PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
106
31. SUBORDINATED LOANS continued
Bank Indonesia continued
Bank Term of
Loan June 30, 2004
Amount Rupiah
June 30,
2003 Amount
Rupiah April 30, 2003
Amount Rupiah
Interest Rate
PT Bank Syariah
Mandiri Note 60f
January 31, 1994 - January
31, 2014 with payment
at maturity date
32,000 32,000
32,000 Calculated quarterly, as
follows: • the first 5 years at 1
per annum • the second 5 years at
3 per annum • the third 5 years at 6
per annum • the fourth 5 years at
14 per annum
768,859 1,254,859
1,416,859
Investment Fund Account RDI ex-Two-Step Loans This account represents a credit facility from the Government of the Republic of Indonesia originating
from the installment payments of Two-Step Loans. In relation to restructuring of former Bapindo’s a legacy bank capital, on October 26, 1995, and former Bapindo facilities obtained from the
Government of the Republic of Indonesia. One of the facilities is that Bapindo can convert certain Two- Step Loans into an Investment Fund Account when the Two-Step Loan matures. The amount
withdrawn was limited to Rp991,000. The facility should be repaid during the period of April 15, 2002 to October 15, 2004. The Bank can convert the above Two-Step Loan in full or in partial amount as long
as it is related to the above eligible Two-Step Loan and it does not exceed the limit.
June 30, 2004 June 30, 2003
April 30, 2003
a RDI Loan ex-Export -Import Bank of Japan EBJ
48,121 144,362
144,362 b
RDI Loan ex-International Bank for Reconstruction dan Development IBRD
38,818 116,456
116,456 c
RDI Loan ex-Asian Development Bank ADB 36,943
110,829 110,829
d RDI Loan ex-ASEAN Japan Development Fund -
Overseas Economic Cooperation Fund
AJDF-OECF 4
11 11
e RDI Loan ex-Nordic Investment Bank NIB
14,740 44,220
44,220 138,626
415,878 415,878
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
107
31. SUBORDINATED LOANS continued
a RDI Loan ex-Export-Import Bank of Japan EBJ The EBJ I and EBJ II facilities are charged with administration fees based on the weighted
average interest rate for debtor deposits of the participating state banks determined by Bank Indonesia every six months, less 1 per annum.
The EBJ III, EBJ IV and EBJ V facilities are charged with administration fees based on a floating interest rate determined every six months based on the prevailing average interest rate for the
past six months for three-month certificates of Bank Indonesia, which should:
• Not be higher than the six months’ average interest rate for three-month time deposits in five state-owned banks and not be lower than the interest rate that Exim Bank of Japan to charges
the Government of the Republic of Indonesia plus 4 per annum for the EBJ III facility. • Not be higher than the six months’ average interest rate for three-month time deposits in five
state-owned banks for the EBJ IV facility. • Be the lower of the interest rate for the past six months of three-month Certificates of Bank
Indonesia and the six months’ average interest rate for time deposits in five state-owned banks for the EBJ V facility.
b RDI Loan ex-International Bank for Reconstruction and Development Bank IBRD The AFP facility is charged with an administration fee based on a variable interest rate determined
every six months based on the lower of the: • Average interest rate for the past six months of three-month certificates of Bank Indonesia.
• Average interest rate for the past six months of three-month time deposits in five state-owned banks.
The administration fee for the AFP facility should not be lower than the interest rate on loans charged by IBRD to the Government of the Republic of Indonesia plus 2 per annum.
The IRP and SMIEP facilities are charged with an administration fee based on the higher of the interest rate on:
• The interest rate on credits charged by the IBRD to the Government plus 1.75 per annum. • Weighted average interest rate on time deposits of participant banks.
The Bapindo V Project facility is charged with an administration fee based on the interest rate charged by the IBRD to the Government of the Republic of Indonesia, subject to a maximum of
11 per annum.
c RDI Loan ex-Asian Development Bank ADB The Second Bapindo Project SBP is charged with an administration fee of 1.75 per annum
above the interest rate charged by the ADB to the Government of the Republic of Indonesia or interest charged on loans to customers less 5 per annum, whichever is higher.
The Development Finance Loan Project DFLP facility is charged with a variable administration fee determined by Bank Indonesia every six months based on the weighted average interest rate
on customer deposits in a Foreign Exchange Bank and should not be lower than the interest rate of the ADB plus 1.75 per annum.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
108
31. SUBORDINATED LOANS continued
