Bank Mandiri, Indonesia’s biggest lender, said on Monday its second quarter net profit rose 48 percent from a year ago as loan growth rem ained strong in Southeast Asia’s top economy.
The firm’s second-quarter net profit was 3.7 trillion rupiah ($391.33 million), compared with 2.5 trillion rupiah in the same period a year earlier, according to a Reuters calculation based on the lender’s published first quarter and first half results.
Analysts forecast Mandiri’s 2012 net profit to rise 12 percent to 13.7 trillion rupiah, according to Thomson Reuters data.
Fund investors are keen on Indonesian banks as a proxy for the economy, though Mandiri’s stock price has stuttered this year after having more than tripled in the past three years.
Shares in Mandiri rose 2.6 percent to 7,850 rupiah ahead of the results. They gained 7 percent in the first half to outperform a wider Jakarta index that rose around 3 percent in the same period.