2015Q1 Analysts Meeting .
PT Bank Mandiri (Persero) Tbk
1Q 2015
Results Presentation
April 24, 2015
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Table of Contents
Results Overview
Page #
Indonesia’s Economic Condition
3
1Q 2015 Highlights
4
Key Indicators + Financial Highlights
SBU Performance Highlights
5–6
7
Bank’s Performance
8 – 11
Loan Performance
12 – 14
ROE & NIM
15 – 16
Fee-Based & CIR
17 – 18
Wholesale Business
19 – 21
Retail Business
22 – 28
NPL Movement
29 – 32
Subsidiaries
33 – 35
Targets & Initiatives
36
Additional Information
Operating Performance Highlights
Supporting Materials
2
Inflation And Current Account Deficit Appear Manageable
Core inflation Remains Stable and
Headline Inflation Is Dropping
Core inflation (% YoY)
20
BI rate (%)
18
9
Capital and Financial Account
Current Account (CA)
BoP
Headline inflation (% YoY)
20
GDP Expansion Remains Below The
Historical Average
Steps Are Being Enacted That Should
Improve The Current Account Deficit
8.5
15
8
16
15
10
14
10
7.5
7
12
5
5
10
8
7.50
6
-
5.04
5.94
-
6.38
6
6.5
5.5
(5)
4
(5)
5.01
5
(10)
2
4.5
Source : CEIC, Bloomberg
1Q15
1Q14
1Q13
1Q12
1Q11
1Q10
1Q09
1Q08
1Q07
4
1Q06
(10)
(15)
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
Mar-15
Mar-14
Mar-13
Mar-12
Mar-11
Mar-10
Mar-09
Mar-08
Mar-07
Mar-06
0
3
Bank Mandiri Remains on Track to become Indonesia’s Most
Admired Financial Institution
# of Accounts
Deposit 16.14 Mn
Loan 1.55 Mn
including mortgage
accounts of 166,709
e-Channel Tx
506Mn YTD
27% Growth
Retail Loans (1)
Rp 158.2 Tn
33.1% of Loans
High yield loan
amounting Rp 102.9 Tn
(1)
(2)
(3)
Small Business, Micro and Consumers
Exclude Mandiri Transaction System
Incl. KSM Centre, MMU Cash outlet and MobilMU
# of new Accounts (YTD)
Deposit 1.13 Mn
Loan 172,520
# of Outlets
2,317 Branches
2,749 Micro Outlets (3)
15,444 ATMs
# of Cards Issued
Credit 3.73 Mn
Debit 12.40 Mn
Prepaid 5.41 Mn
Cash Management
14,105 Customers
14.5 Mn Tx YTD
2015 (2)
Subsidiary Income
Total Rp 607 Bn
Sum of income from
8 subsidiaries
(11.8 % of EAT)
Alliances
Bank Guarantee: Rp4.7tn
Foreign Exchange: Rp6.4tn
Fund Under Management
(FUM): Rp4.7tn
4
5
1Q
2015
201
529,973
201
2014
472,435
201
2013
388,830
201
2012
314,381
201
2011
246,201
201
2010
198,547
200
2009
5,138
1Q
2015
201
19,872
201
2014
18,204
201
2013
15,504
201
2012
12,246
201
2011
9,218
201
2010
7,155
200
2009
19.39%
1Q
2015
5.97%
2014
5.74%
2013
5.46%
2012
5.11%
2011
5.28%
2010
5.04%
2009
2.27%
1Q
2015
2.15%
2014
1.90%
2013
1.87%
2012
2.21%
2011
2.42%
2010
2.79%
2009
1Q
201
2015
372,074
1Q
2015
20.95%
201
2014
380,512
2014
22.23%
201
2013
359,957
2013
22.55%
201
2012
316,127
2012
22.00%
201
2011
256,395
2011
24.40%
201
2010
201,958
2010
22.10%
200
2009
186,492
2009
Non Performing Loan (%)
Net Interest Margin (%)
5.62%
Total CASA (Rp bn)
Total Loans (Rp bn)
Earning After Tax (Rp bn)
Return on Equity (%)
Key Indicators Remain Strong Despite 1Q Seasonality
532,824
Key Financial Highlights
Bank Mandiri’s 1Q 2015 Performance across several key indicators:
1Q’14
1Q’15
Rp470.4 tn
Rp532.8 tn
13.3%
2.07%
2.27%
9.7%
0.67%
0.89%
32.8%
63.0%
59.2%
(6.0%)
Rp334.7 tn
Rp372.1 tn
11.2%
NIM*
5.92%
5.62%
(5.2%)
Efficiency Ratio
43.0%
44.4%
3.2%
Rp4,925 bn
Rp5,138 bn
4.3%
Loans
Gross NPL Ratio
Net NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
%
* Starting 4Q2014, we backout the LPS premium from interest expense. using the same computation with the previous method, our 1Q’15/1Q’14 NIM was 5.45% /5.75%
6
Balanced Earnings from All Business Units
Net Interest Income Analysis 1Q 2015
(Rp Bn)
Fee Based Income 1Q 2015
(Rp Bn)
2,876
2,611
Treasury and
Markets
844
1,175
1,652
1,596
Corporate Banking
236
Commercial Banking
203
1,624
101
1,006
478
133
1,701
1,495
1,174
Treasury and
Markets
Corporate
Banking
Asset Spread
Consumer Banking
987
873
Commercial
Banking
Liability Spread
Consumer
Banking
Micro and
Business
Banking
Micro and Business
Banking
1,142
481
Net Interest Income
Notes : Due to reorganization of Bank Mandiri operating segments in January 2015 historical data is not available at this time
7
Maintaining Momentum for Growth
Loans by SBU + Subsidiaries
(Rp Tn)
Deposits by Product – Consolidated
(Rp Tn)
Y-o-Y
Total
Total
532.8 tn
Subsidiaries
Micro
Cons
Int'l
Recovery
Small
Comm
Corp
470.4tn
Rp Savings
33.730.5
18.3%
52.0%
531.6tn 27.5
20.1
20.5
20.0
28.2
29.0
27.9%
226
226.2
222
222.3
2
201.6
176.9
190.0
153.7
155.2
150.7
20.4
17.8
20.3
15.6
15.3
12.510.312.4
152.8
83.4
79.6
67.2
74.2
74.6
61.2
63.0
75.0
67.3
59.0
77.9
63.9
73.4
78.9
138.9
137.5
148.1
120.8
45.3
47.9
49.4
143.5
46.2
140.8
147.8
50.3
49.1
58.1
52.0
51.1
11.711.1
43.545.0
11.8
38.549.2
36.1
33.3
28.228.028.5
25.3
24.7
20.7
23.3
22.123.222.3
24.0
19.0
16.8
22.3
15.3
22.225.4
15.8
23.122.9
14.0
22.0
12.013.413.6
12.2
11.612.312.7
11.6
9.9 10.8
102.9
108.8
121.9
119.8
126.5
135.4
151.8
150.4
159.9
166.2
186.9
179.9
189.8
198.8
214.7
201.9
203.0
208.0
227.7
207.3
1Q'10
2Q'10
3Q'10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q'10
2Q'10
1Q'10
97.1
170.7
173.3
171.9
161.3
160.8
163.7
155.2
146.9
124.7
126.3
123.2
119.2
113.0
106.2
103.2
96.2
85.1
85.4
84.2
80.7
74.5
6.2%
FX Savings
39.9
1.5 1.6 1.8 1.6
1.4 1.3
1.7
1.5
Rp Demand
127.0
(65.3%)*
FX Demand
140.0
24.7%
Rp Time
16.1
24.0
47.8
1.3 1.4 1.6
0.2 0.4
14.4%
628.7tn
FX Time
127.8
1.5
19.5%
124.4
4.0 3.9
62.4
64.7
42.5
19.0
60.3
4.9
20.7
4.8 16.8 38.4
56.6
38.4
15.1
57.4
55.2
4.8
35.0
13.1
33.1
52.4
4.6
6.1 11.8 30.9
47.749.3
9.5 30.2
6.1 27.6
8.5
43.344.5
7.8 6.7
25.8
40.7
7.7
7.3
39.0
8.6
9.1 6.5 22.7 23.3 34.336.3
6.0
20.5
9.7 19.3
1.3 1.3 0.8
5.6
30.732.4
2.0 2.3 1.3
17.7 26.728.6
1.7
(2.8%)
32.0%
640
620
600
580
560
540
520
500
480
460
440
420
400
380
360
340
320
300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0
176.2
3.7 3.8
3.8 36.037.2
32.7
3.9
4.2 3.9 31.0
57.2 55.3
4.2 27.0 28.2
52.0
3.9 24.9
46.3
49.0
23.9
65.7
43.7 46.5
24.7
13.3%
(1.8%)
145.1
138.9
127.7
123.7
116.3
116.9
111.0
104.2
102.0
102.7
93.3
89.8
82.5
80.7
74.7
70.1
64.7
63.8
57.5
53.1
49.1
540
520
500
480
460
440
420
400
380
360
340
320
300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0
Y-o-Y
33.4%
24.1%
5.5%
2.7%
*Loans from Treasury & International have been reallocated to Corporate following
the reorganization in early 2010
8
3 Key Areas of Focus for 2020
Wholesale Strategy
Deepen Client
Relationship
Retail Strategy
Group Wide Strategy
Integrate The Group
Micro
Integrated Wholesale Transaction Bank
Holistic Product Suite
Culture of Cross-Selling across
Wholesale, Retail and subsidiaries
Cross Border Coverage
Easy Access & Simple Product
SME
Sector Led Solutions
Through Expertise-led Client Solutions
Accelerate Growth
Segment
Engaging in Integrated Retail Initiatives
with Subsidiaries and Business Units to
Drive Cross Selling
One Stop Sales & Service
Individual
Grow with Customers
Supporting Clients’ Regional Needs
Current Achievments (Q1 2015)
Current Achievments ( Q1 2015)
Total Wholesales Fees Rp 1.1 Tn 1)
Total Wholesale Low Cost Deposits
Rp 92.5 Tn.
Growth of Trx Cash Management 81.86%2).
Total Wholesale Trx. Fees Rp 922.4 Bn
1) Fee-Based Provision, Commission & Fee
2) Excluding Mandiri Transaction System
Current Achievments (Q1 2015)
Volume of Business Alliances :
Bank Guarantee : Rp 4.7 Tn.
Foreign Exchange : Rp 6.4 Tn.
FUM : Rp 4.7 Tn
Wholesale Product Holding : 8.75
Total Retail Fees of Rp 2.2 Tn 1)
Total Retail Low Cost Funds Rp 251 Tn
YoY increase in E-Channel transaction : 27.0%
Mandiri Business Saving reaches Rp 87.5 Tn
9
Strong and Liquid Balance Sheet
(Rp Bn, Consolidated)
Assets
Q1 2015
Q1 2014
Liabilities
Q1 2015
Q1 2014
Cash
16,756
14,501 Current Account
141,491
110,738
Current Acc w/ BI & Other Banks
60,165
60,149 Savings
230,584
223,970
Placement w/ BI & Other banks
62,821
33,183 Time Deposits
256,638
196,903
Advances (Other)
34,273
21,340
Marketable Securities
44,664
30,945 Total Deposits
628,712
531,611
1,808
1,773
Government Bonds
100,115
Loans (Gross)
532,824
470,423 Securities Issued
Provisions of Loans
(18,240)
(16,630) Deposits from other banks
29,148
24,535
Net Loans
514,584
453,793 Borrowings
22,011
15,125
21,202
11,786
60,676
55,613
104,791
89,041
868,348
729,483
Reverse Repo
Other Provisions
Deferred Tax Assets
Other Assets
Total
5,236
(2,341)
3,710
28,366
868,348
90,649
778 Other Int. Bearing Liabilities
(2,015) Non Int. Bearing Liabilities
3,755 Equity incl. Minority Interest
22,405
729,483 Total
10
Strong Revenue Growth
Summary P&L
Interest Income
Interest Expense
Net Interest Income
Net Premium Income
Net Interest Income & Premium Income
Other Non Interest Income
* Other Fees and Commissions
* Foreign Exchange Gains - Net
* Gain fr. sale & Incr. in Val & Sale of Bonds
* Others
Total Non Interest Income
Total Operating Income
Provisions, Net
Personnel Expenses
G&A Expenses
Loss from decr. in value of Sec & Gov Bonds
Other Expenses
Total Expense
Profit from Operations
Non Operating Income
Net Income Before Tax
Net Income After Tax
Q1
2015
17,117
6,853
10,264
681
10,945
Q4
2014
17,363
6,536
10,827
697
11,524
Q1
2014
14,313
5,064
9,249
584
9,833
Y-o-Y
∆(℅)
19.6%
35.3%
11.0%
16.5%
11.3%
Q-o-Q
∆(℅)
(1.4%)
4.9%
(5.2%)
(2.3%)
(5.0%)
2,349
388
230
911
3,877
14,822
(1,549)
(2,920)
(2,574)
(987)
(6,481)
6,791
2
6,794
5,138
2,534
399
111
1,132
4,176
15,700
(1,779)
(2,807)
(3,488)
(620)
(6,914)
7,007
10
7,016
5,418
2,130
404
158
835
3,528
13,361
(1,217)
(2,626)
(2,309)
(745)
(5,681)
6,463
(4)
6,459
4,925
10.3%
(4.1%)
45.9%
9.0%
9.9%
10.9%
27.3%
11.2%
11.5%
32.5%
14.1%
5.1%
N/A
5.2%
4.3%
(7.3%)
(2.9%)
107.7%
(19.5%)
(7.2%)
(5.6%)
(12.9%)
4.0%
(26.2%)
59.3%
(6.3%)
(3.1%)
N/A
(3.2%)
(5.2%)
11
LDR Increased to 84.4%, Bank-Only Loan Growth of 15.3%
Quarterly Loan Data
Quarterly Loan Segment Details
(Consolidated)
(Bank Only)
1Q '09
2Q '09
3Q '09
4Q '09
1Q '10
2Q '10
3Q '10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
Corporate
Commercial
Small
Micro
1Q'15
3Q'14
1Q'14
3Q'13
1Q'13
3Q'12
1Q'12
3Q'11
1Q'11
3Q'10
28.3% 30.0%26.6%
24.7%
23.7% 22.3% 21.5%
23.2%
21.4%
26.9% 27.7%
24.0%
22.8%
23.4%
19.7%
13.3%
15.7% 15.3% 20.0%
13.3% 12.2%
9.9%
9.5%
13.8% 7.9%
7.5% 4.1%7.1% 6.5%
12.4%
6.4%
4.8%
3.7%3.7% 1.7%
4.6%
3.3%
1.4%
6.2% 2.3% 5.7%
5.5%
4.2% 0.5%
0.7%5.1%
4.2%
-0.4%
1Q'10
30.5%
62.4
60.3
37.2
56.6
36.0
57.4 32.7
55.2
52.4 27.0 31.0 57.3
55.3
28.2
52.0
24.9
47.749.323.9 46.5 49.0
44.5
44.1 46.3
43.3
20.7
19.0 42.5
40.7 16.8 38.5
39.0 15.1
36.3 13.1 35.138.5
34.3 11.8 33.2
9.5 30.9
30.732.48.527.730.3
28.6
26.76.5 7.3 7.725.9
23.624.86.020.722.824.5
20.621.75.4 5.619.7
19.7
4.8 5.117.418.0
4.615.8
14.4 16.6
3Q'09
YoY Growth (%)
65.7
64.7
78.8
42.6
79.7
43.6
82.0
45.3
82.7
50.6
82.9
50.4
88.7
54.2
92.8
58.6
93.6
64.7
92.5
64.5
103.1
70.7
110.4
75.3
111.7
81.1
118.6
82.9
125.2
90.1
129.3
93.6
131.7
103.0
129.9
102.3
151.9
104.4
153.5
118.2
169.7
117.1
166.7
116.5
166.3
123.9
176.8
127.9
178.2
139.1
175.1
145.2
1Q '09
2Q '09
3Q '09
4Q '09
1Q '10
2Q '10
3Q '10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
175.2
175
181.6
181
188.3
188
198.5
198
201.9
201
218.0
218
231.9
231
246.2
246
251.8
251
276.7
276
297.5
297
314.4
314
327.2
327
350.4
350
365.2
365
388.8
388
391.6
391
428.7
428
450.8
450
472.4
472
470.4
470
485.8
485
506.5
506
530.0
530
532.8
532
84.5% 87.0%
84.4%
87.3%
78.7% 80.7% 84.4%
88.0%
71.7% 70.2%
83.4% 83.5% 85.0%
82.9%
63.2%62.8% 64.1%
75.9% 74.1%
66.3%67.6%
62.2% 61.4%
QoQ Growth (%)
Total
LDR (%)
1Q'09
Loans (Rp tn)
Y-o-Y Break
down
Consumer
As of Mar 2015; Non-consolidated numbers
12
Prudent Management of FX Balance Sheet
FX Loans & LDR
Rp Trillion (Bank Only)
80
120%
Breakdown of FX lending (Bank Only)
1Q ’15 (Total USD 5.623 Bn)
% (YoY)
111.0%
110%
70
USD
Billion
Mfg
1.43
Oil & Gas
0.91
-26%
Mining
0.73
-4%
Oth
0.65
110%
Bus Serv
0.51
106%
Trans
0.41
39%
Trading
0.40
-38%
Agri
0.38
13%
Utilities
0.11
-44%
Constr
0.09
-35%
Soc Serv
0.01
-20%
9%
104.5%
100%
60
95.9%
91.5%
86.6%
90%
89.0%
50
82.9%
80.7%
80.5%
78.3%
76.3%
40
76.2%
76.4%
76.0%
75.8%
71.7%
75.4%
68.2%
68.5%
30
80%
74.2%
72.0%
69.0%
73.2%
68.0%
71.3%
65.1%
66.8%
64.3%
60%
34.56
35.24
37.83
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
45.47
45.73
49.62
48.17
53.29
59.79
67.75
62.22
62.95
72.24
75.38
73.52
61.9%
70%
20
Loan Fx
Mar 15
Sep 14
Mar 14
Sep 13
Mar 13
Sep 12
Mar 12
Sep 11
Mar 11
Sep 10
Mar 10
Sep 09
Mar 09
Sep 08
Mar 08
50%
LDR FX
13
Rp 68.98 tn in Loans Disbursed in 1Q 2015
Loan Disbursement by Segment in 1Q (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only 1Q (2015)
3.84
30.57
68.98
7.57
32.55
0.95
5.66
6.11
4.00
17.24
68.98
478.52
475.27
34.23
FY'14
Disburs. Install. Payment Pay-off
FX
Impact
WriteOffs
1Q '15
Corporate* Commercial
Small
Micro
Consumer
Total
14
19.4% ROE, Supported by a Strong Capital Position
Bank Only - Capital & RWA Movement
Profit After Tax & ROE
IDR bn
31.3%
RoE - AT
CAR*
26.2%
491.3
23.2%
400.2
15.4%
13.4%
352.5
2.5
15.7%
15.5%
21.0%
21.5%
17.9%
16.6%
22.2%
22.0%
5,418 19.4%
18.1%
15.8%
Q4 PAT
Q3 PAT
Q2 PAT
Q1 PAT
20.8%
22.6%
22.1%
22.8%
5,401
10.0%
4,385
2.5%
4,869
14.9%
15.3%
4,509
3,073
242.4
3,972
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
645
799
1,017
967
1,300
308
1,390
1,408
2,536 2,352
2,543 3,744
1,693
1,166
1,345
1,528
1,329
690
602
1,744
1,168 1,549
2,031
1,040
610
97
519
-623
1,099*
1,526
4,303
2,681 3,403
1,234 1,113 1,221
2,003
372
305 1,027 1,390 1,400
510
4,925 5,138
2015
2014
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
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 2014 was 17.39%
2002
Total Capital (Rp tn)
2001
2004
2003
96.2
85.7
73.9
62.0
53.3
35.7
2002
3,991
775
30.5
2001
4,660
819
27.2
28.3
2000
2,850
195.8
172.9
134.0
112.2 28.4
115.9 27.4
108.927.5
17.0
91.925.5
72.5
58.1 15.4
42.6 13.3
RWA (Rp tn)
2,833
2013
23.4%
24.6%
514.9
25.3%
538.5
26.4%
24.2%
23.6%
27.7%
*1.1Tn from GIAA Recovery
15
Q1 NIM of 5.4% as Yield on Assets Decreased 48bps
Quarterly Net Interest Margins
Quarterly Yields & Costs by Currency
20%
!! "!
!" # $
!
15%
IDR
12.9%
12.8%
13.1%
10%
11.0%
10.5%
9.2%
9.9%
9.4%
8.9%
7.3%
9.1%
9.0%
9.6%
9.6%
8.7%
8.4% 8.3%
9.2% 9.1%
9.0%
8.7%
8.2% 8.1%8.2%
8.1% 7.8%
0%
6.4%
5.5%
4.8%
5%
12.7% 12.1% 12.5%
12.4%
12.2%
11.8% 11.2% 11.1% 11.8%
12.0% 12.1%
11.1% 12.2%
11.8% 11.9%
11.2%
11.4% 11.3% 10.8% 11.8%
8.5%
10.6%
7.2%
6.8%
6.2%
5.9%
7.9%
6.0%
6.5%
5.7%
5.9%
6.4%
5.3%
4.9%
4.7%
4.7%
4.5%
4.3%
3.9% 3.3% 4.0% 3.9%
4.6%
5.8%
5.3%
4.5%
4.4% 4.2%
3.9% 4.4%
4.0%
4.2% 3.1%
3.7%
3.1%
3.0%
3.3%
12.1%
4.5%
4.3%
4.2%
Avg Loan Yield
Avg Bond Yield
Avg COF
4.8%
3.9% 3.9%
3.3%
2.8%
3.8%
3.2%
3.5%
2.7% 2.8% 2.8%
3.1%
2.7%2.6%
4.0% 3.8% 3.7%
FX
5%
5.4%
5.9%
5.8%
5.9%
5.9%
6.1%
5.7%
5.3%
5.5%
5.7%
5.8%
5.5%
5.2%
5.4%
5.2%
5.4%
5.1%
5.8%
6.0%
5.2%
5.1%
5.3%
4.9%
5.3%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
3.6%
4.3%
0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
1Q'15
4Q'14*
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
4Q '07
4Q '06
4Q '05
4Q '04
* Starting on 4Q2014, we backout the LPS premium from the interest expense
6.6%
7.2%
6.6% 6.8% 6.6%
6.4%
5.8%
6.5%
5.4%
5.2%
5.1%
5.1%5.3%
4.9%
5.8%
4.5%
4.5%
5.0%
5.2% 5.0% 4.9% 4.7% 4.8%
4.8%
4.5% 4.4% 4.5% 4.2%
3.4%
3.0%
2.6%
2.3%
2.7%
2.7%
1.5%
2.1%
1.1%
0.6% 0.7% 0.7% 0.6% 0.8% 0.7%
0.8%
0.3%
0.8%
0.7%0.6% 0.7% 0.7% 0.9%
0.7%
0.5% 0.6%
16
Greater Detail On Fee-Based Income
Breakdown of 1Q 2015 Non-Loan Related Fees & Commissions (Rp bn)
Non-Loan Related Fees & Commissions
1Q-2015
4Q-2014
1Q-2014
Y-o-Y
Δ%
Q-o-Q
Δ%
Administration Fees
644
707
644
0.0%
(8.9%)
Opening L/C, BG & Cap Market (custodian & trustee)
253
258
230
10.0%
(1.9%)
Subsidiaries
376
339
379
(0.8%)
10.9%
Transfer, Retail Transaction
443
543
334
32.6%
(18.4%)
Credit Cards
379
410
291
30.2%
(7.6%)
93
94
86
8.1%
(1.1%)
7
52
24 (70.8%)
(86.5%)
17
18
17
0.0%
(5.6%)
137
113
124
21.2%
3.78%
2,349
2,534
2,130
10.3%
(7.3%)
Foreign Exchange Gains
388
399
404
(4.0%)
(2.8%)
Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds
230
111
158
45.6%
107.2%
Cash Recoveries
535
771
526
1.7%
(30.6%)
3,877
4,176
3,528
9.9%
18.4%
Total Operating Income
14,822
15,700
13,361
10.9%
(5.6%)
% of Non Loan Related fees to total opr. income
26.2%
26.6%
26.4%
Mutual Fund, ORI & Bancassurance
Syndications
Payroll Package
Others
Total
Total Fee Based Income (As Reported)
17
1Q Cost to Income Ratio of 44.42 %
Quarterly Consolidated Operating Expenses & CIR
Breakdown of 1Q 2015 Operating Expenses
CIR (%)
1Q 2015
4Q 2014
1Q 2014
Growth
QoQ
YoY
Personnel Expenses
51.3%
48.4%
46.6%44.4%
44.4%
43.2%
45.1%
43.2% 43.1%
42.8% 43.2%
41.6%
38.4%
42.5% 41.8%
44.0%42.7%
39.3%
41.1%
39.0%
39.0% 38.1% 37.3%
35.1%
32.4%
Base Salary
2,920
2,807
2,752
2,662
2,626
2,374
2,679
2,336
2,042
2,372
1,869
1,939
1,865
1,903
1,671
1,631
1,547
1,612
1,485
1,375
1,306
1,328
1,019
1,390
1,116
2,574
3,488
2,958
2,693
2,309
3,167
2,375
2,322
2,034
2,565
2,071
2,004
1,614
2,107
1,883
1,510
1,524
1,682
1,459
1,265
1,051
1,384
1,110
1,004
827
759
675
688
12.5%
10.4%
1,403
1,261
1,234
11.3%
13.7%
Post Empl. Benefits
92
82
100
11.4%
(8.2%)
Training
34
187
78
(81.8%)
(56.4%)
632
602
527
4.9%
20.0%
2,920
2,807
2,626
4.0%
11.2%
IT & telecoms
392
441
330
(11.1%)
18.7%
Occupancy Related
567
787
444
(28.0%)
27.7%
Promo & Sponsor
165
357
206
(53.8%)
(20.1%)
Transport & Travel
122
209
125
(41.4%)
(2.2%)
Goods, Prof. Svcs. & Oth.
280
517
311
(45.8%)
(10.1%)
Employee Related
448
491
365
(8.6%)
23.0%
Subsidiaries
599
686
527
(12.7%)
13.8%
2,574
3,488
2,309
(26.2%)
11.5%
987
620
745
59.3%
32.5%
6,481
6,914
5,681
(6.3%)
14.1%
Other Allowances
Subsidiaries
Total Personnel Expenses
G&A Expenses
Total G&A Expenses
Other Expenses
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
G&A Expenses
Personnel Expenses
Total Operating Expenses
*Reclassification of LPS fee from interest expense to other expense of Rp 302bn
in 1Q 2015 and Rp 269bn in 1Q 2014
18
Diversifying our Strength in Wholesale Lending…
Breakdown of Net Expansion in Corporate Lending
Q1 ’15 – Q1 ’14 (Total Rp8.41 tn)
Breakdown of Net Expansion in Commercial Lending
Q1 ’15 – Q1 ’14 (Total Rp28.68 tn)
%
%
Mfg-F&B
5,734
68.21%
Trad-Distr
4,573
15.94%
Bus Serv
5,550
66.02%
Bus Serv
3,716
12.96%
Constr
1,541
18.33%
Plantations
3,236
11.28%
Mfg-Metal
1,261
Mfg-Oth
15.01%
2,390
8.33%
Mfg-RawM
2,228
7.77%
Trad-Oth
1,768
6.16%
Mfg-P&P
1,763
6.15%
Oth
1,731
6.03%
Mfg-Text
1,497
5.22%
Mass Trans
1,489
5.19%
Constr
1,451
5.06%
Mining-Metal Ore
879
Agri Equip
752
Mfg-NonM
Mfg-RawM
717
10.46%
8.95%
8.53%
696
8.28%
606
7.21%
Mining-Coal
Livestock
515
6.13%
Soc Serv
463
5.51%
Mfg-Chem
-122.63%
Mining-Oil & Gas
Oth
-10,309
Rp Billion
5.05%
1,450
1,391
Rp Billion
4.85%
19
20
4,484
4Q14
3,989
3Q14
3,598
2Q14
2,657
1Q14
2,201
4Q13
1,178
4Q12
677
4Q11
248
4Q10
92,594
1Q15
66,920
1Q14
73,192
2014
74,334
2013
89,959
2012
74,116
2011
53,604
2010
61,691
2009
62,257
2008
58,055
2007
Exclude Mandiri Transaction System
1Q15
14,105
13,873
13,629
13,437
13,162
12,932
12,652
12,366
12,112
11,899
10,943
7,784
6,153
4,066
2,414
745
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Total CASA (IDR Billion)
38.4% YoY
Growth
*)
81.86% YoY
Growth
Average # of Cash Management Tx
(000), total 14.5Mn transaction in
1Q2015*)
Wholesale CASA Deposits
Cash Management Users
Wholesale Transactions Driving CASA
4,832
1Q15
4Q14
3Q14
2Q14
1Q14
4Q13
3Q13
2Q13
1Q13
2012
2011
2010
2009
2008
2007
2006
Growing Volume in Wholesale Transaction Business
Mandiri Cash Management*
Value (IDR Trillion)
Forex
# of Trx (000)
Value (USD Billion)
44,184
3,200.0
# of Trx
45,000
322,795 399,500
70.0
2,700.0
60.0
2,200.0
25,000
13,676
1,200.0
400,000
35,000
24,543
1,700.0
450,000
379,730
50.0
14,495
7,668
281,153
310,512
350,000
300,000
40.0
250,000
15,000
7,971
2,503
127,407
30.0
115,460
5,000
200,000
150,000
3,120
100,000
894
-5,000
14
16
56
61
63
-15,000
42
10.0
34
635
818
549
200.0
2,231
1,519
20.0
700.0
(300.0)
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
Q1 14* Q1 15*
-25,000
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
Trade Transaction : Export, Import, Domestic
Value (USD Billion)
160.0
140.0
Mar 14 Mar 15
Wholesale Remittance
# of Trx
509,207
517,251
495,813
520,948
510,916
50,000
-
-
Value (USD Million)
739,046
651,241
599,909
560,000
160.0
460,000
140.0
# of Trx
800,000
700,000
120.0
120.0
600,000
360,000
100.0
100.0
435,866 448,219
500,000
260,000
80.0
80.0
117,125 127,556
60.0
160,000
168,877
40.0
-40,000
-
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
*)
Exclude Mandiri Transaction System
Mar 14 Mar 15
300,000
200,000
32
146
135
121
94
20.0
70
30
33
137
133
125
110
20.0
85
40.0
201,050
60,000
34
60.0
400,000
-
100,000
-
Dec 10 Dec 11 Dec 12 Dec 13 Dec-14
Mar 14 Mar 15
21
Retail Deposits Increased by 12.7% Y-o-Y
Retail Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
FX Savings Deposits
Rp Demand Deposits
FX Demand Deposits
Rp Time Deposits
FX Time Deposits
CASA as % of total deposits
72.9%
15%
Rp DD
69.9%
Rp Savings
68.4%
66.1%
63.5%
64.7% 63.8%
Rp TD
63.8% 66.1%
71.6% 72.5% 71.9% 68.8%
61.4% 62.5%
420
69.6%
66.2%
63.4%
63.3% 64.9% 66.5%
9.5
9.5%
10%
400 62.3% 60.4%
9.3%
380
9.0
8.3% 7.9%
8.7%
7.2
360
7.0%
7.0
7.2%
7.8%
6.8%
6.9%
7.0
6.6%
6.5%
120.0
340
7.3%
6.3
5.7%
320
6.5% 6.3% 6.5%
6.4
6.3%
108.3
4.9% 4.9%
119.2
5.5%
5%
300
84.5 100.1
4.2%
5.0% 5.1% 5.0%
88.4
3.3%
3.4%
280
4.680.2
5.0
13.0
3.2%
3.1% 2.5%
2.8%
4.7
260
2.3%2.4% 2.0% 2.2% 2.0%
2.6%
40.2
2.0% 2.1%
3.3%
5.1
11.4
1.5% 1.5%
2.0%
3.0%
1.9%
12.8
13.1
12.1
240
5.3 5.0 5.0
2.5%
70.7
71.4
2.5% 2.8%
11.9
2.2% 2.4%1.8%
72.1 10.7
2.1%
33.0 33.6 34.4 33.5
1.5% 1.6%1.6% 1.5%1.6% 1.5%1.4%1.3%
5.2
220
71.5
28.6 29.7
5.8 5.3 5.2
24.0
70.3
0%
4.3
20.7
73.171.6
200
4.2
21.8
22.2
5.8
22.0
4.3
16.718.4
18.6
6.8 6.0 5.7
70.8
21.0
17.0
180
4.1
7.5
3.516.113.7 15.6
70.569.068.6
14.7
7.4
3.2 3.515.4
7.7 7.4
FX DD
FX TD
160
68.7
15.714.6 13.0
68.571.870.6
12.8
3.3
3.9%
140
68.7
2.712.211.312.7
3.7%
4%
2.7 2.711.9
5.0 5.1 5.463.4 65.1
11.5
11.1
10.5
62.9
2.4
120
1.7
2.5 9.111.011.711.9
3.0%
44.442.050.6
1.8 9.4 8.2
2.3 8.811.0
100
8.0 8.1 9.310.2
2.6% 2.9%
1.41.4
6.1
5.1 5.3 6.8
2.8%
5.6 6.9 7.4
6.1 6.8
4.4 6.2
80 5.1
5.1
2.4%
1.9%
1.8%
2%
60
1.8%
1.6%
1.2% 1.1% 1.3%
40
0.8%
0.9%
0.6%
0.7%
0.7%
0.4%
0.5% 0.8% 1.2%
20
0.3%
0.3% 0.5%
0.9%
0.3%
0.3% 0.3%
0.1%0.3%0.3%0.2%
0.1% 0.1%
0.3%
0
0.3% 0.3%
0.2%
0%
70.1%
182.5
202.6
184.7
180.8
179.0
190.9
176.3
166.8
157.5
165.0
146.1
140.6
132.7
134.0
120.4
112.7
107.3
109.6
98.5
93.4
88.2
95.5
86.3
81.3
75.9
80.4
74.4
78.8
74.6
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
22
Building our High Yield Business in Retail Lending
Micro Credit
Retail to Total Loans
(Rp Bn)
60,676
63,323
66,851
73,324
81,046
84,675
91,504
96,268
105,192
108,434
118,788
123,833
130,158
131,857
140,189
146,744
157,974
158,173
170,000
33.1%
32.5%
160,000
31.8%
31.8% 31.3%
33.2%
150,000
32.6%
30.2%
140,000
31.7% 31.2%
29.6%
30.9%
130,000
28.6% 28.3%
29.8%
120,000
29.6%
110,000
100,000 27.7% 27.6%
90,000
80,000
70,000
60,000
50,000
40,000
30,000
9,022
34%
32%
28,205
YoY
32.0%
1Q2014
Growth
30%
1Q 2015
4Q 2014
3Q 2014
2Q 2014
1Q 2014
4Q 2013
3Q 2013
2Q 2013
1Q 2013
4Q 2012
3Q 2012
2Q 2012
1Q 2012
4Q 2011
3Q 2011
2Q 2011
1Q 2011
4Q 2010
Business Banking
1Q2015
28%
26%
Business Banking
(Rp Bn)
24%
9,015
22%
46,281
YoY
19.5%
55,296
1Q2014
Growth
1Q2015
20%
Consumer Finance
(Rp Bn)
Retail to Total Loans
Micro Credit
37,227
8,279
Consumer
Finance
57,371
YoY
14.4%
65,650
1Q2014
Growth
1Q2015
23
24
1,046
1,009
972
4Q '14
3Q '14
2Q '14
1Q '14
815
2013
694
2012
) !*
( "
&'
2010
430
2009
271
562
2011
2008
703
1,128
897
1Q '15
706
1,127
898
4Q '14
754
3Q '14
713
2Q '14
739
1,110
1,072
739
%
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
1Q '10
1Q '15
945
910
889
!' +
"
Customers (000)
Network
Strong Microfinance Growth
# Of New Customers
134,501
162,738
158,909
167,145
140,886
162,181
136,196
160,620
138,747
147,825
131,715
140,064
126,509
146,359
121,007
110,000
74,037
94,855
76,325
79,500
73,566
738
1,028
697
1Q '14
751
1,027
687
2013
502
2012
300
2011
200
2010
928
760
878
710
800
480
800
152
10
600
2009
2008
…as well as Consumer Lending, which Rose 14.43%
Y-o-Y as Auto Lending Remains Strong
Quarterly Consumer Lending Balances by Type
Rp65.7 tn
750 683
Payroll Loans
Home Equity Loans
Mortgages
765
809 840
Growth (%)
Y-o-Y
Other
8,343
7,568
6,855
5,557
57
5,620
20
5,303
03
8,288
11,083
10,218
9,013
11,253
11,880
12,201
3,240
3,310
3,326
10,642 3,198
10,030 3,172
9,781 3,181
9,374 3,240
8,386 3,365
8,206 3,471
8,958 3,312
7,486 5,025
7,209
09 5,035
6,6 4,590 7,753 3,571
6,609
26,207
26,495
26,347
26,505
26,690
26,995
27,357
26,135
24,092
22,818
20,919
18,764
20,113
5,829 4,245 7,143 3,777
16,466
17,779
4,2003,910 6,861 3,949
15,523
14,268
3,492
3,761 6,708 3,979
3,454
3,575 6,398 3,964
13,500
698 791
447
5,1154,296 6,995 3,887
873928
6,
6,593
4,492 7,412 3,679
1,016 1,037
964
7,905 5,19
,195
966
1,010
12,260
904
927
805
Loan Type
14,890
Credit Cards
13,983
Auto
13,271
Other
2,826
3,589 6,374 3,957
70,000
67,500
65,000
62,500
60,000
57,500
55,000
52,500
50,000
47,500
45,000
42,500
40,000
37,500
35,000
32,500
30,000
27,500
25,000
22,500
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0
Consumer Lending Growth by Type
Q-o-Q
(17.75%)
(5.75%)
Auto Loans*
34.35%
6.49%
Credit Cards
50.16%
0.67%
Payroll Loans
21.56%
2.49%
4.85%
0.11%
Mortgages
(1.81%)
(1.09%)
Total Consumer
14.43%
1.46%
Home Equity Loans
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
*Auto & Motorcycle Loans channeled or executed through
finance companies = Rp 11.05 Tn in our Commercial Portfolio
25
Enhanced Transaction Capabilities
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
280
ATM
Branch
250.8
246.1
Mobile Banking
249.0
236.3
Internet Banking
243.5
232.9
226.6
234.7
222.3
255
230
218.1
205
204.0
180
189.4
186.2
168.1
155
142.0
130 122.9
55
30
5
220
200
14
213.1
208.1
210.0
197.0
206.4
191.2
192.6
179.3 184.1
177.3
159.9 170.0
153.8
160
130.8
141.9
126.9
116.6
112.5
100.1
88.7
85.3 85.3
87.8
76.7
84.7
70.0
81.0
66.8
68.5
66.7
57.4
53.2
49.7
45.3
42.338.641.740.8
43.8
44.7
51.0
46.5
43.040.7 34.5 39.1 45.4
33.0
31.8 26.2
16.5 26.6
30.8
27.3
8.3
25.4
15.0
15.421.3
11.6
7.9
77.8
120
100
80
97.1
10
8
6
4
60
40
20
0
8.72
8.35
8.96
8.06
7.67
8.17
77.1
46.7
46.1
36.0
32.2 33.3 40.0
29.4
35.7
26.8
23.5
33.3 28.3
21.5
28.7
16.3
25.6
8.7 11.7
7.1
9.2 14.925.3
4.8
8.8
5.5
5.0
2.9
2.12.6
10.5
8.3
1.4
5.5
12.12
11.82
11.59
11.10
11.65
11.39
10.57 10.89
9.99 10.16
9.24 9.65
9.95
7.20
107.5
95.5
Debit Cards
Mobile Banking
Internet Banking
12
147.7
140
6.69
6.62
6.33
6.09
5.80 6.216.55
5.63
5.97
5.29
5.74
5.47
4.614.61
5.08
4.21
3.17
2.16
2
1.56 1.79
1.36 1.46
1.161.26
1.721.85
1.51
1.311.39
1.111.210.921.011.03 1.21
0
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4'11
Q3 '11
Q2'11
Q1' 11
Q4'10
Q3'10
Q2'10
Q1 '10
Q4 '09
Q3 '09
Q2 '09*
Q1 '09
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4'11
Q3 '11
Q2'11
Q1' 11
Q4 '10
Q3 '10
Q2 '10
Q1 '10
Q4 '09
Q3 '09
Q2 '09
Q1 '09
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4 '11
Q3 '11
Q2'11
Q1' 11
Q4 '10
Q3 '10
Q2 '10
Q1 '10
Q4 '09
Q3 '09
Q2 '09
Q1 '09
-20
ATM
Mobile Banking
Internet Banking
180
148.1
105
80
240
Quarterly Users (Mn)
* Inactive cards have been purged
26
Retail Payment system gaining Traction
Fee Income from e-channel Tx (Bn)
Q4
Q3
Q2
Volume Mandiri Business
Saving Account (Tn)
Numbers of EDC
Q1
102.3
664.8
85.8
,
10.2%
YoY
Growth
87.5
79.4
,
,
512.9
,
464.4
59.4
489.2
312.8
437.5
361.8
268.5
313.9
117.8 194.5
34.7
490.3
223.7
249.3
45.7%
YoY
Growth
318.6
382.0
17.7
285.7
196.5
,
89.0 110.5 166.6
414.7
81.9 98.5
315.2 347.6
258.2
200.3
65.5
126.2
52.1 89.4
,
604.3
,
Q1 2015
2014
2013
2012
2011
2010
2009
2008
2007
1Q2015
1Q2014
2014
2013
2012
2011
2010
2009
2008
2007
2007 2008 2009 2010 2011 2012 2013 2014 Q1'15
3.5 4.8
,
8.0
,
27
Making Inroads into SME and Retail Payments
# SME Business w/ Mandiri Acc
789,300
# MTB Transaction & Volume
807,496
400,000
350,000
643,334
300,000
543,972
250,000
200,000
14,508
15,996
15,000
16,052
12,773
11,385
14,068
12,616
9,235
10,601
18,000
12,000
9,000
150,000
6,000
299,417
349,868
306,831
290,019
272,212
265,423
261,935
212,844
50,000
201,106
100,000
3,000
-
Q1'13
2012
2013
2014
Q1 2015
Q3'13
Q1'14
# of Volume
Q3'14
Q1'15
# of Transactions (000)
# MIB Transaction Value & Users
Fiesta Point Program
A program to get points based on savings average balance and #of
transactions through e-channel or branch, so that the Customer has
the opportunity to earn immediate prizes.
Mandiri Belanja Untung Program
79,970
73,666
57,447
53,124
47,304
42,582
32,273
Co-promotion with the ITC Group for the merchant and the buyers
who transact in ITC by using Mandiri Debit and also a reward
program for the building management.
18,528
Belanja Hoki/ Dagang Hoki Program
11,535
24,676 26,441
18,216
15,971 17,802
13,542 15,312
25,857
Prizes for buyers who do the transactions in the merchant (as a
participants), or using Mandiri EDC. For sellers, they have the
opportunity to be included to the national lucky draw.
22,570
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15
Transaction Value (Rp Bn)
# of Active Users
28
116.6%
116.0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
29
Prov/NPL
0
2,000
6,000
8,000
10,000
12,000
4,000
2.27%
2.15%
2.16%
2.23%
2.07%
1.90%
1.90%
1.89%
2.08%
1.87%
2.04%
2.07%
2.22%
2.21%
2.56%
2.42%
2.60%
2.42%
2.60%
2.54%
2.56%
2.79%
3.79%
4.78%
5.85%
4.73%
4.44%
4.74%
5.14%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q'10
2Q'10
1Q'10
4Q'09
3Q'09
2Q'09
1Q'09
4Q'08
3Q'08
2Q'08
1Q'08
Gross NPL Ratio
138.9%
127.1%
122.5%
136.1%
14,000
16,000
18,000
20,000
22,000
157.4%
150.5%
26,000
24,000
157.1%
170.3%
185.1%
185.5%
185.1%
155.5%
155.2%
191.7%
206.0%
192.4%
193.4%
189.6% 187.6%
185.3%
28,000
30,000
Category 2 Loans
NPL Movement - Consolidated
Gross NPLs 2.27%, Coverage at 150.5% - Category 2 Stable
at 5.09%
27,116
22,958
23,825
21,586
19,272
17,755
17,672
16,989
15,626
14,856
15,676
13,606
13,944
12,986
13,336
14,292
14,846
16,924
19,054
18,824
18,886
18,838
19,559
17,124
17,255
15,918
13,502
13,451
14,058
Q1 Total NPLs of Rp8.71 tn with Rp949 bn in Write-Offs
Non-Performing Loan Movements (Rp tn) – Bank Only
Movement by Customer Segment (Rp Bn)
0.13
0.08
1.60
0.95
Corp
0.35
7.92
8.71
Comm
Small
Micro
Cons
1800
1600
232
1400
1200
480
4Q '14
UG to PL DG to NPL Payment Write-Offs
Other
1Q '15
Non-Performing Loans by Segment
800
NPLs
1Q
(Rp tn)
(Rp tn)
(%)
Corporate
2.70
(0.02)
1.54%
Commercial
1.47
0.07
1.01%
Small
1.91
0.42
3.45%
NPLs
Micro
1.24
0.18
3.34%
Consumer
1.38
0.13
2.11%
Total
8.71
0.79
1.81%*
* excluding loans to other banks
1000
307
600
700
229
400
214
200
0
16
49
189
16
UG to PL
DG to NPL
115
84
W/O
30
1Q 2015 Annualized Net Downgrades of 1.3% on Loans
Originated Since 2005
Total Loans originated since 2005
Net Upgrades(%)/Downgrades(%)#
Loan
Background
1Q’15
Balance
(Rp bn)
1Q 2015 Details
1Q
2013
2Q
2013
3Q
2013
4Q
2013
1Q
2014
2Q
2014
3Q
2014
4Q
2014
1Q
2015
DG to
NPL
%
UG to
PL
%
Corporate
167,848
0.00
0.01
0.00
0.00
0.10
-
-
0.06
-
-
-
Commercial
139,370
0.24
0.05
0.10
0.01
0.08
0.04
0.12
0.37
0.13
0.14
0.00
Small
52,247
1.28
0.59
1.05
0.64
0.97
0.70
0.45
0.31
1.29
1.32
0.03
Micro
37,207
1.25
1.10
1.18
0.89
1.16
1.26
1.19
0.83
1.25
1.29
0.04
Consumer
65,356
0.28
0.18
0.17
0.07
0.35
0.20
0.20
0.09
0.28
0.35
0.07
462,029
0.34
0.18
0.25
0.13
0.30
0.21
0.20
0.25
0.33
0.34
0.02
Total
# % downgrades and upgrades are quarterly % figures
31
32
0.0%
2008
0.5%
1.0%
2009
1.2%
1.5%
2010
2.7%
2.0%
2011
0.0%
2.5%
2012
0.3%
3.0%
2013
0.0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
4Q '07
3Q '07
2Q '07
1Q '07
4Q '06
3Q '06
2Q '06
1Q '06
4Q '05
5.0
7.0
9.0
11.0
13.0
15.0
17.0
19.0
21.0
23.0
25.0
19.4
18.8
18.6
17.4
20.3
23.1
21.5
22.3
21.7
18.4
16.9
16.2
16.6
16.4
16.2
17.2
17.1
17.1
15.3
15.2
14.3
13.1
13.6
13.5
13.5
14.2
13.9
14.0
11.7
11.7
12.0
12.5
12.6
11.2
11.4
9.9
11.7
14.3
Annualized Relapsed Rate of Restructured Loan Portfolio
2014
0.0%
Restructured Loans
0.0%
Declining Restructured Loans Since 2005
0.0%
2015
Enhancing Synergies & Value from Subsidiaries
Syariah Banking
Investment Banking
Insurance
Niche Banking
Multi-Finance
Bank Sinar
Harapan Bali
Total Assets
Rp67.2 tn
Bond Trading Volume
Rp21.2 tn
Total Assets
Rp22.7 tn
Total Loans
Rp962.0bn
Total Financing
Rp3.7tn
Total Financing
Rp48.8 tn
Equity & FI Underwriting
Rp1.2 tn
Annual FYP
Rp648 bn
Net Interest Margin
10.61 %
Net Interest Margin
3.56%
Total Deposits
Rp59.8 tn
Equity Trading Volume
Rp36.6 tn
ROA
6.12%
ROA
2.22%
ROA
5.51%
ROE
7.92%
ROE
4.8%
ROE
72.3%
ROE
15.28%
ROE
32.66%
• 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 Bank Mandiri’s
network and customer
throughout Indonesia to
develop multi-finance
segment, especially in
vehicle-ownership
financing.
33
34
34.32% YoY
Growth
6.06% YoY
Growth
3.56% YoY
Growth
# Of Policyholders
Net Profit After Tax (in Bn)
Annual First Year Premium (AFYP) (in Bn)
AXA Mandiri Financial Services Performance
3,162,354
2,961,906
2,656,672
2,479,161
2,354,395
2,216,648
2,122,563
2,032,635
1,966,698
1,918,703
1,878,121
1,858,702
1,790,508
1,744,124
1,695,242
1,638,543
1,602,778
1,518,536
892,582
810,604
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
360
308
316
297
348
256
269
270
298
259
262
234
258
255
237
183
171
235
245
90
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
648
648
1,314
832
611
774
726
850
695
667
712
892
796
946
769
742
820
673
549
599
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
InHealth – Opportunity to Increase Fee Income and
Contribute to the Insurance Portfolio
1,600
1,400
1,200
1,073
1,000
250
1,400
1,410
1,203
200
150
811
800
100
600
400
203
200
36
394
78
47
107
120
203
67
351
50
41
-
0
2009 2010 2011 2012 2013 2014
Profit (Rp Bn)
1,400,000
6,242
1Q
1Q
2014 2015
GWP (Rp Bn)
6,314 6,262
1,200,000
6,094
6,400
6,189
6,086
6,200
1,000,000
6,000
800,000
5,800
5,600
848,997
1,087,313
1,141,896
1,118,206
1,175,240
200,000
692,831
400,000
5,501
1,023,228
600,000
-
5,400
5,200
5,000
2009
2010
2011
Total Member
2012
2013
2014
# of Providers
1Q
2015
Leveraging our institutional, corporate, &
commercial customers
We have over 700 institutional, 300 corporate, and 1,700
commercial customers with the potential to become members
of InHealth
Providing solutions through our banking
products to InHealth healthcare provider
InHealth has nearly 6,000 healthcare providers and recorded
over Rp. 206 billion in claims year to date 2015
Bank Mandiri will leverage the hospital network as InHealth’s
partner to increase transactions through enhanced cash
management products
Bank Mandiri also will provide retail packaged products for
all the doctors as InHealth’s partner
Cross-selling Mandiri products to InHealth
members
InHealth earned premium payments of Rp. 351 billion in 2015
year to date from clients. Going forward, Bank Mandiri will
encourage the use of cash management products through
Bank Mandiri’s distribution channel and cross-sell other
product to over 1.1 million InHealth member
35
Bank Mandiri’s 2015 Corporate Guidance
2015 Target
1Q2015 Realization
Gross Loan Growth (YoY)
15%-17%
13.3%
Low Cost Deposits
Rp 435 tn
Rp 372 tn
>6.05%
5.62%
Efficiency Ratio
IDR 225 Tn
Revenue Market Share: 14–16%
ROE: >25%
Gross NPL:
1Q 2015
Results Presentation
April 24, 2015
Share Information
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Dec 31, 2014
BMRI
1,778.77%
15.78%
JCI
951.80%
5.58%
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Table of Contents
Results Overview
Page #
Indonesia’s Economic Condition
3
1Q 2015 Highlights
4
Key Indicators + Financial Highlights
SBU Performance Highlights
5–6
7
Bank’s Performance
8 – 11
Loan Performance
12 – 14
ROE & NIM
15 – 16
Fee-Based & CIR
17 – 18
Wholesale Business
19 – 21
Retail Business
22 – 28
NPL Movement
29 – 32
Subsidiaries
33 – 35
Targets & Initiatives
36
Additional Information
Operating Performance Highlights
Supporting Materials
2
Inflation And Current Account Deficit Appear Manageable
Core inflation Remains Stable and
Headline Inflation Is Dropping
Core inflation (% YoY)
20
BI rate (%)
18
9
Capital and Financial Account
Current Account (CA)
BoP
Headline inflation (% YoY)
20
GDP Expansion Remains Below The
Historical Average
Steps Are Being Enacted That Should
Improve The Current Account Deficit
8.5
15
8
16
15
10
14
10
7.5
7
12
5
5
10
8
7.50
6
-
5.04
5.94
-
6.38
6
6.5
5.5
(5)
4
(5)
5.01
5
(10)
2
4.5
Source : CEIC, Bloomberg
1Q15
1Q14
1Q13
1Q12
1Q11
1Q10
1Q09
1Q08
1Q07
4
1Q06
(10)
(15)
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
Mar-15
Mar-14
Mar-13
Mar-12
Mar-11
Mar-10
Mar-09
Mar-08
Mar-07
Mar-06
0
3
Bank Mandiri Remains on Track to become Indonesia’s Most
Admired Financial Institution
# of Accounts
Deposit 16.14 Mn
Loan 1.55 Mn
including mortgage
accounts of 166,709
e-Channel Tx
506Mn YTD
27% Growth
Retail Loans (1)
Rp 158.2 Tn
33.1% of Loans
High yield loan
amounting Rp 102.9 Tn
(1)
(2)
(3)
Small Business, Micro and Consumers
Exclude Mandiri Transaction System
Incl. KSM Centre, MMU Cash outlet and MobilMU
# of new Accounts (YTD)
Deposit 1.13 Mn
Loan 172,520
# of Outlets
2,317 Branches
2,749 Micro Outlets (3)
15,444 ATMs
# of Cards Issued
Credit 3.73 Mn
Debit 12.40 Mn
Prepaid 5.41 Mn
Cash Management
14,105 Customers
14.5 Mn Tx YTD
2015 (2)
Subsidiary Income
Total Rp 607 Bn
Sum of income from
8 subsidiaries
(11.8 % of EAT)
Alliances
Bank Guarantee: Rp4.7tn
Foreign Exchange: Rp6.4tn
Fund Under Management
(FUM): Rp4.7tn
4
5
1Q
2015
201
529,973
201
2014
472,435
201
2013
388,830
201
2012
314,381
201
2011
246,201
201
2010
198,547
200
2009
5,138
1Q
2015
201
19,872
201
2014
18,204
201
2013
15,504
201
2012
12,246
201
2011
9,218
201
2010
7,155
200
2009
19.39%
1Q
2015
5.97%
2014
5.74%
2013
5.46%
2012
5.11%
2011
5.28%
2010
5.04%
2009
2.27%
1Q
2015
2.15%
2014
1.90%
2013
1.87%
2012
2.21%
2011
2.42%
2010
2.79%
2009
1Q
201
2015
372,074
1Q
2015
20.95%
201
2014
380,512
2014
22.23%
201
2013
359,957
2013
22.55%
201
2012
316,127
2012
22.00%
201
2011
256,395
2011
24.40%
201
2010
201,958
2010
22.10%
200
2009
186,492
2009
Non Performing Loan (%)
Net Interest Margin (%)
5.62%
Total CASA (Rp bn)
Total Loans (Rp bn)
Earning After Tax (Rp bn)
Return on Equity (%)
Key Indicators Remain Strong Despite 1Q Seasonality
532,824
Key Financial Highlights
Bank Mandiri’s 1Q 2015 Performance across several key indicators:
1Q’14
1Q’15
Rp470.4 tn
Rp532.8 tn
13.3%
2.07%
2.27%
9.7%
0.67%
0.89%
32.8%
63.0%
59.2%
(6.0%)
Rp334.7 tn
Rp372.1 tn
11.2%
NIM*
5.92%
5.62%
(5.2%)
Efficiency Ratio
43.0%
44.4%
3.2%
Rp4,925 bn
Rp5,138 bn
4.3%
Loans
Gross NPL Ratio
Net NPL Ratio
Low Cost Funds Ratio
[Low Cost Funds (Rp)]
Earnings After Tax
%
* Starting 4Q2014, we backout the LPS premium from interest expense. using the same computation with the previous method, our 1Q’15/1Q’14 NIM was 5.45% /5.75%
6
Balanced Earnings from All Business Units
Net Interest Income Analysis 1Q 2015
(Rp Bn)
Fee Based Income 1Q 2015
(Rp Bn)
2,876
2,611
Treasury and
Markets
844
1,175
1,652
1,596
Corporate Banking
236
Commercial Banking
203
1,624
101
1,006
478
133
1,701
1,495
1,174
Treasury and
Markets
Corporate
Banking
Asset Spread
Consumer Banking
987
873
Commercial
Banking
Liability Spread
Consumer
Banking
Micro and
Business
Banking
Micro and Business
Banking
1,142
481
Net Interest Income
Notes : Due to reorganization of Bank Mandiri operating segments in January 2015 historical data is not available at this time
7
Maintaining Momentum for Growth
Loans by SBU + Subsidiaries
(Rp Tn)
Deposits by Product – Consolidated
(Rp Tn)
Y-o-Y
Total
Total
532.8 tn
Subsidiaries
Micro
Cons
Int'l
Recovery
Small
Comm
Corp
470.4tn
Rp Savings
33.730.5
18.3%
52.0%
531.6tn 27.5
20.1
20.5
20.0
28.2
29.0
27.9%
226
226.2
222
222.3
2
201.6
176.9
190.0
153.7
155.2
150.7
20.4
17.8
20.3
15.6
15.3
12.510.312.4
152.8
83.4
79.6
67.2
74.2
74.6
61.2
63.0
75.0
67.3
59.0
77.9
63.9
73.4
78.9
138.9
137.5
148.1
120.8
45.3
47.9
49.4
143.5
46.2
140.8
147.8
50.3
49.1
58.1
52.0
51.1
11.711.1
43.545.0
11.8
38.549.2
36.1
33.3
28.228.028.5
25.3
24.7
20.7
23.3
22.123.222.3
24.0
19.0
16.8
22.3
15.3
22.225.4
15.8
23.122.9
14.0
22.0
12.013.413.6
12.2
11.612.312.7
11.6
9.9 10.8
102.9
108.8
121.9
119.8
126.5
135.4
151.8
150.4
159.9
166.2
186.9
179.9
189.8
198.8
214.7
201.9
203.0
208.0
227.7
207.3
1Q'10
2Q'10
3Q'10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q'10
2Q'10
1Q'10
97.1
170.7
173.3
171.9
161.3
160.8
163.7
155.2
146.9
124.7
126.3
123.2
119.2
113.0
106.2
103.2
96.2
85.1
85.4
84.2
80.7
74.5
6.2%
FX Savings
39.9
1.5 1.6 1.8 1.6
1.4 1.3
1.7
1.5
Rp Demand
127.0
(65.3%)*
FX Demand
140.0
24.7%
Rp Time
16.1
24.0
47.8
1.3 1.4 1.6
0.2 0.4
14.4%
628.7tn
FX Time
127.8
1.5
19.5%
124.4
4.0 3.9
62.4
64.7
42.5
19.0
60.3
4.9
20.7
4.8 16.8 38.4
56.6
38.4
15.1
57.4
55.2
4.8
35.0
13.1
33.1
52.4
4.6
6.1 11.8 30.9
47.749.3
9.5 30.2
6.1 27.6
8.5
43.344.5
7.8 6.7
25.8
40.7
7.7
7.3
39.0
8.6
9.1 6.5 22.7 23.3 34.336.3
6.0
20.5
9.7 19.3
1.3 1.3 0.8
5.6
30.732.4
2.0 2.3 1.3
17.7 26.728.6
1.7
(2.8%)
32.0%
640
620
600
580
560
540
520
500
480
460
440
420
400
380
360
340
320
300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0
176.2
3.7 3.8
3.8 36.037.2
32.7
3.9
4.2 3.9 31.0
57.2 55.3
4.2 27.0 28.2
52.0
3.9 24.9
46.3
49.0
23.9
65.7
43.7 46.5
24.7
13.3%
(1.8%)
145.1
138.9
127.7
123.7
116.3
116.9
111.0
104.2
102.0
102.7
93.3
89.8
82.5
80.7
74.7
70.1
64.7
63.8
57.5
53.1
49.1
540
520
500
480
460
440
420
400
380
360
340
320
300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0
Y-o-Y
33.4%
24.1%
5.5%
2.7%
*Loans from Treasury & International have been reallocated to Corporate following
the reorganization in early 2010
8
3 Key Areas of Focus for 2020
Wholesale Strategy
Deepen Client
Relationship
Retail Strategy
Group Wide Strategy
Integrate The Group
Micro
Integrated Wholesale Transaction Bank
Holistic Product Suite
Culture of Cross-Selling across
Wholesale, Retail and subsidiaries
Cross Border Coverage
Easy Access & Simple Product
SME
Sector Led Solutions
Through Expertise-led Client Solutions
Accelerate Growth
Segment
Engaging in Integrated Retail Initiatives
with Subsidiaries and Business Units to
Drive Cross Selling
One Stop Sales & Service
Individual
Grow with Customers
Supporting Clients’ Regional Needs
Current Achievments (Q1 2015)
Current Achievments ( Q1 2015)
Total Wholesales Fees Rp 1.1 Tn 1)
Total Wholesale Low Cost Deposits
Rp 92.5 Tn.
Growth of Trx Cash Management 81.86%2).
Total Wholesale Trx. Fees Rp 922.4 Bn
1) Fee-Based Provision, Commission & Fee
2) Excluding Mandiri Transaction System
Current Achievments (Q1 2015)
Volume of Business Alliances :
Bank Guarantee : Rp 4.7 Tn.
Foreign Exchange : Rp 6.4 Tn.
FUM : Rp 4.7 Tn
Wholesale Product Holding : 8.75
Total Retail Fees of Rp 2.2 Tn 1)
Total Retail Low Cost Funds Rp 251 Tn
YoY increase in E-Channel transaction : 27.0%
Mandiri Business Saving reaches Rp 87.5 Tn
9
Strong and Liquid Balance Sheet
(Rp Bn, Consolidated)
Assets
Q1 2015
Q1 2014
Liabilities
Q1 2015
Q1 2014
Cash
16,756
14,501 Current Account
141,491
110,738
Current Acc w/ BI & Other Banks
60,165
60,149 Savings
230,584
223,970
Placement w/ BI & Other banks
62,821
33,183 Time Deposits
256,638
196,903
Advances (Other)
34,273
21,340
Marketable Securities
44,664
30,945 Total Deposits
628,712
531,611
1,808
1,773
Government Bonds
100,115
Loans (Gross)
532,824
470,423 Securities Issued
Provisions of Loans
(18,240)
(16,630) Deposits from other banks
29,148
24,535
Net Loans
514,584
453,793 Borrowings
22,011
15,125
21,202
11,786
60,676
55,613
104,791
89,041
868,348
729,483
Reverse Repo
Other Provisions
Deferred Tax Assets
Other Assets
Total
5,236
(2,341)
3,710
28,366
868,348
90,649
778 Other Int. Bearing Liabilities
(2,015) Non Int. Bearing Liabilities
3,755 Equity incl. Minority Interest
22,405
729,483 Total
10
Strong Revenue Growth
Summary P&L
Interest Income
Interest Expense
Net Interest Income
Net Premium Income
Net Interest Income & Premium Income
Other Non Interest Income
* Other Fees and Commissions
* Foreign Exchange Gains - Net
* Gain fr. sale & Incr. in Val & Sale of Bonds
* Others
Total Non Interest Income
Total Operating Income
Provisions, Net
Personnel Expenses
G&A Expenses
Loss from decr. in value of Sec & Gov Bonds
Other Expenses
Total Expense
Profit from Operations
Non Operating Income
Net Income Before Tax
Net Income After Tax
Q1
2015
17,117
6,853
10,264
681
10,945
Q4
2014
17,363
6,536
10,827
697
11,524
Q1
2014
14,313
5,064
9,249
584
9,833
Y-o-Y
∆(℅)
19.6%
35.3%
11.0%
16.5%
11.3%
Q-o-Q
∆(℅)
(1.4%)
4.9%
(5.2%)
(2.3%)
(5.0%)
2,349
388
230
911
3,877
14,822
(1,549)
(2,920)
(2,574)
(987)
(6,481)
6,791
2
6,794
5,138
2,534
399
111
1,132
4,176
15,700
(1,779)
(2,807)
(3,488)
(620)
(6,914)
7,007
10
7,016
5,418
2,130
404
158
835
3,528
13,361
(1,217)
(2,626)
(2,309)
(745)
(5,681)
6,463
(4)
6,459
4,925
10.3%
(4.1%)
45.9%
9.0%
9.9%
10.9%
27.3%
11.2%
11.5%
32.5%
14.1%
5.1%
N/A
5.2%
4.3%
(7.3%)
(2.9%)
107.7%
(19.5%)
(7.2%)
(5.6%)
(12.9%)
4.0%
(26.2%)
59.3%
(6.3%)
(3.1%)
N/A
(3.2%)
(5.2%)
11
LDR Increased to 84.4%, Bank-Only Loan Growth of 15.3%
Quarterly Loan Data
Quarterly Loan Segment Details
(Consolidated)
(Bank Only)
1Q '09
2Q '09
3Q '09
4Q '09
1Q '10
2Q '10
3Q '10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
Corporate
Commercial
Small
Micro
1Q'15
3Q'14
1Q'14
3Q'13
1Q'13
3Q'12
1Q'12
3Q'11
1Q'11
3Q'10
28.3% 30.0%26.6%
24.7%
23.7% 22.3% 21.5%
23.2%
21.4%
26.9% 27.7%
24.0%
22.8%
23.4%
19.7%
13.3%
15.7% 15.3% 20.0%
13.3% 12.2%
9.9%
9.5%
13.8% 7.9%
7.5% 4.1%7.1% 6.5%
12.4%
6.4%
4.8%
3.7%3.7% 1.7%
4.6%
3.3%
1.4%
6.2% 2.3% 5.7%
5.5%
4.2% 0.5%
0.7%5.1%
4.2%
-0.4%
1Q'10
30.5%
62.4
60.3
37.2
56.6
36.0
57.4 32.7
55.2
52.4 27.0 31.0 57.3
55.3
28.2
52.0
24.9
47.749.323.9 46.5 49.0
44.5
44.1 46.3
43.3
20.7
19.0 42.5
40.7 16.8 38.5
39.0 15.1
36.3 13.1 35.138.5
34.3 11.8 33.2
9.5 30.9
30.732.48.527.730.3
28.6
26.76.5 7.3 7.725.9
23.624.86.020.722.824.5
20.621.75.4 5.619.7
19.7
4.8 5.117.418.0
4.615.8
14.4 16.6
3Q'09
YoY Growth (%)
65.7
64.7
78.8
42.6
79.7
43.6
82.0
45.3
82.7
50.6
82.9
50.4
88.7
54.2
92.8
58.6
93.6
64.7
92.5
64.5
103.1
70.7
110.4
75.3
111.7
81.1
118.6
82.9
125.2
90.1
129.3
93.6
131.7
103.0
129.9
102.3
151.9
104.4
153.5
118.2
169.7
117.1
166.7
116.5
166.3
123.9
176.8
127.9
178.2
139.1
175.1
145.2
1Q '09
2Q '09
3Q '09
4Q '09
1Q '10
2Q '10
3Q '10
4Q'10
1Q'11
2Q'11
3Q'11
4Q'11
1Q'12
2Q'12
3Q'12
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
175.2
175
181.6
181
188.3
188
198.5
198
201.9
201
218.0
218
231.9
231
246.2
246
251.8
251
276.7
276
297.5
297
314.4
314
327.2
327
350.4
350
365.2
365
388.8
388
391.6
391
428.7
428
450.8
450
472.4
472
470.4
470
485.8
485
506.5
506
530.0
530
532.8
532
84.5% 87.0%
84.4%
87.3%
78.7% 80.7% 84.4%
88.0%
71.7% 70.2%
83.4% 83.5% 85.0%
82.9%
63.2%62.8% 64.1%
75.9% 74.1%
66.3%67.6%
62.2% 61.4%
QoQ Growth (%)
Total
LDR (%)
1Q'09
Loans (Rp tn)
Y-o-Y Break
down
Consumer
As of Mar 2015; Non-consolidated numbers
12
Prudent Management of FX Balance Sheet
FX Loans & LDR
Rp Trillion (Bank Only)
80
120%
Breakdown of FX lending (Bank Only)
1Q ’15 (Total USD 5.623 Bn)
% (YoY)
111.0%
110%
70
USD
Billion
Mfg
1.43
Oil & Gas
0.91
-26%
Mining
0.73
-4%
Oth
0.65
110%
Bus Serv
0.51
106%
Trans
0.41
39%
Trading
0.40
-38%
Agri
0.38
13%
Utilities
0.11
-44%
Constr
0.09
-35%
Soc Serv
0.01
-20%
9%
104.5%
100%
60
95.9%
91.5%
86.6%
90%
89.0%
50
82.9%
80.7%
80.5%
78.3%
76.3%
40
76.2%
76.4%
76.0%
75.8%
71.7%
75.4%
68.2%
68.5%
30
80%
74.2%
72.0%
69.0%
73.2%
68.0%
71.3%
65.1%
66.8%
64.3%
60%
34.56
35.24
37.83
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
45.47
45.73
49.62
48.17
53.29
59.79
67.75
62.22
62.95
72.24
75.38
73.52
61.9%
70%
20
Loan Fx
Mar 15
Sep 14
Mar 14
Sep 13
Mar 13
Sep 12
Mar 12
Sep 11
Mar 11
Sep 10
Mar 10
Sep 09
Mar 09
Sep 08
Mar 08
50%
LDR FX
13
Rp 68.98 tn in Loans Disbursed in 1Q 2015
Loan Disbursement by Segment in 1Q (Rp tn) – Bank Only
Loan Movement (Rp tn) – Bank Only 1Q (2015)
3.84
30.57
68.98
7.57
32.55
0.95
5.66
6.11
4.00
17.24
68.98
478.52
475.27
34.23
FY'14
Disburs. Install. Payment Pay-off
FX
Impact
WriteOffs
1Q '15
Corporate* Commercial
Small
Micro
Consumer
Total
14
19.4% ROE, Supported by a Strong Capital Position
Bank Only - Capital & RWA Movement
Profit After Tax & ROE
IDR bn
31.3%
RoE - AT
CAR*
26.2%
491.3
23.2%
400.2
15.4%
13.4%
352.5
2.5
15.7%
15.5%
21.0%
21.5%
17.9%
16.6%
22.2%
22.0%
5,418 19.4%
18.1%
15.8%
Q4 PAT
Q3 PAT
Q2 PAT
Q1 PAT
20.8%
22.6%
22.1%
22.8%
5,401
10.0%
4,385
2.5%
4,869
14.9%
15.3%
4,509
3,073
242.4
3,972
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
645
799
1,017
967
1,300
308
1,390
1,408
2,536 2,352
2,543 3,744
1,693
1,166
1,345
1,528
1,329
690
602
1,744
1,168 1,549
2,031
1,040
610
97
519
-623
1,099*
1,526
4,303
2,681 3,403
1,234 1,113 1,221
2,003
372
305 1,027 1,390 1,400
510
4,925 5,138
2015
2014
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
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 2014 was 17.39%
2002
Total Capital (Rp tn)
2001
2004
2003
96.2
85.7
73.9
62.0
53.3
35.7
2002
3,991
775
30.5
2001
4,660
819
27.2
28.3
2000
2,850
195.8
172.9
134.0
112.2 28.4
115.9 27.4
108.927.5
17.0
91.925.5
72.5
58.1 15.4
42.6 13.3
RWA (Rp tn)
2,833
2013
23.4%
24.6%
514.9
25.3%
538.5
26.4%
24.2%
23.6%
27.7%
*1.1Tn from GIAA Recovery
15
Q1 NIM of 5.4% as Yield on Assets Decreased 48bps
Quarterly Net Interest Margins
Quarterly Yields & Costs by Currency
20%
!! "!
!" # $
!
15%
IDR
12.9%
12.8%
13.1%
10%
11.0%
10.5%
9.2%
9.9%
9.4%
8.9%
7.3%
9.1%
9.0%
9.6%
9.6%
8.7%
8.4% 8.3%
9.2% 9.1%
9.0%
8.7%
8.2% 8.1%8.2%
8.1% 7.8%
0%
6.4%
5.5%
4.8%
5%
12.7% 12.1% 12.5%
12.4%
12.2%
11.8% 11.2% 11.1% 11.8%
12.0% 12.1%
11.1% 12.2%
11.8% 11.9%
11.2%
11.4% 11.3% 10.8% 11.8%
8.5%
10.6%
7.2%
6.8%
6.2%
5.9%
7.9%
6.0%
6.5%
5.7%
5.9%
6.4%
5.3%
4.9%
4.7%
4.7%
4.5%
4.3%
3.9% 3.3% 4.0% 3.9%
4.6%
5.8%
5.3%
4.5%
4.4% 4.2%
3.9% 4.4%
4.0%
4.2% 3.1%
3.7%
3.1%
3.0%
3.3%
12.1%
4.5%
4.3%
4.2%
Avg Loan Yield
Avg Bond Yield
Avg COF
4.8%
3.9% 3.9%
3.3%
2.8%
3.8%
3.2%
3.5%
2.7% 2.8% 2.8%
3.1%
2.7%2.6%
4.0% 3.8% 3.7%
FX
5%
5.4%
5.9%
5.8%
5.9%
5.9%
6.1%
5.7%
5.3%
5.5%
5.7%
5.8%
5.5%
5.2%
5.4%
5.2%
5.4%
5.1%
5.8%
6.0%
5.2%
5.1%
5.3%
4.9%
5.3%
5.5%
5.4%
6.0%
5.5%
5.1%
4.7%
4.9%
3.6%
4.3%
0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
1Q'15
4Q'14*
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
4Q '07
4Q '06
4Q '05
4Q '04
* Starting on 4Q2014, we backout the LPS premium from the interest expense
6.6%
7.2%
6.6% 6.8% 6.6%
6.4%
5.8%
6.5%
5.4%
5.2%
5.1%
5.1%5.3%
4.9%
5.8%
4.5%
4.5%
5.0%
5.2% 5.0% 4.9% 4.7% 4.8%
4.8%
4.5% 4.4% 4.5% 4.2%
3.4%
3.0%
2.6%
2.3%
2.7%
2.7%
1.5%
2.1%
1.1%
0.6% 0.7% 0.7% 0.6% 0.8% 0.7%
0.8%
0.3%
0.8%
0.7%0.6% 0.7% 0.7% 0.9%
0.7%
0.5% 0.6%
16
Greater Detail On Fee-Based Income
Breakdown of 1Q 2015 Non-Loan Related Fees & Commissions (Rp bn)
Non-Loan Related Fees & Commissions
1Q-2015
4Q-2014
1Q-2014
Y-o-Y
Δ%
Q-o-Q
Δ%
Administration Fees
644
707
644
0.0%
(8.9%)
Opening L/C, BG & Cap Market (custodian & trustee)
253
258
230
10.0%
(1.9%)
Subsidiaries
376
339
379
(0.8%)
10.9%
Transfer, Retail Transaction
443
543
334
32.6%
(18.4%)
Credit Cards
379
410
291
30.2%
(7.6%)
93
94
86
8.1%
(1.1%)
7
52
24 (70.8%)
(86.5%)
17
18
17
0.0%
(5.6%)
137
113
124
21.2%
3.78%
2,349
2,534
2,130
10.3%
(7.3%)
Foreign Exchange Gains
388
399
404
(4.0%)
(2.8%)
Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds
230
111
158
45.6%
107.2%
Cash Recoveries
535
771
526
1.7%
(30.6%)
3,877
4,176
3,528
9.9%
18.4%
Total Operating Income
14,822
15,700
13,361
10.9%
(5.6%)
% of Non Loan Related fees to total opr. income
26.2%
26.6%
26.4%
Mutual Fund, ORI & Bancassurance
Syndications
Payroll Package
Others
Total
Total Fee Based Income (As Reported)
17
1Q Cost to Income Ratio of 44.42 %
Quarterly Consolidated Operating Expenses & CIR
Breakdown of 1Q 2015 Operating Expenses
CIR (%)
1Q 2015
4Q 2014
1Q 2014
Growth
QoQ
YoY
Personnel Expenses
51.3%
48.4%
46.6%44.4%
44.4%
43.2%
45.1%
43.2% 43.1%
42.8% 43.2%
41.6%
38.4%
42.5% 41.8%
44.0%42.7%
39.3%
41.1%
39.0%
39.0% 38.1% 37.3%
35.1%
32.4%
Base Salary
2,920
2,807
2,752
2,662
2,626
2,374
2,679
2,336
2,042
2,372
1,869
1,939
1,865
1,903
1,671
1,631
1,547
1,612
1,485
1,375
1,306
1,328
1,019
1,390
1,116
2,574
3,488
2,958
2,693
2,309
3,167
2,375
2,322
2,034
2,565
2,071
2,004
1,614
2,107
1,883
1,510
1,524
1,682
1,459
1,265
1,051
1,384
1,110
1,004
827
759
675
688
12.5%
10.4%
1,403
1,261
1,234
11.3%
13.7%
Post Empl. Benefits
92
82
100
11.4%
(8.2%)
Training
34
187
78
(81.8%)
(56.4%)
632
602
527
4.9%
20.0%
2,920
2,807
2,626
4.0%
11.2%
IT & telecoms
392
441
330
(11.1%)
18.7%
Occupancy Related
567
787
444
(28.0%)
27.7%
Promo & Sponsor
165
357
206
(53.8%)
(20.1%)
Transport & Travel
122
209
125
(41.4%)
(2.2%)
Goods, Prof. Svcs. & Oth.
280
517
311
(45.8%)
(10.1%)
Employee Related
448
491
365
(8.6%)
23.0%
Subsidiaries
599
686
527
(12.7%)
13.8%
2,574
3,488
2,309
(26.2%)
11.5%
987
620
745
59.3%
32.5%
6,481
6,914
5,681
(6.3%)
14.1%
Other Allowances
Subsidiaries
Total Personnel Expenses
G&A Expenses
Total G&A Expenses
Other Expenses
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
G&A Expenses
Personnel Expenses
Total Operating Expenses
*Reclassification of LPS fee from interest expense to other expense of Rp 302bn
in 1Q 2015 and Rp 269bn in 1Q 2014
18
Diversifying our Strength in Wholesale Lending…
Breakdown of Net Expansion in Corporate Lending
Q1 ’15 – Q1 ’14 (Total Rp8.41 tn)
Breakdown of Net Expansion in Commercial Lending
Q1 ’15 – Q1 ’14 (Total Rp28.68 tn)
%
%
Mfg-F&B
5,734
68.21%
Trad-Distr
4,573
15.94%
Bus Serv
5,550
66.02%
Bus Serv
3,716
12.96%
Constr
1,541
18.33%
Plantations
3,236
11.28%
Mfg-Metal
1,261
Mfg-Oth
15.01%
2,390
8.33%
Mfg-RawM
2,228
7.77%
Trad-Oth
1,768
6.16%
Mfg-P&P
1,763
6.15%
Oth
1,731
6.03%
Mfg-Text
1,497
5.22%
Mass Trans
1,489
5.19%
Constr
1,451
5.06%
Mining-Metal Ore
879
Agri Equip
752
Mfg-NonM
Mfg-RawM
717
10.46%
8.95%
8.53%
696
8.28%
606
7.21%
Mining-Coal
Livestock
515
6.13%
Soc Serv
463
5.51%
Mfg-Chem
-122.63%
Mining-Oil & Gas
Oth
-10,309
Rp Billion
5.05%
1,450
1,391
Rp Billion
4.85%
19
20
4,484
4Q14
3,989
3Q14
3,598
2Q14
2,657
1Q14
2,201
4Q13
1,178
4Q12
677
4Q11
248
4Q10
92,594
1Q15
66,920
1Q14
73,192
2014
74,334
2013
89,959
2012
74,116
2011
53,604
2010
61,691
2009
62,257
2008
58,055
2007
Exclude Mandiri Transaction System
1Q15
14,105
13,873
13,629
13,437
13,162
12,932
12,652
12,366
12,112
11,899
10,943
7,784
6,153
4,066
2,414
745
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Total CASA (IDR Billion)
38.4% YoY
Growth
*)
81.86% YoY
Growth
Average # of Cash Management Tx
(000), total 14.5Mn transaction in
1Q2015*)
Wholesale CASA Deposits
Cash Management Users
Wholesale Transactions Driving CASA
4,832
1Q15
4Q14
3Q14
2Q14
1Q14
4Q13
3Q13
2Q13
1Q13
2012
2011
2010
2009
2008
2007
2006
Growing Volume in Wholesale Transaction Business
Mandiri Cash Management*
Value (IDR Trillion)
Forex
# of Trx (000)
Value (USD Billion)
44,184
3,200.0
# of Trx
45,000
322,795 399,500
70.0
2,700.0
60.0
2,200.0
25,000
13,676
1,200.0
400,000
35,000
24,543
1,700.0
450,000
379,730
50.0
14,495
7,668
281,153
310,512
350,000
300,000
40.0
250,000
15,000
7,971
2,503
127,407
30.0
115,460
5,000
200,000
150,000
3,120
100,000
894
-5,000
14
16
56
61
63
-15,000
42
10.0
34
635
818
549
200.0
2,231
1,519
20.0
700.0
(300.0)
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
Q1 14* Q1 15*
-25,000
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
Trade Transaction : Export, Import, Domestic
Value (USD Billion)
160.0
140.0
Mar 14 Mar 15
Wholesale Remittance
# of Trx
509,207
517,251
495,813
520,948
510,916
50,000
-
-
Value (USD Million)
739,046
651,241
599,909
560,000
160.0
460,000
140.0
# of Trx
800,000
700,000
120.0
120.0
600,000
360,000
100.0
100.0
435,866 448,219
500,000
260,000
80.0
80.0
117,125 127,556
60.0
160,000
168,877
40.0
-40,000
-
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14
*)
Exclude Mandiri Transaction System
Mar 14 Mar 15
300,000
200,000
32
146
135
121
94
20.0
70
30
33
137
133
125
110
20.0
85
40.0
201,050
60,000
34
60.0
400,000
-
100,000
-
Dec 10 Dec 11 Dec 12 Dec 13 Dec-14
Mar 14 Mar 15
21
Retail Deposits Increased by 12.7% Y-o-Y
Retail Deposit Analysis – Bank Only
Average Quarterly Deposit Costs (%)
Rp Savings Deposits
FX Savings Deposits
Rp Demand Deposits
FX Demand Deposits
Rp Time Deposits
FX Time Deposits
CASA as % of total deposits
72.9%
15%
Rp DD
69.9%
Rp Savings
68.4%
66.1%
63.5%
64.7% 63.8%
Rp TD
63.8% 66.1%
71.6% 72.5% 71.9% 68.8%
61.4% 62.5%
420
69.6%
66.2%
63.4%
63.3% 64.9% 66.5%
9.5
9.5%
10%
400 62.3% 60.4%
9.3%
380
9.0
8.3% 7.9%
8.7%
7.2
360
7.0%
7.0
7.2%
7.8%
6.8%
6.9%
7.0
6.6%
6.5%
120.0
340
7.3%
6.3
5.7%
320
6.5% 6.3% 6.5%
6.4
6.3%
108.3
4.9% 4.9%
119.2
5.5%
5%
300
84.5 100.1
4.2%
5.0% 5.1% 5.0%
88.4
3.3%
3.4%
280
4.680.2
5.0
13.0
3.2%
3.1% 2.5%
2.8%
4.7
260
2.3%2.4% 2.0% 2.2% 2.0%
2.6%
40.2
2.0% 2.1%
3.3%
5.1
11.4
1.5% 1.5%
2.0%
3.0%
1.9%
12.8
13.1
12.1
240
5.3 5.0 5.0
2.5%
70.7
71.4
2.5% 2.8%
11.9
2.2% 2.4%1.8%
72.1 10.7
2.1%
33.0 33.6 34.4 33.5
1.5% 1.6%1.6% 1.5%1.6% 1.5%1.4%1.3%
5.2
220
71.5
28.6 29.7
5.8 5.3 5.2
24.0
70.3
0%
4.3
20.7
73.171.6
200
4.2
21.8
22.2
5.8
22.0
4.3
16.718.4
18.6
6.8 6.0 5.7
70.8
21.0
17.0
180
4.1
7.5
3.516.113.7 15.6
70.569.068.6
14.7
7.4
3.2 3.515.4
7.7 7.4
FX DD
FX TD
160
68.7
15.714.6 13.0
68.571.870.6
12.8
3.3
3.9%
140
68.7
2.712.211.312.7
3.7%
4%
2.7 2.711.9
5.0 5.1 5.463.4 65.1
11.5
11.1
10.5
62.9
2.4
120
1.7
2.5 9.111.011.711.9
3.0%
44.442.050.6
1.8 9.4 8.2
2.3 8.811.0
100
8.0 8.1 9.310.2
2.6% 2.9%
1.41.4
6.1
5.1 5.3 6.8
2.8%
5.6 6.9 7.4
6.1 6.8
4.4 6.2
80 5.1
5.1
2.4%
1.9%
1.8%
2%
60
1.8%
1.6%
1.2% 1.1% 1.3%
40
0.8%
0.9%
0.6%
0.7%
0.7%
0.4%
0.5% 0.8% 1.2%
20
0.3%
0.3% 0.5%
0.9%
0.3%
0.3% 0.3%
0.1%0.3%0.3%0.2%
0.1% 0.1%
0.3%
0
0.3% 0.3%
0.2%
0%
70.1%
182.5
202.6
184.7
180.8
179.0
190.9
176.3
166.8
157.5
165.0
146.1
140.6
132.7
134.0
120.4
112.7
107.3
109.6
98.5
93.4
88.2
95.5
86.3
81.3
75.9
80.4
74.4
78.8
74.6
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
22
Building our High Yield Business in Retail Lending
Micro Credit
Retail to Total Loans
(Rp Bn)
60,676
63,323
66,851
73,324
81,046
84,675
91,504
96,268
105,192
108,434
118,788
123,833
130,158
131,857
140,189
146,744
157,974
158,173
170,000
33.1%
32.5%
160,000
31.8%
31.8% 31.3%
33.2%
150,000
32.6%
30.2%
140,000
31.7% 31.2%
29.6%
30.9%
130,000
28.6% 28.3%
29.8%
120,000
29.6%
110,000
100,000 27.7% 27.6%
90,000
80,000
70,000
60,000
50,000
40,000
30,000
9,022
34%
32%
28,205
YoY
32.0%
1Q2014
Growth
30%
1Q 2015
4Q 2014
3Q 2014
2Q 2014
1Q 2014
4Q 2013
3Q 2013
2Q 2013
1Q 2013
4Q 2012
3Q 2012
2Q 2012
1Q 2012
4Q 2011
3Q 2011
2Q 2011
1Q 2011
4Q 2010
Business Banking
1Q2015
28%
26%
Business Banking
(Rp Bn)
24%
9,015
22%
46,281
YoY
19.5%
55,296
1Q2014
Growth
1Q2015
20%
Consumer Finance
(Rp Bn)
Retail to Total Loans
Micro Credit
37,227
8,279
Consumer
Finance
57,371
YoY
14.4%
65,650
1Q2014
Growth
1Q2015
23
24
1,046
1,009
972
4Q '14
3Q '14
2Q '14
1Q '14
815
2013
694
2012
) !*
( "
&'
2010
430
2009
271
562
2011
2008
703
1,128
897
1Q '15
706
1,127
898
4Q '14
754
3Q '14
713
2Q '14
739
1,110
1,072
739
%
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
1Q '10
1Q '15
945
910
889
!' +
"
Customers (000)
Network
Strong Microfinance Growth
# Of New Customers
134,501
162,738
158,909
167,145
140,886
162,181
136,196
160,620
138,747
147,825
131,715
140,064
126,509
146,359
121,007
110,000
74,037
94,855
76,325
79,500
73,566
738
1,028
697
1Q '14
751
1,027
687
2013
502
2012
300
2011
200
2010
928
760
878
710
800
480
800
152
10
600
2009
2008
…as well as Consumer Lending, which Rose 14.43%
Y-o-Y as Auto Lending Remains Strong
Quarterly Consumer Lending Balances by Type
Rp65.7 tn
750 683
Payroll Loans
Home Equity Loans
Mortgages
765
809 840
Growth (%)
Y-o-Y
Other
8,343
7,568
6,855
5,557
57
5,620
20
5,303
03
8,288
11,083
10,218
9,013
11,253
11,880
12,201
3,240
3,310
3,326
10,642 3,198
10,030 3,172
9,781 3,181
9,374 3,240
8,386 3,365
8,206 3,471
8,958 3,312
7,486 5,025
7,209
09 5,035
6,6 4,590 7,753 3,571
6,609
26,207
26,495
26,347
26,505
26,690
26,995
27,357
26,135
24,092
22,818
20,919
18,764
20,113
5,829 4,245 7,143 3,777
16,466
17,779
4,2003,910 6,861 3,949
15,523
14,268
3,492
3,761 6,708 3,979
3,454
3,575 6,398 3,964
13,500
698 791
447
5,1154,296 6,995 3,887
873928
6,
6,593
4,492 7,412 3,679
1,016 1,037
964
7,905 5,19
,195
966
1,010
12,260
904
927
805
Loan Type
14,890
Credit Cards
13,983
Auto
13,271
Other
2,826
3,589 6,374 3,957
70,000
67,500
65,000
62,500
60,000
57,500
55,000
52,500
50,000
47,500
45,000
42,500
40,000
37,500
35,000
32,500
30,000
27,500
25,000
22,500
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0
Consumer Lending Growth by Type
Q-o-Q
(17.75%)
(5.75%)
Auto Loans*
34.35%
6.49%
Credit Cards
50.16%
0.67%
Payroll Loans
21.56%
2.49%
4.85%
0.11%
Mortgages
(1.81%)
(1.09%)
Total Consumer
14.43%
1.46%
Home Equity Loans
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
*Auto & Motorcycle Loans channeled or executed through
finance companies = Rp 11.05 Tn in our Commercial Portfolio
25
Enhanced Transaction Capabilities
Quarterly Transaction Value (Rp tn)
Quarterly Transaction Volume (Mn)
280
ATM
Branch
250.8
246.1
Mobile Banking
249.0
236.3
Internet Banking
243.5
232.9
226.6
234.7
222.3
255
230
218.1
205
204.0
180
189.4
186.2
168.1
155
142.0
130 122.9
55
30
5
220
200
14
213.1
208.1
210.0
197.0
206.4
191.2
192.6
179.3 184.1
177.3
159.9 170.0
153.8
160
130.8
141.9
126.9
116.6
112.5
100.1
88.7
85.3 85.3
87.8
76.7
84.7
70.0
81.0
66.8
68.5
66.7
57.4
53.2
49.7
45.3
42.338.641.740.8
43.8
44.7
51.0
46.5
43.040.7 34.5 39.1 45.4
33.0
31.8 26.2
16.5 26.6
30.8
27.3
8.3
25.4
15.0
15.421.3
11.6
7.9
77.8
120
100
80
97.1
10
8
6
4
60
40
20
0
8.72
8.35
8.96
8.06
7.67
8.17
77.1
46.7
46.1
36.0
32.2 33.3 40.0
29.4
35.7
26.8
23.5
33.3 28.3
21.5
28.7
16.3
25.6
8.7 11.7
7.1
9.2 14.925.3
4.8
8.8
5.5
5.0
2.9
2.12.6
10.5
8.3
1.4
5.5
12.12
11.82
11.59
11.10
11.65
11.39
10.57 10.89
9.99 10.16
9.24 9.65
9.95
7.20
107.5
95.5
Debit Cards
Mobile Banking
Internet Banking
12
147.7
140
6.69
6.62
6.33
6.09
5.80 6.216.55
5.63
5.97
5.29
5.74
5.47
4.614.61
5.08
4.21
3.17
2.16
2
1.56 1.79
1.36 1.46
1.161.26
1.721.85
1.51
1.311.39
1.111.210.921.011.03 1.21
0
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4'11
Q3 '11
Q2'11
Q1' 11
Q4'10
Q3'10
Q2'10
Q1 '10
Q4 '09
Q3 '09
Q2 '09*
Q1 '09
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4'11
Q3 '11
Q2'11
Q1' 11
Q4 '10
Q3 '10
Q2 '10
Q1 '10
Q4 '09
Q3 '09
Q2 '09
Q1 '09
Q1 '15
Q4 '14
Q3 '14
Q2 '14
Q1 '14
Q4 '13
Q3 '13
Q2 '13
Q1 '13
Q4 '12
Q3 '12
Q2 '12
Q1'12
Q4 '11
Q3 '11
Q2'11
Q1' 11
Q4 '10
Q3 '10
Q2 '10
Q1 '10
Q4 '09
Q3 '09
Q2 '09
Q1 '09
-20
ATM
Mobile Banking
Internet Banking
180
148.1
105
80
240
Quarterly Users (Mn)
* Inactive cards have been purged
26
Retail Payment system gaining Traction
Fee Income from e-channel Tx (Bn)
Q4
Q3
Q2
Volume Mandiri Business
Saving Account (Tn)
Numbers of EDC
Q1
102.3
664.8
85.8
,
10.2%
YoY
Growth
87.5
79.4
,
,
512.9
,
464.4
59.4
489.2
312.8
437.5
361.8
268.5
313.9
117.8 194.5
34.7
490.3
223.7
249.3
45.7%
YoY
Growth
318.6
382.0
17.7
285.7
196.5
,
89.0 110.5 166.6
414.7
81.9 98.5
315.2 347.6
258.2
200.3
65.5
126.2
52.1 89.4
,
604.3
,
Q1 2015
2014
2013
2012
2011
2010
2009
2008
2007
1Q2015
1Q2014
2014
2013
2012
2011
2010
2009
2008
2007
2007 2008 2009 2010 2011 2012 2013 2014 Q1'15
3.5 4.8
,
8.0
,
27
Making Inroads into SME and Retail Payments
# SME Business w/ Mandiri Acc
789,300
# MTB Transaction & Volume
807,496
400,000
350,000
643,334
300,000
543,972
250,000
200,000
14,508
15,996
15,000
16,052
12,773
11,385
14,068
12,616
9,235
10,601
18,000
12,000
9,000
150,000
6,000
299,417
349,868
306,831
290,019
272,212
265,423
261,935
212,844
50,000
201,106
100,000
3,000
-
Q1'13
2012
2013
2014
Q1 2015
Q3'13
Q1'14
# of Volume
Q3'14
Q1'15
# of Transactions (000)
# MIB Transaction Value & Users
Fiesta Point Program
A program to get points based on savings average balance and #of
transactions through e-channel or branch, so that the Customer has
the opportunity to earn immediate prizes.
Mandiri Belanja Untung Program
79,970
73,666
57,447
53,124
47,304
42,582
32,273
Co-promotion with the ITC Group for the merchant and the buyers
who transact in ITC by using Mandiri Debit and also a reward
program for the building management.
18,528
Belanja Hoki/ Dagang Hoki Program
11,535
24,676 26,441
18,216
15,971 17,802
13,542 15,312
25,857
Prizes for buyers who do the transactions in the merchant (as a
participants), or using Mandiri EDC. For sellers, they have the
opportunity to be included to the national lucky draw.
22,570
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15
Transaction Value (Rp Bn)
# of Active Users
28
116.6%
116.0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
29
Prov/NPL
0
2,000
6,000
8,000
10,000
12,000
4,000
2.27%
2.15%
2.16%
2.23%
2.07%
1.90%
1.90%
1.89%
2.08%
1.87%
2.04%
2.07%
2.22%
2.21%
2.56%
2.42%
2.60%
2.42%
2.60%
2.54%
2.56%
2.79%
3.79%
4.78%
5.85%
4.73%
4.44%
4.74%
5.14%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q'10
3Q'10
2Q'10
1Q'10
4Q'09
3Q'09
2Q'09
1Q'09
4Q'08
3Q'08
2Q'08
1Q'08
Gross NPL Ratio
138.9%
127.1%
122.5%
136.1%
14,000
16,000
18,000
20,000
22,000
157.4%
150.5%
26,000
24,000
157.1%
170.3%
185.1%
185.5%
185.1%
155.5%
155.2%
191.7%
206.0%
192.4%
193.4%
189.6% 187.6%
185.3%
28,000
30,000
Category 2 Loans
NPL Movement - Consolidated
Gross NPLs 2.27%, Coverage at 150.5% - Category 2 Stable
at 5.09%
27,116
22,958
23,825
21,586
19,272
17,755
17,672
16,989
15,626
14,856
15,676
13,606
13,944
12,986
13,336
14,292
14,846
16,924
19,054
18,824
18,886
18,838
19,559
17,124
17,255
15,918
13,502
13,451
14,058
Q1 Total NPLs of Rp8.71 tn with Rp949 bn in Write-Offs
Non-Performing Loan Movements (Rp tn) – Bank Only
Movement by Customer Segment (Rp Bn)
0.13
0.08
1.60
0.95
Corp
0.35
7.92
8.71
Comm
Small
Micro
Cons
1800
1600
232
1400
1200
480
4Q '14
UG to PL DG to NPL Payment Write-Offs
Other
1Q '15
Non-Performing Loans by Segment
800
NPLs
1Q
(Rp tn)
(Rp tn)
(%)
Corporate
2.70
(0.02)
1.54%
Commercial
1.47
0.07
1.01%
Small
1.91
0.42
3.45%
NPLs
Micro
1.24
0.18
3.34%
Consumer
1.38
0.13
2.11%
Total
8.71
0.79
1.81%*
* excluding loans to other banks
1000
307
600
700
229
400
214
200
0
16
49
189
16
UG to PL
DG to NPL
115
84
W/O
30
1Q 2015 Annualized Net Downgrades of 1.3% on Loans
Originated Since 2005
Total Loans originated since 2005
Net Upgrades(%)/Downgrades(%)#
Loan
Background
1Q’15
Balance
(Rp bn)
1Q 2015 Details
1Q
2013
2Q
2013
3Q
2013
4Q
2013
1Q
2014
2Q
2014
3Q
2014
4Q
2014
1Q
2015
DG to
NPL
%
UG to
PL
%
Corporate
167,848
0.00
0.01
0.00
0.00
0.10
-
-
0.06
-
-
-
Commercial
139,370
0.24
0.05
0.10
0.01
0.08
0.04
0.12
0.37
0.13
0.14
0.00
Small
52,247
1.28
0.59
1.05
0.64
0.97
0.70
0.45
0.31
1.29
1.32
0.03
Micro
37,207
1.25
1.10
1.18
0.89
1.16
1.26
1.19
0.83
1.25
1.29
0.04
Consumer
65,356
0.28
0.18
0.17
0.07
0.35
0.20
0.20
0.09
0.28
0.35
0.07
462,029
0.34
0.18
0.25
0.13
0.30
0.21
0.20
0.25
0.33
0.34
0.02
Total
# % downgrades and upgrades are quarterly % figures
31
32
0.0%
2008
0.5%
1.0%
2009
1.2%
1.5%
2010
2.7%
2.0%
2011
0.0%
2.5%
2012
0.3%
3.0%
2013
0.0%
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
4Q'12
3Q'12
2Q'12
1Q'12
4Q'11
3Q'11
2Q'11
1Q'11
4Q '10
3Q '10
2Q '10
1Q '10
4Q '09
3Q '09
2Q '09
1Q '09
4Q '08
3Q '08
2Q '08
1Q '08
4Q '07
3Q '07
2Q '07
1Q '07
4Q '06
3Q '06
2Q '06
1Q '06
4Q '05
5.0
7.0
9.0
11.0
13.0
15.0
17.0
19.0
21.0
23.0
25.0
19.4
18.8
18.6
17.4
20.3
23.1
21.5
22.3
21.7
18.4
16.9
16.2
16.6
16.4
16.2
17.2
17.1
17.1
15.3
15.2
14.3
13.1
13.6
13.5
13.5
14.2
13.9
14.0
11.7
11.7
12.0
12.5
12.6
11.2
11.4
9.9
11.7
14.3
Annualized Relapsed Rate of Restructured Loan Portfolio
2014
0.0%
Restructured Loans
0.0%
Declining Restructured Loans Since 2005
0.0%
2015
Enhancing Synergies & Value from Subsidiaries
Syariah Banking
Investment Banking
Insurance
Niche Banking
Multi-Finance
Bank Sinar
Harapan Bali
Total Assets
Rp67.2 tn
Bond Trading Volume
Rp21.2 tn
Total Assets
Rp22.7 tn
Total Loans
Rp962.0bn
Total Financing
Rp3.7tn
Total Financing
Rp48.8 tn
Equity & FI Underwriting
Rp1.2 tn
Annual FYP
Rp648 bn
Net Interest Margin
10.61 %
Net Interest Margin
3.56%
Total Deposits
Rp59.8 tn
Equity Trading Volume
Rp36.6 tn
ROA
6.12%
ROA
2.22%
ROA
5.51%
ROE
7.92%
ROE
4.8%
ROE
72.3%
ROE
15.28%
ROE
32.66%
• 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 Bank Mandiri’s
network and customer
throughout Indonesia to
develop multi-finance
segment, especially in
vehicle-ownership
financing.
33
34
34.32% YoY
Growth
6.06% YoY
Growth
3.56% YoY
Growth
# Of Policyholders
Net Profit After Tax (in Bn)
Annual First Year Premium (AFYP) (in Bn)
AXA Mandiri Financial Services Performance
3,162,354
2,961,906
2,656,672
2,479,161
2,354,395
2,216,648
2,122,563
2,032,635
1,966,698
1,918,703
1,878,121
1,858,702
1,790,508
1,744,124
1,695,242
1,638,543
1,602,778
1,518,536
892,582
810,604
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
360
308
316
297
348
256
269
270
298
259
262
234
258
255
237
183
171
235
245
90
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
648
648
1,314
832
611
774
726
850
695
667
712
892
796
946
769
742
820
673
549
599
1Q '15
4Q '14
3Q '14
2Q '14
1Q '14
4Q '13
3Q '13
2Q '13
1Q '13
4Q '12
3Q '12
2Q '12
1Q '12
4Q '11
3Q '11
2Q '11
1Q '11
4Q '10
3Q '10
2Q '10
InHealth – Opportunity to Increase Fee Income and
Contribute to the Insurance Portfolio
1,600
1,400
1,200
1,073
1,000
250
1,400
1,410
1,203
200
150
811
800
100
600
400
203
200
36
394
78
47
107
120
203
67
351
50
41
-
0
2009 2010 2011 2012 2013 2014
Profit (Rp Bn)
1,400,000
6,242
1Q
1Q
2014 2015
GWP (Rp Bn)
6,314 6,262
1,200,000
6,094
6,400
6,189
6,086
6,200
1,000,000
6,000
800,000
5,800
5,600
848,997
1,087,313
1,141,896
1,118,206
1,175,240
200,000
692,831
400,000
5,501
1,023,228
600,000
-
5,400
5,200
5,000
2009
2010
2011
Total Member
2012
2013
2014
# of Providers
1Q
2015
Leveraging our institutional, corporate, &
commercial customers
We have over 700 institutional, 300 corporate, and 1,700
commercial customers with the potential to become members
of InHealth
Providing solutions through our banking
products to InHealth healthcare provider
InHealth has nearly 6,000 healthcare providers and recorded
over Rp. 206 billion in claims year to date 2015
Bank Mandiri will leverage the hospital network as InHealth’s
partner to increase transactions through enhanced cash
management products
Bank Mandiri also will provide retail packaged products for
all the doctors as InHealth’s partner
Cross-selling Mandiri products to InHealth
members
InHealth earned premium payments of Rp. 351 billion in 2015
year to date from clients. Going forward, Bank Mandiri will
encourage the use of cash management products through
Bank Mandiri’s distribution channel and cross-sell other
product to over 1.1 million InHealth member
35
Bank Mandiri’s 2015 Corporate Guidance
2015 Target
1Q2015 Realization
Gross Loan Growth (YoY)
15%-17%
13.3%
Low Cost Deposits
Rp 435 tn
Rp 372 tn
>6.05%
5.62%
Efficiency Ratio
IDR 225 Tn
Revenue Market Share: 14–16%
ROE: >25%
Gross NPL: