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 5207 65. NEW ACCOUNTING PRONOUNCEMENTS continued
Financial Accounting Standard Board has issued several new accounting standard and interpretation or revision of SFAS and IFAS as mentioned below, which are relevant to Group consolidated financial
statements, and will become effective for the annual period beginning 1 January 2015: continued
- SFAS 48 revised 2013 “Impairment of asset”
- SFAS 50 revised 2013 “Financial instrument : Presentation”
- SFAS 55 revised 2013 “Financial instrument : Recognition and measurement”
- SFAS 60 revised 2013 “Financial instrument : Disclosures”
Early adoption of these new and revised standards prior to 1 January 2015 is not permitted. As at the authorisation date of this consolidated of financial statements, Bank Mandiri and
Subsidiaries are still evaluating the potential impact of these new and revised standards.
66. SUBSEQUENT EVENT Change in Organisation Structure
Bank Mandiri has restructured its organization structure that became effective as at 1 January 2015 as stated in the Decree SK of the Board of Directors No. KEP.DIR0012015 dated 2 January 2015
regarding Change in Organisation Structure PT. Bank Mandiri Persero Tbk. The organisation structure of Bank Mandiri are as follows:
1. Business Units, as the engine for business growth are divided into 7 seven Directorates, which
are Treasury Markets, Corporate Banking, Commercial Banking, Transaction Banking, Consumer Banking, Micro Business Banking and Distributions;
2. Corporate Center, responsible for managing corporate strategic activities and support the
corporate policies, which divided into 7 seven Directorates: Risk Management and Compliance, Human Capital, Finance Strategy, Wholesale Risk, Retail Risk, Corporate Transformation and
Internal Audit;
3. Shared Services, as a supporting unit to support the Bank’s overall operational activities and
managed by the Directorate of Technology Operations. The new composition of Bank Mandiri’s Board of Directors became effective as at 1 January 2015, as
stated in the Decree SK of the Board of Directors No. KEP.DIR0022015 dated 2 January 2015 regarding Roles and Responsibilities of the Directors and Appointment of Alternate Directors. The
members of Board of Directors are as follows:
1 January 2015
Board of Directors Group CEO
: Budi Gunadi Sadikin Deputy Group CEO
: Riswinandi Consumer Banking Director
: Abdul Rachman Distributions Director
: Sentot A. Sentausa Risk Management Compliance Director
: Ogi Prastomiyono Finance Strategy Director
: Pahala N. Mansury Corporate Banking Director
: Fransisca N. Mok Commercial Banking Director
: Sunarso Technology Operations Director
: Kresno Sediarsi Treasury Markets Director
: Royke Tumilaar Micro Business Banking Director
: Hery Gunardi
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 5208 66. SUBSEQUENT EVENT continued
Investment in PT Mandiri Utama Finance
On 16 April 2014, Bank Mandiri with PT Asco Investindo “ASCO” and PT Tunas Ridean Persero Tbk. “TURI” had signed preliminary agreement to establish a multi-finance company that can
accelerate Bank Mandiri’s financing, especially in automotive segment.
On 22 October 2014, Bank Mandiri with ASCO and TURI signed a shareholders agreement to establish a multi-finance company with total share capital of Rp100 billion, with the ownership
composition of 51, 37 and 12 respectively. On 23 December 2014, Bank Mandiri had obtained a principal approval from OJK Bank Supervisory.
On 21 January 2015, the agreement to set up the multi-finance company, namely PT Mandiri Utama Finance “MUF”, was signed and Bank Mandiri has fully paid the shares capital amounting Rp51
billion in accordance with Bank Mandiri’s ownership in MUF.
There will be further processes before MUF can commence its commercial operations, amongst other, to obtain business license as a multi-finance company from OJK Non-Bank financial institution.
67. SUPPLEMENTARY INFORMATION
The information presented in Appendix 61 - 610 is a supplementary financial information of PT Bank Mandiri Persero Tbk., the Parent Entity only, which presents the Bank’s investments in Subsidiaries
under the cost method.
