February 6, 2018 / 10:26 AM / 7 months ago

Indonesia's Bank Mandiri may weigh buying a bank in Philippines -CEO

JAKARTA, Feb 6 (Reuters) - Indonesia’s largest lender by assets PT Bank Mandiri will consider buying a bank in the Philippines after its non-performing loan (NPL) ratio falls to below 3 percent, chief executive Kartika Wirjoatmodjo told reporters on Tuesday.

He did not share further details about the plan.

Mandiri has lowered its NPL ratio to 3.46 percent in 2017 from 4 percent a year earlier, which has helped the bank increase net profit by 49 percent. (Reporting by Cindy Silviana; Writing by Fransiska Nangoy Editing by Muralikumar Anantharaman)

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