LOANS Continued LOANS Continued
12. LOANS Continued
B. Significant information related to loans Continued: f. Loans to Related Parties Loans to related parties amounted to Rp899,232 and Rp926,833 as of December 31, 2002, and 2001, respectively, or 0.36 and 0.35 of total assets in 2002 and 2001, respectively. Details of loans given to related parties are as follows: 2002 2001 Related parties due to conversion of debt to equity: PT Semen Kupang Persero 352,300 304,081 PT Sentral Star Knitting 49,973 58,162 PT Kertas Padalarang 6,000 6,000 PT Pann Multi Finance 4,780 5,417 413,053 373,660 Related parties: Republic of Indonesia 261,334 303,806 PT Estika Sedaya Finance 67,931 66,042 PT Stacomitra Sedaya Finance 66,298 69,843 PT Staco Bosowa Finance 56,712 67,636 PT Bayu Beringin Lestari 27,600 37,100 PT Estika Jasa Kelola 4,393 7,323 Employee loans 1,911 1,423 486,179 553,173 899,232 926,833 These are subsidiaries of the Bank’s pension fund. The loans to Bank Mandiri employees consist of interest-bearing loans at 6 - 9 per annum in 2002 and 2001, and are intended for the acquisition of vehicles, houses and other personal property, and are repayable within 1 to 20 years through monthly payroll deductions. PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 51 -12. LOANS Continued
B. Significant information related to loans Continued: g. Legal Lending Limit “LLL” As of December 31, 2002 and 2001, Bank Mandiri has not exceeded the LLL. h. Bank Mandiri has several loan-channeling agreements in place with several international financial institutions Note 56. i. Bank Mandiri does not capitalize interest in arrears. There was no capitalized interest in arrears for the years ended December 31, 2002 and 2001. j. Movements of Allowance for Possible Losses on Loans The allowance for possible loan losses is comprised of: 2002 2001 Allowance for possible loan losses 8,617,748 6,100,252 Allowance for possible losses on loans purchased from IBRA Note 12.B.m 288,797 - 8,906,545 6,100,252 The movements of allowance for possible loan losses excluding allowance for possible losses on loans purchased from IBRA are as follows: 2002 2001 Balance at beginning of year 6,100,252 12,499,948 Provision during the year 4,674,192 6,041,703 Loan recoveries 5,295,327 1,960,147 Write-offs 6,481,462 12,732,638 Others 970,561 1,668,908 Balance at end of year 8,617,748 6,100,252 Include loan full write-back to on-balance sheet of Raja Garuda Mas Group “RGM” exposures of Rp4,170,712 in 2002. Write-offs in 2002 include write-off of repurchase loans written-off below Rp5,000 and prior to legal merger at repurchase price of Rp2,520,119 Notes 12.B.l and 58.e and partial write-off of loans to RGM amounting to Rp2,691,355 in 2002 Includes foreign currency translation. PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 52 -12. LOANS Continued
Parts
» 2002 12 Full Audited Financial Statements w Notes
» GENERAL 2002 12 Full Audited Financial Statements w Notes
» GENERAL Continued 2002 12 Full Audited Financial Statements w Notes
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued
» BANK MANDIRI MERGER AND RECAPITALIZATION
» BANK MANDIRI MERGER AND RECAPITALIZATION Continued
» BANK MANDIRI MERGER AND RECAPITALIZATION Continued CURRENT ACCOUNTS WITH BANK INDONESIA
» CURRENT ACCOUNTS WITH OTHER BANKS
» CURRENT ACCOUNTS WITH OTHER BANKS Continued PLACEMENTS WITH OTHER BANKS
» PLACEMENTS WITH OTHER BANKS Continued
» PLACEMENTS WITH OTHER BANKS Continued SECURITIES
» SECURITIES Continued SECURITIES Continued
» SECURITIES Continued 2002 12 Full Audited Financial Statements w Notes
» GOVERNMENT BONDS Continued 2002 12 Full Audited Financial Statements w Notes
» TRADE DOCUMENTS AND OTHER FACILITIES
» TRADE DOCUMENTS AND OTHER FACILITIES Continued
» SECURITIES PURCHASED WITH AGREEMENTS TO RESELL
» DERIVATIVE RECEIVABLES AND PAYABLES DERIVATIVE RECEIVABLES AND PAYABLES Continued
» DERIVATIVE RECEIVABLES AND PAYABLES Continued LOANS LOANS Continued
» LOANS Continued 2002 12 Full Audited Financial Statements w Notes
» LOANS Continued LOANS Continued
» LOANS Continued ACCEPTANCES RECEIVABLE
» ACCEPTANCES RECEIVABLE Continued INVESTMENTS IN SHARES OF STOCK
» INVESTMENTS IN SHARES OF STOCK Continued
» INVESTMENTS IN SHARES OF STOCK Continued PREMISES AND EQUIPMENT PREMISES AND EQUIPMENT Continued
» PREMISES AND EQUIPMENT Continued
» OTHER ASSETS 2002 12 Full Audited Financial Statements w Notes
» OTHER ASSETS Continued 2002 12 Full Audited Financial Statements w Notes
» DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS DEPOSITS FROM CUSTOMERS - SAVINGS DEPOSITS
» DEPOSITS FROM OTHER BANKS - DEMAND DEPOSITS
» DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT Continued
» SECURITIES SOLD WITH AGREEMENT TO REPURCHASE
» ACCEPTANCES PAYABLE 2002 12 Full Audited Financial Statements w Notes
» SECURITIES ISSUED 2002 12 Full Audited Financial Statements w Notes
» SECURITIES ISSUED Continued FUND BORROWINGS
» FUND BORROWINGS Continued 2002 12 Full Audited Financial Statements w Notes
» ALLOWANCE FOR POSSIBLE LOSSES ON COMMITMENTS AND CONTINGENCIES
» ALLOWANCE FOR POSSIBLE ON COMMITMENTS AND CONTINGENCIES Continued
» Corporate income tax expense
» TAXATION Continued c. Corporate income tax expense - current
» TAXATION Continued c. Corporate income tax expense - current continued
» Corporate income tax expense - deferred
» TAXATION CONTINUED e. Deferred tax assets
» OTHER LIABILITIES 2002 12 Full Audited Financial Statements w Notes
» OTHER LIABILITIES Continued SUBORDINATED LOANS
» SUBORDINATED LOANS Continued 2002 12 Full Audited Financial Statements w Notes
» SUBORDINATED LOANS Continued SUBORDINATED LOANS Continued
» LOAN CAPITAL 2002 12 Full Audited Financial Statements w Notes
» LOAN CAPITAL Continued 2002 12 Full Audited Financial Statements w Notes
» MINORITY INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES SHAREHOLDER’S EQUITY
» SHAREHOLDER’S EQUITY Continued
» INTEREST INCOME 2002 12 Full Audited Financial Statements w Notes
» INTEREST EXPENSE 2002 12 Full Audited Financial Statements w Notes
» OTHER FINANCING EXPENSES 2002 12 Full Audited Financial Statements w Notes
» PROVISIONREVERSAL OF ALLOWANCE FOR POSSIBLE LOSSES ON EARNING ASSETS
» GAINLOSS FROM INCREASEDECREASE IN VALUE OF SECURITIES AND GOVERNMENT BONDS
» GAIN FROM SALE OF SECURITIES AND GOVERNMENT BONDS
» GENERAL AND ADMINISTRATIVE EXPENSES SALARIES AND EMPLOYEE BENEFITS
» SALARIES AND EMPLOYEE BENEFITS Continued PENSION PLAN AND EMPLOYEE SERVICE ENTITLEMENTS
» PENSION PLAN AND EMPLOYEE SERVICE ENTITLEMENTS Continued
» OTHER OPERATING INCOME - OTHERS
» OTHER OPERATING EXPENSES - OTHERS
» NON-OPERATING INCOMEEXPENSES - NET
» COMMITMENTS AND CONTINGENCIES 2002 12 Full Audited Financial Statements w Notes
» COMMITMENTS AND CONTINGENCIES Continued
» FOREIGN CURRENCY TRANSACTIONS 2002 12 Full Audited Financial Statements w Notes
» BANK GUARANTEES RECEIVED AND ISSUED AND STANDBY LETTERS OF CREDIT Continued
» RISK MANAGEMENT 2002 12 Full Audited Financial Statements w Notes
» RISK MANAGEMENT Continued 2002 12 Full Audited Financial Statements w Notes
» MATURITY PROFILE 2002 12 Full Audited Financial Statements w Notes
» NET OPEN POSITION 2002 12 Full Audited Financial Statements w Notes
» CAPITAL ADEQUACY RATIO 2002 12 Full Audited Financial Statements w Notes
» NON-PERFORMING EARNINGS 2002 12 Full Audited Financial Statements w Notes
» SEGMENT INFORMATION 2002 12 Full Audited Financial Statements w Notes
» SEGMENT INFORMATION Continued 2002 12 Full Audited Financial Statements w Notes
» CUSTODIAL AND TRUST OPERATIONS
» CUSTODIAL AND TRUST OPERATIONS Continued
» CHANNELING LOANS 2002 12 Full Audited Financial Statements w Notes
» RELATED PARTY 2002 12 Full Audited Financial Statements w Notes
» RELATED PARTY TRANSACTIONS Continued SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES Continued
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES Continued ECONOMIC CONDITIONS
» ECONOMIC CONDITIONS 2002 12 Full Audited Financial Statements w Notes
» ECONOMIC CONDITIONS Continued 2002 12 Full Audited Financial Statements w Notes
» GOVERNMENT GUARANTEE OF OBLIGATIONS OF LOCALLY INCORPORATED BANKS
» SUBSEQUENT EVENTS SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN ACCOUNTING PRINCIPLES
» SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN ACCOUNTING PRINCIPLES
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