09 04 29 Q1 2009AnalystsMeeting
PT Bank Mandiri (Persero) Tbk
k
(
) bk
Q1 2009
Q1 2009
Results Presentation
Results Presentation
Bank Mandiri Presentation Contents
Results Overview
2009 Financial Highlights
2009 Growth Momentum and Balance Sheet
Loan Growth & LDR
Strategy Overview
Deposit Franchise Development
Net Interest Margins
High‐Yield Lending Activities
Wholesale Lending, Fees and FX Activities
NPL Movement, Asset Quality & Provisioning
o e e , sse Qua y
o so g
New NPL Formation
Enhancing Risk Management
Overhead Expense Details
Leveraging SBU Alliances & Subsidiaries
Summary P&L
CAR, ROE, PAT
Page #
2
3‐4
5‐7
8‐9
10‐13
14
15‐17
18‐20
21‐23
3
24
25
26
27‐29
30‐31
32
Operating Performance Highlights
Operating Performance Highlights
33‐41
33
41
Supporting Materials
42‐81
1
Key Financial Highlights
Bank Mandiri’s Q1 2009 Performance continued to demonstrate marked
p
y
improvements in several key indicators:
Q1 ‘08
Q1 ‘09
%
Rp135.5 tn
Rp176.9 tn
30.5%
1.31%
1.46%
11.5%
5.14%
5.85%
13.8%
60.8%
57.2%
(5.9%)
Rp136.2 tn
Rp155.7 tn
14.4%
NIM
5.03%
5.47%
8.8%
Efficiency Ratio
41.1%
35.1%
(14.6%)
1,389 bn
b
1,400 bn
b
0.8%
Loans
Net NPL Ratio
Gross NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
f
2
Maintaining momentum for growth
Loans by SBU*
(Rp Tn)
150
135
120
105
90
75
60
45
30
15
Y‐o‐Y
4.38 4.55 57.1%
14.10 12.9%
4.04 14.82
13.42
3.46
19.27 19.66 24.9%
12.90
2.68 2.90
18.74
12.49
13.08
17 52
17.52
2.20
41.56 40.64 24.1%
14.23 15.74
9.91
1.94
38.71
1.73 8.86
12.78
7.56
36.48
11.08
4.44 4.41 29.9%
31.46
3
.46
10 66
10.66
32 75
32.75
4.33
28.90
4.06
24.36
2.82 3.39
25.85
0.91 2.14
62.04 64.12 51.7%
0.95
55 17
55.17
44.84 42.27 47.77
36.12 34.67
29.94
Micro
Comm
Small
Int'l
Cons
Corp
Deposits by Product – Bank Only
(Rp Tn)
275
250
50
FX Time
FX Demand
FX Savings
21.35
9 8%
16 16 9.8%
16.16
15.93
225
200
Rp Time
Rp Demand
Rp Savings
14.72
15.65 12.56
175
73 43
73.43
Y‐o‐Y
14.69
16.07
95.69
91.94 37.8%
63.34 78.16
66.70
150
93.20
125
15.09
80.47 9.78
11.88
13.53 10.49
19.51 64.2%
51 82
51.82
41.30 43.97
42.99 18.1%
9.07
36.39
7.72 6.37 7.38 8.15 52.0%
11.39
33.61 4.70 5.36
30.12 4.12
3 50
3.50
81.54 76.29 80.81 75.80 82.23 77.24 1.2%
57.61
45.17
50.43
100
75
50
25
0
0
Q4 '05Q4 '06Q3 '07Q4 '07Q1 '08Q2 '08Q3 '08Q4 '08Q1 '09
Q4 '05Q4 '06Q3 '07Q4 '07Q1 '08Q2 '08Q3 '08Q4 '08Q1 '09
Q4 '05 Q4 '06
Q4 '05
Q4 '06 Q4 '07
Q4 '07 Q1 '08
Q1 '08 Q2 '08
Q2 '08 Q3 '08
Q3 '08 Q4 '08
Q4 '08 Q1 '09
Q1 '09
*Cash Collateral Loans have been reallocated to Small Business
3
Strong and liquid balance sheet
(Rp Bn, Bank Only)
Amount
% of
Assets
5,817
1.78%
SBI & BI Placement (net)
29,262
Placement w/other banks
(net)
( )
Marketable Securities (net)
Assets
Amount
% of Liab.
Current Account
62,498
19.18%
8.98%
Savings
85,391
26.20%
26,713
8.20%
Time Deposits (Rp)
91,936
28.21%
4,889
,
1.50%
Time Deposits (Fx)
p
,
16,165
4.96%
87,934
26.99%
Total Deposits
255,989
78.56%
Loans (Gross)
160,072
49.12%
Securities Issued
687
0.21%
Provisions
(12,568)
(3.86%)
Deposits from other banks
9,052
2.78%
Other Advances (net)
6,263
1.92%
Borrowings
7,657
2.35%
Investments
3,490
1.07%
Other Interest bearing liabilities
2,830
0.87%
Other Assets
13,990
4.29%
Non Interest bearing liabilities
17,705
5.43%
Equity
31 942
31,942
9 80%
9.80%
Total
325,863
100.00%
Cash
Government Bonds
Total
325,863
100.00%
Liabilities
4
FX LDR continues to decline along with FX Loans
FX Loans
FX Loans* & LDR
(USD million)
4,254
3,765
3,158
895
582
32 3
Loans (Rp tn)
3,755
282
45 6
730
691
984
984
4,011
3,822
247
44
44
248
34
22
38
687
694
55 3
(264)
123 7%
123.7%
3,348
382
33 9
617
980
3,084
104.4%
102.5%
378
16
16
132
111.0%
95.9%
80.5%
588
78.3%
34.3
35.3
3
36.6
2,306
34.3
2,998
33.4
2,820
33.8
2,731
31.3
2,908
3
37.6
290
8
282
466
LDR (%)
131.1%
1,969
1,834
1,163
2005
2006
Current
2007
Q1 '08
S.Mention
Q2 '08
Sub Standard
Q3 '08
Q4 '08
Doubtful
Q1 '09
2005
2006
2007 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09
Loss
5
LDR of 63.8% reflecting strong liquidity…
Quarterly Loan Data – Consolidated
Quarterly Loan Segment Details – Bank Only
Corporate
Commercial
S ll
Small
Micro
Consumer
Loans (Rp tn)
65.0%
% 63.8%
63 8%
62.2%
59.2%
LDR (%)
LDR (%)
53.7%
57.2% 56.4%
54.3%
42.3
40 2 38.2
40.2
38 2
42.5%
35.4%
31.4
76.4 78.8
68.7
59.7
53.6
61.1
55.4
50.5
44.7
35.7
32.6
36.4 35.5
32.5
39.1
39
1 41.2
22.2
26.3%
2.7 2.9 3.5 4.0 4.4 4.6
Loans
(Rp tn)
Y‐O‐Y Growth
(%)
% of
Portfolio
Corporate
78.78
42.31%
49.22%
Commercial
42.64
19.99%
26.64%
Small
14.43
10.42%
9.02%
Micro
4.55
57.00%
2.84%
Consumer
19.66
24.75%
12.28%
Total
160.07
30.53%
100.00%
As of March 2009; Non‐consolidated numbers
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
QoQ Growth (%)
YoY Growth (%)
18.7 19.3 19.7
13.7 13.1 13.3 13.8 15.1 14.4
Q3 '07
1.37%
Q2 '07
30.5%
Q1 '07
By Segment
(Bank only)
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '00
Q4 '01
176.9
174.5
162.8
149.6
135.5
138.5
121.7
116.3
114.3
117.7
106.9
94.4
75.9
65.4
48.3
43.0
11 7
11.7
11 1
10 7 11.1
8.5 10.7
1.5 3.7
10.2
10.0
7.6
1.9 2.1
1.7
17.5
14.3 15.8
43.8 42.6
6
Rp21.1tn in loans disbursed in Q1 ‘09
Loan Disbursement by Segment (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only
1 57
1.57
21.11
12.16
9.38
2.18
159.01
1.14
0.69
1.29
160.07
3.77
21.11
13.35
Q4 '08
Disburs.
Install.
Payment FX Impact Write‐Offs
Q1 '09
Corporate
Commercial
Small
Micro
Cons Fin
Total
7
Committed to Improving Shareholder Value
Reduce Cost of Funds
Reduce Cost of Funds
Business Strategy
Improve Assets Yield
Diversify into Fee Income
Competitive,
sustainable
sustainable
returns, with
above‐average
rates of growth
t
f
th
Reduce Provision/NPL
d
ii /
Support Strategy
Strategic
Alliances
Reduce Cost Efficiency
Leverage on cash generator to
accelerate growth in higher yield
business
8
Building on our Business and Support Strategies
with an Alliance Focus
with an Alliance Focus
Alliance Strategy Focus
Cross sell products to
employees as customers:
employees as customers:
‐ Payroll
‐ Mortgage or auto loans
‐ Corporate/ Retail cards
Corporate
SBU
Strategic
Alliances
Business Strategies
Improving supplier network and
distributor
‐ Providing basic transaction
and cash management
‐ Supporting suppliers and
distributors in working capital
financing
1. Strengthening our deposit franchise, to become
primary payment bank
2. Developing high yield business
3. Enhancing wholesale franchise and diversifying
wholesale transactions
4 Connecting the business, leveraging synergy
4.
Connecting the business leveraging synergy
5. Non‐organic growth & synergy in optimizing
subsidiaries
Cross sell products for employee as customers : Payroll, mortgage, auto
loans commercial / retail cards
loans, commercial / retail cards
Developing wealth management for individual Director or owner operators
Support Strategy
Efficiency
Risk Management
Increase IT Operations
efficiency and
centralized and
consolidated
procurement
Increase earning assets
monitoring and
perfecting early
warning signal
Consolidated risk and
monitoring subsidiaries
Human Capital
Enhance employee
productivities and
internal culture
Apply best practice for
recruit, retain and
develop
Information Technology
Implement Business
Solution Excellence to
support payment bank
strategy
Performance Culture
Apply Value Based
Management as the
next step of
Performance Culture
Implement Service
Excellence Strategy to
support business growth
b i
h
and services
9
Q1 Deposits rise 21.1% Y‐o‐Y
Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
Rp Demand Deposits
Rp Time Deposits
FX Savings Deposits
FX Demand Deposits
FX Time Deposits
Low‐Cost Deposits (%)
16.1 78.2
15.1
19.5
13.5
10.5
11.9
10% 9.5%
7.4 8.2
6.4
9.9%
7.4%
5.3%
3.5%
3.7%
3.0%
3.3%
2.8%
2.5%2.5%2.2%2.8%
2.6%
0%
FX DD
FX TD
6%
4%
77.2
82.2
75.8
80.8
76.3
81.5
65.7
62.5
57.2
57.6
45.2
52.0
40.6
29.6
0
7.4%
6.9%6.8%
6.3%
3.6%3.2%
3.8%4.2%
3.0%2.9%
7.4%
4.7%
6 1%
5% 6.1%
4.9 4.7
3.5
9.5%
9.2%
8.2%8.0%8.3%
9.3%
9.1%
8 8%
8.8%
43.0
51.8
44.0
41.3
36.4
4.7 5.4
7.7
10.9%
10.4%
11.4%
63.3
66.7
9.8
50.4
35.4
33.1
31.0
33.6
30.1
2
28.8
4 1 4.2
4.1
42
14.7
73.4
69.1
70.0
2.9
72
80.5
14.611.2
9.1 10.2
14.7
1
15.9
13.7
12.1
9
13.9
12.6
93.2
11.911.4
28.0
0
9.1
66.5
80.5
24.8
31.2 22.1
31.118.0
25
97.1 14.114.3
50
100.7
87.8
8
23.1%
106.9
32.9%
75
11.6
31.4%
61.5% 59
59.2%
2%
57.2%
Rp Savings
1 Mo. SBIs
11.9%
57.8%
58.6%
54.2%
44.5% 45.3%
125
100
1
17.3
21.5
16.5
150
20
0.6
23..4
175
15.7
200
13.1%
13.9%
16.2 91.9
9
250
21.4 95..7
275
225
Rp DD
Rp TD
15%
2%
4.0%
3 7%
3.7%
3 9%
3 7%3.9%
3.7%
2.8%
2.1%
1.9%
1.6%1.8%
1.1%
2.6%
2.4%
0%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q4 '99
10
Building a strong savings deposit franchise…
Transaction channel growth
Savings Deposit Growth
Savings Deposits (Rp tn)
g
p
( p )
Other
Other
Payment
Transfer
Withdrawal/Inquiry
Avg ATM Daily Vol (000)
As % of Total Deposits
National Share of Savings Deposits (%)
57.09 55.80 61.63
97.39
74.71
84.70
54.48
51.04 65.9
49.59 58.76
55 00
55.00
40.0%
38.6%
35.6%
34.6%
30.81
19.6
32.8% 33.4%
1,1
100.5
1,0
043.4
9
976.7
8
899.7
8
853.4
6
677.0
6
607.5
29 2%
29.2%
4
492.1
22.8%
37.37
39.07
1,0
088.8
30.6%
29.79
29.3
22.7%
18.5%19.1%19.3%
17.5%
17.9%18.0%
17.2%
16 9%
16 2%16.9%
16.2%
16 0%
16.0%
Quarterly Call Center Trans. (000)
12.8%
11.6%
2,955
Quarterly SMS Trans. (000)
3,009
15.3%
11.0%11.7%
2,988 2,784
3,029
3,464
1,722
17,969
19,772
18,116
22,328
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
16,974
Q4 '06
25,819
11,575
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
6,988
85.39
89.61
82.16
88.52
81.65
81.54
57.60
45.20
52.00
40.50
29.59
22.12
17.96
27
1,016
679
3,072
1,069
,
1,086
11
…through an enhanced transaction capability
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
120
114.98
ATM
Branch
SMS Banking
Internet Banking
100
75
70.10
Quarterly Users (000s)
11,000
10 006
10,006
10,000
110.13
99.83
9,950
SMS Banking
57.66
60
88.75
Debit Cards
64.68
49.11
Internet Banking
9,000
8,828
7,629
8,000
77.89
80
67.76
69.97
40.71
45
6,000
35.54
60
6,642
7,000
31.87
5,752
2
5,024
4,793
4,355
5,000
40
35.10 36.24 36.55
8.33
41 39
41.39
30
ATM
SMS Banking
Internet Banking
40.59
16.97
20
0
0
38.51
42.11
19.77
25.82
22.33
15
2,989
3,000
2,000
11.57 12.24
6.08
5.55
1.71 2.39 3.37
0.84 1.31
0
0
1,000
2,413
1,897
,
1,523
1,089
849 988
705
564
358 469
0
0
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
4.04
3.81
3.61
2.20
0.56 0.88 1.60
1 02 1.81
0.28 0.36 0.55 0.71 1.02
1.28
3,652
4,000
12
Enhancing deposit franchise, building on wholesale
transactions
Cash Management Growth in Commercial Banking
Wholesale Deposit Growth (CASA)
(Rp tn)
# of Customers
21
2.1
Comm Savings
Comm Demand
Corp Savings
Corp Demand
1.8
Total Transactions
(000)
1.5
+9.4%
21 0
21.0
19.4
19.3
0.6
0.6
0.7
12.1
14.8
4,450
632
34.0
24.9
36.5
34.2
4,066
407
2,414
23.0
154
2005
2006
2007
2008
Q1 '09
2007
2008
Q1 '09
745
2006
2007
2008
Q1 '09
13
Q1 NIM rises to 5.5% on asset yields of 10.7%
Quarterly Net Interest Margins*
13.0%
Quarterly Yields & Costs by Currency*
20% 18.9%
Yield on Assets
Cost of Funds
13.0%
15% 14.0% 13.1%
10.8%
14.0%
11.0%
10.7%
10.8%
9.5%
8.9%
10.7%
10.5%
10.1%
9.3%
9.2%
9.0%
9.4%
7.3%
11.1% 10.9%
10.6%
10.4%
7.4%
10.8%
8.2%
6.9%
5%
13.2%
12.9%
12.1% 12.0%
8.8%
8.2%
8.0%
7.7%
5.0%
5.4%
8.3%
10.3%
9.1%
8.0%
5.8%5.9%
4.6%
4.0%
0%
4 8%
4.8%
NIM
13.2%
11.9%
12.5%
11.7%
7%
10% 11.1% 11
6.4%
6.3%
IDR
15.9%
5.5%
5.3%
4 8%
4.8%
Avg Loan Yield
Avg 1‐Mo. SBI
15%
4.5%4.3%
4.2%
3.8%
10%
FX
9.5%
7.6%
6.5%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
4.9%
5.5%
4.9%
3.6%
4.3%
3.7%
2.8%
3.9%
2.4%
5% 6.7%
7.3%
3.8%
5.1%
5 7%
5.7%
5 3%
5.3%
5 8%
5.8%
6.8% 6.5%
5.3%
5.3%
4.9%
2.7%
3.0%
3.4%
3.5%
2.6%
2.2%0.5%
4.0%
1.8%
1.4%
0%
2.7%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
*Excluding the impact of non‐recurring interest income
Avg Bond Yield
Avg COF
14
Building our high yield business in Micro & Small…
Small Credits
(Rp Bn)
Micro Credits
(Rp Bn)
Loan
Yields
13.6%
21.4%
3,593
Growth
Q1 2009
181
0
26.0%
Q1 2008
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
17,410
Q1 2008
13,817
7
Q1 2009
12.8%
14,100
Growth
12,494
4
4,553
2,89
99
Q1 2008
13.8%
1,606
1,654
57.1%
Consumer Loans
(Rp Bn)
Growth
Q1 2009
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
1,405
212
242
401
253
900
1,129
198
1 293
1,293
611
599
229
TOTAL
Cash Coll
TOTAL
Coops
Unsecured Micro
Program
Micro
Non‐Prog
Rural Banks
Mortgage
Home Equity Payroll Loan
Loan
Other
Total
15
…as well as Consumer lending, which rose 24.9%
g g
y
Y‐o‐Y on Mortgages and Payroll Loans
Quarterly Consumer Loan Balances by Type
Consumer Loan Growth by Type
Rp19.66 tn
3,697
3,761
3,702
3,983
3,658
8
3,612
8,37
76
8,052
7,7
717
7,,199
6
6,393
5,382
3,865
3,437
3,404
3,663
3,010
1,426 2,644
4
3,522
3,610
3
3,192
1,908
8
1,358 2,42
27
3,666
3,574
4,501
1,293 2,28
85
3,867
3,452
3,390
1,231 2,165
3,979
2,789
96
1,241 1,99
815 1,802
0
328
283
3,250
2,000
4,033
21
2,852 1,522
4 000
4,000
06
1,279 1,90
1,270 1,921
6,000
3,050
72
8 000
8,000
350
4,131
10,000
218 224 230
1,367 1,930
180 196 211
1
1,678
12 000
12,000
425
3,999
495
1,926
14,000
2,251
619
Mortgages
2,008
16,000
3,721
956
Home Equity Loans
Home Equity Loans
3,993
Payroll Loans
1,145 2,11
13
Credit Cards
18,000
1,279 2,223
3
Other
1,353
20,000
Loan Type
Growth (%)
Y‐o‐Y
Q‐o‐Q
Other*
118.48%
5.83%
Credit Cards
16.88%
1.25%
Payroll Loans
24.79%
(0.24%)
Home Equity Loans
Home Equity Loans
2 34%
2.34%
(0 65%)
(0.65%)
Mortgages
31.03%
4.03%
Total Consumer
24.89%
2.04%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q4 '05
Q4 '04
Q4 '03
* Auto & Motorcycle Loans channeled or executed through finance
companies = Rp4.92 tn in our Commercial Loan Portfolio
* Auto loans through Tunas Finance of Rp77bn booked in the
Consumer Loan Portfolio in Q1
16
42
18 8
81 56 23 68
24 16 10
59
62 61 57
3
72
11
68
17
67
19
62
17
58
9
61
10
62
32
57
919
226
338
651
784
752 765
817
872
17
59 19 39
63 63 59
1,409
1,331
1,273
1 226
1,226
1,159
1,089
1,033
966
Transfer Balance
Cash Advance
Retail
Receivables (Rp Bn)
Cards (000s)
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
Mandiri Visa & Mastercards and EOQ Receivables
1,409k Visa & Mastercards transacted Rp2.0 tn
in Q1 2009
1,891
1
Q1 '09
1,914
4
Q4 '08
1,904
4
Q3 '08
1,668
8
Q2 '08
1,443
3
Q1 '08
1,514
4
Q4 '07
1,225
5
Q3 '07
1,067
7
Q2 '07
936
6
Q1 '07
836
6
Q4 '06
755
5
Q3 '06
621
1
Q2 '06
553
3
Q1 '06
600
0
Q4 '05
606
6
Q3 '05
532
2
Q2 '05
521
1
Q1 '05
535
5
Q4 '04
2,251.0
0
Q1 '09
2,223.2
2
Q4 '08
2,112.7
7
Q3 '08
2,007.7
7
Q2 '08
1,925.9
9
Q1 '08
1,907.5
5
Q4 '07
1,677.6
6
Q3 '07
1,426.2
2
Q2 '07
1,357.5
5
Q1 '07
1,292.8
8
Q4 '06
1,230.7
7
Q3 '06
1,240.8
8
Q2 '06
1,279.4
4
Q1 '06
1,367.4
4
Q4 '05
1,270.2
2
Q4 '04
814.9
9
Q4 '03
567.5
5
Q4 '02
Diversifying our strength in Wholesale lending…
Breakdown of Net Expansion in Corporate Lending
Q1 ’08 – Q1 ’09 (Total Rp23.42 tn)
%
Breakdown of Net Expansion in Commercial Lending
Q1 ’08 – Q1 ’09 (Total Rp7.10 tn)
%
Mf F&B
Mfg‐F&B
5 608
5,608
67 30%
67.30%
B S
Bus Serv
4 290
4,290
197 35%
197.35%
Bus Serv
3,082
100.88%
Constr
1,176
24.47%
Mfg‐Chem
2,909
60.95%
Agri
879
23.67%
Trans
2 380
2,380
41 84%
41.84%
Trad‐Distr
d
726
36 72%
36.72%
Mfg‐Oth
2,331
34.89%
Trans
642
34.34%
Agri
2,199
35.77%
Trad‐H&R
610
65.09%
Constr
2,020
,
83.19%
Mfg‐P&P
67 38%
67.38%
Trad‐Oth
1,396
154.58%
599
569
34.10%
1,133
44.64%
Mfg‐Text
Mfg‐Text
Utilities
68.23%
Mfg‐Oth
522
13.21%
992
Mining‐Oth
474
28.65%
Mfg‐F&B
500
29 82%
29.82%
Other
281
24.92%
Mfg‐Chem
475
15.47%
148
5.75%
Mfg‐Wood
(200)
(34.00%)
Trad‐Oth
Mining‐Oil & Gas
(341)
(5.49%)
Soc Serv
(12)
(3.12%)
Mfg‐Metal
(395)
(33.32%)
Mining
(21)
(2.06%)
Trad‐Distr
(514)
(25.93%)
Utilities
(722)
Rp Billion
Trad‐H&R
(86.34%)
(529)
(66.24%)
Rp
p Billion
Oth
(87.54%)
(3,281)
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
(3,000)
(4,000)
6,000
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
18
…into Fee‐based Income
Breakdown of Q1 2008 & 2009 Non‐Loan Related Fees & Commissions (Rp bn)
Non‐Loan
Non
Loan Related Fees & Commissions
Related Fees & Commissions
Q1 ‘08
Q1
08
Q4 ‘08
Q4
08
Q1 ‘09
Q1
09
Q1 %
(Q‐o‐Q)
Q1 %
(Y‐o‐Y)
237.43
311.78
290.33
(6.9%)
22.3%
81.75
141.57
121.41
(14.2%)
48.5%
139.73
82.98
79.83
(3.8%)
(42.9%)
Transfers, Collections, Clearing & Bank Reference
51.06
55.69
57.70
3.6%
13.0%
Credit Cards
78.85
112.67
113.35
0.6%
43.8%
Mutual Funds & ORI
10.32
13.32
6.17
(53.7%)
(40.2%)
Others*
165.87
217.17
162.89
(25.0%)
(1.8%)
Total
765.02
935.18
831.67
(11.1%)
8.7%
4,261.44
5,834.48
5,601.03
(4.0%)
31.4%
17.95%
16.03%
14.85%
(7.4%)
(17.3%)
Administration Fees
Opening L/Cs, Bank Guarantees & Capital Markets
Opening L/Cs, Bank Guarantees & Capital Markets
Subsidiaries
Total Operating Income
Total
Operating Income#
Non‐Loan Related Fees to Operating Income**
* Others includes Syndication, Payment Points, ATMs, Debit Cards, etc.
** Non‐Loan related fees & commissions/(Total Operating Income ‐ Non‐recurring interest income)
# Excluding non‐recurring interest income
19
Strong FX revenues but limited derivative
exposure
FX Fees(Rp bn) – Bank Only
Derivative Exposure (Rp bn) – Bank Only
800
Transactions
Q1
Notional Fair
Notional
Fair
Derivative Derivative
Derivative
Derivative
Amount Value Receivable Payables
Foreign Exchange
Forward ‐
d buy
b
600
Forward ‐ sell
Swap ‐ buy
Swap ‐ sell
694.3
400
2,344
2,347
23
21
82
80
2
‐
1 994
1,994
2 097
2,097
110
110
7
7
4,866
4,869
100
103
‐
9
9
245
139
(6)
‐
239
139
Interest Rate
Swap ‐ interest rate
Total
275.3
200
215.0
Less: Allowance for possible losses
ll
f
bl l
193.7
0
45.9
45
9
16.1
102.9
83.5
83.5
72 7
72.7
2005
2006
2007
2008
Total
2009
20
Q1 NPLs of Rp10.5 tn due to FX impacts as well as
Rp2.1 tn in downgrades
Non‐Performing Loan Movements (Rp bn) – Bank Only
0.35
2.14
8.53
0.69
Movement by Customer Segment (Rp Bn)
145.1
1.06 10.52
346.0
0.17
Cons
Micro/Small
C
Comm
Corp
342.1
1,309.3
28.6
80.5
295.9
24.1
11.2
136.2
Q4 '08
UG to PL DG to NPL Payment Write‐Offs
Other
Q1 '09
UG to PL
283 6
283.6
DG to NPL
W/O
21
Gross NPLs rise to 5.85% with provisioning
g
g
coverage still strong at 116.6%
NPL Movement ‐ Consolidated
Category 2 Loans – Bank Only
70.9%
%
212.6%
190.4%
201.7% 187.5%
175.8%
146.7%
25.28%
151.1%
139.1%
129.5% 128.8%
109.0%
16.34%
70.0%
44.4%
Cat 2 %
18,000
40%
16,000
14,000
30%
12,000
26 18%
26.18%
10,000
20%
8,000
15.86%
14 98%
14.98%
13.99%
12.87%
11.46%
6,000
1.5%
9.22%
10.20%
10%
0%
0
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Net NPL Ratio
Prov/NPL incl. Coll.
2,000
9.16%
16,332
15,412
13,502
13,451
14,058
15,148
15,586
15,854
16,750
16,966
12,912
8,334
10,983
16,202
12,655
15,350
4,033
1.5%
4,000
5..85%
4.73%
4.44%
4.74%
5.14%
7.17
7%
15.3%
7.10
0%
8.60%
7.30%
9.70%
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Gross NPL Ratio
Prov/NPL
116.6%
1
12.20%
%
15.47%
16.29%
19
9.80%
100 9%
100.9%
163.8%
163
8%
138.9%
122.6% 127.1%
86.7%
50%
20,000
,
2 ‐ Special Mention Loans (Rp Bn)
22
Cash Provisioning remains high for both NPLs
and Category II loans
Collateral Valuation Details
Non‐Performing Loans by Segment
NPLs
(Rp tn)
Q1
(Rp tn)
NPLs
(%)
Collectibility
1
2
3
4
5
Corporate
7.22
1.57
9.16%
Total Cash
Prov. (Rp bn)
1,528
2,716
1,062
472
6,791
Commercial
1.91
0.08
4.48%
SSmall
a
0.55
0
55
0.20
0
0
3.83%
3
83%
% Cash
o so s
Provisions
1.1%
16.6%
42.6%
54.7%
94.8%
Micro
0.26
0.03
5.68%
‐
4,306
59
‐
1,008
Consumer
0.58
0.11
2.97%
10 52
10.52
1 99
1.99
5 93%*
5.93%
12
1
‐
6
Total
Collateral Prov.
(Rp bn)
# of Accounts
* Excluding Restructuring Losses and loans to other banks.
• Bank Mandiri’s current provisioning policy adheres
to BI requirements
• As of 31 March ’09, loan loss provisions excess to BI
A f 31 M h ’09 l
l
ii
t BI
requirements = Rp697 bn
Provisioning
Policy
Performing
Loans
Non‐Performing
Loans
Collectibility
1
2
3
4
5
BI Req.
1%
5%
15%
50%
100%
BMRI Policy
1%
5%
15%
50%
100%
BMRI pre‐2005
2%
15%
50%
100%
100%
• Collateral has been valued for 19 accounts and collateral
provisions of Rp5,373 bn (30.2% of appraised value) have
been credited against loan balances of Rp6 829 bn
been credited against loan balances of Rp6,829 bn
• Collateral value is credited against cash provisioning
requirements on a conservative basis. For assets valued
above Rp 5bn:
– Collateral is valued only if Bank Mandiri has exercisable rights to
claim collateral assets
– 70% of appraised value can be credited within the initial 12
months of valuation, declining to:
•50%
50% of appraised value within 12 to 18 months
of appraised value within 12 to 18 months
•30% of appraised value within 18 to 24 months
•No value beyond 24 months from appraisal
23
Q1 2009 Annualized net downgrades of 3.64%
g
g
on loans originating since 2005
Total Loans originated since 2005
Net Upgrades (%)/Downgrades (%) #
Q1 2009 Details
Loan
Background
Q1 ‘09
Balance
Balance
(Rp bn)
Q1
2007
Q2
2007
Q3
2007
Q4
2007
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
DG to
NPL
%
UG to
PL
%
Corporate
58,516.3
‐
0.49
0.55
‐
‐
0.10
0.11
0.48
1.05
1.05
‐
Commercial
26,999.5
0.11
0.60
0.18
0.02
0.33
0.14
0.21
1.05
0.78
0.98
0.2
Small/Micro
14,982.7
1.87
1.56
1.07
0.59
0.92
0.58
0.59
1.20
1.06
1.12
0.07
Consumer
17,774.6
0.78
0.34
0.28
0.01
0.42
0.13
0.22
0.13
0.49
0.60
0.10
Total
118,273.0
0.42
0.29
0.23
0.08
0.28
0.18
0.21
0.65
0.91
0.98
0.07
# % downgrades and upgrades
# % downgrades
and upgrades are quarterly % figures
are quarterly % figures
24
Strengthening Risk Management & Monitoring
y
System
Summary of Risk Management Initiatives
Corporate Customer by Rating
C dit
Credit
• Enhance business process credit approval, CR
methodologies & tools (monitoring system)
• Develop & enhance collection systems
Develop & enhance collection systems
• Optimize credit portfolio management system
• Consolidate risk profile (incl. overseas offices &
subsidiaries – Credit, Market & Operational)
Market
•
•
•
•
•
High Risk (Rating C‐ G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
100%
15%
80%
12%
11%
24%
21%
5%
28%
34%
60%
%
Implementation of stress test analysis
Development of derivative system (summit)
Enhance Risk Mandiri Policy (KMRBM)
Enhance Treasury policy
yp y
Implement Risk Profile System (RPM)
40%
64%
20%
68%
67%
51%
Operational
• ORM implementation in all unit, incl. overseas
offices & subsidiary
• Set up Operational Risk Committee under RCC
• Synchronization of Risk‐Based Audit
methodology with RCSA (ORM)
0%
2006
2007
2008
Q1 '09
25
Q1 Cost to Income Ratio drops to 35.1% on
restrained G&A expenses
p
Quarterly Consolidated Operating Expenses & CIR*
Breakdown of Q1 2008 & 2009 Operating Expenses
CIR* (%)
Annual Avg CIR (%)
g
( )
Q1 ‘08
Q1
Q1 ‘09
QoQ
Q‐o‐Q
YoY
Y‐o‐Y
Personnel Expenses
58.9%
47.2%
47.2%
40.4%
42.3%
40.2%
40.4%
35 1%
35.1%
28 2%
28.2%
Base Salary
354,924
353,273
(1.09%)
(0.47%)
Other Allowances
Other Allowances
422 893
422,893
470 163
470,163
(20 16%)
(20.16%)
11 18%
11.18%
Post Empl. Benefits
93,295
140,269
48.37%
50.35%
Training
29,299
29,982
(31.31%)
2.33%
104,093
,
122,371
,
8.88%
17.56%
1,004,504 1,116,058
(6.74%)
11.11%
Subsidiaries
G & A Expenses
1,116
72
1,17
1,175
929
795
1
1,005
1,309
9
1,049
869
377
327
649
1,2
241
723
1,197
Total Personnel
Expenses
957
7
336
753
775
749
1,034
842
1,016
710
748
957
993
769
1,034
916
1,148
827
Q
Q4 '00
Q
Q4 '01
Q
Q4 '02
Q
Q4 '03
Q
Q4 '04
Q
Q4 '05
Q
Q4 '06
Q
Q1 '07
Q
Q2 '07
Q
Q3 '07
Q
Q4 '07
Q
Q1 '08
Q
Q2 '08
Q
Q3 '08
Q
Q4 '08
Q
Q1 '09
G&A Expenses (Rp bn)
Personnel Expenses (Rp bn)
*Excluding the impact of non‐recurring interest income & bond gains
IT & Telecoms
IT & Telecoms
190 850
190,850
165 624
165,624
(24 04%)
(24.04%)
(13 22%)
(13.22%)
Occupancy Related
193,533
228,051
(27.05%)
17.84%
Promo. & Sponsor.
109,515
92,665
(38.29%)
(15.39%)
Transport & Travel
Transport & Travel
60 685
60,685
67 756
67,756
(24 87%)
(24.87%)
11 65%
11.65%
Prof. Services
62,915
92,737
(37.04%)
47.40%
Employee Related
64,815
79,161
(8.15%)
22.13%
Subsidiaries
86 417
86,417
101 282
101,282
(29 21%)
(29.21%)
17 20%
17.20%
768,730
827,276
(27.91%)
7.62%
Total G & A Expenses
26
Leveraging cash generator to accelerate high yield
ggrowth
Net Interest Income
530
Corporate
Building Future Growth Engine
(Consumer & Micro/Retail)
CM = Rp1,388 billion
Leveraging Our Cash
Generator
(Corporate & Treasury)
CM = Rp977 billion
% of Total
NII (Rp bn)
Alliance Strategy Focus
744
19.6%
28.0%
728
Commercial#
Treasury & Int'll
Treasury & Int
20.4%
Q1 '07
Q1
07
Q1 '09
975
25.7%
7.4%
193
192
5.1%
34.6%
897
Micro & Retail*
1,504
39.7%
9.6%
248
373
Consumer Finance
9.9%
Fee Income
% of Total
Fees (Rp bn)
Corporate
Commercial#
Strengthen Emerging Business
(Commercial Banking)
CM = Rp923 billion
Treasury & Int'l
Q1 '07
Q1 '09
36
127
7.0%
5.7%
10.9%
171
338
27.0%
322
50.9%
Micro & Retail*
Consumer Finance
8.4%
53
81
29.0%
548
51
72
# Including Small Business *Excluding Small Business
47 0%
47.0%
8.1%
6.2%
27
Leveraging cash generator to accelerate high yield
ggrowth and deposit franchise
p
Consumer Loans from Alliance Program
(10 top corporate clients)
Co‐Branding Prepaid Card Program
Rp Billion
1,389
1,259 1,275
1,128
897
791
486
319
532
391
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09
Corporate Card Holder from Alliance Program
(10 to corporate clients)
(10 to corporate clients)
3,625
Plantation Small & Micro Lending from Alliance
Program
418
350
1,616
1,620
1,796
1,869
2,007
234
259
416
Rp Billion
427
427
347
268
149
Q4'07
Q1 '08
Q2 '08
Q3'08
Q4'08
Q1 '09
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09
28
Enhancing synergies & values from subsidiaries
Syariah Banking
Investment Bank
Insurance
Niche Banking
Bank Sinar
Harapan Bali
Multi‐Finance
TUNAS FINANCE
Total Assets
Rp17 7 tn
Rp17.7 tn
Bond Trading Volume
Rp5 65 tn
Rp5.65 tn
Total Assets
Rp3.87 tn
Rp3 87 tn
Total Loans
Rp284 bn
Rp284 bn
Total Financing
Rp1 659 bn
Rp1,659 bn
Total Financing
Rp13.4 tn
Bond Underwriting
Rp225 bn
Annual FYP
Rp 105.8 bn
Net Interest Margin*
11.04%
Net Interest Margin
5.6%
Total Deposits
Total
Deposits
Rp15.5 tn
Equity Trading Volume
Equity
Trading Volume
Rp2.84 tn
Fee Contribution
Fee
Contribution
Rp19.56 bn
ROA
4.4%
ROA (Before Tax)
(Before Tax)
6.7%
ROE
19.4%
ROA
(0.6%)
ROE
43.5%
ROE
12.1%
ROE (After Tax)
43.6%
• 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
b
base
• Cross‐sell capital market
services to broad range of
Mandiri customers
• Refocus business toward
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
complete our suite of
consumer offerings
• Enhance operating model
• Improve risk
management systems
and IT
• Improve productivity
•Use Bank Mandiri’s
network infrastructure
th
throughout Indonesia to
h tI d
i t
develop multi‐finance
segment, especially in
vehicle‐ownership
financing.
* Excluding deposits made by
Bank Mandiri
29
Q1 2009 operating profit up 42.5% from Q1 2008
Q1 2008
Q1 2009
Rp billion
Rp billion
1,149
2,211
928
1,975
Up
42.5%
4 394
4,394
3,385
3,332
2,338
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
Notes :
1. Fee based income excluding gain on sale & increasing value GB & securities
2. Overhead expenses + others excluding provisions
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
30
Strong Revenue Growth
Q1 2008
Summary P&L
Q4 2008
Q1 2009
Q‐o‐Q
Y‐o‐Y
(%)
(%)
% of
Av.Assets*
Rp (Billions)
% of
Av.Assets*
Rp (Billions)
% of
Av.Assets
6,142
7.9%
8,331
9.8%
8,568
10.3%
2.8%
39.5%
(2,757)
(3.6%)
(4,055)
(4.8%)
(4,174)
(5.0%)
2.9%
51.4%
3,385
4.4%
4,276
5.1%
4,394
5.3%
2.8%
29.8%
927
1.2%
1,570
1.9%
1,149
1.4%
(26.8%)
23.9%
‐
0.0%
‐
0.0%
58
58
0.1%
‐
(308)
(0.4%)
(796)
(0.9%)
(1,375)
(1.7%)
72.7%
346.4%
((1,004)
,
)
((1.3%))
((1,197)
,
)
((1.4%))
((1,116)
,
)
((1.3%))
((6.8%))
11.2%
G & A Expenses
(769)
(1.0%)
(1,148)
(1.4%)
(827)
(1.0%)
(28.0%)
7.5%
Other Operating Expenses**
(253)
(0.3%)
(386)
(0.5%)
(268)
(0.3%)
(30.6%)
5.9%
Profit from Operations
Profit from Operations
1 979
1,979
2 6%
2.6%
2 361
2,361
2 8%
2.8%
2 015
2,015
2 4%
2.4%
(14 7%)
(14.7%)
1 8%
1.8%
Non Operating Income
27
0.0%
(7)
0.0%
58
0.1%
‐
Net Income Before Tax
2,006
2.6%
2,354
2.8%
2,073
2.5%
(11.9%)
3.3%
Net Income After Tax
1,389
1.8%
1,359
1.6%
1,400
1.7%
3.0%
0.8%
Interest Income
Interest Expense
Net Interest Income
Net Interest Income
Other Operating Income
Gain from Increase in Value &
Sale of Bonds
l f
d
Provisions, Net
Personnel Expenses
Rp (Billions)
* % of Average Assets on an annualized basis
** primarily premiums paid under the blanket guarantee scheme
n.a
114.8%
31
…supported by strong capital at 15.4%
Capital & RWA Movement
Profit After Tax & ROE
IDR bn
26.2%
26
2%
23.6%22.8%
21.5%
CAR
31.3%
18.1%17.9%
15.8%
23.4%
1,221
1
1,400
1
1,390
1,027
372
610 372
610
97 305
519 510
1,113
Total Capital (Rp tn)
744
1,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 Q1
Q1 '09
09
1,549
308
1,168
1,3
300
13.3 15.4 17.0 25.5 27.5 27.4 28.4 28.3 27.2 27.3
RWA (Rp tn)
690
602
72.5
42.6
58 1
58.1
1,234
91.9
1,32
29
967
1,040
645
1,0
017
134.0
15.7%
15 4%
15.4%
115.9 112.2
799
1,528
172.9
2.5%
1,345
177 5
177.5
21 1%
21.1%
108.9
819
10.0%
1,16
66
25.3%
25.3%
23.7%
775
1,40
08
Q4 PAT
Q4
PAT
Q3 PAT
Q2 PAT
Q1 PAT
1,390
27.7%
26.4%
R E AT
RoE ‐
(623)
2001 2002 2003 2004 2005 2006 2007 2008 2009
32
Operating
O
i
Performance
Performance
Highlights
g g
33
Corporate Banking:
Contribution Margin declines on rate increase
Contribution Margin (after PPAP)
Rp bn
Performance to Date: Q1 2009
Rp bn
81
2,906
139
Q1
Q2
Q3
Q4
772
104
3 Strengthen
3.
Strengthen our Syndication &
our Syndication &
Structured Finance team, as
well as our synergy with
Mandiri Sekuritas, to provide a
broader variety and more
broader variety and more
sophisticated product range,
and accelerate transactional
banking development in
Corporate Banking
Corporate Banking
522
1,077
537
401
547
592
(29.6%)
545
2007
741
2008
1. Refine organization to be more
i d t f
industry focused ,& strengthen
d & t
th
funding sales team to gain rapid
business growth
2. Strengthen Corporate Banking
Floor in Surabaya and Medan to
broaden and deepen our
geographic coverage
2,483
311
Strategies for 2009
522
2009
4. Broaden relationships to offer
products and services to our
corporate clients’ suppliers,
employees and customers,
l
d
t
through strategic alliance
program
34
Mandiri Sekuritas’ financial performance has
p
y
g
y
been impacted by the global economy crisis
Q1 ’08
Q1 ’09
Y‐o‐Y
(%)
107
66
(38%)
• Investment Banking
48
30
(37%)
• Capital Market
Capital Market
45
29
(36%)
• Treasury
2
0
(100%)
• Investment Mgt
12
8
(36%)
Operating Expenses
51
30
(42%)
Earnings After Tax
28
(5)
(117%)
Equity Transactions
15,146
2,838
(81%)
SUN Transactions
10,717
5,658
(47%)
Bonds Underwritten
Bonds Underwritten
2 083
2,083
225
(89%)
ROA
5.5%
(0.6%)
(111%)
ROE
13 4%
13.4%
(2 8%)
(2.8%)
(121%)
(Rp Bn)
Revenues
35
Treasury & International Banking
Performance to Date: Q1 2009
Strategies for 2009
Rp bn
66
366
37
492
455
1 Intensif
1.
Intensify cross‐selling of forex
cross selling of fore products
prod cts
and services to our corporate and large
commercial clients
2. Leverage our overseas network to
maintain our syndicated facilities and
trade financing to high quality
customers in selected sectors
192
NII
F
Fees
O h d Operating Profit
Overhead
O
ti P fit Provisions
P ii
P fit Aft PPAP
Profit After PPAP
Business Volume (Rp bn)
Rp bn
Loans
Deposits
3. Enhancing
Enhancing our regional distribution
our regional distribution
(RTM) in high growth, export‐oriented
regions in collaboration with Micro &
Retail Banking
4 SSeek opportunities to enhance the yield
4.
k
t iti t
h
th i ld
of our recent portfolio
5. Reinforce Bank Mandiri’s
competitiveness through new offices in
Malaysia and Shanghai
4,963
3
2008
4,406
6
4,885
5
2007
4,318
8
4,231
1
2006
2,823
3
3,007
7
913
3
2,512
2
1,011
1
2005
Q1 '09
36
Commercial Banking:
Strong revenues from both Liabilities & Assets
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: Q1 2009
Rp bn
Rp bn
Q1
Q
Q2
Q
Q3
Q
1. To widen asset margin especially
in Small Commercial Loan and
Medium Commercial Loan
Segment (Limit under Rp100
Billion)
Q4
Q
2,427
126
367
95
2,114
1,006
2. To increase sustainability of loan
portfolio by expanding “KMK”
fixed product.
84
923
617
608
564
630
31%
946
923
703
487
2007
2008
3 Financing
3.
Financing the subcontractors of
the subcontractors of
large corporates, particularly in
infrastructure, mining, and
telecom
4 To pitch alliance strategic
4.
T it h lli
t t i
partner targets from the 10
biggest corporate customers
and 17 biggest commercial
customers that have
t
th t h
significantly business impact.
5. To develop bundling products by
utilizing push product and
existing product range.
2009*
*) incl CM Small Rp.121 bn & BSM Rp. 63 bn
37
Commercial Banking : Stronger Platform & Improved
Distribution Capability
y
Expanding Scope of Distribution, 2009
Solid & Stable Source of
Low Cost Funds
R Tn
Rp
T **
Sumatera
Loans = Rp 5.8 Tn
Funds = Rp 5.0Tn
Java and Bali
Loans = Rp31.1 Tn
Funds = Rp23.9 Tn
Kalimantan
Loans = Rp2.9 Tn
Funds = Rp2.2 Tn
Eastern
Loans = Rp0.9 Tn
Funds = Rp1.8 Tn
Q1
2008
Q1
2009
Growth
Demand
Deposit
17 58
17.58
19 26
19.26
9 5%
9.5%
Rupiah
13.07
13.34
2.1%
FX
4.51
5.92
31.1%
Saving
Deposit*
1.18
1.54
30.3%
Total Low
Cost Fund
Cost Fund
18.77
20.79
10.8%
Total
Funding
27.94
32.90
17.7
Product
CBC = 19 Unit
Floor = 18 Unit
TSC = 11 Unit
TSD = 6 Unit
Low Cost Fund Ratio = 63.21%
Funding from Java & Bali =72.61%
of total fundingg
* Business Savings Product
** excl. SBG
38
Strong growth from our Syariah Banking
subsidiaryy
Financial Performance (Rp bn)
Financing
Net Interest Margin & Cost of Funds
Q4 ’06
Q4 ‘07
Q1 ‘08
Q4 ’08
Q1 ’09
7,415
10,305
11,150
13,251
13,429
Deposits
8,219
11,106
12,246
14,897
15,462
Assets
9,555
12,888
14,031
17,064
17,704
EAT
65.48
114.64
46.24
193.15
63.80
ROA
1.10%
1.54%
2.05%
1.82%
2.08%
ROE
10 23%
10.23%
15 94%
15.94%
22 64%
22.64%
20 98%
20.98%
19 41%
19.41%
Net NPF
4.64%
3.43%
2.63%
2.45%
2.15%
13.6%
13.5%
YoA
13.5%
13.0%
12.7%
12.4%
12.3% 12.2% 12.4%
Ratios:
Syariah Financing (Rp tn)
Financing
99.1%
FDR
CoF
6 2%
6.2%
5.7%
92.8%
91.1%
Q4 '08
Q1 '09
5
5.6%
Q3 '08
11.15
6..3%
13.43
6.4%
13.25
6.3%
10.31
13.77
7%
6.7
12.73
5
5.6%
86.9%
6.3%
89.1%
6.1%
89.2%
9.30
5.7%
91.1%
6.8
8%
90.2%
5.4% 5.3% 5.4% 5.4% 5.3% 5.3%
NIM
7.41
Q4 '06
Q3 '07
Q4 '07
Q1 '08
Q2 '08
2005 Q4 '06 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09
39
Micro & Retail Banking:
Rapidly growing our high margin business
Contribution Margin (after PPAP)
Performance to Date: Q1 2009
Rp bn
Strategies for 2009
Rp bn
Q4
548
4,594
1. Leverage our strength in
Corporate and large
Commercial customers to
quickly build high margin
i kl b ild hi h
i
business
Q3
Q2
894
1,257
,
Q1
1,365
2. Continue to improve our
payment infrastructure
ti f t t
1,159
1,416
32
1,126
3. Expand our distribution with
a focus on high margin
b i
business
2,204
318
572
1,045
740
740
574
139
2007
* Includes Deposit Insurance
4. Improve our sales culture and
productivity of existing
network
t
k
28 5%
28.5%
876
2008
1,126
5. Cross sell to grow our fee
based income business
2009
40
Consumer Finance:
Significant growth in spread and fee income
Contribution Margin (after PPAP)
Performance to Date, Q1 2009
Rp bn
Rp bn
72
Q1
Q2
Q3
Q4
831
113
373
639
986
69
324
158
831
412
79
133
161
100
200
170
51%
90
262
NII
Fees
Overhead
Operating
Profit
Provisions
Profit After
PPAP
143
150
174
2006
2007
2008
2009
41
S
Supporting Materials
i M
i l
42
Key Quarterly Balance Sheet Items & Financial
Ratios
IDR billion / %
Q1 ‘08
FY ‘08
Q1 ‘09
Gross Loans
135,511
174,498
176,878
30.53%
88 588
88,588
88 259
88,259
88 375
88,375
(0 24%)
(0.24%)
Total Assets
299,585
358,439
347,626
16.04%
Customer Deposits
223,918
289,112
272,048
21.49%
T lE i
Total Equity
30 569
30,569
30 514
30,514
31 942
31,942
4.49%
%
RoA ‐ before tax (p.a.)
2.59%
2.52%
2.35%
RoE – after tax (p.a.)
18.59%
18.06%
17.93%
Cost to Income(1)
41.37%
42.26%
35.05%
5.03%
5.45%
5.47%
59.18%
59.16%
63.84%
5.14%
4.73%
5.85%
116.02%
127.14%
116.56%
Tier 1 CAR(2)
18.76%
12.83%
13.78%
Total CAR(2)
22.42%
15.83%
15.37%
Total CAR incl. Market Risk
22.14%
15.77%
15.30%
66.2
254.5
66.99
1.21%
1,456
1,462
1,528
4.95%
Government Bonds
Government Bonds
NIM (p.a.)
LDR
Gross NPL / Total Loans
Provisions / NPLs
( p)
EPS (Rp)
Book Value/Share (Rp)
(1) (G&A and employee expenses) / (Net Interest Income + Other Operating Income), excluding bond
gains
(2) Bank only – Not including Market Risk
Y‐o‐Y (%)
43
44
5
138.5
1
108.8
55.1
1
107.8
57.6
105.1
1
106.9
64.5
34.1%
60.6%
75.9
19.0% 19.0%
65.4
36.1
75.4% 74.1%
41.0%
94.4
60.7
50.6
40.6%
Int. from Bonds
54.0
47.1%
11
17.7
59.2
40.9%
114.3
46.9%
56.1
50.1%
16.3
11
50.0%
Int. from Loans
59.2
34.8%
121.7
6
61.2
60.5 48.3
4
33.4 43.0
0
60
90
120
150
180
210
240
270
300
330
360
0
27.0 44.0
Q3
3 '08
88.4
Q2
2 '08
88.6
Q1
1 '08
89.5
Q4
4 '07
90.8
Q3
3 '07
89.5
Q2
2 '07
90.6
Q1
1 '07
90.6
Q4
4 '06
91.0
Q3
3 '06
92.3
Q2
2 '06
92.2
Q1
1 '06
92.1
Q4
4 '05
93.1
Q4
4 '04
122.9
Q4
4 '03
148.8
Q4
4 '02
153.5
Q4
4 '01
176.9
Q4
4 '00
177.4
Q4
4 '99
Consolidated
91.1
88.5
Other Assets
135.5
5
Q4
4 '08
Loans
75.5
88.3
Government Bonds
149.6
52.2%
66.7
56.8%
162.8
67.4
Q1
1 '09
0
174.5
88.4
30
95.7
31.0% 32.3% 32.4% 29.3% 29.3%
58.8% 59.1% 57.2%
176.9
Total Assets (Rp tn)
Total Assets fell 3.0% to Rp347.6 tn in Q1 ‘09
2.4
82
Additional Factors
Written‐off
Loans
Loan Collateral
Undervalued
Aggregate of Rp35.766 tn (US$ 3.095 bn) in written‐off loans as of end‐
March 2009, with significant recoveries on‐going:
g
g g
2001:
Rp2.0 tn
2002:
Rp1.1 tn
2003:
2003:
Rp1.2 tn
Rp1.2 tn
2004:
Rp1.08 tn
2005:
Rp0.818 tn (US$ 83.2 mn)
2006:
2006:
Rp3 408 tn (US$ 378.5 mn)
Rp3.408 tn
(US$ 378 5 mn)*
2007:
Rp1.531 tn (US$ 249.3 mn)
2008:
Rp2.309 tn (US$ 211.8 mn)
Q1 ’09:
Q1 ’09
R 0 345 t (US$ 29.9 mn)
Rp0.345 tn
(US$ 29 9
)
* including the write‐back of RGM loans totaling Rp2.336 tn
Collateral values included for provisioning purposes on only 19 accounts,
carried at approximately 30.2% of appraised value.
carried at approximately 30.2% of appraised value.
45
Summary Quarterly Balance Sheet: Q1 ‘08 –‘09
Q1 ‘08
Q2 ‘08
Q3 ‘08
Q4 ‘08
Rp (tn)
Rp (tn)
Rp (tn)
Rp (tn)
Rp (tn)
US$ (bn)#
%
299.59
4.87
23.07
14.24
2 04
2.04
304.68
5.20
22.84
1.92
4 55
4.55
318.67
8.28
21.86
0.28
11 07
11.07
358.44
8.37
347.63
6.07
31.02
0.72
16.0%
24.8%
13.35
21.30
13 65
13.65
12.92
16.05
3 01
3.01
1.16
1.84
1 18
1.18
(44.0%)
12.7%
47 7%
47.7%
12.45
12.80
6.96
21.60
27.49
1.87
120.9%
4.10
88.59
0.62
26.77
61.20
135 51
135.51
127.60
7.92
4.05
88.39
0.51
26.68
61.20
149 61
149.61
141.80
7.81
3.88
88.52
0.42
26.65
61.45
162 79
162.79
154.84
7.95
3.32
3.89
88.26
88.27
0.44
0.01
0.29
7.64
0.04
(5.0%)
(0.4%)
(98.1%)
26.24
61.97
174 50
174.50
26.22
62.03
176 88
176.88
2.27
5.36
15 10
15.10
(2.0%)
1.4%
30 5%
30.5%
165.17
9.33
165.51
11.37
14.29
0.81
29.7%
43.6%
Allowances
Loans – Net
(9.18)
126.33
(9.57)
140.04
(11.04)
151.75
(11.86)
162.64
(13.25)
163.63
Total Deposits – Non‐Bank
Demand Deposits
223.92
50.34
236.21
57.93
245.33
56.62
289.11
69.09
272.05
64.75
(1.03)
14.08
25.02
5.98
44.3%
29.5%
21.5%
28.6%
85.85
93.32
87.14
94.95
91.00
8.22
6.0%
87.73
30.57
84.97
27.71
101.57
29.05
125.07
30.51
116.30
31.94
10.82
2.64
32.6%
4.5%
Total Assets
Cash
Current Accounts w/BI
Certificates of BI
Other Placements w/BI
Other Placements w/BI
Current Accounts & Placements
w/Other Banks
Securities ‐ Net
Government Bonds
Trading
AFS
HTM
Loans
Performing Loans
Non‐Performing Loans
Savings Deposits
Certificate & Time Deposits
Shareholders’ Equity
Q1 ‘09
Y‐o‐Y
# USD1 = Rp11,555
46
Reconciliation to IFRS
Net profit under Indonesian GAAP
FY ’03
FY ’04
FY ’05
FY ’06
FY ’07
FY ’08
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
4,586
5,256
603
2,421
4,346
5,312
(662)
(309)
(309)
(2 681)
(2,681)
1 598
1,598
1 934
1,934
2 474
2,474
104
70
(223)
44
(2)
(114)
52
52
(21)
‐
25
‐
‐
‐
‐
‐
‐
‐
‐
IFRS Adjustments
Allow for possible losses on earning assets
Allow. for possible losses on earning assets
Allow. for possible losses on commitments &
contingencies
Change in fair value of derivatives
Change in fair value of derivatives
Employee benefits
Accretion on deferred inc. arising from loan
purchase from IBRA
p
55
10
9
4
(17)
‐
De‐recognition of revaluation of premises &
equipment
199
75
25
30
26
21
Net Adjustment
Net Adjustment
‐
‐
82
(191)
‐
‐
38
(90)
‐
‐
861
(2,008)
(137)
‐
(503)
1,037
(7)
‐
(583)
1,351
(7)
‐
(659)
1,715
Net profit in accordance with IFRS
4,395
5,166
(1,405)
3,458
5,697
7,021
Rights of Lands amortization
De‐recognition of allowances
Deferred income taxes
IFRS = International Financial Reporting Standards
47
Limited Impact on Government Recap Bonds
Bonds by Rate Type & Portfolio as of Mar 2009 (Rp bn)
Recap Bond Portfolio by Type and Maturity (Rp88,375 bn)
Maturity/
y/
Rp bn
Trading Portfolio
Nominal
MTM
Available for Sale
Nominal
MTM
70
Held to
Maturity
Variable Rate
40
< 1 year
10 year
> 10 year
89
89
71
71
134
134
0
121
557
536
2,288
129
10 year
‐
‐
10,942
10,926
23,509
Sub Total
‐
‐
25,839
25,685
129
121
26,396
26,221
0 56
0.56
59 745
59.745
25.839
0.13
Trading*
AFS#
HTM^
* Mark to Market impacts Profit
# Mark to Market
k
(
) bk
Q1 2009
Q1 2009
Results Presentation
Results Presentation
Bank Mandiri Presentation Contents
Results Overview
2009 Financial Highlights
2009 Growth Momentum and Balance Sheet
Loan Growth & LDR
Strategy Overview
Deposit Franchise Development
Net Interest Margins
High‐Yield Lending Activities
Wholesale Lending, Fees and FX Activities
NPL Movement, Asset Quality & Provisioning
o e e , sse Qua y
o so g
New NPL Formation
Enhancing Risk Management
Overhead Expense Details
Leveraging SBU Alliances & Subsidiaries
Summary P&L
CAR, ROE, PAT
Page #
2
3‐4
5‐7
8‐9
10‐13
14
15‐17
18‐20
21‐23
3
24
25
26
27‐29
30‐31
32
Operating Performance Highlights
Operating Performance Highlights
33‐41
33
41
Supporting Materials
42‐81
1
Key Financial Highlights
Bank Mandiri’s Q1 2009 Performance continued to demonstrate marked
p
y
improvements in several key indicators:
Q1 ‘08
Q1 ‘09
%
Rp135.5 tn
Rp176.9 tn
30.5%
1.31%
1.46%
11.5%
5.14%
5.85%
13.8%
60.8%
57.2%
(5.9%)
Rp136.2 tn
Rp155.7 tn
14.4%
NIM
5.03%
5.47%
8.8%
Efficiency Ratio
41.1%
35.1%
(14.6%)
1,389 bn
b
1,400 bn
b
0.8%
Loans
Net NPL Ratio
Gross NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
f
2
Maintaining momentum for growth
Loans by SBU*
(Rp Tn)
150
135
120
105
90
75
60
45
30
15
Y‐o‐Y
4.38 4.55 57.1%
14.10 12.9%
4.04 14.82
13.42
3.46
19.27 19.66 24.9%
12.90
2.68 2.90
18.74
12.49
13.08
17 52
17.52
2.20
41.56 40.64 24.1%
14.23 15.74
9.91
1.94
38.71
1.73 8.86
12.78
7.56
36.48
11.08
4.44 4.41 29.9%
31.46
3
.46
10 66
10.66
32 75
32.75
4.33
28.90
4.06
24.36
2.82 3.39
25.85
0.91 2.14
62.04 64.12 51.7%
0.95
55 17
55.17
44.84 42.27 47.77
36.12 34.67
29.94
Micro
Comm
Small
Int'l
Cons
Corp
Deposits by Product – Bank Only
(Rp Tn)
275
250
50
FX Time
FX Demand
FX Savings
21.35
9 8%
16 16 9.8%
16.16
15.93
225
200
Rp Time
Rp Demand
Rp Savings
14.72
15.65 12.56
175
73 43
73.43
Y‐o‐Y
14.69
16.07
95.69
91.94 37.8%
63.34 78.16
66.70
150
93.20
125
15.09
80.47 9.78
11.88
13.53 10.49
19.51 64.2%
51 82
51.82
41.30 43.97
42.99 18.1%
9.07
36.39
7.72 6.37 7.38 8.15 52.0%
11.39
33.61 4.70 5.36
30.12 4.12
3 50
3.50
81.54 76.29 80.81 75.80 82.23 77.24 1.2%
57.61
45.17
50.43
100
75
50
25
0
0
Q4 '05Q4 '06Q3 '07Q4 '07Q1 '08Q2 '08Q3 '08Q4 '08Q1 '09
Q4 '05Q4 '06Q3 '07Q4 '07Q1 '08Q2 '08Q3 '08Q4 '08Q1 '09
Q4 '05 Q4 '06
Q4 '05
Q4 '06 Q4 '07
Q4 '07 Q1 '08
Q1 '08 Q2 '08
Q2 '08 Q3 '08
Q3 '08 Q4 '08
Q4 '08 Q1 '09
Q1 '09
*Cash Collateral Loans have been reallocated to Small Business
3
Strong and liquid balance sheet
(Rp Bn, Bank Only)
Amount
% of
Assets
5,817
1.78%
SBI & BI Placement (net)
29,262
Placement w/other banks
(net)
( )
Marketable Securities (net)
Assets
Amount
% of Liab.
Current Account
62,498
19.18%
8.98%
Savings
85,391
26.20%
26,713
8.20%
Time Deposits (Rp)
91,936
28.21%
4,889
,
1.50%
Time Deposits (Fx)
p
,
16,165
4.96%
87,934
26.99%
Total Deposits
255,989
78.56%
Loans (Gross)
160,072
49.12%
Securities Issued
687
0.21%
Provisions
(12,568)
(3.86%)
Deposits from other banks
9,052
2.78%
Other Advances (net)
6,263
1.92%
Borrowings
7,657
2.35%
Investments
3,490
1.07%
Other Interest bearing liabilities
2,830
0.87%
Other Assets
13,990
4.29%
Non Interest bearing liabilities
17,705
5.43%
Equity
31 942
31,942
9 80%
9.80%
Total
325,863
100.00%
Cash
Government Bonds
Total
325,863
100.00%
Liabilities
4
FX LDR continues to decline along with FX Loans
FX Loans
FX Loans* & LDR
(USD million)
4,254
3,765
3,158
895
582
32 3
Loans (Rp tn)
3,755
282
45 6
730
691
984
984
4,011
3,822
247
44
44
248
34
22
38
687
694
55 3
(264)
123 7%
123.7%
3,348
382
33 9
617
980
3,084
104.4%
102.5%
378
16
16
132
111.0%
95.9%
80.5%
588
78.3%
34.3
35.3
3
36.6
2,306
34.3
2,998
33.4
2,820
33.8
2,731
31.3
2,908
3
37.6
290
8
282
466
LDR (%)
131.1%
1,969
1,834
1,163
2005
2006
Current
2007
Q1 '08
S.Mention
Q2 '08
Sub Standard
Q3 '08
Q4 '08
Doubtful
Q1 '09
2005
2006
2007 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09
Loss
5
LDR of 63.8% reflecting strong liquidity…
Quarterly Loan Data – Consolidated
Quarterly Loan Segment Details – Bank Only
Corporate
Commercial
S ll
Small
Micro
Consumer
Loans (Rp tn)
65.0%
% 63.8%
63 8%
62.2%
59.2%
LDR (%)
LDR (%)
53.7%
57.2% 56.4%
54.3%
42.3
40 2 38.2
40.2
38 2
42.5%
35.4%
31.4
76.4 78.8
68.7
59.7
53.6
61.1
55.4
50.5
44.7
35.7
32.6
36.4 35.5
32.5
39.1
39
1 41.2
22.2
26.3%
2.7 2.9 3.5 4.0 4.4 4.6
Loans
(Rp tn)
Y‐O‐Y Growth
(%)
% of
Portfolio
Corporate
78.78
42.31%
49.22%
Commercial
42.64
19.99%
26.64%
Small
14.43
10.42%
9.02%
Micro
4.55
57.00%
2.84%
Consumer
19.66
24.75%
12.28%
Total
160.07
30.53%
100.00%
As of March 2009; Non‐consolidated numbers
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
QoQ Growth (%)
YoY Growth (%)
18.7 19.3 19.7
13.7 13.1 13.3 13.8 15.1 14.4
Q3 '07
1.37%
Q2 '07
30.5%
Q1 '07
By Segment
(Bank only)
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '00
Q4 '01
176.9
174.5
162.8
149.6
135.5
138.5
121.7
116.3
114.3
117.7
106.9
94.4
75.9
65.4
48.3
43.0
11 7
11.7
11 1
10 7 11.1
8.5 10.7
1.5 3.7
10.2
10.0
7.6
1.9 2.1
1.7
17.5
14.3 15.8
43.8 42.6
6
Rp21.1tn in loans disbursed in Q1 ‘09
Loan Disbursement by Segment (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only
1 57
1.57
21.11
12.16
9.38
2.18
159.01
1.14
0.69
1.29
160.07
3.77
21.11
13.35
Q4 '08
Disburs.
Install.
Payment FX Impact Write‐Offs
Q1 '09
Corporate
Commercial
Small
Micro
Cons Fin
Total
7
Committed to Improving Shareholder Value
Reduce Cost of Funds
Reduce Cost of Funds
Business Strategy
Improve Assets Yield
Diversify into Fee Income
Competitive,
sustainable
sustainable
returns, with
above‐average
rates of growth
t
f
th
Reduce Provision/NPL
d
ii /
Support Strategy
Strategic
Alliances
Reduce Cost Efficiency
Leverage on cash generator to
accelerate growth in higher yield
business
8
Building on our Business and Support Strategies
with an Alliance Focus
with an Alliance Focus
Alliance Strategy Focus
Cross sell products to
employees as customers:
employees as customers:
‐ Payroll
‐ Mortgage or auto loans
‐ Corporate/ Retail cards
Corporate
SBU
Strategic
Alliances
Business Strategies
Improving supplier network and
distributor
‐ Providing basic transaction
and cash management
‐ Supporting suppliers and
distributors in working capital
financing
1. Strengthening our deposit franchise, to become
primary payment bank
2. Developing high yield business
3. Enhancing wholesale franchise and diversifying
wholesale transactions
4 Connecting the business, leveraging synergy
4.
Connecting the business leveraging synergy
5. Non‐organic growth & synergy in optimizing
subsidiaries
Cross sell products for employee as customers : Payroll, mortgage, auto
loans commercial / retail cards
loans, commercial / retail cards
Developing wealth management for individual Director or owner operators
Support Strategy
Efficiency
Risk Management
Increase IT Operations
efficiency and
centralized and
consolidated
procurement
Increase earning assets
monitoring and
perfecting early
warning signal
Consolidated risk and
monitoring subsidiaries
Human Capital
Enhance employee
productivities and
internal culture
Apply best practice for
recruit, retain and
develop
Information Technology
Implement Business
Solution Excellence to
support payment bank
strategy
Performance Culture
Apply Value Based
Management as the
next step of
Performance Culture
Implement Service
Excellence Strategy to
support business growth
b i
h
and services
9
Q1 Deposits rise 21.1% Y‐o‐Y
Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
Rp Demand Deposits
Rp Time Deposits
FX Savings Deposits
FX Demand Deposits
FX Time Deposits
Low‐Cost Deposits (%)
16.1 78.2
15.1
19.5
13.5
10.5
11.9
10% 9.5%
7.4 8.2
6.4
9.9%
7.4%
5.3%
3.5%
3.7%
3.0%
3.3%
2.8%
2.5%2.5%2.2%2.8%
2.6%
0%
FX DD
FX TD
6%
4%
77.2
82.2
75.8
80.8
76.3
81.5
65.7
62.5
57.2
57.6
45.2
52.0
40.6
29.6
0
7.4%
6.9%6.8%
6.3%
3.6%3.2%
3.8%4.2%
3.0%2.9%
7.4%
4.7%
6 1%
5% 6.1%
4.9 4.7
3.5
9.5%
9.2%
8.2%8.0%8.3%
9.3%
9.1%
8 8%
8.8%
43.0
51.8
44.0
41.3
36.4
4.7 5.4
7.7
10.9%
10.4%
11.4%
63.3
66.7
9.8
50.4
35.4
33.1
31.0
33.6
30.1
2
28.8
4 1 4.2
4.1
42
14.7
73.4
69.1
70.0
2.9
72
80.5
14.611.2
9.1 10.2
14.7
1
15.9
13.7
12.1
9
13.9
12.6
93.2
11.911.4
28.0
0
9.1
66.5
80.5
24.8
31.2 22.1
31.118.0
25
97.1 14.114.3
50
100.7
87.8
8
23.1%
106.9
32.9%
75
11.6
31.4%
61.5% 59
59.2%
2%
57.2%
Rp Savings
1 Mo. SBIs
11.9%
57.8%
58.6%
54.2%
44.5% 45.3%
125
100
1
17.3
21.5
16.5
150
20
0.6
23..4
175
15.7
200
13.1%
13.9%
16.2 91.9
9
250
21.4 95..7
275
225
Rp DD
Rp TD
15%
2%
4.0%
3 7%
3.7%
3 9%
3 7%3.9%
3.7%
2.8%
2.1%
1.9%
1.6%1.8%
1.1%
2.6%
2.4%
0%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q4 '99
10
Building a strong savings deposit franchise…
Transaction channel growth
Savings Deposit Growth
Savings Deposits (Rp tn)
g
p
( p )
Other
Other
Payment
Transfer
Withdrawal/Inquiry
Avg ATM Daily Vol (000)
As % of Total Deposits
National Share of Savings Deposits (%)
57.09 55.80 61.63
97.39
74.71
84.70
54.48
51.04 65.9
49.59 58.76
55 00
55.00
40.0%
38.6%
35.6%
34.6%
30.81
19.6
32.8% 33.4%
1,1
100.5
1,0
043.4
9
976.7
8
899.7
8
853.4
6
677.0
6
607.5
29 2%
29.2%
4
492.1
22.8%
37.37
39.07
1,0
088.8
30.6%
29.79
29.3
22.7%
18.5%19.1%19.3%
17.5%
17.9%18.0%
17.2%
16 9%
16 2%16.9%
16.2%
16 0%
16.0%
Quarterly Call Center Trans. (000)
12.8%
11.6%
2,955
Quarterly SMS Trans. (000)
3,009
15.3%
11.0%11.7%
2,988 2,784
3,029
3,464
1,722
17,969
19,772
18,116
22,328
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
16,974
Q4 '06
25,819
11,575
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
6,988
85.39
89.61
82.16
88.52
81.65
81.54
57.60
45.20
52.00
40.50
29.59
22.12
17.96
27
1,016
679
3,072
1,069
,
1,086
11
…through an enhanced transaction capability
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
120
114.98
ATM
Branch
SMS Banking
Internet Banking
100
75
70.10
Quarterly Users (000s)
11,000
10 006
10,006
10,000
110.13
99.83
9,950
SMS Banking
57.66
60
88.75
Debit Cards
64.68
49.11
Internet Banking
9,000
8,828
7,629
8,000
77.89
80
67.76
69.97
40.71
45
6,000
35.54
60
6,642
7,000
31.87
5,752
2
5,024
4,793
4,355
5,000
40
35.10 36.24 36.55
8.33
41 39
41.39
30
ATM
SMS Banking
Internet Banking
40.59
16.97
20
0
0
38.51
42.11
19.77
25.82
22.33
15
2,989
3,000
2,000
11.57 12.24
6.08
5.55
1.71 2.39 3.37
0.84 1.31
0
0
1,000
2,413
1,897
,
1,523
1,089
849 988
705
564
358 469
0
0
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
4.04
3.81
3.61
2.20
0.56 0.88 1.60
1 02 1.81
0.28 0.36 0.55 0.71 1.02
1.28
3,652
4,000
12
Enhancing deposit franchise, building on wholesale
transactions
Cash Management Growth in Commercial Banking
Wholesale Deposit Growth (CASA)
(Rp tn)
# of Customers
21
2.1
Comm Savings
Comm Demand
Corp Savings
Corp Demand
1.8
Total Transactions
(000)
1.5
+9.4%
21 0
21.0
19.4
19.3
0.6
0.6
0.7
12.1
14.8
4,450
632
34.0
24.9
36.5
34.2
4,066
407
2,414
23.0
154
2005
2006
2007
2008
Q1 '09
2007
2008
Q1 '09
745
2006
2007
2008
Q1 '09
13
Q1 NIM rises to 5.5% on asset yields of 10.7%
Quarterly Net Interest Margins*
13.0%
Quarterly Yields & Costs by Currency*
20% 18.9%
Yield on Assets
Cost of Funds
13.0%
15% 14.0% 13.1%
10.8%
14.0%
11.0%
10.7%
10.8%
9.5%
8.9%
10.7%
10.5%
10.1%
9.3%
9.2%
9.0%
9.4%
7.3%
11.1% 10.9%
10.6%
10.4%
7.4%
10.8%
8.2%
6.9%
5%
13.2%
12.9%
12.1% 12.0%
8.8%
8.2%
8.0%
7.7%
5.0%
5.4%
8.3%
10.3%
9.1%
8.0%
5.8%5.9%
4.6%
4.0%
0%
4 8%
4.8%
NIM
13.2%
11.9%
12.5%
11.7%
7%
10% 11.1% 11
6.4%
6.3%
IDR
15.9%
5.5%
5.3%
4 8%
4.8%
Avg Loan Yield
Avg 1‐Mo. SBI
15%
4.5%4.3%
4.2%
3.8%
10%
FX
9.5%
7.6%
6.5%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
4.9%
5.5%
4.9%
3.6%
4.3%
3.7%
2.8%
3.9%
2.4%
5% 6.7%
7.3%
3.8%
5.1%
5 7%
5.7%
5 3%
5.3%
5 8%
5.8%
6.8% 6.5%
5.3%
5.3%
4.9%
2.7%
3.0%
3.4%
3.5%
2.6%
2.2%0.5%
4.0%
1.8%
1.4%
0%
2.7%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
*Excluding the impact of non‐recurring interest income
Avg Bond Yield
Avg COF
14
Building our high yield business in Micro & Small…
Small Credits
(Rp Bn)
Micro Credits
(Rp Bn)
Loan
Yields
13.6%
21.4%
3,593
Growth
Q1 2009
181
0
26.0%
Q1 2008
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
17,410
Q1 2008
13,817
7
Q1 2009
12.8%
14,100
Growth
12,494
4
4,553
2,89
99
Q1 2008
13.8%
1,606
1,654
57.1%
Consumer Loans
(Rp Bn)
Growth
Q1 2009
Disbursement Breakdown (Q1 ‘09)
Disbursement Breakdown (Q1
09)
1,405
212
242
401
253
900
1,129
198
1 293
1,293
611
599
229
TOTAL
Cash Coll
TOTAL
Coops
Unsecured Micro
Program
Micro
Non‐Prog
Rural Banks
Mortgage
Home Equity Payroll Loan
Loan
Other
Total
15
…as well as Consumer lending, which rose 24.9%
g g
y
Y‐o‐Y on Mortgages and Payroll Loans
Quarterly Consumer Loan Balances by Type
Consumer Loan Growth by Type
Rp19.66 tn
3,697
3,761
3,702
3,983
3,658
8
3,612
8,37
76
8,052
7,7
717
7,,199
6
6,393
5,382
3,865
3,437
3,404
3,663
3,010
1,426 2,644
4
3,522
3,610
3
3,192
1,908
8
1,358 2,42
27
3,666
3,574
4,501
1,293 2,28
85
3,867
3,452
3,390
1,231 2,165
3,979
2,789
96
1,241 1,99
815 1,802
0
328
283
3,250
2,000
4,033
21
2,852 1,522
4 000
4,000
06
1,279 1,90
1,270 1,921
6,000
3,050
72
8 000
8,000
350
4,131
10,000
218 224 230
1,367 1,930
180 196 211
1
1,678
12 000
12,000
425
3,999
495
1,926
14,000
2,251
619
Mortgages
2,008
16,000
3,721
956
Home Equity Loans
Home Equity Loans
3,993
Payroll Loans
1,145 2,11
13
Credit Cards
18,000
1,279 2,223
3
Other
1,353
20,000
Loan Type
Growth (%)
Y‐o‐Y
Q‐o‐Q
Other*
118.48%
5.83%
Credit Cards
16.88%
1.25%
Payroll Loans
24.79%
(0.24%)
Home Equity Loans
Home Equity Loans
2 34%
2.34%
(0 65%)
(0.65%)
Mortgages
31.03%
4.03%
Total Consumer
24.89%
2.04%
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q4 '05
Q4 '04
Q4 '03
* Auto & Motorcycle Loans channeled or executed through finance
companies = Rp4.92 tn in our Commercial Loan Portfolio
* Auto loans through Tunas Finance of Rp77bn booked in the
Consumer Loan Portfolio in Q1
16
42
18 8
81 56 23 68
24 16 10
59
62 61 57
3
72
11
68
17
67
19
62
17
58
9
61
10
62
32
57
919
226
338
651
784
752 765
817
872
17
59 19 39
63 63 59
1,409
1,331
1,273
1 226
1,226
1,159
1,089
1,033
966
Transfer Balance
Cash Advance
Retail
Receivables (Rp Bn)
Cards (000s)
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
Mandiri Visa & Mastercards and EOQ Receivables
1,409k Visa & Mastercards transacted Rp2.0 tn
in Q1 2009
1,891
1
Q1 '09
1,914
4
Q4 '08
1,904
4
Q3 '08
1,668
8
Q2 '08
1,443
3
Q1 '08
1,514
4
Q4 '07
1,225
5
Q3 '07
1,067
7
Q2 '07
936
6
Q1 '07
836
6
Q4 '06
755
5
Q3 '06
621
1
Q2 '06
553
3
Q1 '06
600
0
Q4 '05
606
6
Q3 '05
532
2
Q2 '05
521
1
Q1 '05
535
5
Q4 '04
2,251.0
0
Q1 '09
2,223.2
2
Q4 '08
2,112.7
7
Q3 '08
2,007.7
7
Q2 '08
1,925.9
9
Q1 '08
1,907.5
5
Q4 '07
1,677.6
6
Q3 '07
1,426.2
2
Q2 '07
1,357.5
5
Q1 '07
1,292.8
8
Q4 '06
1,230.7
7
Q3 '06
1,240.8
8
Q2 '06
1,279.4
4
Q1 '06
1,367.4
4
Q4 '05
1,270.2
2
Q4 '04
814.9
9
Q4 '03
567.5
5
Q4 '02
Diversifying our strength in Wholesale lending…
Breakdown of Net Expansion in Corporate Lending
Q1 ’08 – Q1 ’09 (Total Rp23.42 tn)
%
Breakdown of Net Expansion in Commercial Lending
Q1 ’08 – Q1 ’09 (Total Rp7.10 tn)
%
Mf F&B
Mfg‐F&B
5 608
5,608
67 30%
67.30%
B S
Bus Serv
4 290
4,290
197 35%
197.35%
Bus Serv
3,082
100.88%
Constr
1,176
24.47%
Mfg‐Chem
2,909
60.95%
Agri
879
23.67%
Trans
2 380
2,380
41 84%
41.84%
Trad‐Distr
d
726
36 72%
36.72%
Mfg‐Oth
2,331
34.89%
Trans
642
34.34%
Agri
2,199
35.77%
Trad‐H&R
610
65.09%
Constr
2,020
,
83.19%
Mfg‐P&P
67 38%
67.38%
Trad‐Oth
1,396
154.58%
599
569
34.10%
1,133
44.64%
Mfg‐Text
Mfg‐Text
Utilities
68.23%
Mfg‐Oth
522
13.21%
992
Mining‐Oth
474
28.65%
Mfg‐F&B
500
29 82%
29.82%
Other
281
24.92%
Mfg‐Chem
475
15.47%
148
5.75%
Mfg‐Wood
(200)
(34.00%)
Trad‐Oth
Mining‐Oil & Gas
(341)
(5.49%)
Soc Serv
(12)
(3.12%)
Mfg‐Metal
(395)
(33.32%)
Mining
(21)
(2.06%)
Trad‐Distr
(514)
(25.93%)
Utilities
(722)
Rp Billion
Trad‐H&R
(86.34%)
(529)
(66.24%)
Rp
p Billion
Oth
(87.54%)
(3,281)
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
(3,000)
(4,000)
6,000
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
18
…into Fee‐based Income
Breakdown of Q1 2008 & 2009 Non‐Loan Related Fees & Commissions (Rp bn)
Non‐Loan
Non
Loan Related Fees & Commissions
Related Fees & Commissions
Q1 ‘08
Q1
08
Q4 ‘08
Q4
08
Q1 ‘09
Q1
09
Q1 %
(Q‐o‐Q)
Q1 %
(Y‐o‐Y)
237.43
311.78
290.33
(6.9%)
22.3%
81.75
141.57
121.41
(14.2%)
48.5%
139.73
82.98
79.83
(3.8%)
(42.9%)
Transfers, Collections, Clearing & Bank Reference
51.06
55.69
57.70
3.6%
13.0%
Credit Cards
78.85
112.67
113.35
0.6%
43.8%
Mutual Funds & ORI
10.32
13.32
6.17
(53.7%)
(40.2%)
Others*
165.87
217.17
162.89
(25.0%)
(1.8%)
Total
765.02
935.18
831.67
(11.1%)
8.7%
4,261.44
5,834.48
5,601.03
(4.0%)
31.4%
17.95%
16.03%
14.85%
(7.4%)
(17.3%)
Administration Fees
Opening L/Cs, Bank Guarantees & Capital Markets
Opening L/Cs, Bank Guarantees & Capital Markets
Subsidiaries
Total Operating Income
Total
Operating Income#
Non‐Loan Related Fees to Operating Income**
* Others includes Syndication, Payment Points, ATMs, Debit Cards, etc.
** Non‐Loan related fees & commissions/(Total Operating Income ‐ Non‐recurring interest income)
# Excluding non‐recurring interest income
19
Strong FX revenues but limited derivative
exposure
FX Fees(Rp bn) – Bank Only
Derivative Exposure (Rp bn) – Bank Only
800
Transactions
Q1
Notional Fair
Notional
Fair
Derivative Derivative
Derivative
Derivative
Amount Value Receivable Payables
Foreign Exchange
Forward ‐
d buy
b
600
Forward ‐ sell
Swap ‐ buy
Swap ‐ sell
694.3
400
2,344
2,347
23
21
82
80
2
‐
1 994
1,994
2 097
2,097
110
110
7
7
4,866
4,869
100
103
‐
9
9
245
139
(6)
‐
239
139
Interest Rate
Swap ‐ interest rate
Total
275.3
200
215.0
Less: Allowance for possible losses
ll
f
bl l
193.7
0
45.9
45
9
16.1
102.9
83.5
83.5
72 7
72.7
2005
2006
2007
2008
Total
2009
20
Q1 NPLs of Rp10.5 tn due to FX impacts as well as
Rp2.1 tn in downgrades
Non‐Performing Loan Movements (Rp bn) – Bank Only
0.35
2.14
8.53
0.69
Movement by Customer Segment (Rp Bn)
145.1
1.06 10.52
346.0
0.17
Cons
Micro/Small
C
Comm
Corp
342.1
1,309.3
28.6
80.5
295.9
24.1
11.2
136.2
Q4 '08
UG to PL DG to NPL Payment Write‐Offs
Other
Q1 '09
UG to PL
283 6
283.6
DG to NPL
W/O
21
Gross NPLs rise to 5.85% with provisioning
g
g
coverage still strong at 116.6%
NPL Movement ‐ Consolidated
Category 2 Loans – Bank Only
70.9%
%
212.6%
190.4%
201.7% 187.5%
175.8%
146.7%
25.28%
151.1%
139.1%
129.5% 128.8%
109.0%
16.34%
70.0%
44.4%
Cat 2 %
18,000
40%
16,000
14,000
30%
12,000
26 18%
26.18%
10,000
20%
8,000
15.86%
14 98%
14.98%
13.99%
12.87%
11.46%
6,000
1.5%
9.22%
10.20%
10%
0%
0
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Net NPL Ratio
Prov/NPL incl. Coll.
2,000
9.16%
16,332
15,412
13,502
13,451
14,058
15,148
15,586
15,854
16,750
16,966
12,912
8,334
10,983
16,202
12,655
15,350
4,033
1.5%
4,000
5..85%
4.73%
4.44%
4.74%
5.14%
7.17
7%
15.3%
7.10
0%
8.60%
7.30%
9.70%
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Gross NPL Ratio
Prov/NPL
116.6%
1
12.20%
%
15.47%
16.29%
19
9.80%
100 9%
100.9%
163.8%
163
8%
138.9%
122.6% 127.1%
86.7%
50%
20,000
,
2 ‐ Special Mention Loans (Rp Bn)
22
Cash Provisioning remains high for both NPLs
and Category II loans
Collateral Valuation Details
Non‐Performing Loans by Segment
NPLs
(Rp tn)
Q1
(Rp tn)
NPLs
(%)
Collectibility
1
2
3
4
5
Corporate
7.22
1.57
9.16%
Total Cash
Prov. (Rp bn)
1,528
2,716
1,062
472
6,791
Commercial
1.91
0.08
4.48%
SSmall
a
0.55
0
55
0.20
0
0
3.83%
3
83%
% Cash
o so s
Provisions
1.1%
16.6%
42.6%
54.7%
94.8%
Micro
0.26
0.03
5.68%
‐
4,306
59
‐
1,008
Consumer
0.58
0.11
2.97%
10 52
10.52
1 99
1.99
5 93%*
5.93%
12
1
‐
6
Total
Collateral Prov.
(Rp bn)
# of Accounts
* Excluding Restructuring Losses and loans to other banks.
• Bank Mandiri’s current provisioning policy adheres
to BI requirements
• As of 31 March ’09, loan loss provisions excess to BI
A f 31 M h ’09 l
l
ii
t BI
requirements = Rp697 bn
Provisioning
Policy
Performing
Loans
Non‐Performing
Loans
Collectibility
1
2
3
4
5
BI Req.
1%
5%
15%
50%
100%
BMRI Policy
1%
5%
15%
50%
100%
BMRI pre‐2005
2%
15%
50%
100%
100%
• Collateral has been valued for 19 accounts and collateral
provisions of Rp5,373 bn (30.2% of appraised value) have
been credited against loan balances of Rp6 829 bn
been credited against loan balances of Rp6,829 bn
• Collateral value is credited against cash provisioning
requirements on a conservative basis. For assets valued
above Rp 5bn:
– Collateral is valued only if Bank Mandiri has exercisable rights to
claim collateral assets
– 70% of appraised value can be credited within the initial 12
months of valuation, declining to:
•50%
50% of appraised value within 12 to 18 months
of appraised value within 12 to 18 months
•30% of appraised value within 18 to 24 months
•No value beyond 24 months from appraisal
23
Q1 2009 Annualized net downgrades of 3.64%
g
g
on loans originating since 2005
Total Loans originated since 2005
Net Upgrades (%)/Downgrades (%) #
Q1 2009 Details
Loan
Background
Q1 ‘09
Balance
Balance
(Rp bn)
Q1
2007
Q2
2007
Q3
2007
Q4
2007
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
DG to
NPL
%
UG to
PL
%
Corporate
58,516.3
‐
0.49
0.55
‐
‐
0.10
0.11
0.48
1.05
1.05
‐
Commercial
26,999.5
0.11
0.60
0.18
0.02
0.33
0.14
0.21
1.05
0.78
0.98
0.2
Small/Micro
14,982.7
1.87
1.56
1.07
0.59
0.92
0.58
0.59
1.20
1.06
1.12
0.07
Consumer
17,774.6
0.78
0.34
0.28
0.01
0.42
0.13
0.22
0.13
0.49
0.60
0.10
Total
118,273.0
0.42
0.29
0.23
0.08
0.28
0.18
0.21
0.65
0.91
0.98
0.07
# % downgrades and upgrades
# % downgrades
and upgrades are quarterly % figures
are quarterly % figures
24
Strengthening Risk Management & Monitoring
y
System
Summary of Risk Management Initiatives
Corporate Customer by Rating
C dit
Credit
• Enhance business process credit approval, CR
methodologies & tools (monitoring system)
• Develop & enhance collection systems
Develop & enhance collection systems
• Optimize credit portfolio management system
• Consolidate risk profile (incl. overseas offices &
subsidiaries – Credit, Market & Operational)
Market
•
•
•
•
•
High Risk (Rating C‐ G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
100%
15%
80%
12%
11%
24%
21%
5%
28%
34%
60%
%
Implementation of stress test analysis
Development of derivative system (summit)
Enhance Risk Mandiri Policy (KMRBM)
Enhance Treasury policy
yp y
Implement Risk Profile System (RPM)
40%
64%
20%
68%
67%
51%
Operational
• ORM implementation in all unit, incl. overseas
offices & subsidiary
• Set up Operational Risk Committee under RCC
• Synchronization of Risk‐Based Audit
methodology with RCSA (ORM)
0%
2006
2007
2008
Q1 '09
25
Q1 Cost to Income Ratio drops to 35.1% on
restrained G&A expenses
p
Quarterly Consolidated Operating Expenses & CIR*
Breakdown of Q1 2008 & 2009 Operating Expenses
CIR* (%)
Annual Avg CIR (%)
g
( )
Q1 ‘08
Q1
Q1 ‘09
QoQ
Q‐o‐Q
YoY
Y‐o‐Y
Personnel Expenses
58.9%
47.2%
47.2%
40.4%
42.3%
40.2%
40.4%
35 1%
35.1%
28 2%
28.2%
Base Salary
354,924
353,273
(1.09%)
(0.47%)
Other Allowances
Other Allowances
422 893
422,893
470 163
470,163
(20 16%)
(20.16%)
11 18%
11.18%
Post Empl. Benefits
93,295
140,269
48.37%
50.35%
Training
29,299
29,982
(31.31%)
2.33%
104,093
,
122,371
,
8.88%
17.56%
1,004,504 1,116,058
(6.74%)
11.11%
Subsidiaries
G & A Expenses
1,116
72
1,17
1,175
929
795
1
1,005
1,309
9
1,049
869
377
327
649
1,2
241
723
1,197
Total Personnel
Expenses
957
7
336
753
775
749
1,034
842
1,016
710
748
957
993
769
1,034
916
1,148
827
Q
Q4 '00
Q
Q4 '01
Q
Q4 '02
Q
Q4 '03
Q
Q4 '04
Q
Q4 '05
Q
Q4 '06
Q
Q1 '07
Q
Q2 '07
Q
Q3 '07
Q
Q4 '07
Q
Q1 '08
Q
Q2 '08
Q
Q3 '08
Q
Q4 '08
Q
Q1 '09
G&A Expenses (Rp bn)
Personnel Expenses (Rp bn)
*Excluding the impact of non‐recurring interest income & bond gains
IT & Telecoms
IT & Telecoms
190 850
190,850
165 624
165,624
(24 04%)
(24.04%)
(13 22%)
(13.22%)
Occupancy Related
193,533
228,051
(27.05%)
17.84%
Promo. & Sponsor.
109,515
92,665
(38.29%)
(15.39%)
Transport & Travel
Transport & Travel
60 685
60,685
67 756
67,756
(24 87%)
(24.87%)
11 65%
11.65%
Prof. Services
62,915
92,737
(37.04%)
47.40%
Employee Related
64,815
79,161
(8.15%)
22.13%
Subsidiaries
86 417
86,417
101 282
101,282
(29 21%)
(29.21%)
17 20%
17.20%
768,730
827,276
(27.91%)
7.62%
Total G & A Expenses
26
Leveraging cash generator to accelerate high yield
ggrowth
Net Interest Income
530
Corporate
Building Future Growth Engine
(Consumer & Micro/Retail)
CM = Rp1,388 billion
Leveraging Our Cash
Generator
(Corporate & Treasury)
CM = Rp977 billion
% of Total
NII (Rp bn)
Alliance Strategy Focus
744
19.6%
28.0%
728
Commercial#
Treasury & Int'll
Treasury & Int
20.4%
Q1 '07
Q1
07
Q1 '09
975
25.7%
7.4%
193
192
5.1%
34.6%
897
Micro & Retail*
1,504
39.7%
9.6%
248
373
Consumer Finance
9.9%
Fee Income
% of Total
Fees (Rp bn)
Corporate
Commercial#
Strengthen Emerging Business
(Commercial Banking)
CM = Rp923 billion
Treasury & Int'l
Q1 '07
Q1 '09
36
127
7.0%
5.7%
10.9%
171
338
27.0%
322
50.9%
Micro & Retail*
Consumer Finance
8.4%
53
81
29.0%
548
51
72
# Including Small Business *Excluding Small Business
47 0%
47.0%
8.1%
6.2%
27
Leveraging cash generator to accelerate high yield
ggrowth and deposit franchise
p
Consumer Loans from Alliance Program
(10 top corporate clients)
Co‐Branding Prepaid Card Program
Rp Billion
1,389
1,259 1,275
1,128
897
791
486
319
532
391
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09
Corporate Card Holder from Alliance Program
(10 to corporate clients)
(10 to corporate clients)
3,625
Plantation Small & Micro Lending from Alliance
Program
418
350
1,616
1,620
1,796
1,869
2,007
234
259
416
Rp Billion
427
427
347
268
149
Q4'07
Q1 '08
Q2 '08
Q3'08
Q4'08
Q1 '09
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09
28
Enhancing synergies & values from subsidiaries
Syariah Banking
Investment Bank
Insurance
Niche Banking
Bank Sinar
Harapan Bali
Multi‐Finance
TUNAS FINANCE
Total Assets
Rp17 7 tn
Rp17.7 tn
Bond Trading Volume
Rp5 65 tn
Rp5.65 tn
Total Assets
Rp3.87 tn
Rp3 87 tn
Total Loans
Rp284 bn
Rp284 bn
Total Financing
Rp1 659 bn
Rp1,659 bn
Total Financing
Rp13.4 tn
Bond Underwriting
Rp225 bn
Annual FYP
Rp 105.8 bn
Net Interest Margin*
11.04%
Net Interest Margin
5.6%
Total Deposits
Total
Deposits
Rp15.5 tn
Equity Trading Volume
Equity
Trading Volume
Rp2.84 tn
Fee Contribution
Fee
Contribution
Rp19.56 bn
ROA
4.4%
ROA (Before Tax)
(Before Tax)
6.7%
ROE
19.4%
ROA
(0.6%)
ROE
43.5%
ROE
12.1%
ROE (After Tax)
43.6%
• 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
b
base
• Cross‐sell capital market
services to broad range of
Mandiri customers
• Refocus business toward
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
complete our suite of
consumer offerings
• Enhance operating model
• Improve risk
management systems
and IT
• Improve productivity
•Use Bank Mandiri’s
network infrastructure
th
throughout Indonesia to
h tI d
i t
develop multi‐finance
segment, especially in
vehicle‐ownership
financing.
* Excluding deposits made by
Bank Mandiri
29
Q1 2009 operating profit up 42.5% from Q1 2008
Q1 2008
Q1 2009
Rp billion
Rp billion
1,149
2,211
928
1,975
Up
42.5%
4 394
4,394
3,385
3,332
2,338
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
Notes :
1. Fee based income excluding gain on sale & increasing value GB & securities
2. Overhead expenses + others excluding provisions
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
30
Strong Revenue Growth
Q1 2008
Summary P&L
Q4 2008
Q1 2009
Q‐o‐Q
Y‐o‐Y
(%)
(%)
% of
Av.Assets*
Rp (Billions)
% of
Av.Assets*
Rp (Billions)
% of
Av.Assets
6,142
7.9%
8,331
9.8%
8,568
10.3%
2.8%
39.5%
(2,757)
(3.6%)
(4,055)
(4.8%)
(4,174)
(5.0%)
2.9%
51.4%
3,385
4.4%
4,276
5.1%
4,394
5.3%
2.8%
29.8%
927
1.2%
1,570
1.9%
1,149
1.4%
(26.8%)
23.9%
‐
0.0%
‐
0.0%
58
58
0.1%
‐
(308)
(0.4%)
(796)
(0.9%)
(1,375)
(1.7%)
72.7%
346.4%
((1,004)
,
)
((1.3%))
((1,197)
,
)
((1.4%))
((1,116)
,
)
((1.3%))
((6.8%))
11.2%
G & A Expenses
(769)
(1.0%)
(1,148)
(1.4%)
(827)
(1.0%)
(28.0%)
7.5%
Other Operating Expenses**
(253)
(0.3%)
(386)
(0.5%)
(268)
(0.3%)
(30.6%)
5.9%
Profit from Operations
Profit from Operations
1 979
1,979
2 6%
2.6%
2 361
2,361
2 8%
2.8%
2 015
2,015
2 4%
2.4%
(14 7%)
(14.7%)
1 8%
1.8%
Non Operating Income
27
0.0%
(7)
0.0%
58
0.1%
‐
Net Income Before Tax
2,006
2.6%
2,354
2.8%
2,073
2.5%
(11.9%)
3.3%
Net Income After Tax
1,389
1.8%
1,359
1.6%
1,400
1.7%
3.0%
0.8%
Interest Income
Interest Expense
Net Interest Income
Net Interest Income
Other Operating Income
Gain from Increase in Value &
Sale of Bonds
l f
d
Provisions, Net
Personnel Expenses
Rp (Billions)
* % of Average Assets on an annualized basis
** primarily premiums paid under the blanket guarantee scheme
n.a
114.8%
31
…supported by strong capital at 15.4%
Capital & RWA Movement
Profit After Tax & ROE
IDR bn
26.2%
26
2%
23.6%22.8%
21.5%
CAR
31.3%
18.1%17.9%
15.8%
23.4%
1,221
1
1,400
1
1,390
1,027
372
610 372
610
97 305
519 510
1,113
Total Capital (Rp tn)
744
1,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 Q1
Q1 '09
09
1,549
308
1,168
1,3
300
13.3 15.4 17.0 25.5 27.5 27.4 28.4 28.3 27.2 27.3
RWA (Rp tn)
690
602
72.5
42.6
58 1
58.1
1,234
91.9
1,32
29
967
1,040
645
1,0
017
134.0
15.7%
15 4%
15.4%
115.9 112.2
799
1,528
172.9
2.5%
1,345
177 5
177.5
21 1%
21.1%
108.9
819
10.0%
1,16
66
25.3%
25.3%
23.7%
775
1,40
08
Q4 PAT
Q4
PAT
Q3 PAT
Q2 PAT
Q1 PAT
1,390
27.7%
26.4%
R E AT
RoE ‐
(623)
2001 2002 2003 2004 2005 2006 2007 2008 2009
32
Operating
O
i
Performance
Performance
Highlights
g g
33
Corporate Banking:
Contribution Margin declines on rate increase
Contribution Margin (after PPAP)
Rp bn
Performance to Date: Q1 2009
Rp bn
81
2,906
139
Q1
Q2
Q3
Q4
772
104
3 Strengthen
3.
Strengthen our Syndication &
our Syndication &
Structured Finance team, as
well as our synergy with
Mandiri Sekuritas, to provide a
broader variety and more
broader variety and more
sophisticated product range,
and accelerate transactional
banking development in
Corporate Banking
Corporate Banking
522
1,077
537
401
547
592
(29.6%)
545
2007
741
2008
1. Refine organization to be more
i d t f
industry focused ,& strengthen
d & t
th
funding sales team to gain rapid
business growth
2. Strengthen Corporate Banking
Floor in Surabaya and Medan to
broaden and deepen our
geographic coverage
2,483
311
Strategies for 2009
522
2009
4. Broaden relationships to offer
products and services to our
corporate clients’ suppliers,
employees and customers,
l
d
t
through strategic alliance
program
34
Mandiri Sekuritas’ financial performance has
p
y
g
y
been impacted by the global economy crisis
Q1 ’08
Q1 ’09
Y‐o‐Y
(%)
107
66
(38%)
• Investment Banking
48
30
(37%)
• Capital Market
Capital Market
45
29
(36%)
• Treasury
2
0
(100%)
• Investment Mgt
12
8
(36%)
Operating Expenses
51
30
(42%)
Earnings After Tax
28
(5)
(117%)
Equity Transactions
15,146
2,838
(81%)
SUN Transactions
10,717
5,658
(47%)
Bonds Underwritten
Bonds Underwritten
2 083
2,083
225
(89%)
ROA
5.5%
(0.6%)
(111%)
ROE
13 4%
13.4%
(2 8%)
(2.8%)
(121%)
(Rp Bn)
Revenues
35
Treasury & International Banking
Performance to Date: Q1 2009
Strategies for 2009
Rp bn
66
366
37
492
455
1 Intensif
1.
Intensify cross‐selling of forex
cross selling of fore products
prod cts
and services to our corporate and large
commercial clients
2. Leverage our overseas network to
maintain our syndicated facilities and
trade financing to high quality
customers in selected sectors
192
NII
F
Fees
O h d Operating Profit
Overhead
O
ti P fit Provisions
P ii
P fit Aft PPAP
Profit After PPAP
Business Volume (Rp bn)
Rp bn
Loans
Deposits
3. Enhancing
Enhancing our regional distribution
our regional distribution
(RTM) in high growth, export‐oriented
regions in collaboration with Micro &
Retail Banking
4 SSeek opportunities to enhance the yield
4.
k
t iti t
h
th i ld
of our recent portfolio
5. Reinforce Bank Mandiri’s
competitiveness through new offices in
Malaysia and Shanghai
4,963
3
2008
4,406
6
4,885
5
2007
4,318
8
4,231
1
2006
2,823
3
3,007
7
913
3
2,512
2
1,011
1
2005
Q1 '09
36
Commercial Banking:
Strong revenues from both Liabilities & Assets
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: Q1 2009
Rp bn
Rp bn
Q1
Q
Q2
Q
Q3
Q
1. To widen asset margin especially
in Small Commercial Loan and
Medium Commercial Loan
Segment (Limit under Rp100
Billion)
Q4
Q
2,427
126
367
95
2,114
1,006
2. To increase sustainability of loan
portfolio by expanding “KMK”
fixed product.
84
923
617
608
564
630
31%
946
923
703
487
2007
2008
3 Financing
3.
Financing the subcontractors of
the subcontractors of
large corporates, particularly in
infrastructure, mining, and
telecom
4 To pitch alliance strategic
4.
T it h lli
t t i
partner targets from the 10
biggest corporate customers
and 17 biggest commercial
customers that have
t
th t h
significantly business impact.
5. To develop bundling products by
utilizing push product and
existing product range.
2009*
*) incl CM Small Rp.121 bn & BSM Rp. 63 bn
37
Commercial Banking : Stronger Platform & Improved
Distribution Capability
y
Expanding Scope of Distribution, 2009
Solid & Stable Source of
Low Cost Funds
R Tn
Rp
T **
Sumatera
Loans = Rp 5.8 Tn
Funds = Rp 5.0Tn
Java and Bali
Loans = Rp31.1 Tn
Funds = Rp23.9 Tn
Kalimantan
Loans = Rp2.9 Tn
Funds = Rp2.2 Tn
Eastern
Loans = Rp0.9 Tn
Funds = Rp1.8 Tn
Q1
2008
Q1
2009
Growth
Demand
Deposit
17 58
17.58
19 26
19.26
9 5%
9.5%
Rupiah
13.07
13.34
2.1%
FX
4.51
5.92
31.1%
Saving
Deposit*
1.18
1.54
30.3%
Total Low
Cost Fund
Cost Fund
18.77
20.79
10.8%
Total
Funding
27.94
32.90
17.7
Product
CBC = 19 Unit
Floor = 18 Unit
TSC = 11 Unit
TSD = 6 Unit
Low Cost Fund Ratio = 63.21%
Funding from Java & Bali =72.61%
of total fundingg
* Business Savings Product
** excl. SBG
38
Strong growth from our Syariah Banking
subsidiaryy
Financial Performance (Rp bn)
Financing
Net Interest Margin & Cost of Funds
Q4 ’06
Q4 ‘07
Q1 ‘08
Q4 ’08
Q1 ’09
7,415
10,305
11,150
13,251
13,429
Deposits
8,219
11,106
12,246
14,897
15,462
Assets
9,555
12,888
14,031
17,064
17,704
EAT
65.48
114.64
46.24
193.15
63.80
ROA
1.10%
1.54%
2.05%
1.82%
2.08%
ROE
10 23%
10.23%
15 94%
15.94%
22 64%
22.64%
20 98%
20.98%
19 41%
19.41%
Net NPF
4.64%
3.43%
2.63%
2.45%
2.15%
13.6%
13.5%
YoA
13.5%
13.0%
12.7%
12.4%
12.3% 12.2% 12.4%
Ratios:
Syariah Financing (Rp tn)
Financing
99.1%
FDR
CoF
6 2%
6.2%
5.7%
92.8%
91.1%
Q4 '08
Q1 '09
5
5.6%
Q3 '08
11.15
6..3%
13.43
6.4%
13.25
6.3%
10.31
13.77
7%
6.7
12.73
5
5.6%
86.9%
6.3%
89.1%
6.1%
89.2%
9.30
5.7%
91.1%
6.8
8%
90.2%
5.4% 5.3% 5.4% 5.4% 5.3% 5.3%
NIM
7.41
Q4 '06
Q3 '07
Q4 '07
Q1 '08
Q2 '08
2005 Q4 '06 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09
39
Micro & Retail Banking:
Rapidly growing our high margin business
Contribution Margin (after PPAP)
Performance to Date: Q1 2009
Rp bn
Strategies for 2009
Rp bn
Q4
548
4,594
1. Leverage our strength in
Corporate and large
Commercial customers to
quickly build high margin
i kl b ild hi h
i
business
Q3
Q2
894
1,257
,
Q1
1,365
2. Continue to improve our
payment infrastructure
ti f t t
1,159
1,416
32
1,126
3. Expand our distribution with
a focus on high margin
b i
business
2,204
318
572
1,045
740
740
574
139
2007
* Includes Deposit Insurance
4. Improve our sales culture and
productivity of existing
network
t
k
28 5%
28.5%
876
2008
1,126
5. Cross sell to grow our fee
based income business
2009
40
Consumer Finance:
Significant growth in spread and fee income
Contribution Margin (after PPAP)
Performance to Date, Q1 2009
Rp bn
Rp bn
72
Q1
Q2
Q3
Q4
831
113
373
639
986
69
324
158
831
412
79
133
161
100
200
170
51%
90
262
NII
Fees
Overhead
Operating
Profit
Provisions
Profit After
PPAP
143
150
174
2006
2007
2008
2009
41
S
Supporting Materials
i M
i l
42
Key Quarterly Balance Sheet Items & Financial
Ratios
IDR billion / %
Q1 ‘08
FY ‘08
Q1 ‘09
Gross Loans
135,511
174,498
176,878
30.53%
88 588
88,588
88 259
88,259
88 375
88,375
(0 24%)
(0.24%)
Total Assets
299,585
358,439
347,626
16.04%
Customer Deposits
223,918
289,112
272,048
21.49%
T lE i
Total Equity
30 569
30,569
30 514
30,514
31 942
31,942
4.49%
%
RoA ‐ before tax (p.a.)
2.59%
2.52%
2.35%
RoE – after tax (p.a.)
18.59%
18.06%
17.93%
Cost to Income(1)
41.37%
42.26%
35.05%
5.03%
5.45%
5.47%
59.18%
59.16%
63.84%
5.14%
4.73%
5.85%
116.02%
127.14%
116.56%
Tier 1 CAR(2)
18.76%
12.83%
13.78%
Total CAR(2)
22.42%
15.83%
15.37%
Total CAR incl. Market Risk
22.14%
15.77%
15.30%
66.2
254.5
66.99
1.21%
1,456
1,462
1,528
4.95%
Government Bonds
Government Bonds
NIM (p.a.)
LDR
Gross NPL / Total Loans
Provisions / NPLs
( p)
EPS (Rp)
Book Value/Share (Rp)
(1) (G&A and employee expenses) / (Net Interest Income + Other Operating Income), excluding bond
gains
(2) Bank only – Not including Market Risk
Y‐o‐Y (%)
43
44
5
138.5
1
108.8
55.1
1
107.8
57.6
105.1
1
106.9
64.5
34.1%
60.6%
75.9
19.0% 19.0%
65.4
36.1
75.4% 74.1%
41.0%
94.4
60.7
50.6
40.6%
Int. from Bonds
54.0
47.1%
11
17.7
59.2
40.9%
114.3
46.9%
56.1
50.1%
16.3
11
50.0%
Int. from Loans
59.2
34.8%
121.7
6
61.2
60.5 48.3
4
33.4 43.0
0
60
90
120
150
180
210
240
270
300
330
360
0
27.0 44.0
Q3
3 '08
88.4
Q2
2 '08
88.6
Q1
1 '08
89.5
Q4
4 '07
90.8
Q3
3 '07
89.5
Q2
2 '07
90.6
Q1
1 '07
90.6
Q4
4 '06
91.0
Q3
3 '06
92.3
Q2
2 '06
92.2
Q1
1 '06
92.1
Q4
4 '05
93.1
Q4
4 '04
122.9
Q4
4 '03
148.8
Q4
4 '02
153.5
Q4
4 '01
176.9
Q4
4 '00
177.4
Q4
4 '99
Consolidated
91.1
88.5
Other Assets
135.5
5
Q4
4 '08
Loans
75.5
88.3
Government Bonds
149.6
52.2%
66.7
56.8%
162.8
67.4
Q1
1 '09
0
174.5
88.4
30
95.7
31.0% 32.3% 32.4% 29.3% 29.3%
58.8% 59.1% 57.2%
176.9
Total Assets (Rp tn)
Total Assets fell 3.0% to Rp347.6 tn in Q1 ‘09
2.4
82
Additional Factors
Written‐off
Loans
Loan Collateral
Undervalued
Aggregate of Rp35.766 tn (US$ 3.095 bn) in written‐off loans as of end‐
March 2009, with significant recoveries on‐going:
g
g g
2001:
Rp2.0 tn
2002:
Rp1.1 tn
2003:
2003:
Rp1.2 tn
Rp1.2 tn
2004:
Rp1.08 tn
2005:
Rp0.818 tn (US$ 83.2 mn)
2006:
2006:
Rp3 408 tn (US$ 378.5 mn)
Rp3.408 tn
(US$ 378 5 mn)*
2007:
Rp1.531 tn (US$ 249.3 mn)
2008:
Rp2.309 tn (US$ 211.8 mn)
Q1 ’09:
Q1 ’09
R 0 345 t (US$ 29.9 mn)
Rp0.345 tn
(US$ 29 9
)
* including the write‐back of RGM loans totaling Rp2.336 tn
Collateral values included for provisioning purposes on only 19 accounts,
carried at approximately 30.2% of appraised value.
carried at approximately 30.2% of appraised value.
45
Summary Quarterly Balance Sheet: Q1 ‘08 –‘09
Q1 ‘08
Q2 ‘08
Q3 ‘08
Q4 ‘08
Rp (tn)
Rp (tn)
Rp (tn)
Rp (tn)
Rp (tn)
US$ (bn)#
%
299.59
4.87
23.07
14.24
2 04
2.04
304.68
5.20
22.84
1.92
4 55
4.55
318.67
8.28
21.86
0.28
11 07
11.07
358.44
8.37
347.63
6.07
31.02
0.72
16.0%
24.8%
13.35
21.30
13 65
13.65
12.92
16.05
3 01
3.01
1.16
1.84
1 18
1.18
(44.0%)
12.7%
47 7%
47.7%
12.45
12.80
6.96
21.60
27.49
1.87
120.9%
4.10
88.59
0.62
26.77
61.20
135 51
135.51
127.60
7.92
4.05
88.39
0.51
26.68
61.20
149 61
149.61
141.80
7.81
3.88
88.52
0.42
26.65
61.45
162 79
162.79
154.84
7.95
3.32
3.89
88.26
88.27
0.44
0.01
0.29
7.64
0.04
(5.0%)
(0.4%)
(98.1%)
26.24
61.97
174 50
174.50
26.22
62.03
176 88
176.88
2.27
5.36
15 10
15.10
(2.0%)
1.4%
30 5%
30.5%
165.17
9.33
165.51
11.37
14.29
0.81
29.7%
43.6%
Allowances
Loans – Net
(9.18)
126.33
(9.57)
140.04
(11.04)
151.75
(11.86)
162.64
(13.25)
163.63
Total Deposits – Non‐Bank
Demand Deposits
223.92
50.34
236.21
57.93
245.33
56.62
289.11
69.09
272.05
64.75
(1.03)
14.08
25.02
5.98
44.3%
29.5%
21.5%
28.6%
85.85
93.32
87.14
94.95
91.00
8.22
6.0%
87.73
30.57
84.97
27.71
101.57
29.05
125.07
30.51
116.30
31.94
10.82
2.64
32.6%
4.5%
Total Assets
Cash
Current Accounts w/BI
Certificates of BI
Other Placements w/BI
Other Placements w/BI
Current Accounts & Placements
w/Other Banks
Securities ‐ Net
Government Bonds
Trading
AFS
HTM
Loans
Performing Loans
Non‐Performing Loans
Savings Deposits
Certificate & Time Deposits
Shareholders’ Equity
Q1 ‘09
Y‐o‐Y
# USD1 = Rp11,555
46
Reconciliation to IFRS
Net profit under Indonesian GAAP
FY ’03
FY ’04
FY ’05
FY ’06
FY ’07
FY ’08
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
Rp (Billions)
4,586
5,256
603
2,421
4,346
5,312
(662)
(309)
(309)
(2 681)
(2,681)
1 598
1,598
1 934
1,934
2 474
2,474
104
70
(223)
44
(2)
(114)
52
52
(21)
‐
25
‐
‐
‐
‐
‐
‐
‐
‐
IFRS Adjustments
Allow for possible losses on earning assets
Allow. for possible losses on earning assets
Allow. for possible losses on commitments &
contingencies
Change in fair value of derivatives
Change in fair value of derivatives
Employee benefits
Accretion on deferred inc. arising from loan
purchase from IBRA
p
55
10
9
4
(17)
‐
De‐recognition of revaluation of premises &
equipment
199
75
25
30
26
21
Net Adjustment
Net Adjustment
‐
‐
82
(191)
‐
‐
38
(90)
‐
‐
861
(2,008)
(137)
‐
(503)
1,037
(7)
‐
(583)
1,351
(7)
‐
(659)
1,715
Net profit in accordance with IFRS
4,395
5,166
(1,405)
3,458
5,697
7,021
Rights of Lands amortization
De‐recognition of allowances
Deferred income taxes
IFRS = International Financial Reporting Standards
47
Limited Impact on Government Recap Bonds
Bonds by Rate Type & Portfolio as of Mar 2009 (Rp bn)
Recap Bond Portfolio by Type and Maturity (Rp88,375 bn)
Maturity/
y/
Rp bn
Trading Portfolio
Nominal
MTM
Available for Sale
Nominal
MTM
70
Held to
Maturity
Variable Rate
40
< 1 year
10 year
> 10 year
89
89
71
71
134
134
0
121
557
536
2,288
129
10 year
‐
‐
10,942
10,926
23,509
Sub Total
‐
‐
25,839
25,685
129
121
26,396
26,221
0 56
0.56
59 745
59.745
25.839
0.13
Trading*
AFS#
HTM^
* Mark to Market impacts Profit
# Mark to Market