PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 590 18. FIXED ASSETS continued
Others
a. On 22 February 1990, the Bank signed a Joint Operation agreement KSO with PT Pakuwon
Jati, where PT Pakuwon Jati will build a shopping center and office tower with 17 storeys and other supporting facilities on land owned by Bank Mandiri, which located on Jalan Basuki
Rachmat No. 2, 4, 6 Surabaya. PT Pakuwon Jati is entitled to utilise the building for 22 years. The KSO agreement has matured on 21 February 2012 and the ownership of building has been
transferred to Bank Mandiri.
Through the Temporary utilisation agreement No. 05 dated 21 February 2012, developers can still utilise the building in the form of room rental for one year period until 20 February 2013. On
20 February 2013, the agreement has been extended until 20 February 2014. And through the Temporary utilisation agreement No. 02 dated on 2 April 2014, the agreement has been extended
from 21 February 2014 until 20 February 2015. However, the Bank has the right to terminate the agreement anytime if the Bank want to utilise the building or transfer the rights to third party.
The Bank signed Joint Operation Agreement “KSO” with PT Duta Anggada Realty Tbk. through Deed No. 105 on KSO Agreement dated 24 May 1991, which was amended by Deed No. 70
Addendum I on KSO Agreement dated 14 June 1991 and Deed No. 65 Addendum II on KSO Agreement dated 21 December 2011. These agreements regulate, amongst others, the
construction and management of two office towers, each with 27 floors, on land owned by the Bank. Duta Anggada is entitled to utilise the Tower 1 and Tower 2 buildings up to 15 May 2014
and 15 May 2016, respectively.
On 19 May 2014, the Bank and Duta Anggada has signed the agreement to transfer Tower 1 building to Bank Mandiri and Deed No. 43 dated 19 May 2014 regarding temporary utilisation
agreement, in which Duta Anggada is entitled to operate the Tower 1 building up to 15 May 2016.
b. Estimated fair values of land and buildings owned by the Bank as at 31 December 2014 is
determined using value of Sales Value of Tax Object NJOP. NJOP is regarded as the best estimates which reflect the fair value. As at 31 December 2014, the NJOP of land and buildings
owned by the Bank are Rp17,899,621 and Rp3,470,513, respectively. For assets other than lands and buildings, there is no significant difference between the estimated fair value and
carrying value of fixed assets.
c. Land rights acquired through Leasehold Certificate HGB that can be renewed will expire
between 2015 and 2039. Based on past experience, the Group has the confidence to extend the HGB.
d. As at 31 December 2014, Bank Mandiri have insured their fixed assets excluding land rights,
construction in progress and leased assets to cover potential losses from risk of fire, theft and natural disaster with PT Asuransi Adira Dinamika, PT Asuransi Dayin Mitra Tbk., PT Asuransi
Himalaya Pelindung, PT Asuransi Indrapura, PT Asuransi Jasatania, PT Asuransi Jasa Indonesia Persero, PT Asuransi Jasaraharja Putera, PT Asuransi Jaya Proteksi, PT Asuransi Rama Satria
Wibawa, PT Asuransi Ramayana Tbk., PT Asuransi Staco Mandiri was PT Asuransi Staco Jasapratama, PT Asuransi Wahana Tata, PT Caraka Mulia, PT Estika Jasatama, PT Gelora
Karya Jasatama, PT Krida Upaya Tunggal, PT Mandiri AXA General Insurance was PT Asuransi Dharma Bangsa, PT Sarana Lindung Upaya, PT Asuransi Bosowa Periskop, PT Asuransi Umum
Bumiputeramuda 1967, PT Asuransi Astra Buana, PT Asuransi Bangun Askrida, PT Asuransi Bintang, PT Asuransi Tugu Pratama, PT Central Asia Raya and PT Axa Mandiri Financial
Services,
with total
sum insured
of Rp5,560,233
and USD1,213,609
full amount
2013:Rp3,931,075 and USD92,520,780 full amount. Management believes that the above insurance coverage is adequate to cover possible losses that may arise on the assets insured.
e. Management also believes that there is no impairment of fixed assets as at 31 December 2014 and 2013.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 591 19. INTANGIBLE ASSETS
2014 2013
- Software 1,221,468
1,005,320 - Goodwill
423,115 154,935
1,644,583 1,160,255
Net of amortisation of Rp1,575,399 and Rp1,354,113 as at 31 December 2014 and 2013.
Software is amortised over its useful lives, which is 5 years refer to Note 2.r.i. As at 31 December 2014 and 2013, include in the software balance are construction in progress for
software amounting to Rp374,844 and Rp314,410, respectively. The estimated percentage of completion of software as at 31 December 2014 was ranging between 15 - 95 2013: 5 - 95.
Goodwill arises from the difference between the cost of acquisition with the fair value of Subsidiary’s assets acquired. Increase of goodwill balance in 2014 represents goodwill from acquisition of
InHealth Subsidiary in May 2014 refer to Note 1g. Goodwill is assessed regularly for impairment. As at 31 December 2014 and 2013 there is no impairment on the Bank’s goodwill.
20. OTHER ASSETS
2014 2013
Accrued income 3,272,972
2,563,524 Others - net
7,966,426 6,345,208
11,239,398 8,908,732
Accrued Income
2014 2013
Rupiah 2,725,046
2,175,900 Foreign currencies Note 61B.v
547,926 387,624
3,272,972 2,563,524
Accrued income mainly consist of accrued interest receivables from placements, marketable securities, Government Bonds, loans and accrued fees and commissions.
Others - net
2014 2013
Rupiah: Receivables from customer transactions
1,757,865 1,860,011
Receivables from mutual fund 696,502
1,000,521 Receivables from transactions related to ATM and credit card
636,502 597,376
Receivables from Government Bonds pledged as collateral 592,614
- Abandoned properties - net of accumulated losses arising from
impairment in net realisable value amounting to Rp947 and Rp947 as at 31 December 2014 and 2013, respectively
149,325 150,376
Receivables from policyholders 144,861
81,735 Repossessed assets - net of accumulated losses arising
from impairment in net realisable value amounting to Rp9,850 and Rp9,850 as at 31 December 2014
and 2013, respectively 23,688
23,988 Receivables from sales of marketable securities
- 254
Others 2,821,972
2,287,150 Total Rupiah
6,823,329 6,001,411
Foreign currencies: Receivables from customer transactions Note 61B.v
6,337 5,622
Receivables to policyholder Note 61B.v 6,389
3,046 Receivable from sale of marketable securities Note 61B.v
261,870 -
Others 1,120,006
624,541 Total foreign currencies
1,394,602 633,209
Total 8,217,931
6,634,620 Less: Allowance for possible losses
251,505 289,412
7,966,426 6,345,208
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 592 20. OTHER ASSETS continued
Receivables from customer transactions mainly consist of receivables arising from securities transactions of PT Mandiri Sekuritas Subsidiary. As at 31 December 2014 and 2013, included in
receivables from customer transactions is an impaired portfolio amounting to Rp67,134 and Rp89,330, respectively.
Receivables from mutual fund related with receivable from securities portfolio transactions of unit- linked contracts, from mutual funds that consolidated by Subsidiary.
Receivables related to ATM and credit card transactions represent receivable arising from ATM transactions within ATM Bersama, Prima and Link network and receivable from Visa and MasterCard
on credit card transactions.
Receivables from Government Bonds pledged as collateral represent receivables in relation to “repo to maturity” transaction with a counterparty, where the Bank has transferred VR0031 with nominal
value of Rp600,000 and recognised a receivable equivalent to the cash value of VR0031 Refer to Note 36f. This receivable will be settled at a net basis with the settlement of the corresponding
liabilities of Rp600,000 to the counterparty on the due date 25 July 2020.
Receivables to policyholders represent the Subsidiary’s receivables to policyholders related to policyholders’ premium of non unit-linked products.
Receivables from sales of marketable securities represent receivables arising from sale of marketable securities which have settlement date on 2 January 2015 and 2 January 2014,
respectively for the year 2014 and 2013.
Others mainly consist of inter-office accounts, various receivables from transaction with third parties, including clearing transactions and others.
Movement of allowance for possible losses on other assets are as follows:
2014 2013
Balance at beginning of the year 289,412
276,769 Reversal during the year Note 45
42,475 23,070
Others 4,568
35,713
Balance at end of the year 251,505
289,412
Including effect of foreign currency translation.
Management believes that the allowance for possible losses is adequate.
21. DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS
a. By Currency, Related Parties and Third Parties:
2014 2013
Rupiah: Related parties Note 55
9,752,670 11,183,111
Third parties 69,226,136
62,224,062 Total Rupiah
78,978,806 73,407,173
Foreign currencies: Related parties Note 55
9,998,549 15,324,039
Third parties 39,076,203
34,696,437 Total foreign currencies Note 61B.v
49,074,752 50,020,476
128,053,558 123,427,649
Included in demand deposits were wadiah deposits amounting Rp5,186,571 and Rp7,507,387 as at 31 December 2014 and 2013, respectively.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 593 21. DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS continued
b. Average Interest Rates Cost of Funds and Range of Profit Sharing per Annum: continued
Average interest rates cost of funds per annum:
2014 2013
Rupiah 2.00
1.97 Foreign currencies
0.27 0.29
Range of profit sharing per annum on wadiah deposits:
2014 2013
Rupiah 0.70 - 0.81
0.72 - 0.87 Foreign currencies
0.18 - 0.81 0.17 - 0.87
c. As at 31 December 2014 and 2013, demand deposits pledged as collateral for bank guarantees,
loans and trade finance facilities irrevocable Letters of Credits were amounting Rp3,959,724 and Rp3,392,353, respectively Note 12B.c and 31e.
22. DEPOSITS FROM CUSTOMERS - SAVING DEPOSITS
a. By Currency, Type, Related Parties and Third Parties:
2014 2013
Rupiah: Related parties Note 55
Mandiri Saving 111,904
194,151 Third parties
Mandiri Saving 205,731,289
193,529,509 Mandiri Haji Saving
877,926 943,190
Total Rupiah 206,721,119
194,666,850 Foreign currencies:
Related parties Note 55 Mandiri Saving
9,779 8,054
Third parties Mandiri Saving
24,730,358 21,342,706
Total foreign currencies Note 61B.v 24,740,137
21,350,760 231,461,256
216,017,610
Included in saving deposits were wadiah deposits amounting Rp1,700,819 and Rp1,607,905 as at 31 December 2014 and 2013, respectively.
b. Average Interest Rates Cost of Funds per Annum:
2014 2013
Rupiah 1.50
1.54 Foreign currencies
0.20 0.21
c. As at 31 December 2014 and 2013, total saving pledged as collateral on loans were amounting
Rp6,180,991 and Rp4,994,583, respectively Note 12B.c.
