2004 Q4 Summary Financials
BALANCE SHEETS
As of December 31, 2004 and 2003, and April 30, 2003 (In million of Rupiah)
April 30, 2003 April 30, 2003
(after quasi-reorganization)
(after quasi-reorganization) ASSETS
1 C a s h 2,369,196 2,177,056 1,816,952 2,439,465 2,228,671 1,846,539
2 Placements with Bank Indonesia -
a. Current Accounts with Bank Indonesia 15,585,302 11,980,680 9,573,319 15,986,630 12,157,316 9,643,221
b. Certificates of Bank Indonesia 7,631,879 8,408,554 11,177,812 7,956,879 9,203,554 11,490,312
c. Others 5,996,699 3,499,223 - 5,996,699 3,499,223
-3 Current Accounts with Other Banks
a. Rupiah 8,214 1,860 2,078 14,547 7,753 17,402
b. Foreign currencies 582,061 316,516 343,091 642,641 324,305 398,843
4 Placements with Other Banks
a. Rupiah 3,465,699 240,169 270,168 3,573,299 351,869 455,653
b. Foreign currencies 4,338,769 6,528,421 6,671,008 4,701,318 6,355,518 6,634,224
Allowance for possible losses on placements with other banks (-/-) (95,439) (67,262) (72,864) (97,815) (68,052) (73,933) 5 Securities
a. Rupiah
i. Trading 19,119 60,175 - 190,801 324,885 4,237
ii. Available-for-sale 1,392,014 778,091 189,378 1,822,736 1,035,161 219,378
iii. Held-to-maturity 1,235,334 1,252,971 1,277,271 1,340,475 1,275,508 1,310,126
b. Foreign currencies
i. Trading 131,879 - 151,006 198,536 50,536 151,006
ii. Available-for-sale 345,371 338,061 458,714 345,371 345,344 458,714
iii. Held-to-maturity 2,053,553 1,981,675 1,959,627 2,554,008 2,580,521 2,334,190
Allowance for possible losses on securities (-/-) (1,899,765) (1,802,603) (1,833,187) (1,904,077) (1,803,381) (1,834,524) 6 Government Recapitalization Bonds
a. Trading 1,390,953 1,262,729 9,312,896 1,579,834 1,388,448 9,312,896
b. Available-for-Sale 27,584,037 51,437,351 35,625,964 27,584,037 51,437,351 35,625,964
c. Held-to-maturity 63,917,150 70,081,054 105,393,520 63,917,150 70,081,054 105,393,520
7 Securities Purchased with Agreements to Resell (reverse repo)
a. Rupiah 480,000 - - 708,134 -
b. Foreign currencies - - -
Allowance for possible losses on securities purchased with agreements to resell (reverse repo) (-/-) (4,800) - - (4,800) -
-8 Derivative Receivables 288,124 1,034,290 419,841 288,137 1,050,134 421,959
Allowance for possible losses on derivative receivables (-/-) (2,881) (10,343) (4,198) (2,881) (10,343) (4,198)
9 Loans
a. Rupiah
i Related parties 357,497 510,391 496,916 360,156 511,562 496,990
ii Third parties 56,469,874 45,666,810 39,961,150 61,265,753 47,681,608 41,245,530
b. Foreign currencies
i Related parties 481,510 406,535 418,348 592,121 508,340 521,641
ii Third parties 31,235,722 26,726,982 26,742,088 32,184,535 27,241,110 27,139,752
Allowance for possible losses on loans (-/-) (8,532,722) (9,045,968) (10,025,120) (8,635,664) (9,099,956) (10,083,026)
10 Acceptances Receivables 5,234,859 3,264,872 2,783,898 5,241,388 3,264,872 2,791,637
Allowance for possible losses on acceptances receivables (-/-) (147,286) (148,762) (103,404) (147,286) (148,762) (103,404)
11 Other Receivables - trade transactions 2,063,651 1,491,731 613,987 2,063,651 1,491,731 613,987
Allowance for possible losses on other receivables -trade transactions (-/-) (124,472) (85,309) (40,802) (124,472) (85,309) (40,802)
12 Investments in Shares of Stock 1,945,448 1,820,895 1,788,293 86,994 102,415 149,904
Allowance for possible losses on investments in shares of stock (-/-) (78,145) (89,693) (27,633) (78,145) (89,693) (27,633)
13 Accrued Income 1,136,242 1,630,037 3,219,538 1,145,139 1,634,516 3,232,512
14 Prepaid Expenses 304,760 230,533 268,494 338,279 257,639 289,068
15 Prepaid Taxes 43 833 363,434 63 16,559 366,724
16 Deferred Tax Assets 2,248,600 2,336,670 2,922,870 2,252,144 2,338,107 2,923,968
17 Premises and Equipment 7,377,299 6,906,294 3,410,314 7,744,050 7,208,094 3,685,787
Accumulated depreciation on premises and equipment (-/-) (2,106,941) (1,684,776) (1,488,487) (2,309,212) (1,851,259) (1,642,699)
18 Leased Assets 37,550 37,550 - 81,528 37,550
Accumulated depreciation on leased assets (-/-) (17,524) (10,013) - (32,738) (10,013)
-19 Repossessed Collateral 118,173 119,452 72,362 148,840 145,338 77,479
20 Other Assets 5,619,899 6,228,005 5,679,048 6,147,579 6,465,730 5,842,965
TOTAL ASSETS 240,436,505 245,811,737 259,787,690 248,155,827 249,435,554 261,285,909
Description
No. December 31,
2004
December 31, 2003 Bank
December 31, 2004
December 31, 2003 Consolidated
(2)
BALANCE SHEETS
As of December 31, 2004 and 2003, and April 30, 2003 (In million of Rupiah)
Bank Consolidated
April 30, 2003 April 30, 2003
(after quasi-reorganization)
(after quasi-reorganization) LIABILITIES AND SHAREHOLDERS' EQUITY
1 Demand Deposits
a. Rupiah 28,022,552 28,768,628 24,650,827 28,904,192 29,007,415 24,760,342
b. Foreign currencies 11,915,886 9,122,797 8,587,278 12,179,138 9,224,241 8,707,377
2 Liabilities Immediately Payable 712,534 1,068,807 619,723 742,102 1,090,392 659,125
3 Savings Deposits 51,997,125 40,554,735 29,681,284 53,533,402 41,307,433 30,130,336
4 Time Deposits
a. Rupiah
i Related parties 232,577 351,221 2,342,995 33,475 188,388 1,785,746
ii Third parties 66,219,377 80,100,084 102,114,291 68,852,497 81,559,551 102,851,708
b. Foreign currencies
i Related parties 15,780 178,377 54,192 2,522 166,102 27,930
ii Third parties 11,591,066 17,082,351 18,708,347 12,333,120 17,357,624 18,960,959
5 Certificates of Deposit
a. Rupiah 25 36 119 25 36 119
b. Foreign currencies - - -
-6 Deposits from Other Banks 11,467,217 11,511,285 13,741,764 12,039,195 11,676,520 13,790,831
7 Securities Sold with Agreements to Repurchase (repo) 2,911,622 4,342,500 735,000 2,913,632 4,405,677 735,000
8 Derivative Payables 66,955 22,312 10,621 66,968 23,777 13,128
9 Acceptances Payable 5,234,859 3,264,872 2,783,898 5,241,388 3,264,872 2,791,637
10 Securities Issued
a. Rupiah 907,260 489,179 263,809 1,107,260 689,181 263,808
b. Foreign currencies 2,907,994 3,707,704 3,855,089 2,886,720 3,623,431 3,790,069
11 Fund Borrowings
a. Funding Facilities from Bank Indonesia - - - b. Others
i. Rupiah
- Related parties - - -
- Third parties 1,797,006 2,467,675 3,321,331 1,987,006 2,617,675 3,321,331
ii. Foreign currencies
- Related parties - - -
- Third parties 5,033,062 5,917,494 9,336,948 5,079,487 5,917,494 9,336,948
12 Estimated Losses on Commitments and Contingencies 561,872 571,492 1,488,299 565,898 572,267 1,488,315
13 Obligations under Capital Leases 1,569 10,983 - 1,569 11,624 397
14 Accrued Expenses 681,942 484,216 953,623 729,753 517,338 974,474
15 Taxes Payable 242,330 387,292 865,398 300,299 400,622 875,792
16 Deferred Tax Liabilities - - - 2,327 -
-17 Other Liabilities 5,022,010 7,062,237 9,635,689 5,645,921 7,404,337 9,905,649
18 Subordinated Loans
a. Related parties - - -
b. Third parties 6,784,206 5,086,484 5,869,077 6,816,206 5,118,484 5,901,077
19 Loan Capital
a. Related parties - - -
b. Third parties 1,253,475 2,892,375 2,926,193 1,253,475 2,892,375 2,926,193
20 Minority Interests in Net Assets of Consolidated Subsidiaries - - - 3,543 3,473 3,238 21 Shareholders' Equity
a. Share Capital 10,066,427 10,000,000 4,251,000 10,066,427 10,000,000 4,251,000
b. Additional Paid-in Capital /Agio 5,967,897 5,926,418 10,675,418 5,967,897 5,926,418 10,675,418
c. Share Options 13,831 9,897 - 13,831 9,897
d. Differences Arising from Translation of Foreign Currency Financial Statements 3,839 16,092 16,267 72,554 34,462 48,498 e. Premises and Equipment Revaluation Increment 3,046,936 3,046,936 - 3,056,724 3,056,724 9,788 f. Unrealized Gain (Losses) on Available-for-Sale Securities and Government Recapitalization Bonds (404,001) (1,861,316) 1,299,210 (404,001) (1,860,850) 1,299,676 g. Retained Earnings (accumulated losses of Rp162,874,901 million have been eliminated against
additional paid-in capital/agio due to quazi-reorganization as of April 30, 2003) 6,161,275 3,228,574 1,000,000 6,161,275 3,228,574 1,000,000
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 240,436,505 245,811,737 259,787,690 248,155,827 249,435,554 261,285,909
No. Description December 31,
2004
December 31, 2003
December 31, 2004
December 31, 2003
(3)
STATEMENTS OF PROFIT AND LOSS
For the periods from January 1 to December 31, 2004 and 2003, May 1, to December 31, 2003 and January 1, to April 30, 2003
(In million of Rupiah)
(for comparative purposes) (for comparative purposes) INCOME AND EXPENSES FROM OPERATIONS
1 Interest Income
1.1. Interest Income
a. Rupiah 15,612,753 22,625,256 14,150,443 8,474,813 16,278,925 22,937,629 14,407,605 8,530,024 b. Foreign currencies 2,296,552 2,071,060 1,275,811 795,249 2,358,851 2,124,366 1,312,596 811,770 1.2. Fees and Commissions on Loan Facilities
a. Rupiah 398,204 380,191 241,761 138,430 398,204 404,649 255,158 149,491 b. Foreign currencies 79,455 90,290 70,248 20,042 109,190 90,411 62,424 27,987
TOTAL INTEREST INCOME 18,386,964 25,166,797 15,738,263 9,428,534 19,145,170 25,557,055 16,037,783 9,519,272 2 Interest Expense
2.1. Interest Expense
a. Rupiah 8,629,420 16,122,298 9,508,881 6,613,417 8,922,258 16,257,975 9,620,549 6,637,426 b. Foreign currencies 730,961 1,279,417 810,889 468,528 757,144 1,292,273 818,777 473,496 2.2. Other Financing Expenses - - -
-TOTAL INTEREST EXPENSE (-/-) 9,360,381 17,401,715 10,319,770 7,081,945 9,679,402 17,550,248 10,439,326 7,110,922 NET INTEREST INCOME 9,026,583 7,765,082 5,418,493 2,346,589 9,465,768 8,006,807 5,598,457 2,408,350 3 Other Operating Income
3.1. Other Fees and Commissions 1,257,780 830,081 637,181 192,900 1,360,382 923,891 727,121 196,770 3.2. Foreign Exchange Gain *) 398,363 110,178 30,297 79,881 402,038 113,750 33,206 80,544 3.3. a. Gain from sale of Securities and Government Recapitalization Bonds **) 1,522,367 2,123,438 1,799,016 324,422 1,584,235 2,123,438 1,799,016 324,422 b. Gain from Increase in Value of Securities and Government Recapitalization Bonds **) 66,300 - - 717,298 66,272 - - 717,298 3.4. Others 706,958 664,672 510,566 154,106 702,317 635,952 465,530 170,422
TOTAL OTHER OPERATING INCOME 3,951,768 3,728,369 2,977,060 1,468,607 4,115,244 3,797,031 3,024,873 1,489,456 4 Provision for Possible Losses on Earning Assets 309,473 1,164,124 629,773 534,351 371,517 1,179,414 645,063 534,351
5 Addition of Estimated Losses on Commitments and Contingencies (41,170) (641,780) (847,097) 205,317 (37,923) (641,113) (846,430) 205,317
6 Provision for Possible Losses on Other Assets (309,172) (320,737) (203,375) (117,362) (309,172) (320,737) (203,375) (117,362)
7 Other Operating Expenses
7.1. General and Administrative Expenses 2,727,435 2,080,767 1,581,434 499,333 2,988,672 2,249,542 1,706,621 542,921 7.2. Salaries and Employee Benefits 2,206,887 1,532,053 956,736 575,317 2,401,757 1,664,950 1,052,113 612,837 7.3. a. Losses from sale of Securities and Government Recapitalization Bonds **) - - - b. Losses from Decrease in Value of Securities and Government Recapitalization Bonds **) - 50,942 768,240 - - 50,942 768,240 -7.4. Foreign Exchange Loss *) - - - 7.5. Others 622,771 797,083 500,487 296,596 645,562 807,278 502,483 304,795
TOTAL OTHER OPERATING EXPENSES - / - 5,557,093 4,460,845 3,806,897 1,371,246 6,035,991 4,772,712 4,029,457 1,460,553 PROFIT FROM OPERATIONS 7,462,127 6,830,999 5,009,355 1,821,644 7,520,599 6,813,562 4,998,615 1,814,947 NON-OPERATING INCOME AND EXPENSES
8 Non-Operating Income 107,434 302,579 104,902 197,677 150,153 329,909 116,361 213,548 9 Non-Operating Expenses 139,863 110,240 (14,658) 124,898 145,750 111,947 (19,631) 131,578
NON OPERATING INCOME - NET (32,429) 192,339 119,560 72,779 4,403 217,962 135,992 81,970
10 Extraordinary Income/(Expenses) - - -
-11 PROFIT BEFORE CORPORATE INCOME TAX EXPENSE AND MINORITY INTERESTS 7,429,698 7,023,338 5,128,915 1,894,423 7,525,002 7,031,524 5,134,607 1,896,917 12 Corporate Income Tax Expense /
-- Current 2,085,997 2,179,540 1,314,142 865,398 2,181,011 2,188,877 1,319,937 868,940 - Deferred 88,070 257,709 586,199 (328,490) 88,290 256,581 585,861 (329,280)
13 PROFIT BEFORE MINORITY INTERESTS 5,255,631 4,586,089 3,228,574 1,357,515 5,255,701 4,586,066 3,228,809 1,357,257
14 Minority Interests in Net Profit of Consolidated Subsidiaries - - - - (70) 23 (235) 258 15 Retained earnings (accumulated losses) at beginning of period 3,228,574 (161,302,575) 1,000,000 (161,302,575) 3,228,574 (161,302,575) 1,000,000 (161,302,575) 16 Conversion of Appropriated Retained Earnings to Share Capital - (1,000,000) (1,000,000) - - (1,000,000) (1,000,000) -17 a. Dividend (2,300,000) (1,792,794) - (1,792,794) (2,300,000) (1,792,794) - (1,792,794)
b. Others (22,930) (137,047) - (137,047) (22,930) (137,047) - (137,047)
18 RETAINED EARNINGS (ACCUMULATED LOSSES) AT END OF PERIOD 6,161,275 (159,646,327) 3,228,574 (161,874,901) 6,161,275 (159,646,327) 3,228,574 (161,874,901) 19 Accumulated Losses off-set against additional paid-in capital/agio
arising from quazi-reorganization as of April 30, 2003 - 162,874,901 - 162,874,901 - 162,874,901 - 162,874,901
20 RETAINED EARNINGS 6,161,275 3,228,574 3,228,574 1,000,000 6,161,275 3,228,574 3,228,574 1,000,000 21 EARNINGS PER SHARE (In Rupiah Full Amount)
- Basic - - - - 262.15 229.30 161.43 67.88 - Diluted - - - - 259.82 228.64 160.96 67.68 *) Presented as net of gain (losses) from foreign exchange transactions.
**) Presented as a net of gain (losses) from increase (decrease) in value of securities and Government Recapitalization Bonds
May 1 to December 31, 2003
January 1 to April 30, 2003
Description May 1 to
December 31, 2003 January 1 to
December 31, 2003
January 1 to December 31, 2004 January 1 to
December 31, 2004
January 1 to December 31, 2003 January 1 to April
30, 2003
(4)
COMMITMENTS Commitment Receivables
1 Unused fund borrowing facilities
a. Rupiah - - 4,638 - - 4,638 b. Foreign currencies - - - -2 Others - 34,399 28,688 - 34,399 28,688
Total Commitment Receivables - 34,399 33,326 - 34,399 33,326 Commitment Payables
1 Unused loan facilities
a. Rupiah 16,809,774 13,437,980 7,980,659 16,818,918 13,467,207 7,992,112 b. Foreign currencies 3,038,117 3,556,260 2,254,386 3,038,117 3,558,618 2,255,080 2 Outstanding irrevocable letters of credit 6,305,401 4,961,917 5,066,392 6,486,555 5,172,509 5,242,668 3 Others - - 108,302 - - 108,302
Total Commitment Payables 26,153,292 21,956,157 15,409,739 26,343,590 22,198,334 15,598,162 COMMITMENT PAYABLES - NET (26,153,292) (21,921,758) (15,376,413) (26,343,590) (22,163,935) (15,564,836) CONTINGENCIES
Contingent Receivables
1 Guarantees received
a. Rupiah 156,492 497,369 102,186 156,492 497,369 102,186 b. Foreign currencies 2,370,087 880,804 1,042,429 2,406,483 930,722 1,114,869 2 Interest receivables on non-performing assets
a. Rupiah 1,278,205 1,459,447 1,626,992 1,278,205 1,459,447 1,626,992 b. Foreign currencies 645,036 645,013 1,123,997 645,036 645,013 1,123,997 3 Others 32,970 37,430 29,910 32,970 37,430 29,910
Total Contingent Receivables 4,482,790 3,520,063 3,925,514 4,519,186 3,569,981 3,997,954 Contingent Payables
1 Guarantees issued a. Bank guarantees
- Rupiah 3,160,747 2,515,670 2,071,949 3,215,858 2,538,293 2,072,590 - Foreign currencies 7,171,332 5,339,738 4,971,990 7,251,030 5,389,506 4,982,424 b. Others - - 429 - - 963 2 Outstanding revocable letters of credit - - 1,580 - - 1,580 3 Others 83,597 2,560 160,787 85,640 57,498 163,219
Total Contingent Payables 10,415,676 7,857,968 7,206,735 10,552,528 7,985,297 7,220,776 CONTINGENT PAYABLES - NET (5,932,886) (4,337,905) (3,281,221) (6,033,342) (4,415,316) (3,222,822)
BOARDS OF COMMISSIONERS AND DIRECTORS AS OF DECEMBER 31, 2004 Jakarta, February , 2005
Board of Commissioners
- Chairman : Binhadi S. E & O
- Deputy Chairman Board of Directors
& Independent Commissioner : Markus Parmadi
- Commissioner : Darmin Nasution PT Bank Mandiri (Persero) Tbk.
- Commissioner : Arie Soelendro - Commissioner : Fransiska Oei - Independent Commissioner : A. Tony Prasetiantono - Independent Commissioner : Riswinandi
Board of Directors
- President Director : E.C.W. Neloe - Deputy President Director : I Wayan Pugeg
- Director : I Wayan Agus Mertayasa E.C.W. Neloe I Wayan Pugeg
- Director : M. Sholeh Tasripan President Director Deputy President Directo - Director : Omar Sjawaldy Anwar
- Director : Ventje Rahardjo - Director : Nimrod Sitorus *) - Director : J.B. Kendarto - Director : Zulkifli Zaini
*) Acting as Compliance Director and Corporate Secretary Notes :
1. The above financial information have been prepared for the purpose of complying with Bank Indonesia’s Regulation No. 3/22/PBI/2001 dated December 13, 2001 regarding Transparency of Banks’ Financial Condition, Bank Indonesia’s Circular Letter No. 3/30/DPNP dated December 14, 2001 regarding Presentation of Quarterly and Monthly Published Financial Statements
of Commercial Banks and Certain Report Submitted to Bank Indonesia, Bank Indonesia Regulation No. 4/7/PBI/2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit by Commercial Bank from the Indonesian Bank Restructuring Agency (IBRA), Bank Indonesia's Letter No. 5/559/DPNP/IDPnP dated December 24, 2003 regarding Bank's Published Financial Statements and Rule No. X.K.2 Decision of the Chairman of Bapepam Attachment No. Kep-36/PM/2003 dated September 30, 2003regarding Obligation to Submit Periodic Financial Statements.
2. The above financial information as of and for the year ended December 31, 2004, as of and for the eight-month period ended December 31, 2003,
and as of and for the four-month period ended April 30, 2003 (after quazi-reorganization) are derived from consolidated financial statements that have been audited by
Public Accounting Firm Prasetio, Sarwoko & Sandjaja, a member of Ernst & Young Global (Partner In-Charge: Drs. Sandjaja) in their report No. RPC-3347 dated February 18, 2005, with "unqualified opinion". 3. Quasi-reorganization was effective as of April 30, 2003 based on the Resolution of the Extraordinary General Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk. dated October 30, 2003.
The accumulated losses of Rp162,874,901 million was eliminated against additional paid-in capital/agio at quasi reorganization as of April 30, 2003.
4. For comparative purposes, certain accounts in the financial information as of and for the four-month period ended April 30, 2003 (after quasi reorganization) and
as of and for the eight-month period ended December 31, 2003 , have been reclassified to conform with the presentation of accounts in the financial information as of and for the year ended December 31, 2004. 5. Exchange rate of 1 US Dollar as of December 31, 2004 and 2003, and April 30, 2003 was Rp 9,285, Rp 8,425 and Rp 8,675.50, respectively.
6. Basic and diluted earnings per share are calculated by dividing the net profit with the weighted average number of shares issued and fully paid during the period, after considering the effects of the conversion of stock options.
April 30, 2003 STATEMENTS OF COMMITMENTS AND CONTINGENCIES
As of December 31, 2004 and 2003
(In million of Rupiah)
April 30, 2003 December 31,
2003
Public : 30.46%
December 31, 2003 December 31,
2004
No Description
Consolidated Bank
December 31, 2004
SHAREHOLDERS
Republic of Indonesia : 69.54% (Ultimate Shareholder)
(5)
SPECIAL SUB- SPECIAL
SUB-MENTION STANDARD MENTION STANDARD
A Related Parties 1
Placements with other banks 229,703 - - - - 229,703 377,303 - - - - 377,303 2
Securities Held (issued by related parties) *) 93,204,383 - - - - 93,204,383 123,169,307 - - - - 123,169,307 3
Loans to related parties 680,343 123 158,541 - - 839,007 544,877 236 - 371,802 11 916,926
a. Small scale business credit (KUK) - - - - - - - - - - -
-b. Property Loans 31,351 28 - - - 31,379 30,102 134 - - 11 30,247
i. Restructured 15,625 - - - - 15,625 18,850 - - - - 18,850
ii. Unrestructured 15,726 28 - - - 15,754 11,252 134 - - 11 11,397 c. Other restructured loans 157,261 - 148,793 - - 306,054 205,347 - - 371,802 - 577,149
d. Others 491,731 95 9,748 - - 501,574 309,428 102 - - - 309,530
4
Investments in shares of stock of related parties 1,862,709 - - - 5,159 1,867,868 1,728,331 - - - 7,114 1,735,445 a. In bank financial institutions 1,029,467 - - - - 1,029,467 915,346 - - - - 915,346 b. In non-bank financial institutions 709,258 - - - 5,159 714,417 690,916 - - - 7,114 698,030 c. Due to loan restructuring - - - - - - - - -
-d. Others 123,984 - - - - 123,984 122,069 - - - - 122,069
5
Other receivables from related parties - - - - - - - - - -6
Commitments and contingencies to related parties - - - - - - - - -
-B Third Parties 1
Placements with other banks 14,148,068 - - - 13,671 14,161,739 10,208,718 - - - 168 10,208,886
2
Securities Held (issued by Bank Indonesia and third parties) 10,627,093 - - - 1,869,813 12,496,906 10,649,821 - - - 1,781,533 12,431,354 3
Loans to third parties 72,954,766 8,333,778 2,141,959 417,511 3,857,582 87,705,596 55,304,129 1,635,09610,982,322 1,060,835 3,411,410 72,393,792
a. Small scale business credit (KUK) 3,227,794 367,749 106,783 44,553 169,326 3,916,205 2,326,000 376,435 137,449 45,358 338,590 3,223,832
b. Property Loans 2,347,261 886,323 2,209 276 83,552 3,319,621 1,496,492 1,077,893 5,945 3,138 160,915 2,744,383
i. Restructured 256,781 681,422 - - - 938,203 329,734 807,584 297 - 51,179 1,188,794
ii. Unrestructured 2,090,480 204,901 2,209 276 83,552 2,381,418 1,166,758 270,309 5,648 3,138 109,736 1,555,589
c. Other restructured loans 13,563,956 4,257,951 839,774 47,529 491,080 19,200,290 13,834,921 5,921,135 1,001,039 739,197 112,635 21,608,927
d. Others 53,815,755 2,821,755 1,193,193 325,153 3,113,624 61,269,480 37,646,716 3,606,859 490,663 273,142 2,799,270 44,816,650
4
Investments in shares of stock of third parties 3,000 - 1,955 - 72,625 77,580 3,000 - - - 82,450 85,450 a. In bank financial institutions - - - - - - - - - -b. In non bank financial institutions - - - - 3,000 - - - - 3,000 c. Due to loan restructuring - - - - 72,625 72,625 - - - - 82,450 82,450
d. Others 3,000 - 1,955 - - 4,955 - - - - -
-5
Other receivables from third parties 7,207,650 816,689 44,483 - - 8,068,822 5,415,810 335,427 - 39,656 - 5,790,893 6
Commitments and contingencies to third parties 16,354,264 273,984 9,232 - - 16,637,480 12,336,076 375,113 50,008 25,391 30,737 12,817,325 217,271,979
9,424,574 2,356,170 417,511 5,818,850 235,289,084 219,737,372 1,685,10411,693,098 1,497,684 5,313,423 239,926,681 7 Required allowance for losses on earning assets **) 1,463,396 1,003,252 392,984 209,326 5,548,315 8,617,273 1,136,983 1,181,463 256,903 764,697 5,039,343 8,379,389 8 Established allowance for losses on earning assets 2,431,259 1,887,936 1,162,362 417,510 5,548,315 11,447,382 2,360,935 2,274,412 801,009 1,345,732 5,039,343 11,821,431 9 Value of bank's assets pledge as collateral:
a. To Bank Indonesia -
-b. To other banks -
-10 Percentage of small scale business credit to total loans 4.42% 4.40%
11 Percentage of small scale business credit debtors to total debtors 35.53% 33.99%
*)Include Government Bond (recapitalization program)
**)The calculation of allowance for possible losses on earning assets should be provided on the principal after deducted by collaterals. No allowance for possible losses is required for Certificates of Bank Indonesia, placements with Bank Indonesia, Bank Indonesia intervention and Government Recapitalization Bonds.
DECEMBER 31, 2004 DECEMBER 31, 2003
(in million of Rupiah)
EARNING ASSETS QUALITY AND OTHER INFORMATION As of December 31, 2004 and 2003
No Account
Bank
Total CURRENT DOUBTFUL LOSS Total
TOTAL
(6)
Contract Value with
Hedging
Others
Receivable
Payable
Netting Agreement
A. Exchange Rate Related
1
Spot
-
38,278
-
-
-2
Forward
-
463,570
9,416
9,776
-3
Option
a. Purchased
-
-
279
127
-b. Written
-
-
229
210
-4
Future
-
-
-
-
-5
Swap
-
2,238,990
253,149
32,627
-6
Others
-
-
-
-
-B Interest Rate Related
1
Forward
-
-
-
-
-2
Option
a. Purchased
-
-
-
-
-b. Written
-
-
-
-
-3
Future
-
-
-
-
-4
Swap
24,215
25,051
25,051
24,215
-5
Others
-
-
-
-
-C Others
-
-
-
-
-TOTAL
288,124
66,955
FOREIGN EXCHANGE TRANSACTIONS AND DERIVATIVES
As of December 31, 2004
Bank
(in million of Rupiah)
Contract Market Value
Derivative Receivable and Payable
(7)
I.
Capital
1.
CAR
25.28%
27.72%
2.
Premises and Equipment to Capital *)
19.21%
20.61%
II.
Earning Assets
1.
Non-Performing Earning Assets
3.65%
3.54%
2.
NPL:
- Gross NPL
7.43%
8.84%
- Net NPL
1.62%
1.75%
3.
Allowance for Possible Losses on Earning Assets
4.87%
4.93%
4.
Compliance for Allowance for Possible Losses on Earning Assets
132.84%
141.08%
III. Rentability
1.
ROA
3.19%
2.78%
2.
ROE
26.42%
27.53%
3.
NIM
4.38%
3.42%
4.
Operating Expenses to Operating Income **)
66.60%
76.36%
IV. Liquidity
LDR
51.84%
41.54%
V.
Compliance
1.
a. Percentage Violation of Legal Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-b. Percentage of Lending in Excess of the Legal
Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-2
Reserve Requirement (Rupiah)
9.08%
6.65%
3
Net Open Position ***)
3.32%
2.86%
4
Net Open Position on Balance Sheet ****)
2.01%
-*) Premises and equipment are computed after deducted by accumulated depreciation.
**) Operating expenses include interest expenses, provision for possible losses on earning assets, provision for
possible losses on other assets divided by operating income which includes interest income.
***) Net Open Position calculation includes balance sheet and off-balance sheet accounts.
****) Net Open Position is calculated with balance sheet accounts only since 2004 in accordance with
Bank Indonesia Regulation No. 6/20/PBI/2004 dated July 15, 2004 regarding "The Amendment Bank Indonesia Regulation
No. 5/13/PBI/2003 Concerning Net Open Position For Commercial Banks".
FINANCIAL RATIOS
December 31, 2004 and 2003
Bank
KEY RATIOS (%)
NO
December 31,
2004
December 31,
2003
(8)
I. COMPONENTS
A. Core Capital
20,214,560
17,859,230
1. Paid-Up Capital
10,066,427
10,000,000
2. Disclosed Reserves
a. Agio
5,967,897
5,926,418
b. Disagio (-/-)
-
-c. Share Options
13,831
9,897
d. Donated Capital/Additional Paid-in Capital
-
-e. General and Appropriated Reserves
747,000
-f. Previous Years Profit After Tax
743,715
-g. Previous Years Losses (-/-)
-
-h. Current Year Profit After Tax (50%)
2,671,851
1,906,823
i. Current Year Losses (-/-)
-
-j. Differences Arising from Translation of Financial Statements
in Foreign Currencies
1) Positive Adjustment
3,839
16,092
2) Negative Adjustment (-/-)
-
-k. Funds for Paid-Up Capital
-
-l. Decline in Value of Equity Participation in Available-for-Sale Portfolio (-/-)
-
-m. Differences Arising from Restructuring of Transactions among Entities
under Common Control
-
3. Goodwill (-/-)
-
B. Supplemental Capital
9,189,588
9,342,931
(Max 100% of core capital)
1. Reserve for Premises and Equipment Revaluation
3,046,936
3,046,936
2. General Reserves of Allowance for Possible Losses on Earning Assets
(max 1.25% of risk weighted assets)
1,361,685
1,136,983
3. Loan Capital
125,347
1,902,859
4. Subordinated Loans (max 50% of core capital)
4,655,620
3,256,153
5. Increase in Value of Equity Participation in Available-for-Sale Portfolio (45%)
-
-II. TOTAL CORE CAPITAL AND SUPPLEMENTAL CAPITAL (A+B)
29,404,148
27,202,161
III. INVESTMENTS IN SHARES OF STOCK (-/-)
(1,867,664)
(1,738,445)
IV. TOTAL CAPITAL (II-III)
27,536,484
25,463,716
V. RISK WEIGHTED ASSETS
108,934,763
91,855,132
VI. ESTABLISHED CAPITAL ADEQUACY RATIO (IV : V)
25.28%
27.72%
VII. REQUIRED MINIMUM CAPITAL ADEQUACY RATIO
8%
8%
CALCULATION OF CAPITAL ADEQUACY RATIO
As of December 31, 2004 and 2003
Bank
DESCRIPTION
NO
(in million of Rupiah)
December 31,
2004
December 31,
2003
(9)
a. Summary of loans purchased from IBRA
1
Loan principal / outstanding balance as of December 31, 2004
5,075,309
2
Amount of loans purchased from January 1, 2002 - December 31, 2004
5,579,541
3
Total provision for loan losses and deferred income as of December 31, 2004 arising from the
difference between outstanding loans and purchase price
164,964
4
Allowance for possible loan losses as of December 31, 2004
2,262,110
5
Interest income and other income related to loans purchased from IBRA
from January 1, 2004 - December 31, 2004
343,209
b. Summary of movements of loans purchased from IBRA
1
Beginning Balance
5,249,139
2
Foreign currency translation
441,147
3
Additional loans purchased during the period
-4
Repayment during the period
(463,846)
5
Loans written-off during the period
(86,305)
6
Adjustment of deferred income
(64,826)
7
Ending Balance
5,075,309
c. Summary of movements of allowance for possible loan losses derived from the difference between
loan principal and purchase price
1
Beginning Balance
186,972
2
Foreign currency translation
17,739
3
Additional allowance for possible losses on loans purchased from IBRA during the period
-4
Allowance for possible losses for loans written-off
-5
Adjustment of allowance for possible losses
(195,796)
6
Reversal of allowance for possible losses due to excess of repayment over purchase price
(8,915)
7
Ending Balance
-d. Summary of movements of deferred income derived from the difference between loan principal
and purchase price
1
Beginning Balance
209,573
2
Foreign currency translation
14,154
3
Additional deferred income of loans purchased from IBRA during the period
-4
Deferred income for loans written off
(22,106)
5
Adjustment of deferred income
(36,472)
6
Reversal of deferred income due to excess of repayment over purchase price
(185)
7
Ending Balance
164,964
e.
Loans covered by new credit agreements
5,075,309
f.
Additional facility extended to debtors under loans purchased from IBRA
333,755
NO
DESCRIPTION
Amount
DESCRIPTION
Amount
DESCRIPTION
Amount
NO
NO
(Based on Bank Indonesia's Regulation No. 4/7/PBI/2002 dated September 27, 2002 Chapter VI section 24)
LOANS PURCHASED FROM IBRA
January 1 to December 31, 2004
(In million of Rupiah)
(1)
COMMITMENTS Commitment Receivables 1 Unused fund borrowing facilities
a. Rupiah - - 4,638 - - 4,638 b. Foreign currencies - - - -2 Others - 34,399 28,688 - 34,399 28,688
Total Commitment Receivables - 34,399 33,326 - 34,399 33,326
Commitment Payables 1 Unused loan facilities
a. Rupiah 16,809,774 13,437,980 7,980,659 16,818,918 13,467,207 7,992,112 b. Foreign currencies 3,038,117 3,556,260 2,254,386 3,038,117 3,558,618 2,255,080 2 Outstanding irrevocable letters of credit 6,305,401 4,961,917 5,066,392 6,486,555 5,172,509 5,242,668 3 Others - - 108,302 - - 108,302 Total Commitment Payables 26,153,292 21,956,157 15,409,739 26,343,590 22,198,334 15,598,162 COMMITMENT PAYABLES - NET (26,153,292) (21,921,758) (15,376,413) (26,343,590) (22,163,935) (15,564,836)
CONTINGENCIES Contingent Receivables 1 Guarantees received
a. Rupiah 156,492 497,369 102,186 156,492 497,369 102,186 b. Foreign currencies 2,370,087 880,804 1,042,429 2,406,483 930,722 1,114,869 2 Interest receivables on non-performing assets
a. Rupiah 1,278,205 1,459,447 1,626,992 1,278,205 1,459,447 1,626,992 b. Foreign currencies 645,036 645,013 1,123,997 645,036 645,013 1,123,997 3 Others 32,970 37,430 29,910 32,970 37,430 29,910 Total Contingent Receivables 4,482,790 3,520,063 3,925,514 4,519,186 3,569,981 3,997,954
Contingent Payables 1 Guarantees issued
a. Bank guarantees
- Rupiah 3,160,747 2,515,670 2,071,949 3,215,858 2,538,293 2,072,590 - Foreign currencies 7,171,332 5,339,738 4,971,990 7,251,030 5,389,506 4,982,424 b. Others - - 429 - - 963 2 Outstanding revocable letters of credit - - 1,580 - - 1,580 3 Others 83,597 2,560 160,787 85,640 57,498 163,219 Total Contingent Payables 10,415,676 7,857,968 7,206,735 10,552,528 7,985,297 7,220,776 CONTINGENT PAYABLES - NET (5,932,886) (4,337,905) (3,281,221) (6,033,342) (4,415,316) (3,222,822)
BOARDS OF COMMISSIONERS AND DIRECTORS AS OF DECEMBER 31, 2004 Jakarta, February , 2005
Board of Commissioners
- Chairman : Binhadi S. E & O
- Deputy Chairman Board of Directors
& Independent Commissioner : Markus Parmadi
- Commissioner : Darmin Nasution PT Bank Mandiri (Persero) Tbk.
- Commissioner : Arie Soelendro
- Commissioner : Fransiska Oei
- Independent Commissioner : A. Tony Prasetiantono - Independent Commissioner : Riswinandi Board of Directors
- President Director : E.C.W. Neloe - Deputy President Director : I Wayan Pugeg
- Director : I Wayan Agus Mertayasa E.C.W. Neloe I Wayan Pugeg
- Director : M. Sholeh Tasripan President Director Deputy President Directo
- Director : Omar Sjawaldy Anwar
- Director : Ventje Rahardjo
- Director : Nimrod Sitorus *)
- Director : J.B. Kendarto
- Director : Zulkifli Zaini
*) Acting as Compliance Director and Corporate Secretary
Notes :
1. The above financial information have been prepared for the purpose of complying with Bank Indonesia’s Regulation No. 3/22/PBI/2001 dated December 13, 2001 regarding Transparency of Banks’ Financial Condition, Bank Indonesia’s Circular Letter No. 3/30/DPNP dated December 14, 2001 regarding Presentation of Quarterly and Monthly Published Financial Statements
of Commercial Banks and Certain Report Submitted to Bank Indonesia, Bank Indonesia Regulation No. 4/7/PBI/2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit by Commercial Bank from the Indonesian Bank Restructuring Agency (IBRA), Bank Indonesia's Letter No. 5/559/DPNP/IDPnP dated December 24, 2003 regarding Bank's Published Financial Statements
and Rule No. X.K.2 Decision of the Chairman of Bapepam Attachment No. Kep-36/PM/2003 dated September 30, 2003regarding Obligation to Submit Periodic Financial Statements.
2. The above financial information as of and for the year ended December 31, 2004, as of and for the eight-month period ended December 31, 2003,
and as of and for the four-month period ended April 30, 2003 (after quazi-reorganization) are derived from consolidated financial statements that have been audited by
Public Accounting Firm Prasetio, Sarwoko & Sandjaja, a member of Ernst & Young Global (Partner In-Charge: Drs. Sandjaja) in their report No. RPC-3347 dated February 18, 2005, with "unqualified opinion". 3. Quasi-reorganization was effective as of April 30, 2003 based on the Resolution of the Extraordinary General Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk. dated October 30, 2003.
The accumulated losses of Rp162,874,901 million was eliminated against additional paid-in capital/agio at quasi reorganization as of April 30, 2003.
4. For comparative purposes, certain accounts in the financial information as of and for the four-month period ended April 30, 2003 (after quasi reorganization) and
as of and for the eight-month period ended December 31, 2003 , have been reclassified to conform with the presentation of accounts in the financial information as of and for the year ended December 31, 2004. 5. Exchange rate of 1 US Dollar as of December 31, 2004 and 2003, and April 30, 2003 was Rp 9,285, Rp 8,425 and Rp 8,675.50, respectively.
6. Basic and diluted earnings per share are calculated by dividing the net profit with the weighted average number of shares issued and fully paid during the period, after considering the effects of the conversion of stock options.
April 30, 2003 STATEMENTS OF COMMITMENTS AND CONTINGENCIES
As of December 31, 2004 and 2003 (In million of Rupiah)
April 30, 2003 December 31,
2003
Public : 30.46%
December 31, 2003 December 31, 2004 No Description Consolidated Bank December 31, 2004 SHAREHOLDERS
Republic of Indonesia : 69.54% (Ultimate Shareholder)
(2)
SPECIAL SUB- SPECIAL
SUB-MENTION STANDARD MENTION STANDARD
A Related Parties 1
Placements with other banks 229,703 - - - - 229,703 377,303 - - - - 377,303 2
Securities Held (issued by related parties) *) 93,204,383 - - - - 93,204,383 123,169,307 - - - - 123,169,307 3
Loans to related parties 680,343 123 158,541 - - 839,007 544,877 236 - 371,802 11 916,926 a. Small scale business credit (KUK) - - - - - - - - - - - -b. Property Loans 31,351 28 - - - 31,379 30,102 134 - - 11 30,247
i. Restructured 15,625 - - - - 15,625 18,850 - - - - 18,850 ii. Unrestructured 15,726 28 - - - 15,754 11,252 134 - - 11 11,397 c. Other restructured loans 157,261 - 148,793 - - 306,054 205,347 - - 371,802 - 577,149 d. Others 491,731 95 9,748 - - 501,574 309,428 102 - - - 309,530 4
Investments in shares of stock of related parties 1,862,709 - - - 5,159 1,867,868 1,728,331 - - - 7,114 1,735,445 a. In bank financial institutions 1,029,467 - - - - 1,029,467 915,346 - - - - 915,346 b. In non-bank financial institutions 709,258 - - - 5,159 714,417 690,916 - - - 7,114 698,030 c. Due to loan restructuring - - - - - - - - - -d. Others 123,984 - - - - 123,984 122,069 - - - - 122,069 5
Other receivables from related parties - - - - - - - - - -6
Commitments and contingencies to related parties - - - - - - - - -
-B Third Parties 1
Placements with other banks 14,148,068 - - - 13,671 14,161,739 10,208,718 - - - 168 10,208,886 2
Securities Held (issued by Bank Indonesia and third parties) 10,627,093 - - - 1,869,813 12,496,906 10,649,821 - - - 1,781,533 12,431,354 3
Loans to third parties 72,954,766 8,333,778 2,141,959 417,511 3,857,582 87,705,596 55,304,129 1,635,09610,982,322 1,060,835 3,411,410 72,393,792 a. Small scale business credit (KUK) 3,227,794 367,749 106,783 44,553 169,326 3,916,205 2,326,000 376,435 137,449 45,358 338,590 3,223,832 b. Property Loans 2,347,261 886,323 2,209 276 83,552 3,319,621 1,496,492 1,077,893 5,945 3,138 160,915 2,744,383 i. Restructured 256,781 681,422 - - - 938,203 329,734 807,584 297 - 51,179 1,188,794 ii. Unrestructured 2,090,480 204,901 2,209 276 83,552 2,381,418 1,166,758 270,309 5,648 3,138 109,736 1,555,589 c. Other restructured loans 13,563,956 4,257,951 839,774 47,529 491,080 19,200,290 13,834,921 5,921,135 1,001,039 739,197 112,635 21,608,927 d. Others 53,815,755 2,821,755 1,193,193 325,153 3,113,624 61,269,480 37,646,716 3,606,859 490,663 273,142 2,799,270 44,816,650 4
Investments in shares of stock of third parties 3,000 - 1,955 - 72,625 77,580 3,000 - - - 82,450 85,450 a. In bank financial institutions - - - - - - - - - -b. In non bank financial institutions - - - - 3,000 - - - - 3,000 c. Due to loan restructuring - - - - 72,625 72,625 - - - - 82,450 82,450 d. Others 3,000 - 1,955 - - 4,955 - - - - - -5
Other receivables from third parties 7,207,650 816,689 44,483 - - 8,068,822 5,415,810 335,427 - 39,656 - 5,790,893 6
Commitments and contingencies to third parties 16,354,264 273,984 9,232 - - 16,637,480 12,336,076 375,113 50,008 25,391 30,737 12,817,325 217,271,979
9,424,574 2,356,170 417,511 5,818,850 235,289,084 219,737,372 1,685,10411,693,098 1,497,684 5,313,423 239,926,681 7 Required allowance for losses on earning assets **) 1,463,396 1,003,252 392,984 209,326 5,548,315 8,617,273 1,136,983 1,181,463 256,903 764,697 5,039,343 8,379,389 8 Established allowance for losses on earning assets 2,431,259 1,887,936 1,162,362 417,510 5,548,315 11,447,382 2,360,935 2,274,412 801,009 1,345,732 5,039,343 11,821,431 9 Value of bank's assets pledge as collateral:
a. To Bank Indonesia -
-b. To other banks -
-10 Percentage of small scale business credit to total loans 4.42% 4.40%
11 Percentage of small scale business credit debtors to total debtors 35.53% 33.99%
*)Include Government Bond (recapitalization program)
**)The calculation of allowance for possible losses on earning assets should be provided on the principal after deducted by collaterals. No allowance for possible losses is required for Certificates of Bank Indonesia, placements with Bank Indonesia, Bank Indonesia intervention and Government Recapitalization Bonds.
DECEMBER 31, 2004 DECEMBER 31, 2003
(in million of Rupiah)
EARNING ASSETS QUALITY AND OTHER INFORMATION As of December 31, 2004 and 2003
No Account
Bank
Total CURRENT DOUBTFUL LOSS Total
TOTAL
(3)
Contract Value with
Hedging
Others
Receivable
Payable
Netting Agreement
A. Exchange Rate Related
1
Spot
-
38,278
-
-
-2
Forward
-
463,570
9,416
9,776
-3
Option
a. Purchased
-
-
279
127
-b. Written
-
-
229
210
-4
Future
-
-
-
-
-5
Swap
-
2,238,990
253,149
32,627
-6
Others
-
-
-
-
-B Interest Rate Related
1
Forward
-
-
-
-
-2
Option
a. Purchased
-
-
-
-
-b. Written
-
-
-
-
-3
Future
-
-
-
-
-4
Swap
24,215
25,051
25,051
24,215
-5
Others
-
-
-
-
-C Others
-
-
-
-
-TOTAL
288,124
66,955
FOREIGN EXCHANGE TRANSACTIONS AND DERIVATIVES
As of December 31, 2004
Bank
(in million of Rupiah)
Contract Market Value
Derivative Receivable and Payable
(4)
I.
Capital
1.
CAR
25.28%
27.72%
2.
Premises and Equipment to Capital *)
19.21%
20.61%
II.
Earning Assets
1.
Non-Performing Earning Assets
3.65%
3.54%
2.
NPL:
- Gross NPL
7.43%
8.84%
- Net NPL
1.62%
1.75%
3.
Allowance for Possible Losses on Earning Assets
4.87%
4.93%
4.
Compliance for Allowance for Possible Losses on Earning Assets
132.84%
141.08%
III. Rentability
1.
ROA
3.19%
2.78%
2.
ROE
26.42%
27.53%
3.
NIM
4.38%
3.42%
4.
Operating Expenses to Operating Income **)
66.60%
76.36%
IV. Liquidity
LDR
51.84%
41.54%
V.
Compliance
1.
a. Percentage Violation of Legal Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-b. Percentage of Lending in Excess of the Legal
Lending Limit
a.1. Related Parties
-
a.2. Third Parties
-
-2
Reserve Requirement (Rupiah)
9.08%
6.65%
3
Net Open Position ***)
3.32%
2.86%
4
Net Open Position on Balance Sheet ****)
2.01%
-*) Premises and equipment are computed after deducted by accumulated depreciation.
**) Operating expenses include interest expenses, provision for possible losses on earning assets, provision for
possible losses on other assets divided by operating income which includes interest income.
***) Net Open Position calculation includes balance sheet and off-balance sheet accounts.
****) Net Open Position is calculated with balance sheet accounts only since 2004 in accordance with
Bank Indonesia Regulation No. 6/20/PBI/2004 dated July 15, 2004 regarding "The Amendment Bank Indonesia Regulation
No. 5/13/PBI/2003 Concerning Net Open Position For Commercial Banks".
FINANCIAL RATIOS
December 31, 2004 and 2003
Bank
KEY RATIOS (%)
NO
December 31,
2004
December 31,
2003
(5)
I. COMPONENTS
A. Core Capital
20,214,560
17,859,230
1. Paid-Up Capital
10,066,427
10,000,000
2. Disclosed Reserves
a. Agio
5,967,897
5,926,418
b. Disagio (-/-)
-
-c. Share Options
13,831
9,897
d. Donated Capital/Additional Paid-in Capital
-
-e. General and Appropriated Reserves
747,000
-f. Previous Years Profit After Tax
743,715
-g. Previous Years Losses (-/-)
-
-h. Current Year Profit After Tax (50%)
2,671,851
1,906,823
i. Current Year Losses (-/-)
-
-j. Differences Arising from Translation of Financial Statements
in Foreign Currencies
1) Positive Adjustment
3,839
16,092
2) Negative Adjustment (-/-)
-
-k. Funds for Paid-Up Capital
-
-l. Decline in Value of Equity Participation in Available-for-Sale Portfolio (-/-)
-
-m. Differences Arising from Restructuring of Transactions among Entities
under Common Control
-
3. Goodwill (-/-)
-
B. Supplemental Capital
9,189,588
9,342,931
(Max 100% of core capital)
1. Reserve for Premises and Equipment Revaluation
3,046,936
3,046,936
2. General Reserves of Allowance for Possible Losses on Earning Assets
(max 1.25% of risk weighted assets)
1,361,685
1,136,983
3. Loan Capital
125,347
1,902,859
4. Subordinated Loans (max 50% of core capital)
4,655,620
3,256,153
5. Increase in Value of Equity Participation in Available-for-Sale Portfolio (45%)
-
-II. TOTAL CORE CAPITAL AND SUPPLEMENTAL CAPITAL (A+B)
29,404,148
27,202,161
III. INVESTMENTS IN SHARES OF STOCK (-/-)
(1,867,664)
(1,738,445)
IV. TOTAL CAPITAL (II-III)
27,536,484
25,463,716
V. RISK WEIGHTED ASSETS
108,934,763
91,855,132
VI. ESTABLISHED CAPITAL ADEQUACY RATIO (IV : V)
25.28%
27.72%
VII. REQUIRED MINIMUM CAPITAL ADEQUACY RATIO
8%
8%
CALCULATION OF CAPITAL ADEQUACY RATIO
As of December 31, 2004 and 2003
Bank
DESCRIPTION
NO
(in million of Rupiah)
December 31,
2004
December 31,
2003
(6)