Bank Mandiri NPLs Decrease
Monday, 22 January, 2007 | 16:42 WIB

TEMPO Interactive, Jakarta: The gross non performing loans (NPL) of PT Bank Mandiri Tbk, as of December 31, 2006, decreased by 17.86 percent (not yet audited) compared to the final position in 2005 of 26.66 percent (audited).

In addition, net NPLs were 7.88 percent at the end of 2006, compared to 16.44 percent at the end of December 2005.

According to Agus Martowardojo, Managing Director of Bank Mandiri, the audited 2006 financial report of the company will be fully publicized soon after the auditing process is finished.

He added that the decrease in NPLs was boosted by progress in the handling of the bank’s 30 largest debtors.

“The recorded debt of our top 30 of debtors as of December 31, 2006, amounted to Rp9.58 trillion. This is a dramatic decrease compared to the position in December 2005 when the total was Rp16.1 trillion,” said Agus in a press release yesterday (01/21).

According to Agus, one of the reasons for the decrease was because there were repayments from several debtors, including Sumber Mitra Jaya.

There were also collectability corrections relating to some of the other debtors such as Pupuk Iskandar Muda, Anugerah Inti Gema Nusa, Eterindo Group, Benang Sari and Apac Inti Corpora.

GRACE