PT Bank Mandiri (Persero) Tbk FY 2015 Results Presentation
100
PT Bank Mandiri (Persero) Tbk FY 2015 Results Presentation February 23, 2016
Transcript of PT Bank Mandiri (Persero) Tbk FY 2015 Results Presentation
PT Bank Mandiri (Persero) TbkFY 2015Results Presentation
February 23, 2016
Share Information
∆ from: IPO Dec 31, 2014
BMRI 1,236.60% -17.63%
JCI 761.97% -13.47%
No. of
Investor % No. of shares %
I DOMESTIC
1. Government of RI 1 0.00% 14,000,000,000 60.00%
2. Retail 17,977 82.00% 263,459,960 1.13%
3. Employees 1,816 8.28% 22,727,018 0.10%
4. Cooperatives 8 0.04% 1,426,656 0.01%
5. Foundation 29 0.13% 21,268,745 0.09%
6. Pension Funds 195 0.89% 183,054,830 0.78%
7. Insurance 91 0.42% 433,192,751 1.86%
8. Banks - 0.00% - 0.00%
9. Corporations 134 0.61% 628,711,398 2.69%
10. Mutual Funds 231 1.05% 698,731,242 2.99%
Total 20,482 93.42% 16,252,572,600 69.65%
II INTERNATIONAL
1. Retail 98 0.45% 1,053,749 0.00%
2. Institutional 1,344 6.13% 7,079,706,984 30.34%
Total 1,442 6.58% 7,080,760,733 30.35%
21,924 100.00% 23,333,333,333 100.00%
No. Description
By 31 December 2015
III TOTAL
2
Table of Contents
Results Overview Page #
Indonesia’s Economic Condition 3
FY 2015 Highlights 4
Key Indicators + Financial Highlights 5 – 6
SBU Performance Highlights 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 – 34
Targets & Initiatives 35
Additional Information
Operating Performance Highlights
Supporting Materials
Core inflation remains stable and headline inflation expected to drop
Inflation And Current Account Deficit Appear Manageable
The Current Account Deficit is improving through 4Q15
3Source : CEIC, Bloomberg
GDP expansion remains below the historical average and under pressure
0
2
4
6
8
10
12
14
16
18
20
Dec-0
6
Dec-0
7
Dec-0
8
Dec-0
9
Dec-1
0
Dec-1
1
Dec-1
2
Dec-1
3
Dec-1
4
Dec-1
5
Headline inflation (% YoY)
Core inflation (% YoY)
BI rate (%)
(10)
(5)
-
5
10
15
(15)
(10)
(5)
-
5
10
15
20
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
2Q
15
3Q
15
Capital and Financial AccountCurrent Account (CA)
BoP
4
4.5
5
5.5
6
6.5
7
7.5
8
8.5
9
1Q
06
4Q
06
3Q
07
2Q
08
1Q
09
4Q
09
3Q
10
2Q
11
1Q
12
4Q
12
3Q
13
2Q
14
1Q
15
4Q
15
5.04
7.50
3.353.95
5.82
Cash Management• 15,101 Customers • 61.6 Mn Trx in
2015 (2)
4
Bank Mandiri Remains on Track to Become Indonesia’s Most Admired Financial Institution
Retail Loans (1)
• Rp 175.2 Tn • 32.7% of Loans• High yield loan amounting Rp 114.8 Tn
Subsidiary Income• Total Rp 2.07 Tn• Sum of income from 11 subsidiaries (10.2 % of EAT)
Alliances• Bank Guarantee: Rp 34.7 Tn•Foreign Exchange: Rp 16.4 Tn•Fund Under Management (FUM): Rp 3.6 Tn
e-Channel Tx•2.1 Bn Trx• 16.6% YoY Growth
# of Cards Issued• Credit 3.97 Mn• Debit 13.25 Mn• Prepaid 6.66 Mn
(1) Small Business, Micro and Consumers(2) Excluding Mandiri Transaction System(3) Incl. KSM Centre, MMU Cash outlet and MobilMU
# of Accounts• Deposit 16.92 Mn • Loan 1.62 Mnincluding mortgage accounts of 162,673
# of new Accounts (YTD)• Deposit 4.14 Mn• Loan 609,336
# of Outlets2,457 Branches3,100 Micro Outlets (3)
17,388 ATMs
5
Key Indicators Remain Stable
22
.10
%
24
.40
%
22
.00
%
22
.55
%
22
.23
%
20
.95
%
18
.33
%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Return on Equity (%)
Total CASA (Rp Bn) Non Performing Loan (%)
18
6,4
92
20
1,9
58
25
6,3
95
31
6,1
27
35
9,9
57
38
0,5
12
44
3,8
74
20
09
20
10
20
11
20
12
20
13
20
14
20
15
2.7
9%
2.4
2%
2.2
1%
1.8
7%
1.9
0%
2.1
5%
2.6
0%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
7,1
55
9,2
18
12
,24
6
15
,50
4
18
,20
4
19
,87
2
20
,33
5
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Earning After Tax (Rp Bn)
19
8,5
47
24
6,2
01
31
4,3
81
38
8,8
30
47
2,4
35
52
9,9
73
59
5,4
57
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Total Loans (Rp Bn)
Net Interest Margin (%)
5.0
4%
5.2
8%
5.1
1%
5.4
6%
5.7
4%
5.9
7%
6.0
8%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
6
Key Financial Highlights
Bank Mandiri’s FY 2015 performance across several key indicators:
FY’14 FY’15 %
Loans Rp 529.97Tn Rp 595.46Tn 12.4%
Gross NPL RatioNet NPL Ratio
2.15%0.81%
2.60%0.90%
21.1%11.5%
Low Cost Funds Ratio[Low Cost Funds (Rp)]
59.8%Rp 380.5Tn
65.6%Rp 443.9 Tn
9.8%16.7%
NIM 5.97% 6.08% 1.7%
Efficiency Ratio 44.9% 43.0% (4.3%)
Earnings After Tax Rp 19,872Bn Rp 20,335 Bn 2.3%
7
Balanced Earnings from All Business Units
7681,057 1,154
847
1,853152
893409
2,350
1,426
Treasury and Markets
Corporate Banking
Commercial Banking
Consumer Banking
Micro and Business Banking
Asset Spread Liability Spread
Net Interest Income Analysis 4Q 2015
(Rp Bn)
Net Interest Income
Fee Based Income 4Q 2015
(Rp Bn)
529
1,336
191
440
1,050
Micro and Business Banking
Consumer Banking
Commercial Banking
Corporate Banking
Treasury and Markets
Notes : Due to reorganization of Bank Mandiri, we cannot provide the historical data from the previous years
920
3,197
1,950
1,563
3,279
Deposits by Product – Consolidated(Rp Tn)
Loans by SBU + Subsidiaries(Rp Tn)
97
.1
10
2.9
10
8.8
12
1.9
11
9.8
12
6.5
13
5.4
15
1.8
15
0.4
15
9.9
16
6.2
18
6.9
17
9.9
18
9.8
19
8.8
21
4.7
20
1.9
20
3.0
20
8.0
22
7.7
20
7.3
21
1.0
21
8.1
24
3.7
9.910.811.611.612.312.712.2
12.013.413.614.015.315.8
16.819.0
20.722.123.222.3
24.723.325.429.4
28.04
7.8
50
.3
39
.9
46
.2
45
.3
47
.9
49
.4
67
.3
75
.0
59
.0
63
.0
77
.9
61
.2
74
.6
63
.9
73
.4
67
.2
74
.2
79
.6
78
.9 83
.4
91
.7
90
.7
10
1.2
22.023.122.9
22.225.422.324.0
25.328.228.028.5
36.1
33.3
38.549.2
51.143.545.0
52.049.1
58.175.8
77.6
70.9
12
4.4
12
7.8
12
7.0
14
7.8
14
3.5
14
0.8
14
0.0
14
8.1
12
0.8
13
7.5
13
8.9
15
0.7 15
2.8
15
3.7
15
5.2
17
6.2 17
6.9
19
0.0
20
1.6
22
2.3
22
6.2
22
0.5
21
2.1
20
6.3
11.811.711.1
12.510.312.415.3
17.815.6
20.320.4
16.124.0
29.028.2
20.1
20.0
20.5
27.5
33.730.5
30.526.626.2
020406080
100120140160180200220240260280300320340360380400420440460480500520540560580600620640660680
1Q
'10
2Q
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3Q
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4Q
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2Q
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3Q
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4Q
'14
1Q
'15
2Q
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3Q
'15
4Q
'15
FX Time Rp Time
FX Demand Rp Demand
FX Savings Rp Savings
74
.58
0.7
84
.28
5.4
85
.19
6.2
10
3.2
10
6.2
11
3.0
11
9.2
12
3.2
12
6.3
12
4.7
14
6.9
15
5.2
16
3.7
16
0.8
16
1.3
17
1.9
17
2.1
17
0.7
17
6.8
18
0.9
19
6.6
0.2 0.4 1.3 1.4 1.61.5 1.7 1.4 1.3 1.5 1.6 1.8 1.6
1.5 1.72.0 2.3 1.3
1.3 1.3 0.8 1.0 0.91.4
49
.1
53
.1
57
.5
63
.8
64
.7
70
.1
74
.7
80
.7
82
.5
89
.8
93
.3
10
2.7
10
2.0
10
4.2
11
1.0
11
6.9
11
6.3
12
3.7
12
7.7
14
2.8
14
5.1
14
8.9
14
9.4
16
0.6
24.726.7
28.630.732.434.3
36.339.0
40.743.344.5
47.749.3
52.455.2
56.657.4
60.362.464.7
65.767.769.5
72.3
17.719.3
20.522.723.3
25.8
27.630.2
30.933.1
35.038.438.4
42.543.7 46.5
46.349.0
52.0
56.055.357.9
57.9
60.5
5.66.0
6.57.3 7.7
8.59.5
11.813.1
15.116.8
19.020.7
23.924.9
27.028.2
31.0
32.734.6
37.239.7
40.0
42.5
9.79.1
8.67.8 6.7
6.16.1
4.64.8
4.84.9
4.0 3.9
3.9
4.2
4.2 3.93.9
3.8
3.7 3.83.8 4.1
2.2
20.422.7
24.627.230.3
34.2
38.440.5
40.9
43.646.0
48.9
50.953.5
54.9
55.555.355.5
54.6
54.754.3
57.0
57.9
59.4
020406080
100120140160180200220240260280300320340360380400420440460480500520540560580600
1Q
'10
2Q
'10
3Q
'10
4Q
'10
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'11
2Q
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3Q
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4Q
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Subsidiaries Recovery
Micro Small
Cons Comm
Int'l Corp
Maintaining Momentum for Growth
Y-o-Y
(22.4%)
(7.2%)
44.6%
28.4%
7.0%
Y-o-Y
(41.4%)
7.9%
12.5%
14.2%
*Loans from Treasury & International have been reallocated to Corporate following the reorganization in early 2010
6.9%*
13.3%
12.4%595.5 TnTotal Total
636.4 Tn
676.3 Tn 6.3%
8.6%
8
530.0 Tn
11.7%
22.9%
9
3 Key Areas of Focus for 2020
1) Fee-Based Provision, Commission & Fee2) Excluding Mandiri Transaction System
Deepen Client Relationship
Accelerate Growth Segment
Wholesale Strategy
Group-wide Strategy
Retail Strategy
Integrate The Group
Integrated Wholesale Transaction Bank
Holistic Product Suite
Sector-Led Solutions
Through Expertise-led Client Solutions
Cross-Border Coverage
Supporting Clients’ Regional Needs
Current Achievments (FY 2015)
Total Wholesales Fees Rp 2.6 Tn 1)
Total Wholesale Low Cost Deposits Rp 140.3 Tn.
Growth of Cash Management Transaction21.1.7%2).
Culture of Cross-Selling across Wholesale, Retail and Subsidiaries
Engaging in Integrated Retail Initiatives with Subsidiaries and Business Units to
Drive Cross-Selling
Current Achievments (FY 2015)
Micro
Easy Access & Simple Products
SME
One-Stop Sales & Service
Individual
Growing with our Customers
Current Achievements (FY 2015)
Total Retail Fees of Rp 7.0 Tn 1)
Total Retail Low-Cost Funds Rp 272.4 Tn
YoY increase in E-Channel transaction : 16.6%
Mandiri Business Saving reaches Rp 108.5 Tn
V
V
VV
V
Volume of Business Alliances :
Bank Guarantee : Rp 34.7Tn.
Foreign Exchange : Rp 16.4Tn.
FUM : Rp 3.6 Tn
Income Alliance Wholesale = 49.2%
Auto & 2 W Loan : 325 Bn
# Credit Cards : 359,111
Strong and Liquid Balance Sheet
10
Assets 4Q 2015 4Q 2014 Liabilities 4Q 2015 4Q 2014
Cash 25,109 20,705 Current Account 172,166 128,067
Current Acc w/ BI & Other Banks 66,470 59,586 Savings 271,708 252,445
Placement w/ BI & Other banks 37,388 61,213 Time Deposits 232,514 255,870
Advances (Other) 26,945 26,423
Marketable Securities 43,951 40,767 Total Deposits 676,387 636,382
Government Bonds 103,869 86,154
Loans (Gross) 595,458 529,974 Securities Issued 2,398 2,010
Provisions of Loans (22,558) (17,919) Deposits from other banks 12,954 17,774
Net Loans 572,899 512,055 Borrowings 33,765 24,227
Reverse Repo 677 19,787 Other Int. Bearing Liabilities 12,787 14,427
Other Provisions (2,224) (2,139) Non Int. Bearing Liabilities 52,281 55,375
Deferred Tax Assets 4,835 4,189 Equity incl. Minority Interest 119,492 104,845
Other Assets 30,145 26,301
Total 910,063 855,040 Total 910,063 855,040
Strong Revenue Growth
11
Summary P&L (Rp Bn) 4Q 2015 3Q 2015 4Q 2014 FY 2015 FY 2014FY Y-o-Y
(%)4Q Y-o-Y
(%)Q-o-Q
(%)
Interest Income 18,933 18,066 17,363 71,570 62,638 14.3% 9.0% 4.8%
Interest Expense 6,022 6,814 6,536 26,207 23,506 11.5% (7.9%) (11.6%)
Net Interest Income 12,911 11,252 10,827 45,363 39,132 15.9% 19.3% 14.7%
Net Premium Income 696 886 697 3,137 2,681 17.0% (0.1%) (21.4%)
Net Interest Income & Premium Income 13,607 12,138 11,524 48,500 41,813 16.0% 18.1% 12.1%
Other Non Interest Income
* Other Fees and Commissions 2,443 2,546 2,534 10,015 9,132 9.7% (3.6%) (4.0%)
* Foreign Exchange Gains - Net 844 533 399 2,238 1,588 41.0% 111.2% 58.1%
* Gain fr. sale & Incr. in Val & Sale of Bonds 178 (134) 111 257 381 (32.5%) 60.3% N/A
* Others 2,015 2,182 1,132 6,126 3,968 54.4% 78.0% (7.7%)
Total Non Interest Income 5,479 5,127 4,176 18,636 15,069 23.7% 31.2% 6.9%
Total Operating Income 19,086 17,265 15,700 67,136 56,882 18.0% 21.6% 10.5%
Provisions, Net (3,552) (4,495) (1,779) (12,043) (5,529) 117.8% 99.7% (21.0%)
Personnel Expenses (3,444) (2,903) (2,807) (12,377) (10,848) 14.1% 22.7% 18.6%
G&A Expenses (3,730) (3,322) (3,488) (12,800) (11,448) 11.8% 6.9% 12.3%
Loss from decr. in value of Sec & Gov Bonds - - - - - - - -
Other Expenses (906) (744) (620) (3,578) (3,078) 16.2% 46.1% 21.6%
Total Expense (8,080) (6,970) (6,914) (28,755) (25,374) 13.3% 16.9% 15.9%
Profit from Operations 7,455 5,800 7,007 26,339 25,978 1.4% 6.4% 28.5%
Non Operating Income 23 5 10 30 30 1.8% 145.2% N/A
Net Income Before Tax 7,478 5,805 7,016 26,369 26,008 1.4% 6.6% 28.8%
Net Income After Tax 5,752 4,658 5,418 20,335 19,872 2.3% 6.2% 23.5%
LDR Increased to 87.7%, Bank-Only Loan Growth of 12.8%
82
.7
93
.6
92
.5
10
3.1
11
0.4
11
1.7
11
8.6
12
5.2
12
9.3
13
1.7
12
9.9
15
1.9
15
3.5
16
9.7
16
6.7
16
6.3
17
6.8
17
7.0
17
5.1
18
1.4
18
5.8
20
0.1
50
.6 64
.7
64
.5 70
.7 75
.3
81
.1
82
.9 90
.1
93
.6
10
3.0
10
2.3 10
4.4
11
8.2
11
7.1
11
6.5
12
3.9
12
7.9
14
2.9
14
5.2
14
9.1
14
9.5 16
0.7
17.4
22.8 24.5
25.927.7
30.330.9
33.235.1
38.538.5
42.544.1
46.546.3
49.052.0
56.155.3
57.957.9
60.5
5.4
7.3 7.78.5
9.511.8
13.115.1
16.819.020.7
23.924.9
27.028.231.0
32.734.537.2
39.740.0
42.5
23
.6
30
.7
32
.4 34
.3 36
.3 39
.0 40
.7 43
.3 44
.5 47
.7
49
.3
52
.4 55
.2 56
.6
57
.4 60
.3 62
.4 64
.7
65
.7 67
.7
69
.5
72
.3
4Q'0
9
4Q'1
0
1Q'1
1
2Q'1
1
3Q'1
1
4Q'1
1
1Q'1
2
2Q'1
2
3Q'1
2
4Q'1
2
1Q'1
3
2Q'1
3
3Q'1
3
4Q'1
3
1Q'1
4
2Q'1
4
3Q'14
4Q'1
4
1Q'1
5
2Q'1
5
3Q'1
5
4Q'1
5
Corporate Commercial Small Micro Consumer
Quarterly Loan Segment Details(Bank Only)
Y-o-Y
11.7%
23.0%
7.8%
12.4%
13.1%
12.8%Total
13.5%
7.9%
11.3%
30.0%
37.3%
Breakdown
As of December 2015; Non-consolidated numbers
12
19
8.5
24
6.2
25
1.8
27
6.7
29
7.5
31
4.4
32
7.2
35
0.4
36
5.2
38
8.8
39
1.6
42
8.7
45
0.8
47
2.4
47
0.4
48
5.8
50
6.5
53
0.0
53
2.8
55
2.8
56
0.6
59
5.5
61.4%
67.6%
70.2%75.9%
78.7%
74.1%
80.7%
83.4%
84.4%
80.1%
83.5%
85.0%
87.3%
84.5%
88.0%
85.3%
82.9%
84.4%
84.1%
85.3%
87.7%
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Loans (Rp Tn) LDR (%)
5.5% 6.2%2.3%
9.9%
7.5%5.7%
4.1%7.1%
4.2%
6.5%
0.7%
9.5%
5.1%
4.8%
-0.4%
3.3%
4.2%
4.6%
0.5%
3.7%1.4%
6.2%
13.8%
24.0%24.7%
26.9%28.3%
27.7%
30.0%
26.6%
22.8%
23.7%
19.7%22.3%
23.4%
21.5% 20.1%
13.3% 12.4%
12.2%13.8%
10.7%
12.4%
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
QoQ Growth (%) YoY Growth (%)
Quarterly Loan Data(Consolidated)
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
76
.90
78
.52
87
.79
78.3%
68.5%
61.9%
68.2%
71.7%
76.3%
80.7%
86.6%
82.9%
91.5%
89.0%
75.8%
76.0%
76.2%
75.4%
76.4%
68.0%
65.1%
64.3%
69.0%
72.0%
71.3%
74.2%73.2%
66.8%
61.1%
61.0%
73.1%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
Mar 0
9
Jun
e 09
Sep 0
9
Dec 0
9
Mar 1
0
Jun
e 10
Sep 1
0
Dec 1
0
Mar 1
1
Jun
e 11
Sep 1
1
Dec 1
1
Mar 1
2
Jun
12
Sep 1
2
Dec 1
2
Mar 1
3
Jun
13
Sep 1
3
Dec 1
3
Mar 1
4
Jun
e 14
Sep 1
4
Dec 1
4
Mar 1
5
Jun
15
Sep 1
5
Dec 1
5
20
30
40
50
60
70
80
90
Loan Fx LDR FX
Prudent Management of FX Balance Sheet
USD Bn
Rp TnBreakdown of FX lending (Bank-Only)4Q ’15 (Total USD 6.37 Bn)
0.04
0.05
0.07
0.21
0.38
0.58
0.62
0.71
0.73
1.19
1.79
Utilities
Soc Serv
Constr
Bus Serv
Trans
Mining
Agri
Oth
Trading
Oil & Gas
Mfg
% (YoY)
18%
-11%
34%
6%
62%
-11%
-3%
-36%
-27%
832%
-78%
FX Loans & LDR (Bank-Only)
13
14
Rp 105.75 Tn in Loans Disbursed in 4Q 2015
502.78
105.75
24.34
31.94 9.98 4.67 1.57
536.03
3Q'15 Disburs. Install. Payment Pay-off FX Impact
Write-Offs
4Q '15
Loan Movement– 4Q 2015 Bank-OnlyRp Tn
Loan Disbursement by Segment – 4Q 2015 Bank-OnlyRp Tn
51.96
30.22
9.59
7.82
6.15
105.75
Corporate Commercial Small Micro Consumer Total
42
.6
58
.1
72
.5
91
.9
10
8.9
11
5.9
11
2.2
13
4.0
17
2.9
19
5.8
24
2.4
35
2.5
40
0.2
49
1.3
51
4.9
57
7.3
13
.3
15
.4
17
.0
25
.5
27
.5
27
.4
28
.4
28
.3
27
.2
30
.5
35
.7
53
.3
62
.0
73
.9
85
.7
10
7.4
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
RWA (Rp Tn) Total Capital (Rp Tn)
15
Rp Bn
18.3% ROE, Supported By a Strong Capital Position
Bank Only - Capital & RWA Movement Profit After Tax & ROE
21.5%
26.2%23.6%
22.8%
2.5%
10.0%
15.8%18.1%
22.1%
24.2%
22.0%
22.6% 22.2%21.0%
18.3%
• CAR inclusive of Credit and Market Risk started in December 2004• CAR inclusive of Credit, Market and Operational Risk started in January 2010
*1.1Tn from GIAA Recovery
3081,168 1,549 1,744
519 510 1,027 1,390 1,4002,003
2,681 3,4034,303
4,925 5,138
1,300602
6901,329
97 305
1,1131,221 1,526
2,031
2,543 3,744
3,991
4,6604,786
967
1,017
1,528
1,408
610 372
1,040 1,345
1,693
2,352
2,850
3,972
4,509
4,869 4,658
645799
819
775
-623
1,234
1,166
1,390
2,536
2,833
3,073
4,385
5,401
5,4185,753
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Q4 PATQ3 PATQ2 PATQ1 PAT
31.3%26.4%
23.4%
27.7%25.3%
23.2%
24.6%20.8%
15.7%15.4%
13.4%
15.3% 15.5%
14.9%
16.6% 18.6%
CAR
1,099*
5.3
%
5.8
%
5.1
%
5.4
%
5.2
%
5.4
%
5.2
%
5.5
%
5.8
%
5.7
%
5.5
%
5.3
%
5.7
%
6.1
%
5.9
%
5.9
%
5.8
%
5.9
%
5.4
%
5.8
%
5.7
%
6.7
%
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
NIM
9.4%
9.6%8.7%
9.0%
8.7%
8.7%8.2%
8.1%
8.4% 8.2%
8.1%
7.8%
8.3%
9.0%
9.1%
9.2%
9.6%
9.56%
9.08%
9.19%
9.21%
9.80%
4.3%
3.8%
3.8%
3.8%3.7%
3.4%3.2%
2.8%
2.7%
2.7%
2.8%
2.6%
2.8%3.1%
3.3%3.5%
3.9%3.82%
3.88%
3.58%
3.66%3.26%
Yield on Assets
Cost of Funds
16
Q4 NIM of 6.7% as Yield on Assets Increases
6.4%
7.2%
5.1%4.9%
4.7%
5.3%
4.8%
5.4%
5.0%
4.9%
4.8%4.5%
4.5%
5.1%
4.4%
4.5%
4.5%
6.6%
4.2%
4.3%
4.4%
6.4%
1.5%
0.7%0.5%
0.3%0.5%
0.6% 0.6%0.6%
0.7%0.7%
0.7%0.6%
0.6%
0.7%0.8%
0.7%
0.7%
0.9%
1.1%0.8%
0.7%
0.7%
0%
5%
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
13.2%
12.2%
13.1% 12.7%
12.5% 11.6%
12.1%
11.9%
12.5%
11.2%
10.8%11.1%
11.8%
11.8%
12.0%
12.4%
12.1%
12.2%12.2%
12.1%
6.7%
6.5%
6.5%
5.9% 4.9%4.1% 3.9% 3.3%
4.0%3.4%
3.9%4.7%
5.3%5.4%
5.9% 5.7%6.0%
6.4% 6.4%6.7%
6.9%
4.7%
4.2% 4.3% 3.9%3.7%
3.0% 3.1%3.3% 3.9% 4.1% 4.4%
4.5%
4.3%3.8%
0%
5%
10%
15%
20%
Avg Loan Yield Avg Bond Yield Avg COF
* Starting on 4Q2014, we backout the LPS premium from the interest expense** If we backout the interest income from RGM, our NIM would be 6.5%, YoA would be 9.5%, Average FX Loan Yield would be 4.2%
Greater Detail On Fee-Based Income
17
Non-Loan Related Fees & Commissions4Q 3Q 4Q FY FY FY Y-o-Y 4Q Y-o-Y Q-o-Q
2015 2015 2014 2015 2014 (%) (%) (%)
Administration Fees 840 805 707 3,087 2,704 14.2% 18.8% 4.4%
Opening L/C, BG & Cap Market (custodian & trustee) 308 272 258 1,111 931 19.3% 19.7% 13.5%
Subsidiaries (9) 292 339 1,031 1,481 (30.4%) (102.6%) (103.0%)
Transfer, Retail Transaction 599 480 543 1,992 1,626 22.5% 10.3% 24.9%
Credit Cards 382 386 410 1,547 1,427 8.4% (6.9%) (1.0%)
Mutual Fund, ORI & Bancassurance 109 85 94 388 353 10.2% 16.8% 28.4%
Syndications 80 34 52 214 137 56.1% 54.5% 135.0%
Payroll Package 20 21 18 77 74 3.8% 9.6% (5.5%)
Others 113 171 113 567 398 42.4% 0.0% (33.7%)
Total 2,443 2,546 2,534 10,015 9,132 9.7% (3.6%) (4.0%)
Foreign Exchange Gains 844 533 399 2,238 1,588 41.0% 111.2% 58.1%
Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds 178 (134) 111 257 381 (32.5%) 60.3% N/A
Cash Recoveries 1,161 731 771 3,041 2,607 16.6% 50.6% 58.8%
Other Income 854 1,451 361 3,085 1,361 126.7% 136.3% (41.1%)
Total Fee Based Income (As Reported) 5,479 5,127 4,176 18,636 15,069 23.7% 31.2% 6.9%
% of Non Loan Related fees to total opr. Income 28.7% 29.7% 26.6% 27.8% 26.5%
18
1,3
84
1,6
82
1,5
24
1,5
10
1,8
83
2,1
07
1,6
14
2,0
04
2,0
71
2,5
65
2,0
34
2,3
22
2,3
75
3,1
67
2,3
09
2,6
93
2,9
58
3,4
88
2,5
74
3,1
73
3,3
22
3,7
30
1,3
28
1,6
12
1,5
47
1,6
31
1,6
71
1,9
03
1,8
65
1,9
39
1,8
69
2,3
72
2,0
42
2,3
36
2,6
79
2,3
74
2,6
26
2,6
62
2,7
52
2,8
07
2,9
20
3,1
09
2,9
03
3,4
44
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
G&A Expenses Personnel Expenses
4Q Cost to Income Ratio of 42.7%
Breakdown of 4Q 2015 Operating ExpensesQuarterly Consolidated Operating Expenses & CIR
(Rp Bn) (Rp Bn)
43.2%
45.1%
32.4%
37.3%
39.0%41.6%
44.0%
43.2% 42.7%
51.3%
41.1%
43.1%
42.5%
48.4%
41.8%43.2%
46.6%44.4%
44.4%
45.2%
40.1%
42.7%
CIR (%)
4Q 2015
4Q 2014
FY 2015
FY 2014
Growth
QoQ4Q
YoYFY
YoY
Personnel Expenses
Base Salary 786 675 3,137 2,725 (1.1%) 16.5% 15.1%
Other Allowances 1,485 1,261 5,806 5,151 3.6% 17.8% 12.7%
Post Empl. Benefits 191 82 475 308 92.1% 132.6% 54.1%
Training 287 187 485 429 190.2% 53.9% 13.0%
Subsidiaries 694 602 2,473 2,235 45.9% 15.3% 10.7%
Total Personnel Expenses 3,444 2,807 12,377 10,848 18.6% 22.7% 14.1%
G&A Expenses
IT & telecoms 484 441 1,817 1,504 (1.0%) 9.9% 20.8%
Occupancy Related 889 787 2,810 2,412 27.6% 12.9% 16.5%
Promo & Sponsor 426 357 1,149 1,100 42.3% 19.5% 4.5%
Transport & Travel 184 209 634 656 17.7% (11.8%) (3.2%)
Goods, Prof. Svcs. & Oth. 550 517 1,633 1,599 20.0% 6.5% 2.1%
Employee Related 494 491 1,991 1,811 (3.6%) 0.7% 10.0%
Subsidiaries 702 686 2,766 2,366 (1.1%) 2.2% 16.9%
Total G&A Expenses 3,730 3,488 12,800 11,448 12.3% 6.9% 11.8%
Other Expenses 906 620 3,578 3,078 21.6% 46.1% 16.2%
Total Operating Expenses 8,080 6,914 28,755 25,374 15.9% 16.9% 13.3%
Top 10 Segments in Corporate Lending Expansion4Q ’15 – 4Q ’14 (Total Rp23.11 Tn)
Rp Bn608
625
899
971
1,824
2,070
2,636
3,120
4,586
7,119
Bus Serv
Agri Equip
Soc Serv
Mfg-Metal
Mfg-P&P
Mfg-Chem
Mfg-RawM
Plantations
Trad-Exp
Mfg-F&B
%
30.80%
19.84%
13.50%
11.40%
8.96%
7.89%
4.20%
3.89%
2.70%
2.63%Rp Bn
Top 10 Segments in Commercial Lending Expansion4Q ’15 – 4Q ’14 (Total Rp17.78 Tn)
841
884
988
1,027
1,160
1,355
1,406
1,420
2,202
6,952
Trad-Exp
Soc Serv
Mfg-Text
Trad-Distr
Mfg-Metal
Mfg-RawM
Mfg-F&B
Trad-Imp
Mfg-Chem
Plantations
%
39.1%
12.4%
8.0%
7.9%
7.6%
6.5%
5.8%
5.6%
5.0%
4.7%
Diversifying our Strength in Wholesale Lending…
19
Wholesale Transactions Driving CASA
20
Wholesale CASA Deposits(Rp Bn)
58
,05
5
62
,25
7
61
,69
1
53
,60
4
74
,11
6
89
,95
9
74
,33
4
73
,19
2
14
0,2
78
(10,000)
10,000
30,000
50,000
70,000
90,000
110,000
130,000
150,000
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
91.7% YoYGrowth
74
5
2,4
14
4,0
66
6,1
53
7,7
84
10
,94
3
11
,89
9
12
,93
2
13
,62
9
13
,87
3
14
,10
5
14
,39
7
14
,67
6
15
,10
1
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
Cash Management Users
24
8
67
7
1,1
78
2,2
01
2,6
57
3,5
98
3,9
89
4,4
84
4,8
32
5,1
23
5,2
66
5,3
84
4Q
10
4Q
11
4Q
12
4Q
13
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
Average # of Cash Management Tx(000), total 16.2 Mn transactions in
4Q 2015*)
*) Excluding Mandiri Transaction System
Growing Volume in Wholesale Transaction Business
21
Forex
34
42
63
61
56
41
281,153310,512
322,795 399,500 379,730 348,436
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15
Value (USD Bn) # of Trx
Wholesale Remittance
70
94
12
1
13
5
14
6
12
6
435,866 448,219
599,909 651,241
739,046 730,011
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15
Value (USD Mn) # of Trx
Mandiri Cash Management*
54
9
81
8
1,5
19
2,2
31
3,1
20
3,7
78
2,503 7,668
13,676
24,543
44,184
61,599
-25,000
-15,000
-5,000
5,000
15,000
25,000
35,000
45,000
55,000
65,000
-
500.0
1,000.0
1,500.0
2,000.0
2,500.0
3,000.0
3,500.0
4,000.0
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15
Value (Rp Tn) # of Trx (000)
Trade Transactions : Export, Import, Domestic
*) Excluding Mandiri Transaction System
85
11
0
12
5
13
3
13
7
12
7
495,813
510,916 517,251 520,948
509,207
468,870
440,000
450,000
460,000
470,000
480,000
490,000
500,000
510,000
520,000
530,000
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15
Value (USD Bn) # of Trx
Retail Deposits Decreased by 4.7% Y-o-Y
22
95
.5
10
9.6
10
7.3
11
2.7
12
0.4
13
4.0
13
2.7
14
0.6
14
6.1
16
5.0
15
7.5
16
6.8
17
6.3
19
0.9
17
9.0
18
0.8
18
4.7
20
2.6
18
2.5
18
6.0
18
8.0
20
9.8
8.1
11.0 11.7 11.911.5
11.3 12.712.8 13.0
13.714.7
15.618.4
20.721.0 22.0 21.8
24.0
22.2 23.2 24.3
23.1
9.4
11.1 10.511.9
12.2
15.7 14.615.4
16.1
18.617.0
16.7
28.6
33.029.7 33.6 34.4
40.2
33.5 36.4 25.0
31.9
3.33.2 3.5 3.5
4.1
4.24.3
4.3
10.7
11.4
12.111.9 13.1
13.0
12.814.4
7.8
7.6
68.5
70.5 69.068.6
70.8
73.1 71.670.3
71.5
71.472.1
70.7
80.2
84.588.4
100.1108.3
120.0
119.2116.0
110.0
110.3
6.8
5.85.3
5.25.2
5.3 5.05.0
5.1
5.04.7
4.6
6.4
7.06.3
7.07.2
9.5
9.0 7.8
7.7
7.4
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
340
360
380
400
420
440
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
Rp Savings Deposits FX Savings Deposits Rp Demand Deposits
FX Demand Deposits Rp Time Deposits FX Time Deposits
Retail Deposit Analysis – Bank Only
3.3%
2.5% 2.3% 2.4%2.2%
2.8%
2.0% 1.9%1.7%
2.2%1.8%1.9% 2.0%2.0%2.0%
2.1%
1.9%
2.1%
2.1%
2.6% 2.2%2.4%2.1%
1.5% 1.5% 1.5% 1.5% 1.5% 1.4% 1.3% 1.2%
7.2%
6.7%6.5% 6.5%
6.3%5.0%
5.1%
4.9%5.5%
6.6%
7.0%
8.3%
7.9%
7.8%
7.4%
7.5%
7.2%
0%
5%
10%
15%Rp DD
Rp Savings
Rp TD
Average Quarterly Deposit Costs (%)
0.6%
0.1% 0.1%0.1% 0.2%0.3% 0.3% 0.3% 0.3%
0.3% 0.4%
1.9%
0.5%0.5%0.4%
0.7% 0.8% 0.7% 0.6% 0.8% 0.8%1.2% 1.3%
1.8%
1.2%0.8% 0.6%
0%
2%
4%
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
FX DD FX TD
63.3%
63.8%64.9%
66.1%
66.5%
69.6%70.1% 71.6%
72.9%
73.0%
73.7%
71.9%
68.8%
68.4%
66.2%
67.7%
65.1%
67.3%
CASA as % of total deposits
23
60
,67
6
63
,32
3
66
,85
1
73
,32
4
81
,04
6
84
,67
5
91
,50
4
96
,26
8
10
5,1
92
10
8,4
34
11
8,7
88
12
3,8
33
13
0,1
58
13
1,8
57
14
0,1
89
14
6,7
44
15
5,3
38
15
8,1
73
16
5,3
04
16
7,4
29
17
5,2
11
27.7%
28.6%
27.6%
28.3%
29.6%
29.6%
29.8%30.2%
30.9%
31.8% 31.7%
31.3% 31.2%
31.8%
32.6%32.5%
32.7%
33.1%
33.3%33.3%
32.7%
20%
22%
24%
26%
28%
30%
32%
34%
30,00040,00050,00060,00070,00080,00090,000
100,000110,000120,000130,000140,000150,000160,000170,000180,000190,000200,000
4Q
20
10
1Q
20
11
2Q
20
11
3Q
20
11
4Q
20
11
1Q
20
12
2Q
20
12
3Q
20
12
4Q
20
12
1Q
20
13
2Q
20
13
3Q
20
13
4Q
20
13
1Q
20
14
2Q
20
14
3Q
20
14
4Q
20
14
1Q
20
15
2Q
20
15
3Q
20
15
4Q
20
15
Retail to Total Loans
Building our High Yield Business in Retail Lending
Retail to Total Loans
Micro Credit Business Banking ConsumerFinance
(Rp Bn)
64,706 72,250
7,544
4Q 2014 Growth 4Q 2015
YoY11.7%
Consumer Finance
(Rp Bn)
Business Banking
56,037 60,454
4,417
4Q2014 Growth 4Q2015
YoY7.9%
(Rp Bn)
Micro Credit
34,59642,507
7,911
4Q2014 Growth 4Q2015
YoY22.9%
Strong Microfinance Growth
24
20
0
30
0
50
2
68
7
89
8
99
4
60
0
80
0
80
0
87
8
92
8
1,0
27
1,1
27
1,4
27
10
15
2
48
0
71
0
76
0
75
1
70
6
67
3
6
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Branch Unit Kiosk Cash Outlet
Customers (000)Network # Of New Customers
73
,56
6
79
,50
0
76
,32
5
94
,85
5
74
,03
7
11
0,0
00
1
21
,00
7
14
6,3
59
1
26
,50
9
14
0,0
64
1
31
,71
5
14
7,8
25
1
38
,74
7
16
0,6
20
1
36
,19
6
16
2,1
81
1
40
,88
6
16
7,1
45
1
58
,90
9
16
2,7
38
1
34
,50
1
13
8,5
00
9
7,1
64
1
27
,82
8
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
2Q
'15
3Q
'15
4Q
'15
271
430
562
694
815
889
1,009
1,112
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
…as well as Consumer Lending, which Rose 11.66% Y-o-Y as Auto Lending Remains Strong
25
13
,50
0
14
,26
8
15
,52
3
16
,46
6
17
,77
9
18
,76
4
20
,11
3
20
,91
9
22
,81
8
24
,09
2
26
,13
5
27
,35
7
26
,99
5
26
,69
0
26
,50
5
26
,34
7
26
,49
5
26
,20
7
26
,34
0
26
,36
9
26
,83
2
3,9
57
3,9
64
3,9
79
3,9
49
3,8
87
3,7
77
3,6
79
3,5
71
3,4
71
3,3
65
3,3
12
3,2
40
3,1
81
3,1
72
3,1
98
3,2
40
3,3
10
3,3
26
3,4
32
3,5
34
3,7
39
6,3
74
6,3
98
6,7
08
6,8
61
6,9
95
7,1
43
7,4
12
7,7
53
8,2
06
8,3
86
8,9
58
9,3
74
9,7
81
10
,03
0
10
,64
2
11
,25
3
11
,88
0
12
,20
1
12
,83
8
13
,40
8
14
,10
3
3,5
89
3,5
75
3,7
61
3,9
10
4,2
96
4,2
45
4,4
92
4,5
90
5,0
35
5,0
25
5,1
95
5,3
03
5,6
20
5,5
57
6,8
55
7,5
68
8,2
88
8,3
43
8,7
51
8,6
83
8,9
70
2,8
26
3,4
54
3,4
92
4,2
00
5,1
15
5,8
29
6,5
93
6,6
09
7,2
09
7,4
86
7,9
05
9,0
13
10
,21
8
11
,08
3
12
,26
0
13
,27
1
13
,98
3
14
,89
0
15
,63
0
16
,64
1
17
,60
8
447 698 791
873 928
964 1,016 1,037
1,010 966
927 904
809 840 805
765 750 683
733 892
998
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
70,000
75,000
80,000
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
2Q
'15
3Q
'15
4Q
'15
OtherAutoCredit CardsPayroll LoansHome Equity Loans
Loan TypeGrowth (%)
Y-o-Y Q-o-Q
Other 19.94% 5.78%
Auto Loans* 25.92% 5.81%
Credit Cards 8.22% 3.30%
Payroll Loans 26.58% 5.64%
Home Equity Loans 12.97% 5.81%
Mortgages 1.27% 1.75%
Total Consumer 11.66% 3.92%
Quarterly Consumer Lending Balances by Type Consumer Lending Growth by Type
Rp 72.3 Tn
*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 8.2 Tn in our Commercial Portfolio
Enhanced Transaction Capabilities
26
Quarterly Transaction Value (Rp Tn) Quarterly Users (Mn)
95.5
122.2
147.7 153.8
170.0
179.3
191.2 192.6
208.1 210.0
241.5 245.0
2.1 3.5 4.1 5.0 6.6 8.3 10.5
17.6 28.3
35.7
38.9
53.0
7.1 14.0
18.1 23.5 26.8
29.4 33.3 33.3 34.5
46.7
32.6 35.0
0
20
40
60
80
100
120
140
160
180
200
220
240
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
ATM
Mobile Banking
Internet Banking
7.7
8.6 8.2
9.2
10.0
10.6
11.1 11.6
11.8
12.4 12.6 12.6
3.2
4.7 4.9
5.3 5.6 5.8
6.1 6.3
6.5 6.7 6.8 6.9
1.2 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0
0
2
4
6
8
10
12
14
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
Debit Cards
Mobile Banking
Internet Banking
Quarterly Transaction Volume (Mn)
142
157
184
189
212 218
233 235
246 249
268
293 295
39
36 44
41 43 41 39 44
51
53
47 48 50
12 18
23 26 32 31 34
57
70
113
172
196
17
42
55
78 85
67 76
81 89
117
102
117
0
25
50
75
100
125
150
175
200
225
250
275
300
4Q
'09
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
3
Q '1
44
Q '1
41
Q '1
52
Q '1
53
Q '1
54
Q '1
5
ATM
Branch
Mobile Banking
Internet Banking
27
Retail Payment System Gaining Traction
Volume Mandiri BusinessSaving Account (Rp Tn)
Numbers of EDC
23,690
27,611 33,732
47,127
92,903
180,532
230,352
270,352
286,861
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Fee Income from e-channel Tx (Rp Bn)
52.1 89.4 126.2 200.3 258.2 315.2 347.6 414.7 604.3
65.5 98.5
166.6 196.5
285.7 318.6
382.0 490.3
663.4
81.9110.5
194.5
249.3
313.9361.8
437.5
489.2
683.3
89.0117.8
223.7
268.5
312.8
464.4
512.9
664.8
771.0
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Q4 Q3 Q2 Q1
32.2% YoY
Growth
3.5 4.88.0
17.7
34.7
59.4
85.8
102.3 108.5
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
6.1%YoY
Growth
Making Inroads into SME and Retail Payments
28
Fiesta Point Program
A program to get points based on savings average balance and # of transactions through e-channel or branch, so that customer has the opportunity to earn immediate prizes.
Mandiri Belanja Untung Program
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 into the national lucky draw.
Belanja Hoki/ Dagang Hoki Program
Co-promotion with the ITC Group for the merchants and the buyers who transact in ITC using Mandiri Debit and also a reward program for the building management.
# MTB Transaction & Volume
20
1,1
06
21
2,8
44
26
1,9
35
26
5,4
23
27
2,2
12
29
0,0
19
30
6,8
31
34
9,8
68
29
9,4
17
32
2,5
87
30
8,8
32
34
8,0
59
9,235 10,601
11,385 12,616
12,773
14,068
14,508 16,052
15,996 17,444
17,101
18,373
-
3,000
6,000
9,000
12,000
15,000
18,000
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
# of Volume # of Transactions (000)
# MIB Transaction Value & Users
# SME Business w/ Mandiri Acc
543,972
643,334
789,300 845,073
2012 2013 2014 2015
18
,52
8
25
,85
7
32
,27
3
42
,58
2
47
,30
4
53
,12
4
57
,44
7
73
,66
6
79
,97
0
88
,01
3
79
,17
3
89
,38
9
11,535 13,542
15,312 15,97117,802
18,216 22,570
24,676 26,441 28,122
27,59129,040
1Q '132Q '133Q '134Q '131Q '142Q '143Q '144Q '141Q '152Q '153Q '154Q '15
Transaction Value (Rp Bn) # of Active Users
29
14
,05
81
3,4
51
13
,50
21
5,9
18
1
7,2
55
1
7,1
24
1
9,5
59
1
8,8
38
1
8,8
86
1
8,8
24
1
9,0
54
1
6,9
24
1
4,8
46
1
4,2
92
1
3,3
36
1
2,9
86
1
3,9
44
1
3,6
06
1
5,6
76
1
4,8
56
1
5,6
26
1
6,9
89
1
7,6
72
1
7,7
55
1
9,2
72
2
1,5
86
2
3,8
25
2
2,9
58
2
7,1
16
2
9,5
49
2
8,5
47
2
7,0
78
11.5%
10.0%
9.2%
9.1%
9.8%
9.4%
10.4%
9.5%
9.4%
8.6%
8.2%
6.9%
5.9%
5.2%
4.5%
4.1%
4.3%
3.9%
4.3%
3.8%
4.0%
4.0%
3.9%
3.8%
4.1%
4.4%
4.7%
4.3%
5.1%
5.3%5.1%
4.5%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
1Q
'08
2Q
'08
3Q
'08
4Q
'08
1Q
'09
2Q
'09
3Q
'09
4Q
'09
1Q
'10
2Q
'10
3Q
'10
4Q
'10
1Q
'11
2Q
'11
3Q
'11
4Q
'11
1Q
'12
2Q
'12
3Q
'12
4Q
'12
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
Special Mention Special Mention Ratio
NPL Movement - Consolidated
5.1
4%
4.7
4%
4.4
4%
4.7
3%
5.8
5%
4.7
8%
3.7
9%
2.7
9%
2.5
6%
2.5
4%
2.6
0%
2.4
2%
2.6
0%
2.4
2%
2.5
6%
2.2
1%
2.2
2%
2.0
7%
2.0
4%
1.8
7%
2.0
8%
1.8
9%
1.9
0%
1.9
0%
2.0
7%
2.2
3%
2.1
6%
2.1
5%
2.2
7%
2.4
3%
2.8
1%
2.6
0%
116.0%
122.5%
138.9%127.1%
116.6%
136.1%
155.2%
206.0%
191.7%192.4%
155.5%
185.1%
185.1%
189.6%193.4%
185.5%
187.6%185.3%
170.3%
157.4%157.1%
150.5%
137.7%136.2%
145.5%
1Q
'08
2Q
'08
3Q
'08
4Q
'08
1Q
'09
2Q
'09
3Q
'09
4Q
'09
1Q
'10
2Q
'10
3Q
'10
4Q
'10
1Q
'11
2Q
'11
3Q
'11
4Q
'11
1Q
'12
2Q
'12
3Q
'12
4Q
'12
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
Gross NPL Ratio Prov/NPL
Gross NPLs 2.60%, Coverage at 145.5% - Category 2 at 4.5%
Category 2 Loans
Non-Performing Loans by Segment
* Excluding loans to other banks 30
Q4 2015 Total NPLs of Rp 12.28 Tn with Rp 1.57 Tn in Write-Offs
Movement by Customer Segment (Rp Bn)Movement by Customer Segment (Rp Bn)
12.15
1.14 3.00
0.31
1.570.16 12.28
3Q' 2015 UG to PL DG to NPL Payment Write-Offs Other 4Q' 2015
Non-Performing Loan Movements (Rp Tn) – Bank-Only
772
315
118
1,542
599
111
422
200
48
507
288
92
217
486
-
500
1,000
1,500
2,000
2,500
3,000
3,500
UG to PL DG to NPL W/O
Corp Comm Small Micro Cons
NPLs 4Q NPLs
(Rp tn) (Rp tn) (%)
Corporate 2.60 (0.59) 1.30%
Commercial 4.60 0.79 2.86%
Small 2.28 0.00 3.76%
Micro 1.54 0.06 3.61%
Consumer 1.27 (0.12) 1.76%
Total 12.28 0.13 2.29%
31
Total Loans originated since 2005
Net Upgrades(%)/Downgrades(%)# 4Q 2015 Details
LoanBackground
4Q’15Balance(Rp Bn)
4Q2013
1Q2014
2Q2014
3Q2014
4Q2014
1Q2015
2Q2015
3Q2015
4Q2015
DG to NPL%
UG toPL%
Corporate 192,762 0.00 0.10 - - 0.06 - 0.11 0.38 0.24 0.16 0.40
Commercial 154,795 0.01 0.08 0.04 0.12 0.37 0.13 0.95 0.83 0.77 0.85 0.08
Small 57,622 0.64 0.97 0.70 0.45 0.31 1.29 1.17 1.24 0.54 0.73 0.18
Micro 42,487 0.89 1.16 1.26 1.19 0.83 1.25 1.37 1.50 1.08 1.19 0.11
Consumer 72,024 0.07 0.35 0.20 0.20 0.09 0.28 0.23 0.25 0.17 0.30 0.13
Total 519,690 0.13 0.30 0.21 0.20 0.25 0.33 0.60 0.68 0.31 0.53 0.22
4Q 2015 Annualized Net Downgrades of 1.3% on Loans Originated Since 2005
# % downgrades and upgrades are quarterly % figures
32
Restructured Loans
17
.1
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
.7
11
.2
11
.5
10
.2
11
.8
14
.4
20
.9
26
.4
28
.9
5.0
10.0
15.0
20.0
25.0
30.0
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
Restructured Loans
Downgrade to Non-Performing After being Restructured
14.9%
17.2%
16.2%
13.0% 12.8%
17.6%
13.5%
0.8%0.2%
3.9%
0.2%
5.5% 5.7%
1.6%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
% NPL in Restructured Loan % DG to NPL After Being Restructured
Enhancing Synergies & Value from Subsidiaries
33
Total Assets
Rp70.4 Tn
Bond Trading Volume
Rp55.6 tn
Total Assets
Rp22.3 Tn
Total Loans
Rp1.6 Tn
Total Financing
Rp17.1Tn
Total Financing
Rp51.1 Tn
Equity & FI Underwriting
Rp13.7 tn
Annual FYP
Rp3,005 Bn
Net Interest Margin
9.6 %
Net Interest Margin
3.47%
Total Deposits
Rp62.1 Tn
Equity Trading Volume
Rp116.5 tn
ROA
5.8%
ROA
1.71%
ROA
5.13%
ROE
5.92%
ROE
1.4%
ROE
69.6%
ROE
4.76%
ROE
29.8%
• Remains the leader in syariah financing
• Capital injection program over 3 years
• Cross-selling syariahproducts 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
• Providing end-to-end bank assurance business
• Continue to build cross-sell opportunities in various segments
• Bancassurance products to complete our suite of consumer offerings
• Enhancing operating model
• Improving risk management systems and IT
• Improving productivity
• Penetrate Bank Mandiri’s network and customer base to develop the multifinance segment with a strong focus on new 4 wheel vehicles.
Investment BankingSyariah Banking Insurance Niche Banking Multi-Finance
AXA Mandiri Financial Services Performance
34
90
2
45
2
35
1
71
1
83
2
37
2
55
2
58
2
34
2
62
2
59
2
98
2
70
2
69
2
56
3
48
2
97
3
16
3
08
3
60
2
74
2
47
3
94
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
2Q
'15
3Q
'15
4Q
'15
Net Profit After Tax (Rp Bn)Annual First Year Premium (AFYP) (Rp Bn) # of Policy Holders
59
9
54
9
67
3
82
0
74
2
76
9
94
6
79
6
89
2
71
2
66
7
69
5
85
0
72
6
77
4
61
1
83
2
87
4
64
8
64
8
81
6
71
9
82
2
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
2Q
'15
3Q
'15
4Q
'15
81
0,6
04
8
92
,58
2
1,5
18
,53
6
1,6
02
,77
8
1,6
38
,54
3
1,6
95
,24
2
1,7
44
,12
4
1,7
90
,50
8
1,8
58
,70
2
1,8
78
,12
1
1,9
18
,70
3
1,9
66
,69
8
2,0
32
,63
5
2,1
22
,56
3
2,2
16
,64
8
2,3
54
,39
5
2,4
79
,16
1
2,6
56
,67
2
2,9
61
,90
6
3,1
62
,35
4
3,3
60
,00
0
3,4
65
,38
5
3,7
10
,14
7
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
2Q
'15
3Q
'15
4Q
'15
20.18% YoYGrowth
27.92% YoYGrowth
25.26% YoYGrowth
Bank Mandiri’s 2016 Corporate Guidance
2015 Target 2015 Realization 2016 Target
Gross Loan Growth (YoY) 11%-13% 12.4% 12% - 14%
Low Cost Deposits Rp 420 Tn Rp 444 Tn Rp 480 Tn
Net Interest Margins >5.80% 6.08% 5.80% - 6.00%
Efficiency Ratio <45% 43.00% <45.0%
Gross NPLs 2.5%-3.0% 2.60% 2.5% - 3.0%
Cost of Credit 1.9%-2.1% 2.12% 1.9%-2.1%
# of New ATMs 2,500 2,044 1,500
# of New EDCs 40,000 55,544 50,000
# of New Micro Outlets 300 355150
# of New Conventional Branches 50 145
35
37
Corporate Banking:Generating Strong Asset Spread
Performance to Date: FY 2015 (Rp Bn) Strategies for 2016
1. Focusing on Anchor Clients and penetrating through using of Transaction Banking
2. Account Plan implementation for top 76 Corporate Banking Customers.
3. Provide ‘one stop service’ solutions for customer’s transactions and create new business process to accelerate the execution of Account Plan including effective and responsive Complaint Handling.
4. Strengthen business alliance with Mandiri InHealth & Mandiri DPLK to ease corporate customers to manage their needs in health insurance & pension fund / severance
4,661
2,698
1,630 674
8,315 418
7,897
38
InHealth – Opportunity to Increase Fee Income and Contribute to the Insurance Portfolio
Leveraging our institutional, corporate, & commercial customers
Providing solutions through our banking products to InHealth healthcare provider
Cross-selling Mandiri products to InHealth members
We have over 700 institutional, 300 corporate, and 1,700commercial customers with the potential to become membersof InHealth
• InHealth has over 7,072 healthcare providers and recordedover Rp 954 Bn in claims year to date 2015
• Bank Mandiri will leverage the hospital network as InHealth’spartner to increase transactions through enhanced cashmanagement products
• Bank Mandiri also will provide retail packaged products forall the doctors as InHealth’s partner
InHealth earned premium payments of Rp 1,432 Bn in 2015year to date from clients. Going forward, Bank Mandiri willencourage the use of cash management products throughBank Mandiri’s distribution channels and cross sell otherproducts to over 940,696 InHealth members.
69
2,8
31
1,0
23
,22
8
1,1
75
,24
0
1,1
18
,20
6
1,1
41
,89
6
1,0
87
,31
3
94
0,6
96
5,501 6,242 6,314 6,262 6,094 6,189
7,072
-
2,000
4,000
6,000
8,000
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
2009 2010 2011 2012 2013 2014 2015Total Member # of Providers
36 78 47 107 120 203 153
203
811
1,073 1,203
1,410 1,400 1,432
0
50
100
150
200
250
-
200
400
600
800
1,000
1,200
1,400
1,600
2009 2010 2011 2012 2013 2014 2015
Profit (Rp Bn) GWP (Rp Bn)
39
1. Integrated Wholesale Transaction Banking.
2. Broaden product offering and services.3. Acquire RMB License for Bank Mandiri
Shanghai Branch.4. Open new Distribution Channel in
BMHK.5. Increased capacity and business
processes for distribution and retail brokerage.
6. New product innovations to improve alliances and synergies with Mandiri Group.
Treasury & Market
3,624
3,679 551
6,753107
6,620
Performance to Date: FY 2015 (Rp Bn) Strategies for 2016
Mandiri Sekuritas’ financial performance
Q4 2015 Q42014 *) Y-o-Y (%)
Revenues 588 652 (10%)
• Investment Banking 142 139 2%
• Capital Market 268 312 (14%)
• Proprietary 3 65 (95%)
• Investment Mgt 175 135 29%)
Operating Expenses 506 452 12%
Earnings After Tax 15 93 (84%)
Equity Transactions – bn 116,543 129,037 (10%)
SUN Transactions - bn 55,570 75,685 (27%)
Equity & Bonds Underwritten – bn
13,711 8,751 57%
ROA 1.1% 5.5% (79%)
ROE 1.4% 9.5% (84%)
(Rp Bn)
40*As restated from auditor
Commercial Banking:Strong revenues from Assets
41
1.Support Bank Mandiri’s Wholesale Banking vision as an Integrated Wholesale Bank through sophisticated, customized and complete services leading to increased revenue through Wholesale Deposit generation and Fee Income.
2.Increasing profit and market share through increasing existing customer’s share of wallet, increasing revenue from new customer’s and managing NPL’s.
3.Provide the best total business solutions for commercial customers by developing products and services including quality bundling of products, quick service and competitive pricing.
4.Effective Alliance in units based on customer base in Commercial segment, especially in developing value chain business.
Performance to Date: FY 2015 (Rp Bn) Strategies for 2016
5,772
1,272
1,213 472
7,785
3,299
4,486
Commercial Banking :Stronger Platform & Improved Distribution Capability
42
Expanding Scope of Distribution, Q4 2015Solid & Stable Source of
Low Cost Funds
ProductQ4
2015
Q4 *
2014 Growth
Demand Deposit
38.12 32.14 18.61%
Rupiah 20.87 20.42 2.20%
FX 17.25 11.72 47.18%
Saving Deposit**
8.56 4.62 85.28%
Total CASA 46.68 36.76 26.99%
Total Funding 63.63 55.50 14.65%
CASA Ratio = 73.36%Funding from Java & Bali = 73.71% of total funding
SumateraLoans = Rp 25,9 tnFunds = Rp 9.7 tn
KalimantanLoans = Rp 8.0 tn Funds = Rp 4.6 tn
EasternLoans = Rp 4.5 tnFunds = Rp 2.5 tn
Java and BaliLoans = Rp 122,2 tnFunds = Rp 46.9 tn
* Resegmentasi** Business Savings Product
CBC = 24 Unit
Floor = 23 Unit
43
1. Continue to develop retail payment solutions for top retail industry value chains and business clusters in order to increase low cost deposit and fee-based income
2. Develop customer education to further increase usage of new retail products (e.g., pre-paid) as well as e-channel transactions in order to increase customer’s loyalty and balances.
Micro & Business Banking:Rapidly growing our high margin business
Performance to Date: FY 2015 (Rp Bn) Strategies for 2016
7,333
4,590
2,068
3,144
10,847
3,692
7,155
Business Banking :
44
Medan
Makassar
Banjarmasin
Surabaya
Semarang
Denpasar
Bandung
Pekanbaru
Palembang
B.Lampung
Pontianak
Samarinda
Manado
Palu Jayapura
Balikpapan
Batam
Jambi
Pematang siantar
Padang
BekasiJakarta
Solo
Tangerang
Bogor
Branch Models that covered SME Customers
M-1 Branch : 75
M-2 Branch : 89
M-3 Branch : 164
Expanding Scope of Distribution, 2015Solid & Stable Source of
Low Cost Funds*
ProductQ4
2014
Q4
2015
GrowthYTD
Demand Deposit
25.6 36.4 42.2%
Saving Deposit
66.1 74.3 12.4%
Total CASA 91.7 110.7 20.7%
Total Funding
121.7 133.2 9.5%
Rp Tn
CASA Ratio = 83,2%Funding from Java & Bali = 75.2% of total funding
SumateraLoans = Rp 14.6 tnFunds = Rp 16.7 tn
KalimantanLoans = Rp 9.3 tn Funds = Rp 6.4 tn
EasternLoans = Rp 8.0 tn
Funds = Rp 10.0 tn
Java and BaliLoans = Rp 28.5 tn
Funds = Rp 100.2 tn
* Numbers are restated after Resegmentation in Jul 2015
45
BSM Addressing Asset Quality Issues
10
.31
13
.28
16
.06
23
.97
36
.73
37
.44
39
.93
41
.82
44
.50
46
.30
48
.40
49
.70
50
.46
49
.82
49
.60
49
.32
49
.13
48
.80
50
.40
50
.60
51
.09
4Q
'07
4Q
'08
4Q
'09
4Q
'10
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
2Q
'15
3Q
'15
4Q
'15
Financing
91
.1%
89
.1%
83
.1%
82
.7%
86
.2%
87
.2%
92
.2%
93
.9%
93
.9%
95
.6%
94
.2%
91
.3%
89
.4%
90
.3%
89
.9%
85
.7%
82
.1%
81
.7%
85
.3%
84
.5%
82
.0%
FDR
Syariah Financing (Rp tn)
Financial Performance (Rp bn)
FY ’08 FY ’09 FY ’10 FY’11 FY’12 FY’13 FY’14 FY’15
Financing 13,278 16,063 23,968 36,664 44,755 50,460 49,133 51,090
Deposits 14,899 19,338 28,999 42,618 47,409 56,461 59,821 62,113
Assets 17,066 22,037 32,482 48,672 54,229 63,965 66,942 70,369
EAT 196.42 290.94 418.52 551.07 805.69 651.24 71.78 289.58
Ratios:
ROA (%) 1.83 2.23 2.21 1.95 2.25 1.53 0.17 0.56
ROE (%) 21.34 21.40 25.05 24.24 25.05 15.34 1.49 5.92
Gross NPF 5.66% 4.84% 3.52% 2.42% 2.82% 4.32% 6.83% 6.06%
Net Interest Margin & Cost of Funds
YoA
CoF
NIM
6.3
%
6.3
%
6.6
%
6.6
%
7.5
%
6.9
%
6.9
%
7.0
%
7.3
%
7.1
%
7.3
%
7.2
%
7.3
%
6.3
%
6.2
%
6.0
%
6.2
%
6.3
%
6.3
%
6.4
%
6.5
%
4Q
'07
4Q
'08
4Q
'09
4Q
'10
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
2Q
'15
3Q
'15
4Q
'15
12
.4%
13
.0%
12
.7%
12
.3%
13
.0%
11
.5%
12
.0%
12
.2%
12
.4%
12
.3%
12
.4%
12
.1%
12
.0% 1
1.1
%
11
.1%
11
.0%
10
.9%
10
.6% 10
.0%
10
.6%
10
.9%
5.4
%
5.7
%
5.6
% 5.1
%
5.2
%
4.5
%
4.7
%
4.5
%
4.5
%
4.6
% 4.0
%
4.0
%
4.1
%
4.4
%
4.5
%
4.5
%
4.4
%
4.4
%
4.3
%
4.2
%
4.2
%
46
Consumer Banking:Significant growth in spread and fee income
1. #1 in Auto with new product and 2Wsubsidiary build up
2. #1 position in Credit Card withinnovation and portfolio optimization
3. #1 in mortgage via new segments andmandiri synergies
4. Drive growth in personal loans via newproducts and distritbution.
5. #1 bank for Indonesia’s Gen-Y6. Recognized innovator in banking-
unbanked.7. Extend #1 position in wealthy and
affluent.
Performance to Date: FY 2015 (Rp Bn) Strategies for 2016
11,660
6,291 2,071
15,881 1,765
14,116
Mandiri Tunas Finance: Total Financing YTD of Rp17.14Tn
47
Total Disbursement and the Breakdown for Joint Financing and Non JF Breakdown of Financing 4Q 2015 Performance
(Rp Bn) 4Q2015
4Q2014
Change
Loans 26,758 21,160 26.46%
Net Income 307 234 31.20%
Approval Rate (%) 86.15% 89.38% -3.61%
Disbursement 17,142 14,775 16.02%
NIM (%) 3.47% 3.28% 5.81%
ROA (%) 5.13% 4.74% 8.17%
ROE (%) 29.79% 29.69% 0.35%
CER (%) 45.33% 44.82% 1.14%
NPL (%) 1.20% 1.15% 4.56%
37
55
66
85
29
66
1,1
46
58
73
02
78
25
75
76
88
47
61
1,0
54
1,1
10
1,0
16
52
31
,50
61
,19
91
,40
91
,60
01
,45
41
,90
91
,02
02
,21
7
39
83
41
42
56
06
69
41
,30
6 1,3
69
1,6
56
1,5
30
1,5
92 9
81
1,7
71
1,4
78
1,7
28
2,2
24 2,4
56
2,0
56
2,4
08
2,2
06
2,3
91 2
,23
61
,93
63
,09
42
,97
5
Q1
'10
Q2
'10
Q3
'10
Q4
'10
Q1
'11
Q2
'11
Q3
'11
Q4
'11
Q1
'12
Q2
'12
Q3
'12
Q4
'12
Q1
'13
Q2
'13
Q3
'13
Q4
'13
Q1
'14
Q2
'14
Q3
'14
Q4
'14
Q1
'15
Q2
'15
Q3
'15
Q4
'15
JF
Non JF
40
55
39
80
61
,10
11
,37
01
,36
41
,24
51
,35
51
,35
31
,60
91
,42
02
,07
52
,10
52
,41
62
,87
12
,67
83
,29
03
,37
43
,39
83
,82
43
,54
93
,73
23
,97
55
,06
2
30
93
06
35
13
72
35
04
22
34
23
12
37
34
86 39
64
01
37
23
45
28
9 23
22
08
16
21
49
10
8 96
71
82
73
61 79
118
99
118 109 84 67 60
72
49
56 56
76
80 70
64 70 68
60
45 41
57
56
Q1
'10
Q2
'10
Q3
'10
Q4
'10
Q1
'11
Q2
'11
Q3
'11
Q4
'11
Q1
'12
Q2
'12
Q3
'12
Q4
'12
Q1
'13
Q2
'13
Q3
'13
Q4
'13
Q1
'14
Q2
'14
Q3
'14
Q4
'14
Q1
'15
Q2
'15
Q3
'15
Q4
'15
Motorcycle
Used Car
New Car
We are Preparing For Our Next Transformation
2009
2005
Market Cap: IDR 60 TnRevenue Market Share: 8%Net Profit: IDR 2.41 TnROE: 10%Gross NPL: 16.3%
Market Cap: IDR 136.9 Tn Revenue Market Share: 13.4%Net Profit: IDR 9.22 TnROE: 24.24%Gross NPL: 2.42%
2020Top Bank In ASEAN
Market Cap: >IDR 225 Tn Revenue Market Share: 14–16%ROE: >25%Gross NPL: <4%
49
2014
• Building a winning organization• Delivering tailored proposition
for priority segments• Building alliances• Strengthening risk management
• Wholesale transaction banking• Retail payment & deposits• Retail financing
• Business transformation• Developing integrated Human Capital & IT
• Focusing on non-organic growth
1st Transformation
2nd Transformation
3rd Transformation
…But We Need to Consider Growing Beyond the Bank
• Revenue Growth FY (Whole Group): Rp66.9Tn (18% YoY)
• Profit from Subsidiary: Rp2.09Tn (10.3% of EAT)
• FY Revenue Wholesale vsRetail : Rp 24.3Tn vs Rp 32.7Tn
Our Deal size has continued to move higher
• BSHB Rp 40bn (2008)
• MTF Rp250 bn (2009)
• Inhealth Rp 1.3 tn (2013)
Bank & Group
Finding Business Partners
M & A
• JV with AXA (AMFS). Gross Written Premiums Rp1.5tn. +27% YoY
• JV with Tunas Ridean (MTF). Total Financing Rp4.1tn. 15% YoY
• InHealth partner BPJS
50
51
13,607
5,302
8,080
10,829
Net Interest Income Fee-Based Income Overhead Expenses & Others
Pre-provision Operating Profit
4Q 2015 Operating Profit Increased By 24.8% from 4Q 2014 on Higher NII
4Q 2015
Notes :
1. Fee based income excluding gain on sale & increasing value GB & securities
2. Overhead expenses + others excluding provisions
4Q 2014
Higher24.8%
11,524
4,066
6,914
8,675
Net Interest Income Fee-Based Income Overhead Expenses & Others
Pre-provision Operating Profit
Rp Bn Rp Bn
Committed to Improving Shareholder Value
Reduce Cost of Funds
Improve Assets Yield
Diversify into Fee Income
Reduce Provision/Loan
Improve Cost Efficiency
Leverage on cash generator (wholesale) to accelerate growth
Diversity into fee income
Competitive.
sustainable
returns. with
above-average
rates of growth
Business Strategy
Strategic Alliances
Support Strategy
52
…and Offer Innovative Payment Solutions
53
E-Money is the re-branding of prepaid Mandiri cards launched in October 2012.
Can be used for Toll-road Transactions(Jabodatabek). Parking (ISS Parking). Bus (Trans Solo & Trans Jogja). Fuel (Pertamina Gas Stations). Retail Shops (Indomaret. Alfamart. Alfamidi. Lawson. Superindo). Restaurants (Solaria. Excelso. Es Teller 77).
Can be owned by all customers & non customers with a maximum balance of Rp 1 million. Recharge available at MandiriATM. ATM Bersama. E-money machines. and E-money merchants.
Pre-Paid Card Volume (000s)
359 506 775
2,118
4,015
3,988
4,833
4,926 5,275
6,159
7,891
13,662
16,802
18,012
3,966
5,908
8,146
11,680
18,356
20,211
22,11221,752
22,741
21,15620,679
19,460
20,542
20,502
23,864
24,644
27,260
29,110
12 149 175 161
139136 131 321467
484456
4551,502
2,231
4,346
6,421
8,332
14,874
18,261
20,981
22,777
24,508
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
2Q
'15
3Q
'15
4Q
'15
Indomaret
e-Toll
Gaz
e-Money
Pre-Paid Transaction Volume (000s)*
*volume for quarter
517627
688773
846
9811,093
1,412
1,4871,564
1,6631,752
1,8291,899
1,976
2,112
2,249
2,478
2,693
2,892
204
368 506
693
920
1,0981,226
1,3121,409
1,5641,633
1,722
1,8671,960
2,0122,110
2,202
4848 49 50
50
5858
59
59
6464 84 84
84
8485
85
489
120 152
392
644
890
1,0611,124
1,240
1,382
Mar-1
1Ju
n-1
1Sep
-11
Dec-1
1M
ar-12
Jun
-12
Sep-1
2D
ec-12
Mar-1
3Ju
n-1
3Sep
-13
Dec-1
3M
ar-14
Jun
-14
Sep-1
4D
ec-14
Mar-1
5Ju
n-1
5Sep
-15
Dec-1
5
Indomaret
e-Toll
Gaz
e-Money
Strong Microfinance Growth
Outstanding – Rp Tn
4.4 5.47.3
11.8
19.0
27.1
36.0
42.5
2.02%2.29%
2.76%
3.91%
6.25%
9.77%
11.00%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
8.50%
9.00%
9.50%
10.00%
10.50%
11.00%
11.50%
12.00%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
Mandiri Microfinance Outstanding
Mandiri Market Share
54*based on OJK publication market data (micro small medium business/ UMKM)
1,3
47
1
,64
6
1,6
45
2
,19
5
1,8
26
2
,52
2
2,7
91
4,2
08
3,3
97
4
,52
5
4,4
35
5
,76
4
5,1
36
7
,05
7
5,1
87
6
,87
7
5,6
89
8
,52
7
7,0
39
7
,73
2
5,9
74
5
,94
5
4,0
05
6
,33
7
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
2Q
'15
3Q
'15
4Q
'15
Booking
Booking Volume – Rp Bn
16.5%
16.5%
17.3%
16.9%
17.9% 17.7%
17.1%
21.0%20.8%
20.6%20.2%
18.7%
14.4%
14.3%
14.0%
14.2%
13.2%
13.2% 13.2%
13.2%
11.0%
11.3%
10.8%
10.6%
Asset Spreads(%)
2005 2009 CAGR2005-2009
2010 2014CAGR
2010-2014 2015YoY
Growth
Assets 263,383 394,617 10.6% 449,775 855,040 17.4% 910,063 6.4%
Loans 106,853 198,547 16.8% 246,201 529,973 21.1% 595,458 12.4%
Deposits 206,290 319,550 11.6% 362,212 636,382 15.1% 676,387 6.3%
Revenues 10,835 22,261 19.7% 28,504 56,501 18.7% 66,879 18.4%
ROE 2.52% 22.06% 72.0% 24.24% 20.95% (3.6%) 18.33% (12.5%)
Gross NPL Ratio 25.20% 2.79% (5.60%) 2.42% 2.15% (2.9%) 2.60% 20.9%
Net NPL Ratio 15.34% 0.42% (3.73%) 0.62% 0.81% 6.9% 0.90% 11.1%
LDR 51.72% 61.36% 2.41% 67.58% 82.86% 5.2% 87.68% 5.8%
EAT 603 7,155 85.6% 9,218 19,872 21.2% 20,335 2.3%
Subsidiary EAT N/A 434 22.2% *) 994 1,086 2.2% 2,085 92.0%
Rp Billion
Our Growth Remains On Track
*) CAGR based on EAT 2006 Rp. 238.28 bn
55
Building a Strong Savings Deposit Franchise…
Savings Deposit Growth Transaction channel growth
10
6.5
12
3.5
12
1.5
13
9.2
14
7.6
16
3.8
16
3.9
17
3.4
18
0.2
20
2.2
19
5.7
20
6.6
21
7.7
23
6.6
22
4.0
22
6.2
23
0.2
22
9.5
20
8.3
21
4.1
22
4.0
24
6.3
35.5%37.1%
37.3%38.4%
39.2%
38.8%
40.6%41.5%
41.8%
41.9%
41.9%41.1%
42.3%
42.5%
42.1%
40.7%39.0%
39.8%36.6%
36.0%
37.7%
40.2%
17.6%
16.8%
17.3%
16.9%
16.9%
16.6%
16.7%
16.7%
16.5%
17.0%
16.8%
17.5%17.4%
17.7%
17.5%
17.6%
17.3%
17.9%
17.3%
17.6%
18.0%
4Q
'09
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
2Q
'15
3Q
'15
4Q
'15
Savings Deposits (Rp tn)
As % of Total Deposits
National Share of Savings Deposits (%)
1,4
72
1,5
57
1,6
79
1,6
89
1,6
97
1,8
10
1,8
55
1,9
66
1,9
54
1,9
54
2,0
21
2,0
45
1,9
96
2,0
96
2,0
96
2,1
29
2,1
41
2,2
91
2,4
32
2,4
21
157.6168.3
182.7 197.3 219.9236.8 247.1
278.2 279.4 283.0285.4 299.3 296.4
314.2 306.5 315.9 339.4
356.3
364.6391.2
82.585.4
92.9 91.2 112.6128.1
136.9
147.2 139.6 136.4151.4 145.4 143.2
138.1 140.1143.4141.1
133.2
179.9150.9
35.17 37.90
43.38 46.07 51.46
67.25 68.00
70.43 74.03 70.65 74.79 79.33
78.32 86.89 91.67
94.25 100.38
112.16
144.33 184.10
Other Payment
Transfer Withdrawal / Inquiry
Avg ATM Daily Vol (000)
7.5
01
9.6
23
11
.05
7
12
.86
8
13
.62
5
27
,32
5
32
,21
3
34
,50
5
30
,77
2
32
,99
5
34
,13
3
48
,97
5
57
,43
6
74
,68
9
70
,03
4
10
0,1
49
13
3,9
70
16
8,3
30
17
1,6
59
19
6,0
00
3,0843,2582,9533,2193,1793,2353,2183,3303,2033,2233,1813,119
3,047
3,2113,185
3,266
2,907
2,9273.181
2,678
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
2Q
'15
3Q
'15
4Q
'15
Quarterly Call Center Trans. (000)
Quarterly Mobile Trans. (000)
56
Rp Billion
Consumer Loans from Alliance Program(10 top corporate clients)
Total Payroll in 2010-2015(*) Rp Billion
Co-Branding Prepaid Card Program
Leveraging Cash Generator to Accelerate High Yield Growth and Deposit Franchise
(*) Including all payments to the employees
57
4,0
67
4,3
24
4,8
78
5,6
65
6,4
82
6,7
16
7,5
34
8,7
72
9,7
10
10
,36
8
11
,11
4
11
,72
0
12
,17
8
12
,43
6
13
,09
2
13
,75
0
14
,31
8
14
,88
6
15
,69
2
16
,39
7
17
,04
7
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
2Q
'15
3Q
'15
4Q
'15
10
,23
1
10
,53
3
11
,50
0
12
,28
1
15
,46
9
15
,75
6
22
,08
5
24
,23
0
23
,96
8
24
,10
6
25
,65
6
26
,12
7
25
,65
6
27
,44
6
27
,97
5 23
,38
5
27
,29
8
27
,37
2 21
,08
8
23
,22
0
30
,23
0
Dec '1
0
Mar '1
1
Jun
'11
Sep '1
1
Dec '1
1
Mar '1
2
Jun
'12
Sep '1
2
Dec '1
2
Mar '1
3
Jun
'13
Sep '1
3
Dec '1
3
Mar '1
4
Jun
'14
Sep '1
4
Dec '1
4
Mar '1
5
Jun
'15
Sep '1
5
Dec '1
5
Regulation Summary: Capital Based on Risk Profile. Business Activity & Branch Networking
Risk Profile CAR Min
1 – Low 8%
2 – Low to Moderate 9% - < 10%
3 – Moderate 10% - < 11%
4 – Moderate to High & 5 - High 11% - 14%
Bank Mandiri is under the “LOW to MODERATE” risk profile
“BUKU” Tier 1 Capital
1 < Rp 1 Trillion
2 Rp 1 Trillion - < Rp 5 Trillion
3 Rp 5 Trillion - < Rp 30 Trillion
4 ≥ Rp 30 Trillion
Bank Mandiri is under “BUKU 4”. Minimum 70% loans and financing to the productive sector required to be met at the end of June 2016.
Branch Sub Branch Cash Office Total
Zone 1 21 286 114 421
Zone 2 38 609 109 756
Zone 3 15 110 20 145
Zone 4 29 164 32 225
Zone 5 18 124 11 153
Zone 6 12 54 5 71
Total 133 1347 291 1771
Branch Networking by Zone*
Bank Mandiri’s Capital Requirement Based on our Risk Profile Bank Mandiri Capital Requirment
*At October 31. 2012
58
Continuous End to End Improvement in the Micro Business
• Scorecard Refinement
•Training & Capacity Development of Managers
•MKA Revitalization (focus on credit analysis & verification)
•Loan Factory for Fixed Income Loan
•FIN-1 Collection System
•Change in Organization
•Crash Program for NPL debtors settlement
Origination & Targeting
Maintenance & Review
Collection
Operational Risk
Building New Business
•1,444 MKS/MMC/Back Office/Other Position and 247 Managers
•Biweekly RTTA (Risk. Threshold. Trigger & Action Plan) Review Forum
•Mobile Sales and Maintenance System for MKS
•Incentive Scheme Refinement
•Post Transaction Control (Welcome Call)
•Savings
•Pension Loans
•Joint Cooperation with Mandiri AXA General Insurance (MAGI)
•Joint Cooperation with Bank Syariah Mandiri (BSM) – for Gold Pawning
•3,720 EDC (hand held) rolled out
•Early Warning System Development
59
60
3.96 Million Cards Drove Rp 7.39 Tn in Transaction
Mandiri Visa & Mastercards and EOQ Receivables
3,5
75
3,7
61
3,9
10
4,2
96
4,2
45
4,4
92
4,5
90
5,0
35
5,0
25
5,1
95
5,3
03
5,6
20
5,5
57
6,8
55
7,5
66
8,2
88
8,3
44
8,7
51
8,6
83
8,9
70
2,081
2,1562,358
2,446 2,570
2,685 2,972
3,0323,083
3,1553,275
3,4353,602
3,665
3,727
3,817
3,890
3,969
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
2Q
'15
3Q
'15
4Q
'15
Receivables (Rp tn)
Cards (000s)
3,0
32
3,4
21
3,6
69
4,0
80
3,7
82
4,1
67
4,4
62
5,0
53
4,8
32
5,1
66
5,2
66
5,3
15
5,1
74
6,7
49
7,2
30
7,5
30
6,9
49
7,2
29
7,0
76
7,3
94
53
5356
5554
5353
5960
63 66 69 76
125
171
302
303295
276291
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
2Q
'15
3Q
'15
4Q
'15
Transfer Balance
Cash Advance
Retail
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
61
Strengthening Risk Management & Monitoring System
Corporate Customer by Rating Summary of Risk Management Initiatives
Credit
Market
Operational
• ORM implementation in all unit. incl. overseas offices & subsidiaries
• Bring Op. Risk top issues into Management• Review Op. Risk on new procedures & new products
• Development of risk measurement system for derivative & structured product (Summit)
• Implement Market Risk Internal Model• Intraday Limit Monitoring• Enhance Policy & Procedure for Treasury & ALM • Enhance FTP (Fund Transfer Pricing) method• Develop liquidity stress test & safety level• Develop measurement of capital for IRBB
• 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 up loan factory. enhanced business process (incl. tools. monitoring & collection system. policy )
• Optimize capital by implementing ERM & VBA• Consolidate risk management of subsidiaries
High Risk (Rating C- G)
Medium Risk (Rating BBB – B)
Low Risk (Rating AAA – A)
51%64% 68%
60%69%
91%84% 80% 81%
72%
34%
24% 21%25%
24%
7%13% 16% 16%
24%
15% 12% 11% 15%7% 2% 3% 4% 3% 4%
0%
20%
40%
60%
80%
100%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
62
Key Quarterly Balance Sheet Items & Financial Ratios
* Bank Only
IDR billion / % (Cons) FY 2015 9M 2015 FY 2014 YoY
Gross Loans 595,457 560,630 529,973 12.4%
Government Bonds 103,869 101,079 86,154 20.6%
Total Assets 910,063 905,759 855,040 6.4%
Customer Deposits 676,387 654,595 636,382 6.3%
Total Equity 119,492 113,137 104,845 14.0%
RoA – before tax (p.a.) 3.00% 2.85% 3.39% (12.0%)
RoE – after tax (p.a.) 18.33% 17.89% 20.95% (12.5%)
Cost to Income 43.00% 43.10% 44.91% (4.3%)
NIM (p.a.) 6.08% 5.81% 5.97% 1.7%
LDR 87.68% 85.32% 82.86% 5.8%
Gross NPL / Total Loans 2.60% 2.81% 2.15% 21.1%
Provisions / NPLs 145.54% 136.18% 157.11% (7.4%)
Tier 1 CAR * 16.15% 15.33% 15.35% 5.2%
CAR Under Basel III - - - -
Total CAR incl. Credit, Opr & 18.60% 17.81% 16.60% 5.8%
Market Risk*
EPS (Rp) 872 625 852 2.3%
Book Value/Share (Rp) 5,121 4,849 4,493 14.0%
63
17
6.9
15
3.5
14
8.8
12
2.9
93
.1
92
.1
90
.6
89
.5
88
.3
88
.4
88
.2
88
.4
89
.1
86
.8
83
.5
82
.2
78
.1
78
.2
77
.9
78
.1
78
.5
78
.4
80
.4
77
.9
78
.9
79
.2
79
.6
82
.2
82
.2
90
.6
89
.0
87
.6
86
.2
10
0.1
10
0.1
10
1.1
10
3.9
43
.0
48
.3
65
.4
65
.4 75
.9
10
6.9
11
7.7
13
8.5
17
4.5
17
5.2
18
1.6
18
8.3
19
8.5
20
1.9
21
8.0
23
1.9
24
6.2
25
1.8
27
6.7
29
7.5
31
4.4
32
7.2
35
0.4
36
5.2
38
8.8
39
1.6
42
8.7
45
0.8
47
2.4
47
0.4
48
5.8
50
6.5
53
0.0
53
2.8
55
2.8
56
0.6
59
5.5
27
.0 33
.4
60
.5
36
.1
50
.6
64
.5
59
.2
91
.1
95
.7
84
.1
89
.0
89
.8
10
6.9
11
0.6
10
0.6
95
.3
12
5.5
13
6.1
12
0.3
12
6.4
15
9.1
14
1.3
14
0.9
14
5.3
16
7.9
16
9.7
16
3.9
16
7.1
17
8.4
16
8.4
19
0.1
20
4.1
23
8.9
23
5.4
26
1.2
24
4.1
21
0.7
0
100
200
300
400
500
600
700
800
900
1000
4Q
'00
4Q
'01
4Q
'02
4Q
'03
4Q
'04
4Q
'05
4Q
'06
4Q
'07
4Q
'08
1Q
'09
2Q
'09
3Q
'09
4Q
'09
1Q
'10
2Q
'10
3Q
'10
4Q
'10
1Q
'11
2Q
'11
3Q
'11
4Q
'11
1Q
'12
2Q
'12
3Q
'12
4Q
'12
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
Government Bonds Loans Other Assets
75.4%75.4%
74.1%
60.6%
40.9%
47.1%
34.8%
13.4%11.2%
8.5%
6.1%
7.3%
7.2%
6.0%
6.5%
7.3%
7.7%
8.5%
8.0%
7.1%
6.9%7.7%
7.5%
7.4%7.4%
19.0%19.0%
34.1%46.9%
50.1%52.2%
56.8%
57.2%
63.6% 68.3%
76.0%
71.7%
76.5%
75.5%79.5%
90.9%
83.4%
88.6%
87.9% 89.1%
88.6%84.6%
87.3%87.4%
85.5%
85.8%
86.1%86.5%
Int. from Bonds Int. from Loans
Total Assets Grew 6.4% Y-o-Y to Rp 910.0 TnTo
tal A
sset
s (R
pTn
)
Consolidated
64
Additional Factors
Aggregate of Rp 40.814 Tn (US$ 2.961 Bn) in written-off loans as of end-of December 2015, with significant recoveries and write back on-going:
2001: Rp 2.0 Tn 2002: Rp 1.1 Tn 2003: Rp 1.2 Tn 2004: Rp 1.08 Tn 2005: Rp 0.818 Tn (US$ 83.2m) 2006: Rp 3.408 Tn (US$ 378.5m)* 2007: Rp 1.531 Tn (US$ 249.3m) 2008: Rp 2.309 Tn (US$ 211.8m)
Q4 ‘09: Rp 0.775 Tn (US$ 82.5m) Q1 ‘10: Rp 0.287 Tn (US$ 31.6m) Q2 ‘10: Rp 0.662 Tn (US$ 73.0m) Q3 ‘10: Rp 0.363 Tn (US$ 40.7m)** Q4 ’10: Rp 1.349 Tn (US$149.7m) Q1 ‘11: Rp 0.468 Tn (US$53.8m) Q2 ‘11: Rp 0.446 Tn (US$51.9m) Q3 ‘11: Rp 0.508 Tn (US$57.8m) Q4 ‘11: Rp 0.78 Tn (US$86.1m) Q1’12: Rp 1.647 Tn (US$180.1m) Q2’12: Rp 0.721 Tn (US$76.8m) Q3’12: Rp 0.489 Tn (US$51.1m) Q4’12: Rp 0.885 Tn (US$91.8m)
Recoveries of Written off
Loans
Q1’13: Rp 0.918 Tn (US$94.5m) Q2’13: Rp 0.683 Tn (US$68.8m) Q3’13: Rp 0.630 Tn (US$54.4m) Q4’13: Rp 0.845 Tn (US$69.4m) Q1’14: Rp 0.552 Tn (US$48.7m) Q2’14: Rp 0.765 Tn (US$64.5m) Q3’14: Rp 0.566 Tn (US$46.4m) Q4’14: Rp 0.803 Tn (US$64.8m) Q1’15: Rp 0.553 Tn (US$42.4m) Q2’15: Rp 0.646 Tn (US$48.5m) Q3’15: Rp 0.751 Tn (US$51.3m) Q4’15 Rp 1.089 Tn (US$79.0m)
* including the write-back of RGM loans totaling Rp 2.336 Tn** Including the write back of Kharisma Arya Paksi loans totaling Rp 0.124 Tn and Gde Kadek Rp 0.59Tn.
65
Summary Quarterly Balance Sheet 4Q 2015 – 4Q 2014
Summary BS4Q ’15 3Q ’15 2Q ’15 1Q ’14 4Q’14 Y-o-Y
Rp (tn) Rp (tn) Rp (tn) Rp (tn) Rp (tn) % Total Assets 910.06 905.76 914.08 868.35 855.04 6.4%
Cash 25.11 19.06 19.52 16.76 20.70 21.3%
Current Acc w/ BI & other banks 66.47 71.42 64.74 60.16 59.59 11.6%
Placement w/ BI & other banks 37.39 57.21 61.16 62.82 61.21 (38.9%)
Securities Net 43.64 45.62 47.06 44.37 40.47 7.8%
Government Bonds 103.87 101.08 98.32 100.12 86.15 20.6%
- Trading 2.85 2.70 3.36 3.74 2.90 (1.6%)
- AFS 74.15 74.84 72.18 73.57 61.19 21.2%
- HTM 26.87 23.54 22.78 22.81 22.07 21.7%
Loans 595.46 560.63 540.91 532.82 529.97 12.4%
- Performing Loans 579.94 544.86 527.62 520.68 518.56 11.8%
- Non-Performing Loans 15.52 15.77 13.29 12.14 11.41 36.0%
Allowances (22.56) (21.45) (18.80) (18.24) (17.92) 25.9%
Loans – Net 572.90 539.18 522.10 514.58 512.06 11.9%
Total Deposits – Non Bank 676.39 654.60 625.995 628.712 636.382 6.3%
- Demand Deposits 172.17 168.39 152.64 141.49 128.07 34.4%
- Savings Deposits 271.71 247.52 225.44 230.58 252.45 7.6%
- Time Deposits 232.51 238.69 247.92 256.64 255.87 (9.1%)
Shareholders’ Equity* 119.49 113.14 108.18 104.79 104.85 14.0%
66
Summary Quarterly P&L 4Q 2015 – 4Q 2014
Summary P&L
4Q 2015 3Q 2015 4Q 2014 Y-o-Y Q-o-Q
Rp (Bn)% of
Rp (Bn)% of
Rp (Bn)% of
(%) (%)Av.Assets* Av.Assets* Av.Assets*
Interest Income 18,933 8.3% 18,066 8.0% 17,363 8.1% 9.0% 4.8%
Interest Expense 6,022 2.6% 6,814 3.0% 6,536 3.1% (7.9%) (11.6%)
Net Interest Income 12,911 5.7% 11,252 5.0% 10,827 5.1% 19.3% 14.7%
Net Premium Income 696 0.3% 886 0.4% 697 0.3% (0.1%) (21.4%)
Net Interest Income & Premium Income 13,607 6.0% 12,138 5.4% 11,524 5.4% 18.1% 12.1%
Other Non Interest Income 0 0
*Other Fees and Commissions 2,443 1.1% 2,546 1.1% 2,534 1.2% (3.6%) (4.0%)
*Foreign Exchange Gains – Net 844 0.4% 533 0.2% 399 0.2% 111.2% 58.1%
*Gain from Incr. in value of sec & sale of Gov.Bonds 178 0.00 (134) (0.1%) 111 0.1% 60.3% N/A
*Others 2,015 0.9% 2,182 1.0% 1,132 0.5% 0.78 (7.7%)
Total Non Interest Income 5,479 2.4% 5,127 2.3% 4,176 2.0% 31.2% 6.9%
Total Operating Income 19,086 8.4% 17,265 7.6% 15,700 7.3% 21.6% 10.5%
Provisions, Net (3,552) (1.6%) (4,495) (2.0%) (1,779) (0.8%) 99.7% (21.0%)
Personnel Expense (3,444) (1.5%) (2,903) (1.3%) (2,807) (1.3%) 22.7% 18.6%
G&A Expenses (3,730) (1.6%) (3,322) (1.5%) (3,488) (1.6%) 6.9% 12.3%
Loss from decr in value of sec & Gov Bonds - 0.0% - ` - - 0
Other Expenses (906) (0.4%) (744) (0.3%) (620) (0.3%) 46.1% 21.6%
Total Expense (8,080) (3.6%) (6,970) (3.1%) (6,914) (3.2%) 16.9% 15.9%
Profit from Operations 7,455 3.3% 5,800 2.6% 7,007 3.3% 6.4% 28.5%
Non Operating Income 23 0.0% 5 0.0% 10 0.0% 145.2% 371.1%
Net Income Before Tax 7,478 3.3% 5,805 2.6% 7,016 3.3% 6.6% 28.8%
Net Income After Tax 5,752 2.5% 4,658 2.1% 5,418 2.5% 6.2% 23.5%
Ministry of Finance
Market Sale
Bank Indonesia
• BI will gradually replace their use of SBI for market operations with SUN
• BI could buy the Recap bonds gradually and this includes potential purchases of SUN VR
Three Options to Pursue in Recap Bonds Resolution
• The Ministry of Finance will consider to buyback the SUN VR
• Potential for debt switching with a different tenor of fixed rate bonds.
• Bundle the recap bonds with assets creating an asset backed security and sell it to the market.
• Sell the bonds. borrowing FX and use the liquidity to increase lending.
67
68
Government Bond Portfolio
Government Bond Portfolio by Type and Maturity (Rp103,869 Bn)
4Q ’15 Government Bond Gains/(Losses) (Rp Bn)
* Mark to Market impacts Profit# Mark to Market impacts Equity^ Nominal value
35.56
20.242.85
38.60
6.63
0
10
20
30
40
50
60
70
80
Trading* AFS# HTM^
Fixed Rate
Variable Rate
Bonds by Rate Type & Portfolio as of Dec 2015 (Rp103,869 Bn)
1Q’15 2Q’15 3Q’15 4Q’15
Realized Gains/Losses on Bonds
146.76 50.67 37.39 5.75
Unrealized Gains/Losses on Bonds
53.62 (78.69) (107.30) 113.08
Total 200.38 (28.02) (69.91) 118.83
Maturity/ Trading Portfolio Available for Sale Held to MaturityRp bn Nominal MTM Nominal MTM
Fixed Rate Bonds
< 1 year 834 833 3,361 3,371 3,099
1 - 5 year 429 429 22,050 22,946 3,275
5 - 10 year 962 938 11,478 11,264 105
> 10 year 635 650 1,053 1,017 148
Sub Total 2,860 2,850 37,944 38,597 6,627
Variable Rate Bonds
< 1 year - - 103 102 10,883
1 - 5 year - - 35,909 35,454 9,356
5 - 10 year - - - - -
> 10 year - - - - -
Sub Total - - 36,012 35,556 20,239
T o t a l 2,860 2,850 73,955 74,154 26,866
69
Ex-Recap Bond Portfolio. December 2015 – Bank Only
(Stated in Rp Millions)
70
Bank Mandiri Credit Ratings
Moody’s (March 2015) Fitch Rating (August 2015)
Outlook STABLE LT Issuer Default Rating BBB-
Long Term Rating Baa3 ST Issuer Default Rating F3
Foreign LT Bank Deposits Baa3 Local Currency LT Issuer Default Rating BBB-
Local LT Bank Deposits Baa3 National LT Rating AAA(idn)
Senior Unsecured Debt WR National ST Rating F1+(idn)
Bank Financial Strength D+ Viability Rating bb+
Foreign Currency ST Deposits P-3 Support Rating 2
Local Currency ST Deposits P-3 Support Rating Floor BBB-
Pefindo (September 2015) Standard & Poor’s (December 2015)
Outlook STABLE Outlook STABLE
LT General Obligation idAAA LT Foreign Issuer Credit BB+
Subordinated Debt idAA+ LT Local Issuer Credit BB+
ST Foreign Issuer Credit B
ST Local Issuer Credit B
71
Corporate Actions
DividendPayment
Net Profit for the financial year of 2014 of Rp19,871,873,276,792.60was distributed as follows:
• 25% or Rp4,967,968,319,198.15 for the annual dividend• Total Dividend Payment of Rp212.91292 per share
Schedule :a. Cum Date:
Regular and Negotiated Market: March 23, 2015Cash Market: March 26, 2015
b. Ex Date: Regular and Negotiated Market: March 24, 2015Cash Market: March 27, 2015
c. Recording Date: March 26, 2015d. Payment Date: April 17, 2015
Net Profit for the financial year of 2013 of Rp18,203,753,301,421.70was distributed as follows:
• 30% or Rp5,461,125,990,426.51 for the annual dividend• Total Dividend Payment of Rp234.04825 per share
72
4Q 2015 Movement in Category 1 and 2 Loans
46
6,6
00
5,025
3,662
157
81
40,638
4,316
50
1,4
84
Beg. Bal. D/G to 2 U/G from 2
D/G to NPL
U/G from NPL
Net Disburs.
FX Impact End Bal.
Category 1 Loan Movements (Rp Bn) – Bank Only Category 2 Loan Movements (Rp Bn) – Bank Only
24
,03
2
5,0253,662
2,845
1,061
1,161
183
22
,26
6
Beg. Bal. Cat. 1 D/G
U/G to 1 D/G to NPL
NPL U/G Net Collection
FX Impact End Bal.
73
Rp 247.79 Tn in Loans Disbursed in 2015
475.27
247.79
101.57
44.79
42.99
8.32
5.99
536.03
2014 Disburs. Install. Payment Pay-off FX Impact
Write-Offs
2015
Loan Movement– 2015 Bank-OnlyRp Tn
Loan Disbursement by Segment –2015 Bank-OnlyRp Tn
111.17
65.75
23.98
28.18
18.71
247.79
Corporate Commercial Small Micro Consumer Total
74
FY 2015 Movement in Category 1 and 2 Loans
44
8,1
59
10,872
2,704
4,875
24
58,217
8,128
50
1,4
84
Beg. Bal. D/G to 2 U/G from 2
D/G to NPL
U/G from NPL
Net Disburs.
FX Impact End Bal.
Category 1 Loan Movements (Rp Bn) – Bank Only Category 2 Loan Movements (Rp Bn) – Bank Only
19
,18
8
10,872
2,704
3,931
8782,263
226
22
,26
6
Beg. Bal. Cat. 1 D/G
U/G to 1 D/G to NPL
NPL U/G Net Collection
FX Impact End Bal.
75
4Q 2015 Loan Detail: Collectability by Segment
Loan Profile: 4Q Collectability (%) by SegmentBank Only
96.9%92.3% 92.2% 90.2% 90.1%
1.8%4.8% 4.0% 6.2% 8.1%0.7% 0.2% 0.6%
0.4%0.9% 1.9% 3.0% 2.2% 0.8%
Corp Comm Small Micro Cons
5
4
3
2
1
193,957
148,334
55,763
38,334
65,097
3,581
7,751
2,416
2,637
5,881
1,708
3,005
1,821
920
601
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
200,000
210,000
Corp Comm Small Micro Cons
Loan Profile: 4Q Collectability (Rp bn) by SegmentBank Only
76
0%
10%
20%
30%
40%
50%
60%
70%Current (%)
<30 Days OD (%)
NPL Loan Detail*: Quarterly by Days Past Due
Quarterly D/G to NPL & Interest DPD - Bank Only
11
,16
16
,90
11
,17
74
,10
61
,55
81
,30
41
,03
11
,64
42
35
78
35
61
13
45
03
59
63
25
1,8
58
1,9
75
29
74
80
28
38
51
61
74
54
55
21
,28
43
57
60
55
03
55
36
49
37
95
45
79
63
53
56
25
24
72
94
99
43
91
,52
98
89
2,2
91
2,6
40
2,0
45
0
2,000
4,000
6,000
8,000
10,000
12,000
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
Q1
'11
Q2
'11
Q3
'11
Q4
'11
Q1
'12
Q2
'12
Q3
'12
Q4
'12
Q1
'13
Q2
'13
Q3
'13
Q4
'13
Q1
'14
Q2
'14
Q3
'14
Q4
'14
Q1
'15
Q2
'15
Q3
'15
Q4
'15
Rp Bn Value
Quarterly NPL Stock & Interest DPD - Bank Only
17
,45
62
4,9
62
24
,19
32
6,2
48
26
,42
42
5,6
65
25
,41
41
7,9
60
17
,18
01
6,5
00
13
,60
31
0,6
54
6,5
58
6,5
10
6,5
86
7,8
33
9,6
78
7,7
00
6,0
99
4,5
05
3,5
89
3,6
68
3,9
85
3,9
29
4
,30
1
4,2
61
4
,98
3
4,8
05
4
,92
7
4,6
43
4
,64
4
4.4
96
4
,81
24
,86
35
,00
6
4,9
65
5
,29
4
5,3
51
5
,26
6
5,5
98
6
,07
7
7,2
83
9
,27
3
9,4
71
0
5,000
10,000
15,000
20,000
25,000
30,000
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
Q1
'11
Q2
'11
Q3
'11
Q4
'11
Q1
'12
Q2
'12
Q3
'12
Q4
'12
Q1
'13
Q2
'13
Q3
'13
Q4
'13
Q1
'14
Q2
'14
Q3
'14
Q4
'14
Q1
'15
Q2
'15
Q3
'15
Q4
'15
Rp Bn Value
* Excluding Micro & Consumer Loans Only
0%
10%
20%
30%
40%
50%
60%
70%Current (%)
<30 Days OD (%)
77
19
,42
72
0,9
14
20
,64
51
6,5
60
17
,10
41
6,0
46
15
,27
11
6,2
78
15
,33
41
4,1
31
13
,64
61
3,5
46
13
,53
41
4,2
36
14
,17
01
3,9
57
11
,67
11
1,6
89
11
,94
51
2,5
03
12
,43
61
2,4
36
11
,20
69
,85
31
0,3
71
13
,00
92
0,0
68
24
,52
52
6,3
79
20
05
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Others#
Write-Offs
Repayments
Restructuring
Balance
Rp2,781bn in Loans were Restructured in 4Q ‘15
IDR bn
Others# includes partial payments, FX impacts, and fluctuation in Working Capital facilities
Loans by Restructuring Type in 4Q 2015
Maturity extension;
81.7%
Maturity extension
w/reduced rates; 0.2%
Maturity extension w/other restr'g*; 16.7%
LT loans w/convert;
1.9%
Additional loans; 0.1%
*Other Restructuring includes reduction of interest rates, rescheduling of unpaid interest & extension of repayment period for unpaid interest
Restructured Loan Movement 2005 - 4Q2015
(Rp billions) Q2 ’14 Q3 ’14 Q4 ’14 Q1 ’15 Q2 ’15 Q3 ’15 Q4 ’15
Loans Restructured
555 44 64 3,159 6,902 4,850 2,781
NPLCollections
180 524 195 94 46 128 104
78
Business Services9%
Min
ing
3%Plantations
Manufacturing
Business Services
F&B Manufacturing
Distribution Trading
Chemical Manufacturing
Retail Trading
Trading
Others
Transportation
Constructions
Oil & Gas Mining
Metal Manufacturing
Utilities
Mining
Loan Portfolio Sector Analysis, 4Q 2015
(1) Non-consolidated numbers* Each sector < 3%
* Excluding Micro & Consumer Loans Only
79
Credit Card Portfolio Showed Modest Decrease in 4Q ‘15
Mandiri Credit Card Delinquency Rates (%)
75.60
87.50
62.63
62.02
59.10
61.3449.60
46.43 45.9056.62
69.6569.95
81.62
93.39
87.8995.84
105.82104.78
98.85 100.19
106.07111.79
137.08
129.94
130.32
128.46
143.26152.42
178.54
216.81
288.20
329.13
313.89
295.88
32.6
40.8
37.145.7
57.3
53.5
63.065.6
65.5
63.8
61.5
59.264.9
66.5
67.782.8 79.9
84.6
88.493.0
110.7
138.1
177.3
212.6
212.9
6.9 8.813.9 14.5 17.6 16.9
24.4
23.6
36.0
25.513.1
12.5
15.0
15.4
17.9
19.7
23.9
23.4
28.1
29.3
29.5
28.429.4
30.235.8
35.9
38.243.1
59.2
4Q
'05
4Q
'06
1Q
'07
2Q
'07
3Q
'07
4Q
'07
1Q
'08
2Q
'08
3Q
'08
4Q
'08
1Q
'09
2Q
'09
3Q
'09
4Q
'09
1Q
'10
2Q
'10
3Q
'10
4Q
'10
1Q
'11
2Q
'11
3Q
'11
4Q
'11
1Q
'12
2Q
'12
3Q
'12
4Q
'12
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
NPLs (90+DPD)
Write-Offs
Recoveries
Quarterly Charge-offs, NPLs & Recoveries (Rp Bn)
10.2%
11.7%
8.8%
6.7%
5.4%
4.2%
5.2%4.8%
5.3%5.2%5.7%
5.4%5.1%
4.7%5.0%
4.8%
4.6%5.0%
5.2%4.8%
4.7%
4.8%
5.1%
4.6%
4.9%
5.7%
6.8%6.8%6.7%
6.4%5.3%
4.3%
3.5%
2.8%
2.2%
2.5%2.5%
2.7% 2.6%
2.7%
3.0%2.8%2.6%
2.3%
2.4%2.4%
2.2%
2.7%
2.5%2.5% 2.6%
2.2%
2.6%
3.5%
3.8%3.6%
3.3%
5.0%
4.8%
3.9%
3.3%
2.4%
2.4% 2.2%2.2% 2.1%2.2%
2.2%
2.3%
2.2%2.2%2.2% 2.4%
2.4%2.5%
2.8%
3.0%2.9%
2.4%2.5%
2.0%1.8%
1.3% 1.2% 1.1% 1.1% 1.0% 1.1% 1.1%1.1%
1.1%
1.1%
1.0%
1.0%
1.1% 1.1%
1.2%1.3%
1.2%
1.2%
1.2%1.5%
1.6%
1.5%
4Q
'05
4Q
'06
1Q
'07
2Q
'07
3Q
'07
4Q
'07
1Q
'08
2Q
'08
3Q
'08
4Q
'08
1Q
'09
2Q
'09
3Q
'09
4Q
'09
1Q
'10
2Q
'10
3Q
'10
4Q
'10
1Q
'11
2Q
'11
3Q
'11
4Q
'11
1Q
'12
2Q
'12
3Q
'12
4Q
'12
1Q
'13
2Q
'13
3Q
'13
4Q
'13
1Q
'14
2Q
'14
3Q
'14
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
30 DPD - Rp
90 DPD - Rp
30 DPD - Cards
90 DPD - Cards
80
Staffing and Distribution Network Growth
22
,90
9
25
,23
6
25
,70
6
26
,32
7
27
,30
5
27
,90
7
28
,18
3
28
,15
3
28
,51
8
30
,76
2
30
,83
0
31
,72
1
32
,90
5
33
,98
2
34
,08
9
34
,44
2
34
,47
5
34
,69
6
34
,95
4
35
,01
0
35
,50
3
35
,49
8
20
09
20
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
2Q
'15
3Q
'15
4Q
'15
1,0
95
1,3
70
1,3
81
1,4
42
1,5
26
1,5
37
1,5
48
1,6
43
1,7
33
1,8
10
1,8
11
1,8
35
1,9
09
2,0
50
2,0
61
2,0
87
2,1
54
2,3
12
2,3
17
2,3
27
2,3
80
2,4
57
20
09
20
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
2Q
'15
3Q
'15
4Q
'15
Employees
Domestic Branch Network
ATM Network
ATM-Link Network
4,9
96
6,4
96
6,5
05
8,4
80
8,9
93
8,9
96
8,9
96
10
,36
11
0,4
66
10
,98
51
0,9
85
11
,45
41
1,4
54
11
,51
41
1,5
14
11
,60
41
3,3
09
15
,34
41
5,4
44
17
,03
21
7,3
41
17
,38
8
20
09
20
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
2Q
'15
3Q
'15
4Q
'15
12
,66
6
18
,32
1
18
,58
1
18
,93
9
21
,47
8
22
,79
4
23
,60
2
28
,30
9
31
,13
9
35
,30
0
35
,39
5
36
,12
3
38
,43
2
39
,85
4
40
,24
8
44
,23
9
45
,77
1
47
,32
7
49
,10
7
50
,70
6
53
,89
5
53
,95
7
20
09
20
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
2Q
'15
3Q
'15
4Q
'15
81
3
4
5
Current
31-60 Days
61-90 Days
>90 Days
Mfg-Chem
Trad-Distr
Mfg-RawM
Trad-Ret
Trading
CommOthers
Bus ServMfg
RP
Export
Invest
Program
WC
Corp
Comm
Small
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int. Aging Sector Currency Purpose Segment
4Q 2015 Loan Detail*: Downgrades to NPLLoan Profile: 4Q NPL Downgrades Only (Rp 2,044 Bn) Bank Only
Corporate, Commercial & Small
Business loans downgraded to NPL in
4Q totaled Rp 2,044 Bn. Of these loans:
73.0% were more than 90 days overdue on interest payments
64.0% came from our Commercial Portfolio
Largest downgrades by sector:
Chemicals Manufacturing
Trading Distributions
Raw Materials Manufacturing
99.9% were IDR loans
82.4% were Working Capital loans, 16.1% were Investment Loans
* Excluding Micro & Consumer Loans Only
82
3
4
5
Current
61-90 Days
>90 Days
Trad-Distr
Trad-Ret
Mfg-P&P
Mfg-Chem
Mfg
Mass Trans
Mfg-F&B
Mining-Coal
Electricity
Mfg-RawM
Others
TradingBus ServVehicles
FX
RP
Consumer
Export
Invest
Syndication
WC
Corp
Comm
Small
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int. Aging Sector Currency Purpose Segment
4Q 2015 Loan Detail*: Non-Performing LoansLoan Profile: 4Q Non-Performing Loans Only (Rp 9,471 Bn) Bank Only
14.3% remain current on interest payments and an additional 5.4% are less than 90 days overdue
48.5% are to Commercial customers
64.1% are Working Capital loans and 24.7% are Investment loans
Primary sectors are: Trading Distributions Retail Trading Pulp & Paper Manufacturing Chemicals Manufacturing
85.1% are Rp loans
16.5% are Cat. 3 & 14.5% are Cat. 4
Corporate, Commercial & Small Business
NPLs totaled Rp 9,471 Bn in 4Q.
Of these NPLs in 4Q:
* Excluding Micro & Consumer Loans Only
83
Corp
Comm
Small
Current
1 Day
<30 Days
31-60 Days
61+ Days
Trad-Ret
Mfg-Text
Mfg-F&B
Trad-Distr
Electricity
Mfg-Chem
Mass Trans
Mfg-OthBus ServOthers
Trading-OthMiningConstr
RP
Export
Invest
WC
Syndication
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Segment Days Aging Sector Currency Purpose Origin Year
4Q 2015 Loan Detail*: Downgrades to Cat. 2Loan Profile: 4Q Downgrades to Cat 2 Only (Rp 2,546 Bn) Bank Only
Rp2,546 Bn in Corporate, Commercial &
Small Business loans were downgraded
to Category 2 in 4Q. Of the Special
Mention Loans downgraded:
36.7% are to Small Business customers & 54.5% are for Commercial
19.6% are current & 44.3% are less than 30 days overdue in interest payments
Primary sectors downgraded are: Retail Trading Textile Manufacturing Food & Beverages
Manufacturing Trading Distributions
100.0% are RP loans
71.4% are Working Capital loans* Excluding Micro & Consumer Loans Only
84
corp
comm
small
Current
1 Day
<30 Days
31-60 Days
61- 90 Days
Mfg-Text
Mfg-Chem
Trad-Distr
Mass Trans
Mfg-Metal
Trad-Ret
Others
Mfg-F&B
Mfg-P&P
ConstrOil & GasTradingBus Serv
FX
RP
Export
Invest
Program
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Segment Days Aging Sector Currency Purpose Origin Year
4Q 2015 Loan Detail*: Category 2 LoansLoan Profile: 4Q Category 2 Loans Only (Rp 13,748 Bn) Bank Only
Rp 13,748 Bn in Corporate, Commercial
& Small Business loans were in
Category 2 in 4Q. Of these Special
Mention loans:
56.4% are to Commercial customers
55.5% are current or 1 day overdue, with an additional 14.0% less than 30 days overdue
Primary sectors in Category 2 are: Textile Manufacturing Trading Distribution Mass Transportation
73.8% are Rp loans
65.7% are Working Capital loans
72.7% were Category 2 in Q3 ‘15
* Excluding Micro & Consumer Loans Only
85
1
2
Comm
Corp
Small
Mfg-Chem
Mfg-RawM
Trad-RetMfg-F&BTrading
Mining-CoalOthers
FX
RP
Invest
Program
WC
>2004
2000-2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Segment Sector Currency Purpose Origin Year
4Q 2015 Loan Detail*: Upgrades to PLLoan Profile: 4Q Upgrades to PL (Rp 1,000 Bn) Bank Only
Corporate, Commercial & Small
Business loans upgraded to PL in 4Q
totaled Rp 1,000 Bn. Of these loans:
77.1% were to Corporate customers
99.4% originated later than 2004
Largest upgrades by sector:
Chemical Manufacturing
Raw Material Manufacturing
Retail Trading
77.1 % were Rp loans
68.9% were Working Capital loans; 30.9% were Investment loans
* Excluding Micro & Consumer Loans Only
86
1
2
Corp
Comm
Small
Plantations
Mfg
Bus Serv
Mfg-F&B
Trad-Distr
Mfg-Chem
Trad-Ret
Trading-Oth
Others
Trans
Mining-Oil & Gas
ConstrMining-OthElectricitySoc Serv
FX
RP
Consumer
Export
Invest
ProgramSyndication
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Segment Sector Currency Purpose Origin Year
4Q 2015 Loan Detail*: Performing LoansLoan Profile: 4Q Performing Loans Only (Rp 411,801 Bn) Bank Only
Rp 411,801 Bn in Corporate Commercial
& Small Business loans were performing
in 4Q. Of these performing loans:
48.0% are to Corporate customers & 37.9% are to Commercial customers
96.2% originated since 2005
Primary sectors are:
Plantations
Manufacturing
Business Services
79.0% are Rupiah loans
51.5% are Working Capital loans; 34.8% are Investment loans
* Excluding Micro & Consumer Loans Only
1
2
34
5
Current
<30 Days31-60 Days
61-90 Days
>90 Days
Mfg-Chem
Mfg
Mfg-Metal
Mfg-Text
Mining-Coal
Trad-Distr
Trans
Trad-Imp
Others
Mining
Trading
Agri
FX
RP
Export
Invest
WC
Corp
Comm
Small
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int Aging Sector Currency Purpose Segment87
4Q 2015 Loan Detail*: Restructured LoansLoan Profile: 4Q Restructured Loans Only (Rp26,379 Bn) Bank Only
Of the remaining Rp 26,379 billion in restructured Corporate, Commercial & Small Business loans in 4Q :
86.9% are Performing
76.8% of Restructured Loans are current in interest payments
Primary sectors are:
Chemical Manufacturing
Manufacturing
Textile Manufacturing
56.3% are Rp loans
49.5% are Working Capital loans
58.3% are to Commercial customers
10.5% deteriorated in collectability
* Excluding Micro & Consumer Loans Only
88
98.7% are performing loans, with 1.6% in Category 2
71.5% of Category 2 loans are current in interest payments
Primary sectors in Corporate are: Plantations Food & Beverages
Manufacturing Mining
69.1% are Rupiah loans
42.4% are Investment loans; 39.0% are Working Capital loans
4Q 2015 Loan Detail: Corporate LoansLoan Profile: 4Q Corporate Loans Only (Rp 200,137 Bn) Bank Only
Rp 200,137 billion in loans were in the Corporate portfolio in 4Q. Of the Corporate Loans in 4Q :
1
25
Current
<30 Days
Plantations
Mfg-F&B
Mining
Bus Serv
Trading
Others
Mfg-Chem
Mfg
Electricity
Constr
Mfg-MetalComm
FX
RP
Export
Invest
Syndication
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat. 2 Int. Aging Sector Currency Purpose Origin Year
89
1
2
5
Current
<30 Days31-60 Days
Mfg
Trad-Distr
Plantations
Mfg-Chem
Trading
Others
Bus Serv
Mfg-RawM
Mass Trans
Mfg-F&B
ConstrVehicles
Mining-Coal
FX
RP
Consumer
Export
Invest
Syndication
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat. 2 Int. Aging Sector Currency Purpose Origin Year
97.1% are performing loans, with 4.8% in Category 2
58.0% of Category 2 loans are current in interest payments
Primary sectors in Commercial are: Manufacturing Trading Distribution Plantations
84.1% are Rupiah loans
60.4% are Working Capital loans, 31.5% are Investment loans
4Q 2015 Loan Detail: Commercial LoansLoan Profile: 4Q Commercial Loans Only (Rp 160,681 Bn) Bank Only
Rp160,681 Billion in loans were in the Commercial portfolio in 4Q. Of the Commercial Loans in 4Q:
90
1
245
Current
<30 Days31-60 Days61+ Days
Trad-Ret
Trad-Distr
Plantations
Household Equip.
Mfg
Bus Serv
Trading
ConstrOthers
Soc ServTrans
FX
RP
Consumer
Export
Invest
Program
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat. 2 Int. Aging Sector Currency Purpose Origin Year
96.2% are performing loans, with 4.0% in Category 2
23.7% of Category 2 loans are current in interest payments
Primary sectors in Small Business are: Retail Trading Distribution Trading Plantations
99.3% are Rupiah loans
70.9% are Working Capital loans
4Q 2015 Loan Detail: Small Business LoansLoan Profile: 3Q Small Business Loans Only (Rp 60,454 Bn) Bank Only
Rp 60,454 Bn in loans were in the Small Business portfolio in 4Q of the Small Business Loans in 4Q:
91
1
25
Current
<30 Days61+ Days
Plantations
Mfg
Bus Serv
Mfg-F&B
Trad-Distr
Trad-Ret
Oth
Mfg-Chem
Constr
Trans
Trading
UtilitiesMining
Corp
Comm
Small
ConsumerExport
Invest
Syndication
WC
<20002000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat. 2 Int. Aging Sector Segment Purpose Origin Year
97.6% are performing loans, with 3.0% in Category 2
50.8% of Category 2 loans are current in interest payments
Primary sectors in Rupiah loans are: Plantations Manufacturing Business Services
41.5% are Corporate loans
55.4% are Working Capital loans, 33.9% Investment loans
4Q 2015 Loan Detail*: Rupiah LoansLoan Profile: 4Q Rupiah Loans Only (Rp 333,484 Bn) Bank Only
Rp 333,484 billion in loans were Rupiah denominated in 4Q Of the Rupiah Loans in 4Q:
* Excluding Micro & Consumer Loans Only
92
1
25
Current
<30 Days1 Day
MiningOil & Gas
Mfg
Oth
Mfg-Chem
Plantations
Mining
Trading
Mass Trans
Trad-ExpBus Serv
Corp
Comm
Small
Export
Invest
Syndication
WC
2000-2004
>2004
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat. 2 Int. Aging Sector Segment Purpose Origin Year
98.4% are performing loans
68.7% of Category 2 loans are current in interest payments
Primary sectors in FX loans are: Mining – Oil & Gas Manufacturing
70.5% are Corporate loans
37.2% are Investment loans; 37.7% are Working Capital loans
4Q 2015 Loan Detail*: FX LoansLoan Profile: 4Q FX Loans Only (Rp 87,788 Bn) Bank Only
Rp 87,788 Bn in loans were FX denominated in 4Q. Of the FX Loans in 4Q:
* Excluding Micro & Consumer Loans Only
93
Loan growth, Quality & Provisioning Relative to Peers Bank Only, As of September 2015
28
5%
16
0%
15
3%
14
0%
11
6%
11
1%
93
%
85
%
48
%
33
%
BC
A
Man
diri
BR
I
BN
I
CIM
B N
iaga
Dan
amo
n
Pan
in
Perm
ata
BII
BTN
Ratio of Provisions to NPL(%)
51
8,9
66
50
2,7
79
36
4,9
21
29
0,1
19
17
3,6
44
13
2,7
51
13
1,5
80
11
3,7
25
10
6,3
72
10
3,1
98
BR
I
Man
diri
BC
A
BN
I
CIM
B N
iaga
Perm
ata
BTN
Pan
in
Dan
amo
n
BII
Total Loans(Rp bn)
19
.0%
14
.3%
11
.8%
11
.3%
10
.3%
8.3
%
6.3
%
4.2
%
2.3
%
0.0
%
BTN
BN
I
BR
I
Man
diri
BC
A
CIM
B N
iaga
BII
Pan
in
Perm
ata
Dan
amo
n
Loan Growth (%)
0.3
%
0.4
%
0.6
%
0.7
%
0.7
%
1.3
%
1.5
%
1.9
%
2.8
%
3.2
%
BC
A
Pan
in
BR
I
BN
I
Man
diri
Perm
ata
CIM
B N
iaga
Dan
amo
n
BII
BTN
NPL Ratio (Net)(%)
10
5.7
%
92
.1%
92
.0%
91
.1%
88
.7%
88
.2%
87
.7%
84
.5%
84
.3%
78
.1%
BTN
Pan
in
CIM
B N
iaga
Dan
amo
n
BII
Perm
ata
BN
I
BR
I
Man
diri
BC
A
Loan to Deposit Ratio(%)
0.7
%
2.2
%
2.3
%
2.4
%
2.5
%
2.8
%
3.2
%
3.2
%
4.3
%
4.5
%
BC
A
BR
I
Pan
in
Man
diri
Perm
ata
BN
I
CIM
B N
iaga
Dan
amo
n
BII
BTN
NPL Ratio (Gross)(%)
Average
94
Asset and Liability Mix Relative to PeersBank Only, As of September 2015
2.4
%
3.0
%
3.7
%
4.0
%
5.4
%
5.5
%
5.8
%
6.4
%
6.5
%
6.6
%
BC
A
BN
I
Man
diri
BR
I
Dan
amo
n
CIM
B N
iaga
BII
Pan
in
Perm
ata
BTN
80
.7%
76
.9%
75
.0%
74
.6%
73
.5%
72
.6%
71
.5%
70
.0%
67
.5%
67
.5%
BII
CIM
B N
iaga
BTN
Perm
ata
Pan
in
BN
I
Dan
amo
n
BR
I
BC
A
Man
diri
76
.5%
65
.1%
61
.9%
56
.2%
49
.2%
47
.6%
46
.1%
41
.4%
39
.9%
36
.2%
BC
A
Man
diri
BN
I
BR
I
BII
CIM
B N
iaga
Dan
amo
n
Pan
in
BTN
Perm
ata
81
0,2
49
77
5,8
16
57
3,1
66
42
9,2
77
23
9,0
20
19
4,2
24
16
8,2
55
16
6,0
38
16
3,6
21
14
5,9
71
Man
diri
BR
I
BC
A
BN
I
CIM
B N
iaga
Perm
ata
Pan
in
BTN
Dan
amo
n
BII
Loans to Total Earning Assets(%)
Cost of Funds (p.a.)(%)
Total Assets(Rp bn)
Low Cost Deposit Ratio(%)
11
.1%
10
.9%
9.9
%
9.7
%
9.7
%
9.4
%
9.2
%
8.8
%
8.6
%
8.3
%
Dan
amo
n
BR
I
BTN
CIM
B N
iaga
Pan
in
Perm
ata
BII
BN
I
Man
diri
BC
A
Yield on Assets (p.a.)(%)
61
1,3
25
59
4,2
48
46
2,2
96
33
0,9
16
17
7,9
96
13
9,3
32
12
3,3
94
11
5,9
19
11
2,2
84
10
5,4
27
BR
I
Man
diri
BC
A
BN
I
CIM
B N
iaga
Perm
ata
Pan
in
BTN
Dan
amo
n
BII
Total Deposits(Rp tn)
Average
95
Efficiency Measures Relative to PeersBank Only, As of September 2015
38
.2%
39
.0%
43
.6%
43
.9%
49
.4%
50
.1%
53
.1%
57
.4%
60
.2%
63
.2%
Man
diri
BC
A
BR
I
BN
I
Dan
amo
n
CIM
B N
iaga
Perm
ata
Pan
in
BTN
BII
53
1
40
7
35
5
24
4
13
9
12
1
99
55
44 17
BC
A
Man
diri
BR
I
BN
I
BII
Perm
ata
Pan
in
BTN
Dan
amo
n
CIM
B N
iaga
18
.99
1
17
.92
3
16
.73
8
14
.35
0
13
.91
5
13
.15
2
12
.75
1
11
.87
9
11
.09
6
BC
A
Perm
ata
Man
diri
BTN
BN
I
BII
CIM
B N
iaga
BR
I
Pan
in
17
,07
6
14
,99
1
14
,92
9
14
,16
2
14
,04
6
12
,44
0
12
,20
0
10
,22
6
10
,08
4
2,6
90
Perm
ata
BC
A
BII
Man
diri
BTN
CIM
B N
iaga
BN
I
Pan
in
BR
I
Dan
amo
n
Profit/ Employee(Rp Mn)
Cost/ Income(%)
Loans/ Employee(Rp Mn)
Deposits/ Employee(Rp Mn)
66
1
49
7
43
6
30
6
19
7
15
8
13
1
74
55
26
BC
A
Man
diri
BR
I
BN
I
BII
Perm
ata
Pan
in
BTN
Dan
amo
n
CIM
B N
iaga
Pre Tax Income/Employee(Rp Mn)
6.2
%
5.9
%
5.3
%
5.0
%
4.9
%
4.4
%
3.9
%
3.8
%
3.2
%
3.1
%
Dan
amo
n
CIM
B N
iaga
BN
I
BC
A
BR
I
BII
Man
diri
Perm
ata
BTN
Pan
in
Cost/Assets(%)*
*AnnualizedAverage
96
Measures of Scale and Returns Relative to PeersBank Only, As of September 2015
29
.6%
22
.5%
22
.2%
16
.1%
15
.1%
9.3
%
8.3
%
7.5
%
4.5
%
1.2
%
BR
I
Man
diri
BC
A
BN
I
BTN
Perm
ata
Dan
amo
n
Pan
in
BII
CIM
B N
iaga
2,3
80
2,0
45
1,7
95
1,3
29
1,1
60
85
9
85
7
63
3
55
6
46
0
Man
diri
BR
I
BN
I
Dan
amo
n
BC
A
CIM
B N
iaga
BTN
Perm
ata
Pan
in
BII
8.1
%
6.9
%
6.6
%
6.5
%
5.6
%
5.2
%
4.8
%
4.5
%
4.3
%
4.0
%
BR
I
Dan
amo
n
BC
A
BN
I
Man
diri
CIM
B N
iaga
BTN
BII
Pan
in
Perm
ata
51
,46
2
39
,54
9
35
,50
3
24
,34
3
23
,78
1
13
,95
9
11
,12
1
8,8
14
7,7
74
7,3
47
BR
I
Dan
amo
n
Man
diri
BC
A
BN
I
CIM
B N
iaga
Pan
in
BTN
Perm
ata
BII
Branches
Return on Equity (After Tax)(%)
Employees
Net Interest Margins(%)
4.0
%
3.9
%
3.0
%
2.5
%
1.8
%
1.5
%
1.2
%
0.9
%
0.5
%
0.2
%
BR
I
BC
A
Man
diri
BN
I
Dan
amo
n
BTN
Pan
in
Perm
ata
BII
CIM
B N
iaga
Return on Assets (Before Tax)(%)
21
,68
5
17
,34
1
16
,78
3
14
,21
9
3,3
66
1,8
30
1,6
00
1,4
73
1,0
08
1,0
01
BR
I
Man
diri
BC
A
BN
I
CIM
B N
iaga
BTN
BII
Dan
amo
n
Perm
ata
Pan
in
ATMs
Average
Notes
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…………………………………………………………………………………………..
97
The analysts listed above actively follow Bank Mandiri, but not all have issued research reports or formally initiated coverage.
Equity Research Contact Details
BROKERAGE ANALYST TELEPHONE E-MAIL
BAHANA SECURITIES Teguh Hartanto 62 21 250 5081 [email protected]
BANK OF AMERICA-MERRILL LYNCH Tay Chin Seng 65 6591 0419 [email protected]
BARCLAYS CAPITAL Sharnie Wong 852 2903 3457 [email protected]
BNP PARIBAS Igor Nyoman 62 21 2358 4947 [email protected]
CIMB SECURITIES Jovent Giovanny 62 21 515 1330 ext. 262 [email protected]
CITI INVESTMENT RESEARCH Salman Ali 62 21 2924 9219 [email protected]
CLSA LIMITED Sarina Lesmina 62 21 2554 8820 [email protected]
CREDIT SUISSE Sanjay Jain 852 2101 6088 [email protected]
DANAREKSA SEKURITAS Adriana Indrajatri 62 21 2955 5777 [email protected]
DBS VICKERS SECURITIES Lim Sue Lin 603 2711 0971 [email protected]
DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 62 21 2964 4525 [email protected]
GOLDMAN SACHS (ASIA) Ben Koo 65 6889 2483 [email protected]
HSBC LTD Loo KarWeng 65 6239 0654 [email protected]
INDO PREMIER SECURITIES Stephan Hasjim 62 21 5793 1168 [email protected]
J.P. MORGAN ASIA Harsh Modi 65 6882 2450 [email protected]
KIM ENG SECURITIES Rahmi Marina 62 21 2557 1188 [email protected]
MACQUARIE CAPITAL SECURITIES INDONESIA Lyall Taylor 62 21 2598 8489 [email protected]
MORGAN STANLEY Mulya Chandra 62 21 3048 8125 [email protected]
NOMURA Jaj Singh 65 6433 6973 [email protected]
SANFORD C. BERNSTEIN Kevin Kwek 65 6230 4650 [email protected]
UBS Joshua Tanja 62 21 574 0111 [email protected]
UOB KAY HIAN Alexander Margaronis 62 21 2993 3876 [email protected]
PT Bank Mandiri (Persero) Tbk
PLAZA MANDIRIJl. Jend. Gatot Subroto Kav.36-38Jakarta 12190, IndonesiaTel: 62-21 526 5045Fax: 62-21 527 4477, 527 5577Call Center: 14000www.bankmandiri.co.id
Contact Information:Investor Relations
Tel: +62 21 524 5085Fax: +62 21 5290 4249
E-mail: [email protected]://ir.bankmandiri.co.id
Corporate SecretaryTel: +62 21 524 5740
Fax:: +62 21 526 8246
