Slide Q4 2011 Full Slides FINAL

(1)

PT Bank Mandiri (Persero) Tbk

FY 2011

Results Presentation

(2)

Share Information

∆ fro : IPO Dec 31, 2011

BMRI +916.57% +5.60% JCI +628.43% +3.20%

-200% 0% 200% 400% 600% 800% 1000% 1200% J u l-03 N o v -03 M a r-04 J u l-04 N o v -04 M a r-05 J u l-05 N o v -05 M a r-06 J u l-06 N o v -06 M a r-07 J u l-07 N o v -07 M a r-08 J u l-08 N o v -08 M a r-09 J u l-09 N o v -09 M a r-10 J u l-10 N o v -10 M a r-11 J u l-11 N o v -11 BMRI JCI No. Description

Per 31 December 2011

No. of Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.00% 14,000,000,000 60.00% 2. Retail 14,511 59.26% 291,026,895 1.25% 3. Employees 7,957 32.49% 124,844,318 0.54%

4. Cooperatives 2 0.01% 20,556 0.00%

5. Foundations 20 0.08% 14,651,535 0.06% 6. Pension Funds 169 0.69% 253,904,476 1.09% 7. Insurance 53 0.22% 422,059,044 1.81%

8. Banks - 0.00% - 0.00%

9. Corporations 178 0.73% 355,552,796 1.52% 11. Mutual Funds 144 0.59% 851,304,650 3.65%

Total 23,035 94.07% 16,313,364,270 69.92%

II INTERNATIONAL

1. Retail 77 0.31% 3,131,564 0.01%

2. Institutional 1,376 5.62% 7,016,837,499 30.07%

Total 1,453 5.93% 7,019,969,063 30.08% III TOTAL 24,488 100.00% 23,333,333,333 100.00%

(3)

Bank Mandiri Presentation Contents

Results Overview Page #



2011 Highlights 3-5



SBU Performance Highlights 6-7



Loan Growth & LDR 8-10



NIM, CIR, ROE 11-14



Strategy Overview 15



Wholesale Transactions 16-19



Retail Value Chain 20-24



High-Yield Lending Activities 25-30



Strategic SBU Alliances & Subsidiaries 31-32



NPL Movement 33-36



BMRI Targets 37

Operating Performance Highlights Supporting Materials

(4)

3 Bank Mandiri remains on track to become

I do esia s Most

Admired Financial Institution

Retails Loans

(1)

• Rp 81 Tn

• 29.6% of Loans

Subsidiaries Income

• Total Rp 1.6 Tn

• Sum of income of 5

subsidiaries ( 12.7 %

of EAT)

Alliances (total)

• Card From Alliances

198,896 cards

• Alliance Payroll

Accounts: 372,000

e-Channel Trx

• 971 mn in YTD

• 31% Growth

# of Cards Issued

• Credit 2.36 mn

• Debit 8.96 mn

• Prepaid 1.32 mn

Cash Management

• 10,943 Customers

• 7.7 Mn Trx YTD

2011

(2)

(1) Small Business, Micro and Consumers (2) Exclude MTS

# of Accounts

• Deposits 12.0 Mn

• Loans 1.12 Mn

# of new Accounts

• Deposit 3.64 Mn

• Loans 553,767

# of Outlets

• 1,537 Branches

• 1,941 Micro Outlets

(5)

Key Financial Highlights

Bank

Ma di i s

Full Year 2011 Performance continued to demonstrate

marked improvements in several key indicators:

De

%

Loans

Rp246.2 tn

Rp314.4 tn

27.7%

Net NPL Ratio

Gross NPL Ratio

0.62%

2.42%

0.52%

2.21%

(16.1%)

(8.7%)

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

55.8%

Rp202.0 tn

60.7%

Rp256.4tn

8.9%

27.0%

NIM

5.28%

5.11%

(3.1%)

Efficiency Ratio

42.4%

41.6%

1) 2)

_(1.8%)

Earnings After Tax

9,218 bn

12,246 bn

32.8%

1) Excluding Garuda Recovery, CER 43.3% 2) Non recurring expenses

(6)

246.2tn

82.8 88.8 93.7 97.1 97.1 102.9 108.8

121.9 119.8 126.5135.4 151.8

8.2 8.3 8.7

9.7 9.9 10.8 11.6

11.6 12.3 12.7 12.2 12.0

44.5 47.3 45.7

53.9 47.8 50.3 39.9

46.2 45.3 47.9 49.4

67.3

20.3 18.3 21.1

18.8 22.0 23.1 22.9

22.2 25.4 22.3 24.0

25.3

99.6 105.7

109.3108.4 124.4

127.8 127.0

147.8 143.5 140.8 140.0

148.1

16.7 18.7

17.1 15.1

11.8 11.7 11.1

12.5 10.3 12.4 15.3 17.8 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440

Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11

FX Time Rp Time

FX Demand Rp Demand

FX Savings Rp Savings

64.1 65.8 68.8 69.8 74.5 80.7

84.2 85.4 85.1 96.2 103.2 106.3 4.4 4.4 4.2 4.5 0.2

0.4 1.3 1.4 1.6

1.5 1.7 1.4

40.6 41.9 43.6 49.1

49.1 53.1

57.5 63.8 64.7 70.1

74.7 80.7

19.7 20.6 21.7

23.6 24.7 26.7 28.6 30.7 32.4 34.3 36.3 39.0 14.1 15.5 16.3 17.1 17.7 19.3

20.5 22.7 23.3 25.8 27.6 30.2 4.6 4.8 5.1 5.4 5.6 6.0 6.5 7.3 7.7 8.5 9.5 11.7 12.6 11.5 11.2 10.3 9.7 9.1 8.6 7.8 6.7 6.1 6.1 4.6 16.8 17.1 17.6 18.8 20.4 22.7 24.6 27.2 30.3 34.2 38.4 40.5 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 180 190 200 210 220 230 240 250 260 270 280 290 300 310 320

Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11

Subsidiaries SAM

Micro Small

Cons Comm

Int'l Corp

Maintaining momentum for growth

Y-o-Y  42.5% 0.2% 14.3% 45.6% 24.5% Y-o-Y  62.1% 33.1% 27.0%

Loans by segment + subsidiaries

(Rp Tn)

26.5%

24.5%

Deposits by Product

–

Consolidated

(Rp Tn)

*Loans from Treasury & International have been reallocated to Corporate following the reorganization in early 2010

-2.3% *) 3.3%

27.7% 314.4tn Total Total 362.2tn 422.3tn 16.6% -40.6% 49.1%

5

(7)

Balanced Earnings from All Business Units

22.11% 19.78% 29.23% 27.19% 4.22% 5.30% 32.13% 34.70% 12.30% 13.02%

12.06% 6.80% 13.49% 11.32% 19.01% 41.25% 48.65% 32.66% 6.79% 7.97%

NII (Net Interest Income)

(Rp bn) % of Total

Fee Income

(Rp bn) % of Total

Asset Spread

(Rp bn) % of Total

Liabilities Spread

(Rp bn) 3,514

4,646

671

5,107

1,955 4,011

5,513

1,075

7,036

2,640

Corporate + Institutional

Comm & Business Banking

Treasury, FI & SAM *

Micro & Retail

Consumer Finance

Q4 '09 Q4 '11

2,405

3,453

403

758

1,933 2,876

4,659

784

1,956

2,619

Q4 '09 Q4 '11

1,109

1,193

268

4,349

22 1,135

853

291

5,080

Q4 '09 Q4 '11

26.87% 22.30% 38.57% 36.13% 4.50% 6.08% 8.47% 15.17% 21.59% 20.31%

632

707

996

2,549

356 780

1,299

1,533

3,747

915

Q4 '09 Q4 '11

3,201

(8)

7 Strong and liquid balance sheet growing Rp102 tn YoY

Assets

FY 2011

FY 2010

Liabilities

FY 2011

FY 2010

Cash

11,358

9,521

Current Account

92,617

68,372

Current Acc w/ BI & Other Banks

45,980

33,427

Savings

163,779

133,586

Placement with BI & Other banks

51,540

29,052

Time Deposits

165,855

160,254

Advances (Other)

12,557

7,710

Marketable Securities

12,254

27,496

Total Deposits

422,251

362,212

Government Bonds

78,459

78,093

Loans (Gross)

314,342

246,201

Securities Issued

2,212

1,491

Provisions of Loans

(12,168)

(11,522)

Deposits from other banks

12,654

7,629

Reverse Repo

12,370

8,980

Borrowings

13,534

7,051

Other Provisions

(1,830)

(3,521)

Other Int Bearing Liabilities

21,612

17,253

Investments

9,052

7,219

Non Int Bearing Liabilities

16,975

12,068

Deferred Tax Assets

3,800

5,466

Equity

62,654

42,070

Other Assets

14,178

11,652

Total

551,892

449,774

Total

551,892

449,774

(9)

1.70% 8.5% 0.2% 8.2% _7.2% 1.4% 5.5% 7.9% 2.3% 7.5% 5.7% 12.4% 35.3% 16.1% 24.3% 17.7% 30.5% 21.4% 15.7% 20.0% 24.7% 27.7% 0.0% 10.0% 20.0% 30.0% 40.0% Q 4 '0 0 Q 4 '0 1 Q 4 '0 2 Q 4 '0 3 Q 4 '0 4 Q 4 '0 5 Q 4 '0 6 Q 4 '0 7 Q 4 '0 8 Q 1 '0 9 Q 2 '0 9 Q 3 '0 9 Q 4 '0 9 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 '1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1

QoQ Growth (%) YoY Growth (%)

4 3 .0 4 8 .3 6 5 .4 7 5 .9 9 4 .4 1 0 6 .9 1 1 7 .7 1 3 8 .5 1 7 4 .5 1 7 5 .2 1 8 1 .6 1 8 8 .3 1 9 8 .5 2 0 1 .9 2 1 8 .0 2 3 1 .9 2 4 6 .2 2 5 1 .8 2 7 6 .7 2 9 7 .5 3 1 4 .4 26.3%25.3% 35.4% 42.5% 53.7% 51.8% 57.2% 54.3% 59.2% 62.8% 61.4% 71.7% 67.6% 74.1% Q 4 '0 0 Q 4 '0 1 Q 4 '0 2 Q 4 '0 3 Q 4 '0 4 Q 4 '0 5 Q 4 '0 6 Q 4 '0 7 Q 4 '0 8 Q 1 '0 9 Q 2 '0 9 Q 3 '0 9 Q 4 '0 9 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 '1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1

Loans (Rp tn) LDR (%)

LDR increased to 74.1% on loan growth of

. %…

Quarterly Loan Data

(Consolidated)

4 4 .7 5 3 .6 5 9

.7 ₇6.4 ₇8.8 ₇9.7 82

.0 8 2 .7 8 2 .9 8 8 .7 9 2 .8 9 3 .6 9 2 .5 1 0 3 .1 1 1 0 .4 1 1 1 .7 3 5

.7 ₃2.6 36

.4 4 3 .8 4 2 .6 4 3 .6 4 5 .3 5 0 .6 5 0

.4 ₅4.2 58

.6 6 4 .7 6 4

.5 70

.7 ₇5.3 81

.6 10

.2 1 3 .7 1 5 .1 1 4 .4 1 5

.8 ₁6.6 17

.0 19

.7 20.7 2

2 .8 2 4 .5 2 5 .9 2 7

.7 30

3 1.9

5 2 .6 8 4 .3 8 4 .5 5 4 .8 4 5 .0

7 ₅.38 ₅.55

4 6.5

1 7.3

1 7 .7 0 8 .5 2 9 .4

6 11.8

.7 ₁1.1

1 4 .3 1 9 .3 1 9 .7 2 0

.6 ₂1.7 23

.8 26 .7 28

.6 30

.4 3

.3 36 .3 39

.0 Q4' 0 5 Q4' 0 6 Q4' 0 7 Q4' 0 8 Q1' 0 9 Q2' 0 9 Q3' 0 9 Q4' 0 9 Q1' 1 0 Q2' 1 0 Q3' 1 0 Q4' 1 0 Q1' 1 1 Q2' 1 1 Q3' 1 1 Q4' 1 1

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  27.0% 62.0% 33.0% 25.2% 19.4% 25.1% Total 14.2% 4.3% 11.1% 29.6% 40.8% Break down

(10)

9.71

9.65

4.96

4.21

4.44

32.96

Corporate Commercial Small Micro Cons Fin Total

259.04

32.96 13.22 5.55 1.40 0.66

273.96

Q3'11 Disburs. Install. Payment FX Impact Write-Offs Q4 '11

Rp32.9 tn in loans disbursed in Q4, Rp116 tn in 2011

Loan Movement (Rp tn) –Bank Only (Q4 2011) Loan Disbursement by Segment in Q4 (Rp tn) –Bank Only

219.03

116.09

41.45

17.97 _0.24 _1.98

273.96

Dec'10 Disburs. Install. Payment FX Impact Write-Offs Q4 '11

Loan Movement (Rp tn) –Bank Only (Full Year 2011) Loan Disbursement by Segment in Full Year 2011(Rp tn) –Bank Only

43.25

32.95

13.68

11.43

14.78

116.09

Corporate Commercial Small Micro Cons Fin Total

(11)

Strong Revenue Growth, Revenues of Rp35.5 tn

Summary P&L

FY 2011

FY 2010

4Q 2011

4Q 2010

Y-o-Y

Rp (Bn)

Δ %

Interest Income

37,730 33,931 10,218 8,842 11.2%

Interest Expense

(15,954) (14,413) (4,158) (3,688) 10.7%

Net Interest Income

21,776 19,518 6,060 5,154 11.6%

Net Premium Income

1,815 553 (640) 360 228.2%

Net Interest Income & Premium Income

_23,591 _20,071 5,420 5,514 _17.5%

* Other Fees and Commissions

6,543 5,102 1,884 1,434 28.2%

* Foreign Exchange Gains - Net

813 595 333 172 36.6%

* Gain fr sale & Incr. in Val & Sale of Bonds

187 287 90 140 (34.8%)

* Others

4,412 2,736 1,063 1,120 61.3%

Total Non Interest Income

11,955 8,720 3,370 2,866 37.1%

Total Operating Income

35,546 28,791 8,790 8,380 23.5%

Provisions, Net

(2,885) (2,951) (94) 249 (2.2%)

Personnel Expenses

(6,766) (5,802) (1,903) (1,612) 16.6%

G & A Expenses

(6,578) (5,468) (1,409) (1,682) 20.3%

Loss from decr. in value of Sec & Gov Bonds

- (23) 1,264 2 (100.0%)

Other Expenses

(2,968) (805) (2,602) (135) 268.7%

Profit from Operations

16,349 13,742 4,046 5,202 19.0%

Non Operating Income

163 230 52 88 (29.1%)

Net Income Before Tax

16,512 13,972 4,098 5,290 18.2%

(12)

2 .8

%

3.7%

4.3%

3.6%

4.9%

4 .7

%

5.1%

5.5%

6.0%

5.4%

5.5%

5.3%

4.9%

5.3%

5.1%

5.2%

6.0%

5.8%

5.1%

5.4%

5.2%

5.4%

Q4 '0 2 Q4 '0 3 Q4 '04 Q4 '0 5 Q4 '0 6 Q4 '0 7 Q1 '0 8 Q2 '08 Q3 '0 8 Q4 '0 8 Q1 '0 9 Q2 '0 9 Q3 '09 Q4 '0 9 Q1 '1 0 Q2 '1 0 Q3 '1 0 Q4 '10 Q1 '1 1 Q2 '1 1 Q3 '1 1 Q4 '1 1 NIM 13.00% 9.53% 11.01% 9.27% 10.12% 10.65% 9.06% 9.8% 8.65% 8.98% 8.65% 8.71% 10.80% 10.80% 6.28% 4.83% 7.31% 4.49% 3.77% 5.32% 4.93% 3.99% 3.83% 3.78% 3.65% 3.44%

Yield on Assets Cost of Funds

Q4 NIM of 5.44% as Cost of Funds Declined

Quarterly Net Interest Margins

_{Quarterly Yields & Costs by Currency*}

5.8% 5.1% 5.3% 6.6% 5.8% 6.8% 6.5% 6.6% 5.8% 6.4% 5.2% 5.2% 5.0% 7.2% 5.1% 4.9% 4.7% 5.3% 5.6% 4.0% 3.5% 3.4% 2.7% 3.0% 2.7% 2.3% 2.1% 1.5%

0.7% 0.8% 0.7%0.5% 0.3% 0.6%

0% 5% Q4 '05 Q 4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q 4 '09 Q1 '10 Q2 '10 Q3 '10

Q4'10 Q1'11 Q2'11 Q3'11 Q

4'11 12.0% 12.1% 12.9% 12.9% 12.6% 12.7% 12.5% 11.8% 12.1% 11.9% 12.5%

7.18% _{6.5% 6.5%}

5.9% 4.1% 6.9% 4.5% 4.6% 5.8% 5.3% 4.2%

4.1% 4.3%4.2% 3.9%

0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

IDR

FX

(13)

Continued Strong Growth in Fee-based Income

Non-Loan Related Fees & Commissions

2011

2010

Q4 2011

Y-o-Y



%



%

(Q-o-Q)

Administration Fees

_1,802

_1,451

₅₀₁

_24.2%

_7.8%

Opening L/C, BG & Cap Market (custodian & trustee)

519

483

180 7.4%

54.3%

Subsidiaries

_1,526

₈₄₇

₄₇₂

_80.1%

_55.7%

Transfer, Retail Transaction

₈₇₂

₇₀₁

₂₃₆

_24.5%

_1.0%

Credit Cards

₉₁₆

₇₅₂

₂₂₇

_21.9%

_(5.5%)

Mutual Fund, ORI & Bancassurance

₃₀₇

₁₉₇

₈₃

_56.3%

_6.5%

Syndications

₂₂₁

₇₈

₆₈

_181.1%

_14.1%

Payroll Package

₇₃

₆₆

₂₂

_11.0%

_3.6%

Others

₃₀₇

₅₂₇

₉₅

_(41.7%)

_28.4%

Total

_6,543

_5,102

_1,884

_28.2%

_18.4%

Foreign Exchange Gains

₈₁₃

₅₉₅

₃₃₃

_36.6%

_97.0%

Gains Fr Sale & Incr. in Value of Sec. & Gov.Bonds

₁₈₇

₂₈₇

₉₀

_(34.8%)

_164.7%

Total Operating Income

_35,546

_28,791

_8,790

_23.5%

_2.4%

% of Non Loan Related fees to total operating income

21.22%

20.78%

26.25%

2.1%

25.6%

(14)

1,0

16 993 769

1,0

34 916

1,1

48 827

1,0

1,1

1,3

1,0

1,2

1,4

1,6

1,5

1,8

1,4

869 1,3

1,0

1,1

58 1,1

1,1

1,3

1,4

1,6

12 1,5

1,5

1,6

1,9

'06

'07

'08

'09

'10

Q4'10 Q1'11 Q2'11 Q3'11 Q4'11

G&A Expense Personnel Expense

83.3%

54.3% _41.1%

40.6% _35.1%

39.3%

39.0% 38.1%

32.4% 37.3%

39.0%41.6% CIR* (%)

Q4 Cost to Income Ratio of 41.6%

Breakdown of Q4 2011 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR*

*Excluding the impact of non-recurring interest income & bond gains

*VSS costs moved to Employee-Related in G&A in 2009

** Reclassification of Rp693 Bn in G&A expenses to Other Operating Expenses at AMFS

Q Q Q Growth (%)

QoQ YoY

Personnel Expenses

Base Salary 478 471 370 1.5% 29.0%

Other Allowances 874 744 640 17.4% 36.5% Post Empl. Benefits* 58 59 90 (2.1%) (36.0%)

Training 69 64 100 8.1% (30.9%)

Subsidiaries 425 334 411 27.4% 3.3%

Total Personnel Expenses 1,903 1,671 1,612 13.9% 18.1% G&A Expenses

IT & telecoms 174 187 165 (6.9%) 5.4% Occupancy Related 481 409 443 17.7% 8.6% Promo & Sponsor 267 287 323 (7.0%) (17.3%) Transport & Travel 162 100 124 61.6% 30.4% Prof. Services & Others 189 139 196 36.2% (3.5%) Employee Related 229 175 155 30.5% 47.7% Subsidiaries** (93) 586 277 (115.8%) (133.5%) Total G&A Expenses 1,409 1,883 1,682 (25.2%) (16.3%)

(15)

42.6 58.1 72

91.9

108.9 115.9 112.2

134.0

172.9

195.8

242.4

352.5

15.4 17

25.5 27.5 27.4 28.4 28.3 27.2 30.5 35.7

53.3

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

RWA (Rp tn) Total Capital (Rp tn)

31.3%

26.4%

23.4% 27.7%

25.3%

23.2% 24.6%

20.8%

15.7% 13.4%

15.1%

CAR*

308

1,168 1,549 1,744

519 510 1,027 1,390 1,400 2,003

3,780 1,300

602 690

1,329

97 305 1,113

1,221 1,526 2,031

2,543

967

1,017 1,528

1,408

610 372 1,040

1,345 1,693

2,352 2,850

645 799 819

775

(623) 1,234

1,166 1,390

2,536 2,833

3,073

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Q4 PAT Q3 PAT Q2 PAT Q1 PAT

IDR bn

22.0% ROE, supported by a strong capital position

Capital & RWA Movement

Profit After Tax & ROE

21.5% 26.2%

23.6%

22.8%

2.5% 10.0%

15.8% 18.1%

22.1%

22.0% RoE - AT

• CAR inclusive of Credit and Market Risk started in December 2004

(16)

Strengthen leadership in

wholesale transaction banking



Comprehensive financing &

transaction solutions



Holistic relationship approach

for leading Indonesian

institutions

Build #1 or #2 positions in key

retail financing segments



Win in mortgage, personal loan

& cards



Become a major player in

micro-banking



Champion Syariah in Indonesia

Be the retail deposit bank of

choice



Win through differentiated

customer experience and

targeted propositions



Deploy innovative payment

solutions



Total Wholesales Fees Rp2.7

Tn



Total Wholesale Low Cost

Deposits Rp74.1 Tn



Growth of Tx cash management

206%



Total Retail Fees of Rp5.0 Tn



Total Retail Low Cost Funds

Rp164.1 Tn



YoY increase in # of E-channel

transaction: 31%



Total Retail Loans of Rp81 Tn



Assets Spread Rp6.3 Tn



29.6% of total loans

Pillar 1

Pillar 2

Pillar 3

1) Excluding collection extracomptable Rp 3,237bn

Strategy Focus on 3 Areas of Highest Potential:

Wholesale Transactions, Retail Payments & High Yield Loans

(17)

Breakdown of Net Expansion in Corporate Lending

Q4

–

Q4

Total Rp18.17 tn)

Rp Billion

Di e sifyi g ou st e gth i Wholesale le di g…

(1,153) (389) (160) 193 214 360 574 890 945 983 1,072 1,153 1,159 1,208 1,299 2,365 3,170 4,292 (4, 600) (3, 60 0) (2, 60 0) (1, 600)

(600) 400 1,

400 2,400 3,400 4,400 5,400 6,400

Mfg-Oth Util-Oth Mining-Oth Others Soc Serv Agri-Oth Trad-Oth Mfg-Metal Mfg-Feed Trad-Ret Roads & Bridge Electricity Trad-Distr Trans Mining-Coal Trad-Exp Bus Serv Plantations % 25.6% 41.5% 302.6% 276.2% 12.7% 70.5% 26.2% 74.9% 44.6% 270.1% 50.4% 57% 32.6% 28.6% 5.5% -1.5% -78.3% -3.9% Rp Billion

Breakdown of Net Expansion in Commercial Lending

Q4

–

Q4

Total Rp16.41 tn)

(152) 524 612 655 661 666 705 761 783 794 1,020 1,193 1,220 1,225 1,229 1,558 2,955 (2, 400) (1, 800) (1, 200)

(600) 0 600 1,

200 1,800 2,400 3,000

Others Mfg-Text Trad-Ret Constr Gas Mining-Coal Agri-Oth Mass Trans Trad-Oth Trans-Comm Mfg-Metal Trad-Distr Mfg-Oth Mfg-RawM Plantations Mfg-Chem Bus Serv % 33.2% 25.0% 19.6% 66.6% 9.8% 17.3% 37.8% 569.5% 18.7% 18.2% 64.5% 47.6% 86.8% 15.6% 23.5% 53.7% -195%

(18)

Wholesale Transactions driving CASA higher

745 2,414

4,066 6,153

7,784 8,561

9,514 10,428

10,943

2006 2007 2008 2009 2010 Q

2011

Cash Management Users

Wholesale CASA Deposits

,05

,25

,69

,60

,11

7.24%

(0.91%)

(13.11%) 38.27%

-50.00% -30.00% -10.00% 10.00% 30.00% 50.00% 70.00% 90.00%

(5,000) 5,000 15,000 25,000 35,000 45,000 55,000 65,000 75,000

Dec 07 Dec 08 Dec 09 Dec 10 Dec 11

Total CASA (IDR Billion)

YoY Growth

248 479 716 685 677

4Q10 1Q11 2Q11 3Q11 4Q11

Average # of Cash Management Trx

(000), total 7.7 mn transaction in 2011

*) _{Exclude MTS}

17

172% YoY

(19)

Growing Volume in Wholesale Transaction Business

Mandiri Cash Management

Forex

430,800 685,220 956,010

7,266,410

18,803,324

29,773,782

-5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000

-200,000 400,000 600,000 800,000 1,000,000 1,200,000

Dec 09 Dec 10 Dec 11

Value (IDR Billion) # of Trx

66,031 66,481 76,927

185,739

239,896

218,436

-50,000 100,000 150,000 200,000 250,000 300,000

60,000 62,000 64,000 66,000 68,000 70,000 72,000 74,000 76,000 78,000

Dec 09 Dec 10 Dec 11

Value (IDR Billion) # of Trx

Wholesale Remittance

Trade Transaction : Export, Import, Domestic

58,826 70,396 92,106

396,814

435,866

445,267

370,000 380,000 390,000 400,000 410,000 420,000 430,000 440,000 450,000

-10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000

Dec 09 Dec 10 Dec 11

Value (IDR Billion) # of Trx

84,847 85,256 109,501

454,120

495,813

510,916

420,000 430,000 440,000 450,000 460,000 470,000 480,000 490,000 500,000 510,000 520,000

-20,000 40,000 60,000 80,000 100,000 120,000

Dec 09 Dec 10 Dec 11

Value (IDR Billion) # of Trx

(20)

Product Holding for Commercial & Corporate

6.8

7.3

7.6

8.3 _8.2 _8.2

8.4 8.4 8.5

Q4 2009

Q1 2010

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Product Holding Commercial

Product Holding Corporate

6.3

6.6

6.9

8.3

9.0

8.6

8.2

8.3

8.7

Q4 2009

Q1 2010

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

(21)

79.0 _74.6 78

.8 74.4

80.4 ₇₅

81.3 86.3 95_.5 88.2 93.4

98.5 109.6 107.3

112.7 120.4

134.0

0 5.0746.1605.1146.0726.8056.863 7.447

8.119

9.27610.217 11.00

11.04 11.7 11.9 11.5

11.3

4 4 5 5 7 6

6 8

8 9

11 ₁₀ 12 12 16 1 1 1 2 2 2 2 2

3 ₃ 3

3 3

44 42 51 63 63 65 69 68 72 71 69

71 ₆₉ 69 71

5 5 5

7 7

7 ₆ 6 6

6 ₅ 5

5 5 0 20 40 60 80 100 120 140 160 180 200 220 240 260 Q 4 '0 7 Q 1 '0 8 Q 2 '0 8 Q 3 '0 8 Q 4 '0 8 Q 1 '0 9 Q 2 '0 9 Q 3 '0 9 Q 4 '0 9 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 '1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail CASA rose by 22.1% Y-o-Y

Retail Deposit Analysis

–

Bank Only

2.50% _2.15%

3.76% 4.23%

3.5% 3.48%

2.46% 2.35% 2.23% 3.60% 3.24% 2.91%

2.84%

2.7%

2.26% 2.16% 2.20% 2.07% 6.90% _6.78% 7.41% 9.26% 9.55% 8.1% 6.50% 6.53%

6.66% 6.49% 6.28%

0% 5% 10% 15%

Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

2.03%

1.45%1.63% 1.12% 0.87% 0.59%

0.15% 0.12%

0.13% 3.87%

2.86% 3.73% 3.32% 2.99% 0.96% 0.47% _0.46% 0.81% 0% 2% 4% Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1' 11 Q2' 11 Q3' 11 Q4' 11

FX DD FX TD 58.90% 63.50% 61.40% 62.30% 64.70% 63.40% 63.30% 66.10% 63.80% 66.10% 63.80% As % of total deposits

(22)

…th ough e ha ed t a sa tio apa ilities

Quarterly Transaction Volume (Mn)

Quarterly Transaction Value (Rp tn)

Quarterly Users (Mn)

* Inactive cards have been purged

99.8 110.1 122.9 142.0 141.9 148.1 157.3 168.1 183.9 186.2

42.1 40.6 42.3 _38.6 41.7

43.043.5 45.3

5.6 10.1 7.9

11.6 15.0 15.4

21.3 23.1 25.4 3.4 5.5 8.3 16.5 26.6 31.8 49.7 54.6 68.5 0 25 50 75 100 125 150 175 200 Q1 '08 Q2 '0 8 Q3 '0 8 Q4 '0 8 Q1 '0 9 Q2 '0 9 Q3 '0 9 Q4 '0 9 Q1 '1 0 Q2 '1 0 Q3 '1 0 Q4 '1 0 Q1' 11 Q2 '1 1 Q3 '1 1 Q4 '1 1 ATM Branch SMS Banking Internet Banking 57.7 64.7 77.1 95.5 97.1 107.5 122.2 130.8 147.7 153.2

1.0 1.8 1.4 2.1 2.6 3.5

3.9 4.1

4.6 3.6 3.8 4.8 7.1

8.7 11.7 16.3 18.1 21.5 0 20 40 60 80 100 120 140 Q1 '0 8 Q2 '0 8 Q3 '0 8 Q4 '0 8 Q1 '0 9 Q2 '0 9 Q3 '0 9 Q4 '0 9 Q1 '1 0 Q2 '1 0 Q3 '1 0 Q4 '1 0 Q1 ' 1 1 Q2 '1 1 Q3 '1 1 Q4 '1 1 ATM SMS Banking Internet Banking 8.83 10.01 7.20 7.67 8.06 _8.57 8.72 8.17 8.96 1.54 2.74 2.16 3.17 4.21 4.66 4.61 4.85 5.08

0.85 0.99 1.11

1.21 1.25 1.39 1.44 1.49 1.62 0 2 4 6 8 10 Q1 '0 8 Q2 '0 8 Q3 '0 8 Q4 '0 8 Q1 '0 9 Q2 '0 9 * Q3 '0 9 Q4 '0 9 Q1 '1 0 Q2 '1 0 Q3 '1 0 Q4 '1 0 Q1 ' 1 1 Q2 '1 1 Q3 '1 1 Q4 '1 1 Debit Cards SMS Banking Internet Banking

21

(23)

…a d I o ati e Pay e t Solutio s

Pre-Paid Card Volume (000s)

165.6

259.0 293.0

353.0 458.0

516.7 626.8

688.3 773.3

99.5

129.3 150.0

163.0

183.0 204.0 295.0

367.5 505.8

34.3 36.0

39.3 43.0

45.0

47.6 47.7

48.1 49.4

-09

-10

Jun

-10

Sep

-10

-11

Jun

-11 Sep-11

-11

Indomaret e-Toll Gaz

207.7 209.9 173.0

154.0 165.0 152.7 133.3

130.3 273.8 688.2

1,072.9

1,078.0 989.0 1,317.0

1,174.3 1,762.5

2,047.9 2,872.2

8.8 2.7 _3.6 _5.5 _7.0 _3.9 _4.1 19.4 _4.7

-09

-10

Jun

-10

Sep

-10

-11

Jun

-11

Sep

t-11

-11

Indomaret e-Toll Gaz

(24)

Retail Payment system gaining Traction

Volume Mandiri Business

Saving Account (Tn)

3.5

4.8

8.0

17.7

34.7

2007 2008 2009 2010 2011

96% YoY Growth

90,577

132,058

181,744

238,461

317,269

2007 2008 2009 2010 2011

33% YoY Growth

Fee Income from e-channel Trx

23

23,690

27,611

33,732

47,127

92,903

2007 2008 2009 2010 2011

(25)

Retail Value Chain in Gas Station & Telco Industry

Value Chain Gas Station

Value Chain of Top 3 Telco

Relationships

246

648

747

830

922

1,511

2,589

2,745

3,011

3,346

-500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

(50) 50 150 250 350 450 550 650 750 850 950

Dec 09 Sep 10 Dec 10 Sep 11 Dec 11 Avg Bal

(Rp bn)

Total SPBU (unit)

93 104

118

151

144 88 91

108

187 ₁₉₆

-50 100 150 200 250 300

-20 40 60 80 100 120 140 160 180 200

Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Avg Bal

(Rp bn)

Total Authorized Dealer (unit)

(26)

Buildi g ou high yield usi ess i Mi o & S all…

(Rp Bn)

30,702 38,999

8,297

Q4 2010 Growth Q4 2011

YoY 27.02%

Consumer Loans

(Rp Bn)

22,686 30,202

7,516

Q4 2010 Growth Q4 2011

YoY 33.13%

Business Banking Credits

(Rp Bn)

Micro Credit

7,305

11,845 4,385

Q4 2010 Growth Q4 2011

YoY 62.10%

5 ,6

5

6

0 ,6

7

6

3 ,3

2

3

6 ,8

5

1

7

3 ,3

2

4

8

1 ,0

4

6

26.85%

27.70%

28.59%

27.58%

28.31%

29.58%

20.00% 22.00% 24.00% 26.00% 28.00% 30.00%

30,000 40,000 50,000 60,000 70,000 80,000 90,000

Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011

Retail to Total Loan

Micro Credits Business Banking Credits

Consumer Loans

(27)

Strong Microfinance Growth (1)

200 300

600

800

878 10

152

480

710

2008 2009 2010 FY 2011

Branch Unit Kiosk

271 430

561 611

647 694

2008 2009 2010 H1 2011

9M 2011

FY 2011

Customers (000)

Network

# Of New Customers

73,566 79,500

76,325 94,855

74,037 110,000

121,007 146,359

Q1 '10

Q2 '10

Q3 '10

Q4 '10

Q1 '11

Q2 '11

Q3 '11

Q4 '11

(28)

1,347

1,646 1,645

2,195

1,826

2,522 2,791

4,208

Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11

Booking

Strong Microfinance Growth (2)

Outstanding (IDR Trillions)

4.4

5.4

7.3

8.5

9.5

11.8

2.02%

2.29%

2.76%

3.08%

3.20%

0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00%

1 2 3 4 5 6 7 8 9 10 11 12 13

2008 2009 2010 H1 2011 9M 2011 FY 2011

Mandiri Microfinance Outstanding Mandiri Market Share

Booking Volume

–

Rp bn

16.5% 16.5%

17.3%

16.9%

17.9%

17.7% 17.1%

21.0% Asset Spreads(%)

(29)

1,522 3,050 3,610 5,382 6,393 7,199 7,717 8,052 8,376 8,814 9,193 10,017 10,681 11,626 12,593 13,500 14,268 15,523 16,466 17,779 2,852 4,131 3,666 3,437 3,612 3,702 3,761 3,721 3,697 3,704 3,699 3,753 3,822 3,890 3,941 3,957 3,964 3,979 3,949 3,887 1,921 1,930 2,285 3,010 3,192 3,658 3,999 3,993 3,983 4,099 4,252 4,541 4,719 4,985 5,194 5,428 5,643 5,919 6,100 6,233 1,270 1,367 1,293 1,908 1,926 2,008 2,113 2,223 2,251 2,452 2,754 2,989 2,973 3,239 3,372 3,589 3,575 3,761 3,910 4,296 816 888 1,544 25 1,376 1,476 1,704 2,217 2,826 3,454 3,492 4,200 5,115 47 59 82 245 290 452 563 564 572 615 691 915 1,063 1,214 1,325 1,393 1,454 1,583 1,630 1,690 0 2 ,5 0 0 5 ,0 0 0 7 ,5 0 0 1 0 ,0 0 0 1 2 ,5 0 0 1 5 ,0 0 0 1 7 ,5 0 0 2 0 ,0 0 0 2 2 ,5 0 0 25 ,000 2 7 ,5 0 0 3 0 ,0 0 0 3 2 ,5 0 0 3 5 ,0 0 0 3 7 ,5 0 0 4 0 ,0 0 0 Q4 '04 Q4 '05 Q4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 O ther Aut o C a sh C ol la ter a l Loa ns C redi t C a rds P a yro ll Loa ns H om e Equi ty L oa ns M or tgages

…as

el

l as Cosue

ledi

g,

hi

h ose

27. 06%

Y

-o

-Y

on

Mort

gages

and

Veh

icl

es

Loan

T

ype

Gr

o

wth

(%)

Y

-o

-Y

Q

-o

-Q

Ot

her

2

1 .3

0 %

3 .3

9 %

Aut

o

Loans*

8

0 .9

8 %

2

1 .8

0 %

Cr

edi

t Car

ds

1

9 .6

9 %

9 .8

6 %

P

a

yr

ol

l Loan

s

1

4 .8

2 %

2 .1

7 %

Home

E

qui

ty Loans

-1

.7

8 %

-1

.5

7 %

Mortg

age

s

3

1 .7

0 %

7 .9

7 %

Tot

al

Consumer

2

7 .0

6 %

7 .5

6 %

Quart

erl

y

C

onsum

er

Loan B

al

an

ces

b

y

Typ

e

C

onsum

er

Loan G

row

th

b

y

Typ

e

Rp3 9 tn *Au to & M oto rcy cl e Loans cha nn el ed or ex ecu ted th rou g h fi na nce co m pa ni es = Rp 6 .97 Tn in ou r C om m ercia l Loan P ort fol io

28

(30)

375 566

852 966

1,146

587 302

78 398

341 425

606 694

1,306

1,369 1,656

'10

JF Non JF

Total Booking and the Breakdown for

Joint Financing and Non JF

_{Breakdown of Financing}

405 539

806 1,101

1,370 1,364

1,2451,355

309 306

351 372

350 422

342 312

61 79

118 99

118 109

84 67

Motorcycle Used Car New Car

2011 Performance

Mandiri Tunas Finance: Total Financing Increased by 10.31% YoY

29 (Rp Bn)

2011

2010

Change

Loans

8,361

4,824

73.32%

Net Income

65.7

70.3 -6.54%

Approval Rate (%) 84.71

86.45 -2.01%

Disbursement

7,138

4,549

56.91%

NIM (%)

3.64

4.95 -26.46%

ROA (%)

2.83

4.72 -40.04%

ROE (%)

16.92

19.77 -14.42%

CER (%)

46.51

47.25 -1.57%

(31)

12,655 16,202 10,983 8,334 12,912 16,966 15,148 14,058 13,451 13,502 15,412 16,332 15,895 18,148 17,506 17,417 17,479 17,498 15,758 13,516 12,922 11,844 11,410 0 2,0 00 4,0 00 6,0 00 8,0 00 10 ,000 12 ,00 0 14 ,00 0 16 ,00 0 18 ,00 0 20 ,00 0 Q4 '01 Q4 '02 Q4 '03 Q4 '04 Q4 '05 Q4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1'11 Q2'11 Q3'11 Q4'11 2 -Sp eci al M en ti on Loa n s (Rp B n ) 26.2% 24.8% 15.0% 9.4% 12.9% 15.5% 11.9% 11.5% 10.0% 9.2% 9.7% 10.2% 10.6% 9 .0 % 7.2% 6.1% 5.3% 4.6% 4.2% 0% 10% 20% 30% 40% 50% Cat 2 %

N

P

L

Mo

vem

en

t

-C

onso

lida

ted

19.80% 9.70% 7.30% 8.60% 7.10% 25.28% 16.34% 7.17% 5.14% 4.74% 4.44% 4.73% 5.85% 4.78% 3.79% 2.79% 2.56% 2.54% 2.60% 2.42% 2.60% 2.42% 2.56% 2.21% 15.3% 0.5 6% 0.5 5% 70 .0% 14 6.7 % 12 9.5% 19 0.4 % 13 9.1 % 12 8.8 % 44 .4% 11 6.0 % 138 .9 % 13 6.1% 21 9.1 % 20 6.0 % 19 2.4 % 17 5.0 % 15 5.5 % 17 4.2 % Q4 '99 Q4 '00 Q4 '01 Q4 '02 Q4 '03 Q4 '04 Q4 '05 Q4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1'11 Q2'11 Q3'11 Q4'11 Gro ss N PL Rat io N et N PL Rat io Pr o v/N PL

Gr

oss

NPL

s

2. 2%

, coverage

at 17

4%

-Cat

egory 2

loan

decl

ine

d t

o 4.2%

C

a

teg

or

y

2 Loans

–

B

an

k On

ly

30

(32)

Q4 Total NPLs Rp6.05 tn with Rp0.29tn Up grades

NPLs (Rp tn)

Q4 (Rp tn)

NPLs (%)

Corporate 2.93 0.16 2.63%

Commercial 1.12 (0.22) 1.38%

Small 0.75 (0.12) 2.48%

Micro 0.48 (0.01) 4.07%

Consumer 0.77 (0.07) 1.97%

Total 6.05 (0.25) 2.18%*

Non-Performing Loans by Segment

* Excluding Restructuring Losses and loans to other banks.

36.37

312.14

152.29 95.83

61.38

145.22 83.54

281.90

229.49

78.09

110.48

134.87

0 250 500 750 1,000

UG to PL DG to NPL W/O

Cons

Micro/Small Comm Corp

Movement by Customer Segment (Rp Bn)

6.30

0.29

0.77

0.22 _0.66

0.16 _6.05

Q3 '11 UG to PL DG to NPL Payment Write-Offs Other Q4 '11

Non-Performing Loan Movements (Rp tn)

–

Bank Only

(33)

Total Loans originated since 2005

Net Upgrades(%)/

Downgrades(%)

_{Q4 2011Details}

Loan Background

Q

Balance

(Rp bn)

Q4

2009

Q1

2010

Q2

2010

Q3

2010

Q4

2010

Q1

2011

Q2

2011

Q3

2011

Q4

2011

DG to

NPL

%

UG to

PL

%

Corporate 97,224.86

0.03

0.28

0.17

0.18

0.05

0.45 -

0.20

0.29

0.31

0.02

Commercial 74,222.81

0.04

0.51

0.27

0.13

0.04

0.27

0.05

0.13

0.00

0.07

0.08

Small 26,594.27

0.62

0.92

0.40

0.83

0.37

0.92

0.91

0.29

0.49

0.20

Micro 11,733.84

1.39

2.47

1.97

2.17

1.51

2.08

1.69

1.93

1.03

1.19

0.17

Consumer 38,128.72

0.11

0.40

0.33

0.35

0.14

0.45

0.28

0.33

0.08

0.28

0.19 Total

247,904.50

0.12

0.50

0.32

0.33

0.12

0.51

0.22

0.34

0.21

0.29

0.09 Q4 2011 annualized net down grades of 0.8% on loans

originated since 2005.

(34)

34 .56

35 .24

37 .83

36 .49

35 .64

31 .15

29 .19

29 .75

30 .62

33 .96

35 .68

38 .86

38 .60

41 .87

44 .44

40 .35

104.5% 95.9% 111.0% 80.5% 78.3% 68.5% 61.9% 68.2% 71.7% 76.3% 80.7% 86.6% 82.9% 91.5% 89.0% 75.8% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% 120.0% Ma r 0 8 Ju ne 0 8 Sep 0 8 Dec 0 8 Ma r 0 9 Ju ne 0 9 Sep 0 9 Dec 0 9 Ma r 1 0 Ju ne 1 0 Sep 1 0 Dec 1 0 Ma r 1 1 Ju ne 1 1 Sep 1 1 Dec 1 1 20 25 30 35 40 45 50 55 60

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Billion

Rp Trillion (Bank Only)

Breakdown of FX lending (Bank Only)

Q4

(Total USD 4.45Bn)

0.02 0.05 0.17 0.20 0.25 0.30 0.42 0.47 1.11 1.45 0

Soc Serv

Oth

Constr

Utilities

Trans

Bus Serv

Trading

Agri

Mfg

Mining



%

18%

-27%

39%

22%

66%

22%

-15%

28%

-31%

12%

33

(35)

3,463 4,394 4,756 3,500 4,302

5,169

8,836 9,175 9,607 9,777

9,954 10,231 10,360 10

,434

10,533 11,040 11,107 11,500

,281

15,469

Jan Feb Mar Apr May Jun Jul Agt Sept Oct Nov Dec 'Jan

'11 Feb

'11 Mar

'11 Apr '11

May '11

Jun '11

Sep '11

Dec' 11

319

1,275 1,389 1,609 1,821

2,085 2,283 2,558 3,202

4,067 4,324 4,878

5,665 7,466

Q4'06 Q4'08 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Rp Billion

Consumer Loans from Alliance Program

(10 top corporate clients)

Total Payroll in 2010-2011(*)

Rp Billion

Co-Branding Prepaid Card Program

3,625 7,272

12,108 14,612 16,495 23,660

36,987

55,174 57,945 63,922

75,407 99,805

Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11

Corporate Card Holder from Alliance Program

(10 top corporate clients)

Leveraging cash generator to accelerate high yield growth

and deposit franchise

(36)

Total Assets Rp48.67 tn

Bond Trading Volume Rp52 tn

Total Assets Rp11.77 tn

Total Loans Rp623 bn

Total Financing Rp7.1tn Total Financing

Rp36.73 tn

Equity & FI Underwriting Rp14.1 tn

Annual FYP Rp 3.227 bn

Net Interest Margin 11.10%

Net Interest Margin 3.64% Total Deposits

Rp42.62 tn

Equity Trading Volume Rp80.8 tn

Fee Contribution Rp403.5 bn

ROA 2.24%

ROA (Before Tax) 2.83% ROE

24.24%

ROE 8.9%

ROE 83.30%

ROE 11.25%

ROE (After Tax) 16.92%

•Remain the leader in

syariah financing

•Capital injection program

over 3 years

•Cross-sell syariah products

to Mandiri customers

•Expansion of business to

fully utilize current capital base

•Cross-sell capital market

services to broad range of Mandiri customers

•Refocus business toward

higher fee income

•Provide end-to-end bank

assurance business

•Continue to build

cross-sell opportunities in various segments

•Bank assurance products

complete our suite of consumer offerings

•Enhance operating model

•Improve risk management

systems and IT

•Improve productivity

•Use Ba k Ma di i s

network and customer throughout Indonesia to develop multi-finance segment, especially in vehicle-ownership financing.

Enhancing synergies & values from subsidiaries

Investment Banking

Syariah Banking Insurance Niche Banking

Bank Sinar Harapan Bali

Multi-Finance

(37)

AXA

Man

di

ri

Fi

nan

ci

al

Servi

ces

Performances

N

e

t

P

rof

it

Af

ter

Ta

x (

in

Bn

)

Ann

u

al

Fi

rs

t

Year

P

rem

ium

(

AF

YP

)

(i

n

Bn

)

#

O

f P

ol

ic

yh

ol

d

er

s

89 90 245 235 171 183 408 439 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 403 599 549 673 820 742 769 946 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 41 % Y o Y Gr o w th 710,481 810,604 892,582 1,518,536 1,602,778 1,638,543 1,695,242 1,744,124 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 9% Yo Y Gr o w th 87 % Y o Y Gr o w th (Rp T n )

2011

2010

Ap

p

rai

sal

V

al

u

e

3

1 .3

2

1 .0

36

(38)

BMRI 2012 Targets

Target 2011

Target 2012

Gross Loan Growth (YoY)

20-22%

Low Cost Deposits (Consolidated) 225 Tn

> 300 Tn

Net Interest Margins

5.30%

~ 5.20%

Efficiency Ratio

45%

~ 45%

Gross NPLs

3%

< 3%

Cost of Credit

1-1.2%

~ 1-1.2%

# of New ATMs

1,000

1,500

# of New EDCs

45,000

70,000

# of New Micro Outlets

400

300 # of New Branches

60

(39)

Operating Performance

Highlights

(40)

39 Rp bn

2,876

1,135 780

513

4,278 710

3,569

741

522

1,075

393

547 1,106

824

954 537

1,138

416

1,187 659

1,144

1,011

1,035

2008 2009 2010 2011

Q1 Q2

Q3 Q4

Corporate Banking:

Contribution Margin declines on provision

7.3%

2,483

Performance to Date: FY 2011

Contribution Margin (after PPAP)

Strategies for 2011

1. Improve the organization of Corporate Banking to support the achievement of business growth and market share both transactions and other major businesses, such as credit, funds, and fee-based income.

2. Develop business solutions capability by providing products and services that are flexible to customer needs. Identifying and understanding the specific needs of the customer to develop a total business relationship.

3. continue to develop and strengthen business alliances to support the strategy of increasing transaction services (retail payment) in order to increase low cost fund and fee-based income, and develop retail financing for segments managed by other SBUs.

3,326

3,910

(41)

Mandiri Sekuritas

fi a ial pe fo

a e

FY 2010

FY 2011

Y-o-Y



(%)

Revenues

398

449 13%

• Investment Banking

71

107 51%

• Capital Market

197

224 14%

• Investment Mgt

65

81 25%

• Asset Recovery

65

37 (43%)

)

Operating Expenses

245

316 29%

Earnings After Tax

103

69 (33%)

Equity Transactions - bn

69.214

80.849 17%

SUN Transactions - bn

40.429

51.989 29%

Bonds Underwritten - bn

10.321

14.141 37%

ROA

11.9%

7%

(41%)

ROE

14.2%

8.9%

(37%)

(42)

41

1. Optimizing Online FX Dealing

System, 88 Mandiri Money Changer and 88 Regional Treasury Marketing.

2. Development of cash pooling management.

3. Intense cooperation with correspondent banks and remittance service providers. 4. Intensification the position of

marketing representatives in the countries of TKI destination. 5. Applying the best restructuring

scheme to support

cooperative/prospective debtors. 6. Increasing the intensity of billing

against NPL debtors who have been restructured.

7. Optimizing written offs collection through legal action.

8. Optimization of e-auction for procurement.

Treasury, FI & SAM

*

2010& 2011:Including Collection from SAM and excluding International branches (except Cayman Branch)

1,075

4,734

324 5,485

(409)

_5,894

210 455

724

3,091

153

348

1,338

389

322

316

1,247

954

118

263

1,540

1,460

2008

2009

2010

2011

Q1 Q2

Q3 Q4

803

21.6%

4,848

1,382

5,894

Performance to Date: FY 2011

Contribution Margin (after PPAP)

Strategies for 2011

(43)

852 923 939 1,010 946

1,266 _1,176 1,314 714

1,166 _1,174 1,057 665

1,094 1,420

1,677

2008*

2009*

2010**

2011

Q1 Q2 Q3 Q4

* incl CM of Small Business & BSM**in June 2010 Decline due to PSAK50&55Implementation

4,659 853

1,299 837

5,974 916

5,058

Commercial Banking:

Strong revenues from Assets

7.4%

3,026

1. Supporting Bank Mandiri Wholesale Banking vision as an Integrated Wholesale Bank through sophisticated, customized and completed services to can increase revenue especially through potential business like Wholesale Banking Deposit and Fee Income.

2. Increasing profit and market share through customer existing share of wallet, increasing revenue from new customer and NPL control.

3. Provide best total business solution for customer by developing product and services including quality

bundling product, quick services and competitive price.

4. Effective Alliance in units based on customer base in Commercial and Small segment, especially in developing value chain business.

4,449

4,709

5,058

Performance to Date: FY 2011

Contribution Margin (after PPAP)

Strategies for 2011

(44)

6.8%

5.6%

6.3%

6.7%

6.3%

6.4%

6 .3

%

5.6%

6 .1

%

6.6%

6.2%

6.4%

6.6%

6.0%

5.9%

6.9%

7.5%

2005 Q4 '0 6 Q4 '0 7 Q1 '0 8 Q 2 '08 Q3 '0 8 Q4 '0 8 Q1 '0 9 Q2 '0 9 Q3 '0 9 Q4 '0 9 Q1 '1 0

Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 13.6% 12.3% 12.4% 13.5% 13.0% 12.4%_12.3% 12.7% 12.0% 12.1% 12.3% 13.3% 13.2% 13.0% 5.7 % 5.4 % 5.4 % 5.4% 5.3 % 5.3 % 5.7 % 6.2 % 5.9% 5.8

% 5.6%

4.7 % 4.9 % _5.0 % 5.1% 5.0 % 5.5 % 5.4

% 5.2_%

1 0 .31 1 1 .15 1 2 .73 1 3 .77 1 3 .25 1 3 .43 1 4 .23 1 4 .94 1 6 .06 1 7 .65 1 9 .87 2 1 .44 2 3 .97 2 7 .09 3 0 .01 3 4 .41 3 6 .73 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2' 10 Q3' 10 Q4' 10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Financing

43 Strong growth from Bank Syariah Mandiri

90.2% 91

.1%

91.1% 89.2% 99.1% 89.1% 86.9% 87.0% _87.9%

83.1% 83.9% 85.2%

86.3%

82.7% 84.1% 88.5% 86.2%

FDR

Syariah Financing (Rp tn)

Net Interest Margin & Cost of Funds

Financial Performance (Rp bn)

YoA

CoF

NIM

FY FY FY FY FY FY

Financing 7,415 10,305 13,278 16,063 23,968 36,727

Deposits 8,219 11,106 14,899 _19,338 _28,998 _42,618

Assets 9,555 12,888 17,066 22,037 32,481 48,672

EAT 65.48 114.64 196.42 290.94 418.52 551.07

Ratios:

ROA 1.10% 1.54% 1.83% 2.23% 2.21% 1.95%

ROE 10.23% 15.94% 21.34% 21.40% 25.05% 24.24%

(45)

Commercial Banking :

Stronger Platform & Improved Distribution Capability

Expanding Scope of Distribution, 2011

Solid & Stable Source of

_{Low Cost Funds}

Product FY 2010

2011 Growth Demand

Deposit 22.91 25.56 11.58% Rupiah _16.29 _17.71 _8.75%

FX _6.62 _7.85 _18.55%

Saving

Deposit* _2.12 _2.55 _20.32% Total Low

Cost Fund 25.03 28.12 12.32% Total Funding 37.34 42.54 13.91% Rp Tn **

Low Cost Fund Ratio = 66.1% Funding from Java & Bali = 76.9% of total funding

Sumatera Loans = Rp 11.4 tn

Funds = Rp 5.4 tn

Kalimantan Loans = Rp 4.6 tn Funds = Rp 3.6 tn

Eastern Loans = Rp 2.1 tn Funds = Rp 0.9 tn

Java and Bali Loans = Rp 62.6 tn Funds = Rp 32.7 tn

* Business Savings Product ** excl. BB CBC = 24 Unit

Floor = 26 Unit TSC = 13 Unit TSD = 15 Unit

(46)

BBC BB Floor

Medan

Makassar Banjarmas

in Surabaya Semarang

Denpasar Bandung

Pekanbaru

Palembang

B.Lampung

Pontianak

Samarinda

Manado

Palu _Jayapura

Balikpapan Batam

Jambi Pematang siantar

Padang

Bekasi Jakarta

Solo Tangerang

Bogor

BBC : 34 BB Floor : 72 BB Desk : 85

Mandiri Business Lounge : 24

45 Business Banking :

Expanding Scope of Distribution, 2011

Solid & Stable Source of

_{Low Cost Funds}

Product FY 2010

2011 Growth

Demand

Deposit 2.40 3.36 40.25%

Saving

Deposit* 0.55 0.86 56.17%

Total Low

Cost Fund 2.95 4.22 43.23%

Total

Funding 4.05 5.12 26.25% Rp Tn**

Low Cost Fund Ratio = 82.6% Funding from Java & Bali = 62.7% of total funding

Sumatera Loans = Rp 7.9 tn Funds = Rp 1.0 tn

Kalimantan Loans = Rp 4.1 tn Funds = Rp 0.5 tn

Eastern Loans = Rp 3.8 tn Funds = Rp 0.3 tn

Java and Bali Loans = Rp 14.4 tn

Funds = Rp 3.2 tn

•Business Savings Product

(47)

727

1,126

761 981

880

855

583

842

1,319 ₄₄₉

877

1,033 1,069

722

899

1,311

2008* 2009 * 2010* 2011

Q4 Q3 Q2 Q1

*Including Small Business

4,167

25.5%

1,956

5,080

3,747

6,069

4,714 546

4,168

3,995

1. Continue to develop retail payment

solutions for top retail industry value chains and business clusters in order to increase low cost deposit and fee-based income

2. Develop customer education to

further increase usage of new retail products (e.g., prpaid) as well as e-channel transactions in order to

i ease usto e s loyalty a d

balances.

3. Continue to develop integrated

branding, marketing strategies and comprehensive distribution strategy (ATMs, Branches, EDCs located at optimal locations)

Micro & Retail Banking:

Rapidly growing our high margin business

3,152

3,320

Performance to Date: FY 2011

Contribution Margin (after PPAP)

Strategies for 2011

(48)

47

174 252

476 496 200

355

455 486

133

413

526 531

324

489

474

693

2008

2009

2010

2011

Q1 Q2

Q3 Q4

831 1,509

Consumer Finance:

Significant growth in spread and fee income

14.5%

1,926

1. Develop clear portfolio

strategy, targeted to key customer segments

2. Differentiate acquisition strategy by markets

3. Increase existing cards productivity 4. Strengthen Consumer Loan

organization structure to support the achievement of business

target, internal portfolio growth and the increasing proportion of market share

5. Improving technology in credit process through Loan Factory project (shared with Cons Card, Small & Micro) to shorten credit turn around time

6. Increasing alliance with other BU to support the achievement of business target

2,205

2,640

915

664 2,891

686 2,205

Performance to Date: FY 2011

Contribution Margin (after PPAP)

Strategies for 2011

(49)

Supporting

Materials

(50)

Buildi g a st o g sa i gs deposit f a hise…

Savings Deposit Growth

Transaction channel growth

49

17 .96

22 .12

2

9 .5

9

40 .50

52 .00

45 .20

5

7 .6

0

81 .54

89 .61

85 .39

9

1 .1

1

95 .95

10

6.45

99 .38

1

0

5 .5

0

11

1.59

12

3.50

12

1.49

1

3

9 .1

5

14

7.62

16

3.78

11.0% 11.7% 16.2% 22.8% 30.6% 22.7% 29.2% 34.6% 32.8% 33.4%

33.7% 34.5%34.1% 34.9% 37.7% 37.1% 37.3% 38.4% 39.2% 38.8%

11.6%12.8% 15.3% 16.9%17.5% 16.0%17.2% 18.5%_18.0% 17.3% 17.8% 17.9% 17.6% 17.3% 17.3% 17.1% 16.8% 17.3% 16.9% 16.9% Q 4 '00 Q 4 '01 Q 4 '02 Q 4 '03 Q 4 '04 Q 4 '05 Q 4 '06 Q 4 '07 Q 4 '08 Q 1 '09 Q 2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q

2'10 Q3'10 Q4'10 Q1'11 Q2

'11 Q 3 '11 Q 4'11

Savings Deposits (Rp tn) As % of Total Deposits

National Share of Savings Deposits (%)

49 2.1 60 7.5 67 7.0 85 3.4 1,0 43 .4 1,1 00 .5 1,1 58 .9 1,2 30 .6 1,3 15 .4 1,2 93 .3 1,3 21 .8 1,3 80 .5 1,3 57 .4 1,4 72 .3 1,5 56 .5 1,6 79 .4 1,6 88 .9 19.6 29.339.1 55.0 84.797.4 106.6116.7

131.4_129.9136.5143.2147.5

157.6168.3 182.7197.3 30.8 29.837.4 49.6 55.861.6 63.267.2 73.071.973.277.676.0 82.585.4 92.991.2 Other Payment Transfer

Withdrawal / Inquiry Avg ATM Daily Vol (000)

1,0693,072 6 ,9 8 8 11 ,57 5 16 ,97 4 22 ,32 8 25 ,81 9 33 ,50 2 39 ,56 9 42 ,54 6 44 ,51 2 47 ,70 5 51 ,75 1 53 ,81 7 57 ,58 3 64 ,09 0 71 ,82 2 75 ,98 0

27 6791,016 1,0861,722

2,9883,009 2,955

3,1652,780

2,8222,9763,335

3,4543,2163,084 3,258 2,9533,219 Q4 '00 Q4 '01 Q4 '02 Q4 '03 Q4 '04 Q4 '05 Q4 '06 Q4 '07 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4'10 Q1' 11 Q2'11 Q3 '11 Q4'11

Quarterly Call Center Trans. (000) Quarterly SMS Trans. (000)

(51)

Showcasing a Bank Mandiri Strategic Alliance

Operating Account of IDR

20,036 Bn & Trade

Services of USD 443 Mn

Value chain comprises 31

companies

Payroll up to 2,083

accounts

Number of EDC installed

: 152 units

Credit cards amounted

to 3,279 cardholders

Loans to employees

IDR 27.0 Bn

(52)

51 23,591

11,769

16,311

17,648

1,401

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

*

FY 2011 operating profit increased by 15.9% from FY 2010

on higher NII & fee-based

12M 2011

Notes :

1. Fee based income excluding gain on sale & increasing value GB & securities

2. Overhead expenses + others excluding provisions *Excluding non recurring income from Garuda Recovery Rp 17,648

12M 2010

Rp billion

Up 15.9%

20,072

8,433

12,075

16,429

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

Rp billion

(53)

Committed to Improving Shareholder Value

Reduce Cost of Funds

Improve Assets Yield

Diversify into Fee Income

Reduce Provision/Loan

Improve Cost Efficiency



Leverage on cash generator

(wholesale) to accelerate growth



Diversity into fee income

Competitive,

sustainable

returns, with

above-average

rates of growth

Business Strategy

Strategic

Alliances

Support Strategy

(54)

53 2,35

8k

Vi

sa &

Mast

ercards

trans

acted

Rp4.

30t

n

in

Q4

2011

Man

d

iri

V

isa

&

Mas

ter

car

d

s

an

d

E

O

Q R

ec

ei

vab

les

567.5 814.9 1,270.2 1,367.4 1,292.8 1,907.5 1,925.9 2,007.7 2,112.7 2,223.2 2,251.0 2,452.2 2,753.7 2,989.3 2,973.4 3,238.7 3,372.5 3,589.2 3,574.9 3,760.9 3,910.5 4,296.0 226 338 651 752 872 1,0 89 1,3 31 1,6 08 1,6 78 1,7 70 1,8 68 1,9 80 2,0 81 2,1 56 2,2 54 2,3 58 Q4 '02 Q4 '03 Q4 '04 Q4 '05 Q4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4'11 R ecei vab les (Rp B n ) Car d s (00 0s) 535 521 532 606 600 836 1,514 1,443 1,668 1,904 1,914 1,891 2,163 2,552 2,676 2,497 2,848 3,003 3,132 3,032 3,421 3,669 4,080 62 61 57 81 56 68 61 62 57 63 63 59 54 60 58 50 55 55 56 53 53 56 55 24 16 10 18 8 11 9 10 32 59 19 39 52 43 55 64 75 65 72 82 58 43 62 Q4 '04 Q1 '05 Q2 '05 Q3 '05 Q4 '05 Q4 '06 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3'11 Q4'11 Tr an sf er B al an ce Cas h Ad van ce R e tai l

Tot

al

C

ar

d

Quart

erl

y

Sal

es b

y

Typ

e o

f

Tr

an

sact

io

n

(

R

p

B

n

)

(55)

Strengthening Risk Management & Monitoring

System

Corporate Customer by Rating

Summary of Risk Management Initiatives

Credit

Market

Operational

• ORM implementation in all unit, incl. overseas offices & subsidiary

• Bring Op. Risk top issues into Management

• Review Op. Risk on new procedures & new products

• Development of risk measurement system for derivative &

structured product (Summit)

• Implement Market Risk Internal Model

• Intraday Limit Monitoring

• Enhance Policy & Procedure for Treasury & ALM

• Enhance FTP (Fund Transfer Pricing) method

• Develop liquidity stress test & safety level

• Develop measurement of capital for IRBB

• Wholesale Transaction: Optimize credit decision process by focusing on quantitative factors of analysis, redefining clear role of risk team , and aligning RM Organization into business expansion

• High Yield Business: Assign dedicated team, set up loan factory, enhanced business process (incl. tools, monitoring & collection system, policy )

• Optimize capital by implementing ERM & VBA

• Consolidate risk management of subsidiaries

High Risk (Rating C- G) Medium Risk (Rating BBB –B)

Low Risk (Rating AAA –A)

51%

64%

68%

_60%

69%

91%

34%

24%

21%

25%

24%

7%

15%

12%

11%

15%

7%

2%

0%

20%

40%

60%

80%

100%

(56)

55 IDR billion / % (Cons)

FY

Q

FY

Y-o-Y



(%)

Gross Loans

_246,201

_297,482

_314,381

27.7%

Government Bonds

_78,093

_78,095

_78,459

0.47%

Total Assets

_449,775

_501,945

_551,892

22.7%

Customer Deposits

_362,212

_376,370

_422,251

16.6%

Total Equity

_42,070

_59,764

_62,654

48.9%

RoA - before tax (p.a.)

_3.40%

_3.50%

_3.38%

RoE

–

after tax (p.a.)

_24.24%

_22,65%

_21.98%

Cost to Income

_{42.36 %}

_39.00%

_41.60%

NIM (p.a.)

_5.28%

_5.14%

_5.11%

LDR

_67.58%

_78.66%

_74.06%

Gross NPL / Total Loans

_2.42%

_2.56%

_2.21%

Provisions / NPLs

_192.36%

_155.47%

_174.17%

Tier 1 CAR

_11.57%

_14.84%

_14.86%

Total CAR

incl Credit & Opr Risk

_13.46%

_16.07%

_15.18%

Total CAR

incl. Market Risk

_13.36%

_16.01%

_15.13%

EPS (Rp)

_439.38

_393.11

_529.33

20.47%

Book Value/Share (Rp)

_2,005

_2,939

_2,708

35.06%

Key Quarterly Balance Sheet Items & Financial

Ratios

(57)

56 Tot

al

Asse

ts

grew

22.7% Y

-o

-Y

to Rp551.9

tn

Tot al Asse ts (Rp tn) Con sol id a ted

176.9

153.5

148.8

122.9

93.1

92.1

92.2

92.3

91.0

90.6

89.5

90.8

89.5

88.6

88.4

88.5

88.3

88.4

88.2

88.4

89.1

86.8

83.5

82.2

78.1

78.2

77.9

78.1

78.5

43.0

48.3

65.4

75.9

106.9

105.1

107.8

108.8

117.7

114.3

116.3

121.7

138.5

135.5

149.6

162.8

174.5

175.2

181.6

188.3

198.5

201.9

218.0

231.9

246.2

251.8

276.7

297.5

314.4

27.0

33.4

60.5

36.1

50.6

64.5

57.6

55.1

54.0

59.2

56.1

59.2

61.2

91.1

75.5

66.7

67.4

95.7

84.1

89.0

89.8

106.9

110.6

100.6

95.3

125.5

136.1

120.3

126.4

159.1

0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 Q4 '00 Q4 '01 Q4 '02 Q4 '03 Q4 '04 Q4 '05 Q1 '06 Q2 '06 Q3 '06 Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 G ove rnme nt B ond s Loa ns O the r Ass e ts 75 .4% 75 .4% 74 .1% 60 .6% 40 .9% 47 .1% 34 .8% 32 .3% 32 .4% 25 .4% 19 .6% 17 .7% 16 .6% 13 .4% 11 .2% 19 .0% 19 .0% 19 .0% 34 .1% 46 .9% 50 .1% 52 .2% 56 .8% 57 .2% 63 .6% 68 .3% 76 .0% 71 .7% 76 .5% 75 .5% 79 .5% In t. fro m B o n d s In t. fro m Loa n s

(58)

57 Additional Factors

Written-off

Loans



Aggregate of Rp32.796 tn (US$ 3.617 bn) in written-off loans as of end-December 2011, with

significant recoveries on-going:



2001:

Rp2.0 tn



2002:

Rp1.1 tn



2003:

Rp1.2 tn



2004:

Rp1.08 tn



2005:

Rp0.818 tn (US$ 83.2 mn)



2006:

Rp3.408 tn (US$ 378.5 mn)*



2007:

Rp1.531 tn (US$ 249.3 mn)



2008:

Rp2.309 tn (US$ 211.8 mn)



Mo

:

Rp1.489 tn (US$ 146.4 mn)



Q

:

Rp0.775 tn (US$ 82.5 mn)



Q

:

Rp0.287 tn (US$ 31.6 mn)



Q

:

Rp0.662 tn (US$ 73.0 mn)



Q

:

Rp0.363 tn (US$ 40.7 mn)**)



Q

:

Rp1.349 tn (US$149.7 mn)



Q

:

Rp0.468 tn (US$53.8 mn)



Q

:

Rp0.446 tn (US$51.9 mn)



Q

:

Rp0.508 tn (US$57.8 mn)



Q

:

Rp0.78 tn (US$86.1 mn)

*

including the write-back of RGMloans totaling Rp2.336 tn

(59)

58 Summary Quarterly Balance Sheet:

Q

– Q

Summary BS

Q

Y-o-Y

Rp (tn) Rp (tn) Rp (tn) Rp (tn) Rp (tn) US$ (bn)# % 

Total Assets

_449.78

466.08

474.93

501.95

551.89

60.86 22.70%

Cash

_9.52

7.42 _8.78

_10.37

11.36

1.25 _19.33%

Current Acc w/ BI & other banks

_33.43

29.73 _29.62

_34.4

45.98

5.07 _37.54%

Placement w/ BI & other banks

29.05

34.03

35.76

40.33

51.54

5.68 77.42%

Securities

_27.49

29.16

18.76

12.77

12.25

1.35 (55.44%)

Government Bonds

78.09

78.2

77.93

78.09

78.46

8.65 0.47%

- Trading

_0.61

0.75

0.84

0.97

1.41

0.16 131.15%

- AFS

_54.05

54.02

53.66

53.74

53.67

5.92 (0.70%)

- HTM

_23.43

23.43

23.38

2.58 (0.21%)

Loans

_246.20

251.78 _276.7

_297.48

314.38

34.67 _27.69%

- Performing Loans

_240.18

245.18 _269.94

_289.81

307.37

33.90 _27.97%

- Non-Performing Loans

6.02

6.6

6.76

7.67

7.01

0.77 16.46%

Allowances

(11.52)

(11.51)

(11.61)

(11.90)

(12.20)

(1.35)

5.90%

Loans

–

Net

_234.68

240.28

265.10

285.58

302.21

33.33 28.78%

Total Deposits

–

Non Bank

_362.21

356.68

362.64

376.37

422.25

46.57 16.58%

- Demand Deposits

_68.37

70.73

70.20

73.44

92.62

10.21 35.46%

- Savings Deposits

_133.59

132.1

139.15

147.62

163.78

18.06 22.60%

- Time Deposits

_160.25

153.85 _153.29

_155.31

165.85

18.29 _3.49%

(1)

86 Measur

es

of s

cal

e and

retur

ns rel

at

ive t

o

peers

Bank Onl

y,

As

of September

2011

39.9% 32.6% 27.9% 22.2% 18.9% 18.3% 17.9% 15.0% 13.1% 10.0% BRI BCA Mandiri CIMB Niaga BNI Danamon Permata BTN Panin BII 1,758 1,603 1,526 1,256 925 835 599 450 346 280 BRI Danamon Mandiri BNI BCA CIMB Niaga BTN Panin BII Permata 10.2% 7.7% 5.9% 5.7% 5.5% 5.5% 5.2% 5.2% 5.1% 4.5% BRI Danamon BNI BCA CIMB Niaga BTN Mandiri BII Permata Panin 42,260 38,228 27,305 20,017 19,914 13,344 8,296 6,341 5,497 5,153 Danamon BRI Mandiri BNI BCA CIMB Niaga BII Permata Panin BTN

Branc

hes

R

et

urn

on

Equit

y

(Af

ter

T

ax

)

(%)

Em

ploy

ees

N

et

I

nt

eres

t

M

argins

(%)

4.7% 3.8% 3.7% 3.2% 3.0% 2.8% 1.9% 1.8% 1.8% 1.3% BRI BCA Mandiri Danamon BNI CIMB Niaga Permata Panin BTN BII

R

et

urn

on

As

s

et

s

(Bef

ore

T

ax

)

(%)

8,993 8,070 6,773 5,767 1,510 1,083 937 743 682 646 Mandiri BCA BRI BNI CIMB Niaga Danamon BII BTN Panin Permata

A

T

M

s

A

v

e

rag

e

(2)

Notes

………..

(3)

Notes

………..

(4)

Notes

………..

(5)

The analysts listed above actively follow Bank Mandiri, but not all have issued research reports or formally initiated coverage.

Equity Research Contact Details

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ANDALAN ARTHA ADVISINDO SEKURITAS A.G. Pahlevi 6221-299-16600 Agpahlevi@aaasecurities.com

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BNP PARIBAS PEREGRINE Tjandra Lienandjaja 6221-2358-4935 Tjandra.Lienandjaja@asia.bnpparibas.com

BARCLAYS CAPITAL Tom Quarmby 852-2903 3053 Tom.Quarmby@barcap.com

CIMB-GK SECURITIES INDONESIA Mulya Chandra 6221-515-1330 Mulya.Chandra@cimb.com

CITI INVESTMENT RESEARCH Salman Ali 6221-5290-8548 Salman1.Ali@citi.com

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GOLDMAN SACHS (ASIA) Vincent Chang 852-2978-6681 Vincent.Chang@gs.com

HSBC LTD Kar Weng Loo 65-6239-0654 Karwengloo@hsbc.com.sg

J.P. MORGAN ASIA Aditya Srinath 6221-5291-8573 Aditya.S.Srinath@jpmorgan.com

KEEFE BRUYETTE & WOODS Sam Hilton 852-3973-8330 Shilton@kbw.com

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MACQUARIE CAPITAL SECURITIES INDONESIA Nicolaos Oentung 6221-515-7308 Nicolaos.Oentung@macquarie.com

MORGAN STANLEY Nick Lord 65-6834-6746 Nick.Lord@morganstanley.com

NOMURA Stephan Hasjim 6221-2991 3347 Stephan.Hasjim@nomura.com

RHB RESEARCH Alexander Chia Hock Lon 603-9280 2175 Alexander.Chia@rhb.com.my

RBS ASIA SECURITIES Trevor Kalcic 65-6518-7997 Trevor.Kalcic@rbs.com

STANDARD CHARTERED BANK Krishna Guha 65-6596-8518 Krishna.Guha@sc.com

UOB Kay Hian Emerentia Rufina Tam 6221-2993 3917 Emerentiatam@uobkayhian.com

(6)