SECURITIES continued Bank Mandiri Tbk (english)
6. SECURITIES continued
g. Movements of Allowance for Possible Losses on Securities: 2008 2007 Balance at beginning of year 1,114,497 1,145,838 Write-off 1,018,809 - Reversal during the year Note 36 58,416 22,773 Others 6,774 8,,568 Balance at end of year 44,046 1,114,497 Includes effect of foreign exchange translation. Management believes that the allowance for possible losses on securities is adequate. Based on the letter of Bank Indonesia No. 10177DpGDPNP dated October 9, 2008, Determination of Fair Value and Reclassification of Government Bonds SUN, dated December 19, 2008 the Bank has reclassified trading and available for sale securities with nominal amount of Rp147,000 and Rp434,000, respectively to held to maturity securities. The fair value of trading and available for sale before reclassification amounted to Rp142,772 and Rp433,975, respectively, and the fair value of trading and available for sale securities at the time of reclassification amounted to Rp138,210 and Rp407,590, respectively. The difference between the fair value before and after reclassification coming from available for sale securities on reclassification date will be amortized till the securities matured. If the marketable securities remained as trading and available for sale securities, the market value as of December 31, 2008 amounted to Rp137,689 and Rp397,798, respectively, which have impact on the consolidated profit and loss amounting to Rp521 and consolidated shareholders’ equity amounting to Rp9,792.7. GOVERNMENT BONDS
Government Bonds consist of bonds issued by the Government acquired from primary and secondary markets with details as follows: 2008 2007 Trading, fair value 43,748 972,392 Available for sale, fair value 26,244,185 27,294,443 Held to maturity, at cost 61,971,106 61,199,482 88,259,039 89,466,317 Based on maturities, the Government Bonds are as follows: 2008 2007 Rupiah Trading: Less than 1 year 4,950 9,280 1 - 5 years 38,798 272,954 5 - 10 years - 261,452 Over 10 years - 409,943 43,748 953,629 Available for sale: Less than 1 year - 739,520 1 - 5 years 643,223 348,686 5 - 10 years 14,562,198 13,366,139 Over 10 years 10,946,419 12,761,785 26,151,840 27,216,130 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 447. GOVERNMENT BONDS continued
Based on maturities, the Government Bonds are as follows continued: 2008 2007 Rupiah continued Held to maturity: Less than 1 year 5,334 - 1 - 5 years 1,515,614 1,350,000 5 - 10 years 36,684,355 25,810,000 Over 10 years 23,642,622 33,934,598 61,847,925 61,094,598 Total Rupiah 88,043,513 89,264,357 Foreign currency Trading: 5 - 10 Years - 9,792 Over 10 years - 8,971 - 18,763 Available for sale: 5 - 10 years 47,723 49,321 Over 10 years 44,622 28,992 92,345 78,313 Held to maturity: 5 - 10 years 123,181 104,884 Total Foreign currency 215,526 201,960 88,259,039 89,466,317 2008 Rupiah Trading Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Fixed rate bonds 44,130 9.28- 43,748 08092009- 6 months 13.40 09152013 Available for sale Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Fixed rate bonds 461,466 9.00- 460,795 03122012- 6 months 14.28 11152020 Variable rate bonds 25,839,044 3-month SBI 25,691,045 06252011- 3 months 07252020 26,300,510 26,151,840Parts
» Recapitalization GENERAL continued b. Merger continued
» Initial Public Offering of the Bank’s Shares
» Quasi-Reorganization GENERAL continued d. Initial Public Offering of the Bank’s Shares continued
» Divestment of Government Share Ownership Structure and Management
» GENERAL continued g. Structure and Management continued
» Principles of Consolidation GENERAL continued g. Structure and Management continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued b. Principles of Consolidation continued
» Foreign Currency Transactions and Balances
» Transactions with Related Parties
» Placements with Bank Indonesia and Other Banks
» Securities SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued e. Cash and Cash Equivalents
» Government Bonds SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued g. Securities continued
» Other Receivables - Trade Transactions
» Securities PurchasedSold under ResellRepurchase Agreements
» Loans SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued g. Securities continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued l.
» Acceptances Receivable and Payable
» Investments in Shares of Stock
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Deposits from Customers SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued q. Other Assets
» Securities Issued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Income Tax SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Interest Income and Interest Expense
» Fees and Commissions SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Post-Employment Benefits SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Earning Per Share SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued CURRENT ACCOUNTS WITH BANK INDONESIA
» CURRENT ACCOUNTS WITH BANK INDONESIA continued CURRENT ACCOUNTS WITH OTHER BANKS
» CURRENT ACCOUNTS WITH OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued SECURITIES
» SECURITIES continued SECURITIES continued
» SECURITIES continued Bank Mandiri Tbk (english)
» SECURITIES continued GOVERNMENT BONDS GOVERNMENT BONDS continued
» GOVERNMENT BONDS continued Bank Mandiri Tbk (english)
» OTHER RECEIVABLES - TRADE TRANSACTIONS continued
» SECURITIES PURCHASED WITH AGREEMENTS TO RESELL
» SECURITIES PURCHASED WITH AGREEMENTS TO RESELL continued
» DERIVATIVE RECEIVABLES AND PAYABLES continued
» LOANS Bank Mandiri Tbk (english)
» LOANS continued LOANS continued
» LOANS continued Bank Mandiri Tbk (english)
» ACCEPTANCES RECEIVABLE Bank Mandiri Tbk (english)
» ACCEPTANCES RECEIVABLE continued INVESTMENTS IN SHARES OF STOCK
» INVESTMENTS IN SHARES OF STOCK continued
» PREMISES AND EQUIPMENT Bank Mandiri Tbk (english)
» PREMISES AND EQUIPMENT continued
» OTHER ASSETS continued DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS
» DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS continued DEPOSITS FROM CUSTOMERS - SAVINGS DEPOSITS
» DEPOSITS FROM CUSTOMERS - TIME DEPOSITS
» DEPOSITS FROM CUSTOMERS - TIME DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - DEMAND AND SAVINGS DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS continued
» SECURITIES SOLD WITH AGREEMENTS TO REPURCHASE
» ACCEPTANCES PAYABLE Bank Mandiri Tbk (english)
» ACCEPTANCES PAYABLE continued Bank Mandiri Tbk (english)
» SECURITIES ISSUED continued Bank Mandiri Tbk (english)
» Nil 2007 Bank Mandiri Tbk (english)
» FUND BORROWINGS Bank Mandiri Tbk (english)
» FUND BORROWINGS continued Bank Mandiri Tbk (english)
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES continued
» TAXATION continued e. Deferred Tax Assets
» OTHER LIABILITIES Bank Mandiri Tbk (english)
» OTHER LIABILITIES continued Bank Mandiri Tbk (english)
» SUBORDINATED LOANS continued Bank Mandiri Tbk (english)
» MINORITY INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES
» SHAREHOLDERS’ EQUITY Bank Mandiri Tbk (english)
» SHAREHOLDERS’ EQUITY continued Bank Mandiri Tbk (english)
» MANAGEMENT STOCK OPTION PLAN
» MANAGEMENT STOCK OPTION PLAN continued
» INTEREST INCOME Bank Mandiri Tbk (english)
» OTHER OPERATING INCOME - OTHERS
» PROVISION FOR POSSIBLE LOSSES ON EARNING ASSETS
» REVERSAL OF ALLOWANCE FOR POSSIBLE LOSSES - OTHERS - NET
» GAINSLOSSES FROM INCREASEDECREASE IN VALUE OF SECURITIES AND GOVERNMENT BONDS
» GENERAL AND ADMINISTRATIVE EXPENSES
» SALARIES AND EMPLOYEE BENEFITS
» SALARIES AND EMPLOYEE BENEFITS continued 2007 PENSION AND SEVERANCE
» PENSION AND SEVERANCE continued PENSION AND SEVERANCE continued
» PENSION AND SEVERANCE continued
» COMMITMENTS AND CONTINGENCIES Bank Mandiri Tbk (english)
» FOREIGN CURRENCY TRANSACTIONS continued RELATED PARTY TRANSACTIONS
» RELATED PARTY TRANSACTIONS continued
» RELATED PARTY TRANSACTIONS continued MATURITY PROFILE
» MATURITY PROFILE continued Bank Mandiri Tbk (english)
» MATURITY PROFILE continued SEGMENT INFORMATION
» SEGMENT INFORMATION continued Bank Mandiri Tbk (english)
» CAPITAL ADEQUACY RATIO Bank Mandiri Tbk (english)
» CAPITAL ADEQUACY RATIO continued
» NET OPEN POSITION Bank Mandiri Tbk (english)
» CUSTODIAL AND TRUST OPERATIONS continued
» CHANNELING LOANS Bank Mandiri Tbk (english)
» CHANNELING LOANS continued Bank Mandiri Tbk (english)
» RISK MANAGEMENT continued Bank Mandiri Tbk (english)
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES
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