PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5131 37. INTEREST AND SHARIA EXPENSE
Interest and sharia expense are incurred on the following:
2011 2010
Time deposits 10,031,286
8,939,093 Saving deposits
3,008,988 2,585,365
Demand deposits 1,116,436
1,294,351 Insurance premiums on third party funds guarantee
program Note 59 759,174
651,057 Subordinated loans
434,401 434,964
Fund borrowings 282,964
279,439 Marketable securities issued
133,789 100,218
Others 167,004
110,111 15,934,042
14,394,598
Included in interest expense of time deposits and saving deposits is expense based on sharia principle for the years ended 31 December 2011 and 2010 amounting to Rp1,780,550 and Rp1,161,680,
respectively.
Included in interest and sharia expense above are interest expense from related parties transactions from fund borrowings for the years ended 31 December 2011 and 2010 amounting to Rp5,435 and
Rp8,565, respectively refer to Note 51.
38. OTHER OPERATING INCOME – OTHERS
2011 2010
Recovery of written-off loans relating to implementation of SFAS 55 Revised 2006
2,997,761 1,834,289
Income from loan written-off 589,961
237,897 Income from penalty
100,849 108,810
Stamp duty income 50,086
47,348 Safety deposit box
21,536 21,247
Others 652,207
485,939 4,412,400
2,735,530
For 2011 the amount includes receipt of PT Garuda Indonesia Persero “Garuda” Tbk’s Mandatory Convertible Bond p rincipal settlement amounting Rp967,869 refer to Note 51.
For 2011 the amount includes receipt of interest portion of settlement of Garuda MCB amounting Rp433,054 refer to Note 51.
39. ALLOWANCE FOR IMPAIRMENT LOSSES
2011 2010
Allowancereversal for impairment losses on: Current accounts with other banks Note 5d
828 3,323
Placements with other banks Note 6e 7,300
63,286 Marketable Securities Note 7g
17,530 167,895
Other receivables - trade transactions Note 9d 98,692
269,594 Derivative receivables Note 11
- 412
Loans Note 12B.j 3,407,728
2,450,235 Consumer financing receivables Note 13c
113,083 46,116
Net investment in lease finance 197
- Acceptance receivables Note 14 d
151,154 117,977
Investments in shares Note 15c 850
614
3,297,670 2,986,23 4
40. REVERSAL FOR POSSIBLE LOSSES
2011 2010
Reversalallowance provision for: Estimated losses arising from fraud cases
40,022 62,114
Estimated losses arising from legal cases Note 30 14,576
61,381 Others assets Note 18
339,620 89,803
Others -
1,758 285,022
88,778
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5132 41. UNREALISED
GAINSLOSSES FROM
INCREASEDECREASE IN
FAIR VALUE
OF MARKETABLE SECURITIES, GOVERNMENT BONDS AND POLICYHOLDER’S INVESTMENT IN
UNIT-LINKED CONTRACTS
2011 2010
Marketable securities 9,139
19,613 Government Bonds
60,764 10,813
Changes in market value of policyholders’ investment and increasedecrease in liability in unit-linked contracts
- Change in market value of policyholders’ - investment 164,575
611,814 - Decrease in liability in unit-linked contracts
164,575 665,641
69,903 23,401
42. GAINS ON SALE OF MARKETABLE SECURITIES AND GOVERNMENT BONDS
2011 2010
Marketable securities 81,400
184,513 Government Bonds
35,736 102,357
117,136 286,870
43. SALARIES AND EMPLOYEE BENEFITS
2011 2010
Salaries, wages, pension and tax allowances 3,892,610
3,298,782 Holidays THR, leave and related entitlements
807,860 522,467
Training and education 328,906
317,988 Employee benefits in kind
424,182 253,976
Provision for post-employment benefit expenses and free of service year
207,772 404,299
Provision of tantiem 109,822
86,782 Bonuses and others
995,319 917,879
6,766,471 5,802,173
Total gross salaries and allowances, bonustantiem, long-term employment benefits of the Boards of Commissioners, Directors, Audit Committee and Risk Monitoring and Good Corporate Governance
Committee, Syariah Supervisory Board and Executive Vice President and Senior Vice President are amounting to Rp405,791 and Rp353,831 for the years ended 31 December 2011 and 2010,
respectively as follows:
31 December 2011 Long-term
Salaries and Bonus
Employment Allowance
Tantiem Benefits
Total
The Board of Commissioners 29,278
25,675 1,930
56,883 Directors
94,231 84,146
5,380 183,757
Audit Committee and Risk Monitoring and Good Corporate Governance Committee
1,614 691
- 2,305
Syariah Supervisory Board 837
- -
837 Executive Vice Presidents and
Senior Vice Presidents 105,055
41,925 15,029
162,009 231,015
152,437 22,339
405,791
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5133 43. SALARIES AND EMPLOYEE BENEFITS continued
31 December 2010 Long-term
Salaries and Bonus
Employment Allowance
Tantiem Benefits
Total
The Board of Commissioners 22,656
18,067 2,719
43,442 Directors
81,389 65,430
7,510 154,329
Audit Committee and Risk Monitoring and Good Corporate Governance Committee
1,467 523
- 1,990
Syariah Supervisory Board 772
- -
772 Executive Vice Presidents and
Senior Vice Presidents 87,696
50,092 15,510
153,298 193,980
134,112 25,739
353,831
44. GENERAL AND ADMINISTRATIVE EXPENSES
2011 2010
Professional fees 1,108,914
675,022 Promotions
929,292 881,846
Rent 864,746
642,728 Repairs and maintenance
631,524 470,854
Communications 577,075
471,894 Depreciation and amortisation of fixed assets Note 17
465,730 448,616
Office supplies 407,006
342,891 Goods and services provided by third parties
400,747 383,873
Electricity, gas and water 343,654
307,704 Transportations
222,711 170,528
Traveling 145,454
108,170 Insurance
60,564 35,598
Others 420,226
528,248 6,577,643
5,467,972
For the year ended 31 December 2011 and 2010, promotions expenses included the sweepstakes prize expense of third party funds amounting to Rp46,247 and Rp47,423.
45. EMPLOYEE BENEFITS
Under the Bank’s policy, in addition to salaries, employees are entitled to allowances and benefits, such as yearly allowance THR, pre-retirement MBT allowance, medical reimbursements, death allowance,
leave allowance, functional allowance for certain levels, pension plan for permanent employees, incentives based on employee’s and the Bank’s performance, and post-employment benefits in
accordance with prevailing Labor Law.