PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
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51. NET OPEN POSITION
The Net Open Position “NOP” ratio of Bank Mandiri Bank only is 5.64 and 19.38 as of December 31, 2002 and 2001, respectively. The NOP ratio is defined as the total absolute amount of
each of the foreign currency open position divided by the Bank’s total Tier I and II capital in accordance with Bank Indonesia’s guidelines. The maximum NOP ratio allowed under Bank Indonesia
guidelines is 20.
The Net Open Position by currency of Bank Mandiri Bank 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 Note 52
16,958,163 NOP Ratio
5.64
Including hedge bonds amounting to Rp16,839,823 Note 8.
The Net Open Position by currency of Bank Mandiri Bank only as of December 31, 2001 is as follows:
Assets and Liabilities and
Administrative Administrative
Asset Accounts Liability Accounts
Net Open Position
United States Dollars 155,676,365
155,283,771 392,594
Singapore Dollars 2,355,156
1,565,079 790,077
Euros 1,603,465 1,608,002
4,537 Japanese Yen
1,044,413 1,679,675
635,262 British Pounds Sterling
408,008 312,932
95,076 Deutsche Marks
386,222 601,562
215,340 French Francs
113,265 89,768
23,497 Hongkong Dollars
- 560,539
560,539 Malaysian Ringgit
- 190,447
190,447 Australian Dollars
99,287 106,666
7,379 Netherland Guilders
63,878 56,383
7,495 Swiss Francs
51,355 24,681
26,674 Others 71,041
44,211 26,830
Total net open position 251,261
Total absolute open position 2,975,747
Total Tier I and II capital Note 52 15,353,693
NOP Ratio
19.38
Including hedge bonds amounting to Rp22,995,498 Note 8.
PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
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126
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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 only as of December 31, 2002 and 2001 is 23.39 and 26.44, respectively, and is calculated as follows:
2002 2001
Capital: Tier I
11,016,295 8,849,943
Tier II
7,321,435 7,256,966 Less:
Investments in subsidiaries 1,379,567
753,216 Total
capital 16,958,163 15,353,693
Total Risk-Weighted Assets 72,512,586
58,079,575 CAR
23.39 26.44
Minimum CAR 8
8
Excludes the impact of deferred tax assets of Rp2,594,688 and Rp4,817,617 and unrealized losses on securities and Government Bonds available for sale of Rp2,138,186 and Rp5,047,162, respectively, as of December 31, 2002 and 2001.
Based on Bank Indonesia regulation No. 321PBI2001 dated December 13, 2001, Bank Indonesia revised the calculation of CAR effective from the issuance date of the regulation to exclude investments in subsidiaries from the bank’s capital.
Bank Indonesia requires banks in Indonesia to have a minimum CAR of 8 effective as of December 31, 2001.
53. NON-PERFORMING EARNINGS
ASSETS RATIO AND SMALL SCALE LOANS RATIO
Non-performing earning assets to total earning assets are 2.67 and 4.71 as of December 31, 2002 and 2001, respectively. Note 12.A.e provides the Bank’s NPL ratio.
The total allowance for possible losses on earnings assets provided by Bank Mandiri compared to the minimum allowance for possible losses on earning assets under the guidelines prescribed by
Bank Indonesia, as of December 31, 2002 and 2001 are 176 and 133, respectively.
Small scale loans to total loans are 4.51 and 5.39 as of December 31, 2002 and 2001, respectively.
