2004 Q2 Summary Financials
BALANCE SHEETS
As of June 30, 2004, June 30, 2003 and April 30, 2003 (In millions of Rupiah)
April 30, 2003 April 30, 2003
(After Quasi-Reorganization) (After Quasi-Reorganization)
ASSETS
1 C a s h 2,045,659 1,906,030 1,816,952 2,104,041 1,942,110 1,846,539
2 Placements with Bank Indonesia - - -
a. Current Accounts with Bank Indonesia 8,980,576 9,935,690 9,573,319 9,378,637 10,016,375 9,643,221
b. Certificates of Bank Indonesia 9,985,580 15,466,962 11,177,812 10,177,081 15,832,712 11,490,312
c. Others 3,830,423 4,630,000 - 3,830,423 4,630,000
-3 Current Accounts with Other Banks - - -
a. Rupiah 3,716 2,669 2,078 12,737 11,179 17,402
b. Foreign currencies 502,731 706,503 343,091 607,229 718,424 398,843
4 Placements with Other Banks - - -
a. Rupiah 1,760,500 275,000 270,168 1,814,200 422,542 455,653
b. Foreign currencies 6,154,018 5,297,808 6,671,008 6,045,503 5,328,185 6,634,224
Allowance for possible losses on placements with other banks - / - (80,086) (62,844) (72,864) (81,144) (64,041) (73,933)
5 Securities - - -
a. Rupiah - - -
i. Trading - 70,750 - 193,479 80,343 4,237
ii. Available for sale 678,659 445,078 189,378 1,027,556 499,436 219,378
iii. Held to maturity 1,269,030 1,320,070 1,332,397 1,292,721 1,398,322 1,365,252
b. Foreign currencies - - -
i. Trading 98,472 169,663 151,006 156,203 169,663 151,006
ii. Available for sale 650,357 244,614 458,714 805,705 244,614 458,714
iii. Held to maturity 3,610,280 2,649,114 2,518,488 3,981,946 3,034,366 2,893,051
Allowance for possible losses on securities - / - (1,962,701) (1,872,200) (1,873,989) (1,966,201) (1,872,762) (1,875,326)
6 Government Bonds - - -
a. Trading 1,354,134 4,090,587 9,312,896 1,446,076 4,090,587 9,312,896
b. Available for Sale 33,473,998 29,509,080 35,625,964 33,473,998 29,509,080 35,625,964
c. Held to maturity 67,357,594 103,433,472 105,393,520 67,357,594 103,433,472 105,393,520
7 Securities Purchased with Agreements to Resell - - -
a. Rupiah - - - 228,244 -
b. Foreign currencies - - -
Allowance for possible losses on securities purchased with agreements to resell -/- - -
-8 Derivative Receivables 530,685 1,187,671 419,841 536,782 1,188,108 421,959
Allowance for possible losses on derivative receivables - / - (5,343) (11,877) (4,198) (5,343) (11,877) (4,198)
9 Loans - - -
a. Rupiah - - -
i Related parties 363,291 543,519 496,916 365,401 543,634 496,990
ii Third parties 47,503,371 39,387,020 39,961,150 51,052,789 40,788,291 41,245,530
b. Foreign currencies - - -
i Related parties 333,637 398,507 418,348 447,115 496,386 521,641
ii Third parties 29,344,824 24,555,418 26,742,088 30,384,341 24,958,442 27,139,752
Allowance for possible losses of loans - / - (8,706,684) (8,668,262) (10,025,120) (8,808,631) (8,712,913) (10,083,026)
10 Acceptances Receivable 4,745,686 2,605,307 2,783,898 4,746,755 2,605,307 2,791,637
Allowance for possible losses on acceptances receivable - / - (141,305) (73,163) (103,404) (141,305) (73,163) (103,404)
11 Investments in Shares of Stock 1,819,390 1,764,797 1,788,293 102,092 110,219 149,904
Allowance for possible losses on investments in shares of stock - / - (96,233) (32,454) (27,633) (96,233) (32,454) (27,633)
12 Accrued Income 1,299,633 2,171,093 3,219,538 1,312,554 2,174,522 3,232,512
13 Prepaid Expenses 252,473 146,884 268,494 294,625 188,606 289,068
14 Prepaid Taxes - 1,487,684 363,434 14,264 1,496,690 366,724
15 Deferred Tax Assets 2,160,282 2,974,345 2,922,870 2,161,716 2,975,546 2,923,968
16 Premises and Equipment 7,077,439 6,666,709 3,410,314 7,408,150 6,943,597 3,685,787
Accumulated depreciation - / - (1,898,123) (1,521,093) (1,488,487) (2,080,033) (1,678,017) (1,642,699)
17 Leased Assets 37,550 37,550 - 37,550 37,550
Accumulated depreciation for leased assets - / - (13,768) (6,258) - (13,768) (6,258)
-18 Repossessed Collateral 118,173 71,942 72,362 152,726 80,559 77,479
19 Other Assets 4,265,784 4,128,807 5,679,048 4,928,858 4,274,945 5,842,965
TOTAL ASSETS 228,703,702 256,032,192 259,787,690 234,686,433 257,772,327 261,285,909
BANK CONSOLIDATED
June 30, 2003 June 30, 2004 June 30, 2003
NO DESCRIPTION
(2)
BALANCE SHEETS
As of June 30, 2004, June 30, 2003 and April 30, 2003 (In millions of Rupiah)
April 30, 2003 April 30, 2003
(After Quasi-Reorganization)
(After Quasi-Reorganization) LIABILITIES AND SHAREHOLDERS' EQUITY
1 Demand Deposits
a. Rupiah 30,682,100 27,887,082 24,650,827 31,216,239 27,980,606 24,760,342
b. Foreign currencies 12,092,805 7,959,010 8,587,278 12,334,952 8,031,576 8,707,377
2 Immediately Payable Liabilities 1,127,102 1,004,021 619,723 1,173,146 1,031,465 659,125
3 Savings Deposits 42,258,495 31,939,697 29,681,284 43,534,956 32,546,064 30,130,336
4 Time Deposits - - -
a. Rupiah - - -
i Related parties 303,739 1,897,173 2,342,995 104,256 1,579,556 1,785,746
ii Third parties 68,061,252 94,801,206 102,114,291 70,076,377 95,619,089 102,851,708
b. Foreign currencies - - -
i Related parties 200,361 198,402 54,192 200,361 20,484 27,930
ii Third parties 13,594,645 18,352,837 18,708,347 14,149,665 18,592,557 18,960,959
5 Certificates of Deposit - - -
a. Rupiah 25 35 119 25 35 119
b. Foreign currencies - - -
-6 Deposit from Other Banks 6,349,760 13,622,375 13,741,764 6,597,416 13,698,513 13,790,831
7 Securities Sold with Agreements to Repurchase 2,342,500 3,077,500 735,000 2,404,633 3,077,500 735,000
8 Derivative Payables 104,089 14,985 10,621 105,070 17,730 13,128
9 Acceptances Payable 4,745,686 2,605,307 2,783,898 4,746,755 2,605,307 2,791,637
10 Securities Issued - - -
a. Rupiah 581,375 306,144 263,809 781,375 306,144 263,808
b. Foreign currencies 4,063,689 3,724,440 3,855,089 3,948,812 3,662,476 3,790,069
11 Fund Borrowings - - -
a. Funding Facilities from Bank Indonesia - - -
b. Others - - -
i. Rupiah - - -
- Related parties - - -
- Third parties 1,710,541 3,579,408 3,321,331 1,900,541 3,579,408 3,321,331
ii. Foreign currencies - - -
- Related parties - - -
- Third parties 2,849,835 5,093,371 9,336,948 2,849,835 5,093,371 9,336,948
12 Allowance for Possible Losses on Commitments and Contingencies 582,708 1,550,363 1,488,299 612,542 1,550,434 1,488,315
13 Obligations under Capital Leases 10,983 16,261 - 11,267 16,616 397
14 Accrued Expenses 400,517 751,698 953,623 438,416 770,017 974,474
15 Taxes Payable 547,854 1,277,764 865,398 579,810 1,291,034 875,792
16 Deferred Tax Liabilities - - -
-17 Other Liabilities 5,268,347 6,924,207 9,635,689 6,030,506 7,198,756 9,905,649
18 Subordinated Loans - - -
a. Related parties - - -
b. Third parties 5,073,081 5,553,211 5,869,077 5,105,081 5,585,211 5,901,077
19 Loan Capital - - -
a. Related parties - - -
b. Third parties 3,021,975 2,870,775 2,926,193 3,021,975 2,870,775 2,926,193
20 Minority Interests in Net Assets of Consolidated Subsidiaries - - - 3,642 3,423 3,238
- - - - -21 Shareholders' Equity - - -
a. Share Capital 10,000,000 10,000,000 4,251,000 10,000,000 10,000,000 4,251,000
b. Additional Paid-in Capital - - 10,675,418 - - 10,675,418
c. Agio 5,926,418 5,926,418 - 5,926,418 5,926,418
d. Share Options 19,793 - - 19,793 -
e. Differences Arising from Translation of Foreign Currency Financial Statements 25,364 9,604 16,267 99,398 19,076 48,498 f. Premises and Equipment Revaluation Increment 3,046,936 3,046,936 - 3,056,724 3,056,724 9,788 g. Unrealized Gain (Losses) on Securities and Government Recapitalization Bonds Available for Sale (266,480) 1,160,209 1,299,210 (264,149) 1,160,209 1,299,676
h. Other Comprehensive Income - - -
i. Differences Arising from Restructuring Transactions Among Entities Under Common Control - - -
j. Retained Earnings 3,978,207 881,753 1,000,000 3,978,207 881,753 1,000,000
k. Reacquired shares by subsidiary for trading purposes - - - (57,611) - -TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 228,703,702 256,032,192 259,787,690 234,686,433 257,772,327 261,285,909
NO DESCRIPTION
CONSOLIDATED BANK
(3)
(after quasi reorganization) (after quasi reorganization)
INCOME AND EXPENSES FROM OPERATIONS 1 Interest Income
1.1. Interest Income
a. Rupiah 8,293,018 12,588,583 4,113,770 8,474,813 8,548,687 12,697,076 4,167,052 8,530,024 b. Foreign currencies 1,057,642 1,077,307 282,058 795,249 1,098,129 1,103,208 291,438 811,770 1.2. Fees and Commissions on Loan Facilities - - - - - a. Rupiah 208,294 180,797 42,367 138,430 219,949 211,102 61,611 149,491 b. Foreign currencies 43,158 35,148 15,106 20,042 43,337 35,307 7,320 27,987
TOTAL INTEREST INCOME 9,602,112 13,881,835 4,453,301 9,428,534 9,910,102 14,046,693 4,527,421 9,519,272 2 Interest Expense
2.1. Interest Expense
a. Rupiah 4,339,415 9,640,966 3,027,549 6,613,417 4,453,424 9,685,302 3,047,876 6,637,426 b. Foreign currencies 464,070 713,339 244,811 468,528 478,568 720,693 247,197 473,496 2.2. Other Financing Expenses - - - - -
-TOTAL INTEREST EXPENSE - / - 4,803,485 10,354,305 3,272,360 7,081,945 4,931,992 10,405,995 3,295,073 7,110,922 NET INTEREST INCOME 4,798,627 3,527,530 1,180,941 2,346,589 4,978,110 3,640,698 1,232,348 2,408,350 3 Other Operating Income
3.1. Other Fees and Commissions 538,798 313,156 120,256 192,900 588,591 339,973 143,203 196,770 3.2. Foreign Exchange Gain *) 283,857 114,023 34,142 79,881 285,254 112,863 32,319 80,544 3.3. a. Gain from sale of Securities and Government Recapitalization Bonds **) 854,219 1,363,938 1,039,516 324,422 859,214 1,363,938 1,039,516 324,422 b. Gain from Increase in Value of Securities and Government Recapitalization Bonds **) 70,062 282,844 - 717,298 91,052 282,844 - 717,298 3.4. Others 257,213 293,115 139,009 154,106 302,772 293,481 123,059 170,422
TOTAL OTHER OPERATING INCOME 2,004,149 2,367,076 1,332,923 1,468,607 2,126,883 2,393,099 1,338,097 1,489,456 4 Provision for Possible Losses on Earning Assets 60,326 554,595 20,244 534,351 106,724 563,425 29,074 534,351
5 Provision (Reversal of Allowance) for Possible Losses on Commitments and Contingencies (43,520) 352,128 146,811 205,317 (14,274) 352,096 146,779 205,317
6 Provision (Reversal of Allowance) for Possible Losses on Other Assets - 1,603 505 1,098 - 1,603 505 1,098
7 Other Operating Expenses - - - - - -7.1. General and Administrative Expenses 990,354 754,724 273,005 481,719 1,113,657 821,179 295,872 525,307 7.2. Salaries and Employee Benefits 1,070,926 876,829 283,898 592,931 1,159,786 929,960 299,509 630,451 7.3. a. Losses from sale of Securities and Government Recapitalization Bonds **) - - - - - b. Losses from Decrease in Value of Securities and Government Recapitalization Bonds **) - - 434,454 - - - 434,454 -7.4. Foreign Exchange Loss *) - - - - - -7.5. Others - net 314,113 296,599 118,463 178,136 316,499 308,437 122,102 186,335
TOTAL OTHER OPERATING EXPENSES - / - 2,375,393 1,928,152 1,109,820 1,252,786 2,589,942 2,059,576 1,151,937 1,342,093 PROFIT FROM OPERATIONS 4,410,577 3,058,128 1,236,484 1,821,644 4,422,601 3,057,097 1,242,150 1,814,947 NON OPERATING INCOME (EXPENSES)
8 Non-Operating Income 42,047 206,337 8,660 197,677 65,042 220,555 7,007 213,548 9 Non-Operating Expenses 23,803 127,399 2,501 124,898 34,415 130,929 (649) 131,578
NON OPERATING INCOME - NET 18,244 78,938 6,159 72,779 30,627 89,626 7,656 81,970
10 Extraordinary Income / Expenses - - - - -
-11 PROFIT BEFORE CORPORATE INCOME TAX EXPENSE AND MINORITY INTERESTS 4,428,821 3,137,066 1,242,643 1,894,423 4,453,228 3,146,723 1,249,806 1,896,917 12 Corporate Income Tax Expense /
-- Current Tax 1,179,870 1,277,764 412,366 865,398 1,204,105 1,288,386 419,446 868,940 - Deferred Tax 176,388 (379,966) (51,476) (328,490) 176,391 (380,858) (51,578) (329,280)
13 PROFIT BEFORE MINORITY INTERESTS 3,072,563 2,239,268 881,753 1,357,515 3,072,732 2,239,195 881,938 1,357,257
14 Minority Interests in Net Profit of Consolidated Subsidiaries - - - - (169) (73) (185) 258
15 Retained Earnings (Accumulated Losses) at Beginning of Period 3,228,574 (161,302,575) 1,000,000 (161,302,575) 3,228,574 (161,302,575) 1,000,000 (161,302,575) 16 Conversion of Appropriated Retained Earnings to Share Capital - (1,000,000) (1,000,000) - - (1,000,000) (1,000,000) -17 Dividend 2,322,930 (1,792,794) - (1,792,794) (2,300,000) (1,792,794) - (1,792,794)
Others - (137,047) - (137,047) (22,930) (137,047) - (137,047)
18 Retained Earnings (Accumulated Losses) at End of Period 3,978,207 (161,993,148) 881,753 (161,874,901) 3,978,207 (161,993,148) 881,753 (161,874,901) 19 Accumulated Losses off-set against additional paid-in capital/agio - 162,874,901 162,874,901- - 162,874,901 - 162,874,901
20 Retained Earnings after Quasi Reorganization (Accumulated Losses) 3,978,207 881,753 881,753 1,000,000 3,978,207 881,753 881,753 1,000,000 21 EARNINGS PER SHARE (In Rupiah Full Amount)
- Basic - - - - 154.22 111.96 44.09 67.88 - Diluted - - - - 152.94 111.03 43.72 67.31 *) Presented as net of gain (loss) from foreign exchange transactions
**) Presented as a net of gain (losses) from increase (decrease) in value of securities and Government Bond
BANK
January 1, 2004 to June 30, 2004
January 1, 2003 to June 30, 2003
May 1, 2003 to June 30, 2003
January 1, 2003 to April
30, 2003 January 1, 2004 to June 30, 2004
January 1, 2003 to June 30, 2003
May 1, 2003 to June 30, 2003
(In millions of Rupiah)
STATEMENTS OF PROFIT AND LOSS
For the periods from January 1, 2004 to June 30, 2004 and January 1, 2003 to June 30, 2003, January 1, 2003 to April 30, 2003 and May 1, 2003 to June 30, 2003
January 1, 2003 to April 30, 2003 DESCRIPTION
(4)
STATEMENTS OF COMMITMENTS AND CONTINGENCIES As of June 30, 2004 and 2003
(In millions of Rupiah)
COMMITMENTS
COMMITMENT RECEIVABLES
1 Unused fund borrowing facilities
a. Rupiah - - -
b. Foreign currencies - - - 2,066
2 Others - 20,387 - 20,387
TOTAL COMMITMENT RECEIVABLES - 20,387 - 22,453
COMMITMENT PAYABLES 1 Unused loan facilities
a. Rupiah 15,038,258 9,450,163 15,056,886 9,502,027
b. Foreign currencies 3,519,225 3,386,215 3,521,102 3,392,248
2 Outstanding irrevocable letters of credit 5,831,907 5,096,794 6,135,898 5,278,159
3 Others - 91,547 - 91,547
TOTAL COMMITMENT PAYABLES 24,389,390 18,024,719 24,713,886 18,263,981
COMMITMENT PAYABLES - NET (24,389,390) (18,004,332) (24,713,886) (18,241,528)
CONTINGENCIES
CONTINGENT RECEIVABLES
1 Guarantees received
a. Rupiah 110,082 145,071 110,082 145,071
b. Foreign currencies 1,887,536 1,145,905 1,887,536 1,214,918
2 Unrecognized interest income - - -
a. Rupiah 1,302,990 1,778,783 1,302,990 1,778,783
b. Foreign currencies 912,063 1,346,206 912,063 1,346,206
3 Others 34,282 37,667 34,282 37,667
TOTAL CONTINGENT RECEIVABLES 4,246,953 4,453,632 4,246,953 4,522,645
CONTINGENT PAYABLES
1 Guarantees issued
a. Bank guarentees
a. Rupiah 2,772,271 2,245,727 2,824,824 2,247,035
b. Foreign currencies 6,526,243 4,718,244 6,563,754 4,728,401
b. Others - - 19,494
-2 Outstanding revocable letters of credit - - -
-3 Others 35,107 27,233 36,519 30,738
TOTAL CONTINGENT PAYABLES 9,333,621 6,991,204 9,444,591 7,006,174
CONTINGENT PAYABLES - NET (5,086,668) (2,537,572) (5,197,638) (2,483,529)
BOARDS OF COMMISSIONERS AND DIRECTORS Jakarta, August 31, 2004
Board of Commissioners
- Chairman : Binhadi S. E & O
- Deputy Chairman : Markus Parmadi Board of Directors
- Commissioner : Darmin Nasution PT Bank Mandiri (Persero) Tbk.
- Commissioner : Arie Soelendro
- Commissioner : Fransiska Oei
- Commissioner : A. Tony Prasetiantono
- Commissioner : Riswinandi
Board of Directors
- President Director : E.C.W. Neloe
- Deputy President Director : I Wayan Pugeg
- Director : I Wayan Agus Mertayasa E.C.W. Neloe I Wayan Pugeg
- Director : M. Sholeh Tasripan President Director Deputy President Director
- Director : Omar Sjawaldy Anwar
- Director : Ventje Rahardjo
- Director : Nimrod Sitorus *)
- Director : J.B. Kendarto
- Director : Zulkifli Zaini
*) Acting as Compliance Director and Corpoate Secretary
Notes :
1. The above financial information have been prepared for the purpose of complying with Bank Indonesia’s Regulation No. 3/22/PBI dated December 13, 2001 regarding Transparency of Banks’ Financial Condition, Bank Indonesia’s Circular Letter No. 3/30/DPNP dated December 14, 2001 regarding Presentation of Quarterly and Monthly Published Financial Statements
of Commercial Banks and Certain Report Submitted to Bank Indonesia, Bank Indonesia Regulation No. 4/7/PBI/2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit
by Commercial Bank from the Indonesian Bank Restructuring Agency (IBRA), Bank Indonesia's Circular Letter No. 5/559/DPNP/IDPnP dated December 24, 2003 regarding Bank's Published Financial Statements
and Rule No. X.K.2 Decision of the Chairman of Bapepam Attachment No. Kep-36/PM/2003 dated September 30, 2003regarding Obligation to Submit Periodic Financial Statements.
2. The above financial information as of June 30, 2004 and for the six-month period then ended, as of April 30, 2003 (after quasi-reorganization) and for the four-month period then ended, and as of June 30, 2003 and for the two month period then ended, is derived from the consolidated financial statements that have been audited by Prasetio, Sarwoko & Sandjaja, public accounting firm, a member of Ernst & Young Global (Partner In-charge: Drs. Sandjaja) with an "unqualified opinion".
3. Quasi-reorganization was effective as of April 30, 2003 based on the Resolution of the Extraordinary General Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk. dated October 30, 2003. The accumulated deficit of Rp162,874,901 million was eliminated against additional paid-in capital/agio at quasi-reorganization as of April 30, 2003. As the result of quasi-reorganization as of April 30, 2003, the accumulated losses and additional paid-in capital/agio in the financial information as of June 30, 2003 have been restated.
4. For comparative purposes, certain accounts in the financial information for the four month period ended April 30, 2003 and for the two month period ended June 30, 2003 have been reclassified to conform with the presentation of accounts in the financial information as of and for the six-month period ended June 30, 2004.
5. Exchange rate of 1 US Dollar as of June 30, 2004 and 2003, April 30, 2003 was Rp 9,385, Rp 8,265 and Rp 8,675.50, respectively.
6. Basic and diluted earnings per share are calculated by dividing the net profit/loss with the weighted average number of shares issued and fully paid during the period, after considering the effects of conversion of additional paid-in capital and retained earnings to issued and fully paid-up capital, stock split and stock options, and repurchsed shares by subsidiary for trading purposes.
BANK CONSOLIDATED
Public : 30%
June 30, 2003
SHAREHOLDERS
Republic of Indonesia : 70% (Ultimate Shareholder)
NO DESCRIPTION
(5)
SPECIAL SUB SPECIAL SUB
MENTION STANDARD MENTION STANDARD
A Related Parties
1
Placement with other banks 425,490 - - - - 425,490 387,149 - - - - 387,149 2
Securities Held *) 102,525,198 - - - - 102,525,198 137,373,366 - - - - 137,373,366 3
Loan to related parties 549,779 242 - - 146,907 696,928 518,018 368,135 - - 55,873 942,026
a. Small scale business credit (KUK) - - - - - - - - - -b. Property Loans 26,841 136 - - - 26,977 27,124 743 - - - 27,867
i. Restructured 17,350 - - - - 17,350 20,600 - - - - 20,600 ii. Unrestructured 9,491 136 - - - 9,627 6,524 743 - - - 7,267 c. Other restructured loans 173,494 - - - 146,907 320,401 188,879 367,294 - - 55,873 612,046 d. Others 349,444 106 - - - 349,550 302,015 98 - - - 302,113 4
Investment in shares of stock of related parties 1,727,026 - - - 5,159 1,732,185 1,655,011 - - - 8,106 1,663,117
a. In bank financial institutions 903,047 - - - - 903,047 901,671 - - - - 901,671 b. In non bank financial institutions 694,610 - - - 5,159 699,769 628,709 - - - 8,106 636,815 c. Due to loan restructuring - - -
-d. Others 129,369 - - - - 129,369 124,631 - - - - 124,631 5
Other receivables from related parties - - - - - - - -6
Commitments and contingencies to related parties - - - - - - -
-B Third Parties
1
Placement with other banks 11,825,898 - - - - 11,825,898 10,524,831 - - - - 10,524,831 2
Securities Held (issued by Bank Indonesia and third parties) 14,125,913 - - - 1,826,993 15,952,906 18,238,725 - - - 1,787,299 20,026,024 3
Loan to third parties 60,444,507 9,911,685 2,226,246 455,769 3,809,988 76,848,195 44,104,841 15,069,913 1,410,627 1,365,190 1,991,867 63,942,438
a. Small scale business credit (KUK) 2,524,964 460,828 58,293 31,462 207,278 3,282,825 1,964,717 593,889 58,244 103,969 207,800 2,928,619 b. Property Loans 2,249,880 784,520 236,804 13,262 87,824 3,372,290 1,657,067 1,111,228 44,464 88,984 279,713 3,181,456
i. Restructured 400,403 639,582 56,733 38 430 1,097,186 317,775 808,836 358 62,300 234,660 1,423,929 ii. Unrestructured 1,849,477 144,938 180,071 13,224 87,394 2,275,104 1,339,292 302,392 44,106 26,684 45,053 1,757,527 c. Other restructured loans 13,022,290 5,103,950 1,299,699 59,714 776,749 20,262,402 11,639,296 9,560,273 828,505 617,339 1,202,486 23,847,899 d. Others 42,647,373 3,562,387 631,450 351,331 2,738,137 49,930,678 28,843,761 3,804,523 479,414 554,898 301,868 33,984,464 4
Investment in shares of stock of third parties 3,000 - - - 84,205 87,205 78,209 - - - 23,471 101,680
a. In bank financial institutions - - - - - - - - 10,715 10,715 b. In non bank financial institutions - - - - - - - -c. Due to loan restructuring - - - - 82,250 82,250 72,920 - - - 9,530 82,450 d. Others 3,000 - - - 1,955 4,955 5,289 - - - 3,226 8,515 5
Other receivables from third parties 4,957,775 150,423 167,980 2,400 - 5,278,578 3,797,755 131,885 - - - 3,929,640 6
Commitments and contingencies to third parties 14,571,626 551,725 5,887 - 1,183 15,130,421 10,194,018 1,769,723 34,113 32,309 30,600 12,060,763
211,156,212
10,614,075 2,400,113 458,169 5,874,435 230,503,004 226,871,923 17,339,656 1,444,740 1,397,499 3,897,216 250,951,034
7 Required allowance for losses on earning assets **) 1,385,191 1,064,285 316,490 229,969 5,733,712 8,729,647 1,675,693 1,508,496 187,913 662,419 3,691,103 7,725,624 8 Established allowance for losses on earning assets 2,263,349 2,096,917 1,016,170 458,170 5,740,454 11,575,060 3,656,984 3,049,500 620,894 1,252,684 3,691,103 12,271,165 9 Value of bank's assets pledge as collateral :
a. To Bank Indonesia b. To other banks
10 Percentage of small scale business credit to total loans 4.23% 4.51%
11 Percentage of small scale business credit debtors to total debtors 30.01% 32.69%
*)Include Government Bond (recapitalization program)
**)The calculation of allowance of earning assets should be provided after deducted by collaterals, certificates of Bank Indonesia, Bank Indonesia intervention and Government Bonds.
TOTAL
CURRENT DOUBTFUL LOSS CURRENT DOUBTFUL LOSS TOTAL
JUNE 30, 2004 JUNE 30, 2003
(in millions of Rupiah)
EARNING ASSETS QUALITY AND OTHER INFORMATION As of June 30, 2004 and 2003
No ACCOUNT
B A N K
(6)
FOREIGN EXCHANGE TRANSACTIONS AND DERIVATIVES
As of June 30, 2004
(in millions of Rupiah)
BANK
Contract Value with
Hedging
Others
Receivable
Payable
Netting Agreement
A.
Exchange Rate Related
1
Spot
-
18,028
-
-
-2
Forward
-
656,284
8,682
2,678
-3
Option
a. Purchased
-
34,109
-
226
-b. Sold
-
28,318
423
-
-4
Future
-
-
-
-
-5
Swap
-
4,033,072
503,046
27,330
-6
Other
-
-
-
-
-B
Interest Rate Related
1
Forward
-
-
-
-
-2
Option
a. Purchased
-
-
-
-
-b. Sold
-
-
-
-
-3
Future
-
-
-
-
-4
Swap
-
-
-
-
-5
Other
73,855
18,534
18,534
73,855
-C
Other
-
-
-
-
-TOTAL
530,685
104,089
Contract Market Value
Derivative Receivable & Payable
(7)
I.
Capital
1.
CAR
27.52%
30.73%
2.
Premises and Equipment to Capital *)
19.66%
21.18%
II.
Earning Assets
1.
Non-Performing Earning Assets
3.79%
2.69%
2.
NPL :
- Gross NPL
8.56%
7.43%
- Net NPL
1.75%
2.02%
3.
Allowance for Possible Losses on Earning Assets
5.02%
4.89%
4.
Compliance for Allowance for Possible Losses on Earning Assets
132.59%
158.84%
III.
Rentability
1.
ROA
3.76%
2.44%
2.
ROE
31.59%
29.25%
3.
NIM
4.57%
2.98%
4.
Operating Expenses to Operating Income **)
62.00%
81.18%
IV.
Liquidity
LDR
46.32%
35.38%
V.
Compliance
1.
a. Percentage Violation of Legal Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-b. Percentage of Lending in Excess of the Legal
Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-2
Reserve Requirement (Rupiah)
5.08%
5.26%
3
Net Open Position
3.80%
9.06%
*) Premises and equipment are computed after deducted by accumulated depreciation.
**) Operating expenses include interest expenses, provision for possible losses on earning assets, provision for
possible losses on other assets divided by operational income include interest income.
FINANCIAL RATIOS
As of June 30, 2004 and 2003
Bank
KEY RATIOS
NO
(8)
I. COMPONENTS
A. Core Capital
19,086,768
16,351,161
1. Paid-Up Capital
10,000,000
10,000,000
2. Disclosed Reserves
a. Agio
5,926,418
5,926,418
b. Disagio (-/-)
-
-c. Donated Capital / Additional Paid-In Capital
-
-d. Funds for Paid-Up Capital - Shares Option
19,793
-e. General and Appropriated Reserves
747,000
-f. Previous Years Profit After Tax
743,716
-g. Previous Years Losses (-/-)
-
-h. Current Year Profit After Tax (50%)
-
-i. Current Year Losses (-/-)
1,624,477
415,139
j. Differences Arising from Translation of Financial Statements
-
in Foreign Currencies
-
1) Positive Adjustment
-
2) Negative Adjustment (-/-)
25,364
9,604
k. Funds for Paid-Up Capital
-
-l. Decline in Value of Equity Participation in Available for Sale Portfolio (-/-)
-
-m. Differences Arising from Restructuring of Transaction among Entities
-
under Common Control
-
3. Goodwill (-/-)
-
B. Supplemental Capital (Max 100% of core capital)
9,115,198
9,776,035
1. Reserve for Premises and Equipment Revaluation
3,046,936
3,046,936
2. General Reserves of Allowance for Possible Losses on Earning Assets
(max 1.25% of risk weighted assets)
1,201,881
994,338
3. Loan Capital
1,894,367
1,922,366
4. Subordinated Loans (max 50% of core capital)
2,972,014
3,812,395
5. Increase in Value of Equity Participation in Available for Sale Portfolio (45%)
-
-II. Total Core Capital and Supplemental Capital (A+B)
28,201,966
26,127,196
III. Investments in Shares of Stock (-/-)
(1,737,140)
(1,681,147)
IV. Total Capital (II-III)
26,464,826
24,446,049
V. Risk-Weighted Assets
96,150,458
79,547,079
VI. Established Capital Adequacy Ratio (IV : V)
27.52%
30.73%
VII. Required Minimum Capital Adequacy Ratio
8%
8%
CALCULATION OF CAR
As of June 30, 2004 and 2003
Bank
DESCRIPTION
NO
(in millions of Rupiah)
(9)
a. Summary of loan purchased from IBRA
1
Loan principal / outstanding balance as of June 30, 2004
5,393,449
2
Amount of loans purchased from January 1, 2002 - June 30, 2004
5,579,541
3
Total provision for loan losses / deferred income
344,480
4
Allowance for possible loan losses as of June 30, 2004
2,044,207
5
Interest income from January 1, 2004 - June 30, 2004
126,342
b. Summary of movement of loans purchased from IBRA
1
Beginning Balance
5,249,139
2
Foreign currency translation
429,351
3
Additional loan purchased during the period
-4
Repayment during the period
(171,345)
5
Loans written off during the period
(113,696)
6
Ending Balance
5,393,449
c. Summary of movement of allowance for possible loan losses derived from the difference
between purchase price and loan principal
1
Beginning Balance
186,972
2
Foreign Currency translation
19,802
3
Additional allowance for possible loan losses of loans purchased from IBRA during the period
-4
Allowance for possible loan losses for loans written off
-5
Reversal of provision for loan losses due to the repayment over purchase price
(8,915)
6
Ending Balance
197,859
d. Summary of movement of deferred income derived from the difference between purchase
price and loan principal
1
Beginning Balance
209,574
2
Foreign currency translation
16,644
3
Additional deferred income of loans purchased from IBRA during the period
-4
Deferred income for loans written off
(79,412)
5
Reversal of deferred income due to the repayment over purchase price
(185)
6
Ending Balance
146,621
e.
Loans covered by new credit agreements
3,484,953
f.
Additional facility extended to debtors under loans purchased from IBRA
380,615
NO
DESCRIPTION
Amount
DESCRIPTION
Amount
DESCRIPTION
Amount
NO
(Based on Bank Indonesia's Regulation No. 4/7/PBI/2002 dated September 27, 2002 Chapter VI section 24)
LOAN PURCHASED FROM IBRA
January 1, 2004 to June 30, 2004
(In millions of Rupiah)
NO
DESCRIPTION
Amount
(1)
STATEMENTS OF COMMITMENTS AND CONTINGENCIES As of June 30, 2004 and 2003
(In millions of Rupiah)
COMMITMENTS
COMMITMENT RECEIVABLES
1 Unused fund borrowing facilities
a. Rupiah - - - b. Foreign currencies - - - 2,066
2 Others - 20,387 - 20,387
TOTAL COMMITMENT RECEIVABLES - 20,387 - 22,453 COMMITMENT PAYABLES
1 Unused loan facilities
a. Rupiah 15,038,258 9,450,163 15,056,886 9,502,027
b. Foreign currencies 3,519,225 3,386,215 3,521,102 3,392,248 2 Outstanding irrevocable letters of credit 5,831,907 5,096,794 6,135,898 5,278,159
3 Others - 91,547 - 91,547
TOTAL COMMITMENT PAYABLES 24,389,390 18,024,719 24,713,886 18,263,981
COMMITMENT PAYABLES - NET (24,389,390) (18,004,332) (24,713,886) (18,241,528)
CONTINGENCIES
CONTINGENT RECEIVABLES
1 Guarantees received
a. Rupiah 110,082 145,071 110,082 145,071 b. Foreign currencies 1,887,536 1,145,905 1,887,536 1,214,918 2 Unrecognized interest income - - -
a. Rupiah 1,302,990 1,778,783 1,302,990 1,778,783
b. Foreign currencies 912,063 1,346,206 912,063 1,346,206
3 Others 34,282 37,667 34,282 37,667
TOTAL CONTINGENT RECEIVABLES 4,246,953 4,453,632 4,246,953 4,522,645
CONTINGENT PAYABLES 1 Guarantees issued
a. Bank guarentees
a. Rupiah 2,772,271 2,245,727 2,824,824 2,247,035
b. Foreign currencies 6,526,243 4,718,244 6,563,754 4,728,401 b. Others - - 19,494 -2 Outstanding revocable letters of credit - - -
-3 Others 35,107 27,233 36,519 30,738
TOTAL CONTINGENT PAYABLES 9,333,621 6,991,204 9,444,591 7,006,174
CONTINGENT PAYABLES - NET (5,086,668) (2,537,572) (5,197,638) (2,483,529)
BOARDS OF COMMISSIONERS AND DIRECTORS Jakarta, August 31, 2004
Board of Commissioners
- Chairman : Binhadi S. E & O
- Deputy Chairman : Markus Parmadi Board of Directors
- Commissioner : Darmin Nasution PT Bank Mandiri (Persero) Tbk.
- Commissioner : Arie Soelendro
- Commissioner : Fransiska Oei
- Commissioner : A. Tony Prasetiantono
- Commissioner : Riswinandi
Board of Directors
- President Director : E.C.W. Neloe - Deputy President Director : I Wayan Pugeg
- Director : I Wayan Agus Mertayasa E.C.W. Neloe I Wayan Pugeg
- Director : M. Sholeh Tasripan President Director Deputy President Director
- Director : Omar Sjawaldy Anwar
- Director : Ventje Rahardjo
- Director : Nimrod Sitorus *)
- Director : J.B. Kendarto
- Director : Zulkifli Zaini
*) Acting as Compliance Director and Corpoate Secretary
Notes :
1. The above financial information have been prepared for the purpose of complying with Bank Indonesia’s Regulation No. 3/22/PBI dated December 13, 2001 regarding Transparency of Banks’ Financial Condition, Bank Indonesia’s Circular Letter No. 3/30/DPNP dated December 14, 2001 regarding Presentation of Quarterly and Monthly Published Financial Statements
of Commercial Banks and Certain Report Submitted to Bank Indonesia, Bank Indonesia Regulation No. 4/7/PBI/2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit
by Commercial Bank from the Indonesian Bank Restructuring Agency (IBRA), Bank Indonesia's Circular Letter No. 5/559/DPNP/IDPnP dated December 24, 2003 regarding Bank's Published Financial Statements
and Rule No. X.K.2 Decision of the Chairman of Bapepam Attachment No. Kep-36/PM/2003 dated September 30, 2003regarding Obligation to Submit Periodic Financial Statements.
2. The above financial information as of June 30, 2004 and for the six-month period then ended, as of April 30, 2003 (after quasi-reorganization) and for the four-month period then ended, and as of June 30, 2003 and for the two month period then ended, is derived from the consolidated financial statements that have been audited by Prasetio, Sarwoko & Sandjaja, public accounting firm, a member of Ernst & Young Global (Partner In-charge: Drs. Sandjaja) with an "unqualified opinion".
3. Quasi-reorganization was effective as of April 30, 2003 based on the Resolution of the Extraordinary General Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk. dated October 30, 2003. The accumulated deficit of Rp162,874,901 million was eliminated against additional paid-in capital/agio at quasi-reorganization as of April 30, 2003. As the result of quasi-reorganization as of April 30, 2003, the accumulated losses and additional paid-in capital/agio in the financial information as of June 30, 2003 have been restated.
4. For comparative purposes, certain accounts in the financial information for the four month period ended April 30, 2003 and for the two month period ended June 30, 2003 have been reclassified to conform with the presentation of accounts in the financial information as of and for the six-month period ended June 30, 2004.
5. Exchange rate of 1 US Dollar as of June 30, 2004 and 2003, April 30, 2003 was Rp 9,385, Rp 8,265 and Rp 8,675.50, respectively.
6. Basic and diluted earnings per share are calculated by dividing the net profit/loss with the weighted average number of shares issued and fully paid during the period, after considering the effects of conversion of additional paid-in capital and retained earnings to issued and fully paid-up capital, stock split and stock options, and repurchsed shares by subsidiary for trading purposes.
BANK CONSOLIDATED
Public : 30%
June 30, 2003
SHAREHOLDERS
Republic of Indonesia : 70% (Ultimate Shareholder)
NO DESCRIPTION
(2)
SPECIAL SUB SPECIAL SUB
MENTION STANDARD MENTION STANDARD
A Related Parties
1
Placement with other banks 425,490 - - - - 425,490 387,149 - - - - 387,149 2
Securities Held *) 102,525,198 - - - - 102,525,198 137,373,366 - - - - 137,373,366 3
Loan to related parties 549,779 242 - - 146,907 696,928 518,018 368,135 - - 55,873 942,026
a. Small scale business credit (KUK) - - - - - - - - - -b. Property Loans 26,841 136 - - - 26,977 27,124 743 - - - 27,867
i. Restructured 17,350 - - - - 17,350 20,600 - - - - 20,600 ii. Unrestructured 9,491 136 - - - 9,627 6,524 743 - - - 7,267 c. Other restructured loans 173,494 - - - 146,907 320,401 188,879 367,294 - - 55,873 612,046 d. Others 349,444 106 - - - 349,550 302,015 98 - - - 302,113 4
Investment in shares of stock of related parties 1,727,026 - - - 5,159 1,732,185 1,655,011 - - - 8,106 1,663,117
a. In bank financial institutions 903,047 - - - - 903,047 901,671 - - - - 901,671 b. In non bank financial institutions 694,610 - - - 5,159 699,769 628,709 - - - 8,106 636,815 c. Due to loan restructuring - - -
-d. Others 129,369 - - - - 129,369 124,631 - - - - 124,631 5
Other receivables from related parties - - - - - - - -6
Commitments and contingencies to related parties - - - - - - -
-B Third Parties
1
Placement with other banks 11,825,898 - - - - 11,825,898 10,524,831 - - - - 10,524,831 2
Securities Held (issued by Bank Indonesia and third parties) 14,125,913 - - - 1,826,993 15,952,906 18,238,725 - - - 1,787,299 20,026,024 3
Loan to third parties 60,444,507 9,911,685 2,226,246 455,769 3,809,988 76,848,195 44,104,841 15,069,913 1,410,627 1,365,190 1,991,867 63,942,438
a. Small scale business credit (KUK) 2,524,964 460,828 58,293 31,462 207,278 3,282,825 1,964,717 593,889 58,244 103,969 207,800 2,928,619 b. Property Loans 2,249,880 784,520 236,804 13,262 87,824 3,372,290 1,657,067 1,111,228 44,464 88,984 279,713 3,181,456
i. Restructured 400,403 639,582 56,733 38 430 1,097,186 317,775 808,836 358 62,300 234,660 1,423,929 ii. Unrestructured 1,849,477 144,938 180,071 13,224 87,394 2,275,104 1,339,292 302,392 44,106 26,684 45,053 1,757,527 c. Other restructured loans 13,022,290 5,103,950 1,299,699 59,714 776,749 20,262,402 11,639,296 9,560,273 828,505 617,339 1,202,486 23,847,899 d. Others 42,647,373 3,562,387 631,450 351,331 2,738,137 49,930,678 28,843,761 3,804,523 479,414 554,898 301,868 33,984,464 4
Investment in shares of stock of third parties 3,000 - - - 84,205 87,205 78,209 - - - 23,471 101,680
a. In bank financial institutions - - - - - - - - 10,715 10,715 b. In non bank financial institutions - - - - - - - -c. Due to loan restructuring - - - - 82,250 82,250 72,920 - - - 9,530 82,450 d. Others 3,000 - - - 1,955 4,955 5,289 - - - 3,226 8,515 5
Other receivables from third parties 4,957,775 150,423 167,980 2,400 - 5,278,578 3,797,755 131,885 - - - 3,929,640 6
Commitments and contingencies to third parties 14,571,626 551,725 5,887 - 1,183 15,130,421 10,194,018 1,769,723 34,113 32,309 30,600 12,060,763
211,156,212
10,614,075 2,400,113 458,169 5,874,435 230,503,004 226,871,923 17,339,656 1,444,740 1,397,499 3,897,216 250,951,034
7 Required allowance for losses on earning assets **) 1,385,191 1,064,285 316,490 229,969 5,733,712 8,729,647 1,675,693 1,508,496 187,913 662,419 3,691,103 7,725,624 8 Established allowance for losses on earning assets 2,263,349 2,096,917 1,016,170 458,170 5,740,454 11,575,060 3,656,984 3,049,500 620,894 1,252,684 3,691,103 12,271,165 9 Value of bank's assets pledge as collateral :
a. To Bank Indonesia b. To other banks
10 Percentage of small scale business credit to total loans 4.23% 4.51%
11 Percentage of small scale business credit debtors to total debtors 30.01% 32.69%
*)Include Government Bond (recapitalization program)
**)The calculation of allowance of earning assets should be provided after deducted by collaterals, certificates of Bank Indonesia, Bank Indonesia intervention and Government Bonds.
TOTAL
CURRENT DOUBTFUL LOSS CURRENT DOUBTFUL LOSS TOTAL
JUNE 30, 2004 JUNE 30, 2003
(in millions of Rupiah)
EARNING ASSETS QUALITY AND OTHER INFORMATION As of June 30, 2004 and 2003
No ACCOUNT
B A N K
(3)
FOREIGN EXCHANGE TRANSACTIONS AND DERIVATIVES
As of June 30, 2004
(in millions of Rupiah)
BANK
Contract Value with
Hedging
Others
Receivable
Payable
Netting Agreement
A.
Exchange Rate Related
1
Spot
-
18,028
-
-
-2
Forward
-
656,284
8,682
2,678
-3
Option
a. Purchased
-
34,109
-
226
-b. Sold
-
28,318
423
-
-4
Future
-
-
-
-
-5
Swap
-
4,033,072
503,046
27,330
-6
Other
-
-
-
-
-B
Interest Rate Related
1
Forward
-
-
-
-
-2
Option
a. Purchased
-
-
-
-
-b. Sold
-
-
-
-
-3
Future
-
-
-
-
-4
Swap
-
-
-
-
-5
Other
73,855
18,534
18,534
73,855
-C
Other
-
-
-
-
-TOTAL
530,685
104,089
Contract Market Value
Derivative Receivable & Payable
(4)
I.
Capital
1.
CAR
27.52%
30.73%
2.
Premises and Equipment to Capital *)
19.66%
21.18%
II.
Earning Assets
1.
Non-Performing Earning Assets
3.79%
2.69%
2.
NPL :
- Gross NPL
8.56%
7.43%
- Net NPL
1.75%
2.02%
3.
Allowance for Possible Losses on Earning Assets
5.02%
4.89%
4.
Compliance for Allowance for Possible Losses on Earning Assets
132.59%
158.84%
III.
Rentability
1.
ROA
3.76%
2.44%
2.
ROE
31.59%
29.25%
3.
NIM
4.57%
2.98%
4.
Operating Expenses to Operating Income **)
62.00%
81.18%
IV.
Liquidity
LDR
46.32%
35.38%
V.
Compliance
1.
a. Percentage Violation of Legal Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-b. Percentage of Lending in Excess of the Legal
Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-2
Reserve Requirement (Rupiah)
5.08%
5.26%
3
Net Open Position
3.80%
9.06%
*) Premises and equipment are computed after deducted by accumulated depreciation.
**) Operating expenses include interest expenses, provision for possible losses on earning assets, provision for
possible losses on other assets divided by operational income include interest income.
FINANCIAL RATIOS
As of June 30, 2004 and 2003
Bank
KEY RATIOS
NO
(5)
I. COMPONENTS
A. Core Capital
19,086,768
16,351,161
1. Paid-Up Capital
10,000,000
10,000,000
2. Disclosed Reserves
a. Agio
5,926,418
5,926,418
b. Disagio (-/-)
-
-c. Donated Capital / Additional Paid-In Capital
-
-d. Funds for Paid-Up Capital - Shares Option
19,793
-e. General and Appropriated Reserves
747,000
-f. Previous Years Profit After Tax
743,716
-g. Previous Years Losses (-/-)
-
-h. Current Year Profit After Tax (50%)
-
-i. Current Year Losses (-/-)
1,624,477
415,139
j. Differences Arising from Translation of Financial Statements
-
in Foreign Currencies
-
1) Positive Adjustment
-
2) Negative Adjustment (-/-)
25,364
9,604
k. Funds for Paid-Up Capital
-
-l. Decline in Value of Equity Participation in Available for Sale Portfolio (-/-)
-
-m. Differences Arising from Restructuring of Transaction among Entities
-
under Common Control
-
3. Goodwill (-/-)
-
B. Supplemental Capital (Max 100% of core capital)
9,115,198
9,776,035
1. Reserve for Premises and Equipment Revaluation
3,046,936
3,046,936
2. General Reserves of Allowance for Possible Losses on Earning Assets
(max 1.25% of risk weighted assets)
1,201,881
994,338
3. Loan Capital
1,894,367
1,922,366
4. Subordinated Loans (max 50% of core capital)
2,972,014
3,812,395
5. Increase in Value of Equity Participation in Available for Sale Portfolio (45%)
-
-II. Total Core Capital and Supplemental Capital (A+B)
28,201,966
26,127,196
III. Investments in Shares of Stock (-/-)
(1,737,140)
(1,681,147)
IV. Total Capital (II-III)
26,464,826
24,446,049
V. Risk-Weighted Assets
96,150,458
79,547,079
VI. Established Capital Adequacy Ratio (IV : V)
27.52%
30.73%
VII. Required Minimum Capital Adequacy Ratio
8%
8%
CALCULATION OF CAR
As of June 30, 2004 and 2003
Bank
DESCRIPTION
NO
(in millions of Rupiah)
(6)