Q1 2024 Bank Mandiri (Persero) Tbk PT Earnings Call Transcript
You'll send your questions via e-mails afterwards, and we'll try our best to reply to your question as soon as we can. Now, to start, I would like to hand the presentation over to Pak Darmawan, our CEO. Please Darmawan.
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Thank you, Leo. Ladies and gentlemen, allow me to start by going into the macroeconomic aspects that are shaping our current landscape. Overall, we see a relatively stable economic growth rate of 5.05% in 2023 and expect a similar rate of growth in 2024 as we expect a robust interplay of factors, including increased household spending and government expenditure.
Moreover, we still see a relatively stable inflation in first quarter 2024 at 3.05% level, in line with BI target. However, a weakening currency has post BI to increase the reference rate by 25 basis points to 6.25% level, which we expect to come back to 6% level towards the end of the year.
Moving to banking industry, tight liquidity environment remains
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