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PT Bank Mandiri (Persero) TbkFY 2010 Results PresentationResults Presentation
0
Bank Mandiri Presentation Contents
Results Overview Page #
2010 Highlights 2‐3
Loan & Deposit 4 Loan & Deposit 4
Strategy Focus and Progress 5‐6
Deposit Franchise Development 7‐8
High‐Yield Lending Activities 9‐11
Enhancing Synergies & Values from Subsidiaries 12
Balance Sheet Overview 13
Loan Growth & LDR 14‐15
Net Interest Margins 16 Net Interest Margins 16
Summary P&L 17
Asset Quality and NPL Movement 18‐20
Overhead Expense Details 21
CAR, ROE, PAT 22
2010 Guidance 23
Operating Performance Highlights 24‐44
Supporting Materials 46
1
Supporting Materials 46 ‐
Bank Mandiri continues to become Indonesia’s Most Admired Financial Institution
# of Accounts• Deposits 11 mn
# of new Accounts• Deposit 3.2 Mn
# of Outlets• 1 370 branchesDeposits 11. mn
• Loans 957,698 p
• Loans 474,3421,370 branches
• 1,000 Micro branches•6,496 ATMS
e‐Channel Trx• 594 mn in Q3• 14% Growth
# of Cards Issued• Credit 1.98 mn• Debit 8 3 mn
Cash Management • 7,784 Customers17 7 T• 14% Growth • Debit 8.3 mn
• Prepaid 686,224• 17.7 Trx
Retails Loans (1)• Rp 60.7 Tn• 27.7% of Loans
Subsidiaries Income•Total Rp 1.1 tn•Sum of income of 5
Alliances• Total Card From Alliances 129,633 cards
2
subsidiaries) •Payroll Loans 168,161 tn
(1) Small Business, Micro and Consumers
Key Financial Highlights
Bank Mandiri’s 12‐Month 2010 Performance continued to demonstrate marked improvements in several key indicators:
FY ‘09 FY ‘10 %
Loans Rp198.5 tn Rp246.2 tn 24.0%
Net NPL RatioGross NPL Ratio
0.42%2.79%
0.62%2.42%
47.6%(13.3%)
Low Cost Funds Ratio[Low Cost Funds (Rp)]
58.4%Rp186.5 tn
55.8%Rp202.0tn
(4.5%)8.5%
NIM 5 04% 5 28% 4 8%NIM 5.04% 5.28% 4.8%
Efficiency Ratio 44.6% 42.0% (5.8%)
Earnings After Tax 7,155 bn 9,218bn 28.8%
*) Excluding Adjustment, NIM was 5.24%
Maintaining momentum for growth
Y‐o‐Y
Y‐o‐Y
Loans by SBU*(Rp Tn)
Deposits by Product – Bank Only(Rp Tn)
24 7%169 4tn 211 3tnTotal Total 299 7tn 332 7t 11 0%
21 4 18 116.5
14.9 11.211.2 10.5
11.9
260280300320340 FX Time Rp Time
FX Demand Rp DemandFX Savings Rp Savings
19 3
20.5
22.7
5 6
6.0
6.5
7.3
170180190200210220
Micro Small Cons Comm Int'l Corp
(20.3%)
22.4%
35.8%
32.7%
30 2%
24.7%169.4tn 211.3tnTotal Total 299.7tn 332.7tn 11.0%
21.073.4
95.791.9
97.9101.5
108.5113.7
118.3 114.4
132.8
15.9
21.416.2
18.1
180200220240260
57 563.819.3 19.7 20.6
21.723.6 24.7
26.728.6
30.7
14.8 14.115.5
16.317.1 17.7
19.3
4.4 4.64.8
5.15.4 5.6
120130140150160170
16.5%
30.2%
30.0%
4 7 7.4 8 2 8.3 8.79.7
9.9 10.8 11.611.750.4 51.8
43.045.4 43.7
51.845.8 45.0 37.7
43.59.815.1
19.517.5 20.3
18.021.2 22.0 21.7
80100120140160
4.4 4.4 4.4 4.2 4.5 0.20.4 1.3 1.4
31.5
41.6 40.6 41.9 43.6 49.1 49.153.1
57.5
14.2
13.12.7
60708090
100110
%
(16.0%)(68.6%)
20.6%
81.5 82.2 77.2 82.8 87.3 96.8 89.5 94.7 100.0 111.9
4.7 7.4 8.2 8 3
020406080
44.862.0 64.1 65.8 68.8 69.8 74.5 80.7 84.2 85.42.8
0102030405060
15.6%22.3%
4
Q4'07 Q4'08 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'100
Q4'07 Q4'08 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10
*Loans from Treasury & International have been reallocated to Corporate following the reorganization in early 2010
Strategy focus on 3 areas of highest potential:Wholesale Transactions, Retail Payments & High Yield Loans
Strengthen leadership in wholesale transaction
Build #1 or #2 positions in key retail financing
Be the retail deposit bank of choice
Pillar 1 Pillar 2 Pillar 3
wholesale transaction banking Comprehensive financing & transaction solutions
Holistic relationship
key retail financing segmentsWin in mortgage, personal loan & cards Become a major player in
of choiceWin through differentiated customer experience and targeted propositions
Deploy innovative paymentHolistic relationship approach for leading Indonesian institutions
Become a major player in micro‐banking Champion Syariah in Indonesia
Deploy innovative payment solutions
• Total Wholesales Fees • Total Retail Fees of Rp • Total Retail Loans ofTotal Wholesales Fees Rp 2.0 tn
• Total Wholesale Low Cost Deposits Rp 53.6 Tn
Total Retail Fees of Rp4.2 Tn
• Total Retail Low Cost Funds Rp 134.4 Tn
Total Retail Loans of Rp 60.7 Tn
• Assets Spread Rp. 4.7 tn
5
Tn
* Excluding collection extracomptable
Balanced Earnings from All Business Units
NII (Net Interest Margin)
(Rp bn) % of Total
Fee Income
(Rp bn) % of Total
Asset Spread
(Rp bn)
Liabilities Spread
(Rp bn)
18.73%
21.86`%
19.54%
9.7%
4.71%
11.03%
2,590
2,701
3,655
Corporate + Institutional
Comm &
493
1,189
2,782
2,098
1,512
873
423
477
396
29.79%
5.55%
11.93%
22.51%768
5,221Business Banking
Treasury, FI & SAM ^^
559
4,233
209
988
973
1003
5.56%
47.97%
31.28%
36.72%
48.37%
36.64%
6,632
982
5,479
& SAM ^^
Micro & Retail *
859
948
1095
5,773
34
4,384
2,091
3,087
3,080
8.21%
12.49%
8.3%
9.9%
1135
5,479
2,188
Consumer Finance
1075
2,179
60
,
8
359
,
840
6*MRB in 2008: still includes Business Banking ^^ Treasury in 2008 inc Int Branches, exc SAM ’10 inc SAM & Cayman
FY '08 FY '10 FY '08 FY '10 FY '08 FY '10 FY '08 FY '10
Deposits rose 12.5% Y‐o‐Y in 2010
Rp Savings Deposits FX Savings DepositsRp Demand Deposits FX Demand DepositsRp Time Deposits FX Time Deposits
Deposit Analysis – Bank Only
15% Rp DD Rp SavingsRp TD 1 Mo. SBIs
Average Quarterly Deposit Costs (%)
32.9%31.4%33.8%
54.1% 52.9%57.2% 57.0% 58.8% 57.1%
56.5%Low‐Cost Deposits (%)
340
11.44%
9.90% 9.26% 9.55%
8.70%8.1%
11.86%
10.41%
8.20%7.97%
8.25%
9.24%
10.85%
9.09%
10%
10
11 1
132.8
21.416.2
18.116.5
14.911.211.210.5
11.9
240
260
280
300
320
340
3.47%3.00%
2.50% 2.53%2 15%
2.75%
3.76%
4.23%3.41% 3.5% 3.32% 3.48%
3.09%
2.46%2.46%
4.78%4.70%
3.60%3.24% 3.00%
3.32%2.84%
2.49% 2.7% 2.64%
6.90%6.78%
6.29%
7.41% 7.17%6.50% 6.53% 6.91%
6.66%
7.37%
6.6%
6.47% 6.41%6.24%
6.33%6.25%5%
51 4 4 37
43.59.8 15.119.517.5
20.318.0
21.222.0 21.721.0
6
93.
80.5
73.4
95.7 91.9
97.9
101.5
08.5
113.7
18.3
114.421.5
23.420.617.311.6
15.712.6
15.9
140
160
180
200
220
240 2.15%2.15% 2.16%2.20%
0%
6%
FX DD FX TD
1 2 2 4 5 4 5 8 8 7 8 8 9 8 9 10 11
3.54.1
4.7 7.4 8.2 8.3 8.79.7 9.9 10.811.6
11.7
31.
31.2
24.8
28.8
28.0
30.1
33.6
50.4
51.8
43.0
45.4
43.7
1.8 45.8
5.0
7.7
11.911.49.1
87.8
106.9
100.7
80.5
66.5
.2
40
60
80
100
120
2.12% 2.03% 1 79% 0 87% 0.91%
2.57%
4.02% 3.87%
2.86%
3.73%
3.32%2.99%
1.94%
0 46%
2%
4%
6%
18.0
22.1
29.6
40.6
52.0
45.2
57.6
81.5
82.2
77.2
82.8
87.3
96.8
89.5
94.7
00.0
11.9
1 2
0
20
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
7
1.45%1.79% 0.87% 0.91%
0.59%0.15% 0.14%
0.47%0.46%
0%
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
…through enhanced transaction capabilitiesQ t l T ti V lQuarterly Transaction Volume
(Mn)
148.1
170
ATMBranch 106.8
107.5
120 12,000 Debit Cards
Quarterly Transaction Value (Rp tn) Quarterly Users (000s)
112.3122.9
132.3150.0
120
145 SMS BankingInternet Banking
77 1
87.7 95.592.7
97.1
80
100
8,301
9,2409,950
8,0598,116
8,348
8 000
10,000
72.971.6
84.7
91.9115.0
95
52.0
66.9
70.1
77.1
60
80
5,368
6,178
7,162
7,202
7,5657,666
5 8206,219
6,552
7,035
6,000
8,000
35.433 439.639.1
44.4
42.3 41 9
52.451.853.8
31 8
45
70
36.536.7
46.3
52.0
40
ATMSMS Banking 2,704
3,251
4,0074,793
5,116
5,820
4,000
33.441.4
41.9
10.6 11.615.118.018.1
25.8
33.539.6
2 1 2 7 4 2 6 18.3
16.5
28.331.8
20
0 4 0 4 0 7 0 9 1 5 1 31.4 2.1 2.6
2 90.7 1.3 1.9 2.5
4 04.87.1
8.79.911.7
20
SMS BankingInternet Banking
1,702
2,134
2,704
7839071,0891,2141,253
1,3041,3922,000
8
1.0 1.4 2.1 2.7 4.2 6.1(5) Q
2 '06
Q4 '06
Q2 '07
Q4 '07
Q2 '08
Q4 '08
Q2 '09
Q4 '09
Q2 '10
Q4 '10
0.4 0.4 0.7 0.9 1.5 1.3
2.72.93.2 4.04.8
0
Q2 '06
Q4 '06
Q2 '07
Q4 '07
Q2 '08
Q4 '08
Q2 '09
Q4 '09
Q2 '10
Q4 '10
399 511613783
907
0
Q2 '06
Q4 '06
Q2 '07
Q4 '07
Q2 '08
Q4 '08
Q2 '09*
Q4 '09
Q2'10
Q4'10
* Inactive cards have been purged
Building our high yield business in Micro & Small…
1,920
Micro Credits(Rp Bn)
24.0%
6,500
13.80%
Consumer Loans(Rp Bn)
5,786
Small Business Credits(Rp Bn)
LoanYields
13.1%
917 707
4,464
6,594
35.8.%
20,604
27,10431.55%
16,896
22,68234.25%
Micro
BPR/Rural
FY 2009 Growth FY 2010
Disbursement Breakdown (FY2010)
FY 2009 Growth FY 2010
Disbursement Breakdown (FY2010)
FY 2009 Growth FY 2010
Disbursement Breakdown (FY2010)
*Excluding Credit Cards
0
2,453
3,723
151693
962
6,836 7,190
5,306
1,253 12,735
5,740
7,546
354Rural Banks Micro Unsecured Micro TOTAL Mortgage Home
Equity LoanPayroll Loan Other Total
Non‐Prog
Program
Coops
Cash Coll
TOTA
L
9
…as well as Consumer lending, which rose 30.09% Y‐o‐Y on Mortgages, Credit Cards and Vehicles
Other Auto
h ll l d dGrowth (%)
Quarterly Consumer Loan Balances by Type Consumer Loan Growth by Type
Rp30.69 tn
2,2
2,826
1
1,214
1,325
1,393
27,500
30,000
Cash Collateral Loans Credit Cards
Payroll Loans Home Equity Loans
Mortgages
Loan Type( )
Y‐o‐Y Q‐o‐Q
Other 52.27% 5.18%
4,
4,98
5,194
5,428
2 2, 2
2,45
2,754
2,989
2,973
3,239
3,372
3,589
1,067
1,376
1,476
1,704
17
452
563
564
572
615
691
915
1,063
17 500
20,000
22,500
25,000 Auto Loans* 105.45% 27.46%
Credit Cards 20.07% 6.43%
3,
3,70
3,761
3,721
3,697
3,704
3,699
3,753
3,822
3,890
3,941
3,957
1 2,
3,010
3,192
3,658
3,999
3,993
3,983
4,099
4,252
4,541
,719
85
1,367
1,293
1,908
1,926
2,008
2,113
,223
251
52
888
1,544
47
59
82
245
290
10,000
12,500
15,000
17,500Payroll Loans 19.53% 4.50%
Home Equity Loans 5.47% 0.42%
M t 34 71% 7 20%
1,52
3,050
3,610
5,382
6,393
7,199
7,717
8,052
8,376
8,814
9,193
10,017
10,681
11,626
12,593
13,500
328
2,852
4,131
3,666
3,437
,612
02 1 1
1,802
1,921
,930
285
815
1,270
494
816
21
0
2,500
5,000
7,500Mortgages 34.71% 7.20%
Total Consumer 30.09% 7.16%
10
283
223280
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
…into Fee‐based Income
Non‐Loan Related Fees & Commissions FY‐2009 Q3‐2010 Q4‐2010 FY‐2010
FY %(Y‐o‐Y)
Q4 %(Q‐o‐Q)
Breakdown of FY 2009 & 2010 Non‐Loan Related Fees & Commissions (Rp bn)
Administration Fees 1,358.63 452.56 493.21 1,707.47 25.7% 9.0%
Opening L/C, BG & Cap Market (custodian & trustee)
519.36 123.98 141.09 536.72 3.3% 13.8%
Subsidiaries 578.32 341.67 168.20 747.41 29.2% (50.8%)( )
Transfer, Retail Transaction 567.98 190.40 190.47 700.69 23.4% 0.0%
Credit Cards 601.11 202.99 219.36 751.73 25.1% 8.1%
Mutual Fund, ORI & Bancassurance 148.97 54.40 62.40 196.57 32.0% 21.4%,
Syndications 72.59 15.87 34.38 78.45 8.1% 116.6%
Payroll Package 55.14 17.92 17.51 65.54 18.8% (2.3%)
Others 409.14 44.22 106.61 317.26 (22.5%) 141.1%
Total 4,311.23 1,441.00 1,433.24 5,101.84 18.3% (0.5%)
Total Operating Income 23,021.02 7,772.01 7,410.69 28,214.90 22.6% (4.6%)% of Non Loan Related fees to total operating income
18.73% 18.54% 19.34% 18.08% (3.4%) 4.3%
11
p g
* 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
Enhancing synergies & values from subsidiariesInvestment BankingInvestment BankingSyariah BankingSyariah Banking InsuranceInsurance Niche BankingNiche Banking
Bank Sinar
Multi‐FinanceMulti‐Finance
Total Assets
Rp32.48 tn
Bond Trading Volume
Rp40.4 tn
Total Assets
Rp8.49 tn
Total Loans
Rp599.2 bn
Total Financing
Rp4,549 bn
Total Financing Equity & FI Underwriting Annual FYP Net Interest Margin Net Interest Margin
Harapan Bali
Total Financing
Rp23.97 tn
Equity & FI Underwriting
Rp10.3 tn
Annual FYP
Rp 2,224 bn
Net Interest Margin
10.44%
Net Interest Margin
5.08%
Total Deposits
Rp28.99 tn
Equity Trading Volume
Rp69.2 tn
Fee Contribution
Rp241.861 bn
ROA
2.49%
ROA (Before Tax)
4.72%
ROE ROE ROE ROE ROE (After Tax)ROE
25.05%
ROE
14.4%
ROE
100.10%
ROE
11.94%
ROE (After Tax)
19.82%
• Remain the leader in • Expansion of business to • Provide end‐to‐end • Enhance operating •Use Bank Mandiri’s syariah financing
• Capital injection program over 3 years
• Cross‐sell syariahproducts to Mandiri
fully utilize current capital base
• Cross‐sell capital market services to broad range of Mandiri customers
bank assurance business
• Continue to build cross‐sell opportunities in various segments
• Bank assurance
model
• Improve risk management systems and IT
• Improve productivity
network infrastructure throughout Indonesia to develop multi‐finance segment, especially in vehicle‐ownership fi i
12
customers • Refocus business toward higher fee income
products complete our suite of consumer offerings
financing.
Strong and liquid balance sheet, FY 2010
Assets Amount% of Assets
Liabilities Amount% of Liab.
Cash 9,521 2.10% Current Account 68,372 15.20%
SBI & Pl t ith BI 24 856 5 48% S i 133 685 29 72%
(Rp Bn, Bank Only)
SBI & Placement with BI 24,856 5.48% Savings 133,685 29.72%
Placement with other banks 37,621 8.30% Time Deposits 160,581 35.70%
Government Bonds 78,092 17.23%
Marketable Securities 27,496 6.07% Total Deposits 362,639 80.63%
Loans (Gross) 244,026 53.83%
Provisions of Loans (11 481) (2 53%) Securities Issued 1 491 0 33%Provisions of Loans (11,481) (2.53%) Securities Issued 1,491 0.33%
Reverse Repo 8,980 1.98% Deposits from other banks 7,202 1.60%
Other Provisions (3,561) (0.79%) Borrowings 5,634 1.25%
Other Interest BearingOther Advances 9,883 2.18%
Other Interest Bearing Liabilities
4,741 1.05%
Investments 7,219 1.59%Non Interest Bearing Liabilities
26,522 5.90%
Deferred Tax Assets 5 466 1 21% Equity 41 542 9 24%
1313
Deferred Tax Assets 5,466 1.21% Equity 41,542 9.24%
Other Assets 11,651 2.57%
Total 449,774 100.00% Total 449,774 100.00%
LDR was to 67.6% on loan growth of 24%…
65.0%62 2%
66.3%71.7%67.6%
Loans (Rp tn)
LDR (%)76.4
78.8 79.782.0 82.7 82.9
88.792.8 93.6Corporate
CommercialSmallMicro
Quarterly Loan Data – Consolidated Quarterly Loan Segment Details – Bank Only
35.4%
42.5%
53.7%57.2% 59.2%
63.2%62.2%
62.8% 64.1%
40.2 38.242.3
44.7
53.6 55.4
68.7
35.732 6
35.5
41.243.8 42.6 43.6 45.3
50.6 50.454.2
58.664.7
Consumer
43.048.365.475.994.4106.9117.7138.5135.5149.6162.8174.5175.2181.6188.3198.5201.9218.0231.9246.2
26.3% 22.2
31.4 32.6
7.610.2
13.1 13.815.1 14.4 15.8 16.617.418.0
19.720.722.8
1.7 2.7 2.9 4.0 4.4 4.6 4.8 5.15.4 5.6 6.0 6.57.3
1.5 3.78.5 10.7 11.1
15.818.7 19.3 19.7 20.6 21.7 23.6 24.8 26.7
28.630.7
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
By Segment (Bank only)
Loans(Rp tn)
Y‐O‐Y Growth (%)
% of Portfolio
7.9% 6.40%
15.7% 20.0%
23.15%Corporate 93.55 13.07% 42.718%
Commercial 64.70 27.98% 29.54%
Small 22.77 30.75% 10.40%
Micro 7 31 35 76% 3 34%
14
3.7%
QoQ Growth (%)
YoY Growth (%)
Micro 7.31 35.76% 3.34%
Consumer 30.70 30.12% 14.02%
Total 219.03 21.90% 100.00%
As of Dec 2010; Non‐consolidated numbers
Rp24.8 tn in loans disbursed in Q4 2010
24 788.96 3.68 0.35 0.76
Loan Movement (Rp tn) – Bank Only Loan Disbursement by Segment (Rp tn) – Bank Only
2.38
3.58207.31
24.78219.03
3.15
8.6024.78
7.08
Corporate Commercial Small Micro Cons Fin Total
15
Q3 '10 Disburs. Install. Payment FX Impact Write‐Offs Q4 '10
Q4 NIM of 5.8% on high Yield on Assets
13.00%
Yield on AssetsCost of Funds
Quarterly Net Interest Margins* Quarterly Yields & Costs by Currency*
18.3%20%
IDR13.00%
11.01%
9.4%9.8%
11.9%
12.8% 13.1%
12.7%10.58%
7.2% 7.3%8.3%6 6%
6.2%
10%
15%
8.91%9.1% 9.64%
7.31%
6.6% 6.3%
4.4%
0%
5%
Avg Loan Yield Avg Bond Yield
5.1%
NIM 4.83%
5.48%4.8%
4.0%3.9%
3 83%
11.8%
5 8% 7 24%
10%
15%
g gAvg 1‐Mo. SBI Avg COF
FX
2.4%3.9%2.8%3.7%4.3%3.6%4.9%4.7%5.1%5.5%6.0%5.4%5.5%5.3%4.9%5.3%5.1%5.2%6.0%5.8%
3.83%7.3% 6.6% 6.8%
5.8%
5.2% 5.0%
7.24%
0.3%0.3% 0.3%
2.31%3.39% 3.03% 2.1%
0.7% 0.8%
0%
5%
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
16
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
Strong Revenue Growth
Summary P&LFY 2009 FY 2010 Y‐o‐Y
Rp (Billions) % of Av.Assets* Rp (Billions) % of Av.Assets (%)
Interest Income 32,599 17.8% 33,931 16.3% 4.1%
Interest Expense (15,822) (8.6%) (14,431) (6.9%) (8.9%)
Net Interest Income 16,777 9.1% 19,518 9.4% 16.3%
Other Operating Income :
• Other Fees and Commissions 4,311 2.3% 5,102 2.5% 18.3%, ,
• Foreign Exchange Gains – net 637 0.3% 595 0.3% (6.6%)
• Others *** 717 0.4% 3,023 1.5% 321.6%
Gain from Increase in Value & Sale of Bonds ‐ ‐ ‐ ‐ ‐
i i ( ) ( %) ( ) ( %) %Provisions, Net (1,996) (1.1%) (2,951) (1.4%) 47.8%
Personnel Expenses 4,854 (2.6%) 5,802 (2.8%) 19.5%
G & A Expenses 4,325 (2.4%) 5,468 2.6% 26.4%
Other Operating Expenses** (833) (0.5%) (828) (0.4%) (0.6%)
Profit from Operations 10,434 5.7% 13,742 6.6% 31.7%
Non Operating Income 390 0.2% 230 0.1% (41.0%)
Net Income Before Tax 10,824 5.9% 13,972 6.7% 29.1%
Net Income After Tax 7 155 3 9% 9 218 4 4% 28 8%
17
Net Income After Tax 7,155 3.9% 9,218 4.4% 28.8%
* % of Average Assets on an annualized basis** primarily premiums paid under the blanket guarantee scheme*** including collection from written off loans IDR 1,007 bn
Gross NPLs 2.4% , coverage at 192% ‐ Category 2 loan declined to 9.9%
20,000 50%
Cat 2 %
NPL Movement ‐ Consolidated Category 2 Loans – Bank Only
14 000
16,000
18,000
35.7%
40%
25.2
190.4%
219.1%
206.0%
192.4%
10,000
12,000
14,000
26.2%24.8%
30%19.80%
28%1
146.7%
129 5%139.1%
128 8%116.0%
138.9% 136.1%
6,000
8,000
9 2%
15.0%
9 4%
12.9%
15.5%
11.9%11.5%10.0%9 2%
10.2% 9 7% 9 0%
20%
9.70 8
16.34%
70.0%
129.5% 128.8%
4,03315,35012,65516,20210,9838,33412,91216,96615,14814,05813,45113,50215,41216,33215,89518,14817,50617,41717,47917,498 15,758
0
2,000
4,0009.2% 9.4% 10.0%9.2% 9.7% 9.0%
8.4%7.2%
0%
10%
0% 7.30%.60% 7.10%
7.17% 5.14%4.74%4.44%4.73%
5.85%4.78%3.79%2.79%2.56%2.54%2.60%2.42%
15.3%
0 56% 0.55%
70.0%
44.4%
0
Q4 '99
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
2 ‐ Special Mention Loans (Rp Bn)
0%
18
0.56% 0.55%Q4 '99
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
Gross NPL Ratio Net NPL Ratio Prov/NPL
Stable NPLs across the segments
NPLs(Rp tn)
Q4(Rp tn)
NPLs(%)
Corporate 1 81 0 34 1 93%
Non‐Performing Loans by Segment
1,000
Cons
Movement by Customer Segment (Rp Bn)
Corporate 1.81 0.34 1.93%
Commercial 1.53 (0.23) 2.36%
Small 0.59 (0.16) 2.59%
Micro 0.34 (0.10) 4.68%111 5750
Cons
Micro/Small
Comm
Corp
Consumer 0.64 (0.08) 2.11%
Total 4.92 (0.23) 2.21%*
Methodology for Impairment:
* Excluding Restructuring Losses and loans to other banks.
281.4
111.5
163.0
Methodology for Impairment:Bank Mandiri has established criteria for decrease in value based on Loan Segmentation:
Individual Impairment
1. Corporate and Commercial customer segments with objective id f d i l
90.5 329.8
69.3 500
evidence of decrease in value.2. Outstanding loan balances of more than Rp5 billion for other
segments which have objective evidence of decrease in value3. Restructured loans for Corporate and Commercial customer segments4. Restructured loans with outstanding balances of more than Rp5 billion
for other segments which have objective evidence of decrease in
336.3
341.3
256.2
250
19
for other segments which have objective evidence of decrease in value.
Collective Impairment
1. All segments excluded from individual impairment2. All restructured loans excluded from individual impairment
-56.4
11.1 0 UG to PL DG to NPL W/O
Q4 2010 annualized net downgrades of 0.49% on loans originated since 2005.
Total Loans originated since 2005
Net Upgrades (%)/Downgrades (%) # Q4 2010 Detailspg ( )/ g ( ) Q
Loan Background
Q4 ‘10 Balance (Rp bn)
Q42008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010
DG to NPL%
UG toPL%
Corporate 79,009.36 0.48 1.05 1.15 ‐ 0.03 0.28 0.17 0.18 0.05 0.05 ‐
Commercial 56,674.76 1.05 0.78 0.03 0.21 0.04 0.51 0.27 0.13 0.04 0.32 0.36
Small/Micro 26,256.17 1.20 1.06 1.00 1.19 0.84 1.36 0.86 1.20 0.68 0.98 0.30
Consumer 29,548.78 0.13 0.49 0.27 0.30 0.11 0.40 0.33 0.35 0.14 0.35 0.20
l 0 6 0 91 0 38 0 2 0 12 0 0 0 32 0 33 0 12 0 30 0 18Total 191,489.07 0.65 0.91 0.38 0.25 0.12 0.50 0.32 0.33 0.12 0.30 0.18
20
# % downgrades and upgrades are quarterly % figures
Q4 Cost to Income Ratio at 45.1%
83.3%CIR* (%)Annual Avg CIR (%)
Dec ‘09 Q3 ‘10 Q4 ‘10 Dec ‘10
Growth (%)
QoQ YoY
Breakdown of 2009 & 2010 Operating ExpensesQuarterly Consolidated Operating Expenses & CIR*
54.3%
41.1% 40 6% 39 3% 39 0%45.1%42.3%
0 %
QoQ YoY
Personnel Expenses
Base Salary 1,532 452 370 1,641 (18.2%) 7.1%
Other Allowances 2 081 656 640 2 510 (2 4%) 20 6%
1,309 1
1,328
1,37
1,485
1,612
% 40.6%
35.1%39.3% 39.0% 38.1%40.1%
40.2%
Other Allowances 2,081 656 640 2,510 (2.4%) 20.6%
Post Empl. Benefits* 385 130 90 402 (30.4%) 4.2%
Training 207 58 100 265 71.3% 28.3%
Subsidiaries 649 213 411 984 93.5% 51.8%
1,241
869 1,005
1,158
1,165
1,197 1,116
1,390
1,019
1,306
75 Total Personnel Expenses 4,854 1,510 1,612 5,802 6.8% 19.5%
G & A Expenses
IT & Telecoms 702 170 165 703 (2.6%) 0.1%
Occupancy Related 1,168 335 443 1,381 32.1% 18.2%
842
1,016
993
769
1,034
916
1,148
827
1,004
1,110
1,384
1,051
1,265
1,459
1,682
p y 1,168 335 443 1,381 32.1% 18.2%
Promo. & Sponsor. 642 222 323 903 45.7% 40.7%
Transport & Travel 309 84 124 364 48.1% 17.7%
Prof. Services 462 124 196 560 58.9% 21.1%
Employee Related 450 174 155 596 (11.4%) 32.3%Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
G&A Expenses (Rp bn) Personnel Expenses (Rp bn)21
Subsidiaries 590 362 277 961 (23.5%) 62.8%
Total G & A Expenses 4,325 1,470 1,682 5,468 14.5% 26.4%
*Excluding the impact of non‐recurring interest income & bond gains *VSS costs moved to Employee‐Related in G&A in 2009
ROE continues to increase, supported by strong Capital
31 3% CAR*
IDR bn
Capital & RWA Movement Profit After Tax & ROE
21 5%
26.2%23.6%
22.8% 24.4%RoE ‐ AT
1
242.4
31.3%
26.4%27.7%
25.3% 25.3%
CAR
2,833
Q4 PATQ3 PATQ2 PAT
21.5% 22.8%
10.0%
15.8%18.1%22.1%
13
172.9
95.823.4% 23.7%
21.1%
1,4
1,
2,352
819
775
1,
1,390
2,536
Q1 PAT 2.5%
72
91.9
108.9
115.9
112.2
34.0
15.7%14.7%
690
1,329 1,
1,22
1,52 6
2,031
967
1,017
1,528
408
1,040
1,345
693
645 799
1,2
166
42.6
58.1
.5
13.3
15.4
17.0
25.5
27.5
27.4
28.4
28.3
27.2
30.5
35.7
308
1,168
1,549
1,744
519 510
1,027
1,390
1,400
2,003
1,300
602 690
97 305
113
1
6 967
610 372
(623)
34
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
RWA (Rp tn) Total Capital (Rp tn)
(623)
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
22* Credit Risk Only; CAR inclusive of Market & Operational Risk is 13.36%
On Track to Achieve Our 2010 Targets
Target FY 2010Gross Loan Growth (YoY) 15-18% 24%Savings Deposits > Rp110 tn Rp 133.68 tnNet Interest Margins ~ 5 35% 5 28%Net Interest Margins ~ 5.35% 5.28% Efficiency Ratio ~ 45% 42.0%Gross NPLs < 4.0% 2.42%Provisioning Coverage > 150% 192%New Distribution Infrastructure Targets:
# of New ATMs 2 500 2 500# of New ATMs 2,500 2,500# of New EDCs 25,000 13,608# of New Micro Outlets 500 500
23
Operating p gPerformance Hi hli hHighlights
24
Committed to Improving Shareholder Value
Reduce Cost of Funds
Improve Assets YieldBusiness Strategy Improve Assets Yield
Diversify into Fee Income
Business Strategy
Reduce Provision/Loan
Improve Cost Efficiency
Competitive,sustainable returns, with Support Strategy
above‐averagerates of growth
Leverage on cash generator (wholesale) to accelerate growth
Diversity into fee income
Strategic Alliances
25
Building a strong savings deposit franchise…
Savings Deposits (Rp tn)
As % of Total Deposits
National Share of Savings Deposits (%)
Savings Deposit Growth Transaction channel growth
73 277.6 76 0
Other
Payment National Share of Savings Deposits (%)
29 339.1
55.0
84.797.4
106.6116.7
131.4129.9136.5143.2147.5
29 837.4
49.6
55.861.6
63.267.2
73.0 71.9 73.2 76.0Transfer
Withdrawal / Inquiry
Avg ATM Daily Vol (000)
30.6%29.2%
34.6%32.8%33.4%
33.7%34.5%
35.5%
34.1%
34.9%37.7%
37.1% 492.1
607.5
677.0
853.4
1,043.4
1,100.5
1,158.9
1,230.6
1,315.4
1,293.3
1,321.8
1,380.5
1,357.4
19.629.3
30.829.8
16.2%
22.8% 22.7%
12.8%
16.9%17.5%16.0%17.2%
18.5%18.0%17.3%
17.8%
17.9%17.6%
17.3%
17.3%
17.1%3 009
2,955
3,1652,780
2,8222,9763,335
3,4543,216Quarterly Call Center Trans. (000)
17.9622.1229.5940.5052.0045.2057.6081.5489.6185.3991.1195.95
106.4599.38
105.50111.59123.50
11.0%11.7%
11.6%
15.3%
1,0693,072
6,988
11,575
16,974
22,328
25,819
33,502
39,569
42,546
44,512
47,705
51,751
53,817
27 6791,0161,086
1,7222,988
3,009
Q4
Q4
Q4
Q4
Q4
Q4
Q4
Q4
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q46 2 9 0 0 0 0 4 1 9 1 5 5 8 0 9 0
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2'10
Q3'10
Q4'10
26
4 '00
4 '01
4 '02
4 '03
4 '04
4 '05
4 '06
4 '07
4 '08
1 '09
2 '09
3 '09
4 '09
1 '10
2 '10
3 '10
4,10
Diversifying our strength in Wholesale lending…Breakdown of Net Expansion in Corporate LendingQ4 ’09 – Q4 ’10 (Total Rp10.81 tn)
2 686
5,980
Mi i Oil & G
Plantations
%
55.4%
37 2%
Breakdown of Net Expansion in Commercial LendingQ4 ’09 – Q4 ’10 (Total Rp14.15 tn)
2 101
2,300
B S
Trad‐Distr
%50.2%
30 9%
1,454
1,628
2,025
2,686
Others
Bus Serv
Electricity
Mining‐Oil & Gas 37.2%
85.3%
27.1%
58.9% 1,419
1,612
1,827
2,101
Plantations
Mfg‐Metal
Mfg‐Chem
Bus Serv 30.9%
41.4%
147.8%
29.3%
408
455
902
1,302
Trad‐Distr
Soc Serv
Mfg‐Metal
Trad‐Ret 144.3%
104.4%
156.2%
33.0% 797
862
911
1,139
Mfg‐RawM
Mfg‐P&P
Mass Trans
Mfg‐F&B 32.3%
27.9%
46.4%
76.6%
(387)
(263)
246
393
Mfg‐P&P
Mfg‐oth
Trad‐oth
Roads & Bridge 37.8%
16.0%
‐6.3%
‐14.7% 288
442
495
751
Others
Trad‐oth
Utilities
Mining 44.9%
108.4%
11.8%
20.2%
(1,653)
(1,058)
(773)
(765)
Constr‐oth
Trans
Mfg‐Text
Mfg‐F&B ‐4.8%
‐27.3%
‐10.0%
‐43 1% (38)
(20)
5
140
Soc Serv
Trans‐oth
Mfg‐oth
Agri‐oth 14.7%
0.1%
‐6.9%
‐8.8%
27
Rp Billion(1,770)
(1,653)
(4,000)
(3,000)
(2,000)
(1,000)
0 1,000
2,000
3,000
4,000
Mfg‐Chem
‐43.1%
‐22.6%Rp
Billion (884)
(38)
(2,800)
(2,200)
(1,600)
(1,000)
(400)
200
800
1,400
2,000
2,600
Constr
Soc Serv 8.8%
‐17.4%
Progress on selected debtors as of 31 Desember 2010
Industry : Textile / Spinning The obligor was unable to fulfill its obligation due to inefficient production
capacity
Fiberindo Inti Prima capacity.
The obligor has settled its loan at October 2010, with the amount of Rp. 93,6 billion.
Inti Prima
Intikeramik Alamasri Industri
Industry : Porcelain floors / ceramics. Total outstanding as of 31 December 2010 was Rp. 295 million. The obligor was unable to fulfill its obligation due to decrease in customer
demand since 2008 global economic downturn. Cash collection with the amount of Rp. 52,8 billion has been done at December
2010.
K liKalimantan Energi Lestari
Industry : Coal Mining. The obligor was unable to fulfill its obligation due to inefficient production
capacity. The obligor has settled its loan at November 2010, with the amount of USD. 29
28
million.
…and innovative payment solutionsPre‐Paid Card Volume (000s)
315.0
353.0
335
360
1,030.0
1,152.0
989 0
1,198.01,200
Indomarete‐TollGaz
Pre‐Paid Transaction Volume (000s) Cash Management Users
225 0
259.0
293.0
235
260
285
310
Indomarete‐TollGaz
890.0
989.0
800
1,000 Gaz
148.8
225.0
150.0159.0163.0
172.0183.0
160
185
210
235
582.4
688.2
600 6,153
7,784
90.2
148.8
98.0111.0
129.3
85
110
135
160 467.9
339.2400
4,066
57.7
35.7
58.0
14.7 14.7
34.0 35.0 36.0 37.943.0 45.045.0
10
35
60
105.5
211.6207.7
122.0
209.0165.0
1.1 1.7 8.8 3.8 2.6 3.6 5.5 7.00
200
745
2,414
29
(15)
Jun‐09Jul‐09Aug‐09
Sep‐09Oct‐09
Nov‐09
Dec‐09
Jan‐10Feb‐10Mar‐10
10‐Apr
Mei 10
Jun 10Jul 10Agt 10
Sept 10Oct 10
Nov 10
Dec10
0
Jul‐09Aug‐09
Sep‐09Oct‐09
Nov‐09
Dec‐09
Jan‐10Feb‐10Mar‐10
Apr‐10
Mei‐10
Jun‐10Jul‐10Agt‐10
Sep‐10Oct‐10
Nov‐10
Dec‐10 2006 2007 2008 2009 2010
• Decline through March 2010 due to Data Cleaning to identify only active customers
Mandiri Tunas Finance: Total Financing Rp 4.5 Tn
Rp bn
Total Booking and the Break Down for Joint Financinng and Non JF
Breakdown of Financing Program for 2010
1. Total 10 new additional Dealers with MoU
Non JF JF
37
2
New Car Used Car Motorcycle
556 Dealers with MoUCooperated
2. 5 used car cluster of stock financing: kemayoran, Surabaya I Surabaya II14
5 213
396412
469
129
04
129
128
114
29
36
46
36
30 32
502 514
Surabaya I, Surabaya II, Banding, Matraam
3. Implementation Referral program at JNK and RNK
113110161
154
1
244
249
396
93
71 342 390
367
116 98
95 97 92
117 118 10
17 21
23 23 27
4. Additional 39 MTF network in 2010
5. 101% lending Achievement 20107 86
308
8 357
343
70
121
117
160 144 84
1
117
132
156
164
157 21
8
242 29 27
10 10 10 10 10 10 10 10 10 10 10 10 2010
128
134
113 139 190 237 2 3
258
27
Jan 1
Feb 1
Mar 1
Apr 1
Mei 1
Jun 1
Jul 1
Agt 1
Sept 1
Oct 1
Nov 1
Des 1
30
Jan 10
Feb 10
Mar 10
Apr 10
Mei 10
Jun 10
Jul 10
Agt 10
Sept 10
Oct 10
Nov 10
Des 10
1,980k Visa & Mastercards transacted Rp3.59 tn in Q4 2010
Mandiri Visa & Mastercards and EOQ Receivables Total Card Quarterly Sales by Type of Transaction (Rp Bn)
1,6081,678
1,7701,868
1,980Receivables (Rp Bn)Cards (000s)
6058
5555
56
4355
64
7565
72Transfer BalanceCash AdvanceRetail
1,089
1,331
63 63 59
54
60 50
59 19 39
52
43 64
651752
872 61 62
579 10
32
567.
814.
1,270.
1,367.
1,292.
1,907.
1,925.
2,007.
2,112.
2,223.
2,251.
2,452.
2,753.
2,989.
2,973.
3,238.
3,372.
3,589.
226
338
53 52 53 60 60 831,511,441,661,901,911,892,162,552,672,492,843,003,13
62 61 5781 56
68
24 16 1018 8
11
31
5 9 2 4 8 5 9 7 7 2 0 2 7 3 4 7 5 .2
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
35 21 32 06 00 36 14 43 68 04 14 91 63 52 76 97 48 0332
Q4 '04
Q1 '05
Q2 '05
Q3 '05
Q4 '05
Q4 '06
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
Leveraging cash generator to accelerate high yield growth and deposit franchise
4,067
Rp BillionConsumer Loans from Alliance Program
(10 top corporate clients)Co‐Branding Prepaid Card Program
1 3891,609
1,821 2,085
2,283 2,558
3,202
319
1,275 1,389 ,
Q4 '06 Q4'08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 10 Q3 10 Q4 10
9 9,
9,9
10,
Total Payroll in 2010(*) Rp Billion
55,174
Corporate Card Holder from Alliance Program(10 top corporate clients)
3
4,39
4,756 3
4,30
5,169
8,836
9,175
9,607
,777
954
231
12,108 14,612 16,495
23,660
36,987
3,463
94
6
3,500
02
Jan Feb Mar Apr May Jun Jul Agt Sept Oct Nov Dec
1,869 2,007 3,625 7,272
Q3'08 Q4'08 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10
32(*) Including all payments to the employees
Strengthening Risk Management & Monitoring System
Corporate Customer by Rating Summary of Risk Management Initiatives
Credit
• Wholesale Transaction: Optimize credit decision process by focusing on quantitative factors of analysis, redefining clear role of risk team , and aligning RM Organization into business expansion
• High Yield Business: Assign dedicated team, set
High Risk (Rating C‐ G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
100% up loan factory, enhanced business process (incl. tools, monitoring & collection system, policy )
• Optimize capital by implementing ERM & VBA• Consolidate risk management of subsidiaries
24% 21%25%
24%
15% 12% 11% 15%7%
80%
100%
Market
• Development of risk measurement system for derivative & structured product (Summit)
• Implement Market Risk Internal Model• Intraday Limit Monitoring• Enhance Policy & Procedure for Treasury & ALM E h FTP (F d T f P i i ) th d
34%
40%
60%
Operational
• ORM implementation in all unit, incl. overseas offices & subsidiary
• Enhance FTP (Fund Transfer Pricing) method• Develop liquidity stress test & safety level• Develop measurement of capital for IRBB 51%
64% 68%60%
69%
20%
40%
33
Operational • Bring Op. Risk top issues into Management• Review Op. Risk on new procedures & new products
0%
2006 2007 2008 2009 2010
Q4 Total NPLs Rp4.92 tn with Rp0.5tn Up grades
Non‐Performing Loan Movements (Rp tn) – Bank Only Amount of Cash Provisioning
5.15 0.50 0.790.22
0.76
0.454.92
(Rp bn) Loans
Outstanding# of Cust
Provisioning (Rp bn)
Individual 15,115 502 7,245
Collective 203,917 957,213 3,134Collective 203,917 957,213 3,134
Total 219,032 957,715 10,379
• Bank Mandiri’s current cash provisioning to total loans (Bank only) stands at 4.74%
34
Q3 '10 UG to PL DG to NPL Payment Write‐Offs Other Q4 '10
12M 2010 operating profit increased by 28.0% from 12M 2009 on higher NII & fee‐based
12M 201012M 2009
Rp billionRp billion
8,43312,075
Up28.0%
5,484
10,009
20,07216,42917,358
12 83312,833
35
Net Interest Income Fee‐Based Income Overhead Expenses & Others
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 Fee‐Based Income Overhead Expenses & Others
Pre‐provision Operating Profit
Corporate Banking:Contribution Margin declines on rate increase
Rp bn Rp bn
Q1 Q2
Performance to Date: FY 2010 Contribution Margin (after PPAP) Strategies for 2010
1. Build up the industry‐based focus, including investment in human resources development, to support the organization in achieving higher3 910
873
396 435
3,616 290
3,326
1,144
1,011
Q3 Q4
2,906‐17.5%
the organization in achieving higher than market growth
2. Develop an awareness of the importance of optimizing the potential growth in wholesale business transactions, fund
3,910 3,326
2,7821,138
416
692
659
2,483 preservation and collection of fee‐based income with a strengthened product team function (from product sales specialist to product development) while increasing service standards and product
1 106
824
1,077537
competitiveness
3. Foster alliances (collaboration) among business units in the effort to maximize the borrower’s business potential, from downstream to upstream with a variety of product
545 741
522
1,075
592547 1,106 upstream, with a variety of product
and service offerings according to the current needs
4. Increase the role of Syndicated & Structured Finance Group and Mandiri Securities in speeding up the
36
2007 2008 2009 2010
development of wholesale transaction banking by providing sophisticated and comprehensive products that meet customers’ needs
Mandiri Sekuritas’ financial performance
FY ‘09FY‘10
Y‐o‐Y (%)
Revenues 353 359 12%
(Rp Bn)
Revenues 353 359 12%
• Investment Banking 129 71 (45%)
• Capital Market 177 197 611%
• Treasury 3 0 (100%)
• Investment Mgt 44 63 43%
Operating Expenses 183 240 31%
Earnings After Tax 46 104 126%
Equity Transactions 44 199 69 214 57%Equity Transactions 44,199 69,214 57%
SUN Transactions 21,380 40,429 89%
Bonds Underwritten 5.157 10,321 100%
ROA 2.4% 11.7% 388%
ROE 6.7% 14.1% 110%37
Treasury, FI & SAM
Rp bn Rp bnPerformance to Date: FY 2010 Contribution Margin (after PPAP) Strategies for 2010
1. New strategy for remittance business in Middle East, South Korea and Taiwan.
4 8482. Develop FX online dealing
& web‐based FX quotation system in order to generate more FX volume from corporate clients196
9754,848
1,540
Q1 Q2
Q3 Q4
4,848
from corporate clients.
3. Expand clients’ coverage for foreign exchange, marketable securities and custody services business
3,087 1963,873
1,247
196%
including foreign investors.
4. Set program and strategy to become major player in banknotes business.
5 E l t t i d1,338
263
1,280 1,382
5. Early restructuring and intense monitoring.
6. Legal action on non‐cooperative debtors.
7 Enhance e procurement
982
266 210 455 724 330
153
348
,
307322
316377
118
263803
38
7. Enhance e‐procurement system.
8. Optimum utilization on e‐auction.
* 2010: Including Collection from SAM and excluding International branches (except Cayman Branch)
NII Fees Overhead Operating Profit
Provisions Profit After PPAP
210
2007 2008 2009 2010
Commercial Banking:Strong revenues from both Liabilities & Assets
Q1 Q2 Q3 Q4Rp bnRp bn
Performance to Date: FY 2010 Contribution Margin (after PPAP) Strategies for 2010
1. Supporting Bank Mandiri Wholesale Banking vision as an Integrated Wholesale Bank4 709
1,003 694
5,530821
5.8%
Integrated Wholesale Bank through sophisticated, customized and completed services to can increase revenue especially through potential business like
4,4494,709
1,166 1,1744,233
988 821
4,709 3,026
Wholesale Banking Deposit and Fee Income.
2. Increasing profit and market share through customer existing share of wallet, increasing
f d
1,266 1,176
714
,
2,114revenue from new customer and NPL control.
3. Provide best total business solution for customer by developing product and services including quality bundling
487852 923 939
946
795
, 1,176564
including quality bundling product, quick services and competitive price.
4. Effective Alliance in units based on customer base in Commercial and Small segment especially in487
2007 2008* 2009* 2010**
* incl CM of Small Business & BSM**in June 2010 Decline due to PSAK50&55Implementation 39
and Small segment, especially in developing value chain business.
Commercial Banking :Stronger Platform & Improved Distribution Capability
Expanding Scope of Distribution, 2010Solid & Stable Source of
Low Cost FundsRp Tn **
S t K li t EProduct FY ‘09
FY ‘10
Growth
Demand Deposit
19.92 22.91 15%
SumateraLoans = Rp9.4 tnFunds = Rp3.5 tn
KalimantanLoans = Rp3.7 tnFunds = Rp1.8 tn
EasternLoans = Rp1.6 tnFunds = Rp0.8 tn
Rupiah 13.62 16.29 20%
FX 6.30 6.62 5%
Saving Deposit*
1.57 2.12 35%
Total Low Cost Fund
21.49 25.03 16%
Total Funding
32.69 37.34 14%Java and Bali
Loans = Rp49.1 tnFunds = Rp22.2 tn
CBC = 20 Unit
Floor = 22 Unit
TSC = 12 Unit
TSD = 14 Unit
Low Cost Fund Ratio = 67.03%Funding from Java & Bali =76.%
40
of total funding
* Business Savings Product** excl. SBG
Business Banking :Jaringan yang luas memberikan kemudahan akses bagi nasabahnasabah
Expanding Scope of Distribution, 2010 Potensi pertumbuhan dana yang cukup tinggi
Rp Tn**
S tS t K li tK li t E tE t
Medan
ProductQ4 ‘09
Q4 ‘10
Growth
Demand Deposit
2.2 2.4 9.1%
SumateraLoans = Rp 5.7 tnFunds = Rp 0.6 tn
SumateraLoans = Rp 5.7 tnFunds = Rp 0.6 tn
KalimantanLoans = Rp 2.9 tn Funds = Rp 0.4 tn
KalimantanLoans = Rp 2.9 tn Funds = Rp 0.4 tn
EasternLoans = Rp 2.9 tnFunds = Rp 0.2 tn
EasternLoans = Rp 2.9 tnFunds = Rp 0.2 tn
Medan
Pekanbaru
Palembang
Pontianak
Samarinda
Manado
Palu Jayapura
Balikpapan
Batam
Pematang siantar
Padang
Saving Deposit*
0.3 0.6 100.0%
Total Low 2 5 2 9 16 0%
Makassar
Banjarmasin
Surabaya
Semarang
Denpasar
Bandung
B.Lampung
Jambi
BekasiJakarta
Solo
Tangerang
Bogor
Cost Fund2.5 2.9 16.0%
Total Funding
3.0 4.1 36.7%
Kota yang dilayani BBC
Denpasar
BBC : 29BB Floor : 68BB Desk 85
Low Cost Fund Ratio = 70.7%Funding from Java & Bali =69.32%
Java and BaliLoans = Rp 11.1 tnFunds = Rp 2.8 tn
Java and BaliLoans = Rp 11.1 tnFunds = Rp 2.8 tn
Kota yang dilayani BB FloorBB Desk : 85
41
of total funding
•Business Savings Product** Belum memperhitungkan dana mirroring dengan Direktorat MRB
Strong growth from Bank Syariah Mandiri
13.6% 13.5%13.0%
12 7% 12 3%
Net Interest Margin & Cost of FundsFinancial Performance (Rp bn)
YoA
FY ’06 FY ‘07 FY ’08 FY ’09 FY ’10
Financing 7,415 10,305 13,278 16,063 23,968
12.3%12.4% 12.4% 12.3%12.7%
12.0%
12.1%12.3%Deposits 8,219 11,106 14,899 19,338 28,998
Assets 9,555 12,888 17,066 22,037 32,481
EAT 65.48 114.64 196.42 290.94 418,52
Ratios:Ratios:
ROA 1.10% 1.54% 1.83% 2.23% 2.21%
ROE 10.23% 15.94% 21.34% 21.40% 25.05%
Net NPF 4.64% 3.43% 2.37% 1.34% 1.29%
5.7%5.4%5.4%5.4%5.3%5.3%
5.7%6.2%
5.9%
5.8%5.6% 4.9%
5.0%
5.1%Financing
90.2%91.1%91.1%89.2%99.1%
89.1%86 9% 85 2%86.3%
Syariah Financing (Rp tn)
CoF
6.8% 5.6%6.3%6.7%6.3%6.4%6.3%5.6%5.6%6.1%6.6%6.2%6.2%6.4%6.6%
4.7%5 0%89.2% 89.1%86.9% 87.9%83.1%83.9%
85.2% 82.7%
FDR
NIM
2005Q4 '06Q4 '07Q1 '08Q2 '08Q3 '08Q4 '08Q1 '09Q2 '09Q3 '09Q4 '09Q1 '10Q2'10Q3'10Q4'10
10.31 11.15 12.73 13.77 13.25 13.43 14.23 14.94 16.06 17.65 19.87 21.44 23.97
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2'10Q3'10Q4'10
42
Micro & Retail Banking:Rapidly growing our high margin business
Q4
Performance to Date: FY 2010 Contribution Margin (after PPAP)
Rp bn Rp bn
Strategies for 2010
1. Leverage our strength in Corporate and large
1,069
Q4
Q3
Q2
Q1
3,081 3,995 Commercial customers to quickly build high margin business
2. Continue to improve our payment infrastructure3,152 3,320
1,319 449
722899
(1.0%)
4,384
5,149
2,204
payment infrastructure3. Expand our distribution
with a focus on high margin business
4. Improve our sales culture d d f
,
880
855
83
572877
318
3,416 296
3,120
and productivity of existing network
5. Cross sell to grow our fee based income business
574 727 1,126
761
740 583
1,095
2007 2008* 2009 * 2010*
*Excluding Small Business 43* Includes Deposit Insurance
Consumer Finance:Significant growth in spread and fee income
Performance to Date, FY 2010 Contribution Margin (after PPAP)
Rp bnRp bn1,9,7
840646
474
Q1 Q2
Q3 Q4 28%
1,509
2,1882,382
455
1 927621489
1,927
455413
324639
831
252476 90 170 200
355
100161 133
79
158412
44
NII Fees Overhead Operating Profit
Provisions Profit After PPAPAxis Title
143 150 174 252
2006 2007 2008 2009 2010
Supporting pp gMaterials
45
Key Quarterly Balance Sheet Items & Financial Ratios
IDR billion / % FY ‘09 Q3 ‘10 FY ‘10 Y‐o‐Y (%)
Gross Loans 198,547 231,853 246,201 24.0%
Government Bonds 89,133 82,181 78,093 (12.4%)
lTotal Assets 394,617 409,366 449,775 14.0%
Customer Deposits 319,550 321,199 362,212 13.4%
Total Equity 35,109 39,023 41,543 18.3%
RoA ‐ before tax (p a ) 2 96% 2 88% 3 40%RoA ‐ before tax (p.a.) 2.96% 2.88% 3.40%
RoE – after tax (p.a.) 22.07% 23.10% 24.39%
Cost to Income(1) 40.18% 38.49% 42.02%
NIM (p.a.) 5.22% 5.50% 5.28%(p )
LDR 61.36% 71.74% 67.58%
Gross NPL / Total Loans 2.79% 2.60% 2.42%
Provisions / NPLs 200.45% 191.71% 192.36%
Tier 1 CAR(2) 12.50% 11.28% 11.57%
Total CAR(2) incl. Credit & Opr Risk 15.55% 14.56% 13.46%
Total CAR incl. Market & Opr Risk 15.43% 13.26% 13.36%
46
EPS (Rp) 341.72 304.42 439.38 28.58%
Book Value/Share (Rp) 1,677 1,861 1,980 18.07%(1) (G&A and employee expenses) / (Net Interest Income + Other Operating Income), excluding bond gains(2) Bank only – Not including Market Risk
Int. from Bonds Int. from LoansTotal Assets grew 13.98% Y‐o‐Y to Rp449.8 tn
1 9
125.5
400
440
75.4%74.1%
2
23
246
91. 7 6
67.
95.7
84.1
89.0
89.8
106.9
110.6
100.6
5.3
320
36060.6%
56.8%58.8%59.1%57.2%
63.6%68.0%68.3%67.3%
76.0%71.7%
76.5%
44.0
43.0 4 6 1 1 1 1 11 11 11
12
138.5
135.
149.6
162.8
174.5
175.2
181.6
188.3
198.5
201.9
218.0
31.9
.2
27.0
33.4
60.5
36.1
50.6
60.7
64.5
57.6
55.1
54.0
59.2
56.1
59.2
61.2
1 75.5
66.7
.4
200
240
280
40.9%
47.1%
41.0%34.8%
31.0%32.3%32.4%29.3%29.3%25.4%34.1%
50.0%
40.6%
46.9%50.1%
52.2%
al Assets (Rp tn)
0 0 8.3
65.4 75.9
94.4
106.9
105.1
107.8
108.8
17.7
14.3
16.3
1.7
5 .5
80
120
16022.4%
19.6%20.5%17.7%18.7%16.6%19.0%19.0%To
ta
177.4
176.9
153.5
148.8
122.9
93.1
92.1
92.2
92.3
91.0
90.6
90.6
89.5
90.8
89.5
88.6
88.4
88.5
88.3
88.4
88.2
88.4
89.1
86.8
83.5
82.2
78.1
0
40
80
Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q QQ4 '99
Q4 '00
Q4 '01
Q4 '02
Q4 '03
Q4 '04
Q4 '05
Q1 '06
Q2 '06
Q3 '06
Q4 '06
Q1 '07
Q2 '07
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
Government Bonds Loans Other Assets
47Consolidated
Additional Factors Aggregate of Rp32.864 tn (US$ 3.682 bn) in written‐off loans as of end‐September 2010, with significant recoveries on‐going: 2001: Rp2.0 tn 2002: Rp1 1 tn 2002: Rp1.1 tn 2003: Rp1.2 tn 2004: Rp1.08 tn 2005: Rp0.818 tn (US$ 83.2 mn)
Written‐off Loans
Written‐off Loans
2006: Rp3.408 tn (US$ 378.5 mn)* 2007: Rp1.531 tn (US$ 249.3 mn) 2008: Rp2.309 tn (US$ 211.8 mn)9M ’09 R 1 489 t (US$ 146 4 )LoansLoans 9Mo ’09: Rp1.489 tn (US$ 146.4 mn)
Q4 ‘09: Rp0.775 tn (US$ 82.5 mn) Q1 ‘10: Rp0.287 tn (US$ 31.6 mn) Q2 ‘10: Rp0.662 tn (US$ 73.0 mn)Q p ( $ ) Q3 ‘10: Rp0.363 tn (US$ 40.7 mn)**) Q4 ’10: Rp1.349 tn (US$149.7 mn)
* including the write‐back of RGM loans totaling Rp2.336 tn
48
** Including the write back of Kharisma Arya Paksi loans totaling Rp 0.124 tn and Gde Kadek Rp0.59tn.
Summary Quarterly Balance Sheet: Q4 ‘09 –‘10
Q4 '09 Q1 '10 Q2 '10 Q3 ’10 Q4 ’10 Y‐o‐YRp (tn) Rp (tn) Rp (tn) Rp (tn) Rp (tn) US$ (bn)# %
Total Assets 394.62 399.24 402.08 409.37 449.77 49.92 14.0%Cash 8.87 6.63 6.45 8.70 9.52 1.06 7.4%Cash 8.87 6.63 6.45 8.70 9.52 1.06 7.4%Placement with BI 16.06 17.92 25.71 19.23 24.86 2.76 54.8%
Placement with other banks 26.57 27.20 25.33 23.85 37.38 4.15 40.7%
Securities 3.73 35.48 25.75 11.38 27.25 3.02 630.5%Government Bonds 89 13 86 82 83 54 82 18 78 09 8 67 (12 4%)Government Bonds 89.13 86.82 83.54 82.18 78.09 8.67 (12.4%)Trading 0.43 0.27 0.15 0.50 0.61 0.07 42.3%AFS 25.92 63.13 59.96 58.25 54.05 6.00 108.6%HTM 62.79 23.42 23.43 23.43 23.43 2.60 (62.7%)
Loans 198.55 201.94 217.99 231.85 246.20 27.33 24.0%Loans 198.55 201.94 217.99 231.85 246.20 27.33 24.0%Performing Loans 192.34 196.57 213.12 225.64 240.18 26.66 24.9%Non‐Performing Loans 6.21 5.36 4.88 6.22 6.02 0.67 (3.1%)
Allowances(12.45) (11.50)
(11.55) (10.69) (11.52) (1.28) (7.5%)
Loans – Net 186.10 190.43 206.45 221.17 234.68 26.05 26.1%Total Deposits – Non‐Bank 319.55 312.91 326.58 321.19 362.21 40.20 13.4%Demand Deposits 72.70 69.80 73.34 62.76 68.29 7.58 (6.1%)Savings Deposits 113.80 106.98 113.75 120.33 123.96 13.76 8.9%
f &
4949
Certificate & Time Deposits
133.06 136.13 139.49 138.10 169.97 18.86 27.7%
Shareholders’ Equity 35.11 36.78 36.51 39.02 41.57 4.61 18.3%
# USD1 = Rp9.010
Summary Quarterly P&L – Q4 2010
Summary P&LQ4 2009 Q3 2010 Q4 2010 Q‐o‐Q Y‐o‐Y
Rp (Billions)% of
Av.AssetsRp (Billions)
% of Av.Assets
Rp (Billions)% of
Av.Assets (%) (%)
Interest Income 8,240 8.7% 8,871 8.8% 8,842 8.8% (0.3%) 7.3%, , , ( )
Interest Expense (3,630) (3.8%) (3,877) (3.8%) (3,688) (3.4%) (4.9%) 1.6%
Net Interest Income 4,610 4.8% 4,995 4.9% 5,154 4.8% 3.2% 11.8%
Oth O ti I 1 668 1 8% 2 153 2 1% 3 010 2 8% 39 8% 80 5%Other Operating Income 1,668 1.8% 2,153 2.1% 3,010 2.8% 39.8% 80.5%
Gain from Increase in Value & Sale of Bonds
(1) 0.0% 11 0.0% (122) (0.11%) n/a n/a
Provisions, Net 420 0.4% (1,344) (1.3%) 249 0.2% (118.5%) (40.7%)( ) ( ) ( ) ( )
Personnel Expenses (1,329) (1.4%) (1,510) (1.5%) (1,612) (1.5%) 6.8% 21.3%
G & A Expenses (1,384) (1.5%) (1,470) (1.5%) (1,682) (1.6%) 14.4% 21.5%
Other Operating( )
Other Operating Expenses**
(345) (0.4%) 107 (0.1%) (158) (0.1%) (247.7%) (54.2%)
Profit from Operations 3,637 3.8% 3,136 3.1% 5,202 4.8% 65.9% 43.0%
Non Operating Income 66 0.1% 63 (0.1%) 88 0.1% 39.7% 33.3%
5050
Net Income Before Tax 3,703 3.9% 3,199 3.2% 5,290 4.9% 65.4% 42.9%
Net Income After Tax 2,535 2.7% 2,355 2.3% 2,829 2.6% 20.1% 11.6%* % of Average Assets on an annualized basis** primarily premiums paid under the blanket guarantee scheme
Limited Impact on Government Recap Bonds
Maturity/Rp bn
Trading Portfolio Available for Sale Held to Maturity
Recap Bond Portfolio by Type and Maturity (Rp78,093 bn)
0.0060
70
Fixed Rate
Bonds by Rate Type & Portfolio as of Dec 2010 (Rp bn)
Rp bn MaturityNominal MTM Nominal MTM
Fixed Rate Bonds
< 1 year 0.6 0.6 ‐ ‐ 57 54.05
0.00
1.6820
30
40
50 Variable Rate
1 ‐ 5 year 262 291 ‐ ‐ 1,405
5 ‐ 10 year 136 144 ‐ ‐ 102
> 10 year 151 176 120 * Mark to Market impacts Profit# Mark to Market impacts Equity
21.74 0.61
0
10
Trading* AFS# HTM^
Sub Total 551 612 ‐ ‐ 1,684
Variable Rate Bonds
< 1 year ‐ ‐ ‐ ‐ ‐ Q4 ‘09 Q4 ‘10 FY ’10
Q4 ‘10 Recap Bond Gains/(Losses) (Rp bn)
# Mark to Market impacts Equity^ Nominal value
1 ‐ 5 year ‐ ‐ 4,070 4,148 1,506
5 ‐ 10 year ‐ ‐ 50,441 49,904 20,239
> 10 year ‐ ‐ ‐ ‐ ‐
Realized Gains/Losseson Bonds
18.70 56.69 102.36
Unrealized Gains/Losses (0.91 ) 7.77 10.81
51
Sub Total ‐ ‐ 54,511 54,052 21,745
T o t a l 551 612 54,511 54,052 23,429
/on Bonds
( )
Total 17.80 64.46 113.17)
Ex‐Recap Bond Portfolio, 31 Dec‘10 – Bank Only
SeriesInterest Rate (%)
Marked To Market
Maturity DateNo. Total Trading
Port
Total Available For Sale Port.
Total Held To Maturity Portfolio
Total Trading
Port
Fair ValueNominalTotal
Available For Sale Port
Total Investment
Port
1 FR0020 15-Dec-13 14.28% 291 100.000 - - 291
- - 291 - - 291
1 VR0019 25-Dec-14 6.64% 3,970,000 1,114,300 101.990 - 4,049,003 1,114,300
Port. Portfolio Port.Fixed Rate
Variable RateSub Total
Sale Port. Port.
00 9 5 6 6 % 3,9 0,000 , ,300 0 990 ,0 9,003 , ,3002 VR0020 25-Apr-15 6.37% - 391,029 100.000 - - 391,029 3 VR0021 25-Nov-15 6.63% 100,000 690 101.000 - 101,000 690 4 VR0022 25-Mar-16 6.64% 92,844 6,796,813 101.190 - 93,949 6,796,813 5 VR0023 25-Oct-16 6.37% 9,738 4,086,068 100.750 - 9,811 4,086,068 6 VR0024 25-Feb-17 6.63% 8,210,550 100.000 - - 8,210,550 7 VR0025 25-Sep-17 6.64% 3,765,402 1,145,148 98.944 - 3,725,639 1,145,148 8 VR0026 25-Jan-18 6.37% 3,475,267 - 98.940 - 3,438,429 - 9 VR0027 25-Jul-18 6.37% 3,475,267 - 100.000 - 3,475,267 -
10 VR0028 25-Aug-18 6.63% 5,171,695 - 98.937 - 5,116,720 - 11 VR0029 25-Aug-19 6.63% 8,819,688 - 98.934 - 8,725,670 - 12 VR0030 25-Dec-19 6.64% 8,016,765 - 98.938 - 7,931,627 - 13 VR0031 25-Jul-20 6.37% 17,614,108 - 102.000 - 17,966,390 -
54 510 774 21 744 598 54 633 506 21 744 598S b T t l - 54,510,774 21,744,598 - 54,633,506 21,744,598 - 54,510,774 21,744,889 - 54,633,506 21,744,889
0.00% 71.48% 28.52% 0.00% 71.53% 28.47%76,255,663 76,378,395
Sub TotalGrand Total
Total Fair ValueTotal Nominal Value
52
(Stated in Rp Millions)
Bank Mandiri Credit Ratings
Moody’s Fitch
Outlook STABLE Outlook POS
Long Term Rating Ba2 LT FC Issuer Default BB+
Foreign LT Bank Deposits Ba2 LT LC Issuer Default BB+
Local LT Bank Deposits Baa3 Subordinated Debt BB‐
Senior Unsecured Debt WR ST Issuer Default Rating B
Bank Financial Strength D Individual Rating C/D
Foreign Curency ST Debt NP Support Rating 3
Local Cuurency ST Debt P‐3
Standard & Poor’s
Pefindo Outlook STABLEPefindo Outlook STABLE
Outlook STABLE LT Foreign Issuer Credit BB
LT General Obligation idAAA LT Local Issuer Credit BB
ST F i I C di B
53
ST Foreign Issuer Credit B
ST Local Issuer Credit B
Corporate Actions
Net Profit for the financial year of 2009 of Rp7,155,463,216,743.00was distributed as follows:
• 35%, or Rp2,504,412,132,860.05, for the annual dividendT t l Di id d P t f R 119 43 h• Total Dividend Payment of Rp119.43 per share
• Interim dividend of Rp19.26 paid on 22 December 2009Schedule :
a. Cum Date: R l d N ti t d M k t J 9 2010
DividendPaymentDividendPayment
Regular and Negotiated Market: June 9, 2010Cash Market: June 14, 2010
b. Ex Date: Regular and Negotiated Market: June 10, 2010C h M k t J 15 2010Cash Market: June 15, 2010
c. Payment Date: June 28 2010
Net Profit for the financial year of 2008 of Rp5,312,821,488,698.00was distributed as followswas distributed as follows:
• 35%, or Rp1,859,487,521,044.30, for the annual dividend• Total Dividend Payment of Rp88.55 per share
54
Rp86.3 tn in loans disbursed in 2010
12.6329.30
Loan Movement (Rp tn) – Bank Only Loan Disbursement by Segment (Rp tn) – Bank Only
9.10
7.1586.2913.51 1.22 2.92
219.03
26.15 86.29
179.69
31.26
Corporate Commercial Small Micro Cons Fin Total
55
q4 '09 Disburs. Install. Payment FX Impact Write‐Offs Q4 '10
Q4 2010 Movement in Category 1 and 2 LoansCategory 1 Loan Movements (Rp bn) – Bank Only Category 2 Loan Movements (Rp bn) – Bank Only
2,566 2,8617
41
13,103 267
2,566 2,861
184,
198,35
783 455 1,172 57
,655
55 17,498
15,758
56
Beg. Bal. D/G to 2 U/G from 2
D/G to NPL
U/G from NPL
Net Disburs.
FX Impact End Bal. Beg. Bal. Cat. 1 D/G
U/G to 1 D/G to NPL
NPL U/G Net Disburs.
FX Impact End Bal.
Q4 2010 Loan Detail: Collectibility by SegmentLoan Profile: Q4 Collectibility (%) by SegmentBank Only
4 2%0.4% 0.7% 0.2% 0 9% 0.3%1.5% 1.3% 1.8% 2.5% 1.3%
1,401
Loan Profile: Q3 Collectibility (Rp bn) by SegmentBank Only
8.2%4.2% 5.6%
12.6%10.4%
0.9%7,682
80,000
90,000
5
4
2,690
840
50 000
60,000
70,000
89.9% 93.5% 91.8%82.8%
87.5%
3
2
184,059
60 484404
30 000
40,000
50,000
60,484
20,902 26,864
1,279
3,191 416
18310,000
20,000
30,000
57Corp Comm Small Micro Cons
,
6,046 917 183
0
0,000
Corp Comm Small Micro Cons
NPL Loan Detail*: Quarterly by Days Past Due
60%
70%Current (%)
Quarterly D/G to NPL & Interest DPD ‐ Bank Only Quarterly NPL Stock & Interest DPD ‐ Bank Only
Rp tn
60%
70%Current (%)
30%
40%
50%
60% <30 Days OD (%)
30%
40%
50%
60%<30 Days OD (%)
0%
10%
20%
12 000 30 0000%
10%
20%
8,000
10,000
12,000
Rp Value
20,000
25,000
30,000
Rp Value
11,166,901,174,101,551,301,031,64 23 78 56 13 50 59 321,851,97 29 48 28 85 61 45 552,000
4,000
6,000
17,4524,9624,1926,2426,4225,6625,4117,9617,1816,5013,6010,656,556,516,587,839,677,706,094,503,583,663,983,92
5,000
10,000
15,000
58
61 01 77 06 58 04 31 44 35 83 61 34 03 96 25 58 75 97 80 83 51 17 54 52
0
Q1 '05
Q2 '05
Q3 '05
Q4 '05
Q1 '06
Q2 '06
Q3 '06
Q4 '06
Q1 '07
Q2 '07
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
56 62 93 48 24 65 14 60 80 00 03 54 58 10 86 33 78 00 99 05 89 68 85 29
0
Q1 '05
Q2 '05
Q3 '05
Q4 '05
Q1 '06
Q2 '06
Q3 '06
Q4 '06
Q1 '07
Q2 '07
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4'10
* Excluding Micro & Consumer Loans Only
Rp953 bn in loans were restructured or repaid in Q4 ‘10
Others#Write‐OffsRepayments
IDR bn
Loans by Restructuring Type in Q4 2010Restructured Loan Movement 2002 ‐ 2010
RestructuringBalance
Maturity extension; 50.4%
Maturity extension w/reduced
LT loans w/convert;
Additional loans; 0.7%
29,542
23,987
21,045
19,427
20,914
20,645
16,560
17,104
16,046
15,271
16,278
15,334
20 Ad
D 2 0 Ad
D 20 Ad
D 20 Ad
D 20 Ad
D 20 Ad
D 20 Ad
D 20 Ad
D Q Ad
D Q Ad
D Q Ad
D Q
rates; 3.1%
Maturity extension w/other
' *
1.4%
002dd educt003dd educt004dd educt005dd educt006dd educt007dd educt008dd educt009dd educt
Q1 '10dd educt
Q2 '10dd educt
Q3 '10dd educt
Q4.10
restr'g*; 44.7%
*Other Restructuring includes reduction of interest
(Rp billions) ‘07 ‘08 ‘09 Q1 ’10
Q2 ’10
Q3 ’10
Q4 ’10
59
#Others includes partial payments, FX impacts, and fluctuation in Working Capital facilities
rates, rescheduling of unpaid interest & extension of repayment period for unpaid interest
Loans Restructured
2,445 677 5,660 33 149 253 732
NPLCollections
2,567 1,147 2,058 141 96 101 221
Loan Portfolio Sector Analysis, Q4 2010
Bus Serv10%
Constr5% Mfg‐Chem
7%
Plantations
Bus Serv
Constr
Plantations14%
Mfg‐F&B11%
Constr
Mfg‐Chem
Mfg‐F&B
Mfg‐Oth
Mfg‐Oth13%
Oil & Gas6%T d Di tTrans‐Comm
Others16%
Oil & Gas
Trad‐Distr
Trad‐Ret
T C 6%Trad‐Distr6%
Trad‐Ret7%
Trans Comm5%
Trans‐Comm
Others
60
(1) Non‐consolidated numbers* Each sector < 4%
* Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Downgrades to NPL
5
61 90 D
Others90%
100%
Loan Profile: Q4 NPL Downgrades Only (Rp552bn) Bank OnlyCorporate, Commercial & Small Business
loans downgraded to NPL in Q4 totaled
Rp552 billion. Of these loans:
4 31‐60 Days
61‐90 Days
Mfg‐Oth
Mining
Mfg‐RawM
Small
70%
80% 29.1% were current on interest payments
61.5% were Commercial borrowers and
Bus Serv
Trad‐Distr IDR WC Corp
50%
60%
28.0% came from our Small Business portfolio
Largest downgrades by sector:
Chemical Manufacturing
3
> 90 DaysTrad‐Ret
Comm30%
40%
Chemical Manufacturing
Metal Manufacturing
Retail Trading
70.7% were IDR loans3
Mfg‐Chem
Mfg‐Metal
USD Invest10%
20%
74.2% were Working Capital loans
48.9% were more than 90 days overdue in interest payments
61
< 30 Days
Mfg‐Chem
0%
Collect. Int. Aging Sector Currency Purpose Segment * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Non‐Performing Loans
61‐90 Days
Oth
Small90%
100%
Loan Profile: Q4 Non‐Performing Loans Only (Rp3,929 bn) Bank Only Corporate, Commercial & Small Business
NPLs totaled Rp3,929 billion in Q4. Of
these NPLs in Q4:
Trad‐Distr
Others
IDR
70%
80%
38.2% remain current on interest payments and an additional 6.8% are less than 90 days overdue
46.1% are to Corporate customers5
> 90 Days Leasing
Mfg‐Text
TransWC
Corp
50%
60%
p
69.9% are Working Capital loans and 29.3% are Investment loans
Primary sectors are: Metal Manufacturing
Mfg‐Oth
Trad‐Dom
Program30%
40%
Metal Manufacturing Retail Trading Domestic Trading
50.5% are Rp loans
3
4
Trad‐Ret
USD
Invest
g
Comm
10%
20%
22.7% are Cat. 3 & 9.7% are Cat. 4
4.8% were upgraded in Q4, while 62.0% saw no change in collectibility
62
CurrentMfg‐Metal
Consumer0%
Collect. Int. Aging Sector Currency Purpose Segment * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Downgrades to Cat. 2
Others90%
100%
Loan Profile: Q4 Downgrades to Cat 2 Only (Rp1,137bn) Bank Only Rp1,137 billion in
Corporate, Commercial & Small Business
loans were downgraded to Category 2 in
Q4 Of th S i l M ti L
Small Current
Mfg‐Metal
Bus Serv
Constr >2004
70%
80%
Q4. Of the Special Mention Loans
downgraded: 44.8% are for Small Business & 35.4%
are to Corporate customers
61+ Days Trad‐Distr
Mfg‐othIDR
WC
50%
60%
47.0% are current & 1.7% are 1 day
overdue in interest payments
Primary sectors downgraded are:
Textile Manufacturing
Corp
31‐60 Days
Trad‐Ret2000‐2004
30%
40%
Textile Manufacturing
Retail Trading
Distribution Trading
74.0% are Rupiah loans
Comm
< 30 Days
Mfg‐Text USD Invest10%
20%
84.7% are Working Capital loans
63
Comm
Consumer <20000%
Segment Days Aging Sector Currency Purpose Origin Year * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Category 2 Loans
Small Others90%
100%
Loan Profile: Q4 Category 2 Loans Only (Rp11,651 bn) Bank Only Rp11,651 billion in
Corporate, Commercial & Small Business
loans were in Category 2 in Q4. Of these
S i l i l
Mfg‐RawM
Plantations
Trans‐Oth
IDRWC
>200470%
80%
Special Mention loans:
65.9% are to Corporate customers
81.8% are current or 1 day
Corp
Current
Trading
Mfg‐Oth
Mfg‐NonM
50%
60%
overdue, with an additional 11.5% less
than 30 days overdue
Primary sectors in Category 2 are:
T til M f t i
Mfg‐Chem
Trading
Synd2030%
40%
Textile Manufacturing
Pulp & Paper Manufacturing
Trading
Chemical Manufacturing
Comm 31‐60 Days
61+ Days
Mf P&P
Mfg‐Text USDInvest
000‐2004
10%
20% 56.9% are IDR loans
59.6% are Working Capital loans
64
< 30 DaysMfg‐P&P
Consumer <20000%
Segment Days Aging Sector Currency Purpose Origin Year * Excluding Micro & Consumer Loans Only
85.94% were Category 2 in Q3 ‘10
Q4 2010 Loan Detail*: Upgrades to PL
SmallMfg‐Wood
Others
90%
100%
Loan Profile: Q4 Upgrades to PL (Rp407.9 bn) Bank OnlyCorporate, Commercial & Small Business
loans upgraded to PL in Q4 totaled
Rp407.9 billion. Of these loans:
Ports
Trad‐Ret
Mfg Wood
>2004
70%
80% 82.59% were to Commercial borrowers
65.3% originated in 2005 or later
Largest upgrades by sector:
2
Mass TransIDR WC
50%
60%
Largest upgrades by sector:
Mass Transportation
Port Construction
72.3% were IDR loans
Comm 2000‐20030%
40%
70.2% were Working Capital loans
93.8% of upgrades to PL were NPLs moving to Category 2
Constr‐oth
USD Invest
04
10%
20%
65
1Consumer <20000%
Collect. Segment Sector Currency Purpose Origin Year * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Performing Loans
2Small Others >2004
90%
100%
Loan Profile: Q4 Performing Loans Only (Rp177,095bn) Bank Only Rp177,095 billion in
Corporate, Commercial & Small Business
loans were performing in Q4. Of these
f i l
Mf Ch
Trad‐Ret
Trad‐Distr
WC70%
80%
performing loans:
51.8% are to Corporate customers & 35.7% are to Commercial customers
85.7% originated since 2005
Corp
Trans
Mining
Mfg‐Chem
IDR
2050%
60%
Primary sectors are:
Plantation
Food & Beverage Manufacturing
1
Mfg‐F&B
Bus Serv ProgramSynd
000‐2004
30%
40%
Business Services
Transportation
79.2% are Rupiah loans
55.9% are Working Capital loans
CommMfg‐oth
USD
Invest
10%
20%
g p
88.7% saw no change in collectibility
0.2% were upgraded from NPL
66
Plantations
Consumer <20000%
Collect. Segment Sector Currency Purpose Origin Year * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Restructured Loans
3
5
Others
Small
90%
100%
Loan Profile: Q4 Restructured Loans Only (Rp14,266 bn) Bank Only Of the remaining Rp14,266 billion in
restructured Corporate, Commercial &
Small Business loans in Q4 :
Mfg‐NonM
Mfg‐Metal
USD WC70%
80% 91.0% are performing 88.0% of Restructured Loans are current in interest payments
Primary sectors are:
2
Current
Mfg‐Chem
Plantations
Mfg‐OtherCorp
50%
60%
Manufacturing•Textiles•Pulp & Paper•Chemicals
Trading
Mfg‐Chem
Synd
30%
40%
Trading Plantation
59.0% are Rupiah loans 59.1% are Working Capital loans
1
Mfg Text
Mfg‐P&PIDR
InvestComm
10%
20%
72.7% are to Corporate customers 4.4% deteriorated in collectibility 8.6% showed improved collectibility
67
< 30 Days
61‐90 Days Mfg‐Text
0%
Collect. NPL Aging Sector Currency Purpose Segment * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail: Corporate Loans
2
5
Utilities
Others>2004
90%
100%
Loan Profile: Q4 Corporate Loans Only (Rp93,551 bn) Bank OnlyRp93,551 billion in loans were in the
Corporate portfolio in Q4. Of the
Corporate Loans in Q4:
Bus Serv
Mfg‐Chem
Trading
Utilities
WC
70%
80% 98.1% are performing loans, with 8.2% in Category 2
92.4% of Category 2 loans are current in interest payments
CurrentOil & Gas
Trans‐Comm
Bus ServIDR
Synd 250%
60%
in interest payments
70.4% of NPLs are current in interest payments
Primary sectors in Corporate are:
1
Mfg‐oth000‐2004
30%
40%
Plantation Food & Beverage Mfg Oil‐Gas
68.1% are Rupiah loans
Plantations
Mfg‐F&B
USD
Invest
10%
20%
48.0% are Working Capital loans
68
< 30 Days
Plantations
Consumer <20000%
Collect. Cat. 2 Aging Sector Currency Purpose Origin Year
Q4 2010 Loan Detail: Commercial Loans
235
Others 2000‐200490%
100%
Loan Profile: Q4 Commercial Loans Only (Rp64,704bn) Bank Only Rp64,704 billion in loans were in the
Commercial portfolio in Q4. Of the
Commercial Loans in Q4:
Trad‐oth
Constr
Mass Trans
WC70%
80% 97.6% are performing loans, with 4.2% in Category 2
80.1% of Category 2 loans are current in interest payments
Current
Plantations
Mfg‐Chem
Mfg‐F&B
IDR
WC
50%
60%
in interest payments
12.6% of NPLs are current in interest payments
Primary sectors in Commercial are:1
Trad‐Distr
Plantations>2004
30%
40%
Business Services Distribution Plantations Chemical Manufacturing
86 2% R i h l
1 Day31‐60 Days
61+ Days
Mfg‐oth
Bus Serv
Invest
10%
20%
86.2% are Rupiah loans
61.7% are Working Capital loans
69
< 30 Days
1 Day Mfg othUSD
<20000%
Collect. Cat. 2 Aging Sector Currency Purpose Origin Year
Q4 2010 Loan Detail: Small Business Loans
235
Current Others>2004
90%
100%
Loan Profile: Q4 Small Business Loans Only (Rp22,770bn) Bank OnlyRp22,770 billion in loans were in the
Small Business portfolio in Q4. Of the
Small Business Loans in Q4:
61+ DaysMfg
Others
70%
80% 97.4% are performing loans, with5.6% in Category 2
19.3% of Category 2 loans are current in interest payments
31‐60 DaysPlantations
Bus Serv
IDR
WC
250%
60%
in interest payments
5.7% of NPLs are current in interest payments
Primary sectors in Small Business are:1 1 Day Trad‐Distr
2000‐2004
30%
40%
Retail Trading Distribution Plantations Business Services
99 6% R i h l
< 30 DaysTrad‐Ret Invest
Program
10%
20%
99.6% are Rupiah loans
74.7% are Working Capital loans
70
Consumer<20000%
Collect. Cat. 2 Aging Sector Currency Purpose Origin Year * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: Rupiah Loans
235
Others Small >200490%
100%
Loan Profile: Q4 Rupiah Loans Only (Rp142,170 bn) Bank OnlyRp142,170 billion in loans were Rupiah
denominated in Q4. Of the Rupiah Loans
in Q4:
Current Trad‐Ret
Comm
Constr
WC70%
80% 98.6% are performing loans, with4.7% in Category 2
72.6% of Category 2 loans are current in interest paymentsCurrent
Mfg‐Chem
Trad‐Distr Corp
2050%
60%
in interest payments
8.6% of NPLs are current in interest payments
Primary sectors in Rupiah loans are:1
61+ D
Bus Serv
Mfg‐Oth
Synd000‐2004
30%
40%
Plantations Business Serices Food & Beverage Mfg Distribution
44 8% C l
1 Day31‐60 Days
61+ Days
Mfg‐F&B CommInvest
10%
20%
44.8% are Corporate loans
57.3% are Working Capital loans
71
< 30 Days Plantations
Consumer <20000%
Collect. Cat. 2 Aging Sector Segment Purpose Origin Year * Excluding Micro & Consumer Loans Only
Q4 2010 Loan Detail*: FX Loans
2
35
Others
Small
>200490%
100%
Loan Profile: Q4FX Loans Only (Rp38,855bn) Bank OnlyRp38,855 billion in loans were FX
denominated in Q4. Of the FX Loans in
Q4:2
Mfg‐Text
Mfg‐Chem
Mfg‐P&P
WC70%
80% 95.0% are performing loans, with 12.9% in Category 2
93.3% of Category 2 loans are current in interest payments
Current
Mf h
Plantations
Utilities
Mfg‐Text
Corp
2050%
60%
in interest payments
68.4% of NPLs are current in interest payments
Primary sectors in FX loans are:
1
Mfg‐F&B
Trading
Mfg‐oth Synd
000‐2004
30%
40%
Oil & Gas Food & Beverage Mfg Trading Plantations
76 8% C l
Oil & Gas
g
Comm
Invest
10%
20%
76.8% are Corporate loans
52.4% are Working Capital loans
72
< 30 Days61+ Days
<20000%
Collect. Cat. 2 Aging Sector Segment Purpose Origin Year * Excluding Micro & Consumer Loans Only
Credit Card portfolio showed modest deterioration in Q4 ‘10
Mandiri Credit Card Delinquency Rates (%)
NPLs (90+DPD)
Quarterly Charge‐offs, NPLs & Recoveries (Rp Bn)
30 DPD ‐ Rp90 DPD R
109.1123.1115.0
NPLs (90+DPD)Write‐OffsRecoveries
16.8%90 DPD ‐ Rp30 DPD ‐ Cards90 DPD ‐ Cards
82.975.6
83.878.7
72.276.4
90.779.410.2%
11.2%
9.7%
8 6%
10.7%
9.5%
35.9
63.6
32.6
40.837.5 37.1
29 743.5
45.744.5
57.353.5
36.0
7.1%
8.1%
6.4%
7.7%7.2%
8.3%8.2%8.1%8.6%
5.3%
6.3%5.6%
4.7%4 2% 4 2%
4.8%5.0%4.5%4.8%4.5%5.0%
4 1%5.8%
33.1
32.6 29.7 28.6
2.0 4.7 6.9 8.813.9 14.5 17.6 16.9 24.4
23.628.23.4%
3.8%4.2% 4.2%4.1%
3.3%2.7%
1.9% 2.0%
1.8% 1.8%1.8%
1.7%1.7%
2.1% 2.4% 2.2%1.7% 1.5%
1 1% 1 0%0.9% 1.0%0.9%
0 9%0 9%
73
Q1 '04
Q2 '04
Q3 '04
Q4 '04
Q4 '05
Q4 '06
Q1 '07
Q2 '07
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
1.1% 1.0% 0.9%0.9%
Q1 '04
Q2 '04
Q3 '04
Q4 '04
Q4 '05
Q4 '06
Q1 '07
Q2 '07
Q3 '07
Q4 '07
Q1 '08
Q2 '08
Q3 '08
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Q4 '10
Staffing and Distribution Network GrowthEmployees ATM Network
19 18 17 17 18 19 21 21 21 22 22 23 24 24 259,6068,0167,2047,7358,3979,6931,1921,0621,6312,4082,9093,4454,2824,9545,236
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Q1 '10
Q2 '10
Q3'10
Q4'10
513533
1,1841,5592,0222,4702,5602,8003,1864,1204,9964,9975,2245,4956,496
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Q1 '1 0
Q2 '10
Q3'10
Q4'100 0
Domestic Branch Network ATM‐Link Network
6 5 6 6 7 7 9 9 91,01,01,11,11,21,3
3,14,04,75,56,06,27,07,812,614,114,314,818,3
74
658546635687730789909924956027095108180296370
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Q1 '10
Q2 '10
Q3 '10
Q4 '10
160000716537025265041851666165359822321
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Q1 '10
Q2 '10
Q3 '10
Q4 '10
Loan growth, quality & provisioning relative to peers Bank Only, As of September 2010
Total Loans(Rp bn)
Loan Growth (YTD)(%)
Loan to Deposit Ratio(%)
228,695
207,305
138,869
122,886
94,002
72,213
52,674
47,481
46,561
45,128
26.6%
21.9%
19.2%
15.4%
14.3%
13.3%
12.4%
11.3%
9.5%
1.6%
114.3%
103.7%
89.0%
88.6%
85.9%
84.4%
73.4%
69.6%
68.6%
52.6%
B D B C B P P M B B
Ratio of Provisions to NPL
BRI
Mandiri
BCA
BNI
CIMB N
iaga
Danam
on
Panin
BII
BTN
Permata
BII
Panin
Danam
on
Mandiri
BTN
CIMB N
iaga
BCA
BRI
Permata
BNI
NPL Ratio (Net)
BTN
Danam
on
BRI
CIMB N
iaga
BII
Permata
Panin
Mandiri
BNI
BCA
NPL Ratio (Gross)(%)(%)(%)
374%
227%
158%
136%
120%
110%
103%
93%
79%
49%
BCA
Mand
BRI
CIMB
BNI
Dana m
Panin
Perma
BII
BTN
0.0%
0.3%
0.7%
0.7%
0.9%
1.1%
1.2%
1.8%
2.1%
3.5%
Danam
BCA
Mand
BNI
Perma
Panin
BRI
CIMB
BII
BTN
0.8%
2.4%
2.7%
3.0%
3.2%
3.2%
3.6%
4.2%
4.3%
4.4%
BCA
Mand
CIMB
Panin
Perma
Danam
BII
BTN
BRI
BNI
iri Niaga
mon
ata
mon
iri
ata
Niaga
iri Niaga
ata
mon
Average
Asset and liability mix relative to peersBank Only, As of September 2010
Loans to Total Earning Assets(%)
Total Assets(Rp bn)
Yield on Assets (p.a.)(%)
83.7%
81.1%
76.6%
75.8%
73.0%
72.3%
61.2%
61.2%
60.6%
48.7%
371,907
320,836
307,863
216,689
128,447
102,820
93,455
69,271
66,994
63,498
14.0%
12.7%
11.4%
10.9%
10.4%
10.2%
9.4%
9.2%
9.0%
7.3%
Danam
on
BTN
CIMB …
BII
Permata
BRI
Mandiri
Panin
BNI
BCA
Mandiri
BRI
BCA
BNI
CIMB N
iaga
Danam
on
Panin
BII
Permata
BTN
Cost of Funds (p.a.)(%)
Low Cost Deposit Ratio(%)
Danam
on
BRI
BTN
CIMB N
iaga
Permata
BII
Panin
BNI
Mandiri
BCA
Total Deposits(R t ) (%)(%)(Rp tn)
2.7%
3.6%
3.9%
4.0%
4.7%
4.8%
5.0%
5.1%
5.3%
6.4%
BCA
BNI
Mandi
BRI
BII
CIMB N
Perma
Panin
Dana m
BTN
75.0%
58.0%
57.8%
56.6%
49.2%
45.6%
44.7%
39.7%
39.5%
34.0%
BCA
BRI
Mandir
BNI
Panin
CIMB N
Permat
BII
Danam
o
BTN
295,875
262,768
257,017
179,028
104,850
69,204
69,146
54,955
53,679
41,410
Mandi
BCA
BRI
BNI
CIMB
Panin
Danam
BII
Perma
BTN
76
iri Niaga
ata
mon
i iaga
a oniri Niaga
mon
ataAverage
Efficiency measures relative to peersBank Only, As of September 2010
Profit/ Employee(Rp Mn)
Loans/ Employee(Rp Mn)
Cost/Assets(%)*
413
341
260
258
215
205
202
189 75
66
11,031
9,091
8,746
8,308
8,053
7,038
6,712
6,657
6,476
1,612
3.5%
3.8%
3.9%
4.4%
4.5%
4.6%
4.9%
6.0%
6.1%
7.1%
BCA
Mandiri
Panin
BRI
BNI
CIMB …
BII
BTN
Permata
Danam
on
BTN
Panin
BII
Mandiri
CIMB N
iaga
BCA
BNI
BRI
Permata
Danam
on
Cost/ IncomeDeposits/ Employee Pre Tax Income/Employee
Panin
Mandiri
BCA
BII
BTN
CIMB …
BNI
Permata
BRI
Danam
on
(%)(Rp Mn) (Rp Mn)
39.5%
40.8%
42.2%
43.1%
43.5%
46.9%
48.1%
48.9%
54.8%
58.1%
Man
BRI
Pan
Dan
BNI
CIM
Per m
BCA
BTN
BII
13,317
11,944
11,857
10,403
9,811
9,779
8,982
7,495
7,482
1,544
BCA
Pan
Ma n
BII
BT N
BNI
CIM
Perm
BRI
Dan
389
337
252
248
232
206
204
202 78 58
BCA
Man
Pan
BRI
BNI
BII
CI M
BTN
Perm
Dan ndiri
in amon
B …
mata
A NA in ndiri
N
B …
mata
amon
A ndiri
in
MB N
iaga
N mata
amon
*Annualized
Average
Measures of scale and returns relative to peersBank Only, As of September 2010
BranchesEmployees ATMs
1,636
1,296
1,290
1,054
898
714
402
398
294
274
BRI
Man
Dana
BNI
BCA
CIM
BTN
Pani
BII
Perm
44,787
34,353
24,954
19,732
18,308
11,673
7,332
5,794
5,160
4,221
Dan
BRI
Ma n
BCA
BNI
CIM
BII
Pan i
Perm
BTN
6,948
5,495
5,269
4,033
1,276
829
814
610
542
538
BCA
Man
BRI
BNI
CIM
BII
Dan
Per m
BTN
Pan indiri
amon
B Niaga
in mata
amon
ndiri
A B Niaga
in mata
Return on Equity (After Tax)(%)
Net Interest Margins(%)
Return on Assets (Before Tax)(%)
A ndiri
B Niaga
amon
mata
in
(%)(%) (%)
34.3%
32.5%
32.3%
25.1%
24.7%
23.1%
19.0%
15.5%
14.6%
8.8%
BRI
Mandir
BCA
BNI
Permat
CIMB N
Danam
o
Panin
BTN
BII
9.5%
9.2%
6.6%
5.9%
5.8%
5.7%
5.5%
5.4%
5.4%
4.9%
BRI
Danam
CIMB
BNI
BII
BTN
BCA
Perma
Mand
Panin
3.7%
3.6%
3.5%
3.1%
2.7%
2.6%
2.3%
2.3%
1.9%
1.2%
BRI
Dana m
BCA
Mand
CIMB
BNI
Panin
Perma
BTN
BII
i a iaga
on
mon
Niaga
ata
iri
mon
iri Niaga
ata
Average
Share Information
79
Equity Research Contact DetailsBROKERAGE ANALYST TELEPHONE E‐MAIL
ABN AMRO Asia Securities Indonesia Trevor Kalcic 65‐6518‐7997 [email protected]
BAHANA SECURITIES Teguh Hartanto 6221‐250‐5081 [email protected]
BANK OF AMERICA MERRILL LYNCH Kar Weng Loo 65‐6591‐0419 [email protected]
BNP PARIBAS PEREGRINE Tjandra Lienandjaja 6221‐5798‐4661 [email protected]
CAZENOVE Tan See Ping 65‐6395‐7692 [email protected]
CIMB‐GK SECURITIES Indonesia Mulya Chandra 6221‐515‐1330 [email protected]
CITI INVESTMENT RESEARCH Salman Ali 6221‐5290‐8546 [email protected]
CLSA LIMITED Bret Ginesky 6221‐2554‐8827 [email protected]
CREDIT SUISSE Teddy Oetomo 6221‐2553‐7911 Teddy.oetomo@credit‐suisse.com
DANAREKSA SEKURITAS Bonny Budi Setiawan 6221‐350‐9777 [email protected]
DBS VICKERS SECURITIES Agus Pramono 6221‐3983‐2668 [email protected]
DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 6221‐318‐9525 [email protected]
eTRADING SECURITIES A.G. Pahlevi 6221‐574‐1442 [email protected]
GOLDMAN SACHS (Asia) Vincent Chang 852‐2978‐6681 [email protected]
J.P. MORGAN ASIA Aditya Srinath 6221‐5291‐8573 [email protected]
h k dKIM ENG SECURITIES Rahmi Marina 6221‐2557‐1128 [email protected]
MACQUARIE CAPITAL SECURITIES Indonesia Ferry Wong 6221‐515‐7335 [email protected]
MANDIRI SEKURITAS Ari Pitoyo 6221‐5296‐9542 [email protected]
MORGAN STANLEY Edward Goh 65‐6834‐8975 [email protected]
NOMURA A d P h k h 65 6433 6986 d h k h @
80
NOMURA Anand Pathmakanthan 65‐6433‐6986 [email protected]
UBS Joshua Tanja 6221‐570‐2378 [email protected]
The analysts listed above actively follow Bank Mandiri, but not all have issued research reports or formally initiated