Plan and Strategy In accordance with bank bjb management policy for 2017,

annual report 2016 211 Growing Together with new expanding opportunities Data Penempatan dana Pada bank Lain dalam bentuk surat berharga Obligasi non Bank investasi selama 3tiga tahun terakhir Tabel Penempatan dana Pada bank lain dalam bentuk surat berharga Obligasi non bank investasi selama 3tiga tahun terakhir Table of fund Placements in Other banks in the form of non-bank investment bonds for the last 3 three years dalam Rupiah penuh | in full Rupiah TaHUn Year ObliGasi ObliGaTiOn nOminal face ValUe 2014 Koorporasi | Corporate 160.000.000.000,00 Sun 105.000.000.000,00 orI 325.093.000.000,00 Spn 33.575.000.000,00 Sr 370.530.000.000,00 TOTal 994.198.000.000,00 2015 Koorporasi | Corporate 1.755.200.000.000,00 Sun 2.377.432.000.000,00 orI 570.378.000.000,00 pBS 580.789.000.000,00 Spn 50.000.000.000,00 Sr 757.530.000.000,00 TOTal 6.091.329.000.000,00 2016 Koorporasi | Corporate 1.136.200.000.000,00 Sun 2.512.432.000.000,00 orI 310.000.000.000,00 pBS 480.789.000.000,00 Sr 610.000.000.000,00 TOTal 5.049.421.000.000,00 Trading Money Market Pengelolaan dan optimalisasi ekses likuiditas melalui transaksi pasar uang money market serta dari aktivitas gapping Divisi Trisuri memberikan kontribusi bagi pendapatan bunga bagi bank bjb. Aktivitas money market yang dilakukan bank bjb antara lain melalui penempatan antar Bank, penempatan pada instrumen moneter Bank Indonesia maupun aktivitas transaksi Repo dan Reverse Repo. Dalam rangka mendukung program Bank Indonesia untuk pendalaman pasar keuangan, bank bjb aktif memperluas kerjasama transaksi Repo dan Reverse Repo melalui perjanjian GMRA antar bank. Tahun 2016 bank bjb telah menandatangani kerjasama perjanjian GMRA dengan 10 bank umum dan 20 Bank Pembangunan Daerah. Peran aktif bank bjb dalam aktivitas transaksi pasar uang juga ditunjukkan dengan keikutsertaan bank bjb menjadi salah satu bank kontributor JIBOR yang ditunjuk oleh Bank Indonesia sejak tahun 2014 hingga tahun 2016. dimana kontributor JIBOR berkewajiban memberikan kuotasi suku bunga penawaran antar bank yang mencerminkan kondisi pasar keuangan saat ini. TINJAUAN OPERASIONAL oPeRaTional RevieW Data of Investment of Fund in Other Banks in the form of Non- Bank Securities and Investments in the last 3three years Trading in money market The management and optimization of excess of liquidity through money market transactions and gapping from Treasury Division shall contribute to bank bjb interest income. Money market transactions conducted by the bank include interbank deposits, deposits on Bank Indonesia monetary instruments, as well as Repo and Reverse Repo transaction activities. In order to support Bank Indonesia program of financial market deepening, bank bjb actively expands Repo and Reverse Repo transaction cooperation via interbank GMRA agreements. In 2016, bjb bank signed GMRA cooperation agreements with 10 commercial banks and 20 regional development banks. Banks bjb active role within money market transaction is also demonstrated by its participation as one of JIBOR bank contributors appointed by Bank Indonesia from 2014 to 2016, in which JIBOR contributors were required to provide quotation of interbank interest rate offer which reflects the condition of current financial market. Laporan Tahunan 2016 212 Semakin Berkembang Bersama peluang Baru yang Membentang Volume transaksi gapping pada tahun 2016 mengalami peningkatan dengan diversifikasi instrumen penempatan pada: 1. Interbank Call Money 2. Reverse Repo Bank Indonesia 3. Reverse Repo antar bank 4. Sertifikat Bank Indonesia 5. Serifikat Deposito Bank Indonesia 6. Surat Berharga dengan tenor jangka pendek kurang dari 1satu tahun Dengan sumber dana yang berasal dari: 1. Borrowing Interbank Call Money 2. Borrowing dalam bentuk Repo Surat Berharga Kinerja Trading Money Market Tabel Kinerja Trading Money Market Table of money market Trading Performance dalam Rupiah penuh | in full Rupiah 2016 2015 2014 Placement 2,404,465,929,550.60 6,580,869,434,494.50 5,040,637,244,676.00 Borrowing 2,404,820,371,950.00 6,581,773,485,400.00 5,040,774,349,250.00 Transaksi Trading Fixed Income Posisi akhir tahun 2014 dibukukan keuntungan dari portofolio banking serta trading Fixed Income bank bjb sebesar Rp55,74 miliar, atau secara rasio mencapai 175,50 dari target tahun 2014. Pencapaian tersebut secara signifikan dipengaruhi oleh kondisi pasar modalyang bergerak pada tren positif, sehinggayield obligasi yang diharapkan investor pun meningkat. Menutup tahun 2014 31 Desember 2014, kinerja obligasi tampak positif secara year to date yang tercermin dari positive return yang dihasilkan pada ketiga kelompok obligasi maupun secara composite-nya. Obligasi pemerintah mencatatkan positive return tertinggi jika dibandingkan dengan kedua kelompok obligasi lainnya yakni sebesar +12,9 ytd. Ditutup positifnya pasar obligasi di tahun 2014 disebabkan oleh berlanjutnya euforia paska keputusan the Fed yang masih akan mempertahankan suku bunga acuannya paling cepat hingga kuartal II-2015. Dari portofolio yang dimiliki, pada akhir tahun 2014 diperoleh total coupon tahun berjalan sebesar Rp1.604.681.251,00 serta dibukukan pendapatan dari desk fixed income secara keseluruhan baik portofolio banking maupun trading mencapai 175,5 dari target tahun 2014, atau secara nominal didapat sebesar Rp298,36 miliar, sedangkan pendapatan portofolio trading book saja sebesar Rp68,06 miliar. Pengelolaan likuiditas dan optimalisasi pendapatan melalui instrumen fixed income dilakukan dengan penempatan dana TINJAUAN OPERASIONAL oPeRaTional RevieW The 2016 transaction volume gapping experienced an increase with diversification of allocation of instruments on: 1. Interbank Call Money 2. Bank Indonesia Reverse Repo 3. Interbank Reverse Repo 4. Bank Indonesia Certificates SBI 5. Bank Indonesia Certificates of Deposit 6. Securities of short-term maturities i.e. less than 1 one year Source of funding: 1. Borrowing in term of Interbank Call Money 2. Borrowing in terms of Certificate Repo Trading Money Market Performance fixed income Trading Transaction End-of-year 2014 position recorded a profit from the banking portfolio and bank bjb Fixed Income Trading was Rp55.74 billion, or by ratio achieved 175.50 from 2014 target. The achievement was significantly affected by the capital market condition moving on positive trend so that the bond yield that was expected by the investor could increase. Closing the year 2014 31 December 2014, bond’s performance looked positive on year to date as reflected from the positive return resulted on the three bond groups as well as its composite. Government bond recorded the highest positive return if compared to the two other bond group, which was of +12.9 ytd. Bond market was closed in positive in 2014, which was due to the continued euphoria post Fed decision that would still maintain its referral interest rate the earliest until quarter II of 2015. From the portfolio owned, at the end of 2014, the total coupon of that current year was Rp1,604,681,251.00 and revenue was recorded from fixed income desk as an overall both banking portfolio and trading reached 175.5 from 2014 target, or the nominal obtained was Rp298.36 billion, while portfolio revenue of trading book was only Rp68.06 billion Liquidity management and optimizing revenue through fixed income instrument was done by placing fund on marketable annual report 2016 213 Growing Together with new expanding opportunities pada surat berharga, baik obligasi pemerintah maupun obligasi korporasi di pasar perdana dan pasar sekunder serta melakukan tradingjual beli surat berharga. Total pendapatan yang diperoleh dari transaksi surat berharga sepanjang tahun 2015 mencapai Rp328,94 miliar atau 205,59 dari target tahun 2015. Sepanjang tahun 2016 kentungan yang dibukukan pada akhir tahun dari transaksi Fixed Income Trading mencapai 245,88 dari target tahun 2016. Adapun pencapaian tersebut diperoleh dari aktivitas pembelian dan penjualan surat berharga untuk portofolio diperdagangkan, termasuk reksadana. Kondisi pasar surat berharga pada tahun 2016 cenderung positif dimana suku bunga acuan BI rateBI 7 days reverse repo rate sepanjang tahun 2016 turun hingga 150 bps, sehingga yield yang diperdagangkan di pasar ikut turun dan harga untuk surat berharga pun meningkat. Koreksi terjadi menjelang akhir tahun setelah kemenangan Donald Trump atas pemilihan presiden Amerika Serikat. Investor cenderung mewaspadai kebijakan Trump yang dikhawatirkan dapat berpengaruh terhadap Emerging Market, termasuk Indonesia. rekapitulasi Obligasi Portofolio Trading 31 Desember 2016 Table of bond recapitulation of Trading Portfolio December 31, 2016 reksadana 677.030.667.836,00 Mutual Fund Sun 335.000.000.000,00 Sun orI 0,00 orI Corp 100.000.000.000,00 Corp Sr 0,00 Sr uSD 4.000.000,00 uSD 1.112.034.667.836,00 rekapitulasi Obligasi Portofolio Trading 31 Desember 2015 Table of bond recapitulation of Trading Portfolio December 31, 2015 reksadana 712,000,000,000.00 Mutual Fund Sun 348,000,000,000.00 Sun orI 10,275,000,000.00 orI Corp 30,000,000,000.00 Corp Sr 0.00 Sr 1,100,275,000,000.00 rekapitulasi Obligasi Portofolio Trading 31 Desember 2014 Table of bond recapitulation of Trading Portfolio December 31, 2014 reksadana 717,000,000,000.00 Mutual Fund Sun 0.00 Sun orI 7,485,000,000.00 orI Corp 0.00 Corp Sr 0.00 Sr 724,485,000,000.00 TINJAUAN OPERASIONAL oPeRaTional RevieW securities, both government bond and corporate bond at primary market and secondary market as well as tradingbuy and sell marketable securities. The total revenue obtained from transactions of marketable securities throughout 2015 reached Rp328.94 billion or 205.59 from 2015 target. Throughout 2016, the profit that was recorded at year end from Fixed Income Trading transaction reached 245.88 from 2016 target. The achievement was obtained from buying and selling activities of marketable securities for trading portfolio, including mutual funds. The condition of security market in 2016 tend to be positive where interest rate reference BI rate BI 7 days reverse repo rate throughout 2016 dropped until 150 bps, therefore, the yield traded in the market also dropped and security price increased. Correction occurred at year end after the victory of Donald Trump as the President of the United States. Investors tend to watch out for Trump’s policies as they are concern of the impact to the Emerging Market, including Indonesia.