PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
119
49. SEGMENT INFORMATION continued
Secondary Segment Information for the year ended December 31, 2007:
Pacific Indonesia
Asia West Europe
Cayman Elimination
Consolidated
Operating income 26,589,718
298,933 206,341
210,584 -
27,305,576 Inter-segment operating income
320,708 -
- -
320,708 -
Operating income including inter-segment operating income
26,910,426 298,933
206,341 210,584
320,708 27,305,576
Operating expenses 20,351,904
184,005 144,040
412,710 -
21,092,659 Inter-segment operating expenses
21,428 -
- -
21,428 -
Operating expenses including inter-segment operating expenses
20,373,332 184,005
144,040 412,710
21,428 21,092,659
Income from operations 6,537,094
114,928 62,301
202,126 299,280
6,212,917 Net income
4,299,212 102,884
44,107 201,046
301,025 4,346,224
Total assets 306,354,573
3,658,886 2,654,475
9,375,346 2,957,690
319,085,590 Total assets as a percentage of
total consolidated assets prior to elimination
95.13 1.14 0.82
2.91
50. CAPITAL ADEQUACY RATIO
The Capital Adequacy Ratio CAR is the ratio of the Bank’s capital over its Risk-Weighted Assets RWA. Under Bank Indonesia regulations, total capital includes core Tier I capital and supplementary capital
Tier II less investments in subsidiaries. To calculate the market risk exposure, the Bank could include the supplementary capital Tier III. Supplementary capital for taking account of market risk Tier III is short-term
subordinated loans which meet the criteria as capital components. The CAR of Bank Mandiri Bank Mandiri only as of December 31, 2008 and 2007 was 15.72 and 21.11 for CAR with credit risk and 15.66 and
20.75 for CAR with credit risk and market risk, respectively, and calculated as follows:
2008 2007
Capital: Tier I
22,182,866 23,194,122
Tier II 7,960,702
7,624,716 Total Tier I and Tier II
30,143,568 30,818,838
Less: Investments in subsidiaries 2,966,634
2,535,000 Total capital for credit risk Note 51
27,176,934 28,283,838
Tier III which allocated to anticipated market risk -
- Total capital for credit risk and market risk
27,176,934 28,283,838
Credit RWA 172,833,315
133,960,413 Market RWA
699,652 2,355,524
Total Risk-Weighted Assets for credit and market risk 173,532,967
136,315,937 Excludes the impact of deferred tax assets of Rp1,958,650 and Rp700,262 as of December 31, 2008 and 2007 and unrealized
losses of available for sale Securities and Government Bonds available for sale of Rp236,543 and Rp5,097 as of December 31, 2008 and 2007. On April 30, 2003, Bank Mandiri underwent a quasi-reorganization which accumulated losses of Rp162,874,901
was eliminated against additional paid-in capitalagio.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
120
50. CAPITAL ADEQUACY RATIO continued
2008 2007
CAR for credit risk 15.72
21.11 CAR for credit risk and market risk Note 55d
15.66 20.75
Minimum CAR 8
8
The Bank’s minimum capital adequacy ratio on a consolidated basis as of December 31, 2008 after considering market risk is 15.71 and without considering market risk is 15.78.
51. NET OPEN POSITION
Net Open Position calculation as of December 31, 2008 and 2007 is based on Bank Indonesia’s Regulation No. 737PBI2005 dated September 30, 2005. Based on such regulation, banks are required to maintain
aggregate and balance sheet net open position at a maximum of 20 of total capital. In accordance with Bank Indonesia guidelines, the aggregate net open position ratio is the sum of the absolute values of the net
difference between assets and liabilities denominated in each foreign currency which are stated in Rupiah plus the net difference of receivables and payables of both commitments and contingencies recorded in the
administrative accounts denominated in each foreign currency, which are stated in Rupiah. The Net Open Position for balance sheets is the net difference between total assets and total liabilities in the balance sheets
denominated in each foreign currency, which are stated in Rupiah.
The Net Open Position of Bank Mandiri by currency as of December 31, 2008 was as follows:
Currency Assets
Liabilities Net Open Position
AGGREGATE ON OFF BALANCE SHEET
United States Dollar 61,593,324
63,497,969 1,904,645
Euro 917,496
886,840 30,656
Hong Kong Dollar 673,414
82,356 591,058
Singapore Dollar 369,806
352,951 16,855
Japanese Yen 295,094
296,794 1,700
Australia Dollar 145,389
124,161 21,228
Great Britain Poundsterling 129,950
37,564 92,386
Others 35,765
6,466 29,299
Total 2,687,827
ON-BALANCE SHEET
United States Dollar 60,108,482
59,666,442 442,040
Euro 903,675
834,465 69,210
Hong Kong Dollar 372,507
91,185 281,322
Singapore Dollar 331,603
330,011 1,592
Japanese Yen 283,981
279,351 4,630
Australia Dollar 145,019
121,895 23,124
Great Britain Poundsterling 86,938
18,589 68,349
Others 35,765
6,466 29,299
Total 919,566
Total Tier I and Tier II Capital less investments in subsidiaries Note 50
27,176,934
NOP Ratio On-Balance Sheet 3.38
NOP Ratio Aggregate Note 55e 9.89
NOP Ratios as of December 31, 2008 based on the total capital as of November 2008 unaudited are as follows:
Total Capital November 2008 28,285,306
NOP Ratio On-Balance Sheet 3.25
NOP Ratio Aggregate 9.50
