Analyst Meeting 9M 2013 FULL

(1)

PT Bank Mandiri (Persero) Tbk

3Q 2013

Results Presentation

(2)

Share Information

∆ fro : IPO Sep 30, 2013

BMRI +1,150.00% +2.47%

JCI +743.11% +2.48%

No. of

Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 14,000,000,000 60.00% 2. Retail 10,399 11.80% 189,815,502 0.81% 3. Employees 75,554 85.73% 68,887,818 0.30% 4. Cooperatives 5 0.01% 2,936,556 0.01% 5. Foundation 26 0.03% 12,447,035 0.05% 6. Pension Funds 170 0.19% 223,716,520 0.96% 7. Insurance 66 0.07% 511,015,036 2.19% 8. Banks - 0.00% - 0.00% 9. Corporations 131 0.15% 382,779,793 1.64% 10. Mutual Funds 164 0.19% 739,179,658 3.17%

Total 86,516 98.18% 16,130,777,918 69.13% II INTERNATIONAL

1. Retail 74 0.08% 1,623,733 0.01% 2. Institutional 1,533 1.74% 7,200,931,682 30.86%

Total 1,607 1.82% 7,202,555,415 30.87%

III TOTAL

No. Description

By 30 September 2013

88,123

100.00% 23,333,333,333 100.00%

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

l-03

-04

l-04

-05

l-05

-06

l-06

-07

l-07

-08

l-08

-09

l-09

-10

l-10

-11

l-11

-12

l-12

-13

l-13

BMRI JCI

(3)

2 Bank Mandiri Presentation Contents

Results Overview Page #



I do esia s E o o i Co ditio 3



9M 2013 Highlights 4



Key Indicators + Financial Highlights 5-6



SBU Performance Highlights 7



Ba k s Pe fo a e 8-11



Loan Performance 12-14



ROE & NIM 15-16



Fee-Based & CIR 17-18



Wholesale Transactions 19-21



Retail Value Chain 22-24



High-Yield Lending Activities 25-27



NPL Movement 28-30



Subsidiaries 31-33



Targets ₃₄

Operating Performance Highlights Supporting Materials

(4)

Better Economic Condition Despite Global Slowdown Risk

Source: BPS, Bloomberg

Trade balance back to surplus at USD312 mn

I t l ese es i p o ed to U“D9 .7 bn, Sep 2013

-3 -2 -1 0 1 2 3 4

6 8 10 12 14 16 18 20

Jan

-10

Jul

-10

Sep

-10

v-10

Jan

-11

Jul

-11

Sep

-11

v-11

Jan

-12

Jul

-12

Sep

-12

v-12

Jan

-13

May

-13

Jul

-13

Trade Balance - RHS Export - LHS

Import - LHS

95.7

5.2

4 5 6 7 8

60 70 80 90 100 110 120 130

c-09

-10

Jun

-10

Sep

-10

c-10

-11

Jun

-11

Sep

-11

c-11

-12

Jun

-12

Sep

-12

c-12

-13

Jun

-13

Sep

-13

International Reserve -LHS

Import cover- RHS

(5)

4 Bank Mandiri remains on track to become

I do esia s Most

Admired Financial Institution

Retail Loans (1)

• Rp 123.8 Tn

• 31.3% of Loans

Subsidiary Income

• Total Rp 1,545 Bn

• Sum of income from

5 subsidiaries

(12.1 % of EAT)

Alliances (total)

• Cards From Alliances

295.575 cards

• Alliance Payroll

Accounts: 941.352

e-Channel Tx

• 992,2 Mn YTD

• 5.6% Growth

# of Cards Issued

• Credit 3.08 Mn

• Debit 11.10 Mn

• Prepaid 3.28 Mn

Cash Management

• 12,652 Customers

• 18.1 Mn Tx YTD

2013 (2)

(1) Small Business, Micro and Consumers (2) Exclude Mandiri Transaction System

# of Accounts

• Deposit 13.7 Mn

• Loan 1.36 Mn

# of new Accounts (YTD)

• Deposit 2.72 Mn

• Loan 521.341

# of Outlets

• 1,909 Branches

• 2,346 Micro Outlets

(6)

5 Con

ti

nuou

s

Imp

ro

vemen

t

of K

e

y Indi

ca

tor

s

10.00%

15.80%

18.01%

22.10%

24.40%

30.70%

24.30%

22.70%

22.00%

21.12%

21.88%

22.18%

22.55%

21.85%

21.09%

21.35%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13

R

et

urn

on

Equit

y

(

R

oE

)

F

ee

Bas

ed

R

at

io

C

urrent

Ac

c

ount

Sav

ing

Ac

c

ount

(C

ASA)

N

on

Perf

orm

ing

Loan

(N

PL)

19.60%

20.10%

23.90%

24.40%

29.30%

27.70%

28.10%

29.30%

30.40%

28.10%

29.50%

28.20%

28.40%

28.50%

28.70%

29.40%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13

53.00%

61.60%

56.70%

58.40%

55.80%

54.00%

57.70%

58.70%

60.70%

60.60%

62.30%

63.00%

65.50%

62.10%

63.60%

64.30%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13

16.30%

7.20%

4.73%

2.79%

2.42%

2.60%

2.42%

2.56%

2.21%

2.22%

2.07%

2.04%

1.87%

2.08%

1.89%

1.90%

2006 2007 2008 2009 2010 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13

(7)

Key Financial Highlights

Bank

Ma di i s

9M 2013 Performance demonstrated marked improvements

across several key indicators:

9M



%

Loans

Rp365.2 tn

Rp450.8tn

23.4%

Net NPL Ratio

Gross NPL Ratio

0.52%

2.04%

0.53%

1.90%

1.9%

(6.8%)

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

63.0%

Rp271.6tn

64.3%

Rp330.7 tn

2.0%

21.8%

NIM

5.41%

0.1%

Efficiency Ratio

43.3%

42.3%

(2.3%)

Earnings After Tax

Rp11,119 bn

Rp12,803 bn

15.1%

(8)

Diversified Income Across All Business Units

19.80% 19.36% 27.08% 28.04% 5.45% 5.51% 34.62% 36.43% 13.05% 10.66%

4.67% 6.87% 11.33% 10.33% 43.32% 36.92% 32.73% 35.96% 7.94% 9.92%

NII (Net Interest Income)

(Rp Bn) % of Total

Fee Income

(Rp Bn) % of Total

Asset Spread

(Rp Bn) % of Total

Liabilities Spread

(Rp Bn)

2,855

3,905

786

4,993

1,882 4,189

6,067

1,193

7,881

2,306

Corporate + Institutional

Comm & Business Banking

Treasury, FI & SAM

Micro & Retail

Consumer Finance

9M '11 9M '13

2,106

3,264

624

1122

1,866 2,976

5,471

1006

2,406

2,291

9M '11 9M '13

838

640

162

3,810

15 1,213

597

187

5,475

9M '11 9M '13

23.45% 21.03% 36.34% 38.66% 6.95% 7.11% 12.49% 17.00% 20.77% 16.19%

387

938

2,188

2,711

658 664

998

1,950

3,476

959

9M '11 9M '13

7

*Rp 1,618 Bn from SAM recoveries on W/O loans **Rp 1,400Bn from Garuda

1,618* 1,400**

(9)

82.8 88.8 93.7 97.1 97.1 102

108.8 121.9 119

126.5 135.4 151.8 150.4 159.9

166.2 186.9 179.9 189.8 198.8

8.2 8.38.7 9.7 9.9 10.811.6

11.612.312.712.2

12.013.413.614.0

15.315.816.819.0

44.5 47.3 45_.7

53.9 47.8 50.3 39.9 46.2 45

47.9 49.4

67.3 75.0 59.0 63.0

77 .9 61.2 74.6 63 .9 20.318.321.1 18.822.023.122.9 22.225.422.3 24.0 25.328.228.028.5 36.1 33.3 38.549.2 99.6 105.7

109.3 108.4 124.4 127.8 _127.0 147.8 14 3.5 140 .8 140.0 148.1 ₁₂₀ .8 137.5 138.9 150.7 152.8 153.7 155.2 16.718.7 17.115.1 11.811.711.1 12.510.312.415.3 17.8 15.620.3 20.4 16.1 24.0 29.028.2 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 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1 Q' 11 2Q '11 3Q '11 4 Q' 11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13

FX Time Rp Time FX Demand Rp Demand FX Savings Rp Savings

65.8 68.8 69.8 74.5 80

84.2 85.4 85.1 96

103.2 106.2 113.0 119.2 123.2 126.3 124

124.3 130.9

4.4 4.4 4.2 4.5 0.2 0.4

1.3 1.4 1.6 1.5

1.7 1.41.3 1.5

1.6 1.8 1.6 1.5 1.7

40.6 41.9 43.6 49

49.1 53_.1

57.5 63.8 64.7 70.1 74

80.7 82.5 89.8 93.3

102.7 102.0 104.2 111.0

20.6 21.7 23.6 24.7

28.6 30_.7 32.4 34.3 36.3

39.0 40.7

43.3 44.5 47.7

49 .3 52.4 55.2 14.115.516.3 17.117.7 19.3 20.522.723.3 25.8 27.630.2 30.9 33.135.0 38.4 38.442.5 43.7

4.6 4.85.1

5.4 5.6 6.06.5 7.3 7.7 8.5 9.5 11.813.1 15.116.8 19.0 20.7 23.9 24.9 12.611.511.2 10.3 9.7 9.18.6 7.8 6.7 6.1 6.1 4.64.8 4.84.9

4.0 3.93.9

4.2 22.6 24.3*) 16.817.117.6 18.820.4 22.7 24.6 27.230.3 34.2 38.4 40.5 40.9 43.6 46.0 48.950.9 53.5 54.9 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4 Q' 10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3 Q' 12 4Q '12 1Q '13 2Q '13 3Q '13 Subsidiaries Inst SAM Micro

Small Cons Comm Int'l Corp

Maintaining momentum for growth

Y-o-Y  38.6% 11.8% 72.6% 1.4% 19.6% Y-o-Y  48.6% 24.9% 24.1%

Loans by SBU + Subsidiaries

(Rp Tn)

18.9%

6.3%

Deposits by Product

–

Consolidated

(Rp Tn)

*Previously booked in Corporate Banking

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

6.9%** 35.5% 23.4% 450.8tn Total Total 430.9tn 514.2tn 19.3% (13.9%) 19.4%

8

365.2tn

(10)

 Total Wholesales Fees Rp3.2Tn1)

 Total Wholesale Low Cost Deposits Rp87.2Tn

 Growth of Tx cash management 83.9% YoY2)

 Total Retail Fees of Rp6.2 Tn1)

 Total Retail Low Cost Funds Rp234.1Tn

 YoY increase in # of E-channel transaction: 5.6%

 Total Retail Loans of Rp123.8 Tn

 Assets Spread Rp6.7 Tn

 31.3% of total loans

Pillar 1

Pillar 2

Pillar 3

1) Fee-Based Provision, Commission & Fee 2) Excluding Mandiri Transaction System

Good Progress On Our 3 Strategic Priorities:

Wholesale Transactions, Retail Payments & High Yield Loans

9 Strengthen leadership in wholesale

transaction banking

 Comprehensive financing &

transaction solutions

 Holistic relationship approach for

leading Indonesian institutions

Build #1 or #2 positions in key retail

financing segments

 Win in mortgage, personal loan &

cards

 Become a major player in

micro-banking

 Champion Syariah in Indonesia

Be the retail deposit bank of choice

 Win through differentiated customer

experience and targeted propositions

(11)

Strong and liquid balance sheet

Assets

3Q 2013

3Q 2012

Liabilities

3Q 2013

3Q 2012

Cash

14,352

11,476

Current Account

113,022

91,441

Current Acc w/ BI & Other Banks

59,876

45,046

Savings

217,723

180,206

Placement w/ BI & Other banks

35,474

43,378

Time Deposits

183,475

159,269

Advances (Other)

20,448

12,756

Marketable Securities

18,375

10,977

Total Deposits

514,221

430,916

Government Bonds

82,188

77,915

Loans (Gross)

450,766

365,163

Securities Issued

1,787

1,605

Provisions of Loans

(16,157)

(14,203)

Deposits from other banks

30,131

27,938

Reverse Repo

1,585

6,793

Borrowings

13,769

12,141

Other Provisions

(2,024)

(1,512)

Other Int. Bearing

Liabilities

13,854

9,515

Investments

11,627

10,616

Non Int. Bearing Liabilities

42,578

34,995

Deferred Tax Assets

2,968

2,633

Equity incl. Minority

Interest

83,742

71,295

Other Assets

20,607

17,368

Total

700,083

588,406

Total

700,083

588,406

(Rp Bn, Consolidated)

(12)

Strong Revenue Growth

11 Summary P&L

_{(Rp Bn)}

Q ’

_{(Rp Bn)}

Q ’

_{(Rp Bn)}

Q ’

_{Rp (Bn)}

9M’

_{Rp (Bn)}

9M’

9M Y-o-Y

_{∆ ℅}

Q-o-Q

_{∆ ℅}

Y-o-Y

_{∆ ℅}

Interest Income

12,683

11,713

10,929

35,798

31,152

14.9%

8.3%

16.0%

Interest Expense

4,403

4,030

3,654

12,380

11,190

10.6%

9.2%

20.5%

Net Interest Income

8,280

7,682

7,275

23,418

19,962

17.3%

7.8%

13.8%

Net Premium Income

₆₉₈

₇₁₃

₅₅₀

_2,021

_1,649

_22.6%

_(2.1%)

_26.9%

Net Interest Inc. & Premium Inc.

8,978

8,395

7,825

25,439

21,611

17.7%

6.9%

14.7%

Other Non Interest Income

* Other Fees and Commissions

_2,132

_2,105

_1,773

_6,098

_5,314

_14.8%

_1.3%

_20.2%

* Foreign Exchange Gains

–

Net

₈₈₁

₃₉₈

₂₄₇

_1,506

₈₆₂

_74.7%

_121.2%

_256.7%

* Gain fr. sale & Incr. in Val of Bonds

₍₁₀₈₎

₍₁₁₅₎

₉₇

₍₁₇₇₎

₈₂

_n/a

* Others

899

864

731 2,904

2,325

24.9%

4.0%

23.0%

Total Non Interest Income

_3,805

_3,252

_2,848

_10,330

_8,583

_20.4%

_17.0%

_33.6%

Total Operating Income

_12,783

_11,647

_10,673

_35,769

_30,193

_18.5%

_9.8%

_19.8%

Provisions, Net

(1,494)

(1,422)

(996)

(4,005)

(2,795)

43.3%

5.0%

50.0%

Personnel Expenses

_(2,679)

_(2,336)

_(1,869)

_(7,057)

_(5,674)

_24.4%

_14.6%

_43.3%

G&A Expenses

(2,375)

(2,322)

(2,071)

(6,731)

(5,689)

18.3%

2.3%

14.7%

Loss from decr. in value of Sec &Bonds

_-

-Other Expenses

(429)

(409)

(578)

(1,404)

(1,663)

(15.6%)

4.9%

(25.8%)

Total Expense

(5,483)

(5,067)

(4,518)

(15,192)

(13,026)

16.6%

8.2%

21.4%

Profit from Operations

_5,807

_5,158

_5,160

_16,572

_14,372

_15.3%

_12.6%

_12.5%

Non Operating Income

₆₅

₆₉

₃₃

₁₇₇

₂₃₂

_(23.7%)

_(6.5%)

_97.0%

Net Income Before Tax

_5,871

_5,227

_5,193

_16,749

_14,604

_14.7%

_12.3%

_13.1%

(13)

LDR increased to 87.3%, Bank-only loan growth of 24.0%

175.2 181.6 188.3 198

201.9 218.0 231.9 246.2 251.8 276.7 297

314.4 327.2 350.4 365.2 388.8 391.6 428.7 450.8 63.2% 62.2% 62.8% 61.4% 64.1% 66.3% 71.7% 67.6% 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 80.1% 83.5% 85.0%87.3% 1Q '09 2Q '09 3Q '09 4Q '09 1 Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2 Q' 12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13

Loans (Rp tn) LDR (%)

1.4%3.7%3.7%_5.5%1.7%

7.9% 6.4% 6.2% 2.3% 9.9% 7.5% 5.7% 4.1% 7.1% 4.2% 6.5% 0.7% 9.5% 5.1% 30.5% 21.4% 15.7% 13.8% 15.3% 20.0% 23.2% 24.0% 24.7% 26.9% 28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7% 22.3% 23.4% 1Q '09 2Q '09 3Q '09 4 Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1 Q' 12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(Consolidated)

78.8 79.7 82.0 82

82.9 88.7 92.8 93.6 92.5 1

0 3 .1 110 .4 111. 7 1 1 8 .6 1 2 5 .2 129. 3 131. 7 129. 9 151. 9 153. 5 42 .6

43.6 45.3 50.6 50.4

54.2 58.6 64

.5 70.7 75.3

81.1 82.9

90.1 93.6 103.

0 102 .3 104. 4 118. 2 14.415.816.6

17.4 18.019.7

20.722.8 24.5 25.9

27.730.3 30.9

33.235.1 38.5 38.5

42.5 44.1

4.6 4.8 5.1 5.4 5.6 6.0 6.5 7.3 7.7 8.5 9.511.8 13.1 15.116.8 19.020.7 23.9 24.9 19.720.621.7 23.6 24.8 26.728.6 30.7 32.4 34.3 36.3 39.040.7 43.344.5 47.7 49.3 52.4 55.2 1 Q' 0 9 2 Q' 0 9 3 Q' 0 9 4 Q' 0 9 1 Q' 10 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' 11 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

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  24.1% 48.6% 25.6% 26.3% 18.8% 24.0% Total 13.9% 6.3% 11.1% 29.8% 38.8% Break down

As of Sep 2013; Non-consolidated numbers

(14)

34 .56

35 .24

3

7 .8

3

36 .49

35 .64

31 .15

29 .19

29 .75

30 .62

33 .96

35 .68

38 .86

38 .60

41 .87

44 .44

40 .35

41 .88

4

5 .4

7

45 .73

49 .62

48 .17

53 .29

59 .79

104.5% 95.9% 111.0% 80.5% 78.3% 68.5% 61.9% 68.2% 71.7% 76.3% 80.7% 86.6% 82.9% 91.5% 89.0% 75.8% 76.0% 76.2% 75.4% 76.4% 68.0% 65.1% 64.3% 50% 60% 70% 80% 90% 100% 110% 120% Ma r 0 8 Ju ne 0 8 Sep 0 8 Dec 0 8 Ma r 0 9 Ju ne 0 9 Sep 0 9 Dec 0 9 Ma r 10 Ju ne 1 0 Sep 1 0 Dec 1 0 Ma r 1 1 Ju ne 1 1 Sep 1 1 Dec 11 Ma r 1 2 Ju n 1 2 Sep 1 2 Dec 1 2 Ma r 1 3 Ju n 1 3 Sep 1 3 20 25 30 35 40 45 50 55 60 65 70

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Billion

Rp Trillion (Bank Only)

Breakdown of FX lending (Bank Only)

3Q

(Total USD 5.163 Bn)

0.02 0.04 0.12 0.23 0.25 0.31 0.38 0.60 0.71 1.16 1.35

Soc Serv

Others

Constr

Utilities

Bus Serv

Trans

Agri

Trading

Mining

Oil & Gas

Manufacturing



% (YoY)

41%

21%

61%

-4%

50%

9%

12%

28%

-45%

5%

FX Loans & LDR

(15)

33.13

16.73

5.53

5.30

5.19

65.89

Corporate Commercial Small Micro Cons Fin Total 375.20

65.89

23.73

24.75 _4.80

8.89

0.88

395.83

2Q'13 Disburs. Install. Payment Pay-off FX Impact

Write-Offs

3Q '13

Rp65.89 tn in loans disbursed in 3Q 2013

Loan Movement (Rp tn) –Bank Only Q3 (2013) Loan Disbursement by Segment in Q3(Rp tn) –Bank Only

(16)

42.6

58.1

72.5

91.9 108

115

2.2

134.0

172.9

195

242.4

352.5

400.2

469

13.3 15.4 17.0 25.5 27.5 27.4 28

27.2 30.5 35.7 53

62.0 71.1

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

RWA (Rp tn) Total Capital (Rp tn)

31.3%

26.4%

23.4% 27.7%

25.3% 23.2%

24.6% 20.8%

15.7% 15.4%

13.4% 15.3%

15.5% 15.1% CAR*

308 1,168 1,549 1,744

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

2,681 3,403 4,303 1,300

602 690 1,329

97 305

1,113 1,221 1,526 2,031

2,543 3,744 3,991

967 1,017

1,528 1,408

610 372

1,040 1,345

1,693 2,352

2,850 3,972

4,509

645 799 819

775

(623) 1,234

1,166 1,390

2,536 2,833

3,073 4,385

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q4 PAT

Q3 PAT Q2 PAT Q1 PAT IDR bn

21.4% ROE, supported by a strong capital position

Capital & RWA Movement

Profit After Tax & ROE

21.5% 26.2%

23.6%_22.8%

2.5%

10.0%

15.8%18.1%

22.1%24.2% 22.0%

22.6% 21.4%

RoE - AT

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

• CAR inclusive of Credit, Market and Operational Risk started in January 2010 • CAR under BASEL III in December 2012 was 17.32%

15

1,099*

(17)

2.8% 3.7% 4

.3

%

3.6% 4.9% 4.7% 5

.1

%

5.5% 6.0% 5

.4

%

5.5%

5 .3

%

4 .9

%

5.3% 5.1% 5.2% 6.0% 5.8%

5 .1

%

5.4% 5.2% 5.4% 5

.2

%

5.5% 5.8% 5

.7

%

5.5% 5.3% 5

.7

%

4Q '02 4Q '03 4Q '04 4Q '05 4Q '06 4 Q '07 1Q '08 2Q '08 3Q '08 4 Q '08 1Q '09 2Q '09 3 Q '09 4Q '09 1Q '10 2 Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4 Q '11

1Q'12 2Q'12 3Q'12 4_Q'

1Q'13 2Q'13 3_Q'

13 NIM 13.0% 9.5% 11.0% 9.3% 10.1% 10.7% 9.1% 9.8% 8.7% 9.0% 8.7% 8.7% 8.2% 8.1% 8.4% 8.2% 8.1% 7.8% 8.3% 10.8% 10.8% 6.3% 4.8% 7.3% 4.5% 3.8% 5.3% 4.9% 4.0% 3.8% 3.8% 3.7% 3.4% 3.2% 2.8% 2.7% 2.7% 2.8% 2.6% 2.8%

Yield on Assets Cost of Funds

Q3 NIM of 5.7% as Yield on Assets Rises 51bps

Quarterly Net Interest Margins

_{Quarterly Yields & Costs by Currency}

5.8% 5.1% 5.3% 6.6% 5.8% 6.8% 6.5% 6.6% 5.8% 6.4% 5.2% 5.2% 5.0% 7.2% 5.1% 4.9% 4.7% 5.3% 4.8% 5.4% 5.0% 4.9% 4.5% 4.5% 5.6% _4.0% 3.5% 3.4% 2.7% 2.6% 3.0% 2.7% 2.3% 2.1% 1.5% 0.8% 0.7% 0.8% 0.7% 0.5% 0.3% 0.5% 0.6% 0.6% 0.6% 0.7% 0.7% 0.6% 0.6% 0% 5% 4Q '05 4Q '06 4 Q '07 1Q '08 2 Q '08 3 Q '08 4Q '08 1Q '09 2Q '09 3 Q '09 4Q '09 1Q '10 2Q '10 3Q '10

4Q'10 1Q'11 2Q'11 3Q'11 4_Q'

1Q'12 2_Q'

4Q'12 1Q'13 2Q'13 3_Q'

13 13.2% 12.0% 11.2% 12.1% 13.2% 12.9% 12.9% 12.8% 12.6% 12.2% 13.1% 12.7% 12.5% 11.8% 12.1% 11.9% 12.5% 11.4% 11.6% 11.8% 11.3% 11.2% 10.8% 11.1% 10.8% 7.7% 8.0% 9.2% 10.3% 10.6% 8.5% 7.2%

6.7% 6.2% 7.3% 6.5%

4.9% 4.1%

3.9% 4.0% 3.4%3.9%

4.7% 6.9% 4.6% 4.5% 4.0% 4.6% 5.8% 5.9% 5.3% 4.7% 4.4% 4.4% 4.3% 4.1% _3.9%

3.1% 3.0% 3.1% 3.0%

3.3% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

IDR

FX

(18)

…i to Fee

-based Income

Breakdown of Q3 2013 Non-Loan Related Fees & Commissions (Rp Bn)

17 Non-Loan Related Fees & Commissions

Q3-2013 Q2-2013 Q3-2012

Y-o-Y

Q-o-Q

9M Y-o-Y

Δ

%

Δ

%

Δ

%

Administration Fees

608 613 494 23.10% -0.7% 17.6%

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

192 182 159 21.30% 5.5% 18.9%

Subsidiaries

370 470 344 7.40% -21.3% 10.6%

Transfer, Retail Transaction

353 309 299 18.10% 13.9% 18.3%

Credit Cards

299 277 250 19.60% 7.8% 15.8%

Mutual Fund, ORI & Bancassurance

91 92 87 4.10% -1.3% 2.0%

Syndications

58 28 19 206.40% 104.7% -22.2%

Payroll Package

19 19 22 -11.10% 3.3% -11.1%

Others

142 113 99 43.50% 24.9% 29.9%

Total

2,132 2,105 1,773 20.30% 1.3% 14.8%

Foreign Exchange Gains

881 398 247 257.40% 121.2% 74.8%

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

-108 -115 97 -210.70% -6.8% 115.9%

Cash Recoveries

598 658 505 18.50% -9.2% 28.0%

Total Operating Income

12,783 11,647 10,673 19.80% 9.8% 18.5%

(19)

827 1,0₀₄ 1,1₁₀ 1,3₈₄ ₅₁1,0 1,2₆₅ 1,4₅₉ 1,6₈₂ 1,524 ₁₀1,5 1,8₈₃ 2,1₀₇ 1,614 2,004 2,0₇₁ 2,565 2,0₃₄ 2,3₂₂ 2,3₇₅

1,1

1,3

1,0

1,3

28 _1,3

,375

1,4

1,6

12 1,5

,631

,671

1,9

,865

1,9

1,8

2,3

2,0

2,3

2,6

'09

'10

1Q'11 2_Q'

3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'

1Q'13 2Q'13 3_Q'

G&A Expenses Personnel Expenses

35.1% 42.8%

39.3% 43.2%

39.0% 38.4%

38.1% 45.1%

32.4%

37.3%39.0% 41.6%

44.0% 43.2%

42.7% 51.3%

41.1% 43.1%42.5% CIR (%)

Q3 Cost to Income Ratio of 42.5 %

Breakdown of 3Q 2013 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

18

Q’ Q’ 9M'13 9M'12 Growth (%)

YOY 9M YOY QOQ

Personnel Expenses

Base Salary 619 540 1,761 1,594 14.6% 10.4% 14.6%

Other Allowances 1,256 847 3,304 2,576 48.3% 28.3% 48.3%

Post Empl. Benefits

182 69 309 196 163.8% 57.5% 163.8%

Training 99 57 252 198 73.7% 27.3% 73.7%

Subsidiaries 523 356 1,431 1,109 46.9% 29.0% 46.9%

Total Personnel Expenses

2,679 1,869 7,057 5,674 43.3% 24.4% 43.3% G&A Expenses

IT & telecoms 318 250 878 677 27.2% 29.8% 27.2%

Occupancy Related

474 384 1,392 1,177 23.4% 18.3% 23.4%

Promo & Sponsor 253 231 683 748 9.5% -8.6% 9.5%

Transport & Travel

131 116 380 333 12.9% 14.1% 12.9%

Goods, Prof. Svcs. & Oth.

292 260 837 638 12.3% 31.2% 12.3%

Employee Related

365 293 1,029 771 24.6% 33.5% 24.6%

Subsidiaries 542 537 1,530 1,346 0.9% 13.7% 0.9%

Total G&A Expenses

2,375 2,071 6,731 5,689 14.7% 18.3% 14.7% Other Expenses 429 578 1,404 1663 -25.8% -15.6% -25.8% Total Operating Expenses

(20)

Wholesale Transactions driving CASA higher

745 2,414

4,066 6,153

7,784 10,943

11,899

12,11212,366

12,652

2006 2007 2008 2009 2010 2011 2012 1Q13 2Q1

3Q13

Cash Management Users

Wholesale CASA Deposits

,05

,257

,69

,60

,11

,95

,20

,16

-10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000

2007 2008 2009 2010 2011 2012 9M

2012

2013

Total CASA (IDR Billion)

248 479 716 685 677 771 1,130 ₇₅1,1 1,178 1,6₇₆ 2,1₄₈ 2,1₆₁ 4Q10 1Q11 2Q11 3_Q

1Q12 2Q12 3Q12 4Q12 1Q

3Q13

Average # of Cash Management Tx

(000), total 18.1 Mn transactions in

2013

*) _{Exclude Mandiri Transaction System}

19

83.9% YoY

Growth 25.9% YoY

(21)

Growing Volume in Wholesale Transaction Business

Mandiri Cash Management

Forex

431 685 956 1,4

479 563 578

7,266

18,803

29,774

43,433

5,028 6,443 6,574

-5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000

-200.0 400.0 600.0 800.0 1,000.0 1,200.0 1,400.0 1,600.0 1,800.0 2,000.0

Dec 09 Dec 10 Dec 11 Dec 12 1Q '13* 2Q '13* 3Q '13*

Value (IDR Trillion) # of Trx (000)

*) _{Excludes Mandiri}

Transaction System

24 34 42 63 13 16 17

240,806281,153

310,512 322,795

111,728

127,323

121,392

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

-10.0 20.0 30.0 40.0 50.0 60.0 70.0

Dec 09 Dec 10 Dec 11 Dec 12 1Q '13 2Q '13 3Q '13

Value (USD Billion) # of Trx

Wholesale Remittance

Trade Transaction : Export, Import, Domestic

59 70 94 121 38 34 29

396,814 435,866

448,219

599,909

169,480

171,233

150,094

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

-20.0 40.0 60.0 80.0 100.0 120.0 140.0

Dec 09 Dec 10 Dec 11 Dec 12 1Q '13 2Q '13 3Q '13

Value (USD Million) # of Trx

85 85 110 125 31 34 30

454,120 495,813

510,916

517,251

130,571

138,753

124,966

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

-20.0 40.0 60.0 80.0 100.0 120.0 140.0

Dec 09 Dec 10 Dec 11 Dec 12 1Q '13 2Q '13 3Q '13

Value (USD Billion) # of Trx

20

(22)

74.6 78.8 74.4 80.4 75.9 81.3 86

95.5 _88.2 93.4 98

109.6 107

112.7 120

134.0 132.7 140.6 146.1

165.0 _157.5 16

6.8

176

5.1 6.2 5.16.1 6.8 6.9

7.48.19.310.2

11.011.011.711.9 11.5 11.312.712.8 13.0 13.7 14.715.6 18.4

4.45.15.36.8 5.6 6.1 8.0 9.4 8.28.8 9.1 11.110.511.9 12.2 15.714.615.4 16.1 18.6 17.016.7 28.6 1.41.4

1.81.72.32.5 2.4

2.7 2.72.7 3.3

3.2 3.53.5 4.1 4.2 4.34.3 10.7 44.442.050.6 63.462.965.1 68.7

68.5_71.870.668.7

70.569.068.6 70.8 73.171.670.3 71.5 71.4 72.170.7 80.2

5.0 5.1 5.4 7.7

7.47.4

7.56.8 6.0 5.7 5.8

5.8 5.3 5.2 5.2

5.3 5.05.0 5.1 5.0 4.74.6 6.4 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 1Q '08 2Q '08 3Q '08 4 Q '08 1Q '09 2 Q '09 3Q '09 4 Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4 Q' 11 1Q '12 2Q '12 3Q '12 4 Q' 12 1Q '13 2 Q' 13 3Q '13

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit rose by 25.3% Y-o-Y

Retail Deposit Analysis

–

Bank Only

2.5% 2.8%

4.2%

3.4% 3.3%

3.1%

2.5% 2.3% 2.4%2.8%

2.0% 2.2% _1.9%

3.2%

3.0% 3.3%

2.5% 2.6%

2.1% 2.2% 2.4% 1.8%

1.5% 1.6% 1.5% 1.6% 1.5% 1.5% 6.8% _6.3% 9.3% 9.5% 8.7% 7.2% 6.5% 6.9% 6.3% 6.5% 6.5% 5.7% 5.0% 4.9% 5.10% 4.90% 5.0% 5.5% 0% 5% 10% 15%

Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

2.4%

1.6% 1.8%

0.9% 0.9%

0.1% _0.1% 0.1% 0.3% 0.3% 0.2%

0.2% 0.3%0.3%

2.6% 2.9%2.8% 3.7% 3.9%

3.0%

1.9%

0.3% 0.5%0.5% 0.4% 0.8%0.8% 0.7% 0.7% 0.5% 0.6% 0.8% 0% 2% 4% 1Q '08 2 Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2 Q '10 3Q '10 4Q '10 1Q '11 2 Q' 11 3Q '11 4 Q' 11 1Q '12 2 Q' 12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13

FX DD FX TD

63.5% 62.3% 61.4% 60.4% 62.5% 64.7% 63.4% 63.8%66.1% 63.3% 63.8% 64.9% 66.1% 66.5% 69.6% 70.1% 72.5% 71.6% 72.9% 73.0% CASA as % of total deposits

(23)

…th ough e ha ed t a sa tio apa ilities

Quarterly Transaction Volume (Mn)

Quarterly Transaction Value (Rp Tn)

Quarterly Users (Mn)

* Inactive cards have been purged 122.9 142.0 141.9 148.1 168.1 186.2 189.4 204.0 212.3 226.6 218.1 222.3 232.9 42.3

38.6 41.7 40.8

43.0 40.7

44.7 44.1 40.8

45.3 39.1

7.9 11.615.015.4 21.3 25.4 26.2 27.3 34.5 30.8 33.0 34.1 8.316.5 26.6

31.8 49.7 68.5 77.8 84.7 85.3 66.7 66.8 76.7 75.5 0 25 50 75 100 125 150 175 200 225 250 1 Q '0 9 2 Q '0 9 3 Q '0 9 4Q '09 1 Q '1 0 2 Q '10 3 Q '1 0 4Q '10 1 Q '1 1 2 Q '11 3 Q '1 1 4 Q '11 1

Q'12 2Q

'12 3 Q '1 2 4Q '12 1 Q '1 3 2 Q '1 3 3 Q '1 3 ATM Branch SMS Banking Internet Banking 77.1 95.5 97.1 107.5 130.8 147.7 153.8 159.9 170.0 177.3179.3 184.1

191.2

1.4 2.1 2.6 2.9 5.0 8.8 5.5 5.5

8.3 9.2 10.5 4.8 7.1 8.7

11.716.3 21.523.5 25.6 26.8 28.7 29.4 32.2 33.3 0 20 40 60 80 100 120 140 160 180 200 1 Q '0 9 2 Q '09 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 4 Q '1 0 1 Q '1 1 2 Q '11 3 Q '1 1 4 Q '1 1 1Q '12 2 Q '12 3Q '12 4 Q '12 1 Q '1 3 2 Q '13 3 Q '1 3 ATM SMS Banking Internet Banking 9.95 7.20 7.67 8.068.35 8.72 8.17 8.96 9.24 9.65 9.99 _10.16 10.57 _10.89 11.10 2.16 3.17 4.21 4.61 4.61 5.08 5.29 5.47 5.63 5.74 5.80 5.97 6.09 1.11 1.21

0.92 1.01 1.03 1.16 1.21 1.26 1.31 1.36 1.39 1.46 1.51 0 2 4 6 8 10 12 1 Q '09 2 Q '0 9 * 3 Q '09 4 Q '0 9 1Q '10 2 Q' 10 3

Q'10 4Q'10 1Q'

1 1 2Q'11 3 Q '1 1 4

Q'11 1Q'12 2Q

'1 2 3 Q '12 4 Q '1 2 1 Q '13 2 Q '1 3 3 Q '13 Debit Cards SMS Banking Internet Banking

22

(24)

Retail Payment system gaining Traction

Volume Mandiri Business

Saving Account (Tn)

3.5 4.8 8.0

17.7 34.7

59.4

46.4 73.7

2007 2008 2009 2010 2011 2012 9M 2012

9M 2013

Fee Income from e-channel Tx (Bn)

23

23,69027,61133,732

47,127 92,903

180,532 194,297

205,325 209,249

2007 2008 2009 2010 2011 2012 1Q '13

2Q '13

3Q '13

Numbers of EDC

58.7% YoY Growth

52.1 89.4 126.2

200.3 258.2

315.2 347.6 65.5

98.5 166.6

196.5 285.7

318.6 382.0

81.9

110.5 194.5

249.3 313.9

361.8 437.5

89.0

117.8 223.7

268.5 312.8

464.4

2007 2008 2009 2010 2011 2012 2013

Q4 Q3 Q2 Q1

17.2% YoY Growth

(25)

Buildi g ou high ield usi ess i Mi o & “ all…

(Rp Bn)

44,486 55,192

10,706

9M 2012 Growth 9M 2013

YoY 24.1%

Consumer Finance

(Rp Bn)

35,022 43,743

8,721

9M 2012 Growth 9M 2013

YoY 24.9%

Business Banking

(Rp Bn)

Micro Credit

16,760

24,898 8,138

9M 2012 Growth 9M 2013

YoY 48.6%

60 ,676

6

3 ,3

2

3

6 ,8

5

1

7

3 ,3

2

4

81 ,04

6

84 ,67

5

91 ,50

4

96 ,26

8

10 5,1

92

10 8,4

34

11 8,7

88

12 3,8

33

27.7% 28.6%

27.6%

28.3% 29.6% 29.6%

29.8% 30.2%

30.9% 31.8%

31.7%

31.3%

20% 22% 24% 26% 28% 30% 32%

30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000

4Q 20

2011

2Q 20

2011

2012

2Q 20

3Q 20

4Q 20

2Q 20

3Q 20

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

(26)

Strong Microfinance Growth

200 300

502 502 503 566 600

800 800

878

928 928 983 1,007

10 152

480 710

760 760 749 751

2008 2009 2010 2011 2012 1Q '13

2Q '13

3Q '13

Branch Unit Kiosk

271 430

562 694

815 844

879 886

2008 2009 2010 2011 2012 1Q '13

2Q '13

3Q '13

Customers (000)

Network

# Of New Customers

,56

,50

,32

,85

,03

0,0

1,0

146

,359

6,5

140

,064 ₁₃₁

,715

147

,825

8,7

0,6

6,1

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

(27)

13,500 14,268

15,523 16,466 17,779 18,764

,113

20,919 22,818 24_,092

26,135 27

,357

,957 3,964

3,979 3,949

3,887 3,777

3,67

3,571

3,471 3,365

3,312 3,240

6,374 6_,398

6,708 6_,861

,995

,143

7,41

7,753

8,206 8,386

8,958 9,374

3,589 3,575

3,761 3,910

4,296 4,245

4,492 4,590

5,035 5,025

5,195 5,303

2,826 3,454

3,492 4,200

5,115 5,829

6,593 6,609

7,209 7,486

7,905 9,013

447 698 791

873

928 964

1,016 1,037 1,010

966 927

904

0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 27,500 30,000 32,500 35,000 37,500 40,000 42,500 45,000 47,500 50,000 52,500 55,000 57,500

'13

Other Auto Credit Cards Payroll Loans Home Equity Loans Mortgages

…as ell as Co su e le di g, hi h ose

24.07%

Y-o-Y on Mortgages and Vehicles

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

(12.77%)

(2.44%)

Auto Loans*

36.37%

14.01%

Credit Cards

15.53%

2.09%

Payroll Loans

20.90%

4.64%

Home Equity Loans

(9.43%)

(2.18%)

Mortgages

30.78%

4.68%

Total Consumer

24.07%

5.26%

Quarterly Consumer Loan Balances by Type

Consumer Loan Growth by Type

Rp55.2 tn

*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 9.06Tn in our Commercial Loan Portfolio

(28)

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 11 .46 % 10 .00 % 9 .22 % 9 .1 % 9 .8 % 9.4% 10 .4% 9.5% 9.4% 8.6% 8. 2% 6.9% 5.9% _5.2% 4.5% 4.1% 4 .3 % 3.9% 4 .3

% 3.8

% 4 .0 % 4.0% 3.9% 0 2,0 00 4,0 00 6,0 00 8,0 00 10 ,00 0 12 ,00 0 14 ,00 0 16 ,00 0 18 ,000 20 ,00 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 S pec ial M ent ion C at 2 (% )

N

P

L

Mov

em

en

t

-C

onso

lida

ted

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% 116.0% 122.5% 138.9% 127.1% 116.6% 136.1% 155 .2 % 206 .0 % 191 .7 % 19 2.4 % ₁₅₅ .5 % 185.1% 185.2% 189.6% 193.4% 185.5% 187.6% 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 Gro ss N PL Rat io Pr o v/N PL

Gross

NPLs

1 .9

%

, coverage

at

187 .6

%

-Category

2 st

abl

e

at

3 .9

%

C

a

teg

or

y

2 Loans

27

(29)

Q3 Total NPLs Rp6.83tn with Rp880bn write-offs

NPLs (Rp tn)

3Q (Rp tn)

NPLs (%)

Corporate 2.60 0.14 1.62%

Commercial 1.02 (0.15) 0.92%

Small 1.38 0.15 3.15%

Micro 0.87 0.02 3.48%

Consumer 0.96 (0.01) 1.73%

Total 6.83 0.15 1.71%*

Non-Performing Loans by Segment

* Excluding loans to other banks.

Movement by Customer Segment (Rp Bn)

6.68

0.10

1.04

0.19

0.88

0.28 _6.83

2Q '13 UG to PL DG to NPL Payment Write-Offs Other 3Q '13

Non-Performing Loan Movements (Rp tn)

–

Bank Only

28

0 - - 48

118

249

314

223

444

182

163

178

-200 400 600 800 1,000 1,200

UG to PL DG to NPL W/O Corp Comm Micro Small Cons

(30)

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

_{3Q 2013 Details}

Loan Background

Q

Balance

(Rp bn)

Q3

2011

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

DG to

NPL

%

UG to

PL

%

Corporate

148,788.76

0.20

0.29 -

0.03

0.01

0.25

0.00

0.01

0.00

Commercial

105,398.97

0.13

0.00

0.25

0.15

0.05

0.27

0.24

0.05

0.10

0.00

Small

40,372.68

0.91

0.29

0.77

0.70

0.84

0.49

1.28

0.59

1.05

1.08

0.03

Micro

24,788.11

1.93

1.03

1.51

1.30

1.37

1.00

1.25

1.10

1.18

1.27

0.09

Consumer

54,681.47

0.33

0.08

0.32

0.24

0.25

0.07

0.28

0.18

0.17

0.29

0.12 Total

374,029.99

0.34

0.21

0.28

0.23

0.22

0.11

0.34

0.18

0.25

0.27

0.03 Q3 2013 annualized net downgrades of 1.0% on loans

originated since 2005.

# %

downgrades

and

upgrades

are quarterly % figures

(31)

Restructured Loans

21.7 18

16.9 16.2 16.6 16.4 16.2 17

17.1 15.3 15.2 14.3 13

13.5 14

13.9 14.0 11.7 11.7 12.0 12

5.0 7.0 9.0 11.0 13.0 15.0 17.0 19.0 21.0 23.0

'05

'06

'07

'08

'09

'10

2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3_Q'

1Q'13 2Q'13 3Q'13

Declining Restructured Loans Since 2005

Annualized Relapsed Rate of Restructured Loan Portfolio

30

1 .2

%

2 .7

%

0 .0

%

0 .3

%

0 .0

%

0 .0

%

0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0%

2008 2009 2010 2011 2012 2013

(32)

Total Assets Rp61.8 tn

Bond Trading Volume Rp38.5 tn

Total Assets Rp15.3 tn

Total Loans Rp692bn

Total Financing Rp8.6tn Total Financing

Rp49.7 tn

Equity & FI Underwriting Rp8.8 tn

Annual FYP Rp 2,271.6 bn

Net Interest Margin 11.27 %

Net Interest Margin 2.55% Total Deposits

Rp54.4 tn

Equity Trading Volume Rp90.9 tn

Fee Contribution Rp385.2 bn

ROA 1.87%

ROA 4.63% ROE

15.06%

ROE 11.82%

ROE 68.20%

ROE 8.71%

ROE 30.85%

•Remain the leader in syariah financing

•Capital injection program over 3 years

•Cross-sell syariah products to Mandiri customers

•Expansion of business to fully utilize current capital base

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

•Refocus business toward higher fee income

•Provide end-to-end bank assurance business

•Continue to build cross-sell opportunities in various segments

•Bank assurance products complete our suite of consumer offerings

•Enhance operating model

•Improve risk management systems and IT

•Improve productivity

• Use Ba k Ma di i s

network and customer throughout Indonesia to develop multi-finance segment, especially in vehicle-ownership financing.

Enhancing synergies & values from subsidiaries

Investment Banking

Syariah Banking Insurance Niche Banking

Bank Sinar Harapan Bali

Multi-Finance

(33)

375 566 852 966 1,1₄₆ 587 302 ₇₈ 257 576 884 761 1,054 1,110 1,016 398 341 425 606 694 1,3 06 1,3 69 1

,656 1,530

1,5 92 981 1,7 71 1,4 78 1 ,728 2 ,224 1 Q '10 2 Q '1 0 3 Q '10 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '12 2 Q '12 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '13 JF Non JF

Total Booking and the Breakdown for

Joint Financing and Non JF

_{Breakdown of Financing}

405 539 806 1,1

01 1,3 70 1,3 64 1 ,245 1,3 55 1

,353 1,609 1,420 2,0

2,1

,416 2,871 309 306

351

372

350 422 ₃₄₂ 312 373

486 396 401 372 346 289 61 79 118 99

118 109 84 67 60

72 49 56 56 76 80 1 Q '10 2 Q '10 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 '12 Q 3 '1 2 Q 4 '12 1 Q '13 2 Q '13 3 Q '1 3 Motorcycle Used Car New Car

9M 2013 Performance

Mandiri Tunas Finance:

Total Financing YTD of Rp. 8.6 Tn

32 (Rp Bn)

9M

2013

9M

2012

Change

Loans 14,697 10,410 41.18%

Net Income (after tax) 135.23 81.80 65.32%

Approval Rate (%) 89.89 86.94 2.95%

Disbursement 8,611 5,819 47.98%

NIM (%) 2.55 3.17 (0.62%)

ROA (%) 4.63 4.21 0.42%

ROE (%) 30.85 24.28 6.57%

CER (%) 44.37 47.63 (3.26%)

(34)

AXA

Man

di

ri

Fi

nan

ci

al

Servi

ces

Performance

N e t Pr o fi t Af ter Ta x (i n Bn ) An n u al Fi rs t Yea r Pr em iu m (AFY P) (i n Bn ) # Of P o lic yho ld er s 89 90 245 235 171 183 237 255 258 234 262 259 298 270 269 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 '13 403 599 549 673 820 742 769 946 796 892 712 667 695 850 726 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 2.0 % Y o Y Gr o w th 710,481 810,604 892,582 1,518,536 1,602,778 1,638,543 1,695,242 1,744,124 1,790,508 1,858,702 1,878,121 1,918,703 1,966,698 2,032,635 2,122,563 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 13 .0% Y o Y Gr o w th 2.7 % Y o Y Gr o w th

33

(35)

BMRI 2013 Targets

Target 2013

9M 2013 Realization

Gross Loan Growth (YoY)*

19% - 20%

23.4%

Low Cost Deposits (Consolidated)

>350 Tn

330.7 Tn

Net Interest Margins

~5.50%

5.41%

Efficiency Ratio

~45%

42.3%

Gross NPLs

<2.25%

1.90%

Cost of Credit

~1.1% - 1.3%

1.21%

# of New ATMs

1,500

# of New EDCs

25,000

–

50,000

28,717

# of New Micro Outlets

200 –

300

276 # of New Conventional Branches

60

35

34

(36)

35

Operating Performance

Highlights

(37)

36 Rp bn

2,976

1,213 664

536

4,317 86

4,403

522

1,075

393

1,088 1,375 1,106

824

954

1,403

1,717 1,138 ₄₁₆

1,187

1,385

1,311 1,144

1,011

1,035

1,438

2009 2010 2011 2012 2013 Q1 Q2

Q3 Q4

Corporate + Institutional Banking:

Contribution Margin increased on provision

13.6%

4,403

Performance to Date: 9M 2013

Contribution Margin (Profit Before Tax) Strategies for 2013

1. Focusing on 150 Top

Groups, MNCs, SOEs in several industries such as

Infrastructures, Food &

Beverages, Telco, Oil & Gas, Palm Oil Plantations, Oleochemical & Refinery, Cement & Pharmacy 2. Account Plan implementation for

top 100 Corporate Banking Customers.

3. P o ide o e stop se i e solutio s

fo usto e s t a sa tio s a d

create new business process to accelerate the execution of Account Plan including effective and

responsive Complaint Handling. 4. Strengthen business alliance with

Mandiri Sekuritas to ease customers in capital market 5. Refocusing overseas branches

business by offering products and services such as

loan, funding, trade finance & treasury to Indonesian-related companies.

3,326

3,910

3,569

(38)

Mandiri Sekuritas

fi a ial pe fo

a e

9M 2013

9M 2012

Y-o-Y



(%)

Revenues

378

268 42%

• Investment Banking

78

49 63%

• Capital Market

214

154 39%

• Investment Mgt

87

65 34%

• Asset Recovery

)

Operating Expenses

264

232 14%

Earnings After Tax

79 (29)

372%

Equity Transactions

–

bn

90,899

47,568

91%

SUN Transactions - bn

38,479

49,280

(22%)

Bonds Underwritten - bn

8,852

7,741

14%

ROA

7.2%

(2.3%)

413%

ROE

11.8%

(4.7%)

351%

(Rp Bn)

(39)

38

1. Optimize Off-Shore Branches as a regional treasury transaction distribution channel

2. Optimize Regional Treasury Office to serve FX transaction from export/import companies

3. Enhance custodian core systems to acquire new customers

4. Optimize capital market, remittance and trade businesses by launching new product and marketing initiatives

5. Maintain NPL Ratio with effective restructuring and joint effort with Business Unit

6. Continue construction process of new buildings (office and Mandiri University) to maintain customer satisfaction and improve employee skills and knowledge

7. Continue strategic sourcing implementation

8. Improve procurement process by enhance automated procurement system

Treasury, FI & SAM

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

•2011 Including collection from Garuda Indonesia (non recurring)

1,193

3,568

401 4,360

244 _4,604

455 724

3,091

1,159 1,548 348

1,338

389

1,164

1,396

316

1,247

954

911

1,660

263

1,540

1,660

2,200

2009

2010

2011

2012

2013

Q1 Q2

Q3 Q4 _42.4%

4,848

1,382

6,094

Performance to Date: 9M 2013

Contribution Margin (Profit Before Tax) Strategies for 2013

Rp bn

5,434

(40)

923 939 1,010

1,776 1,833

946 1,176 1,314

2,024 _1,800

1,166 _1,174 1,057

1,907

1,511

1,094 1,420

1,677

2,159

2009* 2010** 2011

2012

2013

Q1 Q2 Q3 Q4

•incl CM of Small Business & BSM

•**in June 2010 Decline due to PSAK50&55Implementation

5,471 597

998

849

6,217

1,073

5,144

Commercial Banking:

Strong revenues from Assets

(9.0%)

5,144

1. Support Bank Ma di i sWholesale 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 easi g e isti g usto e s

share of wallet, increasing revenue

f o e usto e s a d a agi g NPL s.

3. Provide the best total business solutions for customer 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 and Small segment, especially in developing value chain business.

4,449

4,709

5,058

Performance to Date: 9M 2013

Contribution Margin (Profit Before Tax) Strategies for 2013

Rp bn

7,866

(41)

6.3%

6 .6

%

6 .2

%

6.2%

6 .4

%

6.6%

6 .0

%

5 .9

%

6.9%

7 .5

%

6.9%

7.0%

7.4%

7 .1

%

7.3%

7.2%

4 Q '07 4 Q '08 4Q '0 9 1 Q '10

2Q'10 3_Q'

4Q'10 1Q'11 2_Q'

3Q'11 4Q

'11

1Q'12 2Q'12 3_Q'

4Q'12 1Q'13 2_Q'

13 3 Q' 13 12.4% 13.0% 12.7% 12.0% 12.1% 12.1% 12.3% 13.3% 13.2% 13.2% 13.0% 11.5% 12.0% 12.2%12.4% 12.3% 12.4% 11.9% 5.4 % 5 .7 % 5.6 % 4.7 % 4.9 % 5 .0 % 5.1 %

5.0% 5.5_% 5.4_% 5.2 % 4 .5 % 4.7 % 4.5 % 4 .5 % 4.6 % 4.0 % 4 .0 % 1 0 .31 13 .25 1 6 .06 1 7 .65 19 .87 21 .44 2 3 .97 27 .09 3 0 .01 3 4 .41 36 .73 3 7 .44 3 9 .93 41 .82 4 4 .50 4 6 .30 4 8 .40 49 .70 4Q '07 4Q '08 4 Q '09 1 Q '10 2Q' 10 3 Q' 10 4Q' 10 1Q '11 2 Q '11 3Q '11 4Q '11 1 Q '12 2Q '12 3Q' 12 4Q' 12 1 Q' 13 2Q' 13 3Q' 13 Financing

40 Strong growth from Bank Syariah Mandiri

91.1% 89

83.1% 83.9% 85

86.3% _82.7% _84.1% ₈₈

86.3% 86.2% 87

.2 % 92 .2 % 93.9% 93 .9 %

95.6% 94.2% 91

FDR

Syariah Financing (Rp tn)

Net Interest Margin & Cost of Funds

Financial Performance (Rp bn)

YoA

CoF

NIM

FY 08 FY 9 FY FY FY 9M

Financing 13,278 16,063 23,968 36,727 44,498 46,698

Deposits 14,899 _19,338 _28,998 _42,618 _47,409 _54,438

Assets 17,066 22,037 32,481 48,672 54,244 61,810

EAT 196.42 290.94 418.52 551.07 805.61 475.65

Ratios:

ROA 1.83% 2.23% 2.21% 1.95% 2.23% 1.51%

ROE 21.34% 21.40% 25.05% 24.24% 25.04% 15.06%

(42)

Commercial Banking :

Stronger Platform & Improved Distribution Capability

Expanding Scope of Distribution, 2013

Solid & Stable Source of

_{Low Cost Funds}

Product Q3

2013

2012 Growth Demand

Deposit 11.54 23.91 (51.7%) Rupiah _5.08 _16.44 _(69.1%)

FX _6.46 _7.47 _(13.5%)

Saving

Deposit* _0.92 _2.32 _(60.3%) Total CASA 12.46 26.23 (52.5%) Total Funding 16.09 36.92 (56.4%)

Rp Tn **

CASA Ratio = 77.4%

Funding from Java & Bali = 68.1% of total funding

Sumatera Loans = Rp 15.8 tn

Funds = Rp 2.8 tn

Kalimantan Loans = Rp 6.1 tn Funds = Rp 3.1 tn

Eastern Loans = Rp 2.4 tn Funds = Rp 0.2 tn

Java and Bali Loans = Rp 86.5 tn

Funds = Rp 9.4 tn

* Business Savings Product ** excl. BB

CBC = 25 Unit Floor = 27 Unit TSC = 13 Unit TSD = 19 Unit

(43)

BBC BB Floor

Medan

Makassar Banjarmas

in Surabaya Semarang

Denpasar Bandung

Pekanbaru

Palembang B.Lampung

Pontianak

Samarinda

Manado

Palu _Jayapura

Balikpapan Batam

Jambi Pematang siantar Padang

Bekasi Jakarta

Solo Tangerang Bogor

BBC : 41 BB Floor : 99 BB Desk : 105

Mandiri Business Lounge : 47

Business Banking :

Expanding Scope of Distribution, 2013

Solid & Stable Source of

_{Low Cost Funds}

Product Q3

2013

2012 Growth

Demand

Deposit 1.9 3.1 (38.7%)

Saving

Deposit* 2.2 0.9 144.4%

Total CASA 4.1 4.1 0.0%

Total

Funding 4.5 4.9 (8.2%)

Rp Tn**

CASA Ratio = 87.2%

Funding from Java & Bali = 60.4% of total funding

Sumatera Loans = Rp 12.0 tn

Funds = Rp 0.9 tn

Kalimantan Loans = Rp 6.0 tn Funds = Rp 0.4 tn

Eastern Loans = Rp 5.4 tn Funds = Rp 0.5 tn

Java and Bali Loans = Rp 20.3 tn

Funds = Rp 2.7 tn

•Business Savings Product

** Exclude mirroring with MRB Directorate

(44)

1,126

761 981 965

1,237 855

583

842 1,081

1,391 449

877

1,033

1,170

1,867

722

899

1,311

1,242

2009 * 2010* 2011 2012 2013

Q4 Q3 Q2 Q1

*Including Small Business

4,167

43

39.8%

2,406

5,475

3,476

6,019

5,338 843

4,495

1. Continue to develop retail

payment solutions for top

retail industry value chains

and business clusters in order

to increase low cost deposit

and fee-based income

2. Develop customer education

to further increase usage of

new retail products (e.g.,

pre-paid) as well as e-channel

transactions in order to

i

ease usto e s lo alt

and balances.

3. Continue to develop

integrated

branding, marketing strategies

and comprehensive

distribution strategy

(ATMs, Branches, EDCs

located at optimal locations)

Micro & Retail Banking:

Rapidly growing our high margin business

3,152 3,120

Performance to Date: 9M 2013

Contribution Margin (Profit Before Tax) Strategies for 2013

Rp bn

(45)

44

252 476

496

770 ₇₂₈

355

455 486

715 ₇₀₅

413

526 531

729

576

489

474

693

772

2009

2010

2011

2012

2013

Q1 Q2

Q3 Q4

2,010

1,509

Consumer Finance:

Significant growth in spread and fee income

(9.3%)

1,926

1. Develop clear portfolio

strategy, targeted to key

customer segments

2. Differentiate acquisition

strategy by markets

3. Increase existing cards

productivity

4. Strengthen Consumer Loan

organization structure to

support the achievement of

business target, internal

portfolio growth and the

increasing proportion of

market share

5. Improving technology in

credit process through Loan

Factory project (shared with

Consumer Card, Small &

Micro) to shorten credit turn

around time

6. Increasing alliance with other

Business Units to support the

achievement of business

targets

2,205

2,306

959

665 2,600

590 2,010

Performance to Date: 9M 2013

Contribution Margin (Profit Before Tax) Strategies for 2013

Rp bn

(46)

45

Supporting

Materials

(47)

8,978

3,913

5,483

7,408

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Pre-provision Operating Profit

3Q 2013 operating profit increased by 22.3% from 3Q 2012

on higher NII

3Q 2013

Notes :

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

3Q 2012

Rp billion

Up 22.3%

7,825

2,751

4,518

6,058

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Pre-provision Operating Profit

Rp billion

(48)

Breakdown of Net Expansion in Corporate Lending

Q3 13 –

Q3 12 (Total Rp24.27 tn)

Rp Billion

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

(3,854)

546 741

815 919

1,848 2,068 2,224 2,746 2,952 2,957 2,998 7,308

Others Mfg-Feed Trad-Distr Warehousing Mass Trans Mfg-Metal Mining-Oil & Gas Real Estate Comm Mining-Metal Ore Construction Mfg-Chem Plantations

%

30.11% 12.35% 12.19% 12.16% 11.31% 9.16% 8.52% 7.62% 3.79% 3.36% 3.05% 2.25% -15.88%

Rp Billion

Breakdown of Net Expansion in Commercial Lending

Q

– Q

(Total Rp24.58 tn)

514 560

616 776

1,106 1,146 1,356 1,363 1,575 2,105 2,769 2,778 3,371 4,545

Plantations Mfg-P&P Mining-Coal Trad-Dom Others Mfg-F&B Mining-Oil & Gas Trad-Ret Mfg-Metal Mass Trans Mfg-RawM Trad-Distr Mfg-Chem Bus Serv

%

18.49% 13.72% 11.30% 11.27% 8.56% 6.41% 5.54% 5.52% 4.66% 4.50% 3.16% 2.50% 2.28% 2.09%

(49)

Committed to Improving Shareholder Value

Reduce Cost of Funds

Improve Assets Yield

Diversify into Fee Income

Reduce Provision/Loan

Improve Cost Efficiency



Leverage on cash generator

(wholesale) to accelerate growth



Diversity into fee income

Competitive,

sustainable

returns, with

above-average

rates of growth

Business Strategy

Strategic

Alliances

Support Strategy

(50)

Strengthen leadership in wholesale

transaction banking



Comprehensive financing &

transaction solutions



Holistic relationship approach for

leading Indonesian institutions

Build #1 or #2 positions in key retail

financing segments



Win in mortgage, personal loan &

cards



Become a major player in

micro-banking



Champion Syariah in Indonesia

Be the retail deposit bank of choice



Win through differentiated

customer experience and

targeted propositions



Deploy innovative payment

solutions



44.3% market share in Corporate

lending*,

10.1% in Commercial lending*



2,252 Corporate customers



Target of 16% growth in

Wholesale funding & 21% in fees



# of Credit cards: 3.08 Mn



# of Debit cards: 11.10 Mn



# of Prepaid cards: 3.28 Mn



# of Mortgages: >174,000



Building on relationship with 13.7

million retail customers and their

employees, suppliers of

Corporate/Commercial businesses



Target 40% of total loan

Pillar 1

Pillar 2

Pillar 3

We Focus on 3 Main Pillars

49

(51)

…a d Offe I o ati e Pa

e t “olutio s

Pre-Paid Card Volume (000s)

489 774386 560 506 648 775 1,748 2,118 4,670 4,015 3,988 5,282 2,418

2,848_3,156 _3,326 3,741 3,966 5,072 5,908 8,146 11,680 18,356 20,211 22,112 21,752 22,741 21,156

28 7 ₉ _{14 19 14 12} _{14 9 214209} 139 136 19

272 1,502 2,231 4 Q '09 1 Q '1 0 2 Q '1 0 3 Q '1 0 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '1 1 1 Q '12 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 Indomaret e-Toll Gaz e-Money

Pre-Paid Transaction Volume (000s)*

50

*volume for quarter

 E-Moneyis the re-branding of prepaid Mandiri cards launched in October 2012.

 Can be used for Toll-road Transactions

(Jabodatabek), Parking (ISS Parking), Bus (Trans Solo & Trans Jogja), Fuel

(Pertamina Gas Stations), Retail Shops (Indomaret, Alfamart, Alfamidi, Lawson, Superindo), Restaurants (Solaria,

Excelso, Es Teller 77).

 Can be owned by all customers & non

customers with a maximum balance of Rp

1 million. Recharge available at Mandiri

ATM, ATM Bersama, E-money machines, and E-money merchants.

165.6 259.0 293.0 353.0 458.0 516.7 626.8 688.3 773.3 846.2 981.3 1,093.3 1,412.0 1,486.6 1,569.2 1,667.7 99.5 129.3 150.0 163.0 183.0 204.0 295.0 367.5 505.8 693.3 919.8 1,097.9 1,226.0 1,311.9 1,401.4 1,429.9 34.3 36.0 39.3 43.0 45.0 47.6 47.7 48.1 49.4 49.4 49.7 49.7

58.0 58.5

58.5 59.7 3.7 24.8

91.9 122.3

D ec -09 M ar -10 Jun -10 Sep -10 D ec -10 M ar -11 Jun

-11 Sep-11

D ec -11 Mar -12 Jun

-12 Sep-12

D ec -12 M ar -13 Jun -13 Sep -13 Indomaret e-Toll Gaz e-Money

(52)

Retail Value Chain in Gas Station & Telco Industry

Value Chain Gas Station

Value Chain of Top 3 Telco

Relationships

747 922 895 926 1,0

,252 _1,351 ₁,332 _1,453

2,745 3,346

3,368

3,429 3,478 3,527

3,538 3,563

3,601

-500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

(100) 100 300 500 700 900 1,100 1,300 1,500

Dec 10

Dec 11

Mar 12

Jun 12

Sep 12

Dec 12

Mar 13

Jun 13

Sep 13 Avg Bal

(Rp bn)

Total SPBU (unit)

93 144 133 137 144 184 184 199 185

88 196

197 221

227 244

249 ₂₆₅

274

-50 100 150 200 250 300

-50 100 150 200 250

Dec 10

Dec 11

Mar 12

Jun 12

Sep 12

Dec 12

Mar 13

Jun 13

Sep 13 Avg Bal

(Rp bn)

Total Authorized Dealer (unit)

(1)

95 As

set

and

liabi

lit

y

mi

x

rel

at

ive t

o peers

Bank Onl

y,

As

of Jun

2013

1.8% 2.3% 2.7% 2.9% 4.2% 4.4% 4.6% 5.1% 5.3% 5.5% BCA BNI Mandiri BRI CIMB Niaga Danamon BII Panin Permata BTN 79.6% 76.2% 75.3% 74.8% 73.8% 70.8% 69.2% 68.9% 67.0% 67.0% Permata Danamon BII BRI

CIMB …

BCA BTN Panin BNI Mandiri 80.9% 67.9% 65.0% 60.1% 58.7% 49.2% 45.7% 44.7% 39.4% 39.3% BCA BNI Mandiri Panin BRI BTN CIMB Niaga Danamon BII Permata 591,444 538,301 450,848 329,168 195,275 130,281 144,516 144,074 115,699 118,595 Mandiri BRI BCA BNI CIMB Niaga Panin Permata Danamon BTN BII

Loans

to

T

ot

al

Earning

As

s

et

s

(%)

C

ost

of

F

und

s

(p.a.

)

(%)

T

ot

al

As

s

et

s

(Rp

bn

)

Low

C

ost

D

epo

s

it

R

atio

(%)

11.5% 10.0% 9.5% 8.9% 8.9% 8.3% 8.2% 7.6% 7.4% 7.3% Danamon BRI BTN Panin CIMB Niaga BII Permata BCA BNI Mandiri

Y

ield

on

As

s

et

s

(p.

a.

)

(%)

451,275 438,966 378,471 253,604 142,898 90,522 105,704 105,013 89,914 76,492 Mandiri BRI BCA BNI CIMB Niaga Panin Permata Danamon BII BTN

T

otal

D

epo

s

it

s

(Rp

tn

)

A v e rag e

(2)

96 Eff

ici

en

cy meas

ures

rel

at

ive t

o

peers

Bank Onl

y,

As

of Jun

2013

38.7% 41.7% 42.6% 43.4% 43.6% 44.7% 46.1% 60.0% 60.6% 61.8% Mandiri BCA Danamon BRI BNI

CIMB …

Panin Permata BTN BII 596 501 332 287 256 235 227 209 150 54 BCA Mandiri BNI

CIMB …

BRI Danamon Panin BII BTN Permata 18,397 14,241 14,226 11,876 11,873 11,705 9,991 9,871 5,621 BCA Permata Mandiri BTN BII Panin CIMB Niaga BNI BRI 13,629 13,120 12,926 11,828 10,638 10,080 9,608 8,292 5,017 1,470 BCA BTN Permata Mandiri Panin BII CIMB Niaga BNI BRI Danamon

Prof

it

/

Em

ploy

ee

(Rp

Mn

)

C

ost

/

Incom

e

(%)

Loans/

Em

ploy

ee

(Rp

Mn

)

D

epo

s

it

s

/

Em

ploy

ee

(Rp

Mn

)

368 311 205 194 156 154 151 142 106 33 BCA Mandiri BNI CIMB Niaga BRI Danamon Panin BII BTN Permata

Pre

T

ax

I

ncom

e/Em

plo

y

ee

(Rp

Mn

)

8.3% 4.4% 4.3% 4.3% 4.1% 4.0% 3.4% 3.4% 3.2% 2.6% Permata BNI BTN BRI BCA

CIMB …

BII Mandiri Panin Danamon

C

os

t/

As

s

e

ts

(%)*

_*Ann

ua li z e d A v e rag e

(3)

97 Measur

es

of s

cal

e and

retur

ns rel

at

ive t

o

peers

Bank Onl

y,

As

of Jun

2013

33.1% 25.6% 24.6% 21.8% 19.3% 15.5% 15.3% 15.3% 14.2% 13.9% BRI Mandiri BCA BNI CIMB Niaga Danamon Panin Permata BII BTN 1,929 1,835 1,772 1,515 1,028 972 767 496 421 300 BRI Mandiri Permata BNI BCA CIMB Niaga BII Danamon BTN Panin 8.6% 8.1% 6.2% 6.0% 5.4% 5.4% 5.4% 4.6% 4.4% 4.0% Danamon BRI BNI BCA Mandiri CIMB Niaga BTN BII Permata Panin 78,094 65,577 31,721 25,692 20,572 14,303 9,031 7,573 7,374 6,441 BRI Danamon Mandiri BNI BCA CIMB Niaga Panin BII Permata BTN

Branc

hes

R

eturn

on

Equ

it

y

(Aft

er

T

ax

)

(%)

Em

ploy

ees

N

et

Interest

M

arg

ins

(%)

4.6% 3.5% 3.4% 3.4% 3.4% 2.8% 1.9% 1.6% 1.6% 1.4% BRI Mandiri BCA BNI Danamon CIMB Niaga Panin BTN Permata BII

R

eturn

on

Ass

ets

(Be

fore

T

ax

)

(%)

14,604 12,429 11,454 8,441 2,537 1,499 1,467 1,388 922 843 BRI BCA Mandiri BNI CIMB Niaga BII Permata BTN Danamon Panin

A

T

M

s

A v e 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

ANDALAN ARTHA ADVISINDO SEKURITAS Adriana Indrajatri Suwono 6221-299-16600 A.Indrajatri@aaasecurities.com

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

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

BARCLAYS CAPITAL Anish Tawakley 91-2267196016 Anish.Tawakley@barclays.com

CITI INVESTMENT RESEARCH Salman Ali 6221-5290-8548 Salman1.Ali@citi.com

CLSA LIMITED Jayden Vantarakis 6221-2554-8834 Jayden.Vantarakis@clsa.com

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

DAIWA CAPITAL MARKETS Srikanth Vadlamani 65-64996570 Srikanth.Vadlamani@sg.daiwacm.com'

DANAREKSA SEKURITAS Eka Savitri 6221-3509-777 Ekas@danareksa.com

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

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

GOLDMAN SACHS (ASIA) Ben Koo 65-6889-2483 Ben.Koo@gs.com

HSBC LTD Kar Weng Loo 65-6239-0654 Karwengloo@hsbc.com.sg

INDO PREMIER SECURITIES Stephan Hasjim 6221-57931168 Stephan.Hasjim@ipc.co.id

J.P. MORGAN ASIA Harsh Modi 65-68822450 Harsh.w.modi@jpmorgan.com

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

MACQUARIE CAPITAL SECURITIES INDONESIA Nicolaos Oentung 6221-515-7308 Nicolaos.Oentung@macquarie.com

MORGAN STANLEY Nick Lord 65-6834-6746 Nick.Lord@morganstanley.com

NOMURA Wilianto Ie 6221-2991 3341 Wilianto.ie@nomura.com

OSK (ASIA) SECURITIES Rocky Indrawan 6221-6232 3832 Rocky.indrawan@sg.oskgroup.com

SANFORD C. BERNSTEIN Kevin Kwek 65-6230-4650 Kevin.Kwek@bernstein.com

STANDARD CHARTERED BANK Jaj Singh 65-6596-8518 Jaj.Singh@sc.com

UOB KAY HIAN Emerentia Rufina Tam 6221-2993 3917 Emerentiatam@uobkayhian.com

(6)