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
154
54. SEGMENT INFORMATION continued
Secondary Segment Information as of and for the Year Ended December 31, 2002
Indonesia Domestic
Asia Europe
Other Elimination Consolidated
Operating income 34,263,791 169,682
85,590 992,230 - 35,511,293
Inter-segment operating Income 3,001
- -
- 3,001
- Operating income including
inter-segment operating income 34,266,792 169,682
85,590 992,230 3,001 35,511,293
Operating expenses 30,042,815 85,746 67,927 742,384
- 30,938,872
Inter-segment operating expenses 3,001 - - -
3,001 - Operating expenses including
Inter-segment operating expenses 30,045,816 85,746 67,927 742,384 3,001
30,938,872 Profit from Operations
4,220,976 83,936 17,663 249,846 - 4,572,421
Net Profit 3,296,788
71,059 29,278 249,410 61,395 3,585,589
Total Assets 234,915,482
4,251,687 1,088,038 12,284,796 2,146,313 250,394,689
Total assets as a percentage of total consolidated assets
prior to elimination 92.96
1.70 0.43
4,91
55. CUSTODIAL AND TRUST OPERATIONS
Custodial Operations Bank Mandiri has rendered custodial services starting in 1959 legacy banks: BDN, Bank Exim, BBD
and Bapindo. As a result of the merger, the operating license for custodial services was renewed and re-issued based on Bapepam Decision Letter No. KEP.01PMKstd1999 dated October 4, 1999. The
Custodial Services Business CSB, which is part of the Securities Services Department SSD of Bank Mandiri, provides a full range of custodial services such as:
a. Settlement and handling services for scrip and scripless trading transactions. b. Registration of securities with Biro Administrasi Efek, and splitting and merging of securities.
c. Safekeeping of securities and other valuable assets. d. Corporate action services related to the rights on the securities.
e. Proxy services for its customers’ shareholders’ meetings and obligation holders’ meetings. f. International services i.e. American Depository Receipts ADRs and Global Depository Receipts
GDRs, which are required by entities listed on the domestic and overseas exchanges dual listing.
g. Sub-registry services for settlement of transactions of Indonesian recapitalization bonds
“Government Recapitalization Bonds” as well as SBIs. h. Escrow Agent.
i. As sub-custody agent for euroclear transactions. Bank Mandiri has 266, 269 and 238 custodial customers as of December 31, 2003, April 30, 2003
and December 31, 2002, respectively. The customers are primarily pension funds, insurance companies, banks, securities and other private companies.
Total custodial fees and commissions earned for the eight-month period ended December 31, 2003, four-month period ended April 30, 2003 and year ended December 31, 2002 are Rp6,773, Rp2,157
and Rp6,411, respectively.
Bank Mandiri carries insurance on custodial services against safekeeping and transit loss under blanket policies amounting to approximately Rp175,000,000,000 full amount. Management is of the
opinion that the insurance coverage is adequate to cover possible losses from safekeeping and transit risks.
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
155
55. CUSTODIAL AND TRUST OPERATIONS continued
Trust Operations Bank Mandiri has been rendering trustee services starting in 1983 legacy banks: Bank Exim, BDN,
BBD and Bapindo. The operating license for trustee services was renewed and re-registered with Bapepam as stipulated in No. 17STTD-WAPM1999 dated October 27, 1999. The Trustee Services
Business TSB, which is part of the Securities Services Department SSD of Bank Mandiri, provides a full range of the following services:
a. Preparing documentation support to bond issuers in complying with required documents for
issuance. b. Signing trustee agreements and other relevant documents together with bond issuers and other
related institutions. c. Monitoring performance of issuers and compliance against required documentation as stipulated
in trustee agreements on behalf of bondholders. d. Facilitating bondholder meetings.
e. Following up and executing the results of bondholder meetings, as required. f.
Providing information on issuers’ performance as requested by BAPEPAM or bondholders. g. Managing the sinking fund and other collateral as required by a bond’s issuance and terms and
conditions. h. Paying agent for dividends and selected coupon payments.
i. Escrow agent and security agent.
Bank Mandiri has 27, 22 and 24 trustee customers as of December 31, 2003, April 30, 2003 and December 31, 2002, respectively. As of December 31, 2003, April 30, 2003 and December 31, 2002
the total value of bonds issued amounted to Rp10,833,407, Rp5,102,750 and Rp5,116,300, respectively, while the sinking funds managed on behalf of bond issuers amounted to Rp69,025,
Rp91,885 and Rp91,480, respectively.
Fees earned from trust operations, paying agent, escrow agent and security agent activities amounted to Rp5,505, Rp1,551 and Rp3,367 for the eight-month period ended December 31, 2003,
the four-month period ended April 30, 2003 and the year ended December 31, 2002, respectively. The Bank’s trust operations and custodial services have obtained ISO 9001-2000 quality standard
service certification.
