PT Bank Mandiri (Persero) Tbk FY 2019 Results Presentation
115
PT Bank Mandiri (Persero) Tbk FY 2019 Results Presentation January 24, 2020
Transcript of PT Bank Mandiri (Persero) Tbk FY 2019 Results Presentation
PT Bank Mandiri (Persero) TbkFY 2019Results Presentation
January 24, 2020
Share Price Performance and Information
2
No. of Investor % No. of shares %
I DOMESTIC
1. Government of RI 1 0.00% 28,000,000,000 60.00%
2. Retail 28,401 88.03% 425,255,388 0.91%
3. Employees 1,439 4.46% 13,095,464 0.03%
4. Cooperatives 7 0.02% 1,585,300 0.00%
5. Foundation 19 0.06% 34,608,390 0.07%
6. Pension Funds 138 0.43% 387,923,102 0.83%
7. Insurance 112 0.35% 1,203,481,520 2.58%
8. Banks - 0.00% - 0.00%
9. Corporations 112 0.35% 933,572,424 2.00%
10. Mutual Funds 354 1.10% 1,514,738,456 3.25%
Total 30,583 94.79% 32,514,260,044 69.67%
II INTERNATIONAL
1. Retail 189 0.59% 4,325,894 0.01%
2. Institutional 1,491 4.62% 14,148,080,728 30.32%
Total 1,680 5.21% 14,152,406,622 30.33%
III TOTAL 32,263 100.00% 46,666,666,666 100.00%
No. DescriptionBy 31 December 2019
-250%
250%
750%
1250%
1750%
2250%
2750%
Dec
-03
Jun
-04
Dec
-04
Jun
-05
Dec
-05
Jun
-06
Dec
-06
Jun
-07
Dec
-07
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-08
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-09
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-10
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-19
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-19
BMRI JCI
∆ from: IPODec 31, 2018
(YTD)
BMRI 2211.75% 4.07%
JCI 1100.63% 1.70%
PT Bank Mandiri (Persero) TbkFY 2019
CEO Slides
January 24, 2020
3
Agenda
Record FY19 Earnings
Key Messages
1
2
4
3
Addressing market concerns last year
4 Positive & Credible 2019 result
5 Addressing market concern last year
Asset Quality Improvement6
7 IFRS 9/ PSAK 71 Implementation in Jan 2020
8 Integrating Wholesale and Retail Segment
9 Moving towards a Sustainable Bank
Key Messages
5
Positive & Credible 2019 result
Continuing effort in asset quality improvement
Strengthening integration between wholesale and retail
Positive & Credible 2019 result
FY18 FY19 Growth YoY
Loan Rp 820 Tn Rp 907 Tn 10.7%
Core PPOP Rp 46 Tn Rp 49 Tn 6.5%
NIM 5.66%*) 5.56% (10bps)
OPEX Rp 38 Tn Rp 40 Tn 6.7%
Net Profit Rp 25 Tn Rp 27.5 Tn 9.9%
Selective growth on good quality loans
Strong growth
Resilient despite headwinds
Strong Opex Control
Record High
6
*) Changes in accounting treatment resulted in 2018 P&L restatement (lower NII and higher fee income)
Addressing market concern last year
7
Market Concerns Results
Concerns on Acquisition/Expansion:
• Pricey acquisition of other banks• Bailing out problematic financial institution• Regional expansion causing value destruction
• Focus on shareholder value creation
• Positive 2019 result despite these headwinds
NIM Pressure due to Tight Liquidity
• Actual NIM was inline with guidance
• YTD 3Q NIM movement (19 bps) was more resilient than average peers (30 bps)
Asset quality
• NPL and credit cost continued to improve by 42 bps and 43 bps YoY
• Strong risk management oversight resulted in actual credit cost and NPL to stay in line with our guidance
14.2
12.1
Dec-18 Dec-19
Discipline Early Warning System and Methodology Rigorous watchlist process
Quarterly Panel Review to identify potential problems
Sensitivity Analysis
Booking mix monitoring
Asset quality improvement is partly attributed to effective credit risk strategy
8
Strategy for sustainable growth Non Performing Loan
Setting sound risk appetite framework to obtain good quality pipeline Business growth strategy: loan follow transaction
Rigorous name clearance process as a filter to obtain potential pipeline
Regular pipeline discussion by Business Unit and Credit Risk Taking Unit
More granular industry sectors portfolio guideline
Focus on low risk customers, ideally within corporate segment value chain
1
2
3Rigorous Credit Settlement for Potential Problematic Loans Early restructuring scheme
Finding new investors to strengthen debtors’ financial
Intensive recovery of written off loans
Rp Tn
Portfolio Mix
Vintage SML (SME)
89%
11%
90%
10%
Prospective sectors Selective
2018 2019
2.8%
2.3%
Dec-18 Dec-19
Provision Charge Cost of Credit
1.8%
1.4%
Dec-18 Dec-19
Vintage NPL (Commercial)
0%
10%
20%
30%
2011 2013 2015 2017 2019
Year originated
0%
5%
10%
0 1 2 3 4 5 6 7 8 9 10 11 12(month)
IFRS 9/ PSAK 71 Implementation in Jan 2020
9
Rp 21 – 25 Tn
Retail10%
Wholesale
90%
Estimated Additional Provision Impact
CAR- 220 to -250
bps
LaR Coverage63% - 67%
NPL Coverage255% - 275%
Direct adjustment
against equity
Leveraging customer data to cross sell products
through Customer Targeting
Integrating Wholesale and Retail Segment
10
Wholesale Retail
Consumer & Micro SegmentEmployee Payroll Account
SME SegmentDistributor and Supplier Financing
value chain
Fee Based
IncomeLoan Growth
through Business Process Reengineering & Digitizing
Customer Journey
FY2020 Outlook
• NIM and asset quality as priorities
• Optimizing product cross selling
• On track to deliver 16-18% ROE target
in two years time.
2019 Guidance
2019 Realization
2020Target
Gross Loan (Ending Balance) Growth (YoY)
8%-10% 10.7% -
Gross Loan (Avg. Balance) Growth (YoY)
- 10.0% 8%-10%
Net Interest Margins
5.6% - 5.8% 5.56% 5.4% - 5.6%
Gross NPLs 2.5% - 2.7% 2.33% 2.1%-2.3%
Cost of Credit 1.5% - 1.7% 1.40% 1.2-1.4%
Efficiency Ratio <45.0% 45.7% <45.0%
FY 2020 Guidance Mid Term Outlook
11
Moving towards a Sustainable Bank
12
Gradual Implementation of Sustainable Banking
in four priority sectors Empowering our Human Capital
Green OfficeBuildings
Financial Inclusions forSMEs and Micro Businesses
CSR Activities such asCommunity Empowerment
Proactive Strategy on Information Security
MSCI rating: BBBMSCI ESG Rating
PT Bank Mandiri (Persero) TbkFY 2019
Results Presentation
January 24, 2020
14
Table of Contents
Results Overview Page #
Corporate Achievement 15
Indonesia’s Economic Condition 16
Corporate Strategy 17 – 18
Key Indicators + Financial Highlights 19 – 21
Balance Sheet 22 – 24
Profit & Loss 25 – 27
ROE & NIM 28 – 29
Wholesale Business 30 – 31
Funding Business 32
Retail Business 33 – 35
Digital Banking & eChannel Transactions 36 – 37
Asset Quality 38 – 41
Subsidiaries 42
ESG (Environment, Social, and Governance) Implementation 43 – 45
Corporate Guidance 46
Additional Information
Operating Performance Highlights
Supporting Materials
14
15
Sustainable Growth
IT Transformation Risk Management Transformation Culture Transformation
15
2016 2017 2018 2019YoY CAGR
FY18-FY19 ‘16-’19
NPAT (Rp Tn) 13.8 20.6 25.0 27.5 9.9% 18.8%
Loan (Rp Tn) 662.0 730.0 820.1 907.5 10.7% 8.2%
Provision Expense (Rp Tn) 24.7 16.0 14.2 12.1 (14.9%) (16.4%)
Adj. ROAE – after tax (%)* 11.0 13.5 14.9 14.8 (11bps) 7.7%
ROA – before tax (%) 2.0 2.6 2.97 2.92 (5bps) 9.9%
CoC (%) 4.0 2.3 1.8 1.4 (43bps) (23.1%)
NPL (%) 4.0 3.5 2.8 2.3 (42bps) (12.6%)
NPL Coverage (%) 124 135 143 144 1ppt 3.9%
# Active Users Mandiri Online (‘000) - 846 1,882 3,233 71.8% N/A
# Active e-Money Cards (‘000) 992 1,879 2,083 2,606 25.1% 27.3%
*Adj ROAE: NPAT to common shareholders/average shareholder equity excl Minority Interest
More Accommodative Policies to Support Growth
Average Price 2018 2019 2020F
Oil Price Forecast(USD per barrel)
71.7 64.2 68.0
Palm Oil(USD per metric ton)
559.5 524.7 540.0
Steam Coal(USD per metric ton)
107.2 77.0 75.0
Global Commodity Price Outlook
Source: Bloomberg, Mandiri Group Forecast
Global Growth and Policy Rate Projection
Source: IMF’s World Economic Outlook (as of Oct 19), FOMC (as of Dec 19), Bloomberg (as of Jan 20) and Mandiri Group Forecast
Indonesia's GDP, Investment and Inflation
Source: BPS and Mandiri Group Forecast
Indonesia's CAD and Fiscal Deficit
Source: Bank Indonesia, Ministry of Finance and Mandiri Group Forecast
-3.2 -3.1
-2.2
-1.8 -1.7
-2.3 -2.3
-2.6-2.5 -2.5
-1.8 -1.8
-3.0 -2.6
-2.9
-1.8
-2.2-2.3
2013 2014 2015 2016 2017 2018 2019F 2020F
CAD (% to GDP)Fiscal Deficit (% to GDP) - APBNCAD (% to GDP) - OCE EstFiscal Deficit (% to GDP) - OCE Est & Realization for 2019
5.6 5.0
4.9
5.0
5.1 5.25.0
4.5
5.0
4.5
6.2
8.1 8.4
3.4 3.0 3.63.1
5.1 5.1
6.7
4.96.0
2.73.3
2013 2014 2015 2016 2017 2018 2019F 2020FGDP Growth (%) Investment Growth (%)
Inflation (%, end of year) GDP Growth (%) OCE Est
Investment Growth (%) OCE Est Inflation (%, end of year)OCE Est
Growth Forecast (%) 2018 2019 2020F
Global 3.6 3.0 3.4
USA 2.9 2.4 2.1
China 6.6 6.1 5.8
Policy Rate (%) 2018 2019 2020F
USA: FFR 2.50 1.75 1.60
Eurozone: ECB MRO 0.00 0.00 0.00
Indonesia: BI-7DRRR 6.00 5.00 4.75
16
Corporate Plan – Bank Mandiri’s 2020 Initiatives
Accelerate in Growth Segments
Integrate The GroupDeepen Client Relationship
Indonesia’s Best ASEAN’s Prominent:Grow above the market, portfolio quality focused, employer of choice in Indonesia
Current Achievements
Consumer Loans Rp94.3Tn (+7.9% YoY)
Micro Loans Rp123.0Tn (+20.1% YoY)
SME Loans Rp58.7Tn (+3.4% YoY)
Current Achievements Current Achievements
Corporate Banking Loans Rp365.0Tn (+9.5% YoY)
Total income from subsidiaries Rp3.4Tn (12.5% of EAT)
Average CASA per branch grew by 14.3%
17
• Concentrate on growing salary-based
loan
• Focus on micro fixed income earners
and asset-backed consumer lending
• Leverage potentials from non-debtor
SME clients’ business
Drive subsidiaries’ performance by
increasing synergies within the
Mandiri Group.
Increase distribution network
productivity
Strengthen presence in ASEAN
countries
• Strengthen Bank Mandiri’s position as
the No. 1 and becoming client’s top of
mind in Corporate Banking
• Focus on cross-selling to optimize fee
income potential from corporate
clients
• Grow commercial business by tapping
into the value chain from corporate
clients
Our Portfolio Mix Would Be More Retail-Focused
Consumer
Micro
SME
Assets Composition Mix
Commercial
Corporate 66% 65% 65%
34% 35% 35%
2016 2019 2020
Time Deposits
Liabilities Composition Mix
CASA
Bank-only figures & using average balance 18
39%45% 45%
28% 19% 18%
10%8% 8%
9% 16% 17%
14% 12% 12%
2016 2019 2020
19
Key Metrics Are Turning Positive
22
.0%
24
.5%
24
.6%
23
.5%
23
.2%
21
.7%
19
.3%
11
.0%
13
.5%
14
.9%
14
.8%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
*
Adj. ROAE (%)
Total CASA (Rp Tn) Non Performing Loan (%)
18
6.5
20
2.0
25
6.4
31
6.1
36
0.0
38
0.5
44
3.9
48
9.4
54
0.3
53
9.1
60
9.6
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
2.8
%
2.4
%
2.2
%
1.9
%
1.9
%
2.2
%
2.6
%
4.0
%
3.5
%
2.8
%
2.3
%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
7.2
9.2
12
.2
15
.5
18
.2
19
.9
20
.3
13
.8
20
.6
25
.0
27
.5
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
Earning After Tax (Rp Tn)
12
.4
16
.7
19
.2
23
.0
28
.4
31
.5
38
.4
43
.3
43
.1
48
.1
48
.5
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
…
20
17
20
18
20
19
PPOP (Rp Tn)
Net Interest Margin (%)
5.0
%
5.3
%
5.1
%
5.6
%
5.7
%
6.0
%
6.1
%
6.4
%
5.8
%
5.7
%
5.6
%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
**
20
17
20
18
***
20
19
YoY9.9%
YoY13.1%
YoY(10 bps)
YoY(11bps)
YoY(42 bps)
YoY0.9%
*Include Rp 2.9tn fixed asset revaluation in 2016 and Rp 3.9Tn in 2019** If we adjust the interest income from special repayment in 2016, NIM would be 6.1% and PPOP would be Rp 41.3tn*** Changes in accounting treatment resulted in 2018 P&L restatement (lower NII and higher fee income)
Deposits Average Balance by Product*)
(Rp Tn)Loans Average Balance*)
(Rp Tn)
Loan & Funding Breakdown (Using Daily Average)
20*) Consolidated figures**) Elimination of MTF and MUF
281.8 314.8 313.0 316.3 319.4
140.4 133.5 131.4 132.6 134.1
52.4 54.5 54.0 53.9 54.8
91.4 103.9 106.1 108.5 111.3
81.3
86.2 85.9 86.1 87.0 92.5
100.8 102.6 109.3 107.1
-
200.0
400.0
600.0
800.0
1,000.0
FY'18 1Q'19 1H'19 9M'19 FY'19
Subsidiaries Consumer Micro
SME Commercial Corporate
739.9
793.6794.5
806.8 813.7
193.6 186.1 185.2 189.2 197.2
270.8 279.2 279.6 280.2 281.9
234.8 255.7 256.6 256.4 259.7
98.5103.8 105.2 107.9 109.1
-
200.0
400.0
600.0
800.0
1,000.0
FY'18 1Q'19 1H'19 9M'19 FY'19
Subsidiaries Time Deposit
Saving Deposit Demand Deposit
796.4823.6
825.1832.0
846.1+10.0%
+6.2%
YoY
6.9%
13.3%
(4.5%)
4.5%
21.7%
15.7%
YoY
10.6%
1.9%
4.1%
10.8%
**)
FY 2018 FY 2019 r
Loans Rp 820.1Tn Rp 907.5Tn 10.7%
Gross NPL Ratio 2.75% 2.33% -42 bps
Low Cost Funds Ratio 64.1% 65.3% 122 bpsLow Cost Funds (Rp) Rp 539.1 Tn Rp 609.6 Tn 13.1%
NIM 5.66%**) 5.56% -10 bps
Efficiency Ratio 44.4% 45.7% 127 bps
PPOP Rp 48.1 Tn Rp 48.5 Tn 0.9%
Core PPOP Rp 45.6 Tn*) Rp 48.5 Tn 6.4%
Earnings After Tax Rp 25.0 Tn Rp 27.5 Tn 9.9%
21
Key Consolidated Financial Highlights
Bank Mandiri’s FY2019 performance continues to improve:
*) Exclude divestment of MAGI and Mantap amounting to Rp 447 Bn and one-off tax related items amounting to Rp 2 Tn**) Changes in accounting treatment resulted in 2018 P&L restatement (lower NII and higher fee income
22
Strong Balance Sheet
(Rp Bn, Consolidated)
Assets 31 Dec 2019 31 Dec 2018 Liabilities 31 Dec 2019 31 Dec 2018
Cash 28,094 27,349 Current Account 250,414 200,506
Current Acc w/ BI & Other Banks 59,054 74,689 Savings 359,161 338,601
Placement w/ BI & Other banks 37,616 22,566 Time Deposits 323,549 301,807
Receivables (Acceptances & Others)
40,696 40,302
Marketable Securities 71,333 63,932 Total Deposits 933,125 840,914
Government Bonds 129,000 114,285
Loans (Gross) 907,456 820,084 Securities Issued 32,245 19,089
Provisions of Loans (30,351) (32,177) Deposits from other banks 13,844 16,927
Net Loans 877,105 787,907 Subordinated Debt 664 686
Reverse Repo 1,955 2,098 Borrowings 54,129 51,654
Other Provisions (2,292) (2,681)Other Int. Bearing Liabilities
14,062 30,500
Deferred Tax Assets 3,952 4,998 Non Int. Bearing Liabilities 61,143 57,521
Other Assets 71,732 66,809Equity incl. Minority Interest
209,035 184,960
Total 1,318,246 1,202,252 Total 1,318,246 1,202,252
Quarterly LFR & MIR(Consolidated)
23
Liquidity Indicators (LCR & NSFR) > 100%
16
9.7
17
7.0
20
0.1
23
1.3
26
5.3 32
9.8
36
4.81
17
.1
14
2.9 16
0.7 16
5.2
15
5.8 1
42
.6 15
1.6
46.5
56.160.5
60.861.6
56.8
58.7
36.8
46.5
56.6
68.183.2
102.4
123.0
46.8
52.8
58.1
67.3
78.3
87.4
94.3
2013 2014 2015 2016 2017 . '2018 '2019
Corporate Commercial SME Micro Consumer
Quarterly Loan Segment Details(Bank Only)
Y-o-Yr
7.9%
20.1%
3.3%
6.3%
10.6%
10.2%Total
11.9%
15.5%
7.4%
19.1%
46.1%
Breakdown
As of December 2019; Bank-Only numbers
100.0%
87.1%86.7%
87.2%89.4%
85.4%
88.7%88.1%88.0%87.2%
89.6%
93.1%91.5%
95.5%
92.6%95.5%
90.3%
94.2%
92.8%
96.9%
94.0%
96.9%
91.7% 93.9%
20
15
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
LFR (%) MIR (%)
LCR & NSFR(Consolidated & Bank Only)
MIR : Macroprudential Intermediation Ratio
Dec-18 Mar-19 Jun-19 Sep-19 Dec-19
LCR-Consolidated 167.4% 174.4% 179.2% 173.4% 177.7%
LCR Bank-Only 170.6% 178.4% 187.4% 181.6% 184.1%
NSFR-Consolidated 117.1% 116.6% 116.2% 120.8% 116.6%
NSFR-Bank Only 116.9% 117.3% 116.7% 121.9% 116.6%
24
Rp 217.6 Tn in Loans Disbursed in 4Q 2019
728.1
217.6
136.7
10.6 2.63.4
792.4
3Q'19 Disburs. Install. Pay-off FX Impact Write-Offs
4Q'19
Loan Movement– 4Q 2019 Bank-OnlyRp Tn
Loan Disbursement by Segment – 4Q 2019 Bank-OnlyRp Tn
142.0
34.4
13.0
19.8
8.4
217.6
CorporateCommercial SME Micro Consumer Total
25
Strong Control on Opex and Credit Cost
*) Include other income from tax reversal of Rp 1.3 Tn and divestment gain of MAGI and Mantap amounting to Rp 447 Bn**) Include divestment of MAGI and Mantap amounting to Rp 447 Bn and one-off tax related items amounting to Rp 2 Tn***) include Rp 625 bn tax reserve to anticipate for potential tax penalty
Summary P&L (Rp Bn)4Q19 FY19
4Q19 4Q18 Y-o-Y 3Q19 Q-o-Q FY19 FY18 Y-o-Y
Interest Income 23,755 21,568 10.1% 23,282 2.0% 91,525 80,993 13.0%
Interest Expense 8,255 7,288 13.3% 8,187 0.8% 32,085 26,370 21.7%
Net Interest Income 15,500 14,280 8.5% 15,095 2.7% 59,440 54,623 8.8%
Net Premium Income 423 470 -10.0% 482 -12.2% 1,808 2,707 -33.2%
Net Interest Income & Premium Income 15,923 14,750 7.9% 15,577 2.2% 61,248 57,330 6.8%
Non Interest Income
* Core Non-Interest Income 6,956 6,723 3.5% 5,691 22.2% 22,835 21,741 5.0%
* Gain fr. sale & Incr. in Val & Sale of Bonds 222 33 563.5% 332 -33.3% 862 656 31.5%
* Other Non Interest Income 535 2,731 -80.4% 1,105 -51.6% 3,655 5,931 -38.4%
Total Non Interest Income 7,712 9,488 -18.7% 7,128 8.2% 27,352 28,328 -3.4%
Total Operating Income 23,635 24,238 -2.5% 22,705 4.1% 88,600 85,657 3.4%
Provisions, Net (1,798) (3,224) -44.2% (4,062) -55.7% (12,072) (14,185) -14.9%
Personnel Expenses (4,827) (4,543) 6.3% (4,165) 15.9% (17,221) (16,323) 5.5%
G&A Expenses (5,229) (4,747) 10.2% (4,467) 17.1% (17,635) (16,587) 6.3%
Other Expenses (1,817) (1,412) 28.7% (1,194) 52.2% (5,220) (4,656) 12.1%
Total Expense (11,873) (10,703) 10.9% (9,826) 20.8% (40,076) (37,566) 6.7%
Profit from Operations 9,963 10,311 -3.4% 8,817 13.0% 36,452 33,906 7.5%
Non Operating Income 49 14 239.2% (12) N/A (10) 38 -126.8%
Net Income Before Tax 10,012 10,326 -3.0% 8,805 13.7% 36,441 33,943 7.4%
Net Income After Tax 7,232 6,923 4.5% 6,719 7.6% 27,482 25,015 9.9%
*) **)
*** ***
26
Breakdown of 4Q 2019 Non-Loan Related Fees & Commissions (Rp Bn)
Greater Detail On Non-Interest Income
Non-Loan Related Fees & Commissions 4Q 2019 3Q 2019 4Q 2018YoY 4Q QoQ
FY 2019 FY 2018YoY FY
Δ% Δ% Δ%
Administration Fees 1,113 930 982 13.3% 19.7% 3,748 3,643 2.9%
Opening L/C, BG & Cap. Market (Custodian & Trustee) 408 363 383 6.5% 12.4% 1,431 1,399 2.3%
Subsidiaries 1,116 472 511 118.2% 136.4% 2,623 1,894 38.5%
Transfer, Retail Transaction 837 766 782 7.0% 9.2% 3,044 2,799 8.8%
Credit Cards 602 558 572 5.3% 7.9% 2,205 2,165 1.8%
Mutual Fund, ORI & Bancassurance 137 131 134 2.2% 4.1% 506 498 1.6%
Syndications 236 279 311 -24.1% -15.3% 673 669 0.6%
Cash Recoveries 1,587 1,242 2,079 -23.7% 27.8% 4,747 5,070 -6.4%
Foreign Exchange Gains 882 966 969 -9.0% -8.8% 3,872 3,657 5.9%
Total Core Non-Interest Income 6,956 5,691 6,723 3.5% 22.2% 22,835 21,741 5.0%
Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds 222 332 33 563.5% -33.3% 862 656 31.5%
Others Income 535 1,105 2,731*) -80.4% -51.6% 3,655 5,931**) -38.4%
Total Non-Interest Income (As Reported) 7,712 7,128 9,488 -18.7% 8.2% 27,352 28,328 -3.4%
Total Operating Income 23,635 22,705 24,238 -2.5% 4.1% 88,600 85,657 3.4%
% of Non Loan Related fees to total opr. income 32.6% 31.4% 39.1% 30.9% 33.1%
*) Include other income from tax reversal of Rp 1.3 Tn and divestment gain of MAGI and Mantap amounting to Rp 447 Bn**) Include divestment of MAGI and Mantap amounting to Rp 447 Bn and one-off tax related items amounting to Rp 2 Tn
4,3
25
5,4
57
7,0
24
8,2
54
9,8
98
11
,44
8
12
,80
0
13
,95
9
15
,40
5
16
,58
7
17
,63
5
4,8
53
5,7
78
6,7
52
8,0
45
9,4
31
10
,84
7
12
,37
7
13
,61
9
14
,85
9
16
,32
3
17
,22
1
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
G&A Expenses Personnel Expenses27
45.0%42.4%
46.1% 46.6%44.1% 44.9% 43.0% 42.4%
45.4% 44.4% 45.7%
CIR (%)
Opex Growth at 6.7%
Consolidated Operating Expenses & CIR
(Rp Bn) (Rp Bn)
Breakdown of Operating Expense
4Q 2019 3Q 2019 4Q 2018Growth
FY 2019 FY 2018 YoY QoQ YoY
Personnel Expenses
Base Salary 1,128 1,082 1,034 4.2% 9.1% 4,399 4,110 7.0%
Other Allowances 1,956 1,803 2,022 8.5% -3.2% 7,315 7,087 3.2%
Post Empl. Benefits 193 121 231 59.0% -16.4% 619 602 2.9%
Training 252 121 219 109.0% 14.9% 571 593 -3.7%
Subsidiaries 1,298 1,038 1,037 25.0% 25.1% 4,317 3,931 9.8%
Total Personnel Expenses 4,827 4,165 4,543 15.9% 6.3% 17,221 16,323 5.5%
G&A Expenses
IT & telecoms 705 708 713 -0.4% -1.0% 2,709 2,580 5.0%
Occupancy Related 848 833 860 1.8% -1.4% 2,999 3,025 -0.9%
Promo & Sponsor 556 302 522 84.1% 6.5% 1,444 1,327 8.8%
Transport & Travel 261 189 236 38.3% 10.7% 836 786 6.3%
Goods, Prof. Svcs. & Oth.
1,029 746 848 37.9% 21.3% 2,905 2,466 17.8%
Employee Related 723 705 799 2.6% -9.5% 2,838 2,881 -1.5%
Subsidiaries 1,108 984 770 12.6% 43.8% 3,904 3,522 10.9%
Total G&A Expenses 5,229 4,467 4,747 17.1% 10.2% 17,635 16,587 6.3%
Other Expenses 1,817 1,194 1,412 52.2% 28.7% 5,220 4,656 12.1%
Total Operating Expenses 11,873 9,826 10,703 20.8% 10.9% 40,076 37,566 6.7%
CIR 50.7% 43.9% 43.7% (679bps) (705bps) 45.7% 44.4% 127 bps
23.2%
24.6%
20.8% 15.7%15.4%
13.4%15.3%
15.5%
14.9%
16.6%18.6%
21.4%21.6%
21.0% 21.4%
CAR
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
64
3.4
70
7.8
79
9.2
88
2.8
27.4 28.4 28.3 27.2 30.5 35.7 53.3 62.0 73.9 85.7 107.4 137.4 153.2 167.7 188.8
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
RWA (Rp Tn) Total Capital (Rp Tn)
28
Total CAR at 21.4% with Adj. ROAE at 14.8%
Profit After Tax & Adj. ROAE (Consolidated)
1.1Tn from GIAA Recovery
519 1,168 1,549 1,744 519 2,003 2,681 3,403 4,303 4,925 5,138
3,817 4,079 5,860
7,233 1,099
97 305 1,113
1,221 1,526 2,031
2,543 3,744
3,991 4,660 4,786
3,263
5,384
6,318
6,298
967 1,017
1,528 1,408
610
2,352
1,040
1,345
4,509
4,869 4,658
4,933
5,606
5,914
6,719
(623)
1,234
1,166 1,390
2,536
2,833
3,073
4,385
5,401
5,418 5,753
1,794
5,571
6,923
7,232
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
Q4 PAT
Q3 PAT
Q2 PAT
Q1 PAT
Rp Bn
Bank Only - Capital & RWA Movement
• CAR inclusive of Credit and Market Risk started in December 2004• CAR inclusive of Credit, Market and Operational Risk started in January 2010
2.5%
9.8%
15.6%17.8%
22.0%
24.5% 24.6%23.5%23.2%
21.7%
19.3%
11.0%
13.5%14.9% 14.8%
―Adj. RoAE - AT
29
Q4 Bank-Only NIM of 5.39%
5.3
5%
5.6
5%
6.1
2%
6.1
5%
5.4
4%
5.7
9%
5.7
4%
6.7
4%
6.3
1%
5.8
5%
7.0
9%
5.9
8%
5.7
1%
5.6
2%
5.6
3%
5.6
1%
5.6
2%
5.4
2%
5.5
4%
5.5
3%
5.5
5%
5.4
4%
5.4
8%
5.3
9%
4Q
'11
4Q
'12
4Q
'13
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
**
1Q
'16
2Q
'16
3Q
'16
**
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
NIM
8.5
8.1
9.09.7
9.0
9.19.2
9.89.0
8.7
9.8
8.68.3
8.28.3 8.0 7.9 7.8
8.1 8.2
8.3
8.28.2 8.1
3.4
2.6
3.03.7 3.8
3.53.5 3.2 3.1
3.13.0 3.0 2.9 2.9
2.9 2.72.6
2.6
2.82.9 2.9
3.0
2.94 2.90
Yield on Assets (%)Cost of Funds (%)
Quarterly Net Interest Margin Quarterly Yields & Costs by Currency (%)
5.34.9 5.1
6.8
4.2 4.3 4.4
6.4
4.54.2
13.5
3.74.3
4.24.4
4.1 4.1 4.2 4.4 4.45.0 4.9 4.9 5.2
0.6 0.7 0.7 0.91.1 0.8 0.7 0.7 1.0 1.2 1.2 1.3 1.3 1.1 1.2 1.2 1.2 1.4 1.6 1.8 2.0
2.1 2.0 2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.04
Q'1
14
Q'1
24
Q'1
34
Q'1
41
Q'1
52
Q'1
53
Q'1
54
Q'1
51
Q'1
62
Q'1
63
Q'1
64
Q'1
61
Q'1
72
Q'1
73
Q'1
74
Q'1
71
Q'1
82
Q'1
83
Q'1
84
Q'1
81
Q'1
92
Q'1
93
Q'1
94
Q'1
9
12.2
11.3
11.912.512.012.2
12.2
12.1 11.8 11.3
11.3
11.3 10.810.5 10.610.3 10.2
9.9
10.0
10.0
10.110.1 10.26
9.84
4.3 4.05.3
6.06.4 6.4 6.7 6.9 7.0
6.6 6.7 6.7 6.67.1
6.2 6.2 5.7 5.7 6.0
7.2 6.8 6.9 6.9 6.9
3.9 3.0 3.74.4 4.5 4.3
4.3
3.8 3.7 3.6 3.5 3.4 3.3 3.3 3.3 3.0 2.9 2.9 3.1 3.2 3.3 3.4 3.3 3.3
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
4Q
'11
4Q
'12
4Q
'13
4Q
'14
1Q
'15
2Q
'15
3Q
'15
4Q
'15
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Avg Loan Yield Avg Bond Yield Avg Total Deposit
IDR
F X
** 4Q 15 / 3Q16, If we adjust the interest income from special repayment last year, NIM would be 6.5% / 6.0% , YoA would be 9.5% / 8.9%, Average FX Loan Yield 4.2% / 4.2%
30
Top 5 Industries in Corporate Lending Expansion
4.89
6.48
7.01
9.48
13.84
F&B
Electricity
Mining
Telco
Financials
r%
76%
202%
129%
23%
12%
Rp Tn
Top 5 Industries in Commercial Lending Expansion
1.71
1.76
2.04
4.04
4.66
Trad-Ret
Manufacturing
Multifinance
Plantations
Real Estate
r%
148%
18%
72%
26%
99%
Diversifying our Strength in Wholesale Lending…
Rp Tn
QoQ Rp37.3Tn
r%
20%
71%
24%
977%
11%
Rp Tn
QoQ Rp13.4Tn
1.49
1.70
1.85
2.91
4.68
Telco
Mining
Trad-Ret
Multifinance
Plantations
r%
21%
149%
117%
151%
32%
Rp Tn
YoY Rp35.0Tn YoY +Rp9.0Tn
4.24
5.35
6.18
9.48
14.32
Telco
Mining
Trad-Ret
Financials
F&B
31
Wholesale Transactions Driving CASA
Mandiri Cash Management Users
Cash Management*
*) Excluding Mandiri Transaction System
74
5
2,4
14
4,0
66
6,1
53
7,7
84
10
,94
3
11
,89
9
12
,93
2
13
,87
3
15
,10
1
17
,59
2
21
,79
4
25
,39
9
31
,57
0
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
54
9
81
8
1,5
19
2,2
31
3,1
20
3,7
78
4,5
49
6,2
87
7,3
33
8,5
192,503 7,668 13,676
24,543
44,184 61,599
82,075
120,520
183,082
290,613
(6 0,000 )
(1 0,000 )
40,0 00
90,0 00
140 ,000
190 ,000
240 ,000
290 ,000
(5 00.0)
500 .0
1,50 0.0
2,50 0.0
3,50 0.0
4,50 0.0
5,50 0.0
6,50 0.0
7,50 0.0
8,50 0.0
9,50 0.0
De
c 10
De
c 11
De
c 12
De
c 13
De
c 14
De
c 15
De
c 16
De
c 17
De
c 18
De
c 19
Value (Rp Tn) # of Trx (000)
32
Lower Time Deposit Rates QoQ
2.0% 2.1% 2.1% 2.0%2.3% 2.3% 2.2% 1.9% 2.1% 2.2% 2.1% 2.1% 2.4% 2.4% 2.4% 2.5%
1.5% 1.4% 1.2% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1%
6.2%
7.6%
6.7%
6.1%6.0% 5.9% 5.9%
5.5%5.2% 5.0%
5.5% 5.7% 5.8% 6.0% 5.9% 5.7%
0%
5%
10%
4Q
'13
4Q
'14
4Q
'15
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Rp DD
Rp Savings
Rp TD
Average Quarterly Deposit Costs (%)
0.3%0.3%0.2%
0.8%0.7%
0.2%0.4%
0.4%
0.3% 0.3%
0.3% 0.7%0.7%
0.4% 0.7%0.7%
0.7%
1.2%
0.6%0.5%
0.7%0.6%
0.6%0.6% 0.5%0.8%
1.6% 1.8% 1.8%
2.5%2.2% 2.2%
0.0%
1.0%
2.0%
3.0%
4.0%
4Q
'13
4Q
'14
4Q
'15
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
FX DD FX TD
19
0.9
20
2.6
20
9.8
23
3.5
22
0.5
23
7.0
23
6.0
26
1.5
23
9.5
25
7.7
25
3.7
26
1.5
25
2.9
26
3.2
26
0.6
27
4.5
20.724.0 23.1
26.024.5
23.5 22.5
22.3
21.323.2 23.7 22.4 23.0
23.1 23.222.0
33.040.2 31.9
36.532.9
34.8 33.1
43.5
37.438.8 41.5
47.240.3
41.3 45.951.8
9.39.1 7.1
7.5
9.28.0 7.8
8.27.1
6.9 9.18.6
84.5
120.0110.3
120.0119.5
121.8123.7
130.3
128.6127.3132.0
129.2126.7
127.1132.8136.6
7.0
9.5
7.4
10.711.7
10.9 11.2
11.8
10.810.2 11.8
12.311.8
13.013.1
13.8
020406080
100120140160180200220240260280300320340360380400420440460480500520540
4Q
'13
4Q
'14
4Q
'15
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Rp Savings Deposits FX Savings Deposits Rp Demand Deposits
FX Demand Deposits Rp Time Deposits FX Time Deposits
Retail Deposit Analysis – Bank Only (Rp Tn)
CASA as % of total deposits
73.7%68.4%
69.8%
70.0%68.6%69.6%
68.9%
70.2%
68.8%
70.5%
69.4%
70.6%
70.0%
70.5%
69.9%
70.3%
13
1.9
14
0.2
14
6.7
15
5.3
15
8.2
16
5.3
16
7.4
17
5.2
17
3.7
18
2.2
18
5.3
19
6.2
19
6.9
20
4.6
21
1.2
22
3.1
21
6.4
22
7.6
23
7.6
24
6.6
24
9.1
25
3.8
26
2.5
27
6.1
31.8%
32.6%
32.5%
32.7%33.3%
33.3%
32.7%
33.8%33.3%
33.1% 33.1%
33.7%33.8%
34.6% 35.2%34.7%34.3%
36.4%
35.0%
36.1%
34.8%
20%
22%
24%
26%
28%
30%
32%
34%
36%
38%
0
50
100
150
200
250
300
1Q
20
14
2Q
20
14
3Q
20
14
4Q
20
14
1Q
20
15
2Q
20
15
3Q
20
15
4Q
20
15
1Q
20
16
2Q
20
16
3Q
20
16
4Q
20
16
1Q
20
17
2Q
20
17
3Q
20
17
4Q
20
17
1Q
20
18
2Q
20
18
3Q
20
18
4Q
20
18
1Q
20
19
2Q
20
19
3Q
20
19
4Q
20
19
Retail to Total Loans
33
Micro is Key Growth Driver
Retail to Total Loans
Micro SME Consumer
Rp Tn
(Rp Tn)
SME
1
56.8 58.7
1.9
4Q18 Growth 4Q19
YoY3.4%
1
102.4 123.0
20.6
4Q18 Growth 4Q19
(Rp Tn)
Micro
YoY20.1%
(Rp Tn)
1
87.4 94.3
6.9
4Q18 Growth 4Q19
YoY7.9%
Consumer
34
Tactically Growing Micro Banking..
Quarterly Micro Loan Balances by Type Micro Loan Growth by Type
Loan Type% to Total
Micro Loan
YoYGrowth
Government Program (KUR)
26.0% 45.5%
Salary-Based Loan (KSM)
62.0% 17.5%
Productive Loan (KUM)
12.0% -5.1%
Total Micro Loan 100.0% 20.1%
Rp Tn
20.0 22.5 18.5 17.3 15.5 14.7
25.530.6 36.4
49.3
64.976.2
1.0
3.5
12.7
16.6
22.0
32.0
46.5
56.6
67.6
83.2
102.4
123.0
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
20
14
20
15
20
16
20
17
20
18
20
19
Gov't Program (KUR)
Salary-Based Loan (KSM)
Micro Productive Loan (KUM)
Total Micro
35
Quarterly Consumer Lending Balances by Type Consumer Lending Growth by TypeRp Tn
…as well as Consumer Lending, which Rose 7.9% Y-o-Y
*) If we include auto loan joint financing from Sharia, the total loan in 4Q18 vs 4Q19 would be Rp 33.2Tn vs Rp37.5 Tn (+13.1% YoY)
29.8 30.6 35.9 40.0 43.1 44.3
8.3 9.0
9.1
10.3
11.513.8
14.0 17.6
21.1
26.8
31.6
34.6
0.8
1.0
1.2
1.2
1.2
1.6
52.8
58.1
67.3
78.3
87.4
94.3
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
201
4
201
5
201
6
201
7
201
8
201
9
OthersAuto LoansCredit CardsMortgages Loan Type
% to Total Consumer
Loans
YoYGrowth
Others 1.7% 31.8%
Auto Loans* 36.7% 9.6%
Credit Cards 14.7% 20.1%
Mortgages 46.9% 2.8%
Total Consumer 100.0% 7.9%
36
Strong Growth in E-Channel Transaction
Mandiri Online provides better dashboard with more than 1,000 choices of payment services
1,882 3,233
FY2018 FY2019
180 395
FY2018 FY2019
119%
371 749
FY2018 FY2019
273 680
FY2018 FY2019
149%
72%
# of Active Users (‘000)
# of Transactions (Mn)Transaction Value (Rp Tn)
102%
Fee Income (Rp Bn)
* incl. Mandiri Online Mobile App** incl. Mandiri Online Web
237
253
238
248
271
294
294
303
289
312 314 311
288
303
289
307
24 27 25 25 24 27 26 28 27 29 29 29 28
32 31 32
55
69 68
84 8593 96
108119
132
149
172175
202
218
245
36 37 35 40 37 35 35 35 32 34 32 35
2423 22 17
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
340
360
380
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
ATMEDCMobile Banking*Internet Banking**
Quarterly Transaction Value (Rp Tn)
37
Gross NPLs 2.3%, Coverage at 144%, Special Mention Loans at 4.6%
NPL Movement - Consolidated
2.2
%
2.6
%
4.0
%
3.5
%
2.8
%
2.7
%
2.6
%
2.5
%
2.3
%
157%
146%
124%
135%143% 146% 147%
152%144%
4Q
14
4Q
15
4Q
16
4Q
17
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
Gross NPL Ratio NPL Coverage Ratio
Special Mention Loans – Consolidated
9.5
14.3 12.3
15.7 19.1
21.9 22.4 23.2
27.8
13.4
12.8 13.5
14.0
13.7
15.6 16.4 16.1
13.7
4Q
14
4Q
15
4Q
16
4Q
17
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
Wholesale (Rp Tn) Retail (Rp Tn)
2.8%
3.7%
2.9%3.5%
3.8%
5.2% 4.9%5.0% 5.2%
6.5%
5.5%5.2%
4.8% 4.8%
4.6%
4.8%
4.2%3.7%
4.3%
4.8%
4.1% 4.1%4.0%
4.7%
4.6%4.7% 4.6%
% Wholesale SML % Retail SML SML / Total Loans
NPLs 4Q∆ NPLs(Rp tn) (Rp tn) (%)
Corporate 0.18 -0.08 0.05%Commercial
Commercial-SBU 0.15 0.02 0.12%
Special Asset Management - Comm 14.50 0.18 47.03%
Small 0.94 -0.16 1.60%Micro 1.02 0.02 0.83%Consumer 2.05 -0.12 2.17%
Total 18.84 (0.14) 2.37%
490
3,224
2,139
83
425
408
40
661
467
134
226
422
UG to PL DG to NPL W/O
Corporate Commercial SME Micro Cons
Non-Performing Loans by Segment
Movement by Customer Segment (Rp Bn)Non-Performing Loan Movements (Rp Tn) – Bank-Only
* Excluding loans to other banks
Q4 2019 Total NPLs of Rp 18.8 Tn
18.97
0.75 4.54
0.64
3.44
0.15 18.84
3Q' 2019 UG to PL DG to NPL Payment Write-Offs Other 4Q' 2019
38
4,536
3,436
748
*
39
Historical Cost of Credit By Segment
2016 2017 2018 2019 2016 2017 2018 2019
Corporate 34.9 36.4 40.7 40.2 2.7 -0.7 -0.8 0.2
Commercial 24.9 21.4 17.0 16.7 6.3 4.5 4.7 2.5
SME 9.2 8.4 6.9 6.5 4.4 5.1 4.3 3.2
Micro 10.3 11.4 12.5 13.6 3.7 2.6 2.3 1.7
Consumer 10.2 10.7 10.7 10.4 2.7 3.4 2.5 2.1
Total Bank Only 89.5 88.3 87.7 87.3 4.0 2.1 1.7 1.3
Bank Syariah Mandiri 8.4 8.3 8.3 8.3 2.2 3.2 2.6 2.0
Mandiri Taspen 0.7 1.4 1.9 2.2 0.2 0.6 0.7 0.5
Mandiri Tunas Finance *) 1.6 1.9 2.0 1.9 4.4 3.6 2.6 2.6
Mandiri Utama Finance *) 0.3 0.5 0.5 0.5 3.7 9.1 7.8 3.8
Total Consolidated 3.9 2.3 1.8 1.4
131.3 143.0 146.9 147.7
124.5 135.1 142.8 144.3
YTD Cost of Credit (%) SBU
Loan Portfolio Mix (%)
NPL Coverage – Bank-only (%)
NPL Coverage – Consolidated (%)
*) Non-Joint Finance only
6.0
8.8
13
.0
13
.8
13
.5
13
.8
16
.8
20
.5
21
.3
22
.6
22
.1
23
.0
20
.5
20
.8
21
.3
20
.6
17
.3
19
.5
25
.5
18
.7
6.5
9.4
8.8
10
.0
9.7
11
.2
13
.2
11
.1
10
.0
11
.0
13
.0
14
.7
15
.5
16
.2
15
.6
17
.7
20
.5
21
.8
21
.4 2
7.3
1.9
2.7
4.7
3.9
0
5.0
8.9
9.3
15
.5
16
.0
15
.1
14
.8
14
.5
13
.6
13
.7
13
.5
13
.0
12
.9
12
.2
13
.1
11
.5
14.4
20.9
26.4 27.7 28.3
34.1
39.3
47.2 47.3
48.8 49.9 52.1
49.6 50.6 50.5 51.3 50.7
53.5
60.1
57.6
5.0
15.0
25.0
35.0
45.0
55.0
65.0
1Q
'15
2Q
'15
3Q
'15
4Q
'15
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Non-Performing Special Mention Current
3.0%
4.2%5.3% 5.4%
5.5%6.2%7.0%
8.0%8.1%8.1%8.2%8.1%
8.1%7.5%
7.4%7.1%7.4%7.4%8.3%
7.3%
Restru to Total Loan
40
Restructured Loans
Restructured Loans at Rp 57.6 Trillion
New Restructured NPL Divided By Restructured Loan in Previous Quarter*
0.2%
5.5%5.7%
1.6%
3.4%
11.7%
2.3%
13.9%
4.4%
3.6%
1.1%
3.2% 3.1%
1.2%
0.6% 0.8%
1.9%
0.3%
1.3%
2.2%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
1Q
152
Q15
3Q
154
Q15
1Q
162
Q16
3Q
164
Q16
1Q
172
Q17
3Q
174
Q17
1Q
182
Q18
3Q
184
Q18
1Q
192
Q19
3Q
194
Q19
*excl. Credit CardsBank-only numbers
41
Improvement in Asset Quality
Write Off & Recovery % Loan at Risk to Total Loan
11,409 11,586 13,230
10,841
3,287 3,854 5,124 4,819
28.8%
33.3%38.7%
44.5%
0.0 %
5.0 %
10. 0%
15. 0%
20. 0%
25. 0%
30. 0%
35. 0%
40. 0%
45. 0%
50. 0%
(3 ,000)
2,00 0
7,00 0
12,0 00
17,0 00
22,0 00
2016 2017 2018 2019
Write Off Recovery Recovery Rate
Recovery By Segment (Rp Bn) NPL Formation By Segment
Bank-only numbers
YearRecovery
Wholesale SME Micro Cons Bankwide
2016 1,372 923 416 577 3,287
2017 1,768 895 699 492 3,854
2018 2,391 1,253 864 615 5,124
2019 1,693 1,310 1,096 720 4,819
YearNet Downgrade to NPL (%)
Corp Comm SME Micro Cons Bankwide
2016 0.44 8.91 4.74 3.84 3.56 4.28
2017 0.08 3.72 5.67 2.67 4.08 2.13
2018 - 3.96 4.34 2.42 2.37 1.96
2019 0.07 3.94 3.43 2.44 2.44 1.84
Year% Loan at Risk to Total Loan (%)
Restructured Cat.1 Cat.2 NPL Bankwide
2016 3.5% 3.5% 4.0% 11.0%
2017 3.6% 3.9% 3.5% 10.9%
2018 2.9% 4.0% 2.8% 9.7%
2019 2.4% 4.9% 2.4% 9.6%
42
Enhancing Synergies & Value from Subsidiaries
Total Assets
Rp 112.3 Tn
Bond Trading Volume
Rp 122.2Tn
Total Assets
Rp 32.4Tn
Total Loans
Rp20.3Tn
Total Disbursement
Rp 28.8 Tn
Total Financing
Rp75.5 Tn
Equity & FI Underwriting
Rp 50.6 Tn
Total Premium Income
Rp 2.8Tn
Net Interest Margin
6.0%
Net Interest Margin
2.6%
Total Deposits
Rp 99.8Tn
Equity Trading Volume
Rp 334.9 Tn
ROA
3.2%
ROA
2.6%
ROA
2.7%
ROE
15.7%
ROE*
10.7%
ROE
40.6%
ROE
18.8%
ROE
19.5%
• 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
*)ROE Stand Alone
CORPORATESOCIAL RESPONSIBILITY
SUSTAINABLE OPERATION
Bank Mandiri’s Sustainability Framework
Working Culture Transformation Plan• Empowering our human capital• Digital Transformation• Green Office
Proactive Strategy on Information
SUSTAINABLE BANKING1
2
3
Banking Activities• Managing ESG risks in relation to banking activities to enhance resilience of our
corporate and retail portfolios in the long term• Aiming to be Indonesia's sustainable bank• Implementing ESG gradually on 4 priority industry sectors within the next 5 years
Corporate Social Responsibility• Community Empowerment, such as through Entrepreneurship Training for
Indonesia Migrant Worker and Mandiri Young EntrepreneursFinancial Inclusion• Financing SMEs and Micro Businesses, channeling Government Subsidized Loan,
and developing Branchless Banking
BBBMSCI ESG Rating44
2019 2020 2021 2022 2023 2024 2025 2026
ESG Policies
Palm Oil
Construction
Energy & Water
FMCG
Four Priority Sectors
Gradual Implementation of Sustainable Banking
• Developing ESG policy which governs the screening, due diligence, approval and monitoring
• Currently 60% of palm oil borrowers are already ISPO/RSPO certified, and the remaining are in the process of registering.
• Helping small palm oil players to learn and implement best practice from the bigger player
• Proactive workshops and FGDs with industry players and NGOs
Example of Progress of Palm Oil Policies
45
Proactive Strategy on Information
Protection
EndpointSecurity
ApplicationSecurity
NetworkSecurity
IT InfrastructureSecurity
DataSecurity
GovernanceSecurity
Architecture
Security Policy
Enhancement
Security Organization
Security Risk Mgt and Reporting
Training and certified CISO Officers - Comptia Secruity+- ISO27001- CISM- CCISO
Operations
Detection Response Recovery
46
46
Bank Mandiri’s 2020 Corporate Guidance
2019 Guidance
2019 Realization
2020Target
Gross Loan (Ending Balance) Growth (YoY) 8%-10% 10.7% -
Gross Loan (Avg. Balance) Growth (YoY)
- 10.0% 8%-10%
Net Interest Margins 5.6% - 5.8% 5.56% 5.4% - 5.6%
Gross NPLs 2.5% - 2.7% 2.33% 2.1%-2.3%
Cost of Credit 1.5% - 1.7% 1.40% 1.2%-1.4%
Efficiency Ratio <45.0% 45.7% <45.0%
47
Operating Performance Highlights
48
Large Corporate, Government & Institutions
Performance to Date: FY2019 (Rp Bn) Strategies for 2019
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
4,824
5,155
2,649 1,417
11,211 1,218
9,993
49
Treasury & Market
1. Implement client segmentation strategy for Treasury anchor and non-anchor clients.
2. Increase retail coverage of fixed income and structured products.
3. Implement FI client coverage model and segmentation strategy.
4. Revitalize overseas offices’ function as a distribution channel, and introduce new business models.
5. Enhance retail brokerage program in Mandiri Sekuritas.
Performance to Date: FY 2019 (Rp Bn) Strategies for 2019
4,907
6,374 533
10,747 10,745
Commercial Banking
50
1.Tighten risk management practices by centralizing big ticket loan approval from regional office to head office
2.Focusing on clients within the value chain / business ecosystem of our large corporate banking clients
3.Selectively growing the business to sectors and regions as stipulated in bank-wide portfolio guidance
Performance to Date: FY2019 (Rp Bn) Strategies for 2019
2,102
2,481
804 503
4,883
3,740
1,143
51
Commercial Banking
* Business Savings Product
Expanding Scope of Distribution, 4Q 2019
SumateraLoans = Rp 10.5 tnFunds = Rp9,8 tn
KalimantanLoans = Rp 2.5 tn Funds = Rp 5.5 tn
EasternLoans = Rp 2.2 tnFunds = Rp 4.4tn
Java and BaliLoans = Rp 136,2tnFunds = Rp 56.0 tn
Solid & Stable Source of Low Cost Funds
Product4Q
2019
4Q
2018 Growth
Demand Deposit
41.90 33.26 25.97%
Rupiah 32.03 24.79 29.21%
FX 9.87 8.47 16.47%
Saving Deposit*
10.70 9.32 14.74%
Total CASA 52.60 42.59 23.51%
Total Funding 75.66 59.78 26.58%
Rp Tn
CASA Ratio = 69.51%Funding from Java & Bali = 74.05% of total funding
52
Micro & SME:Selectively growing our high margin business
Performance to Date: FY2019 (Rp Bn) Strategies for 2019
1. Specialized sales team in Productive Loan (KUM) & Government Program (KUR)
2. Improving incentive scheme based on product profitability and loan quality
3. KUM profiling4. Creating relationship model,
specifically on Salary-Based Loan (KSM) by approaching the management of the borrower’s company
5. Widening the penetration of KSM products by using the Bank@Work Project
6. Simplify the SME loan processing7. Adjust the manual of SME products
8,198
10,416
4,3003,754
19,1613,753
15,408
53
Small Medium Enterprise :
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
Scope of Distribution, 3Q 2019Solid & Stable Source of
Low Cost Funds*Rp Tn
SumateraLoans = Rp 9.3 tn
Funds = Rp 21.2 tn
KalimantanLoans = Rp 3.6 tn Funds = Rp 8.7 tn Eastern
Loans = Rp 5.0 tnFunds = Rp 11.2 tn
Java and BaliLoans = Rp 35.2 tn
Funds = Rp 135,7 tn
Branch Class that covered SME Customers
A.1 : 37 B.2 : 61
A.2 : 48 B.3 : 45
B.1 : 94 B.4 : 10
Product4Q
2018
4Q
2019
GrowthYoY
Demand Deposit
49.8 57.6 15.6%
Saving Deposit
83.9 90.0 7.3%
Total CASA 133.7 147.6 10.4%
Total Funding
158.8 176.8 11.3%
CASA Ratio = 83.5%Funding from Java & Bali = 76.7% of total funding
54
Consumer Banking:Significant growth in spread and fee income
Mortgage:1. Still using Risk-Based Pricing relative to the
market2. Automation in notifying loan agreement to
the borrowers3. Managing the onboarding borrowers by the
branches4. Sharpening sales model in order to
managing both primary and secondary market
Auto:1. Marketing program with appointed RAC2. Using disbursement of Auto Loan as an
element of KPI, separated for Region/Area/Branch Offices’
3. Campaigning the use of Mandiri Mobile Apps to increase the branch’s referrals
4. Piloting e-Marketplace (the digital platform for Auto Loan marketing)
Performance to Date: FY 2019 (Rp Bn) Strategies for 2019
2,194 32
2,459
976
3,709
1,913
1,796
55
Bank Syariah Mandiri Financial Highlight
Financial Performance (Rp bn)
Syariah Financing (Rp tn)
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
%6
.4%
6.5
%7
.2%
6.7
%6
.7%
7.1
%7
.4%
7.3
%6
.4%
6.4
%6
.5%
6.6
%6
.5%
6.5
%6
.5%
6.4
%
20
07
20
08
20
09
20
10
20
11
1Q
'12
1H
12
9M
12
FY12
1Q
'13
1H
13
9M
13
FY13
1Q
14
1H
14
9M
14
FY14
1Q
15
1H
15
9M
15
FY15
1Q
16
1H
16
9M
16
FY16
1Q
'17
1H
17
9M
17
FY17
1Q
18
1H
18
9M
18
FY18
1Q
19
1H
19
9M
19
FY19
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
%1
1.1
%1
1.0
%1
0.9
%1
0.6
% 10
.0%
10
.6%
10
.9%
10
.8%
10
.9%
11
.1%
11
.1%
11
.4%
11
.4%
11
.5%
11
.0%
10
.9%
11
.0%
10
.9%
11
.0%
10
.9%
10
.9%
10
.8%
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% 3.8
%3
.7%
3.7
%3
.6%
3.5
%3
.5%
3.6
%3
.4%
3.3
%3
.3%
3.3
%3
.4%
3.4
%3
.5%
3.4
%
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
50
.74
52
.71
53
.24
55
.58
55
.42
58
.06
58
.72
60
.69
61
.22
62
.37
65
.24
67
.75
69
.36
71
.47
73
.82
75
.54
20
072
008
20
092
010
20
111
Q12
1H
12
9M
12
FY12
1Q
131
H1
39
M1
3FY1
31
Q14
1H
14
9M
14
FY14
1Q
151
H1
59
M1
5FY1
51
Q16
1H
16
9M
16
FY16
1Q
'17
1H
17
9M
17
FY17
1Q
181
H1
89
M1
8FY1
81
Q19
1H
19
9M
19
FY19
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%
80
.1%
82
.6%
80
.4%
79
.2%
79
.5%
81
.9%
80
.2%
79
.4%
73
.9%
75
.5%
79
.1%
79
.0%
81
.0%
81
.6%
81
.4%
75
.6%
FDR
FY’12 FY’13 FY’14 FY’15 FY’16 FY’17 FY’18 FY'19
Financing44,755 50,460 49,133 51,090 55,580 60,695 67,753 75,543
Deposits47,409 56,461 59,821 62,113 69,950 77,903 87,472 99,810
Assets54,229 63,965 66,942 70,369 78,832 87,940 98,341 112,298
EAT805.7 651.2 71.8 289.6 325.4 365.2 605.2 1,276
Ratios:
ROA (%)2.3 1.5 0.2 0.6 0.6 0.6 0.9 1.7
ROE (%)25.1 15.3 1.5 5.9 5.8 5.7 8.2 15.7
Gross NPF2.80% 4.30% 6.80% 6.10% 4.90% 4.50% 3.30% 2.40%
56
Mandiri Taspen Financial Highlight
Total Financing (Rp bn)
Financial Performance (Rp bn) Net Interest Margin & Cost of Funds
YoA
CoF
NIM
78
4
82
5
87
2
92
0
96
2
1,0
58
1,2
48
1,5
85
2,0
49
2,7
48
3,5
66
4,9
29
6,1
87
7,5
40
9,1
53
10
,50
7
11
,94
2
12
,95
5
14
,31
2
15
,52
6
16
,77
1
17
,82
1
19
,12
4
20
,31
6
1Q
14
1H
14
9M
14
FY14
1Q
15
1H
15
9M
15
FY15
1Q
16
1H
16
9M
16
FY16
1Q
'17
1H
17
9M
17
FY17
1Q
18
1H
18
9M
18
FY18
1Q
19
1H
19
9M
19
FY19
Financing
91
.8%
90
.7%
87
.5%
87
.5%
88
.4%
81
.7%
89
.7%
86
.5%
81
.1%
81
.7%
85
.3%
87
.2%
88
.5%
94
.4%
85
.4%
89
.6%
93
.6%
93
.1%
94
.4%
91
.7%
96
.1%
88
.0%
93
.5%
92
.8%
LDR
11
.2%
11
.3%
11
.2%
11
.1%
10
.6%
10
.4%
10
.1%
11
.1%
8.0
%8
.0%
8.1
%9
.5%
6.6
%6
.7%
6.5
%6
.6%
6.8
%6
.9%
7.0
%6
.9%
6.2
%5
.9%
5.9
%6
.0%
1Q
14
1H
14
9M
14
FY14
1Q
15
1H
15
9M
15
FY15
1Q
16
1H
16
9M
16
FY16
1Q
'17
1H
17
9M
17
FY17
1Q
18
1H
18
9M
18
FY18
1Q
19
1H
19
9M
19
FY19
20
.3%
20
.3%
20
.3%
20
.2%
19
.9%
19
.7%
19
.4%
20
.2% 1
7.8
%
17
.6%
17
.3%
19
.0%
16
.3%
16
.1%
15
.8%
15
.1%
14
.7%
14
.6%
14
.5%
14
.4%
14
.1%
14
.0%
14
.0%
14
.1%
6.9
%
7.0
%
7.0
%
7.1
%
7.5
%
7.4
%
7.4
%
7.1
%
7.2
%
7.3
%
7.3
%
7.4
%
7.5
%
7.5
%
7.4
%
7.2
%
6.7
%
6.6
%
6.5
%
6.6
%
7.2
%
7.1
%
7.3
%7
.2%
FY’17 FY'18 FY'19 YoY Growth
Financing 10,050 15,526 20,316 31%
Deposits 9,732 15,260 19,864 30%
Assets 13,687 20,944 26,948 29%
EAT 160 333.5 444.5 33%
Ratios:
ROA (%) 2.0 2.6 2.6 0.0ppt
ROE (%) 13.4 20.5 18.8 (1.7ppt)
Gross NPL 0.70% 0.60% 0.70% 0.1ppt
57
Mandiri Tunas Finance Financial Highlight
Total Disbursement and the Breakdown for Joint Financing and Non JF Breakdown of Financing FY 2019 Performance
1,5
06
1,1
99
1,4
09
1,6
00
1,4
54
1,9
09
1,0
20
2,2
17
1,8
58
1,9
08
1,2
61
2,6
50
1,8
49
2,6
34
2,1
67
2,4
27
2,6
06
3,4
24
3,3
32
3,4
77
4,8
91
4,3
77
4,3
10
4,4
03
2,0
56
2,4
08
2,2
06
2,3
91
2,2
36
1,9
36
3,0
94
2,9
75
3,0
12
2,9
09
2,4
14
2,6
18 2
,72
32
,54
83
,65
04
,20
54
,09
83
,28
04
,73
82
,03
62
,08
22
,19
22
,93
73
,58
8
Q1'1
4Q
2'14
Q3'1
4Q
4'14
Q1'1
5Q
2'15
Q3'1
5Q
4'15
Q1'1
6Q
2'16
Q3'1
6Q
4'16
Q1'1
7Q
2'17
Q3'1
7Q
4'17
Q1'1
8Q
2'18
Q3'1
8Q
4'18
Q1'1
9Q
2'19
Q3'1
9Q
4'19
JF
Non JF
3,2
90
3,3
74
3,3
98
3,8
24
3,5
49
3,7
32
3,9
75
5,0
62
4,7
61
4,7
27
3,6
36
5,2
16
4,4
67
5,0
77
5,6
86
6,4
63
6,3
80
6,5
73
6,3
99
6,6
49
6,6
32
6,2
30
6,9
02
7,6
48
20
81
62
14
91
08
96
71
82
73
67 7
03
64
39
99
91
20
16
12
11
22
2 24
82
64
32
83
29
32
9
64 70 68 60
45 41
57
56
41 19
5
8
6
6
11
8 8 14 12
12 13
11
17
Q1
'14
Q2
'14
Q3
'14
Q4
'14
Q1
'15
Q2
'15
Q3
'15
Q4
'15
Q1
'16
Q2
'16
Q3
'16
Q4
'16
Q1
'17
Q2
'17
Q3
'17
Q4
'17
Q1
'18
Q2
'18
Q3
'18
Q4
'18
Q1
'19
Q2
'19
Q3
'19
Q4
'19
MotorcycleUsed CarNew Car
FY 2018 FY 2019 Change
Loans (Rp Bn) 43,490 46,843 8%
Net Income (Rp Bn) 403.3 446.9 10.8%
Disbursement (Rp Bn) 26,991 28,780 7%
NIM (%) 2.7 2.6 -0.1ppt
ROA (%) 3.3 2.7 -0.6ppt
ROE (%) 20.7 19.5 -1.2ppt
CER (%) 48.3 47.6 -0.7ppt
NPL (%) 0.8 0.8 0ppt
58
Supporting Materials
2016-2020 Bank Mandiri Corporate Plan – Accelerate In The Growth Segments
Loan Growth Engine
Mortgage
Auto Loan
1
2
Funding Engine
Dominate payroll segment using Bank@Work for corporate and commercial customers
Improve transaction banking offering to tap cash management for anchor clients’ value chain
1
2
Product Focus
1. Improve processing speed
2. Tapping higher ticket size
3. Target developer relationships
Key initiatives
1. Streamline segment split between MTF and MUF
2. Utilize existing Mandiri branch network for growth
Personal Loan & Micro KSM31. Combine consumer personal loans and micro
salary-based loans
2. Leverage on micro’s distribution footprint
3. Tap into our payroll customer base
59
60
Cash Management• 31,570 Customers • 291 Mn Trx in
4Q19 (2)
Bank Mandiri Remains on Track to Become Indonesia’s Most Admired Financial Institution
Retail Loans (1)
• Rp 276.0 Tn• 35.0% of Total Loans
Subsidiary Income• Total Rp 3.44Tn• Sum of income from 10 subsidiaries (12.5% of EAT)
e-Channel Tx• 2,655 Mn Trx YTD• -13.8% YoY Growth
# of Active Cards • Credit 1.9 Mn• Debit 14.4 Mn• Prepaid 6.6 Mn
(1) Small Business, Micro and Consumers(2) Excluding Mandiri Transaction System(3) Incl. Micro Branches, Unit, & Kiosk
# of Accounts• Deposit 25.7 Mn • Loan 2.4 Mnincluding mortgage accounts of 149,298
# of new Accounts (YTD)• Deposit 7.1 Mn• Loan 740 thousands
# of Outlets2,583 Branches1,730 Micro Outlets(3)
18,291 ATMs
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%
2020Indonesia’s Best
Asean Prominent Bank
Market Cap: IDR 251.4 Tn Revenue Market Share: 12.8%ROE: 21.0%Gross NPL: 2.15%
61
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
How We Plan To Achieve Our 2020 Target
Focus on Core Business▪ Grow large corporate lending above the market growth
rate and deepen relationships with existing clients▪ Increase fee based income & wholesale current accounts
Expanding into Underpenerated Low-Risk Segments
▪ Accelerate consumer lending growth: mortgages, auto loan and salary based loans
▪ Push retail CASA growth through Bank@Work▪ Defend market share in SME
Strengthen The Foundation
▪ Lower cost to income ratio through digitalization and productivity enhancements
▪ Reduce NPL ratio by improving the loan underwriting process
▪ Increase utilization and sophistication of data analytics to enhance insights and cross-selling.
Strategic Initiatives Description
62
…But We Need to Consider Growing Beyond the Bank
• Revenue YTD (Bank Only): Rp73.42Tn (2.1% YoY)
• Profit from Subsidiaries: Rp3,442Bn (12.5% of EAT)
• FY19 Revenue Wholesale vsRetail : Rp 27.3Tn vs Rp27.6Tn
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). Total Premium Income Rp2.82tn.
• JV with Tunas Ridean (MTF). Outstanding Financing Rp46.84tn.
• InHealth partner BPJS
63
64
FY 2019 PPOP increase by 1% YoY
FY 2019FY 2018
Increase0.9%
Rp Bn Rp Bn
57,330
28,44237,682
48,090
Net Interest &Premium Income
Fee-Based Income Overhead Expenses& Others
Pre-provisionOperating Profit
61,248
27,352
40,077
48,523
Net Interest &Premium Income
Fee-Based Income Overhead Expenses& Others
Pre-provisionOperating Profit
65
Digital Banking Roadmap
Two-prong approach to its digital transformation journey: Digitizing Internal Process and Customer Experience
Digitize existing process to reduce human interaction
i.e. BPR in credit card, personal loan
Optimize database usage for business judgement i.e. big data
• Digital Sales, Onboarding & Servicing via Mandiri Online
• Partnering with ecommerce
Backed with data analytics and pricing engine to push customized offering
Channel integration and cross-channel data stores
Business Process Digitization
Data Driven Decision Making
Customer Touch Point Digitization
Digital Marketing
Omni Channel Enablement
Internal
Process
Customer
Experience
1
3
2
4
5
IT & Digital Banking Transformation
66
Security
Policies & Compliance
Security Services
Security Operations
Availability & Reliability
Capabilities IT Operating Model
People
Process
Governance
- Recruitment- Talent Development
- Sourcing & Vendor Mgmt- IT Governance Forums
- Project Management- Quality Management- Enterprise Architecture
Backend - Core Banking Capacity
Middleware- SOA Capacity
Frontend- Mandol Stability- MCM Stability
Infrastructure- Network Stability- IT Operations Monitoring
Run the Bank Change the Bank Transform IT
Digital Propositions
Bank@Work
BPR
Cash Management
Analytics & CRM
SME Credit
Infrastructure
Data Centre
Endpoints Management
Network Re-architecture
Middleware – SOA Redesign
Security
67
…and Offer Innovative Payment Solutions
#Pre-Paid Card (000s)Pre-Paid Transaction Volume (000s)*
*volume for quarter
Pre-Paid Transaction Value (Rp Mn)*
*volume for quarter
359 5067752,118
4,015
3,9884,833
4,9265,275
6,1597,89113,662
16,802
18,012
22,06524,163
27,455
36,01835,923
35,528
43,198
91,429
104,777
97,418
99,188
99,201101,068
104,015
111,611
107,338
3,9665,908
8,146
11,680
18,35620,211
22,112
21,752
22,74121,15620,679
19,46020,54220,502
23,86424,644
27,26029,11030,05830,698
33,826
39,691
36,457
31,489
40,411
96,430
110,241
97,581
90,996
84,892
79,563
75,12074,067
65,991
12 149 175161
139136131321
467
484455
447427427
426
381296328401
406325
2883642892342251511,502
2,231 4,346
6,421 8,332
14,874 18,261
20,981
22,777
24,508
27,205 30,466
36,704
44,169
41,450
38,259
45,326
79,219
92,765
86,773
87,015
90,011 91,004
96,615
109,618 108,750
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
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Indomaret
e-Toll
Gaz
e-Money
314179
131
200189 205206196223
205
359362
270
360
425
343
579616
767
477
849
1,273
1,076
1,204
1,259
1,429
1,633
1,7251,743
20 304253
9591
135132138139135130136143167173178
208231241
278
323289
270
359
674
1,209
1,338
1,034
1,018
1,0221,0311,015
923
1 11 2 2
11 2 3
4
4 5
5
444
5 4 3
3
5 3 3 3 3 3 2 2
0 0 0 0 0 0 0 9 1530 415087
107126137
160182
207
262
315 296290
366
542
942
905
936
1,0291,141
1,318
1,439
1,515
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
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Indomaret
e-Toll
Gaz
e-Money
204
368
506
693920
1,0981,226
1,3121,4091,5641,633
1,7221,8671,960
2,0122,1102,202
2,3382,489
2,6342,776
2,850
2,982
3,548
4,235
4,370
4,5844,812
4,8804,910
4,961
4,9854,986
517627688
773846
9811,093
1,4121,487
1,5641,663
1,7521,8291,899
1,9762,112
2,249
2,478
2,693
2,892
3,0803,255
3,428
3,650
3,879
4,166
4,580
5,234
5,497
5,830
6,237
6,667
6,966
7,157
7,653
7,925
48
48 49 50
50
58
58
59
59
64
6484 84
84
84
85
85 85
85
85 85
85
85 86
86
8795
95
95959696
489120152
392
644
8901,0611,124
1,2401,382
1,559
1,785
1,9922,163
2,2702,375
2,607
3,315
3,751
4,052
4,4984,666
5,178
5,459
6,033
6,509
Mar-11
Jun
-11
Sep-1
1D
ec-11
Mar-12
Jun
-12
Sep-1
2D
ec-12
Mar-13
Jun
-13
Sep-1
3D
ec-13
Mar-14
Jun
-14
Sep-1
4D
ec-14
Mar-15
Jun
-15
Sep-1
5D
ec-15
Mar-16
Jun
-16
Sep-1
6D
ec-16
Mar-17
Jun
-17
Sep-1
7D
ec-17
Mar-18
Jun
-18
Sep-1
8D
ec-18
Mar-19
Jun
-19
Sep-1
9D
ec-19
e-Toll
Indomaret
Gaz
e-Money
68
Retail Payment System Gaining Traction
Volume Mandiri BusinessSaving Account (Rp Tn)
Fee Income from e-channel Tx (Rp Bn) Numbers of EDC
59.4
85.8
102.3
108.5
120.6
137.2
128.2
135.5
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
5.7%YoY
Growth
126.2 200.3 258.2
31
5.2
34
7.6
41
4.7
60
4.3
71
1.7
75
8.2
77
0.9
85
5.5
166.6 196.5 285.7
318.6 38
2.0
49
0.3
66
3.4
76
5.2
79
0.0
82
5.4
89
6.1
194.5249.3
313.9361.8
437.5
489.2
683.3
742.7843.4847.3
933.3
223.7
268.5
312.8
464.4
512.9
664.8
771.0
862.6
838.6932.2
1,012.5
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
Q4 Q3 Q2 Q18,6% YoY
Growth
33
,73
2
47
,12
7
92
,90
3
18
0,5
32
23
0,3
52
27
0,3
52
28
6,8
61
23
6,7
11
25
3,0
46
22
1,9
27
19
1,6
07
23
9,4
14
26
5,8
77
28
6,3
75
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
1Q
19
2Q
19
3Q
19
4Q
19
Strong Microfinance Growth
69
Customers (000)Network # Of New Customers
1,0
85
1,0
84
20
0
1,0
78
1,0
75
1,0
75
1,0
72
1,0
67
1,0
65
1,0
57
1,0
29
1,0
12
1,7
17
1,7
17
1,7
24
1,7
22
1,7
25
1,7
14
1,7
09
1,7
13
1,7
09
1,6
92
17
08
16
24
61
1
61
1
60
1
59
0
59
0
58
3 26
6
20
4
19
7
15
3
11
4 10
6
10 10 13 16 18 18
18 18 16 15 12
11
1Q
17
2Q
17
3Q
17
4Q
17
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
Branch Unit
27
1
43
0
1,2
42
1,2
69
1,2
49
1,5
56
1,5
74
1,5
83
1,5
93
1,6
01
1,6
40
1,6
71
1Q
17
2Q
17
3Q
17
4Q
17
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
11
6,4
40
10
5,9
64
12
9,4
84
20
0,9
77
19
3,0
66
20
0,5
35
21
9,9
38
20
6,9
10
18
8,9
29
26
0,0
74
20
5,6
62
21
0,4
07
1Q
1'7
2Q
'17
3Q
'17
4Q
'17
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
70
Competitive Microfinance
Outstanding – Rp Tn Booking Volume – Rp Bn
42.5 50.6 83.6 85.5 90.6 97.5 102.4 103.4 110.4 116.4 123.0
12.0%
11.9%
17.5%17.6%
18.0%18.8% 19.1% 18.8% 19.… 19.8%
20.8%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
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
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
20
15
20
16
201
7
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
Mandiri Microfinance Outstanding
Mandiri Market Share
6,3
37
12
,53
4
17
,62
3
14
,03
4
16
,31
8
20
,97
1
18
,44
8
16
,59
5
16
,62
6
19
,91
1
20
,91
9
201
5
201
6
20
17
1Q
`18
2Q
`18
3Q
`18
4Q
`18
1Q
`19
2Q
`19
3Q
`19
4Q
`19
Booking
10
.60
%
7.6
6% 6
.20
%
6.3
3%
6.2
5%
5.8
9%
5.5
8%
5.2
9%
5.1
2%
5.0
2%
4.9
7%
Loan Spreads(%)
Building a Strong Savings Deposit Franchise…
71
Regular Savings
Student Savings
Micro Savings
Gov’t Program
20
8.3
21
4.1
22
4.0
24
6.3
21
4.3
24
8.6
24
7.8
27
3.8
25
8.8
27
7.2
24
7.8
30
3.7
27
6.9
29
8.0
29
6.0
30
0.8
29
3.2
30
3.2
30
2.9
36.6%
36.0%
37.7%40.2%
36.3%
39.8%
39.9%39.8%
39.6%
40.7%
39.9%
41.6%40.9%
42.0%
40.2%40.7%
40.4%
41.0%
38.6%
17.3%
17.6%
18.0%
17.6%
16.2%
17.5%
17.3%
17.6%
17.4%
17.8%
15.7%
17.9%16.9%
17.4%
17.2%
16.5%
16.8%
16.6%
16.5%
1Q
'15
2Q
'15
3Q
'15
4Q
'15
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
Savings Deposits (Rp tn)
As % of Total Deposits
National Share of Savings Deposits (%)
Rp Billion
Our Growth Remains On Track
*) CAGR based on EAT 2006 Rp. 238.28 bn**) NPAT to common shareholders/average shareholder equity exclude Minority Interest
72
2005 2009CAGR2005-2009
2010 2014CAGR 2010-2014
2015 2016 2017 2018 2019YoY
Growth
CAGR 2015-2019
Assets 263,383 394,617 10.6% 449,775 855,040 17.4% 910,063 1,038,706 1,124,701 1,202,252 1,318,246 9.6% 9.7%
Loans 106,853 198,547 16.8% 246,201 529,973 21.1% 595,458 662,013 729,548 820,084 907,456 10.7% 11.1%
Deposits 206,290 319,550 11.6% 362,212 636,382 15.1% 676,387 762,501 815,807 840,914 933,124 11.0% 8.4%
Revenues 10,835 22,261 19.7% 28,504 56,501 18.7% 66,879 73,764 78,135 85,773 88,600 3.3% 7.3%
Adj. ROAE**) 2.51% 21.98% 54.4% 24.49% 21.73% (2.4%) 19.25% 10.95% 13.52% 14.86% 14.75% -0.7% -5.2%
Gross NPL Ratio 25.20% 2.79% (5.60%) 2.42% 2.15% (2.9%) 2.60% 4.00% 3.46% 2.75% 2.33% -15.3% -2.7%
Net NPL Ratio 15.34% 0.42% (3.73%) 0.62% 0.81% 6.9% 0.90% 1.53% 1.18% 0.73% 0.84% 15.1% -1.7%
LDR 51.72% 61.36% 2.41% 67.58% 82.86% 5.2% 87.68% 86.54% 89.25% 97.08% 96.50% -0.6% 2.4%
EAT 603 7,155 85.6% 9,218 19,872 21.2% 20,335 13,807 20,640 25,015 27,482 9.9% 7.8%
Subsidiary EAT N/A 434 22.2% *) 994 1,086 2.2% 2,085 2,288 2,236 2,491 3,442 38.2% 13.4%
73
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
Branch Networking by Zone
Bank Mandiri’s Capital Requirement Based on our Risk Profile Bank Mandiri Capital Requirment
Branch Sub Branch Cash Office Total
Zone 1 21 379 59 459
Zone 2 42 1,051 38 1,131
Zone 3 15 203 10 228
Zone 4 30 313 17 360
Zone 5 18 228 8 254
Zone 6 13 130 8 151
Total 139 2,304 140 2,583
74
2 Million Active Cards Drove Rp 13.0 Tn in Loan Outstanding
Mandiri Visa & Mastercards and EOQ Receivables
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
7,0
47
7,2
21
6,7
63
7,6
19
7,2
05
8,0
39
8,1
73
8,6
50
7,9
85
8,7
42
8,7
79
9,8
75
9,6
03
10
,17
11
0,1
74
11
,06
8
5453
53
5960
63666976
125
171302
303295
276291
278257
247
271298
278287
267
263
257283
295302
300339
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
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Cash Advance
Retail
Total Card Quarterly Sales by Type of Transaction (Rp Bn)
8,3
44
8,7
51
8,6
83
8,9
70
8,7
68
8,7
61
8,6
74
9,1
28
9,0
48
9,6
03
9,8
35
10
,31
2
10
,02
5
10
,51
1
10
,77
3
11
,53
4
11
,74
8
12
,44
7
12
,96
8
13
,84
8
1.7 1.8 1.8 1.8 1.8 1.8 1.9 1.9 1.9 1.9 1.9
1.9 1.8 1.8 1.8 1.8 1.9 1.9 1.9 1.9
1Q
'15
2Q
'15
3Q
'15
4Q
'15
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Outstanding (Rp tn)
# of Active Cards (Mn)
75
Key Quarterly Balance Sheet Items & Financial Ratios
* Bank Only
IDR billion / % (Cons) FY 2019 9M 2019 1H 2019 1Q 2019 FY 2018 YoY
Gross Loans 907,456 841,857 835,110 790,450 820,084 10.7%
Government Bonds 129,000 131,587 122,166 125,192 114,243 12.9%
Total Assets 1,318,246 1,275,670 1,235,627 1,205,972 1,202,252 9.6%
Customer Deposits 933,124 891,240 843,159 827,761 840,914 11.0%
Total Equity 209,034 200,828 189,688 193,665 184,961 13.0%
RoA – before tax (p.a.) 2.92% 2.87% 2.91% 3.14% 2.97% -1.6%
RoE – after tax (p.a.) 14.01% 14.01% 14.20% 15.18% 14.43% -2.9%
Cost to Income Ratio 45.68% 43.84% 43.80% 42.34% 44.41% 2.9%
NIM (p.a.) 5.56% 5.58% 5.58% 5.66% 5.66% -1.8%
LDR 96.50% 94.13% 98.82% 95.07% 97.08% -0.6%
Gross NPL / Total Loans 2.33% 2.53% 2.59% 2.68% 2.75% -15.2%
Provisions / NPLs 144.27% 152.23% 146.79% 145.56% 142.80% 1.0%
Tier 1 CAR * 20.29% 21.39% 21.00% 22.50% 19.84% 2.3%
Total CAR incl. Credit, Opr & Market Risk* 21.38% 22.50% 21.02% 22.47% 20.96% 2.0%
EPS (Rp) 589 434 290 155 536 9.9%
Book Value/Share (Rp) 4,480 4,304 4,065 4,151 3,964 13.0%
17
6.9
15
3.5
14
8.8
12
2.9
93
.1
92
.1
90
.6
89
.5
88
.3
89
.1
78
.1
78
.5
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
98
.1
99
.1
10
2.4
98
.9
10
2.5
98
.3
10
0.2
10
3.4
10
5.3
10
5.6
10
5.6
11
4.2
12
5.2
12
2.2
13
1.6
12
9.0
43
.0
48
.3
65
.4
65
.4
75
.9 10
6.9
11
7.7
13
8.5
17
4.5
19
8.5
24
6.2
31
4.4
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
57
4.7
61
0.9
62
5.1
66
2.0
65
6.2
68
2.0
68
6.2
72
9.5
70
3.0
76
2.5
78
1.1
82
0.1
79
0.5
83
5.1
84
1.9
90
7.5
27
.0 33
.46
0.5
36
.1
50
.6 64
.5
59
.2
91
.1
95
.7
10
6.9
12
5.5
15
9.1
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
23
4.0
26
1.5
24
7.6
27
7.8
27
5.6
28
7.0
29
2.3
29
1.7
28
9.8
28
7.4
28
6.9
26
7.9
29
0.3
27
8.4
30
2.2
28
1.8
0
100
200
300
400
500
600
700
800
900
1000
1100
1200
1300
1400
1500
4Q
'00
4Q
'01
4Q
'02
4Q
'03
4Q
'04
4Q
'05
4Q
'06
4Q
'07
4Q
'08
4Q
'09
4Q
'10
4Q
'11
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
1Q
'16
2Q
'16
3Q
'16
4Q
'16
1Q
'17
2Q
'17
3Q
'17
4Q
'17
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
Government Bonds Loans Other Assets
75.4%75.4%
74.1%
60.6%
11.2%
7.2%
6.0%
6.5%
7.3%
7.7%
8.5%
8.0%
7.1%
6.9% 7.7%
7.5%
7.4%
7.3%
7.6%
6.2%
6.6% 6.7% 6.5%
6.2%
6.4%
6.3%
6.2%
6.1%
6.3%7.3% 7.4%7.4% 7.6%
19.0%19.0%
34.1%
68.3%
76.5%
79.5%
87.9% 89.1%
88.6%84.6%
87.3%87.4%
85.5%
85.8%
86.1%
85.3%
88.7%86.3%
84.2%
85.8%
85.4% 84.2%
88.3%88.6% 88.8%
88.5%
87.6%87.4%
87.6%
87.4%
Int. from Bonds Int. from Loans
76
Total Assets Grew 9.6% Y-o-Y to Rp 1,318 TnTo
tal A
sset
s (R
pTn
)
Consolidated
77
Additional Factors
Aggregate of Rp 71.961 Tn (US$ 5.183 Bn) in written-off loans as of end-of December 2019, 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) 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)
Recoveries of Written off Loans
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) Q1’16 Rp 0.570 Tn (US$43.0m) Q2’16 Rp 0.645 Tn (US$48.9m) Q3’16 Rp 0.833 Tn (US$63.8m) Q4’16 Rp 1.145 Tn (US$85.0m) Q1’17 Rp 0.686 Tn (US$51.5m) Q2’17 Rp 0.886 Tn (US$66.5m) Q3’17 Rp 0.965 Tn (US$71.7m) Q4’17 Rp 1.199 Tn (US$88.4m) Q1’18 Rp 0.965 Tn (US$70.1m) Q2’18 Rp 1.010 Tn (US$70.5m) Q3’18 Rp 1.016 Tn (US$68.2m) Q4’18 Rp 2.079 Tn (US$144.5m) Q1’19 Rp 1.072 Tn (US$75.3m) Q2’19 Rp 0.846 Tn (US$59.9m) Q3’19 Rp 1.024 Tn (US$72.1m) Q4’19 Rp 1.586 Tn (US$144.2m)
* 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.
78
Summary Quarterly Balance Sheet 4Q 2019 – 4Q 2018
Summary BSQ4 ’19 Q3 ’19 Q2 ’19 Q1 ’19 Q4 ’18 Y-o-Y
Rp (tn) Rp (tn) Rp (tn) Rp (tn) Rp (tn) %
Total Assets 1,318.25 1,275.67 1,235.63 1,205.97 1,202.25 9.6%
Cash 28.09 23.04 24.65 21.66 27.35 2.7%
Current Acc w/ BI & other banks 59.05 67.73 61.87 76.34 74.69 -20.9%
Placement w/ BI & other banks 37.62 65.35 43.36 41.61 22.57 66.7%
Securities Net 61.53 63.77 71.90 68.15 63.84 -3.6%
Government Bonds 129.00 131.59 122.17 125.19 114.24 12.9%
- Trading 6.25 6.01 5.68 6.97 4.53 38.0%
- AFS 97.29 95.28 89.57 86.35 78.27 24.3%
- HTM 25.46 30.30 26.91 31.87 31.45 -19.0%
Loans 907.46 841.86 835.11 790.45 820.08 10.7%
- Performing Loans 886.41 820.57 813.48 769.27 797.53 11.1%
- Non-Performing Loans 21.04 21.29 21.63 21.18 22.55 -6.7%
Allowances - 30.35 - 32.39 - 31.73 - 30.80 -32.18 -5.7%
Loans – Net 877.11 809.47 803.38 738.47 787.91 11.3%
Total Deposits – Non Bank 933.12 891.24 843.16 827.76 840.91 11.0%
- Demand Deposits 250.41 223.69 200.14 185.14 200.51 24.9%
- Savings Deposits 359.16 343.82 342.61 331.34 338.6 6.1%
- Time Deposits 323.55 323.74 300.41 311.29 301.81 7.2%
Shareholders’ Equity* 209.03 200.83 189.69 193.67 184.96 13.0%
79
Summary Quarterly P&L 4Q 2019 – 4Q 2018
Summary P&L
4Q 2019 4Q 2018 Y-o-Y 3Q 2019 Q-o-Q
Rp (Bn) % of
Rp (Bn) % of
(%) Rp (Bn) % of
(%) Total Asset Total Asset Total Asset
Interest Income 23,755 7.2% 21,438 7.1% 10.8% 23,282 7.3% 2.0%
Interest Expense 8,255 2.5% 7,287 2.4% 13.3% 8,187 2.6% 0.8%
Net Interest Income 15,500 4.7% 14,151 4.7% 9.5% 15,095 4.7% 2.7%
Net Premium Income 423 0.1% 470 0.2% -10.0% 482 0.2% -12.2%
Net Interest Income & Premium Income 15,923 4.8% 14,621 4.9% 8.9% 15,577 4.9% 2.2%
Other Non Interest Income
*Other Fees and Commissions 4,487 1.4% 3,747 1.2% 19.7% 3,483 1.1% 28.8%
*Foreign Exchange Gains – Net 882 0.3% 785 0.3% 12.4% 966 0.3% -8.7%
*Gain from Incr. in value of sec & sale of Gov.Bonds 221 0.1% 138 0.0% 60.1% 332 0.1% -33.5%
*Others 2,121 0.6% 4,810 1.6% -55.9% 2,347 0.7% -9.6%
Total Non Interest Income 7,711 2.3% 9,689 3.2% -20.4% 7,128 2.2% 8.2%
Total Operating Income 23,634 7.2% 24,310 8.1% -2.8% 22,705 7.1% 4.1%
Provisions, Net - 1,798 -0.5% - 3,224 -1.1% -44.2% - 4,062 -1.3% -55.7%
Personnel Expense - 4,827 -1.5% - 4,543 -1.5% 6.3% - 4,165 -1.3% 15.9%
G&A Expenses - 5,229 -1.6% - 4,747 -1.6% 10.2% - 4,467 -1.4% 17.1%
Other Expenses - 1,818 -0.6% - 1,485 -0.5% 22.4% - 1,194 -0.4% 52.3%
Total Expense - 11,874 -3.6% - 13,999 -4.7% -15.2% - 9,826 -3.1% 20.8%
Profit from Operations 8,144 2.5% 10,311 3.4% -21.0% 8,817 2.8% -7.6%
Non Operating Income 49 0.0% 15 0.0% 217.7% - 12 0.0% -516.5%
Net Income Before Tax 8,193 2.5% 10,326 3.4% -20.7% 8,805 2.8% -6.9%
Net Income After Tax 7,232 2.2% 6,925 2.3% 4.4% 6,719 2.1% 7.6%
80
Breakdown of Interest Income & Interest Expense
4Q'19 4Q’18 YoY 3Q'19 QoQ
Rp (Bn) Rp (Bn) (%) Rp (Bn) (%)
Loans 17,937 16,445 9.1% 15,915 12.7%
Government bonds 1,934 1,478 30.9% 1,721 12.4%
Marketable Securities 751 412 82.4% 671 12.0%Consumer financing 955 858 11.4% 938 1.9%
Placement at BI and other banks 317 361 -12.3% 258 22.7%
Others 106 192 -44.9% 176 -39.9%
Syariah Income 1,755 1,692 3.7% 3,604 -51.3%Total 23,755 21,437 10.8% 23,282 2.0%
4Q'19 4Q’18 YoY 3Q'19 QoQ
Rp (Bn) Rp (Bn) (%) Rp (Bn) (%)
Time Deposits 4,472 4,199 6.5% 4,288 4.3%
Savings 1,001 1,011 -1.0% 1,001 0.0%
Current Account 1,461 835 75.0% 1,321 10.6%Borrowings 804 1,145 -29.8% 961 -16.3%
Securities issued 509 143 256.2% 610 -16.5%Subordinated loan - - 6 - - -
Others 8 - 39 -119.7% 6 28.3%
Total 8,225 7,287 13.3% 8,187 0.8%
Interest Income
Interest Expense
81
Government Bond Portfolio
Government Bond Portfolio by Type and Maturity (Rp 129,000 Bn)
4Q’19 Government Bond Gains/(Losses) (Rp Bn)
* Mark to Market impacts Profit# Mark to Market impacts Equity^ Nominal value
13.875.95
82.80
26.080
20
40
60
80
100
120
140
160
Trading* AFS# HTM^
Fixed Rate
Variable Rate
3Q’18 4Q’18 1Q’19 2Q’19 3Q’19 4Q’19
Realized Gains/Losseson Bonds
33.53 -26.49 144.85 96.55 264.41 58.91
Unrealized Gains/Losseson Bonds
-87.68 231.26 4.91 - - -
Total -54.15 204.77 149.76 96.55 264.41 58.91
Bonds by Rate Type & Portfolio as of December Rp 129,000 Bn)
Maturity/Rp Bn
Trading Portfolio Available for SaleHeld to
MaturityNominal MTM Nominal MTM
Fixed Rate Bonds
< 1 year 267 270 4,803 4,838 4,912
1 - 5 year 2,065 2,175 44,436 46,357 20,094
5 - 10 year 2,470 2,626 27,661 28,744 992
> 10 year 1,146 1,182 2,588 2,857 85
Sub Total 5,949 6,253 79,487 82,796 26,083
Variable Rate Bonds
< 1 year - - 13,922 13,868 -
1 - 5 year - - - - -
5 - 10 year - - - - -
> 10 year - - - - -
Sub Total - - 13,922 13,868 -
T o t a l 5,949 6,253 93,409 96,664 26,083
82
Ex-Recap Bond Portfolio Desember 2019 – Bank Only
SeriesInterest
Rate (%)
Marked To
Market (%)
- - - - - -
7 VR0027 25-Jul-18 - - -
8 VR0028 25-Aug-18 - - -
9 VR0029 25-Aug-19 - - - - - - -
10 VR0030 25-Dec-19 -
11 VR0031 25-Jul-20 5.80% 14,522,008 - 99.4930 - 14,448,381 -
- 14,522,008 - - 14,448,381 -
- 14,522,008 - - 14,448,381 -
0.00% 100.00% 0.00% 0.00% 100.00% 0.00%
14,522,008 14,448,381
Sub Total
No.Maturity
Date
Nominal Fair Value
Total Trading
Port.
Total Available
For Sale Port.
Total Held To
Maturity Portfolio
Total
Trading
Port.
Total Available
For Sale Port.
Total
Investment
Port.
Fixed Rate
Sub Total
Variable Rate
Total Fair Value
Grand Total
Total Nominal Value
83
Bank Mandiri Credit Ratings
Moody’s (April 2019) Fitch Rating (March 2019)
Outlook STABLE Outlook STABLE
LT Counterparty Risk Rating Baa2 International LT Rating BBB-
LT Debt (P)Baa2 International ST Rating F3
LT Deposit Baa2 National LT Rating AA+(idn)
National ST Rating F1+(idn)
Viability Rating bb+
Support Rating 2
Support Rating Floor BBB-
Pefindo (June 2018) Standard & Poor’s (May 2019)
Corporate Rating STABLE Outlook STABLE
LT General Obligation idAAA Issuer Credit Rating BBB-
84
Corporate Actions
DividendPayment & Stock Split
Net Profit for the financial year of 2018 of Rp25,015,020,898,824.50was distributed as follows:
• 45% for the annual dividend• Total Dividend Payment of Rp241.216272 per share
Schedule :a. Cum Date:
Regular and Negotiated Market: May 24, 2019Cash Market: May 28, 2019
b. Ex Date: Regular and Negotiated Market: May 27, 2019Cash Market: May 29, 2019
c. Recording Date: May 28, 2019d. Payment Date: June 19, 2019
85
4Q 2019 Movement in Category 1 and 2 Loans
Category 1 Loan Movements (Rp Bn) – Bank Only
67
3,7
15
11,0982,315
37
64
72,468
2,577
73
4,8
48
Beg. B
al.
D/G
to 2
U/G
from
2
D/G
to N
PL
U/G
from
NP
L
Ne
t Co
llect.
FX Im
pact
End
Bal.
Category 2 Loan Movements (Rp Bn) – Bank Only
35
,43
3
11,098
2,315
4,499684 1,651 87
38
,66
4
Beg. B
al.
Cat. 1
D/G
U/G
to 1
D/G
to N
PL
NP
L U/G
Ne
t Co
llect.
FX Im
pact
End
Bal.
86
4Q 2019 Loan Detail: Collectability by Segment
Loan Profile: 4Q Collectability (%) by Segment Bank Only Loan Profile: 4Q Collectability (Rp bn) by Segment Bank Only
97.2%
78.9%
95.4% 96.4%91.3%
2.7%
11.5%
3.0% 2.8%6.5%
1.6%
0.3% 0.3% 0.3%0.0%
6.5%
0.8% 0.2% 1.4%
Corp Comm SME Micro Cons
5
4
3
2
1
354,662
119,538
56,002
118,562
86,084
9,990
17,373
1,738
3,398
6,166
2,405
53
9,896
447
222
1,316
0
25,000
50,000
75,000
100,000
125,000
150,000
175,000
200,000
225,000
250,000
275,000
300,000
325,000
350,000
375,000
400,000
Corp Comm Small Micro Cons
87
4Q19 QoQ Net Downgrades of 0.46% On Loans
# % downgrades and upgrades are quarterly % figures
Total Loans
Net Upgrades(%)/Downgrades(%)# 4Q 2019 Details
Loan 4Q’19 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q DG to NPL
UG toPL
Background Balance 2017 2018 2018 2018 2018 2019 2019 2019 2019 % %
(Rp Tn)
Corporate364.83
0.02 - - - - - 0.02 0.03 1.59 1.92 0.32
Commercial 151.56 1.33 1.47 1 0.88 0.78 0.63 1.02 0.52 0.28 0.44 0.16
SME 58.68 1.55 1.53 1.41 0.93 0.77 0.91 0.93 0.74 0.00 0.00 0.00
Micro 122.98 0.6 0.67 0.7 0.54 0.43 0.49 0.57 0.5 0.51 0.54 0.03
Consumer 94.30 0.35 0.4 0.38 0.31 0.09 0.4 0.42 0.19 0.57 0.71 0.14
Total792.35
0.58 0.61 0.47 0.37 0.29 0.32 0.41 0.27 0.46 0.55 0.10
88
NPL Loan Detail*: Quarterly by Days Past Due
0%
10%
20%
30%
40%
50%
60%
70%
Current (%)<30 Days OD (%)
Quarterly D/G to NPL & Interest DPD - Bank Only
85
16
17
45
45
52
1,2
84
35
76
05
50
35
53
64
93
79
54
57
96
35
35
62
52
47
29
49
94
39
1,5
29
88
92
,29
12
,64
02
,04
53
,88
46
,55
41
,64
07
,74
42
,52
33
,49
41
,45
43
,57
53
,04
03
,02
82
,09
91
,95
31
,38
51
,98
21
,29
23
,32
0
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
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
Q1
'16
Q2
'16
Q3
'16
Q4
'16
Q1
'17
Q2
'17
Q3
'17
Q4
'17
Q1
'18
Q2
'18
Q3
'18
Q4
'18
Q1
'19
Q2
'19
Q3
'19
Q4
'19
Rp Bn Value
Quarterly NPL Stock & Interest DPD - Bank Only
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
2
4,8
63
5
,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
1
1,7
25
1
7,1
24
1
7,1
66
2
0,1
99
2
0,4
47
1
9,8
85
1
9,2
02
4
.49
6
17
,80
41
8,0
36
17
,76
2
17
,25
4
15
,54
7
15
,98
61
5,8
12
1
5,7
77
0
5,000
10,000
15,000
20,000
25,000
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
Q1
'16
Q2
'16
Q3
'16
Q4
'16
Q1
'17
Q2
'17
Q3
'17
Q4
'17
Q1
'18
Q2
'18
Q3
'18
Q4
'18
Q1
'19
Q2
'19
Q3
'19
Q4
'19
Rp Bn Value
* Excluding Micro & Consumer Loans
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%Current (%)
<30 Days OD (%)
89
13
,01
0
25
,54
8
31
,00
0
35
,84
6
42
,14
5
42
,97
9
42
,85
0
43
,90
6
46
,34
0
44
,54
2
46
,12
7
46
,27
7
47
,23
2
46
,61
5
50
,19
1
56
,87
0
54
,25
3
2015
Add
Deduct
Q1'16
Add
Deduct
Q2'16
Add
Deduct
Q3'16
Add
Deduct
Q4'16
Add
Deduct
Q1'17
Add
Deduct
Q2'17
Add
Deduct
Q3'17
Add
Deduct
Q4'17
Add
Deduct
Q1'18
Add
Deduct
Q2'18
Add
Deduct
Q3'18
Add
Deduct
Q4'18
Add
Deduct
Q1'19
Add
Deduct
Q2'19
Add
Deduct
Q3'19
Add
Deduct
Q4'19
Others#
Write-Offs
Repayments
Restructuring
Balance
Rp7,208bn in Loans were Restructured in 4Q ‘19
IDR bn
Others# includes partial payments, FX impacts, and fluctuation in Working Capital facilities
Loans by Restructuring Type in 4Q 2019
Maturity extension
; 96.9%Maturity extension w/reduced rates;
2.2%
Maturity extension w/other restr'g*;
0.9%
*Other Restructuring includes reduction of interest rates, rescheduling of unpaid interest & extension of repayment period for unpaid interest
Restructured Loan Movement 2015 - 4Q 2019
(Rp billions) Q2 ’18 Q3 ’18 Q4 ’18 Q1 ’19 Q2 ’19 Q3 ’19 Q4 ’19
Loans Restructured
2,862 1,251 5,118 1,328 7,286 7,208 5,579
NPLCollections
493 1,075 829 870 256 1,544 2,135
Risk Management Transformation
90
“Healthy Growth”
Front End Middle End Back End
Strengthen Portfolio Management
Sector Forum/Sector Expert/Advisory
Risk-Based Pricing
Develop Screening
Revamp Wholesale Credit Process
Data Analytics Framework
Enhance Watchlist
Mechanisms/ALERT
Early Restructured –
Wholesale Loans
Retail Collection
Alignment
Organization and People Development in Credit Process
Building A Risk Framework for Non Asset Products and IT
Goals
Business Phase
Strategic Initiatives
Enablers
Improving Asset Quality and Portfolio Management
Reorganize SAM Group
Transfering Problem Loans
Resetting Risk Assessment
Criteria
Increase Monitoring Frequency
Intensify Cash Recovery
Key Areas Remarks
• Restructuring Unit
• Recovery Unit
Focus on preventing increasing NPLs. To solve temporary problems in business’s and take the necessary steps for loan restructuring.
• Transfering Problem Loans
Transfering problem loans from business units toSAM group to be handled more effectively. Wewill continue to review for more loans totransfer.
• Update Risk Assessment Criteria
Help to reset risk assessment criteria to supportbusiness units in improving the loan originationprocess.
• Loan Monitoring
• Early Warning System
• Incentives for Loan Repayment
• Auction Frequency• Asset Marketing Unit
• Achieve higher cash recovery than last year• Accelerate loan repayment by writing off
interest and penalty• Identify targeted buyers for specific assets
Preventiative actions to improve asset quality byincreasing standardized process and upgradingrisk tools
91
92
Others19%
Consumption
FMCG
Palm Plantation & CPO
Infrastructure Construction
Financial Services
Energy & Water
Mortgage
Transportation
Telecommunication
Investment Property
Coal
Mining
Oil & Gas
Metal Manufacturing & Trading
Business Service
Others
Loan Portfolio Sector Analysis, 4Q 2019
93
4Q 2019 Loan Detail*: Downgrades to NPL
3
4
5
Current
<30 Days31-60 Days
61-90 Days
>90 Days
Mfg-Text
Comm
Trad-Ret
Mass Trans
Others
Trad-Distr
Rp
ConsumerExport
Invest
WC
Comm
SME
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int. Aging Sector Currency Purpose Segment
Loan Profile: Downgrades to NPL Only (Rp 3,320Bn) Bank OnlyThe downgrade to Non-Performing
Loan in 4Q2019 totaled Rp 3,320Bn. Of
these loans:
65.1% were more than 90 days overdue on interest payments
87.4% came from our Commercial Portfolio
Largest downgrades by sector:
Textile Manufacturing
Communication
Trading Distribution
93.4% were IDR loans
73.7% were Working Capital loans.
* Excluding Micro & Consumer
94
4Q 2019 Loan Detail*: Non-Performing Loans
3
4
5
Current
<30 Days31-60 Days61-90 Days
>90 Days
Mfg-Chem
Others
Mfg-F&B
Mfg-RawM
Constr
Mining-Oil & Gas
Trad-Distr
Other Trading
Bus Serv
Mfg-Text
Mass Trans
Trad-RetMfg-P&P
Rp
Fx
WC
Program
Syndication
Corp.
Comm.
SME
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int. Aging Sector Currency Purpose Segment
Loan Profile: Non-Performing Loans Only (Rp 15,777Bn) Bank Only
68.8% were more than 90 days overdue on interest payments
92.9% are to Commercial customers
71.8% are Working Capital loans and 23.7% are Investment loans
Primary sectors are: Chemical Manufacturing Textile Manufacturing Trading Distribution
91.1% are Rp loans
NPLs totaled Rp 15,777Bn.
Of these NPLs in 4Q 2019:
* Excluding Micro & Consumer
95
4Q 2019 Loan Detail*: Downgrades to Cat. 2
Comm
Corp
SME
<30 Days
1 Day
31-60 Days
61+ Days
Current
Trad-Distr
Mfg-Chem
Others
Electricity
Bus Serv
Mfg-Wood
Trad-H&R
Trad-Ret
Other MfgOther ConstrOther Trading
Rp
Fx
WC
Export
Invest
<2000
2000-2004
2005-2009
2010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Segment Days Aging Sector Currency Purpose OriginYear
Loan Profile: Downgrades to Cat. 2 Only (Rp 936 Bn) Bank OnlyRp 936 Bn loans were downgraded to
Category 2. Of the Special Mention
Loans downgraded:
56.5% are from SME and 42.1% are from Commercial loan
37.7% are less than 30 days overdue and 28.8% are current in interest payments
Primary sectors downgraded are: Retail Trading Distribution Trading H&R Trading
97.1% are Rp loans
72.2% are Working Capital loans and 19.9% are Investment Loan
* Excluding Micro & Consumer
96
4Q 2019 Loan Detail*: Category 2 Loans
Loan Profile: Category 2 Loans Only (Rp 29,100 Bn) Bank OnlyRp 29,100 Bn loans were in Category 2
in 4Q 2019. Of these Special Mention
loans:
59.7% are to Commercial customers, 34.3% are to Corporate customers, and 6.0% are to SME customers
82.1% are current, with an additional 9.7% less than 30 days overdue, and 8.2% more than 30 days overdue in interest payments
Primary sectors in Category 2 are: Raw Materials Manufacturing Mass Transportation Metal Manufacturing
74.0% are Rp loans
52.2% are Working Capital loans and 47.2% are Investment loans
62.9% were Category 2 in 2016-Current Year
Corp
Comm
SME
Current
1 Day
<30 Days
31-60 Days
61- 90 Days
Mfg-Metal
Mfg-Chem
Trad-Distr
Mfg-TextOther Trading
ConstrOther MfgPlantations
Mass Trans
Mfg-RawM
Bus ServOthers
Rp
Fx
WC
Invest
Export
2000-20042005-2009
2010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Segment Days Aging Sector Currency Purpose Origin Year * Excluding Micro & Consumer
97
4Q 2019 Loan Detail: Category 2 Micro & Consumer
Loan Profile: Category 2 Loans Micro & Consumer Bank OnlyRp 9,564 Bn in Micro and Consumer
loans were in Category 2 in 3Q19.
Of these Special Mention loans:
64.5% are to Consumer segments
23.9% are less than a week overdue
36.3% are from Mortgage, including Home Equity loan
Consumer
Micro
1 - 6 days
7 - 14 days
15 - 30 days
31 - 60 days
61- 90 Days
Mortgage
Auto Loan
CardEmployee
KUM
KUR
KSM
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Segment Days Aging Product
98
4Q 2019 Loan Detail*: Upgrades to PL
1
2
SME
Comm
Mfg-RawM
Mfg-Text
Mfg-F&B
Trad-Exp
Other Trading
Others
RP
InvestProgram
2005-2009
2010-2012
2013-2015
2016-Current Year
WC
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Segment Sector Currency Purpose Origin Year
Loan Profile Upgrades to PL (Rp 573.17 Bn) Bank Only
Commercial & SME loans upgraded to
PL in 4Q 2019 totaled Rp573.17 Bn.
Of these loans:
85.5% are to Commercial customers and 14.5% are to SME customers
91.5% loans originated later than 2010
Largest upgrades by sector:
Raw Materials Manufacturing
Textile Manufacturing
F&B Manufacturing
100% are Rp loans
98.0% are Working Capital loans; 2.0% were Investment loans
* Excluding Micro & Consumer
99
4Q 2019 Loan Detail*: Performing Loans
1
2
Corp
Comm
SME
Mfg
Plantations
Mfg-F&B
Mining
Constr
Trans
Trading
Others
Electricity
Trad-Ret
Bus Serv
RP
FX
WC
Program
Syndication
ExportConsumer
2000-20042005-20092010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Segment Sector Currency Purpose Origin Year
Loan Profile: Performing Loans Only (Rp 559.3Bn) Bank OnlyRp 559.3 Bn in Corporate, & Commercial
& Small Business loans were performing in
4Q2019. Of these performing loans:
65.2% are to Corporate, 24.5% are to Commercial, and 10.3% are to SME customers
98% originated since 2005
Primary sectors are:
Manufacturing
Business Services
Plantations
75.2% are Rupiah loans
42.1% are Working Capital loans; 40.7% are Investment loans
* Excluding Micro & Consumer
100
4Q 2019 Loan Detail*: Restructured Loans
1
2
34
5
<30 Days
61+ Days
Current
Electricity
Trad-Ret
Mfg
Trading
Others
Soc Serv
Comm
Trad-Distr
Mass Trans
Rp
Fx
Invest
Export
WC
Comm.
Corp.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Int Aging Sector Currency Purpose Segment
Loan Profile: Restructured Loans Only (Rp 54,206 Bn) Bank OnlyOf the remaining Rp 54,206 billion in restructured wholesale loans in 4Q2019:
79.9% are Performing
77.6% of Restructured Loans are current in interest payments
Primary sectors are:
Electricity
Retail Trading
Manufacturing
75.6% are Rp loans
51.0% are Investment loans and 45.2% are Working Capital Loans
57.4% are from Commercial customers and 42.6% are from Corporate customers
* Wholesale Loans Only
101
4Q 2019 Loan Detail*: Rupiah Loans
1
235
Current
1 Day
<30 Days
31-60 Days
61+ Days
Bus Serv
Mfg
Trading
Mfg-F&B
Electricity
Constr
Roads & Bridge
Comm
Others
Plantations
Corp.
Comm.
SME
WC
ProgramSyndication
ConsumerExport
2000-20042005-20092010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Sector Segment Purpose OriginYear
96.7% are performing loans, with 4.9% in Category 2
77.3% of Category 2 loans are current in interest payments
Primary sectors in Rupiah loans are: Business Services Plantations Manufacturing
56.6% are Corporate loans, 30.3% are Commercial loans, and 13.1% are SME loans
50.5% are Working Capital loans, 38.8% Investment loans
Loan Profile: Rupiah Loans Only (Rp 437,302 Bn) Bank OnlyRp 437,302 billion in loans were Rupiah denominated in 4Q 2019. Of the Rupiah Loans in 4Q 2019:
* Excluding Micro & Consumer
4Q 2019 Loan Detail*: FX Loans
1
235
<30 Days61+ Days
Current
MiningMetal Ore
Electricity
Soc Serv
Comm
Mfg
Trad-Ret
Trad-Distr
Mining-Coal
Mass Trans
Mining-Metal Ore
Mining-Oil & Gas
Trading
Mfg-F&B
Others
Comm
Agri
Corp
SME
Invest
WC
Syndication
Program
Consumer
Export
2000-20042005-20092010-20122013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Sector Segment Purpose OriginYear
99.10% are performing loans
95.6% of Category 2 loans are current in interest payments
Primary sectors in FX loans are: Electricity Trading Social Services
85.2% are Corporate loans
44.9% are Investment loans; 29.0% are Syndication; 18.7% are Working Capital Loan
Loan Profile: FX Loans Only (Rp 137.8 Bn) Bank Only
Rp 137.8 Bn in loans were FX denominated in 4Q 2019. Of the FX Loans in 4Q 2019:
* Excluding Micro & Consumer
102
103
4Q 2019 Loan Detail: Corporate Loans
99.9% are performing loans, with 2.7% in Category 2
98.4% Category 2 loans are current in interest payments
Primary sectors in Corporate are: F&B Manufacturing Plantations Business Services
67.8% are Rupiah loans
36.5% are Working Capital Loans; 40.8% are Investment Loans
Loan Profile: Corporate Loans Only (Rp 364,834 Bn) Bank OnlyRp 364,834 billion in loans were in the Corporate portfolio in 4Q 2019. Of the Corporate Loans:
1
25 <30 Days
Plantations
Bus Serv
Electricity
Others
Roads & Bridge
Trad-Ret
Mfg
Comm
Soc Serv
Mining-Coal
Mfg-F&B
Constr
Mining-Metal Ore
Real Estate
Rp
Fx
Syndication
Invest
WC
Export
2000-20042005-20092010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Sector Currency Purpose OriginYear
104
4Q 2019 Loan Detail: Commercial Loans
1
2
34
5
61+ Days
Current
Plantations
Bus Serv
Mass Trans
Trad-Distr
Trading
Mfg
Mfg-F&B
Mfg-Metal
Real Estate
Others
Mfg-RawM
Mfg-Chem
Comm
MiningConstr
Rp
Fx
WC
Syndication
Invest
ExportConsumer
2000-20042005-2009
2010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Sector Currency Purpose Origin Year
90.3% are performing loans, with 11.5% in Category 2
76.5% of Category 2 loans are current in interest payments
Primary sectors in Commercial are: Plantations Business Services Chemical Manufacturing
87.5% are Rupiah loans
50.5% are Working Capital loans, 46.0% are Investment loans
Loan Profile: Commercial Loans Only (Rp 151,563 Bn) Bank Only Rp 151,563 Billion in loans were in the
Commercial portfolio in 4Q 2019 .Of the Commercial Loans in 4Q 2019:
105
4Q 2019 Loan Detail: SME Loans
1
245
Current
1 Day
<30 Days
31-60 Days
61+ Days
Trad-Ret
Trad-Distr
Bus Serv
Household Equip.
Plantations
Mfg
Others
Trading
Health
Constr
TransTrad-Dom
Fx
Rp
Invest
Consumer
WC
Program
2000-20042005-2009
2010-2012
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Sector Currency Purpose OriginYear
95.4% are performing loans, with 3.0% in Category 2
43.6% of Category 2 loans are current in interest payments
Primary sectors in Small Business are:
Retail Trading Distribution Trading Business Service
97.7% are Rupiah loans
63.5% are Working Capital loans
Loan Profile: Small Business Loans Only (Rp 58,681 Bn) Bank OnlyRp 58,681Bn in loans were in the SME portfolio in 4Q 2019 of the SME Loans in 4Q 2019:
106
4Q 2019 Loan Detail: Micro Loans
1
245
1-6 days
7-14 days
15-30 days
31-60 days
61-90 days
KSM
KUM
KUR
Rp
2013-2015
2016-Current Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Product Currency Origin Year
99.2% are performing loans, with 2.8% in Category 2
25.7% of Category 2 loans are less than a week overdue in interest payments
62.0% are Salary Based loans
All are Rupiah loans
Loan Profile: Micro Loans Only (Rp 122,977Bn) Bank OnlyRp 122,977 Bn in loans were in the Micro portfolio in 4Q19. Of this Micro Loans :
107
4Q 2019 Loan Detail: Consumer Loans
1
245
1-6 days
7-14 days
15-30 days
31-60 days
61-90 days
Mortgage
Auto
Card
Employee
Rp
2016-Current Year
2013-2015
2010-20122005-2009
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Collect. Cat.2 Int.Aging
Product Currency Origin Year
97.8% are performing loans, with 6.5% in Category 2
22.6% of Category 2 loans are less than a week overdue in interest payments
46.9% are Mortgage
All are Rupiah loans
Loan Profile: Consumer Loans Only (Rp 94,295 Bn) Bank OnlyRp 94,295 Bn in loans were in the Consumer portfolio in 2019. Of this Consumer Loans in 4Q19:
108
Loan growth, Quality & Provisioning Relative to Peers Bank Only, As of September 2019
Average
16
4%
16
4%
16
0%
15
9%
15
6%
14
2%
11
0%
91
%
88
%
76
%
BC
A
Perm
ata
BR
I
BN
I
Man
diri
BTN
CIM
B N
iaga
Pan
in
Mayb
ank
Dan
amo
n
Ratio of Provisions to NPL*(%)
85
7,2
85
72
8,1
22
57
0,6
26
52
5,5
53
25
6,9
34
18
8,9
50
13
5,5
46
11
5,7
26
11
0,1
31
10
7,2
87
BR
I
Man
diri
BC
A
BN
I
BTN
CIM
B N
iaga
Pan
in
Mayb
ank
Dan
amo
n
Perm
ata
Total Loans(Rp bn)
Loan Growth YoY (%)
0.6
%
0.6
%
0.7
%
0.8
%
1.1
%
1.2
%
1.3
%
1.7
%
2.3
%
2.7
%
BC
A
Pan
in
Man
diri
BN
I
BR
I
Perm
ata
CIM
B N
iaga
Mayb
ank
BTN
Dan
amo
nNPL Ratio (Net)
(%)
11
1.5
%
10
4.8
%
97
.4%
96
.6%
96
.5%
96
.3%
93
.8%
92
.5%
88
.0%
80
.6%
BTN
Pan
in
CIM
B N
iaga
BN
I
Dan
amo
n
Mayb
ank
BR
I
Man
diri
Perm
ata
BC
A
Loan to Deposit Ratio(%)
1.6
%
1.8
%
2.6
%
2.7
%
2.8
%
2.9
%
3.0
%
3.3
%
3.5
%
3.5
%
BC
A
BN
I
Man
diri
CIM
B N
iaga
Mayb
ank
BR
I
Pan
in
Perm
ata
Dan
amo
n
BTN
NPL Ratio (Gross)(%)
16
.7%
14
.4%
11
.4%
10
.9%
10
.7%
6.3
%
4.5
%
2.2
%
0.7
%
-0.1
%
BTN
BN
I
Dan
amo
n
BR
I
BC
A
Man
diri
CIM
B N
iaga
Pan
in
Perm
ata
Mayb
ank
109
Asset and Liability Mix Relative to PeersBank Only, As of September 2019
Average
2.0
%
3.0
%
3.4
%
3.7
%
4.7
%
4.9
%
5.3
%
5.3
%
6.0
%
6.4
%
BC
A
Man
diri
BN
I
BR
I
Dan
amo
n
CIM
B N
iaga
Pan
in
Perm
ata
Mayb
ank
BTN
84
.3%
77
.7%
76
.3%
76
.3%
75
.1%
73
.4%
73
.3%
73
.1%
72
.0%
69
.5%
BTN
CIM
B N
iaga
Pan
in
BN
I
Mayb
ank
Perm
ata
Dan
amo
n
Man
diri
BR
I
BC
A
75
.6%
66
.0%
64
.4%
59
.5%
56
.9%
48
.3%
47
.5%
42
.6%
40
.7%
37
.2%
BC
A
Man
diri
BN
I
BR
I
CIM
B N
iaga
Dan
amo
n
Perm
ata
BTN
Mayb
ank
Pan
in
1,2
38
,65
8
1,0
97
,65
8
87
5,6
77
75
6,7
56
31
6,2
11
26
0,8
82
19
2,9
39
16
8,2
48
16
3,7
21
15
4,9
09
BR
I
Man
diri
BC
A
BN
I
BTN
CIM
B N
iaga
Pan
in
Dan
amo
n
Mayb
ank
Perm
ata
Loans to Total Earning Assets(%)
Cost of Funds (p.a.)(%)
Total Assets(Rp bn)
Low Cost Deposit Ratio(%)
9.8
%
8.8
%
8.7
%
8.7
%
8.6
%
8.3
%
7.9
%
7.9
%
7.8
%
7.7
%
BR
I
Pan
in
Dan
amo
n
CIM
B N
iaga
BTN
Mayb
ank
Perm
ata
BN
I
Man
diri
BC
A
Yield on Assets (p.a.)(%)
91
3,5
56
78
3,9
60
67
7,9
32
54
4,1
95
20
9,8
61
16
4,0
92
12
9,3
32
10
9,3
82
10
2,6
39
89
,74
0
BR
I
Man
diri
BC
A
BN
I
BTN
CIM
B N
iaga
Pan
in
Dan
amo
n
Perm
ata
Mayb
ank
Total Deposits(Rp tn)
110
Efficiency Measures Relative to PeersBank Only, As of September 2019
*AnnualizedAverage
39
.5%
39
.9%
40
.0%
43
.6%
46
.1%
46
.5%
48
.7%
56
.1%
63
.3%
65
.9%
BC
A
BR
I
Man
diri
BN
I
Pan
in
CIM
B N
iaga
Dan
amo
n
Perm
ata
Mayb
ank
BTN
1,0
44
64
4
57
3
53
7
27
1
23
1
21
1
15
8
11
6 92
BC
A
Man
diri
BN
I
BR
I
CIM
B N
iaga
Pan
in
Perm
ata
Mayb
ank
Dan
amo
n
BTN
26
.3
20
.7
19
.9
18
.1
14
.8
14
.8
13
.6
13
.0
10
.1
3.7
BC
A
BN
I
Man
diri
BTN
BR
I
Perm
ata
Mayb
ank
CIM
B N
iaga
Pan
in
Dan
amo
n
21
.4
21
.3
19
.5
18
.4
18
.3
15
.2
15
.2
13
.8
10
.6
3.8
BTN
BC
A
BN
I
Mayb
ank
Man
diri
Perm
ata
CIM
B N
iaga
BR
I
Pan
in
Dan
amo
n
Profit/ Employee(Rp Mn)*
Cost/ Income(%)*
Loans/ Employee(Rp Bn)
Deposits/ Employee(Rp Bn)
13
00
80
6
71
5
67
2
36
9
30
5
28
3
21
0
11
8
11
6
BC
A
Man
diri
BN
I
BR
I
CIM
B N
iaga
Pan
in
Perm
ata
Mayb
ank
Dan
amo
n
BTN
Pre Tax Income/Employee(Rp Mn)*
2.8
%
3.2
%
3.6
%
3.6
%
4.2
%
4.3
%
4.5
%
4.7
%
5.0
%
5.3
%
Pan
in
BTN
BN
I
Man
diri
BC
A
Mayb
ank
Perm
ata
Dan
amo
n
BR
I
CIM
B N
iagaCost/Assets
(%)*
111
Measures of Scale and Returns Relative to PeersBank Only, As of September 2019
Average
19
.2%
18
.0%
15
.3%
14
.7%
9.0
%
8.9
%
8.9
%
7.1
%
5.1
%
5.0
%
BR
I
BC
A
Man
diri
BN
I
Pan
in
CIM
B N
iaga
Dan
amo
n
Perm
ata
BTN
Mayb
ank
7.0
%
6.2
%
5.5
%
5.3
%
5.2
%
4.9
%
4.5
%
4.2
%
4.1
%
3.4
%
BR
I
BC
A
Man
diri
Dan
amo
n
CIM
B N
iaga
BN
I
Pan
in
Perm
ata
Mayb
ank
BTN
61
,54
6
39
,31
7
29
,74
9
26
,28
4
25
,74
3
12
,78
8
12
,57
6
11
,56
3
6,9
56
6,6
14
BR
I
Man
diri
Dan
amo
n
BN
I
BC
A
Pan
in
CIM
B N
iaga
BTN
Perm
ata
Mayb
ank
Branches
Return on Equity (After Tax)(%)
Employees
Net Interest Margins(%)
4.0
%
3.4
%
3.0
%
2.5
%
2.4
%
2.0
%
1.8
%
1.3
%
0.8
%
0.4
%
BC
A
BR
I
Man
diri
BN
I
Dan
amo
n
Pan
in
CIM
B N
iaga
Perm
ata
Mayb
ank
BTN
Return on Assets (Before Tax)(%)
20
,84
6
18
,57
0
18
,29
1
17
,60
0
4,5
08
2,1
60
1,6
01
1,5
24
99
9
98
9
BR
I
BN
I
Man
diri
BC
A
CIM
B N
iaga
BTN
Mayb
ank
Dan
amo
n
Pan
in
Perm
ata
ATMs
2,5
93
2,2
47
2,0
37
1,0
06
84
4
51
2
46
6
38
0
31
4
57
Man
diri
BN
I
BR
I
BC
A
BTN
Dan
amo
n
CIM
B N
iaga
Mayb
ank
Perm
ata
Pan
in
Notes
…………………………………………………………………………………………..
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112
Notes
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113
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 Lucky Ariesandi 62 21 250 5081 ext. 3622 [email protected]
BANK OF AMERICA-MERRILL LYNCH Anand Swaminathan 65 6678 0419 [email protected]
BCA SEKURITAS Gilang Purnama - [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 Laurensius Teiseran 852 2101 6088 [email protected]
DANAREKSA SEKURITAS Eka Savitri
62 21 29555 777 ext.
3510 [email protected]
DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 62 21 2964 4525 [email protected]
GOLDMAN SACHS (ASIA) Melissa Kuang 65 6889 2869 [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 Jayden Vantarakis 62 21 2598 8310 [email protected]
MIRAE ASSET SEKURITAS Lee Young Jun 62 21 515 3281 [email protected]
MORGAN STANLEY Mulya Chandra 62 21 3048 8125 [email protected]
RHB Henry Wibowo - [email protected]
SANFORD C. BERNSTEIN Kevin Kwek 65 6230 4650 [email protected]
UBS Joshua Tanja 62 21 574 0111 [email protected]
UOB KAY HIAN Raphon Prima - [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]://www.bankmandiri.co.id/web/ir
Corporate SecretaryTel: +62 21 524 5740
Fax:: +62 21 526 8246
