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
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129
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54. SEGMENT INFORMATION Continued
Secondary Segment Information as of and for the Year Ended December 31, 2001
Indonesia Asia
Europe Other
Elimination Consolidated Domestic
Operating income 30,424,579
573,995 119,666
1,833,675 -
32,951,915 Inter-segment operating
income 42,584
- -
- 42,584
- Operating income including
inter-segment operating
income 30,467,163
573,995 119,666
1,833,675 42,584 32,951,915
Operating expenses 26,519,414
475,208 92,987
1,458,955 -
28,546,564 Inter-segment operating
expenses 18,902
- - - 18,902 -
Operating expenses including inter-segment
operating expenses
26,500,512 475,208 92,987
1,458,955 18,902 28,546,564
Profit from Operations 1,210,595
108,361 25,519
362,460 61,485
1,645,450 Net Profit
2,313,644 105,481
25,473 362,460
61,301 2,745,757
Total Assets 243,071,918
5,848,110 1,253,121
13,780,770 1,662,924
262,290,995 Total assets as a percentage of
total consolidated assets prior to elimination
92.09 2.22
0.47 5.22
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
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130
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55. CUSTODIAL AND TRUST OPERATIONS
Custodial Operations Bank Mandiri has rendered custodial services since 1959 legacy banks: BDN, BEII, BBD and
Bapindo. As a result of the merger, the operating license for custodial services was renewed and re-issued based on BAPEPAM Decision Letter No. KEP.01PMKstd1999 dated October 4, 1999.
The Custodial Services Business “CSB”, which is part of the Securities Services Department the “SSD” of Bank Mandiri, provides a full range of custodial services such as:
a. Settlement and handling services for scrip and scripless trading transactions. b. Registration of securities to Biro Administrasi Efek, and splitting and merging of securities.
c. Safekeeping of securities and other valuable assets. d. Corporate action services related to the rights on the securities.
e. Proxy services for its customers’ shareholders’ meetings and obligation holders’ meetings. f. International services i.e. American Depository Receipts “ADR” and Global Depository
Receipts “GDRs”, which are required by entities listed on the domestic and overseas exchanges dual listing.
g. Sub-registry services for settlement of transactions of Indonesian recapitalization bonds “Government Bonds” as well as SBI’s.
h. Escrow Agent. Bank Mandiri has 238 and 144 custodial customers as of December 31, 2002 and 2001,
respectively. The customers are primarily pension funds, insurance companies, banks, securities and other private companies.
As of December 31, 2002 and 2001, CSB has 26 and 24 permanent employees, respectively. Total custodial fees and commissions earned for the years ended December 31, 2002 and 2001
amounted to Rp6,411and Rp6,791, respectively. Bank Mandiri carries insurance on custodial services against safekeeping and transit loss under
blanket policies amounting to approximately Rp175,000,000,000 full amount. Management is of the opinion that the insurance coverage is adequate to cover possible losses from safekeeping and
transit risks.
Trust Operations Bank Mandiri has been rendering trustee services since 1983 legacy banks: Bank Exim, BDN,
BBD and Bapindo. The operating license for trustee services was renewed and re-registered with BAPEPAM as stipulated in No. 17STTD-WAPM1999 dated October 27, 1999. The Trustee
Services Business “TSB”, which is part of the Securities Services Department “SSD” of Bank Mandiri, provides a full range of the following services:
a. Preparing documentation support to bond issuers in complying with required documents for issuance.
b. Signing the trustee agreement and other relevant document together with bond issuers and other related institutions.
c. Monitoring performance of issuers and compliance against required documentation as stipulated in trustee agreements on behalf of bond holders.
d. Facilitating bond holder meetings. e. Following up and executing the results of bond holder meetings as required and necessary.
f. Providing information on issuer’s performance as requested by BAPEPAM or bond holders.
g. Managing the sinking fund and other collateral as required by the bond’s issuance and terms and conditions.
h. Paying agent for dividend and selected coupon payment. i.
Escrow agent and security agent.
