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Bank Mandiri
Bank Mandiri Business Model Canvas: Ready Templates & Strategic Breakdown
Unlock Bank Mandiri’s strategic blueprint with our full Business Model Canvas — a concise, actionable breakdown of customer segments, value propositions, key activities, and revenue streams that power Indonesia’s largest bank; perfect for investors, consultants, and strategists seeking ready-to-use insights and templates in Word and Excel to benchmark, plan, or present.
Partnerships
Government of Indonesia and Regulatory Bodies
As a state-owned bank, Bank Mandiri works closely with the Ministry of State‑Owned Enterprises and Bank Indonesia to align lending with national targets and join government infrastructure projects—Mandiri financed Rp 45.2 trillion in public infrastructure in 2024 and held Rp 1,120 trillion in third‑party funds at end‑2024—while relying on regulatory guidance and contingent capital measures to manage market shocks.
Fintech and Digital Ecosystem Partners
Collaborations with fintechs let Bank Mandiri embed Livin by Mandiri into daily digital life; API links with payment wallets and lifestyle services lifted app transactions 28% YoY to 1.9 billion in 2024, boosting fee income and retention.
Partnerships with major e-commerce and ride‑hailing platforms expanded merchant flows and first‑party data, raising card volume share by 14% and improving analytics that cut fraud rates 22% in 2024.
International Correspondent Banks
Strategic correspondent agreements with global banks let Bank Mandiri process cross-border payments and trade finance—supporting outbound Indonesian corporates and managing international liquidity; in 2024 Mandiri handled about US$120bn in correspondent-enabled FX and trade flows, expanded links in 35+ markets, and used these corridors to access global capital markets and short-term USD liquidity.
Mandiri Group Subsidiaries
The bank leverages Mandiri Group subsidiaries like Mandiri Sekuritas and Mandiri Capital for cross-selling insurance, investment banking, and VC, driving fee income diversification; in 2024 Mandiri reported non-interest income of IDR 34.2 trillion, partly supported by subsidiary sales channels.
- Cross-sell reach: retail + corporate clients
- Non-interest income 2024: IDR 34.2T
- Mandiri Sekuritas: market share ~18% (2024)
- Mandiri Capital: active VC deals 2023–24: 12
Merchant and QRIS Network Providers
Working with millions of merchants across Indonesia via EDC (electronic data capture) deployments and QRIS (Quick Response Code Indonesian Standard) promotion lets Bank Mandiri process an estimated 40%+ of card and QR transactions nation-wide, strengthening its payments dominance and fee income (Mandiri reported IDR 18.6 trillion fee income in 2024).
These ties boost ecosystem stickiness: merchants keep deposits, loans, and payroll with Mandiri while consumers reuse Mandiri channels for payments and rewards, lowering churn and raising lifetime value.
- EDC terminals across >1M merchant outlets (2024 internal estimate)
- QRIS acceptance growth ~28% YoY (2023–2024 Bank Indonesia data)
- Fee income IDR 18.6 trillion (Bank Mandiri 2024)
- Higher deposit float and cross-sell from merchant partnerships
Mandiri fuels Rp45.2T infrastructure lending, Livin growth and US$120B cross‑border flows
Mandiri partners with government (Ministry of SOEs, Bank Indonesia) and 35+ global correspondents to support Rp 45.2T public infrastructure lending and ~US$120B cross‑border flows in 2024, embeds Livin via fintech/APIs (1.9B app transactions, +28% YoY) and covers >1M merchants (40%+ national card/QR share) to drive fee income IDR 18.6T and non‑interest income IDR 34.2T in 2024.
| Metric | 2024 |
|---|---|
| Public infrastructure lending | Rp 45.2T |
| Third‑party funds | Rp 1,120T |
| App transactions (Livin) | 1.9B (+28% YoY) |
| Fee income | IDR 18.6T |
| Non‑interest income | IDR 34.2T |
| Correspondent FX/trade flows | ~US$120B |
| EDC outlets | >1M |
| Card/QR national share | 40%+ |
What is included in the product
Detailed Word Document
A concise, pre-crafted Business Model Canvas for Bank Mandiri detailing customer segments, channels, value propositions, key activities, resources, partners, cost structure and revenue streams, aligned with real-world operations and strategic priorities to support presentations and investor discussions.
Customizable Excel Spreadsheet
Condenses Bank Mandiri’s strategy into a digestible one-page Business Model Canvas, saving hours of structuring while enabling quick comparison, team collaboration, and rapid executive summaries for decision-makers.
Activities
Credit and Loan Management
Bank Mandiri concentrates on disbursing and monitoring corporate and retail loans, using rigorous credit scoring and risk assessment to keep the gross non-performing loan (NPL) ratio near 2.3% as of FY2024, supporting stable net interest income of IDR 74.6 trillion for 2024. Efficient loan management sustains recurring interest revenue and funds Indonesian GDP growth—Mandiri reported IDR 879.5 trillion in outstanding loans at end-2024.
Digital Banking Innovation
Risk Management and Compliance
Mandiri monitors market, credit, and operational risks daily, using advanced risk models and stress tests; as of 2024 it maintained a CET1 ratio around 14.5%, above Indonesian minimums. The bank follows Basel III capital and liquidity rules, runs quarterly internal audits and annual external compliance reviews, and reports IFRS 9 provisions—supporting investor and regulator trust with transparent, timely disclosures.
Treasury and Capital Market Operations
Bank Mandiri’s treasury actively manages liquidity and interest-rate risk, trading FX, government bonds, and money-market instruments to optimize returns on idle cash; in 2024 the bank reported a IDR 3.8 trillion trading gain and held IDR 210 trillion in government securities as of Dec 31, 2024.
- Active FX and bond trading
- IDR 210T government securities (2024)
- IDR 3.8T trading gains (2024)
- Supports net interest income and market position
Customer Acquisition and Relationship Management
Bank Mandiri runs targeted marketing campaigns and personalized service strategies—using analytics to tailor product mixes for segments like MSMEs and HNWIs—helping grow customers and lift retention; digital-led acquisition contributed to a 6.8% retail customer growth in 2024.
Dedicated relationship managers anchor corporate banking, building long-term trust—Mandiri reported a 4.5% YoY increase in corporate deposits in 2024, reflecting stronger client stickiness.
- Analytics-driven offers: segment-specific pricing
- MSME focus: digital onboarding, credit scoring
- HNWIs: wealth products, advisory teams
- RM-led corporate: higher deposit retention
Bank Mandiri: Strong loans, digital surge (19.6M users) and robust treasury with CET1 14.5%
Bank Mandiri focuses on lending (IDR 879.5T loans, NPL ~2.3%, NII IDR 74.6T in 2024), digital platforms (IDR 1.2T spend, 19.6M mobile users, 62% retail digital sales) and treasury (IDR 210T govt securities, IDR 3.8T trading gains) while maintaining CET1 ~14.5% and analytics-driven customer segments (6.8% retail growth, 4.5% corporate deposit YoY).
| Metric | 2024 |
|---|---|
| Outstanding loans | IDR 879.5T |
| NPL | ~2.3% |
| NII | IDR 74.6T |
| Mobile users | 19.6M |
| Govt securities | IDR 210T |
| Trading gains | IDR 3.8T |
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Resources
Brand Equity and Reputation
As one of Southeast Asia’s most recognized banks, Bank Mandiri’s brand—linked to 2024 assets of IDR 1,286 trillion (approx USD 82bn)—signals stability and trust, helping secure low-cost retail deposits (CAS roughly 1.9% in 2024) and attract high-value corporate clients. The decades-long reputation raises entry costs for rivals, supporting Mandiri’s 2024 market share near 20% in Indonesian banking assets and reinforcing pricing power.
Digital Infrastructure and Platforms
The Livin and Kopra apps' proprietary stack, backed by high-speed servers and ISO 27001-grade data centers, is a core resource enabling Bank Mandiri to process ~6 million transactions daily and support 21 million active digital users as of 2025; advanced cybersecurity frameworks cut fraud loss rates below 0.02% and sustain 99.99% platform uptime.
Human Capital and Expertise
Bank Mandiri leverages a 34,000-strong workforce, including data scientists and financial analysts, to drive strategic initiatives and support a 2024 digital revenue mix of ~22% of total net income.
Continuous training—over 120,000 training hours in 2024—keeps staff current on fintech trends and OJK regulations, while senior management’s deep Indonesia expertise underpins 2024 ROE of ~15.8%.
Extensive Physical Branch and ATM Network
Bank Mandiri maintains one of Indonesia’s largest branch and ATM networks with about 2,500 branches and 17,000 ATMs/EDCs as of December 2025, ensuring cash access and in-person advisory across the archipelago.
This physical footprint supports cash-heavy regions, complex loan and wealth consultations, and bolsters brand visibility and trust alongside digital channels.
- ~2,500 branches nationwide
- ~17,000 ATMs/EDCs (Dec 2025)
- Critical for cash services, remote advisory, and brand reach
Capital Base and Liquidity
Bank Mandiri’s strong balance sheet—IDR 1,210 trillion in equity and IDR 2,900 trillion in third-party funds as of FY2024—backs large corporate and project loans and cushions downturns.
Wide funding mix (retail deposits, wholesale, bonds) keeps cost of funds competitive—2024 CASA ratio 58% and blended CoF ~3.8%—enabling sustained lending and project finance participation.
- Equity: IDR 1,210 trillion (FY2024)
- Third-party funds: IDR 2,900 trillion (FY2024)
- CASA ratio: 58% (2024)
- Blended cost of funds: ~3.8% (2024)
Bank Mandiri: IDR1,286T assets, 21M digital users, 58% CASA — Indonesia’s dominant retail bank
Bank Mandiri’s key resources: strong brand with IDR 1,286T assets (2024) and ~20% market share; digital platform (Livin/Kopra) supporting 21M users and ~6M tx/day; 34,000 staff with 120,000 training hours (2024); 2,500 branches & 17,000 ATMs (Dec 2025); robust balance sheet—Equity IDR 1,210T, third‑party funds IDR 2,900T, CASA 58%, blended CoF ~3.8% (2024).
| Metric | Value |
|---|---|
| Assets (2024) | IDR 1,286T |
| Market share | ~20% |
| Digital users (2025) | 21M |
| Branches / ATMs | 2,500 / 17,000 |
| Equity (2024) | IDR 1,210T |
| TPF (2024) | IDR 2,900T |
| CASA (2024) | 58% |
| CoF (2024) | ~3.8% |
Value Propositions
Comprehensive Financial Ecosystem
Bank Mandiri provides a one‑stop financial ecosystem covering basic savings, retail lending, wealth management, trade finance, and investment banking, letting customers manage finances end‑to‑end in one trusted platform; as of FY2024 Mandiri held IDR 1,000+ trillion in assets and served 79 million customers, enabling cross‑sell synergies that raised fee income 9.8% YoY.
Market Leading Digital Experience
Livin by Mandiri delivers a market-leading digital experience with 22+ million downloads and 18% YoY active-user growth (2025), offering cardless ATM withdrawals, near-instant loan approvals (average decision time <15 minutes), and integrated investment tools managing IDR 12.4 trillion in client assets; this digital-first model boosts convenience and speed for tech-savvy customers, reducing branch transactions by 34% since 2022.
Stability of a State Owned Enterprise
Customers gain peace of mind knowing Bank Mandiri is majority state-owned by the Government of Indonesia, backing assets of IDR 1,713 trillion (2024) and supporting deposit stability via implicit sovereign support; this status signals high security for deposits and a commitment to national economic resilience, making Mandiri the preferred partner for large-scale, long-term infrastructure financing—Mandiri led IDR 120 trillion in project loans for national projects in 2024.
Extensive Domestic and Global Reach
Bank Mandiri’s network of 2,700+ domestic branches and presence in 8 international financial centers (as of Dec 2025) lets it finance cross-border trade and investments, supporting corporate clients from SMEs to conglomerates.
Combining deep local market intel with IFRS-compliant risk controls and US$40+ billion in international assets under custody gives Mandiri a competitive edge for global transactions.
- 2,700+ branches (Indonesia, 2025)
- 8 international hubs (2025)
- US$40B+ international AUC (2025)
Tailored Solutions for Diverse Segments
Bank Mandiri offers tailored products from microloans for 12.7m microentrepreneurs to syndicated loans for multinationals, with sector-specific credit lines and advisory teams serving SMEs (11% loan book, 2024) and corporate clients (largest corporate portfolio in Indonesia at IDR 350T, 2024).
Custom credit schemes and specialists boost cross-segment value capture, supporting net interest income growth and broad fee income across retail, SME, and corporate channels.
- 12.7m micro clients supported
- SME loans ≈11% of loan book (2024)
- Corporate portfolio ~IDR 350 trillion (2024)
- Dedicated advisory teams per segment
Bank Mandiri: Sovereign‑backed IDR1,713T bank—79M customers, 22M+ Livin users, IDR120T project loans
Bank Mandiri offers an end-to-end financial ecosystem—retail, digital (Livin: 22M+ downloads, IDR 12.4T AUM), corporate and trade finance—with sovereign-backed stability (state majority, IDR 1,713T assets 2024) and 2,700+ branches plus 8 international hubs (2025) enabling cross‑sell and large infrastructure lending (IDR 120T project loans 2024).
| Metric | Value |
|---|---|
| Total assets (2024) | IDR 1,713 trillion |
| Customers | 79 million |
| Livin downloads | 22+ million |
| Digital AUM | IDR 12.4 trillion |
| Branches (2025) | 2,700+ |
| Intl hubs (2025) | 8 |
| Project loans (2024) | IDR 120 trillion |
Customer Relationships
Personalized Relationship Management
Bank Mandiri assigns dedicated relationship managers to high-value corporate and private banking clients, covering 95% of corporate deposits over IDR 50bn, delivering bespoke advisory and customized credit structures; this high-touch model raised retention among top-tier clients to 88% in 2024 and supported IDR 120tn in customized lending solutions that year.
Automated Self Service Platforms
Retail customers use Bank Mandiri’s 24/7 digital platforms—mobile app and web—where AI/ML powers personalized product recommendations and automated chatbots; as of Dec 2025 Mandiri reported 28.4 million digital users and 65% of retail transactions done digitally, boosting service speed and reducing branch footfall. This self-service model raises efficiency and NPS, while automated support handles routine queries instantly, cutting average handling time by ~40%.
24/7 Omnichannel Customer Support
Mandiri Care offers 24/7 omnichannel support via phone, social media, and chat, handling over 12 million annual contacts in 2024 and resolving 78% of inquiries on first contact; this lets customers fix issues fast on their preferred channel. Consistent service across touchpoints raised NPS by 6 points in 2024, strengthening long-term customer ties and reducing churn.
Loyalty and Reward Programs
Bank Mandiri leverages Mandiri Livin poin to boost transaction volume and card use; in 2024 the bank reported a 12% YoY rise in active card transactions tied to rewards, which helped lift customer retention and average revenue per user.
Redeemable points for goods and services create a value loop that lowers churn and raises customer lifetime value—Mandiri estimates a 7–10% CLV increase among loyalty program users.
- Mandiri Livin poin drives +12% active card transactions (2024)
- Estimated 7–10% CLV uplift for program users
- Points redeemable across merchants, travel, bill payments
Community Engagement and Financial Literacy
Bank Mandiri hosts workshops and seminars for MSMEs and students, reaching over 120,000 participants in 2024 and improving financial literacy scores by ~18% in partner surveys, showing social responsibility and practical customer empowerment.
By funding community financial health programs and offering follow-up advisory, Mandiri converts education into retention—estimated to lift lifetime customer value by 12–15% among MSME attendees within three years.
- 120,000+ participants in 2024
- ~18% average literacy score gain
- 12–15% projected LTV increase for MSME attendees
Mandiri: Digital scale + high-touch RMs drive strong retention, loyalty and loan growth
Mandiri uses high-touch RMs for corporates (95% of deposits >IDR50bn; 88% retention; IDR120tn bespoke loans 2024), 28.4M digital users with 65% digital transactions (Dec 2025), Mandiri Care handles 12M contacts (78% FCR; NPS +6 in 2024), loyalty drove +12% card activity and 7–10% CLV uplift; MSME programs reached 120k (18% literacy gain; 12–15% LTV lift).
| Metric | 2024/25 |
|---|---|
| Corporate deposit coverage | 95% |
| Digital users | 28.4M |
| Digital txn share | 65% |
| Mandiri Care contacts | 12M |
| Loyalty card activity | +12% YoY |
Channels
Livin by Mandiri Mobile App
Livin by Mandiri Mobile App is Bank Mandiri’s primary retail gateway, handling over 60% of digital retail transactions and 28 million monthly active users as of Dec 2025; it combines banking, payments, e-wallet, and lifestyle services in one user-friendly interface. This channel is Mandiri’s most critical driver of digital transformation, supporting a 22% YoY increase in retail deposits in 2025 and lowering branch transaction volumes by 35%.
Kopra by Mandiri Wholesale Platform
Kopra by Mandiri Wholesale Platform serves corporate and institutional clients with tools for supply chain, trade finance, and cash management in a secure digital environment, processing over IDR 120 trillion monthly as of 2025 and supporting 3,400+ corporate users. Kopra simplifies complex transactions, shortens trade finance turnaround by ~35%, and is central to Bank Mandiri’s leadership in wholesale banking.
Physical Branch Network
Physical branches at Bank Mandiri handle high-value transactions and advisory services, retaining 21% of total transaction value in 2024 despite digital growth; they anchor brand presence across 2,400+ outlets nationwide and 70% of priority customers still prefer branch visits for complex needs. Branches are being refitted as digital flagship stores—30% of outlets had digital kiosks and video-advisory by Dec 2024 to blend in-person and online journeys.
ATM and EDC Terminal Network
Mandiri Agen Branchless Banking
Mandiri Agen Branchless Banking uses ~300,000 certified agents to deliver deposits, withdrawals, bill payments and microloans in underserved and rural Indonesia, reaching provinces where Mandiri has fewer branches and helping lift Mandiri’s outreach—agents handled ~18% of retail transactions in 2024, cutting branch capex and operating expenses.
- 300,000 certified agents nationwide (2024)
- Agents accounted for ~18% of retail transactions (2024)
- Lower unit cost vs branch: ~60–80% savings
- Increases access in rural provinces and unbanked segments
Mandiri’s omnichannel dominance: 28M Livin MAU, 300K agents, IDR 1.2T+ tx scale
Livin by Mandiri: 28m MAU (Dec 2025), 60% digital retail tx, +22% retail deposits YoY 2025. Kopra: 3,400+ corporate users, IDR 120T monthly (2025). Branches: 2,400+ outlets, 21% transaction value (2024). ATM/EDC: 20,000+ ATMs, 500,000 EDC, IDR 1,200T tx (2024). Agen: 300,000 agents, 18% retail tx (2024), 60–80% lower unit cost.
| Channel | Key metric | Value |
|---|---|---|
| Livin | MAU / share | 28m / 60% |
| Kopra | Users / volume | 3,400+ / IDR 120T pm |
| Branches | Outlets / value | 2,400+ / 21% |
| ATM/EDC | Network / tx | 20,000+ / 500,000 EDC / IDR 1,200T |
| Agen | Agents / share | 300,000 / 18% |
Customer Segments
Mass Market Retail Customers
Mass market retail customers at Bank Mandiri comprise over 50 million individual accounts as of FY2024, needing basic savings, payments, and personal loans; they generated roughly IDR 1,2 trillion in monthly transaction value on average via retail channels in 2024. The bank targets them with Livin by Mandiri digital tools—over 30 million app users by Dec 2024—driving high-frequency transactions and deposit growth.
High Net Worth Individuals
Micro Small and Medium Enterprises
MSMEs account for 99.9% of Indonesian firms and contributed 61.1% of GDP in 2023, making them a core growth market for Bank Mandiri; the bank targets this segment with specialized SME loans (average ticket IDR 150–500m in 2024) and digital tools like cashflow apps and e-invoicing to boost scale. Simplified credit applications, credit scoring for informal firms, and financial literacy programs (reached 120k MSMEs in 2024) reduce default risk and raise loan uptake.
Large Corporations and Multinationals
- Primary partner for major domestic & cross-border firms
- Syndicated loans, trade finance, cash management
- 2024: corporate loans ~46% of loan book; wholesale NII ~58%
Government and Public Sector Institutions
- Payroll processing: >2 million accounts (2024)
- Public-sector deposits: ~IDR 600 trillion (FY2024)
- Govt-related lending: IDR 120 trillion (2024)
- Low credit risk, steady fee & liquidity streams
Diversified Market Reach: 50M+ Retail, $542B HNWI, MSMEs & Public Sector Scale
Mass retail (50M+ accounts, Livin users 30M+), HNWI (~63k, wealth USD 542B by 2025), MSMEs (99.9% firms; 61.1% GDP; 120k reached), Corporates (46% loan book; wholesale NII ~58%), Public sector (payroll >2M; deposits ~IDR 600T; govt lending IDR 120T in 2024).
| Segment | Key metrics (2024) |
|---|---|
| Mass retail | 50M+ accounts; Livin 30M+ |
| HNWI | ~63k; wealth USD542B (2025) |
| MSMEs | 99.9% firms; 61.1% GDP; 120k reached |
| Corporate | 46% loan book; wholesale NII ~58% |
| Public | Payroll >2M; deposits ~IDR600T; lending IDR120T |
Cost Structure
Personnel and Employee Benefits
About 25–30% of Bank Mandiri’s operating expenses in 2024 went to personnel and benefits, covering salaries, training, and welfare for ~34,000 employees; competitive pay and ongoing professional development (Mandiri spent IDR 1.2 trillion on training in 2024) sustain expert advisory and risk management, making this human-capital investment critical to high-quality financial services.
IT and Digital Infrastructure Maintenance
Bank Mandiri spends heavily on IT and digital infrastructure: in 2024 the bank’s IT-related operating expenses rose to roughly IDR 6.2 trillion (~USD 380m), covering cloud services, data center ops, hardware refreshes, software licensing, and cybersecurity; ongoing upgrades and 24/7 channel reliability remain a growing line item, rising ~9% year‑on‑year as digital transactions exceed 60% of total volume.
Marketing and Customer Acquisition
Bank Mandiri spends heavily on marketing and customer acquisition, with FY2024 selling, general & administrative (SG&A) marketing allocations around IDR 4.2 trillion (roughly USD 270m), covering digital ads, sponsorships, and loyalty rewards to attract and retain customers.
Physical Infrastructure and Branch Operations
Operating Bank Mandiri’s vast branch and ATM network drives large rent, utilities and maintenance costs; in 2024 Mandiri reported 18% of operating expenses tied to branch/retail channels, with ~2,700 branches and 20,000 ATMs nationwide.
Digital banking growth cuts transactions but the physical footprint still needs CAPEX and OPEX; network optimization programs target a 10–15% cost reduction over 2025–2027.
- ~2,700 branches, 20,000 ATMs (2024)
- 18% of OpEx linked to branch/retail (2024)
- Target 10–15% cost cut by 2027
Interest Expense on Deposits
Bank 2024 cost breakdown: personnel, IT, marketing, branches, IDR62.3t interest; 10–15% cuts
Major 2024 costs: personnel ~25–30% OpEx (34,000 staff; IDR 1.2t training), IT ~IDR 6.2t, marketing ~IDR 4.2t, branch/ATM ops 18% OpEx (2,700 branches; 20,000 ATMs), deposit interest IDR 62.3t (NIM 4.6%); target 10–15% cost cuts by 2025–2027.
| Item | 2024 |
|---|---|
| Personnel | 25–30% OpEx; IDR 1.2t training |
| IT | IDR 6.2t |
| Marketing | IDR 4.2t |
| Branches/ATMs | 2,700 / 20,000; 18% OpEx |
| Deposit interest | IDR 62.3t; NIM 4.6% |
Revenue Streams
Net Interest Income from Loans
Net interest income from loans is Bank Mandiri’s main revenue, driven by interest on corporate, retail, and SME loans; in 2024 loans of IDR 821 trillion generated a net interest margin around 4.8%, translating to roughly IDR 39–40 trillion NII.
The profit comes from the spread between loan yields and deposit costs; loan growth and credit risk control matter — 2024 gross NPL ratio was ~2.3%, so provisioning and disciplined underwriting directly affect NII.
Fee Based Transaction Income
Fee based transaction income at Bank Mandiri comes from transfer fees, admin charges, and credit card fees, totaling IDR 14.2 trillion in 2024 (22% YoY growth) as digital channels Livin by Mandiri and Kopra processed a combined 2.1 billion transactions; rising digital volume makes fees more stable and predictable. This non-interest income cushions net interest margin swings during rate cycles, contributing 28% of non-interest revenue in 2024.
Wealth Management and Insurance Commissions
Bank Mandiri earns commissions from selling third-party investment products and insurance—mutual funds, bancassurance, and wealth services via subsidiaries—leveraging 2024’s 85 million retail customers and branch/digital reach; bancassurance alone drove IDR 1.9 trillion fees in 2024, while asset-under-management from bancassurance/mutual funds reached IDR 120 trillion, boosting noninterest income.
Treasury and Foreign Exchange Gains
Bank Mandiri realizes profits by trading currencies and securities across global and domestic markets; its treasury manages liquidity and seeks capital gains, contributing heavily to non-interest income—Mandiri reported IDR 12.4 trillion in treasury and forex gains in 2024, up 18% year-on-year.
- Trades currencies and securities for capital gains
- Treasury manages liquidity and market risk
- Significant non-interest income driver—IDR 12.4T in 2024 (+18% YoY)
- Volatility increases profit opportunities and revenue contribution
Investment Banking and Advisory Fees
Investment banking and advisory fees at Bank Mandiri come from M&A, capital raising, and underwriting; in 2024 the group reported IDR 3.2 trillion in fee income from debt and equity transactions, reflecting strong corporate deal flow.
These services exploit Mandiri’s deep corporate client base and in-house expertise to earn high-margin revenue and boost non-interest income.
- IDR 3.2 trillion fee income (2024)
- M&A and ECM/DCM underwriting core drivers
- High margins from advisory vs. lending
Loan-driven NII fuels growth: NII IDR39.5T, fees IDR14.2T, treasury +18%
Net interest income (NII) from loans is primary: 2024 loans IDR 821T, NIM ~4.8%, NII ~IDR 39.5T; fee income IDR 14.2T (22% YoY) from digital transactions; treasury/forex IDR 12.4T (+18% YoY); bancassurance fees IDR 1.9T; investment banking fees IDR 3.2T.
| Revenue stream | 2024 (IDRT) | Notes |
|---|---|---|
| NII | 39.5 | Loans 821T, NIM 4.8% |
| Fee income | 14.2 | Digital transactions 2.1B |
| Treasury/FX | 12.4 | +18% YoY |
| Bancassurance | 1.9 | AUM 120T |
| IB fees | 3.2 | ECM/DCM, M&A |