Indonesia’s Bank Mandiri eyes acquisitions in Philippines, Myanmar

Photo By: Bank Mandiri

Indonesia’s PT Bank Mandiri Tbk will raise its provisions to 18-20 trillion rupiah ($1.4-$1.5 billion) for 2016 from 11 trillion rupiah a year earlier, as bad loans spread beyond the commodities sector, its CEO told Reuters on Sunday.

Non-performing loans rose to 3.86 percent of total lending at the end of the second quarter, from 2.43 percent a year ago, and will likely start recovering significantly only towards the end of 2017, said Kartika Wirjoatmodjo, CEO of Indonesia’s biggest bank by assets.

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