Bank Mandiri Ensures Strong Liquidity Amid US Dollar Exchange Rate Changes

Jakarta –

PT Bank Mandiri (Persero) Tbk ensures that current liquidity conditions remain strong amid changes in the US dollar exchange rate caused by economic and geopolitical turmoil. The US dollar is still at the level of 16,200 IDR.

Mandiri Bank Corporate Secretary Teuku Ali Usman said his party had implemented several strategies to optimize asset and liability management. This regulation is regularly reviewed sensible while applying all aspects of risk management, including market and liquidity risks.

“This is according to a statement from the Ministry of BUMN that state-owned companies can expect turbulence in the financial market as a result of current geopolitical developments by maintaining proportionally the proportion of credit on which affected by the volatility of the rupiah, interest rates and oil prices,” Ali said in a statement. his official statement, Friday (19/4/2024)

Ali explained that Bank Mandiri’s fundamental position was in a healthy state with strong capital levels. This strong capital can be buffer when available shock on the economy and financial markets.

In addition, the current strengthening of the exchange rate of the US dollar against the rupiah has an indirect effect on the collection of Third Party Funds Foreign Currency (DPK). This is an effort to support the company’s business expansion and liquidity needs.

As of February 2024, Bank Mandiri has recorded deposits of IDR 1,209 trillion, growing 5.77% yoy with foreign exchange deposits recorded at $17.3 billion. The accumulation of foreign currency deposits was mainly driven by foreign exchange demand deposits which grew by 4.35% to US$ 12.7 billion. At the same time, situation loan to deposit account (LDR) forex can be kept below the 90% level.

“Going forward, to encourage the growth of foreign exchange deposits, especially for export customers, Bank Mandiri will be providing products wholesale and international bankingsolution tradeand services money management wide through Kopra le Mandiri and Livin’ le Mandiri,” he explained.

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