These consolidated financial statements are originally issued in Bahasa.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
22
1. GENERAL INFORMATION continued
g. Subsidiaries associates continued PT Bank Mandiri Taspen Pos continued
On May 28, 2013, the Bank increased its investment in BSHB amounted to 11.77 of the total shares issued and fully paid, or at Rp32,377,072,750 full amount to purchase shares owned by a
couple BSHB minority shareholders with a total of 23,546,962 shares full amount. The addition of the Banks investments in BSHB has received approval from Bank Indonesia as contained in the
letter of Bank Indonesia No, 1533DPB1PB1-1 dated May 6, 2013.
On December 22, 2014, BSHB hold a Extraordinary General Meeting of Shareholders approved the issuance of 800,000,000 full amount of new shares to be bought by Bank Mandiri, PT Taspen
Persero and PT Pos Indonesia Persero. Changes in the composition of ownership has been effective on May 28, 2015 with the approval of the statement of changes in shareholders BSHB by
FSA Banking, with the composition of the final ownership is Bank Mandiri 58.25, PT Taspen 20.2, PT Pos 20,2 and individual shareholders 1.35. FSA Banking also approved
Taspen and PT Pos as a new shareholder as well as additional capital injection BSHB Bank in BSHB amounted to Rp198,000.
On July 24, 2015, the FSA has approved the change of name of PT Bank Sinar Harapan Bali to PT Bank Mandiri Taspen Post and give permission to conduct business under the name of Bank
Mantap. The name change is accompanied permit change of logo of the FSA on July 31, 2015. The name and logo change has been announced to the public on August 7, 2015.
Prior to January 1, 2011, goodwill arising from the acquisition of PT Bank Mandiri, Taspen, Pos amounting to Rp19,219 amortized using the straight-line method over 5 five years with the
estimation of economic benefits of the goodwill. Effective January 1, 2011, in accordance with SFAS 22 Revised 2009, Business Combinations, goodwill is not amortized but is tested for
impairment annually. Bank periodically evaluates the impairment of goodwill in accordance with SFAS 48 Impairment of Assets see Note 2s. The balance of goodwill on December 31, 2015
amounted to Rp21,043.
PT Mandiri Tunas Finance
PT Mandiri Tunas Finance “MTF”, formerly PT Tunas Financindo Sarana “TFS” is a company engaged in consumer financing activities. MTF was established based on notarial deed of
Misahardi Wilamarta, S.H., No. 262 dated May 17, 1989 and approved by the Ministry of Justice through its decision letter No. C2-4868.HT.01.01.TH.89 dated June 1, 1989 and published in State
Gazette No. 57, Supplement No. 1369 dated July 18, 1989. MTF commenced its commercial activities in 1989. MTF obtained a business license to operate in leasing, factoring and consumer
financing from Minister of Finance in its decision letter No. 1021KMK.131989 dated September 7, 1989, No. 54KMK.0131992 dated January 15, 1992 and No. 19KMK.0172001 dated January
19, 2001. Based on notarial deed Dr. A. Partomuan Pohan, S.H., LLM, dated on February 6, 2009, the Bank entered into a sales and purchase agreement with MTF’s shareholders PT Tunas
Ridean Tbk. and PT Tunas Mobilindo Parama to acquire 51.00 ownership of MTF through its purchase of 1,275,000,000 shares of MTF the nominal value of Rp100 full amount per share
amounting to Rp290,000.
The acquisition of 51.00 of MTF shares ownership by Bank Mandiri was approved in the Extraordinary General Shareholders’ Meeting of MTF as stated in the Minutes of Extraordinary
General Shareholders’ Meeting No. 8 dated February 6, 2009 and listed in Legal Administration Ministry of Law and Human Rights as affirmed by the Ministry of Law and Human Rights through
its letter No. AHU-AH.01.10-01575 dated March 11, 2009.
These consolidated financial statements are originally issued in Bahasa.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
23
1. GENERAL INFORMATION continued
g. Subsidiaries associates continued PT Mandiri Tunas Finance continued
This acquisition has been approved by Bank Indonesia through the Decree of the Governor of Bank Indonesia No. 113DPB1TPB1-1 dated January 8, 2009.
The amendment of the TFS’s name to become MTF was undertaken on June 26, 2009, in accordance with a resolution on notarial deed of PT Tunas Financindo Sarana No. 181 dated
June 26, 2009, notarised by notarial Dr.Irawan Soerodjo, S.H., Msi. The Articles of Association was approved by the Ministry of Law and Human Rights Republic of Indonesia in its decision letter
No. AHU-4056.AH.01.02.TH.09 dated August 26, 2009.
Prior to January 1, 2011, goodwill arising from acquisitions amounted to Rp156,807 MTF amortized using the straight-line method over 5 five years with the estimation of economic
benefits of the goodwill. Effective January 1, 2011, in accordance with SFAS 22 Revised 2009, Business Combinations, goodwill is not amortized but is tested for impairment annually. Bank
periodically evaluates the impairment of goodwill in accordance with SFAS 48 Impairment of Assets see Note 2s. The balance of goodwill on December 31, 2015 amounted to Rp96,697.
Mandiri International Remittance Sendirian Berhad
Mandiri International Remittance Sendirian Berhad “MIR” is a wholly owned Subsidiary of Bank Mandiri and became a Malaysian legal entity on
March 17, 2009 based on registration No. 850077-P. MIR is engaged in money remittance service under the provisions of the Bank
Negara Malaysia “BNM”. MIR has obtained an approval from Bank Indonesia “BI” through letter No. 10548DPB1 dated
November 14, 2008 and approval from BNM to conduct operational activities through its letter No. KL.EC.15018562 dated November 18, 2009. MIR officially
commenced its operations on November 29, 2009 and is currently located in Kuala Lumpur,
Malaysia. The services provided by MIR is currently limited to remittance service to Bank Mandiri’s customer accounts.
PT AXA Mandiri Financial Services
PT AXA Mandiri Financial Services AXA Mandiri is a joint venture company between PT Bank Mandiri Persero Tbk. Bank Mandiri and National Mutual International Pty Ltd NMI that is
engaged in Life Insurance. AXA Mandiri was formerly established under the name of PT Asuransi Jiwa Staco Raharja on September 30, 1991 by notarial deed No. 179 of Muhani Salim, S.H. The
deed of establishment was approved by the Minister of Justice of the Republic of Indonesia through its letter No. C2-6144.HT.01.01.TH.91 dated October 28, 1991. The Company obtained its
life insurance license through General Directorate of Finance Institution decision letter No. KEP.605KM.131991 and officially commenced its operations on December 4, 1991. The
Company’s name was then changed to PT Asuransi Jiwa Mandiri and subsequently changed to PT AXA Mandiri Financial Services. This change was approved by the Ministry of Justice and
Human Rights in its decision letter No. C-28747.HT.01.04.TH.2003 dated December 10, 2003, and was published in State Gazette No. 64, Supplement No. 7728 dated August 10, 2004 with
composition shareholder 51.00 of NMI and 49.00 of Bank Mandiri.
The shareholders of Bank Mandiri, at the Annual General Meeting held on May 17, 2010 in article 7, had approved the acquisition of additional shares in AXA Mandiri through the purchase
of 2.00 of the total shares issued and fully paid shares in AXA Mandiri directly from NMI.
