09 07 29 Q22009AnalystsMeeting
PT Bank Mandiri (Persero) Tbk
k
(
) bk
Q2 2009
Q2 2009
Results Presentation
Results Presentation
Share Information
4,000
Per 30 June 2009
Description
3 500
3,500
BMRI
DOMESTIC
1. Government of RI
2. Retail
3. Employees
4. Cooperatives
5. Foundations
6. Pension Funds
7. Insurance Cos.
8. Banks
9. Corporations
10 Financial Institutions
10. Financial Institutions
11. Mutual Funds
Total
INTERNATIONAL
1. Retail
2. Institutional
Total
JCI
3,000
2 500
2,500
2,000
1 500
1,500
1,000
500
TOTAL
No. of
Investors
Investors
%
1
11,494
8,868
4
11
149
41
1
146
1
118
20,834
0.00%
53.55%
41.31%
0.02%
0.05%
0.69%
0.19%
0.00%
0.68%
0 00%
0.00%
0.55%
97.06%
84
548
632
21,466
No. of shares
%
14,000,000,000
274,599,808
191,307,923
80,000
11,077,000
235,132,500
274,074,000
181,000
325,650,437
2,050,000
2 050 000
786,467,000
16,100,619,668
66.80%
1.31%
0.91%
0.00%
0.05%
1.12%
1.31%
0.00%
1.55%
0 01%
0.01%
3.75%
76.82%
0.39% 3,421,500
2.55% 4,854,812,931
,
,
,
2.94% 4,858,234,431
0.02%
23.16%
23.18%
20,958,854,099
100.00%
100.00%
0
+56.79%
JCI
+286.28%
+49.53%
11‐Jan‐‐09
+370.37%
11‐Apr‐‐09
BMRI
11‐Oct‐‐08
Jan 1 2009
11‐Jul‐0
08
11‐Jan‐‐08
IPO
11‐Apr‐‐08
11‐Oct‐‐07
11‐Jul‐0
07
11‐Apr‐‐07
11‐Jan‐‐07
11‐Oct‐‐06
11‐Jul‐0
06
11‐Jan‐‐06
11‐Apr‐‐06
11‐Oct‐‐05
11‐Jul‐0
05
11‐Jan‐‐05
11‐Apr‐‐05
11‐Oct‐‐04
11‐Jul‐0
04
11‐Apr‐‐04
11‐Jan‐‐04
11‐Oct‐‐03
11‐Jul‐0
03
from:
85
Bank Mandiri Presentation Contents
Results Overview
Page #
2
H1 2009 Financial Highlights
H1 2009 Growth Momentum and Balance Sheet
3‐4
Loan Growth & LDR
5‐7
Strategy Overview
8‐9
Deposit Franchise Development
Net Interest Margins
10‐14
15
High‐Yield Lending Activities
16‐18
Wholesale Lending, Fees and FX Activities
19‐21
NPL Movement, Asset Quality & Provisioning
o e e , sse Qua y
o so g
22‐24
New NPL Formation and NPL Restructuring Progress
25‐27
Enhancing Risk Management
28
Overhead Expense Details
29
Leveraging SBU Alliances & Subsidiaries
30‐32
Operating Profit & Summary P&L
33‐34
CAR, ROE, PAT
35
Operating Performance Highlights
Operating Performance Highlights
36‐44
36
44
Supporting Materials
45‐84
1
Key Financial Highlights
Bank Mandiri’s H1 2009 Performance continued to demonstrate marked
p
y
improvements in several key indicators:
H1 ‘08
H1 ‘09
%
Rp149.6 tn
Rp181.6 tn
21.4%
0.97%
1.00%
3.1%
4.74%
4.78%
0.8%
64.0%
56.7%
(11.5%)
Rp151.2 tn
Rp162.7 tn
7.6%
NIM
5.25%
5.35%
1.9%
Efficiency Ratio
44.4%
38.9%
(12.3%)
2,610 bn
b
2,927 bn
b
12.1%
Loans
Net NPL Ratio
Gross NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
f
2
Maintaining momentum for growth
Loans by SBU*
(Rp Tn)
160
Micro
Comm
140
120
100
80
60
40
1.73
7.56
10.66
25.85
0.95
20
29.94
Small
Int'l
Cons
Corp
Deposits by Product – Bank Only
(Rp Tn)
Y‐o‐Y
4.38 4.55
4.84
40.0%
15.50
20.1%
14.10
4.04 14.82
13.42
20.56
3.46
19.27 19.66
12.90
2.68 2.90
18.74
13.08 12.49
17.52
41.88
2.20
41.56 40.64
14.23 15.74
1.94 9.91
38.71
8.86
12.78
36.48
11.08
4 41 4.40
4 44 4.41
4.44
31.46 32.75
4.33
28.90
4.06
24.36
2.82 3.39
0.91 2.14
62.04 64.12 65.84
55 17
55.17
44.84 42.27 47.77
36.12 34.67
17.3%
275
250
50
FX Time
FX Demand
FX Savings
97.90
54.6%
17.52
29.5%
45 36
45.36
9 8%
9.8%
8.32
7.8%
81.54 76.29 80.81 75.80 82.23 77.24 82.79
2.5%
16 16
16.16
16.07
95.69
14.72
15.65 12.56
91.94
73 43
73.43
63.34 78.16
66.70
150
93.20
15.09
80.47 9.78
125
13.53
11.88
50.43
100
75
37.8%
23.6%
14.69
175
8.3%
21.35
18.15
15.93
225
200
14.8%
Rp Time
Rp Demand
Rp Savings
Y‐o‐Y
9.07
11.39
33.61
50
30.12 4.12
3.50
25
57.61
45.17
41.30
36.39
4.70
5.36
7.72
19.51
10.49
51 82
51.82
43.97
6.37
7.38
42.99
8.15
0
0
Q4 '05
Q4
05 Q4
Q4 '06
06 Q3
Q3 '07
07 Q4
Q4 '07
07 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09 Q2
Q2 '09
09
Q4 '05
Q4
05 Q4
Q4 '06
06 Q4
Q4 '07
07 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09 Q2
Q2 '09
09
*Cash Collateral Loans have been reallocated to Small Business
3
Strong and liquid balance sheet
(Rp Bn, Bank Only)
Amount
% of
Assets
5,606
1.67%
SBI & BI Placement (net)
28,312
Placement w/other banks
(net)
( )
Marketable Securities (net)
Assets
Amount
% of Liab.
Current Account
62,882
18.69%
8.41%
Savings
91,112
27.07%
29,001
8.62%
Time Deposits (Rp)
97,900
29.09%
8,748
,
2.60%
Time Deposits (Fx)
p
,
18,148
5.39%
87,840
26.10%
Total Deposits
270,042
80.25%
Loans (Gross)
164,535
48.89%
Securities Issued
637
0.19%
Provisions
(12,037)
(3.58%)
Deposits from other banks
7,032
2.09%
Other Advances (net)
6,040
1.79%
Borrowings
5,755
1.71%
Investments
3,523
1.05%
Other Interest bearing liabilities
2,801
0.83%
Other Assets
14,947
4.44%
Non Interest bearing liabilities
18,810
5.59%
Equity
31 439
31,439
9 34%
9.34%
336,517
100.00%
Cash
Government Bonds
Total
336,517
100.00%
Liabilities
Total
4
FX LDR continues to decline along with FX Loans
FX Loans
(USD million)
3,765
3,158
984
895
55 3
FX Loans* & LDR
4,254
(770)
4,011
582
3,755 3,822 247
248 34
34 44
32 3 282
32
282
22
22
3,348
45 6 38
687
730
694
382 3,084 3,052
691
33 9 378 399
16
6
6
132
45
45
617 132
617
980
Loans (Rp tn)
LDR (%)
131.1%
123 7%
123.7%
111.0%
104.4%
102.5%
95.9%
80.5% 78.3%
550
588
290
68.5%
282
30.1
34.3
35.3
3
36.6
1,969 2,052
34.3
1,834
33.4
2,306
3
37.6
2,998
33.8
2,731 2,820
31.3
2,908
466
1,163
2005
2006
Current
2007
Q1 '08
S.Mention
Q2 '08
Q3 '08
Sub Standard
Q4 '08
Q1 '09
Doubtful
Q2 '09
Loss
005
2005
006
2006
00
2007
Q
08 Q
08 Q3
08 Q
08 Q
09 Q
09
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
*Excluding loans to other banks and restructuring losses
5
LDR of 62.2% reflecting strong liquidity…
Quarterly Loan Data – Consolidated
Quarterly Loan Segment Details – Bank Only
Corporate
Commercial
S ll
Small
Micro
Consumer
Loans (Rp tn)
65.0%
% 63.2%
63 2%
62.2%
62.2%
59.2%
LDR (%)
LDR (%)
53.7%
57.2% 56.4%
54.3%
42.5%
40 2 38.2
40.2
35.4%
42.3
76.4
68 7
68.7
55.4
53.6
50.5
35.7
32.6
36.4 35.5
32.5
22.2
26.3%
1.5
11 1
10 7 11.1
10.7
11 7
11.7
10.2
10.0
3.7
3.5
4.0 4.4
4.6
4.8
Q1 ''09
Q2 ''09
Q4 ''08
2.9
Q3 ''08
QoQ Growth (%)
YoY Growth (%)
2.7
Q2 ''08
1.4%
15.1 14.4 15.8
13.7 13.1 13.3 13.8
Q1 ''08
3.7%
43.8 42.6 43.6
19.7 20.6
17.5 18.7 19.3
15.8
14.3
Q3 ''07
21.4%
2.1
Q2 ''07
30.5%
Q4 ''06
Q4 ''05
Q4 ''04
Q4 ''03
Q4 ''02
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
By Segment
(Bank only)
1.9
Q1 ''07
7.6
1.7
39 1 41.2
39.1
Q4 ''07
181.6
175.2
174.5
162.8
149.6
135.5
138.5
121.7
116.3
114.3
117.7
106.9
94.4
75.9
65.4
48.3
43.0
8.5
61.1
59.7
44.7
31.4
78.8 79.7
Loans
(Rp tn)
Y‐O‐Y Growth
(%)
% of
Portfolio
Corporate
79.66
30.43%
48.41%
Commercial
43.64
11.58%
26.52%
Small
15.84
18.71%
9.63%
Micro
4.84
39.98%
2.94%
Consumer
20.56
17.35%
12.50%
Total
164.54
22.33%
100.00%
As of June 2009; Non‐consolidated numbers
6
Rp20.4tn in loans disbursed in Q2 ‘09
Loan Disbursement by Segment (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only
4.25
20.44
7.32
4.13
2.22
0.27
1.10
164.54
160.07
1.92
4.09
20.44
11.12
Q1 '09
Disburs.
Install.
Payment FX Impact Write‐Offs
Q2 '09
Corporate
Commercial
Small
Micro
Cons Fin
Total
7
Committed to Improving Shareholder Value
Reduce Cost of Funds
Reduce Cost of Funds
Business Strategy
Improve Assets Yield
Diversify into Fee Income
Competitive,
sustainable
sustainable
returns, with
above‐average
rates of growth
t
f
th
Reduce Provision/NPL
d
ii /
Support Strategy
Strategic
Alliances
Reduce Cost Efficiency
Leverage on cash generator to
accelerate growth in higher yield
business
8
Building on our Business and Support Strategies
with an Alliance Focus
with an Alliance Focus
Alliance Strategy Focus
Cross sell products to
employees as customers:
employees as customers:
‐ Payroll
‐ Mortgage or auto loans
‐ Corporate/ Retail cards
Corporate
SBU
Strategic
Alliances
Business Strategies
Improving supplier network and
distributor
‐ Providing basic transaction
and cash management
‐ Supporting suppliers and
distributors in working capital
financing
1. Strengthening our deposit franchise, to become
primary payment bank
2. Developing high yield business
3. Enhancing wholesale franchise and diversifying
wholesale transactions
4 Connecting the business, leveraging synergy
4.
Connecting the business leveraging synergy
5. Non‐organic growth & synergy in optimizing
subsidiaries
Cross sell products for employee as customers : Payroll, mortgage, auto
loans commercial / retail cards
loans, commercial / retail cards
Developing wealth management for individual Director or owner operators
Support Strategy
Efficiency
Risk Management
Increase IT Operations
efficiency and
centralized and
consolidated
procurement
Increase earning assets
monitoring and
perfecting early
warning signal
Consolidated risk and
monitoring subsidiaries
Human Capital
Enhance employee
productivities and
internal culture
Apply best practice for
recruit, retain and
develop
Information Technology
Implement Business
Solution Excellence to
support payment bank
strategy
Performance Culture
Apply Value Based
Management as the
next step of
Performance Culture
Implement Service
Excellence Strategy to
support business growth
b i
h
and services
9
Q2 Deposits rise 22.0% Y‐o‐Y
Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
Rp Demand Deposits
Rp Time Deposits
Low‐Cost Deposits (%)
FX Savings Deposits
FX Demand Deposits
FX Time Deposits
13.1%
13.9%
57.0%
31.4%
44 5%
44.5%
58.6%
57.2%
59.2%
57.8%
97.9
19.5
17.5
7.4 8.2 8.3
7.7
4.7 5.4
54
64
6.4
4.9 4.7
9.3%
9.1% 8.7%
7.4%
7.4%
6.3%
3.8% 4.2%
3.2% 3.0% 2.9%
3.4%
3.5%
3.6%
2.6%
2.5%2.5% 2.2% 2.8%
3.7%
3.0%
45.4
43.0
51.8
44.0
41.3
35.4
31
1.0
33.6
30.1
28.0
33.1
1
36.4
50.4
11.9
18.1
78.2
69
9.1
66.7
63.3
91.9
95.7
16
6.1
14.7
73.4
13.7
14.6 11.2
13.5
10.5
6.9%6.8%
4.7%
6 1%
5% 6.1%
15 1
15.1
9.8
8.2%8.0% 8.3%
7.4%
5.3%
9.5%
9 2%
9.2%
8.8%
7.4%
3.3%2.8%
2.5%
0%
FX DD
FX TD
6%
4.0%
3.7%
3
7% 3.9%
3 7%
3.7%
4%
3.32%
2.8%
2.6%
3.5
2%
82.8
77.2
82.2
75.8
80.8
76.3
81.5
65.7
62.5
57.2
57.6
45.2
52.0
40.6
24.8 29.6
31.118.0
14.1
14.3
31.2 22.1
28.8
4.1 4.2
70
0.0
72.9
8
80.5
93.2
66.5
80.5
11.9 11.4
12.1
13.9
12.6
11.6
17.3
100.7
106.9
9.1 10.2
91
9.1
50
25
20.6
23.4
97.1
1
75
87.8
100
21.5
125
16.5
150
15.7
200
14.7
15.9
225
16.2
250
175
10.9%
10.4%
11.4%
9.9%
32.9%
23.1%
Rp Savings
1 Mo. SBIs
11.9%
10% 9.5%
45 3%
45.3%
21.4
275
54.2%
61.5%
Rp DD
Rp TD
15%
0
2.4%
2.1%
1.6% 1.8%
1.9%
0%
1.1%0.9%
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q4 '99
10
Building a strong savings deposit franchise…
Transaction channel growth
Savings Deposit Growth
Savings Deposits (Rp tn)
Other
Other
Payment
Transfer
Withdrawal/Inquiry
Avg ATM Daily Vol (000)
A % fT lD
As % of Total Deposits
i
National Share of Savings Deposits (%)
63.20
57.09 55.80 61.63 106.55
97.39
74.71
84.70
54.48
51.04 65.9
49.59 58.76
55 00
55.00
40.0%
38.6%
35.6%
34.6%
1,1
158.9
1,1
100.5
1,0
043.4
9
976.7
8
899.7
8
853.4
6
677.0
6
607.5
29 2%
29.2%
4
492.1
22.8%
30.81
19.6
33.7%
32.8% 33.4%
1,0
088.8
30.6%
37.37
39.07
29.79
29.3
22.7%
18.5%19.1%19.3%
17.5%
%
% 18.0%17.3%
17.9%
17.2%
16 9%
16 2%16.9%
16.2%
16.0%
Quarterly Call Center Trans. (000)
12.8%
11.6%
3,165
Quarterly SMS Trans. (000)
15.3%
11.0% 11.7%
2,955
2 784
2,988
2
988 2,784
17,969
19,772
18,116
22,328
25,819
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
16,974
Q4 '06
33,502
11,575
Q4 '05
679
1,069
, 3,072
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
1,086
1,016
6,988
27
3,009
Q4 '04
91.11
85.39
89.61
82.16
88.52
81.65
81.54
57.60
45.20
52.00
40.50
29.59
22.12
17.96
1,722
3,029 3,464
11
...through vastly improved service levels...
MRI Survey: Best Bank in Service Excellence 2008
2004
2005
87.04
89.13
86 81
86.81
84.57
87.17
Mandiri
3
2007
2006
89.64
2
Mandiri
1
2008
89.82
Mandiri
1
89.24
89.03
88.00
85.85
86.91
87.65
87.82
85.76
85.91
86.70
87.32
84.66
85.30
86.18
84.01
81.38
84.15
84.80
81.31
83.04
83.06
80.67
80.69
81.86
82.11
80.36
80.12
81.00
81.04
79.33
Mandiri
82 46
82.46
80.53
83.11
80.00
81.79
78.77
78.62
75.69
73.92
Mandiri
11
73.50
76.46
80.80
79.29
78.49
12
…and enhanced transaction capabilities
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
125
122.88
ATM
Branch
SMS Banking
Internet Banking
80
77.10
70.10
Debit Cards
99.83
Internet Banking
57 66
57.66
64.68
8,000
7,629
7,202
49.11
77.89
7,000
69.97
6,642
40.71
5,752
6,000
35.54
40
5,116
4,793
4,355
5,024
31.87
5,000
50
42 11
42.11
35.10 36.24 36.55
9,950
8,828
9,000
60
60
10 006
10,006
SMS Banking
SMS Banking
10,000
110.13
88.75
67.76
11,000
114.98
100
75
Quarterly Users (000s)
38.51
25
16.97
19 77
19.77
42.28
40.59
41.39
33.50
25.82
22.33
4,000
ATM
SMS Banking
Internet Banking
20
3,652
2,989
3,000
2,000
2,413
1,897
,
1,523
11.57 12.24
8.33
0
0
1.71 2.39
0.84 1.31
1,111
8.32
6.08
3.37 5.55
0.56
0
0
0.28
1.60
2.20
4.044.75
3.61 3.81
0.36 0.55
0 1
0.71
1 02
1.02
0.88
1.811.28
1 281.43
1 43
1,000
0
0
849
564 705
469
358
1,089
988
Q2 '09*
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
* Inactive cards have been purged
13
Enhancing deposit franchise, building on
wholesale transactions
Cash Management Growth in Commercial Banking
Wholesale Deposit Growth (CASA)
(Rp tn)
Q2 Transactions (000s)
21
2.1
Comm Savings
Comm Demand
Corp Savings
Corp Demand
# of Customers
Q1 Transactions (000s)
+20.8%
1.4
1.8
21 0
21.0
18.1
19.4
0.6
0.7
12.1
10
1.0
4,910
14.8
632
4,066
239
34.0
24.9
36.5
35.2
407
2,414
23.0
154
745
2005
2006
2007
2008
Q2 '09
2007
2008
2009
2006
2007
2008
H1 '09
14
Q2 NIM of 5.3% on asset yields of 9.9%
Quarterly Net Interest Margins*
13.0%
Quarterly Yields & Costs by Currency*
20% 18.9%
Yield on Assets
Cost of Funds
13.0%
IDR
15.9%
15% 14.0% 13.1%
14.0%
10.8%
11.0%
10.7%
10.8%
10.7%
10.5%
9.9%
10.1%
9.5%
9.4%
9.0%
8.9%
7.4%
10.8%
6.9%
5%
13.2% 12.9%
12.9%
12.0%
10.4%
11 7%
11.7%
8.8%
8.2%
8.0%
7.7%
11.1% 10.9% 10.6%
8 5%
8.5%
8.3% 10.3%
9.1%
8.0%
7.4%
5.0%
5.4%
4.6%
4.0%
5.8%5.9%5.3%
0%
6.4%
6.3%
12.1%
8.2%
9.3%9.2%
7.3%
4 8%
4.8%
NIM
10%
12.5%
11.1%
13.2%
11.9%
5.5%
5.3%
4 9%
4.9%
4 8%
4.8%
4.5%4.3%
Avg Loan Yield
Avg 1‐Mo. SBI
Avg Bond Yield
Avg COF
15%
4.2%
3.8%
10%
FX
9.5%
7.6%
6.5%
7.3%
5.1%
5.3%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
4.9%
5.5%
4.9%
3.6%
4.3%
3.7%
2.8%
3.9%
2.4%
3.8%
5.3%
4.0%
0%
1.4%
1.8%
5.3%
5 8%
5.8%
6.8%
6.5%6.6%
5.3%
4.9%
2.7%
3.0% 2.7%
3.4%
3.5%
2.6%
2.2%0.5%0.4%
2.3%
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
*Excluding the impact of non‐recurring interest income
5% 6.7%
5 7%
5.7%
15
Building our high yield business in Micro & Small…
Small Credits
(Rp Bn)
Micro Credits
(Rp Bn)
Loan
Yields
13.6%
21.9%
14.0%
2 94
2,594
2,594
1,382
Q2 2008
Growth
18,109
20.1%
15,515
5
Q2 2009
15,496
Growth
12,902
4,839
3,457
7
39.9%
Q2 2008
Consumer Loans
(Rp Bn)
Q2 2009
16.7%
Q2 2008
Growth
Q2 2009*
*Excluding Credit Cards
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
0
572
438
313
1,937
2,232
664
824
464
2 456
2,456
3,063
1,363
882
295
TOTAL
Cash Coll
TOTAL
Coops
Unsecured Micro
Program
Micro
Non‐Prog
Rural Banks
Mortgage
Home Equity Payroll Loan
Loan
Other
Total
16
…as well as Consumer lending, which rose 17.3%
g g
y
Y‐o‐Y on Mortgages and Payroll Loans
Quarterly Consumer Loan Balances by Type
Consumer Loan Growth by Type
Rp20 56 tn
Rp20.56 tn
Other
22,000
3,983
3
3,99
93
3
3,658
Other*
56.25%
10.35%
Credit Cards
22.14%
8.93%
Payroll Loans
12.04%
2.90%
Home Equity Loans
Home Equity Loans
0 05%
0.05%
0 18%
0.18%
Mortgages
22.43%
5.22%
Total Consumer
17.34%
4.58%
8,814
8,3
376
8,052
7,717
Q‐o‐Q
3,704
3,697
3,721
3,761
1
3,865
7
7,199
3,404
3,663
6,393
3,522
3,610
5,382
3,666
3,574
4,501
3,867
3,452
3,390
3,979
3,437
3
3,612
3,70
02
3,010
3,192
1
1,908
425
2,789
1,426 2,644
2
1,358 2,427
1,293 2,285
1,241 1,996
3,250
815 1,802
328
0 283
4,033
2,000
3,050
21
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q4 '05
Q4 '03
2,852 1,522 Q4 '04
4,000
4,131
1,270 1,921
6,000
1,279 1,906
1
72
8,000
1,367 1,930
10,000
218 224 230
1,231 2,,165
180 196 211
350
1,678
12,000
3,9
999
495
1,926
6
14,000
Y‐o‐Y
4,099
619
2,008
16,000
2,251
956
1,279
9 2,223
Mortgages
1,14
45 2,113
Home Equity Loans
18 000
18,000
Loan Type
Growth (%)
2,4
452
Payroll Loans
1,353
20,000
1,493
Credit Cards
* Auto & Motorcycle Loans channeled or executed through finance
companies = Rp4.76 tn in our Commercial Loan Portfolio
* Auto loans through Tunas Finance of Rp252 bn booked in the
Consumer Loan Portfolio in Q2
17
11
68
3
72
17
67
19
62
17
58
9
61
10
62
32
57
59 19 39
63 63 59
42
18 8
68
81
56
23
24
10
59
62 16
61 57
226
338
651
752 765
784
817
872
919
18
52
54
Transfer Balance
Cash Advance
Retail
1,486
1,409
1,331
1,273
1 226
1,226
1,159
1,089
1,033
966
Receivables (Rp Bn)
Cards (000s)
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
Mandiri Visa & Mastercards and EOQ Receivables
1,486k Visa & Mastercards transacted Rp2.27 tn
in Q2 2009
2,163
3
Q2 '09
1,891
1
Q1 '09
1,914
4
Q4 '08
1,904
4
Q3 '08
1,668
8
Q2 '08
1,443
3
Q1 '08
1,514
4
Q4 '07
1,225
5
Q3 '07
1,067
7
Q2 '07
936
6
Q1 '07
836
6
Q4 '06
755
5
Q3 '06
621
1
Q2 '06
553
3
Q1 '06
600
0
Q4 '05
606
6
Q3 '05
532
2
Q2 '05
521
1
Q1 '05
535
5
Q4 '04
2,452.2
2
Q2 '09
2,251.0
0
Q1 '09
2,223.2
2
Q4 '08
2,112.7
7
Q3 '08
2,007.7
7
Q2 '08
1,925.9
9
Q1 '08
1,907.5
5
Q4 '07
1,677.6
6
Q3 '07
1,426.2
2
Q2 '07
1,357.5
5
Q1 '07
1,292.8
8
Q4 '06
1,230.7
7
Q3 '06
1,240.8
8
Q2 '06
1,279.4
4
Q1 '06
1,367.4
4
Q4 '05
1,270.2
2
Q4 '04
814.9
9
Q4 '03
567.5
5
Q4 '02
Diversifying our strength in Wholesale lending…
Breakdown of Net Expansion in Corporate SBU Lending
Q2 ’08 – Q2 ’09 (Total Rp18.07 tn)
%
Breakdown of Net Expansion in Commercial SBU Lending
Q2 ’08 – Q2 ’09 (Total Rp5.34 tn)
%
1,565
71 03%
71.03%
Agri
989
27.62%
Mfg‐F&B
759
45.43%
Other
664
7.93%
Mass Trans
644
38.99%
Mfg‐Oth
354
5.06%
57.89%
Constr
334
6.58%
596
11.41%
Mfg‐Text
318
20.23%
Trad‐Distr
403
29.09%
Mfg‐P&P
g
275
21.92%
Other
249
32.61%
Trading‐H&R
266
27.58%
Soc Serv
209
122.30%
Mfg‐NonM
195
101.57%
Mf F&B
Mfg‐F&B
4 970
4,970
51.23%
d
Trading‐Distr
Bus Serv
2,888
121.40%
Agri
2,774
46.39%
Constr
1 948
1,948
88 41%
88.41%
Mfg‐Chem
1,687
33.99%
Comm
989
15.73%
Mfg‐RawM
g
980
5 754 23%
5,754.23%
Utilities
844
Mining‐Oil & Gas
Mfg‐Oth
179
4.45%
Comm
162
162
166 93%
166.93%
Mining
147
16.55%
Trad‐Oth
(90)
(7.44%)
Trad‐H&R
(132)
(72.29%)
Trad‐Ret
(163)
(39.86%)
Trading‐Dom
(569)
Mining‐Oth
(261)
(18.41%)
Utilities
(760)
Rp Billion
(64.65%)
Rp
p Billion
(
(70.19%)
)
2,000
1,500
1,000
500
0
(500)
(1,000)
6,000
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
19
…into Fee‐based Income
Breakdown of Q2 2008 & 2009 Non‐Loan Related Fees & Commissions (Rp bn)
Non‐Loan Related Fees & Commissions
H1 ‘08
Q1 ‘09
Q2 ‘09
H1 ‘09
Q2 %
(Q o Q)
(Q‐o‐Q)
H1 %
(Y o Y)
(Y‐o‐Y)
Administration Fees
498.67
290.33
351.77
642.10
21.2%
28.8%
Opening L/Cs, Bank Guarantees & Capital
Markets
191.46
121.41
128.46
249.88
5.8%
30.5%
Subsidiaries
281.92
79.83
148.55
228.39
86.1%
(19.0%)
Transfers, Collections, Clearing & Bank
Reference
105 58
105.58
57 70
57.70
56 38
56.38
114 07
114.07
(2 3%)
(2.3%)
8 0%
8.0%
Credit Cards
165.68
113.35
136.98
250.33
20.9%
51.1%
26.96
6.17
13.16
19.32
113.3%
(28.3%)
338.35
162.89
221.28
384.17
35.9%
13.5%
Total
1,608.61
831.67
1,056.59
1,888.26
27.0%
17.4%
Total Operating Income#
8,927.82
5,601.03
5,664.74
11,265.77
1.1%
26.2%
18.02%
14.85%
18.65%
16.76%
25.6%
(7.0%)
Mutual Funds & ORI
Mutual Funds & ORI
Others*
Non‐Loan Related Fees to Operating
Income**
* Others includes Syndication, Payment Points, ATMs, Debit Cards, etc.
** Non‐Loan related fees & commissions/(Total Operating Income ‐ Non‐recurring interest income)
# Excluding non‐recurring interest income
20
Strong FX revenues but limited derivative
exposure
FX Fees(Rp bn) – Bank Only
Derivative Exposure (Rp bn) – Bank Only
800
Transactions
Total
Notional Fair
Notional
Fair
Derivative Derivative
Derivative
Derivative
Amount Value Receivable Payables
Foreign Exchange
Q2
Forward ‐
d buy
b
600
Forward ‐ sell
Swap ‐ buy
587 4
587.4
Swap ‐ sell
400
2,552
2,520
1
33
389
384
8
2
859
859
859
859
9
9
10
10
4,705
4,482
228
6
20
‐
20
246
71
(5)
‐
241
71
Interest Rate
Swap ‐ interest rate
155.0
142.4
132.8
Total
200
Less: Allowance for possible losses
ll
f
bl l
120.3
82.2
106.9
193.7
109.9
0
102.9
83.5
83.5
72 7
72.7
2006
2007
2008
Total
16.1
2005
2009
21
Q2 NPLs fell to Rp8.6 tn on upgrades and FX
p
impacts
Non‐Performing Loan Movements (Rp bn) – Bank Only
10.52
1.36
0.48
0.30
0.27
Movement by Customer Segment (Rp Bn)
Cons
57.5
41.2
80 2
80.2
0 51
0.51
Micro/Small
C
Comm
8.56
Corp
1,182.1
109.3
Q1 '09
UG to PL DG to NPL Payment Write‐Offs
Other
Q2 '09
UG to PL
220.2
69.3
96.3
147.8
147
8
2.5
102.9
DG to NPL
W/O
22
Gross NPLs decline to 4.78% with provisioning
g
p
g
coverage improving at 136.1%
NPL Movement ‐ Consolidated
Category 2 Loans – Bank Only
70.9%
%
212.6%
190.4%
201.7% 187.5%
182.4%
175.8%
146.7%
25.28%
163.8%
163
8%
138.9% 136.1%
151.1%
122.6% 127.1%
109.0%
139.1%
129.5% 128.8%
70.0%
Cat 2 %
18,000
40%
16,000
14,000
30%
12,000
26 18%
26.18%
10,000
1
12.20%
15.47%
%
16.29%
16.34%
19
9.80%
100 9%
100.9%
116.6%
86.7%
50%
20,000
,
20%
8,000
44.4%
6,000
1.1% 1.0%
2,000
9.22%
10.20%
9.66%
10%
0%
0
Q2
2 '09
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Net NPL Ratio
Prov/NPL incl. Coll.
4,000
9.16%
15,895
16,332
15,412
13,502
13,451
14,058
15,148
15,586
15,854
16,750
16,966
12,912
8,334
10,983
16,202
12,655
15,350
4,033
4.78%
5..85%
4.73%
4.44%
4.74%
5.14%
7.17
7%
15.3%
7.10
0%
8.60%
7.30%
9.70%
1.5%
Q2
2 '09
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Gross NPL Ratio
Prov/NPL
15.86%
14 98%
14.98%
13.99%
12.87%
11.46%
2 ‐ Special Mention Loans (Rp Bn)
23
Cash Provisioning remains high for both NPLs
and Category II loans
Collateral Valuation Details
Non‐Performing Loans by Segment
NPLs
(Rp tn)
Q2
(Rp tn)
NPLs
(%)
Collectibility
1
2
3
4
5
Corporate
5.24
(1.98)
6.58%
Total Cash
Prov. (Rp bn)
1,557
3,391
197
335
6,557
Commercial
1.85
(0.06)
4.25%
SSmall
a
0.61
0
6
0.06
0
06
3.82%
3
8 %
% Cash
o so s
Provisions
1.1%
21.3%
19.0%
61.7%
94.0%
Micro
0.27
0.01
5.61%
‐
3,783
‐
‐
560
Consumer
0.59
0.01
2.85%
8 56
8.56
(1 96)
(1.96)
4 78%*
4.78%
11
‐
‐
6
Total
Collateral Prov.
(Rp bn)
# of Accounts
* Excluding Restructuring Losses and loans to other banks.
• Bank Mandiri’s current provisioning policy adheres
to BI requirements
• As of 30 June ’09, loan loss provisions excess to BI
A f 30 J
’09 l
l
ii
t BI
requirements = Rp253 bn
Provisioning
Policy
Performing
Loans
Non‐Performing
Loans
Collectibility
1
2
3
4
5
BI Req.
1%
5%
15%
50%
100%
BMRI Policy
1%
5%
15%
50%
100%
BMRI pre‐2005
2%
15%
50%
100%
100%
• Collateral has been valued for 17 accounts and collateral
provisions of Rp4,343 bn (27.0% of appraised value) have
been credited against loan balances of Rp5 306 bn
been credited against loan balances of Rp5,306 bn
• Collateral value is credited against cash provisioning
requirements on a conservative basis. For assets valued
above Rp 5bn:
– Collateral is valued only if Bank Mandiri has exercisable rights to
claim collateral assets
– 70% of appraised value can be credited within the initial 12
months of valuation, declining to:
•50%
50% of appraised value within 12 to 18 months
of appraised value within 12 to 18 months
•30% of appraised value within 18 to 24 months
•No value beyond 24 months from appraisal
24
Q2 2009 Annualized net upgrades of 1.52% on
g
g
loans originating since 2005
Total Loans originated since 2005
Net Upgrades (%)/Downgrades (%) #
Q2 2009 Details
Loan
Background
Q2 ‘09
Balance
Balance
(Rp bn)
Q2
2007
Q3
2007
Q4
2007
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
DG to
NPL
%
UG to
PL
%
Corporate
61,262.6
0.49
0.55
‐
‐
0.10
0.11
0.48
1.05
1.15
‐
1.15
Commercial
28,739.2
0.60
0.18
0.02
0.33
0.14
0.21
1.05
0.78
0.03
0.09
0.07
Small/Micro
16,512.5
1.56
1.07
0.59
0.92
0.58
0.59
1.20
1.06
1.00
1.17
0.17
Consumer
18,808.0
0.34
0.28
0.01
0.42
0.13
0.22
0.13
0.49
0.27
0.48
0.21
Total
125,332,3
0.29
0.23
0.08
0.28
0.18
0.21
0.65
0.91
0.38
0.25
0.63
# % downgrades and upgrades
# % downgrades
and upgrades are quarterly % figures
are quarterly % figures
25
Progress on selected debtors as of 30 June 2009
Total Group exposure outstanding as of 30 June 2009 was Rp1,491 billion, with performing
p p
g
p ,
,
p
g
loans (PL) of Rp 1,321 billion (89% of total) and non‐performing loans (NPL) of Rp 170
billion (11% of total).
Industry : integrated textiles and property
The Group consists of 7 companies: Alfa Goldland Realty (Category 2), Argo Pantes
(Category 2), Budhidarma Jakarta (Category 2), Daya Manunggal (Category 2), Grand Textile
Industry (Category 2), Lawe Adyaprima Spinning Mills (Category 5) and Grand Pintalan
Textile Ind. (Category 2).
Argo
A
Manunggal
Group
Collateral coverage is currently 213% of loans outstanding.
Update:
Due to the impact of the global crisis in 2008 and early 2009, the principal payments
have been restructured for the textile and property sector loans to adjust to the cash‐
flow ability.
The Toll access for Alam Sutera has been under construction since July 2007 and has
recently been completed. The opening of the Toll Access Road corresponds with the
recently been completed. The opening of the Toll Access Road corresponds with the
Grand launching in August 2009, and is expected to accelerate sales.
Account strategy : Closely monitor for the debtor’s requirements according to the entire
restructuring scheme.
26
Progress on selected debtors as of 30 June 2009
Total outstanding to this group as of 30 June 2009 was Rp322 billion.
Industry : integrated textile .
Batam Textile
I d t
Industry
The debtor has been upgraded to Category 2 (Special Mention).
The
The debtor settled loans in Q2/2009 amounting to Rp86 billion (principal and
debtor settled loans in Q2/2009 amounting to Rp86 billion (principal and
interest).
The account strategy is “maintain” and we are now in the process of intensive
monitoring.
o to g.
Total outstanding to this debtor as of 30 June 2009 was Rp241 billion.
Industry : tin can and bottle cup.
Ancol Terang
MPI
The debtor has been upgraded to Category 2 (Special Mention).
The obligor settled loans in Q2/2009 amounting to Rp15 billion (principal and
interest).
The account strategy is “maintain” and we are now in the process of intensive
monitoring.
27
Strengthening Risk Management & Monitoring
y
System
Summary of Risk Management Initiatives
Corporate Customer by Rating
C dit
Credit
• Enhance business process credit approval, CR
methodologies & tools (monitoring system)
• Develop & enhance collection systems
Develop & enhance collection systems
• Optimize credit portfolio management system
• Consolidate risk profile (incl. overseas offices &
subsidiaries – Credit, Market & Operational)
Market
•
•
•
•
•
High Risk (Rating C‐ G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
100%
15%
80%
12%
11%
9%
24%
21%
22%
34%
60%
%
Implementation of stress test analysis
Development of derivative system (summit)
Enhance Risk Mandiri Policy (KMRBM)
Enhance Treasury policy
yp y
Implement Risk Profile System (RPM)
40%
64%
20%
68%
69%
51%
Operational
• ORM implementation in all unit, incl. overseas
offices & subsidiary
• Set up Operational Risk Committee under RCC
• Synchronization of Risk‐Based Audit
methodology with RCSA (ORM)
0%
2006
2007
2008
Q2 '09
28
Q2 Cost to Income Ratio rises to 42.8% on higher
Personnel expenses
p
Quarterly Consolidated Operating Expenses & CIR*
Breakdown of Q2 2008 & 2009 Operating Expenses
CIR* (%)
Annual Avg CIR (%)
g
( )
Q2 ‘08
Q2
Q2 ‘09
QoQ
Q‐o‐Q
YoY
Y‐o‐Y
Personnel Expenses
58.9%
47.2%
47.2%
40.4%
42.8%
42.3%
40.2%
40.4%
35 1%
35.1%
28 2%
28.2%
358,365
425,916
20.56%
18.85%
Other Allowances
Other Allowances
493 668
493,668
597 580
597,580
27 10%
27.10%
21 05%
21.05%
Post Empl. Benefits
102,075
186,116
32.69%
82.33%
74,818
32,266
7.62%
(56.87%)
128,772
,
148,455
,
21.32%
15.29%
1,157,698
1,390,333
24.58%
20.09%
IT & Telecoms
IT & Telecoms
200 335
200,335
171 774
171,774
3 71%
3.71%
(14 26%)
(14.26%)
Occupancy Related
240,043
260,771
14.35%
8.64%
Promo. & Sponsor.
200,296
168,747
82.10%
(15.75%)
Transport & Travel
Transport & Travel
73 474
73,474
67 342 (0.61%)
67,342
(0 61%)
(8 35%)
(8.35%)
90,720
115,264
24.29%
27.05%
Employee Related
82,299
100,139
26.50%
21.68%
146 600
146,600
120 247
120,247
18 72%
18.72%
(17 98%)
(17.98%)
1,033,767 1,004,284
21.40%
(2.85%)
Training
Subsidiaries
Total Personnel
Expenses
1,116
1,390
1,197
72
1,17
1,158
929
795
1
1,005
1,309
1,049
9
869
241
1,2
723
377
327
649
Base Salary
G & A Expenses
957
7
336
753
775
749
1,034
842
1,016
710
748
957
993
769
1,034
916
1,148
827
1,004
Prof. Services
Q
Q4 '00
Q
Q4 '01
Q
Q4 '02
Q
Q4 '03
Q
Q4 '04
Q
Q4 '05
Q
Q4 '06
Q
Q1 '07
Q
Q2 '07
Q
Q3 '07
Q
Q4 '07
Q
Q1 '08
Q
Q2 '08
Q
Q3 '08
Q
Q4 '08
Q
Q1 '09
Q
Q2 '09
Subsidiaries
G&A Expenses (Rp bn)
Personnel Expenses (Rp bn)
*Excluding the impact of non‐recurring interest income & bond gains
Total G & A Expenses
29
Leveraging cash generator to accelerate high yield
ggrowth
Net Interest Income
1,169
1 396
1,396
Corporate
Building Future Growth Engine
(Consumer & Micro/Retail)
CM = Rp2,589 billion
Leveraging Our Cash
Generator
(Corporate & Treasury)
CM = Rp2,431 billion
% of Total
NII (Rp bn)
Alliance Strategy Focus
1,377
Commercial #
Treasury & Int'll
Treasury & Int
2,168
22.1%
18.4%
26.1%
28.6%
5.6%
296
356
4.7%
1,969
2,817
Micro & Retail *
Consumer Finance
H1 '07
H1
07
H1 '09
37.3%
37.2%
8.9%
470
11.0%
836
Fee Income
% of Total
Fees (Rp bn)
Strengthen Emerging Business
(Commercial Banking)
CM = Rp2,189 billion
Corporate
189
274
Commercial #
89
291
Treasury & Int'l
11.1%
5.8%
11.8%
445
634
28.8%
674
44.6%
Micro & Retail *
Consumer Finance
12.2%
H1 '07
H1 '09
25.7%
1 124
1,124
45 6%
45.6%
149
142
# Including Small Business *Excluding Small Business
9.6%
5.8%
30
Leveraging cash generator to accelerate high yield
ggrowth and deposit franchise
p
Consumer Loans from Alliance Program
(10 top corporate clients)
Co‐Branding Prepaid Card Program
Rp Billion
1,609
1,389
1,259 1,275
1,128
791
319
391
486
897
532
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09 Q2 '09
Corporate Card Holder from Alliance Program
(10 to corporate clients)
(10 to corporate clients)
7,272
Plantation Small & Micro Lending from Alliance
Program
418
350
3,625
234
1,616
1,620
1,796
1,869
2,007
Q4'07
Q1 '08
Q2 '08
Q3'08
Q4'08
259
416
427
Rp Billion
427
423
347
268
149
Q1 '09
Q2 '09
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09 Q2 '09
31
Enhancing synergies & values from subsidiaries
Syariah Banking
Investment Banking
Insurance
Niche Banking
Multi‐Finance
Bank Sinar
Harapan Bali
Total Assets
Rp18 7 tn
Rp18.7 tn
Bond Trading Volume
Rp8 42 tn
Rp8.42 tn
Total Assets
Rp4 97 tn
Rp4.97 tn
Total Loans
Rp342 bn
Rp342 bn
Total Financing
Rp751 1 bn
Rp751.1 bn
Total Financing
Rp14.2 tn
Bond Underwriting
Rp875 bn
Annual FYP
Rp 166.6 bn
Net Interest Margin*
11.46%
Net Interest Margin
6.72%
Total Deposits
Total
Deposits
Rp16.4 tn
Equity Trading Volume
Equity
Trading Volume
Rp18.89 tn
Fee Contribution
Fee
Contribution
Rp55.66 bn
ROA
4.1%
ROA (Before Tax)
(Before Tax)
3.52%
ROE
18.9%
ROA
5.2%
ROE
45.2%
ROE
11.4%
ROE (After Tax)
18.76%
• Remain the leader in
syariah financing
• Capital injection program
over 3 years
• Cross‐sell syariah
products to Mandiri
customers
• Expansion of business to
fully utilize current capital
b
base
• Cross‐sell capital market
services to broad range of
Mandiri customers
• Refocus business toward
Refocus business toward
higher fee income
• Provide end‐to‐end bank
assurance business
• Continue to build cross‐
sell opportunities in
various segments
• Bank assurance products
complete our suite of
complete our suite of
consumer offerings
• Enhance operating model
• Improve risk
management systems
and IT
• Improve productivity
•Use Bank Mandiri’s
network infrastructure
th
throughout Indonesia to
h tI d
i t
develop multi‐finance
segment, especially in
vehicle‐ownership
financing.
* Excluding deposits made by
Bank Mandiri
32
H1 2009 operating profit up 35.3% from H1 2008
H1 2008
H1 2009
Rp billion
Rp billion
2,481
4,906
1,989
4 384
4,384
Up
35.3%
8 660
8,660
7,004
6,235
4,610
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
Notes :
1. Fee based income excluding gain on sale & increasing value GB & securities
2. Overhead expenses + others excluding provisions
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
33
Strong Revenue Growth
Summary P&L
H1 2008
Rp (Billions)
H1 2009
% of Av.Assets*
Rp (Billions)
H1 Y‐o‐Y
% of Av.Assets
(%)
Interest Income
12,175
8.1%
16,603
9.6%
36.4%
Interest Expense
(5,171)
(3.5%)
(7,943)
(4.6%)
53.6%
Net Interest Income
Net Interest Income
7 004
7,004
4 7%
4.7%
8 660
8,660
5 0%
5.0%
23 6%
23.6%
Other Operating Income
1,989
1.3%
2,481
1.4%
24.7%
10
0.0%
124
0.1%
1,140.0%
Gain from Increase in Value & Sale of Bonds
Provisions, Net
(855)
(0.6%)
(1,974)
(1.1%)
130.9%
Personnel Expenses
(2,195)
(1.5%)
(2,506)
(1.4%)
14.2%
G & A Expenses
G & A Expenses
(1 798)
(1,798)
(1 2%)
(1.2%)
(1 832)
(1,832)
(1 1%)
(1.1%)
1 9%
1.9%
Other Operating Expenses**
(391)
(0.3%)
(568)
(0.3%)
45.3%
Profit from Operations
3,689
2.5%
4,385
2.5%
18.9%
Non Operating Income
72
0.0%
115
0.1%
59.7%
Net Income Before Tax
3,761
2.5%
4,500
2.6%
19.6%
Net Income After Tax
Net Income After Tax
2 610
2,610
1 7%
1.7%
2 927
2,927
1 7%
1.7%
12 1%
12.1%
* % of Average Assets on an annualized basis
** primarily premiums paid under the blanket guarantee scheme
34
…supported by strong capital at 14.1%
Capital & RWA Movement
Profit After Tax & ROE
IDR bn
26.2%
26
2%
23.6%22.8%
21.5%
CAR
31.3%
18.1%18.7%
15.8%
23.4%
183.9
1,,526
1,221
1
1,400
1
1,390
1,027
372
610 372
610
97 305
519 510
1,113
Total Capital (Rp tn)
744
1,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 Q2
Q2 '09
09
1,549
308
1,168
1,3
300
13.3 15.4 17.0 25.5 27.5 27.4 28.4 28.3 27.2 25.9
RWA (Rp tn)
690
602
72.5
42.6
58 1
58.1
1,234
91.9
1,32
29
967
1,040
645
1,0
017
134.0
15.7%
115.9 112.2
14.1%
799
1,528
172.9
2.5%
1,345
21 1%
21.1%
108.9
819
10.0%
1,16
66
25.3%
25.3%
23.7%
775
1,40
08
Q4 PAT
Q4
PAT
Q3 PAT
Q2 PAT
Q1 PAT
1,390
27.7%
26.4%
R E AT
RoE ‐
(623)
2001 2002 2003 2004 2005 2006 2007 2008 2009
35
Operating
O
i
Performance
Performance
Highlights
g g
36
Corporate Banking:
Contribution Margin declines on rate increase
Contribution Margin (after PPAP)
Rp bn
Performance to Date: H1 2009
Rp bn
274
139
104
1,582
1,628
2,906
Q1
Q2
Q3
Q4
544
537
811
547
26.4%
1106
592
545
2007
741
2008
1. Refine organization to be more
i d t f
industry focused ,& strengthen
d & t
th
funding sales team to gain rapid
business growth
2. Strengthen Corporate Banking
Floor in Surabaya and Medan to
broaden and deepen our
geographic coverage
2,483
1,077
Strategies for 2009
522
2009
3 Strengthen
3.
Strengthen our Syndication &
our Syndication &
Structured Finance team, as
well as our synergy with
Mandiri Sekuritas, to provide a
broader variety and more
broader variety and more
sophisticated product range,
and accelerate transactional
banking development in
Corporate Banking
Corporate Banking
4. Broaden relationships to offer
products and services to our
corporate clients’ suppliers,
employees and customers,
l
d
t
through strategic alliance
program
37
Mandiri Sekuritas’ financial performance has
p
y
g
y
been impacted by the global economy crisis
H1 ’08
H1 ’09
Y‐o‐Y
(%)
245
170
(31%)
92
69
(26%)
115
81
(30%)
• Treasury
5
3
(40%)
• Investment Mgt
32
19
(42%)
Operating Expenses
134
72
(46%)
Earnings After Tax
65
17
(73%)
Equity Transactions
26,940
18,887
(30%)
SUN Transactions
15,901
8,416
(47%)
Bonds Underwritten
Bonds Underwritten
2 633
2,633
875
(67%)
ROA
6.3%
1.6%
(75%)
ROE
15 8%
15.8%
5 2%
5.2%
(67%)
(Rp Bn)
Revenues
• Investment Banking
• Capital Market
Capital Market
38
Treasury & International Banking
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Rp bn
677
Q1
Q
Q2
Q
Q3
Q
Q4
Q
1,280
2. Seek opportunities to enhance
the yield of our recent portfolio
h
ld f
f l
137
897
94
946
3. Sustain our overseas business by
focusing on syndicated facilities
and trade financing to selected
customers in supporting
Indonesia‐related business
4. Enhance our regional
distribution (RTM) in high
distribution (RTM) in high
growth, export‐oriented regions
in collaboration with Micro &
Retail Banking
455
266
5 Reinforce
5.
Reinforce competitiveness
competitiveness
through new Mandiri
International Remittance offices
and our Shanghai office
2009
6 B
6.
Build international experience
ild i t
ti
l
i
for future regional expansion &
early access to license
39
377
803
803
307
803
118
348
322
356
121%
153
NII
Fees
Overhead Operating Provisions Profit After
Profit
PPAP
1. Intensify cross‐selling of forex
products and services to our
products and services to our
corporate and large commercial
clients
2007
210
2008
Commercial Banking:
Strong revenues from both Liabilities & Assets
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Rp bn
Q1
Q
292
682
Q2
Q
Q3
Q
Q4
Q
2,427
225
2,235
45
2 189
2,189
2,189
2,114
2. To increase sustainability of loan
portfolio by expanding “KMK”
fixed product.
64%
617
1266
1,486
564
630
946
923
703
487
2007
2008
1. To widen asset margin especially
in Small Commercial Loan and
Medium Commercial Loan
Segment (Limit under Rp100
Billion)
3 Financing
3.
Financing the subcontractors of
the subcontractors of
large corporates, particularly in
infrastructure, mining, and
telecom
4 To pitch alliance strategic
4.
T it h lli
t t i
partner targets from the 10
biggest corporate customers
and 17 biggest commercial
customers that have
t
th t h
significantly business impact.
5. To develop bundling products by
utilizing push product and
existing product range.
2009*
*) incl CM of Small Rp296 bn & BSM Rp179 bn in H1
40
Commercial Banking : Stronger Platform & Improved
Distribution Capability
Expanding Scope of Distribution, 2009
Solid & Stable Source of
Low Cost Funds
R Tn
Rp
T **
Sumatera
Loans = Rp 5.6 Tn
Funds = Rp 5.3Tn
Java and Bali
Loans = Rp32.8 Tn
Funds = Rp23.5 Tn
Kalimantan
Loans = Rp2.3 Tn
Funds = Rp2.3 Tn
Eastern
Loans = Rp1.1 Tn
Funds = Rp1.9 Tn
Q2
2008
Q2
2009
Growth
Demand
Deposit
16 74
16.74
18 15
18.15
8 4%
8.4%
Rupiah
12.42
12.69
2.2%
FX
4.31
5.45
26.5%
Saving
Deposit*
2.60
1.40
(46.2%)
Total Low
Cost Fund
Cost Fund
19.34
19.55
1.1%
Total
Funding
28.11
33.00
17.4%
Product
CBC = 19 Unit
Floor = 18 Unit
TSC = 11 Unit
TSD = 8 Unit
Low Cost Fund Ratio = 59.24%
Funding from Java & Bali =71.30%
of total fundingg
* Business Savings Product
** excl. SBG
41
Strong growth from our Syariah Banking
subsidiaryy
Financial Performance (Rp bn)
Financing
Net Interest Margin & Cost of Funds
FY ’06
FY ‘07
H1 ‘08
FY ’08
H1 ’09
7,415
10,305
12,731
13,278
14,232
Deposits
8,219
11,106
14,270
14,899
16,353
Assets
9,555
12,888
16,286
17,066
18,684
EAT
65.48
114.64
96.28
196.42
125.74
ROA
1.10%
1.54%
1.94%
1.83%
2.00%
ROE
10 23%
10.23%
15 94%
15.94%
22 78%
22.78%
21 34%
21.34%
18 88%
18.88%
Net NPF
4.64%
3.43%
2.15%
2.37%
1.92%
13.6%
13.5%
YoA
13.5%
13.0%
12.7%
12.4%
12.3% 12.2% 12.4%
Ratios:
Syariah Financing (Rp tn)
Financing
99.1%
FDR
CoF
6 2%
6.2%
5.7%
92.8%
5.4% 5.3% 5.4% 5.4% 5.3% 5.3%
5.7%
91.1% 91.1%
90.2%
Q1 '09
5.6%
Q4 '08
NIM
5.6%
Q3 '08
14.23
6
6.3%
13.43
6
6.4%
11.15
13.25
6
6.3%
10.31
13.77
6
6.3%
9.30
12.73
6
6.1%
87 0%
86.9% 87.0%
5.6%
6.8
8%
89.1%
6.7%
89.2%
7.41
Q4 '06
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q2 '09
2005 Q4 '06 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09
42
Micro & Retail Banking:
Rapidly growing our high margin business
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Strategies for 2009
Rp bn
1,124
4,594
Q4
1. Leverage our strength in
Corporate and large
Commercial customers to
quickly build high margin
i kl b ild hi h
i
business
Q3
Q2
1,257
,
Q1
1,893
2,496
2. Continue to improve our
payment infrastructure
ti f t t
1,416
2,047
65
1,982
2,204
318
1,982
3.2%
572
856
1,045
740
740
574
321
2007
* Includes Deposit Insurance
876
2008
1,126
3. Expand our distribution with
a focus on high margin
b i
business
4. Improve our sales culture and
productivity of existing
network
t
k
5. Cross sell to grow our fee
based income business
2009 *
*Excluding Small Business
43
Consumer Finance:
Significant growth in spread and fee income
Contribution Margin (after PPAP)
Performance to Date, H1 2009
Rp bn
Rp bn
142
239
Q1
Q2
Q3
Q4
831
836
739
639
131
607
324
607
158
62%
412
79
133
161
100
355
200
170
90
252
NII
Fees
Overhead
Operating
Profit
Provisions
Profit After
PPAP
143
150
174
2006
2007
2008
2009
44
S
Supporting Materials
i M
i l
45
Key Quarterly Balance Sheet Items & Financial
Ratios
IDR billion / %
H1 ‘08
FY ‘08
H1 ‘09
Gross Loans
149,612
174,498
181,611
21.39%
88 386
88,386
88 259
88,259
88 243
88,243
(0 16%)
(0.16%)
Total Assets
304,680
358,439
358,897
17.79%
Customer Deposits
236,213
289,112
287,055
21.52%
T lE i
Total Equity
27 711
27,711
30 514
30,514
31 439
31,439
13.45%
%
RoA ‐ before tax (p.a.)
2.44%
2.52%
2.54%
RoE – after tax (p.a.)
17.89%
18.06%
18.70%
Co
k
(
) bk
Q2 2009
Q2 2009
Results Presentation
Results Presentation
Share Information
4,000
Per 30 June 2009
Description
3 500
3,500
BMRI
DOMESTIC
1. Government of RI
2. Retail
3. Employees
4. Cooperatives
5. Foundations
6. Pension Funds
7. Insurance Cos.
8. Banks
9. Corporations
10 Financial Institutions
10. Financial Institutions
11. Mutual Funds
Total
INTERNATIONAL
1. Retail
2. Institutional
Total
JCI
3,000
2 500
2,500
2,000
1 500
1,500
1,000
500
TOTAL
No. of
Investors
Investors
%
1
11,494
8,868
4
11
149
41
1
146
1
118
20,834
0.00%
53.55%
41.31%
0.02%
0.05%
0.69%
0.19%
0.00%
0.68%
0 00%
0.00%
0.55%
97.06%
84
548
632
21,466
No. of shares
%
14,000,000,000
274,599,808
191,307,923
80,000
11,077,000
235,132,500
274,074,000
181,000
325,650,437
2,050,000
2 050 000
786,467,000
16,100,619,668
66.80%
1.31%
0.91%
0.00%
0.05%
1.12%
1.31%
0.00%
1.55%
0 01%
0.01%
3.75%
76.82%
0.39% 3,421,500
2.55% 4,854,812,931
,
,
,
2.94% 4,858,234,431
0.02%
23.16%
23.18%
20,958,854,099
100.00%
100.00%
0
+56.79%
JCI
+286.28%
+49.53%
11‐Jan‐‐09
+370.37%
11‐Apr‐‐09
BMRI
11‐Oct‐‐08
Jan 1 2009
11‐Jul‐0
08
11‐Jan‐‐08
IPO
11‐Apr‐‐08
11‐Oct‐‐07
11‐Jul‐0
07
11‐Apr‐‐07
11‐Jan‐‐07
11‐Oct‐‐06
11‐Jul‐0
06
11‐Jan‐‐06
11‐Apr‐‐06
11‐Oct‐‐05
11‐Jul‐0
05
11‐Jan‐‐05
11‐Apr‐‐05
11‐Oct‐‐04
11‐Jul‐0
04
11‐Apr‐‐04
11‐Jan‐‐04
11‐Oct‐‐03
11‐Jul‐0
03
from:
85
Bank Mandiri Presentation Contents
Results Overview
Page #
2
H1 2009 Financial Highlights
H1 2009 Growth Momentum and Balance Sheet
3‐4
Loan Growth & LDR
5‐7
Strategy Overview
8‐9
Deposit Franchise Development
Net Interest Margins
10‐14
15
High‐Yield Lending Activities
16‐18
Wholesale Lending, Fees and FX Activities
19‐21
NPL Movement, Asset Quality & Provisioning
o e e , sse Qua y
o so g
22‐24
New NPL Formation and NPL Restructuring Progress
25‐27
Enhancing Risk Management
28
Overhead Expense Details
29
Leveraging SBU Alliances & Subsidiaries
30‐32
Operating Profit & Summary P&L
33‐34
CAR, ROE, PAT
35
Operating Performance Highlights
Operating Performance Highlights
36‐44
36
44
Supporting Materials
45‐84
1
Key Financial Highlights
Bank Mandiri’s H1 2009 Performance continued to demonstrate marked
p
y
improvements in several key indicators:
H1 ‘08
H1 ‘09
%
Rp149.6 tn
Rp181.6 tn
21.4%
0.97%
1.00%
3.1%
4.74%
4.78%
0.8%
64.0%
56.7%
(11.5%)
Rp151.2 tn
Rp162.7 tn
7.6%
NIM
5.25%
5.35%
1.9%
Efficiency Ratio
44.4%
38.9%
(12.3%)
2,610 bn
b
2,927 bn
b
12.1%
Loans
Net NPL Ratio
Gross NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
f
2
Maintaining momentum for growth
Loans by SBU*
(Rp Tn)
160
Micro
Comm
140
120
100
80
60
40
1.73
7.56
10.66
25.85
0.95
20
29.94
Small
Int'l
Cons
Corp
Deposits by Product – Bank Only
(Rp Tn)
Y‐o‐Y
4.38 4.55
4.84
40.0%
15.50
20.1%
14.10
4.04 14.82
13.42
20.56
3.46
19.27 19.66
12.90
2.68 2.90
18.74
13.08 12.49
17.52
41.88
2.20
41.56 40.64
14.23 15.74
1.94 9.91
38.71
8.86
12.78
36.48
11.08
4 41 4.40
4 44 4.41
4.44
31.46 32.75
4.33
28.90
4.06
24.36
2.82 3.39
0.91 2.14
62.04 64.12 65.84
55 17
55.17
44.84 42.27 47.77
36.12 34.67
17.3%
275
250
50
FX Time
FX Demand
FX Savings
97.90
54.6%
17.52
29.5%
45 36
45.36
9 8%
9.8%
8.32
7.8%
81.54 76.29 80.81 75.80 82.23 77.24 82.79
2.5%
16 16
16.16
16.07
95.69
14.72
15.65 12.56
91.94
73 43
73.43
63.34 78.16
66.70
150
93.20
15.09
80.47 9.78
125
13.53
11.88
50.43
100
75
37.8%
23.6%
14.69
175
8.3%
21.35
18.15
15.93
225
200
14.8%
Rp Time
Rp Demand
Rp Savings
Y‐o‐Y
9.07
11.39
33.61
50
30.12 4.12
3.50
25
57.61
45.17
41.30
36.39
4.70
5.36
7.72
19.51
10.49
51 82
51.82
43.97
6.37
7.38
42.99
8.15
0
0
Q4 '05
Q4
05 Q4
Q4 '06
06 Q3
Q3 '07
07 Q4
Q4 '07
07 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09 Q2
Q2 '09
09
Q4 '05
Q4
05 Q4
Q4 '06
06 Q4
Q4 '07
07 Q1
Q1 '08
08 Q2
Q2 '08
08 Q3
Q3 '08
08 Q4
Q4 '08
08 Q1
Q1 '09
09 Q2
Q2 '09
09
*Cash Collateral Loans have been reallocated to Small Business
3
Strong and liquid balance sheet
(Rp Bn, Bank Only)
Amount
% of
Assets
5,606
1.67%
SBI & BI Placement (net)
28,312
Placement w/other banks
(net)
( )
Marketable Securities (net)
Assets
Amount
% of Liab.
Current Account
62,882
18.69%
8.41%
Savings
91,112
27.07%
29,001
8.62%
Time Deposits (Rp)
97,900
29.09%
8,748
,
2.60%
Time Deposits (Fx)
p
,
18,148
5.39%
87,840
26.10%
Total Deposits
270,042
80.25%
Loans (Gross)
164,535
48.89%
Securities Issued
637
0.19%
Provisions
(12,037)
(3.58%)
Deposits from other banks
7,032
2.09%
Other Advances (net)
6,040
1.79%
Borrowings
5,755
1.71%
Investments
3,523
1.05%
Other Interest bearing liabilities
2,801
0.83%
Other Assets
14,947
4.44%
Non Interest bearing liabilities
18,810
5.59%
Equity
31 439
31,439
9 34%
9.34%
336,517
100.00%
Cash
Government Bonds
Total
336,517
100.00%
Liabilities
Total
4
FX LDR continues to decline along with FX Loans
FX Loans
(USD million)
3,765
3,158
984
895
55 3
FX Loans* & LDR
4,254
(770)
4,011
582
3,755 3,822 247
248 34
34 44
32 3 282
32
282
22
22
3,348
45 6 38
687
730
694
382 3,084 3,052
691
33 9 378 399
16
6
6
132
45
45
617 132
617
980
Loans (Rp tn)
LDR (%)
131.1%
123 7%
123.7%
111.0%
104.4%
102.5%
95.9%
80.5% 78.3%
550
588
290
68.5%
282
30.1
34.3
35.3
3
36.6
1,969 2,052
34.3
1,834
33.4
2,306
3
37.6
2,998
33.8
2,731 2,820
31.3
2,908
466
1,163
2005
2006
Current
2007
Q1 '08
S.Mention
Q2 '08
Q3 '08
Sub Standard
Q4 '08
Q1 '09
Doubtful
Q2 '09
Loss
005
2005
006
2006
00
2007
Q
08 Q
08 Q3
08 Q
08 Q
09 Q
09
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
*Excluding loans to other banks and restructuring losses
5
LDR of 62.2% reflecting strong liquidity…
Quarterly Loan Data – Consolidated
Quarterly Loan Segment Details – Bank Only
Corporate
Commercial
S ll
Small
Micro
Consumer
Loans (Rp tn)
65.0%
% 63.2%
63 2%
62.2%
62.2%
59.2%
LDR (%)
LDR (%)
53.7%
57.2% 56.4%
54.3%
42.5%
40 2 38.2
40.2
35.4%
42.3
76.4
68 7
68.7
55.4
53.6
50.5
35.7
32.6
36.4 35.5
32.5
22.2
26.3%
1.5
11 1
10 7 11.1
10.7
11 7
11.7
10.2
10.0
3.7
3.5
4.0 4.4
4.6
4.8
Q1 ''09
Q2 ''09
Q4 ''08
2.9
Q3 ''08
QoQ Growth (%)
YoY Growth (%)
2.7
Q2 ''08
1.4%
15.1 14.4 15.8
13.7 13.1 13.3 13.8
Q1 ''08
3.7%
43.8 42.6 43.6
19.7 20.6
17.5 18.7 19.3
15.8
14.3
Q3 ''07
21.4%
2.1
Q2 ''07
30.5%
Q4 ''06
Q4 ''05
Q4 ''04
Q4 ''03
Q4 ''02
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
By Segment
(Bank only)
1.9
Q1 ''07
7.6
1.7
39 1 41.2
39.1
Q4 ''07
181.6
175.2
174.5
162.8
149.6
135.5
138.5
121.7
116.3
114.3
117.7
106.9
94.4
75.9
65.4
48.3
43.0
8.5
61.1
59.7
44.7
31.4
78.8 79.7
Loans
(Rp tn)
Y‐O‐Y Growth
(%)
% of
Portfolio
Corporate
79.66
30.43%
48.41%
Commercial
43.64
11.58%
26.52%
Small
15.84
18.71%
9.63%
Micro
4.84
39.98%
2.94%
Consumer
20.56
17.35%
12.50%
Total
164.54
22.33%
100.00%
As of June 2009; Non‐consolidated numbers
6
Rp20.4tn in loans disbursed in Q2 ‘09
Loan Disbursement by Segment (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only
4.25
20.44
7.32
4.13
2.22
0.27
1.10
164.54
160.07
1.92
4.09
20.44
11.12
Q1 '09
Disburs.
Install.
Payment FX Impact Write‐Offs
Q2 '09
Corporate
Commercial
Small
Micro
Cons Fin
Total
7
Committed to Improving Shareholder Value
Reduce Cost of Funds
Reduce Cost of Funds
Business Strategy
Improve Assets Yield
Diversify into Fee Income
Competitive,
sustainable
sustainable
returns, with
above‐average
rates of growth
t
f
th
Reduce Provision/NPL
d
ii /
Support Strategy
Strategic
Alliances
Reduce Cost Efficiency
Leverage on cash generator to
accelerate growth in higher yield
business
8
Building on our Business and Support Strategies
with an Alliance Focus
with an Alliance Focus
Alliance Strategy Focus
Cross sell products to
employees as customers:
employees as customers:
‐ Payroll
‐ Mortgage or auto loans
‐ Corporate/ Retail cards
Corporate
SBU
Strategic
Alliances
Business Strategies
Improving supplier network and
distributor
‐ Providing basic transaction
and cash management
‐ Supporting suppliers and
distributors in working capital
financing
1. Strengthening our deposit franchise, to become
primary payment bank
2. Developing high yield business
3. Enhancing wholesale franchise and diversifying
wholesale transactions
4 Connecting the business, leveraging synergy
4.
Connecting the business leveraging synergy
5. Non‐organic growth & synergy in optimizing
subsidiaries
Cross sell products for employee as customers : Payroll, mortgage, auto
loans commercial / retail cards
loans, commercial / retail cards
Developing wealth management for individual Director or owner operators
Support Strategy
Efficiency
Risk Management
Increase IT Operations
efficiency and
centralized and
consolidated
procurement
Increase earning assets
monitoring and
perfecting early
warning signal
Consolidated risk and
monitoring subsidiaries
Human Capital
Enhance employee
productivities and
internal culture
Apply best practice for
recruit, retain and
develop
Information Technology
Implement Business
Solution Excellence to
support payment bank
strategy
Performance Culture
Apply Value Based
Management as the
next step of
Performance Culture
Implement Service
Excellence Strategy to
support business growth
b i
h
and services
9
Q2 Deposits rise 22.0% Y‐o‐Y
Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
Rp Demand Deposits
Rp Time Deposits
Low‐Cost Deposits (%)
FX Savings Deposits
FX Demand Deposits
FX Time Deposits
13.1%
13.9%
57.0%
31.4%
44 5%
44.5%
58.6%
57.2%
59.2%
57.8%
97.9
19.5
17.5
7.4 8.2 8.3
7.7
4.7 5.4
54
64
6.4
4.9 4.7
9.3%
9.1% 8.7%
7.4%
7.4%
6.3%
3.8% 4.2%
3.2% 3.0% 2.9%
3.4%
3.5%
3.6%
2.6%
2.5%2.5% 2.2% 2.8%
3.7%
3.0%
45.4
43.0
51.8
44.0
41.3
35.4
31
1.0
33.6
30.1
28.0
33.1
1
36.4
50.4
11.9
18.1
78.2
69
9.1
66.7
63.3
91.9
95.7
16
6.1
14.7
73.4
13.7
14.6 11.2
13.5
10.5
6.9%6.8%
4.7%
6 1%
5% 6.1%
15 1
15.1
9.8
8.2%8.0% 8.3%
7.4%
5.3%
9.5%
9 2%
9.2%
8.8%
7.4%
3.3%2.8%
2.5%
0%
FX DD
FX TD
6%
4.0%
3.7%
3
7% 3.9%
3 7%
3.7%
4%
3.32%
2.8%
2.6%
3.5
2%
82.8
77.2
82.2
75.8
80.8
76.3
81.5
65.7
62.5
57.2
57.6
45.2
52.0
40.6
24.8 29.6
31.118.0
14.1
14.3
31.2 22.1
28.8
4.1 4.2
70
0.0
72.9
8
80.5
93.2
66.5
80.5
11.9 11.4
12.1
13.9
12.6
11.6
17.3
100.7
106.9
9.1 10.2
91
9.1
50
25
20.6
23.4
97.1
1
75
87.8
100
21.5
125
16.5
150
15.7
200
14.7
15.9
225
16.2
250
175
10.9%
10.4%
11.4%
9.9%
32.9%
23.1%
Rp Savings
1 Mo. SBIs
11.9%
10% 9.5%
45 3%
45.3%
21.4
275
54.2%
61.5%
Rp DD
Rp TD
15%
0
2.4%
2.1%
1.6% 1.8%
1.9%
0%
1.1%0.9%
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q4 '99
10
Building a strong savings deposit franchise…
Transaction channel growth
Savings Deposit Growth
Savings Deposits (Rp tn)
Other
Other
Payment
Transfer
Withdrawal/Inquiry
Avg ATM Daily Vol (000)
A % fT lD
As % of Total Deposits
i
National Share of Savings Deposits (%)
63.20
57.09 55.80 61.63 106.55
97.39
74.71
84.70
54.48
51.04 65.9
49.59 58.76
55 00
55.00
40.0%
38.6%
35.6%
34.6%
1,1
158.9
1,1
100.5
1,0
043.4
9
976.7
8
899.7
8
853.4
6
677.0
6
607.5
29 2%
29.2%
4
492.1
22.8%
30.81
19.6
33.7%
32.8% 33.4%
1,0
088.8
30.6%
37.37
39.07
29.79
29.3
22.7%
18.5%19.1%19.3%
17.5%
%
% 18.0%17.3%
17.9%
17.2%
16 9%
16 2%16.9%
16.2%
16.0%
Quarterly Call Center Trans. (000)
12.8%
11.6%
3,165
Quarterly SMS Trans. (000)
15.3%
11.0% 11.7%
2,955
2 784
2,988
2
988 2,784
17,969
19,772
18,116
22,328
25,819
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
16,974
Q4 '06
33,502
11,575
Q4 '05
679
1,069
, 3,072
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
1,086
1,016
6,988
27
3,009
Q4 '04
91.11
85.39
89.61
82.16
88.52
81.65
81.54
57.60
45.20
52.00
40.50
29.59
22.12
17.96
1,722
3,029 3,464
11
...through vastly improved service levels...
MRI Survey: Best Bank in Service Excellence 2008
2004
2005
87.04
89.13
86 81
86.81
84.57
87.17
Mandiri
3
2007
2006
89.64
2
Mandiri
1
2008
89.82
Mandiri
1
89.24
89.03
88.00
85.85
86.91
87.65
87.82
85.76
85.91
86.70
87.32
84.66
85.30
86.18
84.01
81.38
84.15
84.80
81.31
83.04
83.06
80.67
80.69
81.86
82.11
80.36
80.12
81.00
81.04
79.33
Mandiri
82 46
82.46
80.53
83.11
80.00
81.79
78.77
78.62
75.69
73.92
Mandiri
11
73.50
76.46
80.80
79.29
78.49
12
…and enhanced transaction capabilities
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
125
122.88
ATM
Branch
SMS Banking
Internet Banking
80
77.10
70.10
Debit Cards
99.83
Internet Banking
57 66
57.66
64.68
8,000
7,629
7,202
49.11
77.89
7,000
69.97
6,642
40.71
5,752
6,000
35.54
40
5,116
4,793
4,355
5,024
31.87
5,000
50
42 11
42.11
35.10 36.24 36.55
9,950
8,828
9,000
60
60
10 006
10,006
SMS Banking
SMS Banking
10,000
110.13
88.75
67.76
11,000
114.98
100
75
Quarterly Users (000s)
38.51
25
16.97
19 77
19.77
42.28
40.59
41.39
33.50
25.82
22.33
4,000
ATM
SMS Banking
Internet Banking
20
3,652
2,989
3,000
2,000
2,413
1,897
,
1,523
11.57 12.24
8.33
0
0
1.71 2.39
0.84 1.31
1,111
8.32
6.08
3.37 5.55
0.56
0
0
0.28
1.60
2.20
4.044.75
3.61 3.81
0.36 0.55
0 1
0.71
1 02
1.02
0.88
1.811.28
1 281.43
1 43
1,000
0
0
849
564 705
469
358
1,089
988
Q2 '09*
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
* Inactive cards have been purged
13
Enhancing deposit franchise, building on
wholesale transactions
Cash Management Growth in Commercial Banking
Wholesale Deposit Growth (CASA)
(Rp tn)
Q2 Transactions (000s)
21
2.1
Comm Savings
Comm Demand
Corp Savings
Corp Demand
# of Customers
Q1 Transactions (000s)
+20.8%
1.4
1.8
21 0
21.0
18.1
19.4
0.6
0.7
12.1
10
1.0
4,910
14.8
632
4,066
239
34.0
24.9
36.5
35.2
407
2,414
23.0
154
745
2005
2006
2007
2008
Q2 '09
2007
2008
2009
2006
2007
2008
H1 '09
14
Q2 NIM of 5.3% on asset yields of 9.9%
Quarterly Net Interest Margins*
13.0%
Quarterly Yields & Costs by Currency*
20% 18.9%
Yield on Assets
Cost of Funds
13.0%
IDR
15.9%
15% 14.0% 13.1%
14.0%
10.8%
11.0%
10.7%
10.8%
10.7%
10.5%
9.9%
10.1%
9.5%
9.4%
9.0%
8.9%
7.4%
10.8%
6.9%
5%
13.2% 12.9%
12.9%
12.0%
10.4%
11 7%
11.7%
8.8%
8.2%
8.0%
7.7%
11.1% 10.9% 10.6%
8 5%
8.5%
8.3% 10.3%
9.1%
8.0%
7.4%
5.0%
5.4%
4.6%
4.0%
5.8%5.9%5.3%
0%
6.4%
6.3%
12.1%
8.2%
9.3%9.2%
7.3%
4 8%
4.8%
NIM
10%
12.5%
11.1%
13.2%
11.9%
5.5%
5.3%
4 9%
4.9%
4 8%
4.8%
4.5%4.3%
Avg Loan Yield
Avg 1‐Mo. SBI
Avg Bond Yield
Avg COF
15%
4.2%
3.8%
10%
FX
9.5%
7.6%
6.5%
7.3%
5.1%
5.3%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
4.9%
5.5%
4.9%
3.6%
4.3%
3.7%
2.8%
3.9%
2.4%
3.8%
5.3%
4.0%
0%
1.4%
1.8%
5.3%
5 8%
5.8%
6.8%
6.5%6.6%
5.3%
4.9%
2.7%
3.0% 2.7%
3.4%
3.5%
2.6%
2.2%0.5%0.4%
2.3%
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q4 '05
Q4 '04
Q4 '03
Q4 '02
Q4 '01
Q4 '00
*Excluding the impact of non‐recurring interest income
5% 6.7%
5 7%
5.7%
15
Building our high yield business in Micro & Small…
Small Credits
(Rp Bn)
Micro Credits
(Rp Bn)
Loan
Yields
13.6%
21.9%
14.0%
2 94
2,594
2,594
1,382
Q2 2008
Growth
18,109
20.1%
15,515
5
Q2 2009
15,496
Growth
12,902
4,839
3,457
7
39.9%
Q2 2008
Consumer Loans
(Rp Bn)
Q2 2009
16.7%
Q2 2008
Growth
Q2 2009*
*Excluding Credit Cards
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
Disbursement Breakdown (H1 ‘09)
Disbursement Breakdown (H1
09)
0
572
438
313
1,937
2,232
664
824
464
2 456
2,456
3,063
1,363
882
295
TOTAL
Cash Coll
TOTAL
Coops
Unsecured Micro
Program
Micro
Non‐Prog
Rural Banks
Mortgage
Home Equity Payroll Loan
Loan
Other
Total
16
…as well as Consumer lending, which rose 17.3%
g g
y
Y‐o‐Y on Mortgages and Payroll Loans
Quarterly Consumer Loan Balances by Type
Consumer Loan Growth by Type
Rp20 56 tn
Rp20.56 tn
Other
22,000
3,983
3
3,99
93
3
3,658
Other*
56.25%
10.35%
Credit Cards
22.14%
8.93%
Payroll Loans
12.04%
2.90%
Home Equity Loans
Home Equity Loans
0 05%
0.05%
0 18%
0.18%
Mortgages
22.43%
5.22%
Total Consumer
17.34%
4.58%
8,814
8,3
376
8,052
7,717
Q‐o‐Q
3,704
3,697
3,721
3,761
1
3,865
7
7,199
3,404
3,663
6,393
3,522
3,610
5,382
3,666
3,574
4,501
3,867
3,452
3,390
3,979
3,437
3
3,612
3,70
02
3,010
3,192
1
1,908
425
2,789
1,426 2,644
2
1,358 2,427
1,293 2,285
1,241 1,996
3,250
815 1,802
328
0 283
4,033
2,000
3,050
21
Q2 '09
Q1 '09
Q4 '08
Q3 '08
Q2 '08
Q1 '08
Q4 '07
Q3 '07
Q2 '07
Q1 '07
Q4 '06
Q3 '06
Q2 '06
Q1 '06
Q4 '05
Q4 '03
2,852 1,522 Q4 '04
4,000
4,131
1,270 1,921
6,000
1,279 1,906
1
72
8,000
1,367 1,930
10,000
218 224 230
1,231 2,,165
180 196 211
350
1,678
12,000
3,9
999
495
1,926
6
14,000
Y‐o‐Y
4,099
619
2,008
16,000
2,251
956
1,279
9 2,223
Mortgages
1,14
45 2,113
Home Equity Loans
18 000
18,000
Loan Type
Growth (%)
2,4
452
Payroll Loans
1,353
20,000
1,493
Credit Cards
* Auto & Motorcycle Loans channeled or executed through finance
companies = Rp4.76 tn in our Commercial Loan Portfolio
* Auto loans through Tunas Finance of Rp252 bn booked in the
Consumer Loan Portfolio in Q2
17
11
68
3
72
17
67
19
62
17
58
9
61
10
62
32
57
59 19 39
63 63 59
42
18 8
68
81
56
23
24
10
59
62 16
61 57
226
338
651
752 765
784
817
872
919
18
52
54
Transfer Balance
Cash Advance
Retail
1,486
1,409
1,331
1,273
1 226
1,226
1,159
1,089
1,033
966
Receivables (Rp Bn)
Cards (000s)
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
Mandiri Visa & Mastercards and EOQ Receivables
1,486k Visa & Mastercards transacted Rp2.27 tn
in Q2 2009
2,163
3
Q2 '09
1,891
1
Q1 '09
1,914
4
Q4 '08
1,904
4
Q3 '08
1,668
8
Q2 '08
1,443
3
Q1 '08
1,514
4
Q4 '07
1,225
5
Q3 '07
1,067
7
Q2 '07
936
6
Q1 '07
836
6
Q4 '06
755
5
Q3 '06
621
1
Q2 '06
553
3
Q1 '06
600
0
Q4 '05
606
6
Q3 '05
532
2
Q2 '05
521
1
Q1 '05
535
5
Q4 '04
2,452.2
2
Q2 '09
2,251.0
0
Q1 '09
2,223.2
2
Q4 '08
2,112.7
7
Q3 '08
2,007.7
7
Q2 '08
1,925.9
9
Q1 '08
1,907.5
5
Q4 '07
1,677.6
6
Q3 '07
1,426.2
2
Q2 '07
1,357.5
5
Q1 '07
1,292.8
8
Q4 '06
1,230.7
7
Q3 '06
1,240.8
8
Q2 '06
1,279.4
4
Q1 '06
1,367.4
4
Q4 '05
1,270.2
2
Q4 '04
814.9
9
Q4 '03
567.5
5
Q4 '02
Diversifying our strength in Wholesale lending…
Breakdown of Net Expansion in Corporate SBU Lending
Q2 ’08 – Q2 ’09 (Total Rp18.07 tn)
%
Breakdown of Net Expansion in Commercial SBU Lending
Q2 ’08 – Q2 ’09 (Total Rp5.34 tn)
%
1,565
71 03%
71.03%
Agri
989
27.62%
Mfg‐F&B
759
45.43%
Other
664
7.93%
Mass Trans
644
38.99%
Mfg‐Oth
354
5.06%
57.89%
Constr
334
6.58%
596
11.41%
Mfg‐Text
318
20.23%
Trad‐Distr
403
29.09%
Mfg‐P&P
g
275
21.92%
Other
249
32.61%
Trading‐H&R
266
27.58%
Soc Serv
209
122.30%
Mfg‐NonM
195
101.57%
Mf F&B
Mfg‐F&B
4 970
4,970
51.23%
d
Trading‐Distr
Bus Serv
2,888
121.40%
Agri
2,774
46.39%
Constr
1 948
1,948
88 41%
88.41%
Mfg‐Chem
1,687
33.99%
Comm
989
15.73%
Mfg‐RawM
g
980
5 754 23%
5,754.23%
Utilities
844
Mining‐Oil & Gas
Mfg‐Oth
179
4.45%
Comm
162
162
166 93%
166.93%
Mining
147
16.55%
Trad‐Oth
(90)
(7.44%)
Trad‐H&R
(132)
(72.29%)
Trad‐Ret
(163)
(39.86%)
Trading‐Dom
(569)
Mining‐Oth
(261)
(18.41%)
Utilities
(760)
Rp Billion
(64.65%)
Rp
p Billion
(
(70.19%)
)
2,000
1,500
1,000
500
0
(500)
(1,000)
6,000
5,000
4,000
3,000
2,000
1,000
0
(1,000)
(2,000)
19
…into Fee‐based Income
Breakdown of Q2 2008 & 2009 Non‐Loan Related Fees & Commissions (Rp bn)
Non‐Loan Related Fees & Commissions
H1 ‘08
Q1 ‘09
Q2 ‘09
H1 ‘09
Q2 %
(Q o Q)
(Q‐o‐Q)
H1 %
(Y o Y)
(Y‐o‐Y)
Administration Fees
498.67
290.33
351.77
642.10
21.2%
28.8%
Opening L/Cs, Bank Guarantees & Capital
Markets
191.46
121.41
128.46
249.88
5.8%
30.5%
Subsidiaries
281.92
79.83
148.55
228.39
86.1%
(19.0%)
Transfers, Collections, Clearing & Bank
Reference
105 58
105.58
57 70
57.70
56 38
56.38
114 07
114.07
(2 3%)
(2.3%)
8 0%
8.0%
Credit Cards
165.68
113.35
136.98
250.33
20.9%
51.1%
26.96
6.17
13.16
19.32
113.3%
(28.3%)
338.35
162.89
221.28
384.17
35.9%
13.5%
Total
1,608.61
831.67
1,056.59
1,888.26
27.0%
17.4%
Total Operating Income#
8,927.82
5,601.03
5,664.74
11,265.77
1.1%
26.2%
18.02%
14.85%
18.65%
16.76%
25.6%
(7.0%)
Mutual Funds & ORI
Mutual Funds & ORI
Others*
Non‐Loan Related Fees to Operating
Income**
* Others includes Syndication, Payment Points, ATMs, Debit Cards, etc.
** Non‐Loan related fees & commissions/(Total Operating Income ‐ Non‐recurring interest income)
# Excluding non‐recurring interest income
20
Strong FX revenues but limited derivative
exposure
FX Fees(Rp bn) – Bank Only
Derivative Exposure (Rp bn) – Bank Only
800
Transactions
Total
Notional Fair
Notional
Fair
Derivative Derivative
Derivative
Derivative
Amount Value Receivable Payables
Foreign Exchange
Q2
Forward ‐
d buy
b
600
Forward ‐ sell
Swap ‐ buy
587 4
587.4
Swap ‐ sell
400
2,552
2,520
1
33
389
384
8
2
859
859
859
859
9
9
10
10
4,705
4,482
228
6
20
‐
20
246
71
(5)
‐
241
71
Interest Rate
Swap ‐ interest rate
155.0
142.4
132.8
Total
200
Less: Allowance for possible losses
ll
f
bl l
120.3
82.2
106.9
193.7
109.9
0
102.9
83.5
83.5
72 7
72.7
2006
2007
2008
Total
16.1
2005
2009
21
Q2 NPLs fell to Rp8.6 tn on upgrades and FX
p
impacts
Non‐Performing Loan Movements (Rp bn) – Bank Only
10.52
1.36
0.48
0.30
0.27
Movement by Customer Segment (Rp Bn)
Cons
57.5
41.2
80 2
80.2
0 51
0.51
Micro/Small
C
Comm
8.56
Corp
1,182.1
109.3
Q1 '09
UG to PL DG to NPL Payment Write‐Offs
Other
Q2 '09
UG to PL
220.2
69.3
96.3
147.8
147
8
2.5
102.9
DG to NPL
W/O
22
Gross NPLs decline to 4.78% with provisioning
g
p
g
coverage improving at 136.1%
NPL Movement ‐ Consolidated
Category 2 Loans – Bank Only
70.9%
%
212.6%
190.4%
201.7% 187.5%
182.4%
175.8%
146.7%
25.28%
163.8%
163
8%
138.9% 136.1%
151.1%
122.6% 127.1%
109.0%
139.1%
129.5% 128.8%
70.0%
Cat 2 %
18,000
40%
16,000
14,000
30%
12,000
26 18%
26.18%
10,000
1
12.20%
15.47%
%
16.29%
16.34%
19
9.80%
100 9%
100.9%
116.6%
86.7%
50%
20,000
,
20%
8,000
44.4%
6,000
1.1% 1.0%
2,000
9.22%
10.20%
9.66%
10%
0%
0
Q2
2 '09
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Net NPL Ratio
Prov/NPL incl. Coll.
4,000
9.16%
15,895
16,332
15,412
13,502
13,451
14,058
15,148
15,586
15,854
16,750
16,966
12,912
8,334
10,983
16,202
12,655
15,350
4,033
4.78%
5..85%
4.73%
4.44%
4.74%
5.14%
7.17
7%
15.3%
7.10
0%
8.60%
7.30%
9.70%
1.5%
Q2
2 '09
Q1
1 '09
Q4
4 '08
Q3
3 '08
Q2
2 '08
Q1
1 '08
Q4
4 '07
Q3
3 '07
Q2
2 '07
Q1
1 '07
Q4
4 '06
Q4
4 '05
Q4
4 '04
Q4
4 '03
Q4
4 '02
Q4
4 '01
Q4
4 '00
Q4
4 '99
Gross NPL Ratio
Prov/NPL
15.86%
14 98%
14.98%
13.99%
12.87%
11.46%
2 ‐ Special Mention Loans (Rp Bn)
23
Cash Provisioning remains high for both NPLs
and Category II loans
Collateral Valuation Details
Non‐Performing Loans by Segment
NPLs
(Rp tn)
Q2
(Rp tn)
NPLs
(%)
Collectibility
1
2
3
4
5
Corporate
5.24
(1.98)
6.58%
Total Cash
Prov. (Rp bn)
1,557
3,391
197
335
6,557
Commercial
1.85
(0.06)
4.25%
SSmall
a
0.61
0
6
0.06
0
06
3.82%
3
8 %
% Cash
o so s
Provisions
1.1%
21.3%
19.0%
61.7%
94.0%
Micro
0.27
0.01
5.61%
‐
3,783
‐
‐
560
Consumer
0.59
0.01
2.85%
8 56
8.56
(1 96)
(1.96)
4 78%*
4.78%
11
‐
‐
6
Total
Collateral Prov.
(Rp bn)
# of Accounts
* Excluding Restructuring Losses and loans to other banks.
• Bank Mandiri’s current provisioning policy adheres
to BI requirements
• As of 30 June ’09, loan loss provisions excess to BI
A f 30 J
’09 l
l
ii
t BI
requirements = Rp253 bn
Provisioning
Policy
Performing
Loans
Non‐Performing
Loans
Collectibility
1
2
3
4
5
BI Req.
1%
5%
15%
50%
100%
BMRI Policy
1%
5%
15%
50%
100%
BMRI pre‐2005
2%
15%
50%
100%
100%
• Collateral has been valued for 17 accounts and collateral
provisions of Rp4,343 bn (27.0% of appraised value) have
been credited against loan balances of Rp5 306 bn
been credited against loan balances of Rp5,306 bn
• Collateral value is credited against cash provisioning
requirements on a conservative basis. For assets valued
above Rp 5bn:
– Collateral is valued only if Bank Mandiri has exercisable rights to
claim collateral assets
– 70% of appraised value can be credited within the initial 12
months of valuation, declining to:
•50%
50% of appraised value within 12 to 18 months
of appraised value within 12 to 18 months
•30% of appraised value within 18 to 24 months
•No value beyond 24 months from appraisal
24
Q2 2009 Annualized net upgrades of 1.52% on
g
g
loans originating since 2005
Total Loans originated since 2005
Net Upgrades (%)/Downgrades (%) #
Q2 2009 Details
Loan
Background
Q2 ‘09
Balance
Balance
(Rp bn)
Q2
2007
Q3
2007
Q4
2007
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
DG to
NPL
%
UG to
PL
%
Corporate
61,262.6
0.49
0.55
‐
‐
0.10
0.11
0.48
1.05
1.15
‐
1.15
Commercial
28,739.2
0.60
0.18
0.02
0.33
0.14
0.21
1.05
0.78
0.03
0.09
0.07
Small/Micro
16,512.5
1.56
1.07
0.59
0.92
0.58
0.59
1.20
1.06
1.00
1.17
0.17
Consumer
18,808.0
0.34
0.28
0.01
0.42
0.13
0.22
0.13
0.49
0.27
0.48
0.21
Total
125,332,3
0.29
0.23
0.08
0.28
0.18
0.21
0.65
0.91
0.38
0.25
0.63
# % downgrades and upgrades
# % downgrades
and upgrades are quarterly % figures
are quarterly % figures
25
Progress on selected debtors as of 30 June 2009
Total Group exposure outstanding as of 30 June 2009 was Rp1,491 billion, with performing
p p
g
p ,
,
p
g
loans (PL) of Rp 1,321 billion (89% of total) and non‐performing loans (NPL) of Rp 170
billion (11% of total).
Industry : integrated textiles and property
The Group consists of 7 companies: Alfa Goldland Realty (Category 2), Argo Pantes
(Category 2), Budhidarma Jakarta (Category 2), Daya Manunggal (Category 2), Grand Textile
Industry (Category 2), Lawe Adyaprima Spinning Mills (Category 5) and Grand Pintalan
Textile Ind. (Category 2).
Argo
A
Manunggal
Group
Collateral coverage is currently 213% of loans outstanding.
Update:
Due to the impact of the global crisis in 2008 and early 2009, the principal payments
have been restructured for the textile and property sector loans to adjust to the cash‐
flow ability.
The Toll access for Alam Sutera has been under construction since July 2007 and has
recently been completed. The opening of the Toll Access Road corresponds with the
recently been completed. The opening of the Toll Access Road corresponds with the
Grand launching in August 2009, and is expected to accelerate sales.
Account strategy : Closely monitor for the debtor’s requirements according to the entire
restructuring scheme.
26
Progress on selected debtors as of 30 June 2009
Total outstanding to this group as of 30 June 2009 was Rp322 billion.
Industry : integrated textile .
Batam Textile
I d t
Industry
The debtor has been upgraded to Category 2 (Special Mention).
The
The debtor settled loans in Q2/2009 amounting to Rp86 billion (principal and
debtor settled loans in Q2/2009 amounting to Rp86 billion (principal and
interest).
The account strategy is “maintain” and we are now in the process of intensive
monitoring.
o to g.
Total outstanding to this debtor as of 30 June 2009 was Rp241 billion.
Industry : tin can and bottle cup.
Ancol Terang
MPI
The debtor has been upgraded to Category 2 (Special Mention).
The obligor settled loans in Q2/2009 amounting to Rp15 billion (principal and
interest).
The account strategy is “maintain” and we are now in the process of intensive
monitoring.
27
Strengthening Risk Management & Monitoring
y
System
Summary of Risk Management Initiatives
Corporate Customer by Rating
C dit
Credit
• Enhance business process credit approval, CR
methodologies & tools (monitoring system)
• Develop & enhance collection systems
Develop & enhance collection systems
• Optimize credit portfolio management system
• Consolidate risk profile (incl. overseas offices &
subsidiaries – Credit, Market & Operational)
Market
•
•
•
•
•
High Risk (Rating C‐ G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
100%
15%
80%
12%
11%
9%
24%
21%
22%
34%
60%
%
Implementation of stress test analysis
Development of derivative system (summit)
Enhance Risk Mandiri Policy (KMRBM)
Enhance Treasury policy
yp y
Implement Risk Profile System (RPM)
40%
64%
20%
68%
69%
51%
Operational
• ORM implementation in all unit, incl. overseas
offices & subsidiary
• Set up Operational Risk Committee under RCC
• Synchronization of Risk‐Based Audit
methodology with RCSA (ORM)
0%
2006
2007
2008
Q2 '09
28
Q2 Cost to Income Ratio rises to 42.8% on higher
Personnel expenses
p
Quarterly Consolidated Operating Expenses & CIR*
Breakdown of Q2 2008 & 2009 Operating Expenses
CIR* (%)
Annual Avg CIR (%)
g
( )
Q2 ‘08
Q2
Q2 ‘09
QoQ
Q‐o‐Q
YoY
Y‐o‐Y
Personnel Expenses
58.9%
47.2%
47.2%
40.4%
42.8%
42.3%
40.2%
40.4%
35 1%
35.1%
28 2%
28.2%
358,365
425,916
20.56%
18.85%
Other Allowances
Other Allowances
493 668
493,668
597 580
597,580
27 10%
27.10%
21 05%
21.05%
Post Empl. Benefits
102,075
186,116
32.69%
82.33%
74,818
32,266
7.62%
(56.87%)
128,772
,
148,455
,
21.32%
15.29%
1,157,698
1,390,333
24.58%
20.09%
IT & Telecoms
IT & Telecoms
200 335
200,335
171 774
171,774
3 71%
3.71%
(14 26%)
(14.26%)
Occupancy Related
240,043
260,771
14.35%
8.64%
Promo. & Sponsor.
200,296
168,747
82.10%
(15.75%)
Transport & Travel
Transport & Travel
73 474
73,474
67 342 (0.61%)
67,342
(0 61%)
(8 35%)
(8.35%)
90,720
115,264
24.29%
27.05%
Employee Related
82,299
100,139
26.50%
21.68%
146 600
146,600
120 247
120,247
18 72%
18.72%
(17 98%)
(17.98%)
1,033,767 1,004,284
21.40%
(2.85%)
Training
Subsidiaries
Total Personnel
Expenses
1,116
1,390
1,197
72
1,17
1,158
929
795
1
1,005
1,309
1,049
9
869
241
1,2
723
377
327
649
Base Salary
G & A Expenses
957
7
336
753
775
749
1,034
842
1,016
710
748
957
993
769
1,034
916
1,148
827
1,004
Prof. Services
Q
Q4 '00
Q
Q4 '01
Q
Q4 '02
Q
Q4 '03
Q
Q4 '04
Q
Q4 '05
Q
Q4 '06
Q
Q1 '07
Q
Q2 '07
Q
Q3 '07
Q
Q4 '07
Q
Q1 '08
Q
Q2 '08
Q
Q3 '08
Q
Q4 '08
Q
Q1 '09
Q
Q2 '09
Subsidiaries
G&A Expenses (Rp bn)
Personnel Expenses (Rp bn)
*Excluding the impact of non‐recurring interest income & bond gains
Total G & A Expenses
29
Leveraging cash generator to accelerate high yield
ggrowth
Net Interest Income
1,169
1 396
1,396
Corporate
Building Future Growth Engine
(Consumer & Micro/Retail)
CM = Rp2,589 billion
Leveraging Our Cash
Generator
(Corporate & Treasury)
CM = Rp2,431 billion
% of Total
NII (Rp bn)
Alliance Strategy Focus
1,377
Commercial #
Treasury & Int'll
Treasury & Int
2,168
22.1%
18.4%
26.1%
28.6%
5.6%
296
356
4.7%
1,969
2,817
Micro & Retail *
Consumer Finance
H1 '07
H1
07
H1 '09
37.3%
37.2%
8.9%
470
11.0%
836
Fee Income
% of Total
Fees (Rp bn)
Strengthen Emerging Business
(Commercial Banking)
CM = Rp2,189 billion
Corporate
189
274
Commercial #
89
291
Treasury & Int'l
11.1%
5.8%
11.8%
445
634
28.8%
674
44.6%
Micro & Retail *
Consumer Finance
12.2%
H1 '07
H1 '09
25.7%
1 124
1,124
45 6%
45.6%
149
142
# Including Small Business *Excluding Small Business
9.6%
5.8%
30
Leveraging cash generator to accelerate high yield
ggrowth and deposit franchise
p
Consumer Loans from Alliance Program
(10 top corporate clients)
Co‐Branding Prepaid Card Program
Rp Billion
1,609
1,389
1,259 1,275
1,128
791
319
391
486
897
532
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09 Q2 '09
Corporate Card Holder from Alliance Program
(10 to corporate clients)
(10 to corporate clients)
7,272
Plantation Small & Micro Lending from Alliance
Program
418
350
3,625
234
1,616
1,620
1,796
1,869
2,007
Q4'07
Q1 '08
Q2 '08
Q3'08
Q4'08
259
416
427
Rp Billion
427
423
347
268
149
Q1 '09
Q2 '09
Q4 '06 Q1 '07 Q2 '07 Q3 '07 Q4'07 Q1 '08 Q2 '08 Q3'08 Q4'08 Q1 '09 Q2 '09
31
Enhancing synergies & values from subsidiaries
Syariah Banking
Investment Banking
Insurance
Niche Banking
Multi‐Finance
Bank Sinar
Harapan Bali
Total Assets
Rp18 7 tn
Rp18.7 tn
Bond Trading Volume
Rp8 42 tn
Rp8.42 tn
Total Assets
Rp4 97 tn
Rp4.97 tn
Total Loans
Rp342 bn
Rp342 bn
Total Financing
Rp751 1 bn
Rp751.1 bn
Total Financing
Rp14.2 tn
Bond Underwriting
Rp875 bn
Annual FYP
Rp 166.6 bn
Net Interest Margin*
11.46%
Net Interest Margin
6.72%
Total Deposits
Total
Deposits
Rp16.4 tn
Equity Trading Volume
Equity
Trading Volume
Rp18.89 tn
Fee Contribution
Fee
Contribution
Rp55.66 bn
ROA
4.1%
ROA (Before Tax)
(Before Tax)
3.52%
ROE
18.9%
ROA
5.2%
ROE
45.2%
ROE
11.4%
ROE (After Tax)
18.76%
• Remain the leader in
syariah financing
• Capital injection program
over 3 years
• Cross‐sell syariah
products to Mandiri
customers
• Expansion of business to
fully utilize current capital
b
base
• Cross‐sell capital market
services to broad range of
Mandiri customers
• Refocus business toward
Refocus business toward
higher fee income
• Provide end‐to‐end bank
assurance business
• Continue to build cross‐
sell opportunities in
various segments
• Bank assurance products
complete our suite of
complete our suite of
consumer offerings
• Enhance operating model
• Improve risk
management systems
and IT
• Improve productivity
•Use Bank Mandiri’s
network infrastructure
th
throughout Indonesia to
h tI d
i t
develop multi‐finance
segment, especially in
vehicle‐ownership
financing.
* Excluding deposits made by
Bank Mandiri
32
H1 2009 operating profit up 35.3% from H1 2008
H1 2008
H1 2009
Rp billion
Rp billion
2,481
4,906
1,989
4 384
4,384
Up
35.3%
8 660
8,660
7,004
6,235
4,610
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
Notes :
1. Fee based income excluding gain on sale & increasing value GB & securities
2. Overhead expenses + others excluding provisions
Net Interest Income
Net Interest Income
Fee‐Based Income
Fee‐Based Income
Overhead Expenses &
Overhead
Expenses &
Others
Pre‐provision
Pre‐provision
Operating Profit
33
Strong Revenue Growth
Summary P&L
H1 2008
Rp (Billions)
H1 2009
% of Av.Assets*
Rp (Billions)
H1 Y‐o‐Y
% of Av.Assets
(%)
Interest Income
12,175
8.1%
16,603
9.6%
36.4%
Interest Expense
(5,171)
(3.5%)
(7,943)
(4.6%)
53.6%
Net Interest Income
Net Interest Income
7 004
7,004
4 7%
4.7%
8 660
8,660
5 0%
5.0%
23 6%
23.6%
Other Operating Income
1,989
1.3%
2,481
1.4%
24.7%
10
0.0%
124
0.1%
1,140.0%
Gain from Increase in Value & Sale of Bonds
Provisions, Net
(855)
(0.6%)
(1,974)
(1.1%)
130.9%
Personnel Expenses
(2,195)
(1.5%)
(2,506)
(1.4%)
14.2%
G & A Expenses
G & A Expenses
(1 798)
(1,798)
(1 2%)
(1.2%)
(1 832)
(1,832)
(1 1%)
(1.1%)
1 9%
1.9%
Other Operating Expenses**
(391)
(0.3%)
(568)
(0.3%)
45.3%
Profit from Operations
3,689
2.5%
4,385
2.5%
18.9%
Non Operating Income
72
0.0%
115
0.1%
59.7%
Net Income Before Tax
3,761
2.5%
4,500
2.6%
19.6%
Net Income After Tax
Net Income After Tax
2 610
2,610
1 7%
1.7%
2 927
2,927
1 7%
1.7%
12 1%
12.1%
* % of Average Assets on an annualized basis
** primarily premiums paid under the blanket guarantee scheme
34
…supported by strong capital at 14.1%
Capital & RWA Movement
Profit After Tax & ROE
IDR bn
26.2%
26
2%
23.6%22.8%
21.5%
CAR
31.3%
18.1%18.7%
15.8%
23.4%
183.9
1,,526
1,221
1
1,400
1
1,390
1,027
372
610 372
610
97 305
519 510
1,113
Total Capital (Rp tn)
744
1,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 Q2
Q2 '09
09
1,549
308
1,168
1,3
300
13.3 15.4 17.0 25.5 27.5 27.4 28.4 28.3 27.2 25.9
RWA (Rp tn)
690
602
72.5
42.6
58 1
58.1
1,234
91.9
1,32
29
967
1,040
645
1,0
017
134.0
15.7%
115.9 112.2
14.1%
799
1,528
172.9
2.5%
1,345
21 1%
21.1%
108.9
819
10.0%
1,16
66
25.3%
25.3%
23.7%
775
1,40
08
Q4 PAT
Q4
PAT
Q3 PAT
Q2 PAT
Q1 PAT
1,390
27.7%
26.4%
R E AT
RoE ‐
(623)
2001 2002 2003 2004 2005 2006 2007 2008 2009
35
Operating
O
i
Performance
Performance
Highlights
g g
36
Corporate Banking:
Contribution Margin declines on rate increase
Contribution Margin (after PPAP)
Rp bn
Performance to Date: H1 2009
Rp bn
274
139
104
1,582
1,628
2,906
Q1
Q2
Q3
Q4
544
537
811
547
26.4%
1106
592
545
2007
741
2008
1. Refine organization to be more
i d t f
industry focused ,& strengthen
d & t
th
funding sales team to gain rapid
business growth
2. Strengthen Corporate Banking
Floor in Surabaya and Medan to
broaden and deepen our
geographic coverage
2,483
1,077
Strategies for 2009
522
2009
3 Strengthen
3.
Strengthen our Syndication &
our Syndication &
Structured Finance team, as
well as our synergy with
Mandiri Sekuritas, to provide a
broader variety and more
broader variety and more
sophisticated product range,
and accelerate transactional
banking development in
Corporate Banking
Corporate Banking
4. Broaden relationships to offer
products and services to our
corporate clients’ suppliers,
employees and customers,
l
d
t
through strategic alliance
program
37
Mandiri Sekuritas’ financial performance has
p
y
g
y
been impacted by the global economy crisis
H1 ’08
H1 ’09
Y‐o‐Y
(%)
245
170
(31%)
92
69
(26%)
115
81
(30%)
• Treasury
5
3
(40%)
• Investment Mgt
32
19
(42%)
Operating Expenses
134
72
(46%)
Earnings After Tax
65
17
(73%)
Equity Transactions
26,940
18,887
(30%)
SUN Transactions
15,901
8,416
(47%)
Bonds Underwritten
Bonds Underwritten
2 633
2,633
875
(67%)
ROA
6.3%
1.6%
(75%)
ROE
15 8%
15.8%
5 2%
5.2%
(67%)
(Rp Bn)
Revenues
• Investment Banking
• Capital Market
Capital Market
38
Treasury & International Banking
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Rp bn
677
Q1
Q
Q2
Q
Q3
Q
Q4
Q
1,280
2. Seek opportunities to enhance
the yield of our recent portfolio
h
ld f
f l
137
897
94
946
3. Sustain our overseas business by
focusing on syndicated facilities
and trade financing to selected
customers in supporting
Indonesia‐related business
4. Enhance our regional
distribution (RTM) in high
distribution (RTM) in high
growth, export‐oriented regions
in collaboration with Micro &
Retail Banking
455
266
5 Reinforce
5.
Reinforce competitiveness
competitiveness
through new Mandiri
International Remittance offices
and our Shanghai office
2009
6 B
6.
Build international experience
ild i t
ti
l
i
for future regional expansion &
early access to license
39
377
803
803
307
803
118
348
322
356
121%
153
NII
Fees
Overhead Operating Provisions Profit After
Profit
PPAP
1. Intensify cross‐selling of forex
products and services to our
products and services to our
corporate and large commercial
clients
2007
210
2008
Commercial Banking:
Strong revenues from both Liabilities & Assets
Strategies for 2009
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Rp bn
Q1
Q
292
682
Q2
Q
Q3
Q
Q4
Q
2,427
225
2,235
45
2 189
2,189
2,189
2,114
2. To increase sustainability of loan
portfolio by expanding “KMK”
fixed product.
64%
617
1266
1,486
564
630
946
923
703
487
2007
2008
1. To widen asset margin especially
in Small Commercial Loan and
Medium Commercial Loan
Segment (Limit under Rp100
Billion)
3 Financing
3.
Financing the subcontractors of
the subcontractors of
large corporates, particularly in
infrastructure, mining, and
telecom
4 To pitch alliance strategic
4.
T it h lli
t t i
partner targets from the 10
biggest corporate customers
and 17 biggest commercial
customers that have
t
th t h
significantly business impact.
5. To develop bundling products by
utilizing push product and
existing product range.
2009*
*) incl CM of Small Rp296 bn & BSM Rp179 bn in H1
40
Commercial Banking : Stronger Platform & Improved
Distribution Capability
Expanding Scope of Distribution, 2009
Solid & Stable Source of
Low Cost Funds
R Tn
Rp
T **
Sumatera
Loans = Rp 5.6 Tn
Funds = Rp 5.3Tn
Java and Bali
Loans = Rp32.8 Tn
Funds = Rp23.5 Tn
Kalimantan
Loans = Rp2.3 Tn
Funds = Rp2.3 Tn
Eastern
Loans = Rp1.1 Tn
Funds = Rp1.9 Tn
Q2
2008
Q2
2009
Growth
Demand
Deposit
16 74
16.74
18 15
18.15
8 4%
8.4%
Rupiah
12.42
12.69
2.2%
FX
4.31
5.45
26.5%
Saving
Deposit*
2.60
1.40
(46.2%)
Total Low
Cost Fund
Cost Fund
19.34
19.55
1.1%
Total
Funding
28.11
33.00
17.4%
Product
CBC = 19 Unit
Floor = 18 Unit
TSC = 11 Unit
TSD = 8 Unit
Low Cost Fund Ratio = 59.24%
Funding from Java & Bali =71.30%
of total fundingg
* Business Savings Product
** excl. SBG
41
Strong growth from our Syariah Banking
subsidiaryy
Financial Performance (Rp bn)
Financing
Net Interest Margin & Cost of Funds
FY ’06
FY ‘07
H1 ‘08
FY ’08
H1 ’09
7,415
10,305
12,731
13,278
14,232
Deposits
8,219
11,106
14,270
14,899
16,353
Assets
9,555
12,888
16,286
17,066
18,684
EAT
65.48
114.64
96.28
196.42
125.74
ROA
1.10%
1.54%
1.94%
1.83%
2.00%
ROE
10 23%
10.23%
15 94%
15.94%
22 78%
22.78%
21 34%
21.34%
18 88%
18.88%
Net NPF
4.64%
3.43%
2.15%
2.37%
1.92%
13.6%
13.5%
YoA
13.5%
13.0%
12.7%
12.4%
12.3% 12.2% 12.4%
Ratios:
Syariah Financing (Rp tn)
Financing
99.1%
FDR
CoF
6 2%
6.2%
5.7%
92.8%
5.4% 5.3% 5.4% 5.4% 5.3% 5.3%
5.7%
91.1% 91.1%
90.2%
Q1 '09
5.6%
Q4 '08
NIM
5.6%
Q3 '08
14.23
6
6.3%
13.43
6
6.4%
11.15
13.25
6
6.3%
10.31
13.77
6
6.3%
9.30
12.73
6
6.1%
87 0%
86.9% 87.0%
5.6%
6.8
8%
89.1%
6.7%
89.2%
7.41
Q4 '06
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q2 '09
2005 Q4 '06 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Q2 '09
42
Micro & Retail Banking:
Rapidly growing our high margin business
Contribution Margin (after PPAP)
Performance to Date: H1 2009
Rp bn
Strategies for 2009
Rp bn
1,124
4,594
Q4
1. Leverage our strength in
Corporate and large
Commercial customers to
quickly build high margin
i kl b ild hi h
i
business
Q3
Q2
1,257
,
Q1
1,893
2,496
2. Continue to improve our
payment infrastructure
ti f t t
1,416
2,047
65
1,982
2,204
318
1,982
3.2%
572
856
1,045
740
740
574
321
2007
* Includes Deposit Insurance
876
2008
1,126
3. Expand our distribution with
a focus on high margin
b i
business
4. Improve our sales culture and
productivity of existing
network
t
k
5. Cross sell to grow our fee
based income business
2009 *
*Excluding Small Business
43
Consumer Finance:
Significant growth in spread and fee income
Contribution Margin (after PPAP)
Performance to Date, H1 2009
Rp bn
Rp bn
142
239
Q1
Q2
Q3
Q4
831
836
739
639
131
607
324
607
158
62%
412
79
133
161
100
355
200
170
90
252
NII
Fees
Overhead
Operating
Profit
Provisions
Profit After
PPAP
143
150
174
2006
2007
2008
2009
44
S
Supporting Materials
i M
i l
45
Key Quarterly Balance Sheet Items & Financial
Ratios
IDR billion / %
H1 ‘08
FY ‘08
H1 ‘09
Gross Loans
149,612
174,498
181,611
21.39%
88 386
88,386
88 259
88,259
88 243
88,243
(0 16%)
(0.16%)
Total Assets
304,680
358,439
358,897
17.79%
Customer Deposits
236,213
289,112
287,055
21.52%
T lE i
Total Equity
27 711
27,711
30 514
30,514
31 439
31,439
13.45%
%
RoA ‐ before tax (p.a.)
2.44%
2.52%
2.54%
RoE – after tax (p.a.)
17.89%
18.06%
18.70%
Co