BMRI - Investment credit disbursement soars

BMRI - Investment credit disbursement soars Bank Mandiri (BMRI) recorded solid investment loan growth until November 2025. In line with efforts to support the government's program to boost economic growth and enhance the competitiveness of the national industry, Bank Mandiri's investment credit grew by 26.3% yoy. The main sectors supporting this growth include manufacturing, electricity, gas, steam/hot water and cold air supply, transportation and warehousing, and various other productive sectors. From an asset quality perspective, Bank Mandiri reaffirms its commitment to maintaining healthy credit quality. The focus of credit disbursement is directed toward promising and resilient sectors, in line with the retail business development strategy thru an ecosystem-based value chain approach. These efforts are also strengthened by optimizing the use of technology and digitalization, thru the Livin' by Mandiri and Kopra by Mandiri platforms, as well as strengthening operational processes to improve service quality and customer experience. (Source : Kontan) Comment : Mandiri is doing far more than just expanding its balance sheet. It is essentially bankrolling the next chapter of Indonesia’s economic transformation. That 26.3% spike in investment lending we saw at the end of 2025 isn't just a lucky break—it’s a clear signal that the nation is moving away from a consumer-heavy recovery and toward serious industrial growth. What we're seeing is Mandiri’s successful evolution from a basic 'old school' lender into a high-tier financial powerhouse. Maintain BUY, GGM-based TP of IDR5,660 (1.6x ’26F P/B).