JAKARTA – PT Bank Mandiri Tbk (BMRI) recorded a year-on-year (yoy) credit growth of 19.5% to IDR 1,670.55 trillion in 2024. This figure significantly surpasses the national banking industry’s average growth rate of 10.39% yoy, according to Financial Services Authority (OJK).

Darmawan Junaidi, President Director of BMRI, explained that the bank’s net credit grew by IDR 225 trillion in 2024. Without BMRI’s credit growth, Darmawan noted, the banking industry might have only grown by 8.4% in 2024.

To support credit growth, BMRI optimised its business ecosystem, expanded its reach, and developed services for retail and mid-tier segments.

“We have strong resources to grow in the retail and lower mid-tier segments. With the ease of digital access, the public can enjoy our services anywhere as long as there is an internet connection,” added Darmawan.

To maintain liquidity balance, BMRI released some of its deposit portfolio to reduce the cost of funds. As a result, in January 2025, the loan-to-deposit ratio (LDR) dropped to 93%, nearing 92%, indicating healthy growth aligned with the bank’s strategy.

“This growth is maintained within a healthy framework. We ensure that expansion is conducted with careful consideration to continue providing maximum benefits to both the industry and the national economy,” said Darmawan in an official statement in Jakarta, quoted on Friday (7/3).

In 2025, BMRI is targeting higher credit growth compared to the industry, despite challenges such as continued pressure from funding costs. However, Darmawan remains optimistic that the bank’s profits will continue to rise, supported by the very positive performance at the beginning of the year.

As of January 2025, BMRI’s individual profit grew by 4.46% yoy to IDR 4 trillion, higher than the profit growth of 1.31% yoy in December 2024.

“Looking ahead, our biggest challenge is how to maintain superior performance amidst the economic dynamics,” said Darmawan. (EF/KR/ZH)