JAKARTA (Yosefardi) – PT Bank Mandiri Tbk (BMRI) decided to skip its plan to launch the initial public offering (IPO) of its syariah unit, PT Bank Syariah Mandiri (BSM) as unit’s loan growth was lower then expectation.
Bank Mandiri also decided to postpone capital injection of Rp500 billion to BSM as its capital ratio of 14-15% is considered sufficient.
Currently, BSM’s loan or financing only grew by less than 10% (single digit growth), while Bank Mandiri expects more than 20% growth, a rational for capital injection.
BSM’s loan grew by 2.6% to Rp49.6 trillion in first half of this year. While BSM’s third party funds rose 7.48% to Rp55.17 trillion. BSM’s profit fell 59.07% to Rp150.1 billion.