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Bank Mandiri (BMRI) IDR

PT Bank Mandiri (Persero) Tbk is an Indonesian state-owned bank that offers a range of retail and corporate banking services, including savings and loan products, credit cards, e-banking, trade finance, treasury services, and insurance. It operates domestically and through overseas branches in several countries.

At a glance: strengths & risks
✓Profit growing (+18% y/y, H1 2026)✓Strong ROE (19%)✗Revenue declining (-9% y/y, H1 2026)

Sector: Banks

ID_BMRI

Price chart

4 020 IDRDay 0.25%

Key metrics

Market

Price
4 020 IDR · 0.25%
Market cap
375199.9 bn IDR

Growth

Δ NII y/y
-8.7%
Δ net profit y/y
17.8%

Multiples

P/E (LTM)
5.7x
P/B (FY)
1.1x

Returns

Dividend yield
13.5%
ROE (annualized)
20.8%
ROI (ROE ÷ P/B)
18.2%

Value creation

annualized net income / market cap (return on equity value)
Banking potential
+16.8%
↓ details

Liquidity

Daily turnover (listing)
298.6 bln IDR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B IDR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusNet interest incomeB IDRNet profitB IDRAssetsB IDREquityB IDRROE (annualized)Source
2026-06-30Q2 2026 (3M)OK22.8
y/y -8.7%
15.4
y/y 17.8%
2527.6
y/y 0.5%
293.0
y/y -1.6%
20.8%Report (PDF)
2026-03-31Q1 2026 (3M)OK25.0
y/y -1.8%
16.2
y/y 11.6%
2432.6
y/y -1.3%
314.0
y/y 10.1%
20.2%Report (PDF)
2025-12-31Q4 2025 (3M)OK28.0
y/y 2.9%
20.0
y/y 32.4%
2829.9
y/y 16.6%
327.4
y/y 4.4%
19.1%Report (PDF)
2025-09-30Q3 2025 (3M)OK25.9
y/y 4.9%
14.5
y/y -10.2%
2563.4
y/y 10.3%
313.8
y/y 4.1%
18.0%Report (PDF)
2025-06-30Q2 2025 (3M)OK26.9
y/y 6.7%
12.3
y/y -8.3%
2514.7
y/y 11.4%
297.9
y/y 5.5%
18.4%Report (PDF)
2025-03-31Q1 2025 (3M)OK25.5
y/y 5.5%
14.5
y/y 2.9%
2463.7
y/y 13.9%
285.2
y/y 6.1%
19.4%Report (PDF)
2024-12-31Q4 2024 (3M)OK27.2
y/y —
15.1
y/y —
2427.2
y/y —
313.5
y/y —
19.9%Report (PDF)
2024-09-30Q3 2024 (3M)OK25.5
y/y —
16.8
y/y —
2324.0
y/y —
301.3
y/y —
21.1%Report (PDF)
2024-06-30Q2 2024 (3M)OK24.9
y/y —
15.1
y/y —
2257.8
y/y —
282.3
y/y —
21.2%Report (PDF)
2024-03-31Q1 2024 (3M)OK24.2
y/y —
14.1
y/y —
2163.8
y/y —
268.8
y/y —
—Report (PDF)

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Monthly OJK statements (bank-only)

Mandatory OJK monthly disclosure (SE OJK 9/2020): unconsolidated bank-only balance sheet and P&L from the issuer's website. Profit and NII are cumulative YTD. Not directly comparable to consolidated group IFRS. Quarter-end months (Mar/Jun/Sep/Dec) are optional — gaps possible. IDR trillions.

MonthAssetsLoans (gross)DepositsEquityNet profit YTDNP monthNII YTD
Aug 20262 358.5
+20.7% y/y
1 592.2
+17.6% y/y
1 687.2
+17.6% y/y
262.737.5
+22.3% y/y
4.554.8
+7.2% y/y
Jul 20262 360.7
+21.6% y/y
1 595.8
+19.4% y/y
1 684.1
+18.5% y/y
257.233.0
+24.2% y/y
4.548.3
+8.4% y/y
Jun 20262 349.2
+19.1% y/y
1 591.7
+19.9% y/y
1 710.0
+17.1% y/y
252.828.5
+25.0% y/y
5.241.6
+8.0% y/y
May 20262 306.3
+20.0% y/y
1 579.9
+20.6% y/y
1 716.3
+22.0% y/y
247.723.3
+18.6% y/y
5.334.9
+10.0% y/y
Apr 20262 245.1
+16.2% y/y
1 550.2
+18.5% y/y
1 650.0
+16.6% y/y
242.718.1
+18.8% y/y
4.527.9
+9.8% y/y
Mar 20262 254.4
+17.4% y/y
1 530.2
+17.4% y/y
1 675.2
+21.1% y/y
273.113.6
+16.7% y/y
4.721.2
+11.1% y/y
Feb 20262 214.5
+14.3% y/y
1 513.1
+15.7% y/y
1 644.8
+16.3% y/y
270.38.9
+16.7% y/y
4.213.7
+9.2% y/y
Jan 20262 191.9
+14.0% y/y
1 511.4
+15.6% y/y
1 635.5
+17.3% y/y
266.24.7
+16.2% y/y
4.77.2
+10.2% y/y
Dec 20252 228.1
+18.7% y/y
1 497.1
+14.2% y/y
1 674.7
+26.2% y/y
262.051.5
+0.8% y/y
7.478.3
+3.3% y/y
Nov 20252 120.11 451.61 583.9260.344.15.371.0
Oct 20252 053.41 403.81 530.9256.038.94.164.4
Sep 20252 001.81 384.51 486.9251.734.84.157.6
Aug 20251 953.71 353.41 435.2247.230.74.151.2

Dividends paid in 2026 (as of 2026-08): 35.1 IDR trn.

Indonesia — currency context

USD/IDR17932
1-week+0.5%
1-month+1.3%
room to 52w-weakest1.4%
DXY (dollar index)101.9
US 10Y5.27%

A weaker rupiah lowers the USD value of Indonesian equities for a foreign holder; for banks, BI's high policy rate (defending the currency) pressures margins.

as of 2026-10-01 (Yahoo)

Peer comparison

Group: Banks. Each peer is shown as it trades and re-priced onto this company's market (Indonesia) by the ratio of our coverage medians.

CompanyMarketCap, $bnP/EP/E, adjusted
State Bank of IndiaIndia92.310.3x2.9x
Emirates NBDUAE53.78.1x4.0x
BradescoBrazil37.78.0x4.3x
HDFC BankIndia113.915.5x4.3x
ICICI BankIndia98.916.9x4.7x
First Abu Dhabi BankUAE58.710.2x5.0x
Shinhan Financial GroupKorea35.88.9x5.3x
KB Financial GroupKorea43.49.4x5.6x
Bank Central AsiaIndonesia41.912.9x12.9x
Royal Bank of CanadaCanada273.719.1x—
Mitsubishi UFJ Financial GroupJapan257.115.0x—
Bank of Nova ScotiaCanada112.520.5x—
Group median11.6x4.7x
Group average12.9x5.4x
This companyIndonesia21.05.7x5.7x

Group median 11.6x as traded, 4.7x adjusted; this company 5.7x — a 20% premium.

Group average 12.9x as traded, 5.4x adjusted; against the average this company is at a 4% premium.

At the adjusted group median the market cap would be -17% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 28.8x, Russia 5.8x, South Africa 10.6x, Kazakhstan 9.4x, India 27.5x, Indonesia 7.7x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-01; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-1666 IDREx-dividend: 66 IDR per sharePaidYahoo Finance (ex-div)
2026-05-11376.9569 IDREx-dividend: 376.9569 IDR per sharePaidYahoo Finance (ex-div)
2026-01-06100 IDREx-dividend: 100 IDR per sharePaidYahoo Finance (ex-div)
2025-04-14466.1844 IDREx-dividend: 466.1844 IDR per sharePaidYahoo Finance (ex-div)
2024-03-20353.9575 IDREx-dividend: 353.9575 IDR per sharePaidYahoo Finance (ex-div)
2023-03-27264.6684 IDREx-dividend: 264.6684 IDR per sharePaidYahoo Finance (ex-div)
2022-03-21180.3178 IDREx-dividend: 180.3178 IDR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.bankmandiri.co.id/web/ir

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B), profitability and dividend yield of Bank Mandiri (BMRI) — from primary filings.

Frequently asked questions

What is Bank Mandiri (BMRI)'s P/E ratio?
Bank Mandiri (BMRI) trades at a P/E of 5.7x (price to trailing 12-month earnings).
What is Bank Mandiri (BMRI)'s P/B ratio?
Bank Mandiri (BMRI) trades at a P/B of 1.1x.
What is Bank Mandiri (BMRI)'s dividend yield?
Bank Mandiri (BMRI)'s trailing 12-month dividend yield is 13.5%.
What is Bank Mandiri (BMRI)'s return on equity (ROE)?
Bank Mandiri (BMRI)'s ROE is 20.8%.
What is Bank Mandiri (BMRI)'s market capitalization?
Bank Mandiri (BMRI)'s market cap is 375199.9 bn IDR.

See also: Indonesian Stocks (2026): The Cheapest Big Emerging Market · The Cheapest Bank Stocks in the World (2026): Where Global Banks Trade Below Book · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map