Bank Mandiri sees 4.10 percent NIM: Bank Mandiri stock is 23.12 percent below target

Published on 10/13/2026 at 10:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank Mandiri stock costs EUR 0.20 on October 13, 2026 beside an IDR 3,990 quote. The IDR 5,190 target exceeds the quote.

Bank Mandiri management expects net interest margin to decline to 4.10 percent in the third quarter of 2026 from 4.37 percent in the first half.
Bank-only net income reached IDR 37.48 trillion through August 2026, up 22.30 percent year over year.
The bank paid an interim dividend of IDR 6.16 trillion, or IDR 66 per share, on October 2, 2026.
Bank Mandiri stock was quoted at EUR 0.20 at Lang & Schwarz on October 13, 2026, while the primary-market quote was IDR 3,990.

Bank Mandiri, ID1000095003, Illustration mit AI erstellt.

Bank Mandiri (ID1000095003) faces a projected net interest margin decline to 4.10 percent in the third quarter of 2026 from 4.37 percent in the first half, while Bank Mandiri stock sits 23.12 percent below an IDR 5,190 analyst target. Asian Banking and Finance reported the margin outlook on October 13, 2026, citing UOB Kay Hian and Bank Mandiri management.

Chronology carries three figures

On September 16, 2026, Bank Mandiri's bank-only net income through August reached IDR 37.48 trillion, up 22.30 percent year over year, while net interest income rose 7.15 percent to IDR 54.83 trillion, Kompas.com reported. On October 2, 2026, the bank paid an interim dividend of IDR 6.16 trillion, equal to IDR 66 per share, according to Kompas.com. On October 13, 2026, the margin forecast became the latest market focus, with funding costs identified as the main pressure point.

What the margin pressure means

The projected 4.10 percent NIM would be 0.27 percentage points below the 4.37 percent level reported for the first half. The same analysis puts Bank Mandiri's cost of credit at the upper end of its earlier 0.60 to 0.80 percent guidance for 2026, while 2027 guidance is 0.80 to 1.00 percent.

Capital also matters. The common equity tier 1 ratio stood at 16.40 percent in the first half, with dividend payments contributing to the decline, according to Asian Banking and Finance. That creates a clear trade-off between shareholder distributions and capital retention as loan growth and risk-weighted assets expand.

Next results date is November 3

Bank Mandiri's next earnings report is scheduled for November 3, 2026, according to Investing.com. The date gives investors a defined checkpoint for testing whether the 4.10 percent NIM expectation is reflected in reported results.

Bank Mandiri stock stays below target

Bank Mandiri stock was quoted at EUR 0.20 at Lang & Schwarz on October 13, 2026 at 9:59 a.m. CEST. The primary-market quote was IDR 3,990 on the IDX at 2:53 p.m. WIB, with a 52-week range of IDR 3,650 to IDR 5,375 and market capitalization of IDR 372.4 trillion.

The further course of trading is shown by the continuously updated real-time quote of Bank Mandiri stock.