PT Bank Mandiri (Persero) (BMRI) investor relations material

Executive summary

• Pre-provision operating profit (PPOP) rose 19.9% year-over-year in 1H26, driven by a 14.9% increase in non-interest income, especially from digital and fee-based services.

• Net profit after tax and minority interest (PATMI) grew 24.4% year-over-year to Rp30.4T in 1H26, while net income for the six months ended June 30, 2026, was Rp31.6 trillion, up from Rp26.9 trillion in the same period last year.

• Asset quality remained robust, with gross NPL at 1.01% and consolidated Loan at Risk (LaR) at 5.83% in 1H26; NPL (net) was 0.42%.

• Operating expenses declined 1.4% year-over-year, improving the cost-to-income ratio (CIR) to 37.9%.

• The company maintained strong capital adequacy, with a consolidated CAR of 17.88% as of June 30, 2026, well above regulatory minimums.

Financial highlights

• Net interest income increased 8.05% year-over-year in 1H26, while non-interest income surged 14.9%.

• Total consolidated assets reached Rp2,528T, up 18.1% year-over-year; total assets were Rp2,527.6 trillion, with total loans and sharia financing at Rp1,630.5 trillion.

• Loans grew 18.8% year-over-year to Rp1,677T, with third-party funds up 17.1% to Rp1,763T.

• NIM moderated to 4.56% in 1H26 due to loan repricing and competitive funding costs.

• Earnings per share for the period was Rp326.11.

Outlook and guidance

• FY26 guidance: loan growth 7–9%, NIM 4.3–4.5%, cost of credit 0.6–0.8%.

• Management expects stable profitability and strong capital to support business growth and risk absorption.

• Management remains cautious on retail NPL outlook and will maintain conservative credit risk management.

• The company projects continued surplus liquidity, with LCR at 123.4% and NSFR at 106.6% as of June 30, 2026.