PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5120 37. SUBORDINATED LOANS
continued
Two-Step Loans TSL continued
c Asian Development Bank ADB continued The Minister of Finance through its letter No. S-596MK.62004 dated 12 July 2004, has approved
the transfer of management of Micro Credit Project PKM of ADB loans No. 1327 - INO SF from Bank Indonesia to Bank Mandiri. With that approval, an amendment was made on the channeling
loan agreement No. SLA-805DP31995 dated 27 April 1995, which was revised by amendment No. AMA-287SLA-805DP32003 dated 22 April 2003, between the Republic of Indonesia and
Bank Indonesia to the Republic of Indonesia and PT Bank Mandiri Persero Tbk., with amendment No. AMA-298SLA-805DP32004 dated 16 July 2004.
The ADB loans for Micro Credit Projects was granted in SDR Special Drawing Rights currency in amount of SDR15,872,600.44 full amount which required Bank Mandiri to repay in SDR
currency to the Government in 50 fifty prorate semi-annual installments every 15 January and 15 July, with the first installment paid on 15 January 2005 and will ended on 15 July 2029. The
ADB loans are subject to a service charge of 1.50 per annum which is charged on every 15 January and 15 July every year starting from its drawdown.
Bank Indonesia
This account represents loans arising from the conversion of Bank Indones ia’s Credit Liquidity which
was used to enhance the capital structure of PT Bank Dagang Negara BDN and PT Bank Pembangunan Indonesia Persero Bapindo. BDN and Bapindo were the ex-legacy of the Bank.
The details of this facility as at 31 December 2013 and 2012, are as follow:
Bank Tenor
2013 2012
Interest Rate
PT Bank Mandiri Persero Tbk.
30 November 2004 - 31 March 2014 with 1
st
installment on 30 November 2004
687,153 1,374,306
0.20 per annum
687,153 1,374,306
Bank Indonesia agreed to restructure the subordinated loans of BDN amounting to Rp736,859 and from Bapindo previously recorded as Loan Capital amounting to Rp1,755,000 as stated in Bank
Indonesia letter No. 6360BKr dated 23 November 2004 regarding the Restructuring of Subordinated Loans. Under the restructuring, the subordinated loans of both ex-legacies are combined into the
amount of Rp2,491,859, with a repayment period of 10 ten years from 2004 to 2014. The restructured loan bears an interest rate of 0.20 per annum which is calculated based on the
remaining principal loan balance. The restructuring of the subordinated loans was legalised in the notarial deed of Restructuring Agreement of Subordinated Loan No. 4 dated 7 December 2004 by
Notary Ratih Gondokusumo Siswono, S.H. in Jakarta.
Based on Bank Indonesia letter No. 14327DKBU dated 19 December 2012 regarding the Restructuring of Subordinated Loans, Bank Indonesia agreed to restructure the subordinated loans by
changing the composition of principal amount installment over the remaining period and required additional collateral pledged in form of Government Bonds VR0029 series amounting to Rp2,061,459
without preference rights Note 8c. The restructuring of the subordinated loans was legalised in the notarial deed No. 15 regarding the Addendum of the Restructuring of Subordinated Loans Agreement
and notarial deed No. 16 regarding the submission of Collateral, which both dated on 19 December 2012 by Notary Mutiara Siswono Patiendra, S.H. in Jakarta.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5121 37. SUBORDINATED LOANS
continued
Subordinated Bond Rupiah Bank Mandiri I 2009
In order to strengthen the capital structure and support the loan expansion, on 14 December 2009, Bank Mandiri has issued Subordinated Bond Rupiah Bank Mandiri I 2009 Subordinated Bond
amounting to Rp3,500,000. The proceeds from the issuance of Subordinated Bond is treated as lower tier 2 capital in accordance with regulation of Bank Indonesia. As at 31 December 2013, the
unamortised issuance cost of Subordinated Bond is amounting to Rp10,571 2012: Rp13,321.
The Subordinated Bond has obtained an approval from Bank Indonesia through the letter No. 11IIIDPB1TPB1-1 dated 14 December 2009 and became effective through the letter of
Chairman of the Financial Service Authority OJK formerly Capital Market Financial Institutions Supervisory Agency Bapepam and LK, No. S-10414BL2009 dated 3 December 2009.
Bank Mandiri had listed the Subordinated Bond at the Indonesia Stock Exchange BEI on 14 December 2009, based on announcement from BEI on 11 December 2009. The Subordinated
Bond has tenor of 7 seven years and will mature on 11 December 2016, issued as scripless trading with a fixed coupon rate of 11.85 per annum. The trustee for the Subordinated Bond issued is
PT Bank Permata Tbk.
The interest on the Subordinated Bond are payable quarterly, with the first interest payment date on 11 March 2010 and the last payment date including the maturity date of the Subordinated Bond on
11 December 2016. The Bank has paid the interest of Subordinated Bond in accordance to the interest payment schedule.
There was no breach to the covenant of trusteeship agreement of Subordinated Bond for the period 1 January 2013 to 31 December 2013.
As at 31 December 2013 and 2012, the rating of the Subordinated Bond based on Pefindo was
id
AA+ double A Plus.
38. TEMPORARY SYIRKAH FUNDS
Temporary Syirkah funds consists of: a. Deposits from Customers
1 Demand Deposits
2013 2012
Rupiah Third parties
Demand deposits - Mudharabah Musytarakah 14,263
2,212 Demand deposits - restricted investment
3,612 271
Total Rupiah 17,875
2,483 Foreign currency
Third parties Demand deposits - Mudharabah Musytarakah
- 675
Total foreign currency -
675
17,875 3,158
The demand deposits - restricted investment are deposit from third parties which will receive return from Subsidiary’s restricted investment based on the agreed share nisbah of the
Subsidiary’s revenue.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5122 38. TEMPORARY SYIRKAH FUNDS continued
Temporary Syirkah funds consists of: continued a. Deposits from Customers continued
2 Saving Deposits a. Based on type:
2013 2012
Related parties Note 55 Mudharahah saving deposits - unrestricted investment
Institution Mudharahah saving deposits 76,586
17,820 BSM saving deposits
16,177 9,866
Investa Cendekia saving deposits 1,217
1,246 Berencana BSM saving deposits
778 1,031
Mabrur saving deposits 75
142 94,833
30,105 Third parties
Saving deposits - restricted investment 689,174
720,451 Mudharahah saving deposits - unrestricted investment
BSM saving deposits 16,293,842
14,421,195 Mabrur saving deposits
2,939,918 2,674,293
Investa Cendekia saving deposits 290,818
245,105 Berencana BSM saving deposits
156,646 146,550
Retirement saving deposits 27,493
8,235 Qurban saving deposits
549 489
Al Washilyah Mandiri saving deposits 4
30 20,398,444
18,216,348 20,493,277
18,246,453
The saving deposits - restricted investment represent deposit from third parties which will receive return from Subsidiary’s restricted investment based on the agreed share nisbah
of the Subsidiary’s revenue.
The Mudharabah saving deposits - unrestricted investment represent third parties’ deposits
which will receive return from Subsidiary’s investment based on the agreed share nisbah of the Subsidiary’s revenue.
b. Ranging of the Annual Profit Sharing Ratio for Mudharabah Saving Deposits - unrestricted investment:
2013 2012
Profit sharing ratio 0.23 - 5.64
0.23 - 7.17
3 Mudharabah Time Deposit - Unrestricted Investment
2013 2012
Rupiah Related parties Note 55
930,768 1,948,288
Third parties 23,430,232
18,630,912
Total Rupiah
24,361,000 20,579,200
Foreign currency Related parties Note 55
445 124
Third parties 2,472,808
1,247,320 Total foreign currencies
2,473,253 1,247,444
26,834,253 21,826,644
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5123 38. TEMPORARY SYIRKAH FUNDS continued
b. Deposits from Other Banks
2013 2012
Third parties Mudharabah saving deposits - unrestricted investment
144,876 181,054
Mudharabah time deposits - unrestricted investment 83,397
122,765 228,273
303,819
c. Other significant information related to the time deposits for deposits from customers and deposits from other banks.
1 By contract period:
2013 2012
Rupiah: 1 month
15,584,006 9,603,663
3 months 3,764,378
7,357,607 6 months
1,895,872 1,861,073
12 months 3,200,141
1,879,622 Total Rupiah
24,444,397 20,701,965
Foreign currency: 1 month
1,697,126 922,050
3 months 297,369
271,829 6 months
398,047 16,870
12 months 80,711
36,695 Total foreign currencies
2,473,253 1,247,444
26,917,650 21,949,409
2 By remaining period until maturity dates:
2013 2012
Rupiah: Less than 1 month
16,875,441 12,227,135
1 - 3 months 2,772,305
2,030,792 3 - 6 months
2,981,251 5,918,354
6 - 12 months 1,815,400
525,684 Total Rupiah
24,444,397 20,701,965
Foreign currency: Less than 1 month
2,448,867 959,493
1 - 3 months 12,080
215,710 3 - 6 months
10,317 45,215
6 - 12 months 1,989
27,026 Total foreign currencies
2,473,253 1,247,444
26,917,650 21,949,409
Mudharabah time deposits represent third parties’ deposits which received a profit sharing
return fro m the Subsidiary’s income over utilisation of its fund based on an agreed profit
sharing ratio arranged in Mudharabah Muthlaqah agreement. 3 Ranging of the Annual Profit Sharing Ratio for Mudharabah Time Deposits:
2013 2012
Rupiah 4.06 - 6.51
4.69 - 6.80 Foreign currency
1.17 - 1.74 1.36 - 1.81
4 Mudharabah time deposits with Mudharabah Muthlaqah agreement that is pledged as collateral for receivables and financing is amounting to Rp926,464 and Rp769,144 as at
31 December 2013 and 2012, respectively.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5124 39. NON CONTROLLING INTEREST IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES
This account represents non controlling interests in net assets of consolidated Subsidiaries as follow:
2013 2012
AXA Mandiri Financial Services 941,561
785,967 Mandiri Tunas Finance
337,047 259,193
Mandiri AXA General Insurance 80,180
89,149 Bank Sinar Harapan Bali
12,475 31,090
Bumi Daya Plaza -
8,696 Usaha Gedung Mandiri
- 1,295
Mandiri Sekuritas 96
79
1,371,359 1,175,469
Bank sold its share ownership in these 2 entities on 19 December 2013 refer to Note 1g and 40b.
40. SHARE CAPITAL
a. Authorised, Issued and Fully Paid Capital
The Bank’s authorised, issued and fully paid capital as at 31 December 2013 and 2012, respectively, were as follows:
2013 and 2012
Number of Nominal Value
Per Share Share Value
Percentage Of
Shares full amount
full amount Ownership
Authorised Capital
- Dwiwarna Share Series A 1
500 500
0.00 - Common Shares Series B
31,999,999,999 500 15,999,999,999,500
100.00
Total Authorised Capital 32,000,000,000
16,000,000,000,000 100.00
Issued and Fully Paid Capital
Republic of Indonesia - Dwiwarna Share Series A
1 500
500 0.00
- Common Shares Series B 13,999,999,999
500 6,999,999,999,500 60.00
Public less than 5 each - Common Shares Series B
9,333,333,333 500 4,666,666,666,500
40.00
Total Issued and Fully Paid Capital
23,333,333,333 11,666,666,666,500
100.00
Based on notarial deed No. 10 of Notary Sutjipto, S.H., dated 2 October 1998, the authorised capital of Bank Mandiri is amounted to Rp16,000,000 with a nominal value of Rp1,000,000 full
amount per share.
The determination of issued and fully paid capital amounted to Rp4,000,000 by the Government of the Republic of Indonesia at the date of establishment of Bank Mandiri was carried out as
follows:
