PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
122
50. SEGMENT INFORMATION continued
Primary Segment Information for the years ended December 31, 2004
‘Syariah’ Banking Banking Securities Others Elimination Consolidated
Operating income 22,243,815
695,387 250,533
70,679 -
23,260,414 Inter-segment operating income
189,123 -
5,282 -
194,405 -
Operating income including inter- segment
operating income
22,432,938 695,387
255,815 70,679
194,405 23,260,414 Operating expenses
14,951,923 554,745
163,462 69,685
- 15,739,815
Inter-segment operating expense 5,282
- -
- 5,282
- Operating income including inter-
segment operating
expenses 14,957,205
554,745 163,462
69,685 5,282 15,739,815
Profit from operations 7,475,733
140,642 92,353
994 189,123
7,520,599 Net profit
5,255,561 103,447
62,988 22,758
189,123 5,255,631
Total assets 240,436,505
6,869,949 1,435,684
1,892,203 2,478,514
248,155,827 Total assets as a percentage
of total consolidated assets prior to elimination
95.93 2.74
0.57 0.76
Secondary Segment Information for the years ended December 31, 2004
Indonesia Domestic Asia Europe
Others Elimination
Consolidated Operating income
22,833,298 241,968
94,207 90,941
- 23,260,414
Inter-segment operating Income 194,405
- -
- 194,405
- Operating income including inter-
segment operating
income 23,027,703
241,968 94,207
90,941 194,405 23,260,414
Operating expenses 14,905,210
104,849 80,601
649,155 -
15,739,815 Inter-segment operating expenses
5,282 -
- -
5,282 -
Operating income including inter- segment
operating expense
14,910,492 104,849
80,601 649,155
5,282 15,739,815 Profit from operations
8,117,211 137,119
13,606 558,214
189,123 7,520,599
Net profit 5,226,014
107,449 13,448
97,843 189,123
5,255,631 Total assets
236,144,152 2,933,885
1,617,573 9,938,731
2,478,514 248,155,827
Total assets as a percentage of total consolidated
assets prior to elimination 94.22
1.17 0.64
3.97
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
123
51. CAPITAL ADEQUACY RATIO
The 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 core Tier I capital and supplementary capital Tier
II less investments in subsidiaries. To calculate the market risk exposure, the Bank could include the supplementary capital Tier III. Supplementary capital for taking account of market risk Tier III is short-term
subordinated loans which meet the criteria as capital components. The CAR of Bank Mandiri Bank Mandiri only as of December 31, 2005 and 2004 was 23.65 and 25.28 for CAR with credit risk, and 23.21 and
24.48 for CAR with credit risk and market risk, respectively and calculated as follows:
2005 2004
Capital: Tier I
20,858,866 20,283,275
Tier II
8,591,425 9,189,588
Total Tier I and Tier II 29,450,291
29,472,863 Less: Investments in subsidiaries
2,036,344 1,936,018
Total capital for credit risk 27,413,947 27,536, 845
Tier III -
-
____________________ _________________
Total capital for credit risk and market risk 27,413,947 27,536, 845
Credit RWA
115,908,987 108,934,763 Market
RWA 2,204,133
3,554,156 Total
Risk-Weighted Assets
118,113,120 112,488,919 CAR for credit risk
23.65 25.28
CAR for credit risk and market risk 23.21
24.48 Minimum
CAR 8
8 Excludes the impact of deferred tax assets of Rp127,845 and Rp88,070 as of December 31, 2005 and 2004, and unrealized losses
on available for sale securities and Government Recapitalization Bonds of Rp345,658 and Rp404,001 as of December 31, 2005 and 2004, respectively.
52. NET OPEN POSITION Net Open Position calculation as of December 31, 2005 was based on Bank Indonesia’s Regulation No.
737PBI2005 dated September 30, 2005. Based on the related regulation, banks are required to maintain aggregate and balance sheet net open position of a maximum of 20 of total capital. In accordance with
Bank Indonesia guidelines, the aggregate net open position ratio is the sum of the absolute values of the net difference between assets and liabilities denominated in each foreign currency plus the net difference of
receivables and payables of both commitments and contingencies recorded in the administrative accounts denominated in each foreign currency, which are stated in Rupiah. The Net Open Position for balance
sheets is the net difference between total assets and total liabilities in the balance sheets denominated in each foreign currency which are stated in Rupiah.
Net Open Position calculation as of December 31, 2004 is based on Bank Indonesia’s Regulation No. 513PBI2003 dated July 17, 2003. Based on the related decision letter, banks are required to maintain
aggregate net open position of a maximum of 20 of the total capital.
