SECURITIES ISSUED Continued FUND BORROWINGS
26. FUND BORROWINGS Continued
d Others - Foreign currency 2002 2001 Direct off-shore loans 268,500 1,412,575 Others 10,776 581,294 279,276 1,993,86927. ALLOWANCE FOR POSSIBLE LOSSES ON COMMITMENTS AND CONTINGENCIES
a. Commitment and contingent transactions in the normal course of Bank Mandiri activities that have credit risk are as follows: 2002 2001 ___________ Rupiah: Outstanding irrevocable letters of credit Notes 46 895,933 185,269 Bank guarantees issued Notes 46 and 48 2,227,633 1,693,760 Standby letters of credit Notes 46 and 48 30,000 30,000 ___________ 3,153,566 1,909,029 Foreign currency: Outstanding irrevocable letters of credit Notes 46 5,475,295 5,358,803 Bank guarantees issued Notes 46 and 48 2,658,783 2,902,977 Standby letters of credit Notes 46 and 48 3,205,189 3,780,309 Commitment and contingent payables to a foreign branch of a local bank Note 46 - 2,908,049 ___________ 11,339,267 14,950,138 ___________ 14,492,833 16,859,167 b. By Collectibility: 2002 2001 Current 13,671,409 11,918,846 Special mention 780,360 796,851 Sub-standard 1,064 1,168,710 Doubtful 10,000 - Loss 30,000 2,974,760 Total 14,492,833 16,859,167 Less: Allowance for possible losses 1,211,211 5,284,345 Net commitmentsand contingencies 13,281,622 11,574,822 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 - 77 -27. ALLOWANCE FOR POSSIBLE ON COMMITMENTS AND CONTINGENCIES Continued
c. Movements of allowance for possible losses on commitments and contingencies: 2002 2001 Balance at beginning of year 5,284,425 7,010,271 Reversal during the year 3,364,433 1,913,412 Others 708,781 187,486 Balance at end of year 1,211,211 5,284,345 Includes foreign currency translation. The minimum allowance for possible losses on commitments and contingencies, under the guidelines prescribed by Bank Indonesia, as of December 31, 2002 and 2001 are Rp993,468 and Rp4,826,716, respectively. Management believes that the allowance for possible losses on commitments and contingencies is adequate.28. TAXATION a. Taxes payable
2002 2001 Bank Mandiri Income Taxes: Employee income tax - Article 21 35,432 26,859 Withholding tax - Article 2326 214,937 313,147 Land and building tax 79 40 Others 36,304 2,250 286,752 342,296 Subsidiaries 9,197 3,913 295,949 346,209b. Corporate income tax expense
2002 2001 Corporate income tax expense - current: Bank Mandiri only - - Subsidiaries 824 - 824 - Corporate income tax expense - deferred: Bank Mandiri only 2,187,484 1,104,475 Subsidiaries 35,445 - 2,222,929 1,104,475 2,223,753 1,104,475 As discussed in Note 2w, corporate income tax for Bank Mandiri and its Subsidiaries is computed for each company as a separate legal entity consolidation is not permitted for corporate income tax filing purposes.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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