Saturday, January 02, 2010

Mandiri takes No.2 spot

State-bank Mandiri is the largest bank in terms of assets (Rp366.5 trillion as of Sept 2009), but the bank is only second behind Bank Central Asia (BCA) in terms of market capitalization (or value, if you like). Still, Mandiri's stock price outperformed Bank Rakyat Indonesia (BRI) to take the number two spot from BRI.
According to, Mandiri has market capitalization of Rp97.4 trillion as of December 30, 2009, higher than BRI (Rp93.4 trillion), but still far behind BCA (Rp119.6 trillion). But in terms of market value per asset, BRI is better than Mandiri, because BRI's asset was only Rp275.99 trillion as of Sept 2009.
Mandiri's stock price surged 132% this year, while BRI increased 67%. BRI reported net profit of Rp5.3 trillion in Jan-Sep 2009, while Mandiri booked Rp4.62 trillion profit in the same period.

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