PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5168 56. RISK MANAGEMENT continued
Market Risk and Liquidity Risk continued
e. Foreign Exchange Risk Management continued
The table below summaries the Group’s exposure to foreign currency exchange rate risk at 31 December 2010. Included in the table are the Group’s financial instruments at carrying amount,
categorised by currency.
31 December 2010 United
States
Dollar Euro
Singapore Dollar
Yen Australian
Dollar Hong Kong
Dollar Pound
Sterling Others
Total ASSETS
Cash 419,798
84,962 68,581
56,702 117,785
104 3,574
28,522 780,028
Current accounts with Bank Indonesia
591,403 -
- -
- -
- -
591,403 Current accounts with other banks
7,567,225 359,746
106,914 83,920
55,890 11,372
40,491 52,883
8,278,441 Placement with Bank Indonesia
and other banks 10,659,399
610,696 -
- -
- -
15,341 11,285,436
Marketable Securities 1,465,138
54,699 150,989
9,141 -
9,306 -
- 1,689,273
Government Bonds 171,045
- -
- -
- -
- 171,045
Other receivables - trade transactions 1,511,461
5,429 -
321 -
- -
- 1,517,211
Derivatives receivable 34,208
1,119 -
- 1
- 646
- 35,974
Loans 39,747,428
105,854 337,907
11,260 -
65,618 121,962
- 40,390,029
Acceptances receivable 3,563,762
93,204 40,808
37,454 -
- -
1,331 3,736,559
Investments in shares -
- 1,244
- -
- -
- 1,244
Policyholders investment in unit-linked contracts
21,917 -
- -
- -
- -
21,917 Other assets
- Accrued income 72,193
37 513
183 -
- -
- 72,926
- Receivable from customer transactions
7,147 -
- -
- -
- -
7,147
Total Assets 65,832,124
1,315,746 706,956
198,981 173,676
86,400 166,673
98,077 68,578,633
LIABILITIES AND SYIRKAH TEMPORER FUND
Deposits from Customers Conventional Banking and Sharia -
Non Syirkah Temporer Fund Demand deposits
20,963,198 736,053
214,084 69,878
39,138 9,359
48,495 4,518
22,084,723 Saving deposits
11,484,756 -
155,226 6,504
- -
- -
11,646,486 Time deposits
11,776,002 95,966
98,115 114
48,103 28,571
11,269 -
12,058,140 Sharia Banking – Syirkah
Temporer Fund Restricted investment demand
deposit and mudharabah musytarakah demand deposit
83,690 -
- -
- -
- -
83,690 Unrestricted investment
mudharabah time deposit 409,879
- -
- -
- -
- 409,879
Deposits from other banks Conventional Banking and Sharia -
Non Syirkah Temporer Fund Demand deposits
882,996 19
3,623 -
- -
- -
886,638 Time deposits
339,677 -
- -
- -
- -
339,677 Derivative payable
4,319 1,050
467 339
440 -
- 367
6,982 Liability to unit-linked holders
21,917 -
- -
- -
- -
21,917 Acceptances payable
3,563,762 93,204
40,808 37,454
- -
- 1,331
3,736,559 Fund Borrowings
4,402,405 -
- -
- -
- -
4,402,405 Accrued Expenses
61,813 4
84 -
50 28
54 -
62,033 Other liabilities
- Payable from purchase of marketable securities
- -
- -
- -
- -
- Subordinated Loans
178,870 -
- -
- -
- -
178,870
Total liabilities and Syirkah temporer fund
54,173,284 926,296
512,407 114,289
87,731 37,958
59,818 6,216
55,917,999 Net on balance sheets
financial position 11,658,840
389,450 194,549
84,692 85,945
48,442 106,855
91,861 12,660,634
Administrative accounts - net 4,702,293
51,798 57,385
49,378 81,700
- 5,925
13,042 4,846,751
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5169 56. RISK MANAGEMENT continued
Market Risk and Liquidity Risk continued
f. Fair value of financial assets and liabilities
As at 31 December 2010, the carrying value of the Bank’s financial assets and liabilities approximates their fair value except for the following financial instruments:
31 December 2010 Carrying
Value Fair value
Assets Marketable securities
Held to maturity 3,947,624
3,9 71,085 Government Bonds
Held to maturity 23,428,863
23,481,901 Loans
232,545,259 231,844,081
Consumer financing receivable 2,132,823
2,198,572 262,054,569
261,495,639 Liabilities
Marketable securities issued 1,491,367
1,487,319 Fund borrowings
5,634,838 5,636,235
Subordinated loans 6,056,572
6,063,961 13,182,777
13,187,515
i Current accounts with Bank Indonesia, current accounts with other banks, placement with
Bank Indonesia and other banks, other receivables, securities purchased under resale agreements, acceptance receivables and other assets.
Placements with Bank Indonesia and other banks represent placements in the form of Bank Indonesia deposit facility FASBI, sharia FASBI, call money, “fixed-term” placements, time
deposits and others.
The carrying amount of floating rate current accounts, placements and overnight deposits is a reasonable approximation of fair value.
The estimated fair value of fixed interest bearing placements, other receivables, securities purchased under resale agreements, acceptance receivables and other assets is based on
discounted cash flows using prevailing money market interest rates for debts with similar credit risk and remaining maturity. Since the remaining maturity is under one year, the
carrying amount of fixed interest bearing placements, other receivables, securities purchased under resale agreements, acceptance receivables and other assets is a reasonable
approximation of fair value.
ii Marketable securities held to maturity and Government Bonds held to maturity
The fair value for held to maturity marketable securities and Government Bonds are based on market prices or brokerdealer price quotations. Where this information is not available, fair
value is estimated using quoted market prices for securities with similar credit, maturity and yield characteristics or using internal valuation model.