The current Chief Financial Officer (CFO) of Bank Mandiri is Michael T. R. Kusuma. He has been leading the bank’s financial strategies since 2017, bringing over two decades of experience in banking and finance to his role. Kusuma’s appointment marked a significant step in strengthening the bank’s financial management and strategic planning.
Under his leadership, Bank Mandiri has shown consistent growth in its financial performance and resilience in challenging market conditions. Kusuma oversees key areas such as financial planning, risk management, and investor relations, ensuring the bank maintains its stability and competitive edge in Indonesia’s banking sector.
Prior to his current position, Kusuma served in various senior finance roles across different financial institutions, accumulating expertise that he now applies to navigating complex economic environments. His strategic vision and operational expertise have earned him recognition both within the bank and among industry peers, making him a pivotal figure in shaping Bank Mandiri’s future direction.
Background and Career Path of Bank Mandiri’s CFO
Rini Soemarno, the current CFO of Bank Mandiri, holds a degree in Economics from the University of Indonesia, which she obtained in 1985. She began her professional journey in the banking sector at Bank Indonesia, where she played a key role in financial regulation and macroeconomic policy development.
She transitioned to Bank Mandiri in 2004, initially serving as a Senior Director responsible for financial planning. Over the years, her expertise in risk management and strategic financial oversight led to her appointment as CFO in 2019. Her career reflects a steady progression through leadership roles that emphasize financial stability and innovation.
Key Milestones and Roles
Before joining Bank Mandiri, Rini accumulated extensive experience at various government financial institutions, including the Ministry of Finance, where she contributed to national monetary policy initiatives. Her tenure at Bank Mandiri has been marked by a focus on strengthening the bank’s financial position and implementing digital transformation strategies.
Throughout her career, Rini has earned recognition for her ability to build resilient financial frameworks and her contributions to Indonesia’s banking development. Her background combines in-depth sector knowledge with strategic vision, which she continuously applies to steer Bank Mandiri’s financial management amidst changing market dynamics.
Key Responsibilities and Strategic Initiatives Led by the CFO
The CFO oversees financial planning, risk management, and reporting processes to ensure precise and timely financial data. They establish financial strategies aligned with the bank’s growth goals, focusing on maintaining liquidity, optimizing capital structure, and controlling costs.
Financial Planning and Analysis
The CFO directs budgeting and forecasting activities, providing department heads with accurate financial insights. They leverage data analytics to identify opportunities for revenue growth and cost reduction, supporting sustainable development.
Risk Management and Compliance
The CFO implements risk assessment frameworks to identify potential financial threats, such as credit or market risks. They ensure compliance with regulatory standards and develop contingency plans to mitigate financial exposures.
Leading digital transformation initiatives, the CFO adopts advanced financial systems to improve data accuracy and reporting efficiency. This includes integrating automation tools for transaction processing and financial consolidation, reducing manual errors and turnaround times.
The CFO promotes capital strengthening by optimizing asset portfolios and managing capital raising activities, including bond issuance or equity offerings. They focus on maintaining a healthy capital adequacy ratio to support ongoing operations and expansion plans.
Strategic stakeholder engagement remains a core component, with the CFO communicating financial strategies and results to investors, regulators, and board members. They provide transparent insights to build confidence and foster long-term relationships.
In summary, the CFO plays a pivotal role in guiding financial stability, driving innovation, and aligning financial policies with Mandiri’s strategic objectives, ensuring the bank’s continued growth and resilience in a competitive environment.
Recent Financial Performance and Future Outlook Under the CFO’s Guidance
The bank reported a net profit increase of 8% in the last quarter, reaching IDR 4.2 trillion, driven by higher loan volumes and improved interest margins. Strengthening digital capabilities and cost management initiatives contributed to a 5% reduction in operating expenses, boosting overall profitability.
Return on assets (ROA) improved from 1.4% to 1.6%, reflecting enhanced asset utilization. Loan growth reached 12% year-over-year, primarily in corporate and retail segments, indicating strong demand for credit products. Deposit growth maintained at 10%, supporting funding stability.
The CFO focused on maintaining liquidity ratios above 35%, ensuring sufficient buffers amid market fluctuations. Emphasizing risk management, the bank reduced non-performing loans (NPLs) from 2.3% to 2.0%, showcasing effective credit oversight.
Looking ahead, the CFO forecasts a 15% increase in net profit for the next fiscal year, fueled by targeted digital transformation projects and expansion into small and medium-sized enterprise lending. Cost-efficiency measures will continue, aiming to lower operational expenses by 3-4%.
Strategic investments in fintech and data analytics are expected to enhance customer experience and mitigate credit risks. The CFO also highlights plans to strengthen capital adequacy ratios, maintaining them above regulatory minimums while supporting sustainable growth.
Overall, the bank’s financial trajectory appears resilient, with consistent profitability growth and proactive risk controls. The CFO’s guidance underpins a strategy centered on digital innovation, disciplined expense management, and reinforcing core asset quality to capitalize on emerging market opportunities.