PT Bank Mandiri (Persero) (BMRI) Q4 2025 earnings summary

Executive summary

• Net profit for 2025 reached Rp61.3 trillion (consolidated), nearly flat year-over-year, with comprehensive income at Rp68.5 trillion and strong PPOP growth despite a challenging environment.

• 4Q 2025 net profit was IDR 18.6 trillion, up 39.8% quarter-on-quarter and 35% year-on-year.

• Consolidated loan growth for 2025 was 13.4% year-on-year, above guidance, driven by SOE disbursements and healthy asset quality.

• Digital platforms drove user and transaction growth, supporting both retail and wholesale segments.

• Asset quality remained robust with NPL ratio at 0.96% and strong coverage.

Financial highlights

• Total assets grew to Rp2,829.9 trillion as of December 2025, up from Rp2,427.2 trillion in 2024.

• Net interest income for 2025 was Rp106.2 trillion, up from Rp101.7 trillion in 2024.

• Cost-to-income ratio (CIR) increased to 43.5% in 2025 due to one-off opex.

• NIM for 2025 was 4.89%, stable and within guidance.

• Deposits grew 26.2% year-on-year; excluding government placement, deposit growth was 22%.

Outlook and guidance

• 2026 loan growth guidance is 7–9% year-on-year, with balanced growth across wholesale and retail.

• NIM for 2026 is guided at 4.6–4.8%, anticipating yield pressure but offset by lower funding costs.

• Cost of credit expected to normalize to 60–80 bps in 2026.

• Consolidated CIR expected at 42%–43% for 2026.

• LDR to be managed around 95% in 2026.