Q2 2012 Bank Mandiri (r 03)

(1)

PT Bank Mandiri (Persero) Tbk

Q2 2012

Results Presentation

(2)

Share Information

∆ fro : IPO June 30, 2012

BMRI +916.57% +6.67%

JCI +628.43% +3.50%

No. of

Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 14,000,000,000 60.00% 2. Retail 8,632 46.82% 135,020,301 0.58% 3. Employees 7,893 42.82% 118,483,318 0.51% 4. Cooperatives 2 0.01% 20,556 0.00% 5. Foundations 10 0.05% 9,016,035 0.04% 6. Pension Funds 130 0.71% 217,808,148 0.93% 7. Insurance 51 0.28% 347,048,219 1.49% 8. Banks - 0.00% - 0.00% 9. Corporations 105 0.57% 279,945,308 1.20% 11. Mutual Funds 130 0.71% 709,806,028 3.04% Total 16,954 91.97% 15,817,147,913 67.79%

II INTERNATIONAL

1. Retail 59 0.32% 2,137,617 0.01% 2. Institutional 1,422 7.71% 7,514,047,803 32.20% Total 1,481 8.03% 7,516,185,420 32.21%

No. Description

100.00%

Per 30 June 2012

III TOTAL 18,435 100.00% 23,333,333,333

-200% 0% 200% 400% 600% 800% 1000% 1200%

-03

-04

-05

-06

-07

-08

-09

-10

-11

-12

(3)

2 Bank Mandiri Presentation Contents

Results Overview Page #



Q2 2012 Highlights 3-5



SBU Performance Highlights 6-7



Loan Growth & LDR 8-12



CIR & ROE 13-14



Strategy Overview 15



Wholesale Transactions 16-18



Retail Value Chain 19-26



High-Yield Lending Activities 27-28



NPL Movement 29-31



SBU Alliances & Subsidiaries 32-33



BMRI Targets 34

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 91.5 Tn

• 29.8% of Loans

Subsidiaries Income

• Total Rp 936.2 Bn

• Sum of income of 5

subsidiaries

(13.1 % of EAT)

Alliances (total)

• Card From Alliances

163.248 cards

• Alliance Payroll

Accounts: 344.800

e-Channel Tx

• 613 Mn YTD

• 34.3% Growth

# of Cards Issued

• Credit 2.57 Mn

• Debit 9.65 Mn

• Prepaid 1.95 Mn

Cash Management

• 11,377 Customers

• 6.1 Mn Tx YTD

2012

(2)

(1) Small Business, Micro and Consumers

(2) Exclude Mandiri Transaction System

# of Accounts

• Deposits 12.53 Mn

• Loans 1.21 Mn

# of new Accounts (YTD)

• Deposit 1.74 Mn

• Loans 321.173

# of Outlets

• 1,643 Branches

• 2,012 Micro Outlets

(5)

Key Financial Highlights

Bank

Ma di i s

H1 2012 Performance continued to demonstrate marked

improvements in several key indicators:

H

H1



%

Loans

Rp276.7 tn

Rp350.4tn

26.6%

Net NPL Ratio

Gross NPL Ratio

0.58%

2.42%

0.55%

2.07%

(5.2%)

(14.5%)

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

57.7%

Rp209.4tn

62.3%

Rp260.4 tn

7.9%

24.4%

NIM

5.20%

5.24%

0.8%

Efficiency Ratio

37.3%

43.6%

16.8%

Earnings After Tax

6,323 bn

7,147 bn

13.0%

(6)

82 .8 88 .8 93 .7 97.1 97 .1 10 2.9

108.8 121.9 119

.8 12 6.5 135.4 151 .8 150 .4 15 9.9

8.2 8.3 8.7 9.7 9.9

10.8 11.6

11.6 12.3 12.712.2

12.0 13.413.6

45.7 53 .9 47.8

50 .3 39 .9 46.2 45 .3 47 .9 49.4 67.3 75 .0 59 .0

20.318.3 21.1

18.8 22.023.1 22.9

22.2 25.422.3 24.0

25.328.2 28.0

99 .6 10 5.7 109.3 108 .4 124 .4 12 7.8 127.0 147 .8 143 .5 14 0.8 140 .0 148.1 ₁₂₀ .8 13 7.5 16.718.7 17.115.1

11.811.7 11.1

12.5 10.3 12.415.3 17.8 15.620.3 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 Q 1 '09 Q 2 '09 Q 3' 09 Q 4' 09 Q 1 '10 Q 2 '10 Q 3' 10 Q 4 '10 Q 1' 11 Q 2 '11 Q 3' 11 Q 4' 11 Q 1' 12 Q 2 '12

FX Time Rp Time

FX Demand Rp Demand

FX Savings Rp Savings

64.1 65.8 68.8 69

80.7 84.2 85

.4 85.1 96 .2 103.2 106 .3 113.0 119 .2

4.4 4.4 4.2 4.5 0.2

0.4 1.3 1.4 1.6

1.5 1.7 1.4

1.3 1.5 40.6 41 .9 43 .6 49.1 49 .1

53.1 57.5 63_.8 64_.7

70.1 74.7

82.5 89_.8

19.7 20.621.7

23.6 24.7 26.728.6 30.7 32.4 34.3 36.339.0 40.7 43.3

14.1 15.5 16.3

17.1 17.7 19.3

20.5 22.7 23.3 25.8 27.6 30.2 30.9 33.1 4.6 4.8 5.1 5.4 5.6 6.0 6.5 7.3 7.7 8.5 9.5 11.7 13.1 15.1 12.6 11.5

11.2 10.3 9.7 9.1 8.6 7.8 6.7 6.1 6.1 4.6 4.8 4.8 16.8 17.1

17.6 18.8 20.4 22.7 24.6 27.2 30.3 34.2 38.4 40.5 40.9 43.6 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 Q 1' 09 Q 2 '09 Q 3 '09 Q 4' 09 Q 1' 10 Q 2 '10 Q 3' 10 Q 4 '10 Q 1' 11 Q 2 '11 Q 3' 11 Q 4 '11 Q 1 '12 Q 2' 12 Subsidiaries SAM

Micro Small

Cons Comm

Int'l Corp

Maintaining momentum for growth

Y-o-Y  62.9% (2.4%) 25.8% 23.1% 26.4% Y-o-Y  77.6% 28.4% 26.3%

Loans by SBU + Subsidiaries

(Rp Tn)

28.1%

23.9%

Deposits by Product

–

Consolidated

(Rp Tn)

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

2.20%* 7.0% 26.6% 350.4tn Total Total 362.6tn 418.2tn 15.3% (21.6%) 27.4%

5

276.7tn

(7)

Balanced Earnings from All Business Units

20.90% 20.83% 28.34% 31.95% 7.47% 3.77% 29.67% 29.58% 13.62% 13.86%

9.51% 6.89% 11.40% 15.05% 32.09% 33.56% 39.12% 35.27% 7.88% 9.24% NII (Net Interest Income)

(Rp bn) % of Total

Fee Income

(Rp bn) % of Total

Asset Spread

(Rp bn) % of Total

Liabilities Spread

(Rp bn)

1,804

2,446

645

2,561

1,176 2,584

3,964

468

3,670

1,719

Corporate + Institutional

Comm & Business Banking

Treasury, FI & SAM*

Micro & Retail

Consumer Finance

H1 '10 H1 '12

1,477

1,964

608

488

1,172 2,057

3,603

365

1,415

1,712

H1 '10 H1 '12

326

483

2,073

5 527

361

102

2,256

H1 '10 H1 '12

25.87% 22.48% 34.40% 39.37% 10.65% 3.99% 8.55% 15.46% 20.53% 18.71%

338

405

1,140

1,390

280 395

863

963

2,023

530

H1 '10 H1 '12

6

*Rp 962Bn from SAM recoveries on W/O loans and non SAM cash recoveries Rp 221Bn

(8)

Strong and liquid balance sheet

Assets

H1 2012

H1 2011

Liabilities

H1 2012

H1 2011

Cash

11,377

8,776

Current Account

87,000

70,201

Current Acc w/ BI & Other Banks

41,122

35,755

Savings

173,433

139,149

Placement w/ BI & Other banks

40,280

29,621

Time Deposits

157,787

153,287

Advances (Other)

14,311

8,791

Marketable Securities

10,427

18,758

Total Deposits

418,220

362,637

Government Bonds

80,438

77,930

Loans (Gross)

350,417

276,708

Securities Issued

1,622

1,849

Provisions of Loans

(13,547)

(11,610)

Deposits from other banks

29,359

12,159

Reverse Repo

10,584

5,028

Borrowings

9,915

5,082

Other Provisions

(1,651)

(1,956)

Other Int. Bearing Liabilities

10,526

5,907

Policyholders Investments in UL,

Investment in shares

9,867

8,208

Non Int. Bearing Liabilities

35,015

30,685

Deferred Tax Assets

3,014

3,670

Equity incl. Minority Interest

67,100

56,610

Other Assets

15,119

15,250

Total

571,758

474,929 Total

571,758

474,929

(Rp Bn, Consolidated)

(9)

LDR increased to 83.4% on loan growth of 26.6%

175.2 181.6 188

.3 198 .5 201.9 218 .0 23 1.9 246 .2 251.8 276 .7

297.5 314.4 327.2 350

.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% Q 1 '09 Q 2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q 1' 11 Q 2 '11 Q 3' 11 Q 4 '11 Q 1' 12 Q 2 '12

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% 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% Q 1 '09 Q 2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q 4' 10 Q 1' 11 Q 2 '11 Q 3' 11 Q 4 '11 Q 1' 12 Q 2' 12

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(Consolidated)

78 .8 79.7 82 .0 82.7 82 .9 88.7 92 .8

93.6 92.5 103.

1 110 .4 111. 7 118 .6 125. 2 42.6 43 .6 45 .3 5 0 .6 50

.4 _54.2 58

.6 64.7 64 .5 70.7 75.3 81.1 82 .9 90.1

14.4 15.8 16.6

17.4 18.0 19.7 20.7 22.8 24.5 25.9 27.7 30.3 30.9 33.2

4.6 4.8 5.1

5.4 5.6 6.0 6.5 7.3 7.7 8.5 9.5 11.8 13.1 15.1

19.7 20.6 21.7

23.6 24.8 26.7 28.6 30.7 32.4 34.3 36.3 39.0 40.7 43.3 Q 1 '09 Q2' 0 9 Q3' 0 9 Q4' 0 9 Q 1 '10 Q2' 1 0 Q 3 '10 Q4' 1 0 Q 1 '1 1 Q 2 '11 Q 3 '11 Q4' 1 1 Q 1 '12 Q2' 1 2

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  26.4% 77.2% 28.3% 27.4% 21.4% 26.6% Total 14.1% 4.9% 10.8% 29.4% 40.8% Break down

As of June2012; Non-consolidated numbers

(10)

27.00

17.79

6.15

7.68

7.09

65.71

Corporate Commercial Small Micro Cons Fin Total

286.26

65.71

27.32

15.11

2.98

1.13

0.85 306.83

Q1'12 Disburs. Install. Payment Pay-off FX

Impact

Write-Offs

Q2 '12

Rp65.7 tn in loans disbursed in Q2 2012

Loan Movement (Rp tn) –Bank Only (Q2 2012) Loan Disbursement by Segment in Q2 (Rp tn) –Bank Only

(11)

Strong Revenue Growth

10 Summary P&L

Q2 2012

_{Rp (Bn)}

Q1 2012

_{Rp (Bn)}

Q2 2011

_{Rp (Bn)}

H1 2012

_{Rp (Bn)}

H1 2011

_{Rp (Bn)}

_{Δ %}

Y-o-Y Q-o-Q

_{Δ %}

Interest Income 10,284 9,938 9,347 20,222 18,121 11.6% 3.5%

Interest Expense (3,599) (3,936) (3,926) (7,535) (7,738) (2.6%) (8.6%)

Net Interest Income 6,685 6,002 5,421 12,687 10,383 22.2% 11.4%

Net Premium Income 571 527 418 1,098 835 31.5% 8.3%

Net Interest Income & Premium Income 7,256 6,529 5,839 13,785 11,218 22.9% 11.1%

Other Non Interest Income

* Other Fees and Commissions 1,837 1,704 1,571 3,541 3,068 15.4% 7.8%

* Foreign Exchange Gains - Net 405 210 179 615 311 97.7% 92.9%

* Gain from incr.in value of Sec. & Sale of Gov. Bonds (134) 134 31 - 63 (100.0%) n/a

* Others 899 694 715 1,594 2,735 (41.7%) 29.5%

Total Non Interest Income 3,007 2,742 2,496 5,750 6,177 (6.9%) 9.7%

Total Operating Income 10,263 9,271 8,335 19,535 17,395 12.3% 10.7%

Provisions, Net (863) (936) (1,299) (1,799) (2,130) (15.5%) (7.8%)

Personnel Expenses (1,939) (1,865) (1,631) (3,805) (3,178) 19.7% 4.0%

G&A Expenses (2,004) (1,614) (1,510) (3,619) (2,860) 26.5% 24.2%

Loss from decr. in value of Sec & Gov Bonds (15) - (47) (15) (82) (81.7%) n/a

Other Expenses (545) (540) (427) (1,085) (722) 50.3% 0.9%

Total Expense (4,503) (4,019) (3,615) (8,524) (6,842) 24.6% 12.0%

Profit from Operations 4,896 4,317 3,420 9,213 8,423 9.4% 13.4%

Non Operating Income 25 174 45 199 79 151.9% (85.6%)

Net Income Before Tax 4,921 4,490 3,465 9,412 8,502 10.7% 9.6%

(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%

5.2%

5 .5

%

Q4 '02 Q4 '0 3 Q 4 '04 Q4 '0 5 Q 4 '06 Q4 '0 7 Q1 '0 8 Q 2 '08 Q 3 '08 Q 4 '08 Q 1 '09 Q2 '0 9 Q 3 '09 Q4 '0 9 Q1 '1 0 Q 2 '10 Q3 '10 Q4 '1 0 Q 1 '11 Q2 '1 1 Q 3 '11 Q4 '1 1 Q1'12 Q 2 '12 NIM 13.0% 9.5% 11.0% 9.3% 10.1% 10.7% 9.1% 9.8% 8.7% 9.0% 8.7% 8.7% 8.2% 8.1% 10.8% 10.8% 6.3% 4.8% 7.3% 4.5% 3.8% 5.3% 4.9% 4.0% 3.8% 3.8% 3.7% 3.4% 3.2% 2.8%

Yield on Assets Cost of Funds

Q2 NIM of 5.5% 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% 4.8% 5.4% 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% 0.6%

0% 5% Q4 '05 Q4 '06 Q 4 '07 Q1 '08 Q 2 '08 Q 3 '08 Q 4 '08 Q1 '09 Q 2 '09 Q3 '09 Q 4 '09 Q 1 '10 Q2 '10 Q3 '10 Q4'10 Q 1 '11 Q2'11 Q

3'11 Q4

'11 Q1'12 Q 2 '12 12.0% 12.1% 12.9%

12.9% _{12.6% 12.7%} 12.5% 11.8% 12.1% 11.9% 12.5% 11.4% 11.6% 7.18% 6.5% 6.5% 5.9% 3.9% 3.3% 6.9% 4.5% 4.6% 5.8% 5.3% 4.2% 4.1% 4.3% 4.2%

3.7%

3.1%

0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

IDR

FX

(13)

12 …i to Fee

-based Income

Non-Loan Related Fees & Commissions

Q2-2012

Q2-2011

H1-2012

H1-2011

Y-o-Y

_

%

Q-o-Q



%

Administration Fees

544

457

985

836 17.8%

18.9%

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

150

107

302

222 36.3%

40.6%

Subsidiaries

362

304

767

752 2.0%

19.3%

Transfer, Retail Transaction

259

217

502

402 24.9%

19.4%

Credit Cards

234

228

476

449 6.1%

2.9%

Mutual Fund, ORI & Bancassurance

86

84

168

146 15.2%

1.9%

Syndications

72

86

108

94 15.1%

(16.3%)

Payroll Package

21

16

38

30 26.6%

36.2%

Others

110

72

195

137 41.6%

51.9%

Total

1,837

1,571

3,541

3,068

15.4%

17.0%

Foreign Exchange Gains

405

179

615

311 97.7%

126.3%

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

(134)

31 -

63 (100.0%)

n/a

Cash Recoveries

661

437 1,183

2,312

(48.8%)

51.3%

Total Operating Income

_10,263

_8,335

_19,535

_17,395

_12.3%

_23.1%

% of Non Loan Related fees to total opr. income

27.0%

26.6%

27.3%

33.1%

(17.4%)

1.4%

Breakdown of Q2 2012 Non-Loan Related Fees & Commissions (Rp bn)

(14)

827 1,0₀₄ 1,110 1,3₈₄ 1,051 1,2₆₅ 1,4₅₉ 1,682 1,5₂₄ 1,5₁₀ 1,8₈₃ 1,409 1,614 2,0₀₄

,116

,390

,019 1,3₂₈

,306

1,3

,485

1,6

12 1,5

,631

1,6

1,9

1,8

,939

'09

'10

Q4'10 Q

'11

Q2'11 Q3'11 Q

'11

1'12 Q2'12

G&A Expense Personnel Expense

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% CIR (%)

Q2 Cost to Income Ratio of 43.2 %

Breakdown of Q2 2012 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

Q ’ Q ’ Q ’ Growth (%)

QoQ YoY

Personnel Expenses

Base Salary 530 524 459 1.1% 15.5%

Other Allowances 903 826 733 9.3% 23.2%

Post Empl. Benefits 53 75 31 (29.3%) 71.0%

Training 94 47 87 100.0% 8.0%

Subsidiaries 359 394 320 (8.9%) 12.2%

Total Personnel Expenses 1,939 1,865 1,631 4.0% 18.9%

G&A Expenses

IT & telecoms 242 184 185 31.5% 30.8%

Occupancy Related 427 365 444 17.0% (3.8%)

Promo & Sponsor 230 206 205 11.7% 12.2%

Transport & Travel 119 99 102 20.2% 16.7%

Goods, Prof. Services & Oth. 284 176 183 61.4% 55.2%

Employee Related 270 208 179 29.8% 50.8%

Subsidiaries* 433 376 212 15.2% 104.2%

Total G&A Expenses 2,004 1,614 1,510 24.2% 32.7%

Other Expenses 545 540 427 0.9% 27.6%

Total Operating Expenses 4,489 4,019 3,568 11.7% 25.8%

*) Rp483bn of G&A expenses reclassified to Other Operating expenses in 2Q11,

(15)

.1 72.5

91.9

108

115.9 ₁₁₂

134

172.9

195

242

352.5

5.5

15.4 17.0 25

27.4 28.4 28

27.2 30

53.3 59

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

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%

15.1% 16.2%

CAR*

308

1,168 1,549 1,744

519 510 1,027 1,390 1,400

2,003

2,681 _3,403

1,300 602

690 1,329

97 305

1,113

1,221 1,526 2,031

2,543 3,744

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 2012

Q4 PAT Q3 PAT Q2 PAT Q1 PAT

IDR bn

21.9% 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% 24.4%

22.0% 21.9% 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

₁₄

1,099*

(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 Rp1.9

T

n



Total Wholesale Low Cost

Deposits Rp67.2 Tn



Growth of Tx cash management

76.4% YoY



Total Retail Fees of Rp2.7 Tn



Total Retail Low Cost Funds

Rp172.4 Tn



YoY increase in # of E-channel

transaction: 34.3%



Total Retail Loans of Rp91.5 Tn



Assets Spread Rp4.4 Tn



29.8% of total loans

Pillar 1

Pillar 2

Pillar 3

1) Excluding collection extracomptable Rp 88.6bn 2) Excluding Mandiri Transaction System

Strategy Focus on 3 Areas of Highest Potential:

Wholesale Transactions, Retail Payments & High Yield Loans

(17)

Breakdown of Net Expansion in Corporate Lending

Q2 12

–

Q2 11 (Total Rp22.11 tn)

Rp Billion

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

160 316

591 765

964 1,188 1,357 1,504 1,563 1,929 1,976 2,260 2,332 2,526 2,683

(1,

000)

0 1,

000 2,000 3,000 4,000

Others Mfg-Oth Trad-Oth Trans Mfg-Metal Electricity Trad-Ret Constr Trad-Distr Mfg-F&B Mining-Coal Mfg-Chem Bus Serv Trad-Dom Plantations

%

13.9% 344.6%

24.6% 33.4% 208.0%

15.7% 66.0% 42.2% 69.4% 16.9% 38.8% 8.5% 15.7%

3.9% 1.0%

Rp Billion

Breakdown of Net Expansion in Commercial Lending

Q2 12

–

Q2 11 (Total Rp19.37 tn)

347 543

568 649 696 706 773 831 918 980 1,082 1,263 1,314 1,343 1,573 1,649 2,058 2,082

(800) (200) 400 1

,000 1,600 2,200

Constr Trad-Oth Utilities Agri-Oth Others Mfg-Oth Bus Serv Plantations Oil & Gas Trad-Dom Mining-Coal Mass Trans Vehicles Mfg-Text Mfg-Chem Mfg-RawM Mfg-Metal Trad-Distr

%

30.0% 64.9% 74.1% 22.0% 60.9% 501.4%

29.4% 59.0% 306.8% 143.4% 11.7%

7.3% 6.5% 27.3% 52.8% 46.5% 12.6% 9.0%

(18)

Wholesale Transactions driving CASA higher

745 2,414

4,066 6,153

7,784 10,943

11,132 11,377

2006 2007 2008 2009 2010 2011 Q

2012

Cash Management Users

Wholesale CASA Deposits

,05

,257

,691

,60

,116

,91

,21

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

2007 2008 2009 2010 2011 Q2 11 Q2 12

Total CASA (IDR Billion)

YoY Growth

248 479 716 685 677 771 1,130

4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Average # of Cash Management Tx

(000), total 6.1 mn transaction in 2012

*) _{Exclude Mandiri Transaction System}

17

57.8% YoY

Growth 22.4% YoY

(19)

Growing Volume in Wholesale Transaction Business

Mandiri Cash Management

Forex

431 .0 6 8 5 .2 9 5 6 .0 2 4 6 .6 451 .3 7,266 18,803 29,774

8,235 10,391

-5,000 10,000 15,000 20,000 25,000 30,000 35,000 -200.0 400.0 600.0 800.0 1,000.0 1,200.0

Dec 09 Dec 10 Dec 11 Q1 2012 Q2 2012

Value (IDR Trillion) # of Trx (000)

66 .0 6 6 .0 77 .0 1 4 .4 17 .5 185,739 239,896 218,436

95,391 100,785

-50,000 100,000 150,000 200,000 250,000 300,000 -10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0

Dec 09 Dec 10 Dec 11 Q1 2012 Q2 2012

Value (USD Billion) # of Trx

Wholesale Remittance

Trade Transaction : Export, Import, Domestic

5 8 .8 7 0 .4 92 .1 27 .9 2 9 .6

396,814 435,866

445,267 146,557 255,867 -100,000 200,000 300,000 400,000 500,000 600,000 700,000 -10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0

Dec 09 Dec 10 Dec 11 Q1 2012 Q2 2012

Value (USD Million) # of Trx

8 4 .8 85 .3 1 0 9 .5 2 9 .8 2 7 .6

454,120 495,813

510,916

129,654 125,088

-100,000 200,000 300,000 400,000 500,000 600,000 -20.0 40.0 60.0 80.0 100.0 120.0

Dec 09 Dec 10 Dec 11 Q1 2012 Q2 2012

Value (USD Million) # of Trx

(20)

86.3 95.5 88.2 93.4 98

.5 109.6 107 .3 112.7 120 .4 134.0 132 .7 140.6 6.8 6.9 7.4 8.1 9.3 10.2 11.0

11.0 11.7 11.9 11.5

11.3 12.7 12.8

5.6 6.1 8.0

9.4

8.2 8.8 9.1

11.1 10.5 11.9 12.2

15.7 14.6 15.4

2.3 2.5 2.4

2.7 _2.7 2.7 3.3 3.2 3.5 3.5 62.9 65.1 68.7 68.5 71.8 70.6 68.7

70.5 69.0 68.6 70.8

73.1 71.6 70.3

7.4 7.4 7.5

6.8 _6.0 5.7 5.8

5.8 _5.3 5.2 5.2

5.3 _5.0 5.0

0 20 40 60 80 100 120 140 160 180 200 220 240 260 Q 1 '09 Q 2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q 4' 10 Q 1 '11 Q 2' 11 Q 3 '11 Q 4' 11 Q 1 '12 Q 2' 12

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits

FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit rose by 16.2% Y-o-Y

Retail Deposit Analysis

–

Bank Only

4.2%

3.5% 3.5% 3.1%

2.5% 2.3% 2.2% 2.0% 2.8%

2.5%

2.6%

2.1% 2.2% _2.4%

2.1% 1.5% 9.5% 8.7% 7.2% 6.5% 6.5% 6.7% 6.5% 6.5% 5.7% 5.0% 0% 5% 10% 15%

Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

1.1%

0.9%

0.6% _0.1% 0.2%

0.1% _0.1%

0.2% 0.3% 3.9%

3.0%

1.0% _0.5% _0.5%0.4% 0.8% 0.8% 0.7%

0% 2% 4% Q1 '09 Q 2 '09 Q3 '09 Q 4 '09 Q1 '10 Q 2 '10 Q3 '10 Q 4 '10 Q 1 '11 Q 2 '11 Q 3 '11 Q4' 11 Q1' 12 Q2' 12

FX DD FX TD

62.5% 62.3% 64.7% 63.4% 63.8% 66.1% 63.3% 63.8% _66.1% 63.8% _66.5% 69.6% As % of total deposits

(21)

…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 42.3

38.6 41.7 40.8

43.0 40.7

44.7

7.9 11.6

15.0 15.4 21.3 25.4

29.8 27.3 8.3

16.5 26.631.8

49.7 68.5 78.7 84.0 (15) 10 35 60 85 110 135 160 185 210 Q 1 '09 Q2 '0 9 Q 3 '09 Q4 '0 9 Q 1 '10 Q 2 '10 Q3 '10 Q4 '1 0 Q1 ' 1 1 Q 2 '11 Q3 '11 Q 4 '11 Q 1 '12 Q2 '1 2 ATM Branch SMS Banking Internet Banking 77.1 95.5 97.1 107.5 130.8 147.7 153.8 162.4

1.4 2.1 2.6 2.93.9 4.6 5.5 5.4 4.8 7.1 8.7

11.7 16.3

21.5 23.5_25.6

0 20 40 60 80 100 120 140 160 Q1 '0 9 Q 2 '09 Q 3 '09 Q4 '0 9 Q 1 '10 Q2 '1 0 Q 3 '10 Q4 '1 0 Q 1 ' 11 Q2 '1 1 Q 3 '11 Q 4 '11 Q1 '1 2 Q2 '1 2 ATM SMS Banking Internet Banking 9.95 7.20 7.67 8.06 8.35 8.72 8.96 9.24 9.65 2.16 3.17 4.21 4.61 4.61 5.08 5.29 5.47 1.11 1.21

0.92 1.01 1.03 1.16 1.21 1.26 0 2 4 6 8 10 12 Q 1 '09 Q 2 '09 * Q3 '0 9 Q 4 '09 Q1 '1 0 Q 2 '10 Q3 '1 0 Q4 '1 0 Q 1 ' 11 Q2 '1 1 Q 3 '11 Q4 '1 1 Q 1 '12 Q2 '1 2 Debit Cards SMS Banking Internet Banking

20

(22)

…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

773.3 846.2

981.3

99.5 129.3

150.0

163.0

183.0 _204.0 295.0

367.5 505.8

693.3 919.8

34.3 36.0

39.3 43.0

45.0 47.6

47.7 48.1

49.4 49.4

49.7

-09

-10

Jun

-10

Sep

-10

-11

Jun

-11

Sep

-11

Mar

-12

Jun

-12

Indomaret e-Toll Gaz

207.7 209.9 154.0 165.0 _133.3 273.8

406.9627.9 688.2

1,072.9

1,078.0 989.0 1,317.0

1,174.3 1,762.5

2,047.9 2,872.2

4,788.0 6,405.0

8.8 2.7 _3.6 _{5.5 7.0} _{3.9 4.1} _{4.7 3.9} 62.3

-09

-10

Jun

-10

Sep

-10

-11

Jun

-11

Sep

t-11

-11

-12

Jun

-12

Indomaret e-Toll Gaz

Pre-Paid Transaction Volume (000s)

(23)

Retail Payment system gaining Traction

Volume Mandiri Business

Saving Account (Tn)

3.5 4.8 8.0

17.7 34.7

22.7 34.5

40.8

2007 2008 2009 2010 2011 Q2 2011

Q1 2012

Q2 2012

Fee Income from e-channel Tx (Bn)

22

23,69027,611 33,732

47,127 92,903

99,765 112,879

2007 2008 2009 2010 2011 Q1 2012

Q2 2012

Numbers of EDC

56% YoY Growth

52.1 89.4 126.2

200.3 258.2

315.2 65.5

98.5

166.6

196.5

285.7

318.6

81.9

110.5

194.5

249.3

313.9

89.0

117.8

223.7

268.5

312.8

2007 2008 2009 2010 2011 2012

Q4 Q3 Q2 Q1

16% YoY Growth

(24)

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

(Rp Bn)

34,254 43,304 9,050

Q2 2011 Growth Q2 2012

YoY 26.4%

Consumer Finance

(Rp Bn)

25,787 33,103

7,316

Q2 2011 Growth Q2 2012

YoY 28.4%

Business Banking

(Rp Bn)

Micro Credit

8,520

15,097 6,577

Q2 2011 Growth Q2 2012

YoY 77.2%

5 ,6

5

60 ,676

63 ,323

66 ,851

7

3 ,3

2

4

8

1 ,0

4

6

8

4 ,6

7

5

9

1 ,5

0

4

26.8%

27.7%

28.6%

27.6%

28.3%

29.6%

29.8%

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 Q1 2012 Q2 2012

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

(25)

Strong Microfinance Growth (1)

200 300 305

355 600

800

878 879

924 10

152

480

710 711

717

2008 2009 2010 2011 Q1

2012

Q2 2012 Branch Unit Kiosk

271 430

562 694

733 765

2008 2009 2010 2011 Q1

2012 Q2 2012

Customers (000)

Network

# Of New Customers

,56

,50

,325

,85

,037

110

,000

121

,007

6,3

126

,509

0,0

Q1 '10

Q2 '10

Q3 '10

Q4 '10

Q1 '11

Q2 '11

Q3 '11

Q4 '11

Q1 '12

Q2 '12

(26)

,347

,646 ₁,645

2,1

1,8

,522

2,7

,208 ₃,397

4,5

Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Booking

Strong Microfinance Growth (2)

Outstanding

–

Rp Tn

4.4 5.4

7.3

11.8 13.1

15.1 2.0%

2.3%

2.8%

3.9%

4.4%

5.0%*

0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

2008 2009 2010 2011 Q1 2012 Q2 2012

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% 20.8%

20.6% Asset Spreads(%)

25

(27)

Continuous End to End Improvement in the Micro Business

•Scorecard Refinement

•Training & Capacity

Development of Managers

•MKA Revitalization (focus

on credit analysis & verification)

•Loan Factory for Fixed

Income Loan

•FIN-1 Collection System

•Change in Organization

•Crash Program for NPL

debtors settlement

Origination

& Targeting

Maintenance

& Review

Collection

Operational Risk

Building New

Business

•750 MKS and 250 M3/KCM

added this year

•Biweekly RTTA

(Risk, Threshold, Trigger & Action Plan) Review Forum

•Mobile Sales and

Maintenance System for MKS

•Incentive Scheme

Refinement

•Post Transaction Control

(Welcome Call)

•Savings

•Pension Loans

•Joint Cooperation with Mandiri

AXA General Insurance (MAGI)

•Joint Cooperation with Bank

Syariah Mandiri (BSM) –for Gold

Pawning

•3,720 EDC (hand held)

rolled out

•Early Warning System

Development

•25 CQO/CAO added this

year

(28)

8,376 8 ,814 9,193 10 ,017 10 ,681 11,626 12 ,593 13 ,500

14,268 15,523 16_,466

17 ,779 18 ,764 20 ,113 3,697 3,70 4

3,699 3_,753 3,82

2 3 ,890 3 ,941 3,95 7 3 ,964 3 ,979 3,94 9

3,887 3_,777

3 ,679 3 ,983 4,09 9 4,252 4,541 4,71 9 4 ,985

5,194 5,428

,643

5,919 6_,100

,233

6,335 6,58

2,251 2,4522,754

2,9892,973 3,2393,372 3,5893,575 3,7613,910 4,2964,245 4,492

781 877

1,067 1,376 1,476

1,704 2,217

2,826 3,454

3,492 4,200

5,115 5,829 6,593

572 615 691

915 1,063 1,214

1,325

1,393 1,454 1,583 1,630 1,690 1,772 1,840 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 Q 1 '09 Q 2 '0 9 Q 3 '0 9 Q 4 '09 Q 1 '10 Q 2 '10 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 '12 Q 2 '12 Other Auto

Credit Cards Payroll Loans

Home Equity Loans Mortgages

…as ell as Co su e le di g, hi h ose

26.42%

Y-o-Y on Mortgages and Vehicles

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

16.46%

3.87%

Auto Loans*

88.82%

13.11%

Credit Cards

19.43%

5.81%

Payroll Loans

11.30%

3.99%

Home Equity Loans

(7.54%)

(2.60%)

Mortgages

29.56%

7.19%

Total Consumer

26.42%

6.34%

Quarterly Consumer Loan Balances by Type

Consumer Loan Growth by Type

Rp43.3 tn

*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 7.30Tn in our Commercial Loan Portfolio

(29)

375 566 852 966 1 ,146 587 302 78 257 576 398 341 425 606 694 1,3 06 1,3 69 1,6 56 1 ,530 1 ,592 Q 1 '10 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 '11 Q 2 '1 1 Q 3 '11 Q 4 '11 Q 1 '1 2 Q 2 '12 JF Non JF

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 1,245

1,3 55 1 ,353 1 ,609 309 306 351 372 350 422

342 312 373

486 61 79 118 99 118 109

84 67 60

72 Q 1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q 1 '1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1 Q 1 '12 Q 2 '1 2 Motorcycle Used Car New Car

H1 2012 Performance

Mandiri Tunas Finance: Total Financing Increased by 21%

Q-o-Q

28 (Rp Bn)

H1

2012

H1

2011

Change

Loans 9,876 6,979 41.52%

Net Income (after tax) 50.04 32.77 52.70% Approval Rate (%) 89.87 84.68 5.19%

Disbursement 3,954 3,732 5.93%

NIM (%) 3.22 3.05 5.57%

ROA (%) 3.97 3.02 31.45%

ROE (%) 23.03 17.21 33.82%

CER (%) 47.78 46.72 2.27%

(30)

12,655 16,202 10,983 8,334 12,912 16,966 15,148 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 12,134 12,053 0 2,0 00 4,0 00 6 ,000 8 ,000 10 ,00 0 12 ,000 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 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 Q1'12 Q2'12 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% 9 .7 % 10 .2 % 9 .7

% ₁₀.6

% 9.7% 9 .0 % 6.1% 4.6% 4 .2 % 4 .2 % 3.9% 0 % 10% 20% 30% 40% 50 % Cat 2 %

N

P

L

Mov

em

en

t

-C

onso

lida

ted

19.80% 9.70% 7.30% 8.60% 7.10% 25.28% 16.34% 7.17% 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% 70 .0 % 146 .7 % ₁₂₉ .5 % 19 0.4 % 139.1% 128.8% 44 .4 % 127.1% 136.1% 219 .1 % 192 .4

% 175.0% 155.5%

174 .2 % 185.1% 185 .2 % Q4 '99 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 Q1'12 Q2'12 Gro ss N PL Rat io Pr o v/N PL

Gr

oss

NPL

s

2 .1

%

, coverage

at

185 %

-Cat

egory

2 loan

decl

ine

d t

o

3 .9

%

C

a

teg

or

y

2 Loans

–

B

an

k On

ly

29

(31)

Q2 Total NPLs Rp6.06 tn with Rp855 bn write-offs

NPLs (Rp tn)

Q (Rp tn)

NPLs (%)

Corporate 2.97 0.02 2.37%

Commercial 0.88 (0.26) 0.97%

Small 0.80 (0.05) 2.40%

Micro 0.57 0.02 3.77%

Consumer 0.85 0.02 1.96%

Total 6.06 (0.24) 1.95%*

Non-Performing Loans by Segment

* Excluding loans to other banks.

241.07 248.62

10.98 17.45

161.67

384.37 46.40

446.64

315.85

50.90

156.25

143.78

0 250 500 750 1,000

UG to PL DG to NPL W/O

Corp Comm Micro/Small Cons

Movement by Customer Segment (Rp Bn)

6.30

0.36

1.01

0.14

0.86

0.09 _6.06

Q1 '12 UG to PL DG to NPL Payment Write-Offs Other Q2 '12

Non-Performing Loan Movements (Rp tn)

–

Bank Only

(32)

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

_{Q2 2012 Details}

Loan Background

Q

Balance

(Rp bn)

Q2

2010

Q3

2010

Q4

2010

Q1

2011

Q2

2011

Q3

2011

Q4

2011

Q1

2012

Q2

2012

DG to

NPL

%

UG to

PL

%

Corporate 109,688.61

0.17

0.18

0.05

0.45 -

0.20

0.29 -

0.03

0.23

0.20

Commercial 83,385.28

0.27

0.13

0.04

0.27

0.05

0.13

0.00

0.25

0.15

0.01

Small 29,600.23

0.40

0.83

0.37

0.92

0.91

0.29

0.77

0.70

0.78

0.09

Micro 14,977.86

1.97

2.17

1.51

2.08

1.69

1.93

1.03

1.51

1.30

1.39

0.09

Consumer 42,559.97

0.33

0.35

0.14

0.45

0.28

0.33

0.08

0.32

0.24

0.35

0.11 Total

280,211.96

0.32

0.33

0.12

0.51

0.22

0.34

0.21

0.28

0.23

0.34

0.11 Q2 2012 annualized net down grades of 0.9% on loans

originated since 2005.

# %

downgrades

and

upgrades

are quarterly % figures

(33)

Total Assets Rp49.70 tn

Bond Trading Volume Rp29.2 tn

Total Assets Rp12.79 tn

Total Loans Rp628.71 bn

Total Financing Rp4.0tn Total Financing

Rp39.93 tn

Equity & FI Underwriting Rp5.5 tn

Annual FYP Rp 1.69 tn

Net Interest Margin 10.34%

Net Interest Margin 3.22% Total Deposits

Rp43.31 tn

Equity Trading Volume Rp33.4 tn

Fee Contribution Rp251.29 bn

ROA 2.32%

ROA 3.97% ROE

25.66%

ROE* (11.3%)

ROE 75.83%

ROE 12.33%

ROE 23.03%

•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

32

(34)

AXA

Man

di

ri

Fi

nan

ci

al

Servi

ces

Performances

N e t Pr o fi t Af ter Ta x (i n Bn ) An n u al Fi rs t Yea r Pr em iu m (AFY P) (i n Bn ) # Of P o lic yho ld er s 89 90 245 235 171 183 408 439 258 234 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 403 599 549 673 820 742 769 946 796 892 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 20 .3 % 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 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 13 .4% Y o Y Gr o w th 27 .9 % Yo Y Gr o w th As o f Jun 30 (Rp T n )

2012

2011

App

rai

sal

V

al

u

e

32 .1

24 .1

33

(35)

BMRI 2012 Targets

34 Target 2012

1H Realization

Gross Loan Growth (YoY)

22% - 24%

26.6%

Low Cost Deposits (Consolidated)

> 300 Tn

260.4 Tn

Net Interest Margins

~ 5.20%

5.24%

Efficiency Ratio

~ 45%

43.6%

Gross NPLs

<3%

2.07%

Cost of Credit

~ 1

–

1.2%

1.1%

# of New ATMs

1,500

1,365

# of New EDCs

70,000

19,976

# of New Micro Outlets

300

71

(36)

35

Operating Performance

Highlights

(37)

36 Rp bn

2,057 527

395 ₂₈₆

2,693 202

2,491

741

522

1,075

393

1,088

547 1,106

824

954

1,403 537

1,138

416

1,187 659

1,144

1,011

1,035

2008 2009 2010 2011 Q1 2012

Q1 Q2

Q3 Q4

Corporate + Institutional Banking:

Contribution Margin increased on provision

176.8%

2,483

Performance to Date: H1 2012

Contribution Margin (after PPAP)

Strategies for 2012

1. Implement The Account Plan

for top Corporate Banking

Customers to re-identify and

have better understanding of

the lie t s usi ess eeds.

Improve the organizational

alignment by implementation

of the Client Coverage

Concept to execute the

Account Plan Strategy.

2. Strengthen business alliances

with Mandiri Sekuritas by

offering other external

funding solutions to Corporate

Banking client and vice versa.

3. Refocusing overseas branches

business to Indonesian related

companies which are located

abroad and extent its business

exposure by offering Wealth

Management Products.

3,326

3,910

3,569

(38)

Mandiri Sekuritas

fi a ial pe fo

a e

Q2 2012

Q2 2011

Y-o-Y



(%)

Revenues

171

281 (39%)

• Investment Banking

22

113 (81%)

• Capital Market

106

129 (18%)

• Investment Mgt

43

39 5%

• Asset Recovery

)

Operating Expenses

156

128 22%

Earnings After Tax

(47)

12 492%

Equity Transactions

–

bn

33,377

43,472

(23%)

SUN Transactions - bn

29,186

18,722

56%

Bonds Underwritten - bn

5,479

10,670

(49%)

ROA

(5.4%)

6.6%

(182%)

ROE

(11.3%)

3.1%

(465%)

(Rp Bn)

(39)

38 Optimizing Online FX Dealing

System, 99 Mandiri Money

Changer and 91 Regional

Treasury Marketing.

Enhancing Treasury core

system.

Intensifying cooperation with

correspondent banks.

Developing infrastructure to

focus on remittance, trade and

capital market businesses.

Maintaining NPL ratio by

optimizing joint effort and

early warning system (EWS).

Optimizing legal actions in

collecting written off loans.

Developing procurement

partnership for long term

relationship.

Optimizing e-auction for

procurement process.

Treasury, FI & SAM

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

•2011 Including collection from Garuda Indonesia (non recurring)

468 1,925

53 2,340

17 2,323

210 455

724

3,091

1,159 153

348

1,338

389

1164

322

316

1,247

954

118

263

1,540

1,660

2008

2009

2010

2011

2012

Q1 Q2

Q3 Q4

803 (33.3%)

4,848

1,382

6,094

Performance to Date: H1 2012

Contribution Margin (after PPAP)

Strategies for 2012

Rp bn

(40)

852 923 939 1,010

1,776 946

1,266 _1,176 1,314

2,024

714

1,166 _1,174 1,057

665

1,094 1,420

1,677

2008* 2009* 2010** 2011

2012

Q1 Q2 Q3 Q4

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

39

3,603 361

863 ₄₅₅

4,372 ₅₇₂

3,800

Commercial Banking:

Strong revenues from Assets

75.8%

3,026

1. Supporting Bank Mandiri Wholesale Banking vision as an Integrated Wholesale Bank through sophisticated, customized and completed services 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: H1 2012

Contribution Margin (after PPAP)

Strategies for 2012

Rp bn

(41)

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%

6.9%

2005 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 Q1'12 Q2'12 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% 11 .5 % 12 .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% 4.5% 4.7% 10.31 11.15 12.73 13.77 13.25 13.43 14.23 14.94 16.06 17.65 19.87 21.44 23.97 27.09 30.01 34.41 36.73 37.44 39.93 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 Q1 '12 Q2 '12 Fi n an ci n g

40 Str

ong

gr

o

wth fr

om

Bank S

yari

ah

Man

di

ri

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% 86.2% 87.2% 92.2% FDR

Sy

ari

a

h

Fi

n

an

ci

ng

(R

p

tn)

Ne

t

In

ter

es

t Ma

rgi

n

& Cos

t of

Fund

s

Fi

n

an

ci

a

l P

er

for

mance

(Rp

bn

)

Yo A

CoF NIM

FY FY FY FY FY Q Fi na n ci ng 1 0 ,3 0 5 1 3 ,2 7 8 1 6 ,0 6 3 2 3 ,9 6 8 3 6 ,7 2 7 3 9 ,9 3 4 De p o si ts 1 1 ,1 0 6 1 4 ,8 9 9 19 ,33 8 28 ,99 8 42 ,61 8 43 ,30 9 As se ts 1 2 ,8 8 8 1 7 ,0 6 6 2 2 ,0 3 7 3 2 ,4 8 1 4 8 ,6 7 2 4 9 ,7 0 4 E AT 1 1 4 .64 1 9 6 .42 2 9 0 .94 4 1 8 .52 5 5 1 .07 3 9 6 .84 Rat ios : ROA 1 .54 % 1 .83 % 2 .23 % 2 .21 % 1 .95 % 2 .25 % ROE 1 5 .94 % 2 1 .34 % 2 1 .40 % 2 5 .05 % 2 4 .24 % 2 5 .66 % N e t N PF 3 .43 % 2 .37 % 1 .34 % 1 .29 % 0 .95 % 1 .41 %

(42)

41 Commercial Banking :

Stronger Platform & Improved Distribution Capability

Expanding Scope of Distribution, 2012

Solid & Stable Source of

_{Low Cost Funds}

Product Q2

2012

2011 Growth Demand

Deposit 22.10 23.97 8.49% Rupiah _14.86 _16.20 _9.02%

FX _7.24 _7.77 _7.40%

Saving

Deposit* _2.23 _2.36 _5.76% Total Low

Cost Fund 24.33 26.33 8.24% Total Funding 36.72 38.08 3.72% Rp Tn **

Low Cost Fund Ratio = 69.1% Funding from Java & Bali = 77.7% of total funding

Sumatera Loans = Rp 12.5 tn

Funds = Rp 5.1 tn

Kalimantan Loans = Rp 5.2 tn Funds = Rp 2.6 tn

Eastern Loans = Rp 2.1 tn Funds = Rp 0.8 tn

Java and Bali Loans = Rp 69.9 tn Funds = Rp 29.6 tn

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

Floor = 28 Unit TSC = 13 Unit TSD = 18 Unit

(43)

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 : 41 BB Floor : 82 BB Desk : 98

Mandiri Business Lounge : 24

42 Business Banking :

Expanding Scope of Distribution, 2012

Solid & Stable Source of

_{Low Cost Funds}

Product Q2 2012

2011 Growth

Demand

Deposit 2.44 2.90 18.91%

Saving

Deposit* 0.61 0.94 54.24%

Total Low

Cost Fund 3.05 3.85 25.98%

Total

Funding 3.77 4.69 24.32% Rp Tn**

Low Cost Fund Ratio = 82.0% Funding from Java & Bali = 66.3% of total funding

Sumatera Loans = Rp 26.1 tn

Funds = Rp 0.8 tn

Kalimantan Loans = Rp 5.3 tn Funds = Rp 0.6 tn

Eastern Loans = Rp 3.9 tn Funds = Rp 0.3 tn

Java and Bali Loans = Rp 28.9 tn

Funds = Rp 3.1 tn

•Business Savings Product

(44)

727

1,126

761 981 965

880

855

583

842 1,081

1,319 ₄₄₉

877

1,033 1,069

722

899

1,311

2008* 2009 * 2010* 2011 2012

Q4 Q3 Q2 Q1

*Including Small Business

4,167

43

14.8%

1,415

2,256

2,020

3,220

2,471 426

2,045

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.,

pre-paid) as well as e-channel

transactions in order to

i

ease usto e s loyalty

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

3,152 3,320

Performance to Date: H1 2012

Contribution Margin (after PPAP)

Strategies for 2012

Rp bn

(45)

44

174 252

476 496

770 200

355

455 486

716

133

413

526 531

324

489

474

693

2008

2009

2010

2011

2012

Q1 Q2

Q3 Q4

831 1,509

Consumer Finance:

Significant growth in spread and fee income

51.4%

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

1,719

530

394 1,855

369 1,486

Performance to Date: H1 2012

Contribution Margin (after PPAP)

Strategies for 2012

Rp bn

(46)

45

Supporting

Materials

(47)

46 7,256

3,164

4,422

5,998

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

Q2 2012 operating profit increased by 27.9% from Q2 2011

on higher NII

Q2 2012

Notes :

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

Q2 2011

Rp billion

Up 27.9%

6,160

2,465

3,936

4,689

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

(48)

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

(49)

Product Holding for Commercial & Corporate

6.8 7.3

7.6

8.3 _8.2 _8.2

8.4 8.4 8.5 8.5

8.7

Q4 2009

Q1 2010

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Product Holding Commercial

Product Holding Corporate

6.3 6.6

6.9 8.3

9.0 8.6

8.2 8.3

8.7

8.3 8.3

Q4 2009

Q1 2010

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

(50)

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

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% 50% 60% 70% 80% 90% 100% 110% 120% Ma r 08 Ju ne 08 Sep 0 8 Dec 08 Ma r 09 Ju ne 0 9 Sep 09 Dec 09 Ma r 10 Ju ne 1 0 Sep 10 Dec 1 0 Ma r 1 1 Ju ne 1 1 Sep 1 1 Dec 11 Ma r 12 Ju n 12 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)

Q2 12 (Total USD 4.84Bn)

0.02 0.08 0.09 0.22 0.24 0.31 0.49 0.52 1.23 1.64 0

Soc Serv

Oth

Constr

Trans

Utilities

Bus Serv

Agri

Trading

Mfg

Mining



%

20% -6% 10% 13% 25% -2% 26% -21% 2% -3%

49 FX Loans & LDR

(51)

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

Savings Deposit Growth

Transaction channel growth

50

85 .39

91 .11

95 .95

106 .45

9 .3

8

105 .50

111 .59

123 .50

12

1.49

13

9.15

147 .62

16

3.78

1

6

3 .8

8

173 .43

33.4% 33.7%

34.5%35.5%_34.1%34.9%

37.7% 37.1% 37.3% 38.4% 39.2% 38.8% 40.6% 41.5% 17.3% 17.8% 17.9% 17.6% 17.3% 17.3% 17.1% 16.8% 17.3% 16.9% 16.9% 16.6% 16.7% Q 1 '09 Q 2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q

1'11 Q2

'11

4'11 Q1

'12

Savings Deposits (Rp tn) As % of Total Deposits

National Share of Savings Deposits (%)

1,1 00 .5 1,1 58 .9 1,2 30 .6 1,3 15 .4 1 ,293 .3 1 ,321 .8 1 ,380 .5 1 ,357 .4 1,4 72 .3 1,5 56 .5 1 ,679 .4 1 ,688 .9 1,6 97 .1 1 ,809 .8

97.4 106.6116.7

131.4 129.9136.5143.2 147.5

157.6168.3

182.7 197.3 219.9 236.8

61.6 63.2

67.2 73.0 71.9 73.2

77.6 76.0 82.5

85.4 92.9 91.2 112.6 128.1

Other Payment

Transfer Withdrawal / Inquiry Avg ATM Daily Vol (000)

7,5 01 9,6 23 11 ,05 7 12 ,868 13 ,625 14 ,95 5 14 ,73 6 15 ,392 17 ,980 21 ,251 23 ,066 25 ,393 29 ,745 27 ,325 2,9553,165 2,7802,8222,976 3,3353,4543,216 3,084 3,2582,953 3,219 3,179 3,235 Q 1 '09 Q 2 '09 Q3 '0 9 Q4 '0 9 Q1 '1 0 Q2 '1 0 Q3 '10 Q 4 '10 Q 1 ' 11 Q2'11 Q3 '11 Q 4 '11 Q 1 '12 Q 2 '12

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

(52)

Retail Value Chain in Gas Station & Telco Industry

Value Chain Gas Station

Value Chain of Top 3 Telco

Relationships

747 730 735 830 922 895 926 2,745 2,832

2,909 3,011

3,346 3,368

3,429

-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 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Jun 12 Avg Bal

(Rp bn)

Total SPBU (unit)

93 104 118 151 144 133 137 88

108 187

196 ₁₉₇

221

-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 Mar 12 Jun 12 Avg Bal

(Rp bn)

Total Authorized Dealer (unit)

(53)

,756 5,169

9,607 10

,231

,533

,500

12,281

,469

,756

22,085

Mar '10 Jun '10 Sept '10 Dec '10 Mar '11 Jun '11 Sep '11 Dec' 11 Mar' 12 Jun' 12

319 791 1,275

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

4,067 4,324 4,878

5,665

6,482 6,716 7,534

Q4'06 Q4'07 Q4'08 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12

Rp Billion

Consumer Loans from Alliance Program

(10 top corporate clients)

Total Payroll in 2010-2012(*)

Rp Billion

Co-Branding Prepaid Card Program

14,612 16,495 23,660

36,987

55,174 57,945 63,922

75,407

93,147 96,048 96,749

Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12

Corporate Card Holder from Alliance Program

(10 top corporate clients)

Leveraging cash generator to accelerate high yield growth

and deposit franchise

(54)

53 2,569k Visa & Mastercards transacted Rp4.49tn in Q2 2012

Mandiri Visa & Mastercards and EOQ Receivables

2,2 23 .2 2 ,251 .0 2 ,452 .2 2 ,753 .7 2 ,989 .3 2,9 73 .4 3,2 38 .7 3 ,372 .5 3,5 89 .2 3,5 74 .9 3 ,760 .9 3,9 10 .5 4 ,296 .0 4 ,245 .2 4 ,491 .6 1,3311,409 1,4861,544 1,6081,678 1,7701,868 1,980 2,0812,156 2,2542,358 2,446 2,570 Q 4 '08 Q1 '09 Q2 '09 Q 3 '09 Q 4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q4 '10 Q 1 '11 Q2 '11 Q3 '11 Q 4 '11 Q1'12 Q 2 '12

Receivables (Rp Bn) Cards (000s) 1 ,914 1,8 91 2,1 63 2

,552 2,676 2,497 2,848 3,0

03 3,1 32 3 ,032 3,4 21 3,6 69 4 ,080 3,7 82 4 ,167 63 59 54

60 58 ₅₀ 55

55 56 53 53 56 55 54 53 19 39 52

43 55 ₆₄

65 72 82

58 43 62 90 113 Q4 '08 Q 1 '09 Q 2 '09 Q 3 '09 Q4 '09 Q1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q 1 '11 Q2 '11 Q3'11 Q 4 '11 Q1'12 Q 2'12 Transfer Balance Cash Advance Retail

(55)

54 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%

92%

34%

24%

21%

25%

24%

7%

15%

12%

11%

15%

7%

2%

1%

0%

20%

40%

60%

80%

100%

(56)

55 IDR billion / % (Cons)

Q2 2012

FY’

Q2 2011

Y-o-Y 

(%)

Gross Loans

_350,417

_314,381

_276,708

26.6%

Government Bonds

_80,438

_78,459

_77,930

3.2%

Total Assets

_571,758

_551,892

_474,929

20.4%

Customer Deposits

_418,220

_422,251

_362,637

15.3%

Total Equity

_67,100

_62,654

_56,610

18.5%

RoA - before tax (p.a.)

_3.38%

_3.67%

RoE

–

after tax (p.a.)

_21.88%

_21.98%

_24.29%

Cost to Income

_43.56%

_46.13%

_39.01%

NIM (p.a.)

_5.24%

_5.11%

_5.20%

LDR

_83.43%

_74.06%

_75.92%

Gross NPL / Total Loans

_2.07%

_2.21%

_2.42%

Provisions / NPLs

_185.15%

_174.17%

_172.21%

Tier 1 CAR *

_16.17%

_14.86%

_16.17%

Total CAR

incl Credit & Opr Risk *

_16.21%

_15.18%

_16.78%

Total CAR incl. Credit, Opr & Market Risk*

_16.15%

_15.13%

_16.73%

EPS (Rp)

_306.30

_529.33

_270.98

13.0%

Book Value/Share (Rp)

_2,876

_2,708

_2,426

18.5%

Key Quarterly Balance Sheet Items & Financial

Ratios

(57)

56 Tot

al

Asse

ts

grew

17.3% Y

-o

-Y

to

Rp546.9

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

78.4

80.4

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

327.2

350.4

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

141.3

140.9

0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600 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 Q1'12 Q2'12 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% 8.5 % 6.1

% 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 % 90 .9 % 83 .4 % 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 Rp32.644 tn (US$ 3.476 bn) in written-off loans as of end-of June 2012, with

significant recoveries and write back 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)



9 Mo

09:

Rp1.489 tn (US$ 146.4 mn)



Q4 09:

Rp0.775 tn (US$ 82.5 mn)



Q1 10:

Rp0.287 tn (US$ 31.6 mn)



Q2 10:

Rp0.662 tn (US$ 73.0 mn)



Q3 10:

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



Q4 10:

Rp1.349 tn (US$149.7 mn)



Q1 11:

Rp0.468 tn (US$53.8 mn)



Q2 11:

Rp0.446 tn (US$51.9 mn)



Q3 11 :

Rp0.508 tn (US$57.8 mn)



Q4 11 :

Rp0.78 tn (US$86.1 mn)



Q1 12 :

Rp1.647tn (US$180.1mn)



Q2 12:

Rp0.721tn (US$76.8mn)

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

(1)

86 Eff

ici

en

cy meas

ures

rel

at

ive t

o

peers

Bank Onl

y,

As

of Marc

h

2012

40.6% 42.8% 45.3% 45.5% 46.9% 47.9% 49.1% 53.9% 63.9% 65.3% Mandiri BRI Panin BCA BNI

CIMB …

Danamon BII BTN Permata 441 423 421 317 258 256 237 194 142 41 Mandiri BCA BRI Panin

CIMB …

BNI BTN Permata BII Danamon 16,758 14,890 12,800 11,492 11,393 10,232 9,286 9,062 8,415 1,928 BCA Panin Mandiri BTN Permata BII

CIMB …

BNI BRI Danamon 12,332 11,744 10,457 10,157 9,936 9,314 8,938 7,071 6,739 1,911 Panin BTN BCA Mandiri Permata BII CIMB Niaga BRI BNI Danamon

Prof

it

/

Em

ploy

ee

(Rp

Mn

)

C

os

t/

I

nc

om

e

(%)

Loans/

Em

ploy

ee

(Rp

Mn

)

D

eposi

ts

/

Em

ploy

ee

(Rp

Mn

)

140 136 132 120 90 84 82 74 52 15 Mandiri BRI BCA Panin CIMB Niaga BTN BNI Permata BII Danamon

Pre

T

ax

I

nc

om

e/

Em

plo

y

ee

(Rp

Mn

)

6.7% 5.4% 4.8% 4.8% 4.7% 4.4% 4.3% 3.7% 3.4% 2.9% Danamon BII BCA Permata

CIMB …

BRI BNI BTN Mandiri Panin

C

os

t/

As

s

e

ts

(%)*

_*Ann

ua li z e d

A

v

e

rag

e

(2)

87 Measur

es

of s

cal

e and

retur

ns rel

at

ive t

o

peers

Bank Onl

y,

As

of Marc

h

2012

36.3% 23.5% 22.1% 21.3% 18.4% 17.8% 17.2% 15.6% 14.1% 9.3% BRI Mandiri BCA CIMB Niaga BNI Permata BTN Panin BII Danamon 1,804 1,603 1,548 1,364 946 911 655 445 362 280 BRI Danamon Mandiri BNI BCA CIMB Niaga BTN Panin BII Permata 8.4% 8.2% 6.0% 5.9% 5.8% 5.5% 5.2% 5.2% 5.2% 4.1% BRI Danamon BNI BTN CIMB Niaga Permata BCA Mandiri BII Panin 45,748 40,044 28,183 23,639 20,006 13,859 7,026 7,022 6,033 5,282 Danamon BRI Mandiri BNI BCA CIMB Niaga Permata BII 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

(%)

5.1% 3.3% 2.9% 2.8% 2.7% 2.1% 2.0% 2.0% 1.8% 1.6% BRI Mandiri CIMB Niaga BNI BCA Panin Danamon BTN Permata BII

R

et

urn

on

As

s

et

s

(Bef

ore

T

ax

)

(%)

8,996 8,836 8,341 6,227 1,791 1,258 1,201 937 759 722 Mandiri BCA BRI BNI CIMB Niaga Danamon BTN BII 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 A.G. Pahlevi 6221-299-16600 Agpahlevi@aaasecurities.com

BAHANA SECURITIES Teguh Hartanto 6221-250-5081 Teguh.Hartanto@bahana.co.id

BANK OF AMERICA MERRILL LYNCH Tay Chin Seng 65-6591-0419 Chinseng.Tay@baml.com

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

CLSA LIMITED Made Suardhini 6221-2554-8888 Made.Suardhini@clsa.com

CREDIT SUISSE Teddy Oetomo 6221-2553-7900 Teddy.Oetomo@credit-suisse.com

DANAREKSA SEKURITAS Chandra Sahala Pasaribu 6221-3509-777 Chandra@danareksa.com

DBS VICKERS SECURITIES Lim Sue Lin 603-2711-0971 Suelin@hwangdbsvickers.com.my

DAIWA CAPITAL MARKETS Srikanth Vadlamani 65-6499-6570 Srikanth.Vadlamani@sg.daiwacm.com

DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 6221-318-9523 Raymond.Kosasih@db.com

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

KIM ENG SECURITIES Rahmi Marina 6221-2557-1188 Marina@kimeng.co.id

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)

PT Bank Mandiri (Persero) Tbk.

Plaza Mandiri Jl. Jend. Gatot Subroto Kav. 36-38 Jakarta Selatan, Jakarta 12190 Indonesia

Tel. : +62 21 - 526 5045, 5299 7777 | Fax. : +62 21 - 526 8246 www.bankmandiri.co.id