0608 GMT - Bank Mandiri faces an earnings hit from an unexpected one-off operating expense, CGS International analysts say in a research report. At its analyst briefing, the Indonesian bank said it's targeting a 2025 cost-to-income ratio of around 45%, reflecting a post-audit one-off operating expense. Bank Mandiri also said total operating expenses would account for 10%-12% of estimated 2025 operating expenditure, with the adjustments booked from June through end-2025. CGS International cuts its 2025 and 2026 EPS forecasts for Bank Mandiri by 6.8% and 7%, respectively. It lowers its target price to IDR5,600.00 from IDR6,000.00, while maintaining an unchanged add rating. Shares are 0.2% higher at IDR4,390.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
September 22, 2025 02:08 ET (06:08 GMT)
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