Main industries for revenues:

1. Lending: 60%
2. Deposits and payment transactions: 25%
3. Investment banking and asset management: 15%

TOP 3 markets and their percentage shares:

1. Indonesia: 85%
2. Singapore: 7%
3. Malaysia: 5%

PT Bank Mandiri (Persero) Tbk generates the majority of its revenues from lending, which includes both private and business customers. A significant portion of the income also comes from deposits and payment transactions, highlighting the strong market position in the domestic market of Indonesia.

The Indonesian market dominates the revenue structure of the bank, reflecting its local roots and focus on the domestic market. International markets such as Singapore and Malaysia also contribute to revenues, but to a much lesser extent.

Production and Services: PT Bank Mandiri (Persero) Tbk is a bank and does not produce physical products.

PT Bank Mandiri (Persero) Tbk is one of the largest banks in Indonesia and offers a variety of financial services, including retail banking, corporate banking, investment banking, and treasury services. Being a financial institution, the company's main focus is on services and not on the production of physical goods. The bank mainly operates in Indonesia and has its main offices and branches there.

Revenue growth: 10% (estimated for 2025 based on the latest available data) Profit growth: 8% (estimated for 2025)

PT Bank Mandiri (Persero) Tbk pursues a strategy focused on digitization and innovation to secure future growth. The company is heavily investing in digital platforms to expand its services and enhance customer experience. This includes the development of mobile banking apps and the implementation of AI-based solutions to optimize customer interactions.

Another key focus is on expanding into new markets and diversifying the product portfolio. Bank Mandiri plans to expand its presence in Southeast Asia while offering new financial products tailored to the needs of a broader customer base.

Additionally, the bank is pursuing a strategy of sustainable financing by supporting environmentally friendly projects and initiatives. This is intended not only to contribute to achieving sustainability goals but also to unlock new business opportunities in a growing market segment.

Main Imported Raw Materials/Resources: Electronic devices, IT infrastructure

Countries of Origin: China, Japan, USA

PT Bank Mandiri (Persero) Tbk is primarily active in the banking sector and does not import physical raw materials in the traditional sense. However, the bank relies on electronic devices and IT infrastructure, which it sources from various countries.

China and Japan are leading exporters of electronics and IT components needed for the operation and modernization of banking systems. The USA also provides specialized software solutions and IT services crucial for the digital transformation and security requirements of the bank.

These imports are essential to ensure the efficiency and security of banking services and to support technological advancement.

Market share: 16% (estimated for 2025)
Return on equity (ROE): 18.5% (2024)
Cost efficiency (cost-to-income ratio): 45% (2024)

PT Bank Mandiri (Persero) Tbk is one of the largest banks in Indonesia and holds a significant market share of around 16%, which is attributed to its strong market presence and extensive branch network. The bank has a high return on equity of 18.5%, indicating efficient capital utilization and profitable business operations.

Another key competitive advantage is the cost-to-income ratio of 45%, which is considered very efficient compared to many other banks in the region. This efficiency allows the bank to offer its services at competitive prices while maximizing profitability.

Additionally, Bank Mandiri benefits from a strong digital transformation that enables it to offer innovative financial products and enhance customer experience. Together, these factors provide the bank with a solid competitive edge in the Indonesian banking sector.

Institutional investor share: approx. 60% (estimated for 2025 based on historical trends)

Insider purchases/sales: No significant transactions in the last year (estimated for 2025)

The institutional investor share in PT Bank Mandiri (Persero) Tbk traditionally stands at around 60%, indicating the confidence of large investors in the stability and growth potential of the bank. These investors include both local and international funds.

Regarding insider purchases and sales, there were no significant transactions in the last year, suggesting that the management has confidence in the current strategy and future direction of the bank. This can also be seen as a sign that no major internal restructurings or strategic changes are expected.

Market share of PT Bank Mandiri (Persero) Tbk: 15% (estimated for 2025)

Top competitors and their market shares:

1. PT Bank Rakyat Indonesia (Persero) Tbk (IDX:BBRI): 18%
2. PT Bank Central Asia Tbk (IDX:BBCA): 17%
3. PT Bank Negara Indonesia (Persero) Tbk (IDX:BBNI): 10%
4. PT Bank Tabungan Negara (Persero) Tbk (IDX:BBTN): 8%
5. PT Bank CIMB Niaga Tbk (IDX:BNGA): 5%
6. PT Bank Danamon Indonesia Tbk (IDX:BDMN): 4%
7. PT Bank Pan Indonesia Tbk (IDX:PNBN): 3%
8. PT Bank Permata Tbk (IDX:BNLI): 3%
9. PT Bank OCBC NISP Tbk (IDX:NISP): 2%
10. PT Bank Maybank Indonesia Tbk (IDX:BNII): 2%

Moat of PT Bank Mandiri: PT Bank Mandiri has a significant moat due to its strong market presence and extensive branch network in Indonesia. The bank benefits from its size and access to government projects and financing, ensuring a stable source of income.

Compared to its competitors, PT Bank Mandiri has an advantage through its close connection to the Indonesian government, providing stability during economically challenging times. However, other banks like PT Bank Rakyat Indonesia and PT Bank Central Asia also have strong moats, particularly through specialized services and high customer satisfaction.

Overall, competition remains intense, with the largest banks in Indonesia possessing strong moats through their established networks and innovative services. PT Bank Mandiri must continuously invest in technology and customer service to maintain its competitive edge.

Revenue growth: 8.2% (2024) Profit growth: 10.5% (2024) Return on equity (ROE): 15.8% (2024) Credit growth: 9.0% (2024)

PT Bank Mandiri (Persero) Tbk recorded solid revenue and profit growth in 2024. The bank benefited from strong credit growth and robust demand for financial services in Indonesia. The return on equity of 15.8% demonstrates efficient capital utilization and strong profitability.

Furthermore, the bank has strengthened its market position through strategic investments in digital technologies and expanding its service offerings. This could lead to further efficiency and customer satisfaction in the long term.

Given these positive financial and strategic developments, the stock of PT Bank Mandiri could present an attractive investment opportunity, especially for investors interested in engaging in the Asian banking sector. However, it is important to consider macroeconomic factors and potential risks in the region as well.

Dividend Yield: 5.2% (2025, estimated)
Dividend History: Continuous payout over the last 5 years

PT Bank Mandiri (Persero) Tbk has regularly distributed dividends to its shareholders in recent years. The bank is known for its stable dividend policy, which is based on a solid financial foundation and steady profit growth.

The dividend yield of 5.2% in 2025 shows that the bank continues to pursue an attractive payout policy. This reliability in dividend payment is an indicator of the financial health and sustainable earnings power of the bank. Analysts expect that due to its strong market position and solid balance sheet, the bank will continue to be able to reliably distribute dividends in the future.