PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
156
56. CHANNELING LOANS
Channeling loans based on sources of funds and economic sectors are as follows:
December 31, April 30, December 31,
2003 2003
2002
Government: Electricity, gas and water
9,722,709 9,564,015 9,383,357
Transportation and communications 6,604,057
7,089,813 7,259,986 Agriculture
1,694,085 1,692,122 1,692,624 Industry
854,454 630,553
635,527 Mining
101,812 118,731
134,434 Construction
18,489 20,307
20,919 Others
128,342 138,378
121,102 19,123,948 19,253,919 19,247,949
Bank Mandiri has been appointed to administer channeling loans in various foreign currencies received by the Government of Indonesia from various bilateral and multilateral financing institutions,
such as, The Export Import Bank of Japan, ASEAN Japan Development Fund, Overseas Economic Cooperation Fund, International Bank for Reconstruction and Development, Nordiska
Investeringbanken, Kreditanstalt Fur Wiederaufbau, Sumitomo, US AID, Barclays Bank, Bank of China, CN Lyonnais, Unibank, Bank of Austria, Ryobhin Hong Kong, Export Finance and Insurance
Cooperation - Australia, Mitsubishi Corporation, Chartered West LB, Banque Indosuez, Hitachi Zosen, NEC Corporation, Banque Francais du Comm, US Exim Bank, and Banque Paribas for financing
projects in Indonesia.
Channeling loans are not recognized in the consolidated balance sheets as the credit risk is not borne by the Bank or its Subsidiaries. Bank Mandiri’s responsibilities under the above arrangements include,
among others, collections from borrowers and payments to the Government of principal, interest and other charges and the maintenance of loan documentation. As compensation, Bank Mandiri receives
an annual administration fee which varies from 0.15 - 0.4 of the loan balances.
57. RELATED PARTY TRANSACTIONS
a. Banking Activities in the Ordinary Course of Business In the ordinary course of its business, Bank Mandiri engages in significant transactions with the
following related parties: Related by ownership:
The Government of the Republic of Indonesia Related by ownership andor management:
PT Semen Kupang Persero, PT Kertas Padalarang, PT Pann Multi Finance, PT Estika Sedaya Finance, PT Stacomitra Sedaya Finance, PT Bayu Beringin Lestari, PT Estika Jaya Kelola and
PT Staco Bosowa Finance.
Related by management andor key personel: Bank Mandiri’s employees.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
157
57. RELATED PARTY TRANSACTIONS continued
a. Banking Activities in the Ordinary Course of Business continued
December 31, April 30, December 31,
2003 2003
2002
Securities Note 7a 420,549
260,421 511,317
Government Recapitalization Bonds Note 8 122,906,853
150,332,380 148,845,927
Loans Note 11B.g 1,024,044
1,023,251 849,259
Deposit made to State Treasury Note 15 -
1,124,194 1,124,194
Interest refundable by the Government Note 15 25,267
25,267 25,267
Total assets involving related parties 124,376,713
152,765,513 151,355,964
Total consolidated assets 249,435,554
261,285,909 250,394,689
Percentage of assets involving related parties to total consolidated assets
49.86 58.47
60.44
=
Percentages of securities, Government Recapitalization Bonds, loans, Deposit made to State Treasury for tax appeal and interest receivable from the Government compared to the total
consolidated assets are as follows:
December 31, April 30, December 31,
2003 2003
2002
Securities Note 7a 0.17
0.10 0.20
Government Recapitalization Bonds Note 8 49.27
57.54 59.44
Loans Note 11B.g 0.41
0.39 0.34
Deposit made to State Treasury Note 15 -
0.43 0.45
Interest refundable by the Government Note 15 0.01
0.01 0.01
Total 49.86
58.47 60.44
Demand Deposits Note 16a 11,854
27,545 29,580
Saving Deposits Note 17b 8,769
2,406 32,823
Time Deposits Note 18f 354,490
3,698,710 1,332,690
Due to the Government arising from the return of additional paid-in capital Note 28
- -
1,412,000 Total liabilities involving related parties
375,113 3,728,661
2,807,093 Total consolidated liabilities
229,036,856 243,998,291
235,956,683 Percentage of liabilities involving related
parties to total consolidated liabilities 0.16
1.53 1.19
Salary, allowances and bonuses of the Boards of Directors and Commissioners and
Executive Officers Note 41 54,604
18,196 57,372
