Annual Report Bank Mandiri

Bank Mandiri Annual Report 2014 Pitch On Pantone Canvas Gallery

Bank Mandiri

PT Bank Mandiri Tbk is Indonesia's second-largest financial institution by assets. Bank Mandiri offers businesses and individuals throughout Indonesia a full set of banking and non-banking products and services. The company also serves international clients with subsidiaries, branches and representative offices in London, Hong Kong, Singapore, Malaysia, Timor Leste, Shanghai, and the Cayman Islands. Bank Mandiri was established as a consequence of the Asian Financial Crisis. When the Indonesian financial sector had collapsed in the late 1990s, four state-owned banks (Bank Exim, Bank Bumi Daya, Bank Dagang Negara and Bapindo) were merged into Bank Mandiri as part of the government's bank restructuring program.

Industry Sector	Finance
Industry Sub Sector	Banking
Established	2 October 1998
Listed	14 July 2003
Listed company code	BMRI
Listed Shares	23,333,333,333
Dividend	Yes
Major Shareholders (>5%)	Government of Indonesia (60.00%)
Key Subsidiaries	Bank Syariah MandiriAXA Mandiri Financial ServicesMandiri SekuritasMandiri Tunas FinanceBank Sinar Harapan Bali Mandiri AXA General Insurance

Stock Quote Bank Mandiri - BMRI:

Business Summary

Bank Mandiri has six business segments:

• Institutional• Corporate • Treasury• Commercial & Business• Consumer Finance • Micro & Retail Banking

Bank Mandiri, through its subsidiaries, is active in a broad range of financial services. Bank Syariah Mandiri has achieved a dominant position in Indonesia's Islamic banking; Mandiri Sekuritas provides a full range of investment banking and asset management services, and is also a significant player in the government bond market; AXA Mandiri Financial Services provides bancassurance products through Bank Mandiri's retail branch network; Mandiri Tunas Finance is a nationally distributed multi-finance company specializing in vehicle loans; Bank Sinar Harapan Bali is a specialist micro-lender and Mandiri AXA General Insurance (MAGI) is engaged in non life insurance business.

Bank Mandiri has experienced a remarkable transformation between 2005 and the present. Around 2005, the bank posted weak financial results, for example a high Non-Performing Loan Ratio (NPL) of over 15 percent. However, through an extensive restructuring program it developed into one of Indonesia's largest companies (by market capitalization) and one of the country's leading financial institutions.

Bank Mandiri's Operational Highlights:

	2011	2012	2013	2014	2015	2016	2017
Number of Deposit Accounts¹	11,992	13,700	14,000	15,700	16,900
Number of Branches	1,537	1,810	2,050	2,312	2,457	2,599	2,631
Number of ATMs	8,996	10,985	11,514	15,444	17,388	17,461	17,766

^{¹ in thousandsSource: Bank Mandiri, Annual Report 2017}

Bank Mandiri's Financial Highlights:

	2015	2016	2017
Net Interest Income	45,363	51,825	52,327
Net Profit	20,335	13,807	20,640
Operating Income	26,339	18,613	27,170
Total Assets	910,063	1,038,706	1,124,700
Total Liabilities	736,199	824,560	888,027
Third Party Funds	676,387	762,501
Earnings per share¹	871,50	591,71	442,28
Non Performing Loan Ratio²	2.3%	3.96%	3.45%
Capital Adequacy Ratio (CAR)	18.6%	21.4%	21.6%
Loan to Deposit Ratio (LDR)	87.1%	85.9%	89.3%
Dividend per Share¹ (Gross)	261,45	266,27

	2010	2011	2012	2013	2014
Net Interest Income	19,519	21,776	28,422	33,809	39,132
Net Profit	9,218	12,246	15,504	18,204	19,872
Total Assets	449,775	551,892	635,619	733,099	855,040
Total Liabilities	408,232	489,237	559,086	596,735	697,020
Third Party Funds	362,212	422,250	482,914	556,341	636,381
Earnings per share¹	439,38	529,33	664,46	780,16	851,66
Non Performing Loan Ratio²	2.4%	2.2%	1.7%	1.6%	1.7%
Capital Adequacy Ratio (CAR)	13.4%	15.3%	15.5%	14.9%	16.6%
Loan to Deposit Ratio (LDR)	65.4%	71.7%	77.7%	83.0%	82.0%
Dividend per Share¹ (Gross)	120,60	104,97	199,33	234,04	212,91

^{in billion IDR rupiah, except otherwise stated¹ in IDR rupiah² grossSource: Bank Mandiri, Annual Report 2017}

Projection Bank Mandiri's Future Corporate Earnings:

	2018	2019F	2020F	2021F
Interest	80,993.0	89,816.0	97,442.0	105,102.0
PPOP	48,091.0	50,754.0	54,499.0	60,273.0
Net Profit	25,015.0	28,014.0	31,140.0	34,697.0
P/E Ratio (x)	13.2	11.7	10.6	9.5
P/BV (x)	1.8	1.7	1.5	1.4

^{in billion IDR, unless otherwise statedSource: Danareksa Sekuritas (12.09.2019)}

Plaza Mandiri Jalan Jenderal Gatot Subroto Kav. 36-38, Jakarta 12190Phone: +62 21 526 5045Fax: +62 21 527 4477Email: sukoriyanto.saputro@bankmandiri.co.id

www.bankmandiri.co.id

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