2015Q4 Analysts Meeting a

(1)

PT Bank Mandiri (Persero) Tbk

FY 2015

Results Presentation

(2)

Share Information

∆ fro : IPO Dec 31, 2014

BMRI 1,236.60% -17.63%

JCI 761.97% -13.47%

-200% 0% 200% 400% 600% 800% 1000% 1200% 1400% 1600% 1800%

-03

-04

-05

-06

-07

-08

-09

-10

-11

-12

-13

-14

-15

BMRI JCI

No. of

Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.00% 14,000,000,000 60.00%

2. Retail 17,977 82.00% 263,459,960 1.13%

3. Employees 1,816 8.28% 22,727,018 0.10% 4. Cooperatives 8 0.04% 1,426,656 0.01% 5. Foundation 29 0.13% 21,268,745 0.09% 6. Pension Funds 195 0.89% 183,054,830 0.78% 7. Insurance 91 0.42% 433,192,751 1.86% 8. Banks - 0.00% - 0.00% 9. Corporations 134 0.61% 628,711,398 2.69% 10. Mutual Funds 231 1.05% 698,731,242 2.99%

Total 20,482 93.42% 16,252,572,600 69.65%

II INTERNATIONAL

1. Retail 98 0.45% 1,053,749 0.00% 2. Institutional 1,344 6.13% 7,079,706,984 30.34%

Total 1,442 6.58% 7,080,760,733 30.35% 21,924

100.00% 23,333,333,333 100.00%

No. Description

By 31 December 2015

(3)

2

Results Overview Page #



I do esia s Eco o ic Co ditio 3



FY 2015 Highlights 4



Key Indicators + Financial Highlights 5 –6



SBU Performance Highlights 7



Ba k s Pe fo a ce 8 –11



Loan Performance 12 –14



ROE & NIM 15 –16



Fee-Based & CIR 17 –18



Wholesale Business 19 –21



Retail Business 22 –28



NPL Movement 29 –32



Subsidiaries 33 –34



Targets & Initiatives 35

Additional Information

Operating Performance Highlights Supporting Materials

(4)

Core inflation remains stable and

headline inflation expected to drop

Inflation And Current Account Deficit Appear Manageable

The Current Account Deficit is

improving through 4Q15

3 GDP expansion remains below the

historical average and under pressure

0 2 4 6 8 10 12 14 16 18 20 D e c-0 6 D e c-0 7 D e c-0 8 D e c-0 9 D e c-1 0 D e c-1 1 D e c-1 2 D e c-1 3 D e c-1 4 D e c-1 5

Headline inflation (% YoY) Core inflation (% YoY) BI rate (%)

(10) (5) -5 10 15 (15) (10) (5) -5 10 15 20 1 Q 1 0 2 Q 1 0 3 Q 1 0 4 Q 1 0 1 Q 1 1 2 Q 1 1 3 Q 1 1 4 Q 1 1 1 Q 1 2 2 Q 1 2 3 Q 1 2 4 Q 1 2 1 Q 1 3 2 Q 1 3 3 Q 1 3 4 Q 1 3 1 Q 1 4 2 Q 1 4 3 Q 1 4 4 Q 1 4 1 Q 1 5 2 Q 1 5 3 Q 1 5

Capital and Financial Account Current Account (CA)

BoP 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 1 Q 0 6 4 Q 0 6 3 Q 0 7 2 Q 0 8 1 Q 0 9 4 Q 0 9 3 Q 1 0 2 Q 1 1 1 Q 1 2 4 Q 1 2 3 Q 1 3 2 Q 1 4 1 Q 1 5 4 Q 1 5 5.04 7.50 3.35 3.95 5.82

(5)

Cash Management

• 15,101 Customers

• 61.6 Mn Trx in

2015

(2)

4 Bank Mandiri Remains on Track to B

eco e I do esia s Most

Admired Financial Institution

Retail Loans

(1)

• Rp 175.2 Tn

• 32.7% of Loans

• High yield loan

amounting Rp 114.8 Tn

Subsidiary Income

• Total Rp 2.07 Tn

• Sum of income from

11 subsidiaries

(10.2 % of EAT)

Alliances

• Bank Guarantee: Rp 34.7 Tn

• Foreign Exchange: Rp 16.4 Tn

• Fund Under Management

(FUM): Rp 3.6 Tn

e-Channel Tx

• 2.1 Bn Trx

• 16.6% YoY Growth

# of Cards Issued

• Credit

3.97 Mn

• Debit 13.25 Mn

• Prepaid 6.66 Mn

(1) Small Business, Micro and Consumers

(2) Excluding Mandiri Transaction System

(3) Incl. KSM Centre, MMU Cash outlet and MobilMU

# of Accounts

• Deposit 16.92 Mn

• Loan 1.62 Mn

including mortgage

accounts of 162,673

# of new Accounts (YTD)

• Deposit 4.14 Mn

• Loan 609,336

# of Outlets

2,457 Branches

3,100 Micro Outlets

(3)

(6)

5 K

e

y

In

d

ic

a

to

rs

R

e

m

ai

n

S

tab

le

22.10% 24.40% 22.00% 22.55% 22.23% 20.95% 18.33%

2009 2010 2011 2012 2013 2014 2015

R

e

tu

rn

o

n

E

q

u

it

y

(%

)

To

tal

C

A

SA

(

R

p

B

n

)

N

o

n

P

e

rf

o

rm

in

g

L

o

an

(

%

)

186,492 201,958 256,395 316,127 359,957 380,512 443,874

2009 2010 2011 2012 2013 2014 2015 2.79%

2.42% 2.21% 1.87% 1.90% 2.15% 2.60%

2009 2010 2011 2012 2013 2014 2015

7,155 9,218 12,246 15,504 18,204 19,872 20,335

2009 2010 2011 2012 2013 2014 2015

E

ar

n

in

g

A

ft

e

r

Ta

x

(R

p

B

n

)

198,547 246,201 314,381 388,830 472,435 529,973 595,457

2009 2010 2011 2012 2013 2014 2015

To

tal

L

o

an

s

(R

p

B

n

)

N

e

t

In

te

re

st

Mar

g

in

(

%

)

5.04% 5.28% 5.11% 5.46% 5.74% 5.97% 6.08%

2009 2010 2011 2012 2013 2014 2015

(7)

6 Key Financial Highlights

Ba k Ma di i s FY 2015 performance across several key indicators:

FY



%

Loans

Rp 529.97Tn

Rp 595.46Tn

12.4%

Gross NPL Ratio

Net NPL Ratio

2.15%

0.81%

2.60%

0.90%

21.1%

11.5%

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

59.8%

Rp 380.5Tn

65.6%

Rp 443.9 Tn

9.8%

16.7%

NIM

5.97%

6.08%

1.7%

Efficiency Ratio

44.9%

43.0%

(4.3%)

(8)

Balanced Earnings from All Business Units

768

1,057 1,154

847

1,853

152

893

409

2,350

1,426

Treasury and Markets

Corporate Banking

Commercial Banking

Consumer Banking

Micro and Business

Banking

Asset Spread Liability Spread

Net Interest Income Analysis 4Q 2015

(Rp Bn)

Net Interest Income

Fee Based Income 4Q 2015

(Rp Bn)

529

1,336 191

440

1,050

Micro and Business Banking Consumer Banking Commercial Banking Corporate Banking Treasury and Markets

Notes : Due to reorganization of Bank Mandiri, we cannot provide the historical data from the previous years

920

3,197

1,950

1,563

(9)

Deposits by Product

–

Consolidated

(Rp Tn)

Loans by SBU + Subsidiaries

(Rp Tn)

9 7 .1 1 0 2 .9 1 0 8 .8 1 2 1 .9 1 1 9 .8 1 2 6 .5 1 3 5 .4 1 5 1 .8 1 5 0 .4 1 5 9 .9 1 6 6 .2 1 8 6 .9 1 7 9 .9 1 8 9 .8 1 9 8 .8 2 1 4 .7 2 0 1 .9 2 0 3 .0 2 0 8 .0 2 2 7 .7 2 0 7 .3 2 1 1 .0 2 1 8 .1 2 4 3 .7 9.910.811.6 11.612.312.712.2 12.013.413.614.0 15.315.816.819.0 20.7 22.123.222.3 24.7 23.325.429.4 28.0 4 7 .8 5 0 .3 3 9 .9 4 6

.2 45.3

4 7 .9 4 9 .4 6 7 .3 7 5 .0 5 9 .0 6 3 .0 7 7

.9 61

.2 7 4 .6 6 3 .9 7 3

.4 67

.2 7 4 .2 7 9 .6 7 8

.9 8₃

.4 9 1 .7 9 0 .7 1 0 1 .2 22.023.122.9 22.225.422.324.0 25.328.228.028.5 36.1 33.3 38.549.2 51.1 43.545.0 52.0 49.1 58.1 75.877.6 70.9 1 2 4 .4 1 2 7 .8 1 2 7 .0 1 4 7 .8 1 4 3 .5 1 4 0 .8 1 4 0 .0 1 4 8 .1 1 2 0 .8 1 3 7 .5 1 3 8 .9 1 5 0

.7 1₅

2 .8 1 5 3 .7 1 5 5 .2 1 7 6

.2 1₇

6 .9 1 9 0 .0 2 0 1 .6 2 2 2 .3 2 2 6 .2 2 2 0 .5 2 1 2 .1 2 0 6 .3 11.811.711.1 12.510.312.415.3 17.8 15.620.3 20.4 16.1 24.0 29.028.2 20.1 20.0 20.5 27.5 33.730.5 30.526.6 26.2 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500 520 540 560 580 600 620 640 660 680 1 Q '1 0 2 Q '1 0 3 Q '1 0 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

FX Time Rp Time

FX Demand Rp Demand

FX Savings Rp Savings

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

0.2 0.41.3 1.4 1.6

1.5 1.71.4 1.3

1.5 1.6 1.8 1.6

1.51.72.0 2.3 1.3

1.3 1.3 0.8 1.00.9 1.4 4 9 .1 5 3 .1 5 7 .5 6 3 .8 6 4 .7 7 0 .1 7 4 .7 8 0 .7 8 2 .5 8 9 .8 9 3 .3 1 0 2 .7 1 0 2 .0 1 0 4 .2 1 1 1 .0 1 1 6 .9 1 1 6 .3 1 2 3 .7 1 2 7 .7 1 4 2 .8 1 4 5 .1 1 4 8 .9 1 4 9 .4 1 6 0 .6 24.726.7 28.630.732.4 34.336.3 39.040.7 43.344.5 47.749.3 52.455.2 56.6 57.4 60.3

62.4_64.765.767.7

69.572.3 17.719.3 20.522.723.3 25.8 27.630.2 30.9 33.135.0 38.438.4 42.5 43.7 46.5 46.3 49.0 52.0 56.055.357.9 57.9 60.5 5.66.0

6.57.3 7.7 8.5 9.511.8 13.1 15.116.8 19.0 20.7 23.9 24.927.0 28.231.0 32.734.6 37.239.7 40.0 42.5 9.79.1

8.67.8 6.7 6.1 6.14.6 4.8 4.84.9 4.0 3.9 3.9 4.2

4.2 3.93.9 3.8 3.7 3.8 3.84.1 2.2 20.422.7 24.627.230.3 34.2 38.4 40.540.9 43.646.0 48.9 50.9 53.5 54.9 55.555.355.5 54.6 54.7 54.357.0 57.9 59.4 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500 520 540 560 580 600 1 Q '1 0 2 Q '1 0 3 Q '1 0 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 Subsidiaries Recovery

Micro Small

Cons Comm

Int'l Corp

Maintaining Momentum for Growth

Y-o-Y  (22.4%) (7.2%) 44.6% 28.4% 7.0% Y-o-Y  (41.4%) 7.9% 12.5% 14.2%

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

6.9%* 13.3% 12.4% 595.5 Tn Total Total 636.4 Tn

676.3 Tn 6.3%

8.6%

8

530.0 Tn

11.7% 22.9%

(10)

9 3 Key Areas of Focus for 2020

1) Fee-Based Provision, Commission & Fee

Deepen Client

Relationship

Accelerate Growth

_Segment

Wholesale Strategy

Group-wide Strategy

Retail Strategy

Integrate The Group

Integrated Wholesale Transaction Bank

Holistic Product Suite

Sector-Led Solutions

Through Expertise-led Client Solutions

Cross-Border Coverage

Supporting Clients’ Regional Needs

Current Achievments (FY 2015)

 Total Wholesales Fees Rp 2.6 Tn1)

 Total Wholesale Low Cost Deposits Rp 140.3 Tn.

 Growth of Cash Management Transaction 21.1.7%2).

Culture of Cross-Selling across Wholesale, Retail and Subsidiaries

Engaging in Integrated Retail Initiatives with Subsidiaries and Business Units to

Drive Cross-Selling

Current Achievments (FY 2015)

Micro

Easy Access & Simple Products

SME

One-Stop Sales & Service

Individual

Growing with our Customers

Current Achievements (FY 2015)

 Total Retail Fees of Rp7.0 Tn 1)

 Total Retail Low-Cost Funds Rp 272.4 Tn  YoY increase in E-Channel transaction : 16.6%  Mandiri Business Savingreaches Rp 108.5 Tn

V

 Volume of Business Alliances : Bank Guarantee : Rp 34.7Tn.

Foreign Exchange : Rp 16.4Tn.

FUM : Rp 3.6 Tn

 Income Alliance Wholesale = 49.2%  Auto & 2 W Loan : 325 Bn

(11)

Strong and Liquid Balance Sheet

10 Assets

4Q 2015

4Q 2014

Liabilities

4Q 2015

4Q 2014

Cash

25,109

20,705 Current Account

172,166

128,067

Current Acc w/ BI & Other Banks

66,470

59,586 Savings

271,708

252,445

Placement w/ BI & Other banks

37,388

61,213 Time Deposits

232,514

255,870

Advances (Other)

26,945

26,423

Marketable Securities

43,951

40,767

Total Deposits

676,387

636,382

Government Bonds

103,869

86,154

Loans (Gross)

595,458

529,974 Securities Issued

2,398

2,010

Provisions of Loans

(22,558)

(17,919) Deposits from other banks

12,954

17,774

Net Loans

572,899

512,055 Borrowings

33,765

24,227

Reverse Repo

677 19,787 Other Int. Bearing Liabilities

12,787

14,427

Other Provisions

(2,224)

(2,139) Non Int. Bearing Liabilities

52,281

55,375

Deferred Tax Assets

4,835

4,189 Equity incl. Minority Interest

119,492

104,845

Other Assets

30,145

26,301

(12)

Strong Revenue Growth

Summary P&L (Rp Bn) 4Q 2015 3Q 2015 4Q 2014 FY 2015 FY 2014 FY Y-o-Y

(%)

4Q Y-o-Y (%)

Q-o-Q (%)

Interest Income 18,933 18,066 17,363 71,570 62,638 14.3% 9.0% 4.8%

Interest Expense 6,022 6,814 6,536 26,207 23,506 11.5% (7.9%) (11.6%)

Net Interest Income 12,911 11,252 10,827 45,363 39,132 15.9% 19.3% 14.7%

Net Premium Income 696 886 697 3,137 2,681 17.0% (0.1%) (21.4%)

Net Interest Income & Premium Income 13,607 12,138 11,524 48,500 41,813 16.0% 18.1% 12.1%

Other Non Interest Income

* Other Fees and Commissions 2,443 2,546 2,534 10,015 9,132 9.7% (3.6%) (4.0%)

* Foreign Exchange Gains - Net 844 533 399 2,238 1,588 41.0% 111.2% 58.1%

* Gain fr. sale & Incr. in Val & Sale of Bonds 178 (134) 111 257 381 (32.5%) 60.3% N/A

* Others 2,015 2,182 1,132 6,126 3,968 54.4% 78.0% (7.7%)

Total Non Interest Income 5,479 5,127 4,176 18,636 15,069 23.7% 31.2% 6.9%

Total Operating Income 19,086 17,265 15,700 67,136 56,882 18.0% 21.6% 10.5%

Provisions, Net (3,552) (4,495) (1,779) (12,043) (5,529) 117.8% 99.7% (21.0%)

Personnel Expenses (3,444) (2,903) (2,807) (12,377) (10,848) 14.1% 22.7% 18.6%

G&A Expenses (3,730) (3,322) (3,488) (12,800) (11,448) 11.8% 6.9% 12.3%

Loss from decr. in value of Sec & Gov Bonds - - -

-Other Expenses (906) (744) (620) (3,578) (3,078) 16.2% 46.1% 21.6%

Total Expense (8,080) (6,970) (6,914) (28,755) (25,374) 13.3% 16.9% 15.9%

Profit from Operations 7,455 5,800 7,007 26,339 25,978 1.4% 6.4% 28.5%

Non Operating Income 23 5 10 30 30 1.8% 145.2% N/A

Net Income Before Tax 7,478 5,805 7,016 26,369 26,008 1.4% 6.6% 28.8%

(13)

LDR Increased to 87.7%, Bank-Only Loan Growth of 12.8%

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

.6 64

.5 70

.7 ₇5.3 ₈1.1 82

.9 ₉0.1 93

.6 1 0 3 .0 1 0 2

.3 10

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

.5 ₁60

.7 17.4 22.8 24.5 25.927.7 30.330.9 33.235.1 38.5_38.5 42.5 44.1 46.5 46.349.0 52.0 56.1 55.3 57.9 57.9 60.5 5.4 7.3 7.7 8.5 9.5 11.813.1 15.116.8 19.020.7 23.9 24.927.028.231.0 32.7 34.537.239.740.0 42.5 2 3 .6 3 0 .7 3 2

.4 34

.3 36

.3 39

.0 ₄0.7 4

.3 ₄4.5 4

7 .7 4 9 .3 5 2

.4 55

.2 56

.4 60

.3 62

.4 64

.7 67

.7 6 9 .5 7 2 .3 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  11.7% 23.0% 7.8% 12.4% 13.1% 12.8% Total 13.5% 7.9% 11.3% 30.0% 37.3% Break down

As of December 2015; Non-consolidated numbers

12

1 9 8 .5 2 4 6 .2 2 5 1 .8 2 7 6 .7 2 9 7 .5 3 1 4 .4 3 2 7 .2 3 5 0 .4 3 6 5 .2 3 8 8 .8 3 9 1 .6 4 2 8 .7 4 5 0 .8 4 7 2 .4 4 7 0 .4 4 8 5 .8 5 0 6 .5 5 3 0 .0 5 3 2 .8 5 5 2 .8 5 6 0 .6 5 9 5 .5 61.4% 67.6% 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 80.1% 83.5% 85.0% 87.3% 84.5% 88.0% 85.3% 82.9% 84.4% 84.1% 85.3% 87.7% 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

Loans (Rp Tn) LDR (%)

5.5% 6.2% 2.3%

9.9%

7.5% 5.7% 4.1%7.1% 4.2% 6.5% 0.7% 9.5% 5.1% 4.8% -0.4% 3.3% 4.2% 4.6% 0.5% 3.7% 1.4% 6.2% 13.8% 24.0% 24.7% 26.9%28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7% 22.3% 23.4% 21.5% 20.1% 13.3% 12.4% 12.2% 13.8% 10.7% 12.4% 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(14)

3 5 .6 4 3 1 .1 5 2 9 .1 9 2 9 .7 5 3 0 .6 2 3 3 .9 6 3 5 .6 8 3 8 .8 6 3 8 .6 0 4 1 .8 7 4 4 .4 4 4 0 .3 5 4 1 .8 8 4 5 .4 7 4 5 .7 3 4 9 .6 2 4 8 .1 7 5 3 .2 9 5 9 .7 9 6 7 .7 5 6 2 .2 2 6 2 .9 5 7 2 .2 4 7 5 .3 8 7 3 .5 2 7 6 .9 0 7 8 .5 2 8 7 .7 9 78.3% 68.5% 61.9% 68.2% 71.7% 76.3% 80.7% 86.6% 82.9% 91.5% 89.0% 75.8% 76.0% 76.2% 75.4% 76.4% 68.0% 65.1% 64.3% 69.0% 72.0% 71.3% 74.2% 73.2% 66.8% 61.1% 61.0% 73.1% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% M ar 0 9 Ju n e 0 9 S e p 0 9 D e c 0 9 M ar 1 0 Ju n e 1 0 S e p 1 0 D e c 1 0 M ar 1 1 Ju n e 1 1 S e p 1 1 D e c 1 1 M ar 1 2 Ju n 1 2 S e p 1 2 D e c 1 2 M ar 1 3 Ju n 1 3 S e p 1 3 D e c 1 3 M ar 1 4 Ju n e 1 4 S e p 1 4 D e c 1 4 M ar 1 5 Ju n 1 5 S e p 1 5 D e c 1 5 20 30 40 50 60 70 80 90

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Bn

Rp Tn

Breakdown of FX lending (Bank-Only)

Q

(Total USD 6.37 Bn)

0.04 0.05 0.07 0.21 0.38 0.58 0.62 0.71 0.73 1.19 1.79

Utilities

Soc Serv

Constr

Bus Serv

Trans

Mining

Agri

Oth

Trading

Oil & Gas

Mfg



% (YoY)

18% -11% 34% 6% 62% -11% -3% -36% -27% 832% -78%

FX Loans & LDR (Bank-Only)

(15)

14 Rp 105.75 Tn in Loans Disbursed in 4Q 2015

502.78

105.75

24.34

31.94 9.98 _4.67

1.57

536.03

3Q'15 Disburs. Install. Payment Pay-off FX Impact

Write-Offs

4Q '15

Loan Movement

–

4Q 2015 Bank-Only

Rp Tn

Loan Disbursement by Segment

–

4Q 2015 Bank-Only

Rp Tn

51.96

30.22

9.59

7.82

6.15

105.75

(16)

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

.9 10

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

RWA (Rp Tn) Total Capital (Rp Tn)

Rp Bn

18.3% ROE, Supported By a Strong Capital Position

Bank Only - Capital & RWA Movement

Profit After Tax & ROE

21.5% 26.2% 23.6% 22.8% 2.5% 10.0% 15.8% 18.1% 22.1% 24.2% 22.0% 22.6% 22.2% 21.0% 18.3%

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

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

*1.1Tn from GIAA Recovery

308 1,168 1,549 1,744

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

2,681 3,403 4,303

4,925 5,138

1,300 602

690 1,329

97 305

1,113 1,221 1,526 2,031 2,543 3,744 3,991 4,660 4,786 967 1,017 1,528 1,408

610 372 1,040

1,345 1,693 2,352 2,850 3,972 4,509 4,869 4,658 645 799 819 775 -623 1,234 1,166 1,390 2,536 2,833 3,073 4,385 5,401 5,418 5,753 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 Q4 PAT Q3 PAT Q2 PAT Q1 PAT 31.3% 26.4% 23.4% 27.7% 25.3% 23.2% 24.6% 20.8% 15.7% 15.4% 13.4% 15.3% 15.5% 14.9% 16.6% 18.3% CAR 1,099*

(17)

5 .3 % 5 .8 % 5 .1 % 5 .4 % 5 .2 % 5 .4 % 5 .2 % 5 .5 % 5 .8 % 5 .7 % 5 .5 % 5 .3 % 5 .7 % 6 .1 % 5 .9 % 5 .9 % 5 .8 % 5 .9 % 5 .4 % 5 .8 % 5 .7 % 6 .7 % 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 * 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 NIM 9.4% 9.6% 8.7% 9.0% 8.7% 8.7% 8.2% 8.1% 8.4% 8.2% 8.1% 7.8% 8.3% 9.0% 9.1% 9.2% 9.6% 9.56% 9.08% 9.19% 9.21% 9.80% 4.3% 3.8% 3.8% 3.8% 3.7% 3.4% 3.2% 2.8% 2.7% 2.7% 2.8% 2.6% 2.8% 3.1% 3.3% 3.5% 3.9% 3.82% 3.88% 3.58% 3.66% 3.26% Yield on Assets

Cost of Funds

16 Q4 NIM of 6.7% as Yield on Assets Increases

6.4% 7.2% 5.1% 4.9% 4.7% 5.3% 4.8% 5.4% 5.0% 4.9% 4.8% 4.5% 4.5% 5.1% 4.4% 4.5% 4.5% 6.6% 4.2% 4.3% 4.4% 6.4% 1.5% 0.7% 0.5% 0.3% 0.5% 0.6% 0.6% 0.6% 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 0.8% 0.7% 0.7% 0.9% 1.1% 0.8% 0.7% 0.7% 0% 5% 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 13.2% 12.2% 13.1% 12.7% 12.5% 11.6% 12.1% 11.9% 12.5% 11.2% 10.8% 11.1% 11.8% 11.8% 12.0% 12.4% 12.1% 12.2% 12.2% 12.1% 6.7% 6.5% 6.5% 5.9% 4.9%

4.1% 3.9%_3.3%4.0%

3.4%3.9% 4.7% 5.3% 5.4% 5.9% 5.7% 6.0% 6.4% 6.4% 6.7% 6.9% 4.7%

4.2% _4.3% _3.9% 3.7%

3.0% 3.1%

3.3% 3.9% 4.1% 4.4% 4.5% 4.3% 3.8% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

* Starting on 4Q2014, we backout the LPS premium from the interest expense

(18)

Greater Detail On Fee-Based Income

Non-Loan Related Fees & Commissions

4Q

3Q

4Q

FY

FY Y-o-Y 4Q Y-o-Y

Q-o-Q

2015

2014

2015

2014

(%)

Administration Fees

840

805

707 3,087

2,704

14.2%

18.8%

4.4%

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

308

272

258 1,111

931 19.3%

19.7%

13.5%

Subsidiaries

(9)

292

339 1,031

1,481

(30.4%) (102.6%) (103.0%)

Transfer, Retail Transaction

599

480

543 1,992

1,626

22.5%

10.3%

24.9%

Credit Cards

382

386

410 1,547

1,427

8.4%

(6.9%)

(1.0%)

Mutual Fund, ORI & Bancassurance

109

85

94

388

353 10.2%

16.8%

28.4%

Syndications

80

34

52

214

137 56.1%

54.5%

135.0%

Payroll Package

20

21

18

77

74 3.8%

9.6%

(5.5%)

Others

113

171

113

567

398 42.4%

0.0%

(33.7%)

Total

2,443

2,546

2,534 10,015

9,132

9.7%

(3.6%)

(4.0%)

Foreign Exchange Gains

844

533

399 2,238

1,588

41.0%

111.2%

58.1%

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

178 (134)

111

257

381 (32.5%)

60.3%

N/A

Cash Recoveries

1,161

731

771 3,041

2,607

16.6%

50.6%

58.8%

Other Income

854 1,451

361 3,085

1,361

126.7%

136.3%

(41.1%)

Total Fee Based Income (As Reported)

5,479

5,127

4,176 18,636 15,069

23.7%

31.2%

6.9%

(19)

18

1 ,3 8 4 1 ,6 8 2 1 ,5 2 4 1 ,5 1 0 1 ,8 8 3 2 ,1 0 7 1 ,6 1 4 2 ,0 0 4 2 ,0 7 1 2 ,5 6 5 2 ,0 3 4 2 ,3 2 2 2 ,3 7 5 3 ,1 6 7 2 ,3 0 9 2 ,6 9 3 2 ,9 5 8 3 ,4 8 8 2 ,5 7 4 3 ,1 7 3 3 ,3 2 2 3 ,7 3 0 1 ,3 2 8 1 ,6 1 2 1 ,5 4 7 1 ,6 3 1 1 ,6 7 1 1 ,9 0 3 1 ,8 6 5 1 ,9 3 9 1 ,8 6 9 2 ,3 7 2 2 ,0 4 2 2 ,3 3 6 2 ,6 7 9 2 ,3 7 4 2 ,6 2 6 2 ,6 6 2 2 ,7 5 2 2 ,8 0 7 2 ,9 2 0 3 ,1 0 9 2 ,9 0 3 3 ,4 4 4 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

G&A Expenses Personnel Expenses

4Q Cost to Income Ratio of 42.7%

Breakdown of 4Q 2015 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

(Rp Bn) (Rp Bn)

43.2% 45.1% 32.4% 37.3% 39.0% 41.6% 44.0% 43.2% 42.7% 51.3% 41.1% 43.1% 42.5% 48.4% 41.8%43.2% 46.6% 44.4% 44.4% 45.2% 40.1% 42.7% CIR (%) 4Q 2015 4Q 2014 FY 2015 FY 2014 Growth QoQ 4Q YoY FY YoY Personnel Expenses

Base Salary 786 675 3,137 2,725 (1.1%) 16.5% 15.1% Other Allowances 1,485 1,261 5,806 5,151 3.6% 17.8% 12.7% Post Empl. Benefits 191 82 475 308 92.1% 132.6% 54.1%

Training 287 187 485 429 190.2% 53.9% 13.0%

Subsidiaries 694 602 2,473 2,235 45.9% 15.3% 10.7% Total Personnel Expenses 3,444 2,807 12,377 10,848 18.6% 22.7% 14.1%

G&A Expenses

IT & telecoms 484 441 1,817 1,504 (1.0%) 9.9% 20.8% Occupancy Related 889 787 2,810 2,412 27.6% 12.9% 16.5% Promo & Sponsor 426 357 1,149 1,100 42.3% 19.5% 4.5% Transport & Travel 184 209 634 656 17.7% (11.8%) (3.2%) Goods, Prof. Svcs. & Oth. 550 517 1,633 1,599 20.0% 6.5% 2.1% Employee Related 494 491 1,991 1,811 (3.6%) 0.7% 10.0% Subsidiaries 702 686 2,766 2,366 (1.1%) 2.2% 16.9% Total G&A Expenses 3,730 3,488 12,800 11,448 12.3% 6.9% 11.8% Other Expenses 906 620 3,578 3,078 21.6% 46.1% 16.2% Total Operating Expenses 8,080 6,914 28,755 25,374 15.9% 16.9% 13.3%

(20)

Top 10 Segments in Corporate Lending Expansion

4Q

5 –

4Q

4 (Total Rp23.11 Tn)

Rp Bn 608

625 899 971 1,824 2,070 2,636 3,120 4,586 7,119

Bus Serv Agri Equip Soc Serv Mfg-Metal Mfg-P&P Mfg-Chem Mfg-RawM Plantations Trad-Exp Mfg-F&B

%

30.80% 19.84% 13.50% 11.40% 8.96% 7.89% 4.20% 3.89% 2.70% 2.63% Rp Bn

Top 10 Segments in Commercial Lending Expansion

4Q

5 –

4Q

4 (Total Rp17.78 Tn)

841 884

988 1,027 1,160 1,355 1,406 1,420 2,202 6,952

Trad-Exp Soc Serv Mfg-Text Trad-Distr Mfg-Metal Mfg-RawM Mfg-F&B Trad-Imp Mfg-Chem Plantations

%

39.1% 12.4% 8.0% 7.9% 7.6% 6.5% 5.8% 5.6%

5.0%

4.7%

(21)

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58,055 62,257 61,691 53,604 74,116 89,959 74,334 73,192 140,278

(10,000)

10,

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30,

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50,

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70,

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90,

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110,

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130,

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150,

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2007 2008 2009 2010 2011 2012 2013 2014 2015

745 2,414 4,066 6,153 7,784 10,943 11,899 12,932 13,629 13,873 14,105 14,397 14,676 15,101

2006 2007 2008 2009 2010 2011 2012 2013 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

C

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248 677 1,178 2,201 2,657 3,598 3,989 4,484 4,832 5,123 5,266 5,384

4Q10 4Q11 4Q12 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

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(22)

Growing Volume in Wholesale Transaction Business

Forex

4 ₄2 ₆3 ₆1 ₅6 ₄1

281,153 310,512

322,795 399,500 379,730 _348,436

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

-10.0 20.0 30.0 40.0 50.0 60.0 70.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15

Value (USD Bn) # of Trx

Wholesale Remittance

435,866

448,219

599,909 651,241

739,046 730,011

-100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15

Value (USD Mn) # of Trx

Mandiri Cash Management*

2,503 7,668

13,676

24,543

44,184

61,599

-25,000 -15,000 -5,000 5,000 15,000 25,000 35,000 45,000 55,000 65,000

-500.0 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 4,000.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15

Value (Rp Tn) # of Trx (000)

Trade Transactions : Export, Import, Domestic

*) _{Excluding Mandiri Transaction System}

495,813

510,916

517,251 520,948

509,207

468,870

440,000 450,000 460,000 470,000 480,000 490,000 500,000 510,000 520,000 530,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Value (USD Bn) # of Trx

(23)

Retail Deposits Decreased by 4.7% Y-o-Y

22

9 5 .5 1 0 9 .6 1 0 7 .3 1 1 2 .7 1 2 0 .4 1 3 4 .0 1 3 2 .7 1 4 0 .6 1 4 6 .1 1 6 5 .0 1 5 7 .5 1 6 6 .8 1 7 6 .3 1 9 0 .9 1 7 9 .0 1 8 0 .8 1 8 4 .7 2 0 2 .6 1 8 2 .5 1 8 6 .0 1 8 8 .0 2 0 9 .8 8.1

11.0 11.7 11.911.5

11.3 12.712.8 13.0

13.7 14.715.6

18.4 20.7

21.0 22.021.8 24.0

22.2 23.224.3 23.1

9.4

11.1 10.5 11.9 12.2

15.7 14.615.4 16.1

18.6 17.016.7

28.6 33.0

29.7 33.634.4 40.2

33.536.4 25.0 31.9

3.33.2 3.5 3.5 4.1

4.2 4.3 4.3

10.7 11.4

12.111.9 13.1 13.0

12.814.4 _7.8 7.6

68.5

70.5 69.0 68.6 70.8

73.1 71.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4 100.1108.3 120.0 119.2116.0 110.0 110.3 6.8 5.8 5.35.2 5.2

5.3 5.0 5.0 5.1 5.0 4.7 4.6 6.4 7.0 6.3 7.0 7.2 9.5 9.0 7.8 7.7 7.4 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits

FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit Analysis –

Bank Only

3.3%

2.5% 2.3% 2.4% 2.2%

2.8%

2.0% 1.9% 1.7%

2.2% 1.8%1.9% 2.0%2.0%2.0% 2.1%

1.9% 2.1%

2.1% 2.6% 2.4% _2.2%

2.1%

1.5% _1.5% _{1.5% 1.5% 1.5% 1.4% 1.3%} 1.2% 7.2% 6.7% 6.5% 6.5% 6.3% 5.0% 5.1% 4.9% 5.5% 6.6% 7.0% 8.3% 7.9% 7.8% 7.4% 7.5% 7.2% 0% 5% 10% 15% Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

0.6%

0.1% 0.1%

0.1% 0.3% 0.3% 0.3% 0.3% 0.2%

0.3% 0.4%

1.9%

0.5% 0.5%

0.4% 0.7% 0.8% 0.7% 0.6%

0.8% 0.8% 1.2% 1.3% 1.8% 1.2% 0.8% 0.6% 0% 2% 4% 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

FX DD FX TD 63.3% 63.8% 64.9% 66.1% 66.5% 69.6% 70.1% 71.6% 72.9% 73.0% 73.7% 71.9% 68.8% 68.4% 66.2% 67.7% 65.1% 67.3% CASA as % of total deposits

(24)

6 0 ,6 7 6 6 3 ,3 2 3 6 6 ,8 5 1 7 3 ,3 2 4 8 1 ,0 4 6 8 4 ,6 7 5 9 1 ,5 0 4 9 6 ,2 6 8 1 0 5 ,1 9 2 1 0 8 ,4 3 4 1 1 8 ,7 8 8 1 2 3 ,8 3 3 1 3 0 ,1 5 8 1 3 1 ,8 5 7 1 4 0 ,1 8 9 1 4 6 ,7 4 4 1 5 5 ,3 3 8 1 5 8 ,1 7 3 1 6 5 ,3 0 4 1 6 7 ,4 2 9 1 7 5 ,2 1 1 27.7% 28.6% 27.6% 28.3% 29.6% 29.6% 29.8% 30.2% 30.9% 31.8% 31.7% 31.3% _31.2% 31.8% 32.6%32.5% 32.7% 33.1% 33.3%33.3% 32.7% 20% 22% 24% 26% 28% 30% 32% 34% 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000 150,000 160,000 170,000 180,000 190,000 200,000 4 Q 2 0 1 0 1 Q 2 0 1 1 2 Q 2 0 1 1 3 Q 2 0 1 1 4 Q 2 0 1 1 1 Q 2 0 1 2 2 Q 2 0 1 2 3 Q 2 0 1 2 4 Q 2 0 1 2 1 Q 2 0 1 3 2 Q 2 0 1 3 3 Q 2 0 1 3 4 Q 2 0 1 3 1 Q 2 0 1 4 2 Q 2 0 1 4 3 Q 2 0 1 4 4 Q 2 0 1 4 1 Q 2 0 1 5 2 Q 2 0 1 5 3 Q 2 0 1 5 4 Q 2 0 1 5

Retail to Total Loans

Building our High Yield Business in Retail Lending

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

(Rp Bn)

64,706 72,250

7,544

4Q 2014 Growth 4Q 2015 YoY 11.7% Consumer Finance (Rp Bn) Business Banking 56,037 60,454 4,417

4Q2014 Growth 4Q2015

YoY 7.9% (Rp Bn) Micro Credit 34,596 42,507 7,911

4Q2014 Growth 4Q2015

YoY 22.9%

(25)

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200 300 502 687 898 994

600 800 800 878 928 1,027 1,127 1,427

10 152 480 710 760 751 706 673

2008 2009 2010 2011 2012 2013 2014 2015

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73,566 79,500 76,325 94,855 74,037 110,000 121,007 146,359 126,509 140,064 131,715 147,825 138,747 160,620 136,196 162,181 140,886 167,145 158,909 162,738 134,501 138,500 97,164 127,828

1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15

2008 2009 2010 2011 2012 2013 2014 2015

(26)

…as ell as Co su e Le di g, hich ‘ose . %

Y-o-Y as Auto Lending Remains Strong

1 3 ,5 0 0 1 4 ,2 6 8 1 5 ,5 2 3 1 6 ,4 6 6 1 7 ,7 7 9 1 8 ,7 6 4 2 0 ,1 1 3 2 0 ,9 1 9 2 2 ,8 1 8 2 4 ,0 9 2 2 6 ,1 3 5 2 7 ,3 5 7 2 6 ,9 9 5 2 6 ,6 9 0 2 6 ,5 0 5 2 6 ,3 4 7 2 6 ,4 9 5 2 6 ,2 0 7 2 6 ,3 4 0 2 6 ,3 6 9 2 6 ,8 3 2 3 ,9 5 7 3 ,9 6 4 3 ,9 7 9 3 ,9 4 9 3 ,8 8 7 3 ,7 7 7 3 ,6 7 9 3 ,5 7 1 3 ,4 7 1 3 ,3 6 5 3 ,3 1 2 3 ,2 4 0 3 ,1 8 1 3 ,1 7 2 3 ,1 9 8 3 ,2 4 0 3 ,3 1 0 3 ,3 2 6 3 ,4 3 2 3 ,5 3 4 3 ,7 3 9 6 ,3 7 4 6 ,3 9 8 6 ,7 0 8 6 ,8 6 1 6 ,9 9 5 7 ,1 4 3 7 ,4 1 2 7 ,7 5 3 8 ,2 0 6 8 ,3 8 6 8 ,9 5 8 9 ,3 7 4 9 ,7 8 1 1 0 ,0 3 0 1 0 ,6 4 2 1 1 ,2 5 3 1 1 ,8 8 0 1 2 ,2 0 1 1 2 ,8 3 8 1 3 ,4 0 8 1 4 ,1 0 3 3 ,5 8 9 3 ,5 7 5 3 ,7 6 1 3 ,9 1 0 4 ,2 9 6 4 ,2 4 5 4 ,4 9 2 4 ,5 9 0 5 ,0 3 5 5 ,0 2 5 5 ,1 9 5 5 ,3 0 3 5 ,6 2 0 5 ,5 5 7 6 ,8 5 5 7 ,5 6 8 8 ,2 8 8 8 ,3 4 3 8 ,7 5 1 8 ,6 8 3 8 ,9 7 0 2 ,8 2 6 3 ,4 5 4 3 ,4 9 2 4 ,2 0 0 5 ,1 1 5 5 ,8 2 9 6 ,5 9 3 6 ,6 0 9 7 ,2 0 9 7 ,4 8 6 7 ,9 0 5 9 ,0 1 3 1 0 ,2 1 8 1 1 ,0 8 3 1 2 ,2 6 0 1 3 ,2 7 1 1 3 ,9 8 3 1 4 ,8 9 0 1 5 ,6 3 0 1 6 ,6 4 1 1 7 ,6 0 8 447 698 791

873 928 964 1,016

1,037 1,010 966

927 904

809 840 805 765

750 683 733 892

998 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 Other Auto Credit Cards Payroll Loans Home Equity Loans

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

19.94%

5.78%

Auto Loans*

25.92%

5.81%

Credit Cards

8.22%

3.30%

Payroll Loans

26.58%

5.64%

Home Equity Loans

12.97%

5.81%

Mortgages

1.27%

1.75%

Total Consumer

11.66%

3.92%

Quarterly Consumer Lending Balances by Type

Consumer Lending Growth by Type

Rp 72.3 Tn

*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 8.2 Tn in our Commercial Portfolio

(27)

Enhanced Transaction Capabilities

26 Quarterly Transaction Value (Rp Tn)

Quarterly Users (Mn)

95.5 122.2 147.7 153.8 170.0 179.3 191.2 192.6 208.1 210.0 241.5 245.0

2.1 3.5 4.1 5.0

6.6 8.3 10.5

17.6 28.3 35.7

38.9 53.0

7.1

14.0 18.1

23.5 26.8

29.4 33.3 33.3 34.5 46.7 32.6 35.0 0 20 40 60 80 100 120 140 160 180 200 220 240 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 ATM Mobile Banking Internet Banking 7.7 8.6 8.2 9.2 10.0 10.6 11.1

11.6 11.8 12.4 12.6

12.6

3.2 4.7 4.9

5.3 5.6 5.8

6.1 6.3

6.5 6.7 6.8 6.9

1.2

1.0 1.1 1.2 1.3

1.4 1.5 1.6 1.7 1.8 1.9 2.0

0 2 4 6 8 10 12 14 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 Debit Cards Mobile Banking Internet Banking

Quarterly Transaction Volume (Mn)

142 157

184 189

212 218

233 235 246 249

268

293 295

36 44

41 _{43 41 39}

44 51

47 48

12 18

23 26 32 31 34 57 70 113 172 196 17 42 55 78 85 67 76

81 89 117 102 117 0 25 50 75 100 125 150 175 200 225 250 275 300 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 ATM Branch Mobile Banking Internet Banking

(28)

Retail Payment System Gaining Traction

Volume Mandiri Business

Saving Account (Rp Tn)

Numbers of EDC

23,690

27,611 33,732 47,127

92,903 180,532

230,352 270,352

286,861

Fee Income from e-channel Tx (Rp Bn)

52.1 89.4 126.2 200.3 258.2

315.2 347.6 414.7 604.3 65.5 98.5

166.6 196.5

285.7 318.6 382.0

490.3 663.4

81.9 110.5 194.5

249.3 313.9

361.8 437.5

489.2 683.3

89.0 117.8

223.7 268.5

312.8 464.4

512.9 664.8

771.0

Q4 Q3 Q2 Q1 32.2%

YoY Growth

3.5 4.8 8.0 17.7

34.7 59.4

85.8

102.3 108.5

6.1% YoY Growth

(29)

Making Inroads into SME and Retail Payments

28

Fiesta Point Program

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

Mandiri Belanja Untung Program

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

Belanja Hoki/ Dagang Hoki Program

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

# MTB Transaction & Volume

2 0 1 ,1 0 6 2 1 2 ,8 4 4 2 6 1 ,9 3 5 2 6 5 ,4 2 3 2 7 2 ,2 1 2 2 9 0 ,0 1 9 3 0 6 ,8 3 1 3 4 9 ,8 6 8 2 9 9 ,4 1 7 3 2 2 ,5 8 7 3 0 8 ,8 3 2 3 4 8 ,0 5 9 9,235 10,601 11,385 12,616 12,773 14,068 14,508 16,052 15,996 17,444 17,101 18,373 -3,000 6,000 9,000 12,000 15,000 18,000 -50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5

# of Volume # of Transactions (000)

# MIB Transaction Value & Users

# SME Business w/ Mandiri Acc

543,972

643,334

789,300 845,073

2012 2013 2014 2015

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

11,535 13,542

15,312 15,97117,802

18,216 22,570 24,676

26,441 28,122

27,591 29,040

1Q '13 2Q '133Q '134Q '131Q '142Q '143Q '144Q '14 1Q '152Q '153Q '154Q '15

(30)

2

9

14,058 13,451 13,502 15,918 17,255 17,124 19,559 18,838 18,886 18,824 19,054 16,924 14,846 14,292 13,336 12,986 13,944 13,606 15,676 14,856 15,626 16,989 17,672 17,755 19,272 21,586 23,825 22,958 27,116 29,549 28,547 27,078 1 1 .5 % 1 0 .0

% 9 ₉.2%

% 9.8

% ₁0.4

% 9.4

% 8.2 % 6.9

% 5.2

% 4.1

% 3.9

% 3.8

% 4.0

% 3.8

% 4.4

% 4.3

% 5 .1 % 5 .3 % 5 .1 % 4 .5 % 0 2 ,0 0 0 4 ,0 0 0 6 ,0 0 0 8 ,0 0 0 1 0 ,0 0 0 1 2 ,0 0 0 1 4 ,0 0 0 1 6 ,0 0 0 1 8 ,0 0 0 2 0 ,0 0 0 2 2 ,0 0 0 2 4 ,0 0 0 2 6 ,0 0 0 2 8 ,0 0 0 3 0 ,0 0 0 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 S pe c ial Me nti on S pe c ial Me nti on Rati o

N

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5.14% 4.74% 4.44% 4.73% 5.85% 4.78% 3.79% 2.79% 2.56% 2.54% 2.60% 2.42% 2.60% 2.42% 2.56% 2.21% 2.22% 2.07% 2.04% 1.87% 2.08% 1.89% 1.90% 1.90% 2.07% 2.23% 2.16% 2.15% 2.27% 2.43% 2.81% 2.60% 1 1 6 .0 % 1 2 2 .5 % 1 3 8 .9 % 1 2 7 .1 % 1 1 6 .6 % 1 3 6 .1 % 1 5 5 .2 % 2 0 6 .0 % 1 9 1 .7 % 1 9 2 .4

% ₁55

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

% 15

7 .4 % 1 5 7 .1 % 1 5 0 .5 % 1 3 7 .7 % 1 3 6 .2 % 1 4 5 .5 % 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 G ro ss N P L Rat io P ro v/ N P L

G

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(31)

Non-Performing Loans by Segment

* Excluding loans to other banks

30 Q4 2015 Total NPLs of Rp 12.28 Tn with Rp 1.57 Tn in Write-Offs

Movement by Customer Segment (Rp Bn)

12.15

1.14 _3.00

0.31

1.57

0.16 _12.28

3Q' 2015 UG to PL DG to NPL Payment Write-Offs Other 4Q' 2015

Non-Performing Loan Movements (Rp Tn)

–

Bank-Only

772

315 118

1,542

599 111

422

200

507

288

217

486

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

UG to PL DG to NPL W/O

Corp Comm Small Micro Cons

NPLs

4Q



NPLs

(Rp tn)

(%)

Corporate

2.60 (0.59)

1.30%

Commercial

4.60

0.79 2.86%

Small

2.28

0.00 3.76%

Micro

1.54

0.06 3.61%

Consumer

1.27 (0.12)

1.76%

(32)

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

_{4Q 2015 Details}

Loan

Background

Q

Balance

(Rp Bn)

4Q

2013

1Q

2014

2Q

2014

3Q

2014

4Q

2014

1Q

2015

2Q

2015

3Q

2015

4Q

2015

DG to

NPL

%

UG to

PL

%

Corporate

192,762

0.00

0.10 -

0.06 -

0.11

0.38

0.24

0.16

0.40 Commercial

154,795

0.01

0.08

0.04

0.12

0.37

0.13

0.95

0.83

0.77

0.85

0.08 Small

57,622

0.64

0.97

0.70

0.45

0.31

1.29

1.17

1.24

0.54

0.73

0.18 Micro

42,487

0.89

1.16

1.26

1.19

0.83

1.25

1.37

1.50

1.08

1.19

0.11 Consumer

72,024

0.07

0.35

0.20

0.09

0.28

0.23

0.25

0.17

0.30

0.13 Total

519,690

0.13

0.30

0.21

0.20

0.25

0.33

0.60

0.68

0.31

0.53

0.22 4Q 2015 Annualized Net Downgrades of 1.3% on Loans

Originated Since 2005

(33)

32 Restructured Loans

5.0 10.0 15.0 20.0 25.0 30.0

Restructured Loans

Downgrade to Non-Performing After being Restructured

14.9%

17.2%

16.2%

13.0% _12.8%

17.6%

13.5%

0.8%

0.2%

3.9%

0.2%

5.5% 5.7%

1.6%

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0%

(34)

Enhancing Synergies & Value from Subsidiaries

Total Assets Rp70.4 Tn

Bond Trading Volume Rp55.6 tn

Total Assets Rp22.3 Tn

Total Loans Rp1.6 Tn

Total Financing Rp17.1Tn Total Financing

Rp51.1 Tn

Equity & FI Underwriting Rp13.7 tn

Annual FYP Rp3,005 Bn

Net Interest Margin 9.6 %

Net Interest Margin 3.47% Total Deposits

Rp62.1 Tn

Equity Trading Volume Rp116.5 tn

ROA 5.8%

ROA 1.71%

ROA 5.13% ROE

5.92%

ROE 1.4%

ROE 69.6%

ROE 4.76%

ROE 29.8%

•Remains the leader in syariah financing

•Capital injection program over 3 years

•Cross-selling syariah products to Mandiri customers

•Expansion of business to fully utilize current capital base

•Cross-sell capital market services to broad range of Mandiri customers

•Refocus business toward higher fee income

•Providing end-to-end bank assurance business

•Continue to build cross-sell opportunities in various segments

•Bancassurance products to complete our suite of consumer offerings

•Enhancing operating model

•Improving risk

management systems and IT

•Improving productivity

• Pe et ate Ba k Ma di i s network and customer base to develop the

multifinance segment with a strong focus on new 4 wheel vehicles.

Investment Banking

(35)

A

X

A

M

an

d

ir

i F

in

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ci

al

S

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rv

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P

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rf

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an

ce

3

4

90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 297 316 308 360 274 247 394 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 N e t P ro fi t A ft e r Ta x ( R p B n ) A n n u a l Fi rs t Ye a r P re m iu m ( A F Y P ) (Rp B n ) # o f P o li cy H o ld e rs 599 549 673 820 742 769 946 796 892 712 667 695 850 726 774 611 832 874 648 648 816 719 822 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 810,604 892,582 1,518,536 1,602,778 1,638,543 1,695,242 1,744,124 1,790,508 1,858,702 1,878,121 1,918,703 1,966,698 2,032,635 2,122,563 2,216,648 2,354,395 2,479,161 2,656,672 2,961,906 3,162,354 3,360,000 3,465,385 3,710,147 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 2 0 .1 8 % Y o Y G ro w th 2 7 .9 2 % Y o Y G ro w th 2 5 .2 6 % Y o Y G ro w th

(36)

Ba k Ma di i s

Co po ate Guida ce

2015 Target

2015 Realization

2016 Target

Gross Loan Growth (YoY)

11%-13%

12.4%

12% - 14%

Low Cost Deposits

Rp 420 Tn

Rp 444 Tn

Rp 480 Tn

Net Interest Margins

>5.80%

6.08%

5.80% - 6.00%

Efficiency Ratio

<45%

43.00%

<45.0%

Gross NPLs

2.5%-3.0%

2.60%

2.5% - 3.0%

Cost of Credit

1.9%-2.1%

2.12%

1.9%-2.1%

# of New ATMs

2,500

2,044

1,500

# of New EDCs

40,000

55,544

50,000

# of New Micro Outlets

300

355

150

(37)

36

Operating Performance

Highlights

(38)

Corporate Banking:

Generating Strong Asset Spread

Performance to Date: FY 2015 (Rp Bn)

_{Strategies for 2016}

1. Focusing on Anchor Clients and

penetrating through using of

Transaction Banking

2. Account Plan implementation for top

76 Corporate Banking Customers.

3. P o ide o e stop se ice solutio s fo

custo e s t a sactio s a d c eate

new business process to accelerate

the execution of Account Plan

including effective and responsive

Complaint Handling.

4. Strengthen business alliance with

Mandiri InHealth & Mandiri DPLK to

ease corporate customers to manage

their needs in health insurance &

pension fund / severance

4,661

2,698

1,630 674

8,315 418

(39)

38 InHealth

–

Opportunity to Increase Fee Income and

Contribute to the Insurance Portfolio

Leveraging our institutional, corporate, &

commercial customers

Providing solutions through our banking

products to InHealth healthcare provider

Cross-selling Mandiri products to InHealth

members

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

• InHealth has over 7,072 healthcare providers and recorded over Rp 954 Bn in claims year to date 2015

• Bank Mandiri will leverage the hospital network asI Health s partner to increase transactions through enhanced cash management products

• Bank Mandiri also will provide retail packaged products for all the doctors asI Health spartner

InHealth earned premium payments of Rp 1,432 Bn in 2015 year to date from clients. Going forward, Bank Mandiri will encourage the use of cash management products through Bank Mandiris distribution channels and cross sell other products to over 940,696 InHealth members.

5,501 6,242 6,314 6,262 6,094 6,189

7,072

-2,000 4,000 6,000 8,000

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

2009 2010 2011 2012 2013 2014 2015

Total Member # of Providers

36 78 47 107 120 203 153

203

811

1,073 1,203

1,410 1,400 1,432

0 50 100 150 200 250

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

2009 2010 2011 2012 2013 2014 2015

(40)

1. Integrated Wholesale Transaction

Banking.

Broaden product offering and services.

3. Acquire RMB License for Bank Mandiri

Shanghai Branch.

4. Open new Distribution Channel in

BMHK.

5. Increased capacity and business

processes for distribution and retail

brokerage.

6. New product innovations to improve

alliances and synergies with Mandiri

Group.

Treasury & Market

3,624

3,679 551

6,753 107 _6,620

(41)

Mandiri Sekuritas

fi a cial pe fo

a ce

Q4 2015

Q42014

Y-o-Y



(%)

Revenues

588

652 (10%)

• Investment Banking

142

139 2%

• Capital Market

268

312 (14%)

• Proprietary

3

65 (95%)

• Investment Mgt

175

135 29%

)

Operating Expenses

506

452 12%

Earnings After Tax

15

93 (84%)

Equity Transactions

–

bn

116,543

129,037

(10%)

SUN Transactions - bn

55,570

75,685

(27%)

Equity & Bonds

Underwritten

–

bn

13,711

8,751

57%

ROA

1.1%

5.5%

(79%)

ROE

1.4%

9.5%

(84%)

(Rp Bn)

40

(42)

Commercial Banking:

Strong revenues from Assets

1.Support Bank

Ma di i s

Wholesale

Banking vision as an Integrated

Wholesale Bank through sophisticated,

customized and complete services

leading to increased revenue through

Wholesale Deposit generation and Fee

Income.

2.Increasing profit and market share

th ough i c easi g e isti g custo e s

share of wallet, increasing revenue from

e custo e s a d a agi g NPL s.

3.Provide the best total business solutions

for commercial customers by developing

products and services including quality

bundling of products, quick service and

competitive pricing.

4.Effective Alliance in units based on

customer base in Commercial segment,

especially in developing value chain

business.

Performance to Date: FY 2015 (Rp Bn)

_{Strategies for 2016}

5,772

1,272

1,213 472

7,785

3,299

(43)

Commercial Banking :

Stronger Platform & Improved Distribution Capability

42 Expanding Scope of Distribution, Q4 2015

Solid & Stable Source of

_{Low Cost Funds}

Product Q4

2015

Q4 *

2014 Growth Demand

Deposit 38.12 32.14 18.61%

Rupiah 20.87 20.42 2.20%

FX 17.25 11.72 47.18%

Saving

Deposit** 8.56 4.62 85.28%

Total CASA 46.68 36.76 26.99%

Total Funding 63.63 55.50 14.65%

CASA Ratio = 73.36%

Funding from Java & Bali = 73.71% of total funding

Sumatera Loans = Rp 25,9 tn

Funds = Rp 9.7 tn

Kalimantan Loans = Rp 8.0 tn Funds = Rp 4.6 tn

Eastern Loans = Rp 4.5 tn Funds = Rp 2.5 tn

Java and Bali Loans = Rp 122,2 tn

Funds = Rp 46.9 tn

* Resegmentasi

** Business Savings Product CBC = 24 Unit Floor = 23 Unit

(44)

1. Continue to develop retail payment

solutions for top retail industry value

chains and business clusters in order

to increase low cost deposit and

fee-based income

2. Develop customer education to

further increase usage of new retail

products (e.g., prpaid) as well as

e-channel transactions in order to

i c ease custo e s lo alt a d

balances.

Micro & Business Banking:

Rapidly growing our high margin business

Performance to Date: FY 2015 (Rp Bn)

_{Strategies for 2016}

7,333

4,590

2,068

3,144

10,847

3,692

(45)

Business Banking :

44

Medan

Makassar Banjarmas

in Surabaya Semarang

Denpasar Bandung

Pekanbaru

Palembang

B.Lampung

Pontianak

Samarinda

Manado

Palu _Jayapura

Balikpapan Batam

Jambi Pematang siantar

Padang

Bekasi Jakarta

Solo Tangerang

Bogor

Branch Models that covered SME Customers M-1 Branch : 75

M-2 Branch : 89 M-3 Branch : 164

Expanding Scope of Distribution, 2015

Solid & Stable Source of

_{Low Cost Funds*}

Product Q4

2014

Q4 2015

Growth YTD

Demand

Deposit 25.6 36.4 42.2%

Saving

Deposit 66.1 74.3 12.4%

Total CASA 91.7 110.7 20.7%

Total

Funding 121.7 133.2 9.5%

Rp Tn

CASA Ratio = 83,2%

Funding from Java & Bali = 75.2% of total funding

Sumatera Loans = Rp 14.6 tn Funds = Rp 16.7 tn

Kalimantan Loans = Rp 9.3 tn Funds = Rp 6.4 tn

Eastern Loans = Rp 8.0 tn Funds = Rp 10.0 tn

Java and Bali Loans = Rp 28.5 tn Funds = Rp 100.2 tn

(46)

4

5 B

SM

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in

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A

ss

e

t

Q

u

al

it

y

Is

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10.31 13.28 16.06 23.97 36.73 37.44 39.93 41.82 44.50 46.30 48.40 49.70 50.46 49.82 49.60 49.32 49.13 48.80 50.40 50.60 51.09 4Q '07 4Q '08 4Q '09 4Q'10 4Q '11 1Q '12 2Q '12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 Fi n a n ci n g 91.1% 89.1% 83.1% 82.7% 86.2% 87.2% 92.2% 93.9% 93.9% 95.6% 94.2% 91.3% 89.4% 90.3% 89.9% 85.7% 82.1% 81.7% 85.3% 84.5% 82.0% FD R

Sy

ar

ia

h

Fi

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an

ci

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(

R

p

tn

)

Fi

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an

ci

a

l P

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(

R

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n

)

FY ’ FY ’ FY ’ FY ’ FY ’ FY ’ FY ’ FY ’ Fi n an ci n g 1 3 ,2 7 8 1 6 ,0 6 3 2 3 ,9 6 8 3 6 ,6 6 4 4 4 ,7 5 5 5 0 ,4 6 0 4 9 ,1 3 3 5 1 ,0 9 0 D e p o si ts 1 4 ,8 9 9 1 9 ,3 3 8 2 8 ,9 9 9 4 2 ,6 1 8 4 7 ,4 0 9 5 6 ,4 6 1 5 9 ,8 2 1 6 2 ,1 1 3 A ss e ts 1 7 ,0 6 6 2 2 ,0 3 7 3 2 ,4 8 2 4 8 ,6 7 2 5 4 ,2 2 9 6 3 ,9 6 5 6 6 ,9 4 2 7 0 ,3 6 9 E A T 1 9 6 .4 2 2 9 0 .9 4 4 1 8 .5 2 5 5 1 .0 7 8 0 5 .6 9 6 5 1 .2 4 7 1 .7 8 2 8 9 .5 8 R ati o s: RO A ( % ) 1 .8 3 2 .2 3 2 .2 1 1 .9 5 2 .2 5 1 .5 3 0 .1 7 0 .5 6 R O E ( % ) 2 1 .3 4 2 1 .4 0 2 5 .0 5 2 4 .2 4 2 5 .0 5 1 5 .3 4 1 .4 9 5 .9 2 G ro ss N P F 5 .6 6 % 4 .8 4 % 3 .5 2 % 2 .4 2 % 2 .8 2 % 4 .3 2 % 6 .8 3 % 6 .0 6 %

N

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Yo A C o F N IM 6.3% 6.3% 6.6% 6.6% 7.5% 6.9% 6.9% 7.0% 7.3% 7.1% 7.3% 7.2% 7.3% 6.3% 6.2% 6.0% 6.2% 6.3% 6.3% 6.4% 6.5% 4Q '07 4Q '08 4Q '09 4Q'10 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 12.4% 13.0% 12.7% 12.3% 13.0% 11.5% 12.0% 12.2% 12.4% 12.3% 12.4% 12.1% 12.0% 11.1% 11.1% 11.0% 10.9% 10.6% 10.0% 10.6% 10.9% 5.4% 5.7% 5.6% 5.1% 5.2% 4.5% 4.7% 4.5% 4.5% 4.6% 4.0% 4.0% 4.1% 4.4% 4.5% 4.5% 4.4% 4.4% 4.3% 4.2% 4.2%

(47)

46 Consumer Banking:

Significant growth in spread and fee income

1. #1 in Auto with new product and 2W

subsidiary build up

2. #1 position

in Credit

Card

with

innovation and portfolio optimization

3. #1 in mortgage via new segments and

mandiri synergies

4. Drive growth in personal loans via new

products and distritbution.

5. #1 bank for

I do esia s

Gen-Y

6. Recognized

innovator

in

banking-unbanked.

7. Extend #1 position in wealthy and

affluent.

Performance to Date: FY 2015 (Rp Bn)

_{Strategies for 2016}

11,660

6,291

_2,071

15,881

_1,765

(1)

9

4 A

ss

e

t

an

d

L

iab

ili

ty

M

ix

R

e

lat

iv

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t

o

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an

k

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,

A

s

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b

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r

2

0

1

5

2.4% 3.0% 3.7% 4.0% 5.4% 5.5% 5.8% 6.4% 6.5% 6.6% BCA BNI Mandiri BRI Danamon CIMB Niaga BII Panin Permata BTN 80.7% 76.9% 75.0% 74.6% 73.5% 72.6% 71.5% 70.0% 67.5% 67.5% BII CIMB Niaga BTN Permata Panin BNI Danamon BRI BCA Mandiri 76.5% 65.1% 61.9% 56.2% 49.2% 47.6% 46.1% 41.4% 39.9% 36.2% BCA Mandiri BNI BRI BII CIMB Niaga Danamon Panin BTN Permata 810,249 775,816 573,166 429,277 239,020 194,224 168,255 166,038 163,621 145,971 Mandiri BRI BCA BNI CIMB Niaga Permata Panin BTN Danamon BII

Lo

an

s

to

T

o

tal

E

ar

n

in

g

A

ss

e

ts

(%

)

C

o

st

o

f

Fu

n

d

s

(p

.a.

)

(%

)

To

tal

A

ss

e

ts

(Rp

b

n

)

Lo

w

C

o

st

D

e

p

o

si

t

R

a

ti

o

(%

)

11.1% 10.9% 9.9% 9.7% 9.7% 9.4% 9.2% 8.8% 8.6% 8.3% Danamon BRI BTN CIMB Niaga Panin Permata BII BNI Mandiri BCA

Y

ie

ld

o

n

A

ss

e

ts

(

p

.a.

)

(%

)

611,325 594,248 462,296 330,916 177,996 139,332 123,394 115,919 112,284 105,427 BRI Mandiri BCA BNI CIMB Niaga Permata Panin BTN Danamon BII

To

tal

D

e

p

o

si

ts

(Rp

tn

)

A ve rag e

(2)

9

5 E

ff

ic

ie

n

cy

M

e

as

u

re

s

R

e

lat

iv

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t

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B

an

k

O

n

ly

,

A

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p

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m

b

e

r

2

0

1

5

38.2% 39.0% 43.6% 43.9% 49.4% 50.1% 53.1% 57.4% 60.2% 63.2% Mandiri BCA BRI BNI Danamon CIMB Niaga Permata Panin BTN BII 531 407 355 244 139 121 99 55 44 17 BCA Mandiri BRI BNI BII Permata Panin BTN Danamon CIMB Niaga 18.991 17.923 16.738 14.350 13.915 13.152 12.751 11.879 11.096 BCA Permata Mandiri BTN BNI BII CIMB Niaga BRI Panin 17,076 14,991 14,929 14,162 14,046 12,440 12,200 10,226 10,084 2,690 Permata BCA BII Mandiri BTN CIMB Niaga BNI Panin BRI Danamon

P

ro

fi

t/

E

m

p

lo

ye

e

(Rp

Mn

)

C

o

st

/

In

co

m

e

(%

)

Lo

an

s/

E

m

p

lo

ye

e

(Rp

Mn

)

D

e

p

o

si

ts

/

E

m

p

lo

ye

e

(Rp

Mn

)

661 497 436 306 197 158 131 74 55 26 BCA Mandiri BRI BNI BII Permata Panin BTN Danamon CIMB Niaga

P

re

T

a

x

In

co

m

e

/E

m

p

lo

ye

e

(Rp

Mn

)

6.2% 5.9% 5.3% 5.0% 4.9% 4.4% 3.9% 3.8% 3.2% 3.1% Danamon CIMB Niaga BNI BCA BRI BII Mandiri Permata BTN Panin

C

o

st

/A

ss

e

ts

(%

)*

* A n n u a li ze d A ve rag e

(3)

9

6 M

e

as

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f

Sc

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B

an

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O

n

ly

,

A

s

o

f

Se

p

te

m

b

e

r

2

0

1

5

29.6% 22.5% 22.2% 16.1% 15.1% 9.3% 8.3% 7.5% 4.5% 1.2% BRI Mandiri BCA BNI BTN Permata Danamon Panin BII CIMB Niaga 2,380 2,045 1,795 1,329 1,160 859 857 633 556 460 Mandiri BRI BNI Danamon BCA CIMB Niaga BTN Permata Panin BII 8.1% 6.9% 6.6% 6.5% 5.6% 5.2% 4.8% 4.5% 4.3% 4.0% BRI Danamon BCA BNI Mandiri CIMB Niaga BTN BII Panin Permata 51,462 39,549 35,503 24,343 23,781 13,959 11,121 8,814 7,774 7,347 BRI Danamon Mandiri BCA BNI CIMB Niaga Panin BTN Permata BII

B

ran

ch

e

s

R

e

tu

rn

o

n

E

q

u

it

y

(A

ft

e

r

Ta

x)

(%

)

E

m

p

lo

ye

e

s

N

e

t

In

te

re

st

Mar

g

in

s

(%

)

4.0% 3.9% 3.0% 2.5% 1.8% 1.5% 1.2% 0.9% 0.5% 0.2% BRI BCA Mandiri BNI Danamon BTN Panin Permata BII CIMB Niaga

R

e

tu

rn

o

n

A

ss

e

ts

(

B

e

fo

re

T

a

x)

(%

)

21,685 17,341 16,783 14,219 3,366 1,830 1,600 1,473 1,008 1,001 BRI Mandiri BCA BNI CIMB Niaga BTN BII Danamon Permata Panin

A

T

Ms

A ve rag e

(4)

Notes

………..

(5)

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

Equity Research Contact Details

BROKERAGE ANALYST TELEPHONE E-MAIL

BAHANA SECURITIES Teguh Hartanto 62 21 250 5081 [email protected]

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

BARCLAYS CAPITAL Sharnie Wong 852 2903 3457 [email protected]

BNP PARIBAS Igor Nyoman 62 21 2358 4947 [email protected]

CIMB SECURITIES Jovent Giovanny 62 21 515 1330 ext. 262 [email protected]

CITI INVESTMENT RESEARCH Salman Ali 62 21 2924 9219 [email protected]

CLSA LIMITED Sarina Lesmina 62 21 2554 8820 [email protected]

CREDIT SUISSE Sanjay Jain 852 2101 6088 [email protected]

DANAREKSA SEKURITAS Adriana Indrajatri 62 21 2955 5777 [email protected]

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

DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 62 21 2964 4525 [email protected]

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

HSBC LTD Loo KarWeng 65 6239 0654 [email protected]

INDO PREMIER SECURITIES Stephan Hasjim 62 21 5793 1168 [email protected]

J.P. MORGAN ASIA Harsh Modi 65 6882 2450 [email protected]

KIM ENG SECURITIES Rahmi Marina 62 21 2557 1188 [email protected]

MACQUARIE CAPITAL SECURITIES INDONESIA Lyall Taylor 62 21 2598 8489 [email protected]

MORGAN STANLEY Mulya Chandra 62 21 3048 8125 [email protected]

NOMURA Jaj Singh 65 6433 6973 [email protected]

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

UBS Joshua Tanja 62 21 574 0111 [email protected]

(6)

PT Bank Mandiri (Persero) Tbk

PLAZA MANDIRI

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

Tel: 62-21 526 5045

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

www.bankmandiri.co.id

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

Corporate Secretary Tel: +62 21 524 5740 Fax:: +62 21 526 8246

2015Q4 Analysts Meeting a

PT Bank Mandiri (Persero) Tbk

FY 2015

Results Presentation

Share Information

2

Table of Contents



























Core inflation remains stable and

headline inflation expected to drop

Inflation And Current Account Deficit Appear Manageable

The Current Account Deficit is

improving through 4Q15

3

GDP expansion remains below the

historical average and under pressure

Cash Management

•

15,101 Customers

•

61.6 Mn Trx in

2015

4

Bank Mandiri Remains on Track to B

eco e I do esia s Most

Admired Financial Institution

Retail Loans

•

Rp 175.2 Tn

•

32.7% of Loans

•

High yield loan

amounting Rp 114.8 Tn

Subsidiary Income

•

Total Rp 2.07 Tn

•

Sum of income from

11 subsidiaries

(10.2 % of EAT)

Alliances

•

Bank Guarantee: Rp 34.7 Tn

•

Foreign Exchange: Rp 16.4 Tn

•

Fund Under Management

(FUM): Rp 3.6 Tn

e-Channel Tx

•

2.1 Bn Trx

•

16.6% YoY Growth

# of Cards Issued

•

Credit

3.97 Mn

•

Debit 13.25 Mn

•

Prepaid 6.66 Mn

# of Accounts

•

Deposit 16.92 Mn

•

Loan 1.62 Mn

including mortgage