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
-
75
-
26. FUND BORROWINGS Continued
a Bank Indonesia
This account represents credit facilities obtained from Bank Indonesia which are re-loaned to Bank Mandiri customers. These facilities are subject to interest at rates ranging from 3 to
10 per annum. The details of this account are as follows:
2002 2001
Rupiah: Investment Loans KI
510,814 802,569
Small-Scale Working Capital Loans KUK - KKPA
530,445 496,811
Small-Scale Investment
Loans KIK 423,031
474,276 Working Capital Loans KMK
50 68
1,464,340 1,773,724
Fund borrowings from Bank Indonesia will mature on various dates, the latest being in 2017. b Bank Ekspor Indonesia
This account represents credit facilities for export working capital obtained from Bank Ekspor Indonesia based on the facility agreement No. 064PPF122000 dated December 12, 2000
between PT Bank Ekspor Indonesia Persero and Bank Mandiri. The agreement is for the period from December 20, 2000 until December 19, 2001, and was extended to December 19,
2003. The facilities were re-loaned to Bank Mandiri customers and bear interest at market rates.
c Exchange Offer
Loans In accordance with the Government’s debt restructuring program for banks, Bank Mandiri
exchanged certain non-Rupiah denominated obligations obtained from foreign banks for new borrowings with extended maturities, and guaranteed by Bank Indonesia pursuant to the
exchange offer memorandum in the Master Loan Agreement as follows:
2002 2001
US Rp
US Rp
in full amount Equivalent
in full amount Equivalent
Exchange Offer Loan I -
- 54,492,165
566,806 Exchange Offer Loan II 928,290,000
8,308,195 1,045,154,863
10,870,419 928,290,000
8,308,195 1,099,647,028
11,437,225
Exchange Offer Loan I with original maturities before April 1, 1999 was due and fully repaid in 2002. Exchange Offer Loan II with original maturities before January 1, 2002 will mature in
four 4 tranches every June 1 from 2002 to 2005. These borrowings bear interest calculated every six months equal to six months’ LIBOR for the period plus an applicable margin
determined for each maturity period.
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
-
76
-
26. FUND BORROWINGS Continued
d Others - Foreign currency
2002 2001
Direct off-shore loans 268,500
1,412,575 Others
10,776 581,294
279,276 1,993,869
27. ALLOWANCE FOR POSSIBLE LOSSES ON COMMITMENTS AND CONTINGENCIES
a. Commitment and contingent transactions in the normal course of Bank Mandiri activities that have credit risk are as follows:
2002 2001
___________
Rupiah: Outstanding irrevocable letters of credit Notes 46
895,933 185,269
Bank guarantees issued Notes 46 and 48 2,227,633
1,693,760 Standby letters of credit Notes 46 and 48
30,000 30,000
___________
3,153,566 1,909,029
Foreign currency: Outstanding irrevocable letters of credit Notes 46
5,475,295 5,358,803
Bank guarantees issued Notes 46 and 48 2,658,783
2,902,977 Standby letters of credit Notes 46 and 48
3,205,189 3,780,309
Commitment and contingent payables to a foreign branch of a local bank Note 46
- 2,908,049
___________
11,339,267 14,950,138
___________
14,492,833 16,859,167
b. By Collectibility:
2002 2001
Current 13,671,409 11,918,846
Special mention 780,360
796,851 Sub-standard
1,064 1,168,710
Doubtful 10,000
- Loss
30,000 2,974,760
Total 14,492,833
16,859,167 Less: Allowance for possible losses
1,211,211 5,284,345
Net commitmentsand contingencies 13,281,622
11,574,822
