PT Bank Mandiri Tbk recorded an IDR 6.3 trillion net income in the first half of 2011 or 56.7% higher than previous year as supported by the growing non-interest income.
According to a press release, the fee-based income rose by 68.6% to IDR6.18 trillion compared to IDR3.66 trillion a year earlier.
The company’s net interest income also rose by 14.6% to IDR10.38 trillion from previously IDR9.06 trillion.
The growing fee-based income and interest revenue were still able to cover the increase in operating costs and provision. Its operating expenses rose by 30.5% to IDR6.5 trillion and provision by 14.8% to IDR2.1 trillion.
According to Bank Mandiri’s President Director Zulkifli Zaini, the growing business expansion throughout the first half of this year has largely contributed to the profit increase
