Mandiri plans to raise US$400 million loan

The biggest lender in Indonesia by assets, PT Bank Mandiri Tbk plans to raise Us$200 milion-US$400 million loan. The company has programme to reduce recap bond from balance sheet. 

Currently, Bank Mandiri held IDR78 trilion recap bond. The lender who wish to give loan for Bank Mandiri had to buy recap bond at par price. The corporate action in line with Bank Indonesia plans to reduce recap bond held by banking entity. Bank Mandiri was submited the plans to central bank.

Net profit at Bank Mandiri rose 33 percent to IDR12.2 trillion ($1.3 billion) from a year earlier.It reported IDR 552 trillion in total assets. Net interest income — the money earned from loans after deducting interest payments to depositors — rose 11 percent to IDR21.78 trillion last year from IDR19.54 trillion in 2010.