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
149
51. NET OPEN POSITION
The Net Open Position NOP ratio of Bank Mandiri Bank Mandiri only is 2.85, 2.67 and 5.64 as of December 31, 2003, April 30, 2003 and December 31 2002, respectively. Based on Bank Indonesia’s
Decision Letter No. 31178KEPDIR dated December 31, 1998, banks are required to maintain a net open position of a maximum of 20 of the sum of Core Capital Tier I and Supplementary Capital Tier
II. In accordance with Bank Indonesia guidelines, the net open position ratio is the sum of the absolute values of the net difference between the assets and liabilities denominated in each foreign currency and
the net difference of the receivables and payables of both commitments and contingencies recorded in the administrative accounts denominated in each currency, which are stated in Rupiah.
The Net Open Position by currency of Bank Mandiri Bank Mandiri only as of December 31, 2003 is as follows:
Assets and Liabilities and
Administrative Administrative
Asset Accounts Liability Accounts
Net Open Position
United States Dollars 66,453,280 67,030,133
576,853 Euros 444,648
425,908 18,740
Singapore Dollars 121,430
164,209 42,779
Japanese Yen 99,790 114,213
14,423 British Pounds Sterling 33,830
35,299 1,469
Australian Dollars 24,640
30,205 5,565
New Zealand Dollars 11,546
- 11,546
Malaysian Ringgit -
32,313 32,313
Hong Kong Dollars 10,286
4,721 5,565
Others 31,249 14,501
16,748 Total net open position
620,803 Total absolute open position
762,001 Total Tier I and II capital less investments in subsidiaries Note 52
25,463,716 NOP Ratio
2.85
Including hedge bonds amounting to Rp 8,986,456 Note 8.
The Net Open Position by currency of Bank Mandiri Bank Mandiri only as of April 30, 2003 is as follows:
Assets and Liabilities and
Administrative Administrative
Asset Accounts Liability Accounts
Net Open Position
United States Dollars 68,073,824 67,911,758
162,066 Singapore Dollars
1,960,613 1,678,808 281,805
Japanese Yen 1,295,915 1,317,574
21,659 Euros 500,543
493,212 6,331
Australian Dollars 20,455
18,638 1,817
British Pounds Sterling 34,897 23,162
11,735 Malaysian Ringgit
- 32,993
32,993 Hong Kong Dollars
34,156 279
33,877 Others
23,420 10,595 12,825
Total net open position 455,804
Total absolute open position 565,108
Total Tier I and II capital less investments in subsidiaries Note 52 21,202,046
NOP Ratio 2.67
Including hedge bonds amounting to Rp14,262,027 Note 8.
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
150
51. NET OPEN POSITION continued
The Net Open Position by currency of Bank Mandiri Bank Mandiri only as of December 31, 2002 is as follows:
Assets and Liabilities and
Administrative Administrative
Asset Accounts Liability Accounts
Net Open Position
United States Dollars 70,301,868
69,668,664 633,204 Singapore Dollars
1,576,513 1,559,552 16,961
Japanese Yen 1,230,105
1,325,906 95,801 Euros 360,797
449,937 89,140
Australian Dollars 76,288
72,509 3,779
British Pounds Sterling 40,395 35,863
4,532 Malaysian Ringgit
9,709 75,469
65,760 Swiss Francs
9,699 12,082
2,383 Others 52,007 6,480 45,527
Total net open position 450,919
Total absolute open position 957,087
Total Tier I and II capital less investments in subsidiaries Note 52 16,958,163
NOP Ratio 5.64
Including hedge bonds amounting to Rp16,839,823 Note 8.
52. CAPITAL ADEQUACY RATIO
Capital Adequacy Ratio CAR is the ratio of the Bank’s capital over its Risk-Weighted Assets RWA, Under Bank Indonesia regulations, total capital includes both core Tier I capital and supplementary
Tier II capital. The CAR of Bank Mandiri Bank Mandiri only as of December 31, 2003, April 30, 2003 and December 31, 2002 is 27.72, 27.05 and 23.39, respectively, and is calculated as follows:
December 31, April 30,
December 31, 2003
2003 2002
Capital: Tier
I 17,859,230
15,942,685 11,016,295
Tier II
9,342,931 6,964,107
7,321,435 Less:
Investments in subsidiaries 1,738,445
1,704,746 1,379,567
Total capital
25,463,716 21,202,046 16,958,163
Total Risk-Weighted Assets 91,855,132
78,375,774 72,512,586
CAR 27.72
27.05 23.39
Minimum CAR
8 8
8 Excludes the impact of deferred tax assets-net of Rp586,199, RpNil and Rp2,594,688 and unrealized losses on securities and
Government Recapitalization Bonds available for sale of Rp1,866,441, Rp1,299,676 and Rp2,138,186, respectively, as of December 31, 2003, April 30, 2003 and December 31, 2002, respectively.
