BMRI 1Q14 Analyst Presentation FULL VERSION

(1)

PT Bank Mandiri (Persero) Tbk

1Q 2014

Results Presentation

(2)

Share Information

∆ fro : IPO Dec 31, 2013

BMRI + 1,323.19% +20.38% JCI + 808.78% +11.56%

No. of

Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 14,000,000,000 60.00% 2. Retail 12,500 74.21% 217,000,431 0.93% 3. Employees 2,277 13.52% 41,867,318 0.18% 4. Cooperatives 6 0.04% 2,735,056 0.01% 5. Foundation 25 0.15% 17,037,728 0.07% 6. Pension Funds 181 1.07% 202,693,520 0.87% 7. Insurance 64 0.38% 485,661,436 2.08% 8. Banks - 0.00% - 0.00% 9. Corporations 120 0.71% 244,427,060 1.05% 10. Mutual Funds 180 1.07% 719,592,605 3.08%

Total 15,354 91.15% 15,931,015,154 68.28% II INTERNATIONAL

1. Retail 80 0.47% 1,523,733 0.01% 2. Institutional 1,411 8.38% 7,400,794,446 31.72%

Total 1,491 8.85% 7,402,318,179 31.72%

III TOTAL

No. Description

By 31 March 2014

16,845

(3)

2 Bank Mandiri Presentation Contents

Results Overview Page #



I do esia s E o o i Co ditio 3



1Q 2014 Highlights 4



Key Indicators + Financial Highlights 5-6



SBU Performance Highlights 7



Ba k s Pe fo a e 8-11



Loan Performance 12-14



ROE & NIM 15-16



Fee-Based & CIR 17-18



Wholesale Transactions 19-21



Retail Value Chain 22-26



High-Yield Lending Activities 27-29



NPL Movement 30-33



Subsidiaries 34-37



Targets & Initiatives 38-40

Operating Performance Highlights Supporting Materials

(4)

Early Signs of Economic Condition Improving, Risks Remain

Source: BPS, Bloomberg

Trade balance back to surplus at USD785 mn

I t l ese es i p o ed to U“D

102.6 bn, Mar 2014

3

6

8

10

12

14

16

18

20 Ja

n

-1

0 A

p

r-1

0 Ju

l-1

0 O

ct

-1

0 Ja

n

-1

1 A

p

r-1

1 Ju

l-1

1 O

ct

-1

1 Ja

n

-1

2 A

p

r-1

2 Ju

l-1

2 O

ct

-1

2 Ja

n

-1

3 A

p

r-1

3 Ju

l-1

3 O

ct

-1

3 Ja

n

-1

4 -3

-2

-1

0

1

2

3

4

Trade Balance - RHS Export - LHS

Import - LHS

1

0

2 .6

5.7

60

70

80

90

100

110

120

130 D

e

c-0

9 M

a

r-1

0 Ju

n

-1

0 S

e

p

-1

0 D

e

c-1

0 M

a

r-1

1 Ju

n

-1

1 S

e

p

-1

1 D

e

c-1

1 M

a

r-1

2 Ju

n

-1

2 S

e

p

-1

2 D

e

c-1

2 M

a

r-1

3 Ju

n

-1

3 S

e

p

-1

3 D

e

c-1

3 M

a

r-1

4

5

6

7

8 International Reserve - LHS

Import cover- RHS

(5)

Cash Management

• 13,162 Customers

• 8.0 Mn Tx YTD

2014

(2)

4 Ba k Ma di i e ai s o t a k to e o e I do esia s Most

Admired Financial Institution

Retail Loans

(1)

• Rp 131.9 Tn

• 31.8% of Loans

• High yield loan

amounting Rp 85.6 Tn

Subsidiary Income

• Total Rp 639 Bn

• Sum of income from

6 subsidiaries

(13.0 % of EAT)

Alliances (total)

• Alliance Payroll

Accounts: 1.16 Mn

e-Channel Tx

• 369.7 Mn YTD

• 16.4% Growth

# of Cards Issued

• Credit 3.27 Mn

• Debit 11.59 Mn

• Prepaid 3.65 Mn

(1) Small Business, Micro and Consumers

# of Accounts

• Deposit 14.85 Mn

• Loan 1.39 Mn

including mortgage

account of 172,109

# of new Accounts (YTD)

• Deposit 1.56 Mn

• Loan 172,030

# of Outlets

2,061 Branches

2,463 Micro Outlets

11,514 ATMs

(6)

Con

ti

nuou

s

Imp

ro

vemen

t

of K

e

y Indi

ca

tor

s

10.00%

15.80%

18.01%

22.10%

24.40%

30.70%

24.30%

22.70%

22.00%

21.12%

21.88%

22.18%

22.55%

21.85%

21.09%

21.35%

22.23%

22.17%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

R

e

tu

rn

on

E

q

u

ity

(R

oE

)

Fee

B

ased

R

a

ti

o

C

u

rr

en

t

Acc

oun

t

Sa

vi

ng

Acc

oun

t

(C

AS

A)

N

on

P

erf

or

m

ing

Loan

(N

P

L)

19.60%

20.10%

23.90%

24.40%

29.30%

27.70%

28.10%

29.30%

30.40%

28.10%

29.50%

28.20%

28.40%

28.50%

28.70%

29.40%

29.50%

25.74%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

53.00%

61.60%

56.70%

58.40%

55.80%

54.00%

57.70%

58.70%

60.70%

60.60%

62.30%

63.00%

65.50%

62.10%

63.60%

64.30%

64.70%

62.96%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

16.30%

7.20%

4.73%

2.79%

2.42%

2.60%

2.42%

2.56%

2.21%

2.22%

2.07%

2.04%

1.87%

2.08%

1.89%

1.90%

2.07%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

5

(7)

Key Financial Highlights

Ba k Ma di i s Q

Pe fo

a e de o st ated a ked i p o e e ts

across several key indicators:

Q



%

Loans

Rp391.6tn

Rp470.4tn

20.1%

Net NPL Ratio

Gross NPL Ratio

0.57%

2.08%

0.67%

2.07%

17.5%

(0.5%)

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

62.1%

Rp290.2tn

63.0%

Rp334.7tn

1.3%

15.3%

NIM

5.38%

5.75%

6.9%

Efficiency Ratio

41.1%

41.8%

1.8%

(8)

Balanced Earnings from All Business Units

19.82%

16.26%

32.06%

17.39%

4.35%

5.30%

29.01%

54.90%

14.76%

6.16%

6.69%

8.91%

14.51%

10.81%

32.26%

33.36%

37.13%

36.88%

9.40%

10.04% NII (Net Interest Income)

(Rp bn) % of Total

Fee Income

(Rp bn) % of Total

Asset Spread

(Rp bn) % of Total

Liabilities Spread (Rp bn)

1,192

1,928

262

1,745

888 1,293

1,383

421

4,367

490

Corporate + Institutional

Comm & Business Banking

Treasury, FI & SAM*

Micro & Retail

Consumer Finance

Q1 '12 Q1 '14

950

1,756

186

669

885 792

1,227

375

845

480

Q1 '12 Q1 '14

242

173

1,076

4 501

156

3,522

Q1 '12 Q1 '14

21.37%

21.30%

39.48%

33.00%

4.19%

10.07%

15.05%

22.72%

19.90%

12.91%

178

386

858

987

250 1,082

325

660

1,109

302

Q1 '12 Q1 '14

7

*Rp 343Bn from SAM recoveries on W/O loans

(9)

82.8 88.8 93.7 97

97.1 102.9 108.8 121.9 119

126

135.4 151.8 150

159.9 166.2 186.9 179.9 189.8 198.8

214

201.9

8.2 8.38.7 9.7 9.9

10.811.611.612.312.7 12.212.013.4 13.614.0 15.315.816.819.0 20.7 22.1

44.5 47.3 45

53.9 47.8 50.3 39.9

46.2 45.3 47

49.4

67.3 75.0 59.0 63_.0

77 .9 61.2 74.6 63 .9 73.4 67.2 20.318.321.1 18.822.023.122.9 22.225.422.324.0 25.328.228.028.5 36.1 33.338.5 49.2 51.1 43.5 99.6 105.7

109.3 108.4 124

.4 127 .8 127.0 147.8 143 .5 140.8 140.0

148.1 120.8 137.5 138.9

150 .7 152.8 153.7 155.2 176.2 176 .9 16.718.7 17.115.1 11.811.711.1 12.510.312.415.3 17.8 15.620.3 20.4 16.1 24.0 29.028.2 20.1 20.0 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500 520 540 560 1Q '09 2 Q' 09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1 Q' 11 2Q '11 3Q '11 4Q '11 1Q '12 2 Q' 12 3 Q' 12 4Q '12 1Q '13 2 Q' 13 3Q '13 4Q '13 1Q '14

FX Time Rp Time

FX Demand Rp Demand FX Savings Rp Savings

64.1 65

68.8 69.8 74.5 80.7 84

85.1 96

103.2 106.2 113.0 119

123.2 126.3 124.7 124.3 130.9 138.8 131.8

4.4 4.4 4.2 4.50.2 0.4

1.3 1.4 1.61.5

1.7 1.41.3 1.5

1.6 1.8 1.6 1.51.72.0 2.3

40.6 41

43.6 49

49.1 53.1 57.5

63.8 64.7 70.1

74.7 80.7 82_.5

93.3 102

102.0 104.2 111.0

116

116.3

19.7 20

21.7 23.6 24.7 26.7 28.6

34.3 36_.3 39.0 40.7

43.3 44

47.7

49.3 _52.4 55.2 56.6 _57.4 14.115.516.3 17.117.7 19.3 20.522.723.3 25.8 27.630.2 30.9 33.135.0 38.4 38.4 42.5 43.7 46.5 46.3

4.6 4.85.1 5.4 5.6 6.06.5 7.3 7.7 8.5 9.5 11.813.1 15.116.8 19.0 20.7 23.9 24.927.028.2 12.611.511.2 10.39.7 9.18.6 7.8 6.7 6.1 6.1 4.64.8 4.84.9

4.0 3.93.9

4.24.2 3.9 22.6 24.3 25.0 29.0* 16.817.117.6 18.820.4 22.724.6 27.230.3 34.2 38.4 40.540.9 43.6 46.0 48.950.9 53.5 54.9 55.5 55.3 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 1Q '09 2 Q' 09 3 Q' 09 4Q '09 1 Q' 10 2Q '10 3Q '10 4Q '10 1 Q' 11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2 Q' 13 3 Q' 13 4Q '13 1 Q' 14 Subsidiaries Inst SAM Micro

Small Cons

Comm Int'l

Corp

Maintaining momentum for growth

Y-o-Y  (16.6%) 15.7% 30.6% 9.8% 12.2% Y-o-Y  36.4% 20.4% 16.3%

Loans by SBU + Subsidiaries

(Rp Tn)

14.0%

5.7%

Deposits by Product –

Consolidated

(Rp Tn)

*Previously booked in Corporate Banking

**Loans from Treasury & International have been reallocated to Corporate following 45.6%** 40.1% 20.1% 470.4tn Total Total 467.0tn 531.6tn 13.8% (1.4%) 8.5% 391.6tn

(10)

 Total Wholesales Fees Rp1.1Tn1)

 Total Wholesale Low Cost Deposits Rp77.3Tn

 Growth of Tx cash management 58.5% YoY2)

 Total Retail Fees of Rp1.5 Tn1)

 Total Retail Low Cost Funds Rp241.8Tn

 YoY increase in # of E-channel transaction: 16.4%

 Total Retail Loans of Rp131.9 Tn

 Assets Spread Rp1.8 Tn

 31.8% of total loans

Pillar 1

Pillar 2

Pillar 3

1) Fee-Based Provision, Commission & Fee 2) Excluding Mandiri Transaction System

Good Progress On Our 3 Strategic Priorities:

Wholesale Transactions, Retail Payments & High Yield Loans

9 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

(11)

Strong and liquid balance sheet

Assets *

1Q 2014

1Q 2013

Liabilities

1Q 2014

1Q 2013

Cash

14,501

11,681

Current Account

110,738

94,524

Current Acc w/ BI & Other Banks

60,149

63,157

Savings

223,970

195,665

Placement w/ BI & Other banks

33,183

38,959

Time Deposits

196,903

176,827

Advances (Other)

21,340

14,761

Marketable Securities

30,945

14,003

Total Deposits

531,611

467,017

Government Bonds

90,649

79,234

Loans (Gross)

470,423

391,641

Securities Issued

1,773

1,504

Provisions of Loans

(16,630)

(14,459)

Deposits from other banks

24,535

28,942

Net Loans

453,793

377,182

Borrowings

15,125

11,786

Reverse Repo

778 7,888

Other Int. Bearing

Liabilities

11,786

9,134

Other Provisions

(2,015)

(1,641)

Non Int. Bearing Liabilities

55,613

41,181

Deferred Tax Assets

3,755

3,542

Equity incl. Minority

Interest

89,041

81,034

Other Assets

22,405

31,832

Total

729,483

640,599 Total

729,483

640,599

(12)

Solid Revenue Growth

11 Summary P&L

Q1 2014

_{(Rp Bn)}

Q4 2013

_{(Rp Bn)}

Q1 2013

_{(Rp Bn)}

Y-o-Y

_{∆ ℅}

Q-o-Q

_{∆ ℅}

Interest Income

14,313

14,411

11,402

25.5%

(0.7%)

Interest Expense

5,333

5,052

3,946

35.1%

5.6%

Net Interest Income

8,980

9,359

7,455

20.5%

(4.0%)

Net Premium Income

584

605

610 (4.3%)

(3.4%)

Net Interest Income & Premium Income

9,564

9,963

8,066

18.6%

(4.0%)

Other Non Interest Income

* Other Fees and Commissions

2,130

2,606

1,861

14.4%

(18.3%)

* Foreign Exchange Gains - Net

404

347

226 78.9%

16.5%

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

158 (3)

46 244.7%

n/a

* Others

835 1,226

1,140

(26.7%)

(31.8%)

Total Non Interest Income

3,528

4,176

3,273

7.8%

(15.5%)

Total Operating Income

13,092

14,140

11,339

15.5%

(7.4%)

Provisions, Net

(1,217)

(851)

(1,089)

11.8%

43.0%

Personnel Expenses

(2,626)

(2,374)

(2,042)

28.6%

10.6%

G&A Expenses

(2,309)

(3,167)

(2,034)

13.5%

(27.1%)

Loss from decr. in value of Sec & Gov Bonds

-

n/a

Other Expenses

(476)

(767)

(566)

(16.0%)

(38.0%)

Total Expense

(5,411)

6,309)

(4,642)

16.6%

(14.2%)

Profit from Operations

6,463

6,979

5,608

15.3%

(7.4%)

Non Operating Income

(4)

334

42 (110.5%)

(101.3%)

Net Income Before Tax

6,459

7,313

5,650

14.3%

(11.7%)

(13)

LDR increased to 88.0%, Bank-only loan growth of 21.9%

175.2 181

188.3 198.5 201.9 218.0 231.9 246.2 251.8 276.7 297

314

327.2 350

365.2 388.8 391.6 428

450.8 472.4 470.4

63.2% 62.2% 62.8% 61.4% 64.1% 66.3% 71.7% 67.6% 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 80.1% 83.5% 85.0% 87.3% 84.5% 88.0% 1 Q '09 2 Q '09 3Q '09 4 Q '09 1Q '10 2Q '10 3Q '10 4 Q' 10 1Q' 11 2Q' 11 3Q' 11 4Q' 11 1Q' 12 2Q' 12 3Q' 12 4Q' 12 1 Q' 13 2 Q' 13 3Q' 13 4 Q' 13 1Q' 14

Loans (Rp tn) LDR (%)

1.4%3.7%3.7% 5.5%

1.7%7.9% 6.4% 6.2% 2.3% 9.9% 7.5% 5.7% 4.1% 7.1% 4.2% 6.5% 0.7% 9.5% 5.1% 4.8% -0.4% 30.5% 21.4% 15.7% 13.8% 15.3% 20.0% 23.2% 24.0% 24.7% 26.9% 28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7% 22.3% 23.4% 21.5% 20.1% 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2 Q '10 3 Q '10 4Q '10 1 Q' 11 2Q '11 3Q '11 4Q '11 1 Q' 12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(Consolidated)

78.8 79

82.0 82.7 82.9 88.7 92.8 93

.6 92.5 103 .1 1 1 0 .4 111 .7 118. 6 125. 2 129 .3 131. 7 129. 9 151. 9 153. 5 169. 7 166. 7

42.6 43.6 45

50.6 50

.4 _54.2 58

64.7 64.5

.7 _75.3 81

.1 _82.9 90.1 93.6

1 0 3 .0 102. 3 104. 4 118 .2 _117. 1 116 .5 14.415.816.6 17.418.019.7 20.722.824.5 25.9 27.730.3 30.9 33.235.138.5 38.5 42.5 44.1 46.5 46.3

4.6 4.8 5.1

5.4 5.6 6.0

6.5 7.3 7.7 8.5 9.511.8 13.1 15.116.8 19.020.7 23.9 24.9 27.0 28.2 19.720.621.7 23.624.8 26.728.6 30.732.4 34.3 36.3 39.040.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 1 Q' 09 2 Q' 0 9 3 Q' 09 4 Q' 0 9 1 Q' 1 0 2 Q' 10 3 Q' 1 0 4 Q' 1 0 1 Q' 1 1 2 Q' 1 1 3 Q' 1 1 4 Q' 1 1 1 Q' 1 2 2 Q' 1 2 3 Q' 12 4 Q' 1 2 1 Q' 13 2 Q' 1 3 3 Q' 13 4 Q' 1 3 1 Q' 1 4

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  16.3% 36.4% 20.3% 13.9% 28.4% 21.9% Total 13.8% 6.8% 11.1% 28.1% 40.2% Break down

(14)

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 41 .88 45 .47 45 .73 49 .62 48 .17 53 .29 59 .79 67 .75 62 .22 104.5% 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% 76.0% 76.2% 75.4% 76.4% 68.0% 65.1% 64.3% 69.0% 72.0% 50% 60% 70% 80% 90% 100% 110% 120% Ma r 0 8 Sep 0 8 Ma r 0 9 Sep 0 9 Ma r 10 Sep 1 0 Ma r 11 Sep 1 1 Ma r 12 Sep 1 2 Ma r 1 3 Sep 13 Ma r 1 4 20 25 30 35 40 45 50 55 60 65 70

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Billion

Rp Trillion (Bank Only)

Breakdown of FX lending (Bank Only)

Q

(Total USD 5.477 Bn)

0.01 0.13 0.20 0.24 0.29 0.31 0.34 0.65 0.76 1.23 1.31

Soc Serv

Constr

Utilities

Bus Serv

Trans

Oth

Agri

Trading

Mining

Oil & Gas

Mfg

% (YoY)

6%

-3%

29%

28%

-8%

267%

1%

-5%

-16%

31%

-45%

FX Loans & LDR

(15)

416.98

62.81

24.97

28.64

5.98 _4.51

0.56

415.15

4Q'13 Disburs. Install. Payment Pay-off FX Impact

Write-Offs

1Q '14

33.29

15.09

4.96

5.73

3.74

62.81

Corporate Commercial Small Micro Cons Fin Total

Rp62.81 tn in loans disbursed in 1Q 2014

(16)

42.6 58

.5 _91.9 108.9 115.9 112.2

134.0

172

5.8

242

352

400.2

491.3 492.5

15.4 17

27.5 27.4 28.4 28.3 27

35.7 53

73.9 79.6

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

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% 15.4% 13.4%

15.3% 15.5%

14.9% 16.2%

CAR*

308 1,168 1,549

1,744

519 510 1,027 1,390 1,400

2,003

2,681 3,403 4,303

4,925 1,300

602 690

1,329

97 305

1,113 1,221 1,526

2,031

2,543 3,744 3,991

967 1,017

1,528 1,408

610 372 1,040

1,345 1,693

2,352 2,850

3,972 4,509

645 799 819

775

(623) 1,234

1,166 1,390

2,536 2,833

3,073 4,385

5,401

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Q4 PAT Q3 PAT Q2 PAT Q1 PAT IDR bn

22.2% ROE, supported by a strong capital position

Bank Only - 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%24.2% 22.0%

22.6% 22.2%

22.2% RoE - AT

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

• CAR inclusive of Credit, Market and Operational Risk started in January 2010

• CAR under BASEL III in December 2013 was 16.7%

15

1,099*

(17)

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% 5

.2

%

5 .5

%

5 .8

%

5.7% 5.5%

5 .3

%

5 .7

%

6.1% 5.9%

4 Q '03 4 Q '04 4Q '05 4Q '06 4Q '07 1Q '08 2Q '08 3 Q '08 4 Q '08 1 Q '09 2Q '09 3Q '09 4Q '09 1 Q '10 2Q '10 3Q '10 4 Q '10 1 Q '11 2Q '11 3Q '11 4Q '11

1Q'12 2Q'12 3_Q'

12 4 Q' 12 1 Q' 13 2Q'13 3Q' 13

4Q'13 1_Q'

NIM

9.5% 10.7% 9.3% 10.1% 10.7% 9.4% 9.6% 8.7% 8.7% 8.7% 8.2% 8.1% 8.4% 8.2% 8.1% 7.8% 8.3% 9.0% 9.0% 6.3% 4.8% 7.3% 6.4% 4.5% 3.8% 5.3% 4.9% 4.3% 3.9% 3.8% 3.4% 3.2% 2.8% 2.7% 2.7% 2.8% 2.6% 2.8%3.1% 3.3%

Yield on Assets Cost of Funds

1Q NIM of 5.9% as Yield on Assets Rises 01bps

Quarterly Net Interest Margins

_{Quarterly Yields & Costs by Currency}

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%4.8%5.4% 5.0% 4.9% 4.8% 4.5% 5.1% 4.4% 4.0% 3.5% 3.4% _2.7% 2.6%3.0% 2.7% 2.3% 2.1%

1.5%_0.7%0.8% 0.8% 0.7% 0.5% 0.3% 0.5% 0.6% _0.6% 0.6% 0.7% 0.7% 0.7% 0.6% 0.7% 0.8% 0% 5% 4Q '06 4Q '07 1 Q '08 2Q '08 3Q '08 4 Q '08 1 Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2 Q '10 3 Q '10 4 Q' 10

1Q'11 2Q'11 3Q'11 4Q'11 1_Q'

2Q'12 3Q'12 4_Q'

2Q'13 3Q'13 4Q'13 1Q'14

12.0% 11.2%11.1%

13.2%12.9% 12.9% 12.8% 12.6% 12.2%13.1% 12.7% 12.5% 11.8% 12.1% 11.9% 12.5% 11.4% 11.6% 11.8% 11.3% 11.2% 10.8% 11.1% 11.8% 11.8%

7.7%7.9% 9.2% 10.3% 10.6% 8.5% 7.2% 6.7% 6.8% 7.3% 6.5% 5.9% 4.1% 3.9% 3.3% 3.4% 3.9%

4.7%5.3% 5.4% 4.6% 4.5% 4.0% 4.6% 5.8%5.9% 5.3% 5.1% 4.4% 4.4% 4.3% 4.2% 4.3% 3.7%

3.0% 3.0% 3.0% 3.3% 3.7% 3.9% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

IDR

(18)

…i to Fee

-based Income

Breakdown of 1Q 2014 Non-Loan Related Fees & Commissions (Rp Bn)

17 Non-Loan Related Fees & Commissions

1Q-2014

4Q-2013

1Q-2013

Y-o-Y

Q-o-Q

Δ

%

Δ

%

Administration Fees

644

863

519 24.2%

(25.4%)

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

230

236

173 33.0%

(2.4%

Subsidiaries

379

419

389 (2.4%)

(9.5%)

Transfer, Retail Transaction

334

426

286 16.9%

(21.6%)

Credit Cards

291

297

265 10.0%

(2.1%)

Mutual Fund, ORI & Bancassurance

86

99

77 10.9%

(13.2%)

Syndications

24

31

13 87.9%

(22.1%)

Payroll Package

17

19

15 13.5%

(7.3%)

Others

132

216

124 5.8%

(38.8%)

Total

2,130

2,606

1,861

14.9%

(18.1%)

Foreign Exchange Gains

404

347

226 78.9%

16.5%

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

158 (3)

46 244.7%

n/a

Cash Recoveries

526

842

904 (41.8%)

(37.5%)

Total Operating Income

13,092

14,140

11,338

15.5%

(7.4%)

(19)

827 1,0₀₄ 1,1₁₀ 1,384 1,051 1,265 1,4₅₉ 1,6₈₂ 1,5₂₄ 1,5₁₀ ,883 1 2,107 1,6₁₄ 2,0₀₄ 2,071 ₆₅2,5 2,0₃₄ 2,3₂₂ 2,3₇₅ 3,167 2,309

,116

1,3

1,0

1,3

28 1,3

,375

,485

1,6

12 1,5

,631

1,6

1,9

1,8

1,9

,869

,372

,042

2,3

2,6

2,3

2,6

'09

'10

4Q'10 1Q'

1Q'12 2Q'12 3Q'12 4Q'12 1_Q'

3Q'

4Q'13 1_Q'

G&A Expenses Personnel Expenses

35.1% 42.8%

39.3% 43.2%

39.0% 38.4%

38.1% 45.1%

32.4%

37.3%39.0%

41.6% 44.0%

43.2% 42.7%

51.3%

41.1% 43.1%

42.5% 44.6%

41.8% CIR (%)

Q1 Cost to Income Ratio of 41.8 %

Breakdown of 1Q 2014 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

Q1 2014 Q4 2013 Q1 2013

Growth (%)

QoQ YoY

Personnel Expenses

Base Salary 688 623 529 10.5% 30.0%

Other Allowances 1,234 1,149 948 7.4% 30.1%

Post Empl. Benefits 100 18 80 451.4% N/A

Training 78 122 64 (35.9%) 22.1%

Subsidiaries 527 463 421 13.8% 25.2%

Total Personnel Expenses 2,626 2,374 2,042 10.6% 28.6%

G&A Expenses

IT & telecoms 330 329 276 0.2% 19.4%

Occupancy Related 444 716 412 (37.9%) 7.7%

Promo & Sponsor 206 417 202 (50.5%) 2.4%

Transport & Travel 125 199 116 (37.0%) 7.7%

Goods, Prof. Svcs. & Oth. 311 481 264 (35.2%) 18.1%

Employee Related 365 410 289 (11.1%) 26.0%

Subsidiaries 527 616 474 (14.5%) 11.2%

Total G&A Expenses 2,309 3,167 2,034 (27.1%) 13.5%

Other Expenses 476 767 566 (38.0%) (15.9%)

(20)

Breakdown of Net Expansion in Corporate Lending

Q

– Q

Total ‘p . t

Rp Billion

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

926 1,106 1,424

1,723 1,881 1,923 1,997 2,757 3,204 3,322 3,541 3,680 3,798

Trad-Exp Trad-Distr Trad-Ret Mfg-Metal Comm Mining-Oil & Gas Others Mining-Metal Ore Bus Serv Constr Mfg-Chem Electricity Plantations

%

12.14% 11.76% 11.32% 10.62% 10.24% 8.81% 6.38% 6.15% 6.01% 5.51% 4.55% 3.54% 2.96% Rp Billion

Breakdown of Net Expansion in Commercial Lending

Q

– Q

Total ‘p . t

392 592 676 768 778 793 807 1,238 1,780 2,023 2,165 3,179 4,238

Others Trad-Imp Mfg-F&B Mfg-Text Constr Mining-Oil & Gas Mass Trans Mfg-Oth Mfg-Chem Mfg-Metal Mfg-RawM Bus Serv Trad-Distr

%

21.81% 16.36% 11.14% 10.41% 9.16% 6.37% 4.16% 4.08% 4.01% 3.95% 3.48% 3.05% 2.02%

(21)

Wholesale Transactions driving CASA higher

745 2,414

4,066 6,153

7,784 10,943

11,899

12,11212,366 12,652

12,932 13,162

2006 2007 2008 2009 2010 2011 2012 1Q13 2Q13 3

4Q13 1Q14

Cash Management Users

Wholesale CASA Deposits

,05

,257

,69

,60

,11

,95

,334

,91

,31

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

2007 2008 2009 2010 2011 2012 2013 1_Q

2013

1Q201

Total CASA (IDR Billion)

248 479 716 685 677 771 1,1₃₀ 1,1₇₅ ₇₈1,1 1,676 2,1₄₈ 2,1₆₁ 2,2₀₁ 2,657

2Q11 3

4Q11 1Q12 2

3Q12 4Q12 1Q13 2Q13 3

4Q13 1Q14

Average # of Cash Management Tx

(000), total 7.9 Mn transaction in

1Q2014

*) _{Exclude Mandiri Transaction System}

58.5% YoY Growth 7.5% YoY

(22)

Growing Volume in Wholesale Transaction Business

Forex

34 42 63 61 13 16

281,153 310,512

322,795

399,500

111,728 115,460

-50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

-10.0 20.0 30.0 40.0 50.0 60.0 70.0

Dec 10 Dec 11 Dec 12 Dec 13 1Q'13 1Q'14

Value (USD Billion) # of Trx

Wholesale Remittance

70 94 121 135 32 34

435,866 448,219

599,909 651,241

157,471 168,877

-100,000 200,000 300,000 400,000 500,000 600,000 700,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

Dec 10 Dec 11 Dec 12 Dec 13 1Q'13 1Q'14

Value (USD Million) # of Trx

21 Mandiri Cash Management*

549 818 1,519 2,231 488 635

2,503

7,668

13,676

24,543

5,027

7,970

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

-500.0 1,000.0 1,500.0 2,000.0 2,500.0

Dec 10 Dec 11 Dec 12 Dec 13 Mar 13 Mar 14

Value (IDR Trillion) # of Trx (000)

Trade Transaction : Export, Import, Domestic

*) _{Exclude Mandiri Transaction System}

85 110 125 133 31 33

495,813 510,916 517,251

520,948

130,571 117,125

-100,000 200,000 300,000 400,000 500,000 600,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0

Dec 10 Dec 11 Dec 12 Dec 13 Q1 13 Q1 14

(23)

Retail Deposit rose by 24.5% Y-o-Y

Retail Deposit Analysis

–

Bank Only

2.5% 2.8% 4.2%

3.4% 3.3%

3.1% 2.5%_{2.3% 2.4%}2.8%

2.0% 2.2% 2.0%2.0% 3.2%

3.0% 3.3%

2.5% 2.6%

2.1% 2.2% 2.4% 1.8%

1.5% 1.6% 1.5% 1.6% 1.5% 1.5% 1.6% 6.8% 6.3% 9.3% 9.5% 8.7% 7.2% 6.5% 6.9% 6.3% 6.5% 6.5% 5.7% 5.0% 4.9% 5.10% 4.90% 5.0% 5.5% 6.6% 7.0% 0% 5% 10% 15%

Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

2.4%

1.6% 1.8%

0.9% 0.9%

0.1% _0.1% 0.1%0.3%0.3%0.2%

0.2% 0.3% 0.3%0.3%

2.6% 2.9%2.8% 3.7% 3.9%

3.0%

1.9%

0.3% 0.5%0.5% 0.4% 0.8%0.8% 0.7% 0.7% 0.5% 0.6% 0.8% 0.8%1.2% 0% 2% 4% 1Q '08 2 Q '08 3Q '08 4Q '08 1 Q '09 2 Q '09 3Q '09 4 Q '09 1 Q '10 2Q '10 3Q '10 4 Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2 Q' 12 3Q '12 4Q '12 1 Q' 13 2 Q' 13 3Q '13 4 Q' 13 1 Q' 14

FX DD FX TD 63.5% 62.3% 61.4% 60.4% 62.5% 64.7% 63.4% 63.8% 66.1% 63.3% 63.8% 64.9% 66.1% 66.5% 69.6% 70.1% 72.5% 71.6% 73.0% 73.7% 71.9% CASA as % of total deposits

78.8 ₇₄

80.4 _75.9 81

86.3 95 .5 88_.2 93.4

98.5 109

107.3 11

2.7

120.4 134.0 132

140.6 146

165.0 _157.5 166

176.3 190

179

5.1 6.2 5.16.1 6.8 6.9

7.48.19.310.2

11.011.011.711.9 11.5 11.312.712.8 13.0 13.7 14.715.6 18.4 20.7 21.0

4.45.1 5.3 6.8 5.66.1

8.09.48.28.8

9.111.110.511.9 12.2 15.714.615.4 16.1 18.6 17.016.7 28.6 33.0 29.7 1.41.4

1.81.72.32.5

2.42.7 2.7 2.73.3

3.2 3.53.5 4.1 4.2 4.34.3 10.7 11.4 12.1 44.442.050.6 63.462.965.1 68.768.571.870.6 68.7 70.569.068.6 70.8 73.171.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4

5.0 5.1 5.4

7.7 7.47.4

7.56.8 6.0 5.7 5.8

5.8 5.3 5.2 5.2

5.3 5.05.0 5.1 5.0 4.74.6 6.4 7.0 6.3 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 1 Q '08 2Q '08 3 Q '08 4 Q '08 1Q '09 2Q '09 3 Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4 Q' 10 1Q '11 2 Q' 11 3Q '11 4Q '11 1 Q' 12 2Q '12 3 Q' 12 4 Q' 12 1Q '13 2Q '13 3 Q' 13 4Q '13 1Q '14

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

(24)

…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 122.9 142.0 141.9 148.1 168.1 186.2 189.4 204.0 226.6 218.1 222.3 232.9 236.3 231.3 42.3

38.6 41.7 40.8

43.0 40.7

44.7 45.3

39.1 45.4 43.8

7.9 11.615.015.4 21.3 25.4 26.2 27.3 34.5 30.833.0 49.0 57.4

8.316.5 26.6 31.8 49.7 68.5 77.8 84.7 85.3 66.7 66.8 76.7 75.5 85.3 81.0 0 25 50 75 100 125 150 175 200 225 250 Q 1 '09 Q2 '09 Q3 '09 Q4 '09 Q 1 '10 Q2 '10 Q 3 '10 Q4 '10 Q 1 ' 11 Q2' 11 Q3 '11 Q 4 '11 Q1' 12 Q 2 '12 Q3 '12 Q4 '12 Q 1 '13 Q2 '13 Q3 '13 Q4 '13 Q 1 '14 ATM Branch SMS Banking Internet Banking 77.1 95.5 97.1 107.5 130.8 147.7 153.8 159.9 170.0 177.3 179.3 184.1 191.2 197.0 192.6

1.4 2.1 2.62.9 5.0 8.8 5.5 5.5 8.3 9.2 10.514.9 17.6 4.8 7.1 8.7

11.716.3 21.523.5 25.6 26.8 28.7 29.432.2 33.3 36.0 33.3 0 20 40 60 80 100 120 140 160 180 200 Q1 '09 Q2 '09 Q 3 '09 Q4 '09 Q 1 '10 Q2 '10 Q3 '10 Q 4 '10 Q1' 11 Q2' 11 Q3 '11 Q 4 '11 Q1' 12 Q2 '12 Q 3 '12 Q 4 '12 Q1 '13 Q2 '13 Q 3 '13 Q4 '13 Q 1 '14 ATM SMS Banking Internet Banking 9.95 7.20 7.67 8.068.35 8.72 8.17 8.96 9.24 9.65 9.99 _10.16 10.57 _10.89 11.10 11.39 11.59 2.16 3.17 4.21 4.614.61 5.08 5.29 5.47 5.63 5.74 5.80 5.97 6.09 6.21 6.33 1.111.21 0.921.011.03 1.16 1.21 1.26 1.31 1.36 1.39 1.46 1.51 1.56 1.62 0 2 4 6 8 10 12 Q1 '09 Q 2 '09 * Q 3 '09 Q4 '09 Q1 '10 Q 2 '10 Q3' 10 Q 4 '10 Q1' 11 Q2' 11 Q 3 '11 Q4' 11 Q1' 12 Q 2 '12 Q3 '12 Q4 '12 Q1 '13 Q 2 '13 Q 3 '13 Q4 '13 Q1 '14 Debit Cards SMS Banking Internet Banking

23

(25)

Retail Payment system gaining Traction

Fee Income from e-channel Tx (Bn)

23,690

27,61133,732 47,127

92,903 180,532

230,352 240,468

2007 2008 2009 2010 2011 2012 2013 Q1

Numbers of EDC

52.1 89.4 126.2

200.3 258.2

315.2 347.6 414.7

65.5 98.5

166.6 196.5

285.7 318.6

382.0

81.9 110.5

194.5 249.3

313.9 361.8

437.5

89.0 117.8

223.7 268.5

312.8 464.4

512.9

2007 2008 2009 2010 2011 2012 2013 2014

Q4 Q3 Q2 Q1

19.3% YoY Growth

Volume Mandiri Business

Saving Account (Tn)

3.5 4.8 8.0

17.7 34.7

59.4 85.8

56.3 79.9

2007 2008 2009 2010 2011 2012 2013 Q1

2013

2014

41.9% YoY Growth

(26)

Consistent Deepening of Retail Payment Business

B

ran

ch

A

TM

ED

C

Use

Pr

epa

id

Strategy

Innovation of Our Strength



Expand and enhance existing channel



Develop innovative retail payment solutions



Develop integrated channel and marketing

strategies

Development of e-Money

(Gelang e-Money) using NFC technology

E-Cash

Drive transaction accountless

Mandiri Internet Bisnis

Offer retail payment solutions for top retail value chain industry

25

san

g. Us

lli

g. Us

lli

2,800

11,514

2006 Q1 2014

924

2,061

2006 Q1 2014

17.7

240.5

2006 Q1 2014

1.01

1.62

2010 Q1 2014

4.62 6.33

2010 Q1 2014

0.30

3.65

(27)

Making Inroads into SME and Retail Payments

# SME Business w/ Mandiri Acc

# MTB Transaction & Volume

Fiesta Point Program

A program to get points based on savings average balance and #of transactions through e-channel or branch, so that the Customer has the opportunity to earn immediate prizes.

Mandiri Belanja Untung Program

Prizes for buyers who do the transactions in the merchant (as a participants), or using Mandiri EDC. For sellers, they have the opportunity to be included to the national lucky draw.

Belanja Hoki/ Dagang Hoki Program

Co-promotion with the ITC Group for the merchant and the buyers who transact in ITC by using Mandiri Debit and also a reward program for the building management.

# MIB Transactions & Users

1,7

,581 1,268 48,946

59,573

70,953

84,935

102,829

-25,000 50,000 75,000 100,000 125,000

-500 1,000 1,500 2,000

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 # of Transactions # of Active Users

543,972

643,334

706,304

2012 2013 2014

,699

,82

9,235

10,601 11,385

12,616 12,773

-3,000 6,000 9,000 12,000 15,000

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

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 # of Volume # of Transactions (000)

(28)

6

0 ,6

7

6

63 ,323

6 ,8

5

1

7

3 ,3

2

4

81 ,046

84 ,675

91 ,504

96 ,268

10 5,1

92

10 8,4

34

11 8,7

88

12 3,8

33

13 0,1

58

131 ,857

27.7% 28.6%

27.6%

28.3%29.6% 29.6%

29.8% 30.2%

30.9% 31.8%

31.7% 31.3%

31.2%31.8%

20% 22% 24% 26% 28% 30% 32%

30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000

4Q 20

1Q 20

2011

3Q 20

4Q 20

2012

1Q 20

2Q 20

3Q 20

4Q 20

1Q 20

Retail to Total Loans

Buildi g ou high ield usi ess i Mi o & “ all…

Retail to Total Loans

Micro Credit Business Banking Consumer Finance

27

(Rp Bn) Micro Credit

20,677

28,205 7,528

Q1 2013 Growth Q1 2014

YoY 36.4%

(Rp Bn)

49,320 57,371

8,051

Q1 2013 Growth Q1 2014

YoY 16.3%

Consumer Finance

(Rp Bn)

38,437 46,281

7,844

Q1 2013 Growth Q1 2014

YoY 20.4%

(29)

Strong Microfinance Growth

200 300 502

687 697 600

800 800

878 928

1,027 1,028

152 480

710 760

751 738

2008 2009 2010 2011 2012 2013 1Q '14 Branch Unit Kiosk

271 430

562 694

815

889 910

2008 2009 2010 2011 2012 2013 1Q '14

Customers (000)

Network

# Of New Customers

,566

,50

,32

,855

,03

0,0

1,0

146

,359

6,5

0,0

64 13

1,7

147

,825

138

,747

0,6

136

,196

2,1

140

,886

1Q '10

2Q '10

3Q '10

4Q '10

1Q '11

2Q '11

3Q '11

4Q '11

1Q '12

2Q '12

3Q '12

4Q '12

1Q '13

2Q '13

3Q '13

4Q '13

1Q '14

(30)

13, 500 14 ,268 15 ,52 3 16 ,466 17, 779 18, 764 20, 113 20 ,919 22 ,81 8 24, 092 26, 135 27

,357 26,995 26,690

,957 3,964

3, 97 9 3 ,949 3, 887 3 ,777 3, 679 3, 571 3, 47 1 3 ,365 3, 312 3,

240 3,₁₈₁ 3_,172

,374 6,398

6 ,708 6, 861 6, 995 7 ,143 7, 412 7 ,753 8, 20 6 8, 386 8, 958 9

,374 9,781 10,₀₃₀

3,589 3,575

3,7613,910

4,2964,245

4,4924,590

5,0355,025

5,1955,303 5,620 5,557

2,826 3,454

3,492 4,200

5,115 5,829

6,593 6,609

7,209 7,486 7,905

9,013 10,218 11,083

447 698 791

873

928 964

1,016 1,037 1,010

966 927

904

809 840

0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 27,500 30,000 32,500 35,000 37,500 40,000 42,500 45,000 47,500 50,000 52,500 55,000 57,500 60,000 4 Q '1 0 1 Q '11 2 Q '1 1 3 Q '1 1 4 Q '11 1 Q '1 2 2 Q '12 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '13 3 Q '1 3 4 Q '1 3 1 Q '1 4 Other Auto

Credit Cards Payroll Loans Home Equity Loans Mortgages

…as ell as Co su e le di g, hi h ose

16.3%

Y-o-Y as Auto Lending Remains Strong

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

(13.09%)

3.77%

Auto Loans*

48.04%

8.46%

Credit Cards

10.59%

(1.12%)

Payroll Loans

19.61%

2.56%

Home Equity Loans

(5.75%)

(0.29%)

Mortgages

10.78%

(1.13%)

Total Consumer

16.32%

1.36%

Quarterly Consumer Loan Balances by Type

Consumer Loan Growth by Type

Rp57.4 tn

29

*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 9.67 Tn in our Commercial Loan Portfolio

(31)

14,058 13,451 13,502 15,918 17,255 17,124 19,559 18,838 18,886 18,824 19,054 16,924 14,846 14,292 13,336 12,986 13,944 13,606 15,676 14,856 15,626 16,989 17,672 17,755 19,272 11 .46 % 10 .00 % 9.22% 9 .1 % 9 .8 % 9.4% 10 .4 % 9.5% 9.4% ₈.6

% 8. 2% 6 .9 % 5.9% _5.2% 4.5% 4 .1 % 4.3% 3.9% 4.3% 3 .8 % 4 .0 % 4.0% 3 .9 % 3.8% 4.10% 0 2,0 00 4 ,000 6,0 00 8,0 00 10 ,00 0 12 ,000 14 ,00 0 16 ,00 0 18 ,00 0 20 ,000 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

N

P

L

Mov

em

en

t

-C

onso

lida

ted

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% 2.22% 2.07% 2.04% 1.87% 2.08% 1.89% 1.90% 1.90% 2.07% 116.0% 122 .5 % 138.9% 127.1% 116 .6 % 136.1% 155 .2 % 206 .0 % 191.7% 19 2.4 % _155.5% 185 .1 % 185.1% 189.6% 193.4% 185 .5 % 187.6% 185 .3 % _170.3% 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 Gro ss N PL Rat io Pr o v/N PL

Gross

N

PLs

2.0 7%,

coverag

e

at 170.

3%

-Category 2

stabl

e

at

4.

10 %

C

a

teg

or

y

2 Loans

30

(32)

Q1 Total NPLs of Rp7.34tn with Rp556bn in write-offs

NPLs (Rp tn)

1Q (Rp tn)

NPLs (%)

Corporate 2.64 0.04 1.58%

Commercial 1.04 0.08 0.90%

Small 1.61 0.21 3.48%

Micro 0.92 0.10 3.26%

Consumer 1.12 0.16 1.95%

Total 7.34 0.59 1.76%*

Non-Performing Loans by Segment

* Excluding loans to other banks.

Movement by Customer Segment (Rp Bn)

6.75

0.08

1.37

0.15

0.56

0.00 _7.34

4Q '13 UG to PL DG to NPL Payment Write-Offs Other 1Q '14

Non-Performing Loan Movements (Rp tn)

–

Bank Only

31

-164

-5

159

54 19

345

181

465

158

236

163

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

UG to PL DG to NPL W/O

(33)

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

_{1Q 2014 Details}

Loan Background

Q

Balance

(Rp bn)

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

DG to

NPL

%

UG to

PL

%

Corporate

166,731

-

0.03

0.01

0.25

0.00

0.01

0.00

0.10

0.00

Commercial

116,526

0.25

0.15

0.05

0.27

0.24

0.05

0.10

0.01

0.08

0.09

0.00

Small

46,316

0.77

0.70

0.84

0.49

1.28

0.59

1.05

0.64

0.97

1.00

0.04

Micro

28,205

1.51

1.30

1.37

1.00

1.25

1.10

1.18

0.89

1.16

1.22

0.07

Consumer

57,371

0.32

0.24

0.25

0.07

0.28

0.18

0.17

0.07

0.35

0.41

0.06 Total

415,149

0.28

0.23

0.22

0.11

0.34

0.18

0.25

0.13

0.30

0.32

0.02 Q1 2014 annualized net downgrades of 1.2% on loans

originated since 2005.

(34)

R

es

tru

ctu

red

Loans

19.4 20.3 21.7 18.4 16.9 16.2 16.6 16.4 16.2 17.2 17.1 17.1 15.3 15.2 14.3 13.1 13.6 13.5 13.5 14.2 13.9 14.0 11.7 11.7 12.0 12.5 12.6 11.2

7.0

9.0

13.0

15.0

19.0

4Q '05 4Q '06 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

Decl

ini

ng Restr

uct

ured

Loans

Si

nce

2005

Ann

u

al

iz

ed

R

el

ap

sed

R

a

te o

f

R

es

tru

ctu

red

Loan

P

or

tf

ol

io

33

1.2 %

2.7 %

0.0 %

0.3 %

0.0 %

0.0%

1.5%

2.0%

2.5%

2008 2009 2010 2011 2012 2013 2014

(35)

Total Assets Rp63.0 tn

Bond Trading Volume Rp18.1 tn

Total Assets Rp18.7 tn

Total Loans Rp784bn

Total Financing Rp3.6tn Total Financing

Rp49.8 tn

Equity & FI Underwriting Rp1.3 tn

Annual FYP Rp611 bn

Net Interest Margin 11.22 %

Net Interest Margin 2.34% Total Deposits

Rp55.1 tn

Equity Trading Volume Rp18.3 tn

Fee Contribution Rp117.9 bn

ROA 2.82%

ROA 4.99% ROE

18.21%

ROE 10.6%

ROE 64.8%

ROE 12.90%

ROE 46.88%

•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

(36)

Mandiri Tunas Finance:

Total Financing YTD of Rp3.6Tn

35 Total Booking and the Breakdown for

Joint Financing and Non JF

_{Breakdown of Financing}

405 539 806 1,1

01 1,3 70 1,3 64 1,2 45 1,3 55 1 ,353 1,6 09 1,4 20 2

,075 2,105 2,4

,871 2,678 3,290 309 306

351

372

350 422 342 312 373

486 396 401 372 345 289 232 208 61 79 118 99

118 109 84 67 60

72 49 56 56 76 80 70 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 '11 Q 4 '1 1 Q 1 '1 2 Q 2 '12 Q 3 '12 Q 4 '1 2 Q 1 '13 Q 2 '13 Q 3 '13 Q 4 '13 Q 1 '1 4 Motorcycle Used Car New Car

Q1 2014 Performance

(Rp Bn)

Q1

2014

Q1

2013

Change

Loans 17,054 12,317 38.5%

Net Income (after tax) 55.9 39.2 42.8%

Approval Rate (%) 84.92 88.81 (4.4%)

Disbursement 3,562 2,533 40.6%

NIM (%) 2.34 3.23 (0.9%)

ROA (%) 4.99 4.51 0.5%

ROE (%) 46.88 28.59 18.9%

CER (%) 45.45 44.67 (0.8%)

NPL (%) 1.15 1.17 (1.6%)

375 566 852 966 1,1₄₆ 587 302 ₇₈ 257 576 884 761 1,0₅₄ 1,1₁₀ 1,016 523 1,5₀₆

398 341

425

606

694 1_{,306 1}

,369 1,656 1,530

1 ,592 981 1,7 71 1,4 78 1 ,728 2,2 24 2,4 56 2,0 56 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '10 Q 1 '11 Q 2 '11 Q 3 '11 Q 4 '1 1 Q 1 '12 Q 2 '12 Q 3 '1 2 Q 4 '1 2 Q 1 '13 Q 2 '1 3 Q 3 '1 3 Q 4 '1 3 Q 1 '1 4 JF Non JF

(37)

AXA

Man

di

ri

Fi

nan

ci

al

Servi

ces

Performances

36

N e t Pr o fi t Af ter Ta x (i n Bn ) An n u al Fi rs t Year Pr emi u m (AFYP ) (i n Bn ) # Of P o lic yho ld er s 89 90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 403 599 549 673 820 742 769 946 796 892 712 667 695 850 726 774 611 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 (12 .0% ) Yo 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 1,790,508 1,858,702 1,878,121 1,918,703 1,966,698 2,032,635 2,122,563 2,216,648 2,354,395 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 19 .7% Y o Y Gr o w th 16 .6% Y o Y Gr o w th

(38)

In 2013, Bank Mandiri Announced The acquisition of

InHealth to enrich its insurance services portfolio

37

2,8

1,0

,22

1,1

,24

1,1

,20

1,1

,89

5,501

6,242 6,314 6,262

6,094

5,000 5,200 5,400 5,600 5,800 6,000 6,200 6,400

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

2009 2010 2011 2012 2013

Total Member # of Providers

36 78 47 107 120

203

811

1,073 1,203

1,410

0 20 40 60 80 100 120 140

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

2009 2010 2011 2012 2013

Profit (Rp Bn) GWP (Rp Bn)

Leveraging our institutional, corporate, &

commercial customers

Providing solutions through our banking products to

InHealth healthcare provider

Cross-selling Mandiri products to InHealth members

We have over 700 institutional, 300 corporate, and 1,700 commercial customers with the potential to become members of InHealth

• InHealth has 6,000 healthcare providers and recorded over Rp. 1 trillion in claims in 2013

• Bank Mandiri will leverage the hospital network as

I Health s pa t e to i ease t a sa tio s th ough

enhanced cash management products

• Bank Mandiri also will provide retail packaged products for

all the do to s as I Health s pa t e

InHealth got the premium payment of Rp. 1.4 trillion in 2013 from all the clients. Going forward, Bank Mandiri will

encourage the use of cash management products through Bank Mandiri distribution channel and cross-sell other product to over 1 million InHealth member

(39)

We are Preparing For Our Next Transformation

2009

2005

Market Cap: IDR 60 Tn Revenue Market Share: 8% Net Profit: IDR 2.41 Tn ROE: 10%

Gross NPL: 16.3%

Market Cap: IDR 136.9 Tn Revenue Market Share: 13.4% Net Profit: IDR 9.22 Tn

ROE: 24.24% Gross NPL: 2.42%

2020

Top Bank In ASEAN

Market Cap: >IDR 225 Tn

Revenue Market Share: 14–16% ROE: >25%

Gross NPL: <4%

2014

• Building a winning organization

• Delivering tailored proposition for priority segments

• Building alliances

• Strengthening risk management

•Wholesale transaction banking

•Retail payment & deposits

•Retail financing

•Business transformation

•Developing integrated Human Capital & IT

•Focusing on non-organic growth

1 _{Transformation}

2 _{Transformation}

(40)

…But We Need to Co sider Growi g Beyo d the Ba k

• Revenue Growth Q1 (Whole

Group): Rp1.6tn (15% YoY)

• Q1 Profit from Subsidiary:

Rp639bn (13% of EAT)

• Retail vs Wholesale : Rp 6.9 tn

vs Rp 4.8tn

Our Deal size has continued

to move higher

• BSHB



Rp 40bn (200)

• MTF



Rp250 bn (2009)

• Inhealth



Rp 1.3 tn (2013)

Bank

& Group

Finding Business

Partners

M & A

• JV with AXA (AMFS), Gross Written

Premiums Rp1.7tn, +14% YoY

• JV withTunas Ridean (MTF), Total

Financing Rp3.6tn, 26% YoY

• InHealth



partner BPJS

(41)

Ba k Ma di i s

2014 Corporate Guidance

Target 2014

1Q 2014 Realization

Gross Loan Growth (YoY)

16%-18%

20.1%

Low Cost Deposits

410 Tn

334.7 Tn

Net Interest Margins

~5.60%-5.70%

5.75%

Efficiency Ratio

<45%

41.8%

Gross NPLs

<2.10%

2.07%

Cost of Credit

~1.2%-1.3%

0.88%

# of New ATMs

2,500

–

4,000

-# of New EDCs

40,000

10,116

# of New Micro Outlets

300 (2)

(42)

41

Operating Performance

(43)

42 Corporate + Institutional Banking:

Contribution Margin increased on provision

Rp bn

Performance to Date: 1Q 2014

Contribution Margin (Profit Before Tax) Strategies for 2014

1. Focusing on Anchor Clients

and penetrating through using

of Transaction Banking

2. Account Plan implementation

for top 100 Corporate Banking

Customers.

3. P o ide o e stop se i e

solutio s fo usto e s

transactions and create new

business process to accelerate

the execution of Account Plan

including effective and

responsive Complaint

Handling.

4. Strengthen business alliance

with Mandiri Sekuritas to ease

customers in capital market

792

501 268

211

1,349

208 1,557

522 1,075 ₃₉₃ 1,088

1,375 1,557 1,106

824

954

1,403

1,717 1,138 ₄₁₆

1,187

1,385

1,311 1,144

1,011 1,035

1,438

1,829

2009 2010 2011 2012 2013 2014

Q1 Q2

Q3 Q4

13.2%

1,557

3,326

3,910

3,569

(44)

Mandiri Sekuritas

fi a ial pe fo

a e

(Rp Bn)

43 Q1 2014

Q1 2013

Y-o-Y



(%)

Revenues

156

106 47%

• Investment Banking

15

16 (5%)

• Capital Market

83

55 50%

• Proprietary

25

14 85%

• Investment Mgt

34

22 50%

)

Operating Expenses

106

76 41%

Earnings After Tax

26

22 22%

Equity Transactions

–

bn

31,868

23,902

33%

SUN Transactions - bn

18,133

12,895

41%

Bonds Underwritten - bn

1,285

2,402

(47%)

ROA

4.2%

3.7%

12%

(45)

44 Optimize Off-Shore Branches

as a regional treasury

transaction distribution

channel.

Refocusing on retail FX

Transaction.

Developing Sharia Custody.

Increasing our presence as

main correspondent bank in

Indonesia.

Maintain NPL ratio with

effective restructuring and

joint effort with Business

Unit.

Optimize off balance sheet

accounts through auction

and legal action.

Joint planning session and

joint monitoring

implementation.

Creates nation-wide vendor

accreditation.

Treasury, FI & SAM

•2010 – 2012 : Including collection from SAM and excluding International branches (except Cayman)

•

421 1,003

₁₁₃

1,307

82 _1,389

4.26

455 724

3,091

1,159 1,548 1,389 348

1,338 389

1,163

1,396

316

1,247 954

911

1,660

263

1,540

1,660

2,371

1,765

2009 2010 2011 2012 2013 2014

Q1 Q2 Q3 Q4

(10.3%)

4,848

1,382

6,094

Performance to Date: 1Q 2014

Contribution Margin (Profit Before Tax) Strategies for 2013

Rp bn

5,605

(46)

Commercial Banking:

Strong revenues from Assets

1. Support Bank Ma di i sWholesale Banking vision as an Integrated Wholesale Bank through sophisticated, customized and complete services leading to

increased revenue through Wholesale Deposit generation and Fee Income. 2. Increasing profit and market share

th ough i easi g e isti g usto e s

share of wallet, increasing revenue

f o e usto e s a d a agi g NPL s.

3. Provide the best total business solutions for commercial customers by developing products and services including quality bundling of

products, quick service and competitive pricing.

4. P o ide ui k a d eas se i es fo small business customers by

increasing distribution channels in

la k spot a ea a d i p o i g s all

business model and process

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

Performance to Date: 1Q 2014

Contribution Margin (Profit Before Tax) Strategies for 2014

Rp bn

45

1,227 156

325

264

1,445 468

976

923 939 1,010

1,776 1,833

976

946 1,176 1,314

2,024 _1,800

1,166 _1,174 1,057

1,907

1,511

1,094 1,420

1,677

2,159

1,519

2009* 2010** 2011 2012 2013 2014

Q1 Q2 Q3 Q4

* incl CM of Small Business & BSM

**in June 2010 Decline due to PSAK50&55Implementation

(46.7%)

6,662

4,449

4,709

5,058

(47)

Commercial Banking :

Stronger Platform & Improved Distribution Capability

46 Expanding Scope of Distribution, 2014

Solid & Stable Source of

_{Low Cost Funds}

Product Q1

2014

2013 Growth Demand

Deposit 9.24 15.31 (39.6%)

Rupiah 4.59 9.71 (52.8%)

FX 4.66 5.59 (16.7%)

Saving

Deposit* 0.93 1.62 (42.6%) Total CASA 10.18 16.93 (39.9%) Total Funding 15.82 24.37 (35.1%)

Rp Tn **

CASA Ratio = 64.3%

Funding from Java & Bali = 70.1% of total funding

Sumatera Loans = Rp 16.8 tn

Funds = Rp 3.4 tn

Kalimantan Loans = Rp 6.3 tn Funds = Rp 0.9 tn

Eastern Loans = Rp 2.7 tn Funds = Rp 0.4 tn

Java and Bali Loans = Rp 90.5 tn Funds = Rp 11.1 tn

* Business Savings Product ** excl. BB

CBC = 24 Unit Floor = 25 Unit

(48)

Business Banking :

47

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 : 46 BB Floor : 95 BB Desk : 95

Mandiri Business Lounge : 68

Expanding Scope of Distribution, 2014

Solid & Stable Source of

_{Low Cost Funds}

Product Q1

2014

2013 Growth

Demand

Deposit 1.85 3.35 (44.6%)

Saving

Deposit* 2.16 1.23 75.5%

Total CASA 4.02 4.58 (12.3%)

Total

Funding 5.18 5.46 (5.1%)

Rp Tn**

CASA Ratio = 77.5%

Funding from Java & Bali = 58.7% of total funding

Sumatera Loans = Rp 12.7 tn

Funds = Rp 0.9 tn

Kalimantan Loans = Rp 6.7 tn Funds = Rp 0.7 tn

Eastern Loans = Rp 5.6 tn Funds = Rp 0.5 tn

Java and Bali Loans = Rp 21.3 tn

Funds = Rp 3.0 tn

•Business Savings Product

(49)

48 Str

ong

gr

o

wth fr

om

Bank

Sy

ari

ah

Man

di

ri

6.3% 6.3% 6.6% 6.2% 6.2% 6.4% 6.6% 6.0% 5.9% 6.9% 7.5% 6.9% 6.9% 7.0% 7.3% 7.1% 7.3% 7.2% 7.3% 8.1% 4Q '07 4Q '08 4Q '09 1Q '10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 12.4% 13.5% 13.0% 12.4% 13.0% 12.3% 12.5% 12.7% 12.7% 12.0% 12.1% 12.1% 12.3% 13.3% 13.2% 13.2% 13.0% 11.5% 12.0% 12.2% 12.4% 12.3% 12.4% 12.1% 12.0% 11.1% 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% 4.5% 4.7% 4.5% 4.5% 4.6% 4.0% 4.0% 4.1% 4.4% 10.31 13.28 16.06 17.65 19.87 21.44 23.97 27.09 30.01 34.41 36.73 37.44 39.93 41.82 44.50 46.30 48.40 49.70 50.46 49.82 4Q '07 4Q '08 4Q '09 1Q '10 2Q'10 3Q'10 4Q'10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 Fi na n ci ng 91.1% 89.1% 83.1% 83.9% 85.2% 86.3% 82.7% 84.1% 88.5% 86.3% 86.2% 87.2% 92.2% 93.9% 93.9% 95.6% 94.2% 91.3% 89.4% 90.3% FDR

Sy

ari

a

h

Fi

n

an

ci

ng

(R

p

tn)

Ne

t

In

ter

es

t M

ar

gi

n

&

Cos

t of

Fund

s

Fi

n

an

ci

a

l P

er

for

mance

(R

p

bn)

Yo A

CoF _NIM

FY ’ FY ’ FY ’ FY’ FY’ FY’ Q ’ Fi n an ci n g 13,278 16,063 23,968 36,664 44,755 50,460 49,821 De p o si ts 14,899 19,338 28,999 42,618 47,409 56,461 55,148 A ss e ts 17,066 22,037 32,482 48,672 54,229 63,965 63,009 E A T 196.42 290.94 418.52 551.07 805.69 651.24 200.50 R ati o s: ROA 1.83% 2.23% 2.21% 1.95% 2.25% 1.53% 1.77% ROE 21.34% 21.40 % 25.05% 24.24% 25.05% 15.34% 16.77% G ro ss N PF 5.66% 4.84% 3.52% 2.42% 2.82% 4.32% 4.88%

(50)

49

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.,

pre-paid) as well as e-channel

transactions in order to

i

ease usto e s lo alt

and 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

Contribution Margin (Profit Before Tax) Strategies for 2014

1,126

761 981 965 1,237

3,252 855

583

842 1,081

1,391 449

877

1,033 1,170

1,867 722 ₈₉₉

1,311

1,242

2,259

2009 * 2010* 2011 2012 2013 2014** Q4 Q3 Q2 Q1

*Including Small Business **Resegmentation

4,167

162.9%

845

3,522

1,109

1,890

3,585 333

3,252

3,152 3,120

Performance to Date: 1Q 2014

Rp bn

4,458

6,753

(51)

50 Consumer Finance:

Significant growth in spread and fee income

1. Develop clear portfolio

strategy, targeted to key

customer segments

2. Differentiate acquisition

strategy by markets

3. Increase existing sales

executive 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. Focusing in branch as main

channel acquisition for credit

card and personal loan

6. Increasing alliance with other

Business Units to support the

achievement of business

targets

Performance to Date: 1Q 2014

Contribution Margin (Profit Before Tax) Strategies for 2014

Rp bn

252 476

496

770 ₇₂₈

392 355

455 486

715 ₇₀₅

413

526 531

729

576

489

474

693

772

525

2009 2010 2011 2012 2013 2014

Q1 Q2 Q3 Q4

2,535

(46%)

1,926

2,205

490

302

187

605

212

392 2,987

(52)

51

Supporting

(53)

9,564

3,528

5,411

7,681

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

1Q 2014 operating profit increased by 14.7% from 1Q 2013

on higher NII

1Q 2014

Notes :

1. Fee based income excluding gain on sale & increasing value GB & securities 2. Overhead expenses + others excluding provisions

1Q 2013

Rp billion

Up 14.7%

8,065

3,273

4,641

6,697

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

Rp billion

(54)

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

(55)

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



20,40% market share in

Corporate & IB lending*,

13,27% in Commercial lending*



3,026 Corporate customers



Target of 16% growth in

Wholesale funding & 21% in fees



# of Credit cards: 3.27 Mn



# of Debit cards: 11.59 Mn



# of Prepaid cards: 3.65 Mn



# of Mortgages: >172,000



Building on relationship with 16.2

million retail customers and

employees and suppliers of

Corporate/Commercial businesses



Target 40% of total loan

Pillar 1

Pillar 2

Pillar 3

We Focus on 3 Main Pillars

(1)

98 Eff

ici

en

cy meas

ures

rel

at

ive t

o

peers

Bank Onl

y,

As

of December

2013

60.3% 58.0% 57.3% 50.6% 45.9% 44.1% 41.5% 40.0% 39.8% 38.3% Permata BTN BII Panin BNI CIMB Niaga BRI Danamon Mandiri BCA 675 507 340 289 260 226 213 195 170 44 BCA Mandiri BNI CIMB Niaga BRI Permata Panin BTN BII Danamon 19,243 15,662 14,705 13,653 12,351 11,341 10,976 10,751 5,987 BCA Permata Mandiri BII Panin BTN CIMB Niaga BNI BRI 15,338 14,679 12,541 12,496 12,271 10,839 10,481 9,171 5,301 1,562 Permata BCA BTN BII Mandiri Panin CIMB Niaga BNI BRI Danamon

Prof

it

/

Em

ploy

ee

(Rp

Mn

)

C

ost

/

Incom

e

(%)

Loans/

Em

ploy

ee

(Rp

Mn

)

D

epo

s

it

s

/

Em

ploy

ee

(Rp

Mn

)

828 638 424 393 340 299 282 267 238 54 BCA Mandiri BNI CIMB Niaga BRI Permata Panin BTN BII Danamon

Pre

T

ax

I

ncom

e/Em

plo

y

ee

(Rp

Mn

)

8.6% 4.2% 4.2% 4.0% 3.8% 3.5% 3.3% 3.3% 2.9% 2.7% Danamon BRI BNI BCA CIMB Niaga BII Mandiri BTN Permata Panin

C

os

t/

As

s

e

ts

(%)*

_*Ann

ua li z e d A v e rag e

(2)

99 Measur

es

of s

cal

e and

retur

ns rel

at

ive t

o

peers

Bank Onl

y,

As

of December

2013

34.1% 28.2% 27.3% 22.5% 19.0% 16.1% 15.7% 14.6% 14.6% 13.0% BRI BCA Mandiri BNI CIMB Niaga BTN Permata BII Panin Danamon 2,050 1,965 1,697 1,522 1,506 1,062 790 584 497 420 Mandiri BRI Danamon BNI CIMB Niaga BCA BTN Permata Panin BII 8.6% 8.3% 6.2% 6.1% 5.7% 5.5% 5.4% 4.5% 4.2% 4.1% BRI Danamon BCA BNI Mandiri CIMB Niaga BTN BII Permata Panin 81,238 67,729 33,982 26,100 21,281 14,342 9,507 8,011 7,726 7,643 BRI Danamon Mandiri BNI BCA CIMB Niaga Panin BTN Permata BII

Branc

hes

R

eturn

on

Equ

it

y

(Aft

er

T

ax

)

(%)

Em

ploy

ees

N

et

Interest

M

arg

ins

(%)

5.0% 3.8% 3.7% 3.4% 2.8% 2.8% 1.9% 1.8% 1.6% 1.5% BRI BCA Mandiri BNI CIMB Niaga Danamon Panin BTN Permata BII

R

eturn

on

Ass

ets

(Be

fore

T

ax

)

(%)

18,292 14,048 11,514 11,163 2,956 1,524 1,504 1,467 963 904 BRI BCA Mandiri BNI CIMB Niaga BII BTN Danamon Panin Permata

A

T

M

s

A v e rag e

(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

BROKERAGE ANALYST TELEPHONE E-MAIL

ANDALAN ARTHA ADVISINDO SEKURITAS Adriana Indrajatri Suwono 6221-299-16600 [email protected]

BAHANA SECURITIES Teguh Hartanto 6221-250-5081 [email protected]

BANK OF AMERICA MERRILL LYNCH Tay Chin Seng 65-6591-0419 [email protected]

BARCLAYS CAPITAL Anish Tawakley 91-2267196016 [email protected]

BNP PARIBAS Igor Nyoman 6221-2358-4947 [email protected]

CLSA LIMITED Jayden Vantarakis 6221-2554-8834 [email protected]

CIMB SECURITIES Hadi Soegiarto 6221-515-1330 [email protected]

CITI INVESTMENT RESEARCH Salman Ali 6221-5290-8548 [email protected]

DANAREKSA SEKURITAS Eka Savitri 6221-3509-777 [email protected]

DBS VICKERS SECURITIES Lim Sue Lin 603-2711-0971 [email protected]

DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 6221-318-9523 [email protected]

GOLDMAN SACHS (ASIA) Ben Koo 65-6889-2483 [email protected]

HSBC LTD Kar Weng Loo 65-6239-0654 [email protected]

INDO PREMIER SECURITIES Stephan Hasjim 6221-57931168 [email protected]

J.P. MORGAN ASIA Harsh Modi 65-68822450 [email protected]

KIM ENG SECURITIES Rahmi Marina 6221-2557-1188 [email protected]

MACQUARIE CAPITAL SECURITIES INDONESIA Nicolaos Oentung 6221-515-7308 [email protected]

MORGAN STANLEY Mulya Chandra 6221-3048-8125 [email protected]

OSK RESEARCH Rocky Indrawan 6221-6232 3832 [email protected]

SANFORD C. BERNSTEIN Kevin Kwek 65-6230-4650 [email protected]

STANDARD CHARTERED BANK Jaj Singh 65-6596-8518 [email protected]

UOB KAY HIAN Sonny John 6221-2993 3917 [email protected]

(6)

PT Bank Mandiri (Persero) Tbk PLAZA MANDIRI

Jl. Jend. Gatot Subroto Kav 34-36 Jakarta 12190, Indonesia

Tel: 62-21 526 5045

Fax: 62-21 527 4477, 527 5577 Call Center: 14000

www.bankmandiri.co.id

Contact Information: Investor Relations Tel: +62 21 524 5085 Fax: +62 21 5290 4249 E-mail: [email protected] http://ir.bankmandiri.co.id Corporate Secretary Tel: +62 21 524 5740 Fax:: +62 21 526 8246