Posted on October 30, 2009 - by boris

Indonesia: Mandiri posts 16.8% profit growth as loans rise…

Lending expansion helped Bank Mandiri, the nation’s largest asset-based lender, achieve a 16.8 percent growth in net profits in the first nine months of the year from a year earlier despite a slower economic growth.

Net profits during the January-September period reached Rp 4.62 trillion (US$478 million) from Rp 3.95 trillion during the same period in 2008.

Mandiri president director Agus Martowardojo claimed Thursday the bank’s profit growth was higher than the national figure, which was estimated to be around 11 percent. The positive performance was in part due to strong lending expansion, particularly in the micro- and retail-credit portfolios.

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Source: http://www.thejakartapost.com/news/2009/10/30/mandiri-posts-168-profit-growth-loans-rise.html