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            MAIN                       MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION
            HIGHLIGHTS                 REPORT       PROFILE   AND ANALYSIS




      




508   PT Bank Mandiri (Persero) Tbk.
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CORPORATE         ESG COMMITMENTS     SOCIAL AND ENVIRONMENTAL   FINANCIAL
GOVERNANCE        & PRACTICES         RESPONSIBILITY             STATEMENTS 2023




                                                                                   




                            CORPORATE
   GOVERNANCE



             Bank Mandiri strives to make a concerted effort to further
                    enhance the execution of corporate governance
                  in 2023 by adopting an integrated perspective that
                connects financial reporting and sustainability. This will
             enable the Bank to create long-term sustainability value,
               increase its contribution to the national economy, and
                        foster a more favorable business environment.




                                                                  ANNUAL REPORT 2023   509
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            MAIN                       MANAGEMENT     COMPANY                MANAGEMENT DISCUSSION
            HIGHLIGHTS                 REPORT         PROFILE                AND ANALYSIS




           GCG
           AWARDS 2023


                 GCG rating by The Indonesian Institute for Corporate
                 Directorship (IICD) in the 14 th IICD Corporate
                 Gover nance Conference and Awards 2023,
                 Bank Mandiri received an award in
                 “Best Overall”.

                 In 2023, Bank Mandiri has successfully maintained the
                 title of “The Most Trusted” for 17 (seventeen)
                 consecutive times in the Bank’s participation in the
                 ranking of the Corporate Governance Perception Index
                 (CGPI) program organized by The Institute Indonesian for
                 Corporate Governance (IICG).



                 In 2023, 3 (three) Entities in the Bank Mandiri Financial
                 Conglomeration received “The Most Trusted” rating,
                 4 (four) Entities received the “Trusted” rating, and 1
                 (one)Sub-Subsidiary received “trusted” rating in the
                 Corporate Governance Perception Index (CGPI) ranking.




510   PT Bank Mandiri (Persero) Tbk.
Page 4
  CORPORATE
   CORPORATE            ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                 FINANCIAL
  GOVERNANCE
   GOVERNANCE           & PRACTICES                    RESPONSIBILITY                           STATEMENTS 2023




                                                                          CORPORATE
                                                  GOVERNANCE PRACTICES




                                     As the largest bank in Indonesia by        so that the information provided is
Bank Mandiri strives to              market capitalization, Bank Mandiri        consistent, comparable, reliable,
make a concerted effort to           strives to drive sustainability value      assured, and able to provide a clear
further enhance the execution        creation through an integrated             picture to all stakeholders of the Bank’s
of corporate governance in           mindset that connects financial and        ability to create sustainable value over
2023 by adopting an integrated       sustainability data, processes and         time.
perspective that connects            analysis. Bank Mandiri is of the opinion
financial reporting and              that by adopting an integrated
sustainability. This will enable     mindset, the Bank’s sustainability
                                     processes, and financial reporting will    Bank Mandiri is of the opinion that
the Bank to create long-term
                                     be more effectively aligned with its       it is unattainable to incorporate
sustainability value, increase       business value.                            sustainability concerns into the
its contribution to the national                                                company’s way of thinking without
economy, and foster a more           An integrated mindset is required to       an integrated mindset. A perspective
favorable business environment.      deliver high-quality and decision-         that is integrated is the key to creating
                                     useful information to management,          sustainable value.
                                     the Board of Directors and investors.
                                     Furthermore, it is anticipated that the
                                     adoption of an integrated mindset will
                                     enhance the quality and reliability of
                                     data as well as advance sustainability
                                     and improve corporate reporting




                                                                                                  ANNUAL REPORT 2023        511
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             MAIN                            MANAGEMENT                               COMPANY                                MANAGEMENT DISCUSSION
             HIGHLIGHTS                      REPORT                                   PROFILE                                AND ANALYSIS




      CORPORATE GOVERNANCE COMMITMENT




               Understanding material issues related to sustainability is critical for
               the Bank Management as a basis for decision making. Bank Mandiri
               is committed to connecting information and reporting processes
               related to governance, risk, sustainability, and financial reporting in
               order provide a broader perspective of value creation. This is done
               as part of the Bank Mandiri commitment to adopting sustainable
               corporate governance.




      The implementation of sustainable corporate governance                     Consistent with this, Bank Mandiri strives to make a
      with an integrated mindset can provide positive energy                     concerted effort to further enhance the execution of
      for the Bank Mandiri in addressing various challenges                      corporate governance in 2023 by adopting an integrated
      while also serving as a strong foundation for adding                       perspective that connects financial reporting and
      value to every stakeholder. Additionally, as part of the                   sustainability. This will enable the Bank to create long-
      State-Owned Enterprises (SOEs), the Bank Mandiri is also                   term sustainability value, increase its contribution to the
      committed to optimizing the value of SOEs to have strong                   national economy, and foster a more favorable business
      competitiveness, both nationally and internationally.                      environment.



      CORPORATE GOVERNANCE REFERENCES

      The legal basis of corporate governance implementation in Bank Mandiri refers to the applicable Laws and Regulations
      including the Financial Services Authority Regulations, these include the following:

       No.                                                                 Regulations
      1.     Law No. 40 of 2007 concerning Limited Liability Companies as amended by Government Regulation in Lieu of Law No. 2 of 2022 concerning
             Job Creation as stipulated into Law based on Law No. 6 of 2023 on the Stipulation of Government Regulations in Lieu of Law No. 2 of 2022
             concerning Job Creation into Law.
      2.     Law of the Republic of Indonesia No. 10 of 1998 on amendments to Law No. 7 of 1992 concerning Banking as amended by Law No. 4 of 2023
             on the Development and Strengthening of the Financial Sector (“Law P2SK”)
      3.     Law of the Republic of Indonesia No. 8 of 1995 concerning Capital Market as amended by Law P2SK.




512   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                      ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                             FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                                       STATEMENTS 2023




                                                                          CORPORATE GOVERNANCE COMMITMENT




  No.                                                                     Regulations
 4.     Regulation of the Financial Services Authority (POJK) and Financial Services Authority Circular (SEOJK), as follows:
        •   POJK No. 9 of 2023 concerning the Use of Public Accountant Services and Public Accountant offices in Financial Services Activities
        •   POJK 17 of 2023 concerning the Implementation of Governance for Commercial Banks (POJK Governance)
            a. POJK Governance revokes POJK Number 55/POJK.03/2016 concerning the Implementation of Governance for Commercial Banks.
            b. Material provisions in other POJKs that regulate topics related to governance aspects, remain valid as long as they do not conflict.
            c. The implementing provisions of POJK Number 55/POJK.03/2016 concerning the Implementation of Governance for Commercial Banks
               and Bank Indonesia Regulation Number 11/33/PBI/2009 concerning the Implementation of Good Corporate Governance for Sharia
               Commercial Banks and Sharia Business Units, remain valid as long as they do not conflict.
            d. POJK Governance comes into effect on the date of endorsement.
        •   POJK No. 17/POJK.03/2014 concerning Implementation of Integrated Risk Management for Financial Conglomerates.
        •   POJK No.18/POJK.03/2014 concerning Implementation of Integrated Governance for Financial Conglomerates.
        •   POJK No. 33/POJK.04/2014 on the Board of Directors and Board of Commissioners of Issuers or Public Companies.
        •   POJK No. 34/POJK.04/2014 on the Nomination and Remuneration Committee for Issuers or Public Companies.
        •   POJK No. 35/POJK.04/2014 on Corporate Secretary of Issuers or Public Companies.
        •   POJK No. 21/POJK.04/2015 on Implementation of Corporate Governance Guidelines for Public Company.
        •   POJK No. 31/POJK.04/2015 concerning Disclosure of Material Information or Facts by Issuers or Public Companies.
        •   POJK No. 55/POJK.04/2015 concerning the Establishment and Working Implementation Guidelines for Audit Committee.
        •   POJK No. 56/POJK.04/2015 concerning the Establishment and Guidelines for Drafting an Internal Audit Unit Charter.
        •   POJK No. 27/POJK.03/2016 concerning Fit and Proper Test for the Main Parties of Financial Services Institutions.
        •   POJK No. 11/POJK.04/2017 concerning Ownership Reports or Any Changes in Share Ownership of Public Companies.
        •   POJK No. 37/POJK.03/2019 concerning Transparency and Publication of Bank Reports
        •   POJK No. 15/POJK.04/2020 concerning the Plan and Holding of the General Meeting of Shareholders of a Public Companies.
        •   POJK No. 16/POJK.04/2020 concerning Electronic Implementation of the General Meeting of Shareholders of Public Companies.
        •   SEOJK No. 15/SEOJK.03/2015 concerning Implementation of Integrated Governance for Financial Conglomerates.
        •   SEOJK No. 32/SEOJK.04/2015 on Guidelines for the Governance of Public Companies.
        •   SEOJK No. 13/SEOJK.03/2017 concerning Implementation of Governance for Commercial Banks
        •   SEOJK No. 18/SEOJK.03/2023 concerning Procedures for Rendering the Services of Public Accountants and Public Accounting Firms in
            Financial Services Activities.


 Bank Mandiri also applies the following Governance implementation guidelines:
 1. The Company’s Articles of Association.
 2. SOE Minister Regulation No. PER-2/MBU/03/2023 regarding Governance Guidelines and Significant Corporate
    Activities of the State-Owned Enterprises.
 3. The Company’s Internal Regulations including the Company’s policies regarding GCG.
 4. Corporate Governance Principles developed by the Organization for Economic Cooperation and Development
    (OECD).
 5. Indonesian GCG Guideline developed by the National Committee on Governance Policies (Komite Nasional
    Kebijakan Governance/KNKG).
 6. Principles for Enhancing Corporate Governance issued by Basel Committee on Banking Supervision.
 7. ASEAN Corporate Governance Scorecard.




                                                                                                                                ANNUAL REPORT 2023    513
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            MAIN                                MANAGEMENT                                 COMPANY                              MANAGEMENT DISCUSSION
            HIGHLIGHTS                          REPORT                                     PROFILE                              AND ANALYSIS




      CORPORATE GOVERNANCE PRINCIPLES




          TRANSPARENCY
          1. The Company discloses information in a timely, adequate, clear, accurate, and comparable manner and
             can be accessed by concerned parties (stakeholders).
          2. The Company discloses information which includes but not limited to the Company’s vision, mission, business
             objectives, strategy, the Company’s financial and non-financial conditions, the Board of Directors and Board
             of Commissioners compositions, controlling shareholders, risk management, supervisory and internal control
             systems, compliance functions, Corporate Governance as well as material information and facts that may
             influence investors’ decisions.
          3. The Company policies must be written and communicated to stakeholders who are entitled to obtain
             information about the policy.
          4. The principle of openness shall still observe the provisions of Company secrets, position secrets and personal
             rights in accordance with applicable regulations.




                            ACCOUNTABILITY
                            1. The Company sets business goals and strategies to be accountable to the stakeholders.
                            2. The Company establishes clear duties and responsibilities for each member of the Board of Commissioners
                               and Board of Directors organs as well as all levels under them which are in line with the Company vision,
                               mission, values, business objectives and strategies.
                            3. The Company must ensure that each member of the Board of Commissioners and the Board of Directors
                               as well as all ranks below them to have the competence in accordance with their responsibilities and
                               understands their role in Corporate Governance.
                            4. The Company establishes a check and balance system in its management.
                            5. The Company has performance standards for all levels based on agreed measurements consistent with
                               the corporate core values, the business goals and strategies and has a rewards and punishment system.




          RESPONSIBILITY
          1. The Company adheres to the principle of prudential banking practices and guarantees compliance with
             applicable regulations.
          2. The Company as a good corporate citizen care about the environment and carries out social responsibility fairly.




                            INDEPENDENSI
                            1. The Company avoids unfair domination by any stakeholder and is not influenced by unilateral interests, and
                               is free from conflicts of interest.
                            2. The Company makes decisions objectively and is free from any party’s pressure.




          FAIRNESS
          1. The Company gives due observance to all stakeholders’ interests based on the principles of equality and
             fairness (equal treatment).
          2. The Company provides opportunities for all stakeholders to provide input and express opinions for the interests
             of the Company and give access to information in accordance with the principle of openness.




514   PT Bank Mandiri (Persero) Tbk.                                                                                                    LAPORAN TAHUNAN 2023   514
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CORPORATE
 CORPORATE                  ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                              FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                                RESPONSIBILITY                                        STATEMENTS 2023




                                                                              CORPORATE GOVERNANCE PRINCIPLES




 IMPLEMENTATION OF GCG PRINCIPLES

 To manifest good governance practices, Bank Mandiri adheres to
 the basic principles of GCG in accordance with the INDONESIA
 CORPORATE GOVERNANCE GENERAL GUIDELINES (PUG-KI) 2021
 that have been updated by the Governance Policy National
 Committee (KNKG), namely Ethical Conduct, Accountability,
 Transparency, and Sustainability.

                                             GCG Principles Implementation in the Company
    GCG Principles                             Explanation                                               Application in the Company
  Ethical Conduct    In carrying out its activities, the corporation always consistently 1. Bank Mandiri strives to uphold Ethical Behavior in carrying
                     prioritizes honesty, treats all parties with respect, fulfills         out business and operational activities, as evidenced by the
                     commitments, builds and maintains moral values and beliefs.            application of compliance principles which are supported
                     The corporation pays attention to the interests of shareholders        by:
                     and other stakeholders based on the principles of fairness and is      a. Implementation of Anti-Money Laundering Programs,
                     managed independently so that each organ of the company                    Prevention of Terrorism Financing and Prevention of
                     does not dominate each other and cannot be intervened by                   Financing of Proliferation of Weapons of Mass Destruction;
                     other parties.                                                         b. Implementation of anti-corruption practices and culture;
                                                                                            c. Implementation of Gratification control;
                                                                                            d. Implementation of Whistleblowing System
                                                                                         2. The Company considers the interests of all stakeholders
                                                                                            based on the principle of equality and fairness (equal
                                                                                            treatment).
                                                                                         3. The Company provides opportunities for all stakeholders to
                                                                                            provide input and express opinions for the interests of the
                                                                                            Company and render access to information in accordance
                                                                                            with the principle of transparency.
  Accountability     The corporation can account for its performance transparently 1. The Company sets business goals and strategies to be
                     and reasonably. For this reason, the Corporation must be               accountable to the stakeholders.
                     managed correctly, measurably and in accordance with 2. The Company establishes clear duties and responsibilities for
                     corporate interests while considering the interests of shareholders    each member of the Board of Commissioners and Board of
                     and stakeholders. Accountability is a prerequisite for achieving       Directors organs as well as all levels under them which are
                     sustainable performance.                                               in line with the Company vision, mission, values, business
                                                                                            objectives and strategies.
                                                                                         3. The Company must ensure that each member of the Board
                                                                                            of Commissioners and the Board of Directors as well as all
                                                                                            ranks below them to have the competence in accordance
                                                                                            with their responsibilities and understands their role in
                                                                                            corporate governance.
                                                                                         4. The Company establishes a check and balance system in
                                                                                            its management.
                                                                                         5. The Company has performance standards for all levels
                                                                                            based on agreed measurements consistent with the
                                                                                            corporate core values, the business goals and strategies
                                                                                            and has a rewards and punishment system.




                                                                                                                              ANNUAL REPORT 2023             515
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             MAIN                           MANAGEMENT                                 COMPANY                                   MANAGEMENT DISCUSSION
             HIGHLIGHTS                     REPORT                                     PROFILE                                   AND ANALYSIS




      CORPORATE GOVERNANCE PRINCIPLES


                                                  GCG Principles Implementation in the Company
         GCG Principles                            Explanation                                              Application in the Company
      Transparency        To maintain objectivity in conducting business, corporations 1. The Company discloses information in a timely, adequate,
                          provide material and relevant information in a way that is easily     clear, accurate and comparable manner and can be
                          accessible and understood by stakeholders. Corporations take          accessed by concerned parties (stakeholders).
                          the initiative to disclose not only issues required by laws and 2. The Company discloses information which includes but
                          regulations, but also those that are important for decision-making    not limited to the Company’s vision, mission, business
                          by shareholders, creditors and other stakeholders.                    objectives, strategy, the Company’s financial and non-
                                                                                                financial conditions, the Board of Directors and Board of
                                                                                                Commissioners compositions, controlling shareholders, risk
                                                                                                management, supervisory and internal control systems,
                                                                                                compliance functions, corporate governance as well as
                                                                                                material information and facts that may influence investors’
                                                                                                decisions.
                                                                                             3. The Company policies must be written and communicated
                                                                                                to stakeholders who are entitled to obtain information about
                                                                                                the policy.
                                                                                             4. The principle of openness shall still observe the provisions
                                                                                                of Company secrets, position secrets and personal rights in
                                                                                                accordance with applicable regulations.
      Sustainability      The Corporation complies with laws and regulations and is 1. The Company has established a dedicated ESG Unit under
                          committed to carrying out its responsibility towards society and        the supervision of Vice President Director to coordinating
                          the environment to contribute to sustainable development                the implementation of sustainability programs.
                          through cooperation with all relevant stakeholders to improve 2. The Company has established a negative investment list
                          their lives in a way that is in line with business interests and the    and implemented Industry Acceptance Criteria (IAC) as
                          sustainable development agenda.                                         part of fulfilling the ESG concept.
                                                                                               3. The Company has established Bank Mandiri ESG
                                                                                                  Governance Structure, including to determine the Bank’s
                                                                                                  direction related to climate change and SDGs achievement;
                                                                                                  oversee ESG implementation, fulfillment of sustainability
                                                                                                  targets and initiatives; and oversee the implementation of
                                                                                                  integrated governance of Sustainability of Bank Mandiri
                                                                                                  and Subsidiaries.
                                                                                               4. The Company organizes specific training programs
                                                                                                  on sustainability aspects that must be followed by
                                                                                                  representatives of functions related to lending, credit
                                                                                                  supervision, risk management and others.
                                                                                               5. The Company holds periodic meetings specifically to discuss
                                                                                                  the progress of sustainability programs.




516   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   FINANCIAL
GOVERNANCE
 GOVERNANCE   & PRACTICES       RESPONSIBILITY             STATEMENTS 2023




                                    CORPORATE GOVERNANCE PRINCIPLES




                                                            ANNUAL REPORT 2023   517
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             MAIN                           MANAGEMENT                     COMPANY                                MANAGEMENT DISCUSSION
             HIGHLIGHTS                     REPORT                         PROFILE                                AND ANALYSIS




      CORPORATE GOVERNANCE ROADMAP
      The Corporate Governance implementation is carried out structurally with the following roadmap stages:




      1998                                                                 2005
      Beginning of Merger                                                  Cultural Transformation
      The GCG implementation awareness was driven by the banking           1. The Bank’s transformation was started through the
      crisis due to bad governance practices throughout the banking           establishment of shared values and formulation of Bank
      industry, this led to many banks needing to be bailed out and then      Mandiri’s primary behavior (TIPCE) reflecting the company’s
      the Board of Directors and the Board of Commissioners of the Bank       work culture.
      had to sign a Management Contract with the World Bank which          2. Development of GCG Charter as outlined in a Board of
      included the obligations to implement GCG.                              Commissioners Decree, which regulates the Bank’s GCG
                                                                              principles.
                                                                           3. The GCG rating in the Corporate Governance Perception
                                                                              Index (CGPI) received the “Very Trustworthy” predicate for
                                                                              the first time.
      2000 – 2001
      Establishing Governance Commitment, Structure, and Mechanisms
      Fundamentals
      Bank Mandiri responded to the Management Contract with the           2008 – 2010
      World Bank by issuing the following:                                 Continued Cultural Transformation
      1. Board of Directors and the Board of Commissioners Joint Decree    1. Continuously improve the implementation of prudential
          on GCG Principles.                                                  banking, GCG and internal control through the development
      2. Board of Directors and the Board of Commissioners Joint Decree       of the GCG website, Compliance Risk Management System,
          regarding the Code of Conduct in interacting with customers,        Standard Anti Money Laundering and Prevention of Terrorist
          partners and fellow employees.                                      Funding procedures, Risk Based Audit Tools and Audit
      3. Board of Directors Decree on the Compliance Policy which             Management Information Systems.
          requires all Bank Mandiri employees to take full individual      2. Making business and other management decisions by
          responsibility in carrying out the Bank’s activities in their       considering the principles of good corporate governance
          respective fields.                                                  while always considering all applicable regulations.
      4. The Bank appointed an independent consultant to conduct a         3. The implementation of an advanced cultural internalization
          diagnostic review on GCG implementation. The Independent            program, among others, through the holding of a Culture
          Rating Agency has given a 6,2 GCG assessment score for 2003,        Fair, Culture Seminar, and Recognition Program in the form
          an increase from the previous year score of 5,4.                    of awards to work units and the best change agents in
                                                                              cultural programs.




      2003
      Bank Mandiri’s Initial Public Offering (IPO)
      IPO Preparation, Bank Mandiri has improved the GCG                   2011 – 2013
      implementation with the following steps:                             Bank Indonesia issued PBI No. 13/1/PBI/2011 concerning
      1. Establishing Committees at the Board of Commissioners Level:      Assessment of Commercial Bank Soundness Level, requires
         • Audit Committee                                                 Banks, both individually and in consolidation, to conduct a GCG
         • Risk Oversight Committee                                        assessment using a Risk Based Bank Rating (RBBR) approach.
         • Remuneration and Nomination Committee                           1. The consistent implementation of Bank Mandiri’s GCG
         • GCG Committee                                                      has won appreciation from various independent and
      2. Establishment of the Corporate Secretary.                            professional national and international institutions:
      3. Holding The General Meeting of Shareholders in accordance            a. Bank Mandiri received the Best Financial title in GCG
         with the prevailing laws and regulations for public companies.           rating by The Indonesian Institute for Corporate
      4. Implementing timely disclosure of information, including in              Directorship (IICD) to 100 public companies with
         the publication of Financial Statements, material information            the largest market capitalization values listed on the
         or events or facts.                                                      Indonesia Stock Exchange
      5. Preparing an Annual Report that is timely, adequate, clear           b. Since 2009 Bank Mandiri has always received the honor
         and accurate.                                                            as the best company in GCG implementation GCG
      6. With due observance to the interests of minority shareholders.           rating by Corporate Governance Asia (CGA) based
      7. Participated in the assessment of GCG implementation by an               in Hong Kong.
         independent institution, namely The Indonesian Institute for         c. Implemented the Gratification control through the
         Corporate Governance.                                                    implementation of Gift
                                                                           4. Disclosure reporting on July 2, 2013 as an effort to prevent
                                                                              gratuity receipt in line with the Corruption Eradication
                                                                              Commission (KPK) recommendations.
                                                                           5. Participated in creating anti-corruption culture, among
                                                                              others, by taking part in 2013 Anti-Corruption Week activities
                                                                              organized by the KPK.


518   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                    ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                    FINANCIAL
GOVERNANCE
 GOVERNANCE                   & PRACTICES                               RESPONSIBILITY                              STATEMENTS 2023




                                                                            CORPORATE GOVERNANCE ROADMAP




 2014                                                                       2017
 1. The Bank received “The Best Overall GCG Rating” by The                  1. Bank Mandiri has participated in the CGPI assessment for 14
    Indonesian Institute for Corporate Directorship (IICD) in the              (fourteen) consecutive years since 2003.
    ASEAN CG Scorecard.                                                     2. The Bank received “The Best Overall” in the GCG rating by The
 2. The Bank received the title of “The Best of Asia” as an Icon               Indonesian Institute for Corporate Directorship (IICD) in the 2016,
    on Corporate Governance in GCG rating by Corporate                         ASEAN CG Scorecard,
    Governance Asia (CGA) in Hong Kong.                                     3. Bank Mandiri was awarded as a SOE with the Best Gratification
 3. Good Corporate Citizen (GCC) is in line with Bank Mandiri 2015             Control System in the 2017 International Anti-Corruption Day
    - 2020 corporate plan, one of which is the social economic                 Festival which was held on 11-12 December 2017 at the Bidakara
    impact, one of the components is the role model of corporate               Hotel, Jakarta.
    citizens. Bank Mandiri has conducted diagnostic review on
    GCC in the Company.
 4. Improve the provisions on the prohibition of gratification as
    stipulated in the Gift Disclosure Statement Operational Technical
    Guidelines (PTO) with the KPK recommendations.



 2015
 1. Conducted the stage 3 transformation.                                   2018
 2. The Bank received the “The Best Financial Sector” in the GCG            1. Bank Mandiri has participated in the CGPI assessment for 15
    rating by The Indonesian Institute for Corporate Directorship              (fifteen) consecutive years since 2003.
    (IICD) in the 2016 ASEAN CG Scorecard.                                  2. Bank Mandiri was included in the Top 50 ASEAN PLCs and Top
 3. The Bank received the title of “The Best of Asia “ as an Icon              3 PLCs Indonesia in the 2nd ASEAN Corporate Governance
    on Corporate Governance in GCG rating by Corporate                         Scorecard (CG) Awards.
    Governance Asia (CGA).                                                  3. Bank Mandiri was awarded again for the fourth time as a SOE
 4. Integrated Governance Implementation                                       with the Best Gratification Control System by KPK.
    a. Implementing integrated governance and integrated work
        units in the Mandiri Group in accordance with the POJK No.
        18/ POJK.03/2014 concerning Integrated Governance.
    b. Forming a Integrated Compliance Work Unit, Integrated Risk
        Management Work Unit and Integrated Internal Audit Work
        Unit, as well as the Integrated Governance Committee.
    c. Developing Integrated Governance Guidelines.
 5. Enhanced the Gift Disclosure Statement’s Operational Technical
    Guidelines (PTO) to become the Gratification Control PTO which
    took effect on July 3, 2015 and the launch of the Gratification
    Control Unit (UPG) on July 9, 2015. UPG Bank Mandiri received
    a BUMN award with the 2015 Best Gratification Control Unit
    from the Corruption Eradication Commission.                             2019
                                                                            1. The Bank received “The Best Overall” in the GCG rating by The
                                                                               Indonesian Institute for Corporate Directorship (IICD) in the 2019,
                                                                               ASEAN CG Scorecard.
                                                                            2. Bank Mandiri was in the Top 50 ASEAN PLCs and Top 3 PLCs in
 2016                                                                          Indonesia.
 1. Bank Mandiri received “The Best Overall” in the GCG rating              3. Integrated Governance Committee Composition improvement
    by The Indonesian Institute for Corporate Directorship (IICD) in           with the majority members of Independent Commissioners in
    the 2016, ASEAN CG Scorecard.                                              accordance with ACGS criteria.
 2. Participated in the National Gratification Control Unit Forum
    which was held from October 31 to November 3, 2016 in Bogor,
    West Java.
 3. Participated in the 2016 International Anti-Corruption Day
    Festival which was held on 8-10 December 2016 in Pekanbaru
    Riau. Bank Mandiri was selected as a BUMN with the Best
    Gratification Control System.




                                                                                                                      ANNUAL REPORT 2023             519
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             MAIN                          MANAGEMENT                            COMPANY                             MANAGEMENT DISCUSSION
             HIGHLIGHTS                    REPORT                                PROFILE                             AND ANALYSIS




      CORPORATE GOVERNANCE ROADMAP


      2020
      1. Bank Mandiri received The Best GRC Overall for Corporate Governance & Performance from Business News Indonesia Magazine
         in collaboration with the CEO Forum.
      2. Bank Mandiri’s participation in the ranking of the Corporate Governance Perception Index (CGPI) held by the IICG, again won
         the title of “Very Trusted” 14 (fourteen) times in a row.
      3. Bank Mandiri was in the ASEAN Asset Class in the ASEAN Corporate Governance Scorecard (ACGS) ranking by the ASEAN Capital
         Market Forum.
      4. The Bank adjusted the Board of Commissioners composition with the presence of female Independent Commissioners to be in
         accordance with ACGS criteria.



      2021
      1. Bank Mandiri received The Best GRC Overall for Corporate Governance & Performance 2021 (Digital & Wholesale Banking) at
         the GRC & Performance Excellent Award 2021 held by Business News Indonesia Magazine in collaboration with the CEO Forum.
      2. Bank Mandiri received The Best Chief Compliance Officer 2021 at the GRC & Performance Excellent Award 2021.
      3. Bank Mandiri received The Best Chief Risk Management Officer 2021 at the GRC & Performance Excellent Award 2021.
      4. Bank Mandiri received The Best Chairman in Banking Industries 2021 at the GRC & Performance Excellent Award 2021.
      5. Bank Mandiri again received the “Most Trusted” valuation in the research and rating program of Corporate Governance Perception
         Index (CGPI) 2020 held in 2021 by The Indonesian Institute for Corporate Governance (IICG) for the 15 (fifteen) consecutive years.
      6. Bank Mandiri received the Best Financial Sector in the Top 50 Big Capitalization Public Listed Company held by The Indonesian
         Institute for Corporate Directorship (IICD).
      7. Bank Mandiri has updated the Integrated Governance Committee Charter pursuant to the Decree No. KEP.KOM/011/2021 dated
         15 November 2021.




      2022
      1. GCG rating by The Indonesian Institute for Corporate Directorship (IICD) in the ASEAN CG Scorecard 2022, Bank Mandiri received
         the category of “The Best Financial Sector”.
      2. Bank Mandiri’s participation in the ranking of the Corporate Governance Perception Index (CGPI) program organized by The
         Institute Indonesian for Corporate Governance (IICG), has successfully maintained the title of “The Most Trusted” for 16 (sixteen)
         consecutive times.
      3. In this year’s ACGS assessment, Bank Mandiri again received the ASEAN Asset Class rating and was included in the list of 50 companies
         that implement Governance in accordance with the ASEAN Corporate Governance Scorecard (ACGS) and received the Best
         Financial Sector award at the 13th Institute for Corporate Directorship (IICD) Corporate Governance Award 2022.
      4. In 2022, 3 (three) Subsidiaries in the Financial Conglomeration of Bank Mandiri received the title of “Very Trusted” and 4 (four)
         Subsidiaries received the title of “Trusted” in the ranking of Corporate Governance Perception Index (CGPI).
      5. Bank Mandiri has adjusted the Integrated Governance Committee Members through the Decree of the Board of Directors No.
         KEP.DIR/17/2022 dated 18 April 2022
      6. Bank Mandiri has refined the Charter of the Integrated Governance Committee through the Decree of the Board of Commissioners
         No. KEP. KOM.005/2022 dated 18 November 2022.
      7. Bank Mandiri has refined the Integrated Governance Guidelines on 1 November 2022 and has been submitted to all financial
         institutions in the Mandiri Group Financial Conglomerates on 25 November 2022.




      2023
      1. GCG rating by The Indonesian Institute for Corporate Directorship (IICD) at the 14th IICD Corporate
         Governance Conference and Awards 2023, Bank Mandiri received the “Best Overall” category.
      2. Corporate Governance Perception Index (CGPI) organized by The Institute Indonesian for
         Corporate Governance (IICG), succeeded in maintaining the title of “The Most Trusted” for
         17 (seventeen) consecutive times.
      3. In 2023, there were 3 (three) Bank Mandiri subsidiaries awarded “The Most Trusted” rating,
         4 (four) subsidiaries awarded “The Most Trusted” rating, and 1 (one) Sub-Subsidiary awarded
         the ‘Trusted’ predicate in the Corporate Governance Perception Index (CGPI) 2022 ranking.
      4. Bank Mandiri has made adjustments to Integrated Governance Committee Members through
         the Decree of the Board of Directors No. KEP. DIR/018/2023 dated 11 April 2023.




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 CORPORATE                ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                          RESPONSIBILITY                         STATEMENTS 2023




                              GOVERNANCE IMPLEMENTATION
                                      IN 2023 & 2024 PLAN




        As part of the commitment and awareness of Corporate
        Governance’s role in business continuity, the governance practices
        in Bank Mandiri are continuously improved in 2023.




 The activities are as follows:                                        The self-assessment results for the first semester of
 1. Governance Self-Assessment – Bank Only                             2023 obtained a score of 1 (one), then receiving
    To improve the implementation of Governance in a                   feedback from the OJK with a score of 2 (two). This
    sustainable manner, Bank Mandiri conducts a self-                  indicates that Bank Mandiri’s management has
    assessment of Governance implementation - bank                     generally implemented good corporate governance
    only based on POJK No. 17 of 2023 and SEOJK No.                    practices, as reflected in the adequate fulfillment of
    13/SEOJK.03/2017 concerning the Implementation                     governance principles. In the second semester of 2023,
    of Governance for Commercial Banks. The self-                      the self-assessment score for individual governance
    assessment is carried out twice a year (the period of              was 1 (one), reflecting the excellent implementation
    June and December).                                                of corporate governance by Bank Mandiri. Bank
                                                                       Mandiri has not received feedback from OJK for the
    The results of the self-assessment of the implementation           self-assessment of the second semester of 2023.
    of Governance on an individual basis in the first
    Semester of 2023 received a score of 1 (one), but              2. Integrated Governance Self-Assessment
    OJK provided feedback on 5 December 2023 with                     In addition to conducting a self-assessment of
    a score of 2 (two), which reflects that Bank Mandiri’s            Governance Implementation – bank only, Bank
    management has implemented Governance that                        Mandiri also conducts a self-assessment on Integrated
    is generally good. This is reflected in the adequate              Governance implementation of based on POJK No.18/
    fulfillment of Governance principles. If there are                POJK.03/2014 and OJK Circular No. 15/SEOJK.03/2015
    weaknesses in the implementation of Governance                    on Integrated Governance. The self-assessment is
    principles, in general these weaknesses are less                  carried out twice a year (June and December period)
    significant and can be resolved with normal actions               engaging all Financial Service Institutions (LJK) in the
    by Bank Mandiri’s management.                                     Financial Conglomerates of Bank Mandiri.




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            HIGHLIGHTS                  REPORT                         PROFILE                         AND ANALYSIS




      GOVERNANCE IMPLEMENTATION IN 2023 & 2024 PLAN




         For the self-assessment of the implementation of              and other public information. The components of the
         Integrated Governance in the first Semester of 2023,          ASEAN Corporate Governance Scorecard assessment
         a score of 1 (one) was obtained, which reflects that          are as follows:
         the Financial Conglomeration is considered to have            a. Shareholder Rights
         implemented a generally very good Integrated                  b. Equal Treatment of Shareholders
         Governance. This is indicated in the highly adequate          c. Role of Stakeholders
         fulfillment of the principles of Integrated Governance.       d. Disclosure and Transparency
         In the event of weaknesses in the implementation of           e. Responsibilities of the Board of Directors and Board
         Integrated Governance, in general these weaknesses               of Commissioners
         are not significant and can be immediately amended
         by the Main Entity and/or Financial Services Authority     4. Corporate Governance Perception Index
         in the Financial Conglomeration.                              On the assessment of the quality of governance
                                                                       implementation, Bank Mandiri has participated in
         The results of the self-assessment of the implementation      a research and rating program for Governance
         of Integrated Governance in the second Semester               implementation, namely the Corporate Governance
         of 2023 obtained a score of 1 (one) which reflected           Perception Index (CGPI) rating 2021, which was
         that the Financial Conglomerate was considered                carried out in 2022. The theme of CGPI was “Building
         to have implemented Integrated Governance                     Resilience in the GCG Framework”. The stages of CGPI
         which was generally very good. This is reflected in           assessment include self-assessment, assessment of
         the very adequate fulfillment of the principles of            completeness of documents and observation. CGPI
         Integrated Governance. If there were weaknesses               assessment aspects include Governance Structure,
         in the implementation of the principles of Integrated         Governance Process, and Governance Outcome.
         Governance, in general the weaknesses were not
         significant and could be immediately improved by the
         Main Entity and/or FSI in the Financial Conglomerate.
                                                                    This is Bank Mandiri 20th participation
      3. ASEAN Corporate Governance Scorecard
         To continue the improvement of Governance, Bank
                                                                    since 2003 up to 2023, Bank Mandiri
         Mandiri has adopted a Governance assessment by             has successfully maintained the
         referring to the Governance principles developed
         by the Organization for Economic Cooperation and
                                                                    title of “The Most Trusted” Company
         Development (OECD) and has been agreed upon by             for 17 (seventeen) consecutive
         the ASEAN Capital Market Forum (ACMF) called the
         ASEAN Corporate Governance Scorecard (ACGS).
                                                                    times with a score of 95.22.

         The ASEAN Corporate Governance Scorecard is
         used to assess the Governance practices of publicly        Plans for 2024
         listed companies in ASEAN countries. The assessment        To improve the quality of Governance implementation,
         is based on publicly available information including       Bank Mandiri has developed a work plan for 2024,
         the Annual Report, Audited Financial Statements,           including:
         Sustainability Report, Announcement and Invitation of      1. Participation of Mandiri Group in Good Corporate
         General Meeting of Shareholders, Company Website               Governance (GCG) ranking/assessment.
                                                                    2. Fulfillment of ASEAN Corporate Governance Scorecard
                                                                        (ACGS) implementation.
                                                                    3. Implementation of self-assessment of Individual
                                                                        Governance and self-assessment of Integrated
                                                                        Governance implementation.




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 CORPORATE                ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL              FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                        RESPONSIBILITY                        STATEMENTS 2023




                                            GOVERNANCE ASSESSMENT




        To improve the implementation of the Bank’s governance in a
        sustainable manner, Bank Mandiri conducted Governance
        assessment by semester. In addition, Bank Mandiri also carried
        out GCG assessment through independent external parties by
        participating in the Corporate Governance Perception Index (CGPI)
        ranking and fulfilling the implementation of the ASEAN Corporate
        Governance Scorecard (ACGS).




 SELF ASSESSMENT                                                 2. Governance Process
                                                                    The governance process assessment aims to assess the
 Bank Mandiri conducted Governance self-assessment of               effectiveness of implementation process of corporate
 bank only based on POJK No. 55/POJK.03/2016 and SEOJK              governance principles supported by the adequacy of
 No. 13/POJK.03/2017 on Governance Implementation for               the governance structure and infrastructure to produce
 Commercial Banks.                                                  outcomes in accordance with the expectations of
                                                                    stakeholders.
 Applied Criteria                                                3. Governance Outcome
 The criteria in conducting Governance self-assessment of           The governance outcome assessment aims
 bank only refers to OJK Circular No. 13/SEOJK.03/2017 on           to assess the quality of outcomes that meet
 Implementation of governance for Commercial Banks.                 stakeholders’ expectations which are the results
 The self-assessment is intended to map the strengths               of the implementation process of corporate
 and weaknesses of the implementation of corporate                  governance principles supported by the adequacy
 governance in terms of three aspects, namely:                      of the governance structure and infrastructure of the
 1. Governance Structure                                            Company. Matters included in governance outcomes
    The governance structure assessment aims to assess              are qualitative and quantitative aspects, such as:
    the adequacy of the Bank’s Governance structure and             a. Adequacy of report transparency.
    infrastructure; hence the implementation process of             b. Compliance with laws and regulations.
    corporate governance principles produces outcomes               c. Consumer protection.
    that are in line with the goals of the Company’s                d. Objectivity in conducting an assessment/audit.
    stakeholders. The governance structure consisted of             e. Bank performance such as profitability, efficiency,
    the Board of Commissioners, Directors, Committees                   and capital.
    and work units. The governance infrastructure includes          f. Enhancement/diminution of compliance with
    policies and procedures, management information                     applicable regulations and resolution of issues
    systems and the main duties and functions of each
    organizational structure.




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               HIGHLIGHTS                       REPORT                                    PROFILE                                  AND ANALYSIS




      GOVERNANCE ASSESSMENT



                faced by the Bank, such as fraud, violations of                       8. Application of risk management including the internal
                the Legal Lending Limit (LLL), violations of provisions                   control system.
                related to bank statements to regulators.                             9. Funding to related parties and large exposures.
                                                                                      10. Transparency of the Bank’s financial and non-financial
      The Governance self-assessment of bank only covers 11                               conditions, reports on Corporate Governance
      (eleven) factors of governance assessment which include:                            implementation and internal reporting.
      1. Implementation of duties and responsibilities of the                         11. Bank Strategic Plans.
          Board of Commissioners.
      2. Implementation of duties and responsibilities of the                         Assessors
          Board of Directors.                                                         The process of Corporate Governance self-assessment
      3. Completeness and implementation of duties of the                             of bank only involves the entire Board of Commissioners,
          Committees.                                                                 Directors and units related to the intended governance
      4. Handling conflicts of interest.                                              assessment factors
      5. Application of the compliance function.
      6. Implementation of the internal audit function.
      7. Implementation of the external audit function.

      Assessment Scores
      In the first semester of 2023, Bank Mandiri conducted an individual Governance self-assessment with a score of 1,
      however OJK provided the following assessment feedback:
       Nilai                                                             Definition of Composite
      2        Reflecting that in general the Company’s management had implemented a good Governance. This was reflected in the adequate
               fulfilment of the principles of Governance. Where there were weaknesses in the application of GCG principles, in general these weaknesses
               were insignificant and could be resolved by regular actions by the Bank’s management.



      In semester II of 2023, Bank Mandiri has conducted Governance self-assessment. The OJK has not provided feedback
      for the self-assessment results for the Semester II of 2023. The assessment is as follows:
       Nilai                                                              Definition of Composite
      1         Reflecting that in general the Company’s management had implemented a very good Governance. This was reflected in the adequate
                fulfilment of the principles of Governance. In the event that there were weaknesses in the application of GCG principles, in general these
                weaknesses were insignificant and could be immediately improved by the Bank’s management.



      From the assessment results, the implementation of Bank Mandiri Governance in 2023 can be concluded as follows:
                                                  STRENGTH                                                                   WEAKNESS
      STRUCTURE
      1. Bank Mandiri organizes the Annual GMS to make changes to the Board of Directors and                                    None
         Board of Commissioners.
      2. All members of the Board of Directors and Board of Commissioners have passed the OJK fit
         and proper test.
      3. Adjustments have been made to the Committee Membership Decree under the Board of
         Commissioners as follows:
         a. Risk Oversight Committee through Decree of the Board of Directors No. KEP.
             DIR/016/2023 dated April 11, 2023.
         b. Remuneration and Nomination Committee through Decree of the Board of Directors
             No. KEP.DIR/017/2023 dated April 11, 2023.
         c. Integrated Governance Committee through Board of Directors Decree No. KEP.
             DIR/018/2023 dated April 11, 2023.
         d. Audit Committee through Board of Directors Decree No. KEP.DIR/033/2023 dated
             September 12, 2023.
      PROCESS
      1. To carry out the duties and responsibilities of the Board of Commissioners and the Board of                            None
         Directors, 30 (thirty) Board of Commissioners Meetings and 49 (forty-nine) Board of Directors
         Meetings were held during 2023.
      2. Bank Mandiri’s 2023-2025 Bank Business Plan (RBB) was discussed at the Board of Directors
         and Commissioners Meetings and submitted to OJK in accordance with applicable
         regulations.
      3. Committee meetings have been held in accordance with the needs of the Bank. In 2023,
         the Committees under the Board of Commissioners have conducted meetings with the
         following details
         a. Audit Committee: 28 times
         b. Risk Oversight Committee: 25 times
         c. Remuneration and Nomination Committee: 12 times
         d. Integrated Governance Committee: 6 times



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GOVERNANCE
 GOVERNANCE                     & PRACTICES                              RESPONSIBILITY                                     STATEMENTS 2023




                                                                                                     GOVERNANCE ASSESSMENT



                                           STRENGTH                                                                    WEAKNESS
 HASIL
 1. The Board of Directors has fully implemented the principles of Good Corporate                Violations of applicable regulations were still found.
    Governance in carrying out the Bank’s business activities at all levels of the organization,
    which is reflected in Bank Mandiri’s success in maintaining the title of “The Most Trusted
    Companies” by The Indonesian Institute for Corporate Governance (IICG) for 17
    (seventeen) consecutive times and receiving a score of 95.22.
 2. Annual Audit Plan 2023 Internal Audit has been approved by the President Director and
    the Board of Commissioners by considering the recommendations of the Audit Committee,
 3. The Compliance Director’s report for the first semester of 2023 has been submitted to OJK
    on July 31, 2023.



 EXTERNAL PARTY ASSESSMENT                                                         dignified growth. Assessment indicators from the
                                                                                   aspect of the governance process include:
 Bank Mandiri also actively participates in carrying out                           a. Governance Systems and Mechanisms of
 Governance assessment by External Parties to obtain                                   Shareholders and implementation of GMS.
 feedback on the Bank’s governance implementation.                                 b. Governance Systems and Mechanisms of the
                                                                                       Board of Commissioners and Board of Directors.
                                                                                   c. Governance Systems and Mechanisms of
 CORPORATE GOVERNANCE                                                                  Organizational Behavior.
 PERCEPTION INDEX (CGPI)                                                           d. Governance Systems and Mechanisms of
 In assessing the quality of governance implementation,                                Disclosure and Disclosure of Information.
 Bank Mandiri participated in the CGPI research and                                e. Governance Systems and Mechanisms of Risk,
 rating program held by The Indonesian Institute of                                    Compliance and Control and Supervision.
 Corporate Governance (IICG). CGPI is participated                                 f. Governance Systems and Mechanisms of Building
 by public companies (issuers), state-owned enterprises,                               the Company’s Shared Vision.
 banks and other private companies where Bank Mandiri                              g. Governance Systems and Mechanisms of
 has participated in the CGPI assessment for 20 (twenty)                               Organizational Infrastructure.
 consecutive times since 2003.                                                     h. Governance Systems and Mechanisms of Creativity
                                                                                       and Innovation.
 Applied Criteria                                                                  i. Governance Systems and Mechanisms of Social
 The aspects of the CGPI assessment in 2022/2023 include:                              and Environmental Responsibility.
 1. Governance Structure                                                           j. Governance Systems and Mechanisms of Business
    The aspect is an assessment of the completeness                                    and Industrial.
    of organs, structure and infrastructure to build the                        3. Governance Outcome
    company’s resiliency to the dynamic of changes                                 This aspect is an assessment of the quality of
    according to governance values, principles and                                 achievements and benefits as well as effective to
    procedures in order to create value for the stakeholders                       build the company’s resiliency to the dynamic of
    so as to realize sustainable growth of the company                             changes according to governance values, principles
    in an ethical and dignified manner. The assessment                             and procedures in order to create added value for
    indicators of governance structure include:                                    stakeholders to ensure ethically sustainable and
    a. Shareholders and the GMS                                                    dignified growth. Assessment indicators from the
    b. Board of Commissioners                                                      aspect of the governance outcome include:
    c. Board of Directors                                                          a. Governance Results and Impacts on the Company
    d. Supporting Organs of the Board of Commissioners                                 Organs
    e. Supporting Organs of the Board of Directors                                 b. Governance Results and Impacts on Conformity
    f. Functional Management                                                           of Organization
                                                                                   c. Governance Results and Impacts on Risk,
 2. Governance Process                                                                 Compliance, as well as Control and Supervision.
    This aspect is an assessment of effective and efficient                        d. Governance Results and Impacts on Social and
    operational systems and mechanisms to build the                                    Environmental Responsibility
    company’s resiliency to the dynamic of changes                                 e. Governance Results and Impacts on Building the
    according to governance values, principles and                                     Company’s Resilience
    procedures in order to create added value for
    stakeholders to ensure ethically sustainable and




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            MAIN                                  MANAGEMENT                                 COMPANY                                        MANAGEMENT DISCUSSION
            HIGHLIGHTS                            REPORT                                     PROFILE                                        AND ANALYSIS




      GOVERNANCE ASSESSMENT



      Assessors
      The assessor that conducted the CGPI assessment is The Indonesian Institute for Corporate Governance (IICG).

      Assessment Scores
      The results of the CGPI assessment are taken by Bank Mandiri to evaluate and improve GCG implementation. Bank
      Mandiri received the title of “The Most Trusted” Company in the 2022 CGPI assessment held in 2023 with a score of
      95.22. This award is Bank Mandiri’s 17th (seventeen) consecutive award. The composition of Bank Mandiri’s assessment
      for the last 4 (four) consecutive years is as follows:

                          Stages                             2020 Scores               2021 Scores                    2022 Scores                 2023 Scores
      Governance Structure                                         25.70                     33.76                       26.65                         31.53
      Governance Process                                           34.50                     34.26                       36.24                         31.24
      Governance Outcome                                           34.74                     26.99                       32.22                         32.45
       Scores                                                      94.94                     95.01                       95.11                         95.22



      CGPI assessment results in 17 (seventeen) consecutive years were as follows:



                                                                                                                                                      95.22
                                                                                                                                    95.01     95.11
                                                                                                               94.86     94.94




                                                                                                       93.55
                                                                                     93.29     93.32


                                                                             92.55
                                                                    92.15

                                           91.51    91.51
                                   91.51
                                                            91.33


                         90.55

        89.86    89.96




          2007    2008     2009    2010    2011     2012    2013      2014    2015   2016      2017    2018    2019      2020       2021       2022      2023




      Recommendations and Follow Ups
      From the results of the 2023 CGPI assessment, there were several recommendations from the IICG on the Bank’s governance
      implementation. These recommendations will be used for improving governance implementation at Bank Mandiri.




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GOVERNANCE
 GOVERNANCE                        & PRACTICES                                   RESPONSIBILITY                                      STATEMENTS 2023




                                                                                                              GOVERNANCE ASSESSMENT



 Recommendations and Follow Ups:

                   RECOMMENDATIONS                                                                          FOLLOW-UP
 GOVERNANCE STRUCTURE
 The Bank needs to periodically monitor and evaluate               Bank Mandiri has conducted regular monitoring and evaluation of the adequacy, completeness
 the adequacy, completeness and effectiveness of                   and effectiveness of the organizational structure. To support Bank Mandiri's aspirations as the
 organizational structures that are in line with the realization   customer's preferred financial partner and also the realization of corporate strategy, Bank
 of adaptive, strong, agile and efficient corporate                Mandiri groups the work units in its organizational structure into 3 large groups, namely:
 strategies in supporting sustainable company growth.              • Business Units
                                                                   • Support Functions
                                                                   • Business & Network
 Bank Mandiri needs to optimize HR competencies, Bank Mandiri has optimized HR competencies in key positions and also the Bank's elements in
 particularly for key positions in organizational structures other functions with national and international standard certifications. In addition, to continuously
 with national and international standard certifications. improve the quality, capacity and capability, Bank Mandiri's human resources continued to
                                                             attend training that is relevant to the current development of the banking industry.
 Bank Mandiri needs to make adjustments to corporate •                The process of adjusting and improving Bank Mandiri's policies has always been carried
 policies and strategies periodically and prudently in                out by taking into account aspects of prevailing regulations, Bank Strategy and also
 every dynamic of change that occurs by exploring                     business needs.
 emerging challenges, managing vulnerabilities, adapting •            Bank Mandiri's strategy is prepared comprehensively in accordance with the Bank's Vision,
 to managing changes, and taking opportunities by                     Mission and Strategy, considering external and internal factors and paying attention to
 optimizing potential to ensure it can achieve its goals              the principle of prudence and also the application of risk management.
 based on the best achievements.
 GOVERNANCE PROCESS
 Bank Mandiri can optimize compliance management •                    Bank Mandiri has optimized compliance, risk and governance management systems
 systems and mechanisms by considering adopting or                    and mechanisms in an integrated manner including management in the Mandiri Group
 implementing the ISO 37301:2021 standard concerning •                Bank Mandiri has carried out compliance, risk and governance in accordance with
 Compliance Management System                                         prevailing legal regulations.
 Bank Mandiri may consider implementing ISO 37000:2021 •              Bank Mandiri has optimized the Whistleblowing System (WBS) and continuously improves
 Governance of Organization guidelines.                               the effectiveness of its implementation. In 2023, improvements have been made to the
 Bank Mandiri can optimize the whistleblowing system                  WBS, namely integration with the KPK's WBS.
 and mechanism (WBS) by considering adopting or
 implementing the ISO 37002:2021 standard concerning
 Whistleblowing Management System.
 Bank Mandiri needs to optimize the strengthening of               Bank Mandiri is committed to continuously improving, developing and strengthening the quality,
 the quality, capacity and capability of human resources           capacity and capability of human resources, enabling Bank Mandiri's human resources to
 who are always ready to adapt quickly, accurately and             have high competitiveness and resilience, and are able to anticipate development trends
 appropriately to the dynamics of change; with good spirit         in the industry, particularly in the digital era. Improvement, development and strengthening
 and lively; and equipped with appropriate competency              are carried out through:
 certifications.                                                   • Face-to-face and virtual training
                                                                   • E-learning
                                                                   • National and international certifications to support its function in the company's lines.
 Bank Mandiri needs to identify and map the company's              Bank Mandiri strives to implement corporate governance practices as a foundation in creating
 stakeholders, including by considering the adoption of            sustainable added value for all stakeholders.
 the 2015 AA1000SES criteria (Stakeholder Engagement
 Standard) in order to carry out effective engagement              Bank Mandiri also continues to transform into a strategic partner that is able to innovate and
 and foster sustainable value creation for company                 provide added value to all stakeholders.
 stakeholders.
 Bank Mandiri needs to develop a reliable structure As a form of Bank Mandiri's commitment in supporting the creation of a reliable consumer
 and system related to consumer protection and protection system and realizing a financial system that grows sustainably, stably and is able
 empowerment                                        to protect the interests of consumers and the public, Bank Mandiri has a Bank Operational
                                                    Policy that regulates the implementation of consumer protection functions. Bank Mandiri has
                                                    also established a Consumer Protection Unit.

 GOVERNANCE OUTCOME
 Bank Mandiri needs to foster a resilient and agile culture        In building a Resilient Mandiri, Bank Mandiri implements the core values of AKHLAK (Trust,
 with the ability to quickly adapt and respond to changes          Competent, Harmonious, Loyal, Adaptive & Collaborative) through cultural programs held
 and manage challenges in order to become opportunities            to shape the mindset and behavior of each employee, to ensure that Mandirian can always
 to compete.                                                       quickly adapt and create a strong Mandirian character.




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             HIGHLIGHTS                          REPORT                                 PROFILE                                 AND ANALYSIS




      GOVERNANCE ASSESSMENT


                      RECOMMENDATIONS                                                                 FOLLOW-UP
      Bank Mandiri needs to optimize the company's •               Bank Mandiri focuses on becoming a leading wholesale bank by utilizing Bank Mandiri's
      capabilities, capacity, and main competencies through        strength as a wholesale bank that is able to acquire potential new sources of income.
      the achievement of adaptive, strong, agile and efficient •   Bank Mandiri has consistently continued innovation in sharpening strategies in every
      strategy implementation in supporting sustainable            business segment.
      company growth
      Bank Mandiri needs to optimize the improvement of the Bank Mandiri has optimized the improvement of the company's digital capabilities that can
      company's digital capabilities that can support efficient support efficient business development and sustainable business growth, as well as make the
      business development and sustainable business growth, company a major part of the digital ecosystem.
      as well as make the company a major part of the digital
      ecosystem.
      Bank Mandiri needs to properly handle all current legal Bank Mandiri already has a system and mechanism in place for handling and resolving legal
      cases and strive for optimal risk mitigation for lawsuits, issues of the Company as well as mitigating the risk of lawsuits.
      as well as prevent legal cases from happening again.


      In CGPI 2022 held in 2023, 3 (three) Subsidiaries received “The Most Trusted” Rating, 4 (four) Subsidiaries with the “Trusted”
      rating and 1 (one) Sub-Subsidiary with the “Trusted” rating, with the following scores:
       No.                                   Subsidiaries                                                   Ratings                          Scores
      1.     PT Bank Syariah Indonesia                                                                   “Most Trusted”                       91.50
      2.     PT Bank Mandiri Taspen                                                                      “Most Trusted”                       90.06
      3.     PT Mandiri Sekuritas                                                                        “Most Trusted”                       85.78
      4.     PT Asuransi Jiwa Inhealth Indonesia                                                           “Trusted”                          84.02
      5.     PT Mandiri Tunas Finance                                                                      “Trusted”                          83.10
      6.     PT AXA Mandiri Financial Services                                                             “Trusted”                          83.04
      7.     PT Mandiri Utama Finance                                                                      “Trusted”                          81.55
      8.     PT Mandiri Manajemen Investasi                                                                “Trusted”                          82.20




      ASEAN CORPORATE GOVERNANCE SCORECARD (ACGS)

      One of other assessments carried out related to GCG implementation at Bank Mandiri is the ASEAN Corporate Governance
      Scorecard, which is a parameter for measuring governance practices agreed upon by the ASEAN Capital Market
      Forum (ACMF). These parameters are based on the OECD Principles and are expected to increase investor confidence
      in listing companies in ASEAN.

      Applied Criteria
      The assessment components of the ASEAN Corporate Governance Scorecard are as follows:
      1. Shareholders’ Rights.
      2. Equal Treatment of Shareholders.
      3. Role of Stakeholders.
      4. Disclosure and Transparency
      5. Responsibilities of the Board of Directors and Board of Commissioners.

      Assessors
      The assessor that conducted the ASEAN CG Scorecard assessment is the ASEAN Capital Market Forum (ACMF).

      Scores of Independent Party Assessments
      Bank Mandiri is included in the list of companies that received the title of ASEAN Asset Class Public Listed Companies
      in the ASEAN Corporate Governance Scorecard assessment.




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CORPORATE
 CORPORATE                     ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                          FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                              RESPONSIBILITY                                    STATEMENTS 2023




                        APPLICATION OF CORPORATE
                  GOVERNANCE GUIDELINES TO PUBLIC
                                       COMPANIES


 Implementation of Corporate Governance Aspects and Principles
 Pursuant to Financial Services Authority Regulations

 The Company implements Corporate Governance Guidelines for Public Company as stipulated in POJK No. 21/
 POJK.04/2015 dated 16 November 2015 on the Enactment of Governance Guidelines of Public Companies as elaborated
 under SEOJK No. 32/SEOJK.04/2015 dated 17 November 2015 on the Corporate Governance Guidelines of Public
 Companies. The following are description on the implementation of these regulations:

          NO.                   ASPECTS – PRINCIPLES - RECOMMENDATIONS                                      COMPLY OR EXPLAIN
 A. ASPECT 1: RELATIONSHIP BETWEEN PUBLIC COMPANY AND SHAREHOLDERS IN ENSURING THE RIGHTS OF SHAREHOLDERS.
 A.1. Principle 1: Enhancing the Value of General Meeting of Shareholders (GMS).

 A.1.1                   The Public Company has technical means or procedure for In the Annual General Meeting of Shareholders (GMS) and
 Recommendation 1:       both open and closed voting that prioritize independency and Extraordinary GMS, Bank Mandiri has exercised open and close
                         interest of Shareholders.                                    voting which is stated in the GMS Mechanisms.

                         Every issued share with voting right has one vote (one share     The voting mechanism at the GMS is regulated in the Bank’s
                         one vote). The Shareholders may use their voting rights during   Articles of Association.
 Explanation:            the decision-making process, in particular to decision with
                         voting mechanism. However, both open and closed voting        In the 2023 Fiscal Year Annual GMS, the open voting mechanism,
                         mechanism has not been regulated in detail.                   and specifically for the agenda of changes of the management
                                                                                       was done with close mechanism which was carried out by the
                         The Public Company is recommended to have voting procedure Bank’s officers and collects the voting rights by approaching all
                         in decision making of GMS agenda. Such voting procedure present shareholders, in which voting are stored in the voting
                         must maintain independency or freedom of Shareholders. As box.
                         an example, an open voting mechanism is implemented by
                         raising hand in accordance with option as offered by the GMS The Bank has developed the GMS Procedures that can be
                         chairman. Whilst a close voting mechanism is conducted in downloaded in the Company’s website and were distributed
                         any decision that required confidentiality or by request from to the Shareholders during the GMS.
                         Shareholders through voting card or electronic voting.
                                                                                       Remark: Comply
 A.1.2.                  Commissioners of Public Company attends the Annual GMS.          The Annual GMS Fiscal Year 2023 was attended by all members
 Recommendation 2:                                                                        of the Board of Commissioners and Board of Directors
                         The presence of all members of the Board of Directors and the
                         Board of Commissioners of the Public Company is intended so Remark: Comply
 Explanation :           that each member of the Board of Directors and the Board
                         of Commissioners can pay attention to, explain, and answer
                         directly the issues or questions as raised by shareholders related
                         the GMS agenda.




                                                                                                                            ANNUAL REPORT 2023          529
Page 23
            MAIN                              MANAGEMENT                                  COMPANY                                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                        REPORT                                      PROFILE                                   AND ANALYSIS




      APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




               NO.                  ASPECTS – PRINCIPLES - RECOMMENDATIONS                                          COMPLY OR EXPLAIN
      A.1.3.                 The Summary of Minutes of GMS is available in the Public The Annual GMS minutes of meeting of 2023, in both Indonesian
      Recommendation 3:      Company’s website at least for one (1) year.                       and English language, was announced at the latest 2 (two)
                                                                                                working days following the GMS, which is published on the Bank’s
                             Based on Article 34 paragraph (2) of the OJK Regulation website, IDX Electronic Reporting System, OJK and eASY KSEI.
      Explanation :          No.32/POJK.04/2014 on the Plan and Implementation of the The Bank’s website presented the GMS convention, including
                             General Meeting of Shareholders of Public Company, The GMS minutes for the last 5 (five) years.
                             Public Company is required to make summary of GMS Minutes
                             in Indonesian and foreign language (minimum in English), and In addition, Bank Mandiri has prepared GMS Highlights both in
                             announced to the public within two (2) working days after Indonesian and English which are uploaded 1 (one) working
                             the GMS is held, one of which is through the Public Company day after the GMS on the Bank Mandiri Website and proof of
                             Website. The availability of summary of GMS Minutes in the Public the announcement of the GMS results has been reported by the
                             Company Website provides an opportunity for shareholders Company to OJK and the Indonesia Stock Exchange through
                             who are not present, to easily obtain important information in Letter No. HBK. CSC/CMA.980/2023 dated 16 March 2023 and
                             GMS implementation. Therefore, the provision on the minimum reported through the OJK Electronic Reporting System and the
                             period of availability of GMS Minutes summary in the Website Indonesia Stock Exchange.
                             are intended to provide sufficient time for shareholders to obtain
                             such information.
                                                                                                Remark: Comply
      A.2 Principle 2: Enhancing the Quality of Communication between Public Company with Shareholders or Investors.
      A.2.1.                 Public Company has communication policy with the The Bank has a communication policy with shareholders or
      Recommendation 4:      Shareholders and Investors.                                      investors, as stipulated in the Corporate Secretary Charter,
                                                                                              Chapter III.A.I. Disclosures.
                             The communication between Public Company and
      Explanation :          shareholders or investors is intended so that shareholders or The disclosure to the stakeholders is formulated by referring to
                             investors obtain clarity of information that has been published the Capital Market regulations and other relevant laws and
                             to the public, such as periodic reports, information disclosure, regulations, which can be summarized as follows:
                             business condition or prospect and performance, as well as 1. Periodic and or incidental reporting to regulators (OJK,
                             implementation of public company governance. In addition,           Bank Indonesia, LPS, Ministry of Justice and Human Rights,
                             the shareholders or investors can also submit input and opinion     Indonesia Stock Exchange) and reporting through Electronic
                             to the management of Public Company.                                Reporting System.
                                                                                              2. General Meeting of Shareholders (GMS).
                             The communication policy with shareholders or investors 3. Implemented according to laws and the Bank’s Articles of
                             shows the commitment of the Public Company in carrying              Association consisted of the Annual GMS and Extraordinary
                             out communication with shareholders or investors. This policy       GMS.
                             can include strategies, programs, and timing of communication 4. Organizing other activities related to corporate actions
                             implementation, as well as guideline that support shareholders      and/or disclosures such as:
                             or investors to participate in the communication.                   a. Performance Presentation (quarterly)
                                                                                                 b. Public Expose (annually)
                                                                                                 c. Analyst Meeting (quarterly)

                                                                                               The Performance Presentation, Public Expose dan Analyst
                                                                                               Meeting exercised quarterly and annually were aimed at
                                                                                               disclosing information to public and investors on the Bank’s
                                                                                               conditions, business prospects, performances, as well as its
                                                                                               corporate governance implementation.

                                                                                               The Bank also has established specific unit that is tasked to
                                                                                               maintain and manage good relations with investors, as well as
                                                                                               serve as a centre of information on the Bank’s performance
                                                                                               to the investors.

                                                                                               Remark: Comply
      A.2.2.                 The Public Company discloses the Communication Policy of The Bank has in place the communication policy on Public
      Recommendation 5:      Public Company with shareholders or investors in Website.        Company with shareholders or investors as stated in the
                                                                                              Corporate Secretary Charter, Chapter III.A.I Disclosures. The
                             Disclosure of communication policy is a form of transparency policy is provided in the Website. The Bank also continually
                             on the commitment of the Public Company in providing manages the information in the website, hence latest
      Explanation :          equality to all shareholders or investors for the implementation information is ready for the shareholders and investors, such as
                             of communication. The disclosure of information also aims to Products/Services, Performance, Management, and Activities.
                             increase the participation and role of shareholders or investors
                             in the implementation of the Public Company communication Remark: Comply
                             program.




530   PT Bank Mandiri (Persero) Tbk.
Page 24
CORPORATE
 CORPORATE                      ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                              RESPONSIBILITY                                     STATEMENTS 2023




   APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




          NO.                    ASPECTS – PRINCIPLES - RECOMMENDATIONS                                      COMPLY OR EXPLAIN
 B. ASPECT 2: FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS
 B.1 Principle 3: Strengthen the Membership composition of the Board of Commissioners.
 B.1.1.                  Determination of total members of the Board of Commissioners Bank Mandiri has complied with the Articles 20 POJK No. 33/
 Recommendation 6:       takes into account the conditions of the Public Company.           POJK.04/2014 concerning the Board of Directors and Board
                                                                                            of Commissioners of Issuers and Public Companies, namely
                         The total members of the Board of Commissioners may affect number of members of the Board of Commissioners is more
 Explanation :           the effectiveness of the duties of the Board of Commissioners. than 2 (two) members and Article 35 paragraph (1) of POJK
                         Determination of total members of the Board of Commissioners No. 17 of 2023 concerning the Implementation of Governance
                         of a Public Company must refer to the provisions of the prevailing for Commercial Banks, namely that Banks are required to have
                         law in which at least consists of two (2) people based on the members of the Board of Commissioners with at least 3 (three)
                         provisions of the POJK No. 33/POJK.04/2 14 on The Board of personnel and at most equal to the number of members of
                         Directors and Commissioners of Issuers or Public Companies. the Board of Directors.
                         In addition, it is also necessary to consider the condition of
                         the Public Company, which includes among other, the As of 31 December 2023, the number of members of the Board
                         characteristic, capacity and size, as well as achievement of Commissioners of Bank Mandiri is 11 (eleven) personnel
                         of target and fulfillment of different business needs among consisting of 6 (six) Independent Commissioners and 5 (five)
                         the Public Companies. However, exorbitant Board of non-Independent Commissioners.
                         Commissioners has the potential to disrupt the effectiveness
                         on the implementation function of the Board of Commissioners. Remark: Comply

 B.1.2.                  Determination on the composition of members of the Board The composition of members of the Board of Commissioners
 Recommendation 7:       of Commissioners takes into account on diversity of expertise, takes into account the diversity of expertise, knowledge and
                         knowledge and required experience.                              experience needed as disclosed in the Section of Composition
                                                                                         and Assignment of the Bank’s Board of Commissioners.
                         The composition of the Board of Commissioners is a combination
 Explanation :           of characteristics from both organ and individual perspective Remark: Comply
                         according to the need of respective Public Company.
                         These characteristics can be reflected in the determination
                         of expertise, knowledge and experience required in the
                         implementation of supervisory and advisory duty by the Board
                         of Commissioners of the Public Company. The composition
                         that has taken into account the need of the Public Company
                         is a positive, especially related to decision making related
                         with supervisory function as carried out by considering various
                         broader aspects.
 B.2. Principle 4: Enhancing the Quality of Implementation of Duties and Responsibilities of the Board of Commissioners.
 B.2.1.                  The Board of Commissioners has Self-Assessment Policy to The Board of Commissioners has in place the self-assessment
 Recommendation 8:       evaluate the performance of the Board of Commissioners.          policy that regulated in the BOC Charter. The Performance
                                                                                          Assessment of the Board of Commissioners is carried out by
                         The Board of Commissioners’ Self-Assessment policy is a each member of the Board of Commissioners through self-
 Explanation             guideline that is used as a form of collegial accountability for assessment mechanism based on assessment criteria of
                         evaluating the performance of the Board of Commissioners. duties implementation and responsibilities of the Board of
                         Self-assessment is carried out by each member to assess the Commissioners covering the aspects of structure, directives
                         collegial performance of the Board of Commissioners, and and oversight.
                         not to assess the individual performance of each member
                         of the Board of Commissioners. With this Self-Assessment, it is Remark: Comply
                         expected that each member of the Board of Commissioners
                         can contribute in improving the performance of the Board of
                         Commissioners on an ongoing basis.

                         This policy can include the assessment activity as carried out
                         along with the purpose and objective, periodic period of
                         implementation, and benchmark or assessment criteria being
                         used in accordance with the recommendations from the
                         Remuneration and Nomination function of Public Company
                         as required by OJK Regulation on the Remuneration and
                         Nomination Committee of Issuer or Public Company.




                                                                                                                             ANNUAL REPORT 2023            531
Page 25
            MAIN                            MANAGEMENT                                    COMPANY                                     MANAGEMENT DISCUSSION
            HIGHLIGHTS                      REPORT                                        PROFILE                                     AND ANALYSIS




      APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




               NO.                ASPECTS – PRINCIPLES - RECOMMENDATIONS                                             COMPLY OR EXPLAIN
      B.2.2.               The Self-Assessment Policy to evaluate the performance of The self-assessment policy on the Board of Commissioners’
      Recommendation 9:    the Board of Commissioners is disclosed in the Annual Report performance assessment has been disclosed in this Annual
                           of Public Company.                                           Report.

                           The disclosure of Self-Assessment Policy on performance of the Remark : Comply
      Explanation :        Board of Commissioners is conducted not only to comply with
                           transparency aspect as form of accountability of its duties but
                           also to provide assurance to the Shareholders or investors on
                           efforts that need to be done in improving the performance of
                           the Board of Commissioners. Upon the availability of disclosure,
                           the Shareholders or investors acknowledge the check and
                           balance mechanism towards the Board of Commissioners.
      B.2.3.               The Board of Commissioners has policy on resignation of member Bank Mandiri has in place the policy on resignation of member
      Recommendation 10:   of the Board of Commissioner when involved in financial crime. of the Board of Commissioners when involved in financial crime
                                                                                                 as stated in the Bank’s Articles of Association, namely the tenure
                           The resignation policy of member of the Board of Commissioners of the Board of Commissioners is ended upon the violations of
                           being involved in financial crime is a policy that can increase laws and regulations and upon resignation.
      Explanation :        the stakeholders’ trust in the Public Company, so that corporate
                           integrity will be maintained. This policy is needed to help the Referring to the Article 14 paragraph (26) letter f of the Bank’s
                           legal process and so that the legal process does not interfere Articles of Association, the tenure of member of the Board of
                           the course of business activities. In addition, in terms of morality, Commissioners is ended if no longer meet the requirements as
                           this policy builds an ethical culture within the Public Company. member of the Board of Commissioners based on the Articles
                           This policy can be included in the Code or the Code of Ethics of Association and other laws and regulations. In the event that
                           that applies to the Board of Commissioners.                           a member of the Board of Commissioners is resigning including
                                                                                                 if involved in the financial crime, thus a concerned member
                           Furthermore, being involved in financial crimes shall means the of the Board of Commissioners shall inform in writing regarding
                           convicted status from the authorities of respective member his/her intention to the Bank, and the Bank shall convene the
                           of the Board of Commissioners. The financial crimes are GMS to take decision on the resignation of a member of the
                           manipulation and various forms of embezzlement in financial Board of Commissioners within 90 days after the acceptance
                           service activities as well as Money Laundering Criminal Action as of the resignation.
                           referred to Law Number 8 of 2010 on Prevention and Eradication
                           of Money Laundering Crimes.                                           Remark : Comply
      B.2.4.               The Board of Commissioners or Committee that perform            Bank Mandiri has established the Remuneration and Nomination
      Recommendation 11:   the Remuneration and Nomination Function formulates the         Committee that assists the Board of Commissioners to propose
                           succession policy in the nomination process of member of the    recommendations to the shareholders of series A Dwiwarna,
                           Board of Directors.                                             in terms of the following:
                                                                                           Developing, implementing and analysing the nominating criteria
      Explanation :        Based on the provision of the OJK Regulation No. 34/ and procedures for candidates of the Board of Commissioners
                           POJK.04/2014 on the Remuneration and Nomination Committee and Directors.
                           of Issuer or Public Company, the committee that carries out
                           the nomination function has the task of formulating policy Identifying candidates of Directors from internal and/or external
                           and criteria needed in the nomination process of potential of the company, and candidates of Commissioners that meet
                           member of the Board of Directors. Policy that can support the the requirements for being proposed/appointed as Director
                           nomination process is the succession policy of member of the or Commissioner.
                           Board of Directors. The policy on succession aims to maintain
                           the continuity of the regeneration of leadership in the company To prepare future leadership regeneration, Bank Mandiri
                           in order to maintain the business continuity and the company’s designed the Talent and Succession Management program,
                           long-term objective.                                            a succession policy for the Board of Directors which refers to
                                                                                           SOE Minister Regulation No. PER-11/MBU/2021 concerning
                                                                                           requirements, procedures for appointment and dismissal of
                                                                                           SOE Board of Directors members as last amended by SOE
                                                                                           Minister Regulation No. PER-3/MBU/03/2023. In addition, as a
                                                                                           Public Company, the Bank’s Policy also refers to POJK No. 33/
                                                                                           POJK.04/2014 concerning the Board of Directors and Board of
                                                                                           Commissioners of Issuers or Public Companies. The appointment
                                                                                           and dismissal of the Bank’s Board of Directors is carried out
                                                                                           based on the principles of professionalism and Good Corporate
                                                                                           Governance (GCG).


                                                                                               Remark : Comply




532   PT Bank Mandiri (Persero) Tbk.
Page 26
CORPORATE
 CORPORATE                      ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                         FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                                RESPONSIBILITY                                   STATEMENTS 2023




   APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




          NO.                    ASPECTS – PRINCIPLES - RECOMMENDATIONS                                      COMPLY OR EXPLAIN
 C. ASPECT 3: FUNCTION AND ROLES OF THE BOARD OF DIRECTORS
 C.1. Principle 5: Strengthen the Membership composition of the Board of Directors
 C.1.1.Recommendation Determination of total members of the Board of Directors takes Bank Mandiri has complied with Article 20 POJK 33/POJK.04/2014
 12:                  into account on the condition of the Public Company and on the Board of Directors and the Board of Commissioners of
                      effectiveness in decision making.                                   Issuers or Public Companies, namely the Board of Directors of
                                                                                          Issuers or Public Companies consists of 2 (two) members and
                      Being the Company’s organ that is authorized in managing the Article 6 paragraph (1) of POJK No. 17 of 2023 concerning the
 Explanation :        Company, the determination of total members of the Board of Implementation of Governance for Commercial Banks, namely
                      Directors has significant impact to the Company’s performance. Banks are required to have at least 3 (three) members of the
                      Thus, the determination of the total members of the Board of Board of Directors.
                      Directors must be done through careful consideration and
                      refer to the provisions of the applicable regulation, whereby As of 31 December 2023, number of the Bank’s Directors
                      based on OJK Regulation No.33/POJK.04/2 14 on the Board of are 12 (twelve) members, and has been stipulated based
                      Directors and Board of Commissioners of Public Company, shall on complexity and requirements of the Bank. In the Board of
                      at least consists of 2 (two) people. In addition, the determination Directors rules, the mechanism of decision making of the Board
                      of total members of the Board of Directors must be based on of Directors has been stipulated.
                      the need to achieve the objectives and purpose of public
                      company and being adjusted to the conditions of the public Remark : Comply
                      company including the characteristic, capacity and size of the
                      public company and effectiveness of the decision making by
                      the Board of Directors.
 C.1.2.                  Determination on the composition of members of the Board of The determination of the Bank’s Board of Directors’ composition
 Recommendation 13:      Directors takes into account on diversity of expertise, knowledge has taken into account the Bank’s needs and business
                         and required experience.                                          complexity, namely by considering the diversity of skills,
                                                                                           educational background, and professional experience, and
                         Similar with the Board of Commissioners, the composition is gender equality. The Board of Directors’ structure diversity is
 Explanation :           diversity of members of the Board of Directors is a combination expected to provide alternative in resolving the increasingly
                         of required characteristic from both organ and individual complex issues faced by the Bank, compared to member of
                         perspective according to the needs of respective Public Directors that are naturally homogenic, thereby delivering the
                         Company. The combination is determined in view of expertise, best decisions in the decision-making process.
                         knowledge and experience in accordance with segregation
                         of tasks and functions of the Board of Directors in achieving Remark : Comply
                         the purpose of the Public Company. Thus, consideration of
                         the combination of characteristics will have an impact on
                         the accuracy of the collegial nomination and appointment
                         of individual member of the Board of Directors or Directors.
 C.1.3.                  Member of the Board of Directors in charge of accounting or The director in charge of accounting or finance at Bank
 Recommendation 14:      finance has expertise and/or knowledge in accounting field. Mandiri is the Director of Finance, namely Mr. Sigit Prastowo
                                                                                            with experience and competence in the field of Treasury
                         The Financial Report is a management accountability report (Finance), who in carrying out his duties requires the knowledge
                         for resources management owned by the Public Company, in accounting. In addition, to support the implementation of
 Explanation :           which must be compiled and presented in accordance with his duties, he often participates in forums and seminars related
                         Financial Accounting Standards in Indonesia as well as related to finance both at home and abroad.
                         OJK regulations, including regulation in the Capital Market
                         sector which regulates the presentation and disclosure of Remark : Comply
                         Public Company Financial Statement. Based on the laws and
                         regulations in the Capital Market sector that regulates the
                         responsibility of the Board of Directors for the Financial Report,
                         the Board of Directors is jointly responsible for the Financial
                         Report, signed by the President Director and member of the
                         Board of Directors in charge of accounting or finance.

                         As such, the financial disclosure and information presented in the
                         financial statements will be very much dependent on the skills,
                         and/or expertise of the Board of Directors, specifically member
                         of the Board of Directors in charge of accounting or finance.
                         Adequate qualifications and/or expertise in accounting that
                         at least proficient by the concerned members of the Board of
                         Directors, will ensure confidence in the preparation of financial
                         statements, thereby the financial statements can be relied on
                         by the stakeholders as a basic in decision making economically
                         related to the concerned Public Company. The expertise and/
                         or skills shall be affirmed by educational background, training
                         certificates, and/or related work experiences.




                                                                                                                             ANNUAL REPORT 2023            533
Page 27
            MAIN                              MANAGEMENT                                    COMPANY                                    MANAGEMENT DISCUSSION
            HIGHLIGHTS                        REPORT                                        PROFILE                                    AND ANALYSIS




      APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES


               NO.                  ASPECTS – PRINCIPLES - RECOMMENDATIONS                                            COMPLY OR EXPLAIN
      C.2. Prinsip 6 : Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi
      C.2.1                  The Board of Directors has Self-Assessment Policy to evaluate The Board of Directors has a self-assessment policy. The
      Recommendation 15:     the performance of the Board of Directors.                       performance assessment of the Board of Directors is carried
                                                                                              out by each member of the Board of Directors through a self-
                             Similar with the Board of Commissioners, the Board of Directors’ assessment mechanism to evaluate the performance of the
      Explanation :          Self-Assessment policy is a guideline being used as a form of Board of Directors collegially, and not to assess the individual
                             accountability to evaluate collegial performance of the Board performance of each member of the Board of Directors. As
                             of Directors. The self-assessment is conducted by each member described in the Annual Report in the section of the Performance
                             of the Board of Directors to assess the collegial performance Assessment of the Board of Directors.
                             of the Board of Directors, and not to assess the individual
                             performance of each member of the Board of Directors. With Remark : Comply
                             this self-assessment, it is expected that each member of the
                             Board of Directors can contribute to improve the performance
                             of the Board of Directors on an ongoing basis.

                             This policy can include the assessment activity as carried out
                             along with the purpose and objective, periodic period of
                             implementation, and benchmark or assessment criteria being
                             used in accordance with the recommendations from the
                             Remuneration and Nomination function of Public Company
                             as required by OJK Regulation No. 34/POJK.04/2014 on the
                             Remuneration and Nomination Committee of Issuer or Public
                             Company.
      C.2.2.                 The Self-Assessment Policy to evaluate the performance of the The self-Assessment policy on the performance of the Board
      Recommendation 16:     Board of Directors is disclosed in the Annual Report of Public of Directors has been disclosed in the 2023 Fiscal Year Annual
                             Company.                                                       Report in the Board of Directors Performance Evaluation section.

                             The disclosure of Self-Assessment Policy on performance of Remark : Comply
      Explanation :          the Board of Directors is conducted not only to comply with
                             transparency aspect as form of accountability of its duties but
                             also to provide assurance to the Shareholders or investors on
                             efforts that need to be done in improving the performance of
                             the Board of Commissioners. Upon the availability of disclosure,
                             the Shareholders or investors acknowledge the check and
                             balance mechanism towards the Board of Directors.
      C.2.3.                 The Board of Directors has policy on resignation of member of Bank Mandiri has in place the policy on resignation of member
      Recommendation 17:     the Board of Commissioner when involved in financial crime. of the Board of Directors when involved in financial crime as
                                                                                                      stated in the Bank’s Articles of Association.
                             The resignation policy of the Board of Directors involved in
      Explanation :          financial crimes is a policy that can increase the stakeholders’ Referring to the Article 14 paragraph (26) letter f of the Bank’s
                             trust in the Public Company, so that corporate integrity will be Articles of Association, the tenure of member of the Board of
                             maintained. This policy is needed to help the legal process and Directors is ended if no longer meet the requirements as member
                             so that the legal process does not interfere with the course of of the Board of Directors based on the Articles of Association and
                             business activities. In addition, in terms of morality, this policy will other laws and regulations, including involvement in financial
                             build an ethical culture within the Public Company. This policy crime. In the event that a member of the Board of Directors
                             can cover in the Code or the Code of Ethics that applies to is resigning including if involved in the financial crime, thus a
                             the Board of Directors.                                                  concerned member of the Board of Directors shall inform in
                                                                                                      writing regarding his/her intention to the Bank, and the Bank
                             Furthermore, what is meant by being involved in a financial shall convene the GMS to take decision on the resignation of
                             crime is the status of being convicted of a member of the Board a member of the Board of Directors within 90 days after the
                             of Directors from an authorized party. These financial crimes acceptance of the resignation.
                             include manipulation and various forms of embezzlement in
                             financial service activities as well as the Criminal Act of Money Remark : Comply
                             Laundering as referred to in Law No. 8 of 2010 concerning
                             Prevention and Eradication of Money Laundering.




534   PT Bank Mandiri (Persero) Tbk.
Page 28
CORPORATE
 CORPORATE                    ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                             FINANCIAL
GOVERNANCE
 GOVERNANCE                   & PRACTICES                                 RESPONSIBILITY                                       STATEMENTS 2023




   APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES


          NO.                  ASPECTS – PRINCIPLES - RECOMMENDATIONS                                           COMPLY OR EXPLAIN
 D. ASPECT 4: STAKEHOLDERS PARTICIPATION
 D.1. Principle 7: Enhancing Governance Aspect Through Stakeholders Participation.
 D.1.1.                 The Public Company has the Policy to prevent Insider Trading. The policy to prevent insider trading is regulated in SP SDM
 Recommendation 18:                                                                        • Chapter III.C.2.c regarding the Code of Conduct and
                        A person with inside information is prohibited from conducting       Business Ethics, which are ethical standards that must
                        a Securities transaction by using inside information as stipulate    be guided by all levels of the bank in carrying out daily
 Explanation :          under the Capital Market Law. Public company can minimize            duties and services and conducting business relations with
                        the occurrence of insider trading through prevention policies, for   customers, partners and colleagues.
                        example by firmly separating between confidential and public • Chapter III.C.2.e regarding employee disciplinary regulations
                        data as well as distributing the duties and responsibilities on      governing obligations, prohibitions and sanctions on
                        information management in proportional and efficient manner.         employees.

                                                                                           SP Corporate Secretary
                                                                                           Chapter III.A.5 Principles of Information Disclosure, which
                                                                                           regulates
                                                                                           • Insiders who have insider information are prohibited from
                                                                                              influencing any party, including the Insider’s family, to buy
                                                                                              or sell shares
                                                                                           • Insiders other than the Board of Directors and the Board of
                                                                                              Commissioners who commit violations as stipulated above
                                                                                              and are proven to have carried out transactions and/or
                                                                                              provide insider information will be subject to disciplinary
                                                                                              sanctions as stipulated in the Human Resources Guidelines
                                                                                              Standards (SPSDM)
                                                                                           • The Board of Directors and the Board of Commissioners and
                                                                                              parties due to their position, profession/ relationship with

                                                                                           Remark : Comply
 D.1.2.                 The Public Company has the anti-corruption and anti-fraud Gratuity Control
 Recommendation 19:     policies.                                                        Bank Mandiri realizes the gratuity control is vital to maintain
                                                                                         business process in line with business ethics that uphold high
 Explanation :          The anti-corruption policy ensures that the business activities integrity value. To that end, since 2013, Bank Mandiri has in
                        of the Public Company are carried out legally, prudently and place the Gift Disclosure Statement regulating the prohibition
                        in accordance with the principles of good governance. The to accept gratification for all Employees, and since 2015, the
                        policy can be part of a code of ethics, or in a separate form. Bank has in place the Gratification Control Unit to carry out
                        This policy may include, among others, the programs and gratuity control function at the Bank.
                        procedures implemented in dealing with corrupt practices,
                        kickbacks, fraud, bribery and/or gratuities in public companies. In addition, gratuity control aims at building the values of good
                        The scope of the policy must describe the prevention of the corporate governance and embedding integrity value to all
                        Public Company against all corrupt practices, either giving or employees thereby all business activities with Customer, Vendor,
                        receiving from other parties.                                    Partner, and all Stakeholders are always founded upon ethics,
                                                                                         mutual trusts, and responsibility. As such business interests can be
                                                                                         performed properly and ethically while keeping in line with the
                                                                                         gratuity prohibition rules. Currently, the Bank strives to carry out
                                                                                         continuous improvement in implementing its gratuity control.

                                                                                           To adapt to applicable regulations and current business
                                                                                           developments for the Bank to be able to carrying out daily
                                                                                           business activities and maintain good cooperative relations
                                                                                           with all stakeholders, Bank Mandiri has periodically made
                                                                                           improvements to the Gratification Control Technical Operational
                                                                                           Guidelines (PTO) which were last refined on 8 December 2023.

                                                                                           Anti-Bribery Management System
                                                                                           To foster the effort in eradicating corruption continuously, the
                                                                                           Bank has received ISO 37001:2016 certificate of Anti-Bribery
                                                                                           Management System on 10 August 2020 and the scope of
                                                                                           ISO 37001:2016 of Anti-Bribery Management System has been
                                                                                           extended to Procurement, Vendor Management and Internal
                                                                                           Audit Process on 20 September 2022.




                                                                                                                                 ANNUAL REPORT 2023             535
Page 29
            MAIN                        MANAGEMENT                        COMPANY                                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                  REPORT                            PROFILE                                   AND ANALYSIS




      APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




              NO.                ASPECTS – PRINCIPLES - RECOMMENDATIONS                           COMPLY OR EXPLAIN
                                                                            Implementation of Anti-Fraud Strategy
                                                                            Bank Mandiri has implemented an Anti-Fraud Strategy in
                                                                            accordance with the POJK No. 39/POJK.03/2019 for Commercial
                                                                            Banks. As part of the improvement of the Internal Control
                                                                            Policy, Bank Mandiri continues to make improvements to these
                                                                            regulations. This is also done in every policy such as Standard
                                                                            Operating Procedures (SPO), Technical Operational Guidelines
                                                                            (PTO) and other regulations.

                                                                            Bank Mandiri’s Anti-Fraud Strategy regulates 4 pillars, namely:
                                                                            1. Pillar 1 (Prevention) It is the responsibility of all levels of the
                                                                               Bank (work unit) and is part of the Fraud Control System
                                                                               in order to reduce the potential for fraud. Programs
                                                                               implemented in this pillar include:
                                                                               a. Anti-Fraud Awareness, such as socialization of Anti-
                                                                                     Fraud Statement, Employee Awareness Program
                                                                                     and Customer Awareness Program. The Employee
                                                                                     Awareness Program is carried out by providing training,
                                                                                     socialization, publication of fraud awareness through the
                                                                                     Bank’s internal media that reaches all employees and
                                                                                     block leave obligations for each employee. Customer
                                                                                     Awareness Program is carried out through the use of
                                                                                     social media effectively, periodically and dynamically.
                                                                               b. Identification of Vulnerabilities, such as the application
                                                                                     of Risk Management principles where all policies and
                                                                                     procedures are designed with due regard to internal
                                                                                     control, the application of GCG principles and
                                                                                     Compliance. The implementation of work by employees
                                                                                     in accordance with their authority and responsibilities
                                                                                     is stated in the job description of each employee, and
                                                                                     signed by the employee concerned. In addition, the
                                                                                     signing of the Annual Disclosure by all employees at the
                                                                                     beginning of the year.
                                                                               c. Know Your Employee (KYE) Policy is a principle applied
                                                                                     by the Bank to get to know each employee well both in
                                                                                     terms of ability and personality. KYE is carried out through
                                                                                     a candidate selection process as well as monitoring the
                                                                                     character and lifestyle of employees
                                                                            2. Pillar 2 (Detection) It is the responsibility of all units, both
                                                                               first-line, second-line, and third-line and is part of the fraud
                                                                               control system in order to identify and find fraud in the bank’s
                                                                               business activities. The programs implemented by Bank
                                                                               Mandiri in this pillar include:
                                                                               a. Whistleblowing System-Letter to CEO, which is managed
                                                                                     by an independent party to minimize conflicts of interest
                                                                                     and provide a sense of security to whistleblowers.
                                                                               b. Fraud Detection System, which has been implemented
                                                                                     to support the Bank’s detection activities which includes
                                                                                     detection of transactional fraud and non-transactional
                                                                                     fraud.
                                                                               c. Surprise Audit, whose implementation is prioritized in
                                                                                     business units that are at high risk or prone to fraud.
                                                                               d. Surveillance System, which aim to monitor and review
                                                                                     the internal control effectiveness (including fraud control
                                                                                     system).
                                                                            3. Pillar 3 (Investigation, Reporting, Sanctions and Legal
                                                                               Process) is part of the Fraud Control System in the context
                                                                               of handling fraud that occurs through investigations and
                                                                               the results are reported to the President Director, Board of
                                                                               Commissioners, and Regulators, including the proposed
                                                                               imposition of sanctions and legal processes for fraudsters. In
                                                                               order to strengthen the function of the Third Pillar, delegation
                                                                               of authority for the implementation of investigations and
                                                                               imposition of sanctions to each region has been carried out
                                                                               to accelerate the process of handling cases and recovery.




536   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                  ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                               FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                                 RESPONSIBILITY                                         STATEMENTS 2023




   APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




          NO.                ASPECTS – PRINCIPLES - RECOMMENDATIONS                                            COMPLY OR EXPLAIN
                                                                                          4. Pillar 4 (Monitoring, Evaluation and Follow-up) is part of
                                                                                             the Fraud Control System in order to monitor the follow-up
                                                                                             results of investigations and evaluation of fraud incidents,
                                                                                             to improve weaknesses and strengthen the Internal Control
                                                                                             System in order to prevent the recurrence of fraud due to
                                                                                             similar weaknesses. Written reporting to the President Director
                                                                                             and the Board of Commissioners is carried out in an orderly
                                                                                             manner to monitor the established follow-up list.

                                                                                          Remark: Comply
 D.1.3.               Perusahaan Terbuka memiliki kebijakan tentang seleksi dan Bank Mandiri has a policy regarding Selection and Capacity
 Recommendation 20:   peningkatan kemampuan pemasok atau vendor.                          Building for Suppliers or Vendors, namely:
                                                                                          1. Operational Policy (KOPR), article 205 on Operational
 Explanation :        The Public Company has policy on vendor or supplier selection           Facilities and Infrastructure - Procurement
                      and capability improvement.                                         2. rocurement Standard Operating Guidelines (SPO) that
                                                                                              regulate, among others (Chapter III):
                      The Policy on vendor or supplier selection is useful to ensure          a. General provisions include:
                      that the Public Company can obtain the required goods or                    i) Principles of Procurement
                      services at competitive prices and good quality. While the policy           ii) Procurement Ethics
                      of increasing the capability of supplier or vendor is useful for            iii) Purpose of the Procurement Process
                      ensuring the efficient and effective supply chain. The capability           iv) Monitoring of Domestic Products Use
                      of supplier or vendor to supply/fulfil the goods or services needed         v) Procurement Planning
                      by the company will affect the quality of the company’s output.             vi) Loading Guidelines
                                                                                              b. Provisions for the implementation of the procurement
                      Thus, the implementation of these policies can guarantee the                of goods and services include:
                      supply continuity in terms of quantity and quality as required              i) Procurement of Goods and Services Mechanism
                      by the Public Company. The scope of this policy includes                    ii) Procurement Process
                      criteria in selecting supplier or vendor, transparent procurement           iii) Stages of the Procurement Process
                      mechanism, effort to improve supplier or vendor capability,                 iv) Execution of Work and Handover of Work
                      and fulfil the right relating to supplier or vendor.                        v) Provisions for Change of Work (plus/minus) specifically
                                                                                                       in the field of construction implementation services.
                                                                                                  vi) mplementation of Procurement Activities to
                                                                                                       Overcome Certain Conditions.
                                                                                                  vii) Document and Payment Process.
                                                                                          3. Procurement Operational Technical Guidelines (PTO) that
                                                                                              regulate, among others (Chapter III):
                                                                                              a. Implementation Provisions
                                                                                                  i) Accreditation Partners (Goods and Services
                                                                                                       Providers)
                                                                                                       • General & including aspects that are reviewed
                                                                                                            in carrying out the qualifications of prospective
                                                                                                            Goods and Services Providers)
                                                                                                       • Procedures for partner accreditation (Goods and
                                                                                                            Services Providers) (including aspects considered
                                                                                                            in determining recommended partners to be
                                                                                                            invited in a procurement process)
                                                                                                       • Partner Monitoring includes:
                                                                                                            »» Monitoring Partner Data
                                                                                                            »» Partner Performance Monitoring, which
                                                                                                                 consists of
                                                                                                                  a) Evaluation of Partner Performance
                                                                                                                     Periodically
                                                                                                                  b) Evaluation of Partner Performance
                                                                                                                     based on Contract
                                                                                                            »» Increasing Partner Competence
                                                                                                            »» Sanctions for Associates

                                                                                          Remark: Comply
 D.1.4.               The Public Company has policy on fulfilment of creditor rights. The fulfilment of creditors’ rights at Bank Mandiri is stated in the
 Recommendation 21:                                                                       loan agreement with creditor. The following creditors’ rights are
                      The policy on fulfilment of creditor rights is used as a guideline stated in the agreement, among others:
 Explanation :        in providing loan to creditor. The purpose of the policy is to 1. Receive the audited financial statements;
                      maintain the fulfilment of right and maintain creditor trust in the 2. Receive the loan progress/use report;
                      Public Company. The policy includes consideration in making 3. Receive late sanction on report submission;
                      agreement, as well as follow-up in fulfilling the obligation of the 4. Receive written notification, request, and approval
                      Public Company to creditor.
                                                                                          Remark: Comply




                                                                                                                                ANNUAL REPORT 2023              537
Page 31
            MAIN                            MANAGEMENT                                   COMPANY                                    MANAGEMENT DISCUSSION
            HIGHLIGHTS                      REPORT                                       PROFILE                                    AND ANALYSIS




      APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




               NO.                ASPECTS – PRINCIPLES - RECOMMENDATIONS                                           COMPLY OR EXPLAIN
      D.1.5.               The Public Company has the Whistleblowing System policy.           1. Implementation of the Whistleblowing system at Bank
      Recommendation 22:                                                                         Mandiri is called the Letter to CEO (LTC). LTC is a facility for
                           A well-developed Whistleblowing system policy will provide            reporting fraud or indications of fraud from Bank Mandiri
                           certainty of protection to witness or reporter for an indication      employees and stakeholders to the President Director with
      Explanation :        of violation committed by employees or management of the              an emphasis on disclosure of complaints to increase the
                           Public Company. The implementation of the policy will have an         effectiveness of the implementation of the internal control
                           impact on establishing a culture of good corporate governance.        system within Bank Mandiri.
                           The Whistleblowing system policy includes, among others, type      2. Bank Mandiri’s LTC has been implemented since 2009 with
                           of violations that can be reported through the Whistleblowing         the LTC arrangement in the Letter to CEO (LTC) Technical
                           system, complaint procedure, protection and guarantee of the          Operational Manual which is continuously updated with
                           confidentiality of the reporter, handling procedure for received      the latest update on 03 October 2022.
                           complaints, parties that managing the complaints, and the          3. Since its revitalization in 2018, LTC management has involved
                           results and follow-up of complaints handling.                         independent parties to provide a safe-environment that
                                                                                                 encourages employees and stakeholders to dare to
                                                                                                 report. The reporter can include his complete identity or
                                                                                                 anonymously (the identity is only known by independent
                                                                                                 parties).
                                                                                              4. Submission of LTC reports can be submitted through the
                                                                                                 following media:
                                                                                                 Website https://bmri-wbsltc.tipoffs.info/
                                                                                                 Email to bmri-wbsltc.tipoffs.info
                                                                                                 Letter to POBOX 1007 JKS 12007
                                                                                                 SMS and WA to 0811-9007777


                                                                                              Remark : Comply
      D.1.6.               The Public Company has a long-term incentive policy for the Bank Mandiri has a policy of providing long-term incentives
      Recommendation 23:   Board of Directors and employees.                                   to Commissioners and Directors according to the provisions
                                                                                               in POJK No. 45/POJK.03/2015 concerning Implementation
                           Long-term incentive is a given incentive based long-term of Governance in Providing Remuneration for Commercial
      Explanation :        performance achievement. The long-term incentive plan has Banks. Bank Mandiri implements Governance in the Provision
                           the rationale that the long-term performance of the company of Remuneration that has considered various aspects, including
                           is reflected in the growth of shares value or other long-term bank financial stability, the creation of risk management, short-
                           target of the company. Long-term incentive shall have the term and long-term liquidity needs, and potential future income.
                           benefit to maintain loyalty and provide motivation to the Board
                           of Directors and employees to improve their performance Bank Mandiri can postpone deferred variable remuneration
                           or productivity, which will have an impact on improving the (Malus) or withdraw variable remuneration that has been paid
                           company’s performance in the long run.                              (Clawback) to officials who are classified as Material Risk Taker
                                                                                               (MRT).
                           The availability of a long-term incentive policy is an actual
                           commitment by the Public Company to encourage the Remark : Comply
                           implementation of long-term incentive to the Board of Directors
                           and Employees with terms, procedures and forms being
                           adjusted to the long-term objectives of the Public Company.
                           The policy can include, amongst other, the purpose of objective
                           in providing the long-term incentive, terms and procedures
                           in providing the incentive, and condition as well as risks that
                           must be considered by the Public Company in providing the
                           incentives. This policy can also be included in the existing public
                           company remuneration policy.




538   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                     ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                              FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                                 RESPONSIBILITY                                        STATEMENTS 2023




   APPLICATION OF CORPORATE GOVERNANCE GUIDELINES TO PUBLIC COMPANIES




          NO.                    ASPECTS – PRINCIPLES - RECOMMENDATIONS                                           COMPLY OR EXPLAIN
 E. ASPECT 5: INFORMATION DISCLOSURE
 E.1. Principle 8: Enhancing the Disclosure Implementation.
 E.1.1.                  The Public Company utilizes technology information wider than Bank Mandiri managed the Company’s Website as optimal
 Recommendation 24:      the Website as a media for information disclosure.                    as possible to always provide the most recent and accurate
                                                                                               information for the Public. Apart from the website, Bank Mandiri
                         The use of information technology can be useful as a medium also utilizes technology and other social media applications
                         for information disclosure. The disclosure of information is not only such as SMS Banking, Mobile Banking, Instagram, Facebook
 Explanation :           information disclosure that has been regulated in legislation, and Twitter for information disclosure media.
                         but also other information related to the Public Company,
                         which upon consideration is deemed useful to shareholders Remark : Comply
                         or investors. Upon the use wider of information technology
                         than the Website, the company is expected to improve the
                         effectiveness of information dissemination. Nevertheless, the
                         use of information technology is carried out while taking into
                         account the benefit and costs of the company.
 E.1.2.                  The Annual Report of Public Company disclose the ultimate          Bank Mandiri has disclosed information regarding shareholders
 Recommendation 25:      benefit owner in Public Company share ownership at least 5%        with 5% or more shareholding of the Company’s shares in the
                         (five percent), other than final beneficial owner disclosures in   2023 Annual Report.
                         ownership shares of the Public Company through main and
                         controlling shareholder.                                           Remark: Comply

                         The Capital Market Regulation that regulates the submission of
 Explanation :           annual reports of Public Company has regulated the obligation
                         to Disclose information regarding shareholders with 5% (five
                         percent) or more shares of the Public Company, as well as the
                         obligation to disclose information about directly or indirectly
                         main and controlling shareholders of Public Company up to
                         the owner of the last benefit in the ownership of the shares. In
                         this Governance Guideline, it is recommended to disclose the
                         ultimate benefit owner of the shares of the Public Company
                         at least 5% (five percent), in addition to disclosing the owner
                         of the final benefit of share




                                                                                                                                   ANNUAL REPORT 2023             539
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             MAIN                               MANAGEMENT                                     COMPANY                                       MANAGEMENT DISCUSSION
             HIGHLIGHTS                         REPORT                                         PROFILE                                       AND ANALYSIS




      IMPLEMENTATION OF CORPORATE GOVERNANCE ASPECTS AND
      PRINCIPLES APPLICATION BASED ON GUIDELINES OF CORPORATE
      GOVERNANCE PRINCIPLES FOR BANKS PUBLISHED BY BASEL
      COMMITTEE IN BANKING SUPERVISION




      The Governance Guidelines cover 12 principles of corporate governance. The Governance Guidelines are the standard
      of best practices applied as a reference in implementing corporate governance in banks. The description of the
      application can be explained, as follows:

            PRINCIPLES         EXPLANATION                                                             IMPLEMENTATION IN BANK MANDIRI
      Principle 1              The Board of Commissioners has the responsibilities of amongst          In the Board of Commissioners ‘code of conduct as outlined in
                               others approval and supervisory on the implementation of                the Board of Commissioners’ Decree KOM/014/2019 it is stated
      Responsibilities         business strategy, structure and governance mechanism as                that the responsibility of the Board of Commissioners is to provide
      of the Board of          well as the Corporate Culture                                           opinions and suggestions on Annual Work Plans and Budgets
      Commissioners                                                                                    and provide advice on important including corporate culture.
      Principle 2              Member of the Board of Commissioners must have the                      The Board of Commissioners of Bank Mandiri does not have
                               quality in accordance with duties and responsibilities as both          a financial relationship, management, share ownership
      Qualification            collegial and as per individual The Board of Commissioners shall        and/ or family relations with other members of the Board of
      and Composition          understand the roles within the supervisory and implementation          Commissioners, Directors and/or Controlling Shareholders or
      of the Board of          of corporate governance, as well as KOM/014/2019 to conduct             relations with the Bank, which may affect the ability to act
      Commissioners            a sound and objective decision process.                                 independently as stipulated in the Implementation provisions
                                                                                                       Good Corporate Governance for Commercial Banks and has
                                                                                                       signed an Independent Statement.
      Principle 3              The Board of Commissioners must apply the proper governance The Board of Commissioners has Committees under the Board
                               practice and structure in performing their duties and to of Commissioners assisting with the implementation of the duties
      Structure and            periodically review its effectiveness.                      of the Board of Commissioners, namely the Audit Committee,
      Mechanism of                                                                         Risk Oversight Committee, Remuneration and Nomination
      the Board of                                                                         Committee and Integrated Governance Committee.
      Commissioners
      Principle 4              Under the direction and supervision of the Board of                     The Board of Directors manages the Company under the
                               Commissioners, the Board of Directors manage the Bank’s                 direction and supervision of the Board of Commissioners, as
      The Board of Directors   activities in accordance with the business strategy, risk               evidenced by the company’s business achievements that
                               appetite, remuneration policy and other policies that have              have increased from the previous year. All policies underlying
                               been approved by the Board of Commissioners.                            the operations of Bank Mandiri must obtain the approval of
                                                                                                       the Board of Commissioners.
      Principle 5              In a business group, the Board of Commissioners of the parent           The Board of Directors and Board of Commissioners of Bank
                               company has overall responsibility on the business group and            Mandiri have knowledge and understanding of the main
      Governance Structure     to ensure the establishment and implementation of clean                 business and the main risks of the company, as evidenced
      of Business Group        governance practice related to the structure, business and              by the passing of the entire Board of Commissioners and
                               risks of business group and entities. The Board of Commissioners        Directors from Fit and Proper Test. The Board of Directors and
                               and the Board of Directors must understand the business group           the Board of Commissioners also constantly attend training
                               organizational structure as well as the encountered risk.               and development to improve their capabilities.
      Principle 6              The Bank must have the qualified, independent risk Bank Mandiri performs the Risk Identification, Measurement,
                               management function that has qualified resources with access Monitoring, Control and Risk Management Information System
      Risk Management          to the Board of Commissioners.                               through an Enterprise Risk Management (ERM) framework. Bank
      Function                                                                              Mandiri continues to improve the capabilities and knowledge
                                                                                            of all employees, especially in terms of risk management, by
                                                                                            holding internal training regularly through the Risk Management
                                                                                            Academy. In addition, Bank Mandiri also routinely holds at least
                                                                                            once a year socialization, discussion forums, internships, and
                                                                                            programs on risk management along with the internalization
                                                                                            of the corporate culture. Bank Mandiri communicates risk
                                                                                            management to the Board of Commissioners through the
                                                                                            Risk Oversight Committee and the Integrated Governance
                                                                                            Committee.
      Principle 7              Risks must be identified, monitored and controlled for all activities   In managing Bank Mandiri’s Risk Management, bankwide
                               of the Bank. The quality of risk management infrastructure and          identification, measurement and risk assessment has been
      Identification of Risk   internal control must be able to keep up with changes in the            performed by periodically developing risk profiles. Risk
      Oversight and Control    Bank’s risk profile, external risk conditions and industry practice.    measurement and assessment has been able to work well
                                                                                                       according to the established Risk Management Policy that is
                                                                                                       adjusted to the level of risk faced by Bank Mandiri.




540   PT Bank Mandiri (Persero) Tbk.
Page 34
CORPORATE
 CORPORATE                 ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                             FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                               RESPONSIBILITY                                       STATEMENTS 2023




         IMPLEMENTATION OF CORPORATE GOVERNANCE ASPECTS AND PRINCIPLES
     APPLICATION BASED ON GUIDELINES OF CORPORATE GOVERNANCE PRINCIPLES
              FOR BANKS PUBLISHED BY BASEL COMMITTEE IN BANKING SUPERVISION




       PRINCIPLES     EXPLANATION                                                       IMPLEMENTATION IN BANK MANDIRI
 Principle 8          Effective risk governance implementation requires accurate        Each semester assessment of Risk Based Bank Rating (RBBR)
                      risk communication in the Bank environment both between           is submitted to the Integrated Risk Committee (IRC), which
 Risk Communication   organizations and through reporting to the Board of               consists of Directors of Bank Mandiri and Subsidiaries. In
                      Commissioners and the Board of Directors.                         addition, the results of RBBR assessment are submitted to the
                                                                                        Board of Commissioners through the Integrated Governance
                                                                                        Committee.
 Principle 9          The Board of Commissioners is responsible for overseeing          The Board of Commissioners ensures the implementation of
                      management related to the Bank’s compliance risk. The Board       good corporate governance in every business activity and
 Compliance           of Commissioners must determine the compliance function and       corporate governance policies, including the implementation
                      provide approval for policies and processes for identification,   of compliance. The compliance risk assessment in RBBR is
                      assessment, monitoring and reporting, and providing advice        reported periodically to the Board of Commissioners every
                      on compliance risks.                                              6 (six) months.
 Principle 10         The internal audit function must report independent assurance     Conduct objective testing of evidence provide an
                      activities to the Board of Commissioners and must support         independent assessment of the adequacy of internal
 Internal Audit       the Board of Commissioners and the Board of Directors in          control, risk management and governance processes within
                      encouraging the implementation of effective governance            the organization. Internal Audit is directly responsible to the
                      processes and long-term soundness of the Bank.                    President Director and communicates with the Board of
                                                                                        Commissioners through the Audit Committee.
 Principle 11         The Bank’s remuneration structure must support the The current remuneration structure of Bank Mandiri is
                      implementation of corporate governance and risk in accordance with POJK No. 45/POJK.03/2015 on the
 Compensation         management.                                        implementation of Governance in the Provision of Remuneration
                                                                         for Commercial Banks.
 Principle 12         The implementation of governance from the Bank must be Bank Mandiri constantly updates its website
                      carried out transparently to Shareholders, Depositors, other www.bankmandiri.co.id to ensure the availability of the most
 Disclosure and       relevant Stakeholders and Market Participants                updated information for stakeholders. Moreover, disclosure of
 Transparency                                                                      Bank Mandiri information is carried out through Annual Reports,
                                                                                   Sustainability Reports and Public Expose.




                                                                                                                            ANNUAL REPORT 2023            541
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            MAIN                          MANAGEMENT                      COMPANY                       MANAGEMENT DISCUSSION
            HIGHLIGHTS                    REPORT                          PROFILE                       AND ANALYSIS




      STRUCTURE AND MECHANISM
      OF CORPORATE GOVERNANCE




              Pursuant to the Law of the Republic of Indonesia No. 40 of 2007
              concerning Limited Liability Companies, the Organs of the Company
              consists of General Meeting of Shareholders (GMS), Board of
              Commissioners and Board of Directors. In line with the Articles of
              Association and prevailing laws and regulations, each organ has
              an important role in implementing corporate governance and
              carrying out their respective functions, duties, and responsibilities
              for the benefit of the Company.




      The GMS is the highest decision-making forum for the             In carrying out the Company’s corporate stewardship,
      shareholders. While the stewardship system applies a             the Board of Directors is supported by an effective
      two-tier system comprising Board of Commissioners and            management structure, while the Board of Commissioners
      Board of Directors with clear authorities and responsibilities   performs its supervisory and advisory duties with the
      according to their respective functions stipulated in the        assistance of its supporting organs, namely Audit
      Articles of Association as well as laws and regulations.         Committee, Nomination and Remuneration Committee,
      However, both are responsible for the Company’s business         Risk Oversight Committee, and Integrated Governance
      sustainability in the long term. Therefore, the Board of         Committee.
      Commissioners and the Board of Directors should have
      common perceptions of the Company’s vision, missions,
      and values.




542   PT Bank Mandiri (Persero) Tbk.
Page 36
CORPORATE
 CORPORATE                       ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                                  FINANCIAL
GOVERNANCE
 GOVERNANCE                      & PRACTICES                             RESPONSIBILITY                                            STATEMENTS 2023




                                       STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE




                                                         Corporate Organ Structure




          Transparency                  Accountability             Responsibility                   Independence                        Fairness



                                                                  Main Organs




                                    Board of Commissioners              GMS                        Board of Directors




      Secretary of Board of                           Supporting Organ Checks & Balances                                          Sekretaris Perusahaan
         Commissioners




                                                                   Asset & Liability
                                Audit Committee                                                          Business Committee
                                                                    Committee




                                Remuneration &                 Capital and Subsidiaries                  Human Capital Policy
                              Nomination Committee                   Committee                              Committee




                                  Risk Oversight              Information Technology &
                                                                                                      Integrated Risk Committee
                                   Committee                  Digital Banking Committee




                              Integrated Governance             Policy and Procedure                    Risk Management and
                                    Committee                        Committee                         Credit Policy Committee




                                                              Transformation Committee                    Credit Committee




                                                                                     Social & Environmental
                                                                                    Responsibility Committee




                                                                                                                                    ANNUAL REPORT 2023    543
Page 37
                                  MAIN                            MANAGEMENT                                   COMPANY                                     MANAGEMENT DISCUSSION
                                  HIGHLIGHTS                      REPORT                                       PROFILE                                     AND ANALYSIS




      STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE



      GOVERNANCE STRUCTURE


      To continuously improve the quality and scope of governance, Bank Mandiri have formulated and implemented
      operational policies for all units in line with principles of corporate governance, namely Bank Mandiri Policy Architecture.
      It is a hierarchy/arrangement of policies serving as the framework and governance in formulating policy as well as the
      Company’s activities implementation. The Bank has a Mandiri Group Principles Guideline which guides all parts of the
      company in the Financial Conglomeration of Bank Mandiri.



                                                                                        Mandiri Group Principle
                                                                                          Guidlines “MGPG”




                                               Articles of Association                   Articles of Association                 Articles of Association
         Tata Kelola Perusahaan




                                                       Policy                                    Policy                                  Policy




                                                                                                                                                                      Filosofi
                                               Procedure Standard                        Procedure Standard                       Procedure Standard




                                                                 Guiding Principles for the Management of Mandiri Subsidiaries “MSMPG”




                                               Technical Guidelines*                     Technical Guidelines*                   Technical Guidelines*




                                                                                       Company Value Culture



                                                                                 Business Ethics and Code of Conducts




      The governance soft structure of Bank Mandiri includes:                                             5. Risk Management Policy dated 3 April 2023.
                                                                                                          6. The Board of Commissioners Charter which has been
      1. Bank Mandiri’s Articles of Association which have been                                               updated and approved through the Decree of the
         ratified by the Minister of Law and Human Rights of                                                  Board of Commissioners No. KEP.KOM/008/2023 on 30
         the Republic of Indonesia in accordance with the                                                     November 2023.
         notification receipt letter No. AHU-AH.01.03-0041000                                             7. The Board of Directors Charter which has been
         and decree No. AHU-0016584. AH.01.02.Tahun 2023                                                      updated and approved through the Board of Directors
         both dated 16 March 2023 and registered in the                                                       Decree No. KEP.DIR/056/2021 on 15 October 2021.
         Company Register No. AHU-0054153. AH.01.11.Tahun                                                 8. The Integrated Governance Guidelines have received
         2023 dated 16 March 2023.                                                                            approval from the Board of Commissioners on 1
      2. Bank Mandiri Policy Architecture which was updated                                                   November 2022.
         and approved on 19 August 2021.                                                                  9. Integrated Governance Committee Charter through
      3. Mandiri Subsidiary Management Principles Guideline                                                   the Decree of the Board of Commissioners No. KEP/
         (MSMPG) dated 24 February 2022.                                                                      KOM.005/2023 on 12 October 2023.
      4. Guidelines for the Board of Directors’ Charter                                                   10. Audit Committee Charter and Code of Ethics of the
         through the Decree of the Board of Directors No. KEP.                                                Audit Committee through the Decree of the Board of
         DIR/040/2023 on 23 October 2023.                                                                     Commissioners No. KEP.KOM/006/2023 on 12 October
                                                                                                              2023.



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 CORPORATE                ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                        RESPONSIBILITY                           STATEMENTS 2023




                               STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE



 11. Risk Oversight Committee Charter through the Decree         25. Technical Guidelines for the Bank Only and Integrated
     of the Board of Commissioners No. KEP/KOM.007/2023              Governance Self- Assessment that have been updated
     on 12 October 2023.                                             on 14 November 2023.
 12. Remuneration & Nomination Committee Charter                 26. Wholesale Credit Collection and Recovery Operating
     through the Decree of the Board of Commissioners                Technical Guidelines that have been updated and
     No. KEP/KOM.004/2023 on 12 October 2023.                        approved on 30 October 2023.
 13. Operational Policy which was updated and approved
     on 3 April 2023.                                            MECHANISMS OF CORPORATE
 14. Legal, Compliance and Anti-Money Laundering,                GOVERNANCE
     Countering the Financing of Terrorism, & Preventing
     the Financing of the Proliferation of Weapons of            Corporate governance mechanism is a process to
     Mass Destruction policies have been updated and             implement corporate governance principles supported
     approved on 16 November 2023.                               by the adequacy of bank governance structure and
 15. Risk Management Standard Operating Procedures               infrastructure, producing outcomes compatible with the
     that have been updated and approved on 16 January           stakeholders’ expectation. The process to implement
     2023.                                                       corporate governance is inherent to the structure of
 16. Standard Procedure for Corporate Secretary that has         corporate governance as follows.
     been updated and approved on 02 March 2023.
 17. Procurement Standard Operating Procedures that              Shareholders
     have been updated and approved on 1 December                Shareholder is an individual or a legal entity who lawfully
     2022.                                                       owns one or more share in a Company. Shareholders are
 18. Standard Operating Procedures for Corporate Work            owners of the Company. Company’s Share is a share on
     Plans and Budgets, and Bank Business Plans which have       behalf of and is issued by the owners who are registered
     been updated and approved on 16 December 2023.              in the List of Shareholders and which consist of:
 19. Accounting Standard Procedures which have been
     updated and approved on 29 September 2023.                  1. Series A Dwiwarna Share that may only be owned by
 20. Standard Operating Procedure for Wholesale Credit              the Republic of Indonesia.
     Collection & Recovery which has been updated and            2. Series B Share that may be owned by the Republic of
     approved on 15 September 2022.                                 Indonesia and/or the Citizens.
 21. Standard Operating Procedure for Retail Credit
     Collection & Recovery which has been updated and            Rights of the Shareholders
     approved on 23 August 2023.                                 As a State-Owned Enterprises (SOE), the majority ownership
 22. Information Technology Standard Operating                   of Bank Mandiri is owned by the Government of the
     Guidelines that have been updated and approved              Republic of Indonesia, which in this case is represented
     on 02 October 2023                                          by the Ministry of SOE. As such, the Main and Controlling
 23. Internal Audit Standard Procedures that have been           Shareholder of Bank Mandiri is the Government of the
     updated and approved on 12 October 2023.                    Republic of Indonesia. There are no Main and Controlling
 24. Standard Human Resource Procedures that were                Shareholders indirectly, up to individual owners. In addition,
     updated and approved on 15 December 2023.                   there are no Shareholders who act on behalf of other
                                                                 Shareholders.




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            HIGHLIGHTS                    REPORT                          PROFILE                        AND ANALYSIS




      STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE




                            52%                                          PT Bank Mandiri (Persero) Tbk




                      Pemerintah Republik
                          Indonesia




      At the time of establishment, the state equity investment by            the percentage of capital investment at other
      the Republic of Indonesia to Bank Mandiri was undertaken                company which requires GMS approval as per
      based on Government Regulation No. 75 of 1998 on State                  the Articles of Association.
      Equity Investment of the Republic of Indonesia for the              h. Approving the utilization of net profit.
      Establishment of Limited Liability Company in Banking               i. Approving the non-operational investment and
      Field dated 1 October 1998.                                             long-term funding which requires GMS approval
                                                                              as per the Articles of Association
      The equity investment was undertaken by altering state           2. Right to propose GMS agenda.
      held shares to the ex-legacies of Bank Mandiri: Bank Bumi        3. Right to request and access company data and
      Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia               documents.
      and Bank Pembangunan Indonesia.                                  4. Right to propose binding nomination of candidates of
                                                                          Board of Directors members and candidates of Board
      As the majority shareholder, the Government of the                  of Commissioners members.
      Republic of Indonesia currently holds 52% of the shares,
      or 48,533,333,334 shares, in which one Series A Dwiwarna         In addition to the above privileges, certain actions of
      share is among all the shares. Series A Dwiwarna                 the Board of Directors with certain criteria must obtain
      shareholder is entitled to the following privileges that other   written approval from the Board of Commissioners and
      shareholders do not hold:                                        Series Shareholders A Dwiwarna as stipulated in Article
                                                                       12 paragraph (7) Bank Mandiri’s Articles of Association.
      1. Right to approve the following matters in GMS:
         a. Approving the Amendment to the Company’s                   Rights of General Shareholders
            Articles of Association.                                   Bank Mandiri Shareholders, both Holders of Series A
         b. Approving capital change.                                  Dwiwarna Share and Holders of Series B Share, have the
         c. Approving the appointment and dismissal of                 same right in addition to the Special Right of Series A
            members of the Board of Directors and Board of             Dwiwarna Share above and as long as not regulated
            Commissioners.                                             otherwise by the Company’s Articles of Association, as
         d. Approval of merger, consolidation, acquisition,            follows:
            segregation, dissolution of the Company.                   1. The right to attend, express opinions, and vote in a
         e. Approving the remuneration of the Board of                      GMS based on one share.
            Directors or Board of Commissioners.                       2. Each Shareholder has the right of 1 (one) vote/share
         f. Approving asset transfer and assurance which                    (one share one vote)
            requires GMS approval as per the Articles of               3. Obtain an explanation of the voting procedure before
            Association.                                                    the GMS begins.
         g. Approving the investment and reduction to                  4. The voting mechanism is done by the polling method.




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 CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                           RESPONSIBILITY                           STATEMENTS 2023




                                 STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE



 5. Opportunity to propose an agenda in GMS.                         All Shareholders
 6. Opportunity to grant authority to another party if a             The shareholders’ responsibilities are as follows:
     shareholder is unable to attend the GMS.
 7. Reveal practices to encourage involvement of                     1. Distinguishing the ownership of the property of public
     Shareholders outside the GMS                                       company and personal property.
 8. To propose questions in every agenda discussion and              2. Distinguishing their functions as shareholders and
     every decision of GMS agenda.                                      members of Board of Commissioners or Board of
 9. Opportunity to vote as agree, disagree, or abstain in               Directors in the event that shareholders serve in one
     every proposal of decision of GMS agenda.                          of those organs.
 10. Right to obtain information regarding the company in            3. Shareholders who have particular interests are not
     manners that are on time, correct, and regular, except             allowed to vote.
     for matters that are confidential.                              4. Minority shareholders are responsible to exercise their
 11. Right to obtain part of the Company’s profit that is               rights effectively pursuant to the Articles of Association
     allocated for Shareholder in the form of dividend and              of the Company as well as the laws and regulations.
     another distribution of profit, which is proportional to
     the number of owned shares.                                     Policy of Relationship with Shareholders
 12. Right to obtain comprehensive description and                   As a Public Company, Bank Mandiri strives to provide
     accurate information regarding procedure that needs             accurate, periodic, and up-to-date information to
     to be executed in relation to the implementation of             Shareholders. Currently, communication activity to
     GMS.                                                            the Shareholders in Bank Mandiri is managed by the
                                                                     Corporate Secretary and Investor Relations. Pursuant
 Responsibilities of Shareholders                                    to Article 5 of POJK No. 35/POJK.04/2014 concerning
 In addition to the rights and authorities, Bank Mandiri             the Corporate Secretary of Issuers or Public Companies,
 Shareholders as the capital owners also have responsibilities       one of the functions of Corporate Secretary is as a liaison
 that must be fulfilled to the Company.                              between the Company and shareholders, OJK, and
                                                                     other stakeholders. The internal policy regulating the
 Controlling Shareholders                                            relationship between Bank Mandiri and Shareholders is the
 Their responsibilities are as follows:                              Policy and Standard Operating Procedure of Corporate
 1. Controlling shareholders must be able to:                        Secretary which, among others, regulates the Corporate
    a. Consider the interests of minority shareholders and           Communication Activity.
         stakeholders pursuant to the applicable conditions
         and laws and regulations;                                   Equal Treatment to Shareholders
    b. In the event of alleged violation to the laws and             Pursuant to the regulations of the Capital Market, Bank
         regulations or as requested by relevant authority,          Mandiri upholds equality principles for all shareholders
         names of shareholders and ultimate shareholders             (majority or minority). This commitment is reflected in the
         shall be disclosed to law enforcement authorities           internal regulations as stated in the Bank Mandiri Operations
         regarding the ultimate controlling shareholders, or         Policy and Standard Operating of Bank Mandiri Corporate
         as requested by relevant authority.                         Secretary that are periodically reviewed, regulating equal
                                                                     rights for all shareholders to attain information transparency
 2. As for controlling shareholders with shares in several           from Bank Mandiri, such as information on the company
    public companies, they have to be open with regard               performance, financial information, and other information
    to accountability and relationship between public                required by all shareholders.
    companies.
                                                                     Equal treatment to shareholders is also reflected in the
                                                                     implementation of the Company GMS. Each shareholder
                                                                     is entitled to propose the GMS agenda to the Company.




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            HIGHLIGHTS                   REPORT                         PROFILE                          AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS




              The General Meeting of Shareholders (GMS) is an organ of the
              Company that has authority not granted to the Board of Directors
              or the Board of Commissioners within the limits specified in the
              Limited Liability Company Law and/or the Company’s Articles of
              Association.




      The GMS is a forum for shareholders to exercise their rights   The Company’s GMS
      in expressing opinions and obtaining information related       The GMS consists of an Annual GMS (AGMS) and
      to the Company as long as it is related to the agenda          Extraordinary GMS (EGMS). AGMS must be held no later
      of the meeting and does not conflict with the interests        than the 6 (six) months after the closing of the Company’s
      of the Company and pay attention to the provisions             financial year, while EGMS can be held at any time as
      of the Company’s Articles of Association and laws and          required with due regard to the legislation and articles
      regulations.                                                   of association of the Company.

      The GMS also serves as a forum for shareholders to make        In addition to the implementation of the GMS as referred to
      resolutions related to their capital investments in the        in OJK Regulations regarding the plan and implementation
      Company. The GMS also functions as a forum for the Board       of the GMS of Public Companies, the Company can
      of Directors and the Board of Commissioners monitoring to      conduct the GMS electronically in accordance with the
      report their accountability for the corporate stewardship      laws and regulations in the Capital Market.
      performance in one financial year.
                                                                     Pursuant to Article 20 of the Articles of Association,
      Legal Basis of GMS Implementation                              the Company may conduct the GMS electronically
      Implementation of GMS in Bank Mandiri refers to the            (hereinafter referred to as “e-GMS”) by using the e-GMS
      following regulations:                                         provided by:
      1. Law No. 40 of 2007 concerning Limited Liability
           Company.                                                  1. Depository and Settlement Institution appointed by
      2. POJK No. 15/POJK.04/2020 concerning the Plan and               regulators in Capital Market;
           Implementation of General Meeting of Shareholders         2. Provider of e-GMS, namely the party that provides
           of a Public Company.                                         and manages the e-GMS; or
      3. POJK OJK No. 16/POJK.04/2020 concerning the                 3. Company; as specifically stipulated in the Capital
           Electronic Implementation of General Meeting of              Market regulations.
           Shareholders of a Public Company.




548   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE               ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE              & PRACTICES                        RESPONSIBILITY                           STATEMENTS 2023




                                                                  GENERAL MEETING OF SHAREHOLDERS




 The GMS Authorities                                            1. Shareholders, either alone or represented based on
 The GMS has authorities stipulated by law, including:             a proxy, are entitled to attend the GMS.
 1. Appoint and discharge members of the Board of               2. Shareholders who are entitled to attend the GMS
    Commissioners and/or the Board of Directors;                   are shareholders whose names are recorded in the
 2. Determine remuneration for the Board of Commissioners          Company’s Register of Shareholders 1 (one) working
    and the Board of Directors;                                    day prior to the GMS invitations.
 3. Evaluate performance of the Board of Commissioners          3. In the event of the second GMS and third GMS, the
    and the Board of Directors;                                    provisions for shareholders who are entitled to attend
 4. Ratify amendments to the Articles of Association.              are as follows:
 5. Approve the annual report;                                     a. for the second GMS, the shareholders who are
 6. Determine allocations of profits including dividend                entitled to attend are shareholders registered in
    distribution to shareholders;                                      the Company’s Register of Shareholders 1 (one)
 7. Appoint public accountant;                                         working day before the invitations of the second
 8. Approve corporate actions in relation to the                       GMS; and
    Company’s stewardship.                                         b. for the third GMS, the shareholders who are
                                                                       entitled to attend are shareholders registered in
 The GMS resolutions are made based on the Company’s                   the Company’s Register of Shareholders 1 (one)
 long-term business interests. GMS and/or shareholders                 working day prior to the invitations of the third GMS.
 cannot intervene the implementation of duties, functions       4. In the event of a recall, the shareholders who are
 and authorities of the Board of Commissioners and The             entitled to attend the GMS are shareholders whose
 Board of Directors notwithstanding GMS authorities in             names are recorded in the Company’s Register of
 accordance with the Articles of Association as well as            Shareholders 1 (one) working day prior to the GMS
 laws and regulations.                                             recall.
                                                                5. In the event that the invitations correction does not
 Rights of Shareholders in the GMS                                 result in a recall, the shareholders who are entitled to
 Pursuant to the Company’s Articles of Association, the            attend follow the shareholder provisions as referred
 following are the shareholders’ rights in the GMS:                to in letter b above.




                                   Process of GMS Implementation and Voting




                       Notification to                 GMS                               GMS
                             OJK                   Announcement                        Invitation




                                                   Announcement                       GMS
                       Submission of
                                                    of GMS Result                Implementation
                       GMS Minutes




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             HIGHLIGHTS                     REPORT                                   PROFILE                              AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS



      Quorum Provision                                                               quorum and requirement to make decision that are
      The quorum provisions regarding the attendance and                             determined by Financial Services Authority at the
      resolutions of GMS, in relation to matters that must be                        Company’s request.
      resolved, were executed as follows:                                        Decision Making Mechanisms
      1. The meeting is attended by shareholders who represent                   The decision-making mechanism in the meeting is
          more than 1/2 (one half) of the entire shares with valid               conducted by deliberation to reach consensus. But if
          voting rights, and resolutions are valid when agreed by                deliberation for consensus was not reached, then the
          more than 1/2 (one half) of the entire number of shares                decision making in the Meeting was conducted in a way
          with voting rights which were present in the Meeting,                  voting. Voting is carried out verbally with shareholders who
          unless the Law and/or Articles of Association of the                   vote disagree or abstain being asked to submit the sound
          Company determines a higher quorum.                                    card. Voting is conducted transparently, except for the
      2. In the event that presence quorum as specified                          agenda of the change of management that is carried
          is not achieved, the second GMS is valid and is                        out by closed voting.
          entitled to make binding resolutions when attended
          by shareholders who represent minimum 1/3 (one                         THE 2023 ANNUAL GMS
          third) of the entire shares with valid voting rights, and              AND ITS REALIZATION
          resolutions are valid when agreed by more than 1/2
          (one half) of the entire number of shares with voting                  In 2023, Bank Mandiri held the Annual General Meeting of
          rights which were present in the Meeting, unless the                   Shareholders (GMS) on 14 March 2023 at the Auditorium
          Law and/or Articles of Association of the Company                      of Plaza Mandiri, Jakarta.
          determines a higher quorum.
      3. In the event that attendance rate of the second GMS                     The stages of the 2023 GMS are illustrated in the following
          as specified is not achieved, the third GMS can be                     table.
          held under the condition that it is valid and is entitled
          to make decisions when attended by shareholders
          of shares with valid voting rights, within a presence


                                                              2023 AGMS Implementation
                                      Implementation
       No.          Activities                                                                   Information
                                           Date
      1      Notification of GMS to   12 January 2023 Submitted to OJK through a letter signed by the Board of Directors of Bank Mandiri No.
             OJK                                      CEO/4/2023 dated 12 January 2023 regarding the Implementation of the Annual General
                                                      Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk for the 2023 Financial Year.
      2      Announcement of GMS      3 February 2023   Conducted through information disclosure on:
             to Shareholders                            • Bank Mandiri Website.
                                                        • Indonesia Stock Exchange Website.
                                                        • Website of PT Kustodian Sentral Efek Indonesia
                                                        The proof of GMS announcement has been reported by the Company to the OJK and the
                                                        Indonesia Stock Exchange on the same day through Letter No. HBK.CSC/CMA.428/2023 dated 3
                                                        February 2023.
      3      GMS Invitation to        20 February       Conducted through information disclosure on:
             Shareholders             2023              • Bank Mandiri Website.
                                                        • Indonesia Stock Exchange Website.
                                                        • Website of PT Kustodian Sentral Efek Indonesia
                                                        The proof of GMS invitation has been reported by the Company to the OJK and the Indonesia
                                                        Stock Exchange on the same day through Letter No. HBK.CSC/CMA.629/2023 dated 20 February
                                                        2023.




550   PT Bank Mandiri (Persero) Tbk.
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 CORPORATE                         ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                        & PRACTICES                                RESPONSIBILITY                                     STATEMENTS 2023




                                                                                       GENERAL MEETING OF SHAREHOLDERS

                                                               2023 AGMS Implementation
                                        Implementation
  No.              Activities                                                                             Information
                                             Date
  4         Implementation of GMS       14 March 2023    The meeting was chaired by Mr. Muhamad Chatib Basri, as the President Commissioner/
                                                         Independent of the Company by virtue of the resolution of Meeting of the Board of
                                                         Commissioners of the Company of January 5, 2023.
                                                         The GMS implementation was attended by 10 members of the Board of Commissioners and 12
                                                         members of the Board of Directors.
                                                         Shareholders and/or Proxies of Shareholders who were both physically and electronically present
                                                         through the Electronic General Meeting System of eAsy.KSEI, represented the all 42,004,733,985
                                                         shares including Series A Dwiwarna Shares or constituted 90.0101443% of the total shares with
                                                         valid voting rights.
                                                         The Company provides GMS Rules of Conduct to all shareholders in the form of soft copies,
                                                         both at the time of the Invitations uploaded on the Company’s website and during the GMS
                                                         implementation which is available through barcode scans and the procedures are read before
                                                         the start of the GMS.
                                                         Shareholders are given the opportunity to ask questions in accordance with the agenda of the
                                                         Meeting in each agenda discussed in the Annual GMS.
                                                         Voting is conducted orally where the shareholder who casts a vote of disapproval or abstains is
                                                         asked to submit his or her ballot card. Especially for meetings involving a particular person, voting
                                                         is conducted by an unsigned closed letter and all shareholders present submit the ballot card.
  5         Announcement of GMS         16 March 2023    The results of the GMS have been announced and uploaded on:
            Results                                      • Bank Mandiri Website
                                                         • Indonesia Stock Exchange Website
                                                         • Website of PT Kustodian Sentral Efek Indonesia
                                                         in Indonesian and English.
                                                         The proof of GMS Result Announcement has been reported by the Company to the OJK and
                                                         the Indonesia Stock Exchange on the same day through Letter No. HBK.CSC/CMA.980/2023
                                                         dated 16 March 2023 and has been reported through the Electronic Reporting System of OJK
                                                         and the Indonesia Stock Exchange.
  6         Submission of GSM           12 April 2023    The submission of minutes of the GMS to OJK has given due observance to the time limit in
            Minutes                                      accordance with the provisions of POJK No. 15/POJK.04/2020 and submitted through Letter No.
                                                         HBK.CSC/CMA.1324/2022 dated 12 April 2023 and uploaded to the Bank Mandiri website on the
                                                         same day.



 Attendance Recapitulation at 2023 Annual GMS
 The 2023 Annual GMS attended by all the Board of Commissioners, Directors and Audit Committee of Bank Mandiri
 are as follows:

                                                   Attendance Recapitulation at the 2023 Annual GMS
      No.                        Name                                                          Position                                     Attendance
      1.     Darmawan Junaidi                            President Director                                                                    Present

      2.     Alexandra Askandar                          Vice President Director                                                               Present
      3.     Ahmad Siddik Badruddin                      Director of Risk Management                                                           Present
      4.     Agus Dwi Handaya                            Director of Compliance and HR                                                         Present
      5.     Panji Irawan                                Director of Treasury and International Banking                                        Present
      6.     Riduan                                      Director of Commercial Banking                                                        Present
      7.     Aquarius Rudianto                           Director of Network and Retail Banking                                                Present
      8.     Toni E. B. Subari                           Director of Operation                                                                 Present
      9.     Susana Indah K. Indriati                    Director of Corporate Banking                                                         Present
      10.    Rohan Hafas                                 Director of Institutional Relations                                                   Present
      11.    Sigit Prastowo                              Director of Finance and Strategy                                                      Present
      12.    Timothy Utama                               Director of Information Technology                                                    Present
      13.    Muhamad Chatib Basri                        President Commissioner/Independent                                                    Present
      14.    Andrinof A. Chaniago                        Vice President Commissioner/Independent                                               Present
      15.    Muliadi Rahardja                            Independent Commissioner                                                              Present
      16.    Boedi Armanto                               Independent Commissioner                                                              Present
      17.    Loeke Larasati Agoestina                    Independent Commissioner                                                              Present




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              HIGHLIGHTS                        REPORT                                    PROFILE                                  AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS

                                                    Attendance Recapitulation at the 2023 Annual GMS
        No.                      Name                                                        Position                                       Attendance
        18.    Rionald Silaban                              Commissioner                                                                       Present
        19.    Nawal Nely                                   Commissioner                                                                       Present
        20.    Arif Budimanta                               Commissioner                                                                       Present
        21.    Faried Utomo                                 Commissioner                                                                       Present
        22.    Muhammad Yusuf Ateh                          Commissioner                                                                       Present



      Meeting Agenda
      The Meeting was held with the Meeting Agenda as follows:

      Meeting Agenda 1        Approval of the Annual Report and Ratification of the Company’s Consolidated Financial Statements, Approval of the
                              Board of Commissioners’ Supervisory Tasks Report and Ratification of the Financial Statements of the Micro and Small Business
                              Funding Program (PUMK) for 2022 Financial Year, as well as the granting of a full release and discharge (volledig acquit et
                              de charge) to the Board of Directors for the management actions of the Company and the Board of Commissioners for the
                              supervisory actions of the Company that have been dedicated during 2022 Financial Year.
      Meeting Agenda 2        Approval for the use of the Company’s net profits for 2022 Financial Year.
      Meeting Agenda 3        Determination of remuneration (salary/honorarium, facilities, and benefits) in 2023 and Tantiem for 2022 Financial Year for the
                              Board of Directors and the Board of Commissioners of the Company.
      Meeting Agenda 4        Determination of Public Accountants (AP) and/or Public Accounting Firms (KAP) to audit the Company’s Consolidated
                              Financial Statements and Financial Statements of the Micro and Small Business Funding Program (PUMK) for the 2023 Financial
                              Year.
      Meeting Agenda 5        Approval of the Company’s Resolution Plan.
      Meeting Agenda 6        Approval of the Company’s Stock Split with ratio of 1:2 or from Rp250.00 (two hundred and fifty Rupiah) per share to become
                              IDR125.00 (one hundred twenty-five Rupiah) per share.
      Meeting Agenda 7        Approval of amendments to the Company’s Articles of Association.
      Meeting Agenda 8        Changes in the composition of the Company’s Board of Management.


      Question and Answer Session                                                     with the due regard to Article 28 of POJK No. 15/2020. In the
      In each Agenda of the Meeting, an opportunity was given                         event that deliberation for reaching a mutual consensus
      to the Shareholders and Proxies of the Shareholders of the                      is not reached, the decision shall be taken by voting,
      Company who were physically or electronically present to                        accordingly. The voting mechanism was performed in
      raise questions and/or opinions. In the First Agenda of the                     an open manner calculated from the votes legally cast
      Meeting, the Shareholders of Series A Dwiwarna through                          from the Meeting and through eASY.KSEI, except for the
      their proxies provided responses which were delivered                           Eighth Agenda of the Meeting, the voting was performed
      directly and there were 2 (two) questioners, but since                          with the unsigned closed voting ballots.
      the questions were not relevant, the questions were not
      read out. Furthermore, in the Second to Fourth Agenda                           Independent Party for Voting count
      of the Meeting, there were no Shareholders nor Proxy of                         The company has appointed an independent party, i.e.
      Shareholders raised questions and/or opinions. In the Fifth                     the Notary Utiek R. Abdurachman SH., MLI., MKn and PT
      Agenda of the Meeting, there was 1 (one) questioner but                         Datindo Entrycom for performing the votes count and/or
      since the question was not relevant, the question was not                       validation of their Shareholders or their proxies.
      read out and in the Sixth to Eighth Agenda of the Meeting,
      there were no Shareholders nor Proxy of Shareholders                            Meeting Resolutions
      raised questions and/or opinions.                                               Performance of the Meeting and each resolution of
                                                                                      each Meeting Agenda have been stated in the deed of
      Mechanism for Resolution Making                                                 “Minutes of the Annual General Meeting of Shareholders of
      That the resolutions-making mechanism in the Meeting                            the Limited Liability Company (Persero) of PT Bank Mandiri
      was performed by deliberation to reach a mutual                                 Tbk or abbreviated as PT Bank Mandiri (Persero) Tbk” dated
      consensus in accordance with Article 40 of the Financial                        14 March 2023 number 11, drawn up before the Notary
      Services Authority Regulation Number .15/2020 with due                          Utiek R. Abdurachman SH., MLI., MKn, that principally
      observance of Article 28 of POJK No.15/2020 concerning                          resolved the followings:
      Plan and Performance of the General Meeting of
      Shareholders of Public Companies (“POJK No. 15/2020”)




552   PT Bank Mandiri (Persero) Tbk.
Page 46
CORPORATE
 CORPORATE                      ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                            FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                              RESPONSIBILITY                                      STATEMENTS 2023




                                                                                  GENERAL MEETING OF SHAREHOLDERS


 RESOLUTIONS OF THE 2023 ANNUAL GMS
                                                                       Agenda 1
 Approval of the Annual Report and Ratification of the Company’s Consolidated Financial Statements, Approval of the Board of Commissioners’ Supervisory
 Tasks Report and Ratification of the Financial Statements of the Micro and Small Business Funding Program (PUMK) for 2022 Financial Year, as well as the
 granting of a full release and discharge (volledig acquit et de charge) to the Board of Directors for the management actions of the Company and the
 Board of Commissioners for the supervisory actions of the Company that have been dedicated during 2022 Financial Year.
 Voting Results
 Affirmative: 99,3199920% Including one Series A Dwiwarna Share
 Abstain: 0,6247232%
 Dissenting: 0,0552848%
 Resolutions
 In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
 majority votes of Shareholders who cast votes.
 Therefore:
 The meeting with the majority votes namely 41,981,511,760 shares or constituted 99.9447152% of the total votes cast in the Meeting have resolved:

 1. Approving the Company’s Annual Report including the Board of Commissioners’ Report on the Implementation of the Company’s Supervisory Tasks
    for the financial year ended on December 31st, 2022.
 2. Ratifying:
    a. The Company’s Consolidated Financial Statements for the Financial Year ended on December 31st, 2022 which have been audited by the Public
         Accounting Firm Tanudiredja, Wibisana, Rintis and Partners (a member firm of the PricewaterhouseCoopers Global network) in accordance with
         its report Number 00023/2.1025/AU.1/07/0229-2/1/I/2023 dated January 31, 2023, with a fair audit opinion in all material respects (unqualified
         opinion); and
    b. Financial Statements of the Micro and Small Business Funding Program (PUMK) for the Financial Year ended on December 31st, 2022 which have
         been audited by the Public Accounting Firm Tanudiredja, Wibisana, Rintis and Partners (a member firm of the PricewaterhouseCoopers Global
         network) in accordance with its report Number 00027/2.1025/AU.2/07/0229-2/1/I/2023 dated January 30th, 2023, with a fair audit opinion in all
         material respects (unqualified opinion).
 3. By the approval of the Company’s Annual Report and the Implementation of the Company’s Board of Commissioners Tasks Report for the Financial
    Year ended on December 31st, 2022, as well as the approval of the Company’s Consolidated Financial Statements for the Financial Year ended on
    December 31st, 2022 and the Financial Statements of the Micro and Small Business Funding Program (PUMK) for the Financial Year ended December
    31st, 2022, the General Meeting of Shareholders grants full a release and discharge (volledig acquit at de charge) to all members of the Board of
    Directors for the management of the Company and to the Board of Commissioners for the supervision of the Company that has been dedicated
    during 2022 Financial Year, to the extent that such actions do not constitute a criminal offense, and are reflected in the aforementioned reports.
 Follow-up
 The Financial Statements and Annual Reports have been submitted to the OJK and the Indonesia Stock Exchange with the following information:
 1. Submission of Financial Statements:
     The Financial Statements was also submitted through the OJK Electronic Reporting System and the Indonesia Stock Exchange.
 2. Submission of Annual Report:
     a. Submitted to the OJK through Letter No. HBK.CSC/CMA.628/2023 dated 20 February 2023 and the report is copied to the Indonesia Stock Exchange.
     b. The annual report was also submitted through the OJK Electronic Reporting System and the Indonesia Stock Exchange.



 Status : Realized




                                                                                                                              ANNUAL REPORT 2023            553
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             MAIN                                MANAGEMENT                                  COMPANY                                   MANAGEMENT DISCUSSION
             HIGHLIGHTS                          REPORT                                      PROFILE                                   AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS


                                                                              AGENDA 2
      Approval for the use of the Company’s net profits for 2022 Financial Year.
      Voting Results
      Affirmative: 99,6409688% Including one Series A Dwiwarna Share
      Abstain: 0,3590312%
      Dissenting: 0%
      3. Resolutions
      In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
      majority votes of Shareholders who cast votes.
      Therefore:
      The meeting with the unanimous votes namely 42,004,733,985 shares or constituting 100% of the total votes cast in the Meeting have resolved:
      Approved and determined the use of the consolidated Net Income attributed to the owner of the parent entity for 2022 Financial Year amounting to
      IDR41,170,637,183,351.00 (forty-one trillion one hundred seventy billion six hundred thirty-seven million one hundred eighty-three thousand three hundred
      fifty-one Rupiah) as follows:
      1. 60% of the Company’s Consolidated Net Income for 2022 Financial Year or IDR24,702,382,310,010.60 (twenty-four trillion seven hundred two billion
           three hundred eighty-two million three hundred ten thousand ten Rupiah and sixty cents) will be distributed as cash dividends to the Shareholders
           of the Company with the following provisions:
           a. special dividends for the Republic of Indonesia which is a Shareholder of the Company with 52% ownership of the Company’s issued and paid-
               up capital or amounting to IDR12,845,238,801,205.50 (twelve trillion eight hundred forty-five billion two hundred thirty-eight million eight hundred
               one thousand two hundred five Rupiah and fifty cents) will be credited into the State General Treasury Account.
           b. for the ownership of 48% public shares worth IDR11,857,143,508,805.10 (eleven trillion eight hundred fifty-seven billion one hundred forty-three
               million five hundred eight thousand eight hundred five Rupiah and ten cents) will be distributed to the Shareholders in accordance with their
               respective ownership portions.
           c. grant a power and authority to the Board of Directors of the Company with the right of substitution to determine the schedule and mechanism
               for the distribution of dividends for 2022 Financial Year in accordance with the applicable regulations.
      2. 40% or IDR16,468,254,873,340.40 (sixteen trillion four hundred sixty-eight billion two hundred fifty-four million eight hundred seventy-three thousand
           three hundred forty Rupiah and forty cents) shall be designated as the Retained Earnings.
      Follow-up
      Bank Mandiri has announced the Schedule and Procedure for the Distribution of Cash Dividends for Financial Year 2022 on 16 March 2023 and has
      paid cash dividends to shareholders on 12 April 2023.

      Status : Realized


                                                                              AGENDA 3
      Determination of remuneration (salary/honorarium, facilities and allowances) in 2023 and Tantiem Fiscal Year 2022 for the Board of Directors and Board
      of Commissioners of the Company.
      Voting result
      Affirmative: 93,9451294% Including one Series A Dwiwarna Share
      Abstain: 0,5604907%
      Dissenting: 5,4943799%
      Resolutions
      In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
      majority votes of Shareholders who cast votes.
      Therefore:
      The meeting with the majority votes namely 39,696,834,321 shares or constituting 94.5056201% of the total votes cast in the Meeting have resolved:
      1. Granted a power and authority to the Company’s Series A Dwiwarna Shareholder to determine the amount of tantiem (bonus) for 2022 Financial
          Year, as well as determine the honorarium, facilities and benefits for members of the Company’s Board of Commissioners for the Year 2023.
      2. Granted a power and authority to the Company’s Board of Commissioners with a prior written approval from the Company’s Series A Dwiwarna
          Shareholder to determine the amount of tantiem (bonus) for 2022 Financial Year, as well as determine the salary, facilities and benefits for members
          of the Company’s Board of Directors for the Year 2023.
      Follow-up
      Determination of salaries for the Board of Directors and honorarium for the Board of Commissioners, and allowances, facilities, and/or other benefits
      for 2023, as well as determination of bonuses for the performance of the Board of Directors and Board of Commissioners for the financial year ended
      31 December 2022 have been carried out by the Board of Commissioners with prior approval from the Ministry of SOEs.

      Status : Realized




554   PT Bank Mandiri (Persero) Tbk.
Page 48
CORPORATE
 CORPORATE                     ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                          FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                             RESPONSIBILITY                                    STATEMENTS 2023




                                                                               GENERAL MEETING OF SHAREHOLDERS


                                                                    AGENDA 4
 Determination of Public Accountants (AP) and/or Public Accounting Firms (KAP) to audit the Company’s Consolidated Financial Statements and
 Financial Statements of the Micro and Small Business Funding Program (PUMK) for the 2023 Financial Year.
 Voting Result
 Affirmative: 99.6392633% Including one Series A Dwiwarna Share
 Abstain: 0.3590385%
 Dissenting: 0.0016981%
 Resolutions
 In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
 majority votes of Shareholders who cast votes.
 Therefore:
 The meeting with the majority votes namely 42,004,020,685 shares or constituting 99.9983019% of the total votes cast in the Meeting have resolved:
 1. Appointed the Public Accountant Firm Tanudiredja, Wibisana, Rintis and Partners (a member firm of PricewaterhouseCoopers Global network) as
     the Public Accountant Firm and Lucy Luciana Suhenda as the Public Accountant who will audit the Company’s Consolidated Financial Statements
     and Financial Statements of the Company’s Micro and Small Business Funding Program (PUMK) for 2023 Financial Year.
 2. Granted a power of attorney to the Company’s Board of Commissioners to determine the honorarium and other requirements for the Public
     Accountant Firm, as well as to determine the substitute Public Accountant Firm and/or Public Accountant in the event that the Public Accounting
     Firm Tanudiredja, Wibisana, Rintis and Partners (member firm of PricewaterhouseCoopers Global network) and Lucy Luciana Suhenda as the Public
     Accountant, due to any reasons, will be unable to complete the audit of the Company’s Consolidated Financial Statements and the Financial
     Statements of the Micro and Small Business Funding Program for 2023 Financial Year.
 Follow-up
 The appointment of Public Accountant Firm Tanudiredja, Wibisana, Rintis and Partners (a member firm of PricewaterhouseCoopers Global network) as
 the Public Accountant Firm and Lucy Luciana Suhenda as the Public Accountant has been reported to OJK through Letter No. KES/254/2023 dated
 24 March 2023.

 Status: Realized


                                                                    AGENDA 5
 Approval of the Company’s Resolution Plan.
 Voting Result
 Affirmative: 99,6043763% Including one Series A Dwiwarna Share
 Abstain: 0,3956237%
 Dissenting: 0%
 Decisions
 In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
 majority votes of Shareholders who cast votes
 Therefore:
 The meeting with the unanimous votes namely 42,004,733,985 shares or constituting 100% of the total votes cast in the Meeting have resolved:
 Approve the Company’s Resolution Plan in order to comply with the provisions of the Deposit Insurance Corporation Regulation Number 1 of 2021
 concerning Resolution Plan for Commercial Banks.
 Follow-up
 The Minutes of the Annual General Meeting of Shareholders for Fiscal Year 2022 have been submitted to the Deposit Insurance Corporation (LPS) as
 evidence of shareholders’ approval at the general meeting of shareholders on the Preparation of the Company’s Resolution Plan.

 The preparation of the Company’s Resolution Plan has received approval from LPS which was submitted through LPS Letter No. S-50/DKRB/2023 dated 24
 March 2023 concerning Submission of Approval on the Results of the Resolution Plan Assessment and Resolvency Test and Recommendations to the Bank.

 Status : Realized




                                                                                                                          ANNUAL REPORT 2023           555
Page 49
             MAIN                              MANAGEMENT                                COMPANY                                  MANAGEMENT DISCUSSION
             HIGHLIGHTS                        REPORT                                    PROFILE                                  AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS


                                                                           AGENDA 6
      Approval of the Company’s Stock Split with ratio of 1:2 or from IDR250.00 (two hundred and fifty Rupiah) per share to become IDR125.00 (one hundred
      twenty-five Rupiah) per share.
      Voting Results
      Affirmative: 99.6409574% Including one Series A Dwiwarna Share
      Abstain: 0.3590328%
      Dissenting: 0.0000098%
      Decision
      In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
      majority votes of Shareholders who cast votes
      Therefore:
      The meeting with the majority votes namely 42,004,729,885 shares or constituting 99.9999902% of the total votes cast in the Meeting have resolved:
      1. Approved the implementation of the Company’s Stock Split with a ratio of 1:2 or from IDR250.00 (two hundred and fifty Rupiah) per share will become
          IDR125.00 (one hundred and twenty-five Rupiah) per share with the following provisions:
          a. Series A Dwiwarna shares into 2 (two) shares with nominal value as follows:
             i) 1 (one) Series A Dwiwarna share will be retained as the Series A Dwiwarna share owned by the Republic of Indonesia with a nominal value
                 of IDR125.00 (one hundred twenty-five Rupiah) per share; and
             ii) 1 (one) Series A Dwiwarna share will become 1 (one) Series B share owned by the Republic of Indonesia with a nominal value of IDR125.00
                 (one hundred twenty-five Rupiah) per share;
          b. Series B shares from IDR250.00 (two hundred fifty Rupiah) per share will become IDR125.00 (one hundred twenty-five Rupiah) per share;
      2. Approved to grant a power and authority to the Board of Directors of the Company with the right of substitution to take all necessary actions in
          implementing the Stock Split in accordance with the applicable laws and regulations, including but not limited to determining the procedures and
          schedule for the implementation of the Stock Split, restating the resolution regarding the Sixth Agenda in a Notarial Deed and submitting it to the
          competent authorities, as well as performing all actions as deemed necessary and useful for such purposes with no exemption.
      Follow-up
      Bank Mandiri has submitted a letter requesting the listing of shares from the stock split to the Indonesia Stock Exchange through Letter No. HBK. CSC/
      CMA.1013/2023 on 20 March 2023 regarding the Application for Additional Share Listing of PT Bank Mandiri (Persero) Tbk (the “Company”), PT Bursa
      Efek Indonesia has approved the listing application pursuant to Letter No. S-02587/IDX. PP1/03-2023 dated 28 March 2023 regarding the Approval of
      Stock Split. Thereby, as of 6 April 2023, the shares from the stock split have been listed on the Indonesia Stock Exchange.

      Status: Realized



                                                                           AGENDA 7
      Approval of amendments to the Company’s Articles of Association.
      Voting Results
      Affirmative: 83,1014191% Including one Series A Dwiwarna Share
      Abstain: 0,3649022%
      Dissenting: 16,5336786%
      Resolutions
      In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
      majority votes of Shareholders who cast votes
      Therefore:
      The meeting with the majority votes namely 35,059,806,251 shares or constituting 83.4663214% of the total votes cast in the Meeting have resolved:
      1. Approved the amendment to Article 4 of the Company’s Articles of Association in relation to the Company’s Stock Split.
      2. Approved the amendment to Article 3 of the Company’s Articles of Association in connection with the adjustment to the Indonesian Standard
          Industrial Classification (KBLI) 2020.
      3. Granted a power and authority to the Board of Directors with the right of substitution to take all necessary actions related to the resolutions of
          the Seventh Agenda of the Meeting, including but not limited to preparing and restating the entire Articles of Association of the Company in a
          Notarial Deed and submitting it to the competent authorities to obtain approval and/or receipt of notification of the amendment to the Articles of
          Association of the Company, perform all actions everything as deemed necessary and useful for such purposes with none of them being excluded.
      Follow-up
      The amendments to the Company’s Articles of Association have been reported to OJK through Letter No. HBK.CSC/CMA.1031/2023 dated 21 March
      2023 and Indonesia Stock Exchange through Letter No. HBK.CSC/CMA.1003/2023 dated 17 March 2023.

      Status: Realized




556   PT Bank Mandiri (Persero) Tbk.
Page 50
CORPORATE
 CORPORATE                      ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                                     STATEMENTS 2023




                                                                                   GENERAL MEETING OF SHAREHOLDERS


                                                                       AGENDA 8
 Changes in the composition of the Company’s Board of Management.
 Voting Results
 Affirmative: 73.5487457% Including one Series A Dwiwarna Share
 Abstain: 1.7759612%
 Dissenting: 24.6752932%
 Resolutions
 In accordance with the provisions of the Meeting Rules, Shareholders who do not vote (abstain) are considered to have cast the same votes as the
 majority votes of Shareholders who cast votes
 Therefore:
 The meeting with the majority votes namely 31,639,942,737 shares or constituting 75.3247068% of the total votes cast in the Meeting have resolved:
 1. Honorably dismiss the following names as the Company’s Board of Management:
     a. Mrs. Alexandra Askandar as the Vice President Director;
     b. Mr. Panji Irawan as the Treasury and International Banking Director;
     c. Mr. Agus Dwi Handaya as the Compliance and Human Resources Director;
     d. Mr. Riduan as the Commercial Banking Director;
     e. Mr. Boedi Armanto as the Independent Commissioner;
     each of them was appointed based on the Resolution of the 2017 Financial Year GMS dated March 21, 2018 in conjunction with the Extraordinary
     General Meeting of Shareholders (EGMS) 2019 dated December 9, 2019 in conjunction with 2020 EGMS dated October 21, 2020. Resolution of
     the 2017 Financial Year GMS dated March 21, 2018 in conjunction with 2019 EGMS dated December 9, 2019 in conjunction with GMS of Financial
     year 2018 dated May 16, 2019 in conjunction with 2019 EGMS dated December 9, 2019 in conjunction with 2020 EGMS dated October 21, 2020,
     Resolution of the 2017 Financial Year GMS dated March 21, 2018 in conjunction with GMS of Financial year 2018 dated May 16, 2019, Resolution of
     EGMS of 2019 dated January 7, 2019, and the Resolution of the Annual GMS of the Financial Year 2019 dated February 19, 2020, as of the closing of
     the GMS, with gratitude for the contribution of their energy and thoughts dedicated during their tenures as the Company’s Board of Management.
 2. Appointed the names mentioned below as the Company’s Board of Management:
    a. Mrs. Alexandra Askandar as the Vice President Director;
    b. Mrs. Eka Fitria as the Treasury and International Banking Director;
    c. Mr. Agus Dwi Handaya as the Compliance and Human Resources Director;
    d. Mr. Riduan as the Commercial Banking Director;
    e. Mr. Heru Kristiyana as the Independent Commissioner;
    f. Mr. Zainudin Amali as the Independent Commissioner;
 3. The term of office of the appointed members of the Board of Directors and the Board of Commissioners as referred to in point 2, shall be in accordance
    with the provisions of the Articles of Association of the Company, with due observance of the laws and regulations in the Capital Market sector and
    without prejudice to the right of the GMS to dismiss them at any time.
 4. By the dismissal and appointment of members of the Board of Directors and the Board of Commissioners of the Company as referred to in point 1
    and point 2, the composition of the members of the Board of Directors and Board of Commissioners of the Company shall be as follows:
    a. Board of Directors
        • President Director                            : Darmawan Junaidi;
        • Vice President Director                       : Alexandra Askandar;
        • Corporate Banking Director                    : Susana Indah Kris Indriati;
        • Commercial Banking Director                   : Riduan;
        • Treasury and International Banking Director   : Eka Fitria;
        • Network and Retail Banking Director           : Aquarius Rudianto;
        • Operation Director                            : Toni Eko Boy Subari;
        • Compliance and Human Resources Director : Agus Dwi Handaya;
        • Institutional Relations Director              : Rohan Hafas;
        • Risk Management Director                      : Ahmad Siddik Badruddin;
        • Information Technology Director               : Timothy Utama;
        • Finance and Strategy Director                 : Sigit Prastowo.

    b. Board of Commissioners
       • President Commissioner/Independent                : Muhamad Chatib Basri;
       • Vice President Commissioner/ Independent          : Andrinof A. Chaniago;
       • Commissioner                                      : Rionald Silaban;
       • Commissioner                                       Nawal Nely;
       • Commissioner                                       Arif Budimanta;
       • Commissioner                                       Faried Utomo;
       • Commissioner                                       Muhammad Yusuf Ateh;
       • Independent Commissioner                          : Heru Kristiyana;
       • Independent Commissioner                          : Loeke Larasati Agoestina;
       • Independent Commissioner                          : Muliadi Rahardja;
       • Independent Commissioner                          : Zainudin Amali.




                                                                                                                               ANNUAL REPORT 2023            557
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             MAIN                               MANAGEMENT                                  COMPANY                                   MANAGEMENT DISCUSSION
             HIGHLIGHTS                         REPORT                                      PROFILE                                   AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS

                                                                             AGENDA 8
      5. The new appointed members of the Board of Directors and Board of Commissioners as referred to in point 2 may only commence performing their
         tasks after obtaining approval from the Financial Services Authority (OJK) for the Fit and Proper Test and complying with the applicable laws and
         regulations. In the event that the members of the Board of Directors and the Board of Commissioners of the Company, in fact, are not approved
         as members of the Board of Directors and the Board of Commissioners in the Fit and Proper Test by the OJK, the members of the Board of Directors
         and the Board of Commissioners of the Company shall be honorably dismissed from the date of the decision of the OJK Fit and Proper Test results.
      6. Members of the Board of Directors and the Board of Commissioners appointed as referred to in point 2 who are still serving in other positions that
         are prohibited by laws and regulations to be concurrently held by members of the Board of Directors or the Board of Commissioners of the State-
         Owned Enterprises, the concerned person must resign or be dismissed from his/her position.
      7. Requested the Board of Directors to submit a written request to the OJK for the implementation of the Fit and Proper Test for the new appointed
         members of the Board of Directors and the Board of Commissioners as referred to in point 2.
      8. Granted a power of attorney with the rights of substitution to the Board of Directors of the Company to restate the resolutions of this GMS in a Notarial
         deed and to appear before a Notary or the authorized official, and to make necessary adjustments or rectifications if required by the competent
         authorities for the purposes of implementing the resolutions of the meeting.
      Follow-up
      1. Mr. Heru Kristiyana has obtained OJK approval of the Fit and Proper Test assessment as stated in the copy of OJK Board of Commissioners Decree
          No. KEPR-98/D.03/2023 dated 21 August 2023 and OJK Letter No. SR-163/PB.02/2023 dated 21 August 2023, and his appointment as Independent
          Commissioner is effective as of 21 August 2023 as stated in Bank Mandiri Letter No. KPS/1181/2023 dated 24 August 2023.
      2. Mr. Zainudin Amali has obtained OJK’s approval of the Fit and Proper Test assessment as stated in the copy of OJK Board of Commissioners
          Decree No. KEPR-139/D.03/2023 dated 06 November 2023 and OJK Letter No. SR-250/PB.02/2023 dated 06 November 2023, and his appointment
          as Independent Commissioner is effective as of 06 November 2023 as stated in Bank Mandiri Letter No. KPS/1428/2023 dated 08 November 2023.
      3. Ms. Eka Fitria has obtained OJK’s approval of the Fit and Proper Test assessment as stated in the copy of OJK Board of Commissioners Decree No.
          KEPR-97/D.03/2023 dated 21 August 2023 and OJK Letter No. SR-163/PB.02/2023 dated 21 August 2023, and her appointment as Independent
          Commissioner is effective as of 21 August 2023 as stated in Bank Mandiri Letter No. KPS/1181/2023 dated 24 August 2023.
      4. The Board of Directors of Bank Mandiri has taken all necessary actions related to the decisions of this agenda in accordance with the applicable
          laws and regulations.

      Status : Terealisasi




      IMPLEMENTATION OF PREVIOUS YEAR ANNUAL GMS AND REALIZATIONS

      In 2022, Bank Mandiri held 1 (one) GMS, the Annual GMS, which was held on 10 March 2022, at the Plaza Mandiri
      Auditorium, Jakarta. The Annual GMS was carried out with the following results and realizations:

      RESOLUTIONS OF THE 2022 ANNUAL GMS
                                                                      The First Meeting Agenda
      Approval on the Annual Report and Ratification of the Company’s Consolidated Financial Statements, Approval on the Board of Commissioners’
      Supervisory Report and Ratification of the Annual Financial Statements and Implementation of the Company’s Social and Environmental
      Responsibility Program for the fiscal year ended on 31 December 2021, as well as the granting of a full release and discharge (volledig acquit et de
      charge) ) to the Board of Directors for the management actions of the Company and the Board of Commissioners for the Company’s supervisory
      actions that have been performed during the Fiscal Year 2021.
      The Minutes of Meeting stated a Dwiwarna Series A shareholder gave response and there was 1 (one) question.
      Voting Results
      Agree: 98.0527965% including one share of Dwiwarna Series A Shares
      Abstain: 0.0513776%
      Disagree: 1.8958259%
      Decision
      Therefore:
      1. The meeting with the majority votes namely 39,694,198,687 shares or constituting 98.1041741% of the total votes cast in the Meeting have resolved:
         Approved the Annual Report of the Company including the Supervisory Report of Board of Commissioners of the Company for the fiscal year
         ended on 31 December 2021.
      2. Ratifying:
         a. Financial Statements of the Company for the fiscal year ended on December 31, 2021 audited by Public Accountants Firm of Tanudiredja,
              Wibisana, Rintis& Partners Rekan (a member firm of the Global PricewaterhouseCoopers network) according to its report No. 00042/2.1025/
              AU.1/07/0229- 1/1/I/2022 dated January 27, 2022, with the unqualified opinion in all material respects.
         b. Annual Financial Statements and Implementation of Social and Environmental Responsibility Program for the fiscal year ended on December 31,
              2021 audited by Public Accountants Firm of Tanudiredja, Wibisana, Rintis & Partners Rekan (a member firm of the global PricewaterhouseCoopers
              network) according to its report No. 00052/2.1025/AU.2/11/0229-1/1/I/2022 dated January 28, 2022, with the unqualified opinion in all material
              respects.
      3. Upon approval on the Annual Report of the Company including the Supervisory Actions Report performed by Board of Commissioners, as well as
         ratification on the Financial Statements of the Company and the Annual Financial Statements and Implementation of Social and Environmental
         Responsibility Program for the fiscal year ended on December 31, 2021, the GMS shall grant a full release and discharge (volledig acquit et de
         charge)) to all members of the Board of Directors for the management actions of the Company and the Board of Commissioners for the supervisory
         actions of the Company that have been performed during the Fiscal Year 2021, to the extant such actions are not criminal acts, and are reflected
         in the reports mentioned above.




558   PT Bank Mandiri (Persero) Tbk.
Page 52
CORPORATE
 CORPORATE                      ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                                     STATEMENTS 2023




                                                                                  GENERAL MEETING OF SHAREHOLDERS

                                                               The First Meeting Agenda
 Follow-up
 The Financial Statements and Annual Reports have been submitted to the FSA and the Indonesia Stock Exchange with the following information:
 1. Submission of Financial Statements:
     The Financial Statements was also submitted through the OJK Electronic Reporting System and the Indonesia Stock Exchange.
 2. Submission of Annual Report:
     a. Submitted to the OJK through Letter No. HBK.CSC/CMA.295/2022 dated 16 February 2022 and the report is copied to the Indonesia Stock Exchange.
     b. The annual report was also submitted through the OJK Electronic Reporting System and the Indonesia Stock Exchange.

 Status : Realized



                                                             The Second Meeting Agenda
 Approval on the use of the Company’s net profits for Fiscal Year 2021.
 The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
 Voting Result
 Agree         : 97.5818916% including one share of Dwiwarna Series A Shares
 Abstain       : 0.0958159%
 Disagree      : 2.3222925%
 Decisions
 Therefore:
 The meeting with the majority votes namely 39,521,644,855 shares or constituting 97.6777075% of the total votes cast in the Meeting have resolved:
 Approved and determined the utilization of Net Profit of the Company for the Fiscal Year ended on 31 December 2021amounting to
 Rp28,028,155,247,474 (twenty-eight trillion twenty-eight billion one hundred fifty-five million two hundred forty-seven thousand four hundred seventy-
 four Rupiah) as follows:
 1. 60% of the net profit of the Company for the Fiscal Year ended on 31 December 2021or Rp16,816,893,148,484.40 (sixteen trillion eight hundred
     sixteen billion eight hundred ninety three million one hundred forty eight thousand four hundred eighty four Rupiah and forty cents) will be
     distributed as cash dividends to shareholders and special dividends to the Government/State of the Republic of Indonesia for the ownership
     of 52% shares in the amount of Rp8,751,423,016,698.88 (eight trillion seven hundred fifty one billion four hundred twenty three million sixteen
     thousand six hundred ninety eight Rupiah and eighty eight cents) will be credited to the State Treasury General Account. Conferring the power
     of attorney and authority to Board of Directors of the Company to arrange mechanism and realization of the cash dividend payment and
     further making announcement in accordance with the applicable regulations.
     Provide power and authority to the Board of Directors of the Company to regulate the procedures and implementation of the cash dividend
     payment and subsequently announce in accordance with applicable regulations.
 2. 40% or Rp11,211,262,098,989.60 (eleven trillion two hundred eleven billion two hundred sixty-two million ninety-eight thousand nine hundred
     ninety-nine Rupiah and sixty cents) will be determined as the Retained Earnings.
 Follow-up
 Bank Mandiri has announced the Schedule and Procedure for the Distribution of Cash Dividends for Financial Year 2021 on 14 March 2022 and has
 paid cash dividends to shareholders on 6 April 2022.

 Status : Realized


                                                              The Third Meeting Agenda
 Determination of remuneration (salary/honorarium, facilities and allowances) in 2022 and Tantiem Fiscal Year 2021 for the Board of Directors and
 Board of Commissioners of the Company.
 The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
 Voting result
 Agree: 94.4040145% Including one share of Dwiwarna Series A Shares
 Abstain: 0.1706709%
 Disagree: 5.4253146%
 Decisions
 Therefore:
 The meeting with the majority votes namely 38,266,122,581 shares or constituting 94.5746854% of the total votes cast in the Meeting have resolved:
 1. Delegated the authority and power to the Shareholder of Series A Dwiwarna Shares of the Company to specify the amount of tantiem (bonus)
    for the fiscal year ended on December 31, 2021 as well as honorarium, facilities and allowances for members of the Board of Commissioners of
    the Company for the year 2022.
 2. Delegated the authority and power to the Board of Commissioners of the Company subject to the prior written approval from the Shareholder
    of Series A Dwiwarna Shares to specify the amount of tantiem (bonus) for the fiscal year ended on December 31, 2021, as well as salary, facilities
    and allowances for the members of the Board of Directors of the Company for the year 2022.
 Follow-up
 The determination of the salaries of the Board of Directors and the honorarium of the Board of Commissioners, and the provision of allowances,
 facilities, and/or other benefits for the 2021 financial year, as well as the determination of bonuses for the performance of the Board of Directors and
 the Board of Commissioners for the financial year ending on December 31, 2020 have been carried out by the Board of Directors. Commissioner with
 prior approval from the Ministry of SOEs.

 Status : Realized




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             HIGHLIGHTS                        REPORT                                    PROFILE                                 AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS



                                                                  The Fourth Meeting Agenda
      Appointment of a Public Accounting Firm (PAF) to audit the Company’s Consolidated Financial Statements and the Annual Financial Statements and
      the Implementation of Social and Environmental Responsibility Programs Reports for fiscal year 2022.
      The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
      Voting Result
      Agree: 97.28629% Including one share of Dwiwarna Series A Share
      Abstain: 1.193752%
      Disagree: 1.519956%
      Decision
      Therefore:
      The meeting with the majority votes namely 39,846,280,527 shares or constituting 98.4800442% of the total votes cast in the Meeting have resolved:
      1.
         a. Assigned the Public Accountant Firm of Public Accountants Firm of Tanudiredja, Wibisana, Rintis& Partners Rekan (a member firm of the global
             PricewaterhouseCoopers network) as the public accountant firm for auditing the Consolidated Financial Statements of the Company (covering
             the Annual Financial Report and Implementation of the Company’s Social and Environmental Responsibility Programs), Financial Reports and
             Implementation of the Micro and Small Business Funding Program (PUMK) and other reports for the 2022 Fiscal Year.
         b. Granted authority and power to the Board of Commissioners of the Company to appoint a Public Accounting Firm to audit the Company’s
             Financial Statements for other periods in the 2022 Fiscal Year for the purposes and interests of the Company.
      2. Delegated the power to the Board of Commissioners of the Company to specify the amount of honorarium and other requirements for the Public
         Accountants Firm, as well as the appointment of the substitute Public Accountant Firm in case of the Public Accountants Firm of Tanudiredja,
         Wibisana, Rintis and Partners (a member firm of the global PricewaterhouseCoopers network) , due to any reasons, whatsoever, fails in accomplishing
         the audit of the Consolidated Financial Statements of the Company (covering the Annual Financial Report and Implementation of the Company’s
         Social and Environmental Responsibility Programs), Financial Reports and Implementation of the Micro and Small Business Funding Program (PUMK)
         and other reports for the 2022 Fiscal Year.
      Follow-up
      The appointment of the Public Accounting Firm of Tanudiredja, Wibisana, Rintis and Rekan (PricewaterhouseCoopers International Limited) has been
      reported to OJK through Letter No. KES/203/2022 dated 22 March 2022.

      Status: Realized



                                                                   The Fifth Meeting Agenda
      Confirmation on Implementation of the Regulation of the Minister of SOEs No. PER-05/MBU/04/2021 dated 8 April 2021 on the Social and Environmental
      Responsibility Program of the State-Owned Enterprises.
      The Minutes of Meeting stated that the Fifth Agenda of the Meeting was reporting only, therefore there was no question-and-answer session.
      Voting Result
      Agree: 99.3189839% Including one share of Dwiwarna Series A Share
      Abstain: 0.0912332%
      Disagree: 0.5897829%
      Decisions
      Therefore:
      The meeting with the majority votes namely 40,222,640,348 shares or constituting 99.4102171% of the total votes cast in the Meeting have resolved:
      Confirming the enforcement of the Regulation of the Minister of State-Owned Enterprise of the Republic of Indonesia No. PER-05/MBU/04/2021 dated
      8 April 2021 regarding Social and Environmental Responsibility Program
      Follow-up
      With the approval of the ratification of the Minister of SOEs Regulation No. PER-05/MBU/04/2021 dated 8 April 2021 on the Social and Environmental
      Responsibility Program of State-Owned Enterprises, the implementation of the Bank Mandiri Social and Environmental Responsibility Program refers to
      the Regulation of the Minister of SOEs.

      Status : Realized




560   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                      ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                                     STATEMENTS 2023




                                                                                  GENERAL MEETING OF SHAREHOLDERS


                                                               The Sixth Meeting Agenda
 Confirmation on Implementation of the Regulation of the Minister of SOEs No. PER-11/MBU/07/2021 dated July 30, 2021 concerning Requirements,
 Procedures for Appointment, and Dismissal of Members of the Board of Directors of State-Owned Enterprises.
 The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
 Voting Results
 Agree: 88.9700295% Including one share of Dwiwarna Series A Share
 Abstain: 0.2459206%
 Disagree: 10.7840498%
 Decision
 Therefore:
 The meeting with the majority votes namely 36,097,910,054 shares or constituting 89.2159502%of the total votes cast in the Meeting have resolved:
 Confirmed the enforcement of the Regulation of the Minister of State-Owned Enterprise of the Republic of Indonesia No. PER-11/MBU/07/2021 dated
 30 July 2021 regarding Requirements, Procedures for Appointment, and Dismissal of Members of the Board of Directors of State-Owned Enterprise along
 with the changes.
 Follow-up
 With the approval of the ratification of the Minister of SOEs Regulation No. PER-11/MBU/07/2021 dated 30 July 2021 on the Requirements, Procedures for
 the Appointment, and Dismissal of Members of the Board of Directors of State-Owned Enterprises, the implementation of procedures for the appointment,
 and termination of members of the Board of Directors of Bank Mandiri refers to the Regulation of the Minister of SOEs.

 Status : Terealisasi



                                                             The Seventh Meeting Agenda
 Approval on the Transfer of Shares of the Buyback-Shares held as the Treasury Stock.
 The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
 Voting Results
 Agree: 75.2911571% Including one share of Dwiwarna Series A Share
 Abstain: 0.8237754%
 Disagree: 23.8850675%


 Decision
 Therefore:
 The meeting with the majority votes namely 30,797,071,409 shares or constituting 76.1149325% of the total votes cast in the Meeting have resolved:
 1. Approved the Transfer of Shares of the Repurchased-Shares (Buyback) held as the Treasury Stock totaling 35,400,000 (thirty-five million four hundred
    thousand) shares in the context of implementation of Employees Share Ownership Program.
 2. Approved to delegate power and authority to the Company’s Board of Directors to determine the Employees Share Ownership Program.


 Follow-up
 The process of transferring shares from the buyback has been fully completed on 15 June 2022, the Company has made an information disclosure to
 shareholders in accordance with Letter No. HBK. CSC/CMA.1513/2022 dated 17 June 2022.

 Status: Realized



                                                              The Eighth Meeting Agenda
 Changes in the Company’s Board of Management
 The Minutes of Meeting stated there was no question and/or response from shareholders and proxies of shareholder.
 Voting Results
 Agree: 84.0649390% Including one Dwiwarna Series A Share
 Abstain: 1.8403107%
 Disagree: 14.0947504%
 Decision
 Therefore:
 The meeting with the majority votes namely 34,758,358,444 shares or constituting 85.9052496% of the total votes cast in the Meeting have resolved:
 1. Honorably dismiss the following names as members of the Board of Management of the Company:
    a. Mr. Mohamad Nasir as the Independent Commissioner;
    b. Mr. Darmawan Junaidi as the President Director;
        who were appointed respectively pursuant to Resolutions of the Extraordinary Meeting of Shareholders (“GMS”) of the Year 2019 and Extraordinary
        Meeting of Shareholders of the Year 2017, effective as of the closing of the GMS, with gratitude for the contribution of their spirit and thoughts
        during their tenure as the members of the Board of Management of the Company.
 2. Appointing the following names as the members of the Board of Management of the Company:
    a. Mr. Muliadi Rahardja as the Independent Commissioner;
    b. Mr. Darmawan Junaidi as the President Director.
 3. Tenure of members of the Board of Commissioners and the Board of Directors appointed as referred to at point 2, are in compliance with provisions
    of the Articles of Association of the Company, by considering Capital Market laws and regulations and without prejudice to the rights of the GMS
    to dismiss them at any time.
 4. On such dismissal and appointment of the members of the Board of Management of the Company as referred to at points 1 and 2, therefore the
    composition of the Management of the Company becomes as follows:




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             HIGHLIGHTS                        REPORT                                      PROFILE                               AND ANALYSIS




      GENERAL MEETING OF SHAREHOLDERS



                                                                  The Eighth Meeting Agenda
         a. Board of Commissioners:
            • President Commissioner/ Independent              : Muhamad Chatib Basri
            • Vice President Commissioner/ Independent         : Andrinof A. Chaniago
            • Commissioner                                     : Rionald Silaban
            • Commissioner                                     : Nawal Nely
            • Commissioner                                     : Arif Budimanta
            • Commissioner                                     : Faried Utomo
            • Commissioner                                     : Muhammad Yusuf Ateh
            • Independent Commissioner                         : Boedi Armanto
            • Independent Commissioner                         : Loeke Larasati Agoestina
            • Independent Commissioner                         : Muliadi Rahardja

         b. Board of Directors
            • President Director                               : Darmawan Junaidi
            • Vice President Director                          : Alexandra Askandar
            • Corporate Banking Director                       : Susana Indah Kris Indiarti Indiarti
            • Commercial Banking Director                      : Riduan
            • Treasury and International Banking Director      : Panji Irawan
            • Network and Retail Banking Director              : Aquarius Rudianto
            • Operation Director                               : Toni E. B. Subari
            • Compliance and HR Director                       : Agus Dwi Handaya
            • Institutional Relations Director                 : Rohan Hafas
            • Risk Management Director                         : Ahmad Siddik Badruddin
            • Information Technology Director                  : Timothy Utama
            • Finance and Strategy Director                    : Sigit Prastowo
      5. The appointed member of the Board of Commissioners as referred to at point 2 may only perform their duties after obtaining the prior approval
         from the Financial Services Authority (OJK) for the Fit and Proper Test and complying with the applicable laws and regulations. In the event that a
         member of the Board of Commissioners of the Company is later declared being disqualified as a member of the Board of Commissioners in the Fit
         and Proper Test by the OJK, then such member of the Board of Commissioners of the Company shall be honorably dismissed from the date of the
         decision on the results of the OJK Fit and Proper Test.
      6. The appointed member of the Board of Commissioners referred to at point 2 who are still holding other positions that are prohibited by laws and
         regulations from concurrently serving as members of the Board of Commissioners of State-Owned Enterprises must resign or be dismissed from their
         positions.
      7. Requested to Board of Directors to submit the written application to Financial Services Authority for the performance of Fit and Proper Test to the
         appointed members of Board of Commissioners as referred to at point 2.
      8. Delegated a power of attorney with substitution rights to the Board of Directors of the Company to restate the resolutions taken in this GMS in
         a notarial deed and appear before the Notary or authorized official, and prepare the necessary adjustments or corrections as required by the
         competent authority for the purposes of implementation of contents of the Meeting resolutions.
      Follow-up
      1. Mr. Muliadi Rahardja has obtained OJK approval regarding the fit and proper test as stated in the Decree of the OJK Board of Commissioners No.
          40/KDK.03/2022 dated 22 June 2022 and OJK Letter No. SR-119/PB.12/2022 dated 23 June 2022, and his appointment as Independent Commissioner
          was declared effective as of 22 June 2022 as stated in Bank Mandiri Letter No. KPS/1703/2022 on 27 June 2022.
      2. The Board of Directors of Bank Mandiri has taken all necessary actions related to the decisions of this agenda in accordance with the applicable
          laws and regulations.

      Status : Realized




562   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                  ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                         STATEMENTS 2023




                                             BOARD OF COMMISSIONERS




         The Board of Commissioners is responsible for overseeing
         management policies and the Board of Directors’ overall course
         of management with regard to the Company and its business. The
         Board of Commissioners provides advice to the Board of Directors,
         including monitoring the execution of the Company’s Long-Term
         Plan, Work Plan, and Budget, in accordance with the provisions
         of the Articles of Association and resolutions of the GMS, and laws
         and regulations.




 Members of the Board of Commissioners are appointed                  APPOINTMENT BASIS
 and terminated by the GMS and is responsible to                      All members of the Board of Commissioners have passed
 Shareholders for overseeing the Board of Directors’ policy           the fit and proper tests and have obtained approval from
 regarding the general management of the Company.                     the OJK, indicating that each member of the Board of
                                                                      Commissioners has adequate integrity, competence and
 In the execution of its duties and authorities, the Board            financial reputation in accordance with OJK Regulation
 of Commissioners must adhere to prudential banking                   No. 27/POJK.03/2016 concerning Capability and
 principles, codes of professional ethics and codes of                Compliance Assessment for The Main Party of Financial
 conduct, national and international banking conventions,             Services Institution that prospective members of the Board
 and laws and regulations governing the banking industry,             of Commissioners must obtain approval from the OJK
 as well as the principles of good corporate governance               prior to carrying out its actions, duties and functions as
                                                                      the Board of Commissioners.
 Every member of the Board of Commissioners shall have
 high integrity, knowledge, capability, and commitment                BOARD OF COMMISSIONERS
 in providing time to perform the duties. To that end,                COMPOSITION
 the composition of the Board of Commissioners of the                 In 2023, the composition of members of the Company’s
 Company shall enable effective, accurate, and prompt                 Board of Commissioners underwent changes as explained
 decision-making. Moreover, the Board of Commissioners                below
 shall also act independently, no conflict of interest that can
 disrupt the ability to perform the duties independently and
 critically, both in internal relationship and in relationship
 with the Board of Directors.




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              HIGHLIGHTS                                  REPORT                                      PROFILE                              AND ANALYSIS




      BOARD OF COMMISSIONERS



      The resolution of Annual GMS dated 14 March 2023, hereby agreed upon to:
      1. Honorably dismissed Mr. Boedi Armanto as Independent Commissioner.
      2. Appointed Mr. Heru Kristiyana and Mr. Zainudin Amali, both as Independent Commissioner.

      The composition of the Board of Commissioners following the Annual GMS dated 14 March 2023 became 11 (eleven)
      members, which consisted of 1 (one) President Commissioner/Independent, 1 (one) Vice President Commissioner/
      Independent, 4 (four) Independent Commissioners, and 5 (five) Commissioners. All members of the Board of Commissioners
      are domiciled at the working areas of Bank Mandiri Head Office.

                                          Composition and Appointment Basis of the Company’s Board of Commissioners
                  Name                                 Position                           Basis of Appointment             Effective Date           Period
      Muhamad Chatib Basri               President Commissioner/                 Extra ordinary GMS dated 9 December        29 May 2020           2019 - 2024
                                         Independent                             2019
      Andrinof A. Chaniago               Vice President Commissioner/ Annual GMS dated 19 February 2020                     23 June 2020           2020-2025
                                         Independent
      Boedi Armanto*)                    Independent Commissioner                Annual GMS dated 19 February 2020           3 July 2020          2020 - 2023
      Loeke Larasati Agoestina           Independent Commissioner                Annual GMS dated 19 February 2020        2 September 2020        2020 - 2025
      Muliadi Rahardja                   Independent Commissioner                Annual GMS dated 10 March 2022             22 June 2022          2022 - 2027
      Heru Kristiyana**)                 Independent Commissioner                Annual GMS dated 14 March 2023            21 August 2023         2023 - 2028
      Zainudin Amali**)                  Independent Commissioner                Annual GMS dated 14 March 2023           6 November 2023         2023 - 2028
      Rionald Silaban                    Commissioner                            Extraordinary GMS dated 28 August 2019   12 February 2020        2019 - 2024
      Faried Utomo                       Commissioner                            Annual GMS dated 19 February 2020         4 August 2020          2020 - 2025
      Arif Budimanta                     Commissioner                            Annual GMS dated 19 February 2020         4 August 2020          2020 - 2025
      Nawal Nely                         Commissioner                            Annual GMS dated 19 February 2020         24 August 2020         2020 - 2025
      Muhammad Yusuf Ateh                Commissioner                            Annual GMS dated 15 March 2021            18 August 2021         2021 - 2026
      *) Ended his tenure effective as of the Annual GMS dated 14 March 2023.
      **) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




      BOARD OF COMMISSIONERS CHARTER                                                              1. Duties, Responsibilities and Authorities of the Board of
                                                                                                     Commissioners
      In performing its duties, the Board of Commissioners has                                       a. Duties and Responsibilities
      a working guideline namely the Board of Commissioners                                          b. Rights and Authorities
      Charter (BOC Charter), which has been updated and                                              c. Information Disclosure, Conflict of Interest, and
      ratified based on the Decree of the Board of Commissioners                                        Prohibition
      No. KEP.KOM/008/2023 dated 30 November 2023. This                                              d. Work Ethics and Corporate Culture
      Charter regulates the Board of Commissioner’s work                                          2. Governance of Supporting Organs of the Board of
      procedures and stages of activities in a structured and                                        Commissioners
      systematic manner, easy to understand and can be                                               a. Committees of the Board of Commissioners
      carried out consistently. The BOC Charter serves as a                                          b. Secretary of the Board of Commissioners
      reference in carrying out their respective duties to achieve                                3. Meetings of the Board of Commissioners
      the Company’s goals.                                                                           a. Meeting Provisions
                                                                                                     b. Meeting Participants
      The BOC Charter is prepared based on the Limited Liability                                     c. Chairman of the Meeting
      Company Law, Capital Market Law, OJK Regulation,                                               d. Meeting Invitation
      Minister of SOE Regulation and the Company’s Articles                                          e. Meeting Materials
      of Association.                                                                                f. Quorum and Meeting Decision
                                                                                                     g. Minutes of Meeting
      The BOC Charter regulates the following matters:                                            4. Working Mechanism
                                                                                                     a. Division of Tasks
                                                                                                     b. Report
                                                                                                     c. Commissioner’s Working Time
                                                                                                     d. Document Signing




564   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                    FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                           RESPONSIBILITY                              STATEMENTS 2023




                                                                                       BOARD OF COMMISSIONERS



    e. Official Travel                                               6. Decision making on the Company’s operational
    f. Board of Commissioners Performance Evaluation                    activities by the Board of Commissioners as referred
 5. Others                                                              to in paragraph (5) is part of the supervisory duties
    a. Continuing Education                                             by the Board of Commissioners so as not to negate
    b. Change                                                           the responsibility of the Board of Directors for the
 6. Closing                                                             implementation of the Company’s management.
                                                                     7. In carrying out its supervisory and advisory duties as
 BOARD OF COMMISSIONERS                                                 referred to in article (1), the Board of Commissioners
 DUTIES AND RESPONSIBILITIES                                            shall be responsible to:
                                                                        a. Ensure the implementation of effective and
 The duties, obligations, and responsibilities of the Board                 sustainable good governance;
 of Commissioners based on the Board of Commissioners’                  b. Safeguard the interests of the Company with due
 Charter are as follows.                                                    regard to the interests of the Shareholders and
 1. The Board of Commissioners has the duties to                            being responsible to the GMS;
     supervising the interests of the Company on the                    c. Provide opinion and approval of the Company’s
     policies and management of the Board of Directors,                     Annual Work Plan and Budget, Sustainable
     providing advice to the Board of Directors, and being                  Finance Action Plan, as well as work plans and
     responsible for such supervision, in accordance with                   other strategic matters prepared by the Board of
     the aims and objectives of the Company as stipulated                   Directors in accordance with the provisions of the
     in the provisions of laws and regulations, articles of                 Articles of Association;
     association, and resolutions of the GMS.                           d. Prepare the annual work plan and budget of the
 2. The Board of Commissioners shall carry out its duties,                  Board of Commissioners which is an integral part
     authorities and responsibilities in good faith and with                of the Company’s Annual Work Plan and Budget;
     prudential principles, and comply with the provisions              e. Follow the development of the Company’s
     of laws and regulations and the Articles of Association.               activities, provide opinions and suggestions to the
 3. In conducting supervision, the Board of Commissioners                   GMS on issues deemed important and material to
     shall direct, monitor, and evaluate the implementation                 the Company.
     of integrated governance, risk management, and                     f. Report to the GMS for an indication of decline in the
     compliance, as well as the Company’s strategic                         Company’s performance with recommendations
     policies, in line with the provisions of laws and                      on the corrective measures that must be taken;
     regulations, Articles of Association, and/or GMS                   g. Examine and review the periodic reports and
     resolutions.                                                           Annual Report prepared by the Board of Directors
 4. The Board of Commissioners shall receive and exercise                   and sign the Annual Report;
     the authority delegated and/or granted to the Board                h. P r o v i d e e x p l a n a t i o n s , o p i n i o n s a n d
     of Commissioners in accordance with the provisions                     recommendations to the GMS regarding the
     of laws and regulations, Articles of Association, and/                 Annual Report, if requested;
     or GMS resolutions.                                                i. Report the implementation of supervisory duties
 5. In carrying out supervision, the Board of Commissioners                 that have been carried out during the previous
     is prohibited from participating in decision making on                 fiscal year to the GMS;
     the Company’s operational activities, except:                      j. Evaluate and decide on requests from the Board
     a. provision of funds to related parties, in line with                 of Directors relating to transactions that require
          POJK regarding the maximum limit of lending                       the approval of the Board of Commissioners,
          and large exposures for commercial banks, POJK                    including proposed internal provisions that by
          regarding the maximum limit of distribution of                    regulation require the approval of the Board of
          funds and distribution of large exposures for sharia              Commissioners;
          commercial banks; and                                         k. Conduct active supervision and evaluation of at
     b. other matters stipulated in the Company’s Articles                  least:
          of Association or the provisions of laws and
          regulations.




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      BOARD OF COMMISSIONERS



             i)   Follow-up of the Board of Directors on audit              iii) Appointing an independent quality
                  findings and recommendations from the                          controller from external parties to review the
                  Company’s Internal Audit Unit, External Auditor,               performance of the Internal Audit Unit, at least
                  supervisory results of the Financial Services                  once every 3 (three) years.
                  Authority and/or supervisory results of other         n. In relation to the appointment of Public Accountant
                  authorities and institutions;                             (AP) and Public Accounting Firm (KAP) that will
            ii) Implementation of the compliance function;                  perform audit services of the Company’s Annual
            iii) Implementation of Risk Management and                      Financial Statements:
                  Capital Management in an integrated manner                i) The Board of Commissioners through the
                  in accordance with the characteristics and                     Audit Committee conducts the procurement
                  complexity of the Financial Conglomeration                     process of KAP candidates in accordance with
                  business within the Company;                                   the provisions on procurement of goods and
            iv) Effectiveness of Anti-Fraud Strategy (SAF)                       services of the Company, and if necessary,
                  implementation and code of conduct                             may request the assistance of the Board of
                  implementation among others related to Fraud                   Directors in the procurement process; and
                  prevention for all levels of the organization;            ii) Propose to the GMS the appointment of AP
            v) Implementation of Anti-Money Laundering                           and KAP that will audit the Company’s Annual
                  Program, Prevention of Financing of Terrorism,                 Financial Statements.
                  and Prevention of Financing of Proliferation of       o. Carry out other obligations in the context of
                  Weapons of Mass Destruction;                              supervisory and advisory duties, as long as they do
            vi) Implementation of Remuneration policy;                      not conflict with laws and regulations, the Articles
            vii) Information Technology (IT) strategic plan and             of Association, and/or the GMS Resolution.
                  IT governance;                                     8. The Board of Commissioners shall have a Code of
            viii) Risk management policies and strategic plans          Conduct that is binding for each member of the Board
                  related to cybersecurity                              of Commissioners.
            ix) Recovery Plan and Resolution Plan and                9. In order to carry out the activities of the President
                  updates, including approvals; and                     Commissioner, the President Commissioner has the
            x) Implementation of the Company’s Social &                 duties and responsibilities to:
                  Environmental Responsibility Program (TJSL).          a. Inviting the Board of Commissioners Meeting in
         l. Reporting to the Financial Services Authority no                writing which is submitted to all members of the
            later than 5 (five) business days from the discovery            Board of Commissioners by stating the agenda,
            of:                                                             date, time, and place of the meeting; and
            i) Violation of the provisions of laws and                  b. Coordinating and ensuring the implementation of
                  regulations in the area of finance, banking,              duties and Meetings of the Board of Commissioners
                  and related to the Company’s business                     and Meetings of Committees of the Board of
                  activities; and/or                                        Commissioners in accordance with prevailing laws
            ii) Circumstances or estimates of circumstances                 and regulations.
                  that may jeopardize the Company’s business
                  continuity.                                        Duties and Responsibilities of President Commissioner
         m. Ensuring the implementation of the Internal              Based on the President Commissioner Guidelines and
            Control System both individually and integrated.         Charter, the duties and responsibilities of the President
            Specifically in the implementation of the Internal       Commissioner are as follows:
            Control System, the Board of Commissioners is also       1. Inviting to the Board of Commissioners Meeting in
            responsible for:                                            writing, submitted to all members of the Board of
            i) Ensuring that the Board of Directors prepares            Commissioners by stating the agenda, date, time
                  and maintains an adequate, effective, and             and place of the meeting.
                  efficient Internal Control System;                 2. Coordinating and ensuring the implementation of
            ii) Reviewing the effectiveness and efficiency              duties and meetings of the Board of Commissioners
                  of the Internal Control System based on               and the Board of Commissioner’s Committee Meeting
                  information obtained from the Internal Audit          in accordance with prevailing regulations.
                  Unit at least once a year; and




566   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                  ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                     FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                        RESPONSIBILITY                               STATEMENTS 2023




                                                                                       BOARD OF COMMISSIONERS



 Rights and Authorities of the                                        7. The Board of Commissioners with the most votes at
 Board of Commissioners                                                   any time have the right to temporarily dismiss one or
 The rights and authorities of the Board of Commissioners                 more members of the Board of Directors, if proven to
 are as follows:                                                          be acting contrary to the Articles of Association or
 1. Providing decisions on the actions of the Board of                    proven to have neglected their obligations or there
    Directors as stipulated in the Company’s Articles of                  is an urgent reason for the Company.
    Association.                                                      8. The temporary termination must be notified in writing
 2. Each Commissioner, collectively or individually at any                to the person concerned along with the reasons for
    time has the right to enter the buildings and areas or                the action.
    other places used or controlled by the Company and                9. Within 90 (ninety) days after the date of the temporary
    has the right to examine books, letters of evidence,                  dismissal, the Board of Commissioners is required to
    inventories goods, examine and match the cash                         hold a General Meeting of Shareholders which will
    situation for verification and securities purposes as                 decide whether the relevant member of the Board
    well as to know all actions taken by the Directors.                   of Directors will be permanently dismissed or returned
 3. Actions in such cases as mentioned in paragraph (2)                   to his position, where he is given the opportunity to
    shall be carried out in the capacity of the Board of                  attend and defend himself.
    Commissioners and shall be reported at the Board of               10. 1Approving the appointment and dismissal of the
    Commissioners meeting on such actions.                                Corporate Secretary and Head of the Company’s
 4. If deemed necessary, the Board of Commissioners                       Internal Audit Work Unit which is proposed by the
    has the right to request the assistance of experts in                 Directors and recommended by the Audit Committee.
    carrying out their duties for a limited period at the             11. Conducting other supervisory authorities as long as
    Company’s expense.                                                    they do not conflict with the laws and regulations, the
 5. Each Commissioner has the right to request an                         Articles of Association, and/or GMS Decree.
    explanation of all matters from the Board of Directors
    as well as from all levels below it, and the Board of
    Directors must provide an explanation.
 6. Each Commissioner has the right to attend meetings
    held by the Directors or subordinate units without
    participating in the decision making.

 ASSIGNMENT OF THE BOARD OF COMMISSIONERS OVERSIGHT DUTIES
 To optimize the implementation of functions and duties of the Board of Commissioners, the assignment of duties for each
 member of the Board of Commissioners has been determined. This assignment does not reduce the rights, obligations,
 responsibilities and authority of each member of the Board of Commissioners in carrying out their functions and duties.
 The assignments are as follows:

                Name                               Position                                         Assignments
 Muhamad Chatib Basri           President Commissioner/ Independent            •   Chairman of Remuneration and Nomination
                                                                                   Committee
                                                                               •   Chairman of Integrated Governance Committee
                                                                               •   Member of Audit Committee
 Andrinof A. Chaniago           Vice President Commissioner/ Independent       •   Chairman of Risk Oversight Committee
                                                                               •   Member of Audit Committee
                                                                               •   Member of Remuneration and Nomination Committee
                                                                               •   Member of Integrated Governance Committee
 Loeke Larasati Agoestina       Independent Commissioner                       •   Member of Audit Committee
                                                                               •   Member of Risk Oversight Committee
                                                                               •   Member of Integrated Governance Committee
 Muliadi Rahardja               Independent Commissioner                       •   Member of Audit Committee
                                                                               •   Member of Remuneration and Nomination Committee
 Heru Kristiyana*)              Independent Commissioner                       •   Chairman of Audit Committee
                                                                               •   Member of Risk Oversight Committee




                                                                                                              ANNUAL REPORT 2023     567
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      BOARD OF COMMISSIONERS


                        Name                                                    Position                                 Assignments
      Zainudin Amali*)                               Independent Commissioner                       •   Member of Integrated Governance Committee
      Rionald Silaban                                Commissioner                                   •   Member of Remuneration and Nomination Committee
      Faried Utomo                                   Commissioner                                   •   Member of Integrated Governance Committee
      Arif Budimanta                                 Commissioner                                   •   Member of Risk Oversight Committee
                                                                                                    •   Member of Remuneration and Nomination Committee
      Nawal Nely                                     Commissioner                                   •   Member of Risk Oversight Committee
      Muhammad Yusuf Ateh                            Commissioner                                   •   Member of Integrated Governance Committee
      *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




      DECISION REQUIRING THE APPROVAL                                                      5. Proposing representatives of the Company to become
      OF THE BOARD OF COMMISSIONERS                                                           prospective members of the Board of Directors and
                                                                                              Board of Commissioners of subsidiaries that make
      The decisions that require the approval of the Board of                                 significant contributions to the Company and/or
      Commissioners are stipulated in the Company’s Articles of                               strategic values according to the Limits and/or criteria
      Association and the Board of Commissioners Decree No.                                   set by the Board of Commissioners.
      KEP.KOM/004/2020 dated 26 November 2020 concerning                                   6. Joining, merging, taking over, separation and dissolution
      the Determination of the Limitations of Actions of the Board                            of subsidiaries and joint ventures with a certain
      of Directors of PT Bank Mandiri (Persero) Tbk that must                                 value determined by the Board of Commissioners
      obtain written approval from the Board of Commissioners                                 by observing the laws and regulations in the Capital
      and Dwiwarna A Series Shareholders, and the GMS. The                                    Market for a nominal value of Rp150 billion to Rp200
      decisions that need to be approved by the Board of                                      billion.
      Commissioners include:
      1. Releasing/transferring and/or pledging the Company’s                              TENURE OF THE BOARD OF
          assets with criteria and values exceeding a certain                              COMMISSIONERS
          amount determined by the Board of Commissioners,
          taking into account legislation in the capital market                            Pursuant to the Company’s Articles of Association,
          and banking sector for a nominal value of Rp200 billion                          members of the Board of Commissioners are appointed
          to Rp500 billion.                                                                and dismissed by GMS. The GMS is attended by
      2. Establishing cooperation with business entities or other                          shareholders of Series A Dwiwarna Share and the resolutions
          parties, in the form of joint operations (KSO), business                         of the meeting must be approved by the shareholders.
          cooperation (KSU), licensing cooperation, Build-                                 Members of the Board of Commissioners are appointed
          Operate and Transfer (BOT), Build-Owned Ownership                                by the GMS from the candidates proposed by the GMS,
          (Build, Operate and Own/BOO) and other agreements                                from the candidates proposed by shareholders of series
          having the same nature, the term of which or the                                 A Dwiwarna, and the candidacy is binding to the GMS.
          value exceeds the value determined by the Board of
          Commissioners for a nominal of Rp200 billion to Rp500                            The GMS resolutions on the appointment and dismissal
          billion and a period of 5-10 years.                                              of members of the Board of Commissioners also decide
      3. Conducting capital participation, releasing capital                               the time for the appointment and dismissal. In the event
          participation including changes in capital structure                             that GMS does not make the decision, the appointment
          with a certain value determined by the Board of                                  and dismissal of members of the Board of Commissioners
          Commissioners of other companies, subsidiaries and                               are effective as of the closing of GMS by observing the
          joint ventures that are not in the framework of saving                           laws and regulations.
          receivables, by taking into account provisions in the
          Capital Market for a nominal value of Rp150 billion
          to Rp200 billion.
      4. Establishing a subsidiary and/or joint venture of a certain
          value determined by the Board of Commissioners by
          taking into account legislation in the Capital Market
          for a nominal value of Rp150 billion to Rp200 billion.




568   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                  ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                            RESPONSIBILITY                         STATEMENTS 2023




                                                                                       BOARD OF COMMISSIONERS



 Members of the Board of Commissioners are appointed                   BOARD OF COMMISSIONERS
 for a period of time as of the date determined by GMS,                NOMINATION AND SELECTION PROCESS
 which appointed them, and expired on the closing of
 the 5th (five) Annual GMS following the date of their                 In accordance with the Articles of Association, members of
 appointment, provided that it may not exceed the 5 (five)             the Board of Commissioners are appointed and dismissed
 year period, by observing the laws and regulations of the             by the GMS, for a period of 5 (five) years effective from
 Capital Market, however without prejudice to the rights of            the date of GMS appointment. Members of the Board of
 GMS to dismiss members of the Board of Commissioners                  Commissioners whose office terms are expired may be
 at any time prior to their tenures expire. Following the end          reappointed by the GMS.
 of tenure, members of the Board of Commissioners may
 be reappointed by the GMS for one tenure.                             The procedure for the appointment of Bank Mandiri Board of
                                                                       Commissioners refers to OJK Regulation No. 33/POJK.04/2014
 CRITERIA FOR THE BOARD OF                                             on the Board of Directors and Board of Commissioners of
 COMMISSIONERS MEMBERS                                                 Issuers or Public Companies and SOE Minister Regulation
                                                                       No. PER-11/MBU/07/2021 on Requirements and Procedures
 The Board of Commissioners shall meet the criteria as                 for Appointment and Dismissal of Members of the Board
 stipulated by OJK Regulation No. 33/POJK.04/2014 as                   of Commissioners and Supervisory Board of State-Owned
 follows:                                                              Enterprises as amended by SOE Minister Regulation No.
                                                                       PER-7/MBU/09/2022 on Requirements and Procedures for
 1. Having good character, morals, and integrity;                      Appointment and Dismissal of Board Members Commissioner
 2. Being competent in performing legal acts;                          and Supervisory Board of State-Owned Enterprises, and
 3. Within 5 (five) years prior to appointment or during               last amended with SOE Minister Regulation No. PER-3/
    the office, he/she:                                                MBU/03/2023 concerning Organs and Human Resources
    a. is never declared bankrupt;                                     of State-Owned Enterprises. The procedures for appointing
    b. never becomes a member of the Board of Directors                the Board of Commissioners include:
         and/or member of the Board of Commissioners
         who is declared as guilty and causes a company                1. Sources of candidates for the Board of Commissioners/
         to be declared as bankrupt;                                      Board of Commissioners of SOEs come from:
    c. is never penalized for committing a criminal act                   a. Former Director of SOEs.
         which causes adverse impact to the country’s                     b. Board of Commissioners/Supervisory Board of SOEs.
         finance and/or to anything related to financial                  c. Structural Officials and Government Functional
         sector; and                                                          Officials.
    d. never becomes a member of the Board of Directors                   d. Other sources.
         and/or member of the Board of Commissioners                   2. The GMS/Minister may determine candidates who have
         who, during his/ her tenure:                                     been declared to meet the formal requirements and
         • failing to holding Annual GMS;                                 other requirements and have been assessed with the
         • having his/her accountability as a member of                   criteria of ‘Recommended’ to become members of
              the Board of Directors and/or members of the                the Board of Commissioners/Supervisory Board of SOEs.
              Board of Commissioners not accepted by the               3. For certain SOEs, the determination of a person to
              GMS or not giving accountability as a member                be a member of the SOEs Board of Commissioners/
              of the Board of Directors; and/or members of                Supervisory Board can be done after being declared
              the Board of Commissioners to the GMS; and                  to have passed the assessment in accordance with
         • having caused the companies which obtains                      sectoral regulations.
              permission, approval, and registration from              4. In the event that the determination of members
              Financial Services Authority to fail in fulfilling          of the SOEs Board of Commissioners/Supervisory
              their obligation to submit annual report and/               Board is carried out before the Fit and Proper Test
              or Financial Services Authority.                            in accordance with sectoral provisions, the actions,
 4. has commitment to comply to the laws and regulations;                 duties, and functions as members of the SOEs Board
 5. has knowledge and/or expertise in the fields required                 of Commissioners/Supervisory Board are counted from
    by the Company; and                                                   the moment they are declared to have passed the Fit
 6. fulfilling other specified requirements.                              and Proper Test in accordance with sectoral provisions.
                                                                       5. Members of the SOEs Board of Commissioners/
                                                                          Supervisory Board of as referred to in paragraph (3)
                                                                          have a term of office effective since determined by
                                                                          the GMS/Minister.



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      BOARD OF COMMISSIONERS



      6. In the event that a member of the Board of                   15. After the GMS is held, all documents are submitted to
          Commissioners/Supervisory Board of a particular SOE             the Deputy for administration.
          is declared not to have passed the Fit and Proper           16. The administrative process by the Deputy as referred
          Test in accordance with sectoral provisions, the GMS/           to in paragraph (12) and paragraph (14) includes
          Minister may dismiss the member of the Board of                 documentation of the appointment and assessment
          Commissioners/Supervisory Board of SOEs by taking               process.
          into account sectoral provisions.                           17. Members of the Board of Commissioners/ Supervisory
      7. The determination of a person to be a member of                  Board of Elected SOEs sign a statement letter
          the SOEs Board of Commissioners/Supervisory Board               containing the ability to carry out their duties properly
          can be done by:                                                 and are willing to be dismissed at any time based on
          • Decision of the Minister as GMS/owner of capital              the consideration of the Minister/GMS, as stated in
              when the entire share/capital of SOE is owned by            Annex VII which is an integral part of this Ministerial
              the State; Or                                               Regulation.
          • The decision of the GMS or the decision of all            18. Members of the Board of Commissioners/ Supervisory
              shareholders is circular if not all shares are owned        Board of SOEs shall take office effectively from the
              by the State.                                               date of submission of the resolution or the date
      8. For Public Companies, the curriculum vitae                       stipulated in the circular resolution of the Minister/
          of prospective members of the SOEs Board of                     GMS/all shareholders.
          Commissioners who will be proposed for appointment
          at the GMS must be available and announced at               The process of nominating and selecting the Board of
          the GMS prior to making a decision regarding the            Commissioners is carried out through the proposal of
          appointment of the person concerned as a member             the members of the Board of Directors to the GMS by
          of the Board of Commissioners of SOEs.                      taking into account the recommendations of the Board
      9. Prior to being appointed as a member of the Board of         of Commissioners and the Remuneration and Nomination
          Commissioners/Supervisory Board of SOEs, the person         Committee. Prior to the discussion on the appointment
          concerned must sign a statement letter resigning from       and dismissal of the Board of Commissioners in the GMS,
          other positions that are prohibited from concurrently       information was provided on the profiles of new and
          serving as members of the Board of Commissioners/           reappointed candidates for the Board of Commissioners.
          Supervisory Board of SOEs starting from the moment
          the person concerned is appointed as a member of            BOARD OF COMMISIONERS
          the Board of Commissioners/Supervisory Board.               DISMISSAL MECHANISMS
      10. In the event that the person concerned does not
          resign within the period as stipulated in the laws and      The resignation and dismissal mechanism of the Board of
          regulations, his/her position as a member of the Board      Commissioners under the SOE Minister Regulation No. PER-
          of Commissioners/Supervisory Board of SOEs ends at          3/MBU/03/2023 concerning Organs and Human Resources
          that time limit.                                            of State-Owned Enterprises, are as follows:
      11. In the event that the appointment decision is made          1. The Minister/Deputy Minister can evaluate the
          by Ministerial Decree or the decision of all shareholders       members of the SOEs Board of Commissioners/
          circularly, after the decision is determined, the Deputy        Supervisory Board prior to dismissing members of the
          processes the submission of the decision letter to the          SOEs Board of Commissioners/Supervisory Board.
          elected members of the Board of Commissioners/              2. The results of the Minister/Deputy Minister’s evaluation
          Supervisory Board of SOEs.                                      of members of the SOEs Board of Commissioners/
      12. In the submission process as referred to in paragraph           Supervisory Board are further processed by the
          (10), the Deputy Minister or Deputy is assisted by              Deputy by submitting the draft Ministerial Decree/
          primary high leadership officials responsible for law,          GMS regarding the dismissal of members of the SOEs
          Assistant Deputies, and Assistant Deputy Sectors.               Board of Commissioners/ Supervisory Board to obtain
      13. After the submission is made, all documents are                 determination.
          submitted to the Deputy for administration.                 3. The plan to dismiss a member of the SOEs Board of
      14. In the case of adoption to be prescribed in the GMS,            Commissioners/Supervisory Board prior to the end of
          the presentation of the results of the assessment to            his/her term of office must be notified in advance to
          the Minister accompanied by a letter of designation             the member of the Board of Commissioners/Supervisory
          of the candidate and a power of attorney to attend              Board of SOEs concerned orally or in writing by the
          and take decisions in the GMS.                                  Minister.




570   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                 ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                          RESPONSIBILITY                           STATEMENTS 2023




                                                                                     BOARD OF COMMISSIONERS



 4. In the event that the Minister does not give notice,            16. The Deputy Minister may authorize the Assistant Deputy
     the Minister by this Ministerial Regulation authorizes             Sector to attend and make decisions at the GMS.
     with the right of substitution to the Deputy to make           17. The Minister may authorize the Deputy and/or Secretary
     such notification.                                                 of the Ministry to attend and take decisions at the GMS.
 5. The Deputy may authorize the Sector Deputy Assistant            18. As long as the dismissal is still in process, the members
     and the Deputy Assistant to make such notices.                     of the Board of Commissioners/ Supervisory Board
 6. The decision to dismiss on grounds other than being                 of SOEs concerned must continue to carry out their
     found guilty by a court decision that has permanent                duties as they should.
     legal force and resign is taken after the person               19. The dismissal of members of the Board of
     concerned is given the opportunity to defend himself.              Commissioners/Supervisory Board of SOEs can
 7. Self-defense may be given directly upon notification                be processed simultaneously with the process of
     to the notifying official.                                         appointing members of the Board of Commissioners/
 8. In the case of oral notification and self-defense, it is            Supervisory Board of the relevant SOEs.
     carried out face-to-face and evidenced by minutes              20. The dismissal of members of the SOEs Board of
     signed by members of the Board of Commissioners/                   Commissioners/Supervisory Board is effective from
     Supervisory Board of SOEs concerned and the notifying              the date stipulated in the Ministerial Decree/GMS/all
     official.                                                          shareholders circularly.
 9. If the member of the Board of Commissioners/
     Supervisory Board of SOEs concerned is not willing
     to sign the minutes then the reason is stated in the           BOARD OF COMMISIONERS
     minutes of the event.                                          RESIGNATION MECHANISMS
 10. In the event that notification is made at the GMS, self-
     defense is carried out at the GMS in accordance with           The resignation mechanism of the Board of Commissioners
     the provisions of self-defense as stipulated in the law        based on the Articles of Association, are as follows:
     regarding limited liability companies.
 11. In the process of dismissing members of the Board of           1. A member of the Board of Commissioners has the right
     Commissioners/Supervisory Board of SOEs, the Minister             to resign from the position prior to the end of tenure
     may request the consideration of the Deputy Minister,             by notifying in writing of the purpose to the Company.
     Deputy and/or Secretary of the Ministry.                       2. The Company shall convene the GMS to resolve
 12. The determination of the dismissal of members of the              the resignation request of member of the Board of
     SOEs Supervisory Board is carried out by Ministerial              Commissioners at the latest 90 (ninety) days after the
     Decree.                                                           acceptance of the resignation letter.
 13. The determination of the dismissal of members of               3. The Company shall implement disclosure of information
     the SOEs Board of Commissioners can be done by                    to the public and to convey to the OJK at the latest
     Ministerial Decree as the GMS, GMS resolution, and                2 (two) days after the acceptance of the resignation
     circular decisions of all shareholders.                           request from member of the Board of Commissioners.
 14. In the event that the determination of the dismissal of        4. Prior to the effective of the resignation, the said
     members of the Board of Commissioners/Supervisory                 member of the Board of Commissioners remains to
     Board of SOEs is carried out by Ministerial Decree                carry out the obligation to complete the duties and
     or circular decision of all shareholders, the Deputy              responsibilities according to the Articles of Association
     processes the draft Ministerial Decree or the decision            and the laws and regulations.
     of all shareholders circularly.                                5. The resigning member of the Board of Commissioners
 15. In the event that the determination of dismissal of               may still be requested for responsibilities as a member
     members of the SOEs Board of Commissioners/                       of the Board of Commissioners until the date of the
     Supervisory Board is carried out in the GMS offline               approval by the GMS.
     and/or online and the Minister cannot attend the
     GMS in person, the Minister authorizes with the right
     of substitution to the Deputy Minister to attend and
     make decisions at the GMS.




                                                                                                          ANNUAL REPORT 2023        571
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      BOARD OF COMMISSIONERS



      6. The release of responsibilities to the resigning member     Policies Related to the Resignation of the Board of
         of the Board of Commissioners shall be provided after       Commissioners Getting Involved in Financial Crime
         the release from the Annual GMS.                            Bank Mandiri has in place the policy on resignation of
      7. In the event that the resignation of a member of the        member of the Board of Commissioners when involved
         Board of Commissioners resulting in the reduction of        in financial crime as stated in the Bank’s Articles
         numbers of member of the Board of Commissioners to          of Association, namely the tenure of the Board of
         less than 3 (three), such resignation shall be valid upon   Commissioners is ended upon the violations of laws and
         the GMS stipulation and a new member has been               regulations and upon resignation.
         appointed, hence to meet the minimum requirement
         of member of the Board of Commissioners.                    Referring to the Article 14 paragraph (26) letter of the
                                                                     Bank’s Articles of Association, the tenure of member of
      In accordance with SOE Minister Regulation No. PER-3/          the Board of Commissioners is ended if no longer meet the
      MBU/03/2023 concerning Organs and Human Resources              requirements as member of the Board of Commissioners
      of State-Owned Enterprises Article 70:                         based on the Articles of Association and other laws and
      1. The position of a member of the Board of                    regulations. In the event that a member of the Board
          Commissioners/Supervisory Board of SOEs ends if:           of Commissioners is resigning including if involved in the
          a. passed-away;                                            financial crime, hence a concerned member of the Board
          b. his/her term of office expired;                         of Commissioners shall inform in writing regarding his/her
          c. dismissed based on the decision of the GMS/             intention to the Bank, and the Bank shall convene the
              Minister; and/or                                       GMS to take decision on the resignation of a member
          d. no longer meets the requirements as a member            of the Board of Commissioners within 90 days after the
              of the SOEs Board of Commissioners/Supervisory         acceptance of the resignation.
              Board based on the provisions of the articles of
              association and laws and regulations, including        BOARD OF COMMISSIONERS
              concurrent positions that are prohibited.              AFFILIATES RELATIONSHIP
      2. The term of office ends as referred to in paragraph (1)
          point b including resigning from office.                   Affiliation shall mean relationship between the Board of
      3. In the event that the position of a member of the SOEs      Directors, Board of Commissioners and Main/Controlling
          Board of Commissioners/Supervisory Board ends for          Shareholders of the Company.
          reasons as referred to in paragraph (1) letter a, letter
          b, and letter d then:                                      The following are criteria of affiliate relationship among
          a. The Deputy shall convey information regarding           members of the Board of Commissioners:
              the situation to the Minister and at the same time     1. Affiliations among members of the Board of Directors
              process the dismissal in accordance with the              and Board of Commissioners.
              provisions of this Ministerial Regulation; and         2. Affiliations among the Board of Commissioners
          b. The expiration of the position of members of the           members; and
              SOEs Board of Commissioners/Supervisory Board is       3. Affiliations among the Board of Commissioners members
              confirmed by a Ministerial decree or GMS.                 with Ultimate and/or Controlling Shareholders.




572   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                              ESG COMMITMENTS                                   SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                             & PRACTICES                                       RESPONSIBILITY                                     STATEMENTS 2023




                                                                                                                       BOARD OF COMMISSIONERS



 The affiliate relationships of the Board of Commissioners are illustrated in the following table:

                                                                               Financial, Family, and Commissioners Management Relations
                                                              Financial Relations With                               Family Relations With
      Name                 Position                                                  Controlling                                       Controlling   Management
                                                    BOC              BOD                                   BOC             BOD
                                                                                    Shareholders                                      Shareholders    Relations
                                              Yes       No        Yes     No        Yes     No       Yes     No         Yes   No      Yes     No      Yes      No
 Muhamad              President
 Chatib Basri         Commissioner/                       √                √                 √                   √             √               √               √
                      Independent
 Andrinof A.          Vice President
 Chaniago             Commissioner/                       √                √                 √                   √             √               √               √
                      Independent
 Loeke Larasati       Independent
                                                          √                √                 √                   √             √               √               √
 Agoestina            Commissioner
 Muliadi              Independent
                                                          √                √                 √                   √             √               √               √
 Rahardja             Commissioner
 Heru                 Independent
                                                          √                √                 √                   √             √               √               √
 Kristiyana*)         Commissioner
 Zainudin             Independent
                                                          √                √                 √                   √             √               √               √
 Amali*)              Commissioner
 Rionald              Commissioner
                                                          √                √                 √                   √             √               √               √
 Silaban
 Arif Budimanta Commissioner                              √                √                 √                   √             √               √               √
 Nawal Nely           Commissioner                        √                √                 √                   √             √               √               √

  Faried Utomo        Commissioner                        √                √                 √                   √             √               √               √
  Muhammad            Commissioner
                                                          √                √                 √                   √             √               √               √
  Yusuf Ateh
 *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




 BOARD OF COMMISSIONERS                                                                          Concurrent Positions
 CONCURRENT POSITION                                                                             1. The SOEs Board of Commissioners/Supervisory Board
                                                                                                    may concurrently serve as the Board of Commissioners
 The concurrent positions of the Board of Commissioners                                             in other business entities, provided that it refers to the
 have been regulated Based on SOE Minister Regulation                                               provisions of sectoral laws and regulations.
 No. PER-3/MBU/03/2023 concerning Organs and Human                                               2. The SOEs Board of Commissioners/Supervisory Board
 Resources of State-Owned Enterprises and OJK Regulation                                            who concurrently serves as the Board of Commissioners
 No. 17 of 2023 concerning the Implementation of                                                    in other business entities as referred to in paragraph (1)
 Governance for Commercial Banks as follows :                                                       must meet the percentage of attendance at meetings
                                                                                                    of the SOEs Board of Commissioners/Supervisory Board
                                                                                                    for 1 (one) year of at least 75% (seventy-five percent)
                                                                                                    of attendance, as a requirement to obtain Tantiem/
                                                                                                    Performance Incentives/Special Incentives for those
                                                                                                    concerned.




                                                                                                                                              ANNUAL REPORT 2023    573
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      BOARD OF COMMISSIONERS



      Prohibition of Concurrent Positions                           6. The provisions referred to in paragraph (5) do not
      1. Members of the SOEs Board of Commissioners/                   diminish the responsibility of the members of the
         Supervisory Board of are prohibited from holding              Board of Commissioners/Supervisory Board of SOEs
         concurrent positions as members of the Board of               concerned for the losses of SOEs caused by the
         Commissioners/Supervisory Board of SOEs, except               mistakes or negligence of the members of the Board of
         based on special assignment from the Minister.                Commissioners/Supervisory Board of SOEs concerned
      2. Members of the Board of Commissioners/ Supervisory            in carrying out their duties.
         Board are prohibited from holding concurrent positions     7. If the members of the SOEs Board of Commissioners/
         as members of the Board of Directors at SOEs, other           Supervisory Board consist of 2 (two) members of the
         business entities or occupying positions that under           SOEs Board of Commissioners/Supervisory Board or
         laws and regulations are prohibited from concurrently         more, the responsibilities as referred to in paragraph
         holding the positions of members of the Board of              (6), jointly apply to each member of the SOEs Board
         Commissioners/Supervisory Board of SOEs, or positions         of Commissioners/Supervisory Board.
         that may cause a conflict of interest with the relevant
         SOEs, and sign a statement letter willing to resign from   In addition, the Company’s Articles of Association
         the position if elected as a member of the Board           also regulates the concurrent position of the Board of
         Commissioner/Supervisory Board of SOEs.                    Commissioners policy. The Board of Commissioners shall
      3. The term of office of members of the SOEs Board of         be prohibited from having concurrent positions as:
         Commissioners or the Supervisory Board who hold            1. Member of the Board of Directors at SOEs, Regionally-
         concurrent positions as referred to in paragraph (1)           Owned Enterprises, and private enterprises.
         and paragraph (2), expires by law since other members      2. Committee of political party and/or candidate/
         of the SOEs Board of Commissioners/Supervisory Board           member of the House of Representative, House of
         concerned or members of the Board of Directors or              Regional Representative, Regional People’s House
         GMS/Minister become aware of the position conflict             of Representative Level I and II, and/or candidate of
         as intended.                                                   regional head/vice head.
      4. Within a period of no later than 7 (seven) days from       3. Other positions pursuant to the applicable laws and
         the date of known the position holder as referred to in        regulations.
         paragraph (1) and paragraph (2), other members of          4. Concurrent positions that may cause a conflict of
         the SOEs Board of Commissioners/Supervisory Board              interest.
         concerned or members of the Board of Directors of
         SOEs, must submit a notification to the GMS/Minister       Bank Mandiri’s Board of Commissioners has revealed
         regarding the position dispute, for further termination    members’ concurrent positions and does not have
         of the process of determining dismissal.                   concurrent positions outside those permitted by applicable
      5. Legal acts committed for and on behalf of SOEs             regulations and can cause conflict of interest which is
         by members of the SOEs Board of Commissioners/             prohibited by regulations.
         Supervisory Board after they expire due to the law as
         referred to in paragraph (3) are invalid and become
         the personal responsibility of the members of the
         SOEs Board of Commissioners/ Supervisory Board
         concerned.




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 CORPORATE                        ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                         FINANCIAL
GOVERNANCE
 GOVERNANCE                       & PRACTICES                                RESPONSIBILITY                                   STATEMENTS 2023




                                                                                                         BOARD OF COMMISSIONERS



 The following table describes the concurrent position of the Board of Commissioners.

          Name                          Position               Position in Other Companies/Institutions       Name of Other Companies/Institutions
 Muhamad Chatib Basri President Commissioner/                  President Commissioner/ Independent        PT XL Axiata Tbk
                      Independent
                                                               Lecturer in Economics                      University of Indonesia
 Andrinof A. Chaniago       Vice President Commissioner/       Lecturer in Political Studies              University of Indonesia
                            Independent
 Boedi Armanto*)            Independent Commissioner           -                                          -
 Loeke Larasati             Independent Commissioner           -                                          -
 Agoestina
 Muliadi Rahardja           Independent Commissioner           Commissioner                               PT XL Axiata Tbk
 Heru Kristiyana**)         Independent Commissioner           President Director                         Indonesia Banking Development Institution
                                                                                                          (LPPI)
                                                               Commissioner                               PT Sarana Meditama Metropolitan Tbk
 Zainudin Amali**)          Independent Commissioner           Vice Chairman 1                            Indonesia Football Association (PSSI)
                                                               Lecturer                                   Semarang State University
                                                               Lecturer                                   Surabaya State University
                                                               Lecturer                                   Prof. Dr. Moestopo University (Religious)
 Rionald Silaban            Commissioner                       Director General of State Treasury         Directorate General of State Treasury, Finance
                                                                                                          Ministry of the Republic of Indonesia
 Arif Budimanta             Commissioner                       The President’s Special Staff for Micro    Team of the President of the Republic of
                                                               Economics/MSME                             Indonesia
  Faried Utomo              Commissioner                       Deputy for Administration                  Secretariat of the Cabinet of the Republic of
                                                                                                          Indonesia
  Nawal Nely                Commissioner                       Deputy of Finance and Risk Management SOE Ministry of the Republic of Indonesia
  Muhammad Yusuf            Commissioner                       Chairman                                   Financial and Development Supervisory
  Ateh                                                                                                    Agency
  *) Ended his tenure effective as of the Annual GMS dated 14 March 2023.
  **) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.



 MANAGEMENT OF THE BOARD OF COMMISSIONER’S CONFLICTS OF INTEREST

 The management of conflict-of-interest for the Board of Commissioners is regulated in the BOC Charter as follows:
 1. Pursuant to laws and regulations, each Commissioner shall maintain the information by keeping it confidential
    including provisions on insider trading and other information that the Company has not disclosed to the public.
 2. Each Commissioner shall disclose:
    a. Ownership of shares in the Company and in other companies domestically or abroad.
    b. Financial and family relationships with other members of the Board of Commissioners and members of the Board
        of Directors and their families.
    c. Other information related to laws and regulations must be disclosed to the public.
 3. The Board of Commissioners is prohibited from being involved in making decisions related to banking operational
    activities and/or making decisions that may cause conflicts of interest.
 4. The Board of Commissioners in carrying out its duties, responsibilities and authority is prohibited from using the
    Company for personal, family, other companies or certain parties’ interests in a manner that is contrary to the laws
    and regulations and the Company’s code of ethics.




                                                                                                                                ANNUAL REPORT 2023         575
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      BOARD OF COMMISSIONERS




      SHARE OWNERSHIP OF THE BOARD OF COMMISSIONERS

      The Board of Commissioners has disclosed its ownership (<5%) in both Bank Mandiri and other banks and other companies
      domiciled at home and abroad. Bank Mandiri’s Board of Commissioners shares ownership can be seen in the table below.

                                                           Shareholding of the Board of Commissioners
                                                                                                         Shares Ownership
                 Name                           Position                                                                Non-Bank Financial          Other
                                                                            Bank Mandiri                Other Banks
                                                                                                                            Institutions          Companies
      Muhamad Chatib Basri            President Commissioner/                     Nil                       Nil                   Nil                   Nil
                                      Independent
      Andrinof A. Chaniago            Vice President                              Nil                       Nil                   Nil                   Nil
                                      Commissioner/
                                      Independent
      Loeke Larasati Agoestina        Independent                                 Nil                       Nil                   Nil                   Nil
                                      Commissioner
      Muliadi Rahardja                Independent                                 Nil                       Nil                   Nil                   Nil
                                      Commissioner
      Heru Kristiyana*)               Independent                                 Nil                       Nil                   Nil                   Nil
                                      Commissioner
      Zainudin Amali*)                Independent                                 Nil                       Nil                   Nil                   Nil
                                      Commissioner
      Rionald Silaban                 Commissioner                 2,017,700 shares (0.0021618 %)           Nil                   Nil                   Nil
      Arif Budimanta                  Commissioner                 1,703,900 shares (0.0018256 %)           Nil                   Nil                   Nil
      Nawal Nely                      Commissioner                 1,703,900 shares (0.0018256 %)           Nil                   Nil                   Nil
      Faried Utomo                    Commissioner                 1,703,900 shares (0.0018256 %)           Nil                   Nil                   Nil
      Muhammad Yusuf Ateh             Commissioner                 1,261,100 shares (0.0013512 %)           Nil                   Nil                   Nil
      *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




      INDEPENDENT COMMISSIONERS

      The composition of members of the Board of Commissioners has met the OJK Regulation No. 55/POJK.03/2016 on
      Implementation of Good Corporate Governance for Commercial Banks, and OJK Circular No. 17 of 2023 on Implementation
      of Good Corporate Governance for Commercial Banks which stipulated that at least 50% of the total members of the
      Board of Commissioners are Independent Commissioners.

      The composition of the Bank’s Board of Commissioners as of 31 December 2023 were 11 (eleven) members, 6 (six) of
      which are Independent Commissioners, or 54.5% of all of the Commissioners.

      Criteria for Independent Commissioner and Statement of Independent
      The criteria of Independent Commissioner refer to the OJK Regulation No. 33/POJK.04/2014 concerning Board of Directors
      and Board of Commissioners of Issuers or Public Companies, as follows:

                                                                                               Independent Commissioners
            Criteria for Independent Commissioner               Muhamad                                       Loeke
                                                                               Andrinof A.     Boedi                       Muliadi           Heru       Zainudin
                                                                 Chatib                                      Larasati
                                                                               Chaniago      Armanto*)                    Rahardja      Kristiyana**)   Amali**)
                                                                  Basri                                     Agoestina
      Shall not become the person who works, has the
      authority over, or has responsibility to plan, lead,
      control, or monitor the Bank’s activities in the last
                                                                      √                 √           √             √           √              √                √
      6 (six) months except for reappointment as an
      Independent Commissioner of Public Company for
      the next period.
      Shall not have shares either directly or indirectly in
                                                                      √                 √           √             √           √              √                √
      the Issuer or the Public Company.




576   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
 GOVERNANCE                             & PRACTICES                                   RESPONSIBILITY                                 STATEMENTS 2023




                                                                                                              BOARD OF COMMISSIONERS


                                                                                                    Independent Commissioners
        Criteria for Independent Commissioner                          Muhamad                                  Loeke
                                                                                    Andrinof A.     Boedi                  Muliadi         Heru       Zainudin
                                                                        Chatib                                 Larasati
                                                                                    Chaniago      Armanto*)               Rahardja    Kristiyana**)   Amali**)
                                                                         Basri                                Agoestina
 Shall not have affiliate relationship with the Issuer or
 the Public Company, BOC member, BOD member,
 or majority shareholders of the Issuer or the Public                         √         √             √           √          √             √             √
 Company.
 Shall not have any business relationship either directly
 or indirectly in the Issuer or the Public Company.                           √         √             √           √          √             √             √
 *) Ended his tenure effective as of the Annual GMS dated 14 March 2023.
 **) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.


 The Bank’s Independent Commissioner has signed the Statement certifying the fulfilment of criteria as well as independency
 of position in accordance with the criteria as set under the prevailing regulations and has been submitted to the OJK.




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                HIGHLIGHTS                  REPORT                              PROFILE                                AND ANALYSIS




      BOARD OF COMMISSIONERS



      ORIENTATION PROGRAM FOR NEW COMMISSIONERS

      New member of the Board of Commissioner who is appointed for the first time is given an orientation in relation to their
      duties and responsibilities. The orientation program aims to provide an understanding and idea on the Company’s
      condition in general, the Company’s values, vision and mission, introduction to the business activities of the Company
      and its subsidiaries as well as regulations, procedures, and implementation of corporate governance.

      The orientation program for new Commissioners is carried out by presenting relevant material by the relevant Directors
      and coordinated by the Corporate Secretary.

      In addition to direct explanations by the relevant Directors, new Commissioners are also given a Board Manual, a
      document on regulations that shall be acknowledged by the Board of Commissioners to carry out its duties and
      responsibilities, including the Articles of Association, BOC Charter, Committee Charter, and other related documents.

      In 2023, orientation programs had been held for new Commissioners with the following details:

          No.           Name           Position         Date            Theme of Training / Seminar                       Instructor
      1          Heru Kristiyana   Independent 29 March 2023      PSAK 71                                    Bank Mandiri Work Unit Leader
                                   Commissioner
                                                29 March 2023     RKAP 2023, RBB 2023-2025, Corporate        Bank Mandiri Work Unit Leader
                                                                  Plan 2020-2024, and Financial
                                                                  Performance
                                                  31 March 2023   Bank Soundness Rating and Risk Profile     Bank Mandiri Work Unit Leader


                                                  11 April 2023   Bank Mandiri 10-year Transformation Plan   Bank Mandiri Work Unit Leader
                                                  11 April 2023   Good Corporate Governance,                 Bank Mandiri Work Unit Leader
                                                                  Integrated Governance, and AML/CFT
      2          Zainudin Amali    Independent 29 March 2023      PSAK 71                                    Bank Mandiri Work Unit Leader
                                   Commissioner
                                                29 March 2023     RKAP 2023, RBB 2023-2025, Corporate        Bank Mandiri Work Unit Leader
                                                                  Plan 2020-2024, and Financial
                                                                  Performance
                                                  31 March 2023   Bank Soundness Rating and Risk Profile     Bank Mandiri Work Unit Leader
                                                  11 April 2023   Bank Mandiri 10-year Transformation Plan   Bank Mandiri Work Unit Leader
                                                  11 April 2023   Good Corporate Governance,                 Bank Mandiri Work Unit Leader
                                                                  Integrated Governance, and AML/CFT
                                                  29-30 May,      Risk Management Training for               LPPI
                                                  05 June 2023    Commercial Banks’ Commissioner
                                                                  Candidates




      BOARD OF COMMISSIONERS MEETING

      The Board of Commissioners meetings is regulated in the BOC Charter and also refer to the POJK No. 33/2014, as follows:

      1. The Board of Commissioners must hold a meeting at least once in one month or at any time if deemed necessary
         by one or more members of the Board of Commissioners or at the request of the Board of Directors.
      2. The Board of Commissioners must hold regular meetings with the Board of Directors (Joint Meetings) at least once
         in 4 (four) months.
      3. The meeting of the Board of Commissioners is legal and has the right to make binding decisions if 2/3 of the total
         members of the Board of Commissioners are present or represented at the meeting.
      4. A Commissioner can be represented at a meeting by another Commissioner based on a proxy.
      5. A Commissioner can only represent one other Commissioner.
      6. The Board of Commissioners can schedule the Board of Commissioners meetings for the following year prior to the
         fiscal year ends.




578   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
 GOVERNANCE               & PRACTICES                                  RESPONSIBILITY                                         STATEMENTS 2023




                                                                                                    BOARD OF COMMISSIONERS



 Materials for the Board of Commissioners meetings are distributed to all meeting participants no later than 5 (five)
 working days prior to the meeting, unless the meeting is held out of schedule, the meeting materials can be delivered
 prior to the meeting.

 Meeting of the Board of Commissioners may also be held remotely (such as teleconference, video conference or other
 electronic media) if such way enables all participants to directly hear, see and participate live in the meeting.

 The Board of Commissioners meeting is chaired by the President Commissioner or one of elected members of the Board
 of Commissioners, in the absent of President Commissioner. The Board of Commissioners meeting shall be recorded in
 the minutes of meeting and distributed to all members of the Board of Commissioners as well as shall be documented
 by the Company.
 The Board of Commissioners may also take lawful decisions without convening the Board of Commissioners meeting (in
 circular) provided that all members of the Board of Commissioners have been notified and give their written approval
 concerning the proposed plan. This Circular Resolution shall have the same effect as the resolution validly adopted in
 the Board of Commissioners meeting.

 Board of Commissioners Meetings Plan
 The Board of Commissioners’ meetings plan for 2023 as uploaded on the Bank Mandiri website are as follows:

 Quarter I            Monthly Review of Bank Performance.
                      Review of Consolidated Financial Statements for Financial Year 2023 (Audited).
                      Quarterly Review of the Bank and Subsidiaries' Performance for 2023.
                      Preparation of Annual General Meeting of Shareholders for Financial Year 2023
                      Selection of Public Accountant Office (KAP) for the Audit of Financial Statements for the Year 2024.
                      Quarterly Review of Risk Profile, Business Activities, IT, HR, and Other Strategic Initiatives for the period of Quarter IV/2023
 Quarter II           Monthly Review of the Bank's Performance.
                      Quarterly Review of Risk Profile, Business Activities, IT, HR, and Other Strategic Initiatives for the period of Q1/2024.
                      Quarterly Review of the Performance of the Bank and its Subsidiaries for the period of Q1/2024.
 Quarter III          Monthly Review of the Bank’s Performance.
                      Quarterly Review of the Performance of the Bank and its Subsidiaries for the period of Quarter II/2024.
                      Quarterly Review of Risk Profile, Business Activities, IT, HR, and Other Strategic Initiatives for the period of Quarter II/2024.
                      Review of the Implementation of Integrated Governance.
                      Discussion of the Company’s Work Plan and Budget Year 2025.
                      Discussion of the Company’s Work Plan and Budget Year 2025.
 Quarter IV           Monthly Review of Bank Performance.
                      Quarterly Review of the Performance of the Bank and its Subsidiaries for the period of Q3/2024.
                      Quarterly Review of Risk Profile, Business Activities, IT, HR, and Other Strategic Initiatives for the period of Q3/2024.
                      Approval of the 2025 Corporate Work Plan & Budget, 2025-2027 Bank Business Plan, 2025-2029 Sustainable Finance Action
                      Plan, 2024 Recovery Plan Update, and 2024 Resolution Plan Update




 Board of Commissioners Meetings Frequency & Agenda
 In 2023, the Board of Commissioners has convened 29 meetings, with the following attendance and agenda:




                                                                                                                               ANNUAL REPORT 2023         579
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      BOARD OF COMMISSIONERS


                               Board of Commissioners Meetings Agenda and Attendance
      No.          Date                                      Meeting Agenda                                     Quorum     Reasons for Absence
       1.   5 January 2023       Update on Bank Mandiri’s Annual GMS Plan for Financial Year 2022.               90%     Absence: Muhammad Yusuf
                                                                                                                             Ateh (Permission)
       2.   19 January 2023      Approval of the proposed Standard Operating Procedure (SOP) for Social          100%
                                 & Environmental Responsibility (CSR).
       3.   24 January 2023      • Review of the Consolidated Financial Statements of Bank Mandiri and           100%
                                   Subsidiaries for the Year ended 31 December 2022 (Audited).
                                 • Approval of the Work Plan of the Board of Commissioners and Supporting
                                   Committee of the Board of Commissioners for 2023.
       4.   2 February 2023      • Approval of Proposed Provision of Related Party Funds.                        100%
                                 • Approval of the Proposal of Public Accountant Firm (KAP) for Audit
                                   Services of Consolidated Financial Statements for the Financial Year 2023.
       5.   9 February 2023      Approval of the Proposed Nomination of Board of Directors Candidates            100%
                                 for the Bank Mandiri Annual GMS for the Financial Year 2022.
       6.   16 Februari 2023     Approval of the Proposed Nomination of Candidates for Board of Directors in     100%
                                 the framework of the Bank Mandiri Annual GMS for the Financial Year 2022.
       7.   23 Februari 202      Approval of Talent Pool Proposal.                                               100%
       8.   27 Februari 2023     Approval of Talent Pool Proposal.                                               100%
       9.   9 March 2023         • Approval of the Proposed Benefit Provision for Bank Mandiri Pension           100%
                                   Fund Year 2023.
                                 • Approval of the Proposed Remuneration of Board of Directors and Board
                                   of Commissioners in 2023, as well as Tantiem and Long-Term Incentive
                                   (LTI) for Financial Year 2022.
                                 • Approval of the Proposed Appointment of Independent Consultant for
                                   the Review of Bank Mandiri’s Internal Audit Function/Quality Assurance
                                   Review (QAR) for the Year 2023.
       10. 16 March 2023         Approval of the Determination of Membership of the BOC Committee                89%       Absence: Faried Utomo
                                 after the Annual GMS of the Financial Year 2022.                                               (Permission)
       11. 30 March 2023         Approval of the Proposal to Update Operational Policy (KOPR) and Risk           78%       Absence: Loeke Larasati
                                 Management Policy (KMNR).                                                                 Agoestina (Permission),
                                                                                                                          Faried Utomo (Permission)
       12. 17 April 2023         Approval of the Proposed Representatives of the Company as Members              89%        Absence: Nawal Nely
                                 of the Board of Commissioners and Directors of Subsidiary Companies.                           (Permission)
       13. 18 April 2023         Review of Consolidated Financial Statements as of 31 March 2023.                100%
       14. 11 May 2023           • Approval of the Proposed Alignment of Bank Mandiri’s Organizational           100%
                                   Structure.
                                 • Approval of the Proposal to Extend the Timeframe for Fulfillment of OJK
                                   Follow-up Commitments.
       15. 22 May 2023           Approval of the Proposal to Extend the Period of Fulfillment of OJK Follow-     100%
                                 Up Commitments.
       16. 25 May 2023           Approval of the Proposed Representatives of the Company as Members              100%
                                 of the Board of Commissioners and Directors of Subsidiary Companies.
       17. 13 June 2023          Approval of the Revision of Company Work Plan & Budget (RKAP) Year              100%
                                 2023 and Bank Business Plan (RBB) Year 2023 - 2025.
       18. 13 July 2023          Approval of the Proposal to Extend the Period of Fulfillment of OJK Follow-     67%      Absence: Rionald Silaban
                                 Up Commitments.                                                                                 (Permission),
                                                                                                                           Nawal Nely (Permission),
                                                                                                                          Faried Utomo (Permission)
       19   20 July 2023         • Review of Consolidated Financial Statements as of 30 June 2023.               89%        Absence: Nawal Nely
                                 • Approval of Proposed Provision of Related Party Funds.                                       (Permission)
       20   27 July 2023         • Approval of the Proposed Representatives of the Company as Directors          100%
                                   of Subsidiary Companies.
                                 • Approval of the Proposed Adjustment of Bank Mandiri’s Organizational
                                   Structure.
       21   3 August 2023        Approval of Proposed Provision of Related Party Funds.                          89%     Absence: Arief Budimanta
                                                                                                                               (Permission)
       22   31 August 2023       Approval of Proposed Provision of Related Party Funds.                          100%
       23   14 September 2023    • Approval of LTI Proposal.                                                     100%
                                 • Approval of Proposed Provision of Related Party Funds.
                                 • Approval of Proposed Provision of Related Party Funds
       24   21 September 2023    Approval of the Proposal to Extend the Period of Fulfillment of OJK Follow-     100%
                                 Up Commitments.
       25   26 October 2023      • Approval of the proposed 2023 Recovery Plan Update.                           100%
                                 • Review of Consolidated Financial Statements as of 30 September 2023.

580   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
 GOVERNANCE                              & PRACTICES                                    RESPONSIBILITY                                      STATEMENTS 2023




                                                                                                                    BOARD OF COMMISSIONERS


                                Board of Commissioners Meetings Agenda and Attendance
  No.             Date                                                Meeting Agenda                                      Quorum             Reasons for Absence
  26. 16 November 2023              • Approval of the Proposed RKAP Year 2024 and RBB Year 2024-2026.                          91%          Absence: Heru Kristiyana
                                    • Approval of the proposed Sustainable Finance Action Plan (RAKB)                                            (Permission)
                                      Year 2024-2028.
                                    • Approval of the Proposed Provision of Related Party Funds.
  27. 23 November 2023              Approval of the Proposed Dismissal and Appointment of Group Head                          100%
                                    Corporate Secretary.
  28. 13 December 2023              • Approval of the Proposed Representatives of the Company as Members                       91%             Absence: Nawal Nely
                                      of the Board of Commissioners and Directors of Subsidiary Companies.                                         (Permission)
                                    • Approval of the Key Performance Indicator (KPI) of the Board of Directors
                                      Collegial and Individual in 2023
  29. 21 Desember 2023              • Approval of the Proposal for the Second Extension of the Period of                       82%          Absence: Loeke Larasati
                                      Fulfillment of FSA Follow-up Commitments.                                                             Agoestina (Permission),
                                    • Approval of the Annual Audit Plan (AAP) Proposal and SKAI Budget                                      Nawal Nely (Permission)
                                      Allocation for 2024.


 Joint Meetings
 Pursuant to POJK No. 33/2014, the Board of Commissioners shall conduct joint meeting with the Board of Directors
 periodically at least once in every 4 (four) months. In 2023, the Board of Commissioners and Board of Directors joint
 meetings were held 12 (twelve) times with the attendance as follows:

  Joint Meeting of the Board of Commissioner and the Board of Directors
  No.               Date                            Meeting Agenda                       Kuorum                               Reasons for Absence
    1.    24 January 2023             2022 Financial Performance                          100%
    2.    23 February 2023            January 2023 Financial Performance                   80%        Absence: Muliadi Rahardja (Permission)
    3.    16 March 2023               February 2023 Financial Performance                  78%        Absence: Rionald Silaban (Permission), Faried Utomo (Permission)
    4.    18 April 2023               March 2023 Financial Performance                    100%
    5.    25 May 2023                 April 2023 Financial Performance                    100%
    6.    13 June 2023                May 2023 Financial Performance                      100%
    7.    20 July 2023                June 2023 Financial Performance                     100%
    8.    24 August 2023              July 2023 Financial Performance                     100%
    9.    27 September 2023           August 2023 Financial Performance                   100%
   10.    26 October 2023             September 2023 Financial Performance                100%
   11.    22 November 2023            October 2023 Financial Performance                  100%
   12.    21 December 2023            November 2023 Financial Performance                  73%        Absence: Loeke Larasati Agoestina (Permission),
                                                                                                      Nawal Nely (Permission), Zainudin Amali (Permission)



                                               Frequency and Attendance of the Board of Commissioners Meetings
                                                                                                 BOC Meetings                        Joint Meetings of BOC & BOD
              Name                                      Position
                                                                                     Total Meetings    Attendance       (%)      Total Meetings     Attendance     (%)
  Muhamad Chatib Basri               President Commissioner/                              29                 29         100            12               12       100
                                     Independent
  Andrinof A. Chaniago               Vice President Commissioner/                         29                 29         100            12               12       100
                                     Independent
  Boedi Armanto*)                    Independent Commissioner                              9                 9          100            2                2        100
  Loeke Larasati Agoestina           Independent Commissioner                             29                 27         93             12               12       100
  Muliadi Rahardja                   Independent Commissioner                             29                 29         100            12               11         92
  Heru Kristiyana**)                 Independent Commissioner                              8                 7          88             5                5        100
  Zainudin Amali**)                  Independent Commissioner                              4                 4          100            2                2        100
  Rionald Silaban                    Commissioner                                         29                 28         97             12               11         92
  Arif Budimanta                     Commissioner                                         29                 28         97             12               12       100
  Nawal Nely                         Commissioner                                         29                 24         83             12               11         92
  Faried Utomo                       Commissioner                                         29                 27         93             12               11         92
  Muhammad Yusuf Ateh                Commissioner                                         29                 27         93             12               12       100
  *) Ended his tenure effective as of the Annual GMS dated 14 March 2023.
  **) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.


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      BOARD OF COMMISSIONERS



      IMPLEMENTATION OF DUTIES                                                 No.                 OJK                       Kementerian BUMN

      AND RESPONSIBILITIES OF THE                                              2.     Letter No. KOM/094/2023
                                                                                      dated 18 August 2023
                                                                                                                       Letter No. KOM/009/2023 dated
                                                                                                                       31 January 2023 concerning
      BOARD OF COMMISSIONERS                                                          concerning Bank Business Plan    Response to the Performance
                                                                                      Supervision Report 2023 – 2025   Report and Realization of Key
                                                                                      of PT Bank Mandiri (Persero)     Performance Indicators (KPI) of
      Frequency and Procedures of advice                                              Tbk Semester I of 2023.          PT Bank Mandiri (Persero) Tbk
      to the Board of Directors                                                                                        Year 2022.
      The advisory from the Board of Commissioners to the                                                              Letter No. KOM/053/2023
                                                                                                                       dated 28 April 2023 concerning
      Board of Directors is carried out both formally through
                                                                                                                       Response to Per for mance
      the meetings and informally in non-meetings. The formal                                                          Report and Realization of Key
      meetings consisted of 3 (three) types, which are:                                                                Performance Indicators (KPI) of
                                                                                                                       PT Bank Mandiri (Persero) Tbk until
      1. The meetings of Supporting Committee of the Board                                                             Quarter I/2023.
         of Commissioners, consisting of the Audit Committee                                                           Letter No. KOM/085/2023
         Meetings, Risk Oversight Committee Meetings,                                                                  dated 31 July 2023 concerning
         Integrated Governance Committee Meetings and                                                                  Response to Per for mance
                                                                                                                       Report and Realization of Key
         Remuneration and Nomination Committee Meetings.                                                               Performance Indicators (KPI) of
      2. Meeting of the Board of Commissioners (RAKOM),                                                                PT Bank Mandiri (Persero) Tbk until
                                                                                                                       Quarter II/2023
         which is an internal meeting of the Board of
                                                                                                                       Letter No. KOM/129/2023 dated
         Commissioners and/or by inviting the Director of the                                                          30 October 2023 concerning
         related field.                                                                                                Response to Per for mance
      3. Meeting of the Board of Commissioners with the Board                                                          Report and Realization of Key
                                                                                                                       Performance Indicators (KPI) of
         of Directors (RAKOMDIR), namely the Joint Meeting of                                                          PT Bank Mandiri (Persero) Tbk until
         the Board of Commissioners and the Board of Directors.                                                        Quarter III/2023.


      Board of Commissioners Supervisory on the
      Implementation of Corporate Strategy                                     Report on supervision of the implementation of the
      Pursuant to OJK Regulation No. 5/POJK.03/2016 concerning                 Bank’s Business Plan submitted to OJK and Responses
      the Bank Business Plans, the Board of Commissioners shall                to the Achievement of the Bank’s Performance and KPI
      carry out supervision on the implementation of the Bank                  submitted to the Ministry of SOEs includes reports on:
      Business Plan that includes policies and management                      1. Assessment of the Board of Commissioners regarding
      strategies. The results of the supervision are set forth in the              the implementation of the Bank Mandiri Business
      Supervision Report on the Implementation of the Bank’s                       Plan in the form of evaluating both quantitative and
      Business Plan which is submitted to the Financial Services                   qualitative aspects of the realization of the Business
      Authority every half year.                                                   Plan.
                                                                               2. The Board of Commissioners’ assessment of the factors
      In addition, the Board of Commissioners also submit                          that affect Bank Mandiri’s performance in general,
      Supervision Report on Performance and KPI Achievement                        particularly regarding capital, profitability, risk profiles,
      quarterly to the Ministry of SOEs as Dwiwarna Series A                       especially credit risk, market risk, and liquidity risk.
      Shareholders. In 2023, the Board of Commissioners has                    3. Assessment of the Board of Commissioners regarding
      prepared and submitted the following Supervision Report                      efforts to improve the performance of Bank Mandiri, in
      on the Implementation of the Bank’s Business Plan:                           the case that according to the assessment concerned
                                                                                   the performance of the Bank as referred to in point 2
      No.               OJK                       Kementerian BUMN                 above has decreased.
      1.    Letter No. KOM/019/2023 dated    Letter No. KOM/009/2023 dated
            19 February 2023 concerning      31 January 2023 concerning        The assessment of the Board of Commissioners in points 1-3
            Bank Business Plan Supervision   Response to the Performance
            Report 2022 – 2024 of PT Bank    Report and Realization of Key     was also complemented with external factors assessment
            Mandiri (Persero) Tbk Second     Performance Indicators (KPI) of   affecting the Bank’s performance.
            Semester of 2022.                PT Bank Mandiri (Persero) Tbk
                                             Year 2022.




582   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
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                                                                                        BOARD OF COMMISSIONERS



 Board of Commissioners Duties Implementation                              i.   Recovery Plan and Resolution Plan and its updates,
 The Board of Commissioners carried out its duties,                             including providing approval; and
 obligations and responsibilities in order to oversee the                  j. implementation of the Company’s Social &
 policies and the management of the Company which                               Environmental Responsibility (CSR) Program.
 are determined based on prevailing laws and regulations,              4. Conducted regular monitoring of HR planning
 the Company’s Articles of Association and Work Plans                      (Manpower Planning) in line with the Corporate Plan,
 established at the beginning of the year.                                 RBB, as well as the tangible needs of long-term business
                                                                           development, particularly in IT, Credit and Risk.
                                                                       5. Conducted regular monitoring of the implementation
 The duties, obligations and responsibilities are undertaken               of several Corporate Actions of the Company and
 through the Board of Commissioners Meetings, Joint                        Subsidiaries during 2023.
 Meetings with the Board of Directors, or Joint Meetings               6. Conducted regular monitoring of performance
 and Evaluations of supporting committees of the Board of                  developments and risk mitigation of Subsidiaries/ Sub-
 Commissioners. The implementation of duties of the Board                  Subsidiaries, as well as synergy development during
 of Commissioners during 2023 were as follows:                             2023.
 1. Supervised the policies and management carried                     7. Provided direction, monitored the preparation, and
     out by the Board of Directors during 2023, including                  gave approval, among others, to the proposed RKAP
     supervision of the implementation of the Company’s                    in 2024, RBB in 2024-2026, RAKB in 2024-2028, and the
     Work Plan and Budget (RKAP) for 2023, Bank Business                   initiation of the Recovery Plan in 2023.
     Plan (RBB) for 2023 – 2025, Sustainable Finance Action            8. Followed the development of the Company’s
     Plan (RAKB) for 2023-2027, and IT Strategic Plan.                     activities, provided opinions and recommendations to
 2. Ensured that good governance has been implemented                      the Board of Directors regarding issues considered vital
     effectively and sustainably.                                          and material for the management of the Company,
 3. Conducted active supervision and evaluation of at                      including related to the results of internal and external
     least:                                                                audits during 2023.
     a. followed-up of the Board of Directors on audit                 9. Proposed the appointment of a Public Accountant
         findings and recommendations from the                             (AP) and/or Public Accounting Firm (KAP) that will audit
         Company’s Internal Audit Unit, External Auditor,                  the Consolidated Financial Statements ending on 31
         supervision results of the Financial Services Authority           December 2023 to the Annual GMS for Fiscal Year 2022.
         and/or supervision results of other authorities and           10. Reviewed the audit conducted by KAP Tanudiredja,
         institutions;                                                     Wibisana, Rintis & Rekan (PwC) on Bank Mandiri’s
     b. implementation of the compliance function;                         Financial Statements for Fiscal Years 2022 and 2023.
     c. implementation of Risk Management and                          11. Reviewed the talent pool and every proposal of
         Capital Management in an integrated manner                        prospective members of the Board of Directors and
         in accordance with the characteristics and                        members of the Board of Commissioners that will be
         complexity of the Financial Conglomerate business                 proposed at the GMS.
         in the Company;                                               12. Evaluated the performance of the Board of Directors
     d. the effectiveness of the implementation of the                     during 2023 periodically and review the achievements
         Anti-Fraud Strategy (SAF) and the implementation                  of the KPIs of the Board of Directors and the Board of
         of the code of ethics, among others, related to the               Commissioners.
         prevention of Fraud for all levels of the organization;       13. Reviewed and provided decisions on every proposal/
     e. implementation of Anti-Money Laundering                            action of the Board of Directors which must obtain
         Program, Prevention of Financing of Terrorism, and                written approval from the Board of Commissioners
         Prevention of Financing of Proliferation of Weapons               based on prevailing laws and regulations and the
         of Mass Destruction;                                              Articles of Association.
     f. implementation of Remuneration policy;                         14. Ensured that the Board of Directors develops and
     g. Information Technology (IT) strategic plan and                     maintains an adequate, effective, and efficient
         implementation of IT governance;                                  Internal Control System (SPI), as well as reviews
     h. policies and strategic plans for risk management                   the effectiveness and efficiency of SPI based on
         related to cybersecurity;                                         information obtained from the Audit Committee and
                                                                           Internal Audit Unit.




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      BOARD OF COMMISSIONERS



      15. Approved the proposal on termination and appointment of Corporate Secretary.
      16. Approved the proposal of Independent Consultant to Review the Bank Mandiri Internal Audit Function/Quality
          Assurance Review (QAR) Year 2023, as well as Annual Audit Plan (AAP) proposal and Budget Allocation of Internal
          Audit Unit Year 2024.
      17. Submitted reports on the results of supervision and recommendations for improvement on the realization of RBB
          which are then submitted to OJK every semester and to the Ministry of SOEs every quarter.
      18. Held 29 (twenty-nine) meetings of the Board of Commissioners both internal meetings and with the Director of related
          fields to discuss certain aspects of the concern of the Board of Commissioners.

      Recommendations and Decisions of the Board of Commissioners
      Throughout 2023 the Board of Commissioners has provided recommendations and performed the duties and responsibilities
      through the following forums:
      1. Board of Commissioners Meeting
      2. Joint meetings of the Committees under the Board of Commissioners
      3. On site Visit of the Board of Commissioners together with Committees under the Board of Commissioners

      During 2023, the Board of Commissioners issued 35 approval letters and 8 (eight) decrees, among others the approval
      of funding to related parties, approval of corporate actions, as well as other approvals under the authority of the Board
      of Commissioners as stipulated in the Articles of Association and prevailing regulations. Some of the agreements were
      as follows.

       No.         Letter Date                                                          Subject
        1.   24 January 2023     Approval of Proposed Standard Operating Procedures (SOP) for Social & Environmental Responsibility (TJSL)
        2.   6 February 2023     Approval of Bank Mandiri's Proposed Provision of Related Party Funds
        3.   28 February 2023    Approval on Independent Consultant to Review Bank Mandiri's 2023 Long Term Incentive (LTI) Proposal


        4.   7 March 2023        Approval of Bank Mandiri's Recovery Plan Initiation Proposal for 2022-2023
        5.   13 March 2024       Approval of Bank Mandiri's Pension Fund Benefit Proposal in 2023
        6.   3 April 2023        Approval of Bank Mandiri's Proposed Operational Policy and Risk Management Policy Update
        7.   18 April 2023       Submission of Review Results of Bank Mandiri's Consolidated Financial Statements and Subsidiaries for the Three-
                                 Month Period Ended 31 March 2023
        8.   18 April 2023       Approval of the Proposal of the Management of the Subsidiary Company
        9.   18 April 2023       Approval of the Proposal of the Management of the Subsidiary Company
       10.   15 May 2023         Approval of Bank Mandiri's Organizational Structure Alignment Proposal
       11.   24 May 2023         Approval of the Proposed Extension of the Period for Fulfilling Commitments to Follow Up on OJK Findings
       12.   29 May 2023         Approval of the Proposal of the Management of the Subsidiary Company
       13.   29 May 2023         Approval of the Proposal of the Management of the Subsidiary Company
       14.   16 June 2023        Approval of RKAP Revision Year 2023 and RBB Revision Year 2023 - 2025
       15.   20 June 2023        Approval of the Proposal of the Management of the Subsidiary Company
       16.   24 July 2023        Approval of the Proposed Extension of the Period for Fulfilling Commitments to Follow Up on OJK Findings
       17.   24 July 2023        Approval of Bank Mandiri's Proposed Provision of Related Party Funds
       18.   31 July 2023        Approval of the Proposal of the Management of the Subsidiary Company
       19.   31 July 2023        Approval of the Proposal of the Management of the Subsidiary Company
       20.   7 August 2023       Approval of Bank Mandiri's Proposed Provision of Related Party Funds
       21.   18 August 2023      Approval of the Proposal of the Management of the Subsidiary Company
       22.   6 September 2023    Approval of Bank Mandiri's Proposed Provision of Related Party Funds.
       23.   22 September 2023   Approval of Bank Mandiri's Proposed Provision of Related Party Funds
       24.   25 September 2023   Approval of the Proposed Extension of the Period for Fulfilling Commitments to Follow Up on OJK Findings
       25.   12 October 2023     Approval of Bank Mandiri's Proposed Provision of Related Party Funds




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GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                                    STATEMENTS 2023




                                                                                                     BOARD OF COMMISSIONERS


  No.        Letter Date                                                                Subject
  26.   22 November 2023         Approval of the Proposed Sustainable Finance Action Plan (RAKB) for 2024 – 2028
  27.   22 November 2023         Approval of Bank Mandiri's Proposed Provision of Related Party Funds
  28.   28 November 2023         Approval of Dismissal and Appointment of Corporate Secretary
  29.   29 November 2023         Approval of RKAP Proposal for 2024 and RBB for 2024 – 2026
  30.   11 December 2023         Approval of Bank Mandiri's Treasury, Funds, and Services Policy and Credit Policy
  31.   19 December 2023         Approval of the Proposal of the Management of the Subsidiary Company
  32.   19 December 2023         Approval of Key Performance Indicator (KPI) Proposal for Collegial and Individual Directors in 2023
  33.   21 December 2023         Approval of the Proposal of the Management of the Subsidiary Company
  34.   22 December 2023         Approval of SKAI's 2024 Annual Audit Plan and Budget Allocation Proposal
  35.   22 December 2023         Approval of the Proposed Extension of the Period for Fulfilling Commitments to Follow Up on OJK Findings


 The Decrees issued by the Board of Commissioners during 2023 were as follows:
  No.            Letter Date                                                               Subject
   1.    29 March 2023                  Composition of Audit Committee, Risk Oversight Committee, Integrated Governance Committee, and
                                        Remuneration and Nomination Committee of PT Bank Mandiri (Persero) Tbk.
   2.    25 August 2023                 Composition of Audit Committee, Risk Oversight Committee, Integrated Governance Committee, and
                                        Remuneration and Nomination Committee of PT Bank Mandiri (Persero) Tbk.
   3.    13 September 2023              Remuneration of Supporting Organs of the Board of Commissioners of PT Bank Mandiri (Persero) Tbk.
   4.    12 October 2023                Remuneration & Nomination Committee Charter of PT Bank Mandiri (Persero) Tbk.
   5.    12 October 2023                Integrated Governance Committee Charter of PT Bank Mandiri (Persero) Tbk.
   6.    12 October 2023                Audit Committee Charter of PT Bank Mandiri (Persero) Tbk.
   7.    12 October 2023                Risk Oversight Committee Charter of PT Bank Mandiri (Persero) Tbk.
   8.    30 November 2023               The Board of Commissioners Charter of PT Bank Mandiri (Persero) Tbk.



 RISK MANAGEMENT CERTIFICATION

 As stipulated in Bank Indonesia Regulation No. 12/7/PBI/2010 on Risk Management Certification for Management
 and Executives of Commercial Banks and Financial Services Authority Circular No. 28/SEOJK.03/2022 concerning Risk
 Management Certification for Commercial Bank Human Resources, Bank Management (Board of Commissioners
 and Board of Directors) must have a Risk Management Certificate issued by a Professional Certification Body, with the
 following classification:

  No.                                               Position                                                      Level                 Validity
   1.   Commissioner                                                                                         Minimum Level 1            4 years
   2.   Independent Commissioner                                                                             Minimum Level 2            4 years
   3.   President Director and Director of the Bank with assets >Rp10 trillion                                       5                  2 years



 In the event that the validity period of the certification has expired, a periodic Refreshment Program must be carried
 out at least:
 1. once every year for level 1 and 2; or
 2. once every year for level 3, 4, and 5.

 Therefore, Bank Mandiri’s Independent Commissioners must pass Risk Management Certification level 2 while non-
 Independent Commissioners must pass Risk Management Certification level 1. The list of Board of Commissioners who
 have passed risk management certification is as follows:




                                                                                                                               ANNUAL REPORT 2023   585
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      BOARD OF COMMISSIONERS


                                                                                                               Date certificate
           Name               Position      Certificate Issuing Institution       Level       Fields/Areas                          Expired date
                                                                                                                   issued
      Muhamad             President        Banking Profession Certification   1              Risk            11 February 2020      11 February 2024
      Chatib Basri        Commissioner/    Institution (LSPP)                                Management
                          Independent
                                           Banking Profession Certification   2              Risk            21 February 2020      21 February 2024
                                           Institution (LSPP)                                Management
                                           Bara Risk Forum                    Refreshment    Risk            26 July 2023          26 July 2024
                                                                                             Management
      Andrinof A.         Vice President   Banking Profession Certification   1              Risk            8 April 2017          8 April 2021
      Chaniago            Commissioner/    Institution (LSPP)                                Management
                          Independent
                                           Banking Profession Certification   2              Risk            21 April 2017         21 April 2021
                                           Institution (LSPP)                                Management
                                           Banking Profession Certification   Refreshment    Risk            25 September 2020     25 September
                                           Institution (LSPP)                                Management                            2022
                                           BARA Risk Forum                    Refreshment    Risk            24 June 2022          24 June 2024
                                                                                             Management
                                           BARA Risk Forum                    Refreshment    Risk            11 November 2022      11 November
                                                                                             Management                            2024
                                           Indonesia Banking                  Refreshment    Risk            29 September 2023     29 September
                                           Development Institution (LPPI)                    Management                            2024
      Loeke Larasati      Independent      Banking Profession Certification   1              Risk            1 November 2019       1 November
      Agoestina           Commissioner     Institution (LSPP)                                Management                            2023
                                           Banking Profession Certification   2              Risk            20 April 2020         20 April 2024
                                           Institution (LSPP)                                Management
                                           BARA Risk Forum                    Refreshment    Risk            23 March 2022         23 March 2024
                                                                                             Management
                                           BARA Risk Forum                    Refreshment    Risk            24 June 2022          24 June 2024
                                                                                             Management
                                           BARA Risk Forum                    Refreshment    Risk            26 July 2023          26 July 2024
                                                                                             Management
      Muliadi Rahardja    Independent      Banking Profession Certification   1              Risk            14 June 2022          14 June 2026
                          Commissioner     Institution (LSPP)                                Management
                                           Banking Profession Certification   2              Risk            21 June 2022          21 June 2022
                                           Institution (LSPP)                                Management
                                           BARA Risk Forum                    Refreshment    Risk            24 June 2022          24 June 2024
                                                                                             Management
                                           BARA Risk Forum                    Refreshment    Risk            26 July 2023          26 July 2024
                                                                                             Management
      Heru Kristiyana*)   Independent      Banking Profession Certification   5              Risk            7 June 2022           7 June 2024
                          Commissioner     Institution (LSPP)                                Management
                                           BARA Risk Forum                    Refreshment    Risk            24 August 2023        24 August 2025
                                                                                             Management
                                           IBI – MBE UGM                      Refreshment    Risk            5 November 2023       5 November
                                                                                             Management                            2024
                                           Indonesia Banking                  Refreshment    Risk            29 November 2023      29 November
                                           Development Institution (LPPI)                    Management                            2024
      Zainudin Amali*)    Independent      Indonesia Banking                  Training       Risk            5 June 2023           5 June 2025
                          Commissioner     Development Institute (LPPI)                      Management
                                           BARA Risk Forum                    Refreshment    Risk            24 August 2023        24 August 2025
                                                                                             Management
      Rionald Silaban     Commissioner     Banking Profession Certification   1              Risk            14 November 2019      14 November
                                           Institution (LSPP)                                Management                            2023
                                           BARA Risk Forum                    Refreshment    Risk            24 August 2023        24 August 2024
                                                                                             Management
      Faried Utomo        Commissioner     Banking Profession Certification   1              Risk            8 May 2020            8 May 2024
                                           Institution (LSPP)                                Management
                                           BARA Risk Forum                    Refreshment    Risk            24 August 2023        24 August 2024
                                                                                             Management




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GOVERNANCE
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                                                                                                     BOARD OF COMMISSIONERS


                                                                                                                 Date certificate
       Name                Position         Certificate Issuing Institution         Level       Fields/Areas                            Expired date
                                                                                                                     issued
 Arif Budimanta       Commissioner         Banking Profession Certification    1              Risk             13 March 2020           13 March 2025
                                           Institution (LSPP)                                 Management
                                           BSMR                                Refreshment    Risk             22 February 2023        22 February 2024
                                                                                              Management
 Nawal Nely           Commissioner         Banking Profession Certification    1              Risk             21 April 2020           21 April 2024
                                           Institution (LSPP)                                 Management
                                           BARA Risk Forum                     Refreshment    Risk             24 August 2023          24 August 2025
                                                                                              Management
                                           IBI - MBA UGM                       Refreshment    Risk             5 November 2023         5 November
                                                                                              Management                               2024
 Muhammad             Commissioner         Banking Profession Certification    1              Risk             14 Juni 2021            14 June 2024
 Yusuf Ateh                                Institution (LSPP)                                 Management
                                           BARA Risk Forum                     Refreshment    Risk             24 August 2023          24 August 2024
                                                                                              Management
  *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




 Risk Management Certificate Equalization and Alignment
 SEOJK No. 28/SEOJK.03/2022 also regulates the equalization and alignment of risk management certificates for
 management and executives of commercial banks by:
 1. SKKNI in the field of Banking Risk Management, in accordance with the Decree of the Minister of Manpower of the
    Republic of Indonesia No. 218 of 2020 concerning the Establishment of Indonesian National Work Competency
    Standards (SKKNI) in the category of Financial Activities and Insurance of the Main Group of Financial Services
    Activities, Non-Insurance and Pension Funds in the Field of Banking Risk Management; and
 2. KKNI in the field of Banking Risk Management as Decree of Members of the Board of Commissioners of the Financial
    Services Authority No. KEP-18/D.02/2021 concerning the Indonesian National Qualification Framework (KKNI) in the
    Field of Banking Risk Management.

 BOARD OF COMMISSIONERS PERFORMANCE ASSESSMENT

 The performance of the Board of Commissioners is undertaken through self-assessment and reported to the GMS, where
 the performance of the Board of Commissioners is presented through a report on the implementation of the duties to the
 Shareholders. The GMS further grants the release and discharge of the total responsibility to the Board of Commissioners
 and Board of Directors of the Company for the oversight and management during the Fiscal Year.
                       Procedures of Performance Self-Assessment of the Board of Commissioners




        Defining Aspects                          Conduct self-                         Reporting the                  Accountability
                                                                                        performance
         of Supervision                            assessment                           assessment of                   accepted /
                                                    method                               the Board of                 rejected by the
                                                                                      Commissioners in the
                                                                                                                           GMS
                                                                                             GMS

                   1                                       2                                   3                                4
      1. Risl Profile                                                                                            Remuneration (Tantiem)
      2. Good Corporate
         Governance
      3. Profitability
      4. Bank Capital




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      BOARD OF COMMISSIONERS



      Board of Commissioners’ Performance Assessment Criteria and Results
      The Board of Commissioners’ performance assessment is measured by the achievement of Key Performance Indicators
      (KPIs) that have been prepared at the beginning of the year, which include aspects of Planning, Supervision and Advice,
      Reporting, and Business Dynamics. The following are the achievements of the Board of Commissioners’ KPI in 2023:
                                                                                               Output    Output
       No              Aspects and Parameters                Period    Output Unit   Weight                           Value    Achievement
                                                                                                Plan    Realization
      I. Planning Aspects
              Preparing Work Plan and Budget and KPI         Annual    Document        10        1          1           10        100%
              2022 of the Board of Commissioners
       Sub Total I                                                                     10                               10        100%
      II. Supervisory and Advisory Aspects
         1    Provide feedback/recommendations to
              Shareholders on:
              a. Company Work Plan and Budget                Annual      Letter        5         1          1           5         100%
              b. Annual Report                               Annual      Letter        5         1          1           5         100%
              c. Quarterly Performance Analysis              Quarter     Letter        5         3          3           5         100%
              d. Bank Business Plan                           Year       Letter        5         1          1           5         100%
         2    Provide approval and advice to the Board        Year      Letter/        10        10         30          11        110%
              of Directors in accordance with the field of              Minutes
              duty of the Board of Commissioners
         3    Board of Commissioners Meeting
              a. Number of Meetings                          Monthly      Time         12        12         41         13,2       110%
              b. Meeting Attendance                          Monthly       %           5        100         96          4,8       96%
              c. Meeting Minutes Resolution                  Monthly    Minutes        5         12         41          5,5       110%
         4    Board of Commissioners Working Visit            Year        Visit        8         2          6           8,8       110%
       Sub Total II                                                                    60                              63,3       106%
      III. Reporting Aspects
         1    Annual Board of Commissioners Supervisory      Annual      Report        10        1          1           10        100%
              Report
       Sub Total III                                                                   10                               10        100%
      IV. Dynamic Aspects
         1    External Auditor Proposal to Shareholders      Annual      Letter        5         1          1           5         100%
         2    Competency Improvement through                 Annual       Time         10        2          5           11        110%
              seminars, workshops, etc.
         3    GCG assessment results of the Board            Annual    Category        5       Good      Excellent      5         110%
              of Commissioners (self-assessment/
              Independent Consultant)
       Sub Total IV                                                                    20                               21        105%
       Grand Total                                                                    100                              104,3      104%


      Assessors
      The Board of Commissioners carried out self-assessment to its performance in 2023.

      PERFORMANCE ASSESSMENT OF THE COMMITTEES UNDER THE
      BOARD OF COMMISSIONERS AND ASSESSMENT BASIS

      Pursuant to POJK No. 55/POJK.04/2015 on the Establishment and Audit Committees Charter, POJK No. 34/POJK.04/2014
      of 2014 on Nomination and Remuneration Committee of Issuers or Public Companies, POJK No. 18/POJK.03/2014 on
      the Implementation of Integrated Governance for Financial Conglomerates, POJK No. 17/2023 on the Governance
      Implementation for Commercial Banks, as well as SOE Minister Regulation No. PER-2/MBU/03/2023 on Guidelines of
      Governance and Significant Corporate Activities of State-Owned Enterprises, in carrying out its duties, the Board of
      Commissioners receives assistance from committees directly responsible to the Board of Commissioners. These committees
      execute their duties and responsibilities in accordance with the Committee Charter.




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                                                                                  BOARD OF COMMISSIONERS



 In implementing its oversight functions, the Bank’s Board       preparation of nomination process policies, criteria, and
 of Commissioners has established 4 (four) committees:           qualifications for prospective members of the Board of
 1. Audit Committee                                              Commissioners and Directors in line with the Company’s
 2. Remuneration and Nomination Committee                        strategic plan. Apart from identifying qualified candidates
 3. Risk Oversight Committee                                     for the Board of Commissioners, the Remuneration and
 4. Integrated Governance Committee                              Nomination Committee assists the Board of Commissioners
                                                                 in obtaining and analyzing data on prospective Board of
 The Board of Commissioners periodically (annually)              Directors candidates from the talent pool of executives
 evaluates the effectiveness of the committee’s                  one level below the Board of Directors.
 performance under the Board of Commissioners. Overall,
 based on the work programs outlined in the Work Plans           In addition to the nomination system, the Remuneration
 of each Committee in 2023, the Board of Commissioners           and Nomination Committee has also assisted the
 concludes that the four Committees have effectively             Board of Commissioners in proposing an appropriate
 executed their mandates. Furthermore, the Board of              remuneration system for the Board of Directors and Board
 Commissioners has accepted and incorporated each                of Commissioners of the Bank in the form of a payroll/
 committee’s recommendation in the decision-making               honorarium system, facilities/benefits, and tantiem for 2023.
 process on proposals put forth by the Board of Directors.
 Regarding communication, the four Committees                    The details information on the Remuneration and
 have established effective and robust channels of               Nomination Committee activities is presented in the sub-
 communication throughout 2023 in order to discuss on            chapter of Remuneration and Nomination Committee in
 matters pertaining to Bank Mandiri and the advancement          the Corporate Governance Chapter of this Annual Report.
 of subsequent settlements initiated by the Board of
 Directors.                                                      Risk Oversight Committee
                                                                 In 2023, The Risk Oversight Committee has provided input
 Audit Committee                                                 to the Board of Commissioners regarding the evaluation
 In 2023, the Audit Committee has provided the Board of          of risk management conducted by the Board of Directors.
 Commissioners with effective support in carrying out its        The Risk Oversight Committee held 25 meetings.
 oversight duties, which encompass internal and external
 audit functions, corporate governance implementation,           The details information on the Risk Oversight Committee
 and adherence to prevailing laws and regulations. The           activities is presented in the sub-chapter of Risk Oversight
 Audit Committee has held 28 meetings while carrying             Committee in the Corporate Governance Chapter of
 out its functions.                                              this Annual Report.

 The details information on the Audit Committee activities       Integrated Governance Committee
 is presented in the sub-chapter of Audit Committee in the       In 2023, the Integrated Governance Committee has
 Corporate Governance Chapter of this Annual Report.             convened 6 (six) meetings. The meeting results, include
                                                                 reviews, analysis as well as recommendations and agreed
 Remuneration and Nomination Committee                           decisions, have been stated in the meeting minutes and
 Through 12 meetings in 2023, the Remuneration and               well documented.
 Nomination Committee has provided the Board of
 Commissioners with recommendations/proposals for                The details information on the Integrated Governance
 candidates who meet the requirements as Members of              Committee activities is presented in the sub-chapter of
 the Board of Commissioners and Directors of the Bank            Integrated Governance Committee in the Corporate
 for submission to the GMS. The Committee obtained               Governance Chapter of this Annual Report.
 the proposal through a series of processes, included the




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            MAIN                       MANAGEMENT   COMPANY              MANAGEMENT DISCUSSION
            HIGHLIGHTS                 REPORT       PROFILE              AND ANALYSIS




      ORGAN AND COMMITTEES UNDER
      THE BOARD OF COMMISSIONERS




              In its supervisory functions, the Board of Commissioners is assisted
              by the Secretary to the Board of Commissioners and Committees.
              The Committees under the Board of Commissioners consist of the
              Audit Committee, Risk Oversight Committee, Remuneration and
              Nomination Committee, Risk Oversight Committee and other
              committees if required by taking into account the company’s
              capabilities.




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CORPORATE
 CORPORATE                ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                      RESPONSIBILITY                           STATEMENTS 2023




                                      SECRETARY TO THE BOARD OF
                                                 COMMISSIONERS




         The Bank’s Board of Commissioners has a Secretary to the Board of
         Commissioners appointed from external party, who is appointed
         and terminated by and responsible to the Board of Commissioners.




 Secretary to the Board of Commissioners of Bank Mandiri has the duty to carry out the secretarial duties of the Board
 of Commissioners. Based on SOE Minister Regulation No. PER-3/MBU/03/2023 on Organs and Human Resources of
 State-Owned Enterprises, the Board of Commissioners shall establish a Board of Commissioners Secretariat led by the
 Secretary to the Board of Commissioners whose duty is to assist in the efficient execution of administrative activities in
 the implementation of duties and responsibilities of the Board of Commissioners.

 Duties and Responsibilities
 Based on the Decree of the Board of Commissioners No. KEP. KOM/008/2023 concerning the Board of Commissioners
 Charter, the Secretary to the Board of Commissioners has the following duties and responsibilities:
 1. Prepare meetings, including briefing sheets for the Board of Commissioners;
 2. Develop minutes of meetings of the Board of Commissioners in line with the Articles of Association;
 3. Administer the Board of Commissioners’ documents, both incoming letters, outgoing letters, minutes of meetings
    and other documents;
 4. Prepare the draft work plan and budget for the Board of Commissioners;
 5. 5. Prepare draft reports of the Board of Commissioners; and
 6. 6. Carry out other duties of the Board of Commissioners.

 In addition to carrying out the duties as referred to above, the secretary to the Board of Commissioners as the head of
 the Secretariat of the Board of Commissioners carries out other duties, such as:
 1. Ensure that the Board of Commissioners complies with laws and regulations and applies the principles of good
     corporate governance;
 2. Provide information required by the Board of Commissioners periodically and/or at any time if requested;
 3. Coordinate committee members, if necessary, in order to expedite the duties of the Board of Commissioners; and
 4. As a liaison officer of the Board of Commissioners with other parties.



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             MAIN                            MANAGEMENT                       COMPANY                         MANAGEMENT DISCUSSION
             HIGHLIGHTS                      REPORT                           PROFILE                         AND ANALYSIS




      SECRETARY TO THE BOARD OF COMMISSIONERS



      Profile of Secretary to the Board of Commissioners
      The Secretary to the Board of Commissioners is currently held by M. Syaiful Anam who was appointed based on the
      Decree of the Board of Commissioners No. KEP. KOM/004/2022 dated 21 October 2022.


                                                         Educational Background
                                                         • Master of Management (Finance) Melbourne University (2021)
                                                         • Bachelor of Accounting, University of Indonesia (2010)
                                                         • Diploma in Accounting, State College of Accountancy (2005)

                                                         Professional Background
                                                         • Head of Personnel Ministry of SOEs (March 2022 – present)
                                                         • Coordinator on Energy, Oil and Gas Fronts Ministry of SOEs
                                                            (September 2021-March 2022)
                                                         • Member of Audit Committee of PT Angkasa Pura I (October 2021-
                                                            January 2022)
                                                         • Member of Nomination and Remuneration Committee of
                                                            PT Angkasa Pura II (January 2022-September 2022)
                                                         • Acting Head of Mining, Strategic Industries and Media Ministry of SOEs
                                                            (January 2019-September 2019)
                                                         • Head of Agro and Pharmaceutical Industry Business Sub-Division Ministry
                                                            of SOEs (July 2017-January 2019)
                                                         • Head of Construction Business Sub-division and Advice and Infrastructure
                                                            of Transportation Ministry of SOEs (October 2015-July 2017)
             M. Syaiful Anam                             • Secretary to the Supervisory Board of Perum BULOG (July 2019-
             Secretary to the Board of Commissioners        September 2019)
             Age: 39 Years old                           • Secretary to the Board of Commissioners of PT Pelindo II (Persero)
             Citizenship: Indonesian
                                                            (March 2017-July 2019)
                                                         • Secretary to the Board of Commissioners of PT Pelindo III (Persero)
                                                            (March 2014-March 2017)
                                                         • Secretary to the Board of Commissioners/Supervisory Board of
                                                            PT Askes (Persero)/BPJS Health (July 2012-March 2014)


      Competency Development
      The following are competency development participated by the Secretary to the Board of Commissioners during 2023:
       No.                                    Activity                                 Organizer                Tanggal
        1.   Mandiri Investment Forum 2023                                         Bank Mandiri              1 February 2023
        2.   Sharing Session: Cyber Attack                                         Bank Mandiri                8 June 2023
        3.   Refreshment Program: Cyber Security                                   BARa Risk Forum             26 July 2023

        4.   BOC Retreat: Economy Outlook 2024 & m-DNA                             Bank Mandiri             15 December 2023




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 CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                      RESPONSIBILITY                         STATEMENTS 2023




                                                      SECRETARY TO THE BOARD OF COMMISSIONERS



 Activities of Secretary to the                                 5. Administered correspondence between the Board
 Board of Commissioners                                            of Commissioners and Committees under the Board
 The Secretary to the Board of Commissioners is supported by       of Commissioners, including drafted the Board of
 the Staff and the Secretariat of the Board of Commissioners.      Commissioners’ approval on matters proposed by
 The following were work programs and realization in 2023:         the Board of Directors for approval by the Board of
 1. Prepared meeting materials, minutes of meetings,               Commissioners, including the proposal for the Provision
     and administer in an orderly manner the Board of              of Related Party Funds, the proposal for Corporate
     Commissioners’ Meetings, Meetings of Committees               Action, the proposal for the Public Accounting Firm
     under the Board of Commissioners, and Joint Meetings.         for audit for the 2023 financial year, the proposal for
 2. Provided input and information to the Board of                 the management of Bank Mandiri and Subsidiaries,
     Commissioners on matters of concern to the Board              the proposal for RKAP for 2024 and RBB for 2024-2026,
     of Commissioners, including policies and strategies of        RKAB proposal for 2024-2028, proposed Recovery Plan
     the Board of Directors in order to achieve strategic          update for 2023, and other actions of the Board of
     objectives in the 2023 RKAP, the implementation of risk       Directors that must obtain written approval from the
     management, IT governance, cybersecurity, digital             Board of Commissioners as stipulated in the Articles
     initiative development, GCG implementation, ESG,              of Association and applicable laws and regulations.
     HR development, audit findings and follow-up, Internal     6. Coordinated the participation of the Board of
     Control System, and Integrated Governance.                    Commissioners and Committees under the Board of
 3. Cooperated with Co wtmmittees under the Board of               Commissioners in training/ seminars/other competency
     Commissioners in fulfilling the obligations of the Board      development activities in accordance with the
     of Commissioners, including reports from the Board of         supervisory area of each Commissioner/Committee.
     Commissioners to the Regulator.                            7. Cooperated with the Corporate Secretary to prepare
 4. Coordinated the implementation of the Working Visit of         a new Commissioner orientation program.
     the Board of Commissioners and Committees under the        8. Carried out other duties to support the efficiency
     Board of Commissioners, including preparing Reports           of supervisory and advisory duties by the Board of
     on the Results of Visits.                                     Commissioners.




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            HIGHLIGHTS                 REPORT                       PROFILE                        AND ANALYSIS




      AUDIT COMMITTEE




              The Audit Committee has the duty and responsibility to providing
              opinions to the Board of Commissioners regarding reports and/
              or other matters submitted by the Board of Directors, as well as
              identifying matters that require the attention of the Board of
              Commissioners in the areas of Financial Statements, Internal Control,
              and Compliance.



      Legal Basis                                                Audit Committee Structure, Membership and Profile
      The establishment of the Audit Committee refers to:        The structure and membership of the Audit Committee
                                                                 are as follows:
      1. SOE Minister Regulation No. PER-2/MBU/03/2023 on        1. The Audit Committee of the Company consists of at
         Guidelines for Governance and Significant Corporate        least 3 (three) members that are from the Independent
         Activities of State-Owned Enterprises;                     Commissioners and Independent Parties.
      2. SOE Minister Regulation No. PER-3/MBU/03/2023           2. The composition of membership of the Audit Committee
         on Organs and Human Resources of State-Owned               is at least 1 (one) Independent Commissioner as
         Enterprises.                                               Chairman and concurrently a member, 1 (one)
      3. POJK No. 55/POJK.04/2015 on the Establishment and          Independent Party who has expertise in finance or
         Implementation Guidelines for the Audit Committee.         accounting, and 1 (one) Independent Party who has
      4. POJK No. 17 of 2023 on Governance Practices for            expertise in the field of law or banking.
         Commercial Banks.                                       3. The Chairman of Audit Committee can only hold
      5. Bank Mandiri Articles of Association and its               concurrent positions as chairman at most in 1 (one)
         amendments.                                                another committee.
      6. Board of Commissioners Decree No. KEP.KOM/002/2023
         dated 25 August 2023 on the Membership                  As of 31 December 2023, the composition of the Audit
         Composition of the Audit Committee, Risk Oversight      Committee’s membership appointed based on the
         Committee, Integrated Governance Committee and          Decree of the Board of Directors No. KEP.DIR/033/2023
         Remuneration and Nomination Committee of PT Bank        dated 12 September 2023 regarding the Determination
         Mandiri (Persero) Tbk.                                  of Audit Committee Membership, is as follows:
      7. Decree of the Board of Directors No. KEP.DIR/033/2023
         dated 12 September 2023 on the Determination of
         the Membership of the Audit Committee of PT Bank
         Mandiri (Persero) Tbk.




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 CORPORATE                              ESG COMMITMENTS                                SOCIAL AND ENVIRONMENTAL                  FINANCIAL
GOVERNANCE
 GOVERNANCE                             & PRACTICES                                    RESPONSIBILITY                            STATEMENTS 2023




                                                                                                                               AUDIT COMMITTEE




                                                        Audit Committee Composition as of 31 December 2023
                Name                            Position in the Committee                    Position in the Company                  Period
 Heru Kristiyana*)                         Chairman and Member                       Independent Commissioner                       2023 - 2027
 M. Chatib Basri                           Member                                    President Commissioner/Independent             2020 - 2024
 Andrinof A. Chaniago                      Member                                    Vice President Commissioner/Independent        2020 - 2024
 Loeke Larasati Agoestina                  Member                                    Independent Commissioner                       2020 - 2024
 Muliadi Rahardja                          Member                                    Independent Commissioner                       2022 - 2026
 Rasyid Darajat                            Member                                    Independent Party                              2021 - 2026
 Rubi Pertama                              Member                                    Independent Party                              2021 - 2026
 *) Diangkat sebagai Komisaris Independen pada RUPS Tahunan tanggal 14 Maret 2023.




 Audit Committee Profile
 The profile of the Audit Committee members as members of the Board of Commissioners can be viewed in Chapter 3
 Profile of the Board of Commissioners in this Annual Report.

 The following are profile of the Audit Committee members as non-Commissioner Independent Parties.


                                                                     Period of Assignment
                                                                     2 August 2021 – present

                                                                     Educational Background
                                                                     • Master of Management, BINUS Business School (2022)
                                                                     • Bachelor’s Degree in Civil Engineering, Institute of Technology Bandung
                                                                       (1987)

                                                                     Legal Basis of Appointment
                                                                     • Appointed as member of the Audit Committee as of 2 August 2021
                                                                       pursuant to the Board of Directors Decree No. KEP.DIR/036/202.

                                                                     Professional Background
                                                                     • Chief Auditor IT of PT Bank Mandiri (Persero) Tbk. (2015 - 2020)
                                                                     • Chief Information Officer (CIO) of PT Indika Energy Tbk (2009 - 2014)
                                                                     • Chief Information Officer (CIO) of Reconstruction and Rehabilitation
                                                                        Agency (BRR) Aceh-Nias (2005-2009)
                                                                     • Chief Operating Officer (COO) of PT MVCommerce Indonesia (2002 -
      Rasyid Darajat
      Member of Audit Committee,                                        2005)
      Independent Party                                              • Director/President Director of PT IndoExchange Tbk (1996 - 2001)
      Age: 60 Years old                                              • Konsultan SGV-Utomo/Andersen Consulting (1989 - 1996)
      Domicile: South Tangerang
      Citizenship: Indonesia




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            HIGHLIGHTS                 REPORT                          PROFILE                          AND ANALYSIS




      AUDIT COMMITTEE



                                                  Period of Assignment
                                                  1 October 2021 – present

                                                  Educational Background
                                                  Bachelor Degree in Civil Engineering, Institute of Technology Bandung
                                                  (1987)

                                                  Legal Basis of Appointment
                                                  Appointed as member of the Audit Committee as of 1 October 2021
                                                  pursuant to the Board of Directors Decree No. KEP.DIR/053/2021.

                                                  Professional Background
                                                  • Member of Risk Oversight Committee of Indonesia Eximbank (2020 –
                                                     September 2021)
                                                  • Member of Audit Committee and Industrial Risk Oversight Committee
                                                     of Bank of Korea Indonesia (2019 – 2020)
                                                  • Risk Management Advisor of Indonesia Eximbank (2019)
                                                  • Risk Management Unit Manager of JPMorgan Chase Bank, N.A (2013
                                                     – 2018)
          Rubi Pertama                            • Compliance Manager of JPMorgan Chase Bank, N.A (2010 – 2013)
          Member of Audit Committee,              • Head of Risk Management Bank UOB Indonesia (2008)
          Independent Party
          Age: 60 Years old                       • Head of Audit & Risk Management PT CIMB Niaga (1990 – 2007)
          Domicile: Jakarta
          Citizenship: Indonesia




      Audit Committee Charter                                      1. Financial Statements
      In carrying out its duties, the Audit Committee is guided       a. Monitoring and reviewing:
      by the Audit Committee Charter, which was last updated              i) Credibility and objectivity of the Company’s
      on 12 October 2023 based on the Decree of the Board                       financial statements and information to be
      of Commissioners No. KEP.KOM/005/2023 concerning the                      issued to external parties and regulatory
      Audit Committee Charter and the Audit Committee Code                      institutions, including follow-up of complaints
      of Conduct of PT Bank Mandiri (Persero) Tbk.                              and/or notes of impropriety against the reports
                                                                                during the Audit Committee review period.
      The Audit Committee Charter includes:                               ii) Audit Reports related to the Company’s
      1. General Purpose                                                        Financial Statements.
      2. Basic Regulations                                                iii) The Company’s Work Plan and Budget as well
      3. Duties, Responsibilities and Authority                                 as the Company’s Long-Term Plan.
      4. Composition, Structure, Membership Requirements                  iv) Complaints relating to the accounting and
         and Tenure                                                             financial reporting process of the Company.
      5. Meetings                                                         v) The financial reporting process audited by the
      6. Reports and Recommendations                                            External Auditor.
      7. Handling of Complaints/Reporting Regarding Alleged           b. Ensure of a satisfactory evaluation procedure for
         Violations on Financial Reporting                                all information released by the Company.
      8. Closing                                                      c. Conducting periodic meetings with relevant
                                                                          work units and Auditors (Internal and External) to
      Duties and Responsibilities of the Audit Committee                  request additional information and clarification in
      Duties and responsibilities of the Audit Committee are              accounting and finance.
      regulated in the Audit Committee Charter as follows:




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GOVERNANCE
 GOVERNANCE                & PRACTICES                          RESPONSIBILITY                           STATEMENTS 2023




                                                                                                     AUDIT COMMITTEE



    d. Monitoring and evaluating the appropriateness                       iii) Request assistance from the Internal Audit Unit
       of the implementation of financial policies of the                        to conduct special audits/investigations if there
       Company and Financial Services Institutions (FSIs)                        are audit findings and/or information relating
       within the Financial Conglomeration.                                      to violations of prevailing laws and regulations
    e. Provide recommendations to the Board of                                   and provide input deemed necessary in the
       Commissioners on matters that support the                                 implementation of the audit.
       effectiveness and accuracy of the financial                         iv) Ensure that the Inter nal Audit Unit
       reporting process of the Company and FSIs within                          communicates with the Board of Directors,
       the Financial Conglomeration.                                             Board of Commissioners, External Auditors,
                                                                                 and Regulators.
 2. Internal Control                                                       v) Provide recommendations to the Board of
    a. Internal Control Process and System                                       Commissioners regarding:
        i) Monitoring and reviewing:                                            »» Appointment and dismissal of the Head of
            »» The Company’s standardized internal                                  the Company’s Internal Audit Unit proposed
                control system in accordance with                                   by the Board of Directors.
                applicable best practices.                                      »» Audit Plan, Scope, and Budget of the
            »» Audit reports of the Internal Audit Unit and                         Internal Audit Unit.
                External Auditors that audit the Company                        »» Provision of annual remuneration for the
                to ensure that internal control has been                            Internal Audit Unit as a whole and as a
                properly implemented.                                               performance awards.
            »» Implementation of the Board of Directors’                        »» Corrective actions to address control
                follow-up on the findings of the Internal                           weaknesses, fraud, compliance issues with
                Audit Unit, public accountants and the                              policies and laws and regulations or other
                results of regulatory supervision.                                  issues identified and reported by the Internal
            »» The adequacy of internal control in the                              Audit Unit.
                Financial Services Institutions within the                      »» Improvement of the management control
                Financial Conglomerate.                                             system and its implementation.
    b. Internal Audit                                                      vi) Conduct communication/meetings with the
        i) To monitor, review and assess:                                        Internal Audit Unit (periodically or as needed)
            »» Audit Plan, Scope and Budget of the                               to discuss matters including the following:
                Internal Audit Unit.                                            »» Realization of the Annual Audit Plan and
            »» Implementation of internal audit activities                          Budget of the Internal Audit Unit.
                and results as well as the effectiveness of                     »» Significant audit findings and no further
                internal audit implementation.                                      Internal Audit recommendations.
            »» Performance of the Internal Audit Unit.                          »» Other matters that require clarification or
            »» Audit Result Reports, particularly significant                       explanation.
                findings and ensuring the Board of Directors            c. External Audit
                takes the necessary corrective actions                     i) Monitoring, reviewing, and assessing the
                quickly to address control weaknesses,                           effectiveness of audit implementation by AP
                fraud, compliance issues with policies, laws                     and/or KAP.
                and regulations, or other issues identified                ii) Ensure the objectivity and independence of
                and reported by the Internal Audit Unit.                         AP, KAP, and KAP insiders.
            »» Suitability of the implementation of the                    iii) Provide recommendations on:
                Internal Audit policies of the Company                          »» Appointment of Public Accountant (AP) and
                and FSIs in the Financial Conglomeration.                           Public Accounting Firm (KAP) that will audit
            »» Implementation of other Internal Audit                               the Company’s financial statements to the
                Unit functions in accordance with the                               Board of Commissioners to be submitted
                provisions of laws and regulations, articles                        to the General Meeting of Shareholders
                of association, and/or decisions of the GMS/                        (GMS). In preparing the recommendation,
                Minister of SOEs.                                                   the Audit Committee may consider:
        ii) Ensure that the Internal Audit Unit works
             objectively, independently, and upholds
             integrity in carrying out its duties.




                                                                                                          ANNUAL REPORT 2023         597
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            HIGHLIGHTS                    REPORT                             PROFILE                            AND ANALYSIS




      AUDIT COMMITTEE



                 »» Independence of AP, KAP, and KAP human                     vi) Communicating periodically with KAP who is
                     resources;                                                      auditing Bank Mandiri to discuss matters that
                 »» Audit scope;                                                     need to be communicated, including the
                 »» Audit service fees;                                              following:
                 »» Expertise and experience of AP, KAP, and                        »» Progress of inspection implementation.
                     Audit Team from KAP;                                           »» Important findings.
                 »» Audit methodologies, techniques, and tools                      »» Changes in accounting and financial
                     used by KAP;                                                        regulations/rules from authorized institutions.
                 »» he benefits of new perspectives that will be                    »» Adjustments made based on the
                     obtained through the replacement of AP,                             examination results.
                     KAP, and Audit Team from KAP;                                  »» Constraints/obstacles encountered in the
                 »» Potential risks of using audit services by the                       implementation of the audit.
                     same KAP consecutively for a long period                  vii) Reviewing and monitoring:
                     of time; and                                                   »» All significant findings from the examination
                 »» T h e re s u l t o f e v a l u a t i o n o n t h e                   results of the External Auditor and other
                     implementation of audit services on annual                          auditing institutions.
                     historical financial information by AP and                     »» The auditee’s follow-up to the results of the
                     KAP in the previous period, if any.                                 audit conducted by the external auditor.
                     In the event that the AP and/or KAP that                  viii) Providing an independent opinion in the event
                     has been decided by the GMS cannot                              of a difference of opinion between the Board
                     complete the audit services on annual                           of Directors and the AP and/or KAP on the
                     historical financial information during                         services provided.
                     the professional assignment period, the                   ix) Specifically for the procurement of non-audit
                     appointment of a replacement of AP and/                         services that will invite KAP who is auditing
                     or KAP shall be carried out by the Board of                     the Company’s financial statements in the
                     Commissioners after obtaining approval                          current year and its affiliates, and based on
                     from the GMS by taking into account the                         Management’s review there is no conflict of
                     recommendations of the Audit Committee.                         interest, Management must submit a proposal
                 »» Termination of AP and KAP.                                       for approval to the Audit Committee regarding
             iv) Review and ensure that:                                             the partners invited to the procurement of
                 »» Bank Mandiri has a standardized procedure                        consulting services.
                     and is in accordance with the prevailing            3. Compliance
                     rules/regulations in the implementation of          Monitoring and reviewing:
                     KAP selection.                                         a. The Company’s compliance with laws and
                 »» The process of KAP selection is in                         regulations, both internal and external, relating
                     accordance with standardized procedures.                  to the Company’s business activities.
             v) he Audit Committee evaluated the                            b. Audit reports related to the Company’s compliance
                  implementation of audit services on annual                   with internal and external regulations issued by the
                  historical financial information by AP and/or                Internal and External Audit Unit.
                  KAP. The evaluation is conducted through:                 c. Suitability of audit implementation by the Public
                 »» Compliance of audit implementation                         Accounting Firm with applicable audit standards.
                     by AP and/or KAP with applicable audit                 d. Conformity of financial statements with applicable
                     standards.                                                accounting standards.
                 »» Adequacy of field work time.                            e. Potential conflict of interest of the Company.
                 »» Assessment of the scope of services
                     provided and the adequacy of the audit.
                 »» Recommendations for improvement
                     provided by the AP and/or KAP.




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GOVERNANCE
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                                                                                                    AUDIT COMMITTEE



 4. Conducting periodic meetings with relevant work units           Audit Committee Reporting
    to discuss matters within the scope of its supervision.         The Audit Committee is required to prepare periodic
 5. Prepare the Audit Committee Charter and review it               reports to the Board of Commissioners regarding the
    as needed at least every 2 (two) years.                         activities of the Audit Committee, at least once in 3 (three)
                                                                    months. The Audit Committee is also required to submit a
 Audit Committee Authority                                          report to the Board of Commissioners on each assignment
 The Audit Committee has the authority to:                          and or for each identified problem requiring the attention
 1. Communicate directly with employees, including                  of the Board of Commissioners.
    the Board of Directors, parties that implement the
    internal audit function, risk management, and other             The Audit Committee also prepares audit evaluation
    parties at the Public Accountant Firm that audits the           results on the annual historical financial information by
    Company for information, clarification and requests             the External Auditors at the latest 6 (six) month after the
    for documents and reports needed.                               fiscal year ends or at any time if necessary.
 2. Access all relevant information about the Company
    related to the implementation of its duties and                 Audit Committee Qualifications and
    functions, including records or information about               Professional Background
    employees, funds, assets, and other resources                   The Audit Committee membership requirements are as
    belonging to the Company.                                       follows:
 3. Obtaining reports on the audit results of the Internal          1. General Requirements
    Auditor and External Auditor, as well as other                       a. Having integrity, character and good morals.
    supervisory/auditors.                                                b. Does not have personal interests/relationships that
 4. Assign the Internal Auditor and/or External Auditor                     can cause conflict of interest against the Company.
    to conduct a special audit/investigation, if there is a         2. Competence Requirements
    strong suspicion of fraud, violation of law and violation            a. Have sufficient expertise, ability, knowledge and
    of prevailing laws and regulations.                                     experience related to duties and responsibilities.
 5. Obtain input and/or advice from external of the                      b. Must understand financial statements, company
    Company relating to its duties.                                         business especially related to the company services
 6. Involve independent parties from external of the                        or business, audit process, and risk management.
    Committee members as necessary to assist in the                      c. Able to work together and have the ability to
    performance of its duties (if required).                                communicate well and effectively and are willing
 7. Perform other authorities granted by the Board of                       to provide sufficient time to carry out duties.
    Commissioners.                                                       d. Have adequate knowledge of the Company’s
                                                                            Articles of Association, laws and regulations in the
 Audit Committee Tenure                                                     banking sector, Capital Market, SOEs and other
 The tenure of members of the Audit Committee as                            relevant laws and regulations.
 members of the Board of Commissioners must not be                       e. Willing to increase competence continuously
 longer than the tenure of the Board of Commissioners as                    through education and training.
 stipulated in the Articles of Association and can be re-
 elected for the next 1 (one) period. Whereas the tenure
 of the Audit Committee members from Non-Commissioner
 Independent Parties is the latest 3 (three) years and can
 be extended 1 (one) time during 2 (two) years of tenure
 by not eliminating the rights of the Board of Commissioners
 to terminate at any time.




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            HIGHLIGHTS                         REPORT                                      PROFILE                                 AND ANALYSIS




      AUDIT COMMITTEE



      The qualifications and professional experience of the Chairman and Members of the Audit Committee are as follows.

                                             Audit Committee Qualifications and Professional Background
            Name                Position               Period                           Education                           Professional Background
      Heru Kristiyana      Chairman and       21 August - 31           •    Bachelor in Law                          Professional background in banking
                           Member             December 2023            •    Master in Management                     oversight.


      M. Chatib Basri      Member             1 January – 31           •    Bachelor Degree in Economics             Professional background in finance and
                                              December 2023            •    Master of Business Administration in     corporate oversight.
                                                                            Economic Development
                                                                       •    Ph. D in Economics
      Andrinof A.          Member             1 January – 31           •    Bachelor Degree in Social and Political Professional background in banking and
      Chaniago                                December 2023                 Science                                 corporate oversight.
                                                                       •    Master Degree in Public Planning and
                                                                            Policies
      Loeke Larasati       Member             1 January – 31           •    Bachelor of Law                          Professional background in in legal and
      Agoestina                               December 2023            •    Master Degree in Management              banking.


      Muliadi Rahardja     Member             10 March – 31            •    Bachelor of Accounting                   Professional background in banking and
                                              December 2023            •    •Master of Business Administration in    corporate oversight
                                                                            Finance
      Rasyid Darajat       Member             1 January – 31           •    Bachelor Degree in Civil Engineering     Professional background in banking,
                                              December 2023            •    Master in Management                     auditing, and IT
      Rubi Pertama         Member             1 January – 31           Bachelor Degree in Industrial Engineering     Professional background in banking,
                                              December 2023                                                          auditing, and risk management


      Independence of Audit Committee
      All members of the Audit Committee from independent parties have no relationship in financial, management, shareholders
      and/or family relations with the Board of Commissioners, the Board of Directors and/or Controlling Shareholders or
      relationships with the Bank, which can affect their ability to perform independently.

                                                                             M.        Andrinof
                                                             Heru                                   Loeke Larasati      Muliadi       Rasyid        Rubi
                    Independence Aspects                                   Chatib        A.
                                                          Kristiyana                                  Agoestina        Rahardja       Darajat     Pertama
                                                                            Basri     Chaniago
      Does not have financial relations with the Board          √            √             √                √              √             √            √
      of Commissioners and Directors
      Does not have management relations in the                 √            √             √                √              √             √            √
      company, subsidiaries, or affiliates
      Does not have shareholding relations in the               √            √             √                √              √             √            √
      company
      Does not have family relations with the Board             √            √             √                √              √             √            √
      of Commissioners, Directors and/or with fellow
      members of Audit Committee
      Does not serve as the management in political             √            √             √                √              √             √            √
      parties, officials and in the government



      Audit Committee Meeting
      The Audit Committee holds regular meetings at least 1 (one) in 1 (one) month. A meeting can be held if it is attended by at
      least 51% of the total committee members including 1 (one) Independent Commissioner and 1 (one) Independent Party.

      Decisions of the Audit Committee meeting is taken based on deliberation to reach consensus. The meeting is chaired
      by the Chairman of the Audit Committee or other Committee Members who are Independent Commissioners, if the
      Chairman of the Audit Committee is unable to attend.

      Each Audit Committee meeting is stated in the meeting minutes, including dissenting opinions, which are signed by all
      members of the Audit Committee present and submitted to the Board of Commissioners.




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GOVERNANCE
 GOVERNANCE                  & PRACTICES                             RESPONSIBILITY                                      STATEMENTS 2023




                                                                                                                   AUDIT COMMITTEE



 Meeting Agenda of Audit Committee
 In 2023, the Audit Committee held 28 Meetings with the following agenda.

                                                   Meeting Agenda of Audit Committee
  No.                 Date                                               Meeting Agenda                                              Quorum
  1.    12 January 2023          MSME Digital Market (PaDi) Progress in 2022                                                          100%
  2.    19 January 2023          1. Proposed Standard Operating Procedures (SOP) for Social & Environmental Responsibility (TJSL).    100%
                                 2. Significant Findings Quarter IV/2022.
  3.    24 January 2023          Consolidated Financial Statements of Bank Mandiri and Subsidiaries for the Year ended 31             85,7%
                                 December 2022 (Audited).
  4.    2 February 2023          1. Collateral Management.                                                                            100%
                                 2. Proposal of Public Accounting Firm (KAP) Audit Services for Consolidated Financial
                                    Statements for Fiscal Year 2023.
  5.    23 February 2023         Report of the Director of Compliance Semester II/2022.                                               100%
  6.    2 March 2023             Performance Progress of PT Mandiri Manajemen Indonesia (MMI) Protected Mutual Fund.                  85,7%
  7.    9 March 2023             1. Proposal for the Appointment of an Independent Consultant for Bank Mandiri Internal Audit         100%
                                    Function/Quality Assurance Review (QAR) in 2023.
  8.    13 April 2023            1. Progress of Settlement of Retail Credit Guarantee Claim Arrears.                                  83,3%
                                 2. Report Submission Compliance and Coordination with PPATK.
                                 3. Report on the Main Audit Results Quarter I/2023
  9.    11 May 2023              Proposal to Extend the Period of Fulfillment of Follow-up Commitments OJK Findings                   100%
  10.   17 May 2023              Compliance Director Report Quarter I/2023.                                                           66,7%
  11.   22 May 2023              Proposed extension of the period for fulfilling the follow-up commitment of OJK findings.            100%
  12.   31 May 2023              Distribution of Social and Environmental Responsibility (TJSL) Quarter I/2023                        100%
  13.   13 June 2023             Proposed Revision of RKAP Year 2023 and RBB Year 2023-2025                                           100%
  14.   15 June 2023             Digital Marketing Strategy                                                                           100%
  15.   26 June 2023             Subsidiary Company Cyber Resilience
                                                          ​​                                                                          100%
  16.   6 July 2023              IT Risk & Audit                                                                                      100%
  17.   13 July 2023             Proposed Extension of the Period for Fulfilling Follow-up Commitments Findings of OJK                100%
  18.   27 July 2023             Quarterly Audit Results Report Summary II/2023                                                       100%
  19.   24 August 2023           Update on SKAI Quality Assurance Review Results for 2023.                                            100%
  20.   21 September 2023        1. Report of the Director of Compliance for the First Semester of 2023                               85,7%
                                 2. Proposed Extension of the Period for Fulfilling Follow-up Commitments Findings of OJK
  21.   5 October 2023           Improvement of SLIK and LBUT Reporting Process                                                       100%
  22.   12 October 2023          Audit Progress of Consolidated Financial Statements for Financial Year 2023.                         85,7%
  23.   19 October 2023          Subsidiary Company Cyber ​​Resilience                                                                100%

  24    26 October 2023          Quarterly Audit Report Summary III/2023.                                                             71,4%
  25.   16 November 2023         Proposed RKAP Year 2024 and RBB Year 2024-2026                                                       85,7%
  26.   30 November 2023         1. Preparation for the 2023 OJK Examination Exit Meeting and Prudential Meeting on 5                 100%
                                    December 2023.
                                 2. Compliance Director Report Quarter III/2023.
  27.   13 December 2023         Audit Progress of Consolidated Financial Statements for Financial Year 2023.                         85,7%
  28.   21 December 2023         1. Proposed second extension of the period for fulfilling the follow-up commitment of OJK            85,7%
                                    findings
                                 2. Proposed Annual Audit Plan (AAP) and SKAI Budget Allocation for 2024.




                                                                                                                          ANNUAL REPORT 2023   601
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             HIGHLIGHTS                        REPORT                                  PROFILE                               AND ANALYSIS




      AUDIT COMMITTEE


                                               Meeting Frequencies and Attendance of Audit Committee
                           Name                                 Position                          Total Meetings        Total Attendance     (%)
      Heru Kristiyana                          Chairman and Member                                     10                      9           90
      M. Chatib Basri                          Member                                                  28                     22           78.6
      Andrinof A. Chaniago                     Member                                                  28                     28           100
      Loeke Larasati Agoestina                 Member                                                  28                     25           89.3
      Muliadi Rahardja                         Member                                                  28                     27           96.4
      Rasyid Darajat                           Member                                                  28                     28           100
      Rubi Pertama                             Member                                                  28                     27           96.4


      Key Performance Indicators Achievement
      The achievements of the Audit Committee’s KPIs in 2023 could be seen from the realization of the work plan, the quality
      of recommendations that had been compiled, and the quality of communication that had been made both with the
      Board of Commissioners, the Board of Directors, and the Head of the relevant Unit.

      In general, all Committee work programs as stated in the 2023 Audit Committee Work Plan have been properly realized.
      In addition, all recommendations from the Audit Committee have been accepted by the Board of Commissioners and
      has been taken into consideration in the decision-making process on the proposals submitted by the Board of Directors.
      On the communication aspect, during 2023 good and intense communication has been established to discuss issues
      at Bank Mandiri and the progress of the follow-up resolutions made by the Board of Directors.

      Audit Committee Remuneration
      The remuneration of Audit Committees for the Independent Non-Commissioners is regulated by the Decree of the Board
      of Commissioners No. KEP.KOM/0023/2023 dated 13 September 2023 on the Remuneration of Supporting Organs of the
      Board of Commissioners of PT Bank Mandiri (Persero) Tbk and regulated in the Letter of Assignment of member of the
      Committee under the Board of Commissioners issued by Bank Mandiri.

       No.                       Description                                      Member of Non-Commissioner Committee
      1.      Salary/Honorarium                         Maximum 20% of President Director Salary
      2.      Post Tenure Benefits                      Not provided
      3.      Holiday Allowance                         Provided as per the Bank Internal Rules
      4.      Bonus/Tantiem                             Not provided
      5.      Facilities
              - Transportation Allowance                Not provided
              - Health                                  Provided as per the Bank Internal Rules
              - Employment                              Provided as per the Bank Internal Rules
              - Business Trips                          As per Bank Mandiri’s Employee rules/equivalent to Group Head



      Audit Committee Activities in 2023
      The Audit Committee has carried out its duties and functions as stipulated in the Audit Committee Charter by implementing
      the principle of independence in accordance with prevailing regulations and in accordance with the 2023 Audit
      Committee work plan approved by the Board of Commissioners.

      The Audit Committee work plan 2023 is divided into 2 (two) activities, namely Mandatory/Regular and Non-Regular as
      follows:
      1. Mandatory/Regular, which includes review of Financial Statements, implementation of audits by Public Accountant
           Firms, implementation of Compliance, Internal Audit, review of Corporate Work Plans & Budget and Bank Business
           Plans, results and improvement of findings of supervisory authority, as well as other internal activities of the Audit
           Committee.
      2. Non-Regular, which includes the concern and focus of the Audit Committee on certain issues, especially on the
           effectiveness of the implementation of the 3-3-1 Strategy, credit quality, IT & operations, SPI strengthening, and
           synergy between Mandiri Group



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 CORPORATE                  ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                 FINANCIAL
GOVERNANCE
 GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                           STATEMENTS 2023




                                                                                                      AUDIT COMMITTEE



 The activities of the Audit Committee in 2023 were as                Audit Committee Work Plan 2024
 follows:                                                             At the end of 2023, the Audit Committee has prepared
                                                                      a work plan 2024 and has obtained the approval from
 1. Held 28 Audit Committee Meetings, including                       the Board of Commissioners. The Audit Committee work
    compiling the Minutes of Meetings.                                plan 2023 is divided into 2 (two) activities, which are:
 2. Held 76 internal discussions, discussions with related            Mandatory/Regular and Non-Regular as follows:
    units, and joint discussions with the Risk Oversight              1. Mandatory/Regular, which includes review of
    Committee, including to preparing and documenting                     Financial Statements, Public Accountant (AP) and
    the Minutes of Meeting of the Board of Directors.                     Public Accounting Firm (KAP), Compliance, Internal
 3. Reviewed in-house/unaudited and audited financial                     Audit, Corporate Work Plan & Budget (RKAP) and
    statements and information that are for publication.                  Bank Business Plan (RBB), as well as other Internal Audit
 4. Reviewed more than 30 Reports/Proposals/                              Committee activities.
    Recommendations of the Board of Directors that require            2. Non-Regular, which includes the concern and focus
    written approval from the Board of Commissioners and                  of the Audit Committee on certain issues, particularly
    prepared its recommendations, among others Proposal                   business and credit, IT and operations, and GRC.
    of Public Accountant Firm Appointment that will audit
    the 2023 Consolidated Financial Statements, Proposal of           Statement of the Audit Committee on
    Work & Budget Plans and Bank Business Plans including             the Effectiveness of Internal Control
    its revisions, as well as Proposal of Annual Audit Plan and       System and Risk Management
    Budget of Internal Audit Year 2024.                               The internal control system performed by Bank Mandiri
 5. Prepared 4 (four) quarterly reports of the Committee              was considered effective and adequate, reflected
    activities and have been submitted to the Board of                in the effectiveness of the implementation of internal
    Commissioners.                                                    control functions, among others internal audit function,
 6. Prepared the Audit Results Evaluation Report for Bank             risk management, compliance, financial and operational
    Mandiri Annual Historical Financial Information for 2022          controls.
    fiscal Year by KAP Tanudiredja, Wibisana, Rintis & Rekan
    (PwC)
 7. Conducted 5 (five) Site Visit Visits including the
    preparation of Visit Results Reports, namely to Region
    VII-Area DI Yogyakarta (12-14 April 2023), Region
    X-Morowali (16 May 2023), CISO Office & Lab. Forensic
    (08 June 2023), Mandiri University (25 July 2023), and
    Region I-Area Batam (21-22 August 2023).
 8. Prepared the Audit Committee Work Plan 2024.
 9. All Committee members had participated in at least
    1 (one) time competency development activities
    related to Banking/Audit.




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            HIGHLIGHTS                 REPORT                        PROFILE                          AND ANALYSIS




      Remuneration and Nomination
      Committee




            The establishment of the Remuneration and Nomination Committee
            aimed at assisting the Board of Commissioners in its oversight functions
            and ensure the objective, efficient, and effective execution of the
            nomination and remuneration determination processes for strategic
            management positions. As an implementation of GCG, OJK regulations
            mandate that banks form a Remuneration and Nomination Committee to
            ensure compliance of management with the principles of transparency,
            accountability, responsibility, independence, and fairness




      Legal Reference                                             Structure, Membership and Profile of the
      The establishment of the Remuneration and Nomination        Remuneration and Nomination Committee
      Committee refers to:                                        Remuneration and Nomination Committee are as follows:
      1. SOE Minister Regulation No. PER-2/MBU/03/2023            1. The Remuneration and Nomination Committee consists
         concerning Guidelines for Governance and Significant        of at least 3 (three) people with a composition of 1
         Corporate Activities of State-Owned Enterprises.            (one) Independent Commissioner as Chair and
      2. SOE Minister Regulation No. PER-3/MBU/03/2023               member, 1 (one) Commissioner, and 1 (one) Executive
         concerning Organs and Human Resources of State-             Officer who oversees the Resources function. Human
         Owned Enterprises.                                          or 1 (one) Representative officer (ex officio) as a non-
      3. POJK No. 34/POJK.04/2014 concerning the Nomination          voting member.
         and Remuneration Committee of Issuers or Public          2. The Executive Officer in charge of Human Resources
         Companies                                                   or employee representatives who are members
      4. POJK No. 45/POJK.03/2015 concerning Governance              of the Committee must have knowledge of the
         in Providing Remuneration for Commercial Banks.             Company’s remuneration and/or nomination system
      5. POJK No. 17 of 2023 concerning the Implementation           and succession plan.
         of Governance for Commercial Banks.                      3. When there are more than 3 (three) members of
      6. Bank Mandiri’s Articles of Association and amendments.      the Remuneration and Nomination Committee, the
      7. Decree of the Board of Commissioners No. KEP.               members of the Independent Commissioners shall be
         KOM/002/2023 dated 25 August 2023 on the                    no less than 2 (two) people.
         Composition of Memberships of the Audit Committee,       4. The Chairman of the Remuneration and Nomination
         Risk Oversight Committee, Integrated Governance             Committee may only hold concurrent positions as
         Committee and Remuneration and Nomination                   Chair of the Committee at most in 1 (one) another
         Committee of PT Bank Mandiri (Persero) Tbk.                 Committee.
      8. Decree of the Board of Directors No. KEP. DIR/017/2023
         dated 11 April 2023 on Determination of Remuneration
         and Nomination Committee Membership.



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CORPORATE
 CORPORATE                     ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                     FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                        RESPONSIBILITY                               STATEMENTS 2023




                                                              Remuneration and Nomination Committee




 As of 31 December 2023, the composition of the Remuneration and Nomination Committee’s membership appointed
 based on the Decree of the Board of Directors No. KEP.DIR/017/2023 dated 11 April 2023 regarding the Determination
 of Remuneration & Nomination Committee Membership, is as follows:

 Remuneration and Nomination Committee Composition as of 31 December 2023
           Name                   Position in the Committee             Position in the Company                      Period
 M. Chatib Basri              Chairman and Member               President Commissioner/Independent                 2019 - 2024
 Andrinof A. Chaniago         Member                            Vice President Commissioner/Independent             2020-2025
 Muliadi Rahardja             Member                            Independent Commissioner                           2022 - 2027
 Rionald Silaban              Member                            Commissioner                                       2023 - 2028
 Arif Budimanta               Member                            Commissioner                                       2020 - 2025
 Steven A. Yudiyantho         Non-Voting Member and Secretary   SEVP/Group Head Human Capital             01 January - 30 November 2023
 Votivia Mardinna             Non-Voting Member and Secretary   SEVP/Group Head Human Capital             01-31 December 2023


 Remuneration and Nomination Committee Profile
 The profile of the Remuneration and Nomination Committee members as members of the Board of Commissioners can
 be viewed in Chapter 3 Profile of the Board of Commissioners in this Annual Report.

 The following is the profile of member of the Remuneration and Nomination Committee as Non-Voting Member and
 Secretary:




                                                    Basis of Appointment
                                                    Board of Directors Decree No. KEP.DIR/017/2023

                                                    Educational Background
                                                    Bachelor of Economics from University of Gadjah Mada (2008)

                                                    Professional Background
                                                    • Group Head Performance & Remuneration (2023 - present)
                                                    • Depatment Head Performance & Career Development (2019-2023)
                                                    • Depatment Head Organization Development (2018-2019)
                                                    • Pj. Department Head Organization Development (May 2017)
     Votivia Mardinna
     Non-Voting Member and
     Secretary
     Age: 37 Years old
     Domicile: Jakarta
     Citizenship: Indonesia




                                                                                                                ANNUAL REPORT 2023        605
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             HIGHLIGHTS                   REPORT                           PROFILE                          AND ANALYSIS




      Remuneration and Nomination Committee



      Remuneration and Nomination                                          g. Assist the Board of Commissioners in obtaining and/
      Committee Charters                                                      or analyzing data on prospective candidates for
      The Remuneration and Nomination Committee has in place                  members of the Board of Directors from the talent
      a charter that clearly states the roles and responsibilities of         pool of executives one level below the Board of
      the committee and its scope of work. The Remuneration                   Directors.
      and Nomination Committee work guidelines is regulated                h. Having a data base and talent pool of candidates
      in the Remuneration and Nomination Committee Charter                    for members of the Board of Directors and
      of PT Bank Mandiri (Persero) Tbk which was last updated                 candidates for members of the Board of
      on 12 October 2023 based on the Decree of the Board                     Commissioners.
      of Commissioners No. KEP.KOM/007/2023.                               i. Develop, implement, and analyze the criteria
                                                                              and procedures for dismissal of the Board of
      The Remuneration and Nomination Committee                               Commissioners and/or the Board of Directors.
      Charter contains, among others:                                      j. Assess independent parties who will become
      1.   General Purpose                                                    members of the Supporting Committee of the Board
      2.   Basic Regulations                                                  of Commissioners and provide recommendations
      3.   Duties, Responsibilities, and Authority                            to the Board of Commissioners.
      4.   Composition, Structure, and Membership Requirements
      5.   Meeting                                                      2. Related to Performance Management Functions
      6.   Reports and Recommendations                                     a. Develop or evaluate and provide input to the Board
      7.   Closing                                                            of Commissioners regarding the Performance
                                                                              Assessment Policy for members of the Board
      Remuneration and Nomination Committee Duties                            of Directors and/or members of the Board of
      and Responsibilities                                                    Commissioners.
      In implementing its duties, the Remuneration and                     b. Prepare proposals for individual performance
      Nomination Committee responsible to the Board of                        assessment system for members of the Board
      Commissioners. The following are duties and responsibilities            of Directors and/or members of the Board of
      of the Committee:                                                       Commissioners.
      1. Related to Nomination Function                                    c. Evaluate the proposed Key Performance Indicators
          a. Evaluate and provide recommendations to the                      (KPI) of individual members of the Board of
             Board of Commissioners on the Board of Directors’                Directors.
             proposal regarding the Company’s organizational               d. Assisting the Board of Commissioners in
             structure.                                                       performance assessment of members of the
          b. Provide recommendations to the Board of                          Board of Directors and/or members of the Board
             Commissioners regarding the composition of                       of Commissioners based on benchmarks that have
             positions of members of the Board of Directors and/              been prepared as assessment materials.
             or Board of Commissioners and/or Supervisory Board.
          c. Identify candidates for members of the Board               3. Related to Remuneration Function
             of Directors and/or candidates for members of                 Provide recommendations to the Board of
             the Board of Commissioners both from within                   Commissioners regarding:
             and outside the Company who are eligible to                   a. Assisting the Board of Commissioners in proposing
             be proposed/appointed as members of the                          an appropriate remuneration system for members
             Board of Directors or members of the Board of                    and/or members of the Board of Commissioners in
             Commissioners.                                                   the form of a payroll/honorarium system, provision
          d. Develop or evaluate and provide input to the Board               of facilities, benefits, bonuses/incentives/tantiem,
             of Commissioners regarding policies, criteria and                pension system, assessment or evaluation of the
             qualifications required in the Nomination process                system and the options provided.
             in accordance with the Company’s strategic plan.              b. Evaluate the remuneration policy based on
          e. Develop a system and procedure for the election                  performance, risk, fairness with peer groups,
             and/or replacement of members of the Board of                    goals and long-term strategies of the Company,
             Directors and/or Board of Commissioners to be                    fulfillment of reserves as stipulated in laws and
             submitted to the GMS.                                            regulations and potential future income of the
          f. Provide proposals for the appointment, dismissal,                Company.
             and/or replacement of members of the Board                    c. Evaluate the Remuneration Policy for Employees
             of Directors and/or members of the Board of                      that requires approval/response from the Board
             Commissioners to the GMS.                                        of Commissioners.



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GOVERNANCE
 GOVERNANCE                  & PRACTICES                               RESPONSIBILITY                         STATEMENTS 2023




                                                             Remuneration and Nomination Committee



    d. Ensure that the Remuneration Policy is in                           Remuneration and Nomination Committee Authority
       accordance with applicable regulations including                    The Remuneration and Nomination Committee has the
       the Regulations of the Minister of State-Owned                      following authority:
       Enterprises, Regulations of the Financial Services                  1. Communicating with the Head of Unit and other parties
       Authority, and other relevant prevailing laws and                        in the Company to obtain information, clarification
       regulations.                                                             and requesting the required documents and reports.
    e. Submitting evaluation results and recommendations                   2. Requesting the Company to conduct surveys
       to the Board of Commissioners regarding the                              according to the needs of the Remuneration and
       Remuneration Policy for the Board of Directors                           Nomination Committee.
       and/or Board of Commissioners to be submitted                       3. Accessing records or information about employees,
       to the GMS.                                                              funds, assets and other company resources related
    f. Submitting the overall Remuneration Policy                               to the implementation of their duties.
       for Employees to be submitted to the Board of                       4. Obtaining input and or suggestions from outside parties
       Directors.                                                               of the Company relating to their duties.
    g. C o n d u c t p e r i o d i c e v a l u a t i o n s o f t h e       5. Performing other authorities granted by the Board of
       implementation of the Remuneration Policy.                               Commissioners.

 4. Related to Development Function                                        Remuneration and Nomination Committee Tenure
    a. Prepare proposals for Development Programs for                      The tenure of members of the Remuneration and
       members of the Board of Directors and/or members                    Nomination Committee as members of the Board of
       of the Board of Commissioners/Supervisory.                          Commissioners, shall not be longer than the tenure of
    b. Conducting periodic reviews of the Company’s                        the Board of Commissioners as stipulated in the Articles
       Talent Management System, as well as monitoring                     of Association and can be re-elected for the next 1 (one)
       and evaluating its implementation.                                  period. Whereas the tenure of the Remuneration and
    c. Evaluate the system and procedure of Talent                         Nomination Committee members from Non-Commissioner
       Classification conducted by the Board of Directors.                 Independent Parties is the latest 3 (three) years and can
    d. Validating and calibrating the Talents proposed                     be extended 1 (one) time during 2 (two) years of tenure,
       by the Board of Directors to the Board of                           by not eliminating the rights of the Board of Commissioners
       Commissioners/Supervisory Board (Selected Talent)                   to terminate at any time.
       to produce a list of Talents to be nominated by the
       Board of Commissioners/Supervisory Board to the                     Remuneration and Nomination
       GMS/Minister of SOEs (Nominated Talent).                            Committee Reporting
    e. Evaluate the Company’s Representative                               The Remuneration and Nomination Committee must report
       Candidates who will be proposed as members                          the implementation of duties, that are carried out for each
       of the Board of Directors or members of the Board                   assignment given and/or for any problems identified that
       of Commissioners of Financial Services Institutions                 require the attention of the Board of Commissioners or at
       (FSIs) in the Financial Conglomeration, before being                least 2 (two) times in 1 (one) year.
       submitted to the GMS/Minister of SOEs.

 5. Prepare and submit an annual work plan and budget
    to the Board of Commissioners to be determined prior
    to the current financial year. Furthermore, a copy of the
    annual work plan and budget shall be submitted by
    the Board of Commissioners to the Board of Directors
    of the SOE for their information.




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            HIGHLIGHTS                        REPORT                                     PROFILE                                AND ANALYSIS




      Remuneration and Nomination Committee



      Remuneration and Nomination Committee Qualifications and Experience
      Members of the Remuneration and Nomination Committee have at least the following qualifications:
      1. General Requirements
         a. Having integrity, character and good morals.
         b. Does not have personal interests/relationships that can cause conflict of interest against the Company.
      2. Competence Requirements
         a. Having sufficient expertise, ability, knowledge and experience related to their duties and responsibilities, specifically
            related to the provisions of the Bank’s remuneration and/or nomination system and succession plan.
         b. Able to work together and to communicate well and effectively and are willing to provide sufficient time to
            carry out their duties.
         c. Have adequate knowledge of the Company’s Articles of Association, laws and regulations in the banking sector,
            Capital Market, SOEs and other relevant laws and regulations.
         d. Willing to increase competencies continuously through education and training.

      The qualifications and professional background of the Chairman and Members of the Remuneration and Nomination
      Committee are as follows.

                              Remuneration and Nomination Committee Qualifications and Professional Background
           Name              Position            Period                          Education                              Professional Background
      M. Chatib Basri    Chairman and      1 January – 31       •   Bachelor Degree in Economics                Professional background in finance and
                         Member            December 2023        •   Master of Business Administration in        corporate oversight.
                                                                    Economic Development
                                                                •   Ph. D in Economics
      Andrinof A.        Member            1 January – 31       •   Bachelor Degree in Social and Political     Professional background in banking and
      Chaniago                             December 2023            Science                                     corporate oversight.
                                                                •   Master Degree in Public Planning and
                                                                    Policies
      Muliadi Rahardja Member              10 March – 31        •   Bachelor of Accounting                      Professional background in banking and
                                           December 2023        •   Master of Business Administration in        corporate oversight
                                                                    Finance
      Rionald Silaban    Member            1 January – 31       •   Bachelor of Law                             Professional background in finance and
                                           December 2023        •   Master of Law Center                        human capital
      Arif Budimanta     Member            1 January – 31       •   Bachelor in Soil Science                    Professional background in banking.
                                           December 2023        •   Master of Sains in Natural Resources
                                                                    Economics
                                                                •   Doctorate in Social and Political Science
      Votivia Mardinna Non-Voting          1 – 31               •   Bachelor in Economy                         Professional background including in
                       Member and          December 2023                                                        human capital.
                       Secretary


      Remuneration and Nomination Committee Independence
      All members of the Remuneration and Nomination Committee from independent parties do not have financial,
      management, shareholding and/or family relations with the Board of Commissioners, Directors and/or Controlling
      Shareholders or relationship with Bank Mandiri, which can affect its ability to act independently.



                                              Remuneration and Nomination Committee Independence
                                                                                    M.         Andrinof
                                                                                                                 Muliadi       Rionald          Arif
                             Independence Aspects                                 Chatib         A.
                                                                                                                Rahardja       Silaban       Budimanta
                                                                                   Basri      Chaniago
      Does not have financial relations with the Board of Commissioners and          √             √               √               √              √
      Directors
      Does not have management relations in the company, subsidiaries, or            √             √               √               √              √
      affiliates
      Does not have shareholding relations in the company                            √             √               √               √              √




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                                                                    Remuneration and Nomination Committee


                                            Remuneration and Nomination Committee Independence
                                                                                  M.        Andrinof
                                                                                                            Muliadi         Rionald       Arif
                            Independence Aspects                                Chatib        A.
                                                                                                           Rahardja         Silaban    Budimanta
                                                                                 Basri     Chaniago
  Does not have family relations with the Board of Commissioners, Directors       √             √               √                 √           √
  and/or with fellow members of Committee
  Does not serve as the management in political parties, officials and in the     √             √               √                 √           √
  government


 Meetings of Remuneration and Nomination Committee
 The Remuneration and Nomination Committee holds regular meetings at least 1 (one) time in 4 (four) months. The
 meetings can only be held if attended by at least 51% of the total committee members including 1 (one) Independent
 Commissioner and 1 (one) Executive in charge of the Human Resources function or 1 (one) employee representative.

 Decisions of the Remuneration and Nomination Committee meetings are taken based on deliberation to reach
 consensus. The meeting shall be chaired by the Chairman of the Remuneration and Nomination Committee or other
 member that serves as Independent Commissioner if the Chairman of the Remuneration and Nomination Committee
 is unable to attend.

 Each Remuneration and Nomination Committee meeting is outlined in the minutes of the meeting, including dissenting
 opinions, which are signed by all members of the Committee present and submitted to the Board of Commissioners.

 During 2023, 12 (twelve) meetings were held with the following agenda.

                                          Remuneration and Nomination Committee Meeting Agenda
    No.                Tanggal                                                   Agenda Rapat                                          Kuorum
     1.     09 February 2023                 Proposal for Nomination of Candidates for the Board of Directors in Bank Mandiri's          100%
                                             Annual GMS for Fiscal Year 2022.
     2.     23 February 2023                 Talent Pool Proposal                                                                        100%
     3.     9 March 2023                     Proposed Remuneration of the Board of Directors and Board of Commissioners for 2023         100%
                                             and Tantiem and Long-Term Incentive (LTI) for Fiscal Year 2022.
     4.     14 March 2023                    Proposal of Bank Mandiri Management at the Annual GMS for Fiscal Year 2022.                 100%
     5.     17 April 2023                    •   Proposal of the Company’s Representative as a Member of the Board of                    100%
                                                 Commissioners and Directors of the Company’s Subsidiaries.
                                             •   Interview of Prospective Director of Subsidiary Company.
     6.     11 May 2023                      Proposed alignment of Bank Mandiri’s organizational structure.                              100%
     7.     25 May 2023                      Proposal of the Company’s Representative as a Member of the Board of                        100%
                                             Commissioners and Directors of the Company’s Subsidiaries.
     8.     27 July 2023                     •   Proposal of the Company’s Representative as Director of the Company’s                   100%
                                                 Subsidiary.
                                             •   Proposed Adjustment of Organizational Structure in the Directorate of Information
                                                 Technology and Directorate of Treasury & International Banking.
     9.     14 September 2023                LTI Proposal                                                                                80%
    10.     23 November 2023                 •   Proposed dismissal and appointment of Group Head Corporate Secretary.                   100%
                                             •   Group Head Corporate Secretary Candidate Interview.
    11.     28 November 2023                 Tantiem Budget Consultation in RKAP Year 2024.                                              100%
    12.     13 December 2023                 •   Proposed Key Performance Indicators (KPIs) of Collective and Individual Directors       100%
                                                 in 2023.
                                             •   Proposal of the Company’s Representative as a Member of the Board of
                                                 Commissioners and Directors of the Company’s Subsidiaries.




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             HIGHLIGHTS                           REPORT                                  PROFILE                           AND ANALYSIS




      Remuneration and Nomination Committee


                                      Remuneration and Nomination Committee Meeting Frequency and Attendance
                     Name                                     Position                         Total Meetings       Total Attendance      (%)
      M. Chatib Basri                          Chairman and Member                                     12                   12            100
      Andrinof A. Chaniago                     Member                                                  12                   12            100
      Muliadi Rahardja                         Member                                                  12                   12            100
      Rionald Silaban                          Member                                                  12                   11            92
      Arif Budimanta                           Member                                                  12                   12            100



      Key Performance Indicators Achievement of the Remuneration and Nomination Committee
      The achievement of the Remuneration and Nomination Committee KPIs during 2023 is evident from the realization of
      the work plan, the quality of the recommendations that have been prepared, and the quality of communication that
      has been carried out both with the Board of Commissioners, Board of Directors, and Leaders of related Work Units.

      In general, all work programs of the Committee as stated in the 2023 Remuneration and Nomination Committee Work
      Plan have been properly realized. In addition, all recommendations of the Remuneration and Nomination Committee
      have been accepted by the Board of Commissioners and taken into consideration in the decision-making process on
      proposals submitted by the Board of Directors. On communication aspect, good and intensive communication has
      been established during 2023 to discuss issues at Bank Mandiri and the progress of follow-up settlements carried out by
      the Board of Directors.

      Remuneration and Nomination Committee Remuneration
      The remuneration of the Remuneration and Nomination Committee for Non-Commissioner Independent parties is
      regulated in the Decree of the Board of Commissioners No. KEP.KOM/003/2023 tanggal 13 September 2023 concerning
      Remuneration of Supporting Organs of the Board of Commissioners of PT Bank Mandiri (Persero) Tbk and regulated in
      the Letter of Assignment as a member of the Committee under the Board of Commissioners issued by Bank Mandiri.

       No.                       Description                                          Non-Commissioner Committee Members
      1.      Salary/Honorarium                           At most 20% of President Director’s Salary
      2.      Post-Employment Compensation                Not provided
      3.      Holiday Allowance                           In accordance with Bank Mandiri employee stipulation
      4.      Bonus/Tantiem                               Not provided
      5.      Facilities
              - Transportation Allowance                  Not provided
              - Health                                    Provided as per the Bank’s Internal rules
              - Employment                                Provided as per the Bank’s Internal rules
              - Business Trips                            In accordance with Bank Mandiri employee stipulation/equivalent to Group Head



      Remuneration and Nomination Committee Activities in 2023
      In 2023, referring to the duties and functions of the Remuneration and Nomination Committee stated in Bank Mandiri
      Remuneration and Nomination Committee Charter, the Remuneration and Nomination Committee has provided
      recommendations/proposals for candidates who qualify as Members of the Board of Commissioners and Directors
      of the Bank to the Board of Commissioners for submission to the GMS. The proposal was obtained through a series of
      processes carried out by the Remuneration and Nomination Committee including the preparation of policies, criteria,
      and qualifications needed in the nomination process for prospective members of the Board of Commissioners and
      Directors in line with the Company’s strategic plan. The Remuneration and Nomination Committee also assists the
      Board of Commissioners in obtaining and analyzing data on prospective candidates for the Board of Directors from
      the talent pool of executives one level below the Board of Directors and identifying qualified candidates for the Board
      of Commissioners.




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                                                          Remuneration and Nomination Committee



 In addition to the nomination system, the Remuneration                 Succession Management
 and Nomination Committee has also assisted the Board of                In accordance with SOE Minister Regulation No. PER-
 Commissioners in proposing a suitable remuneration system              3/MBU/03/2023 Article 30, the basis for Succession
 for the Board of Directors and Board of Commissioners of               Management of Directors of State-Owned Enterprises,
 Bank Mandiri in the form of a payroll/honorarium, facilities/          is as follows:
 benefits, and tantiem system for 2023.                                 1. Succession management is the process of selecting
                                                                            SOE Directors from the Talent Pool of the Ministry of
 2024 Work Plans of the Remuneration                                        SOEs or other sources determined by the Minister.
 and Nomination Committee                                               2. Succession management is carried out by the Ministry
 At the end of 2023, the Remuneration and Nomination                        of SOEs through the Fit and Proper Test mechanism
 Committee has prepared a 2024 work plan and has                            by the Succession Committee and/or considering
 obtained approval from the Board of Commissioners.                         the results of Assessments from Professional Institutions.
 The work plan of the Remuneration and Nomination
 Committee in 2024 is divided into several activities,                  Procedures
 namely activities related to the functions of Nomination,              In the Nomination function, the Bank Mandiri Remuneration
 Remuneration, discussion of certain issues and internal                and Nomination Committee performs the following
 activities of the Remuneration and Nomination Committee.               procedures:
 The work plan is one of the KPIs that is the basis for assessing       1. Develop the composition and process of nominating
 the effectiveness of the Remuneration and Nomination                        the Directors and/or Commissioners.
 Committee’s performance during 2024.                                   2. Formulate policies and criteria of nominating process
                                                                             of candidates of Directors and/or Commissioners.
 BOARD OF DIRECTORS                                                     3. Identify candidates who meet the criteria.
 SUCCESSION POLICY                                                      4. Assist the performance assessment of the Board of
                                                                             Directors and/or Board of Commissioners.
 The Board of Directors succession policy of Bank                       5. Develop capacity building programs for the Directors
 Mandiri refers to the Minister of SOE Regulation No.                        and/or Commissioners.
 PER-3/MBU/03/2023 concerning Organs and Human                          6. Review and propose candidates that fulfils the
 Resources of State-Owned Enterprises. One of the duties                     requirements as Commissioners and/or prospective
 of the Remuneration and Nomination Committee is to                          Directors to the Board of Commissioners for submission
 form a nomination system for members of the Board                           to the GMS.
 of Commissioners and/or Directors of the Company                       7. The selection process is carried out prior to the tenure
 that will be part of the Good Corporate Governance                          ends or is requested by the Board of Commissioners,
 Policy of the Company and become a guideline for the                        or if there is a vacancy.
 Board of Commissioners and the GMS in determining
 the remuneration and nomination of the Board of
 Commissioners and/or Directors.

 Basic Principles
 Requirements for Board of Directors and Board of
 Commissioners.
 1. Candidates for Directors and Commissioners must
    meet the requirements determined in the Company’s
    Articles of Association and the applicable laws and
    regulations.
 2. Candidacy and Candidate Proposal for Board of
    Directors and Board of Commissioners.
 3. Candidates for Directors and Commissioners are
    proposed through a selection by taking into account
    the set requirements.




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            HIGHLIGHTS                 REPORT                           PROFILE                        AND ANALYSIS




      Remuneration and Nomination Committee



      Requirements and Criteria
      The requirements and criteria for candidates of Board of Directors and/or Commissioners are in accordance with the
      Company’s Articles of Association and other applicable provisions, which are as follows:
      1. The person eligible as a member of the Board of Directors and/or Commissioners is an individual with legal capacity
         and has never been declared bankrupt or convicted which cause bankruptcy of a company, or an individual who
         has never been sentenced for criminal offense which harm the State treasury within 5 (five) years prior to his/her
         appointment, one or the other by taking into account the prevailing laws and regulations.
      2. Does not have family relations to third degree, both horizontally or vertically nor by marriage (in laws) with other
         Directors or Commissioners.
      3. Does not listed in the banking blacklist as determined by bank supervisory authorities.
      4. Has good integrity, in the sense of:
         a. Having good character and morals.
         b. Complying with prevailing laws and regulations.
         c. Having high commitment to the development of sound bank operations.
         d. Deemed fit and proper to be a member of Board of Directors and/or Commissioners.
      5. Integrity assessment is conducted by evaluating the candidates in the sense that they have never done any of the
         following:
         a. Banking manipulation and practices that deviate from banking regulations.
         b. Actions categorized as non-fulfilment of commitments to Bank Indonesia or Government.
         c. Actions categorized as beneficial to Owner, Management, Employees, and or other parties that may detrimental
              or reduce bank’s profit.
         d. Actions categorized as violation of the provisions related to banking prudential principles.
         e. Actions by Management and Executives categorized as not independent.
      6. Fulfil the competence criteria, in the sense of having:
         a. Adequate knowledge in Banking.
         b. Experience and expertise in Banking and or Financial Institution.

         c. Ability to perform strategic management for the development of sound Banks.
      7. Other than the above criteria, the following additional criteria are also required:
         a. Having leadership skill supported by knowledge in economics, accounting and law.
         b. For the Board of Commissioners, require having experience in banking or other financial institution supervisory.
         c. For the Board of Directors, require having at least 3 (three) years’ experience as Senior Management in banking
            or other financial institutions.

      The candidates of Directors may be proposed from the Board of Commissioners following the assessment and if deemed
      eligible can be proposed to the SOE Minister. The candidates that will be nominated as Directors shall meet formal
      and other requirements set by PER- 03/MBU/02/2015 and OJK Regulation No. 33/POJK.04/2014 regarding the Board of
      Directors and Board of Commissioners of Issuers or Public Companies and has passed the Fit and Proper Test carried
      out by the OJK.




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GOVERNANCE
 GOVERNANCE                     & PRACTICES                           RESPONSIBILITY                                        STATEMENTS 2023




                                                                 Remuneration and Nomination Committee



 Since 2021, Bank Mandiri has sent a list of top talent employees at the BoD-1 level to the Ministry of SOEs. Furthermore, the
 Ministry of SOEs will evaluate the list of top talents and assign one of the institutions organizing the talent assessment of
 the Directors of the Ministry of SOEs. The candidates that obtain recommendations from the Assessor Service Company
 will be reported by the Remuneration and Nomination Committee to the Board of Commissioners as the candidates
 for submission to the GMS.




                            Remuneration and
                                                                    Board of
                          Nomination Committee                    Commissioners


                                     1                                    2

                                                                                                     Series A Dwiwarna
                                                                                                        Shareholders




                                    FSA
                                                                        GMS


                                     5                                    4                                     3

                                    • Reviewing the
   1   Prepare and propose
       Recommendations
                                2     Proposal of the        3   • Evaluation of
                                                                   the Fulfillment of
                                                                                          4   Appointment and
                                                                                              Succession of Directors
                                                                                                                        5     • Conduct Fit and
                                                                                                                                Proper Test
       for Board of Directors         Remuneration                 Requirements of                                            • Approval of
       Succession                     and Nomination               Candidates for                                               the Company’s
                                      Committee                    Members of the                                               Management
                                    • Proposing Board of           Board of Directors                                           Candidate
                                      Directors Succession       • Approval of Board of
                                      to Series A Dwiwarna         Directors Succession
                                      Shareholders




                                                                                                                             ANNUAL REPORT 2023   613
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            HIGHLIGHTS                 REPORT                       PROFILE                         AND ANALYSIS




      RISK OVERSIGHT COMMITTEE




            Bank Mandiri Board of Commissioners established the Risk Oversight
            Committee to assist in carrying out its duties and responsibilities
            regarding oversight and advisory to the Board of Directors, by
            ensuring that the risk management procedures and methodologies
            continue to be adequate. This ensures that the Bank’s business
            activities remain within acceptable limits and continue to be
            advantageous to the Bank




      Legal Basis of Establishment                               Structure, Membership and Profile of
      The establishment of the Committee is guided by and        the Risk Oversight Committee
      refers to the prevailing laws and regulations as well as   The structure and membership of the Risk Oversight
      banking best practices in Indonesia, such as:              Committee are as follows:
      1. SOE Minister Regulation No. PER-2/MBU/03/2023 on        1. The Risk Oversight Committee consists of at least 3
          Guidelines for Governance and Significant Corporate       (three) members from Independent Commissioners
          Activities of State-Owned Enterprises;                    and Non-Commissioners Independent Parties.
      2. SOE Minister Regulation No. PER-3/MBU/03/2023           2. The composition of the Risk Oversight Committee
          on Organs and Human Resources of State-Owned              membership is at least 1 (one) Independent
          Enterprises.                                              Commissioner as Chairman and concurrently an
      3. POJK No. 17/POJK.03/2014 on the Implementation             experienced member in finance, risk management,
          of Integrated Risk Management for Financial               and/or business, 1 (one) Non-Commissioner
          Conglomerates.                                            Independent Party who has expertise in finance, and
      4. POJK No. 45/POJK.03/2020 concerning Financial              1 (one) Non-Commissioner Independent Party who
          Conglomerates;                                            has expertise in risk management.
      5. POJK No. 17 of 2023 on the Implementation of            3. Members of the Risk Oversight Committee from Non-
          Corporate Governance for Commercial Banks.                Commissioners Independent Parties are considered
      6. Bank Mandiri Articles of Association and its               to have expertise in finance by meeting the following
          amendments.                                               criteria:
      7. Board of Commissioners Decree No. KEP.KOM/002/2023         a. Have knowledge in economics, finance and/
          dated 25 August 2023 regarding the Membership                  or banking. Have at least 5 (five) years of work
          Composition of the Audit Committee, Risk Oversight             experience in economics, finance, and/or banking.
          Committee, Integrated Governance Committee and            b. Have at least 5 (five) years of work experience in
          Remuneration and Nomination Committee of PT Bank               economics, finance, and/or banking.
          Mandiri (Persero) Tbk.                                 4. Members of the Risk Oversight Committee from Non-
      8. Decree of the Board of Directors No. KEP.DIR/016/2023      Commissioners Independent Parties are considered
          dated 11 April 2023 on the Determination of               to have expertise in risk management by meeting the
          Membership of the Risk Oversight Committee of PT          following criteria:
          Bank Mandiri (Persero) Tbk.                               a. Have knowledge in risk management; and/or
                                                                    b. Have at least 2 (two) years of work experience in
                                                                         risk management.



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                                                                                                                   RISK OVERSIGHT COMMITTEE



 5. Members of the Board of Directors of the Company and other banks are prohibited from becoming members of
    the Risk Oversight Committee.
 6. Independent Commissioners and Non-Commissioners who are members of the Risk Oversight Committee are at
    least 51% (fifty one percent) of the total members of the Risk Oversight Committee.
 7. The Chairman of the Risk Oversight Committee can only concurrently serve as chairman of the Committee at most
    1 (one) other Committee.
 8. In carrying out its daily duties, the Committee may be assisted by staff and/or Committee Secretaries appointed
    based on the resolution of the Risk Oversight Committee meeting.

 As of 31 December 2023, the composition of the Risk Oversight Committee’s membership appointed based on the
 Decree of the Board of Directors No. KEP.DIR/016/2023 dated 11 April 2023 regarding the Determination of Risk Oversight
 Committee Membership, is as follows:

                                                  Risk Oversight Committee Composition as of 31 December 2023
                Name                          Position in the Committee                    Position in the Company               Period
  Andrinof A. Chaniago                    Chairman and Member                       Vice President Commissioner/               2020-2025
                                                                                    Independent
  Loeke Larasati Agoestina                Member                                    Independent Commissioner                   2020 - 2025
  Heru Kristiyana*)                       Member                                    Independent Commissioner                   2023 - 2028
  Nawal Nely                              Member                                    Commissioner                               2021 - 2026
  Arif Budimanta                          Member                                    Commissioner                               2020 - 2025
  Chrisna Pranoto                         Member                                    Independent Party                          2019 - 2024
  Caroline Halim                          Member                                    Independent Party                          2021 - 2026
  *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.




 Risk Oversight Committee Profile
 The profile of the Risk Oversight Committee members as members of the Board of Commissioners is presented in Chapter
 3 Profile of the Board of Commissioners in this Annual Report.

 The following is profile of the Risk Oversight Committee members as non-Commissioners, independent parties.

                                                                         Period of Assignment
                                                                         30 April 2019 – Present

                                                                         Educational Background
                                                                         • Bachelor of Agronomy from Bogor Agricultural University (1986)
                                                                         • Master of International Business Management from Gadjah Mada
                                                                           University (1998)

                                                                         Legal Basis of Appointment
                                                                         Appointed as member of the Risk Oversight Committee as of 30 April
                                                                         2019 pursuant to the Board of Directors Decree No. KEP.DIR/032/2019.

                                                                         Professional Background
                                                                         • President Commissioner of PT Gedung Bank Exim (October 2018 -
                                                                            present)
                                                                         • Group Head Compliance at Bank Mandiri (2015 - 2018)
                                                                         • Head of Change Management Office at Bank Mandiri (2014)
                                                                         • President Commissioner of PT Mandiri Manajemen Investasi (2013 -
       Chrisna Pranoto
       Member of Risk Oversight                                             2015)
       Committee, Independent Party                                      • Group Head Distribution Network II at Bank Mandiri (2013-2014)
       Age: 61 Years old                                                 • Group Head Central Operations at Bank Mandiri (2012 - 2013)
       Citizenship: Indonesian
                                                                         • Group Head Credit Operations at Bank Mandiri (2007-2012)
                                                                         • Member of the Supervisory Board of Bank Mandiri Pension Funds
                                                                            (2006 - 2011)




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            HIGHLIGHTS                   REPORT                            PROFILE                            AND ANALYSIS




      RISK OVERSIGHT COMMITTEE




                                                       Period of Assignment
                                                       02 August 2021 – Present

                                                       Educational Background
                                                       Bachelor of Accounting from University of Indonesia (1987)

                                                       Legal Basis of Appointment
                                                       Appointed as member of the Risk Oversight Committee as of 02 August 2021
                                                       pursuant to the Board of Directors Decree No. KEP.DIR/037/2021.

                                                       Professional Background
                                                       • Member of Audit Committee & Member of Risk Oversight Committee of PT
                                                          Bank Sahabat Sampoerna (2020 -July 2021)
                                                       • Member of Audit Committee & Member of Risk Oversight Committee of PT
                                                          Rabobank International Indonesia (2018 –2020)
                                                       • Group Head Risk Management PT Bank QNB Indonesia Tbk (2012 –2017)
          Caroline Halim
                                                       • Group Head Risk Management PT Bank ICB Bumiputera Tbk (2010 – 2011)
          Member of Risk Oversight
          Committee, Independent Party                 • Group Head Credit Risk Analytic PT CIMB Niaga (1988 – 2010)
          Age: 61 Years old
          Citizenship: Indonesian




      Risk Oversight Committee Charter                                    c. Adequacy of the process of identifying, measuring,
      In carrying out its duties and responsibilities, the Bank              monitoring, controlling and risk management
      Mandiri Risk Oversight Committee has a Risk Oversight                  information systems.
      Committee Charter, which was most recently updated                  d. The Company’s compliance with the Articles of
      on 12 October 2023 based on the Decree of the Board of                 Association, Bank and Capital Market Supervisory
      Commissioners No. KEP. KEP. KOM/004/2023.. The Charter                 Authority regulations, as well as other laws and
      includes:                                                              regulations related to risk management.
      1. General Purpose                                               2. Carrying out monitoring and review of:
      2. Basic Regulations                                                a. Risk Profile Report, bank only and consolidated.
      3. Duties, Responsibilities and Authority                           b. The Bank Rating Report of risk-based, bank only
      4. Composition, Structure and Membership Requirements,                 and consolidated.
          and Tenure                                                      c. Other reports related to the management of
      5. Meeting                                                             10 (ten) types of risk, namely Credit Risk, Market
      6. Reports and Recommendations                                         Risk, Operational Risk, Liquidity Risk, Legal Risk,
      7. Closing                                                             Compliance Risk, Reputation Risk, Strategic Risk,
                                                                             Intra Group Transaction Risk, and Insurance Risk.
      Duties and Responsibilities of the Risk Oversight Committee         d. General credit policies and other obligations
      The duties and responsibilities of the Risk Oversight                  required by the Regulator to be submitted to the
      Committee include:                                                     Board of Commissioners by the Board of Directors.
      1. Monitoring and evaluating:                                    3. Providing recommendations to the Board of
         a. Conformity between the risk management policy                 Commissioners for:
              and the Company’s integrated risk management                a. Items that can support an increase in the
              policy and the implementation of the policy.                   effectiveness of the implementation of risk
         b. Implementation of the work plan and duties of                    management in the Company and Financial
              the Risk Management Committee, Integrated Risk                 Services Institutions within the Financial
              Management Committee, Risk Management Work                     Conglomerates.
              Unit, and Integrated Risk Management Work Unit
              of the Company.




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                                                                                    RISK OVERSIGHT COMMITTEE



    b. Conformity between the Company’s risk                       for a maximum of 2 (two) years, without prejudice to the
       management policies and integrated risk                     right of the Board of Commissioners to dismiss them at
       management policies with the implementation                 any time.
       of these policies to ensure that the Company has
       managed risks adequately.                                   If a member of the Board of Commissioners who is the
    c. Implementation of work plans and duties of                  Chairman of the Risk Oversight Committee resigns prior to
       the Risk Oversight Committee, Integrated Risk               his term of service as Commissioner of the Company, the
       Management Committee, Risk Management Unit,                 Chairman of the Risk Oversight Committee is replaced by
       as well as Integrated Risk Management Unit.                 another Independent Commissioner. If the term of service
                                                                   as the Board of Commissioners ends, then the term of
 4. Conducting regular meetings with relevant work                 service as a member of the Risk Oversight Committee
    units to discuss matters that are within the scope of          also ends.
    supervision.
 5. Reporting the results of monitoring and review                 Risk Oversight Committee members from Non-
    periodically, as well as providing input on matters that       Commissioners Independent Parties are given a monthly
    need to be considered by the Board of Commissioners.           honorarium, the amount of which is determined by
 6. Developing the Risk Oversight Committee Charter                the Board of Commissioners while still referring to the
    and conduct a review as needed, at least every 2               prevailing laws and regulations and taking into account
    (two) years.                                                   the Company’s capabilities.

 Risk Oversight Committee Authority                                Education Qualification and Work
 The Risk Oversight Committee has the authority to:                Experience of Risk Oversight Committee
 1. Communicate with the Head of Work Unit and                     Requirements for members of the Risk Oversight Committee
    other parties in the Company to obtain information,            are as follows:
    clarification and request needed documents and                 1. General Requirements
    reports.                                                          a. Having integrity, character and good morals.
 2. Access records or information about employees, funds,             b. Does not have personal interests/relationships
    assets and other company resources related to the                     that can cause conflict of interest against the
    implementation of their duties.                                       Company.
 3. Obtain a Risk Profile Report, Bank Soundness Report,           2. Competency Requirements
    and other reports related to the application of risk              a. Having sufficient expertise, ability, knowledge
    management, both individually and Consolidated                        and experience related to their duties and
    with Subsidiaries.                                                    responsibilities.
 4. Obtain input and or suggestions from outside parties              b. Having sufficient knowledge to read and
    of the Company relating to their duties.                              understand financial statements and reports
 5. Perform other authorities granted by the Board of                     related to monitoring the implementation of
    Commissioners.                                                        banking risk management policies.
                                                                      c. Able to work together and have the ability to
 Risk Oversight Committee Tenure                                          communicate well and effectively and are willing
 The tenure of members of the Risk Oversight Committee                    to provide sufficient time to carry out their duties.
 shall not be longer than the term of office of the Board of          d. Having adequate knowledge of the Company’s
 Commissioners as stipulated in the Articles of Association               Articles of Association, laws and regulations in the
 and may be re-elected for the next 1 (one) period. The                   banking sector, Capital Market, SOEs and other
 term of service of members of the Risk Oversight Committee               relevant laws and regulations.
 originating from Non-Commissioners Independent Parties               e. Willing to enhance competencies continuously
 is a maximum of 3 (three) years and can be reappointed                   through education and training.




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      RISK OVERSIGHT COMMITTEE



      The qualifications and professional background of the Chairman and Members of the Risk Oversight Committee are
      as follows.

                                             Risk Oversight Committee Qualifications and Professional Background
            Name              Position             Period                          Education                               Professional Background
      Andrinof A.          Chairman   1 January – 31            •   Bachelor Degree in Social and Political     Professional background in banking and
      Chaniago             and Member December 2023                 Science                                     corporate oversight.
                                                                •   Master Degree in Public Planning and
                                                                    Policies
      Loeke Larasati       Member            1 January – 31     •   Bachelor of Law                             Professional background in law and banking.
      Agoestina                              December 2023      •   Master Degree in Management
      Heru Kristiyana      Member            21 August - 31     •   Bachelor in Law                             Have work experience, among others, in the
                                             December 2023      •   Master in Management                        field of banking supervision.
      Nawal Nely           Member            1 January – 31     •   Bachelor Degree in Accounting               Professional background in audit, risk
                                             December 2023      •   Executive Master of Business                management and corporate oversight.
                                                                    Administration
      Arif Budimanta       Member            1 January – 31     •   Bachelor in Soil Science                    Professional background in law and banking.
                                             December 2023      •   Master of Science in Natural Resources
                                                                    Economics
                                                                •   Doctorate in Social and Political Science
      Chrisna Pranoto      Member            1 January – 31     •   Bachelor of Agronomy                        Professional background in banking, risk
                                             December 2023      •   Master of International Business            management and compliance.
                                                                    Management
      Caroline Halim       Member            1 January – 31     •   Bachelor Degree in Accounting               Professional background in banking, risk
                                             December 2023                                                      management and audit.



      Risk Oversight Committee Independence
      All members of Risk Oversight Committee from independent party have no financial, management, shareholding
      relationship and/or family relationship with the Board of Commissioners, Board of Directors and/or Controlling Shareholders
      or relationship with the Bank that can affect their abilities to act independently.

                                                              Risk Oversight Committee Independence
                                                            Andrinof
                                                                             Heru        Loeke Larasati       Nawal       Arif         Chrisna       Caroline
                  Independence Aspects                         A.
                                                                          Kristiyana       Agoestina           Nely    Budimanta       Pranoto        Halim
                                                            Chaniago
      Does not have financial relations with the
                                                                √              √                √               √           √              √               √
      Board of Commissioners and Directors
      Does not have management relations in the
                                                                √              √                √               √           √              √               √
      company, subsidiaries, or affiliates
      Does not have shareholding relations in the
                                                                √              √                √               √           √              √               √
      company
      Does not have family relations with the Board
      of Commissioners, Directors and/or with fellow            √              √                √               √           √              √               √
      members of Committee
      Does not serve as the management
      in political parties, officials and in the                √              √                √               √           √              √               √
      government


      Risk Oversight Committee Meetings
      Risk Oversight Committee Meeting is held at least once a month. Risk Oversight Committee Meeting is considered valid
      if it is attended by at least 51% of members including one Commissioner and Independent Party.



      Agenda of Risk Oversight Committee Meetings
      In 2023, 25 meetings were held with the date of implementation, agenda and meeting participants as follows




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                                                                                                     RISK OVERSIGHT COMMITTEE


   No.                Date                                          Meeting Agenda                                             Quorum
    1.     12 January 2023          Outstanding Legal Case year 2022                                               100%
    2.     02 February 2023         Proposal for Providing Funds for Related Parties.                              100%
    3.     02 March 2023            Watchlist Debtors and Portfolio Conditions of SOE Debtors Quarter IV/2022.     85,7%
    4.     09 March 2023            Proposed Bank Mandiri Pension Fund Benefits in 2023.                           100%
    5.     16 March 2023            Lesson Learned dari Kasus Silicon Valey Bank (SVB)                             100%
    6.     31 March 2023            1. Bank Soundness Level Semester II/2022 and Risk Dashboard February           83,3%
                                       2023.
                                    2. Proposed Initiation of Operational Policy (KOPR) and Risk Management
                                       Policy (KMNR).
    7.     05 April 2023            1. Fixed Asset Optimization                                                    100%
                                    2. Outstanding Legal Case Quarter I/2023
    8.     03 Mei 2023              Subsidiary Company Corporate Action Plan.                                      83,3%
    9.     12 May 2023              1. Anti-Fraud Strategy Report (SAF) Semester II/2022.                          100%
    10.    15 June 2023             1. Debtor Watchlist and Credit Conditions of SOEs Quarter I/2023.              100%
                                    2. Risk Dashboard April 2023.
    11.    06 July 2023             Retail Banking Performance in the First Semester of 2023.                      100%
    12.    13 July 2023             Outstanding Legal Case Quarter II/2023                                         100%
    13.    20 July 2023             Proposal for Providing Funds for Related Parties.                              83,3%
    14.    03 August 2023           3. Proposal for Providing Funds for Related Parties.                           83,3%
                                    4. Network Strategy
    15.    16 August 2023           Foreign Office Performance in Semester I/2023.                                 100%
                                    Special Asset Management Performance in the First Semester of 2023
    16.    31 August 2023           Anti-Fraud Strategy Report (SAF) Semester I/2023.                              100%
                                    Proposal for Providing Funds for Related Parties.
    17.    14 September 2023        Proposal for Providing Funds for Related Parties.                              100%
    18     12 October 2023          Wholesale Product Transaction Banking Performance Quarter III/2023.            100%
    19     19 October 2023          Bank Soundness Level Semester I/2023 and Risk Dashboard August 2023.           100%
    20     26 October 2023          Proposed Recovery Plan Update for 2023                                         85,7%
    21     09 November 2023         Watchlist Debtors and Conditions of SOE Debtors Quarter III/2023.              100%
    22     16 November 2023         Proposed Sustainable Finance Action Plan (RAKB) for 2024-2028.                 85,7%
                                    Proposal for Providing Funds for Related Parties.
    23     23 November 2023         Outstanding Legal Case Quarter III/2023.                                       85,7%
    24     30 November 2023         Governance of the Establishment of CKPN.                                       85,7%
    25     13 December 2023         Progress of Implementation of Personal Data Protection Law.                    85,7%



                                   Meeting Frequencies and Attendance of Risk Oversight Committee
                    Name                                 Position                          Total Meetings        Total Attendance       (%)
  Andrinof A. Chaniago                Chairman and Member                                       25                        25            100
  Loeke Larasati Agoestina            Member                                                    25                        23            92
  Heru Kristiyana                     Member                                                    10                         9            90
  Nawal Nely                          Member                                                    25                        20            80
  Arif Budimanta                      Member                                                    25                        22            88
  Chrisna Pranoto                     Member                                                    25                        25            100
  Caroline Halim                      Member                                                    25                        25            100




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      RISK OVERSIGHT COMMITTEE




      Key Performance Indicators Achievement of Risk Oversight Committee
      The achievement of Key Performance Indicators (KPI) of the Risk Oversight Committee during 2023 is evident from
      the realization of the work plan, the quality of the recommendations that have been prepared, and the quality of
      communication that has been carried out both with the Board of Commissioners, Board of Directors, and Leaders of
      related Work Units.

      In general, all work programs of the Committee as stated in the 2023 Risk Oversight Committee Work Plan have been
      properly realized. In addition, all recommendations of the Risk Oversight Committee have been accepted by the Board
      of Commissioners and taken into consideration in the decision-making process on proposals submitted by the Board of
      Directors. On communication aspect, good and intensive communication has been established during 2023 to discuss
      issues at Bank Mandiri and the progress of follow-up settlements carried out by the Board of Directors.

      Risk Oversight Committee Remuneration
      The remuneration of the Risk Oversight Committee of Independent Non-Commissioners is regulated in the Decree of
      the Board of Commissioners No. KEP.KOM/003/2023 dated 13 September 2023 concerning Remuneration of Supporting
      Organs of the Board of Commissioners of PT Bank Mandiri (Persero) Tbk and regulated in the Letter of Assignment as a
      member of the Committee under the Board of Commissioners issued by Bank Mandiri.

       No.                      Description                                    Non-Commissioner Committee Members
      1.     Salary/Honorarium                      At most 20% of President Director’s Salary
      2.     Post-Employment Compensation           Not provided
      3.     Holiday Allowance                      In accordance with Bank Mandiri employee stipulation
      4.     Bonus/Tantiem                          Not provided
      5.     Facilities
             - Transportation Allowance             Not provided
             - Health                               Provided as per the Bank’s Internal rules
             - Employment                           Provided as per the Bank’s Internal rules
             - Business Trips                       In accordance with Bank Mandiri employee stipulation/equivalent to Group Head




      Activities Report of the Risk
      Oversight Committee in 2023
      The Risk Oversight Committee has carried out its duties and              2. Non-Regular, which includes the concern and focus
      functions as stipulated in the Risk Oversight Committee                     of the Risk Oversight Committee on certain issues
      Charter by applying the GCG principles in accordance                        regarding risk management, particularly related to
      with prevailing regulations, and in line with the Committee                 the effectiveness of the implementation of the 3-3-1
      2023 work plans that has been approved by the Board                         strategy, credit, operations & IT, adequacy of SOPs,
      of Commissioners.                                                           and the quality of performance of the Company’s
                                                                                  Subsidiaries.
      The 2023 work plans of the Risk Oversight Committee are
      divided into 2 (two) activities, namely Mandatory/Regular                The following were activities of the Risk Oversight
      and Non-Regular as follows:                                              Committee in 2023:
      1. Mandatory/Regular, which includes review of Risk                      1. Held 25 Risk Oversight Committee Meetings, including
          Profile Report, review of Bank’s Rating Report, review                  compiling and documenting Meeting Minutes.
          of Anti-Fraud Strategy Realization Report, review of                 2. Held 69 Internal Discussions, Discussions with related
          Corporate Work & Budget Plans and Bank Business                         Work Units, as well as Joint Discussions with the Audit
          Plan, implementation of Compliance, management                          Committee, including compiling and documenting
          of the Bank’s 8 (eight) Risks, and Internal Activities of               Minutes of Discussion.
          the Risk Oversight Committee.




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                                                                                   RISK OVERSIGHT COMMITTEE




 3. Reviewed more than 25 reports, including Risk Profile Report, Bank Soundness Rating Report, Debtor Report with
    Credit Limit of over Rp3 trillion individually, Wholesale Segment Watchlist Debtor Report, and Anti-Fraud Strategy
    Realization Report.
 4. Reviewed more than 15 Proposals/Recommendations of the Board of Directors that require written approval from
    the Board of Commissioners, including Proposals for Providing Funds to Related Parties, Corporate Action, Proposed
    Corporate Work & Budget Plans (RKAP) and Bank Business Plans (RBB) and revisions, Proposed Sustainable Finance
    Action Plan (RKAB), and Proposed Recovery Plan Initiation.
 5. Prepared 4 (four) quarterly reports on Committee activities and have been submitted to the Board of Commissioners.
 6. Conducted 6 (six) Site Visits including the preparation of Visit Results Reports, namely to Region X-Palu (05 April 2023),
    Region VII-Area DI Yogyakarta (12-14 April 2023), Region X-Morowali (16 May 2023), CISO Office & Lab. Forensic (08
    June 2023), Mandiri University (25 July 2023), and Region I-Area Batam (21-22 August 2023).
 7. Prepared a Risk Oversight Committee Work Plan for 2024.

 All members of the Committee have participated in at least 1 (one) competency development activity related to
 Banking / Risk Management.

 Risk Oversight Committee Work Plans for 2024
 At the end of 2023, the Risk Oversight Committee has prepared a 2024 work plan and has obtained approval from
 the Board of Commissioners. The 2024 Risk Oversight Committee work plan is divided into 2 (two) activities, namely
 Mandatory/Regular and Non-Regular as follows:
 1. Mandatory/Regular, which includes review of Risk Profile Reports, Bank Soundness Reports, Debtor Reports with Limits
     above Rp3 Trillion, Wholesale Debtor Reports Watchlist Category, Stress Test Results, Anti-Fraud Strategy Realization
     Reports, Realization of Company Work Plans & Budgets (RKAP) and Bank Business Plans (RBB), Sustainable Finance
     Action Plan (RAKB), implementation of Compliance, management of 8 (eight) types of Bank Risk, and Internal
     Activities of the Risk Oversight Committee.
 2. Non-Regular, which includes matters that are the concern and focus of the Risk Oversight Committee, including
     business and credit, operations & IT, and GRC.

 The work plan is one of KPIs that serves as a basic of performance effectiveness assessment of the Risk Oversight
 Committee in 2024.




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      INTEGRATED GOVERNANCE COMMITTEE




            The Integrated Governance Committee has the duty and responsibility
            to assist the Board of Commissioners in carrying out its duties and
            supervisory functions over the implementation of Governance in
            each Financial Service Institution (FSI) in the Bank Mandiri Financial
            Conglomeration in accordance with the Integrated Governance
            Guidelines and the implementation of duties and responsibilities of the
            Bank’s Board of Directors. In addition, the Committee also functions
            to provide directive or advice to the Bank’s Board of Directors on
            the implementation and evaluation of the Integrated Governance
            Guidelines, including to provide direction for improvement



      This Committee is directly responsible to the Board of        8. Decree of the Board of Commissioners No. KEP.
      Commissioners. As such, member of the Corporate                  KOM/002/2023 dated 25 August 2023 concerning
      Governance Committee is appointed and dismissed by               the Composition of Audit Committee Membership,
      the Board of Commissioners.                                      Risk Oversight Committee, Integrated Governance
                                                                       Committee and Remuneration and Nomination
      Appointment Basis of Integrated                                  Committee of PT Bank Mandiri (Persero) Tbk.
      Governance Committee                                          9. Board of Directors Decree No. KEP. DIR/018/2023 dated
      The establishment of the Integrated Governance                   11 April 2023 concerning Determination of Membership
      Committee refers to the prevailing laws and regulations          of the Integrated Governance Com
      as well as banking best practices in Indonesia, as follows:
      1. SOE Minister Regulation No. PER-3/MBU/03/2023              Structure, Membership and Profile of the
         concerning Organs and Human Resources of State-            Integrated Governance Committee
         Owned Enterprises.                                         The Integrated Corporate Governance Committee
      2. SOE Minister Regulation No. PER-2/MBU/03/2023 on           membership consists of at least:
         Guidelines of Governance and Significant Corporate         1. An Independent Commissioner who acts as President
         Activities of State-Owned Enterprises.                        Commissioner of the Company and serves as
      3. POJK No. 33/POJK.04/2014 concerning the Board of              Chairman of one of the committees in the Company,
         Directors and Board of Commissioners of Issuers or            as chairman and concurrently member.
         Public Companies.                                          2. Independent Commissioner representing and
      4. POJK No. 18/POJK.03/2014 dated November 18,                   appointed from Financial Services Authority in the
         2014 concerning the Implementation of Integrated              Financial Conglomeration, as a member.
         Governance for Financial Conglomerates.                    3. At least one Non-Commissioner Independent Party,
      5. POJK No. 45/POJK.03/2020 concerning Financial                 as a member.
         Conglomerates.                                             4. Member of the Sharia Supervisory Board of Bank
      6. POJK No. 17/2023 on the Governance Implementation             Syariah Indonesia, as a member of the Independent
         for Commercial Banks.                                         Commissioner.
      7. Bank Mandiri Articles of Association and amendments.       5. Membership in the Integrated Governance Committee
                                                                       representing and appointed from the Financial
                                                                       Conglomeration in accordance with the needs of
                                                                       the Financial Conglomeration.

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                                                                                    INTEGRATED GOVERNANCE COMMITTEE




 6. Other committee members who are not members                                     8. The number and composition of members of the
    of the Board of Commissioners, are not members of                                  Integrated Governance Committee are adjusted to
    the Integrated Governance Committee, but may                                       the needs of the Financial Conglomeration, as well as
    be assigned to assist the duties of the Integrated                                 the efficiency and effectiveness of the implementation
    Governance Committee.                                                              of the duties of the Integrated Governance Committee
 7. Membership of Independent Commissioners,                                           by taking into account at least the representation of
    Non-Commissioners of Independent Parties, and                                      each financial services sector.
    members of the Sharia Supervisory Board in the
    Integrated Governance Committee of the Financial                                As of 31 December 2023, the composition of the Integrated
    Conglomeration is not counted as concurrent positions.                          Governance Committee’s membership appointed
                                                                                    based on the Decree of the Board of Directors No. KEP.

 DIR/018/2023 dated 11 April 2023 regarding the Determination of Integrated Governance Committee Membership, is
 as follows:

                                    Integrated Governance Committee Composition as of 31 December 2023
               Name                     Position in the Committee                   Position in Bank Mandiri & Other Companies                Period
  M. Chatib Basri                    Chairman & Member                    President Commissioner/Independent                                2019 - 2024
  Andrinof A. Chaniago               Member                               Vice President Commissioner/Independent                           2019 - 2024
  Loeke Larasati Agoestina           Member                               Independent Commissioner                                          2020 - 2025
  Zainudin Amali*)                   Member                               Independent Commissioner                                          2023 - 2028
  Faried Utomo                       Member                               Commissioner                                                      2020 - 2025
  M. Yusuf Ateh                      Member                               Commissioner                                                      2021 - 2026

  Chrisna Pranoto                    Member                               Independent Party                                                 2019 - 2024
  Rasyid Darajat                     Member                               Independent Party                                                 2021 - 2026
  Boedi Armanto                      Non-Voting Member                    Independent Commissioner PT Bank Mandiri Taspen                   2023 - 2026
  Hoesen                             Non-Voting Member                    Independent Commissioner PT Mandiri Sekuritas                     2023 - 2026
  Agus Retmono                       Non-Voting Member                    Independent Commissioner PT AXA Mandiri Financial Services        2023 - 2026
  Fendy Eventius Mugni               Non-Voting Member                    Independent Commissioner PT Mandiri Tunas Finance                 2023 - 2026
  Kusman Yandi                       Non-Voting Member                    Independent Commissioner PT Mandiri Utama Finance                 2023 - 2026
  Alamanda Shantika                  Non-Voting Member                    Independent Commissioner PT Mandiri Capital Indonesia             2023 - 2026
  Prastoeti Soewondo                 Non-Voting Member                    Independent Commissioner PT Asuransi Jiwa Inhealth Indonesia      2023 - 2024
  Mohamad Nasir                      Non-Voting Member                    Independent Commissioner PT Bank Syariah Indonesia Tbk            2023 - 2025
  Mohamad Hidayat                    Non-Voting Member                    Sharia Supervisory Board PT Bank Syariah Indonesia Tbk            2023 - 2026
  *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023.



 Integrated Governance Committee Profile
 The profile of the Integrated Governance Committee members as members of the Board of Commissioners is presented
 in Chapter 3 Profile of the Board of Commissioners, Chapter 5 sub section Audit Committee and Risk Oversight Committee
 in this Annual Report.

 The following is profile of the Integrated Governance Committee members as non-Commissioners/independent parties.




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      INTEGRATED GOVERNANCE COMMITTEE



                                                    Period of Assignment
                                                    25 October 2023 – Present

                                                    Educational Background
                                                    • Master of Agronomy of Bogor Agricultural Institute
                                                    • Master of Applied Economics University of Minnesota
                                                    • Doctor of Economics, University of Indonesia

                                                    Legal Basis of Appointment
                                                    Appointed as a member of the Integrated Governance Committee based on the Letter of the Board of
                                                    Commissioners No. DEKOM/068/2023 dated 25 October 2023 regarding the Change of Members of the
                                                    Integrated Governance Committee of Mandiri Group Representative of PT Bank Mandiri Taspen.

                                                    Professional Background
                                                    • Independent Commissioner of PT Bank Mandiri Taspen (2023-present)
                                                    • Independent Commissioner of PT Bank Mandiri (Persero) Tbk (2020 - 14 March 2023)
                                                    • Expert Staff of Banking Supervision of the Financial Services Authority (2019-2020)
                                                    • Acting Deputy Commissioner of Banking Supervision II of the Financial Services Authority (2019-2018)
                                                    • Deputy Commissioner of Banking Supervision I of the Financial Services Authority (2017-2019)
                                                    • Deputy Commissioner of Banking Supervision IV of the Financial Services Authority (2017-2017)
                                                    • Acting Deputy Commissioner of Banking Supervision IV Financial Services Authority (2016-2017)
                                                    • Deputy Commissioner of Banking Supervision II of the Financial Services Authority (2015-2017)
                                                    • Head of Department of Supervision Development and Crisis Management of the Financial Services
                                                        Authority (2014-2015)
                                                    • Head of Department of Development, Supervision and Crisis Management of Bank Indonesia (2013-
                                                        2013)
                                                    • Head of Accounting and Payment System Department of Bank Indonesia (2012-2013)
          Boedi Armanto                             • Head of Bank Supervision Department 1 Bank Indonesia (2008-2012)
          Member of Integrated                      • Head of Banking Licensing and Information Department of Bank Indonesia (2008-2008)
          Governance Committee                      • Deputy Director of Internal Supervision Department of Bank Indonesia (2005-2008)
          Age: 64 Years old                         • Senior Executive Analyst of Strategic Planning and Public Relations Department of Bank Indonesia
          Citizenship: Indonesian                       (2005-2005)
                                                    • Project Leader of Special Unit of Bank Indonesia Transformation Program (2003-2005)
                                                    • Deputy Director of Bank Supervision Department 1 Bank Indonesia (2002-2003)
                                                    • Head of Bank Supervision Department 1 Bank Indonesia (1999-2002)
                                                    • Head of Human Resources Department of the Indonesian Bank Restructuring Agency (1998-1999)




                                                    Period of Assignment
                                                    2023 - 2026

                                                    Educational Background
                                                    • Bachelor of Agriculture From Padjadjaran University (1991)
                                                    • Master of Financial Management from Pelita Harapan University (2005)

                                                    Legal Basis of Appointment
                                                    Appointed as member of the Integrated Governance Committee as of 25 May 2023.

                                                    Professional Background
                                                    • Independent Commissioner PT Samudra Indonesia Tbk. (2023-present)
                                                    • President Commissioner Penjamin Efek Indonesia (KPEI) (2023-present)
                                                    • President Commissioner and Independent Commissioner PT Mandiri Sekuritas
                                                        (2023-present)
                                                    • Independent Commissioner PT Sawit Sumbermas Sarana Tbk. (2022-present)
                                                    • Chief Executive of Capital Market, Commissioner Otoritas Jasa Keuangan (2017-2022)
                                                    • Commissioner PT Danareksa Capital (2015-2017)
          Hoesen                                    • Commissioner PT Danareksa Investment Management (2015-2017)
          Member of Integrated                      • Director PT Danareksa (2015-2017)
          Governance Committee                      • Director of listing PT Bursa Efek Indonesia (2012-2015)
          Age: 57 Years old                         *) Started his tenure since June 2023
          Citizenship: Indonesian




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                                                                       INTEGRATED GOVERNANCE COMMITTEE




                                            Period of Assignment
                                            24 June 2021 – Present

                                            Educational Background
                                            • Bachelor Degree in Economics, University of Diponegoro, Semarang (1987)
                                            • MBA from University of Illinois at Urbana-Champaign, USA (1997)



                                            Legal Basis of Appointment
                                            Appointed as member of the Integrated Governance Committee as of 24 June 2021 No.
                                            002/AMFS-BOC/VI/2021.

                                            Professional Background
                                            • Associate Consultant (Advisor) at PT Sumberdaya Andalan Mandiri (2019-2020)
                                            • Senior Vice President Policy & Procedure Group at PT Bank Mandiri (Persero) Tbk (2017-
                                                2019)
                                            • Supervisory Board Chairman of Pension Fund at Bank Mandiri Empat (DPBM Empat)
                                                (2015-2018)
                                            • Senior Vice President Credit Operations Group at PT Bank Mandiri (Persero) Tbk (2016-
    Agus Retmono                                2017)
    Member of Integrated Governance         • Senior Vice President Cash & Trade Operations Group at PT Bank Mandiri (Persero) Tbk
    Committee                                   (2015-2016)
    Age: 61 Years old                       • Head I of SWIFT Indonesia Association (ASWIFTINDO) (2014-2016)
    Citizenship: Indonesian




                                            Period of Assignment
                                            28 June 2023 – Present

                                            Educational Background
                                            • Bachelor Degree in Electrical Engineering, Indonesian Christian University, Jakarta
                                               (2001).
                                            • Master of Electrical Engineering, Indonesian Christian University, Jakarta (2020).

                                            Legal Basis of Appointment
                                            Appointed based on the results of the general meeting of shareholders on 28th June 2023,
                                            he was appointed as an independent commissioner who also represents the Company as
                                            a member of the Integrated Governance Committee.

                                            Professional Background
                                            • Investigator of National Human Rights Commission (2001-2003)
                                            • Program Officer at Voice of Human Rights (2004-2005).
                                            • Project Engineer of Nokia Siemens Network Indonesia (2006- 2012).
                                            • Country Manager of PT. Eflag Solutions Indonesia (2012-2014)
    Fendy Eventius Mugni*                   • Independent Commissioner of PT Hotel Indonesia Natour (Persero).
    Member of Integrated Governance         • vIndependent Commissioner of PT. Mandiri Tunas Finance (2023- Present).
    Committee
    Age: 51 Years old                       *) Started his tenure since June 2023

    Citizenship: Indonesian




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      INTEGRATED GOVERNANCE COMMITTEE


                                                         Period of Assignment
                                                         13 November 2023 – Present

                                                         Educational Background
                                                         • Bachelor of accounting, Riau University (1989)
                                                         • Master of Management Gadjah Mada University (2009)

                                                         Legal Basis of Appointment
                                                         Appointed as a member of the Integrated Governance Committee in accordance with
                                                         Number of Letter Skel.0209/BOD/CORSEC/MUF/XI/2023 01 November 2023 regarding
                                                         Notification of the MUF Independent Commissioner as Member of the Integrated
                                                         Governance Committee

                                                         Professional Background
                                                         • Independent Commissioner PT Mandiri Utama Finance (November 2023 – present).
                                                         • Wholesale & Transaction Banking Director PT Bank Syariah Indonesia Tbk (February
                                                             2021 – May 2022).
                                                         • Wholesale Banking Director PT Bank Syariah Mandiri (April 2015
                                                         • – January 2021).
                                                         • Senior Executive Vice President (SEVP) Wholesale Banking PT Bank Syariah Mandiri
                                                             (January 2015 – March 2015).
                                                         • Senior Executive Vice President (SEVP) Wholesale, Treasury & International Banking PT
                                                             Bank Syariah Mandiri (May 2014 – January 2015).
          Kusman Yandi                                   • Executive Business Officer (EBO) Commercial Banking and Business Banking PT Bank
          Member of Integrated Governance                    Mandiri (Persero) Tbk (September 2014 – May 2014).
          Committee                                      • Commercial Banking Center Manager (CBC Manager / Vice President) PT Bank
          Age: 58 Years old                                  Mandiri (Persero) Tbk (May 2007 – August 2013).
          Citizenship: Indonesian
                                                         *) Started his tenure since June 2023




                                                         Period of Assignment
                                                         4 September 2020 – Present

                                                         Educational Background
                                                         Bachelor Degree in Computer Science and Mathematics, University of Bina Nusantara
                                                         (2013)

                                                         Legal Basis of Appointment
                                                         Appointed as member of the Integrated Governance Committee pursuant to Deed of
                                                         Resolution Statement of Shareholders No. 2 dated 4 September 2020.

                                                         Professional Background
                                                         • Independent Commissioner PT Blue Bird Tbk (2022-present)
                                                         • Product Design and Engineering Lead Berrybenka (2010-2021)
                                                         • Member of the Human Resources and Digital Economy Study Team of the Presidential
                                                             Advisory Council (2019)
                                                         • Independent Commissioner PT Mandiri Capital Indonesia (2019-present)
                                                         • Senior Software Engineering PT Multi Adiprakasa Manunggal (Kartuku) (2012-2013)
                                                         • Supervisor Software Engineering PT Multi Adiprakasa Manunggal (Kartuku) (2013-2014_
                                                         • Assistant Engineering PT Multi Adiprakasa Manunggal (Kartuku) (2014-2015)
                                                         • Head Product Development (Scrum of Scrums) PT Multi Adiprakasa Manunggal
                                                             (Kartuku) (2015)
                                                         • Vice President Product PT Aplikasi Karya Anak Bangsa (Gojek) (2015-2016)
          Alamanda Santika                               • Vice President of Talent Management-People and Culture PT Aplikasi Karya Anak
          Member of Integrated Governance                    Bangsa (Gojek) (2016)
          Committee                                      • Member of Technology Committee PT Medikaloka Hermina Tbk (November
          Age: 35 Years old                                  2017-present)
          Citizenship: Indonesian                        • President Director of Binar Academy (2017-present




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GOVERNANCE
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                                                                     INTEGRATED GOVERNANCE COMMITTEE


                                            Period of Assignment
                                            27 Januari 2023 – Presentg

                                            Educational Background
                                            • Bachelor Degree Faculty of Economics, University of Indonesia – Art in Accounting
                                            • Master Degree School of Public Health, University of California at Los Angeles, USA –
                                               Health Administration
                                            • Doctorate Degree School of Public Health, University of California at Los Angeles, USA
                                               – Philosophy in Health Administration

                                            Legal Basis of Appointment
                                            Appointed as member of the Integrated Governance Committee as of 16 November
                                            2023 pursuant to the Board of Commissioners Decree of PT Asuransi Jiwa Inhealth No. SK-
                                            01/DK-AJII/1123 on the Amendment of Membership Structure of Committee under the
                                            Board of Commissioners of PT Asuransi Jiwa Inhealth Indonesia.

                                            Professional Background
                                            • Independent Commissioner of PT Asuransi Jiwa Inhealth Indonesia (2021-present)
                                            • Member of the Supervisory Board of the University of Indonesia Teaching Hospital
                                                (2018 - present)
                                            • Country Director dan Chairperson Thinkwell (2020 – present)
                                            • Chair of the Health Working Group, National Team for the Acceleration of Poverty
                                                Reduction TNP2K (2016 - 2019)
    Prastoeti Soewondo*                     • Member of the Supervisory Board of Badan Pelaksanaan Jaminan Sosial Kesehatan
    Member of Integrated Governance             (2014 - 2016)
    Committee                               • Member of the Audit Committee of PT asuransi Kesehatan (2008 - 2010)
    Age: 68 Years old                       • Deputy Dean of the Indonesian Faculty of Public Health (2004 - 2008)
    Citizenship: Indonesian
                                            *) Started his tenure since June 2023




                                            Period of Assignment
                                            05 December 2023 – Present

                                            Educational Background
                                            • Bachelor Degree in Accounting, University Diponegoro Semarang
                                            • Master Degree in Accounting, University Gadjah Mada Yogyakarta
                                            • Doctorate in Accounting, University of Science Malaysia

                                            Legal Basis of Appointment
                                            Appointed as member of the Integrated Governance Committee as of 19 March 2021
                                            pursuant to the Board of Directors Decree No. 03/519-KEP/DIR.

                                            Professional Background
                                            • Independent Commissioner of PT Bank Sharia Indonesia Tbk (2022-present)
                                            • Special Advisor to the Vice President of the Republic of Indonesia, Bureaucratic
                                                Reform (2019-present)
                                            • Independent Commissioner of PT Bank Mandiri (Persero) Tbk (2019-2022)
                                            • Minister of Research, Technology and Higher Education Working Cabinet Republic of
                                                Indonesia (2014-2019)
                                            • Chancellor of Diponegoro University (2014)

                                            *) Started his tenure since December 2023


    Mohamad Nasir
    Member of Integrated Governance
    Committee
    Age: 63 Years old
    Citizenship: Indonesian




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            HIGHLIGHTS                      REPORT                                PROFILE                              AND ANALYSIS




      INTEGRATED GOVERNANCE COMMITTEE


                                                         Period of Assignment
                                                         19 March 2021– Present

                                                         Educational Background
                                                         • Bachelor Degree in Sharia, IAIN/UIN Syarif Hidayatullah Jakarta
                                                         • Master Degree in Law Science, Institute of Business Law and Legal Management
                                                         • Master of Business Administration IPWI Jakarta
                                                         • Doctorate in Islamic Economics and Finance, University of Trisakti

                                                         Legal Basis of Appointment
                                                         Appointed as member of the Integrated Governance Committee as of 19 March 2021
                                                         pursuant to the Decree of the Board of Directors No. 01/053-KEP/DIR.

                                                         Professional Background
                                                         • Advisory Council of the Islamic Economists’ Association (2019-present)
                                                         • Board of Expert of Shariah Economic Society (2018-present)
                                                         • Board of Trustees of the Indonesian Sharia Insurance Association (2017-present)
                                                         • Lecturer of S2 PSTTI University of Indonesia (2016-2017)
                                                         • Postgraduate Lecturer at Indonesia Banking School (2015-2017)
                                                         • Lecturer of S2 Islamic Economics & Finance, Trisakti University (2015-2016)
                                                         • DPS UUS Allianz Syariah (2010-present)
                                                         • DPS UUS Manulife Syariah (2010-present)
                                                         • Chairman of DPS UUS BRI Life Syariah (2005-present)
          Mohammad Hidayat                               • DPS UUS BTN Syariah (2005-present)
          Member of Integrated Governance                • Chairman of DPS Bank Syariah Indonesia (1 February -1 June 2021)
          Committee                                      • DPS PT Bank Syariah Mandiri (BSM) in 1999-2010)
          Age: 56 Years old
          Citizenship: Indonesian




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 CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL              FINANCIAL
GOVERNANCE
 GOVERNANCE                & PRACTICES                           RESPONSIBILITY                        STATEMENTS 2023




                                                                     INTEGRATED GOVERNANCE COMMITTEE



 Integrated Governance Committee Charter                                       laws and regulations in the Capital Market and
 In carrying out its duties and responsibilities, the Bank’s                   the OJK, Bank Indonesia, and other regulations
 Integrated Governance Committee has the Charter of                            relating to banking, insurance, securities and
 the Integrated Governance Committee, which was last                           financing businesses through coordination with
 updated on 13 September 2023 based on the Decree of                           the Integrated Compliance Unit.
 the Board of Commissioners No. KEP.KOM/006/2023. The                       • Monitoring the implementation of compliance
 Charter regulates the following:                                              periodic reports and audit reports relating
 1. General Purpose                                                            to compliance with internal and external
 2. Basic Regulations                                                          regulations issued by the Integrated
 3. Duties, Responsibilities and Authority                                     Compliance Unit and external auditors.
 4. Composition, Structure, Membership Requirements                         • Holding periodic meetings with the Integrated
     and Tenure                                                                Compliance Unit to discuss matters relating to
 5. Meetings                                                                   the Company and its Subsidiaries compliance
 6. Reports                                                                    with internal and external regulations.
 7. Closing                                                                 • Monitoring and             evaluating       the
                                                                               implementation of follow-up by the Board of
 Duties and Responsibilities of Integrated                                     Directors of the Company and Subsidiaries on
 Governance Committee                                                          the findings of the Integrated Compliance
 The following are duties and responsibilities of the                          Unit, Public Accountant Firm, and the oversight
 Integrated Governance Committee:                                              results of the OJK regarding the weaknesses
 1. Evaluating the implementation of Integrated                                in the system and implementation of the
     Governance at least through an assessment of the                          integrated compliance function.
     adequacy of internal control and the implementation                    • In conducting the assessment, the Integrated
     of an integrated compliance function.                                     Governance Committee obtained
     a. Assessment of the Adequacy of Integrated Internal                      information on evaluation of the internal audit
         Control                                                               implementation and the compliance function
         • Evaluating the Company and its Subsidiaries                         of each LJK from members of the Board of
             adherence to implement a standard integrated                      Commissioners of each LJK who are members
             internal control system in accordance with the                    of the Integrated Governance Committee.
             best practices by reviewing the enforcement             2. Providing recommendations to the Bank’s Board of
             of Integrated Governance Guidelines in the                 Commissioners to refine the Integrated Governance
             Company.                                                   Guidelines according to the needs of at least every
         • Monitoring and evaluating the effectiveness                  2 (two) years.
             of the implementation of integrated internal
             control by reviewing the Periodic Report and            Integrated Governance Committee Authority
             Audit Report issued by the Integrated Internal          The Integrated Governance Committee has the authority
             Audit Unit.                                             to implement the following matters:
         • Holding periodic meetings with the Integrated             1. Providing opinions to the Bank’s Board of
             Internal Audit Unit to discuss matters related to           Commissioners regarding the implementation of
             the integrated internal control system.                     Integrated Governance through the assessment of the
         • Holding periodic meetings with the Integrated                 adequacy of internal control and the implementation
             Risk Management Unit to discuss matters                     of the integrated compliance function.
             related to integrated risk management.                  2. Communicate with work units for functions including
         • Monitoring and evaluating the implementation                  internal audit, legal and compliance, finance and
             of follow-up by the Board of Directors of the               risk management, human resources, and aspects
             Company and Subsidiaries on the findings                    of business operational functions that are needed,
             of the Integrated Internal Audit Unit, Public               to obtain information, clarification and request the
             Accountant Firm, and the oversight results                  necessary reports in an integrated manner.
             of the OJK regarding the weaknesses in the              3. Access documents, data, records, or information
             system and implementation of integrated                     about employees, funds, assets and other company
             internal control.                                           resources related to the performance of their duties.
     b. Implementation of Integrated Compliance                      4. Exercise other powers granted by the Board of
         Function                                                        Commissioners.
         • Monitoring and evaluating the Company and
             its Subsidiaries compliance with the prevailing



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            HIGHLIGHTS                      REPORT                                 PROFILE                               AND ANALYSIS




      INTEGRATED GOVERNANCE COMMITTEE



      Reporting of Integrated Governance Committee
      The Integrated Governance Committee shall prepare periodic reports to the Bank’s Board of Commissioners regarding
      the activities of the Integrated Governance Committee, at least once in 6 (six) months. The Integrated Governance
      Committee shall prepare a report to the Bank’s Board of Commissioners on each assignment given and/or for any issues
      identified that require the attention of the Bank’s Board of Commissioners.

      Qualifications and Professional Background of Integrated Governance Committee
      The following are requirements for the Integrated Governance Committee Members:
      1. General Requirements
         a. Having integrity, character and good morals.
         b. Does not have personal interests/relationships that can cause conflict of interest against the Company.
      2. Competency Requirements
         a. aving sufficient expertise, ability, knowledge and experience related to their duties and responsibilities.
         b. Having sufficient knowledge of good corporate governance.
         c. Having sufficient knowledge of capital market regulations and regulations related to banking, insurance, securities
              and financing business.

                                 Integrated Governance Committee Qualifications and Professional Background
                Name                 Position                  Educational Background                           Professional Background
      M. Chatib Basri             Chairman and   •   Bachelor Degree in Economics                      Professional background in finance and
                                  Member         •   Master of Business Administration in Economic     corporate oversight.
                                                     Development.
                                                 •   Ph. D in Economics
      Andrinof A. Chaniago        Member         •   Bachelor Degree in Social and Political Science   Professional background in banking and
                                                 •   Master Degree in Public Planning and Policy       corporate oversight.
      Loeke Larasati Agoestina    Member         •   Bachelor Degree in Law                            Professional background in law and banking.
                                                 •   Master Degree in Management
      Zainudin Amali              Anggota        •   Bachelor in Economy (Accounting)                  Professional background in banking and
                                                 •   Magister in Public Policy                         corporate oversight.
                                                 •   Doctor in Government Sciences
                                                 •   Honorary Professor in Sports Policy
      Faried Utomo                Member         •   Bachelor Degree in Law                            Professional background in government field.
                                                 •   Master Degree in Law
      M. Yusuf Ateh               Member         •   Diploma 4 in Accounting                           Professional background in accounting, and
                                                 •   Diploma 3 in Accounting                           audit
                                                 •   Master of Business Administration (MBA)
                                                 •   Doctorate in State Administrative
      Chrisna Pranoto             Member         •   Master Degree in Agronomics                       Professional background in banking, risk
                                                 •   Master of International Business Management       management, and compliance.
      Rasyid Darajat              Member         •   Bachelor Degree in Accounting                     Professional background in banking, audit,
                                                 •   Master of Management in Business Management       and risk management.
      Boedi Armanto               Member         •   Bachelor of Agronomy                              Professional background in banking
                                                 •   Master of Applied Economics
                                                 •   Doctor of Economics
      Hoesen                      Member         •   Bachelor of Agriculture                           Professional background in banking and
                                                 •   Master of Financial Management                    finance.
      Agus Retmono                Member         •   Bachelor Degree in Economics                      Professional background in banking.
                                                 •   Master of Business Administration
      Fendy Eventius Mugni        Member         •   Bachelor Degree in Electrical Engineering         Professional background in Human Rights,
                                                 •   Master of Electrical Engineering                  Supervision, Advisory, Audit, and Electrical
                                                                                                       Engineering.




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CORPORATE
 CORPORATE                ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                    FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                          RESPONSIBILITY                              STATEMENTS 2023




                                                                      INTEGRATED GOVERNANCE COMMITTEE


                         Integrated Governance Committee Qualifications and Professional Background
           Name               Position                Educational Background                       Professional Background
  Kusman Yandi            Member         •   Master of Resources Economics Program        Professional background in Conventional
                                                                                          and Sharia banking, especially in Strategic
                                                                                          Management, Financial Analysis, Risk
                                                                                          Management, Business Development
                                                                                          Strategies, and Islamic Finance.

  Alamanda Shantika       Member         •   Bachelor Degree in Computer Science and      Professional background in banking,
                                             Mathematics                                  information technology.
  Prastoeti Soewondo      Member         •   Bachelor Degree Art in Accounting            Professional background in healthcare.
                                         •   Master Degree in Health Administration
                                         •   Philosophy in Health Administration
  Mohamad Nasir           Member         •   Bachelor in Accounting                       Professional background in Supervision,
                                         •   Master in Accounting                         Advisory, Bureaucracy, Education, and
                                         •   Doctor in Accounting                         Accounting.
  Mohamad Hidayat         Member         •   Bachelor Degree in Sharia                    Professional background in sharia banking
                                         •   Master of Business Administration            dan Legal.
                                         •   Master Degree in Law
                                         •   Doctorate Degree in Islamic Economic and
                                             Finance



 Independence of Integrated Governance Committee
 Members of the Integrated Governance Committee have no shareholding in Bank Mandiri and its Subsidiaries,
 either directly or indirectly, have no affiliation relationship with Bank Mandiri, its Subsidiaries, Members of the Board of
 Commissioners and/or Subsidiaries, Members of the Board of Directors and/or Subsidiaries and ultimate shareholders
 of Bank Mandiri and/or Subsidiaries and have no business relationship either directly or indirectly with Bank Mandiri and
 its Subsidiaries.




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               HIGHLIGHTS                     REPORT                            PROFILE                            AND ANALYSIS




      INTEGRATED GOVERNANCE COMMITTEE



      Integrated Governance Committee Independence

       Independence              M.            Andrinof    Loeke Larasati    M. Yusuf                       Zainudin
                                                                                          Faried Utomo                   Chrisna Pranoto
           Aspect             Chatib Basri   A. Chaniago     Agoestina        Ateh                           Amali

      Does not have
      financial relations
      with the Board of            √              √              √              √              √               √                √
      Commissioners and
      Directors

      Does not have
      management
      relations in
                                   √              √              √              √              √               √                √
      the company,
      subsidiaries, or
      affiliates

      Does not have
      shareholding
                                   √              √              √              √              √               √                √
      relations in the
      company

      Does not have
      family relations
      with the Board of
      Commissioners,
                                   √              √              √              √              √               √                √
      Directors and/
      or with fellow
      members of
      Committee

      Does not serve as
      the management
      in political parties,        √              √              √              √              √               √                √
      officials and in the
      government




      Integrated Governance Committee Meeting                               6. Each meeting of the Integrated Governance
      The provisions of the Integrated Governance Committee                    Committee is set forth in the meeting minutes, including
      meeting are regulated in the Integrated Governance                       the dissenting opinions with its reasons, signed by
      Committee Charter as follows:                                            the Committee Chairman and Secretary and to be
      1. The Integrated Governance Committee holds a                           properly documented.
         meeting at least 1 (one) time in 6 (six) months.                   7. Meetings of the Integrated Governance Committee
      2. The Integrated Corporate Governance Committee                         shall be stated in the meeting minutes signed by the
         meetings are considered valid if attended by at                       Committee Chairman and Secretary.
         least 51% of members including an Independent                      8. The Integrated Governance Committee meetings
         Commissioner of the Company and an Independent                        can be held through direct meeting and/or electronic
         Party on Non-Commissioners.                                           media.
      3. The decision of the Integrated Governance Committee
         meeting is made based on deliberation to reach a                   Meeting Agenda of the Integrated
         consensus.                                                         Governance Committee
      4. In the case that consensus agreement does not occur,               In 2023, the Integrated Governance Committee held 6
         the decision is made based on majority votes.                      (six) meetings, with the following agenda.
      5. The meeting shall be chaired by the Chairman
         of the Integrated Governance Committee or
         other Committee Members who are Independent
         Commissioners if the Chairman of the Integrated
         Governance Committee is unable to attend.




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 CORPORATE                    ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                    FINANCIAL
GOVERNANCE
 GOVERNANCE                   & PRACTICES                              RESPONSIBILITY                              STATEMENTS 2023




                                                                           INTEGRATED GOVERNANCE COMMITTEE




                                                             Fendy
      Rasyid         Boedi                     Agus                         Kusman       Prastoeti   Alamanda          Mohamad       Mohamad
                               Hoesen                       Eventius
      Darajat       Armanto                  Retmono                         Yandi      Soewondo      Shantika           Nasir        Hidayat
                                                             Mugni


         √               √        √              √             √              √             √             √               √             √




         √               √        √              √             √              √             √             √               √             √




         √               √        √              √             √              √             √             √               √             √




         √               √        √              √             √              √             √             √               √             √




         √               √        √              √             √              √             √             √               √             √




                                        Integrated Governance Committee Meeting Agenda
  No.              Tanggal                                               Agenda Rapat                                            Kuorum
  1      16 Maret 2023           1.   Follow-up Input of the Committee Meeting on 14 December 2022                            100%
                                 2.   Implementation of Integrated Unit (Realization of 2022 Work Plan, 2023 Work Plan)
                                 3.   Results of Consolidated Bank Soundness Rating Assessment in the Second Semester/2022
                                 4.   Financial Conglomeration/Mandiri Group Strategy in 2023
  2      25 Mei 2023             1. Follow-up Input of Committee Meeting on 16 March 2023                                     100%
                                 2. Development of AML-CFT Strengthening Program Implementation in Mandiri Group
                                 3. Implementation of Mandiri Group Stress Test
  3      13 Juli 2023            1. Follow-up Input of Committee Meeting on 25 May 2023                                       88,89%
                                 2. Implementation of Environmental, Social & Governance (ESG) in Subsidiaries
  4      27 September 2023       1. Follow-up Input of Committee Meeting on 13 July 2023                                      100%
                                 2. Realization of the Work Plan of the Integrated Unit for Semester I/2023
                                 3. Results of the Consolidated Bank Soundness Rating Assessment for Semester I/2023
  5      2 November 2023         1. Follow-up Input of Committee Meeting on 27 September 2023                                 100%
                                 2. Development of Digitalization of Subsidiaries
  6      7 Desember 2023         1. Follow-up Committee Meeting Input on 02 November 2023                                     100%
                                 2. Mandiri Group’s Cyber Resilience




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              HIGHLIGHTS                          REPORT                        PROFILE                                   AND ANALYSIS




      INTEGRATED GOVERNANCE COMMITTEE


                                         Integrated Governance Committee Meeting Frequency and Attendance
                          Name                                    Position        Total Meetings           Total Attendance         Percentage
      M. Chatib Basri                            Chairman and Member                      6                         6                 100%
      Andrinof A. Chaniago                       Member                                   6                         6                 100%
      Loeke Larasari Agoestina                   Member                                   6                         6                 100%
      Zainuddin Amali*                           Member                                   6                         6                 100%
      Faried Utomo                               Member                                   6                         6                 100%
      M. Yusuf Ateh                              Member                                   6                         6                 100%
      Chrisna Pranoto                            Member                                   6                         6                 100%
      Rasyid Darajat                             Member                                   6                         6                 100%
      Hoesen**                                   Non-Voting Member                        4                         4                 100%
      Agus Retmono                               Non-Voting Member                        6                         6                 100%
      Ravik Karsidi***                           Non-Voting Member                        2                         2                 100%
      Fendy Eventius Mugni**                     Non-Voting Member                        4                         3                  75%
      Mansyur Syamsuri Nasution***               Non-Voting Member                        2                         2                 100%
      Alamanda Shantika                          Non-Voting Member                        6                         5                  83%
      Prastoeti Soewondo                         Non-Voting Member                        6                         6                 100%
      M. Arief Rosyied Hasan***                  Non-Voting Member                        6                         5                  83%
      Mohamad Nasir**                            Non-Voting Member                        1                         1                 100%
      Mohamad Hidayat                            Non-Voting Member                        6                         6                 100%
       *Appointed in March 2023 & Effective as of November 2023
       ** Appointed from May 2023, June 2023 and December 2023
       ***Ceased to serve from June 2023 and November 2023




      Key Performance Indicators Achievement of Integrated Governance Committee
      The KPIs of the Integrated Governance Committee during 2023 is evident from the realization of the work plan, the
      quality of recommendations that have been prepared, and the quality of communication that has been carried out
      both with the Board of Commissioners, Board of Directors, and Leaders of related Work Units.

      In general, all work programs of the Committee as stated in the 2023 Work Plan of the Integrated Governance Committee
      have been properly realized. Moreover, all recommendations of the Integrated Governance Committee have been
      accepted by the Board of Commissioners and taken into consideration in the decision-making process on proposals
      submitted by the Board of Directors. On communication aspect, good and intensive communication has been established
      during 2023 to discuss issues at Bank Mandiri and the progress of follow-up resolutions made.

      Remuneration of Integrated Governance Committee
      The remuneration of the Integrated Governance Committee of the Non-Commissioner Independent party is regulated
      in the Decree of the Board of Commissioners No. KEP.KOM/003/2023 dated 13 September 2023 on the Remuneration
      of Supporting Organs of the Board of Commissioners of PT Bank Mandiri (Persero) Tbk and regulated in the Letter of
      Assignment of a member of the Committee under the Board of Commissioners issued by Bank Mandiri.

        No.                                     Uraian                                         Anggota Komite Non-Komisaris
         1.    Salary/Honorarium                                             At most 20% of President Director’s Salary
         2.    Post-Employment Compensation                                  Not provided
         3.    Holiday Allowance                                             In accordance with Bank Mandiri employee stipulation
         4.    Bonus/Tantiem                                                 Not provided
         5.    Facilities
               - Transportation Allowance                                    Not provided
               - Health                                                      Provided as per the Bank’s Internal rules
               - Employment                                                  Provided as per the Bank’s Internal rules
               - Business Trips                                              In accordance with Bank Mandiri employee stipulation/equivalent to
                                                                             Group Head




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GOVERNANCE
 GOVERNANCE              & PRACTICES                     RESPONSIBILITY                         STATEMENTS 2023




                                                              INTEGRATED GOVERNANCE COMMITTEE


 Activities Report of the Integrated Governance Committee in 2023
 The Integrated Governance Committee has undertaken its duties and functions as stipulated in the Committee Charter
 by continuously implementing independence principles according to prevailing regulations and in line with the 2023
 work plans of the Committee that have been approved by the Board of Commissioners.

 The following are the activities of the Committee in 2023:
 1. Held 6 (six) meetings, including to develop Meeting Minutes.
 2. Held 9 (nine) internal discussions and discussions with related Units.
 3. Evaluated the adequacy of the implementation of integrated internal control, integrated compliance, and integrated
    risk management, as well as providing recommendations of future improvements.

 2024 Work Plans of the Integrated Governance Committee
 At the end of 2023, the Integrated Governance Committee has prepared the 2024 work plans and has obtained the
 approval of the Board of Commissioners. The Committee 2024 work plans are divided into 2 (two) activities, which are
 Mandatory/Regular and Non-Regular, as follows:
 1. Regular, which includes the review of Duties Implementation Reports of Integrated Governance Committee Unit,
     Integrated Risk Management Unit, and Integrated Internal Audit Unit.
 2. Non-Regular, which includes matters of concern and focus of the Integrated Governance Committee as well as
     the Board of Commissioners related to Mandiri Group.

 Replacement Procedures of Committees Under the Board of Commissioners

 The following chart illustrates the procedures for replacing Committee members under the Board of Commissioners
 from Independent Parties.




                                                                                  Board of
                                                                                Commissioners
                    Open Recruitmant              Interview with               meeting to discuss
                     at Bank Mandiri          Board of Commissioner           Committee Member
                         Website                                                 candidates

                             1                            2                            3




                                                    Determination of
                     Determination
                                                   Committee members
                     by the Board of                 by the Board of            Negotiation
                        Directors                    Commissioners



                             6                            5                           4




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            HIGHLIGHTS                   REPORT                            PROFILE                                    AND ANALYSIS




      DIVERSITY OF THE BOARD
      OF COMMISSIONERS AND DIRECTORS




            The diversity policy of the Company’s Board of Commissioners
            and Board of Directors is based on different age, educational
            background and experience required in performing their duties
            and responsibilities.




      Policies on Diversity of the Board of Commissioners
      The Bank Mandiri’s Articles of Association regulated the diversity of the Board of Commissioners in accordance with
      the Attachment to SEOJK No. 32/SEOJK.04/2015 on Public Companies’ Governance Guideline and SEOJK No. 13/
      SEOJK.03/2017 concerning Implementation of Governance for Commercial Banks.

      The appointment of the Board of Commissioners is carried out by taking into account the age, gender, education,
      experience, integrity, dedication, comprehension of the company’s management issues, having knowledge and/or
      expertise in the required areas of Bank Mandiri and being able to provide sufficient time to carry out duties and other
      requirements based on the laws and regulations. Currently the Board of Commissioners had met the criteria of age,
      gender, education, experience, integrity, dedication, comprehension of company management issues, as well as
      having knowledge and/or expertise in the areas required by Bank Mandiri.

      In 2023, the diversity of the composition of the Board of Commissioners reflected in education, work experience, age
      and gender, as seen in the table below:

                                           Diversity of the Board of Commissioners Composition
                                                                                    Education                Professional
            Name              Position          Age              Gender                                                              Skills
                                                                                   Background                Background
      Muhamad Chatib     President           56 Years old         Male        •   Ph.D. in Economics .   Professional           Macroeconomic,
      Basri              Commissioner/                                        •   Master of Business     background             Finance
                         Independent                                              Administration         in finance and
                                                                                  in Economic            corporate oversight.
                                                                                  Development.
                                                                              •   Bachelor of
                                                                                  Economics.




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CORPORATE
 CORPORATE                    ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                           FINANCIAL
GOVERNANCE
 GOVERNANCE                   & PRACTICES                    RESPONSIBILITY                                     STATEMENTS 2023




                                                                                              DIVERSITY OF THE BOARD




                                       Diversity of the Board of Commissioners Composition
                                                                                Education               Professional
         Name              Position          Age             Gender                                                                Skills
                                                                               Background               Background
  Andrinof A.        Vice President       59 Years old        Male        •   Bachelor of Social    Professional           Macroeconomic
  Chaniago           Commissioner/                                            and Political         background in
                     Independent                                              Science               banking and
                                                                          •   Master of Public      corporate oversight.
                                                                              Planning and Policy

  Loeke Larasati     Independent          62 Years old       Female       •   Bachelor of Law       Professional           Legal
  Agoestina          Commissioner                                         •   Master of             background in legal
                                                                              Management            affairs and banking.

  Muliadi Rahardja   Independent          63 Years old        Male        •   Bachelor of           Professional           Banking,
                     Commissioner                                             Accounting            background in          Accounting
                                                                          •   Master of Business    banking and
                                                                              Administration in     corporate oversight
                                                                              Finance

  Heru Kristiyana    Independent          67 Years old        Male        •   Bachelor of Law       Work experiences       Banking, Finance,
                     Commissioner                                         •   Magister in           including in Banking   Legal
                                                                              Management            Supervision

  Zainudin Amali     Independent          61 Years old        Male        •   Bachelor in           Work experiences       Finance, Public
                     Commissioner                                             Economics             including in           Policy.
                                                                              (Accounting)          Company
                                                                          •   Magister in Public    Supervision
                                                                              Policy
                                                                          •   Doctorate in
                                                                              Government
                                                                              Science
                                                                          •   Honorary Professor
                                                                              in Sports Policy


  Rionald Silaban    Commissioner         55 Years old        Male        •   Bachelor of Law       Professional           Human Capital,
                                                                          •   Master of Law         background in          Finance, Legal
                                                                              Center                finance and human
                                                                                                    capital.

  Arif Budimanta     Commissioner         53 Years old        Male        •   Bachelor of           Professional           Finance
                                                                              Geology               background in
                                                                          •   Master of Science     banking.
                                                                              in Natural
                                                                              Resources
                                                                              Economics
                                                                          •   Doctor of Social
                                                                              and Political
                                                                              Science

  Nawal Nely         Commissioner         48 Years old       Female       •   Bachelor degree in    Professional           Accounting,
                                                                              Accounting            background             Banking
                                                                          •   Executive Master      in finance and
                                                                              of Business           auditing.
                                                                              Administration

  Faried Utomo       Commissioner         57 Years old        Male        •   Bachelor of Law       Professional           Legal
                                                                          •   Master of Law         background in
                                                                                                    government.

  Muhammad Yusuf     Commissioner         57 Years old        Male        •   Diploma 3 in          Professional           Accounting,
  Ateh                                                                        Accounting            background in          Audit
                                                                          •   Diploma 4 in          legal affairs and
                                                                              Accounting            supervision.
                                                                          •   Master of Business
                                                                              Administration
                                                                              (MBA)
                                                                          •   Doctor of State
                                                                              Administrative




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             HIGHLIGHTS                         REPORT                                     PROFILE                               AND ANALYSIS




      DIVERSITY OF THE BOARD



      Board of Directors Diversity Policy
      The Financial Services Authority recommendation as stated in the Attachment of SEOJK No. 32/SEOJK.04/2015 concerning
      Public Companies’ Governance Guidelines and SEOJK No. 13/SEOJK.03/2017 concerning Implementation of Governance
      for Commercial Banks stated that the composition of the Board of Directors shall take into account the diversity of its
      members. The diversity of the Board of Directors’ members is combination of desired characteristics from the Board
      of Directors organs as well as members as individuals, in accordance with the requirements of Public Companies. The
      combination of diversity is established by taking into account the expertise, knowledge and experience according to the
      segregation of duties and functions of the Board of Directors position in pursuing the objectives of the Public Companies.

      The characteristic combination considerations shall take effect in the accuracy of nominating and appointment
      process of an individual member or collectively. The diversity of the Board of Directors’ members as specified in the
      Attachment of SEOJK No. 32/SEOJK.04/2015 concerning Public Companies’ Governance Guidelines and SEOJK No.
      13/SEOJK.03/2017 concerning Implementation of Governance for Commercial Banks has been accommodated in the
      Company’s Article of Association. The appointment of the Board of Directors is carried out by considering the integrity,
      dedication, understanding on the Company management issue related to one of the management functions, having
      knowledge and/or skill in the areas required by the Company and being able to provide sufficient time to carry out
      duties as well as other requirements in accordance the prevailing laws and regulations.

      However, the diversity policy only regulates in terms of knowledge and/or skills in accordance with the scope of the
      Board of Directors. Bank Mandiri has not established the diversity policy related to age and gender as the nomination
      is prioritizing the Company requirements.

      In 2023, the diversity of the composition of the Board of Directors reflected in education, work experience, age and
      gender, as seen in the table below:

                                                            Board of Directors Composition Diversity
         Name           Position         Age         Gender              Education               Work Experience                        Skills
      Darmawan       President       56 years old    Male       Bachelor of Law               Having work experience,     Treasury & International Banking,
      Junaidi        Director                                                                 among others, in            Risk Management, Funding &
                                                                                              banking, finance and        Lending, Finance, Special Asset
                                                                                              mining.                     Management, Credit Recovery,
                                                                                                                          Legal
      Alexandra      Vice President 50 years old     Female     •   Bachelor in Economics.    Having work experience,     Corporate Banking, Special
      Askandar       Director                                   •   Master of Business        among others, in            Assets Management, Structured
                                                                    Administration (MBA) in   banking, finance and        Finance, Government &
                                                                    Finance.                  securities.                 Institutional.
      Ahmad          Director of Risk 57 years old   Male       •   Bachelor of Chemical      Having work experience,     Credit risk management,
      Siddik         Management                                     Engineering.              among others, in            risk management strategy,
      Badruddin                                                 •   Master of Business        banking, finance and risk   risk analysis, collection
                                                                    Administration (MBA)      management.                 management and strategy,
                                                                    in Management                                         fraud risk management, business
                                                                    Information Systems.                                  and portfolio acquisition
                                                                                                                          and closing/sales, portfolio
                                                                                                                          scorecard management,
                                                                                                                          operational risk management,
                                                                                                                          self-assessment process for risk
                                                                                                                          control, management of external
                                                                                                                          collection agents, and various
                                                                                                                          training programs related to risk
                                                                                                                          management.
      Agus Dwi       Director of     52 years old    Male       •   Bachelor in Accounting.   Having work                 Human Capital, Finance,
      Handaya        Compliance                                 •   Master of Business        experience, among           Strategy and Performance
                     and HR                                         Administration (MBA) in   others, in banking,
                                                                    Strategy & Finance.       human resources and
                                                                                              economics.
      Eka Fitria*)   Director of     45 years old    Female     •   Bachelor in Law           Having work experience, Treasury, Human Capital
                     Treasury and                               •   Master of Business        among others, in
                     International                                  Administration            banking, treasury, and
                     Banking                                                                  human resources




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CORPORATE
 CORPORATE                     ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                       FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                              RESPONSIBILITY                                 STATEMENTS 2023




                                                                                                       DIVERSITY OF THE BOARD


                                                     Board of Directors Composition Diversity
     Name         Position         Age        Gender              Education              Work Experience                       Skills
  Riduan       Director of     52 years old   Male       •   Bachelor in Accounting   Having work experience, Accounting, Finance, Audit,
               Commercial                                    Economics.               among others, in        Banking and Risk Management.
               Banking                                   •   Master in Management     auditing, banking,
                                                                                      insurance and
                                                                                      economics
  Aquarius     Director of     55 years old   Male       Bachelor in Social and       Has work experience,       Corporate & Commercial Credit,
  Rudianto     Network and                               Political Sciences           among others, in           Retail Credit Risk Management,
               Retail                                                                 conventional banking,      Commercial Credit Risk
                                                                                      Sharia banking,            Management, Commercial
                                                                                      risk management,           Banking, and Commercial Sales.
                                                                                      insurance, corporate
                                                                                      supervision, and
                                                                                      economics.
  Toni E. B.   Director of     58 years old   Male       Bachelor in Agricultural     Having work                Credit Recovery, Corporate
  Subari       Operations                                Industrial Technology        experience, among          Banking, Business Banking, and
                                                                                      others, in the fields of   Special Asset Management.
                                                                                      conventional banking,
                                                                                      Islamic banking,
                                                                                      capital markets, risk
                                                                                      management, and
                                                                                      economics.
  Susana       Director of     57 years old   Female     Bachelor in Management       Having work experience,    Corporate Banking, Commercial
  Indah K.     Corporate                                 Economics                    among others, in           Banking, Credit Analyst,
  Indriarti    Banking                                                                banking, economics         Commodities Trading, and
                                                                                      and risk management.       Wholesale Risk.
  Rohan        Director of     61 years old   Male       Bachelor in Economics        Having work experience,    Brain Mapping, Risk
  Hafas        Institutional                                                          among others, in           Management, Marketing,
               Relations                                                              banking, consulting,       Corporate Relations, and
                                                                                      corporate secretary,       Corporate Secretary.
                                                                                      institutional relations,
                                                                                      and public relations.
  Sigit        Director of     51 years old   Male       •   Bachelor in Geography/   Having work experience, Treasury Dealer, Risk
  Prastowo     Finance and                                   Regional Planning        among others, in        Management, Credit Analyst,
               Strategies                                •   Master in Management     banking, finance, and   Budgeting, and Finance.
                                                                                      company supervision.
  Timothy      Director of     57 years old   Male       •   Bachelor of Business     Having work experience, Banking operations, treasury,
  Utama        Information                                   Administration in        among others, in         trade services and information
               Technology                                    accounting and finance   banking, treasury, trade technology
                                                                                      service and technology
                                                                                      and information systems




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      GOVERNANCE IN PROVIDING
      REMUNERATIONS




            Bank Mandiri has implemented a remuneration governance
            policy based on OJK Regulation No. 45/POJK.03/2015 concerning
            Implementation of Governance in the Provision of Remuneration
            for Commercial Banks. The remuneration is a reward stipulated
            and provided to the Board of Commissioners, Directors and/
            or Employees, permanent and non-permanent, in the form of
            cash and non-cash in accordance with their duties, authority
            and responsibilities. The implementation of governance in the
            provision of remuneration aims to encourage prudent risk taking
            to maintain the Bank’s business sustainability.



      Remuneration Policy for the Board of                            dated 24 September 2021, and lastly amended by
      Commissioners and the Board of Directors                        the SOE Minister Regulation No. PER-3/MBU/03/2023
      In providing remuneration for the Board of Commissioners        concerning the Organization and Human Resources
      and Directors, Bank Mandiri upholds the principle of            of State-Owned Enterprises.
      prudential as well as refers to the prevailing regulations   2. SOE Minister Regulation No. PER-01/MBU/2011 regarding
      of law. Currently, the Company has implemented a                the Implementation of Good Corporate Governance
      good governance in terms of remuneration provision              in State-Owned Enterprises as amended by the SOE
      to the Board of Commissioners. This manner aims to              Minister Regulation No. PER-09/MBU/2012 concerning
      promote prudent risk-taking to maintain the Company’s           Amendments to the SOE Minister Regulation No. PER-
      sustainability.                                                 01/MBU/2011 regarding the Implementation of Good
                                                                      Corporate Governance in State-Owned Enterprises,
      Bank Mandiri is committed to implement governance in            and lastly amended by the SOE Minister Regulation
      providing remuneration by formulating policies that have        No. PER-2/MBU/03/2023 concerning Guidelines for
      been authorized under the Joint Decree of the Board of          Governance and Significant Corporate Activities of
      Commissioners and Board of Directors on Remuneration            State-Owned Enterprises.
      Policy of PT Bank Mandiri (Persero) Tbk dated 20 March       3. POJK 17 of 2023 concerning the Implementation of
      2018. The determination of remuneration for the Board of        Governance for Commercial Banks
      Commissioners refers to:                                     4. OJK Regulation No.45/ POJK.03/2015 on the
      1. SOE Minister Regulation No. PER-04/MBU/2014                  Implementation of Governance in Providing
          regarding Guidelines for Determining the Remuneration       Remuneration for Commercial Banks.
          of Directors, Board of Commissioners, and Supervisory
          Board of State-Owned Enterprises as amended by
          the SOE Minister Regulation No. PER-13/MBU/09/2021




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 CORPORATE                ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE
 GOVERNANCE               & PRACTICES                         RESPONSIBILITY                         STATEMENTS 2023




                                                     GOVERNANCE IN PROVIDING REMUNERATIONS




 5. The Company’s Articles of Association                            b. Conducting frauds, breaking the law, behaving
                                                                         in an unethical manner, and/or falsifying records.
 Pursuant to POJK No. 45/POJK.03/2015 on the                         c. Intentionally violating the bank’s policy, rules, and
 Implementation of Governance in Providing Remuneration                  procedures.
 for Commercial Banks, Bank Mandiri has performed                    d. Inducing significant negative impacts towards
 Governance in Providing Remuneration that has taken                     bank capital not caused by economic or industrial
 into account various aspects, including the bank financial              climate change.
 stability, the creation of risk management, short-term           4. In implementing remuneration for MRT executives,
 and long-term liquidity requirements, and potential future          Bank Mandiri acts under the provisions from Financial
 revenue.                                                            Service Authority, Regulations of the Ministry of SOEs,
                                                                     and the Company’s remuneration policy.
 The Bank may carry out malus and clawback of variable
 remuneration for the Bank executives who are under the           Remuneration and Nomination Committee
 category of Material Risk Taker (MRT), with the following        The Board of Commissioners has established the
 stipulations:                                                    Remuneration and Nomination Committee that aims to
                                                                  assist in areas related to the remuneration and nomination
 1. The Company will have malus and or clawback                   of members of the Board of Directors and the Board of
    in specific circumstances in applying variable                Commissioners. One of the duties of the Remuneration
    remuneration, by taking into account some factors             and Nomination Committee is to create a remuneration
    as follows:                                                   system for the Board of Commissioners and Directors
    a. The financial or non-financial loss of the Company.        which will become part of the corporate governance
    b. The direct or indirect involvement of the concerned        policy guidelines and will serve as the basis for the Board
         executives in the loss.                                  of Commissioners and the GMS in determining the
 2. Variable remuneration must be deferred amounting              remuneration for members of the Board of Commissioners
    a percentage specified by the Company.                        and/or members of the Board of Directors.
 3. This policy applies for MRT executives under the
    following criteria:                                           The elaboration on the Remuneration and Nomination
    a. Causing financial or non-financial loss to the             Committee is presented in the Remuneration and
         Company.                                                 Nomination Committee section of the Corporate
                                                                  Governance Chapter in this Annual Report.




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            HIGHLIGHTS                         REPORT                                   PROFILE                                  AND ANALYSIS




      GOVERNANCE IN PROVIDING REMUNERATIONS




                                   Committee                            Board of
                                Remuneration and                      Commissioners
                                   Nomination

                                         1                                    2

                                                                                                               Serie A
                                                                                                             Dwiwarna
                                                                                                            Shareholders



                                         FSA                                GMS


                                         5                                    4                                     3

        1   Prepare and propose      2   • Review the proposal    3   • Evaluation of          4   Appointment and           5    • Conduct Fit and
            Recommendations                of the Remuneration          the Fulfillment of         Succession of Directors          Proper Test
            for Board of Directors         and Nomination               Requirements of                                           • Approval of
            Succession                     Committee                    Candidates for                                              the Company’s
                                         • Propose Board of             Members of the                                              Management
                                           Directors Succession         Board of Directors                                          Candidate
                                           to Series A Dwiwarna       • Approval of Board of
                                           Shareholders                 Directors Succession




      The determination of remuneration for the Board of                                b. Approval of authority for the Board of Commissioners
      Commissioners and Directors is carried out with the                                  to determine the element and amount of the
      following procedures:                                                                remuneration.
      1. The Remuneration and Nomination Committee holds a
           review on remuneration for the Board of Commissioners                   Remuneration Policy Scope and Its Implementation
           and Directors.                                                          Pursuant to OJK Regulation No. 45/POJK.03/2015
      2. The Committee coordinates with Human Capital                              concerning the Implementation of Governance in
           Director and Executives as well as related unit to                      Providing Remuneration for Commercial Banks, Bank
           develop the remuneration proposal.                                      Mandiri has a Remuneration Policy which was approved
      3. The Committee coordinates with the Risk Management                        through a Joint Decree of the Board of Commissioners and
           Unit in establishing policies on variable remuneration.                 Directors dated 20 March 2018. The remuneration policy
      4. Based on the review, the Committee draws up                               is the bank’s strategy in providing rewards to employees,
           recommendation on remuneration for submission to                        adapted to the Bank’s ability to accommodate changes
           the Board of Commissioners and Directors.                               in employee demographics, management of labour
      5. The Board of Commissioners presents the proposal                          costs, and in order to promote the achievement of Bank
           and recommendation reviewed by the Remuneration                         Mandiri’s business goals. Bank Mandiri remuneration is
           and Nomination Committee to the General Meeting                         structured with the aim of being able to attract, retain,
           of Shareholders to obtain approval.                                     motivate and increase employee engagement so that
      6. The proposal and recommendation of the Board of                           they can continuously provide optimum performance,
           Commissioners may be in the form of:                                    support the vision, mission and strategy of the Bank.
           a. Approval on the element and amount of the
               remuneration; or



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GOVERNANCE
 GOVERNANCE                & PRACTICES                          RESPONSIBILITY                          STATEMENTS 2023




                                                       GOVERNANCE IN PROVIDING REMUNERATIONS



 The remuneration policy that has been established                  (key performance indicators) that has been agreed upon
 currently regulates the remuneration of the Board of               cannot be achieved so it is necessary to make adjustments
 Commissioners and the Board of Directors, which will then          to the remuneration as well as the amount of remuneration
 be applied to employees at certain levels who will be              adjustment if this condition occurs.
 determined as material risk takers. The determination of
 the material risk taker is carried out using qualitative and       The application of the remuneration strategy is also carried
 quantitative approaches. In determining the remuneration           out by taking into account the performance of each
 for employees, Executives, Directors and Commissioners,            individual employee, the performance of the work unit
 the Remuneration and Nomination Committee has several              and the overall performance of the Bank, but still within
 considerations, including:                                         the stipulated budget. In general, in implementing total
 1. Benchmarking results of employee remuneration,                  rewards, Bank Mandiri provides salaries, annual salary
     executives, members of the Board of Directors and              adjustments, holiday allowances (THR), annual leave
     members of the Board of Commissioners with similar             fees, and large leave pay for each 3 (three) year working
     industries (peer group).                                       period. Bank Mandiri also provides health facilities for
 2. The size and complexity of the firm’s operations.               employees and their family members, including inpatient
 3. Remuneration consists of standardized salaries/                 care, outpatient care, childbirth, dental care, General
     honorariums and benefits, namely Annual Holiday                Check Up, eyeglasses and the health program for Bank
     Allowances (THR), official housing, official vehicles,         Mandiri retirees.
     health facilities and utilities and other benefits.
     Meanwhile, performance-based remuneration is a                 Remuneration Adjustment Related
     bonus/ incentive for employees and bonuses for the             to Performance and Risk
     Board of Directors and the Board of Commissioners.             Bank Mandiri provides variable remuneration, namely
                                                                    remuneration related to performance and risk, including
 In general, Bank Mandiri’s remuneration strategy is guided         bonuses, rewards/ performance incentives or other
 by the Manpower Law and Financial Services Authority               equivalent forms. Remuneration in the form of bonuses,
 Regulations. The total reward strategy for the long term           rewards, incentives can be given in the form of cash,
 is that the Bank has a strong competitive value against            shares or share-based instruments issued by Bank Mandiri
 the market, namely:                                                with special provisions for the benefit of the Board of
 1. Strive for the general position of the Bank at 75               Commissioners given in cash to avoid conflict of interest
      percentiles.                                                  in carrying out supervision.
 2. Especially for top talent and critical jobs, it can be
      positioned up to 90 percentiles.                              External Consultant Services
                                                                    To find out the position of the Bank’s remuneration against
 Remuneration Associated with Risks                                 market conditions, every year Bank Mandiri participates
 In providing remuneration, Bank Mandiri observes                   in the Annual Salary Survey which is conducted by an
 the principles of prudence which aim to encourage                  independent and competent third party. The results of the
 prudent risk taking in order to maintain the continuity            study from the survey were used as a basis for adjusting
 of Bank Mandiri’s business. Bank Mandiri determines the            the remuneration strategy of Bank Mandiri which would
 performance measurement method and types of risk                   then be proposed at the Board of Directors Meeting for
 in determining the provision of variable remuneration              approval.
 according to the scale and complexity of Bank Mandiri’s
 business activities. In determining the remuneration policy,       Process for Preparation of Remuneration Policy
 Bank Mandiri takes into account the types, criteria, impacts       Remuneration policy was one of the important factors
 and changes in determining the main types of risk in               in obtaining and/or maintaining employees, executive
 determining remuneration.                                          officers, Directors and Board of Commissioners who were
                                                                    competent and qualified. It was the Bank’s strategy in
 Performance Measurement                                            providing rewards according to the ability of Bank Mandiri
 Related to Remuneration                                            in accommodating changes in employee demographics,
 In providing remuneration, Bank Mandiri conducts                   management of labour costs, and to encourage the
 performance measurements related to remuneration                   achievement of Bank Mandiri’s business objectives.
 including a review of remuneration policies related to
 performance assessments, methods of linking individual
 remuneration with Bank Mandiri performance, work
 unit performance and individual performance and
 methods used by Bank Mandiri to certify performance



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            HIGHLIGHTS                   REPORT                          PROFILE                            AND ANALYSIS




      GOVERNANCE IN PROVIDING REMUNERATIONS



      Bank Mandiri’s remuneration was prepared with the aim          3. Remuneration consisted of salary/honorarium and
      of being able to attract, maintain, motivate, and increase        benefits that could be standardized, namely Annual
      the commitment of employees to continuously provide               Holiday Allowance (THR), Home Service, Vehicle
      optimal performance as well as to support Bank Mandiri’s          Service, Health and Utilities Facilities and other benefits.
      vision, mission and strategy.                                     Whereas remuneration based on performance was
                                                                        a bonus/incentive for employees and bonuses for
      Bank Mandiri’s considerations when preparing the                  the Board of Directors and Board of Commissioners.
      remuneration policy:
      1. Financial performance and reserve fulfilment as             REMUNERATION AND FACILITIES OF
         stipulated in the applicable laws and regulations.          THE BOARD OF COMMISSIONERS
      2. Remuneration that is adapted to the industry in             AND DIRECTORS
         accordance with the Company’s business activities
         and the scale of the company’s business in the industry.    Remuneration Structure of Members of the Board of
      3. The duties, responsibilities and authorities of members     Commissioners and Directors
         of the Board of Directors and members of the Board          By taking into account the prevailing remuneration
         of Commissioners related to the achievement of the          stipulations, the remuneration for the Board of
         Company’s goals and performance.                            Commissioners and Board of Directors is provided in the
      4. Target or performance of each member of the                 form of:
         Board of Directors and/or members of the Board of           1. Fixed remuneration, a remuneration that is unrelated
         Commissioners in order to achieve equality between              to performance and risk, such as salary/honorarium,
         the work results and the benefits received.                     facilities, housing allowance, health allowance,
      5. Balance between permanent and variable benefits.                education allowance, festive allowance, and post-
      6. The Bank’s Long-term goals and Strategies                       employment benefit Salary/ honorarium, facilities,
                                                                         allowances, and post-employment benefit are
      Indicators/Coverage of Remuneration                                provided in cash.
      Policy and Its Implementation                                  2. Variable remuneration: Remunerations provided
      Pursuant to OJK Regulation No. 45/POJK.03/2015                     in connection with performance and risks, such as
      concerning the Implementation of Governance in                     bonuses, rewards/ performance incentives, or any
      Providing Remuneration for Commercial Banks, Bank                  other similar forms.
      Mandiri has in place the Remuneration Policy which
      was ratified through a Joint Decree of the Board of            Bonuses, rewards, and incentives may be provided in
      Commissioners and Directors dated 20 March 2018.               cash, shares, or stock-based instruments issued by the
      Currently, the remuneration policy only regulated the          Company, and cash only for the Board of Commissioners
      remuneration for the Board of Commissioners and                to prevent conflict of interest in their supervisory duties.
      Board of Directors, which will further be implemented to
      employees at certain levels determined as material risk
      takers. Determination of risk taker material will be carried
      out by using a qualitative and quantitative approaches.

      Remuneration Policy for Employees
      In determining the remuneration of employees, Executives,
      Directors and Board of Commissioners, the Remuneration
      and Nomination Committee consider the following:
      1. Benchmarks on remuneration of employees, executive
          officers, members of the Board of Directors and
          members of the Board of Commissioners with similar
          industries (peer group).
      2. The size and complexity of the company’s operations.




644   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
 GOVERNANCE                          & PRACTICES                                 RESPONSIBILITY                                         STATEMENTS 2023




                                                                         GOVERNANCE IN PROVIDING REMUNERATIONS



 The structure for determining the remuneration for the Board of Commissioners and the Board of Directors is as follows:

                                        Remuneration Structure of the Board of Commissioners and Directors
                                                                                                       Rules
  No          Types of Income
                                                           Board of Commissioners                                         Board of Commissioners
  1.    Honorarium/Gaji                    The amount of position factor                                  The amount of position factor
                                           • President Commissioner 45% of the President                  • Vice President Director 95% of Managing Directors
                                              Director                                                    • Director in charge of HR 90% of the President
                                           • Vice President Commissioner 42.5% of the President              Director
                                              Director                                                    • Other Directors Members 85% of the President
                                           • Commissioners 90% of the President Commissioner                 Commissioners
  2.    Allowances
        Religious Holiday                  1 (one) time honorarium                                        1 (one) time honorarium
        Allowance
        Housing allowance                  Not given                                                      Housing allowance was given monthly if the person did
                                                                                                          not occupy an official residence with a maximum of
                                                                                                          Rp27,500,000
        Transportation Allowance           Equal to 20% of the honorarium                                 Not given
        Annual Leave Allowance             Not given                                                      Not given
        Retirement Compensation            Maximum insurance premium was 25% of honorarium/               Insurance premium maximum was 25% of salary/year
                                           year
  3.    Facilities
        Service Vehicle Facilities         Given in the form of transportation allowance of 20% of Given 1 (one) service vehicle in the form of rental
                                           the honorarium                                          according to the predetermined criteria
        Health Facilities                  Replacement of treatment in accordance with the                Replacement of treatment in accordance with the
                                           internal policy number KEP.KOM/03/2022                         internal policy number KEP.KOM/03/2022
        Professional Facilities            Maximum 2 (two) memberships relevant to the                    Maximum 2 (two) memberships relevant to the
        Association                        Company’s activities                                           Company’s activities
        Legal Assistance Facilities        Legal assistance facilities following the internal policy      Legal assistance facilities following the internal policy
                                           number KEP.KOM/03/2022                                         number KEP.KOM/03/2022
  4.    Bonuses, Rewards,                  Can be given in the form of shares or cash.                    Can be given in the form of shares or cash.
        Incentives



 Nominals of Every Component of the Remuneration Structure of the
 Board of Commissioners and the Board of Directors
 Remuneration in one year is grouped into the range of income levels as follows.

                                  Nominal Amount of Remuneration for the Board of Commissioners and Directors
                                                                                                          Jumlah diterima
        Total Remuneration and Other Facilities                                 Dewan Komisaris                                          Direksi
                                                                 Jumlah Orang         Jumlah dalam Rp Juta            Jumlah Orang         Jumlah dalam Rp Juta
  Remunerations
  Salaries                                                         11 Persons                  31,671                   12 Persons                  91,326
  Housing Allowances                                                     -                                              2 Persons                    859
  Tantiem                                                          11 Persons                 162,483                   12 Persons                 410,650
  Other Facilities in the form of Natura
  Housing (cannot be owned)                                              -                                              10 Persons                     -
  Transportation (cannot be owned)                                       -                      5,648                   12 Persons                     -
  Full-service Insurance (can be owned)                                  -                      4,533                   12 Persons                  11,311
  Health (cannot be owned)                                         11 Persons                    538                    12 Persons                  4,060
  Remuneration Amount per person in 1 year
  Above Rp2 billion                                                11 Persons                     -                     12 Persons                     -
  Above Rp1 billion to Rp2 billion                                       -                        -                          -                         -
  Above Rp500 million to Rp1 billion                                     -                        -                          -                         -
  Rp500 million and below                                                -                        -                          -                         -




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                HIGHLIGHTS                                REPORT                                            PROFILE                             AND ANALYSIS




      GOVERNANCE IN PROVIDING REMUNERATIONS



      The basis for the stock bonus:

      To fulfill POJK No. 45/POJK.03/2015 concerning Implementation of Good Corporate Governance in Providing Remuneration
      for Commercial Banks.

                           Name                                                                  Position                                          Bonus Shares
      Board of Commissioners
      Muhamad Chatib Basri                                 President Commissioner/Independent                                                           Nil
      Andrinof A. Chaniago                                 Vice President Commissioner/Independent                                                      Nil
      Loeke Larasati Agoestina                             Independent Commissioner                                                                     Nil
      Muliadi Rahardja                                     Independent Commissioner                                                                     Nil
      Heru Kristiyana*)                                    Independent Commissioner                                                                     Nil
      Zainudin Amali*)                                     Independent Commissioner                                                                     Nil
      Rionald Silaban                                      Commissioner                                                                           552,300 shares
      Faried Utomo                                         Commissioner                                                                           552,300 shares
      Arif Budimanta                                       Commissioner                                                                           552,300 shares
      Nawal Nely                                           Commissioner                                                                           552,300 shares
      Muhammad Yusuf Ateh                                  Commissioner                                                                           552,300 shares
      Direksi
      Darmawan Junaidi                                     President Director                                                                     1,363,700 shares
      Alexandra Askandar                                   Vice President Director                                                                1,227,400 shares
      Ahmad Siddik Badruddin                               Director of Risk Management                                                            1,159,200 shares
      Agus Dwi Handaya                                     Director of Compliance and HR                                                          1,159,200 shares
      Eka Fitria**)                                        Director of Treasury & International Banking                                                 Nil
      Riduan                                               Director of Commercial Banking                                                         1,159,200 shares
      Aquarius Rudianto                                    Director of Network & Retail Banking                                                   1,159,200 shares
      Toni E. B. Subari                                    Director of Operations                                                                 1,159,200 shares
      Susana Indah K. Indriati                             Director of Corporate Banking                                                          1,159,200 shares
      Rohan Hafas                                          Director of Institutional Relations                                                    1,159,200 shares
      Sigit Prastowo                                       Director of Finance & Strategies                                                       1,159,200 shares
      Timothy Utama                                        Director of Information Technology                                                     1,159,200 shares
      *) Appointed as Independent Commissioner at the Annual GMS dated 14 March 2023
      **) Appointed as Director at the Annual GMS dated 14 March 2023.


      Variable Remuneration to Directors, Board of Commissioners and Employees
      The number of Directors, Commissioners and Employees who received variable remuneration for 1 (one) year and total
      nominal are as follows.

                                                                                                                    Amount received in 1 (one) Year
                                 Variable Remunerations                                                  Board of Directors               Board of Commissioners
                                                                                                 Persons              Rp Million        Persons               Rp Million
      Total                                                                                         12                 185,916             11                  73,562




646   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                    FINANCIAL
GOVERNANCE
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                              STATEMENTS 2023




                                                            GOVERNANCE IN PROVIDING REMUNERATIONS



 Variable Remuneration                                                   applicable in the operational area of Bank Mandiri. In
 In addition, the Bank provides variable compensation                    implementing remuneration governance, Bank Mandiri
 including location allowances, certain position allowances,             strives to maintain a gap in the salary ratio of all employees
 performance allowances for frontliners, overtime                        hence there is no too high difference. In detail, information
 compensation, performance achievement bonuses,                          regarding the ratio of the highest and lowest salaries is
 sales incentives, retention programs and the Long-Term                  presented in the Sustainability Report.
 Incentive program in the form of shares. Specifically for
 members of the Independent Board of Commissioners get                   Number of Recipients and Total Variable Remuneration
 remuneration in cash in accordance with the provisions                  During 2023, no number of recipients and the total
 of OJK Regulation No. 45/POJK.03/2015.                                  number of Variable Remunerations that were guaranteed
                                                                         unconditionally to be given by Bank Mandiri to candidates
 To support official service, Bank Mandiri provides facilities           for the Board of Directors, candidates for the Board of
 such as official housing, reimbursement of utility costs,               Commissioners, and/or prospective employees during
 telephone credit, and rental official vehicles. Meanwhile,              the first 1 (one) year of work as referred to in Article 21
 to support the needs of employees in ownership of houses,               OJK Regulation No. 45/POJK.03/2015
 vehicles and other needs, Bank Mandiri provides Employee
 Welfare Credit facilities.                                              Total Amount of Deferred Variable Remuneration
                                                                         Until the end of 2023, the amount of variable remuneration
 Position and Numbers as Material Risk Takers                            that was still deferred in the form of Bank Mandiri shares
 All members of the Board of Commissioners and Directors                 or time deposits is as follows:
 of Bank Mandiri are material risk takers. There are 23                  1. Shares, with a total of 81,830,200 shares.
 (twenty-three) members of the Board of Directors and                    2. Cash, with a total of Rp57,900,729,883.
 the Board of Commissioners who served during the 2023
 financial year. Including Directors and Commissioners                   Quantitative Information
 whose term of office ends at the 2023 Annual GMS.                       Quantitative information regarding:
                                                                         1. Total remaining deferred Remuneration, whether
 Shares Options                                                             exposed to implicit or explicit adjustments.
 Bank Mandiri did not issue share option programs for                    2. Total reduction in remuneration due to explicit
 Directors, Board of Commissioners, and employees                           adjustments during the reporting period.
 throughout 2023.                                                        3. Total reduction in remuneration due to implicit
                                                                            adjustments during the reporting period.
 Ratio of the Highest and The Lowest Salaries
 Bank Mandiri complies with all applicable regulations                   As in the following table:
 regarding remuneration for employees. The amount of
 remuneration given has been adjusted to the prevailing
 regulations and is above the Minimum Wage standard



                                                                                               Total Deductions Over the Period
            Types of Variable Remuneration                  Remaining Deferred        Caused an Explicit    Caused an Explicit    Total (A)
                                                                                       Adjustment (A)        Adjustment (B)         + (B)
 Cash (in million rupiah)                                    Rp32,829,571,326                 -                     -                 -
 Shares/share-based instruments issued by the Bank. (In   30,091,400 lembar saham             -                     -                 -
 shares and a million-rupiah nominal value which is a
 conversion of the said share sheet)




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      BOARD OF DIRECTORS




           The Board of Directors is the Company’s organ that is collectively
           authorized and fully responsible for the Company’s management
           for the benefit of the Company, in accordance with the Company’s
           purposes and objectives, and represents the Company both inside
           and outside of the court, in compliance with the provisions of
           the articles of association and laws and regulations. The Board
           of Directors also has the authority to control the course of the
           Company, to take measures and policies deemed necessary to
           ensure the Company’s efficient operations by taking into account
           efficiency and effectiveness aspects.




      Prudential banking, professional codes of ethics and         No. 27/POJK.03/2016 concerning Fit and Proper Test
      code of conduct, national and international banking          for the Main Party of Financial Services Institution that
      conventions, and compliance with Bank Indonesia              prospective members of the Board of Directors shall obtain
      Regulations shall be taken into account by the Board of      the approval from the OJK prior to carrying out its actions,
      Directors in the Company’s management in compliance          duties and functions as the Board of Directors.
      with the principles of good corporate governance.
      Statutory requirements and Financial Services Authority      BOARD OF DIRECTORS COMPOSITION
      regulations                                                  In 2023, the composition of members of the Company’s
                                                                   Board of Directors underwent changes as explained
      The Board of Directors shall comply with the Articles of     below.
      Association of the Company and the laws and regulations
      and shall implement the professionalism, efficiency,         The resolution of Annual GMS dated 14 March 2023,
      transparency, independence, accountability, responsibility   hereby agreed upon to:
      and appropriateness principles. Each member of the           1. Honorably dismissed Mr. Panji Irawan as Director.
      Board of Directors of Bank Mandiri shall perform his/her     2. Appointed Mrs. Eka Fitria, as Director.
      duties and liabilities with goodwill, responsibility, and
      prudence, in accordance and compliance with the
      applicable laws.                                             The composition of the Company’s Board of Directors
                                                                   following the Annual GMS on 14 March 2023 remained 12
      APPOINTMENT BASIS                                            (twelve) members consisting of 1 (one) President Director,
      All members of the Board of Directors have passed the        1 (one) Vice President Director and 10 (ten) Directors. The
      fit and proper tests and have obtained approval from         composition and basis for appointment of the Board of
      the OJK, indicating that each member of the Board            Directors can be seen in the table below.
      of Directors has adequate integrity, competence and
      financial reputation in accordance with OJK Regulation




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                                                                                                                 BOARD OF DIRECTORS


                                               Composition and Appointment Basis of the Board of Directors
              Name                                          Position                      Basis of Appointment       Effective Date      Period
  Darmawan Junaidi*)               President Director                                   AGMS 10 March 2022        23 December 2020    2022 - 2027
  Alexandra Askandar*)             Vice President Director                              EGMS 21 October 2020      23 December 2020    2018 - 2023
  Ahmad Siddik Badruddin*)         Director of Risk Management                          AGMS 19 February 2020     25 June 2015        2020 - 2025
 Agus Dwi Handaya*)                Director of Compliance and HR                        AGMS 21 March 2018        12 September 2018   2018 - 2023
 Panji Irawan**)                   Director of Treasury and International Banking       AGMS 21 March 2018        4 September 2018    2018 - 2023
 Riduan*)                          Director of Commercial Banking                       EGMS 7 January 2019       15 May 2019         2019 - 2023
 Aquarius Rudianto                 Director of Network and Retail Banking               AGMS 19 February 2020     2 September 2020    2020 - 2025
 Toni E. B. Subari                 Director of Operations                               EGMS 21 October 2020      15 January 2021     2020 - 2025
 Susana Indah K. Indriarti         Director of Corporate Banking                        EGMS 21 October 2020      21 January 2021     2020 - 2025
 Rohan Hafas                       Director of Institutional Relations                  EGMS 21 October 2020      23 December 2020    2020 - 2025
 Sigit Prastowo                    Director of Finance and Strategies                   EGMS 21 October 2020      23 December 2020    2020 - 2025
 Timothy Utama                     Director of Information Technology                   AGMS 15 March 2021        24 May 2021         2021 - 2026
 Eka Fitria***)                    Director of Treasury and International Banking       AGMS 14 March 2023        21 August 2023      2023 - 2027
  *) Serves as Member of the Board of Directors for the Second Term.
  **) Ended his tenure effective as of the Annual GMS dated 14 March 2023.
  ***) Appointed as Director at the Annual GMS dated 14 March 2023.



 BOARD OF DIRECTORS CHARTER                                                             of the Company both inside and outside the Court.
 In implementing its duties, the Board of Directors has                             4. Arrange and define vision and mission, strategy and
 the Charter that elaborate the Guidance and Codes                                      the management policy of the Company.
 of Conduct which has been ratified by the Board of                                 5. Arrange, establish, supervise and evaluate the
 Directors Decree No. KEP.DIR/040/2023 on 23 October                                    implementation of the Company’s medium- and long-
 2023 regarding the Guidelines and Codes of Conduct for                                 term Plans (Corporate Budget Work Plan, Business Plan
 the Board of Directors of PT Bank Mandiri Tbk. The content                             Development, Sustainable Financial Action Plans and
 of the Board of Directors Charter regulates the following:                             Human Resource Development Plans).
 1. General Terms                                                                   6. Set the Company’s performance targets, conduct
 2. Organization, Management, Authority to Act, Duties                                  supervision and evaluation and striving for the
     and Responsibilities                                                               achievement of the Company’s performance targets.
 3. Board of Directors Meetings                                                     7. Arrange, implement and evaluate the Company’s
 4. Working Time and Ethics                                                             risk management strategies and policies from the
 5. Committees                                                                          identification stage to risk monitoring.
 6. Correspondences                                                                 8. Establish the policies and implement Good Corporate
 7. Board of Directors Shareholding                                                     Governance principles and internal control.
 8. Performance Assessment of the Board of Directors                                9. Maintain the image of the Company and establish
 9. Others                                                                              relationships with all stakeholders.
 10. Change                                                                         10. Carry out other duties and responsibilities regulated in
 11. Closing                                                                            the Articles of Association, laws and regulations, and
                                                                                        stipulations of the General Meeting of Shareholders,
 BOARD OF DIRECTORS DUTIES                                                              Board of Director’s Meetings and the Company
 AND RESPONSIBILITIES                                                                   regulations.
 The duties and responsibilities of the Company’s Board of
 Directors are as follows:                                                          Rights and Authorities of
 1. Perform and be responsible for the management                                   the Board of Directors
     of the Company for the interest and in accordance                              The Board of Directors has the following rights and
     with the purposes and objectives of the Company as                             authorities:
     stipulated in Articles of Association and act as leaders                       1. Take all actions and decision in managing the
     in the management.                                                                Company by observing the Company’s Articles
 2. Maintain and manage the Company’s assets.                                          of Association, Laws and Regulations, Company
 3. Represent the Board of Directors for and on behalf                                 regulations and Good Corporate Governance.




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      BOARD OF DIRECTORS



      2. Establish the segregation of management duties                               9. Not collecting interest receivables, fines, fees, and
         amongst the Directors, in the event that it is not                               other receivables in the context of restructuring and/
         decided by the General Meeting of Shareholders.                                  or settlement of receivables as well as taking other
      3. Direct and set the policies as well the Company                                  actions to settle the Company’s receivables with the
         regulations to support the Company’s management/                                 obligation to report to the Board of Commissioners with
         activities related to budget/financial of business                               the reporting provisions and procedures determined
         activities risk management, operational, and human                               by the Board of Commissioners.
         resources.                                                                   10. Carry out all other actions regarding the management
      4. Regulate the delegation of powers of the Board                                   and ownership of the Company’s treasury, binds the
         of Directors to represent the Company inside and                                 Company with other parties and/or vice versa, as well
         outside the Court to one or several specific people                              as representing the Company inside and outside the
         as individuals or collectively and/or to another body.                           Court about all matters and events, with restrictions
                                                                                          stipulated in the laws and regulations, Articles of
      5. Regulate provisions regarding employees including the                            Association and/or the GMS decision.
         determination of salaries, pensions, or day guarantees                       11. Determine the Organizational Structure and Company
         old and other income for the Company’s employees                                 executives up to a certain level that is regulated
         based on legislation.                                                            through the Decree of the Board of Directors with
      6. Appoint and dismiss employees based on labour and                                regard to provisions of the Articles of Association, laws
         other laws and regulations.                                                      and regulations and Company regulations.
      7. Appoint and dismiss the Corporate Secretary and/or                           12. Delegating duties, responsibilities and authority to
         Head of Internal Audit Unit with the approval of the                             executives below the Directors to assist in managing
         Board of Commissioners.                                                          the Company while taking into account the Articles
      8. Write off bad debts according to provisions in the                               of Association, laws, and Company regulations.
         Articles of Association which further shall be reported                      13. Supervising every Company activity to be in
         to Board of Commissioners to be reported and                                     accordance with its aims and objectives and Good
         accounted for in the Annual Report.                                              Corporate Governance.

      Board of Directors Duties Segregations
      In carrying out its duties, the Board of Directors’ duties are divided into the following:

           Name                   Position                                                         Supervision
      Darmawan            President Director      Internal Audit (Wholesale & Corporate Center Audit, Retail Audit, IT Audit, Senior Investigator).
      Junaidi
      Alexandra           Vice President          Special Asset Management, Legal
      Askandar            Director
      Ahmad Siddik        Director of Risk        Wholesale Risk, Corporate Risk, Commercial Risk, Credit Control & Supervision, Market Risk, Operational
      Badruddin           Management              Risk, Credit Portofolio Risk, Policy & Procedure, Consumer Credit Risk & Analytics, SME & Micro Risk, Retail
                                                  Collection & Recovery, Retail Product Delivery & Fraud Risk
      Agus Dwi            Director of             Compliance & AML – CFT, Human Capital, Mandiri University, Office of The Board
      Handaya             Compliance and HR
      Eka Fitria*)        Director of Treasury    Treasury, International Banking & Financial Institution, Transaction Banking Wholesale, Strategic
                          and International       Procurement
                          Banking
      Riduan              Director of             Commercial Banking, Commercial Solution
                          Commercial Banking
      Aquarius            Director of Network     Micro Development & Agent Banking, Micro Personal Loan, Credit Cards, Consumer Loans, SME Banking,
      Rudianto            and Retail Banking      Wealth Management, Distribution Strategy, Transaction Banking Retail Sales, Retail Deposit Product &
                                                  Solution
      Toni E. B. Subari   Director of Operations Wholesale Credit Operation, Retail Credit Operation, Retail Credit Center, Cash & Trade Operations,
                                                 Electronic Channel Operations, Customer Care, Business Continuity Management




650   PT Bank Mandiri (Persero) Tbk
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CORPORATE                          ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                        FINANCIAL
GOVERNANCE                         & PRACTICES                             RESPONSIBILITY                                  STATEMENTS 2023




                                                                                                                  BOARD OF DIRECTORS


       Name                  Position                                                         Supervision
 Susana Indah K.     Director of Corporate      Corporate Banking, Corporate Solution
 Indriarti           Banking
 Rohan Hafas         Director of Institutional Government & Institutional, Government Solution, Corporate Secretary, Corporate Real Estate,
                     Relations                 Government Project
 Sigit Prastowo      Director of Finance        Strategy & Performance Management, Accounting, Investor Relations, Strategic Investment & Subsidiaries
                     and Strategies             Management, Business Transformation, Corporate Transformation
 Timothy Utama       Director of Information Information Technology, Digital Banking, Enterprise Data Analytics
                     Technology
  *) Appointed as Director at the Annual GMS dated 14 March 2023.


 BOARD OF DIRECTORS TENURE                                                              d. never becomes a member of the Board of Directors
                                                                                           and/or member of the Board of Commissioners
 The term of office of the Board of Directors is as follows:                               who, during his/ her tenure:
 1. The Board of Directors members are appointed for the                                   • has failed to hold Annual GMS.
    tenure effective as of the GMS closing or other dates                                  • whose accountability as member of Board of
    specified by the GMS and ends after the closing of the                                    Directors and/or Board of Commissioners has
    5th (fifth) Annual GMS after the appointing date, on the                                  been declined by GMS or has never provided
    condition of no more than 5 (five) years, by considering                                  accountability report as member of Board of
    the applicable laws and regulations including the                                         Directors and/or Board of Commissioners to
    Capital Market, without reducing the GMS rights to                                        GMS.
    dismiss the Board of Directors members at any time                                     • has caused a company that has license,
    before the tenure ends.                                                                   approval, or registration from FSA not to fulfil
 2. The dismissal is effective after the closing of the GMS,                                  its obligation to deliver Annual Report and/or
    unless defined otherwise by the GMS.                                                      financial report to the OJK.
 3. After the tenure ends, the Board of Directors members                               e. Has the commitment to comply with the laws and
    can be reappointed by the GMS for another tenure.                                      regulations.
                                                                                        f. Has the knowledge and/or expertise in the area
 CRITERIA OF THE BOARD OF DIRECTORS                                                        required by the Company.
 The candidates of the Board of Directors members are
 individuals who when appointed or during the tenure
 meet the following requirements:                                                BOARD OF DIRECTORS CONCURRENT
 1. Having good ethics, morals and integrity.                                    POSITIONS POLICY
 2. Eligible to conduct legal actions.
 3. Within 5 (five) years prior to appointment or during                         The provisions for concurrent positions for the Board of
     the office, he/she:                                                         Directors are regulated in the following:
     a. Has never been declared bankrupt.                                        1. Regulation of the Minister of SOEs No. PER-11/
     b. Has never been a member of the Board of Directors                            MBU/07/2021 concerning Requirements, Procedures
        and/ or Board of Commissioners found guilty of                               for Appointment, and Dismissal of Members of the
        causing a Company bankrupt.                                                  Board of Directors of State-Owned Enterprises, as
     c. Has never been sentenced of crime for causing                                amended by Regulation of the Minister of SOEs No.
        the loss of the country and/or relating to financial                         PER-7/MBU/09/2022, and lastly amended by the SOE
        sector.                                                                      Minister Regulation No. PER-3/MBU/03/2023 concerning
                                                                                     the Organization and Human Resources of State-
                                                                                     Owned Enterprises, members of the Board of Directors
                                                                                     are prohibited from holding concurrent positions as:
                                                                                     a. Member of the Board of Directors in State-Owned
                                                                                         Enterprises, Regional-Owned Enterprises, Private-
                                                                                         Owned Enterprises.




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      BOARD OF DIRECTORS



         b. Member of the Board of Commissioners in State-Owned Enterprises.
         c. Other structural and functional positions in central and/or regional government agencies/institutions.
         d. Political party administrators and/or legislative candidates/members; and/or candidate for regional head/
             deputy regional head.
         e. Positions that may cause conflicts of interest and/or other positions in accordance with the provisions in the
             legislation.
      2. OJK Regulation No. 17/2023 regarding the Implementation of Governance for Commercial Banks, prohibits members
         of the Board of Directors from concurrently holding positions as members of the board of directors, members of
         the board of commissioners, members of the Sharia supervisory board, or executives in banks, companies, and/or
         other institutions; in functional roles in financial institutions, banks, and/or non-bank financial institutions domiciled
         domestically or overseas; in other positions that may create conflicts of interest in carrying out duties as a member
         of the Board of Directors; and/or in other positions as stipulated by regulations.

                                                           Board of Directors Concurrent Position
                                                                                        Position in Other          Name of Other Companies/
                    Name                                   Position
                                                                                      Companies/Institutions              Institutions
      Darmawan Junaidi                President Director                          –                            –
      Alexandra Askandar              Vice President Director                     –                            –
      Ahmad Siddik Badruddin          Director of Risk Management                 –                            –
      Agus Dwi Handaya                Director of Compliance and HR               –                            –
      Eka Fitria                      Director of Treasury and International      –                            –
                                      Banking
      Riduan                          Director of Commercial Banking              –                            –
      Aquarius Rudianto               Director of Network and Retail Banking      –                            –
      Toni E. B. Subari               Director of Operations                      –                            –
      Susana Indah K. Indriarti       Director of Corporate Banking               –                            –
      Rohan Hafas                     Director of Institutional Relations         –                            –
      Sigit Prastowo                  Director of Finance and Strategies          –                            –
      Timothy Utama                   Director of Information Technology          -                            –



      BOARD OF DIRECTORS NOMINATION AND SELECTION PROCESS

      Pursuant to the Articles of Association, members of the Board of Directors are appointed and dismissed by the GMS,
      for a period of 5 (five) years effective from the date of GMS appointment. Members of the Board of Directors whose
      office terms are expired may be reappointed by the GMS.

      TThe procedure for the appointment of Bank Mandiri Board of Directors refers to OJK Regulation No. 33/POJK.04/2014
      concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies, and SOE Minister
      Regulation No. PER-3/MBU/03/2023 concerning Organs and Human Resources of State-Owned Enterprises. The following
      are procedures of the Board of Directors’ appointment:

      1. Origin of prospective SOE Board of Directors/Board of Directors candidates come from:
      a.    Former BUMN Director.
      b.    BUMN Board of Commissioners/Supervisory Board.
      c.    Structural Officers and Government Functional Officers.
      d.    Another source.

      2. The GMS/Minister may appoint candidates proposed by the Succession Committee as members of the Board of
         Directors of SOEs.
      3. For certain SOEs, the appointment of an individual as a member of the SOE Board of Directors may be made after
         passing the Fit and Proper Test (UKK) according to sectoral regulations.
      4. In the event the appointment of SOE Board of Directors members is made before the UKK according to sectoral
         regulations, the SOE Board of Directors is authorized to carry out actions, duties, and functions as members of the
         SOE Board of Directors from the date they pass the UKK according to sectoral regulations.

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                                                                                                 BOARD OF DIRECTORS



 5. SOE Board of Directors members as referred to in                   16. The administrative process by the Deputy as referred to
     paragraph (3) have a term of office effective from                    in paragraphs (12) and (14) includes documentation
     the date determined by the GMS/Minister.                              of the appointment and assessment process.
 6. In the event certain SOE Board of Directors members                17. Board members commence their duties effectively
     fail the UKK according to sectoral regulations, the                   from the date specified in the Minister’s Decision/GMS/
     GMS/Minister may dismiss such SOE Board of Directors                  decision of all shareholders by circular resolution.
     members, taking into account sectoral regulations.                18. The format of the statement letter related to the
 7. The appointment of an individual as a member of the                    appointment and dismissal of the Board of Directors
     SOE Board of Directors may be made through:                           as stated in Annex IV is an integral part of SOE Minister
     a. Decision of the Minister as the GMS/owner of                       Regulation No. PER-3/MBU/03/2023.
          capital if all shares/capital of the SOEs are owned
          by the State; or                                             The process of nominating and selecting the Board
     b. Decision of the GMS or decision of all shareholders            of Directors is carried out through the proposal of the
          by circular resolution, if not all shares are owned          members of the Board of Directors to the GMS by taking
          by the State.                                                into account the recommendations of the Board of
 8. For Public Companies, the curriculum vitae of                      Commissioners and the Remuneration and Nomination
     candidates for appointment as members of the                      Committee. Prior to the discussion on the appointment and
     BUMN Board of Directors proposed to be appointed                  dismissal of the Board of Directors in the GMS, information
     in the RUPS must be available and announced during                was provided on the profiles of new and reappointed
     the holding of the RUPS before the decision is made               candidates for the Board of Directors.
     regarding the appointment of such individuals as
     members of the SOE Board of Directors.                            MECHANISM OF RESIGNATION AND
 9. Before being appointed as a member of the SOE                      DISMISSAL OF THE BOARD OF DIRECTORS
     Board of Directors, the individual concerned must sign
     a letter of resignation from other positions prohibited           Resignation and dismissal mechanism for the Board of
     from being held concurrently with the position of SOE             Directors is regulated by the Articles of Association as
     Board of Directors member effective from the date                 follows:
     they are appointed as a member of the SOE Board                   1. The GMS may dismiss the Board of Director’s members
     of Directors.                                                          at any time by stating its reasons.
 10. In the event the individual concerned does not resign             2. The dismissal of a member of the Board of Directors is
     within the time frame as stipulated in the laws and                    called for if, based on the factual circumstance, the
     regulations, their position as a member of the BUMN                    said members:
     Board of Directors ends at that time.                                  a. Is unable/inadequate to fulfil the obligations as
 11. 10. In the event the appointment decision is made by                       agreed in the management contract;
     the Minister or decision of all shareholders by circular               b. Is unable to perform duties appropriately;
     resolution, the Deputy processes the delivery of the                   c. Violates the provisions of the Articles of Association
     Decision Letter to the selected SOE Board of Directors                     and/or the applicable laws;
     member after the Decision is determined.                               d. Engages in actions that detrimental to the
 12. In the process of delivering the Decision Letter, the                      Company and/or country;
     Deputy is assisted by the high-level official responsible              e. Conduct actions that violate ethics and/or
     for legal affairs, Assistant Deputies, and Sector Assistant                propriety that should be valued by member;
     Deputies.                                                              f. Is declared guilty by the Court’s decision with
 13. After the delivery of the Decision Letter is carried out,                  permanent legal force;
     all documents are handed over to the Deputy for                        g. Resigns;
     administration.                                                        h. Other reasons deemed appropriate by the GMS
 14. In the event the appointment will be determined in the                     for the interests and objectives of the Company.
     GMS, the submission of the UKK results to the Minister
     is accompanied by a letter of appointment for the
     candidate and a power of attorney to attend and
     make decisions in the GMS.
 15. After the GMS is held, all documents related to the
     appointment of SOE Board of Directors members are
     handed over to the Deputy for administration.




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      3. The dismissal by the reasons aforementioned is                   f. No longer fulfilling the requirements as a member
          conducted after the person(s) concerned in the event                 of the Board of Directors based on the provisions of
          of dismissal is given the opportunity to raise defense,              the Articles of Association and the applicable laws.
          excluding the dismissal specified in the provisions of      13. For the member of the Board of Directors dismissed
          points f and g.                                                 before or after the term of office, unless unable to
      4. The dismissal due to reasons as referred to in point             resume the position due to passing, the concerned
          letter d and f are considered dishonorable discharge.           member shall therefore be held responsible for their
      5. Among the Board of Director’s members and between                actions that have been rejected by the GMS;
          the Board of Directors’ members and the Board of            14. The Board of Director’s members may at any time be
          Commissioners’ members, there shall not be any blood            temporarily dismissed by the Board of Commissioners
          relationship of three generations, either vertical or           if they conduct actions contrary to the Articles of
          horizontal in the family tree, including the familial           Association or there are indications of actions that
          relationship arising from marriage.                             harm the Company or neglect the obligations or there
      6. In the event that such condition prevails, the GMS has           are crucial explanations for the Company, by paying
          the authority to dismiss one of the members.                    attention to the following provisions:
      7. A member for the Board of Directors may resign from              a. Temporary dismissal shall be notified in written to
          his/her position before his/her term of office expires.              the said member along with the rationale, then
          In the event that a member of the Board of Directors                 forwarded to the Board of Directors;
          resigns, the said member shall submit a written request         b. The notification as referred to in the letter “a” shall
          for resignation to the Company.                                      be submitted no later than 2 (two) working days
      8. The Company must hold the GMS to decide on the                        after the temporary dismissal is effective;
          resignation request of a member of the Board of                 c. The member who is subject to temporarily dismissal
          Directors no later than 90 (ninety) days after receiving             has no authority to conduct the Company’s
          the letter of resignation.                                           management for the sake of the Company in
      9. The Company is obliged to provide information                         relation with the purposes and objectives of the
          transparency to the public and submit it to the                      Company or to represent the Company either
          Financial Service Authority no later than 2 (two) working            within or outside the Court;
          days after:                                                     d. Within a period of at most 90 (ninety) days after the
          a. The approval of the resignation application from                  temporary dismissal has been done, the Board of
               a member of the Board of Directors.                             Commissioners shall organize the GMS to revoke
          b. The achievement of the GMS results.                               or reinforce the temporary dismissal;
      10. Before the resignation is effective, the concerned              e. With the lapse of the period of holding the GMS
          member of the Board of Directors shall assume                        as referred to in letter d or the GMS is unable to
          responsibility to complete the duties and the                        make a decision, the temporary dismissal will be
          responsibilities in accordance with the Articles of                  cancelled;
          Association and the applicable laws.                            f. The limitation of authority as stated in point c shall
      11. The resigning member will be released from any                       be effective since the effective date of temporary
          responsibility after obtaining discharge of duty from                dismissal by the Board of Commissioners until:
          the annual GMS.                                                      • there is a decision of the GMS which reinforces
      12. A member of the Board of Directors is dismissed if:                      or revokes the temporary dismissal in letter d; or
          a. The resignation has been in effect;                               • the due date as stated in letter d has passed.
          b. Passed away;
          c. The tenure has expired;
          d. Dismissed by the decision of GMS;
          e. Declared bankrupt by a Commercial Court which
               has a permanent legal force or under the auspices
               based on a Court’s decision; or




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    g. In the GMS as referred to in letter d, the member             inform in writing regarding his/her intention to the Bank,
       of concerned shall be given an opportunity to                 and the Bank shall convene the GMS to take decision
       raise defenses;                                               on the resignation of a member of the Board of Directors
    h. Temporary dismissal cannot be extended or re-                 within 90 days after the acceptance of the resignation.
       established by the same rationale if the temporary
       dismissal is declared void as referred to in letter e;
    i. In the event that the GMS revokes the temporary               MANAGEMENT OF THE BOARD OF
       dismissal or circumstances as referred to in letter           DIRECTORS CONFLICT OF INTEREST
       e prevail, the concerned member shall remain to
       perform his/her tasks;                                        Management of the Board of Directors conflict of
    j. If the GMS outcome reinforces the decision of the             interest is specified in Bank Mandiri Policy Architecture.
       temporary dismissal, then the member is dismissed             Bank Mandiri Policy Architecture is a policy hierarchy/
       permanently;                                                  structure functioning as a framework and guidelines in
    k. If the member who is subjected to temporary                   policy preparation and implementation of Bank activity.
       dismissal does not attend the GMS after being                 The Management of the Board of Directors conflict of
       summoned in written, the member shall be                      interest is as follows:
       considered to have neglected his/her rights to                1. The Board of Commissioners, the Board of Directors,
       defend himself/herself in the GMS and agree to                    and Executives shall commit to prevent any forms of
       the GMS decision.                                                 conflict of interest.
    l. The Company is obliged to conduct information                 2. In the event that the Board of Directors member(s)
       transparency to the public and submit it to the                   has a personal Interests in a transaction, contract or
       Financial Services Authority regarding:                           contracts proposed in which one of the parties is the
       • The decision of temporary dismissal; and                        Bank, the interest shall be mentioned in the Board
       • The results of GMS either to revoke or reinforce                of Directors Meeting and the concerned Board of
            the temporary dismissal decision as referred to              Directors member has no authority to take a vote.
            in letter “d”, or any information regarding the          3. Periodically, at least 1 (once) in a year, every member
            cancellation of the temporary dismissal by the               of the Board of Commissioners, the Board of Directors
            Board of Commissioners due to the absence                    and the Executives are required to make a statement
            of the GMS until the due date as referred to                 regarding conflict of interests with the Bank activities.
            in letter e of this article, no later than 2 (two)       4. Members of the Board of Commissioners, the Board
            working days from such happening.                            of Directors and the Executives are prohibited from
                                                                         having concurrent positions as specified in the
                                                                         applicable regulations.
 POLICIES RELATED TO THE
 RESIGNATION OF THE BOARD OF                                         ORIENTATION PROGRAM FOR THE
 DIRECTORS’ MEMBERS DUE TO THEIR                                     NEW BOARD OF DIRECTORS
 INVOLVEMENT IN FINANCIAL CRIMES
                                                                     Orientation Program is held by the Company for new
 Bank Mandiri has in place the policy on resignation                 members of the Board of Directors in order to provide an
 of member of the Board of Directors when involved                   understanding of amongst others:
 in financial crime as stated in the Bank’s Articles of              1. The Company’s strategy, policy and work plan.
 Association.                                                        2. The Company’s values, vision and mission.
                                                                     3. The duties, responsibilities and authorities of the Board
 Referring to the Article 14 paragraph (26) letter f of the             of Directors pursuant to the Articles of Association and
 Bank’s Articles of Association, the tenure of member                   the prevailing regulation in Indonesia.
 of the Board of Directors is ended if no longer meet                4. Policies related with Good Corporate Governance.
 the requirements as member of the Board of Directors                5. Facility to support the implementation of duties of the
 based on the Articles of Association and other laws and                Board of Directors.
 regulations, including involvement in financial crime.              6. Other relevant programs.
 In the event that a member of the Board of Directors
 is resigning including if involved in the financial crime,
 thus a concerned member of the Board of Directors shall




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      Orientation program for the new Board of Directors is coordinated by the Corporate Secretary. In 2023, orientation
      programs had been held for new Director with the following details:

            Name                    Position                             Material                           Material Provider                    Date
      Eka Fitria           Director of Treasury &       Meeting for Treasury & International     1. Treasury Group                        21 March 2023
                           International Banking        Banking                                  2. Transaction Banking Wholesale Group
                                                                                                 3. Strategic Procurement Group
                                                                                                 4. International Banking & FI Group
                                                                                                 5. Office of Chief Economist Group
                                                                                                 6. Bank Mandiri Cayman Island Branch
                                                                                                 7. Bank Mandiri Singapore Branch
                                                                                                 8. Bank Mandiri Shanghai Branch
                                                                                                 9. Bank Mandiri Hong Kong Branch
                                                                                                 10. Bank Mandiri Dili Branch
                                                                                                 11. Bank Mandiri (Europe) Limited
                                                                                                 12. Mandiri International Remittance
                                                        Mandiri Institute                        Office of Chief Economist Group          28 February 2023
                                                        Meeting for Treasury & International     1. Treasury Group                        29 March 2023
                                                        Banking                                  2. Transaction Banking Wholesale Group
                                                                                                 3. Strategic Procurement Group
                                                                                                 4. International Banking & FI Group
                                                                                                 5. Office of Chief Economist Group
                                                                                                 6. Bank Mandiri Cayman Island Branch
                                                                                                 7. Bank Mandiri Singapore Branch
                                                                                                 8. Bank Mandiri Shanghai Branch
                                                                                                 9. Bank Mandiri Hong Kong Branch
                                                                                                 10. Bank Mandiri Dili Branch
                                                                                                 11. Bank Mandiri (Europe) Limited
                                                                                                 12. Mandiri International Remittance
                                                        Region XII Coaching Discussion           Director of Technology & Information     11 April 2023
                                                        Rapat Bidang Treasury & International    1. Treasury Group                        12 April 2023
                                                        Banking                                  2. Transaction Banking Wholesale Group
                                                                                                 3. Strategic Procurement Group
                                                                                                 4. International Banking & FI Group
                                                                                                 5. Office of Chief Economist Group
                                                                                                 6. Bank Mandiri Cayman Island Branch
                                                                                                 7. Bank Mandiri Singapore Branch
                                                                                                 8. Bank Mandiri Shanghai Branch
                                                                                                 9. Bank Mandiri Hong Kong Branch
                                                                                                 10. Bank Mandiri Dili Branch
                                                                                                 11. Bank Mandiri (Europe) Limited
                                                                                                 12. Mandiri International Remittance
                                                        Strategic Meeting Strategic              Strategic Procurement Group              13 April 2023
                                                        Procurement Group
                                                        Strategic Meeting International Banking International Banking & FI Group          27 April 2023
                                                        & FI Group
                                                        Strategic Meeting Office of Chief        Office of Chief Economist Group          5 April 2023
                                                        Economist Group
                                                        Strategic Meeting Treasury Group         Treasury Group                           8 May 2023
                                                        Region XII Coaching Discussion           RCEO Region XII                          9 Juni 2023
                                                        Transaction Banking Wholesale Forum      Transaction Banking Wholesale Group      25 Agustus 2023
                                                        Workshop Strategic Procurement           Strategic Procurement Group              21 November 2023
                                                        Group
       *) Appointed as Director at the Annual GMS dated 14 March 2023.




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 RISK MANAGEMENT CERTIFICATION

 As stipulated in Financial Services Authority Circular No. 28/SEOJK.03/2022 concerning Risk Management Certification for
 Commercial Bank Human Resources, Bank Management (Board of Commissioners and Board of Directors) must have
 a Risk Management Certificate issued by a Professional Certification Body, with the following classification:

  No.                                           Position                                                    Level                      Validity
 1.     Commissioner                                                                            Minimum Level 1              4 years
 2.     Independent Commissioner                                                                Minimum Level 2              4 years
 3.     President Director and Directors of the Bank with assets > Rp10 trillion                5                            2 years


 After the certificate expires, a mandatory Refreshment Program must be taken regularly, at least:
 1. once every year for certificate levels 1 and 2; or
 2. once every year for certificate levels 3, 4, and 5.

 In Bank Mandiri, as a bank with a total asset of > Rp10 Trillion, the entire members of its Board of Directors are holders of
 Risk Management Certificate Level 5. This certification is also part of OJK’s fit and proper test requirements. The certificates
 of the Board of Directors are as follows.

                                                                                                                        Date the
                                       Institutions issuing
      Name            Position                                    Level                     Field/Area                  certificate      Expiry Date
                                           certificates
                                                                                                                        was issued
 Darmawan       President Director     Banking Profession     Level 5          Banking Risk Management                3 February       7 October
 Junaidi                               Certification                                                                  2021             2023
                                       Institute (LSPP)
                                       Banking Profession     Refreshment      Risk Management: Risk Management       5 August 2021    5 August 2023
                                                                               Certification Refresher Program:
                                                                               COVID Loan Restructuring After
                                                                               Implementation of POJK 48 2020
                                       Banking Profession     Refreshment      Risk Management Certification          29 September     29 September
                                       Certification                           Refreshment                            2023             2024
                                       Institution (LSPP)
 Alexandra      Vice President         Banking Profession     Level 5          Banking Risk Management                21 May 2018      21 May 2020
 Askandar       Director               Certification
                                       Institute (LSPP)
                                       BARa Risk Forum        Refreshment      Risk Management: Application of        23 March 2022    23 March 2024
                                                                               Basel II Reform Basel IV for ATMR
                                                                               Calculation on Credit Risk
                                       Banking Profession     Refreshment      Risk Management Certification          29 September     29 September
                                       Certification                           Refreshment                            2023             2024
                                       Institution (LSPP)
 Ahmad Siddik Director of Risk         Banking Profession     Level 5          Banking Risk Management                11 April 2015    11 April 2017
 Badruddin    Management               Certification
                                       Institute (LSPP)
                                       BARa Risk Forum        Refreshment      Refreshment of Risk Management in      21 September     21 September
                                                                               Stockholm                              2016             2018
                                       BARa Risk Forum        Refreshment      Refreshment at Prague 17 – 18          17 October       18 October
                                                                               October 2017                           2017             2019
                                       BARa Risk Forum        Refreshment      Risk Management Refreshment            19 March 2018    19 March 2020
                                       BARa Risk Forum        Refreshment      Risk Management Refreshment            13 July 2018     13 July 2020
                                       BARa Risk Forum        Refreshment      Risk Management Refreshment            13 March 2020    13 March 2022
                                       BARa Risk Forum        Refreshment      Loan COVID Restructuring after         8 May 2021       8 May 2023
                                                                               Implementation of POJK 48 2020
                                       BARa Risk Forum        Refreshment      ERM and Cyber Security : How to        26 July 2023     26 July 2024
                                                                               mitigate and Protect
 Agus Dwi       Director of            Banking Profession     Level 5          Banking Risk Management                9 May 2022       2 May 2024
 Handaya        Compliance             Certification
                and HR                 Institute (LSPP)
                                       BARa Risk Forum        Refreshment      Risk Management Certification          12 – 13 March    12 – 13 March
                                                                               Refreshment Program – Embedding        2020             2022
                                                                               Sustainability Programs into Banks’
                                                                               Business Model
                                       LPPI                   Refreshment      Risk Management Certification          29 November      29 November
                                                                               Refreshment Level 7                    2023             2024


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                                                                                                                          Date the
                                         Institutions issuing
          Name             Position                                 Level                   Field/Area                    certificate     Expiry Date
                                             certificates
                                                                                                                          was issued
      Riduan         Director of         Banking Profession     Level 5       Banking Risk Management                   18 February      18 February
                     Commercial          Certification                                                                  2013             2021
                     Banking             Institute (LSPP)
                                                                                                                        9 February       18 February
                                                                                                                        2021             2023
                                         ASTA Consulting        Refreshment   Managing the Commercial Credit in
                                                                                                                        6 January 2023   6 January 2024
                                                                              facing the 2023 Recession Potential
                                         BARa Risk Forum        Refreshment   Indonesian Banking in Supporting
                                                                                                                        7 December       7 December
                                         (2023)                               Indonesia Towards a Low Carbon
                                                                                                                        2023             2024
                                                                              Economy
      Aquarius       Director of Network Banking Profession     Level 5       Banking Risk Management                   13 May 2020      13 May 2022
      Rudianto       and Retail Banking Certification
                                         Institute (LSPP)
                                         Banking Profession     Level 5       Banking Risk Management                   21 April 2022    21 April 2024
                                         Certification
                                         Institute (LSPP)
                                         BARa Risk Forum        Refreshment   Indonesian Banking in Supporting          7 December       7 December
                                                                              Indonesia Towards a Low Carbon            2023             2024
                                                                              Economy
      Toni E. B.     Director of         Banking Profession     Level 5       Banking Risk Management                   23 October       17 June 2021
      Subari         Operations          Certification                                                                  2019
                                         Institute (LSPP)
                                                                                                                        28 June 2021     17 June 2023
                                         Banking Profession     Refreshment   Risk Management Training level 7          29 November      29 November
                                         Certification                                                                  2023             2024
                                         Institute (LSPP)
      Susana Indah Director of       Banking Profession         Level 5       Banking Risk Management                   25 November      25 November
      K. Indriarti Corporate Banking Certification                                                                      2020             2022
                                     Institute (LSPP)
                                         ASTA Consulting        Level 5       Risk Management -New Moves                16 February      16 February
                                                                              Empower Governance, Risk &                2022             2024
                                                                              Compliance (GRC) and Risk Appetite
                                                                              Statement (RAS) During the Pandemic
      Rohan Hafas    Director of         Banking Profession     Level 5       Banking Risk Management                   25 November      25 November
                     Institutional       Certification                                                                  2020             2022
                     Relations           Institute (LSPP)
                                         Maisa Citra            Refreshment   Banking Risk Management                   21 July 2022     21 July 2024
                                         Pendidikan
      Sigit Prastowo Director of Finance Banking Profession     Level 5       Banking Risk Management                   24 June 2015     24 June 2017
                     and Strategy        Certification
                                                                Refreshment   Banking Risk Management                   14 March 2017    14 March 2019
                                         Institution (LSPP)
                                                                              Refreshment – Risk Management in
                                                                              Current Liquidity Tight Conditions
                                                                Refreshment   Banking Risk Management                   2 May 2019       2 May 2021
                                                                              Refreshment – Cyber Security
                                                                              Awareness in Industry 4.0
                                         Indonesian Banker      Refreshment   Banking Risk Management                   21 July 2020     21 July 2022
                                         Association                          Refreshment – Implementation of
                                                                              Operational Risk Management in the
                                                                              Covid-19 Period
                                         Banking Profession     Refreshment   Banking Risk Management                   24 February      24 June 2023
                                         Certification                                                                  2021
                                         Institute (LSPP)
                                         Maisa Citra Edukasi Refreshment      The Importance of Cyber Security
                                                                                                          ​​      in    22 February      22 February
                                                                              Bank Digitalization and Its Relation to   2023             2024
                                                                              Operational Risk
      Timothy        Director of         Banking Profession     Level 5       Banking Risk Management                   Aug 1, 2018      13 July 2020
      Utama          Information         Certification
                     Technology          Institute (LSPP)       Refreshment   Risk Management Certification             13 July 2020     13 July 2022
                                                                              Refreshment Program –
                                                                              Implementation of Governance, Risk,
                                                                              Compliance (GRC) in Banking for
                                                                              Indonesia Context
                                         Maisa Citra            Refreshment   Banking Risk Management                   21 April 2022    21 April 2024
                                         Pendidikan




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                                                                                                                         BOARD OF DIRECTORS



                                                                                                                                  Date the
                                              Institutions issuing
       Name                   Position                                     Level                      Field/Area                  certificate     Expiry Date
                                                  certificates
                                                                                                                                  was issued
 Eka Fitria*)        Director of Treasury LPPI                        Provision          Risk Management Providing Program       22 June 2023   22 June 2024
                     and International                                                   for Prospective Members of the Board
                     Banking                                                             of Directors
  *) Appointed as Director at the Annual GMS dated 14 March 2023.




 SHAREHOLDING OF THE BOARD OF DIRECTORS

 The Board of Directors has disclosed its share ownership in both Bank Mandiri and other banks and other companies
 domiciled inside or outside the country. Share ownership of the Board of Directors of Bank Mandiri can be seen in the
 table below.

                                                                     Board of Directors Shareholding
                                                                                                               Stock Ownership
                                                                                       Bank Mandiri
  No.             Name                            Position                                                      Other     Non-Bank Financial        Other
                                                                                  Number of        (%)          Bank          Institution         Companies
                                                                                   Shares        Ownership
  1.      Darmawan Junaidi           President Director                              6,762,300    0,0072453%       Nil              Nil                 Nil
  2.      Alexandra                  Vice President Director                         7,425,200    0,0079556%       Nil              Nil                 Nil
          Askandar
 3.       Ahmad Siddik               Director of Risk Management                     8,715,900    0,0093385%       Nil              Nil                 Nil
          Badruddin
 4.       Agus Dwi Handaya           Director of Compliance and HR                   6,755,100    0,0072376%       Nil              Nil                 Nil
 5.       Eka Fitria*)              Director of Treasury & International              170,000     0,0001821%       Nil              Nil                 Nil
                                    Banking
 6.       Riduan                    Director of Commercial Banking                   7,000,000    0,0075000%       Nil              Nil                 Nil
 7.       Aquarius Rudianto         Director of Network & Retail                     4,137,300    0,0044328%       Nil              Nil                 Nil
                                    Banking
 8.       Toni E. B. Subari         Director of Operation                            3,117,500    0,0033402%       Nil              Nil                 Nil
 9.       Susana Indah K.           Director of Corporate Banking                    4,438,400    0,0047554%       Nil              Nil                 Nil
          Indriati
 10.      Rohan Hafas               Director of Institutional Relations              3,000,500    0,0032148%       Nil              Nil                 Nil
 11.      Sigit Prastowo            Director of Finance & Strategies                 6,305,100    0,0067555%       Nil              Nil                 Nil
 12.      Timothy Utama             Director of Information                          3,621,900    0,0038806%       Nil              Nil                 Nil
                                    Technology

  Total                                                                           61,449,200     0,0658384%
  *) Appointed as Director at the Annual GMS dated 14 March 2023.



 AFFILIATIONS OF THE BOARD OF DIRECTORS
 Affiliation shall mean relationship between the Board of Directors, Board of Commissioners and Main/Controlling
 Shareholders of the Company, either in the form of:
 1. Family relationship due to marriage and descent to the second degree either horizontal or vertical.
 2. Management or oversight relationship with Main/ Controlling Shareholder.
 3. Share ownership by each member of the Board of Directors and Board of Commissioners to the Main/Controlling
     Shareholders as legal entity.

 The Board of Directors of Bank Mandiri have no financial relations, management relations, shareholding and/or family
 relations with other members of the Board of Commissioners, the Board of Directors and/or Controlling Shareholders or
 relation with the Bank, which helps in carrying out their tasks and responsibility independently.

 The affiliations of the Board of Directors are shown in the following table:




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                                                                    Affiliations of The Board of Directors
                                                                                    Financial, Family, and Management Relations of the BOD
                                                                    Financial Relations With                       Family Relations With
                                                                                                                                                    Management
            Name                     Position                                            Controlling                              Controlling
                                                            BOC           BOD                             BOC          BOD                           Relations
                                                                                        Shareholders                             Shareholders
                                                          Yes    No      Yes   No      Yes        No     Yes   No    Yes   No     Yes          No   Yes       No
      Darmawan              President Director                  √              √              √                √           √               √              √
      Junaidi
      Alexandra             Vice President DIrector             √              √              √                √           √               √              √
      Askandar
      Ahmad Siddik          Director of Risk                    √              √              √                √           √               √              √
      Badruddin             Management
      Agus Dwi              Director of Information             √              √              √                √           √               √              √
      Handaya               Technology
      Eka Fitria*)          Director of Compliance              √              √              √                √           √               √              √
                            and HR
      Riduan                Director of Commercial              √              √              √                √           √               √              √
                            Banking
      Aquarius              Director of Network and             √              √              √                √           √               √              √
      Rudianto              Retail Banking
      Toni E. B. Subari     Director of Operations              √              √              √                √           √               √              √
      Susana Indah K.       Director of Corporate               √              √              √                √           √               √              √
      Indriarti             Banking
      Rohan Hafas           Direktur Hubungan                   √              √              √                √           √               √              √
                            Kelembagaan
      Sigit Prastowo        Director of Finance and             √              √              √                √           √               √              √
                            Strategies
      Timothy Utama         Director of Information             √              √              √                √           √               √              √
                            Technology
       *) Appointed as Director at the Annual GMS dated 14 March 2023.



      BOARD OF DIRECTORS MEETINGS

      The policy of the Board of Directors Meeting refers to the BOD Charter, the Articles of Association and POJK 33/2014,
      whereby the Board of Directors Meeting shall be conducted periodically at least once a month, or at any time as
      necessary as requested by one or more members of the Board of Directors, or as per written request from the Board
      of Commissioners. The Board of Directors shall also hold a joint meeting with the Board of Commissioners periodically
      in at least 1 (once) in 4 (four) months.



      The Board of Directors Meetings are legal and have the right to make binding decisions when attended or represented
      by more than 2/3 of members of the Board of Directors. The meeting material shall be delivered to all participants 5
      (five) working days prior to the meeting.

      The Board of Directors Meeting is chaired by the President Director, and in the event that the President Director is unable
      to attend, the Board of Directors Meeting is chaired by the Substitute Director of the President Director, namely the
      Vice President Director. In the event that the Vice President Director is unable to attend, the Board of Directors Meeting
      shall be chaired by the Substitute Director of the two President Directors appointed based on the Board of Directors’
      Decision on Alternate Directors.




660   PT Bank Mandiri (Persero) Tbk
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GOVERNANCE                        & PRACTICES                                   RESPONSIBILITY                               STATEMENTS 2023




                                                                                                                 BOARD OF DIRECTORS



 In the event that the President Director and Substitute Director of the President Director are unable to attend, then one
 of the longest-serving Directors as a member of the Board of Directors presides over the Board of Directors Meeting. In
 the event that the Director who has served the longest as a member of the Board of Directors of the Company is more
 than 1 (one) person, the oldest Director in age acts as the chairman of the Meeting of the Board of Directors.

 Board of Director Meetings Plan
 The Board of Director meetings plan for 2023 as uploaded on the Bank Mandiri website are as follows:

                         Monthly/quarterly review of the Company and Subsidiaries’ performance.
                         Monthly/quarterly review of the Company’s Strategy and Work Plan.
       Quarter I         Preparation of the Annual General Meeting of Shareholders.
                         Review and approval of the Audit Financial Statements Fiscal Year 2022.
                         Selection of External Auditor for Fiscal Year 2023.
                         Monthly/quarterly review of the Company and Subsidiaries’ performance.
       Quarter II        Monthly/quarterly review of the Company’s Strategy and Work Plan.
                         Discussion and Approval of RKAP (Work & Budget Plan) 2023 Revision & RBB (Bank Business Plan) 2023-2025 Revision.
                         Monthly/quarterly review of the Company and Subsidiaries’ performance.
       Quarter III
                         Monthly/quarterly review of the Company’s Strategy and Work Plan.
                         Monthly/quarterly review of the Company and Subsidiaries’ performance.
                         Monthly/quarterly review of the Company’s Strategy and Work Plan.
       Quarter IV
                         Discussion and Approval of the Sustainable Financial Action Plan (RAKB) and Recovery Plan.
                         Discussion and Approval of RKAP (Work & Budget Plan) 2024 & RBB (Bank Business Plan) 2024-2026.


 Board of Directors Meetings Implementation
 The following are agenda, date and participants of the Director’s Meeting in 2023.

 Board of Directors Meetings Agenda
                                                                                                                                      Reasons for
  No           Date                           Agenda Rapat                                Meeting Participants    Presence
                                                                                                                                       Absence
   1    3 January 2023       1.   General Discussion: Update on the Company's       Darmawan Junaidi               Present
                                  Latest Development
                             2.   Proposal for Annual GMS for Financial Year 2022   Alexandra Askandar             Absent              On Leave

                                                                                    Ahmad Siddik Badruddin         Present

                                                                                    Agus Dwi Handaya               Present

                                                                                    Panji Irawan                   Present

                                                                                    Riduan                         Present

                                                                                    Aquarius Rudianto              Present

                                                                                    Toni Eko Boy Subari            Present

                                                                                    Susana Indah K. Indriati       Present

                                                                                    Rohan Hafas                    Present

                                                                                    Sigit Prastovo                 Present

                                                                                    Timothy Utama                  Present




                                                                                                                              ANNUAL REPORT 2023    661
Page 155
            MAIN                              MANAGEMENT                                       COMPANY                       MANAGEMENT DISCUSSION
            HIGHLIGHTS                        REPORT                                           PROFILE                       AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                                    Reasons for
       No          Date                         Agenda Rapat                               Meeting Participants   Presence
                                                                                                                                     Absence
        2   16 January 2023   1.   General Discussion:                               Darmawan Junaidi              Present
                                   a. Update on the Company's Latest
                                         Development                                 Alexandra Askandar            Present
                                   b. Update on Office of Chief Economist
                              2.   Update on Operations
                              3.   Update on Stress Testing Bank Mandiri Quarter
                                   III 2022

                                                                                     Ahmad Siddik Badruddin        Present

                                                                                     Agus Dwi Handaya              Present

                                                                                     Panji Irawan                  Present

                                                                                     Riduan                        Present

                                                                                     Aquarius Rudianto             Present

                                                                                     Toni Eko Boy Subari           Absent            On Leave

                                                                                     Susana Indah K. Indriati      Present

                                                                                     Rohan Hafas                   Present

                                                                                     Sigit Prastovo                Absent            On Leave

                                                                                     Timothy Utama                 Present

        3   24 January 2023   1.   General Discussion: Update on the Company's       Darmawan Junaidi              Present
                                   Latest Development
                              2.   Financial Performance December 2022               Alexandra Askandar            Present
                              3.   Consolidated Financial Statements of PT Bank
                                   Mandiri (Persero) Tbk. and Subsidiaries for the   Ahmad Siddik Badruddin        Present
                                   Year Ended December 31, 2022 (Audited)
                                                                                     Agus Dwi Handaya              Present
                              4.   Procurement of Bank Mandiri's External Auditor
                                   (KAP) in 2023                                     Panji Irawan                  Present

                                                                                     Riduan                        Present

                                                                                     Aquarius Rudianto             Present

                                                                                     Toni Eko Boy Subari           Present

                                                                                     Susana Indah K. Indriati      Present

                                                                                     Rohan Hafas                   Present

                                                                                     Sigit Prastovo                Present

                                                                                     Timothy Utama                 Present

        4   24 January 2023   1.   Update on Stress Testing Bank Mandiri Quarter     Darmawan Junaidi              Present
                                   III 2022
                              2.   Financial Performance December 2022               Alexandra Askandar            Present

                                                                                     Ahmad Siddik Badruddin        Present

                                                                                     Agus Dwi Handaya              Present

                                                                                     Panji Irawan                  Present

                                                                                     Riduan                        Present

                                                                                     Aquarius Rudianto             Present

                                                                                     Toni Eko Boy Subari           Present

                                                                                     Susana Indah K. Indriati      Present

                                                                                     Rohan Hafas                   Present

                                                                                     Sigit Prastovo                Present

                                                                                     Timothy Utama                 Present

        5   30 January 2023   1.   General Discussion:                               Darmawan Junaidi              Present
                                   a. Update on the Company's Latest
                                       Development                                   Alexandra Askandar            Present
                                   b. Update on Office of Chief Economist
                                   c. Digital Platform Development Update            Ahmad Siddik Badruddin        Present
                              2.   Preparation for Public Expose & Analyst Meeting
                                                                                     Agus Dwi Handaya              Present
                                   Q4 2022
                                                                                     Panji Irawan                  Present

                                                                                     Riduan                        Present

                                                                                     Aquarius Rudianto             Present

                                                                                     Toni Eko Boy Subari           Present

                                                                                     Susana Indah K. Indriati      Present

                                                                                     Rohan Hafas                   Present

                                                                                     Sigit Prastovo                Present

                                                                                     Timothy Utama                 Present




662   PT Bank Mandiri (Persero) Tbk
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CORPORATE                      ESG COMMITMENTS                               SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                     & PRACTICES                                   RESPONSIBILITY                             STATEMENTS 2023




                                                                                                            BOARD OF DIRECTORS


                                                                                                                                 Reasons for
  No          Date                        Agenda Rapat                               Meeting Participants    Presence
                                                                                                                                  Absence
   6   6 February 2023    1.   Human Capital Proposal                          Darmawan Junaidi               Present

                                                                               Alexandra Askandar             Present

                                                                               Ahmad Siddik Badruddin         Present

                                                                               Agus Dwi Handaya               Present

                                                                               Panji Irawan                   Present

                                                                               Riduan                         Absent              On Leave

                                                                               Aquarius Rudianto              Absent              On Leave

                                                                               Toni Eko Boy Subari            Present

                                                                               Susana Indah K. Indriati       Present

                                                                               Rohan Hafas                    Absent              On Leave

                                                                               Sigit Prastovo                 Present

                                                                               Timothy Utama                  Present

   7   13 February 2023   1.   General Discussion:                             Darmawan Junaidi               Present
                               a. Update on the Company's Latest
                                  Development                                  Alexandra Askandar             Present
                               b. Digital Platform Development Update
                          2.   Human Capital Proposal                          Ahmad Siddik Badruddin         Present

                                                                               Agus Dwi Handaya               Present

                                                                               Panji Irawan                   Present

                                                                               Riduan                         Present

                                                                               Aquarius Rudianto              Absent              On Leave

                                                                               Toni Eko Boy Subari            Present

                                                                               Susana Indah K. Indriati       Present

                                                                               Rohan Hafas                    Present

                                                                               Sigit Prastovo                 Present

                                                                               Timothy Utama                  Present

   8   20 February 2023   1.   General Discussion: Update on the Company's     Darmawan Junaidi               Present
                               Latest Development
                          2.   Financial Performance January 2023              Alexandra Askandar             Present
                          3.   Human Capital Proposal
                                                                               Ahmad Siddik Badruddin         Present

                                                                               Agus Dwi Handaya               Present

                                                                               Panji Irawan                   Present

                                                                               Riduan                         Present

                                                                               Aquarius Rudianto              Present

                                                                               Toni Eko Boy Subari            Present

                                                                               Susana Indah K. Indriati       Present

                                                                               Rohan Hafas                    Present

                                                                               Sigit Prastovo                 Present

                                                                               Timothy Utama                  Present

   9   6 March 2023       1.   General Discussion: Update on the Company's     Darmawan Junaidi               Present
                               Latest Development
                          2.   Recovery Plan Proposal                          Alexandra Askandar             Present
                          3.   Proposed Resolution of the 2023 Annual GMS
                          4.   Human Capital Proposal                          Ahmad Siddik Badruddin         Present
                          5.   SISM Proposal
                                                                               Agus Dwi Handaya               Present

                                                                               Panji Irawan                   Present

                                                                               Riduan                         Present

                                                                               Aquarius Rudianto              Present

                                                                               Toni Eko Boy Subari            Present

                                                                               Susana Indah K. Indriati       Present

                                                                               Rohan Hafas                    Present

                                                                               Sigit Prastovo                 Present

                                                                               Timothy Utama                  Present




                                                                                                                         ANNUAL REPORT 2023    663
Page 157
            MAIN                            MANAGEMENT                                   COMPANY                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                      REPORT                                       PROFILE                   AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                          Reasons for
       No           Date                     Agenda Rapat                        Meeting Participants   Presence
                                                                                                                           Absence
       10   13 March 2023    1.   General Discussion:                      Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                      Development                          Alexandra Askandar            Present
                                  b. Update on Transformation Project
                                  c. Digital Platform Proposal             Ahmad Siddik Badruddin        Present
                             2.   Financial Performance February 2023
                                                                           Agus Dwi Handaya              Present
                             3.   Update on Distribution Strategy
                                                                           Panji Irawan                  Present

                                                                           Riduan                        Present

                                                                           Aquarius Rudianto             Present

                                                                           Toni Eko Boy Subari           Present

                                                                           Susana Indah K. Indriati      Present

                                                                           Rohan Hafas                   Present

                                                                           Sigit Prastovo                Present

                                                                           Timothy Utama                 Present

       11   20 March 2023    1.   General Discussion:                      Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                     Development                           Alexandra Askandar            Present
                                  b. Follow-up to Annual GMS Decision
                                  c. Digital Platform Development Update   Ahmad Siddik Badruddin        Present
                             2.   Update on Market Risk
                                                                           Agus Dwi Handaya              Present

                                                                           Riduan                        Present

                                                                           Aquarius Rudianto             Present

                                                                           Toni Eko Boy Subari           Present

                                                                           Susana Indah K. Indriati      Present

                                                                           Rohan Hafas                   Present

                                                                           Sigit Prastovo                Present

                                                                           Timothy Utama                 Present

                                                                           Eka Fitria*                   Present

       12   27 March 2023    1.   General Discussion:                      Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                       Development                         Alexandra Askandar            Present
                                  b. Update on Transformation Project
                             2.   IBFI Update                              Ahmad Siddik Badruddin        Present
                             3.   Human Capital Proposal
                                                                           Agus Dwi Handaya              Present

                                                                           Riduan                        Present

                                                                           Aquarius Rudianto             Present

                                                                           Toni Eko Boy Subari           Present

                                                                           Susana Indah K. Indriati      Present

                                                                           Rohan Hafas                   Present

                                                                           Sigit Prastovo                Present

                                                                           Timothy Utama                 Present

                                                                           Eka Fitria*                   Present

       13   3 April 2023     1.   General Discussion:                      Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                     Development                           Alexandra Askandar            Present
                                  b. Digital Platform Development Update
                             2.   Human Capital Proposal                   Ahmad Siddik Badruddin        Present

                                                                           Agus Dwi Handaya              Present

                                                                           Riduan                        Present

                                                                           Aquarius Rudianto             Present

                                                                           Toni Eko Boy Subari           Present

                                                                           Susana Indah K. Indriati      Present

                                                                           Rohan Hafas                   Present

                                                                           Sigit Prastovo                Present

                                                                           Timothy Utama                 Present

                                                                           Eka Fitria*                   Absent           Business Trip




664   PT Bank Mandiri (Persero) Tbk
Page 158
CORPORATE                   ESG COMMITMENTS                                SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                  & PRACTICES                                    RESPONSIBILITY                             STATEMENTS 2023




                                                                                                          BOARD OF DIRECTORS


                                                                                                                               Reasons for
  No           Date                     Agenda Rapat                               Meeting Participants    Presence
                                                                                                                                Absence
  14   10 April 2023   1.   General Discussion:                              Darmawan Junaidi               Present
                            a. Update on the Company's Latest
                                 Development                                 Alexandra Askandar             Present
                            b. Update on Transformation Project
                       2.   IT & Operational System Preparation Ahead of     Ahmad Siddik Badruddin         Present
                            Eid Al-Fitr 1444 H
                                                                             Agus Dwi Handaya               Present
                       3.   Human Capital Proposal
                                                                             Riduan                         Present

                                                                             Aquarius Rudianto              Present

                                                                             Toni Eko Boy Subari            Present

                                                                             Susana Indah K. Indriati       Present

                                                                             Rohan Hafas                    Present

                                                                             Sigit Prastovo                 Present

                                                                             Timothy Utama                  Present

                                                                             Eka Fitria*                    Present

  15   17 April 2023   1.   General Discussion:                              Darmawan Junaidi               Present
                            a. Update on the Company's Latest
                                Development                                  Alexandra Askandar             Present
                            b. Digital Platform Development Update
                            c. Treasury Proposal                             Ahmad Siddik Badruddin         Present
                       2.   Financial Performance March 2023
                                                                             Agus Dwi Handaya               Present
                       3.   Update on Public Expose & Analyst Meeting Q1
                            2023 Preparation                                 Riduan                         Present
                       4.   Human Capital Proposal
                                                                             Aquarius Rudianto              Present

                                                                             Toni Eko Boy Subari            Present

                                                                             Susana Indah K. Indriati       Present

                                                                             Rohan Hafas                    Present

                                                                             Sigit Prastovo                 Present

                                                                             Timothy Utama                  Present

                                                                             Eka Fitria*                    Present

  16   2 May 2023      1.   General Discussion:                              Darmawan Junaidi               Present
                            a. Update on the Company's Latest
                               Development                                   Alexandra Askandar             Present
                            b. Digital Platform Development Update
                            c. Transformation Project Update                 Ahmad Siddik Badruddin         Absent              On Leave

                                                                             Agus Dwi Handaya               Present

                                                                             Riduan                         Present

                                                                             Aquarius Rudianto              Present

                                                                             Toni Eko Boy Subari            Present

                                                                             Susana Indah K. Indriati       Present

                                                                             Rohan Hafas                    Present

                                                                             Sigit Prastovo                 Present

                                                                             Timothy Utama                  Present

                                                                             Eka Fitria*                    Present

  17   8 May 2023      1.   General Discussion:                              Darmawan Junaidi               Present
                            a. Update on the Company's Latest
                                Development                                  Alexandra Askandar             Present
                            b. Digital Platform Development Update
                       2.   Retail Segment Credit Update                     Ahmad Siddik Badruddin         Absent              On Leave
                       3.   Human Capital Proposal
                                                                             Agus Dwi Handaya               Present

                                                                             Riduan                         Present

                                                                             Aquarius Rudianto              Present

                                                                             Toni Eko Boy Subari            Present

                                                                             Susana Indah K. Indriati       Present

                                                                             Rohan Hafas                    Present

                                                                             Sigit Prastovo                 Present

                                                                             Timothy Utama                  Present

                                                                             Eka Fitria*                    Present




                                                                                                                       ANNUAL REPORT 2023    665
Page 159
            MAIN                             MANAGEMENT                                         COMPANY                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                       REPORT                                             PROFILE                   AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                                 Reasons for
       No          Date                       Agenda Rapat                              Meeting Participants   Presence
                                                                                                                                  Absence
       18   15 May 2023      1.   General Discussion:                             Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                      Development                                 Alexandra Askandar            Absent            On Leave
                                  b. Update on Transformation Project
                             2.   Update Stress Testing Bank Mandiri Quarter IV   Ahmad Siddik Badruddin        Present
                                  2022
                                                                                  Agus Dwi Handaya              Present
                             3.   Human Capital Proposal
                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria*                   Absent           Business Trip

       19   22 May 2023      1.   General Discussion:                             Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                       Development                                Alexandra Askandar            Present
                                  b. Update Office of Chief Economist
                                  c. Update on Transformation Project             Ahmad Siddik Badruddin        Present
                             2.   April 2023 Financial Performance
                                                                                  Agus Dwi Handaya              Present

                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria*                   Present

       20   25 May 2023      1.   April 2023 Financial Performance                Darmawan Junaidi              Present
            (Radirkom)
                                                                                  Alexandra Askandar            Absent            Sick Leave

                                                                                  Ahmad Siddik Badruddin        Present

                                                                                  Agus Dwi Handaya              Present

                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Absent            Sick Leave

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria*                   Present

       21   29 May 2023      1.   General Discussion:                             Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                     Development                                  Alexandra Askandar            Present
                                  b. Update on Independent Preparation for
                                     Jogja Marathon 2023                          Ahmad Siddik Badruddin        Present
                                  c. IR Market Update
                                                                                  Agus Dwi Handaya              Present
                                  d. Digital Platform Development Update
                             2.   Human Capital Proposal                          Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria*                   Present




666   PT Bank Mandiri (Persero) Tbk
Page 160
CORPORATE                  ESG COMMITMENTS                                SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                 & PRACTICES                                    RESPONSIBILITY                             STATEMENTS 2023




                                                                                                         BOARD OF DIRECTORS


                                                                                                                              Reasons for
  No          Date                     Agenda Rapat                               Meeting Participants    Presence
                                                                                                                               Absence
  22   5 June 2023    1.   General Discussion:                              Darmawan Junaidi               Present
                           a. Update on the Company's Latest
                               Development                                  Alexandra Askandar             Present
                           b. Update on Transformation Project
                           c. Digital Platform Development Update           Ahmad Siddik Badruddin         Present
                      2.   Proposed RKAP 2023 Revision &; RBB 2023-2025
                                                                            Agus Dwi Handaya               Present
                           Revision
                                                                            Riduan                         Present

                                                                            Aquarius Rudianto              Present

                                                                            Toni Eko Boy Subari            Present

                                                                            Susana Indah K. Indriati       Present

                                                                            Rohan Hafas                    Present

                                                                            Sigit Prastovo                 Present

                                                                            Timothy Utama                  Present

                                                                            Eka Fitria*                    Present

  23   12 June 2023   1.   General Discussion: Update on the Company's      Darmawan Junaidi               Present
                           Latest Development
                      2.   Financial Performance May 2023                   Alexandra Askandar             Present

                                                                            Ahmad Siddik Badruddin         Present

                                                                            Agus Dwi Handaya               Present

                                                                            Riduan                         Present

                                                                            Aquarius Rudianto              Present

                                                                            Toni Eko Boy Subari            Present

                                                                            Susana Indah K. Indriati       Present

                                                                            Rohan Hafas                    Present

                                                                            Sigit Prastovo                 Present

                                                                            Timothy Utama                  Present

                                                                            Eka Fitria*                    Present

  24   19 June 2023   1.   General Discussion: Update on the Company's      Darmawan Junaidi               Present
                           Latest Development
                                                                            Alexandra Askandar             Present

                                                                            Ahmad Siddik Badruddin         Present

                                                                            Agus Dwi Handaya               Present

                                                                            Riduan                         Present

                                                                            Aquarius Rudianto              Present

                                                                            Toni Eko Boy Subari            Present

                                                                            Susana Indah K. Indriati       Present

                                                                            Rohan Hafas                    Present

                                                                            Sigit Prastovo                 Present

                                                                            Timothy Utama                  Present

                                                                            Eka Fitria*                    Present

  25   27 June 2023   1.   General Discussion: Update on the Company's      Darmawan Junaidi               Present
                           Latest Development
                      2.   Human Capital Proposal                           Alexandra Askandar             Present

                                                                            Ahmad Siddik Badruddin         Present

                                                                            Agus Dwi Handaya               Present

                                                                            Riduan                         Present

                                                                            Aquarius Rudianto              Present

                                                                            Toni Eko Boy Subari            Present

                                                                            Susana Indah K. Indriati       Present

                                                                            Rohan Hafas                    Present

                                                                            Sigit Prastovo                 Present

                                                                            Timothy Utama                  Present

                                                                            Eka Fitria*                    Present




                                                                                                                      ANNUAL REPORT 2023    667
Page 161
            MAIN                            MANAGEMENT                                         COMPANY                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                      REPORT                                             PROFILE                   AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                                Reasons for
       No           Date                     Agenda Rapat                              Meeting Participants   Presence
                                                                                                                                 Absence
       26   3 July 2023      1.   General Discussion: Update on the Company's    Darmawan Junaidi              Present
                                  Latest Development
                             2.   Human Capital Proposal                         Alexandra Askandar            Present

                                                                                 Ahmad Siddik Badruddin        Present

                                                                                 Agus Dwi Handaya              Present

                                                                                 Riduan                        Present

                                                                                 Aquarius Rudianto             Present

                                                                                 Toni Eko Boy Subari           Present

                                                                                 Susana Indah K. Indriati      Present

                                                                                 Rohan Hafas                   Present

                                                                                 Sigit Prastovo                Present

                                                                                 Timothy Utama                 Present

                                                                                 Eka Fitria*                   Present

       27   11 July 2023     1.   General Discussion:                            Darmawan Junaidi              Present
                                  a. Update on the Company's Latest
                                     Development                                 Alexandra Askandar            Present
                                  b. Digital Platform Development Update
                                                                                 Ahmad Siddik Badruddin        Present

                                                                                 Agus Dwi Handaya              Present

                                                                                 Riduan                        Present

                                                                                 Aquarius Rudianto             Present

                                                                                 Toni Eko Boy Subari           Present

                                                                                 Susana Indah K. Indriati      Present

                                                                                 Rohan Hafas                   Present

                                                                                 Sigit Prastovo                Present

                                                                                 Timothy Utama                 Present

                                                                                 Eka Fitria*                   Present

       28   17 July 2023     1.   General Discussion: Update on the Company's    Darmawan Junaidi              Present
                                  Latest Development
                             2.   Financial Performance June 2023                Alexandra Askandar            Present
                             3.   Update on Public Expose & Analyst Meeting Q2
                                  2023 Preparation                               Ahmad Siddik Badruddin        Present

                                                                                 Agus Dwi Handaya              Present

                                                                                 Riduan                        Present

                                                                                 Aquarius Rudianto             Present

                                                                                 Toni Eko Boy Subari           Present

                                                                                 Susana Indah K. Indriati      Present

                                                                                 Rohan Hafas                   Present

                                                                                 Sigit Prastovo                Present

                                                                                 Timothy Utama                 Present

                                                                                 Eka Fitria*                   Present

       29   24 July 2023     1.   General Discussion: Update on the Company's    Darmawan Junaidi              Present
                                  Latest Development
                             2.   Human Capital Proposal                         Alexandra Askandar            Present

                                                                                 Ahmad Siddik Badruddin        Present

                                                                                 Agus Dwi Handaya              Present

                                                                                 Riduan                        Present

                                                                                 Aquarius Rudianto             Present

                                                                                 Toni Eko Boy Subari           Present

                                                                                 Susana Indah K. Indriati      Present

                                                                                 Rohan Hafas                   Absent            Permission

                                                                                 Sigit Prastovo                Present

                                                                                 Timothy Utama                 Present

                                                                                 Eka Fitria*                   Present




668   PT Bank Mandiri (Persero) Tbk
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CORPORATE                    ESG COMMITMENTS                                  SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                   & PRACTICES                                      RESPONSIBILITY                             STATEMENTS 2023




                                                                                                             BOARD OF DIRECTORS


                                                                                                                                  Reasons for
  No           Date                       Agenda Rapat                                Meeting Participants    Presence
                                                                                                                                   Absence
  30   31 July 2023     1.   General Discussion:                                Darmawan Junaidi               Present
                             a. Update on the Company's Latest
                                Development                                     Alexandra Askandar             Present
                             b. Update on Transformation Project
                             c. Digital Platform Development Update             Ahmad Siddik Badruddin         Present

                                                                                Agus Dwi Handaya               Present

                                                                                Riduan                         Present

                                                                                Aquarius Rudianto              Present

                                                                                Toni Eko Boy Subari            Present

                                                                                Susana Indah K. Indriati       Present

                                                                                Rohan Hafas                    Present

                                                                                Sigit Prastovo                 Present

                                                                                Timothy Utama                  Present

                                                                                Eka Fitria*                    Present

  31   7 August 2023    1.   General Discussion:                                Darmawan Junaidi               Present
                             a. Update on the Company's Latest
                                  Development                                   Alexandra Askandar             Present
                             b. Update on Transformation Project
                        2.   Update Stress Testing Bank Mandiri Quarter I       Ahmad Siddik Badruddin         Present
                             2023
                                                                                Agus Dwi Handaya               Present
                        3.   Risk Management Proposal
                                                                                Riduan                         Present

                                                                                Aquarius Rudianto              Present

                                                                                Toni Eko Boy Subari            Present

                                                                                Susana Indah K. Indriati       Present

                                                                                Rohan Hafas                    Present

                                                                                Sigit Prastovo                 Present

                                                                                Timothy Utama                  Present

                                                                                Eka Fitria*                    Present

  32   14 August 2023   1.   General Discussion: Update on Digital Platform     Darmawan Junaidi               Present
                             Development
                                                                                Alexandra Askandar             Present

                                                                                Ahmad Siddik Badruddin         Present

                                                                                Agus Dwi Handaya               Present

                                                                                Riduan                         Present

                                                                                Aquarius Rudianto              Present

                                                                                Toni Eko Boy Subari            Present

                                                                                Susana Indah K. Indriati       Present

                                                                                Rohan Hafas                    Present

                                                                                Sigit Prastovo                 Present

                                                                                Timothy Utama                  Present

                                                                                Eka Fitria*                    Present

  33   28 August 2023   1.   General Discussion:                                Darmawan Junaidi               Present
                             a. Effective Position of Board of Directors
                             b. Update on the Company's Latest                  Alexandra Askandar             Present
                                Development
                             c. Update on Transformation Project                Ahmad Siddik Badruddin         Present
                             d. Update on Strategi IT
                                                                                Agus Dwi Handaya               Present

                                                                                Riduan                         Present

                                                                                Aquarius Rudianto              Absent              On Leave

                                                                                Toni Eko Boy Subari            Present

                                                                                Susana Indah K. Indriati       Present

                                                                                Rohan Hafas                    Present

                                                                                Sigit Prastovo                 Present

                                                                                Timothy Utama                  Present

                                                                                Eka Fitria                     Present




                                                                                                                          ANNUAL REPORT 2023    669
Page 163
            MAIN                               MANAGEMENT                                        COMPANY                    MANAGEMENT DISCUSSION
            HIGHLIGHTS                         REPORT                                            PROFILE                    AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                                   Reasons for
       No          Date                          Agenda Rapat                             Meeting Participants   Presence
                                                                                                                                    Absence
       34   12 September 2023   1.   General Discussion:                            Darmawan Junaidi              Present
                                     a. Update on the Company's Latest
                                        Development                                 Alexandra Askandar            Present
                                     b. Update on Bank Mandiri's 25th Anniversary
                                        Series of Events                            Ahmad Siddik Badruddin        Present
                                2.   Human Capital Proposal
                                                                                    Agus Dwi Handaya              Present

                                                                                    Riduan                        Present

                                                                                    Aquarius Rudianto             Present

                                                                                    Toni Eko Boy Subari           Present

                                                                                    Susana Indah K. Indriati      Present

                                                                                    Rohan Hafas                   Present

                                                                                    Sigit Prastovo                Present

                                                                                    Timothy Utama                 Present

                                                                                    Eka Fitria                    Present

       35   25 September 2023   1.   General Discussion:                            Darmawan Junaidi              Present
                                     a. Update on the Company's Latest
                                         Development                                Alexandra Askandar            Present
                                     b. Digital Platform Development Update
                                2.   Financial Performance August 2023              Ahmad Siddik Badruddin        Present
                                3.   Update on Risk Management Follow-Up
                                                                                    Agus Dwi Handaya              Present

                                                                                    Riduan                        Present

                                                                                    Aquarius Rudianto             Present

                                                                                    Toni Eko Boy Subari           Present

                                                                                    Susana Indah K. Indriati      Present

                                                                                    Rohan Hafas                   Present

                                                                                    Sigit Prastovo                Present

                                                                                    Timothy Utama                 Present

                                                                                    Eka Fitria                    Present

       36   27 September 2023   1.   Financial Performance August 2023              Darmawan Junaidi              Present
            (Radirkom)
                                                                                    Alexandra Askandar            Present

                                                                                    Ahmad Siddik Badruddin        Present

                                                                                    Agus Dwi Handaya              Present

                                                                                    Riduan                        Present

                                                                                    Aquarius Rudianto             Present

                                                                                    Toni Eko Boy Subari           Present

                                                                                    Susana Indah K. Indriati      Present

                                                                                    Rohan Hafas                   Present

                                                                                    Sigit Prastovo                Present

                                                                                    Timothy Utama                 Present

                                                                                    Eka Fitria                    Present

       37   03 October 2023     1.   General Discussion:                            Darmawan Junaidi              Present
                                     a. Update on the Company's Latest
                                        Development                                 Alexandra Askandar            Present
                                     b. Update on Transformation Project
                                2.   Human Capital Proposal                         Ahmad Siddik Badruddin        Absent            On Leave

                                                                                    Agus Dwi Handaya              Present

                                                                                    Riduan                        Present

                                                                                    Aquarius Rudianto             Present

                                                                                    Toni Eko Boy Subari           Present

                                                                                    Susana Indah K. Indriati      Present

                                                                                    Rohan Hafas                   Present

                                                                                    Sigit Prastovo                Present

                                                                                    Timothy Utama                 Present

                                                                                    Eka Fitria                    Present




670   PT Bank Mandiri (Persero) Tbk
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CORPORATE                     ESG COMMITMENTS                               SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                    & PRACTICES                                   RESPONSIBILITY                             STATEMENTS 2023




                                                                                                           BOARD OF DIRECTORS


                                                                                                                                Reasons for
  No          Date                        Agenda Rapat                              Meeting Participants    Presence
                                                                                                                                 Absence
  38   09 October 2023   1.   General Discussion:                             Darmawan Junaidi               Present
                              a. Update on the Company's Latest
                                 Development                                  Alexandra Askandar             Present
                              b. Update on Transformation Project
                                                                              Ahmad Siddik Badruddin         Absent              On Leave

                                                                              Agus Dwi Handaya               Present

                                                                              Riduan                         Present

                                                                              Aquarius Rudianto              Present

                                                                              Toni Eko Boy Subari            Present

                                                                              Susana Indah K. Indriati       Present

                                                                              Rohan Hafas                    Present

                                                                              Sigit Prastovo                 Present

                                                                              Timothy Utama                  Present

                                                                              Eka Fitria                     Present

  39   16 October 2023   1.   General Discussion:                             Darmawan Junaidi               Present
                              a. Update on the Company's Latest
                                  Development                                 Alexandra Askandar             Present
                              b. Follow-up Position Filling
                              c. Update on Transformation Project             Ahmad Siddik Badruddin         Present
                         2.   Financial Performance September 202
                                                                              Agus Dwi Handaya               Present
                         3.   Kick-Off RKAP 2024 and RBB 2024-2026
                                                                              Riduan                         Present

                                                                              Aquarius Rudianto              Present

                                                                              Toni Eko Boy Subari            Present

                                                                              Susana Indah K. Indriati       Present

                                                                              Rohan Hafas                    Present

                                                                              Sigit Prastovo                 Present

                                                                              Timothy Utama                  Present

                                                                              Eka Fitria                     Present

  40   23 October 2023   1.   Update on Public Expose & Analyst Meeting Q3    Darmawan Junaidi               Present
                              2023 Preparation
                         2.   Recovery Plan Update Year 2023-2024             Alexandra Askandar             Present

                                                                              Ahmad Siddik Badruddin         Present

                                                                              Agus Dwi Handaya               Present

                                                                              Riduan                         Present

                                                                              Aquarius Rudianto              Present

                                                                              Toni Eko Boy Subari            Present

                                                                              Susana Indah K. Indriati       Present

                                                                              Rohan Hafas                    Present

                                                                              Sigit Prastovo                 Present

                                                                              Timothy Utama                  Present

                                                                              Eka Fitria                     Present

  41   30 October 2023   1.   General Discussion: Update on the Company's     Darmawan Junaidi               Present
                              Latest Development
                                                                              Alexandra Askandar             Present

                                                                              Ahmad Siddik Badruddin         Present

                                                                              Agus Dwi Handaya               Present

                                                                              Riduan                         Present

                                                                              Aquarius Rudianto              Present

                                                                              Toni Eko Boy Subari            Present

                                                                              Susana Indah K. Indriati       Present

                                                                              Rohan Hafas                    Present

                                                                              Sigit Prastovo                 Present

                                                                              Timothy Utama                  Present

                                                                              Eka Fitria                     Present




                                                                                                                        ANNUAL REPORT 2023    671
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            MAIN                               MANAGEMENT                                      COMPANY                    MANAGEMENT DISCUSSION
            HIGHLIGHTS                         REPORT                                          PROFILE                    AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                                                                 Reasons for
       No          Date                         Agenda Rapat                            Meeting Participants   Presence
                                                                                                                                  Absence
       42   06 November 23     1.   Proposal on Human Capital                     Darmawan Junaidi              Present
                               2.   IT Proposal
                                                                                  Alexandra Askandar            Present

                                                                                  Ahmad Siddik Badruddin        Present

                                                                                  Agus Dwi Handaya              Present

                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria                    Present

       43   13 November 2023   1.   Proposal on Human Capital                     Darmawan Junaidi              Present
                               2.   General Discussion:
                                    a. Update on Transformation Project           Alexandra Askandar            Present
                                    b. Digital Platform Development Update
                               3.   Proposed Sustainable Finance Action Plan      Ahmad Siddik Badruddin        Present
                                    (RAKB) 2024-2028
                                                                                  Agus Dwi Handaya              Present
                               4.   RKAP 2024 and RBB Proposal 2024-2026
                                                                                  Riduan                        Absent            Sick Leave

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria                    Present

       44   20 November 2023   1.   General Discussion: Update on the Company's   Darmawan Junaidi              Present
                                    Latest Development
                               2.   October 2023 Financial Performance            Alexandra Askandar            Present
                               3.   Proposal on Human Capital
                                                                                  Ahmad Siddik Badruddin        Present

                                                                                  Agus Dwi Handaya              Present

                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria                    Present

       45   27 November 2023   1.   Proposal on Human Capital                     Darmawan Junaidi              Present
                               2.   General Discussion: Transformation Project
                                    Update                                        Alexandra Askandar            Present
                               3.   Fund-Related Strategy Update
                               4.   Proposal on Corporate Real Estate             Ahmad Siddik Badruddin        Present

                                                                                  Agus Dwi Handaya              Present

                                                                                  Riduan                        Present

                                                                                  Aquarius Rudianto             Present

                                                                                  Toni Eko Boy Subari           Present

                                                                                  Susana Indah K. Indriati      Present

                                                                                  Rohan Hafas                   Present

                                                                                  Sigit Prastovo                Present

                                                                                  Timothy Utama                 Present

                                                                                  Eka Fitria                    Present




672   PT Bank Mandiri (Persero) Tbk
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CORPORATE                          ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                         FINANCIAL
GOVERNANCE                         & PRACTICES                                     RESPONSIBILITY                                   STATEMENTS 2023




                                                                                                                        BOARD OF DIRECTORS


                                                                                                                                             Reasons for
  No            Date                             Agenda Rapat                             Meeting Participants           Presence
                                                                                                                                              Absence
  46    04 December 2023 1. General Discussion: Update on the                        Darmawan Junaidi                     Present
                            Company's Latest Development
                                                                                     Alexandra Askandar                   Present
                                                                                     Ahmad Siddik Badruddin               Present
                                                                                     Agus Dwi Handaya                     Present
                                                                                     Riduan                               Present
                                                                                     Aquarius Rudianto                    Present
                                                                                     Toni Eko Boy Subari                  Present
                                                                                     Susana Indah K. Indriati             Present
                                                                                     Rohan Hafas                          Present
                                                                                     Sigit Prastovo                       Present
                                                                                     Timothy Utama                        Present
                                                                                     Eka Fitria                           Present
  47    12 December 2023 1. General Discussion: Update on the                        Darmawan Junaidi                     Present
                            Company's Latest Development
                         2. Update on the Implementation of Bank                     Alexandra Askandar                   Present
                            Mandiri National Meeting                                 Ahmad Siddik Badruddin               Present
                         3. Business Command Center (BCC)
                            Review                                                   Agus Dwi Handaya                     Present
                         4. Update on Treasury
                                                                                     Riduan                               Present
                                                                                     Aquarius Rudianto                    Present
                                                                                     Toni Eko Boy Subari                  Present
                                                                                     Susana Indah K. Indriati             Present
                                                                                     Rohan Hafas                          Present
                                                                                     Sigit Prastovo                       Present
                                                                                     Timothy Utama                        Present
                                                                                     Eka Fitria                           Present
  48    18 December 2023 1. Proposal on Human Capital                                Darmawan Junaidi                     Present
                         2. November 2023 Financial Performance
                         3. Update on Stress Testing Bank Mandiri                    Alexandra Askandar                   Present
                            Triwulan III 2023                                        Ahmad Siddik Badruddin               Present
                         4. Proposal on Risk Management
                                                                                     Agus Dwi Handaya                     Absent              On Leave
                                                                                     Riduan                               Present
                                                                                     Aquarius Rudianto                    Present
                                                                                     Toni Eko Boy Subari                  Present
                                                                                     Susana Indah K. Indriati             Present
                                                                                     Rohan Hafas                          Present
                                                                                     Sigit Prastovo                       Present
                                                                                     Timothy Utama                        Present
                                                                                     Eka Fitria                           Present
  *) Diangkat sebagai Direktur pada RUPS Tahunan tanggal 14 Maret 2023.



 Meeting Frequency and Attendance
 In 2023, the Board of Directors held 48 (forty-eight) meetings. The frequency and attendance of Director’s meetings is
 as below.
                                                                                              Joint Meetings of BOD &
                                                                 BOD Meetings
                                                                                                       BOC                Total             Total
          Name                       Position                                                                                                              %
                                                         Total                Total         Total              Total     Meetings       Attendance
                                                        Meetings          Attendance       Meetings        Attendance
 Darmawan Junaidi           President Director              45                45                  3             3           48               48          100%
 Alexandra Askandar         Vice President Director         45                43                  3             2           48               45          94%
 Ahmad Siddik               Director of Risk                45                41                  3             3           48               44          92%
 Badruddin                  Management


                                                                                                                                     ANNUAL REPORT 2023         673
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              MAIN                                   MANAGEMENT                           COMPANY                             MANAGEMENT DISCUSSION
              HIGHLIGHTS                             REPORT                               PROFILE                             AND ANALYSIS




      BOARD OF DIRECTORS


                                                                                         Joint Meetings of BOD &
                                                                      BOD Meetings
                                                                                                  BOC               Total            Total
               Name                       Position                                                                                             %
                                                              Total            Total     Total         Total       Meetings      Attendance
                                                             Meetings      Attendance   Meetings   Attendance
      Agus Dwi Handaya           Director of Compliance          45            44          3             3            48             47       98%
                                 & HR
      Eka Fitria*)               Director of Treasury &          36            34          2             2            38             36       95%
                                 International Banking
      Riduan                     Director of Commercial          45            43          3             3            48             46       96%
                                 Banking
      Aquarius Rudianto          Director of Network &           45            42          3             3            48             45       94%
                                 Retail Banking
      Toni E. B. Subari          Director of Operation           45            44          3             3            48             47       98%
      Susana Indah K.            Director of Corporate           45            45          3             2            48             47       98%
      Indriati                   Banking
      Rohan Hafas                Director of Institutional       45            43          3             3            48             46       96%
                                 Relations
      Sigit Prastowo             Director of Finance &           45            44          3             3            48             47       98%
                                 Strategies
      Timothy Utama              Director of Information         45            45          3             3            48             48       100%
                                 Technology
       *) Appointed as Director at the Annual GMS dated 14 March 2023.



      Joint Meeting of Directors and Board of Commissioners
      The frequency and attendance of meetings of the Directors with the Board of Commissioners are presented in the
      above table.

      BOARD OF DIRECTORS DECISIONS AND IMPLEMENTATION OF DUTIES

      During 2023, the Board of Directors has carried out its duties, obligations and responsibilities for the management of
      the Company as stipulated in the prevailing laws and regulations, the Company’s Articles of Association and the Work
      Plan set at the beginning of the year.

      The general implementation of the Board of Directors duties in 2023 were as followed:
      1. Drafting the Bank Business Plan.
      2. Fulfilling of the Bank’s performance targets.
      3. Drafting the 2024-2028 Sustainable Finance Action Plan (SFAP).
      4. Managing Assets and Financial.
      5. Organizing Board of Directors meetings. During 2023, 45 (forty-five) meetings of the Board of Directors and 3 (three)
          Joint Meetings (the Board of Directors invited the Board of Commissioners) were conducted.
      6. Attending Board of Commissioners meetings.
      7. Implementing General Meeting of Shareholders. In 2023, the General Meetings of Shareholders were held 1 (one)
          time, on 14 March 2023.
      8. Supervising and improving internal business processes.
      9. Implementing Good Corporate Governance in every business activity.
      10. Drafting the IT management/ development initiatives and cyber-security.
      11. Participating actively as one of the first movers in the implementation of Sustainable Finance in Indonesia by
          participating in the Indonesian Sustainable Finance Initiative (IKBI).
      12. Funds disbursement for the social and environmental program to elevate the community welllbeing and environment
          preservation.
      13. Implementing other duties related to the management of the Bank.




674   PT Bank Mandiri (Persero) Tbk
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CORPORATE                    ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                            FINANCIAL
GOVERNANCE                   & PRACTICES                              RESPONSIBILITY                                      STATEMENTS 2023




                                                                                                             BOARD OF DIRECTORS



 The following are decrees issued by the Board of Directors in 2023 include:

         Date                                                                    Subject
 24 January 2023     Non-IT Initiatives
 24 January 2023     Establishment of the Steering Team and Implementation Team of the Annual GMS for Fiscal Year 2022 of PT Bank Mandiri
                     (Persero) Tbk
 25 January 2023     Determination of the Composition of the Operational Rental Service Vehicle Tender Committee (KDS) for 2023-2024
 30 January 2023     Information and Documentation Management Officer (PPID)
 31 January 2023     Setting of General Tender
 31 January 2023     Determination of the Composition of the Land and/or Building Purchase Committee
 20 February 2023    Appointment of Employees to Members of SOEs Directors
 23 February 2023    Implementation of IT Initiatives Year 2023
 27 February 2023    Determination of the Composition of the Tender
 28 February 2023    Determination of the Composition of the Procurement Tender
 24 March 2023       Designation of Land and/or Building Purchase Committee
 11 April 2023       Determination of Integrated Governance Committee Membership
 11 April 2023       Determination of Remuneration and Nomination Committee Membership
 11 April 2023       Determination of Risk Oversight Committee Membership
 11 April 2023       Determination of Audit Committee Membership
 18 April 2023       Determination of the Composition of the General Tender
 10 May 2023         Determination of the Composition of the General Tender Committee for Procurement of Contractors for Interior Renovation
 10 May 2023         Determination of the Composition of the General Tender Committee for the Construction
 12 May 2023         Determination of the composition of the General Tender Committee for Procurement of Contractors for Implementing
                     Generator and Electrical System
 17 May 2023         Determination of the Composition of the Tender Committee
 31 May 2023         Organizational Structure
 24 July 2023        Determination of the composition of the General Tender Committee for the Procurement of Construction Contractor Services
                     for the Construction of Functional House Construction
 24 July 2023        Determination of the composition of the General Tender Committee for the Procurement of Contractor Services for the
                     Construction of Functional Houses
 02 August 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for Interior
                     Renovation
 02 August 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for Building
 04 August 2023      Organizational Structure
 24 August 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for the
                     Construction
 11 September 2023   Procurement Team and Reviewer Assignment Limited Review Services of Bank Mandiri's Financial Statements as of 31 August
                     2023
 12 September 2023   Determination of Audit Committee Membership
 13 September 2023   Establishment of a Negotiating Team and Authorization in the Making of Collaborative Labor Agreements (CLA)
 22 September 2023   Determination of the Composition of the General Tender Committee for the Procurement of Contractor Services for the
                     Construction
 25 September 2023   Appointment and Assignment of Senior Executive Vice President of PT Bank Mandiri (Persero) Tbk
 25 September 2023   Appointment and Assignment of Senior Executive Vice President of PT Bank Mandiri (Persero) Tbk
 29 September 2023   Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for Interior
 19 October 2023     Determination of the team and reviewers of the procurement of Public Accountant (AP) and Public Accounting Firm (KAP)
                     services to carry out audits of the consolidated financial statements of PT Bank Mandiri (Persero) Tbk and subsidiaries, audits
                     of the financial statements of the Micro and Small Business (PUMK) funding program of PT Bank Mandiri (Persero) Tbk, and
                     other service assignments on the date and for the year ended 31 December 2024 ("Procurement of AP and KAP Services
                     Year 2024")
 23 October 2023     Board of Directors Charter




                                                                                                                           ANNUAL REPORT 2023          675
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             HIGHLIGHTS                       REPORT                                    PROFILE                                AND ANALYSIS




      BOARD OF DIRECTORS


              Date                                                                      Subject
      27 October 2023       Policy & Procedure Committee
      13 November 2023      Establishment of Procurement Team for Climate Risk Stress Testing Initiative Consultant Services
      22 November 2023      Determination of the Composition of the General Tender Committee for the Procurement of Implementing Contractor
                            Services for the Construction
      22 November 2023      Determination of the Composition of the General Tender Committee for Contractor Services for the Construction
      23 November 2023      Determination of the Composition of the Public Tender Committee for Procurement of Contractor Services for Cluster
      23 November 2023      Determination of the Composition of the Public Tender Committee for Procurement of Contractor Services for Implementing
                            Cluster
      01 December 2023      Appointment of Group Head Corporate Secretary
      05 December 2023      Determination of the Operational Rental Service Vehicle Tender Committee (KDS) for 2024-2025
      20 December 2023      SEVP Fielding and Designation of SEVP Replacement
      20 December 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for the
                            Construction
      20 December 2023      Determination of the Composition of the General Tender Committee for the Procurement of Contractor Services for the
                            Construction
      21 December 2023      Implementation of IT Initiatives Year 2024
      21 December 2023      Publication of Non-IT Initiative Results 2024
      22 December 2023      Appointment and Assignment of Senior Executive Vice President of PT Bank Mandiri (Persero) Tbk
      22 December 2023      Appointment and Assignment of Senior Executive Vice President of PT Bank Mandiri (Persero) Tbk
      22 December 2023      Appointment and Assignment of Senior Executive Vice President of PT Bank Mandiri (Persero) Tbk
      28 December 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for the
                            Construction
      28 December 2023      Determination of the Composition of the General Tender Committee for Procurement of Contractor Services for the
                            Construction



      Company Annual Strategy Review                                               Performance Assessment of Individual Directors
      The Board of Directors strives to progress the Company’s                     President Director
      performance for the following year by reviewing the                          1. Achievement of collegial performance of the Board
      Company’s annual strategy which is carried out at the end                       of Directors.
      of the current year. In 2023, the review of the Company’s                    2. Fulfilment of internal control in every line of defense.
      annual strategy was carried out through the Board of                         3. Implementation of the Company’s Compliance as a
      Directors’ meetings.                                                            Public Company.
                                                                                   4. Achievement of business volume growth in the region.
      Evaluation of the Company’s Strategies                                       5. Achievement of funding/Fee Based Income growth
      Evaluation of the Company’s strategies in line with the                         in the region.
      Company’s Vision and Mission as well as the latest business                  6. Achievement of digital transactions volume growth
      environment is carried out periodically and involves all                        by customers in the region.
      Directors and executives at Bank Mandir, which is done                       7. Maintain Assets Quality/Performing Loans.
      through discussion forums for the annual Corporate Work
      Plan and Budget (RKAP) and the Company’s Corporate                           Vice President Director
      Plan (RJPP) to find out the achievements and the business                    1. Achievement of collegial performance of the Board
      directives. In the process of drafting the RKAP which                           of Directors.
      referred to the RJPP, the documents have to be submitted                     2. Improvement of litigation settlement percentage
      to the Board of Commissioners for approval.                                     compared to the previous year.
                                                                                   3. Achievement of Special Assets Management targets.
      PERFORMANCE ASSESSMENT OF                                                    4. Achievement of Loans Restructuring.
      THE BOARD OF DIRECTORS                                                       5. Settlement of Non-Performing Loans.
                                                                                   6. Improvement of Non-Performing Loans Quality, to
      The Board of Directors performance assessment is carried out                    become Performing Loans.
      from the achievement of Key Performance Indicators (KPI)
      individually and collegially, assessed by the Shareholders through
      the General Meeting of Shareholders (GMS) mechanism.




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GOVERNANCE                & PRACTICES                         RESPONSIBILITY                         STATEMENTS 2023




                                                                                           BOARD OF DIRECTORS



 Director of Commercial Banking                                   Director of Information Technology
 1. Achievement of business volume growth of                      1. Implementation of effective technology and
    Commercial Banking segment.                                      information governance.
 2. Achievement of funding/Fee Based Income growth                2. Achievement of availability of information security
    in Commercial Banking segment.                                   management system.
 3. Achievement of customers digital transactions volume          3. Implementation of Information Technology projects
    growth of Commercial Banking segment.                            with project charters.
 4. Maintaining Assets Quality/Performing Loans.                  4. Achievement of conformity between Information
                                                                     Technology with the needs of management
 Director of Corporate Banking                                       information systems and the needs of the Bank’s
 1. Achievement of business volume growth of Corporate               business activities.
    Banking segment.
 2. Achievement of funding/Fee Based Income growth                Director of Operations
    in Corporate Banking segment.                                 1. Implementation of the Company’s management in
 3. Achievement of customers digital transactions volume             accordance with the duties determined in the GMS
    growth of Corporate Banking segment.                             or the Board of Directors’ Meeting.
 4. Maintaining Assets Quality/Performing Loans.                  2. Implementation of the Company’s operations strategy,
                                                                     consolidation of communication, and programs.
 Director of Network & Retail Banking                             3. Achievement of Fee Based Income growth.
 1. Achievement of business volume growth of Retail               4. Achievement of business transactions growth.
    Banking segment.
 2. Achievement of acquisition targets of agents banking          Director of Treasury & International Banking
    and financial inclusion of derivative agents.                 1. Maintaining the Company’s liquidity.
 3. Achievement of funding/Fee Based Income growth                2. Management implementation banking book, trading
    in Retail Banking segment.                                       activity, and dealing activities as well marketing which
 4. Achievement of customers digital transactions volume             includes foreign Exchange Transactions, securities,
    growth of Retail Banking segment.                                derivative products treasury, and trade services
 5. Maintaining Assets Quality/Performing Loan.                      according to that target set.
                                                                  3. Achievement of Fee increase Based Income.
 Director of Institutional Relations
 1. Achievement of business volume growth of Institutional        Director of Finance & Strategy
    segment.                                                      1. Maintaining bank soundness rating.
 2. Achievement of TJSL disbursement for social,                  2. Maintaining CAR ratio between 20%-21%.
    educational, religious aspects according to the work          3. Business Realization according to Work Plan & Budget/
    plan.                                                            Bank Business Plan.
 3. Achievement of funding/Fee Based Income growth                4. Achievement of set financial ratios.
    in Institutional segment.                                     5. The result of KPKU assessment is at least the same as
 4. Achievement of customers digital transactions volume             the previous year.
    growth of Institutional segment.
 5. Maintaining Assets Quality/Performing Loans.                  Director of Compliance & HR
                                                                  1. Achievement of compliance in Bank Mandiri.
 Director of Risk Management                                      2. Achievement of a reduction in the ratio of fines
 1. Ensuring the implementation of proper risk                       imposed by the regulator.
    management in accordance with the articles of                 3. Achievement of Human Capital management
    association, risk management policies, internal control          strategies and targets.
    system policies, standard procedures, and external
    regulations.
 2. Ensuring the implementation of risk management
    culture at all levels of the organization.
 3. Ensuring the implementation of all risk management
    to determine risk appetite, risk thresholds, and
    integrated risk management strategies, as well as
    capital adequacy.




                                                                                                       ANNUAL REPORT 2023       677
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               HIGHLIGHTS                        REPORT                                  PROFILE                              AND ANALYSIS




      BOARD OF DIRECTORS


                                                      Board of Directors Performance Assessment Results
       No.                                            KPI                                    Weight               Indicators               Score
      A. Economy and Social Values for Indonesia                                              45%                                          49.03
      Financial                                                                                                                            28.42
        1      Pre-Provision Operating Profit (PPOP) Nominal                                   5%     According to RKAP                    5.47
        2      Pre-Provision Operating Profit (PPOP) Growth                                    5%     According to RKAP                    5.50
        3      Percentile Total Shareholder Return (TSR).                                      6%     According to Target                  6.60
        4      Market Capitalization                                                           2%     According to Target                  2.20
        5      Return on Equity (ROE) Tier 1                                                   4%     According to RKAP                    4.40
        6      Capital Adequacy Ratio (CAR)                                                    4%     According to RKAP                    4.24
      Operational                                                                                                                          13.00
        1      Loan Risk (LaR)                                                                 3%     According to RKAP                    3.30
        2      CKPN to Loan at Risk (LaR Coverage)                                             3%     According to RKAP                    3.10
        3      Cost of Credit (CoC)                                                            3%     According to RKAP                    3.30
        4      BOPO                                                                            3%     According to RKAP                    3.30
      Social                                                                                                                               7.62
        1      Disbursement of KUR.                                                            4%     According to Government Ceilings     4.40
        2      Klaim KUR Ratio                                                                 3%     According to Target                  3.22
      B. Business Model Innovation                                                            24%                                          25.46
        1      Average Balance of Low Cost Funds                                               5%     According to RKAP                    4.98
        2      CASA Ratio                                                                      5%     According to RKAP                    5.07
        3      Active User Livin’                                                              7%     According to Target                  7.70
        4      Active User Kopra                                                               7%     According to Target                  7.70
      C. Leadership in Technology                                                             11%                                          11.56
        1      Implementation of ATM and EDC Payment Integrations (Jalin Project)              5%     According to Milestone               5.50
        2      Implementation of Roadmap Master Plan Technologi Informasi.                     3%     According to Threshold               3.06
        3      Cyber Security Breach Incident (for losses >Rp 50 Bio)                          3%     Total = 0                            3.00
      D. Investment Enhancement                                                               10%                                          10.93
        1      Environment, Social, Government (ESG) Rating                                    3%     Rating                               3.30
        2      Risk Management Maturity Index                                                  3%     According to Threshold               3.30
        3      Contribution of Subsidiary to Consolidated NPAT                                 4%     Improved than previous year          4.33
      E. Talent Development                                                                   10%                                          10.80
        1      Development & Career Path System at Holding/Cluster scopes                      2%     According to Timeline                2.20
        2      Risk Management Organ Qualification Fulfillment Ratio                           2%     According to Target                  2.00
        3      Completion of the Roadmap for Restructuring Defined Benefit Pension Funds       2%     According to Target                  2.20
        4      Female employees under the nominated talent                                     2%     According to Target                  2.20
        5      Millennial (<=42 years old) under the nominated talent. Implementation/         2%     According to Target                  2.20
               development of talent policies

       Total                                                                                  100%                                        107.78


      PERFORMANCE ASSESSMENT OF THE COMMITTEE UNDER THE BOARD
      OF DIRECTORS AND THE BASIS OF THE ASSESSMENT

      In carrying out its management duties, the Board of Directors is assisted by 11 (eleven) Committees under the Board of
      Directors called the Executive Committees:
      1. Asset & Liability Committee (ALCO)
      2. Business Committee (BC)
      3. Capital & Subsidiaries Committee (CSC)
      4. Human Capital Policy Committee (HCPC)
      5. Information Technology & Digital Banking Committee (ITDC)
      6. Integrated Risk Committee (IRC)



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GOVERNANCE                & PRACTICES                          RESPONSIBILITY                            STATEMENTS 2023




                                                                                              BOARD OF DIRECTORS



 7. Policy and Procedure Committee (PPC)                           management strategy, establishing and developing the
 8. Risk Management & Credit Policy Committee (RMPC)               organization, and setting the strategic direction of Human
 9. Transformation Committee (TFC).                                Capital Information System Development. During 2023,
 10. Credit Committee/ Rapat Komite Kredit (RKK)                   HCPC held 4( four) meetings with topics according to the
 11. Social & Environmental Responsibility Committee               2023 work plan and issues of concern to HCPC.
     (SERC)
                                                                   Information Technology & Digital
 The following are results of performance assessment of            Banking Committee
 Committees under the Board of Directors during 2023.              In 2023, the Information Technology & Digital Banking
                                                                   Committee (ITDC) has carried out its duties properly
 Asset & Liability Committee                                       and has assisted the Board of Directors in establishing a
 In 2023, the Asset & Liability Committee (ALCO) has carried       portfolio of IT initiatives, IT budget allocations, alignment of
 out its duties well and has assisted the Board of Directors       IT Strategy & Execution Plan (ISP). During 2023, ITDC held
 in carrying out the functions of determining asset and            12 (twelve) meetings with topics according to the 2023
 liability management strategies, setting interest rates and       work plan and issues of concern to ITDC.
 maintaining liquidity, as well as other matters related to
 the management of the Company’s assets and liabilities.           Integrated Risk Committee
 During 2023, ALCO held 3 (three) meetings with topics             In 2023, the Integrated Risk Committee (IRC) had carried
 according to the 2023 work plan and issues of concern             out its duties properly and assisted the Board of Directors
 to ALCO.                                                          in the formulation of, among others, Integrated Risk
                                                                   Management policy and improvement or refinement
 Business Committee                                                of the Integrated Risk Management policy based on
 In 2023, the Business Committee (BC) had carried out              the assessment result. During 2023, IRC held 11 (elevent)
 its duties properly and assisted the Board of Directors           meetings with topics according to the 2023 work plan
 in determining the Company’s integrated business                  and issues of concern to IRC.
 management strategy, managing the Company’s
 products and/or activities as well as determining the             Policy & Procedure Committee
 strategy and effectiveness of marketing communication             In 2023, the Risk Management & Credit Policy Committee
 for Wholesale banking and Retail Banking. During 2023,            (RMPC) has effectively carried out its duties and assisted
 BC held 8 (eight) meetings with topics according to the           the Board of Directors in identifying, measuring, monitoring,
 2023 work plan and issues of concern to BC.                       and setting risk management strategies. Additionally, the
                                                                   Committee has also helped formulate and oversee loan
 Capital & Subsidiaries Committee                                  policies, monitor portfolio developments, and provide
 In 2023, the Capital & Subsidiaries Committee (CSC) had           recommendations for improvement. The fulfillment of these
 carried out its duties properly and assisted the Board of         duties was formulated through the implementation of 12
 Directors in managing the Company’s Capital and the               virtual RMPC meetings and 9 circular meetings.
 Subsidiaries, including determining the management
 strategy of the capital, providing recommendations                Risk Management & Credit Policy Committee
 for corporate actions, determining the strategy and               In 2023, the Risk Management & Credit Policy Committee
 management of the Subsidiaries, including equity                  (RMPC) which was established under two categories
 participation, capital divestment, determining members            A and Category B, had carried out its duties properly
 of the Board of Directors and/or members of the Board             and assisted the Board of Directors in implementing
 of Commissioners of Subsidiaries, including remuneration          the duties of Category A include to identify, measure
 for the Directors and/or Commissioners of Subsidiaries.           and monitor risks, determine risk management policies
 During 2023, CSC held 25 (twenty five) meetings with              and strategies. Implementing the duties of Category B
 topics according to the 2023 work plan and issues of              include to formulate credit policies, oversee credit policy
 concern to CSC.                                                   implementation, monitor the development and condition
                                                                   of loans portfolio and provide recommendations for
 Human Capital Policy Committee                                    corrective measures, in which the basis of performance
 In 2023, the Human Capital Policy Committee (HCPC) had            assessment was achieved from the implementation of
 carried out its duties properly and assisted the Board of         12 (twelve) RMPC online meetings and through 9 (nine)
 Directors in determining the Company’s Human Capital              circulars during the year.




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            HIGHLIGHTS                 REPORT                            PROFILE                          AND ANALYSIS




      BOARD OF DIRECTORS




      Transformation Committee
      In 2023, the Transformation Committee (TFC) had carried out its duties properly and assisted the Board of Directors in
      maintaining and determining the Bank’s transformation needs, in which the basis of performance assessment was
      achieved from the implementation of 2 (two) TFC meetings during the year. In addition to being discussed in TFC meetings,
      discussions regarding Business Transformation were also conducted in Board Meetings 15 (fifteen) times during 2023.

      Credit Committee
      In 2023, the Credit Committee/Credit Committee Meeting (RKK) had carried out its duties properly and assisted the
      Board of Directors in taking loans disbursement decision (new, additional, reduction, and/or extension) managed by
      Business Unit in line with the limit of authority, including the determination/change of the loans structure. During 2023,
      RKK decided on 3,219 credits, consisting of 541 decisions in the Corporate segment, 2,366 decisions in the Commercial
      segment, 76 decisions in the Financial Institution segment, 42 decisions in the Institutional segment, and 194 decisions
      in the Special Asset Management (SAM) segment.

      Social & Environmental Responsibility Committee (SERC)
      In 2023, the Social & Environmental Responsibility Committee (SERC) had carried out its duties properly and assisted
      the Board of Directors in mapping and preparing the Social & Environmental Responsibility Program (TJSL). During 2023,
      SERC held 2 (two) meetings with topics according to the 2023 work plan and issues of concern to SERC.




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GOVERNANCE              & PRACTICES                   RESPONSIBILITY                        STATEMENTS 2023




                           COMMITTEES OF THE BOARD OF
                                            DIRECTORS



       In carrying out its duties, the Board of Directors is assisted by
       the Corporate Secretary and Committees whose tasks are to
       provide advice and recommendations relating to the policies
       and directions of the Directors. Bank Mandiri has 11 (eleven)
       committees under the Board of Directors, also called the Executive
       Committee as stated in the Decree of the Board of Directors No.
       KEP.DIR/001/2021 dated 13 January 2021 concerning the Board of
       Directors’ Executive Committee of PT Bank Mandiri (Persero) Tbk
       and Decree of the Board of Directors No. KEP.DIR/059/2021 dated
       24 November 2021 regarding the Adjustment of the Decision of
       the Board of Directors No. KEP.DIR/001/2021 dated 13 January
       2021 regarding the Executive Committee.



 In the capacity as a committee, none of Executive Committees have the authority to represent and on behalf of the
 Company in binding or signing agreements with third parties. All actions for and on behalf of the Company must be
 carried out in accordance with the provisions of the Company’s Articles of Association.




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             HIGHLIGHTS                    REPORT                                    PROFILE                               AND ANALYSIS




      ASSET & LIABILITY COMMITTEE




              Asset & Liability Committee (ALCO) is a committee formed
              to assist the Board of Directors in carrying out the functions
              of determining asset and liability management strategies,
              determining interest rates and maintaining liquidity as
              well as other matters related to the management of the
              Company’s assets and liabilities. In addition, in conditions
              of significant financial stress as well as during periods of
              financial and economic crisis, ALCO carries out monitoring
              and implementation/activation of the Recovery Plan.




      Structure and Membership of Asset & Liability Committee
      Based on the Board of Directors Decree No. KEP.DIR/002/2021 dated 13 January 2021 concerning Asset & Liability
      Committee, the structure and membership of ALCO are as follows:

      Asset & Liability Committee Member Composition
      Chairman                  President Director
      Secretary                 Market Risk Group Head
      Alternate Secretary I     Treasury Group Head
      Alternate Secretary II    Strategy & Performance Management Group Head
      Alternate Secretary III   Credit Portfolio Risk Group Head
                                1.    President Director
                                2.    Vice President Director
                                3.    Director of Risk Management
                                4.    Director of Treasury & International Banking
      Permanent Voting Member   5.    Director of Commercial Banking
                                6.    Director of Network and Retail Banking
                                7.    Director of Corporate Banking
                                8.    Director of Institutional Relations
                                9.    Director of Finance & Strategies
      Non-Permanent Voting      Member of Board of Directors and relevant SEVP present as invitee
      Member
      Permanent Non-Voting      Compliance & HR Director or appointed Compliance & AML-CFT Group Head or Compliance & AML-CFT official.
      Member
      Contributing Non-Voting   1. Other Group Head/Group Head level present as invitee related to the material on the committee’s agenda.
      Member                    2. Committee Secretary.
                                1. SEVP Internal Audit*) or Group Head in Internal Audit or Internal Audit officials present as permanent invitee
                                   without voting rights.
                                   *) In this term, the material discussed in the Committee is the material proposed by the SEVP Internal Audit, the
      Non-Voting Invitee
                                   SEVP Internal Audit acts as a Voting Member.
                                2. Executives of operational risk, namely Senior Operational Risk Head who were present related to the material of
                                   the committee agenda present as an invitee.



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GOVERNANCE                    & PRACTICES                            RESPONSIBILITY                              STATEMENTS 2023




                                                                                                 ASSET & LIABILITY COMMITTEE




 Asset & Liability Committee Profile
 The profile of the Asset & Liability Committee members as of 31 December 2023 is as follows:

              Name             Position in the Committee                  Position in the Company              Educational Background
 Darmawan Junaidi             Chairman/Permanent Voting    President Director                                The educational background
                              Member                                                                         is presented in the Board
                                                                                                             Directors Profile in this Annual
 Alexandra Askandar           Permanent Voting Member      Vice President Director                           Report
 Ahmad Siddik Badruddin       Permanent Voting Member      Director of Risk Management
 Eka Fitria                   Permanent Voting Member      Director of Treasury and International Banking
 Riduan                       Permanent Voting Member      Director of Commercial Banking
 Aquarius Rudianto            Permanent Voting Member      Director of Network & Retail Banking
 Susana Indah Kris Indriati   Permanent Voting Member      Director of Corporate Banking
 Rohan Hafas                  Permanent Voting Member      Director of Institutional Relations
 Sigit Prastowo               Permanent Voting Member      Director of Finance & Strategies




 Asset & Liability Committee Charter                                       5. Evaluate/review deviations between the realization
 Pursuant to POJK No. 17 of 2023 concerning the                                versus budget projection and Company business plan.
 Implementation of Governance for Commercial Banks                         6. Discuss and set limits on liquidity management,
 article 75 states that the Bank must have guidelines                          gap management, pricing management, and FX
 and committee work rules, where the Asset & Liability                         management.
 Committee has been regulated in the Board of Directors                    7. Establish a fund transfer pricing methodology.
 Decree No. KEP.DIR/002/2021, which contains:                              8. Discuss and determine other matters in the scope of
 1. Purpose of the committee establishment                                     ALM, including Subsidiaries/entities controlled by the
 2. Duties, responsibilities, and authority of the committee                   Company.
 3. Structure and membership of the committee                              9. Monitor and implement/activate the Recovery Plan
 4. Committee meetings, quorum and decision making                             as follows:
 5. Committee reporting                                                    10. Monitor the Bank’s financial indicators listed in the
                                                                               Recovery Plan which include indicators of liquidity,
 Duties and Responsibilities of Asset                                          capital, profitability and asset quality.
 & Liability Committee                                                     11. Escalate to the Board of Directors if the Recovery Plan
 In carrying out its functions, ALCO has the following duties                  indicators will or have violated the limit (trigger level)
 and responsibilities:                                                         set to get the Recovery Plan activation decision.
 1. Establish, develop and review the assets and liabilities
     management strategies.                                                Duties Implementation of Asset &
 2. Evaluate the position of the Company’s assets and                      Liability Committee 2023
     liabilities in accordance with liquidity risk, interest rates         In carrying out its duties and responsibilities, ALCO holds
     and exchange rates management objectives.                             meetings at least 3 (three) times a year or at any time if
 3. Evaluate the Company’s position and the Assets &                       it is necessary at the request of one or more members of
     Liabilities Management (ALM) strategy to ensure that                  the voting committee (voting member), or at the request
     the results of the Company’s risk-taking position are                 of the Board of Directors, or upon a written proposal from
     consistent with interest rates, liquidity and exchange                the related unit by delivering discussion material and
     rates management objectives.                                          coordinating with the Committee Secretary.
 4. Conduct an evaluation/review of asset and liability
     pricing to ensure that pricing can optimize the results               Throughout 2023, ALCO has held 3 (three) meetings with
     of investment funds to minimize the cost of funds and                 the following agenda:
     maintain the Company’s balance sheet structure in
     accordance with the Company’s ALM strategy.




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                 HIGHLIGHTS                     REPORT                                    PROFILE                       AND ANALYSIS




      ASSET & LIABILITY COMMITTEE




       No.             Date                                     Agenda                              Quorum Attendance (%)      Remark
           1     3 January 2023    Bonds Portfolio Management 2023 Strategy                                 89%
           2     24 March 2023     Balance Sheet Optimalization to Achieve Target Profit 2023               89%
           3     4 December 2023   1. Bonds Portfolio Management Strategy and Wholesale Funding             100%
                                      2024
                                   2. Securities Issuance to Foster Government Mortgage Loan
                                      Program



      Asset & Liability Committee Work Plan for 2024
      1.       Third party funds & Loan pricing strategy
      2.       Liquidity & funding management strategy
      3.       Bonds portfolio management strategy
      4.       Update Recovery Plan 2024-2025 & Update Resolution Plan 2024




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GOVERNANCE                    & PRACTICES                               RESPONSIBILITY                                  STATEMENTS 2023




                                                                        BUSINESS COMMITTEE




      Business Committee (BC) was established to assist the Board
      of Directors in determining the Company’s integrated business
      management strategy, managing the products as well as
      determining the strategy and effectiveness of marketing
      communication for Wholesale banking and Retail banking.




 Structure and Membership of Business Committee
 Based on the Board of Directors Decree No. KEP.DIR/015/2022 dated 12 April 2022 concerning Business Committee, the
 structure and membership of the BC are as follows:

 Business Committee Membership Composition


 BC Category A
 Chairman                      President Director
 Secretary (Wholesale          Wholesale Transaction Banking Transaction Group Head
 Segment)
 Secretary (Retail Segment)    Retail Deposit Product & Solution Group Head
 Voting Members
                               1.   President Director
                               2.   Vice President Director
                               3.   Director of Risk Management
                               4.   Director of Treasury & International Banking
 Permanent Voting Members
                               5.   Director of Commercial Banking
                               6.   Director of Network & Retail Banking
                               7.   Director of Corporate Banking
                               8.   Director of Institutional Relations
 Non-Permanent Voting          Board of Directors / SEVR related to materials present as invitee
 Members
 Permanent Non-Voting          Director of Compliance & HR or appointed Compliance & AML-CFT Group Head or Compliance & AML-CFT Group
 Member                        officials.
 Contributing Non-Voting       1. Group Head / other Group Head level officials invited in relation to committee agenda
 Member                        2. Committee Secretary
                               1. SEVP Internal Audit*) or Group Head in Internal Audit or Internal Audit officials present as permanent invitee
                                  without voting rights.
                                  *) In the event that the material discussed in the Committee is the material proposed by the SEVP Internal Audit,
 Invitee Non-Voting Member
                                  the SEVP Internal Audit acts as a Voting Member.
                               2. Executives of operational risk, namely Senior Operational Risk Head who were present related to the material of
                                  the committee agenda present as an invitee




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             HIGHLIGHTS                  REPORT                                      PROFILE                                AND ANALYSIS




      BUSINESS COMMITTEE



      BC Category B
      Chairman                     President Director
      Secretary (Wholesale         Wholesale Transaction Banking Transaction Group Head
      Segment)
      Secretary (Retail Segment)   Retail Deposit Product & Solution Group Head
      Voting Members
                                   1. President Director
                                   2. Vice President Director
                                   3. Director of Risk Management
                                   4. Director of Treasury & International Banking
                                   5. Director of Network & Retail Banking
      Permanent Voting Members
                                   6. Director of Corporate Banking
                                   7. Director of Finance & Strategy
                                   8. SEVP Corporate Banking
                                   9. SEVP Wholesale Risk
                                   10. SEVP Micro & Consumer Finance
      Non-Permanent Voting         Members of the Board of Directors / SEVP related to materials present as invitee
      Members
      Permanent Non-Voting         Director of Compliance & HR or appointed Group Head Compliance & AML-CFT or Compliance & AML-CFT
      Member                       Group executives.
      Contributing Non-Voting      1. Group Head/other Group Head level executives invited in relation to committee agenda
      Member                       2. Committee Secretary
                                   1. SEVP Internal Audit*) or Group Head in Internal Audit or Internal Audit executives present as permanent invitee
                                      without voting rights.
                                      *) In the event that the material discussed in the Committee is the material proposed by the SEVP Internal
      Invitee Non-Voting Member
                                      Audit, the SEVP Internal Audit acts as a Voting Member.
                                   2. Executives of operational risk, namely Senior Operational Risk Head related to the material of the committee
                                      agenda present as an invitee



      Business Committee Profile
      The profile of the Business Committee members as of 31 December 2023 is as follows:

      BC Category A
                       Name               Position in the Committee               Position in the Company              Educational Background
      Darmawan Junaidi                Chairman/Permanent Voting             President Director                    The Educational Background is
                                      Member                                                                      presented at the Board of Directors
                                                                                                                  Profile section in this Annual Report.
      Alexandra Askandar              Permanent Voting Member               Vice President Director
      Ahmad Siddik Badruddin          Permanent Voting Member               Director of Risk Management
      Panji Irawan                    Permanent Voting Member               Director of Treasury & Internal
                                                                            Banking
      Riduan                          Permanent Voting Member               Director of Commercial Banking
      Aquarius Rudianto               Permanent Voting Member               Director of Network & Retail
                                                                            Banking
      Susana Indah Kris Indriati      Permanent Voting Member               Director of Corporate Banking
      Rohan Hafas                     Permanent Voting Member               Director of Institutional Relations



      BC Category B
                       Name               Position in the Committee               Position in the Company              Educational Background
      Darmawan Junaidi                Chairman/Permanent Voting             President Director                    The Educational Background is
                                      Member                                                                      presented at the Board of Directors
                                                                                                                  Profile section in this Annual Report.
      Alexandra Askandar              Permanent Voting Member               Vice President Director
      Ahmad Siddik Badruddin          Permanent Voting Member               Director of Risk Management
      Panji Irawan                    Permanent Voting Member               Director of Treasury & Internal
                                                                            Banking
      Aquarius Rudianto               Permanent Voting Member               Director of Network & Retail
                                                                            Banking
      Susana Indah Kris Indriati      Permanent Voting Member               Director of Corporate Banking
      Sigit Prastowo                  Permanent Voting Member               Director of Finance & Strategy




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GOVERNANCE                    & PRACTICES                             RESPONSIBILITY                                  STATEMENTS 2023




                                                                                                            BUSINESS COMMITTEE


                  Name                   Position in the Committee              Position in the Company           Educational Background
 Arief Ariyana                      Permanent Voting Member               SEVP Corporate Banking             The Educational Background is
                                                                                                             presented at the Senior Executive
 Yusak L. S. Silalahi               Permanent Voting Member               SEVP Wholesale Risk                Profile section in this Annual Report.
 Josephus Koernianto Triprakoso     Permanent Voting Member               SEVP Micro & Consumer Finance




 Business Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Business Committee has been regulated in
 the Board of Directors Decree No. KEP.DIR/15/2022, which contains:
 1. Purpose of the committee establishment
 2. Duties, responsibilities, and authority of the committee
 3. Structure and membership of the committee
 4. Committee meetings, quorum and decision making
 5. Committee reporting

 Duties and Responsibilities Description of Business Committee
 The BC has the following duties and responsibilities:

 BC Category A
 1. To discuss and determine the Company’s business strategy in the Wholesale and Retail segments, including the
    business strategies of the Subsidiaries.
 2. To discuss, evaluate, and determine the business development of the Wholesale and Retail segments in an integrated
    manner, including the development/update of products of both credit and non-credit, business processes, rates,
    infrastructure and marketing communication infrastructure and business supporting technology.
 3. To discuss, evaluate and determine business strategies with the Company’s anchor clients.
 4. To monitor and evaluate the results of strategic performance and business initiatives/projects in the Wholesale and
    Retail segments.
 5. To discuss and resolve strategic business problems including alliances between the Company’s work units and
    alliances with Subsidiaries or entities under the control of the Company.
 6. To discuss, evaluate and determine the development and termination of products of both credit and non-credit,
    including digital banking products and services.
 7. To delegate authority to designated officials to decide and carry out operational business matters.

 BC Category B
 Discuss and determine the specific agenda of Management Limits.

 Duties Implementation of Business Committee in 2023
 In carrying out its duties and responsibilities, BC holds meetings at least 3 (three) times a year or at any time if it is
 necessary at the request of one or more committee members with voting members, or at the request of the Board of
 Directors, or upon a written proposal from the related unit by delivering discussion material and coordinating with the
 Committee Secretary.

 In 2023 BC has held 8 (eight) meetings with the following agenda:

  No.             Date                                      Agenda                                    Quorum Attendance (%)           Remark
   1     17 March 2023       Revoked and Compilation of SME Segment Product Manual                            100%                    Circular
   2     18 April 2023       Revision of Securities Collateral Credit Product Manual (KASB)                   100%                    Circular
   3     21 June 2023        Revision of Trade Financing Product Manual                                       100%                    Circular
   4     11 July 2023        Revision of Product Manual of Financing Facility To/Through Financing            100%                    Circular
                             Companies and Integration of Memorandum of Procedure for Co-
                             Financing Cooperation through Multifinance Subsidiaries
   5.    2 August 2023       Revision of Product Manual of (MP) Intraday Facility (IBFI) and Merger           100%                    Circular
                             of 6 MP Treasury




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             HIGHLIGHTS                   REPORT                                  PROFILE                          AND ANALYSIS




      BUSINESS COMMITTEE


       No.          Date                                     Agenda                                 Quorum Attendance (%)   Remark
        6.   2 October 2023     Product Manual Adjustment of Plantation Revitalization Vegetable            100%            Circular
                                Energy Development Credit (KPEN-RP) & Commercial Partnership
                                Plasma Financing
        7.   22 November 2023   Revision of the Notional Pooling (MNP) Independent Product Manual           100%            Circular
        8.   30 November 2023   Update on Product Manual (MP) of Mandiri Tabungan Mitra Usaha               100%            Circular
                                (TabunganMU)



      Business Committee Works Plan in 2024
      BC has established works plan that will be discussed through meetings at least 3 (three) times in one year. The BC works
      plan for 2024 include:
      1. Discuss and determine the Company’s business strategy for the Wholesale and Retail segments, including the
         business strategies of the Subsidiaries.
      2. Discuss, evaluate and determine business strategies with the Company’s anchor clients.
      3. Monitor and evaluate the results of strategic performance and business initiatives/projects in the Wholesale and
         Retail segments.




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GOVERNANCE                   & PRACTICES                              RESPONSIBILITY                                    STATEMENTS 2023




                   CAPITAL & SUBSIDIARIES COMMITTEE
 The Capital & Subsidiaries Committee (CSC) was established to assist the Board of Directors in managing capital of the
 Company, and stipulating the management strategies of the Subsidiaries including equity participant, capital divestment,
 determination of members of the Board of Directors and/or members of the Board of Commissioners for subsidiaries, as well
 as remuneration for members of the Board of Directors and/or members of the Board of Commissioners for subsidiaries.

 Structure and Membership of the Capital & Subsidiaries Committee
 Based on the Board of Directors Decree No. KEP.DIR/021/2022 dated 28 June 2022 concerning the Capital and Subsidiaries
 Committee, the structure and membership of CSC are as follows:

 Capital & Subsidiaries Committee Membership Composition
 Chairman                     President Director
 Secretary I                  Group Head Strategic Investment & Subsidiaries Management
 Secretary II                 Group Head Strategy Performance and Management
 Secretary III                Group Head Credit Portfolio Risk
 Voting Members
                              1.   President Director
                              2.   Vice President Director
 Permanent Voting Members
                              3.   Director of Risk Management
                              4.   Director of Finance and Strategy
 Non-Permanent Voting         Members of Board of Directors/SEVP related to the matters present as invitee
 Member
 Permanent Non-Voting         Director of Compliance & HR or Compliance & AML-CFT Group Head or appointed Compliance & AML-CFT Group
 Member                       executives
 Contributing Non-Voting      1. Group Head/other Group Head level in relation to committee agenda
 Member                       2. Committee Secretary
                              1. SEVP Internal Audit*) or Group Head in Internal Audit or Internal Audit executives present as permanent invitee
                                 without voting rights.
                              2. *) In this event the material discussed in the Committee is the material proposed by the SEVP Internal Audit, the
 Invitee Non-Voting Member
                                 SEVP Internal Audit acts as a Voting Member.
                              3. Executives of operational risk, namely Senior Operational Risk Head in relation to committee agenda present as
                                 invitee non-voting member.


 Capital & Subsidiaries Committee Profile
 The Capital & Subsidiaries Committee members’ profile as of 31 December 2022 is as follows:

                Name                    Position in the Committee                Position in the Company             Educational Background
 Darmawan Junaidi             Chairman/Permanent Voting Member               President Director                  The Educational Background
                                                                                                                 is presented on the Board of
 Alexandra Askandar           Permanent Voting Members                       Vice President Director             Directors Profile section in this
 Ahmad Siddik Badruddin       Permanent Voting Members                       Director of Risk Management         Annual Report.

 Sigit Prastowo               Permanent Voting Members                       Director of Finance & Strategies



 Capital & Subsidiaries Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Capital & Subsidiaries Committee has been
 regulated in the Board of Directors Decree No. KEP.DIR/021/2022, which contains:
 1. Purpose of the committee establishment
 2. Duties, responsibilities, and authority of the committee
 3. Structure and membership of the committee
 4. Committee meetings, quorum and decision making
 5. Committee reporting




                                                                                                                         ANNUAL REPORT 2023          689
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             HIGHLIGHTS                   REPORT                                   PROFILE                              AND ANALYSIS




      CAPITAL & SUBSIDIARIES COMMITTEE



      Duties and Responsibilities of the                                      7. The authority of CSC as stipulated in points 5 and 6
      Capital & Subsidiaries Committee                                            without prejudice to the authority of the Meeting of the
      The following are CSC’s duties and responsibilities:                        Board of Directors to continue to be able to decide
      1. Discuss, recommend, and establish the Company’s                          the candidacy/nomination of members of the Board
         capital management strategy including a corporate                        of Directors and Board of Commissioners of Subsidiaries
         action plan and planning an optimal capital structure                    and companies under the control of the Subsidiaries.
         to maintain the Company’s capital position above                     8. Discuss, recommend, and approve the Corporate
         the minimum requirements.                                                Work Plans and Budget (RKAP) of the Subsidiaries
      2. Establish strategies and limits on the management of                     including companies that are under the control of
         Subsidiaries including companies under the control of                    the Subsidiaries, if necessary.
         the Subsidiaries, if necessary.                                      9. Discuss, recommend, determine/terminate the
      3. Discuss, recommend and approve the Subsidiary’s                          implementation, as well as the agenda of the
         capital participation plan including additional capital                  General Meeting of Shareholders (GMS) of the
         participation and disposal of capital participation/                     Subsidiaries including companies under the control
         divestment.                                                              of the Subsidiaries, if necessary, as well as decide
      4. Evaluate and discuss the financial performance of the                    on applications or other proposals that require the
         Subsidiaries including companies under the control of                    decision of the Company as a Shareholder.
         the Subsidiaries, if necessary.                                      10. Establish a Power of Attorney to represent the Company
      5. Discuss, recommend, and approve remuneration                             as a Shareholder in a Subsidiary (Shareholders’ Proxi).
         (including salary, honorarium, benefits and facilities)
         of members of the Board of Directors and Board of                    Duties Implementation of Capital
         Commissioners of Subsidiaries including companies                    & Subsidiaries Committee
         under the control of the Subsidiaries, if necessary, which           In carrying out its duties and responsibilities, the CSC holds
         have been recommended by the Human Capital unit                      at least 3 (three) times a year or at any time as necessary
         in charge of remuneration materials.                                 at the request of one or more committee members
      6. Discuss, recommend, and approve the candidacy/                       with voting members, or at the request of the Board of
         nomination of members of the Board of Directors                      Directors, or upon a written proposal from the related unit
         and/or Board of Commissioners of Subsidiaries and                    by delivering discussion material and coordinating with
         members of the Board of Directors and/or Board of                    the Committee Secretary.
         Commissioners of the companies who are under
         the control of the Subsidiaries, if necessary, while still
         referring to the Company’s Articles of Association.

      Throughout 2023, CSC has held 25 (twenty five) meetings including through circulars, with the following agenda:

                                                                                                                     Quorum   Description (No
       No.       Meeting Date                  2023 CSC Meeting Agenda (Circular & Non Circular)
                                                                                                                       (%)        CSC)
         1    6 March 2023       Approval of the Shareholder Agreement (SHA) Change Plan and Articles of              100%
                                 Association (AD) of PT Mandiri AXA General Insurance (MAGI) and Release of Bank
                                 Mandiri's Control Status on MAGI (Non Circular)
         2    30 March 2023      Approval of CSC Circular Decision Making on the Agenda and Time of the               100%
                                 Annual General Meeting of Shareholders for Financial Year 2022 of PT Bank Syariah
                                 Indonesia Tbk.
         3    30 March 2023      Approval of CSC Circular Decision Making on the Agenda and Materials of the          100%
                                 Extraordinary General Meeting of Shareholders of PT Mandiri Tunas Finance
         4    10 April 2023      Approval of CSC Circular Decision Making on Changes in Management and                100%
                                 Supervisory of Subsidiaries
         5    12 April 2023      Approval of CSC Circular Decision Making on Changes in Management and                100%
                                 Supervisory of Subsidiaries
         6    17 April 2023      Approval of CSC Circular Decision Making on the Agenda and Materials of the          100%
                                 Annual General Meeting of Shareholders for Financial Year 2022 of PT Mandiri
                                 Sekuritas
         7    17 April 2023      Sydney Project Approval (Non Circular)                                               100%
         8    15 May 2023        Approval of CSC Circular Decision Making on the Agenda and Materials of the          100%
                                 Annual General Meeting of Shareholders ('AGMS") for Fiscal Year 2022 of PT Bank
                                 Syariah Indonesia Tbk. ("BSI")




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GOVERNANCE                      & PRACTICES                             RESPONSIBILITY                                 STATEMENTS 2023




                                                                                     CAPITAL & SUBSIDIARIES COMMITTEE


                                                                                                                     Quorum   Description (No
      No.      Meeting Date                   2023 CSC Meeting Agenda (Circular & Non Circular)
                                                                                                                       (%)        CSC)
       9    22 May 2023         Approval of CSC's Circular Decision Making on the Agenda and Materials of the         100%
                                Annual General Meeting of Shareholders ('AGMS")Fiscal Year 2022 of the Company's
                                Subsidiaries
      10    15 May 2023         Proposed Approval of Changes in Management and Supervisory of Subsidiaries            100%
                                (Non-Circular)
      11    29 May 2023         Approval of CSC Circular Decision Making on the Agenda and Materials of the           100%
                                Annual General Meeting of Shareholders ("AGMS") for Fiscal Year 2022 of PT Mandiri
                                Capital Indonesia
      12    5 June 2023         Approval of CSC Circular Decision Making on the Agenda and Materials of the           100%
                                Annual General Meeting of Shareholders ("AGMS") for Fiscal Year 2022 of PT Mandiri
                                Utama Finance.
      13    5 June 2023         Project Melbourne Approval                                                            100%
      14    12 June 2023        Approval of CSC Circular Decision Making on the Agenda and Materials of the           100%
                                Annual General Meeting of Shareholders ("AGMS") for Financial Year 2022 Bank
                                Mandiri (Europe) Limites ("BMEL")
      15    19 June 2023        Approval of CSC Circular Decision Making on Changes in Management and/or              100%
                                Supervisory of PT Mandiri Capital Indonesia and PT Mitra Transaksi Indonesia
      16    19 June 2023        Approval of CSC Circular Decision Making on Changes in PT Mandiri Utama Finance       100%
                                Supervisory and PT Bank Mandiri Taspen Change Reporting
      17    26 July 2023        Approval of CSC Circular Decision Making on the Agenda and Materials of               100%
                                the Extraordinary General Meeting of Shareholders of PT Asuransi Jiwa Inhealth
                                Indonesia
      18    1 August 2023       Approval of CSC Circular Decision Making on the Determination of Proposed             100%
                                Remuneration for the Board of Directors, Board of Commissioners, and Sharia
                                Supervisory Board of Subsidiaries and Grandchildren
      19    1 September 2023    Approval of the Principle Permit for the Implementation of Project Istambul           100%
      20    25 September 2023   Approval of CSC Circular Decision Making on the Agenda and Materials of the           100%
                                Extraordinary General Meeting of Shareholders of PT Mandiri Tunas Finance
      21    16 October 2023     Approval of CSC Circular Decision Making on the Agenda and Materials of the           100%
                                Extraordinary General Meeting of Shareholders of PT Bank Mandiri Taspen
      22    20 November 2023    Approval of CSC Circular Decision Making on Changes in Operation Director of          100%
                                Mandiri International Remittance Sdn. Bhd.
      23    20 November 2023    Approval of CSC Circular Decision Making on Changes in President Commissioner of      100%
                                PT Mandiri Utama Finance and Proxy of Shareholders of Subsidiaries
      24    4 December 2023     Circular Decision Approval from the CSC regarding the response to the offer of        100%
                                share divestment in the subsidiary.
      25    14 December 2023    Circular Decision Approval from the CSC regarding the plan for the separation of      100%
                                the Sharia Unit in the subsidiary.



 Capital & Subsidiaries Committee Works Plan in 2024

 1.    Subsidiaries Annual General Meeting Shareholders Plan
 2.    Subsidiaries Remuneration
 3.    Subsidiaries Extraordinary General Meeting Shareholders Plan
 4.    Subsidiaries Corporate Action
 5.    Change of Subsidiaries Boards

 Note : CSC implementation is carried out in accordance with the needs of the Subsidiaries




                                                                                                                         ANNUAL REPORT 2023     691
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            HIGHLIGHTS                   REPORT                                   PROFILE                                 AND ANALYSIS




      HUMAN CAPITAL POLICY COMMITTEE




             The Human Resources Policy Committee (HCPC) was established
             to assist the Board of Directors in stipulating the Company’s Human
             Capital management strategy, establishing and developing the
             organization, and setting the strategic direction of Human Capital
             Information System development.




      Structure and Membership of Human Capital Policy Committee
      Based on the Board of Directors’ decree No. KEP.DIR/018/2021 dated 12 March 2021, the structure of the Human Capital
      Policy Committee is as follows:

      Human Capital Policy Committee Member Structure
      Chairman                    President Director
      Secretary                   HC Performance & Remuneration Goup Head
      Alternate Secretary         HC Strategy & Talent Management Group Head
      Voting Members
                                  1.   President Director
                                  2.   Vice President Director
                                  3.   Director of Risk Management
      Permanent Voting Member     4.   Director of Information Technology
                                  5.   Director of Compliance & HR
                                  6.   Director of Network & Retail Banking
                                  7.   Director of Finance & Strategies
      Non-Permanent Voting        Member of the Board of Directors/ SEVP related to the material present as invitee.
      Member
      Permanent Non-Voting        Compliance & AML-CFT Group Head or Compliance & AML-CFT Group appointed Official must attend in
      Member                      Committee Meetings
      Contributing Non-Voting     1. Group Head/ other Group Head level related to the material of the committee agenda
      Member                      2. Committee Secretary
                                  1. SEVP Internal Audit *) or SEVP Internal Audit or Internal Audit Directorate present as Permanent Non-Voting
                                     Member
      Invitee Non-Voting Member
                                     *) In the event that the material discussed at the Committee is material proposed by the SEVP Internal Audit,
                                     the SEVP Internal Audit acts as a Voting Member.




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GOVERNANCE                    & PRACTICES                           RESPONSIBILITY                                         STATEMENTS 2023




                                                                                  HUMAN CAPITAL POLICY COMMITTEE




 Human Capital Policy Committee Profile
 The Human Capital Policy Committee members’ profile as of 31 December 2023 is as follows:

             Name                       Position in the Committee                   Position in the Company                Educational Background
 Darmawan Junaidi               Chairman/Permanent Voting Member             President Director                        The Educational Background
                                                                                                                       is presented in the Board of
 Alexandra Askandar             Permanent Voting Member                      Vice President Director                   Directors Profile section in this
 Ahmad Siddik Badruddin         Permanent Voting Member                      Director of Risk Management               Annual Report.

 Timothy Utama                  Permanent Voting Member                      Director of Information Technology
 Agus Dwi Handaya               Permanent Voting Member                      Director of Compliance & HR
 Aquarius Rudianto              Permanent Voting Member                      Director of Network & Retail Banking
 Sigit Prastowo                 Permanent Voting Member                      Director of Finance & Strategies



 Human Capital Policy Committee Charter                                       9. Determining and developing the organizations
                                                                                  including the fulfilment, development and training of
 Pursuant to POJK No. 17 of 2023 concerning the                                   Human Capital in accordance with the Company’s
 Implementation of Governance for Commercial Banks                                business needs.
 article 75 states that the Bank must have guidelines and                     10. Determining individual performance management
 committee work rules, where the Human Capital Policy                             and rewards, talent and succession management
 Committee has been regulated in the Board of Directors                           and employee relations.
 Decree No. KEP.DIR/005/2021, which contains:                                 11. Determining authority limits in carrying out Human
 1. Purpose of the committee establishment                                        Capital management.
 2. Duties, responsibilities, and authority of the committee                  12. Discussing and resolving strategic Human Capital
 3. Structure and membership of the committee                                     management problems.
 4. Committee meetings, quorum and decision making
 5. Committee reporting                                                       Duties Implementation of the Human
                                                                              Capital Policy Committee in 2023
 Human Capital Policy Committee                                               In carrying out its duties and responsibilities, the HCPC holds
 Duties and Responsibilities                                                  at least 3 (three) meetings a year or at any time if deemed
 HCPC’s duties and responsibilities including:                                necessary at the request of one or more committee
 6. Determining the strategic and operational directions                      members with voting members, or at the request of the
    for the management of Human Capital, including the                        Board of Directors, or upon a written proposal from the
    culture and values of the company.                                        related unit by delivering discussion material and to
 7. Determining the policies in the Subsidiaries, Pension                     coordinating with the Committee Secretary.
    Funds of Financial Institutions, Bank Mandiri Pension
    Funds, Foundations and Subsidiaries of the Subsidiaries.                  In 2023, the implementation of HCPC’s duties was carried
 8. Determining the strategic direction of developing the                     out through the discussion of employment and to be
    Human Capital Information System.                                         decided in the Board of Directors’ Meeting. The discussions
                                                                              were as follows:

  No.         Date                                        Agenda                                        Quorum Attendance (%)              Remark
   1    13 February 2023   Performance Bonus Allocation Proposal Year 2022                                          100%                       -
   2    20 February 2023   Annual People Performance Review dan Top Talent BoD-1 KBUMN 2023                         100%                       -
   3    15 May 2023        Salary Increment Tahun 2023                                                              100%                       -
   4    13 November        Lunar Stream 1: Create Business Leader                                                   100%                       -
        2023




 Human Capital Policy Committee Works Plan in 2024
 HCPC has set out the works plan to discuss the Human Capital policies/strategies, such as matters related to performance,
 reward, and talent management.




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            HIGHLIGHTS                   REPORT                                   PROFILE                                 AND ANALYSIS




      INFORMATION TECHNOLOGY & DIGITAL
      BANKING COMMITTEE




            The Information Technology & Digital Banking Committee (ITDC)
            was established to assist the Board of Directors in determining
            strategic matters within the scope of IT.




      Structure and Membership of Information Technology & Digital Banking Committee
      Based on the Decree of the Board of Directors No. KEP.DIR/062/2021 dated 24 November 2021 on Information Technology
      and Digital Banking Committee, Structure and Membership of ITDC as follows

      ITDC Members Composition

      ITDC Category A
      Chairman                    President Director
      Secretary                   IT Strategy & Architecture Group Head
      Alternate Secretary         IT Application Development Group Head
      Voting Members
                                  1.   President Director
                                  2.   Director of Risk Management
      Permanent Voting Members    3.   Director of Information Technology
                                  4.   Director of Finance & Strategies
                                  5.   SEVP Information Technology
      Non-Permanent Voting        Board of Directors Member / SEVP related to the material present as invitee
      Members
      Permanent Non-Voting        Director of Compliance & HR or Compliance & AML-CFT Group Head or Compliance & AML CFT appointed
      Members                     executives.
                                  1. SEVP Internal Audit*) or Internal Audit Group Head or Internal Audit Directorate official present as invitee.
                                     *) In the event that the material discussed at the Committee is material proposed by the SEVP Internal Audit,
      Invitee                        the SEVP Internal Audit acts as a Voting Member.
                                  2. Executives of Operational Risk, which is the Operational Risk Senior Head related to the material of the
                                     Committee Agenda present as an invitee.
      Contributing Non-Voting     1. Group Head/other Group Head level related to the material.
      Members                     2. Committee Secretary




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GOVERNANCE                  & PRACTICES                            RESPONSIBILITY                                      STATEMENTS 2023




                                  INFORMATION TECHNOLOGY & DIGITAL BANKING COMMITTEE




 ITDC Category B
 Chairman                      President Director
 Secretary                     IT Strategy & Architecture Group Head
 Alternate Secretary           IT Application Development Group Head
 Voting Members
                               1. Director of Information Technology
 Permanent Voting Members      2. Director of Finance & Strategies
                               3. SEVP Information Technology
 Non-Permanent Voting          Board of Directors Member / SEVP related to the material present as invitee
 Members
 Permanent Non-Voting          Director of Compliance & HR or Compliance & AML-CFT Group Head or Compliance & AML CFT appointed
 Members                       executives.
                               1. SEVP Internal Audit*) or Internal Audit Group Head or Internal Audit Directorate official present as invitee.
                                  In the event that the material discussed at the Committee is material proposed by the SEVP Internal Audit, the
 Invitee                          SEVP Internal Audit acts as a Voting Member.
                               2. Executives of Operational Risk, which is the Operational Risk Senior Head related to the material of the
                                  Committee Agenda present as an invitee.
 Contributing Non-Voting       1. Group Head/other Group Head level related to the material.
 Members                       2. Committee Secretary



 Information Technology & Digital Banking Committee Members’ Profile
 The Information Technology & Digital Banking Committee members profile as of 31 December 2023 is as follows:

 ITDC Category A
             Name                  Position in the Committee                  Position in the Company               Educational Background
 Darmawan Junaidi           Chairman/Permanent Voting Member           President Director                       The Educational Background
                                                                                                                is presented in the Board of
 Ahmad Siddik Badruddin     Permanent Voting Member                    Director of Risk Management              Directors’ Profile section in this
 Timothy Utama              Permanent Voting Member                    Director of Information Technology       Annual Report.

 Sigit Prastowo             Permanent Voting Member                    Director of Finance & Strategies
 Daniel Setiawan Subianto   Permanent Voting Member                    SEVP Information Technology              The Educational Background is
                                                                                                                presented in the Senior Executive
                                                                                                                Profile section in this Annual
                                                                                                                Report.


 ITDC Category B
             Name               Position in the Committee              Position in the Company                   Educational Background
 Timothy Utama              Permanent Voting Member              Director of Information Technology       The Educational Background is
                                                                                                          presented in the Board of Directors’
 Ahmad Siddik Badruddin     Permanent Voting Member              Director of Risk Management              Profile section in this Annual Report.
 Daniel Setiawan Subianto   Permanent Voting Member              SEVP Information Technology              The Educational Background is
                                                                                                          presented in the Senior Executive
                                                                                                          Profile section in this Annual Report.


 Information Technology & Digital Banking Committee Charter
 Information Technology & Digital Banking Committee Charter In accordance with POJK No. 17 of 2023 concerning the
 Implementation of Governance for Commercial Banks, article 75 states that Banks are required to have committee
 work guidelines and rules, where the Information Technology & Digital Banking Committee has been regulated in Board
 of Directors Decree No. KEP.DIR/062/2021, which contains:
 1. Purpose of establishing the committee
 2. Duties, responsibilities and authorities of the committee
 3. Committee structure and membership
 4. Committee meetings, quorums, and decision-making
 5. Committee Reporting




                                                                                                                        ANNUAL REPORT 2023           695
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            HIGHLIGHTS                    REPORT                           PROFILE                            AND ANALYSIS




      INFORMATION TECHNOLOGY & DIGITAL BANKING COMMITTEE




      Information Technology & Digital Banking                         ITDC Category B
      Committee Duties and Responsibilities                            Providing recommendations to the Board of Directors
      ITDC’s duties and responsibilities related to Information        regarding:
      Technology (IT) and Digital Banking are as follows:              1. Information Technology Strategic Plan in line with the
                                                                          strategic plan for the Bank’s business activities.
      ITDC Category A                                                  2. Formulation of key Information Technology policies,
      1. Duties, authorities and responsibilities related to IT:          standards and procedures.
         a. Determining the results of recommendations from            3. The conformity between the approved Information
            ITDC category B.                                              Technology project and strategic plan.
         b. Setting priorities and allocation of IT budgets that       4. The conformity of the implementation of the
            had been decided by the Board of Directors.                   Information Technology project with the agreed
         c. Deciding or providing direction regarding the                 project plan (project charter).
            planning, development and addition of strategic            5. The conformity between Information Technology and
            IT systems.                                                   the needs of management information systems and
         d. Establishing a strategy and action plan for projects          the Bank’s business activities.
            and their budgets.                                         6. The effectiveness of steps in minimizing the risk of
         e. Discussing and resolving strategic issues within IT           the Bank’s investment in the Information Technology
            scope, as well as the direction of investment in the          sector so that the Bank’s investment in the Information
            IT sector (including if IT synergies with subsidiaries        Technology sector contributed to the achievement
            were needed).                                                 of business goals.
         f. Delegating authority to appointed officials to             7. Monitoring of Information Technology performance
            decide and implement matters of an IT operational             and efforts to improve Information Technology
            things.                                                       performance.
         g. Ensuring the availability of an effective information      8. Efforts to resolve various problems related to
            security management system communicated to                    Information Technology that could not be resolved
            the work units for users and operators of Information         by the work units of Information Technology users and
            Technology.                                                   administrators in an effective, efficient and timely
      2. Duties, authorities and responsibilities related to Digital      manner.
         Banking:                                                      9. Adequacy and allocation of resources owned by
         a. Discussing, determining and/or providing                      the Bank.
            recommendations to the Board of Directors at
            least related to:                                          Meetings Frequency and Attendance
            • Roadmap/strategy to deliver Digital Banking              Board of Director & SEVP
                 capabilities that support the Bank’s business         In carrying out its duties and responsibilities, the ITDC holds
                 strategy.                                             at least 3 (three) times a year or at any time if deemed
            • Planning, development and execution of                   necessary at the request of one or more committee
                 strategic digital banking initiatives.                members with voting members, or at the request of the
            • Benefits obtained when the Digital Banking               Board of Directors or upon a written proposal from the unit
                 Initiative was implemented (but not limited).         work related to delivering material to be discussed and
            • Constraints that might arise in implementing             coordinating with the Committee Secretary.
                 the Digital Banking Initiative.
         b. Ensuring and monitoring the implementation of
            the Digital Banking Initiative including if there was
            a need in marketing/roll-out strategy, risks that
            might arise, compliance and regulatory aspects
            of Digital Banking.
         c. Delegating authority to appointed officials to
            decide and carry out Digital Banking operational
            matters.




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GOVERNANCE                  & PRACTICES                             RESPONSIBILITY                                STATEMENTS 2023




                                  INFORMATION TECHNOLOGY & DIGITAL BANKING COMMITTEE



 Duties Implementation of Information Technology & Digital Banking Committee 2023
  No            Date                                   Decision                                Quorum Attendance (%)        Description
   1    24 January 2023     Recommendation of CAPEX IT Allocation Consent Proposal 2023                100%            Circular Category B
                            and Project IT 2023 Consent of ITDC Authority to ITDC Category A
   2    24 January 2023     CAPEX IT 2023 Allocation Consent Proposal and Project IT Consent           100%            Circular Category A
                            2023 ITDC Authority
   3    23 May 2023         Recommendation for Livin' 2.0 Next Release Initiative Addendum             100%            Circular Category B
                            Proposal to ITDC Category A
   4    23 May 2023         Approval of Livin' 2.0 Next Release Initiative Addendum Proposal           100%            Circular Category A
   5    14 June 2023        Recommendation for the Proposed Information Technology                     100%            Circular Category B
                            Development Plan (LRPTI) Report for the June 2023 Revised Period
                            to OJK to ITDC Category A
   6    14 June 2023        Approval of the Proposed Information Technology Development                100%            Circular Category A
                            Plan Report (LRPTI) for the June 2023 Revised Period to OJK
   7    25 September 2023   Proposed Recommendation for Operations Processing Shared                   100%            Circular Category B
                            Services (Orion) Project to ITDC Circular Category A
   8    25 September 2023   Approval of the Proposed Operations Processing Shared Services             100%            Circular Category A
                            (Orion) Project
   9    20 November 2023    Proposed Recommendations for the Allocation of IT CAPEX                    100%            Circular Category B
                            2024, ITDC Authority IT Project 2024, and Information Technology
                            Development Plan Report (LRPTI) 2024 to ITDC Circular
                            Category A
   10   20 November 2023    Approval of Proposals for the Allocation of CAPEX IT 2024, IT              100%            Circular Category A
                            2024 ITDC Authority, and Information Technology Development
                            Plan Report (LRPTI) 2024
   11   7 December 2023     Recommendation on Proposed Confirmation related to IT                      100%            Circular Category B
                            Coordination Strategy & Execution Plan (ISP) 2020 – 2024 to
                            ITDC Circular Category A
   12   7 December 2023     Consent on the Proposed Confirmation of IT Coordination                    100%            Circular Category A
                            Strategy & Execution Plan (ISP) 2020 – 2024


 Information Technology & Digital Banking Committee Works Plan in 2024
 ITDC sets the works plan that will be discussed in meetings at least 3 (three) times in a year. The ITDC work plan for 2024
 includes:
 1. Information Technology Strategic Plan
 2. Development/Alignment of IT Initiative Portfolio
 3. IT Development Plan Report
 4. Capabilities Architecture Update




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            HIGHLIGHTS                     REPORT                                   PROFILE                                AND ANALYSIS




      INTEGRATED RISK COMMITTEE




            The Integrated Risk Committee (IRC) was established to assist the
            Board of Directors in the formulation and improvement of the
            Integrated Risk Management policy based on the results of the
            implementation assessment.




      Structure and Membership of Integrated Risk Committee

      Based on the Board of Directors’ decree No. KEP.DIR/006/2021 dated 13 January 2021 concerning the Integrated Risk
      Committee, the composition and membership of IRC are as follows:

      Integrated Risk Committee Member Composition
      Chairman                        Director of Risk Management
      Secretary                       Credit Portfolio Risk Group Head
      Alternate Secretary I           Market Risk Group Head
      Alternate Secretary II          Operational Risk Group Head
                                      1.   Director of Risk Management
                                      2.   Director of Information Technology
      Company Permanent Member
                                      3.   Director of Operations
      (Bank Mandiri)
                                      4.   Director of Finance and Strategies
                                      5.   SEVP Wholesale Risk
                                      1.   Director in charge of the Risk Management function of Bank Syariah Indonesia
                                      2.   Director in charge of the Risk Management function of Mandiri Sekuritas
      Subsidiary Permanent Member
                                      3.   Director in charge of the Risk Management function of Mandiri Tunas Finance
                                      4.   Director in charge of the Risk Management function of AXA Mandiri Financial Services
      Non-permanent Member            1. Members of the Board of Directors/SEVP of the Company other than the Permanent Members of the
      (According to Discussion           Company
      Materials)                      2. Director of Subsidiary other than Permanent Member from Subsidiary
                                      1. Group Head/other Group Head level from the Company and its Subsidiaries invited in relation to the
      Contributing Member                material of the committee agenda
                                      2. Committee Secretary
                                      1. Director of Compliance & HR or Compliance & AML-CFT Group Head or the appointed Compliance &
                                         AML-CFT Group Officer of the Company
                                      2. SEVP Internal Audit or Internal Audit Group Head or Internal Audit Officers present as permanent invitees
      Invitee
                                         from the Company
                                      3. Executives in operational risk, namely the Senior Operational Risk Head related to the material of the
                                         committee agenda present as a permanent invitee from the Company




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                                                                                                 INTEGRATED RISK COMMITTEE




 Integrated Risk Committee Members’ Profile

 The Integrated Risk Committee members profile as of 31 December 2023 is as follows:

            Name                           Position                                Description                        Educational Background
 Ahmad Siddik Badruddin     Chairman and Permanent Member of          Director of Risk Management                The Educational Background is
                            the Company                                                                          presented in the Board of Directors’
                                                                                                                 profile in this Annual Report.
 Timothy Utama              Permanent Member of the Company           Director of Information Technology
 Toni E. B. Subari          Permanent Member of the Company           Director of Operations
 Sigit Prastowo             Permanent Member of the Company           Director of Finance & Strategies
 Adi Pranantias             Permanent Member of the Company           SEVP Wholesale Risk                        The Educational Background is
                                                                                                                 presented in the Senior Executive
                                                                                                                 profile in this Annual Report.


 Integrated Risk Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Integrated Risk Committee has been regulated
 in the Board of Directors Decree No. KEP.DIR/006/2021, which contains:
 a. Purpose of the committee establishment
 b. Duties, responsibilities, and authority of the committee
 c. Structure and membership of the committee
 d. Committee meetings, quorum and decision making
 e. Committee reporting

 Integrated Risk Committee Duties and Responsibilities
 In carrying out its functions, IRC provides recommendations to the Directors regarding:
 1. Adequacy of the integrated identification, measurement, monitoring, risk control process, and Integrated Risk
     Management information system.
 2. A comprehensive internal control system on the implementation of Integrated Risk Management.
 3. Implementation of Risk Management in each Subsidiary.
 4. Anything else required to formulate or evaluate the Integrated Mandiri Group Terms

 Duties Implementation of Integrated Risk Committee in 2023
 In carrying out its duties and responsibilities, IRC holds at least 3 (three) meetings a year or at any time if deemed
 necessary at the request of the Permanent Members from the Company, or at the request of the Permanent Members
 from the Subsidiaries by submitting discussion material and to coordinating with the Committee Secretary.

 In 2023, IRC has provided recommendations through 7 (seven) meetings and 4 (four) circulars, with the following details:

                                                                                                           Quorum Attendance
  No.                Date                                    Agenda                                                                    Information
                                                                                                                  (%)
   1     17 January 2023     Review of Investment Management Independent Soundness Rating                 100%                      Online Meeting
                             (MMI) Methodology
   2     2 February 2023     Self-Assessment of Bank Mandiri's Integrated Risk Profile and Risk-Based     100%                      Online Meeting
                             Rating (RBBR)/Soundness Rating on a Consolidated basis for the Second
                             Semester of 2022 period
   3     31 March 2023       Submission of Recommendations on Mandiri Group's Consolidated                100%                      Online Meeting
                             Counterparty Limit (CCL) Framework and Calculation Formula
   4     14 April 2023       Self-Assessment of Bank Mandiri's Individual and Consolidated Risk Profile   100%                      Online Meeting
                             for the First Quarter of 2023
   5     27 June 2023        Review of Methodology of Subsidiary's Soundness Rating in the                -                         Circular
                             framework of Methodology Review of Integrated Risk Profile and Risk-
                             Based Bank Rating (RBBR)/Soundness Rating of Bank Mandiri on a
                             Consolidated basis




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             HIGHLIGHTS                    REPORT                                    PROFILE                              AND ANALYSIS




      INTEGRATED RISK COMMITTEE




                                                                                                             Quorum Attendance
       No.          Date                                         Agenda                                                             Information
                                                                                                                    (%)
        6    2 August 2023      Self-Assessment of Bank Mandiri's Integrated Risk Profile and Risk-Based     100%                Online Meeting
                                Rating (RBBR)/Soundness Rating on a Consolidated basis for the first
                                semester of 2023
        7    14 October 2023    Self-Assessment of Bank Mandiri's Individual and Consolidated Risk Profile   100%                Online Meeting
                                for the Third Quarter of 2023
        8    9 November 2023    Submission of Recommendations for Consolidated Counterparty Limit            100%                Online Meeting
                                (CCL) and Bank Counterparties Universe Mandiri Group in 2024
        9    15 December 2023   Submission of Recommendations on the Revision of the Integrated              -                   Circular
                                Governance Guidelines
        10   15 December 2023   Submission of Recommendations on the Revision of the Independent             -                   Circular
                                Subsidiary Management Principles Guideline (MSMPG)
        11   15 December 2023   Review of Methodology of Subsidiary's Soundness Rating in the                -                   Circular
                                framework of Methodology Review of Integrated Risk Profile and Risk-
                                Based Bank Rating (RBBR)/Soundness Rating of Bank Mandiri on a
                                Consolidated basis



      Integrated Risk Committee Work Plan Year 2024

      IRC has set 2024 works plan that will be discussed through meetings at least 3 (three) times in one year, focusing on the
      following discussions:
      1. Adequacy of Integrated Risk Management.
      2. Adequacy of comprehensive internal control system on the implementation of Integrated Risk Management.
      3. Implementation of Risk Management in each Subsidiary.
      4. Other matters needed in order to develop or evaluate the integrated Mandiri Group Stipulations.




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                          POLICY & PROCEDURE COMMITTEE




        The Policy & Procedure Committee (PPC) was established to assist
        the Board of Directors in stipulating the Company Regulations
        such as the Policies and/or procedures, as well as to assist in
        stipulating the granting of authority to the Company’s ex-officio
        executives.




 Structure and Membership of Policy & Procedure Committee
 Based on Directors Decree No. KEP. DIR/063/2021 dated 24 November 2021 concerning the Policy and Procedure
 Committee, the structure and membership of PPC are as follows:

 PPC Category A
  Chairman                                   Director of Risk Management
  Secretary                                  Policy and Procedure Group Head
  Alternate Secretary                        Compliance & AML-CFT Group Head
  Voting Members
                                             1.   Director of Risk Management
                                             2.   Director of Network and Retail Banking
  Permanent Voting Member
                                             3.   Director of Operations
                                             4.   Director of Finance & Strategies
  Non-Permanent Voting Member                Board of Directors Member/SEVP related to the material present as invitee.
                                             Director of Compliance & HR or Compliance & AML-CFT Group Head or appointed Compliance & AML-CFT
  Permanent Non-Voting Member
                                             Group to attend in Committee Meetings
                                             Group Head / other Group Head level invited in relation to the material of the Meeting Agenda.
  Contributing Non-Voting Member
                                             Corporate Secretary.
                                             Executives of Operational Risk, the Senior Operational Risk head, related to the material of the meeting
  Invitee
                                             agenda, present as invitee.
  1) In accordance with Directors' Decree No. KEP.DIR/041/2023 dated 27 October 2023




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              HIGHLIGHTS                            REPORT                                      PROFILE                                 AND ANALYSIS




      POLICY & PROCEDURE COMMITTEE



      PPC Category B
                          Chairman                      Director of Risk Management
                          Secretary                     Policy and Procedure Group Head
                  Alternate Secretary                   Compliance & AML-CFT Group Head
                    Voting Members
                                                        Director of Risk Management
                                                        Policy & Procedure Group Head
             Permanent Voting Member)                   Legal Group Head
                                                        Compliance & AML-CFT Group Head
                                                        Senior Operational Risk Head related to agenda materials.
           Non-Permanent Voting Member                  Board of Directors member / SEVP related to material present as invitee.
          Contributing Non-Voting Member                Group Head/other Group Head level invited in relation to the material of the committee agenda.
       1) In accordance with Directors' Decree No. KEP.DIR/041/2023 dated 27 October 2023



      Policy & Procedure Committee Members’ Profile
      The Policy & Procedure Committee members profile as of 31 December 2023 is as follows:

      PPC Category A
                  Name                                  Position                                 Description                       Educational Background
      Ahmad Siddik Badruddin            Chairman/Permanent Voting                  Director of Risk Management              The Educational Background is
                                        Member                                                                              presented in the Board of Directors’
                                                                                                                            profile section in this Annual Report.
      Aquarius Rudianto                 Permanent Voting Member                    Director of Network & Retail Banking
      Toni E. B. Subari                 Permanent Voting Member                    Director of Operations
      Sigit Prastowo                    Permanent Voting Member                    Director of Finance & Strategy           The Educational Background is
                                                                                                                            presented in the Board of Directors’
                                                                                                                            profile section in this Annual Report.



      PPC Category B
                 Name                                  Position                                  Description                       Educational Background
      Ahmad Siddik Badruddin          Chairman/Permanent Voting Member Director of Risk Management                          The Educational Background is
                                                                                                                            presented in the Board of Directors’
                                                                                                                            profile section in this Annual Report.
      Mardiana                        Permanent Voting Member                      Group Head Policy & Procedure            -
      Dedy Teguh Krisnawan            Permanent Voting Member                      Group Head Legal                         -
      Juliser Sigalingging            Permanent Voting Member                      Group Head Compliance & AML-CFT          -
      Syafelda Indrayuni              Permanent Voting Member                      Senior Operational Risk Head Corporate   -
                                                                                   Center related to material of the
                                                                                   committee agenda
      Mindha Erdismina*)              Permanent Voting Member                      Senior Operational Risk Head Wholesale   -
                                                                                   Banking related to material of the
                                                                                   committee agenda
      Jhon R.H. Pangaribuan**)        Permanent Voting Member                      Senior Operational Risk Head Wholesale   -
                                                                                   Banking related to material of the
                                                                                   committee agenda
      Tina Setiawati Sentoso          Permanent Voting Member                      SORH Distribution & Consumer related to -
                                                                                   material of the committee agenda




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                                                                                          POLICY & PROCEDURE COMMITTEE



              Name                                  Position                            Description                    Educational Background
 Rori Achir                       Permanent Voting Member                 Senior Operational Risk Head Operation   -
                                                                          related to material of the committee
                                                                          agenda
 Wafdan Metha Firdaus             Permanent Voting Member                 Senior Operational Risk Head             -
                                                                          Information Technology related to
                                                                          material of the committee agenda
  *) efective date from w09 January 2017 to 12 July 2023
  **) efective date from 13 July 2023



 Policy & Procedure Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Policy & Procedure Committee has been
 regulated in the Board of Directors Decree No. KEP.DIR/041/2023, which contains:
 a. Purpose of the committee establishment
 b. Duties, responsibilities, and authority of the committee
 c. Structure and membership of the committee
 d. Committee meetings, quorum and decision making
 e. Committee reporting
 Policy & Procedure Committee Duties & Responsibilities
 PPC’s duties, authorities, and responsibilities are the following:
 1. PPC Category A
    a. To discuss and offer recommendations to the Board of Directors the preparation and/or adjustment/improvement of:
        • Mandiri Group Principles Guideline (MGPG)
        • Mandiri Subsidiaries Management Principle Guideline (MSMPG)
        • Company policies outside of Risk Management Policy and Credit Policy
    b. To discuss and determine upon the granting of authority to Company officials on an ex-officio basis.
    c. To discuss and offer recommendation to the Board of Commissioners in compiling and/or adjusting/improving
        the Integrated Governance Guidelines (TKT).
 2. PPC Category B:
    a. To discuss and determine the preparation and/or adjustment/improvement of the Company’s procedures.
    b. To discuss and decide upon the granting of authority to Company official’s ex-officio other than those under
        PPC Category A

 Duties Implementation of Policy & Procedure Committee in 2023
 In carrying out its duties and responsibilities, PPC holds at least 3 (three) meetings a year or at any time if deemed
 necessary at the request of one or more committee members with voting rights (Voting Member) or at the request of
 the Board of Directors or on a written proposal from the Board of Directors. related work units to deliver material to be
 discussed and coordinate with the Committee Secretary.

 PPC has used circular decision-making 49 (forty-nine) times in 2023. The following are the specifics:
 - PPC Category A with 3 decisions.
 - PPC Category B with 46 decisions.

                                                                                                                Quorum
  No.          Meeting Date                                          Agenda                                                         Information
                                                                                                            Attendance (%)
 1.      11 January 2023                 SPO Branch and SPO Office Network                                  100%              PPC B - Circular
 2.      16 January 2023                 SPO Customer Complaint Management                                  100%              PPC B - Circular
 3.      17 January 2023                 Recovery Plan Standard Procedures                                  100%              PPC B - Circular
 4.      30 January 2023                 Loan Standard Procedures (SPK) for Small Medium Enterprise (SME)   100%              PPC B - Circular
 5.      16 February 2023                Corporate Secretary Standard Procedures                            100%              PPC B - Circular
 6.      17 February 2023                Standard Procedures for Management of Subsidiary Company           100%              PPC B - Circular
                                         (SPPPA)
 7.      04 April 2023                   SPO Credit Operation (SPO CO) Wholesale                            100%              PPC B - Circular




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             HIGHLIGHTS                 REPORT                                   PROFILE                         AND ANALYSIS




      POLICY & PROCEDURE COMMITTEE


                                                                                                    Quorum
       No.        Meeting Date                                     Agenda                                              Information
                                                                                                Attendance (%)
      8.     06 April 2023        SPO Information Technology                                    100%             PPC B - Circular
      9.     06 April 2023        SPO Accreditation of Credit Partners                          100%             PPC B - Circular
      10.    17 from 2023         SPK Corporate, SPK Commercial dan SPK FI                      100%             PPC B - Circular
      11.    22 May 2023          SPO Document Management                                       100%             PPC B - Circular
      12.    22 May 2023          Treasury, Funds, and Services Policy (KTDJ)                   100%             PPC A - Circular
      13.    08 June 2023         Internal Control Policy (KICN)                                100%             PPC A - Circular
      14.    08 June 2023         Legal, Compliance and Anti-Money Laundering and Countering    100%             PPC A - Circular
                                  the Financing of Terrorism (KHKA) Policy
      15.    14 June 2023         SPK Micro                                                     100%             PPC B - Circular
      16.    14 June 2023         SPO Credit Collection & Recovery Retail                       100%             PPC B - Circular
      17.    23 June 2023         SP Anti-Money Laundering and Countering the Financing of      100%             PPC B - Circular
                                  Terrorism
      18.    05 July 2023         Capital Adequacy Calculation Standard Procedures              100%             PPC B - Circular
      19.    06 July 2023         SPO Procurement                                               100%             PPC B - Circular
      20.    14 July 2023         SPO Fund Products                                             100%             PPC B - Circular
      21.    17 July 2023         SPO Overseas Branch                                           100%             PPC B - Circular
      22.    31 July 2023         SPO Policy and Procedure Preparation                          100%             PPC B - Circular
      23.    31 July 2023         SPO Model Management                                          100%             PPC B - Circular
      24     03 August 2023       SPK Micro & SPO Credit Collection & Recovery Retail           100%             PPC B - Circular
      25.    14 August 2023       SPK Corporate                                                 100%             PPC B - Circular
      26.    25 August 2023       SPO Information Technology                                    100%             PPC B - Circular
      27.    28 August 2023       Internal Audit Standard Procedures                            100%             PPC B - Circular
      28.    01 September 2023    Manual Policy & Procedures (PPM) of IT security Policy BMHK   100%             PPC B - Circular
      29.    05 September 2023    SPO Fund Products                                             100%             PPC B - Circular
      30.    26 September 2023    Accounting Standard Procedures                                100%             PPC B - Circular
      31.    26 September 2023    SPO Digital Banking Services (LPD)                            100%             PPC B - Circular
      32.    03 October 2023      SPO Wealth Management Services                                100%             PPC B - Circular
      33.    03 October 2023      Standard Procedures for Implementing Risk Based Bank Rating   100%             PPC B - Circular
                                  (RBBR)
      34.    17 October 2023      SPO Performance Management                                    100%             PPC B - Circular
      35.    06 October 2023      SPK Small Medium Enterprise                                   100%             PPC B - Circular
      36.    15 November 2023     SPK Consumer                                                  100%             PPC B - Circular
      37.    23 November 2023     SPK Commercial                                                100%             PPC B - Circular
      38.    23 November 2023     SPK Corporate & Financial Institutions                        100%             PPC B - Circular
      39.    29 November 2023     SPO Procurement                                               100%             PPC B - Circular
      40.    29 November 2023     SPO Management of Transformation and Innovation               100%             PPC B - Circular
      41.    30 November 2023     SPO Fixed Immovable Assets (ATTB)                             100%             PPC B - Circular
      42.    07 December 2023     SPO Credit Collection Recovery Wholesale                      100%             PPC B - Circular
      43.    14 December 2023     SPO Customer Service                                          100%             PPC B - Circular
      44.    14 December 2023     SPO Marketing Communication Products & Services               100%             PPC B - Circular
      45.    15 December 2023     Legal Standard Procedure (SPH)                                100%             PPC B - Circular
      46.    15 December 2023     SPO Cash Management                                           100%             PPC B - Circular
      47.    19 December 2023     SPO Credit Operation Retail                                   100%             PPC B - Circular
      48.    19 December 2023     SP Asset Liability Management                                 100%             PPC B - Circular
      49.    20 December 2023     Corporate Secretary Standard Procedures                       100%             PPC B - Circular




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                                                                      POLICY & PROCEDURE COMMITTEE



 Policy & Procedure Committee Works Plan in 2024
 PPC has set the works plan that will be deliberated through meetings of at least 3 (three) times in a year. The following
 are PPC works plan for 2024:
 1. Adjustment/refinement of Mandiri Group Stipulations.
 2. Adjustment/refinement of Policies.
 3. Adjustment/refinement of the Company’s Standard Procedures adjusted with regulatory and business/operational
    needs.




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            HIGHLIGHTS                      REPORT                                   PROFILE                                  AND ANALYSIS




      RISK MANAGEMENT & CREDIT POLICY
      COMMITTEE



            The Risk Management & Credit Policy Committee (RMPC)
            was established to assist the Board of Directors in identifying,
            measuring, and monitoring risk, establishing risk management
            policies and strategies, formulating credit policies, overseeing
            the implementation of credit policies, monitoring the
            development and condition of the credit portfolio, and
            provide suggestions for improvement.




      Structure and Membership of Risk Management & Credit Policy Committee

      Based on the Board of Directors Decree No. KEP.DIR/009/2021 dated 13 January 2021 concerning Risk Management &
      Credit Policy Committee, the structure and membership of RMPC are as follows:



      RMPC – Risk Management Category A

      Chairman                        Vice President Director
      Secretary                       Credit Portfolio Risk Group Head
      Alternate Secretary I           Market Risk Group Head
      Alternate Secretary II          Operational Risk Group Head
      Voting Members
                                      1.   Vice President Director
                                      2.   Director of Risk Management
                                      3.   Director of Network & Retail Banking
      Permanent Voting Member
                                      4.   Director of Operations
                                      5.   Director of Finance & Strategies
                                      6.   SEVP Wholesale Risk
                                      1. Other Board of Directors Member related to the material present as invitee
      Non-Permanent Voting Member
                                      2. Other SEVPs related to the material present as invitee
                                      Director of Compliance & HR or Compliance & AML-CFT Group Head or appointed Compliance & AML-CFT
      Permanent Non-Voting Member
                                      Group Head executive to be present at Committee Meetings.
      Contributing Non-Voting         1. Group Head/other Group Head level invited in relation to material for Committee agenda
      Member                          2. Committee Secretary
                                      1. Internal Audit SEVP*) or Internal Audit Directorate Group Head or Internal Audit Directorate official present as
                                         invitee.
                                         *) In the event that the material discussed in the Committee is material proposed by SEVP Internal Audit, then
      Invitee
                                         SEVP Internal Audit acts as a Voting Member.
                                      2. Official in operational risk, the Operational Risk Senior Head related to material for committee agenda
                                         present as invitee.




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                                                            RISK MANAGEMENT & CREDIT POLICY COMMITTEE




 Category B RMPC – Credit Policy

              Chairman               President Director
              Secretary              Credit Portfolio Risk Group Head
        Alternate Secretary I        Policy & Procedure Group Head
        Alternate Secretary II       Wholesale Banking SORH
                                     1. President Director
                                     2. Director of Risk Management
        Permanent Member             3. Director of Operations or Wholesale Credit Operations Group Head/Retail Credit Operations Group Head (as
                                        per segment)
                                     4. Related SEVP Internal Audit or Chief Internal Audit
                                     1. Director of Credits according to the discussion segment of the Committee Agenda
     Non-Permanent Member            2. Risk SEVP according to the discussion segment of the Committee Agenda
                                     3. Board of Directors Member and SEVP related to the material present as invitee.
                                     1. Group Head/other Group Head level invited in relation to the material of Committee agenda.
       Contributing Member
                                     2. Committee Secretary
                                     1. Director of Compliance & HR or Compliance & AML-CFT Group Head or appointed Compliance & AML-CFT
                Invitee                 officials.
                                     2. Official in operational risk, the Senior Operational Risk Head according to discussion segment.



 Risk Management & Credit Policy Committee Members’ Profile
 The Risk Management and Credit Policy Committee members profile as of 31 December 2023 is as follows:

 RMPC – Risk Management Category A
             Name                            Position                               Description                      Educational Background
 Alexandra Askandar              Chairman/Permanent Voting          Vice President Director                     The Educational Background is
                                 Member                                                                         presented in the Board of Directors’
                                                                                                                Profile Section of this Annual Report
 Ahmad Siddik Badruddin          Permanent Voting Member            Director of Risk Management
 Aquarius Rudianto               Permanent Voting Member            Director of Networks & Retail Banking
 Toni E. B. Subari               Permanent Voting Member            Director of Operations
 Sigit Prastowo                  Permanent Voting Member            Director of Finance & Strategies
 Adi Pranantias                  Permanent Voting Member            SEVP Wholesale Risk                         The Educational Background is
                                                                                                                presented in the Executive Officials
                                                                                                                Profile Section of this Annual Report


 RMPC – Credit Policy Category B
               Name                           Position                            Description                       Educational Background
 Darmawan Junaidi                   Permanent Member               President Director                       The Educational Background is
                                                                                                            presented in the Board of Directors’
 Ahmad Siddik Badruddin             Permanent Member               Director of Risk Management              Profile Section of this Annual Report
 Toni E. B. Subari                  Permanent Member               Director of Operations
 Sugiharto                          Permanent Member               Wholesale Credit Operations Group        -
                                                                   Head*
 Harsono Rudi Firnadi               Permanent Member               Retail Credit Operations Group Head*     -
 Danis Subyantoro                   Permanent Member               SEVP Internal Audit**                    The Educational Background is
                                                                                                            presented in the Executive Officials
                                                                                                            Profile Section of this Annual Report
 Mindha Erdimina                    Permanent Member               Chief Auditor Wholesale & Corporate      -
                                                                   Center Audit**
 Ade Hasballah Abdullah             Permanent Member               Chief Auditor Retail Audit**             -
 Deni Hendra Permana                Permanent Member               Chief Auditor IT Audit**                 -
 Asep Syaeful Rochman               Permanent Member               Chief Auditor Senior Investigator**      -
  *According to Segment
  **Replacing each other




                                                                                                                           ANNUAL REPORT 2023           707
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            HIGHLIGHTS                   REPORT                           PROFILE                           AND ANALYSIS




      RISK MANAGEMENT & CREDIT POLICY COMMITTEE



      Risk Management & Credit Policy                                 2. Category B – Credit Policy
      Committee Charter                                                  The Category B RMPC’s duties, authorities, and
      In accordance with POJK No. 17 of 2023 concerning the              responsibilities are as follows:
      Implementation of Governance for Commercial Banks                  a. Offering input to the board of directors in drafting
      article 75 states that the Bank must have guidelines and               and/or adjusting/improving the crediting policy
      committee work rules, where the Risk Management &                      or financing of the Bank, especially in relation to
      Credit Policy committee has been regulated in Board of                 the formulation of prudence principles in credits.
      Directors Decree No. KEP.DIR/009/2021, which contains:             b. Monitoring and evaluating the development
      a. Purpose of the committee establishment                              and quality of the credit portfolio or the overall
      b. Duties, responsibilities, and authority of the committee            financing.
      c. Structure and membership of the committee                       c. Supervising the application of the crediting policy
      d. Committee meetings, quorum and decision making                      and formulating a resolution in the event of any
      e. Committee reporting                                                 obstacles or constraints in its application, as well
                                                                             as conduct periodic review of the Credit Policy
      Risk Management & Credit Policy Committee                              and advise the board of directors in the event
      Duties and Responsibilities Description                                necessary changes or improvement.
                                                                         d. Monitoring and evaluating the correctness of the
      1. Category A RMPC – Risk Management                                   implementation of credit decision, the process of
         The Category A RMPC’s duties, authorities, and                      giving, development and quality of credit provided
         responsibilities are:                                               to the parties related to the Bank and certain large
         a. Monitoring risk profile and management of all risks              debtors.
             to establish risk appetite, risk limit, and integrated      e. Monitoring and evaluating the correctness of the
             risk management strategy as well as capital                     provisions of the Minimum credit allowance (BMPK),
             adequacy.                                                       adherence to the provisions of other laws and
         b. Establishing a risk management framework and                     regulations in the implementation of credit grants,
             methodology to identify, measure and mitigate                   and the settlement of non-performing loans in
             risks, including for stress conditions and contingency          accordance to those stipulated in the credit policy.
             plans.                                                      f. Ensuring and evaluating the Bank’s efforts in fulfilling
         c. Performing improvements to the implementation                    the adequacy of amount of allowance for credit
             of risk management on a regular basis and                       write-off
             incidentally as a follow-up to changes in internal          g. Submitting a written report periodically and
             and external conditions that affected the capital               providing suggestions for corrective measures to
             adequacy and Company risk profile.                              the Board of Directors with a copy to the Board of
         d. Discussing and establishing strategic matters in the             Commissioners regarding the results of supervision
             scope of risk management including in Subsidiaries.             over the implementation of credit policy and the
         e. Determining items related to business decisions that             results of monitoring and evaluation on the matters
             had specific conditions (such as allocation and                 referred to in the above.
             limit allocations in credit portfolio management).
         f. Offering recommendations to the President
             Director regarding:
             • Preparation and/or adjustment/improvement
                  of Policies, Strategies and Guidelines for The
                  Risk Management Implementation.
             • Enhancement or improvement of the Risk
                  Management implementation based on
                  the evaluation of the Risk Management
                  implementation.
             • Determination of items related to business
                  decisions, including those that deviated from
                  normal procedures.
         g. Delegating authority to appointed officials to
             decide and implement operational activities.




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GOVERNANCE                  & PRACTICES                               RESPONSIBILITY                                    STATEMENTS 2023




                                                         RISK MANAGEMENT & CREDIT POLICY COMMITTEE



 Risk Management and Credit Policy Committee Duties Implementation in 2023
 In 2023, the RMPC deliberated through 12 (twelve) meetings and 9 (nine) circulars, with the following details:

  No.           Date                                        Agenda                                      Quorum Attendance (%)       Remark
   1    13 January 2023     Evaluation of Bank Mandiri’s Risk Appetite Statement (RAS)                          100 %                Circular
   2    17 January 2023     Self-Assessment of Risk Profile and RBBR of Bank Mandiri Individually               100 %               Online
                            for the period of Semester II/December 2022 and Approval on                                             Meeting
                            Adjustment the Risk Based Bank Rating (RBBR) Methodology of MMI
   3    2 February 2023     Self-Assessment of Bank Mandiri's Integrated Risk Profile and RBBR on a             100 %               Online
                            Consolidated basis for the period of Semester II / December 2022                                        Meeting
   4    8 February 2023     RAKB Q4 2022 Performance Update and Approval of Bank Mandiri's                      100 %               Online
                            Green Bond Framework                                                                                    Meeting
   5    31 March 2023       Approval of Mechanism & Formula for Determination of Consolidated                   100 %               Online
                            Counterparty Limit Mandiri Group                                                                        Meeting
   6    14 April 2023       Self-Assessment of Bank Mandiri's Individual and Consolidated Risk                  100 %               Online
                            Profile for First Quarter 2023                                                                          Meeting
   7    17 May 2023         Bottom-Up Stress Testing (BUST) Approval 2023                                       100 %               Online
                                                                                                                                    Meeting
   8    29 May 2023         Changes in Bank Mandiri's Individual Risk Based Bank Rating (RBBR)                  100 %                Circular
                            Methodology
   9    7 June 2023         Revision of Credit Policy                                                           100 %                Circular
   10   14 June 2023        Changes in the Risk-Based Bank Rating (RBBR) of Bank Mandiri on a                   100 %                Circular
                            Consolidated basis and Integrated Risk Profile
   11   15 June 2023        Approval of Sustainability Bond Report and ESG Repo Report 2023                     100 %               Online
                                                                                                                                    Meeting
   12   14 July 2023        Self-assessment of Risk Profile and RBBR of Bank Mandiri Individually for           100 %               Online
                            the period of Semester I 2023                                                                           Meeting
   13   2 August 2023       Self-Assessment of Integrated Risk Profile and RBBR of Bank Mandiri on              100 %               Online
                            a Consolidated basis for the period Semester I/June 2023                                                Meeting
   14   4 August 2023       Revision of Anti-Fraud Strategy Document                                            100 %                Circular
   15   13 September 2023   Review of Banking Book and Trading Book Market Risk Limit and                       100 %                Circular
                            Review of Liquidity Risk Limit
   16   17 October 2023     Self-Assessment of Bank Mandiri's Individual and Consolidated Risk                  100 %               Online
                            Profiles for the Third Quarter                                                                          Meeting
   17   9 November 2023     Submission of Consolidated Bank Counterparty Limit Mandiri Group                    100 %               Online
                                                                                                                                    Meeting
   18   20 November 2023    Revision of Risk Management Policy                                                  100 %                Circular
   19   27 November 2023    Review of Bank Mandiri's RBBR Methodology Individually                              100 %                Circular
   20   13 December 2023    Approval of Proposed Mandiri ESG Guiding Principal                                  100 %               Online
                                                                                                                                    Meeting
   21   20 December 2023    Review of Bank Mandiri's RBBR Methodology on a Consolidated Basis                   100%                 Circular


 Risk Management & Credit Policy Committee Works Plan in 2024

 RMPC has established a work plan that will be discussed through at least 2 (two) meetings in a year. RMPC works plan
 in 2024 are as follows:
 1. Monitor risk profile and management of all risks in order to establish a risk appetite and risk management strategies
     integrated and capital adequacy.
 2. Monitor and evaluate the development and quality of the credit portfolio or the overall financing.




                                                                                                                         ANNUAL REPORT 2023     709
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            HIGHLIGHTS                    REPORT                                  PROFILE                                 AND ANALYSIS




      TRANSFORMATION COMMITTEE




            The Transformation Committee (TFC) was established to
            assist the Board of Directors in maintaining and deciding the
            Bank’s transformation needs, determining strategic directions
            for the development of Bank transformation, determining
            transformation initiatives/projects to be carried out and
            managed with the Bank’s business strategy, discussing and
            solving strategic transformation management issues, and
            determining adjustments to the organization, work units, and
            executives performing transformation functions according
            to the authority of organizational change.




      Structure and Membership of the Transformation Committee
      Based on the Decree of the Board of Directors No. KEP.DIR/66/2021 dated 31 December 2021 regarding the Transformation
      Committee, the membership structure of TFC is as follows:

      Transformation Committee Membership Composition
      Chairman                    President Director
      Secretary                   Head of Business Transformation
      Alternate Secretary I       Head of Corporate Transformation
      Alternate Secretary II      Group Head of Strategic Investment & Subsidiaries Management
      Voting Members
                                  1.   President Director
                                  2.   Vice President Director
                                  3.   Director of Finance & Strategy
      Permanent Voting Member     4.   Director Risk Management
                                  5.   Director of Information Technology
                                  6.   Director of Operations Director
                                  7.   Director of Compliance & HR
      Non-Permanent Voting        Board of Directors Member/SEVP related to the material present as invitee
      Member
      Permanent Non-Voting        Compliance & AML-CFT or appointed Compliance & AML-CFT Group officials to be present in Committee Meeting
      Member
      Contributing Non-Voting     1. Group Head/other Group Head level invited in relation with material of the Committee Agenda
      Member                      2. Committee Secretary
                                  Executives of Operational Risk, the Senior Operational Risk Head in relation to the material of Committee Agenda,
      Invitee
                                  present as invitee.




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GOVERNANCE                   & PRACTICES                              RESPONSIBILITY                                STATEMENTS 2023




                                                                                             TRANSFORMATION COMMITTEE



 Transformation Committee Members’ Profile
 The Transformation Committee members profile as of 31 December 2023 is as follows:

             Name                         Position                             Description                    Educational Background
 Darmawan Junaidi            Chairman/Permanent Voting          President Director                      The educational background is
                             Member                                                                     presented in the Board of Directors’
                                                                                                        profile section of this Annual Report
 Alexandra Askandar          Permanent Voting Member            Vice President Director
 Sigit Prastowo              Permanent Voting Member            Director of Finance & Strategies
 Ahmad Siddik Badruddin      Permanent Voting Member            Director of Risk Management
 Timothy Utama               Permanent Voting Member            Director of Information Technology
 Toni E. B. Subari           Permanent Voting Member            Director of Operations
 Agus Dwi Handaya            Permanent Voting Member            Director of Compliance & HR



 Transformation Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Transformation Committee has been regulated
 in the Board of Directors Decree No. KEP.DIR/66/2021, which contains:
 1. Purpose of the committee establishment
 2. Duties, responsibilities, and authority of the committee
 3. Structure and membership of the committee
 4. Committee meetings, quorum and decision making
 5. Committee reporting

 Transformation Committee Duties and Responsibilities
 TFC’s duties and responsibilities are as follows:
 1. To determine the strategies of the Bank’s transformation. Development.
 2. To determine transformation initiatives/projects to be carried out and managed by the transformation unit in line
    with the Bank’s business strategy.
 3. To discuss and resolve strategic transformation management problems.
 4. To establish organizational adjustments, operating units, and officials who carry out the transformation function
    according to the authority of organizational change.

 Transformation Committee Duties Implementations in 2023
 In carrying out its duties and responsibilities, TFC hold at least 3 (three) meetings a year or at any time if deemed necessary
 at the request of one or more committee members with voting rights, or at the request of the Board of Directors, or a
 written proposal from the related units by conveying the discussion material and to coordinating with the Committee
 Secretary.

 In 2023, TFC has held 2 (two) meetings, with the following details:

  No.           Date                                       Agenda                                    Quorum Attendance (%)          Remark
   1    5 July 2023       Presentation and request for approval for the proposal of Key Success              100%                Onsite Regular
                          Indicators Business Transformation year 2023                                                             Meeting
   2    20 October 2023   Presentation and request for approval for the allocation of operating              100%                Onsite Regular
                          budget requirements year 2023                                                                            Meeting



 In addition to the above two meetings, as per the request of the Board of Directors, the Business Transformation discussion
 was also held 15 times in the Board of Directors’ meeting during 2023.

 Transformation Committee Works Plan in 2024
 TFC will set out the work plans in a year. The following are TFC work plans for 2024:
 1. Establish the review results on the Bank’s transformation progress.
 2. Define the Bank’s transformation strategy for 2024.
 3. Resolve strategic transformation management issues.
 4. Establish adjustments of organizations, work units and executives who perform transformation functions..

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             HIGHLIGHTS                      REPORT                            PROFILE                           AND ANALYSIS




      CREDIT COMMITTEE MEETING




            Credit Committee/Credit Committee Meeting (RKK) was
            established to assist the Board of Directors in taking the
            decisions on lending (new loans, additional loans, reduction
            of loans, and/or loans extension) managed by the Business
            Unit according to limits of authority, including determination/
            change of loans structure.




      Since the establishment of Bank Mandiri, the Credit                   concerning the Executive Committee of the Board of
      Committee has been established which consists of Business             Directors of PT Bank Mandiri (Persero) Tbk and the Decree
      Unit and Risk Unit functions and have been refined for                of the Board of Directors No. KEP. DIR/059/2021 dated
      several times, however in 2005 a fundamental revamp                   November 24, 2021. Meanwhile, the composition of
      of lending process was carried out to guarantee more                  RKK members is regulated by referring to the Four Eyes
      prudent and appropriate loan and risk management best                 Principles (proportional composition between business
      practices as well as to reinforce the implementation of               authority holders and credit risk authority holders). In its
      GCG principles.                                                       implementation, the Credit Committee is equipped with
                                                                            a Committee Secretary.
      Every loan approval in Wholesale segment can be carried
      out through a discussion in the forum of Loans Committee              Credit Committee Charter
      Meeting as a means of implementing four–eyes principle
      as well as a check and balance process between Business               Bank Mandiri has a Credit Committee Charter which is
      Unit as an Initiator unit with Risk Unit as a Risk Mitigation Unit.   regulated in the Standard Credit Procedure for each
                                                                            business segment.
      In the Credit Committee, the Legal Group and the
      Compliance Group also be present to offer opinions on                 The Credit Committee Charter, among others, regulates
      legal and compliance to reinforce the independence                    the duties, responsibilities and authorities of the Credit
      aspect, preventing the dominance of operating units,                  Committee and its structure and membership which
      preventing conflict of interest and ensuring Objective and            represent the business function and credit risk function
      stress-free decision making. In the event that one of Credit          proportionately
      Committee members is managing the credit recovery
      function, it is called the Restructuring Credit Committee.            Credit Committee Duties and Responsibilities

      Credit Committee Membership and Structure                             In carrying out its functions, the Credit Committee has
                                                                            the duties and responsibilities as set forth in the Loans
      RKK was formed as last stated in the Decree of the Board              Procedure Standards per segment as follows:
      of Directors No. KEP. DIR/001/2021 dated January 13, 2021



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GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                            STATEMENTS 2023




                                                                                  CREDIT COMMITTEE MEETING




 1. Credit Committee
    The Credit Committee shall recommend and/or terminate the loans (new, addition, reduction, and/or renewal)
    managed by the Business Unit in accordance with the authority limit, including the credit structure determination/
    amendment.

 2. Credit Committee – Restructuring
    Credit Committee – Restructuring is authorized to recommend and or decide as authorized by:
    a. Restructuring and completion of loans for Collectability 3, 4, 5 and collectability 1 and 2 post restructuring which
       is still managed by the Credit Recovery Unit.
    b. Restructuring of collectability Credits 1 and 2 category watch lists.
    c. Recovery/settlement of loans extraction tables, including deciding the acquired assets (AYDA).
    d. Write-off the book and remove credit charges.

 3. The authority and responsibility for loans decision is attached by individual and not by position where each authority
    holder for loan decision is mutually independent and taken the same authority in the decision or refusal of a loan
    proposal.

 4. The authority to terminate loans is utilized in accordance with the applicable lending and procedures.

 5. The extension of loans period can only be done after the proportional distribution of debtor transactions has been
    carried out to the debtor’s operating account at Bank Mandiri. If the distribution of debtor transactions to the operating
    account has not been carried out proportionally, then the extension of loan facility must be submitted and requested
    the approval from the Credit Committee/Credit Restructuring Committee according to the limit of authority by
    informing the condition.

 Credit Committee Duties Implementation in 2023
 In 2023, the Credit Committee has made 3.219 loans decisions, consisting of 541 in the Corporate segment, 2.366 in the
 Commercial segment, 76 in the Financial Institution segment, and 42 in the Institutional segment and 194 in the SAM
 segment.

 Credit Committee Works Plan in 2024
 The Credit Committee has set the 2024 works plan, among others, to provide recommendations and/or approval of
 lending (new, additional, decrease, and or renewal) managed by the Business Unit in accordance with the authority
 of limit, including the determination/change of loans structure.




                                                                                                       ANNUAL REPORT 2023        713
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             HIGHLIGHTS                       REPORT                                   PROFILE                                 AND ANALYSIS




      SOCIAL & ENVIRONMENTAL
      RESPONSIBILITY COMMITTEE (SERC)




             The Social & Environmental Responsibility Committee (SERC)
             was established to assist the Board of Directors in coordinating
             between work units/fields to formulate objectives and
             guidelines for the implementation of the Bank Mandiri TJSL
             Program, Mapping and preparing the Bank Mandiri TJSL
             Program, and Assist the Board of Directors in evaluating the
             implementation of the Bank Mandiri TJSL Program.




      Structure and Memberships of the Social & Environmental Responsibility Committee
      Based on the Decree of the Board of Directors No. KEP.DIR/049/2022 dated 30 December 2022 concerning the Social
      & Environmental Responsibility Committee, the structure and membership of the SERC are as follows:

      Memberships Structure of the Social & Environmental Responsibility Committee
      Head                             Director of Institutional Relations
      Secretary                        Group Head Corporate Secretary
      Substitute Secretary             Head of Government Project 3
                                       1.   Director of Institutional Relations
                                       2.   Group Head Corporate Secretary
      Permanent Members with           3.   Group Head Environment, Social & Governance
      Voting Rights                    4.   Group Head Strategy & Performance Management
                                       5.   Group Head Distribution Strategy
                                       6.   Head of Government Project 3
      Non-Permanent Members with Members of the Board of Directors and SEVP regarding the materials present as an invitation
      Voting Rights
      Permanent Members without        Director of Compliance & HR or Group Head Compliance & AML-CFT or appointed officer of Compliance & AML-
      Voting Rights                    CFT Group
      Contributing Members without     Group Head/other Group Head levels who attended as an invitation related to the material on the committee's
      Voting Rights                    agenda.
                                       Executives in operational risk, namely the Senior Operational Risk Head, related to the material on the agenda of
      Invitees without Voting Rights
                                       the committee that was present as a permanent invitation without voting rights.




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GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                                    STATEMENTS 2023




                                SOCIAL & ENVIRONMENTAL RESPONSIBILITY COMMITTEE (SERC)




 Profiles of the Social & Environmental Responsibility Committee
 The profiles of members of the Social & Environmental Responsibility Committee as of 31 December 2023 are as follows:

           Name             Position in the Committee            Position in the Company                  Educational Background
 Rohan Hafas           Chairman/Permanent Voting Member Director of Institutional Relations     The educational background is presented
                                                                                                in the Board Directors Profile in this Annual
                                                                                                Report.
 Teuku Ali Usman       Secretary/Permanent Voting Member     Group Head Corporate Secretary     The educational background is presented in
                                                                                                the Corporate Secretary Profile in this Annual
                                                                                                Report.
 Citra Amelya          Permanent Voting Member               Group Head Environment, Social     -
                                                             & Governance
 Antonius Kunta        Permanent Voting Member               Group Head Strategy &              -
 Widyatmaka                                                  Performance Management
 Trilaksito Singgih    Permanent Voting Member               Group Head Distribution Strategy   -
 Hudanendra
 Hendrianto Setiawan   Permanent Voting Member               Head of Government Project 3       -


 Social & Environmental Responsibility Committee Charter
 Pursuant to POJK No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks article 75 states
 that the Bank must have guidelines and committee work rules, where the Transformation Committee has been regulated
 in the Board of Directors Decree No. KEP.DIR/049/2022, which contains:
 1. Purpose of the committee establishment
 2. Duties, responsibilities, and authority of the committee
 3. Structure and membership of the committee
 4. Committee meetings, quorum and decision making
 5. Committee reporting

 Duties and Responsibilities of the Social & Environmental Responsibility Committee
 In carrying out its functions, SERC has the duties and responsibilities including the following:
 1. Coordinating between work units/fields to formulate objectives and guidelines for the implementation of the Bank
     Mandiri TJSL Program;
 2. Mapping and preparing the Bank Mandiri TJSL Program; and
 3. Assist the Board of Directors in evaluating the implementation of the Bank Mandiri TJSL Program.



 Implementation of Social & Environmental Responsibility Committee Duties in 2023
 In carrying out its duties and responsibilities, SERC shall hold meetings at least 2 (two) times a year or at any time if
 deemed necessary at the request of one or more committee members with voting rights, or at the request of the
 Board of Directors or on written proposals from the relevant work unit by submitting materials to be discussed and in
 coordination with the Secretary of the Committee.

 Throughout 2023, SERC has held 2 (two) meetings with the following agenda:

  No.           Date                                    Agenda                                      Quorum Attendance (%)           Remark
   1    13 December    TJSL 2023 Performance                                                                100%
        2023
   2    13 December    TJSL Work Programs 2024                                                              100%
        2023



 Social & Environmental Responsibility Committee Work Plans for 2024
 1. Determination of Bank Mandiri TJSL distribution framework.
 2. Evaluation of TJSL Training & Socialization to Regional Executives 1-12 of Bank Mandiri.
 3. Evaluation of Bank Mandiri TJSL disbursement performance in 2023 and 2024.



                                                                                                                     ANNUAL REPORT 2023          715
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            HIGHLIGHTS                   REPORT                         PROFILE                          AND ANALYSIS




      CORPORATE SECRETARY




            The Corporate Secretary has the duties and responsibilities to
            monitoring the Company’s compliance with laws and regulations
            as part of the implementation of Good Corporate Governance,
            ensuring the shareholders, capital market authorities, analysts
            and the public to obtain all important information related to the
            Company in a timely, complete and accurate manner; and
            ensuring that the disclosure of information and the Company’s
            internal and external communication is carried out transparently.
            In addition, the Corporate Secretary is responsible to maintaining
            the Bank’s good image to the stakeholders at large.



      The Corporate Secretary takes the role as a liaison            4. Law No. 19 of 2003 concerning State-Owned
      between the company’s organ and external parties                  Enterprises.
      including government and non-government institutions,          5. Board of the Director’s Decree No. KEP. DIR/137/2020
      shareholders, as well as other capital market communities.        dated 10 November 2020.
      The Corporate Secretary is directly responsible to the Board   6. Board of the Director’s Decree No. KEP. DIR/047/2023
      of Directors and is appointed and dismissed based on the          dated 1 December 2023.
      Decree of the Board of Directors.
                                                                     Corporate Secretary Profile
      Bank Mandiri already has a Corporate Secretary function        The Corporate Secretary of Bank Mandiri is directly
      carried out by the Corporate Secretary Group work unit         responsible to the Board of Directors and is under the
      and led by officials at the minimum level of Senior Vice       supervision of the Director of International Relations, and
      President.                                                     is appointed and dismissed based on the Decree of the
                                                                     Board of Directors.
      Legal References of Appointment
      The establishment, appointment and implementation              The Company appointed Rudi As Aturridha as Corporate
      of functions and duties of Corporate Secretary refer to:       Secretary based on the Decree of the Board of Directors
      1. Articles of Association of Bank Mandiri                     No. KEP. DIR/137/2020 dated 10 November 2020 for the
      2. POJK No. 35/POJK.04/2014 concerning Corporate               term of office 10 November 2020 to November 30, 2023.
          Secretary of Issuers and Public Companies.                 On 1 December 2023, the Company appointed Teuku
      3. SOE Minister Regulation No. PER-01/MBU/2011                 Ali Usman as Corporate Secretary based on Board of
          concerning the Implementation of Good Corporate            Directors Decree No. KEP. DIR/047/2023 dated 1 December
          Governance in State-Owned Companies, as last               2023, Rudi As Aturridha and Teuku Ali Usman’s profiles as
          amended by PER-2/MBU/03/2023 of 2023 concerning            Corporate Secretary can be seen below:
          Guidelines for Governance and Significant Corporate
          Activities of State-Owned Enterprises.




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GOVERNANCE                   & PRACTICES                      RESPONSIBILITY                                 STATEMENTS 2023




                                                                                                 CORPORATE SECRETARY




                                               Certification
                                               Risk Management Level 3

                                               Educational Background
                                               Bachelor of Economics from Universitas Trisakti (1996)

                                               Professional Background
                                               • Corporate Communication Department Head, PT Bank Mandiri (Persero) Tbk. (2019 –
                                                   2020)
                                               • Yogyakarta Area Head, PT Bank Mandiri (Persero) Tbk. (2017 – 2018)




   Rudi As Aturridha
   Corporate Secretary
   Age: 50 Years old
   Citizenship: Indonesian
   Domicile: Jakarta




                                               Certification
                                               Risk Management Level 4

                                               Educational Background
                                               • Bachelor in Accounting Economics at Sriwijaya University (1992)
                                               • Master in Management at A.I.P Perbanas Jakarta

                                               Professional Background
                                               • Group Head Government & Institutional 2 PT Bank Mandiri (Persero) Tbk. (May 2022 -
                                                   December 2023
                                               • Regional CEO III/Jakarta 1 (November 2020 - May 2022
                                               • Regional CEO III/Jakarta 1 (January 2019 - November 2020)
                                               • Regional CEO V/Jakarta 3 (September 2015 - January 2019)
                                               • Regional CEO VI/Java 1 (July 2015 - September 2015)
                                               • Acting Regional CEO. Regional CEO VI Bandung (January 2015 - July 2015)
                                               • Pj. Regional Manager Medan (March 2014 - January 2015)
                                               • Deputy Regional Manager 1 (September 2013 - March 2014)
                                               • Pj. Deputy Regional Manager 1 (January 2013 - September 2013)
                                               • Area Manager Surabaya Niaga (November 2011 - January 2013)
                                               • Pj. Area Manager Surabaya Niaga (January 2011 - November 2011)
                                               • Area Manager Bekasi Juanda (January 2006 - January 2011)
                                               • Wealth Management Consumer Banking Treasury Officer (March 2005 - January 2006)
                                               • SR Treasury Mark. Officer Corporate Treasury Marketing (January 2003 - March 2005)
   Teuku Ali Usman                             • Professional Staff Treasury Management (August 2001 - January 2003)
   Corporate Secretary                         • Global Market Officer (March 2000 - August 2001)
   Age: 55 Years old                           • Global Market & Sales Officer - Relationship Manager Corporate (June 1999 - March
   Citizenship: Indonesia                          2000)
   Domicile: Jakarta                           • Fund Management Lead Employee KKJT International Banking UK. Institutional Fin.
                                                   (October 1995 - June 1999)




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             HIGHLIGHTS                   REPORT                           PROFILE                               AND ANALYSIS




      CORPORATE SECRETARY



      Structure of the Corporate Secretary
      The Corporate Secretary is directly responsible to the Director of Institutional Relations, in which the functions and duties
      are divided into 6 (six) fields:
      1. Bank activities as a public company, including implementing corporate governance, especially those related to
         capital market rules.
      2. Corporate Communication Activities.
      3. Secretarial Activities.



                                                                                            SO Corporate Secretary

                                                                                                               GROUP HEAD
                                                                                                        CORPORATE SECRETARY




                                                                      Strategic Planning,
                                Capital Market                                               Corporate Event &         Corporate
       Institutional Relation                        CSR Center           Budgeting &
                                 Assurance                                                      Sponsorship          Communication
                                                                           Reporting




             Institutional                                                 Strategic &
                                 Capital Market      CSR Program                               Corporate Event        Media Relations
              Relation 1                                                    Planningt




             Institutional           Policy            CSR non            Budgeting &                                    External
                                                                                                 Sponsorship
              Relation 2           Assurance           Program             Controling                                 Communication




                                                                          Reporting &            Sponsorship             Internal
                                                    CSR Operation
                                                                            Analysis              Operation           Communication




                                                                                                                        Corporate
                                                                         General Affair
                                                                                                                        Activation




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                                                                                           CORPORATE SECRETARY



 4. Security Activities
 5. Social and Environmental Responsibility Activities (CSR)
 6. Other Activities

 The coordination and supervision of each department are directly under the Corporate Secretary, which is guided by
 the Corporate Secretary Policy and Standards.




                                                                        DEPUTY
                                                                      GROUP HEAD




                                                 Board
      Strategic                                                         Board               Security
                                           Implementation &
   Corporate Media                                                   Management             Services
                                              Alignment




                                            Strategic Project          Planning &
    Digital Content &     Assignment                                                         Security                 Security
                                              Monitoring &               Quality
       Community           Specialist                                                      Development               Supporting
                                            Ad-Hoc Content            Management




        Digital &                            Communication                                 Board Services
                                                                      Board Services
    Media Intelligence                        & Alignment                                   Investigation




       Corporate                                                                             Security
       Branding                                                                              Operatio




       Creative &
                                                                                           Security VIP &
        Strategic
                                                                                            Protocoler
      Development




         Traffic
     Management &
       Research




                                                                                                             ANNUAL REPORT 2023   719
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            HIGHLIGHTS                   REPORT                         PROFILE                           AND ANALYSIS




      CORPORATE SECRETARY



      Functions and Duties of Corporate Company                      2. Corporate Communication Activities
      Referring to Article 5 of POJK No. 35/POJK.04/2014                a. Establishing strategies and managing the
      concerning Corporate Secretary of Issuers or Public                  implementation of corporate communications
      Companies, the functions of the Corporate Secretary                  that present the company’s image to all bank
      is as follows:                                                       stakeholders.
      1. Following the development of the capital market,               b. Carrying out reputational risk management
          especially the applicable laws and regulations of the            functions which include the process of identifying,
          capital markets.                                                 measuring, monitoring and controlling the
      2. Providing input to the Board of Directors and the                 reputational risk management.
          Board of Commissioners to comply with the rules and           c. Organizing and carrying out certain activities (e.g.
          regulations of the capital market.                               events/sponsorships) as the implementation of a
      3. Assisting the Board of Directors and the Board of                 corporate communication strategy.
          Commissioners in implementing corporate governance            d. Monitoring and updating the content of brand
          which includes:                                                  guideline material from time to time to ensure
          a. Disclosure of information to the public, including            conformity with current needs.
               the availability of information on the Company’s         e. Developing and implementing product and service
               Website;                                                    communication marketing strategies based on
          b. Timely submission of reports to the OJK;                      applicable internal regulations.
          c. Organizing and documenting the General Meeting
               of Shareholders;                                      3. Secretarial Activities
          d. Organizing and documenting the Meetings of the             a. Organizing and documenting the Meetings of
               Board of Directors and/or Board of Commissioners;           the Board of Directors Meetings and Board of
               and                                                         Commissioners.
          e. Implementing an orientation program for the Board          b. Administration of the company documents
               of Directors and/or the Board of Commissioners.             including regulating or stipulating the regulations
      4. As a liaison between the Company and shareholders,                concerning letters and management of the
          the OJK and other stakeholders.                                  company documents.
                                                                        c. Organizing activities to support the functions and
      In line with OJK Regulation, the Corporate Secretary also            work activities of the Board of Commissioners and
      has in place the Policy and Standard of Guidelines as the            Board of Directors.
      foundation in carrying out its functions and duties. The          d. Supporting the functions and work activities of the
      scope of responsibility of the Corporate Secretary includes:         Board of Commissioners and Board of Directors,
                                                                           among others:
      1. Bank Activities as a Public Company:                              • Implementation of protocols.
         a. Carrying out Information Disclosure including                  • Management of administration, facilities and
            reporting to Regulators regarding the Bank status                  benefits.
            as a Public Company.
         b. Organizing and documenting the General Meeting           4. Security Activities
            of Shareholders.                                            Carry out security activities aimed at supporting
         c. Carrying out report submissions according to the            the smooth and orderly operational activities of
            provisions of other laws under the authority of the         the Company, including regulating and stipulating
            Corporate Secretary unit.                                   regulations on the implementation of Bank security
         d. Managing the administration of Bank Mandiri
            shareholders.                                            5. Social and Environmental Responsibility Activities (TJSL)
         e. Organizing other activities related to the Corporate        a. Develop CSR planning as a strategy and
            Actions and/or other information disclosures.                  implementation guide to ensure the effectiveness
         f. Carrying out the Bank’s compliance with the                    and success of CSR
            capital market regulations.                                 b. Implement CSR activities in the form of:
                                                                           • Micro and small business financing (MSE
                                                                                Funding Program); and/or
                                                                           • Provision of Assistance and/or other activities,
                                                                                including coaching (MSE Non-Funding Program).




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                                                                                                                          CORPORATE SECRETARY



       c. The Board of Directors evaluates the implementation of the Bank’s CSR Activities to measure performance and
          achievement of benefits both to the Bank and to the environment.
       d. The Board of Commissioners supervises the implementation of CSR Activities.

 6. Other Activities
    Carry out Special Assignments from the central government in order to carry out the functions of public benefit and
    national research and innovation.

 Corporate Secretary Capacity Building Programs
 In 2023, the Corporate Secretary has been participating in the trainings, seminars and workshops in order to expand
 knowledge and following current development of capital market. Detailed information on trainings is presented in the
 Chapter 3 Company Profile, Section Competence Development of Corporate Secretary in this Annual Report.

 Moreover, the Corporate Secretary’s officers and executives have participated the trainings in the areas of laws,
 accounting, secretariat and reporting, as well as actively participated in seminars/disseminations on new regulations
 issued by the regulators.

 Corporate Secretary Report Fiscal Year 2023
 In compliance with Article 11 of POJK No. 35/POJK/2014, the Corporate Secretary of Bank Mandiri has prepared
 periodical reports at least once in a year regarding the implementation of the corporate secretary functions to the
 Board of Directors and copied to the Board of Commissioners, submitted through a Memorandum to the Board of
 Directors No. Directors No. HBK. CSC/CMA.192/2023 dated 24 January 2023 regarding the Submission of the Corporate
 Secretary Group Function and Duties Report Book for Fiscal Year 2022 and Letter to the Board of Commissioners No.
 HBK. CSC/CMA.284/2023 dated 24 January 2023 regarding the Submission of the Corporate Secretary Function Report
 for Financial Year 2022.

 Press Release
 Bank Mandiri proactively provides the latest news about its activities through Press Release. The following are details of
 press releases during 2023:

 Press Release 2023
  No            Date                                                                          Press Release
   1     3 January 2023     Supporting the Government to Control the Pandemic, Kopra by Mandiri Distributes Claim Funds to thousands of Referral Hospitals

   2     4 January 2023     Through Kopra by Mandiri, Bank Mandiri Strengthens Health Sector

   3     5 January 2023     Manages Retail Segment, Bank Mandiri's Credit Card Business Grows Positively

   4     6 January 2023     Financial Management Business Will Be Prospective

   5     6 January 2023     Spur Digital Innovation! Bank Mandiri Optimistic Credit Card Business to Grow in 2023

   6     9 January 2023     Present in Los Angeles, Bank Mandiri Introduces Livin' Around The World Service

   7     13 January 2023    Achieving 2022 Target, Bank Mandiri's KUR Distribution Focuses on the Productive Sector

   8     20 January 2023    Implementing ESG, Bank Mandiri Collaborates with PT Juara Bike (SELIS)
                            Handing Over 36 Units of Electric Vehicles to 11 Areas of Region III/Jakarta 1

   9     20 January 2023    Supporting Operational Net Zero Emission Target, Bank Mandiri Collaborates with PT Juara Bike (SELIS)

   10    20 January 2023    Bank Mandiri Facilitates the Provision of Bandaraya Apartments

   11    22 January 2023    Fengshui Credit Card Handover

   12    24 January 2023    Presenting Investment Opportunities, Bank Mandiri Again Holds Mandiri Investment Forum (MIF) 2023 Present tens of thousands of participants
                            and thousands of investors with a total fund under management of US$12 trillion

   13    26 January 2023    Collaborating with Bank Mandiri, JNTO Holds Japan Travel Fair 2023

   14    26 January 2023    Reviving Tourism, Bank Mandiri Joins Japan Travel Fair (JTF) 2023

   15    31 January 2023    Break the record! Bank Mandiri Scores All Time High Profit of Rp41.2 Trillion

   16    31 January 2023    Committed to Providing the Best Service, Bank Mandiri Celebrates Chinese New Year 2574 with Main Customers

   17    01 February 2023   Optimistic to Seize Opportunities, Bank Mandiri Encourages Investment Faucets Through the Mandiri Investment Forum (MIF) 2023

   18    02 February 2023   Hundreds of Global and Domestic Investors Commit to Invest in IKN Nusantara Mandiri Investment Forum (MIF) 2023 to foster downstream
                            natural resources, Clean Energy Optimization and Green Economy

   19    08 February 2023   Strengthening Indonesia's Digital Ecosystem, Bank Mandiri Supports the Inauguration of Solo Technopark




                                                                                                                                              ANNUAL REPORT 2023          721
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             HIGHLIGHTS                          REPORT                                              PROFILE                             AND ANALYSIS




      CORPORATE SECRETARY


       No           Date                                                                           Press Release
        20   09 February 2023   Supporting MSME Development, Bank Mandiri Inaugurates Rumah BUMN Bogor

        21   09 February 2023   Bank Mandiri Rumah BUMN for MSME Empowerment

        22   09 February 2023   Boosting MSMEs to Upgrade, Bank Mandiri Optimizes Rumah BUMN Rumah BUMN Bogor Relocation

        23   10 February 2023   Supporting the Government, Bank Mandiri Commits to Foster Downstream Sector

        24   13 February 2023   Fostering Mortgage Business, Bank Mandiri Holds Find Your Property (FYP) Fest 2023

        25   14 February 2023   Embracing Outstanding Young Talents, Bank Mandiri Presents Awards at My Digital Academy Event

        26   15 February 2023   Bank Mandiri Fosters Downstream Sector

        27   15 February 2023   Great! Bank Mandiri (BMRI) Presents Rp10,000 ATMs in Sulawesi

        28   17 February 2023   Increase Transactions, Livin' by Mandiri Releases Overseas Transfer Feature

        29   17 February 2023   Bank Mandiri Projects Mortgage Distribution to Grow by Double Digits in 2023

        30   17 February 2023   Bank Mandiri Supports Jakarta Open Championship Pencak Silat 2023

        31   18 February 2023   PLN Icon Plus-Bank Mandiri Optimizes Payment Channel Cooperation

        32   20 February 2023   Bank Mandiri Economist: Current Account Deficit Predicted to Reach 1.1% of GDP in 2023

        33   22 February 2023   Bank Mandiri Builds Integrated Rice Processing System

        34   23 February 2023   Bank Mandiri receives Indonesia's Best FX Bank 2023 according to Global Finance

        35   26 February 2023   Bank Mandiri: Livin' by Mandiri Application is Back to Normal

        36   28 February 2023   Bank Mandiri Posts 52% Growth in Foreign Exchange Deposits to Rp 262.82 Trillion Last Year

        37   28 February 2023   Bank Mandiri Economist Expects February Inflation at 0.13%

        38   28 February 2023   Bank Mandiri Records Credit Growth of 11.5% in January

        39   28 February 2023   Implementing Prudential Banking, Bank Mandiri's Credit Quality Grows Positively in 2022

        40   28 February 2023   A number of banks record trade finance business growth

        41   28 February 2023   Bank Mandiri's Strategy to Foster MSME Lending in 2023

        42   28 February 2023   Bank Mandiri Mortgage Interest Rate Starting at 3.65 Percent Fix 3 Years

        43   28 February 2023   Banking Strategy Plays a Role in Presenting Digital Human Resources

        44   01 March 2023      Free to Queue, Bank Mandiri Collaborates with Wise to Provide Money Transfer Services Overseas

        45   01 March 2023      Bank Mandiri supports various events at Mandalika Circuit NTB

        46   01 March 2023      Supporting WSBK 2023, ITDC and Bank Mandiri Sign Bale Mandiri Naming Right Cooperation Agreement

        47   01 March 2023      Collaborating with Wise, Bank Mandiri Targets to Serve Remittance Transactions of US$1 Million per Day

        48   02 March 2023      Bank Mandiri Supports International World Superbike and MotoGP 2023 Events

        49   02 March 2023      Bank Mandiri's Fund Placement in SBN Reaches Rp283.65 Trillion in January

        50   02 March 2023      Bank Mandiri hands over aid to Posyandu and tambourine groups in Riau

        51   05 March 2023      Bank Mandiri Recorded More Than 250 Million Transactions Using BI Fast Last Year

        52   06 March 2023      Credit Restructuring Disbursement

        53   06 March 2023      Bank Mandiri embeds Retail SBN ordering feature in Livin' application

        54   07 March 2023      Bank Mandiri Optimistic that SR018 Booking Through Livin' Reaches Rp4 Trillion

        55   07 March 2023      Fosters Community Digital Transactions, Bank Mandiri Collaborates with 11 BPR

        56   08 March 2023      The remaining portfolio of Bank Mandiri (BMRI) restructuring loans is Rp35.9 trillion

        57   09 March 2023      Collaborates with Bank Mandiri, Lamudi.co.id Socialization Makes it Easy to Apply for Online KPR

        58   09 March 2023      Once Postponed, Mandiri ITB Ultra Marathon 2022 Ready to Be Held

        59   09 March 2023      Welcoming the Holiday Season, Bank Mandiri Holds Travel Fair 2023 at PVJ

        60   11 March 2023      Get ready, PLN synergy – Himbara will make it easier for people to own Motlis

        61   11 March 2023      National Music Day, Indah Kurnia Geber Caravan at Livin Land by Mandiri

        62   14 March 2023      Bank Mandiri holds 1:2 Stock Stock Split, the Price Becomes Affordable

        63   14 March 2023      Don't panic! US Giant Bank Collapses, RI Safe

        64   14 March 2023      Tok! Bank Mandiri AGMS Agrees to Distribute Rp24.7 Trillion Dividend

        65   14 March 2023      Fosters Organic Growth, Bank Mandiri Assesses Green Bond Emissions

        66   14 March 2023      Bank Mandiri Distributes Dividend Rp24.7 Trillion

        67   14 March 2023      Digitalization Supports Bank Mandiri's Performance

        68   14 March 2023      Bank Mandiri's Deposits to Countries Increase 46.7%

        69   15 March 2023      1:2 Stock Split, Mandiri Please Increase Stock Market Liquidity on IDX

        70   15 March 2023      Supporting Energy Transition, Bank Mandiri's Green Financing Reaches Rp106 Trillion



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                                                                                                                         CORPORATE SECRETARY


  No           Date                                                                         Press Release
  71    15 March 2023   Bank Mandiri's Strategy to Keep NIM Stable

  72    15 March 2023   Bank Mandiri (BMRI) Reveals Corporate Action Plan, Mergers and Acquisitions

  73    16 March 2023   Greeneration Processes Waste into Biogas

  74    21 March 2023   The Ministry of ATR/BPN with Bank Mandiri launched e-PNBP

  75    21 March 2023   Ahead of the Stock Split, Bank Mandiri (BMRI) shares soared 5%

  76    21 March 2023   GOTF Held Again, Garuda Gives Discount Up to 80 Percent

  77    21 March 2023   Sports Get Easier with Mandiri Golf Credit Card

  78    22 March 2023   Bank Mandiri (BMRI) Disburses Electric Vehicle Loans of Rp316 Billion until February 2023

  79    23 March 2023   Bank Mandiri (BMRI) in Dividend Period of Rp24.7 Trillion, Check Out the Date!

  80    24 March 2023   The Rate of Credit Expansion is Accelerating

  81    24 March 2023   Ministry of ATR/BPN Collaborates with Mandiri to Increase PNBP

  82    24 March 2023   The Fed's Effect on Interest Rate Hikes, Indonesia's Financial Markets Immune?

  83    24 March 2023   Today is the date of BMRI's dividend, the stock soared 3%

  84    25 March 2023   In February, Bank Mandiri's AUM Grew 13.4%

  85    25 March 2023   Baznas: Could Be a Social Safety Net, Zakat Potential in the Country of Rp300 Trillion

  86    25 March 2023   Top! Bank Mandiri Builds Anti-Gender Discrimination System

  87    26 March 2023   MAI Foundation Distribution and Utilization Increase

  88    27 March 2023   Important Message from Bank Mandiri Vice President Director for Career Women

  89    28 March 2023   Fosters ESG-Based Business Implementation, Bank Mandiri Installs 556 Solar Panel Units

  90    29 March 2023   Record! Bank Mandiri's Global Bond of US$300 million oversubscribed 10.3 times

  91    30 March 2023   Fulfilling Cash Needs Ahead of Eid Al-Fitr 1444 H, Bank Mandiri Prepares Rp49.6 Trillion

  92    31 March 2023   Optimizing Digital Channels, Bank Mandiri Collaborates with Prudential Indonesia to Speed Up Claim Payment

  93    05 April 2023   Stock Split, Bank Mandiri Increases Liquidity of BMRI Shares

  94    05 April 2023   Ramadan and Eid al-Fitr will boost Bank Mandiri's (BMRI) QRIS transactions

  95    06 April 2023   Mandiri: The collapse of SVB has little impact but you still have to be vigilant

  96    06 April 2023   Bank Mandiri Prepares IT Infrastructure to Face Increased Transactions Ahead of Eid 2023

  97    07 April 2023   Bank Mandiri (BMRI) Records Double-Digit Digital Transactions in the First Quarter of 2023

  98    09 April 2023   BI-Fast Has Changed the Payment System Transaction Map

  99    10 April 2023   Increase Electric Vehicle Accessibility for Bank Mandiri Customers through Sales of Electric Motorcycles and Volta Vouchers on the Livin' By
                        Mandiri Application

  100   12 April 2023   Bank Mandiri Reduces NPL of Property Developer Sector to 0.01%

  101   17 April 2023   Supporting MSMEs Go Digital, Bank Mandiri Signs Partnership with Batumbu

  102   17 April 2023   Bank Mandiri's Free Homecoming for 7,000 Travelers

  103   17 April 2023   Coming to Theaters on 19 April 2023, Jin & Jun The Movie Presents Nostalgic Spectacle for Families

  104   18 April 2023   Bank Mandiri Records Impressive Performance in the First Quarter of 2023

  105   18 April 2023   Bank Mandiri distributes KUR up to Rp6 trillion in the first quarter of 2023

  106   28 April 2023   Comply with Kominfo Regulations, Bank Mandiri Updates Official SMS Number

  107   28 April 2023   Bank Mandiri Projects Investment to Grow up to 6% in 2023

  108   02 May 2023     Consistently Producing Quality Human Resources, Bank Mandiri Tops LinkedIn Top Companies 2023 Ranking

  109   05 May 2023     Cooperating with Bank Mandiri, Dwidayatour Carnival 2023 Spreads Travel Discounts Using Mandiri Credit Cards

  110   10 May 2023     Fosters Mortgage Business, Bank Mandiri Collaborates with Agung Podomoro Land to Hold Find Your Property with Easy Pay 2023

  111   11 May 2023     Bank Mandiri Aims for Credit Card Business to Grow 40%

  112   11 May 2023     Bank Mandiri Targets QRIS Transactions to Grow 150% This Year

  113   16 May 2023     Diligent in Innovation, Bank Mandiri Adds Additional Account Opening Feature in Livin'

  114   17 May 2023     Bank Mandiri's Livin' Transaction Value Grows 68%

  115   22 May 2023     Spurring Digital Transactions, Bank Mandiri Serves Formula E 2023 Ticket Sales at Livin' Sukha

  116   23 May 2023     Committed to Build Sustainable Business, Bank Mandiri Aims for Rp5 Trillion from Green Bond Issuance

  117   24 May 2023     Respect for Sea Games Gold Medal Achievement, Bank Mandiri Group Gives Coaching Appreciation for Women's Basketball National Team

  118   26 May 2023     Successfully Record Good Performance, Bank Mandiri Receives Best Bank Recognition from Investor Magazine
                        Named the Best Bank in Indonesia in KBMI 4 Category




                                                                                                                                          ANNUAL REPORT 2023           723
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             HIGHLIGHTS                        REPORT                                             PROFILE                                         AND ANALYSIS




      CORPORATE SECRETARY


       No           Date                                                                         Press Release
       119   30 May 2023      Consistently Fosters ESG Aspects, Bank Mandiri Strengthens Collaboration with Volta, MCAS Group
                              Provides electric motorbike purchase services for people eligible for subsidies

       120   03 June 2023     Ramai Utang Jumbo BUMN Karya, Bank Mandiri (BMRI) Ensure Reserves are Maintained

       121   04 June 2023     Risk Credit Ratios in Several Banks Decline, This is the Support

       122   08 June 2023     Committed to Implementing ESG, Bank Mandiri Expands Green Portfolio

       123   09 June 2023     Bank Mandiri: Gender equality must be maintained within the executive ranks

       124   13 June 2023     Himbara's Strict Selection for BUMN Karya Loans

       125   14 June 2023     Amaze and be proud at the same time! Bank Mandiri Receives the Title of State-Owned Bank Number One according to Forbes

       126   15 June 2023     Bank Mandiri Educates Waste Management & Hygiene Campaign on FIFA Match Day

       127   15 June 2023     Promotes ESG and Ecotourism, Bank Mandiri Holds Mandiri Jogja Marathon 2023

       128   18 June 2023     Mandiri Jogja Marathon 2023 Festive, Kenyan Runners Dominate the Podium in the Open Marathon Category

       129   20 June 2023     Bank Mandiri Boosts Electric Vehicle Ownership Through Copra and Livin'
                              Cooperates with Multifinance Subsidiary Companies to Offer Attractive Promos

       130   23 June 2023     Oversubscribed 3.74 times, Bank Mandiri's Green Bond Raises Rp5 Trillion

       131   27 June 2023     Bank Mandiri's Operational Schedule During Eid Al-Adha 2023 Joint Leave

       132   28 June 2023     Shhh! Bank Mandiri Receives 10 Awards from FinanceAsia, Best in Sustainable Bank and ESG category

       133   29 June 2023     Carrying the Spirit of Sharing for the Country, Bank Mandiri Distributes 760 Sacrificial Animals on Eid Al-Adha 1444 H

       134   30 June 2023     Two Indonesian Olympians Win Oceanman Asian Championship Bali 2023

       135   03 July 2023     Proud! Bank Mandiri Distributes ASEAN Para Games 2023 Athlete and Coach Bonuses

       136   03 July 2023     Bank Mandiri's Efforts to Face Global Uncertainty While Fostering Sustainability Aspects

       137   04 July 2023     Bank Mandiri's (BMRI) Profit Reaches Rp18.44 Trillion as of May 2023

       138   04 July 2023     Bank Mandiri Opens Vote on Premium for Banking Restructuring Program

       139   05 July 2023     Stepping on Financial Inclusion Gas, Bank Mandiri Distributes Rp1 Trillion Channeling Facility to Kredivo

       140   08 July 2023     We The Fest 2023 Returns, Gigi Will Present a Mini Concert

       141   09 July 2023     Capturing the Potential of Digital Transactions, Bank Mandiri Introduces Livin' Around The World in Hong Kong

       142   09 July 2023     Mandiri Sahabatku Delivers Potential Entrepreneurs from Indonesian Migrant Workers
                              A total of 17,000 PMIs followed Mandiri Sahabatku in six countries

       143   10 July 2023     Completing PMI Transaction Needs, Bank Mandiri Strengthens Remittance Services

       144   12 July 2023     Diligent Efforts on ESG, Bank Mandiri Launches Digital Carbon Tracking and Recycled Plastic Cards for NZE 2060

       145   18 July 2023     Captures the Potential of the Education Ecosystem, Bank Mandiri Optimizes Collaboration with Ruang Guru

       146   21 July 2023     Consistently Supports Economic Growth, Bank Mandiri Tops Indonesia's Syndicated Market Share

       147   25 July 2023     Legitimately Become the Best Bank! Bank Mandiri Receives Best Bank in Indonesia in 2023 Euromoney Version

       148   25 July 2023     Presents Customer Financial Transaction Solutions, Bank Mandiri Receives Two ABF Retail Banking Awards 2023

       149   27 July 2023     Collaborates with Indonesia Diaspora Network Global, Bank Mandiri Fosters Inclusive Economy Through Digital

       150   28 July 2023     Addressing Corporate Customer Needs, Bank Mandiri Strengthens Trade Finance and Cash Management Services

       151   31 July 2023     Supporting Economic Growth, Bank Mandiri Disburses Loans of Rp1,272.07 Trillion Until the Second Quarter of 2023

       152   01 August 2023   Star-studded, Mandiri Indonesia Open 2023 Golf Tournament Officially Held

       153   04 August 2023   Fosters Investment in the Country, Bank Mandiri Strengthens Collaboration with BKPM

       154   09 August 2023   Presenting Financial Solutions, Bank Mandiri Signs MoU with the National Capital Authority

       155   10 August 2023   Fulfilling Customers' Investment Needs, Bank Mandiri Markets Mutual Funds from Trimegah Asset Management

       156   10 August 2023   Must Note! Buy Wuling at Livin' by Mandiri Get Down Payment Discount of Rp5 million

       157   11 August 2023   More Complete, Bank Mandiri Serves Majestic Fast Ferry Batam-Singapore Ticket Sales via Livin' Sukha
                              Plant 2,000 Red Wood Tree Seedlings in Ecoedupark Panbil Nature Reserve Batam Area

       158   12 August 2023   Bank Mandiri Fosters Economic and Financial Independence of the Indonesian Diaspora
                              A total of 17,000 Indonesian migrant workers have participated in Mandiri Sahabatku in six countries since 2011

       159   15 August 2023   Celebrating the Spirit of Independence, Bank Mandiri Promotes Health Improvement in Jayapura

       160   16 August 2023   On KEJAR OJK, Bank Mandiri Fosters the Spirit of Saving to 15,000 Students throughout Indonesia

       161   18 August 2023   Celebrating the Spirit of Independence, Bank Mandiri Fosters Health Improvement in Jayapura

       162   18 August 2023   Respect, Bank Mandiri Group Provides Appreciation to Central Level Paskibraka Members

       163   20 August 2023   Expanding Transactions Abroad, Bank Mandiri Introduces Livin' Around the World Feature in 3 Countries

       164   22 August 2023   Solid Fundamentals, Bank Mandiri Economist Optimistic that Indonesia's Economic Growth Will Grow 5.04% in 2023

       165   24 August 2023   Visit Universitas Brawijaya, Srikandi BUMN Inspired 1,200 Students to Build the Country




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                                                                                                                             CORPORATE SECRETARY


  No           Date                                                                          Press Release
  166   28 August 2023      Celebrating Entrepreneurial Spirit Ahead of HUT-25, Bank Mandiri Holds Entrepreneur Expo

  167   29 August 2023      Energy Saving, Plaza Mandiri Building Becomes the Best Retrofitted Building in ASEAN

  168   01 September 2023   Green Finance Champion, Bank Mandiri Supports ASEAN-Indo-Pacific Forum (AIPF)

  169   04 September 2023   Pampering Customers, Bank Mandiri Reveals Harpelnas Promo 2023

  170   06 September 2023   Bank Mandiri Targets Green Financing Investment at AIPF 2023

  171   07 September 2023   Joss! Bank Mandiri Receives Five Alpha Southeast Asia Awards 2023

  172   12 September 2023   25 Years of Bank Mandiri's Commitment to Sow Goodness Through CSR

  173   13 September 2023   Supporting the Crossing Sector, Bank Mandiri Strengthens Banking Service Cooperation for ASDP

  174   14 September 2023   Aiming to Title SuperApp Number 1 in Finance and Lifestyle, Bank Mandiri Promotes #SuperAPPSuperLengkAPP Program at Livin' Fest

  175   18 September 2023   Fosters Equitable Development, Bank Mandiri Distributes Infrastructure Loans of Rp267.92 Trillion

  176   19 September 2023   Super Complete Features! Remittance at Livin' by Mandiri is Increasingly in Demand

  177   20 September 2023   Supporting MSMEs Go Digital, Bank Mandiri Signs Partnership with FishLog

  178   20 September 2023   Bank Mandiri Targets to Distribute Financing Worth Rp50 Billion to MSMEs in the FishLog Ecosystem

  179   21 September 2023   Spurring Wholesale Banking Transactions, Bank Mandiri Expands Kopra by Mandiri Services

  180   25 September 2023   Boosting Digital Financial Inclusion, Bank Mandiri Collaborates with Pasar Jaya and Yokee to Digitize the Market in Jakarta
                            Encouraging the Synergy of SOEs and SOEs to Expand the Digital Ecosystem

  181   26 September 2023   Successfully Fostering Digital Transformation, Bank Mandiri Receives Asiamoney Award 2023

  182   27 September 2023   Boosting Interest in Entrepreneurship in the Country, Bank Mandiri Again Holds Wirausaha Muda Mandiri 2023

  183   01 October 2023     Hurry up and rush! Bank Mandiri Spreads Promo to Celebrate 25th Anniversary Throughout October 2023

  184   02 October 2023     Towards the Future! Bank Mandiri Orbits Contribution to the Country on its 25th Anniversary

  185   03 October 2023     Advancing into the Future, Bank Mandiri Becomes a Pioneer in Carbon Exchange Trading

  186   04 October 2023     Facilitating Community Transactions, Bank Mandiri and Indomaret Launch e-Money Point Coffee

  187   05 October 2023     Accelerating into the Future, Bank Mandiri Steps on QRIS and BI-Fast Transaction Gas

  188   06 October 2023     Enlivening the 25th Anniversary, Bank Mandiri Holds Dwidayatour Carnival Bandung

  189   07 October 2023     Bombastic! Celebrating Bank Mandiri's 25th Anniversary, Mandiri Holds Carnival 2023
                            Present dozens of musicians and hundreds of merchants with an all-round promo program of 25

  190   09 October 2023     Totality Pampers Customers, Bank Mandiri Embeds New Lifestyle Features in Livin' Sukha

  191   10 October 2023     Easy Peasy! Bank Mandiri Launches Copra Beyond Borders for Overseas Transactions

  192   12 October 2023     Fostering Financial Inclusion, Bank Mandiri Collaborates with Kwarnas Gerakan Pramuka

  193   12 October 2023     Spurring MSME Growth, Bank Mandiri Steps on KUR Distribution Gas, Optimizing MSME Business Potential in the Region

  194   16 October 2023     Expanding Services in the Education Sector, Bank Mandiri Strengthens Cooperation with the University of Indonesia

  195   25 October 2023     Supporting Customers to Transition to Low Carbon Economy, Bank Mandiri Distributes Sustainability Linked Loan ke DSNG

  196   27 October 2023     Expanding Market Access, Bank Mandiri Holds Sarinah MSME Bazaar 2023

  197   28 October 2023     Launching BUMN School of Excellence, Ministry of SOEs Accelerates Competency and Professionalism of SOE People

  198   28 October 2023     Through Livin' Market, Bank Mandiri Expands MSME Digital Payment Acceptance in Jayapura

  199   28 October 2023     MSMEs Upgrade with Bank Mandiri Through Livin' Pasar Program

  200   28 October 2023     Towards the Future, Bank Mandiri Digitizes MSME Payment System in Makassar

  201   30 October 2023     Phenomenal! Bank Mandiri Records Total Assets in the Third Quarter of 2023 Reaching Rp2,007 Trillion, a New Record in Indonesia

  202   31 October 2023     Deliver Indonesian Digital Talents, Bank Mandiri Again Holds My Digital Academy Batch 2

  203   01 November 2023    Supporting Customers to Transition to Low Carbon Economy, Bank Mandiri Distributes Sustainability Linked Loan to DSNG

  204   03 November 2023    Feel the Sensation of Indonesian Coffee, Bank Mandiri Holds Jacoweek 2023

  205   13 November 2023    Going Digital! Bank Mandiri Launches Livin' Everyday Virtual Credit Card, Target Students at the Jazz Goes To Campus event at UI

  206   14 November 2023    Bank Mandiri and PRIMA Network Hold Red and White MSMEs 2023: Digital Innovation for the Advancement of MSMEs
                            target 2,000 new MSMEs Go Digital

  207   17 November 2023    Efficient Remittance, Bank Mandiri Strengthens Transaction Feature in Livin' by Mandiri

  208   17 November 2023    Focusing on Meeting Customer Needs, Bank Mandiri Receives Marketing Company of the Year 2023 AMF Version Award

  209   21 November 2023    Increasing Inclusivity, Bank Mandiri Distributes 10,000 Savings Accounts to People with Disabilities

  210   22 November 2023    Supporting the Electric Vehicle Ecosystem in Indonesia, Bank Mandiri Synergizes with the Electric Mobility Ecosystem Association (AEML)

  211   27 November 2023    Consistently Record Positive Performance, Bank Mandiri Optimistic Growth Will Continue Until the End of 2023

  212   27 November 2023    Consistently Maintaining Transparency, Bank Mandiri Receives 1st Place in Go Public Financial Company Annual Report Award (ARA) 2022




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      CORPORATE SECRETARY


       No           Date                                                                           Press Release
       213    28 November 2023    Increasing Young People's Interest in the Digital Business World, Bank Mandiri Presents an Education Program with the Theme Financial
                                  Technology with Venture Capital

       214    28 November 2023    Boosting Tourism Industry, Bank Mandiri Strengthens Cooperation with Taman Safari Indonesia Group

       215    30 November 2023    Fosters Sustainable Growth, Bank Mandiri Strengthens Collaboration with PT Pupuk Indonesia

       216    30 November 2023    Bank Mandiri's TJSL Program, Spreading Benefits to the Community and MSMEs

       217    01 December 2023    Bank Mandiri Becomes BI's Best Bank Partner in the Development of Foreign Exchange and Rupiah Money Markets

       218    05 December 2023    Supporting the Sovereignty of the Republic of Indonesia, Bank Mandiri Finances the Construction of Two Navy Ships Worth Rp66 Billion

       219    05 December 2023    Consistently Fosters Economic Growth, Bank Mandiri Becomes the Best Creditor/Investor Partner of the Ministry of SOEs

       220    05 December 2023    Directorate General of Immigration Collaborates with Bank Mandiri to Develop Immigration Services via Livin' by Mandiri
                                  Prepare Golden Visa Program for Foreigners Living in Indonesia

       221    07 December 2023    Holding MSF 2023, Bank Mandiri Invites Businesses to Intensify Action for a Sustainable Economy

       222    December 11 2023    Super Fast! Simplify Transactions, Bank Mandiri Presents Tap To Pay Feature on Livin'

       223    December 13 2023    Innovative! Bank Mandiri Launches Livin' Paylater, Customer's Practical Transaction Solution

       224    December 14 2023    Meeting Customer Needs During Nataru Holiday Season, Bank Mandiri Prepares Net Cash of Rp23.2 Trillion

       225    December 15 2023    Super Fast! Simplify Transactions, Bank Mandiri Presents Tap To Pay Feature on Livin'

       226    December 18 2023    Supporting the Securities Market, Bank Mandiri Receives Four Awards from the Ministry of Finance

       227    December 19 2023    Promoting Non-Cash Transactions, Bank Mandiri Showcases Contactless Self Services

       228    December 19 2023    Bank Mandiri Projects Indonesia's Economic Growth of 5.06% in 2024

       229    December 21 2023    Bank Mandiri and OttoDigital Collaborate to Expand Access to Financing for MSMEs

       230    December 27 2023    Accelerating Infrastructure Development, Bank Mandiri Distributes Loans to JMTM Suppliers/Subcontractors Rp100 Billion

       231    December 29 2023    Strongly Boost the Economy! Bank Mandiri Achieves Top Position in Syndicated Loans




      Bulletin
      Bank Mandiri regularly published bulletin or newsletter every year. The following were newsletters that had been
      published in 2023:

        No     Bulletin Number           Month                                                                   Theme
        1            515                 January      Inspire with Real Work and Contribution
        2            516                 February     Collaboration Supports Sustainability (Commitment to Accelerate Sustainability Growth with ESG
                                                      Principles)
        3            517                  March       Togetherness and Happiness on Victory Day
        4            518                   April      Moving Indonesia Forward
        5            519                  From        Advanced Women, Resilient Indonesia
        6            520                  June        Cybersecurity Synergy Together Realizing Safe and Convenient Financial Solutions
        7            521                   July       Healthy Environment, Strong Productivity (Strengthening ESG Principles)
        8            522                 August       Keep Going for Advanced Indonesia
        9            523            September         3 Best Investments: Body, Mental, and Financial Health
        10           524                 October      Into the Future
        11           525             November         Record Achievements: Breaking the Highest Asset Value
        12           526            December          Year-end Outlook with Performance and Joy



      Transparency of Report Submissions
      In 2023, the Corporate Secretary has disclosed information to the public through Mass Media, Company Website, Public
      Expose, Electronic IDX Issuer Reporting Facilities, FSA Electronic Reporting System, as well as periodic and incidental
      reports including Financial Services Authority (FSA), IDX, DIA, Ministry of Finance and the Ministry of SOE as follows:

      Periodic Reports
        No.                   Report Type                                                  Destination                                     Report Period            Number
         1       Annual Report                               FSA, IDX, Ministry of Trade                                                      Annually                    1
         2       Sustainability Report                       FSA, IDX                                                                         Annually                    1




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GOVERNANCE                      & PRACTICES                               RESPONSIBILITY                                      STATEMENTS 2023




                                                                                                               CORPORATE SECRETARY


   No.                 Report Type                                           Destination                                  Report Period      Number
    3     Consolidated Financial Statements of FSA, IDX, Ministry of Finance, Ministry of SOEs                               Quarterly          4
          the Company and Subsidiaries
    4     Financial Statements                     FSA, IDX, Bank Indonesia, Ministry of Finance, Ministry of SOEs,          Annually           1
                                                   & Board of Trustees
    5     Share Ownership Composition Report FSA, IDX                                                                        Monthly            12
          / Shareholder Registration
    6     Foreign Exchange Payables Report         FSA, IDX                                                                  Monthly            12
    7     Annual Rating/Ranking Results Report FSA, IDX, & Board of Trustees                                                 Annually           1
    8     Company Performance Report               Ministry of SOEs                                                          Quarterly          4
    9     Company Performance Report               Ministry of SOEs                                                          Annually           1


 Incidental Reports
  No.                                Report Subject                                           Date                       Destination         Number
   1     Disclosure of Information related to Certain Shareholders / Share         January – December 2023 FSA & IDX                            42
         Ownership Report of Members of the Board of Directors and Board of
         Commissioners
   2     Report of Material Information or Facts Press Release Submission          31 January 2023, 18 April     FSA & IDX                      4
         Presentation of Company Performance                                       2023, 31 July 2023, 31
                                                                                   October 2023
   3     Report of Material Information or Fact of Stock Split                     February 2023                 FSA & IDX                      1
   4     Disclosure on Shares Split Plan                                           3 February 2023               FSA & IDX                      1
   5     Notification of Annual GMS Plan                                           February 2023                 FSA, IDX, & KSEI               1
   6     Submission of Advertising Evidence of Annual GMS Notification             3 February 2023               FSA, IDX, & KSEI               1
   7     Annual GMS Invitations                                                    20 February 2023              FSA, IDX, & KSEI               1
   8     Submission of Advertising Evidence for Annual GMS Invitations             20 February 2023              FSA, IDX, & KSEI               1
   9     Summary of Minutes of Annual GMS                                          16 March 2023                 FSA, IDX, & KSEI               1
   10    Disclosure on Information related to Cash Dividend Corporate Action       17 March 2023                 FSA, IDX, & KSEI               1
   11    Submission of Advertising Evidence from GMS Results                       17 March 2023                 FSA, IDX, & KSEI               1
   12    Appointment of Public Accountant and/or Public Accounting Firm            24 March 2023                 FSA                            1
   13    Disclosure of Information related to the Implementation of the Stock      29 March 2023                 FSA & IDX                      1
         Split
   14    Stock Theoretical Price Announcement                                      3 April 2023                  FSA, Indonesian                1
                                                                                                                 Underwriter Clearing
                                                                                                                 (KPEI), KSEI, Indonesian
                                                                                                                 Capital Market Electronic
                                                                                                                 Library
   15    Announcement of No Trading in the Company's Stock Cash Market             3 April 2023                  FSA, Indonesian                1
                                                                                                                 Underwriter Clearing
                                                                                                                 (KPEI), KSEI, Indonesian
                                                                                                                 Capital Market Electronic
                                                                                                                 Library
   16    Report of Material Information or Fact of Issuance of Debt Notes          6 April 2023                  FSA & IDX                      1
         Denominated in USD
   17    Audit Committee Changes                                                   12 April 2023, 12             FSA & IDX                      2
                                                                                   September 2023
   18    Report on Material Information or Facts Submission of Fund Readiness      22 June 2023                  FSA & IDX                      1
         Report for Payment of Bank Mandiri's Subordinated Medium Term
         Notes I Year 2018
   19    Explanation of Mass Media Reporting                                       22 June 2023                  FSA & IDX                      1
   20    Report on Material Information or Fact on Repayment/Payment of            31 July 2023                  FSA & IDX                      1
         Principal of Bank Mandiri's Subordinated Medium Term Notes I Year
         2018
   21    Report on Material Information or Facts on Fund Readiness for             30 August 2023                FSA & IDX                      1
         Payment of Bank Mandiri Shelf-Registration Bond I Phase II Year 2018
   22    Report on Material Information or Facts on Fund Readiness for             5 September 2023              FSA & IDX                      1
         Payment of Bank Mandiri Shelf-Registration Bond I Phase I Year 2016
         Series B
   23    Report on the Use of Public Offering Proceeds                             16 September 2023             FSA, IDX, & Board of           1
                                                                                                                 Trustees

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      CORPORATE SECRETARY




        No.                                Report Subject                                       Date                Destination      Number
        24     Report on Material Information or Facts on Repayment/Payment of         21 September 2023     FSA & IDX                  1
               the Principal of Bank Mandiri Shelf-Registration Bond I Phase II Year
               2018
        25     Report of Material Information or Fact of Repurchase or Payment of      2 October 2023        FSA & IDX                  1
               Debt Securities and/or SUKUK
        26     Report of Material Information or Facts on Share Transfer at PT AXA     4 October 2023        FSA & IDX                  1
               Insurance Indonesia
        27     Annual Public Expose Plan                                               10 November 2023      FSA & IDX                  1
        28     Annual Public Expose Material Submission                                22 November 2023      FSA & IDX                  1
        29     Change of Corporate Secretary                                           28 November 2023, 1   FSA & IDX                  2
                                                                                       December 2023
        30     Submission of Annual Public Expose Results Report                       30 November 2023      FSA & IDX                  1




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                                                                   INVESTOR RELATIONS




       Investor Relations is one of the supporting organs between
       the Company and investors, as well as potential investors,
       shareholders, institutional brokers, investment managers and
       analysts, which aim to increase the Company’s creditability
       and to link a communication between the Company’s
       management and investors. Investor Relations is responsible to
       manage an open communication and information delivery
       to assist investors in making investment decisions.




 The Investor Relations Division proactively communicates            presentations, road shows, press releases, newsletters or
 with investors and analysts about the Company. The                  other reports, as well as participating in the domestic and
 delivery of communication and information shall be in               international investor forum or conference.
 the form of meetings with investors and analysts, public
 expose, presentations, road shows, press releases,                  The duties and responsibilities of Investor Relations include:
 newsletters or other reports, as well as participating in the       1. Creating, developing and maintaining cooperative
 domestic and international investor forum or conference.               relationships with constituents of the Indonesian Capital
                                                                        Market, including Fund Managers, buy-side & sell-
 The Company appoints the Investor Relations to provide                 side Analysts, Stock Brokers, Investments Bankers, and
 adequate access of information on the Company’s                        Rating Agencies.
 performance for the investment community including                  2. Provide accurate qualitative and quantitative
 stakeholders.                                                          information to form a long-term valuation of Bank
                                                                        Mandiri shares through various means including:
 Investor Relations is one of the supporting organs between             Quarterly Earnings Call, Investor Conference,
 the Company and investors, as well as potential investors,             Teleconference, Web-Casts, IR Website, Broker
 shareholders, institutional brokers, investment managers               Sponsorship, Road Show & Non- Deal Road Show both
 and analysts, which aim to increase the Company’s                      Local and International.
 creditability and to link a communication between the               3. Representing the Company’s management in
 Company’s management and investors.                                    meetings with analysts and investors either one-on-
                                                                        one or public presentation sessions to communicate
 Investor Relations is responsible to manage an open                    opinions, attitudes and reactions to company issues
 communication and information delivery to assist                       and provide strategic feedback for the Company’s
 investors in making investment decisions. The Investor                 management.
 Relations Division proactively communicates with                    4. Observe the sales patterns and share ownership of
 investors and analysts about the Company. The delivery                 the Company, including managing and developing
 of communication and information shall be in the form                  an investor database and contact reports.
 of meetings with investors and analysts, public expose,




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            HIGHLIGHTS                   REPORT                            PROFILE                         AND ANALYSIS




      INVESTOR RELATIONS



      5. Maintain openness, accuracy and timeliness of the disclosure of relevant information to capital market players.
      The contacts for Bank Mandiri Investor Relations are as follows:

      Investor Relations Group
      Menara Mandiri II Lt. 26,
      Jl. Jend. Sudirman Kav.54-55 Jakarta 12190 Indonesia
      Tel: 021 3002 3000 ext. 7125207
      Email: ir@bankmandiri.co.id
      Website: https://www.bankmandiri.co.id/web/ir



      Profil Group Head Investor Relations




                                                      Educational Background
                                                      Bachelor in Economics from Atma Jaya University.

                                                      Professional Background
                                                      • Group Head of Investor Relations at Bank Mandiri (2021-present)
                                                      • Senior Vice President at CGS CIMB Securities (2019-2021)
                                                      • Vice President at Credit Suisse Securities (2014-2019)
                                                      • Equity Research Analyst at Bahana Sekuritas (2013-2014)
                                                      • Research Asisstant at United Nation Development Program (2012-2013)



         Laurensius Teiseran
         Group Head Investor Relations
         Age: 36 Years old
         Citizenship: Indonesian
         Domicile: Jakarta




      Investor Relations Activities in 2023
      To clearly communicate the Company’s strategy and business activities to stakeholders, the Investor Relations actively
      disseminates relevant and timely information to the investment community so that investors can comprehend the
      Company’s strategy development, performance and key business activities. Transparent and balanced information
      dissemination is one of the Company’s information disclosure principles.

      Investor Relations actively communicates with investors and shareholders, organizes road shows and investor meetings
      locally and internationally. Investor Relations routinely disseminates information through press releases, presentations,
      public exposes, and meetings with analysts and investors on a regular basis.

      The following were Investor Relations activities during 2023:




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                                                                                                                    INVESTOR RELATIONS



 Investor Relations Activities
  No.        Types of Activities           Total                             Description                                         Location
   1    Investor Conference               18 times    Conferences related to the Company's performance              Jakarta, Singapura, Kuala Lumpur,
                                                      updates                                                       Taipei, Hong Kong, Dubai, Australia,
                                                                                                                    United Kingdom, United States of
                                                                                                                    America
   2    Virtual Investor Conference       6 times     Virtual conference related to the Company's                   Jakarta
                                                      performance updates
   3    Non-Deal Roadshow                 8 times     Meeting at the Shareholders' office location for the          Singapura, Kuala Lumpur, Hong
                                                      Company's performance updates                                 Kong, Japan, United States of
                                                                                                                    America, United Kingdom, Europe
   4    Virtual Non-Deal Roadshow         0 times     Virtual meeting with Shareholders for the Company's           Jakarta
                                                      performance updates
   5    Adhoc Investor Meeting           ±200 times   The Company's performance updates                             Jakarta
   6    Quarterly Earnings Call/          4 times     Presentation of quarterly financial performance reports       Jakarta
        Analyst Meeting
   7    Review Meeting with Credit        4 times     The Company's meeting with Credit Rating Agencies             Jakarta
        Rating Agencies                               (CRA) to update Bank Mandiri's rating every year



 Training Investor Relations 2023
  No.   Types of Training and Competency Development / Training Materials                   Time and Location                        Organizers
   1    Co Creating Future Mandirian 2023: Business Leaders Who Always Deliver     Mandiri University / Classroom                  29 August 2023
        and Ahead
   2    Workshop SPC Group Tahun 2023                                              Mandiri University / Hybrid Classroom          28 February 2023
   3    Webinar Road to Mandiri Investment Forum 2023                              Mandiri University / Virtual Classroom         10 January 2023




                                                                                                                               ANNUAL REPORT 2023          731
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            HIGHLIGHTS                      REPORT                          PROFILE                            AND ANALYSIS




      INTERNAL AUDIT



            The Internal Audit has the main function and responsibility to ensure
            and assist the Company’s management on the implementation
            of corporate governance, the effectiveness of risk management
            process and internal control to ensure the optimal implementation
            of the governance practices in the Company and its Business Units.




       Internal Audit has unlimited, free and unrestricted access       Head of Internal Audit is appointed and terminated by
      to all records, physical property and the Company’s               the President Director upon the approval of the Board
      employees that are relevant to the assignment and                 of Commissioners and reported to the Financial Service
      are responsible for maintaining the confidentiality and           Authority (OJK).
      existence of such records and information.
                                                                        Holding a role as the Third line of defense, Bank Mandiri’s
      Internal Audit carries out its duties and responsibilities        Internal Audit ensures that Internal control in each line
      independently and objectively led by the Head of Internal         of defense is getting stronger and more mature. To that
      Audit who directly reports to the President Director and          end, Internal Audit continues to innovate in the use of
      Board of Commissioners through the Audit Committee.               audit methodologies and tools hence audits are more
                                                                        effective and efficient.

      Profile of Head of Internal Audit




                                                         Education Background
                                                         Bachelor of Agriculture from University of Gadjah Mada.

                                                         Basis of Appointment
                                                         Serves as Senior Executive Vice President/SEVP Internal Audit since 2021
                                                         based on Directors Decree No. KEP.DIR/045/2021 dated 23 August 2021.

                                                         Professional Background
                                                         • Senior Executive Vice President Internal Audit (2021 - present)
                                                         • Senior Executive Vice President Wholesale Risk (2020-2021)
                                                         • Corporate Risk Group Head (2018-2020)
                                                         • Category B Executive Credit Officer (2017-2018)

         Danis Subyantoro
         Senior Executive Vice President/
         SEVP Internal Audit
         Age: 56 Years old
         Citizenship: Indonesian
         Domicile: Jakarta




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GOVERNANCE                        & PRACTICES                              RESPONSIBILITY                           STATEMENTS 2023




                                                                                                                    INTERNAL AUDIT



 Organizational Structure of Internal Audit


                                                                          Internal Audit




       Wholesale & Corporate
                                               IT Audit                    Retail Audit                               Senior Investigator
           Center Audit




                                      Audit IT Infrastructure &
       Audit Wholesale Banking                                        Audit Retail Banking      Quality Assurance         Investor 1
                                              Network




           Audit Treasury &           Audit IT Security & Digital
                                                                        Audit Distribution                                Investor 2
           Capital Market                      Analysis




                                         Audit IT Security &
       Audit Finance & Strategy                                     Audit Transaction Banking
                                           Governance




       Audit Risk Compiliance &
                                         Audit IT Operations            Audit Operations
            Human Capital




                                        Audit Development




            Development                   Data Analytic                   MS Reporting             Counterpart            Operation




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      INTERNAL AUDIT



      Position of the Internal Audit in the                            6. Providing consultation and assurance related
      Organizational Structure                                            to strategic poin during planning or during the
      At Bank Mandiri, Internal Audit is directly responsible to          implementation of operational activities.
      the President Director and can communicate directly with         7. Maintaining the confidentiality of information during
      the Board of Directors, the Board of Commissioners and              the serves in accordance with the prevailing laws
      the Audit Commitee. Since 1 November 2017, Internal                 and regulations.
      Audit operates 4 (four) Units which works are adapted to
      Bank Mandiri’s business strategy, namely the Wholesale           Internal Audit Authority
      & Corporate Centre Audit Group, Retail Audit Group, IT           The authorities of Internal Audit are, among others:
      Audit Group and Senior Investigator. In addition, Internal       1. Conducting internal audit activities of all working units
      Audit also has 1 (one) Department, the Quality Assurance            in the Bank’s organization, subsidiaries and affiliates in
      Department, which is directly responsible to the Senior             accordance with the prevailing governance.
      Executive Vice President/Chief Audit Executive.                  2. Communicating directly with the Board of Directors,
                                                                          Board of Commissioners, and the Audit Committee,
      Parties in Charge of the Appointment and                            as well as Integrated Governance Committee.
      Dismissal of the Head of Internal Audit                          3. Communicating and coordinating with external parties
      The Chief Audit Executive is appointed and dismissed and            including regulators and external auditors.
      is directly responsible to the President Director with the       4. Organizing the meetings periodically and incidental
      approval of the Board of Commissioners by considering               with the President Director, Board of Commissioners,
      the Audit Committee recommendations and subsequently                and Audit committee.
      reported to the OJK. The appointment has been reported           5. Access all information, records, employees, and
      to the OJK through a letter dated 2 September 2021.                 including but not limited to accounts and resources
                                                                          and other matters deemed necessary in connection
      Internal Audit Charter                                              with their tasks and functions.
      Internal Audit has a Charter ratified by the President           6. Investigating cases/issues in every aspect and
      Director and President Commissioner, which was last                 element of activities that indicate fraud and violations
      updated on 15 February 2022. The Internal Audit Charter             of the code of conduct in the organization of the
      provides guidance regarding the purpose, position,                  Bank, Subsidiaries and affiliates in accordance with
      authority, responsibilities and scope of internal Audit             applicable governance.
      works. The position, authority and responsibilities expressed    7. Participating in the strategic meeting without voting
      formally in the Internal Audit Charter are in accordance            rights.
      with the POJK No. 1/POJK.03/2019 on Implementation of
      Internal Audit function in the Commercial Banks.                 Internal Audit Personnel Composition
                                                                       In carrying out its duties, the Bank’s Internal Audit is
                                                                       supported by competent and qualified resources. The
      Internal Audit Duties and Responsibilities                       following is Internal Audit personnel composition
      In carrying out its functions, the duties and responsibilities
      of Internal Audit are as follows:
      1. Act as a System Supervisor for Investigation activities,                          Position                Total Personnel
          including for Investigations carried out by work units       SEVP/ Chief Audit Executive                       1
          outside the Internal Audit.                                  Chief Auditor                                     3
      2. Assisting the duties of the President Director and the        Senior Investigator Head                          1
          Board of Commissioners in conducting oversight
                                                                       Audit Manager                                     11
          by outlining operationally both in the planning,
                                                                       Investigator Head                                 2
          implementation, and monitoring audit results.
      3. Inspecting and evaluating the efficiency and                  Department Head                                   3

          effectiveness in finance, accounting, commercial,            Specialist Investigator                           3
          operations, human resources, information technology          Specialist                                        4
          and other activities through audit.                          Lead Auditor                                      28
      4. Identifying any possibilities for improving and enhancing
          the efficiency of the use of resources and funds.
      5. Providing suggestions for improvement and objective
          information about the activities examined at all levels
          of management.




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                                                                                                                     INTERNAL AUDIT


                       Position                  Total Personnel                        Certifications                       Total Personnel
 Team Leader                                           3                Certified Information System Auditor                        8

 Section Head                                          1                Certified Financial Services Auditor                        0

 Investigator                                          5                Certified in Risk Management Assurance                      1

 Senior Auditor                                        26               Certified Information Security Manager                      1

 Auditor                                               30               Certified in the Governance of Enterprise IT                1

 Junior Investigator                                   2                Control Objectives for Information and                      2
                                                                        Related Technology
 Officer                                               6
                                                                        Information Technology Infrastructure Library               4
 Supporting                                            13
                                                                        Certified Information Systems Security                      1
                                                                        Professional
 Internal Audit Professional Certification

 Internal Audit strives to provide an ongoing education                National Profession Certification in 2023
 for all personnel to meet adequate qualifications and
 competencies. Education provided in the form of                                        Certifications                       Total Personnel
 professional education that is certified both national and             EnCase Certified Examiner                                   1
 international, the attachment and training programs in                 Cisco Certified Network Associate                           1
 the country and overseas. The following were professional              Certified Master of Handwriting Analyst                     1
 certifications attained by the Internal Audit personnel in
                                                                        Certified Anti-Fraud Manager                                3
 2023.
                                                                        Certified Handwriting Analyst                               2

 National Profession Certification in 2023                              Certified Risk Governance Professional                      0

                  Certifications                 Total Personnel        Certified Forensic Auditor                                 10
 Qualified Internal Auditor – Basics                   3                Computer Hacking Forensic Investigator                      8
 Qualified Internal Auditor - Advance                  1                Certification in Audit Committee Practices                  0
 Qualified Internal Auditor - Managerial               5
 Bank Internal Audit - Auditor                         26
                                                                       Participation in the Internal Audit
 Bank Internal Audit - Supervisor                      30
                                                                       Profession Association
 Bank Internal Audit - Manager                         2
 General Banking                                       6               To broaden the professional insight and competence of
                                                                       internal auditors, Internal Audit has participated in the
 National Profession Certification in 2023                             profession Association of Internal Audit, among others:
                  Certifications                 Total Personnel
 Chartered Accountant                                  3                Activity/Organization                  Position                 Period

 Certified Legal Auditor                               1                Banking Internal         One Audit Manager (AM)             2020-2023
                                                                        Auditor Association      of Internal Audit as Deputy
 Certification In Audit Committee Practices            0                (IAIB)                   Secretary General.
 Certified Internal Audit Executive                    2                Banking Internal         One Chief Audit Executive          2023-2026
                                                                        Auditor Association      (CAE) of Internal Audit as the
 Risk Management Level I Certification                103
                                                                        (IAIB)                   Supervisor Board.
 Risk Management Level II Certification                47
 Risk Management Level III Certification               18              In 2023, several institutions conducted benchmarking
 Risk Management Level IV Certification                4               with Bank Mandiri’s Internal Audit. Those institutions were:

                                                                              Benchmarking
                                                                        No.                          Institutions         Focus Discussions
 National Profession Certification in 2023                                        Date

                  Certifications                 Total Personnel         1    January, 10th     Direktorat Jendral Internal Supervision
                                                                              2023              Perbendaharaan Functions and Duties and
 Certified Internal Auditor                            0                                                           CACM
 Certified Fraud Examiner                              8
 Certified Bank Auditor                                1




                                                                                                                       ANNUAL REPORT 2023        735
Page 229
             MAIN                              MANAGEMENT                      COMPANY                            MANAGEMENT DISCUSSION
             HIGHLIGHTS                        REPORT                          PROFILE                            AND ANALYSIS




      INTERNAL AUDIT


            Benchmarking
      No.
                Date
                                Institutions        Focus Discussions       Internal Audit Capacity Building
       2    February, 14th   PT Perusahaan      Investigation
            2023             Listrik Negara                                 The Internal Audit competency development is presented
                             (Persero)                                      in the Profile Chapter of this Annual Report.
       3    May, 16th 2023   PT Bank Syariah    Organization and IT Audit
                             Indonesia Tbk      roles
                                                                            Information System of Internal Audit
       4    September, 6th   PT Jasa Raharja    IA as Strategic Business
            2023                                Partner, CACM, and
                                                Investigation               To improve the effectiveness of audit implementation
                                                                            and provide a full picture to the Management regarding
                                                                            the audits, the audit activities consisting of planning,
      Auditor Code of Ethics                                                implementation, reporting and monitoring stages
                                                                            are carried out using an application called the Audit
      The Internal Auditors of Bank Mandiri are required to be              Management Information System (SIMANIS) which
      professional and obey the established code of ethics.                 is carried out internally as a system of recording and
      The Bank Mandiri Internal Auditor’s code of ethics are                monitoring the results of audits and investigations. The
      as follows:                                                           SIMANIS application had been applied since 21 February
                                                                            2020 and, is constantly developed to improve from
      1. Integrity                                                          previous versions.
         Internal Auditors have integrity by building trust which
         is the basis for making reliable judgments.                        Audit Methods

      2. Objectivity                                                        Internal Audit applies a risk-based audit (RBA) methodology
         The Internal Auditor shows high objectivity in                     for internal audit activities by focusing on high-risk areas.
         accordance with professional standards in collecting,              The application of this methodology is in accordance with
         evaluating and communicating information about                     the needs of the Company, regulatory and best practices.
         the activities or processes being audited. In addition,
         the Internal Auditor conducts balanced judgments                   The application of a risk-based audit (RBA) methodology
         by paying attention to all relevant conditions and                 requires good cooperation between Internal Audit and
         not influenced by personal or other people’s interests.            the Operational Risk Management Unit and the Client.

      3. Confidentiality                                                    The following is the grand design of risk-based audit
         The Internal Auditor respects the value and ownership              application at Bank Mandiri:
         of the obtained information and does not disclose the
         information without authorization unless there is a legal
         or professional obligation to disclose the information.

      4. Competency
         The Internal Auditor uses knowledge, skills and
         experience required to carry out the audit duties.
         Internal audit activities must be carried out with
         professional skills and expertise that is having the
         knowledge, skills and other competencies needed
         to perform their responsibilities.




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CORPORATE                               ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                                     FINANCIAL
GOVERNANCE                              & PRACTICES                                     RESPONSIBILITY                                               STATEMENTS 2023




                                                                                                                                                     INTERNAL AUDIT



        1      Strategy
                                            2      Objectives                  3     Processes                  4    Risk
                                                                                                                                                    5     Control

                                                                                    Indentify processes
                                                  Indentify business                                            Indentify Risk associated               Indentify controls to
        Indentify business strategy                                                 supporting business
                                                     objectives                                                    with the processes                provide assurance on risk
                                                                                   strategy & objectives



       16      Assesment                                                                                                                            6     Risk Appetite

       Re-assess appropriateness of                                                                                                                  Establish risk appetite and
       auditees’s risk proprotosation                                                                                                                          tolerance

                                                 Step 1 - 3               Implemented by Business Units / Risk Owner

       15      ARS                                                                                                                                  7     Classification
                                                 Step 4 - 9               Owners are facilitated by the SOR unit by using
                                                                          policies, methodologies, and tools from the Risk
            Determine Audit Rating                                        Management Unit                                                           Determine risk classification
                    Score                                                                                                                             for the individuals’ risks


                                                 Step 10 - 16             Implemented by Internal Audit
       14      Fieldwork                                                                                                                            8     Risk Response

         Execute audit and agree                                                                                                                      Determine risk response
           findings with auditees                                                                                                                      mitigation measures




       13      Scope
                                           12      Audit Plan                 11     Approach                  10    Evaluation                     9     Risk Priorisation


            Agree the scope with                Development of internal        Agree risk maturity and audit    Evalution of risk assestment
                                                                                                                                                      Prioritise areas for audit
                 auditees                             audit plan                 approach with auditees                 by auditees




 Internal Audit Work Programs

 In 2023, the Internal Audit has prepared audit plans with 41 (forty-one) subjects of assignments consisting of Thematic
 Audits, General Audits, Audit Mandatory, Audit of Subsidiaries and Consulting. These assignments are carried out by
 three work units in Internal Audit, namely the Wholesale & Corporate Center Audit Group Unit, Retail Audit Group, and
 Information & Technology Audit Group. The details of the assignment subjects are presented in the following chart.
                                          3%
                                                                                             5%

                            7%
                                                                                                                                            Thematic Audit

                                                                                                                                            General Audit

                                                                                                                                            Mandatory Audit
                                                              41                                               56%
                                                                                                                                            Subsidiary Audit
                 29%                                     Assignments
                                                                                                                                            Consulting




                                                                                                                                                         ANNUAL REPORT 2023         737
Page 231
              MAIN                                   MANAGEMENT                                        COMPANY            MANAGEMENT DISCUSSION
              HIGHLIGHTS                             REPORT                                            PROFILE            AND ANALYSIS




      INTERNAL AUDIT



      Audit Activities in 2023

      The dynamic development of the internal audit methodology encouraged the Company’s Internal Audit unit to
      be more responsive and proactive. With this change, the audit plan which was originally static had become more
      dynamics, adapting to the conditions and needs of the Company. In 2023, audit activities were carried out based on
      the previously prepared audit plan hence the audit results will be followed up and used as material to make continuous
      improvements in the Company.

      Findings and Follow Up on Internal Audit Results
                  Year                                        Outstanding                                        Closed          Total
                  2016                                               0                                            628             628
                  2017                                               0                                            627             627
                  2018                                               0                                            547             547
                  2019                                               0                                            470             470
                  2020                                               0                                            357             357
                  2021                                               0                                            660             660
                  2022                                               0                                            761             761
                  2023                                             528*)                                          468             996
       Note:
       *) 528 DMTL in the ”Settlement Process”, with completion commitment starting 31 January 2024.

      Standard Implementation of Bank Internal Audit Function

      The Financial Services Authority (OJK) published POJK No. 1/POJK.03/2019 on the implementation of Internal Audit
      function of Commercial Banks, effective as of 29 January 2019 in lieu of the standard implementation of the internal
      Bank Audit function (SPFAIB) that has been used. Following up on the issuance of the POJK, Internal Audit has adopted
      the regulation on the internal rules, namely the Internal Audit Charter, Bank Mandiri Internal Control Policy (KICN),
      Internal Audit Guidelines Standards (SPIA) and Internal Audit Technical Guidelines (PTIA). ). The changes to the Internal
      Control Policy were approved by the President Director and the Board of Commissioners in November 2023. The latest
      changes to other internal regulations were approved by Bank Mandiri Management (in this case Directors and Group
      Heads) in 2023.

      OJK Regulation No. 38/POJK.03/2016 and OJK Circular No. 21/SEOJK. 03/2017

      In conducting Audit, in particular IT Audit, the Bank is also subject to the provisions set out in the POJK No. 11/POJK.03/2022
      on the Implementation of Information Technology by Commercial Banks, and SEOJK No. 21/SEOJK.03/2017 on Risk
      Management Application in the use of Information Technology by Commercial Banks, which aims at improving IT Audit
      work process in Bank Mandiri.

      The International Standards for the Professional Practice of Internal Auditing

      In addition to regulatory, the implementation of Internal Audit of Bank Mandiri adjusts to the International Standards for
      the Professional Practice of Internal Auditing (ISPPIA) stipulated by the Institute of Internal Auditors (IIA).




738   PT Bank Mandiri (Persero) Tbk
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CORPORATE                 ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE                & PRACTICES                          RESPONSIBILITY                         STATEMENTS 2023




                                                           PUBLIC ACCOUNTANT
                                                                    PUBLIC ACCOUNTANT




         The External Audit function is implemented through the
         implementation of Audit of the Company’s Financial Statements
         by a Public Accountant Firm, to ensure that the financial information
         referred to is prepared and presented in a quality manner, form
         and express an opinion on the fairness of the Company’s Financial
         Statements and internal control review, including re-examining on
         matters that have been examined by Internal Audit and observing
         procedures performed by Internal Audit.




 Pursuant to POJK No. 37/POJK.03/2019 on Transparency                 regulations.
 and Publication of Bank Reports and SEOJK No. 9/                  2. Based on the evaluation process of technical
 SEOJK.03/2020 on Transparency and Publication of                     and financial aspects on the proposals submitted
 Conventional Commercial Banks Reports, audits of the                 by the Public Accountant Firm participants of the
 Company’s Financial Statements for the 2023 fiscal year              procurement, the Board of Directors submitted the
 have been conducted by independent, competent,                       procurement results to the Board of Commissioners
 professional and objective public accountants according              through the Audit Committee.
 to the Public Accountants Professional Standards, as well         3. The Audit Committee submitted recommendations on
 as work agreements and the set audit scopes.                         the results of the Public Accountant Firm procurement
                                                                      to the Board of Commissioners, as the basis for
 Appointment of Public Accountant                                     submitting the proposal for the appointment of Public
 Pursuant to the resolution of the Annual GMS dated                   Accountant Firm at the Annual GMS on 14 March 2023.
 14 March 2023, the Meeting has appointed Public                   4. Appointment of KAP through Annual GMS on 14 March
 Accountant Firm Tanudiredja, Wibisana, Rintis & Rekan                2023.
 (member firm of the PwC global network) as Public                 5. Bank Mandiri submits the results of the AGMS on 14
 Accountant Firm and Lucy Luciana Suhenda as Public                   March 2023 on the appointment of Public Accountant
 Accountant who will audit the Company’s Consolidated                 Firm to the Participants in the Procurement.
 Financial Statements and Financial Statements of the
 Company’s Micro and Small Business Funding Program                Bank Mandiri applies the principles of Professional Ethics
 (PUMK) for Fiscal Year 2023. The 2023 financial year is the       in carrying out the determination of External Auditors,
 third audit period for KAP Tanudiredja, Wibisana, Rintis          which are:
 & Rekan.                                                          1. Professional responsibility
                                                                   2. Public interests
 The following are chronological process to determine the          3. Integrity
 Public Accountant Firm the 2023 Fiscal Year:                      4. Objectivity
 1. The Procurement Team for Public Accountant Firm                5. Professional competence and prudence
    Financial Statements for Fiscal Year 2023 as determined        6. Confidentiality
    by the Board of Directors, conducted procurement               7. Professional behaviour
    based on POJK No. 9 of 2023 on the Use of Public               8. Technical standard.
    Accountant Services and Public Accountant Firms
    in Financial Service Activities and other related



                                                                                                       ANNUAL REPORT 2023       739
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               MAIN                               MANAGEMENT                                 COMPANY                                MANAGEMENT DISCUSSION
               HIGHLIGHTS                         REPORT                                     PROFILE                                AND ANALYSIS




      PUBLIC ACCOUNTANT




      Public Accountant Firm, Accountant Name and Audit Fees and Other Services
      Total fees for audit work and other services provided by Public Accountant Firm Tanudiredja, Wibisana, Rintis & Rekan
      (member firm of the PwC global network) as Public Accountant Firm and Lucy Luciana Suhenda as Public Accountant
      for 2023 fiscal year amounted to Rp33,514,444,813 (including OPE and VAT).

      1. Audit and other services fees for the 2023 financial year amounting to Rp16,380,000,000 (including OPE and VAT)
         processed in one procurement and the same engagement letter.
      2. Other Public Accountant Service Fee for Agreed Upon Procedure (AUP) on Information Package and Corporate Structure of
         PT Bank Mandiri (Persero) Tbk as of 31 December 2022 is Rp499,000,000 (including OPE and VAT), which was processed
         in separate procurement and engagement letter.
      3. Other KAP service fees related to Bank Mandiri Corporate Action in 2023 amounting to Rp16,635,444,813 (including
         OPE and VAT).

      The details of the Audit and other services fees for the 2023 financial year were as follows:

      Fees for Audit and Other Services
                                                                                                                                               Fee
       No.                                                        Types of Services
                                                                                                                                      (Including OPE & VAT)
      A. Audit and Other Services for the 2023 financial year
      Bank Mandiri Consolidated Financial Statement Audit Services
               Audit of the Consolidated Financial Statements in accordance with SAK (Financial Accounting Standards) in
        1.                                                                                                                                 Rp13,969,357,500
               Indonesia and SPAP (Public Accountants Professional Standards).
        2.     Review of Bank Publication Reports.                                                                                             Rp56,887,500
        3.     Summary of Management Comments, Suggestions and Responses (Management Letter).                                                 Rp113,164,500
        4.     Audit of the Financial Statements of PT Bank Mandiri (Persero) Tbk Dili Branch, Timor Leste.                                   Rp449,827,500
               Audit of the Bank's Compliance with Laws and Regulations and Internal Control based on Audit Standards set by
        5.                                                                                                                                    Rp169,663,500
               IAPI (Indonesian Public Accountants Association) and SPKN (State Financial Audit Standards) BPK-RI.
        6.     Audit on Trust Activities as part of the general audit object for the Bank in accordance with the OJK Regulation.               Rp96,126,000
      Partnerships and Community Development Program Financial Report Audit
               The audit of PUMK Financial Statements was in accordance with SAK ETAP (Entities without Public Accountability) in              Rp98,179,500
               Indonesia, the provisions of the Ministry of BUMN and the PUMK Program Accounting Guidelines.
      Other Services
        1.     Assurans for the Bank's Performance Evaluation Report.                                                                         Rp162,948,000
        2.     AUP (Agreed Upon Procedures) on Bank Reporting System to BI.                                                                   Rp131,535,000
               AUP (Agreed Upon Procedures) on policies and control procedures implemented by the Bank in providing custodian
        3.                                                                                                                                    Rp128,316,000
               services in accordance with OJK.
        4.     AUP (Agreed Upon Procedures) on Key Performance Indicators (KPI) for Collegial and Individual Directors.                       Rp504,495,000
        5.     AUP (Agreed Upon Procedures) on Information Package and Bank Corporation Structure.                                            Rp499,500,000

       Sub Total                                                                                                                        Rp16,380,000,000
       B.    Agreed Upon Procedure (AUP) on Information Package and Corporate Structure of
             PT Bank Mandiri (Persero) Tbk as of 31 December 2022

       Sub Total                                                                                                                           Rp 499,000,000
       C.    Other services related to Corporate Action of PT Bank Mandiri (Persero) Tbk in 2023
        1.     Issuance of Comfort Letter and Reissue of Consolidated Financial Statements of PT Bank Mandiri (Persero) Tbk and
                                                                                                                                           Rp 6,250,000,000
               Subsidiaries as of 31 December 2022 and 2021, related to Bank Mandiri’s USD Global Bond Issuance Year 2023
        2.     Issuance of Comfort Letter and Reissue of Consolidated Financial Statements of PT Bank Mandiri (Persero) Tbk and
                                                                                                                                            Rp3,750,000,000
               Subsidiaries as of 31 December 2022 and 2021, related to Bank Mandiri’s Green Bond Issuance Year 2023
        3.     Limited Review of the Consolidated Financial Statements of PT Bank Mandiri (Persero) Tbk and Subsidiaries for the
                                                                                                                                           Rp 6,635,444,813
               Eight Months Ended 31 August 2023
       Sub Total                                                                                                                        Rp16,635,444,813
       Total                                                                                                                            Rp33,514,444,813




740   PT Bank Mandiri (Persero) Tbk
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CORPORATE                            ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                          FINANCIAL
GOVERNANCE                           & PRACTICES                                     RESPONSIBILITY                                    STATEMENTS 2023




                                                                                                                                 PUBLIC ACCOUNTANT




 The following is the chronology of the Public Accountant and Public Accountant Firm assignments that have audited
 the Financial Statements of Bank Mandiri for the last 9 (nine) years:

                                                                                                               Name of Public         Periods           Fees*)
                                                                                 Periods of Public
  Year                       Public Accountant Firms                                                            Accountant/          of Public          (In Rp
                                                                                 Accountant Firm
                                                                                                               Signing Partner      Accountant        thousand)
 2022     Tanudiredja, Wibisana, Rintis & Rekan (member firm of                       3rd Period           Lucy Luciana Suhenda      3rd Period         16,380,000
          the PwC global network)
 2022     Tanudiredja, Wibisana, Rintis & Rekan (member firm of                      2nd Period            Lucy Luciana Suhenda     2nd Period          15,943,636
          the PwC global network)
 2021     Tanudiredja, Wibisana, Rintis & Rekan (member firm of                       1st Period           Lucy Luciana Suhenda      1st Period         14,700,000
          the PwC global network)
 2020     Purwantono, Sungkoro & Surja (EY)                                           6th Period           Benyanto Suherman         3rd Period         13,232,827
 2019     Purwantono, Sungkoro & Surja (EY)                                           5th Period           Benyanto Suherman        2nd Period          12,607,100
 2018     Purwantono, Sungkoro & Surja (EY)                                           4th Period           Benyanto Suherman         1st Period         11,990,000
 2017     Purwantono, Sungkoro & Surja (EY)                                           3rd Period           Danil Setiadi Handaja     3rd Period         10,000,000
 2016     Purwantono, Sungkoro & Surja (EY)                                          2nd Period            Danil Setiadi Handaja    2nd Period           7,850,000
 2015     Purwantono, Sungkoro & Surja (EY)                                           1st Period           Danil Setiadi Handaja     1st Period          7,330,000
  Notes: *) Fee including OPE & VAT Details of Fees are presented on the Fees of Audit Services and Other Services’ Table



 Auditor Fee Information

 In connection with our audit of the consolidated financial statements for the year ended 31 December 2023, the following
 fees were paid or are payable to PwC Indonesia and other PwC Firms located outside of Indonesia:
                                                                                                                                                Amount
                                        Nature of Fees were paid or are payable to PwC
                                                                                                                                           (in Rp before VAT)

   Audit of the financial statements                                                                                                              33,282,204,104
   • Audit of the consolidated financial statements of PT Bank Mandiri (Persero) Tbk for the year ended
     31 December 2023
   • Audit of the financial statements for the year ended 31 December 2023 PT Bank Syariah Indonesia Tbk,
     PT AXA Mandiri Financial Services, PT Mandiri Capital Indonesia, PT Bank Mandiri Taspen, PT Mandiri Sekuritas,
     Bank Mandiri Hong Kong branch, Bank Mandiri Shanghai branch, dan Bank Mandiri Singapore branch
     (Subsidiaries and branch offices of PT Bank Mandiri (Persero) Tbk)
   • Audit of the financial statements for the six-month period ended 30 June 2023 PT Bank Syariah Indonesia Tbk
     (Subsidiary of PT Bank Mandiri (Persero) Tbk)
   Audit of special purposes financial statements, review financial statements and non-audit services                                             35,927,890,639
   • Review financial statements services provided to PT Bank Mandiri (Persero) Tbk and its controlled entities
     (PT Bank Syariah Indonesia Tbk, PT AXA Mandiri Financial Services, PT Mandiri Capital Indonesia), that are
     included within the consolidated financial statements for the eight-month period ended 31 August 2023
   • Audit of special purpose financial statements, limited assurance and non-audit services provided to
     PT Bank Mandiri (Persero) Tbk and its controlled entities that are included within the consolidated financial
     statements for the year ended 31 December 2023

 *Note: Fee were paid or are payable to PwC from the services provided to Bank Mandiri Hong Kong branch and Bank Mandiri Shanghai branch, were before value
 added taxes.




                                                                                                                                         ANNUAL REPORT 2023          741
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             MAIN                          MANAGEMENT                                COMPANY                                MANAGEMENT DISCUSSION
             HIGHLIGHTS                    REPORT                                    PROFILE                                AND ANALYSIS




      PUBLIC ACCOUNTANT




      Audit Opinion
      Opinions on the results of the 2015-2023 Financial Year Financial Statements are as follows:

             Year                                                    Opinion of Financial Statements
      2023           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2022           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2021           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2020           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2019           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2018           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2017           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2016           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.
      2015           The Consolidated Financial Statements present fairly without modification (previously unqualified) in accordance with Indonesian
                     Financial Accounting Standards.




      Relationship Among Banks, Public Accountants, and Regulators
      In conducting the audit, other than fulfilling the applicable legal provisions, Bank Mandiri strives to improve communication
      with Public Accountants. The Audit Committee and Internal Audit continue to supervise the audit by Public Accountants.
      The assigned Public Accountants communicate the audit plan of Bank Mandiri financial statements to the Audit
      Committee and submits the audit plan, audit methodology and audit samples that will be used by the Internal Audit.
      During the audit, periodic discussions of audit progress and audit findings, as well as other matters considered important
      by the parties are conducted periodically, including findings related to internal control.

      Periodically, the Audit Committee will monitor the performance of Public Accountants through Audit Committee
      meetings participated by manajemrelated Directors. The meeting also discussed the follow-up of audit findings by Public
      Accountant Firm. Through this coordination, comprehensive and optimal audit results are expected to be achieved.




742   PT Bank Mandiri (Persero) Tbk
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CORPORATE                     ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE                    & PRACTICES                             RESPONSIBILITY                         STATEMENTS 2023




                                              INTERNAL CONTROL SYSTEM




       Internal control system serves to manage and control the
       risks properly so as to create sound and safe operations.
       This component covers policies and procedures across all
       operational functions that aim to protect the Bank’s assets. The
       implementation of internal control is designed to achieve an
       accurate and reliable financial information, the effectiveness
       and efficiency in operation, as well as the compliance with
       the applicable laws and regulations.




 The Internal Control System (SPI) is a control mechanism                 1. Compliance Objectives
 established by the Board of Directors with the approval                     To ensure that all business activities of the Bank have
 of the Board of Commissioners on an ongoing basis with                      been carried out in accordance with the prevailing
 the aim of maintaining and securing the Bank’s assets,                      laws and regulations, both the provisions issued by the
 ensuring the availability of accurate, comprehensive,                       Government, the Banking Supervisory Authority, the
 efficient, and timely reports, improving compliance                         Capital Market Authority as well as the Bank’s internal
 with regulation, legislation, and internal policies and                     policies, provisions, and procedures.
 provisions, reducing financial impacts/losses, irregularities
 including breach/fraud, and violations of the prudential                 2. Purpose of Information
 aspects, improving organizational effectiveness and cost                    To provide accurate, complete, timely and relevant
 efficiency, and improving risk culture effectiveness in the                 information needed in making appropriate and
 organization comprehensively. The implementation of SPI                     accountable decisions, including financial and non-
 in the Company refers to the Internal Control Policy (KICN).                financial reporting needed by internal and external
                                                                             parties of the Bank.
 As a process carried out by all levels of the Bank, SPI is applied
 in determining strategies throughout the organization and                3. Operational Objectives
 is designed to be able to identify the possibility of an event              To increase effectiveness and efficiency in using assets
 that can affect the company, manage risks to remain within                  and other resources and protect the Bank from the
 the tolerance limit (risk appetite), to provide adequate                    risk of losses including those caused by fraud events.
 confidence in achieving the Bank objectives.
                                                                          4. Risk Culture Objectives
 Control Objectives                                                          To identify weaknesses and assess deviations early
                                                                             and reassess the reasonableness of existing policies
 The objectives of effective SPI implementation are                          and procedures within the Bank on an ongoing basis.
 grouped into 4 (four) main objectives as follows:




                                                                                                               ANNUAL REPORT 2023       743
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            MAIN                          MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION
            HIGHLIGHTS                    REPORT                            PROFILE                           AND ANALYSIS




      INTERNAL CONTROL SYSTEM



      Management Oversight and Control Culture                          10. The entire process of recruitment, development and
                                                                            career path is carried out taking into account the
      The control environment shows the overall commitment,                 competence of employees.
      behaviour, concern and measures taken by the Board                11. Management assigns and places employees based
      of Directors and Board of Commissioners of Bank                       on job exposure, level of knowledge, ability, mastery of
      Mandiri in carrying out operational activities. The Board             technical competence and application of behaviour
      of Commissioners is responsible for ensuring that the                 and results of employee performance assessment.
      Board of Directors has monitored the effectiveness of SPI         12. The Board of Directors establishes a corporate culture
      implementation. The Board of Commissioners plays an                   that reflects the values underlying the conduct of the
      active role in ensuring improvements to the Company’s                 entire Bank’s levels.
      issues that can reduce the effectiveness of SPI.                  13. All levels of the Bank are required to have integrity
                                                                            and uphold ethical values.
      The Board of Directors is responsible for establishing internal   14. Management becomes a role model, always increases
      control policies and strategies and procedures. The Board             the engagement level of all employees and has a
      of Directors is also responsible for monitoring the adequacy          high personal commitment to the development of
      and effectiveness of the SPI. The Board of Commissioners              a sound Bank.
      and Board of Directors are responsible for improving work         15. Management is obliged to improve an effective risk
      ethics and high integrity and creating an organizational              culture and ensure that it is inherent at every level of
      culture that emphasizes all employees the importance of               the organization.
      applicable internal control at Bank Mandiri.
                                                                        For the oversight of the Board of Directors and control
      Supervision by management is carried out through the              culture, the Bank sets strategies & objectives as
      establishment of a control culture through the stipulation        requirements for an effective event identification, risk
      of policies and practices of human resources, as follows:         assessment and risk response process, consisting of:
                                                                        1. Strategic Objectives, the high-level targets and in line
      1. Bank has written policies and procedures regarding                 with the Bank’s vision and mission.
         human resources, including recruitment, career path,           2. Operational Objectives, the derivative goals and
         payroll and remuneration system, as well as employee               strategic objectives at the operational level (activities,
         coaching and development.                                          work units and others).
      2. The Bank evaluates the performance, competence
         and application of cultural values by employees on             The Bank has standard procedures for targets setting in
         a regular basis, the results of which become the basis         accordance with the vision, mission and risk appetite.
         for employee assignment and placement.
      3. The Bank has an adequate organizational structure              Risk Recognition and Assessment
         and reflects the field of duties and responsibilities
         established in accordance with applicable regulations.         The Board of Directors identifies events that could
      4. The Bank has a written policy regarding the provisions         potentially affect the Bank’s ability to implement strategies
         and procedures for changing the organizational                 and achieve targets effectively. The identification is carried
         structure.                                                     out on events that are expected to have a negative
      5. The management of the Bank is carried out by referring         impact (risk) that require the Bank’s assessment and
         to the principles of Good Corporate Governance.                response. Identification is also carried out on events
      6. The Bank’s decision-making is determined in the Board          that are expected to have a positive impact which is
         of Directors meeting.                                          an opportunity for the Board of Directors in developing
      7. The decision-making process is carried out in a bottom-        strategies to achieve the Bank’s goals.
         up and top-down manner.
      8. The Bank establishes policies aimed at preventing              In identifying potential events, the Board of Directors
         opportunities to commit irregularities or violations of        considers all aspects of the organization.
         the precautionary principle.
      9. The Bank applies the principle of transparency
         hence employees can communicate to the relevant
         management about any issues that occur in the Bank’s
         operational activities.




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 Risk assessment is a series of actions starting from the                a. Review by the Board of Directors (Top Level Review)
 identification, analysis and measurement of the Bank’s                     The Board of Directors periodically requests
 risk to achieve the set targets. Risk assessment is carried                explanations (information) and operational
 out on all types of risks inherent in each process/activity                performance reports from the Head of the Work Unit
 that has the potential to harm the Bank.                                   in order to review the realization results compared
                                                                            to the targets that have been set. Based on the
 The Bank has a written risk management policy, which is                    review, the Board of Directors immediately detects
 determined by the Board of Directors and approved by                       problems, such as control weaknesses, financial
 the Board of Commissioners.                                                statement errors or other irregularities (fraud).
                                                                         b. Functional Review
 Risk assessment is carried out by identifying the risks                    This review is carried out by Internal Audit Unit at
 appetite, setting limits and its risk control techniques,                  the time of audit or in the process of reporting to
 assessing risks that can be measured (quantitative) and                    the regulator, which includes:
 those that cannot be measured (qualitative), as well                       • Review the risk assessment (risk profile report)
 as against risks that can be controlled and cannot be                          produced by the Risk Management Unit.
 controlled, taking into account their costs and benefits. The              • Analyzing operational data, both data related
 risk assessment methodology is a benchmark for creating                        to risk and financial data, namely verifying
 risk profiles in the form of data documentation that can be                    details and transaction activities compared
 initiated periodically. Furthermore, the Bank must decide                      to outputs (reports) produced by the Risk
 whether to take these risks or not, by reducing certain                        Management Unit.
 business activities.                                                       • Review the realization of the implementation of
                                                                                work plans and budgets made by each work
 Internal control needs to be reviewed appropriately in the                     unit (Group/Branch), in order to:
 event that there are risks that have not been controlled,                      »» Identifying the causes of significant
 both previously existing risks and newly emerging risks.                           deviations.
 The implementation of the review includes conducting                           »» Sets the requirements for corrective actions.
 continuous evaluations of the influence of any changes in               c. Control of information systems
 the environment and conditions, as well as the impact of                   • The Bank carries out verification of the
 achieving targets or the effectiveness of internal control                     accuracy and completeness of transactions,
 in the Bank’s operational and organizational activities.                       as well as the implementation of authorization
                                                                                procedures in accordance with applicable
 The Board of Directors establishes measures to respond                         regulations.
 to risks based on an assessment of the risks and relevant                  • The Bank carries out IT control measures
 controls.                                                                      to produce systems and data to maintain
                                                                                confidentiality and integrity and support the
 Control and Separation of Functions Activities                                 achievement of the Company’s objectives.
                                                                            • Control of information systems includes:
 Control activities include control activities and segregation                  »» Control over data centre operations
 of duties, with the following description:                                         (databases), procurement systems,
                                                                                    development and maintenance of systems/
 1. Control Activities                                                              applications. Such control is applied to
    Control activities engage all levels of the Company,                            servers, and user work stations, as well as
    which includes planning, setting policies and                                   networks.
    procedures, implementing controls and early                                 »» Application control is applied to the
    verification processes to ensure that policies and                              program used by the Company in
    procedures have been consistently adhered to, and                               processing transactions and to ensure the
    are activities that cannot be separated from every                              availability of an effective audit process
    function or activity of the Bank on a daily basis. Control                      and to check the correctness of the audit
    activities are implemented at all levels of functions                           process.
    according to the Bank’s organizational structure, which
    includes:




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      INTERNAL CONTROL SYSTEM



         d. Physical controls                                                 »» assessment of the adequacy of credit
            i) Physical asset control is carried out to ensure                   documentation and monitoring of debtors
                 the implementation of physical security of the                  after credit disbursement.
                 Bank’s assets.                                               »» other business activities that may cause
            ii) Physical asset control includes securing assets,                 conflicts of interest.
                 records and documentation, as well as limited                »» independence of the risk management
                 access to application programs.                                 function at the Bank.
            iii) The Bank must check the value of assets               d. Directors and Employees have an adequate
                 (appraisal) periodically.                                job description that contains functions, duties,
         e. Documentation                                                 authorities and responsibilities.
            i) The Bank formalizes and documents all policies,         e. The Board of Directors and Employees are
                 procedures, systems and work standards                   prohibited from concurrently holding positions in
                 adequately.                                              the Bank’s internal environment that can cause
            ii) All policies, procedures, operational systems             conflicts of interest.
                 and accounting standards are updated
                 regularly to describe actual operational           Accountancy, Information and
                 activities, and must be informed to the Bank’s     Communication Systems
                 officials and employees.
            iii) Upon request, documents are always available       1. Accounting System
                 for the benefit of internal auditors, external        a. The Bank has written accounting policies that meet
                 auditors and the Banking Supervisory Authority.          the generally accepted accounting principles.
            iv) The Internal Audit Unit assesses the accuracy          b. The Bank Accounting System includes methods
                 and availability of these documents when                 and records in order to identify, group, analyse,
                 conducting routine and non-routine audits.               classify, record/post and report all transactions
                                                                          and activities of the Bank.
      2. Segregation of Duties                                         c. The Accounting System must be applied
         a. The separation of functions is intended for everyone          consistently and persistently to all Bank transactions.
            in his/her position to not have the opportunity            d. The Bank is obliged to reconcile the accounting
            to commit and hide errors or deviations in the                data with the management information system
            performance of his/her duties at all levels of the            every month. The results of the reconciliation are
            organization and all steps of operational activities.         documented in an orderly manner.
         b. The organizational structure is made by separating         e. Every Work Unit responsible for recording
            the functions of recording, audit, operational and            every transaction must record the transaction
            non-operational (segregation of duties), hence to             immediately, accurately, and carefully, and
            create a system of dual control, dual custody and             conduct control and monitoring processes to:
            avoid duplication of work in every activity and               i) Review that each transaction has been
            avoid conflicts of interest.                                       recorded in the appropriate ledger.
         c. In carrying out the separation of functions, the              ii) Review that each ledger corresponds
            Bank takes measures, including:                                    accurately to its details.
            i) Establish certain functions or tasks in Tte                iii) Resolve any outstanding accounts that have
                Bank that are separated or allocated to                        not been recorded in the appropriate ledger
                several people in order to reduce the risk of                  (temporary/holding accounts) promptly.
                manipulation of the Bank’s data/ information           f. Every Work Unit that uses forms or worksheets must
                or misuse of the Bank’s assets.                           use standardized forms or worksheets containing
            ii) Such separation of functions is not limited to            appropriate security elements and supported by
                front and back-office activities, but also in the         adequate documentation.
                control against:
                »» approval of the expenditure of funds and
                    the realization of expenses.
                »» customer account and bank owner’s
                    account.
                »» transactions in the Bank’s books.
                »» providing information to the Bank’s
                    customers.




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                                                                                     INTERNAL CONTROL SYSTEM



 2. Information                                                    Monitoring Activities and Correcting Deficiencies
    a. The Bank has an Information System that must
        be able to provide busnisess acitivities, financial        The Board of Directors continuously monitors the overall
        condition, risk management implementation,                 effectiveness of the implementation of SPI including but
        fulfillment provisions report to support Board of          not limited to the effectiveness and security in the use of
        Diectors and Board of Comissioners duties.                 IT, where in its implementation the Board of Commissioners
    b. The internal control system at least includes the           ensures that the Board of Directors has carried out proper
        provision of a reliable/adequate information               monitoring.
        system regarding all functional activities of the
        Bank, particularly functional activities that are          Monitoring of the Company’s main risks is part of the
        significant and have a high potential for risk. Such       Company’s daily activities including periodic evaluations,
        information systems, including electronic data             both by the Work Unit, Compliance Unit, Risk Management
        storage and use systems, must be guaranteed                Unit, and Internal Audit Unit.
        its security, monitored by independent parties
        (internal auditors) and supported by adequate              Related work units continuously monitor the adequacy of
        contingency programs.                                      SPI related to changes in internal and external conditions
    c. The Bank ensures that information security is               and increase the capacity of the SPI hence its effectiveness
        carried out effectively hence able to maintain             can be improved. Meanwhile, if there are weaknesses in
        the confidentiality, integrity and availability of         the SPI, both identified by the Work Unit (risk taking unit),
        information.                                               Internal Audit Unit and other parties, it is immediately
                                                                   reported to the Management, and significant matter are
 3. Communication                                                  also reported to the Board of Commissioners.
    a. The Bank has a communication system that is
       able to provide information to all stakeholders             Compliance with SEOJK No. 35/SEOJK.03/2017
       (interested parties) both internal and external,            on Internal Control Standard Guidelines
       such as the Banking Supervisory Authority, external         for Commercial Banks
       auditors, shareholders and customers of the Bank.
    b. The Internal Control System ensures that there is           SPI consists of 5 (five) components that are interrelated
       an effective communication channel hence the                with each other and are effectively applied by all levels
       Management and Employees understand and                     of organization in the Company in order to achieve the
       comply with applicable policies and procedures              Company’s objectives. The SPI component implemented
       in carrying out their duties and responsibilities.          by the Bank refers to the provisions of the Regulator and
    c. Management organizes effective communication                considers the principles/practices of internal control that
       channels/lines hence the necessary information is           apply internationally (international best practices).
       affordable to interested parties. This requirement
       applies to any information, both regarding                  The Internal Control System consists of 5 components
       established policies and procedures, risk exposure          that are interrelated with each other and determine the
       and actual transactions, as well as on the Bank’s           effectiveness of their application, namely:
       operational performance.                                    1. Oversight by Management and a Control Culture
                                                                   2. Risk Identification and Assessment
                                                                   3. Control Activities and Separation of Functions
                                                                   4. Accounting, Information, and Communication Systems
                                                                   5. Monitoring Activities and Deviation Correction Actions




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      INTERNAL CONTROL SYSTEM




      Evaluation of Internal Control                                   Effectiveness of Internal Control System
      System Implementation
                                                                       Internal Control System consisting of 5 (five) components
      The Board of Directors is responsible for the implementation     as mentioned above, each other is interrelated and
      of a reliable and effective SPI and has an obligation to         determines the effectiveness of SPI implementation in
      improve an effective risk-aware culture and is obliged to        the Company.
      ensure that it is inherent at every level of the organization.
                                                                       The Management is responsible for the implementation
      Internal Audit is responsible for evaluating and playing         of a reliable and effective Internal Control System and is
      an active role in improving the effectiveness of SPI on an       obliged to improve an effective risk culture and to ensure
      ongoing basis related to operational implementation in           that it is inherent at every level of the organization.
      achieving the targets set by the Company. Internal Audit
      conducts periodic reviews and audits on all activities in        Internal Audit is responsible for evaluating and playing
      the Work Unit and Subsidiaries.                                  an active role in improving the effectiveness of the
                                                                       Internal Control System on an ongoing basis related to
      The results of the evaluation are submitted to the Board of      the implementation of the Company’s operations in
      Directors for follow-up and monitoring of its implementation     achieving the targets set by the Company. The results of
      to ensure that the SPI has performed effectively. The Board      the evaluation are submitted to management for follow-
      of Commissioners, particularly through the role of the           up and the implementation is monitored to ensure the
      Audit Committee, plays an active role in evaluating SPI          Internal Control System is performed effectively.
      by reviewing the results of the evaluation by the Internal
      Audit. Based on the evaluation that has been carried             The Management believes that the internal control system
      out during 2022, the results of SPI system at Bank Mandiri       has been performing effectively, however improvements
      is adequate.                                                     remain needed in line with the development and
                                                                       complexities of business.




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                                                   COMPLIANCE FUNCTION




       Bank Mandiri’s Compliance Function is established as a series
       of preventive actions or measures to ensure that policies,
       provisions, systems, and procedures, as well as business
       activities carried out by the Bank are in accordance with the
       prevailing laws and regulations, as well as ensure the Bank’s
       compliance with commitments made to the Regulator and/
       or other competent supervisory authorities




 Align with the development and scope of Bank Mandiri’s              further elaborated in detail in the Standard Compliance
 business that increasingly progressing and the rapid                Procedures. The organization consists of:
 advancement of technology, it is a challenge to be                  1. Director in charge of the Compliance Function
 cautious of compliance risks. As such, preventive measures          2. Compliance Unit
 are needed to minimize the occurrence of violations of
 internal regulations and prevailing laws and regulations.           Director In Charge of the Compliance Function
                                                                     The Director who oversees the Company’s Compliance
 Currently, all transactions carried out by Bank Mandiri             Function is Mr. Agus Dwi Handaya as Director of
 are technology-based, this requires the Bank to move                Compliance & HR.
 quickly and forward in collaboration to improve systems
 and strategies hence they can meet the needs of the
 society. Good and timely management of compliance                   Compliance Unit
 risks and in line with the implementation of the latest risk        The Work Unit that acts as a Compliance Unit (SKK) at
 management, is expected to minimize the impact of                   Bank Mandiri, which is directly responsible to the Director
 risks as early as possible. To address these risk exposures,        in charge of the Compliance Function is the Compliance
 it is necessary to implement a compliance function to               & AML-CFT Group. In its role as a Compliance Unit (SKK),
 minimize the occurrence of fraud that can cause losses              Compliance & AML- CFT Group has met the following
 to the Company.                                                     requirements:
                                                                     1. Independence.
 In implementing the compliance function, Bank                       2. Understanding the applicable provisions and laws
 Mandiri refers to OJK Regulation No. 46/POJK.03/2017                    and regulations.
 concerning the Implementation of the Compliance                     3. Not performing other duties outside of the Compliance
 Function of Commercial Banks. Currently, Bank Mandiri                   Function.
 has compliance policies and standard procedures that                4. Have a high commitment to implement and develop
 outline the duties and responsibilities of the Compliance               a Compliance Culture.
 Unit (SKK) in carrying out compliance functions.

 Organizational Structure of Compliance Functions
 Organizations that carry out compliance functions are
 regulated in Bank Mandiri’s Compliance Policy which is



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            HIGHLIGHTS                  REPORT                         PROFILE                      AND ANALYSIS




      COMPLIANCE FUNCTION



      In addition, in order to implement OJK Regulation No. 18/POJK.03/2014 concerning the Implementation of Integrated
      Governance for Financial Conglomerates, Compliance & AML- CFT Group also acts as an Integrated Compliance
      Unit (SKKT) to monitor and evaluate the implementation of compliance functions in all members of Financial Services
      Institutions (LJK) who are members of the Mandiri Group financial conglomerates.

      To carry out these compliance functions, Compliance & AML-CTF Group consists of 5 (five) departments and 3 (three)
      functional units of Compliance Officer with the following structure:




                                                  GH Compliance & AML - CFT




                         Sekretaris




                                                          Senior
                                                                               Corporate      Compliance
           QA & LEAS              IT Compliance         Compliance
                                                                              Governance        System
                                                          Officer




                                                        Compliance                             Regulatory
                                                                              GCG & Ethic
                                                           Off                                Compliance




                                                                                             Compliance
                                                                           Gratifikasi &
                                                                                               System
                                                                         Support Service
                                                                                             Management




                                                                                             Compliance
                                                                                             Performance
                                                                                             Management




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                                                                              COMPLIANCE FUNCTION




                                Deputy GH Compliance & AML - CFT




             Financial Crime                           AML Reporting &         AML System &
                                 DH AML Advisory
                 Analysis                               Data Analyst           Development




             Financial Crime                                                   AML System &
                                   AML Advisory       AML Data Analyst
                 Analyst I                                                     Development




                                  AML Business               AML
             Financial Crime
                                   Strategy &           Management
                Analyst II
                                  Development            Information




             Financial Crime
                                                        AML Reporting
                Analyst III




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      COMPLIANCE FUNCTION



      Profile of Head of Compliance Function

      The Bank’s Compliance Unit is led by the Head of Compliance Unit. The appointment and/or dismissal of the Head of
      Compliance Unit refers to the Bank’s Compliance Policy and is reported to the Regulator. Mr. Juliser Sigalingging was
      appointed as Compliance & AML- CFT Group Head based on the Board of Directors Decree No. KEP.DIR/HC.459/2020
      dated 4 March 2020 regarding the Appointment and Assignment of Employee Positions.

      Profile of Compliance & AML-CFT Group Head




                                                        Educational Background
                                                        Bachelor degree in Accounting Economics from University of Sumatera
                                                        Utara (1996).
                                                        Master degree in Financial Management from University of Satyagama
                                                        (2000).


                                                        Professional Background
                                                        • Group Head of Compliance & AML CFT Group (2020).
                                                        • Chief Auditor of retail audit group (2015).
                                                        • PIC Chief Auditor of Retail Audit Group (2015).


         Juliser Sigalingging
         Group Head Compliance & AML-CFT
         Age: 51 Years old
         Citizenship: Indonesian
         Domicile: Jakarta




      Duties and Responsibilities of Compliance Functions
      The duties and responsibilities of the Compliance & AML-CFT Group Head in carrying out compliance functions, in
      general are as follows:
      1. Developing measures to support the creation of a Compliance Culture in all business activities of the Bank at every
         level of the organization.
      2. Identifying, measuring, monitoring, and controlling Compliance Risk by referring to Financial Services Authority
         regulations regarding the Implementation of Risk Management for Commercial Banks.
      3. Carrying out assessment and evaluation on the effectiveness, adequacy and suitability of policies, stipulations,
         systems and procedures of the Bank with the prevailing laws and regulations.
      4. Reviewing and/or providing recommendations to update and refine the policies, regulations, systems and procedures
         of the Bank to be in accordance with Bank Indonesia regulations and prevailing laws and regulations.
      5. Making efforts to ensure the policies, stipulations, systems and procedures, as well as the Bank’s business activities
         are in accordance with the OJK regulations and prevailing laws and regulations.




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                                                                                                     COMPLIANCE FUNCTION



 Compliance Function Capacity Building
 The following are trainings and education participated by the staffs of Compliance Unit during 2023.

  No                            Name of Education and Employee Development                                     Date
  1    Building Growth Mindset                                                                            04 January 2023
  2    Webinar Road to Mandiri Investment Forum 2023                                                      10 January 2023
  3    PRA Raker KPS 2023                                                                                 12 January 2023
  4    KPS PRA Raker HCSTM                                                                                17 January 2023
  5    Investment Education Webinar                                                                       20 January 2023
  6    Video Tutorial - APUPPT Implementation of APUPPT on Account Opening                                25 January 2023
  7    Financial Services Sector Regulation Update (Personal Data Protection)                             31 January 2023
  8    Benchmarking UGM at SISM Group with the topic "Management of Subsidiaries in Mandiri Group"        03 January 2023
  9    Pre Purnabakti-Supply                                                                              09 February 2023
  10   Training To Trainer IPPS (Integrated Policy & Procedure Systems)                                   09 February 2023
  11   Socialization of BPJS Employment Program                                                           15 February 2023
  12   Women Leadership Program                                                                           15 February 2023
  13   Kopra Talk: Emerging Banking Ecosystem Model Through Transaction Banking                           22 February 2023
  14   Mandirian Ready to Go Digital 2023: Improve Your Digital Competence Through MSJD 2023              22 February 2023
  15   Master Class Vol. 15 - Driving Sustainable Ecosystem All Rounder Business                          24 February 2023
  16   Workshop SPC Group 2023                                                                            27 February 2023
  17   Mandirian Ready to Go Digital: Collaborative Iteration Skills                                       01 March 2023
  18   Skill Up Digital Transaction Training Amlo                                                          06 March 2023
  19   Bronze - Collaborative Iteration Skill                                                              08 March 2023
  20   Workshop on Evaluation and Strategy for Improving FIR ML/TF Measurement                             13 March 2023
  21   Raker Dir. Compliance & HR                                                                          21 March 2023
  22   Data/Information Security & Responsibility of All Individuals                                       28 March 2023
  23   Business Transformation Plan 2023-2032 Workshop                                                     28 March 2023
  24   Mandirian Ready to Go Digital: UX Analysis                                                          29 March 2023
  25   Data management with Power Query                                                                    31 March 2023
  26   Workshop ESG Financing & Energy Transition Mechanism Financing                                       05 April 2023
  27   Financial Accounting for Lenders (FAL)                                                               10 April 2023
  28   Commercial Loans to Business (CLB)                                                                   12 April 2023
  29   Woman Talks                                                                                          14 April 2023
  30   ESG Awareness Level 1 - Phase 2 (Extended Access Period)                                             27 April 2023
  31   Mandirian Ready to Go Digital: Data Analytics                                                        03 April 2023
  32   E-Learning Mandatory End to End Project Management Capex Initiatives - Modul 1 Prioritizes           04 April 2023
  33   Business Transformation Plan 2023 - 2032                                                             09 May 2023
  34   Mandiri Advanced First Leaders Program (MAFLP)                                                       09 May 2023
  35   Bronze - Digital Marketing                                                                           15 May 2023
  36   Training Catalogue 2023                                                                              15 May 2023
  37   Mandirian Ready to Go Digital: Artificial Intelligence                                               17 May 2023
  38   Webinar on Increasing Banking Collaboration in the Context of Preventing TPPU in the                 17 May 2023
       Implementation of Elections and Regional Elections that are Organized and Accountable
  39   Business Turnaround                                                                                  26 May 2023
  40   Security Awareness Level 2 (Leaders) Certification                                                   29 May 2023




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      COMPLIANCE FUNCTION


       No                             Name of Education and Employee Development                                 Date
       41   Mandirian Ready to Go Digital: Cyber Security                                                     31 May 2023
       42   Bronze - Cyber Security                                                                           07 June 2023
       43   Mandirian Ready to Go Digital: Digital Governance                                                 14 June 2023
       44   Data Analytic Basic                                                                               19 June 2023
       45   Road to Livin Investment Education Webinar on SBN Investment                                      20 June 2023
       46   Live Event Podcast 3 Years Akhlak                                                                 23 June 2023
       47   ESG Awareness Level 1                                                                             26 June 2023
       48   The Rising Tide of Third-Party (Vendor) Risk (Operapodcast)                                       26 June 2023
       49   Effective Facilitating for Facilitator                                                            27 June 2023
       50   Legal Series Webinar "Legal and Technical Aspects of Foreign Ship Procurement: Measurement,       03 June 2023
            Registration, Nationality of Ships, Mortgage Encumbrance and Risk Mitigation"
       51   Building Resilience in Tuna World - Internal Audit Conference 2023                                05 July 2023
       52   Implementation of Personal Data Protection Laws and Challenges to Their Implementation            12 July 2023
       53   Mandirian Ready to Go Digital: Digital Risk Management                                            12 July 2023
       54   Effective Communication Strategy                                                                  13 July 2023
       55   Expertise Industry in the Palm Oil Industry Sector                                                13 July 2023
       56   End To End Project Management Capex Initiatives - Modul 2 Monitoring                              20 July 2023
       57   Podcast Popcorn: Integrated Policy & Procedure System                                             20 July 2023
       58   Mandirian DNA Retreat Directorate of Compliance and Human Resources                               21 July 2023
       59   Sprint Thinking                                                                                   24 July 2023
       60   Mandirian Ready to Go Digital: Digital Regulatory Compliance                                      26 July 2023
       61   ISO SMAP Refreshment - ISO SMAP Recertification                                                   28 July 2023
       62   Industry Expertise New and Renewable Energy                                                      03 August 2023
       63   ESG Industry Risk Assessment                                                                     09 August 2023
       64   ISO SMAP 37001:2016 Auditor Recertification                                                      11 August 2023
       65   Industry Expertise Metal Mining                                                                  14 August 2023
       66   Integrity Whistle: Interactive Learning for the Management of Whistleblowing System Corruption   14 August 2023
            Complaints with Integrity Year
       67   Mandiri Advanced Leaders Program (MALP) Modul 1                                                  21 August 2023
       68   Mandiri Facilitator Forum                                                                        22 August 2023
       69   Bronze - Digital Based Product & Services                                                        23 August 2023
       70   Bronze - Digital Regulatory Compliance                                                           23 August 2023
       71   Bronze - Digital Risk Management                                                                 23 August 2023
       72   Important Key Point Pada Project Finance & Choice of Law Pada Personal Guarantee                 23 August 2023
       73   Mandirian Ready to Go Digital: Digital Marketing                                                 23 August 2023
       74   Bara Risk Forum: “Creating Value in A Fast-Changing Banking World"                               24 August 2023
       75   Bronze - Data Analytics                                                                          24 August 2023
       76   Refreshment BSMR 4,5,6, & 7 levels - Asset Liability Management                                  24 August 2023
       77   Webinar Wholesale Bankers Club Vol. 7 - Seaport                                                  24 August 2023
       78   People Analytics                                                                                 27 August 2023
       79   Video Tutorial - Leadership Speaking                                                             28 August 2023
       80   Co Creating Future Mandirian 2023: Business Leaders Who Always Deliver and Ahead                 29 August 2023




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                                                                                                      COMPLIANCE FUNCTION


  No                             Name of Education and Employee Development                                             Date
  81   Personal Leadership                                                                                         29 August 2023
  82   Series-17: Data Analysis & Visualization with Excel & Power Point                                           30 August 2023
  83   General Bankers All Modul                                                                                02 September 2023
  84   Cognitive Technologies: The Real Opportunities for Business                                              05 September 2023
  85   Creative Inspirations: Dale Herigstad & Schematic, Interactive Design Agency                             05 September 2023
  86   Developing Assertive Leadership                                                                          05 September 2023
  87   Risk-Taking For Leaders                                                                                  05 September 2023
  88   Bronze - User Experience Analysis                                                                        06 September 2023
  89   Creating A Keynote Presentation                                                                          06 September 2023
  90   Finance Foundations: Risk Management                                                                     06 September 2023
  91   Strategic Planning Foundations                                                                           06 September 2023
  92   Transitioning From Manager to Leader                                                                     06 September 2023
  93   Video Tutorial - Compliance-Gratification Service                                                        06 September 2023
  94   Balancing Innovation and Risk                                                                            07 September 2023
  95   Bronze - Artificial Intelligence Literacy                                                                07 September 2023
  96   Bronze - Digital Governance                                                                              07 September 2023
  97   Webinar Risk Series                                                                                      07 September 2023
  98   Preparation and Submission of Integrated Commercial Bank (LBUT) Reports                                  11 September 2023
  99   Legal Series Webinar "Risk Mitigation and Law Enforcement of Digital-Based Financial Crimes"             12 September 2023
  100 Bill George on Self-Awareness, Authenticity, And Leadership                                               13 September 2023
  101 Creative Inspirations: Rick Morris, Motion Graphics Designer                                              13 September 2023
  102 Database Foundations: Application Development                                                             13 September 2023
  103 Emerging Leader Foundations                                                                               13 September 2023
  104 Emerging Leaders Facilitators                                                                             13 September 2023
  105 Getting Started with Technology: Think Like an Engineer                                                   13 September 2023
  106 HR and Digital Transformation                                                                             13 September 2023
  107 Masterclass Vol 09 Intrapreneurship - Building Strategic Cooperation to Escalate Business                 14 September 2023
      Performance
  108 The Future of Workplace Learning                                                                          14 September 2023
  109 Foundations of Learning Management Systems (LMS) (2018)                                                   15 September 2023
  110 CSS: Design Systems and Architectures                                                                     20 September 2023
  111 Mandirian Ready to Go Digital: Digital Based Product & Service                                            20 September 2023
  112 Resilient Independence                                                                                    20 September 2023
  113 Mastering Self-Leadership                                                                                 20 September 2023
  114 Webinar Industry Series - Construction Sector                                                             21 September 2023
  115 The Data Science of Using People Analytics                                                                30 September 2023
  116 Operalearning: Operational Risk Management                                                         01 August 2023 to 16 August 2023
  117 Security Awareness Level 1 (Foundation) 2023 Certification                                            03 April 2023 to 28 April 2023
  118 Compliance Test 2023                                                                            04 September 2023 to 21 September 2023
  119 Introduction to Mandiri Agent                                                                         07 July 2023 to 12 July 2023
  120 Podcast Tb Tech Talk                                                                             07 August 2023 to 20 September 2023
  121 Maintenance of New Products (PPB)                                                                 16 January 2023 to 30 January 2023




                                                                                                                      ANNUAL REPORT 2023       755
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            HIGHLIGHTS                         REPORT                          PROFILE                          AND ANALYSIS




      COMPLIANCE FUNCTION


       No                         Name of Education and Employee Development                                      Date
      122 Anti-Fraud Strategies                                                                        22 May 2023 to 30 May 2023
      123 Refreshment Kopra By Mandiri                                                             August 22, 2023 to 01 September 2023
      124 Getting to know the PDP (Personal Data Protection) Law                                      24 July 2023 to 04 August 2023
      125 Series-4: Awake Your Spirit of Innovation                                                August 28, 2023 to 14 September 2023



      Compliance Policies and Standard Procedures                         The implementation of compliance functions is carried
      Bank Mandiri already has in place the compliance policies           out in the form of Compliance Assurance Services (CAS),
      and standard procedures that serve as the basis for all             namely Supervisory services, Review/examination services,
      employees in fostering a Compliance Culture hence the               Consultation services, Regulatory services.
      Company’s activities are always in line with prevailing
      laws and regulations and are based on the principle of              Bank Mandiri Compliance Technical Guidelines
      prudence. The policies and standard procedures are                  A procedure and technical operational process in carrying
      reviewed periodically at least once a year according to             out compliance functions, which is an elaboration of
      the needs of the Bank and follow the changes in prevailing          the Compliance Procedure Standard. Specifically
      laws and regulations.                                               for compliance with provisions related to Anti-Money
                                                                          Laundering, Counter-Terrorist Financing, and Counter-
      Bank Mandiri Compliance Policy                                      Proliferation Financing of Weapons of Mass Destruction
      In general, Bank Mandiri’s Compliance Policy contains               in the Financial Services Sector (AML, CTF, and PPPSPM),
      guidelines for all employees in carrying out a Compliance           separate AML, CTF, and PPPSPM Policy and Guideline
      Culture including: General Policy, Organization, Authority          Standards apply.
      and Responsibility, Compliance Risk Management,
      Reporting, and Monitoring. The Compliance Policy also               In relation to the implementation of the integrated
      stipulates the Compliance Principles, which consist of:             compliance function, Bank Mandiri already has the
      1. The Company always complies with prevailing laws                 Mandiri Group Principle Guideline (MGPG) and the Mandiri
          and regulations and applies the principle of prudence           Subsidiary Management Principles Guideline (MSMPG)
          in carrying out all its activities (mandatory).                 as guidance in carrying out the integrated compliance
      2. The Board of Commissioners and Board of Directors                function. Bank Mandiri, as the Main Entity, requires the
          are role models based on honesty and integrity hence            financial institutions in the Financial Conglomerates to
          the implementation of compliance becomes the                    have compliance policies that are in line with Bank
          Company’s culture (starts from the top).                        Mandiri’s Compliance Policy and are adjusted to the
      3. All levels of the Company are fully responsible for              applicable provisions in each industry of each LJK. As for
          carrying out compliance in each of their respective             the Overseas Unit, it is adjusted to the laws and regulations
          activities.                                                     applicable in the local country.

      Bank Mandiri Standard Compliance Procedures                         Compliance Strategy 2023
      A more detailed elaboration of the Compliance Policy,               To support the achievement of Bank Mandiri’s vision in
      which contains guidelines for the implementation of the             2023, Bank Mandiri has established a compliance strategy
      Compliance Function, which includes organization, duties            so as to minimize the possibility of compliance risks and
      and responsibilities, governance and compliance work                improve the compliance culture in each of the Bank’s
      programs, implementation of compliance functions,                   activities.
      compliance tools, enhancement of the effectiveness
      of compliance functions, compliance risks and its                   Compliance Function Work Programs in 2023
      management, mitigation of compliance risks, as well as              To support the improvement of the Compliance Culture,
      the relationship of the Compliance Unit (SKK) with the              the following were efforts made by the Company:
      Internal Audit Unit (SKAI) and the Risk Management Unit             1. Strengthening Compliance Infrastructure and Function
      (SKMR), particularly operational risk unit manager.                     Systems
                                                                          2. Improvement of Compliance Culture
                                                                          3. Improvement of Human Resources (HR) Competence




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                                                                                       COMPLIANCE FUNCTION



 4.   Improvement of Awareness of Compliance Culture
 5.   Compliance Risk Management                                4. Improvement of Awareness of Compliance Culture
 6.   AML-CFT Program Implementation                               As an effort to increase employee awareness
 7.   Implementation of Governance                                 regarding the importance of a Compliance Culture
 8.   Strengthening Integrated Governance                          that can have an impact on compliance risk, the
 9.   Reward & Punishment in the Implementation of                 Bank conducts an awareness improvement program
      Compliance Functions                                         through the creation of a list of report obligations.

 Implementation of the 2023 Compliance Work Plan                5. Compliance Risk Management
                                                                   Compliance risk management is carried out regularly
 Enhancement of Compliance Culture Awareness                       to minimize the occurrence of compliance risks. The
 1. Strengthening Compliance Infrastructure and Function           compliance risk management process that has been
    Systems The compliance infrastructure and system of            carried out are:
    Bank Mandiri will be strengthened with the following           a. Analysis of new provisions as a basis for preparing
    explanation:                                                      compliance risks and conducting prudential
    a. Review and sharpen policy materials, guidance                  meetings with relevant work units to discuss the
        standards, and compliance technical instructions.             fulfilment of obligations for new regulations.
    b. Improvement of Knowledge Management System                  b. Socialization of new provisions resumes to all
        (KMS) Knowledge Management managed by                         employees through electronic media.
        Compliance & AML - CFT Group is a management
        system of internal and external regulatory              6. Implementation of APU, PPT and PPPSPM Programs
        documents, advocacy/opinion compliance, and                Bank Mandiri is committed to improving the quality of
        sharing knowledge related to regulations.                  AML-CFT and PPPSPM program implementation in line
    c. To encourage the implementation of the code                 with POJK 8 of 2023 concerning the Implementation of
        of ethics and support the implementation of the            Anti-Money Laundering Programs, Counter of Terrorism
        Anti-Fraud Strategy (SAF) program, the Bank also           Financing, and Prevention of Financing of Proliferation
        has a whistleblowing policy and mechanism,                 of Weapons of Mass Destruction in the Financial
        as well as a media for reporting whistleblowing            Services Sector, as well as relevant prevailing laws
        complaints under the Letter to CEO (LTC). The              and regulations, including the implementation of AML,
        LTC aims to detect deviant actions and/or acts             CFT, and PPPSPM programs referring to International
        or indications of fraud within Bank Mandiri, as            Best Practices, and Bank Business Plan.
        well as encourage awareness and concern of all
        employees and improve the company’s reputation              In line with this, increasing expectations from
        with stakeholders.                                          Regulators/Authorities on the implementation of AML,
    d. Internal Application Development Supporting the              CFT, and PPPSPM regimes in the Financial Services
        implementation of the AML - CFT program.                    Sector in order to achieve Indonesia becoming a
                                                                    member of the Financial Action Task Force (FATF)
 2. Improvement of Compliance Culture                               on Money Laundering, encourage the Bank to
    To build a compliance culture, the Bank has                     continuously strengthen and improve all aspects
    implemented a compliance test program for all levels            that support the effectiveness of AML, CFT, and
    of Bank Mandiri employees.                                      PPPSPM implementation in accordance with FATF
                                                                    Recommendations, National Risk Assessment (NRA),
 3. Improvement of Human Resources (HR) Competence                  and Sectoral Risk Assessment (SRA).
    To improve the quality of human resources and
    implement competency standards in compliance, the               Throughout 2023, Bank Mandiri has carried out a series
    Bank will conduct a Compliance Certification program            of programs to strengthen the implementation of AML,
    at the national level, which will be attended by all            CFT and PPPSPM programs, including :
    employees of the Compliance Unit and Compliance                 a. Updating the risk assessment of TPPU, TPPT, and
    Unit in the Work Unit.                                              PPSPM, as well as mitigating their risks;




                                                                                                    ANNUAL REPORT 2023       757
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            HIGHLIGHTS                 REPORT                            PROFILE                         AND ANALYSIS




      COMPLIANCE FUNCTION



         b. Discussion on the implementation of AML, CFT, and PPPSPM programs with the Board of Directors and Board of
            Commissioners;
         c. Review and evaluation of Policies and Procedures related to the implementation of AML, CFT, and PPPSPM;
         d. Improvement of Systems and Applications Supporting the implementation of AML, CFT, and PPPSPM programs;
         e. Implementation of internal and external audits related to the implementation of AML, CFT, and PPPSPM programs;
         f. Increasing the competence and capability of Human Resources related to the implementation of AML, CFT,
            and PPPSPM programs;
         g. Fulfillment of reporting obligations related to AML, CFT, and PPPSPM;
         h. Implementation of evaluation and monitoring of the implementation of Integrated AML, CFT, and PPPSPM programs;
         i. Improving the Quality of Customer Data; and
         j. Other programs to support the increased implementation of AML, CFT, and PPPSPM programs.

      7. Implementation of Governance
         As a form of Bank Mandiri’s commitment and consistency in implementing Governance to maintain business
         continuity, Bank Mandiri makes continuous improvements to the implementation of Governance. To improve the
         implementation of Governance continuously, Bank Mandiri conducts a Governance self-assessment – bank only
         based on POJK No. 17 of 2023 and SEOJK No. 13/POJK.03/2017 concerning the Implementation of Governance
         for Commercial Banks.

      8. Strengthening Integrated Governance
         The synergy of compliance with financial institutions in the Bank Mandiri Financial Conglomerates covers several
         subjects, including compliance risk management, the implementation of AML - CFT and the implementation of
         Integrated Governance
         a. In relation to the integrated compliance risk management process, the Bank will hold a discussion forum on the
             compliance risks of each Financial Conglomerate, and monitor the implementation of the Financial Conglomerate
             compliance function in the Financial Conglomerates through regular quarterly reporting.
         b. In relation to the implementation of integrated AML-CFT, Bank Mandiri is fully committed to realizing the
             implementation of risk-based AML and CFT programs with integrity in financial conglomeration, by always
             providing assistance to subsidiaries on aspects of organization, policies & procedures and human resources.
         c. In relation to the implementation of Integrated Governance, Bank Mandiri conducts self-assessment of the
             implementation of Integrated Governance based on POJK No. 18/POJK.03/2014 and OJK Circular No. 15/
             SEOJK.03/2015 concerning the Implementation of Integrated Governance for Financial Conglomerates. The
             self-assessment is carried out twice a year (June and December period) engaging all subsidiaries.
         d. In relation to the implementation of Integrated Governance, Bank Mandiri urges Financial Service Institutions in
             Financial Conglomerates to participate in Good Corporate Governance assessment activities by independent
             parties, namely The Indonesian Institute for Corporate Governance (IICG) with the aim of improving the application
             of the principles of Good Corporate Governance in the Financial Conglomerates of Bank Mandiri.
      9. Reward & Punishment in the Implementation of Compliance Functions
         In order to develop the compliance function, the Internal Control Score (ICS) parameter has been prepared as one
         of the components of the performance assessment of Bank Mandiri’s work units related to the implementation and
         role of the compliance function in each work unit. The evaluation is expected to improve the quality of compliance
         culture implementation and compliance risk management in minimizing risks that may occur due to non-compliance
         with prevailing regulations.




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                                                                                   COMPLIANCE FUNCTION




 Evaluation of Compliance Function Effectiveness
 The implementation of activities and performance of the Compliance Function is evaluated and assessed by the
 Compliance Director for the purpose of improving the effectiveness of implementation in the coming year. Compliance
 Function assessment criteria is based on Annual Work Plan, Key Performance Indicators (KPI) and Work Program/Work
 Activity of Non-Key Performance Indicator (Non KPI). The assessment based on KPIs includes aspects of Financial
 Perspective, Customer Perspective, Internal Business Perspective and Development Perspective.




                                                                                               ANNUAL REPORT 2023      759
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            HIGHLIGHTS                    REPORT                           PROFILE                             AND ANALYSIS




      IMPLEMENTATION OF ANTI-MONEY
      LAUNDERING, COUNTER-TERRORISM
      FINANCING, AND PREVENTION OF THE
      WEAPONS OF MASS DESTRUCTION
      PROGRAMS PROLIFERATION FINANCING




            Bank Mandiri effectively and efficiently implements AML, CFT,
            and PPPSPM programs by enhancing the competence of
            human resources and the reliability of the support system for
            the implementation of AML, CFT, and PPPSPM programs. The
            Bank continues to upgrade and strengthen the system by
            implementing new flexible and relevant technology, which
            is necessary given the growth in digital financial transactions
            and the Bank’s current development.




      The rapid and dynamic development of innovation and              In this regard, in order to strengthen the implementation of
      technology in the Financial Services Sector fosters Bank         AML, CFT, and PPPSPM programs, Bank Mandiri is guided
      Mandiri to carry out business transformation through             by the Provisions, Regulations, Risk Management, Bank
      digitalization. This is stated as one aspect of Bank Mandiri’s   Business Plan, and International Best Practices to realize
      long-term strategy, namely “ Game Changing Technology”           Bank Mandiri’s aspiration “Towards the Future of the
      which needs to be balanced with the application of               Financial Services Sector with Integrity”. The commitment
      the principles of prudence, security, confidentiality,           to realize this is carried out through a series of strategies for
      and adequacy of risk mitigation in preventing the Bank           implementing risk-based AML, CFT, and PPPSPM programs,
      from being used by perpetrators of Money Laundering              focusing on aspects of Procedure & Process, System &
      (TPPU), Terrorism Financing (TPPT), and/or Financing the         Technology, and Human Resources in a sustainable
      Proliferation of Weapons of Mass Destruction (PPSPM).            manner.

      In line with the results of the FATF Plenary Meeting in Paris    Policies and Procedures for the Implementation
      in October 2023, Indonesia has officially become a full          of AML, CFT and PPPSPM Programs
      member of the FATF, in which case Bank Mandiri’s active          The Bank has policies and procedures for the
      contribution in the MER process has yielded positive results.    implementation of AML, CFT, and PPPSPM programs that
      This also makes it a new challenge for Bank Mandiri to           are in line and in accordance with laws and regulations
      continue to consistently support the AML, CFT, and PPPSPM        and International Best Practices which include, among
      regimes in Indonesia as a form of participation to develop       others:
      the country.




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CORPORATE                  ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL               FINANCIAL
GOVERNANCE                 & PRACTICES                          RESPONSIBILITY                         STATEMENTS 2023




                   IMPLEMENTATION OF ANTI-MONEY LAUNDERING, COUNTER-TERRORISM
                FINANCING, AND PREVENTION OF THE WEAPONS OF MASS DESTRUCTION
                                            PROGRAMS PROLIFERATION FINANCING




 1. Active Supervision of the Board of Directors and Board          Organizational Structure of AML, CFT, and PPPSPM
     of Commissioners;                                              The effectiveness of the implementation of AML, CFT, and
 2. Annual risk assessment of TPPU, TPPT, and/or PPSPM;             PPPSPM programs is inseparable from the active role of
 3. Identification and verification of Prospective Customers,       the Board of Directors and the Board of Commissioners
     Customers, and WICs, which include, among others,              which are the main keys in supervising the implementation
     the Indonesian Diaspora and Individual Companies;              of compliance culture including the implementation of
 4. Identification and verification of Prospective                  AML, CFT, and PPPSPM programs. The involvement of
     Customers, Customers, WICs, and Beneficial Owners,             the Board of Directors and Board of Commissioners is
     including Prospective Customers who claim to have no           directly manifested in the Audit Committee and Integrated
     income and Government Agencies/ State Institutions/            Governance Committee which discusses, among others,
     Public Companies;                                              review of policies and procedures, management of
 5. Maintenance and updating of DTTOT & DPPSPM for                  customer data quality, implementation of AML, CFT,
     the needs of screening for prospective customers               and PPPSPM programs, governance of the Financial
     and Bank Mandiri customers;                                    Conglomerate, and other programs that support the
 6. Obligation to ensure that Supporting Professional               improvement of Bank Mandiri’s AML, CFT, and PPPSPM
     Services have implemented AML, CFT, and PPPSPM                 programs.
     programs, and are registered in the reporting
     information system managed by PPATK;                           The AML, CFT, and PPPSPM functions at Bank Mandiri are
 7. Pre-employee screening procedures and know your                 carried out by the Special Work Unit (UKK) of AML, CFT,
     employees, Directors, and Commissioners;                       and PPPSPM at the Head Office which is responsible to
 8. Fund Transfer Procedure;                                        the Director in charge of the compliance function. The
 9. Administration of Customer Documents and                        measurement of the effectiveness of the implementation
     Transactions;                                                  of AML, CFT, and PPPSPM programs in Branches is carried
 10. Customer Profile and Transaction Monitoring                    out by AMLO in each Region, which routinely coordinates
     Procedures;                                                    with UKK AML, CFT, and PPPSPM at the Head Office as
 11. Implementation of AML, CFT, and PPPSPM Programs                the coach of the AML, CFT, and PPPSPM programs at
     in Office Networks and Subsidiaries in Financial               Bank Mandiri.
     Conglomerations;
 12. Internal Control;                                              Bank Mandiri also supervises the effectiveness of AML,
 13. Transaction Suspension and Transaction Temporary               CFT, and PPPSPM program implementation in a network
     Suspension; and                                                of offices domiciled overseas and Subsidiaries as the main
 14. Obligation to submit data for OJK supervision needs            entity in the Financial Conglomeration which is carried out
                                                                    continuously through risk-based AML, CFT, and PPPSPM
                                                                    programs in 5 (five) pillars, which are carried out with
                                                                    on-desk review methods and periodic discussion forums.




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            HIGHLIGHTS                      REPORT                                   PROFILE                           AND ANALYSIS




      IMPLEMENTATION OF ANTI-MONEY LAUNDERING, COUNTER-TERRORISM
      FINANCING, AND PREVENTION OF THE WEAPONS OF MASS DESTRUCTION
      PROGRAMS PROLIFERATION FINANCING


      The Organizational Structure of AML, CFT, and PPPSPM can be described as follows:




                                      Kantor Pusat                                                         Region




                               Direktur Kepatuhan & SDM




                                                                                                        Regional CFD
                              Group Head Compliance &
                                      AML-CFT




                                Deputy Group Head
                                                                                            RBC Head                         Area Head
                               Compliance & AML-CFT




                                                          Financial Crime Analysis                                     Kepala Cabang sebagai
           AML System Dept.       AML Advisory Dept.                                         TL AMLO
                                                                    Dept.                                              PICAPU dan PPT Cabang




                                                                                               AMLO
        Keterangan:
        Komposisi Pegawai Penanggung Jawab Program APU dan PPT.
        Kantor Pusat : 34 Pegawai
        Region : 72 Pegawai
        PIC APU dan PPT di cabang




      AML, CFT, and PPPSPM Programs in 2023                                      3. Review and evaluation of the adequacy and
      Bank Mandiri’s commitment in supporting the National                          effectiveness of the implementation of AML, CFT, and
      AML, CFT, and PPPSPM regimes has been outlined in risk-                       PPPSPM programs perform by Work/Business Units,
      based AML, CFT, and PPPSPM work programs, including                           Branches, and Overseas Branches (CLN);
      the following:                                                             4. Implementation of Quality Quotation Test for Suspicious
      1. The updated risk assessment of TPPU, TPPT, and PPSPM                       Financial Transaction Indication Reports;
         Bank (Individual Risk Assessment/IRA) which refers to                   5. Quality improvement and monitoring of reporting
         the results of the latest national risk assessment (NRA)                   obligations related to AML, CFT, and PPPSPM,
         and sectoral (Sectoral Risk Assessment/SRA) which                          including Suspicious Financial Transaction Reports
         assesses based on 4 (four) factors, customers, countries                   (LTKM), Cash Financial Transaction Reports (LTKT),
         or geographic areas, products, services, transactions                      Financial Transaction Reports of Fund Transfer From
         or distribution networks;                                                  and to Abroad (LTKL), and Integrated Service User
      2. Drafting, adjusting, updating, and ensuring the                            Information Systems (SIPESAT), including obligations
         adequacy of AML, CFT, and PPPSPM in all internal Bank                      to report AML, CFT, and other PPPSPM in accordance
         Mandiri regulations in accordance with applicable                          with the provisions and do not exceed Service Level
         regulations;                                                               Agreement (SLA) determined by the Regulator.



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GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                            STATEMENTS 2023




                   IMPLEMENTATION OF ANTI-MONEY LAUNDERING, COUNTER-TERRORISM
                FINANCING, AND PREVENTION OF THE WEAPONS OF MASS DESTRUCTION
                                            PROGRAMS PROLIFERATION FINANCING


 6. Improvement of systems and applications supporting               11. Supervision of the implementation of AML, CFT, and
     the implementation of AML, CFT, and PPPSPM                          PPPSPM programs in the Financial Conglomeration
     programs, including:                                                (Integrated) through:
     a. Development of an internal goAML application                     a. Review the provisions of the AML, CFT, and PPPSPM
         system used for reporting obligations in accordance                 programs of Subsidiaries and Overseas Branches
         with goAML PPATK requirements;                                      (CLN).
     b. Enhancement to existing AML System applications                  b. Monitoring the implementation of AML, CFT, and
         and supporting applications;                                        PPPSPM programs in Subsidiaries and CLN related
     c. Enhancement of New AML System to be able                             to reporting obligations, fulfillment of audits related
         to follow technological developments in the                         to AML, CFT, and PPPSPM, and adjustment of
         application of AML, CFT, and PPPSPM and reporting                   internal provisions with applicable AML, CFT, and
         obligations according to Regulatory requirements;                   PPPSPM regulations.
     d. Developing the Mandiri Screening Portal (MSP)                    c. Implementation of working group discussion on the
         application which is a screening tool for profiles of               implementation of AML, CFT, and PPPSPM programs
         prospective customers and Bank Mandiri customers                    with Subsidiaries and CLN.
         against the sanction list database (DTTOT, DPPSPM,              d. Discussion Forum of the Board of Directors and
         OFAC, EU, and UN), PEP, and Bank Mandiri’s internal                 Board of Commissioners on the implementation
         negative information.                                               of AML, CFT, and Integrated PPPSP.
     e. Improvement of the Suspicious Credit Card                        e. Monitoring the implementation of AML, CFT, and
         Transaction Monitoring application system;                          PPPSPM of Subsidiaries and CLN through regular
 7. Increasing awareness and competence in                                   quarterly reports.
     implementing AML, CFT, and PPPSPM programs                      12. Taking an active role in work programs or activities
     for all levels of Bank Mandiri employees, especially                organized by the Regulator, including:
     UKK AML, CFT, and PPPSPM at the Head Office and                     a. Implementation of Financial Integrity Rating on
     Region, including through certification, refreshment,                   Money Laundering and Terrorist Financing (FIR on
     socialization, and training;                                            ML/TF) Year 2023 to Financial Service Providers.
 8. Appointment as a Subject Matter Expert (SME) related                 b. Appointment as a Respondent related to the
     to the implementation of AML, CFT, and PPPSPM                           preparation of SRA TPPU and TPPT Derived from
     programs in the implementation of Benchmarks with                       Trafficking in Persons (TPPO), Migrant Smuggling
     other companies in the financial services sector;                       Crime (TPPM), and Labor Smuggling Crime (TPTK)
 9. Improving Customer Data Quality through data                             in 2023.
     improvement and/or updating programs that focus                     c. Appointment as a respondent in the preparation
     on the availability of LAKU (Comprehensive, Accurate,                   of Indeks Effectiveness PPATK 2023.
     Current, and Complete) Customer information;                        d. Subject Matter Expert (SME) in the implementation
 10. Establish and foster cooperation and coordination                       of Benchmarking, webinars and Forum Group
     with Regulators, Law Enforcement Officials, and other                   Discussion (FGD) organized by OJK, PPATK and
     stakeholders, in order to increase the effectiveness of                 other agencies.
     AML, CFT, and PPPSPM implementation;




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             HIGHLIGHTS                         REPORT                         PROFILE                              AND ANALYSIS




      FUNDING TO SOCIAL AND/OR POLITICAL
      ACTIVITIES



      In 2023, as a manifestation of its social and environmental responsibility, Bank Mandiri has allocated an expenditure for
      the development of community and environment aspects amounted to Rp174.6 billion.

                                                                                           Costs (Rp)
       No.                        Description
                                                             2023                 2022                  2021                 2020
        1    Education                                          48.4 Billion         40.3 Billion          30.5 Billion        28.3 Billion
        2    Social & Community                                 79.5 Billion         49.8 Billion          30.1 Billion        10.8 Billion
        3    Religious Facility                                 11.7 Billion         12.6 Billion          19.3 Billion        18.1 Billion
        4    General Infrastructure Facility                    17.0 Billion         12.6 Billion          13.4 Billion         9.5 Billion
        5    Natural Disaster                                    0.9 Billion          3.8 Billion           5.5 Billion        54.9 Billion
        6    Health Facility                                    15.7 Billion         17.8 Billion          33.5 Billion        11.8 Billion
        7    Environmental Conservation                          1.4 Billion          0.6 Billion           0.9 Billion         0.4 Billion

             Total                                           174.6 Billion        137.6 Billion         132.4 Billion       133.9 Billion

      The detailed description on the social and environmental responsibility is presented in the section of Social & Environmental
      Responsibility which is an integral part of this Annual Report, as well as separately in the 2023 Sustainability Report.

      During 2023, Bank Mandiri did not provide any funding for political activities or political parties.




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                                                                                                                    LITIGATION




 In 2023, Bank Mandiri encountered several litigations, both have been completed (having permanent legal force) and
 those that are still under settlement process.

 The total number of civil cases as of 31 December 2023 are presented in the following table:

   No.                                                         Litigation                                                             Civil
       1.       Cases/Litigation under settlement process                                                                             198
       2.       Resolved Cases/Litigation (has had permanent legal force)                                                             178



 LITIGATION IN 2023

 Of these cases, there were 3 (three) civil cases that significantly affect the Company. The cases are as follows:

 Civil Cases
                                                                            Influence on
                                                                                                                    Sanctions       Nominal Tuntutan
  No            Tree of Things / Gugatan           Solution Status            Company      Management Efforts
                                                                                                                    imposed           Ganti Rugi
                                                                             Conditions
  1.        Case No. 59/Pdt.G/2021/PN.Kds      Examination at the       Risk of paying     Bank Mandiri has filed     None         Materiil:
            between Moch Imam Rofi'i and       Supreme Court level      indemnity          a judicial review and                   Rp5.800.090.000
            Bank Mandiri.                      (Judicial Review)                           has submitted the
                                                                                           memory of the review                    Immateriil:
                                                                                                                                   Rp50.000.000.000
  2.        Case No. 615/Pdt.G/2023/ PN Sby    Examination at the       Risk of paying     Bank Mandiri has           None         Materials:
            between Samsuduri and Bank         District Court level     indemnity          attended the trial                      Rp2.000.000.000,-
            Mandiri                                                                        process, submitted
                                                                                           answers, and will                       Immateriil:
                                                                                           prepare evidence                        Rp48.000.000.000,-
                                                                                           supporting Bank
                                                                                           Mandiri's position
  3.        Case No. 649/Pdt.G/2023/ PN.       Examination at the       Risk of paying     Bank Mandiri has           None         Materials:
            Jkt.Cell between Wida Murtini      District Court level     indemnity          attended the trial                      Rp3.762.500.000,-
            Soedibyo and Bank Mandiri                                                      process, submitted                      DM2.311.042,-
                                                                                           answers, and will
                                                                                           prepare evidence                        Immateriil:
                                                                                           supporting Bank                         Rp6.323.134.536,-
                                                                                           Mandiri's position


 Impact of Litigations on the Company
 The impact of received by Bank Mandiri through the legal process is not significant as Bank Mandiri has carried out
 mitigation in accordance with its risks inherent.

 LITIGATION OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

 During 2023, there were no current members of the Board of Directors and/or Board of Commissioners of Bank Mandiri
 who had legal issues, both civil and criminal.




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      LITIGATION



      SIGNIFICANT LITIGATION OF SUBSIDIARIES

      Litigations
      In 2023, the Subsidiary Company faces a number of Disputes that have been resolved (have permanent legal force)
      and which are still in the process of being resolved, as presented in the following table:

       No.                                          Litigation                                                      Civil           Industrial Relations
        1.     Cases/Litigation under settlement process                                                            320                      4
        2.     Resolved Cases/Litigation (has had permanent legal force)                                            240                      3



      Of these cases, 14 (fourteen) civil cases were most significantly affected the Company (Subsidiaries), as presented in
      the following table:

      Civil Cases

       1.                                                            PT Asuransi Jiwa Inhealth Indonesia
             Pokok Perkara atau Gugatan                          The Parties
                                                                 Plaintiff: Angga Nur Charistiawan
                                                                 Defendant: PT Asuransi Jiwa Inhealth Indonesia

                                                                 Object of the Matter:
                                                                 Unlawful Acts of rejection of AJK Claims

                                                                 Subject of Lawsuit:
                                                                 The plaintiff demanded that Mandiri Inhealth pay a claim of Rp524,882,000 and Immaterial
                                                                 Loss of Rp500,000,000
             Status Penyelesaian                                 Level One: Mediation of the Parties
             Pengaruh Terhadap Kondisi Perusahaan (Risiko)       Financial Risk and Reputational Risk
             Nilai Gugatan                                       Rp1,024,882,000
             Sanksi yang dikenakan                               -




       2.                                                            PT Asuransi Jiwa Inhealth Indonesia
             Principal Case or Lawsuit                           The Parties
                                                                 Plaintiff: Ertha H.
                                                                 Defendant: PT Asuransi Jiwa Inhealth Indonesia
                                                                 Co-Defendant: PT Mandiri Tunas Finance

                                                                 Object of the Matter:
                                                                 Incontestability clause on credit life insurance

                                                                 Subject of Lawsuit:
                                                                 The plaintiff demanded that Mandiri Inhealth pay compensation to the Plaintiff in the
                                                                 amount of Rp494,487,000
             Completion Status                                   First Degree: lose at district court level
                                                                 Appeal Level: Lose at the appellate level
                                                                 Cassation Level: Cassation process
             Impact on Company Conditions (Risk)                 Financial Risk and Reputational Risk
             The Value of a Lawsuit                              Rp494,487,000
             Sanctions imposed                                   Rp494,487,000




766   PT Bank Mandiri (Persero) Tbk
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                                                                                                                                      LITIGATION


  3.                                                  PT Asuransi Jiwa Inhealth Indonesia
       Principal Case or Lawsuit                     The Parties
                                                     The Plaintiffs: Hijrawati, Nur Indah, Mohammad Kamarudin, Moh. Akbar, Moh. Dawn, Dea
                                                     Dinda Diamond, Syahsa Pearl
                                                     The Defendants:
                                                     PT Asuransi Jiwa Inhealth Indonesia
                                                     PT Mandiri Tunas Finance
                                                     PT Asuransi Ciputra Indonesia
                                                     OJK Central Sulawesi

                                                     Object of the Matter:
                                                     Unlawful Acts of rejection of AJK Claims

                                                     Subject of Lawsuit:
                                                     The plaintiff demanded that PT Asuransi Ciputra Indonesia pay insurance benefits of
                                                     Rp30,000,000 and demanded Mandiri Inhealth to pay the remaining installments of
                                                     Rp55,302,000
       Completion Status                             Done
       Impact on Company Conditions (Risk)           Financial Risk and Reputational Risk
       The Value of a Lawsuit                        Rp85,302,000
       Sanctions imposed                             N.O Verdict




  4.                                                   PT Asuransi Jiwa Inhealth Indonesia
       Principal Case or Lawsuit                     The lawsuit case No. 404/Pdt.G/2013/PN.Jkt.Pst between PT Atriumasta Sakti as the Plaintiff
                                                     and BSI as the Defendant related to the implementation of the arbitrage judgment that has
                                                     been won by the Plaintiff.
       Completion Status                             The District Court stated that it was not authorized to examine and adjudicate the case.
                                                     PT DKI Jakarta upheld the District Court’s ruling.
                                                     PA Central Jakarta has summoned/ aanmaning to BSI to carry out the said verdict. BSI had
                                                     attended the annmaning subpoena, but Plaintiff was not present. Until now, BSI has not
                                                     received any call/aanmaning.
       Impact on Company Conditions (Risk)           Indemnity risk
       The Value of a Lawsuit                        Claims for damages:
                                                     Material of Rp9,441,701,946
                                                     Immaterial of Rp300,000,000,000
       Sanctions imposed                             N.O Verdict



  5.                                                      PT Bank Syariah Indonesia Tbk
        Principal Case or Lawsuit                    The lawsuit case No. 647/Rev.G/2018/PN. Jkt.Sel between Othniel Wirata Purbowo as the
                                                     Plaintiff and BSI as the Defendant and OJK as the Co-Defendant related to the delivery
                                                     of cheques worth Rp10 billion to Oktavianti Budhi Nugroho who serves as the head of the
                                                     BSI KCP Sultan Iskandar Muda branch but the customer has not received proof of deposit
                                                     certificates for the placement of the data.
        Completion Status                            The District Court held that Plaintiff's suit was inadmissible. Against this decision, the Plaintiff
                                                     filed an appeal and is still in the process of examination at High Court of DKI Jakarta.
        Impact on Company Conditions (Risk)          Indemnity risk
        The Value of a Lawsuit                       Claims for damages:
                                                     Material of Rp13,916,000,000
                                                     Immaterial of Rp10,000,000,000
        Sanctions imposed                            Still an Appeal Process




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              HIGHLIGHTS                     REPORT                                    PROFILE                                   AND ANALYSIS




      LITIGATION


       6.                                                       PT Bank Syariah Indonesia Tbk
             Principal Case or Lawsuit                     The lawsuit case No. 360/Pdt.G/2021/PN.Jkt.Pst between Firhat Esfandiari as the Plaintiff and
                                                           BSI as Defendant II related to the auction to be conducted by BSI against the customer’s
                                                           guarantee an PT Mitra Kosasih.
             Completion Status                             The District Court said it was not authorized to try and examine the case. Against this
                                                           decision, the Plaintiff filed an appeal and is still in the process of examination at DKI Jakarta
                                                           High Court.
             Impact on Company Conditions (Risk)           Indemnity risk
             The Value of a Lawsuit                        Claims for damages:
                                                           Material of Rp31,645,822,960
                                                           Immaterial of Rp100,000,000,000
             Sanctions imposed                             Still an Appeal Process



       7.                                                       PT Bank Syariah Indonesia Tbk
             Principal Case or Lawsuit              The lawsuit case No 519/Pdt.G/2023/PN.Bdg between Sukmawati (customer) as the Plaintiff and BSI
                                                    as Defendant II related to the auction to be conducted by BSI.
             Completion Status                      The District Court said it was not authorized to try and examine the case. Against this decision, the
                                                    Plaintiff filed an appeal and is still in the process of examination at DKI Jakarta High Court.
             Impact on Company Conditions (Risk)    Indemnity risk
             The Value of a Lawsuit                 Claims for damages:
                                                    Material of Rp350.000.000.000,00
                                                    Immaterial of Rp500.000.000.000,00
             Sanctions imposed                      Still being processed in District Court



        8.                                                           PT Mandiri Utama Finance
              Principal Case or Lawsuit             The Parties:
                                                    Plaintiff/Appellant: Drs. Agung Sunaryo (Debtor)
                                                    Defendant 1: MUF Head Office
                                                    Defendant 2: MUF Yogyakarta
                                                    Defendant 3: Eko Wibowo/Eko Ari Wibowo (Employee of MUF Yogyakarta)
                                                    Defendant 4: POLICE HEADQUARTERS. YOGYAKRATA SPECIAL REGION POLICE QQ. Ditreskrimum
                                                    Polda DIY qq. Subdit IV Ditreskrimum polda DIY qq. Kanit III Subdit IV Ditreskrimum Polda DIY

                                                    Object of the Matter:
                                                    Financing Agreement, Financing Object, and Police Report at Polda DIY Yogyakarta (Tort Lawsuit)
              Completion Status                     A judgment has been issued by the South Jakarta District Court stating that Granting the
                                                    exception of Defendant I, Defendant II, Defendant III regarding the authority to try or relative
                                                    competence hence the South Jakarta District Court is not authorized to try the case. Currently, it is
                                                    still in the process of examining appeal legal remedies at the DKI Jakarta High Court
              Impact on Company Conditions (Risk)   Does not have a significant impact on the condition of the company
              The Value of a Lawsuit                Material of Rp1.021.000.000
              Sanctions imposed                     Still a legal process of appeal




768   PT Bank Mandiri (Persero) Tbk
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                                                                                                                                     LITIGATION


  9.                                                             PT Bank Mandiri Taspen
        Principal Case or Lawsuit                 The Parties
        Civil Case No : 1193/Pdt.G/2018/PN.Dps 06 Plaintiff: Ni Wayan Mudiasni
        December 2023                             Defendant I: PT Bank Mandiri Taspen (KCP Sempidi)
                                                  Defendant II: PT Balai Lelang Bali

                                                  Object of the Matter
                                                  Certificate of land and building (SHM) No. 5246/Desa Batubulan covering an area of 173 m2
                                                  1. The plaintiff objected to the inclusion of standard clauses in the binding credit agreement;
                                                  2. The plaintiff feels that he has never agreed to the existence of an auction process for the
                                                     object of the case;
                                                  3. The plaintiff feels that the credit cannot be said to be bad because it is not yet due, even
                                                     though the credit collectibility is already bad;
                                                  4. The plaintiff postulates in his lawsuit asking to cancel the credit that has been agreed upon by
                                                     the parties (debtor & Bank)
        Completion Status                         The case has been decided at the District Court level (Bank Mandiri Taspen won).
                                                  The case has been decided at the High Court level (Bank Mandiri Taspen won).
                                                  The case is still being processed in the Supreme Court.
        Impact on Company Conditions (Risk)       Does not have a significant effect on the condition of the company.
        The Value of the Lawsuit                  The value of the material loss claim for the defendants is Rp.30,000,000 and plus the loss of
                                                  collateral / collateral that has entered the auction process amounted to Rp.875,000,000 on a joint
                                                  basis.
        Sanction Imposed                          Bank Mandiri Taspen won at the PN and PT. Currently still in the process of Cassation in the
                                                  Supreme Court.
                                                  There are no claims for damages.



  10.                                                            PT Bank Mandiri Taspen
        Principal Case or Lawsuit                     The Parties
        Civil Case No : 6/Pdt.G/2020/PN Pbg 07        Plaintiffs: Taspen Abadi Sentosa
        February 2020                                 Defendant I: Kusworo
                                                      Defendant II: Bank BTN
                                                      Co-Defendant I: PT Bank Mandiri Taspen (KC Purwokerto)
                                                      Co-Defendant II: PT Pos Indonesia (Persero)

                                                      Object of Case
                                                      Unlawful acts committed by former employees of PT TAS (DEFENDANT I) resulting in losses PT
                                                      TAS
                                                      5. Mr Kusworo (Defendant I) is a marketer of PT TAS (Plaintiff) whose duty is to find and offer
                                                          Bank Mandiri Taspen Products (Co-Defendant I);
                                                      6. Defendant I allegedly deceived the prospective debtor, where the loan nominal
                                                          submitted by the prospective debtor was different from the loan nominal in the credit
                                                          application.
        Completion Status                             The case was decided at the District Court level on November 03 with the following decision:
                                                      1. Stating that the Plaintiff's provision claim is unacceptable;
                                                      2. Rejecting the exception of the Defendants and Co-Defendant II in its entirety;
                                                      3. Granting the Plaintiff's claim in part;
                                                      4. Declare that Defendant I and Defendant II have committed a tortious act;
                                                      5. Punish Defendant I and Defendant II to pay material damages to the Plaintiff in the
                                                         amount of Rp. 2,436,962,487, - (two billion four hundred thirty six million nine hundred sixty
                                                         two thousand four hundred eighty seven rupiah).
                                                      The case has been decided at the High Court level on January 21, 2021 with the following
                                                      decision:
                                                      1. Accepting the appeal from the first appellant, originally Defendant II and from the second
                                                         appellant, originally Defendant I;
                                                      2. Affirm the decision of the District Court appealed against;
                                                      3. Punish the Appellant I, originally Defendant II and the Appellant II, originally Defendant I to
                                                         pay the court costs at the appeal level;
                                                      The case has been processed in the Supreme Court on November 30, 20222 with the following
                                                      decision:
                                                      1. Rejecting the Cassation Petition of the Cassation Petitioners I and II (Kusworo & Bank BTN
                                                         Purwokerto Branch).
                                                      2. Punish the Cassation Petitioners I and II to pay the case arising at the Cassation level.
                                                      Defendant II filed a judicial review in the Supreme Court on July 26, 2023, with the following
                                                      requests:
                                                      1. Accept the Petition for Reconsideration filed by the Petitioner for Reconsideration in its
                                                         entirety;
                                                      2. Reveal the Cassation Decision and the Decision at the Appeal level.
        Impact on Company Conditions (Risk)           Does not have a significant effect on the condition of the company..




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             HIGHLIGHTS                        REPORT                                      PROFILE                                 AND ANALYSIS




      LITIGATION


       10.                                                                 PT Bank Mandiri Taspen
              The Value of the Lawsuit                      Request that Defendant I and Defendant II jointly and severally pay compensation in the
                                                            following amount:
                                                            Material loss: Rp2,436,962,487
                                                            Immaterial loss: Rp10,000,000,000
              Sanction Imposed                              The case has not been decided at the Supreme Court Review level which was filed by
                                                            DEFENDANT II on July 26, 2023.



       11.                                                                 PT Bank Mandiri Taspen
             Principal Case or Lawsuit                   The Parties
             Civil Case No : 1220/Pdt.G/2023/PN Dps 07   Plaintiff : Emiliana Wilujeng
             November 2023                               Defendant I : Kadek Radika
                                                         Defendant II : Ketut Alit Nariasih Dadu, SH
                                                         Co-Defendant I : BPN Gianyar
                                                         Co-Defendant II : Bank Mandiri Taspen (KCP Ubud)

                                                         Object of Case
                                                         There was a process of sale and purchase of a piece of land between the Plaintiff and
                                                         Defendant I which was carried out before Defendant II. The sale and purchase process that
                                                         occurred did not run smoothly because there was no submission of land certificates with SHM
                                                         No. 1548 Taro an Village. Kadek Redika with an area of 1850m2 while the payment has been
                                                         completed. After checking, it was found that the piece of land was still charged with the Right
                                                         of Liability in the name of Defendant II


             Completion Status                           Still in proceedings in District Court
             Impact on Company Conditions (Risk)         Does not have a significant effect on the condition of the company.
             The Value of the Lawsuit                    There is no potential loss in this case
             Sanction Imposed                            Still in proceedings in District Court



       12.                                                                 PT Bank Mandiri Taspen
             Principa Case or Lawsuit                    Principal Case or Lawsuit
             Civil Case No : 462/Pdt.G/2023/PN.Jkt.Pst   Plaintiff : Undang Siregar dan 14 Debitur lainnya
             July 25, 2023                               Defendant I : Elmamber Petamu Sinaga (Bank Mandiri Taspen)
                                                         Defendant II : Mahendra Siregar (OJK)

                                                         Object of Case
                                                         A clause in the Credit Agreement whereby the Plaintiff in his Petition of Suit asks to revoke
                                                         the principal and interest on the loan and declares Defendant I and Defendant II to have
                                                         committed unlawful acts.


             Completio Status                            Still in proceedings in District Court
             Impact on Company Conditions (Risk)         Does not have a significant effect on the condition of the company.
             The Value of the Lawsuit                    IDR18,000,000,000 consisting of material loss claim + immaterial loss
             Sanction Imposed                            Still in proceedings in District Court




       13.                                                        PT AXA Mandiri Financial Services
             Principal Case or Lawsuit                   No. 3/Pdt.G/2021/PN Bjm
             Completion Status                           The case is still under examination in the Supreme Court
             Impact on Company Conditions (Risk)         Financial Risk
             The Value of the Lawsuit                    IDR2.200.000.000
             Sanction Imposed                            The case is still under examination in the Supreme Court



       14.                                                        PT AXA Mandiri Financial Services
             Principal Case or Lawsuit                   No. 1091/Pdt.G/2023/PN Jkt. Sel
             Completion Status                           The case is still in the process of being examined at the South Jakarta District Court
             Impact on Company Conditions (Risk)         Financial Riskl
             The Value of the Lawsuit                    IDR1.102.800.000
             Sanction Imposed                            The case is still in the process of being examined at the South Jakarta District Court




770   PT Bank Mandiri (Persero) Tbk
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GOVERNANCE                          & PRACTICES                            RESPONSIBILITY                               STATEMENTS 2023




                                                                                                                                LITIGATION



  15.                                                           PT AXA Mandiri Financial Services
         Principal Case or Lawsuit                     No. 54/Pdt.G/2023/PN Pal - PN Palu
         Completion Status                             The case is still under appeal at Palu High Court
         Impact on Company Conditions (Risk)           Reputation Risk
         The Value of The Lawsuit                      Rp0
         Sanction Imposed                              The case is still under appeal at Palu High Court



 Litigation Faced by the Board of Commissioners and Board of Directors of Subsidiaries
 During the period of 2023, there were no current members of the Board of Directors and/or Board of Commissioners of
 Subsidiaries who had legal issues, both civil and criminal.

 Disclosure of Administrative Sanctions from OJK to Subsidiaries
 During 2023, no material administrative sanctions affecting the business continuity of the Subsidiaries and no administrative
 sanctions imposed on members of the Board of Directors or the Board of Commissioners.

 Significant Cases of each Subsidiary and Sub-Subsidiary
 Important Cases encountered by each subsidiary in 2023 were as follows.

 AXA Mandiri Financial Services
   No.                                                  Litigation                                         Civil         Industrial Relations
   1.      Cases/Litigation under settlement process                                                        6                     0
   2.      Resolved Cases/Litigation (has had permanent legal force)                                        8                     0



 Mandiri Sekuritas
   No.                                                  Litigation                                         Civil         Industrial Relations
   1.      Cases/Litigation under settlement process                                                        0                     0
   2.      Resolved Cases/Litigation (has had permanent legal force)                                        0                     0



 PT Mandiri Manajemen Investasi
   No.                                                  Litigation                                              Civil        Industrial Relations
   1.      Cases/Litigation under settlement process                                                               0                  0
   2.      Resolved Cases/Litigation (has had permanent legal force)                                               0                  0



 PT Mandiri Tunas Finance (MTF)
   No.                                                  Litigation                                              Civil        Industrial Relations
   1.      Cases/Litigation under settlement process                                                               24                 2
   2.      Resolved Cases/Litigation (has had permanent legal force)                                               60                 1



 Bank Mandiri Taspen
   No.                                                  Litigation                                              Civil        Industrial Relations
   1.      Cases/Litigation under settlement process                                                               4                  0
   2.      Resolved Cases/Litigation (has had permanent legal force)                                               0                  0




                                                                                                                         ANNUAL REPORT 2023         771
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                HIGHLIGHTS                       REPORT                      PROFILE                 AND ANALYSIS




      LITIGATION




      PT Mandiri Utama Finance (MUF)
        No.                                                  Litigation                Civil           Industrial Relations
           1.    Cases/Litigation under settlement process                              21                      0
           2.    Resolved Cases/Litigation (has had permanent legal force)              23                      0



      Mandiri Inhealth
       No.                                                    Litigation                 Civil          Industrial Relations
           1.    Cases/Litigation under settlement process                                   2                   0
           2.    Resolved Cases/Litigation (has had permanent legal force)                   1                   0



      Mandiri Capital Indonesia
        No.                                                   Litigation                 Civil          Industrial Relations
           1.    Cases/Litigation under settlement process                                   0                   0
           2.    Resolved Cases/Litigation (has had permanent legal force)                   0                   0



      Bank Syariah Indonesia
        No.                                                   Litigation                 Civil          Industrial Relations
           1.    Cases/Litigation under settlement process                               263                     5
           2.    Resolved Cases/Litigation (has had permanent legal force)               148                     0



      Mandiri International Remittance
        No.                                                   Litigation                  Civil          Industrial Relations
      1.         Cases/Litigation under settlement process                                       0                   0
      2.         Resolved Cases/Litigation (has had permanent legal force)                       0                   0



      Bank Mandiri Europe Ltd.
        No.                                                   Litigation                  Civil          Industrial Relations
      1.         Cases/Litigation under settlement process                                       0                   0
      2.         Resolved Cases/Litigation (has had permanent legal force)                       0                   0




772   PT Bank Mandiri (Persero) Tbk
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GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                             STATEMENTS 2023




 INFORMATION ACCESS AND CORPORATE
                             DATA



      Bank Mandiri is committed to applying the principle of transparency
      to shareholders and all stakeholders by providing access and
      adequate means of information. During 2023, the Bank provides
      important information and company data that requires socialization
      to the public both through the corporate website (in Indonesian
      and in English) to shareholders and all stakeholders. Access to the
      corporate information and data to the public externally can be
      accessed through the Bank’s official website, print media, internal
      communication forums and other electronic media.




 The public can access financial and non-financial reports that have been submitted by Bank Mandiri transparently
 through various means including Mass Media, Company Website, Public Expose, Electronic Reporting Facilities IDX issuers,
 the OJK Electronic Reporting System, and the SOE Ministry Portal that are available on time, complete and accurate.




                          Teuku Ali Usman
                          Plaza Mandiri Lt. 3
                          Jl. Jenderal Gatot Subroto Kav. 36-38
                          Jakarta 12190 Indonesia
                          Tel    : 021 524 5299
        Corporate         Website : www.bankmandiri.co.id
        Secretary         Email : corporate.secretary@bankmandiri.co.id   SItus Web                        1400 - (021) 5299 7777
                                                                          www.bankmandiri.co.id




                           Head Office                                                     Contact
                           Address                                                         ADDRESS


                                                                          Corporate Secretary
        Plaza Mandiri                                                     corporate.secretary@bankmandiri.co.od
        Jl. Jenderal Gatot Subroto Kav. 36-38
        Jakarta 12190 Indonesia                                           Contact Care
        INDONESIA                                                         Email : mandiricare@bankmandiri.co.id
        Tel     : 62-21 5265045
        Fax     : 62-21 5274477, 527557                                   Media Social
                                                                          facebook : https://id/facebook.com/officialbankmandiri/
                                                                          twitter     : @bankmandiri
                                                                          Instagram : @bankmandiri




                                                                                                             ANNUAL REPORT 2023     773
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            MAIN                       MANAGEMENT                     COMPANY                          MANAGEMENT DISCUSSION
            HIGHLIGHTS                 REPORT                         PROFILE                          AND ANALYSIS




      CODE OF CONDUCT




           Bank Mandiri has a code of conduct in place that explains
           the basic principles of personal and professional behavior
           carried out by the Company. The code of conduct applies to
           all Bank Mandiri employees both contractual and permanent
           employees, and applies to all Board of Commissioners and
           Directors. The application of a code of conduct is expected
           to encourage the realization of professional, responsible,
           reasonable, appropriate and trustworthy behaviour in
           conducting business relationships with fellow co-workers and
           work partners.




      The Company instils its core values and builds a strong      The work ethic is an elaboration of the basic principles of
      culture through Code of Conduct as a commitment              personal and professional behaviors that are expected
      to enhancing the integrity of each of its employees in       to be obeyed by Bank Mandiri Personnel. The business
      applying good corporate governance.                          ethics are moral principles related to the behaviors
                                                                   of the individuals, protection of bank properties, and
      The Code of Conduct contains the Company’s                   bank business activities including in its interaction
      commitment to its various stakeholders to uphold business    with stakeholders as the basis for the behavior of the
      ethics and work ethics of the Company’s personnel. The       Bank in conducting its business operations. Those are
      Code of Conduct applies to all personnel of the Company      standard behaviors that have to be implemented in all
      including the Board of Commissioners, Board of Directors,    organizational levels.
      employees and other individuals or Institutions associated
      with the Company’s business, whether in relation to the
      business ethics, work ethics or daily behavior. Every
      employee is required to behave in reflection of the
      Company’s values in realizing its vision and mission.




774   PT Bank Mandiri (Persero) Tbk
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                                                                                                                   CODE OF CONDUCT




 Code of Conduct Basic Principles
 The main points of Bank Mandiri’s code of ethics contain arrangements for work ethics and business ethics. The work
 ethic that regulates Bank Mandiri personnel’s behaviors covers the following aspects:

                              Conflict of interest is a condition in which the Board of the Bank in carrying out its duties and responsibilities have
                              interests beyond the interests of the service, both concerning personal, family or the interests of other parties so that
                              the Board of the Bank of the possible loss of objectivity in making decisions and policies appropriate authority that the
                              Bank has given. Therefore, the entire personnel of the Bank:
                              Shall avoid activities that may cause a conflict of interest and report to the direct supervisor if unable to avoid.
                              1. Shall be prohibited to give consent and or request approval of any loan facilities, as well as special interest rates or
                                  other specificity for:
                                  a. Himself/Herself.
  1    Conflict of interest       b. His family.
                              2. Companies where he and/or his family have an interest
                              3. Shall be prohibited to work for another company, unless it has received a written assignment or permission from
                                  the Bank. Board of Commissioners and Board of Directors that follow regulatory requirements.
                              4. Shall be prohibited to become a direct or indirect partner, either a partner for goods or services for the Bank.
                              5. Shall be prohibited to collect goods belonging to the Bank for personal, family or other outside interests.
                              6. Only allowed to conduct securities transactions, foreign exchange trading, precious metals, derivative transactions
                                  and other goods for their own benefit in the absence of conflict of interest, violation of insider trading rules of the
                                  Capital Market Authority, and other regulations.
                              1. Shall be required to understand and maintain the confidentiality of any information, in accordance with prevailing
                                 regulations
                              2. Shall use the information received only for the banking activities.
                              3. In providing information, must act in accordance with applicable provisions.
                              4. To avoid misuse, the dissemination of customer information in the Bank’s internal environment is done carefully and
                                 only to interested parties.
                              5. Shall be prohibited from disseminating information to outside parties regarding:
  2      Confidentially          a. Bank Activities with the Government of the Republic of Indonesia.
                                 b. Internal policies and Bank work procedures.
                                 c. Management of Information Systems, Data and Reports
                                 d. Employee data, whether active or not
                              6. Bank business activities, including activities with customers and partners.
                              7. Except with the approval of the authorized Bank official or because of orders based on applicable laws and
                                 regulations.
                              8. The obligation to maintain special matters that must be kept confidential, still applies to former Bank employees.
                              1. Shall be prohibited from abusing authority and taking advantage of directly or indirectly, from knowledge
                                  obtained from the Bank’s business activities to:
                                  a. Personal benefits.
                                  b. Benefits for family members.
                                  c. Benefits for other parties.
                              2. Shall be prohibited from requesting or accepting, permitting or agreeing to accept gratuities related to his position
                                  and contrary to his obligations in accordance with applicable laws and regulations.t
                              3. The types of gratuities and reporting mechanisms will be regulated in separate provisions.
                              4. Shall be prohibited from requesting or accepting, permitting or agreeing to receive a gift or reward from a third
                                  party who obtains or seeks to get a job related to the procurement of goods or services from the Bank.
                              5. In the case of customers, partners and other parties giving gifts in the form of goods or in other forms at certain
                                  times such as on holidays, certain celebrations, disasters and others, if:
      Position Abuse and
  3                               a. As a result of receiving the gift it is believed that it has a negative impact and affects the bank’s decision, and
         Gratification
                                  b. The price of the gift is outside the reasonable limit,
                              6. Then, the Bank Officers who receive the gift must immediately return the gift with a polite explanation that the
                                  Bank’s Staff is not permitted to receive gifts. In the case of giving gifts as mentioned in point (d) above for one
                                  reason or another it is difficult to be returned, members of the Bank’s Staff who receive the gift must immediately
                                  report to UPG with a copy to the Head of the Work Unit.
                              7. In the case of customers, partners and other parties providing promotional items, so long as the result of receipt of
                                  the promotional item does not cause a negative impact, it is permissible to accept it.
                              8. In order to procure goods and services from third parties for bank services, must try to get the best price with a
                                  maximum discounted price which is recorded for the Bank’s profit.
                              9. Shall be prohibited from using his position to borrow from a customer or to borrow from a customer.
                              10. Shall be prohibited from taking advantage of the opportunity to use the Bank’s facilities for its own benefit beyond
                                  those provided by the Bank.




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      CODE OF CONDUCT


                                 1. Bank employees who have confidential information are not permitted to use the information to take advantage
                                    of themselves, their families or other third parties.
                                 2. Shall be prohibited from using internal information to make purchases, or trade securities, unless the information is
       4    Insider’s behavior      known to the public.
                                 3. Shall be prohibited from misusing his position and taking advantage of both directly and indirectly for himself and
                                    others who can influence the decision.
                                 4. Decision making to sell or buy Bank assets and other services must be done by prioritizing the interests of the Bank.
                                 1. Shall be obliged to present accurate and accountable data.
                                 2. Not allowed to book and/or change and/or delete books, with a view to obscuring the transaction.
           Bank Data Integrity
       5                         3. It is only permitted to make changes or deletion of data based on the authorization of the competent authority in
             and Accuracy
                                    accordance with procedures established by the Bank.
                                 4. Not allowed to manipulate documents.
                                 1. Must always be introspective and avoid the involvement of the Bank in criminal activities in finance and banking.
             Banking System
       6                         2. Must be suspicious of unusual transactions and must take preventive actions in detecting accounts suspected of
                Integrity
                                    being used for activities such as money laundering, terrorism financing, corruption and other crimes.



      The business ethics as the basis for the behaviour of the Bank’s employees in carrying out business activities, covers the
      following aspects:




                                 1. Personal integrity
                                    a. Upholds morals, has self-esteem and strong discipline.
                                    b. Maintain personal integrity in accordance with applicable rules, regulations, policies and systems.
                                    c. Has a commitment to maintain the Bank’s image and reputation.
                                    d. Rely on all actions and behaviors on pure conscience.
                                    e. Act respectfully and responsibly and free from influences that allow loss of objectivity in carrying out tasks or
                                        cause the Bank to lose its business or reputation.
                                    f. Avoid activities related to an organization and/or individuals that enable conflicts of interest.
       1   Individual behavior
                                    g. Both individually and jointly always strive not to be involved in matters that can weaken or reduce the integrity
                                        of the banking system in Indonesia.
                                 2. Treatment/Actions of Discrimination
                                    a. Uphold human rights.
                                    b. Prevent discrimination in all its forms.
                                    c. Acts of Harassment by Bank Officers must avoid all forms of conduct that violate public order and morality.
                                 3. Acts of harassment
                                 Must avoid all forms of actions that violate public order and morality
                                 1. Bank Property
                                    a. Always maintains and protects all assets owned by the Bank, both tangible and intangible.
                                    b. Using the Bank’s assets only for activities related to the interests of the Bank.
                                    c. Use the Bank’s assets responsibly including the appropriateness of the designation.
                                 2. Confidential Information Protection
            Protection of Bank      a. Protect and prevent valuable and confidential information from loss, misuse, leakage and theft.
       2
                 Property           b. Do not disseminate reports/information about banks that are not intended to be public.
                                 3. Intellectual Property of the Bank
                                    a. Safeguard the Bank’s intellectual property.
                                    b. Dedicate competencies held for the interests of the Bank as intellectual property of the Bank.
                                 4. Note and Reporting
                                    a. Responsible for the accuracy and completeness of the notes and reports presented.




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                                                                                                           CODE OF CONDUCT


                           1. Mis-representation
                              a. Bank staff representing the Bank in dealing with third parties act according to their capacity and authority.
                              b. Bank staff representing the Bank provide correct information, documents and reports in the right way.
                              c. The Bank’s Board of Directors avoids actions that can cause misunderstanding from other parties.
                           2. Relations with Business Partners
                              a. always prioritize the interests of the Bank in dealing with business partners.
                              b. Prevent the occurrence of corruption, collusion and nepotism and negative images in dealing with work
                                  partners.
                              c. In working with partners, the principles of professionalism and justice are based on good faith.
                           3. Behaviour in Competing
       Implementation of      a. Responsible for creating and maintaining healthy competition in conducting business.
  3
         Bank Business        b. Avoid and prevent unfair ways of competing in developing his career.
                           4. Relations with Other Organizations
                              a. can conduct business contacts with other organizations including competitors as long as they provide benefits
                                  to the Bank.
                              b. Avoid all forms of collaboration/improper alliances with other parties.
                           5. Obtain and Use Third Party Information
                              a. avoid obtaining confidential information from third parties/competitors in inappropriate ways.
                              b. Do not recruit competitor employees with the aim of obtaining confidential information from competing
                                  companies.
                           6. Relation to Regulators
                              a. Adhere to the ethical principles and provisions that apply in fostering relationships with Regulators




 Respectful Workplace Policy (RWP) is a policy on a safe
 work environment, respecting and protecting human                       The application of a code of conduct is expected to
 value and dignity, promoting mutual respect, free from                  encourage the realization of professional, responsible,
 discrimination, exclusion or restrictions, bullying and                 reasonable, appropriate and trustworthy behaviour in
 harassment, as well as various other forms of violence                  conducting business relationships with fellow co-workers
 both mental and physical for all levels of the Bank including           and work partners.
 parties related to the Bank.
                                                                         Dissemination of the Code of Conduct
 RWP is structured to create a harmonious, inclusive,                    The code of conduct has been communicated and
 conducive and productive work environment so as to                      socialized to the Board of Commissioners and its supporting
 foster the Bank’s business sustainability and uphold Human              aspects, Directors, officials one level below the Board of
 Rights.                                                                 Directors and all employees, including through:
                                                                         1. Company Website.
 In order to implement RWP principles, all levels of the                 2. Email administrator delivered to all employees of the
 Bank must respect equality and differences (prohibited                      Company.
 from behaving/discriminating), and avoid disrespectful                  3. At the time of the signing of the collective labour
 behavior, including but not limited to behavior that will                   agreement carried out between the union of the
 offend, intimidate, humiliate others, and/or various forms                  Company and the management of the Company.
 of harassment, bullying and other forms of violence that                4. Standing banners, flyers and other advertising media
 have the potential to degrade human value and dignity.                      in the Company’s office area.

 The Head of Work Unit has the role, duty, and responsibility            In addition, the code of conduct can also be accessed
 to realize and maintain a harmonious, inclusive, conducive              at any time by all employees of Bank Mandiri through the
 and productive work environment in their respective work                Bank Mandiri portal called the Knowledge Management
 units                                                                   System (KMS).

 Compliance to Code of Conduct                                           Effort In Implementation and Enforcement
 Bank Mandiri has a code of conduct that explains the                    of the Code of Conduct
 basic principles of personal and professional behavior                  The employees can report alleged violations of the
 carried out by the Company. The code of conduct                         implementation of the code of conduct to superiors
 applies to all Bank Mandiri employees both contractual                  through a whistleblowing system mechanism called a
 and permanent employees, and applies to all Board of                    Letter to CEO (LTC). Any action that has been proven
 Commissioners and Directors.                                            as a violation of the code of conduct will be subject to
                                                                         sanctions in accordance with applicable regulations.




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      CODE OF CONDUCT



      Efforts to implement and enforce the Bank Mandiri code of conduct are carried out with full awareness in the form of
      commitments, attitudes and actions, which include:



      1. Statement of Compliance with the Bank Mandiri Code of Conduct
         Bank Mandiri Personnel are required to read, understand well and are required to sign a “Statement of Compliance
         with the Bank to the Code of Conduct”.

      2. Commitment of Management and Entire Bank Mandiri Employees
         Management’s commitment and entire employees of Bank Mandiri to not receive money and/or items of gratuity
         and/or gifts related to their obligations or duties are published through the mass media and the Company’s website.

      3. Annual Disclosure of Conflict of Interest
         Bank Mandiri personnel are required to make annual disclosures related to conflicts of interest each year, and each
         work unit is required to submit a transaction/decision report containing a conflict of interest every quarter.

      4. Integrity Pact
         The integrity pact is signed by executives with authority and all partners/vendors of Bank Mandiri who are involved
         in the process of lending, procurement of goods and services, and accreditation of partners. In addition, the signing
         of the Annual Integrity Pact is carried out by all Board of Commissioners, Directors, and Executives of Bank Mandiri
         in an effort to implement gratuity control. All Bank Mandiri employees also sign the Integrity Pact for the application
         of gratuities every 1 (one) year.

      5. Awareness Program
         New Bank Mandiri employees will get the Bank Mandiri Code of Conduct induction program called the jump start
         program, as well as continuous and consistent policy socialization.

      Types of Sanctions for Code of Conduct
      The sanctions for Code of Conduct violation are categorized into 3 (three) types, namely minor, medium and serious
      sanctions. Every violation of the Code of Conduct will be subject to sanctions in accordance with the applicable Employee
      Discipline Regulations of Bank Mandiri, including criminal sanctions stipulated in the prevailing laws and regulations.

      Types of Sanctions for Code of Conduct Violation
                  Types of Violations                                                   Sanctions
      Minor Sanctions                       First Written Admonition
                                            Second Written Admonition
      Medium Sanctions                      First Written Warning
                                            Second Written Warning
      Serious Sanctions                     Firm and Final Written Warning Termination/Dismissal of Employment


      Total Violations of Code of Conduct
      In 2023, a total of 326 violations of the code of conduct was recorded with the following details:




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                                                                                              CODE OF CONDUCT



 Sanctions of Code of Conduct Violations
                                      Types of Sanctions                        2023            2022            2021
 First Written Admonition                                                        155             134               112
 Second Written Admonition                                                       54              62                 26
 First Written Warning                                                           55              69                 47
 Second Written Warning                                                          10              19                 29
 Firm and Final Written Warning                                                  10              11                 14
 Termination of Employment                                                       42              41                 50

  Total                                                                          326            336                278


 The number of violations of the code of ethics based on the categories of sanctions provided were as follows:

                            Types of Sanctions                    2023                 2022                  2021
 Minor                                                            209                  196                    138
 Medium                                                            65                   88                    76
 Major                                                             52                   52                    64

  Total                                                           326                  336                   278




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      ANTI-CORRUPTION PROGRAM




            Bank Mandiri strives to implement anti-corruption and anti-bribery
            practices and culture within the Company by instilling the corporate
            core values and establishing several regulations and/or policies
            related to corruption prevention, such as internal control policies,
            Employee Discipline Regulations, Code of Conduct, Business Ethics
            and reflected in the development of Corporate Culture, among
            others, instilling integrity values at all levels of the Bank




      The actions taken by Bank Mandiri to address issues of             In order to eradicate corruption, on 4 November 2014,
      corruption practices, specifically in the Code of Conduct,         the Company declared a commitment to the Corruption
      have been regulated as follows:                                    Eradication Commission to:
      1. Comply with external and internal regulations                   8. Build a National Integrity System with a Work Culture
      2. Prohibit all levels of the Bank from requesting or                  and Prosperity Spirit approach.
         receiving, agreeing to receive a gift or reward from            9. Implement gratuity controls to support efforts to
         a third party that obtains or seeks to obtain facilities            eradicate corruption in the Company.
         from the Company in the form of a “cash loan and
         non-cash loan” facility, or in order to purchase or             As an implementation of the commitment, Bank Mandiri
         discount letters notes, promissory notes, checks and            has done the following:
         trade papers or other proof of liability, or other facilities   1. Established a gratuity Control Unit which is part of the
         related to the Bank’s operations and those related to              Compliance unit as coordinator of gratuity control
         the procurement of goods and services from the Bank.               at Bank Mandiri.
      3. Prohibition to all levels of the Bank in misusing their         2. Issued provisions regarding the gratuity control program
         authority and taking advantage both directly and                   within the Bank Mandiri, which every year or according
         indirectly from the knowledge obtained from the                    to the needs of the Company are continually refined
         Company’s business activities to:                                  in line with the development of the Company and/
      4. Personal advantage                                                 or fulfilment of the laws and regulations and lastly as
      5. Benefits for family members                                        refined in 2023.
      6. Benefits for other parties                                      3. Conduct dissemination of the gratuity control
      7. Providing sanctions from minor to serious for violators            program to all levels of Bank Mandiri employees and
         of the prohibition.                                                stakeholders.




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                                                   GRATIFICATION POLICY




      Bank Mandiri recognizes the importance of gratification control
      in keeping corporate operations functioning in compliance with
      business principles that uphold the value of integrity. Gratification
      control strives to establish Good Corporate Governance values in
      all employees, to ensure daily business interactions with customers,
      vendors, partners, and all stakeholders are always founded on ethics,
      mutual trust, and responsibility. Consequently, business interests can
      continue to operate successfully and ethically while not violating
      the restrictions of the gratuity prohibition


 Bank Mandiri has in place the Operating Technical              9. Sanctions to the violators of the rules in the Anti-Bribery
 Guideline of Gratification Control that regulates the             Management System.
 prohibition on receiving gratuity for all Bank Mandiri
 employees. Currently, Bank Mandiri strives to make             Bank Mandiri has received ISO 37001:2016 Certificate
 continuous improvements in the implementation of its           of Anti-Bribery Management System for the scope of
 gratification controls.                                        Procurement & Vendor Management since 10 August 2020
                                                                and addition of Internal Audit Process scope, thereby it
 Anti-Bribery Management System                                 changed to become Procurement, Vendor Management
 To continuously foster Gratification Control program,          and Internal Audit Process since 20 September 2022
 specifically on anti-bribery that in line with the ISO         The updated ISO 37001:2016 Anti-Bribery Management
 37001:2016 Standard of Anti-Bribery Management System,         System certificate with the scope of Procurement, Vendor
 Bank Mandiri has stipulated the following matters:             Management and Internal Audit Process was obtained
                                                                on 13 October 2023.
 1. Prohibits bribery practices and its kinds in the
    company’s environment;                                      Bank Mandiri has obtained ISO 37001:2016 Anti-Bribery
 2. Compliance with laws and regulations and other              Management System Certificate for the scope of
    prevailing rules related to anti-bribery;                   Procurement & Vendor Management for the first time
 3. Align the anti-bribery policies with the company’s          on August 10, 2020. The updated ISO 37001:2016 Anti-
    objectives;                                                 Bribery Management System certificate was obtained on
 4. Corporate governance that fosters the achievement           October 13, 2023 with the scope of Procurement, Vendor
    of anti-bribery goals;                                      Management and Internal Audit Process.
 5. Commitment to fulfil the requirements of Anti-Bribery
    Management System;                                          Gratification Control Management
 6. Promote the improvement of anti-bribery awareness           The Organization Structure of Gratification Control Unit
    to related stakeholders;                                    (UPG) is managed by the Compliance Unit, namely the
 7. Carry out sustainable improvement principles in the         Compliance & AML-CFT Group. The UPG is established
    Anti-Bribery Management System;                             according to the Board of Directors Decree No. KEP.
 8. Provide responsibility, authority, and independency         DIR/64/2021 dated 8 December 2021, and renewed by
    to Anti-Bribery Compliance Functions;                       the Board of Directors Decree No. KEP.DIR/64/2021 dated
                                                                8 December 2021.



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      GRATIFICATION POLICY




      The UPG functions to control gratuities within Bank Mandiri, which in carrying out their duties are assisted Regional Business
      Control (RBC) – Anti Money. Laundering Officer (AMLO).

      Gratification Reporting Mechanism
      Bank Mandiri has a gratification reporting mechanism that is adjusted to the KPK reporting mechanism, with the following
      charts:

                         Laporan disampaikan langsung ke KPK melalui GO KPK (tembusan ke UPG




                                  Login/Submit

                                  Cek status



                                                                                                                    UPG
             Pelapor

                            Email Notifikasi

                                                                               • Review & Verifikasi
                            Surat Penetapan Gratifikasi                        • Upload Surat Penetapan Gratifikasi


      Socialization of Gratification Policy
      Socialization related to gratification control was carried out continuously to all levels of organization to increase awareness
      where in its implementation the UPG coordinated with RBC-AMLO. The socialization is carried out directly to the Working
      Units at Head Office, Regional Offices, Branch Offices and through regular ODP/SDP/BBMC.

      During 2023, socialization has been carried out to Bank Mandiri employees, third parties (vendor meetings), and
      benchmark visits from Subsidiary Companies online.

      Other media used in disseminating gratification control policies are:
      1. Installation of Gratification Control Posters on email blasts, screen savers, home pages of internal websites of Bank
         Mandiri employees, Mandiri Magazine, Plaza Mandiri elevator hallways and the display of gratification control videos
         in the elevators of Bank Mandiri office buildings, as well as displays of gratification items on the display cabinet of
         gratuities in the south lobby of Plaza Mandiri.
      2. Invite all Bank Mandiri partners/vendors not to provide gratuities related to religious celebrations through the media
         of national newspapers and Bank Mandiri’s social media (Bank Mandiri’s Instagram Story, Twitter, and Facebook),
         as well as Memorandums and Letters to the Board of Commissioners, Directors and Employees of Bank Mandiri at
         the Head Office and Regionals and Subsidiaries.

      Gratification Reports In 2023
      Bank Mandiri employees who accept/reject gratuities must report their receipt/rejection directly to the KPK through
      the GOL application (Online Gratification) with the http://gol.kpk.go.id address or UPG through the Mandiri Online
      Gratification application (GO Mandiri) with the web address of https://ipa.corp.bankmandiri.co.id/GOMandiri/.

      During 2023, the number of reports of acceptance/refusal of gratuities received by the UPG was 68 reports. The reported
      gratuities included bribery, perishable food/goods, and honorarium in official circumstances.




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                                                                                INTERNAL FRAUD




       The implementation of Anti-Fraud at Bank Mandiri is based on
       a strategy of 4 pillars, namely (1) prevention, (2) detection, (3)
       Investigation, Reporting, Sanctions and Legal Processes, and (4)
       Monitoring, Evaluation and Follow-up. Anti-Fraud Strategy is part of
       Bank Mandiri’s fraud control system in order to reduce the potential
       for fraud




 Anti-Fraud Strategy Implementation                                       b. Vulnerability Identifications, such as the application
                                                                             of Risk Management principles where all policies
 Bank Mandiri has implemented the Anti-Fraud Strategy                        and procedures are designed while observing the
 in accordance with POJK No. 39/POJK.03/2019 for the                         internal control as well as GCG and Compliance
 General Bank. As part of the improvement of the Internal                    principles. Employee’s works according to their
 Control Policy, Bank Mandiri continues to improve the                       authority and responsibility is stated in each of
 provisions. This is also carried out on every policy such                   their descriptions, and signed by the employee
 as Standard Operating Procedures (SOP), Technical                           concerned. In addition, the Annual Disclosure was
 Operational Instructions (PTO) and other regulations.                       signed by all employees at the beginning of the
                                                                             year.
 Bank Mandiri’s Anti-Fraud Strategy regulates 4 pillars,                  c. Know Your Employee (KYE) is a principle applied
 which are:                                                                  by the Bank to know each employee well, both
                                                                             in terms of ability and personality. KYE is carried
 1. Pillar 1 (Prevention)                                                    out through the selection of candidates as well
    The responsibility of all levels of the Bank (work units)                as monitoring the character and lifestyle of
    and part of the Fraud Control System to reduce the                       employees.
    potential of fraud. The programs of this pillar include:
    a. Anti-Fraud Awareness, such as socializing the                  2. Pillar 2 (Detect)
         Anti-Fraud Statement, Employee Awareness                        The responsibility of all units as first line, second line, and
         Program, and Customer Awareness Program.                        third line of defense and is part of the fraud control
         Employees are trained, socialized, and made                     system in order to identify and identify fraud in the
         aware of fraud awareness through internal media                 bank business activities. The programs implemented
         channels of the bank that reach all employees,                  by Bank Mandiri in this pillar include:
         as well as being required to take block leave. The              a. Whistleblowing System-Letter to CEO, which has
         Customer Awareness Program is implemented by                         been carried out and managed by an independent
         utilizing social media effectively, periodically, and                party to minimize conflicts of interest and provide
         dynamically.                                                         a sense of security to the whistleblowers.




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      INTERNAL FRAUD




         b. Fraud Detection System, which has been implemented to support bank detection activities, including transactional
            and non-transactional fraud.
         c. Surprise Audit, which is prioritized for business units that are high-risk or prone to fraud.
         d. Surveillance System, which is aimed at monitoring and testing the effectiveness of the internal control system
            (including the fraud control system).

      3. Pillar 3 (Investigation, Reporting, Sanctions and Legal Processes)
         Part of the Fraud Control System in fraud handling via investigations and the results are reported to the President
         Director, Board of Commissioners, and Regulators, including proposals of sanctions and legal processes for the
         perpetrators. To strengthen the function of this Pillar, the authority to carry out investigations and the imposition of
         sanctions has been delegated to each region so as to accelerate case handling process and the recovery.

      4. Pillar 4 (Monitoring, Evaluation and Follow-up)
         Part of the Fraud Control System to monitor the follow-up to the results of investigations and evaluations of fraud
         incidents, to improve on weaknesses and strengthen the Internal Control System to prevent the recurrence of fraud
         due to similar weaknesses. Written reports to the President Director and the Board of Commissioners are carried out
         in an orderly manner to monitor the predetermined follow-up list.

                                                                            Frauds Committed (Internal)
                 Internal Fraud in 1 Year        Members of BOC & BOD         Permanent Employees             Non-Permanent Employees
                                                  2023         2022            2023            2022             2023          2022
      Total Fraud                                        -              -             49              62               39            33
      Resolved                                           -              -             49              62               39            33
      In resolving process internally                    -              -               -                 -             -               -
      Not resolved                                       -              -               -                 -             -               -
      Followed up through legal processes                -              -              1                  -            1                2




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                          PREVENTION OF INSIDER TRADING




      Bank Mandiri has in place the policy on Insider Trading as stated
      in the Architecture Policy and Corporate Secretary Standard
      Guidelines. The Bank’s Architecture Policy has stipulated that “all
      Bank Executives are only permitted to carry out securities transactions,
      foreign exchange trading, precious metals, derivative transactions
      and other goods for their own interests if there is no conflict of interest,
      violation of Insider Trading regulations from the Capital Market
      Authority and other regulations.



Bank Mandiri has in place the policy on Insider Trading as                 to make a purchase or sale of shares.
stated in the Architecture Policy and Corporate Secretary               3. The insiders other than the Board of Directors and
Standard Guidelines. The Bank’s Architecture Policy has                    Board of Commissioners who commit violations as
stipulated that “all Bank Executives are only permitted                    stipulated above and proven to conduct transactions
to carry out securities transactions, foreign exchange                     and/or provide insider information will be subject to
trading, precious metals, derivative transactions and other                disciplinary sanctions as stipulated in the Human
goods for their own interests if there is no conflict of interest,         Resources Guidelines Standard.
violation of Insider Trading regulations from the Capital               4. The Board of Directors and the Board of Commissioners
Market Authority and other regulations.                                    and parties due to their positions, professions/
                                                                           relationships with the Bank that carries out insider
The Corporate Secretary Standard Guidelines stipulates                     trading are accountable in accordance with
the Insider Trading actions as stated in Chapter III No. 5                 prevailing regulations.
letter d, which are:                                                    5. Annual Disclosure/Annual Statement includes a
1. The insiders who have insider information, such as                      prohibition on insider trading. The obligation for the
    information about the Bank’s financial situation,                      Bank’s executive to provide an annual statement
    Bank activity plans and/or other unpublished material                  is regulated in the code of conduct and/or Human
    information which may be expected to influence the                     Resources Guidelines Standard.
    decisions of investors or shareholders, are prohibited
    to buying and/or selling the Bank shares.                           In 2023, there were no insider trading occurred in Bank
2. The insiders who have insider information are prohibited             Mandiri.
    from influencing any party including the Insider’s family




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      WHISTLEBLOWING SYSTEM – LETTER TO
      CEO



            To maintain and improve the reputation of the Bank and in line with
            the second pillar of the Anti-Fraud Strategy (SAF), the detection
            pillar, risk control facilities and systems are needed and carried out
            through the Whistleblowing System (WBS) mechanism. Bank Mandiri
            has provided a reporting facility for complaints of violations called
            Whistleblowing System - Letter to CEO (WBS-LTC). WBS-LTC aims to
            detect acts of fraud or indications of fraud, encourage awareness
            and concern for all employees and improve the company’s
            reputation to stakeholders.


      The management of WBS-LTC reports acceptance and administration is carried out by an independent third party
      to provide a safe-environment that encourages employees and stakeholders to report acts of fraud or indications of
      fraud. The types of fraud reported include fraud, deception, embezzlement of assets, leakage of information, banking
      crimes, corruption crimes, and other actions that can be equated with fraud in accordance with the provisions of laws
      and regulations, as well as actions that categorised as breaches of employee disciplinary regulation of Bank Mandiri.
      In addition to reporting acts of fraud or indications of fraud, WBS-LTC can also be used to report violations of norms and
      ethics as well as violations of respectful workplace policy.

      Development of Whistleblowing System - Letter to CEO (WBS-LTC)
      The development and improvement of WBS-LTC continues to be carried out to continuously improve the effectiveness
      of its implementation. In 2023 improvements have also been made, with the following details:

                 2019                          2020                           2021                          2022                          2023
      •   An identity of the        •   It is allowed not to      •   WBS-LTC management         •   Bank Mandiri's            •   Bank Mandiri has been
          whistleblower is a must       include the identity of       involves independent           cooperation agreement         able to access the KPK
      •   For employees only            the whistleblower             parties                        (PKS) with KPK No. 83 of      Whistleblowing System
      •   Media only through        •   Vendors can report        •   The reporting party            2021, No. Dir.PKS/6/2021      (KWS) application to
          mail, email and SMS       •   Media Reporting plus          comes from internal or         dated 2 March 2021            report Corruption Crimes
      •   WBS-LTC is managed by         WBS-LTC website               external parties               concerning the                (TPK)
          internal parties          •   WBS-LTC reports           •   The whistleblower can          handling of complaints
                                        include fraud reports/        provide full identity or       in an effort to eradicate
                                        indications of fraud          anonymous (identity            criminal acts of
                                    •   WBS-LTC is managed by         is only known to               corruption signed by the
                                        internal parties              independent parties)           Director of Compliance
                                                                  •   Media reporting: SMS/          & Human Resources
                                                                      WA, email, website and     •   Strengthening the
                                                                      mail                           implementation of the
                                                                  •   Broader WBS-LTC                LTC WBS program for
                                                                      reports include fraud/         members of financial
                                                                      indication, non-fraud          conglomerates
                                                                      reports and inputs/
                                                                      ideas for business
                                                                      process improvement




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                                                                 WHISTLEBLOWING SYSTEM – LETTER TO CEO




 Purposes and Objectives of WBS-LTC                                  Protection for Whistleblowers
 The WBS-LTC program as one of the Anti-Fraud Strategy               Protection of Employees who submit reports containing
 (SAF) programs, aims to:                                            information related to disciplinary violations and breaches
 1. Detecting indications or acts of fraud with the reports          of applicable stipulations/regulations, as long as the
    of Bank Mandiri employees or third parties, which                information submitted by the Employee is true, according
    can be submitted by clearly stating their identity               to the facts and does not constitute a false report including
    or anonymous, which can then be carried out an                   no involvement of the whistleblower.
    investigation process or follow-up actions.
 2. Encouraging awareness or concern of all employees to             Types of Violations that can be Reported
    participate in protecting their work units from losses due       Reports that can be submitted through WBS-LTC, among
    to fraud, hence to improve the quality of supervision,           others, are:
    and to elevate the sense of belonging of employees.              1. Fraud, which consists of:
 3. Improving the company’s reputation with stakeholders,               a. Fraud
    particularly in the context of Corporate Governance                 b. Deceptions
    that will improve the company’s image as it has                     c. Embezzlement of Assets
    adequate anti-fraud equipment.                                      d. Leak of Information
                                                                        e. Banking Crimes
 WBS-LTC Management                                                     f. Corruption Crimes
 The management of WBS-LTC engages the independent                      g. Other actions that can be equated with fraud in
 third party, which aims, among others, to:                                  accordance with the laws and regulations, as well
 1. Be Independent and professional.                                         as actions that are categorised as breaches to the
 2. Minimize the risk of conflict of interest.                               employee disciplinary regulation of Bank Mandiri.
 3. Provide a sense of security for the whistleblower.               2. Non-fraud, including violations of external and internal
 4. Increase stakeholder trust in WBS-LTC management.                   rules, including norms and ethics (code of conduct),
 5. The whistleblower can monitor the status of the follow-             with examples such as:
     up to the WBS-LTC report being submitted.                          a. Abuse of authority and/or position.
                                                                        b. Actions that can degrade the reputation and/or
 Reporting Media                                                             good name of the Bank.
 Bank Mandiri has provided reporting media for acts or                  c. Immoral acts inside and outside the Bank.
 indications of fraud and/or non-fraud that can harm the                d. Abuse.
 customers and Bank Mandiri as follows:                                 e. Discrimination, violence and bullying in the
                                                                             workplace.
 Website:                                                               f. Drug use.
 https://bmri-wbsltc.tipoffs.info/                                      g. Engage in prohibited community activities.
                                                                        h. Violations of ethics, include the use of social media.
 Email:
 bmri-wbsltc@tipoffs.info                                            Dissemination of WBS-LTC
                                                                     To increase understanding of WBS-LTC at all levels within the
 Letter:                                                             organization, Bank Mandiri consistently and continuously
 PO BOX 1007 JKS 12007                                               conducts dissemination in various ways, including by
                                                                     presentation of short videos, placement of posters around
 SMS and WA:                                                         the work environment, PC screen savers and e-mail blasts
 0811-900-7777                                                       to Bank Mandiri employees. and the use of print media
                                                                     for WBS-LTC to be more effective going forward.
 Confidentiality of Whistleblowers
 As Bank Mandiri’s commitment to maintaining the
 confidentiality of reporting data, the Bank provides:
 1. Guarantee on the confidentiality of the whistleblower
    identity.
 2. Guarantee for the confidentiality of the contents of
    the report submitted by the whistleblower.




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                HIGHLIGHTS                        REPORT                                           PROFILE                                        AND ANALYSIS




      WHISTLEBLOWING SYSTEM – LETTER TO CEO




      WBS-LTC Reporting Mechanism

                                                                                                                        3a
                             1b                                                                                                                             Customer Care
                                                                                                                              Keluhan Nasabah
                                                                                                                                                             Group (CCG)
                                                             Web Client WBS-LTC
                 1                                       2


                                                                                                           3
                       Website                                                                                                   3b                         Human Capital
                        Email                                                                                                                                Engagement
                      WhatsApp                                                                                                           SDM                 & Outsource
                         SMS                                                                                                                                 Management
                        Surat                                                                                                      4b
                                                                                          Compliance &     4     Secure Email                               Group (HCEOM)
      Pelapor                             Pihak ketiga                                    AML-CFT Group


                                          6                                       5
                                                                                                                         3c
                                                                                                                                   Fraud &                   Senior
                                                                                                                                  Non Fraud             Investigator (SIV)
                                                                                                                         4c
                                                                                                          Nota

                                                                                                                                                        Unit Kerja Tindak
                                                                                                                                                              Lanjut




      Information:
      1. The whistleblower submits a WBS-LTC report through the website, email, Whatsapp & SMS or PO BOX Letter to Third
          Parties.
          a. Third Parties request information, documents or supporting evidence to the Whistleblower if the reporting has
             not met the 4W1H principle.
          b. The whistleblower completes the information.
      2. Third Party delivers WBS-LTC report to Compliance & AML – CFT Group.
      3. Compliance & AML – CFT Group analyzes WBS-LTC reports and forwards them to the relevant Work Units (CCG,
          HCEOM or SIV) according to the classification of report types.
      4. 6 Each Work Unit that follows up on the WBS-LTC report, submits the results of the follow-up to Compliance & AML –
          CFT Group, then submits it to a Third Party to be informed to the Whistleblower.

      WBS-LTC Handling Results
      Reports of violation complaints entered through WBS-LTC media either through the website, e-mail, mailbox or SMS/
      WA were as follows:

                                              Submission Media                                         Report Classifications
                                                                                                                                              Followed Up        Resolved
          Year                                                                                                    Non
                     Letters      Email         Website          SMS/ WA          Call           Fraud                          Others          Reports           Reports
                                                                                                                 Fraud
          2023          9          42              55               60                1           46               43            78               167              167
          2022          1          47              66               23                0           30               55            52               137              137
          2021          2          28              30               17                0           26               29            22               77                77
          2020          4          24              38                9                0           29               22            24               75                75
          2019          4          24              10               10                0           23               8             17               48                48
          2018          0          7               1                 0                0            2               2              4                8                8

      Violation Reports Sanctions/Follow-Ups In 2023
      Every investigated violation report and those proven as violation has received sanction based on the regulation.




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             IMPLEMENTATION OF STATE PROPERTY
                       ASSETS REPORTS (LHKPN)




      Bank Mandiri has a policy regarding the reporting implementation
      of State Property Assets Reports (LHKPN) that regulates the
      Company’s employees who are required to report their assets,
      delivery procedures, LHKPN administrator and work unit, as well as
      sanctions that can be imposed on employees who do not carry
      out their reporting obligations.




 Policy of State Property Assets Reports (LHKPN)                   Manager of LHKPN
 Bank Mandiri has a policy regarding the reporting                 LHKPN reporting manager consists of LHKPN Management
 implementation of State Property Assets Reports                   Coordinator and e-LHKPN Management Administrators
 (LHKPN) based on the Board of Directors Decree No.                with these following details:
 KEP.DIR/037/2022 dated 25 October 2022 concerning                 1. LHKPN Management Coordinator is the Corporate
 State Property Assets Reports (LHKPN) in the Environment              Secretary and Group Head Human Capital Services
 of PT Bank Mandiri (Persero) Tbk. This policy regulates the           with the following scopes of duties:
 Company’s employees who are required to report their                  a. Coordinating with Corruption Eradication
 assets, delivery procedures, LHKPN administrator and                      Commission (KPK) in monitoring, filling, and
 work unit, as well as sanctions that can be imposed on                    submitting LHKPN as well as socializing the
 employees who do not carry out their reporting obligations.               obligations to the LHKPN.
                                                                       b. Coordinating with the Ministry of State-Owned
 Mandatory Report of LHKPN                                                 Enterprises and KPK regarding the management
 Based on the LHKPN Policy above, Mandatory Report of                      and administration of the LHKPN Compulsory
 LHKPN are Structural Officers within Bank Mandiri and is                  Application.
 an Indonesian citizen, namely:                                    2. e-LHKPN Management Administrators is a Corporate
 1. Member of Commissioners Board                                      Secretary Group and Human Capital Services Group
 2. Members of Directors Board                                         with the following scope of duties:
 3. Officials 1 (one) level under the Company’s Directors              a. Managing and updating data required to report
 4. Directors and Board of Commissioners of Subsidiaries/                  LHKPN within Bank Mandiri as well as updating the
     Affiliated Companies, which are consolidated with                     data of mandatory report LHKPN in Bank Mandiri
     the Company.                                                          office environment.
                                                                       b. Managing and monitoring LHKPN reporting
                                                                           obligations within Bank Mandiri.




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            HIGHLIGHTS                 REPORT                            PROFILE                         AND ANALYSIS




      BUYBACK SHARES AND BUYBACK BONDS



      LHKPN Reporting In 2023
      LHKPN reporting until the end of the 2023 period, of the number of mandatory reports of 207 (two hundred and seven)
      people, there are 205 (two hundred five) people or 99.033% who have fulfilled their reporting obligations. The percentage
      of reporting accuracy for officials who report is 100%.




      BUYBACK SHARES AND BUYBACK BONDS

      Based on the resolution of the Annual GMS dated 14 March 2023 as set forth in the Deed No. 12, dated 16 March 2023,
      made before Utiek R. Abdurachman S.H., MLI., M.Kn., the shareholders of Bank Mandiri, among others, approved the
      Bank’s stock split from Rp250 (full value) per share to Rp125 (full value) per share, hence the issued capital becomes
      a total of 93,333,333,332 shares consisting of 1 (one) Series A Dwiwarna share and 93,333,333,331 Series B shares. The
      Series A Dwiwarna shares owned by the Government of the Republic of Indonesia will be retained 1 (one) share and
      the rest will be calculated to add Series B shares owned by the Government of the Republic of Indonesia. The stock
      split will be effective on 6 April 2023.




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                                          FUNDING TO RELATED PARTIES
 The funding to related parties shall not be contrary to the applicable general procedure of funding and shall continue
 to provide reasonable profitability to the Company and such granting shall be subject to the approval of the Board
 of Commissioners.

 With reference to the internal policies of Bank Mandiri, the lending, funding to related parties (individuals or groups,
 including executives, Directors and Commissioners of the Bank) have been fairly exercised on reasonable terms with
 the approval of the Board of Commissioners.

 As a form of supervisory function implementation by the Board of Commissioners on loans, the lending over Rp3 trillion
 individually shall be reported quarterly to the Board of Commissioners. The loans are lending that had been terminated
 within 3 (three) months of the reporting period.

 Information on funding to related parties is presented in the Management Discussion and Analysis chapter of this Annual
 Report.

 Total Funding to Related Parties as of December 2023
                                                                                     Total
   No.                          Funding
                                                            Debtors (person)                  Nominal (Rp billion)
    1.    To Related Parties
          a. To Principal Debtors                                 15                               5,000,835
          b. Individual                                           364                               414,660
          c. Group                                                 4                                278,535
    2.    To Principal Debtors (Borrowers Group)                  20                              325,366,539




                                                       BANK STRATEGIC PLAN

 The Bank’s Strategic Plan, both long and medium term, is described in the Strategy section of the 2023 Chapter of
 Management Analysis and Discussion in this Annual Report.




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            HIGHLIGHTS                 REPORT                         PROFILE                          AND ANALYSIS




      TRANSPARENCY OF FINANCIAL AND
      NON-FINANCIAL CONDITIONS




           Bank Mandiri complies with the obligation of transparency and
           publication of financial and non-financial conditions in accordance
           with prevailing regulations. This is carried out through the information
           disclosure and publications in both print media as well as the Bank’s
           website.




      The following are details of information disclosure and         internal provisions related to governance ranging from
      publications:                                                   the Articles of Association to the Charter of Committees
      1. Monthly Financial Reports to regulators, which are also      published through Bank Mandiri website.
         published through the BI and Bank Mandiri websites.       6. Information on Company Products and Services
      2. Quarterly Financial Reports to regulators, which were        including office network is published through the
         also published through the FSA reporting system,             Annual Report and Bank Mandiri website, so customers,
         the Bank Mandiri website, and newspapers or other            investors and the wider community can easily access
         electronic media.                                            information on Bank Mandiri products and services.
      3. Annual Financial Reports to regulators, which were        7. Information on the Procedure for Submitting
         also published through the FSA reporting system, the         Complaints, Information Security and Tips for Customers
         Bank Mandiri website, and the reporting system for           in using banking services published through Bank
         issuers or public companies.                                 Mandiri website for the implementation of consumer
      4. The Bank Mandiri Annual Report is prepared and               protection provisions.
         presented in accordance with the provisions and           8. Other information that aims to support information
         submitted to regulators, rating agencies, banking            disclosure, financial education and services to the
         development institutions, research institutions/             public.
         institutions and financial magazines and published
         through the Company’s website.
      5. Information on Corporate Governance, which includes
         the Annual Report of Corporate Governance, Visions,
         Missions, Corporate Values, Compositions and Profiles
         of the Board of Commissioners and Directors, as well as




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                 INTEGRATED GOVERNANCE REPORT




       Implementation of Integrated Governance
       Pursuant to OJK Regulation No.18/POJK.03/2014 concerning
       the Implementation of Integrated Governance for the Financial
       Conglomerates, Bank Mandiri as the Main Entity in the financial
       conglomerates with 11 (eleven) Subsidiaries and 1 (one) Sub-
       Subsidiaries, has compiled the Integrated Governance Guidelines
       as a reference for Bank Mandiri and all Financial Service Institutions
       within the Bank Mandiri Financial Conglomerates. Bank Mandiri has
       also updated the governance organs by establishing the Integrated
       Governance Committee, Integrated Compliance Unit, Integrated
       Risk Management Unit and Integrated Internal Audit Unit.


 Self-Assessment Report of Integrated                               5. Duties and responsibilities of the Integrated Internal
 Governance During 1 (One) Fiscal Year                                 Audit Unit.
 Self-assessment of Bank Mandiri and Financial Service              6. Implementation of Integrated Risk Management.
 Institutions within the Bank Mandiri Financial Conglomerates       7. Development and implementation of Integrated
 refers to the OJK Circular No. 15/SEOJK.03/2015 concerning            Governance Guidelines.
 the Implementation of Integrated Governance for
 Financial Conglomerates and refers to sectoral regulations         The Integrated Governance assessment every semester
 of Financial Service Institutions.                                 involves all Directors and Board of Commissioners, Risk
                                                                    Management Unit, Internal Audit Unit, Compliance
 The assessment is carried out on 3 (three) aspects of              Unit and Corporate Secretary and all Financial Service
 governance, namely structure, process and outcome on               Institutions in the Financial Conglomerates.
 the following 7 (seven) Assessment Factors for Integrated
 Governance Implementation:
 1. Implementation of duties and responsibilities of the            The following were results of the Integrated Governance
    Directors of the Main Entity.                                   assessment in 2023:
 2. Implementation of duties and responsibilities of the
    Board of Commissioners of the Main Entity.                      Rating Score
 3. Duties and responsibilities of the Integrated                   In the first semester of 2023, Bank Mandiri conducted
    Governance Committee.                                           a self-assessment on the implementation of Integrated
 4. Duties and responsibilities of the Integrated                   Governance with a score 1.
    Compliance Unit.




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            HIGHLIGHTS                   REPORT                                    PROFILE                                  AND ANALYSIS




      INTEGRATED GOVERNANCE REPORT



               Ratings                                                          Definition of Rating
                   1          The assessment to the Financial Conglomerates in carrying out the Integrated Governance implementation was
             (Very good)      resulted in generally a very good rating. This was reflected in the adequate fulfilment of the Integrated Governance
                              principles practices. In the event of weaknesses in the implementation of Integrated Governance, in general such gaps
                              were not significant and could be resolved with normal actions by the Main Entity and/or Financial Service Institutions.


      In semester II 2023, Bank Mandiri has conducted an Integrated Governance assessment. It obtained the following score:

                Ratings                                                          Definition of Rating
                    1           The Financial Conglomerates are considered to have implemented a generally very good Integrated Governance.
              (Very good)       This is reflected in the very adequate fulfilment of the implementation of Integrated Governance principles. If there
                                are weaknesses in the implementation of Integrated Governance, in general these weaknesses are not significant
                                and can be immediately corrected by the Main Entity and/or Financial Service Institutions.


      The self-assessment of Integrated Governance is carried out by Bank Mandiri by involving all financial institutions in
      the Bank Mandiri Financial Conglomerates. Financial Conglomerates of Bank Mandiri has implemented Integrated
      Governance which is generally good, namely by fulfilling the three aspects of Integrated Governance consisting of
      aspects of structure, process and outcome.

      From the structural aspect, Bank Mandiri has made adjustments to the Membership of the Integrated Governance
      Committee through the Decree of the Board of Directors No.KEP.DIR/18/2023 tanggal 11 April 2023.

      From the process aspect, Bank Mandiri has held 6 (six) Integrated Governance Committee meetings during 2023 where
      the implementation of the meeting has exceeded the provisions, namely at least 1 (one) time every semester. The
      discussion of the committee meeting included the results of self-assessment of Integrated Governance, the work plan
      of the Integrated Unit, Risk Based Bank Rating Consolidation and Integrated Risk Profile

      In terms of outcome, Mandiri Group has participated in the 2022 Corporate Governance Perception Index (CGPI)
      research and ranking program held in 2023 by an Independent Party. 8 (eight) Companies in the Bank Mandiri Financial
      Conglomerates were participated in the CGPI 2023 ranking. In the CGPI assessment, 3 (three) companies, namely PT
      Bank Syariah Indonesia, PT Bank Mantap and PT Mandiri Sekuritas, successfully obtained the title as “Highly Trusted”
      companies and 5 (five) companies, namely PT Mandiri Tunas Finance, PT AXA Mandiri Financial Services, PT Asuransi
      Jiwa Inhealth Indonesia, PT Mandiri Utama Finance dan PT Mandiri Manajemen Investasi, successfully obtained the title
      as “Trusted” companies.

      Structure of Financial Conglomerates
      The financial conglomerates structure of Bank Mandiri consists of Bank Mandiri as the Main Entity, and 10 (ten) Subsidiaries
      and 4 (four) Sub-subsidiaries engaged in various sectors. Bank Mandiri’s financial conglomerate structure is as follows:




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                                                                           INTEGRATED GOVERNANCE REPORT




                                        Multifinance

                                                               51%
                                                                             Insurance


                                                                             80%
                                                               51%



                                                                             51%
          Investment Banking
          & Securities

                                                                                            Islamic Banking
                                     99.99%

                                                                                            51.47%


                                     99.93%




           Remittance

                                        100%


                                                                             Venture Capital
                          Banking
                                                                            99.99%

                                                 51.098%




                                                  100%




 Shareholding Structure of Financial Conglomerates
 As of 31 December 2023, Bank Mandiri’s share ownership structure was as follows:

    PT.                                         Subsidiaries                                    BMRI Shareholding (%)
     1       PT Bank Syariah PT                                                                        51.47%
     2       PT Bank Mandiri Taspen                                                                   51.098%
     3       Bank Mandiri Europe Ltd.                                                                 100.00%
     4       PT Mandiri Tunas Finance                                                                  51.00%
     5       PT Mandiri Utama Finance                                                                  51.00%
     6       PT AXA Mandiri PT Services                                                                51.00%
     7       PT Asuransi Jiwa Inhealth PT                                                              80.00%
     8       PT Mandiri Sekuritas                                                                      99.99%
     9       PT Mandiri Capital PT                                                                     99.99%
     10      Mandiri PT Remittance                                                                    100.00%



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               HIGHLIGHTS                       REPORT                    PROFILE                          AND ANALYSIS




      INTEGRATED GOVERNANCE REPORT


         PT.                                       Sub-Subsidiaries                                BMRI Shareholding (%)
         1       PT Mandiri Manajemen Investasi                                                           99.93%
         2       Mandiri Securities Pte. Ltd.                                                            100.00%
         3       PT Mitra Transaksi PT                                                                    99.99%
         4       PT FitAja Digital Nusantara                                                              60.00%


      Management Structure of Financial Conglomerates
      Pursuant to OJK Regulation No.18/POJK.03/2014 regarding Governance Practices of Financial Conglomerates, the
      management structure of Bank Mandiri Financial Conglomerates is as follows:

      Board of Commissioners and Directors of Bank Mandiri Financial Conglomerates
      The Board of Commissioners and Directors of Bank Mandiri have duties and responsibilities related to Integrated
      Governance as follows:

      Board of Commissioners:
      1. Supervising the implementation of duties and responsibilities, and providing advice to the Bank Mandiri Board of
         Directors as stipulated in the Articles of Association and prevailing laws.
      2. Supervising the implementation of Integrated Governance.

      Board of Directors:
      1. Having full responsibility for the implementation of Bank Mandiri management.
      2. Managing Bank Mandiri in accordance with the authority and responsibility as stipulated in the Articles of Association
         and the prevailing laws and regulations.
      3. Ensuring the application of TKT in financial conglomerates.
      4. Arranging and informing Integrated Governance Guidelines to all Subsidiaries.
      5. Directing, monitoring and evaluating the implementation of Integrated Governance Guidelines.
      6. Following up on the direction/advice of Bank Mandiri Board of Commissioners in order to improve the Integrated
         Governance Guidelines

      Other than Bank Mandiri, the Management Structure in Mandiri Group consists of the Board of Commissioners, the
      Board of Directors and the Sharia Supervisory Board of Subsidiaries. All of those have the responsibility assigned in the
      Integrated Governance Guidelines as follows:

      Board of Commissioners:
      1. Supervising the implementation of governance, duties and responsibilities of the Board of Directors and following
         up on audit results from internal and external parties.
      2. Establishing committees or appointing parties to carry out functions that support the duties and responsibilities of the
         Board of Commissioners at least audit committees/functions, and compliance monitoring committees/functions.
      3. Organizing the Board of Commissioners meetings which at least includes frequency, attendance and decision-
         making procedures.
      4. Developing the Board of Commissioners charter.

      Board of Directors:
      1. Implementing the principles of corporate governance.
      2. Preparing the Corporate Governance Guidelines.
      3. Following up on audit results and recommendations from the Internal Audit Unit, external auditors, and the results
         of supervision from the authorities.
      4. Organizing the Board of Directors meetings.
      5. Developing the charter that at least include the procedures for decision-making and meeting documentation.

      Sharia Supervisory Board:
      1. The Sharia Supervisory Board must carry out its duties and responsibilities in accordance with the principles of
         Governance.
      2. The Sharia Supervisory Board is responsible for providing advice to the Board of Directors and monitoring activities
         in accordance with Sharia Principles.



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                                                                                             INTEGRATED GOVERNANCE REPORT



 3. The implementation of the duties and responsibilities of the Sharia Supervisory Board is adjusted to the prevailing
    laws and regulations in each Subsidiary.
 4. Members of the Sharia Supervisory Board must provide sufficient time to carry out their duties and responsibilities
    optimally.
 5. Developing the Sharia Supervisory Board charter.



 Bank Syariah Indonesia
                                             Board of Commissioners
                                             • President Commissioner/Independent Commissioner: Muliaman D. Hadad
                                             • Vice President Commissioner/Independent
                                             • Commissioner: Adiwarman Azwar Karim
                                             • Commissioner: Suyanto
                                             • Commissioner: Masduki Baidlowi
                                             • Commissioner: Imam Budi Sarjito
                                             • Commissioner: Sutanto
                                             • Commissioner: Abu Rokhman
                                             • Independent Commissioner: Mohamad Nasir
                                             • Independent Commissioner: M. Arief Rosyid Hasan*
                                             • Independent Commissioner: Komaruddin Hidayat

                                             Board of Directors
                                             • President Director: Hery Gunardi
       Company Management
                                             • Vice President Director: Bob Tyasika Ananta
                                             • Director: Ngatari
                                             • Director: Moh. Adib
                                             • Director: Zidan Novari
                                             • Director: Anton Sukarna
                                             • Director: Saladin D. Effendi
                                             • Director: Grandhis
                                             • Director: Tribuana Tunggadewi
                                             • Director: Ade Cahyo Nugroho

                                             Sharia Supervisory Board
                                             • Chairman: Hasanudin
                                             • Member: Oni Sahroni
                                             • Member: Mohamad Hidayat
                                             • Member: Didin Hafidhuddin
  *) Under the Fit & Proper Test with OJK




 Bank Mandiri Taspen

                                             Board of Commissioners
                                             • President Commissioner: Mustaslimah
                                             • Independent Commissioner: Suhajar Diantoro*
                                             • Independent Commissioner: Boedi Armanto
                                             • Independent Commissioner: vacant
                                             • Commissioner: Hendrika Nora Osloi Sinaga
       Company Management
                                             Board of Directors
                                             • President Director: Elmamber Petamu Sinaga
                                             • Director: Widi Nugroho*
                                             • Director: Atta Alva Wanggai
                                             • Director: Maswar Purnama
                                             • Director: Judhi Budi Wirjanto



 Bank Mandiri Europe Limited

                                             Board of Directors
                                             • Independent Non-Executive Director (NED) & Chairman: Dian Triansyah Djani
       Company Management                    • Independent NED: Geoffrey McDonald
                                             • NED: Venda Yuniarti
                                             • Executive Director & Chief Executive: Aries Syamsul Arifien
  *) Under the approval process at the Ministry of SOEs




                                                                                                                            ANNUAL REPORT 2023   797
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              HIGHLIGHTS                             REPORT                                  PROFILE         AND ANALYSIS




      INTEGRATED GOVERNANCE REPORT



      Mandiri Sekuritas
                                                 Board of Commissioners
                                                 • President Commissioner/Independent Commissioner: Hoesen
                                                 • Commissioner: Vacant
                                                 • Commissioner: Arief Ariyana

           Company Management                    Board of Directors
                                                 • President Director: Mohamad Oki Ramadhana
                                                 • Director: Alex Widi Kristono
                                                 • Director: Harold Tjiptadjadja
                                                 • Director: Silva Halim
                                                 • Director: Theodora Vinca Natalie Manik



      Mandiri Capital Indonesia

                                                 Board of Commissioners
                                                 • President Commissioner: Daniel Setiawan Subianto
                                                 • Independent Commissioner: Alamanda Shantika Santoso
           Company Management
                                                 Board of Directors
                                                 • President Director: Vacant
                                                 • Director: I Made Putera Pratistha
                                                 • Director: Fasial Rino Bernando


      Mandiri Tunas Finance
                                                 Board of Commissioners
                                                 • President Commissioner: Rico Adisurja Setiawan
                                                 • Commissioner: Totok Priyambodo
                                                 • Independent Commissioner: Fendy Eventius Mugni**
           Company Management
                                                 Board of Directors
                                                 • President Director: Pinohadi G. Sumardi
                                                 • Director: R. Eryawan Nurhariadi
                                                 • Director: William Francis Indra


      Mandiri Utama Finance

                                                      Board of Commissioners
                                                      • President Commissioner: Ignatius Susatyo Wijoyo*
                                                      • Commissioner: Erida
                                                      • Independent Commissioner: Kusman Yandi

                                                      Board of Directors
              Company Management                      • President Director: Stanley Setia Atmadja
                                                      • Director: Rita Mustika
                                                      • Director: Rully Setiawan

                                                      Sharia Supervisory Board:
                                                      • Chairman: Abdul Gofarrozin
                                                      • Member: M. Ziyad Ulhaq
       *Resignation letter submitted on October 20th, 2023




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GOVERNANCE             & PRACTICES                         RESPONSIBILITY                STATEMENTS 2023




                                                                        INTEGRATED GOVERNANCE REPORT



 Mandiri International Remittance

                               Board of Directors
                               • President Director: Fitri Wahyu A
      Company Management       • Operation Director: Mohd Fodli Hamzah
                               • Non-Executive Director: Rolland Setiawan
                               • Non-Executive Director: Boniangga Anugrah


 AXA Mandiri Financial Services
                               Board of Commissioners
                               • President Commissioner: Trilaksito Singgih Hudanendra
                               • Commissioner: Sally Joy O’Hara
                               • Independent Commissioner: Agus Retmono
                               • Independent Commissioner: Choky Leonard Tobing

                               Board of Directors
      Company Management       • President Director: Handojo Gunawan Kusuma
                               • Compliance Director: Rudy Kamdani
                               • Director: Rudi Nugraha
                               • Director: Uke Giri Utama
                               • Director: Aayush Poddar

                               Sharia Supervisory Board
                               • Chairman: Zainut Tauhid Sa’adi


 Asuransi Jiwa Inhealth Indonesia

                            Board of Commissioners
                            • President Commissioner: Mochamad Rizaldi
                            • Independent Commissioner: Fathema Djan Rachmat
                            • Independent Commissioner: Prastuti Soewondo
                            • Commissioner: Hernando Wahyono
     Company Management
                            Board of Directors
                            • President Director: Budi Tua Arifin Tampubolon
                            • Director: Rahmat Syukri
                            • Director: Bugi Riagandhy
                            • Director: Jenni Wihartini
                            • Director: Marihot Halomoan Tambunan


 Mandiri Manajemen Investasi

                            Board of Commissioners
                            • President Commissioner: Mochamad Rizaldi
                            • Independent Commissioner: Fathema Djan
                            • Independent Commissioner: Prastoeti Soewondo
                            • Commissioner: Hernando
     Company Management
                            Board of Directors
                            • President Director: Budi Tua Arifin Tampubolon
                            • Director: Bugi Riagandy
                            • Director: Jenni Wihartini
                            • Director: Rahmat Syukri
                            • Director: Marihot Halomoan Tambunan




                                                                                          ANNUAL REPORT 2023   799
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            HIGHLIGHTS                    REPORT                           PROFILE                            AND ANALYSIS




      INTEGRATED GOVERNANCE REPORT



      Integrated Governance Committee                                   4. Review and evaluate the Implementation of the
      Bank Mandiri has established the Integrated Governance               Compliance Function of the Subsidiaries including
      Committee consisting of Independent Commissioners                    the Reports on the Compliance Risk Profile of the
      of Bank Mandiri (as the Main Entity) and Independent                 Subsidiaries through the Integrated Risk Management
      Commissioners representing each industry in the                      Forum (IRMF).
      Financial Conglomerates of Bank Mandiri. The Integrated           5. Discussion forum with Financial Conglomerates to
      Governance Committee has at least the following duties               discuss forward looking and mitigation of compliance
      and responsibilities:                                                issues that occur in Subsidiaries.
                                                                        6. The inclusion of a reporting framework for managing the
      1. Supervise the implementation of Governance in                     compliance function in the Financial Conglomerates
         each financial institution in the Bank Mandiri Financial          in Bank Mandiri’s internal provisions to strengthen
         Conglomerates in accordance with the Integrated                   the synergy of integrated compliance function
         Governance Guidelines.                                            management.
      2. Supervise the implementation of the duties and                 7. Submission of a resume of new regulations to the
         responsibilities of the Board of Directors of Bank Mandiri,       Financial Conglomerates and monitoring the fulfilment
         as well as provide direction or advice to the Board of            of obligations in the new regulations that have a
         Directors of Bank Mandiri on the implementation of the            significant impact and have major sanctions.
         Integrated Governance Guidelines.
      3. Evaluate the implementation of Integrated Governance           Integrated Internal Audit Unit
         at least through an assessment of the adequacy of
         internal controls and the implementation of compliance         The Main Entity has designed the Internal Audit as the
         functions in an integrated manner.                             Integrated Internal Audit Unit that is independent from
      4. Provide recommendations to the Board of                        the operating unit. The Integrated Internal Audit Unit, in
         Commissioners of Bank Mandiri, regarding:                      this case Internal Audit, also collaborated with the 1st line
         a. The results of the evaluation of the implementation         and 2nd line of Bank Mandiri and the Internal Audit of
             of Integrated Governance;                                  Subsidiaries to ensure effective implementation of internal
         b. Improvement of Integrated Governance Guidelines.            control function in Mandiri Group.

      Integrated Compliance Unit                                        The Integrated Internal Audit Unit has the duties and
      In line with the implementation of POJK No. 18/                   responsibilities set out in the Integrated Governance
      POJK.03/2014, Bank Mandiri has established a Compliance           Guidelines as follows:
      & AML-CFT Group as Compliance Unit which oversees                 1. Conducting an audit of the Subsidiary either
      the implementation of compliance function at Mandiri                 individually, jointly or based on reports from the
      Group. The duties and responsibilities of Compliance Unit            Subsidiary’s Internal Audit Unit.
      are as follows:                                                   2. Monitoring the implementation of Internal audits at
      1. Monitoring and evaluating the implementation of                   each Subsidiary Company by conducting:
          compliance function in all Financial Service Institutions        a. Evaluation of the Subsidiary’s audit plan in order
          of Financial Conglomerates.                                          to align with the integrated audit plan.
      2. Preparing the integrated compliance report to the                 b. Evaluation of internal and external audits results
          Director in charge of the Compliance Function and                    of Subsidiaries and follow-ups to prepare an
          the annual report of Integrated Governance.                          integrated internal audit report.
      3. Organizing forums with Financial Service Institutions of
          Financial Conglomerates regarding the implementation          In 2023, the Integrated Internal Audit Unit of Bank Mandiri
          of the integrated compliance function.                        ensured the implementation of internal control functions
                                                                        in Subsidiaries by:
      During 2023, the Compliance Unit of Bank Mandiri has              1. Conducting an audit of 6 (six) Subsidiaries.
      carried out several initiatives on Integrated Governance          2. Evaluating and aligning the audit plan with the
      implementation, as follows:                                           Subsidiaries prior to preparing the Annual Audit Plan
      1. Alignment of compliance policies and compliance                    (AAP) of Bank Mandiri and Subsidiaries.
         risk management mechanisms.                                    3. Reviewing the Subsidiaries’ Internal Audit Unit’s Audit
      2. Submission of a letter to all Financial Service Institutions       Report and its follow-ups on a quarterly basis.
         in the Financial Conglomerates to prepare a Quarterly          4. Preparing the Integrated Internal Audit Function
         Integrated Compliance Implementation Report (LPKT).                Implementation Report.
      3. On a quarterly basis, receive a Report on the
         Implementation of the Integrated Compliance
         Function (LPKT).

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GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                          STATEMENTS 2023




                                                                           INTEGRATED GOVERNANCE REPORT



 In addition, the Integrated Internal Audit Unit of Bank             8. Providing input to the integrated risk management
 Mandiri also carried out the following to improve the                  committee, in order to organizing and improving
 functions of Integrated Internal Audit Unit, as follows:               integrated risk management policies.
 1. Placement of the Head of Integrated Internal Audit               9. Arranging and submitting an integrated risk profile
     Unit in most of the Subsidiaries by taking into account            report periodically to the Directors in charge of the
     the Integrated Internal Audit Unit recommendations.                integrated risk management function and to the
 2. Internal audit capabilities improvement forum for the               integrated risk management committee.
     Integrated Internal Audit Unit and Subsidiaries’ Internal
     Audit Unit through trainings, workshops, benchmarking,          In 2023, the Integrated Risk Management Unit has carried
     attachment, and auditors of Internal Audit Unit PA are          out several initiatives in implementing consolidated/
     invited as guest auditors in several audit assignments          integrated risk management, among others:
     of the Holding Internal Audit Unit.                             1. Implementation of regular Stress Testing of Mandiri
 3. Internal Audit Charter PA alignment forum.                           Group every Semester
 4. Organizing the Integrated Internal Audit Unit of Mandiri         2. Alignment and assistance in the preparation of the
     Group forum periodically.                                           Risk Appetite Statement of Subsidiaries
                                                                     3. Operational Risk Loss Alignment
 Integrated Risk Management Unit                                     4. Review of the Interest Rate Risk in the Banking Book
                                                                         (IRRBB) calculation model in Banking and Multifinance
 Bank Mandiri sets the Integrated Risk Management Unit                   Subsidiaries.
 coordinated by the Credit Portfolio Risk Group, which is            5. Assistance in Liquidity Stress Testing methodology.
 independent of other operating units and has adequate               6. Integrated Risk Management Forum (IRMF) quarterly.
 policies, procedures and risk limits. The Integrated Risk
 Management Unit has the duties and responsibilities                 Intragroup Transaction Policy
 contained in the Integrated Governance Guidelines,
 as follows:                                                         The development of Bank Mandiri and its subsidiaries
                                                                     aggressively in various business segments, making Banks
 1. Providing input to the Board of Directors of Bank                and its Subsidiaries synergize and collaborate in one
    Mandiri, among others, in the preparation of integrated          business ecosystem. This raises the exposure of intragroup
    risk management policies, as well as the improvement             transactions within the Mandiri Group. The Bank always
    or refinement of integrated risk management policies             keeps the Intragroup Transactions in accordance with
    based on the results of implementation evaluation.               external and internal rules both in terms of exposure and
 2. Monitoring the implementation of integrated                      process.
    risk management policies including developing
    procedures and tools for risk identification,                    All intragroup transaction processes and cooperation
    measurement, monitoring and control.                             established within the Mandiri Group are carried out in
 3. Monitoring risks in financial conglomerates based on             accordance with applicable internal rules, including the
    the results of the assessment:                                   Risk Management Policy (KMNR), Standard Procedure for
    a. Risk profile of each Subsidiary in the Financial              Implementing Risk Based Bank Ratings (RBBR), Technical
         Conglomerates;                                              Instructions for Operations for Risk-Based Bank Rating
    b. Integrated risk level of each risk;                           Assessments (RBBR) and guided by the Mandiri Subsidiary
    c. Integrated risk profile.                                      Management Principles Guideline, a guide for Mandiri
 4. Managing stress testing.                                         Group in building a business collaboration ecosystem. The
 5. Carrying out periodic reviews to ensure:                         policy on intragroup transaction risk at Bank Mandiri refers
    a. The accuracy of the risk assessment methodology;              to POJK No.17/POJK.03/2014 dated 18 November 2014 on
    b. Adequacy of implementation of management                      the Implementation of Integrated Risk Management for
         information systems;                                        Financial Conglomerates and SEOJK No.14/ SEOJK.03/2015
    c. Integrated accuracy of policies, procedures and               dated 25 May 2015 on the Implementation of Integrated
         risk limits.                                                Risk Management for Financial Conglomerates.
 6. Reviewing strategic proposed new business lines that
    can be significantly influential on the risk exposure of         The Bank constantly monitors business performance and
    financial conglomerates.                                         risks arising from the business synergy of the Bank and
 7. Providing information to the integrated risk                     Subsidiaries. In this case, the Bank always ensures that
    management committee on matters that need to be                  Intragroup Transactions within the Mandiri Group are
    followed up regarding the results of the evaluation on           always in accordance with the rules and limits set by the
    the implementation of integrated risk management.                Regulator.



                                                                                                          ANNUAL REPORT 2023        801
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            HIGHLIGHTS                   REPORT                            PROFILE                           AND ANALYSIS




      INTEGRATED GOVERNANCE REPORT




      Mandiri Subsidiaries Management Principle Guideline (MSMPG) Mandiri Subsidiaries Management Principles Guideline
      (MSMPG) is a guideline for Bank Mandiri and Subsidiaries in building an ecosystem of business collaboration through
      a culture of performance. It aims to create additional value for Bank Mandiri and its subsidiaries on an ongoing basis,
      by adhering to the principles of GCG and the Articles of Association of each of the Subsidiaries.

      The principles of managing Bank Mandiri subsidiaries are in accordance with the provisions of MSMPG covering
      Integrated Governance activities, Financial Reports, Anti Money Laundering, and Prevention of Terrorism Funding
      (APU-PPT), Human Resources, Procurement, Synergy of Subsidiary Business, Strategy & Performance, Corporate Culture
      Values, Information Technology Cooperation, Data Management, Corporate Sustainability Principles, Controllers of
      Gratification and Investment Management.

      MSMPG is implemented by referring to the basic principles of managing Subsidiaries as follows:
      Subsidiaries are separated entities from Bank Mandiri.
      Management of subsidiaries is carried out professionally and does not intervene in the operational activities of subsidiaries.

      Management of Subsidiary Companies is carried out without disregarding the duties and responsibilities of the Board
      of Directors and Board of Commissioners of the Subsidiaries in accordance with the Articles of Association.
      The management of Subsidiary Companies is aimed at optimizing sustainable profits, reducing risks, fulfilling regulatory
      requirements, and good governance.




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GOVERNANCE                    & PRACTICES                              RESPONSIBILITY                                   STATEMENTS 2023




                              BAD CORPORATE GOVERNANCE
                                              PRACTICES

 The occurrence of bad corporate governance practices in a company will disrupt the Good Governance (GCG) system
 that has been built by the company. By realizing this, Bank Mandiri does not take any actions and policies related to
 these practices as shown in the table. as follows:

   No                                                         Remarks                                                            Practices
   1    There are reports of company activities that pollute the environment                                                       None
   2    Non-compliance in fulfilling tax obligations                                                                               None
   3    The inconsistency in the presentation of annual reports and financial reports with applicable regulations and              None
        financial accounting standards (SAK)
   4    Not submitting legal cases/litigation related to labour and employees                                                      None
   5    Did not disclose the operating segment review                                                                              None
   6    Discrepancies in the Annual Report file between hardcopy and softcopy on the website                                       None
   7    Do not disclose important cases currently being faced by the company, subsidiaries, members of the Board of                None
        Directors/Board of Commissioners who are currently serving in the Annual Report




                        STATEMENT OF GOOD CORPORATE
                          GOVERNANCE IMPLEMENTATION
 All members of the Board of Commissioners, Directors and Employees of Bank Mandiri are always committed and
 applied the principles of good corporate governance and there are no material violations to the prevailing laws and
 regulations. In addition, Bank Mandiri has implemented governance in accordance with ASEAN Corporate Governance
 Scorecard (ACGS). The principles that have not been implemented by Bank Mandiri have been explained on the Bank
 Mandiri website.




                                                                                                                         ANNUAL REPORT 2023   803
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            HIGHLIGHTS                    Report                            Profile                           AND ANALYSIS




      RISK MANAGEMENT



            Bank Mandiri implements the latest risk management that integrates the Bank’s
            business risk mitigation with proactive environmental and social risk mitigation in
            order to achieve balanced financial and operational growth with performance
            achievements in environmental and social aspects as a form of commitment in
            carrying out good corporate governance practices by making sustainability
            achievement a long-term goal. The Bank then determines the best risk-adjusted
            return level based on the specified risk appetite.




      RISK MANAGEMENT LEGAL REFERENCES                                  rising food prices. The Bank undertakes internal stress
                                                                        testing regularly to measure the impact of worsening
      The Bank’s risk management is governed by a bank risk             economic, environmental, and social factors that are
      management policy developed in compliance with Bank               now increasingly integrated, while also preparing relevant
      Indonesia regulations (PBI), Financial Services Authority         mitigations for any potential risks that occur.
      Regulations (POJK), Basel regulations, the application of
      IFRS S2 Climate Related Disclosure, and other international       Bank Mandiri has internally conducted periodic stress
      best practices. This policy is reviewed regularly to anticipate   testing, both individually and integrated with subsidiaries,
      changes in business conditions, regulations, internal Bank        as a measure to anticipate the decline in macroeconomic
      conditions, and social and environmental impacts.                 stability, the deterioration of the impact of climate change,
                                                                        and the accompanying social conditions, based on
      Throughout 2023, the global economic recovery process             macroeconomic scenarios prepared by the Office of Chief
      following the pandemic remain marked by various                   Economist, as well as considering scenarios of increasing
      uncertainties due to the protracted Russia-Ukraine war,           climate change risks and social conditions submitted by
      escalating conflicts in the Middle East, supply chain             internal parties. In addition to internal stress testing, Bank
      disruptions, and intensified symptoms of global-scale             Mandiri also participates in regulatory Bottom-up Stress
      climate change, which lead to high inflation. The increase        Testing on a regular basis, as well as ad hoc stress testing
      in benchmark rates imposed by advanced countries to               such as Basel Committee on Banking Supervision (BCBS)
      curb inflation resulted in capital outflows from Emerging         Risk & Vulnerability Group stress testing, which aims to
      Markets (EMs) and a prolonged weakening of global                 obtain the Bank’s assessment of regional banking resilience
      economic growth.                                                  on potential challenges arising after pandemic recovery
                                                                        and hampered economic growth due to the ongoing
      These factors raise the risks that the Bank must address,         factors triggering uncertainty mentioned above.
      such as the potential increase in NPLs, Rupiah depreciation
      against foreign exchange exposure, weakening Net
      Interest Income, falling securities portfolio valuation,
      liquidity adequacy, reduced capital resilience, coupled
      with increased investment risk exposure due to stronger
      climate change sentiment, and rising social risks due to




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 CORPORATE                 ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                          RESPONSIBILITY                          Statements 2023




                                                                                                  RISK MANAGEMENT



 Bank Mandiri has updated its Recovery Plan and Recovery            6. OJK Regulation No. 17/POJK.03/2014 dated 18
 Options to prevent, recover or improve the Bank’s                      November 2014 concerning the Implementation
 financial condition and business continuity in the event               of Integrated Risk Management for Financial
 of financial stress, as stipulated in OJK Regulation No.14/            Conglomerates.
 POJK.03/2017 concerning Recovery Plan for Systemic                 7. OJK Regulation No. 18/POJK.03/2014 dated 18
 Banks. The Recovery Plan prepared includes an analysis                 November 2014 concerning the Implementation of
 of the condition of all business lines of the Bank and                 Integrated Governance for Financial Conglomerates.
 its Subsidiaries, including scenarios of crisis condition          8. OJK Regulation No. 26/POJK.03/2015 dated 11
 analysis (reverse stress testing) that can occur at the Bank           December 2015 concerning the Obligation to
 idiosyncratically, market-wide shock, as well as the impact            Provide Integrated Minimum Capital for Financial
 of climate change and social shock that can endanger                   Conglomerates.
 the Bank’s business continuity (point of non-viability).           9. OJK Regulation No. 42/POJK.03/2015 dated 23
                                                                        December 2015 concerning the Obligation to Fulfil
 In 2023, Bank Mandiri resubmitted the Resolution Plan                  the Liquidity Coverage Ratio for Commercial Banks.
 document to the Deposit Insurance Corporation,                     10. OJK Regulation No. 11/POJK.03/2016 dated 2 February
 Indonesia’s resolution authority. The Resolution Plan is a             2016 concerning the Obligation to Provide Minimum
 document that contains the Bank’s information that is                  Capital for Commercial Banks, which is refined by
 in line with the Action Plan, as well as an analysis of the            OJK Regulation No. 34/POJK.03/2016 concerning
 resolution strategy as one of the factors considered by the            Amendments to POJK No. 11/POJK.03/2016
 Deposit Insurance Corporation when handling or settling                concerning the Obligation to Provide Minimum Capital
 a failed bank. The Bank is committed to updating the                   for Commercial Banks.
 Resolution Plan document and submitting the updated                11. OJK Regulation No. 38/POJK.03/2017 dated 12 July
 results to the resolution authority every 2 (two) years. LPS           2017 concerning the Implementation of Consolidated
 Regulation No. 1 of 2021 regarding Resolution Plans for                Risk Management for Banks that Control Subsidiaries.
 Commercial Banks governs the obligation to prepare                 12. OJK Regulation No. 50/POJK.03/2017 dated 17 July
 a Resolution Plan for Systemic Banks and Non-Systemic                  2017 concerning the Obligation to Fulfill the Net Stable
 Banks appointed by the resolution authority.                           Funding Ratio for Commercial Banks.
                                                                    13. OJK Regulation No. 14/POJK.03/2017 dated 7 April
 In the implementation of risk management, Bank Mandiri                 2017 concerning Recovery Plan for Systemic Banks.
 strives to comply with and adheres to the prevailing laws          14. OJK Regulation No. 21 of 2023 on Commercial Banks
 and regulations in Indonesia such as:                                  Digital Services.
 1. Law No. 4 year 2023 on Financial Sector Development             15. OJK Regulation No. 38/POJK.03/2019 of 2019 on
      and Strengthening.                                                Amendments to OJK Regulation No. 32/POJK.03/2018
 2. Regulation of the Minister of State-Owned Enterprise                concerning the Maximum Limit for Lending and Large
      concerning Guidelines for Governance and Significant              Exposures for Commercial Banks.
      Corporate Activities of State-Owned Enterprises.              16. OJK Regulation No. 11/ POJK.03/ 2019 dated 28 March
 3. OJK Regulation No. 17 of 2023 dated 14 September                    2019 concerning the Principle of Prudence in Asset
      2023 concerning the Implementation of Governance                  Securitization Activities for Commercial Banks.
      for Commercial Banks.                                         17. OJK Regulation No. 31/POJK.03/2019 dated 2
 4. Financial Services Authority Regulation (OJK                        December 2019 concerning the Obligation to Fulfill
      Regulation) No. 4/POJK.03/2016 dated 26 January                   Gearing Ratio for Commercial Banks.
      2016 concerning Assessment of Soundness Rating of             18. OJK Regulation No. 11/ POJK.03/ 2019 dated 28 March
      Commercial Banks.                                                 2019 concerning the Principle of Prudence in Asset
 5. OJK Regulation No. 18/POJK.03/2016 dated 16                         Securitization Activities for Commercial Banks.
      March 2016 concerning the Implementation of Risk              19. OJK Regulation No. 37/POJK.03/2019 dated 19
      Management for Commercial Banks.                                  December 2019 concerning Transparency and
                                                                        Publication of Bank Statements.




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      RISK MANAGEMENT




      20. OJK Regulation No. 27/POJK.03/2022 dated 28             30. OJK Circular No. 24/SEOJK.03/2021 of 2021 on
          December 2022 concerning the Second Amendment               Calculation of Risk-Weighted Assets for Credit Risk
          to OJK Regulation No. 11/POJK.03/2016 concerning            Using a Standardized Approach for Commercial Banks.
          Minimum Capital Adequacy Requirement for                31. OJK Circular No. 13/SEOJK.03/2017 dated 17 March
          Commercial Banks.                                           2017 concerning the Implementation of Governance
      21. Bank Indonesia Regulation No. 23/17/PBI/2021 dated          for Commercial Banks.
          17 December 2021 concerning the Third Amendment         32. OJK Circular No. 14/SEOJK.03/2017 dated 17 March
          to Bank Indonesia Regulation No. 20/4/PBI/2018              2017 concerning Assessment of Soundness Rating of
          concerning Macroprudential Intermediation Ratio             Commercial Banks.
          and Macroprudential Liquidity Buffer for Conventional   33. OJK Circular No. 43/SEOJK.03/2017 dated 19 July 2017
          Commercial Banks, Sharia Commercial Banks, and              concerning The Principle of Prudence and Reports in
          Sharia Business Units.                                      Implementing Consolidated Risk Management for
      22. Bank Indonesia Regulation No. 24/16/PBI/2022 dated          Banks that Control Subsidiaries.
          31 October 2022 concerning the Fourth Amendment         34. OJK Circular No. 48/SEOJK.03/2017 dated 15
          to Bank Indonesia Regulation No. 20/4/PBI/2018              September 2017 concerning Guidelines for Calculating
          concerning Macroprudential Intermediation Ratio             Net Bills for Derivative Transactions Calculation of Risk-
          and Macroprudential Liquidity Buffer for Conventional       Weighted Assets for Credit Risk Using a Standardized
          Commercial Banks, Sharia Commercial Banks, and              Approach.
          Sharia Business Units.                                  35. OJK Circular No. 24/SEOJK.03/2021 of 2021 on
      23. Bank Indonesia Circular No. 9/31/DPNP dated 12              Calculation of Risk-Weighted Assets for Credit Risk
          December 2007 concerning Guidelines for the Use             Using a Standardized Approach for Commercial Banks.
          of Internal Capital in the Calculation of Capital       36. OJK Circular No. 12/SEOJK.03/2018 dated 21 August
          Adequacy Ratio of Commercial Banks by Taking into           2018 concerning the Application of Risk Management
          Account Market Risks.                                       and Risk Measurement of a Standardized Approach
      24. OJK Circular No. 14/SEOJK.03/2015 dated 25 May 2015         to Interest Rate Risk In Banking Book for Commercial
          concerning the Implementation of Integrated Risk            Banks.
          Management for Financial Conglomerates.                 37. OJK Circular No. 6/SEOJK.03/2020 dated 29 April 2020
      25. OJK Regulation No. 14/POJK.03/2017 dated 7 April            concerning Calculation of Risk-Weighted Assets for
          2017 concerning Recovery Plan for Systemic Banks.           Operational Risk using a Standardized Approach for
      26. OJK Circular No. 15/SEOJK.03/2015 dated 25 May              Commercial Banks.
          2015 concerning the Implementation of Integrated        38. OJK Circular No. 24/SEOJK.03/2021 dated 7 Oktober
          Governance for Financial Conglomerates.                     2021 concerning Guidelines for Calculating Risk-
      27. OJK Circular No. 34/SEOJK.03/2016 dated 1 September         Weighted Assets for Credit Risk Using a Standardized
          2016 concerning the Application of Risk Management          Approach for Commercial Banks.
          for Commercial Banks.                                   39. Bank Indonesia Circular No. 9/31/DPNP dated 12
      28. OJK Circular No. 23/SEOJK.03/2022 of 2022 on                December 2007 concerning Guidelines for the Use
          Calculation of Weighted Assets according to Market          of Internal Capital in the Calculation of Capital
          Risk for Commercial Banks.                                  Adequacy Ratio of Commercial Banks by Taking into
      29. OJK Circular No. 24/SEOJK.03/2016 dated 14 July 2016        Account Market Risks
          concerning Calculation of Risk-Weighted Assets for      40. Deposit Insurance Corporation Regulation No. 1 of
          Operational Risk Using a Basic Indicator Approach.          2021 dated 30 March 2021 concerning Resolution
                                                                      Plans for Commercial Banks.




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 CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                           RESPONSIBILITY                            Statements 2023




                            BANK RISK MANAGEMENT POLICY




 Bank risk management is governed by a risk management               Risk Management Process
 policy developed in compliance with the Bank Indonesia              The Company’s Risk Management process as stipulated
 Regulations (PBI), the Financial Services Authority                 in the Risk Management Policy is as follows:
 Regulations (POJK), Basel regulations, and international            1. Risk Management is carried out at all levels of the Bank
 best practices. This policy is evaluated regularly to                   up to the operational level both transactionally and
 anticipate changes in the Bank’s business conditions,                   at the portfolio level.
 regulations, and internal conditions. The Bank has a Risk           2. Risk Management is carried out individually and
 Management Policy (KMNR) that defines the fundamentals                  consolidated/integrated with the Subsidiaries while
 of risk management and serves as the principal guideline                taking into account the regulations and business
 and highest regulation in the area of risk management                   characteristics of the Subsidiaries.
 at Bank Mandiri. KMNR is a resource for risk management             3. The Risk Management process is a dynamic process,
 procedures and guidelines in accordance with prevailing                 and is routinely compared to industry best practices
 regulations.                                                            and applicable regulations to be adjusted and
                                                                         updated where necessary.
 Risk Management Principles                                          4. The implementation of Risk Management is carried
 Bank Mandiri’s Risk Management Principles are as follows:               out in a series consisting of:
 1. Capital                                                              a. Risk identification
    Bank Mandiri provides capital according to the                           Risk identification aims to determine the types of
    risks appetite and maintains the capital level in                        risks inherent in each functional activity that have
    accordance with prevailing regulations.                                  the potential to harm the Bank.
 2. 2. Transparency                                                      b. Risk measurement
    Bank Mandiri transparently conveys relevant                              Risk measurement aims to determine the risk
    information in the risk-taking process and the risk-taking               exposure inherent in the Bank’s activities to be
    process itself.                                                          compared with the Bank’s risk appetite, hence
 3. 3. Independence                                                          the Bank can take risk mitigation measures and
    The management of Bank Mandiri acts professionally                       determine capital to cover residual risk.
    and is free from the pressure and influence of other                 c. Risk monitoring
    parties.                                                                 Risk monitoring aims, among others, to compare
 4. Integrated                                                               the set risk limits with the risk exposure that is being
    Bank Mandiri applies Integrated Risk Management                          managed.
    to Financial Services Institutions that are members                  d. Risk Control
    of the financial conglomerates of Bank Mandiri in                        Risk control is carried out on the potential for the
    accordance with regulatory provisions.                                   occurrence of overreach of the risk limit that has
 5. Sustainable                                                              been set and can be tolerated by the Bank.
    Risk control is carried out continuously developed to
    better comply with existing business conditions and
    best practices.
 6. Accountability
    Bank Mandiri implements policies and procedures to
    ensure management accountability to stakeholders.
 7. Responsibility
    Bank Mandiri acts on the principle of prudence and
    in compliance with prevailing laws and regulations.
 8. Fairness
    Bank Mandiri pays attention to the interests of
    stakeholders based on the principle of equality and
    fairness (equal treatment).




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              HIGHLIGHTS                  Report                                           Profile                             AND ANALYSIS




      RISK MANAGEMENT FRAMEWORK




      The Bank’s Risk Management Framework is contained in the Bank Mandiri Risk Governance Structure which includes three
      main parts, namely Risk Oversight, Risk Policy and Management, and Risk Identification, Measurement, Mitigation, and
      Control. The three main parts are supported by the Audit Unit as Independent Assurance in ensuring the effectiveness
      of its implementation.

      In simple terms, Bank Mandiri’s risk management framework and governance as mentioned above can be described
      as follows:


                                                           Risk Oversight



           Integrated Governance                       Risk Monitoring
                                                                                                Audit Committee
                 Committee                               Committee



                                                   Risk Policy Management



                                                                                                      Integrated Risk             Internal Audit
              Risk Management          Asset & Liability               Capital & Subsidiaries           Committee
                & Credit Policy          Committee                          Committee
                  Committee
                                                                                                IRC provides
          • Credit Risk            • Liquidity Risk                   • Strategy                recommendations to
          • Market Risk            • Interest Rate Risk               • Investment              the Board of Directors
          • Operational Risk       • Forex Risk                         Recommendation          or other Committees
          • Legal Risk             • Pricing                          • Subsidiary Capital      regarding:
          • Reputation Risk          Management                         Management              • Adequacy of
          • Strategic Risk         • Recovery Plan                                                 the process of
          • Compliance Risk                                                                        identification,
          • Capital                                                                                measurement,
            Management                                                                             monitoring, integrated
          • Liquidity Risk                                                                         risk control, and
                                                                                                   information systems.
                                                                                                • Adequacy of a
                                                                                                   comprehensive
                                                                                                   internal control system
                                                                                                   for the implementation
                                                                                                   of integrated Risk
                                                                                                   Management.
                                                                                                • Application of Risk
                                                                                                   Management in each
                                                                                                   subsidiary,
                                                                                                • Others needed in
                                                                                                   order to compile
                                                                                                   or evaluate the
                                                                                                   provisions of the
                                                                                                   integrated Mandiri
                                                                                                   Group




                                              Risk Identification, Measurement,
                                                      Mitigation, Control


                                                                                                                              Independent Assurance
                  Business Unit                             Risk Units                               Compliance




                   Risk Taking                             Risk Control                           Compliance                 Independent Assurance




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CORPORATE
 CORPORATE                  ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                            RESPONSIBILITY                         Statements 2023




                                                                                RISK MANAGEMENT FRAMEWORK




 Bank Mandiri’s Risk Governance Structure is developed                     c. Preparation and supervision of the implementation
 based on four Risk Management Pillars as follows:                             of a code of conduct related to fraud prevention
                                                                               for all levels of the organization;
 Active Supervision of the Board of                                        d. Preparation and supervision of the implementation
 Commissioners and Board of Directors                                          of an anti-Fraud strategy as a whole;
 The risk management framework and governance at Bank                      e. Development of the quality of human resources
 Mandiri consists of the Board of Commissioners that carry                     (HR), particularly those related to increasing
 out risk oversight functions through the Audit Committee,                     awareness and control of Fraud;
 Risk Monitoring Committee and Integrated Governance                       f. Monitoring and evaluation of Frauds and
 Committee, as well as the Board of Directors that carry                       determination of follow-up; and
 out risk policy and management functions through the                      g. Development of effective communication
 Executive Committee related to risk management, namely                        channels internally and for the Bank’s external,
 the Risk Management & Credit Policy Committee, Assets                         hence all executives and employees of the Bank
 & Liabilities Committee, Capital & Subsidiaries Committee,                    understand and comply with applicable policies
 and Integrated Risk Committee. Operationally, the Risk                        and procedures, including policies and procedures
 Management Unit with Business Unit and Compliance                             for fraud control.
 Unit performs the functions of risk identification, risk              9. Providing approval, oversight and evaluation on the
 measurement, risk mitigation and risk control.                            implementation of the Action Plan (Recovery Plan).
                                                                       10. For Resolution Plan, the Board of Commissioners shall:
 The duties, responsibilities, and authorities of the Board                a. Approve the Resolution Plan;
 of Commissioners related to active supervision in Risk                    b. Supervise the Bank’s fulfillment in compiling,
 Management activities include, among others:                                  updating, and/or improving the Resolution Plan
 1. Evaluating and approval of Risk Management Policy;                         to the Deposit Insurance Corporation;
 2. Evaluate the prepared-and-determined strategies by                     c. Evaluate the Resolution Plan that has been
    the Board of Directors in managing risks according                         prepared by the Board of Directors;
    to the regulatory taxonomy and other risks such as                     d. Supervise the implementation of plans to overcome
    country risk and cyber risk.                                               potential obstacles to the implementation of
 3. Evaluating the Board of Directors’ responsibility for                      resolution options.
    the implementation of the Risk Management Policy;                  11. Maintaining and monitoring the Bank’s Soundness
 4. Evaluating and deciding on the Board of Directors’                     Rating and take the necessary measures to maintain
    application related to transactions that require the                   and/or improve the Bank’s Soundness Rating;
    approval of the Board of Commissioners;
 5. Requesting an explanation and/or accountability                    To implement risk management as regulated by the
    of the Board of Directors on the Financing to certain              Ministry of SOEs, the Board of Commissioners also has the
    large borrowers;                                                   duty to determine the Bank’s Risk classification based on
 6. Providing approval on the funding to related parties;              the level of Risk Intensity by considering the dimensions
 7. Conducting active oversight includes, among others,                of the size and complexity of the Bank at the proposal of
    understanding the nature and level of risks faced by               the Board of Directors, in accordance with applicable
    the Bank, assessing the adequacy of the quality of                 regulations.
    risk management and linking the risk level with capital
    adequacy of the Bank;                                              To implement Integrated Risk Management, the Board of
 8. Conducting active supervision related to anti-Fraud                Commissioners is responsible to:
    at least includes the following:                                   1. Direct, approve, and evaluate Integrated Risk
    a. Development of anti-Fraud awareness and culture                     Management policies;
         in all levels of the organization, including anti-Fraud       2. Evaluate the implementation of Integrated Risk
         declarations and adequate communication on                        Management policies by the Board of Directors of
         behavior that includes Fraud;                                     the Main Entity.
    b. The signing of integrity pact by all organizational
         ranks of the Bank;

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            HIGHLIGHTS                   Report                          Profile                          AND ANALYSIS




      RISK MANAGEMENT FRAMEWORK



      3. Ensure the implementation of Integrated Risk                     b. Ensuring the accuracy and completeness of data,
         Management is in accordance with the characteristics                information, and/or documents in compiling,
         and complexity of the Financial Conglomerates                       updating, and/or improving the Resolution Plan,
         business.                                                           which is submitted to the Deposit Insurance
                                                                             Agency;
      The duties, responsibilities, and authorities of the Board of       c. Submitting a Resolution Plan to the Board of
      Directors related to Risk Management activities include:               Commissioners and Shareholders at the General
      1. Developing and proposing Risk Management policies                   Meeting of Shareholders for approval;
          and strategies in writing and comprehensively;                  d. Submitting a Resolution Plan, updating and/
      2. Responsible for the implementation of the Risk                      or improving the Resolution Plan to the Deposit
          Management Policy and risk exposure taken by the                   Insurance Corporation in accordance with the
          Bank as a whole;                                                   predetermined time limit;
      3. Evaluating and deciding on transactions that require             e. Implementing plans to overcome potential
          the approval of the Board of Directors;                            obstacles to the implementation of resolution
      4. Developing a culture of Risk Management at all levels;              options.
      5. The active supervision of the Board of Directors             12. Maintaining and monitoring the Bank’s Soundness
          related to anti-Fraud is the same as that of the                Rating and take the necessary measures to maintain
          Board of Commissioners as stated in the duties and              and/or improve the Bank’s Soundness Rating;
          responsibilities of the Board of Commissioners;             13. Implementing other Risk Management functions in
      6. Ensuring the improvement of human resource                       accordance with laws and regulations, articles of
          competencies related to Risk Management;                        association, and/or decisions of the RUPS/Minister of
      7. Ensuring that the Risk Management function has                   SOEs.
          operated independently;
      8. Conducting periodic reviews to ensure;                       To implement risk management in accordance with
          a. Accuracy of Risk assessment methodology;                 that regulated by the Ministry of SOEs, the Board of
          b. Adequacy of Risk Management information system           Directors also has the duty to determine the classification
              implementation;                                         of Subsidiary Company Risks based on the level of Risk
          c. Accuracy of Risk Management policies and                 Intensity, taking into account the dimensions of size and
              procedures, as well as setting Risk Limit and/ Risk     complexity, in accordance with applicable regulations.
              threshold.
      9. Conducting active supervision includes, among others,        To implement Integrated Risk Management, the Board of
          understanding the nature and level of risks faced by        Directors is responsible to:
          the Bank, assessing the adequacy of the quality of risk     1. Develop an Integrated Risk Management Policy in
          management, and linking the risk level with capital             writing and comprehensively;
          adequacy of the Bank;                                       2. Implement the established Integrated Risk
      10. Developing and implementing the Bank’s Recovery                 Management Policy;
          Plan, which includes:                                       3. Develop a risk culture as part of the implementation
          a. Developing a realistic and comprehensive                     of Integrated Risk Management in Financial
              Recovery Plan;                                              Conglomerates;
          b. Submitting the Recovery Plan to shareholders at          4. Ensure the effectiveness of human resource
              the GMS for approval;                                       management which includes the competence,
          c. Communicating the Recovery Plan to all ranks or              qualifications, and adequacy of human resources
              levels of the Bank’s organization;                          in the Main Entity to carry out the Integrated Risk
          d. Evaluating and testing (Stress Testing) the Action           Management function;
              Plan (Recovery Plan) periodically; and                  5. Ensure that the implementation of Integrated Risk
          e. Implementing the Recovery Plan effectively and               Management has been carried out independently;
              in a timely manner.                                     6. Periodically evaluate the results of the Integrated
      11. Developing and implementing a Resolution Plan which             Risk Management Unit review of the Integrated Risk
          includes:                                                       Management process;
          a. Resolution Plan which includes;                          7. Ensure the implementation of Integrated Risk
                                                                          Management in accordance with the characteristics
                                                                          and complexity of the Financial Conglomerates
                                                                          business.




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CORPORATE
 CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                           RESPONSIBILITY                              Statements 2023




                                                                               RISK MANAGEMENT FRAMEWORK



 In order to support the effectiveness of the implementation         Bank Mandiri’s Risk Appetite is realized through the Risk
 of supervisory duties and responsibilities related to the           Appetite Framework which is a strategic decision-making
 Implementation of Risk Management, the Board of                     that describes Bank Mandiri’s risk strategy. Risk Appetite is
 Commissioners and the Board of Directors may form                   reflected in the Bank’s business strategy and objectives.
 committees that refer to the applicable regulatory
 regulations.                                                        Risk appetite is articulated through a Risk Appetite
                                                                     Statement (RAS), which is a formal guideline in the risk-
 Bank Mandiri’s risk management organization consists of:            taking process to achieve business targets. RAS is pivotal
 1. Board of Commissioners                                           because it will provide clear and consistent direction to
 2. Committee under the Board Commissioners                          all levels of Bank Mandiri on the Bank’s risk-taking ability.
 3. Board of Directors
 4. Committee under the Board of Directors                           Adequacy of Risk Identification, Measurement,
 5. Director in charge of Risk Management function;                  Monitoring, and Control Processes, as well
 6. Risk Management Work Unit (SKMR);                                as Risk Management Information Systems
 7. Operational Work Unit (risk-taking unit);                        Bank Mandiri performs the Risk Identification, Measurement,
 8. Internal Audit Work Unit (SKAI);                                 Monitoring, and Control Process, as well as the Risk
 9. Compliance Work Unit.                                            Management Information System through the Enterprise
                                                                     Risk Management (ERM) framework. The implementation
 The Risk Management Unit (SKMR), the Internal Audit Unit            of ERM at Bank Mandiri uses a two-prong approach, to
 (SKAI) and the Compliance Unit concurrently serve as an             ensure that risks are not only properly mitigated through
 Integrated Unit.                                                    daily business processes, but also in downturn through
                                                                     capital reserves.
 Adequacy of Policies, Procedures,
 and Limits Setting                                                  Internal Control System
 Bank Mandiri has a Risk Management Policy which is used             Bank Mandiri operates an Internal Control System over the
 as the main guideline in implementing risk management.              Risk Management function by implementing the Three
 For more specific business areas, Bank Mandiri has more             Lines Models policy, which in its implementation is the
 specific policies and procedures, for example in the                joint responsibility of the first line, second line and third line.
 areas of credit, treasury, and operations. The policies
 and procedures stipulate the limits setting for each                The Internal Audit Unit as the third line performs assurance
 activity, both at the portfolio and transactional levels. All       and consulting activities on the adequacy of the Bank’s
 policies and procedures at Bank Mandiri are a form of               internal control system, risk management, and governance
 risk management attached to each of the Company’s                   processes pursuant to prevailing laws and regulations, as
 operating activities that are evaluated and updated                 well as Bank policies.
 at least once a year. In accordance with SEOJK 34/
 SEOJK.03/2016 concerning the Implementation of Risk
 Management for Commercial Banks, in order to effectively
 control Risk, the policies and procedures owned by the
 Bank must be based on a Risk Management strategy
 by taking into account the level of Risk Appetite. Risk
 Appetite is a type & level of risk that can be taken/faced
 by the Bank, which is within its risk capacity, in order to
 achieve/exceed business objectives.




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            HIGHLIGHTS                 Report                        Profile                          AND ANALYSIS




      INTEGRATED RISK MANAGEMENT
      IMPLEMENTATION



      Consolidated/Integrated Risk Management at Bank             Generator (RACER) System to support the process of
      Mandiri has been implemented since 2008, in line with the   self-assessment as stated with the following explanation:
      issuance of Bank Indonesia Regulation No. 8/6/PBI/2006
      concerning the Implementation of Consolidated Risk          1. Risk Based Bank Rating (RBBR) approach, which
      Management for Banks that Control Subsidiaries. In its         includes an assessment of Risk Profile, Integrated
      development, the regulation was replaced by the Financial      Governance, Profitability and Capital. During 2023,
      Services Authority Regulation No. 38/POJK.03/2017              the Bank has reported Bank Mandiri’s Consolidated
      concerning the Implementation of Consolidated Risk             Soundness Rating for the Second Semester of 2022
      Management for Banks that Control Subsidiaries. In             and First Semester 2023 periods to the Regulator in a
      addition, Bank Mandiri has also implemented Integrated         timely manner.
      Risk Management in accordance with the Financial            2. Consolidated Risk Profile which includes the
      Services Authority Regulation No. 17/POJK.03/2014              management of 8 types of risks (Credit, Market,
      concerning the Implementation of Integrated Risk               Liquidity, Operational, Legal, Reputational, Strategic
      Management for Financial Conglomerates. In the                 and Compliance Risks). During 2023, Bank Mandiri
      implementation of Integrated Risk Management, Bank             has reported the results of the self-assessment of the
      Mandiri is also guided by the Integrated Governance            Consolidated Risk Profile for the period of Quarter IV
      Guidelines which refer to POJK No. 18/POJK.03/2014             2022 and Quarter I, II, III 2023 to the Regulator in a
      concerning the Implementation of Integrated Governance         timely manner.
      for Financial Conglomerates.                                3. Integrated Risk Profile which includes the management
                                                                     of 10 types of risks (8 types of risks plus Intra-Group
      The implementation of Consolidated/Integrated Risk             Transaction and Insurance Risks). During 2023, Bank
      Management is carried out while complying with the             Mandiri has reported the Integrated Risk Profile for
      principles of Risk Management, taking into account the         the Second Semester of 2022 and First Semester 2023
      business characteristics of each Subsidiary and adjusting      periods to the Regulator in a timely manner.
      to the jurisdiction of the local Authority/Regulator. The
      subsidiaries of Bank Mandiri are Bank Syariah Indonesia,    The proposed results of the Consolidated/Integrated Risk
      Bank Mandiri Taspen, Bank Mandiri (Europe) Ltd, Mandiri     Profile self-assessment and the Consolidated RBBR were
      Tunas Finance, Mandiri Utama Finance, AXA Mandiri           recommended by the Integrated Risk Committee (IRC)
      Financial Services, Mandiri Inhealth, Mandiri Sekuritas,    and the approval was provided by the Risk Management &
      Mandiri Capital Indonesia and Mandiri International         Credit Policy Committee (RMPC) Category A. Furthermore,
      Remittance.                                                 the self-assessment results of the Consolidated/Integrated
                                                                  Risk Profile and the Consolidated RBBR approved by the
      As an active supervision of the Main Entity on the          RMPC are reported to the Regulator and submitted to
      implementation of Consolidated/Integrated Risk              the Integrated Governance Committee.
      Management, Bank Mandiri has the Integrated Risk
      Committee (IRC) consisting of the Board of Directors
      and executives of the Bank with the Board of Directors
      and/or Executives of Subsidiaries. Bank Mandiri also has
      an Integrated Risk Management Unit (SKMRT), which is
      directly responsible to the Director of Risk Management.

      Bank Mandiri actively carries out identification,
      measurement, monitoring and control of Mandiri Group
      (self-assessment) risks, using an integrated information
      system, namely the Risk Assessment Consolidation




812   PT Bank Mandiri (Persero) Tbk.
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CORPORATE
 CORPORATE                ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE               & PRACTICES                       RESPONSIBILITY                           Statements 2023




                     BUILDING RISK AWARENESS CULTURE




 To realize Bank Mandiri’s vision “We aim to be your preferred financial partner”, the Bank promotes risk-awareness culture
 in all operational and business activities to mitigate risks that may disrupt the Bank’s business continuity. The culture is
 introduced to all levels of the Bank, from top management to junior staff. The Bank’s Board of Directors and Board of
 Commissioners have also determined a Risk Appetite Statement (RAS) that defines the risk level that the Bank is able
 to tolerate. RAS indicates the Bank’s risk tolerance capacity and is developed to help the Bank achieve its business
 objectives. RAS informs business decision-making, and its implementation is intensively monitored.

 Risk-awareness culture building is also reflected from the Bank’s product and technology development; every development
 initiative observes the Risk Management System so that business sustainability can be maintained. Risk assessment and
 mitigation are also considered prior to a product or service launch/implementation. This risk approach also applies in
 the Bank’s internal policies and technical guidelines formulation.

 A successful risk-awareness culture needs support from everyone in the organization. Realizing this, the Bank incorporates
 risk-awareness into its corporate culture. The AKHLAK core values of the Bank are applied to ensure that they are
 deeply reflected in the employees’ daily conduct – all employees are expected to drive for growth whilst keeping risk
 consideration in mind in order for that growth to be sustainable in the long run.

 Solid communication strategies are also important in improving risk-awareness culture. Bank Mandiri utilizes a wide variety
 of communication channels to ensure the wide reach of its messages. The different media channels are employed in
 a comprehensive manner, adaptive, and sustainable in order to build risk-awareness culture within an open, efficient,
 and effective risk management framework.




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             HIGHLIGHTS                           Report                                   Profile                            AND ANALYSIS




      RISK AWARENESS PROGRAM


      Foundation of effective risk management is accomplished by building risk culture and continuous learning. To improve
      the culture of risk awareness, particularly operational risks among employees, Bank Mandiri has some flagship programs
      such as operational risk awareness (OPERA), fraud awareness, security awareness, compliance awareness, and business
      continuity awareness. These programs are designed to increase understanding and effectiveness of operational risk
      management by each level of Bank Mandiri employee. These awareness programs are organized regularly and
      thoroughly for bankwide, including for Subsidiaries and Overseas Branches. The risk awareness program series is arranged
      thematically that is adaptive, particularly in responding to emerging risk trends, namely the increase in existing risks
      and the emergence of new potential risks, including Cyber Resilience & Data Security, significant internal and external
      events, the latest news on operational risks, top global risk, Control Testing results, and so forth.

      In 2023, alignment initiative on risk awareness program bank-wide was carried out in order for the programs to be
      delivered to all employees effectively according to regulatory compliance and eventually could minimize the Bank
      operational loss. This initiative is including standardization of program delivery, media or channel, and audience target.

      In general, risk awareness program is divided into two categories based on the dimension of:
      1. Buzz
          Buzz is term for risk awareness program which is delivered one-way and doesn’t need any feedback from employee,
          such as poster, toon, video, etc.
      2. School
          School is term for risk awareness which is delivered two-way and need feedback or response from employee, such
          as survey and e-learning.
       No.                          Buzz Program                               Frequency                              Coverage
      1      Tone                                                         Monthly              •   Employees of Bank Mandiri Regional and Head Office
             Short cartoon character comics with light and                                     •   Employees of Bank Mandiri Overseas Branch
             contemporary daily content.
      2      Poster                                                       Monthly              •   Employees of Bank Mandiri Regional and Head Office
             A one-page poster contains quotes/sentences inviting                              •   Employee of Bank Mandiri Overseas Branch
             employees to be aware of risks.
      3      Infographics                                                 Bimonthly            •   Employees of Bank Mandiri Regional and Head Office
             Articles/infographics contain a comprehensive                                     •   Employees of Bank Mandiri Overseas Branch
             explanation of risk issues and tips & tricks.
      4      Video                                                        Ad Hoc               Organic employees, contract resource, outsource
             Short videos that raise issues or trends in a risk and its                        employees
             mitigation.
      5      Module                                                       Ad Hoc               Organic employees, contract resource, outsource
             Material contains a risk management framework as an                               employees
             employee guideline (handbook).



       No.                        School Program                               Frequency                              Coverage
      1      Forum                                                  Quarterly                  •   Employees of Bank Mandiri Regional and Head Office
             Broadcasts/forums/workshops that discuss issues/trends                            •   Employee of Bank Mandiri Overseas Branch
             around risk and mitigation.
      2      Survey                                                       Monthly              •   Employees of Bank Mandiri Regional and Head Office
             Survey/checklist contains short questions to employees                            •   Employee of Bank Mandiri Overseas Branch
             through Ms. Form.
      3      E-learning                                                   Annually             Organic employees
             Learning to employees contains material with post
             tests.



      The Risk Awareness programs help employees to understand the importance of operational risk management, thereby
      improving its effectiveness and efficiency.




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CORPORATE
 CORPORATE               ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                                Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                     RESPONSIBILITY                                          Statements 2023




                                                 BANK RISK MANAGEMENT


 In an effort to maximize shareholder value, the Bank risk management is carried out in an integrated manner through
 the Enterprise Risk Management framework which links strategic planning, risk appetite, execution, risk assessment and
 performance evaluation. The implementation of risk management is aimed at providing value added for the Bank and
 shareholders to realize the Corporate Plan. The implementation of ERM at Bank Mandiri uses a two-prong approach,
 namely risk management through capital and risk management through operational activities, as illustrated in the
 diagram below:




                                                                                    Bussiness Process




                               Managing Risk              Front End                    Middle End                      Back End
                             Through Operation



                                                                   Risk Mangement through daily business operations


    Two-Prong
    Approach

                                                                            Capital Management & Planning




                               Managing Risk
                              Through Capital                              Regulatory Capital, Stress Test



                                                          Capital as buffer for unexpected loss; capital as risk-return allocation




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            HIGHLIGHTS                    Report                           Profile                            AND ANALYSIS




      RISK AWARENESS PROGRAM



      In the application of the two-prong approach, there are             d. Risk Oversight, which entails monitoring of activities/
      4 (four) main components that function as supporting                   methodologies of risk management at Bank
      pillars, including:                                                    Mandiri, and the Internal Control System.

      1. Organization & Human Capital                                     This Risk Management Policy become the basis
         The Risk Management Unit (SKMR) at Bank Mandiri                  for making procedures and technical guidelines
         is responsible for managing all risks faced by Bank              concerning risk management at Bank Mandiri.
         Mandiri, including the development of supporting tools
         required in business and risk management. Moreover,           3. System & Data
         there is a work unit acting as a risk counterpart of every       The risk management system is developed to support
         business unit in the four-eye process of lending. Realizing      more efficient business processes so that decision-
         that risk management is the responsibility of all work           making is faster yet prudent. To maintain integrity and
         units at Bank Mandiri, the success of risk management            data quality, Bank Mandiri has adopted an Integrated
         is determined by risk awareness in all Bank Mandiri              Processing System and a Loan Origination System
         work units accompanied by adequate technical                     to increase the efficiency of credit processes and
         capabilities. As such, Bank Mandiri always improves              maintain data quality in the Corporate, Commercial,
         the capabilities and knowledge of all employees,                 and Retail segments. To increase collection productivity
         particularly in terms of risk management, by organizing          level particularly in the Consumer and Retail segments,
         regular internal training through the Risk Management            the Bank adopts an Integrated Collection System. Bank
         Academy or through the use of expatriates in the                 Mandiri utilizes a Summit System and an Ambit Focus
         area of risk management, hence there is a transfer of            System to manage trading book and banking book
         knowledge to Bank Mandiri employees. Bank Mandiri                risks in the activities of treasury and assets & liabilities
         also regularly holds socialization at least once a year,         management.
         discussion forums, internships, and programs on risk
         management that are in line with the internalization             To assess the Risk Profile and the Soundness Level
         of corporate culture.                                            of Mandiri Group at individual and consolidated/
                                                                          integrated levels, the Bank has adopted a web-
         The Risk Management structure at Bank Mandiri consists           based tool called Risk Assessment Consolidation
         of the Risk Management Directorate in charge of                  Generator System (RACER) so that the risk assessment
         Independent Risk Management and Credit Approval                  processes are more effective, efficient, accurate, and
         Risk units comprising Wholesale Risk and Retail Risk. The        accountable and that the authorized access to the
         Risk Management Directorate is led by the Director of            system is maintained.
         Risk Management assisted by SEVP of Wholesale Risk.
                                                                       4. Methods/Model & Analytics
      2. Policies and Procedures                                          Bank Mandiri has continuously implemented a risk
         A Risk Management Policy (KMNR) become the main                  measurement that adheres to international best
         guidelines on the implementation of risk management              practices by using quantitative and qualitative
         at the operational level and the capital management              methods and developing risk models such as rating,
         at the Bank consists of:                                         scoring, Value at Risk (VaR), portfolio management,
         a. Prudence, which entails capital adequacy,                     stress testing, and others as support for judgmental
             fulfillment of prevailing laws and regulations, and          decision-making.
             an early warning system.
         b. Risk Management, which entails Risk Appetite,                 Periodically, available models are validated by an
             Risk Profile, Bank Soundness Rating, Stress Testing,         independent Unit Model Validator to ensure the
             Recovery Plan, and Resolution Plan, as well as               quality and validity of such models. These risk models
             Integrated Risk Management.                                  are managed through a model risk management
         c. Risk Management for each type of risks, which
             entails processes of risk identification, measurement,
             oversight, and control.




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 GOVERNANCE              & PRACTICES                         RESPONSIBILITY                          Statements 2023




                                                                                  RISK AWARENESS PROGRAM



    framework inherent in the function of the Model                  c. Model Control
    Governance Guiding Unit. The management of model                    The process of monitoring of models and control
    risk is done to ensure control over every component                 over models constitutes a continuous assessment.
    in the model used in business processes and decision-               The control process is done by validating models
    making. This model management framework includes:                   based on first-time validation or ongoing validation.
    a. Inventory Model                                                  The first-time validation is validation conducted for
         Through the inventory model, an inventory of the               the first time after the model development process
         existing models is carried out at Bank Mandiri.                takes place to ensure that the developed models
         This model inventory includes information related              adhere to academic requirements, best practices,
         to the model including a description of the                    and regulatory requirements. The ongoing
         model’s statistical results, the purpose of using              validation is validation conducted periodically to
         the model, model owner, developer model, user                  ensure the performance of models.
         model, validation results, and model-related
         documentation. In addition, in the system above         With the adoption of the model management framework,
         the Inventory model, a model will be in a certain       there is a segregation of duties between the first line
         model cycle according to the Model Lifecycle,           (owner, developer, and user models), the second line
         including model initiation, model development,          (validator model and model management guiding unit),
         model validation, model implementation, model           and the third line (Internal Audit) based on three lines
         use and model monitoring.                               models.

    b. Model Risk Assessment                                     Bank Mandiri also continues to implement Basel II, III, and
       An assessment of the level of risk of the models          ERM in compliance with the Financial Services Authority
       based on quantifiable observations about the              and the BCBS (Basel Committee on Banking Supervision)
       materiality and complexity of the models.                 as well as the best practices, which cover Credit Risk,
                                                                 Market Risk, Liquidity Risk, Interest Rate Risk on Banking
                                                                 Book Position, Operational Risk, Capital Management, and
                                                                 Internal Capital Adequacy Assessment Process (ICAAP),
                                                                 as well as Stress Testing and Recovery Plan.




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      TYPES OF RISKS AND ITS MITIGATIONS


      There are 10 (ten) types of risks managed by Bank Mandiri       work-flow (loan factory). The monitoring process is carried
      in an integrated manner:                                        out on a portfolio basis through Portfolio Quality Review,
      1. Credit Risk                                                  which can be continued with the collection and recovery
      2. Market Risk                                                  process for non-performing portfolios.
      3. Liquidity Risk
      4. Operational Risk                                             To anticipate the deterioration of macroeconomic
      5. Legal Risk                                                   conditions, a what-if analysis of wholesale and retail
      6. Reputation Risk                                              portfolios is carried out through a process of stress testing
      7. Strategic Risk                                               and sensitivity analysis using certain macroeconomic
      8. Compliance Risk                                              scenarios.
      9. Intra-Group Transaction Risk
      10. Insurance Risk                                              In disbursing its loans, Bank Mandiri always prioritizes
      11. Sustainability/ESG Risk                                     the principle of prudence by placing a credit analysis
                                                                      function carried out by independent business units and
      CREDIT RISK MANAGEMENT                                          credit risk units. Bank Mandiri is always guided by the
                                                                      Credit Policy (KPKD) in managing credit risk end-to-end.
      Credit risk management and mitigation are carried               Operationally, this policy is stated in the form of Credit
      out at every stage of lending. Bank Mandiri’s credit risk       Standard Procedures (SPK) and Product Manuals.
      management process for the Wholesale segment begins
      with determining the target market referring to the Loan        In carrying out credit concentration risk management
      Portfolio Guideline, which divides the industrial sector into   at the borrower level, Bank Mandiri consistently monitors
      an Industry Classification (attractive, neutral, selective,     the Legal Lending Limit (LLL) and the application of
      vigilant) based on the outlook and portfolio quality, and       Management Limit and for large business groups. In
      Industry Limit which aims at minimizing the credit risk         general, the credit process and credit risk management
      concentration in a particular sector.                           at Bank Mandiri have been carried out end-to-end and
                                                                      integrated by the Business Unit, Credit Operation Unit and
      Furthermore, to obtain a pipeline of qualified prospective      Credit Risk Management Unit.
      borrowers, a pre-approval process is carried out through
      a number of stages using credit risk tools. These stages        The Bank periodically reviews and improves credit policies
      include the Clearance process which includes an initial         in general, credit procedures per business segment and
      analysis of targeted customers which includes reputation,       risk management tools. The work guidelines provide
      business, finance which is then followed by a credit risk       complete credit risk management instructions, to identify
      assessment by taking into account ratings, financial            risks, measure and mitigate risks in the end-to-end crediting
      conditions, analysis of prospective borrowers, etc. The         process starting from determining the target market, credit
      results of this assessment are then decided by the Credit       analysis, approval, documentation, credit withdrawal,
      Approval Authority Holder with a four-eyes principle            monitoring/supervision, to the process of resolving/
      involving the Business Unit and Credit Risk Management          restructuring non-performing loans.
      Unit independently.
                                                                      To increase the Bank’s social role and concern for
      Following the credit disbursement process, regular              environmental risks and in applying the principle of
      monitoring (early warning signal) is carried out to detect      responsibility in Good Corporate Governance, Bank
      early borrowers that have potential of non-performing;          Mandiri has integrated Environmental, Social and
      hence an action plan can be prepared on target,                 Governance (ESG) aspects into the Industry Acceptance
      including collection, recovery and restructuring activities.    Criteria Technical Guidelines which are used to select
                                                                      qualified prospective debtors and prospective debtors
      On Retail segment, as it is a mass market, the credit           who have applied ESG principles in their business
      process is carried out more automatically using a credit        activities. This is in line with the Financial Services Authority
      risk scorecard, by referring to the Risk Acceptance Criteria    (OJK) Regulation No.40/POJK.03/2019 concerning
      of each product, and processed through an automated             Asset Quality Assessment of Commercial Banks which




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                                                                           TYPES OF RISKS AND ITS MITIGATIONS




 stipulates that the assessment of the debtor’s business              MARKET RISK MANAGEMENT
 prospects also considers the debtor’s efforts in maintaining
 the environment. In addition, in order to maintain the               Market risk management is carried out by an independent
 environment, the Bank has prepared a Sustainable                     unit by implementing the segregation of duties principle,
 Finance Action Plan as stipulated in the Financial Services          the separation of functions and responsibilities consisting
 Authority Regulation on the Application of Sustainable               of the front office, middle office, and back office. The
 Finance for Financial Service Institutions, Issuers and Public       Market Risk Management Organization comprises two
 Company.                                                             parts, namely Market Risk Management – Trading Book
                                                                      and Market Risk Management – Banking Book.
 In principle, credit risk management is applied at the
 transactional level as well as the portfolio level. At the           The framework for and governance of market risk
 transactional level, a four-eyes principle is applied, namely        management at Bank Mandiri consist of:
 every credit approval involves the Business Unit and                 1. The Board of Commissioners, who are responsible
 Credit Risk Management Unit independently to obtain                     for market risk oversight through the Risk Monitoring
 an objective decision. The four-eyes principle mechanism                Committee, Integrated Governance Committee, and
 is carried out by the Credit Committee in accordance                    Audit Committee.
 with the limit of authority with the credit approval process         2. Directors, who are responsible for the risk policy function
 carried out through the Credit Committee Meeting                        through the Executive Committee with respect to
 mechanism.                                                              market risk management and recovery plan, the Assets
                                                                         & Liability Committee, and Risk Management and
 Credit risk from borrowers and products has been covered                Credit Policy Committee.
 and reserved through impairment losses allowance, which              3. Risk Management Unit together with the business units
 is currently calculated based on PSAK 71 as of 1 January                and compliance unit, who perform risk identification,
 2020, and monitored through indicator cost of credit.                   risk calculation, risk monitoring, and risk control.

 Throughout 2023, the Bank continued to conduct regular               The Risk Management Framework of Bank Mandiri is
 monitoring of the portfolio of debtors affected by the               developed based on internal and external factors
 Covid-19 pandemic. The debit balance of the covid                    including but are not limited to the Bank’s business,
 restructuring portfolio in October 2023 has improved                 regulatory provisions, development of methodologies
 significantly to Rp21.1 trillion compared to December 2022           and best practices, as well as risk data. The authority
 of Rp35.9 trillion. This decrease is the impact of debtors           and responsibilities regarding the implementation of risk
 making normal payments as before the pandemic so that                management are regulated in the Risk Management
 the Covid-19 restructuring flag can be removed and also              Policy (RMP). Meanwhile, the guidelines on market risk
 due to the repayment of credit facilities.                           management in both the trading book portfolio and
                                                                      banking book are outlined in the Standard Treasury
 OJK through the decision of the Board of Commissioners               Procedure (STP) and the Standard Asset & Liability
 No. 34/KDK.03/2022 determined new criteria for the                   Procedure Management (SALPM).
 extension of Covid-19 restructuring which regulates the
 granting of a stricter extension of Covid-19 restructuring.          Management and Mechanism of Market
 This has the potential to increase NPL if not managed                Risk Measurement – Trading Book
 properly. Bankwide’s NPL (Excluding Bank) percentage                 Trading book market risk is a risk arising from potential losses
 has been successfully reduced from 1.88% as of December              due to trading book activities, changes in interest rates,
 2022 to 1.06% as of December 2023 This NPL improvement               and exchange rates (including derivative instruments).
 is supported by the optimization of efforts to upgrade               Bank Mandiri’s market risk management is carried out by
 collectibility and collection for NPL debtors throughout             applying the segregation of duties principle, i.e. separating
 2023. In the aspect of LAR Include Covid-19, the Bank has            functions and responsibilities of the treasury unit trade
 also succeeded in reducing LAR Include Covid-19 from                 transactions, which consist of:
 12.10% as of December 2022 to 9.18% as of December 2023
 as a result of declining NPLs and Covid-19 restructuring
 portfolio. Going forward in 2024, the Bank projects NPLs
 to remain stable with a tendency to improve.




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      TYPES OF RISKS AND ITS MITIGATIONS




                    Front Office Unit                          Middle Office Unit                             Back Office Unit
                       (Treasury)                             (Risk Management)                            (Treasury Operation)

                  Executing Transactions                 Monitor, assess, and report risks          Record and evaluate all exposures to
                                                         arising from all trading activities         daily trading activities using market
                                                        carried out by the front office unit.         prices from independent sources




      The measurement of trading book risk is done according to             LIQUIDITY RISK MANAGEMENT
      regulatory provisions and some internal indicators, which
      include Value at Risk, sensitivity simulation, and stress             Liquidity risk is arising from the Bank’s inability to fulfill
      testing. Monitoring is conducted by implementing some                 due obligations using cash flow financing and/or high-
      types of transaction limits at the dealer level to ensure             quality collateral liquid assets without disrupting the Bank’s
      exposures from Treasury transactions remain consistent                activities and financial conditions.
      with the risk appetite set by the management.

      Management and Mechanism of Market                                    Liquidity risk can be divided into two categories:
      Risk Measurement – Banking Book                                       1. Funding Liquidity Risk, which is a risk caused by the
      The banking book market risk is a risk that arises because of             Bank’s inability to liquidate its assets or secure funding
      changes in interest rates and exchange rates for banking                  from other sources. The inability to secure cash flow
      book activities that can affect the Bank’s profitability                  financing that causes liquidity risk can be explained
      (earning perspective) and the economic value of Bank                      by (1) the Bank’s inability to generate cash flow from
      capital (economic value perspective). The management                      productive assets or asset liquidation including liquid
      of Bank Mandiri’s banking book market risk is done by                     assets; and/or (2) the Bank’s inability to generate
      optimizing the balance sheet structure to obtain maximum                  cash flow from funding, interbank transactions, and
      returns per the level of acceptable risk. It is also done                 received loans.
      by setting a limit that is in accordance with internal                2. Market Liquidity Risk, which is a risk caused by the
      provisions and the applicable laws and regulations, which                 Bank’s inability to close out certain positions at a
      is monitored periodically by the relevant work unit.                      market price due to inadequate market liquidity
                                                                                conditions or disruptions in the market.




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                                                                           TYPES OF RISKS AND ITS MITIGATIONS



 Liquidity Risk Management is carried out in the following            4. Monitor external indicators such as Jakarta Interbank
 4 (four) stages:                                                        Offered Rate (JIBOR), USD Interbank, Rupiah interest
 1. Identification, to determine risk and sources of liquidity           rate, yield from SUN and UST with a 10-year tenor,
     risk and the problems it poses so that it may be                    Outstanding IDR banking liquidity, USD/IDR exchange
     controlled and mitigated. The identification of liquidity           rate, credit spread of default swaps (CDS), Composite
     risk can be conducted by identifying balance sheet                  Stock Price Index (CSPI), as well as current market
     components and administrative account components                    information. This monitoring aims to increase awareness
     that may affect the Bank’s liquidity and identifying                of less stable economic conditions, either due to a
     market parameters such as crises and other things.                  global crisis or various domestic issues.
 2. Measurement, to measure liquidity risk, which is done
     using 2 (two) approaches, namely (1) Nominal Stock-              Liquidity Adequacy Ratio
     Based (Liquidity Ratio) which entails the use of various         Bank Mandiri’s liquidity adequacy can be identified
     financial ratios as an indicator of the level of liquidity       through Liquidity Coverage Ratio, Net Stable Funding
     risk and (2) Flow-Based (Liquidity Gap Analysis).                Ratio, Macroprudential Intermediation Ratio (MIR), and
 3. Monitoring, which is conducted using a limit system               Liquidity Reserves. The Liquidity Coverage Ratio (LCR) is a
     to monitor the indicators of liquidity risk.                     ratio of High-Quality Liquid Assets (HQLA) to the estimated
 4. Control, which is an activity that aims to minimize               net cash outflow within the next 30 (thirty) days in a
     the impact of liquidity risk by considering the level of         crisis scenario. The LCR aims to improve the short-term
     income earned.                                                   liquidity of a bank during a crisis. In December 2023, Bank
                                                                      Mandiri’s LCR reached 176.24% (Bank Only) and 169,58%
 Tools and Method                                                     (consolidated), above the minimum LCR fulfillment target
 Bank Mandiri manages liquidity risk by measuring the                 set by the Regulator which was 100%.
 liquidity risk using some indicators, such as primary
 reserve ratio (minimum statutory reserves and Cash ratio),           Another indicator used by Bank Mandiri to determine
 secondary reserve (liquidity reserves), Macroprudential              liquidity adequacy is the Net Stable Funding Ratio (NSFR).
 Intermediation Ratio (MIR), Liquidity Coverage Ratio (LCR),          The Net Stable Funding Ratio (NSFR) is a ratio of available
 and Net Stable Funding Ratio (NSFR).                                 stable funding to required stable funding. As of December
                                                                      2023, Bank Mandiri’s NSFR reached 116,59% (Bank Only)
 To manage liquidity risk in a measured and comprehensive             and 118,07% (consolidated), above the minimum NSFR
 manner, Bank Mandiri implements the following strategies:            fulfillment target set by the Regulator which was 100%.
 1. Determine limits that refer to internal provisions and
     regulatory provisions.                                           The Macroprudential Intermediation Ratio (MIR) is a ratio
 2. Perform periodic liquidity risk stress testing to determine       of distributed credit and corporate commercial paper
     the impact of changes in market factors and internal             fulfilling certain requirements and are owned by the bank
     factors in extreme conditions (crises) on liquidity              to third-party funds, commercial paper fulfilling certain
     conditions.                                                      requirements issued by the bank, and loans fulfilling certain
 3. Arrange and conduct a periodic review of the                      requirements received by the bank. As of December 2023,
     Liquidity Contingency Plan (LCP) and Recovery Plan               Bank Mandiri’s RIM (Bank Only) reached 83.73%.
     that regulate the Company’s procedure for handling
     worsening liquidity conditions including alternative
     financing strategies such as sale/purchase of FX, Money          In addition, Bank Mandiri has liquidity reserves, which serve
     Market instruments, and Interbank Securities Repo,               as a liquid asset above minimum statutory reserves that are
     Government Bond sale, and the use of Standing Facility           used to meet unscheduled liquidity needs. In managing its
     and repo of the Bank Indonesia. The determination                liquidity reserves, Bank Mandiri sets a limitation in the form
     of liquidity conditions and financing strategies in the          of safety level, which is a projection of liquidity reserves for
     LCP and Recovery Plan has considered internal and                the next 1 (one) month. As of December 2023, the Bank’s
     external conditions.                                             liquidity reserves were above the safety level.




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      TYPES OF RISKS AND ITS MITIGATIONS




                                                                            2. Comprehensive and extensive in all parts of the Bank,
      RISK OPERATIONAL MANAGEMENT                                              and remains focused on material and or significant risks
      An operational risk arises from the inadequacy and/or                    and the most effective mitigation processes.
      malfunction in internal processes, human error, system                3. Proactive in identifying and detecting potential control
      failure, and/or external events that affect the Bank’s                   weaknesses and the occurrence of risks hence risks
      operations. Operational risks can lead to the onset of                   can always be minimized.
      other risks such as reputational risk, strategic risk, legal risk,    4. Comply with the provisions for the fulfillment of capital
      market risk, credit risk, compliance risk, and liquidity risk.           adequacy operational risks in accordance with
      Effective and consistent operational risk management is                  regulations and the development of risks appetite.
      important to minimize the emergence of those other risks.
                                                                            Operational risk management is implemented through
      Operational risks are inherent to every product/activity/             layered lines of defense where each line of defense has
      operational process of the Bank as part of its business               its own role and method in countering operational risks
      activities. The risks are also the responsibility of every            based on the principle of combined assurance hence a
      person within the Bank. Risk & Control Owner have the                 balance between risk & reward is also achieved.
      primary responsibility to carry out an optimal operational
      risk management to minimize this risk.                                The Risk & Control Owner is fully responsible for the risks and
                                                                            the implementation of daily internal controls to ensure that
      In developing an Operational Risk Management Strategy,                existing risks are mitigated, including making continuous
      the Bank applies the following principles:                            improvements to existing control designs in accordance
      1. Long-term oriented to ensure the Bank’s business                   with process changes.
          continuity, by maintaining the Bank’s risk exposure
          managed in a controlled manner in accordance with                 To ensure effective operational risk management, the
          the Bank’s internal regulations, as well as prevailing            process is carried out in four stages:
          laws and regulations and other stipulations.




                                                                  Operational Risk
                                                                   Identification




                                                                                                  Operational Risk
                               Operational
                                                                                                   Assessment
                              Risk Control /
                                Mitigation




                                                                 Operational Risk
                                                                   Monitoring




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                                                                           TYPES OF RISKS AND ITS MITIGATIONS




 1. Identification – a process to identify potential                      RCSA is a register of key risks and control measures that
    inherent risks to a product/activity/process, taking                  inform risk-based control testing to identify potential
    into account internal and external factors, such as                   weaknesses as early on as possible. The tool allows its
    data of operational risk incidents, regulatory changes,               user to maintain minimum level of residual risks and to
    and audit findings. This stage includes identifying risk              take necessary mitigation measures.
    mitigation and control measures.                                 2.   Loss Event Database (LED)
 2. Assessment, which is the process of evaluating by                     A database of operational risk incidents that are
    considering the potential impact and likelihood of a                  recorded on a risk-based approach with the
    risk can inherently occur. This aims to find out which                aim of being lesson learned, monitoring follow-up
    risks are more material/significant compared to others                remediation and future improvements, and as one of
    to ensure more focused control measures can be                        the components of the calculation of operational risk
    prepared. In addition, an assessment is also carried out              capital (regulatory capital charge) of the Standardized
    on quantitative control through control testing activities            Approach (SA) method.
    to determine whether the control design regulated                3.   Key Indicator (KI)
    in the prevailing regulations at the bank has been                    KI contains key risk indicators (KRIs) and Key Control
    effectively implemented (operating effectiveness) and                 Indicators (KCIs) and serves as an early warning
    or can still be effectively used (design effectiveness).              signal that encourages early control actions to be
    The assessment produces a residual risk value which                   undertaken.
    is the risk value after considering the controls.                4.   Issue & Action Management (IAM)
 3. Monitoring – a proses to monitor risks that have                      IAM is a tool to monitor if known issues are follow-up
    been identified and assessed for their likelihood. Risk               using a range of activities, such as control testing,
    monitoring is carried out at all times in every work unit             incidents, key indicators, and self-identified issues.
    and by its members. The activity follows a hierarchy             5.   Capital Modelling
    and is done collectively, including by the unit’s head,               A tool to calculate regulatory capital charge in
    adhering to the applicable procedures. Monitoring                     accordance to applicable regulations and as part
    activities include the early warning systems in existing              of operational risk mitigation.
    tools/reporting.
 4. Risk Control/Mitigation, which is a process to control           To improve its operational risk management effectiveness,
    and mitigate before a risk event occurs through the              the Bank has developed an integrated Operational Risk
    implementation of adequate and consistent control                Management System that covers all of the tools above.
    procedures, as well as implementing follow-up actions            The system is also implemented in all work units at the
    plans on control weaknesses found (thereby potential             head office and regions.
    risks occur) in the monitoring process and follow-up on
    incidents. The purpose of this process is to ensure that         The output of operational risk management activities is an
    residual risk to the Bank is kept to a minimum. Controls         Operational Risk Profile Report that describes operational
    must be consistently implemented according to                    risk exposure. The report is submitted periodically to the
    existing control designs but must also be continuously           Bank’s Board of Commissioners and Board of Directors,
    reviewed to ensure existing control designs are still            and supports the boards’ active role in operational risk
    effective for mitigation of emerging risks.                      management. The report also informs the Bank’s risk
                                                                     management report to regulators as part of Risk-Based
 Operational Risk Management Tools                                   Bank Rating (RBBR) in accordance with applicable
 To enable work units in implementing operational risk               provisions.
 management, the Bank provides the following risk
 management tools:
 1. Risk & Control Self-Assessment (RCSA)




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      Operational Risk Management Organization                         LEGAL RISK MANAGEMENT
      Operational risk management is carried out by all of the
      Bank’s elements, including the Board of Directors with           Legal risk is a type of risk encountered by Bank Mandiri
      active supervision from the Board of Commissioners. The          as a result of lawsuits, both carried out by internal and
      Boards understand existing risks and have a key role in          external parties and/or the discovery of weaknesses from
      supporting and overseeing risk management activities             juridical aspects, such as the absence of supporting laws
      at the operational unit level.                                   and regulations, weaknesses in engagement such as
                                                                       non-fulfillment of valid contract conditions, or imperfect
      The operational risk management organization and their           binding of collateral.
      duties and responsibilities are:
      1. Risk Management & Credit Policy Committee (RMPC)              The legal risk management organization is carried out by
         RMPC leads the preparation, adjustment/ improvement           the Legal unit at the Head Office by carrying out functions,
         of risk management and credit policies. RMPC’s                duties and responsibilities related to regulatory, advisory,
         membership, duties, and authority are stipulated in           litigation, advocacy and legal assistance, education and
         a Board of Directors’ Decision on RMPC.                       transformation in the legal aspect, as well as the Bank’s
      2. Director Tasked with Risk Management Function                 legal risk management.
         The duties, responsibilities, and authority of the Director
         with Risk Management Function as set out in the Risk          In carrying out these functions, duties and responsibilities,
         Management Policy.                                            the Legal unit at the Head Office coordinates with the
      3. Internal Audit Unit                                           Legal Unit in the Work Unit and in the Region. The Legal
         IAU carries out independent assurance function to             Unit of the Head Office is the supervisor of the system and
         ensure that all operational defense lines are functioning     supervises the Legal Unit in the Work Unit and the Legal
         effectively and properly.                                     Unit in the Region.
      4. Work Unit on Operational Risk Management
         Development (Bankwide/Enterprise)                             Risk management mechanisms that include the process
         A unit that is responsible to formulate and disseminate       of identifying, measuring, controlling and monitoring refer
         policies, strategies, frameworks, and operational risk        to the applicable provisions regarding risk management.
         management tools.                                             Each work unit of the owner and/or product administrator
      5. Operational Risk Management Unit (Senior Operational          or activity operator must identify and manage risks to the
         Risk by Business Area)                                        maximum including but not limited to legal risks that are
         A unit (attached to a business area) that is responsible      basically attached to every product or activity made
         for implementing operational risk management policies,        or carried out by the Company, thereby the inherent
         strategies, frameworks and tools in collaboration with        legal risks do not have a broad impact and trigger the
         the Risk & Control Owner.                                     emergence of other risks including but not limited to
      6. Risk & Control Owner                                          reputational risks.
         A unit that is fully responsible for operational risk
         management and ensuring the effectiveness and                 Bank Mandiri’s preventive and repressive legal risk
         compliance of control measures in every operational           management is sufficient to protect its legal interests and
         activity. A Risk & Control Owner maintains the Bank’s         minimize the significant financial impact on the Bank, as
         operational risk appetite at a level that has been            reflected in the 2023 Legal Risk Profile Report which is at
         identified, thereby allowing the Bank to achieve its          Low rating.
         goals and keep an optimal level of regulatory capital
         charge.




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                                                                           TYPES OF RISKS AND ITS MITIGATIONS




 REPUTATIONAL RISK MANAGEMENT                                         Implementation of Reputational Risk Management
                                                                      One approach to managing reputational risk taken
 Reputational risk arises as a result of declining stakeholder        by the Company is ensuring that all work units perform
 trust due to negative sentiments surrounding the Bank.               their functions well and follow the applicable regulatory
                                                                      provisions. If there is a mistake that potentially affects the
 Reputational risk is managed via monitoring, supervision,            reputational aspect of the main duties and functions of
 handling, and settlement coordinated by the Corporate                a certain work unit, the work unit must provide detailed
 Secretary with support from relevant work units, such                information to the Corporate Secretary Group immediately
 as Customer Care, Legal, Retail Product & Fraud Risk                 so the risk can be managed and its impact minimized.
 Management, IT Application Development & IT Application
 Support, and Business Continuity Management. The                     At present, Bank Mandiri operates internal channels for
 management of reputational risk follows internal provisions          handling complaints and questions from customers, such
 and applicable laws. In its implementation, reputational             as branch offices, Call Center 14000, website, and the
 risk management is done by creating positive images via              Company’s official social media accounts. All complaints
 conventional media and positive content on social media.             and questions are then forwarded to the Customer Care
                                                                      Group to be addressed and resolved. The Customer Care
 The Mechanism for Managing Reputational Risk                         Group manages complaints and questions not only from
 Reputational risk is managed via monitoring, supervision,            internal channels but also from external sources such
 handling, and settlement coordinated by the Corporate                as printed media, online media, electronic media, and
 Secretary Group which follow the provisions of the                   social media.
 Corporate Secretary Standard Guidelines. Based on
 the Guidelines, there are 4 (four) stages of reputational            In doing its duties, the work unit of the Customer Care
 risk management, namely identification, measurement,                 Group coordinates with the Corporate Secretary
 monitoring, and control of risk. The realization of those            Group, especially in handling customer complaints from
 four stages can be seen in each activity performed by                conventional media and social media.
 the Corporate Secretary handling reputational risk, such
 as the Bank’s activity as a public company.                          The Corporate Secretary Group also monitors and
                                                                      evaluates various news items on print, online, and
 Based on that activity, reputational risk in its several forms       electronic media as well as social media periodically
 is evident, such as lateness, errors, and incongruency               to measure the effectiveness of publications and
 in report submission caused by individuals who are not               communications of the Company. Next, the result of the
 aware of or do not understand the principle of disclosure            monitoring and evaluation becomes a reference point
 of information or negligence by supervisors. To mitigate             to which media publications and communications are
 that, the Company may take risk mitigation steps such                made in the next period to strengthen the Company’s
 as providing a list of mandatory information for disclosure          reputation continually.
 and/or encouraging supervisors to check and recheck
 the work.                                                            For that purpose, the Corporate Secretary Group also
                                                                      performs a series of communications activities to bolster
 Should the reputational risk happen and lead to a                    government programs such as the addressing of Job
 negative perception of the Company, an action to                     Creation Law to the public, Sovereign Wealth Fund
 minimize the ruin caused by such reputational risk can               Creation, and the Formation of a Government-Owned
 be taken. One action would be to commission positive                 Sharia Bank. These are executed by inviting editors in
 articles for printed media, online media, or electronic              chief and organizing other gatherings with several media
 media as well as positive content for social media to                groups.
 counter the negative perception that has taken shape.
 These positive articles can be based on business and                 In addition, the Corporate Secretary Group also prepares
 social activities of the Company or the Company’s support            a series of communications activities involving state-
 of government programs per the Corporate Secretary                   owned enterprises to support the National Discount Festival
 Standard Guidelines.



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      TYPES OF RISKS AND ITS MITIGATIONS




      (NDF) that is part of the national program Bangga Buatan       1. Foster prudent credit growth to potential industrial
      Indonesia (BBI). The Corporate Secretary Group manages            sectors in accordance with portfolio guidance by
      schedules and the involvement of each state-owned                 taking into account the potential, capacity, and
      enterprise in the NDF.                                            capability of each segment. In addition, Bank Mandiri
                                                                        also manages the quality of its credit portfolio at the
      All those activities reflect the commitment of the                bank-wide, segment and product levels to achieve
      Corporate Secretary Group to support the strengthening            synergistic growth amidst the challenges of the political
      of the Company’s reputation, especially in the main               year and uncertainty in international economic and
      shareholders’ perspective.                                        geo-political conditions.
                                                                     2. Optimization of Fee Based Income as a driver of
      In the event of a crisis so massive that it erodes the            revenue, among others, through increasing e-channel
      Company’s reputation as well as the trust placed by the           productivity, recurring & transactional fee-based
      Stakeholders, the Company will immediately implement              income, and intensification in the business ecosystem
      an action plan to minimize ruin, for instance formulating         of existing customers and top players in each industry
      problem-solving strategies, determining internal sources,         sector.
      and making a schedule for crisis management and                3. Control of operational costs and investment costs,
      conducting the overall evaluation.                                namely through prioritization programs for the use
                                                                        of costs for OPEX and CAPEX strategic initiatives to
      STRATEGIC RISK MANAGEMENT                                         ensure the added value received by the Bank, utilizing
                                                                        shifting customer behavior through digitalization of
      Strategic Risk Management Organization                            more scalable services and making continuous
      The Bank has formed a Risk Management Committee                   improvements in business processes, as well as focusing
      and a Risk Management Work Unit that aim to support               on increasing resource productivity supported by
      comprehensive, integrated, measured, and controlled risk          employee development programs in line with the
      management. Each committee is supported by a working              company’s spirit in digitizing and evaluating its
      group consisting of groups that are directly involved in the      effectiveness into productivity KPIs.
      risk management issues handled by the said committee.
                                                                     Measures and Plans in Anticipating Strategic Risk
      Strategic Risk Management Mechanism                            In terms of anticipating the risk factors faced by Bank
      The Bank’s risk management is regulated by a bank risk         Mandiri, it is necessary to implement independent and
      management policy per the Bank of Indonesia Regulation         prudent risk management but not limit the Company’s
      (PBI), the Financial Services Authority Regulation (FSAR),     business expansion process. Here are the strategic risk
      Basel provisions, and international best practices. This       management strategies in 2024:
      policy is regularly reviewed to anticipate changes in
      business conditions, regulations, and the Bank’s internal      1. Review strategies regularly (through stress-tests
      conditions.                                                       and sensibility analysis) by considering external
                                                                        and internal factors to ensure the achievement of
      In managing strategic risk, Bank Mandiri always reviews its       leading indicators in terms of revenue and costs for
      performance and evaluates its business target planning            each financial indicator. One example is in order to
      and takes corrective steps in developing a strategic plan         maintain prudent credit expansion, the Bank focuses
      and business targets by considering internal and external         and selectively pays attention to industrial sectors that
      conditions, if necessary.                                         remain recording positive and sustainable growth
                                                                        while considering internal capabilities and resources
      The Implementation of Strategic Risk Management                   in accordance with Bank Mandiri’s Risk Acceptance
      Bank Mandiri’s strategic direction is in line with the            Criteria, monitoring watch lists and high-risk debtors
      Corporate Plan prepared by taking into account the                end to end for better credit management.
      Bank’s core competencies and considering business              2. Regarding industry trends leading to digitalization,
      shifting patterns and people’s behavior that switch to            Bank Mandiri’s Corporate Plan 2020-2024 has a focus
      digital. In the midst of economic uncertainty, Bank Mandiri       on digitalization, namely to become Indonesia’s #1
      also needs to pay attention to profitability and quality          Modern Digital Bank and ensure the progress of IT
      of loan disbursement in order to mitigate future risks. As        projects can perform according to the timeline.
      such, in addition to implementing initiatives according
      to the corporate plan, Bank Mandiri sharpens its business
      strategy with a focus on:



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 CORPORATE                  ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                            RESPONSIBILITY                           Statements 2023




                                                                            TYPES OF RISKS AND ITS MITIGATIONS




 3. Controlling reserve formation (CKPN) by reviewing and              3. Board of Directors/SEVP
    maintaining the Coverage Ratio & Cost of Credit at                    The Board of Directors is responsible to foster and
    an optimal level to anticipate deterioration in credit                realize Compliance Culture as well as to ensure that
    quality that has an impact on the Bank’s performance.                 Compliance Function is implemented at all levels of
 4. The Bank focuses on maintaining and fostering                         the organization and the Bank’s business activities.
    sustainable CASA Ratio and CASA volume                             4. Director in Charge of Compliance Function
    improvement to support credit expansion, by:                          The Director in charge of the Compliance Function
    a. Optimizing the use of Kopra by Mandiri through                     is responsible for formulating compliance culture
        the main operating account strategy (Kopra Portal                 strategies, minimizing compliance risk, establishing
        and Kopra H2H) in capturing the entire customer                   compliance systems and procedures, and ensuring
        transaction ecosystem.                                            that all policies, provisions, systems, and procedures
    b. Maintaining Cost of Fund (CoF) realization while                   implemented by the Bank are in accordance with
        paying attention to liquidity, maintaining current                applicable laws and regulations.
        account growth through transactional solutions for             5. Compliance Unit (i.e., Compliance & AML-CFT Group)
        Business and Corporate customers, and increasing                  The Compliance Unit assists and/or represents the
        savings market share through Livin’ as an everyday                Director in charge of the Compliance Function in
        financial app.                                                    carrying out its duties and responsibilities.
 5. Capital growth derived from retained earnings (Tier-1)             6. Heads of Units
    through optimization of revenue and overhead costs,                   Heads of Units are responsible for realizing compliance
    as well as a more in-depth assessment of initiatives that             culture in their respective units, managing compliance
    have an impact on increasing productivity, providing                  risk, and implementing system/process and/or
    added value, and are long-term.                                       procedure improvements related to compliance
                                                                          issues in their units.
 COMPLIANCE RISK MANAGEMENT
                                                                       Compliance Risk Management Mechanism
 Compliance arises as a result of the Bank’s failure to                Bank Mandiri has established compliance risk management
 comply with and/or to carry out the provisions of the                 policies and procedures based on the applicable rules
 applicable laws and regulations.                                      and regulations, where the risk is managed in several
                                                                       stages:
 To manage compliance risk, Bank Mandiri has established               1. Identification
 policies, rules, systems, and procedures to build                         Identification of compliance risk is articulated in
 compliance culture as one of the keys to successful                       the Compliance Risk Statement (CRS). CRS entails
 compliance risk management at Bank, consolidated,                         reference of regulations, risk cause, risk control, and
 and Financial Conglomerates levels.                                       action plans for prevention purpose.
                                                                       2. Evaluation
 All levels of the Company are fully responsible for                       All identified risks are assessed by each risk owner. The
 implementing compliance in each of their respective                       output of assessment is a compliance risk profile for
 activities. The organization, duties, and responsibilities with           every work unit. Risk assessment is carried out based
 respect to compliance are as follows:                                     on the risk’s occurrence likelihood and its potential
 1. Board of Commissioners                                                 impacts. Risk owners also assess the effectiveness of
     With respect to Compliance and Integrated                             control measures.
     Governance, the Board of Commissioners is mandated
     to supervise the implementation of Compliance
     Function.
 2. Integrated Governance Committee
     The committee is established to assist the Board of
     Commissioners in carrying out its supervisory function
     on the implementation of Integrated Governance
     and Integrated Compliance Functions at Bank Mandiri
     and its Subsidiaries.




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      TYPES OF RISKS AND ITS MITIGATIONS




      3. Monitoring                                                      c. Compliance Assessment Program
         Risk monitoring is part of an adequate compliance risk             This program aims to increase compliance risk
         management. Monitoring activities include identifying              awareness of the risk owners on applicable
         and overseeing compliance risk appetite statement                  compliance and regulation risks (according to
         (RAS).                                                             their duties and responsibilities).
      4. Mitigation                                                      d. Compliance Unit Competency Improvement
         Compliance risk mitigation is carried out by:                      Program
         a. Reviewing risk identification process to ensure the             To increase understanding related to compliance
             process has been carried out appropriately.                    risk management, the Company partners with
         b. Reviewing the appropriateness of control and                    an independent party to organize compliance
             mitigation activities.                                         training and certification for all Compliance Unit
         c. Reviewing the appropriateness of compliance risk                personnel.
             assessment process, including that the process has
             considered historical sanction data.                     Measures and Plans to Anticipate Compliance Risk
                                                                      To improve compliance risk management, the following
      Compliance Risk Management Implementation                       measures are taken:
      Compliance risk management activities in 2023 were as           1. Compliance Risk Management
      follows:                                                            a. Define compliance Risk Appetite Statement (RAS)
      1. Defining Risk Appetite Statement (RAS)                                and monitor sanctions/fines to ensure the appetite
           In 2023, Bank Mandiri defined its compliance Risk                   that has been set out are under control.
           Appetite Statement (RAS) at 4 (four) violations per            b. Improve compliance risk assessment parameters.
           month. Throughout the year, the Bank received 2 (two)          c. Improve reporting process on compliance function.
           sanction per month, which was well below the RAS           2. 2. Improvement of compliance risk awareness
           threshold.                                                     a. Conduct compliance assessment to improve
      2. Compliance Risk Assessment                                            employee understanding of the prevailing rules
           Compliance risk assessment is carried out on a quarterly            and regulations, particularly those related to duties
           and semi-annual basis and submitted to the OJK as                   and responsibilities.
           part of the Bank’s Risk Profile Report. According to           b. Provide advice on compliance issues.
           the self-assessment conducted in Quarter IV 2023, the      3. Strengthening monitoring on regulatory mandate
           Bank’s compliance risk level was 2 (low to moderate).          fulfillment
           Several issues of concern for improvement were                 a. Disseminate information on the issuance of laws
           employees’ compliance risk awareness, data quality,                 and regulations, or other policies or the results of
           and monitoring of report submission to regulators.                  legal analysis to the Bank’s management and
      3. Compliance Risk Mitigation                                            employees.
           To mitigate compliance risk, the Bank has implemented          b. Monitoring the work units’ action plans relating
           several compliance programs:                                        to new regulations that have significant impacts.
           a. Monitoring the Fulfillment of the Banks’ Obligations    4. Competency Building for Compliance Unit
               on New Regulations                                         To improve the quality of personnel in Compliance
               The Compliance Unit conducts Prudential Meetings           Unit, the Bank collaborates with independent parties
               on new regulations, monitors action plans that             to organize training and certification of compliance.
               need to be carried out, and issues reminders on        5. Credit Webinars
               regulatory obligations to the relevant Units.              A credit webinar is a discussion forum that is jointly held
           b. Control Testing Against High-Risk Activities                with Business Unit and Risk Unit to enhance compliance
               Control testing is carried out by the Senior               risk awareness in the credit area.
               Operational Risk Unit on high-risk activities.
               Where discrepancy with applicable regulations is
               identified, immediate actions are taken to prevent
               the Bank from suffering any losses.



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 CORPORATE                   ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                             RESPONSIBILITY                          Statements 2023




                                                                              TYPES OF RISKS AND ITS MITIGATIONS




 INTRA-GROUP TRANSACTION RISK MANAGEMENT                                 Bank Mandiri can combine qualitative and quantitative
                                                                         approaches in the process of measuring insurance risk
 The risk management of intragroup transaction risk is at                which will then be subject to periodic risk monitoring in
 the level of the Group with Subsidiaries per the business               accordance with the established procedures.
 strategies of Bank Mandiri. Bank Mandiri identifies and
 analyses the activities that may increase exposures to                  Self-assessment of Integrated Insurance Risk Profile
 Intragroup Transaction Risk and affect the Company’s                    throughout 2023 was at a Low to Moderate level. This
 performance. This risk identification is at the business activity       reflects low potential loss faced by Financial Conglomerates
 and Subsidiary levels of Bank Mandiri by considering the                due to Integrated Insurance Risk at a certain time in the
 complexity of transactions. Bank Mandiri may combine                    future. The quality of the implementation of the Integrated
 qualitative and quantitative methods to measure the                     Management of Insurance Risk is adequate, there are
 Intragroup Transaction Risk for further periodic monitoring             some weaknesses but these weaknesses can be resolved
 according to established procedures.                                    in the normal course of business.

 INSURANCE RISK MANAGEMENT

 Insurance risk is a risk due to the failure of insurance
 companies to fulfill obligations to policyholders as a
 result of insufficient risk selection (underwriting) processes,
 pricing, reinsurance use, and/or claim handling. Insurance
 Risk Management is carried out by Subsidiaries of the Bank
 Mandiri business group that are engaged in the insurance
 business, in this case include AXA Mandiri Financial
 Services, Mandiri AXA General Insurance, and Mandiri
 Inhealth. Bank Mandiri identifies and analyzes activities
 that can increase insurance risk exposure and affect the
 company performance. The risk identification is carried
 out in the business activities of Subsidiaries engaged in
 the insurance business by considering its characteristics.




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            HIGHLIGHTS                     Report                            Profile                             AND ANALYSIS




      TYPES OF RISKS AND ITS MITIGATIONS




      ESG RISK MANAGEMENT                                                Bank Mandiri establishes risk appetite and industry appetite
                                                                         in line with ESG issues in the Bank’s policies as outlined in the
      ESG Risk Management Coverage                                       Industry Acceptance Criteria (IAC) technical guidelines in
      Alignment of ESG aspects is also one of Bank Mandiri’s             Internal Regulation No.B3.P1.T16.IAC. Details of businesses
      priorities in long-term business transformation. Through the       covered is presented in the Sustainable Banking section
      stream “Conduct Sustainable Business”, Bank Mandiri has            of this report.
      developed ESG frameworks, roadmaps and initiatives with
      a target focus on the transition to a low-carbon economy,          The Business Unit conducts due diligence, if necessary, on
      emission reduction and net zero in bank operations and             prospective debtors to explore issues related to Escalation
      increasing social impact in achieving SDGs targets.                submitted by the Business Unit to the holder of the authority
                                                                         to approve credit, where this function is carried out by the
      To achieve this target, particularly in fostering the transition   Senior VP to the Board of Directors. Lending decisions are
      to a low-carbon economy, Bank Mandiri continues to                 made by the Business Unit and Credit Risk Management
      identify, measure and evaluate ESG risks including climate         Unit independently with a four-eyes-principles process.
      risks, specifically in the financing aspect.
                                                                         The Bank periodically reviews and refines general credit
      The ESG risk management system in the loan process                 policies, credit procedures per business segment and risk
      includes Bank Mandiri’s loan services for the wholesale and        management tools, particularly sectors with high ESG and
      retail segments. Bank Mandiri establishes and applies the          climate risks. Each Business Unit conducts a more detailed
      Technical Guidelines for Environmental and Social Analysis         and in-depth assessment of each business activity to
      in Lending which is used as a reference in conducting              determine related ESG requirements in IAC and RAC,
      environmental analysis in lending analysis.                        including based on input and involvement from regulators
                                                                         and resource persons.
      This is in line with the efforts made by the Financial Services
      Authority (OJK) regarding the Asset Quality Assessment of          Bank Mandiri analyzes the performance of sectoral
      Commercial Banks, which regulates that the assessment              portfolios, using sensitivity analysis which results are
      of the debtor’s business prospects is also associated with         presented at the Board of Directors Forum and used as
      the debtor’s efforts in maintaining the environment.               guidelines in internal business decision making.

      ESG Risk Management System                                         ESG Risk Surveillance
       ESG risk assessment on loan is carried out at each                The ESG Risk Management framework and governance
      stage of loan disbursement end-to-end and integrated               at Bank Mandiri involves the active role of the Board of
      by the Business Unit, Credit Operation Unit and Credit             Commissioners and the Board of Directors. The Board of
      Risk Management Unit. Each Business Unit conducts an               Directors monitors the implementation and fulfillment
      assessment based on the Portfolio Guideline then carries           of ESG targets through the Risk Management & Credit
      out a pre-approval process using credit risk tools including       Policy Committee (RMPC) forum, in accordance with
      the application of ESG aspects, for the wholesale segment          the duties & authorities stipulated in the Decree of the
      is stipulated in the Industry Acceptance Criteria (IAC)            Board of Directors of PT Bank Mandiri (Persero) Tbk, No.
      while for the retail segment, the assessment is carried out        KEP.Dir/009/2021 on Risk Management & Credit Policy
      through a credit risk scorecard, with reference to the Risk        Committee, held quarterly with the topic of Sustainable
      Acceptance Criteria of each product.                               Finance Action Plan (RAKB) performance, ESG trends, to
                                                                         discussion of critical issues in ESG aspects.




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 CORPORATE                  ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                            RESPONSIBILITY                           Statements 2023




                                                                            TYPES OF RISKS AND ITS MITIGATIONS




 Furthermore, the Board of Commissioners supervises ESG                Bank Mandiri manages climate-related financial risks,
 implementation, fulfillment of ESG targets or commitments             starting from risk identification and risk management
 through the Risk Monitoring Committee (KPR) forum,                    framework, including conducting scenario analysis.
 which is held quarterly with topics such as reviewing                 The results of the climate risk analysis become inputs to
 the effectiveness of ESG-related risk management and                  increase the Bank’s resilience to the impacts of climate risk
 supervision in financing activities.                                  and strengthen through various initiatives and alignment
                                                                       of ESG aspects in internal business processes. The impact
 Bank Mandiri monitors compliance in lending to ESG                    of climate change on Bank Mandiri’s sustainability based
 aspects in accordance with bank policy, with the following            on the risk period is as follows:
 measures:                                                             1. In the short term (next 1-2 years). Climate change can
 1. Periodically monitor the fulfillment of ESG requirements.              have a risk impact on Bank Mandiri’s financing through
    Bank Mandiri reviews regularly to ensure that the                      the potential impact of changes in government policy,
    progress of customer projects is in accordance with the                inappropriate technological developments, and shifts
    action plan that has been set. To ensure compliance                    in consumer and investor preferences, resulting in
    with lending policies and procedures, Bank Mandiri also                a decarbonization transition that affects borrower
    conducts periodic reviews and audits conducted by                      profitability, cash flow, and asset value.
    the Internal Audit Unit. For debtors who have not been             2. In the medium (5-10 years) and long term. Severe
    able to meet these minimum requirements, there will                    and prolonged climate impacts can threaten the
    be a periodic monitoring mechanism, determination                      environment, such as floods, landslides, heat waves,
    of action plans and schedules needed.                                  food crises and other natural disasters.
 2. Implement the ALERT system (watchlist) as an early
    warning system to identify risks that can affect the               Climate Risk Mitigation
    debtor’s credit quality to ensure that preventive                  Bank Mandiri is committed to managing its business
    actions can be taken immediately to prevent credit                 and operations by prioritizing ESG principles to become
    quality deterioration based on financial performance,              “Indonesia’s Sustainability Champion for Better Future”.
    industry prospects, and fulfillment of ESG requirements.           This commitment is Bank Mandiri’s response in supporting
 3. Conduct an annual review as a form of check and                    the Government’s aspirations towards a low-carbon
    balance compliance with the latest internal credit                 economy.
    policy requirements, including ESG requirements.
                                                                       In sectors that have high climate risk such as plantations,
 CLIMATE RISKS                                                         mining and energy, Bank Mandiri conducts intensive
 Climate risk is an emerging risk embedded in key financial            monitoring in fulfilling the ESG aspects that have been
 risks, such as credit risk, market risk, and operational risk.        required by the Bank. Going forward, Bank Mandiri strives
 Bank Mandiri has assessed key financial risk accordingly              to conduct more comprehensive climate risk impact
 and has considered ESG aspects in it. Climate risk is also            measurements, such as conducting climate scenario
 embedded in every other type of risk managed by the                   analysis and testing credit portfolios for customers against
 Bank, including credit risk, liquidity risk, market risk and          climate risks including transition and physical risk.
 operational risk, enabling Bank Mandiri to carry out a
 comprehensive risk management process in accordance
 with existing procedures including climate risk.

 Bank Mandiri has conducted an Initial Phase Climate
 Risk Stress Test for credit, market, and operational risks in
 accordance with OJK guidelines. On credit risk, credit
 portfolios that are potentially vulnerable to floods and
 forest fires have been identified; and sectoral portfolios
 that are characteristically classified as high emission sectors
 and are affected by government policies to control
 climate risk. For market risk, the Bank identifies market value
 movements in the Bank’s securities portfolio which are
 included in the high emission sector category as a result
 of changes in government policy for carbon emissions.



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      TYPES OF RISKS AND ITS MITIGATIONS




                                    Climate-related Risks                                                            Mitigation

      Rising prices of raw materials and/or commodities due to climate change,         •   Conduct stress tests and create watchlists to be monitored
      weather problems, or crop failure                                                    regularly in analyzing customers affected by related issues.


      The risk of energy transition in countries that still rely on coal as the main   •   Bank Mandiri adjusts its lending policy to the energy sector that
      energy source such as in Indonesia                                                   uses coal in accordance with the Government's energy transition
                                                                                           plan, namely no financing for the coal sector starting in 2040.
                                                                                       •   Implementation of Business Continuity Plan and establishing
      Acute physical risk caused by extreme climate change, such as floods,                data centers in several different places to mitigate disruption of
      landslides and haze due to forest fires.                                             customer convenience in transactions and protect the risk of
                                                                                           data loss due to hydrometeorological disasters.
                                                                                       •   Implementation of BCM according to international standards
                                                                                           based on ISO 22301: 2019 to realize a resilient organization from
                                                                                           potential internal and external threats through the readiness of
                                                                                           BETH13 components (Building, Equipment, Technology, Human
                                                                                           Resource & 3rd Parties).
                                                                                       •   BCM also interacts with climate institutions such as the
                                                                                           Meteorology, Climatology and Geophysics Agency (BMKG), in
                                                                                           order to identify early and be able to carry out early action plans
                                                                                           and socialize to all Mandirian.




                               Climate-related opportunities                                                         Response

      Investment in technologies for new renewable energy is on the rise.              Bank Mandiri builds internal capabilities to assist the transition to
      According to records from the Ministry of Energy and Mineral Resources,          green energy in the sector. As of December 2022, Bank Mandiri has
      in 2021, the use of renewable energy reached 11.5% of the total national         financed 10 renewable energy projects
      energy.


      Governance Bodies’ Involvement on Climate Risk                                   4. build the collaboration and partnership needed
      Coordination of ESG-related aspects, including climate                              to accelerate the Company’s progress towards
      risk, at Bank Mandiri is carried out by ESG Group under the                         achieving SDGs and climate targets.
      Vice President Director who is authorized to manage the
      framework, alignment of provisions in line with ESG and                          The Board of Directors in this case is assisted by the Risk
      climate change issues, sustainable portfolio management,                         Management and Policy Committee (RMPC). The forum
      and responsible operational strategies of the Bank,                              with Risk Management and Credit Policy Committee
      including communication and reporting functions to                               (RMPC) is held quarterly on the topic of Sustainable
      external and internal parties. Reports from the ESG Unit                         Finance Action Plan (RAKB) performance, ESG trends,
      are then regularly forwarded to the Board of Directors                           including discussion of critical issues in ESG aspects.
      as needed and to the Board of Commissioners with a
      frequency of at least 4 times per year.                                          The Company’s Board of Commissioners takes an
                                                                                       important role in managing ESG and climate aspects,
      In the implementation of ESG and climate management,                             particularly to ensure the integration of ESG and climate
      the Board of Directors takes a role in strategic functions, to:                  aspects in Bank Mandiri’s long-term goals, including
      1. integrate ESG aspects bank-wide, establish the direction                      fostering efforts beyond compliance and adoption of
           of Bank Mandiri’s Sustainable Finance (Sustainability)                      best practices, and overseeing the management of risks
           which includes Framework, Commitment, Strategy,                             and opportunities related to sustainability and climate.
           Initiatives, Roadmap related to climate targets and                         To carry out this task, the Board of Commissioners is
           SDGs achievement;                                                           supported by the Risk Oversight Committee (ROC). The
      2. carry out supervisory functions related to ESG and                            Risk Oversight Committee (ROC) forum is held quarterly
           climate risks and opportunities, implementation of                          including discussing the effectiveness of ESG-related risk
           Sustainable Finance, fulfillment of appropriate ESG                         management and supervision in financing activities.
           targets and initiatives;
      3. accountable in ensuring the achievement of
           sustainability aspirations to stakeholders; and




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GOVERNANCE
 GOVERNANCE                 & PRACTICES                           RESPONSIBILITY                            Statements 2023




                                                                           TYPES OF RISKS AND ITS MITIGATIONS




 The functions and obligations of the Board of Directors              climate risk. For market risk, the Bank identifies market value
 and in the implementation of Bank Mandiri’s sustainable              movements in the Bank’s securities portfolio which are
 finance are stipulated in Board of Directors Decree                  included in the high emission sector category as a result
 No. KEP.DIR/009/2021 dated 13 January 2021 on Risk                   of changes in government policy for carbon emissions.
 Management & Credit Policy Committee and Decree of
 the Board of Commissioners No. KEP.KOM/007/2022 dated                We analyze drought/forest fire/flood climate risk events
 18 November 2022 on the Risk Monitoring Committee                    to Bank Mandiri’s operations and property which, based
 Charter. The specific organ, ESG Group, was established              on the study, have the potential to cause damage and
 in accordance with the Decree of the Board of Directors              loss to the Bank’s technology system and property, as
 of KEP.DIR/32/2022 dated 12 September 2022.                          well as disruption to employee mobility and health. In
                                                                      this scenario, the Bank already has a Disaster Recovery
 Climate Risk Resilience                                              Plan mitigation plan that includes a contingency plan for
 In the reporting period, Bank Mandiri has conducted a                catastrophic events.
 climate risk resilience assessment based on OJK Letter No.
 S-16/PB.013/2023 which requires KBMI 3 & 4 banks to assess           Bank Mandiri will continue to develop climate risk stress
 climate risk in the portfolio. In the study, climate-related         testing in accordance with regulatory directives and the
 risks were compared with qualitative initial assessments             Bank’s needs in planning climate risk management in the
 associated with credit risk, market risk, and operational risk       Company’s portfolio. In accordance with technological
 to physical risk events, namely flooding for residential and         advances, going forward it is necessary to develop
 commercial property collateralized loan portfolios and               specific models and analytics used in quantifying climate
 drought/forest fire risk events for portfolios to corporations       and environmental impacts, more detailed current data
 and MSMEs for the forestry and plantation sectors.                   and information, scenarios and assumptions according
                                                                      to the direction of regulators.
 The assessment provides an overview of potential losses
 that will occur and their impact on credit, market,
 operational and capital risks of the Bank. For transition
 risk, an assessment was conducted on the portfolio of
 several high emission sectors by looking at the projected
 impact of increased carbon emissions and changes in
 government policy on credit risk, market risk, operational
 risk and the Bank’s capital. The transition scenario uses
 the NGFS scenario according to OJK guidelines, namely
 Net Zero 2050, Delayed Transition and Current Policies.

 In credit risk, portfolios that are potentially vulnerable
 to floods and forest fires have been identified as well
 as sectoral portfolios that are classified as high emission
 sectors and affected by government policies to control




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             HIGHLIGHTS                      Report                         Profile                         AND ANALYSIS




      RISK ASSESSMENT OF THE BANK




      To have a better and thorough understanding of the risks, the Bank conducts a self-assessment of the Bank Soundness
      Rating (BSR), which is reported to the Regulator every semester or 6 (six) months, and a Risk Profile Report (RPR), which
      is generated quarterly or every 3 (three) months. The self-assessment of Bank soundness level complies with POJK No.
      4/POJK.03/2016 and SEOJK No. 14/SEOJK.03/2017 on Assessment of Bank Soundness Rating, which includes Risk Profile
      Assessment (including Inherent Risk and Quality of Risk Management Implementation), Rentability, Governance,
      and Capital. Credit Risk, Market Risk, Liquidity Risk, Operational Risk, Legal Risk, Strategic Risk, Reputational Risk, and
      Compliance Risk are all assessed as part of the Risk Profile Assessment. There are two additional risks for Integrated Risk
      Profiling assessment: Insurance Risk and Intra-Group Transaction Risk.

      The self-assessment results of Bank Mandiri’s Risk Profile individually positioned as of Desember 2023 were rated 2 (Low to
      Moderate) with an Inherent Risk Rating of Low to Moderate and a Quality Rating of Risk Management Implementation
      (KPMR)of Satisfactory, with the following details:

                   Types of Risks                 Inherent Risk Rating            KPMR Stage              Risk Level Rating
      Credit Risk                      Low to Moderate                   Satisfactory          Low to Moderate
      Market Risk                      Low                               Strong                Low
      Liquidity Risk                   Low to Moderate                   Strong                Low
      Operational Risk                 Moderate                          Fair                  Moderate
      Legal Risk                       Low                               Strong                Low
      Strategic Risk                   Low                               Satisfactory          Low
      Compliance Risk                  Low to Moderate                   Satisfactory          Low to Moderate
      Reputational Risk                Low                               Satisfactory          Low
      Composite Rating                 Low to Moderate                   Satisfactory          Low to Moderate


      Note: The results of Bank Mandiri›s individual Risk Profile Self-Assessment position on 31 December 2023 are not yet
      available because they are in the assessment process, where the due date of submission to OJK is 21 January 2024.




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              REVIEW OF RISK MANAGEMENT SYSTEM
                                  EFFECTIVENESS



 The assessment of Bank Mandiri’s Risk Profile at the individual or Consolidated/Integrated level throughout 2023 reflected
 that the risks faced by Bank Mandiri at both levels can be managed well so that further business development can be
 ensured. In other words, Risk Management was finely and effectively executed by Bank Mandiri.

 Statements from the Board of Directors and/or the Board of Commissioners or
 the Audit Committee on the Adequacy of Risk Management System
 Bank Mandiri›s internal control system is deemed effective and adequate, as demonstrated by the effectiveness of
 the implementation of internal control functions such as internal audit, risk management, compliance, financial, and
 operational control.




           RISK MANAGEMENT ACTIVITY REPORT IN
                                        2023


 In relation to the assessment of TKB and LPR individually, during 2023, Bank Mandiri has compiled and reported as follows:
 1. The Bank’s Soundness Rating uses an Individual Risk Based Bank Rating (RBBR) approach, which includes an
      assessment of its Risk Profile, Governance, Earnings and Capital. During 2023, the Bank has reported Bank Mandiri’s
      Soundness Rating individually for the reporting period for the second semester of 2022 and first semester of 2023 to
      the regulator in a timely manner.
 2. Individual Risk Profile which includes the management of 8 types of risk (Credit, Market, Liquidity, Operational,
      Legal, Strategic, Compliance, and Reputational Risk). During 2023, Bank Mandiri has reported the results of the self-
      assessment of the Individual Risk Profile for the reporting period of the fourth quarter of 2022 and the first, second,
      third quarters of 2023 to the regulator in a timely manner.




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            HIGHLIGHTS                   Report                          Profile                            AND ANALYSIS




      WORST-CASE SCENARIO SIMULATION
      AND STRESS TESTING



      To assess Bank Mandiri’s perseverance in the face of            In addition to conducting a stress test at the Bank at the
      plausible exceptional external events, Bank Mandiri             individual level, a stress test at the level of Mandiri Group
      performs a stress test to make a contingency plan and           along with its subsidiaries was also performed. The stress
      satisfy regulatory requirements in Indonesia. To Bank           testing for the Mandiri Group was one of the ways to
      Mandiri, a stress test aims to estimate potential losses the    communicate integrated risk management, whose result
      Bank can sustain and the Bank’s capital sufficiency to          was presented to the management of Bank Mandiri, the
      absorb these losses, determine the adequate liquidity to        management of Subsidiaries, and regulators for feedback
      fulfil contractual or behavioral obligations of the Bank as     and insights regarding corporate risk management
      well as identify the necessary steps to mitigate risks and      strategies in case of an economic collapse. The scenario
      maintain capital sufficiency.                                   of Stress testing takes into account current economic
                                                                      conditions, including the global and domestic economic
      There are 2 (two) types of stress testing at Bank Mandiri,      challenges in 2023 due to increase of Inflation and
      namely sensitivity/shock analysis and scenario analysis         interest rates, the potential of stagflation and recession
      (historical or hypothetical). The execution of a stress test    in developed countries, as well as the escalation of the
      covers the analysis of main risks such as credit risk, market   geopolitical tension.
      risk, and liquidity risk whose calculation uses a statistical
      or a financial model developed by the Bank in line with
      the best practices in the industry, for instance, a model
      and a stress test that compares changes affecting the
      credit risk to macroeconomic factors.

      In general, the result of stress testing throughout 2023
      indicated that Bank Mandiri was remained capable
      of maintaining its capital sufficiency and liquidity by
      making immediate anticipation of assets and liabilities
      management and preparing policies and systems.




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                                                                                RECOVERY PLAN




 Based on the size of assets, liabilities, and capital, the level of product complexity, and the connection to the banking
 system, the FSA has determined that Bank Mandiri is a Domestic Systematically Important Bank.

 As a Systemic Bank, Bank Mandiri prepares a Recovery Plan and Recovery Options to prevent, restore, or remedy the
 Bank’s financial conditions and business continuity in the event of financial stress, as regulated in OJK Regulation No.
 14/POJK.03/2017 on a Recovery Plan for Systemic Banks.

 This Recovery Plan consists of a whole-entity analysis of the Bank’s and its Subsidiaries’ business lines, including crises (stress
 testing) that may happen to the Bank unexpectedly or a market-wide shock that may endanger the Bank’s business
 (point of non-viability). As regulated by the OJK Regulation on Recovery Plan, the first Recovery Plan of Bank Mandiri
 has been approved by the shareholders on March 21, 2018, The Bank Mandiri’s Update of Recovery Plan for 2023-2024
 has been submitted to Financial Services Authority in November 2023.

 In June 2023, Bank Mandiri has issued Subordinated Medium-Term Notes (MTN) II that substitute Subordinate MTN I that
 has been matured in July 2023. MTN Subordinated II has been approved by OJK through Letter SR-51/PB.21/2023 dated
 20 July 2023 concerning response to publication results Subordinate MTN II 2023 and request for determination of debt
 instrument that will be acknowledged as a Supplemental Capital (Tier 2) Component for Recovery Plan PT Bank Mandiri
 (Persero), Tbk.




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            HIGHLIGHTS                  Report                            Profile                         AND ANALYSIS




      RESOLUTION PLAN




      In addition to the preparation of the Action Plan, in 2022 Bank Mandiri has also prepared a Resolution Plan for the first
      time and submitted it to the Deposit Insurance Corporation as the resolution authority in Indonesia. Provisions for the
      preparation of an Action Plan for Systemic Banks and a Resolution Plan for handling Bank solvency problems are Law
      No. 4 year 2023 on Financial Sector Development and Strengthening.

      The Resolution Plan will be used by the LPS if the recovery efforts in the Action Plan are unable to restore the Bank’s
      condition to meet the minimum regulatory requirements, resulting in its status becoming a Failed Bank. Thus, the Resolution
      Plan contains information about the Bank that is in line with the Action Plan which is complemented by an analysis
      of resolution options and potential obstacles to the implementation of resolution options, as well as communication
      strategies before handling the Bank’s solvency problems by the resolution authority.

      After the first submission, the Bank is obliged to update the Resolution Plan document and submit the updated results
      to the resolution authority every 2 (two) years. The obligation to prepare a Resolution Plan for Systemic Banks and for
      Non-Systemic Banks appointed by the resolution authority is regulated in LPS Regulation No. 1 of 2021 concerning
      Resolution Plans for Commercial Banks.




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                               RISK HANDLING POST PANDEMIC




 1. Restructuring Debtors affected by COVID-19                          there is a potential risk of increasing collectibility loans
    The occurrence of the Covid-19 pandemic has greatly                 2 and Non-Performing Loans (NPL) which have the
    impacted the national economy. With the Covid-19                    potential to cause a significant increase in CKPN.
    pandemic and the implementation of restrictions                     As such, in an effort to apply the Bank’s prudential
    on business activities, many corporate debtors                      principle and anticipate an increase in credit risk
    experienced a decline in sales and profits, resulting               related to the loan restructuring of debtors impacted
    in cash flow and liquidity difficulties. Moreover, many             by COVID-19, the Bank established a larger CKPN
    individual debtors experience termination. As a result,             (CKPN Build Up) in line with the assessment of the
    debtors have decreased their ability to meet financial              debtor’s credit risk level during the relaxation period
    obligations to banks and other creditors, hence it is               in anticipation of deterioration in credit quality.
    necessary to restructure debtors impacted by the
    Covid-19.                                                       3. Post-Covid-19 Restructuring Preparations and Limited
                                                                       Relaxation Program Implementation
    To handling these risks and in order to support the                Align with the increasingly controlled Covid-19
    government’s efforts to maintain economic stability,               pandemic, economic developments also indicate
    the Bank actively takes a role in providing credit                 an increasingly solid recovery direction. The status of
    restructuring for debtors impacted by the Covid-19.                Covid-19 as a pandemic is likely to transition into an
    In Q2 2021, the Bank has provided a Restructuring of               endemic, hence it will greatly foster increased mobility
    Debtors Impacted by the Covid-19 of Rp96.5 trillion.               and business activities, and will continue to improve
    The implementation of restructuring is regulated in the            overall economic conditions.
    national economic stimulus implementation policy
    in line with the dynamics of policies and regulations               In this regard, as well as in implementing POJK No.
    issued by regulators.                                               17/POJK.03/2021 in an orderly manner, the Bank
                                                                        has assessed debtors who are able to continue to
    The policy has regulated the criteria for debtors                   survive the Covid-19 pandemic and still have business
    and business sectors impacted by Covid-19 that                      prospects.
    can be restructured, with reference to POJK No. 11/                 a. In the event that the debtor is considered to
    POJK.03/2020 and its amendments, POJK No. 48/                           have improved and has returned to meet its
    POJK.03/2020 and POJK No. 17/POJK.03/2021 and                           financial obligations, the Bank lifts the Covid-19
    other internal Bank provisions.                                         restructuring flag (in accordance with OJK Letter
                                                                            No. S-19/D.03/2021) on which the debtor has
 2. Establishment of Allowance for Impairment Losses                        improved and meets the criteria.
    (CKPN) for Debtors impacted by COVID-19                             b. In the event that the debtor is considered still
    Based on POJK No. 11/POJK.03/2020 and its                               able to survive, but still requires restructuring, the
    amendments, POJK No. 17/POJK.03/2021, the                               Bank may extend the restructuring scheme in
    asset quality of debtors that receive relaxation or                     accordance with the debtor’s business conditions.
    restructuring affected by Covid-19 will remain efficient            c. In the event that the debtor is considered no
    since the restructuring is carried out. In addition, OJK                longer able to survive, the Bank prepares an
    through Letter No. S-7/D.03/2020 provided stimulus                      action plan for debtors who have the potential to
    to banks by stating that debtors with restructuring                     downgrade to NPL, among others, by preparing a
    schemes due to the Covid-19 pandemic can be                             normal restructuring scheme (exclude POJK No.17/
    categorized as being at stage 1 in the calculation of                   POJK.03/2021) as an effort by the Bank to recover
    CKPN based on PSAK 71.                                                  the debtor’s business.
                                                                        d. In the event that the debtor is considered no
    However, there is a potential for collectibility 1 credit               longer able to survive, the Bank will form reserves in
    quality provided to debtors and the formation of CKPN                   accordance with the debtor’s business conditions.
    based on stage 1 categories does not fully reflect the                  Most of the Covid-19 Restructuring portfolio has
    real condition of debtors. After the relaxation ends,                   completed its grace period and debtors have



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            HIGHLIGHTS                   Report                          Profile                         AND ANALYSIS




      RESOLUTION PLAN




             started making payments. As such, the Bank                  2023. Most of the debtors have fulfilled their credit
             believes that it will be able to properly navigate          payment obligations in line with the improvement
             the Covid-19 pandemic, without a hike in credit             of debtors’ business conditions during this endemic
             quality deterioration or cliff effect.                      period. In connection with the expiration of POJK No.
                                                                         17/POJK.03/2021 on 31 March 2023, as well as the
         To accommodate the transition process and anticipate            evaluation of debtors’ business development, the Bank
         the impact of natural and non-natural disasters                 also plans to no longer provide CKPN for Build Up VAT.
         (including the spread of viruses) that cause a significant
         decrease in credit quality, the Financial Services              On a bank-wide basis, as of October 2023, NPL% was
         Authority enforces POJK No. 19 of 2022 concerning               1.15% and NPL Coverage was adequate at 379%. This
         Special Treatment for Financial Service Institutions in         figure is projected to be maintained until the end of
         Certain Regions and Sectors in Indonesia Affected by            2023. Considering these conditions, the Bank is quite
         Disasters, followed by OJK Board of Commissioners               confident that it has managed this portfolio well and
         Decree No. 34/KDK.03/2022 dated 25 November 2022.               achieved a soft landing, and the end of the limited
                                                                         relaxation of OJK KDK No. 34/KDK.03/2022 on 31 March
         OJK as the regulator considers that although the                2024 will not cause a significant increase.
         Indonesian economy has shown improvement from the
         impact of the Covid-19 pandemic, there are several           5. Post Covid-19 Pandemic Credit Monitoring
         regions and sectors that require longer time to recover         In addressing the post-pandemic, the Bank continues
         after the end of national economic stimulus. As such,           to carry out credit monitoring mechanisms, both for
         OJK determines that the Accommodation Provision                 debtors on an entity and portfolio basis.
         and Food and Beverage Provision Sector, the Textile
         and Textile Products and Footwear Sector, the MSME              The credit monitoring mechanism is carried out
         Segment, and Bali Province are sectors and regions              through:
         that still require special treatment related to bank            a. Early warning signal analysis of all debtors with
         credit or financing.                                                special attention to ex-Covid-19 Restructuring
                                                                             debtors.
         With the issuance of this provision, in the event that          b. Output of early warning signals for debtors who
         there are Covid-19 Restructuring debtors who still                  have the potential to experience a decline in
         require a restructuring extension but are not eligible to           performance accompanied by an action plan
         get an extension, then the debtor will be restructured              that is monitored on an ongoing basis.
         under the normal restructuring category.
                                                                         The Bank always conducts credit monitoring to
      4. Post-Covid-19 Pandemic Risk Management                          maintain the quality of the managed credit portfolio.
         The government has decided to revoke the Covid-19
         pandemic status since June 2023 and declared that
         Indonesia has entered the endemic period. After the
         Covid-19 pandemic, mobility and business activities
         have increased and continue to improve economic
         conditions. Economic development also shows a more
         solid recovery direction.

         As of October 2023, the size of the Covid-19
         Restructuring portfolio has significantly decreased
         to Rp21.1 trillion, compared to the highest position of
         Rp96.5 trillion in June 2021. The CKPN Build Up formed
         in order to mitigate credit risk on this portfolio has
         naturally decreased from Rp5.8 trillion at the highest
         position in December 2020 to Rp1.3 trillion in October




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                                                    RISK MANAGEMENT UNIT


 Bank Mandiri has a Risk Management Unit that is responsible for managing all risks appetite of Bank Mandiri, including
 in terms of developing supporting tools needed in business processes and risk management.

 Bank Mandiri’s Risk Management Unit consists of several work units, namely Credit Portfolio Risk Group, Market Risk
 Group, and Operational Risk Group supervised by the Director of Risk Management, Ahmad Siddik Badruddin. The
 following is the profile of the group head, organizational structure, and duties and responsibilities of the Bank Mandiri
 Risk Management Unit in 2023.




 Profile of Risk Management Unit




                                                Educational Background
                                                • Bachelor in Architectural Engineering from University of Indonesia (1995)
                                                • Master of Information Management & System from Monash University Melbourne
                                                    (2005)
                                                • Certified Wealth Manager (CWM) Program from Certified Wealth Managers’
                                                    Association (2020)
                                                • Certificate of Bank Risk Management Level 4 (2021)
                                                 Professional Background
                                                Serves at Bank Mandiri as:
                                                • Audit Manager IT & Operation Audit (2014)
                                                • Audit Manager IT Strategy & Governance (2015)
                                                • Group Head Retail Product Delivery & Fraud Risk Group (2017 – present)
                                                • Group Head Operational Risk Group (2023 - present)


    Upik Trisda Leawaty
    Group Head Operational Risk
    Age: 52 Years old
    Citizenship: Indonesian
    Domicile: Jakarta




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            HIGHLIGHTS                      Report                              Profile                                 AND ANALYSIS




      RISK MANAGEMENT UNIT




                                                         Educational Background
                                                         • Bachelor in Industrial Engineering from Bandung Institute of Technology (1994)
                                                         • Financial Risk Manager (FRM) from Global Association of Risk Professional (2015)
                                                         • Chartered Financial Analyst (CFA) from CFA Institute (2019)

                                                         Professional Background
                                                         Serves at Bank Mandiri as:
                                                         • Department Head of Model Risk Validator (2010-2014).
                                                         • Department Head Credit Risk Modelling (2015-2016).
                                                         • Department Head Enterprise Risk Management (2016-2018).
                                                         • Group Head Credit Portfolio Risk Group (2018-present).


         Alfanendya Safudi
         Group Head Credit Portfolio Risk
         Age: 52 Years old
         Citizenship: Indonesian
         Domicile: Jakarta




                                                         Educational Background
                                                         • Bachelor of Accounting Economics from Universitas Trisakti (2000)
                                                         • Master of Management from Universitas Indonesia (2005)

                                                         Professional Background At Bank Mandiri as:
                                                         Serves at Bank Mandiri as
                                                         • Department Head Trading Risk (2012-2016)
                                                         • Department Head Assets & Liability Management (2016-2018)
                                                         • Deputy Group Head Retail Collection & Recovery East Indo (2018-2020)
                                                         • Group Head Market Risk (2021-present)



         Bily Arkan
         Group Head Market Risk
         Age: 44 Years old
         Citizenship: Indonesian
         Domicile: Jakarta




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                                                                                                                      RISK MANAGEMENT UNIT



 Risk Management Organizational Structure

                                                                                Manajemen Risiko
                                                                              Ahmad Siddik Badruddin


                     Wholesale Risk




                                    Wholesale Risks
                                    Adi Pranantias
                                                                                                Enterprise Risk                           Retail Risk




                                                         Corporate Risk                           Market Risk                          SME & Micro Risk
                                                        Eny Kurniasih M M                         Bily Arkan                            M. Gumilang
                      Wholesale Risk
                          Solution
                     Dyota Mahoedara

                                                                                               Operational Risk                     Consumer Credit Risk &
                                                        Commercial Risk 1                                                                Analytics
                                                         Wildan Sanjoyo                       Upik Trisda Leawati                     Reza Ardiansyah
                          Executive
                         Credit Officer

      Eco – A                 Eco – B
                                                        Commercial Risk 2                     Credit Portfolio Risk              Retail Collection & Recovery
      • Sumanggam TP          • Pangondian O.                                                 Alfanendya Safudi                         Jugie Sugianto
      • Iswandi               • Andry Yusuf                Estiningsih
      • Budi Kurniawan        • Yandril
      • Aried Riadi B         • Ferry Tobing
                              • Tjahjadi Harlianto
                              • Masyuda Derita
                              • Athur Hutagaol                                                Policy & Procedure                    Retail Product Delivery
                              • Maria Nuringati                                                                                          & Fraud Risk
                                                                                                   Mardiana                           Adityo Wicaksono
                              • Deru Widyarto
                              • Nurul Akhsani S
                              • Rommy S




 Duties and Responsibilities of the Risk Management Unit
 Bank Mandiri’s Risk Management Unit consists of several work units, namely Market Risk Group, Operational Risk Group
 and Credit Portfolio Risk Group supervised by the Director of Risk Management. The duties and responsibilities of each
 work unit are as follows.
         Unit                                                               Functions, Duties and Responsibilities
 Operational Risk         •     Formulate, propose, and monitor Operational Risk Appetite.
 Group                    •     Develop and implement a methodology for calculating Regulatory Capital Charges in accordance with applicable
 (Operational Risk              regulations and Basel regulations. Including evaluating and monitoring its realization.
 Manager)                 •     Formulate, develop and refine frameworks related to operational risk management, such as procedures, technical
                                instructions, methodologies & tools. This includes socializing, training, and assisting in the implementation of the operational
                                risk management framework to the Senior Operational Risk Unit according to the field.
                          •     Monitoring and evaluate the quality and adequacy of the implementation of operational risk management framework
                                tools such as Risk & Control Self-Assessment (RCSA), Key Indicator (KI), Loss Event Database (LED) and Issue and Action
                                Management (IAM) in the Risk Owner & Control Unit and the Senior Operational Risk Unit according to the Field.
                          •     Design, develop and implement systems related to operational risk management (ORMS).
                          •     Develop and implement a risk awareness program for operational risk management for all employees.
                          •     Develop an operational risk management reporting system in accordance with best practices and submit the Bank’s
                                Operational Risk Profile reporting to the Management or Risk Management & Credit Policy Committee and regulators.
                          •     Review and provide recommendations for business process improvement to the Risk Owner Unit, Senior Operational Risk
                                Unit (Field Appropriate Risk) and/or to the Risk Management & Credit Policy Committee in order to minimize operational
                                risk.
                          •     Provide referrals, evaluate, provide recommendations, disseminate, and provide assistance in the implementation of
                                operational risk management frameworks to Subsidiaries.




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      RISK MANAGEMENT UNIT




               Unit                                                        Functions, Duties and Responsibilities
      Credit Portfolio Risk    •   Develop and refine credit risk methodologies, Credit Risk Tools (Rating & Scoring, Watchlist, Stress Testing and Financial
      Group                        Spreadsheet), as well as processes used in lending to meet business development needs, improve credit processes, and
      (Credit Portfolio Risk       keep up with regulatory changes, competition developments and best practices.
      Manager)                 •   Develop a Portfolio Guideline as a reference for credit growth and set a portfolio limit (per economic/industrial sector,
                                   segment, region) as a risk threshold that can be taken by the Bank (risk appetite).
                               •   Carry out portfolio management on a bank-wide scale and per business segment, which includes allocation
                                   arrangements, reallocation and concentration of credit portfolios, sectoral risk monitoring, as well as stress testing
                                   assessment and sectoral sensitivity analysis including portfolio control if needed.
                               •   Control credit portfolio quality risks and ensure adequate loss reserves for the credit portfolio
                               •   Formulate, prepare and coordinate the implementation of Enterprise Risk Management (ERM) which includes policies,
                                   governance, methodologies, processes and information systems, to support the implementation of risk management
                                   inherent in business processes and risk-based performance, by referring to international best practices, OJK/ BI regulations
                                   and the implementation of Basel II/III, as well as compiling a Recovery Plan and Resolution Plan.
                               •   Conduct/coordinate the process of identifying, measuring and analysing risks individually, as well as consolidated/
                                   integrated, among others through Risk Profile, Risk-Based Bank Rating, and Scenario Analysis (Stress Testing).
                               •   Carrying out the functions of the enterprise risk management model, among others, through the implementation
                                   of governance models and validation models, hence the models used by the Bank (risk management models and
                                   business models) have the quality that can be accounted for academically and by business and have met regulatory
                                   requirements.
                               •   Manage an accurate, reliable and timely ERM credit and datamart database for use in modelling, portfolio management
                                   and ERM implementation processes.
      Market Risk Group        •   Measure market risk using a standardised method, an internal method, and market risk modelling.
      (Market Risk             •   Perform analysis, provide recommendations, and perform market risk mitigation function for treasury treading activities on
      Manager)                     behalf of business units and management.
                               •   Manage the Bank’s liquidity risk by applying liquidity risk management principles and preparing alternative strategies for
                                   funding liabilities and asset payment so that the Bank’s liquidity is managed efficiently, and the risk is controlled.
                               •   Manage interest rate risk and forex risk of the banking book portfolio and make recommendations for the strategies
                                   to manage the Bank’s balance sheet to achieve optimum risk and return rate in an effort to maintain profitability and
                                   increase shareholder value.
                               •   Review the pricing methodology of Third-Party Funds, credit, and Transfer Pricing Funds in line with the strategies for
                                   managing assets and liabilities.
                               •   Manage information system concerning the management of interest rate risk, forex risk, and liquidity risk.


      Risk Management Certification

       No             Name                              Position                                                 Certification
      1     Alfanendya Safudi           Group Head Credit Portolio Risk          •   Indonesia Banking Certification in Risk Management – Level 4
                                                                                 •   Financial Risk Manager (FRM)
                                                                                 •   Chartered Financial Analyst (CFA)
      2     Upik Trisda Leawaty         Group Head Operational Risk              Risk Management Certification Refreshment - Level 4
      3     Bily Arkan                  Group Head Market Risk                   Risk Management Certification - Level 6


      Implementation of the Risk Management Unit

      In 2023, SKMR has implemented several initiatives/work plans to improve the implementation of Risk Management,
      including:
      1. Project Limit Management System
      2. Resolution Plan for Systemic Banks
      3. Enhancement System for Credit RWA calculation (Basel III Adjustments Reforms)
      4. Dynamic Monitoring System (Early Warning System for Wholesale segment)
      5. Early Warning Signal for SME segment
      6. Implementation of reference rate change to LIBOR
      7. New Treasury Core System Project
      8. Development of an Operational Risk System, one of which is to accommodate the needs of calculating operational
          risk RWA with a standardized approach in accordance with prevailing regulations
      9. Operational Risk Awareness Program



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                  INTEGRATED RISK MANAGEMENT UNIT




 Bank Mandiri has established an Integrated Risk                    6. Review proposals for new business lines that are
 Management Unit (SKMRT) coordinated by the Credit                      strategic in nature and have a significant effect on
 Portfolio Risk Group, which is independent of other                    the risk exposure of the Financial Conglomeration.
 operational work units and has adequate policies,                  7. Provide information to the Integrated Risk Management
 procedures and risk limit determination. SKMRT has the                 Committee on matters that need to be followed up
 authorities and responsibilities contained in the Integrated           related to the evaluation results on the implementation
 Governance Guidelines, including the following:                        of integrated risk management.
 1. Provide input to the Board of Directors of Bank Mandiri,        8. Provide input to the Integrated Risk Management
    among others, in the preparation of integrated risk                 Committee, in preparing and improving integrated
    management policies, as well as the improvement                     risk management policies.
    or refinement of integrated risk management policies            9. Prepare and submit integrated risk profile reports
    based on the results of implementation evaluation.                  periodically to the Director in charge of the integrated
 2. Monitor the implementation of integrated risk                       risk management function and to the Integrated Risk
    management policies including developing                            Management Committee.
    procedures and tools for risk identification,                   10. Conduct integrated capital adequacy assessment.
    measurement, monitoring and control.                            11. Monitoring and submitting integrated capital reports.
 3. Conduct risk monitoring in the Financial Conglomeration
    based on the results of the assessment of:                      In 2023, SKMRT has carried out several initiatives in
    a. Risk profile of each Financial Services Institution          implementing consolidated/integrated risk management,
        (FSI) in the Financial Conglomeration.                      as follows:
    b. The risk level of each risk in an integrated manner          1. Preparation of Consolidated Counterparty Limit (CCL).
    c. Integrated risk profile.                                     2. Implementation of Independent Group Stress Testing
 4. Conduct stress testing.                                             regularly every semester.
 5. Conduct periodic reviews to ensure:                             3. Implementation of the Integrated Risk Management
    a. The accuracy of the risk assessment methodology.                 Forum (IRMF) every quarter.
    b. Adequacy of management information system                    4. Operational Risk Management Alignment.
        implementation.                                             5. Alignment Calculation and Monitoring of Market Risk
    c. Appropriateness of policies, procedures and risk                 Trading Book in Insurance, Securities, and Multifinance
        limit setting, in an integrated manner.                         Subsidiaries.




                                                                                                         ANNUAL REPORT 2023        845
Page 339
             MAIN                           Management                        Company                        MANAGEMENT DISCUSSION
             HIGHLIGHTS                     Report                            Profile                        AND ANALYSIS




      DISCLOSURE OF RISK EXPOSURE




            The Bank presents a disclosure of risk exposures for credit risk,
            market risk, liquidity risk, and operational risk as follows:




      CREDIT RISK EXPOSURES
                                                                           2. Disclosure of Net Receivables by Economic Sector
      The Bank presents the disclosure of risk exposure to credit             a. Disclosure of Net Receivables by Economic Sector
      risk, market risk, liquidity risk and operational risk as follows:         - Bank Only
                                                                              b. Disclosure of Net Receivables by Economic Sector
      Disclosure of Credit Quality on Assets (CR1)                               - Consolidated
          a. Bank Only
          b. Consolidated                                                  3. Disclosure of Net Receivables Based on Remaining
          c. Additional Disclosures                                           Contract Term
                                                                              a. Disclosure of Net Receivables Based on Remaining
      Disclosure of Credit Mutation and Overdue Securities                       Contract Term - Bank Only
      (CR2)                                                                   b. Disclosure of Net Receivables Based on Remaining
          a. Bank Only                                                           Contract Term - Consolidated
          b. Consolidated
          c. Additional Disclosures                                        4. Disclosure of Receivables and Reserve by Region
                                                                              a. Disclosure of Receivables and Reserve by Region
                                                                                 - Bank Only
      Additional Disclosures on Credit Quality of Assets                      b. Disclosure of Receivables and Reserve by Region
      (CRB)                                                                      - Consolidated
      1. Disclosure of Net Receivables by Region
          a. Disclosure of Net Receivables by Region - Bank                5. Disclosure of Receivables and Reserve by
             Only                                                             Economic Sector
          b. Disclosure Net Receivables by Region -                           a. Disclosure of Receivables and Reserve by Economic
             Consolidated                                                        Sector - Bank Only
                                                                              b. Disclosure of Receivables and Reserve by Economic
                                                                                 Sector - Consolidated




846   PT Bank Mandiri (Persero) Tbk.
Page 340
CORPORATE
 CORPORATE               ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                        RESPONSIBILITY                            Statements 2023




                                                                             DISCLOSURE OF RISK EXPOSURE




 6. Disclosure of Receivables on Delinquent Days                Net Receivables of Credit Derivatives (CCR6)
    a. Disclosure of Receivables Based on Delinquent
       Days - Bank Only                                         Disclosure of securitization Exposure in Banking Book
    b. Disclosure of Receivables Based on Delinquent            (SEC1)
       Days - Consolidated
                                                                Disclosure of securitization Exposure in Trading Book
 Additional Disclosures related to the Treatment of             (SEC2)
 Non-Performing Assets (CRB-A)
 1. Disclosure of Performing and Non-Performing                 Disclosure of securitization exposure in the banking
    Assets                                                      book when the bank is the originator or sponsor and
    a. Disclosure of Performing and Non-Performing Assets       its capital requirements (SEC3)
       – Bank Only
    b. Disclosure of Performing and Non-Performing Assets       Disclosure of Securitization Exposure on banking book
       - Consolidated                                           and its capital requirements – Bank as investor (SEC4)

 2. Disclosure of Performing and Non-Performing                 All tables regarding Credit Risk Exposures can be found
    Restructuring Assets                                        on pages 854-878 herein.
    a. Disclosure of Performing and Non-Performing
       Restructuring Assets - Bank Only                         MARKET RISK EXPOSURES
    b. Disclosure of Performing and Non-Performing
       Restructuring Assets - Consolidated                      Market Risk Disclosure Using Standard Methods and
                                                                Internal Models
 3. Quantitative Disclosure on Credit Risk Mitigation           The Bank regularly calculates the Capital Adequacy
    Techniques (CR3)                                            Ratio (CAR) using a Standardized Method that is reported
    a. Bank Only                                                monthly to the Financial Services Authority (OJK), while for
    b. Consolidated                                             the consolidated position with its subsidiaries, it is reported
                                                                quarterly. This reporting aims to improve the Bank’s quality
 Disclosure of Credit Risk Exposure and Impact of               and quantity so the Bank will be able to absorb potential
 Credit Risk Mitigation Techniques (CR4)                        losses due to financial and economic crises.
    a. Bank Only
    b. Consolidated                                             • Table 7.1 Disclosure of Market Risk using a Standardized
                                                                  Method
 Exposure Disclosure by Asset Class and Risk Weights
 (CR5)                                                          For internal purposes, Bank Mandiri also has calculated
    a. Bank Only                                                using an Internal Method. The CAR calculation using an
    b. Consolidated                                             internal method is done by applying Value at Risk (VaR), a
                                                                value describing the maximum losses the Bank can handle
 Counterparty Credit Risk (CCR1) Exposure Analysis              because of market movements affecting the Bank’s risks
                                                                in normal market conditions with a 99% confidence level.
 CCR Exposure by Portfolio Category and Risk Weight             To obtain the VaR, the method used is Historical Simulation.
 (CCR3)
    a. Disclosure of CCR Exposure by Portfolio Category         Realization of Value at Risk of Bank Mandiri in 2021 is as
       and Risk Weighting – Bank Only                           follows:
    b. Disclosure of CCR Exposure by Portfolio Category         • Table 7.2 Disclosure of Market Risk using an Internal
       and Risk Weighting - Consolidated                             Model (Value at Risk/VaR) - Bank Only




                                                                                                       ANNUAL REPORT 2023         847
Page 341
            MAIN                         Management                      Company                          MANAGEMENT DISCUSSION
            HIGHLIGHTS                   Report                          Profile                          AND ANALYSIS




      DISCLOSURE OF RISK EXPOSURE




      Disclosure of Interest Rate Risk in                             LIQUIDITY RISK EXPOSURES
      Banking Book (IRRBB) Exposures
      The Interest Rate Risk in The Banking Book is a risk due to     In order to improve liquidity resilience, the Bank manages
      movements of interest rates in the market that run counter      risk by measuring the short-term liquidity adequacy ratio
      to the position of the Banking Book, which potentially          using the Liquidity Coverage Ratio (LCR) and the long-
      impacts the capital and income of the Bank in the current       term using the Net Stable Funding Ratio (NSFR). The Bank
      period or the future.                                           manages the LCR and NSFR ratios in accordance with
                                                                      the provisions of the Regulator, both individually and on
      According to OJK Circular No. 12/SEOJK.03/2018                  a consolidated basis, above the minimum limit of 100%.
      on “Implementation of Risk Management and Risk                  1. Table of Disclosure of Liquidity Coverage Ratio
      Measurement using a Standardized Method for Interest            2. Table of Disclosure of Net Stable Funding Ratio
      Rate Risk in The Banking Book for Commercial Banks”,
      the Bank uses 2 (two) methods in calculating the IRRBB:         All tables regarding Liquidity Risk Exposures can be found
      1. Calculation based on changes in the economic                 on pages 928-932 herein.
         value of equity, hereafter EVE, which is a method
         that measures the impact of interest rate changes            OPERATIONAL RISK EXPOSURE
         on the economic value of equity of the Bank; and
      2. Calculation based on changes in net interest income,         Calculating Operational Risk-
         hereafter NII, which is a method that measures the           Weighted Assets (RWA)
         impact of interest rate changes on the income of             To calculate its capital expenses and Operational RWA,
         the Bank.                                                    the Bank employs the Basic Indicator Approach (BIA)
                                                                      method in accordance with OJK Circular Letter No.24/
      Based on the sensitivity analysis at the end of December        SEOJK.03/2016 regarding Operational RWA using the Basic
      2022, the impact of interest rate changes on the economic       Indicator Approach.
      value of equity and the net interest income is as follows:
      1. Table 7.3a Disclosure of Interest Rate Risk in Banking       The operational risk weighted assets position as at 31
         Book (IRRBB) Exposures - Bank Only                           December 2022 for Bank only stood at Rp133,826,963.32
      2. Table 7.3b Disclosure of Interest Rate Risk in Banking       million, while the operational risk RWA consolidated with
         Book (IRRBB) Exposures - Bank Consolidated with              the subsidiaries stood at Rp176,859,897.38 million.
         Subsidiaries
                                                                      The following table provides information on capital
      In addition to the disclosure of IRRBB exposures, the Bank      expenses and operational risk RWA with Basic Indicator
      also discloses foreign exchange risk. The foreign exchange      Approach (BIA) method in accordance with the above
      risk arises because of market movements that run counter        OJK provisions.
      to Bank Mandiri’s foreign exchange position. This risk comes    • Table 9.1 Disclosure of Operational Risk Quantitative –
      from the Bank’s assets and liabilities in the balance sheet        Bank Only and Consolidated with Subsidiaries
      in foreign currencies, from foreign exchange transactions
      with customers and counterparties causing open positions
      in the foreign exchange, or from a structural position in the
      foreign exchange due to capital participation.
      • Table 7.4 Disclosure of Risk Management
           Implementation Report for IRRBB

      All tables regarding Market Risk Exposures can be found
      on pages 886-913 herein.




848   PT Bank Mandiri (Persero) Tbk.
Page 342
CORPORATE
 CORPORATE                    ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                   & PRACTICES                   RESPONSIBILITY                          Statements 2023




                                                                             DISCLOSURE OF RISK EXPOSURE




 Table on Operational Risk Exposures can be found on page 849 herein.
                                                                        31 December 2023 position
                  Approach Used
                                                          Capital Expenses                             ATMR
 1   Standardized Approach (Individual)                                      4,697,622.24                       58,720,278.00
 2   Standardized Approach (Consolidated)                                    5,466,589.11                       68,332,363.88


 Moreover, Bank Mandiri has carried out Trial on the calculation of capital expenses operational risk using the Standardized
 Approach (SA) according to OJK circular No. 06/SEOJK/03/2020 concerning the Calculation of Operational Risk-Weighted
 Assets using Standardized Approach, which is effective as of January 2023. Bank Mandiri was also the pilot project site
 in Indonesia for the implementation of Basel III Reform and has complied with the Quantitative Impact Study reporting
 per semester to simulate the calculation of capital adequacy ratio using the SA method under the Basel III Reform.




                                                                                                      ANNUAL REPORT 2023        849
Page 343
            MAIN                       Management                        Company                             MANAGEMENT DISCUSSION
            HIGHLIGHTS                 Report                            Profile                             AND ANALYSIS




      Credit Quality Disclosure of Assets (CR1)




      1) Bank Only



                                                           Gross Carrying Value                                 CKPN


                                            Past Due Receivables                           Past Undue Receivables


                                                     a                            b                                 c



       1      Loan                                       10,999,537               1,074,787,890                         42,335,379

       2      Securities                                    39,496                    241,932,677                          39,464

              Administrative Account
       3                                                    94,686                    363,189,679                        1,111,730
              Transactions

       4      Total                                      11,133,719               1,679,910,246                         43,486,573




      2) Bank Consolidated with Subsidiaries



                                                           Gross Carrying Value                                 CKPN


                                            Past Due Receivables                           Past Undue Receivables


                                                     a                            b                                 c



       1      Loan                                       16,133,591               1,343,698,604                         43,435,247

       2      Securities                                   138,496                    363,023,678                          45,939

              Administrative Account
       3                                                   118,963                    366,466,822                        1,111,740
              Transactions

       4      Total                                      16,391,050               2,073,189,104                         44,592,926




      3) Additional Disclosures

      Past Due Receivables is all Past Due Receivables of more than 90 (ninety) days, either on principal payments and/or
      interest payments, or receivables to defaulting debtors.




850   PT Bank Mandiri (Persero) Tbk
Page 344
CORPORATE
 CORPORATE                      ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE
 GOVERNANCE                     & PRACTICES                            RESPONSIBILITY                            Statements 2023




                                                                   Credit Quality Disclosure of Assets (CR1)




                                                                                                                      (in million rupiah)

                 Allowances for Impairment Losses
                                                                                 Allowances for Impairment
                                                                                           Losses                Net Value (a+b-c)
       Stage 2 dan Stage 3                          Stage 1                           (IRB Approach)



                 d                                     e                                     f                          g



                         31,133,872                            11,201,507                                                       1,043,452,048

                               24,850                             14,614                                                         241,932,709

                           639,952                               471,778                                                         362,172,635


                         31,798,674                           11,687,899                     -                                  1,647,557,392




                                                                                                                    (in million rupiah)

          Allowances for Impairment Losses
                                                                                               Allowances for
                                                              CKPN Sharia Exposure           Impairment Losses    Net Value (a+b-c)
    Stage 2 dan Stage 3                 Stage 1                                                (IRB Approach)



            d                             e                                 f                        f                      g



                31,380,450                    12,054,797                        9,675,229                                   1,306,721,719

                      24,850                       21,089                        132,506                                         362983729

                     639,852                      471,888                         32,018                                         365442027


                32,045,152                    12,547,774                        9,839,753            -                      2,035,147,475




                                                                                                                  ANNUAL REPORT 2023            851
Page 345
            MAIN                            Management                   Company                      MANAGEMENT DISCUSSION
            HIGHLIGHTS                      Report                       Profile                      AND ANALYSIS




      Disclosure of Credit Mutation and
      Overdue Securities (CR2)




       1) Bank Only
                                                                                                          (in million rupiah)

                                                                                                      a

       1     Past Due Loan and Securities on last reporting period                                                14,944,030

       2     Past Due Loan and Securities since last reporting period                                              4,989,527

       3     Past Undue Loan and Securities that return to receivables                                              734,217

       4     Write-Off Value                                                                                      17,863,589

       5     Other Movements                                                                                       9,703,282

       6     Past Due Loan and Securities on last reporting period                                                11,039,033
             (1+2-3-4-5)




       2) Bank Consolidated with Subsidiaries
                                                                                                          (in million rupiah)

                                                                                                      a

       1     Past Due Loan and Securities on last reporting period                                                20,316,214

       2     Past Due Loan and Securities since last reporting period                                              8,402,616

       3     Past Undue Loan and Securities that return to receivables                                              895,872

       4     Write-Off Value                                                                                      20,871,629

       5     Other Movements                                                                                       9,320,758

       6     Past Due Loan and Securities on last reporting period                                                16,272,087
             (1+2-3-4-5)



      3) Additional Disclosures
      The value of Loans and Securities Maturing Individually and Consolidated in the December 2023 period decreased
      compared to June 2023. In general, the largest decline was contributed by write-offs of Credit books and Securities.
      Another change item is added to reconcile the total value of Loans and Securities Maturing at the end of the reporting
      period.




852   PT Bank Mandiri (Persero) Tbk
Page 346
CORPORATE
 CORPORATE        ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL   Financial
GOVERNANCE
 GOVERNANCE       & PRACTICES                      RESPONSIBILITY             Statements 2023




          Pengungkapan Mutasi Kredit dan Surat Berharga yang Telah Jatuh
                                                            Tempo (CR2)




                                    This page is intentionally left blank




                                                                               ANNUAL REPORT 2023   853
Page 347
             MAIN                             Management                     Company                          MANAGEMENT DISCUSSION
             HIGHLIGHTS                       Report                         Profile                          AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)




      Quantitative
      1) Disclosure of Net Receivables by Region


      i. Disclosure of Net Receivables by Region - Bank Only


                                                                                         December 31, 2023


                                                                                     Net Receivables by Region
       No.     Portfolio Category


                                                                      Sumatera         Jakarta         Jawa           Kalimantan


       1       Government Receivables                                            -      27,957,249                -                -

       2       Public Sector Entities Receivables                       11,808,353      59,802,196      9,800,474          175,345

               Multilateral Development Banks and International
       3
               Institutions Receivables

       4       Bank Receivables                                          1,619,174       3,960,244           61,481           428

       5       Receivables in the form of Covered Bond

               Securities Companies and Other Financial Services
       6                                                                     3,002       7,306,108                -                -
               Institutions Receivables

               Receivables in the form of Securities/Subordinated
       7
               Receivables, Equity and Other Capital Instruments

       8       Loans Secured by Residential Property                     4,877,950      23,923,432     17,419,585        1,882,237

       9       Loans Secured by Commercial Real Estate                   2,041,040      12,162,727      4,027,257          625,202

               Loan by Land Acquisition, Land Processing and
       10                                                                        -        187,271         675,595                  -
               Construction

       11      Loan by Employee or Pensioner                                10,772          52,178            7,140          8,392

               Micro Business, Small Business, and Retail Portfolio
       12                                                               40,898,780      74,921,855     54,211,580       13,650,281
               Receivables

       13      Corporate Receivables                                    68,430,900     308,155,018     66,413,702       41,994,719

       14      Past Due Receivables                                       317,100        7,198,319      1,194,039          116,321

       15      Other Assets

       TOTAL                                                           130,007,073     525,626,597    153,810,852       58,452,924




854   PT Bank Mandiri (Persero) Tbk
Page 348
CORPORATE
 CORPORATE              ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL              Financial
GOVERNANCE
 GOVERNANCE             & PRACTICES                     RESPONSIBILITY                        Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                               December 31, 2023


                                            Net Receivables by Region


                        Bali & Nusa
  Sulawesi & Maluku                         Papua             Kantor Pusat         Overseas               Total
                         Tenggara

                    -                   -                -         364,038,785        64,858,187           456,854,221

                  39             92,048                  -          18,243,990           815,774           100,738,218

                                                                                                                       -

                    -                   -                -          60,772,902        19,746,249            86,160,477

                                                                                                                       -

                    -                   -                -                   722               -              7,309,832


                                                                          2,970                                    2,970

           2,478,621          2,072,633         562,408                 111,662                -            53,328,528

           1,123,630            117,928             62,675              375,753                -            20,536,212

              396,806                   -                -                     -               -              1,259,671

                5,495                 507            1,884                   400                                  86,767

          18,099,694         10,091,881        5,667,173            21,319,904           297,722           239,158,870

          25,596,337         16,321,967        2,009,609           121,783,955        53,155,840           703,862,047

              159,358            57,442             39,632              780,741               18              9,862,971

                                                                    92,584,977                              92,584,977

          47,859,979         28,754,405        8,343,381           680,016,759       138,873,790          1,771,745,761




                                                                                                   ANNUAL REPORT 2023      855
Page 349
             MAIN                             Management                          Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                       Report                              Profile                               AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




      ii. Disclosure of Net Receivables by Region - Bank Consolidated with Subsidiaries

                                                                                                 December 31, 2023


                                                                                             Net Receivables by Region
       No.                       Portfolio Category


                                                                          Sumatera           Jakarta             Jawa            Kalimantan


       1       Government Receivables                                                 -        27,957,249                  -                  -


       2       Public Sector Entities Receivables                           11,808,353         59,802,196          9,800,474           175,345

               Multilateral Development Banks and International
       3                                                                              -                 -                  -                  -
               Institutions Receivables

       4       Bank Receivables                                              1,619,174          3,960,244             61,481               428


       5       Receivables in the form of Covered Bond                                -                 -                  -                  -

               Securities Companies and Other Financial Services
       6                                                                         3,002          7,306,108                  -                  -
               Institutions Receivables


               Receivables in the form of Securities/Subordinated
       7                                                                              -                 -                  -                  -
               Receivables, Equity and Other Capital Instruments


       8       Loans Secured by Residential Property                         4,877,950         23,923,432         17,419,585         1,882,237


       9       Loans Secured by Commercial Real Estate                       2,041,040         12,162,727          4,027,257           625,202

               Loan by Land Acquisition, Land Processing and
       10                                                                             -           187,271           675,595                   -
               Construction

       11      Loan by Employee or Pensioner                                    10,772             52,178              7,140             8,392

               Micro Business, Small Business, and Retail Portfolio
       12                                                                   40,898,780         74,921,855         54,211,580        13,650,281
               Receivables

       13      Corporate Receivables                                        68,430,900        308,155,018         66,413,702        41,994,719


       14      Past Due Receivables                                            317,100          7,198,319          1,194,039           116,321


       15      Other Assets                                                           -                 -                  -                  -


       16      Eksposur di Entitas Anak - Syariah                           64,401,779        158,008,822         92,686,085        21,912,872


       TOTAL                                                               194,408,852        683,635,419       246,496,937         80,365,796


       Description:
       For the position of 31 December 2023, the Economic Sector mapping refers to the template of the Credit Risk Publication Report according
       to SEOJK No. 24/SEOJK.03/2021.




856   PT Bank Mandiri (Persero) Tbk
Page 350
CORPORATE
 CORPORATE              ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL              Financial
GOVERNANCE
 GOVERNANCE             & PRACTICES                     RESPONSIBILITY                        Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                               December 31, 2023


                                            Net Receivables by Region


                        Bali & Nusa
  Sulawesi & Maluku                         Papua             Kantor Pusat         Overseas               Total
                         Tenggara


                    -                   -                -         383,853,769        64,858,187           476,669,205


                  39             92,048                  -          18,821,553           815,774           101,315,780


                    -                   -                -                     -               -                      -


                    -                   -                -          61,517,270        19,746,249            86,904,845


                    -                   -                -                     -               -                      -


                    -                   -                -                   722               -              7,309,832



                    -                   -                -                2,970                -                  2,970



           2,478,621          2,072,633         562,408                 159,711                -            53,376,577


           1,123,630            117,928             62,675              375,753                -            20,536,212


              396,806                   -                -                     -               -              1,259,671


                5,495                 507            1,884          30,166,434                 -            30,252,801


          18,099,694         10,091,881        5,667,173            64,164,387           297,722           282,003,353


          25,596,337         16,321,967        2,009,609           123,931,293        53,155,840           706,009,385


              159,358            57,442             39,632           1,040,103                18            10,122,333


                    -                   -                -          98,598,603                 -            98,598,603


          13,075,318          6,351,277         834,400                        -               -           357,270,553


          60,935,297         35,105,682        9,177,781           782,632,566       138,873,790          2,231,632,121




                                                                                                   ANNUAL REPORT 2023     857
Page 351
             MAIN                            Management                        Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                      Report                            Profile                               AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)




      2) Disclosure of Net Receivables by Economic Sector




      i. Disclosure of Net Receivables by Economic Sector - Bank Only


                                                                                                                                   Securities
                                                                               Multilateral
                                                                                                                 Receivables     Companies
                                                                 Public       Development
                                                                                                                    in the        and Other
                                                Government       Sector        Banks and             Bank
       No.    Economic Sectors                                                                                     form of         Financial
                                                Receivables      Entities     International       Receivables     Covered           Services
                                                               Receivables     Institutions                         Bond          Institutions
                                                                              Receivables
                                                                                                                                 Receivables


       December 31, 2023

              Agriculture, Forestry, and
       1                                                   -     12,013,735                   -              -               -                   -
              Fisheries

       2      Mining and Extracting                        -      3,801,257                   -              -               -                   -

       3      Processing Industry                          -     12,713,952                   -              -               -              132

              Electricity, Gas, Hot Water and
       4                                                   -     15,890,206                   -              -               -                   -
              Cold Water

              Water Management, Waste
       5      Management, Garbage                          -              -                   -              -               -                   -
              Management and Recycling

       6      Construction                                 -     15,484,683                   -              -               -                   -

              Wholesale and Retail Trade;
       7      Car and Motorcycle Repair &                  -       439,722                    -              -               -              784
              Maintenance

       8      Transportation & Warehousing                 -     15,049,926                   -              -               -                   -

              Accommodation and
       9                                                   -              -                   -              -               -                   -
              Restaurants

              Information and
       10                                                  -      2,690,131                   -              -               -                   -
              Communications

              Finance and Insurance
       11                                          4,086,343      4,714,250                   -      8,015,175               -        7,308,194
              Activities

       12     Real Estate                                  -              -                   -              -               -                   -

              Professional, Science, and
       13                                                  -        39,995                    -              -               -                   -
              Technical Activities

              Lease and Lease without
              Option Rights, Labor, Travel
       14                                            29,748         32,545                    -         1,360                -                   -
              Agents, and Other Business
              Support Activities




858   PT Bank Mandiri (Persero) Tbk
Page 352
CORPORATE
 CORPORATE                   ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                           RESPONSIBILITY                              Statements 2023




         Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                      Loan by                       Micro
 Receivables in the
                         Loans                          Land                      Business,
 form of Securities/                   Loans                          Loan by
                        Secured                     Acquisition,                    Small
    Subordinated                     Secured by                      Employee                    Corporate        Past Due       Other
                           by                           Land                      Business,
    Receivables,                     Commercial                          or                     Receivables      Receivables     Assets
                       Residential                   Processing                   and Retail
  Equity and Other                   Real Estate                     Pensioner
                        Property                         and                       Portfolio
 Capital Instruments
                                                    Construction                 Receivables




                   -             -      1,493,580              -             -     24,239,506     79,635,178          617,470             -

                   -             -       148,056               -             -         24,722    102,455,326            4,245             -

                   -        3,117       4,329,533        604,642             -      6,254,503    129,014,781        3,177,625             -

                   -             -       838,547               -             -           144      28,868,159             101              -



                   -             -              -              -             -           512        497,082               22              -


                   -          699         63,599          75,618             -        223,407     49,556,679        3,609,726             -


                   -             -      2,231,054              -             -     39,335,949     53,882,103          358,401             -


                   -             -       268,822               -             -      1,979,702     39,459,892           50,033             -

                   -             -      2,336,600              -             -      8,526,116      8,997,845           43,524             -


                   -             -       478,138               -             -        220,893     24,242,926            1,553             -


                   -        3,867               -              -             -        310,552     25,757,565           17,070             -

                   -             -      6,013,689        579,411             -          1,882     20,586,831           48,610             -

                   -             -              -              -             -        247,885      6,926,716            1,525             -



                   -          249               -              -             -     20,457,868       179,854            46,212             -




                                                                                                                ANNUAL REPORT 2023        859
Page 353
             MAIN                            Management                       Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                      Report                           Profile                               AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



      i. Disclosure of Net Receivables by Economic Sector - Bank Only


                                                                                                                                  Securities
                                                                              Multilateral
                                                                                                                Receivables     Companies
                                                                Public       Development
                                                                                                                   in the        and Other
                                               Government       Sector        Banks and             Bank
       No.     Economic Sectors                                                                                   form of         Financial
                                               Receivables      Entities     International       Receivables     Covered           Services
                                                              Receivables     Institutions                         Bond          Institutions
                                                                             Receivables
                                                                                                                                Receivables


       December 31, 2023

               Government, Defense, and
       15      Mandatory Social Security                  -            76                    -              -               -                   -
               Administration

       16      Education                         52,292,754              -                   -              -               -                   -

               Human Health and Social
       17                                                 -         25,007                   -              -               -                   -
               Activities

               Arts, Entertainment, and
       18                                                 -              -                   -              -               -                   -
               Recreation

       19      Other Services Activities                  -              -                   -              -               -                   -

               Household Activities as
               Employer: Activities that
       20      produce goods and services        19,117,369          4,500                   -              -               -                   -
               by households that are used
               to meet their own needs

               International Agencies and
       21      Other Extra- International                 -              -                   -              -               -                   -
               Agencies Activities

       22      Household                                  -              -                   -       528,647                -                   -

       23      Non-Business                            334           2,662                   -        16,592                -                   -

       24      Others                           381,327,673     17,835,571                   -     77,598,703               -              722

       TOTAL                                    456,854,221    100,738,218               -         86,160,477               -        7,309,832




860   PT Bank Mandiri (Persero) Tbk
Page 354
CORPORATE
 CORPORATE                   ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                           RESPONSIBILITY                              Statements 2023




         Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                      Loan by                       Micro
 Receivables in the
                         Loans                          Land                      Business,
 form of Securities/                   Loans                          Loan by
                        Secured                     Acquisition,                    Small
    Subordinated                     Secured by                      Employee                    Corporate        Past Due        Other
                           by                           Land                      Business,
    Receivables,                     Commercial                          or                     Receivables      Receivables      Assets
                       Residential                   Processing                   and Retail
  Equity and Other                   Real Estate                     Pensioner
                        Property                         and                       Portfolio
 Capital Instruments
                                                    Construction                 Receivables




                   -             -        41,356               -             -      1,375,615     11,587,784           22,821              -


                   -             -              -              -             -            15          15,385                -              -

                   -             -              -              -             -        132,861       376,097              281               -


                   -             -       413,826               -             -        331,084      7,068,370            3,915              -

                   -             -              -              -             -          7,458       154,240             2,714              -



                   -        1,651               -              -             -      4,288,803       617,292            17,079              -




                   -             -              -              -             -         28,534              -             402               -


                   -             -              -              -        86,767            87               -              66               -

                   -   52,122,156       1,879,412              -             -    131,013,756      8,639,996        1,179,792              -

               2,970    1,196,789               -              -             -        157,018    105,341,945          659,783    92,584,977

               2,970   53,328,528      20,536,212      1,259,671        86,767    239,158,870    703,862,047        9,862,971    92,584,977




                                                                                                                ANNUAL REPORT 2023         861
Page 355
             MAIN                          Management                           Company                          MANAGEMENT DISCUSSION
             HIGHLIGHTS                    Report                               Profile                          AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



      ii. Disclosure of Net Receivables by Economic Sector - Bank Consolidated with Subsidiaries

                                                                                                                                  Receivables
                                                                 Multilateral                                   Securities          in the form
                                                                Development                                   Companies           of Securities/
                                                    Public                                     Receivables
                                                                    Banks                                      and Other          Subordinated
                                   Government       Sector                         Bank         in the form
       No.    Economic Sectors                                       and                                        Financial         Receivables,
                                   Receivables      Entities                    Receivables    of Covered
                                                                International                                    Services              Equity
                                                  Receivables                                       Bond
                                                                 Institutions                                  Institutions         and Other
                                                                Receivables                                   Receivables             Capital
                                                                                                                                   Instruments

       December 31, 2023

              Agriculture,
       1      Forestry, and                   -    12,013,735               -              -              -                   -                -
              Fisheries

              Mining and
       2                                      -     3,801,257               -              -              -                   -                -
              Extracting

              Processing
       3                                      -    12,713,952               -              -              -              132                   -
              Industry

              Electricity, Gas,
       4      Hot Water and                   -    15,890,206               -              -              -                   -                -
              Cold Water

              Water
              Management,
              Waste
       5      Management,                     -             -               -              -              -                   -                -
              Garbage
              Management
              and Recycling

       6      Construction                    -    15,484,683               -              -              -                   -                -

              Wholesale and
              Retail Trade; Car
       7      and Motorcycle                  -       439,722               -              -              -              784                   -
              Repair &
              Maintenance

              Transportation &
       8                                      -    15,049,926               -              -              -                   -                -
              Warehousing

              Accommodation
       9                                      -             -               -              -              -                   -                -
              and Restaurants

              Information and
       10                                     -     2,690,131               -              -              -                   -                -
              Communications

              Finance and
       11     Insurance               4,086,343     4,714,250               -      8,015,175              -        7,308,194                   -
              Activities

       12     Real Estate                     -             -               -              -              -                   -                -

              Professional,
              Science, and
       13                                     -        39,995               -              -              -                   -                -
              Technical
              Activities

              Lease and Lease
              without Option
              Rights, Labor,
       14                               29,748         32,545               -         1,360               -                   -                -
              Travel Agents, and
              Other Business
              Support Activities

              Government,
              Defense, and
       15     Mandatory                       -           76                -              -              -                   -                -
              Social Security
              Administration


862   PT Bank Mandiri (Persero) Tbk
Page 356
CORPORATE
 CORPORATE                   ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                      RESPONSIBILITY                          Statements 2023




          Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                            Micro
                 Loans       Loan by Land                 Business,
   Loans
                Secured       Acquisition,    Loan by       Small
  Secured                                                                                                          Exposure in
                   by            Land        Employee     Business,      Corporate     Past Due      Other
     by                                                                                                           Subsidiaries -
               Commercial     Processing         or          and        Receivables   Receivables    Assets
 Residential                                                                                                         Sharia
                  Real            and        Pensioner      Retail
  Property
                 Estate      Construction                  Portfolio
                                                         Receivables




           -     1,493,580               -           -     24,239,506    79,635,178        617,470            -       17,674,425



           -       148,056               -           -        24,722    102,455,326          4,245            -         2,395,027


      3,117      4,329,533         604,642           -      6,254,503   129,014,781      3,177,625            -                    -



           -       838,547               -           -           144     28,868,159           101             -         4,508,138




           -             -               -           -           512        497,082            22             -       10,369,364




        699         63,599          75,618           -       223,407     49,556,679      3,609,726            -       18,119,125



           -     2,231,054               -           -     39,335,949    53,882,103        358,401            -       16,932,240




           -       268,822               -           -      1,979,702    39,459,892         50,033            -         8,294,883


           -     2,336,600               -           -      8,526,116     8,997,845         43,524            -         2,720,985


           -       478,138               -           -       220,893     24,242,926          1,553            -                    -



      3,867              -               -           -       310,552     25,757,565         17,070            -         8,527,502


           -     6,013,689         579,411           -         1,882     20,586,831         48,610            -         3,834,291



           -             -               -           -       247,885      6,926,716          1,525            -                    -




        249              -               -           -     20,457,868       179,854         46,212            -                    -




           -        41,356               -           -      1,375,615    11,587,784         22,821            -                    -




                                                                                                       ANNUAL REPORT 2023              863
Page 357
             MAIN                          Management                             Company                          MANAGEMENT DISCUSSION
             HIGHLIGHTS                    Report                                 Profile                          AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)


      ii. Disclosure of Net Receivables by Economic Sector - Bank Consolidated with Subsidiaries

                                                                                                                                    Receivables
                                                                   Multilateral                                   Securities          in the form
                                                                  Development                                   Companies           of Securities/
                                                   Public                                        Receivables
                                                                      Banks                                      and Other          Subordinated
                                  Government       Sector                            Bank         in the form
       No.     Economic Sectors                                        and                                        Financial         Receivables,
                                  Receivables      Entities                       Receivables    of Covered
                                                                  International                                    Services              Equity
                                                 Receivables                                          Bond
                                                                   Institutions                                  Institutions         and Other
                                                                  Receivables                                   Receivables             Capital
                                                                                                                                     Instruments

       December 31, 2023

       16      Education           52,292,754                 -               -              -              -                   -                 -

               Human Health
       17      and Social                    -        25,007                  -              -              -                   -                 -
               Activities

               Arts,
       18      Entertainment,                -                -               -              -              -                   -                 -
               and Recreation

               Other Services
       19                                    -                -               -              -              -                   -                 -
               Activities

               Household
               Activities as
               Employer:
               Activities that
       20      produce goods       19,117,369             4,500               -              -              -                   -                 -
               and services by
               households that
               are used to meet
               their own needs

               International
               Agencies and
               Other Extra-
       21                                    -                -               -              -              -                   -                 -
               International
               Agencies
               Activities

       22      Household               -              -                 -             528,647         -               -                   -

       23      Non-Business                334            2,662         -              16,592         -               -                   -

       24      Others             401,142,658     18,413,133            -           78,343,071        -                    722                2,970

       TOTAL                      476,669,205    101,315,780            -           86,904,845        -              7,309,832                2,970




864   PT Bank Mandiri (Persero) Tbk
Page 358
CORPORATE
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                              Statements 2023




          Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                             Micro
                 Loans       Loan by Land                  Business,
   Loans
                Secured       Acquisition,    Loan by        Small
  Secured                                                                                                               Exposure in
                   by            Land        Employee      Business,      Corporate     Past Due          Other
     by                                                                                                                Subsidiaries -
               Commercial     Processing         or           and        Receivables   Receivables        Assets
 Residential                                                                                                              Sharia
                  Real            and        Pensioner       Retail
  Property
                 Estate      Construction                   Portfolio
                                                          Receivables




           -             -               -            -            15         15,385                 -             -         4,487,099


           -             -               -            -       132,861        376,097           281                 -         6,804,930



           -       413,826               -            -       331,084      7,068,370          3,915                -         3,250,683



           -             -               -            -          7,458       154,240          2,714                -                    -




      1,651              -               -            -      4,288,803       617,292         17,079                -             154,473




           -             -               -            -        28,534              -           402                 -                    -




      -            -               -            86,767             87         -                 66          -                -

 52,122,156      1,879,412         -                  -    131,013,756     8,639,996      1,179,792         -             130,010,138

  1,244,838        -               -         30,166,034     43,001,501   107,489,283        919,145      98,598,603       119,187,250

 53,376,577     20,536,212       1,259,671   30,252,801   282,003,353    706,009,385     10,122,333      98,598,603       357,270,553




                                                                                                             ANNUAL REPORT 2023             865
Page 359
             MAIN                            Management                           Company                         MANAGEMENT DISCUSSION
             HIGHLIGHTS                      Report                               Profile                         AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)




      3) Disclosure of Net Receivables by Remaining Contract Term


      i. Disclosure of Net Receivables by Remaining Contract Term - Bank Only

                                                                                                    December 31, 2023


       No.     Portfolio Category                                                     Net Receivables by Remaining Contract Term


                                                                                         ≤ 1 year               > 1 year until 3 years


       1       Government Receivables                                                          166,248,785                     57,823,686

       2       Public Sector Entities Receivables                                               33,892,743                     17,032,675

               Multilateral Development Banks and International Institutions
       3                                                                                                    -                            -
               Receivables

       4       Bank Receivables                                                                 65,119,449                     14,827,119

       5       Receivables in the form of Covered Bond                                                      -                            -

               Securities Companies and Other Financial Services Institutions
       6                                                                                            1,849,059                   2,010,121
               Receivables

               Receivables in the form of Securities/ Subordinated Receivables,
       7                                                                                                    -                            -
               Equity and Other Capital Instruments

       8       Loans Secured by Residential Property                                                 268,444                    2,043,888

       9       Loans Secured by Commercial Real Estate                                              4,463,898                   3,837,840

       10      Loan by Land Acquisition, Land Processing and Construction                            140,613                       70,953

       11      Loan by Employee or Pensioner                                                             487                        7,954

       12      Micro Business, Small Business, and Retail Portfolio Receivables                 23,678,992                     78,185,950

       13      Corporate Receivables                                                           289,375,841                    119,224,168

       14      Past Due Receivables                                                                 3,447,352                   2,172,037

       15      Other Assets                                                                                 -                            -

       TOTAL                                                                                   588,485,665                   297,236,391




866   PT Bank Mandiri (Persero) Tbk
Page 360
CORPORATE
 CORPORATE                      ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE
 GOVERNANCE                     & PRACTICES                       RESPONSIBILITY                            Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                                                                     (in million rupiah)

                                                           December 31, 2023


                                             Net Receivables by Remaining Contract Term


      > 3 years until 5 years                 > 5 years                    Non-Contractual                        Total


                       40,269,300                     192,512,450                                -                         456,854,221

                       14,628,993                         35,183,806                             -                         100,738,218


                                  -                                -                             -                                    -


                        2,321,795                          3,892,114                             -                          86,160,477

                                  -                                -                             -                                    -


                        3,401,375                            49,277                              -                            7,309,832


                                  -                                -                         2,970                               2,970


                        4,280,097                         46,736,098                             -                          53,328,528

                        3,000,138                          9,234,336                             -                          20,536,212

                          393,430                           654,675                              -                            1,259,671

                            7,337                            70,989                              -                              86,767

                       78,619,679                         58,674,249                             -                         239,158,870

                      140,889,978                     154,372,059                                -                         703,862,047

                        2,811,437                          1,432,145                             -                            9,862,971

                                  -                                -                   92,584,977                           92,584,977

                      290,623,559                     502,812,199                      92,587,947                         1,771,745,761




                                                                                                              ANNUAL REPORT 2023          867
Page 361
             MAIN                             Management                          Company                            MANAGEMENT DISCUSSION
             HIGHLIGHTS                       Report                              Profile                            AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



      ii. Disclosure of Net Receivables by Remaining Contract Term - Bank Consolidated with Subsidiaries

                                                                                                       December 31, 2023


       No.     Portfolio Category                                                        Net Receivables by Remaining Contract Term


                                                                                            ≤ 1 year                > 1 year until 3 years


       1       Government Receivables                                                              173,239,175                     58,008,541

       2       Public Sector Entities Receivables                                                   34,449,005                     17,032,675

               Multilateral Development Banks and International Institutions
       3                                                                                                        -                            -
               Receivables

       4       Bank Receivables                                                                     65,135,778                     15,122,909

       5       Receivables in the form of Covered Bond                                                          -                            -

               Securities Companies and Other Financial Services Institutions
       6                                                                                               1,849,059                    2,010,121
               Receivables


               Receivables in the form of Securities/ Subordinated Receivables,
       7                                                                                                        -                            -
               Equity and Other Capital Instruments


       8       Loans Secured by Residential Property                                                    268,575                     2,088,907

       9       Loans Secured by Commercial Real Estate                                                 4,463,898                    3,837,840

       10      Loan by Land Acquisition, Land Processing and Construction                               140,613                        70,953

       11      Loan by Employee or Pensioner                                                            125,735                    28,139,346

       12      Micro Business, Small Business, and Retail Portfolio Receivables                     33,517,119                    106,657,174

       13      Corporate Receivables                                                               290,167,508                    119,825,955

       14      Past Due Receivables                                                                    3,539,959                    2,306,857

       15      Other Assets                                                                            1,483,098                      178,493

       16      Exposure in Subsidiaries - Sharia                                                   104,217,166                     49,052,662

       TOTAL                                                                                       712,596,687                   404,332,432

       Information:
       For the position of 31 December 2023, the Economic Sector mapping refers to the template of the Credit
       Risk Publication Report according to SEOJK No. 24/SEOJK.03/2021.




868   PT Bank Mandiri (Persero) Tbk
Page 362
CORPORATE
 CORPORATE                      ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL           Financial
GOVERNANCE
 GOVERNANCE                     & PRACTICES                       RESPONSIBILITY                     Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                           December 31, 2023


                                             Net Receivables by Remaining Contract Term


      > 3 years until 5 years                 > 5 years                    Non-Contractual                Total


                       40,358,119                     192,752,617                      12,310,754                  476,669,205

                       14,628,993                         35,203,784                         1,324                 101,315,780


                                  -                                -                             -                            -


                        2,390,399                          3,892,114                      363,645                   86,904,845

                                  -                                -                             -                            -


                        3,401,375                            49,277                              -                    7,309,832



                                  -                                -                         2,970                       2,970



                        4,280,632                         46,738,464                             -                  53,376,577

                        3,000,138                          9,234,336                             -                  20,536,212

                          393,430                           654,675                              -                    1,259,671

                          662,025                          1,325,695                             -                  30,252,801

                       83,080,840                         58,748,220                             -                 282,003,353

                      141,643,817                     154,372,105                                -                 706,009,385

                        2,841,938                          1,433,579                             -                  10,122,333

                            4,630                                  -                   96,932,382                   98,598,603

                       44,632,841                     146,119,500                      13,248,384                  357,270,553

                      341,319,177                     650,524,367                     122,859,459                 2,231,632,121




                                                                                                      ANNUAL REPORT 2023          869
Page 363
             MAIN                               Management                            Company                           MANAGEMENT DISCUSSION
             HIGHLIGHTS                         Report                                Profile                           AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)

      4.	Disclosure of Receivables and Reserve by Region


      i. Disclosure of Receivables and Reserve by Region - Bank Only

                                                                                          December 31, 2023


                                                                                                 Region
       No.    Description


                                                             Sumatera                 Jakarta             Jawa               Kalimantan


       1      Receivables                                      148,623,607              633,390,954           175,055,807         61,870,786

       2      Claims with increased and worsening credit risk (Stage 2 and Stage 3)

              a. Outstanding                                    16,330,774               44,703,504            13,733,081          1,311,024

              b. Mature                                          1,899,908               20,044,108             5,290,976           314,087

       3      CKPN - Stage 1                                     1,485,534                4,639,460             2,051,900          1,028,303

       4      CKPN - Stage 2                                     1,532,279                9,232,960             3,147,086           305,723

       5      CKPN - Stage 3                                     1,502,201               10,341,859             4,020,818           175,396

       6      Written-off claims                                 2,916,908                9,290,260             3,588,070          1,009,876




      ii. Disclosure of Receivables and Reserve by Region - Consolidated


                                                                                          December 31, 2023


                                                                                                 Region
       No.    Description


                                                             Sumatera                 Jakarta             Jawa               Kalimantan


       1      Receivables*                                     214,384,647              792,517,449           270,959,283         84,082,873

       2      Claims with increased and worsening credit risk (Stage 2 and Stage 3)

              a. Outstanding                                    16,330,774               44,852,942            13,733,081          1,311,024

              b. Mature                                          1,899,908               20,225,698             5,290,976           314,087

              Impaired Receivables Subsidiaries -
       3                                                        65,761,040              159,126,496            95,903,476         22,212,087
              Sharia**

       4      CKPN - Stage 1                                     1,485,534                6,005,491             2,051,900          1,028,303

       5      CKPN - Stage 2                                     1,532,279                9,469,980             3,147,086           305,723

       6      CKPN - Stage 3                                     1,502,201               10,618,111             4,020,818           175,396

       7      CKPN in Subsidiaries - Sharia**                    1,710,959                 175,726              7,003,249           475,295

       8      Write-off Receivables*                             3,726,538                9,641,620             4,389,784          1,184,586

       Information:
       Including Exposure in Subsidiaries - Sharia *)
       Not adopting PSAK 71 “Financial Instruments” **)




870   PT Bank Mandiri (Persero) Tbk
Page 364
CORPORATE
 CORPORATE              ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE
 GOVERNANCE             & PRACTICES                   RESPONSIBILITY                         Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)


                                                                                                     (in million rupiah)

                                             December 31, 2023


                                                      Region


                        Bali & Nusa
  Sulawesi & Maluku                       Papua                Kantor Pusat       Overseas                 Total
                         Tenggara

          50,677,715         31,705,025      8,572,542             777,507,840      162,389,113           2,049,793,389



           6,752,499          2,163,392       336,464               10,511,933          472,046              96,314,716

              502,635           187,835       106,203                1,955,094               94              30,300,940

              773,903           261,449       198,824                  790,405          554,610              11,784,388

              860,528           601,841           56,781               508,286          142,639              16,388,122

              285,547           107,930           55,569               408,333               76              16,897,729

              579,346           260,308       205,784                   13,034                -              17,863,586




                                                                                                     (in million rupiah)


                                             December 31, 2023


                                                      Region


                        Bali & Nusa
  Sulawesi & Maluku                       Papua                Head Office        Overseas                 Total
                         Tenggara

          64,070,905         38,174,693      9,415,289             880,647,197      162,389,113           2,516,641,450



           6,752,499          2,163,392       336,464               10,511,933          472,046              96,464,154

              502,635           187,835       106,203                1,955,094               94              30,482,530

          13,393,190          6,469,668       842,747                         -               -             363,708,704

              773,903           261,449       198,824                  790,405          554,610              13,150,419

              860,528           601,841           56,781               508,286          142,639              16,625,142

              285,547           107,930           55,569               408,333               76              17,173,981

              365,918           169,014           10,313                      -               -               9,910,474

              732,245           368,125       206,731                   13,034                -              20,262,663




                                                                                                  ANNUAL REPORT 2023       871
Page 365
             MAIN                              Management                   Company                          MANAGEMENT DISCUSSION
             HIGHLIGHTS                        Report                       Profile                          AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)

      5) Disclosure of Receivables and Reserve by Economic Sector




      i. Disclosure of Receivables and Reserve by Economic Sector - Bank Only


                                                                                      Impaired Receivables (Stage 2 & Stage 3)
       No.     Economic Sectors                                  Receivables

                                                                                       Not Yet Due              Already Due

       December 31, 2023

         1     Agriculture, Forestry, and Fisheries                    128,074,810             16,458,041                1,042,082

         2     Mining and Extracting                                   138,439,685              6,726,292                  14,498

         3     Processing Industry                                     189,631,300             11,614,339               11,192,027

         4     Electricity, Gas, Hot Water and Cold Water               59,264,663              4,616,993                        185

               Water Management, Waste Management,
         5                                                                544,566                        -                       52
               Garbage Management and Recycling

         6     Construction                                             86,378,718             14,360,606                7,703,392
               Wholesale and Retail Trade; Car and
         7                                                             107,647,368              3,852,354                1,057,950
               Motorcycle Repair & Maintenance
         8     Transportation & Warehousing                             65,984,621              7,428,604                 925,708

         9     Accommodation and Restaurants                            21,195,669              5,399,848                 120,833

        10     Information and Communications                           29,519,122                84,840                      4,701

        11     Finance and Insurance Activities                         64,545,445               437,140                   45,123

        12     Real Estate                                              34,221,263              6,500,902                  51,415

        13     Professional, Science, and Technical Activities           7,285,847                   7,984                    4,369
               Lease and Lease without Option Rights, Labor,
        14     Travel Agents, and Other Business Support                14,175,030                54,199                   79,825
               Activities
               Government, Defense, and Mandatory Social
        15                                                              68,819,601                       -                         -
               Security Administration
        16     Education                                                  546,358                 20,429                         675

        17     Human Health and Social Activities                        8,117,456               309,995                   11,124

        18     Arts, Entertainment, and Recreation                        169,517                    2,075                    7,633

        19     Other Services Activities                                28,233,629               322,571                   49,458
               Household Activities as
               Employer: Activities that produce goods and
        20                                                                 29,652                    2,786                       844
               services by households that are used to meet
               their own needs
               International Agencies and Other
        21                                                                828,734                        -                         -
               Extra- International Agencies Activities
        22     Household                                               201,110,760              5,347,444                3,817,443

        23     Non-Business                                             52,216,639               415,424                  227,725

        24     Others                                                  742,812,937             12,351,851                3,943,879
               Total                                                 2,049,793,389            96,314,716                30,300,940




872   PT Bank Mandiri (Persero) Tbk
Page 366
CORPORATE
 CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                       RESPONSIBILITY                          Statements 2023




        Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                                                                                          (in million rupiah)



    Allowance for Impairment      Allowance for Impairment        Allowance for Impairment
                                                                                                  Written-off Receivables
     losses (CKPN) – Stage 1       losses (CKPN) – Stage 2         losses (CKPN) – Stage 3




                      1,915,199                      845,610                         402,025                         622,503

                       444,598                       330,879                          10,180                                885

                       921,638                      4,101,864                       8,011,940                        706,439

                       305,107                      1,046,281                                83                               -

                         3,725                               -                               30                               -

                       707,349                      4,014,041                       3,597,603                           3,464

                      1,442,282                      827,137                         673,288                        2,672,843

                       329,030                       556,611                          57,315                           53,112

                       253,427                       871,469                          73,047                         164,964

                       107,081                        10,625                            2,807                                 -

                       303,768                       199,609                          27,712                         101,495

                       286,252                      1,214,516                           3,606                                 -

                        41,862                           570                            2,756                           2,974


                       106,850                         7,397                          56,153                           48,039


                           132                               -                                -                               -

                         7,135                         8,083                             393                            2,789

                        59,765                        65,391                            7,086                          10,047

                         1,943                           183                            4,919                               151

                       112,620                        43,997                          29,691                           48,626


                           279                           273                             442                            1,254



                         1,994                               -                                -                               -

                      3,497,754                     1,494,947                       2,343,297                       3,376,284

                       351,797                        20,665                         169,700                         313,071

                       582,804                       727,973                        1,423,655                       9,734,648

                    11,784,388                    16,388,122                      16,897,729                      17,863,589




                                                                                                      ANNUAL REPORT 2023          873
Page 367
             MAIN                             Management                   Company                           MANAGEMENT DISCUSSION
             HIGHLIGHTS                       Report                       Profile                           AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



      ii. Disclosure of Receivables and Reserve by Economic Sector - Consolidated

                                                                               Impaired Receivables
                                                                                (Stage 2 & Stage 3)                 Receivables
                                                                                                                   Impairment in
       No.    Economic Sectors                        Receivables*
                                                                                                                    Subsidiaries -
                                                                         Not Yet Due          Already Due             Sharia**


       December 31, 2023

       1      Agriculture, Forestry, and Fisheries         145,975,559         16,458,041              1,042,082            227,749

       2      Mining and Extracting                        140,855,811          6,726,292                14,498               3,135

       3      Processing Industry                          189,631,300         11,614,339             11,192,027                     -

              Electricity, Gas, Hot Water and Cold
       4                                                    64,034,072          4,616,993                   185              79,878
              Water

              Water Management, Waste
       5      Management, Garbage                           12,377,894                  -                    52             168,536
              Management and Recycling

       6      Construction                                 106,322,674         14,360,606              7,703,392            578,558

              Wholesale and Retail Trade;
       7      Car and Motorcycle Repair &                  125,286,146          3,852,354              1,057,950            614,899
              Maintenance

       8      Transportation & Warehousing                  74,348,670          7,428,604               925,708              48,957

       9      Accommodation and Restaurants                 23,958,571          5,399,848               120,833              59,705

       10     Information and Communications                29,519,122            84,840                  4,701                      -

       11     Finance and Insurance Activities              70,555,348           437,140                 45,123              32,549

       12     Real Estate                                   38,134,756          6,500,902                51,415              42,946

              Professional, Science, and Technical
       13                                                    7,285,847             7,984                  4,369                      -
              Activities

              Lease and Lease without Option
       14     Rights, Labor, Travel Agents, and             14,175,030            54,199                 79,825                      -
              Other Business Support Activities

              Government, Defense, and
       15     Mandatory Social Security                     68,819,601                  -                      -                     -
              Administration

       16     Education                                      5,072,990            20,429                    675              19,402

       17     Human Health and Social Activities            15,029,029           309,995                 11,124              21,500

       18     Arts, Entertainment, and Recreation            3,490,688             2,075                  7,633              73,222

       19     Other Services Activities                     28,233,629           322,571                 49,458                      -

              Household Activities as
              Employer: Activities that produce
       20     goods and services by households                190,727              2,786                    844               6,445
              that are used to meet their own
              needs




874   PT Bank Mandiri (Persero) Tbk
Page 368
CORPORATE
 CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                          Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                                    Statements 2023




       Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



                                                                                                                  (in million rupiah)



       Allowance for             Allowance for           Allowance for
                                                                                CKPN in Subsidiaries -
     Impairment losses         Impairment losses       Impairment losses                                      Write-off Receivables*
                                                                                      Sharia**
      (CKPN) – Stage 1          (CKPN) – Stage 2        (CKPN) – Stage 3




                1,915,199                   845,610                 402,025                    628,803                         857,712

                  444,598                   330,879                  10,180                      25,569                         15,075

                  921,638                 4,101,864               8,011,940                              -                     706,439

                  305,107                 1,046,281                        83                  309,102                            638



                    3,725                          -                       30                 1,572,435                        118,677


                  707,349                 4,014,041               3,597,603                   2,651,998                        111,687


                1,442,282                   827,137                 673,288                    921,966                      3,298,865


                  329,030                   556,611                  57,315                    290,475                          85,405

                  253,427                   871,469                  73,047                    113,973                         203,712

                  107,081                     10,625                  2,807                              -                             -

                  303,768                   199,609                  27,712                    113,872                         105,181

                  286,252                 1,214,516                   3,606                    110,587                          81,199

                   41,862                       570                   2,756                              -                       2,974



                  106,850                      7,397                 56,153                              -                      48,039



                     132                           -                        -                            -                             -


                    7,135                      8,083                   393                       82,959                         38,637

                   59,765                     65,391                  7,086                      98,972                         15,110

                    1,943                       183                   4,919                    145,941                          76,490

                  112,620                     43,997                 29,691                              -                      48,626



                     279                        273                    442                        8,907                          7,773




                                                                                                              ANNUAL REPORT 2023           875
Page 369
             MAIN                          Management                           Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                    Report                               Profile                               AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



      ii. Disclosure of Receivables and Reserve by Economic Sector - Consolidated

                                                                                    Impaired Receivables
                                                                                     (Stage 2 & Stage 3)                     Receivables
                                                                                                                            Impairment in
       No.    Economic Sectors                        Receivables*
                                                                                                                             Subsidiaries -
                                                                             Not Yet Due                Already Due            Sharia**


       December 31, 2023

              International Agencies and
       21     Other Extra- International                      828,734                        -                         -                      -
              Agencies Activities

       22     Household                                   201,110,760                5,347,444                 3,817,443                      -

       23     Non-Business                                184,139,622                 415,424                   227,725            2,207,163

       24     Others                                      967,264,871               12,501,289                 4,125,469                      -

              TOTAL                                     2,516,641,450               96,464,154                30,482,530           4,184,644

       Information:
       • Including Exposure in Subsidiaries - Sharia *)
       • Not adopting PSAK 71 “Financial Instruments” **)
       • For 31 December 2023, economic sector mapping refers to the Risk Publication Report template
       • Credit according to SEOJK No. 24/SEOJK.03/2021




876   PT Bank Mandiri (Persero) Tbk
Page 370
CORPORATE
 CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                         Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                                   Statements 2023




       Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)



                                                                                                                 (in million rupiah)



       Allowance for             Allowance for           Allowance for
                                                                               CKPN in Subsidiaries -
     Impairment losses         Impairment losses       Impairment losses                                     Write-off Receivables*
                                                                                     Sharia**
      (CKPN) – Stage 1          (CKPN) – Stage 2        (CKPN) – Stage 3




                    1,994                          -                       -                            -                             -


                3,497,754                 1,494,947               2,343,297                             -                  3,376,284

                  351,797                     20,665                169,700                  2,612,903                     1,314,885

                1,948,835                   964,993               1,699,907                   222,012                     10,358,220

               13,150,419                16,625,142              17,173,981                  9,910,474                   20,871,629




                                                                                                             ANNUAL REPORT 2023           877
Page 371
             MAIN                           Management                Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                     Report                    Profile                               AND ANALYSIS




      Credit Risk - Additional Disclosures on Credit Quality
      of Assets (CRB)

      6) Disclosure of Receivables on Delinquent Days




      i. Disclosure of Receivables Based on Delinquent Days - Bank Only

                                                                                        December 31, 2023


                                                                                    Receivables by Past Due Days
       No.    Exposure Type

                                                              > 90 days until        > 120 days
                                                                                                      >180 days       Total
                                                                 120 days           until 180 days

       1      Loan included in Past Due Receivables                 2,289,310            4,322,560       4,387,667    10,999,537

       2      Securities included in Past Due Receivables                       -                -          39,496       39,496

              TOTAL                                                 2,289,310            4,322,560       4,427,163    11,039,033




      ii. Disclosure of Receivables Based on Delinquent Days - Consolidated

                                                                                        December 31, 2023


                                                                                    Receivables by Past Due Days
       No.    Exposure Type

                                                              > 90 days until        > 120 days
                                                                                                      >180 days       Total
                                                                 120 days           until 180 days

       1      Loan included in Past Due Receivables                 3,825,585            5,238,019       7,069,987    16,133,591

       2      Securities included in Past Due Receivables                       -                -        138,496       138,496

              TOTAL                                                 3,825,585            5,238,019       7,208,483    16,272,087




878   PT Bank Mandiri (Persero) Tbk
Page 372
CORPORATE
 CORPORATE       ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL   Financial
GOVERNANCE
 GOVERNANCE      & PRACTICES                      RESPONSIBILITY             Statements 2023




      Credit Risk - Additional Disclosures on Credit Quality of Assets (CRB)




                                   This page is intentionally left blank




                                                                              ANNUAL REPORT 2023   879
Page 373
            MAIN                          Management                   Company                                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                       Profile                                   AND ANALYSIS




      Additional Disclosures related to the Treatment of Non-
      Performing Assets (CRB-A)




      Qualitative
      1) Disclosure of Performing and Non-Performing Assets




      i. Disclosure of Performing and Non-Performing Assets - Bank Only

                                                                                                                    Non Performing
                                                                                                                   (Kualitas KL, D, M)
                                                                                Performing
                                                                          (Quality of L and DPLK)
                                                                                                                       Impaired
                                                                                                                      Receivables


                                                                 Gross Carrying                                      Gross Carrying
                                                                                              CKPN
                                                                    Amount                                              Amount


                                                                       a                        b                          c

       1     Securities                                                241,932,677                     14,614                    39,496

       2     Loan                                                     1,074,787,890                 26,861,649              10,999,537

             a. Corporate                                              722,075,061                  17,211,109                 5,638,224

             b. Retail                                                 352,712,829                   9,650,540                 5,361,313

       3     Administrative Account Transactions                       363,189,679                   1,137,753                  287,690




      ii. Disclosure of Performing and Non-Performing Assets - Bank Consolidated with Subsidiaries

                                                                                                                    Non Performing
                                                                                                                   (Kualitas KL, D, M)
                                                                                Performing
                                                                          (Quality of L and DPLK)
                                                                                                                       Impaired
                                                                                                                      Receivables


                                                                 Gross Carrying                                      Gross Carrying
                                                                                              CKPN
                                                                    Amount                                              Amount


                                                                       a                        b                          c

       1     Securities                                                363,023,678                     21,089                   138,496

       2     Loan                                                     1,343,698,604                 27,811,178              16,133,591

             a. Corporate                                              722,075,061              17211108,74                    5,638,224

             b. Retail                                                 621,623,543                  10,600,069              10,495,367

       3     Administrative Account Transactions                       366,466,822                    947,847                   118,963




880   PT Bank Mandiri (Persero) Tbk
Page 374
CORPORATE
 CORPORATE                ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                      Financial
GOVERNANCE
 GOVERNANCE               & PRACTICES                              RESPONSIBILITY                                Statements 2023




                  Pengungkapan Tambahan terkait Perlakuan terhadap Aset Non
                                                         Performing (CRB-A)




                                                                                                 (in million rupiah)

                                                Non Performing
                                              (Quality of KL, D, M)


                                                      Not Impaired Receivables


                               Have Arrears > 90 Days                               Have Arrears ≤ 90 Days


                         Gross Carrying                                   Gross Carrying
       CKPN                                          CKPN                                              CKPN
                            Amount                                           Amount


         d                     e                        f                           g                    h

               24,850                     -                         -                       -                    -

         15,473,730                       -                         -                       -                    -

         12,033,662                       -                         -                       -                    -

             3,440,068                    -                         -                       -                    -

              163,893                     -                         -                       -                    -




                                                                                                                        (in million rupiah)

                                                              Non Performing
                                                            (Quality of KL, D, M)


                                                      Not Impaired Receivables
                                                                                                                        CKPN Exposure -
                                                                                                                            Sharia
                               Have Arrears > 90 Days                               Have Arrears ≤ 90 Days


                         Gross Carrying                                   Gross Carrying
       CKPN                                          CKPN                                              CKPN
                            Amount                                           Amount


         d                     e                        f                           g                    h

               24,850                     -                         -                       -                    -                 132,506

         15,624,069                       -                         -                       -                    -               9,675,229

         12,033,662                       -                         -                       -                    -                        -

             3,590,407                    -                         -                       -                    -               9,675,229

              163,893                     -                         -                       -                    -                  32,018




                                                                                                                     ANNUAL REPORT 2023       881
Page 375
            MAIN                          Management                      Company                               MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                          Profile                               AND ANALYSIS




      Additional Disclosures related to the Treatment of Non-
      Performing Assets (CRB-A)

      2) Disclosure of Performing and Non-Performing Restructuring Assets




      i. Disclosure of Performing and Non-Performing Restructuring Assets - Bank Only

                                                                   Performing                               Non Performing
                                                             (Quality of L and DPLK)                       (Kualitas KL, D, M)


                                                       Gross Carrying
                                                                                CKPN             Gross Carrying             CKPN
                                                          Amount


                                                             a                    b                    c                         d

       1     Securities                                    241,932,677                  14,614              39,496                    24,850

       2     Loan                                         1,074,787,890           26,861,649           10,999,537                15,473,730

             a. Corporate                                  722,075,061            17,211,109            5,638,224                12,033,662

             b. Retail                                     352,712,829             9,650,540            5,361,313                 3,440,068

       3     Administrative Account Transactions           363,189,679             1,137,753               287,690                   163,893




      ii. Disclosure of Performing and Non-Performing Restructuring Assets - Consolidated

                                                                   Performing                             Non Performing
                                                             (Quality of L and DPLK)                    (Quality of KL, D, M)


                                                       Gross Carrying
                                                                                CKPN             Gross Carrying             CKPN
                                                          Amount


                                                             a                    b                    c                         d

       1     Securities                                    363,023,678                  21,089             138,496                    24,850

       2     Loan                                         1,343,698,604           27,811,178           16,133,591                15,624,069

             a. Corporate                                  722,075,061            17,211,109            5,638,224                12,033,662

             b. Retail                                     621,623,543            10,600,069           10,495,367                 3,590,407

       3     Administrative Account Transactions           366,466,822                 947,847             118,963                   163,893




882   PT Bank Mandiri (Persero) Tbk
Page 376
CORPORATE
 CORPORATE                     ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE
 GOVERNANCE                    & PRACTICES                          RESPONSIBILITY                              Statements 2023




        Additional Disclosures related to the Treatment of Non-Performing
                                                             Assets (CRB-A)




                                                                                                                       (in million rupiah)


                     Stage 1                                        Stage 2                                     Stage 3


    Gross Carrying                                 Gross Carrying                              Gross Carrying
                                 CKPN                                         CKPN                                          CKPN
       Amount                                         Amount                                      Amount


          e                        f                     g                     h                     i                         j

         241,932,677                     14,614                      -                     -               39,496                    24,850

         976,031,424               11,201,507            83,494,398            15,660,142            26,261,605                15,473,730

         634,366,272                   4,274,822         73,181,338            13,308,501            20,165,676                11,661,447

         341,665,152                   6,926,685         10,313,060                2,351,641             6,095,929                 3,812,283

         346,464,208                    471,778          12,820,318                 476,059              3,999,839                  163,893




                                                                                                                       (in million rupiah)


       Stage 1                                                      Stage 2                                     Stage 3


    Gross Carrying                                 Gross Carrying                              Gross Carrying
                                 CKPN                                         CKPN                                          CKPN
       Amount                                         Amount                                      Amount


          e                        f                     g                     h                     i                         j

         291,668,927                     21,089                      -                     -               39,496                    24,850

        1,011,837,932              12,054,797            83,643,531            15,756,381            26,443,195                15,624,069

         634,366,272                   4,274,822         73,181,338            13,308,501            20,165,676                11,661,447

         377,471,660                   7,779,975         10,462,193                2,447,880             6,277,519                 3,962,622

         345,948,595                    471,888          12,820,623                 475,959              3,999,839                  163,893




                                                                                                                     ANNUAL REPORT 2023        883
Page 377
            MAIN                              Management                      Company                         MANAGEMENT DISCUSSION
            HIGHLIGHTS                        Report                          Profile                         AND ANALYSIS




      Quantitative Disclosure on Credit Risk Mitigation
      Techniques (CR3)




      1) Bank Only




                                                           Not Guaranteed Receivables Using      Guaranteed Receivables Using MRK
                                                                   MRK Techniques                          Techniques


                                                                          a                                     b

       1       Loan                                                              1,085,787,427                           62,285,170

       2       Securities                                                         241,972,173                                       -

       3       Total                                                             1,327,759,600                           62,285,170

       4       Past Due Loan and Securities                                        24,511,295                               230,419




      2) Consolidated



                                                           Not Guaranteed Receivables Using      Guaranteed Receivables Using MRK
                                                                   MRK Techniques                          Techniques


                                                                          a                                     b

       1       Loan                                                              1,359,832,195                           89,885,708

       2       Securities                                                         363,162,174                                       -

       3       Total                                                             1,722,994,369                           89,885,708

       4       Past Due Loan and Securities                                        30,037,756                               358,799




884   PT Bank Mandiri (Persero) Tbk
Page 378
CORPORATE
 CORPORATE                ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE               & PRACTICES                         RESPONSIBILITY                           Statements 2023




              Quantitative Disclosure on Credit Risk Mitigation Techniques (CR3)




                                                                                                       (in million rupiah)

                                                Guaranteed Receivables by
                                                                                      Receivables Secured by Credit
   Guaranteed Receivables by Collateral       Guarantee, Security and/or Credit
                                                                                               Derivatives
                                                         Insurance


                    c                                        d                                     e

                              39,019,549                                23,265,621

                                          -                                       -

                              39,019,549                                23,265,621

                                  39,055                                  191,364




                                                Guaranteed Receivables by
                                                                                      Receivables Secured by Credit
   Guaranteed Receivables by Collateral       Guarantee, Security and/or Credit
                                                                                               Derivatives
                                                         Insurance


                    c                                        d                                     e

                              53,600,441                                36,285,267

                                          -                                       -

                              53,600,441                                36,285,267

                                  41,297                                  317,502




                                                                                                        ANNUAL REPORT 2023   885
Page 379
            MAIN                             Management                         Company                         MANAGEMENT DISCUSSION
            HIGHLIGHTS                       Report                             Profile                         AND ANALYSIS




      Disclosure of Credit Risk Exposure and Impact of Credit
      Risk Mitigation Techniques (CR4)




      1) Bank Only




                                                                           Net Receivables Before Implementation of FKK and MRK
                                                                                                Techniques


       Portfolio Category
                                                                      Statement of Financial Position               TRA


                                                                                    a                                b

       1       Government Receivables                                                      433,363,693                      41,685,216

       2       Public Sector Entities Receivables                                           82,531,443                      65,795,204

               Multilateral Development Banks and International
       3                                                                                                -                               -
               Institutions Receivables

       4       Bank Receivables                                                             59,774,718                      30,214,062

               Securities Companies and Other Financial Services
       5                                                                                     7,289,111                            201,443
               Institutions Receivables1)

       6       Receivables in the form of Covered Bond                                                  -                               -

               Corporate Receivables - General Corporate
                                                                                           510,530,495                     169,867,464
               Exposure2)
       7
               Securities Companies and Other Financial Services
                                                                                                        -                               -
               Institutions Receivables3)

       8       Special Financing Exposure4)                                                129,707,791                      13,189,564

               Receivables in the form of Securities/Subordinated
       9                                                                                         2,970                                  -
               Receivables, Equity and Other Capital Instruments

               Micro Business, Small Business, and Retail Portfolio
       10                                                                                  235,428,321                      35,208,755
               Receivables

               Loans Secured by Real Estate                                                 73,000,053                       3,771,349

               Loans Secured by Residential Property which
               the payments Are Not Materially Dependent on                                 53,328,367                               700
               Property Cash Flow

               Loans Secured by Residential Property which the
               payments Are Materially Dependent on Property                                            -                               -
       11      Cash Flow

               Loans Secured by Commercial Property which
               the payments Are Not Materially Dependent on                                 10,252,881                       3,559,852
               Property Cash Flow

               Loans Secured by Commercial Property which the
               payments Are Materially Dependent on Property                                 9,418,805                            210,796
               Cash Flow

               Loan by Land Acquisition, Land Processing and
       12                                                                                    1,194,520                            651,519
               Construction




886   PT Bank Mandiri (Persero) Tbk
Page 380
CORPORATE
 CORPORATE                    ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE                   & PRACTICES                      RESPONSIBILITY                          Statements 2023




                                    Disclosure of Credit Risk Exposure and Impact of Credit
                                                             Risk Mitigation Techniques (CR4)




                                                                                                          (in million rupiah)


      Net Receivables After Implementation of FKK and MRK                        RWA and Average Risk Weight


     Statement of Financial                                                                         Average Risk Weight
                                                TRA                         RWA
           Position                                                                                      (e/(c+d))


               c                                d                            e                                 f

                    433,363,693                       11,942,984                      125,624                            0.03%

                     79,049,762                       17,528,946                    36,417,719                       37.71%

                                -                              -                             -                           0.00%

                     59,591,842                       14,918,048                    19,576,324                       26.27%

                      7,278,827                          20,000                      4,210,364                       57.69%

                                -                              -                             -                           0.00%

                    484,571,721                       55,071,008                   468,303,232                       86.78%


                                -                              -                             -                           0.00%

                    127,565,322                        2,419,305                   134,912,298                      103.79%

                          2,970                                -                         4,455                      150.00%


                    205,906,804                        3,704,648                   161,489,453                       77.04%

                     72,970,571                         864,687                     53,666,430                       72.68%


                     53,328,367                             161                     36,626,390                       68.68%



                                -                              -                             -                           0.00%



                     10,223,399                         837,165                      9,548,934                       86.33%



                      9,418,805                          27,361                      7,491,106                       79.30%



                      1,194,520                          65,152                      1,889,507                      150.00%




                                                                                                        ANNUAL REPORT 2023       887
Page 381
            MAIN                            Management                       Company                          MANAGEMENT DISCUSSION
            HIGHLIGHTS                      Report                           Profile                          AND ANALYSIS




      Disclosure of Credit Risk Exposure and Impact of Credit
      Risk Mitigation Techniques (CR4)




                                                                        Net Receivables Before Implementation of FKK and MRK
                                                                                             Techniques


       Portfolio Category
                                                                   Statement of Financial Position                TRA


                                                                                 a                                 b

       13      Past Due Receivables                                                       9,655,369                        2,064,829

       14      Other Assets                                                              92,952,370                                   -

       15      Total                                                                  1,635,430,852                      362,649,404




      2) Consolidated




                                                                         Net Receivables Before Implementation of FKK and MRK
                                                                                              Techniques



       Portfolio Category
                                                                   Statement of Financial Position                TRA




                                                                                  a                                b

       1       Government Receivables                                                   446,695,878                       41,685,216

       2       Public Sector Entities Receivables                                         83,109,005                      65,795,204

               Multilateral Development Banks and International
       3                                                                                             -                                -
               Institutions Receivables

       4       Bank Receivables                                                           60,772,597                      30,214,062

               Securities Companies and Other Financial Services
       5                                                                                   7,289,111                            201,443
               Institutions Receivables1)

       6       Receivables in the form of Covered Bond                                               -                                -

               Corporate Receivables - General Corporate
                                                                                        512,677,708                      169,867,775
               Exposure2)
       7
               Securities Companies and Other Financial Services
                                                                                                     -                                -
               Institutions Receivables3)

       8       Special Financing Exposure4)                                             129,707,791                       13,189,564




888   PT Bank Mandiri (Persero) Tbk
Page 382
CORPORATE
 CORPORATE                    ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE                   & PRACTICES                       RESPONSIBILITY                           Statements 2023




                                    Disclosure of Credit Risk Exposure and Impact of Credit
                                                             Risk Mitigation Techniques (CR4)




                                                                                                            (in million rupiah)


      Net Receivables After Implementation of FKK and MRK                         RWA and Average Risk Weight


     Statement of Financial                                                                           Average Risk Weight
                                                TRA                          RWA
           Position                                                                                        (e/(c+d))


                c                               d                             e                                 f

                        9,424,949                          66,843                     8,264,535                         87.07%

                      92,952,370                                -                    72,085,123                         77.55%

                    1,573,873,351                     106,601,621                   960,945,064                         57.18%




                                                                                                              (in million rupiah)

       Net Receivables After Implementation of FKK and MRK
                                                                                   RWA and Average Risk Weight
                            Techniques



                                                                                                       Average Risk Weight
  Statement of Financial Position               TRA                           RWA
                                                                                                            (e/(c+d))



                c                                d                             e                                    f

                      446,695,878                       11,942,984                       125,624                             0.03%

                       79,627,325                       17,528,946                    36,745,127                            37.82%

                                -                                   -                             -                          0.00%

                       60,578,721                       14,918,048                    19,819,697                            26.25%

                        7,278,827                           20,000                     4,210,364                            57.69%

                                -                                   -                             -                          0.00%

                      486,718,934                       55,071,133                   470,409,186                            86.82%


                                -                                   -                             -                          0.00%

                      127,565,322                        2,419,305                   134,912,298                        103.79%




                                                                                                          ANNUAL REPORT 2023         889
Page 383
            MAIN                             Management                         Company                         MANAGEMENT DISCUSSION
            HIGHLIGHTS                       Report                             Profile                         AND ANALYSIS




      Disclosure
      Disclosure ofof
                   Credit
                      Credit
                         RiskExposure
                              Risk Exposure
                                      andImpact
                                            andof
                                                Impact
                                                  CreditRisk
                                                        of Mitigation
                                                             Credit  Techniques(CR4)
      Risk Mitigation Techniques (CR4)




                                                                           Net Receivables Before Implementation of FKK and MRK
                                                                                                Techniques



       Portfolio Category
                                                                      Statement of Financial Position               TRA




                                                                                    a                                b

               Receivables in the form of Securities/Subordinated
       9                                                                                         2,970                                  -
               Receivables, Equity and Other Capital Instruments

               Micro Business, Small Business, and Retail Portfolio
       10                                                                                  308,433,807                      35,209,960
               Receivables

               Loans Secured by Real Estate                                                 73,048,102                       3,771,349

               Loans Secured by Residential Property which
               the payments Are Not Materially Dependent on                                 53,376,416                               700
               Property Cash Flow

               Loans Secured by Residential Property which the
               payments Are Materially Dependent on Property                                            -                               -
       11      Cash Flow

               Loans Secured by Commercial Property which
               the payments Are Not Materially Dependent on                                 10,252,881                       3,559,852
               Property Cash Flow

               Loans Secured by Commercial Property which the
               payments Are Materially Dependent on Property                                 9,418,805                            210,796
               Cash Flow

               Loan by Land Acquisition, Land Processing and
       12                                                                                    1,194,520                            651,519
               Construction

       13      Past Due Receivables                                                          9,914,731                       2,064,829

       14      Other Assets                                                                 98,598,603                                  -

       15      Exposure in Subsidiaries - Sharia                                           354,066,765                       3,203,788

       16      Total                                                                     2,085,511,587                     365,854,708




890   PT Bank Mandiri (Persero) Tbk
Page 384
CORPORATE
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                         Statements 2023




 DisclosureofCreditDisclosure
                   RiskExposureof
                               andCredit
                                   ImpactRisk
                                         ofCredit
                                              Exposure
                                                  RiskMitigation
                                                         and Impact
                                                                Techniques
                                                                     of Credit
                                                                          (CR4)
                                             Risk Mitigation Techniques (CR4)




                                                                                                          (in million rupiah)

       Net Receivables After Implementation of FKK and MRK
                                                                                 RWA and Average Risk Weight
                            Techniques



                                                                                                    Average Risk Weight
  Statement of Financial Position             TRA                           RWA
                                                                                                         (e/(c+d))



                c                              d                             e                                 f


                            2,970                              -                         4,455                      150.00%


                     278,885,051                      3,705,130                    208,760,127                         73.87%

                       73,018,620                       864,687                     53,683,573                         72.66%


                       53,376,416                            161                    36,643,533                         68.65%



                                -                              -                              -                         0.00%



                       10,223,399                       837,165                       9,548,934                        86.33%



                        9,418,805                        27,361                       7,491,106                        79.30%



                        1,194,520                        65,152                       1,889,507                     150.00%

                        9,684,311                        66,843                       8,513,285                        87.31%

                       98,598,603                              -                    77,513,437                         78.62%

                     313,933,490                      2,784,531                    145,245,102                         45.86%

                    1,983,782,572                   109,386,758                   1,161,831,782                        55.51%




                                                                                                       ANNUAL REPORT 2023       891
Page 385
            MAIN                          Management                                   Company                            MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                                       Profile                            AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




      1) Bank Only




       Portfolio Category                                0%                                      20%                                  50%



       1     Government Receivables                               456,226,101                                 628,120                   -




       Portfolio Category                                     20%                                                        50%


             Public Sector Entities
       2                                                                            39,572,116                                                 57,523,266
             Receivables




       Portfolio Category                                0%                                      20%                           30%                50%


             Multilateral Development
       3     Banks and International                      -                                       -                             -                   -
             Institutions Receivables




       Portfolio Category                      20%                          30%                        40%                     50%                75%


       4     Bank Receivables                        53,910,219                      5,168,536              26,128,440               391,376       5,016

             Securities Companies and
             Other Financial Services                  419,227                       2,295,959          -                       -               4,583,641
             Institutions Receivables1)




       Portfolio Category                      10%                          15%                        20%                     25%                35%


             Receivables in the form of
       5                                         -                              -                       -                       -                   -
             Covered Bond




892   PT Bank Mandiri (Persero) Tbk
Page 386
CORPORATE
 CORPORATE               ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL          Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                      RESPONSIBILITY                    Statements 2023




                          Exposure Disclosure by Asset Class and Risk Weights (CR5)




                                                                                                         (in million rupiah)



                                                                                     Net Receivables After FKK and MRK
          100%                              150%                           Others
                                                                                                Techniques


              -                              -                               -                               456,854,221




                                                                                     Net Receivables After FKK and MRK
          100%                              150%                           Others
                                                                                                Techniques


              -                              -                               -                                97,095,381




                                                                                     Net Receivables After FKK and MRK
                  100%                             150%                    Others
                                                                                                Techniques


                   -                                -                        -                       -




                                                                                     Net Receivables After FKK and MRK
                  100%                             150%                    Others
                                                                                                Techniques

                                3,671               0                        -                                85,607,258


                   -                                -                        -                                  7,298,827




                                                                                     Net Receivables After FKK and MRK
                  50%                              100%                    Others
                                                                                                Techniques


-                                       -                                    -                       -




                                                                                              ANNUAL REPORT 2023               893
Page 387
            MAIN                              Management                    Company                MANAGEMENT DISCUSSION
            HIGHLIGHTS                        Report                        Profile                AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)



       Portfolio Category                          20%                50%             65%             75%              80%


             Corporate Receivables
             - General Corporate                     51,012,952         30,157,227          -            2,426,601
             Exposure2)

       6     Securities Companies and
             Other Financial Services                                                       -
             Institutions Receivables3)

             Special Financing Exposure4)                                                                            2,428,244




       Portfolio Category                                     100%                          150%                      250%


             Receivables in the form of
             Securities/Subordinated
       7                                                          -                                         2,970       -
             Receivables, Equity and
             Other Capital Instruments




       Portfolio Category                                     45%                           75%                        85%


             Micro Business, Small
       8     Business, and Retail Portfolio                                 302,667                    205,783,043   3,210,722
             Receivables




894   PT Bank Mandiri (Persero) Tbk
Page 388
CORPORATE
 CORPORATE                       ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL          Financial
GOVERNANCE
 GOVERNANCE                      & PRACTICES                   RESPONSIBILITY                    Statements 2023




                                  Exposure Disclosure by Asset Class and Risk Weights (CR5)



                                                                                          Net Receivables After FKK and MRK
  85%                100%                  130%                150%             Others
                                                                                                     Techniques


99,186,681               358,538,599                                    2,039     -                             541,324,099



                                                                                  -                                       -


                         109,511,984          18,044,398                          -                             129,984,627




                                                                                          Net Receivables After FKK and MRK
              250%                                    400%                      Others
                                                                                                     Techniques



                 -                                         -                      -                                   2,970




                                                                                          Net Receivables After FKK and MRK
              85%                                     100%                      Others
                                                                                                     Techniques


             3,210,722                                                231,187     0                             209,527,619




                                                                                                   ANNUAL REPORT 2023         895
Page 389
            MAIN                           Management                      Company                          MANAGEMENT DISCUSSION
            HIGHLIGHTS                     Report                          Profile                          AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




      Portfolio Category                   0%5)     20%          25%      30%        35%     40%       45%        50%         60%




            Loans Secured by Real
            Estate

            Loans Secured by Residential
            Property which the
            payments Are Not Materially           128,399      99,962   4,387,134          2,814,286            1,160,781
            Dependent on Property
            Cash Flow

              without loan sharing
              approach5)

              using a loan sharing
              approach (guaranteed)5)


              using a loan sharing
              approach (guaranteed)5)

            Loans Secured by Residential
            Property which the
            payments Are Materially                                         -         -                 -                       -
            Dependent on Property
            Cash Flow
      9
            Loans Secured by
            Commercial Property which
            the payments Are Materially                                                                         1,111,965   2,655,163
                                                  357,378,57
            Dependent on Property
            Cash Flow

              without loan sharing
              approach5)

              using a loan sharing
              approach (guaranteed)5)

              using a loan sharing
              approach (guaranteed)5)

            Loans Secured by
            Commercial Property which
            the payments Are Materially
            Dependent on Property
            Cash Flow

            Loan by Land Acquisition,
            Land Processing and
            Construction5)




896   PT Bank Mandiri (Persero) Tbk
Page 390
CORPORATE
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL           Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                     Statements 2023




                                Exposure Disclosure by Asset Class and Risk Weights (CR5)



                                                                                                                 Net
                                                                                                             Receivables
65%5)     70%         75%          85%        90%     100%       105%    110%      150%       Others          After FKK
                                                                                                              and MRK
                                                                                                             Techniques


                                                                                                -                  -




              -     44,737,966      -                    -                              -       -          53,328,528




                                                                                                -                  -


                                                                                                -                  -



                                                                                                -                  -




                        -                                         -                     -       -                  -




                    1,869,034       -                3,347,863                    1,719,160     -          11,060,563




                                                                                                -                  -


                                                                                                -                  -



                                                                                                -                  -




        5,869,187                        2,760,011                      816,968         -       -          9,446,167




                                                        0                         1,259,671     -          1,259,671




                                                                                                    ANNUAL REPORT 2023     897
Page 391
            MAIN                      Management                         Company                       MANAGEMENT DISCUSSION
            HIGHLIGHTS                Report                             Profile                       AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




       Portfolio Category                                            50%                                      100%


       10    Past Due Receivables                                                     5,369,956                       1,282,340




       Portfolio Category                              0%                                      20%


       11    Other Assets                                   20,867,247



                                            Net Receivables Statement of           Net Billings TRA (before FKK imposition)
       No     Risk Weight
                                                  Financial Position

       1      < 40%                                                  603892365,3                                     67041488,3

       2      40%-70%                                                98615590,05                                   79377443,27

       3      75%                                                    277437672,1                                   35837578,42

       4      80%                                                    2415274,614                                     457924,854

       5      85%                                                    112233829,2                                   23166519,96

       6      90%-100%                                               516513735,9                                   149359119,2

       7      105%-130%                                              18531176,78                                     3337640,74

       8      150%                                                   5791208,155                                   4071689,098

       9      250%                                                            0                                               0

       10     400%                                                            0                                               0

       11     1250%                                                           0                                               0

       12     Total Net Receivables                                  1635430852                                   362649403,9




898   PT Bank Mandiri (Persero) Tbk
Page 392
CORPORATE
 CORPORATE             ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                   Financial
GOVERNANCE
 GOVERNANCE            & PRACTICES                         RESPONSIBILITY                             Statements 2023




                        Exposure Disclosure by Asset Class and Risk Weights (CR5)




                                                                                             Net Receivables After FKK and MRK
                              150%                                            Others
                                                                                                        Techniques

                                                             2,839,496                                                  9,491,792



                                                                                             Net Receivables After FKK and MRK
              100%                       150%             1250%5)             Others
                                                                                                        Techniques

                      72,085,123                                                                                     92,952,370



                                             Net Billings (After imposition of FKK and MRK
              FKK Average
                                                               Techniques)

                                   26.41%                                      618,373,175

                                   36.80%                                      127,069,495

                                   12.41%                                      259,394,492

                                     0.00%                                       2,428,244

                                   30.06%                                      102,322,413

                                   35.15%                                      546,204,487

                                   10.00%                                       18,861,367

                                     5.17%                                       5,821,298

                                     0.00%                                               0

                                     0.00%                                               0

                                     0.00%                                               0

                                   30.74%                                    1,680,474,972




                                                                                                        ANNUAL REPORT 2023          899
Page 393
            MAIN                          Management                           Company                        MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                               Profile                        AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




      2) Consolidated




       Portfolio Category                           0%                                    20%                         50%


       1     Government Receivables                      476,041,085                              628,120                                0




       Portfolio Category                                    20%                                             50%


             Public Sector Entities
       2                                                                     39,572,116                                         58,023,574
             Receivables




       Portfolio Category                           0%                                    20%                  30%                 50%


             Multilateral Development
       3     Banks and International                               0                                    0                   0            0
             Institutions Receivables




       Portfolio Category                     20%                      30%                      40%            50%                 75%


       4     Bank Receivables                  55,437,406                     5,218,946         25,307,507           496,174        5,016

             Securities Companies and
             Other Financial Services            419,227                      2,295,959                 0                   0    4,583,641
             Institutions Receivables1)




       Portfolio Category                     10%                      15%                      20%            25%                 35%


             Receivables in the form of
       5                                                 0                           0                  0                   0            0
             Covered Bond




900   PT Bank Mandiri (Persero) Tbk
Page 394
CORPORATE
 CORPORATE                  ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL            Financial
GOVERNANCE
 GOVERNANCE                 & PRACTICES                  RESPONSIBILITY                      Statements 2023




                             Exposure Disclosure by Asset Class and Risk Weights (CR5)




                                                                                                    (in million rupiah)

                                                                                                  Net Receivables
              100%                                150%                              Others       After FKK and MRK
                                                                                                     Techniques

                                  0                                   0                                    476,669,205



                                                                                                  Net Receivables
              100                                 150%                              Others       After FKK and MRK
                                                                                                     Techniques


                              77,254                                  0                                        97,672,944




                                                                                                  Net Receivables
                     100%                                150%                       Others       After FKK and MRK
                                                                                                     Techniques


                                              0                       0                                                0




                                                                                                  Net Receivables
                     100%                                150%                       Others       After FKK and MRK
                                                                                                     Techniques

                                       242,970                        0                                        86,708,019


                                              0                       0                                         7,298,827




                                                                                                  Net Receivables
                     50%                                 100%                       Others       After FKK and MRK
                                                                                                     Techniques


                                              0                       0                                                0




                                                                                              ANNUAL REPORT 2023            901
Page 395
            MAIN                          Management                       Company                   MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                           Profile                   AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




       Portfolio Category                     20%                  50%                65%5)           75%              80%


             Corporate Receivables
                                               51,012,952                30,403,309                      2,511,213
             Umum2)

             Securities Companies and
       6     Other Financial Services
             Institutions Receivables3)

             Special Financing
                                                                                                                     2,428,244
             Exposure4)




       Portfolio Category                                   100%                              150%                    250%


             Receivables in the form of
             Securities/Subordinated
       7                                                                                                     2,970
             Receivables, Equity and
             Other Capital Instruments




       Portfolio Category                                   45%                               75%                      85%


             Micro Business, Small
       8     Business, and Retail                                          307,216                     248,149,413   3,433,696
             Portfolio Receivables




902   PT Bank Mandiri (Persero) Tbk
Page 396
CORPORATE
 CORPORATE           ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE
 GOVERNANCE          & PRACTICES                       RESPONSIBILITY                          Statements 2023




                      Exposure Disclosure by Asset Class and Risk Weights (CR5)



                                                                                                    Net Receivables
  85%         100%                      130%                150%                  Others           After FKK and MRK
                                                                                                       Techniques


99,186,681       360,149,624                                   207,658                                       543,471,437



                                                                                                                       0



                 109,511,984              18,044,398                                                         129,984,627




                                                                                                    Net Receivables
                               400%5)                                             Others           After FKK and MRK
                                                                                                       Techniques



                                                                                                                   2,970




                                                                                                    Net Receivables
                               100%                                               Others           After FKK and MRK
                                                                                                       Techniques


                                                               454,539                     0                 252,344,863




                                                                                                ANNUAL REPORT 2023         903
Page 397
            MAIN                          Management                  Company                            MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                      Profile                            AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)




       Portfolio Category                 0%5)    20%       25%      30%         35%     40%       45%         50%         60%




             Loans Secured by Real
             Estate

             Loans Secured by
             Residential Property which
             the payments Are Not                139,550   104,006   4,398,088         2,821,153             1,174,053
             Materially Dependent on
             Property Cash Flow

               without loan sharing
               approach5)

               using a loan
               sharing approach
               (guaranteed)5)

               using a loan
               sharing approach
               (guaranteed)5)

             Loans Secured by
             Residential Property
             which the payments Are                                         0      0                     0                       0
             Materially Dependent on
             Property Cash Flow
       9     Loans Secured by
             Commercial Property
             which the payments Are              357,379                                                     1,111,965   2,655,163
             Materially Dependent on
             Property Cash Flow

               without loan sharing
               approach5)

               using a loan
               sharing approach
               (guaranteed)5)

               using a loan
               sharing approach
               (guaranteed)5)

             Loans Secured by
             Commercial Property
             which the payments Are
             Materially Dependent on
             Property Cash Flow

             Loan by Land Acquisition,
             Land Processing and
             Construction5)




904   PT Bank Mandiri (Persero) Tbk
Page 398
CORPORATE
 CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                       RESPONSIBILITY                           Statements 2023




                            Exposure Disclosure by Asset Class and Risk Weights (CR5)



                                                                                                                      Net
                                                                                                                  Receivables
 65%5)        70%           75%        85%         90%        100%       105%   110%      150%          Others     After FKK
                                                                                                                   and MRK
                                                                                                                  Techniques


                                                                                                                               0




                 1,761    44,737,966         0                       0                           0            0     53,376,577




                                                                                                                               0



                                                                                                                               0



                                                                                                                               0




                                  0                                         0                    0            0                0




                           1,869,034         0               3,347,863                    1,719,160                 11,060,563




                                                                                                                               0



                                                                                                                               0



                                                                                                                               0




              5,869,187                          2,760,011                      816,968          0                      9,446,167




                                                                     0                    1,259,671           0         1,259,671




                                                                                                       ANNUAL REPORT 2023           905
Page 399
            MAIN                              Management                 Company                              MANAGEMENT DISCUSSION
            HIGHLIGHTS                        Report                     Profile                              AND ANALYSIS




      Exposure Disclosure by Asset Class and Risk Weights (CR5)



       Portfolio Category                                          50%                                         100%


       10            Past Due Receivables                    5,399,186                                                             1,504,465




       Portfolio Category                                     0%            20%                                100%


       11            Other Assets                           21,085,166                                                            77,513,437




       Portfolio Category                                     0%            25%                      35%                    50%


       12            Exposure in Subsidiaries - Sharia     103,170,615     9,854,950                   26,060,136                 54,658,255



                                                                                                                  Net Billings
                                                            Net Receivables Statement of                        TRA (before FKK
       No     Risk Weight
                                                                  Financial Position                              imposition)


       1      < 40%                                                                    618,995,806                                67041488,3

       2      40%-70%                                                                  128,810,537                            79377443,27

       3      75%                                                                      319,915,411                            35838783,42

       4      80%                                                                        2,415,275                                457924,854

       5      85%                                                                      112,456,803                            23166519,96

       6      90%-100%                                                                 524,314,981                            149359430,2

       7      105%-130%                                                                 18,531,177                                3337640,74

       8      150%                                                                       6,004,834                            4071689,098

       9      250%                                                                              0                                         0

       10     400%                                                                              0                                         0

       11     1250%                                                                             0                                         0

       12     Exposure in Subsidiaries - Sharia                                        341,624,169                                 5,097,139

       13     Total Net Receivables                                                2,073,068,991                              367,748,059




906   PT Bank Mandiri (Persero) Tbk
Page 400
CORPORATE
 CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                        Financial
GOVERNANCE
 GOVERNANCE                & PRACTICES                      RESPONSIBILITY                                  Statements 2023




                             Exposure Disclosure by Asset Class and Risk Weights (CR5)



                                                                                                   Net Billings (After imposition of FKK
                               150%                                            Others
                                                                                                          and MRK Techniques)

                                                           2,847,503                                                           9,751,154



                                                                                                   Net Billings (After imposition of FKK
                    150%                            1250%5)                    Others
                                                                                                          and MRK Techniques)

                                                                                                                             98,598,603



                                                                                                   Net Billings (After imposition of FKK
              75%                              100%                            Others
                                                                                                          and MRK Techniques)

39,108,702                        61,826,106                                            286,037                             316,718,022




                                               Net Billings (After imposition of FKK and MRK
               FKK Average
                                                                 Techniques)


                                      26.41%                                      633,476,616

                                      36.80%                                      157,253,442

                                      12.41%                                      301,845,474

                                       0.00%                                        2,428,244

                                      30.06%                                      102,545,387

                                      35.15%                                      554,005,856

                                      10.00%                                       18,861,367

                                       5.17%                                        6,034,924

                                       0.00%                                                   0

                                       0.00%                                                   0

                                       0.00%                                                   0

                                      54.71%                                      213,547,407

                                      30.74%                                    1,776,451,309




                                                                                                             ANNUAL REPORT 2023            907
Page 401
            MAIN                             Management                      Company                          MANAGEMENT DISCUSSION
            HIGHLIGHTS                       Report                          Profile                          AND ANALYSIS




      Credit Risk - Counterparty Credit Risk (CCR1) Exposure
      Analysis




       INDIVIDUAL


                                                                                       Potential future
                    As of 31 December 2023                   Replacement cost (RC)                                  EEPE
                                                                                       exposure (PFE)

       1        SA-CCR (for derivatives)                                  1,920,760               1,431,013

                Internal Model Method (for
       2
                derivatives and SFTs)

                Simple Approach for credit risk mitigation
       3
                (for SFTs)

                Comprehensive Approach for credit
       4
                risk mitigation (for SFTs)

       5        VaR for SFTs

       6        Total                                                     1,920,760               1,431,013




       CONSOLIDATED	


                                                                                       Potential future
                    As of 31 December 2023                   Replacement cost (RC)                                  EEPE
                                                                                       exposure (PFE)

       1        SA-CCR (for derivatives)                                  1,949,694               1,438,086

                Internal Model Method (for
       2
                derivatives and SFTs)

                Simple Approach for credit risk mitigation
       3
                (for SFTs)

                Comprehensive Approach for credit
       4
                risk mitigation (for SFTs)

       5        VaR for SFTs

       6        Total                                                     1,949,694               1,438,086                    -




908   PT Bank Mandiri (Persero) Tbk
Page 402
CORPORATE
 CORPORATE               ESG COMMITMENTS       SOCIAL AND ENVIRONMENTAL   Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES           RESPONSIBILITY             Statements 2023




                  Credit Risk - Counterparty Credit Risk (CCR1) Exposure Analysis




                                                                                 (in million rupiah)




        Alpha used for regulatory
                                           Net Receivables                 RWA
            EAD calculations

                                    1,4                       4,692,482                   2,785,094




                                                             20,153,407                   2,535,213


                                                                      -                           -
                                                             24,845,888                   5,320,307




                                                                                 (in million rupiah)




        Alpha used for regulatory
                                           Net Receivables                 RWA
            EAD calculations

                                    1,4                       4,742,892                   2,800,217




                                                             26,704,227                   2,562,649




                                                             31,447,119                   5,362,866




                                                                           ANNUAL REPORT 2023          909
Page 403
               MAIN                             Management                      Company                     MANAGEMENT DISCUSSION
               HIGHLIGHTS                       Report                          Profile                     AND ANALYSIS




      Credit Risk - CCR Exposure by Portfolio Category and
      Risk Weight (CCR3)




      Disclosure of CCR Exposure by Portfolio Category and Risk Weighting – Bank Only



      as of 31 December 2023


       Portfolio Category                                    0%           10%         20%         25%        30%        35%



       Government Receivables                                11,547,544         -             -         -          -          -


       Public Sector Entities Receivables                             -         -             -         -          -          -


       Multilateral Development Banks and
                                                                      -         -             -         -          -          -
       International Institutions Receivables


       Bank Receivables                                               -         -    5,129,370          -     22,951          -


       Micro Business, Small Business, and Retail
                                                                      -         -             -         -          -          -
       Portfolio Receivables


       Corporate Receivables                                          -         -           309         -          -          -


       Weighted exposure of Credit Valuation
                                                                      -         -             -         -          -          -
       Adjustments (CVA risk weighted assets)

       Total                                                 11,547,544         -    5,129,679          -     22,951          -




910   PT Bank Mandiri (Persero) Tbk
Page 404
CORPORATE
 CORPORATE               ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL              Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                 RESPONSIBILITY                        Statements 2023




 Credit Risk - CCR Exposure by Portfolio Category and Risk Weight (CCR3)




                                                                                                    (in million rupiah)

                                                                                                          Total Net
   40%         45%           50%           75%       85%        100%            150%       others
                                                                                                         Receivables


           -         -             -             -         -            -              -             -      11,547,544


           -         -       516,673             -         -            -              -             -        516,673


           -         -             -             -         -            -              -             -               -


   5,945,047         -             -             -         -            -              -             -      11,097,368


           -         -             -             -         -       2,933               -             -           2,933


           -         -        39,864        10,809    74,990    1,553,359         2,039              -       1,681,370


           -         -             -             -         -            -              -             -               -


  5,945,047          -       556,538        10,809    74,990    1,556,292         2,039              -      24,845,888




                                                                                             ANNUAL REPORT 2023           911
Page 405
               MAIN                             Management                      Company                     MANAGEMENT DISCUSSION
               HIGHLIGHTS                       Report                          Profile                     AND ANALYSIS




      Credit Risk - CCR Exposure by Portfolio Category and Risk Weight (CCR3)




      Disclosure of CCR Exposure by Portfolio Category and Risk Weighting - Consolidated



      As of 31 December 2023


       Portfolio Category                                    0%           10%         20%         25%        30%        35%



       Government Receivables                                18,030,343         -             -         -          -          -


       Public Sector Entities Receivables                             -         -             -         -          -          -


       Multilateral Development Banks and
                                                                      -         -             -         -          -          -
       International Institutions Receivables


       Bank Receivables                                               -         -    5,129,370          -     73,361          -


       Micro Business, Small Business, and Retail
                                                                      -         -             -         -          -          -
       Portfolio Receivables


       Corporate Receivables                                          -         -           309         -          -          -


       Weighted exposure of Credit Valuation
                                                                      -         -             -         -          -          -
       Adjustments (CVA risk weighted assets)


       Exposure in Subsidiaries - Sharia                              -         -             -         -          -          -


       Total                                                 18,030,343         -    5,129,679          -     73,361          -




912   PT Bank Mandiri (Persero) Tbk
Page 406
CORPORATE
 CORPORATE               ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL              Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                 RESPONSIBILITY                        Statements 2023




 Credit Risk - CCR Exposure by Portfolio Category and Risk Weight (CCR3)




                                                                                                 (in million rupiah)

                                                                                                         Total Net
   40%         45%           50%           75%       85%         100%           150%       others
                                                                                                        Receivables


           -         -              -            -         0             -             -            -     18,030,343


           -         -        516,673            -         0             -             -            -         516,673


           -         -              -            -         -             -             -            -                -


   6,008,519         -              -            -         0             -             -            -     11,211,250


           -     4,549              -            -         0        2,933              -            -           7,482


           -         -         39,864       10,809    74,990     1,553,359        2,039             -        1,681,370


           -         -              -            -         -             -             -            -                -


           -         -              -            -         -             -             -            -                -


   6,008,519     4,549        556,538       10,809    74,990     1,556,292        2,039             -     31,447,119




                                                                                            ANNUAL REPORT 2023           913
Page 407
            MAIN                             Management                           Company              MANAGEMENT DISCUSSION
            HIGHLIGHTS                       Report                               Profile              AND ANALYSIS




      Credit Risk - Net Receivables of Credit Derivatives (CCR6)




      As of 31 December 2023                                                                                (in million rupiah)


       INDIVIDUAL                                                             Protection bought       Protection sold


       Notional Value                                                                  -                     -

          Single-name credit default swaps                                             -                     -

          Index credit default swaps                                                   -                     -

          Total return swaps                                                           -                     -

          Credit options                                                               -                     -

          Other credit derivatives                                                     -                     -

       Total Notional Value                                                            -                     -

       Fair value                                                                      -                     -

          Positive fair value (asset)                                                  -                     -

          Negative fair value (liability)                                              -                     -



      As of 31 December 2023                                                                                (in million rupiah)


       CONSOLIDATED                                                           Protection bought       Protection sold


       Notional Value                                                                  -                     -

          Single-name credit default swaps                                             -                     -

          Index credit default swaps                                                   -                     -

          Total return swaps                                                           -                     -

          Credit options                                                               -                     -

          Other credit derivatives                                                     -                     -

       Total Notional Value                                                            -                     -

       Fair value                                                                      -                     -

          Positive fair value (asset)                                                  -                     -

          Negative fair value (liability)                                              -                     -

       Note: Bank Mandiri as bank only and consolidated did not have credit derivative transactions




914   PT Bank Mandiri (Persero) Tbk
Page 408
CORPORATE
 CORPORATE    ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL   Financial
GOVERNANCE
 GOVERNANCE   & PRACTICES                      RESPONSIBILITY             Statements 2023




                  Credit Risk - Net Receivables of Credit Derivatives (CCR6)




                                This page is intentionally left blank




                                                                           ANNUAL REPORT 2023   915
Page 409
            MAIN                              Management            Company                            MANAGEMENT DISCUSSION
            HIGHLIGHTS                        Report                Profile                            AND ANALYSIS




      CREDIT RISK - Disclosure of securitization Exposure
      in Banking Book (SEC1)




      As of 31 December 2023

                                                                                  Bank as originator
       INDIVIDUAL	
                                                           Traditional                 Sintetis                 Sub-total

       1         Retail (total) - among other                            24,130           -                                 24,130

       2             Housing loans                                       24,130           -                                 24,130

       3             Credit cards                               -                         -                         -

       4             Other retail exposures                     -                         -                         -

       5             Re-securitization                          -                         -                         -

       6         Non-retail (total) - among others              -                         -                         -

       7             Corporate loans                            -                         -                         -

       8             Commercial credit                          -                         -                         -

       9             Rent and accounts receivable               -                         -                         -

       10            Other non-retail                           -                         -                         -

       11            Re-securitization                          -                         -                         -




                                                                                  Bank as originator
                             CONSOLIDATED
                                                           Traditional                 Sintetis                 Sub-total

       1         Retail (total) - among other                            24,130           -                                 24,130

       2         Housing loans                                           24,130           -                                 24,130

       3         Credit cards                                   -                         -                         -

       4         Other retail exposures                         -                         -                         -

       5         Re-securitization                              -                         -                         -

       6         Non-retail (total) - among others              -                         -                         -

       7         Corporate loans                                -                         -                         -

       8         Commercial credit                              -                         -                         -

       9         Rent and accounts receivable                   -                         -                         -

       10        Other non-retail                               -                         -                         -

       11        Re-securitization                              -                         -                         -




916   PT Bank Mandiri (Persero) Tbk
Page 410
CORPORATE
 CORPORATE             ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE            & PRACTICES                 RESPONSIBILITY                           Statements 2023




 CREDIT RISK - Disclosure of securitization Exposure in Banking Book (SEC1)




                                                                                                       (in million rupiah)

                         Bank as sponsor                                         Bank as investor


         Traditional         Sintetis      Sub-total           Traditional           Sintetis              Sub-total

              -                 -              -                        67,848          -                          67,848

              -                 -              -                        67,848          -                          67,848

              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -


                                                                                                       (in million rupiah)

                         Bank as sponsor                                         Bank as investor


         Traditional         Sintetis      Sub-total           Traditional           Sintetis              Sub-total

              -                 -              -                        68,940          -                          68,940

              -                 -              -                        68,940          -                          68,940

              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -
              -                 -              -                    -                   -                      -




                                                                                                ANNUAL REPORT 2023     917
Page 411
            MAIN                               Management                          Company                           MANAGEMENT DISCUSSION
            HIGHLIGHTS                         Report                              Profile                           AND ANALYSIS




      CREDIT RISK - Disclosure of securitization Exposure in
      Trading Book (SEC2)


      As of 31 December 2022

                                                                                                Bank as originator
                              INDIVIDUAL
                                                                          Traditional                Sintetis            Sub-total

       1        Retail (total) - among other                                   -                         -                   -

       2           Housing loans                                               -                         -                   -

       3           Credit cards                                                -                         -                   -

       4           Other retail exposures                                      -                         -                   -

       5           Re-securitization                                           -                         -                   -

       6        Non-retail (total) - among others                              -                         -                   -

       7           Corporate loans                                             -                         -                   -

       8           Commercial credit                                           -                         -                   -

       9           Rent and accounts receivable                                -                         -                   -

       10          Other non-retail                                            -                         -                   -

       11          Re-securitization                                           -                         -                   -




                                                                                                Bank as originator
                            CONSOLIDATED
                                                                          Traditional                Sintetis            Sub-total

       1        Retail (total) - among other                                   -                         -                   -

       2           Housing loans                                               -                         -                   -

       3           Credit cards                                                -                         -                   -

       4           Other retail exposures                                      -                         -                   -

       5           Re-securitization                                           -                         -                   -

       6        Non-retail (total) - among others                              -                         -                   -

       7           Corporate loans                                             -                         -                   -

       8           Commercial credit                                           -                         -                   -

       9           Rent and accounts receivable                                -                         -                   -

       10          Other non-retail                                            -                         -                   -

       11          Re-securitization                                           -                         -                   -

       Notes: Bank Mandiri as bank only and consolidated did not have securitization exposure in trading book




918   PT Bank Mandiri (Persero) Tbk
Page 412
CORPORATE
 CORPORATE           ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE          & PRACTICES                   RESPONSIBILITY                           Statements 2023




  CREDIT RISK - Disclosure of securitization Exposure in Trading Book (SEC2)




                                                                                               (in million rupiah)

                  Bank as sponsor                                        Bank as investor


    Traditional       Sintetis         Sub-total         Traditional          Sintetis             Sub-total

         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -



                                                                                               (in million rupiah)

                  Bank as sponsor                                        Bank as investor


    Traditional       Sintetis         Sub-total         Traditional          Sintetis             Sub-total

         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -
         -               -                 -                  -                  -                     -




                                                                                             ANNUAL REPORT 2023      919
Page 413
            MAIN                          Management                         Company                        MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                             Profile                        AND ANALYSIS




      CREDIT RISK - Disclosure of securitization exposure in the
      banking book when the bank is the originator or sponsor
      and its capital requirements (SEC3)




      As of 31 December 2023

                                                  Exposure Value                                     Exposure Value
                                              (based on Risk Weighted)                       (based on regulatory approach)


       INDIVIDUAL                                                  >100% to
                                           >20% to      >50% to                 1250%      IRB RBA
                              ≤20% Risk                             <1250%                                      SA/
                                           50% Risk    100% Risk                 Risk     (include   IRB SFA             1250%
                              Weighted                                Risk                                      SSFA
                                           Weighted    Weighted                Weighted      IAA)
                                                                   Weighted



       1    Total exposure        -           -            -         24,130       -          -          -      24,130         -

            Traditional
       2                          -           -            -         24,130       -          -          -      24,130         -
            securitization

            In which the
       3    underlying            -           -            -         24,130       -          -          -      24,130         -
            securitization

       4    Ritel                 -           -            -         24,130       -          -          -      24,130         -

       5    non-ritel             -           -            -             -        -          -          -        -            -

            In which re-
       6                          -           -            -             -        -          -          -        -            -
            securitization

       7    Senior                -           -            -             -        -          -          -        -            -

       8    Non-senior            -           -            -             -        -          -          -        -            -

            Synthetic
       9                          -           -            -             -        -          -          -        -            -
            securitization

            In which the
       10   underlying            -           -            -             -        -          -          -        -            -
            securitization

       11   ritel                 -           -            -             -        -          -          -        -            -

       12   non-ritel             -           -            -             -        -          -          -        -            -

            In which re-
       13                         -           -            -             -        -          -          -        -            -
            securitization

       14   Senior                -           -            -             -        -          -          -        -            -

       15   Non-senior            -           -            -             -        -          -          -        -            -




920   PT Bank Mandiri (Persero) Tbk
Page 414
CORPORATE
 CORPORATE               ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                    RESPONSIBILITY                         Statements 2023




               CREDIT RISK - Disclosure of securitization exposure in the banking
                               book when the bank is the originator or sponsor
                                              and its capital requirements (SEC3)




                                                                                              (in million rupiah)

                            RWA
                                                                            Capital charge after cap
               (based on regulatory approach)



     IRB RBA                                                   IRB RBA
    (include      IRB SFA         SA/SSFA       1250%         (include      IRB SFA         SA/SSFA         1250%
       IAA)                                                      IAA)



       -             -               287,857      -              -             -                    6,505        -


       -             -               287,857      -              -             -                    6,505        -



       -             -               287,857      -              -             -                    6,505        -


       -             -               287,857      -              -             -                    6,505        -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -



       -             -               -            -              -             -               -                 -


       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -




                                                                                                   ANNUAL REPORT 2023   921
Page 415
            MAIN                          Management                         Company                        MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                             Profile                        AND ANALYSIS




      CREDIT RISK - Disclosure of securitization exposure in the banking
      book when the bank is the originator or sponsor
      and its capital requirements (SEC3)




      As of 31 December 2023

                                                  Exposure Value                                     Exposure Value
                                              (based on Risk Weighted)                       (based on regulatory approach)


       CONSOLIDATED                                                >100% to
                                ≤20%       >20% to      >50% to                 1250%      IRB RBA
                                                                    <1250%                                      SA/
                                 Risk      50% Risk    100% Risk                 Risk     (include   IRB SFA             1250%
                                                                      Risk                                      SSFA
                               Weighted    Weighted    Weighted                Weighted      IAA)
                                                                   Weighted


       1    Total exposure        -           -            -         24,130       -          -          -      24,130         -

            Traditional
       2                          -           -            -         24,130       -          -          -      24,130         -
            securitization

            In which the
       3    underlying            -           -            -         24,130       -          -          -      24,130         -
            securitization

       4      Ritel               -           -            -         24,130       -          -          -      24,130         -

       5      Non-Ritel           -           -            -             -        -          -          -        -            -

            In which re-
       6                          -           -            -             -        -          -          -        -            -
            securitization

       7      Senior              -           -            -             -        -          -          -        -            -

       8      Non-senior          -           -            -             -        -          -          -        -            -

            Synthetic
       9                          -           -            -             -        -          -          -        -            -
            securitization

            In which the
       10   underlying            -           -            -             -        -          -          -        -            -
            securitization

       11     Ritel               -           -            -             -        -          -          -        -            -

       12     Non-Ritel           -           -            -             -        -          -          -        -            -

            In which re-
       13                         -           -            -             -        -          -          -        -            -
            securitization

       14     Senior              -           -            -             -        -          -          -        -            -

       15     Non-senior          -           -            -             -        -          -          -        -            -




922   PT Bank Mandiri (Persero) Tbk
Page 416
CORPORATE
 CORPORATE               ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE
 GOVERNANCE              & PRACTICES                    RESPONSIBILITY                         Statements 2023




               CREDIT RISK - Disclosure of securitization exposure in the banking
                               book when the bank is the originator or sponsor
                                              and its capital requirements (SEC3)




                                                                                                       (in million rupiah)

                            RWA
                                                                            Capital charge after cap
               (based on regulatory approach)



     IRB RBA                                                   IRB RBA
    (include      IRB SFA         SA/SSFA       1250%         (include      IRB SFA         SA/SSFA           1250%
       IAA)                                                      IAA)



       -             -               287,857      -              -             -                    6,505        -

       -             -               287,857      -              -             -                    6,505        -



       -             -               287,857      -              -             -                    6,505        -


       -             -               287,857      -              -             -                    6,505        -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -



       -             -               -            -              -             -               -                 -


       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -

       -             -               -            -              -             -               -                 -




                                                                                                   ANNUAL REPORT 2023        923
Page 417
             MAIN                          Management                             PROFIL
                                                                                  Company                               MANAGEMENT DISCUSSION
             HIGHLIGHTS                    Report                                 PERUSAHAAN
                                                                                  Profile                               AND ANALYSIS




       CREDIT RISK - Disclosure of Securitization Exposure on
       banking book and its capital requirements – Bank as
       investor (SEC4)



      As of 31 December 2022

                                                    Exposure Value                                              Exposure Value
                                                (based on Risk Weighted)                                (based on regulatory approach)


       INDIVIDUAL                                               >100% to
                                         >20% to     >50% to                1250%      IRB RBA
                             ≤20% Risk                           <1250%
                                         50% Risk   100% Risk                Risk     (include   IRB SFA      SA/SSFA      1250%   IRB RBA
                             Weighted                              Risk
                                         Weighted   Weighted               Weighted      IAA)
                                                                Weighted



       1    Total exposure     67,848       -           -          -          -          -        67,848         -           -           -


            Traditional
       2
            securitization
                               67,848       -           -          -          -          -        67,848         -           -           -

            In which the
       3    underlying         67,848       -           -          -          -          -        67,848         -           -           -
            securitization

       4      Ritel            67,848       -           -          -          -          -        67,848         -           -           -

       5      Non-Ritel          -          -           -          -          -          -          -            -           -           -

            In which re-
       6
            securitization
                                 -          -           -          -          -          -          -            -           -           -


       7      Senior             -          -           -          -          -          -          -            -           -           -

       8      Non-senior         -          -           -          -          -          -          -            -           -           -

            Synthetic
       9
            securitization
                                 -          -           -          -          -          -          -            -           -           -

            In which the
       10   underlying           -          -           -          -          -          -          -            -           -           -
            securitization

       11    Ritel               -          -           -          -          -          -          -            -           -           -

       12    Non-Ritel           -          -           -          -          -          -          -            -           -           -

            In which re-
       13
            securitization
                                 -          -           -          -          -          -          -            -           -           -


       14     Senior             -          -           -          -          -          -          -            -           -           -

       15     Non-senior         -          -           -          -          -          -          -            -           -           -




924    PT Bank Mandiri (Persero) Tbk
Page 418
CORPORATE
 CORPORATE           ESG COMMITMENTS       SOCIAL AND ENVIRONMENTAL                 Financial
GOVERNANCE
 GOVERNANCE          & PRACTICES           RESPONSIBILITY                           Statements 2023




  CREDIT RISK - Disclosure of Securitization Exposure on banking book and
                           its capital requirements – Bank as investor (SEC4)




                                                                                       (in million rupiah)


                                                         Capital charge after cap




    IRB SFA   SA/SSFA            1250%   IRB RBA         IRB SFA          SA/SSFA             1250%




    12,114       -                 -        -               -                 -                 -

    12,114       -                 -        -               -                 -                 -

    12,114       -                 -        -               -                 -                 -

    12,114       -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -

       -         -                 -        -               -                 -                 -

       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -
       -         -                 -        -               -                 -                 -




                                                                                     ANNUAL REPORT 2023      925
Page 419
            MAIN                          Management                           Company                             MANAGEMENT DISCUSSION
            HIGHLIGHTS                    Report                               Profile                             AND ANALYSIS




      CREDIT RISK - Disclosure of Securitization Exposure on banking book and
      its capital requirements – Bank as investor (SEC4)


      As of 31 December 2023

                                                                                                   Exposure Value (based on regulatory
                                          Exposure Value (based on Risk Weighted)
                                                                                                               approach)


       CONSOLIDATED                                              >100% to
                                          >20% to     >50% to                1250%      IRB RBA                                  IRB RBA
                              ≤20% Risk                           <1250%
                                          50% Risk   100% Risk                Risk     (include   IRB SFA   SA/SSFA     1250%   (include
                              Weighted                              Risk
                                          Weighted   Weighted               Weighted      IAA)                                     IAA)
                                                                 Weighted




       1     Total exposure     68,940       -           -          -          -          -        68,940      -          -        -

             Traditional
       2
             securitization
                                68,940       -           -          -          -          -        68,940      -          -        -
             In which the
       3     underlying         68,940       -           -          -          -          -        68,940      -          -        -
             securitization

       4     Ritel              68,940       -           -          -          -          -        68,940      -          -        -
       5     non-ritel            -          -           -          -          -          -          -         -          -        -
             In which re-
       6
             securitization
                                  -          -           -          -          -          -          -         -          -        -
       7     Senior               -          -           -          -          -          -          -         -          -        -
       8     Non-senior           -          -           -          -          -          -          -         -          -        -
             Synthetic
       9
             securitization
                                  -          -           -          -          -          -          -         -          -        -
             In which the
       10    underlying           -          -           -          -          -          -          -         -          -        -
             securitization

       11    ritel                -          -           -          -          -          -          -         -          -        -
       12    non-ritel            -          -           -          -          -          -          -         -          -        -
             In which re-
       13
             securitization
                                  -          -           -          -          -          -          -         -          -        -
       14    Senior               -          -           -          -          -          -          -         -          -        -
       15    Non-senior           -          -           -          -          -          -          -         -          -        -




926   PT Bank Mandiri (Persero) Tbk
Page 420
CORPORATE
 CORPORATE             ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE
 GOVERNANCE            & PRACTICES                      RESPONSIBILITY                            Statements 2023




  CREDIT RISK - Disclosure of Securitization Exposure on banking book and
                           its capital requirements – Bank as investor (SEC4)


                                                                                                        (in million rupiah)


                RWA (based on regulatory approach)                                 Capital charge after cap




                                                        IRB RBA
      IRB SFA       SA/SSFA           1250%                            IRB SFA             SA/SSFA            1250%
                                                     (include IAA)




      12,331           -                 -                 -              -                   -                  -

      12,331           -                 -                 -              -                   -                  -

      12,331           -                 -                 -              -                   -                  -

      12,331           -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -

         -             -                 -                 -              -                   -                  -

         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -
         -             -                 -                 -              -                   -                  -




                                                                                                     ANNUAL REPORT 2023       927
Page 421
            MAIN                                  Management                         Company                                MANAGEMENT DISCUSSION
            HIGHLIGHTS                            Report                             Profile                                AND ANALYSIS




      CALCULATION REPORT



      LIQUIDITY COVERAGE RATIO QUARTER


      Bank Name : PT. Bank Mandiri (Persero), Tbk
      Report Position : Quarter IV 2023




                                                                                                          INDIVIDUAL

                                                                                                    Reporting Date Position



                                                                                  The outstanding value of             HQLA value after haircut or
      No    Component
                                                                              obligations and commitments/              outstanding liabilities and
                                                                               contractual invoice value The           commitments multiplied by
                                                                              outstanding value of obligations       the run-off rate or Contractual
                                                                              and commitments/ contractual           invoice value times the inflow
                                                                                       invoice value                               rate




      1     The number of data points used in the calculation of the LCR                                                                       62 days

      HIGH QUALITY LIQUID ASSET (HQLA)

      2     Total High Quality Liquid Asset (HQLA)                                                                                         344,537,560

      ARUS KAS KELUAR (CASH OUTFLOWS)

            Deposits from individual customers and funding originating from
                                                                                                    476,718,890                             34,431,405
            Micro and Small Business customers consisted of:
      3
            a. Deposits/Stable Funding                                                              264,809,685                             13,240,484

            b. Deposits/Less Stable Funding                                                         211,909,205                             21,190,920

            Funding originating from corporate customers consisted of :                             598,458,104                            180,665,626


            a. Operational savings                                                                  474,295,379                            112,206,372

      4
            b. Non-Operational deposits and/or other liabilities of a non-
                                                                                                    124,162,724                             68,459,254
            Operational nature


            c. Securities in the form of debt securities issued by banks
                                                                                                                 -                                     -
            (unsecured debt)

      5.    Funding secured by collateral (secured funding)                                                                                            -

            Other cash outflows (additional requirement), consisted of:                             328,582,549                             99,959,521

            a. Cash outflows from derivative transactions                                            89,799,722                             89,799,722

            b. Cash outflows for increased liquidity requirements                                                -                                     -

            c. Cash outflows on loss of funding                                                                  -                                     -

      6.    d. Cash outflows on withdrawal of committed credit facilities
                                                                                                     26,937,370                              3,932,443
            and liquidity facilities

            e. Cash outflows for other contractual obligations related to
                                                                                                                 -                                     -
            distribution of funds

            f. Cash outflows for other contingent financing obligations                             211,845,457                              6,227,356

            g. Other contractual cash outflows                                                                   -                                     -




928   PT Bank Mandiri (Persero) Tbk.
Page 422
CORPORATE
 CORPORATE                      ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                     Financial
GOVERNANCE
 GOVERNANCE                     & PRACTICES                               RESPONSIBILITY                               Statements 2023




                                                                                                                                      (in IDR million)

                  INDIVIDUAL                                                               CONSOLIDATED

        Previous Reporting Date Position                         Reporting Date Position                  Previous Reporting Date Position

                                 HQLA value               The outstanding          HQLA value                                      HQLA value
                                 after haircut         value of obligations       after haircut                                    after haircut
                               or outstanding          and commitments/         or outstanding                                   or outstanding
    The outstanding                                                                                   The outstanding
                                liabilities and             contractual          liabilities and                                  liabilities and
  value of obligations                                                                              value of obligations
                                commitments             invoice value The        commitments                                      commitments
  and commitments/                                                                                  and commitments/
                                multiplied by           outstanding value      multiplied by the                                  multiplied by
  contractual invoice                                                                               contractual invoice
                              the runoff rate or        of obligations and       run-off rate or                                the runoff rate or
         value                                                                                             value
                             Contractual invoice          commitments/        Contractual invoice                              Contractual invoice
                               value times the         contractual invoice      value times the                                  value times the
                                  inflow rate                  value               inflow rate                                      inflow rate

                                          52 days                                                                                            52 days




                                      360,968,981                                                                                       451,225,953




            476,076,270                34,500,283                                                             628,095,674                 47,932,423

            262,146,873                13,107,344                                                             297,542,877                 14,877,144

            213,929,397                21,392,940                                                             330,552,796                 33,055,280

            570,372,293               184,896,839                                                             702,248,229               233,937,892


            366,530,563                85,975,577                                                             431,397,192               101,546,368


            203,841,730                98,921,262                                                             267,354,222               128,894,709



                         -                         -                                                            3,496,815                  3,496,815

                                                   -                                                                                         449,237

            312,235,023                88,229,756                                                             323,666,882                 95,862,779

             78,582,966                78,582,966                                                              78,582,966                 78,582,966

                         -                         -                                                                       -                         -

                         -                         -                                                                       -                         -

             26,972,523                 3,725,056                                                              28,133,242                  3,840,916


                         -                         -                                                                       -                  96,682

            206,679,535                 5,921,734                                                             209,666,559                  6,058,101

                         -                         -                                                            7,284,115                  7,284,115




                                                                                                                           ANNUAL REPORT 2023            929
Page 423
               MAIN                                           Management                                                Company                                                MANAGEMENT DISCUSSION
               HIGHLIGHTS                                     Report                                                    Profile                                                AND ANALYSIS




                                                                                                                                                       INDIVIDUAL

                                                                                                                                              Reporting Date Position



                                                                                                                 The outstanding value of                             HQLA value after haircut or
      No       Component
                                                                                                             obligations and commitments/                              outstanding liabilities and
                                                                                                              contractual invoice value The                           commitments multiplied by
                                                                                                             outstanding value of obligations                       the run-off rate or Contractual
                                                                                                             and commitments/ contractual                           invoice value times the inflow
                                                                                                                      invoice value                                               rate




      7.      CASH OUTFLOWS                                                                                                                                                                        315,056,551

      CASH INFLOWS

      8.      Secured lending collateral                                                                                                         1,586,390                                                         -

              Claims originating from counterparties were current (inflows from
      9.      fully performing exposures) from counterparties were current                                                                      53,547,128                                           29,709,564
              (inflows from fully performing exposures)

      10.     Other cash inflows                                                                                                                89,853,741                                           89,853,741

      11.     TOTAL CASH INFLOWS                                                                                                              144,987,259                                          119,563,305

                                                                                                                                                                                 TOTAL ADJUSTED VALUE 1

      12.     TOTAL HQLA                                                                                                                                                                           344,537,560

      13.     TOTAL NET CASH OUTFLOWS                                                                                                                                                              195,493,246

      14.     LCR (%)                                                                                                                                                                                   176,24%

      Remarks : 1) Adjusted value is calculated by the imposition of haircut, run-off rate, and inflow rate as well as the maximum limit of HQLA components, such as the maximum limit of HQLA Level 2B and HQLA
      Level 2 and the maximum limit of cash inflows that can be calculated in the LCR.

      The calculation of the Liquidity Coverage Ratio above is made based on POJK No. 42/POJK.03/2015 concerning Obligations to Fulfill the Liquidity Coverage Ratio for Commercial Banks and POJK No. 32/
      POJK.03/2016 concerning Amendments to the Financial Services Authority Regulation No. 6/POJK.03/2015 concerning Transparency and Publication of Bank Statements and presented in accordance with
      SEOJK No. 09/SEOJK.03/2020 concerning Transparency and Publication of Conventional Commercial Bank Reports.




930   PT Bank Mandiri (Persero) Tbk.
Page 424
CORPORATE
 CORPORATE                     ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                     Financial
GOVERNANCE
 GOVERNANCE                    & PRACTICES                             RESPONSIBILITY                               Statements 2023




                                                                                                                                 (in IDR million)

                  INDIVIDUAL                                                            CONSOLIDATED

        Previous Reporting Date Position                      Reporting Date Position                  Previous Reporting Date Position

                              HQLA value               The outstanding          HQLA value                                    HQLA value
                              after haircut         value of obligations       after haircut                                  after haircut
                            or outstanding          and commitments/         or outstanding                                 or outstanding
    The outstanding                                                                                The outstanding
                             liabilities and             contractual          liabilities and                                liabilities and
  value of obligations                                                                           value of obligations
                             commitments             invoice value The        commitments                                    commitments
  and commitments/                                                                               and commitments/
                             multiplied by           outstanding value      multiplied by the                                multiplied by
  contractual invoice                                                                            contractual invoice
                           the runoff rate or        of obligations and       run-off rate or                              the runoff rate or
         value                                                                                          value
                          Contractual invoice          commitments/        Contractual invoice                            Contractual invoice
                            value times the         contractual invoice      value times the                                value times the
                               inflow rate                  value               inflow rate                                    inflow rate

                                   307,626,878                                                                                     378,182,331




              3,057,644                         -                                                            3,239,631                    90,994


             54,386,206             30,044,505                                                              65,696,538               36,831,575


             78,672,896             78,672,896                                                              78,796,889               78,734,892

            136,116,746            108,717,401                                                             147,733,058             115,657,461

                               TOTAL ADJUSTED                                   TOTAL ADJUSTED                                 TOTAL ADJUSTED
                                      VALUE 1                                          VALUE 1                                        VALUE 1

                                   360,968,981                                                                                     451,225,953

                                   198,909,477                                                                                     262,524,870

                                      181,47%                                                                                          171,88%




                                                                                                                        ANNUAL REPORT 2023          931
Page 425
             MAIN                                 Management                              Company                              MANAGEMENT DISCUSSION
             HIGHLIGHTS                           Report                                  Profile                              AND ANALYSIS




      NSFR REPORT



      LIQUIDITY COVERAGE RATIO QUARTER

      Bank Name : PT. Bank Mandiri (Persero), Tbk (Individual)
      Report Position : December / 2023




                                                                                 Previous Reporting Date Position (September/2023)

                                                                  Carrying Value Based on Remaining Period (In Million IDR)
      No. ASF Component
                                                                                                                                               Weighted
                                                          Without a period                           6 months - < 1                           Total Value
                                                                                    < 6 months                             ≥ 1 Year
                                                              of time¹                                   Year

      1     Capital :                                            219,947,727                     -                    -       11,502,498       231,450,225

            Capital according to Minimum Capital
      2                                                          219,947,727                     -                    -       11,502,498       231,450,225
            Adequacy Requirement FSA Regulation

      3     Other capital instruments                                        -                   -                    -                   -                 -


            Deposits originating from individual
      4     customers and funding from micro and                 405,437,249           124,657,291          2,093,817            476,946       493,142,789
            small business customers:


      5     Stable deposits and funding                          269,634,088             4,216,662             75,694                 5,953    260,236,074


      6     Less stable Deposits and funding                     135,803,161           120,440,630          2,018,123            470,992       232,906,714

            Funding originating from corporate
      7                                                          507,429,410           148,777,926         26,096,631         68,057,889       364,361,724
            customers:

      8     Operational savings                                  465,350,125                     -                    -                   -    232,675,063

            Other funding comes from corporate
      9                                                           42,079,284           148,777,926         26,096,631         68,057,889       131,686,661
            customers

            Liabilities that have interdependent asset
      10                                                                     -          12,311,424            229,922            194,947                    -
            pairs

      11    Liabilities and other equity:                         39,779,114                     -                    -                   -            375


      12    NSFR derivative liability

            Equity and other liabilities that were
            not included in the above categories
      13                                                          39,779,114                     -                    -                   -            375
            Minimum Capital Adequacy
            Requirement

      14    Total ASF                                                                                                                         1,088,955,112



      15    Total HQLA in the framework of                                                                                                      40,304,440
            calculating the NSFR

      16    Deposits with other financial institutions           27,638,639                      -                    -                   -     13,819,319
            for Operational purposes

      17    Loans classified as Current and Special                          -         156,798,428        119,738,424        753,054,186       764,889,293
            Mention (performing) and marketable
            securities

            to financial institutions guaranteed by
      18                                                                     -           5,012,966                    -                   -        501,297
            HQLA Level 1




932   PT Bank Mandiri (Persero) Tbk.
Page 426
CORPORATE
 CORPORATE                   ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                         Financial
GOVERNANCE
 GOVERNANCE                  & PRACTICES                           RESPONSIBILITY                                   Statements 2023




                                                                                                                                   (in IDR million)

                                         Reporting Date Position (December/2023)
                                                                                                                                   No. Ref. from
                     Carrying Value Based on Remaining Period (In Million IDR)
                                                                                                                                     working
                                                                                                        Weighted Total Value       paper NSFR
   Without a period of
                               < 6 months            months - < 1 Year             ≥ 1 Year
         time¹

             236,564,684                        -                        -              12,058,834                248,623,518

                                                                                                                                               1.1
             236,564,684                        -                        -              12,058,834                248,623,518
                                                                                                                                               1.2

                         -                      -                        -                          -                          -               1,3


                                                                                                                                                 2
             403,209,034             125,632,961                1,533,663                     479,671             491,776,979
                                                                                                                                                 3


                                                                                                                                               2.1
             274,833,186                4,290,319                  60,792                       4,862             265,229,944
                                                                                                                                               3.1

                                                                                                                                               2.2
             128,375,848             121,342,643                1,472,871                     474,809             226,547,035
                                                                                                                                               3.2

             590,968,200             176,416,261               28,434,342               67,876,834                412,809,457                    4


             541,326,366                        -                        -                          -             270,663,183                  4,1


              49,641,834             176,416,261               28,434,342               67,876,834                142,146,274                  4,2


                         -            14,159,001                  204,009                      99,931                          -                 5


              39,963,311                        -                        -                          -                     597                    6


                                                                                                                                               6,1



              39,963,311                        -                        -                          -                     597           6.2s.d.6.5



                                                                                                                 1,153.210,551                   7



                                                                                                                   43,514,173                    1


              34,483,261                        -                        -                          -              17,241,630                    2


                         -           208,118,414              122,146,551              793,263,472                816,869,143                    3




                         -            16,205,580                         -                          -                1,620,558               3.1.1




                                                                                                                     ANNUAL REPORT 2023               933
Page 427
            MAIN                                   Management                             Company                              MANAGEMENT DISCUSSION
            HIGHLIGHTS                             Report                                 Profile                              AND ANALYSIS




                                                                                 Previous Reporting Date Position (September/2023)

                                                                  Carrying Value Based on Remaining Period (In Million IDR)
      No. ASF Component
                                                                                                                                               Weighted
                                                          Without a period                             6 months - < 1                         Total Value
                                                                                    < 6 months                             ≥ 1 Year
                                                              of time¹                                     Year

           to financial institutions that are not
      19   guaranteed with Level 1 HQLA and loans                            -          18,825,187            6,962,118       64,800,492        71,105,329
           to financial institutions without collateral

           to non-financial corporations, retail
           customers and micro and small business
           customers, the central government,
      20   governments of other countries, Bank                              -         112,530,384           90,721,968      548,350,692       567,724,264
           Indonesia, central banks of other
           countries and public sector entities,
           which include:

           meet the qualifications to receive a risk
      21   weight of 35% or less, according to the                           -          19,568,549           21,417,074       72,950,939        67,910,922
           FSA Circular Letter RWA for Credit Risk

           Residential mortgage-backed loans
      22   that are not being guaranteed, which                              -              35,829             112,384        46,916,589        39,953,207
           include:

           meet the qualifications to get a risk
      23   weight of 35% or less, according to the                           -                   924              3,823              55,377         38,368
           FSA Circular Letter RWA for Credit Risk

           Securities categorized as Current and
           Substandard (performing) that are not
           being pledged as collateral, have not
      24                                                                     -             824,588             521,058        19,980,098        17,655,906
           defaulted on, and are not included as
           HQLA, including shares traded on the
           exchange

      25   Assets that have liabilities that are                             -          12,311,424             229,922           194,947                    -
           dependent on each other

      26   Other assets:                                                     -           3,304,659             203,999       105,070,122       108,578,780

           Physical commodities that are traded,
      27                                                                     -                                                                              -
           including gold

           Cash, securities and other assets
           recorded as initial margin for derivative
      28   contracts and cash or other assets                                                      -                                                        -
           submitted as default funds to the central
           counterparty (CCP)


      29   NSFR derivative assets                                                        2,775,641                                               2,775,641

           NSFR of derivative payable before
      30                                                                                           -                                                        -
           deduction with variation margin

           All other assets that are not included in
      31                                                                     -             529,018             203,999       105,070,122       105,803,139
           the above categories

      32   Administrative Account                                                                                            359,549,519         6,646,738

      33   Total RSF                                                                                                                           934,238,570

      34   Net Stable Funding Ratio (%)                                                                                                           116.56%




934   PT Bank Mandiri (Persero) Tbk.
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GOVERNANCE
 GOVERNANCE                  & PRACTICES                           RESPONSIBILITY                                  Statements 2023




                                                                                                                                  (in IDR million)

                                         Reporting Date Position (December/2023)
                                                                                                                                  No. Ref. from
                     Carrying Value Based on Remaining Period (In Million IDR)
                                                                                                                                    working
                                                                                                       Weighted Total Value       paper NSFR
   Without a period of
                               < 6 months            months - < 1 Year             ≥ 1 Year
         time¹


                                                                                                                                            3.1.2
                         -            26,488,860                7,529,293               65,591,979                73,329,955
                                                                                                                                            3.1.3




                                                                                                                                          3.1.4.2
                         -           139,185,778               87,665,945              575,913,313               602,952,177                3.1.5
                                                                                                                                            3.1.6




                         -            24,676,366               26,783,022               83,050,605                79,712,588              3.1.4.1




                         -                  42,710                120,946               48,668,006                41,449,633              3.1.7.2




                         -                    576                   3,423                     63,170                  43,060              3.1.7.1




                         -              1,518,545                  43,922               19,976,398                17,761,172                  3,2




                         -            14,159,001                  204,009                     99,931                          -                 4


                         -             2,489,131                  206,005              101,859,864               104,555,001                    5

                         -                                                                                                    -               5,1




                                                 -                                                                            -               5,2




                                        1,968,893                                                                  1,968,893                  5,3


                                                 -                                                                            -               5,4


                         -               520,238                  206,005              101,859,864               102,586,107          5.5s.d.5.12


                                                                                       363,284,366                 6,941,575                   12

                                                                                                                 989,121,522                   13

                                                                                                                    116.52%                    14




                                                                                                                    ANNUAL REPORT 2023               935
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             MAIN                                Management                         Company                                 MANAGEMENT DISCUSSION
             HIGHLIGHTS                          Report                             Profile                                 AND ANALYSIS




      NSFR REPORT



      Nama Bank : PT. Bank Mandiri (Persero), Tbk (Consolidated)
      Report Position : December / 2023




                                                                      Previous Reporting Date Position (September/2023)

      ASF Component                                                            Carrying Value Based on Remaining Period (In Million IDR)

                                                                      Without a period                        6 months - < 1
                                                                                             < 6 months                              ≥ 1 Year
                                                                          of time¹                                Year

      1      Capital :                                                      261,660,083                   -                     -          13,925,761

             Capital according to Minimum Capital Adequacy
      2                                                                     261,660,083                   -                     -          13,925,761
             Requirement FSA Regulation

      3      Instrumen modal Other capital instruments                                   -                -                     -                   -


             Deposits originating from individual customers and
      4                                                                     514,724,048         168,060,696          8,054,658               483,293
             funding from micro and small business customers:


      5      Stable deposits and funding                                    287,735,829           8,017,178               581,534               7,137


      6      Less stable Deposits and funding                               226,988,219         160,043,518          7,473,123               476,156


      7      Funding originating from corporate customers:                  564,865,631         243,218,633         38,314,377             91,044,120


      8      Operational savings                                            519,390,440                   -                     -                   -


      9      Other funding comes from corporate customers                    45,475,190         243,218,633         38,314,377             91,044,120


      10     Liabilities that have interdependent asset pairs                            -       12,311,424            229,922               194,947

             Liabilitas dan ekuitas lainnya :
      11                                                                     40,856,974          15,034,333                     -           5,719,157
             Liabilities and other equity:

      12     NSFR derivative liability

             Equity and other liabilities that were not included in
      13     the above categories Minimum Capital Adequacy                   40,856,974          15,034,333                     -           5,719,157
             Requirement

      14     Total ASF




936   PT Bank Mandiri (Persero) Tbk.
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 CORPORATE                    ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                          Financial
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                                                Reporting Date Position (December/2022)

                           Carrying Value Based on Remaining Period (In Million IDR)                                            No. Ref. from working
     Weighted                                                                                                                        paper NSFR
                                                                                                    Weighted Total Value
    Total Value       Without a period                        ≥ 6 months - < 1
                                             < 6 months                              ≥ 1 Year
                          of time¹                                 Year

       275,585,844           280,316,351                  -                      -   14,561,660               294,878,011

                                                                                                                                                    1.1
       275,585,844           280,316,351                  -                      -   14,561,660               294,878,011
                                                                                                                                                    1.2

                  -                      -                -                      -              -                          -                        1.3


                                                                                                                                                      2
       637,055,482           521,723,670      169,630,203              7,581,098       486,519                644,697,662
                                                                                                                                                      3


                                                                                                                                                    2.1
       281,524,951           294,590,791         8,462,286              340,319           5,238               288,228,965
                                                                                                                                                    3.1

                                                                                                                                                    2.2
       355,530,530           227,132,878       161,167,916             7,240,778       481,282                356,468,698
                                                                                                                                                    3.2

       461,008,909           661,603,278      280,356,139             40,556,464     95,182,210               521,408,880                             4


       259,695,220           602,877,245                  -                      -              -             301,438,623                           4.1


       201,313,689            58,726,033       280,356,139            40,556,464     95,182,210               219,970,257                           4.2


                  -                      -     14,159,001               204,009         99,931                             -                          5


         5,719,532            41,286,140       15,454,949                        -    5,549,557                 5,550,154                             6


                                                                                                                                                    6.1


         5,719,532            41,286,140        15,454,949                       -    5,549,557                 5,550,154                   6.2 s.d. 6.5


  1,379,369,767                                                                                             1,466,534,707                             7




                                                                                                                               ANNUAL REPORT 2023          937
Page 431
            MAIN                                Management                               Company                               MANAGEMENT DISCUSSION
            HIGHLIGHTS                          Report                                   Profile                               AND ANALYSIS




                                                                                                                         Previous Reporting Date Position (September/2023)

                                                                                   Carrying Value Based on Remaining Period (In Million IDR) (
      ASF Component
                                                                           Without a period                        ≥ 6 months - <
                                                                                                  < 6 months                              ≥ 1 Year
                                                                               of time¹                                1 Year

      15    Total HQLA in the framework of calculating the NSFR

            Deposits with other financial institutions for Operational
      16                                                                          33,846,237           1,707,057                    -                  -
            purposes


            Loans classified as Current and Special Mention
      17                                                                                  1          194,703,434        137,580,650         998,960,875
            (performing) and marketable securities


      18    to financial institutions guaranteed by HQLA Level 1                              -        5,012,966                    -                  -

            to financial institutions that are not guaranteed with
      19    Level 1 HQLA and loans to financial institutions without                          -       21,594,641           8,509,704         66,645,020
            collateral

            to non-financial corporations, retail customers and micro
            and small business customers, the central government,
      20    governments of other countries, Bank Indonesia, central                       1          141,652,525        104,120,459         740,216,264
            banks of other countries and public sector entities, which
            include:

            meet the qualifications to receive a risk weight of 35% or
      21    less, according to the FSA Circular Letter RWA for Credit                         -       23,689,412         24,205,653          85,281,254
            Risk

            Residential mortgage-backed loans that are not being
      22                                                                                      -           35,829            112,384          46,925,723
            guaranteed, which include:


            meet the qualifications to get a risk weight of 35% or less,
      23                                                                                      -           31,992            111,394          38,209,399
            according to the FSA Circular Letter RWA for Credit Risk


            Securities categorized as Current and Substandard
            (performing) that are not being pledged as collateral,
      24                                                                                      -        2,686,070            521,058          21,683,215
            have not defaulted on, and are not included as HQLA,
            including shares traded on the exchange

            Assets that have liabilities that are dependent on each
      25                                                                                      -       12,311,424            229,922              194,947
            other

      26    Other assets:                                                         12,519,151           4,106,097            305,042         109,456,364

      27    Physical commodities that are traded, including gold                              -

            Cash, securities and other assets recorded as initial
            margin for derivative contracts and cash or other assets
      28                                                                                                       -
            submitted as default funds to the central counterparty
            (CCP)

      29    NSFR derivative assets                                                                     2,809,125

            NSFR of derivative payable before deduction with
      30                                                                                                       -
            variation margin

            All other assets that are not included in the above
      31                                                                          12,519,151           1,296,972            305,042         109,456,364
            categories

      32    Administrative Account                                                                   363,490,748

      33    Total RSF

      34    Net Stable Funding Ratio (%)




938   PT Bank Mandiri (Persero) Tbk.
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 CORPORATE                   ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                            Financial
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 GOVERNANCE                  & PRACTICES                            RESPONSIBILITY                                      Statements 2023




                                               Reporting Date Position (December/2023)

                          Carrying Value Based on Remaining Period (In Million IDR)                                             No. Ref. from working
    Weighted                                                                                                                         paper NSFR
                                                                                                    Weighted Total Value
   Total Value       Without a period                        ≥ 6 months - < 1
                                            < 6 months                               ≥ 1 Year
                         of time¹                                 Year

      44,147,956                                                                                               48,187,068                             1


      17,776,647             37,691,264         1,490,625                       -               -              19,590,944                             2



     989,703,025                        -    252,704,460           139,045,361 1,050,962,880                1,053,614,010                             3



         501,297                        -      16,205,580                       -               -               1,620,558                         3.1.1


      74,139,068                        -      29,606,024             9,072,235      67,342,768                76,319,789                        "3.1.2



                                                                                                                                                3.1.4.2
     749,102,653                        -     174,545,327            98,600,401     776,050,259                     3.1.3"                        3.1.5
                                                                                                                                                  3.1.6



      81,056,938                        -      28,536,182            31,090,743      95,927,939               792,974,184                      "3.1.4.2



      39,960,971                        -         42,710               120,946       48,700,429                     3.1.5                       3.1.7.2



      24,907,802                        -         31,211               117,114       41,230,901                     3.1.6"                      3.1.7.1




      20,034,296                        -       3,737,426               43,922       21,710,585                94,003,367                       3.1.4.1



                 -                      -     14,159,001               204,009          99,931                 41,477,192                       3.1.7.2

     124,180,314              5,077,335         3,285,771              288,149      105,035,385                26,874,248                       3.1.7.1

                 -                      -                                                                      20,344,671                           3.2



                 -                                       -                                                                 -                          4



        2,809,125                               1,997,827                                                     113,680,682                             5


                 -                                       -                                                                 -                        5.1


     121,371,189              5,077,335         1,287,944              288,149      105,035,385                            -                        5.2


       6,785,248                             366,830,616                                                        1,997,827                           5.3

    1,182,593,190                                                                                                          -                        5.4

         116.64%                                                                                              111,682,855                  5.5 s.d. 5.12

                                                                                                                7,062,055                            12

                                                                                                            1,242,134,759                            13

                                                                                                                 118.07%                             14




                                                                                                                               ANNUAL REPORT 2023          939
Page 433
              MAIN                                 Management                                Company                                MANAGEMENT DISCUSSION
              HIGHLIGHTS                           Report                                    Profile                                AND ANALYSIS




      Table 7.1 Disclosure of Market Risk using a Standard
      Method



                                                                                                                                                   (in IDR million)

                                                      December 31, 2023                                              December 31, 2022


      No. Types of Risk                       Bank                       Consolidation                        Bank                      Consolidation

                                    Expense                         Expense                         Expense                         Expense
                                                      RWA                             RWA                            RWA                                RWA
                                     Modal                           Modal                           Modal                           Modal

       (1)            (2)              (3)             (4)             (5)             (6)             (3)            (4)             (5)                (6)

      1      Interest Rate Risks        425,841       5,323,018                                         213,507      2,668,838         232,621          2,907,764

             a. Specific Risks               868         10,844                                              389            4,858       11,735            146,685

             b. General Risks           424,974       5,312,174                                         213,118      2,663,980         220,886          2,761,079

      2      Exchange Rat Risks         264,267       3,303,335                                         252,828      3,160,355         265,464          3,318,294

      3      Equity Risks *)                   -               -                                               -                -           485                6,059

      4      Commodity Risks *)                -               -                                               -                -              -                   -

      5      Option Risks                     33             413                                              29             366              29                366

      6      CVA                        108,276       1,353,449                                                -                -              -                   -

             Total                      798,417       9,980,215                                         466,365      5,829,558        498,599           6,232,483

      *) This risk is only calculated if there are Subsidiaries that have equity and/or commodity exposure




940   PT Bank Mandiri (Persero) Tbk.
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                      Table 7.2 Disclosure of Market Risk by Using Internal
                              Models (Value at Risk/VaR) – Bank Separately



                                                                                                                                         (in IDR million)

                                               December 31, 2023                                              December 31, 2022

 No Types of Risk
                              VaR              VaR          VaR             VaR End          VaR              VaR          VaR             VaR End
                             Aveage          Maximum      Minimum           Periode         Aveage          Maximum      Minimum           Periode


  (1)           (2)            (3)             (4)          (5)               (6)             (7)             (8)          (9)                (10)


 1      Interest Rate Risk       24,583          47,974       12,661            18,991          30,661          59,043       11,150              37,069


        Foreign Exchange
 2                               32,655          85,253           3,356         25,636          15,341          51,469           1,981           20,428
        Risk

 3      Option Risk                  7,089       26,108           1,115             2,193           3,064       12,607             70              1,108

        Total                    37,289          86,076       15,257            33,058          35,402          73,388       14,180              42,614




                                                                                                                          ANNUAL REPORT 2023                941
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               MAIN                              Management                                Company                                  MANAGEMENT DISCUSSION
               HIGHLIGHTS                        Report                                    Profile                                  AND ANALYSIS




      Tabel 7.3a
      Disclosure of Exposure to Interest Rate Risk in Banking
      Book (IRRBB)




      Bank Name : PT Bank Mandiri (Persero), Tbk. (Individual)
      Position  : December 2023
      Currency  : Rupiah and Valas



      In IDR million                                                                ΔEVE                                            ΔNII

      Period                                                     December 2023           December 2022           December 2023           December 2022

      Parallel up                                                         (2,202,450)             (8,817,299)                121,234              (2,844,960)

      Parallel down                                                        6,127,559              15,982,186              (3,091,515)             (2,508,387)


      Steepener                                                           (6,912,287)             (8,180,958)


      Flattener                                                            7,086,259               7,022,267

      Short rate up                                                        3,367,107               2,419,648

      Short rate down                                                     (4,517,455)             (3,116,714)

      Negative Maximum Value (absolute)                                    6,912,287               8,817,299               3,091,515               2,844,960


      Tier 1 capital (for ΔEVE) or Projected Income (for ΔNII)           209,724,274             181,072,852              67,392,637              58,798,950


      Maximum Value divided by Tier 1 Capital (for ΔEVE)                         3.30%                   4.87%                   4.59%                   4.84%
      or Projected Income (for ΔNII)




942   PT Bank Mandiri (Persero) Tbk.
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                                                                                        Tabel 7.4
                                                         INTEREST RATE RISK IN THE BANKING BOOK




 Bank Name : PT Bank Mandiri (Persero), Tbk. (Individual)
 Position  : December 2023
 Currency  : Rupiah and Valas

      Qualitative Analysis of IRRBB

 1    Explanation about how the Bank defines IRRBB for risk measurement and control

      The Interest Rate Risk in The Banking Book is a risk due to movements of interest rates in the market that run counter to the position of the
      Banking Book, which potentially impacts the capital and rentability (earnings) of the Bank in the current period or the future.

      The Bank uses 2 (two) methods in calculating the IRRBB, namely calculation based on changes in the economic value of equity, or ΔEVE, and
      calculation based on changes in net interest income, or ΔNII. The simulation of ΔEVE and ΔNII is performed according to interest rate shock in
      OJK Circular No. 12/SEOJK.03/2018 dated 21 August 2018.


      The Bank controls and mitigates interest rate risk using a recomposition of assets and liabilities or a hedging strategy.

 2    Explanation about IRRBB strategic management and mitigation

      The Bank adopts IRRBB control strategies that are in line with the Banks overall business strategies by considering the risk appetite and risk
      tolerance approved by the Board of Directors.

      Meanwhile, in response to changes in the economic value of equity (ΔEVE), the IRRBB mitigation strategies are formulated based on the
      duration of the positions (average repricing maturity) of assets and liabilities. As of December 31, 2023, Bank Mandiris individual ΔEVE was
      3.31%, far below the level set by the Regulator of 15%. The increase of ΔEVE compared to previous period was driven by the Banks internal
      strategy in managing assets & liabilities, specifically in optimizing liquidity.

 3    Periodic calculation of the Banks IRRBB and the explanation about specific actions taken by the Bank to measure sensitivity to IRRBB.

      To ensure IRRBB is monitored properly, the Bank calculates IRRBB every end-of-month of the reporting period and reports and publishes the
      result for every quarter position per the prevailing provisions. The measurement of sensitivity to IRRBB is in accordance with OJK Circular No. 12/
      SEOJK.03/2018 dated August 21, 2018:

      IRRBB calculation considers the whole Banking Book position by excluding equity and grouping it according to currency positions material to
      the Bank

      ΔEVE does not consider a commercial margin in the cash flow and discount on the cash flow.

 4    Explanation about shock scenario for interest rates and stress scenario used by the Bank to estimate changes in economic value and earnings.



 IRRBB exposures calculation is based on 6 (six) shock scenarios for interest rates:

                                                                                                                        Estimation of Changes
 Scenario                                                           Explanation
                                                                                                               Economic value              Earnings

 Parallel Up                             Interest rate shock that is parallel up                                       √                       √

 Parallel Down                           Interest rate shock that is parallel down                                     √                       √

                                         Steep interest rate shock in which short-term interest rates go
 Steepener                                                                                                             √
                                         down and longterm interest rates go up

                                         Flat interest rate shock in which short-term interest rates go up
 Flattener                                                                                                             √
                                         and long-term

 Short Up                                interest rates go down                                                        √

 Short Down                              Interest rate shock in which short-term interest rates go up                  √




                                                                                                                                   ANNUAL REPORT 2023       943
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             MAIN                               Management                                  Company                              MANAGEMENT DISCUSSION
             HIGHLIGHTS                         Report                                      Profile                              AND ANALYSIS




      Tabel 7.4
      INTEREST RATE RISK IN THE BANKING BOOK


      IRRBB exposures calculation is based on 6 (six) shock scenarios for interest rates:

                                                                                                                          Estimation of Changes
      Scenario                                                          Explanation
                                                                                                                Economic value             Earnings

                                              Interest rate shock in which short-term interest rates go down

      5
             Modelling assumption used significantly in the Internal Measurement System (IMS) – if any.

             The Bank has no modelling assumption that is used significantly in the Internal Measurement System (IMS) because the Banks assumption is
             different from the modelling assumption used in the IRRBB calculation with a standardised method

      6      Explanation about how the Bank hedges the IRRBB (if any), along with the relevant accounting treatment.

             The Bank makes hedging transactions on the interest rate risk position by considering risk appetite, business strategies, and projected future
             movements of market factors. The Bank does not apply the hedge accounting method in the hedging transaction accounting. The profit/loss
             arising from the hedging transaction is recorded in the Banks profit/loss statement.

      7      Comprehensive explanation about the primary assumptions of modelling and the parameters used to calculate ΔEVE and ΔNII.

             The following are the primary assumptions of modelling used to calculate ΔEVE and ΔNII:
             1. ΔEVE calculation does not consider a commercial margin in the cash flow and discount on cash flow while ΔNII calculation considers a
                commercial margin in the cash flow.
             2. The material impact of instruments having behavioral options, such as consumer credit, retail deposit, and NMD on ΔEVE and ΔNII has
                been factored in using the early prepayment model (for consumer credit), early redemption method (for termed deposit), and behavior
                analysis method for NMD. These models will affect the repricing time of the instruments inside the repricing gap.

             Quantitative Analysis

      1      Average repricing maturity applied to NMD.

             √√   Average Repricing Maturity for IDR Checking Account is 2.01 years (Retail) and 1.08 years (Wholesale
             √√   Average Repricing Maturity for USD Checking Account is 1.90 years (Retail) and 1.04 years (Wholesale)
             √√   Average Repricing Maturity for IDR Savings Account is 2.36 years (Retail) and 10,94 years (Wholesale)
             √√   Average Repricing Maturity for USD Savings Account is 2.36 years (Retail) and 0.78 years (Wholesale)

      2      The longest Repricing maturity applied to NMD.

             √√ The longest repricing maturity for NMD is 6 years.




944   PT Bank Mandiri (Persero) Tbk.
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                                                            Tabel 7.3b
                                        LAPORAN PERHITUNGAN IRRBB
             Disclosure of Exposure to Interest Rate Risk in Banking
                                                        Book (IRRBB)




 Bank Name : PT Bank Mandiri (Persero), Tbk. (Consolidated)
 Position  : December 2023
 Currency  : Rupiah and Valas


 In IDR million                                                          ΔEVE                                             ΔNII

 Period                                               December 2023           December 2022           December 2023           December 2022

 Parallel up                                                    (9,441,540)           (15,142,563)              (217,679)              (3,784,079)

 Parallel down                                                  14,395,450             22,835,061              (3,335,916)             (2,609,711)


 Steepener                                                      (8,288,576)            (8,778,230)


 Flattener                                                      (6,725,141)             6,058,388

 Short rate up                                                     340,892              (500,632)

 Short rate down                                                (1,635,207)             (316,160)

 Negative Maximum Value (absolute)                               9,441,540             15,142,563               3,335,916               3,784,079

 Tier 1 capital (for ΔEVE) or Projected Income (for
                                                               258,956,049             223,271,29              95,178,000              81,292,600
 ΔNII)

 Maximum Value divided by Tier 1 Capital (for ΔEVE)                   3.65%                   6.78%                   3.50%                   4.65%
 or Projected Income (for ΔNII)




                                                                                                                         ANNUAL REPORT 2023           945
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             MAIN                               Management                                  Company                                      MANAGEMENT DISCUSSION
             HIGHLIGHTS                         Report                                      Profile                                      AND ANALYSIS




      Tabel 7.4
      INTEREST RATE RISK IN THE BANKING BOOK




      Bank Name : PT Bank Mandiri (Persero), Tbk. (Consolidated)
      Position  : December 2023
      Currency  : Rupiah and Valas

      Qualitative Analysis of IRRBB

      1      Explanation about how the Bank defines IRRBB for risk measurement and control

             The Interest Rate Risk in The Banking Book is a risk due to movements of interest rates in the market that run counter to the position of the
             Banking Book, which potentially impacts the capital and rentability (earnings) of the Bank in the current period or the future.

             The Bank uses 2 (two) methods in calculating the IRRBB, namely calculation based on changes in the economic value of equity, or ΔEVE, and
             calculation based on changes in net interest income, or ΔNII. The simulation of ΔEVE and ΔNII is performed according to interest rate shock in
             OJK Circular No. 12/SEOJK.03/2018 dated 21 August 2018.

             The Bank controls and mitigates interest rate risk using a recomposition of assets and liabilities or a hedging strategy.

      2      Explanation about IRRBB strategic management and mitigation

             The Bank adopts IRRBB control strategies that are in line with the Banks overall business strategies by considering the risk appetite and risk
             tolerance approved by the Board of Directors.

             Meanwhile, in response to changes in the economic value of equity (ΔEVE), the IRRBB mitigation strategies are formulated based on the
             duration of the positions (average repricing maturity) of assets and liabilities. As of December 31, 2023, Bank Mandiris individual ΔEVE was
             3.31%, far below the level set by the Regulator of 15%.

      3      Periodic calculation of the Banks IRRBB and the explanation about specific actions taken by the Bank to measure sensitivity to IRRBB.

             To ensure IRRBB is monitored properly, the Bank calculates IRRBB every end-of-month of the reporting period and reports and publishes the
             result for every quarter position per the prevailing provisions. The measurement of sensitivity to IRRBB is in accordance with OJK Circular No. 12/
             SEOJK.03/2018 dated August 21, 2018:
             1. IRRBB calculation considers the whole Banking Book position by excluding equity and grouping it according to currency positions material
                 to the Bank
             2. ΔEVE does not consider a commercial margin in the cash flow and discount on the cash flow.

             Explanation about shock scenario for interest rates and stress scenario used by the Bank to estimate changes in economic value and
      4
             earnings.




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CORPORATE
 CORPORATE                        ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                        Financial
GOVERNANCE
 GOVERNANCE                       & PRACTICES                                RESPONSIBILITY                                  Statements 2023




 IRRBB exposures calculation is based on 6 (six) shock scenarios for interest rates:

                                                                                                                        Estimation of Changes
 Scenario                                                         Explanation
                                                                                                                 Economic value            Earnings

 Parallel Up                     Interest rate shock that is parallel up                                                 √                     √

 Parallel Down                   Interest rate shock that is parallel down                                               √                     √

                                 Steep interest rate shock in which short-term interest rates go down and
 Steepener                                                                                                               √
                                 longterm interest rates go up

                                 Flat interest rate shock in which short-term interest rates go up and long-
 Flattener                       term                                                                                    √
                                 interest rates go down

 Short Up                        Interest rate shock in which short-term interest rates go up                            √

 Short Down                      Interest rate shock in which short-term interest rates go down                          √




 5       Modelling assumption used significantly in the Internal Measurement System (IMS) – if any.

         The Bank has no modelling assumption that is used significantly in the Internal Measurement System (IMS) because the Banks assumption is
         different from the modelling assumption used in the IRRBB calculation with a standardised method

 6       Explanation about how the Bank hedges the IRRBB (if any), along with the relevant accounting treatment.

         The Bank makes hedging transactions on the interest rate risk position by considering risk appetite, business strategies, and projected future
         movements of market factors. The Bank does not apply the hedge accounting method in the hedging transaction accounting. The profit/
         loss arising from the hedging transaction is recorded in the Banks profit/loss statement.

 7       Comprehensive explanation about the primary assumptions of modelling and the parameters used to calculate ΔEVE and ΔNII.

         The following are the primary assumptions of modelling used to calculate ΔEVE and ΔNII:
         ΔEVE calculation does not consider a commercial margin in the cash flow and discount on cash flow while ΔNII calculation considers a
         commercial margin in the cash flow.
         The material impact of instruments having behavioral options, such as consumer credit, retail deposit, and NMD on ΔEVE and ΔNII has been
         factored in using the early prepayment model (for consumer credit), early redemption method (for termed deposit), and behavior analysis
         method for NMD. These models will affect the repricing time of the instruments inside the repricing gap.

 Quantitative Analysis

 1       Average repricing maturity applied to NMD.

         √√    Average Repricing Maturity for IDR Checking Account is 2.01 years (Retail) and 1.08 years (Wholesale
         √√    Average Repricing Maturity for USD Checking Account is 1.90 years (Retail) and 1.04 years (Wholesale)
         √√    Average Repricing Maturity for IDR Savings Account is 2.36 years (Retail) and 10,94 years (Wholesale)
         √√    Average Repricing Maturity for USD Savings Account is 2.36 years (Retail) and 0.78 years (Wholesale)

 2       The longest Repricing maturity applied to NMD.

         √√ The longest repricing maturity for NMD is 6 years.




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            HIGHLIGHTS                REPORTS      PROFILE   ANALYSIS




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GOVERNANCE          & PRACTICES       RESPONSIBILITY             Statemens 2024




               ESG
    IMPLEMENTATION
            REPORT


                                       Phase 1 sustainable
                                      environmental bonds
                                                                         Rp
                                                                              5
                                                                         trillion


                            Bank Mandiri actively contributes to the
                     achievement of Sustainable Finance goals by
                    establishing a Public Offering Program of Shelf-
             Registration Green Bonds I of Rp10 trillion and issuing
              Green Bonds Phase I of Rp5 trillion. The issued bonds
                  are divided into two series: A and B, with series A
              worth Rp1.95 trillion and a tenor of three years, and
             series B worth Rp3.05 trillion and a tenor of five years.
                The incoming offers totaled Rp18.7 trillion, or were
                                           oversubscribed 3.74 times.

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      ESG PRACTICES IN BANK MANDIRI




                     Bank Mandiri continues to be committed in
                    supporting the implementation of Sustainable
             Finance with aspirations to become “Indonesia’s
             Sustainability Champion for A Better Future” which is
             supported by three main pillars including Sustainable
             Banking, Sustainable Operation, and Sustainability Beyond
             Banking. In fostering the achievement of these three pillars,
             Bank Mandiri has established eight initiatives that have
             different focuses.




      Bank Mandiri is committed to
      implementing       sustainable     finance   VISI KEBERLANJUTAN BANK MANDIRI
      and sustainability principles in line with
      ESG aspects. Bank Mandiri believes
      that sustainable finance is needed to        Becoming Indonesia’s
      achieve a low-carbon and equitable
      economy where Bank Mandiri is present
                                                   Sustainability Champion
      as a partner of the government and an        For A Better Future
      agent of change, which has a positive
      impact on society. Sustainable finance
      is in line with the acceleration carried     KOMITMEN KEBERLANJUTAN BANK MANDIRI
      out by the Bank to achieve sustainable
      business growth. This is a form of Bank      • Lead Indonesia’s Transition to Low
      Mandiri’s commitment to support
      the achievement of Sustainable
                                                     Carbon Economy
      Development Goals (SDGs) and the             • Net Zero Emissions (NZE) Operation by
      Enhanced        Nationally   Determined
                                                     2030
      Contribution (ENDC) target towards
      Indonesia’s Net Zero Emission (NZE) in       • Catalyzing Multiple Growth for Social
      2060 or sooner.                                Impact to Achieve SDGs




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GOVERNANCE               & PRACTICES                 RESPONSIBILITY                       Statemens 2024




                                                          ESG PRACTICES IN BANK MANDIRI




 Bank Mandiri’s journey to support the
 creation of a low-carbon Indonesian
                                           Bank Mandiri’s
 economy began five years ago,
 when Bank Mandiri submitted its           Sustainability Framework
 Sustainable Finance Action Plan
 2019-2023 to the Financial Services
 Authority (OJK).
                                           Bank Mandiri has focused on sustainable finance initiatives
 Sustainable finance is the overall        over the past five years with the aim of increasing financing of
 support of the financial services         environmentally sound business activities, capacity building,
 industry for sustainable growth           and developing management systems to manage sustainable
 resulting from the alignment of           finance including changes to the organization, risk management,
 economic, social, and environmental       systems and procedures as well as related documents needed for
 interests. As a financial services        sustainable finance to perform effectively.
 institution, Bank Mandiri takes an
 active role in developing products        In the 2023 - 2027 period, Bank Mandiri’s sustainable finance
 and services which support financing      initiatives are managed with 14 initiatives in three main pillars,
 activities to improve customers’          namely; (1) Sustainable Banking; (2) Sustainable Operation; (3)
 environmental performance and             Sustainability Beyond Banking.
 improve social justice for businesses
 at the bottom of the pyramid and          Bank Mandiri also obtained ESG-based funding with the issuance
 integrate     Environmental,   Social     of Sustainability Bonds and other funding products. Bank Mandiri
 and Governance (ESG) aspects in           has had a sustainability framework since 2019 which is in line with
 the Bank’s business processes and         the provisions of POJK No. 51/POJK.03/2017 and other international
 practices.                                best practices.

 For Bank Mandiri, the value of            The establishment of ESG Group is one of the important steps for
 sustainability is the foundation in       Bank Mandiri in implementing sustainable finance, especially as a
 conducting business and operations        focal point for the implementation of sustainable finance at Bank
 to ensure that the Bank is able to        Mandiri. ESG Group was previously a task force appointed by the
 provide the best benefits for all         Board of Directors since 2019 which is now transformed into a full-
 stakeholders, positively contribute to    time permanent unit under the Vice President Director. ESG Group
 the environment and society, as well      acts as the person in charge of sustainable finance at Bank Mandiri.
 as actively participate in creating a
 better future for the next generations.   Details of sustainable finance achievements in the 2023 reporting
                                           period are outlined in more detail in the Sustainability Report.




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            MAIN
            IKHTISAR                       MANAGEMENT
                                           LAPORAN           COMPANY
                                                             PROFIL                          ANALISIS & PEMBAHASAN
                                                                                             MANAGEMENT    DISCUSSION &
            HIGHLIGHTS
            UTAMA                          MANAJEMEN
                                           REPORTS           PERUSAHAAN
                                                             PROFILE                         ANALYSIS
                                                                                             MANAJEMEN




      Journey To Becoming Indonesia’s
      Sustainability Champion For
      A Better Future

                    • Commitment to foster NDC
                      in Mandiri ESG Festival “Bank
                      Mandiri has committed to
                      achieving NZE (Net Zero
                      Emission) in Operations by
                      2030, Financing by 2060 (or
                      sooner) and empowering the
                      Digipreneurship” at the Mandiri
                      ESG Festival.
                    • Streamlining RAKB 2024-2028 into
                      8 initiatives
                    • The first National Bank to                   • Setting sustainability vision &
                      issue eco-friendly Bank cards                  commitment
         2023         (recycled prepaid and debit                  • Improvement of 3 pillars with
                      cards)                                         9 initiatives
                    • As a pioneer in cardless credit                1. Sustainable Banking
                      card products                                  2. Sustainable Operation
                    • As a pioneer of Digital Carbon                 3. Sustainability Beyond
                      Tracking                                           Banking
                    • Issuing Green Bond Phase 1 (Rp5              • Establishing ESG Group as
                      trillion)                                      ESG implementation control         2022
                    • Marketing ESG Mutual Funds                     tower
                    • Member of PCAF (Partnership for              • Nature Based Solution
                      Carbon Accounting Financials)                  through land conservation
                    • Participated in Indonesia’s                    and restoration
                      Inaugural Carbon Exchange                    • Credit Policy for Palm Oil &
                                                                     CPO, Energy, Coal, Mining
                                                                     and FMCG sectors
                                                                   • First ESG Repo transaction in
                                                                     Indonesia of US$500 million



                         • Member of the National Task
                           Force on Sustainable Finance
                         • Issued a Sustainability Bond of
         2021              US$300 million
                         • Operational Carbon Emission
                           Calculation
                                                                   Alignment of RAKB & Disclosure
                                                                   Sustainability Report with SDGs,     2020
                                                                   GRI SASB & MSCI




                         Application of RAKB in 3 Pillars
                         1. Sustainable Banking
                         2. Sustainable Operation
         2019            3. Sustainable CSR & Financial
                            Inclusion
                                                                   • First Movers of IKBI (Indonesian
                         A total of 14 initiatives
                                                                     Sustainable Finance Initiative)
                                                                   • Develop RAKB (Sustainable          2018
                                                                     Finance Action Plan) as per
                                                                     POJK 51/2017




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GOVERNANCE              & PRACTICES                RESPONSIBILITY                    Statemens 2024




                                           ENVIRONMENTAL PILLARS




                Bank Mandiri’s commitment to prioritizing
               environmental balance in its operational activities
       is reflected in the “Net Zero Emission (NZE) in Operations
       by 2030” commitment. To ensure the achievement of
       this commitment, Bank Mandiri has developed strategies
       to conserve resources regulated by three approaches,
       namely: (1) Green Business Mindset (2) Measurement
       and Monitoring of Operational Carbon Emissions (3)
       implementing net-zero carbon initiatives such as Green
       Operations, which involve energy consumption efficiency
       and low-emission office equipment, as well as Carbon
       Offsetting in the form of Nature-Based Solutions (NBS) and
       carbon unit purchases.




 ENVIRONMENAL PILLAR PERFORMANCE




                The first bank in Indonesia                 The first bank in Indonesia to
                to launch Digital Carbon                    launch an environmentally
                Tracking                                    friendly card




             Green Building                                                         Operational Vehicles
      1      Certified
             Building
                                 241      Smart
                                          Branch    727       Unit Solar
                                                              Panel           136   with Electric Vehicles
                                                                                    (EV)




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      ENVIRONMENTAL PILLARS




                                GHG EMISSION MEASUREMENT

      GHG Emissions Scope 1 and 2
      Bank Mandiri has measured operational carbon emissions of scope 1
      and 2, and made 2019 emissions as a baseline. For scope 3 emissions,
      Bank Mandiri has calculated emissions from financing (Financed
      Emission) according to the Partnership for Carbon Accounting
                                                                                                                                                                                                                                  18%
      Financials (PCAF).                                                                                                                                                                                                          Reduction in Scope-1 and 2
                                                                                                                                                                                                                                  Emissions compared to 2019
                                                                                                                                                                                                                                  baseline year


                                                                                                                                                                                                                                  18.07Million
                   283,113.19

                                358,753.56




                                                           254,173.21

                                                                        315,278.70




                                                                                                  249,937.90

                                                                                                               314,257.34




                                                                                                                                          260,082.45

                                                                                                                                                       302,780.19




                                                                                                                                                                                 252,636.00

                                                                                                                                                                                              295,713.18
      75,640.37




                                              61,105.49




                                                                                     64,319.44




                                                                                                                             42,697.74




                                                                                                                                                                    43,077.18




                                                                                                                                                                                                           Scope 1

                                                                                                                                                                                                           Scope 2

                                                                                                                                                                                                           Scope 3                Tons of CO2e Scope-3 emissions
                                                                                                                                                                                                           (Financed Emission)
                                                                                                                                                                                                                                  from financing
                  2019                                    2020                                   2021                                    2022                                   2023
      Historical data on Bank Mandiri’s scope 1&2 carbon emissions (tCO2e)




                                WASTE REDUCTION

                                                                    REDUCE                                                                    • Bank Mandiri does not produce effluent. Wastewater is processed through sewage

                                             3R                     REUSE
                                                                    RECYCLE
                                                                                                                                                treatment
                                                                                                                                              • The facility produces halal-labeled drinking water, as well as water used for cooling
                                                                                                                                                machines and watering plants




                  68%                                     Hazardous
                                                          Waste                                                                                           2023 1,520 Kg                                                   2022 4,400 Kg         2021 4,800 Kg




                                WATER CONSUMPTION

      • 2 Recycle Osmosis Building (Plaza Mandiri and Menara Mandiri)
      • 15% Increase in recycled water consumption by 2023


                  Water Consumption:                                                                                                                       2023 560,911 m3                                                2022 328,129 m3       2021 410,316 m3




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GOVERNANCE                         & PRACTICES                                RESPONSIBILITY                        Statemens 2024




                                                                                                ENVIRONMENTAL PILLARS




        REDUCTION OF PAPER CONSUMPTION


       46%            Paper Savings
                                                                    Avoid
                                                                    cutting down         23,000          trees by
                                                                                                         2023*

 *) Saving one ton of paper is equivalent to saving 20 trees (Source: goinggreentoday)




Eco-Friendly Policies
and Practices

 Eco-friendly policies and practices implemented throughout 2023 include::



 1. Energy Reduction and Utilization of Renewable Energy Sources

     Efforts to reduce energy consumption are carried out through a series of energy reduction and efficiency
     initiatives in banking operations. The Bank’s largest energy use is electricity consumption and the use of fuel
     oil for transportation and backup electricity.

     As such, the Bank took the initiative to replace air handling unit (AHU) equipment with more efficient ones,
     streamline the use of operational vehicles and provide electric & hibryd vehicles to save fuel consumption,
     use LED lights, turn off lights during break hours, and turn off certain elevators on holidays. Currently, 100%
     of LED lights have been used in 241 smart branches, while the total number of electric vehicles available
     until the end of 2023 was 136 units.

     The Bank also took the initiative to increase the use of renewable energy sources by installing 727 units of
     solar panels in several of its green buildings.


     The Bank managed to reduce electricity consumption by 0.6%
     from the previous year, amid increasing operational intensity and
     increasing company scale, while energy consumption intensity per
     employee decreased by 19.7% compared to the base year from
     52.40 Gjoules/Employee in 2019 to 42.10 G Joules/Employee in 2023.




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      ENVIRONMENTAL PILLARS




      2. GHG Emission Management and Reduction

         Bank Mandiri calculates Scope-1 Operational GHG emissions from fuel consumption from 4,083 operational
         vehicles, and Scope-2 GHG emissions from electricity consumption in 2,348 branch offices spread
         throughout Indonesia. To ensure the achievement of the “NZE in Operations by 2030” commitment, in 2023
         Bank Mandiri became the first bank in Indonesia to launch Digital Carbon Tracking that measures and
         monitors all operational emissions that can be accessed by stakeholders on the Corporate Website.

         This platform monitors the carbon footprint generated and emissions that have been successfully reduced
         from Bank Mandiri’s central operations to the regional office level in phase I and branches in phase II.
         Emission recording on Digital Carbon Tracking is in accordance with the Greenhouse Gas (GHG) Protocol.
         In the reporting year, GHG emissions in 2023 were recorded at 295,713 tCO2e, decreased by 63,040.38
         tCO2e from 2019 which amounted to 358,753 tCO2e or decreased 18% compared to baseline.

         2019 is the baseline for calculating operational emissions with pre-COVID-19 pandemic operational
         activities. During the pandemic period (2020 and 2021), Bank Mandiri did not operate fully due to social
         restrictions. Bank Mandiri’s efforts to reduce operational emissions can also be seen in the reduction in GHG
         emission intensity per employee from 9.18 tCO2e/employee in the baseline year (2019) to 7.59 tCO2e/
         employee in 2023.




      3. Construction and Development of Green Buildings

         Bank Mandiri implements the development of Green Buildings in all office space facilities, by setting green
         building standards that are developed gradually, including: optimization of sunlight lighting, use of LED
         lights, use of inverter air conditioners, use of timers to save electricity, use of Water Recycle system with
         Reverese Osmosis, use of low OTTV (Overall Thermal Transfer Value) glass, and so forth.


      	Until the end of 2023, Bank Mandiri already has: 1 unit of Green
       Building certified, 4 Green Buildings and 241 Smart Branches.


      4. Carbon Ofsetting

         Bank Mandiri realizes that to balance the carbon emission footprint of operational activities, non-operational
         activities are needed that can compensate for operational emissions (carbon offsetting), among others,
         through the purchase of carbon units, NBS, and other mitigation actions. Carbon reduction by offsetting
         is the last option after all efforts to reduce, substitution, and efficiency have been made by Bank Mandiri.
         Given the relatively short timeframe to achieve “NZE in Operations by 2030”, the Bank has initiated carbon
         offsetting initiatives through the purchase of carbon units and bolstered investment in Nature Based Solution
         (NBS) projects through land restoration and conservation.




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                                                                         ENVIRONMENTAL PILLARS




    On 26 September 2023, Bank Mandiri participated in the Indonesian
    carbon exchange by purchasing 3,027 tCO2 in the primary market
    or 10% of the total baseline operational emissions which in the future
    will be used for the Bank’s needs through the carbon offsetting
    mechanism.
    Bank Mandiri’s participation is also a tangible form of support for the Government’s strategic program
    on Primary Carbon Trading in Indonesia and increases the capability of employees to be able to play an
    active role in the Carbon Exchange in the future. In this historic momentum, Bank Mandiri is trusted by the
    Regulator, namely OJK as a socialization partner in the national seminar on carbon trading preparation in
    5 main cities in Indonesia.



 5. Waste Management

    Waste management is carried out by applying the 3 R principles (Reduce, Reuse, Recycle), namely
    optimizing paperless and digitalization programs such as Livin’ Super App, Kopra, and Branchless Banking
    and providing Reversed Vending Machine (RVM) as a means of exchanging PET bottle plastic waste to the
    machine and earning Livin’ points on the Livin’ App, to manage PET bottle plastic waste.


    This initiative succeeded in reducing waste generation, such as saving
    paper consumption by 46% from the previous year, as well as reducing
    plastic waste generation.
    Bank Mandiri collaborates with licensed and certified third parties to manage other B3 waste/waste as well
    as domestic waste.



 6. Water Consumption Management

    Several main Bank Mandiri office buildings already have water recycle for the water recycling process
    and ensure there is no pollution of water bodies around the office location. The Bank also uses a sewage
    treatment plant to manage effluent. This recycled water is then used for flushing toilets, plant maintenance,
    etc., so as to reduce the consumption of water supplied by third parties in these areas.

 A comprehensive information of environmental impact reduction is detailed in the Sustainability Report of
 Bank Mandiri, which is published concurrently but in a separate publication.




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            HIGHLIGHTS                REPORTS                         PROFILE               ANALYSIS




      ENVIRONMENTAL PILLARS




      Green Financing Policies

      Bank Mandiri also continually committed to not providing credit            In 2023, Bank Mandiri
      finances to business activities / enterprises with negative impacts to     conducted periodic
      the environment (exclusion / negative list), below:
      a. Illegal logging;                                                        reviews of existing
      b. Clearing on peatlands;                                                  priority sectors to
      c. Human rights violations in accordance with the Manpower Law
          and ILO Convention;
                                                                                 ensure alignment
      d. Drug abuse;                                                             with business
      e. Business activities that pose environmental hazards, including          developments and
          disrupting protected areas such as UNESCO World Heritage
          Sites, wetland sites as outlined in the Ramsar Convention criteria,    added Environmental
          and sites with high biodiversity and those classified as protected     and Social aspects
          areas under IUCN Cat-1 & Cat-2 as defined by the Convention
          on Biological Diversity;
                                                                                 to 6 (six) new sectors,
      f. Other business activities that are not in accordance with the           namely Pulp & Paper,
          provisions of applicable law which include, but are not limited        Telecommunications,
          to: Pornography; Gambling; Money laundering; Corruption,
          Collusion, and Nepotism Activities; and Other goods and services       Transportation,
          that are not in accordance with prevailing laws provisions.            Other Transportation
      Bank Mandiri is gradually integrating ESG aspects in the Bank’s credit
                                                                                 Equipment Industry
      policy by requiring the fulfillment of minimum criteria such as positive   (Shipbuilding),
      and negative screening of prospective debtors’ business activities.        Pharmaceuticals &
      Integration is carried out on the Standard Credit Procedure which
      requires:                                                                  Healthcare Services,
      a. Environmental management documents based on the industrial              and Oil & Gas
          sector and the prevailing regulatory provisions, including
          environmental impact analysis (AMDAL) documents for required
                                                                                 (Migas), which are
          business plans/activities or Environmental Management Efforts          outlined in the Industry
          (UKL) - Environmental Monitoring Efforts (UPL) documents;              Acceptance Criteria
      b. Results of the PROPER Assessment (Company Performance
          Rating Assessment Program in Environmental Management), in             (IAC).
          accordance with applicable regulations;
      c. Permits/Certifications       of   other   related     environmental
          management and other related environmental criteria in
          accordance with prevailing laws and regulations.

      Bank Mandiri has developed and implemented a lending policy
      that integrates ESG aspects in it, as well as enacting sectoral
      lending policy as a binding provision for business activities that are
      considered to have high ESG risk.




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                                                                                             ENVIRONMENTAL PILLARS




 Bank Mandiri Industry Acceptance Criteria
  Industrial Sector        ESG Aspect Criteria

  Agriculture (Including   In managing ESG risks in the agricultural sector, particularly Palm Oil & CPO plantations, Bank Mandiri requires
  the Palm Oil Sector)     ISPO and/or RSPO compliance or at least proof of ISPO and/or RSPO registration from the relevant certification
                           agency. Bank Mandiri also pays attention to environmental and labor policies of debtors (including Occupational
                           Health and Safety/OHS), procedures for preventing and handling land fires according to applicable standards,
                           No Deforestation, No Peat, No Exploitation (NDPE) policies including policies related to land clearing, preservation
                           of High Conservation Value (HCV) areas, and Waste Treatment Plants (IPL). Financing will not be provided to new
                           companies that will clear new land.
  Energy Sector            In managing ESG risks in the Energy and Energy Use sector, particularly the construction of new Steam Power Plants
                           (PLTU), Bank Mandiri considers the financing period to be in line with the coal phase out strategy in accordance
                           with the applicable PLN RUPTL and takes into account debtor policies related to the environment (carbon
                           emissions, coal ash, water and waste management) and labor policies.
  Coal Sector              In managing ESG risks in the coal sector, particularly suppliers of Steam Power Plants (PLTU), Bank Mandiri considers
                           the financing period to be in line with the coal phase out strategy in accordance with the applicable PLN RUPTL.
  Mining Sector            In managing ESG risks in the Mining sector, Bank Mandiri requires its debtors to implement Good Mining Practice in
                           accordance with prevailing laws and regulations, by including the Work Plan & Cost Budget (RKAB) for the relevant
                           year that has been approved by the Ministry of Energy and Mineral Resources, and/or other documents needed
                           in connection with Good Mining Principles and has internal policies (code of conduct) related to Environment
                           and Employment.
  Sector Fast Moving       In managing ESG risks in the Fast-Moving Consumer Goods (FMCG) sector, Bank Mandiri requires its debtors to have
  Consumer Goods           environmental policies (such as the use of chemicals and water & waste management) and have certification
  (FMCG)                   from the National Food and Drug Supervisory Agency (BPOM).
  Oil and Gas Sector       In managing ESG risks in the Oil and Gas sector, particularly in the upstream oil and gas exploration sector, Bank
                           Mandiri requires efforts to improve energy efficiency and reduce emissions, in accordance with regulatory
                           requirements at the business locations. For public companies, a Sustainability Report or similar documents shall be
                           published. Oil and Gas business activities must have documents confirming the fulfillment of all Oil and Gas Safety
                           requirements (Installation and Equipment, Workers, General, and Environmental), particularly supporting activities
                           proved by a Support Business Activity Certificate (SKUP).
  Biodiversity-related     Provide industrial plantation forest management permit documents in the form of Business Permits for the Utilization
  Sectors                  of Timber Forest Products (IUPHHK) and/or Non-Timber (IUPHHBK), Business Work Plans (RKU) approved by the
                           Ministry of Environment and Forestry. Prohibition to conduct business activities in areas declared to have high
                           biodiversity including RAMSAR material land sites and IUCN Cat.1&2 sites.
  Construction Sector      In managing ESG risks in the construction sector, Bank Mandiri requires debtors to have an internal policy (code
                           of conduct) related to Environment and Employment. Have internal policies and standard procedures (SOPs)
                           related to accident handling for toll road operators.
  Other transportation     Bank Mandiri requires its debtors to make the efforts to carry out energy efficiency and emission reduction, as
  equipment industry       evidenced by documents that can be received by the Bank. For public companies, it is mandatory to have a
  sectors (shipyards).     sustainability report.
  Health Services          Bank Mandiri requires its debtors to fulfill industrial plantation forest management permit documents in the form of
  Sector.                  Timber Forest Product Utilization Business License (IUPHHK) and/or Non-Timber (IUPHHBK), Business Work Plan (RKU)
                           approved by the Ministry of Environment and Forestry. Have in place an internal policy regarding Environmental
                           Management and K3 Management (Occupational Health and Safety) that is acceptable to the Bank.
  Pharmaceutical           Bank Mandiri requires pharmaceutical producer debtors to own the environmental permits/certifications (suitable
  Sector.                  to the risk of hazards caused by their waste, in accordance with the provisions of the Ministry of Environment).
                           Make the efforts to carry out energy efficiency and emission reduction, as evidenced by documents that can be
                           accepted by the Bank.
  Pulp & Paper Sector.     Bank Mandiri requires debtors to make the efforts to carry out energy efficiency and emission reduction, availability
                           of electricity and adequate water sources. Have a Wastewater Treatment Plant (WWTP) / Waste Treatment Plant
                           (IPL) / Liquid Waste Disposal Permit (IPLC) / and a Hazardous and Toxic Waste Treatment Plant (B3), evidenced by
                           documents acceptable to the Bank.




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       Industrial Sector     ESG Aspect Criteria

       Telecommunication     Bank Mandiri requires debtors to make the efforts to carry out energy efficiency and emission reduction, as
       Sector.               evidenced by documents that can be received by the Bank (if any). Have in place internal policies related
                             to data privacy in accordance with applicable laws and regulations, and have high systems and capabilities
                             related to cybersecurity.
       Transport Sector.     Bank Mandiri requires debtors to make the efforts to carry out energy efficiency and emission reduction, as
                             evidenced by documents that can be received by the Bank.
       Metal Sector.         Bank Mandiri requires debtors to have a PROPER assessment of at least Blue and/or at least have an AMDAL or UKL-
                             UPL report that has been approved by the Environment Agency (BLH). Have in place Environmental Management
                             certification such as ISO 14001 / ISO 45001 or other similar documents that can be accepted by the Bank.
       Sectors that are      Bank Mandiri establishes a binding credit policy for customers in this sector to pay attention to applicable
       sensitive to ESG      regulations and standards related to ESG, including the fulfillment of environmental management certifications
       aspects.              such as ISO 14001 and certifications related to occupational health safety such as ISO 45001 or other similar
                             standards. For debtors who have not been able to meet the specified requirements, there is a mechanism for
                             monitoring and preparing action plans to improve ESG aspects.



      To enhance ESG aspects, the Bank implements a strict action plan and establishes a monitoring mechanism
      for debtors who have not been able to satisfy the specified criteria.

      Prior to commencing the lending process to debtors, Bank Mandiri will, in practice, conduct an initial screening
      of ESG risks in line with its current policies. The Business Unit, Risk Unit, Legal & Compliance, Credit Operations,
      to the Credit Approver Officer execute this procedure. The lending flow of Bank Mandiri, taking into account
      ESG risks. is as follows.




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                                                                                           ENVIRONMENTAL PILLARS




                                     CREDIT APPROVAL PROCESS AT BANK MANDIRI

 Establishing targeted customers    Conducting credit analysis by       • Providing legal opinions       The credit approval process
 by:                                reviewing various aspects:            and legal solutions related    takes place during the
 • Conducting due diligence                                               to legal aspects, including    “Credit Committee Meeting,”
    on prospective debtors          • Qualitative Aspects: Industry       the ESG aspect, in credit      consisting a minimum of 2
    through Name Clearance            and market outlook, quality         granting.                      (two) individuals representing
    (KYC and APU PPT).                of company management.            • Reviewing the need for         the Business Unit and the Risk
 • Meeting prospective industry     • Legal and compliance                internal BMRI regulations      Management Unit, responsible
    criteria (Well Known, and not     documents (AMDAL/UKL,               and external (legislative      for making credit decisions.
    included in Bank Mandiri’s        PROPER, OHS, and other              regulations) in credit
    exclusion list).                  environmental regulations),         granting.
 • Complying with the Industry        business prospects/
    Acceptance Criteria (IAC),        strategies, and marketing
    taking into account the ESG       strategies.
    aspects.                        • Quantitative aspects such
                                      as financial performance.
                                    • Risk assessment and risk
                                      mitigation, including the
                                      ESG aspect, are part of the
                                      credit granting process.

           Business Unit +                 Business Unit + Risk                                                   Business Unit +
                                                                             Legal + Compliance
      Risk Management Unit                 Management Unit                                                      Risk Management

                                                                             LEGAL & COMPLIANCE                 CREDIT COMMITTEE
           PRE-SCREEN                       LOAN ANALYSIS
                                                                                     REVIEW                          MEETING




       LOAN MONITORING                       DISBURSEMENT                   LOAN DOCUMENTATION                   LOAN APPROVAL

           Business Unit +               Credit Operation Unit                   Business Unit +                     Authority
     Risk Management Unit +                                                   Risk Management +
      Credit Operations Unit                                                 Credit Operations Unit

 Monitoring credit quality          • Complience review                 • Business Unit:                 The officials authorized to
 through:                           • Loan Activation                     Fulfillment of credit          make credit decisions are
 • Periodic calls, on-site visits   • Loan Disbursement                   document requirements and      categorized according
 • Fulfillment of credit                                                  signing credit agreements.     to credit limits within Bank
    requirements                                                        • Risk Management Unit:          Mandiri’s internal regulations.
 • Annual review of credit                                                Reviewing the suitability      This responsibility is held by
    facilities                                                            of credit agreement            the Vice President, Senior
 • ALERT (Early Warning System)                                           documents with the             Vice President (SVP), and the
 • Stress tests and sensitivity                                           decisions of the credit        BoardLevel to CEO level.
    analysis                                                              committee meeting.
 • Monitoring loan documentary                                          • Credit Operations Unit:
    maturity dates                                                        Preparing credit agreements,
                                                                          collateral and insurance
                                                                          arrangements, and
                                                                          reviewing credit requirement
                                                                          compliance.




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      As of December 2023, the disbursement value of Sustainable Financing according to the Sustainable Business
      Activities Category (KKUB) in POJK 51/2017 was as follows:

      Sustainability Business Category Portfolio
      (Rp Billion)

       NO    Sustainable Financing (In accordance with KKUB POJK 51/2017)             2023          2022              2021

        1    Renewable Energy                                                              9,727      6,149             4,281
        2    Energy Efficiency                                                                  -            -                 -
        3    Pollution Prevention and Control                                                   -            -                 -
        4    Sustainable Natural Resources Management and Land Use                        102,413     92,956           88,537
        5    Conservation of Land and Water Biodiversity                                        -            -                 -
        6    Eco-Friendly Transportation                                                   3,926      3,107             2,028
        7    Sustainable Water and Wastewater Management                                   1,171           867          1,214
        8    Climate Change Adaptation                                                          -            -                 -
             Products That Can Reduce Resource Use and Produce Less Pollution
        9
             (Eco-Efficient)
                                                                                            5,354      3,307                   -

        10   Eco-Friendly Buildings that Meet Standards/Certifications                     6,612            16               205
        11   Other Environmentally Friendly Business Activities                            8,776      5,067             5,255
        12   Other Environmentally Friendly Business Activities                       126,101       117,295           103,547
             Total Sustainable Financing                                              264,080       228,764           205,067
             % Share of Sustainable Financing                                             24.32%    24.53%             24.76%




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                                                                                              ENVIRONMENTAL PILLARS




     SUSTAINABLE FINANCING


       Green          Rp 129.2                   Sustainable         Rp 264.1                         Social             Rp   134.8
       Portfolio      trillion                   Portfolio           trillion                         Portfolio          trillion




     SUSTAINABLE PRODUCTS


  WHOLESALE
                                  Green
                                  Loan
                                             Rp 3.5                Sustainability        Rp  2.1            Corporate-
                                                                                                            in-transition           Rp 736
                                             trillion              Linked Loan           trillion           Financing               billion



                                                         Electricity Vehicle                        Solar Panel Credit
  RETAIL                         Financing              Loan Rp  393 billion                        Rp 0.61 billion

                                                         Green Bond                       Green Sukuk              ESG Mutual Funds
                                 Investment             Rp   180 billion                Rp3.407billion                   Rp 17billion




     SUSTAINABLE FUNDING

     Sustainability   USD  300                    Green Bond
                                                  Phase I             Rp   5 trillion                 ESG Repo           USD  500
     Bond             million                                                                                            million




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      Bank Mandiri’s                                              sustainable financing according to market
                                                                  developments by encouraging customers

      Sustainable                                                 to have an ESG Financing Framework,
                                                                  including providing advisory services related
                                                                  to ESG Financing to customers in transitioning
      Finance Products                                            towards environmentally friendly business
                                                                  activities.

                                                                  As an initial step, Bank Mandiri has
      Bank Mandiri also provides sustainable financial            provided sustainable financing in the form
      products, such as debt funding instruments known            of Sustainability-Linked Loans (SLL), which
      as sustainable/green/social bonds. Sustainable              are loan instruments whose financial and/
      financing refers to the allocation of the proceeds          or structural characteristics can vary
      from the issuance of these bonds towards the                depending on whether the issuer can
      financing or refinancing of green projects, social          achieve predetermined sustainability/ESG
      development projects, or a combination of both.             goals. Bank Mandiri has provided SLL to
                                                                  several borrowers operating in high carbon-
      Sustainable Products                                        intensive sectors such as the cement industry,
                                                                  livestock farming, and palm oil.
      1. Wholesale
         1.1 Sustainability Linked Loan (SLL) & Corporate-        Moreover, Bank Mandiri has disbursed
             in-Transition Financing                              Corporate-in-Transition Financing, in line
             Bank Mandiri has also taken significant steps        with the Climate Transition Finance (ICMA
             to promote Indonesia’s transition towards a          CTF) from the International Capital Market
             low-carbon economy by continuously striving          Association.    This   Corporate-in-Transition
             to provide various sustainable products to           Financing aims to support companies with
             support its customers, especially those in high      high carbon emissions in their decarbonization
             carbon-intensive sectors, by offering financial      efforts. This form of financing reflects a
             solutions (such as Sustainability-Linked             commitment to sustainability towards a low-
             Loans, Green Loans, Corporate-in-Transition          carbon economy.
             Financing) that can assist in decarbonization
             and transforming their operations into               In the provision of Sustainability Linked
             more responsible, environmentally friendly           Loans & Corporate-in-Transition Financing,
             businesses with a smaller carbon footprint.          the funding follows a KPI-based approach
                                                                  and refers to the debtor’s ESG Framework.
              Bank Mandiri has established a special              By using key performance indicators (KPIs),
              task force called the ESG Desk with the             this funding not only supports sustainability-
              aim of aligning customer needs with                 focused projects but also provides incentives
              sustainable products and financing and              for debtors to achieve established ESG goals.
              developing other forms of green finance.            This approach reflects a collaborative spirit
              This is outlined in assignment document             between lenders and debtors in promoting
              number       CBG.CTS/5167/2023.     Through         sustainable practices in business activities
              the ESG Desk, Bank Mandiri continues to             and transition projects.
              identify business potential and innovate in




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                                                                           ENVIRONMENTAL PILLARS




     1.2. Green Loan                                                 service in addition to competitive interest
          Bank Mandiri actively contributes to                       rates, easy application and payment
          accelerating the achievement of a low-                     procedures (both offline and online), and
          carbon economy by providing banking                        application requirements.
          solutions that support eco-friendly business
          practices for debtors. One of the facilities               A special program was initiated since July
          provided is the Green Facility, which is                   2022 by Mandiri Tunas Finance to provide
          specifically designed to finance projects                  benefits to Bank Mandiri Priority Customers
          and initiatives that have a positive impact                and Private. The program offered financing
          on the environment. This funding follows the               facilities for new car vehicles with an interest
          Green Loan Principles set by the Loan Market               rate of 2.25% for a 1-Year Tenor, a maximum
          Association (LMA).                                         LTV of 90%, and an administration fee of Rp1.
                                                                     The financing scheme applies to prepaid
        Bank Mandiri demonstrated its commitment                     installments (ADDM), New Car Passenger
        in 2022 by taking significant steps to provide               Units, and Rates are applied to Priority
        a Green Loan facility for the EV Battery                     Customers and Private Bank Mandiri.
        Component Industry in Hong Kong. In its
        role as Mandated Lead Arrangers, Bank                    2.2. Solar Panels
        Mandiri played a central role in arranging                    Bank Mandiri demonstrates its strong
        the Green Loan syndication, totaling USD                      commitment to expediting the progress of
        300 million. This facility is aimed at the                    New Renewable Energy (EBT) in Indonesia
        lithium battery industry, including research,                 through the implementation of solar
        development, processing, production, and                      panel financing initiatives. Bank Mandiri,
        sales of precursor materials for cathodes.                    in collaboration with PT Energi Indonesia
        Additionally, the funding covers materials for                Berkarya (SUNterra) and other entities,
        recycling in the context of new materials and                 provides an affordable and installment-free
        energy.                                                       loan program that serves as a convenient
                                                                      and easy payment alternative for the
 2   Retail                                                           installation of residential solar panels. Bank
     Bank Mandiri demonstrates its commitment to                      Mandiri credit cardholder customers can
     supporting the attainment of carbon emission                     enjoy installments of up to 24 times with 0
     reduction targets by 2030 and Net Zero Emission                  percent interest through this program.
     financing 2060 in the Retail segment, alongside
     its Green Loan financing in the Wholesale                       In collaboration with the National Energy
     segment. This is exemplified through the launch                 Council (DEN) and PT LEN Agra Energy, Bank
     of a financing scheme for solar panel rooftop                   Mandiri also provides financing with credit
     installation and a battery-based electric motor                 card schemes or loans without collateral that
     vehicle ownership loan program (KBLBB).                         are affordable and can be paid in installments
                                                                     for customers to install solar panels. Through
     2.1. Battery-Based   Electric  Motor     Vehicle                the payroll scheme, consumers can apply
          Ownership Loans (KBLBB)                                    for loans with a maximum limit of Rp1 billion
          Bank Mandiri conducts automotive financing                 with a lending period of up to 15 years. The
          programs in collaboration with two of its                  lowest solar panel package price is 1 kWp
          subsidiaries, Mandiri Tunas Finance and                    worth Rp20 million and the highest package
          Mandiri Utama Finance, as part of the                      is 5 kWp with prices reaching Rp70 million
          ownership loan program of KBLBB. This                      (specifically for the Jabodetabek area).
          financing program provides expedited




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             Going forward, Bank Mandiri will continue        building process, resulting in oversubscription of
             to develop various sustainable products          more than 8.3 times the planned bond issuance
             targeting various business segments in line      amount. This demonstrates the appreciation and
             with best practices and customer needs.          positive perception of foreign investors towards Bank
                                                              Mandiri’s work program and business prospects,
                                                              especially regarding sustainable finance. The
      Sustainable Funding                                     positive confidence of investors is also evident from
                                                              the ratings given to these bonds by international
      Bank Mandiri promotes the disbursement of               rating agencies.
      sustainable funds and investments through the
      development of sustainable funding products, so as      Furthermore, in February 2022, Bank Mandiri
      to support the growth of sustainable financing.         diversified its sustainable financing instruments,
                                                              through wholesale funding by issuing the first ESG
      To support this commitment, Bank Mandiri issued a       Repurchase Agreement (Repo) in Indonesia and one
      Sustainability Bond with a nominal value of US$300      of the first movers in Southeast Asia. The Repurchase
      million on the Singapore Exchange (SGX) on 19 April     Agreement (Repo) transaction of US$500 million
      2021with an interest rate of 2.00% per year and a       is also used to finance or refinance green and
      tenor of 5 years. The funding is then used to finance   social business activities with criteria referring to
      or refinance green and social business activities.      Bank Mandiri’s Sustainability Bond Framework.
                                                              Bank Mandiri’s ESG Repo transaction is one of the
      The Sustainability Bond framework has been              strategic initiatives to strengthen the Bank’s funding
      prepared referring to the Sustainability Bond           structure in supporting business expansion plans.
      Guidelines from the International Capital Market
      Association (ICMA) and in line with the Association     In June 2023, Bank Mandiri again demonstrated
      of Southeast Asian Nation (ASEAN) Sustainability        its commitment to foster the growth of funding
      Bond Standards, Green Bond Standards, and Social        for sustainability programs by executing the Bank
      Bond Standards.                                         Mandiri Green Bond phase I offering a total of Rp5
                                                              trillion, which also received enthusiastic reviews from
      The issuance of this sustainability bond received an    investors.
      overwhelmingly positive response, with demand
      orders exceeding US$2.5 billion during the book




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                                                                         ENVIRONMENTAL PILLARS




             Bank Mandiri Green Bond Issuance
             Phase I Amounted to Rp5 trillion


       In June 2023, Bank Mandiri successfully issued the first phase of green bonds worth Rp5
       trillion. This issuance is part of the Shelf-Registration Green Bond Public Offering Plan I
       amounting to Rp10 trillion. The bonds will be issued in two series. Series A has a three-
       year tenure with a coupon rate of 5.80% per annum, while Series B has a five-year
       tenure with a coupon rate of 6.10% per annum. During the book building period from
       223 May to 4 June 2023, the subscription for the first phase of green bonds reached
       Rp18.7 trillion, resulting in an oversubscription of 3.74 times.


       After obtaining an effective date on 21 June 2023, Bank Mandiri’s green bond Phase
       I 2023 entered the public offering period on 23-26 June 2023. The bond is listed on the
       Indonesia Stock Exchange on 4 July 2023. The funds collected from the proceeds of
       the Green Bond Public Offering will be allocated at least 70% to finance or refinance
       activities included in 11 categories of Green Business Activities (KUBL).




 A comprehensive information of financing policies that have an environmental impact, as well as sustainable
 finance product is detailed in the Sustainability Report of Bank Mandiri, which is published concurrently but in
 a separate publication.




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      SOCIAL PILLARS




                     Bank Mandiri focuses its resources towards the
                   advancement of Human Resources, Data Privacy
             and Security, Financial Inclusion, and Consumer Financial
             Protection within the Social Pillar.




      SOCIAL PILLAR PERFORMANCE




           TO OUR CUSTOMERS


                                                                                             Resolution Rate

                   86.79                Customer
                                        Satisfaction Score
                                                                               100%          for Customer
                                                                                             Complaints




                         Over
                         22    million                        63,390
                         users as of                          users
                         December 2023

         Mandiri’s super app’to grow retail     Mandiri’s enabler to acquire       1st bank to integrate the services
         customer base and at the same          offline merchants, which started   of four e-wallet market leaders
         time ensuring its stickiness through   as complete point-of-sales         into a single, all-inclusive banking
         constant release of features           platform with huge scalability     app




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GOVERNANCE             & PRACTICES                  RESPONSIBILITY                         Statemens 2024




                                                                                       SOCIAL PILLARS




     FOR MANDIRIAN
                                     GENDER DIVERSITY
                                             BOD & BOC
                                          Male         Female                  5,339,236
                                          78%          22%                     Training hours


       38,965                              Manager Level
                                          Male
                                          54%
                                                       Female
                                                       46%
       Number of Employees
                                                                           89.65% order rate
                                          Total All Employee                                    employee
       (Mandirian)
                                          Male         Female
                                          48%          52%




     FOR THE COMMUNITY



      2.8 million                        17,935                            PEOPLE’S BUSINESS CREDIT


      Bank Mandiri accounts
      successfully opened
                                         participants
                                         of Indonesian Migrant
                                                                           Rp    62.3 trillion
                                                                               consisting of 2.88 million
      through Mandiri Agent              Workers through Mandiri               borrowers
                                         Sahabatku




      5.9+ million                       12,522                                 14,139
                                         farmers                                MSMEs
      beneficiaries of CSR               in Pamarican and                       have received training
      and financial inclusion            Kebumen received training              through the Rumah
      programs                           from the Rice Milling Unit             BUMN program
                                         (RMU) Program




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      A Culture of Sustainability
      for Mandirian

      The implementation of sustainable finance begins           campaign is also carried out through information
      with increasing Mandirian’s capacity to master ESG         dissemination to Bank Mandiri’s customers, partners
      topics relevant to Bank Mandiri’s business, particularly   and suppliers. In 2023, Bank Mandiri held two
      to develop financial products and services as well         Internal Discussion Forums, attended by all Directors
      as organizational adaptation to integrate ESG into         and Commissioners. Mandiri University Group has
      banking systems and procedures.                            facilitated ESG Awareness Level-1 e-learning to all
                                                                 employees, including ODP programs, sectoral ESG
      The engagement of all Mandirian is pivotal to carry        workshops (nickel & property), and ESG awareness
      out these changes through the development of a             implementation.
      culture of sustainability, which begins with building
      awareness of Mandirian to protect and preserve             As of 31 December 2023, Bank Mandiri was actively
      the environment in its daily activities. Sustainability    carried out socialization activities to support the
      culture programs include increasing technical              achievement of ESG awareness in the Bank’s
      capacity and ESG-related expertise for all levels          internal environment. Socialization has been
      of employees and work units, through training,             carried out to 34 work units and 12 regions, while
      workshops, webinars, and certification.                    the agenda discussed began with global and
                                                                 national commitments, regulatory regulations, and
      ESG Group acts as an ESG coordinator within Bank           ESG implementation that has been implemented at
      Mandiri, then bank-wide the Internal Culture Team          Bank Mandiri in each aspect. Moreover, socialization
      forms ESG buddy in each unit who acts as the person        is also aligned with the scope of work of related units
      in charge and bridges information related to ESG in        to obtain support in achieving Net Zero Emission
      their respective work areas. The sustainable finance       (NZE) 2030.




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                                                                                                                                    SOCIAL PILLARS




 Activities That Support Sustainable
 Strategies
 The following program is carried out to achieve Bank Mandiri’s commitment towards Net Zero Emissions (NZE)
 Operations in 2030, which requires active participation and collaboration of all employees in carrying out daily
 operational activities, including in carrying out activities/events/meetings in conformity with the set guidelines.



  NO MORE                                                                               SAY YES TO




  Disposable Plastic/         Leaving food and             Using balloons              Using a pitcher/tumbler to   Sorting garbage before       Save water
  Drinking Water in           drink                        and confetti in the         consume drinking water       disposal                     consumption
  Packaging (AMDK)                                         implementation of
                                                           events




  * Refer to Letter No. DCO/1268/2023 and Letter No. DCO/1269/2023 and
  Memorandum No. DCO/704/2023 Regarding the Appeal for ESG Program
  Implementation in order to Achieve Net Zero Emission (NZE) Operations 2030
  and Guidelines for the Implementation of More Eco-Friendly Activities/ Events/
                                                                                       Electronic distribution of   Save electricity and         Using public
  Meetings submitted to Subsidiaries, Regions, and each work unit.                     internal documents           set the air conditioner      transportation
                                                                                                                    at 23-25C°




Development for Mandirian

 In alignment with the Bank’s Corporate Plan, Bank                                           evaluation and organizational structure design
 Mandiri implements the employee experience                                                  implementation, career development, and
 lifecycle concept to establish the Employer Value                                           capacity planning to meet the needs of
 Proposition (EVP) and bolster the development of                                            employees.
 its best human resources. The following are Bank
 Mandiri’s employee experience lifecycle aspects:                                       2. Recruitment – Human Resource Fulfillment
                                                                                           Support in the establishment of a reliable Human
 1. Organization Structure & Capacity – Organization                                       Capital fulfilment system, sourced both internally
    Development                                                                            and externally, as well as the implementation of
    Support    for   organizational    development                                         employee attraction strategies and program
    encompasses activities such as position                                                development:




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         • The     MyDigital    Academy         Scholarship       development program is executed based on the
           collaborates with Top 10 leading universities/         assessment results.
           colleges in Indonesia, provides outstanding
           students who meet specific requirements the            Specific development programs planned
           chance to be awarded scholarships from                 for talents are the Leadership Development
           Bank Mandiri. This program also serves as an           Program, Master Degree study abroad and
           effective sourcing channel for Bank Mandiri            domestic      scholarship   programs,     sharing
           to acquire the best talent.                            sessions by Top Executive Leaders Indonesia
         • Campus hiring is carried out regularly with the        and Global. Another program is Mandiri Young
           target of graduates of various universities/           Leaders (MYLead) which is Bank Mandiri’s future
           colleges with the aim of building relationships        leaders’ development acceleration program
           and win-win collaboration to acquire the best          with sourcing from internal young talents who
           talent from campus.                                    have high potential to be developed as future
         • In collaboration with the Ministry of Education,       leaders. Finally, the implementation of coaching
           Culture, Research and Technology of the                and mentoring programs to improve leadership
           Republic of Indonesia, the Ministry of SOEs,           talent by professional coaches and mentors in
           and the Indonesian Diaspora through an                 their fields.
           Internship program for students both in the final
           semester and those who have graduated.              5. Performance     –   Individual    Performance
         • The MyDigital Academy competition for                  Management
           selected students from the best universities/          Employee     performance    assessment    and
           colleges in Indonesia. This program is also a          feedback system that is accountable and
           form of employer branding activities, as well          transparent.
           as talent scouting for Bank Mandiri to acquire
           the best talent.                                    6. Reward – Total Reward System
                                                                  Competitive and accurate employee reward
      3. Onboarding                                               system.
         An employee and new employee-friendly
         onboarding and personnel relations system.            7. Talent & Succession – Talent and Succession
         To facilitate the digitization of the onboarding         Management
         system, the new onboarding process is                    The implementation of talent and succession
         engineered to enhance interactivity by                   management system comprises four main
         employing gamification-based learning. This              processes, as follows:
         entails accessing ten learning topics online over        • Talent classification based on performance,
         a span of three months.                                     Leadership Characteristics, Ability, Agility and
                                                                     Engagement.
      4. Learning & Development – Training and                    • Talent Profiling based on track record,
         Development                                                 technical capability, leadership capability
         Human capital capability development and                    dan personality.
         training to support the fulfilment of business           • Talent Development is carried out by
         requirements. Each talent’s technical and                   preparing plans and carrying out talent
         leadership proficiencies will be honed through              development based on capability gaps.
         the engage, expose, and educate mechanisms.              • Strategic Talent Review that monitors
         To ascertain the preparedness of each potential             development and prepares incumbent
         successor, the Bank shall devise a specific                 succession plans.
         Individual Development Plan (IDP) for that
         particular talent. To ensure that the development     8. Retire & Exit – Employee Dismissal and Retirement
         provided is consistent with talent profiling, the        Employee termination system and pension plan.




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 Gender Equality
 Bank Mandiri strives to take a role in social aspects, one of which is by implementing policies that are in line
 with the application of Environment, Social, Governance (ESG) principles, particularly in social aspects. In this
 aspect, initiatives that align with the implementation of the Respectful Workplace Policy (RWP) of ‘Human
 Rights’, which is how companies manage and respect Human Rights (HAM) in operational activities, accept
 and treat employees equally regardless of ethnic background, gender, religion, or ethnicity. This equality and
 diversity policy, among others, is implemented from the beginning of the recruitment process, and continued
 in the training and promotion system.

 In terms of equality, Bank Mandiri opens the greatest opportunity for female employees to work. Bank
 Mandiri ensures that all employees have the same opportunity to occupy all existing positions along with all
 compensation and benefits.



 This is reflected in the number of female employees contributing as
 much as 52% of the Company’s total human resources. Meanwhile,
 female executives at the level of Manager to SVP accounted for 46%.
 It doesn’t stop there; the ratio of salaries and facilities of male and
 female employees is equivalent to 1: 1 as it is based on performance.
 Moreover, Bank Mandiri also continues to support female employees through the Srikandi Mandiri initiative.
 Various activities that support the initiative include women’s leadership sessions, mentoring programs for
 women, and others.

 As of the end of 2023, Bank Mandiri manages 38.940 personnel (52.32% female and 47.68% male), up 2% from
 38,176 personnel in the previous year. Of this number, 35.17% of female occupy the top-level management,
 namely Assistant Vice President to Director.

 Bank Mandiri Employee according to Employment Status and Gender
                                              2023                          2022                           2021
  Information
                                     Male            Female         Male           Female          Male           Female
  Permanent Workers                       16,601        17,762        16,630          18,017         16,670          18,105

  Contract Workers                         1,721         2,416         1,478           1,701          1,288           1,447

  Trainee                                   244               196          214              136           182              148

  Total                                   18,566        20,374        18,322          19,854         18,140          19,700


 Employee Turnover
 The turnover rate of Bank Mandiri employees in 2023 was 5.26% with total incoming employees of 2,797
 personnel and total outgoing employees of 2,048 personnel. This number is higher than previous year figure of
 4.84%. Bank Mandiri carries out various efforts to increase employee retention, one of which is by increasing
 employee engagement, creating a super happy and super productive work environment, and building a
 comfortable work environment.



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      Employee Training and Development                           hours throughout 2023 was 5,339,236 training hours
      In addition to getting benefits, Bank Mandiri               with the average training hours per employee of
      employees also receive education and training to            135.1 hours/employee or equivalent to 16.9 days/
      develop employee potential and compensation.                employee.
      In 2023, the number of training participants was
      790,101 participants with the number of employees           Comprehensive information on Bank Mandiri’s
      receiving training of 39,517 employees consisting           human resource development is detailed in the
      of 18,894 male employees and 20,623 female                  Human Resources sub-chapter in this Annual Report.
      employees. The total number of employee training




      Financial Inclusion
      Bank Mandiri actively participates in financial inclusion efforts by expanding and facilitating access to financial
      services for the public. Convenient access to financial services can reduce economic inequality and foster the
      post-pandemic economic recovery process. The targets of Bank Mandiri’s financial inclusion are:
      1. Low economic society (micro).
      2. Secondary society (unbanked and underbanked).
      3. Groups with low and irregular incomes.
      4. People living in remote areas.
      5. People with disabilities.
      6. Workers who do not have legal identity documents.
      7. Rural and peripheral communities.
      8. Areas with limited formal financial networks due to geographical constraints, diffuse populations, and low
         financial literacy.

      In order to open access to banking services as much as possible, as well as participate in overcoming social
      issues, Bank Mandiri participates in the Financial Inclusion program by providing banking services for MSME
      entrepreneurs to micro entrepreneurs.




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 ACCESS TO MSME LOANS
 Micro, Small and Medium Enterprises (MSMEs) are vital        To deepen market share, Bank Mandiri provides
 business communities in Indonesia. MSMEs constitute          special offers for MSMEs related to Bank Mandiri’s
 the largest proportion and user of direct labor in the       wholesale customers or ecosystem financing.
 economy. As the backbone of the economy, the                 Bank Mandiri customers who are multinational
 Government fosters MSMEs to innovate to elevate              companies, large companies, to State-Owned
 to a higher level and play a greater role in improving       Enterprises are the center of this ecosystem. MSMEs
 the community’s economy.                                     that are included in the ecosystem can attain more
                                                              competitive interest rates than the applicable Micro
                                                              Business Loan Interest Rate Program (KUM).
 Bank Mandiri’s support to MSMEs
 by providing access and capital                              MSME loans are provided through Working Capital
 is a portfolio development that                              Loans and Investment Loans, Bank Mandiri also
                                                              provides Micro Business Loans (KUM) and participates
 has a positive social impact                                 in Government programs by providing People’s
 as it improves living standards,                             Business Loans (KUR) in the micro banking segment.
 job opportunities, and poverty
                                                              In 2023, Bank Mandiri expanded access to financial
 alleviation. Bank Mandiri has                                services for MSME business practioners in the fisheries
 1.2 million MSME debtors who                                 sector by collaborating with fisheries start-up PT
                                                              Rantai Pasok Teknologi (FishLog). This collaboration
 benefited from MSME loans of                                 allows Fishlog partners in the fishing industry sector,
 Rp126.1 trillion, grew 7.5% from the                         both bankable and unreachable by conventional
 previous year. This achievement                              banks, to have adequate business scale.

 was also followed by the ratio                               Digitalization is one of the main issues that must be
 of non-performing loans (NPL) in                             addressed by MSME communities. Bank Indonesia
                                                              (BI) stated that during the pandemic, the number of
 the MSME segment which was                                   e-commerce transactions almost doubled from 80
 maintained at the level of 1.34%.                            million transactions in 2019 to 140 million transactions
 This MSME loan portfolio reached                             in August 2022. This indicates that adaptation
                                                              to e-commerce transactions based on digital
 24.3% of the Bank’s total loan                               technology is imperative for MSME communities in
 portfolio.                                                   line with the opening of huge market opportunities
                                                              (Bank Indonesia, 2022).




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      Bank Mandiri has released the Livin’ Merchant by Mandiri application to open wider access to finance for
      micro-class productive businesses. Livin’ Merchant is a cashier application aka point on sale (POS) that will
      digitize payment transactions at MSME merchants; to ensure that they can directly accept QRIS transaction
      payments from various banks and e-wallets. Currently, the Livin’ Merchant application can be enjoyed without
      fees, free of transaction fees, and MSME communities can disburse funds on the same day up to three times
      a day.


      Bank Mandiri’s digital distribution network innovation consists of Livin’
      App, with 21 million registered users, Livin’ Merchant with around 1.4
      million registered merchants, KOPRA platform which is currently used
      by more than 95% of Bank Mandiri’s wholesale customers, and 241
      Smart Branches which are digital transformation of Bank Mandiri’s
      conventional branch offices.


      Micro, Small and Medium Enterprises Segment Financing (Rp Billion)
       No.                                             Sector                         2023                2022

        1     Palm Oil and CPO Plantations                                              21,651.18           19,278.91
        2     Retail Trade of Food, Beverages, and Cigarettes                           16,881.72           36,772.69
        3     Hotels, Restaurants and Accommodation                                      9,971.93            9,380.37
        4     Retail Trade of Home Appliances                                            8,630.64            8,411.45
        5     Agriculture                                                                5,722.69            5,491.57
        6     Non-Financial Business Services                                            5,208.41            5,343.10
        7     Social Services and Institutions                                           4,911.95            4,374.70
        8     Land Transportation Services                                               3,846.86            3,348.76
        9     Livestock and Animal Feed                                                  3,756.88            3,510.38
        10    Retail Trade of Textiles and Textile Products                              3,364.03            3,680.76
        11    Others                                                                    41,548.40           37,702.34
        12    Total                                                                    125,494.69          117,295.03




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 MICRO FINANCING ACCESS
 Bank Mandiri consistently fosters MSME business practitioners to increase business competitiveness capacity
 so as to promote economic growth and employment through Micro financing. In disbursing micro loans to
 MSMEs, Bank Mandiri utilizes the upstream-downstream scheme (close loop) in accordance with regional
 strategy by optimizing the value chain ecosystem of Bank Mandiri’s wholesale customers.




 KUR AND KUM PERFORMANCE



                                                                                         692,043

                                                                           601,769

                                                              512,573
                                               467,898
                                 429,035
     384,838     389,854
                                                                                         44,488
                                                                           38,965
                                                               33,113
                                               27,072
                                  22,595
                 17,071
      13,996                                                                                                 KUM

                                                                                                             KUR

      6,571       6,118           6,126         5,672          6,040        7,424        10,087
                                                                                                             Total Debtors
      2017        2018            2019          2020           2021         2022          2023




                                 43%                                                         56%


                                                             DEBTORS


                            Rp37.35 trillion                 Portfolio                Rp44.49 trillion
                          528,942 debtors                      Total                 692,043 debtors
                                    94.22%             Current Collectivities                     95.49%
                                     1.12%                      NPL                                1.58%




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      People’s Business Loans (KUR)

      People’s Business Loans (KUR) is a working capital and/or investment loans to individual debtors, business
      entities, and/or business groups that are productive and feasible but do not have additional collateral or
      insufficient additional collateral. The KUR program aims to increase access to financing for MSMEs to enable
      business capacity and competitiveness to also increase.

      Bank Mandiri with core competence as a wholesaler Bank develops an ecosystem-based KUR disbursement
      strategy. In this strategy, Bank Mandiri collaborates with companies that have become wholesale debtors to
      then provide recommendations for their managing partners to be financed by KUR.

      Bank Mandiri serves three types of KUR, as follows:
      • KUR Retail with loan ceiling above Rp25 million to a maximum of Rp200 million per debtor, and a maximum
         period of 3 years for working capital loans and 5 years for investment loans.
      • KUR Micro with a maximum loan ceiling of up to Rp25 million per debtor and a maximum period of 2 years.
      • KUR TKI with a maximum loan ceiling of up to Rp25 million per debtor with a period adjusted to the
         employment contract period or a maximum of 12 months.

      By implementing the KUR disbursement strategy through this ecosystem, MSMEs can gain better access to
      financial services, including KUR disbursement in a fast process.


      Meanwhile, from the beginning of disbursement in 2008 to 2023, Bank
      Mandiri has disburse KUR to 2.8 million debtors with a disbursement limit
      of Rp224.91 trillion.




      KUM Micro Business Loans (KUM)


      Micro Business Loans (KUM) is a loan provided to micro entrepreneurs to finance productive business needs
      both for investment needs and working capital needs. One of the advantages of Micro Business Loans is the
      interest rate that competes with fixed installments every month with easy application conditions and a fast
      loan process.

      KUM disbursement is one of Bank Mandiri’s roles in assisting MSMEs to develop, expand reach, boost output,
      and enhance competition in the market, allowing them to positively contribute to the local economy.


      During 2023, Bank Mandiri has disbursed Micro Business Loans
      amountingto Rp15.674 billion with a total of 361,270 active debtors.




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 Financing to Women via MSME Loans

 Women play an important role in the progress of the MSME ecosystem in Indonesia. Bank Mandiri is committed
 to helping increase the business competitiveness capacity of MSME communities, particularly women, allowing
 them to actively contribute to fostering economic growth and helping to expand employment.


 In the last five years, Bank Mandiri has a portfolio of active women micro
 entrepreneurs as many as 692,043 debtors with total loans of Rp44.5
 trillion through KUR and KUM products. This number makes women
 debtors of Bank Mandiri micro entrepreneurs occupy the largest portion
 of the total debtors or around 56.7% of the total active debtors of the
 micro segment of 1,220,985 debtors.

 The credit quality of women debtors also indicates better quality than male debtors, with current collectability
 of 99.49% and Non-Performing Loans of 1.12% as of December 2023. Meanwhile, the current collectability of
 male debtors was 94.22% with Non-Performing Loans of 1.58.




 Simpanan Mandiri Makmur (SiMakmur)

 SiMakmur is a rupiah-based individual deposit account service that uses technology and information from
 Mandiri Agents to make banking services more accessible to everyone. SiMakmur has the advantage, which is
 free minimum account balance and free monthly administration fee. Customers with SiMakmur accounts are
 facilitated in transactiion without having to visit the Bank’s branch office and simply visit the nearest Mandiri
 Agent. SiMakmur services have been guaranteed by the Deposit Insurance Corporation (LPS).

 Bank Mandiri continues to promote inclusivity for people with disabilities through the Inclusive Economic
 Acceleration Movement by opening 10,000 new savings accounts for people with disabilities throughout West
 Java, Central Java, and Yogyakarta. Bank Mandiri provides various types of savings products according to
 the needs of prospective customers ranging from Tabungan Now, Tabungan Mitra Usaha, and Tabungan
 Simpanan Pelajar (SimPel) for people with disabilities who do not have a National Identity Number (NIK).

 Comprehensive information on Bank Mandiri’s Financial Inclusion is detailed in the Sustainability Report of Bank
 Mandiri, which is published concurrently but in a separate publication.




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      Consumer Protection
      The Bank Operational Policy of Bank Mandiri                1. Collection can only be done if the quality of
      governs the execution of consumer protection                  the debtor’s receivables is included in the bad
      functions. Subsequently, internal policies within             quality.
      each work unit further elaborate on this policy. This      2. Informing the debtor if the collection of the
      demonstrates the Bank’s commitment to support a               debtor’s obligations has been submitted to the
      reliable consumer protection system and achieve a             Collection Service Provider Company.
      financially sustainable, sound system that safeguards      3. Collection is prohibited by using physical or
      the interests of the public and consumers.                    verbal pressure;
                                                                 4. Collection is prohibited from being made to
      Since October 2022, Bank Mandiri has also                     parties other than the debtor;
      established a Consumer Protection Unit as                  5. Collection using means of communication is
      mandated by OJK Regulation No. 6/POJK.07/2022                 prohibited from being continuously disruptive;
      concerning Consumer and Public Protection in the           6. Collection can only be done at the place of the
      Financial Services Sector, which is responsible for:          debtor’s billing address or domicile;
      1. Disseminate the principles of Consumer                  7. Collection can only be done from 08.00 to 20.00
         Protection to all PUJK Employees.                          time in the debtor’s domicile area.
      2. Coordinate the planning and implementation
         of PUJK compliance with Consumer Protection             In addition, the policy also regulates the rights of
         provisions.                                             creditors to:
      3. Coordinate monitoring and evaluation of                 1. Obtaining a sufficient explanation of the
         the implementation of PUJK compliance with                 characteristics of the product.
         Consumer Protection provisions.                         2. Access the terms and conditions of fund products
      4. Report on implementation and provide                       through the Bank Mandiri website.
         recommendations to the Board of Directors               3. Obtain transaction convenience through
         related to Consumer Protection.                            branches, e-banking services or other facilities
      5. Coordinate the preparation and submission of               determined by the Bank.
         reports related to Consumer Protection.                 4. Earn interest in accordance with the applicable
                                                                    provisions at the Bank.
      In addition to having a consumer financial protection      5. Obtain information on procedures for handling
      policy, Bank Mandiri also has a debt collection               and resolving customer complaints.
      policy that contains the fulfillment of debtor rights as
      stated in:                                                 In the lending process, Bank Mandiri prioritizes
      1. Bank Mandiri’s Credit Policy with the latest            the principle of prudence and regular portfolio
          amendments was signed by the Board of                  monitoring. The application of the due-diligence
          Directors and is effective as of 7 March 2022.         in the lending process is reflected in the escalation
      2. Standard Credit Collection & Recovery                   mechanism in the loan approval and monitoring
          Operating Procedures as last amended in 2022.          process for large-scale and high-risk debtors.
      3. Other related internal regulations
                                                                 The lending process flow of the Loan Monitoring
      The regulation generally upholds debt collection           Stage includes the Watchlist mechanism as one of
      procedures while safeguarding the welfare of               several methods for assessing the creditworthiness of
      debtors as consumers. When a Collection Service            existing debtors. This mechanism functions as an Early
      Provider Company handles the collection, Bank              Warning Signal to assess the credit quality extended
      Mandiri shall ensure the following:                        by examining three key factors: the debtor’s future




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 business prospects, financial performance, and             OJK Financial Services Advertising Guidelines.
 repayment history.                                         Consequently, published communication materials
                                                            are also pay attention to the interests of consumers/
 In the event that a decline in quality is detected         customers. In its implementation, all Product and
 during the review process, Bank Mandiri will               Service Marketing Communication activities are
 intervene to rescue non-performing loans. An               reported periodically to the Board of Directors.
 initiative undertaken by the Bank to address non-
 performing credit debtors who maintain viable              Bank Mandiri manages several financial literacy
 business prospects and performance, and ability            programs to improve people’s financial literacy
 to repay, with the aim of minimizing the possibility       regarding finance and banking. Some of these
 of losses for the Bank and instill confidence in the       programs are:
 lending.                                                   1. MSME Education on Livestock – “Seizing Business
                                                               Opportunities for the Laying Chicken Farm
 The loan rescue may involve restructuring.                    Ecosystem”
 The following restructuring measures may be                2. MSME Education to Support Infrastructure
 implemented:                                                  Development
 1. Reduction in lending rates;                             3. Mandiri Education
 2. Extension of credit term;                               4. Education and Socialization of Tabungan
 3. Reduction of credit interest arrears;                      Simpanan Pelajar (SIMPEL) and One Account
 4. Reduction of credit principal arrears;                     One Student Program (KEJAR)
 5. Additional credit facilities; and/or                    5. Financial Management and Planning for Payroll
 6. Conversion of credit into temporary capital                Customers
    participation,                                          6. Personal Finance Webinar
                                                            7. Empowering        Indonesian   Migrant    Workers
 Bank Mandiri has also established the Business                through the Mandiri Sahabatku entrepreneurship
 Committee and Risk Management & Credit                        program.
 Policy Committee, both of which are tasked with            8. Financial Literacy Program (SME Group)
 evaluating the Bank’s products and services,                  • Mandiri UKM Center (UKMC) is a business
 including providing risk assessments of products and              model targeted to comprehensively work
 services issued by Bank Mandiri.                                  on the business potential of SMEs regulated
                                                                   within a certain radius, particularly in cities
 A complete review of the Business Committee and                   contributing to Indonesia’s GDP (Gross
 the Risk Management & Credit Policy Committee                     Domestic Product).
 is detailed in the Bank Mandiri Annual Report,                • Mandiri UKMC aims to provide a forum for
 Corporate Governance Chapter, the Committee of                    MSME communities to obtain faster and
 the Board of Directors.                                           easier credit financing and improve the
                                                                   competence of MSME communities through
 Bank Mandiri internal regulations govern marketing                literacy mentoring/training, such as tax
 activities, communication, products, and services.                advisory, financial statement education, etc.
 This provision pertains to guidelines and standards
 for communication materials intended for public            Bank Mandiri also conducts various trainings to
 dissemination, with guidance and attention                 improve the ability of employees in providing
 to regulatory regulations, such as POJK No.6/              consumer protection which information is detailed
 POJK.07/2022 concerning Consumer and Public                in the Bank Mandiri Annual Report and Sustainability
 Protection in the Financial Services Sector and            Report, Human Resources Chapter.




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      Moreover, Bank Mandiri has a complaint submission mechanism if customers experience problems in
      transactions, complaints or other complaints. Bank Mandiri established a special work unit, namely Customer
      Care Group to provide the best service. The main task of this unit is to resolve all customer complaints in
      accordance with the Service Level Agreement (SLA) that has been set.




         CUSTOMER COMPLAINTS HANDLING

                                            • Receive                                          • Conduct
              Complaints                      Complaints                                         investigations
              Submissions                   • Complaint                                        • Decision
                                              Input                                              Making


                                          Mass Media,
                                       Telephone, Email,           Complaints                Update on
                                         Social Media,              System               Investigation Results
                                          Branch Mail


              Receive the                   Inform customers                                   Update
              Results of the                of investigation                                   Investigation
              Complaint                     results                                            Results into




      Customers are given easy access to complaint services with various media choices both oral and written, such
      as the following:



                                             Twitter Account                     Livechat Whatsapp

         24 hours via Line



                    14000                     @mandiricare
                                              and @bankmandiri                  0811-8414-000


                   Website                                              Akun Facebook

                                                                        “Mandiri Care” dan
                    by selecting the “Contact us”                       “Bank Mandiri”
                    menu.




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                  An official letter addressed to Bank Mandiri, either delivered
                  directly, or sent by post.


         Email:                                Instagram Account               Bank Mandiri
         mandiricare@bankmandiri.co.id.        @bankmandiri                    throughout Indonesia.




 Bank Mandiri also provides a whistleblowing system called Letter to CEO (LTC) in addition to the mechanism
 mentioned above. LTC is managed by an independent third party with the following objectives:
 1. Be independent and professional.
 2. Minimize the risk of conflict of interest.
 3. Provide a sense of security for the whistleblower.
 4. Increase stakeholder confidence in LTC management.
 5. The whistleblower can monitor the follow-up status of the LTC report submitted.

 Complete information on whistleblowing systems and mechanisms is detailed in this Annual Report -
 Governance Chapter, and Sustainability Report - Customer Service and Satisfaction Chapter.




 Data Privacy and Security

 Bank Mandiri sets priority on maintaining customer data privacy as part of human rights (HAM). We safeguard
 customers’ personal information through technological, process & administrative, organizational and physical
 security steps. We develop code of ethics/business conduct including standards on how employees must
 protect customer confidential information.

 Therefore, since customers open an account in Bank Mandiri Group, customers require to fill and check
 customers’ consent according to the applicable regulations. Customers are also allowed to withdraw
 consumer’s consent at any time. Furthermore, Bank Mandiri requires Non-Disclosure Agreement (NDA) for third
 party if there is cooperation that uses customer data, and only sends customer data according to customer’s
 consent. The bank also ensures that delivery of campaign covering customer’s consent.

 The governance of customer data management has been formed in operational policies, namely Standard
 Data Management Procedures and Operational Technical Guidelines for the provision of internal and external
 data. Further information regarding the privacy policy and data security (including our subsidiaries) can be
 accessed through:




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      Mandiri Group are committed to building and             adopted from the best practice framework. Some
      updating reliable cybersecurity defense trough          of the practices include:
      developing security requirement standards as            1. Customers can add/complete and change
      a reference for each subsidiary based on Bank               (rectify, change, control) personal data through
      Mandiri’s Cybersecurity Framework. Each Subsidiary          branches or call centers.
      will conduct self-assessment and prepare an action      2. The process of masking on sensitive data.
      plan for compliance if there are any gaps with          3. Protection of sensitive data against access
      assistance by CISO Division. Furthermore, the action        by unauthorized parties/persons through the
      plan of each subsidiary is reported to Bank Mandiri’s       application of data classification.
      Management by Board of Directors of Subsidiaries        4. Safeguarding against data leakage through the
      to getting feedback to adapting the cybersecurity           implementation of Data Loss Prevention (DLP)
      defense in Mandiri Group.                                   tool.
                                                              5. Secure file sharing with the implementation of
      In addition, in order to perform the data                   multi-factor authentication (MFA) integrated into
      harmonization process in the Subsidiaries, including        data management technology.
      data privacy and security, Mandiri Subsidiary           6. Periodic Security Awareness to educate
      Management Principle Guideline (MSMPG) has                  employees and customers about the importance
      regulated provisions on data management                     of maintaining the confidentiality and security of
      that can be adopted and harmonized by the                   personal data.
      Subsidiaries. Issues and discussion topics related to   7. Protection of personal data from loss, leakage,
      data management, including data privacy and                 damage through adequate security controls.
      security, are reported and discussed at the board-      8. Data efficiency through the implementation
      level committee, namely the Data Steering Forum.            of backup, switch-over, and disaster recovery
      The Data Steering Forum is held at least once a             training efforts
      year attended by the Director of Risk Management,
      Director of Compliance, Director of Finance and         In order to minimize the misuse of customer data, Bank
      Strategy, and Director of IT.                           Mandiri has launched Livin’ Supper Apps with liveness
                                                              detection and face recognition features so the
      Regarding the management of confidentiality and         customer can make financial transactions through
      security of personal data, Bank Mandiri has acquired    mobile banking. With this feature, customer data is
      and implemented a Data Governance Framework             directly stored in the system without going through a




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CORPORATE               ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL            Financial
GOVERNANCE              & PRACTICES                      RESPONSIBILITY                      Statemens 2024




                                                                                         SOCIAL PILLARS




 physical form. Livin’ customers can change/ rectify         2. Measurement of Incident Handling Maturity
 their personal data, open savings accounts & apply             Level (TMPI) with the result of maturity level
 credit cards, withdraw cash without a card, quick              5 – “Optimize” (highest score). TMPI is a tool to
 pick favorite transactions, instant e-money top                map the level of organizational readiness in
 up, and online shopping payments. Furthermore,                 responding to and recovering cybersecurity
 Bank Mandiri ensure customer rights to rectification           incidents, including in detecting and responding
 and control the personal data can be done in all               if there is an incident of personal data leakage
 branches or via call center 14000.                             due to system security gaps.

 Bank Mandiri conducts periodic audits to perform            The attendance of the Board of Commissioners
 assurance functions on all information security             and Directors directly at regular meetings of the
 activities, including customer protection, data             Risk Monitoring Committee, Audit Committee, and
 privacy, and fraud management, which are                    Integrated Governance Committee demonstrates
 implemented in accordance with internal and                 Bank      Mandiri’s    forthrightness  in  monitoring
 regulatory regulations. The audit is divided into the       information security. The committee meeting
 following activities:                                       agenda includes: quarterly reporting on ESG
                                                             initiatives on topics such as Privacy & Data Security,
 1. Internal Audit                                           Bank Mandiri’s multi-layer defense mechanism, and
    The internal audit process is carried out at least       meeting Mandiri Group’s security criteria.
    once in a year by a special IT Security Audit unit
    under the supervision of the IT Audit Unit (SKAI –       The Security Awareness program is also carried
    Internal Audit Unit).                                    out on a monthly basis to develop knowledge of
 2. External Audit                                           information security in daily behavior, with the goal
    The external audit process is carried out at least       of making it the Bank’s culture. Every year, Bank
    once in two years by reputable international             Mandiri provides security awareness training for
    consultants (external independent parties).              all employees (at all levels in local and overseas
    The external audit process is also carried out to        offices) as well as third parties/contractors. Bank
    comply with regulatory compliance aspects                Mandiri also conducts regular security awareness
    (BI) with the issuance of PBI No. 23/6/PBI/2021          campaign programs through various media,
    concerning Payment Service Providers. In 2023,           including a monthly newsletter, quarterly posters,
    another external audit by reputable international        quarterly podcasts, and a semester phishing drill.
    consultants (external independent parties) with          Data security protection, data confidentiality, latest
    audit coverage covering customer protection,             cyber-attack trends, how to identify and avoid
    information security & data privacy, and fraud           phishing, and online transaction security are some
    management.                                              of the topics covered in the security awareness
                                                             campaign.
 Moreover, an assessment was also carried out by
 an independent external assessor, namely the State          Bank Mandiri also continues to increase customer
 Cyber and Encryption Agency (BSSN) related to:              security awareness by organizing educational
 1. Cyber Security Maturity (CSM) assessment with            programs through various official Bank channels,
    maturity level 5 – “Optimal” (highest score).            such as: website, social media (Instagram,
    CSM assessment is an instrument from BSSN                Facebook, Twitter), and YouTube. Examples of
    to assess the level of cybersecurity maturity            education carried out through www.bankmandiri.
    of an organization, including the assessment             co.id website with Digital Transaction Security
    of management maturity and protection of                 links are educational content to maintain the
    personal data privacy.                                   confidentiality of personal data such as PIN, card
                                                             validity period, 3 CVV numbers on the back of the
                                                             card, card limit, User ID, password, and OTP.




                                                                                              ANNUAL REPORT 2023      985
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            HIGHLIGHTS                REPORTS                            PROFILE                             ANALYSIS




      GOVERNANCE PILLARS




                      Bank Mandiri implements Good Corporate
                     Governance (GCG) based on the principles of
              GCG, TARIF (Transparency, Accountability, Responsibility,
              Independence and Fairness), which has now been
              developed into four pillars of Indonesian corporate
              governance by the National Committee for Governance
              Policy (KNKG), namely: Ethical Behavior, Accountability,
              Transparency and Sustainability.




         GOVERNANCE PILLAR PERFORMANCE


                                       Strengthening ESG Practices
        Most Trusted Company

                                              Establishment of ESG Group as a ‘control tower’ for ESG implementation at Bank

              95.22                           Mandiri


                                              ESG Governance Oversight by the Board of Commissioners and Board of Directors,
                                              supervised directly by the Vice President Director, and reported to the Risk
        Bank Mandiri received                 Management Policy and Committee (RMPC) and Risk Oversight Committee (ROC)
        the title as one of the
        top performers in the
        Corporate Governance &                Privacy Policy on Bank Mandiri products and all Subsidiaries
        Perception Index (CGPI)

                                              Whistleblowing System – Letter to CEO (WBS-LTC) managed by an independent
         *) Previous Rating: 95.01            external party




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CORPORATE               ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                Financial
GOVERNANCE              & PRACTICES                         RESPONSIBILITY                          Statemens 2024




                                                                                          GOVERNANCE PILLARS




     ESG Governance


 Bank       Mandiri      manages         sustainability            Duties and Responsibilities – ESG Unit
 comprehensively, including ESG topics, within the                 • Develop frameworks, commitments, roadmaps
 framework of sustainable financial work to achieve                   and targets related to ESG/Sustainability.
 the vision of sustainability, “Becoming Indonesia’s               • Monitoring Bank Mandiri’s Sustainable Portfolio
 Sustainability Champion for A Better Future.”                        (according to POJK 51/2017 criteria) and
                                                                      reporting Bank Mandiri’s Portfolio in accordance
 To achieve this goal, the company establishes                        with the Indonesian Green Taxonomy.
 governance bodies involved in planning, decision-                 • Encourage the development of Sustainable
 making, monitoring, evaluation, and implementation                   Financial services/products.
 of bank-wide ESG strategies within the following                  • Cascading relevant ESG KPIs across all units.
 structure.                                                        • Ensure ESG disclosure is in line with best practice.
                                                                   • Internalizing ESG awareness to all employees.
 Duties   and     Responsibilities –    Directors   &              • Ensure alignment of ESG aspects into all business
 Commissioners                                                        processes and internal regulations.
 • Monitoring & evaluating the Company’s
    compliance with the Articles of Association,
    Authority regulations, and other laws and
    regulations related to Risk Management.
 • Provide recommendations to the President
    Director regarding the preparation of Risk
    Management         Policies,   Strategies     and
    Implementation Guidelines.




                                     SUSTAINABILITY GOVERNANCE STRUCTURE

                                Board of Commissioners / Related Board of Commissioners Committee




                                Board of Directors / Related Board of Directors Committee



                                ESG Working Group            ESG Coordinator Work Unit

                                                             ESG Contributor Work Unit
                                                             -   Business Unit
                                                             -   Risk Management Unit
                                                             -   Supporting Unit
                                                             -   Regional Offices I-XII




                                                                                                     ANNUAL REPORT 2023     987
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            HIGHLIGHTS                REPORTS                    PROFILE                      ANALYSIS




      GOVERNANCE PILLARS




      Sustainable Finance Management

      The Board of Directors is fully responsible for         Within the framework of implementing sustainable
      determining the Company’s sustainability direction      finance, Bank Mandiri has added a new unit,
      (Framework, Commitment, Strategy, Initiatives,          namely ESG Group, in accordance with SK/
      Roadmap) related to climate change and the              KOM/05.2/2022 dated 18 July 2022 and stated
      achievement of Sustainable Development Goals            in the Decree of the Board of Directors of KEP.
      (SDGs); which is embodied in the Sustainable            DKP/32/2022 dated 12 September 12. ESG Group is
      Finance Action Plan (RAKB) 2024-2028, approved by       responsible for sustainable finance in accordance
      the Board of Commissioners, and submitted to the        with the mandate of POJK-51/2017. ESG Group is a
      regulator in November every year.                       full-time permanent unit that replaces the previous
                                                              sustainable finance task force.
      Each member of the Board of Directors ensures the
      implementation of the RAKB and the management           ESG Group is the control tower of ESG implementation
      of relevant ESG topics in each directorate in           at Bank Mandiri and all subsidiaries. ESG Group is
      accordance with the time frame set out in the RAKB.     led by a Senior Vice President under the authority
      The integration and coordination of ESG topics          of the Company’s Vice President Director. The daily
      management is specifically under the authority of       functions of ESG Group include ESG framework
      the Vice President Director and is carried out by ESG   management, alignment of provisions in line with
      Group with the scope as follows:                        ESG and climate change issues, sustainable portfolio
      1. ESG Framework Management,                            management, responsible operational strategies,
      2. Coordination of provisions consistent with ESG       including communication and reporting functions
         and climate change issues,                           to external and internal parties.
      3. Sustainable portfolio management,
      4. Responsible operational strategy,
      5. Communication and reporting functions to
         external and internal parties.




988   PT Bank Mandiri (Persero) Tbk
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CORPORATE
TATA KELOLA               KOMITMEN
                          ESG COMMITMENTS
                                    &                        TANGGUNG
                                                             SOCIAL ANDJAWAB
                                                                         ENVIRONMENTAL             Financial
                                                                                                   LAPORAN
GOVERNANCE
PERUSAHAAN                &
                          PELAKSANAAN
                            PRACTICES ESG                    SOSIAL DAN LINGKUNGAN
                                                             RESPONSIBILITY                        KEUANGAN2024
                                                                                                   Statemens 2023




                                                                                   GOVERNANCE PILLARS




 ESG Management and Supervision

 The Company ensures that ESG governance                          aspects, in consultation with stakeholders, such as
 performs      effectively    in    accordance       with         shareholders, regulators, the community and other
 stakeholder expectations. ESG governance is                      parties. This consultation can be in the form of face-
 monitored continuously to ensure that matters                    to-face meetings, online meetings, or through reports
 related to sustainability are internalized in the overall        received. The frequency of meetings or reports is
 governance structure of the Company. Bank Mandiri                adjusted to the needs. In its implementation, the
 has also set a goal to manage ESG-related matters                Board of Commissioners and Board of Directors
 effectively in accordance with laws and regulations              delegate the responsibility to manage sustainability
 and pay attention to ESG practices implemented by                impacts to the ESG Unit, which is directly supervised
 banks and global initiatives.                                    by the Vice President Director, and reports to the
                                                                  Risk Management Policy and Committee (RMPC)
 Specifically for climate risk management, the Board              and Risk Monitoring Committee (RMS). Reports from
 of Directors is assisted by the Risk Management                  the ESG Unit are then forwarded to the Board of
 and Policy Committee (RMPC) and in its supervision               Directors regularly as needed and to the Board of
 the Board of Commissioners is assisted by the                    Commissioners with a frequency of at least 4 times
 Risk Monitoring Committee (RMC). Climate risk                    per year.
 monitoring is carried out through board meetings,
 Risk Management and Credit Policy Committee                      Management supervision in the enforcement of the
 (RMPC) and ESG Forum at least six times a year.                  Code of Conduct includes supervision by the Board
 As the highest governance body, the Board of                     of Directors related to the implementation of integrity
 Commissioners and Board of Directors sets the                    and ethics which are part of the Implementation of
 company’s direction through sustainability policies,             the Internal Control System. In supervision, the Board
 strategies, and targets in social, economic, and                 of Directors ensures the growth of a corporate
 environmental topics, including climate change                   culture that upholds ethical values, the integrity of
 issues which are then embodied in Bank Mandiri’s                 each Mandirian, makes management an example
 policies and strategies. The Board of Commissioners              that fosters the involvement of everyone and
 and Board of Directors actively identify and evaluate            makes a culture of risk inherent at every level of the
 the impacts of sustainability and climate change                 organization.




                                                                                                    ANNUAL REPORT 2023      989
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Page 484
    SOCIAL AND
ENVIRONMENTAL
  RESPONSIBILITY




                                  TJSL funds
                                amounting to
                                Rp
                                     174.6
                                        billion

          Bank Mandiri continues to demonstrate its
      commitment to supporting the achievement
     of various Sustainable Development Goals by
 disbursing TJSL funds amounting to Rp174.6 billion.
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            HIGHLIGHTS                REPORTS                      PROFILE                          ANALYSIS




      SOCIAL AND ENVIRONMENTAL
      RESPONSIBILITY COMMITMENTS AND
      POLICIES


                       Bank Mandiri demonstrates its unwavering
                      commitment to conducting sound business
             operations by consistently prioritizing a balance of
             economic, social, and environmental performance through
             the implementation of various social and environmental
             initiatives that are adequately funded. The Company
             has successfully disbursed TJSL funds totaling Rp174.6
             billion in 2023 by conducting various kinds of activities
             that contribute to the achievement of various Sustainable
             Development Goal goals.



      Social and Environmental Responsibility (TJSL)            Bank Mandiri is convinced that by fostering and
      programs are implemented by Bank Mandiri in               fortifying long-term value creation, it will be possible
      order to contribute to the attainment of various          to establish a robust foundation for sustainability. This,
      Sustainable Development Goals. The execution              in turn, will enable the Bank to attain a sustainable
      of TJSL programs serves as a tangible illustration        competitive advantage and fortify its broader
      of Bank Mandiri’s accountability towards all              resilience towards the environment and community.
      stakeholders. By incorporating various development
      initiatives in its TJSL program, Bank Mandiri aims to     The execution of Bank Mandiri TJSL program
      address current requirements while ensuring that the      refers to ISO 26000 through the concept of CSV
      fulfillment of future needs is not reduced, sacrificed,   (Creating Share Value) with the characteristics of
      or compromised. Bank Mandiri’s present approach           sharing benefits and values. This is in line with the
      to business development involves the prioritization       Minister of SOEs No. PER-1/MBU/03/2023. As such,
      of performance alignment in economic, social, and         the implementation of Bank Mandiri TJSL program
      environmental sectors through the implementation          is expected to provide optimal benefits for social
      of TJSL programs.                                         and environmental development, contribute to the
                                                                creation of added value for the Company, and
                                                                foster more resilient and independent businesses for
                                                                community of micro small enterprises.




992   PT Bank Mandiri (Persero) Tbk
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CORPORATE               ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL               Financial
GOVERNANCE              & PRACTICES                      RESPONSIBILITY                         Statemens 2024




                                       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                    COMMITMENTS AND POLICIES




                                          ISO 26000 Standard Principle



        Community Engagement
              & Development       06                                       01       Human Rights




                                                 Organization
                Environment
                              05                 Governance                     02        Manpower Practices




                Consumer Issues
                                  04                                       03       Fair Business Practices




 TJSL LEGAL REFERENCES

 TJSL programs and activities are carried out by             3. Law No. 40 of 2007 concerning Limited Liability
 referring to the Bank’s Mission and in line with               Companies as last amended by Government
 Environmental, Social, and Governance (ESG)                    Regulation in Lieu of Law No. 2 of 2022 concerning
 aspects. The TJSL program is also carried out based            Job Creation;
 on various regulations, including:                          4. Government Regulation No. 47 of 2012
 1. Law No. 7 of 1992 concerning Banking as has                 concerning       Social     and       Environmental
    been amended with Government Regulation                     Responsibility of Limited Liability Companies;
    in Lieu of Law No. 2 of 2022 concerning Job              5. Regulation of the Minister of State-Owned
    Creation.                                                   Enterprises of the Republic of Indonesia No.
 2. Law No. 19 of 2003 concerning State-Owned                   PER-1/MBU/03/2023 dated 3 March 2023
    Enterprises as last amended by Government                   concerning Special Assignments and Social and
    Regulation in Lieu of Law No. 2 of 2022 concerning          Environmental Responsibility Programs for State-
    Job Creation.                                               Owned Enterprises.




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            HIGHLIGHTS                     REPORTS                         PROFILE                                ANALYSIS




      SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
      COMMITMENTS AND POLICIES




      TJSL PRINCIPLES
      Referring to SOE Minister Regulation No. PER-1/MBU/03/2023 on Special Assignments and Social and
      Environmental Responsibility Programs of State-Owned Enterprises, there are four principles to ensure that the
      implementation of the TJSL Program is carried out systematically and comprehensively to achieve performance
      targets according to priorities and work plans. These four principles are:
      1. Integrated, which is based on risk analysis and business processes that links with stakeholders;
      2. Directed, which is having a clear direction to achieve the Bank’s objectives;
      3. Measurable impact, which is having contributions and providing benefits that produce change or added
         value for stakeholders and the Bank.
      4. Accountability, which is accountable, so as to keep away from potential abuse and irregularities.



      TJSL PILLAR

      The strategic initiatives of Bank Mandiri’s TJSL are structured based on four main pillars: social, environmental,
      economic, and legal and governance. These pillars align with Minister of State-Owned Enterprises Regulation
      No. PER-1/MBU/03/2023 concerning Special Assignments and Social and Environmental Responsibility Programs
      of State-Owned Enterprises.



                            01
                                       Environment           For sustainable management of natural resources and the
                                                             environment as a support for all life




                                      02                              To achieve quality economic growth through sustainable
                                                Economy               employment and business opportunities, innovation, inclusive
                                                                      industries, adequate infrastructure, clean energy and
                                                                      supported by partnerships




                                      03                              To realize legal certainty and effective, transparent,
                                                Legal &
                                                                      accountable, and participatory governance to create
                                                Governance
                                                                      security stability and achieve a state based on law




                            04
                                       Social                To achieve the fulfillment of quality human rights in a fair and
                                                             equal manner to improve welfare for all communities




994   PT Bank Mandiri (Persero) Tbk
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CORPORATE                ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL            Financial
GOVERNANCE               & PRACTICES                       RESPONSIBILITY                      Statemens 2024




                                         SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                      COMMITMENTS AND POLICIES




 TJSL PROGRAM STRATEGY
 Bank Mandiri’s TJSL program is expected to improve            benefits Bank Mandiri initiates an assessment to
 community welfare by opening opportunities                    ascertain the capabilities and requirements of the
 for the community to carry out their economic                 local community. The following is the TJSL budget for
 activities. Another expected impact is that people            the 2023 reporting year according to Bank Mandiri’s
 who acquire and use funds will be able to make                TJSL Pillar:
 transactions, thereby stimulating the country’s
 economy. Consequently, in order to optimize                   Bank Mandiri’s CSR Program Target according to
                                                               TJSL Pillars - 2023


                                       Pillar                                                 Target (Rp)

 Social                                                                                                     47,500,000,000
 Economy                                                                                                    68,800,000,000
 Environment                                                                                                22,500,000,000
 Legal & Governance                                                                                         11,200,000,000
 Total                                                                                                 150,000,000,000




 PURPOSE OF TJSL                                               SCOPE OF TJSL BANK MANDIRI

 The objectives of Bank Mandiri’s TJSL Program are:            Bank Mandiri’s TJSL program is carried out with the
 1. Realizing a harmonious relationship between the            target beneficiaries being the community around
    Bank and the community.                                    the Bank’s operational activities and the wider
 2. Helping the growth and development of                      community selectively. During 2023, Bank Mandiri’s
    micro, small and medium enterprises that are               TJSL program activities are focused on 3 (three)
    independent, resilient, and competitive with               main areas, namely Education, Environment and
    professional management.                                   MSE Development.
 3. Developing a pattern of coaching micro, small
    and medium enterprises, by prioritizing aspects
    of equity, independence, professionalism, and
    ethics.
 4. Maintaining      environmental       sustainability,
    and helping to improve the quality of life of
    the community which includes the areas of
    education, health and wellbeing.




                                                                                                ANNUAL REPORT 2023           995
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             MAIN                        MANAGEMENT                            COMPANY                           MANAGEMENT DISCUSSION &
             HIGHLIGHTS                  REPORTS                               PROFILE                           ANALYSIS




      SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
      COMMITMENTS AND POLICIES




      TJSL MANAGEMENT STRUCTURE
      Bank Mandiri’s TJSL program is managed by the Corporate Social Responsibility Department under the
      Corporate Secretary Group. The person in charge of TJSL program is the Director of Institutional Relations.



      TJSL 2023 ACHIEVEMENTS

      As proof of the realization of Bank Mandiri’s commitment in implementing TJSL and achieving the Sustainable
      Development Goals, Bank Mandiri received various awards from third parties during the year, including,
      among others:

      Awards for Bank Mandiri’s TJSL Program, 2023
                                                                Awards
      No.     Date                                                                                              Awards Organization
                                         Award Name                                 Category

                                                                     CSR Program Sub Category Community
         1    March 2023     Bronze Winner PR Indonesia Award 2023                                          PR Indonesia
                                                                     Based Development
                             •   Best CSR on MSME SME Program
                             •   Best Program in Education or
         2    March 2023         Scholarship Category                Indonesia CSR Excellence Award 2023    First Indonesia Magazine
                             •   Best CSR Global Program
                             •   Best CSR Commitment
                                                                     Category of Best Millennial TJSL and
         3    March 2023     BCOMSS 2023                                                                    BCOMSS
                                                                     Community Involvement
                             The Iconomics Indonesia Best CSR
         4    May 2023       Adward 2023 (Indonesia CSR Brand        Indonesia Best CSR Award               The Iconomics
                             Equity Award 2023)
                             TOP AWARD CSR 2023 CSR Innovation
                             Programs for Sustainable Business
                                                                     CSR Innovation Programs for            Top Business - Top CSR Award
         5    June 2023      Growth & TOP CSR AWARDS 2023
                                                                     Sustainable Business Growth            2023
                             #GOLDEN THROPHY TOP ACHIEVEMENT
                             IS AWARDED TO
                                                                                                            Corporate Social
                                                                     Economic Recovery & Health in
         6    May 2023       TSLP Appreciation Award 2023                                                   Environmental Responsibility
                                                                     Yogyakarta City
                                                                                                            Forum (TSLP) Secretariat
                                                                     Innovative Program of Economic
         7    August 2023    Merdeka Awards 2023 Appreciation                                               Merdeka Awards
                                                                     Independence
                                                                     Category of “BEST TJSL 2023 PROGRAM
                             INDONESIA TJSL AWARD 2023 (WARTA        IN DEVELOPING THE ICONOMIC
         8    August 2023                                                                                   Warta Ekonomi.co.id
                             EKONOMI.CO.ID)                          POTENTIAL OF THE COMMUNITY BY
                                                                     FOSTERING MSMEs”
         9    October 2023   Republika CSR Awards 2023               CSR of MSMEs Field                     Republika
              December                                               Category of Economic Development       IDX Channel CSR Awards
        10                   IDX Channel CSR Awards 2023
              2023                                                   Initiatives (Urban Festival)           2023




996   PT Bank Mandiri (Persero) Tbk
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CORPORATE                    ESG COMMITMENTS        SOCIAL AND ENVIRONMENTAL        Financial
GOVERNANCE                   & PRACTICES            RESPONSIBILITY                  Statemens 2024




                                            SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                         COMMITMENTS AND POLICIES




 BANK MANDIRI TJSL PROGRAM
 Here are some of the leading CSR programs run by Bank Mandiri throughout 2023:

 Bank Mandiri’s Featured TJSL Program Highlights - 2023
 Program                                            Priority                            Category


 Wirausaha Muda Mandiri (WMM)                       MSE Development



 Rumah BUMN (RB) Bank Mandiri                       MSE Development



 Mandiri Sahabatku                                  MSE Development



 Mandiri Education                                  Education



 Healthy Homecoming with SOEs                       Others



 Mandiri Entrepreneur Expo                          MSE Development and Education



 MSME Infrastructure Improvement                    MSE Development



 Waste to Energy                                    Environment



 Integrated Rice Processing Center (SPBT)           MSE Development




                                                                                     ANNUAL REPORT 2023   997
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            MAIN                        MANAGEMENT               COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                  PROFILE                         ANALYSIS




      SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
      COMMITMENTS AND POLICIES




      KALEIDOSCOPE OF TJSL PROGRAM 2023

      CSR PROGRAM HIGHLIGHTS 2023

      CSR Documentation for January - December 2023

      The following are highlights of some of the excellent program activities that have been implemented.

       Bank Mandiri supports the Unlimited Papua Health Service Program in Muara Tami District, Jayapura in
       BUMN Service Volunteer Activities
                             Category : Social Community                               SDGs Priorities


                                                                                 Sustainable Cities and Settlements



                                                                                 Good Health & Well-being


                                                                                 Quality Education


                                                                                 No Poverty


       Mandiri Entrepreneur Expo
                            Category : Educational Facilities                          SDGs Priorities

                                                                                 Decent Work and Economic Growth




       Kick Off Wirausaha Muda Mandiri
                            Category : Educational Facilities                          SDGs Priorities

                                                                                 Decent Work and Economic Growth




       WMM Junior 2023
                            Category : Educational Facilities                          SDGs Priorities

                                                                                 Quality Education




998   PT Bank Mandiri (Persero) Tbk
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CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE                & PRACTICES                   RESPONSIBILITY                            Statemens 2024




                                         SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                      COMMITMENTS AND POLICIES




  uRBan Festival 2023
                    Category : MSME Empowerment                                           SDGs Priorities

                                                                                   Decent Work and Economic Growth


                                                                                   Quality Education




  Mandiri Sahabatku in Hongkong
                        Category : Social Community                                       SDGs Priorities

                                                                                   Decent Work and Economic Growth


                                                                                   Reduced Inequalities




  MSME Center Assistance in Religious Tourism Area, Purwakarta
                        Category : Social Community                                       SDGs Priorities

                                                                                   Qualifying and Economic Growth


                                                                                   Industry, Innovation and Infrastructure




  Bank Mandiri Provides Kitchen Equipment, Tools, and Renovation Assistance for Ghara Indonesian
  Children’s Oncology Foundation Jakarta
                  Category : Social Community, Health                                     SDGs Priorities

                                                                                   Good Health and Well-Being




  Bank Mandiri provides Waste Management Education and Hygiene Campaign with the theme Match Day
  Clean Up engaging volunteers and the local community at Glora Tomo Stadium, Surabaya City
                    Category : Educational Facilities                                     SDGs Priorities

                                                                                   Quality Education


                                                                                   Life on Land




                                                                                                   ANNUAL REPORT 2023        999
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            MAIN                      MANAGEMENT                      COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                REPORTS                         PROFILE                           ANALYSIS




       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




        Mandiri Waste Sorting Activities with Volunteers and the surrounding community at Mandiri Jogja Marathon
                            Category : Social Community                                       SDGs Priorities

                                                                                       Climate Action


                                                                                       Life on Land




        Ramadhan Safari assistance provided 133,000 Ramadan Basic Food packages to foundations, institutions
        and communities in need in various regions
                            Category : Social Community                                       SDGs Priorities

                                                                                       No Poverty


                                                                                       Zero Hunger




        Homecoming is awaited, Homecoming at heart
                            Category : Social Community                                       SDGs Priorities

                                                                                       Peace, Justice, & Strong Institutions




        Tambourine Equipment CSR Assistance in Dumai City
                            Category : Social Community                                       SDGs Priorities

                                                                                       Sustainable Cities and Communities




        CSR assistance for greening residential environments by distributing infrastructure assistance for Urban Farming
        activities for the Kenanga Women Farmer Group (KWT), Pela Mampang Village, South Jakarta City
                               Category : Environment                                         SDGs Priorities

                                                                                       Climate Action


                                                                                       Life on Land


                                                                                       Sustainable Cities and Communities


                                                                                       Decent Work & Economic Growth




1000 PT Bank Mandiri (Persero) Tbk
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CORPORATE              ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  Financial
GOVERNANCE             & PRACTICES                      RESPONSIBILITY                            Statemens 2024




                                        SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                     COMMITMENTS AND POLICIES




  Bank Mandiri Builds an Entrepreneurial Ecosystem for Farmers, Builds an Integrated Rice Processing Center
  (SPBT) for Farmers in Jembrana Regency, Bali Province
                     Category : Social Community                                          SDGs Priorities

                                                                                   Decent Work and Economic Growth


                                                                                   No Poverty


                                                                                   Infrastructure, Industry and Innovation


                                                                                   Reduced Inequalities


  Soft Launching Rumah BUMN in Medan and Bogor
                    Category : Educational Facilities                                     SDGs Priorities

                                                                                   Decent Work and Economic Growth




  Assistance of 2,600 Takjil Through 23 Rumah BUMN points to Foundations or orphanages, Correctional
  Institutions (Lapas), and communities in need around Rumah BUMN
                     Category : Social Community                                          SDGs Priorities

                                                                                   No Poverty


                                                                                   Zero Hunger




  Training for MSME Communities at Rumah BUMN
                    Category : MSME Empowerment                                           SDGs Priorities

                                                                                   Decent work and economic growth




  Bazaar and Expo Engaging Rumah BUMN Mentored MSMEs
                    Category : MSME Empowerment                                           SDGs Priorities

                                                                                   Decent Work and Economic Growth




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       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




        Inauguration of Tana Lino Lestari II Program, Construction of TJSL 23 SOE Collaboration Education Facilities
        on Komodo Island, Nusa Tenggara Timur.
                                     Category :                                             SDGs Priorities

                                                                                      Quality Education




        SOE Mart
                            Category : Social Community                                     SDGs Priorities

                                                                                      Decent Work and Economic Growth




        Bank Mandiri’s support to improve MSMEs Palembang specialties in Lorong Roda Village, Palembang City,
        carried out as a series of Palembang City Anniversaries
                            Category : Social Community                                     SDGs Priorities

                                                                                      Decent Work and Economic Growth




        CSR Disaster Response Assistance
                            Category : Social Community                                     SDGs Priorities

                                                                                      Sustainable Cities and Communities


                                                                                      Zero Hunger



                                                                                      No Poverty


        Uninhabitable House (RUTILAHU)
                            Category : Social Community                                     SDGs Priorities

                                                                                      Sustainable Cities and Communities




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                                      SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                   COMMITMENTS AND POLICIES




  Assistance of 103 basic necessities and 25 packages of children’s school bags in Cariu Village,
  Mangunkerta Village, Cugenang Cianjur District, West Java to victims of the Cianjur earthquake
                     Category : Social Community                                      SDGs Priorities

                                                                                Quality Education


                                                                                No Poverty



                                                                                Zero Hunger


  Assistance for Revitalization of Facilities and Infrastructure of the Malalayang Beach MSME Area in Manado
                     Category : Social Community                                      SDGs Priorities

                                                                                Decent Work and Economic Growth




  Green Our Earth
                     Category : Social Community                                      SDGs Priorities

                                                                                Climate Action


                                                                                Life on Land



                                                                                Sustainable Cities and Communities


  BUMN Gotong Royong Boyong Tree (GRBP) Collaboration Program by distributing 10,000 trees to the
  community and employees from September - December 2023
                        Category : Environment                                        SDGs Priorities

                                                                                Climate Action


                                                                                Life on Land




 Bank Mandiri provides School Supplies for Students at the RI-RDTL Border to elementary school students at
 the RI-RDTL border in Belu, Malacca, NTT, distributed in two locations, Motamasin Post Jajaran Kipam III and
 Motaain Post.
                         Category : Education                                         SDGs Priorities

                                                                                Quality Education




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               HIGHLIGHTS                   REPORTS                           PROFILE                           ANALYSIS




       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




       TJSL TARGETS

       Bank Mandiri has set a target of Rp150 billion to support the implementation of TJSL programs in 2023 across
       the social, economic, environmental, and legal and governance pillars. The actual funds disbursed for TJSL
       programs by the end of 2023 was Rp174.6 billion, or a 116.4% increase from the allocated target of Rp150
       billion. This disbursement consisted of Rp74.0 billion or 49.3% of the realization in the social pillar, Rp70.4 billion
       or 46.9% of the realization in the economic pillar, Rp23.3 billion or 31.4% of the realization in the environmental
       pillar, and Rp6.9 billion or 9.8% of the realization in the legal and governance pillar. Below is the details of TJSL
       pillar programs realization by Bank Mandiri in 2023:

       Bank Mandiri’s TJSL Target Realization 2023
                                                                                 Achievement                     2023
       Types of Activities    Support for the Sustainable Development Goals
                                                                               (Total Programs)   Realization           Target


       Social Pillar                                                                 426            Rp74.0 Billion      Rp47.5 Billion



       Pilar Economy                                                                 280            Rp70.4 Billion      Rp68.8 Billion



       Environmental Pillar                                                          232            Rp23.3 Billion      Rp22.5 Billion



       Legal and
                                                                                     23              Rp6.9 Billion      Rp11.2 Billion
       Governance Pillar

       Total                                                                         961          Rp174.6 Billion       IDR150 billion




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GOVERNANCE              & PRACTICES                  RESPONSIBILITY                       Statemens 2024




                                        SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                     COMMITMENTS AND POLICIES




 TJSL PROGRAM PERFORMANCE


    Wirausaha Muda Mandiri (WMM)                           Rumah BUMN (RB) Bank Mandiri

    Wirausaha Muda Mandiri (WMM) is                        Rumah BUMN (RB) is a program aimed at
    Bank Mandiri’s main TJSL program that                  enhancing the capacity and capabilities of
    has been implemented since 2007 and                    MSMEs to create competitive and high-quality
    aims to assist the government in growing               Indonesian MSMEs.
    entrepreneurship in Indonesia, particularly
    among the younger generation. Where                    The objective is to elevate MSMEs to a higher
    entrepreneurship is an important element               level and produce excellent products and
    of a country’s economy and is one of                   packaging designs that can compete both
    the indicators of a country’s economic                 nationally and internationally. Rumah BUMN
    progress.                                              serves several functions, including MSME
                                                           development, provincial-level disaster task
    The primary objective is to foster                     forces, co-working spaces, Millennial base
    a    community      of    aspiring  young              camps, and providing micro loans (KUR/KUM).
    entrepreneurs who continue to synergize
    in Bank Mandiri and government initiatives             Since 2017, Bank Mandiri has been entrusted by
    in order to effectively serve as models for            the Ministry of SOEs to establish Rumah BUMN.
    young individuals in Indonesia who are                 In 2023, Bank Mandiri has established 23 Rumah
    interested in venturing into the world of              BUMN, benefiting a total of 9,702 MSMEs across
    entrepreneurship.                                      various locations, from Kampar Regency (Riau
                                                           Province) to Bintuni (West Papua Province), as
    The WMM Program, with the tagline Dare to              well as in major cities such as Jakarta, Bogor,
    Be Independent, is required to expected to             Medan, Semarang, and Surabaya.
    innovate in order to improve the program’s
    quality to ensure it can play a direct role as         In 2023, Rumah BUMN conducted various
    a bridge connecting measurable creative                activities, including the Rumah BUMN
    ideas that are subsequently used by the                Entrepreneur Week and acceleration activities
    community and environment. In 2023, the                focusing not only on MSMEs but also on Rumah
    number of WMM registration participants                BUMN facilitators through certification training,
    reached approximately 8,291 from both                  coaching, and incubation for MSMEs (uRBan
    Business Plan and Existing Business Plan               Festival).
    participants, and in addition to the WMM
    2023 awarding event, expo activities were              During the uRBan Festival, 15 MSME finalists
    available featuring excellent products                 under the supervision of Rumah BUMN were
    from WMM alumni from various cities                    selected after a curation process. Three winners
    across Indonesia. WMM 2023 is more than                competed for prizes in the form of production
    simply a competition; participants will                equipment assistance to support their
    get a variety of new knowledge while                   businesses. In 2023, impact measurement was
    also expanding their capacity and ability              conducted to assess the benefits perceived
    as strong businessmen, beginning with                  by direct beneficiaries and other stakeholders,
    improved      branding,     communication,             using the Social Return on Investment (SROI)
    and other marketing strategies, as well as             method at Rumah BUMN Cilegon. The SROI
    access to the WMM Alumni Platform.                     value for the Rumah BUMN Program at Rumah
                                                           BUMN Cilegon was measured at 2.4.




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            HIGHLIGHTS                REPORTS                        PROFILE                       ANALYSIS




       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




             Mandiri Sahabatku                                             Mandiri Education

             A series of entrepreneurship training activities              Mandiri Education is an activity that
             for Indonesian Migrant Workers (PMI) that has                 aims to improve teaching skills to
             been carried out since 2011.                                  teachers in schools and provide training
                                                                           to elementary school students for
             The intended target is Indonesian migrant                     Mandiri Education 101.
             workers and it is hoped that upon their return
             to their homeland, they will already have                     The target of Mandiri Education 101
             entrepreneurial provisions, enabling them                     is the development of Character
             to become independent entrepreneurs.                          Education Initial Schools in 32 State
             Entrepreneurship training is provided not only                Elementary Schools (SDN) in Indonesia
             to migrant workers but also to migrant workers’
             families.                                                     The achievement of Mandiri Education
                                                                           is Conducting Character Education
             Training for migrant workers is carried out                   training and mentoring to increase
             offline and online by gathering migrant workers               the capacity of educational human
             from several countries such as: Hong Kong,                    resources and the participation of
             Singapore, Malaysia and UAE. In addition                      parents in improving health-minded
             to offline and online training, the Bapak                     character education in 32 State
             Asuh Program was also held in synergy with                    Elementary Schools (SDN) with 260
             Wirausaha Muda (WMM) alumni and Rumah                         points in Indonesia with a total of 60,000
             BUMN to provide mentoring and ongoing                         students
             training to selected migrant workers and
             families.




          Healthy Homecoming with BUMN


          As a form of social concern, Bank Mandiri carries out joint Homecoming activities for the community
          and employees around the company environment. This free homecoming initiative is also a mandatory
          social activity of Bank Mandiri ahead of Eid al-Fitr which can be directly utilized by the general public.

          The objectives of the implementation of these activities include providing assistance to people who
          plan to return to their hometowns using public transportation modes, especially those related to Bank
          Mandiri, including for customers and internal employees in need and a form of Bank Mandiri’s concern
          for the environment around the company.

          In organizing a healthy homecoming with SOEs on April 16-19, 2023, Bank Mandiri successfully dispatched
          7,000 travelers which was held at the PBNU Office, Cilangkap TNI Headquarters, Gelora Karno with the
          Ministry of SOEs, and the Ministry of Religious Affairs Office.




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                                     SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                  COMMITMENTS AND POLICIES




     Mandiri Entrepreneur Expo
                                                          MSME Infrastructure Improvement

     Mandiri     Entrepreneur   Expo   is   an
     entrepreneurial collaboration activity               A program that aims to expand MSME
     with its participants, including uRBan               market access by building MSME promotion
     Festival Finalists who are MSMEs assisted            places in public areas such as sports
     by Rumah BUMN and Junior Wirausaha                   arenas, cultural heritage or strategic public
     Muda Mandiri (WMM) with participants                 locations.
     being     Elementary    School  Students
     under 3 categories: Urban, Rural and                 The target of this program is local MSMEs
     3T Elementary School Students and                    that have excellent products and are in
     Madrasah Ibtidaiyah.                                 great demand by the community, and
                                                          have an economic impact such as MSMEs
     The target of this Mandiri Entrepreneur              on a labor-intensive basis.
     Expo activity is to improve the spirit of
     Entrepreneur from an early age and is                Achievements have been carried out in
     expected to produce excellent and                    several locations, including the Construction
     quality entrepreneurs.                               of MSME Centers in the East Parking Area
                                                          of Gelora Karno by being able to have
     In this activity, it is hoped that the               an impact on 24 MSMEs, the Construction
     participants can produce excellent and               of MSME Centers in the Cultural Heritage
     quality products. 3 winners of uRBan                 Area of Menara Siger Bakauheni Lampung
     Festival competed for prizes in the form             by being able to have an impact on 33
     of production equipment assistance to                MSMEs, the Construction of MSME Centers
     support their business, namely 1st place             in the Purwakarta Religious Tourism Area
     Dyah Puspita (Mie Sehat Cempaka), 2nd                and Creative Corner in Omah Curasi,
     place Nastarofika (Ulur Wiji), 3rd place             Surabaya.
     Sabrina Naula (Recycling Village) and 3
     WMM Junior winners, namely 1st place
     SDN 2 Citatah West Bandung Regency,
     2nd place SDN Sukaresmi Cianjur
     Regency, 3rd place SDN Koda Permai
     Sumbawa Regency.




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            HIGHLIGHTS               REPORTS                        PROFILE                       ANALYSIS




       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




             Waste to Energy

             The Waste to Energy program is a waste management activity carried out to increase the value of
             utilizing organic Waste to Energy (WTE) by developing a Waste Management Center (SEKOLA) as a
             center for Waste Management development and training in Pancer Small-Village, Sumberagung
             Village, Pasanggaran, Banyuwangi - East Java.

             The target of this program is to socialize the implementation of waste management, particularly in the
             Pancer Small-Village area in Banyuwangi City, Indonesia, to increase the utilization of organic Waste
             to Energy (WTE), as well as Develop community development programs and cooperation with various
             stakeholders in sustainable efforts to handle domestic waste in Sumberagung Village.

             From March 2022 to March 2023, the achievements made by the WTE Program were as follows:
             a. Installation of 1 BSF Unit capable of managing more than 15,700 Kg of Organic Waste
             b. Installation of 10 Biogas capable of managing more than 11,400 Kg of Organic Waste
             c. More than 250,000 Kg of Waste managed with types of Organic, Residual and Inorganic Waste.
             d. More than 235,000 Metric Kg CO2e




             Farmer Entrepreneurship


             Farmer Entrepreneurship is Bank Mandiri’s tangible manifestation in increasing inclusivity and
             welfare of local farmers. The program includes the development of physical infrastructure in the
             form of buildings, the provision of equipment and devices for rice processing, and the provision
             of institutional innovations for farmers and development for farmers, while the area includes the
             Integrated Rice Processing Centers (SPBT) in Pamarican, Kebumen and Jembrana.

             The objective of this SBPT is the establishment of integrated agriculture-based rural community
             economic strength so that it is expected to improve the standard of living of farmers, increase rural
             purchasing power, break supply chains that harm farmers, and reduce poverty in the region.

             In 2023, we measure the impact or benefits received by direct beneficiaries and other relevant
             stakeholders, using the Social Return on Investment (SROI) method. The SROI measurement is
             carried out in the programs: SPBT Pamarican & SPBT Kebumen. The SROI value of the Pamarican
             SPBT program was 3.7 and the SROI value of the Kebumen SPBT program was 3.2.




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                                       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
                                                    COMMITMENTS AND POLICIES




    Bangkit Bersama Mandiri Program

    This TJSL program is engaged in solving community issues, such as social, health, education and
    environmental areas, as well as the construction of public facilities and infrastructure. The goal
    is to provide benefits for the lives and wellbeing of the community. This refers to Bank Mandiri’s
    commitment in realizing social functions, such as natural disaster and non-natural disaster relief,
    education, health improvement, development of public infrastructure, worship facilities, nature
    preservation & social community for poverty alleviation.

    These goals are aligned with the priority goals of the SDGs or Sustainable Development Goals,
    namely the tenth goal or “Reduced Inequalities”.

    The program activities include the following.

    Disaster Response

    Programs that coordinate and focus on disaster emergency response actions in collaboration with
    all relevant stakeholders.

    The target of this program activity is to help accelerate disaster impact management actions for
    the community by meeting the basic needs of affected communities to post-disaster impacts.

    Bank Mandiri takes an active role in disaster response actions that occured throughout 2023, such
    as:
    • Disaster Response in Mulyorejo Village, Tirto, Pekalongan- Central Java
    • Flood and Landslide Disaster Response in Central Tapanuli Regency
    • Earthquake Disaster Response in Jayapura City
    • Flood Disaster Response in Pati Regency
    • Flood Disaster Response in Musi Rawas Regency
    • Flood Disaster Response in Lahat District
    • Landslide Disaster Response on Serasan Island, Natuna Regency
    • Pertamina Pelumpang Depot Fire Disaster Response
    • Flood and Landslide Response in Manado
    • Flash Flood Disaster Response in Lumajang Regency
    • Flood and Landslide Disaster Response in Garut City
    • Flood and Landslide Disaster Response in Jembarana and Karangasem Districts
    • Flood Disaster Response in Kudus
    • Flood Disaster Response in Semarang
    • Flood Disaster Response in Padang
    • Flood and landslide disaster response in North Sumatra
    • Disaster Response to Mount Marapi Eruption in West Sumatra

    In its implementation, Bank Mandiri strives to be aligned with BNPB, SOE ministries and related local
    governments so as to create a positive and optimal impact in every disaster response action.




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              HIGHLIGHTS                REPORTS                     PROFILE                             ANALYSIS




       SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
       COMMITMENTS AND POLICIES




       DISBURSEMENT OF TJSL FUNDS
       In 2023, Bank Mandiri realizes a total TJSL fund disbursement of Rp174.6 billion, of which 100% is allocated to
       support the Non-UMK Funding Program, 10% for the Mandiri Young Entrepreneur program, 1.1% for Rumah
       BUMN, 2.7% for Healthy Homecoming with SOEs, 0.8% for Mandiri Sahabatku. The Bank allocates funds of Rp250
       billion for 2024. The following is Bank Mandiri’s TJSL fund distribution:

       Table of Realization of Bank Mandiri’s TJSL Fund Disbursement, 2021-2023
       Program                                                    2023                2022                     2021

       Mandiri Sahabatku                                            Rp1.4 Billion      Rp500 Million             Rp1.0 Billion

       Wirausaha Muda Mandiri                                      Rp17.5 Billion       Rp8.9 Billion            Rp6.5 Billion

       Rumah BUMN                                                   Rp2.0 Billion       Rp2.6 Billion            Rp3.6 Billion

       Healthy Homecoming with SOEs*)                               Rp4.7 Billion       Rp3.9 Billion                        -

       *) New programs in 2023




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               HIGHLIGHTS                REPORTS                          PROFILE                         ANALYSIS




       Conformity of the Implementation of
       Corporate Governance Towards the
       ASEAN Corporate Governance Scorecard



            Level                              Principles and Recommendations                                   Presentation
         A.            Rights and Equitable Treatment of Shareholders
         A.1           Basic Shareholder Rights
         A.1.1         Does the company pay (interim and final/annual) dividends in an equitable and          411-412
                       timely manner; that is, all shareholders are treated equally and paid within 30 days
                       after being (i) declared for interim dividends and (ii) approved by shareholders
                       at general meetings for final dividends? In case the company has offered Scrip
                       dividend, did the company paid the dividend within 60 days.
         A.2           Right to participate effectively in and vote in general shareholder meetings and       529, 545, 546,
                       should be informed of the rules, including voting procedures, that govern general      549
                       shareholder meetings.
         A.2.1         Do shareholders have the opportunity, evidenced by an agenda item, to approve          529, 545, 546,
                       remuneration (fees, allowances, benefit-in-kind and other emoluments) or any           549
                       increases in remuneration for the non-executive directors/commissioners?
         A.2.2         Does the company provide non-controlling shareholders a right to nominate              529, 545, 546,
                       candidates for board of directors/commissioners?                                       549
         A.2.3         Does the company allow shareholders to elect directors/commissioners                   529, 545, 546,
                       individually?                                                                          549
         A.2.4         Does the company disclose the voting procedures used before the start of               529, 549, 550,
                       meeting?                                                                               551, 552
         A.2.5         Do the minutes of the most recent AGM record that the shareholders were given          549, 550, 551,
                       the opportunity to ask questions and the questions raised by shareholders and          552
                       answers given recorded?
         A.2.6         Does the company disclose the voting results including approving, dissenting, and      551, 552, 553,
                       abstaining votes for all resolutions/each agenda item for the most recent AGM?         554, 555, 556,
                                                                                                              557
         A.2.7         Does the company disclose the list of board members who attended the most              551, 552
                       recent AGM?
         A.2.8         Does the company disclose that all board members and the CEO (if he is not a           551, 552
                       board member) attended the most recent AGM?
         A.2.9         Does the company allow voting in absentia?                                             551, 552, 553,
                                                                                                              554, 555, 556,
                                                                                                              557
         A.2.10        Did the company vote by poll (as opposed to by show of hands) for all resolutions      529
                       at the most recent AGM?
         A.2.11        Does the company disclose that it has appointed an independent party                   550, 551
                       (scrutineers/inspectors) to count and/or validate the votes at the AGM?
         A.2.12        Does the company make publicly available by the next working day the result of         550, 551
                       the votes taken during the most recent AGM/EGM for all resolutions?
         A.2.13        Does the company provide at least 21 days notice for all AGMs and EGMs?                550, 551
         A.2.14        Does the company provide the rationale and explanation for each agenda item            550, 551, 552,
                       which require shareholders’ approval in the notice of AGM/circulars and/or the         553, 554, 555,
                       accompanying statement?                                                                556, 557




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Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




    Level                             Principles and Recommendations                                        Presentation
  A.2.15     Does the company give the opportunity for shareholders to place item/s on the                550, 551, 552,
             agenda of general meetings and/or to request for general meetings subject to a               553, 554, 555,
             certain percentage?                                                                          556, 557
  A.3        Markets for corporate control should be allowed to function in an efficient and
             transparent manner.
  A.3.1      In cases of mergers, acquisitions and/or takeovers requiring shareholders’                   405
             approval, does the board of directors/commissioners of the company appoint an
             independent party to evaluate the fairness of the transaction price?
  A.4        The exercise of ownership rights by all shareholders, including institutional investors,
             should be facilitated.
  A.4.1      Does the company disclose its practices to encourage shareholders to engage                  545 - 547
             with the company beyond general meetings?
  A.5        Shares and voting rights
  A.5.1      Where the company has more than one class of shares, does the company                        545 - 547
             publicise the voting rights attached to each class of shares (e.g. through the
             company website / reports/ the stock exchange/ the regulator’s website)?
  A.6        Notice of AGM
  A.6.1      Does each of the resolutions tabled at the most recent annual general meeting                550, 551, 552,
             deal with only one item, i.e., there is no bundling of several items into the same           553, 554, 555,
             resolution?                                                                                  556, 557
  A.6.2      Are the company’s notice of the most recent AGM/circulars fully translated into              550, 551
             English and published on the same date as the local-language version?
             Does the notice of AGM/circulars have the following details:
  A.6.3      Are the profiles of directors/commissioners (at least age, academic qualification,           550, 551, 552
             date of first appointment, experience, and directorships in other listed companies)
             in seeking election/re-election included?
  A.6.4      Are the auditors seeking appointment/re-appointment clearly identified?                      553, 554, 555,
                                                                                                          566, 583, 597,
                                                                                                          603, 629, 739
                                                                                                          - 742
  A.6.5      Were the proxy documents made easily available?                                              550, 551
  A.7        Insider trading and abusive self-dealing should be prohibited.
  A.7.1      Are the directors / commissioners required to report their dealings in company               175 - 181, 646,
             shares within 3 business days?                                                               659,
  A.8        Related party transactions by directors and key executives.
  A.8.1      Does the company have a policy requiring a committee of independent directors/               416 - 422
             commissioners to review material RPTs to determine whether they are in the best
             interests of the company and shareholders?
  A.8.2      Does the company have a policy requiring board members (directors/                           N/A
             commissioners) to abstain from participating in the board discussion on a particular
             agenda when they are conflicted?
  A.8.3      Does the company have policies on loans to directors and commissioners either                422
             forbidding this practice or ensuring that they are being conducted at arm’s length
             basis and at market rates?




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               HIGHLIGHTS                 REPORTS                             PROFILE                            ANALYSIS




        Conformity of the Implementation of Corporate Governance
        Towards the ASEAN Corporate Governance Scorecard




              Level                              Principles and Recommendations                                        Presentation
         A.9           Protecting minority shareholders from abusive actions
         A.9.1         Does the company disclose that RPTs are conducted in such a way to ensure that                529, 545, 546,
                       they are fair and at arms’ length?                                                            549
         A.9.2         In case of related party transactions requiring shareholders’ approval, is the                416 - 422
                       decision made by disinterested shareholders?
         C.            Sustainability and Resilience
                       Sustainability-related disclosure should be consistent, comparable and reliable,              950 - 986
         C.1           and include retrospective and forward-looking material information that a
                       reasonable investor would consider important in making an investment or voting
                       decision
                       Material Sustainability-related information should be specified
         C.1.1         Does the company identify/report ESG topics that are material to the                          950 - 986
                       organization’s strategy?
         C.1.2         Does the company identify climate change as an issue?                                         950 - 986
         C.1.3         Does the company adopt an internationally recognized reporting framework or                   950 - 986
                       standard for sustainability (i.e. GRI, Integrated Reporting, SASB, IFRS Sustainability
                       Disclosure Standards)?
                       If a company publicly sets a sustainability-related goal or target, the disclosure
                       framework should provide that reliable metrics are regularly disclosed in an easily
                       accessible form
         C.1.4         Does the company disclose quantitative sustainability target?                                 950 – 986
                                                                                                                     & Laporan
                                                                                                                     Keberlanjutan
         C.1.5         Does the company disclose sustainability-related performance progress in                      950 – 986
                       relation to its previously set targets?                                                       & Laporan
                                                                                                                     Keberlanjutan
         C.1.6         Does the company confirm that its Sustainability Report / Reporting is reviewed               950 – 986
                       and /or approved by the Board or Board Committee?                                             & Laporan
                                                                                                                     Keberlanjutan
         C.2           Corporate governance frameworks should allow for dialogue between a company,
                       its shareholders and stakeholders to exchange views on sustainability matters
         C.2.1         Does the company engage internal stakeholders to exchange views and                           Laporan
                       gather feedback on sustainability matters that are material to the business of the            Keberlanjutan
                       company?
         C.2.2         Does the company engage external stakeholders to exchange views and                           Laporan
                       gather feedback on sustainability matters that are material to the business of the            Keberlanjutan
                       company?
                       The corporate governance framework should ensure that boards adequately
                       consider material sustainability risks and opportunities when fulfilling their key
         C.3           functions in reviewing, monitoring and guiding governance practices, disclosure,
                       strategy, risk management and internal control systems, including with respect to
                       climate-related physical and transition risks
                       Boards should assess whether the company’s capital structure is compatible with
                       its strategic goals and its associated risk appetite to ensure it is resilient to different
                       scenarios
         C.3.1         Does the company disclose that the board reviews on an annual basis that the                  400 - 402
                       company’s capital and debt structure is compatible with its strategic goals and
                       its associated risk appetite?




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CORPORATE               ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE              & PRACTICES                      RESPONSIBILITY                              Statemens 2024




Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




    Level                            Principles and Recommendations                                      Presentation
             The corporate governance framework should recognise the rights of stakeholders
  C.4        established by law or through mutual agreements and encourage active co-
             operation between corporations and stakeholders in creating wealth, jobs, and the
             sustainability of financially sound enterprises.
             Does the company disclose a policy and practices that address:
  C.4.1      The existence and scope of the company’s efforts to address customers’ welfare?           Laporan
                                                                                                       Keberlanjutan
  C.4.2      Supplier/contractor selection procedures?                                                 Laporan
                                                                                                       Keberlanjutan
  C.4.3      The company’s efforts to ensure that its value chain is environmentally friendly oris     950 – 986
             consistent with promoting sustainable development?                                        & Laporan
                                                                                                       Keberlanjutan
  C.4.4      The company’s efforts to interact with the communities in which they operate?             950 – 986
                                                                                                       & Laporan
                                                                                                       Keberlanjutan
  C.4.5      The company’s anti-corruption programmes and procedures?                                  780
  C.4.6      How creditors’ rights are safeguarded?                                                    980
  C.4.7      Does the company have a separate report/section that discusses its efforts on             950 – 986
             environment/economy and social issues?                                                    & Laporan
                                                                                                       Keberlanjutan
  C.5        Where stakeholder interests are protected by law, stakeholders should have the
             opportunity to obtain effective redress for violation of their rights.
  C.5.1      Does the company provide contact details via the company’s website or Annual              980 - 983
             Report which stakeholders (e.g. customers, suppliers, general public etc.) can use
             to voice their concerns and/or complaints for possible violation of their rights?
  C.6        Mechanisms for employee participation should be permitted to develop.
  C.6.1      Does the company explicitly disclose the policies and practices on health, safety         950 – 986
             and welfare for its employees?                                                            & Laporan
                                                                                                       Keberlanjutan
  C.6.2      Does the company explicitly disclose the policies and practices on training and           454 - 493
             development programmes for its employees?
  C.6.3      Does the company have a reward/compensation policy that accounts for the                  454 - 493
             performance of the company beyond short-term financial measures?
             Stakeholders including individual employee and their representative bodies, should
  C.7        be able to freely communicate their concerns about illegal or unethical practices
             to the board and their rights should not be compromised for doing this.
  C.7.1      Does the company have a whistle blowing policy which includes procedures for              786 - 788
             complaints by employees and other stakeholders concerning alleged illegal and
             unethical behaviour and provide contact details via the company’s website or
             annual report
  C.7.2      Does the company have a policy or procedures to protect an employee/person                786 - 788
             who reveals alleged illegal/unethical behaviour from retaliation?
  D.         Disclosure and Transparency
  D.1        Transparent ownership structure
  D.1.1      Does the information on shareholdings reveal the identity of beneficial owners,           171 - 181
             holding 5% shareholding or more?
  D.1.2      Does the company disclose the direct and indirect (deemed) shareholdings of               171 - 181
             major and/or substantial shareholders?




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               MAIN                      MANAGEMENT                       COMPANY                         MANAGEMENT DISCUSSION &
               HIGHLIGHTS                REPORTS                          PROFILE                         ANALYSIS




        Conformity of the Implementation of Corporate Governance
        Towards the ASEAN Corporate Governance Scorecard




            Level                              Principles and Recommendations                                   Presentation
         D.1.3         Does the company disclose the direct and indirect (deemed) shareholdings of            130 – 157, 171
                       directors (commissioners)?                                                             - 181
         D.1.4         Does the company disclose the direct and indirect (deemed) shareholdings of            130 – 157, 171
                       senior management?                                                                     - 181
         D.1.5         Does the company disclose details of the parent/holding company, subsidiaries,         184 - 197
                       associates, joint ventures and special purpose enterprises/ vehicles (SPEs)/ (SPVs)?
         D.2           Quality of Annual Report
                       Does the company’s annual report disclose the following items:
         D.2.1         Corporate objectives                                                                   90 - 91
         D.2.2         Financial performance indicators                                                       28 – 42, 256 -
                                                                                                              448
         D.2.3         Non-financial performance indicators                                                   28 – 42, 256 -
                                                                                                              448
         D.2.4         Dividend policy                                                                        411 - 412
         D.2.5         Biographical details (at least age, academic qualifications, date of first             130 - 162
                       appointment, relevant experience, and any other directorships of listed
                       companies) of all directors/commissioners
                       Corporate Governance Confirmation Statement
         D.2.6         Does the Annual Report contain a statement confirming the company’s full               511 - 547
                       compliance with the code of corporate governance and where there is non-
                       compliance, identify and explain reasons for each such issue?
         D.3.          Remuneration of Members of the Board and Key Executives
         D.3.1         Is there disclosure of the fee structure for non-executive                             640 - 647
                       directors/commissioners?
         D.3.2         Does the company publicly disclose [i.e. annual report or other publicly               640 - 647
                       disclosed documents] details of remuneration of each non-executive director/
                       commissioner?
         D.3.3         Does the company disclose its remuneration (fees, allowances, benefit-in-kind          640 - 647
                       and other emoluments) policy/practices (i.e. the use of short term and long term
                       incentives and performance measures) for its executive directors and CEO?
         D.3.4         Does the company publicly disclose [i.e. annual report or other publicly disclosed     640 - 647
                       documents] the details of remuneration of each of the executive directors and
                       CEO [if he/she is not a member of the Board]?
         D.4.          Disclosure of related party transactions (RPT)
         D.4.1         Does the company disclose its policy covering the review and approval of               416 - 421
                       material RPTs?
         D.4.2         Does the company disclose the name, relationship, nature and value for each            416 - 421
                       material RPTs?
         D.5           Directors and commissioners dealings in shares of the company
         D.5.1         Does the company disclose trading in the company’s shares by insiders?                 535, 575, 775,
                                                                                                              785
         D.6           External auditor and Auditor Report
                       Where the same audit firm is engaged for both audit and non-audit services
         D.6.1         Are the audit and non-audit fees disclosed?                                            217, 739 - 742
         D.6.2         Does the non-audit fee exceed the audit fees?                                          217, 739 - 742
         D.7           Medium of communications
                       Does the company use the following modes of communication?




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CORPORATE                 ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                   Financial
GOVERNANCE                & PRACTICES                     RESPONSIBILITY                             Statemens 2024




Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




       Level                           Principles and Recommendations                                    Presentation
  D.7.1        Quarterly reporting                                                                     578 - 580, 660
                                                                                                       - 674
  D.7.2        Company website                                                                         90 – 92, 773
  D.7.3        Analyst’s briefing                                                                      43
  D.7.4        Media briefings /press conferences                                                      773
  D.8          Timely filing/release of annual/financial reports
  D.8.1        Are the audited annual financial report / statement released within 120 days            771
               from the financial year end?
  D.8.2        Is the annual report released within 120 days from the financial year end?              771
  D.8.3        Is the true and fairness/fair representation of the annual financial                    1.055 – 1.066
               statement/reports affirmed by the board of directors/commissioners and/or the
               relevant officers of the company?
  D.9          Company website
               Does the company have a website disclosing up-to-date information on the following:
  D.9.1        Financial statements/reports (latest quarterly)                                         226, & Website
  D.9.2        Materials provided in briefings to analysts and media                                   226, & Website
  D.9.3        Downloadable annual report                                                              226, & Website
  D.9.4        Notice of AGM and/or EGM                                                                226, & Website
  D.9.5        Minutes of AGM and/or EGM                                                               226, & Website
  D.9.6        Company’s constitution (company’s by-laws, memorandum and articles of                   226, & Website
               association)
  D.10         Investor relations
  D.10.1       Does the company disclose the contact details (e.g. telephone, fax, and email) of       729 - 731
               the officer / office responsible for investor relations?
  E.           Responsibilities of the Board
               Clearly defined board responsibilities and corporate governance policy
  E.1.1        Does the company disclose its corporate governance policy / board charter?              564 - 565
  E.1.2        Are the types of decisions requiring board of directors/commissioners’ approval         568
               disclosed ?
  E.1.3        Are the roles and responsibilities of the board of directors/commissioners clearly      565 - 568
               stated ?
               Corporate Vision/Mission
  E.1.4        Does the company have an updated vision and mission statement?                          98 - 103
  E.1.5        Does the board of directors play a leading role in the process of developing and        67 - 85
               reviewing the company’s strategy at least annually?
  E.1.6        Does the board of directors have a process to review, monitor and oversee the           67 - 85
               implementation of the corporate strategy?
  E.2          Board structure
               Code of Ethics or Conduct
  E.2.1        Are the details of the code of ethics or conduct disclosed?                             774 - 779
  E.2.2        Are all directors/commissioners, senior management and employees required to            774 - 779
               comply with the code/s?
  E.2.3        Does the company have a process to implement and monitor compliance with                774 - 779
               the code/s of ethics or conduct?
               Board Structure & Composition
  E.2.4        Do independent directors/commissioners make up at least 50% of the board of             576 - 577
               directors/commissioners?




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               MAIN                     MANAGEMENT                       COMPANY                        MANAGEMENT DISCUSSION &
               HIGHLIGHTS               REPORTS                          PROFILE                        ANALYSIS




        Conformity of the Implementation of Corporate Governance
        Towards the ASEAN Corporate Governance Scorecard




            Level                             Principles and Recommendations                                 Presentation
         E.2.5         Does the company have a term limit of nine years or less or 2 terms of five years1   576 - 577
                       each for its independent directors/ commissioners?
                       1 The five years term must be required by legislation which pre-existed the
                       introduction of the ASEAN Corporate Governance Scorecard in 2011
         E.2.6         Has the company set a limit of five board seats that an individual independent/      573 – 575, 651
                       non-executive director/commissioner may hold simultaneously?                         - 652
         E.2.7         Does the company have any executive directors who serve on more than two             130 - 162
                       boards of listed companies outside of the group?
                       Nomination Committee
         E.2.8         Does the company have a Nominating Committee?                                        604 - 613
         E.2.9         Is the Nominating Committee comprised of a majority of independent directors/        604 - 613
                       commissioners?
         E.2.10        Is the chairman of the Nominating Committee an independent director/                 604 - 613
                       commissioner?
         E.2.11        Does the company disclose the terms of reference/ governance structure/charter       604 - 613
                       of the Nominating Committee?
         E.2.12        Is the meeting attendance of the Nominating Committee disclosed and if so, did       604 - 613
                       the Nominating Committee meet at least twice during the year?
                       Remuneration Committee / Compensation Committee
         E.2.13        Does the company have a Remuneration Committee?                                      604 - 613
         E.2.14        Is the Remuneration Committee comprised entirely of non-executive directors/         604 - 613
                       commissioners with a majority of independent directors/commissioners ?
         E.2.15        Is the chairman of the Remuneration Committee an independent director/               604 - 613
                       commissioner?
         E.2.16        Does the company disclose the terms of reference/ governance structure/              604 - 613
                       charter of the Remuneration Committee?
         E.2.17        Is the meeting attendance of the Remuneration Committee disclosed and, if so,        604 - 613
                       did the Remuneration Committee meet at least twice during the year?
                       Audit Committee
         E.2.18        Does the company have an Audit Committee?                                            594 - 603
         E.2.19        Is the Audit Committee comprised entirely of non-executive directors/                594 - 603
                       commissioners with a majority of independent directors/commissioners?
         E.2.20        Is the chairman of the Audit Committee an independent director/commissioner?         594 - 603
         E.2.21        Does the company disclose the terms of reference/governance structure/charter        594 - 603
                       of the Audit Committee?
         E.2.22        Does at least one of the independent directors/commissioners of the committee        594 - 603
                       have accounting expertise (accounting qualification or experience)?
         E.2.23        Is the meeting attendance of the Audit Committee disclosed and, if so, did the       594 - 603
                       Audit Committee meet at least four times during the year?
         E.2.24        Does the Audit Committee have primary responsibility for recommendation on the       594 - 603
                       appointment, and removal of the external auditor?
         E.3           Board Processes
                       Board meetings and attendance
         E.3.1         Are the board of directors meeting scheduled before the start of financial year?     578 - 581
         E.3.2         Does the board of directors/commissioners meet at least six times during theyear?    578 - 581
         E.3.3         Has each of the directors/commissioners attended at least 75% of all the board       578 - 581
                       meetings held during the year?
         E.3.4         Does the company require a minimum quorum of at least 2/3 for boarddecisions?        578 - 581




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CORPORATE               ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                    Financial
GOVERNANCE              & PRACTICES                       RESPONSIBILITY                              Statemens 2024




Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




    Level                             Principles and Recommendations                                      Presentation
  E.3.5      Did the non-executive directors/commissioners of the company meet separately               578 - 581
             at least once during the year without any executives present?
             Access to information
  E.3.6      Are board papers for board of directors/commissioners meetings provided to the             578 - 581
             board at least five business days in advance of the board meeting?
  E.3.7      Does the company secretary play a significant role in supporting the board in              716 - 728
             discharging its responsibilities?
  E.3.8      Is the company secretary trained in legal, accountancy or company secretarial              716 - 728
             practices and has kept abreast on relevant developments?
             Board Appointments and Re-Election
  E.3.9      Does the company disclose the criteria used in selecting new directors/                    569, 651
             commissioners?
  E.3.10     Did the company describe the process followed in appointing new directors/                 569 – 572, 652
             commissioners?                                                                             - 655
  E.3.11     Are all directors/commissioners subject to re-election every 3 years; or 5 years for       569 – 572, 652
             listed companies in countries whose legislation prescribes a term of 5 years2each?         - 655
             2 The five years term must be required by legislation which pre-existed the
             introduction of the ASEAN Corporate Governance Scorecard in 2011
             Remuneration Matters
  E.3.12     Do the shareholders or the Board of Directors approve the remuneration of the              554
             executive directors and/or the senior executives?
  E.3.13     Does the company have measurable standards to align the performance-based                  588, 676 - 678
             remuneration of the executive directors and senior executives with long-term
             interests of the company, such as claw back provision and deferred bonuses?
             Internal Audit
  E.3.14     Does the company have a separate internal audit function?                                  732 - 738
  E.3.15     Is the head of internal audit identified or, if outsourced, is the name of theexternal     732 - 738
             firm disclosed?
  E.3.16     Does the appointment and removal of the internal auditor require the approvalof            732 - 738
             the Audit Committee?
             Risk Oversight
  E.3.17     Does the company establish a sound internal control procedures/risk management             804 - 849
             framework and periodically review the effectiveness of that framework?
  E.3.18     Does the Annual Report/Annual CG Report disclose that the board of directors/              804 - 849
             commissioners has conducted a review of the company’s material controls
             (including operational, financial and compliance controls) and risk management
             systems?
  E.3.19     Does the company disclose the key risks to which the company is materially                 804 - 849
             exposed to (i.e. financial, operational including IT, environmental, social,
             economic)?
  E.3.20     Does the Annual Report/Annual CG Report contain a statement from the board                 743 – 748, 811
             of directors/commissioners or Audit Committee commenting on the adequacy of
             the company’s internal controls/risk management systems?
  E.4        People on the Board
             Board Chairman
  E.4.1      Do different persons assume the roles of chairman and CEO?                                 130 - 157
  E.4.2      Is the chairman an independent director/commissioner?                                      130
  E.4.3      Is any of the directors a former CEO of the company in the past 2 years?                   130 - 157




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               MAIN                     MANAGEMENT                      COMPANY                        MANAGEMENT DISCUSSION &
               HIGHLIGHTS               REPORTS                         PROFILE                        ANALYSIS




        Conformity of the Implementation of Corporate Governance
        Towards the ASEAN Corporate Governance Scorecard




            Level                             Principles and Recommendations                                Presentation
         E.4.4         Are the roles and responsibilities of the chairman disclosed?                       130, 564 - 567
                       Lead Independent Director
         E.4.5         If the Chairman is not independent, has the Board appointed a Lead/Senior           130
                       Independent Director and has his/her role been defined?
                       Skills and Competencies
         E.4.6         Does at least one non-executive director/commissioner have prior working            130 - 157
                       experience in the major sector that the company is operating in?
         E.5           Board Performance
                       Directors Development
         E.5.1         Does the company have orientation programmes for new                                130 – 157, 578,
                       directors/commissioners?                                                            655 - 656
         E.5.2         Does the company have a policy and actual practice and programs that                130 – 157, 578,
                       encourages directors/commissioners to attend on-going or continuousprofessional     655 - 656
                       education programmes?
                       CEO/Executive Management Appointments and Performance
         E.5.3         Does the company disclose the process on how the board of                           169, 470-471,
                       directors/commissioners plans for the succession of the CEO/Managing Director/      532, 611-613,
                       President and key management?                                                       972
         E.5.4         Does the board of directors/commissioners conduct an annual performance             486-487, 588,
                       assessment of the CEO/Managing Director/President?                                  676-677
                       Board Appraisal
         E.5.5         Did the company conduct an annual performance assessment of the board of            588, 676-677
                       directors/commissioners and disclose the criteria and process followed for the
                       assessment?
                       Director Appraisal
         E.5.6         Did the company conduct an annual performance assessment of the individual          588, 676-677
                       directors/commissioners and disclose the criteria and process followed for the
                       assessment?
                       Committee Appraisal
         E.5.7         Did the company conduct an annual performance assessment of the board               588 - 589
                       committees and disclose the criteria and process followed for the assessment?
                       Bonus
         (B)A.         Rights of shareholders
         (B)A.1        Right to participate effectively in and vote in general shareholders meeting and
                       should be informed of the rules, including voting procedures, that govern general
                       shareholders meeting.
         (B)A.1.1      Does the company practice real time secure electronic voting in absentia at         548 - 551
                       general meetings of shareholders?
         (B)B.         Equitable treatment of shareholders
         (B)B.1        Notice of AGM
         (B)B.1.1      Does the company release its notice of AGM (with detailed agendas and               550 - 551
                       explanatory circulars), as announced to the Exchange, at least 28 days before
                       the date of the meeting?
         (B)C.         Sustainability and Resilience
         (B)C.1
         (B).C.1.1     Does the company disclose how it manages climate-related risks and                  830-833, 959-
                       opportunities?                                                                      960




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CORPORATE                ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                   Financial
GOVERNANCE               & PRACTICES                     RESPONSIBILITY                             Statemens 2024




Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




    Level                             Principles and Recommendations                                    Presentation
  (B).C.1.2   Does the company disclose that its Sustainability Report / Sustainability Reporting     Laporan
              is externally assured?                                                                  Keberlanjutan
  (B).C.1.3   Does the company disclose the engagement channel with stakeholder groups                950 – 986
              and how the company responds to stakeholders’ ESG concerns?                             & Laporan
                                                                                                      Keberlanjutan
  (B).C.1.4   Does the company have a unit / division / committee who is specificallyresponsible      830-833, 950 –
              to manage the sustainability matters?                                                   986 & Laporan
                                                                                                      Keberlanjutan
  (B).C.1.5   Does the company disclose board of directors/commissioners’ oversight of                830-833, 950 –
              sustainability-related risks and opportunities?                                         986 & Laporan
                                                                                                      Keberlanjutan
  (B).C.1.6   Does the company disclose the linkage between executive directors and senior            640 - 647
              management remuneration and sustainability performance for the previous year?
  (B).C.1.7   Is the company’s Whistle Blowing System managed by independent parties /                786 - 788
              institutions?
  (B)D.       Disclosure and transparency
  (B)D.1      Quality of Annual Report
  (B)D.1.1    Are the audited annual financial report /statement released within 60 days from         1.055 – 1.060
              the financial year end?
  (B)E.       Responsibilities of the Board
  (B)E.1      Board Competencies and Diversity
  (B)E.1.1    Does the company have at least one female independent                                   130 - 166
              director/commissioner?
  (B)E.1.2    Does the company have a policy and disclose measurable objectives for                   636 - 639
              implementing its board diversity and report on progress in achieving its
              objectives?
  (B)E.2      Board Structure
  (B)E.2.1    Is the Nominating Committee comprise entirely of independent directors/                 604 - 613
              commissioners?
  (B)E.2.2    Does the Nominating Committee undertake the process of identifying the quality          604 - 613
              of directors aligned with the company’s strategic directions?
  (B)E.3      Board Appointments and Re-Election
  (B)E.3.1    Does the company use professional search firms or other external sources of             169, 470-471,
              candidates (such as director databases set up by director or shareholder bodies)        532, 611-613,
              when searching for candidates to the board of directors/commissioners?                  972
  (B)E.4      Board Structure & Composition
  (B)E.4.1    Do independent non-executive directors/commissioners make up more than                  576 - 577
              50% of the board of directors/commissioners for a company with independent
              chairman?
  (B)E.5      Risk Oversight
  (B)E.5.1    Does the company disclose that its Board identified key risk in relation to             499
              information technology including disruption, cyber security, and disaster
              recovery, to ensure that such risks are managed and integrated into the overall
              risk management framework?
  (B)E.6      Board Performance
  (B)E.6.1    Does the company have a separate board level Risk Committee?                            614 - 621
              Pinalty
  (P)A.       Rights of shareholders




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            MAIN                       MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                         ANALYSIS




        Conformity of the Implementation of Corporate Governance
        Towards the ASEAN Corporate Governance Scorecard




            Level                            Principles and Recommendations                                   Presentation
         (P)A.1      Basic shareholder rights
         (P)A.1.1    Did the company fail or neglect to offer equal treatment for share repurchases to       545 - 550
                     all shareholders?
         (P)A.2      Shareholders, including institutional shareholders, should be allowed to consult        545 - 550
                     with each other on issues concerning their basic shareholder rights as defined inthe
                     Principles, subject to exceptions to prevent abuse.
         (P)A.2.1    Is there evidence of barriers that prevent shareholders from communicating or           545 - 550
                     consulting with other shareholders?
         (P)A.3      Right to participate effectively in and vote in general shareholders meeting and        545 - 550
                     should be informed of the rules, including voting procedures, that govern general
                     shareholders meeting.
         (P)A.3.1    Did the company include any additional and unannounced agenda item into                 N/A
                     the notice of AGM/EGM?
         (P)A.3.2    Was the Chairman of the Board and the Chairmen of all Board Committees and              550 - 552
                     the CEO absent from the most recent General Meeting?
         (P)A.4      Capital structures and arrangements that enable certain shareholders to obtain a        400 - 402
                     degree of control disproportionate to their equity ownership should be disclosed.
                     Did the company fail to disclose the existence of:
         (P)A.4.1    Shareholders agreement?                                                                 545 - 550
         (P)A.4.2    Voting cap?                                                                             545 - 550
         (P)A.4.3    Multiple voting rights?                                                                 545 - 550
         (P)A.5      Capital structures and arrangements that enable certain shareholders to obtain a        400 - 402
                     degree of control disproportionate to their equity ownership should be disclosed.
         (P)A.5.1    Is a pyramid ownership structure and/ or cross holding structure apparent?              400 – 402, 545
                                                                                                             - 550
         (P)B.       Equitable treatment of shareholders
         (P)B.1      Insider trading and abusive self-dealing should be prohibited.                          535, 785
         (P)B.1.1    Has there been any conviction of insider trading involving                              N/A-785
                     directors/commissioners, management and employees in the past three years?
         (P)B.2      Protecting minority shareholders from abusive action                                    400 – 402, 545
                                                                                                             - 550
         (P)B.2.1    Has there been any cases of non compliance with the laws, rules and regulations         765-772
                     pertaining to material related party transactions in the past three years?
         (P)B.2.2    Were there any RPTs that can be classified as financial assistance (i.e not conducted   N/A
                     at arms length) to entities other than wholly-owned subsidiary companies?
         (P)C.       Role of stakeholders
         (P)C.1      The rights of stakeholders that are established by law or through mutualagreements
                     are to be respected.
         (P)C.1.1    Have there been any violations of any laws pertaining to labour/employment/             N/A-765-772
                     consumer/insolvency/ commercial/competition or environmental issues?
                     Where stakeholders participate in the corporate governance process, they should         773
         (P)C.2      have access to relevant, sufficient and reliable information on a timely and regular
                     basis.
         (P)C.2.1    Has the company faced any sanctions by regulators for failure to make                   N/A-765-772
                     announcements within the requisite time period for material events?
         (P).C.2.2   Is there any evidence that the company is engaging in greenwashing activities?          N/A-765-772
         (P)D.       Disclosure and transparency
         (P)D.1      Sanctions from regulator on financial reports                                           N/A-765-772




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GOVERNANCE               & PRACTICES                        RESPONSIBILITY                                 Statemens 2024




Conformity of the Implementation of Corporate Governance
     Towards the ASEAN Corporate Governance Scorecard




    Level                              Principles and Recommendations                                          Presentation
  (P)D.1.1   Did the company receive a “qualified opinion” in its external audit report?                     1.055 – 1.065
  (P)D.1.2   Did the company receive an “adverse opinion” in its external audit report?                      1.055 – 1.065
  (P)D.1.3   Did the company receive a “disclaimer opinion” in its external audit report?                    1.055 – 1.065
  (P)D.1.4   Has the company in the past year revised its financial statements for reasonsother              1.055 – 1.065
             than changes in accounting policies?
  (P)E.      Responsibilities of the Board
  (P)E.1     Compliance with listing rules, regulations and applicable laws
  (P)E.1.1   Is there any evidence that the company has not complied with any listing rules                  1.055 – 1.065
             and regulations apart from disclosure rules over the past year?
  (P)E.1.2   Have there been any instances where non-executive directors/commissioner                        N/A
             have resigned and raised any issues of governance-related concerns?
  (P)E.2     Board structure
  (P)E.2.1   Does the Company have any independent directors/commissioners who have                          130-157, 563-
             served for more than nine years or two terms of five years each (which ever is                  564, 638, 648-
             higher) in the same capacity?                                                                   649
             1 The five years term must be required by legislation which pre-existed before the
             introduction of the ASEAN Corporate Governance Scorecard in 2011
  (P)E.2.2   Did the company fail to correctly identify the description of all their directors as            130-157, 563-
             independent, non-executive, and executive?                                                      564, 638, 648-
                                                                                                             649
  (P)E.2.3   Does the company have any independent directors/non- executive/                                 130-157, 563-
             commissioners who serve on a total of more than five boards of publicly-listed                  564, 638, 648-
             companies?                                                                                      649
  (P)E.3     External Audit
  (P)E.3.1   Is any of the directors or senior management a former employee or partner of the                130-157, 563-
             current external auditor (in the past 2 years)?                                                 564, 638, 648-
                                                                                                             649
  (P)E.4     Board structure and composition
  (P)E.4.1   Has the chairman been the company CEO in the last three years?                                  130-157, 563-
                                                                                                             564, 638, 648-
                                                                                                             649
  (P)E.4.2   Do non-executive directors/commissioners receive options, performance shares                    554, 587-588,
             or bonuses?                                                                                     677-678
             APPENDIX
             Do shareholders have the right to participate in:
  A.2.1      Amendments to the company’s constitution?                                                       545 - 550
  A.2.2      The authorisation of additional shares?                                                         545 - 550
  A.2.3      The transfer of all or substantially all assets, which in effect results in the sale of the     N/A
             company?
  B.1.1      Does the company’s ordinary or common shares have one vote for one share?                       545 - 550
  B.3.1      Does the company have policies and/or rules prohibiting directors/commissioners                 554, 587-588,
             and employees to benefit from knowledge which is not generally available to the                 677-678
             market?
  B.4.1      Does the company have a policy requiring directors /commissioners to disclose                   416-421
             their interest in transactions and any other conflicts of interest?
  D.2.6      Attendance details of each director/commissioner in all directors/commissoners                  578-581, 660-
             meetings held during the year                                                                   674




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             HIGHLIGHTS                  REPORTS                                PROFILE                          ANALYSIS




       OJK Reference Index



                          Criteria                                          Explanation                                 Page
          General
          The      annual  report   should
          be presented in good and
          correct Indonesian, and it was
          recommended to present it also in
          English.
          The annual report should be printed
          in good quality and uses an easy-
          to-read type and size.
          The annual report clearly stated The company name and year of the annual report should be
          the company’s identity.          displayed on:
                                                1. Face cover;
                                                2. Side;
                                                3. Back cover; and
                                                4. Every page.
          The annual report should be
          available on the company website.
          Performance Highlights
          The      summary      of    important Information in the annual reports includes the following:                 30
          financial data contained financial
          information presented in the form of
          a comparison for 3 (three) financial
          years or since starting its business if
          the Issuer or Public Company had
          been running its business activities
          for less than 3 (three) years.
                                                1. Revenue/sales;                                                       26-31
                                                2. Gross profit;                                                        26-31
                                                3. Profit (loss);                                                       26-31
                                                4. Total profit (loss) attributable to owners of the parent entity      26-31
                                                and non-controlling interests;
                                                5. Total comprehensive profit (loss);                                   26-31
                                                6. Total comprehensive profit (loss) attributable to owners of          26-31
                                                the parent entity and non-controlling interests;
                                                7. Earnings (loss) per share;                                           26-31
                                                8. Total assets;                                                        26-31
                                                9. Total liabilities;                                                   26-31
                                                10. Total equity;                                                       26-31
                                                11. Ratio of profit (loss) to total assets;                             26-31
                                                12. Ratio of profit (loss) to equity;                                   26-31
                                                13. Ratio of profit (loss) to income/sales;                             26-31
                                                14. Current ratio;                                                      26-31
                                                15. Ratio of liabilities to equity;                                     26-31
                                                16. Ratio of liabilities to total assets;                               26-31
                                                17. CAR ratio;                                                          26-31
                                                18. Ratio of Return on Assets (ROA);                                    26-31
                                                19. Ratio of Return on Equity (ROE);                                    26-31
                                                20. Productive Assets;                                                  26-31
                                                21. Ratio of Non-performing Loans (NPL);                                26-31


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GOVERNANCE                  & PRACTICES                      RESPONSIBILITY                                  Statemens 2024




                                                                                       OJK Reference Index




               Criteria                                          Explanation                                        Page
                                       22. Ratio of Operating Expenses to Operating Income                          26-31
                                       (BOPO);
                                       23. Cost to Income Ratio (CIR);                                              26-31
                                       24. Net Interest Margin Ratio (NIM);                                         26-31
                                       25. Percentage of violations and exceeding the Maximum                       26-31
                                       Lending Limit (BMPK);
                                       26. Statutory Reserves Ratio (GWM);                                          26-31
                                       27. Ratio of Net Open Position (GDP); and                                    26-31
                                       28. Information and other financial ratios relevant to the                   26-31
                                       issuer or public company and the type of industry.
  Stock Price Information              Share information for a Public Company should at least
                                       contain:
                                       1. Shares issued for each quarterly period were presented in                 34-39
                                       the form of a comparison for the last 2 (two) financial years,
                                       at least containing:
                                       a. Number of outstanding shares;
                                       b. Market capitalization based on the price on the stock
                                       exchange where the shares were listed;
                                       c. The highest, lowest and closing share prices were based
                                       on prices on the stock exchange where the shares are listed;
                                       and
                                       d. Trading volume on the stock exchange where the shares
                                       are listed.
                                       Information in letter b), letter c) and letter d) is only disclosed
                                       if the shares are listed on the stock exchange;
                                       2. In the event of a corporate action causing changes in                      40
                                       shares, such as stock splits, reverse stock, stock
                                       dividends, bonus shares, changes in the nominal value of
                                       shares, issuance of conversion securities, as well as capital
                                       additions and deductions, stock information as
                                       referred to in number 1) should be added with at least an
                                       explanation regarding:
                                       a. The date of implementation of the corporate action;
                                       b. The ratio of stock splits, reverse stock, stock dividends,
                                       bonus shares, the number of convertible securities issued,
                                       and changes in the nominal value of shares;
                                       c. Number of outstanding shares before and after the
                                       corporate action;
                                       d. Number of conversion effects executed (if any); and
                                       e. Share prices before and after corporate actions;
                                       3. In the event of a temporary suspension of share trading                    40
                                       (suspension) and/or delisting of shares in the financial year,
                                       the should be explained; and
                                       4. In the event that the temporary suspension of share trading                40
                                       as referred to in number 3) and/or the delisting process
                                       was still ongoing until the end of the Annual Report period,
                                       it explained the actions taken to resolve the temporary
                                       suspension of share trading and/ or cancellation of the share
                                       listing (delisting).




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            MAIN                         MANAGEMENT                       COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                          PROFILE                             ANALYSIS




        OJK Reference Index



                         Criteria                                      Explanation                                   Page
         Information on bonds, sukuk or Information contained:
         convertible bonds that were still
         outstanding in the last 2 (two)
         financial years. Reports of the
         Board of Directors and the Board of
         Commissioners
                                             1. Number of outstanding bonds/sukuk/convertible bonds;                  41
                                             2. Interest rate/yield;
                                             3. Due date; and
                                             4. Bond/sukuk ratings for 2020 and 2021.
                                             Note: if the company did not have bonds/sukuk/convertible
                                             bonds, it had to be disclosed.
         Reports of the Board of Directors
         and the Board of Commissioners
         Board of Commissioners Report       The report of the Board of Commissioners should at least
                                             contain a brief description about:
                                             1. Assessment of the performance of the Board of Directors              52-64
                                             regarding the management of Issuers or Public Companies,
                                             including the supervision of the Board of Commissioners in
                                             the formulation and implementation of strategies for Issuers
                                             or Public Companies carried out by the Board of Directors;
                                             2. Views on the business prospects of the Issuer or Public              57-58
                                             Company prepared by the Board of Directors; and
                                             3. Views on the implementation of the governance of the                 58-60
                                             Issuer or Public Company.
                                             4. Changes in the composition of the Board of Commissioners              63
                                             (if any) and the reasons for the changes.
         Board of Directors’ Report          The Board of Directors’ report should at least contain a brief
                                             description of:
                                             1. Performance of Issuers or Public Companies, at least                 69-83
                                             containing:




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GOVERNANCE              & PRACTICES                      RESPONSIBILITY                               Statemens 2024




                                                                                  OJK Reference Index



             Criteria                                        Explanation                                     Page
                                   a. Issuer’s or Public Company’s strategy and strategic                    69-83
                                   policies;
                                   b. The role of the Board of Directors in formulating strategies
                                   and strategic policies of Issuers or Public Companies;
                                   c. The process carried out by the Board of Directors to ensure
                                   the implementation of the Issuer’s or Public Company’s
                                   strategy;
                                   d. Comparison between the results achieved with those
                                   targeted by the Issuer or Public Company; and
                                   e. Constraints faced by Issuers or Public Companies;
                                   f. Organizational structure;
                                   g. Main activity;
                                   h. Information Technology;
                                   i. Types of products and services offered, including lending
                                      to micro, small and medium business debtors;
                                   j. Interest rates for raising and providing funds
                                   k. Economic development and target market;
                                   l. Network and business partners at home and/or abroad;
                                   m. Number, type and location of offices;
                                   n. Ownership of the Board of Directors, Board of Commissioners
                                   and shareholders in the Bank’s business group;
                                   o. Important changes that occurred in the Bank and the
                                   Bank’s business group in the relevant year;
                                   p. Important things that are expected to happen in the
                                   future; and
                                   q. Human resources include the number, level of education,
                                   training, and human resource development.
                                   2. Description of the business prospects of the Issuer or Public          69-83
                                   Company; and
                                   3. Implementation of the governance of Issuers or Public                  77-78
                                   Companies.

                                   4. Changes in the composition of the members of the Board                  80
                                   of Directors (if any) and the reasons for the changes.
  Signatures of members of the It described:
  Board of Directors and Board of
  Commissioners
                                   1. Tanda tangan dituangkan pada lembaran tersendiri;                      86-87
                                   2. Pernyataan bahwa Dewan Komisaris dan Direksi
                                   bertanggung jawab penuh atas kebenaran isi laporan
                                   tahunan;


                                   3. Ditandatangani seluruh anggota Dewan Komisaris
                                   dan anggota Direksi dengan menyebutkan nama dan
                                   jabatannya; dan
                                   4. Penjelasan tertulis dalam surat tersendiri dari yang
                                   bersangkutan dalam hal terdapat anggota Dewan Komisaris
                                   atau anggota Direksi yang tidak menandatangani laporan
                                   tahunan, atau penjelasan tertulis dalam surat tersendiri dari
                                   anggota yang lain dalam hal tidak terdapat penjelasan
                                   tertulis dari yang bersangkutan.




                                                                                                       ANNUAL REPORT 2023   1027
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             MAIN                           MANAGEMENT                         COMPANY                             MANAGEMENT DISCUSSION &
             HIGHLIGHTS                     REPORTS                            PROFILE                             ANALYSIS




        OJK Reference Index




                           Criteria                                        Explanation                                    Page
         Profil Perusahaan
         Company name and full address           Access to Issuers or Public Companies including branch                   90-91
                                                 offices or representative offices that allowed the public
                                                 to obtain information about Issuers or Public Companies,
                                                 including:
                                                 1. Address;
                                                 2. Telephone number;
                                                 3. Electronic mail address; and
                                                 4. Website address;
         Brief history of the Issuer or Public It included: date/year of establishment, name, change of                   94-95
         Company                               company name (if any), and effective date of change of
                                               company name.
                                                 Note: if the company had never changed its name, it should
                                                 be disclosed.
         Business fields                         It described:                                                             104

                                                 1. The company’s business activities according to the latest
                                                 articles of association;
                                                 2. Business activities carried out; and
                                                 3. Products and/or services produced.
         Vision, Mission       and    Corporate It included:
         Culture
                                                 1. Company vision;                                                      100-102
                                                 2. Company mission;
                                                 3. Information that the vision and mission had been
                                                 reviewed and approved by the Board of Directors/Board of
                                                 Commissioners for the financial year; and
                                                 4. A statement regarding the corporate culture of the
                                                 Company.
         Operational Area                        Operational area of Issuer or Public Company; operational                 126
                                                 area was the area or area for the implementation of
                                                 operational activities or the range of the company’s
                                                 operational activities.
         Organizational structure                The organizational structure of the Issuer or Public Company              128
                                                 in the form of a chart, at least up to the structure of 1 (one)
                                                 level below the Board of Directors including committees
                                                 under the Board of Directors (if any) and committees under
                                                 the Board of Commissioners, accompanied by names and
                                                 positions.
         Association Member                      List of industry association memberships both on a national               92
                                                 and international scale related to the implementation of
                                                 sustainable finance.
         Board of Commissioners Profile          Profile of the Board of Commissioners, at least contained:
                                                 1. Name and position;                                                   130-142
                                                 2. Recent photos;
                                                 3. Age;
                                                 4. Citizenship;
                                                 5. Educational history and/or certification;
                                                 6. Position history, including information on:
                                                 a. Legal basis for appointment as member of the Board of
                                                 Commissioners;


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CORPORATE                      ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                   Financial
GOVERNANCE                     & PRACTICES                      RESPONSIBILITY                             Statemens 2024




                                                                                           OJK Reference Index




                Criteria                                            Explanation                                   Page
                                          b. The legal basis for the first appointment as a member               130-142
                                          of the Board of Commissioners who was an independent
                                          commissioner of the Issuer or Public Company concerned;
                                          c. Concurrent positions, either as a member of the Board
                                          of Commissioners, member of the Board of Directors, and/
                                          or committee member as well as other positions both inside
                                          and outside the Issuer or Public Company. In the event that
                                          a member of the Board of Commissioners did not have
                                          concurrent positions, then this should be disclosed;
                                          d. Work experience and period of time both inside and
                                          outside the Issuer or Public Company;
                                          7. Affiliation with other members of the Board of
                                          Commissioners, major shareholders, and controllers, either
                                          directly or indirectly, to individual owners, including names
                                          of affiliated parties; In the event that a member of the Board
                                          of Commissioners had no affiliation, the Issuer or Public
                                          Company should disclose this matter;
                                          8. Statement of independence of the independent
                                          commissioner in the event that the independent
                                          commissioner had served more than 2 (two) terms; and
                                          9. Changes in the composition of the members of the Board
                                          of Commissioners and the reasons for the changes. In the
                                          event that there was no change in the composition of the
                                          members of the Board of Commissioners, this matter should
                                          be disclosed;
  Board of Directors Profile              Profile of the Board of Directors, at least contained:
                                          1. Name and position in accordance with the duties and                 143-157
                                          responsibilities;
                                          2. Recent photos;
                                          3. Age;
                                          4. Citizenship;
                                          5. Educational history and/or certification;
                                          6. Position history, including information on:
                                          a. The legal basis for appointment as a member of the Board
                                          of Directors of the Issuer or Public Company concerned;
                                          b. Concurrent positions, either as a member of the Board
                                          of Directors, member of the Board of Commissioners, and/
                                          or committee member as well as other positions both inside
                                          and outside the Issuer or Public Company. In the event that a
                                          member of the Board of Directors does not have concurrent
                                          positions, then this was disclosed; and
                                          c. Work experience and period of time both inside and
                                          outside the Issuer or Public Company;
                                          7. Affiliation with other members of the Board of Directors,
                                          members of the Board of Commissioners, major shareholders,
                                          and controllers either directly or indirectly to individual
                                          owners, including names of affiliated parties.
                                          In the event that a member of the Board of Directors had no
                                          affiliation, the Issuer or Public Company should disclose this
                                          matter; and
                                          8. Changes in the composition of the members of the Board
                                          of Directors and the reasons for the changes. In the event
                                          that there was no change in the composition of the members
                                          of the Board of Directors, this matter should be disclosed;



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            MAIN                        MANAGEMENT                          COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                             ANALYSIS




        OJK Reference Index



                         Criteria                                       Explanation                                    Page
         Number of employees and data Number of employees by gender, position, age, education                           171
         on    employee   competency level, and employment status (permanent/contracted) in
         development.                 the financial year;
                                              Disclosure of information could be presented in tabular form.
         Composition of shareholders          Name of shareholders and percentage of ownership at                       171
                                              the beginning and end of the financial year consisted of
                                              information regarding:
                                              1. Shareholders owning 5% (five percent) or more shares of                174
                                              the Issuer or Public Company;
                                              2. Members of the Board of Directors and members of the
                                              Board of Commissioners owning shares of Issuers or Public
                                              Companies. In the event that all members of the Board of
                                              Directors and/or all members of the Board of Commissioners
                                              did not own shares, then this matter should be disclosed;
                                              3. Percentage of indirect ownership of shares of Issuers or
                                              Public Companies by members of the Board of Directors and
                                              members of the Board of Commissioners at the beginning
                                              and end of the financial year, including information on
                                              shareholders registered in the shareholder register for the
                                              benefit of indirect ownership of members of the Board of
                                              Directors and members of the Board of Commissioners;
                                              In the event that all members of the Board of Directors
                                              and/or all members of the Board of Commissioners did not
                                              have indirect ownership of the shares of the Issuer or Public
                                              Company, this matter shouldl be disclosed.
                                              Community shareholder group, namely the group of
                                              shareholders who each owned less than 5% (five percent) of
                                              the shares of the Issuer or Public Company;
                                              4. Number of shareholders and percentage of ownership at
                                              the end of the financial year based on classification:
                                              a. Ownership of local institutions;
                                              b. Ownership of foreign institutions;
                                              c. Local individual ownership; and
                                              d. Foreign individual ownership;
                                              The above information could be presented in tabular form.
         Major and controlling shareholders   Information regarding the main and controlling shareholders               171
                                              of the Issuer or Public Company, either directly or indirectly,
                                              to the individual owners presented in the form of a scheme
                                              or chart;
         List   of   subsidiaries    and/or The name of the subsidiary, associated company, joint                       184
         associated entities                venture company where the Issuer or Public Company had
                                            joint control of the entity (if any), along with the percentage
                                            of share ownership, line of business, total assets, and
                                            operating status of the subsidiary, associated company, joint
                                            venture company.
                                              For a subsidiary, information about the address of the
                                              subsidiary was added.
         Information related to the Bank
         Business Group
         Company group structure              Company group structure in the form of a chart depicting                  182
                                              parent entities, subsidiaries, associates, joint ventures, and
                                              special purpose vehicles (SPV).




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GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                                Statemens 2024




                                                                                         OJK Reference Index



                Criteria                                             Explanation                                      Page
  Share listing chronology                Chronology of share listing, number of shares, nominal value,                198
                                          and offering price from the beginning of listing to the end of
                                          the financial year as well as the name of the stock exchange
                                          where the shares of the Issuer or Public Company were
                                          listed, including stock splits, reverse stock, stock dividends,
                                          bonus shares, and changes in the nominal value of shares,
                                          implementation of conversion effects, implementation of
                                          capital additions and subtractions (if any);
  Chronology of securities issuance       Other securities listing information that had not matured in                 211
  (including   private    placement)      the financial year at least included the name of the securities,
  and/or share listing from the initial   year of issue, interest rate/yield, maturity date, offering value,
  issuance to the end of the financial    and rating of securities (if any);
  year.
  Information on the use of public Information on the use of public accounting services (AP)                           217
  accountants (AP) and public and public accounting firms (KAP) and their networks/
  accounting firms (KAP            associations/ allies included:
                                          1. Name and address;
                                          2. Assignment period;
                                          3. Information on audit and/or non-audit services provided;
                                          4. Audit and/or non-audit fees for each assignment given
                                          during the financial year; and
                                          5. In the event that AP and KAP and their networks/
                                          associations/allies, which are appointed do not provide non-
                                          audit services, then the information is disclosed.
                                          Disclosure of information on the use of AP and KAP services
                                          and their networks/associations/allies could be presented in
                                          tabular form.
  Name and address of supporting          Name and address of capital market supporting institutions                   218
  institutions and/or professions         and/or professions other than AP and KAP.
  Awards received in the last It contained nformation in the following:                                                220
  financial year and/or certifications
  that are still valid in the last financial
  year both on a national and
  international scale
                                          1. Name of award and/or certification;
                                          2. Year of award and/or certification;
                                          3. The awarding and/or certification body; and
                                          4. Validity period (for certification).
  Name and address of the It contained information including:                                                        184-197
  subsidiary and/or branch office or
  representative office (if any)
                                          1. Name and address of the subsidiary; and
                                          2. Name and address of branch/representative office.
                                          Note: if the company did not have a subsidiary, branch
                                          office, and representative office, it should be disclosed.




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            HIGHLIGHTS               REPORTS                                PROFILE                                  ANALYSIS




        OJK Reference Index




                         Criteria                                      Explanation                                          Page
         Information on Company Website    It included at least:                                                             226
                                           1. Shareholder information up to the individual ultimate
                                           owner;
                                           2. Fill in the Code of Ethics;
                                           3. Information on the General Meeting of Shareholders (GMS)
                                           at least includes material on the agenda discussed in the
                                           GMS, a summary of the minutes of the GMS, and information
                                           on important dates, namely the date of the announcement
                                           of the GMS, the date of the invitation to the GMS, the date of
                                           the GMS, the date of the summary of the minutes of the GMS
                                           being announced;
                                           4. Separate annual financial statements (last 5 years);
                                           5. Profile of the Board of Commissioners and Board of
                                           Directors; and
                                           6. Charter of the Board of Commissioners, Board of Directors,
                                           Committees, and Internal Audit Unit.
         Management      Discussion  and
         Analysis on Company Performance
         Operational review by business Operational review per business segment according to the                             351
         segment                        type of industry of the Issuer or Public Company, at least
                                        regarding:
                                           1. Explanation of each business segment.
                                           2. Performance per business segment, including:
                                           a. Production, which includes the process, capacity, and
                                           development;
                                           b. Increase/decrease in production capacity;
                                           c. Sales/operating income; and
                                           d. Profitability
         Description of the company’s      Financial performance analysis which included a
         financial performance             comparison between the financial performance of the year
                                           concerned with the previous year and the causes of an
                                           increase/decrease in an account (in the form of narratives
                                           and tables), including regarding:
                                           1. Current assets, non-current assets, and total assets;                        370-381
                                           2. Short-term liabilities, long-term liabilities and total liabilities;         381-388

                                           3. Equity;                                                                        389
                                           4. Sales/operating income, expenses, profit (loss), other                       390-394
                                           comprehensive income, and comprehensive income for the
                                           current period;
                                           5. Cash flow;                                                                     395
                                           6. Basic loan interest rate;                                                    439-441
                                           7. Analysis of the quality of earning assets and relevant                       448-453
                                           financial ratios.




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                                                                                        OJK Reference Index




               Criteria                                           Explanation                                     Page
  Discussion and analysis of abilities Explanation of:
  To pay debts and the collectibility
  level of the company’s receivables,
  by presenting the relevant ratio
  calculations according to the type
  of company industry

                                       1. Ability to pay debts, both short term and long term and                396-398
                                       2. The level of collectibility of receivables.                              399
  Discussion on capital structure and The explanation consisted of:
  management of capital structure
  policy
                                       1. Details of the capital structure consisting of interest- based         400-403
                                       debt/sukuk and equity; and
                                       2. Management policies on capital structure (capital                      400-403
                                       structure policies); and
                                       3. Basis for selecting management policy                                  400-403
  Discussion on material commitments It explained:
  for capital goods investment (not
  funding commitments) in the last
  financial year
                                       1. The name of the party making the bond;                                   403
                                       2. The purpose of the bond;
                                       3. The expected source of funds to fulfill these commitments;
                                       4. Currency to be denominated; and
                                       5. Measures planned by the company to protect the risk from
                                       the related foreign currency position.
                                       Note: if the company did not have a commitment related to
                                       investment in capital goods in the last financial year, it should
                                       be disclosed.

  Discussion on investment in capital It explained:                                                              403-404
  goods realized in the last financial
  year
                                       1. Types of investment in capital goods;

                                       2. The purpose of investment in capital goods; and
                                       3. The investment value of capital goods issued in the last
                                       financial year.
                                       Note: if there was no realization of capital goods investment,
                                       it should be disclosed.




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                         Criteria                                          Explanation                                    Page
         Comparison information between Comparison between targets/projections at the beginning                          408-410
         the target at the beginning of of the year book with the results achieved (realization),
         the financial year with the results regarding:
         achieved      (realization),  and
         the targets or projections to be
         achieved for the coming year.
                                                 1. Revenue/sales;
                                                 2. Profit (loss);
                                                 3. Capital structure;
                                                 4. Marketing;
                                                 5. HR Development;
                                                 6. Other matters deemed important to the Issuer or Public
                                                 Company.
                                                 Targets/projections to be achieved by the Issuer or Public
                                                 Company for the next 1 (one) year,
                                                 about:
                                                 1. Revenue/sales;
                                                 2. Profit (loss);
                                                 3. Capital structure (capital structure);
                                                 4. Dividend Policy;
                                                 5. Marketing;
                                                 6. HR Development;
                                                 7. Other matters deemed important to the Issuer or Public
                                                 Company.
         Material information and facts Description of significant events after the date of the                            410
         occurring after the date of the accountant’s report including their impact on future business
         accountant’s report             performance and risks.
                                                 Note: if there was no significant event after the date of the
                                                 accountant’s report, it should be disclosed.
         Description of the         company’s    The business prospects of the Issuer or Public Company are                282
         business prospects                      related to industrial conditions, the general economy and
                                                 the international market accompanied by quantitative
                                                 supporting data from reliable data sources.
         Description     of   the   marketing The marketing aspect of the goods and/or services of the                     284
         aspect                               Issuer or Public Company, at least regarding the marketing
                                              strategy and market share.
         Description of dividends for the last   Description of dividends for 2 (two) financial years last, at
         2 (two) financial years                 least:
                                                 1. Dividend policy contained information of the percentage              411-412
                                                 of total dividends distributed to net income;
                                                 2. Date of payment of cash dividends and/or date of
                                                 distribution of non-cash dividends;
                                                 3. Total dividends per share (cash and/or non-cash);
                                                 4. The amount of dividends per year paid.
                                                 Note: if there was no dividend distribution, the reasons should
                                                 be disclosed.




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                Criteria                                          Explanation                                    Page
  Realization of the use of proceeds It contained a description of:
  from the public offering (in the
  event that the
  company was still required to
  submit a report on the realization of
  the use of funds)
                                       1. Total proceeds;                                                         415
                                       2. Plan for the use of funds;
                                       3. Details of the use of funds;
                                       4. Fund balance; and
                                       5. The date of approval of the GMS/RUPO for changes in the
                                       use of funds (if any).
                                       Note: if the company did not have information on the
                                       realization of the use of proceeds from the public offering, it
                                       should be disclosed.
  Information        on       material It contained a description of:
  transactions containing conflicts
  of interest and/or transactions with
  affiliated parties
                                       1. Transaction date, value, and object;                                  416-421
                                       2. Name of the party conducting the transaction;
                                       3. The nature of the affiliation relationship (if any);
                                       4. Explanation of the fairness of the transaction;
                                       5. Fulfillment of related provisions;
                                       6. In the event that there was an affiliation relationship,
                                       in addition to disclosing the information as referred to in
                                       number 1) to number 5), the Issuer or Public Company also
                                       disclosed information:
                                       a. Statement of the Board of Directors that affiliated
                                       transactions had gone through adequate procedures
                                       to ensure that affiliated transactions were carried out in
                                       accordance with generally accepted business practices,
                                       among others, by complying with the arms-length principle;
                                       and
                                       b. The role of the Board of Commissioners and the audit
                                       committee in carrying out adequate procedures to ensure
                                       that affiliated transactions were carried out in accordance
                                       with generally accepted business practices, among others,
                                       is carried out by complying with the arms-length principle;
                                       7. For affiliated transactions or material transactions which
                                       became business activities carried out in order to generate
                                       business income and are carried out regularly, repeatedly,
                                       and/or continuously, an explanation was added that the
                                       affiliated transactions or material transactions were business
                                       activities carried out in order to generate operating income
                                       and run regularly, repeatedly, and/or continuously; In the
                                       event that the affiliated transactions or material transactions
                                       referred to have been disclosed in the annual financial
                                       statements, additional information regarding the disclosure
                                       reference in the annual financial statements was added.
                                       8. For disclosure of affiliated transactions and/or conflict of
                                       interest transactions resulting from the implementation of
                                       affiliated transactions and/or conflict of interest transactions
                                       that have been approved by independent shareholders,
                                       additional information regarding the date of the GMS which
                                       approved the affiliated transactions and/or conflict of
                                       interest transactions is added;


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                         Criteria                                      Explanation                                     Page
                                               9. In the event that there was no affiliated transaction and/
                                               or conflict of interest transaction, this matter should be
                                               disclosed.

         A description of changes in the laws The description included:
         and regulations of the company in
         the last financial year
                                               1. The name of the legislation undergoing changes; and                 423-433
                                               2. The impact (quantitative and/or qualitative) on the
                                               company (if significant) or a statement that the impact is not
                                               significant.
                                               Note: if there were no changes to the laws and regulations in
                                               the last financial year, the matters should be disclosed.
         A description of the changes in The description included:
         accounting policies adopted by
         the company in the last financial
         year
                                               1. Changes in accounting policies;                                     434-435
                                               2. Reasons for changes in accounting policies; and
                                               3. Quantitative impact on financial statements.
                                               Note: If there was no change in accounting policy in the last
                                               financial year, it should be disclosed.
         Business continuity information       Disclosure of information regarding:
                                               1. Potential Matters having a significant effect on the                437-438
                                               company’s business continuity in the last financial year;
                                               2. Management’s assessment of the items in number 1; and
                                               3. Assumptions used by management in conducting the
                                               assessment.
                                               Note: if there were no matters that had the potential to
                                               significantly affect the continuity of the company’s business
                                               in the last financial year, the company should disclose the
                                               assumptions that underlied management believe that there
                                               are no matters that had the potential to significantly affect
                                               the company’s business continuity in the last financial year.
         Good Corporate Governance
         GMS                                   Information regarding the resolutions of the GMS in the                553-562
                                               financial year and 1 (one) year before the financial year
                                               included:
                                               a. resolutions of the GMS in the financial year and 1 (one)
                                               year before the financial year are realized in the financial
                                               year; and
                                               b. resolutions of the GMS for the financial year and 1 (one)
                                               year before the financial year that have not been realized
                                               and the reasons for not realizing them;
                                               in the event that the Issuer or Public Company uses an
                                               independent party in the conduct of the GMS to calculate
                                               the votes, then this matter shall be disclosed.




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              Criteria                                        Explanation                                        Page
  Directors                         1 Duties and responsibilities of each member of the Board of           230, 552, 649,651,
                                    Directors                                                                655, 676-678
                                    Information regarding the duties and responsibilities of each
                                    member of the Board of Directors is described and can be
                                    presented in tabular form.
                                    2. A statement that the Board of Directors had guidelines or
                                    charter for the Board of Directors;
                                    3. Policy and implementation of the frequency of meetings of
                                    the Board of Directors, meetings of the Board of Directors with
                                    the Board of Commissioners, and the level of attendance of
                                    members of the Board of Directors in the meeting including
                                    attendance at the GMS;
                                    Information on the level of attendance of members of the
                                    Board of Directors at the meeting of the Board of Directors,
                                    the meeting of the Board of Directors with the Board of
                                    Commissioners, or the GMS can be presented in tabular form.
                                    5. Training and/or competency improvement of members of
                                    the Board of Directors:
                                    a. Policy on training and/or improving the competence of
                                    members of the Board of Directors, including an orientation
                                    program for newly appointed members of the Board of
                                    Directors (if any); and
                                    b. Training and/or competency improvement attended by
                                    members of the Board of Directors in the financial year (if
                                    any);
                                    6. The Board of Directors’ assessment of the performance of
                                    the committees supporting the implementation of the Board
                                    of Directors’ duties for the financial year shall at least contain:
                                    a. performance appraisal procedures; and
                                    b. the criteria used were performance achievements
                                    during the financial year, competence and attendance at
                                    meetings; and
                                    in the event that the Issuer or Public Company did not have a
                                    committee that supports the implementation of the duties of
                                    the Board of Directors, then this should be disclosed.




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                         Criteria                                   Explanation                                   Page
         Board of Commissioners            1. Duties and responsibilities of the Board of Commissioners;     227-229, 564-572,
                                                                                                               578, 587, 588
                                           2. A statement that the Board of Commissioners had
                                           guidelines or charter for the Board of Commissioners;
                                           3. Policy and implementation of the frequency of meetings
                                           of the Board of Commissioners, meetings of the Board of
                                           Commissioners with the Board of Directors and the level of
                                           attendance of members of the Board of Commissioners in
                                           these meetings, including attendance at the GMS.
                                           Information on the level of attendance of members of the
                                           Board of Commissioners at the meeting of the Board of
                                           Commissioners, the meeting of the Board of Commissioners
                                           with the Board of Directors, or the GMS can be presented in
                                           tabular form.
                                           4. training and/or competency improvement of members of
                                           the Board of Commissioners:
                                           a. policies on training and/or improving the competence
                                           of members of the Board of Commissioners, including
                                           orientation programs for newly appointed members of the
                                           Board of Commissioners (if any); and
                                           b. training and/or competency improvement attended by
                                           members of the Board of Commissioners in the financial year
                                           (if any);
                                           5. Performance appraisal of the Board of Directors and the
                                           Board of Commissioners as well as each member of the
                                           Board of Directors and the Board of Commissioners, at least
                                           containing:
                                           a. performance appraisal implementation procedures;
                                           b. the criteria used were performance achievements
                                           during the financial year, competence and attendance at
                                           meetings; and
                                           c. the party conducting the assessment; and
                                           6. The assessment of the Board of Commissioners on
                                           the performance of the Committees that support the
                                           implementation of the duties of the Board of Commissioners
                                           in the financial year includes:
                                           a. performance appraisal procedures; and
                                           b. the criteria used are performance achievements during
                                           the financial year, competence and attendance at
                                           meetings;
         Independent         Commissioner It included:
         (minimum 30% of the total Board of
         Commissioners)
                                           1. Criteria for determining the Independent Commissioner;             578-579
                                           and
                                           2. Statement on the independence of each Independent                  578-579
                                           Commissioner.
         Nomination and remuneration At least it contained:
         of the Board of Directors and the
         Board of Commissioners
                                           1. The nomination procedure, including a brief description            640-644
                                           of the nomination policies and processes for members
                                           of the Board of Directors and/or members of the Board of
                                           Commissioners; and
                                           2. Procedures and implementation of remuneration for the              640-644
                                           Board of Directors and the Board of Commissioners, including:
                                           a. procedures for determining remuneration for the Board of           640-644
                                           Directors and the Board of Commissioners;


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               Criteria                                        Explanation                                   Page
                                     b. the remuneration structure of the Board of Directors and            640-644
                                     the Board of Commissioners such as salary, allowances,
                                     tantiem/bonus and others; and
                                     c. the amount of remuneration for each member of the Board             644-647
                                     of Directors and member of the Board of Commissioners;
                                     Disclosure of information can be presented in tabular form.
  Implementation     of    Good                                                                             644-647
  Corporate     Governance    in
  Providing   Remuneration   for
  Commercial Banks
  Audit committee                    1. Name and position in committee membership;                     131, 132, 138, 140,
                                                                                                         141, 594-596
                                     2. Age;
                                     3. Nationality;
                                     4. Educational history;
                                     5. Position history, including information on:
                                     a. Legal basis for appointment as committee member;
                                     b. Concurrent positions, either as a member of the board of
                                     commissioners, member of the board of directors, and/or
                                     committee member and other positions (if any); and
                                     c. Work experience and period of time both inside and
                                     outside the issuer or public company;
                                     6. Period and term of office of audit committee members;                 595
                                     7. Statement of independence of the audit committee;                     600
                                     8. Training and/or competency improvement that have                    231-233
                                     been followed in the financial year (if any);
                                     9. Policy and implementation of the frequency of audit                   601
                                     committee meetings and the level of attendance of audit
                                     committee members at the meeting; and
                                     10. Implementation of the audit committee’s activities for the           602
                                     financial year in accordance with the guidelines or charter of
                                     the audit committee;

  Committee        or  function of At least it contained:
  nomination and remuneration
  Issuers or Public Companies
                                     1. Name and position in committee membership;                     131, 132, 142, 134,
                                                                                                              137
                                     2. Age;
                                     3. Nationality;
                                     4. Educational history;
                                     5. Position history, including information on:
                                     a. Legal basis for appointment as committee member;
                                     b. Concurrent positions, either as a member of the Board of
                                     Commissioners, member of the Board of Directors, and/or
                                     committee member and other positions (if any); and
                                     c. Work experience and period of time both inside and
                                     outside the Issuer or Public Company;
                                     6. The period and term of office of the committee members;               605
                                     7. Committee independence statement;                                     608
                                     8. Training and/or competency improvement that have                    234-235
                                     been followed in the financial year (if any);
                                     9. Description of duties and responsibilities;                           606
                                     10. A statement of having a guideline or charter (charter);              606


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                         Criteria                                   Explanation                                      Page
                                          11. Policy and implementation of the frequency of meetings                609-610
                                          and the level of attendance of members at the meeting;
                                          12. Brief description of the implementation of activities in the            610
                                          financial year; and
                                          In the event that no nomination and remuneration committee
                                          is formed, the Issuer or Public Company is sufficient to
                                          disclose the information as referred to in letter i) to letter l)
                                          and disclose:
                                          1. Reasons for not forming the committee; and                               n/r
                                          2. The party carrying out the nomination and remuneration
                                          function;
         Other committees owned by the At least it contained:                                                  131, 132, 133, 134,
         Issuer or Public Company in order                                                                     137, 139, 140, 615,
         to support the functions and duties                                                                        623-628
         of the Board of Directors (if any)
         and/or committees that
         supported the functions and duties
         of the Board of Commissioners

                                          1. Name and position in committee membership;
                                          2. Age;
                                          3. Nationality;
                                          4. Educational history;
                                          5. Position history, including information on:
                                          a. Legal basis for appointment as committee member;
                                          b. Concurrent positions, either as a member of the board of
                                          commissioners, member of the board of directors, and/or
                                          committee member and other positions (if any); and
                                          c. Work experience and period of time both inside and
                                          outside the issuer or public company;
                                          6. The period and term of office of the committee members;                  623
                                          7. Committee independence statement;                                        631
                                          8. Training and/or competency improvement followed in the                 244-253
                                          financial year (if any); and
                                          9. Description of duties and responsibilities;                              616
                                          10. A statement that the committee has had guidelines or                    616
                                          charters;
                                          11. Policy and implementation of the frequency of committee               618-619
                                          meetings and the level of attendance of committee
                                          members at the meeting; and
                                          12. Brief description of the committee’s activities for the               620, 635
                                          financial year;




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                Criteria                                         Explanation                                     Page
  Company secretary                   1. Name;                                                                    716
                                      2. Domicile;
                                      3. Position history, including:
                                             a.   Legal basis for appointment as company secretary;
                                                  and
                                             b.   Work experience and period of time both inside
                                                  and outside the issuer or public company;
                                             c.   Educational history;
                                             d.   Training and/or competency improvement that                     243
                                                  was followed in the financial year; and
                                             e.   A brief description of the implementation of the                721
                                                  duties of the corporate secretary for the financial
                                                  year;
  Internal Audit Unit                 1. Name of the head of the internal audit unit;                             732

                                      2. Position history, including:
                                      a. Legal basis for appointment as head of internal audit unit;
                                      and
                                      b. Work experience and period of time both inside and
                                      outside the issuer or public company;
                                      3. Qualification or certification as an internal audit profession         735-736
                                      (if any);
                                      4. Training and/or competency improvement that was                          244
                                      followed in the financial year;
                                      5. The structure and position of the internal audit unit;                   733
                                      6. Description of duties and responsibilities;                              734
                                      7. A statement that the internal audit unit had a guideline or              734
                                      charter; and
                                      8. A brief description of the implementation of the internal                737
                                      audit unit’s duties for the financial year including the policy
                                      and implementation of the frequency of meetings with the
                                      board of directors, board of commissioners, and/ or audit
                                      committee;
  Public Accountant                   1. Name and year of the public accountant who audited the                 739-742
                                      annual financial statements for the last 5 years;
                                      2. Name and year of the Public Accounting Firm that audited
                                      the annual financial statements for the last 5 years;
                                      3. The amount of the fee for each type of service provided
                                      by the Public Accounting Firm in the last financial year; and
                                      4. Other services provided by Public Accounting Firms and
                                      public accountants other than auditing services for annual
                                      financial statements in the last financial year.
                                      Note: if there was no other service, it should be disclosed.




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                         Criteria                                         Explanation                                      Page
         A description of the internal control 1. Financial and operational control, as well as compliance                743-748
         system implemented by the issuer with other laws and regulations;
         or public company,
                                                 2. Review of the effectiveness of the internal control system;
                                                 and
                                                 3. Statement of the Board of Directors and/or Board of
                                                 Commissioners on the adequacy of the internal control
                                                 system;
         The risk management system 1. General description of the risk management system of the                           804-806
         implemented by the Issuer or Public Issuer or Public Company;
         Company
                                                 2. Types of risks and how to manage them;                                804-806
                                                 3. Overview of the effectiveness of the risk management
                                                                                                                            835
                                                 system
                                                 Issuer or Public Company; and                                              835
                                                 4. Statement of the Board of Directors and/or the Board of
                                                 Commissioners or the audit committee on the adequacy of
                                                 the risk management system;
         Legal cases that have a material 1. Principal case/lawsuit;                                                      765-772
         impact faced by the issuer or
         public  company,        subsidiaries,
         members of the board of directors
         and members of the board of
         commissioners (if any),
                                                 2. Status of settlement of cases/claims; and                             765-772
                                                 3. The effect on the condition of the issuer or public company;            765
         Information     on    administrative                                                                               771
         sanctions/     sanctions   imposed
         on issuers or public companies,
         members of the board of
         commissioners and members of the
         board of directors, by the financial
         services authority and other
         authorities in the financial year (if
         any)

         Access to company information                                                                                      773
         and data: A description of the
         availability of access to company
         information and data to the public,
         for example through the website
         (in Indonesian and English), mass
         media, mailing lists, bulletins,
         meetings with analysts, and
         so on.

         Information regarding the code 1. The points of the code of ethics;                                              774-789
         of conduct of the Issuer or Public
         Company
                                                 2. Disclosure that the code of ethics applied to all levels of           774-789
                                                 the organization;
                                                 3. Dissemination of the code of ethics;                                  774-789
                                                 4. Sanctions for each type of violation stipulated in the code           774-789
                                                 of ethics (normative); and
                                                 5. The number of violations of the code of ethics along with             774-789
                                                 the sanctions given in the last financial year.
                                                 Note: if there is no violation of the code of ethics in the last
                                                 financial year, it must be disclosed.


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                Criteria                                          Explanation                                  Page
  A brief description of the policy of Information disclosed should at least contain:                      198, 413-414
  providing long-term performance-
  based       compensation          to
  management and/or employees
  owned by the issuer or public
  company (if any), including the
  management stock ownership
  program (MSOP) and/or stock
  ownership program by employees
  (employee       Stock     ownership
  program/ESOP);

  In   the   case    of    providing
  compensation in the form of a
  management stock ownership
  program (MSOP)        and/or    an
  employee     stock      ownership
  program (ESOP),

                                        1. Number of shares and/or options;                              131-142, 144-156,
                                                                                                             175, 659
                                        2. Implementation period;
                                        3. Requirements for eligible employees and/or management;
                                        and
                                        4. Execution price or determination of exercise price.
  Brief description   of   Information 1. Share ownership of members of the board of directors
  disclosure policy                    and members of the board of commissioners no later than
                                       3 (three) working days after the occurrence of ownership or
                                       any change in ownership of shares of a public company;
                                       and
                                        2. Implementation of the policy;
  Description of the whistleblowing 1. How to submit a violation report;                                        787
  system at the Issuer or Public
  Company
                                        2. Protection for whistleblowers;
                                        3. Handling of complaints;
                                        4. The party managing the complaint; and
                                        5. The results of the handling of complaints, at least:
                                        a. Number of complaints received and processed in the
                                        financial year; and
                                        b. Follow-up on complaints;
                                        In the event that the issuer or public company did not have a
                                        whistleblowing system, then this should be disclosed.




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                         Criteria                                      Explanation                                    Page
         Description of the Issuer’s or Public 1. Programs and procedures implemented in overcoming                    780
         Company’s anti-corruption policy      the practice of corruption, kickbacks, fraud, bribery and/ or
                                               gratuities in Issuers or Public Companies; and
                                              2. Anti-corruption training/socialization for employees of
                                              Issuers or Public Companies;
                                              In the event that the Issuer or Public Company did not have
                                              an anti-corruption policy, the reasons for not having the said
                                              policy should be explained.
         Policy regarding the diversity of                                                                           636-639
         the composition of the Board of
         Commissioners and the Board
         of Directors. Description of the
         Company’s       written   policies
         regarding the diversity of the
         composition of the Board of
         Commissioners and Directors in
         education (field of study), work
         experience, age, and gender.
         Note: if there was no such policy,
         the reasons and considerations
         should be disclosed.
         Implementation          of      Public 1. Statement of recommendations           that   had   been          529-539
         Company governance guidelines implemented; and/or
         for Issuers issuing equity securities or
         Public Companies
                                              2. Explanation of recommendations that had not been
                                              implemented, along with reasons and alternative
                                              implementations (if any).
                                              Disclosure of information can be presented in tabular form.
         GCG Implementation Assessment It contained a description of:
         for the financial year 2023 which
         included at least aspects of the
         Board of Commissioners and the
         Board of Directors
                                              1. Criteria used in the assessment                                     523-528
                                              2. The party conducting the assessment
                                              3. The assessment score of each criterion
                                              4. Recommended assessment results
                                              5. Reasons for not yet/not implemented recommendations.




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                                                                                     OJK Reference Index




                Criteria                                        Explanation                                       Page
  Financial Information
  Statement Letter of the Board Compliance with related regulations regarding Responsibility                 FS Pages Board
  of   Directors  and/or    Board for Financial Statements.                                                    of Directors’
  of    Commissioners   regarding                                                                           Statement Letter
  Responsibility  for    Financial
  Statements



  Independent auditor’s opinion on                                                                          FS Opinion Page
  financial statements
  Description of Independent Auditor The description contained about:                                       FS Opinion Page
  in Opinion
                                      1. Name and signature;
                                      2. Date of the Audit Report; and
                                      3. KAP license number and Public Accountant license
                                      number.
  Complete financial reports          It completely contained the elements of the financial                  FS pages 1054-
                                      statements:                                                                 1420
                                      1. Statement of financial position;
                                      2. Statement of profit or loss and other comprehensive
                                      income;
                                      3. Statement of changes in equity;
                                      4. Cash flow statement;
                                      5. Notes to financial statements;
                                      6. Comparative information about the previous period; and
                                      7. Statement of financial position at the beginning of the
                                      previous period when the entity applies an accounting
                                      policy retrospectively or restates financial statement items, or
                                      when the entity reclassifies items in its financial statements (if
                                      relevant).
  Profitability level comparison      Comparison of performance/profit (loss) for the current year           FS pages 1076-
                                      with the previous year                                                      1078
  Cash flow statement                 It should meet the following conditions:                               FS pages 1081-
                                                                                                                  1084
                                      1. Grouping into three categories of activities: operating,
                                      investing, and financing;
                                      2. Using the direct method to report cash flows from operating
                                      activities;
                                      3. Separation of presentation between cash receipts and or
                                      cash disbursements during the year in operating, investing
                                      and financing activities; and
                                      4. Disclosure of non-cash transactions must be included in
                                      the notes to the financial statements.




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        OJK Reference Index




                         Criteria                                           Explanation                                  Page
         Accounting Policy Overview             It included at least:                                                FS pages 1114-
                                                                                                                          1203
                                                1. Statement of compliance with SAK;
                                                2. Basis of measurement and preparation of financial
                                                statements;
                                                3. Income tax;
                                                4. Work benefits; and
                                                5. Financial Instruments.
         Disclosure   of      related    party The things that were disclosed included:                              FS pages 1407-
         transactions                                                                                                     1417
                                                1. Name of the related party, as well as the nature and
                                                relationship with the related party;
                                                2. Transaction value and its percentage to the total related
                                                revenues and expenses; and
                                                3. Total balance and its percentage to the total related
                                                assets or liabilities.
         Disclosures related to taxation        The things that were disclosed included:                             FS pages 1327-
                                                                                                                          1336
                                                1. Fiscal reconciliation and calculation of current tax burden;
                                                2. Explanation of the relationship between tax expense
                                                (income) and accounting profit;
                                                3. A statement that the reconciled Taxable Profit (LKP) was
                                                used as the basis for filling out the Annual Corporate Income
                                                Tax Return;
                                                4. Details of deferred tax assets and liabilities recognized in
                                                the statement of financial position for each presentation
                                                period, and the amount of deferred tax expense (income)
                                                recognized in profit or loss if the amount was not reflected in
                                                the amount of deferred tax assets or liabilities recognized in
                                                the statement of position. finance; and
                                                5. Disclosure of whether or not there is a tax dispute.
         Disclosures relating to fixed assets   The things that were disclosed included:                            FS pages 1070,
                                                                                                                    1283-1291, 1500
                                                1. The depreciation method used;
                                                2. A description of the accounting policy chosen between
                                                the revaluation model and the cost model;
                                                3. The significant methods and assumptions used in
                                                estimating the fair value of property, plant and equipment
                                                (for the revaluation model) or the disclosure of the fair value
                                                of property, plant and equipment (for the cost model); and
                                                4. Reconciliation of gross carrying amount and accumulated
                                                depreciation of property, plant and equipment at the
                                                beginning and end of the period by showing: addition,
                                                subtraction and reclassification.




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                Criteria                                       Explanation                                     Page
  Disclosures relating to operating The things that were disclosed included:                              FS pages 1418-
  segments                                                                                                     1422
                                      1. General information covering the factors used to identify
                                      the reported segments;
                                      2. Information on the reported segment’s profit or loss, assets
                                      and liabilities;
                                      3. Reconciliation of total segment revenue, reported segment
                                      profit or loss, segment assets, segment liabilities, and other
                                      material segment elements to the related amounts within the
                                      entity; and
                                      4. Disclosure at the entity level, which included information
                                      about products and/or services, geographic areas and key
                                      customers.
  Disclosures relating to Financial The things that were disclosed included:                              FS pages 1118-
  Instruments                                                                                                  1159
                                      1. Details of financial instruments owned based on their
                                      classification;
                                      2. Fair values and their hierarchy for each group of financial
                                      instruments;
                                      3. Explanation of risks associated with financial instruments:
                                      market risk, credit risk and liquidity risk;

                                      4. Risk management policy; and
                                      5. Analysis of the risks associated with financial instruments
                                      quantitatively.
  Issuance of financial statements    The things that were disclosed included:                      FS Pages Board
                                                                                                    of Directors’
                                      1. The date on which the financial statements were authorized
                                                                                                    Statement Letter
                                      for issue; and
                                      2. The party responsible for authorizing the financial
                                      statements.




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       MSCI INDEX

          ESG Aspect               Key Issues                             Bank Mandiri Response                                 Page

       Environmental     ESG Risk Management Policies ESG Risk Management Policies Bank Mandiri consistently Pg. 127 Sustainability Report
                                                      implements environmental, social and overnance
                                                      risk management according to the precautionary
                                                      principle in all business activities. Bank Mandiri continues
                                                      to integrate ESG aspects in order to improve effective
                                                      risk management to deal with current climate and
                                                      social risks. Bank Mandiri carried out identification and
                                                      development of ESG risk management procedures as
                                                      set forth in the ESG Risk Management Policy.
       Environmental     Credit policy     related    to Credit Policy for the Oil Palm & CPO Plantation Sector In Pg. 121 Sustainability Report
                         agriculture                     managing ESG risk in the agriculture sector, particularly
                                                         Palm Oil & CPO plantations, Bank Mandiri requires that
                                                         ISPO (Indonesian Sustainable Palm Oil) be fulfilled, or
                                                         at a minimum, that proof of ISPO registration from an
                                                         ISPO Certification Institution. Additionally, Bank Mandiri
                                                         is attentive to the debtor’s environmental and labor
                                                         policies, including Occupational Safety and Health
                                                         (OHS), procedures for preventing and handling land
                                                         fires that comply with applicable standards, No
                                                         Deforestation, No Peat, No Exploitation (NDPE) policies,
                                                         which encompass policies related to land clearing,
                                                         conservation of High Conservation Value (HCV) areas,
                                                         and Waste Treatment Plant (WWTP) installations.
       Environmental     Credit policy     related    to In managing ESG risk in the Biodiversity sector, Pg. 123 Sustainability Report
                         biodiversity                    specifically in the Industrial Plantation Forest sector, Bank
                                                         Mandiri requires the submission of documents related
                                                         to Industrial Plantation Forest Management Permits,
                                                         such as Business Permits for Utilization of Timber Forest
                                                         Products and/or Non-Timber Forest Products, as well as
                                                         Business Work Plans that have already been approved
                                                         by the Ministry of Environment and Forestry.
       Environmental     Credit policy related to energy In managing ESG risks in the Energy and Energy Use Pg. 121 Sustainability Report
                         use                             sectors, particularly the construction of a new Steam
                                                         Power Plant (PLTU), Bank Mandiri considers the financing
                                                         period to be aligned with the government’s timeline
                                                         regarding the energy transition and pays attention
                                                         to the debtor’s policies related to the environment
                                                         (carbon emissions, coal ash, management water and
                                                         waste) and labor policies.
       Environmental     Credit policy related to mining In the Mining sector, Bank Mandiri requires its debtors to Pg. 121 Sustainability Report
                                                         implement Good Mining Practices in compliance with
                                                         applicable laws and regulations, including the Annual
                                                         Work Plan & Budget approved by the Ministry of Energy
                                                         and Mineral Resources of the Republic of Indonesia,
                                                         and/or other relevant documents regarding Good
                                                         Mining Practices.
       Environmental     Credit policy related to oil and In managing ESG risk in the Oil & Gas sector, especially Pg. 122 Sustainability Report
                         gas                              in the upstream oil and gas exploitation business sector,
                                                          Bank Mandiri requires the fulfillment of documents that
                                                          explain the legal status of land use in non-disputed area,
                                                          Contract Agreement and compliance with production
                                                          requirements as per relevant laws and regulations.
       Environmental     Involvement of Group Credit Bank Mandiri identifies ESG risks by involving credit Pg. 119-129 Sustainability
                         Risk in ESG due dilligence  risk groups in the due-diligence process, starting from Report
                                                     determining targeted customers, credit analysis, and
                                                     approval to monitoring, as reflected in the table of the
                                                     loan process flow.
       Environmental     ESG due diligence triggers The credit risk group’s involvement in the ESG due- Pg. 119-129 Sustainability
                         and risk escalation process diligence process is also reflected in the escalation Report
                         clearly defined             mechanism in the credit approval and monitoring
                                                     process for large-scale and high-risk debtors.


       Environmental     Company conducts climate- Going forward, Bank Mandiri will aim to measure the Pg. 278 Sustainability Report
                         related risk analysis     impact of climate risk in a more comprehensive manner,
                                                   such as by conducting climate scenario analysis
                                                   and testing customer credit portfolios for climate risk,
                                                   including transition and physical risks.




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                                                                                                                MSCI INDEX



    ESG Aspect             Key Issues                              Bank Mandiri Response                              Page

 Environmental   Oversight     of ESG     risk To further enhance the effectiveness of ESG initiatives Pg. 119-129, 278
                 management in financing and climate risk management, Bank Mandiri has Sustainability Report
                 activities                    established an Environmental, Social & Governance
                                               (ESG) Group with direct supervision of the Vice President
                                               Director. The ESG Group serves as a control tower for
                                               Bank Mandiri’s ESG implementation, managing the
 Environmental   Evidence      of board-level framework, aligning applicable ESG and climate
                 engagement on climate- change policies, managing Sustainable Portfolio,
                 related risks                 developing responsible banking & operation strategy,
                                               and communicating/reporting to both external and
                                               internal parties. ESG implementation updates, including
                                               climate risk mitigation was reported on a regular
                                               basis to the Board level committee through the Risk
                                               Management and Policy Committee (RMPC) meeting
                                               and the Board of Commissioners through the Risk
                                               Monitoring Committee (RMC) meeting
 Environmental   Formal management systems Board of Directors is responsible in monitoring the Pg. 278 Sustainability Report
                 to assess ESG risks in financing implementation and fulfillment of ESG targets through
                 activities                       the Risk Management & Credit Policy Committee
                                                  (RMPC) forum in accordance with the duties &
                                                  authorities stipulated in the Decree of the Board of
                                                  Directors of PT Bank Mandiri (Persero) Tbk, Number
                                                  Kep.Dir/009/2021 on Risk Management & Credit Policy
                                                  Committee.
 Environmental   Some evidence       of     green Meanwhile, in terms of loan disbursement, Bank Mandiri Pg. 107-109 Sustainability
                 financing                        distributed sustainable financing according to the Report
                                                  Sustainable Business Activities Category (KKUB) as set
                                                  forth in OJK Regulation No. 51/2017 in the amount of
                                                  Rp228.7 Tn or 24.5% of total loans, or an increase of
                                                  11.6% compared to 2021.

 Environmental   Involvement in green bonds        Bank Mandiri is committed to supporting the Pg. 117 Sustainability Report
                                                   government’s programs and achieving national
                                                   sustainability targets by actively participating as a
                                                   marketer of ESG-based investment products, such as
                                                   Green Sukuk and Green Bond.



 Social          Employee     Training      on Bank Mandiri provides regular training to around 17,000 Pg. 99 Sustainability Report
                 Consumer Financial Protection front-line employees since 2000 on topics related to
                                               Mandiri products and services, effective handling
                                               customer’s complaints, and other themes on monthly
                                               basis, in order to improve knowledge among all front-
                                               line employees who deal directly with customers. This
                                               includes post-tests to ensure that the material presented
                                               is well-received and understood.
 Social          Debt Collection Policy            Selain memiliki kebijakan perlindungan keuangan Pg. 155 Sustainability Report
                                                   konsumen, Bank Mandiri juga memiliki kebijakan
                                                   penagihan hutang yang memuat pemenuhan hak-hak
                                                   debitur sebagaimana tertuang dalam: 1. Kebijakan
                                                   Perkreditan Bank Mandiri dengan perubahan terakhir
                                                   ditandatangani oleh Direksi dan berlaku sejak 7
                                                   Maret 2022. 2. Standar Prosedur Operasional Credit
                                                   Collection & Recovery sebagaimana diubah terakhir
                                                   pada tahun 2022. 3. Peraturan internal lain yang terkait
                                                   Dalam peraturan tersebut, secara umum diatur tata
                                                   cara penagihan utang dengan tetap melindungi
                                                   kenyamanan debitur sebagai konsumen.
 Social          Product/Service Reviews           The Board-Level Committee of Bank Mandiri is Pg. 150-151 Sustainability
                                                   committed to ensuring the quality and integrity of Report
                                                   its products and services. To this end, the Committee
                                                   regularly conducts review, monitoring and evaluations
                                                   of all financial offerings, including the development
                                                   of new product. In addition, Bank Mandiri follows
                                                   strict regulations and guidelines, seeking approval
                                                   from relevant authorities (OJK, Bapepam, etc) before
                                                   introducing any new financial products and services.
 Social          Fair  Advertising        Policies/ Bank Mandiri, as the preferred financial partner for Pg. 152-153 Sustainability
                 Procedures                         customers, strives to offer fair and compliant products Report
                                                    and services in accordance with relevant laws and
                                                    regulations. To guarantee this, the bank ensures that
                                                    all employees, especially those interacting directly with
                                                    customers, possess adequate knowledge, skills and stay
                                                    updated on evolving customer needs.



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          ESG Aspect                   Key Issues                           Bank Mandiri Response                               Page

       Social                Process    for         Handling Bank Mandiri places a high priority on customer Pg. 157-159 Sustainability
                             Complaints                      satisfaction and provides a mechanism for customers to Report
                                                             submit complaints or express concerns. In accordance
                                                             with the regulations set by the Financial Services
                                                             Authority (OJK), the bank has established a dedicated
                                                             customer care unit, Customer Care Group, to handle
                                                             and resolve all customer complaints in a timely manner
                                                             and in accordance with the established Service
                                                             Level Agreement (SLA). Bank Mandiri provides various
                                                             platform accessible for customers to submit complaints
       Social                Loan Modification Options       Dalam alur proses pemberian kredit Tahap Loan Pg. 156 Sustainability Report
                                                             Monitoring, melihat kualitas kredit debitur eksisting
                                                             melalui berbagai cara salah satunya mekanisme
                                                             Watchlist, mekanisme ini digunakan sebagai Early
                                                             Warning Signal dalam kualitas kredit yang diberikan,
                                                             yang menganalisa 3 aspek yaitu prospek bisnis debitur
                                                             ke depan, performance keuangan, serta repayment
                                                             history. Apabila berdasarkan monitoring tersebut
                                                             terdapat indikasi adanya penurunan kualitas, maka
                                                             Bank Mandiri akan melakukan penyelamatan kredit
                                                             bermasalah, upaya-upaya yang dilakukan oleh Bank
                                                             terhadap debitur kredit bermasalah yang masih
                                                             mempunyai prospek dan kinerja usaha serta kemampuan
                                                             membayar, dengan tujuan untuk meminimalkan
                                                             kemungkinan timbulnya kerugian bagi Bank dan
                                                             menyelamatkan kembali kredit yang telah diberikan.
                                                             Penyelamatan          kredit     dapat         berupa
                                                             Restrukturisasi,        dimana           Restrukturisasi
                                                             dapat       dilakukan     antara     lain,     melalui:
                                                               1. Penurunan suku bunga kredit; 2. Perpanjangan
                                                             jangka waktu kredit; 3. Pengurangan tunggakan
                                                             bunga kredit;4. Pengurangan tunggakan pokok kredit;
                                                             5. Penambahan fasilitas kredit; dan/atau 6. Konversi
                                                             kredit menjadi penyertaan modal sementara,
       Social                Financial Education Initiatives Bank Mandiri recognizes the crucial role of financial Pg. 217-221 Sustainability
                             and Stakeholder Outreach        literacy in promoting both individual financial wealth Report
                                                             and overall societal well-being. Individuals with
                                                             strong financial literacy skills are better equipped to
                                                             manage their finances and make informed, responsible
                                                             decisions. As such, financial literacy can be seen as
                                                             a form of investment in society. In line with this belief,
                                                             Bank Mandiri actively supports the government’s efforts
                                                             to increase financial literacy through various programs
                                                             in partnership with educational institutions
       Social                Oversight of Complaints         The customer complaint report is directly monitored Pg. 157 Sustainability Report
                                                             by the Director of Operation on a monthly basis and
                                                             reported to the regulator.

       Social                Scope of support for degree Furthermore, Bank Mandiri also prepares its millennial Pg. 170-178 Sustainability
                             programs and certifications employees to be the future leaders by providing Report
                                                         scholarships to the best universities in the world. This
                                                         includes IESE, Yale SOM, ESADE, New York University,
                                                         Haas Berkeley, Carnegie Mellon, Virginia Darden, etc.
                                                         Each year, Bank Mandiri sponsors 25-30 employees
                                                         to study abroad. As top talents, these employees are
                                                         encouraged to choose majors that are related to the
                                                         company’s needs. These majors include digital business,
                                                         advanced finance, and data sciences.
       Social                Extent of grievance reporting The implementation of good sustainability governance Pg. 283 Sustainability Report
                             or escalation procedures      is inseparable from the support of stakeholders who
                                                           provide input to maintain the integrity of Bank Mandiri.
                                                           Stakeholders and external parties can raise complaints
                                                           or reports through a whistleblowing system called
                                                           Letter to CEO (LTC). This system promotes transparency
                                                           and prevents potential violations of the code of
                                                           conduct and fraud, such as indications of fraud, fraud,
                                                           embezzlement, information leakage, banking crimes,
                                                           corruption, and other fraudulent acts




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                                                                                                                  MSCI INDEX


    ESG Aspect                Key Issues                           Bank Mandiri Response                               Page

 Social          Engagement     surveys     to The Bank conducted an engagement survey to 18,466 Pg. 182 Sustainability Report
                 monitor employee satisfaction employees during the period of December 2022,
                                               with a score of 88.06%. The survey was conducted
                                               by an independent consultant with measurements
                                               on organization, leadership, career development,
                                               relationships and communication, compensation
                                               benefits, job fit, contribution/opportunity to give the
                                               best and work groups.
 Social          Formal     talent    pipeline     Talent       Pipeline     Development       Strategy Pg. 170-178 Sustainability
                 development          strategy     The Employee Value Proposition (EVP) has been Report
                 (forecasts    hiring   needs,     realized through the management of all phases of the
                 actively develops new pools       employment cycle as outlined in the Employee Life
                 of talent)                        Cycle (8A), from the initial design of organizational
                                                   structure and capacity, forecasting hiring needs,
                                                   forming, and developing talent pools, to retirement
                                                   programs
 Social          Graduate          traineeship/ Bank Mandiri developed Officer Development Pg. 170-178 Sustainability
                 apprenticeship program         Program (ODP) for fresh graduates who will become Report
                                                employees of Bank Mandiri. In addition, there is a
                                                Staff Development Program (SDP), which is a training
                                                program for employees who will be promoted to
                                                leadership and managerial positions in Bank Mandiri.

 Social          Partners with educational         Bank Mandiri collaborates with Educational Institutions Pg. 170-178 Sustainability
                 institutions to develop or        in developing and implementing Leadership Learning Report
                 deliver joint training programs   Modules for employees such as National University
                 for staff                         of Singapore, IMD, IESE, Yale SOM, ESADE, New York
                                                   University, Haas Berkeley, Carnegie Mellon, Virginia
                                                   Darden, and others. Bank Mandiri actively participating
                                                   in programs organized by the Public Service Agency for
                                                   Innovation Management (BLMI) as a speaker.
 Social          Scope of employee stock           Berdasarkan Keputusan RUPS Luar Biasa tanggal 29 Mei Pg. 187 Sustainability Report
                 ownership plan (ESOP) or          2003 sebagaimana tertuang dalam akta Notaris Sutjipto,
                 employee stock purchase           S.H., No. 142 tanggal 29 Mei 2003, pemegang saham
                 plan (ESPP)                       Bank Mandiri juga menyetujui rencana kepemilikan
                                                   saham oleh pegawai dan Direksi melalui Program
                                                   Penjatahan Saham/Employee Stock Allocation (ESA)
                                                   dan Pemberian Opsi Pembelian Saham kepada
                                                   Manajemen/Management Stock Option Plan (MSOP).
                                                   Program ESA terdiri dari program Pemberian Saham
                                                   Bonus (Share Plan Bonus) dan program Penjatahan
                                                   Saham dengan Diskon (Share Purchase at Discount).
                                                   Sedangkan program MSOP ditujukan untuk Direksi
                                                   dan pegawai pimpinan pada tingkatan (grade) atau
                                                   kriteria tertentu.
 Social          Non-salary benefits and work/ Benefits cover all employees both              Permanent Pg. 255 Sustainability Report
                 life balance                  Employees and contractor employees



 Social          Regular           performance Performance overview is an important part of the Human Pg. 181 Sustainability Report
                 appraisals     and   feedback Capital Department’s strategy as it provides an overview
                 processes                     of employee performance and achievements, which
                                               are useful for employee promotion, rotation or demotion.

                                                   Performance Appraisal Feedback Process & Explanation
                                                   Performance      management      at  Bank    Mandiri
                                                   put an emphasis not only on results but also on
                                                   the implementation of culture and leadership
                                                   characteristics on decision making and interactions
                                                   at work, including through the implementation of 360
                                                   degrees survey.
 Social          Job-specific    development 1. Training and certification for employees: CISM Pg. 135, 136, 217
                 training programs           (Certified Information Security Manager), CISSP Sustainability Report
                                             (Certified Information Systems Security Professional),
                                             CRISC (Certified in Risk and Information Systems
                                             Control), ISO 27001 Lead Implementer, ISO 27001 Lead
                                             Auditor, CISA (Certified Information Systems Auditor),
                                             CEH (Certified Ethical Hacker), CHFI (Computer
                                             Hacking Forensic Investigator), as well as training in
                                             the form of product-based knowledge to deepen
                                             their expertise the Bank’s security system products.
                                             2. Training for vendors/contractors: Internal training
                                             for vendor employees which working for operational
                                             support.




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          ESG Aspect                    Key Issues                             Bank Mandiri Response                              Page

       Social                Evidence     of    managerial/ In relation to program implementation, Bank Mandiri Pg. 174-179 Sustainability
                             leadership        development has implemented various leadership programs at Report
                             training                       various levels, from Officers, Team Leaders, Department
                                                            Heads to Group Heads in 2022


       Social                Extent of involvement in In addition to providing financing for MSMEs, Bank Pg. 196-197 Sustainability
                             Microfinance/ Microinsurance Mandiri provides financing for corporations with social Report
                                                          benefits

       Social                Innovation in Mobile / Online Livin’ app designed for retail segment as our digital Pg. 198-202 Sustainability
                             Distribution Channels         transformation. Livin serves as a platform to reach a wide Report
                                                           range of retail customers, particularly in underserved
                                                           population in Indonesia, which is an archipelago nation.
                                                           Customers can register through the Livin app, which is
                                                           equipped with liveness detection and face recognition
                                                           features that are directly connected to the Population
                                                           and Civil Registration agency. Livin also has many other
                                                           features such as smart top-up, cash withdrawal without
                                                           a card, entertainment services, QR, and investments.
       Social                Reach of Points Service Bank Mandiri’s digital services are equipped with Pg. 198-202 Sustainability
                             (Branches, ATMs, Self-Service, various other facilities and equipment to facilitate Report
                             etc.)                          customers, including: 1. 13,027 ATM units connected to
                                                            domestic network via the National Payment Gateway
                                                            (GPN) and international network 2. 5.1 million Merchant
                                                            Quick Response Code Indonesian Standard (QRIS) 3.
                                                            190 thousand Merchant Electronic Data Capture (EDC)
                                                            4. E-Commerce spreading throughout Indonesia 5.
                                                            E-banking SMS network 6. Call Center 14000 7. MITA as a
                                                            chat banking service.
       Social                Innovation         in       Other   Mandiri Branchless Agent are spread throughout Pg. 210-211 Sustainability
                             Alternative           Branchless    Indonesia, particularly in areas with low populations Report
                             Distribution Channels (e.g.         such as in the rural areas. Mandiri Agents also be the
                             correspondents, partnerships        right hand of us to serve underserved population, which
                             with retail stores/post offices)    includes low-income workers, undocumented workers,
                                                                 customers without sufficient collateral, and others. In
                                                                 the reporting year, Bank Mandiri helped the distribution
                                                                 of banking products to all corners of Indonesia and
                                                                 provided total employment opportunities to 130.100
                                                                 Mandiri Agents.
       Social                Scope of company’s publicly Further information regarding the privacy policy and Pg. 146-149 Sustainability
                             available data protection data security (including our subsidiaries) can be Report
                             policy                      accessed through Bank Mandiri and its subsidiaries’
                                                         official website.
       Social                Rights provided to individuals Bank Mandiri ensure customer rights to rectification and
                             regarding the control of their control the personal data can be done in all branches
                             data                           or via call center 14000

       Social                Information Security Policies In the year 2022, an external audit was conducted in Pg. 144 Sustainability Report
                             and Systems audit frequency the domains of security, system resilience, and data
                                                           privacy by highly reputable independent auditors.
                                                           These auditors adhered to industry best practices in
                                                           the conduct of the audit. The audit’s scope comprised
                                                           information security which aligned with the principles
                                                           of confidentiality, integrity, two-factor authentication,
                                                           non-repudiation, and availability, as well as aspects
                                                           of data privacy and fraud management. To ensure a
                                                           continuous level of assurance, the implementation of
                                                           IT audits by external parties is performed on an annual
                                                           basis.
       Social                Company’s executive body Bank Mandiri demonstrates its commitment to ensuring Pg. 133, 141-142
                             responsible for: Privacy and the security of information by actively involving its Board Sustainability Report
                             Data security                of Commissioners and Directors in regular monitoring
                                                          efforts through the use of specialized committees,
                                                          such as the Risk Monitoring Committee, Board Audit
                                                          Committee, and Integrated Governance Committee.
                                                          These committees regularly discuss and review
                                                          important topics related to information security, such as
                                                          the reporting of environmental, social, and governance
                                                          (ESG) initiatives, the implementation of multi-layer
                                                          defense mechanisms, and adherence to group-wide
                                                          security requirements.
       Social                Scope of employee training on Bank Mandiri provides training & certification to develop Pg. 135-136 Sustainability
                             data security and/or privacy- soft skills and hard skills on a regular basis (minimum Report
                             related risks & procedures    once in 1 year) for all employees, both employees and
                                                           vendors/contractors.




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CORPORATE                 ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                   FINANCIAL
GOVERNANCE                & PRACTICES                           RESPONSIBILITY                             STATEMENS 2024




                                                                                                             MSCI INDEX


   ESG Aspect              Key Issues                           Bank Mandiri Response                            Page

Governance      Oversight for Ethics Issues      Establishing a Gratification Control Unit, which Pg. 285 Sustainability Report
                                                 functions as a coordinator of gratification control
                                                 within its Compliance Work Unit, in accordance with
                                                 the regulations stipulated in KEP.DIR/64/2021 on the
                                                 Establishment of Gratification Control Unit. This unit is
                                                 responsible for implementing a gratification reporting
                                                 system, which is directly overseen by the Director of
                                                 Compliance and Human Capital. Additionally, the
                                                 bank is required to provide quarterly reports to the
                                                 Corruption Eradication Commission (KPK) as part of its
                                                 commitment to combat corruption.
Governance      Bribery   and   Anti-Corruption Bank Mandiri has implemented the 4 Pillars of Anti- Pg. 284 Sustainability Report
                Policy                          Fraud Strategy (SAF), namely Prevention; Detection;
                                                Investigation, Reporting, Sanctions, and Legal Process;
                                                Monitoring, Evaluation and Follow Up.
Governance      Regular Audits      of   Ethical Furthermore, Bank Mandiri has established an Audit Pg. 285 Sustainability Report
                Standards                        Team for the Anti-Bribery Management System (SMAP).
                                                 In accordance with Note No. IAU.WCA/CA.242/2022
                                                 from the Anti-Bribery Management System (SMAP)
                                                 Audit Team, dated August 15, 2022, and addressed
                                                 to the relevant group with copies to the Director of
                                                 Compliance and Human Capital, Director of Treasury
                                                 and International Banking, and SEVP Internal Audit.
Governance      Whistleblower Protection         Bank Mandiri’s whistleblowing system is managed Pg. 288-289 Sustainability
                                                 by an independent third-party consultant to ensure Report
                                                 independence        with   the  following   objectives:
                                                 1. Increase stakeholder confidence in themanagement
                                                 of the WBS-LTC; 2. Provide a sense of security for
                                                 whistleblowers; 3. Reduce the possibility of a conflict
                                                 of interest; 4. Ensure Independent and professionalism;
                                                 5. Allow the whistleblower to monitor the status of the
                                                 WBS-LTC report’s follow-up.
Governance      Employee Training on Ethical An audit was conducted in August 2022 to assess Pg. 282, 287 Sustainability
                Standards                    the implementation of the Anti-Bribery Management Report
                                             System (SMAP), which is based on the ISO 37001:2016
                                             Anti-Bribery Management System (SMAP)
Governance      Anti-Corruption     Policy    for An audit was conducted in August 2022 to assess Pg. 286-287 Sustainability
                Suppliers                         the implementation of the Anti-Bribery Management Report
                                                  System (SMAP), which is based on the ISO 37001:2016
                                                  Anti-Bribery Management System (SMAP). This audit of
                                                  the SMAP is conducted periodically
Governance      Policies Related to Anti-Money Amidst the era of globalization and increasingly Pg. 290 Sustainability Report
                Laundering                     complex information technology crossing jurisdictional
                                               boundaries, Bank Mandiri, as a financial institution,
                                               will face the consequences of the possibility of being
                                               exploited by money launderers, terrorism financiers,
                                               and the financing of mass destruction weapons
                                               proliferation. This is due, among other reasons, to the
                                               availability of various transaction options, both in terms
                                               of products and delivery channels, which can be
                                               exploited by criminals to carry out their illegal activities.
                                               In line with this, Bank Mandiri consistently develops
                                               strategic measures to mitigate these risks through the
                                               implementation of a Risk-Based Approach (RBA) of Anti-
                                               Money Laundering, Counter Terrorism Financing, and
                                               Prevention of Financing of Mass Destruction Weapons
                                               Proliferation (AML CTF PFPWMD) program in the Bank’s
                                               operational and business activities.




                                                                                                            ANNUAL REPORT 2023      1053
Page 547
            MAIN                       MANAGEMENT       COMPANY      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS          PROFILE      ANALYSIS




                                     PT BANK MANDIRI (PERSERO) TBK.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
                                     LAPORAN KEUANGAN KONSOLIDASIAN/
                                     CONSOLIDATED FINANCIAL STATEMENTS

                                     31 DESEMBER 2023 DAN 2022/
                                     31 DECEMBER 2023 AND 2022




1054 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1055
Page 549
            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1056 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1057
Page 551
            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1058 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1059
Page 553
            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1060 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1061
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            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1062 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1063
Page 557
            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1064 PT Bank Mandiri (Persero) Tbk
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CORPORATE    ESG COMMITMENTS   SOCIAL AND ENVIRONMENTAL   LAPORAN
                                                            Financial
GOVERNANCE   & PRACTICES       RESPONSIBILITY             KEUANGAN   2023
                                                            Statements 2023




                                                           ANNUAL REPORT 2023   1065
Page 559
            MAIN                     MANAGEMENT   COMPANY   MANAGEMENT DISCUSSION &
            HIGHLIGHTS               REPORTS      PROFILE   ANALYSIS




1066 PT Bank Mandiri (Persero) Tbk
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   CORPORATE               ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL        LAPORAN
                                                                                             Financial
   GOVERNANCE              & PRACTICES                     RESPONSIBILITY                  KEUANGAN   2023
                                                                                             Statements 2023




                                   PT BANK MANDIRI (PERSERO) Tbk.
                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN                                 CONSOLIDATED FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                               31 DECEMBER 2023 AND 2022



                                                 Daftar Isi/
                                             Table of Contents

                                                                                          Halaman/Pages


Laporan Posisi Keuangan Konsolidasian/
Consolidated Statements of Financial Position                                                          1-8

Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian/
Consolidated Statements of Profit or Loss and Other Comprehensive Income                             9 - 11

Laporan Perubahan Ekuitas Konsolidasian/
Consolidated Statements of Changes in Equity                                                        12 - 13

Laporan Arus Kas Konsolidasian/
Consolidated Statements of Cash Flows                                                               14 - 17

Catatan Atas Laporan Keuangan Konsolidasian/
Notes to the Consolidated Financial Statements                                                    18 - 431

Informasi Keuangan Entitas Induk/
Parent Entity Financial Information

     Laporan Posisi Keuangan Entitas Induk/
     Statements of Financial Position - Parent Entity                                 Lampiran/Appendix 1

     Laporan Laba Rugi dan Penghasilan Komprehensif Lain Entitas Induk/
     Statements of Profit or Loss and Other Comprehensive
       Income - Parent Entity                                                         Lampiran/Appendix 2

     Laporan Perubahan Ekuitas Entitas Induk/
     Statements of Changes in Equity - Parent Entity                                  Lampiran/Appendix 3

     Laporan Arus Kas Entitas Induk/
     Statements of Cash Flows - Parent Entity                                         Lampiran/Appendix 4




                                             ************************




                                                                                            ANNUAL REPORT 2023   1067
Page 561
            MAIN                          MANAGEMENT                        COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                           PROFILE                              ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
            LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
            KONSOLIDASIAN                                                                                             FINANCIAL POSITION
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                  2022

            ASET                                                                                                                          ASSETS
            Kas                                  2c,2g,62.B.(vii)           26.431.740           27.212.759                                   Cash
                                                                                                                           Current accounts with
            Giro pada Bank Indonesia               2c,2g,2h,4           108.605.322             107.349.158                   Bank Indonesia
                                                                                                                           Current accounts with
            Giro pada bank lain                   2c,2f,2g,2h,5                                                                   other banks
              Pihak berelasi                            56                     461.097              110.733                    Related parties
              Pihak ketiga                                                  36.144.993           47.699.252                      Third parties
                                                                            36.606.090           47.809.985
              Dikurangi: cadangan                                                                                          Less: allowance for
                kerugian penurunan nilai                                         (32.205)             (20.285)            impairment losses
              Neto                                                          36.573.885           47.789.700                                  Net
            Penempatan pada                                                                                                      Placements with
              Bank Indonesia                                                                                                    Bank Indonesia
              dan bank lain                         2c,2f,2i,6                                                                 and other banks
              Pihak berelasi                           56                    2.049.472            3.080.128                     Related parties
              Pihak ketiga                                                  71.838.685           92.243.984                       Third parties
                                                                            73.888.157           95.324.112
              Dikurangi: cadangan                                                                                          Less: allowance for
                kerugian penurunan nilai                                           (957)               (3.601)            impairment losses
              Neto                                                          73.887.200           95.320.511                                  Net
            Efek-efek                               2c,2f,2j,7                                                              Marketable securities
              Pihak berelasi                           56                   23.774.139           27.290.577                    Related parties
              Pihak ketiga                                                  70.807.983           55.530.149                      Third parties
                                                                            94.582.122           82.820.726
              Ditambah/(dikurangi):                                                                                                  Add/(less):
                premi yang belum                                                                                                unamortised
                diamortisasi, keuntungan/                                                                                          premiums,
                (kerugian) - neto yang                                                                                      unrealised gains/
                belum direalisasi dari                                                                                    (losses) - net from
                kenaikan/(penurunan)                                                                                    increase/(decrease)
                nilai wajar dan                                                                                                  in fair value
                cadangan kerugian                                                                                          and allowance for
                penurunan nilai                                                  (36.281)             (20.908)            impairment losses
              Neto                                                          94.545.841           82.799.818                                  Net
            Obligasi pemerintah                                                                                               Government bonds
             Pihak berelasi                       2c,2f,2k,8,56         309.182.971             329.211.764                    Related parties
            Tagihan lainnya - transaksi                                                                                 Other receivables - trade
              perdagangan                           2c,2f,2l,9                                                                    transactions
              Pihak berelasi                           56                    7.581.513           15.157.619                    Related parties
              Pihak ketiga                                                  18.463.040           18.635.645                      Third parties
                                                                            26.044.553           33.793.264
              Dikurangi: cadangan kerugian                                                                                 Less: allowance for
                penurunan nilai                                             (1.494.653)           (1.604.705)             impairment losses

              Neto                                                          24.549.900           32.188.559                                  Net




            Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan            form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                       taken as a whole.

                                                                             1
1068 PT Bank Mandiri (Persero) Tbk
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     CORPORATE                   ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                     Financial
     GOVERNANCE                  & PRACTICES                          RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                     Statements 2023



                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN                                                                     CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                              FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                    2022

ASET (lanjutan)                                                                                                   ASSETS (continued)
Tagihan atas efek-efek yang dibeli                                                                         Securities purchased under
  dengan janji dijual kembali          2c,2f,2m,10                                                             agreements to resell
  Pihak ketiga                                                  22.692.928             11.705.989                       Third parties
Tagihan derivatif                      2c,2f,2n,11                                                               Derivative receivables
  Pihak berelasi                           56                      198.156                 110.208                   Related parties
  Pihak ketiga                                                   1.796.775               2.141.933                     Third parties
  Total                                                          1.994.931               2.252.141                                Total
Kredit yang diberikan dan                                                                                             Loans and sharia
  piutang/pembiayaan syariah           2c,2f,2o,12                                                             receivables/ financing
  Pihak berelasi                           56                238.081.020              199.385.546                    Related parties
  Pihak ketiga                                             1.121.751.175              973.214.336                       Third parties
                                                           1.359.832.195            1.172.599.882
  Dikurangi: cadangan                                                                                            Less: allowance for
    kerugian penurunan nilai                                    (53.098.619)           (64.612.645)             impairment losses
  Neto                                                     1.306.733.576            1.107.987.237                                  Net
Piutang pembiayaan                                                                                                  Consumer financing
  konsumen                             2c,2f,2p,13                                                                       receivables
  Pihak berelasi                           56                       11.542                  7.846                    Related parties
  Pihak ketiga                                                  32.738.254             23.749.881                       Third parties
                                                                32.749.796             23.757.727
  Dikurangi: cadangan                                                                                            Less: allowance for
    kerugian penurunan nilai                                      (713.044)               (610.361)            impairment losses
  Neto                                                          32.036.752             23.147.366                                  Net
Investasi bersih dalam                                                                                          Net investment finance
  sewa pembiayaan                       2c,2q,14                                                                              leases
  Pihak ketiga                                                   5.489.242               5.872.560                      Third parties
  Dikurangi: cadangan                                                                                            Less: allowance for
    kerugian penurunan nilai                                          (70.170)            (139.173)             impairment losses
  Neto                                                           5.419.072               5.733.387                                 Net
Tagihan akseptasi                      2c,2f,2u,15                                                             Acceptance receivables
  Pihak berelasi                           56                    2.250.427               1.897.509                  Related parties
  Pihak ketiga                                                  12.543.461               9.884.072                    Third parties
                                                                14.793.888             11.781.581
  Dikurangi: cadangan                                                                                            Less: allowance for
    kerugian penurunan nilai                                      (122.212)                 (61.963)            impairment losses
  Neto                                                          14.671.676             11.719.618                                  Net

Penyertaan saham                         2f,2s,16                                                                Investments in shares
  Pihak berelasi                            56                      652.420              1.775.847                   Related parties
  Pihak ketiga                                                    1.209.067                981.747                      Third parties

                                                                 1.861.487               2.757.594
  Dikurangi: cadangan kerugian                                                                                   Less: allowance for
    penurunan nilai                                                   (34.123)              (68.640)            impairment losses

  Neto                                                           1.827.364               2.688.954                                 Net



Catatan atas laporan keuangan konsolidasian terlampir                    The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan              form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                         taken as a whole.

                                                                  2
                                                                                                                    ANNUAL REPORT 2023        1069
Page 563
            MAIN                        MANAGEMENT                           COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                              ANALYSIS




                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            LAPORAN POSISI KEUANGAN                                                                     CONSOLIDATED STATEMENTS OF
            KONSOLIDASIAN                                                                                              FINANCIAL POSITION
            31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                    2022

            ASET (lanjutan)                                                                                                   ASSETS (continued)

            Biaya dibayar dimuka                       17                    2.719.789               1.895.503                   Prepaid expenses

            Pajak dibayar dimuka                    2ad,33a                       436.532            1.164.925                        Prepaid taxes

            Aset tetap                             2r.i,2r.ii,18            82.315.031             77.969.898                         Fixed assets
              Dikurangi: akumulasi                                                                                            Less: accumulated
                penyusutan                                                  (24.337.324)           (21.429.332)                   depreciation

              Neto                                                          57.977.707             56.540.566                                  Net


            Aset takberwujud                         2r.iii,19              13.669.071             11.712.040                    Intangible assets
              Dikurangi: akumulasi                                                                                            Less: accumulated
                amortisasi                                                   (7.794.473)            (6.618.431)                   amortisation

              Neto                                                           5.874.598               5.093.609                                 Net


            Aset lain-lain                       2c,2t,2v,2af,20            39.474.741             30.444.061                        Other assets
              Dikurangi: penyisihan                                                                                    Less: allowance for other
                lainnya                                                      (1.596.320)           (1.746.417)             impairment losses

              Neto                                                          37.878.421             28.697.644                                  Net


            Aset pajak tangguhan - neto             2ad,33e                 10.179.244             12.045.479             Deferred tax assets - net

            TOTAL ASET                                                 2.174.219.449            1.992.544.687                     TOTAL ASSETS




            Catatan atas laporan keuangan konsolidasian terlampir                    The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan              form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                         taken as a whole.

                                                                              3
1070 PT Bank Mandiri (Persero) Tbk
Page 564
     CORPORATE                   ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                   Financial
     GOVERNANCE                  & PRACTICES                         RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                   Statements 2023



                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                             FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                  2022

LIABILITAS, DANA                                                                                       LIABILITIES, TEMPORARY
  SYIRKAH TEMPORER                                                                                            SYIRKAH FUNDS
  DAN EKUITAS                                                                                                     AND EQUITY

LIABILITAS                                                                                                               LIABILITIES

                                                                                                                      Obligations due
Liabilitas segera                          2w                    4.484.956             4.056.029                       immediately

Simpanan nasabah                                                                                            Deposits from customers
                                                                                                                Demand deposits
  Giro dan                                                                                                          and wadiah
    giro wadiah                        2c,2f,2x,21                                                            demand deposits
    Pihak berelasi                         56               166.637.832             157.247.418                 Related parties
    Pihak ketiga                                            385.721.324             361.830.544                    Third parties

    Total                                                   552.359.156             519.077.962                              Total

  Tabungan dan                                                                                                Saving deposits and
    tabungan                           2c,2f,2x,22                                                               wadiah saving
    wadiah                                                                                                             deposits
    Pihak berelasi                         56                 7.540.541               6.850.898                 Related parties
    Pihak ketiga                                            501.750.948             473.631.868                    Third parties

    Total                                                   509.291.489             480.482.766                              Total

  Deposito berjangka                   2c,2f,2x,23                                                                   Time deposits
    Pihak berelasi                         56                34.852.981              30.665.985                   Related parties
    Pihak ketiga                                            254.944.523             265.349.216                     Third parties

    Total                                                   289.797.504             296.015.201                              Total


  Total simpanan                                                                                                Total deposits from
    nasabah                                                1.351.448.149          1.295.575.929                        customers

Simpanan dari                                                                                                       Deposits from
  bank lain                                                                                                          other banks
  Giro,                                                                                                 Demand deposits, wadiah
    giro wadiah dan                                                                                         demand deposits
    tabungan                           2c,2f,2y,24                                                        and saving deposits
    Pihak berelasi                         56                      183.333               174.243              Related parties
    Pihak ketiga                                                 6.510.250             5.560.158                 Third parties

    Total                                                        6.693.583             5.734.401                             Total

  Inter-bank call money                 2c,2y,25                                                              Interbank call money
     Pihak berelasi                                                100.000                     -                  Related parties
     Pihak ketiga                                                7.181.896             4.436.101                    Third parties

    Total                                                        7.281.896             4.436.101                             Total

  Deposito berjangka                   2c,2f,2y,26                                                                   Time deposits
    Pihak berelasi                         56                      384.925               467.025                  Related parties
    Pihak ketiga                                                 3.324.376             4.209.882                    Third parties

    Total                                                        3.709.301             4.676.907                             Total


  Total simpanan dari                                                                                           Total deposits from
    bank lain                                                   17.684.780           14.847.409                      other banks

Liabilitas kepada pemegang polis                                                                                 Liabilities to unit-link
  pada kontrak unit-link                  2z,27                 29.194.702           29.710.227                       policyholders

Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan            form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                       taken as a whole.

                                                                 4
                                                                                                                  ANNUAL REPORT 2023        1071
Page 565
            MAIN                         MANAGEMENT                         COMPANY                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                               ANALYSIS




                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
            KONSOLIDASIAN                                                                                             FINANCIAL POSITION
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                   2022

            LIABILITAS, DANA                                                                                         LIABILITIES, TEMPORARY
              SYIRKAH TEMPORER                                                                                              SYIRKAH FUNDS
              DAN EKUITAS (lanjutan)                                                                                 AND EQUITY (continued)

            LIABILITAS (lanjutan)                                                                                        LIABILITIES (continued)
            Liabilitas atas efek-efek yang                                                                                        Securities sold
              dijual dengan janji                                                                                            under agreements
              dibeli kembali                        2c,2m,28                                                            to repurchase liabilities
              Pihak ketiga                             65                   36.330.064            24.325.475                      Third parties
            Liabilitas derivatif                   2c,2f,2n,11                                                                 Derivative payables
              Pihak berelasi                           56                       76.404                 86.933                   Related parties
              Pihak ketiga                                                   2.037.449              2.039.836                      Third parties
              Total                                                          2.113.853              2.126.769                                Total
            Liabilitas akseptasi                   2c,2f,2u,29                                                               Acceptance payables
              Pihak berelasi                           57                    2.614.261             1.750.123                    Related parties
              Pihak ketiga                                                  12.179.627            10.031.458                      Third parties
              Total                                                         14.793.888            11.781.581                                 Total
            Efek-efek yang diterbitkan              2c,2f,2aa                                                               Debt securities issued
              Pihak berelasi                        30,56,65                 5.091.435             5.603.550                   Related parties
              Pihak ketiga                                                  45.504.621            40.244.057                      Third parties
                                                                            50.596.056            45.847.607
              Dikurangi: biaya penerbitan                                                                                    Less: unamortised
                yang belum diamortisasi                                          (78.292)              (73.468)            debt issuance cost
              Neto                                                          50.517.764            45.774.139                                  Net
            Estimasi kerugian atas                                                                                            Estimated losses on
              komitmen dan                                                                                                    commitments and
              kontinjensi                             2c,31c                 1.143.758              2.073.429                     contingencies
            Beban yang masih harus dibayar          2c,2af,32                4.799.446              6.493.794                   Accrued expenses
            Utang pajak                             2ad,33b                  2.690.902              3.590.522                        Taxes payable
                                                                                                                                 Employee benefit
            Liabilitas imbalan kerja                2ai,34,51               11.894.629            12.607.759                          liabilities
            Provisi                                    63b                       286.081              323.365                              Provision
            Liabilitas lain-lain                      2c,35                 37.399.213            27.336.753                        Other liabilities
            Pinjaman yang diterima                2c,2f,2ab,36                                                                    Fund borrowings
              Pihak berelasi                         56,65                   1.765.624             2.210.704                     Related parties
              Pihak ketiga                                                  93.679.835            60.629.414                       Third parties
              Total                                                         95.445.459            62.840.118                                 Total




            Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                             5
1072 PT Bank Mandiri (Persero) Tbk
Page 566
     CORPORATE                   ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                    Financial
     GOVERNANCE                  & PRACTICES                         RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                    Statements 2023



                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                             FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                   2022

LIABILITAS, DANA                                                                                        LIABILITIES, TEMPORARY
  SYIRKAH TEMPORER                                                                                             SYIRKAH FUNDS
  DAN EKUITAS (lanjutan)                                                                                AND EQUITY (continued)

LIABILITAS (lanjutan)                                                                                        LIABILITIES (continued)
Pinjaman dan efek-efek                                                                                        Subordinated loans and
  subordinasi                            2c,2f,2ac                                                            marketable securities
  Pihak berelasi                         37,56,65                     10.000               87.000                  Related parties
  Pihak ketiga                                                       205.735              546.564                     Third parties
                                                                     215.735              633.564
  Dikurangi: biaya penerbitan                                                                                    Less: unamortised
    yang belum diamortisasi                                             (564)                 (231)                issuance cost
  Neto                                                               215.171              633.333                                 Net

TOTAL LIABILITAS                                           1.660.442.815           1.544.096.631                 TOTAL LIABILITIES


DANA SYIRKAH                                                                                                TEMPORARY SYIRKAH
 TEMPORER                                2f,2ae,38                                                                    FUNDS
Simpanan nasabah                                                                                              Deposits from customers
  Pihak berelasi                            56                                                                         Related parties
  Giro - investasi terikat                                                                                         Demand deposits
    dan giro                                                                                               - restricted investment
    mudharabah -                                                                                                 and mudharabah
    investasi                                                                                                         - unrestricted
    tidak terikat                          38a.1                17.574.469            13.702.232                         investment
  Tabungan - investasi                                                                                               Saving deposits
    terikat dan                                                                                            - restricted investment
    investasi                                                                                                     and unrestricted
    tidak terikat -                                                                                                      investment
    mudharabah                            38a.2a                     191.661               86.070                    - mudharabah
  Deposito mudharabah -                                                                                            Mudharabah time
    investasi                                                                                              deposits - unrestricted
    tidak terikat                         38a.3                 27.906.491            17.857.676                         investment
                                                                45.672.621            31.645.978
  Pihak ketiga                                                                                                           Third parties
  Giro - investasi terikat                                                                                         Demand deposits
    dan giro                                                                                             - restricted investments
    mudharabah                                                                                                   and mudharabah
    musytarakah                           38a.1                 14.779.396              9.020.856                     musytarakah
  Tabungan - investasi                                                                                                Saving deposits
    terikat dan                                                                                            - restricted investment
    investasi tidak                                                                                              and - unrestricted
    terikat -                                                                                                           investment
    mudharabah                            38a.2a                77.508.409            72.183.636                     - mudharabah
  Deposito mudharabah -                                                                                              Mudharabah time
    investasi                                                                                               deposits -unrestricted
    tidak terikat                         38a.3                 87.541.044            82.418.193                        investment
                                                            179.828.849              163.622.685
  Total simpanan                                                                                                 Total deposits from
    nasabah                                                 225.501.470              195.268.663                       customers




Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                 6
                                                                                                                   ANNUAL REPORT 2023        1073
Page 567
            MAIN                        MANAGEMENT                          COMPANY                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                               ANALYSIS



                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
            KONSOLIDASIAN                                                                                             FINANCIAL POSITION
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                   2022

            LIABILITAS, DANA                                                                                         LIABILITIES, TEMPORARY
              SYIRKAH TEMPORER                                                                                              SYIRKAH FUNDS
              DAN EKUITAS (lanjutan)                                                                                 AND EQUITY (continued)
            DANA SYIRKAH                                                                                                TEMPORARY SYIRKAH
             TEMPORER (lanjutan)                                                                                          FUNDS (continued)
            Simpanan dari bank lain                                                                                    Deposits from other banks
              Pihak ketiga                                                                                                          Third parties
              Giro mudharabah -                                                                                          Mudharabah demand
                investasi                                                                                              deposits - unrestricted
                tidak terikat                          38b                        63.394                31.880                     investment
              Tabungan mudharabah -                                                                                        Mudharabah saving
                investasi                                                                                              deposits - unrestricted
                tidak terikat                          38b                       580.115              627.646                      investment
              Deposito mudharabah -                                                                                          Mudharabah time
                investasi                                                                                              deposits - unrestricted
                tidak terikat                          38b                       136.693              274.412                      investment

              Total simpanan dari                                                                                            Total deposits from
                bank lain                                                        780.202              933.938                     other banks
            TOTAL DANA SYIRKAH                                                                                             TOTAL TEMPORARY
              TEMPORER                                                  226.281.672              196.202.601                SYIRKAH FUNDS

            EKUITAS                                                                                                                        EQUITY

            Ekuitas yang dapat diatribusikan                                                                              Attributable equity to
              Kepada pemilik Entitas Induk                                                                                  the Parent Entity
            Modal saham - nilai nominal                                                                                  Share capital - Rp125
              Rp125 dan Rp250 (nilai penuh)                                                                         and Rp250 (full amount)
              per lembar saham masing-masing                                                                             par value per share
              pada tanggal 31 Desember 2023                                                                        as of 31 December 2023
              dan 2022                                                                                                              and 2022
              Modal dasar - 1 lembar Saham                                                                                Authorised capital-
                Seri A Dwiwarna dan                                                                                  1 Dwiwarna Series A
                127.999.999.999 lembar                                                                                           share and
                saham biasa Seri B                                                                              127,999,999,999 Series B
                pada tanggal                                                                                        common shares as of
                31 Desember 2023                                                                                       31 December 2023
                dan 1 lembar saham                                                                                        and 1 Dwiwarna
                Seri A Dwiwarna dan                                                                                    Series A share and
                63.999.999.999 lembar                                                                            63,999,999,999 Series B
                saham biasa Seri B pada                                                                              common share as of
                tanggal 31 Desember 2022                                                                               31 December 2022
              Modal ditempatkan dan disetor -                                                                 Issued and fully paid-in capital
                1 lembar Saham Seri A                                                                                1 Dwiwarna Series A
                Dwiwarna dan 93.333.333.331                                                                                      share and
                lembar Saham Biasa                                                                               93,333,333,331 Series B
                Seri B pada tanggal                                                                                 common shares as of
                31 Desember 2023                                                                                       31 December 2023
                dan 1 lembar saham                                                                                        and 1 Dwiwarna
                Seri A Dwiwarna dan                                                                                    Series A share and
                46.666.666.665 lembar                                                                            46,666,666,665 Series B
                saham biasa Seri B pada                                                                             common shares as of
                tanggal 31 Desember 2022               40a                  11.666.667             11.666.667          31 December 2022
            Tambahan modal disetor/                                                                                     Additional paid-in capital/
              agio saham                               40b                  17.643.264             17.643.264                               agio
            Selisih kurs karena                                                                                           Differences arising from
              penjabaran laporan                                                                                                   translation of
              keuangan dalam                                                                                             financial statements in
              mata uang asing                          2e                     (146.299)                (60.427)               foreign currencies




            Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                             7
1074 PT Bank Mandiri (Persero) Tbk
Page 568
     CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                   Financial
     GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                   Statements 2023



                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN                                                                    CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                             FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                  2022

LIABILITAS, DANA                                                                                       LIABILITIES, TEMPORARY
  SYIRKAH TEMPORER                                                                                            SYIRKAH FUNDS
  DAN EKUITAS (lanjutan)                                                                               AND EQUITY (continued)
EKUITAS (lanjutan)                                                                                               EQUITY (continued)
Kerugian neto yang belum
  direalisasi dari penurunan                                                                                Net unrealised loss from
  nilai wajar aset keuangan                                                                                  decrease in fair value
  dalam kelompok                                                                                                 of financial assets
  nilai wajar                                                                                               classified as fair value
  melalui penghasilan                                                                                                  through other
  komprehensif lain setelah                                                                                comprehensive income
  dikurangi pajak tangguhan               2j,2k                 (1.837.760)          (2.768.553)               - net of deferred tax
Bagian efektif lindung nilai                                                                                       Effective portion of
  arus kas                                 2n                          1.429              (3.156)                 cash flow hedges
Selisih bersih revaluasi                                                                                       Net differences in fixed
  aset tetap                               2r.i                 34.716.693           34.716.693                 assets revaluation
Keuntungan neto aktuarial                                                                                      Net actuarial gain from
  program imbalan pasti                                                                                            defined benefits
  setelah dikurangi                                                                                               program - net of
  pajak tangguhan                          2ai                   1.517.183             1.510.016                       deferred tax
Penghasilan komprehensif                                                                                        Other comprehensive
  lainnya                                                            85.052               85.052                          income
                                                                                                            Difference in transactions
Selisih transaksi dengan                                                                                     with non - controlling
  pihak nonpengendali                      1g                        (97.202)            (97.202)                            parties
Saldo laba (saldo rugi sebesar                                                                  Retained earnings (accumulated
  Rp162.874.901 telah                                                                               losses of Rp162,874,901
  dieliminasi dengan tambahan                                                                         were eliminated against
  modal disetor/agio saham                                                                          additional paid-in capital/
  pada saat kuasi -                                                                                  agio as a result of quasi-
  reorganisasi pada                                                                                             reorganisation
  tanggal 30 April 2003)                                                                                    on 30 April 2003)
    Sudah ditentukan penggunaannya                            5.380.268               5.380.268               Appropriated
    Belum ditentukan penggunaannya                          191.923.489             161.606.164             Unappropriated
  Total saldo laba                                          197.303.757             166.986.432            Total retained earnings
                                                            260.852.784             229.678.786
Kepentingan nonpengendali                                                                                 Non-controlling interests in
  atas aset bersih Entitas Anak                                                                         net assets of consolidated
  yang dikonsolidasi                      2d,39                 26.642.178           22.566.669                       Subsidiaries
JUMLAH EKUITAS                                              287.494.962             252.245.455                       TOTAL EQUITY

                                                                                                                TOTAL LIABILITIES,
JUMLAH LIABILITAS, DANA                                                                                            TEMPORARY
  SYIRKAH TEMPORER                                                                                              SYIRKAH FUNDS
  DAN EKUITAS                                              2.174.219.449          1.992.544.687                     AND EQUITY




Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan            form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                       taken as a whole.

                                                                 8
                                                                                                                  ANNUAL REPORT 2023        1075
Page 569
            MAIN                          MANAGEMENT                         COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                            PROFILE                              ANALYSIS



                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
            LAPORAN LABA RUGI DAN PENGHASILAN                                                           CONSOLIDATED STATEMENTS OF
            KOMPREHENSIF LAIN KONSOLIDASIAN                                                                           PROFIT OR LOSS AND
            UNTUK TAHUN-TAHUN YANG BERAKHIR                                                             OTHER COMPREHENSIVE INCOME
            PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                FOR THE YEARS ENDED 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                   2023                   2022

            PENDAPATAN DAN BEBAN                                                                                         INCOME AND EXPENSE
             OPERASIONAL                                                                                                  FROM OPERATIONS
            Pendapatan bunga dan                                                                                                Interest income and
              pendapatan syariah                   2f,2af,41,56                                                                     sharia income
              Pendapatan bunga                                          113.747.621                95.943.875                     Interest income
              Pendapatan syariah                                         18.796.849                16.438.243                      Sharia income

            Total pendapatan bunga dan                                                                                    Total interest income and
              pendapatan syariah                                        132.544.470               112.382.118                       sharia income

            Beban bunga dan                                                                                                   Interest expense and
              beban syariah                        2f,2af,42,56                                                                   sharia expense
              Beban bunga                                                   (30.664.728)           (20.446.595)                 Interest expense
              Beban syariah                                                  (5.993.168)            (4.032.169)                  Sharia expense

            Total beban bunga dan                                                                                       Total interest expense and
              beban syariah                                                 (36.657.896)           (24.478.764)                   sharia expense
            PENDAPATAN BUNGA                                                                                                  NET INTEREST AND
              DAN SYARIAH - NETO                                            95.886.574             87.903.354                  SHARIA INCOME

            Pendapatan premi                            2ag                  13.721.691             14.380.273                     Premium income
            Beban klaim                                 2ag                 (11.598.645)           (11.912.575)                      Claim expense

            PENDAPATAN PREMI - NETO                                          2.123.046               2.467.698           NET PREMIUM INCOME
            PENDAPATAN BUNGA,                                                                                                   NET INTEREST,
             SYARIAH DAN                                                                                                        SHARIA AND
             PREMI - NETO                                                   98.009.620             90.371.052               PREMIUM INCOME
            Pendapatan operasional lainnya                                                                                  Other operating income
              Provisi dan komisi                     2ah,43                 20.148.410             18.802.148            Fees and commissions
              Pendapatan dari kelompok                                                                                    Income from fair value
                nilai wajar melalui                                                                                      through profit or loss
                laba rugi - neto                   2c,2e,2n,44               3.473.796              3.494.409               classification - net
              Lain-lain                                45                   16.900.640             11.984.146                              Others

            Total pendapatan                                                                                                   Total other operating
              operasional lainnya                                           40.522.846             34.280.703                             income
            Pembentukan cadangan kerugian                                                                                 Allowance for impairment
              penurunan nilai                          2c,46                (11.152.853)           (16.096.382)                           losses
            Pembalikan penyisihan                                                                                         Reversal of allowance for
              estimasi kerugian                                                                                                estimated losses
              atas komitmen dan                                                                                               commitments and
              kontinjensi                              2c,31c                     918.531              255.268                    contingencies
            Pembalikan/(pembentukan)                                                                                      Reversal/(allowance) for
              penyisihan lainnya                                                                                        other impairment losses
              dan kerugian                                                                                                      and operational
              risiko operasional - neto                2t,47                       85.615             (282.073)                 risk losses - net

            Keuntungan dari penjualan                                                                                             Gain on sale of
              efek-efek dan obligasi                                                                                  marketable securities and
              pemerintah - neto                      2j,2k,48                     125.295              899.579         government bonds - net




            Catatan atas laporan keuangan konsolidasian terlampir                    The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan              form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                         taken as a whole.

                                                                              9
1076 PT Bank Mandiri (Persero) Tbk
Page 570
     CORPORATE                   ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                    Financial
     GOVERNANCE                  & PRACTICES                          RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                    Statements 2023




                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN                                                           CONSOLIDATED STATEMENTS OF
KOMPREHENSIF LAIN KONSOLIDASIAN                                                                           PROFIT OR LOSS AND
UNTUK TAHUN-TAHUN YANG BERAKHIR                                                             OTHER COMPREHENSIVE INCOME
PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                FOR THE YEARS ENDED 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                   2022

Beban operasional lainnya                2f,2ai,                                                          Other operating expenses
                                                                                                           Salaries and employee
  Beban gaji dan tunjangan              49,51,56                (24.423.089)          (24.641.746)           benefits expenses
  Beban umum dan                                                                                                      General and
    administrasi                          2r,50                 (22.732.894)          (22.102.552)      administrative expenses
  Lain-lain                                52                    (6.711.508)           (6.515.760)                         Others

Total beban operasional                                                                                          Total other operating
  lainnya                                                       (53.867.491)          (53.260.058)                        expenses

                                                                                                                       INCOME FROM
LABA OPERASIONAL                                                74.641.563             56.168.089                       OPERATION

Pendapatan/(beban) bukan                                                                                       Non operating income/
  operasional - neto                       53                         43.318              209.637                  (expense) - net

LABA SEBELUM BEBAN                                                                                                 INCOME BEFORE
  PAJAK                                                         74.684.881             56.377.726                   TAX EXPENSE

Beban pajak                                                                                                               Tax expense
  Kini                                2ad,33c,33d               (12.907.674)          (11.897.334)                           Current
  Tangguhan                           2ad,33c,33e                (1.725.337)              471.976                           Deferred

Total beban pajak - neto                                        (14.633.011)          (11.425.358)             Total tax expense - net

LABA TAHUN                                                                                                            NET INCOME
  BERJALAN                                                      60.051.870             44.952.368                  FOR THE YEAR




Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                 10
                                                                                                                   ANNUAL REPORT 2023        1077
Page 571
            MAIN                            MANAGEMENT                             COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                                PROFILE                              ANALYSIS




                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
            LAPORAN LABA RUGI DAN PENGHASILAN                                                                 CONSOLIDATED STATEMENTS OF
            KOMPREHENSIF LAIN KONSOLIDASIAN                                                                                 PROFIT OR LOSS AND
            UNTUK TAHUN-TAHUN YANG BERAKHIR                                                                   OTHER COMPREHENSIVE INCOME
            PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                      FOR THE YEARS ENDED 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in millions of Rupiah, unless otherwise stated)
                                                        Catatan/
                                                         Notes                     2023                  2022

            PENGHASILAN KOMPREHENSIF                                                                                         OTHER COMPREHENSIVE
              LAIN                                                                                                                             INCOME
            Pos-pos yang tidak akan                                                                                               Items that will not be
              direklasifikasi                                                                                                          reclassified to
              ke laba rugi                                                                                                               profit or loss
              Keuntungan revaluasi                                                                                                Gain on fixed assets
                aset tetap                                  2r.i                              -           4.574.057                      revaluation
                                                                                                                                   Actuarial (loss)/gain
              (Kerugian)/keuntungan aktuarial                                                                                          from defined
                program imbalan pasti                       2ai                         (14.912)             444.272               benefits program
              Pajak penghasilan                                                                                                  Income tax related to
                terkait pos-pos yang tidak                                                                                     items that will not be
                akan direklasifikasi                                                                                                  reclassified to
                ke laba rugi                                                               (139)            (89.286)                    profit or loss
                                                                                        (15.051)          4.929.043
            Pos-pos yang akan                                                                                                            Items that will be
              direklasifikasi                                                                                                              reclassified to
              ke laba rugi                                                                                                                   profit or loss
              Penyesuaian akibat                                                                                                 Difference arising from
                penjabaran laporan                                                                                             translation of financial
                keuangan dalam                                                                                                  statements in foreign
                mata uang asing                             2e                          (86.953)              36.152                          currencies
                                                                                                                                Changes in fair value of
              Perubahan nilai wajar aset                                                                                               financial assets
                keuangan dalam                                                                                                 classified as fair value
                kelompok nilai wajar                                                                                                      through other
                melalui penghasilan                                                                                                    comprehensive
                komprehensif lain                          2j,2k                    1.125.822            (5.631.137)                              income
              Bagian efektif dari lindung nilai                                                                                      Effective portion of
                arus kas                                    2n                          23.030                (7.002)               cash flow hedges
              Pajak penghasilan terkait                                                                                           Income tax related to
                pos-pos yang akan                                                                                                    items that will be
                direklasifikasi                                                                                                          reclassified to
                ke laba rugi                                                         (140.759)            1.067.118                         profit or loss
                                                                                     921.140             (4.534.869)
            Penghasilan komprehensif lain                                                                                          Other comprehensive
              tahun berjalan -                                                                                                    income for the year
              setelah pajak penghasilan                                              906.089                 394.174               - net of income tax
            TOTAL                                                                                                                              TOTAL
             PENGHASILAN                                                                                                            COMPREHENSIVE
              KOMPREHENSIF                                                                                                                  INCOME
              TAHUN BERJALAN                                                       60.957.959            45.346.542                   FOR THE YEAR
            Laba tahun berjalan yang                                                                                                 Net income for the
              diatribusikan kepada:                                                                                              year attributable to:
              Pemilik Entitas Induk                                                55.060.057            41.170.637                       Parent Entity
              Kepentingan nonpengendali                     2d                      4.991.813             3.781.731             Non-controlling interest
                                                                                   60.051.870            44.952.368
            Total penghasilan komprehensif                                                                                         Total comprehensive
              tahun berjalan yang                                                                                                 income for the year
              diatribusikan kepada:                                                                                                    attributable to:
              Pemilik Entitas Induk                                                55.916.730            41.604.619                       Parent Entity
              Kepentingan nonpengendali                     2d                      5.041.229             3.741.923             Non-controlling interest
                                                                                   60.957.959            45.346.542

            LABA PER SAHAM                                  2aj                                                                 EARNINGS PER SHARE
              Dasar dan dilusian (dalam                                                                                          Basic and diluted (full
                Rupiah penuh)                                                           589,93                441,26              amount of Rupiah)
            *) Laba per saham untuk tahun yang berakhir pada tanggal 31 Desember     Earnings per share for the year ended 31 December 2022 is restated *)
               2022 disajikan kembali sehubungan dengan pemecahan nilai saham                                     in connection with the share split (Note 2aj).
               (Catatan 2aj).




            Catatan atas laporan keuangan konsolidasian terlampir                         The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan                   form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                              taken as a whole.

                                                                                   11
1078 PT Bank Mandiri (Persero) Tbk
Page 572
                                                                                                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                                                                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
                                                                                                                                                                                                                                                                                                                                                                 CORPORATE
                                                                                                                                                                                                                                                                                                                                                                 GOVERNANCE




LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                                                                                                                    CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL                                                                                                                                                                                                                                                FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                                                                                                                                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                                                                                     (Expressed in millions of Rupiah, unless otherwise stated)

                                                                                                                                                                             2023
                                                                                                             Keuntungan/
                                                                                                               (kerugian)
                                                                                                                   neto
                                                                                                              yang belum
                                                                                                               direalisasi
                                                                                                            dari kenaikan/
                                                                                                             (penurunan)
                                                                                                                                                                                                                                                                                                                                                                 & PRACTICES




                                                                                                               nilai wajar
                                                                                                           aset keuangan
                                                                                                                  dalam
                                                                                                               kelompok
                                                                                                               nilai wajar
                                                                                                                                                                                                                                                                                                                                                                 ESG COMMITMENTS




                                                                                                                 melalui
                                                                                                              penghasilan                                           Keuntungan
                                                                                                            komprehensif                                                 neto
                                                                                      Selisih kurs            lain setelah                                             aktuarial
                                                                                          karena                dikurangi                                              program
                                                                                      penjabaran                  pajak                                                imbalan
                                                                                         laporan              tangguhan/                                                 pasti                                                                                                          Kepentingan
                                                                                       keuangan             Net unrealised                                              setelah                                                                                                       nonpengendali
                                                                                      dalam mata               gain/ (loss)                                           dikurangi                                                                                                           atas aset
                                                                                      uang asing/          from increase/             Bagian             Selisih         pajak                                        Selisih             Saldo laba/Retained earnings                  neto Entitas
                                                                                       Difference            (decrease) in            efektif            bersih      tangguhan/                                     transaksi                                                            Anak yang
                                                Modal             Tambahan            arising from            fair value of       lindung nilai         revaluasi   Net actuarial          Penghasilan            dengan pihak                                                         dikonsolidasi/
                                            ditempatkan         modal disetor/       translation of       financial assets          arus kas/           aset tetap/   gain from           komprehensif           nonpengendali/                                                       Non-controlling
                                            dan disetor/         agio saham/            financial           through other            Effective             Net         defined               lainnya/              Difference in     Sudah             Belum                           interest in net
                                             Issued and           Additional         statements in        comprehensive             portion of        difference in    benefits                Other             transaction with  ditentukan        ditentukan                           assets of          Total
                                 Catatan/   fully paid-in          paid-in               foreign           income - net of          cash flow         fixed assets program - net         comprehensive           non-controlling penggunaannya/ penggunaannya/                          consolidated        ekuitas/
                                  Notes        capital           capital/agio          currencies             deferred tax           hedges            revaluation of deferred tax            income                  parties     Appropriated    Unappropriated       Total            Subsidiaries      Total equity


Saldo pada tanggal                                                                                                                                                                                                                                                                                                                             Balance as of
    1 Januari 2023                             11.666.667            17.643.264            (60.427)            (2.768.553)               (3.156)        34.716.693       1.510.016               85.052                (97.202)        5.380.268       161.606.164    166.986.432          22.566.669      252.245.455                    1 January 2023
                                                                                                                                                                                                                                                                                                                                                                 RESPONSIBILITY




                                                                                                                                                                                                                                                                                                                              Adjustment of retained earnings
Penyesuaian saldo laba terkait                                                                                                                                                                                                                                                                                                   related to SFAS No. 107
   penerapan PSAK 107 pada                                                                                                                                                                                                                                                                                                       implementation in sharia
   Entitas Anak syariah             2b                      -                    -                -                       -                       -              -                   -                   -                     -                   -       (40.350)       (40.350 )            (38.053)         (78.403)                       Subsidiary

Saldo pada tanggal                                                                                                                                                                                                                                                                                                                           Balance as of
    1 Januari 2023 setelah                                                                                                                                                                                                                                                                                                         1 January 2023 after
   penerapan PSAK 107                          11.666.667           17.643.264              (60.427)            (2.768.553)              (3.156 )       34.716.693       1.510.016               85.052                 (97.202 )      5.380.268       161.565.814    166.946.082          22.528.616      252.167.052     SFAS No. 107 implementation
                                                                                                                                                                                                                                                                                                                                                                 SOCIAL AND ENVIRONMENTAL




Pembayaran dividen dari laba                                                                                                                                                                                                                                                                                                           Dividend payment from
   bersih tahun 2022                40c                     -                    -                    -                   -                       -              -                   -                       -                 -               -       (24.702.382)   (24.702.382 )                  -      (24.702.382)                 2022 net income

Kepentingan nonpengendali                                                                                                                                                                                                                                                                                                           Changes in non-controlling
   atas pembayaran dividen                                                                                                                                                                                                                                                                                                 interest arising from distribution
   dan perubahan ekuitas                                                                                                                                                                                                                                                                                                         of dividends and changes
   Entitas Anak                                             -                    -                    -                   -                       -              -               -                       -                     -               -                 -               -           (927.667)         (927.667)              in Subsidiary’s equity

Laba tahun berjalan                                         -                    -                -                           -                   -              -               -                       -                     -               -        55.060.057     55.060.057           4.991.813       60.051.870                Net income for the year

Penghasilan komprehensif lain                                                                                                                                                                                                                                                                                                           Other comprehensive
   tahun berjalan                                           -                    -          (85.872)              930.793                 4.585                  -          7.167                        -                     -               -                 -               -             49.416          906.089                income for the year


Saldo pada tanggal                                                                                                                                                                                                                                                                                                                           Balance as of
                                                                                                                                                                                                                                                                                                                                                                 LAPORAN




    31 Desember 2023                           11.666.667            17.643.264            (146.299)            (1.837.760)               1.429         34.716.693       1.517.183               85.052                 (97.202 )      5.380.268       191.923.489    197.303.757          26.642.178      287.494.962                31 December 2023
                                                                                                                                                                                                                                                                                                                                                                 KEUANGAN
                                                                                                                                                                                                                                                                                                                                                                   Financial
                                                                                                                                                                                                                                                                                                                                                                   Statements
                                                                                                                                                                                                                                                                                                                                                                            2023
                                                                                                                                                                                                                                                                                                                                                                              2023




Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari                                                                                                                    The accompanying notes to the consolidated financial statements form an integral part of these
laporan keuangan konsolidasian secara keseluruhan.                                                                                                                                                                                                             consolidated financial statements taken as a whole.




ANNUAL REPORT 2023
                                                                                                                                                                                     12




1079
Page 573
                                                                                                                                                                                                                                                                                                                                                                           MAIN




                                                                                                                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                                                                                                                                                                                                                                                                                                                                           HIGHLIGHTS




                                                                                                                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                                                                                                                         CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL                                                                                                                                                                                                                                                     FOR THE YEARS ENDED




1080 PT Bank Mandiri (Persero) Tbk
31 DESEMBER 2023 DAN 2022                                                                                                                                                                                                                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                                                                                          (Expressed in millions of Rupiah, unless otherwise stated)
                                                                                                                                                                                                     2022

                                                                                                                                             Keuntungan/
                                                                                                                                               (kerugian)
                                                                                                                                                                                                                                                                                                                                                                           REPORTS




                                                                                                                                                   neto
                                                                                                                                              yang belum
                                                                                                                                               direalisasi
                                                                                                                                            dari kenaikan/
                                                                                                                                                                                                                                                                                                                                                                           MANAGEMENT




                                                                                                                                             (penurunan)
                                                                                                                                               nilai wajar
                                                                                                                                           aset keuangan
                                                                                                                                                  dalam
                                                                                                                                               kelompok
                                                                                                                                               nilai wajar
                                                                                                                                                 melalui
                                                                                                                                              penghasilan                                             Keuntungan
                                                                                                                                            komprehensif                                                   neto
                                                                                                                      Selisih kurs            lain setelah                                               aktuarial
                                                                                                                          karena                dikurangi                                                program
                                                                                             Modal saham              penjabaran                  pajak                                                  imbalan
                                                                                                  yang                   laporan              tangguhan/                                                   pasti                                                                                       Kepentingan
                                                                                               diperoleh               keuangan             Net unrealised                                                setelah                                                                                    nonpengendali
                                                                                              dan dimiliki            dalam mata          gain/(loss) from                          Selisih             dikurangi                      Selisih                                                           atas aset
                                                                                                kembali               uang asing/               increase/         Bagian            bersih                 pajak                     transaksi            Saldo laba/Retained earnings                 neto Entitas
                                                                                                (saham                 Difference            (decrease) in        efektif          revaluasi           tangguhan/                 dengan pihak                                                          Anak yang
                                                    Modal             Tambahan                 treasuri)/             arising from            fair value of   lindung nilai        aset tetap/        Net actuarial   Penghasilan nonpengendali/                                                      dikonsolidasi/
                                                ditempatkan         modal disetor/           Share capital           translation of       financial assets      arus kas/              Net              gain from    komprehensif  Difference in                                                     Non-controlling
                                                dan disetor/         agio saham/             acquired and               financial           through other        Effective         difference            defined        lainnya/    transaction      Sudah             Belum                          interest in net
                                                 Issued and           Additional             repossessed             statements in        comprehensive         portion of          in fixed             benefits         Other       with non-    ditentukan        ditentukan                          assets of         Total
                                     Catatan/   fully paid-in          paid-in                 (treasury                 foreign           income - net of      cash flow            assets          program - net comprehensive    controlling  penggunaannya/ penggunaannya/                         consolidated       ekuitas/
                                                                                                                                                                                                                                                                                                                                                                           PROFILE




                                      Notes        capital           capital/agio                stock)                currencies             deferred tax       hedges           revaluation        of deferred tax     income        parties    Appropriated    Unappropriated       Total           Subsidiaries     Total equity
                                                                                                                                                                                                                                                                                                                                                                           COMPANY




Saldo pada tanggal                                                                                                                                                                                                                                                                                                                                      Balance as of
    1 Januari 2022                                11.666.667             17.643.264               (150.895)                (88.985)             1.692.145             (370)        30.140.345             1.217.456        85.052       (97.202)        5.380.268     137.198.867     142.579.135         17.424.670     222.111.282               1 January 2022

Pembayaran dividen dari laba                                                                                                                                                                                                                                                                                                                    Dividend payment from
   bersih tahun 2021                   40c                      -                        -                   -                        -                   -                   -                  -                -             -               -               -      (16.816.893)   (16.816.893)                  -    (16.816.893)             2021 net income

Pelepasan saham treasuri               40d                      -                        -         150.895                            -                   -                   -                  -                -             -               -               -                -              -                   -        150.895          Release of treasury stock

Penambahan kepemilikan                                                                                                                                                                                                                                                                                                                       Changes from addition of
   dari penerbitan saham baru                                                                                                                                                                                                                                                                                                           ownership from issuance of
   Entitas Anak                                                 -                    -                           -                    -                   -                   -                  -                -             -               -               -          53.553         53.553           2.164.564       2.218.117      Subsidiaries' new shares

Kepentingan nonpengendali                                                                                                                                                                                                                                                                                                                     Changes in non-controlling
   atas pembayaran dividen                                                                                                                                                                                                                                                                                                            interest arising from distribution
   dan perubahan ekuitas                                                                                                                                                                                                                                                                                                                   of dividends and changes
   Entitas Anak                                                 -                    -                       -                        -                   -                   -                  -                -             -               -               -                -              -           (764.488)       (764.488)           in Subsidiary’s equity

Laba tahun berjalan                                             -                        -                   -                        -                   -                   -                  -                -             -               -               -      41.170.637      41.170.637          3.781.731      44.952.368            Net income for the year

Penghasilan komprehensif lain                                                                                                                                                                                                                                                                                                             Other comprehensive income
   tahun berjalan                                               -                    -                       -               28.558            (4.460.698)          (2.786)         4.576.348               292.560             -               -               -                -              -            (39.808)        394.174                  for the year
                                                                                                                                                                                                                                                                                                                                                                           ANALYSIS




Saldo pada tanggal                                                                                                                                                                                                                                                                                                                                     Balance as of
    31 Desember 2022                              11.666.667             17.643.264                              -         (60.427)            (2.768.553)          (3.156)        34.716.693             1.510.016        85.052        (97.202 )      5.380.268     161.606.164     166.986.432         22.566.669     252.245.455            31 December 2022
                                                                                                                                                                                                                                                                                                                                                                           MANAGEMENT DISCUSSION &




Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari                                                                                                                           The accompanying notes to the consolidated financial statements form an integral part of these
laporan keuangan konsolidasian secara keseluruhan.                                                                                                                                                                                                                    consolidated financial statements taken as a whole.

                                                                                                                                                                                                     13
Page 574
     CORPORATE                   ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                    Financial
     GOVERNANCE                  & PRACTICES                          RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                    Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN                                              CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK TAHUN-TAHUN YANG BERAKHIR                                                                        FOR THE YEARS ENDED
PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

                                        Catatan/
                                         Notes                  2023                   2022

ARUS KAS DARI                                                                                                  CASH FLOWS FROM
 AKTIVITAS                                                                                                          OPERATING
 OPERASIONAL                                                                                                         ACTIVITIES

Penerimaan pendapatan                                                                                            Receipts from interest
  bunga                                                     109.977.225               91.108.970                              income
Penerimaan pendapatan                                                                                             Receipts from sharia
  syariah                                                       18.639.462            16.194.901                              income
Penerimaan pendapatan                                                                                         Receipts from provision,
  provisi, komisi                                                                                                   commission and
  dan premi                                                     33.870.101            33.182.421                   premium income
Pembayaran beban                                                                                                  Payments of interest
  bunga                                                         (29.551.232)         (20.157.582)                            expense
Pembayaran beban                                                                                                   Payments of sharia
  syariah                                                        (5.925.654)           (3.993.852)                           expense
Pembayaran beban                                                                                               Payments of insurance
  klaim asuransi                                                (11.598.645)         (11.912.575)                     claim expense
Penerimaan dari                                                                                                      Receipts from the
  penjualan obligasi                                                                                             sale of government
  pemerintah - diukur                                                                                          bonds - measured at
  pada nilai wajar                                                                                                          fair value
  melalui laba rugi                                         198.473.490              279.071.088               through profit or loss
Pembelian obligasi                                                                                         Acquisition of government
  pemerintah – diukur                                                                                          bonds - measured at
  pada nilai wajar                                                                                                          fair value
  melalui laba rugi                                         (207.265.229)           (279.537.515)              through profit or loss
Pendapatan/(beban) dari                                                                                        Income/(expense) from
  kelompok nilai wajar                                                                                      fair value through profit
  melalui laba rugi - neto                                       4.371.516             (1.557.115)        or loss classification - net
Pendapatan operasional                                                                                                 Other operating
  lainnya - lain-lain                                            5.527.300              3.932.497                    income - others
Beban operasional                                                                                                      Other operating
  lainnya - lain-lain                                            (8.868.375)           (7.030.620)                expenses - others
                                                                                                               Salaries and employee
Beban gaji dan tunjangan                                        (25.143.475)         (22.892.424)                 benefits expenses
Beban umum dan                                                                                                             General and
  administrasi                                                  (18.165.992)         (17.867.331)          administrative expenses
Pendapatan bukan                                                                                                         Non-operating
  operasional - neto                                                  34.694              206.816                       income - net
Pembayaran pajak                                                                                                 Payment of corporate
  penghasilan badan                                             (13.729.286)         (11.909.631)                         income tax

Arus kas dari aktivitas                                                                                    Cash flows from operating
  operasional sebelum                                                                                              activities before
  perubahan aset dan                                                                                         changes in operating
  liabilitas operasional                                        50.645.900            46.838.048              assets and liabilities

Penurunan/(kenaikan) atas                                                                                      Decrease/(increase) in
  aset operasional:                                                                                              operating assets:
  Penempatan pada                                                                                                 Placements with
    Bank Indonesia                                                                                               Bank Indonesia
    dan bank lain                                                1.300.258                702.604               and other banks
  Efek-efek - diukur pada                                                                                     Marketable securities
    nilai wajar melalui                                                                                  - measured at fair value
    laba rugi                                                    (4.523.193)            4.340.432           through profit or loss




Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                 14
                                                                                                                   ANNUAL REPORT 2023        1081
Page 575
            MAIN                        MANAGEMENT                           COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                            ANALYSIS




                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
            LAPORAN ARUS KAS KONSOLIDASIAN                                             CONSOLIDATED STATEMENTS OF CASH FLOWS
            UNTUK TAHUN-TAHUN YANG BERAKHIR                                                                       FOR THE YEARS ENDED
            PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                  2022

            ARUS KAS DARI                                                                                                CASH FLOWS FROM
             AKTIVITAS                                                                                                         OPERATING
             OPERASIONAL (lanjutan)                                                                                   ACTIVITIES (continued)

            Penurunan/(kenaikan) atas                                                                                  Decrease/(increase) in
              aset operasional (lanjutan):                                                                   operating assets (continued):
              Tagihan lainnya - transaksi                                                                                 Other receivables
                perdagangan                                                7.748.711             (4.494.996)         - trade transactions
              Kredit yang diberikan                                     (173.772.763)          (128.394.061)                            Loans
                                                                                                                        Sharia receivables/
              Piutang/pembiayaan syariah                                    (34.331.179)        (38.291.913)                     financing
              Tagihan atas efek-efek                                                                                  Securities purchased
                yang dibeli dengan                                                                                    under agreements
                janji dijual kembali                                        (10.986.939)         15.611.011                        to resell
              Piutang pembiayaan                                                                                       Consumer financing
                konsumen                                                    (10.159.382)         (5.370.202)                   receivables
              Investasi bersih dalam                                                                                         Net investment
                sewa pembiayaan                                                 307.195          (1.090.046)                finance lease
              Pajak dibayar dimuka                                              728.393             908.800                   Prepaid taxes
              Biaya dibayar dimuka                                             (824.286)           (425.252)              Prepaid expenses
              Aset lain-lain                                                 (8.293.177)         (3.230.934)                    Other assets
            Penerimaan atas aset
              keuangan yang telah                                                                                         Recovery of written-off
              dihapusbukukan                                                12.159.217             8.204.315                  financial assets

            Kenaikan/(penurunan)                                                                                          Increase/(decrease) in
              atas liabilitas operasional                                                                              operating liabilities and
              dan dana syirkah temporer:                                                                             temporary syirkah funds:
              Bank konvensional                                                                                          Conventional banking
                Giro                                                        34.079.545          119.697.949                Demand deposits
                Tabungan                                                    28.969.554           58.231.308                  Saving deposits
                Deposito berjangka                                          (7.185.303)           4.988.760                   Time deposits
                Interbank call money                                         2.845.795             (573.784)           Interbank call money
                                                                                                                             Obligations due
                Liabilitas segera                                              428.927            (1.324.445)                 immediately
                Liabilitas kepada pemegang                                                                                Liability to unit-link
                  polis unit-link                      27                     (515.525)             (947.343)                policyholders
                Utang pajak lainnya                                            (78.008)              740.103            Other taxes payable
                Liabilitas lain-lain                                        11.754.709             4.559.959                  Other liabilities

              Bank syariah - dana syirkah                                                                             Sharia bank - temporary
                temporer                                                                                                        syirkah funds
                Giro - investasi                                                                                           Demand deposits
                  terikat                                                                                           - restricted investment
                  dan giro                                                                                                and mudharabah
                  mudharabah                                                                                                   musytarakah
                  musytarakah                                                9.662.291             9.436.341              demand deposits
                Tabungan -                                                                                                   Saving deposits
                  investasi terikat                                                                                 - restricted investment
                  dan investasi                                                                                           and mudharabah
                  tidak terikat                                                                                             saving deposits
                  tabungan                                                                                                     - unrestricted
                  mudharabah                                                 5.382.833             7.794.862                      investment




            Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan            form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                       taken as a whole.

                                                                             15
1082 PT Bank Mandiri (Persero) Tbk
Page 576
     CORPORATE                   ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                    Financial
     GOVERNANCE                  & PRACTICES                          RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                    Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN                                              CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK TAHUN-TAHUN YANG BERAKHIR                                                                        FOR THE YEARS ENDED
PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)
                                        Catatan/
                                         Notes                  2023                   2022

ARUS KAS DARI                                                                                                 CASH FLOWS FROM
 AKTIVITAS                                                                                                          OPERATING
 OPERASIONAL (lanjutan)                                                                                    ACTIVITIES (continued)
Kenaikan/(penurunan)                                                                                          Increase/(decrease) in
  atas liabilitas operasional                                                                               operating liabilities and
  dan dana syirkah temporer:                                                                              temporary syirkah funds:
  (lanjutan)                                                                                                             (continued)
     Deposito                                                                                                  Mudharabah time
       mudharabah -                                                                                                     deposits
       investasi                                                                                                  - unrestricted
       tidak terikat                                            15.033.947              2.063.789                    investment
Kas neto yang (digunakan untuk)/                                                                                 Net cash (used in)/
  diperoleh dari                                                                                                      provided by
  aktivitas operasional                                         (69.622.480)          99.975.305               operating activities

ARUS KAS DARI                                                                                                   CASH FLOWS FROM
  AKTIVITAS INVESTASI                                                                                     INVESTING ACTIVITIES
(Kenaikan)/penurunan                                                                                            (Increase)/decrease in
  efek-efek -                                                                                                marketable securities -
  selain diukur pada                                                                                        other than measured at
  nilai wajar                                                                                                      fair value through
  melalui laba rugi                                              (7.500.467)          10.165.845                         profit or loss
Penurunan/(kenaikan)                                                                                           Decrease/(increase) in
  obligasi pemerintah - selain                                                                                  government bonds -
  diukur pada                                                                                               other than measured at
  nilai wajar                                                                                                                 fair value
  melalui laba rugi                                             30.052.757           (44.524.940)              through profit or loss
Penerimaan dari penjualan                                                                                        Proceeds from sale of
  aset tetap                                                        242.703                 3.943                         fixed assets
Pembelian aset tetap                       18a                   (3.086.377)           (4.007.847)          Acquisition of fixed assets
Pembelian aset                                                                                                             Acquisition of
  takberwujud                              19                    (1.934.659)           (1.091.799)                  intangible assets
Perolehan aset                                                                                                    Acquisition of right of
  hak guna                                                       (1.873.647)           (2.126.819)                          use assets
Kenaikan investasi                                                                                           Increase in Subsidiaries’
  Entitas Anak                                                        (29.770)           (308.314)                          investment
Divestasi penyertaan                                                                                                       Divestment in
  Entitas Asosiasi                                                 140.000                        -                  Associate Entity

Kas neto yang diperoleh dari/                                                                                 Net cash provided by/
  (digunakan untuk)                                                                                                      (used in)
  aktivitas investasi                                           16.010.540           (41.889.931)              investing activities


ARUS KAS DARI                                                                                                  CASH FLOWS FROM
  AKTIVITAS                                                                                                           FINANCING
  PENDANAAN                                                                                                           ACTIVITIES
Penerimaan dari efek-efek                                                                                         Receipts from debt
  yang diterbitkan                                              16.811.244              3.300.667                 securities issued
Pembayaran atas efek-efek                                                                                          Payments of debt
  yang diterbitkan                                              (12.065.865)           (4.782.101)                securities issued
Penerimaan dari pinjaman                                                                                          Receipts from fund
    yang diterima                                               67.056.159            23.013.205                      borrowings
Pembayaran atas pinjaman                                                                                           Payments of fund
  yang diterima                                                 (34.822.471)         (12.180.020)                       borrowings
Penerimaan dari                                                                                                        Receipts from
  pinjaman dan                                                                                                  subordinated loans
  efek-efek                                                                                                        and marketable
  subordinasi                                                      100.000                        -                       securities



Catatan atas laporan keuangan konsolidasian terlampir                   The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan keuangan             form an integral part of these consolidated financial statements
konsolidasian secara keseluruhan.                                                                                        taken as a whole.

                                                                 16
                                                                                                                   ANNUAL REPORT 2023        1083
Page 577
            MAIN                        MANAGEMENT                           COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                             ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
            LAPORAN ARUS KAS KONSOLIDASIAN                                             CONSOLIDATED STATEMENTS OF CASH FLOWS
            UNTUK TAHUN-TAHUN YANG BERAKHIR                                                                       FOR THE YEARS ENDED
            PADA TANGGAL 31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                    Catatan/
                                                     Notes                  2023                  2022

            ARUS KAS DARI                                                                                                CASH FLOWS FROM
              AKTIVITAS                                                                                                          FINANCING
              PENDANAAN (lanjutan)                                                                                   ACTIVITIES (continued)
            Pembayaran atas                                                                                                          Payments of
              pinjaman dan                                                                                                subordinated loans
              efek-efek                                                                                                       and marketable
              subordinasi                                                     (517.151)               (12.900)                       securities
            Kenaikan liabilitas                                                                                                       Increase in
              atas efek-efek yang                                                                                               securities sold
              dijual dengan janji                                                                                       under agreements to
              dibeli kembali                                                 11.611.121           18.642.798            repurchase liabilities
            Pembayaran dividen                         40c                  (24.702.382)         (16.816.893)           Payments of dividends
            Penerimaan dari                                                                                                        Receipts from
              kepentingan nonpengendali                                                                               non-controlling interest
              atas penerbitan                                                                                                  for issuance of
              saham baru Entitas Anak                                                  -           2.164.564         Subsidiaries’ new shares
            Kas neto yang diperoleh dari                                                                                  Net cash provided by
              aktivitas pendanaan                                           23.470.655           13.329.320               financing activities
                                                                                                                          NET (DECREASE)/
            (PENURUNAN)/KENAIKAN                                                                                             INCREASE IN
              NETO KAS DAN                                                                                                     CASH AND
              SETARA KAS                                                    (30.141.285)         71.414.694            CASH EQUIVALENTS

            DAMPAK PERUBAHAN                                                                                         EFFECTS OF EXCHANGE
             SELISIH KURS                                                                                              RATE CHANGES ON
             TERHADAP                                                                                                    CASH AND CASH
             KAS DAN SETARA KAS                                               (946.566)            9.843.138               EQUIVALENTS

                                                                                                                           CASH AND CASH
            KAS DAN SETARA KAS PADA                                                                                  EQUIVALENTS AT THE
             AWAL TAHUN                                                 274.889.544             193.631.712           BEGINNING OF YEAR
                                                                                                                           CASH AND CASH
            KAS DAN SETARA KAS PADA                                                                                  EQUIVALENTS AT THE
             AKHIR TAHUN                                                243.801.693             274.889.544                 END OF YEAR

            Kas dan setara kas                                                                                       Cash and cash equivalents
              pada akhir tahun                                                                                             at the end of year
              terdiri dari:                                                                                                       consists of:
            Kas                                     62.B.(vii)              26.431.740           27.212.759                                  Cash
            Giro pada                                                                                                     Current accounts with
              Bank Indonesia                            4               108.605.322             107.349.158                    Bank Indonesia
            Giro pada                                                                                                     Current accounts with
              bank lain                                 5                   36.606.090           47.809.985                        other banks
            Investasi jangka pendek                                                                                             Liquid short-term
              likuid dengan                                                                                                  investments with
              jangka waktu jatuh                                                                                               a period of time
              tempo tiga bulan                                                                                                maturity of three
              atau kurang sejak                                                                                           months or less from
              tanggal perolehan                                             72.158.541           92.517.642             the date of acquisition
            Total kas dan                                                                                                        Total cash and
              setara kas                                                243.801.693             274.889.544                  cash equivalents




            Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial statements
            merupakan bagian yang tidak terpisahkan dari laporan keuangan            form an integral part of these consolidated financial statements
            konsolidasian secara keseluruhan.                                                                                       taken as a whole.

                                                                             17
1084 PT Bank Mandiri (Persero) Tbk
Page 578
 CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                        Statements 2023

                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM                                           1.     GENERAL INFORMATION

     a.   Pendirian usaha                                            a.   Establishment

          PT Bank Mandiri (Persero) Tbk. (selanjutnya                     PT Bank Mandiri (Persero) Tbk. (hereinafter
          disebut “Bank Mandiri” atau “Bank”) didirikan                   referred to as “Bank Mandiri” or the “Bank”) was
          pada tanggal 2 Oktober 1998 di Negara Republik                  established on 2 October 1998 in the Republic of
          Indonesia dengan Akta Notaris Sutjipto, S.H.,                   Indonesia based on Notarial Deed No. 10 of
          No. 10, berdasarkan Peraturan Pemerintah                        Sutjipto, S.H., under Government Regulation
          No. 75 Tahun 1998 tanggal 1 Oktober 1998. Akta                  No. 75 Year 1998 dated 1 October 1998. The deed
          pendirian dimaksud telah disahkan oleh Menteri                  of establishment was approved by the Ministry of
          Kehakiman Republik Indonesia berdasarkan                        Justice of the Republic of Indonesia in its Decision
          Surat Keputusan No. C2-16561.HT.01.01.TH.98                     Letter No. C2-16561.HT.01.01.TH.98 dated
          tanggal 2 Oktober 1998, serta diumumkan pada                    2 October 1998 and was published in Supplement
          Tambahan No. 6859 dalam Berita Negara                           No. 6859 of State Gazette of the Republic of
          Republik Indonesia No. 97 tanggal 4 Desember                    Indonesia No. 97 dated 4 December 1998.
          1998.

          Bank Mandiri didirikan melalui penggabungan                     Bank Mandiri was established through the merger
          usaha PT Bank Bumi Daya (Persero) (“BBD”),                      of PT Bank Bumi Daya (Persero) (“BBD”),
          PT Bank Dagang Negara (Persero) (“BDN”),                        PT Bank Dagang Negara (Persero) (“BDN”),
          PT Bank Ekspor Impor Indonesia (Persero)                        PT Bank Ekspor Impor Indonesia (Persero) (“Bank
          (“Bank Exim”) dan PT Bank Pembangunan                           Exim”) and PT Bank Pembangunan Indonesia
          Indonesia (Persero) (“Bapindo”) (selanjutnya                    (Persero) (“Bapindo”) (hereinafter collectively
          secara bersama-sama disebut “Bank Peserta                       referred to as the “Merged Banks”).
          Penggabungan”).

          Berdasarkan Pasal 3 Anggaran Dasar Bank                         Based on Article 3 of the Bank’s Articles of
          Mandiri, ruang lingkup kegiatan Bank Mandiri                    Association, Bank Mandiri is engaged in banking
          adalah melakukan usaha di bidang perbankan                      activities in accordance with prevailing laws and
          sesuai dengan ketentuan dan peraturan                           regulations. The Bank commenced its operations
          perundang-undangan yang berlaku. Bank Mandiri                   on 1 August 1999. The Bank’s Parent Entity is the
          mulai beroperasi pada tanggal 1 Agustus 1999.                   Government of the Republic of Indonesia through
          Entitas Induk Bank adalah Pemerintah Republik                   the Ministry of State-Owned Enterprises which is
          Indonesia melalui Kementerian BUMN yang                         the Ministry within the Indonesian Government that
          merupakan Kementerian dalam Pemerintah                          is in charge of fostering state-owned enterprises.
          Indonesia yang membidangi urusan pembinaan
          badan usaha milik negara.

          Anggaran Dasar Bank Mandiri telah mengalami                     The Articles of Association of Bank Mandiri has
          beberapa kali perubahan, sebagaimana terakhir                   been amended several times, the latest
          berdasarkan Akta Pernyataan Keputusan Rapat                     amendment under Deed of Annual General
          Umum        Pemegang       Saham     Tahunan                    Meeting of Shareholders No. 12, dated
          No. 12, tanggal 16 Maret 2023, yang dibuat di                   16 March 2023 stated under Notary Utiek R.
          hadapan Utiek R. Abdurachman, S.H., MLI.,                       Abdurachman, S.H., MLI, M.Kn, notary in Jakarta.
          M.Kn., notaris di Jakarta. Perubahan tersebut                   This amendment has been submitted to and
          telah diberitahukan kepada dan mendapatkan                      approved by the Ministry of Laws and Human
          persetujuan    Menteri   Hukum     dan   Hak                    Rights of the Republic of Indonesia, in its Decision
          Asasi Manusia Republik Indonesia sesuai                         Letter No. AHU-AH.01.03-0041000 and Decision
          dengan surat penerimaan pemberitahuan                           Letter No. AHU-0016584.AH.01.02.Year 2023,
          No. AHU-AH.01.03-0041000        dan     surat                   both dated on 16 March 2023 and registered
          keputusan No. AHU-0016584.AH.01.02.Tahun                        on    Company’s        Registry      No.      AHU-
          2023 keduanya tanggal 16 Maret 2023 serta                       0054153.AH.01.11.Year 2023, dated on 16 March
          terdaftar pada Daftar Perseroan No. AHU-                        2023.
          0054153.AH.01.11.Tahun 2023 tanggal 16 Maret
          2023.




                                                       18
                                                                                                       ANNUAL REPORT 2023        1085
Page 579
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    b.   Penggabungan usaha                                          b.   Merger

                         Pada akhir bulan Februari 1998, Pemerintah                       At the end of February 1998, the Government of
                         Republik     Indonesia     (selanjutnya   disebut                the Republic of Indonesia (hereinafter referred to
                         “Pemerintah”) mengumumkan rencana untuk                          as “Government”) announced its plan to
                         melakukan restrukturisasi atas Bank Peserta                      restructure the Merged Banks. In connection with
                         Penggabungan. Sehubungan dengan rencana                          the restructurisation plan, the Government
                         restrukturisasi tersebut, Pemerintah mendirikan                  established Bank Mandiri in October 1998 through
                         Bank Mandiri pada bulan Oktober 1998 dengan                      the payment of cash and the transfer the
                         melakukan penyetoran tunai dan pengalihan                        Government’s shares of the Merged Banks (Notes
                         saham Pemerintah pada Bank Peserta                               40a and 40b). The difference between the transfer
                         Penggabungan (Catatan 40a dan 40b). Selisih                      price and the book value of the shares at the time
                         antara harga transfer dan nilai buku saham pada                  of the restructurisation was not calculated as it was
                         saat restrukturisasi tidak dihitung karena dinilai               considered not practicable to do so. All losses
                         tidak praktis. Seluruh kerugian yang timbul                      incurred during the year of restructuring were
                         selama periode restrukturisasi diakui dalam                      recognised in the Recapitalisation Program.
                         Program Rekapitalisasi.

                         Rencana restrukturisasi tersebut dirancang untuk                 The restructurisation plan was designed to merge
                         menggabungkan        usaha      Bank       Peserta               the Merged Banks’ business into Bank Mandiri on
                         Penggabungan ke dalam Bank Mandiri pada                          July 1999 and the recapitalisation of Bank Mandiri.
                         bulan Juli 1999 dan rekapitalisasi Bank Mandiri.                 The restructurisation of the Merged Banks into
                         Restrukturisasi Bank Peserta Penggabungan ke                     Bank Mandiri also covered the following:
                         dalam Bank Mandiri juga mencakup:
                         •   Restrukturisasi kredit yang diberikan;                       •   Restructurisation of loans;
                         •   Restrukturisasi    aset    non-kredit    yang                •   Restructurisation of non-loan assets;
                             diberikan;
                         •   Rasionalisasi kantor cabang di dalam dan                     •   Rationalisation of domestic and overseas
                             luar negeri;                                                     offices;
                         •   Rasionalisasi sumber daya manusia.                           •   Rationalisation of human resources.

                         Berdasarkan Akta Notaris Sutjipto, S.H., No. 100                 Based on the Notarial Deed of Sutjipto, S.H., No.
                         tanggal     24    Juli  1999,   Bank     Peserta                 100 dated 24 July 1999, the Merged Banks were
                         Penggabungan secara hukum melakukan                              legally merged into Bank Mandiri. The Merger Deed
                         penggabungan usaha ke dalam Bank Mandiri.                        was legalised by the Ministry of Justice of the
                         Akta Penggabungan Usaha tersebut disahkan                        Republic of Indonesia in its Decision Letter No. C-
                         oleh Menteri Kehakiman Republik Indonesia                        13.781.HT.01.04.TH.99 dated 29 July 1999 and
                         dengan       Surat     Keputusan      No.     C-                 approved by the Governor of Bank Indonesia in its
                         13.781.HT.01.04.TH.99 tanggal 29 Juli 1999 dan                   Decision Letter No. 1/9/KEP.GBI/1999 dated
                         disetujui oleh Gubernur Bank Indonesia dengan                    29 July 1999. The merger was declared effective by
                         Surat Keputusan No. 1/9/KEP.GBI/1999 tanggal                     the Department Chief of the South Jakarta Ministry
                         29 Juli 1999. Penggabungan tersebut dinyatakan                   of Industry and Trade Office in its Decision Letter
                         sah     oleh    Kepala    Kantor    Departemen                   No. 09031827089 dated 31 July 1999.
                         Perindustrian dan Perdagangan Jakarta Selatan
                         melalui Surat Keputusan No. 09031827089
                         tanggal 31 Juli 1999.

                         Pada tanggal efektif penggabungan usaha:                         Effective from the date of the merger:
                         •  Semua aset dan liabilitas Bank Peserta                        • All assets and liabilities of the Merged Banks
                            Penggabungan dialihkan ke Bank Mandiri                            were transferred to Bank Mandiri as the
                            sebagai Bank Hasil Penggabungan;                                  Surviving Bank;
                         •  Semua operasi dan aktivitas bisnis Bank                       •   All operations and business activities of the
                            Peserta Penggabungan dialihkan dan                                Merged Banks were transferred and operated
                            dioperasikan oleh Bank Mandiri;                                   by Bank Mandiri;
                         •  Bank Mandiri mendapat tambahan modal                          •   Bank Mandiri received additional paid-in
                            disetor sebesar Rp1.000.000 (nilai penuh)                         capital amounted to Rp1,000,000 (full amount)
                            atau setara dengan 1 (satu) lembar saham                          or equivalent to 1 (one) share representing the
                            yang merupakan sisa saham yang dimiliki                           remaining shares owned by the Government
                            oleh Pemerintah pada masing-masing Bank                           in the Merged Banks (Notes 40a and 40b).
                            Peserta Penggabungan (Catatan 40a
                            dan 40b).

                         Pada tanggal efektif dimaksud, Bank Peserta                      On the effective date, the Merged Banks were
                         Penggabungan secara hukum dibubarkan tanpa                       legally dissolved without liquidation process and
                         proses likuidasi dan Bank Mandiri sebagai Bank                   Bank Mandiri, as the Surviving Bank, received all
                         Hasil Penggabungan menerima seluruh hak dan                      the rights and obligations from the Merged Banks.
                         liabilitas dari Bank Peserta Penggabungan.


                                                                       19
1086 PT Bank Mandiri (Persero) Tbk
Page 580
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

     c.   Rekapitalisasi                                             c.   Recapitalisation

          Dalam rangka mengatasi kondisi ekonomi yang                     In response to the effects of the adverse economic
          memburuk di Indonesia pada sektor perbankan,                    conditions on the banking sector in Indonesia, on
          pada tanggal 31 Desember 1998, Pemerintah                       31 December 1998, the Government issued
          telah mengeluarkan Peraturan Pemerintah                         Government Regulation No. 84 Year 1998
          No. 84     Tahun    1998   tentang    Program                   regarding      Recapitalisation      Program    for
          Rekapitalisasi Bank Umum yang bertujuan untuk                   Commercial Banks, which was designed to
          meningkatkan permodalan bank umum agar                          increase the paid-in capital of commercial banks to
          dapat memenuhi Rasio Kecukupan Modal                            enable them to meet the minimum requirement of
          (Capital Adequacy Ratio yang selanjutnya                        Capital Adequacy Ratio (“CAR”). The eligibility of
          disebut “CAR”) minimum sesuai dengan                            commercial      banks    for    inclusion   in the
          ketentuan yang ditetapkan. Keikutsertaan bank                   Recapitalisation    Program       is    based   on
          umum dalam Program Rekapitalisasi didasarkan                    requirements and procedures set forth in the Joint
          pada persyaratan dan prosedur yang ditetapkan                   Decrees        No.      53/KMK.017/1999        and
          dalam Surat Keputusan Bersama Menteri                           No. 31/12/KEP/GBI dated 8 February 1999 of the
          Keuangan dan Gubernur Bank Indonesia No.                        Ministry of Finance and the Governor of Bank
          53/KMK.017/1999      dan    No. 31/12/KEP/GBI                   Indonesia. Based on the Joint Decrees, the
          tanggal 8 Februari 1999. Berdasarkan Surat                      Government, among others, shall implement the
          Keputusan Bersama tersebut, Pemerintah antara                   Recapitalisation Program for Commercial Banks
          lain harus melakukan Program Rekapitalisasi                     with respect to all State-Owned Banks, Regional
          Bank Umum terhadap seluruh Bank Milik Negara,                   Development Banks, and Commercial Banks, with
          Bank Pembangunan Daerah dan Bank Umum                           the status of “Bank Take Over”, by the Indonesian
          yang berstatus “Bank Take Over” oleh Badan                      Bank Restructuring Agency (Badan Penyehatan
          Penyehatan Perbankan Nasional (“BPPN”).                         Perbankan Nasional or “BPPN”).

          Pada tanggal 28 Mei 1999, Pemerintah                            On 28 May 1999, the Government issued
          mengeluarkan Peraturan Pemerintah No. 52                        Government Regulation No. 52 of 1999 (PP No.
          Tahun 1999 (PP No. 52/1999) tentang                             52/1999) regarding additional capital investment by
          penambahan penyertaan modal Pemerintah                          the Government of Republic of Indonesia in Bank
          Republik Indonesia pada Bank Mandiri melalui                    Mandiri through issuance of Government
          penerbitan Obligasi Rekapitalisasi Pemerintah                   Recapitalisation Bonds to be issued then by the
          oleh Menteri Keuangan dengan nilai maksimum                     Ministry of Finance with a value of up to
          Rp137.800.000. Pelaksanaan PP No. 52/1999                       Rp137,800,000. The implementation of PP No.
          diatur dalam Surat Keputusan Bersama Menteri                    52/1999 was set forth in Joint Decrees of the
          Keuangan dan Gubernur Bank Indonesia                            Ministry of Finance and the Governor of Bank
          No. 389/KMK.017/1999 dan No. 1/10/KEP/GBI                       Indonesia      No.    389/KMK.017/1999         and
          tanggal 29 Juli 1999.                                           No. 1/10/KEP/GBI dated 29 July 1999.

          Selama Obligasi Rekapitalisasi Pemerintah                       While the Government Recapitalisation Bonds had
          tersebut belum diterbitkan, pada saat itu Bank                  not yet been issued, at the point in time, Bank
          Mandiri mengakui adanya “Tagihan kepada                         Mandiri accounted the bonds as “Due from the
          Pemerintah” sebesar Rp137.800.000 sesuai                        Government” amounted to Rp137,800,000 in
          dengan penegasan Komitmen Pemerintah                            accordance with the Government’s Commitment
          melalui   surat    dari    Menteri    Keuangan                  through the Ministry of Finance’s letter
          No. S-360/MK.017/1999 tanggal 29 September                      No. S-360/MK.017/1999 dated 29 September 1999
          1999    dan    persetujuan    Menteri   Negara                  and the approval of the Ministry of State-Owned
          Pendayagunaan BUMN melalui surat No. S-510/                     Enterprises in letter No. S-510/M-PBUMN/1999
          M-PBUMN/1999 tanggal 29 September 1999.                         dated 29 September 1999.

          Sesuai    dengan     Surat   Bank      Indonesia                Based on Bank Indonesia Letter No. 1/1/GBI/DPIP
          No. 1/1/GBI/DPIP tanggal 11 Oktober 1999                        dated 11 October 1999, concerning the Issuance
          perihal   Penerbitan    Obligasi/Surat     Utang                of Government Bonds/Debentures in connection
          Pemerintah dalam rangka penyertaan modal                        with the Government of Republic of Indonesia's
          Pemerintah Republik Indonesia di Bank Mandiri,                  capital investment in Bank Mandiri, Bank
          Bank Indonesia menyetujui tagihan kepada                        Indonesia agreed to include the above receivable
          Pemerintah tersebut di atas termasuk dalam                      as Bank Mandiri’s core capital (Tier 1) for the
          modal inti Bank Mandiri (Tier I) dalam                          purposes of calculating its Capital Adequacy Ratio
          perhitungan Rasio Kecukupan Modal (CAR) pada                    (CAR) as of 31 July 1999 through 30 September
          tanggal    31 Juli   1999    sampai      dengan                 1999, with a condition that not later than
          30 September 1999, dengan syarat bahwa                          15     October      1999      the      Government
          selambat-lambatnya tanggal 15 Oktober 1999,                     Bonds/Debentures should have been received by
          Obligasi/Surat Utang Pemerintah telah diterima                  Bank Indonesia.
          oleh Bank Indonesia.



                                                       20
                                                                                                       ANNUAL REPORT 2023        1087
Page 581
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)

               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    c.   Rekapitalisasi (lanjutan)                                   c.   Recapitalisation (continued)

                         Berdasarkan Peraturan Pemerintah No. 97                          Based on Government Regulation No. 97 year
                         Tahun 1999 tanggal 24 Desember 1999 tentang                      1999 dated 24 December 1999 concerning the
                         penambahan penyertaan modal Pemerintah di                        increase in capital investment from the
                         Bank    Mandiri  dalam     rangka      Program                   Government in Bank Mandiri in relation to the
                         Rekapitalisasi,   Pemerintah        menambah                     Recapitalisation   Program,    the    Government
                         penyertaan modal sampai sejumlah maksimum                        increased its capital investment to a maximum of
                         Rp42.200.000, sehingga penyertaan secara                         Rp42,200,000, so that the total maximum
                         keseluruhan menjadi setinggi-tingginya sebesar                   investment become amounted to Rp180,000,000.
                         Rp180.000.000.

                         Dalam      rangka    pelaksanaan      Peraturan                  In relation to the implementation of the above
                         Pemerintah No. 52 dan No. 97 Tahun 1999                          Government Regulations No. 52 and No. 97 year
                         tersebut di atas, maka dalam Perjanjian                          1999,     in   the  Temporary     Recapitalisation
                         Rekapitalisasi Sementara antara Pemerintah                       Agreement between the Government and Bank
                         dengan Bank Mandiri beserta perubahannya,                        Mandiri and its amendment, the Government
                         Pemerintah     telah   mengeluarkan     Obligasi                 issued Government Recapitalisation Bonds in 2
                         Rekapitalisasi Pemerintah dalam 2 (dua) tahap,                   (two) tranches of Rp103,000,000 on 13 October
                         yaitu sebesar Rp103.000.000 pada tanggal                         1999 and Rp75,000,000 on 28 December 1999 so
                         13 Oktober 1999 dan Rp75.000.000 pada tanggal                    that as of 31 December 1999 the total Government
                         28 Desember 1999, sehingga pada tanggal                          Recapitalisation Bonds issued in accordance with
                         31 Desember 1999 jumlah keseluruhan Obligasi                     the     aforementioned    agreements     become
                         Rekapitalisasi Pemerintah yang diterbitkan                       amounted to Rp178,000,000.
                         berdasarkan perjanjian tersebut menjadi sebesar
                         Rp178.000.000.

                         Berdasarkan Kontrak Manajemen pada tanggal                       Based on the Management Contract dated 8 April
                         8 April 2000 antara Bank Mandiri dan                             2000 between Bank Mandiri and the Government,
                         Pemerintah, ditetapkan jumlah kebutuhan                          the total amount of recapitalisation required by
                         rekapitalisasi Bank Mandiri adalah sebesar                       Bank Mandiri was Rp173,931,000, or less than the
                         Rp173.931.000 atau lebih kecil dari jumlah                       amount of the Government Recapitalisation
                         Obligasi    Rekapitalisasi   Pemerintah.    Dari                 Bonds. The excess of Rp1,412,000 was used as
                         kelebihan     tersebut,  sebesar   Rp1.412.000                   additional paid-in capital and the remaining excess
                         digunakan sebagai tambahan modal disetor,                        balance of Rp2,657,000 was returned to the
                         sedangkan sisanya sebesar Rp2.657.000                            Government on 7 July 2000 in the form of
                         dikembalikan kepada Pemerintah pada tanggal                      Government Recapitalisation Bonds equivalent to
                         7 Juli 2000 dalam bentuk Obligasi Rekapitalisasi                 2,657,000 units.
                         Pemerintah sebanyak 2.657.000 unit.

                         Sesuai Surat Menteri Keuangan Republik                           Based on the Letter from the Ministry of Finance of
                         Indonesia    No.    S-174/MK.01/2003    tanggal                  the Republic of Indonesia No. S-174/MK.01/2003
                         24 April 2003 tentang pengembalian kelebihan                     dated 24 April 2003 regarding the return of the
                         Obligasi    Rekapitalisasi   Pemerintah   yang                   excess Government Recapitalisation Bonds, which
                         sebelumnya digunakan sebagai tambahan                            was previously used as additional paid-in capital,
                         modal, Bank Mandiri telah mengembalikan                          Government Recapitalisation Bonds amounted to
                         Obligasi Rekapitalisasi Pemerintah sebesar                       Rp1,412,000 were returned to the Government by
                         Rp1.412.000 kepada Pemerintah pada tanggal                       Bank Mandiri on 25 April 2003 (Note 40b).
                         25 April 2003 (Catatan 40b).

                         Menteri   Keuangan      Republik   Indonesia                     The Ministry of Finance of Republic of Indonesia
                         mengeluarkan Surat Keputusan (“KMK-RI”)                          issued       Decree         Letter      (“KMK-RI”)
                         No. 227/KMK.02/2003 tanggal 23 Mei 2003 dan                      No. 227/KMK.02/2003 dated 23 May 2003 and
                         KMK-RI    No.    420/KMK-02/2003     tanggal                     KMK-RI      No.       420/KMK-02/2003       dated
                         30 September 2003 yang antara lain                               30 September 2003 confirmed that the final
                         memutuskan jumlah final tambahan penyertaan                      amount of the addition of the Government’s capital
                         modal Pemerintah di Bank Mandiri sebesar                         investment participation in Bank Mandiri amounted
                         Rp173.801.315 (Catatan 40b).                                     to Rp173,801,315 (Note 40b).




                                                                      21
1088 PT Bank Mandiri (Persero) Tbk
Page 582
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                          Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                             KEUANGAN   2023
                                                                                                          Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

     d.   Penawaran umum perdana saham dan kuasi-                     d.   Initial public offering of Share and quasi-
          reorganisasi                                                     reorganisation

          Penawaran    umum     perdana    saham     Bank                  Initial public offering of Bank Mandiri’s share
          Mandiri

          Bank Mandiri telah menyampaikan pernyataan                       Bank Mandiri had submitted its registration for an
          pendaftaran sehubungan dengan Penawaran                          Initial Public Offering (“IPO”) to Financial Services
          Umum Perdana Saham (Initial Public Offering                      Authorities (“FSA”), previously the Capital Market
          yang selanjutnya disebut “IPO”) kepada Otoritas                  Supervisory Board and Financial Institution
          Jasa Keuangan (“OJK”), dahulu Badan                              (“Bapepam and LK”) on 2 June 2003 and became
          Pengawas Pasar Modal dan Lembaga Keuangan                        effective based on the Letter from the Chairman of
          (“Bapepam dan LK”), pada tanggal 2 Juni 2003                     Bapepam and LK No. S-1551/PM/2003 dated
          dan telah dinyatakan efektif berdasarkan Surat                   27 June 2003.
          Ketua Bapepam dan LK No. S-1551/PM/2003
          tanggal 27 Juni 2003.

          Nama perusahaan berubah dari semula PT Bank                      The Bank’s name was changed from PT Bank
          Mandiri (Persero) menjadi PT Bank Mandiri                        Mandiri (Persero) to PT Bank Mandiri (Persero)
          (Persero) Tbk. berdasarkan perubahan Anggaran                    Tbk. based on an amendment to the Articles of
          Dasar yang dilaksanakan dengan Akta Notaris                      Association which has been executed with Notarial
          Sutjipto, S.H., No. 2 tanggal 1 Juni 2003 dan                    Deed of Sutjipto, S.H., No. 2 dated 1 June 2003 and
          telah disetujui oleh Menteri Hukum dan Hak                       had approved by the Ministry of Law and Human
          Asasi Manusia Republik Indonesia berdasarkan                     Rights of the Republic of Indonesia in its Decision
          Surat Keputusan No. C-12783.HT.01.04.TH.2003                     Letter No. C-12783.HT.01.04.TH.2003 dated 6 June
          tanggal 6 Juni 2003 dan telah diumumkan pada                     2003 that was published in the State Gazette
          Berita Negara Republik Indonesia No. 63                          Republic of Indonesia No. 63 dated 8 August 2003,
          tanggal 8 Agustus 2003, Tambahan Berita                          Supplement State Gazette of Republic of Indonesia
          Negara Republik Indonesia No. 6590.                              No. 6590.


          Pada tanggal 14 Juli 2003, Bank Mandiri                          On 14 July 2003, Bank Mandiri sold its
          melakukan IPO atas 4.000.000.000 lembar                          4,000,000,000 Series B common shares through
          Saham Biasa Seri B, dengan nilai nominal Rp500                   IPO, with a nominal value of Rp500 (full amount)
          (nilai penuh) per lembar saham yang dijual                       per share with an initial selling price of Rp675 (full
          dengan harga Rp675 (nilai penuh) per lembar                      amount) per share. The IPO to public represents a
          saham. Penawaran umum kepada masyarakat                          divestment of 20.00% of the ownership of the
          tersebut merupakan divestasi atas 20,00%                         Government’s share in Bank Mandiri (Note 40a).
          saham Bank Mandiri milik Pemerintah (Catatan
          40a).

          Pada tanggal 14 Juli 2003, sebanyak                              On 14 July 2003, 19,800,000,000 of Bank Mandiri’s
          19.800.000.000 lembar Saham Biasa Seri B                         Series B common shares were listed on the Jakarta
          Bank Mandiri telah dicatatkan di Bursa Efek                      Stock Exchange and Surabaya Stock Exchange
          Jakarta dan Bursa Efek Surabaya berdasarkan                      based on Jakarta Stock Exchange’s Approval Letter
          surat persetujuan dari Bursa Efek Jakarta No. S-                 No. S-1187/BEJ.PSJ/07-2003 dated 8 July 2003
          1187/BEJ.PSJ/07-2003 tanggal 8 Juli 2003 dan                     and Surabaya Stock Exchange’s Approval Letter
          Bursa      Efek     Surabaya       No.      JKT-                 No. JKT-028/LIST/BES/VII/2003 dated 10 July
          028/LIST/BES/VII/2003 tanggal 10 Juli 2003.                      2003.

          Kuasi-reorganisasi                                               Quasi-reorganisation

          Untuk menghilangkan konsekuensi negatif                          In order for Bank Mandiri to eliminate the negative
          karena dibebani dengan saldo rugi, Bank Mandiri                  consequences of being burdened by accumulated
          melakukan kuasi-reorganisasi sesuai keputusan                    losses, the Bank undertook quasi-reorganisation as
          Rapat Umum Pemegang Saham Luar Biasa                             approved in the Extraordinary General Meeting of
          (“RUPS-LB”) tanggal 29 Mei 2003.                                 Shareholders (“RUPS-LB”) on 29 May 2003.

          Penyesuaian kuasi-reorganisasi telah dibukukan                   The quasi-reorganisation adjustments were booked
          pada tanggal 30 April 2003, saldo rugi sebesar                   on 30 April 2003, which the accumulated losses of
          Rp162.874.901 dieliminasi ke akun tambahan                       Rp162,874,901 were eliminated against additional
          modal disetor/agio saham.                                        paid-in capital/agio.



                                                       22
                                                                                                         ANNUAL REPORT 2023         1089
Page 583
            MAIN                       MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                          ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    d.   Penawaran umum perdana saham dan kuasi-                     d.   Initial public offering of share and quasi-
                         reorganisasi (lanjutan)                                          reorganisation (continued)

                         Kuasi-reorganisasi (lanjutan)                                    Quasi-reorganisation (continued)

                         Anggaran Dasar Bank Mandiri telah mengalami                      Bank Mandiri’s Articles of Association were
                         perubahan sehubungan dengan perubahan                            amended due to the changes in additional paid-in
                         tambahan modal disetor karena adanya kuasi-                      capital as a result of quasi-reorganisation, based on
                         reorganisasi sesuai dengan Akta Notaris Sutjipto,                Notarial Deed of Sutjipto, S.H., No. 130 dated
                         S.H., No. 130 tanggal 29 September 2003 dan                      29 September 2003 which was approved by the
                         telah disahkan oleh Menteri Hukum dan Hak                        Ministry of Law and Human Rights of the Republic
                         Asasi Manusia Republik Indonesia berdasarkan                     of Indonesia in its Decision Letter No. C-
                         Surat Keputusan No. C-25309.HT.01.04.TH.2003                     25309.HT.01.04.TH.2003 dated 23 October 2003
                         tanggal 23 Oktober 2003 dan diumumkan pada                       and was published in the State Gazette Republic of
                         Berita Negara Republik Indonesia No. 910                         Indonesia No. 910, Supplement No. 93 dated
                         tanggal 23 Oktober 2003, Tambahan No. 93.                        23 October 2003.

                         Pada tanggal 30 Oktober 2003, RUPS-LB Bank                       On 30 October 2003, Bank Mandiri’s RUPS-LB
                         Mandiri menyetujui kuasi-reorganisasi pada                       approved the quasi-reorganisation as of 30 April
                         tanggal 30 April 2003 tersebut sebagaimana                       2003, which were notarised by Sutjipto, S.H., in
                         terdapat dalam Akta Notaris Sutjipto, S.H.,                      Notarial Deed No. 165 dated 30 October 2003.
                         No. 165 tanggal 30 Oktober 2003.

                    e.   Divestasi kepemilikan saham oleh Pemerintah                 e.   Divestment of Government share ownership

                         Pada tanggal 11 Maret 2004, Pemerintah telah                     On 11 March 2004, the Government divested
                         melakukan divestasi lanjutan atas 10,00%                         another 10.00% of its ownership in Bank Mandiri
                         kepemilikan di Bank Mandiri atau sebanyak                        which was equivalent to 2,000,000,000 Series B
                         2.000.000.000 lembar Saham Biasa Seri B                          common shares through private placements (Note
                         melalui private placements (Catatan 40a).                        40a).


                    f.   Penawaran umum obligasi dan medium term                     f.   Public offering of subordinated bonds and
                         notes subordinasi, penawaran umum obligasi                       medium term notes, public offering of bonds
                         dan medium term notes, penawaran umum                            and medium term notes, limited public offering
                         terbatas saham, perubahan modal saham                            of shares, changes in share capital of Bank
                         Bank Mandiri dan pembelian kembali saham                         Mandiri and repurchase of Bank Mandiri shares
                         Bank Mandiri

                         Penawaran umum obligasi dan medium term                          Public offering of Bank Mandiri subordinated
                         notes subordinasi Bank Mandiri                                   bonds and medium term notes

                         Pada tanggal 23 Juni 2023, Bank Mandiri                          On 23 June 2023, Bank Mandiri issued
                         menerbitkan Medium Term Notes Subordinasi II                     Subordinated Medium Term Notes II Bank Mandiri
                         Bank Mandiri Tahun 2023 dengan nilai nominal                     Year 2023 with nominal value of Rp100,000.
                         sebesar Rp100.000.

                         Pada tanggal 31 Juli 2018, Bank Mandiri                          On 31 July 2018, Bank Mandiri issued Subordinated
                         menerbitkan Medium Term Notes Subordinasi I                      Medium Term Notes I Bank Mandiri Year 2018 with
                         Bank Mandiri Tahun 2018 dengan nilai nominal                     nominal value of Rp500,000.
                         sebesar Rp500.000.

                         Penawaran umum obligasi dan medium term                          Public offering of Bank Mandiri bonds and
                         notes Bank Mandiri                                               medium term notes

                         Pada tanggal 4 Juli 2023, Bank Mandiri                           On 4 July 2023, Bank Mandiri issued Continuous
                         menerbitkan Obligasi Berwawasan Lingkungan                       Green Bond I Bank Mandiri Phase I Year 2023
                         Berkelanjutan I Bank Mandiri Tahap I Tahun                       (“Continuous Green Bond I Phase I”) with nominal
                         2023    (“Obligasi  Berwawasan      Lingkungan
                         Berkelanjutan I Tahap I”) dengan nilai nominal                   value of Rp5,000,000. Public offering of Continuous
                         sebesar Rp5.000.000. Penawaran Umum                              Green Bond I Bank Mandiri Phase I Year 2023 was
                         Berkelanjutan Obligasi Berwawasan Lingkungan                     effective based on Letter of FSA Capital Market
                         Berkelanjutan I Bank Mandiri Tahap I Tahun                       No. S-137/D.04/2023 dated 21 June 2023.
                         2023 efektif sesuai Surat OJK Pasar Modal
                         No. S-137/D.04/2023 tanggal 21 Juni 2023.




                                                                      23
1090 PT Bank Mandiri (Persero) Tbk
Page 584
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

     f.   Penawaran umum obligasi dan medium term                     f.   Public offering of subordinated bonds and
          notes subordinasi, penawaran umum obligasi                       medium term notes, public offering of bonds
          dan medium term notes, penawaran umum                            and medium term notes, limited public offering
          terbatas saham, perubahan modal saham                            of shares, changes in share capital of Bank
          Bank Mandiri dan pembelian kembali saham                         Mandiri and repurchase of Bank Mandiri shares
          Bank Mandiri (lanjutan)                                          (continued)

          Penawaran umum obligasi dan medium term                          Public offering of Bank Mandiri bonds and
          notes Bank Mandiri (lanjutan)                                    medium term notes (continued)

          Pada tanggal 4 April 2023, Bank Mandiri                          On 4 April 2023, Bank Mandiri issued the fourth
          menerbitkan Euro Medium Term Notes (EMTN)                        Euro Medium Term Notes (EMTN), with a nominal
          keempat, dengan nilai nominal sebesar                            value of USD300,000,000 (full amount) in the
          USD300.000.000 (nilai penuh) di Singapore                        Singapore Exchange (SGX).
          Exchange (SGX).

          Pada tanggal 19 April 2021, Bank Mandiri                         On 19 April 2021, Bank Mandiri issued the third
          menerbitkan EMTN ketiga, yaitu Sustainability                    EMTN, namely the Sustainability Bond Bank Mandiri
          Bond Bank Mandiri 2021, dengan nilai nominal                     2021, with a nominal value of USD300,000,000 (full
          sebesar USD300.000.000 (nilai penuh) di SGX.                     amount) in the SGX.

          Pada tanggal 13 Mei 2020, Bank Mandiri                           On 13 May 2020, Bank Mandiri issued the second
          menerbitkan EMTN kedua, dengan nilai nominal                     EMTN with nominal value of USD500,000,000 (full
          sebesar USD500.000.000 (nilai penuh) dan pada                    amount) and on 11 April 2019 the Bank issued the
          tanggal 11 April 2019, menerbitkan EMTN                          first EMTN with nominal value of USD750,000,000
          pertama,     dengan       nominal     sebesar                    (full amount) in the SGX.
          USD750.000.000 (nilai penuh) di SGX.

          Pada tanggal 12 Mei 2020, Bank Mandiri                           On 12 May 2020, Bank Mandiri issued Continuous
          menerbitkan Obligasi Berkelanjutan II Bank                       Bonds II Bank Mandiri Phase I Year 2020
          Mandiri Tahap I Tahun 2020 (“Obligasi                            (“Continuous Bonds II Phase I”) with nominal value
          Berkelanjutan II Tahap I”) dengan nilai nominal                  of Rp1,000,000. Public offering of Continuous
          sebesar Rp1.000.000. Penawaran Umum                              Bonds II Bank Mandiri Phase I Year 2020 was
          Berkelanjutan Obligasi Berkelanjutan II Bank                     effective based on letter of FSA Capital Market
          Mandiri Tahap I Tahun 2020 efektif sesuai Surat                  No. S-133,D.04/2020 dated 30 April 2020.
          OJK Pasar Modal No. S-133/D.04/2020 tanggal
          30 April 2020.

          Pada tanggal 21 September 2018, Bank Mandiri                     On 21 September 2018, Bank Mandiri issued
          menerbitkan Obligasi Berkelanjutan I Bank                        Continuous Bonds I Bank Mandiri Phase III Year
          Mandiri Tahap III Tahun 2018 (“Obligasi                          2018 ("Continuous Bonds I Phase III") with a
          Berkelanjutan I Tahap III”) dengan nilai nominal                 nominal value of Rp3,000,000.
          sebesar Rp3.000.000.

          Pada tanggal 15 Juni 2017, Bank Mandiri                          On 15 June 2017, Bank Mandiri issued Continuous
          menerbitkan Obligasi Berkelanjutan I Bank                        Bonds I Bank Mandiri Phase II Year 2017
          Mandiri Tahap II Tahun 2017 (“Obligasi                           ("Continuous Bonds I Phase II") with a nominal
          Berkelanjutan I Tahap II”) dengan nilai nominal                  value of Rp6,000,000 (Note 30).
          sebesar Rp6.000.000 (Catatan 30).

          Pada tanggal 30 September 2016, Bank Mandiri                     On 30 September 2016, Bank Mandiri issued
          menerbitkan Obligasi Berkelanjutan I Bank                        Continuous Bonds I Bank Mandiri Phase I Year
          Mandiri Tahap I Tahun 2016 (“Obligasi                            2016 (“Continuous Bonds I Phase I”) with nominal
          Berkelanjutan I Tahap I”) dengan nilai nominal                   amount of Rp5,000,000. Public offering of
          sebesar Rp5.000.000. Penawaran Umum                              Continuous Bonds I Bank Mandiri Phase I Year
          Berkelanjutan Obligasi Berkelanjutan I Bank                      2016 was effective based on Letter of FSA Capital
          Mandiri Tahap I Tahun 2016 efektif sesuai Surat                  Market    No.     S-530/D.04/2016     dated   on
          OJK Pasar Modal No. S-530/D.04/2016 tanggal                      22 September 2016.
          22 September 2016.




                                                       24
                                                                                                       ANNUAL REPORT 2023        1091
Page 585
            MAIN                       MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                          ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    f.   Penawaran umum obligasi dan medium term                     f.   Public offering of subordinated bonds and
                         notes subordinasi, penawaran umum obligasi                       medium term notes, public offering of bonds
                         dan medium term notes, penawaran umum                            and medium term notes, limited public offering
                         terbatas saham, perubahan modal saham                            of shares, changes in share capital of Bank
                         Bank Mandiri dan pembelian kembali saham                         Mandiri and repurchase of Bank Mandiri shares
                         Bank Mandiri (lanjutan)                                          (continued)

                         Penawaran    umum     terbatas   saham     Bank                  Limited public offering of Bank Mandiri shares
                         Mandiri

                         Untuk penguatan struktur permodalan, Bank                        To strengthen the capital structure, the Bank
                         Mandiri meningkatkan modal ditempatkan dan                       increased its issued and paid-up capital through the
                         disetor melalui Penawaran Umum Terbatas                          Limited Public Offering ("LPO") with Pre-emptive
                         (“PUT”) dengan Hak Memesan Efek Terlebih                         Rights ("HMETD"). Bank Mandiri had submitted the
                         Dahulu (“HMETD”). Terkait dengan PUT tersebut,                   first and second registration statement of this LPO
                         Bank Mandiri telah menyampaikan pernyataan                       to the Financial Services Authority (“FSA”),
                         pendaftaran pertama dan kedua kepada Otoritas                    previously the Capital Market Supervisory Board
                         Jasa Keuangan (“OJK”), dahulu Badan                              and Financial Institution ("Bapepam and LK") on
                         Pengawas Pasar Modal dan Lembaga Keuangan                        26 December 2010 and 18 January 2011. Capital
                         (“Bapepam      dan      LK”),  pada     tanggal                  Market Supervisory Board and Financial Institution
                         26 Desember 2010 dan tanggal 18 Januari 2011.                    on 27 January 2011 based on the Bapepam and LK
                         Bapepam dan LK berdasarkan Surat Pelaksana                       Acting Chief letter No. S-807/BL/2011 stated that
                         Ketua Bapepam dan LK No. S-807/BL/2011                           the LPO with HMETD of Bank Mandiri had been
                         tanggal 27 Januari 2011 menyatakan bahwa                         effective. The Bank also obtained an approval from
                         pendaftaran PUT dengan HMETD Bank Mandiri                        the shareholders based on the decision of
                         tersebut telah efektif. Bank Mandiri juga telah                  Extraordinary General Meeting of Shareholder dated
                         memperoleh persetujuan pemegang saham                            on 28 January 2011 as notarised by Dr. A.
                         sesuai hasil keputusan RUPS-LB tanggal                           Partomuan Pohan, S.H., LLM No. 15 dated
                         28 Januari 2011 sebagaimana terdapat dalam                       25 February 2011 and reported it to the Ministry of
                         Akta Notaris Dr. A. Partomuan Pohan, S.H., LLM                   Law and Human Rights Republic of Indonesia with
                         No. 15 tanggal 25 Februari 2011 yang telah                       the receipt No. AHU-AH.01.10-07446 dated
                         dilaporkan kepada Menteri Hukum dan Hak Asasi                    10 March 2011. The Bank also registered it to
                         Manusia Republik Indonesia dengan bukti                          company listing No. AHU-0019617.AH.01.09 Year
                         penerimaan laporan No. AHU-AH.01.10-07446                        2011 dated 10 March 2011.
                         tanggal 10 Maret 2011 dan telah didaftarkan
                         pada      Daftar     Perseroan   No.      AHU-
                         0019617.AH.01.09       Tahun   2011     tanggal
                         10 Maret 2011.

                         Total HMETD yang diterbitkan Bank Mandiri                        Total number of Pre-emptive Rights issued by Bank
                         adalah sebanyak 2.336.838.591 lembar saham                       Mandiri was 2,336,838,591 shares at a price of
                         dengan harga sebesar Rp5.000 (nilai penuh) per                   Rp5,000 (full amount) per share which had been
                         lembar yang telah ditetapkan pada tanggal                        determined on 25 January 2011 and the execution
                         25 Januari 2011 dan pelaksanaan periode                          period of Pre-emptive Rights trading started from
                         perdagangan     HMETD      dimulai     tanggal                   14 February 2011 until 21 February 2011.
                         14 Februari 2011 sampai dengan 21 Februari
                         2011.

                         Pemerintah    Republik  Indonesia    sebagai                     The Government of the Republic of Indonesia as the
                         pemegang saham mayoritas Bank Mandiri, tidak                     controlling shareholder of Bank Mandiri, did not
                         melaksanakan haknya untuk memperoleh                             execute its right to acquire the Pre-emptive Rights,
                         HMETD,     namun    mengalihkannya    kepada                     and transferred it to other public shareholders. As a
                         pemegang saham publik lainnya, sehingga                          result of this, Government’s ownership in Bank
                         komposisi persentase kepemilikan saham                           Mandiri was reduced or diluted from 66.68%, prior to
                         Pemerintah pada Bank Mandiri menjadi                             the execution of Pre-emptive Rights, to 60.00% after
                         berkurang atau mengalami dilusi dari sebesar                     the execution of the Pre-emptive Rights.
                         66,68% sebelum periode pelaksanaan HMETD
                         menjadi sebesar 60,00% setelah pelaksanaan
                         HMETD.




                                                                      25
1092 PT Bank Mandiri (Persero) Tbk
Page 586
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                          Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                  1.     GENERAL INFORMATION (continued)

     f.   Penawaran umum obligasi dan medium term                      f.   Public offering of subordinated bonds and
          notes subordinasi, penawaran umum obligasi                        medium term notes, public offering of bonds
          dan medium term notes, penawaran umum                             and medium term notes, limited public offering
          terbatas saham, perubahan modal saham                             of shares, changes in share capital of Bank
          Bank Mandiri dan pembelian kembali saham                          Mandiri and repurchase of Bank Mandiri shares
          Bank Mandiri (lanjutan)                                           (continued)
          Perubahan modal saham Bank Mandiri                                Changes in share capital of Bank Mandiri
          Rincian perubahan modal saham ditempatkan                         The details of changes in issued and paid-in-share
          dan disetor (Catatan 40a) adalah sebagai berikut:                 capital (Note 40a) are as follows:

                                                            Total saham/
                                                             Number of
                                                               shares
          Setoran awal dalam pendirian oleh                                                            Initial capital injection by
            Pemerintah di tahun 1998                             4.000.000                           the Government in 1998
          Penambahan modal disetor oleh                                                            Increase in paid-in capital by
            Pemerintah di tahun 1999                                 251.000                         the Government in 1999
                                                                 4.251.000
          Penambahan modal disetor oleh                                                            Increase in paid-in capital by
            Pemerintah di tahun 2003                             5.749.000                           the Government in 2003
                                                                10.000.000
          Penurunan nilai nominal saham                                                          Decrease in par value per share
            dari Rp1.000.000 (nilai penuh)                                                     from Rp1,000,000 (full amount)
            menjadi Rp500 (nilai penuh) per saham                                            to Rp500 (full amount) per share
            melalui stock split di tahun 2003               20.000.000.000                          through stock split in 2003
          Saham yang berasal dari konversi MSOP I
            pada tahun 2004                                    132.854.872          Shares from conversion of MSOP I in 2004
          Saham yang berasal dari konversi MSOP I
            pada tahun 2005                                    122.862.492          Shares from conversion of MSOP I in 2005
          Saham yang berasal dari konversi MSOP I
            pada tahun 2006                                     71.300.339          Shares from conversion of MSOP I in 2006
          Saham yang berasal dari konversi MSOP II
            pada tahun 2006                                    304.199.764          Shares from conversion of MSOP II in 2006
          Saham yang berasal dari konversi MSOP I
            pada tahun 2007                                     40.240.621          Shares from conversion of MSOP I in 2007
          Saham yang berasal dari konversi MSOP II
            pada tahun 2007                                          343.135        Shares from conversion of MSOP II in 2007
          Saham yang berasal dari konversi MSOP III
            pada tahun 2007                                     77.750.519         Shares from conversion of MSOP III in 2007
          Saham yang berasal dari konversi MSOP I
            pada tahun 2008                                      8.107.633          Shares from conversion of MSOP I in 2008
          Saham yang berasal dari konversi MSOP II
            pada tahun 2008                                          399.153        Shares from conversion of MSOP II in 2008
          Saham yang berasal dari konversi MSOP III
            pada tahun 2008                                    147.589.260         Shares from conversion of MSOP III in 2008
          Saham yang berasal dari konversi MSOP II
            pada tahun 2009                                           86.800        Shares from conversion of MSOP II in 2009
          Saham yang berasal dari konversi MSOP III
            pada tahun 2009                                     64.382.217         Shares from conversion of MSOP III in 2009
          Saham yang berasal dari konversi MSOP II
            pada tahun 2010                                      6.684.845          Shares from conversion of MSOP II in 2010
          Saham yang berasal dari konversi MSOP III
            pada tahun 2010                                     19.693.092      Shares from conversion of MSOP III in 2010
          Penambahan modal melalui PUT                                            Increase of Capital through Limited Public
            dengan HMETD pada tahun 2011                     2.336.838.591 Offering (LPO) with Pre-emptive Rights in 2011
          Penurunan nilai nominal saham dari                                                 Decrease of par value of share
            Rp500 (nilai penuh) menjadi                                                       from Rp500 (full amount) to
            Rp250 (nilai penuh) per saham                                                  Rp250 (full amount) per share
            melalui stock split di tahun 2017               23.333.333.333                      through stock split in 2017
          Penurunan nilai nominal saham dari                                            Decrease of par value of share from
            Rp250 (nilai penuh) menjadi                                                             Rp250 (full amount) to
            Rp125 (nilai penuh) per saham                                                  Rp125 (full amount) per share
            melalui stock split di tahun 2023               46.666.666.666                      through stock split in 2023
          Total                                             93.333.333.332                                                  Total



                                                       26
                                                                                                         ANNUAL REPORT 2023       1093
Page 587
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)

               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    f.   Penawaran umum obligasi dan medium term                     f.   Public offering of subordinated bonds and
                         notes subordinasi, penawaran umum obligasi                       medium term notes, public offering of bonds
                         dan medium term notes, penawaran umum                            and medium term notes, limited public offering
                         terbatas saham, perubahan modal saham                            of shares, changes in share capital of Bank
                         Bank Mandiri dan pembelian kembali saham                         Mandiri and repurchase of Bank Mandiri shares
                         Bank Mandiri (lanjutan)                                          (continued)

                         Perubahan     modal    saham     Bank    Mandiri                 Changes in share capital of Bank Mandiri
                         (lanjutan)                                                       (continued)

                         Pemecahan nilai nominal saham Bank Mandiri:                      Stock split of Bank Mandiri:

                         Berdasarkan keputusan RUPS-LB tanggal                            Based on the decision of the Extraordinary
                         21 Agustus 2017 yang dituangkan dalam Akta                       General Meeting of Shareholders (“RUPS-LB”)
                         No. 36, tanggal 24 Agustus 2017, yang dibuat di                  dated 21 August 2017 as in the Notarial Deed of
                         hadapan Ashoya Ratam S.H., M.Kn., pemegang                       Ashoya Ratam, S.H., M.Kn., No. 36 dated
                         saham Bank Mandiri antara lain menyetujui                        24 August 2017, the shareholders of Bank Mandiri,
                         pemecahan nilai nominal saham (stock split)                      approved the stock split of the Bank from Rp500
                         Bank dari Rp500 (nilai penuh) per saham menjadi                  (full amount) per share to Rp250 (full amount) per
                         Rp250 (nilai penuh) per saham sehingga modal                     share which resulted increase in capital into
                         ditempatkan menjadi sejumlah 46.666.666.666                      46,666,666,666 shares consisting of 1 (one)
                         lembar saham yang terdiri atas 1 (satu) lembar                   Dwiwarna Series A share and 46,666,666,665
                         saham Seri A Dwiwarna dan 46.666.666.665                         Series B shares.
                         lembar saham Seri B.

                         Berdasarkan keputusan RUPS Tahunan tanggal                       Based on the decision of the Annual General
                         14 Maret 2023 yang dituangkan dalam Akta                         Meeting of Shareholders (“RUPS”) dated 14 March
                         No. 12 tanggal 16 Maret 2023, yang dibuat di                     2023, as recorded in the Notarial Deed of Utiek R.
                         hadapan Utiek R. Abdurachman S.H., MLI.,                         Abdurachman S.H., MLI., M.Kn., No. 12 dated
                         M.Kn., pemegang saham Bank Mandiri antara                        16 March 2023, the shareholders of Bank Mandiri,
                         lain menyetujui pemecahan nilai nominal saham                    among others, approved a stock split of the bank
                         (stock split) Bank dari Rp250 (nilai penuh) per                  from Rp250 (full amount) per share to Rp125 (full
                         saham menjadi Rp125 (nilai penuh) per saham                      amount) per share. This results in an increase in
                         sehingga modal ditempatkan menjadi sejumlah                      the issued capital to a total of 93,333,333,332
                         93.333.333.332 lembar saham yang terdiri atas 1                  shares, consisting of 1 (one) Dwiwarna Series A
                         (satu) lembar saham Seri A Dwiwarna dan                          shares and 93,333,333,331 Series B common
                         93.333.333.331 lembar saham Seri B. Untuk                        shares. For the Dwiwarna Series A shares owned
                         saham Seri A Dwiwarna milik negara Republik                      by the Republic of Indonesia, 1 (one) share will be
                         Indonesia akan tetap dipertahankan 1 (satu)                      retained, and the remaining will be allocated to
                         saham dan sisanya akan diperhitungkan untuk                      increase the Series B common shares owned by
                         menambah saham Seri B milik Negara Republik                      the Republic of Indonesia. The stock split was
                         Indonesia. Pelaksanaan stock split berlaku efektif               effective on 6 April 2023.
                         pada tanggal 6 April 2023.

                         Pembelian kembali saham Bank Mandiri                             Repurchase of Bank Mandiri shares

                         Bank Mandiri melalui surat No. CEO/30/2020                       Bank Mandiri through letter No. CEO/30/2020
                         tanggal 18 Maret 2020 mengajukan permohonan                      dated 18 March 2020 submit a request of approval
                         persetujuan pelaksanaan pembelian kembali                        of treasury stock to FSA gradually with maximum
                         saham Bank Mandiri kepada OJK secara                             amount Rp2,000,000, and has been approved by
                         bertahap      sebanyak-banyaknya       sebesar                   FSA through letter No. S-50/PB.31/2020 dated
                         Rp2.000.000, dan telah disetujui oleh OJK                        19 March 2020. Furthermore, Bank Mandiri has
                         melalui surat No. S-50/PB.31/2020 tanggal                        declare this information to Indonesia Stock
                         19 Maret 2020. Selanjutnya, Bank Mandiri telah                   Exchange (“IDX”) on 20 March 2020 regarding
                         menyampaikan keterbukaan informasi kepada                        execution of treasury stock that had been issued
                         Bursa Efek Indonesia (“BEI”) tanggal 20 Maret                    and registered in IDX with maximum amount
                         2020 sehubungan dengan rencana pembelian                         Rp2,000,000. Treasury stock will be executed
                         kembali saham yang telah dikeluarkan dan                         gradually for 3 (three) months since 20 March
                         tercatat di BEI sebanyak-banyaknya sebesar                       2020 until 19 June 2020.
                         Rp2.000.000. Pembelian kembali tersebut akan
                         dilakukan secara bertahap untuk periode 3 (tiga)
                         bulan terhitung sejak tanggal 20 Maret 2020
                         sampai dengan tanggal 19 Juni 2020.



                                                                       27
1094 PT Bank Mandiri (Persero) Tbk
Page 588
 CORPORATE                           ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                             LAPORAN
                                                                                                                                      Financial
 GOVERNANCE                          & PRACTICES                               RESPONSIBILITY                                       KEUANGAN   2023
                                                                                                                                      Statements 2023


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                              (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                                   1.     GENERAL INFORMATION (continued)

     f.   Penawaran umum obligasi dan medium term                                       f.    Public offering of subordinated bonds and
          notes subordinasi, penawaran umum obligasi                                          medium term notes, public offering of bonds
          dan medium term notes, penawaran umum                                               and medium term notes, limited public offering
          terbatas saham, perubahan modal saham                                               of shares, changes in share capital of Bank
          Bank Mandiri dan pembelian kembali saham                                            Mandiri and repurchase of Bank Mandiri shares
          Bank Mandiri (lanjutan)                                                             (continued)

          Pembelian           kembali           saham     Bank       Mandiri                  Repurchase of Bank Mandiri shares (continued)
          (lanjutan)

          Bank Mandiri telah melakukan pembelian kembali                                      Bank Mandiri has executed repurchase of Bank
          saham sebanyak 35.400.000 lembar saham (nilai                                       Mandiri shares amounted 35,400,000 shares
          nominal Rp250 (nilai penuh) per lembar saham)                                       (nominal value Rp250 (full amount) per share) with
          dengan harga perolehan sebesar Rp150.895.                                           acquisition price Rp150,895. In December 2022,
          Pada bulan Desember 2022, Bank Mandiri telah                                        Bank Mandiri released 35,400,000 treasury shares
          melepaskan      saham     treasuri    sebanyak                                      (see Note 40d).
          35.400.000 lembar saham (lihat Catatan 40d).

     g.   Entitas Anak                                                                  g. Subsidiaries

          Entitas Anak yang tercakup dalam laporan                                            Subsidiaries included in the consolidated financial
          keuangan    konsolidasian pada   tanggal                                            statements as of 31 December 2023 and 2022, are
          31 Desember 2023 dan 2022 adalah sebagai                                            as follows:
          berikut:
                                                                                                  Persentase kepemilikan/
                                                                                                       Percentage of
                                                                                                        Ownership

                                                           Jenis Usaha/         Kedudukan/
                     Nama Entitas Anak                  Nature of Business       Domicile           2023          2022                Name of Subsidiaries

          PT Bank Syariah Indonesia Tbk.                 Perbankan syariah/                                                            PT Bank Syariah Indonesia Tbk.
           (dahulu PT Bank Syariah Mandiri)                  Sharia banking             Jakarta       51,47          51,47        (formerly PT Bank Syariah Mandiri)
                                                                 Perbankan/
          Bank Mandiri (Europe) Limited (BMEL)         Commercial banking               London       100,00         100,00        Bank Mandiri (Europe) Limited (BMEL)
          PT Mandiri Sekuritas                          Sekuritas/Securities            Jakarta       99,99          99,99                         PT Mandiri Sekuritas
          PT Bank Mandiri Taspen                                 Perbankan/                                                                    PT Bank Mandiri Taspen
           (dahulu PT Bank Mandiri Taspen Pos)         Commercial banking               Jakarta       51,10          51,10    (formerly PT Bank Mandiri Taspen Pos)
                                                     Pembiayaan konsumen/
          PT Mandiri Tunas Finance (MTF)                Consumer financing              Jakarta       51,00          51,00            PT Mandiri Tunas Finance (MTF)
          Mandiri International Remittance              Layanan remittance/                                                           Mandiri International Remittance
           Sendirian Berhad (MIR)                        Remittance service      Kuala Lumpur        100,00         100,00                  Sendirian Berhad (MIR)
                                                              Asuransi jiwa/
          PT AXA Mandiri Financial Services (AMFS)            Life insurance            Jakarta       51,00          51,00   PT AXA Mandiri Financial Services (AMFS)
                                                              Asuransi jiwa/
          PT Asuransi Jiwa Inhealth Indonesia                 Life insurance            Jakarta       80,00          80,00         PT Asuransi Jiwa Inhealth Indonesia
                                                     Pembiayaan konsumen/
          PT Mandiri Utama Finance (MUF)                Consumer financing              Jakarta       51,00          51,00           PT Mandiri Utama Finance (MUF)
                                                             Modal ventura/
          PT Mandiri Capital Indonesia (MCI)                 Venture capital            Jakarta       99,99          99,99          PT Mandiri Capital Indonesia (MCI)

          Total aset Entitas Anak tersebut pada tanggal                                       The Subsidiaries’ total assets as of 31 December
          31 Desember 2023 dan 2022 (sebelum eliminasi)                                       2023 and 2022 (before elimination) are as follows:
          masing-masing sebagai berikut:
                                                                Tahun
                                                             beroperasi
                                                              komersial/          Total aset (sebelum eliminasi)/
                                                               Year of           Total assets (before elimination)
                                                             commercial
                   Nama Entitas Anak                          operation               2023                 2022                    Name of Subsidiaries

          PT Bank Syariah Indonesia Tbk.                                                                                          PT Bank Syariah Indonesia Tbk.
           (dahulu PT Bank Syariah Mandiri)                      1955                 353.624.125          305.727.438        (formerly PT Bank Syariah Mandiri)
          Bank Mandiri (Europe) Limited                          1999                   4.047.572            3.765.899              Bank Mandiri (Europe) Limited
          PT Mandiri Sekuritas                                   1992                   4.725.946            4.141.024                        PT Mandiri Sekuritas
          PT Bank Mandiri Taspen                                                                                                         PT Bank Mandiri Taspen
           (dahulu PT Bank Mandiri Taspen Pos)                   1970                  60.537.057             53.894.750 (formerly PT Bank Mandiri Taspen Pos)
          PT Mandiri Tunas Finance                               1989                  29.727.392             23.742.009                PT Mandiri Tunas Finance
          Mandiri International Remittance                                                                                        Mandiri International Remittance
           Sendirian Berhad                                      2009                      24.393                 24.360                        Sendirian Berhad
          PT AXA Mandiri Financial Services                      1991                  41.114.472             40.164.675        PT AXA Mandiri Financial Services
          PT Asuransi Jiwa Inhealth Indonesia                    2008                   2.824.452              2.706.131     PT Asuransi Jiwa Inhealth Indonesia
          PT Mandiri Utama Finance                               2015                  10.625.581              7.612.738                PT Mandiri Utama Finance
          PT Mandiri Capital Indonesia                           2015                   5.155.131              5.774.807             PT Mandiri Capital Indonesia

          Total                                                                       512.406.121          447.553.831                                           Total




                                                                         28
                                                                                                                                      ANNUAL REPORT 2023                  1095
Page 589
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Bank Syariah Indonesia Tbk. (dahulu                          PT Bank Syariah Indonesia Tbk. (formerly
                         PT Bank Syariah Mandiri)                                        PT Bank Syariah Mandiri)

                         Pada tanggal 12 Oktober 2020, PT Bank Mandiri                   On 12 October 2020, PT Bank Mandiri (Persero)
                         (Persero) Tbk. (“Bank Mandiri”), PT Bank Rakyat                 Tbk. (“Bank Mandiri”), PT Bank Rakyat Indonesia
                         Indonesia (Persero) Tbk. (“BRI”), PT Bank                       (Persero) Tbk. (“BRI”), PT Bank Negara Indonesia
                         Negara Indonesia (Persero) Tbk. (“BNI”),                        (Persero) Tbk. (“BNI”), PT Bank Syariah Mandiri
                         PT Bank Syariah Mandiri (“BSM”), PT Bank                        (“BSM”), PT Bank BRIsyariah Tbk. (“BRIS”), and
                         BRIsyariah Tbk. (“BRIS”), dan PT Bank BNI                       PT Bank BNI Syariah (“BNIS”) have signed a
                         Syariah    (“BNIS”)    telah     menandatangani                 Conditional Merger Agreement (“CMA”) for the
                         Conditional Merger Agreement (“CMA”) atau                       business merger of BSM, BRIS, and BNIS (Merger
                         Perjanjian Penggabungan Bersyarat dalam                         Participating Banks).
                         rangka penggabungan usaha BSM, BRIS dan
                         BNIS (Bank Peserta Penggabungan).

                         Berdasarkan CMA, setelah tanggal efektif                        Based on CMA, after the effective date of the
                         penggabungan, BRIS akan menjadi entitas yang                    merger, BRIS will become the surviving legal entity
                         menerima penggabungan secara hukum atau                         and all shareholders of BNIS and BSM will become
                         surviving legal entity dan seluruh pemegang                     shareholders of the entity receiving the
                         saham BNIS dan BSM akan menjadi pemegang                        amalgamation based on the amalgamation ratio.
                         saham      dari   entitas    yang   menerima
                         penggabungan           berdasarkan      rasio
                         penggabungan.

                         Izin Penggabungan diperoleh dari OJK melalui                    The Merger Approval was obtained from the FSA
                         Salinan Keputusan Dewan Komisioner OJK                          through a copy of the Decree of the FSA Board of
                         No. 4/KDK.03/2021 tanggal 27 Januari 2021                       Commissioners      No.   4/KDK.03/2021    dated
                         tentang Pemberian Izin Penggabungan BSM dan                     27 January 2021 concerning the Granting of
                         BNIS ke dalam BRIS Serta Izin Perubahan Nama                    Permits to Merge BSM and BNIS into BRIS as well
                         dengan Menggunakan Izin Usaha PT Bank                           as Permits to Change Names by Using PT Bank
                         BRIsyariah Tbk Menjadi Izin Usaha Atas Nama                     BRIsyariah Tbk Business Permit to Become
                         PT Bank Syariah Indonesia Tbk Sebagai Bank                      Business Permit in the Name of PT Bank Syariah
                         Hasil Penggabungan.                                             Indonesia Tbk as the Merged Bank.

                         BRIS awalnya didirikan dengan nama PT Bank                      BRIS was initially established under the name of
                         Jasa Arta (“BJA”) berdasarkan Akta Pendirian                    PT Bank Jasa Arta (“BJA”) based on the Deed of
                         No. 4 tanggal 3 April 1969 yang dibuat dihadapan                Establishment No. 4 dated 3 April 1969 of Liem
                         Liem Toeng Kie, S.H., notaris di Jakarta. Akta                  Toeng Kie, S.H., notary in Jakarta. The deed has
                         pendirian ini disahkan oleh Menteri Kehakiman                   been approved by the Minister of Law of Republic
                         Republik Indonesia dalam Surat Keputusan                        of Indonesia in its Decision Letter No. J.A.5/70/4
                         No. J.A.5/70/4 tanggal 28 Mei 1970 dan telah                    dated 28 May 1970 and has been published in the
                         diumumkan dalam Berita Negara Republik                          State Gazette of Republic of Indonesia No. 43
                         Indonesia No. 43 tanggal 28 Mei 1971,                           dated 28 May 1971, Supplement No. 242/1971.
                         Tambahan No. 242/1971.

                         BJA memperoleh izin usaha untuk beroperasi                      BJA obtained its business license to operate as a
                         sebagai bank umum dari Menteri Keuangan                         commercial bank from Minister of Finance of the
                         Republik Indonesia No. D.15.1-4-40 tanggal                      Republic of Indonesia No. D.15.1-4-40 dated
                         3 Juli 1969. Sejak tanggal 16 Oktober 2008, BJA                 3 July 1969. Since 16 October 2008, BJA has
                         telah memperoleh izin perubahan kegiatan usaha                  obtained license from Bank Indonesia to change its
                         bank, dari konvensional menjadi bank umum                       business activities, from a conventional bank into a
                         yang melaksanakan kegiatan usaha berdasarkan                    commercial bank based on sharia principles. The
                         prinsip syariah dari Bank Indonesia. Perubahan                  changes in name and business activity based on
                         nama dan kegiatan usaha berdasarkan prinsip                     sharia principles from BJA to PT Bank Syariah BRI
                         syariah dari BJA menjadi PT Bank Syariah BRI                    was based on BJA Shareholders’ Decision
                         didasarkan     pada    Pernyataan     Keputusan                 Statement, as stated in the Deed No. 45 dated
                         Persetujuan Bersama Seluruh Pemegang Saham                      22 April 2008 of Fathiah Helmi, S.H., notary in
                         Perseroan Terbatas BJA, sesuai dengan Akta                      Jakarta.
                         No. 45 tanggal 22 April 2008 yang dibuat di
                         hadapan Fathiah Helmi, S.H., notaris di Jakarta.




                                                                      29
1096 PT Bank Mandiri (Persero) Tbk
Page 590
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

          PT Bank Syariah Indonesia Tbk. (dahulu                          PT Bank Syariah Indonesia Tbk. (formerly
          PT Bank Syariah Mandiri) (lanjutan)                             PT Bank Syariah Mandiri) (continued)

          Pada tahun 2009, PT Bank Syariah BRI                            In 2009, PT Bank Syariah BRI changed its name to
          melakukan perubahan nama menjadi PT Bank                        PT Bank BRISyariah based on PT Bank Syariah
          BRISyariah sesuai dengan Akta Keputusan                         BRI Shareholders’ Decision Statement, as stated
          Persetujuan Bersama Seluruh Pemegang Saham                      in Notarial Deed No. 18 dated 14 April 2009 made
          PT Bank Syariah BRI No. 18 tanggal 14 April                     before Fathiah Helmi, S.H., notary in Jakarta which
          2009 dibuat dihadapan Fathiah Helmi, S.H.,                      was subsequently amended by PT Bank Syariah
          notaris di Jakarta yang selanjutnya diubah                      BRI Shareholders’ Decision Statement, as stated
          dengan Akta Keputusan Persetujuan Bersama                       in Notarial Deed No. 20 dated 17 September 2009
          Seluruh Pemegang Saham PT Bank Syariah BRI                      made before Fathiah Helmi, S.H., notary in
          No. 20 tanggal 17 September 2009, dibuat                        Jakarta, which has been approved by the
          dihadapan Fathiah Helmi, S.H., notaris di                       Minister of Law and Human Rights of the
          Jakarta, yang telah mendapat persetujuan dari                   Republic of Indonesia in its Decision Letter
          Menteri Hukum dan Hak Asasi Manusia                             No.       AHU-53631.AH.01.02.TH2009           dated
          Republik Indonesia dalam Surat Keputusan                        5 November 2009. It was announced in the State
          No.     AHU-53631.AH.01.02.TH2009       tanggal                 Gazette of the Republic of Indonesia No. 96 dated
          5 November 2009 yang telah diumumkan dalam                      1 December 2009, Supplement No. 27908 and
          Berita Negara Republik Indonesia No. 96 tanggal                 Decision Letter from the Governor of Bank
          1 Desember 2009, Tambahan No. 27908 dan                         Indonesia No. 11/63/KEP.GBI/DpG/2009 dated
          Surat Keputusan Gubernur Bank Indonesia                         15 December 2009.
          No.      11/63/KEP.GBI/DpG/2009         tanggal
          15 Desember 2009.

          Pada tanggal 27 Desember 2013, PT Bank                          On 27 December 2013, PT Bank BRISyariah
          BRISyariah mendapatkan izin sebagai bank                        obtained a license to operate as foreign
          devisa berdasarkan surat keputusan Gubernur                     exchange bank based on the Decision Letter of the
          Bank Indonesia No. 15/139/KEP.GBI/DpG/2013.                     Governor        of       Bank         Indonesia
                                                                          No. 15/139/KEP.GBI/DpG/2013.

          Perjanjian Antar Pemegang Saham Bank Hasil                      Agreement between Shareholders of the Merged
          Penggabungan tanggal 26 Januari 2021 oleh dan                   Bank dated 26 January 2021 by and between
          antara PT Bank Mandiri (Persero) Tbk (“Bank                     PT Bank Mandiri (Persero) Tbk. (“Bank Mandiri”),
          Mandiri”), PT Bank Negara Indonesia (Persero)                   PT Bank Negara Indonesia (Persero) Tbk (“BNI”),
          Tbk (“BNI”), dan PT Bank Rakyat Indonesia                       and PT Bank Rakyat Indonesia (Persero) Tbk.
          (Persero) Tbk (“BRI”) menyetujui bahwa Bank                     (“BRI”) agreed that Bank Mandiri is a party who
          Mandiri merupakan pihak yang melakukan                          exercises control over the Merged Bank.
          Pengendalian atas Bank Hasil Penggabungan.

          Selanjutnya keputusan RUPSLB BRIS terkait                       Subsequently, the decision of the BRIS’ EGMS
          penggabungan BSM dan BNIS kedalam BRIS                          regarding the merger of BSM and BNIS into BRIS
          dinyatakan kembali dalam Akta Pernyataan                        was restated in the Deed of Statement of Meeting
          Keputusan Rapat PT Bank BRIsyariah Tbk                          Resolutions of PT Bank BRIsyariah Tbk. No. 37
          No. 37 tanggal 14 Januari 2021 yang dibuat                      dated 14 January 2021 made by Notary Jose Dima
          dihadapan Notaris Jose Dima Satria S.H., M.Kn.,                 Satria S.H., M.Kn., notary in Jakarta. This
          notaris di Jakarta. Perubahan ini telah diterima                amendment was accepted and recorded by the
          dan dicatat oleh Menteri Hukum dan Hak Asasi                    Minister of Law and Human Rights of the Republic
          Manusia Republik Indonesia No.AHU-AH.01.10-                     of Indonesia No.AHU-AH.01.10-0011384 dated
          0011384 tanggal 28 Januari 2021 yang berlaku                    28 January 2021 which was effective on
          efektif 1 Februari 2021.                                        1 February 2021.




                                                       30
                                                                                                       ANNUAL REPORT 2023        1097
Page 591
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Bank Syariah Indonesia Tbk. (dahulu                          PT Bank Syariah Indonesia Tbk. (formerly
                         PT Bank Syariah Mandiri) (lanjutan)                             PT Bank Syariah Mandiri) (continued)

                         Transaksi pembentukan PT Bank Syariah                           The transaction for the establishment of PT Bank
                         Indonesia Tbk tersebut merupakan kombinasi                      Syariah Indonesia Tbk is a business combination
                         bisnis entitas sepengendali dimana pemegang                     of entities under common control where the
                         saham pengendali (ultimate shareholder) dari                    controlling shareholder (ultimate shareholder) of
                         Bank Mandiri, BNI dan BRI adalah Pemerintah                     Bank Mandiri, BNI and BRI is the Government of
                         Republik Indonesia. Oleh karena itu, transaksi                  the Republic of Indonesia. Therefore, transactions
                         diperlakukan berdasarkan metode penyatuan                       are treated based on the pooling of interest method
                         kepemilikan    sesuai     Pernyataan    Standar                 in accordance with Statement of Financial
                         Akuntansi Keuangan (“PSAK”) No. 38 (Revisi                      Accounting Standards (“SFAS”) No. 38 (Revised
                         2012), “Kombinasi Bisnis Entitas Sepengendali”.                 2012), “Business Combination of Entities Under
                                                                                         Common Control”.

                         Perbedaan antara jumlah imbalan yang dialihkan                  The difference between the amount of
                         dan jumlah tercatat investasi yang diperoleh dari               consideration transferred and the carrying amount
                         transaksi ini diakui sebagai “Selisih Nilai                     of the investment obtained from this transaction is
                         Transaksi      Kombinasi        Bisnis     Entitas              recognized as “Difference in Value from Business
                         Sepengendali” dan disajikan sebagai bagian                      Combination Transactions of Entities Under
                         "Tambahan Modal Disetor" di bagian ekuitas                      Common Control” and presented as “Additional
                         pada laporan posisi keuangan konsolidasian.                     Paid-in Capital” in the equity section of the
                         Ekuitas dari PT BRIsyariah Tbk dan PT Bank BNI                  consolidated statement of financial position. Prior
                         Syariah     sebelum     tanggal    penggabungan                 to the date of the merger, the equity of
                         disajikan sebagai “ekuitas merging entities” pada               PT BRIsyariah Tbk. and PT Bank BNI Syariah is
                         bagian ekuitas. Rincian jumlah imbalan yang                     presented as “merging entities equity” in the equity
                         dialihkan dan jumlah tercatat yang diperoleh                    section. Details of the amount of consideration
                         adalah sebagai berikut:                                         transferred and the carrying amount received are
                                                                                         as follows:

                                                               Jumlah           Jumlah
                                                            imbalan yang         tercatat
                                                              dialihkan/       investasi/        Tambahan
                                                                 The          Investment        modal disetor/
                                                            consideration       carrying          Additional
                                                             transferred        amount          paid-in capital

                         PT Bank Syariah Indonesia Tbk.         10.905.424         11.232.496          327.072 PT Bank Syariah Indonesia Tbk.

                         Selanjutnya keputusan RUPSLB BRIS antara lain                   Furthermore, the decisions of the BRIS' EGMS,
                         terkait Perubahan Anggaran Dasar Bank                           among others related to the Amendment to the
                         dinyatakan kembali dalam Akta Pernyataan                        Bank's Articles of Association, were restated in the
                         Keputusan Rapat Perubahan Anggaran Dasar                        Deed of Statement of Meeting Resolutions on the
                         Perubahan Nama PT Bank BRIsyariah Tbk                           Amendment of the Articles of Association for the
                         No. 38 tanggal 14 Januari 2021 yang dibuat                      Change of Name of PT Bank BRIsyariah Tbk.
                         dihadapan Jose Dima Satria S.H., M.Kn., notaris                 No. 38 dated 14 January 2021 made before Jose
                         di Jakarta yang antara lain perubahan nama                      Dima Satria S.H., M.Kn., notary in Jakarta, which,
                         menjadi PT Bank Syariah Indonesia Tbk dan                       among others, changed its name to PT Bank
                         perubahan ini telah mendapat persetujuan                        Syariah Indonesia Tbk. and this change was
                         Menteri Hukum dan Hak Asasi Manusia Republik                    approved by the Minister of Law and Human
                         Indonesia No. AHU-0006268.AH.01.02 tahun                        Rights of the Republic of Indonesia No. AHU-
                         2021, dan telah diterima dan dicatatkan Menteri                 0006268.AH.01.02 year 2021, and by the Minister
                         Hukum dan Hak Asasi Manusia Republik                            of Law and Human Rights of the Republic of
                         Indonesia No. AHU-AH.01.03.0061498 dan                          Indonesia     No.    AHU-AH.01.03.061498        and
                         No. AHU–AH.01.03.0061501 yang seluruhnya                        No. AHU-AH.01.03.061501 which are all set on
                         ditetapkan tanggal 1 Februari 2021.                             1 February 2021.




                                                                       31
1098 PT Bank Mandiri (Persero) Tbk
Page 592
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

          PT Bank Syariah Indonesia Tbk. (dahulu                          PT Bank Syariah Indonesia Tbk. (formerly
          PT Bank Syariah Mandiri) (lanjutan)                             PT Bank Syariah Mandiri) (continued)

          Selanjutnya perubahan Anggaran Dasar BRIS                       Furthermore, changes to the BRIS’ Articles of
          melalui Akta Pernyataan Perubahan Anggaran                      Association through the Deed of Statement of
          Dasar PT Bank Syariah Indonesia Tbk No. 146                     Amendment to the Articles of Association of
          tanggal 24 Juni 2022 yang dibuat dihadapan                      PT Bank Syariah Indonesia Tbk. No. 146 dated
          Jose Dima Satria S.H., M.Kn., notaris di Jakarta                24 June 2022 made before Jose Dima Satria, S.H.,
          mengenai penambahan klasifikasi saham Entitas                   M.Kn., notary in Jakarta, regarding the addition of
          Anak sehingga mengakibatkan Perubahan                           the classification of the Subsidiary’s shares
          Komposisi Kepemilikan Entitas Anak dan                          resulting in a Change in the Composition of
          Perubahan Pengendalian dari Negara Republik                     Subsidiary’s Ownership and a Change in Control
          Indonesia yang semula Pemegang Saham                            from the Republic of Indonesia which was originally
          Pengendali Terakhir (PSPT) menjadi Pemegang                     Ultimate Controlling Shareholders (PSPT) to
          Saham Pengendali (PSP) dan telah diterima dan                   Controlling Shareholders (PSP) and has been
          dicatat oleh Menteri Hukum dan Hak Asasi                        accepted and recorded by the Minister of Law and
          Manusia Republik Indonesia No. AHU-AH.01.03-                    Human Rights of the Republic of Indonesia No.
          0269107 tanggal 22 Juli 2022 perihal                            AHU-AH.01.03-0269107 dated 22 July 2022
          Penerimaan      Pemberitahuan        Perubahan                  regarding    Acceptance      of   Notification   of
          Anggaran Dasar PT Bank Syariah Indonesia Tbk.                   Amendments to the Articles of Association of
                                                                          PT Bank Syariah Indonesia Tbk.

          Selanjutnya perubahan Anggaran Dasar Entitas                    Furthermore, the latest changes to the Subsidiary’s
          Anak     terakhir  melalui   Akta    Pernyataan                 Articles of Association through the Deed of
          Keputusan Rapat Dewan Komisaris PT Bank                         Statement of Resolutions of the Board of
          Syariah Indonesia Tbk No. 191 tanggal                           Commissioners Meeting of PT Bank Syariah
          29 Desember 2022 dibuat dihadapan Muhammad                      Indonesia Tbk. No. 191 dated 29 December 2022
          Muazzir, S.H., M.Kn., sebagai pengganti dari                    made before Muhammad Muazzir, S.H., M.Kn., as
          Jose Dima Satria S.H., M.Kn., notaris di Jakarta                a replacement for Jose Dima Satria S.H., M.Kn.,
          mengenai       modal ditempatkan dan disetor                    notary in Jakarta regarding the issued and paid-up
          PT Bank Syariah Indonesia Tbk. melalui                          capital of PT Bank Syariah Indonesia Tbk. through
          mekanisme       Penambahan     Modal     dengan                 the Capital Increase mechanism by Providing Pre-
          Memberikan Hak Memesan Efek Terlebih Dahulu                     emptive Rights I ("PMHMETD I"), which is
          I ("PMHMETD I"), yaitu modal ditempatkan dan                    PT Bank Syariah Indonesia Tbk.'s issued and paid-
          disetor PT Bank Syariah Indonesia Tbk. menjadi                  up capital become 46,129,260,138 (forty six billion
          sebanyak 46.129.260.138 (empat puluh enam                       one hundred and twenty nine million two hundred
          miliar seratus dua puluh sembilan juta dua ratus                sixty thousand one hundred thirty eight) shares
          enam puluh ribu seratus tiga puluh delapan)                     with a total nominal value of Rp23,064,630 and
          lembar saham dengan nilai nominal seluruhnya                    have been received and recorded by the Minister
          sebesar Rp23.064.630 dan telah diterima dan                     Law and Human Rights of the Republic of
          dicatat oleh Menteri Hukum dan Hak Asasi                        Indonesia No. AHU-AH.01.03-0497431 dated
          Manusia Republik Indonesia No. AHU-AH.01.03-                    29 December 2022 regarding Acceptance of
          0497431 tanggal 29 Desember 2022 perihal                        Notification of Amendments to the Articles of
          Penerimaan        Pemberitahuan       Perubahan                 Association of PT Bank Syariah Indonesia Tbk.
          Anggaran Dasar PT Bank Syariah Indonesia Tbk.

          Kantor Pusat PT Bank Syariah Indonesia Tbk.                     The Head Office of PT Bank Syariah Indonesia
          beralamat di Gedung The Tower Jalan Gatot                       Tbk, is located at The Tower Building, Jalan Gatot
          Subroto No. 27, Kel. Karet Semanggi, Kec.                       Subroto No. 27, Karet Semanggi Sub-district,
          Setiabudi, Jakarta Selatan 12930.                               Setiabudi District, South Jakarta 12930.




                                                       32
                                                                                                       ANNUAL REPORT 2023        1099
Page 593
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS

                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         Bank Mandiri (Europe) Limited                                   Bank Mandiri (Europe) Limited

                         Bank Mandiri (Europe) Limited (“BMEL”) didirikan                Bank Mandiri (Europe) Limited (“BMEL”) was
                         di London, Inggris pada tanggal 22 Juni 1999                    established in London, United Kingdom on 22 June
                         berdasarkan “The Companies Act 1985 of the                      1999 based on “The Companies Act 1985 of the
                         United Kingdom”. BMEL didirikan melalui                         United Kingdom”. BMEL was established through
                         konversi dari Bank Exim cabang London menjadi                   the conversion of the London branch of Bank Exim
                         Entitas Anak yang dimiliki penuh oleh Bank                      into a wholly owned Subsidiary of Bank Mandiri
                         Mandiri     dan    efektif   beroperasi    sejak                and has been operating effectively since 31 July
                         31 Juli 1999. Sebagai Entitas Anak yang memiliki                1999. As a Subsidiary that has a Commercial Bank
                         lisensi Bank Komersial di United Kingdom, BMEL                  license in the United Kingdom, BMEL is supervised
                         disupervisi oleh Prudential Regulation Authority                by the Prudential Regulation Authority (“PRA”) and
                         (“PRA”) dan Financial Conduct Authority (“FCA”)                 The Financial Conduct Authority (“FCA”) is under
                         dibawah naungan Bank of England serta HM                        the supervision of the Bank of England and HM
                         Treasury of the United Kingdom.                                 Treasury of the United Kingdom.

                         PT Mandiri Sekuritas                                            PT Mandiri Sekuritas

                         PT Mandiri Sekuritas (”Mandiri Sekuritas”),                     PT Mandiri Sekuritas ("Mandiri Sekuritas"),
                         dahulu bernama PT Merincorp Securities                          formerly known as PT Merincorp Securities
                         Indonesia (“MSI”), didirikan berdasarkan Akta                   Indonesia ("MSI"), incorporated under Act No. 1
                         No. 1 tanggal 2 Desember 1991 yang dibuat di                    dated 2 December 1991 made before notary
                         hadapan Notaris Sutjipto, S.H. Mandiri Sekuritas                Sutjipto, S.H. Mandiri Sekuritas is the result of the
                         merupakan hasil penggabungan usaha PT Bumi                      merger of PT Bumi Daya Sekuritas ("BDS"),
                         Daya Sekuritas (“BDS”), PT Exim Sekuritas                       PT Exim Sekuritas ("ES") and PT Merincorp
                         (“ES”) dan PT Merincorp Securities Indonesia                    Securities    Indonesia     ("MSI")     which    was
                         (“MSI”) yang ditempuh dengan cara meleburkan                    accomplished by merging BDS and ES into MSI.
                         BDS dan ES ke dalam MSI. MSI memperoleh izin                    MSI obtained a license as a securities broker and
                         usaha sebagai perantara perdagangan portofolio                  underwriter of the securities portfolio from the
                         efek dan penjamin emisi portofolio efek dari                    Chairman of the Capital Market Supervisory
                         Ketua    Badan    Pengawas       Pasar   Modal                  Agency ("Bapepam") by its decree letter
                         (“Bapepam”) berdasarkan surat keputusan                         No. KEP-12/PM/1992 and No. KEP-13/PM/1992
                         No. KEP-12/PM/1992 dan No. KEP-13/PM/1992                       and started its operational activities on 23 January
                         dan memulai kegiatan operasionalnya pada                        1992. The merger was based on the Deed
                         tanggal 23 Januari 1992. Penggabungan usaha                     No. 116 dated 31 July 2000 made before Notary
                         tersebut berdasarkan Akta No. 116 tanggal                       Ny. Vita Buena, S.H., and which was approved by
                         31 Juli 2000 yang dibuat di hadapan Notaris                     the Minister of Law and Legislation of the Republic
                         Ny. Vita Buena, S.H., yang telah disetujui oleh                 of Indonesia on 25 August 2000 by Decree
                         Menteri Hukum dan Perundang-undangan                            No. C-18762.HT.01.01-TH.2000 and business
                         Republik Indonesia pada tanggal 25 Agustus                      permits obtained previously by MSI can still be
                         2000      berdasarkan      Surat     Keputusan                  used by PT Mandiri Sekuritas.
                         No. C-18762.HT.01.04-TH.2000 dan izin usaha
                         yang diperoleh MSI sebelumnya masih bisa tetap
                         digunakan oleh PT Mandiri Sekuritas.

                         PT Mandiri Sekuritas memiliki 99,93% dari total                 PT Mandiri Sekuritas owns 99.93% of total shares
                         saham PT Mandiri Manajemen Investasi, Entitas                   of PT Mandiri Manajemen Investasi, a Subsidiary
                         Anak yang didirikan tanggal 26 Oktober 2004 dan                 that was established on 26 October 2004 and is
                         bergerak di bidang manajemen dan penasehat                      engaged in investment management and advisory.
                         investasi. Mandiri Sekuritas juga memiliki 100%                 Mandiri Sekuritas also owns 100% of the total
                         dari total saham Mandiri Securities Pte. Ltd.,                  shares of Mandiri Securities Pte. Ltd., a company
                         perusahaan yang memperoleh lisensi layanan                      engage a capital market service license for the
                         pasar modal untuk jenis usaha “Dealing in                       business type "Dealing in Securities and Advising
                         Securities and Advising Corporate Finance and                   Corporate Finance and Monetary Authority of
                         Monetary Authority of Singapore” berdasarkan                    Singapore" based on license No. CMS100566-1
                         lisensi No. CMS100566-1 tanggal 10 November                     dated 10 November 2016.
                         2016.




                                                                      33
1100 PT Bank Mandiri (Persero) Tbk
Page 594
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023

                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)

1.   INFORMASI UMUM (lanjutan)                                   1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                       g. Subsidiaries (continued)

          PT Mandiri Sekuritas (lanjutan)                                   PT Mandiri Sekuritas (continued)

          Pada tanggal 28 Desember 2012, Bank Mandiri                       On 28 December 2012, Bank Mandiri increased its
          melakukan penambahan penyertaan modal                             capital investment in form of cash at Mandiri
          dalam bentuk tunai pada Mandiri Sekuritas,                        Sekuritas, amounted to Rp29,512. Bank Mandiri
          sebesar      Rp29.512.      Bank    Mandiri  telah                obtained approval from Bank Indonesia through its
          memperoleh persetujuan dari Bank Indonesia                        letter dated 31 October 2012 and the circular
          melalui surat tertanggal 31 Oktober 2012 dan                      resolution of shareholders dated 27 December
          Keputusan Pemegang Saham Di Luar Rapat                            2012 for the capital investment increment. After the
          (circular resolution) tertanggal 27 Desember 2012                 execution of the additional capital investment, the
          atas penambahan penyertaan modal tersebut.                        Bank's ownership at Mandiri Sekuritas increased
          Setelah        dilaksanakannya        penambahan                  from 95.69% to 99.99% of the total shares issued
          penyertaan modal tersebut, porsi kepemilikan                      by Mandiri Sekuritas.
          Bank Mandiri pada Mandiri Sekuritas meningkat
          dari 95,69% menjadi 99,99% dari total seluruh
          saham yang telah dikeluarkan Mandiri Sekuritas.

          PT Bank Mandiri Taspen                                            PT Bank Mandiri Taspen

          PT Bank Sinar Harapan Bali (“BSHB”) didirikan                     PT Bank Sinar Harapan Bali ("BSHB") was
          sebagai     Bank     Pasar      pada    tanggal                   established as the Micro Banking on 23 February
          23 Februari 1970 dengan nama MAI Bank Pasar                       1970 under the name MAI Bank Pasar Sinar
          Sinar Harapan Bali, kemudian pada tanggal                         Harapan Bali, then on 3 November 1992 the Bank
          3 November 1992 Bank ini mengalami perubahan                      transformed into Limited Liability Company based
          bentuk badan hukum menjadi Perseroan                              on Deed No. 4 made before notary Ida Bagus Alit
          Terbatas berdasarkan Akta No. 4 yang dibuat                       Sudiatmika, S.H., Notary in Denpasar and obtained
          dihadapan Ida Bagus Alit Sudiatmika, S.H.,                        a business license as a commercial bank under the
          notaris di Denpasar dan memperoleh izin usaha                     decree letter of the Minister of Finance of the
          sebagai Bank Umum berdasarkan surat                               Republic of Indonesia No. 77/KMK.017/1994 dated
          keputusan Menteri Keuangan Republik Indonesia                     10 March 1994. On 3 May 2008, shareholders of
          No. 77/KMK.017/1994 tanggal 10 Maret 1994.                        BSHB and Bank Mandiri signed the acquisition
          Pada tanggal 3 Mei 2008 dilangsungkan                             deed as stated in the Acquisition Deed No. 4 dated
          penandatanganan       Akta    Akuisisi   antara                   3 May 2008 made before notary I Wayan Sugitha,
          pemegang saham BSHB dan Bank Mandiri,                             S.H., notary in Denpasar. The signing of the
          sebagaimana tertuang dalam Akta Akuisisi No. 4                    Acquisition deed is the beginning of Bank Mandiri's
          tanggal 3 Mei 2008 dibuat oleh I Wayan Sugitha,                   ownership of 80.00% BSHB shares, wherein the
          S.H., Notaris di Denpasar. Penandatanganan                        management of BSHB will be carried out
          Akta Akuisisi ini menandai awal kepemilikan                       separately from Bank Mandiri as a stand-alone
          Bank Mandiri atas 80,00% saham BSHB, dimana                       bank with the main focus on developing Micro and
          selanjutnya pengelolaan BSHB akan dilakukan                       Small Businesses.
          secara terpisah dari Bank Mandiri sebagai bank
          yang tetap berdiri sendiri (stand-alone bank)
          dengan fokus utama pada pengembangan bisnis
          Mikro dan Usaha Kecil.

          Pada tanggal 24 Juli 2015, OJK telah menyetujui                   On 24 July 2015, the FSA has approved the name
          perubahan nama PT Bank Sinar Harapan Bali                         changes of PT Bank Sinar Harapan Bali to
          menjadi PT Bank Mandiri Taspen Pos dan                            PT Bank Mandiri Taspen Pos and given
          memberikan izin untuk melakukan kegiatan                          permission to conduct business under the name of
          usaha dengan nama Bank Mantap. Perubahan                          Bank Mantap. Name and logo changes approved
          nama disertai pula izin perubahan logo dari OJK                   by FSA on 31 July 2015 and announced to public
          pada tanggal 31 Juli 2015. Perubahan nama dan                     on 7 August 2015.
          logo tersebut telah diumumkan kepada publik
          pada tanggal 7 Agustus 2015.

          Pada tanggal 9 Oktober 2017, Bank Mandiri                         On 9 October 2017, Bank Mandiri Taspen Pos
          Taspen Pos mengadakan RUPSLB yang                                 held an Extraordinary General Meeting of
          menyetujui perubahan komposisi pemegang                           Shareholders which approved the changes in the
          saham dan perubahan nama dari semula                              composition of shareholders and the changes of
          bernama PT Bank Mandiri Taspen Pos menjadi                        name, from PT Bank Mandiri Taspen Pos to
          PT Bank Mandiri Taspen (“Bank Mantap”).                           PT Bank Mandiri Taspen (“Bank Mantap”).



                                                        34
                                                                                                         ANNUAL REPORT 2023        1101
Page 595
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Bank Mandiri Taspen (lanjutan)                               PT Bank Mandiri Taspen (continued)

                         Untuk menguatkan ekspansi usaha dan menjadi                     To expand the business and become National
                         Bank Nasional yang memiliki jaringan usaha di                   Bank that have branches all over Indonesia, based
                         seluruh     pelosok    Indonesia,  berdasarkan                  on Deed of General Meeting of Shareholders
                         Keputusan Rapat Umum Pemegang Saham                             Decision No. 53 dated 31 October 2016 made by
                         No. 53 tanggal 31 Oktober 2016 dari Notaris I                   Notary I Gusti Ngurah Putra Wijaya, S.H, notary in
                         Gusti Ngurah Putra Wijaya, S.H., Notaris di                     Denpasar as affirmed by Meeting Affirmation
                         Denpasar, yang mana kemudian ditegaskan                         Decision No. 7 dated 5 March 2019 regarding
                         dengan Penegasan Keputusan Rapat No. 7                          Transfer of Bank’s Head Office Location. The Deed
                         tanggal 5 Maret 2019 mengenai Pemindahan                        has been submitted to Ministry of Law and Human
                         Kedudukan Kantor Pusat Bank. Akta perubahan                     Right of Republic of Indonesia as stated on
                         tersebut telah dilaporkan kepada Menteri Hukum                  notification acceptance letter of the change of the
                         dan Hak Asasi Manusia Republik Indonesia                        Company’s Information dated 11 March 2019
                         sebagaimana surat penerimaan pemberitahuan                      No. AHU-AH.01.03.-138220 and registered on the
                         perubahan data Perseroan tertanggal 11 Maret                    Company register No. AHU-0039461.AH.01.11
                         2019 No. AHU-AH.01.03-138220 dan telah                          year 2019 dated 11 March 2019. The Change of
                         didaftarkan pada daftar Perseroan No. AHU-                      Bank’s Article of Association has also been
                         0039461. AH.01.11 Tahun 2019 tanggal 11 Maret                   approved based on the Decree of Ministry of Law
                         2019. Perubahan Anggaran Dasar tersebut juga                    and Human Right of Republic Indonesia
                         telah disetujui berdasarkan Keputusan Menteri                   No. AHU-0012925.AH.01.02 year 2019 regarding
                         Hukum dan Hak Asasi Manusia Republik                            Approval of Amendments to the Article of
                         Indonesia No. AHU-0012925.AH.01.02 Tahun                        Association of PT Bank Mandiri Taspen and has
                         2019 tentang Persetujuan Perubahan Anggaran                     received approval from FSA No. S-5/PB.1/2019
                         Dasar Perseroan Terbatas PT Bank Mandiri                        dated 28 January 2019 regarding Separation and
                         Taspen serta telah mendapat persetujuan dari                    Transfer of Head Office Location Plan, Bank
                         Otoritas Jasa Keuangan No. S-5/PB.1/2019                        Mantap transfer their Head Office from Denpasar-
                         tanggal 28 Januari 2019 tentang Rencana                         Bali to Central Jakarta. The head office relocation
                         Pemisahan dan Pemindahan Alamat Kantor                          was then carried out effectively on 11 March 2019.
                         Pusat (“KP”), Bank Mantap memindahkan Kantor
                         Pusatnya yang semula berkedudukan dan
                         berkantor pusat di Denpasar-Bali menjadi
                         berkedudukan dan berkantor pusat di Jakarta
                         Pusat. Perpindahan kantor pusat tersebut
                         kemudian dilaksanakan secara efektif pada
                         tanggal 11 Maret 2019.

                         Berdasarkan Keputusan Sirkuler Pemegang                         Based on Circular Decision of Shareholder
                         Saham PT Bank Mandiri Taspen tanggal                            PT Bank Mandiri Taspen dated 16 December 2020
                         16 Desember 2020 sebagaimana telah                              as stated on Deed of General Meeting of
                         dituangkan dalam Akta Pernyataan Keputusan                      Shareholders       Resolutions    No.    41   dated
                         Rapat No. 41 tanggal 28 Desember 2020,                          28 December 2020, the ownership of Bank Mandiri
                         komposisi kepemilikan saham Bank Mandiri di                     in Bank Mantap become 51.098%, PT Taspen
                         Bank Mantap menjadi 51,098% dan saham                           (Persero) became 48.437%, and individual
                         PT Taspen (Persero) menjadi 48,437% serta                       ownership became 0.465%. The change in the
                         pemegang saham individual menjadi 0,465%.                       composition of share ownership has been effective
                         Perubahan komposisi kepemilikan saham
                                                                                         since 13 January 2021 with the approval and
                         tersebut berlaku efektif sejak tanggal 13 Januari
                                                                                         receipt of notification of the changes to the Article
                         2021 dengan didapatkannya persetujuan dan
                                                                                         of Association of PT Bank Mandiri Taspen from
                         penerimaan pemberitahuan perubahan Anggaran
                         Dasar PT Bank Mandiri Taspen dari Kementerian                   Ministry Law and Human Right regarding the
                         Hukum dan HAM terkait perubahan modal dasar,                    changes in authorized capital, issued capital and
                         modal ditempatkan dan modal disetor, serta dari                 paid-up in capital, and from administrative
                         sisi administratif dengan dilakukannya laporan                  perspective, by reporting to FSA about the Change
                         perubahan komposisi permodalan ke Otoritas                      of the Shareholder Composition.
                         Jasa Keuangan.




                                                                      35
1102 PT Bank Mandiri (Persero) Tbk
Page 596
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                           KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                  1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                      g. Subsidiaries (continued)

          PT Bank Mandiri Taspen (lanjutan)                                PT Bank Mandiri Taspen (continued)

          Sebelum tanggal 1 Januari 2011, goodwill yang                    Prior to 1 January 2011, goodwill arising from the
          timbul dari akuisisi PT Bank Mandiri Taspen                      acquisition of PT Bank Mandiri Taspen amounted
          sebesar     Rp19.219     diamortisasi   dengan                   to Rp19,219 was amortised using the straight-line
          menggunakan metode garis lurus selama 5 (lima)                   method over 5 (five) years with the estimation of
          tahun dengan pertimbangan atas estimasi                          economic benefits of the goodwill. Effective on
          manfaat ekonomis atas goodwill tersebut. Efektif                 1 January 2011, in accordance with SFAS
          tanggal 1 Januari 2011, sesuai PSAK 22 (Revisi                   No. 22 (Revised 2009), "Business Combinations",
          2009), “Kombinasi Bisnis”, goodwill tidak                        goodwill is not amortised but is tested for
          diamortisasi tapi diuji penurunan nilai setiap                   impairment on annual basis. The Bank periodically
          tahunnya. Bank secara berkala melakukan                          evaluates the impairment of goodwill in accordance
          evaluasi terhadap penurunan nilai goodwill                       with SFAS No. 48, "Impairment of Assets" (see
          tersebut sesuai PSAK 48 “Penurunan Nilai                         Note 2s). The balance of goodwill on 31 December
          Aset” (Catatan 2s). Saldo goodwill pada tanggal                  2023 and 2022 amounted to Rp21,043.
          31 Desember 2023 dan 2022 adalah sebesar
          Rp21.043.

          PT Mandiri Tunas Finance                                         PT Mandiri Tunas Finance

          PT Mandiri Tunas Finance (“MTF”), dahulu                         PT Mandiri Tunas Finance (“MTF”), formerly
          PT Tunas Financindo Sarana (“TFS”) adalah                        PT Tunas Financindo Sarana (“TFS”) is a company
          perusahaan yang bergerak dalam kegiatan                          engaged in consumer financing activities. MTF was
          pembiayaan      konsumen.     MTF      didirikan                 established based on Notarial Deed of Misahardi
          berdasarkan Akta Notaris Misahardi Wilamarta,                    Wilamarta, S.H., No. 262 dated 17 May 1989 and
          S.H., No. 262 tanggal 17 Mei 1989 dan disahkan                   approved by the Ministry of Justice through its
          oleh Menteri Kehakiman dalam Surat Keputusan                     Decision Letter No. C2-4868.HT.01.01.TH.89
          No. C2-4868.HT.01.01.TH.89 tanggal 1 Juni                        dated 1 June 1989 and published in State Gazette
          1989 serta diumumkan dalam Lembaran Berita                       No. 57, Supplement No. 1369 dated 18 July 1989.
          Negara No. 57, Tambahan No. 1369 tanggal                         MTF commenced its commercial activities in 1989.
          18 Juli 1989. Kegiatan komersial MTF dimulai                     MTF obtained a business license to operate as
          tahun 1989. MTF memperoleh izin usaha sebagai                    leasing, factoring and consumer financing
          perusahaan pembiayaan dalam bidang sewa                          company from Minister of Finance in its Decision
          menyewa biasa, anjak piutang dan pembiayaan                      Letter No. 1021/KMK.13/1989 dated 7 September
          konsumen dari Menteri Keuangan berdasarkan                       1989, No. 54/KMK.013/1992 dated 15 January
          Surat Keputusan No. 1021/KMK.13/1989 tanggal                     1992 and No. 19/KMK.017/2001 dated 19 January
          7 September      1989,    No. 54/KMK.013/1992                    2001. Based on Notarial Deed of Dr. A. Partomuan
          tanggal      15      Januari     1992        dan                 Pohan, S.H., LLM, dated 6 February 2009, the
          No. 19/KMK.017/2001 tanggal 19 Januari 2001.                     Bank entered into a sales and purchase agreement
          Sesuai dengan Akta Notaris Dr. A. Partomuan                      with MTF’s shareholders (PT Tunas Ridean Tbk.
          Pohan, S.H., LLM pada tanggal 6 Februari 2009,                   and PT Tunas Mobilindo Parama) to acquire
          dilakukan penandatanganan Akta Jual Beli antara                  51.00% ownership of MTF through purchase of
          pemegang saham MTF (PT Tunas Ridean Tbk.                         1,275,000,000 shares of MTF (the nominal value of
          dan PT Tunas Mobilindo Parama) dengan Bank                       Rp100 (full amount)) per share amounted to
          Mandiri, dimana Bank Mandiri mengakuisisi                        Rp290,000.
          51,00% kepemilikan saham atas MTF melalui
          pembelian 1.275.000.000 lembar saham MTF
          (nilai nominal Rp100 (nilai penuh) per lembar
          saham dengan harga Rp290.000.

          Pengalihan 51,00% kepemilikan kepada Bank                        The acquisition of 51.00% of MTF shares
          Mandiri ini telah disahkan dalam RUPS-LB MTF                     ownership by Bank Mandiri was approved in the
          sebagaimana tertuang dalam Berita Acara                          Extraordinary General Shareholders Meeting of
          RUPSLB No. 8 tanggal 6 Februari 2009 dan telah                   MTF as stated in the Minutes of Extraordinary
          dicatatkan dalam Sistem Administrasi Badan                       General Shareholders’ Meeting No. 8 dated
          Hukum Kementerian Hukum dan Hak Asasi                            6 February 2009 and listed in Legal Entity
          Manusia sebagaimana ditegaskan melalui Surat                     Administration System of Ministry of Law and
          Kementerian Hukum dan Hak Asasi Manusia                          Human Rights as affirmed by the Ministry of Law
          No. AHU-AH.01.10-01575 tertanggal 11 Maret                       and Human Rights through its Letter No. AHU-
          2009. Akuisisi ini juga telah disetujui oleh Bank                AH.01.10-01575 dated 11 March 2009. This
          Indonesia melalui Keputusan Gubernur Bank                        acquisition had been approved by Bank Indonesia
          Indonesia No. 11/3/DPB1/TPB1-1 tertanggal                        through the Decree of the Governor of Bank
          8 Januari 2009.                                                  Indonesia No. 11/3/DPB1/TPB1-1 dated 8 January
                                                                           2009.



                                                       36
                                                                                                        ANNUAL REPORT 2023        1103
Page 597
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Mandiri Tunas Finance (lanjutan)                             PT Mandiri Tunas Finance (continued)

                         Perubahan     nama     TFS    menjadi     MTF                   The amendment of the TFS’ name to become MTF
                         dilaksanakan pada tanggal 26 Juni 2009, sesuai                  was undertaken on 26 June 2009, in accordance
                         Akta Pernyataan Keputusan Rapat PT Tunas                        with a resolution of meeting decision on Notarial
                         Financindo Sarana No. 181 tanggal 26 Juni 2009                  Deed of PT Tunas Financindo Sarana No. 181
                         yang ditandatangani oleh Notaris Dr. Irawan                     dated 26 June 2009, notarised by Notary
                         Soerodjo, S.H., M.Si. Anggaran dasar tersebut                   Dr. Irawan Soerodjo, S.H., M.Si. The Articles of
                         telah disahkan oleh Menteri Hukum dan Hak                       Association was approved by the Ministry of Law
                         Asasi Manusia Republik Indonesia dalam Surat                    and Human Rights Republic of Indonesia in its
                         Keputusan No. AHU-4056.AH.01.02.TH.09 pada                      Decision Letter No. AHU-4056.AH.01.02.TH.09
                         tanggal 26 Agustus 2009 dan MTF telah                           dated 26 August 2009 and MTF has obtained a
                         memperoleh izin usaha sebagai perusahaan                        business license to operate as leasing, factoring,
                         pembiayaan dalam bidang sewa menyewa biasa,                     and consumer financing company from Ministry of
                         anjak piutang dan pembiayaan konsumen dari                      Finance in its Decision Letter No. KEP-
                         Menteri Keuangan berdasarkan Surat Keputusan                    352/KM.10/2009 dated on 29 September 2009.
                         Menteri Keuangan No. KEP-352/KM.10/2009
                         tanggal 29 September 2009.

                         Sebelum tanggal 1 Januari 2011, goodwill yang                   Prior to 1 January 2011, goodwill arising from the
                         timbul dari akuisisi MTF sebesar Rp156.807                      acquisitions of MTF amounted to Rp156,807 was
                         diamortisasi dengan menggunakan metode garis                    amortised using the straight-line method over
                         lurus    selama      5   (lima)   tahun    dengan               5 (five) years with the estimation of economic
                         pertimbangan atas estimasi manfaat ekonomis                     benefits of the goodwill. Effective 1 January 2011,
                         atas goodwill tersebut. Efektif tanggal 1 Januari               in accordance with SFAS No. 22 (Revised 2009),
                         2011, sesuai PSAK 22 (Revisi 2009), “Kombinasi                  "Business Combinations", goodwill is not amortised
                         Bisnis”, goodwill tidak diamortisasi tapi diuji                 but tested for impairment annually. The Bank
                         penurunan nilai setiap tahunnya. Bank Mandiri                   periodically evaluates the impairment of goodwill in
                         secara berkala melakukan evaluasi terhadap                      accordance with SFAS No. 48, "Impairment of
                         penurunan nilai goodwill tersebut sesuai PSAK                   Assets" (Note 2.r.iii). The balance of goodwill on
                         48 “Penurunan Nilai Aset” (Catatan 2.r.iii). Saldo              31 December 2023 and 2022 amounted to
                         goodwill pada tanggal 31 Desember 2023 dan                      Rp96,697.
                         2022 adalah sebesar Rp96.697.

                         Mandiri International Remittance Sendirian                      Mandiri   International   Remittance     Sendirian
                         Berhad                                                          Berhad

                         Mandiri International Remittance Sendirian                      Mandiri International Remittance Sendirian Berhad
                         Berhad (“MIR”) merupakan Entitas Anak yang                      (“MIR”), a wholly owned Subsidiary of Bank
                         seluruh sahamnya dimiliki oleh Bank Mandiri dan                 Mandiri and became a Malaysian legal entity since
                         menjadi badan hukum Malaysia sejak tanggal                      17      March    2009     based    on   registration
                         17 Maret 2009 dengan registrasi No. 850077-P.                   No. 850077-P. MIR is engaged in money
                         MIR merupakan perusahaan penyedia jasa                          remittance service under the regulations of the
                         pengiriman uang (remittances) di bawah                          Bank Negara Malaysia (“BNM”). MIR has obtained
                         ketentuan Bank Negara Malaysia (“BNM”). MIR                     an approval from Bank Indonesia (“BI”) through
                         telah mendapat persetujuan dari Bank Indonesia                  letter No. 10/548/DPB1 dated 14 November 2008
                         (“BI”) melalui surat No. 10/548/DPB1 tanggal                    and approval from BNM to conduct operational
                         14 November 2008 dan persetujuan dari BNM                       activities through its letter No. KL.EC.150/1/8562
                         untuk melakukan kegiatan operasional melalui                    dated 18 November 2009. MIR officially
                         surat        No. KL.EC.150/1/8562        tanggal                commenced its operations on 29 November 2009
                         18 November 2009. Pembukaan kantor MIR                          and is currently located in Kuala Lumpur, Malaysia.
                         dilakukan pada tanggal 29 November 2009 yang                    In 2020, MIR has 14 branches around Malaysia
                         berlokasi di Kuala Lumpur, Malaysia. Pada tahun                 and could provide remittance service to 8 (eight)
                         2020, MIR telah memiliki 14 cabang di Malaysia                  countries which are Indonesia, Philippines,
                         dan telah dapat melayani kiriman uang ke                        Thailand, Singapore, India, Nepal, Pakistan and
                         8 (delapan) negara, yaitu: Indonesia, Filipina,                 Bangladesh.
                         Thailand, Singapura, India, Nepal, Pakistan dan
                         Bangladesh.



                                                                       37
1104 PT Bank Mandiri (Persero) Tbk
Page 598
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                           KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                  1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                      g. Subsidiaries (continued)

          PT AXA Mandiri Financial Services                                PT AXA Mandiri Financial Services

          PT AXA Mandiri Financial Services ("AXA                          PT AXA Mandiri Financial Services (“AXA Mandiri”)
          Mandiri") merupakan perusahaan joint venture                     is a joint venture company between PT Bank
          antara PT Bank Mandiri (Persero) Tbk. (“Bank                     Mandiri (Persero) Tbk. (“Bank Mandiri”) and
          Mandiri”) dengan National Mutual International                   National Mutual International Pty. Limited (“NMI”)
          Pty. Limited (“NMI”) yang bergerak di bidang                     that is engaged in life insurance. AXA Mandiri was
          asuransi jiwa. AXA Mandiri didirikan dengan                      formerly established under the name of
          nama PT Asuransi Jiwa Staco Raharja pada                         PT Asuransi Jiwa Staco Raharja on 30 September
          30 September 1991 dengan Akta Notaris Muhani                     1991 by Notarial Deed No. 179 of Muhani Salim,
          Salim, S.H., No. 179. Akta pendirian disetujui                   S.H. The deed of establishment was approved by
          oleh Menteri Kehakiman Republik Indonesia                        the Minister of Law of the Republic of Indonesia
          melalui surat No. C2-6144.HT.01.01.TH.91                         through its letter No. C2-6144.HT.01.01.TH.91
          tanggal 28 Oktober 1991. Entitas Anak                            dated 28 October 1991. The subsidiary obtained its
          mendapatkan ijin usaha asuransi jiwa melalui                     life insurance license through General Directorate
          Surat Keputusan Direktorat Jenderal Lembaga                      of      Finance    Institution   Decision    Letter
          Keuangan No. KEP.605/KM.13/1991 tentang                          No. KEP.605/KM.13/1991 regarding Granting of
          Pemberian Izin Usaha Asuransi Jiwa Nasional                      National Life Insurance Business Permits and
          dan memulai kegiatan operasionalnya pada                         officially commenced its operations activities on
          tanggal 4 Desember 1991. Nama Entitas Anak                       4 December 1991. The Subsidiary’s name was
          lalu berubah menjadi PT Asuransi Jiwa Mandiri                    then changed to PT Asuransi Jiwa Mandiri and
          dan selanjutnya berubah menjadi PT AXA                           subsequently changed to PT AXA Mandiri
          Mandiri Financial Services. Perubahan ini                        Financial Services. This change was approved by
          disetujui oleh Menteri Kehakiman dan Hak Asasi                   the Ministry of Justice and Human Rights in its
          Manusia                 dalam            surat                   Decision Letter No. C-28747.HT.01.04.TH.2003
          No. C-28747.HT.01.04.TH.2003 pada tanggal                        dated 10 December 2003, and was published in
          10 Desember 2003 dan diumumkan pada                              State Gazette No. 64, Supplement No. 7728 dated
          Lembaran Berita Negara No. 64, Tambahan                          10 August 2004 with shareholders composition
          No. 7728 tanggal 10 Agustus 2004 dengan                          consists of NMI 51.00% and Bank Mandiri 49.00%.
          komposisi pemegang saham NMI sebesar
          51,00% dan Bank Mandiri sebesar 49,00%.

          Pada Rapat Umum Pemegang Saham tanggal                           At the General Meeting of Shareholders on 17 May
          17 Mei 2010 (dalam pasal 7), pemegang saham                      2010 (in article 7), Bank Mandiri shareholders
          Bank Mandiri telah menyetujui pembelian saham                    approved the purchase of shares by Bank Mandiri
          oleh Bank Mandiri sebesar 2,00% dari total                       amounting to 2.00% of the total shares issued and
          saham yang diterbitkan dan disetor penuh secara                  fully paid up directly from NMI.
          langsung dari NMI.

          Sebelum tanggal 1 Januari 2011, goodwill yang                    Prior to 1 January 2011, goodwill arising from the
          timbul dari akuisisi AXA Mandiri sebesar                         acquisition of AXA Mandiri amounted to Rp40,128
          Rp40.128 diamortisasi dengan menggunakan                         was amortised using the straight-line method over
          metode garis lurus selama 5 (lima) tahun dengan                  5 (five) years with the estimation of economic
          pertimbangan atas estimasi manfaat ekonomis                      benefits of the goodwill. Effective on 1 January
          atas goodwill tersebut. Efektif tanggal 1 Januari                2011, in accordance with SFAS No. 22 (Revised
          2011, sesuai PSAK 22 (Revisi 2009), “Kombinasi                   2009), “Business Combinations”, goodwill is not
          Bisnis”, goodwill tidak diamortisasi tapi diuji                  amortised but tested for impairment annually. Bank
          penurunan nilai setiap tahunnya. Bank Mandiri                    Mandiri periodically evaluates the impairment of
          secara berkala melakukan evaluasi terhadap                       goodwill in accordance with SFAS No. 48,
          penurunan nilai goodwill tersebut sesuai PSAK                    “Impairment of Assets” (Note 2s). The balance of
          48 “Penurunan Nilai Aset” (Catatan 2s). Saldo                    goodwill on 31 December 2023 and 2022
          goodwill pada tanggal 31 Desember 2023 dan                       amounted to Rp37,194.
          2022 adalah sebesar Rp37.194.




                                                       38
                                                                                                        ANNUAL REPORT 2023        1105
Page 599
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Asuransi Jiwa Inhealth Indonesia                             PT Asuransi Jiwa Inhealth Indonesia

                         PT Asuransi Jiwa Inhealth Indonesia (“Mandiri                   PT Asuransi Jiwa Inhealth Indonesia (“Mandiri
                         Inhealth”) didirikan berdasarkan Akta Notaris NM                Inhealth”) was established on 6 October 2008
                         Dipo Nusantara Pua Upa, S.H., No. 2 tanggal                     based on the Notarial Deed No. 2 of NM Dipo
                         6 Oktober 2008 dan telah mendapatkan                            Nusantara Pua Upa, S.H. Inhealth has obtained its
                         pengesahan dari Menteri Hukum dan Hak Asasi                     license from the Minister of Law and Human Rights
                         Manusia Republik Indonesia berdasarkan Surat                    of the Republic of Indonesia through its decision
                         Keputusan No. AHU-90399.AH.01.01 tanggal                        letter     No.      AHU-90399.AH.01.01       dated
                         26    November       2008.    Perusahaan    telah               26 November 2008. Inhealth obtained its license to
                         mendapatkan Izin Usaha di bidang Asuransi Jiwa                  operate in life insurance as stated in the Decision
                         yang tertuang dalam Salinan Keputusan Menteri                   Letter of the Minister of Finance of the Republic of
                         Keuangan No. KEP-38/KM.10/2009 tanggal                          Indonesia        No. KEP-38/KM.10/2009       dated
                         20 Maret 2009.                                                  20 March 2009.

                         Pada tanggal 27 Februari 2014, PT Bank Mandiri                  On 27 February 2014, PT Bank Mandiri (Persero)
                         (Persero) Tbk telah memperoleh persetujuan                      Tbk. has obtained the approval in the Annual
                         dalam Rapat Umum Pemegang Saham Tahunan                         General Meeting of Shareholders related to the
                         terkait rencana akuisisi Mandiri Inhealth.                      acquisition plan of Mandiri Inhealth. Furthermore,
                         Selanjutnya, PT Bank Mandiri (Persero) Tbk juga                 PT Bank Mandiri (Persero) Tbk. also has received
                         telah menerima persetujuan rencana akuisisi dari                the approval of the proposed acquisition from FSA
                         OJK sesuai Surat No. S-37/PB/31/2014, tanggal                   in accordance with Letter No. S-37/PB/31/2014
                         17 April 2014 perihal Permohonan Persetujuan                    dated 17 April 2014 regarding the Application for
                         Penyertaan Modal PT Bank Mandiri (Persero)                      Approval for Equity Investment of PT Bank Mandiri
                         Tbk. dalam PT Asuransi Jiwa Inhealth Indonesia.                 (Persero) Tbk. in PT Asuransi Jiwa Inhealth
                                                                                         Indonesia.

                         Bank Mandiri mengambil alih kepemilikan di                      Bank Mandiri acquired 80% of total shares issued
                         Mandiri Inhealth sebesar 80% dengan nilai                       by Mandiri Inhealth amounted to Rp1,320,000. As
                         Rp1.320.000. Saldo goodwill dari akuisisi Mandiri               of 31 December 2023 and 2022 goodwill balance
                         Inhealth pada tanggal 31 Desember 2023 dan                      from acquisition of Mandiri Inhealth is amounted to
                         2022 adalah sebesar Rp268.181. Bank secara                      Rp268,181, respectively. The Bank periodically
                         berkala melakukan evaluasi terhadap penurunan                   evaluates the impairment of goodwill in accordance
                         nilai goodwill tersebut sesuai PSAK 48,                         with SFAS No. 48, “Impairment of Assets” (Note
                         “Penurunan Nilai Aset” (Catatan 2s).                            2s).

                         Pada tanggal 29 Juli 2022, PT Asuransi Jiwa                     On 29 July 2022, PT Asuransi Jiwa Inhealth
                         Inhealth Indonesia telah memperoleh persetujuan                 Indonesia obtained approval at the Annual General
                         dalam Keputusan Rapat Para Pemegang Saham                       Meeting of Shareholders regarding the plan to
                         Tahunan terkait rencana penyertaan modal dan                    invest in capital and establish a subsidiary or joint
                         melakukan pendirian anak perusahaan atau                        venture company, PT FitAja Digital Nusantara.
                         perusahaan patungan PT FitAja Digital
                         Nusantara.

                         Pada tanggal 31 Juli 2022, PT Asuransi Jiwa                     On 31 July 2022, PT Asuransi Jiwa Inhealth
                         Inhealth     Indonesia     bersama     dengan                   Indonesia together with PT Mandiri Capital
                         PT Mandiri Capital Indonesia dan PT Metra                       Indonesia and PT Metra Digital Investama signed
                         Digital   Investama    telah   menandatangani                   an Agreement to Establish a Joint Company. With
                         Perjanjian Pendirian Perusahaan Patungan.                       the signing of the agreement, PT Asuransi Jiwa
                         Dengan ditandatanganinya perjanjian tersebut,                   Inhealth Indonesia is legally a shareholder in
                         PT Asuransi Jiwa Inhealth Indonesia telah sah                   PT FitAja Digital Nusantara with percentage of
                         sebagai pemegang saham di PT FitAja Digital                     ownership of 45.14%.
                         Nusantara dengan porsi kepemilikan saham
                         sebanyak 45,14%.



                                                                      39
1106 PT Bank Mandiri (Persero) Tbk
Page 600
 CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                       Financial
 GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                           KEUANGAN   2023
                                                                                                       Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                    g. Subsidiaries (continued)

          PT Asuransi       Jiwa    Inhealth    Indonesia                PT Asuransi Jiwa Inhealth Indonesia (continued)
          (lanjutan)

          Perubahan akta terakhir dimuat dalam Akta                      The latest deed changes are in Deed No. 139
          No.139 tanggal 25 Agustus 2023, dihadapan                      dated 25 August 2023, made before Mala Mukti,
          Mala Mukti, S.H., LL.M., notaris di Jakarta.                   S.H., LL.M., notary in Jakarta. The notification has
          Pemberitahuan telah dicatat ke dalam Sistem                    been recorded in the Legal Entity Administration
          Administrasi Badan Hukum Kementerian Hukum                     System of the Ministry of Law and Human Rights
          Dan Hak Asasi Manusia Republik Indonesia                       of the Republic of Indonesia according to letter
          sesuai surat tertanggal 30 Agustus 2023                        dated     30     August      2023    No.       AHU-
          No. AHU-0170890.AH.01.11.Tahun 2023.                           0170890.AH.01.11.Year 2023.

          PT Mandiri Utama Finance                                       PT Mandiri Utama Finance

          Pada tanggal 16 April 2014, Bank Mandiri                       On 16 April 2014, Bank Mandiri and PT Asco
          bersama PT Asco Investindo (“ASCO”) dan                        Investindo (“ASCO”) and PT Tunas Ridean
          PT Tunas Ridean (Persero) Tbk. (“TURI”), telah                 (Persero) Tbk. (“TURI”), signed an agreement of
          menandatangani perjanjian kesepakatan awal                     preliminary agreement to set up a finance
          untuk   mendirikan     sebuah     perusahaan                   company to accelerate Bank Mandiri finance
          pembiayaan untuk mengakselerasi penyaluran                     portfolio distribution, especially in the segment of
          pembiayaan Bank Mandiri khususnya pada                         vehicle financing.
          segmen pembiayaan kendaraan bermotor.

          Pada tanggal 22 Oktober 2014, Bank Mandiri                     On 22 October 2014, Bank Mandiri with ASCO and
          bersama ASCO dan TURI telah menandatangani                     TURI signed a shareholders' agreement for
          perjanjian pemegang saham dimana telah                         establishment of a finance company with an
          disepakati     pendirian    suatu  perusahaan                  authorised capital of Rp100,000 and an ownership
          pembiayaan dengan modal dasar Rp100.000                        composition as follows: the Bank Mandiri (51%);
          dengan komposisi kepemilikan adalah Bank                       ASCO (37%); and TURI (12%). Subsequently, on
          Mandiri (51%), ASCO (37%) dan TURI (12%).                      23 December 2014, in accordance with letter No.
          Selanjutnya,    pada     23   Desember   2014                  S-137/PB.31/2014 the Bank obtained a principle
          sebagaimana disebutkan dalam suratnya No. S-                   license of equity participation in the new financing
          137/PB.31/2014, Bank Mandiri telah memperoleh                  company from Bank Supervision FSA.
          izin prinsip penyertaan modal pada perusahaan
          pembiayaan baru tersebut dari OJK Pengawasan
          Bank.

          Pada tanggal 21 Januari 2015, telah dilakukan                  On 21 January 2015, the deed of incorporation of a
          penandatanganan akta pendirian entitas anak                    new subsidiary of Bank Mandiri named
          baru Bank Mandiri yang diberi nama PT Mandiri                  PT Mandiri Utama Finance (“MUF”) has been
          Utama Finance (“MUF”) yang dituangkan dalam                    signed as outlined in the Notarial Deed Ashoya
          Akta Notaris Ashoya Ratam, S.H., M.Kn., No. 19                 Ratam, SH, M.Kn., No. 19 dated 21 January 2015
          tanggal 21 Januari 2015 dan telah disahkan oleh                and was approved by the Ministry of Law and
          Kementerian Hukum dan Hak Asasi Manusia                        Human Rights of the Republic of Indonesia in
          Republik Indonesia dalam Surat Keputusan                       Decree letter No. AHU-0003452.AH.01.01 Year
          No. AHU-0003452.AH.01.01 Tahun 2015 tanggal                    2015 dated 26 January 2015. Concurrent with the
          26    Januari   2015.    Bersamaan      dengan                 signing of the deed of incorporation, the Bank also
          penandatanganan akta pendirian tersebut Bank                   made capital injection amounted to Rp51,000 as
          Mandiri juga melakukan penyetoran modal                        stipulated in the Bank’s shareholding in MUF.
          sebesar Rp51.000 sesuai dengan komposisi
          kepemilikan saham Bank Mandiri di MUF.




                                                       40
                                                                                                      ANNUAL REPORT 2023        1107
Page 601
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    g.   Entitas Anak (lanjutan)                                     g. Subsidiaries (continued)

                         PT Mandiri Utama Finance (lanjutan)                             PT Mandiri Utama Finance (continued)

                         Pasca penandatanganan akta pendirian, MUF                       After the signing of the deed, MUF submitted
                         menyampaikan       permohonan   izin  usaha                     application of financing company business license
                         perusahaan pembiayaan kepada OJK Institusi                      to FSA - Non-Bank Financial Institutions (“FSA
                         Keuangan Non Bank (”OJK IKNB”). Atas                            IKNB”). Upon request, the FSA IKNB has issued a
                         permohonan     tersebut,  OJK   IKNB   telah                    decree letter of IKNB Board of Commissioners of
                         menerbitkan Surat Keputusan Dewan Komisioner                    the FSA No. KEP-81/D.05/2015 regarding the
                         Otoritas Jasa Keuangan No. KEP-81/D.05/2015                     Granting Approval of Financing Company to
                         tentang “Pemberian Izin Usaha Perusahaan                        PT Mandiri Utama Finance on 25 June 2015
                         Pembiayaan kepada PT Mandiri Utama Finance”                     through FSA letter No. SR-3516 /NB.111/2015
                         pada tanggal 25 Juni 2015 yang disampaikan                      dated 26 June 2015, regarding the “Granting
                         melalui surat OJK No. SR-3516/NB.111/2015                       Approval of Financing Company to PT Mandiri
                         tanggal 26 Juni 2015 perihal “Pemberian Izin                    Utama Finance”.
                         Usaha Perusahaan Pembiayaan PT Mandiri
                         Utama Finance”.

                         Pada tanggal 24 Agustus 2015, MUF mulai                         On 24 August 2015, MUF has performed the initial
                         melaksanakan tahapan kegiatan operasional                       operational activities through cooperation with
                         awal melalui kerjasama dengan dealer-dealer                     primary dealers and showroom, as well as vehicle
                         dan showroom-showroom utama serta pencairan                     financing disbursement to limited customers to
                         pembiayaan    kendaraan      bermotor    kepada                 meet the requirements of the FSA IKNB, and fully
                         nasabah terbatas untuk memenuhi persyaratan                     operated commercially on January 2016 through
                         OJK IKNB dan pada akhirnya di bulan Januari                     its branches which already have operational permit
                         2016, MUF telah dapat beroperasi komersial                      from FSA IKNB.
                         secara penuh melalui jaringan kantor yang sudah
                         mendapatkan izin dari OJK IKNB.

                         Selanjutnya MUF mengurus izin Unit Usaha                        Furthermore, MUF processed the Sharia Business
                         Syariah (“UUS”) ke OJK-IKNB Syariah dan telah                   Unit (“UUS”) license to FSA-IKNB Sharia and has
                         memperoleh izin Unit Usaha Syariah (“UUS”)                      obtained MUF Sharia Business Unit (“UUS”)
                         MUF melalui Surat Keputusan Dewan Komisioner                    license through the Decree letter of the Board of
                         Otoritas    Jasa    Keuangan      No.      KEP-                 Commissioners of the Financial Services Authority
                         36/NB.223/2018    tentang   “Pemberian      Izin                No. KEP-36/NB.223/NB/2018 regarding “Granting
                         Pembukaan Unit Usaha Syariah Perusahaan                         the License of Opening Sharia Business Unit of
                         Pembiayaan kepada PT Mandiri Utama Finance”                     Financing Company to PT Mandiri Utama Finance”
                         pada tanggal 27 April 2018 yang disampaikan                     dated 27 April 2018 through FSA letter
                         melalui surat OJK No. S-626/NB.223/2018                         No. S-626/NB.223/2018 dated 15 May 2018
                         tanggal 15 Mei 2018 perihal “Penyampaian                        related to “Submission of Transcript of License for
                         Salinan Izin Pembukaan Unit Usaha Syariah                       Opening Sharia Business Unit of Financing
                         Perusahaan Pembiayaan PT Mandiri Utama                          Company to PT Mandiri Utama Finance”. In 2021,
                         Finance”. Pada tahun 2021, MUF telah                            MUF has increased its equity allocation for the
                         melakukan peningkatan alokasi ekuitas dari MUF                  Sharia Business Unit (“UUS”) operation from
                         untuk bisnis Unit Usaha Syariah (“UUS”) dari                    Rp50,000 to Rp75,000.
                         Rp50.000 menjadi Rp75.000.

                         Sesuai dengan kebijakan mengenai Qanun Aceh,                    In accordance with the policy regarding Aceh
                         maka MUF pada tanggal 19 November 2021,                         Qanun, on 19 November 2021, MUF has closed
                         telah melakukan penutupan Izin Pembiayaan                       the Conventional Financing License for the Banda
                         Konvensional untuk Kantor Cabang (“KC”) Banda                   Aceh Branch Office (“KC”), but still has Sharia
                         Aceh, namun tetap memiliki Izin Pembiayaan                      Financing License as the Banda Aceh Sharia Unit
                         Syariah sebagai Kantor Cabang Unit Syariah                      Branch Office (“KC-US”).
                         (“KC-US”) Banda Aceh.

                         PT Mandiri Capital Indonesia                                    PT Mandiri Capital Indonesia

                         Pada tanggal 23 Juni 2015, Bank Mandiri                         On 23 June 2015, Bank Mandiri and PT Mandiri
                         bersama PT Mandiri Sekuritas telah mendirikan                   Sekuritas have established new subsidiary
                         Entitas Anak baru yang bergerak di bidang modal                 engaged in venture capital under the name of
                         ventura dengan nama PT Mandiri Capital                          PT Mandiri Capital Indonesia ("MCI").
                         Indonesia (“MCI”).




                                                                      41
1108 PT Bank Mandiri (Persero) Tbk
Page 602
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                          Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                  1.     GENERAL INFORMATION (continued)

     g.   Entitas Anak (lanjutan)                                      g. Subsidiaries (continued)

          PT Mandiri Capital Indonesia (lanjutan)                          PT Mandiri Capital Indonesia (continued)

          Pendirian   perusahaan    ditandai    dengan                     Establishment of the Company was marked by the
          penandatanganan akta pendirian antara Bank                       signing the establishment deed between Bank
          Mandiri dan PT Mandiri Sekuritas dimana Bank                     Mandiri and PT Mandiri Sekuritas in which the
          Mandiri melakukan penyertaan modal sebesar                       Bank invested the capital amounted to Rp9,900,
          Rp9.900 yang mewakili 99% kepemilikan saham                      representing 99% share ownership in MCI and
          dalam MCI dan PT Mandiri Sekuritas melakukan                     PT Mandiri Sekuritas injected capital amounted to
          penyertaan modal sebesar Rp100 yang mewakili                     Rp100 which represents a 1% share ownership in
          1% kepemilikan saham dalam MCI, sehingga                         MCI, therefore the capital structure of MCI
          struktur permodalan MCI adalah sebesar                           amounted Rp10,000.
          Rp10.000.

          Penyertaan modal Bank Mandiri dalam rangka                       Bank Mandiri's equity participation in the
          Pendirian MCI telah memperoleh persetujuan                       establishment of MCI was approved by the FSA by
          Otoritas Jasa Keuangan sebagaimana tercantum                     its   letter  No.   S-48/PB.31/2015      regarding
          dalam surat Otoritas Jasa Keuangan No. S-                        Application for Approval of Equity Participation of
          48/PB.31/2015 perihal Permohonan Persetujuan                     PT Bank Mandiri (Persero) Tbk. for the
          Penyertaan Modal PT Bank Mandiri (Persero)                       establishment of Venture Capital Company on
          Tbk. dalam rangka pendirian Perusahaan Modal                     11 June 2015.
          Ventura pada tanggal 11 Juni 2015.

          Pada tanggal 26 Juni 2015, pendirian MCI telah                   As of 26 June 2015, the establishment of MCI was
          memperoleh pengesahan dari Menteri Hukum                         approved by the Minister of Law and Human
          dan Hak Asasi Manusia melalui surat No. AHU-                     Rights through letter No. AHU-2445684.AH.01.01.
          2445684.AH.01.01. Tahun 2015. MCI telah                          Year 2015. MCI obtained a license to carry out
          memperoleh izin untuk melaksanakan kegiatan                      business activities in the venture capital sector on
          usaha di bidang modal ventura pada tanggal                       10 November 2015 through the decree letter of the
          10 November 2015 melalui surat Keputusan                         Board of Commissioners of the Financial Services
          Dewan Komisioner Otoritas Jasa Keuangan                          Authority No. KEP-113/D.05/2015 stating that MCI
          No. KEP-113/D.05/2015 sehingga MCI dapat                         may carry out full operational activities.
          melaksanakan kegiatan operasional secara
          penuh.

          Mandiri Capital Indonesia memiliki 99,99% dari                   Mandiri Capital Indonesia owns 99.99% of the total
          total saham PT Mitra Transaksi Indonesia yang                    shares of PT Mitra Transaksi Indonesia which is a
          merupakan pengolah pihak ketiga dan penyedia                     third party processor and acquirer service provider
          layanan pengakuisisi yang menghadirkan proses                    that provides end-to-end processes and networks
          dan     jaringan    end-to-end    untuk    solusi                for payment solutions in Indonesia, a Subsidiary of
          pembayaran di Indonesia, Entitas Anak MCI yang                   MCI which was established on 13 January 2016
          didirikan tanggal 13 Januari 2016 dan bergerak di                and engages in business support services related
          bidang jasa penunjang usaha terkait jasa                         to financial services, specifically financial services
          keuangan, secara khusus jasa keuangan dalam                      in the field of payment by card.
          bidang pembayaran dengan menggunakan kartu.

          Terakhir, pada tanggal 27 Desember 2022, MCI                     Lastly, On 27 December 2022, MCI obtained
          telah memperoleh persetujuan perubahan                           approval for the amendment to the Articles of
          Anggaran Dasar terkait peningkatan modal dasar                   Association regarding the increase in authorized
          dan modal ditempatkan oleh Menteri Hukum dan                     and issued capital by the Minister of Law and
          Hak Asasi Manusia dengan surat No. AHU-                          Human      Rights    with    letter   No.  AHU-
          0129677.AH.01.02. Tahun 2022 sebagaimana                         0129677.AH.01.02. Year 2022 as stated in Deed
          tertuang di dalam Akta No. 7 tanggal                             No. 7 dated 26 December 2022 in which
          26 Desember 2022 dimana penyertaan saham                         investment in shares of Bank Mandiri amounted to
          Bank Mandiri menjadi sebesar Rp3.358.400 yang                    Rp3,358,400      representing     99.99%   share
          mewakili 99,99% kepemilikan saham dalam MCI                      ownership in MCI and PT Mandiri Sekuritas
          dan PT Mandiri Sekuritas menjadi sebesar                         amounted to Rp100 representing 0.01% ownership
          Rp100 yang mewakili 0,01% kepemilikan saham                      shares in MCI, so that MCI's capital structure is
          dalam MCI, sehingga struktur permodalan MCI                      Rp3,358,500.
          adalah sebesar Rp3.358.500.


                                                       42
                                                                                                         ANNUAL REPORT 2023         1109
Page 603
            MAIN                               MANAGEMENT                                      COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                         PROFILE                                   ANALYSIS


                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                                      1.     GENERAL INFORMATION (continued)

                    h.   Struktur dan manajemen                                                           h.   Structure and management

                         Kantor pusat Bank Mandiri berkedudukan di                                             Bank Mandiri’s head office is located on Jalan
                         Jalan Jenderal Gatot Subroto Kavling 36-38                                            Jenderal Gatot Subroto Kavling 36-38, South
                         Jakarta Selatan, Indonesia. Pada tanggal                                              Jakarta, Indonesia. As of 31 December 2023 and
                         31 Desember 2023 dan 2022, struktur dan jumlah                                        2022, Bank Mandiri’s structure and number of
                         kantor dalam dan luar negeri Bank Mandiri                                             Bank Mandiri's domestic and foreign offices are as
                         adalah sebagai berikut:                                                               follows:

                                                                                        2023                        2022

                         Kantor wilayah dalam negeri                                               12                            12                      Domestic regional offices

                         Kantor cabang dalam negeri:                                                                                                           Domestic branches:
                           Kantor Cabang*)                                                        139                         138                                Branch Offices*)
                           Kantor Cabang Pembantu                                               2.104                       2.225                             Sub-Branch Offices

                         Total kantor cabang dalam negeri                                       2.243                       2.363                      Total domestic branches


                         Kantor cabang luar negeri                                                  6                              6                            Overseas branches

                         *)   Terdapat beberapa Kantor Cabang berfungsi sebagai Kantor Area.                   *)   Several branch offices function as area offices.


                         Pada tanggal 31 Desember 2023, Bank Mandiri                                           As of 31 December 2023, Bank Mandiri has 6
                         memiliki 6 kantor cabang luar negeri yang                                             overseas branches located in Cayman Islands,
                         berlokasi di Cayman Islands, Singapura, Hong                                          Singapore, Hong Kong, 2 branch offices in Dili
                         Kong, 2 kantor cabang di Dili Timor Leste,                                            Timor Leste, Shanghai (People's Republic of
                         Shanghai (Republik Rakyat Cina) dan 1 kantor                                          China) and 1 remittance office in Hong Kong.
                         remittance yang berlokasi di Hong Kong.

                         Untuk mendukung pencapaian aspirasi Bank                                              To support Bank Mandiri in achieving its aspiration
                         Mandiri, yaitu menjadi partner finansial pilihan                                      to be the primary customers' financial partner,
                         utama nasabah, Bank Mandiri mengelompokkan                                            Bank Mandiri divided its organisation structure into
                         unit-unit kerja di struktur organisasinya menjadi 3                                   strategic business units (“SBU”) to three major
                         kelompok, yaitu:                                                                      groups, which are:
                         1.    Business Units, berfungsi sebagai motor                                         1. Business Units, are responsible as the Bank’s
                               utama pengembangan bisnis Bank atau                                                  main business development or operational
                               unit yang menjadi segmen operasional                                                 segment unit (operating segment), consists of
                               (Segmen Operasi), yang terdiri dari dua                                              two main segments, namely Wholesale
                               segmen utama yaitu segmen Wholesale                                                  Banking segment which consists of Corporate
                               Banking yang terdiri dari Corporate                                                  Banking, Commercial Banking, Government
                               Banking, Commercial Banking, Hubungan                                                Institutional, Treasury & International Banking
                               Kelembagaan, Treasury & International                                                and Retail Banking segment which consists of
                               Banking dan segmen Retail Banking terdiri                                            Credit Cards, Consumer Loan, Micro Personal
                               dari Credit Cards, Consumer Loans, Micro                                             Loan, Small & Medium Enterprise Banking
                               Personal Loan, Small & Medium Enterprise                                             and Micro Development & Agent Banking.
                               Banking dan Micro Development & Agent
                               Banking.
                         2.    Support Functions, berfungsi sebagai                                            2. Support Functions, are responsible as
                               supporting       unit    yang     mendukung                                        supporting units that provide overall support to
                               operasional Bank secara keseluruhan yang                                           Bank’s operations consisting of Special Asset
                               terdiri dari Special Asset Management,                                             Management, Risk Management which
                               Manajemen Risiko yang membawahi                                                    supervices Wholesale Risk and Retail Risk,
                               Wholesale Risk dan Retail Risk, Teknologi                                          Information Technology & Operation that
                               Informasi & Operasi yang membawahi                                                 supervises Operation, Compliance and
                               Operation, Kepatuhan dan SDM, Keuangan                                             Human Resources, Strategic and Finance,
                               dan Strategi, Internal Audit, Corporate                                            Internal Audit, Corporate Transformation and
                               Transformation           dan        Business                                       Business Transformation.
                               Transformation.
                         3.    Bisnis & Jaringan yang berfungsi sebagai                                        3.      Business & Distribution are responsible as
                               unit yang melakukan penjualan produk dan                                                unit that selling products and services to all
                               jasa kepada seluruh segmen nasabah Bank                                                 segments of Bank’s customers, consisting of
                               Mandiri, terdiri dari 12 Kantor Wilayah yang                                            12 Regional Offices that are spread out
                               tersebar di seluruh wilayah Indonesia dan                                               across Indonesia and wealth management.
                               wealth management.




                                                                                           43
1110 PT Bank Mandiri (Persero) Tbk
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 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                           Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                           Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                   1.     GENERAL INFORMATION (continued)

     h.   Struktur dan manajemen (lanjutan)                             h.   Structure and management (continued)

          Bank Mandiri telah melakukan perubahan                             Bank Mandiri has made changes to the
          struktur organisasi yang berlaku efektif tanggal                   organizational structure which took effect on
          31 Juli 2023 sebagaimana tertuang dalam                            31 July 2023 as stated in Directors Decree
          Keputusan Direksi No. KEP.DIR/030/2023                             No. KEP.DIR/030/2023 dated 4 August 2023
          tanggal 4 Agustus 2023 tentang Struktur                            concerning Organizational Structure. Changes in
          Organisasi. Perubahan struktur organisasi Bank                     the organizational structure of Bank Mandiri by
          Mandiri tersebut dengan menata ulang organisasi                    rearranging the organization to meet the needs and
          untuk memenuhi kebutuhan dan perkembangan                          development of the Bank.
          Bank.

          Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, the members
          susunan Dewan Komisaris Bank Mandiri adalah                        of Bank Mandiri’s Boards of Commissioners are as
          sebagai berikut:                                                   follows:

                                                     2023                          2022

          Dewan Komisaris                                                                                 Board of Commissioners
          Komisaris Utama/                                                                               President Commissioner/
            Independen                 : Muhamad Chatib Basri           Muhamad Chatib Basri                        Independent
          Wakil Komisaris Utama/                                                                    Vice President Commissioner/
            Independen                 : Andrinof A. Chaniago           Andrinof A. Chaniago                        Independent
          Komisaris Independen         : Loeke Larasati A.              Boedi Armanto                  Independent Commissioner
          Komisaris Independen         : Muliadi Rahardja               Loeke Larasati A.              Independent Commissioner
          Komisaris Independen         : Heru Kristiyana                Muliadi Rahardja               Independent Commissioner
          Komisaris Independen         : Zainudin Amali                 -                              Independent Commissioner
          Komisaris                    : Rionald Silaban                Rionald Silaban                              Commissioner
          Komisaris                    : Arif Budimanta                 Arif Budimanta                               Commissioner
          Komisaris                    : Faried Utomo                   Faried Utomo                                 Commissioner
          Komisaris                    : Nawal Nely                     Nawal Nely                                   Commissioner
          Komisaris                    : Muhamad Yusuf Ateh             Muhammad Yusuf Ateh                          Commissioner

          Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, the members
          susunan Direksi Bank Mandiri adalah sebagai                        of Bank Mandiri's Board of Directors are as
          berikut:                                                           follows:

                                                                 2023

          Direksi                                                                                               Board of Directors
          Direktur Utama                         : Darmawan Junaidi                                              President Director
          Wakil Direktur Utama                   : Alexandra Askandar                                Deputy of President Director
          Direktur Manajemen Risiko              : Ahmad Siddik Badruddin                           Director of Risk Management
          Direktur Kepatuhan dan                                                                      Director of Compliance and
            SDM                                  :   Agus Dwi Handaya                                        Human Resources
          Direktur Commercial Banking            :   Riduan                                      Director of Commercial Banking
          Direktur Jaringan dan Retail Banking   :   Aquarius Rudianto                    Director of Network and Retail Banking
          Direktur Operation                     :   Toni E. B. Subari                                       Director of Operation
          Direktur Corporate Banking             :   Susana Indah K. Indriati                      Director of Corporate Banking
          Direktur Hubungan Kelembagaan          :   Rohan Hafas                             Director of Institutional Relationship
          Direktur Keuangan dan Strategi         :   Sigit Prastowo                             Director of Finance and Strategy
          Direktur Information Technology        :   Timothy Utama                            Director of Information Technology
          Direktur Treasury dan                                                                          Director of Treasury and
            International Banking                : Eka Fitria                                             International Banking




                                                         44
                                                                                                          ANNUAL REPORT 2023       1111
Page 605
            MAIN                       MANAGEMENT                          COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                             PROFILE                          ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                   1.     GENERAL INFORMATION (continued)

                    h.   Struktur dan manajemen (lanjutan)                             h.   Structure and management (continued)

                         Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, the members
                         susunan Direksi Bank Mandiri adalah sebagai                        of Bank Mandiri's Board of Directors are as follows
                         berikut (lanjutan):                                                (continued):

                                                                                2022

                         Direksi                                                                                               Board of Directors
                         Direktur Utama                         : Darmawan Junaidi                                              President Director
                         Wakil Direktur Utama                   : Alexandra Askandar                                Deputy of President Director
                         Direktur Manajemen Risiko              : Ahmad Siddik Badruddin                           Director of Risk Management
                         Direktur Kepatuhan dan                                                                      Director of Compliance and
                           SDM                                  : Agus Dwi Handaya                                          Human Resources
                         Direktur Treasury dan                                                                          Director of Treasury and
                           International Banking                :   Panji Irawan                                         International Banking
                         Direktur Commercial Banking            :   Riduan                                      Director of Commercial Banking
                         Direktur Jaringan dan Retail Banking   :   Aquarius Rudianto                    Director of Network and Retail Banking
                         Direktur Operation                     :   Toni E. B. Subari                                       Director of Operation
                         Direktur Corporate Banking             :   Susana Indah K. Indriati                      Director of Corporate Banking
                         Direktur Hubungan Kelembagaan          :   Rohan Hafas                             Director of Institutional Relationship
                         Direktur Keuangan dan Strategi         :   Sigit Prastowo                             Director of Finance and Strategy
                         Direktur Information Technology        :   Timothy Utama                            Director of Information Technology

                         Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, the members
                         Komite Audit Bank Mandiri terdiri dari:                            of Bank Mandiri’s Audit Committee are as follows:

                                                                    2023                          2022

                         Ketua merangkap anggota      : Heru Kristiyana                Muliadi Rahardja                   Chairman and member
                         Anggota                      : Muhamad Chatib Basri           Muhamad Chatib Basri                            Member
                         Anggota                      : Andrinof A. Chaniago           Andrinof A. Chaniago                            Member
                         Anggota                      : Loeke Larasati A.              Loeke Larasati A.                               Member
                         Anggota                      : Muliadi Rahardja               Heru Kristiyana                                 Member
                         Anggota                      : Rasyid Darajat                 Rasyid Darajat                                  Member
                         Anggota                      : Rubi Pertama                   Rubi Pertama                                    Member

                         Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, Bank Mandiri’s
                         Komite Remunerasi dan Nominasi Bank Mandiri                        Remuneration and Nomination Committee are as
                         terdiri dari:                                                      follows:

                                                                    2023                          2022


                         Ketua merangkap anggota      : Muhamad Chatib Basri           Muhamad Chatib Basri               Chairman and member
                         Anggota                      : Andrinof A. Chaniago           Andrinof A. Chaniago                             Member
                         Anggota                      : Muliadi Rahardja               Muliadi Rahardja                                 Member
                         Anggota                      : Rionald Silaban                Rionald Silaban                                  Member
                         Anggota                      : Arif Budimanta                 Arif Budimanta                                   Member
                         Sekretaris (ex-officio)                                                                            Secretary (ex-officio)
                           merangkap anggota          : SEVP/Group Head                SEVP/Group Head                  concurrently a member
                                                        Human Capital                  Human Capital

                         Pada tanggal 31 Desember 2023 dan 2022,                            As of 31 December 2023 and 2022, Bank Mandiri’s
                         Komite Pemantau Risiko Bank Mandiri terdiri                        Risk Oversight Committee are as follows:
                         dari:
                                                                    2023                          2022

                         Ketua merangkap anggota      : Andrinof A. Chaniago           Andrinof A. Chaniago               Chairman and member
                         Anggota                      : Loeke Larasati A.              Boedi Armanto                                   Member
                         Anggota                      : Nawal Nely                     Loeke Larasati A.                               Member
                         Anggota                      : Arif Budimanta                 Nawal Nely                                      Member
                         Anggota                      : Heru Kristiyana                Arif Budimanta                                  Member
                         Anggota                      : Chrisna Pranoto                Chrisna Pranoto                                 Member
                         Anggota                      : Caroline Halim                 Caroline Halim                                  Member


                                                                        45
1112 PT Bank Mandiri (Persero) Tbk
Page 606
 CORPORATE                           ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                   LAPORAN
                                                                                                                                              Financial
 GOVERNANCE                          & PRACTICES                                 RESPONSIBILITY                                             KEUANGAN   2023
                                                                                                                                              Statements 2023


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                                     1.     GENERAL INFORMATION (continued)

     h.   Struktur dan manajemen (lanjutan)                                               h.   Structure and management (continued)

          Pada tanggal 31 Desember 2023 dan 2022,                                              As of 31 December 2023 and 2022, Bank Mandiri’s
          Komite Tata Kelola Terintegrasi Bank Mandiri                                         Integrated Governance Committee are as follows:
          terdiri dari:
                                                                         2023                              2022

          Ketua merangkap anggota                    : Muhamad Chatib Basri               Muhamad Chatib Basri                                 Chairman and member
          Anggota                                    : Andrinof A. Chaniago               Andrinof A. Chaniago                                              Member
          Anggota                                    : Loeke Larasati A.                  Loeke Larasati A.                                                 Member
          Anggota                                    : Faried Utomo                       Faried Utomo                                                      Member
          Anggota                                    : Muhammad Yusuf Ateh                Muhammad Yusuf Ateh                                               Member
          Anggota                                    : Zainudin Amali                     -                                                                 Member
          Anggota                                    : Chrisna Pranoto                    Chrisna Pranoto                                                   Member
          Anggota                                    : Rasyid Darajat                     Rasyid Darajat                                                    Member
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                              Member
                                                       Independen Bank Mantap*)/          Independen Bank Mantap*)/
                                                       Representative of                  Representative of
                                                       Independent Commissioner           Independent Commissioner
                                                       Bank Mantap*)                      Bank Mantap*)
          Anggota                                    : -                                  Perwakilan Komisaris                                               Member
                                                                                          Independen MAGI*)/
                                                                                          Representative of
                                                                                          Independent
                                                                                          Commissioner MAGI*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen Mansek*)/               Independen Mansek*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner Mansek*)              Commissioner Mansek*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen AMFS**)/                Independen AMFS**)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner AMFS*)                Commissioner AMFS*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen MTF*)/                  Independen MTF*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner MTF*)                 Commissioner MTF*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen MUF*)/                  Independen MUF*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner MUF*)                 Commissioner MUF*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen MCI*)/                  Independen MCI*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner MCI*)                 Commissioner MCI*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       Independen Inhealth*)/             Independen Inhealth*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner Inhealth*)            Commissioner Inhealth*)
          Anggota                                    : Perwakilan Komisaris               Perwakilan Komisaris                                               Member
                                                       BSI*)/                             BSI*)/
                                                       Representative of                  Representative of
                                                       Independent                        Independent
                                                       Commissioner BSI*)                 Commissioner BSI*)
          Anggota                                    : Dewan Pengawas Syariah             Dewan Pengawas Syariah                                             Member
                                                       dari Entitas Anak*)/               dari Entitas Anak*)/
                                                       Sharia Supervisory                 Sharia Supervisory
                                                       Board from Subsidiary*)            Board from Subsidiary*)
          **)   Menyesuaikan dengan Pejabat dari Entitas Anak terkait.                         **)   Adjusted to the Officers of the relevant Subsidiaries




                                                                            46
                                                                                                                                              ANNUAL REPORT 2023      1113
Page 607
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               1.   INFORMASI UMUM (lanjutan)                                 1.     GENERAL INFORMATION (continued)

                    h.   Struktur dan manajemen (lanjutan)                           h.   Structure and management (continued)

                         Cakupan manajemen dan karyawan kunci antara                      Management and key personnel includes the
                         lain mencakup Dewan Komisaris, Direksi, Komite                   Board of Commissioners, Board of Directors, Audit
                         Audit dan Komite Pemantau Risiko, Dewan                          Committee and Risk Oversight Committee, Sharia
                         Pengawas Syariah serta Senior Executive Vice                     Supervisory Board as well as Senior Executive
                         President dan Senior Vice President.                             Vice President and Senior Vice President.

                         Pada tanggal 31 Desember 2023 dan 2022,                          As of 31 December 2023 and 2022, the
                         Ketua Internal Audit Bank Mandiri adalah Danis                   Chairperson of Bank Mandiri's Internal Audit was
                         Subyantoro.                                                      Danis Subyantoro.

                         Pada tanggal 31 Desember 2023 Sekretaris                         As of 31 December 2023 Bank Mandiri's Corporate
                         Perusahaan Bank Mandiri adalah Teuku Ali                         Secretary was Teuku Ali Usman and as of
                         Usman dan pada tanggal 31 Desember 2022                          31 December 2022 Bank Mandiri's Corporate
                         Sekretaris Perusahaan Bank Mandiri adalah Rudi                   Secretary was Rudi As Aturridha.
                         As Aturridha.

                         Jumlah karyawan Bank Mandiri pada tanggal                        The number of Bank Mandiri employees as of
                         31 Desember 2023 sebanyak 38.965 orang                           31 December 2023 was 38,965 persons
                         (31 Desember 2022: sebanyak 38.200 orang)                        (31 December 2022: 38,200 persons (unaudited).
                         (tidak diaudit).


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES

                    Laporan keuangan konsolidasian Bank dan Entitas                  The consolidated financial statements of Bank and its
                    Anak (“Grup”) ini diselesaikan dan disetujui untuk               Subsidiaries (“Group”) were completed and authorised
                    diterbitkan oleh Direksi pada tanggal 31 Januari 2024.           for issuance by the Board of Directors on 31 January
                                                                                     2024.

                    Laporan keuangan konsolidasian disusun dan                       The consolidated financial statements have been
                    disajikan sesuai dengan Standar Akuntansi Keuangan               prepared and presented in accordance with the
                    di Indonesia yang mencakup Pernyataan dan                        Indonesian Financial Accounting Standards which
                    Interpretasi yang dikeluarkan oleh Dewan Standar                 comprised of the Statements and Interpretations issued
                    Akuntansi Keuangan Ikatan Akuntan Indonesia dan                  by the Board of Financial Accounting Standards of the
                    Dewan Standar Akuntansi Syariah Ikatan Akuntan                   Indonesian Institute of Accountants and Board of
                    Indonesia serta peraturan regulator pasar modal yaitu            Sharia Accounting Standards of the Indonesian Institute
                    Peraturan No. VIII.G.7 tentang Penyajian dan                     of Accountants and capital market regulation
                    Pengungkapan Laporan Keuangan Emiten atau                        No.    VIII.G.7   regarding   Financial    Statements
                    Perusahaan Publik.                                               Presentation and Disclosure for Issuer or Public
                                                                                     Companies.

                    a.   Dasar    penyusunan        laporan     keuangan             a.   Basis of preparation       of   the   consolidated
                         konsolidasian                                                    financial statements

                         Kebijakan akuntansi utama yang diterapkan                        The principal accounting policies adopted in
                         dalam       penyusunan     laporan keuangan                      preparing the consolidated financial statement of
                         konsolidasian Bank dan Entitas Anak adalah                       the Bank and Subsidiaries are set out below.
                         seperti dijabarkan di bawah ini.

                         Laporan     keuangan konsolidasian       disusun                 The consolidated financial statements have been
                         berdasarkan harga perolehan, kecuali untuk aset                  prepared under the historical cost, except for
                         keuangan yang diklasifikasikan dalam kelompok                    financial assets classified as fair value through
                         nilai wajar melalui penghasilan komprehensif lain,               other comprehensive income, financial assets and
                         aset dan liabilitas keuangan yang diukur pada                    liabilities measured at fair value through profit or
                         nilai wajar melalui laba rugi dan seluruh                        loss and all derivative instruments which have
                         instrumen derivatif yang diukur berdasarkan nilai                been measured at fair value. The consolidated
                         wajar. Laporan keuangan konsolidasian disusun                    financial statement is prepared under the accrual
                         berdasarkan akuntansi berbasis akrual, kecuali                   basis of accounting, except for the consolidated
                         laporan arus kas konsolidasian.                                  statements of cash flows.


                                                                       47
1114 PT Bank Mandiri (Persero) Tbk
Page 608
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                           Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                           Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     a.   Dasar    penyusunan      laporan      keuangan               a.   Basis of preparation of the consolidated
          konsolidasian (lanjutan)                                          financial statements (continued)

          Laporan arus kas konsolidasian disusun dengan                     Consolidated statements of cash flows are
          menggunakan        metode     langsung    dengan                  prepared using the direct method by classifying
          mengelompokkan arus kas dalam aktivitas-                          cash flows in operating, investing and financing
          aktivitas operasional, investasi dan pendanaan.                   activities.

          Pos-pos dalam penghasilan komprehensif lainnya                    Items within other comprehensive income are
          disajikan terpisah antara akun-akun yang akan                     classified separately, between accounts which will
          direklasifikasikan ke laba rugi dan akun-akun                     be reclassified to profit or loss and will not be
          yang tidak akan direklasifikasikan ke laba rugi.                  reclassified to profit or loss.

          Laporan keuangan Entitas Anak yang bergerak                       The financial statement of a Subsidiary engaged in
          dalam bidang perbankan syariah disusun                            sharia banking have been prepared based on with
          berdasarkan PSAK 101 (Revisi 2016) tentang                        the Statement of Financial Accounting Standards
          “Penyajian Laporan Keuangan Syariah”, PSAK                        (SFAS) No. 101 (Revised 2016), “Presentation of
          102     (Revisi   2019)   tentang    “Akuntansi                   Financial Statements for Sharia Banking”, SFAS
          Murabahah”, PSAK 104 (Revisi 2016) tentang                        No. 102 (Revised 2019) “Accounting for
          “Akuntansi Istishna”, PSAK 105 tentang                            Murabahah”, SFAS No. 104 (Revised 2016)
          “Akuntansi Mudharabah”, PSAK 106 tentang                          “Accounting     for  Istishna”,  SFAS      No. 105
          “Akuntansi Musyarakah”, PSAK 107 (Revisi                          ”Accounting for Mudharabah”, SFAS No. 106
          2021) tentang “Akuntansi Ijarah”, PSAK 110                        “Accounting for Musyarakah”, SFAS No. 107
          (Revisi 2015) tentang “Akuntansi Sukuk”, PSAK                     (Revised 2021) “Accounting for Ijarah”, SFAS No.
          111 tentang “Akuntansi Wa’d”, PSAK 112 Revisi                     110 (Revised 2015) “Accounting for Sukuk”, SFAS
          (2021) tentang “Akuntansi Wakaf” dan PSAK lain                    No. 111 “Accounting for Wa’d”, SFAS No. 112
          selama tidak bertentangan dengan prinsip                          (Revised 2021) "Accounting for Wakaf" and other
          syariah dan Pedoman Akuntansi Perbankan                           prevailing Statement of Financial Accounting
          Syariah Indonesia (PAPSI) (Revisi 2013).                          Standards, as long as it does not contradict with
                                                                            Sharia principle on Accounting Guidelines for
                                                                            Indonesian Sharia Banking (PAPSI) (Revised
                                                                            2013).

          Penyusunan laporan keuangan sesuai dengan                         The preparation of financial statements in
          Standar Akuntansi Keuangan di Indonesia                           accordance with Indonesian Financial Accounting
          mengharuskan     penggunaan       estimasi   dan                  Standards that requires the use of estimates and
          asumsi. Hal tersebut juga mengharuskan                            assumptions. It also requires management to make
          manajemen untuk membuat pertimbangan dalam                        judgements in the process of applying the
          proses penerapan kebijakan akuntansi Grup.                        accounting policies of the Group. The area that is
          Area yang kompleks atau memerlukan tingkat                        complex or requires a higher level of consideration
          pertimbangan yang lebih tinggi atau area di mana                  or areas where assumptions and estimates could
          asumsi dan estimasi dapat berdampak signifikan                    have a significant impact on the consolidated
          terhadap laporan keuangan konsolidasian                           financial statements is disclosed in Note 3.
          diungkapkan di Catatan 3.

          Seluruh angka dalam laporan keuangan                              All figures in the consolidated financial statements,
          konsolidasian ini, dibulatkan dan disajikan dalam                 are rounded and presented in million Rupiah
          jutaan Rupiah (“Rp”), kecuali dinyatakan lain.                    (“Rp”), unless otherwise stated.

     b.   Perubahan kebijakan akuntansi                               b.    Changes in accounting policies

          Kecuali dinyatakan di bawah ini, kebijakan                        Unless stated below, the accounting policies for
          akuntansi pada dan untuk tahun yang berakhir                      the year ended 31 December 2023 have been
          pada tanggal 31 Desember 2023 telah diterapkan                    applied consistently with the Group consolidated
          secara konsisten dengan laporan keuangan                          financial statements for the year ended
          konsolidasian Grup untuk tahun yang berakhir                      31 December 2022 which are in accordance with
          tanggal 31 Desember 2022 yang telah sesuai                        Indonesian Financial Accounting Standards.
          dengan Standar Akuntansi Keuangan di
          Indonesia.




                                                       48
                                                                                                          ANNUAL REPORT 2023        1115
Page 609
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                       (continued)

                    b.   Perubahan kebijakan akuntansi (lanjutan)                   b.   Changes in accounting policies (continued)

                         Pada tanggal 1 Januari 2023, terdapat standar                   On 1 January 2023, there are new and revised or
                         baru dan penyesuaian atau amendemen                             amendment towards several standards that are
                         terhadap beberapa standar yang masih berlaku                    relevant to the Group operation which is effective
                         yang relevan dengan operasi Grup yang berlaku                   for application from that date as follows:
                         efektif sejak tanggal tersebut yaitu sebagai
                         berikut:

                         Ͳ   Amendemen PSAK 1 tentang Penyajian                          Ͳ   Amendments to SFAS No. 1 on Presentation
                             Laporan Keuangan tentang Pengungkapan                           of Financial Statements related to Disclosure
                             Kebijakan Akuntansi. Amendemen ini                              of Accounting Policies. This amendment
                             mengubah “informasi kebijakan akuntansi                         changes     "significant accounting     policy
                             signifikan” menjadi    “informasi  kebijakan                    information" to "material accounting policy
                             akuntansi material” dan mengklarifikasi                         information" and clarifies that not all
                             bahwa tidak seluruh informasi kebijakan                         accounting policy information related to
                             akuntansi terkait dengan transaksi, kejadian                    material transactions, events or other
                             atau kondisi material lainnya adalah material                   conditions is material to the financial
                             terhadap laporan keuangan.                                      statements.

                         Ͳ   Amendemen PSAK 16 tentang Aset Tetap                        Ͳ   Amendment to SFAS No. 16 on Fixed Assets
                             tentang Hasil Sebelum Penggunaan yang                           related to Proceeds before Intended Use. This
                             Diintensikan. Amendemen ini mengklarifikasi                     amendment clarifies the examples of costs
                             contoh biaya yang dapat diatribusikan                           that are directly attributable as the acquisition
                             secara langsung ke dalam nilai perolehan                        cost of fixed assets. This amendment adds
                             aset.    Amendemen     ini  menambahkan                         provisions regarding the recognizing of sales
                             pengaturan atas pengakuan hasil penjualan                       proceeds and the acquisition cost of items
                             dan biaya perolehan atas item yang                              generated when relocating fixed assets to the
                             dihasilkan saat membawa aset tetap ke                           required location and condition in accordance
                             lokasi dan kondisi yang diperlukan sesuai                       with management's intention in the Profit and
                             dengan intensi manajemen dalam Laba Rugi                        Loss Statement, as well as measuring the
                             serta pengukuran biaya perolehan atas item                      cost of acquisition of those items by applying
                             tersebut dengan menerapkan persyaratan                          the measurement requirements in SFAS 14:
                             pengukuran dalam PSAK 14: Persediaan.                           Inventory.

                         Ͳ   Amendemen PSAK 25 tentang Kebijakan                         Ͳ   Amendment to SFAS No. 25 on Accounting
                             Akuntansi, Perubahan Estimasi Akuntansi                         Policies, Changes in Accounting Estimates
                             dan Kesalahan tentang Definisi Estimasi                         and Errors related to the Definition of
                             akuntansi. Amendemen PSAK 25 ini                                Accounting Estimates. This amendment to
                             memperkenalkan definisi estimasi akuntansi                      SFAS No. 25 introducing the definition of
                             dan mengklarifikasi teknik estimasi dan                         accounting estimates and clarifies estimation
                             teknik penilaian merupakan contoh dari                          techniques and valuation techniques are
                             teknik pengukuran yang digunakan dalam                          examples of measurement techniques used in
                             mengembangkan estimasi akuntansi, serta                         developing accounting estimates, as well as
                             perubahan     dalam    estimasi    akuntansi                    changes in accounting estimates resulting
                             sebagai    hasil   informasi    baru    atau                    from new information or new developments
                             perkembangan baru yang bukan merupakan                          that are not corrections of errors.
                             koreksi kesalahan.




                                                                      49
1116 PT Bank Mandiri (Persero) Tbk
Page 610
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                       (continued)

     b.   Perubahan kebijakan akuntansi (lanjutan)                   b.   Changes in accounting policies (continued)

          Pada tanggal 1 Januari 2023, terdapat standar                   On 1 January 2023, there are new and revised or
          baru dan penyesuaian atau amendemen                             amendment towards several standards that are
          terhadap beberapa standar yang masih berlaku                    relevant to the Group operation which is effective
          yang relevan dengan operasi Grup yang berlaku                   for application from that date as follows:
          efektif sejak tanggal tersebut yaitu sebagai                    (continued)
          berikut: (lanjutan)

          Ͳ   Amendemen PSAK 46 tentang Pajak                             Ͳ   Amendment to SFAS No. 46 on Income Taxes
              Penghasilan tentang Pajak Tangguhan                             Related to Deferred Tax Assets and Liabilities
              Terkait Aset dan Liabilitas Yang Timbul Dari                    Arise from a Single Transaction.              This
              Transaksi Tunggal. Amendemen PSAK 46                            amendment to SFAS No. 46 requires that
              ini mewajibkan agar entitas mengakui aset                       entities recognize both deferred tax assets
              maupun liabilitas pajak tangguhan pada saat                     and liabilities at their initial recognition, such
              pengakuan awalnya misalnya dari transaksi                       as from lease transactions, in order to
              sewa, untuk menghilangkan perbedaan                             eliminate variations in practice in the field for
              praktik di lapangan atas transaksi tersebut                     that transaction and similar transactions.
              dan transaksi serupa.

          Ͳ   Perubahan PSAK 107 tentang Akuntansi                        Ͳ   Changes to SFAS No. 107 concerning Ijarah
              Ijarah. Hal ini berdampak pada perubahan                        Accounting. This has an impact on changes in
              kebijakan penerapan ijarah multijasa atas                       the policy for implementing multiservice ijarah
              akad sewa yang masih berlaku saat awal                          on lease contracts that are still valid at the
              implementasi PSAK tersebut. Ruang Lingkup                       time of the initial implementation of the SFAS.
              dari PSAK 107 tersebut mencakup akad                            The scope of SFAS 107 covers ijarah
              ijarah baik yang digunakan di sektor                            contracts both used in the financial sector and
              keuangan atau pun sektor riil. Pengaturan                       the real sector. The arrangements in this
              pada PSAK ini termasuk Ijarah Aset, Ijarah                      SFAS include Asset Ijarah, Direct Service
              Jasa Langsung dan Ijarah Jasa Tidak                             Ijarah and Indirect Service Ijarah. The
              Langsung. Penerapan PSAK tersebut juga                          implementation of this SFAS also has an
              berdampak penambahan saldo laba akibat                          impact on the addition of retained earnings
              adanya perbedaan metode pembebanan dari                         due to differences in the method of charging
              metode penyusutan aset ijarah dengan                            from the ijarah asset depreciation method
              metode garis lurus (straight line) menjadi                      using straight line method to the decreasing of
              metode penurunan saldo piutang ijarah porsi                     principal portion of outstanding balance ijarah
              pokok. Grup telah membukukan selisih                            receivables method. The Group has recorded
              metode pengakuan pendapatan sesuai                              the difference in the revenue recognition
              PSAK 107 sebesar Rp78.403 pada saldo                            method in accordance with SFAS 107
              laba per 1 Januari 2023.                                        amounting to Rp78,403 in the retained
                                                                              earnings balance as of 1 January 2023.

          Dampak atas penerapan standar baru dan                          The impact of the implementation of the new
          penyesuaian atau amendemen tersebut di atas                     standards and the adjustments/amendments
          tidak material terhadap laporan keuangan                        mentioned above are not material to the Group’s
          konsolidasian Grup.                                             consolidated financial statements.




                                                       50
                                                                                                        ANNUAL REPORT 2023         1117
Page 611
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    c.   Instrumen keuangan                                           c. Financial instruments

                         A.   Aset keuangan                                               A.   Financial assets

                              Grup mengklasifikasikan aset keuangannya                         The Group classified its financial assets in the
                              dalam kategori (a) aset keuangan yang                            following categories (a) financial assets
                              diukur pada nilai wajar melalui laba rugi, (b)                   measured at fair value through profit or loss,
                              aset keuangan yang diukur pada nilai wajar                       (b) financial assets measured at fair value
                              melalui penghasilan komprehensif lain dan                        through other comprehensive income, and (c)
                              (c) aset keuangan yang diukur pada biaya                         financial assets measured at amortised cost.
                              perolehan diamortisasi.

                              Grup memiliki instrumen keuangan utang                           The Group has debt financial instruments and
                              dan instrumen keuangan ekuitas. Grup                             equity financial instruments. The Group further
                              selanjutnya mengukur semua investasi                             measures all equity investments at fair value.
                              ekuitas pada nilai wajar. Saat pengakuan                         On initial recognition, the Group may make an
                              awal, Grup dapat membuat pilihan yang tak                        irrevocable choice to subsequent changes in
                              terbatalkan untuk menyajikan perubahan                           the fair value of investments in equity
                              selanjutnya pada nilai wajar investasi dalam                     instruments in other comprehensive income.
                              instrumen ekuitas dalam penghasilan
                              komprehensif lain.

                              Grup menggunakan 2 (dua) dasar untuk                             The Group used 2 (two) methods to classify its
                              mengklasifikasikan aset keuangan yaitu                           financial assets, which based on the Group’s
                              model bisnis Grup dalam mengelola aset                           business model in managing the financial
                              keuangan dan karakteristik arus kas                              assets, and the contractual cash flow of the
                              kontraktual pembayaran pokok dan bunga                           financial assets solely payment of principal
                              (Solely Payment of Principal and Interest                        and interest (“SPPI”).
                              (“SPPI”) dari aset keuangan.

                              Pengujian SPPI                                                   SPPI test

                              Sebagai langkah pertama dari proses                              As a first step of its classification process, the
                              klasifikasi,  Grup   menilai  persyaratan                        Group assesses the contractual terms of
                              kontraktual keuangan untuk mengidentifikasi                      financial to identify whether they meet the
                              apakah mereka memenuhi pengujian SPPI.                           SPPI test.

                              Pokok pinjaman untuk tujuan pengujian ini                        Principal, for the purpose of this test is defined
                              didefinisikan sebagai nilai wajar dari aset                      as the fair value of the financial asset at initial
                              keuangan pada pengakuan awal dan dapat                           recognition and may change over the life of
                              berubah selama umur aset keuangan                                the financial asset (for example, if there are
                              (misalnya, jika ada pembayaran pokok atau                        repayments of principal or amortisation of the
                              amortisasi premi/diskon).                                        premium/discount).

                              Elemen bunga yang paling signifikan dalam                        The most significant element of interest within
                              perjanjian      kredit  biasanya      adalah                     a arrangement are typically the consideration
                              pertimbangan atas nilai waktu dari uang dan                      for the time value of money and credit risk. To
                              risiko kredit. Untuk membuat penilaian SPPI,                     perform the SPPI assessment, the Group
                              Grup menerapkan pertimbangan dan                                 applies judgement and considers relevant
                              memperhatikan faktor-faktor yang relevan                         factors such as the currency in which the
                              seperti mata uang dimana aset keuangan                           financial asset is denominated, and the period
                              didenominasikan dan periode pada saat                            for which the interest rate is set.
                              suku bunga ditetapkan.




                                                                        51
1118 PT Bank Mandiri (Persero) Tbk
Page 612
 CORPORATE                     ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
 GOVERNANCE                    & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)

     c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

          A.   Aset keuangan (lanjutan)                                       A.   Financial assets (continued)

               Penilaian model bisnis                                              Business model assessment

               Grup    menentukan      model   bisnisnya                           The Group determines its business model at
               berdasarkan     tingkat    yang    paling                           the level that best reflects how group manages
               mencerminkan bagaimana Grup mengelola                               group of financial assets to achieve its
               kelompok atas aset keuangannya untuk                                business objective.
               mencapai tujuan bisnisnya.

               Model bisnis Grup tidak dinilai berdasarkan                         The Group’s business model is not assessed
               masing-masing instrumennya, tetapi pada                             by each instrument, but at a higher level of
               tingkat portofolio secara agregat yang lebih                        aggregated portfolios and is based on
               tinggi dan didasarkan pada faktor-faktor                            observable factors such as:
               yang dapat diamati seperti:

               Ͳ     Bagaimana kinerja model bisnis dan                            Ͳ   How the performance of the business
                     aset keuangan yang dimiliki dalam                                 model and the financial assets held within
                     model bisnis tersebut dievaluasi dan                              that business model are evaluated and
                     dilaporkan kepada personel manajemen                              reported to the entity’s key management
                     kunci;                                                            personnel;
               Ͳ     Risiko yang mempengaruhi kinerja                              Ͳ   The risks that affect the performance of
                     model bisnis (dan aset keuangan yang                              the business model (and the financial
                     dimiliki dalam model bisnis tersebut) dan                         assets held within that business model)
                     khususnya, bagaimana cara risiko                                  and, in particular the way those risks are
                     tersebut dikelola;                                                managed;
               Ͳ     Bagaimana           manajer        bisnis                     Ͳ   How       business      managers       are
                     dikompensasi       (misalnya,     apakah                          compensated (for example, whether the
                     kompensasi didasarkan pada nilai wajar                            compensation is based on the fair value
                     dari aset yang dikelola atau pada arus                            of the assets managed or on the
                     kas kontraktual yang tertagih);                                   contractual cash flows collected);
               Ͳ     Frekuensi, nilai dan waktu penjualan                          Ͳ   The expected frequency, value, and
                     yang diharapkan, juga merupakan                                   timing of sales are also important aspects
                     aspek penting dari penilaian Grup.                                of the Group’s assessment.

               Penilaian model bisnis didasarkan pada                              The business model assessment is based on
               skenario yang diharapkan secara wajar                               reasonably expected scenarios without taking
               tanpa mempertimbangkan skenario “worst                              “worst case” or “stress case” scenarios into
               case” atau “stress case”. Jika arus kas                             account. If cash flows after initial recognition
               setelah pengakuan awal direalisasikan                               are realised in a way that is different from the
               dengan cara yang berbeda dari yang awal                             Group’s initial expectations, the Group does
               diharapkan, Grup tidak mengubah klasifikasi                         not change the classification of the remaining
               aset keuangan dimiliki yang tersisa dalam                           financial assets held in that business model,
               model bisnis tersebut, tetapi memasukkan                            but incorporates such information when
               informasi    tersebut    dalam  melakukan                           assessing newly originated or newly
               penilaian atas aset keuangan yang baru atau                         purchased financial assets going forward.
               yang baru dibeli selanjutnya.

               (a)   Aset keuangan yang diukur pada nilai                          (a) Financial assets measured at fair value
                     wajar melalui laba rugi                                           through profit or loss

                     Aset keuangan diukur pada nilai wajar                             Financial assets are measured at fair
                     melalui laba rugi kecuali tes model                               value through profit or loss unless the
                     bisnis dan tes arus kas kontraktual                               business model test and the contractual
                     menunjukkan bahwa aset keuangan                                   cash flow test show that financial assets
                     masuk ke dalam klasifikasian diukur                               entering into classifications are measured
                     pada biaya perolehan diamortisasi atau                            at amortised cost or fair value through
                     nilai  wajar     melalui penghasilan                              other comprehensive income.
                     komprehensif lain.



                                                          52
                                                                                                            ANNUAL REPORT 2023        1119
Page 613
            MAIN                          MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                           PROFILE                          ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                          (continued)

                    c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)

                         A.   Aset keuangan (lanjutan)                                      A.   Financial assets (continued)

                              Penilaian model bisnis (lanjutan)                                  Business model assessment (continued)

                              (a)   Aset keuangan yang diukur pada nilai                         (a) Financial assets measured at fair value
                                    wajar melalui laba rugi (lanjutan)                               through profit or loss (continued)

                                    Klasifikasi ini ditujukan untuk instrumen                        This classification is intended for held for
                                    keuangan        yang      dimiliki   untuk                       trading financial instruments or at the time
                                    diperdagangkan        atau    pada    saat                       of initial recognition has been determined
                                    pengakuan awal telah ditetapkan oleh                             by the Group to be measured at fair value
                                    Grup untuk diukur pada nilai wajar                               through profit or loss.
                                    melalui laba rugi.

                                    Aset keuangan dikategorikan sebagai                              A financial asset is classified as held for
                                    dimiliki untuk diperdagangkan jika                               trading, if it has been acquired or held
                                    diperoleh atau dimiliki terutama untuk                           principally for the purpose of selling or
                                    tujuan dijual atau dibeli kembali dalam                          buying in the near term or on initial
                                    waktu dekat atau jika merupakan bagian                           recognition it is part of a portfolio of
                                    dari portofolio instrumen keuangan                               identified financial instruments that the
                                    tertentu yang dikelola bersama dan                               entity manages together and has a recent
                                    terdapat bukti mengenai pola ambil                               actual pattern of short-term profit-taking.
                                    untung dalam jangka pendek yang
                                    terkini.

                                    Untuk entitas anak asuransi, aset                                Financial assets for subsidiary in
                                    keuangan dikategorikan sebagai aset                              insurance industry classified at fair value
                                    keuangan diukur pada nilai wajar                                 through profit or loss if the financial assets
                                    melalui laba rugi, jika dimiliki untuk                           are held to cover its insurance liabilities
                                    mencadangkan liabilitas asuransi yang                            which measure at fair value of the
                                    diukur pada nilai wajar dari aset terkait.                       underlying assets. Financial instruments
                                    Instrumen         keuangan          yang                         classified   into    this     category     are
                                    dikelompokkan ke dalam kategori ini                              recognized at fair value on initial
                                    diakui pada nilai wajarnya pada saat                             recognition,    transaction       costs    are
                                    pengakuan awal. Biaya transaksi diakui                           recognized directly in the consolidated
                                    secara langsung ke dalam laporan laba                            statements of profit or loss and other
                                    rugi dan penghasilan komprehensif lain                           comprehensive income.
                                    konsolidasian.

                                    Keuntungan dan kerugian yang timbul                              Gains and losses arising from changes in
                                    dari perubahan nilai wajar, penjualan                            fair value, sale of financial instruments
                                    instrumen keuangan dan pendapatan                                and interest income on financial
                                    bunga dari instrumen keuangan dalam                              instruments measured at fair value
                                    kelompok nilai wajar melalui laba rugi                           through profit or loss are recognized in
                                    konsolidasian     dicatat   di   akun                            the consolidated statements of profit or
                                    pendapatan dari kelompok nilai wajar                             loss and other comprehensive income
                                    melalui laba rugi – neto pada laporan                            recorded as income from fair value
                                    laba rugi dan penghasilan komprehensif                           through profit or loss classification - net.
                                    lain.

                              (b)   Aset keuangan yang diukur pada nilai                         (b) Financial assets measured at fair value
                                    wajar melalui penghasilan komprehensif                           through other comprehensive income
                                    lain

                                    Aset keuangan dikelola dalam model                               Financial assets are managed in a
                                    bisnis yang tujuannya akan terpenuhi                             business model which objectives will be
                                    dengan     mendapatkan      arus    kas                          fulfilled by obtaining contractual cash
                                    kontraktual dan menjual aset keuangan                            flows and selling financial assets and
                                    dan persyaratan kontraktual dari aset                            contractual requirements of financial
                                    keuangan yang pada tanggal tertentu                              assets which on a certain date received
                                    memperoleh arus kas yang semata dari                             cash flow solely from payment of principal
                                    pembayaran pokok dan bunga (solely                               and interest of the amount owed.
                                    payments of principal and interest) dari
                                    jumlah pokok terutang.


                                                                          53
1120 PT Bank Mandiri (Persero) Tbk
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 CORPORATE                     ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                             Financial
 GOVERNANCE                    & PRACTICES                        RESPONSIBILITY                           KEUANGAN   2023
                                                                                                             Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          A.   Aset keuangan (lanjutan)                                        A.   Financial assets (continued)

               Penilaian model bisnis (lanjutan)                                    Business model assessment (continued)

               (b)   Aset keuangan yang diukur pada nilai                           (b) Financial assets measured at fair value
                     wajar melalui penghasilan komprehensif                             through other comprehensive income
                     lain (lanjutan)                                                    (continued)

                     Pada      saat   pengakuan      awalnya,                           At the initial recognition, debt instruments
                     instrumen utang yang diukur pada nilai                             measured at fair value through other
                     wajar melalui penghasilan komprehensif                             comprehensive income are recognized at
                     lain diakui pada nilai wajarnya ditambah                           the fair value plus the transaction costs
                     biaya transaksi dan selanjutnya diukur                             and subsequently measured at fair value
                     pada nilai wajarnya dimana keuntungan                              where the gain or loss from changes in
                     atau kerugian atas perubahan nilai                                 fair value, gain or loss from the exchange
                     wajar, keuntungan atau kerugian atas                               rate, and impairment, are recognized as
                     selisih kurs dan kerugian penurunan                                other comprehensive income. Dividend
                     nilai, diakui sebagai penghasilan                                  from equity instrument is recognized in
                     komprehensif      lain.   Dividen    dari                          profit or loss.
                     instrumen ekuitas diakui di dalam pos
                     laba rugi.

                     Kerugian kredit ekspektasian diakui                                Expected credit losses are recognized as
                     sebagai penambah dari penghasilan                                  additions of other comprehensive income
                     komprehensif lain di dalam laporan                                 in the statement of financial position (not
                     posisi keuangan (tidak mengurangi                                  reducing the number of recorded financial
                     jumlah tercatat aset keuangan dalam                                assets in financial statements). Interest
                     laporan keuangan). Pendapatan bunga                                income is calculated using the effective
                     dihitung menggunakan metode suku                                   interest rate method.
                     bunga efektif.

                     Grup selanjutnya mengukur semua                                    The Group further measures all equity
                     investasi ekuitas pada nilai wajar. Jika                           investments at fair value. If group
                     manajemen Grup telah memilih untuk                                 management has chosen to present fair
                     menyajikan keuntungan dan kerugian                                 value gains and losses on equity
                     nilai wajar atas investasi ekuitas dalam                           investments in other comprehensive
                     penghasilan komprehensif lain, tidak                               income, there is no reclassification of fair
                     ada reklasifikasi keuntungan dan                                   value gains and losses to profit or loss
                     kerugian nilai wajar ke laba rugi setelah                          upon derecognition of those investments.
                     penghentian      pengakuan       investasi                         Dividends from equity instruments are
                     tersebut. Dividen dari instrumen ekuitas                           recognized in profit or loss.
                     diakui di dalam pos laba rugi.

               (c)   Aset keuangan yang diukur pada biaya                           (c) Financial assets measured at amortised
                     perolehan diamortisasi                                             cost

                     Aset keuangan diukur pada biaya                                    Financial assets are measured at
                     perolehan       diamortisasi   jika   aset                         amortised cost if the financial asset is
                     keuangan dikelola dalam model bisnis                               managed in a business model to obtain a
                     yang bertujuan untuk memiliki aset                                 contractual cash flow and the contractual
                     keuangan dalam rangka mendapatkan                                  arrangement of a financial asset at
                     arus kas kontraktual dan persyaratan                               certain date to obtain cash flow solely
                     kontraktual dari aset keuangan yang                                from payments of principal and interest of
                     pada tanggal tertentu memperoleh arus                              the amount owed.
                     kas semata dari pembayaran pokok dan
                     bunga (solely payments of principal and
                     interest) dari jumlah pokok terutang.




                                                           54
                                                                                                             ANNUAL REPORT 2023        1121
Page 615
            MAIN                          MANAGEMENT                          COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                             PROFILE                           ANALYSIS


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                            (continued)

                    c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

                         A.   Aset keuangan (lanjutan)                                        A.   Financial assets (continued)

                              Penilaian model bisnis (lanjutan)                                    Business model assessment (continued)

                              (c)   Aset keuangan yang diukur pada biaya                           (c) Financial assets measured at amortised
                                    perolehan diamortisasi (lanjutan)                                  cost (continued)

                                    Pada saat pengakuan awal, aset                                      At initial recognition, the financial assets
                                    keuangan yang diukur pada biaya                                     measured at amortised cost are
                                    perolehan diamortisasi diakui pada nilai                            recognised at the fair value plus the
                                    wajarnya ditambah biaya transaksi dan                               transaction costs and subsequently
                                    selanjutnya diukur pada biaya perolehan                             measured at amortised cost by using the
                                    diamortisasi dengan menggunakan suku                                effective interest rate.
                                    bunga efektif.

                                    Pendapatan bunga dari aset keuangan                                 Interest income from financial assets
                                    yang diukur pada biaya perolehan                                    measured at amortised cost is recorded
                                    diamortisasi dicatat dalam laporan laba                             in the consolidated statements of profit or
                                    rugi dan penghasilan komprehensif lain                              loss and other comprehensive income
                                    konsolidasian dan diakui sebagai                                    and is recognised as "Interest income".
                                    “Pendapatan bunga”. Ketika penurunan                                When the decline in value occurs, the
                                    nilai terjadi, kerugian penurunan nilai                             impairment loss is recognised as a
                                    diakui sebagai pengurang dari nilai                                 deduction to the carrying amount of the
                                    tercatat aset keuangan dan diakui di                                financial asset and is recognised in the
                                    dalam laporan keuangan konsolidasian                                financial statements as "Allowance for
                                    sebagai      “Pembentukan     cadangan                              impairment losses".
                                    kerugian penurunan nilai”.

                              Pengakuan                                                             Recognition

                              Bank menggunakan akuntansi tanggal                                    The Bank use transactions date record to
                              perdagangan untuk mencatat transaksi efek-                            transactions in securities and government
                              efek dan obligasi pemerintah.                                         bonds.

                         B.   Liabilitas keuangan                                             B.   Financial liabilities

                              Grup mengklasifikasikan liabilitas keuangan                          The Group classifies its financial liabilities into
                              dalam kategori (a) liabilitas keuangan yang                          the category of (a) financial liabilities
                              diukur pada nilai wajar melalui laba rugi dan;                       measured at fair value through profit or loss
                              (b) liabilitas keuangan yang diukur dengan                           and; (b) financial liabilities measured at
                              biaya perolehan diamortisasi.                                        amortised cost.

                              (a) Liabilitas keuangan yang diukur pada nilai                       (a) Financial liabilities measured at fair value
                                  wajar melalui laba rugi                                              through profit or loss

                                    Kategori ini terdiri dari dua sub-kategori:                        This category comprises of two sub-
                                    liabilitas   keuangan       diklasifikasikan                       categories: financial liabilities classified as
                                    sebagai nilai wajar melalui laba rugi dan                          fair value through profit or loss and
                                    liabilitas keuangan yang pada saat                                 financial liabilities designated by the
                                    pengakuan awal telah ditetapkan oleh                               Group as at fair value through profit or
                                    Grup untuk diukur pada nilai wajar                                 loss upon initial recognition.
                                    melalui laba rugi.




                                                                            55
1122 PT Bank Mandiri (Persero) Tbk
Page 616
 CORPORATE                   ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                          (continued)

     c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)

          B.   Liabilitas keuangan (lanjutan)                                B. Financial liabilities (continued)

               (a) Liabilitas keuangan yang diukur pada                          (a) Financial liabilities measured at fair value
                   nilai wajar melalui laba rugi (lanjutan)                          through profit or loss (continued)

                   Liabilitas    keuangan    diklasifikasikan                         A financial liability is classified as fair
                   sebagai nilai wajar melalui laba rugi jika                         value through profit or loss, if it is
                   diperoleh terutama untuk tujuan dijual                             acquired or incurred principally for the
                   atau dibeli kembali dalam waktu dekat                              purpose of selling or repurchasing it in the
                   atau jika merupakan bagian dari                                    near term or if it is part of a portfolio of
                   portofolio instrumen keuangan tertentu                             identified financial instruments that are
                   yang dikelola bersama dan terdapat                                 managed together and for which there is
                   bukti mengenai pola ambil untung dalam                             evidence of a recent actual pattern of
                   jangka pendek yang terkini. Derivatif                              short-term profit-taking. Derivatives are
                   diklasifikasikan sebagai liabilitas nilai                          also categorised as fair value through
                   wajar melalui laba rugi kecuali                                    profit or loss liabilities unless they are
                   ditetapkan dan efektif sebagai instrumen                           designated and effective as hedging
                   lindung nilai arus kas.                                            instruments.

                   Keuntungan dan kerugian yang timbul                                Gains and losses arising from changes in
                   dari perubahan nilai wajar liabilitas                              fair value of financial liabilities classified
                   keuangan yang diklasifikasikan sebagai                             as fair value through profit or loss are
                   nilai wajar melalui laba rugi dicatat                              recorded in the consolidated statements
                   dalam     laporan      laba rugi    dan                            of profit or loss and other comprehensive
                   penghasilan        komprehensif     lain                           income as income from fair value through
                   konsolidasian sebagai pendapatan dari                              profit or loss - net. Interest expense from
                   kelompok nilai wajar melalui laba rugi -                           financial liability classified as trading are
                   neto. Beban bunga dari liabilitas                                  recorded as income from fair value
                   keuangan diklasifikasikan sebagai nilai                            through profit or loss - net.
                   wajar melalui laba rugi dicatat di akun
                   pendapatan dari kelompok nilai wajar
                   melalui laba rugi - neto.

                   Jika Grup pada pengakuan awal telah                                If the Group designated certain debt
                   menetapkan instrumen utang tertentu                                securities upon initial recognition as at fair
                   sebagai nilai wajar melalui laba rugi                              value through profit or loss (fair value
                   (opsi nilai wajar), maka selanjutnya,                              option), then this designation cannot be
                   penetapan ini tidak dapat diubah.                                  changed subsequently.

                   Perubahan nilai wajar terkait dengan                               Changes of fair value related to financial
                   liabilitas keuangan yang ditetapkan                                liabilities designated at fair value through
                   untuk diukur pada nilai wajar melalui                              profit or loss are recognised in income
                   laba rugi diakui di dalam pendapatan                               from fair value through profit or loss - net.
                   dari kelompok nilai wajar melalui laba                             Interest expense from financial liabilities
                   rugi - neto. Beban bunga dari liabilitas                           designated at fair value through profit or
                   keuangan yang ditetapkan untuk diukur                              loss are recorded as income from fair
                   pada nilai wajar melalui laba rugi dicatat                         value through profit or loss - net.
                   di akun pendapatan dari kelompok nilai
                   wajar melalui laba rugi - neto.




                                                         56
                                                                                                           ANNUAL REPORT 2023          1123
Page 617
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                       (continued)

                    c.   Instrumen keuangan (lanjutan)                               c. Financial instruments (continued)

                         B.   Liabilitas keuangan (lanjutan)                             B. Financial liabilities (continued)

                              (b) Liabilitas keuangan yang diukur dengan                      (b) Financial liabilities at amortised cost
                                  biaya perolehan diamortisasi

                                  Grup       mengklasifikasikan   seluruh                         The Group classifies all financial liabilities
                                  liabilitas keuangan sehingga setelah                            after initial recognition as measured at
                                  pengakuan awal liabilitas keuangan                              amortised cost, except:
                                  diukur      pada     biaya    perolehan
                                  diamortisasi, kecuali:

                                  1.   Liabilitas keuangan yang diukur                             1.   Financial liabilities measured at fair
                                       pada nilai wajar melalui laba rugi;                              value through profit or loss;
                                  2.   Liabilitas keuangan yang timbul                             2.   Financial liabilities that arise when a
                                       ketika pengalihan aset keuangan                                  transfer of a financial asset does not
                                       tidak memenuhi syarat penghentian                                qualify for derecognition or when the
                                       pengakuan atau ketika pendekatan                                 continuing involvement approach is
                                       keterlibatan           berkelanjutan                             applied;
                                       diterapkan;
                                  3.   Kontrak jaminan keuangan;                                   3.   Financial guarantee contracts;
                                  4.   Komitmen      untuk    menyediakan                          4.   Commitment to providing loans at
                                       pinjaman dengan suku bunga di                                    below market interest rates;
                                       bawah pasar;
                                  5.   Imbalan kontijensi yang akan                                5.   Contingent consideration recognized
                                       diselesaikan dengan kas, dimana                                  by the acquirer in the business
                                       Grup bertindak selaku pihak                                      combination.
                                       pengakuisisi     dalam     kombinasi
                                       bisnis.

                                  Pada saat pengakuan awal, liabilitas                            At initial recognition, financial liabilities at
                                  keuangan yang diukur dengan biaya                               amortised cost measured at fair value are
                                  perolehan diamortisasi diukur pada nilai                        deducted by transaction cost. After initial
                                  wajar dikurangi biaya transaksi. Setelah                        recognition, the Group measures all
                                  pengakuan awal, Grup mengukur                                   financial liabilities at amortised cost using
                                  seluruh liabilitas keuangan yang diukur                         the effective interest rate method.
                                  dengan biaya perolehan diamortisasi                             Effective interest rate amortisation is
                                  dengan menggunakan metode suku                                  recognised as “Interest expense”.
                                  bunga efektif. Amortisasi suku bunga
                                  efektif diakui sebagai “Beban bunga”.

                         C.   Penghentian pengakuan                                      C.   Derecognition

                              Penghentian Pengakuan Aset Keuangan                             Derecognition of Financial Assets

                              Penghentian pengakuan aset keuangan                             Financial assets are derecognised when the
                              dilakukan ketika hak kontraktual atas arus                      contractual rights to receive the cash flows
                              kas yang berasal dari aset keuangan                             from these assets have expired or matured or
                              tersebut berakhir, atau ketika aset keuangan                    the assets have been transferred and
                              tersebut telah ditransfer dan secara                            substantially all the risks and rewards of
                              substansial seluruh risiko dan manfaat atas                     ownership of the assets are also transferred
                              kepemilikan aset tersebut telah ditransfer                      (that is, if substantially all the risks and
                              (jika, secara substansial seluruh risiko dan                    rewards have not been transferred, the Group
                              manfaat tidak ditransfer, maka Grup                             evaluates    to    ensure    that  continuing
                              melakukan evaluasi untuk memastikan                             involvement on the basis of any retained
                              keterlibatan berkelanjutan atas kendali yang                    powers of control does not prevent
                              masih dimiliki tidak mencegah penghentian                       derecognition).
                              pengakuan).




                                                                       57
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Page 618
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

          C.   Penghentian pengakuan (lanjutan)                             C.   Derecognition (continued)

               Penghentian Pengakuan Aset Keuangan                               Derecognition       of     Financial      Assets
               (lanjutan)                                                        (continued)

               Agunan yang diserahkan oleh Grup di dalam                         Collateral that is submitted by the Group under
               perjanjian efek-efek yang dijual dengan janji                     the agreement of securities sold under
               untuk dibeli kembali dan transaksi securities                     agreements to repurchase and securities
               lending dan borrowing tidak dihentikan                            lending and borrowing transactions are not
               pengakuannya       karena     Grup     secara                     derecognised because the Group substantially
               substansial masih memiliki seluruh risiko dan                     has all the risks and benefits of the collateral,
               manfaat atas agunan tersebut, berdasarkan                         based on the requirement that the repurchase
               kesepakatan bahwa harga pembelian                                 price has been determined at the beginning,
               kembali telah ditentukan di awal, sehingga                        so that the criteria for derecognition are not
               kriteria penghentian pengakuan tidak                              met.
               terpenuhi.

               Aset keuangan yang dialihkan kepada pihak                         Financial assets that are transferred to third
               ketiga tetapi tidak memenuhi syarat                               parties but do not qualify for derecognition
               penghentian pengakuan disajikan di dalam                          criteria are presented in the consolidated
               laporan posisi keuangan konsolidasian                             statements of financial position as “Other
               sebagai “Aset lain-lain - Tagihan atas efek-                      assets - Receivables from securities and
               efek dan obligasi pemerintah yang                                 government bonds pledged as collateral”,
               diagunkan”, dimana pihak penerima memiliki                        which the recipient has the right to sell or
               hak untuk menjual atau mentransfer kembali.                       transfer back.

               Penghentian       Pengakuan        Liabilitas                     Derecognition of Financial Liabilities
               Keuangan

               Penghentian pengakuan liabilitas keuangan                         Financial liabilities are derecognised when the
               dilakukan jika liabilitas keuangan tersebut                       financial liabilities have expired because the
               telah berakhir karena kewajiban yang                              obligations specified in the contract have been
               ditetapkan dalam kontrak telah dilepaskan,                        released, canceled or expired or if there is a
               dibatalkan atau kedaluwarsa atau apabila                          substantial change in the terms of a financial
               terdapat perubahan yang substansial dalam                         liability, the financial liability contract before
               persyaratan suatu liabilitas keuangan, maka                       the change will be written off and the Group
               kontrak    liabilitas   keuangan    sebelum                       will recognize the new financial liability.
               perubahan akan dihapus dan Grup akan
               mengakui liabilitas keuangan baru.

               Hapusbuku                                                         Write-offs

               Dalam hal penghapusbukuan aset keuangan                           In the case of financial assets’ write-off is a
               merupakan      kelanjutan  dari   tindakan                        continuation of the financial assets’ settlement
               penyelesaian aset keuangan dengan cara                            by taking over collaterals, the written-off
               pengambilalihan agunan, maka jumlah yang                          amount is approximately equal to the
               dihapusbuku adalah sebesar selisih kurang                         difference between the fair value of
               antara nilai wajar agunan yang diambil alih                       repossessed assets after taking into account
               setelah memperhitungkan taksiran biaya                            the financial assets’ cost of sales and carrying
               penjualan dengan nilai tercatat aset                              amount.
               keuangan.

               Aset keuangan dapat dihapusbuku apabila                           Financial assets can be written-off when the
               cadangan kerugian penurunan nilai telah                           allowance for impairment losses have been
               dibentuk 100%.                                                    100% established.

               Penghapusbukuan        dilakukan  secara                          Full write-off is done to the financial assets’
               keseluruhan terhadap nilai tercatat aset                          carrying amount by debiting the allowance for
               keuangan dengan mendebit cadangan                                 impairment losses.
               kerugian penurunan nilai.




                                                        58
                                                                                                           ANNUAL REPORT 2023         1125
Page 619
            MAIN                         MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                          (continued)
                    c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)
                         D.   Modifikasi atas arus kas aset keuangan                        D.   Modification of financial assets cash flow
                              Penilaian      apakah     modifikasi    atau                       An assessment of whether a financial asset
                              restrukturisasi atas suatu aset keuangan                           has     been     modified     or    restructured
                              menghasilkan atau tidak menghasilkan                               substantially or not substantially derecognised
                              penghentian pengakuan, dilakukan oleh unit                         is carried out by a business unit whose
                              bisnis     yang     berwenang     melakukan                        authorized to modify or restructure financial
                              restrukturisasi aset keuangan tersebut.                            assets.
                              Grup mengakui aset keuangan dimodifikasi                           Modifications or restructuring to financial
                              atau direstrukturisasi secara substansial dan                      assets are considered substantial and the
                              menghasilkan       penghentian       pengakuan                     Group will cease to recognize the original
                              ketika:                                                            financial assets when:
                              (a) aset     keuangan       (atau    bagiannya)                    (a) the financial asset (or portion thereof)
                                   berakhir, yaitu jika debitur secara hukum                          expires, that is, if the debtor is legally
                                   dibebaskan dari tanggung jawab utama                               released from primary responsibility for
                                   atas aset tersebut (atau bagiannya),                               the asset (or any portion thereof), either
                                   baik melalui proses hukum maupun oleh                              by legal process or by the creditor
                                   kreditur pembuatan kontrak kredit baru                             entering into a new credit contract (for
                                   (sebagai      contoh,       opsi     equity                        example, the equity conversion option); or
                                   conversion); atau
                              (b) terdapat konversi mata uang.                                   (b) there is a currency conversion.
                              Grup menilai apakah modifikasi atau                                The Group will measure the substantially and
                              restrukturisasi atas suatu aset keuangan                           not substantially modified financial assets as
                              menghasilkan atau tidak menghasilkan                               follows:
                              penghentian pengakuan dengan cara
                              berikut:
                              (a) Modifikasi     aset    keuangan      yang                      (a) Substantial   Modification    of   Financial
                                  menghasilkan penghentian pengakuan                                 Assets
                                  aset keuangan
                                  1. Saat arus kas kontraktual atas aset                             1.   When the contractual cashflow on a
                                      keuangan direstrukturisasi atau                                     financial asset is restructured or
                                      dimodifikasi (antara lain ketika                                    modified (including when a credit is
                                      kredit direstrukturisasi) dimana                                    restructured) and the restructuring or
                                      restrukturisasi     atau    modifikasi                              modification results in derecognition
                                      tersebut menghasilkan penghentian                                   of the financial asset, therefore the
                                      pengakuan aset keuangan, Grup                                       Group will record the financial asset
                                      akan mencatat aset keuangan                                         as a new/modified financial asset on
                                      tersebut sebagai aset keuangan                                      the modification/restructuring date.
                                      baru/modifikasian pada tanggal
                                      modifikasi/restrukturisasi.
                                  2. Selisih nilai tercatat aset keuangan                            2.   The difference between the gross
                                      sebelum modifikasi/restrukturisasi                                  amount of the initial financial assets
                                      dengan nilai wajar aset setelah                                     and the fair value of the modified or
                                      modifikasi/restrukturisasi diakui di                                restructuring assets recorded as profit
                                      laba rugi.                                                          or loss.
                                  3. Pendapatan atau biaya transaksi                                 3.   Transaction income or costs incurred
                                      yang terjadi sehubungan dengan                                      in connection with a modification
                                      kejadian modifikasi diakui sebagai                                  event recognized as part of gain or
                                      bagian dari keuntungan atau                                         loss on the modification.
                                      kerugian atas modifikasi tersebut.                             4.   Group assess whether new/modified
                                  4. Grup melakukan penilaian apakah                                      financial assets are assets originating
                                      aset keuangan baru/modifikasian                                     from impaired financial assets or
                                      merupakan aset yang berasal dari                                    Purchased or Originated Credit-
                                      aset keuangan memburuk atau                                         Impaired (“POCI”) Financial Asset.
                                      Puchased or Originated Credit-
                                      Impaired (“POCI”) Financial Asset.                             5.   Recognition of interest income on
                                  5. Pengakuan pendapatan bunga atas                                      assets originating from Impaired
                                      aset yang berasal dari aset                                         financial assets is calculated based
                                      keuangan memburuk ditentukan                                        on an effective interest rate adjusted
                                      berdasarkan suku bunga efektif                                      for credit risk (risk-adjusted effective
                                      yang telah disesuaikan dengan                                       interest rate) to discount the cash
                                      risiko kredit (risk-adjusted effective                              flows of modified financial assets.
                                      interest rate) untuk mendiskontokan
                                      arus kas aset keuangan yang telah
                                      dimodifikasi.


                                                                          59
1126 PT Bank Mandiri (Persero) Tbk
Page 620
 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                            Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                           KEUANGAN   2023
                                                                                                            Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)
     c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)
          D.   Modifikasi atas arus kas aset keuangan                         D.   Modification of financial assets cash flow
               (lanjutan)                                                          (continued)

               Grup menilai apakah modifikasi atau                                 The Group will measure the substantially and
               restrukturisasi atas suatu aset keuangan                            not substantially modified financial assets as
               menghasilkan atau tidak menghasilkan                                follows (continued):
               penghentian pengakuan dengan cara berikut
               (lanjutan):

               (b) Modifikasi aset keuangan yang tidak                             (b) Non-Substantial Modification of Financial
                   menghasilkan penghentian pengakuan                                  Assets
                   aset keuangan
                   1. Saat Grup melakukan renegosiasi                                  1.   When the Group renegotiates or
                       atau modifikasi arus kas kontraktual                                 modifies contractual cash flows of
                       atas aset keuangan (antara lain                                      financial assets (including when loans
                       ketika kredit direstrukturisasi) yang                                are restructured) that do not meet the
                       tidak memenuhi kriteria modifikasi                                   criteria for substantial modification of
                       aset keuangan yang substansial di                                    financial     assets     above,      the
                       atas, maka restrukturisasi atau                                      restructuring or modification does not
                       modifikasi        tersebut        tidak                              result in derecognition of the financial
                       menghasilkan             penghentian                                 assets.
                       pengakuan aset keuangan.
                   2. Jumlah       tercatat    bruto      aset                         2.   The gross carrying amount of financial
                       keuangan dihitung sebesar nilai kini                                 assets is computed at the net present
                       (net present value) dari arus kas                                    value of modified or restructured
                       neto     kontraktual    yang      telah                              contractual cash flows, discounted at
                       dimodifikasi atau direstrukturisasi                                  the initial effective interest rate.
                       yang didiskontokan menggunakan
                       suku bunga efektif awal.
                   3. Grup         kemudian         mengakui                           3.   The Group then recognizes the gain
                       keuntungan atau kerugian dari                                        or loss from the modification (i.e the
                       modifikasi       (yaitu        sebesar                               change in the gross carrying amount
                       perubahan jumlah tercatat bruto                                      of the financial asset) in the profit or
                       aset keuangan) dalam laporan laba                                    loss.
                       rugi.
                   4. Pendapatan atau biaya transaksi                                  4.   Transaction income or costs incurred
                       yang terjadi sehubungan dengan                                       in connection with a modification
                       kejadian modifikasi diakui sebagai                                   event       are    recognized    as an
                       penyesuaian       terhadap      jumlah                               adjustment to the carrying amount of
                       tercatat aset keuangan yang telah                                    the modified financial asset and
                       dimodifikasi     dan       diamortisasi                              amortised over the remaining term of
                       selama sisa jangka waktu aset                                        the modified financial asset using the
                       keuangan modifikasian tersebut                                       initial effective interest rate.
                       dengan menggunakan suku bunga
                       efektif awal.
                   5. Selisih antara jumlah tercatat bruto
                                                                                       5.   The difference between the gross
                       aset keuangan sebelum dan
                                                                                            carrying amount of a financial asset
                       sesudah         modifikasi         atau
                                                                                            before and after modification or
                       restrukturisasi     diakui     sebagai
                                                                                            restructuring is recognised as a gain
                       kerugian atau keuntungan aset
                                                                                            or loss of the modified financial asset,
                       keuangan       modifikasian,      yang
                                                                                            which is an adjustment to the initial
                       merupakan penyesuaian terhadap
                                                                                            gross carrying amount and is
                       jumlah tercatat bruto awal dan
                                                                                            amortised over the remaining term of
                       diamortisasi selama sisa jangka
                                                                                            the financial asset using the initial
                       waktu aset keuangan dengan
                                                                                            effective interest rate (unwinding
                       menggunakan suku bunga efektif
                                                                                            interest).
                       awal (unwinding interest).




                                                          60
                                                                                                            ANNUAL REPORT 2023       1127
Page 621
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    c.   Instrumen keuangan (lanjutan)                                c. Financial instruments (continued)

                         E.   Reklasifikasi aset keuangan                                 E.   Reclassification of financial assets

                              Grup diperkenankan untuk melakukan                               The Group is allowed to reclassify the financial
                              reklasifikasi atas aset keuangan yang dimiliki                   assets owned if the Group changes the
                              jika Grup mengubah model bisnis untuk                            business model for managing the financial
                              pengelolaan aset keuangan dan Grup tidak                         assets and the Group is not allowed to
                              diperkenankan untuk melakukan reklasifikasi                      reclassify the financial liabilities.
                              atas liabilitas keuangan.

                              Perubahan model bisnis sifatnya harus                            Changes in the business model should
                              berdampak secara signifikan terhadap                             significantly impact the Group's operational
                              kegiatan    operasional    Grup    seperti                       activities such as acquiring, disposal or
                              memperoleh, melepaskan, atau mengakhiri                          discontinued a line of business. In addition,
                              suatu lini bisnis. Selain itu, Grup perlu                        the Group needs to prove the change of
                              membuktikan adanya perubahan tersebut                            business model to external parties.
                              kepada pihak eksternal.

                              Grup akan mereklasifikasi seluruh aset                           The Group will reclassify all financial assets
                              keuangan yang terkena dampak dari                                impacted by changes in the business model.
                              perubahan model bisnis. Perubahan tujuan                         The changes of the Group’s business model
                              model bisnis Grup harus berdampak                                must occur before the reclassification date.
                              sebelum tanggal reklasifikasi.

                              Yang bukan merupakan perubahan model                             The following are not considered as change in
                              bisnis adalah:                                                   business model:
                              (a) perubahan intensi berkaitan dengan                           (a) the change of intention related to certain
                                   aset keuangan tertentu (bahkan dalam                            financial assets (even in situations of
                                   situasi perubahan signifikan dalam                              significant changes in market conditions).
                                   kondisi pasar).
                              (b) hilangnya sementara pasar tertentu                           (b) temporary loss of certain markets for
                                   untuk aset keuangan.                                            financial assets.
                              (c) pengalihan aset keuangan antara                              (c) the transfer of financial assets between
                                   bagian dari Grup dengan model bisnis                            parts of the Group and different business
                                   berbeda.                                                        models.

                              Dampak reklasifikasi aset keuangan                               Impact of reclassificaton of financial assets

                              Grup menerapkan reklasifikasi secara                             The Group applies the reclassifications
                              prospektif dari tanggal reklasifikasi. Grup                      prospectively from the reclassification date.
                              tidak menyajikan kembali keuntungan,                             The Groups does not restate gain, losses
                              kerugian    (termasuk   keuntungan     atau                      (including gains and impairment losses), or
                              kerugian penurunan nilai), atau bunga yang                       previously recognised interest.
                              diakui sebelumnya.




                                                                        61
1128 PT Bank Mandiri (Persero) Tbk
Page 622
 CORPORATE                  ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                       LAPORAN
                                                                                                                 Financial
 GOVERNANCE                 & PRACTICES                         RESPONSIBILITY                                 KEUANGAN   2023
                                                                                                                 Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          E.   Reklasifikasi aset keuangan (lanjutan)                          E.   Reclassification      of      financial    assets
                                                                                    (continued)

               Dampak reklasifikasi      aset       keuangan                        Impact of reclassificaton of financial assets
               (lanjutan)                                                           (continued)

               Dampak reklasifikasi aset keuangan pada                              The impact of reclassification of financial asset
               laba rugi atau ekuitas dan pengukuran                                on profit or loss or equity and its initial
               awalnya adalah sebagai berikut:                                      measurement is as follows:

                      Reklasifikasi/
                     Reclassification              Dampak                   Dampak                     Nilai Tercatat Awal
                                                  Terhadap                 Terhadap                   Setelah Reklasifikasi/
                   Dari/           Ke/           Laba Rugi/                 Ekuitas/             Initial Carrying Amount After
                   From            To             Impact to                Impact to                     Reclassification
                                                Profit or Loss               Equity
                                                                                           1.    Nilai wajar pada tanggal
                                                                                                 reklasifikasi menjadi jumlah
                                                                                                 tercatat bruto yang baru./
                                                                                                 Fair value at the reclassification
                                                                                                 date becomes the new gross
                               Amortised        -                   -                            carrying amount.
                               Cost                                                        2.    Suku bunga efektif ditentukan
                                                                                                 pada dasar nilai wajar aset pada
                                                                                                 tanggal reklasifikasi./
                                                                                                 Effective interest rate is
                FVPL                                                                             determined at the fair value of the
                                                                                                 asset at reclassification date.
                                                                                           1.    Aset keuangan tetap diukur pada
                                                                                                 nilai wajarnya./
                                                                                                 Financial assets is measured at
                                                                                                 fair value.
                               FVOCI            -                   -                      2.    Suku bunga efektif ditentukan
                                                                                                 pada dasar nilai wajar aset pada
                                                                                                 tanggal reklasifikasi./
                                                                                                 Effective interest rate is
                                                                                                 determined at the fair value of the
                                                                                                 asset at reclassification date.
                                                Selisih antara
                                                nilai tercatat
                                                sebelum
                                                reklasifikasi
                                                dan nilai wajar
                                                setelah                                     Nilai wajarnya diukur pada tanggal
                               FVPL             reklasifikasi./     -                       reklasifikasi./
                                                Difference in                               Fair value is measured at
                                                carrying                                    reclassification date.
                                                amount before
                                                reclassification
                                                and fair value
                                                after
                Amortised                       reclassification.
                Cost                                                Selisih antara
                                                                    nilai tercatat          1.   Nilai wajarnya diukur pada
                                                                    sebelum                      tanggal reklasifikasi./
                                                                    reklasifikasi dan            Fair value is measured at
                                                                    nilai wajar                  reclassification date.
                                                                    setelah                 2.   Suku bunga efektif dan
                               FVOCI            -                   reklasifikasi./              pengukuran kerugian kredit
                                                                    Difference in                ekspektasian tidak perlu
                                                                    carrying amount              disesuaikan./
                                                                    before                       Effective interest rate and
                                                                    reclassification             expected credit loss is not
                                                                    and fair value               adjusted.
                                                                    after
                                                                    reclassification.




                                                          62
                                                                                                                ANNUAL REPORT 2023      1129
Page 623
            MAIN                       MANAGEMENT                         COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                           ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

                         E.   Reklasifikasi aset keuangan (lanjutan)                       E.   Reclassification     of     financial    assets
                                                                                                (continued)

                              Dampak reklasifikasi       aset       keuangan                    Impact of reclassificaton of financial assets
                              (lanjutan)                                                        (continued)

                              Dampak reklasifikasi aset keuangan pada                           The impact of reclassification of financial asset
                              laba rugi atau ekuitas dan pengukuran                             on profit or loss or equity and its initial
                              awalnya adalah sebagai berikut (lanjutan):                        measurement is as follows (continued):

                                      Reklasifikasi/               Dampak
                                                                                          Dampak                    Nilai Tercatat Awal
                                     Reclassification           Terhadap Laba
                                                                                          Terhadap                 Setelah Reklasifikasi/
                                                                    Rugi/
                                  Dari/            Ke/                                     Ekuitas/           Initial Carrying Amount After
                                                                Impact to Profit
                                  From             To                                  Impact to Equity               Reclassification
                                                                   or Loss
                                                                                                             1.   Nilai wajar pada tanggal
                                                                                                                  reklasifikasi menjadi jumlah
                                                                                                                  tercatat bruto yang baru
                                                                                       Keuntungan atau
                                                                                                                  ditambah atau dikurangi
                                                                                       kerugian kumulatif
                                                                                                                  keuntungan atau kerugian
                                                                                       dihapus dari
                                                                                                                  kumulatif sebelumnya./
                                                                                       ekuitas dan
                                                                                                                  Fair value at the
                                                                                       disesuaikan
                                                                                                                  reclassification date
                                                                                       terhadap nilai
                                                                                                                  becomes the new gross
                                              Amortised                                wajar./
                                                                -                                                 carrying amount by added or
                                              Cost                                     Cumulative gain
                                                                                                                  deducted the previous
                                                                                       or loss on equity
                                                                                                                  cumulative gain or loss.
                               FVOCI                                                   is taken out and
                                                                                                             2.   Suku bunga efektif dan
                                                                                       adjusted
                                                                                                                  pengukuran kerugian kredit
                                                                                       against the fair
                                                                                                                  ekspektasian tidak perlu
                                                                                       value of the
                                                                                                                  disesuaikan./
                                                                                       financial asset
                                                                                                                  Effective interest rate and
                                                                                                                  expected credit loss is not
                                                                                                                  adjusted.
                                                                Keuntungan atau kerugian kumulatif
                                                                                                             Aset keuangan tetap diukur pada
                                                                direklasifikasi dari ekuitas menjadi
                                                                                                             nilai wajarnya./
                                              FVPL              laba rugi./
                                                                                                             Financial assets is measured at
                                                                Cumulative gain or loss on equity is
                                                                                                             fair value.
                                                                reclassified to profit or loss.




                                                                         63
1130 PT Bank Mandiri (Persero) Tbk
Page 624
 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)

     c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

          F.   Klasifikasi atas instrumen keuangan                            F.   Classification of financial instruments

               Grup mengklasifikasikan aset keuangan ke                            The Group classifies the financial instruments
               dalam klasifikasi tertentu sesuai dengan                            into classes in accordance with the results of
               hasil    pengujian    model     bisnis     dan                      business model testing and contractual
               karakteristik arus kas kontraktual. Klasifikasi                     cashflow characteristics. The classification of
               aset keuangan dapat dilihat pada tabel di                           financial instrument can be seen in the table
               bawah ini:                                                          below:

                               Klasifikasi/Classification                                       Golongan/Class

                                                                               Efek-efek/Marketable securities
                                      Aset keuangan yang diukur pada           Obligasi Pemerintah/Government bonds
                                        nilai wajar melalui laba rugi
                                        (FVPL)/                                Tagihan derivatif (tidak terkait lindung nilai)/
                                        Financial assets measured at            Derivative receivables - non hedging related
                                        fair value through profit or loss      Kredit yang diberikan/Loans
                                        (FVPL)
                                                                               Penyertaan saham/Investments in shares
                                      Aset keuangan yang diukur pada           Efek-efek/Marketable securities
                                        nilai wajar melalui penghasilan
                                        komprehensif lainnya                   Obligasi Pemerintah/Government bonds
                                        (FVOCI)/
                                        Financial assets measured at
                                        fair value through other
                                                                               Kredit yang diberikan/Loans
                                        comprehensive income
                Aset keuangan/          (FVOCI)
                Financial assets                                               Giro pada Bank Indonesia/
                                                                                 Current accounts with Bank Indonesia
                                                                               Giro pada bank lain/
                                                                                 Current accounts with other banks
                                                                               Penempatan pada Bank Indonesia dan bank lain/
                                                                                 Placements with Bank Indonesia and other banks
                                      Aset keuangan yang diukur pada           Tagihan lainnya - transaksi perdagangan/
                                        biaya perolehan diamortisasi             Other receivables - trade transaction
                                        (Amortised Cost)/                      Efek-efek/Marketable securities
                                        Financial assets measured at           Obligasi Pemerintah/Government bonds
                                        amortised cost (Amortised              Tagihan atas efek-efek yang dibeli dengan janji
                                        Cost)                                   dijual kembali/
                                                                               Securities purchased under agreements to resell
                                                                               Piutang pembiayaan konsumen/
                                                                                 Consumer financing receivables
                                                                               Kredit yang diberikan dan piutang/pembiayaan
                                                                                syariah/Loans and sharia receivable/financing
                                                                               Tagihan akseptasi/Acceptance receivables




                                                          64
                                                                                                             ANNUAL REPORT 2023      1131
Page 625
            MAIN                        MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

                         F.   Klasifikasi   atas    instrumen     keuangan                 F.   Classification of financial instruments
                              (lanjutan)

                              Grup mengklasifikasikan liabilitas keuangan                       The Group classifies the financial liabilities
                              dan rekening administratif dalam klasifikasi                      and administrative accounts (off balance
                              tertentu yang mencerminkan sifat dari                             sheet) into certain classes that reflect the
                              informasi        dan         mempertimbangkan                     nature of information and take into account the
                              karakteristik dari instrumen keuangan                             characteristic of those financial instruments.
                              tersebut. Klasifikasi liabilitas keuangan dapat                   The classification of financial liabilites can be
                              dilihat pada tabel di bawah ini:                                  seen in the table below :

                                                 Klasifikasi/Classification                                     Golongan/Class
                                             Liabilitas keuangan yang diukur pada nilai wajar
                                                                                                  Liabilitas derivatif bukan lindung nilai/
                                               melalui laba rugi/
                                                                                                     Derivative payables - non hedging
                                               Financial liabilities measured at fair value
                                                                                                     related
                                               through profit or loss
                                                                                                  Giro/Demand deposits
                                                                                                  Tabungan/Saving deposits
                                                                                                  Deposito berjangka/Time deposits
                                                                                                  Inter-bank call money
                                                                                                  Liabilitas atas efek-efek yang dijual dengan
                                                                                                     janji dibeli kembali/Securities sold under
                                                                                                     agreements to repurchase
                                                                                                  Liabilitas kepada pemegang polis pada
                                                                                                     kontrak unit-link/Liabilities to unit-link
                                                                                                     policyholders
                               Liabilitas akseptasi/Acceptance payables
                                                                                                  Efek-efek yang diterbitkan/Debt securities
                                                                                                    issued
                                                                                                  Pinjaman yang diterima/Fund borrowings
                                                                                                  Pinjaman subordinasi/Subordinated loans
                                                                                                  Setoran jaminan/Guarantee deposits


                                    Klasifikasi/
                                                                                            Golongan/Class
                                   Classification
                                                        Fasilitas kredit yang diberikan yang belum digunakan (committed)/
                               Rekening                    Unused loan facilities (committed)
                               administratif/           Letters of credit yang tidak dapat dibatalkan/Irrevocable letter of credit
                               Administrative           Garansi yang diberikan yang memenuhi definisi kontrak jaminan keuangan/ Bank
                               accounts                    guarantees issued that meet the definition of a financial guarantee contract
                                                        Standby letters of credit




                                                                         65
1132 PT Bank Mandiri (Persero) Tbk
Page 626
 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)
     c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

          G. Saling hapus instrumen keuangan                                  G. Offsetting financial instruments
               Aset keuangan dan liabilitas keuangan saling                        Financial assets and liabilities are offset and
               hapus disajikan dalam laporan posisi                                the net amount presented in the consolidated
               keuangan konsolidasian jika memiliki hak                            statement of financial position when there is a
               yang berkekuatan hukum untuk melakukan                              legally enforceable right to offset the
               saling hapus atas jumlah yang telah diakui                          recognised amounts and an intention to settle
               tersebut dan berniat untuk menyelesaikan                            on a net basis or realised the asset and settle
               secara neto atau untuk merealisasikan aset                          the liability simultaneously. This means that
               dan menyelesaikan liabilitasnya secara                              the right to offset:
               simultan. Hak yang berkekuatan hukum
               berarti:
               a.   tidak terdapat kontinjensi di masa yang                        a.   must not be contingent on a future event,
                    akan datang, dan                                                    and
               b.   hak yang dapat dipaksakan secara                               b.   must be legally enforceable in all of the
                    hukum pada kondisi-kondisi berikut ini:                             following circumstances:
                    i.   kegiatan bisnis normal;                                        i.   the normal course of business;
                    ii. kondisi kegagalan usaha; dan                                    ii. the event of default; and
                    iii. kondisi gagal bayar atau bangkrut.                             iii. the    event   of     insolvency  or
                                                                                             bankruptcy.
          H.   Cadangan kerugian penurunan nilai aset                         H.   Allowance for        impairment     losses    of
               keuangan                                                            financial assets
               Penerapan PSAK 71 “Instrumen Keuangan”                              The implementation of SFAS 71 "Financial
               telah   mengubah        metode  perhitungan                         Instruments" has changed the method of
               kerugian penurunan nilai dari pendekatan                            calculating impairment losses from the
               kerugian yang telah terjadi (incurred loss)                         incurred loss approach in SFAS 55 "Financial
               dalam PSAK 55 “Instrumen Keuangan:                                  Instruments: Recognition and Measurement"
               Pengakuan dan Pengukuran” dengan                                    with the expected credit loss approach.
               pendekatan kerugian kredit ekspektasian
               (expected credit loss).
               1.   Ruang lingkup penurunan nilai                                  1.   Scope of impairment
                    a)   Aset keuangan dalam klasifikasi                                a)   Financial assets in other than those
                         selain yang diukur pada nilai wajar                                 measured at fair value through profit
                         melalui laba rugi                                                   or loss
                         1) Penurunan nilai atas aset                                        1) Impairment of financial assets at
                              keuangan        pada      biaya                                     amortised cost is recognised as
                              perolehan diamortisasi diakui                                       a deduction from the asset's
                              sebagai pengurang dari nilai                                        carrying    amount      in  the
                              tercatat aset di dalam laporan                                      consolidated    statement     of
                              posisi keuangan konsolidasian,                                      financial     position,     and
                              dan diakui di dalam laporan                                         recognised in the consolidated
                              laba     rugi     konsolidasian                                     income statement as "Allowance
                              sebagai "Beban Pembentukan                                          for Impairment Losses".
                              Cadangan               Kerugian
                              Penurunan Nilai".
                         2) Penurunan nilai atas aset                                        2) Impairment of financial assets
                              keuangan (di luar instrumen                                        (excluding equity instruments)
                              ekuitas) yang diukur pada nilai                                    measured at fair value through
                              wajar    melalui    penghasilan                                    other comprehensive income is
                              komprehensif      lain    diakui                                   recognised as an addition to
                              sebagai      penambah       dari                                   other comprehensive income in
                              penghasilan       komprehensif                                     the consolidated statement of
                              lainnya di dalam laporan posisi                                    financial position (not reducing
                              keuangan konsolidasian (tidak                                      the carrying amount of financial
                              mengurangi jumlah tercatat                                         assets     in     the    financial
                              aset keuangan dalam laporan                                        statements) as "Unrealised Gain
                              keuangan)               sebagai                                    or Loss " and recognised in the
                              "Keuntungan/Kerugian       yang                                    consolidated income statement
                              Belum Direalisasikan", dan                                         as "Allowance for Impairment
                              diakui di dalam laporan laba                                       Losses".
                              rugi konsolidasian sebagai
                              "Beban            Pembentukan
                              Cadangan kerugian penurunan
                              nilai".



                                                          66
                                                                                                            ANNUAL REPORT 2023        1133
Page 627
            MAIN                         MANAGEMENT                          COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                             PROFILE                           ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                           (continued)

                    c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                         H.   Allowance for impairment            losses    of
                              keuangan (lanjutan)                                                 financial assets (continued)

                              1.   Ruang lingkup penurunan nilai                             1.   Scope of Impairment (continued)
                                   (lanjutan)
                                   b) Komitmen           Pinjaman       atau                           b)   Loan Commitments or Committed
                                        Kelonggaran Tarik yang Sifatnya                                     Unused Loan Facilities
                                        Tidak        Dapat       Dibatalkan
                                        (Committed)
                                        1) Penurunan nilai atas komitmen                                    1) Impairment of loan commitments
                                             pinjaman diakui sebagai provisi                                    is recognized as provision for the
                                             pada komponen liabilitas Bank                                      Bank's liability component which
                                             yang dicatat secara terpisah                                       is recorded separately from the
                                             dari aset pinjaman yang terkait                                    related    loan        assets   as
                                             sebagai "Estimasi kerugian                                         "Estimated          losses      on
                                             atas komitmen dan kontijensi",                                     commitments                    and
                                             kecuali Grup tidak dapat                                           contingencies", unless the Group
                                             mengidentifikasi        secara                                     cannot identify it separately.
                                             terpisah.
                                        2) Dalam        kondisi    tersebut,                                2) In that case, the impairment of
                                             penurunan nilai atas komitmen                                      loan commitments and loan
                                             pinjaman dan aset pinjaman                                         assets is recognised together as
                                             diakui     bersama     sebagai                                     a deduction from the carrying
                                             pengurang dari nilai tercatat                                      amount of the assets in the
                                             aset di dalam laporan posisi                                       consolidated       statement  of
                                             keuangan konsolidasian.                                            financial position.

                                   c)   Kontrak Jaminan Keuangan                                       c)   Financial Guarantee Contract
                                        Penurunan nilai atas kontrak                                        Impairment of financial guarantee
                                        jaminan keuangan diakui sebagai                                     contracts is recognised as a provision
                                        provisi pada komponen liabilitas                                    under the Bank's liability component
                                        Bank sebagai "Estimasi kerugian                                     as     "Estimated       losses      on
                                        atas komitmen dan kontijensi".                                      commitments and contingencies".

                              2.   Evaluasi penurunan nilai              yang                     2.   Periodic evaluation on impairment of
                                   dilakukan secara periodik                                           financial assets

                                   Pada setiap tanggal laporan posisi                                  The Group assesses at each reporting
                                   keuangan       konsolidasian,       Grup                            date whether there is a significant
                                   mengevaluasi       apakah       terdapat                            increase in credit risk or objective
                                   peningkatan risiko kredit yang signifikan                           evidence that a financial asset or group of
                                   atau terdapat bukti objektif terjadinya                             financial assets is impaired.
                                   penurunan nilai.

                                   Kriteria yang digunakan oleh Grup untuk                             The criteria that the Group uses to
                                   menentukan        bukti     objektif    dari                        determine that there is objective evidence
                                   penurunan nilai adalah sebagai berikut:                             of impairment loss include:
                                   a) Kesulitan keuangan signifikan yang                               a) Significant financial difficulty of the
                                        dialami     penerbit    atau     pihak                              issuer or obligor;
                                        peminjam;
                                   b) Pelanggaran          kontrak,     seperti                        b)   A breach of contract, such as a
                                        peristiwa gagal bayar atau peristiwa                                default or delinquency in interest or
                                        tunggakan bunga atau pokok;                                         principal payments;
                                   c) Pihak pemberi pinjaman, untuk                                    c)   The lender, for economic or legal
                                        alasan ekonomik atau kontraktual                                    reasons relating to the borrower’s
                                        sehubungan        dengan     kesulitan                              financial difficulty, granting to the
                                        keuangan yang dialami pihak                                         borrower a concession that the
                                        peminjam,      telah     memberikan                                 lender would not otherwise consider
                                        konsesi pada pihak peminjam yang                                    if the borrower is not having that
                                        tidak mungkin diberikan jika pihak                                  financial difficulty;
                                        peminjam        tidak       mengalami
                                        kesulitan tersebut;




                                                                           67
1134 PT Bank Mandiri (Persero) Tbk
Page 628
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment             losses    of
               keuangan (lanjutan)                                                  financial assets (continued)

               2.   Evaluasi penurunan nilai yang                                   2.   Periodic evaluation on impairment of
                    dilakukan secara periodik (lanjutan)                                 financial assets (continued)

                    Kriteria yang digunakan oleh Grup untuk                              The criteria that the Group uses to
                    menentukan       bukti   objektif  dari                              determine that there is objective evidence
                    penurunan nilai adalah sebagai berikut                               of impairment loss include (continued):
                    (lanjutan):

                    d)   Terjadi kemungkinan bahwa pihak                                 d)   There is a probability that the
                         peminjam akan dinyatakan pailit                                      borrower will enter bankruptcy or
                         atau     melakukan      reorganisasi                                 other financial reorganisation;
                         keuangan lainnya;
                    e)   Hilangnya pasar aktif dari aset                                 e)   The disappearance of an active
                         keuangan         akibat    kesulitan                                 market for that financial asset
                         keuangan; atau                                                       because of financial difficulties; or
                    f)   Pembelian atau penerbitan aset                                  f)   Purchase or issuance of financial
                         keuangan dengan diskon sangat                                        asset at significant discount which
                         besar yang mencerminkan kerugian                                     reflects the credit loss that occurs.
                         kredit yang terjadi.

                    Grup menggunakan kriteria tambahan                                   The Group uses additional criteria to
                    untuk    menentukan   kualitas aset                                  determine the quality of financial
                    instrumen keuangan sesuai dengan                                     instrument assets in accordance with the
                    Peraturan Otoritas Jasa Keuangan                                     Financial Services Authority Regulation
                    (POJK) No. 40/POJK.03/2019 tanggal                                   (POJK) No. 40/POJK.03/2019 dated 19
                    19 Desember 2019 tentang Penilaian                                   December 2019 concerning Asset Quality
                    Kualitas Aset Bank Umum.                                             Assessment for Commercial Banks.

                    Selanjutnya, Grup mengelompokkan                                     Furthermore,      the    Group   classifies
                    aset keuangan berdasarkan hasil                                      financial assets based on the evaluation
                    evaluasi tersebut yang mencerminkan                                  results, which reflect the level of credit
                    tingkat risiko kredit aset keuangan.                                 risk of the financial assets.

                    a)   Stage 1                                                         a)   Stage 1

                         Pada tanggal evaluasi penurunan                                      At the evaluation date of impairment,
                         nilai, risiko kredit atas instrumen                                  credit risk on financial instruments
                         keuangan tidak meningkat secara                                      does not increase significantly since
                         signifikan sejak pengakuan awal                                      initial recognition, which can be
                         yang dapat dibuktikan dengan                                         proven by the occurrence of all of the
                         terjadinya seluruh hal berikut, yaitu:                               following, namely:

                         Untuk Jenis Aset Keuangan Non-                                       For    Types       of    Non-Securities
                         Surat Berharga:                                                      Financial Assets:
                         1) Tidak      terdapat    tunggakan                                  1) There are no arrears of principal
                             pokok dan/atau bunga lebih                                           and/or interest for more than 30
                             dari 30 hari;                                                        days;
                         2) Instrumen keuangan memiliki                                       2) The financial instrument has a
                             kualitas 1 atau 2; dan                                               collectability of 1 or 2; and
                         3) Tidak direstrukturisasi.                                          3) Not restructured.

                         Aset Keuangan Surat Berharga:                                        Securities Financial Assets:
                         1) Memiliki peringkat investasi;                                     1) Having investment grade;
                         2) Tidak    terdapat     tunggakan                                   2) There are no arrears of coupons
                             kupon dan/atau kewajiban lain                                        and/or other similar obligations;
                             yang sejenis; dan                                                    and
                         3) Belum jatuh tempo.                                                3) Not yet due.



                                                           68
                                                                                                              ANNUAL REPORT 2023        1135
Page 629
            MAIN                         MANAGEMENT                       COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                          PROFILE                             ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    c.   Instrumen keuangan (lanjutan)                                c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                      H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                              financial assets (continued)

                              2.   Evaluasi penurunan nilai yang                               2.   Periodic evaluation on impairment of
                                   dilakukan secara periodik (lanjutan)                             financial assets (continued)

                                   a)   Stage 1 (lanjutan)                                          a)   Stage 1 (continued)

                                        Atas hal tersebut, Grup akan                                     For this reason, the Group will
                                        mengukur penyisihan kerugian                                     measure     the      allowance      for
                                        untuk     instrumen    keuangan                                  impairment losses for the financial
                                        tersebut sejumlah kerugian kredit                                instrument at the amount of an
                                        ekspektasian 12 bulan.                                           expected credit loss for 12 months.

                                   b)   Stage 2                                                     b)   Stage 2

                                        Pada tanggal evaluasi, risiko kredit                             At the evaluation date, credit risk on
                                        atas instrumen keuangan telah                                    financial instruments has increased
                                        meningkat secara signifikan sejak                                significantly since initial recognition
                                        pengakuan awal yang dapat                                        which can be proven.
                                        dibuktikan.

                                        Untuk Jenis Aset Keuangan Non-                                   For     Types     of   Non-Securities
                                        Surat Berharga, dengan terjadi                                   Financial Assets, if one of the
                                        salah satu dari hal berikut:                                     following occurs:
                                        1) Terdapat tunggakan pokok                                      1) There are arrears of principal
                                            dan/atau bunga yang telah                                         and/or interest between 30 days
                                            melebihi 30 hari sampai                                           to 90 days;
                                            dengan 90 hari;
                                        2) Instrumen keuangan memiliki                                   2) The financial instrument has a
                                            kualitas 2; atau                                                collectability of 2; or
                                        3) Terjadi restrukturisasi atas aset                             3) There was a restructuring of
                                            keuangan         yang      tidak                                financial assets that did not
                                            menyebabkan pengakuan aset                                      result in the recognition of assets
                                            yang     berasal     dari   aset                                originating       from    impaired
                                            keuangan yang memburuk,                                         financial assets, which before
                                            dimana sebelum restrukturisasi                                  restructuring the assets were at
                                            aset berada pada stage 1                                        stage 1 or 2.
                                            atau 2.

                                        Untuk Jenis Aset Keuangan Surat                                  For Types of Securities Financial
                                        Berharga:                                                        Assets:
                                        1) Memiliki     peringkat   paling                               1) Has a rating of at least 1 (one)
                                            rendah 1 (satu) tingkat di                                       level below investment grade;
                                            bawah peringkat investasi;
                                        2) Tidak     terdapat   tunggakan                                2)    There are no arrears of coupons
                                            kupon dan/atau kewajiban lain                                      and/or other similar obligations;
                                            yang sejenis; dan                                                  and
                                        3) Belum jatuh tempo.                                            3)    Not yet due.

                                        Grup akan mengukur penyisihan                                    At this stage, the Group will measure
                                        kerugian untuk instrumen keuangan                                the allowance for impairment losses
                                        pada stage ini sejumlah kerugian                                 for the financial instrument at the
                                        kredit   ekspektasian   sepanjang                                amount of the expected credit losses
                                        umurnya.                                                         over its lifetime.




                                                                        69
1136 PT Bank Mandiri (Persero) Tbk
Page 630
 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                Financial
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                           2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                             (continued)

     c.   Instrumen keuangan (lanjutan)                                     c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                           H.   Allowance for impairment              losses     of
               keuangan (lanjutan)                                                   financial assets (continued)

               2.   Evaluasi penurunan nilai yang                                    2.   Periodic evaluation on impairment of
                    dilakukan secara periodik (lanjutan)                                  financial assets (continued)

                    c)   Stage 3 (Default)                                                c)   Stage 3 (Default)

                         Pada tanggal evaluasi, terdapat                                       At the evaluation date, there is
                         bukti objektif bahwa aset keuangan                                    objective evidence that the financial
                         mengalami penurunan nilai yang                                        asset is impaired which can be
                         dapat dibuktikan.                                                     proven.

                         Untuk Jenis Aset Keuangan Non-                                        For     Types       of    Non-Securities
                         Surat Berharga, dengan terjadinya                                     Financial Assets, if one of the
                         salah satu dari hal berikut, yaitu:                                   following occurs:
                         1) Terdapat tunggakan pokok                                           1) There are arrears principal
                             dan/atau bunga lebih dari 90                                           and/or interest of more than 90
                             hari;                                                                  days;
                         2) Instrumen keuangan memiliki                                        2) The financial instrument has a
                             kualitas 3, 4, atau 5; atau                                            collectability of 3, 4, or 5; or
                         3) Terjadi restrukturisasi atas aset                                  3) There was a restructuring of
                             keuangan          yang        tidak                                    financial assets that did not
                             menyebabkan pengakuan aset                                             result in the recognition of assets
                             yang     berasal     dari      aset                                    originating       from      impaired
                             keuangan yang memburuk,                                                financial assets, where prior to
                             dimana sebelum restrukturisasi                                         restructuring the assets were at
                             aset    telah     berada      pada                                     stage 3.
                             stage 3.

                         Untuk Jenis Aset Keuangan Surat                                       For Types of Securities Financial
                         Berharga:                                                             Assets:
                         1) Memiliki peringkat investasi,                                      1) Has an investment grade, has
                             terdapat tunggakan kupon                                              arrears of coupons and/or other
                             dan/atau kewajiban lain yang                                          similar obligations, and has not
                             sejenis, dan belum jatuh                                              yet matured; or
                             tempo; atau
                         2) Kriteria   lain   yang     tidak                                   2)   Other criteria that do not meet
                             memenuhi kriteria pada stage 1                                         the criteria on stage 1 and 2 for
                             dan 2 untuk jenis aset                                                 types of securities financial
                             keuangan surat berharga.                                               assets.

                         Grup akan mengukur penyisihan                                         The Group will measure the
                         kerugian untuk instrumen keuangan                                     allowance for losses for financial
                         pada stage ini sejumlah kerugian                                      instruments at this stage at the
                         kredit   ekspektasian   sepanjang                                     amount of the expected credit losses
                         umurnya.                                                              over its lifetime.

                         Khusus untuk aset keuangan yang                                       Specifically for financial assets which
                         penurunan    nilainya   dievaluasi                                    impairment value is evaluated
                         secara individual, Grup dapat                                         individually, the Group may designate
                         menetapkan      aset    keuangan                                      these financial assets in the stage 3
                         tersebut pada kelompok stage 3                                        group (from the previous stage 2
                         (dari sebelumnya ada di kelompok                                      group), even though those financial
                         stage 2), meskipun aset keuangan                                      assets do not meet the criteria for
                         dimaksud belum memenuhi kriteria                                      stage 3 group.
                         kelompok stage 3.



                                                            70
                                                                                                                ANNUAL REPORT 2023         1137
Page 631
            MAIN                         MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                           PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                       H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                               financial assets (continued)

                              2.   Evaluasi penurunan nilai yang                                2.   Periodic evaluation on impairment of
                                   dilakukan secara periodik (lanjutan)                              financial assets (continued)

                                   d)   Aset yang Dibeli atau Berasal dari                           d)   Purchased or Originated Credit-
                                        Aset Keuangan yang Memburuk                                       Impaired Financial Asset (“POCI”)
                                        (Purchased or Originated Credit-
                                        Impaired Financial Asset (“POCI”))

                                        1) Kriteria aset yang dibeli sebagai                              1) The criteria for assets purchased
                                           aset keuangan memburuk                                            as an impaired financial assets

                                            Aset keuangan yang dibeli                                         A purchased financial asset is
                                            dikelompokkan sebagai aset                                        classified    as    an    impaired
                                            keuangan      memburuk     jika                                   financial asset if it meets the
                                            memenuhi kriteria berikut:                                        following criteria:
                                            a. Hilangnya pasar aktif dari                                     a. Loss of active market of
                                                 aset keuangan; atau                                               financial assets; or
                                            b. Pembelian aset keuangan                                        b. Purchase of financial assets
                                                 dengan diskon sangat                                              at a very large discount or
                                                 besar atau jauh di bawah                                          significant below par.
                                                 harga par.

                                        2) Kriteria dan pengukuran aset                                   2) Criteria for assets originating
                                           yang     berasal  dari  aset                                      from impaired financial assets
                                           keuangan memburuk
                                                                                                              a.   Financial assets that are
                                            a.   Aset     keuangan       yang                                      modified/renegotiated
                                                 dimodifikasi/renegosiasi                                          resulting in derecognition of
                                                 dan           menghasilkan                                        financial     assets       are
                                                 penghentian     pengakuan                                         classified     as       assets
                                                 aset              keuangan                                        originating from impaired
                                                 dikelompokkan        sebagai                                      financial assets if they meet
                                                 aset yang berasal dari aset                                       the following criteria:
                                                 keuangan memburuk jika
                                                 memenuhi kriteria berikut:
                                                 1. Waive atas tunggakan                                           1.   Waive     on    interest
                                                      bunga         termasuk                                            arrears       including
                                                      dengan     Tunggakan                                              Scheduled       Interest
                                                      Bunga              yang                                           Arrears and Deferred
                                                      Dijadwalkan (TBYD)                                                Interest of 100% (one
                                                      dan    Bunga       yang                                           hundred percent); or
                                                      Ditangguhkan (BYDT)
                                                      sebesar           100%
                                                      (seratus persen); atau
                                                 2. Kredit        dikonversi                                       2.   Loans are converted
                                                      menjadi    penyertaan                                             into temporary equity
                                                      modal sementara.                                                  participation (temporary
                                                                                                                        investment in shares).




                                                                         71
1138 PT Bank Mandiri (Persero) Tbk
Page 632
 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                               Financial
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                               Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                           2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                             (continued)

     c.   Instrumen keuangan (lanjutan)                                     c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                           H.   Allowance for impairment            losses    of
               keuangan (lanjutan)                                                   financial assets (continued)

               2.   Evaluasi penurunan nilai yang                                    2.   Periodic evaluation on impairment of
                    dilakukan secara periodik (lanjutan)                                  financial assets (continued)

                    d)   Aset yang Dibeli atau Berasal dari                               d)   Purchased or Originated Credit-
                         Aset Keuangan yang Memburuk                                           Impaired Financial Asset (“POCI”)
                         (Purchased or Originated Credit-                                      (continued)
                         Impaired Financial Asset (“POCI”))
                         (lanjutan)

                         2)   Kriteria dan pengukuran aset                                     2) Criteria for assets originating
                              yang     berasal  dari  aset                                        from impaired financial assets
                              keuangan memburuk (lanjutan)                                        (continued)

                              b.   Pada tanggal pelaporan,                                         b.   At the reporting date, the
                                   Grup hanya mengakui                                                  Group recognizes only the
                                   perubahan kumulatif atas                                             cumulative changes in the
                                   kerugian               kredit                                        lifetime expected credit
                                   ekspektasian     sepanjang                                           losses since the initial
                                   umurnya sejak pengakuan                                              recognition of the financial
                                   awal     aset     keuangan                                           asset as an allowance for
                                   sebagai          penyisihan                                          impairment      losses     on
                                   kerugian      atas       aset                                        financial assets purchased
                                   keuangan yang dibeli atau                                            or      originating     from
                                   yang berasal dari aset                                               impairment financial assets.
                                   keuangan memburuk.
                              c.   Pada      setiap    tanggal                                     c.   At each reporting date, the
                                   pelaporan, Grup mengakui                                             Group recognizes in profit
                                   dalam laba rugi jumlah                                               or loss the amount of
                                   perubahan kerugian kredit                                            changes      in     lifetime
                                   ekspektasian     sepanjang                                           expected credit losses as
                                   umurnya             sebagai                                          an impairment gain or loss.
                                   keuntungan atau kerugian
                                   penurunan nilai.
                              d.   Jika     aset     keuangan                                      d.   If the financial assets are
                                   terbukti berdasarkan fakta                                           proven based on facts or
                                   atau     informasi      yang                                         relevant information that the
                                   relevan      bahwa       aset                                        financial     assets      are
                                   keuangan membaik, maka                                               improving, the Group will
                                   Grup akan mencatat di                                                recognize in the income
                                   laporan laba rugi sebagai                                            statement as a deduction for
                                   pengurang            “Beban                                          “Allowance for Impairment
                                   Pembentukan Cadangan                                                 Losses”.
                                   Kerugian Penurunan Nilai”.
                              e.   Jika kondisi aset keuangan                                      e.   If the condition of the
                                   terbukti memburuk, maka                                              financial asset are proven to
                                   Grup akan mencatat di                                                be impaired, the Group will
                                   laporan laba rugi sebagai                                            recognize it in the income
                                   penambah             “Beban                                          statement as an addition to
                                   Pembentukan Cadangan                                                 “Allowance for Impairment
                                   Kerugian Penurunan Nilai”.                                           Losses”.

                         Grup menggunakan kriteria untuk                                       The Group uses criteria to determine
                         menentukan       kategori    aset                                     the category of financial assets that
                         keuangan     yang      mengalami                                      have impaired based on the grouping
                         penurunan    nilai    berdasarkan                                     of the risk levels of financial assets
                         pengelompokan tingkat risiko aset                                     above. Financial assets in stage 3
                         keuangan di atas. Aset keuangan                                       group and POCI are financial assets
                         pada kelompok stage 3 dan POCI                                        that have impaired.
                         merupakan aset keuangan yang
                         mengalami penurunan nilai.



                                                            72
                                                                                                              ANNUAL REPORT 2023        1139
Page 633
            MAIN                         MANAGEMENT                          COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                             PROFILE                           ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                           (continued)

                    c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                         H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                                 financial assets (continued)

                              3.   Metode penurunan nilai                                         3.   Impairment method

                                   Grup melakukan evaluasi penurunan                                   The Group evaluates the impairment
                                   nilai dengan metode sebagai berikut:                                using the following methods:

                                   a)   Metode Individual                                              a)   Individual Method

                                        1) Kriteria Individual                                              1) Individual Criteria

                                            Grup mengevaluasi penurunan                                         The Group evaluates impairment
                                            nilai secara individual apabila                                     individually when the Group has
                                            Grup memiliki informasi yang                                        reasonable and supportable
                                            wajar dan terdukung untuk                                           information to measure the
                                            mengukur        kerugian     kredit                                 lifetime expected credit losses
                                            ekspektasian           sepanjang                                    on an individual instrument and
                                            umurnya        pada     instrumen                                   the financial assets have the
                                            secara individual dan aset                                          following criteria:
                                            keuangan       memiliki    kriteria
                                            sebagai berikut:
                                            a. Aset keuangan per debitur                                        a.   Financial assets per debtor
                                                 memiliki nilai outstanding                                          with        a     cumulative
                                                 kumulatif      lebih      dari                                      outstanding amount of more
                                                 Rp25.000 (dua puluh lima                                            than Rp25,000 (twenty five
                                                 miliar Rupiah);                                                     billion Rupiah);
                                            b. Kredit segmen Corporate,                                         b.   Loans for the Corporate,
                                                 Kelembagaan,        Financial                                       Institutional,      Financial
                                                 Institutions, Commercial,                                           Institutions,    Commercial,
                                                 dan SME Banking; dan                                                and        SME       Banking
                                                                                                                     segments; and
                                            c.   Aset keuangan termasuk                                         c.   Financial assets fall into the
                                                 dalam kategori stage 2                                              stage 2 category as a result
                                                 akibat dari restrukturisasi,                                        of a restructuring, stage 3,
                                                 stage 3, atau POCI.                                                 or POCI.

                                            Grup juga dapat menetapkan                                          The Group may also designate
                                            aset keuangan untuk dievaluasi                                      financial assets to be evaluated
                                            secara individual meskipun                                          individually even though the
                                            aset    keuangan      dimaksud                                      financial assets have not yet
                                            belum memiliki kriteria untuk                                       meet criteria for individual
                                            dievaluasi secara individual.                                       evaluation.

                                        2) Jika aset keuangan terdapat                                      2) If a financial asset has objective
                                           bukti objektif penurunan nilai                                       evidence of impairment from a
                                           dari aset keuangan yang                                              financial asset that is evaluated
                                           dievaluasi secara individual                                         individually but there is no
                                           namun tidak terdapat kerugian                                        impairment loss, the financial
                                           penurunan nilai, maka aset                                           asset is still classified as a
                                           keuangan        tersebut      tetap                                  financial asset that will be
                                           dimasukkan          ke      dalam                                    assessed       for     impairment
                                           klasifikasi aset keuangan yang                                       individually. However, the Group
                                           akan dievaluasi penurunan                                            establishes      allowance     for
                                           nilainya     secara     individual.                                  impairment losses on these
                                           Namun,       Grup      membentuk                                     financial assets based on the
                                           cadangan kerugian penurunan                                          probability of default resulting
                                           nilai atas aset keuangan                                             from a collective evaluation of
                                           tersebut              berdasarkan                                    loans impairment.
                                           probability of default yang
                                           dihasilkan       dari     evaluasi
                                           penurunan nilai kredit secara
                                           kolektif.



                                                                           73
1140 PT Bank Mandiri (Persero) Tbk
Page 634
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment            losses    of
               keuangan (lanjutan)                                                  financial assets (continued)

               3.   Metode penurunan nilai (lanjutan)                               3.   Impairment method (continued)

                    Grup melakukan evaluasi penurunan                                    The Group evaluates the impairment
                    nilai dengan metode sebagai berikut                                  using the following methods (continued):
                    (lanjutan):

                    a)   Metode Individual (lanjutan)                                    a)   Individual Method (continued)

                         3) Evaluasi Penurunan Nilai                                          3) Impairment Evaluation

                             Evaluasi      penurunan      nilai                                   Individual impairment evaluation
                             secara individual didasarkan                                         is based on the concept of an
                             pada konsep estimasi jumlah                                          estimated weighted probability of
                             probabilitas          tertimbang                                     loss of financial assets. This
                             kerugian      aset    keuangan.                                      concept uses the weighting of
                             Konsep tersebut menggunakan                                          each of the 3 (three) scenarios,
                             pembobotan       masing-masing                                       which     are    the   optimistic
                             dari 3 (tiga) skenario yaitu                                         scenario, the normal scenario,
                             skenario     optimis,   skenario                                     and the pessimistic scenario.
                             normal, dan skenario pesimis.

                             1.   Optimis                                                         1.   Optimistic

                                  Skenario dengan asumsi                                               A     scenario    with    the
                                  terdapat kenaikan atau                                               assumption that there is an
                                  ekspansi               dalam                                         increase or expansion in the
                                  perekonomian            yang                                         economy which results in
                                  berakibat               pada                                         the strengthening of variable
                                  menguatnya nilai variabel                                            values such as increased
                                  seperti        pertumbuhan                                           economic       growth      or
                                  ekonomi meningkat atau                                               exchange rate appreciation.
                                  apresiasi nilai tukar.

                             2.   Normal                                                          2.   Normal

                                  Skenario yang memiliki                                               The scenario that has the
                                  peluang terbesar untuk                                               greatest chance of occurring
                                  terjadi        dibandingkan                                          compared to the other
                                  2 (dua) skenario lainnya.                                            2 (two) scenarios. The
                                  Nilai    variabel     dalam                                          variable   value    in   the
                                  skenario baseline adalah                                             baseline scenario is the
                                  hasil proyeksi dengan                                                projection result assuming
                                  asumsi           pergerakan                                          economic         movements
                                  ekonomi tanpa adanya                                                 without any extraordinary
                                  peristiwa     luar    biasa,                                         events, shocks or economic
                                  guncangan atau gejolak                                               turmoil.
                                  ekonomi.

                             3.   Pesimis                                                         3.   Pessimistic

                                  Skenario dengan asumsi                                               Scenarios      with      the
                                  terdapat pelemahan atau                                              assumption that there is a
                                  kontraksi            dalam                                           weakening or contraction in
                                  perekonomian          yang                                           the economy that results in
                                  berakibat      melemahnya                                            weakening     of    variable
                                  nilai    variabel   seperti                                          values such as a decrease
                                  penurunan pertumbuhan                                                in economic growth or
                                  ekonomi atau depresiasi                                              depreciation     of      the
                                  nilai tukar.                                                         exchange rate.




                                                           74
                                                                                                             ANNUAL REPORT 2023        1141
Page 635
            MAIN                        MANAGEMENT                          COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                           ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)

               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                           (continued)
                    c. Instrumen keuangan (lanjutan)                                     c. Financial instruments (continued)
                         H. Cadangan kerugian penurunan nilai aset                           H. Allowance for impairment losses of
                              keuangan (lanjutan)                                                 financial assets (continued)
                              3. Metode penurunan nilai (lanjutan)                                3. Impairment method (continued)
                                  Grup melakukan evaluasi penurunan                                   The Group evaluates the impairment
                                  nilai dengan metode sebagai berikut                                 using the following methods (continued):
                                  (lanjutan):
                                  a) Metode Individual (lanjutan)                                     a)   Individual Method (continued)
                                       3) Evaluasi       Penurunan     Nilai                               3) Impairment              Evaluation
                                            (lanjutan)                                                          (continued)
                                            Setiap skenario menghasilkan                                        Each scenario provides a
                                            nilai kini arus kas yang                                            discounted present value of cash
                                            didiskontokan, di mana arus                                         flows, where the cash flows are
                                            kas tersebut didasarkan pada                                        based      on    all    available
                                            seluruh informasi yang tersedia                                     information with experienced
                                            dengan experienced credit                                           credit judgment and reflect all
                                            judgement serta mencerminkan                                        information that takes into
                                            seluruh      informasi    yang                                      account various factors such as:
                                            memperhatikan berbagai faktor
                                            seperti:
                                            1. Kekuatan finansial dan                                          1.   Financial strength and the
                                                 kemampuan debitur untuk                                            debtor's         repayment
                                                 membayar           kembali                                         capacity.
                                                 kewajiban      (repayment
                                                 capacity).
                                            2. Jenis dan jumlah agunan.                                        2.   Type     and     amount      of
                                                                                                                    collateral.
                                           3.    Ketersediaan garansi.                                         3.   Availability of warranty.
                                           4.    Prospek usaha nasabah di                                      4.   Customers' future business
                                                 masa datang.                                                       prospects.
                                           5. Probabilitas          penjualan                                  5.   Probability of collateral sale.
                                                 agunan.
                                           6. Kerugian historis.                                               6.   Historical losses.
                                           7. Faktor           makroekonomi                                    7.   Relevant      macroeconomic
                                                 yang relevan.                                                      factors.
                                           Selisih       estimasi       jumlah                                 The difference between the
                                           probabilitas tertimbang dengan                                      weighted probability and the total
                                           jumlah        outstanding      aset                                 outstanding of financial assets
                                           keuangan            mencerminkan                                    reflects the amount of the
                                           jumlah kerugian penurunan                                           individual impairment loss.
                                           nilai individual.
                                           Metode evaluasi penurunan                                           The      individual   impairment
                                           nilai       secara       individual                                 evaluation method is based on
                                           didasarkan pada 2 (dua)                                             2 (two) concepts, which are the
                                           konsep, yaitu estimasi jumlah                                       estimated amount of loss on
                                           kerugian aset keuangan dan                                          financial    assets    and   the
                                           estimasi jumlah yang dapat                                          estimated amount that can be
                                           diperoleh kembali. Metode                                           recovered. The method used are
                                           yang        digunakan        adalah                                 discounted cash flow or fair
                                           discounted cash flow atau                                           value of collateral method. The
                                           metode fair value of collateral.                                    Bank uses the fair value of
                                           Bank menggunakan metode                                             collateral method as future cash
                                           fair value of collateral sebagai                                    flows if it meets one of the
                                           arus kas masa datang apabila                                        following conditions:
                                           memenuhi salah satu kondisi
                                           berikut:
                                           1. Kredit bersifat collateral                                       1.   Loans        is      collateral
                                                 dependent,       yaitu    jika                                     dependent,        if     loans
                                                 pelunasan kredit hanya                                             repayment source only from
                                                 bersumber dari agunan;                                             collateral;
                                           2. Sulit untuk menentukan                                           2.   It is difficult to reliably
                                                 jumlah       dan        waktu                                      determine the amount and
                                                 penerimaan estimasi cash                                           timing of receipt of the
                                                 flow yang berasal dari                                             estimated cash flow from
                                                 pokok     kredit     dan/atau                                      loan      principal    and/or
                                                 bunga      dengan       andal;                                     interest; and/or;
                                                 dan/atau
                                           3. Pengambilalihan agunan                                           3.   Foreclosure of collateral is
                                                 kemungkinan besar terjadi                                          likely to occur and is
                                                 dan didukung dengan                                                supported by legal binding
                                                 aspek legal pengikatan                                             aspects of collateral.
                                                 agunan.



                                                                           75
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 CORPORATE                     ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                 Financial
 GOVERNANCE                    & PRACTICES                          RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                 Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                            2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                              (continued)
     c.   Instrumen keuangan (lanjutan)                                      c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                            H.   Allowance for impairment              losses     of
               keuangan (lanjutan)                                                    financial assets (continued)
               3.   Metode penurunan nilai (lanjutan)                                 3.   Impairment method (continued)
                    Grup melakukan evaluasi penurunan                                      The Group evaluates the impairment
                    nilai dengan metode sebagai berikut                                    using the following methods (continued):
                    (lanjutan):

                    b)   Metode Kolektif                                                   b)   Collective Method
                         1) Kriteria Kolektif                                                   1) Collective Criteria
                              Bank mengevaluasi penurunan                                           The Bank assesses impairment
                              nilai secara kolektif apabila                                         collectively if the financial assets
                              aset      keuangan        memiliki                                    share       the       same       risk
                              kesamaan dalam karakteristik                                          characteristics of the financial
                              risiko aset keuangan dengan                                           assets with the purpose of
                              tujuan     untuk     memfasilitasi                                    facilitating analysis which is
                              analisis yang didesain untuk                                          designed to allows a significant
                              memungkinkan          peningkatan                                     increase in credit risk to be
                              risiko kredit secara signifikan                                       identified in a timely manner.
                              dapat diidentifikasi tepat waktu.                                     The criteria for financial assets
                              Kriteria aset keuangan yang                                           that are evaluated collectively
                              dievaluasi      secara     kolektif                                   are as follows:
                              adalah sebagai berikut:
                              a. Aset keuangan per debitur                                          a.   Financial assets per debtor
                                   merupakan aset keuangan                                               are non-performing financial
                                   non-performing           atau                                         assets or have days past
                                   memiliki days past due >                                              due > 90 days and have a
                                   90 hari dan memiliki nilai                                            cumulative value of ≤
                                   kumulatif      sebesar      ≤                                         Rp25,000 (twenty five billion
                                   Rp25.000 (dua puluh lima                                              rupiah) for the Corporate,
                                   milyar      rupiah)    untuk                                          Institutional,     Financial
                                   Segmen            Corporate,                                          Institutions,  Commercial,
                                   Kelembagaan,        Financial                                         and        SME      Banking
                                   Institutions,    Commercial                                           segments;
                                   dan SME Banking;
                              b. Aset keuangan performing                                           b.   Performing financial assets
                                   atau memiliki days past                                               or having days past due
                                   due ≤ 90 hari dan tidak                                               ≤ 90 days and were not
                                   direstrukturisasi      untuk                                          restructured    for       the
                                   segmen            Corporate,                                          Corporate,     Institutional,
                                   Kelembagaan,        Financial                                         Financial       Institutions,
                                   Institutions,    Commercial                                           Commercial,    and      SME
                                   dan SME Banking; dan                                                  Banking segments; and
                              c. Seluruh kredit segmen                                              c.   All loans in the Micro
                                   Micro       Banking       dan                                         Banking and Consumer
                                   Consumer.                                                             segments.
                              Secara garis besar, seluruh                                           In general, all loan portfolios for
                              portofolio kredit yang evaluasi                                       which impairment evaluation is
                              penurunan      nilainya   tidak                                       not    calculated    using      the
                              dihitung menggunakan metode                                           individual   method      will    be
                              individual, akan dievaluasi                                           evaluated using the collective
                              menggunakan metode kolektif.                                          method.

                         2)   Evaluasi Penurunan Nilai                                          2) Impairment Evaluation
                              Evaluasi    penurunan      nilai                                      The evaluation of collective
                              secara    kolektif  didasarkan                                        impairment is based on the
                              pada konsep Probability of                                            concepts of Probability of Default
                              Default (PD), Loss Given                                              (PD), Loss Given Default (LGD),
                              Default (LGD) dan Exposure at                                         and Exposure at Default (EAD)
                              Default       (EAD)       yang                                        which consider past, current, and
                              mempertimbangkan informasi                                            future information.
                              masa lalu, terkini, dan masa
                              mendatang.


                                                             76
                                                                                                                ANNUAL REPORT 2023          1143
Page 637
            MAIN                         MANAGEMENT                          COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                             PROFILE                           ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                            (continued)
                    c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                                  financial assets (continued)
                              3.   Metode penurunan nilai (lanjutan)                               3.   Impairment method (continued)
                                   Grup melakukan evaluasi penurunan                                    The Group evaluates the impairment
                                   nilai dengan metode sebagai berikut                                  using the following methods (continued):
                                   (lanjutan):
                                   b)   Metode Kolektif (lanjutan)                                      b)   Collective Method (continued)

                                        2)   Evaluasi     Penurunan        Nilai                             2) Impairment               Evaluation
                                             (lanjutan)                                                         (continued)

                                             a.   Probability of Default                                         a.   Probability of Default
                                                  Bank          menggunakan                                           The Bank uses the Basel,
                                                  metode Basel, Vasicek,                                              Vasicek,      Roll     Rate
                                                  Roll Rate Transition Matrix                                         Transition Matrix, and other
                                                  maupun          pendekatan                                          approaches in determining
                                                  lainnya dalam menentukan                                            the PD value of each debtor.
                                                  nilai PD dari setiap debitur.
                                                                                                                      The Basel method is
                                                  Metode Basel dilakukan                                              performed by determining
                                                  dengan          menentukan                                          the relationship between a
                                                  hubungan antara PD suatu                                            debtor's PD with the internal
                                                  debitur              dengan                                         characteristics    of    that
                                                  karakteristik internal dari                                         debtor. The Basel model
                                                  debitur                yang                                         that has been obtained is
                                                  bersangkutan.         Model                                         used as the basis for
                                                  Basel        yang      telah                                        determining the PD value of
                                                  didapatkan        digunakan                                         each debtor.
                                                  sebagai dasar penentuan
                                                  nilai PD dari setiap debitur.
                                                  Metode Vasicek adalah                                               The Vasicek method is a
                                                  metode penentuan PD                                                 method of determining PD
                                                  menggunakan       formula                                           using the asset correlation
                                                  korelasi aset yang telah                                            formula that has been
                                                  ditentukan   oleh   Basel                                           determined by the Basel
                                                  Committee.                                                          Committee.

                                                  Metode       Roll     Rate                                          The Roll Rate Transition
                                                  Transition           Matrix                                         Matrix method uses the
                                                  menggunakan       historical                                        historical transition bucket
                                                  transition   bucket     PD.                                         PD. PD buckets used in
                                                  Bucket       PD       yang                                          historical calculations are as
                                                  digunakan            dalam                                          follows:
                                                  perhitungan       historical
                                                  adalah sebagai berikut:
                                                  1. Bucket 1: Lancar                                                 1.   Bucket 1: Current
                                                  2. Bucket 2: 1-30 days                                              2.   Bucket 2: 1-30 days
                                                       past due (DPD)                                                      past due (DPD)
                                                  3. Bucket 3: 31-60 dpd                                              3.   Bucket 3: 31-60 dpd
                                                  4. Bucket 4: 61-90 dpd                                              4.   Bucket 4: 61-90 dpd
                                                  5. Bucket 5: >90 dpd                                                5.   Bucket 5: >90 dpd
                                                  PD       Forward-Looking                                            PD Forward-Looking Macro
                                                  Macro Adjustment adalah                                             Adjustment is a method
                                                  metode yang digunakan                                               used       to      determine
                                                  untuk menentukan nilai PD                                           the forward    looking   PD
                                                  forward    looking    dari                                          value of both Basel and Roll
                                                  pendekatan baik Basel                                               Rate approaches based on
                                                  maupun       Roll    Rate                                           the historical relationship
                                                  berdasarkan      hubungan                                           between       the      macro
                                                  historis  antara    makro                                           economy and the PD value
                                                  ekonomi dengan nilai PD                                             of the Bank.
                                                  Bank.


                                                                            77
1144 PT Bank Mandiri (Persero) Tbk
Page 638
 CORPORATE                     ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
 GOVERNANCE                    & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment             losses     of
               keuangan (lanjutan)                                                  financial assets (continued)

               3.   Metode penurunan nilai (lanjutan)                               3.   Impairment method (continued)

                    Grup melakukan evaluasi penurunan                                    The Group evaluates the impairment
                    nilai dengan metode sebagai berikut                                  using the following methods (continued):
                    (lanjutan):

                    b)   Metode Kolektif (lanjutan)                                      b)   Collective Method (continued)

                         2)   Evaluasi     Penurunan      Nilai                               2) Impairment               Evaluation
                              (lanjutan)                                                         (continued)

                              b.   Loss Given Default                                             b.   Loss Given Default

                                   Bank          menggunakan                                           The Bank uses Basel and
                                   metode       Basel      dan                                         Historical     methods       in
                                   Historical           dalam                                          determining the LGD value
                                   menentukan nilai LGD dari                                           of    each     debtor.    LGD
                                   setiap              debitur.                                        describes      the     nominal
                                   LGD        menggambarkan                                            percentage of the facility
                                   persentase         nominal                                          that the Bank will not be
                                   fasilitas yang tidak akan                                           able to recover against the
                                   dapat dipulihkan oleh Bank                                          default debtor. Regular LGD
                                   terhadap debitur default.                                           is calculated with formula 1-
                                   LGD       biasa    dihitung                                         Recovery        Rate.      The
                                   dengan       formula      1-                                        recovery rate is calculated
                                   Recovery Rate. Recovery                                             by considering the Time
                                   rate               dihitung                                         Value of Money from the
                                   mempertimbangkan Time                                               recovery of the default
                                   Value of Money dari                                                 obligation. The interest rate
                                   pengembalian kewajiban                                              used to calculate the Time
                                   yang telah default. Tingkat                                         Value of Money of Recovery
                                   suku       bunga      yang                                          is the Effective Interest Rate
                                   digunakan             untuk                                         (EIR).
                                   menghitung Time Value of
                                   Money      dari   Recovery
                                   adalah Effective Interest
                                   Rate (EIR).

                                   Metode Basel dilakukan                                              The Basel method is carried
                                   dengan          menentukan                                          out by determining the
                                   hubungan antara LGD                                                 relationship  between     a
                                   suatu    debitur     dengan                                         debtor's LGD and the
                                   karakteristik internal dari                                         internal characteristics of
                                   debitur                yang                                         the debtor concerned. The
                                   bersangkutan.         Model                                         Basel model that has been
                                   Basel        yang      telah                                        obtained is used as the
                                   didapatkan        digunakan                                         basis     for  determining
                                   sebagai dasar penentuan                                             the LGD value of each
                                   nilai LGD dari setiap                                               debtor.
                                   debitur.

                                   Metode          Historical                                          Historical method is done by
                                   dilakukan         dengan                                            calculating the average
                                   menghitung rata-rata nilai                                          value of LGD in the long
                                   LGD dalam periode jangka                                            term observation period in
                                   panjang pada segmen                                                 the respective segment.
                                   yang dimaksud.




                                                           78
                                                                                                              ANNUAL REPORT 2023         1145
Page 639
            MAIN                         MANAGEMENT                          COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                             PROFILE                          ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                           (continued)
                    c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                         H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                                 financial assets (continued)
                              3.   Metode penurunan nilai (lanjutan)                              3.   Impairment method (continued)
                                   Grup melakukan evaluasi penurunan                                   The Group evaluates the impairment
                                   nilai dengan metode sebagai berikut                                 using the following methods (continued):
                                   (lanjutan):
                                   b)   Metode Kolektif (lanjutan)                                     b)   Collective Method (continued)

                                        2)   Evaluasi     Penurunan       Nilai                             2) Impairment              Evaluation
                                             (lanjutan)                                                        (continued)
                                             b.   Loss       Given      Default                                 b.   Loss      Given        Default
                                                  (lanjutan)                                                         (continued)

                                                  Forward-Looking     Macro                                          Forward-Looking       Macro
                                                  Adjustment pada LGD                                                Adjustment in LGD is a
                                                  adalah     metode    yang                                          method used to determine
                                                  digunakan            untuk                                         the forward looking LGD
                                                  menentukan nilai LGD                                               value based on the historical
                                                  forward            looking                                         relationship       between
                                                  berdasarkan     hubungan                                           macroeconomics and the
                                                  historis            antara                                         Bank's LGD value. If there is
                                                  makroekonomi       dengan                                          no relationship between
                                                  nilai LGD Bank. Jika tidak                                         macroeconomics and the
                                                  didapatkan      hubungan                                           Bank's LGD value, the Bank
                                                  antara      makroekonomi                                           may not use Forward-
                                                  dengan nilai LGD Bank,                                             Looking in determining the
                                                  maka Bank dapat tidak                                              LGD value.
                                                  menggunakan      Forward-
                                                  Looking dalam penentuan
                                                  nilai LGD.
                                             c.   Exposure at Default                                           c.   Exposure at Default
                                                  Dalam menentukan nilai                                             In determining the EAD
                                                  EAD dari setiap debitur,                                           value of each debtor, the
                                                  Bank         menggunakan                                           Bank uses the Basel,
                                                  metode              Basel,                                         Prepayment     Rate,   and
                                                  Prepayment Rate dan                                                Expected Lifetime method.
                                                  Expected Lifetime. EAD                                             EAD describes the exposure
                                                  menggambarkan exposure                                             that will be borne by the
                                                  yang akan ditanggung                                               Bank if there is a debtor
                                                  Bank jika terdapat debitur                                         become defaults.
                                                  yang default.
                                                  Metode     Basel     dalam                                         The Basel method in
                                                  perhitungan           EAD                                          calculating     EAD      is
                                                  dilakukan           dengan                                         performed by determining
                                                  menentukan       hubungan                                          the relationship between a
                                                  antara EAD suatu debitur                                           debtor's EAD and the
                                                  dengan         karakteristik                                       internal characteristics of
                                                  internal dari debitur yang                                         the respective debtor.
                                                  bersangkutan.
                                                  Metode Prepayment Rate                                             The       Prepayment    Rate
                                                  ialah     metode     yang                                          method is a method that
                                                  mempelajari      behaviour                                         studies the behavior of the
                                                  dari tingkat pembayaran                                            debtor's payment rate that is
                                                  debitur yang lebih besar                                           bigger than the scheduled
                                                  dibandingkan       dengan                                          facility payment amount.
                                                  besaran        pembayaran
                                                  fasilitas    yang    telah
                                                  dijadwalkan.




                                                                           79
1146 PT Bank Mandiri (Persero) Tbk
Page 640
 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                               Financial
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                               Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                           2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                             (continued)

     c.   Instrumen keuangan (lanjutan)                                     c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                           H.   Allowance for impairment               losses   of
               keuangan (lanjutan)                                                   financial assets (continued)

               3.   Metode penurunan nilai (lanjutan)                                3.   Impairment method (continued)

                    Grup melakukan evaluasi penurunan                                     The Group evaluates the impairment
                    nilai dengan metode sebagai berikut                                   using the following methods (continued):
                    (lanjutan):

                    b)   Metode Kolektif (lanjutan)                                       b)   Collective Method (continued)

                         2)   Evaluasi     Penurunan       Nilai                               2) Impairment                Evaluation
                              (lanjutan)                                                          (continued)

                              c.   Exposure      at     Default                                    c.   Exposure       at      Default
                                   (lanjutan)                                                           (continued)

                                   Metode Expected Lifetime                                             The     Expected     Lifetime
                                   ialah       metode      yang                                         method is a method that
                                   mempelajari        behaviour                                         studies the behavior of the
                                   dari tingkat penyelesaian                                            debtor's level of settlement
                                   fasilitas (lunas atau hapus                                          (paid off or write off)
                                   buku)                 debitur                                        compared to the facility
                                   dibandingkan         dengan                                          settlement schedule.
                                   jadwal         penyelesaian
                                   fasilitas.

                              d.   Expected Credit Loss                                            d.   Expected Credit Loss

                                   Secara umum formula                                                  In general, the formula for
                                   untuk menghitung ECL                                                 calculating collective ECL is
                                   secara kolektif adalah                                               the      multiplication    of
                                   pengkalian            antara                                         Probability of Default, Loss
                                   Probability of Default, Loss                                         Given       Default,     and
                                   Given      Default,      dan                                         Exposure at Default.
                                   Exposure at Default.

                                   Dalam          menghitung                                            In calculating the amount of
                                   besarnya         cadangan                                            collective impairment, the
                                   kerugian penurunan nilai                                             Bank uses the loan carrying
                                   kolektif,             Bank                                           value which the impairment
                                   menggunakan nilai saldo                                              value        is     assessed
                                   rekening kredit dari yang                                            collectively.
                                   penurunan          nilainya
                                   dievaluasi secara kolektif.

                                   Perhitungan     cadangan                                             Calculation of impairment is
                                   kerugian penurunan nilai                                             done     for    each    stage
                                   sesuai     pada   masing-                                            according         to       the
                                   masing stage sesuai pada                                             characteristics      of    the
                                   karakteristik      staging.                                          staging. The calculation
                                   Metode perhitungan pada                                              method for each stage is as
                                   masing-masing        stage                                           follows:
                                   adalah sebagai berikut:
                                   1. Stage 1: 12-months                                                1.   Stage 1: 12-months
                                       ECL                                                                   ECL
                                   2. Stage 2: Lifetime ECL                                             2.   Stage 2: Lifetime ECL
                                   3. Stage 3: Lifetime ECL                                             3.   Stage 3: Lifetime ECL

                                   12-Months ECL adalah                                                 12-Months ECL is the
                                   perhitungan       kerugian                                           calculation of the expected
                                   ekspektasian          yang                                           loss for the next 1 year.
                                   dihitung untuk 1 tahun ke
                                   depan.




                                                            80
                                                                                                              ANNUAL REPORT 2023         1147
Page 641
            MAIN                         MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                          ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                          (continued)

                    c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                        H.   Allowance for impairment            losses    of
                              keuangan (lanjutan)                                                financial assets (continued)

                              3.   Metode penurunan nilai (lanjutan)                             3.   Impairment method (continued)

                                   Grup melakukan evaluasi penurunan                                  The Group evaluates the impairment
                                   nilai dengan metode sebagai berikut                                using the following methods (continued):
                                   (lanjutan):

                                   b)   Metode Kolektif (lanjutan)                                    b)   Collective Method (continued)

                                        2)   Evaluasi     Penurunan      Nilai                             2) Impairment              Evaluation
                                             (lanjutan)                                                       (continued)

                                             d.   Expected     Credit    Loss                                  d.   Expected    Credit      Loss
                                                  (lanjutan)                                                        (continued)

                                                  ECL-Lifetime       adalah                                         ECL-Lifetime      is     the
                                                  perhitungan      kerugian                                         calculation of the expected
                                                  ekspektasian         yang                                         loss which is calculated for
                                                  dihitung untuk sisa tenor                                         the remaining tenor of the
                                                  fasilitas.                                                        facility.

                                                  Dalam perhitungan ECL                                             Every year in calculating the
                                                  setiap             tahun                                          ECL uses the discount
                                                  menggunakan     discount                                          factor based on formula that
                                                  factor dengan formula                                             the Group has formulated.
                                                  yang      Grup      telah
                                                  rumuskan.

                                                  Probability weighted dalam                                        The probability weighted in
                                                  perhitungan      cadangan                                         the      calculation      of
                                                  kerugian penurunan nilai                                          impairment      has   been
                                                  telah ditentukan oleh Grup                                        determined by the Group
                                                  mencakup        persentase                                        which      includes     the
                                                  skenario optimis, normal,                                         percentage of optimistic,
                                                  dan pesimis.                                                      normal, and pessimistic
                                                                                                                    scenarios.

                                                  Total rata-rata tertimbang                                        The total weighted of the
                                                  atas estimasi arus kas                                            estimated     cash      flow
                                                  dimaksud            menjadi                                       becomes a deduction from
                                                  pengurang      atas    nilai                                      the carrying amount of the
                                                  tercatat    kredit    yang                                        loans, where the difference
                                                  dimana selisihnya akan                                            will be the allowance for
                                                  menjadi          cadangan                                         impairment on loans.
                                                  kerugian penurunan nilai
                                                  kredit.

                              4.   Pendapatan bunga sebelum              dan                     4.   Interest income       before   and    after
                                   sesudah penurunan nilai                                            impairment

                                   Sebelum terjadinya penurunan nilai                                 Prior to impairment (stage 1 & 2), interest
                                   (stage 1 & 2), pendapatan bunga                                    income is calculated using the effective
                                   dihitung menggunakan metode bunga                                  interest method, by applying an effective
                                   efektif yaitu dengan menerapkan suku                               interest rate to the gross carrying amount
                                   bunga efektif atas jumlah tercatat bruto                           of financial assets except for financial
                                   aset keuangan kecuali untuk aset                                   assets purchased or originated from
                                   keuangan yang dibeli atau yang berasal                             impaired financial assets.
                                   dari aset keuangan memburuk.


                                                                          81
1148 PT Bank Mandiri (Persero) Tbk
Page 642
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment            losses     of
               keuangan (lanjutan)                                                  financial assets (continued)

               4.   Pendapatan bunga sebelum dan                                    4.   Interest income before         and     after
                    sesudah penurunan nilai (lanjutan)                                   impairment (continued)

                    Pendapatan bunga dari aset keuangan                                  Interest income from impaired financial
                    yang mengalami penurunan nilai (stage                                assets (stage 3 or POCI) calculated by
                    3 atau POCI) dilakukan dengan                                        applying an effective interest rate on the
                    menerapkan suku bunga efektif atas                                   net carrying amount of financial assets,
                    jumlah tercatat neto aset keuangan yaitu                             which is the outstanding amount after
                    jumlah saldo setelah dikurangi dengan                                deducting losses due to impairment for:
                    kerugian akibat penurunan nilai untuk:

                    a)   Aset Keuangan yang Dibeli atau                                  a)   Financial Assets Purchased or
                         Berasal dari Aset Keuangan                                           Originated Credit-Impaired Financial
                         Memburuk (“POCI”)                                                    Assets (“POCI”)

                         Untuk aset keuangan tersebut,                                        For these financial assets, the Group
                         Grup menerapkan suku bunga                                           applies a risk-adjusted effective
                         efektif yang disesuaikan dengan                                      interest rate on the amortised cost of
                         risiko kredit (risk-adjusted effective                               the financial assets since initial
                         interest rate) atas biaya perolehan                                  recognition.
                         diamortisasi dari aset keuangan
                         sejak pengakuan awal.

                    b)   Stage 3                                                         b)   Stage 3

                         Untuk aset keuangan tersebut,                                        For these financial assets, the Group
                         Grup menerapkan suku bunga                                           applies an effective interest rate on
                         efektif  atas    biaya   perolehan                                   the amortised cost of financial assets
                         diamortisasi dari aset keuangan di                                   in the reporting period, which is the
                         periode pelaporan, yaitu nilai yang                                  amount that has been reduced by
                         telah dikurangi kerugian akibat                                      any impairment losses.
                         penurunan nilai.

                    Pendapatan bunga selanjutnya diakui                                  Interest   income     is    subsequently
                    atas dasar suku bunga yang digunakan                                 recognised based on of the interest rate
                    untuk mendiskonto arus kas masa                                      used to discount future cash flows in
                    depan dalam pengukuran kerugian                                      measuring impairment losses or what is
                    penurunan nilai atau yang disebut                                    known as unwinding interest.
                    dengan unwinding interest.

               5.   Penyisihan kerugian aset produktif                              5.   Allowance for possible losses on
                    Entitas Anak berbasis syariah                                        earning assets of Subsidiary based on
                                                                                         sharia

                    Cadangan kerugian penurunan nilai atas                               Allowance for impairment losses on
                    piutang murabahah yang dinilai secara                                murabahah receivable is calculated based
                    kolektif dihitung berdasarkan PSAK 102                               on collective method according to SFAS
                    “Akuntansi Murabahah” dan ISAK 102                                   102 “Accounting for Murabahah” and
                    “Penurunan Nilai Piutang Murabahah”.                                 Interpretation of Financial Accounting
                                                                                         Standard (“IFAS”) 102 “Impairment Loss
                                                                                         for Murabahah Receivables”.




                                                           82
                                                                                                             ANNUAL REPORT 2023         1149
Page 643
            MAIN                        MANAGEMENT                           COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                            ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                           (continued)

                    c.   Instrumen keuangan (lanjutan)                                   c. Financial instruments (continued)

                         H.   Cadangan kerugian penurunan nilai aset                         H.   Allowance for impairment              losses    of
                              keuangan (lanjutan)                                                 financial assets (continued)

                              5.   Penyisihan kerugian aset produktif                             5.   Allowance for possible losses on
                                   Entitas    Anak berbasis   syariah                                  earning assets of Subsidiary based on
                                   (lanjutan)                                                          sharia (continued)

                                   (a) Aset    keuangan   yang    dicatat                              (a) Financial assets carried at amortised
                                       berdasarkan    biaya    perolehan                                   cost
                                       diamortisasi

                                       1.   Aset produktif terdiri dari giro                               1.    Earning assets consist of current
                                            dan penempatan pada Bank                                             account and placements with
                                            Indonesia      dalam       bentuk                                    Bank Indonesia in the form of
                                            Sertifikat   Bank       Indonesia                                    Bank        Indonesia       Sharia
                                            Syariah     (SBIS),       Fasilitas                                  Certificate    (Sertifikat    Bank
                                            Simpanan Bank Indonesia                                              Indonesia Syariah (SBIS)), Bank
                                            Syariah (FASBIS), Tagihan                                            Indonesia Sharia Deposit Facility
                                            Reverse Repo SBSN BI, Term                                           (Fasilitas     Bank      Indonesia
                                            Deposit Valas Syariah BI, giro                                       Syariah (FASBIS)), Reverse
                                            pada     bank     syariah     lain,                                  Repo Receivables State Sharia
                                            penempatan pada bank syariah                                         Certificates (Surat Berharga
                                            lain, investasi pada surat                                           Syariah Negara (SBSN)) BI,
                                            berharga, penyertaan modal                                           Term Deposit Foreign Currency
                                            sementara,                 piutang                                   Sharia BI, current accounts with
                                            murabahah,           pembiayaan                                      other sharia banks, placement
                                            musyarakah dan mudharabah                                            with     other   sharia     banks,
                                            dan      pembiayaan        syariah                                   investment      in      marketable
                                            lainnya (termasuk pinjaman                                           securities, temporary equity
                                            qardh), dan komitmen dan                                             participation,          murabahah
                                            kontinjensi yang memiliki risiko                                     receivables, musyarakah and
                                            kredit seperti bank garansi dan                                      mudharabah financing and other
                                            letter of credit (“L/C”) yang                                        sharia financing (including funds
                                            tidak dapat dibatalkan dan                                           of qardh, and commitments and
                                            standby letter of credit.                                            contingencies with credit risk,
                                                                                                                 such as bank guarantees,
                                                                                                                 irrevocable letter of credit (“LC”)
                                                                                                                 and standby letter of credit.


                                            Penyisihan    kerugian     aset                                      Allowance for impairment losses
                                            produktif   dan    aset    non-                                      of earning assets and non-
                                            produktif bank umum yang                                             earning assets for commercial
                                            melaksanakan          kegiatan                                       bank     conducting    business
                                            berdasarkan prinsip syariah                                          based on sharia principles is
                                            diatur dalam Peraturan Otoritas                                      regulated on Financial Services
                                            Jasa      Keuangan      (POJK)                                       Authority Regulation (“POJK”)
                                            No. 2/POJK.03/2022 tanggal                                           No.    2/POJK.03/2022     dated
                                            31 Januari 2022 tentang                                              31 January 2022 regarding
                                            Penilaian Kualitas Aset Bank                                         "Asset Quality Assessment for
                                            Umum Syariah dan Unit Usaha                                          Sharia Commercial Banks and
                                            Syariah,      serta       POJK                                       Sharia Business Units", and
                                            No. 12/POJK.03/2015 tanggal                                          POJK No. 12/POJK.03/2015
                                            21 Agustus 2015 tentang                                              dated 21 August 2015 regarding
                                            Ketentuan         Kehati-hatian                                      ”Prudential Principle Provisions
                                            dalam      Rangka     Stimulus                                       for Sharia Banks and Sharia
                                            Perekonomian Nasional bagi                                           Commercial Business Units
                                            Bank Umum Syariah dan Unit                                           to Stimulate      the   National
                                            Usaha Syariah.                                                       Economy”.




                                                                           83
1150 PT Bank Mandiri (Persero) Tbk
Page 644
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                             Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                           KEUANGAN   2023
                                                                                                             Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment            losses    of
               keuangan (lanjutan)                                                  financial assets (continued)

               5.   Penyisihan kerugian aset produktif                              5.   Allowance for possible losses on
                    Entitas    Anak berbasis   syariah                                   earning assets of Subsidiary based on
                    (lanjutan)                                                           sharia (continued)

                    (a) Aset    keuangan      yang    dicatat                            (a) Financial assets carried at amortised
                        berdasarkan      biaya     perolehan                                 cost (continued)
                        diamortisasi (lanjutan)

                             Pedoman         pembentukan                                         The      guidelines  for   the
                             penyisihan   kerugian    aset                                       establishment of allowance for
                             produktif berdasarkan POJK                                          impairment losses on earning
                             tersebut   adalah     sebagai                                       assets      based    on    the
                             berikut:                                                            aforementioned FSA Regulation
                                                                                                 are as follows:

                             a)   Cadangan             umum,                                     a)   General reserve, shall be no
                                  sekurang-        kurangnya                                          less than 1% of total
                                  sebesar 1% dari aset                                                earning assets classified as
                                  produktif yang digolongkan                                          current, excluding Bank
                                  lancar, tidak termasuk                                              Indonesia               Sharia
                                  SBIS dan surat berharga                                             Certificates     and     debt
                                  yang             diterbitkan                                        securities issued by the
                                  pemerintah berdasarkan                                              Government       based     on
                                  prinsip    syariah,    serta                                        sharia principles, and part of
                                  bagian aset produktif yang                                          earning assets guaranteed
                                  dijamin dengan jaminan                                              by government and cash
                                  pemerintah dan agunan                                               collateral in the form of
                                  tunai      berupa       giro,                                       demand deposits, saving
                                  tabungan,         deposito,                                         deposits, time deposits,
                                  setoran jaminan, dan/atau                                           guarantee deposits, and/or
                                  emas yang diblokir dan                                              gold which are pledged and
                                  disertai   dengan      surat                                        accompanied        with   the
                                  kuasa pencairan.                                                    power      of   attorney    to
                                                                                                      liquidate.

                             b)   Cadangan            khusus,                                    b)   Special reserve shall be at
                                  sekurang-        kurangnya                                          least:
                                  sebesar:
                                  -   5% dari aset produktif                                          Ͳ   5% of earning assets
                                      yang       digolongkan                                              classified as Special
                                      Dalam         Perhatian                                             Mention after deducting
                                      Khusus           setelah                                            collateral value;
                                      dikurangi nilai agunan;                                         Ͳ   15% of earning assets
                                  -   15%       dari      aset                                            classified             as
                                      produktif          yang                                             Substandard          after
                                      digolongkan Kurang                                                  deducting       collateral
                                      Lancar           setelah                                            value;
                                      dikurangi nilai agunan;
                                  -   50%       dari      aset                                        Ͳ   50% of earning assets
                                      produktif          yang                                             classified as Doubtful
                                      digolongkan                                                         after          deducting
                                      Diragukan        setelah                                            collateral value;
                                      dikurangi nilai agunan;
                                  -   100%      dari      aset                                        Ͳ   100% of earning assets
                                      produktif          yang                                             classified as Loss after
                                      digolongkan       Macet                                             deducting      collateral
                                      setelah dikurangi nilai                                             value.
                                      agunan.




                                                           84
                                                                                                            ANNUAL REPORT 2023         1151
Page 645
            MAIN                         MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                          (continued)
                    c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)
                         H.   Cadangan kerugian penurunan nilai aset                        H.   Allowance for impairment             losses     of
                              keuangan (lanjutan)                                                financial assets (continued)
                              5.   Penyisihan kerugian aset produktif                            5.   Allowance for possible losses on
                                   Entitas    Anak berbasis   syariah                                 earning assets of Subsidiary based on
                                   (lanjutan)                                                         sharia (continued)
                                   (a) Aset    keuangan      yang    dicatat                          (a) Financial assets carried at amortised
                                       berdasarkan      biaya     perolehan                               cost (continued)
                                       diamortisasi (lanjutan)
                                            Pedoman          pembentukan                                      The      guidelines    for  the
                                            penyisihan    kerugian    aset                                    establishment of allowance for
                                            produktif berdasarkan POJK                                        impairment losses on earning
                                            tersebut adalah sebagai berikut                                   assets      based      on   the
                                            (lanjutan):                                                       aformentioned FSA Regulation
                                                                                                              are as follows (continued):
                                            c)   Kewajiban             untuk                                   c)   The        requirement      to
                                                 membentuk       penyisihan                                         establish allowance for
                                                 kerugian aset produktif                                            impairment losses shall not
                                                 tidak berlaku bagi aset                                            be applicable for earning
                                                 produktif untuk transaksi                                          assets       under    leasing
                                                 sewa dengan perpindahan                                            transactions in the form of
                                                 hak milik berupa akad                                              ijarah or ijarah muntahiyah
                                                 ijarah     atau       ijarah                                       bittamlik. The Subsidiary is
                                                 muntahiyah        bittamlik.                                       required                    to
                                                 Entitas    Anak        wajib                                       depreciate/amortize       the
                                                 membentuk penyusutan/                                              assets of ijarah muntahiyah
                                                 amortisasi terhadap aset                                           bittamlik.
                                                 ijarah         muntahiyah
                                                 bittamlik.
                                            Khusus untuk kualitas surat                                       For marketable securities and
                                            berharga dan penempatan                                           placements to the Subsidiary,
                                            pada Entitas Anak ditetapkan                                      the collectability is classified into
                                            menjadi 3 (tiga) golongan yaitu                                   3 (three) categories: current,
                                            lancar, kurang lancar dan                                         substandard,         and        loss.
                                            macet.     Sedangkan      untuk                                   collectabilty of investment in
                                            kualitas penyertaan modal                                         shares is determined into 4
                                            kualitasnya ditetapkan menjadi                                    (four)     categories:       current,
                                            4 (empat) golongan yaitu                                          substandard, doubtful and loss.
                                            lancar,     kurang      lancar,
                                            diragukan dan macet.
                                       2. Untuk Murabahah, Entitas Anak                                   2. For Murabahah, the Subsidiary
                                            mengevaluasi apakah terdapat                                     evaluates whether there is an
                                            bukti objektif bahwa aset                                        objective evidence that the
                                            keuangan atau kelompok aset                                      financial assets or group of
                                            keuangan               mengalami                                 financial assets are impaired.
                                            penurunan         nilai.    Aset                                 The financial assets or group of
                                            keuangan atau kelompok aset                                      financial assets are impaired
                                            keuangan diturunkan nilainya                                     and      the    impairment    loss
                                            dan kerugian penurunan nilai                                     occurred only if there is an
                                            telah    terjadi    hanya    jika,                               objective evidence regarding the
                                            terdapat        bukti     objektif                               impairment as a result of one or
                                            mengenai       penurunan     nilai                               more events that occurred after
                                            tersebut sebagai akibat dari                                     initial recognition which impacts
                                            satu atau lebih peristiwa yang                                   the estimated future cash flows
                                            terjadi setelah pengakuan awal                                   that can be reliably estimated.
                                            tersebut      (peristiwa    yang
                                            merugikan), yang berdampak
                                            pada estimasi arus kas masa
                                            depan atas aset keuangan atau
                                            kelompok aset yang dapat
                                            diestimasi secara andal.
                                       Cadangan kerugian penurunan nilai                                  The allowance for impairment on
                                       atas piutang murabahah yang                                        murabahah receivables is calculated
                                       dinilai secara kolektif dihitung                                   using     collective    assessment
                                       berdasarkan PSAK 55, “Instrumen                                    according to SFAS No. 55, “Financial
                                       Keuangan:     Pengakuan      dan                                   Instruments:     Recognition    and
                                       Pengukuran”.                                                       Measurement”.



                                                                          85
1152 PT Bank Mandiri (Persero) Tbk
Page 646
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)

     c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                          H.   Allowance for impairment             losses     of
               keuangan (lanjutan)                                                  financial assets (continued)

               5.   Penyisihan kerugian aset produktif                              5.   Allowance for possible losses on
                    Entitas    Anak berbasis   syariah                                   earning assets of Subsidiary based on
                    (lanjutan)                                                           sharia (continued)

                    (a) Aset    keuangan      yang    dicatat                            (a) Financial assets carried at amortised
                        berdasarkan      biaya     perolehan                                 cost (continued)
                        diamortisasi (lanjutan)

                        Sesuai      dengan    PSAK    102                                    In accordance with SFAS No. 102
                        "Akuntansi      Murabahah"    dan                                    “Accounting for Murabahah” and
                        Pedoman Akuntansi Perbankan                                          Indonesia       Sharia      Banking
                        Syariah Indonesia (PAPSI Revisi                                      Accounting     Guidelines    (PAPSI
                        2013), Entitas Anak menghitung                                       Revised 2013), the Subsidiary
                        CKPN individual untuk piutang                                        calculates individual allowance for
                        murabahah        sesuai    dengan                                    impairment losses for murabahah
                        ketentuan di ISAK 102 “Penurunan                                     receivables in accordance with IFAS
                        Nilai Piutang Murabahah”.                                            No. 102 “Impairment of Murabahah
                                                                                             Receivables”.
                        Entitas Anak menetapkan piutang                                     The         Subsidiary         determines
                        murabahah yang harus dievaluasi                                     murabahah         receivables     to   be
                        penurunan          nilainya     secara                              evaluated for impairment through
                        individual, jika memenuhi salah satu                                individual evaluation if one of the
                        kriteria di bawah ini:                                              following criteria is met:
                        1) Piutang murabahah memiliki                                       1) Murabahah receivables which
                             kolektibilitas kurang lancar,                                       have     collectibility  status   as
                             diragukan dan macet, dan                                            substandard, doubtful and loss,
                             memiliki saldo nilai piutang                                        and have an individual receivables
                             secara individual di atas atau                                      balance of above or equal to
                             sama dengan Rp10.000; dan                                           Rp10,000; and
                        2) Piutang        murabahah       yang                              2) Murabahah receivables that are
                             direstrukturisasi atau pernah                                       restructured      or    had     been
                             direstrukturisasi      dan   yang                                   restructured and which individually
                             secara individual memiliki saldo                                    have a balance of receivables
                             nilai piutang di atas Rp10.000.                                     above or equal Rp10,000
                        Entitas Anak menetapkan piutang                                     The          Subsidiary        determines
                        murabahah yang harus dievaluasi                                     murabahah         receivables     to     be
                        penurunan nilainya secara kolektif,                                 evaluated for impairment through
                        jika memenuhi salah satu kriteria di                                collective evaluation if one of the
                        bawah ini:                                                          following criteria is met:
                        1) Piutang        murabahah      yang                               1) Murabahah receivables which
                             secara individual memiliki nilai                                    individually have significant value
                             signifikan namun tidak memiliki                                     but there is no objective evidence
                             bukti objektif penurunan nilai;                                     of impairment;
                        2) Piutang        murabahah      yang                               2) Murabahah receivables which
                             secara individual memiliki nilai                                    individually    have     insignificant
                             tidak signifikan; dan                                               value; and
                        3) Piutang        murabahah      yang                               3) Restructured                murabahah
                             direstrukturisasi yang secara                                       receivables which individually have
                             individual memiliki nilai tidak                                     insignificant value.
                             signifikan.

                        Perhitungan cadangan kerugian                                       The calculation of allowance for
                        penurunan nilai atas aset keuangan                                  impairment losses on financial assets
                        yang     dinilai    secara     kolektif                             which are evaluated collectively,
                        dikelompokkan             berdasarkan                               grouped based on similar receivable
                        karakteristik risiko piutang yang                                   risk characteristics and taking into
                        sama dengan mempertimbangkan                                        account the receivable segmentation
                        segmentasi piutang berdasarkan                                      on the basis of historical loss
                        pengalaman kerugian masa lalu                                       experience (probability of default).
                        (probability of default).



                                                           86
                                                                                                             ANNUAL REPORT 2023       1153
Page 647
            MAIN                         MANAGEMENT                       COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                          PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)
                    c.   Instrumen keuangan (lanjutan)                                c. Financial instruments (continued)
                         H.   Cadangan kerugian penurunan nilai aset                      H.   Allowance for impairment             losses    of
                              keuangan (lanjutan)                                              financial assets (continued)
                              5.   Penyisihan kerugian aset produktif                          5.   Allowance for possible losses on
                                   Entitas    Anak berbasis   syariah                               earning assets of Subsidiary based on
                                   (lanjutan)                                                       sharia (continued)
                                   (a) Aset    keuangan      yang    dicatat                        (a) Financial assets carried at amortised
                                       berdasarkan      biaya     perolehan                             cost (continued)
                                       diamortisasi (lanjutan)
                                       Entitas Anak menggunakan metode                                  The Subsidiary uses the migration
                                       analisis migrasi yang merupakan                                  analysis method which is a statistical
                                       suatu metode analisis statistik,                                 analysis method to assess allowance
                                       untuk menilai cadangan kerugian                                  for impairment losses on collective
                                       penurunan nilai atas piutang yang                                receivables. The Subsidiary uses 5
                                       diberikan secara kolektif. Entitas                               (five) years historical data to compute
                                       Anak menggunakan data historis 5                                 for the Probablitity of Default (“PD”)
                                       (lima) tahun dalam menghitung                                    and Loss Given Default (“LGD”).
                                       probability of Default (“PD”) dan
                                       Loss Given Default (“LGD”).
                                   (b) Aset keuangan yang tersedia untuk                            (b) Financial    assets    classified    as
                                       dijual                                                           available for sale
                                       Pada setiap tanggal laporan posisi                               The Group assesses at each date of
                                       keuangan       konsolidasian, Grup                               the consolidated statement of
                                       mengevaluasi apakah terdapat                                     financial position whether there is
                                       bukti objektif bahwa aset keuangan                               objective evidence that a financial
                                       atau kelompok aset keuangan                                      asset or a group of financial assets is
                                       mengalami penurunan nilai. Lihat                                 impaired. Refer to Note 2c.(H).(2) for
                                       Catatan 2c.(H).(2) untuk kriteria                                the criteria of objective evidence of
                                       bukti objektif adanya penurunan                                  impairment.
                                       nilai.
                                       Penurunan yang signifikan atau                                   A significant or prolonged decline in
                                       penurunan jangka panjang atas                                    the fair value of the debt investments
                                       nilai wajar dari investasi dalam                                 below its cost is objective evidence
                                       instrumen utang di bawah biaya                                   of impairment resulting in the
                                       perolehannya merupakan bukti                                     recognition of an impairment loss. If
                                       objektif terjadinya penurunan nilai                              any such evidence exists for
                                       dan     menyebabkan       pengakuan                              available for sale financial assets, the
                                       kerugian penurunan nilai. Ketika                                 cumulative loss - measured as the
                                       terdapat bukti tersebut di atas untuk                            difference between the acquisition
                                       aset keuangan yang tersedia untuk                                cost and the current fair value, less
                                       dijual, kerugian kumulatif, yang                                 any impairment loss on that financial
                                       merupakan selisih antara biaya                                   asset previously recognised in
                                       perolehan dengan nilai wajar kini,                               consolidated statement of profit or
                                       dikurangi kerugian penurunan nilai                               loss and other comprehensive
                                       aset keuangan yang sebelumnya                                    income is removed from equity and
                                       telah diakui pada laporan laba rugi                              recognised in the consolidated
                                       dan penghasilan komprehensif lain                                statement of profit or loss and other
                                       konsolidasian, dikeluarkan dari                                  comprehensive income.
                                       ekuitas dan diakui pada laporan
                                       laba     rugi    dan     penghasilan
                                       komprehensif lain konsolidasian.
                                       Jika, pada tahun berikutnya, nilai                               If, in a subsequent period, the fair
                                       wajar      aset    keuangan     yang                             value of a financial asset classified
                                       diklasifikasikan dalam kelompok                                  as available for sale increases and
                                       tersedia untuk dijual meningkat dan                              the increase can be objectively
                                       peningkatan tersebut dapat secara                                related to an event occurring after
                                       objektif     dihubungkan     dengan                              the impairment loss was recognised
                                       peristiwa yang terjadi setelah                                   in consolidated statement of profit or
                                       pengakuan kerugian penurunan                                     loss and other comprehensive
                                       nilai pada laporan laba rugi dan                                 income, the impairment loss is
                                       penghasilan      komprehensif    lain                            reversed through the consolidated
                                       konsolidasian,      maka    kerugian                             statement of profit or loss and other
                                       penurunan nilai tersebut harus                                   comprehensive income.
                                       dipulihkan melalui laba rugi dan
                                       penghasilan      komprehensif    lain
                                       konsolidasian.

                                                                        87
1154 PT Bank Mandiri (Persero) Tbk
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 CORPORATE                   ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                          (continued)
     c.   Instrumen keuangan (lanjutan)                                  c. Financial instruments (continued)

          H.   Cadangan kerugian penurunan nilai aset                        H.   Allowance for impairment             losses     of
               keuangan (lanjutan)                                                financial assets (continued)
               5.   Penyisihan kerugian aset produktif                            5.   Allowance for possible losses on
                    Entitas    Anak berbasis   syariah                                 earning assets of Subsidiary based on
                    (lanjutan)                                                         sharia (continued)
                    (c) Kontrak jaminan     keuangan     dan                           (c) Financial guarantee contracts and
                        komitmen                                                           commitments
                        Kontrak jaminan keuangan adalah                                    Financial guarantee contracts are
                        kontrak      yang     mengharuskan                                 contracts that require the issuer to
                        penerbit       untuk      melakukan                                make        specified   payments     to
                        pembayaran yang ditetapkan untuk                                   reimburse the contracts holder for a
                        mengganti uang pemegang kontrak                                    loss incurred because a specified
                        atas kerugian yang terjadi karena                                  debtor defaulted to make payments
                        debitur tertentu gagal untuk                                       when due, in accordance with the
                        melakukan pembayaran pada saat                                     terms of a debt instrument. Such
                        jatuh tempo, sesuai dengan                                         financial guarantees are given to
                        ketentuan dari instrumen utang.                                    banks, financial institutions and other
                        Jaminan       keuangan       tersebut                              institutions on behalf of customers to
                        diberikan     kepada     bank-bank,                                secure loans and other banking
                        lembaga keuangan dan badan-                                        facilities.
                        badan lainnya atas nama debitur
                        untuk menjamin kredit dan fasilitas-
                        fasilitas perbankan lainnya.
                        Jaminan keuangan awalnya diakui                                    Financial guarantees are initially
                        dalam         laporan     keuangan                                 recognised in the consolidated
                        konsolidasian sebesar nilai wajar                                  financial statements at fair value on
                        pada tanggal jaminan diberikan.                                    the date which the guarantee was
                        Nilai wajar dari jaminan keuangan                                  given. The fair value of a financial
                        pada saat dimulainya transaksi                                     guarantee at inception is likely to
                        pada umumnya sama dengan                                           equal with the provision received
                        provisi yang diterima untuk jaminan                                because all guarantees are agreed
                        diberikan dengan syarat dan                                        on arm’s length terms. Subsequent
                        kondisi normal. Setelah pengakuan                                  to initial recognition, the Bank’s
                        awal, liabilitas Bank atas jaminan                                 liabilities under such guarantees are
                        tersebut diukur pada jumlah yang                                   measured at the higher amount
                        lebih tinggi antara jumlah awal,                                   between the initial amount, less
                        dikurangi amortisasi provisi dan                                   amortisation of provision recognised,
                        estimasi terbaik dari jumlah yang                                  and the best estimates of the amount
                        diharapkan akan terjadi untuk                                      required to settle the guarantee.
                        menyelesaikan jaminan tersebut.                                    These estimation are determined
                        Estimasi ini ditentukan berdasarkan                                based on experience of similar
                        pengalaman transaksi yang sejenis                                  transactions and history of past
                        dan kerugian historis masa lalu,                                   losses,      supplemented    by   the
                        dilengkapi       dengan    penilaian                               judgement from management. The
                        manajemen. Pendapatan provisi                                      provision income earned is amortised
                        yang diperoleh diamortisasi selama                                 over the period of guarantees using
                        jangka waktu jaminan dengan                                        the straight-line method.
                        menggunakan metode garis lurus.
                        Bank      menentukan       cadangan                                The Bank determines impairment
                        kerugian penurunan nilai aset                                      losses on financial assets of financial
                        keuangan atas kontrak jaminan                                      guarantee contracts that have credit
                        keuangan yang memiliki risiko                                      risk and commitment based on the
                        kredit dan komitmen berdasarkan                                    value that is higher between the
                        nilai yang lebih tinggi antara nilai                               amortised value (carrying value) and
                        amortisasi (nilai tercatat) dan nilai                              the present value of the liabilities that
                        kini atas pembayaran liabilitas yang                               are expected to occur (when
                        diharapkan akan terjadi (ketika                                    payment under the guarantee has
                        pembayaran atas jaminan tersebut                                   become probable) or impairment
                        menjadi probable) atau nilai                                       losses that are calculated based on
                        cadangan kerugian penurunan nilai                                  historical loss data for a collective
                        yang dihitung berdasarkan data                                     evaluation of impairment.
                        kerugian historis untuk evaluasi
                        penurunan nilai secara kolektif.


                                                         88
                                                                                                           ANNUAL REPORT 2023          1155
Page 649
            MAIN                            MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                           PROFILE                          ANALYSIS


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                            (continued)

                    c.   Instrumen keuangan (lanjutan)                                    c. Financial instruments (continued)

                         I.   Investasi pada sukuk                                            I.   Investment in sukuk

                              Sebelum        pengakuan       awal,      Grup                       Before the initial recognition, the Group
                              menentukan klasifikasi investasi pada sukuk                          determines the classification of investment in
                              berdasarkan      tujuan     investasi     Grup.                      sukuk based on the Group’s investment
                              Klasifikasi dalam investasi sukuk terdiri dari:                      objective. Investment in sukuk can be
                                                                                                   measured as follows:

                              -       Biaya perolehan                                              -   Acquisition cost

                                      Jika investasi tersebut dimiliki dalam                           If the investment is held within a business
                                      suatu model usaha yang bertujuan                                 model that aims to collect contractual
                                      utama untuk memperoleh arus kas                                  cash flows and there is a contractual
                                      kontraktual; dan terdapat persyaratan                            requirement to determine the specific date
                                      kontraktual untuk menentukan tanggal                             of principal payments and/or the returns.
                                      tertentu pembayaran pokok dan/atau                               The acquisition cost for sukuk ijarah and
                                      hasilnya. Biaya perolehan sukuk ijarah                           sukuk mudharabah includes transaction
                                      dan sukuk mudharabah termasuk biaya                              cost. The difference between acquisition
                                      transaksi. Selisih antara biaya perolehan                        cost and nominal value is amortised using
                                      dan nilai nominal diamortisasi secara                            straight-line method during the period of
                                      garis lurus selama jangka waktu sukuk.                           the sukuk instrument.

                              -       Diukur   pada   nilai   wajar      melalui                   -   Measured at fair value through other
                                      penghasilan komprehensif lain                                    comprehensive income

                                      Jika investasi tersebut dimiliki dalam                           If the investment is held within a business
                                      suatu model usaha yang bertujuan                                 model which its primary purpose is to
                                      utama untuk memperoleh arus kas                                  obtain contractual cash flows and sell off
                                      kontraktual dan melakukan penjualan                              sukuk and there is a contractual
                                      sukuk      dan   terdapat    persyaratan                         requirements determined by specific date
                                      kontraktual menentukan tanggal tertentu                          of payment of principal and/or results. The
                                      pembayaran pokok dan/atau hasilnya.                              acquisition cost of sukuk ijarah and sukuk
                                      Biaya perolehan sukuk ijarah dan sukuk                           mudharabah includes transaction costs.
                                      mudharabah termasuk biaya transaksi.                             The difference between the acquisition
                                      Selisih antara biaya perolehan dan nilai                         cost and nominal value is amortised on
                                      nominal diamortisasi secara garis lurus                          straight-line basis over the terms of
                                      selama jangka waktu sukuk. Perubahan                             sukuk. The changes in fair value are
                                      nilai wajar diakui dalam penghasilan                             recognised in other comprehensive
                                      komprehensif       lain.   Pada     saat                         income. At the time of derecognition, the
                                      penghentian        pengakuan      saldo,                         changes in fair value in other
                                      perubahan       nilai    wajar    dalam                          comprehensive income are reclassified to
                                      penghasilan        komprehensif      lain                        profit or loss as a reclassification
                                      direklasifikasi ke laba rugi sebagai                             adjustment.
                                      penyesuaian reklasifikasi.

                                  -   Diukur pada nilai wajar melalui laba rugi                    -   Measured at fair value through profit or
                                                                                                       loss

                                      Biaya perolehan sukuk ijarah dan sukuk                           The acquisition cost of sukuk ijarah and
                                      mudharabah yang diukur pada nilai                                sukuk mudharabah is measured at fair
                                      wajar melalui laba rugi tidak termasuk                           value through profit or loss excluding
                                      biaya transaksi. Untuk investasi pada                            transaction costs. For investments in
                                      sukuk yang diukur pada nilai wajar                               sukuk which are measured at fair value
                                      melalui laba rugi, selisih antara nilai                          through profit or loss, the difference
                                      wajar dan jumlah tercatat diakui dalam                           between the fair value and the carrying
                                      laba rugi.                                                       amount is recognised in profit or loss.



                                                                            89
1156 PT Bank Mandiri (Persero) Tbk
Page 650
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

          J.   Sukuk mudharabah yang diterbitkan                            J.   Sukuk mudharabah issued

               Sukuk     mudharabah      yang    diterbitkan                     Sukuk mudharabah issued is recognised at
               disajikan sebesar nilai nominal. Biaya-biaya                      nominal amount. Transaction costs from the
               yang timbul dari penerbitan surat berharga                        issuance    of    sukuk    mudharabah   are
               dicatat sebagai beban yang ditangguhkan                           recognised as deferred expense and
               yang disajikan dalam akun “Aset lain-lain”                        presented as “Other assets” and amortised
               dan diamortisasi secara garis lurus selama                        using straight-line over the terms of sukuk
               jangka waktu surat berharga.                                      mudharabah.

          K.   Penentuan nilai wajar                                        K.   Determination of fair value

               Nilai wajar adalah pengukuran berbasis                            Fair value is a market based measurement.
               pasar. Pengukuran/penetapan nilai wajar                           Fair value is the price that would be received
               bertujuan untuk mengestimasi harga dimana                         to sell an asset or paid to transfer a liability in
               transaksi teratur (orderly transaction) untuk                     an orderly transaction among market
               menjual aset atau mengalihkan liabilitas                          participants at the measurement date.
               akan terjadi antara pelaku pasar (market
               participants) pada tanggal pengukuran.

               Ketika tidak terdapat pasar aktif atau harga                      When there is no active market or the price of
               suatu instrumen keuangan yang identik tidak                       an identical financial instrument cannot be
               dapat diobservasi, Grup dapat mengukur                            observed, the Group can measure fair value
               nilai wajar menggunakan teknik penilaian                          using valuation techniques according to the
               sesuai jenis instrumen keuangan.                                  type of financial instrument.

               Grup dapat melakukan pengukuran nilai                             The Group can measure fair value, with the
               wajar, dengan hirarki sebagai berikut:                            following hierarchy:
               1. Input Level 1, yaitu harga kuotasian                           1. Input Level 1, the quoted prices
                   (tanpa penyesuaian) di pasar aktif untuk                           (unadjusted) in active markets for
                   aset atau liabilitas yang identik yang                             identical assets or liabilities that the
                   dapat diakses Grup pada tanggal                                    Group can access at the measurement
                   pengukuran.                                                        date.
               2. Input Level 2, yaitu input selain harga                        2. Input Level 2, the input other than quoted
                   kuotasian yang termasuk dalam level 1                              price included in level 1 that can be
                   yang dapat diobservasi untuk aset atau                             observed for assets or liabilities, either
                   liabilitas, baik secara langsung atau                              directly or indirectly.
                   tidak langsung.
               3. Input Level 3, yaitu input yang tidak                          3.   Input Level 3, the unobservable input for
                   dapat diobservasi untuk aset atau                                  an asset or liability.
                   liabilitas.

               Pengukuran nilai wajar mengasumsikan                              A fair value measurement assumes that the
               bahwa transaksi untuk menjual aset atau                           transaction to sell the asset or transfer the
               mengalihkan liabilitas terjadi:                                   liability takes place either:
               -  Di pasar utama untuk aset dan liabilitas                       -     In the principal market for the asset or
                  tersebut; atau                                                       liability; or
               -  Jika tidak terdapat pasar utama, di                            -     In the absence of a principal market, in
                  pasar yang paling menguntungkan                                      the most advantageous market for the
                  untuk aset atau liabilitas tersebut.                                 asset or liability.




                                                        90
                                                                                                           ANNUAL REPORT 2023          1157
Page 651
            MAIN                        MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

                         K.   Penentuan nilai wajar (lanjutan)                             K.   Determination of fair value (continued)

                              Nilai wajar suatu aset atau liabilitas diukur                     The fair value of an asset or a liability should
                              menggunakan asumsi yang akan digunakan                            be measured using the assumptions that
                              pelaku pasar ketika menentukan harga aset                         market participants would use when pricing
                              dan liabilitas tersebut dengan asumsi bahwa                       the asset or liability, assuming that market
                              pelaku pasar bertindak dalam kepentingan                          participants act in their best economic interest.
                              ekonomi terbaiknya.

                              Pengukuran nilai wajar aset non-keuangan                          A fair value measurement of a non-financial
                              memperhitungkan kemampuan pelaku pasar                            asset takes into account a market participant's
                              untuk menghasilkan manfaat ekonomik                               ability to generate economic benefits by using
                              dengan     menggunakan      aset     dalam                        the asset at its highest and best use or by
                              penggunaan tertinggi dan terbaiknya atau                          selling it to another market participant that
                              dengan menjualnya kepada pelaku pasar                             would use the asset at its highest and best
                              lain yang akan menggunakan aset tersebut                          use.
                              dalam penggunaan tertinggi dan terbaiknya.

                              Nilai wajar untuk instrumen keuangan yang                         The fair value of financial instruments traded
                              diperdagangkan di pasar aktif, seperti efek-                      in active markets, such as marketable
                              efek dan obligasi pemerintah, ditentukan                          securities and government bonds, is
                              berdasarkan nilai pasar yang berlaku pada                         determined based on quoted market prices at
                              tanggal     laporan      posisi      keuangan                     the consolidated statement of financial
                              konsolidasian menggunakan harga yang                              position date using price that published
                              dipublikasikan secara rutin dan berasal dari                      regularly and from credible sources such as
                              sumber yang terpercaya, seperti Bloomberg,                        quoted market prices from Bloomberg,
                              Reuters atau harga yang diberikan oleh                            Reuters or broker’s quoted price. Investments
                              broker (harga kuotasian). Investasi dalam                         in mutual fund units are stated at market
                              unit reksadana dinyatakan sebesar nilai                           value, in accordance with the net value of
                              pasar sesuai nilai aset bersih dari reksadana                     assets of the mutual funds at the consolidated
                              pada tanggal laporan posisi keuangan                              statement of financial position date.
                              konsolidasian.

                              Instrumen keuangan dianggap memiliki                              A financial instrument is deemed to be quoted
                              kuotasi di pasar aktif, jika harga kuotasi                        in an active market if quoted prices are
                              tersedia sewaktu-waktu dan dapat diperoleh                        available at any time and can be obtained
                              secara rutin dari bursa, pedagang efek                            regularly from stock exchanges, dealers, and
                              (dealer), perantara efek (broker) dan harga                       brokers. These prices reflect actual and
                              tersebut mencerminkan transaksi pasar yang                        regular market transactions in a fair
                              aktual dan rutin dalam suatu transaksi yang                       transaction. If the criteria above are not met,
                              wajar. Jika kriteria di atas tidak terpenuhi,                     the active market is declared unavailable.
                              maka pasar aktif dinyatakan tidak tersedia.                       Indications of an inactive market are that there
                              Indikasi-indikasi dari pasar tidak aktif adalah                   is a large gap between the bid and ask prices
                              terdapat selisih yang besar antara harga                          or a significant increase in the difference
                              penawaran dan permintaan atau kenaikan                            between the bid and ask prices, and there are
                              signifikan dalam selisih harga penawaran                          only a few recent transactions.
                              dan permintaan dan hanya terdapat
                              beberapa transaksi terkini.

                              Untuk efek-efek yang tidak mempunyai                              For marketable securities with no quoted
                              harga pasar, estimasi atas nilai wajar efek-                      market price, a reasonable estimate of the fair
                              efek ditetapkan dengan mengacu pada nilai                         value is determined by reference to the current
                              wajar instrumen lain yang substansinya                            market value of another instrument which
                              sama atau dihitung berdasarkan arus kas                           substantially has the same characteristic or
                              yang diharapkan terhadap aset bersih efek-                        calculated based on the expected cash flows
                              efek tersebut.                                                    of the underlying net asset base of the
                                                                                                marketable securities.


                                                                         91
1158 PT Bank Mandiri (Persero) Tbk
Page 652
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     c.   Instrumen keuangan (lanjutan)                                 c. Financial instruments (continued)

          K.   Penentuan nilai wajar (lanjutan)                             K.   Determination of fair value (continued)

               Untuk obligasi pemerintah yang tidak                              For government bonds with no quoted market
               memiliki nilai pasar, estimasi nilai wajar                        prices, a reasonable estimate of the fair value
               ditentukan dengan menggunakan model                               is determined using the internal model based
               internal berdasarkan nilai kini dari arus kas                     on the present value of expected future cash
               masa depan yang diharapkan (pendekatan                            flows using the next-repricing method with a
               next-repricing       method)          dengan                      deflator factor.
               menggunakan faktor deflator.

          L.   Reformasi acuan suku bunga                                   L.   Interest rate benchmark reform

               Untuk pengukuran instrumen keuangan yang                          For the measurement of financial instruments
               menggunakan biaya perolehan diamortisasi                          using amortised cost (financial assets of debt
               (aset keuangan instrumen utang yang                               instruments classified as amortised cost and
               diklasifikasikan sebagai biaya perolehan                          fair value through other comprehensive
               diamortisasi dan nilai wajar melalui                              income, as well as financial liabilities
               penghasilan       komprehensif    lain, serta                     measured at amortised cost), changes in the
               liabilitas keuangan yang diukur pada biaya                        future contractual cash flows of those financial
               perolehan diamortisasi), perubahan arus kas                       instruments occurs as a result of interest rate
               kontraktual masa depan dari instrumen                             reform (change in the contractual benchmark
               keuangan tersebut yang terjadi akibat                             interest rate from the previous LIBOR interest
               reformasi suku bunga (perubahan suku                              rate to an alternative benchmark interest rate)
               bunga acuan kontraktual dari sebelumnya                           will change the effective interest rate of the
               suku bunga LIBOR menjadi suku bunga                               financial instrument. The change in contractual
               acuan alternatif) akan mengubah tingkat                           cash flows does not affect the amortised cost
               suku bunga efektif instrumen keuangan                             of the financial instrument, and has no impact
               tersebut. Perubahan arus kas kontraktual                          on profit or loss (practical expedient). Such
               tersebut      tidak   mempengaruhi      biaya                     practical expedient can be applied if and only
               perolehan diamortisasi instrumen keuangan                         if the following 2 (two) requirements are met:
               dimaksud, dan tidak berdampak pada laba
               atau rugi (penerapan praktis). Penerapan
               praktis tersebut dapat diterapkan jika dan
               hanya jika 2 (dua) persyaratan berikut
               terpenuhi:
               1. Perubahan arus kas kontraktual tersebut                        1.   The change in contractual cash flows is
                     diperlukan sebagai akibat langsung dari                          necessary as a direct result of the reform
                     reformasi acuan suku bunga; dan                                  of benchmark interest rates; and
               2. Suku bunga acuan alternatif pengganti                          2.   The alternative reference interest rate is
                     secara ekonomis setara (economically                             economically equivalent to the previously
                     equivalent) dengan suku bunga acuan                              used benchmark interest rate.
                     yang digunakan sebelumnya.

     d.   Prinsip-prinsip konsolidasian                                d.   Principles of consolidation

          Laporan keuangan konsolidasian meliputi laporan                   The consolidated financial statements include the
          keuangan Bank Mandiri dan Entitas Anak yang                       financial statement of Bank Mandiri and its
          mayoritas sahamnya dimiliki atau dikendalikan                     Subsidiaries in which the majority shares are
          oleh Bank Mandiri.                                                owned or controlled by Bank Mandiri.

          Pengendalian didapat ketika Bank terekspos atau                   Control is presumed to exist where the Bank is
          memiliki hak atas imbal hasil variabel dari                       exposed, or has rights, to variable returns from its
          keterlibatannya dengan Entitas Anak dan                           involvement with the Subsidiaries and has ability to
          memiliki kemampuan untuk mempengaruhi imbal                       use its power to affect its returns from its
          hasil tersebut melalui kekuasaannya atas Entitas                  involvement with the Subsidiaries.
          Anak.



                                                        92
                                                                                                          ANNUAL REPORT 2023        1159
Page 653
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    d.   Prinsip-prinsip konsolidasian (lanjutan)                    d.   Principles of consolidation (continued)

                         Bank mengendalikan Entitas Anak jika dan hanya                   The Bank controls the Subsidiaries if and only if
                         jika Bank memiliki hak berikut ini:                              the Bank acquires these rights:
                         a) Kekuasaan atas Entitas Anak (hak yang ada                     a) Authority over the Subsidiaries (has existing
                              saat ini yang mempengaruhi kemampuan                             rights that affect the current ability to direct the
                              kini untuk mengarahkan aktivitas relevan                         relevant activities, that significantly affect the
                              yang secara signifikan mempengaruhi imbal                        Subsidiaries’ returns).
                              hasil Entitas Anak).
                         b) Eksposur atau hak atas imbal hasil variabel                   b)   Exposure or rights of variable returns from its
                              dari keterlibatannya dengan Entitas Anak.                        involvement with the Subsidiaries.
                         c) Kemampuan             untuk      menggunakan                  c)   The ability to use its authority over the
                              kekuasaannya atas Entitas Anak untuk                             Subsidiaries to affect the amount of the Bank's
                              mempengaruhi jumlah imbal hasil Bank.                            returns.

                         Pada laporan keuangan konsolidasian Bank                         In the consolidated financial statement of Bank
                         Mandiri, semua saldo dan transaksi yang                          Mandiri, all significant inter-company balances and
                         signifikan antar perusahaan yang dikonsolidasi                   transactions have been eliminated. The non-
                         telah dieliminasi. Kepentingan nonpengendali                     controlling interest net income of Subsidiaries is
                         atas laba bersih Entitas Anak disajikan sebagai                  presented as a deduction to consolidated net
                         pengurang dari laba bersih konsolidasian untuk                   income in order to present the Bank’s income.
                         mendapatkan jumlah laba yang menjadi hak                         Non-controlling interest in net assets is presented
                         pemilik entitas Bank. Kepentingan nonpengendali                  as part of equity in the consolidated statement of
                         dalam aset bersih disajikan sebagai bagian dari                  financial position, except for non-controlling
                         ekuitas kecuali kepentingan nonpengendali yang                   interest from mutual fund consolidation is
                         berasal dari konsolidasi atas reksadana disajikan                presented as part of liabilities in the consolidated
                         sebagai bagian dari liabilitas dalam laporan posisi              statement of financial position.
                         keuangan konsolidasian.

                         Laporan keuangan konsolidasian disusun dengan                    The consolidated financial statements are
                         menggunakan kebijakan akuntansi yang sama                        prepared using a consistent accounting policy for
                         untuk peristiwa dan transaksi sejenis dalam                      transactions and events in similar circumstances.
                         kondisi yang sama. Kebijakan akuntansi yang                      The accounting policies adopted in preparing the
                         digunakan      dalam       laporan       keuangan                consolidated financial statements have been
                         konsolidasian telah diterapkan secara konsisten                  consistently applied by the Subsidiaries, unless
                         oleh Entitas Anak, kecuali bila dinyatakan lain.                 otherwise stated.

                         Bila pengendalian atas suatu entitas diperoleh                   If the control on an entity is obtained or ends in the
                         atau berakhir dalam tahun berjalan, hasil usaha                  current year, the entity’s net income is included in
                         entitas tersebut dimasukkan dalam laporan laba                   the consolidated statement of of profit or loss and
                         rugi dan penghasilan komprehensif lain                           other comprehensive income from the date of
                         konsolidasian sejak tanggal pengendalian dimulai                 acquisition of the control or until the date the
                         atau sampai dengan tanggal pengendalian                          control ceased.
                         berakhir.

                         Transaksi kombinasi bisnis entitas sepengendali,                 Business combination transaction amongst entities
                         berupa pengalihan bisnis yang dilakukan dalam                    under common control, in the form of transfer of
                         rangka reorganisasi entitas-entitas yang berada                  business conducted for the reorganisation of
                         dalam suatu kelompok usaha yang sama, bukan                      entities under common control, does not represent
                         merupakan perubahan kepemilikan dalam arti                       a change of ownership in terms of economic
                         substansi ekonomi, sehingga transaksi tersebut                   substance, therefore, there shall be no gain or loss
                         tidak dapat menimbulkan laba atau rugi bagi                      recognised by the group as a whole and by
                         kelompok usaha secara keseluruhan ataupun                        individual entities within the group.
                         bagi entitas individual dalam kelompok usaha
                         tersebut.

                         Oleh karena transaksi kombinasi bisnis entitas                   Since the business combination transaction
                         sepengendali tidak mengakibatkan perubahan                       amongst entities under common control does not
                         substansi ekonomi kepemilikan atas bisnis yang                   cause any change in the economic substance of
                         dipertukarkan, maka transaksi tersebut diakui                    ownership of the transferred business, therefore
                         pada jumlah tercatat berdasarkan metode                          the transaction is recognised at book value using
                         penyatuan kepemilikan.                                           the pooling interest method.


                                                                        93
1160 PT Bank Mandiri (Persero) Tbk
Page 654
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     d.   Prinsip-prinsip konsolidasian (lanjutan)                     d.    Principles of consolidation (continued)

          Perubahan dalam bagian kepemilikan Bank pada                       Changes in the Bank’s ownership interest in
          Entitas Anak yang tidak mengakibatkan                              Subsidiaries that do not result in a loss of control
          hilangnya pengendalian dicatat sebagai transaksi                   are accounted for as an equity transaction, in this
          ekuitas, dalam hal ini transaksi dengan pemilik                    case a transaction with owners in their capacity as
          dalam kapasitasnya sebagai pemilik. Sehingga                       owners. Any difference between the amount of the
          setiap perbedaan antara jumlah kepentingan                         adjusted non-controlling interest and the fair value
          nonpengendali disesuaikan dan nilai wajar                          of the consideration paid or received shall be
          imbalan yang diberikan atau diterima diakui                        recognised directly in equity and attributable to the
          secara langsung dalam ekuitas dan diatribusikan                    owners of the parent.
          pada pemilik entitas induk.

          Entitas yang menerima/melepas bisnis, dalam                        The entity that accepts/releases a business in a
          kombinasi/pelepasan bisnis entitas sepengendali,                   combination/separation of business amongst
          mengakui selisih antara jumlah imbalan yang                        entities under common control, shall recognise the
          dialihkan/diterima dan jumlah tercatat dari setiap                 difference between benefits being transferred or
          transaksi kombinasi bisnis sebagai komponen                        received and the recorded amount of every
          ekuitas dan menyajikannya dalam pos tambahan                       business combination transaction as equity and
          modal disetor/agio saham.                                          present it under additional paid-in capital/share
                                                                             premium.

          Berdasarkan PSAK 38 (Revisi 2012), unsur-                          Based on SFAS No. 38 (Revised 2012), the
          unsur laporan keuangan dari entitas yang                           elements of the financial statements of the m
          bergabung, untuk periode terjadinya kombinasi                      entities, for the period in which the business
          bisnis entitas sepengendali dan untuk periode                      combination merged entities under common control
          komparatif sajian, disajikan sedemikian rupa                       occurred and for the comparative period presented,
          seolah-olah penggabungan tersebut telah terjadi                    are presented in such a way as if the combination
          sejak awal periode entitas yang bergabung dalam                    had occurred since the beginning of the period
          sepengendalian.                                                    when the entities were under common control.

     e.   Transaksi dan saldo dalam mata uang asing                     e.   Foreign currency transactions and balances

          Entitas Anak dan kantor cabang luar negeri                         Subsidiaries and overseas branches

          Bank     Mandiri    menyelenggarakan     catatan                   Bank Mandiri maintains its accounting records in
          akuntansinya dalam mata uang Rupiah. Untuk                         Indonesian Rupiah. For consolidation purposes,
          tujuan konsolidasian, laporan keuangan dalam                       the financial statement of the overseas branches
          mata uang asing milik cabang dan Entitas Anak                      and overseas Subsidiaries of Bank Mandiri
          luar negeri Bank Mandiri dijabarkan ke dalam                       denominated in foreign currencies are translated
          mata uang Rupiah dengan dasar kurs Reuters                         into Rupiah using the Reuters exchange rate for
          untuk kurs sebelum 17 Oktober 2022 dan kurs                        exchange rates before 17 October 2022 and the
          Refinitiv Eikon untuk kurs setelah 17 Oktober                      Refinitiv Eikon exchange rate for exchange rates
          2022 sebagai berikut:                                              after 17 October 2022 as follows:
          (1) Aset dan liabilitas, komitmen dan kontinjensi                  (1) Assets and liabilities, commitments and
               - menggunakan kurs spot pada tanggal                               contingencies - using the spot rates at the
               laporan posisi keuangan konsolidasian.                             consolidated statement of financial position
                                                                                  date.
          (2) Pendapatan, beban, laba dan rugi -                             (2) Revenues, expenses, income and losses -
              menggunakan kurs tengah rata-rata yang                              using the average middle rates during each
              berlaku pada bulan terjadinya transaksi.                            month when the transaction occurs.
          (3) Akun ekuitas - menggunakan kurs historis                       (3) Shareholders’ equity accounts - using
              pada tanggal transaksi.                                             historical rates on the date of transaction.
          (4) Laporan arus kas - menggunakan kurs spot                       (4) Statement of cash flows - using the spot rates
              pada tanggal laporan posisi keuangan                                at the reporting date, except for profit and loss
              konsolidasian, kecuali akun-akun laba rugi                          statement balances which are translated using
              menggunakan kurs tengah rata-rata dan                               the average middle rates and shareholders’
              unsur-unsur ekuitas menggunakan kurs                                equity balances which are translated using
              historis.                                                           historical rates.

          Selisih yang timbul dari proses penjabaran                         The differences arising from the translation
          laporan keuangan tersebut disajikan sebagai                        adjustment are presented as “Differences arising
          “Selisih kurs karena penjabaran laporan                            from the translation of financial statements” in
          keuangan dalam mata uang asing” pada                               foreign currencies under the shareholders’ equity
          kelompok ekuitas dalam laporan posisi keuangan                     section in the consolidated statement of financial
          konsolidasian.                                                     position.


                                                        94
                                                                                                           ANNUAL REPORT 2023         1161
Page 655
            MAIN                        MANAGEMENT                        COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                            ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    e.   Transaksi dan saldo dalam mata uang asing                    e.   Foreign currency transactions and balances
                         (lanjutan)                                                        (continued)

                         Transaksi dan saldo dalam mata uang asing                         Transactions and balances in foreign currencies

                         Transaksi dalam mata uang asing dicatat ke                        Transactions in foreign currencies are recorded
                         dalam Rupiah menggunakan kurs pada saat                           into Rupiah by using rates on the date of the
                         terjadinya transaksi. Pada tanggal laporan posisi                 transactions. At consolidated statement of financial
                         keuangan konsolidasian, semua aset dan                            position date, all foreign currencies monetary
                         liabilitas moneter dalam mata uang asing                          assets and liabilities are translated into Rupiah
                         dijabarkan ke dalam mata uang Rupiah dengan                       using the Revinitif Eikon spot rates at 3.00 p.m.
                         menggunakan kurs spot Revinitif Eikon pada                        WIB (Western Indonesian Time) on 31 December
                         pukul 15.00 WIB untuk tanggal 31 Desember                         2023 and 2022. The resulting gains or losses are
                         2023 dan 2022. Keuntungan atau kerugian yang                      credited or charged to the current year’s
                         timbul dibebankan pada laporan laba rugi dan                      consolidated statement of profit or loss and other
                         penghasilan komprehensif lain konsolidasian                       comprehensive income.
                         tahun berjalan.

                         Kurs yang digunakan untuk menjabarkan mata                        The exchange rates used against the Rupiah at the
                         uang asing ke dalam Rupiah pada tanggal                           dates of the consolidated statement of financial
                         laporan posisi keuangan konsolidasian adalah                      position are as follows (amounts in full Rupiah):
                         sebagai berikut (Rupiah penuh):

                                                                      2023                      2022

                         1 Pound Sterling Inggris                       19.626,56                18.786,09        Great Britain Pound Sterling 1
                         1 Euro Eropa                                   17.038,32                16.581,72                      European Euro 1
                         1 Dolar Amerika Serikat                        15.397,00                15.567,50               United States Dollar 1
                         100 Yen Jepang                                 10.888,00                11.781,00                    Japanese Yen 100
                         1 Dolar Australia                              10.520,77                10.577,88                    Australian Dollar 1
                         1 Dolar Hong Kong                               1.970.73                 1.996,55                   Hong Kong Dollar 1
                         1 Yuan China                                    2.170,06                 2.238,91                       Chinese Yuan 1
                         1 Dolar Singapura                              11.676,34                11.592,88                    Singapore Dollar 1

                         Mata uang asing lainnya yang tidak diungkapkan                    Other foreign currencies that are not disclosed as
                         di atas tidak dianggap signifikan dalam                           above is considered not material in the translation
                         penjabaran transaksi dalam mata uang asing                        of transaction in foreign currencies of the Bank and
                         Bank Mandiri dan Entitas Anak.                                    Subsidiaries.

                    f.   Transaksi dengan pihak-pihak berelasi                        f.   Transactions with related parties

                         Bank Mandiri dan Entitas Anak melakukan                           The Bank and Subsidiaries enter into transactions
                         transaksi dengan pihak-pihak berelasi seperti                     with parties which are defined as related parties in
                         yang didefinisikan dalam PSAK 7 tentang                           accordance with SFAS No. 7 regarding Related
                         “Pengungkapan Pihak-pihak Berelasi” dan                           Party Disclosures and capital market regulation
                         peraturan regulator pasar modal yaitu Peraturan                   No. VIII.G.7 regarding Financial Statements
                         No.     VIII.G.7   tentang   Penyajian      dan                   Presentation and Disclosure for Issuer or Public
                         Pengungkapan Laporan Keuangan Emiten atau                         Companies.
                         Perusahaan Publik.

                         Pihak berelasi adalah orang atau entitas yang                     A related party is a person or entity that is related
                         terkait dengan entitas yang menyiapkan laporan                    to the entity that prepares its financial statements
                         keuangannya (entitas pelapor). Yang termasuk                      (reporting entity). The related parties are as
                         pihak berelasi adalah sebagai berikut:                            follows:

                         1)   Orang yang:                                                  1)    A person who:
                              a) Memiliki         pengendalian         atau                      a) Has control or joint control over the
                                  pengendalian bersama atas entitas                                  reporting entity;
                                  pelapor;
                              b) Memiliki pengaruh signifikan atas entitas                       b)    Has significant influence over the
                                  pelapor; atau                                                        reporting entity; or
                              c) Merupakan personil manajemen kunci                              c)    The key management personnel of the
                                  entitas pelapor atau entitas induk entitas                           reporting entity or the parent of the
                                  pelapor.                                                             reporting entity.



                                                                        95
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Page 656
 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                 Financial
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                 Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                           2.     SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                             (continued)
     f.   Transaksi      dengan      pihak-pihak      berelasi              f.   Transactions with related parties (continued)
          (lanjutan)
          Pihak berelasi adalah orang atau entitas yang                          A related party is a person or entity that is related
          terkait dengan entitas yang menyiapkan laporan                         to the entity that prepares its financial statements
          keuangannya (entitas pelapor). Yang termasuk                           (reporting entity). The related parties are as follows
          pihak berelasi adalah sebagai berikut (lanjutan):                      (continued):
          2)   Suatu entitas berelasi dengan entitas pelapor                     2)   An entity is related to a reporting entity if any
               jika memenuhi salah satu hal sebagai                                   of the following are met:
               berikut:
               a) Entitas dan entitas pelapor adalah                                  a)   The entity and the reporting entity are
                   anggota dari kelompok usaha yang                                        members of the same group;
                   sama;
               b) Suatu entitas adalah entitas asosiasi                               b)   An entity is an associate or joint venture
                   atau ventura bersama dari entitas;                                      of the entity;
               c) Kedua entitas tersebut adalah ventura                               c)   Both entities are joint ventures from the
                   bersama dari pihak ketiga yang sama;                                    same third party;
               d) Suatu entitas adalah ventura bersama                                d)   An entity is a joint venture of a third entity
                   dari entitas ketiga dan entitas yang lain                               and the other entity is an associate of the
                   adalah entitas asosiasi dari entitas                                    third entity;
                   ketiga;
               e) Entitas tersebut adalah suatu program                               e)   The entity is a post-employment benefit
                   imbalan pasca kerja untuk imbalan kerja                                 plan for the benefits of employee either
                   dari salah satu entitas pelapor atau                                    from the reporting entity or an entity
                   entitas yang terkait dengan entitas                                     related to the reporting entity;
                   pelapor;
               f) Entitas      yang     dikendalikan    atau                          f)   The entity is controlled or jointly
                   dikendalikan bersama oleh orang yang                                    controlled by a person identified as
                   diidentifikasi sebagaimana dimaksud                                     referred to in point 1); or
                   dalam angka 1); atau
               g) Orang yang diidentifikasi sebagaimana                               g)   A person identified as referred to point 1)
                   dimaksud dalam angka 1) huruf a)                                        letter a) has significant influence over the
                   memiliki pengaruh signifikan atas entitas                               entity or the entity's key management
                   atau merupakan personil manajemen                                       personnel;
                   kunci entitas;
               h) Entitas yang dikendalikan, dikendalikan                             h)   The entity is controlled, jointly controlled
                   bersama atau dipengaruhi secara                                         or significantly influenced by the
                   signifikan oleh Pemerintah yaitu Menteri                                Government, which is the Minister of
                   Keuangan atau Pemerintah Daerah                                         Finance or the local governments which
                   yang merupakan pemegang saham dari                                      is the shareholder of the entity.
                   entitas.
          3)   Pihak yang bukan merupakan pihak berelasi                         3)   Parties which are not related parties are as
               adalah sebagai berikut:                                                follows:
               a) Dua entitas hanya karena mereka                                      a) Two entities simply because they have
                   memiliki     direktur     atau       personil                           the same director or key management
                   manajemen kunci yang sama atau                                          personnel     or     because       the  key
                   karena personil manajemen kunci dari                                    management personnel of one entity
                   satu entitas mempunyai pengaruh                                         have significant influence over the other
                   signifikan atas entitas lain;                                           entity;
               b) Dua venturer hanya karena mereka                                     b) Two joint venturers simply because they
                   mengendalikan bersama atas ventura                                      share joint control of a joint venture;
                   bersama;
               c) Penyandang dana, serikat dagang,                                    c)   Fund provider, trade unions, public
                   entitas     pelayanan         publik     dan                            service, and ministry and agencies of
                   departemen dan instansi pemerintah                                      government that does not control, jointly
                   yang         tidak         mengendalikan,                               control or have significant influence over
                   mengendalikan bersama atau memiliki                                     the reporting entity, solely in the
                   pengaruh signifikan atas entitas pelapor,                               execution of normal business with the
                   semata-mata        dalam       pelaksanaan                              entity;
                   urusan normal dengan entitas;
               d) Pelanggan, pemasok, pemegang hak                                    d)   Customers,       suppliers,   franchisors,
                   waralaba, distributor atau agen umum                                    distributors or general agent with whom
                   dengan siapa entitas mengadakan                                         an entity enter into transaction with
                   transaksi     usaha     dengan        volume                            significant volumes of business solely
                   signifikan,     semata-mata           karena                            because economic dependence due to
                   ketergantungan        ekonomis          yang                            circumstances
                   diakibatkan oleh keadaan.
               Semua transaksi signifikan dengan pihak-                          All significant transactions with related parties have
               pihak berelasi, telah diungkapkan pada                            been disclosed in Note 56.
               Catatan 56.


                                                            96
                                                                                                                ANNUAL REPORT 2023          1163
Page 657
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    g.   Kas dan setara kas                                         g.   Cash and cash equivalents

                         Kas (terutama terdiri dari kas di khasanah dan                  Cash (mainly consists of cash in vault and cash in
                         kas di ATM) dan setara kas mencakup kas, giro                   ATMs) and cash equivalents consist of cash,
                         pada Bank Indonesia, giro pada bank lain dan                    current accounts with Bank Indonesia, current
                         investasi jangka pendek likuid lainnya dengan                   accounts with other banks and other short term
                         jangka waktu jatuh tempo 3 (tiga) bulan atau                    liquid investments with original maturities of 3
                         kurang sejak tanggal perolehan.                                 (three) months or less since the date of acquisition.

                    h.   Giro pada Bank Indonesia dan bank lain                      h. Current accounts with Bank Indonesia and
                                                                                        other banks

                         Giro pada Bank Indonesia dan Bank lain                          Current accounts with Bank Indonesia and other
                         diklasifikasikan   sebagai   biaya     perolehan                banks are classified as amortised cost. Refer to
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                  Note 2c for the accounting policy of amortised cost.
                         akuntansi atas biaya perolehan diamortisasi.

                         Giro Wajib Minimum                                              The Minimum Statutory Reserve

                         Pemenuhan Giro Wajib Minimum (“GWM”)                            Fulfillment of the Minimum Statutory Reserves
                         mengacu pada Peraturan Bank Indonesia (PBI)                     (“GWM”) refers to Bank Indonesia Regulation (PBI)
                         No. 20/3/PBl/2018 tanggal 29 Maret 2018 tentang                 No. 20/3/PBl/2018 dated 29 March 2018
                         Giro Wajib Minimum dalam Rupiah dan Valuta                      concerning Statutory Reserves in Rupiah and
                         Asing bagi Bank Umum Konvensional, Bank                         Foreign Exchange for Conventional Commercial
                         Umum Syariah, dan Unit Usaha Syariah                            Banks, Sharia Commercial Banks, and Sharia
                         sebagaimana telah diubah sebanyak 4 (empat)                     Business Units as amended 4 (four) times through
                         kali melalui PBI No. 22/3/PBl/2020 tanggal                      PBI No.22/3/PBl/2020 dated 24 March 2020, PBI
                         24 Maret 2020, PBI No.22/10/PBl/2020 tanggal                    No. 22/10/PBl/2020 dated 28 July 2020, PBI No.
                         28 Juli 2020, PBI No. 23/16/PBI/2021 tanggal                    23/16/PBI/ 2021 dated 17 December 2021, and
                         17 Desember 2021, dan PBI No. 24/4/PBI/2022                     PBI No. 24/4/PBI/2022 dated 25 February 2022.
                         tanggal 25 Februari 2022.

                         PBI tersebut dijelaskan lebih lanjut melalui                    The PBI is further explained by the Regulation of
                         Peraturan Anggota Dewan Gubemur (PADG)                          Members of the Board of Governors (PADG)
                         No. 20/10/PADG/2018 tanggal 31 Mei 2018                         No. 20/10/PADG/2018 dated         31 May 2018
                         tentang Giro Wajib Minimum dalam Rupiah dan                     concerning Minimum Statutory Reserves in Rupiah
                         Valuta Asing bagi Bank Umum Konvensional,                       and    Foreign    Currency    for    Conventional
                         Bank Umum Syariah, dan Unit Usaha Syariah                       Commercial Banks, Sharia Commercial Banks and
                         sebagaimana telah diubah terakhir dengan                        Sharia Business Units as last amended by PADG
                         PADG No.24/3/PADG/2022 tanggal 1 Maret                          No.24/3/PADG/2022 dated 1 March 2022 which
                         2022, yang menyatakan bahwa pemenuhan                           states that the GWM in rupiah of Conventional
                         GWM dalam Rupiah Bank Umum Konvensional                         Commercial Banks (CCB) is set as follows:
                         (BUK) ditetapkan sebagai berikut:
                         a. Periode 1 Mei 2020 sampai dengan                             a.   Period 1 May 2020 to 28 February 2022 of
                              28 Februari 2022 sebesar 3,5% (tiga koma                        3.5% (three point five percent) with a daily
                              lima persen) dengan pemenuhan secara                            fulfillment of 0.5% (zero point five percent) and
                              harian sebesar 0,5% (nol koma lima persen)                      an average of 3% (three percent).
                              dan secara rata-rata sebesar 3% (tiga
                              persen).
                         b. Periode 1 Maret 2022 sampai dengan 31 Mei                    b.   Period 1 March 2022 to 31 May 2022 is 5%
                              2022 sebesar 5% (lima persen) dengan                            (five percent) with daily fulfillment of 0% (zero
                              pemenuhan secara harian sebesar 0% (nol                         percent) and an average of 5% (five percent).
                              persen) dan secara rata-rata sebesar 5%
                              (lima persen).
                         c. Periode 1 Juni 2022 sampai dengan 30 Juni                    c.   Period 1 June 2022 to 30 June 2022 is 6% (six
                              2022 sebesar 6% (enam persen) dengan                            percent) with daily fulfillment of 0% (zero
                              pemenuhan secara harian sebesar 0% (nol                         percent) and an average of 6% (six percent).
                              persen) dan secara rata-rata sebesar 6%
                              (enam persen).


                                                                      97
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 CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                             KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)                  2.    SUMMARY      OF     SIGNIFICANT             ACCOUNTING
                                                                    POLICIES (continued)

     h.   Giro pada Bank Indonesia dan bank lain                     h. Current accounts with Bank Indonesia and
          (lanjutan)                                                    other banks (continued)

          Giro Wajib Minimum (lanjutan)                                  The Minimum Statutory Reserve (continued)

          Pemenuhan GWM dalam Rupiah untuk Entitas                       Fulfillment of GWM in Rupiah for Subsidiaries that
          Anak yang menjalankan kegiatan usaha dengan                    carry out business activities with sharia principles
          prinsip syariah ditetapkan sebagai berikut:                    is determined as follows:
          a. Periode 1 Mei 2020 sampai dengan                            a. Period 1 May 2020 to 28 February 2022 is
               28 Februari 2022 sebesar 3,5% (tiga koma                        3.5% (three point five percent) with a daily
               lima persen) dengan pemenuhan secara                            fulfillment of 0.5% (zero point five percent) and
               harian sebesar 0,5% (nol koma lima persen)                      an average of 3% (three percent).
               dan secara rata-rata sebesar 3% (tiga
               persen).
          b. Periode 1 Maret 2022 sampai dengan 31 Mei                   b.   Period 1 March 2022 to 31 May 2022 is 4%
               2022 sebesar 4% (empat persen) dengan                          (four percent) with daily fulfillment of 0% (zero
               pemenuhan secara harian sebesar 0% (nol                        percent) and an average of 4% (four percent).
               persen) dan secara rata-rata sebesar 4%
               (empat persen).
          c. Periode 1 Juni 2022 sampai dengan 30 Juni                   c.   Period 1 June 2022 to 30 June 2022 is 4.5%
               2022 sebesar 4,5% (empat koma lima                             (four point five percent) with daily fulfillment of
               persen) dengan pemenuhan secara harian                         0% (zero percent) and an average of 4.5%
               sebesar 0% (nol persen) dan secara rata-                       (four point five percent).
               rata sebesar 4,5% (empat koma lima
               persen).

          Pemenuhan GWM dalam Rupiah baik untuk                          Fulfillment of GWM in Rupiah for both
          Bank Umum Komersial (BUK) maupun Entitas                       Conventional Commercial Banks (BUK) and
          Anak dihitung dengan membandingkan posisi                      Subsidiaries is calculated by comparing the
          saldo rekening Giro Rupiah pada Bank Indonesia                 balance position of Rupiah Demand Deposits
          Real Time Gross Settlement (BI-RTGS) dan                       accounts at Bank Indonesia Real Time Gross
          Bank Indonesia Fast Payment (BI-FAST)                          Settlement (BI-RTGS) and Bank Indonesia Fast
          terhadap rata-rata Dana Pihak Ketiga (DPK)                     Payment (BI-FAST) to the average Third Party
          dalam Rupiah masing-masing BUK dan Entitas                     Funds (TPF) in Rupiah for each BUK and
          Anak selama periode tertentu.                                  Subsidiary for a certain period.

          Pada tanggal 30 Juni 2022, telah diterbitkan                   On 30 June 2022, an extended PADG has been
          PADG lanjutan yaitu PADG No. 24/8/PADG/2022                    issued, namely PADG No. 24/8/PADG/2022
          tentang Peraturan Pelaksanaan Pemenuhan Giro                   regarding the implementation of Minimum Statutory
          Wajib Minimum dalam Rupiah dan Valuta Asing                    Reserves in Rupiah and Foreign Currency for
          bagi Bank Umum Konvensional, Bank Umum                         Conventional     Commercial       Banks,  Sharia
          Syariah, dan Unit Usaha Syariah sebagaimana                    Commercial Banks and Sharia Business Units, as
          telah diubah terakhir dengan PADG No. 12 tahun                 last amended by PADG No. 12 year 2023. Upon
          2023. Pada saat PADG No. 24/8/PADG/2022                        the effective date of PADG No. 24/8/PADG/22,
          tersebut        berlaku,      maka      PADG                   PADG No. 20/10/PADG/2018 and its amendments
          No. 20/10/PADG/2018 beserta perubahannya                       are revoked and declared invalid.
          dicabut dan dinyatakan tidak berlaku.




                                                       98
                                                                                                         ANNUAL REPORT 2023         1165
Page 659
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)                   2.    SUMMARY      OF     SIGNIFICANT           ACCOUNTING
                                                                                    POLICIES (continued)

                    h.   Giro pada Bank Indonesia dan bank lain                      h. Current accounts with Bank Indonesia and
                         (lanjutan)                                                     other banks (continued)

                         Giro Wajib Minimum (lanjutan)                                   The Minimum Statutory Reserve (continued)

                         PADG     baru    tersebut   mengatur    bahwa                   The new PADG regulates that the fulfillment of
                         pemenuhan GWM dalam Rupiah Bank Umum                            Minimum Statutory Reserves in Rupiah for
                         Konvensional (BUK) ditetapkan sebagai berikut:                  Conventional Commercial Banks (BUK) is
                         a. Secara harian sebesar 0% (nol persen); dan                   determined as follows:
                         b. Secara rata-rata untuk:                                      a. On a daily basis of 0% (zero percent); and
                            1) Periode 1 Juli 2022 sampai dengan                         b. On average for:
                                 31 Agustus 2022 sebesar 7,5% (tujuh                        1) Period 1 July 2022 to 31 August 2022 of
                                 koma lima persen); dan                                        7.5% (seven point five percent); and
                            2) Periode 1 September 2022 dan                                 2) Period 1 September 2022 onwards of 9%
                                 seterusnya sebesar 9% (sembilan                               (nine percent).
                                 persen).

                         GWM dalam Rupiah untuk Entitas Anak yang                        GWM in Rupiah for Subsidiaries that carry out
                         menjalankan kegiatan usaha dengan prinsip                       business activities with sharia principles must be
                         syariah wajib dipenuhi sebesar:                                 met as follows:
                         a. Secara harian sebesar 0% (nol persen); dan                   a. On a daily basis of 0% (zero percent); and
                         b. Secara rata-rata untuk:                                      b. On average for:
                              1) Periode 1 Juli 2022 sampai dengan 31                        1) Period 1 July 2022 to 31 August 2022 of
                                  Agustus 2022 sebesar 6% (enam                                   6% (six percent); and
                                  persen); dan
                              2) Periode 1 September 2022 dan                                 2)   Period 1 September 2022 onwards of
                                  seterusnya sebesar 7,5% (tujuh koma                              7.5% (seven point five percent).
                                  lima persen).

                         Selain itu, Bank Indonesia melakukan penguatan                  In addition, Bank Indonesia is strengthening
                         kebijakan untuk mendorong pertumbuhan                           policies to encourage economic growth through
                         ekonomi melalui ketentuan insentif GWM dalam                    regulations of GWM incentives in Rupiah as stated
                         Rupiah yang dituangkan dalam PBI No. 11 tahun                   in PBI No. 11 year 2023 dated 18 September 2023
                         2023 tanggal 18 September 2023 tentang                          regarding Incentives for Banks Providing Provision
                         Kebijakan Insentif Likuiditas Makroprudensial,                  of Funds for Certain and Inclusive Economic
                         sebagaimana diatur lebih lanjut melalui PADG                    Activities, as further stipulated through PADG
                         Nomor 11 tahun 2023 tanggal 27 September                        No. 11 year 2023 dated 27 September 2023
                         2023 tentang Peraturan Pelaksanan Kebijakan                     regarding Implementation Regulation of Incentives
                         Insentif    Likuiditas   Makroprudensial.   Bank                Policy of Macroprudential Liquidity. Bank Indonesia
                         Indonesia      memberikan    Kebijakan    Insentif              provides      GWM        Macroprudential     Liquidity
                         Likuiditas Makroprudensial (KLM) GWM dalam                      Incentives Policy (KLM) in Rupiah to banks that
                         Rupiah      kepada     bank   yang    melakukan                 provide funds for certain and inclusive economic
                         penyediaan dana untuk kegiatan ekonomi                          activities including: (a) granting loans or financing
                         meliputi: (a) pemberian kredit atau pembiayaan                  to priority sectors and MSMEs which determined
                         kepada sektor tertentu yang ditetapkan Bank                     by Bank Indonesia; (b) granting inclusive loans or
                         Indonesia; (b) pemberian kredit atau pembiayaan                 financing based on achievement of the
                         inklusif     berdasarkan     pencapaian     rasio               Macroprudential Inclusive Financing Ratio (RPIM);
                         pembiayaan inklusif makroprudensial (RPIM);                     and/or (c) granting loans or financing to micro ultra
                         (c) pemberian kredit atau pembiayaan kepada                     business (UMi); (d) granting sustainable loans or
                         usaha ultra mikro (UMi); (d) pemberian kredit                   financing; (e) other financing determined by Bank
                         atau pembiayaan berwawasan lingkungan;                          Indonesia.
                         (e) pembiayaan lainnya yang ditetapkan Bank
                         Indonesia.

                         Besaran KLM ditetapkan paling tinggi sebesar                    The KLM amount is set at a maximum of 4% (four
                         4% (empat persen).                                              percent)




                                                                       99
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 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)                     2.    SUMMARY      OF     SIGNIFICANT           ACCOUNTING
                                                                       POLICIES (continued)

     h.   Giro pada Bank Indonesia dan bank lain                        h. Current accounts with Bank Indonesia and
          (lanjutan)                                                       other banks (continued)

          Penyangga Likuiditas Makroprudensial                              Macroprudential Liquidity Buffer

          Penyangga        Likuiditas    Makroprudensial,                   Macroprudential Liquidity Buffer, will be mentioned
          selanjutnya disebut PLM, adalah cadangan                          as MLB is a minimum statutory reserve which
          likuiditas minimum dalam Rupiah yang wajib                        should be maintain in Rupiah by Conventional
          dipelihara oleh BUK dalam bentuk surat berharga                   Commercial Bank in the form of securities that met
          yang memenuhi persyaratan tertentu, yang                          certain requirements and the amount will be
          besarnya ditetapkan oleh Bank Indonesia                           determined by Bank Indonesia in certain
          sebesar persentase tertentu dari DPK BUK                          percentage of Conventional Commercial Bank
          dalam Rupiah. Sedangkan bagi BUS, Penyangga                       Third Party Fund in Rupiah. For Sharia
          Likuiditas    Makroprudensial  Syariah    (PLM                    Conventional Bank Macroprudential Liquidity buffer
          Syariah) adalah cadangan likuiditas minimum                       (MLB Sharia) is minimum statutory reserve which
          dalam Rupiah yang wajib dipelihara oleh BUS                       should be maintain by Sharia Commercial Bank in
          dalam bentuk surat berharga syariah yang                          the form of sharia securities that met certain
          memenuhi persyaratan tertentu, yang besarnya                      requirements and the amount will be determined
          ditetapkan oleh Bank Indonesia sebesar                            by Bank Indonesia in certain percentage of sharia
          persentase tertentu dari DPK BUS dalam Rupiah.                    commercial bank’s Third Party Funds in Rupiah.

          Pemenuhan       PLM      mengacu      pada     PBI                The requirement of latest MLB refers to PBI
          No. 20/4/PBl/2018 tanggal 29 Maret 2018 tentang                   No. 20/4/PBl/2018 dated 29 March 2018
          Rasio     lntermediasi    Makroprudensial      dan                concerning Macroprudential lntermediation Ratio
          Penyangga Likuiditas Makroprudensial bagi Bank                    and    Macroprudential     Liquidity   Buffer     for
          Umum Konvensional, Bank Umum Syariah, dan                         Conventional      Commercial       Bank,     Sharia
          Unit Usaha Syariah sebagaimana diubah terakhir                    Commercial Banks and Sharia Business Units as
          dengan PBI No. 24/16/PBI/2022 tanggal                             last amended by PBI No. 24/16/PBI/2022 dated
          31 Oktober 2022 tentang Perubahan Keempat                         31 October 2022 concerning Macroprudential
          Atas    Peraturan    Bank      Indonesia    Nomor                 lntermediation Ratio and Macroprudential Liquidity
          20/4/PBI/2018 Tentang Rasio Intermediasi                          Buffer for Conventional Commercial Bank, Sharia
          Makroprudensial Dan Penyangga Likuiditas                          Commercial Banks and Sharia Business Units. The
          Makroprudensial Bagi Bank Umum Konvensional,                      PBI is further explained through PADG
          Bank Umum Syariah, Dan Unit Usaha Syariah.                        No. 21/22/PADG/2019 dated 28 November 2019,
          PBI tersebut dijelaskan lebih lanjut melalui PADG                 as amended 7 (seven) times to PADG
          No. 21/22/PADG/2019 tanggal 28 November                           No. 22/11/PADG/2020 dated 29 April 2020, PADG
          2019, sebagaimana telah diubah sebanyak                           No. 22/30/PADG/ 2020 dated 5 October 2020,
          7      (tujuh)      kali      menjadi        PADG                 PADG No. 23/7/PADG/2021 dated 26 April 2021,
          No.22/11/PADG/2020 tanggal 29 April 2020,                         PADG No. 23/31/PADG/2021 dated 31 December
          PADG No. 22/30/PADG/2020 tanggal 5 Oktober                        2021, PADG No. 24/14/PADG/2022 dated
          2020, PADG No. 23/7/PADG/2021 tanggal                             31 October 2022, PADG No. 10 of 2023 dated
          26 April 2021, PADG No. 23/31/PADG/2021                           14 September 2023, and PADG No. 18 of 2023,
          tanggal      31    Desember       2021,      PADG                 whereby the MLB is determined at 5% (five
          No. 24/14/PADG/2022 tanggal 31 Oktober 2022,                      percent) of BUK deposits in Indonesian Rupiah,
          PADG Nomor 10 Tahun 2023 tanggal                                  and for subsidiaries engaging in business activities
          14 September 2023 , dan PADG No. 18 Tahun                         based on Sharia principles, the MLB amount is set
          2023 dimana besaran PLM ditentukan sebesar                        at 3.5% (three point five percent) of the
          5% (lima persen) dari DPK BUK dalam Rupiah                        Subsidiary's third party funds in Indonesian
          dan besaran PLM untuk Entitas Anak yang                           Rupiah.
          menjalankan kegiatan usaha dengan prinsip
          syariah adalah sebesar 3,5% (tiga koma lima
          persen) dari DPK Entitas Anak dalam Rupiah.




                                                       100
                                                                                                          ANNUAL REPORT 2023        1167
Page 661
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)                   2.    SUMMARY      OF     SIGNIFICANT          ACCOUNTING
                                                                                    POLICIES (continued)

                    h.   Giro pada Bank Indonesia dan bank lain                      h. Current accounts with Bank Indonesia and
                         (lanjutan)                                                     other banks (continued)

                         Rasio Intermediasi Makroprudensial                              Macroprudential Intermediation Ratio

                         Rasio lntermediasi Makroprudensial (RIM)                        The Macroprudential Intermediation Ratio (RIM)
                         dahulu disebut sebagai Loan to Funding Ratio                    was formerly known as the Loan to Funding Ratio
                         (LFR). Berdasarkan PBI No. 20/4/PBl/2018                        (LFR). Based on PBI No. 20/4/PBl/2018 dated
                         tanggal 29 Maret 2018 tentang Rasio                             29 March 2018 concerning Macroprudential
                         lntermediasi Makroprudensial dan Penyangga                      Intermediation Ratio and Macroprudential Liquidity
                         Likuiditas Makroprudensial bagi Bank Umum                       Buffer for Conventional Commercial Banks, Sharia
                         Konvensional, Bank Umum Syariah, dan Unit                       Commercial Banks and Sharia Business Units the
                         Usaha Syariah, penyebutan LFR berubah                           term     LFR     changes   to    Macroprudential
                         menjadi Rasio lntermediasi Makroprudensial                      Intermediation Ratio (RIM) with the obligation to
                         (RIM) dengan kewajiban pemenuhan Giro RIM                       fulfill RIM's current account effective on
                         mulai berlaku pada tanggal 16 Juli 2018.                        16 July 2018. The regulation has been amended
                         Peraturan    tersebut    telah   disempurnakan                  4 (four) times to become PBI No. 21/12/PBl/2019
                         sebanyak 4 (empat) kali menjadi PBI No.                         dated 25 November 2019, PBI No. 22/17/PBI/2020
                         21/12/PBl/2019 tanggal 25 November 2019,                        dated       30     September      2020,       PBI
                         PBI       No.       22/17/PBI/2020      tanggal                 No. 23/17/PBI/2021 dated 17 December 2021 and
                         30 September 2020, PBI No. 23/17/PBI/2021                       PBI No. 24/16/PBI/2022 dated 31 October 2022.
                         tanggal 17 Desember 2021, dan PBI                               The PBI is further explained through PADG
                         No. 24/16/PBI/2022 tanggal 31 Oktober 2022.                     No. 21/22/PADG/2019 dated 28 November 2019,
                         PBI tersebut dijelaskan lebih lanjut melalui                    as amended 5 (five) times to PADG
                         PADG       No.     21/22/PADG/2019      tanggal                 No. 22/11/PADG/2020 dated 29 April 2020, PADG
                         28 November 2019, sebagaimana telah diubah                      No. 22/30/PADG/2020 dated 5 October 2020,
                         sebanyak 5 (lima) kali menjadi PADG                             PADG No. 23/7/PADG/2021 dated 26 April 2021,
                         No. 22/11/PADG/2020 tanggal 29 April 2020,                      PADG No. 23/31/PADG/2021 dated 31 December
                         PADG No. 22/30/PADG/2020 tanggal 5 Oktober                      2021 and PADG No. 24/14/PADG/2022 dated
                         2020, PADG No. 23/7/PADG/2021 tanggal                           31 October 2022.
                         26 April 2021, PADG No.23/31/PADG/2021
                         tanggal 31 Desember 2021, dan PADG
                         No. 24/14/PADG/2022 tanggal 31 Oktober
                         2022.

                         Berdasarkan Peraturan tersebut, RIM adalah                      Based on those Regulations, RIM is the ratio of the
                         rasio hasil perbandingan antara:                                results of the comparison of:
                         a. Kredit yang diberikan kepada pihak ketiga                    a. Loans to third party in Rupiah and foreign
                              dalam Rupiah dan Valuta Asing; dan                             currencies; and
                         b. Surat berharga korporasi dalam Rupiah dan                    b. Corporate marketable securities in Rupiah and
                              Valuta Asing yang memenuhi persyaratan                         foreign currencies which meet certain
                              tertentu yang dimiliki Bank, terhadap:                         requirements over:
                              a. DPK bank dalam bentuk giro, tabungan                        a. TPF bank in terms of current account,
                                   dan simpanan berjangka/deposito dalam                           saving account and time deposits in
                                   Rupiah dan Valuta asing, tidak termasuk                         rupiah and foreign currencies excluding
                                   dana antarbank;                                                 interbank fund;
                              b. Surat berharga dalam Rupiah dan                             b. Marketable securities issued by the bank
                                   Valuta    Asing      yang      memenuhi                         in rupiah and foreign currencies which
                                   persyaratan tertentu, yang diterbitkan                          meet certain requirement which issued for
                                   oleh Bank untuk memperoleh sumber                               funding; and
                                   pendanaan; dan
                              c. Pinjaman yang diterima dalam Rupiah                         c.   Fund borrowing in Rupiah and foreign
                                   dan Valuta Asing yang memenuhi                                 currencies     which     met     certain
                                   persyaratan tertentu, yang diterima oleh                       requirements that were received by CCB
                                   BUK     untuk     memperoleh      sumber                       for funding.
                                   pendanaan.




                                                                      101
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 CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                        Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)                  2.    SUMMARY      OF     SIGNIFICANT           ACCOUNTING
                                                                    POLICIES (continued)
     h.   Giro pada Bank Indonesia dan bank lain                     h. Current accounts with Bank Indonesia and
          (lanjutan)                                                    other banks (continued)

          Giro Rasio Intermediasi Makroprudensial                        Macroprudential    Intermediation    Ratio   Current
                                                                         Accounts
          Giro atas pemenuhan RIM yang selanjutnya                       Current accounts for RIM fulfillment, hereinafter
          disebut Giro RIM adalah saldo pada rekening                    referred to as RIM Current Account, are the current
          Giro Rupiah pada Bank Indonesia Real Time                      accounts balance in Rupiah current accounts.
          Gross Settlement (BI-RTGS) dan dana Bank                       Account at Bank Indonesia Real Time Gross
          Indonesia Fast Payment (BI-Fast) yang wajib                    Settlement (BI-RTGS) and Bank Indonesia Fast
          dipelihara oleh Bank. Dalam hal RIM berada                     Payment (BI-FAST) which must be maintained by
          dalam kisaran target RIM maka Giro RIM                         the Bank. In the event that RIM falls within RIM's
          ditetapkan sebesar 0% (nol persen) dari DPK                    target range, RIM's Current Account is set at 0%
          dalam Rupiah. Sedangkan apabila RIM berada di                  (zero percent) of TPF in rupiah. Meanwhile, if RIM
          luar kisaran target RIM, maka Giro RIM                         is outside the range of RIM's target, RIM's current
          ditetapkan sebesar hasil perkalian antara                      accounts are determined as the result of the
          Parameter Disinsentif Bawah atau Parameter                     multiplication of the Lower Disincentive Parameter
          Disinsentif Atas, selisih antara RIM dan Target                or Upper Disincentive Parameter, the difference
          RIM, serta DPK dalam Rupiah.                                   between RIM and RIM's target, and TPF in rupiah.
          Besaran dan parameter yang digunakan dalam                     The amounts and parameters used in fulfilling RIM
          pemenuhan Giro RIM ditetapkan:                                 Current Account are determined as follows:
          a. Batas bawah Target RIM sebesar 84%                          a. The lower limit of RIM's Target of 84% (eighty
              (delapan puluh empat persen);                                  four percent);
          b. Batas atas Target RIM sebesar 94%                           b. The upper limit of RIM's Target of 94% (ninety
              (sembilan puluh empat persen);                                 four percent);
          c. Kewajiban Penyediaan Modal Minimum                          c. Minimum Capital Adequacy Requirement
              (KPMM) lnsentif sebesar 14% (empat belas                       (CAR) Incentive of 14% (fourteen percent);
              persen);
          d. Parameter Disinsentif Bawah ditetapkan:                     d.   The Lower Disincentive Parameters are
                                                                              defined as follows:
              1. Sebesar 0 (nol), jika BUK memiliki rasio                     1. Amounting to 0 (zero), if the BUK has
                 kredit bermasalah secara bruto lebih                              gross non-performing loan ratio greater
                 besar dari atau sama dengan 5% (lima                              than or equal to 5% (five percent);
                 persen);
              2. Sebesar 0 (nol), jika BUK memiliki:                          2.   Amounting to 0 (zero), if the BUK has:
                 a) Rasio kredit bermasalah secara                                 a) Gross non-performing loan ratio is
                     bruto lebih kecil dari 5% (lima                                  less than 5% (five percent); and
                     persen); dan
                 b) KPMM lebih kecil dari atau sama                                b) CAR is greater than or equal to
                     dengan KPMM lnsentif;                                            Incentive CAR

             3. Sebesar 0,1 (nol koma satu), jika BUK                         3.   Amounting to 0.1 (zero point one), if the
                 memiliki:                                                         CCB has:
                 a) Rasio kredit bermasalah secara                                 a) Gross non-performing loan ratio is
                     bruto lebih kecil dari 5% (lima                                  less than 5% (five percent); and
                     persen); dan
                 b) KPMM lebih besar dari KPMM                                     b)   CAR is greater than incentive CAR
                     lnsentif dan lebih kecil dari atau                                 and less than or equal to 19%
                     sama dengan 19% (sembilan belas                                    (nineteen percent); and
                     persen); dan
             4. Sebesar 0,15 (nol koma satu lima), jika                       4.   Amounting to 0.15 (zero point one five), if
                 BUK memiliki:                                                     CCB has:
                 a) Rasio kredit bermasalah secara                                 a) Gross Non-Performing Loans Ratio is
                     bruto lebih kecil dari 5% (lima                                  less than 5% (five percent); and
                     persen); dan
                 b) KPMM lebih besar dari 19%                                      b) CAR is greater than 19% (nineteen
                     (sembilan belas persen); dan                                     percent); and
          e. Parameter Disinsentif Atas ditetapkan:                      e.   Upper    Disincentive    Parameters   are
                                                                              determined as follows:
              1.   Sebesar 0 (nol), jika BUK memiliki                         1. Amounting to 0 (zero), if the Bank has
                   KPMM lebih besar dari KPMM lnsentif;                           CAR greater than or equal to Incentive
                   atau                                                           CAR; or
              2.   Sebesar 0 (nol), jika BUK memiliki                         2. Amounting to 0 (zero), if the Bank has
                   KPMM lebih kecil dari atau sama                                CAR smaller than Incentive CAR.
                   dengan KPMM lnsentif.




                                                      102
                                                                                                       ANNUAL REPORT 2023        1169
Page 663
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                       (continued)

                    i.   Penempatan pada Bank Indonesia dan bank                     i.    Placements with Bank Indonesia and other
                         lain                                                              banks

                         Penempatan pada Bank Indonesia dan bank lain                      Placements with Bank Indonesia and other banks
                         merupakan penempatan dana dalam bentuk                            represent placements in the form of Bank
                         Deposit Facility (DF), Fasilitas Simpanan Bank                    Indonesia Deposit Facility, sharia FASBI (Fasilitas
                         Indonesia Syariah (FASBIS), Pasar Uang Antar                      Simpanan Bank Indonesia Syariah (FASBIS)),
                         Bank, Pasar Uang Antar Bank Syariah, deposito                     interbank call money, sharia interbank call money,
                         berjangka dan lain-lain.                                          time deposits and others.

                         Penempatan pada Bank Indonesia dan bank lain                      Placements with Bank Indonesia and other banks
                         disajikan sebesar biaya perolehan diamortisasi                    are stated at amortised cost using effective interest
                         dengan menggunakan suku bunga efektif                             rate less any allowance for impairment losses.
                         dikurangi dengan cadangan kerugian penurunan
                         nilai.

                         Sesuai dengan Peraturan Otoritas Jasa                             In accordance with Regulation of Financial
                         Keuangan (POJK) No. 40/POJK.03/2019 tanggal                       Services Authority (POJK) No. 40/POJK.03/2019
                         19 Desember 2019 tentang Penilaian Kualitas                       dated 19 December 2019 concerning the Quality
                         Aset Bank Umum, seluruh bentuk penempatan                         Assessment of Commercial Banks, all forms of
                         pada Bank Indonesia ditetapkan memiliki kualitas                  placements with Bank Indonesia are determined to
                         lancar.                                                           have current quality.

                         Penempatan pada Bank Indonesia dan bank lain                      Placements with Bank Indonesia and other banks
                         diklasifikasikan   sebagai   biaya     perolehan                  are classified as amortised cost. Refer to Note 2c
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                    for the accounting policy of amortised cost.
                         akuntansi atas biaya perolehan diamortisasi.

                    j.   Efek-efek                                                    j.   Marketable securities

                         Efek-efek yang dimiliki terdiri dari efek-efek yang               Marketable securities consist of securities traded in
                         diperdagangkan di pasar uang seperti Sertifikat                   the money market such as Certificates of Bank
                         Bank Indonesia (SBI), Sertifikat Bank Indonesia                   Indonesia (Sertifikat Bank Indonesia (SBI)), Sharia
                         Syariah (SBIS), Surat Perbendaharaan Negara                       Certificates of Bank Indonesia (Sertifikat Bank
                         (SPN), Negotiable Certificates of Deposits,                       Indonesia Syariah (SBIS)), Government Treasury
                         Medium Term Notes, Treasury Bills yang                            Bills (Surat Perbendaharaan Negara (SPN))
                         diterbitkan oleh pemerintah negara lain dan                       Negotiable Certificates of Deposits, Medium Term
                         Pemerintah Republik Indonesia, wesel ekspor,                      Notes, Treasury Bills issued by government of
                         efek-efek yang diperdagangkan di pasar modal                      other country and Government of Republic of
                         seperti unit reksadana, serta efek-efek yang                      Indonesia, export bills, securities traded on the
                         diperdagangkan di bursa efek seperti saham dan                    capital market such as mutual fund units and
                         obligasi, termasuk obligasi syariah perusahaan.                   securities traded on the stock exchanges such as
                                                                                           shares and bonds including sharia corporate
                                                                                           bonds.

                         Efek-efek diklasifikasikan sebagai aset keuangan                  Marketable securities are classified as financial
                         dalam kelompok diukur pada nilai wajar melalui                    assets at fair value through profit or loss, fair value
                         laba rugi, nilai wajar melalui penghasilan                        through other comprehensive income, and at
                         komprehensif lain, dan biaya perolehan                            amortised cost. Refer to Note 2c for the accounting
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                    policy of financial assets through fair value through
                         akuntansi atas aset keuangan dalam kelompok                       profit or loss, fair value through other
                         diukur pada nilai wajar melalui laba rugi, nilai                  comprehensive income, and at amortised cost.
                         wajar melalui penghasilan komprehensif lain, dan
                         biaya perolehan diamortisasi.

                         Investasi dalam unit reksadana dinyatakan                         Investments in mutual funds units are stated at
                         sebesar nilai pasar sesuai nilai aset bersih dari                 market value, in accordance with the net assets
                         reksadana pada tanggal laporan posisi keuangan                    value of mutual funds at the date of the
                         konsolidasian.                                                    consolidated statement of financial position.


                                                                       103
1170 PT Bank Mandiri (Persero) Tbk
Page 664
 CORPORATE                   ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                              Financial
 GOVERNANCE                  & PRACTICES                        RESPONSIBILITY                              KEUANGAN   2023
                                                                                                              Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     j.   Efek-efek (lanjutan)                                           j.   Marketable securities (continued)

          Untuk efek-efek yang diperdagangkan di pasar                        Marketable securities which are traded in
          keuangan yang terorganisasi, nilai wajar tersebut                   organised financial markets, the fair value is
          umumnya ditentukan dengan mengacu pada                              generally determined by reference to quoted
          harga pasar kuotasian yang terjadi di bursa efek                    market prices by the stock exchanges at the close
          pada akhir hari pada tanggal laporan posisi                         of business on the consolidated statement of
          keuangan konsolidasian. Untuk efek-efek yang                        financial position date. For marketable securities
          tidak mempunyai harga pasar, estimasi atas nilai                    with no quoted market price, a reasonable estimate
          wajar efek-efek ditetapkan dengan mengacu                           of the fair value is determined by reference to the
          pada nilai wajar instrumen lain yang substansinya                   current market value of another instrument which
          sama atau dihitung berdasarkan arus kas yang                        substantially has the same characteristic or
          diharapkan terhadap aset bersih efek-efek                           calculated based on the expected cash flows of the
          tersebut. Penurunan nilai wajar permanen atas                       underlying net asset of the marketable securities.
          efek-efek untuk biaya perolehan diamortisasi dan                    Any permanent impairment in the fair value of
          nilai wajar melalui penghasilan komprehensif lain                   marketable securities classified as amortised cost
          dibebankan pada laporan laba rugi dan                               and fair value through other comprehensive
          penghasilan komprehensif lain konsolidasian                         income is charged to current year’s consolidated
          periode berjalan.                                                   statement of profit or loss and other
                                                                              comprehensive income.

          Pemindahan efek ke klasifikasi dimiliki biaya                       Reclassification of marketable securities to
          perolehan diamortisasi dari klasifikasi nilai wajar                 amortised cost from fair value through other
          melalui penghasilan komprehensif lain dicatat                       comprehensive income classification is recorded at
          sebesar nilai wajarnya. Keuntungan atau                             fair value. Unrealised gains or losses are recorded
          kerugian yang belum direalisasi tetap dilaporkan                    in the equity section and will be amortised up to the
          dalam komponen ekuitas dan diamortisasi                             maturity date of the marketable securities using the
          dengan metode suku bunga efektif selama sisa                        effective interest rate method over the remaining
          umur efek tersebut ke laporan laba rugi dan                         tenor of marketable securities to consolidated
          penghasilan komprehensif lain konsolidasian.                        statement of profit or loss and other
                                                                              comprehensive income.

     k.   Obligasi pemerintah                                            k.   Government bonds

          Obligasi pemerintah adalah surat utang yang                         Government bonds represent bonds issued by the
          diterbitkan oleh Pemerintah Republik Indonesia.                     Government of the Republic of Indonesia.
          Obligasi pemerintah terdiri dari obligasi                           Government bonds consist of government bonds
          pemerintah yang diperoleh dalam rangka                              from the recapitalisation program and government
          program rekapitalisasi dan obligasi pemerintah                      bonds purchased from the market.
          yang dibeli dari pasar.

          Obligasi pemerintah diklasifikasikan sebagai aset                   Government bonds are classified as financial
          keuangan dalam kelompok diukur pada nilai                           assets at fair value through profit or loss, fair value
          wajar melalui laba rugi, nilai wajar melalui                        through other comprehensive income and at
          penghasilan komprehensif lain, dan biaya                            amortised cost. Refer to Note 2c for the accounting
          perolehan diamortisasi. Lihat Catatan 2c untuk                      policy of financial assets at fair value through profit
          kebijakan akuntansi atas aset keuangan dalam                        or loss, fair value through other comprehensive
          kelompok diukur pada nilai wajar melalui laba                       income and at amortised cost.
          rugi,    nilai  wajar     melalui     penghasilan
          komprehensif lain, dan biaya perolehan
          diamortisasi.

     l.   Tagihan lainnya - transaksi perdagangan                       l.    Other receivables - trade transactions

          Tagihan lainnya - transaksi perdagangan adalah                      Other receivables - trade transactions represent
          tagihan sebagai akibat dari perjanjian pemberian                    receivables resulting from contracts for trade-
          fasilitas perdagangan kepada debitur yang akan                      related facilities given to customers, which will be
          ditagih pada saat jatuh tempo.                                      reimbursed on maturity.

          Tagihan lainnya diklasifikasikan sebagai aset                       Other receivables - trade transactions are
          keuangan dalam kelompok biaya perolehan                             classified as financial assets at amortised cost.
          diamortisasi. Lihat Catatan 2c untuk kebijakan                      Refer to Note 2c for the accounting policy of
          akuntansi aset keuangan dalam kelompok biaya                        amortised cost.
          perolehan diamortisasi.


                                                        104
                                                                                                             ANNUAL REPORT 2023         1171
Page 665
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                       (continued)

                    m. Tagihan atas efek-efek yang dibeli dengan                      m. Securities purchased under agreements to
                       janji dijual kembali dan liabilitas atas efek-                    resell and securities sold under agreements to
                       efek yang dijual dengan janji dibeli kembali                      repurchase liabilities

                         Tagihan atas efek-efek yang dibeli dengan janji                   Securities purchased under agreements to resell
                         dijual kembali diklasifikasikan sebagai aset                      are classified as financial assets at amortised cost.
                         keuangan dalam kelompok biaya perolehan                           Refer to Note 2c for the accounting policy financial
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                    assets of amortised cost.
                         akuntansi atas aset keuangan dalam kelompok
                         biaya perolehan diamortisasi.

                         Tagihan atas efek-efek yang dibeli dengan janji                   Securities purchased under agreements to resale
                         dijual kembali disajikan sebagai liabilitas dalam                 are presented as assets in the consolidated
                         laporan posisi keuangan konsolidasian sebesar                     statement of financial position at the agreed resale
                         harga pembelian kembali yang disepakati                           price less unamortised prepaid interest and
                         dikurangi dengan bunga dibayar dimuka yang                        allowance for impairment losses. The difference
                         belum diamortisasi dan cadangan kerugian                          between the purchase price and the agreed resale
                         penurunan nilai. Selisih antara harga beli dan                    price is treated as deferred (unamortised) interest
                         harga jual kembali yang disepakati diperlakukan                   income and amortised as income over the period,
                         sebagai pendapatan bunga dibayar dimuka dan                       commencing from the acquisition date to the resale
                         diakui sebagai pendapatan bunga selama jangka                     date using the effective interest rate method.
                         waktu sejak efek-efek tersebut dibeli hingga dijual
                         kembali dengan menggunakan metode suku
                         bunga efektif.

                         Efek-efek yang dijual dengan janji untuk dibeli                   Securities sold under agreements to repurchase
                         kembali    diklasifikasikan  sebagai   liabilitas                 are classified as financial liabilities at amortised
                         keuangan yang diukur dengan biaya perolehan                       cost. Refer to Note 2c for the accounting policy for
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                    financial liabilities at amortised cost.
                         akuntansi atas liabilitas keuangan yang diukur
                         dengan biaya perolehan diamortisasi.

                         Entitas Anak mencatat transaksi reverse repo                      The Subsidiaries recognised the reverse repo
                         syariah mengacu ke PSAK 111 tentang                               sharia in accordance with SFAS No. 111 regarding
                         “Akuntansi Wa’d” yang diterapkan secara                           “Accounting Wa’d” which applied prospectively. At
                         prospektif. Pada saat pengakuan awal, Entitas                     initial recognition, Subsidiaries classified sharia
                         Anak mengklasifikasikan surat berharga syariah                    securities as measured at fair value through other
                         dalam kategori diukur pada nilai wajar melalui                    comprehensive income. Gains or losses arising
                         penghasilan komprehensif lain. Keuntungan atau                    from changes in fair value are recognised in other
                         kerugian dari perubahan nilai wajar diakui dalam                  comprehensive income.
                         penghasilan komprehensif lain.

                    n.   Tagihan derivatif dan liabilitas derivatif                   n.   Derivative receivables and derivative payables

                         Seluruh instrumen derivatif (termasuk transaksi                   All derivative instruments (including foreign
                         valuta asing untuk tujuan pendanaan dan                           currency transactions for funding and trading
                         perdagangan) dicatat dalam laporan posisi                         purposes) are recognised in the consolidated
                         keuangan konsolidasian berdasarkan nilai                          statement of financial position at their fair values.
                         wajarnya. Nilai wajar tersebut ditentukan                         Fair value is determined based on market value
                         berdasarkan harga pasar dengan menggunakan                        using Revinitif Eikon rate at reporting date or
                         kurs Revinitif Eikon pada tanggal laporan atau                    discounted cash flow method.
                         metode diskonto arus kas.

                         Tagihan derivatif disajikan sebesar keuntungan                    Derivative receivables are presented at the amount
                         yang belum direalisasi dari kontrak derivatif.                    of unrealised gain from derivative contracts.
                         Liabilitas derivatif disajikan sebesar kerugian                   Derivative payables are presented at the amount of
                         yang belum direalisasi dari kontrak derivatif.                    unrealised loss from derivative contracts.




                                                                       105
1172 PT Bank Mandiri (Persero) Tbk
Page 666
 CORPORATE                    ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                               Financial
 GOVERNANCE                   & PRACTICES                         RESPONSIBILITY                             KEUANGAN   2023
                                                                                                               Statements 2023


                                             PT BANK MANDIRI (PERSERO) Tbk.
                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)

     n.   Tagihan derivatif       dan    liabilitas   derivatif            n.   Derivative receivables and derivative payables
          (lanjutan)                                                            (continued)

          Keuntungan atau kerugian dari kontrak derivatif                       Gains or losses from derivative contracts are
          disajikan dalam laporan keuangan konsolidasian                        presented in the consolidated financial statements
          berdasarkan tujuan Bank atas transaksi yaitu                          based on its purpose designated upon acquisition,
          untuk (1) lindung nilai atas nilai wajar, (2) lindung                 for (1) fair value hedge, (2) cash flow hedge,
          nilai atas arus kas, (3) lindung nilai atas investasi                 (3) net investment in a foreign operation hedge,
          bersih pada kegiatan operasi luar negeri dan (4)                      and (4) trading instruments as follows:
          instrumen perdagangan, sebagai berikut:
          1. Keuntungan atau kerugian dari kontrak                              1.   Gain or loss on a derivative contract
                derivatif yang ditujukan dan memenuhi                                designated and qualified as a fair value
                syarat sebagai instrumen lindung nilai atas                          hedging instrument and the gain or loss
                nilai wajar dan keuntungan atau kerugian                             arising from the changes in fair value of
                atas perubahan nilai wajar aset dan liabilitas                       hedged assets and liabilities is recognised as
                yang dilindungi, diakui sebagai laba atau rugi                       gain or loss that can be set off one another
                yang dapat saling hapus dalam periode                                during the same accounting period/year. Any
                akuntansi yang sama. Setiap selisih yang                             difference representing hedge ineffectiveness
                terjadi        menunjukkan           terjadinya                      and directly recognised as gain or loss in
                ketidakefektifan lindung nilai dan secara                            current year.
                langsung diakui sebagai laba atau rugi tahun
                berjalan.
          2. Bagian efektif dari keuntungan atau kerugian                       2.   The effective portion arising from gain or loss
                atas kontrak derivatif yang ditujukan sebagai                        of derivative contracts designated as a cash
                lindung nilai atas arus kas dilaporkan                               flow hedge instruments is reported as other
                sebagai penghasilan komprehensif lain.                               comprehensive income. The hedge ineffective
                Bagian yang tidak efektif dari lindung nilai                         portion is recognised as a gain or loss in the
                dilaporkan sebagai laba atau rugi tahun                              current year.
                berjalan.
          3. Keuntungan atau kerugian dari kontrak                              3.   Gain or loss arising from derivative contract
                derivatif yang ditujukan sebagai lindung nilai                       that is designated as a net investment hedge
                atas investasi bersih pada kegiatan operasi                          in a foreign operation is reported as other
                luar negeri dilaporkan sebagai penghasilan                           comprehensive income, as long as the
                komprehensif lain, sepanjang transaksi                               transactions are effectively recognised as
                tersebut dianggap efektif sebagai transaksi                          hedge transactions.
                lindung nilai.
          4. Keuntungan atau kerugian dari kontrak                              4.   Gain or loss arising from derivative contract
                derivatif yang tidak ditujukan sebagai                               that is not designated as a hedging instrument
                instrumen lindung nilai (atau kontrak derivatif                      (or derivative contract that does not qualify as
                yang tidak memenuhi persyaratan sebagai                              a hedging instrument) is recognised as gain or
                instrumen lindung nilai) diakui sebagai laba                         loss in current year.
                atau rugi pada tahun berjalan.

          Tagihan derivatif diklasifikasikan sebagai aset                       Derivative receivables are classified as financial
          keuangan dalam kelompok diukur pada nilai                             assets at fair value through profit or loss,
          wajar melalui laba rugi, sedangkan liabilitas                         meanwhile derivative payables are classified as
          derivatif    diklasifikasikan  sebagai  liabilitas                    financial liabilities at fair value through profit or
          keuangan dalam kelompok diukur pada nilai                             loss. Refer to Note 2c for the accounting policy of
          wajar melalui laba rugi. Lihat Catatan 2c untuk                       financial assets and liabilities at fair value through
          kebijakan akuntansi untuk aset keuangan dan                           profit or loss.
          liabilitas keuangan dalam kelompok diukur pada
          nilai wajar melalui laba rugi.

     o.   Kredit  yang    diberikan          dan      piutang/            o.    Loans and sharia receivables/financing
          pembiayaan syariah

          Kredit yang diberikan adalah penyediaan uang                          Loans represent provision of cash or cash
          atau tagihan yang dapat disetarakan dengan kas,                       equivalent    receivables based       on     lending
          berdasarkan persetujuan atau kesepakatan                              agreements with borrowers, which the borrowers
          pinjam-meminjam      dengan      debitur   yang                       are required to repay their debts with interest after
          mewajibkan debitur untuk melunasi utang berikut                       a specified period, and matured trade finance
          bunganya setelah jangka waktu tertentu dan                            facilities which have not been settled within
          tagihan yang berasal dari transaksi perdagangan                       15 days.
          yang telah jatuh tempo yang belum diselesaikan
          dalam waktu 15 hari.



                                                          106
                                                                                                              ANNUAL REPORT 2023         1173
Page 667
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    o.   Kredit  yang    diberikan     dan       piutang/           o.   Loans     and      sharia      receivables/financing
                         pembiayaan syariah (lanjutan)                                   (continued)

                         Kredit sindikasi, kredit dalam rangka pembiayaan                Syndication loans, direct financing and joint
                         langsung dan pembiayaan bersama serta                           financing, and channeling loans are stated at their
                         penerusan dinyatakan sebesar saldonya sesuai                    outstanding balances in proportion to the risks
                         dengan porsi kredit yang risikonya ditanggung                   borne by the Bank and its Subsidiaries.
                         oleh Bank Mandiri dan Entitas Anak.

                         Piutang/pembiayaan syariah                                      Sharia receivables/financing

                         Di dalam kredit yang diberikan termasuk                         Included in loans are financing provided by
                         pembiayaan oleh PT Bank Syariah Indonesia                       PT Bank Syariah Indonesia Tbk. (previously
                         Tbk. (dahulu PT Bank Syariah Mandiri (“BSM”)),                  PT Bank Syariah Mandiri (“BSM”)), a Subsidiary, in
                         Entitas Anak, berupa piutang, pembiayaan                        the form of sharia receivables, sharia financing and
                         syariah dan pinjaman qardh.                                     funds of qardh.

                         Mudharabah adalah kerja sama suatu usaha                        Mudharabah financing is a co-operation for certain
                         antara pihak pertama (malik, shahibul maal atau                 project between first party (malik, shahibul maal or
                         Entitas Anak) yang menyediakan seluruh modal                    Subsidiary) as owner of fund and second party
                         dan pihak kedua (amil, mudharib atau nasabah)                   (amil, mudharib or debtors) as fund manager and
                         yang bertindak selaku pengelola dana dengan                     the profit will be shared in accordance with
                         membagi keuntungan usaha sesuai dengan                          percentage as stated in the agreement, meanwhile
                         persentase tertentu yang disepakati dalam akad,                 losses will be borne by the Subsidiary except if the
                         sedangkan kerugian ditanggung sepenuhnya                        second party does negligence, error or violate the
                         oleh Entitas Anak kecuali jika pihak kedua                      agreement. Mudharabah financing is stated at the
                         melakukan kesalahan yang disengaja, lalai atau                  outstanding financing balance less allowance for
                         menyalahi perjanjian. Pembiayaan mudharabah                     possible losses.
                         dinyatakan sebesar saldo pembiayaan dikurangi
                         dengan penyisihan kerugian.

                         Musyarakah adalah kerja sama di antara dua                      Musyarakah financing is a co-operation between
                         pihak atau lebih untuk suatu usaha tertentu                     two or more parties for a certain business wherein
                         dimana masing-masing pihak memberikan porsi                     each party provides a portion of fund on condition
                         dana dengan ketentuan bahwa keuntungan akan                     that the profit shall be shared based on the agreed
                         dibagi    sesuai    dengan  persentase    yang                  percentage, whereas losses shall be borne in
                         disepakati, sedangkan kerugian ditanggung                       accordance with the portion of the fund of each
                         sesuai dengan porsi dana masing-masing.                         party. Permanent musyarakah financing is
                         Pembiayaan musyarakah permanen adalah                           musyarakah in which the fund portion of each
                         musyarakah dengan ketentuan bagian dana                         partner is stated explicitly in the contract and
                         setiap mitra ditentukan sesuai akad dan                         remains the same until the contract expires.
                         jumlahnya tetap hingga akhir masa akad.                         Declining musyarakah financing (musyarakah
                         Pembiayaan musyarakah menurun (musyarakah                       mutanaqisha) is musyarakah in which the fund
                         mutanaqisha) adalah musyarakah dengan                           portion of the one of the partners will be transferred
                         ketentuan bagian dana salah satu mitra akan                     in several stages to the other partner, resulting in
                         dialihkan secara bertahap kepada mitra lainnya                  the declining of fund portion of one of the partner,
                         sehingga bagian dananya akan menurun dan                        and at the end of contract, the other partner will
                         pada akhir masa akad mitra lain tersebut akan                   become the sole owner of the business.
                         menjadi     pemilik   penuh  usaha    tersebut.                 Musyarakah financing is stated at the outstanding
                         Pembiayaan musyarakah dinyatakan sebesar                        financing balance less allowance for possible
                         saldo pembiayaan dikurangi dengan penyisihan                    losses.
                         kerugian.

                         Akad murabahah adalah akad pembiayaan suatu                     Murabahah contracts are the financing of goods by
                         barang dengan menegaskan harga beli kepada                      confirming purchase price to a buyer and the buyer
                         pembeli dan dibayar dengan harga yang lebih                     pays it at a higher price as an agreed profit.
                         tinggi sebagai marjin yang disepakati. Murabahah                Murabahah is the transaction of sales of goods by
                         adalah transaksi penjualan barang dengan                        stating the acquisition cost and income (margin)
                         menyatakan harga perolehan dan keuntungan                       that has been agreed by the seller and buyer.
                         (marjin) yang disepakati oleh penjual dan
                         pembeli.


                                                                     107
1174 PT Bank Mandiri (Persero) Tbk
Page 668
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     o.   Kredit  yang    diberikan     dan        piutang/            o.   Loans     and     sharia     receivables/financing
          pembiayaan syariah (lanjutan)                                     (continued)

          Piutang/pembiayaan syariah (lanjutan)                             Sharia receivables/financing (continued)

          Piutang murabahah diklasifikasikan sebagai aset                   Murabahah receivables is classified as financial
          keuangan dalam kategori pinjaman yang                             assets under loans and receivables according to
          diberikan dan piutang sesuai PSAK 55                              SFAS No. 55 “Financial Instruments: Recognition
          “Instrumen   Keuangan:       Pengakuan     dan                    and Measurements”.
          Pengukuran”.

          Piutang murabahah pada awalnya diukur pada                        Murabahah receivables initially is stated at net
          nilai bersih yang dapat direalisasi ditambah                      realizable value plus transaction cost/directly
          dengan biaya transaksi/pendapatan administrasi                    attributable administration fee and additional
          yang dapat diatribusikan secara langsung dan                      acquisition cost to acquire those financial assets
          biaya tambahan untuk memperoleh aset                              and after initial recognition, it is measured at
          keuangan tersebut, dan setelah pengakuan awal                     amortised cost using the effective interest rate
          diukur pada biaya perolehan diamortisasi                          method less the allowance for impairment losses.
          menggunakan metode tingkat imbal hasil efektif
          dikurangi cadangan kerugian penurunan nilai.

          Piutang murabahah dinyatakan sebesar jumlah                       Murabahah receivables is stated at the balance of
          piutang setelah dikurangi dengan marjin yang                      the receivable less realizable deferred margin and
          ditangguhkan yang dapat direalisasikan dengan                     allowance for possible losses. The Subsidiary
          cadangan kerugian penurunan nilai. Entitas Anak                   calculates the allowance for impairment loss on
          menetapkan cadangan kerugian penurunan nilai                      receivables    according    to   the    murabahah
          atas piutang sesuai dengan kualitas piutang                       receivables quality based on review on each of
          murabahah berdasarkan penelaahan atas                             receivables balance.
          masing-masing saldo piutang.

          Piutang istishna adalah pembiayaan barang                         Istishna receivables is the financing of goods in the
          dalam bentuk pemesanan pembuatan barang                           form of manufacturing the ordered goods with the
          tertentu dengan kriteria dan persyaratan tertentu                 agreed criteria and specification by both of orderer
          yang disepakati antara pemesan atau pembeli                       or buyer (mustashni) and manufacturer or seller
          (mustashni) dan penjual atau pembuat (shani).                     (shani). Istishna is presented based on the
          Piutang istishna disajikan sebesar tagihan                        outstanding billings less allowance for possible
          kepada pembeli dikurangi penyisihan kerugian.                     losses.

          Pinjaman qardh adalah pinjaman dana kepada                        Qardh is borrowings at the condition that the
          nasabah dengan ketentuan bahwa nasabah wajib                      borrower should repay the loan at specified period
          mengembalikan dana yang diterimanya pada                          of time. The Subsidiary will obtain a fee (ujrah)
          waktu yang telah disepakati. Atas transaksi ini,                  from this transaction, which is recognised upon
          Entitas Anak mendapatkan ujrah (imbalan) dan                      receipt. qardh included hawalah and rahn financing
          diakui pada saat diterima. Pinjaman qardh                         agreement. Hawalah is transfer of debts from
          meliputi pembiayaan dengan akad hawalah dan                       debtors to other party (Subsidiary) which obligates
          rahn. Akad hawalah adalah akad pengalihan                         to bear or pay.
          utang dari pihak yang berutang (nasabah)
          kepada pihak lain (Entitas Anak) yang wajib
          menanggung atau membayar.

          Rahn merupakan transaksi gadai barang atau                        Rahn represents the pledge of goods or assets
          harta dari nasabah kepada Entitas Anak dengan                     owned by the customer to the Subsidiary for an
          uang sebagai gantinya. Barang atau harta yang                     equivalent amount of money. Assets or goods
          digadaikan tersebut dinilai sesuai harga pasar                    pledged are appraised based on market value, less
          dikurangi persentase tertentu. Atas transaksi ini,                a certain deduction percentage. The Subsidiary will
          Entitas Anak mendapatkan ujrah (imbalan) dan                      obtain a fee (ujrah), which is recognised upon
          diakui pada saat diterima. Pinjaman qardh                         receipt. Qardh is stated at its outstanding balance
          disajikan sebesar saldo dikurangi penyisihan                      less allowance for possible losses.
          kerugian.


                                                       108
                                                                                                          ANNUAL REPORT 2023        1175
Page 669
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)
                    o.   Kredit      yang        diberikan            dan           o.   Loans     and       sharia     receivables/financing
                         piutang/pembiayaan syariah (lanjutan)                           (continued)
                         Piutang/pembiayaan syariah (lanjutan)                           Sharia receivables/financing (continued)
                         Kredit yang diberikan dan piutang/pembiayaan                    Loans and sharia receivables/financing are
                         syariah diklasifikasikan sebagai aset keuangan                  classified as financial assets in loans and
                         dalam kelompok pinjaman yang diberikan dan                      receivables category. Refer to Note 2c for the
                         piutang. Lihat Catatan 2c untuk kebijakan                       accounting policy of financial assets for loans and
                         akuntansi atas aset keuangan dalam kelompok                     receivables.
                         pinjaman yang diberikan dan piutang.
                         Restrukturisasi kredit yang diberikan                           Loan restructuring
                         Restrukturisasi kredit dilakukan kepada debitur                 Loan restructuring is done for debtors who has
                         yang berpotensi atau mengalami kesulitan dalam                  potential or experiencing difficulties in fulfilling their
                         memenuhi kewajibannya. Restrukturisasi kredit                   obligations. Restructuring includes modification of
                         meliputi modifikasi persyaratan kredit, konversi                loan terms, conversion of loans into share/stock or
                         kredit menjadi saham atau instrumen keuangan                    other financial instruments and/or a combination of
                         lainnya dan/atau kombinasi dari keduanya.                       both.
                         Kerugian yang timbul dari restrukturisasi kredit                Losses on loan restructuring due to modification of
                         yang berkaitan dengan modifikasi persyaratan                    the terms of the loans are recognised as part of
                         kredit diakui dalam bentuk cadangan kerugian                    allowance for impairment losses only if the present
                         penurunan nilai bila nilai sekarang dari jumlah                 value of total future cash receipts specified in the
                         penerimaan kas yang akan datang yang telah                      new terms of the loans including receipts
                         ditentukan dalam persyaratan kredit yang baru,                  designated as interest and loan principal, are less
                         termasuk penerimaan yang diperuntukkan                          than the carrying amount of loans before
                         sebagai bunga maupun pokok, adalah lebih kecil                  restructuring.
                         dari nilai kredit yang diberikan yang tercatat
                         sebelum restrukturisasi.
                         Untuk restrukturisasi kredit dengan cara konversi               For loan restructuring which involve a conversion
                         kredit yang diberikan menjadi saham atau                        of loans into share/stock or other financial
                         instrumen keuangan lainnya, kerugian dari                       instruments, a loss on loan restructuring is
                         restrukturisasi kredit diakui dalam bentuk                      recognised as part of allowance for impairment
                         cadangan kerugian penurunan nilai apabila nilai                 losses if the fair value of the share or financial
                         wajar penyertaan saham atau instrumen                           instruments received, deducted by estimated
                         keuangan yang diterima dikurangi estimasi biaya                 expenses to sell the share or other financial
                         untuk menjualnya adalah lebih kecil dari nilai                  instruments, is less than the carrying amount of
                         buku kredit yang diberikan.                                     loans.
                         Bank memiliki ketentuan internal mengenai                       The Bank formed internal regulation regarding the
                         debitur yang layak untuk dikeluarkan dari daftar                debtors that are eligible to be removed from the list
                         kredit yang direstrukturisasi, yaitu apabila                    of restructured loans, i.e. when the loan/debtor has
                         kredit/debitur telah memenuhi kriteria sebagai                  met the following criterias:
                         berikut:
                         i.   Kualitas kredit telah dikategorikan Lancar                 i.    Credit quality has been categorised as Current
                              (kolektibilitas 1) sesuai dengan hasil reviu                     (Collectibility 1) according to the review results
                              berdasarkan 3 (tiga) pilar penetapan kualitas                    by three (3) pillars of credit quality on Bank
                              kredit dari Bank Indonesia;                                      Indonesia;
                         ii. Tingkat suku bunga yang dikenakan atas                      ii.   The interest rate charged on the current loan
                              fasilitas kredit berjalan merupakan tingkat                      facility is the commercial interest rates to
                              suku bunga komersial yang diberikan                              debtors in accordance with the relevant credit
                              kepada debitur sesuai dengan segmen kredit                       segments above the base lending rate;
                              yang bersangkutan di atas base lending rate;
                         iii. Tidak terdapat Tunggakan Bunga yang                        iii. There are no Deferred Delinquency Interest
                              Dijadwalkan Kembali (TBYD) dan Bunga                            and Deferred Interest which were not yet
                              yang Ditangguhkan (BYDT) yang masih                             settled.
                              belum selesai.

                    p.   Piutang pembiayaan konsumen                                p.   Consumer financing receivables
                         Piutang pembiayaan konsumen Entitas Anak                        The Subsidiaries consumer financing receivables
                         diakui pada awalnya dengan nilai wajar ditambah                 are recognised initially at fair value, plus
                         biaya-biaya transaksi dan dikurangi yield                       transaction costs and deducted by yield enhancing
                         enhancing income yang dapat diatribusikan                       income that is directly attributable, and
                         secara langsung dan selanjutnya diukur dengan                   subsequently measured at amortised cost using
                         biaya perolehan diamortisasi menggunakan                        the effective interest rate method.
                         metode suku bunga efektif.


                                                                      109
1176 PT Bank Mandiri (Persero) Tbk
Page 670
 CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                      (continued)

     p.   Piutang pembiayaan konsumen (lanjutan)                     p.   Consumer financing receivables (continued)

          Piutang pembiayaan konsumen Entitas Anak                        The Subsidiaries consumer financing receivables
          diklasifikasikan   sebagai   biaya   perolehan                  are classified at amortised cost. Refer to Note 2c
          diamortisasi. Lihat Catatan 2c untuk perlakuan                  for the accounting policy of financial assets
          akuntansi aset keuangan dalam kelompok biaya                    classified at amortised cost.
          perolehan diamortisasi.

          Penyelesaian      kontrak      sebelum     masa                 Early termination before end of consumer financing
          pembiayaan konsumen berakhir diperlakukan                       is treated as a cancellation of an receivables’ terms
          sebagai   pembatalan       kontrak   pembiayaan                 existing contract and the resulting gain or loss is
          konsumen dan laba atau rugi yang terjadi diakui                 credited or charged to the current year’s
          dalam laporan laba rugi dan penghasilan                         consolidated statement of profit or loss and other
          komprehensif lain konsolidasian tahun berjalan                  comprehensive income at the transaction date.
          pada tanggal terjadinya transaksi.

          Restrukturisasi kredit dapat dilakukan dengan                   Loan/financing restructuring can be done by
          cara pengalihan kredit, melanjutkan kredit,                     transfer of financing, financing continuation,
          mengangsur kembali, mengubah jatuh tempo,                       re-installment payment, change the due date,
          mengubah tenor dan/atau menambah uang                           change the tenor and/or increase the down
          muka.                                                           payment.

          Pendapatan pembiayaan konsumen yang belum                       Subsidiaries’s unearned consumer financing
          diakui milik Entitas Anak merupakan selisih                     income is the difference between total installments
          antara   jumlah     keseluruhan pembayaran                      to be received from customers and the total
          angsuran yang akan diterima dari konsumen                       financing principal which is recognised as
          dengan jumlah pokok pembiayaan, yang akan                       consumer financing income over the term of the
          diakui  sebagai      pendapatan pembiayaan                      contract using effective interest rate.
          konsumen selama jangka waktu kontrak
          menggunakan metode suku bunga efektif.

          Piutang pembiayaan konsumen merupakan                           Consumer financing receivables are net of joint
          jumlah piutang setelah dikurangi dengan bagian                  financing receivables after deducted with joint
          pembiayaan bersama dimana risiko kredit                         financing portion where joint financing providers
          ditanggung oleh pemberi pembiayaan bersama                      bears credit risk in accordance with its portion
          sesuai dengan porsinya (without recourse),                      (without recourse), unearned consumer financing
          pendapatan pembiayaan yang belum diakui dan                     income and allowance for impairment losses.
          cadangan kerugian penurunan nilai.

          Piutang pembiayaan konsumen yang dibiayai                       Joint financing receivables that are jointly financed
          bersama pihak-pihak lain dimana masing-masing                   with other parties, bears credit risk in accordance
          pihak menanggung risiko kredit sesuai dengan                    with their financing portion (without recourse) are
          porsinya (without recourse) disajikan di laporan                presented on a net basis in the consolidated
          posisi keuangan konsolidasian secara bersih.                    statement of financial position. Consumer financing
          Pendapatan pembiayaan konsumen dan beban                        income and interest expense related to joint
          bunga yang terkait dengan pembiayaan bersama                    financing without recourse are also presented on a
          without recourse disajikan secara bersih di                     net basis in the consolidated statement of profit or
          laporan laba rugi dan penghasilan komprehensif                  loss and other comprehensive income.
          lain konsolidasian.

          Dalam pembiayaan bersama without recourse,                      In joint financing without recourse, the Subsidiaries
          Entitas Anak berhak menentukan tingkat bunga                    has the right to set higher interest rates to
          yang lebih tinggi kepada pelanggan dari tingkat                 customers than those that are stated in the joint
          bunga yang ditetapkan dalam perjanjian dengan                   financing agreements with joint financing providers.
          pemberi pembiayaan bersama. Selisihnya                          The difference is recognised as revenue and
          merupakan pendapatan dan disajikan sebagai                      disclosed part of as “Consumer financing income”.
          bagian     dari    “Pendapatan    pembiayaan
          konsumen”.

     q.   Investasi bersih dalam sewa pembiayaan                     q.   Net investment finance leases

          Investasi bersih dalam sewa pembiayaan                          Net investment finance leases are classified at
          diklasifikasikan   sebagai   biaya     perolehan                amortised cost. Refer to Note 2c to the accounting
          diamortisasi. Lihat Catatan 2c untuk kebijakan                  policy for at amortised cost.
          akuntansi atas biaya perolehan diamortisasi.




                                                      110
                                                                                                        ANNUAL REPORT 2023        1177
Page 671
            MAIN                        MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    q.   Investasi bersih dalam sewa pembiayaan                     q.   Net investment finance leases (continued)
                         (lanjutan)

                         Penyewa pembiayaan memiliki hak opsi untuk                      The lessee has the right option to purchase the
                         membeli aset yang disewa-pembiayaankan pada                     leased asset at the end of the lease period at a
                         akhir masa sewa pembiayaan dengan harga                         price which has mutually agreed upon at the
                         yang telah disetujui bersama pada saat                          commencement of the agreement.
                         dimulainya perjanjian sewa pembiayaan.

                         Penyelesaian kontrak sebelum masa sewa                          Early termination before end of finance leases’
                         pembiayaan berakhir diperlakukan sebagai                        terms is treated as a cancellation of an existing
                         pembatalan kontrak sewa dan laba atau rugi                      contracts and the resulting gain or loss is
                         yang timbul diakui dalam laporan laba rugi dan                  recognised in the current year consolidated
                         penghasilan komprehensif lain konsolidasian                     statement of profit or loss and other
                         tahun berjalan.                                                 comprehensive income.

                    r.   Aset tetap, aset dan liabilitas sewa dan aset              r.   Fixed assets, leased assets and liabilities, and
                         takberwujud                                                     intangible assets

                         i.   Aset tetap dan perangkat lunak                             i.   Fixed assets and software

                              Pada tanggal 1 April 2016, Grup melakukan                       On 1 April 2016, the Group changed their
                              perubahan kebijakan akuntansi atas tanah                        accounting policy relating to land from cost
                              dari model biaya menjadi model revaluasi.                       model into revaluation model. Land is stated
                              Tanah disajikan sebesar nilai wajar.                            at fair value.

                              Penilaian terhadap tanah dilakukan oleh                         Appraisal of the land is performed by a
                              penilai independen eksternal yang memiliki                      certified external independent appraiser.
                              sertifikasi. Penilaian atas aset tersebut                       Assessment of those assets are conducted
                              dilakukan secara berkala untuk memastikan                       regularly to ensure that the fair value of the
                              bahwa nilai wajar aset yang direvaluasi tidak                   revaluated asset is not materially different
                              berbeda secara material dengan nilai                            from its carrying value.
                              tercatatnya.

                              Jika nilai wajar dari aset yang direvaluasi                     If the fair value of the revalued asset change
                              mengalami perubahan yang signifikan dan                         significantly and fluctuative, it is necessary to
                              fluktuatif, maka perlu direvaluasi secara                       revaluate the assets on an annual basis,
                              tahunan, sedangkan jika nilai wajar dari aset                   whereas if the fair value of the revalued asset
                              yang direvaluasi tidak mengalami perubahan                      does not change significantly, it is necessary
                              yang signifikan dan fluktuatif, maka perlu                      to revaluate at a minimum every 3 years.
                              dilakukan revaluasi minimal 3 tahun sekali.

                              Kenaikan nilai tercatat yang timbul dari                        The increase in the carrying value arising from
                              revaluasi tanah dicatat sebagai “Selisih                        the revaluation of land is recorded as "Net
                              bersih revaluasi aset tetap” dan disajikan                      differences in fixed assets revaluation" and is
                              sebagai penghasilan komprehensif lain.                          presented as "Other comprehensive income".
                              Penurunan nilai tercatat yang timbul dari                       Any impairment arising from the revaluation is
                              revaluasi dicatat sebagai beban pada tahun                      recorded as expense of the current year. If the
                              berjalan. Apabila aset tersebut memiliki                        asset had a balance of "Net differences in
                              saldo “Selisih bersih revaluasi aset tetap”                     fixed assets revaluation" that is presented as
                              yang      disajikan   sebagai   penghasilan                     "Other Comprehensive Income", then the
                              komprehensif lain, maka selisih penurunan                       impairment difference recorded is charged
                              nilai tercatat tersebut dibebankan terhadap                     against "Net differences in fixed assets
                              “Selisih bersih revaluasi aset tetap” dan                       revaluation" and the rest is recognised as
                              sisanya diakui sebagai beban tahun berjalan.                    expense of the current year.

                              Grup melakukan revaluasi di tahun 2016                          Group conducted revaluation in 2016, for
                              untuk tujuan akuntansi dan pajak dimana                         accounting and tax purposes where the Group
                              entitas memperoleh persetujuan dari otoritas                    obtained approval from the tax authorities. The
                              perpajakan. Jumlah pajak yang telah dibayar                     amount of taxes paid is recognised in other
                              diakui di penghasilan komprehensif lain dan                     comprehensive income and accumulated in
                              terakumulasi dalam ekuitas dan di-offset                        equity offset with the Net differences arising
                              pada bagian selisih bersih revaluasi aset                       from the revaluation of fixed assets.
                              tetap.




                                                                      111
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 CORPORATE                     ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                 Financial
 GOVERNANCE                    & PRACTICES                         RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                 Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                           2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                            (continued)
     r.   Aset tetap, aset dan liabilitas sewa dan aset                    r.    Fixed assets, leased assets and liabilities, and
          takberwujud (lanjutan)                                                 intangible assets (continued)
           i.   Aset tetap dan perangkat lunak (lanjutan)                        i.    Fixed assets and software (continued)

                Aset tetap, kecuali tanah, dinyatakan                                  Fixed assets except for land are stated at cost
                sebesar      biaya     perolehan     dikurangi                         less accumulated depreciation and impairment
                akumulasi penyusutan dan penyisihan                                    losses. Such cost includes the cost of
                penurunan nilai. Biaya perolehan termasuk                              replacing part of the fixed assets when that
                biaya penggantian bagian aset tetap saat                               cost is incurred, if the recognition criteria are
                biaya tersebut terjadi, jika memenuhi kriteria                         met. Likewise, when a major inspection is
                pengakuan aset tetap. Selanjutnya, pada                                performed, its cost is recognised in the
                saat inspeksi yang signifikan dilakukan,                               carrying amount of the fixed assets as a
                biaya inspeksi itu diakui ke dalam jumlah                              replacement if the recognition criteria are
                tercatat (carrying amount) aset tetap sebagai                          fulfilled. All other repair and maintenance
                suatu penggantian jika memenuhi kriteria                               costs that do not have future economic benefit
                pengakuan. Semua biaya pemeliharaan dan                                are recognised in the consolidated statement
                perbaikan yang tidak memenuhi kriteria                                 of profit or loss and other comprehensive
                pengakuan diakui dalam laporan laba rugi                               incomes as incurred. Software is recognised
                dan     penghasilan       komprehensif      lain                       as intangible assets.
                konsolidasian      pada     saat    terjadinya.
                Perangkat lunak diakui sebagai aset tak
                berwujud.
                Penyusutan dan amortisasi dihitung dengan                              Depreciation and amortisation is calculated
                menggunakan metode garis lurus selama                                  using the straight-line method over the
                umur manfaat ekonomis aset tetap dan aset                              estimated useful lives of fixed assets and
                takberwujud yang diestimasi. Estimasi umur                             intangible assets. The estimated useful lives
                manfaat     ekonomis    dan     persentase                             and    percentage    of   depreciation    and
                penyusutan dan amortisasi per tahun adalah                             amortization per annum are as follows:
                sebagai berikut:

                                                         Tahun/                 Persentase/
                                                         Years                  Percentage

                Bangunan                                             20                      5%                                Buildings
                Perlengkapan, peralatan                                                                    Furniture and fixtures, office
                  kantor, komputer dan                                                                     equipment, computer and
                  kendaraan bermotor                                4-5               20% - 25%                               vehicles
                Perangkat lunak                                       5                     20%                                Software
                Jumlah tercatat aset tetap dihentikan                                  Fixed assets are derecognised upon disposal
                pengakuannya pada saat dilepaskan atau                                 or when no future economic benefits are
                saat tidak ada manfaat ekonomis masa                                   expected from their use or disposal. Any gain
                depan yang diharapkan dari penggunaan                                  or loss arising from the derecognition of the
                atau pelepasannya. Laba atau rugi yang                                 fixed asset (calculated as the difference
                timbul dari penghentian pengakuan aset                                 between the net disposal proceeds and the
                tetap (dihitung sebagai perbedaan antara                               carrying amount of the fixed asset) is included
                jumlah neto hasil pelepasan dan jumlah                                 in the consolidated statement of profit or loss
                tercatat dari aset tetap) dimasukkan dalam                             and other comprehensive income in the year
                laporan    laba    rugi   dan   penghasilan                            which the fixed asset is derecognised.
                komprehensif lain konsolidasian pada tahun
                berjalan aset tetap tersebut dihentikan
                pengakuannya.

                Pada setiap akhir tahun buku, nilai residu,                            The fixed asset’s residual values, useful lives
                umur manfaat ekonomis dan metode                                       and methods of depreciation are reviewed,
                penyusutan dikaji ulang dan jika tidak sesuai                          and adjusted prospectively if appropriate, end
                dengan keadaan akan disesuaikan secara                                 of at each financial year.
                prospektif.
                Aset tetap dalam pembangunan dinyatakan                                Construction in progress of fixed asset is
                sebesar biaya perolehan dan disajikan                                  stated at cost and presented as part of fixed
                sebagai bagian dari aset tetap. Ketika aset                            assets. Accumulated costs are reclassified to
                dalam pembangunan telah selesai dan siap                               the appropriate fixed assets account when the
                digunakan, akumulasi biaya perolehan                                   assets are substantially complete and ready
                direklasifikasikan ke akun aset tetap yang                             for their intended use.
                sebenarnya.


                                                           112
                                                                                                                ANNUAL REPORT 2023          1179
Page 673
            MAIN                          MANAGEMENT                         COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                            PROFILE                            ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                          (continued)

                    r.   Aset tetap, aset dan liabilitas sewa dan aset                  r.   Fixed assets, leased assets and liabilities, and
                         takberwujud (lanjutan)                                              intangible assets (continued)

                          i. Aset tetap dan perangkat lunak (lanjutan)                       i.    Fixed assets and software (continued)

                               Sesuai dengan PSAK 16 (Revisi 2011)                                 In accordance with SFAS No. 16 (Revised
                               tentang “Aset Tetap”, biaya perolehan hak                           2011) regarding "Fixed Assets", the cost of
                               atas tanah dalam bentuk hak guna usaha,                             land rights in the form of right to cultivate, right
                               hak guna bangunan dan hak pakai diakui                              to build and use rights are recognised as fixed
                               sebagai aset tetap. Biaya perolehan tersebut                        assets. The acquisition cost is the cost that
                               merupakan biaya yang dapat diatribusikan                            are directly attributable to obtain land rights,
                               secara langsung untuk memperoleh hak atas                           including the cost of legal rights to the land
                               tanah tersebut termasuk biaya pengurusan                            when the land was first acquired.
                               legal hak atas tanah ketika tanah diperoleh
                               pertama kali.

                               Hak atas tanah dalam bentuk hak guna                                Land rights in the form of right to cultivate,
                               usaha, hak guna bangunan dan hak pakai                              right to build and use rights are not amortised,
                               tidak disusutkan, kecuali terdapat bukti yang                       unless there is evidence to indicate that the
                               mengindikasikan bahwa perpanjangan atau                             extension or renewal of land rights is likely to
                               pembaruan hak atas tanah tersebut                                   or definitely not obtained.
                               kemungkinan besar atau pasti tidak
                               diperoleh.

                               PSAK 48 (Revisi 2014) tentang “Penurunan                            SFAS No. 48 (Revised 2014) regarding
                               Nilai Aset” mensyaratkan bahwa nilai tercatat                       “Impairment of Assets” requires that the
                               aset tetap dikaji ulang setiap tanggal laporan                      carrying amounts of fixed assets are reviewed
                               posisi keuangan konsolidasian untuk menilai                         at each consolidated statement of financial
                               apakah aset tetap tersebut nilai tercatatnya                        position date to assess whether they are
                               lebih tinggi dari nilai terpulihkan (recoverable                    recorded in excess of their recoverable
                               amount) dari aset tetap tersebut. Jika nilai                        amounts of the fixed assets. If the carrying
                               tercatat aset tetap melebihi taksiran nilai                         value exceeds this estimated recoverable
                               terpulihkan dari aset tetap tersebut, nilai                         amount, assets are written down to their
                               tercatat aset tetap harus diturunkan menjadi                        recoverable amount of the fixed assets.
                               nilai terpulihkan dari aset tetap tersebut.

                         ii.   Aset dan liabilitas sewa                                      ii.   Leased assets and liabilities

                               Grup telah menerapkan PSAK 73 “Sewa”                                The Group has implemented SFAS No. 73
                               sejak tanggal 1 Januari 2020.                                       “Leased” since 1 January 2020.

                               PSAK 73 menerapkan persyaratan baru atau                            SFAS No. 73 applies new or amended
                               amendemen sehubungan dengan akuntansi                               requirements with respect to lease accounting.
                               sewa.      Standar   ini  memperkenalkan                            This standard introduces significant changes
                               perubahan signifikan untuk akuntansi                                to lessee accounting by eliminating the
                               penyewa dengan menghapus perbedaan                                  distinction between operating and financing
                               antara sewa operasi dan pembiayaan, serta                           leases, and requires recognition of right-of-use
                               mensyaratkan pengakuan aset hak guna dan                            assets and recognition of lease liabilities at
                               pengakuan liabilitas sewa pada saat                                 lease inception for all leases, except for short-
                               dimulainya sewa untuk seluruh sewa, kecuali                         term leases and leases of low-value assets. In
                               untuk sewa jangka pendek dan sewa aset                              contrast    to    lessee     accounting,     the
                               bernilai rendah. Berbeda dengan akuntansi                           requirements for lessor accounting are mostly
                               penyewa, persyaratan untuk akuntansi                                unchanged.
                               pesewa sebagian besar tidak berubah.

                               PSAK 73 menentukan apakah kontrak                                   SFAS No. 73 determines whether a contract
                               merupakan, atau mengandung sewa atas                                is, or contains a lease on the basis that the
                               dasar jika penyewa memiliki hak untuk                               lessee has the right to control the use of the
                               mengendalikan penggunaan aset selama                                asset for a specified period of time in
                               suatu    jangka   waktu    tertentu untuk                           exchange for certain consideration.
                               dipertukarkan dengan imbalan.

                               Grup menggunakan tingkat diskonto tunggal                           The Group uses a single discount rate for
                               untuk portofolio sewa dengan karakteristik                          lease portfolios with similar characteristics.
                               yang hampir sama.



                                                                          113
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 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                          2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                           (continued)
     r.   Aset tetap, aset dan liabilitas sewa dan aset                   r.   Fixed assets, leased assets and liabilities, and
          takberwujud (lanjutan)                                               intangible assets (continued)
          ii.   Aset dan liabilitas sewa (lanjutan)                            ii.   Leased assets and liabilities (continued)
                Grup menerapkan pendekatan pengakuan                                 The Group applies a single recognition and
                dan pengukuran tunggal untuk seluruh sewa,                           measurement approach to all leases, except
                kecuali untuk sewa jangka pendek dan sewa                            for short-term leases and low-value asset
                aset bernilai rendah. Grup mengakui liabilitas                       leases. The Group recognizes a lease
                sewa untuk melakukan pembayaran sewa                                 liabilities to make lease payments and rights of
                dan aset hak guna yang mewakili hak untuk                            use assets that represent the right to use the
                menggunakan aset pendasar.                                           underlying asset.

                Grup mengakui aset hak guna pada tanggal                             The Group recognised the rights of use assets
                dimulainya sewa. Aset hak guna diukur pada                           at the inception date of the lease. The rights of
                biaya perolehan, dikurangi akumulasi                                 use assets are measured at cost, less
                penyusutan dan kerugian penurunan nilai,                             accumulated depreciation and impairment
                dan disesuaikan untuk setiap pengukuran                              losses, and adjusted for any remeasurement
                kembali liabilitas sewa. Liabilitas sewa                             of the lease liabilities. Lease liabilities are the
                merupakan jumlah pembayaran sewa yang                                amount of lease payments accrued until the
                masih harus dibayar hingga akhir masa                                end of the lease term, discounted using the
                sewa      yang     didiskontokan    dengan                           incremental loan interest rate. The cost of
                menggunakan       suku    bunga   pinjaman                           lease assets includes the amount of lease
                inkremental. Biaya aset hak guna mencakup                            liability recognised, initial direct costs paid,
                jumlah liabilitas sewa yang diakui, biaya                            recovery costs and lease payments made on
                langsung awal yang dibayarkan, biaya                                 or before the start date of the lease less lease
                pemulihan dan pembayaran sewa yang                                   incentives received. Rights of use assets are
                dilakukan pada atau sebelum tanggal mulai                            depreciated using the straight-line method
                sewa dikurangi insentif sewa yang diterima.                          over the shorter period between the lease
                Aset hak guna disusutkan dengan metode                               term and the estimated useful life of the asset,
                garis lurus selama jangka waktu yang lebih                           as follows:
                pendek antara masa sewa dengan estimasi
                masa manfaat aset, sebagai berikut:
                -   Bangunan                                     : 20 tahun/years                                          Building        -
                -   Mesin kantor                                 : 5 tahun/years                                   Office machines         -
                -   Komputer perangkat keras                     : 5 tahun/years                              Computer hardware            -
                -   Komputer perangkat lunak                     : 5 tahun/years                               Computer software           -
                -   Inventaris kantor                            : 5 tahun/years                                  Office equipment         -
                -   Inventaris rumah dinas dan mess              : 5 tahun/years           Inventory of official houses and mess           -
                -   Kendaraan bermotor                           : 5 tahun/years                                      Motor vehicle        -
                Jika kepemilikan aset sewa dialihkan ke                              If ownership of the leased asset is transferred
                Grup pada akhir masa sewa atau                                       to the Group at the end of the lease term or
                pembayaran        sewa      mencerminkan                             the lease payments reflect the exercise of the
                pelaksanaan opsi pembelian, penyusutan                               purchase option, depreciation is calculated
                dihitung menggunakan estimasi masa                                   using the estimated useful lives of the asset.
                manfaat ekonomis aset. Aset hak guna diuji                           Rights of use assets are assessed for
                penurunan nilainya sesuai dengan PSAK 48                             impairment in accordance with SFAS No. 48
                “Penurunan Nilai Aset”.                                              “Impairment of Assets”.
                Pada tanggal dimulainya sewa, Grup                                   At the inception date of the lease, the Group
                mengakui liabilitas sewa yang diukur pada                            recognizes lease liabilities which measured at
                nilai kini dari pembayaran sewa masa depan                           the present value of future lease payments to
                yang akan dilakukan selama masa sewa.                                be made over the lease term. Lease payments
                Pembayaran sewa termasuk pembayaran                                  include fixed payments (including substantially
                tetap (termasuk pembayaran tetap secara-                             fixed payments) less lease incentive
                substansi) dikurangi piutang insentif sewa,                          receivables, variable lease payments that are
                pembayaran sewa variabel yang bergantung                             index or interest rate dependent, and the
                pada indeks atau suku bunga, dan jumlah                              amount expected to be paid in a residual value
                yang diharapkan akan dibayar dalam                                   guarantee. Lease payments also include the
                jaminan nilai residu. Pembayaran sewa juga                           reasonable exercise price for the purchase
                termasuk harga eksekusi opsi pembelian                               option if it is determined to be made by the
                yang wajar jika dipastikan akan dilakukan                            Group and the payment of a penalty to
                oleh Grup dan pembayaran penalti untuk                               terminate the lease, if the lease term reflects
                mengakhiri sewa, jika jangka waktu sewa                              the Group exercising the lease termination
                mencerminkan Grup mengeksekusi opsi                                  option. Variable lease payments that are not
                penghentian sewa. Pembayaran sewa                                    dependent on an index or interest rate are
                variabel yang tidak bergantung pada indeks                           recognised as an expense in the period in
                atau suku bunga diakui sebagai beban pada                            which the event or condition that triggers the
                periode di mana peristiwa atau kondisi yang                          payment occurs.
                memicu pembayaran terjadi.


                                                         114
                                                                                                               ANNUAL REPORT 2023          1181
Page 675
            MAIN                         MANAGEMENT                         COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                           ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    r.   Aset tetap, aset dan liabilitas sewa dan aset                 r.   Fixed assets, leased assets and liabilities, and
                         takberwujud (lanjutan)                                             intangible assets (continued)

                         ii.   Aset dan liabilitas sewa (lanjutan)                          ii.   Leased assets and liabilities (continued)

                               Dalam menghitung nilai kini dari pembayaran                        In calculating the present value of lease
                               sewa, Grup menggunakan suku bunga                                  payments, the Group uses the incremental
                               pinjaman inkremental penyewa pada tanggal                          loan interest rate of the lessee at the inception
                               dimulainya sewa karena suku bunga implisit                         date of the lease because the interest rate
                               dalam sewa tidak dapat ditentukan. Setelah                         implicit in the lease cannot be determined.
                               tanggal dimulainya sewa, jumlah liabilitas                         After the inception date of the lease, the
                               sewa ditingkatkan untuk mencerminkan                               amount of the lease liability is increased to
                               pertambahan      bunga       dan   dikurangi                       reflect the increase in interest and less lease
                               pembayaran sewa yang dilakukan. Selain                             payments made. In addition, the carrying
                               itu, jumlah tercatat liabilitas sewa diukur                        amount of the lease liability is remeasured if
                               kembali jika terdapat modifikasi, perubahan                        there are modifications, changes in the term of
                               jangka waktu sewa, perubahan pembayaran                            the lease, changes in lease payments, or
                               sewa, atau perubahan dalam penilaian opsi                          changes in the valuation of the option to
                               untuk membeli aset pendasar.                                       purchase the underlying asset.

                               Sewa jangka pendek dengan durasi kurang                            Short-term leases with a duration of less than
                               dari 12 bulan dan sewa aset bernilai rendah,                       12 months and leases of low value assets, as
                               serta    elemen-elemen     sewa     tersebut,                      well as elements of such leases, partially or
                               sebagian atau seluruhnya tidak menerapkan                          wholly do not apply the recognition principles
                               prinsip-prinsip pengakuan yang ditentukan                          prescribed by SFAS No. 73. The Group will
                               oleh PSAK 73. Grup akan mengakui                                   recognize the lease payment on a straight-line
                               pembayaran sewa tersebut dengan dasar                              basis over the lease term in the consolidated
                               garis lurus selama masa sewa dalam                                 statement of profit or loss and other
                               laporan     laba  rugi   dan     penghasilan                       comprehensive income. This expense is
                               komprehensif lain konsolidasian. Beban ini                         shown under general and administrative
                               ditunjukkan pada beban umum dan                                    expenses in the income statement.
                               administrasi dalam laporan laba rugi.

                               Penerapan pencatatan PSAK 73 berlaku                               The implementation of SFAS No. 73 payment
                               untuk seluruh sewa (kecuali sebagaimana                            applies to all leases (except as stated earlier),
                               yang disebutkan sebelumnya), yaitu sebagai                         as follows:
                               berikut:
                               (a) Menyajikan aset hak-guna sebagai                               (a) Present right of use assets as part of fixed
                                    bagian dari aset tetap dan liabilitas sewa                        assets and leased liabilities are presented
                                    disajikan sebagai bagian dari liabilitas                          as part of other liabilities in the
                                    lain-lain dalam laporan posisi keuangan                           consolidated statement of financial
                                    konsolidasian, yang diukur pada nilai                             position, measured at the present value of
                                    kini dari pembayaran sewa masa depan;                             future lease payments;
                               (b) Mencatat penyusutan aset hak-guna                              (b) Record the depreciation of right of use
                                    dan bunga atas liabilitas sewa dalam                              assets and the interest of lease liability in
                                    laporan laba rugi dan penghasilan                                 the consolidated statement of profit or
                                    komprehensif lain konsolidasian; dan                              loss and other comprehensive income;
                                                                                                      and
                               (c) Memisahkan jumlah pembayaran ke                                (c) Separating the total payment into principal
                                   bagian pokok (disajikan dalam kegiatan                             (presented in financing activities) and
                                   pendanaan) dan bunga (disajikan dalam                              interest (presented in operating activities)
                                   kegiatan operasional) dalam laporan                                in the consolidated statement of cash
                                   arus kas konsolidasian.                                            flows.

                         iii. Aset takberwujud                                              iii. Intangible assets

                               Aset takberwujud terdiri dari perangkat lunak                      Intangible assets consist of software and
                               dan goodwill.                                                      goodwill.



                                                                         115
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 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     r.   Aset tetap, aset dan liabilitas sewa dan aset                r.   Fixed assets, leased assets and liabilities, and
          takberwujud (lanjutan)                                            intangible assets (continued)

          iii. Aset takberwujud (lanjutan)                                  iii. Intangible assets (continued)

              Perangkat lunak yang dibeli oleh Bank dan                         Software purchased by the Bank and
              Entitas Anak dicatat sebesar biaya                                Subsidiaries is recorded at cost less
              perolehan dikurangi akumulasi amortisasi                          accumulated amortization and accumulated
              dan akumulasi kerugian penurunan nilai.                           impairment losses. Amortization method,
              Metode amortisasi, estimasi masa manfaat                          estimated useful life and residual value are
              dan nilai residual ditelaah pada setiap akhir                     reviewed at end of reporting period and
              tahun pelaporan dan disesuaikan jika                              adjusted if necessary.
              diperlukan.

              Goodwill diakui apabila terdapat selisih lebih                    Goodwill is recognised when there is a
              antara harga perolehan dan bagian Bank                            positive difference between the acquisition
              Mandiri atas nilai wajar aset dan liabilitas                      cost and the Bank Mandiri’s portion of the fair
              yang dapat diidentifikasi pada tanggal                            value of identified assets and liabilities at the
              akuisisi dan disajikan sebagai aset lain-lain.                    acquisition date. Goodwill is presented as
              Bank melakukan evaluasi penurunan                                 other assets. The Bank conducts an
              nilainya secara berkala.                                          assessment of goodwill impairment regularly.

     s.   Penyertaan saham                                             s.   Investments in shares

          Penyertaan saham terdiri dari investasi jangka                    Investments in shares represent long-term
          panjang terutama pada perusahaan non-publik                       investments     mostly    in    non-publicly-listed
          dan penyertaan sementara hasil restrukturisasi                    companies and temporary investments in debtor
          kredit pada perusahaan debitur yang timbul                        companies arising from conversion of loans.
          akibat konversi kredit yang diberikan.

          Penyertaan saham untuk tujuan investasi dengan                    Investments in shares under 20% and with no
          kepemilikan di bawah 20% dan tidak terdapat                       significant control are financial assets classified as
          pengaruh signifikan merupakan aset keuangan                       fair value through profit/loss or amortised cost.
          yang diklasifikasikan sebagai nilai wajar melalui                 Refer to Note 2c for the accounting policy for fair
          laba rugi atau biaya perolehan diamortisasi. Lihat                value through profit/loss or amortised cost.
          Catatan 2c untuk kebijakan akuntansi atas nilai
          wajar melalui laba rugi dan biaya perolehan
          diamortisasi.

          Penyertaan sementara akan dihapusbuku dari                        Temporary investment is written-off from the
          laporan posisi keuangan konsolidasian apabila                     consolidated statement of financial position if it has
          telah melampaui jangka waktu 5 tahun sesuai                       exceeded the 5 year period in accordance with
          dengan Peraturan Otoritas Jasa Keuangan                           Financial Services Authority Regulation (POJK)
          (POJK)     No.    40/POJK.03/2019     tanggal                     No. 40/POJK.03/2019 dated 19 December 2019
          19 Desember 2019 tentang Penilaian Kualitas                       concerning Asset Quality Assessment of
          Aset Bank Umum.                                                   Commercial Banks.

          Penyertaan saham untuk tujuan investasi dengan                    Investments in shares for investment purposes with
          kepemilikan saham sebesar 20% atau lebih dan                      a share ownership of 20% or more and with
          terdapat    pengaruh      signifikan merupakan                    significant influence are investments in associates.
          investasi pada entitas asosiasi. Investasi Bank                   The Bank’s investment in associates is measured
          Mandiri pada entitas asosiasi diukur dengan                       at equity method. The initial recognition of
          menggunakan metode ekuitas. Pengakuan awal                        investment in associates is recognized at cost of
          investasi pada entitas asosiasi diakui sebesar                    acquisition. The carrying amount of the investment
          biaya perolehan. Jumlah tercatat pada investasi                   in associates is adjusted to recognize Bank
          pada entitas asosiasi ditambah atau dikurangkan                   Mandiri's share of profit or loss, receipt of
          untuk mengakui bagian Bank Mandiri atas laba                      distributions, and changes directly recognised in
          rugi, penerimaan distribusi, perubahan yang                       the equity of the associates after the acquisition
          diakui langsung pada ekuitas entitas asosiasi                     date.
          setelah tanggal perolehan.


                                                       116
                                                                                                          ANNUAL REPORT 2023         1183
Page 677
            MAIN                          MANAGEMENT                      COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                         PROFILE                         ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    t.   Cadangan kerugian penurunan nilai aset non-                t.   Allowance for possible losses on non-earning
                         produktif                                                       assets

                         Aset non-produktif adalah aset Bank Mandiri dan                 Non-earning assets of Bank Mandiri and the
                         Entitas Anak, antara lain dalam bentuk agunan                   Subsidiaries consist of repossessed assets,
                         yang diambil alih, properti terbengkalai, rekening              abandoned properties, inter-office accounts and
                         antar kantor dan suspense account.                              suspense accounts.

                         Grup membentuk cadangan kerugian penurunan                      The Group provides an allowance for impairment of
                         nilai atas agunan yang diambil alih dan properti                repossessed assets and abandoned property equal
                         terbengkalai sebesar selisih antara nilai tercatat              to the difference between the asset’s carrying
                         dan nilai wajar setelah dikurangi biaya untuk                   amount and its fair value less costs to sell. As for
                         menjual. Sedangkan untuk rekening antar kantor                  the inter-office account and suspense account, the
                         dan suspense account, adalah sebesar selisih                    allowance is equivalent to difference between the
                         antara nilai tercatat dan nilai pemulihan.                      carrying value and the recovery value.

                    u.   Tagihan dan liabilitas akseptasi                           u.   Acceptance receivables and payables

                         Tagihan akseptasi diklasifikasikan sebagai aset                 Acceptance receivables are classified as financial
                         keuangan dalam kelompok biaya perolehan                         assets at amortised cost. Refer to Note 2c for the
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                  accounting policy of financial assets for financial
                         akuntansi atas aset keuangan dalam kelompok                     assets at amortised cost.
                         biaya perolehan diamortisasi.

                         Liabilitas akseptasi diklasifikasikan sebagai                   Acceptance payables are classified as financial
                         liabilitas keuangan yang diukur dengan biaya                    liabilities at amortised cost. Refer to Note 2c for the
                         perolehan diamortisasi. Lihat Catatan 2c untuk                  accounting policy for financial liabilities at
                         kebijakan akuntansi atas liabilitas keuangan yang               amortised cost.
                         diukur dengan biaya perolehan diamortisasi.

                    v.   Aset lain-lain                                             v.   Other assets

                         Aset lain-lain antara lain terdiri dari pendapatan              Other assets include accrued income for interest,
                         bunga dan provisi dan komisi yang masih akan                    provision      and      commissions,      receivables,
                         diterima, tagihan, agunan yang diambil alih,                    repossessed assets, abandonded properties,
                         properti terbengkalai, piutang ijarah, rekening                 ijarah, inter-office accounts and others.
                         antar kantor dan lain-lain.

                         Tagihan terdiri dari tagihan atas obligasi                      Receivables     consist  of    receivables    from
                         pemerintah yang diagunkan Bank Mandiri,                         government bonds pledged by the Bank, mutual
                         tagihan Entitas Anak atas tagihan reksadana dan                 fund receivables from Subsidiaries and receivables
                         tagihan kepada pemegang polis.                                  from policyholders.

                         Agunan yang diambil alih (AYDA) adalah aset                     Repossessed assets represent assets acquired by
                         yang diperoleh Bank Mandiri dan Entitas Anak,                   Bank Mandiri and Subsidiaries, both from auction
                         baik melalui pelelangan maupun di luar                          and non auction based on voluntary transfer by the
                         pelelangan berdasarkan penyerahan secara                        debtor or based on debtor’s approval to sell the
                         sukarela oleh pemilik agunan atau berdasarkan                   collateral not through auction when the debtor do
                         kuasa untuk menjual di luar lelang dari pemilik                 not fulfill their obligations to Bank Mandiri and
                         agunan dalam hal debitur tidak memenuhi                         Subsidiaries. Repossessed assets represent loan
                         liabilitasnya kepada Bank Mandiri dan Entitas                   collateral that were taken over as part of loans
                         Anak. AYDA merupakan agunan kredit yang                         settlement and presented in “Other Assets”.
                         diberikan yang telah diambil alih sebagai bagian
                         dari penyelesaian kredit yang diberikan dan
                         disajikan pada “Aset lain-lain”.




                                                                      117
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 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     v.   Aset lain-lain (lanjutan)                                    v.   Other assets (continued)

          Aset yang tidak digunakan (properti terbengkalai)                 Abandoned properties represent Bank and
          adalah aset dalam bentuk properti yang dimiliki                   Subsidiaries’ fixed assets in the form of properties
          Bank Mandiri dan Entitas Anak, dimana bagian                      which majority part of the property were not used
          properti tersebut secara mayoritas tidak                          for Bank and Subsidiaries’ business operational
          digunakan untuk kegiatan usaha operasional                        activity.
          Bank Mandiri dan Entitas Anak.

          AYDA dan properti terbengkalai disajikan                          Repossessed assets and abandoned properties
          sebesar nilai bersih yang dapat direalisasi (net                  are presented at their net realizable values. Net
          realizable value). Nilai bersih yang dapat                        realizable value is the fair value of the repossessed
          direalisasi adalah nilai wajar agunan yang diambil                assets less estimated costs to sell the repossessed
          alih dikurangi dengan estimasi biaya untuk                        assets. Differences between the net realizable
          menjual AYDA tersebut. Selisih antara nilai                       value and the proceeds from disposal of the
          bersih yang dapat direalisasi dengan hasil                        repossessed assets are recognised as current
          penjualan AYDA diakui sebagai keuntungan atau                     year’s gain or loss at the year of disposal.
          kerugian pada periode berjalan pada saat dijual.

          Ijarah adalah akad pemindahan hak guna                            Ijarah is a contract involving the transfer of right of
          (manfaat) atas suat aset dalam waktu tertentu                     use (benefit) of an asset for a specific period which
          dengan pembayaran sewa (ujrah) tanpa diikuti                      the lessee pays rent (ujrah) without the transfer of
          dengan pemindahan kepemilikan aset itu sendiri.                   ownership of the asset itself. Ijarah muntahiyah
          Ijarah muntahiyah bittamlik adalah penyediaan                     bittamlik is the provision of funds to transfer the
          dana dalam rangka memindahkan hak guna atau                       right of use or benefit of goods or services based
          manfaat dari suatu barang atau jasa berdasarkan                   on a lease transaction with an option to transfer
          transaksi sewa dengan opsi pemindahan                             ownership of the goods to the lessee. The transfer
          kepemilikan      barang      kepada     penyewa.                  of ownership of the leased object to the lessee in
          Perpindahan hak milik objek sewa kepada                           ijarah muntahiyah bittamlik can be executed as a
          penyewa dalam ijarah muntahiyah bittamlik dapat                   grant. Ijarah revenue receivables are recognised at
          dilakukan dengan hibah. Piutang pendapatan                        the due date which equal to the outstanding rent
          ijarah diakui pada saat jatuh tempo sebesar sewa                  amount and presented at the net realisable value,
          yang belum diterima dan disajikan sebesar nilai                   which is the outstanding balance of the
          bersih yang dapat direalisasikan, yakni sebesar                   receivables.
          saldo piutang.

          Beban-beban       yang      berkaitan     dengan                  Expenses for maintaining repossessed assets and
          pemeliharaan AYDA dan properti terbengkalai                       abandoned properties are recognised in the
          dibebankan ke laporan laba rugi dan penghasilan                   current year’s consolidated statement of profit or
          komprehensif lain konsolidasian periode berjalan                  loss and other comprehensive income as incurred.
          pada saat terjadinya. Bila terjadi penurunan nilai                Any permanent impairment loss that occurred will
          yang bersifat permanen, maka nilai tercatatnya                    be deducted from the carrying amount and be
          dikurangi untuk mengakui penurunan tersebut                       charged to the current year’s consolidated
          dan kerugiannya dibebankan pada laporan laba                      statement of profit or loss and other
          rugi dan penghasilan komprehensif lain                            comprehensive income. Refer to Note 2t for
          konsolidasian tahun berjalan. Lihat Catatan 2t                    changes in accounting policy to determine
          untuk kebijakan akuntansi atas penyisihan                         impairment losses on repossessed assets and
          kerugian AYDA dan properti terbengkalai.                          abandoned properties.

     w. Liabilitas segera                                              w. Obligations due immediately

          Liabilitas segera dicatat pada saat timbulnya                     Obligations due immediately are recorded at the
          liabilitas, baik kepada masyarakat maupun                         time the obligations occurred to customers or other
          kepada       bank    lain.     Liabilitas  segera                 banks. Obligations due immediately are classified
          diklasifikasikan sebagai liabilitas keuangan yang                 as financial liabilities at amortised cost.
          diukur dengan biaya perolehan diamortisasi.




                                                       118
                                                                                                           ANNUAL REPORT 2023         1185
Page 679
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    x.   Simpanan nasabah                                           x.   Deposits from customers

                         Simpanan      nasabah     adalah    dana     yang               Deposits from customers are the funds placed by
                         ditempatkan oleh masyarakat (tidak termasuk                     customers (excluding banks) to the Bank and
                         bank) kepada Bank dan Entitas Anak yang                         Subsidiaries which operate in banking industry
                         bergerak di bidang perbankan berdasarkan                        based on a fund deposit agreement. Included in
                         perjanjian penyimpanan dana. Termasuk dalam                     this account are demand deposits, saving deposits,
                         pos ini adalah giro, tabungan, deposito berjangka               time deposits and other similar deposits.
                         dan bentuk simpanan lain yang dipersamakan
                         dengan itu.

                         Giro merupakan simpanan nasabah yang dapat                      Demand deposits represent deposits of customers
                         digunakan sebagai alat pembayaran, yang                         that may be used as instruments of payment, and
                         penarikannya dapat dilakukan setiap saat melalui                which may be withdrawn at any time by cheque,
                         cek, kartu Anjungan Tunai Mandiri (ATM), atau                   Automated Teller Machine card (ATM) or by
                         dengan cara pemindahbukuan dengan bilyet giro                   overbooking through written transfer instruction
                         atau sarana perintah pembayaran lainnya.                        (bilyet giro) or other orders of payment or transfers.

                         Tabungan merupakan simpanan nasabah yang                        Saving deposits represent deposits of customers
                         penarikannya hanya dapat dilakukan melalui                      that may only be withdrawn over the counter and
                         counter    dan    ATM     atau    dengan cara                   via ATMs or funds transfers by SMS Banking,
                         pemindahbukuan melalui SMS Banking, Phone                       Phone Banking and Internet Banking when certain
                         Banking dan Internet Banking jika memenuhi                      agreed conditions are met, but which may not be
                         persyaratan yang disepakati, tetapi penarikan                   withdrawn by cheque or other equivalent
                         tidak dapat dilaksanakan dengan menggunakan                     instruments.
                         cek atau instrumen setara lainnya.

                         Deposito berjangka merupakan simpanan                           Time deposits represent customers deposits that
                         nasabah yang penarikannya hanya dapat                           may only be withdrawn after a certain time based
                         dilakukan pada waktu tertentu sesuai dengan                     on the agreement between the customer and the
                         perjanjian antara nasabah dengan Bank.                          Bank. Time deposits are stated at amortised cost
                         Deposito berjangka dinyatakan sebesar nilai                     in the certificates between the Bank and the
                         perolehan diamortisasi sesuai dengan perjanjian                 holders of time deposits.
                         antara pemegang deposito berjangka dengan
                         Bank.

                         Termasuk di dalam giro adalah giro dan                          Included in demand deposits are wadiah demand
                         tabungan wadiah. Giro wadiah dapat digunakan                    deposits and wadiah saving deposits. Wadiah
                         sebagai instrumen pembayaran dan dapat ditarik                  demand deposits can be used as payment
                         setiap saat melalui cek dan bilyet giro. Giro                   instruments and can be withdrawn at any time
                         wadiah serta tabungan wadiah mendapatkan                        using cheque and written transfer instruction (bilyet
                         bonus sesuai dengan kebijakan Entitas Anak.                     giro). Wadiah demand deposits and wadiah saving
                         Simpanan nasabah dalam bentuk giro wadiah                       deposits earn bonus based on Subsidiary’s policy.
                         dan tabungan wadiah dinyatakan sebesar                          Wadiah demand deposits and wadiah saving
                         liabilitas Entitas Anak.                                        deposits are stated at the Subsidiary’s liability
                                                                                         amount.

                         Simpanan nasabah diklasifikasikan sebagai                       Deposits from customers are classified as financial
                         liabilitas keuangan yang diukur dengan biaya                    liabilities at amortised cost. Incremental costs
                         perolehan diamortisasi. Biaya tambahan yang                     directly attributable to acquistion of deposits from
                         dapat diatribusikan secara langsung dengan                      customers are included in the amount of deposits
                         perolehan simpanan nasabah diperhitungkan                       and amortised over the expected life of the
                         dalam jumlah simpanan yang diterima dan                         deposits. Refer to Note 2c for the accounting policy
                         diamortisasi sepanjang estimasi umur simpanan                   for financial liabilities at amortised cost.
                         tersebut. Lihat Catatan 2c untuk kebijakan
                         akuntansi atas liabilitas keuangan yang diukur
                         dengan biaya perolehan diamortisasi.




                                                                      119
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 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     y.   Simpanan dari bank lain                                      y.   Deposits from other banks

          Simpanan dari bank lain terdiri dari liabilitas                   Deposits from other banks represent liabilities to
          terhadap bank lain, baik lokal maupun luar                        local or overseas banks, in the form of demand
          negeri, dalam bentuk giro, tabungan, inter-bank                   deposits, saving deposits, interbank call money
          call money dengan periode jatuh tempo menurut                     with original maturities of 90 days or less based on
          perjanjian kurang dari atau 90 hari, deposito                     agreement, time deposits and negotiable certificate
          berjangka dan negotiable certificates of deposits.                of deposits. Deposits from other banks are
          Simpanan dari bank lain dicatat sebagai liabilitas                recorded as liability to other banks.
          terhadap bank lain.

          Di dalam simpanan dari bank lain termasuk                         Included in the deposits from other banks are
          simpanan syariah dalam bentuk giro wadiah.                        sharia deposits in a form of wadiah demand
                                                                            deposits.

          Simpanan dari bank lain diklasifikasikan sebagai                  Deposits from other banks are classified as
          liabilitas keuangan yang diukur dengan biaya                      financial liabilities at amortised cost. Incremental
          perolehan diamortisasi. Biaya tambahan yang                       costs directly attributable to acquisition of deposits
          dapat diatribusikan secara langsung dengan                        from other banks are included in the amount of
          perolehan simpanan diperhitungkan dalam                           deposits and amortised over the expected life of
          jumlah simpanan yang diterima dan diamortisasi                    the deposits. Refer to Note 2c for the accounting
          sepanjang estimasi umur simpanan tersebut.                        policy for financial liabilities at amortised cost.
          Lihat Catatan 2c untuk kebijakan akuntansi atas
          liabilitas keuangan yang diukur dengan biaya
          perolehan diamortisasi.

     z.   Kontrak asuransi                                             z.   Insurance contract

          Kontrak asuransi adalah kontrak yang diterbitkan                  Insurance contracts is a contract issued by
          oleh perusahaan asuransi dimana perusahaan                        insurance companies which the insurer accepts
          asuransi menerima risiko asuransi yang                            significant insurance risk from the policyholders.
          signifikan dari pemegang polis. Risiko asuransi                   Significant insurance risk is defined as the
          yang      signifikan    didefinisikan     sebagai                 possibility of paying significantly more benefit to
          kemungkinan membayar manfaat yang signifikan                      the policyholder upon the occurrence of insured
          kepada tertanggung apabila suatu kejadian yang                    event compared to the minimum benefit payable in
          diasuransikan terjadi dibandingkan dengan                         a scenario where the insured event does not occur.
          manfaat minimum yang akan dibayarkan apabila                      Scenarios that are considered are those with
          risiko yang diasuransikan tidak terjadi. Skenario-                commercial substance.
          skenario yang diperhatikan adalah skenario yang
          mengandung unsur komersial.

          Entitas Anak menerbitkan kontrak asuransi yang                    The Subsidiaries issue insurance contracts that
          menerima risiko asuransi yang signifikan dari                     accepted significant insurance risk from the
          pemegang polis. Entitas Anak mendefinisikan                       policyholders. The Subsidiaries defines significant
          risiko   asuransi    yang   signifikan   sebagai                  insurance risk as the possibility of having to pay
          kemungkinan membayar manfaat pada saat                            benefits on the occurrence of an insured event of
          terjadinya suatu kejadian yang diasuransikan,                     at least 10% more than the benefits payable if the
          yang setidaknya 10% lebih besar dari manfaat                      insured event did not occur. When an insurance
          yang dibayarkan jika kejadian yang diasuransikan                  contract does not have significant insurance risk, it
          tidak terjadi. Jika suatu kontrak asuransi tidak                  is classified as investment contracts.
          mengandung risiko asuransi yang signifikan,
          maka kontrak tersebut diklasifikasikan sebagai
          kontrak investasi.




                                                       120
                                                                                                          ANNUAL REPORT 2023         1187
Page 681
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    z.   Kontrak asuransi (lanjutan)                                z.   Insurance contract (continued)

                         Entitas Anak menerbitkan kontrak asuransi untuk                 The Subsidiaries issues insurance contracts for
                         produk asuransi tradisional dan produk asuransi                 traditional insurance product and investment-linked
                         yang dikaitkan dengan investasi. Kedua jenis                    insurance product. Both of these products have
                         produk ini mempunyai risiko asuransi yang                       significant insurance risk.
                         signifikan.

                         Produk-produk dari Entitas Anak dibagi                          The Subsidiaries’s products are divided into the
                         berdasarkan kategori sebagai berikut:                           following main categories:
                         • Asuransi jiwa tradisional non-participating,                  • Traditional non-participating life insurance,
                             memberikan perlindungan untuk menutupi                           provide protection to cover the risk of death,
                             risiko kematian, kecelakaan, penyakit kritis                     accident, critical illness, and health of the
                             dan kesehatan dari pemegang polis. Jumlah                        insured. The basic of sum insured will be paid
                             uang pertanggungan akan dibayarkan pada                          upon the occurrence of the risks covered.
                             saat terjadinya risiko yang ditanggung.
                         • Unit-link,      produk      asuransi    dengan                •   Unit-link, is the insurance product with single
                             pembayaran premi tunggal maupun reguler                         or regular premium payment which is linked to
                             yang dikaitkan dengan investasi yang                            investment products, which provides a
                             memberikan kombinasi manfaat proteksi dan                       combined       benefit   of   protection   and
                             manfaat investasi.                                              investment.

                         Ketika sebuah kontrak telah diklasifikasi sebagai               Once a contract has been classified as an
                         kontrak asuransi, reklasifikasi terhadap kontrak                insurance contract, no reclassification could be
                         tersebut tidak dapat dilakukan kecuali ketentuan                performed subsequently unless the terms of the
                         perjanjian kemudian diamendemen. Seluruh                        agreement are later amended. All insurance
                         produk asuransi yang diterbitkan oleh Entitas                   products issued by the Subsidiaries has significant
                         Anak mempunyai risiko asuransi yang signifikan.                 insurance risk.

                         Entitas Anak memisahkan komponen deposit dari                   The Subsidiary separates the deposit component
                         kontrak unit-link seperti yang disyaratkan oleh                 from unit-link contract as required by SFAS
                         PSAK 62 jika kondisi-kondisi di bawah ini                       No. 62 when both the following conditions are met:
                         terpenuhi:
                         -    Entitas Anak dapat mengukur komponen                       -   The Subsidiaries can measure separately the
                              “deposit” secara terpisah (termasuk opsi                       “deposit” component (including any embedded
                              penyerahan      melekat,    yaitu    tanpa                     submission option, i.e. without taking into
                              memperhitungkan komponen “asuransi”);                          account the “insurance” component);
                         -    Kebijakan akuntansi Entitas Anak tidak                     -   The Subsidiaries’s accounting policies do not
                              mensyaratkan untuk mengakui semua hak                          require to recognise all rights and obligations
                              dan liabilitas yang timbul dari komponen                       arising from the “deposit” component.
                              “deposit”.

                         Entitas Anak tidak memisahkan komponen                          The Subsidiaries does not separate the deposit
                         deposit dikarenakan hanya salah satu kondisi di                 component because only one of the above
                         atas yang terpenuhi.                                            conditions is met.

                         Pengujian kecukupan liabilitas                                  Liability adequacy test

                         Pengujian kecukupan liabilitas dilakukan pada                   Liability adequacy testing is performed at reporting
                         tanggal pelaporan untuk kontrak secara individual               date for contract individually or group of products
                         ataupun per kelompok produk, ditentukan sesuai                  determined in accordance with the Subsidiaries’s
                         dengan cara Entitas Anak memperoleh,                            method of acquiring, servicing and measuring the
                         memelihara dan mengukur profitabilitas dari                     profitability of its insurance contracts.
                         kontrak asuransi tersebut.




                                                                      121
1188 PT Bank Mandiri (Persero) Tbk
Page 682
 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                             KEUANGAN   2023
                                                                                                              Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                          (continued)
     z.   Kontrak asuransi (lanjutan)                                    z.   Insurance contract (continued)
          Pengujian kecukupan liabilitas (lanjutan)                           Liability adequacy test (continued)
          Untuk asuransi jiwa, liabilitas kepada pemegang                     For life insurance, the liabilities to policyholder in
          polis khususnya liabilitas untuk klaim masa                         particular the liabilities for future claim is tested to
          depan diuji untuk menentukan apakah liabilitas                      determine whether the liabilities sufficient to cover
          tersebut cukup untuk menutupi semua arus kas                        all related future cash out flow including all
          keluar di masa depan termasuk semua manfaat                         guaranteed benefit and guaranteed additional
          yang dijamin dan manfaat tambahan yang                              benefit, non-guaranteed participation benefit
          dijamin, manfaat partisipasi yang tidak dijamin                     feature (if any), all expenses for policies issuance
          (jika ada), semua biaya untuk penerbitan polis                      and maintenance, as well as reflecting the future
          dan pemeliharaan polis, serta mencerminkan                          cash inflow, i.e. future premium receipt. The
          arus kas masuk masa depan yaitu penerimaan                          liabilities are calculated based on discounted cash
          premi masa depan, yaitu premi yang diterima di                      flow basis for all related cash flows i.e. both of
          masa depan. Liabilitas dihitung berdasarkan                         cash outflows and cash inflows as mentioned
          diskonto dari arus kas untuk semua arus kas                         above using a set of most recent best estimate
          yang terkait yaitu arus kas keluar dan arus kas                     assumptions set by the Subsidiaries’s appointed
          masuk seperti yang disebutkan di atas dengan                        actuary, includes mortality, morbidity, lapses,
          menggunakan seperangkat asumsi estimasi                             expenses, inflation rates, and interest rate,
          terbaik terkini yang ditetapkan oleh aktuaris                       assumptions as well as margin for adverse
          Entitas Anak, termasuk asumsi tingkat mortalita,                    deviation assumptions. Subsidiaries operates in life
          morbidita, tingkat pembatalan polis, biaya, tingkat                 insurance use Gross Premium Reserve in the
          inflasi dan tingkat suku bunga, serta asumsi                        premium allowance calculation for future policy
          marjin atas risiko pemburukan. Entitas Anak yang                    benefits to the policyholders using actuary
          bergerak      dalam     bidang     asuransi     jiwa                assumptions with best estimate and margin for
          menerapkan metode Gross Premium Reserve                             adverse deviation, therefore liability adequacy test
          dalam perhitungan cadangan premi atas manfaat                       is not required.
          polis masa depan kepada pemegang polis
          dengan       menggunakan        asumsi      aktuaria
          berdasarkan asumsi estimasi terbaik dan marjin
          atas risiko pemburukan, sehingga pengujian
          kecukupan liabilitas tidak diperlukan lagi.
          Reasuransi                                                          Reinsurance
          Entitas Anak mereasuransikan sebagian porsi                         The Subsidiaries reinsure a portion of its risk to
          risikonya kepada perusahaan reasuradur. Jumlah                      reinsurance companies. The amount of premium
          premi yang dibayar atau porsi premi atas                            paid or portion of premium from prospective
          transaksi reasuransi prospektif diakui selama                       reinsurance transactions is recognised over the
          periode kontrak asuransi sesuai dengan proporsi                     reinsurance contract in proportion with the
          jumlah proteksi reasuransi yang diterima.                           protection received.
          Aset reasuransi termasuk saldo yang diharapkan                      Reinsurance assets include balances expected to
          dibayarkan oleh perusahaan reasuransi untuk                         be recovered from reinsurance companies for
          ceded liabilitas manfaat polis masa depan, ceded                    ceded liability for future policy benefits, ceded
          estimasi liabilitas klaim dan ceded cadangan atas                   estimated claim liabilities and ceded unearned
          premi yang belum merupakan pendapatan.                              premiums allowance. Recovery amount from
          Jumlah      manfaat      yang   ditanggung   oleh                   reinsurers are estimated in a consistent manner
          reasuradur diperkirakan secara konsisten sesuai                     with the liability associated with the reinsurance
          dengan liabilitas yang terkait dengan polis                         policy.
          reasuransi.
          Entitas Anak menyajikan aset reasuransi secara                      Subsidiaries presents separately reinsurance asset
          terpisah sebagai aset atas liabilitas manfaat polis                 of future policy benefit liabilities, unearned
          masa depan, cadangan atas premi yang belum                          premium allowance, and estimated claim liabilities.
          merupakan pendapatan dan estimasi liabilitas
          klaim.
          Jika aset reasuransi mengalami penurunan nilai,                     If a reinsurance asset is impaired, the Subsidiaries
          Entitas Anak mengurangi nilai tercatat dan                          deducted the carrying amount accordingly and
          mengakui kerugian penurunan nilai tersebut                          recognises that impairment loss in the consolidated
          dalam laporan laba rugi dan penghasilan                             statement of profit or loss and other
          komprehensif lain konsolidasian. Aset reasuransi                    comprehensive income. A reinsurance asset is
          mengalami penurunan nilai jika ada bukti objektif,                  impaired if there is objective evidence, as a result
          sebagai akibat dari suatu peristiwa yang terjadi                    of an event that occurred after initial recognition of
          setelah pengakuan awal aset reasuransi, bahwa                       the reinsurance asset, that the Subsidiary may not
          Entitas Anak tidak dapat menerima seluruh                           receive all amounts due to it is below the
          jumlah karena di bawah syarat-syarat kontrak                        requirement of the contract, and the impact on the
          dan dampak pada jumlah yang akan diterima dari                      amounts that the Subsidiary will receive from the
          reasuradur dapat diukur secara andal.                               reinsurer can be reliably measured.


                                                         122
                                                                                                             ANNUAL REPORT 2023          1189
Page 683
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    z.   Kontrak asuransi (lanjutan)                                z.   Insurance contract (continued)

                         Liabilitas manfaat polis masa depan                             Liability for future policy benefits

                         Liabilitas manfaat polis masa depan merupakan                   The liabilities for future policy benefits represent
                         nilai sekarang estimasi manfaat polis masa                      the present value of estimated future policy
                         depan yang akan dibayarkan kepada pemegang                      benefits to be paid to policyholders or their heirs
                         polis atau ahli warisnya dikurangi dengan nilai                 less present value of estimated future premiums to
                         sekarang dari estimasi premi masa depan yang                    be received from the policyholders and recognised
                         akan diterima dari pemegang polis dan diakui                    consistently with the recognition of premium
                         pada saat pengakuan pendapatan premi.                           income. The liabilities for future policy benefits are
                         Liabilitas manfaat polis masa depan ditentukan                  determined and computed based on certain
                         dan dihitung dengan menggunakan rumus                           formula by the Subsidiaries’s actuary.
                         tertentu oleh aktuaris Entitas Anak.

                         Entitas Anak menghitung liabilitas manfaat polis                The Subsidiaries calculate the liability for future
                         masa depan dengan menggunakan metode                            policy benefits using Gross Premium Reserve
                         Gross Premium Reserve yang mencerminkan                         method that reflect the present value of estimated
                         nilai kini estimasi pembayaran seluruh manfaat                  payments of all the guaranteed benefits including
                         yang diperjanjikan termasuk seluruh opsi yang                   all the embedded options available, the present
                         disediakan, nilai kini estimasi seluruh biaya yang              value estimated of all handling costs incurred and
                         dikeluarkan     dan     juga   mempertimbangkan                 also considering the future premium receipt.
                         penerimaan premi di masa depan.

                         Kenaikan/(penurunan) liabilitas manfaat polis                   Increase/(decrease) in liabilities for future policy
                         masa depan diakui dalam laporan laba rugi dan                   benefits is recognised in the current year’s
                         penghasilan komprehensif lain konsolidasian                     consolidated statement of profit or loss and other
                         tahun berjalan.                                                 comprehensive income.

                         Liabilitas kepada pemegang polis unit-link diakui               The liability to unit-link policyholders is recognised
                         pada saat penerimaan dana dikonversi menjadi                    at the time the funds received are converted into
                         unit setelah dikurangi biaya-biaya dan akan                     units, net of related expenses and will increase or
                         bertambah atau berkurang sesuai dengan nilai                    decrease in accordance with effective net asset
                         aset bersih efektif yang berlaku.                               value.

                         Penerimaan dana dari nasabah untuk produk                       Funds received from customers for non-sharia unit-
                         unit-link non-syariah diakui sebagai pendapatan                 link products are recognised as gross premium
                         premi bruto dalam laporan laba rugi dan                         income in the consolidated statement of profit or
                         penghasilan komprehensif lain konsolidasian.                    loss and other comprehensive income. Liabilities to
                         Liabilitas kepada pemegang polis unit-link diakui               unit-link policyholders are recognised in the
                         di laporan posisi keuangan konsolidasian dan                    consolidated statement of financial position and
                         dihitung menggunakan metode cadangan atas                       computed based on unearned premium reserves
                         premi yang belum merupakan pendapatan yang                      using daily method from insurance cost of mortality
                         dihitung dengan menggunakan metode harian                       risk plus reserves for the accumulated invested
                         berdasarkan biaya asuransi atas risiko mortalitas,              fund of unit-link policyholders.
                         ditambah cadangan atas akumulasi dana
                         investasi pemegang polis.

                         Setiap bunga, keuntungan atau kerugian dari                     Any interest, gain or loss due to increases or
                         kenaikan atau penurunan nilai pasar investasi                   decreases in market value of investments are
                         dicatat sebagai pendapatan atau beban, disertai                 recorded as income or expense, with a
                         dengan pengakuan kenaikan atau penurunan                        corresponding recognition of increase or decrease
                         liabilitas kepada pemegang polis unit-link di                   in liability to unit-link policyholders in the statement
                         laporan laba rugi dan penghasilan komprehensif                  of profit or loss and other comprehensive income
                         lain konsolidasian dan liabilitas kepada                        and liability to unit-link policyholders in the
                         pemegang polis unit-link di laporan posisi                      consolidated statement of financial position.
                         keuangan konsolidasian.

                         Penerimaan dana dari nasabah untuk produk                       Funds received from customers for sharia unit-link
                         unit-link syariah diakui sebagai liabilitas kepada              products are recognised as liabilities to unit-link
                         pemegang polis unit-link di laporan posisi                      policyholders in the consolidated statement of
                         keuangan konsolidasian sebesar jumlah yang                      financial position for the amount received net of the
                         diterima setelah dikurangi bagian fee untuk                     portion representing the Subsidiary fees in
                         Entitas    Anak     dalam    rangka      mengelola              managing the unit-link product income.
                         pendapatan dari produk unit-link.



                                                                      123
1190 PT Bank Mandiri (Persero) Tbk
Page 684
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)

     z.   Kontrak asuransi (lanjutan)                                  z.   Insurance contract (continued)

          Risiko yang belum jatuh tempo                                     Unexpired risk reserve

          Liabilitas untuk manfaat kontraktual yang                         A liability for contractual benefits that are expected
          diharapkan akan timbul di masa depan dicatat                      to be incurred in the future is recorded when the
          pada saat premi diakui. Liabilitas ditetapkan                     premiums are recognised. The liability is
          sebagai penjumlahan atas nilai diskonto yang                      determined as the sum of the expected discounted
          diharapkan dari pembayaran manfaat dan biaya                      value of the benefit payments and the future
          administrasi masa depan yang berkaitan                            administration expenses that are directly related to
          langsung dengan kontrak asuransi, dikurangi                       the insurance contract, less the expected
          dengan nilai diskonto yang diharapkan atas premi                  discounted value of the theoretical premiums that
          teoritis yang dibutuhkan untuk memenuhi                           would be required to meet the benefits and
          manfaat dan biaya administrasi berdasarkan                        administration expenses based on the valuation
          asumsi penilaian yang digunakan (penilaian                        assumptions used (the premiums valuation). That
          premi). Liabilitas tersebut didasarkan pada                       liability is based on assumptions such as mortality,
          asumsi-asumsi seperti kematian, persistensi,                      persistency, maintenance expense and investment
          biaya pemeliharaan dan pendapatan investasi                       income that are established at the time the contract
          yang ditetapkan pada saat kontrak asuransi                        is issued. A margin for adverse deviations is
          dikeluarkan. Sebuah marjin untuk penyimpangan                     included in the used assumptions.
          yang merugikan termasuk dalam asumsi yang
          digunakan.

     aa. Efek-efek yang diterbitkan                                    aa. Debt securities issued

          Efek-efek yang diterbitkan oleh Bank Mandiri dan                  Debt securities issued by the Bank and its
          Entitas Anak, termasuk obligasi, subordinasi                      Subsidiaries, including bonds, subordinated notes,
          notes, medium term notes, traveller’s cheques                     medium term notes, travelers’ cheques and
          dan Sertifikat Investasi Mudharabah Antarbank                     Interbank Mudharabah Investment Certificate
          (SIMA) pada pengukuran awal disajikan sebesar                     (SIMA), are initially measured at fair value plus
          nilai wajar ditambah dengan biaya transaksi yang                  directly attributable transaction costs to the debt
          dapat       diatribusikan    langsung    dengan                   securities issued. Subsequently, transactions cost
          perolehan/penerbitan efek-efek yang diterbitkan.                  are amortised using effective interest rate up to the
          Biaya transaksi kemudian diamortisasi dengan                      maturity of debt securities issued.
          suku bunga efektif sampai dengan jatuh tempo
          dari efek-efek yang diterbitkan.

          Efek-efek yang diterbitkan diklasifikasikan                       Debt securities issued are classified as financial
          sebagai liabilitas keuangan yang diukur dengan                    liabilities at amortised cost. Refer to Note 2c for the
          biaya perolehan diamortisasi. Lihat Catatan 2c                    accounting policy for financial liabilities at
          untuk kebijakan akuntansi atas liabilitas                         amortised cost.
          keuangan yang diukur dengan biaya perolehan
          diamortisasi.

     ab. Pinjaman yang diterima                                        ab. Fund borrowings

          Pinjaman yang diterima merupakan dana yang                        Fund borrowings represent funds received from
          diterima dari bank lain, Bank Indonesia atau                      other banks, Bank Indonesia or other parties with
          pihak lain dengan liabilitas pembayaran kembali                   the obligation of repayment in accordance with the
          sesuai dengan persyaratan perjanjian pinjaman.                    requirements of the loan agreement.

          Pada pengukuran awal, pinjaman yang diterima                      Fund borrowings are initially measured at fair value
          disajikan sebesar nilai wajar dikurangi dengan                    minus directly attributable transaction costs. Fund
          biaya transaksi yang dapat diatribusikan                          borrowings are classified as financial liabilities at
          langsung dengan perolehan/penerbitan pinjaman                     amortised cost. Refer to Note 2c for the accounting
          yang      diterima.  Pinjaman      yang   diterima                policy for financial liabilities at amortised cost.
          diklasifikasikan sebagai liabilitas keuangan yang
          diukur dengan biaya perolehan diamortisasi.
          Lihat Catatan 2c untuk kebijakan akuntansi untuk
          liabilitas keuangan yang diukur dengan biaya
          perolehan diamortisasi.



                                                       124
                                                                                                           ANNUAL REPORT 2023         1191
Page 685
            MAIN                         MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                         (continued)

                    ab. Pinjaman yang diterima (lanjutan)                              ab. Fund borrowings (continued)

                         Fasilitas pengelolaan likuiditas berdasarkan                       The sharia liquidity management facility of Bank
                         prinsip syariah Bank Indonesia (PASBI) yang                        Indonesia (PASBI) received by Sharia Subsidiaries
                         diterima      oleh     Entitas    Anak    Syariah                  is classified as “Fund Borrowings”. Bank Indonesia
                         diklasifikasikan dalam akun “Pinjaman yang                         and the Subsidiary mutually agree to enter into a
                         Diterima”. Bank Indonesia dan Entitas Anak                         wakalah      bil   ististmar contract     for    fund
                         sepakat melakukan akad wakalah bil ististmar                       management, guaranteed by sharia securities. The
                         untuk pengelolaan dana dengan agunan berupa                        funds received are recognised as liabilities to Bank
                         surat berharga syariah. Dana yang diterima                         Indonesia.
                         diakui sebagai liabilitas kepada Bank Indonesia.

                         Bank melakukan pengelolaan dana untuk                              The Bank undertakes fund management for whole
                         kegiatan investasi usaha secara keseluruhan                        business investment activities (mutlaqah). The
                         (mutlaqah). Pengembalian dana kelolaan dan                         return of managed funds and the distribution of
                         pembayaran     hasil   pengelolaan (istitsmar)                     investments return (ististmar) occur upon maturity.
                         dilakukan pada saat pelunasan.

                    ac. Pinjaman dan efek-efek subordinasi                             ac. Subordinated loans and marketable securities

                         Pinjaman dan efek-efek subordinasi pada                            Subordinated loans and marketable securities are
                         pengukuran awal disajikan sebesar nilai wajar                      initially measured at fair value less directly
                         dikurangi dengan biaya transaksi yang dapat                        attributable transaction costs. Subsequently,
                         diatribusikan         langsung         dengan                      transactions costs are amortised using the
                         perolehan/penerbitan pinjaman dan efek-efek                        effective interest rate up to the maturity of
                         subordinasi.    Biaya     transaksi kemudian                       subordinated loans and marketable securities.
                         diamortisasi dengan suku bunga efektif sampai
                         dengan jatuh tempo dari pinjaman dan efek-efek
                         subordinasi.

                         Pinjaman        dan      efek-efek      subordinasi                Subordinated loans and marketable securities are
                         diklasifikasikan sebagai liabilitas keuangan yang                  classified as financial liabilities at amortised cost.
                         diukur     dengan    biaya       perolehan    yang                 Refer to Note 2c for the accounting policy for
                         diamortisasi. Lihat Catatan 2c untuk kebijakan                     financial liabilities at amortised cost.
                         akuntansi untuk liabilitas keuangan yang diukur
                         dengan biaya perolehan yang diamortisasi.

                    ad. Perpajakan                                                     ad. Income tax

                         Bank Mandiri dan Entitas Anak menerapkan                           Bank Mandiri and Subsidiaries apply SFAS No. 46
                         PSAK 46 (Revisi 2014) tentang “Pajak                               (Revised 2014) regarding “Income Tax” which
                         Penghasilan”, yang mengharuskan Bank Mandiri                       requires Bank Mandiri and Subsidiaries to take into
                         dan Entitas Anak memperhitungkan konsekuensi                       account the consequnces of the current and future
                         pajak kini dan pajak di masa depan                                 tax (settlement) from the carrying amount of assets
                         (penyelesaian) dari jumlah tercatat aset (liabilitas)              (liabilities) that are recognised in the consolidated
                         yang diakui dalam laporan posisi keuangan dan                      statement of financial position, and transactions
                         transaksi-transaksi serta peristiwa lain yang                      and other events occured in the current period.
                         terjadi dalam tahun berjalan.

                         Beban pajak terdiri dari pajak kini dan pajak                      The tax expense comprises current and deferred
                         tangguhan. Pajak diakui dalam laporan laba rugi                    tax. Tax is recognised in the consolidated
                         dan      penghasilan       komprehensif       lain                 statement of profit or loss and other
                         konsolidasian, kecuali jika pajak tersebut terkait                 comprehensive income, except to the extent that it
                         dengan transaksi atau kejadian yang langsung                       relates to items recognised directly in equity. In this
                         diakui ke ekuitas. Dalam hal ini, pajak tersebut                   case, the tax is recognised in other comprehensive
                         masing-masing     diakui    dalam    penghasilan                   income or directly in equity, respectively.
                         komprehensif lain atau ekuitas.




                                                                         125
1192 PT Bank Mandiri (Persero) Tbk
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 CORPORATE                   ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                        2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                         (continued)

     ad. Perpajakan (lanjutan)                                          ad. Income tax (continued)

         Manajemen Grup mengevaluasi secara periodik                         The Group’s management periodically evaluates
         implementasi terhadap peraturan perpajakan                          the implementation of prevailing tax regulations
         yang berlaku terutama yang memerlukan                               especially for those that are subject to further
         interpretasi    lebih     lanjut     mengenai                       interpretation for its implementation, including
         pelaksanaannya termasuk juga evaluasi terhadap                      evaluation on tax assessment letters received from
         surat ketetapan pajak yang diterima dari kantor                     tax authorities. Futhermore, the Bank establishes
         pajak. Lebih lanjut, Bank Mandiri membentuk                         provisions based on the if necessary amounts
         cadangan, jika dianggap perlu berdasarkan                           expected to be paid to the tax authorities.
         jumlah yang diestimasikan akan dibayarkan ke
         kantor pajak.

         Bank Mandiri dan Entitas Anak menerapkan                            Bank Mandiri and Subsidiaries apply the balance
         metode liabilitas laporan posisi keuangan                           sheet liability method to determine income tax
         (balance       sheet    liability  method)     untuk                expense. Under the balance sheet liability method,
         menentukan beban pajak penghasilan. Menurut                         deferred tax assets and liabilities are recognised
         metode liabilitas laporan posisi keuangan, aset                     for all temporary differences arising between the
         dan utang pajak tangguhan diakui untuk semua                        tax base of assets and liabilities and their carrying
         perbedaan temporer antara nilai aset dan                            amount in the consolidated statement of financial
         liabilitas yang tercatat di laporan posisi keuangan                 position at each reporting date. This method also
         dengan dasar pengenaan pajak atas aset dan                          requires the recognition of unused future tax
         liabilitas tersebut pada setiap tanggal pelaporan.                  benefits, to the extent that realisation of such
         Metode       ini   juga     mensyaratkan     adanya                 benefits is probable in the future.
         pengakuan manfaat pajak di masa datang yang
         belum digunakan apabila besar kemungkinan
         bahwa manfaat tersebut dapat direalisasikan di
         masa yang akan datang.

         Aset pajak tangguhan diakui apabila terdapat                        Deferred tax assets are recognised only to the
         kemungkinan besar bahwa jumlah laba fiskal                          extent that is probable that future taxable income
         pada masa datang akan memadai untuk                                 will be sufficient to compensate deferred tax asset
         mengkompensasi aset pajak tangguhan yang                            arising from temporary differences.
         muncul akibat perbedaan temporer.

         Pajak tangguhan dihitung dengan menggunakan                         Deferred tax is calculated using tax rates enacted
         tarif pajak yang berlaku atau secara substansial                    or substantively applied to the period during which
         diberlakukan pada periode dimana aset tersebut                      the asset is realised or the liability is settled. The
         direalisasi atau liabilitas tersebut diselesaikan.                  changes to the carrying value of deferred tax
         Perubahan nilai tercatat aset dan liabilitas pajak                  assets and liabilities due to the changes of tax
         tangguhan yang disebabkan oleh perubahan tarif                      rates are charged in the current year, consolidated
         pajak dibebankan pada laporan laba rugi dan                         statement of profit or loss and other
         penghasilan komprehensif lain konsolidasian                         comprehensive income except for transactions
         tahun berjalan, kecuali untuk transaksi-transaksi                   which previously have been directly charged or
         yang sebelumnya telah langsung dibebankan                           credited to equity.
         atau dikreditkan ke ekuitas.

         Koreksi atas liabilitas pajak diakui pada saat                      Adjustments to taxation obligations are recorded
         surat ketetapan pajak diterima, atau apabila                        when tax assessment letter is received or, if
         diajukan keberatan dan/atau banding, maka                           objection/appeal is submitted, adjustments are
         koreksi diakui pada saat keputusan atas                             recognised when the result of objection/appeal is
         keberatan dan/atau banding tersebut diterima.                       received. Management provides provision for
         Manajemen juga dapat membentuk pencadangan                          future tax liability at the estimated amount that will
         terhadap liabilitas pajak di masa depan sebesar                     be payable to the tax office if there is a probable
         jumlah yang diestimasikan akan dibayarkan ke                        tax    exposure,        based    on    management’s
         kantor pajak jika berdasarkan evaluasi pada                         assessment as of the date of consolidated
         tanggal laporan posisi keuangan konsolidasian                       statement of financial position. Assumptions and
         terdapat risiko pajak yang probable. Asumsi dan                     estimation used in the calculation of provision may
         estimasi yang digunakan dalam perhitungan                           involve element of uncertainty.
         pembentukan cadangan tersebut memiliki unsur
         ketidakpastian.


                                                        126
                                                                                                           ANNUAL REPORT 2023         1193
Page 687
            MAIN                        MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                        (continued)

                    ad. Perpajakan (lanjutan)                                         ad. Income tax (continued)

                         Taksiran pajak penghasilan Bank Mandiri dan                       The estimated corporate income tax of Bank
                         Entitas Anak dihitung untuk masing-masing                         Mandiri and Subsidiaries is calculated for each
                         perusahaan sebagai badan hukum terpisah. Aset                     company as a separate legal entity. Current tax
                         pajak kini (current tax assets) dan liabilitas pajak              assets and current tax liabilities for different legal
                         kini (current tax liabilities) untuk badan hukum                  income entities cannot be set-off in the
                         yang berbeda tidak disalinghapuskan dalam                         consolidated financial statements. Corporate tax
                         laporan keuangan konsolidasian. Utang pajak                       payables and other tax payables of Bank Mandiri
                         penghasilan badan dan utang pajak lainnya Bank                    and Subsidiaries are presented as “Taxes payable“
                         Mandiri dan Entitas Anak disajikan sebagai                        in the consolidated statement of financial position.
                         “Utang pajak” di laporan posisi keuangan
                         konsolidasian.

                         Aset dan liabilitas pajak tangguhan dapat saling                  Deferred income tax assets and liabilities are
                         hapus apabila terdapat hak yang berkekuatan                       offsetted if there is a legally enforceable right to
                         hukum untuk melakukan saling hapus antara aset                    offset current tax assets against current tax
                         dan liabilitas pajak kini dan apabila aset dan                    liabilities and if the deferred income tax assets and
                         liabilitas pajak penghasilan tangguhan dikenakan                  liabilities relate to income taxes levied by the same
                         oleh otoritas perpajakan yang sama, baik atas                     taxation authority on either for the same taxable
                         entitas kena pajak yang sama atau berbeda dan                     entity or different taxable entities where there is an
                         adanya niat untuk melakukan penyelesaian                          intention to settle the balances on a net basis.
                         saldo-saldo tersebut secara neto.

                    ae. Dana syirkah temporer                                         ae. Temporary syirkah funds

                         Dana syirkah temporer adalah dana yang                            Temporary syirkah funds represent investment
                         diterima oleh Entitas Anak. Entitas Anak                          received by a Subsidiary. The Subsidiary has the
                         mempunyai     hak    untuk  mengelola    dan                      right to manage and invest funds in accordance
                         menginvestasikan dana, baik sesuai dengan                         with either the Subsidiary’s policy or restriction set
                         kebijakan   Entitas   Anak  atau   kebijakan                      by the depositors with the agreed profit sharing.
                         pembatasan dari pemilik dana, dengan
                         keuntungan     dibagikan   sesuai    dengan
                         kesepakatan.

                         Hubungan antara Entitas Anak dan pemilik dana                     Relationship between the Subsidiary and the
                         syirkah    temporer      merupakan     hubungan                   owner of temporary syirkah funds are based on
                         kemitraan berdasarkan akad mudharabah                             partnership mudharabah muthlaqah, mudharabah
                         muthlaqah, mudharabah muqayyadah atau                             muqayyadah or musyarakah. The examples of
                         musyarakah. Contoh dari dana syirkah temporer                     temporary syirkah funds are investment funds
                         adalah penerimaan dana dari investasi                             received       from     mudharabah    muthlaqah,
                         mudharabah          muthlaqah,      mudharabah                    mudharabah muqayyadah and other similar
                         muqayyadah dan akun lain yang sejenis.                            accounts.
                         1) Mudharabah muthlaqah adalah mudharabah                         1) Mudharabah            muthlaqah     represents
                              dimana pemilik dana (shahibul maal)                               mudharabah in which the fund owner
                              memberikan kebebasan kepada pengelola                             (shahibul maal) entrusts the fund manager
                              dana    (mudharib/Entitas    Anak)   dalam                        (mudharib/Subsidiary)     in  managing    its
                              pengelolaan investasinya.                                         investment.
                         2) Mudharabah           muqayyadah        adalah                  2) Mudharabah           muqayyadah     represents
                              mudharabah       dimana     pemilik    dana                       mudharabah in which the fund owner sets
                              memberikan batasan kepada pengelola                               restrictions to the fund manager regarding,
                              dana, antara lain mengenai tempat, cara dan                       among others, the place, the means and/or
                              atau obyek investasi.                                             the object of investment.

                         Dana syirkah temporer tidak dapat digolongkan                     Temporary syirkah funds cannot be classified as
                         sebagai liabilitas. Hal ini karena Entitas Anak                   liability because the Subsidiary does not have any
                         tidak mempunyai liabilitas, ketika mengalami                      liability to return the fund to the owners when
                         kerugian, untuk mengembalikan jumlah dana                         experience losses, except for losses due to the
                         awal dari pemilik dana kecuali akibat kelalaian                   Subsidiary’s management negligence or default.
                         atau wanprestasi Entitas Anak. Dana syirkah                       On the other hand, temporary syirkah funds also
                         temporer tidak dapat digolongkan sebagai                          cannot be classified as equity, because of the
                         ekuitas karena mempunyai waktu jatuh tempo                        existence of maturity period and the depositors do
                         dan pemilik dan tidak mempunyai hak                               not have the same rights as the shareholders, such
                         kepemilikan yang sama dengan pemegang                             as voting rights and the rights of realised gain from
                         saham seperti hak voting dan hak atas realisasi                   current asset and other non-investment accounts.
                         keuntungan yang berasal dari aset lancar dan
                         aset non investasi.


                                                                        127
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 CORPORATE                    ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                           Financial
 GOVERNANCE                   & PRACTICES                    RESPONSIBILITY                              KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                      (continued)

     ae. Dana syirkah temporer (lanjutan)                            ae. Temporary syirkah funds (continued)
         Dana syirkah temporer merupakan salah satu                       Temporary syirkah funds represent one of the
         unsur laporan posisi keuangan konsolidasian,                     consolidated statement of financial position
         yang memberikan hak kepada Entitas Anak untuk                    accounts which is in accordance with sharia
         mengelola, termasuk untuk mencampur dana                         principle that provide right to the Subsidiary to
         dimaksud dengan dana lainnya.                                    manage fund, including to combine the funds with
                                                                          the other funds.
         Pemilik dana syirkah temporer memperoleh                         The owner of temporary syirkah funds receive
         bagian atas keuntungan sesuai kesepakatan dan                    parts of profit in accordance with the agreement
         menerima kerugian berdasarkan jumlah dana                        and receive loss based on the proportion to the
         dari masing-masing pihak. Pembagian hasil dana                   total funds. The profit distribution of temporary
         syirkah temporer dapat dilakukan dengan konsep                   syirkah funds might be based on profit sharing or
         bagi hasil atau bagi untung.                                     revenue sharing concept.
     af. Pendapatan   dan   beban     bunga          serta           af. Interest income and           expense      and      sharia
         pendapatan dan beban syariah                                    income and expense
         (i)   Konvensional                                               (i)   Conventional
               Pendapatan dan beban bunga untuk semua                           Interest income and expense for all interest-
               instrumen keuangan dengan interest bearing                       bearing financial instruments are recognised
               dicatat dalam “Pendapatan bunga” dan                             as “Interest income” and “Interest expense” in
               “Beban bunga” di dalam laporan laba rugi                         the consolidated statement of profit or loss
               dan     penghasilan  komprehensif     lain                       and other comprehensive income using the
               konsolidasian menggunakan metode suku                            effective interest method.
               bunga efektif.
               Metode suku bunga efektif adalah metode                          The effective interest method is a method
               yang digunakan untuk menghitung biaya                            used for calculating the amortised cost of
               perolehan diamortisasi dari aset keuangan                        financial assets and liabilities and method for
               atau liabilitas keuangan dan metode untuk                        allocating the interest income or interest
               mengalokasikan pendapatan bunga atau                             expense over the relevant period. The
               beban bunga selama periode yang relevan.                         effective interest rate is the rate that exactly
               Suku bunga efektif adalah suku bunga yang                        discounts estimated future cash payments or
               secara tepat mendiskontokan estimasi                             receipts through the expected life of the
               pembayaran atau penerimaan kas di masa                           financial instrument or, when appropriate, a
               datang selama perkiraan umur dari                                shorter period to obtain the net carrying
               instrumen keuangan, atau jika lebih tepat,                       amount of the financial asset or financial
               digunakan periode yang lebih singkat untuk                       liability. When calculating the effective interest
               memperoleh nilai tercatat bersih dari aset                       rate, the Group estimates cash flows
               keuangan atau liabilitas keuangan. Pada                          considering all contractual terms of the
               saat menghitung suku bunga efektif, Grup                         financial instrument but does not consider
               mengestimasi        arus    kas     dengan                       future credit losses. The calculation includes
               mempertimbangkan seluruh persyaratan                             all commissions, provision and other fees
               kontraktual dalam instrumen keuangan                             received between parties in the contract that
               tersebut, namun tidak mempertimbangkan                           are an integral part of the effective interest
               kerugian kredit di masa datang. Perhitungan                      rate, transaction costs and all other premiums
               ini mencakup seluruh komisi, provisi dan                         or discounts.
               bentuk lain yang diterima oleh para pihak
               dalam kontrak yang merupakan bagian tak
               terpisahkan dari suku bunga efektif, biaya
               transaksi dan seluruh premi atau diskon
               lainnya.

               Jika aset keuangan atau kelompok aset                            Once a financial asset or a group of similar
               keuangan serupa telah diturunkan nilainya                        financial assets has been written down as a
               sebagai akibat kerugian penurunan nilai,                         result of an impairment loss, subsequently,
               maka pendapatan bunga yang diperoleh                             interest income is recognised for the non-
               setelahnya diakui atas bagian aset keuangan                      impaired portion of the impaired financial
               yang tidak mengalami penurunan nilai dari                        assets using the interest rate used to discount
               aset keuangan yang mengalami penurunan                           the future cash flows for measuring the
               nilai, berdasarkan suku bunga yang                               impairment loss.
               digunakan untuk mendiskonto arus kas
               masa datang dalam menghitung kerugian
               penurunan nilai.



                                                      128
                                                                                                          ANNUAL REPORT 2023          1195
Page 689
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    af. Pendapatan   dan   beban     bunga      serta               af. Interest income and expense            and    sharia
                        pendapatan dan beban syariah (lanjutan)                         income and expense (continued)

                         (ii) Pendapatan syariah                                         (ii) Sharia income

                             Di dalam pendapatan dan beban bunga                             Included in interest income and expense are
                             terdapat      pendapatan     dan    beban                       sharia income and expense based on sharia
                             berdasarkan prinsip syariah. Pendapatan                         principle. The Subsidiary's income as a fund
                             pengelolaan dana oleh Entitas Anak sebagai                      manager (mudharib) consists of income from
                             mudharib       terdiri atas    pendapatan                       murabahah and istishna transactions, income
                             pembiayaan dengan akad murabahah,                               from ijarah (leasing), income from profit
                             istishna, ijarah dan pendapatan dari bagi                       sharing of mudharabah, musyarakah financing
                             hasil yaitu mudharabah, musyarakah dan                          and other main operating income.
                             pendapatan usaha utama lainnya.

                             Pengakuan           keuntungan  transaksi                       Murabahah transaction income recognition
                             murabahah dengan pembayaran tangguh                             through deferred payment or installment is
                             atau secara angsuran dilakukan selama                           executed during the period of the contract
                             periode akad sesuai dengan metode tingkat                       based on effective rate of return method
                             imbal hasil efektif.                                            (annuity).

                             Berdasarkan PSAK 102 (Revisi 2019),                             According to SFAS No. 102 (Revised 2019),
                             pendapatan murabahah yang termasuk                              murabahah income which includes deferred
                             marjin ditangguhkan dan pendapatan                              margin and administrative income are
                             administrasi, diakui dengan menggunakan                         recognised as income using method that
                             metode setara tingkat imbal hasil efektif,                      equivalent to the effective rate of return
                             yaitu tingkat imbal hasil setara yang akan                      method, which is the rate that exactly
                             mendiskonto      secara    tepat   estimasi                     discounts estimated future cash payments or
                             pembayaran atau penerimaan kas di masa                          receipts through the expected life of the
                             datang sepanjang perkiraan umur instrumen                       financial instrument or a shorter period, where
                             keuangan tersebut atau, jika lebih tepat                        appropriate, for the net carrying amount of the
                             untuk masa yang lebih singkat untuk nilai                       financial asset or financial liability. The
                             tercatat bersih dari aset keuangan atau                         calculation takes into account all contractual
                             liabilitas keuangan. Perhitungan dilakukan                      terms and condition the financial assets and
                             dengan memperhitungkan seluruh syarat                           includes any fees or incremental costs that are
                             dan ketentuan kontraktual dari instrumen                        directly attributable to the assets and are an
                             keuangan dan biaya tambahan yang timbul                         integral part of the effective rate of return.
                             secara langsung untuk instrumen tersebut
                             dan merupakan bagian tidak terpisahkan dari
                             tingkat imbal hasil.

                             Pendapatan     istishna   diakui    dengan                      Income from istishna is recognised using the
                             menggunakan         metode       persentase                     percentage of completion or full completion
                             penyelesaian atau metode akad selesai.                          method.

                             Pendapatan ijarah diakui selama masa akad                       Income     from      ijarah    is    recognised
                             secara proporsional.                                            proportionally during the contract period.

                             Pendapatan bagi hasil musyarakah yang                           Profit sharing income for passive partner in
                             menjadi hak mitra pasif diakui dalam periode                    musyarakah is recognised in the period when
                             terjadinya hak bagi hasil sesuai nisbah yang                    the profit sharing rights arise in accordance
                             disepakati.                                                     with the agreed profit sharing ratio.

                             Pendapatan bagi hasil mudharabah diakui                         Profit sharing income for mudharabah is
                             dalam periode terjadinya hak bagi hasil                         recognised in the period when the profit
                             sesuai nisbah yang disepakati dan tidak                         sharing rights arise in accordance with agreed
                             diperkenankan mengakui pendapatan dari                          profit sharing ratio and the recognition based
                             proyeksi hasil usaha.                                           on projection of income is not allowed.




                                                                     129
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Page 690
 CORPORATE                  ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
 GOVERNANCE                 & PRACTICES                        RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                       2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                        (continued)
     af. Pendapatan   dan   beban     bunga      serta                 af. Interest income and expense             and      sharia
         pendapatan dan beban syariah (lanjutan)                           income and expense (continued)
         (ii) Pendapatan syariah (lanjutan)                                 (ii) Sharia income (continued)
             Setoran dari debitur dengan kualitas non-                          Any payment from non-performing debtors
             performing       diperlakukan       sebagai                        recognised is treated as the repayment cost or
             pengembalian harga perolehan atau pokok                            loan/financing principal. Excess payment over
             piutang/pembiayaan. Kelebihan pembayaran                           the cost or loan/financing principal recognised
             di atas harga perolehan atau pokok                                 as income when the cash received. Specific
             piutang/pembiayaan       diakui     sebagai                        for ijarah transactions, any payment from non-
             pendapatan pada saat diterimanya. Khusus                           performing debtors recognised as the
             untuk transaksi ijarah, setoran dari debitur                       settlement of ijarah recei.
             dengan kualitas non-performing diperlakukan
             sebagai pelunasan piutang sewa.
             Hak nasabah atas bagi hasil dana syirkah                           Customers’ (fund owner) share on the return
             temporer merupakan bagian bagi laba milik                          of temporary syirkah funds represent fund
             nasabah yang didasarkan pada prinsip                               owners’ share of the profit of Subsidiary
             mudharabah     muthlaqah,      mudharabah                          derived from managing of such funds under
             muqayyadah dan mudharabah musytarakah                              mudharabah         mutlaqah,        mudharabah
             atas hasil pengelolaan dana mereka oleh                            muqayyadah and mudharabah musytarakah
             Entitas Anak. Pendapatan yang dibagikan                            principles. The profit sharing is determined on
             adalah pendapatan yang telah diterima.                             the earned income.
         (iii) Hak pihak ketiga atas bagi hasil dana syirkah                (iii) Third parties’ share on return of temporary
               temporer                                                           syirkah funds
             Pembagian laba dilakukan berdasarkan                               Distribution of profit is based on profit sharing
             prinsip bagi hasil yaitu dihitung dari                             principle which is calculated from the
             pendapatan Entitas Anak yang diterima                              Subsidiary’s earned income which in the form
             berupa laba bruto (gross profit margin).                           of gross profit margin.
             Jumlah pendapatan marjin dan bagi hasil                            Total margin income and profit sharing on
             atas pembiayaan yang diberikan dan atas                            financing given to debtors and other
             aset produktif lainnya akan dibagikan kepada                       productive assets will be distributed to the
             nasabah penyimpan dana dan Entitas Anak,                           fund owner and Subsidiary, calculated
             dihitung secara proporsional sesuai dengan                         proportionally according to the fund allocation
             alokasi dana nasabah dan Entitas Anak yang                         of fund owner and subsidiary that were used in
             dipakai dalam pembiayaan yang diberikan                            the financing given to debtors and other
             dan aset produktif lainnya yang disalurkan.                        productive assets.
             Selanjutnya, jumlah pendapatan marjin dan                          Furthermore, available margin income and
             bagi hasil yang tersedia untuk nasabah dari                        profit sharing for fund owner from financing
             fasilitas pembiayaan yang diberikan dan aset                       facilities given to debtors and other distributed
             produktif lainnya yang disalurkan tersebut                         earning assets are distributed to fund owners
             kemudian dibagihasilkan ke nasabah                                 and depositor as shahibul maal and the
             penabung dan deposan sebagai shahibul                              Subsidiary as mudharib based on a
             maal dan Entitas Anak sebagai mudharib                             predetermined and agreed profit sharing with
             sesuai dengan porsi nisbah bagi hasil yang                         nisbah portion. Margin income and profit
             telah disepakati bersama sebelumnya.                               sharing from financing facilities given to
             Pendapatan marjin dan bagi hasil dari                              debtors and other distributed earning assets
             pembiayaan yang diberikan dan aset                                 using the Subsidiary’s funds, are entirely
             produktif lainnya yang disalurkan yang                             shared for the Subsidiary, including income
             memakai dana Entitas Anak, seluruhnya                              from the Subsidiary’s fee-based transactions.
             menjadi milik Entitas Anak, termasuk
             pendapatan dari transaksi Entitas Anak
             berbasis imbalan.

     ag. Pendapatan premi dan beban klaim                              ag. Premium income and claims expenses

         Pendapatan premi kontrak asuransi jangka                           Premium income received from short-term
         pendek diakui sebagai pendapatan selama                            insurance contracts is recognised as revenue over
         periode risiko sesuai dengan proporsi jumlah                       the period of risk coverage in proportion to the
         proteksi asuransi yang diberikan. Pendapatan                       amounts of insurance protection provided.
         premi kontrak asuransi jangka panjang diakui                       Premium income from long-term insurance
         sebagai pendapatan pada saat polis jatuh tempo.                    contracts are recognised as revenue when the
                                                                            policy is due.



                                                       130
                                                                                                         ANNUAL REPORT 2023          1197
Page 691
            MAIN                       MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                         ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    ag. Pendapatan premi dan beban klaim (lanjutan)                 ag. Premium income            and    claims     expenses
                                                                                        (continued)

                         Pendapatan premi yang diterima sebelum jatuh                    Premiums income received before the due date of
                         tempo polis dicatat sebagai titipan premi di                    the respective policies are reported as
                         laporan posisi keuangan konsolidasian.                          policyholders’ deposits in the consolidated
                                                                                         statement of financial position.

                         Beban klaim dan manfaat terdiri dari klaim yang                 Claims and benefits expense consist of settled
                         telah    diselesaikan,    klaim  dalam    proses                claims, claims that are still in process of settlement
                         penyelesaian dan estimasi atas klaim yang telah                 and estimates of claims incurred but not yet
                         terjadi namun belum dilaporkan (IBNR). Klaim                    reported (IBNR). Claims and benefits are
                         dan manfaat diakui sebagai beban pada saat                      recognised as expenses when the liabilities to
                         terjadinya liabilitas untuk memberikan proteksi.                cover claims are incurred. Claim recoveries from
                         Klaim reasuransi yang diperoleh dari perusahaan                 reinsurance companies are recognised and
                         reasuradur diakui dan dicatat sebagai pengurang                 recorded as deduction from claims expenses
                         beban klaim dan manfaat pada periode yang                       consistent in the same period with the claim and
                         sama dengan periode pengakuan beban klaim                       benefits expenses recognition.
                         dan manfaat.

                         Jumlah klaim dalam penyelesaian, termasuk                       Total claims in process of settlement, including
                         klaim yang telah terjadi namun belum dilaporkan,                claims incurred but not yet reported, are stated at
                         dinyatakan berdasarkan estimasi menggunakan                     estimated amounts determined based on the
                         teknik perhitungan teknis oleh aktuaris.                        actuarial technical insurance calculations. Changes
                         Perubahan dalam estimasi liabilitas klaim,                      in estimated claims liabilities as a result of further
                         sebagai hasil dari evaluasi lebih lanjut dan                    evaluation and the difference between estimated
                         perbedaan antara estimasi klaim dengan klaim                    claims and paid claims are recognised as addition
                         yang dibayarkan, diakui sebagai biaya tambahan                  to or deduction from expenses in the period which
                         atau pengurang biaya pada periode terjadinya                    the changes occurred.
                         perubahan.

                    ah. Pendapatan provisi dan komisi                               ah. Fees and commissions income

                         Pendapatan provisi dan komisi dan biaya                         Fees and commissions income and transaction
                         transaksi yang dapat diatribusikan secara                       costs that are directly attributable to lending
                         langsung yang berkaitan dengan kegiatan                         activities, consumer financing receivables and net
                         pemberian kredit, piutang pembiayaan konsumen                   investment finance lease, are recognised as a
                         dan investasi bersih dalam sewa pembiayaan                      part/(deduction) of outstanding loan, consumer
                         diakui sebagai bagian/(pengurang) dari nilai                    financing receivables and net investment finance
                         perolehan kredit, piutang pembiayaan konsumen                   lease and will be recognised as interest income by
                         dan investasi bersih dalam sewa pembiayaan                      amortisation using effective interest rate method.
                         dan akan diakui sebagai pendapatan bunga
                         dengan cara diamortisasi berdasarkan metode
                         suku bunga efektif.

                         Untuk kredit, piutang pembiayaan konsumen dan                   The directly attributable unamortised fees and
                         investasi bersih dalam sewa pembiayaan yang                     commissions balances relating to loans, consumer
                         diberikan dan dilunasi sebelum jatuh temponya,                  financing receivables and net investment finance
                         saldo pendapatan provisi dan/atau komisi dan                    lease which is settled prior to maturity are
                         biaya transaksi yang dapat diatribusikan secara                 recognised upon settlement date of such loans,
                         langsung yang belum diamortisasi, diakui pada                   consumer financing and net investment finance
                         saat kredit yang diberikan, piutang pembiayaan                  lease.
                         konsumen dan investasi bersih dalam sewa
                         pembiayaan dilunasi.

                         Pendapatan provisi dan komisi lainnya yang tidak                Other fees and commissions income which are not
                         berkaitan langsung dengan kegiatan perkreditan                  directly related to lending activities or a specific
                         atau jangka waktu tertentu diakui pada saat                     period are recognised as revenue on the
                         terjadinya transaksi.                                           transaction date.




                                                                     131
1198 PT Bank Mandiri (Persero) Tbk
Page 692
 CORPORATE                    ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                              Financial
 GOVERNANCE                   & PRACTICES                        RESPONSIBILITY                             KEUANGAN   2023
                                                                                                              Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                         2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                          (continued)

     ai. Imbalan kerja                                                   ai. Employee benefits

         Liabilitas pensiun                                                   Pension liability

         Bank Mandiri menyelenggarakan program                                Bank Mandiri established a defined contribution
         pensiun iuran pasti yang pesertanya adalah                           pension plan covering substantially all of its eligible
         pegawai aktif Bank Mandiri sejak tanggal                             active employees since 1 August 1999 and also
         1 Agustus 1999, serta program pensiun manfaat                        defined benefit pension plans, which were derived
         pasti yang berasal dari masing-masing dana                           from each of the Merged Banks’ pension plan. This
         pensiun Bank Peserta Penggabungan. Program                           program is funded through payment to pension
         ini didanai melalui pembayaran kepada pengelola                      fund’s management as defined in the actuarial
         dana pensiun sebagaimana ditentukan dalam                            calculation which done regularly.
         perhitungan aktuaria yang dilakukan secara
         berkala.

         Liabilitas imbalan pensiun Bank Mandiri dan                          Bank Mandiri and Subsidiaries’ pension liability has
         Entitas Anak dihitung dengan membandingkan                           been calculated by comparing the benefit that will
         manfaat yang akan diterima oleh karyawan dari                        be received by an employee at normal pension age
         program pensiun pada usia pensiun normal                             from the Pension Plans with the benefit that will be
         dengan manfaat yang akan diterima berdasarkan                        received as stipulated under the Employment Law
         UU Ketenagakerjaan No. 13/2003 dimana telah                          No. 13/2003 which has been updated using the
         diperbaharui menggunakan UU Cipta Kerja                              Employment Regulations No. 11/2020 as amended
         No. 11/2020 sebagaimana diubah dengan UU                             by UU No. 6/2023 concerning Government In Lieu
         No. 6/2023 tentang Penetapan Peraturan                               Of Law No. 2 Of 2022 Concerning Stipulation
         Pemerintah Pengganti Undang-Undang No. 2                             Employment Regulations Become Law based on
         Tahun 2022 Tentang Cipta Kerja Menjadi                               the Collective Labor Agreement which was
         Undang-Undang berdasarkan Perjanjian Kerja                           renewed at the end of 2021 after deducting
         Bersama yang telah diperbaharui pada akhir                           accumulated employee contributions and the
         2021 setelah dikurangi dengan akumulasi                              results of its investments. If the pension benefit
         kontribusi karyawan dan hasil investasinya.                          from the Pension Plans is less than the benefit as
         Apabila manfaat pensiun lebih kecil dari pada                        required by the Employment Regulations No.
         manfaat menurut UU Cipta Kerja No 11/2020,                           11/2020, the Bank and Subsidiaries will have to
         maka Bank dan Entitas Anak membayar                                  pay such shortage.
         kekurangan tersebut.

         Program      pensiun     berdasarkan     UU                          The pension plan based on the Labor Law is a
         Ketenagakerjaan adalah program imbalan pasti                         defined benefit plan because the Labor Law sets a
         karena UU Ketenagakerjaan menentukan rumus                           certain formula to calculate the minimum pension
         tertentu untuk menghitung jumlah minimum                             benefit. A defined contribution plan is a pension
         imbalan pensiun. Program pensiun iuran pasti                         plan that defines an amount of pension contribution
         adalah program pensiun yang iurannya                                 based on pension fund regulation and all
         ditetapkan dalam peraturan dana pensiun dan                          contribution including investment return are
         seluruh iuran serta hasil pengembangannya                            recorded in its account’s member as pension
         dibukukan pada rekening masing-masing peserta                        benefit as stated in Law No. 4 year 2023 dated
         sebagai    manfaat    pensiun   sebagaimana                          12 January 2023 regarding Development and
         tercantum dalam UU No. 4 tahun 2023 tanggal                          Strengthening Financial Sector.
         12 Januari 2023 tentang Pengembangan dan
         Penguatan Sektor Keuangan.

         Liabilitas program pensiun imbalan pasti yang                        The defined benefit pension liability recognised in
         diakui di laporan posisi keuangan konsolidasian                      the consolidated statement of financial position is
         adalah nilai kini dari liabilitas imbalan pasti pada                 the present value of the defined benefit obligation
         tanggal laporan posisi keuangan konsolidasian                        at the consolidated statement of financial position
         setelah dikurangi dengan nilai wajar aset                            date less the fair value of plan assets, adjusted
         program, serta disesuaikan dengan keuntungan                         with unrealised actuarial gains or losses and past
         atau kerugian aktuaria dan biaya jasa lalu yang                      service cost. The defined benefit obligation is
         belum diakui. Liabilitas manfaat pasti dihitung                      calculated annually by independent actuaries using
         setiap     tahun     oleh     aktuaris   independen                  the projected unit credit method on a regular basis
         menggunakan metode projected unit credit                             for periods not exceeding one year. The present
         secara reguler untuk periode tidak lebih dari satu                   value of the defined benefit obligation is
         tahun. Nilai kini liabilitas manfaat pasti ditentukan                determined by discount the estimated future cash
         dengan mendiskontokan estimasi arus kas keluar                       outflows using discounting rate of government
         masa depan dengan menggunakan tingkat                                bonds’ yield that are denominated in the currency
         diskonto imbal hasil obligasi pemerintah dalam                       in which the benefit will be paid, and that have
         mata uang yang sama dengan mata uang                                 terms to maturity approximating the terms of the
         imbalan yang akan dibayarkan dan waktu jatuh                         related pension liability.
         tempo yang kurang lebih sama dengan waktu
         jatuh tempo imbalan yang bersangkutan.


                                                         132
                                                                                                             ANNUAL REPORT 2023         1199
Page 693
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                       (continued)

                    ai. Imbalan kerja (lanjutan)                                     ai. Employee benefits (continued)

                         Liabilitas pensiun (lanjutan)                                    Pension liability (continued)

                         Akumulasi keuntungan atau kerugian aktuarial                     The accumulated unrealised actuarial gains or
                         yang belum diakui yang terjadi diakui sebagai                    losses incurred are recognised as “Other
                         “Penghasilan komprehensif lain” dan disajikan                    comprehensive income” and is presented in the
                         pada bagian ekuitas. Biaya jasa lalu dibebankan                  equity section. Past service cost is directly charged
                         langsung pada laba rugi.                                         to profit or loss.

                         Biaya imbalan pasca-kerja yang diakui selama                     The post-employment benefits expense recognised
                         tahun berjalan terdiri dari biaya jasa dalam laba                during the current year consists of service cost in
                         rugi, bunga neto atas liabilitas imbalan pasti neto              profit or loss, net interest on the net defined benefit
                         dalam laba rugi dan pengukuran kembali liabilitas                liability in profit or loss or re-measurement of the
                         imbalan    pasti    neto      dalam    penghasilan               net      defined     benefit    liabilities in   other
                         komprehensif lain.                                               comprehensive income.

                         Bunga neto atas imbalan pasti neto merupakan                     Net interest on the net defined benefit liabilities is
                         komponen pendapatan bunga dari aset program,                     the interest income component of plan assets,
                         biaya bunga atas liabilitas imbalan pasti dan                    interest expense of defined benefit liabilities and
                         bunga atas dampak batas atas dari aset.                          interest on the effect of asset ceiling.

                         Pengukuran kembali liabilitas imbalan pasti neto                 Remeasurements of the net defined benefit liability
                         terdiri dari:                                                    consists of:
                         -    Keuntungan dan kerugian aktuarial;                          -   Actuarial gains and losses;
                         -    Imbal hasil atas aset program, tidak                        -   Return on plan assets, excluding amount
                              termasuk jumlah yang dimasukkan dalam                           included in net interest on the net defined
                              bunga neto atas liabilitas imbalan pasti neto;                  benefit liability; and
                         -    Setiap perubahan dampak batas atas aset,                    -   Any change in effect of the asset ceiling,
                              tidak termasuk jumlah yang dimasukkan                           excluding amount including in net interest on
                              dalam bunga neto atas liabilitas imbalan                        the net defined benefit liability.
                              pasti neto.

                         Keuntungan dan kerugian aktuarial dapat timbul                   Actuarial gains and losses may arise from the
                         dari penyesuaian yang dibuat berdasarkan                         adjustments made based on the experience and
                         pengalaman dan perubahan asumsi-asumsi                           changes in actuarial assumption.
                         aktuarial.

                         Liabilitas imbalan jangka panjang lainnya                        Other     long-term        employment          benefit
                                                                                          obligations

                         Liabilitas imbalan jangka panjang lainnya terdiri                Other long-term employment benefit obligations
                         dari cuti besar berimbalan dan penghargaan                       consist of paid leave and service awards.
                         masa dinas.

                         Hak atas imbalan ini pada umumnya diberikan                      The entitlement of these benefits are provided to
                         apabila karyawan bekerja hingga mencapai usia                    the employees if employees work until reaching the
                         pensiun dan memenuhi masa kerja tertentu.                        retirement age and the completion of a minimum
                         Prakiraan biaya imbalan ini dicadangkan                          certain service period. The estimated costs for
                         sepanjang masa kerja karyawan dan dihitung                       these benefits are accrued over the period of
                         menggunakan metodologi yang sama dengan                          employment of respective employee calculated
                         metodologi yang digunakan dalam perhitungan                      using similar methodology used for defined benefit
                         program pensiun imbalan pasti, namun                             pension plans but is simpler. These obligations are
                         disederhanakan. Liabilitas ini dinilai setiap tahun              calculated annually by qualified independent
                         oleh aktuaris independen yang berkualifikasi.                    actuaries.




                                                                       133
1200 PT Bank Mandiri (Persero) Tbk
Page 694
 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                         Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                           KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                       (continued)

     ai. Imbalan kerja (lanjutan)                                     ai. Employee benefits (continued)

         Pembagian tantiem                                                 Tantiem distribution

         Bank Mandiri mencatat tantiem dengan                              Bank Mandiri records tantiem on an accrual basis
         menggunakan      basis      akrual     dan                        and charges it to the consolidated statement of
         membebankannya pada laporan laba rugi dan                         profit or loss and other comprehensive income for
         penghasilan komprehensif lain konsolidasian                       the year.
         tahun berjalan.

     aj. Laba per saham                                               aj. Earnings per share

         Laba per saham dihitung dengan membagi laba                       Earnings per share is calculated by dividing the
         bersih konsolidasian akhir tahun berjalan dengan                  consolidated net profit at end of year with the
         jumlah rata-rata tertimbang saham yang                            weighted average number of shares issued and
         ditempatkan dan disetor selama tahun berjalan.                    fully paid-in during the year.

         Jumlah rata-rata tertimbang saham yang beredar                    The weighted-average number of outstanding
         yang digunakan dalam menghitung laba per                          shares used in computing basic and diluted
         saham dasar dan dilusian pada tanggal                             earnings per share as of 31 December 2023 is
         31 Desember 2023 sebesar 93.333.333.332                           93,333,333,332 shares and as of 31 December
         lembar saham, serta 31 Desember 2022 sebesar                      2022 are 93,302,714,482 shares.
         93.302.714.482 lembar saham.

     ak. Segmen operasi                                               ak. Operating segment

         Segmen operasi adalah suatu komponen dari                         An operating segment is a component of an entity:
         entitas:
         (a) Yang terlibat dalam aktivitas bisnis yang                     (a) That is involved in business activities to
              mana     memperoleh       pendapatan   dan                       generate income and expenses (include
              menimbulkan beban (termasuk pendapatan                           income and expenses relating to the
              dan beban terkait dengan transaksi dengan                        transactions with other components from the
              komponen lain dari entitas yang sama);                           same entity);
         (b) Hasil operasinya dikaji ulang secara reguler                  (b) Whose operating results are reviewed
              oleh pengambil keputusan operasional untuk                       regularly by decision maker for operational
              membuat keputusan tentang sumber daya                            activities for decision making on allocation of
              yang dialokasikan pada segmen tersebut                           resources in respective         segment and
              dan menilai kinerjanya; dan                                      performance evaluation of works; and
         (c) Tersedia informasi keuangan yang dapat                        (c) For which separate financial information is
              dipisahkan.                                                      available.

         Sesuai dengan PSAK 5 tentang “Segmen                              In accordance with SFAS No. 5 regarding
         Operasi”, Grup menyajikan segmen operasi                          “Operating Segment”, the Group presents
         berdasarkan laporan internal grup yang disajikan                  operating segment based on internal reports that
         kepada pengambil keputusan operasional.                           are presented to the decision-maker for operational
         Pengambil keputusan operasional adalah Direksi.                   activities. The decision maker for operational
                                                                           activities is the Board of Directors.

         Informasi segmen per 31 Desember 2023 dan                         Segment information as of 31 December 2023 and
         2022 disajikan sesuai Keputusan Direksi                           2022 onwards presented in accordance with the
         No. KEP.DIR/014/2020 tanggal 25 Februari 2020,                    Board of Directors Decree No. KEP.DIR/014/2020
         dimana segmen operasi dibagi ke dalam                             dated 25 February 2020, In which the operating
         segmen-segmen       usaha    sebagai      berikut:                segments are divided into the following business
         Corporate Banking, Commercial Banking,                            segments: Corporate Banking, Commercial
         Hubungan      Kelembagaan,      Retail   Banking                  Banking, Institutional, Retail Banking (including
         (termasuk Wealth), Treasury & International                       Wealth), Treasury & International Banking, Head
         Banking, Kantor Pusat, Entitas Anak Syariah,                      Office, Sharia Subsidiary, Subsidiary - Insurance
         Entitas Anak - Asuransi dan Entitas Anak lainnya.                 and Other Subsidiaries.


                                                      134
                                                                                                        ANNUAL REPORT 2023        1201
Page 695
            MAIN                       MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                          ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


               2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                     2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
                    (lanjutan)                                                      (continued)

                    ak. Segmen operasi (lanjutan)                                   ak. Operating segment (continued)

                         Segmen geografis adalah komponen Bank dan                       A geographical segment represents a component
                         Entitas Anak yang dapat dibedakan dalam                         of the Bank and its Subsidiaries that provides
                         menghasilkan jasa pada lingkungan (wilayah)                     services in different economic environment and
                         ekonomi tertentu dan komponen itu memiliki                      has a different risk and reward compared to others
                         risiko dan imbalan yang berbeda dengan risiko                   operating in different economic environment.
                         dan imbalan pada komponen yang beroperasi                       Geographical segments are divided into Indonesia,
                         pada lingkungan (wilayah) ekonomi lain. Segmen                  Asia (Singapore, Malaysia, Hong Kong, Timor
                         geografis dibagi ke dalam wilayah Indonesia,                    Leste and Shanghai), Western Europe (England)
                         Asia (Singapura, Malaysia, Hong Kong, Timor                     and Cayman Islands.
                         Leste dan Shanghai), Eropa Barat (Inggris) dan
                         Cayman Islands.

                    al. Tanggung jawab sosial dan lingkungan                        al. Social and environmental responsibility

                         Berdasarkan Peraturan Menteri Badan Usaha                       Based on Minister of State-Owned Enterprises
                         Milik Negara Nomor PER-01/MBU/03/2023                           Regulation No. PER-01/MBU/03/2023 regarding
                         tentang Penugasan Khusus dan Program                            Special     Assignments    and       Social   and
                         Tanggung Jawab Sosial dan Lingkungan Badan                      Environmental Responsibility Programs of State-
                         Usaha Milik Negara tanggal 24 Maret 2023,                       Owned Enterprises dated 24 March 2023, fund
                         alokasi dana tidak dialokasikan dari saldo laba                 allocation was no longer allocated from retained
                         berdasarkan hasil keputusan Rapat Umum                          earnings based on the decision of the General
                         Pemegang Saham (“RUPS”) akan tetapi diakui                      Shareholders Meeting (“RUPS”), instead, it is
                         dan dibebankan ke laporan laba dan rugi dan                     recognised and charged to the current period
                         penghasilan komprehensif lain konsolidasian                     consolidated statement of profit or loss and other
                         tahun berjalan.                                                 comprehensive income.

                    am. Saham treasuri                                              am. Treasury shares

                         Saham treasuri merupakan modal saham yang                       Treasury shares are share capital that is acquired
                         diperoleh dan dimiliki kembali dari yang                        and owned back which from shares previously
                         sebelumnya telah diterbitkan Bank. Saham                        issued by the Bank. Treasury shares are stated at
                         treasuri disajikan sebesar nilai yang dibayar,                  the amount paid, including directly attributable
                         termasuk biaya tambahan yang secara langsung                    additional costs (less income tax) and as a
                         dapat diatribusikan (dikurangi pajak penghasilan)               deduction from equity until the shares are canceled
                         dan sebagai pengurang dari ekuitas sampai                       or reissued. When the shares are subsequently
                         saham tersebut dibatalkan atau diterbitkan                      sold back, the amount received, less the related
                         kembali. Ketika saham tersebut selanjutnya dijual               transaction surcharge and the related income tax
                         kembali, maka nilai yang diterima, dikurangi                    effect, is presented in equity.
                         biaya tambahan transaksi yang terkait dan
                         dampak pajak penghasilan yang terkait disajikan
                         di ekuitas.

                    an. Penggabungan usaha entitas sepengendali                     an. Business combination of common control
                                                                                        entities

                         Transaksi penggabungan usaha antara entitas                     The transaction of business combination between
                         anak, PT Bank Syariah Mandiri (BSM), dengan                     subsidiary, PT Bank Syariah Mandiri (BSM), with
                         PT Bank BRIsyariah Tbk. (BRIS) dan PT Bank                      PT Bank BRIsyariah Tbk. (BRIS) and PT Bank BNI
                         BNI Syariah (BNIS) merupakan penggabungan                       Syariah (BNIS) is a business combination between
                         usaha antar entitas sepengendali. Transaksi                     entities under common control. Business
                         penggabungan usaha antar entitas sepengendali,                  combination transaction between entities under
                         berupa pengalihan bisnis termasuk aset maupun                   common control, in the form of business transfer
                         liabilitas terkait dalam rangka reorganisasi                    including transfer of the related assets and
                         entitas-entitas yang berada dalam suatu                         liabilities in relation to the reorganisation of entities
                         kelompok yang sama bukan merupakan                              under the same group, do not constitute a change
                         perubahan kepemilikan dalam arti substansi                      of ownership in terms of economics susbtance.
                         ekonomi. Oleh karena itu, transaksi tersebut                    Therefore, the transaction is recognised at carrying
                         diakui pada jumlah tercatat berdasarkan metode                  value based on the pooling of the interest method.
                         penyatuan kepemilikan. Selisih antara imbalan                   The difference between the total consideration
                         yang diterima/dialihkan dan jumlah tercatat                     received or paid and the carrying amount of
                         investasi dicatat di ekuitas disajikan sebagai                  investment is recorded under equity and presented
                         bagian dari pos tambahan modal disetor.                         as a component of additional paid in capital.


                                                                      135
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 CORPORATE                  ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                          Financial
 GOVERNANCE                 & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


2.   IKHTISAR KEBIJAKAN AKUNTANSI MATERIAL                      2.    SUMMARY OF MATERIAL ACCOUNTING POLICIES
     (lanjutan)                                                       (continued)

     an. Penggabungan usaha entitas sepengendali                      an. Business combination of common control
         (lanjutan)                                                       entities (continued)

          Pada informasi keuangan entitas induk, Bank                       In the parent entity financial information, the Bank
          membukukan nilai investasi di entitas baru                        records its investment value in the new entity at
          menggunakan nilai terdahulu, di mana investasi                    cost using the predecessor value, where the
          dibukukan sebesar nilai buku.                                     investment is recorded at book value.


3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                       3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
     AKUNTANSI YANG PENTING                                            JUDGEMENTS

     Beberapa estimasi dan asumsi dibuat dalam rangka                  Several estimates and assumptions are created in the
     penyusunan laporan keuangan konsolidasian dimana                  preparation of the consolidated financial statements in
     dibutuhkan       pertimbangan manajemen    dalam                  which management judgment is required in
     menentukan metodologi yang tepat untuk penilaian                  determining the methodology in the valuation of assets
     aset dan liabilitas.                                              and liabilities.

     Manajemen membuat estimasi dan asumsi yang                        Management makes estimation and assumptions that
     berimplikasi pada pelaporan nilai aset dan liabilitas             affect the reported amounts of assets and liabilities
     atas tahun keuangan satu tahun ke depan. Semua                    within the one next financial year. All estimation and
     estimasi dan asumsi yang diharuskan oleh Standar                  assumptions required in conformity with Statement of
     Akuntansi Keuangan di Indonesia adalah estimasi                   Financial Accounting Standard are the best estimation
     terbaik serta berdasarkan pada standar yang berlaku.              undertaken in accordance with the applicable
     Estimasi dan pertimbangan dievaluasi secara terus                 standards. Estimation and judgements are evaluated
     menerus dan berdasarkan pengalaman masa lalu dan                  on a continuous basis, and are based on past
     faktor-faktor lain termasuk harapan atas kejadian                 experience and other factors, including expectations
     yang akan datang.                                                 with regard to future events.

     Walaupun estimasi dan asumsi ini dibuat berdasarkan               Although these estimates and assumptions are based
     pengetahuan terbaik manajemen atas kejadian dan                   on management’s best knowledge of current events
     tindakan saat ini, hasil yang timbul mungkin berbeda              and activities, actual results may differ from those
     dengan estimasi dan asumsi semula.                                estimates and assumptions.

     Sumber utama ketidakpastian estimasi                              Key sources of estimation uncertainty

     a.   Cadangan kerugian penurunan nilai aset                       a.   Allowances for impairment losses of financial
          keuangan                                                          assets

          Evaluasi atas kerugian penurunan nilai aset                       Evaluation of impairment losses on financial
          keuangan yang dicatat pada biaya perolehan                        assets which recognised at amortised cost and
          diamortisasi dan efek utang yang diklasifikasikan                 debt securities classified as fair value through
          sebagai nilai wajar melalui pendapatan                            other comprehensive income are described in
          komprehensif lain dijelaskan di Catatan 2c.                       Note 2c.

          Cadangan kerugian penurunan nilai terkait                         Allowance for impairment losses related to a
          dengan pihak lawan spesifik dalam seluruh                         specific counterparty as part of the entire
          cadangan kerugian penurunan nilai dibentuk atas                   allowance for impairment losses are established
          tagihan yang penurunan nilainya dievaluasi                        for receivables that are individually evaluated for
          secara individual berdasarkan estimasi terbaik                    impairment based on management's best estimate
          manajemen atas nilai tunai arus kas yang                          of the present value of cash flows expected to be
          diharapkan akan diterima. Dalam menghitung                        received. In calculating the allowance for
          cadangan kerugian penurunan nilai, manajemen                      impairment     losses,     management        makes
          membuat pertimbangan mengenai kondisi                             judgements regarding of the financial condition of
          keuangan dari pihak lawan dan nilai neto yang                     the counterparty and the net realizable value of the
          dapat direalisasi dari agunan yang diterima.                      collateral received. Each impaired asset is
          Setiap aset yang mengalami penurunan nilai                        evaluated, and its settlement strategy and
          dievaluasi dan strategi penyelesaiannya serta                     estimation of cash flows considered recoverable
          estimasi arus kas yang dinilai dapat diperoleh                    are independently approved by the Credit Risk
          kembali dan disetujui secara independen oleh                      Management Unit.
          Credit Risk Management Unit.



                                                       136
                                                                                                         ANNUAL REPORT 2023        1203
Page 697
            MAIN                        MANAGEMENT                         COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                           ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


               3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                        3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
                    AKUNTANSI YANG PENTING (lanjutan)                                  JUDGEMENTS (continued)

                    Sumber utama ketidakpastian estimasi (lanjutan)                    Key sources of estimation uncertainty (continued)

                    a.   Cadangan kerugian penurunan nilai aset                        a.   Allowances for impairment losses of financial
                         keuangan (lanjutan)                                                assets (continued)

                         Evaluasi cadangan kerugian penurunan nilai                         Collectively assessed impairment allowances
                         secara kolektif meliputi kerugian kredit yang                      cover credit losses inherent in portfolios with
                         melekat pada portofolio tagihan dengan                             similar economic characteristics when there is a
                         karakteristik ekonomi yang serupa ketika terdapat                  significant increase in credit risk or objective
                         kenaikan risiko kredit yang signifikan atau                        evidence to suggest the impairments are exist
                         terdapat bukti objektif bahwa telah terjadi                        within the portfolio, but the individual impaired
                         penurunan nilai tagihan dalam portofolio tersebut,                 items cannot yet be identified. In determining the
                         namun penurunan nilai secara individu belum                        need to establish allowance for collective
                         dapat diidentifikasi. Dalam menentukan perlunya                    impairment, management considers factors such
                         untuk membentuk cadangan kerugian penurunan                        as credit quality, size of portfolio, credit
                         nilai      secara        kolektif,     manajemen                   concentrations, and economic factors. In
                         mempertimbangkan faktor-faktor seperti kualitas                    estimating     the   required    allowance,    the
                         kredit, besarnya portofolio, konsentrasi kredit dan                assumptions made to determine expected default
                         faktor-faktor ekonomi. Dalam mengestimasi                          and loss model and to determine the required input
                         cadangan yang dibutuhkan, asumsi-asumsi                            parameters which are based on historical
                         dibuat untuk menentukan model kerugian                             experience and estimated future economic
                         ekspektasian dan untuk menentukan parameter                        conditions (forecasting). The accuracy of this
                         input yang diperlukan, berdasarkan pengalaman                      allowance depends on how precise the estimated
                         historis, kondisi ekonomi saat ini, dan prakiraan                  future cash flows to determine the individual
                         kondisi     ekonomi     di    masa     mendatang                   allowance and the model assumptions and
                         (forecasting). Ketepatan dari cadangan ini                         parameters used in determining collective
                         bergantung pada seberapa tepat estimasi arus                       allowance.
                         kas masa depan untuk menentukan cadangan
                         individual serta asumsi model dan parameter
                         yang digunakan dalam penentuan cadangan
                         kolektif.

                    b.   Menentukan nilai wajar instrumen keuangan                     b. Determining fair values of financial instruments

                         Dalam menentukan nilai wajar aset dan liabilitas                   In determining the fair value for financial assets
                         keuangan yang tidak mempunyai harga pasar,                         and financial liabilities for which there is no
                         Grup menggunakan teknik penilaian seperti yang                     observable market price, the Group uses the
                         dijelaskan dalam Catatan 2c untuk instrumen                        valuation techniques as described in Note 2c for
                         keuangan yang tidak diperdagangkan secara                          financial instruments that are traded infrequently
                         aktif dan memiliki informasi harga yang terbatas,                  and have limited pricing information, fair value is
                         nilai   wajar   yang     kurang    objektif  dan                   less objective and requires varying degrees of
                         membutuhkan       berbagai    tingkat   penilaian                  judgement depending on liquidity, concentration,
                         tergantung pada likuiditas, konsentrasi, faktor                    uncertainty of market factors, pricing assumptions
                         ketidakpastian pasar, asumsi harga dan risiko                      and other risks.
                         lainnya.

                    c.   Imbalan pensiun                                               c.   Pension benefits

                         Program-program           pensiun        ditentukan                Pension programs are determined based on
                         berdasarkan       perhitungan     dari     aktuaria.               actuarial valuation. The actuarial valuation uses
                         Perhitungan aktuaria menggunakan asumsi-                           assumptions such as discount rate, expected rate
                         asumsi seperti tingkat diskonto, tingkat                           of return on investments, future salary increases,
                         pengembalian investasi, tingkat kenaikan gaji,                     mortality rate, resignation rate and others (refer to
                         tingkat kematian, tingkat pengunduran diri dan                     Note 2ai and 52). Any changes in those
                         lain-lain (Catatan 2ai dan 52). Perubahan asumsi                   assumptions will impact the liability balance of
                         ini akan mempengaruhi nilai liabilitas pensiun.                    employee benefit obligations.




                                                                        137
1204 PT Bank Mandiri (Persero) Tbk
Page 698
 CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
 GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                        3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
     AKUNTANSI YANG PENTING (lanjutan)                                  JUDGEMENTS (continued)

     Sumber utama ketidakpastian estimasi (lanjutan)                    Key sources of estimation uncertainty (continued)

     c.   Imbalan pensiun (lanjutan)                                    c.   Pension benefits (continued)

          Grup menentukan tingkat diskonto yang sesuai                       The Group determines the appropriate discount
          pada akhir periode pelaporan, yakni zero coupon                    rate at the end of each year, which is zero coupon
          bond yang digunakan untuk menentukan nilai kini                    bond that used to determine the present value of
          arus kas keluar masa depan estimasian yang                         estimated future cash outflows expected to settle
          diharapkan untuk menyelesaikan liabilitas                          the pension obligations. In determining the
          pensiun. Dalam menentukan tingkat suku bunga                       appropriate discount rate, the Group considers the
          yang sesuai, Grup mempertimbangkan imbal                           government bonds’ yields denominated in currency
          hasil obligasi pemerintah yang didenominasikan                     and have similar period with payments that will be
          dalam mata uang imbalan akan dibayar dan                           made and have terms to maturity approximating
          memiliki jangka waktu yang serupa dengan                           the terms of the related employee benefit liability.
          jangka waktu liabilitas pensiun yang terkait.                      Other key assumptions for pension obligations
          Asumsi kunci liabilitas pensiun lainnya sebagian                   mostly are determined based on current market
          ditentukan berdasarkan kondisi pasar saat ini.                     conditions.

     d.   Liabilitas asuransi untuk kontrak asuransi                    d. Insurance liabilities on insurance contracts

          Liabilitas kepada pemegang polis (manfaat polis                    Liabilities to policyholders (future policy benefits
          masa depan dari produk non-unit link dan                           from non-unit linked products and estimated claim
          estimasi liabilitas klaim) Entitas Anak dicatat di                 liabilities) of Subsidiaries are recorded in the
          laporan posisi keuangan konsolidasian sebagai                      consolidated statement of financial position as part
          bagian dari “Liabilitas lain-lain” berdasarkan                     of "Other liabilities" based on actuarial calculations
          perhitungan aktuaris dengan menggunakan                            using actuarial assumptions, which is the best
          asumsi aktuarial yaitu asumsi estimasi terbaik                     estimate assumptions and margin for risk of
          dan marjin atas risiko pemburukan.                                 deterioration.

     e.   Aset pajak tangguhan                                          e.   Deferred tax assets

          Aset pajak tangguhan diakui atas seluruh                           Deferred tax assets are recognised for all
          perbedaan temporer yang dapat dikurangkan,                         deductible temporary differences, as long as
          sepanjang besar kemungkinannya bahwa                               taxable income most likely will be available so that
          penghasilan kena pajak akan tersedia sehingga                      the temporary differences can be utilised.
          perbedaan temporer tersebut dapat digunakan.                       Significant estimation by management are required
          Estimasi signifikan oleh manajemen disyaratkan                     in determining the amount of deferred tax assets
          dalam menentukan jumlah aset pajak tangguhan                       that can be recognised, based on utilisation period
          yang dapat diakui, berdasarkan saat penggunaan                     and the level of taxable income and future tax
          dan tingkat penghasilan kena pajak serta strategi                  planning strategies. The Bank does not consider
          perencanaan pajak masa depan. Bank tidak                           some of the benefits of deferred tax assets as
          memperhitungkan sebagian manfaat aset pajak                        management believes that those part of deferred
          tangguhan karena manajemen Bank berpendapat                        tax assets will not be recoverable in the future.
          bahwa aset pajak tangguhan tersebut tidak dapat
          terpulihkan di masa yang akan datang.

     f.   Penyusutan dan estimasi umur manfaat aset                     f.   Depreciation and estimated useful life of fixed
          tetap                                                              assets

          Biaya perolehan aset tetap disusutkan dengan                       Cost of acquisition of fixed assets are depreciated
          menggunakan metode garis lurus berdasarkan                         using the straight-line method based on their
          taksiran    masa     manfaat    ekonomisnya.                       estimated    economic       useful    life.  Bank’s
          Manajemen Bank mengestimasi masa manfaat                           management estimates the useful lives of the fixed
          ekonomis aset tetap antara 4 (empat) sampai                        assets between 4 (four) to 20 (twenty) years.
          dengan 20 (dua puluh) tahun.


                                                       138
                                                                                                           ANNUAL REPORT 2023         1205
Page 699
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                       3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
                    AKUNTANSI YANG PENTING (lanjutan)                                 JUDGEMENTS (continued)

                    Sumber utama ketidakpastian estimasi (lanjutan)                   Key sources of estimation uncertainty (continued)

                    f.   Penyusutan dan estimasi umur manfaat aset                   f.    Depreciation and estimated useful life of fixed
                         tetap (lanjutan)                                                  assets (continued)

                         Perubahan        tingkat pemakaian         dan                    Changes in the level of usage and technological
                         perkembangan teknologi dapat mempengaruhi                         developments could affect the economic useful
                         masa manfaat ekonomis dan nilai sisa aset, dan                    lives and residual value of assets, and therefore
                         karenanya biaya penyusutan masa depan                             future depreciation charges may be revised.
                         mungkin direvisi.

                         Nilai tercatat atas aset tetap Bank diungkapkan                   The carrying value of the Bank’s fixed assets is
                         pada Catatan 18.                                                  disclosed in Note 18.

                    g.   Penurunan nilai aset non-keuangan                            g.   Impairment of non-financial assets

                         Bank Mandiri dan entitas anak mengevaluasi                        Bank Mandiri and its Subsidiaries assess
                         penurunan nilai aset non-keuangan apabila                         impairment of non-financial assets whenever there
                         terdapat kejadian atau perubahan keadaan yang                     are events or changes in circumstances indicate
                         mengindikasikan bahwa nilai tercatat aset non-                    that the carrying value of non-financial assets
                         keuangan tidak dapat dipulihkan kembali. Faktor-                  cannot be recovered. Important factors that could
                         faktor penting yang dapat menyebabkan                             cause impairment of non-financial assets are as
                         penurunan nilai aset non-keuangan adalah                          follows:
                         sebagai berikut:
                         a) Performa yang tidak tercapai secara                            a)   Performance is not achieved significantly
                              signifikan terhadap ekspektasi historis atau                      against historical expectations or projected
                              proyeksi hasil operasi di masa yang akan                          operating results in the future;
                              datang;
                         b) Perubahan yang signifikan dalam cara                           b)   A significant change in the way of the asset
                              penggunaan aset atau strategi bisnis secara                       usage or the overall business strategy; and
                              keseluruhan; dan
                         c) Industri atau tren ekonomi yang secara                         c)   Industry or economic trends are significantly
                              signifikan bernilai negatif.                                      negative.

                         Manajemen Bank dan Entitas Anak mengakui                          The Management of the Bank and its Subsidiaries
                         kerugian penurunan nilai apabila nilai tercatat                   recognise an impairment loss if the carrying
                         aset melebihi nilai terpulihkannya. Nilai                         amount of the asset exceeds its recoverable
                         terpulihkan adalah nilai yang lebih tinggi antara                 amount. Recoverable amount is the higher value
                         nilai wajar dikurang biaya pelepasan dengan nilai                 between the fair value minus costs of disposal and
                         pakai aset (atau unit penghasil kas). Nilai                       the value in use of the asset (or cash-generating
                         terpulihkan diestimasi untuk aset individual atau,                unit). Recoverable amount is estimated for
                         jika tidak memungkinkan, untuk unit penghasil                     individual assets or, if not possible, for the cash-
                         kas yang mana aset tersebut merupakan bagian                      generating unit in which the asset is part of the
                         daripada unit tersebut.                                           unit.

                    h.   Revaluasi atas nilai wajar tanah                            h.    Revaluations of land

                         Grup menggunakan spesialis penilai independen                     The Group engaged independent valuation
                         untuk menilai nilai wajar atas tanah. Tanah dinilai               specialists to assess fair value of land. Lands were
                         berdasarkan referensi atas bukti berdasarkan                      valued by reference to market-based evidence,
                         pasar, menggunakan nilai yang dapat diukur                        using comparable prices adjusted for specific
                         setelah disesuaikan dengan faktor pasar spesifik                  market factors such as location and condition of
                         seperti lokasi dan kondisi dari tanah.                            land.




                                                                       139
1206 PT Bank Mandiri (Persero) Tbk
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 CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                        Financial
 GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                        Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                     3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
     AKUNTANSI YANG PENTING (lanjutan)                               JUDGEMENTS (continued)

     Sumber utama ketidakpastian estimasi (lanjutan)                 Key sources of estimation uncertainty (continued)

     i.   Menentukan jangka waktu kontrak dengan                    i.   Determine the contract term with options for
          opsi perpanjangan dan penghentian kontrak -                    extension and termination of the contract - the
          Grup sebagai penyewa                                           Group as lessee

          Grup menentukan jangka waktu sewa sebagai                      The Group determines the lease term as the term
          jangka waktu sewa yang tidak dapat dibatalkan,                 of the lease that cannot be canceled, together with
          bersama dengan periode yang dicakup oleh opsi                  the period covered based on the option to extend
          untuk memperpanjang masa sewa jika dipastikan                  the lease if it is determined to be exercised, or any
          akan dilaksanakan, atau periode apa pun yang                   period covered by the option to terminate the
          dicakup oleh opsi untuk menghentikan sewa, jika                lease, if it is reasonably not to do so.
          cukup wajar untuk tidak dilakukan.

          Grup memiliki beberapa kontrak sewa yang                       The Group has several lease contracts that include
          mencakup opsi perpanjangan dan penghentian                     options for extension and termination of the lease
          jangka waktu sewa. Grup menerapkan penilaian                   terms. The Group applies its judgment in
          dalam mengevaluasi apakah dapat dipastikan                     evaluating whether it is certain to exercise the
          jika     akan    menggunakan     opsi    untuk                 option to extend or terminate the lease. This is
          memperpanjang atau menghentikan sewa. Hal                      done by considering all relevant facts and
          tersebut dilakukan dengan mempertimbangkan                     circumstances that provide economic incentives to
          seluruh fakta dan keadaan yang relevan yang                    extend or terminate the lease. After the
          memberikan insentif ekonomi untuk melakukan                    commencement date, the Group reassesses the
          perpanjangan atau penghentian sewa. Setelah                    lease term, if there is a significant event or change
          tanggal dimulainya, Grup menilai kembali masa                  in circumstances which is under its control and
          sewa, jika terdapat peristiwa atau perubahan                   affects whether the lessee is certain enough to
          signifikan dalam keadaan yang berada dalam                     exercise the option to extend or terminate the
          kendali dan mempengaruhi apakah penyewa                        lease.
          cukup      pasti  untuk  mengeksekusi     opsi
          memperpanjang atau menghentikan sewa.

     Pertimbangan akuntansi yang penting                            Significant accounting judgements

     Pertimbangan akuntansi yang penting dalam                      Accounting judgements that are important in applying
     menerapkan kebijakan akuntansi Bank dan Entitas                accounting policies of the Bank and its Subsidiaries
     Anak meliputi:                                                 include:

     a.   Usaha yang berkelanjutan                                  a.   Going concern

          Manajemen Bank dan Entitas Anak telah                          The Management of the Bank and its Subsidiaries
          melakukan penilaian atas kemampuan Bank dan                    have assessed the ability of the Bank and its
          Entitas Anak untuk melanjutkan kelangsungan                    Subsidiaries to continue its business and believes
          usahanya dan berkeyakinan bahwa Bank dan                       that the Bank and Subsidiaries have the resources
          Entitas Anak memiliki sumber daya untuk                        to continue their business in the future. In addition,
          melanjutkan usahanya di masa mendatang.                        management is not aware of any material
          Selain itu, manajemen tidak mengetahui adanya                  uncertainties that may cause significant doubt on
          ketidakpastian material yang dapat menimbulkan                 the ability of the Bank and Subsidiaries to maintain
          keraguan yang signifikan terhadap kemampuan                    its viability. Therefore, the consolidated financial
          Bank dan Entitas Anak untuk mempertahankan                     statements have been prepared on the basis of a
          kelangsungan hidupnya. Oleh karena itu, laporan                going concern.
          keuangan konsolidasian telah disusun atas dasar
          usaha yang berkelanjutan.



                                                      140
                                                                                                       ANNUAL REPORT 2023         1207
Page 701
            MAIN                               MANAGEMENT                                 COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                    PROFILE                                      ANALYSIS


                                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


               3.   PENGGUNAAN ESTIMASI DAN PERTIMBANGAN                                           3.     USE OF CRITICAL ACCOUNTING ESTIMATES AND
                    AKUNTANSI YANG PENTING (lanjutan)                                                     JUDGEMENTS (continued)

                    Pertimbangan akuntansi yang penting (lanjutan)                                       Significant accounting judgements (continued)

                    b.     Klasifikasi aset dan liabilitas keuangan                                      b.     Classification of financial assets and liabilities

                           Manajemen Bank dan Entitas Anak menetapkan                                           The Management of the Bank and its Subsidiaries
                           klasifikasi atas aset dan liabilitas tertentu sebagai                                determine the classification of certain assets and
                           aset keuangan dan liabilitas keuangan dengan                                         liabilities as financial assets and financial liabilities
                           mempertimbangkan bila definisi yang ditetapkan                                       by considering whether the definitions set under
                           PSAK 71 telah dipenuhi sejak 1 Januari 2020.                                         SFAS No. 71 have been fulfilled since 1 January
                           Dengan demikian, aset keuangan dan liabilitas                                        2020. Accordingly, financial assets and financial
                           keuangan diakui sesuai dengan kebijakan                                              liabilities are recognised in accordance with the
                           akuntansi Bank dan Entitas Anak seperti                                              accounting policy of the Bank and its Subsidiaries
                           diungkapkan pada Catatan 2.c.E.                                                      as disclosed in Note 2.c.E.


               4.   GIRO PADA BANK INDONESIA                                                       4.     CURRENT ACCOUNTS WITH BANK INDONESIA

                                                                                      2023                         2022

                    Rupiah                                                            95.824.700                    95.778.696                                        Rupiah
                    Dolar Amerika Serikat                                                                                                                 United States Dollar
                        (Catatan 62.B.(iv))                                           12.780.622                    11.570.462                             (Note 62.B.(iv))

                    Total                                                            108.605.322                  107.349.158                                                  Total


                    Pada tanggal 31 Desember 2023 dan 2022 rasio Giro                                    As of 31 December 2023 dan 31 December 2022, the
                    Wajib Minimum (“GWM”) Rupiah dan Mata Uang                                           Rupiah and Foreign Currency Minimum Statutory
                    Asing    serta     rasio  Penyangga     Likuiditas                                   Reserves (“GWM”) ratios and the Macroprudential
                    Makroprudensial (“PLM”) yang harus dipenuhi Bank                                     Liquidity Buffer (“PLM”) ratios that must be met by the
                    adalah sebagai berikut:                                                              Bank are as follows:

                                                                                      2023                         2022

                    Rupiah                                                                                                                                    Rupiah
                                                                                                                                           Primary Minimum Statutory
                           GWM*)                                                                6,30%                      7,90%                       Reserve*)
                           (i) GWM secara harian                                                0,00%                      0,00% (i) Daily Minimum Statutory Reserve
                                                                                                                                      (ii) Average Minimum Statutory
                           (ii) GWM secara rata-rata                                            6,30%                      7,90%                        Reserve
                           Penyangga Likuiditas                                                                                              Macroprudential Liquidity
                                Makroprudensial                                                 5,00%                      6,00%                          Buffer

                    Mata uang asing                                                                                                                 Foreign currencies
                                                                                                                                            Primary Minimum Statutory
                           GWM                                                                  4,00%                      4,00%                          Reserve
                           (i) GWM secara harian                                                2,00%                      2,00% (i) Daily Minimum Statutory Reserve
                                                                                                                                       (ii) Average Minimum Statutory
                           (ii) GWM secara rata-rata                                            2,00%                      2,00%                         Reserve
                    *)   Bank melakukan penyediaan dana untuk kegiatan ekonomi tertentu dan              *)   The Bank provides funding for specific and inclusive economic activities,
                         inklusif, sehingga Bank mendapatkan insentif berupa kelonggaran GWM                  allowing the Bank to receive incentives in the form of Rupiah Minimum
                         dalam Rupiah pada tanggal 31 Desember 2023 dan 2022 masing-                          Statutory Reserves (“GWM”) leniency at 2.70% and 1.10% on 31 December
                         masing sebesar 2,70% dan 1,10%. GWM dalam Rupiah yang harus                          2023 and 2022, respectively. The Rupiah Minimum Statutory Reserves
                         dipenuhi Bank pada tanggal 31 Desember 2023 dan 2022 yang                            (“GWM”) that the Bank requires to meet which should have been 9.00%
                         seharusnya masing-masing sebesar 9,00% dengan ketentuan harian                       each on 31 December 2023 and 31 December 2022 with a daily requirement
                         0,00% dan rata-rata 9,00% menjadi sebesar 6,30% pada tanggal 31                      of 0.00% and an average of 9.00%, has been reduced to 6.30% on 31
                         Desember 2023 dengan ketentuan harian 0,00% dan rata-rata 6,30%,                     December 2023, with a daily requirement of 0.00% and an average of 6.30%
                         menjadi sebesar 7,90% pada tanggal 31 Desember 2022 dengan ketentuan                 and has been reduced to 7.90% on 31 December 2022, with a daily
                         harian 0,00% dan rata-rata 7,90%.                                                    requirement of 0.00% and an average of 7.90%.




                                                                                       141
1208 PT Bank Mandiri (Persero) Tbk
Page 702
 CORPORATE                           ESG COMMITMENTS                          SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                        Financial
 GOVERNANCE                          & PRACTICES                              RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                        Statements 2023


                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                              (Expressed in millions of Rupiah, unless otherwise stated)


4.   GIRO PADA BANK INDONESIA (lanjutan)                                         4.     CURRENT ACCOUNTS WITH BANK INDONESIA
                                                                                        (continued)

     Pada tanggal 31 Desember 2023 dan 2022, Bank                                       As of 31 December 2023 and 2022, the Bank has
     telah memenuhi rasio sesuai ketentuan di atas.                                     fulfilled the ratio as mentioned above. The Rupiah and
     Rasio GWM Rupiah dan Valuta Asing serta PLM                                        Foreign Currencies Minimum Statutory Reserves Ratio
     (Bank Mandiri saja) yaitu masing-masing sebesar:                                   and Macroprudential Liquidity Buffer Ratio (Bank
                                                                                        Mandiri only), are as follows:

                                                                    2023                          2022

      Rupiah                                                                                                                                 Rupiah
                                                                                                                          Primary Minimum Statutory
             GWM                                                              7,32%                     8,53%                          Reserve
             (i) GWM secara harian*)                                          0,00%                     0,00% (i) Daily Minimum Statutory Reserve*)
                                                                                                                     (ii) Average Minimum Statutory
             (ii) GWM secara rata-rata                                        7,32%                     8,53%                          Reserve
             Penyangga Likuiditas                                                                                           Macroprudential Liquidity
                  Makroprudensial                                         19,25%                       21,14%                            Buffer

      Mata uang asing                                                                                                              Foreign currencies
                                                                                                                           Primary Minimum Statutory
             GWM                                                              4,10%                      4,10%                           Reserve
             (i) GWM secara harian**)                                         2,00%                      2,00% (i)Daily Minimum Statutory Reserve**)
                                                                                                                      (ii) Average Minimum Statutory
             (ii) GWM secara rata-rata                                        2,10%                      2,10%                       Reserve
     *)    Realisasi GWM harian Rupiah posisi 31 Desember 2023 dan 2022                *)    Realization of daily Rupiah minimum statutory reserve as of 31 December 2023 and
           masing-masing sebesar 7,32% dan 7,56%.                                            were 7.32% dan 7.56%,respectively.
     **)   Realisasi GWM harian Mata Uang Asing posisi 31 Desember 2023 dan            **)   Realization of daily foreign currencies minimum statutory as of 31 December 2023 and
           2022 masing-masing sebesar 4,10% dan 4,10%.                                       were 4.10% and 4.10%, respectively.


     Pada tanggal 31 Desember 2023 dan 2022, Bank                                      As of 31 December 2023 and 2022, the Bank is obliged
     berkewajiban untuk melakukan pemenuhan Giro RIM                                   to fulfill the RIM Current Account of 0.68% dan 0.87%,
     masing-masing sebesar 0,68% dan 0,87% dan Bank                                    respectively, and the Bank has fulfilled these
     telah melakukan pemenuhan kewajiban tersebut.                                     obligations.


5.   GIRO PADA BANK LAIN                                                         5.     CURRENT ACCOUNTS WITH OTHER BANKS

     a.      Berdasarkan mata uang, pihak berelasi dan pihak                            a.      By currency, related parties and third parties:
             ketiga:

                                                                    2023                          2022

             Rupiah                                                                                                                                Rupiah
                 Pihak berelasi (Catatan 56)                              58.804                        70.843                Related parties (Note 56)
                 Pihak ketiga                                            799.949                       566.608                             Third parties

             Total                                                       858.753                       637.451                                               Total

             Mata uang asing                                                                                                          Foreign currencies
                 Pihak berelasi (Catatan 56)                            402.293                        39.890                 Related parties (Note 56)
                 Pihak ketiga                                        35.345.044                    47.132.644                              Third parties

             Total (Catatan 62.B.(iv))                               35.747.337                    47.172.534                          Total (Note 62.B.(iv))

                                                                     36.606.090                    47.809.985
             Dikurangi: cadangan kerugian                                                                                                Less: allowance for
                 penurunan nilai                                         (32.205)                      (20.285)                         impairment losses

             Neto                                                    36.573.885                    47.789.700                                                  Net




                                                                      142
                                                                                                                                       ANNUAL REPORT 2023             1209
Page 703
            MAIN                                 MANAGEMENT                                     COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                        PROFILE                                             ANALYSIS


                                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                                                FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                                                31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                       (Expressed in millions of Rupiah, unless otherwise stated)


               5.   GIRO PADA BANK LAIN (lanjutan)                                                       5.     CURRENT ACCOUNTS                                WITH         OTHER            BANKS
                                                                                                                (continued)

                    a.   Berdasarkan mata uang, pihak berelasi dan pihak                                        a.       By currency, related parties and third parties
                         ketiga (lanjutan):                                                                              (continued):

                         Termasuk dalam mata uang asing adalah                                                          Included in foreign currencies are mainly Great
                         terutama mata uang Pound Sterling Inggris, Dolar                                               Britain Pound Sterling, United States Dollar,
                         Amerika Serikat, Euro Eropa, Yen Jepang, Dolar                                                 European Euro, Japanese Yen, Australian Dollar,
                         Australia, Dolar Hong Kong, Yuan China dan                                                     Hong Kong Dollar, Chinese Yuan and Singapore
                         Dolar Singapura.                                                                               Dollar.

                         Berikut adalah perubahan giro pada bank lain                                                   Movements of current account with other banks
                         dengan klasifikasi biaya perolehan diamortisasi                                                classified as amortised cost for the year ended 31
                         untuk tahun yang berakhir pada tanggal 31                                                      December 2023 and 2022 are as follows:
                         Desember 2023 dan 2022:

                                                                                                                2023
                                                                                                                                      Syariah*)/
                                                                  Stage 1             Stage 2                 Stage 3                  Sharia*)                Total


                         Saldo awal tahun                         47.024.265                     -                            -            785.720             47.809.985              Beginning balance

                         Pengukuran kembali bersih                                                                                                                                     Remeasurement of
                           nilai tercatat                       (12.846.864)                     -                                -      1.226.452           (11.620.412)          net carrying amount
                         Aset keuangan baru                                                                                                                                          New financial assets
                           yang diterbitkan atau                                                                                                                                           originated or
                           dibeli                                    994.542                         -                        -              12.184             1.006.726                    purchased
                         Aset keuangan yang                                                                                                                                               Financial assets
                           dihentikan pengakuannya                  (163.796)                    -                            -             (9.706)              (173.502)               derecognised


                         Total penambahan/(penurunan)                                                                                                                        Total increase/(decrease)
                            tahun berjalan            (12.016.118)                               -                            -          1.228.930           (10.787.188)            during the year
                         Lain-lain**)                    (404.982)                               -                            -            (11.725)             (416.707)                      Others**)

                         Saldo akhir tahun                        34.603.165                     -                            -          2.002.925             36.606.090


                         *)    Tidak menerapkan PSAK 71.                                                                *)    Not Implement SFAS 71.
                         **)   Termasuk selisih kurs karena penjabaran mata uang asing.                                 **)   Included effect of foreign currencies translation.


                                                                                                                2022
                                                                                                                                      Syariah*)/
                                                                  Stage 1             Stage 2                 Stage 3                  Sharia*)                Total


                         Saldo awal tahun                         24.053.134                     -                            -          1.388.527             25.441.661              Beginning balance

                         Pengukuran kembali bersih                                                                                                                             Remeasurement of
                           nilai tercatat                         21.553.049                     -                            -           (412.894)            21.140.155  net carrying amount
                         Aset keuangan baru yang                                                                                                                             New financial assets
                           diterbitkan atau                                                                                                                                        originated or
                           dibeli                                      58.643                    -                            -              44.482               103.125            purchased
                         Aset keuangan yang                                                                                                                                       Financial assets
                           dihentikan pengakuannya                   (212.308)                   -                            -           (174.908)              (387.216)       derecognised

                         Total penambahan/(penurunan)                                                                                                                        Total increase/(decrease)
                            tahun berjalan                        21.399.384                     -                            -           (543.320)            20.856.064            during the year
                         Lain-lain**)                              1.571.747                     -                            -            (59.487)             1.512.260                      Others**)

                         Saldo akhir tahun                        47.024.265                     -                            -            785.720             47.809.985                Ending balance


                         *)    Tidak menerapkan PSAK 71.                                                                *)    Not Implement SFAS 71.
                         **)   Termasuk selisih kurs karena penjabaran mata uang asing.                                 **)   Included effect of foreign currencies translation.




                                                                                          143
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Page 704
                  CORPORATE                            ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                   LAPORAN
                                                                                                                                                                Financial
                  GOVERNANCE                           & PRACTICES                                 RESPONSIBILITY                                             KEUANGAN   2023
                                                                                                                                                                Statements 2023


                                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

                 CATATAN ATAS LAPORAN KEUANGAN                                                                                    NOTES TO THE CONSOLIDATED
                 KONSOLIDASIAN                                                                                                           FINANCIAL STATEMENTS
                 31 DESEMBER 2023 DAN 2022                                                                                           31 DECEMBER 2023 AND 2022
                 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                  (Expressed in millions of Rupiah, unless otherwise stated)


                 5.   GIRO PADA BANK LAIN (lanjutan)                                                 5.      CURRENT ACCOUNTS                           WITH         OTHER       BANKS
                                                                                                             (continued)

                      b.   Berdasarkan kolektibilitas Bank Indonesia:                                       b.    By Bank Indonesia’s collectibility:

                                                                                           2023                       2022


                           Rupiah                                                                                                                                      Rupiah
                               Lancar                                                         858.753                     637.451                                  Current
                           Mata uang asing (Catatan 62.B.(iv))                                                                              Foreign currencies (Note 62.B.(iv))
                               Lancar                                                      35.747.337                 47.172.534                                   Current

                                                                                           36.606.090                 47.809.985
                           Dikurangi: cadangan kerugian                                                                                                           Less: allowance for
                               penurunan nilai                                               (32.205)                      (20.285 )                            impairment losses

                           Neto                                                            36.573.885                 47.789.700                                                     Net


                      c.   Tingkat suku bunga rata-rata (yield) per tahun:                                  c.   The average interest rate (yield) per annum:

                                                                                           2023                       2022

                           Rupiah                                                                 3,62%                      0,96%                                         Rupiah
                           Mata uang asing (disetarakan                                                                                             Foreign currencies (equivalent
                               dalam Rupiah)                                                      2,67%                      1,05%                                 in Rupiah)

                      d.   Mutasi cadangan kerugian penurunan nilai giro                                    d.   Movements of allowance for impairment losses on
                           pada bank lain:                                                                       current accounts with other banks are as follows:

                                                                                           2023                       2022

                           Saldo awal tahun                                                       20.285                    24.043                                   Beginning balance
Ending balance
                           Pembentukan/(pembalikan)                                                                                                                Allowance/(reversal)
                               selama tahun                                                                                                                         during the year
                               berjalan (Catatan 46)                                              11.800                     (5.165 )                                     (Note 46)
                           Lain-lain*)                                                               120                      1.407                                             Others*)

                           Saldo akhir tahun                                                      32.205                    20.285                                         Ending balance

                           *)   Termasuk selisih kurs karena penjabaran mata uang asing.                         *)   Included effect of foreign currencies translation.




                                                                                           144
                                                                                                                                                                ANNUAL REPORT 2023          1211
Page 705
            MAIN                                 MANAGEMENT                                     COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                        PROFILE                                             ANALYSIS


                                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                                                FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                                                31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                       (Expressed in millions of Rupiah, unless otherwise stated)


               5.   GIRO PADA BANK LAIN (lanjutan)                                                       5.     CURRENT ACCOUNTS                                WITH           OTHER         BANKS
                                                                                                                (continued)

                    d.   Mutasi cadangan kerugian penurunan nilai giro                                          d.      Movements of allowance for impairment losses on
                         pada bank lain (lanjutan):                                                                     current accounts with other banks are as follows
                                                                                                                        (continued):

                                                                                                                2023
                                                                                                                                     Syariah*)/               Jumlah/
                                                                  Stage 1             Stage 2                 Stage 3                 Sharia*)                 Total

                         Saldo awal tahun                              11.611                    -                            -               8.674                 20.285            Beginning balance

                         Pengukuran kembali bersih                                                                                                                                 Net remeasurement of
                           penyisihan kerugian                           (129)                   -                            -              11.528                 11.399           losses allowance
                         Aset keuangan baru                                                                                                                                         New financial assets
                           yang diterbitkan atau                                                                                                                                          originated or
                           dibeli                                         502                        -                        -                     -                   502                 purchased
                         Aset keuangan yang                                                                                                                                              Financial assets
                           dihentikan pengakuannya                       (101)                   -                            -                     -                 (101)              derecognised

                         Total (pembalikan)/                                                                                                                                             Total (reversal)/
                            pembentukan                                                                                                                                                     allowance
                            tahun berjalan                                 272                   -                            -              11.528                 11.800             during the year
                         Lain-lain**)                                    (422)                   -                            -                 542                    120                       Others**)

                         Saldo akhir tahun                             11.461                    -                            -              20.744                 32.205              Ending balance



                                                                                                                2022
                                                                                                                                     Syariah*)/               Jumlah/
                                                                  Stage 1             Stage 2                 Stage 3                 Sharia*)                 Total

                         Saldo awal tahun                               6.806                    -                            -              17.237                 24.043            Beginning balance

                         Pengukuran kembali bersih                                                                                                                                 Net remeasurement of
                           penyisihan kerugian                          4.390                    -                            -               (9.562)                (5.172)         losses allowance
                         Aset keuangan baru                                                                                                                                         New financial assets
                           yang diterbitkan atau                                                                                                                                          originated or
                           dibeli                                           17                   -                            -                     -                     17                purchased
                         Aset keuangan yang                                                                                                                                              Financial assets
                           dihentikan pengakuannya                         (10)                  -                            -                     -                    (10)            derecognised

                         Total (pembalikan)/                                                                                                                                             Total (reversal)/
                            pembentukan                                                                                                                                                     allowance
                            tahun berjalan                              4.397                    -                            -              (9.562)                 (5.165)           during the year
                         Lain-lain**)                                     408                    -                            -                  999                  1.407                      Others**)

                         Saldo akhir tahun                             11.611                    -                            -               8.674                 20.285              Ending balance

                                                                                                                        *)    Not Implement SFAS 71.
                         *)    Tidak menerapkan PSAK 71.
                                                                                                                        **)   Included effect of foreign currencies translation.
                         **)   Termasuk selisih kurs karena penjabaran mata uang asing.


                         Manajemen       berpendapat bahwa     jumlah                                                   Management believes that the allowance for
                         cadangan kerugian penurunan nilai giro pada                                                    impairment losses on current accounts with other
                         bank lain telah memadai.                                                                       banks is adequate.

                    e.   Informasi mengenai pengelompokan berdasarkan                                           e.      Information in respect of classification of
                         kelompok “tidak mengalami penurunan nilai” dan                                                 “non-impaired” and “impaired” are disclosed in Note
                         “mengalami penurunan nilai” diungkapkan pada                                                   62A.
                         Catatan 62A.




                                                                                          145
1212 PT Bank Mandiri (Persero) Tbk
Page 706
 CORPORATE                        ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                        Financial
 GOVERNANCE                       & PRACTICES                             RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                        Statements 2023


                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                          (Expressed in millions of Rupiah, unless otherwise stated)


6.   PENEMPATAN PADA BANK INDONESIA DAN                                      6.      PLACEMENTS WITH             BANK    INDONESIA          AND
     BANK LAIN                                                                       OTHER BANKS
     a.   Berdasarkan jenis, mata uang, jatuh tempo dan                              a.   By type, currency, maturity and Bank Indonesia’s
          kolektibilitas Bank Indonesia:                                                  collectibility:
                                                                            2023

                                              Jatuh tempo/           Lancar/              Macet/        Jumah/
                                                Maturity             Current              Loss           Total


          Rupiah                                                                                                                           Rupiah
          Bank Indonesia                     < 1 bulan/month          29.985.352                   -     29.985.352                Bank Indonesia
          Call money                         < 1 bulan/month           1.155.000                   -      1.155.000                    Call money
          Penempatan “fixed-term”         > 12 bulan < 36 bulan/                                                             Fixed term placement
                                       > 12 months < 36 months             312.102                 -        312.102
          Deposito berjangka                 < 1 bulan/month             1.913.314                 -      1.913.314                  Time deposits
                                           > 1 bulan < 3 bulan/
                                          > 1 month/ < 3 months           430.895                  -       430.895
                                           > 3 bulan < 6 bulan/
                                         > 3 months < 6 months             49.400                  -        49.400
                                           > 6 bulan < 12 bulan/
                                         > 6 months < 12 months            33.500                  -        33.500
          Jumlah                                                      33.879.563                   -     33.879.563                           Total


          Mata uang asing                                                                                                     Foreign currencies
          Bank Indonesia                      < 1 bulan/month         25.482.035                   -     25.482.035               Bank Indonesia
                                            > 1 bulan < 3 bulan/
                                           > 1 month < 3 months          1.154.775                 -      1.154.775
          Call money                          < 1 bulan/month            6.787.585                 -      6.787.585                    Call money
          Penempatan “fixed-term”             < 1 bulan/month            4.375.738                 -      4.375.738          Fixed term placement
                                            > 1 bulan < 3 bulan/
                                          > 1 months < 3 months           135.276                  -       135.276
                                            > 3 bulan < 6 bulan/
                                          > 3 months < 6 months           130.203                  -       130.203
                                          > 12 bulan < 36 bulan/
                                         > 12 months < 36 months           622.602                 -        622.602
                                         > 36 bulan/ > 36 months           265.924                 -        265.924
          Deposito berjangka                 < 1 bulan/ month            1.031.032                 -      1.031.032                  Time deposits
                                            > 3 bulan < 6 bulan/
                                          > 3 months < 6 months            11.712                  -        11.712
                                           > 6 bulan < 12 bulan/
                                         > 6 months < 12 months            11.712                  -        11.712
          Jumlah (Catatan 62.B.(iv))                                  40.008.594                   -    40.008.594            Total (Note 62.B.(iv))
                                                                                                         73.888.157
          Dikurangi: cadangan                                                                                 (957)            Less: allowance for
              kerugian penurunan nilai                                                                                     impairment losses
          Neto                                                                                           73.887.200                             Net


                                                                            2022

                                              Jatuh tempo/           Lancar/              Macet/       Jumlah/
                                                Maturity             Current              Loss          Total


          Rupiah                                                                                                                           Rupiah
          Bank Indonesia                     < 1 bulan/month          26.843.755                   -     26.843.755                Bank Indonesia
          Call money                         < 1 bulan/month           2.375.000                   -      2.375.000                    Call money
          Penempatan “fixed-term”          > 1 bulan < 3 bulan/                                                              Fixed term placement
                                         > 1 months < 3 months             33.130                  -        33.130
                                          > 6 bulan < 12 bulan/
                                         > 6 months < 12 months            76.732                  -        76.732
          Deposito berjangka                 < 1 bulan/month              983.980                  -       983.980                   Time deposits
                                           > 1 bulan < 3 bulan/
                                          > 1 month < 3 months            451.200                  -       451.200
                                           > 3 bulan < 6 bulan/
                                         > 3 months < 6 months             13.500                  -        13.500
                                          > 6 bulan < 12 bulan/
                                         > 6 months < 12 months            34.500                  -        34.500
          Jumlah                                                      30.811.797                   -     30.811.797                           Total




                                                                   146
                                                                                                                        ANNUAL REPORT 2023         1213
Page 707
            MAIN                                MANAGEMENT                                COMPANY                                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                          REPORTS                                   PROFILE                                           ANALYSIS


                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


               6.   PENEMPATAN PADA BANK INDONESIA DAN                                             6.       PLACEMENTS WITH BANK                                   INDONESIA              AND
                    BANK LAIN (lanjutan)                                                                    OTHER BANKS (continued)

                    a.   Berdasarkan jenis, mata uang, jatuh tempo dan                                      a.   By type, currency, maturity and Bank Indonesia’s
                         kolektibilitas Bank Indonesia (lanjutan):                                               collectibility (continued):

                                                                                           2022 (lanjutan)

                                                                 Jatuh tempo/              Lancar/                Macet/                 Jumlah/
                                                                   Maturity                Current                Loss                    Total


                         Mata uang asing                                                                                                                                    Foreign currencies
                         Bank Indonesia                         < 1 bulan/month             39.230.100                          -          39.230.100                           Bank Indonesia
                                                              > 1 bulan < 3 bulan/
                                                             > 1 month < 3 months           10.508.063                          -          10.508.063
                         Call money                             < 1 bulan/month             10.547.054                          -          10.547.054                                Call money
                         Penempatan “fixed-term”               < 1 bulan/1 month             1.566.422                          -           1.566.422                      Fixed term placement
                                                              > 1 bulan < 3 bulan
                                                             > 1 month < 3 months               141.245                         -             141.245
                                                              > 3 bulan < 6 bulan
                                                            > 3 months < 6 months               310.474                         -             310.474
                                                             > 6 bulan < 12 bulan/
                                                           > 6 months < 12 months               284.087                         -             284.087
                                                            > 12 bulan < 36 bulan/
                                                           > 12 months < 36 months                35.180                        -              35.180
                                                           > 36 bulan/ > 36 months             1.282.230                        -           1.282.230
                         Deposito berjangka                     < 1 bulan/month                  264.648                        -             264.648                             Time deposits
                                                              > 1 bulan < 3 bulan
                                                            > 1 months < 3 months                31.462                         -               31.462
                                                              > 6 bulan < 12 bulan
                                                           > 6 months < 12 months               311.350                         -             311.350

                         Jumlah (Catatan 62.B.(iv))                                         64.512.315                          -          64.512.315                      Total (Note 62.B.(iv))

                                                                                                                                           95.324.112
                         Dikurangi: cadangan                                                                                                                              Less: allowance for
                             kerugian penurunan nilai                                                                                           (3.601)                impairment losses

                         Neto                                                                                                              95.320.511                                        Net

                         Berikut adalah perubahan penempatan pada                                                Movements of placement with other banks
                         bank lain dengan klasifikasi biaya perolehan                                            classified as amortised cost for the year ended
                         diamortisasi untuk tahun yang berakhir pada                                             31 December 2023 and 2022 are as follows:
                         tanggal 31 Desember 2023 dan 2022:

                                                                                                        2023
                                                                           Stage 1         Stage 2               Stage 3                   Total


                         Saldo awal tahun                                  95.324.112                   -                       -         95.324.112                           Beginning balance

                         Pengukuran kembali bersih                                                                                                                         Remeasurement of net
                           nilai tercatat                                 (2.645.636)                   -                       -         (2.645.636)                         carrying amount
                         Aset keuangan baru                                                                                                                                  New financial assets
                           yang diterbitkan atau                                                                                                                                  originated or
                           dibeli                                        190.970.424                    -                       -        190.970.424                                purchased
                         Aset keuangan yang dihentikan                                                                                                                           Financial assets
                           pengakuannya                                 (208.512.008)                   -                       -      (208.512.008)                            derecognised

                         Total penambahan                                                                                                                                          Total increase
                            tahun berjalan                               (20.187.220)                   -                       -       (20.187.220)                           during the year
                         Lain-lain*)                                      (1.248.735)                   -                       -        (1.248.735)                                      Others*)

                         Saldo akhir tahun                                 73.888.157                   -                       -         73.888.157                             Ending balance


                         *)   Termasuk selisih kurs karena penjabaran mata uang asing.                           *)   Included effect of foreign currencies translation.




                                                                                         147
1214 PT Bank Mandiri (Persero) Tbk
Page 708
 CORPORATE                            ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                                      LAPORAN
                                                                                                                                                 Financial
 GOVERNANCE                           & PRACTICES                                RESPONSIBILITY                                                KEUANGAN   2023
                                                                                                                                                 Statements 2023


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


6.   PENEMPATAN PADA BANK INDONESIA DAN                                            6.        PLACEMENTS WITH BANK                                   INDONESIA             AND
     BANK LAIN (lanjutan)                                                                    OTHER BANKS (continued)

     a.   Berdasarkan jenis, mata uang, jatuh tempo dan                                      a.   By type, currency, maturity and Bank Indonesia’s
          kolektibilitas Bank Indonesia (lanjutan):                                               collectibility (continued):

          Berikut adalah perubahan penempatan pada                                                Movements of placement with other banks
          bank lain dengan klasifikasi biaya perolehan                                            classified as amortised cost for the year ended
          diamortisasi untuk tahun yang berakhir pada                                             31 December 2023 and 2022 are as follows
          tanggal 31 Desember 2023 dan 2022 (lanjutan):                                           (continued):

                                                                                         2022
                                                            Stage 1          Stage 2              Stage 3                   Total


          Saldo awal tahun                                  47.785.191                   -                       -         47.785.191                           Beginning balance

          Pengukuran kembali bersih                                                                                                                         Remeasurement of net
            nilai tercatat                                   4.634.950                   -                       -           4.634.950                         carrying amount
          Aset keuangan baru                                                                                                                                  New financial assets
            yang diterbitkan atau                                                                                                                                 originated or
            dibeli                                        227.878.707                    -                       -        227.878.707                                purchased
          Aset keuangan yang dihentikan                                                                                                                          Financial assets
            pengakuannya                                 (184.867.043)                   -                       -       (184.867.043)                           derecognised

          Total penambahan                                                                                                                                          Total increase
             tahun berjalan                                 47.646.614                   -                       -         47.646.614                           during the year
          Lain-lain*)                                         (107.693)                  -                       -           (107.693)                                     Others*)

          Saldo akhir tahun                                 95.324.112                   -                       -         95.324.112                             Ending balance


          *)   Termasuk selisih kurs karena penjabaran mata uang asing.                           *)   Included effect of foreign currencies translation.


     b.   Berdasarkan pihak berelasi dan pihak ketiga:                                       b.   By related parties and third parties:

                                                                          2023                         2022


          Rupiah                                                                                                                                               Rupiah
            Pihak berelasi (Catatan 56)                                      625.019                      636.030                         Related parties (Note 56)
            Pihak ketiga                                                  33.254.544                   30.175.767                                      Third parties

          Total                                                           33.879.563                   30.811.797                                                           Total

          Mata uang asing                                                                                                                         Foreign currencies
           Pihak berelasi (Catatan 56)                                     1.424.453                    2.444.098                         Related parties (Note 56)
           Pihak ketiga                                                   38.584.141                   62.068.217                                      Third parties

          Total (Catatan 62.B.(iv))                                       40.008.594                   64.512.315                                   Total (Note 62.B.(iv))

                                                                          73.888.157                   95.324.112
          Dikurangi: cadangan kerugian                                                                                                                Less: allowance for
            penurunan nilai                                                      (957)                        (3.601)                                impairment losses

          Neto                                                            73.887.200                   95.320.511                                                             Net




                                                                           148
                                                                                                                                                 ANNUAL REPORT 2023               1215
Page 709
            MAIN                       MANAGEMENT                         COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                            ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

               CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
               KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
               31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
               (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


               6.   PENEMPATAN PADA BANK INDONESIA DAN                         6.     PLACEMENTS WITH BANK                 INDONESIA       AND
                    BANK LAIN (lanjutan)                                              OTHER BANKS (continued)
                    c.   Penempatan berdasarkan counterparty:                        c.   By counterparty:
                                                                    2023                    2022

                         Rupiah                                                                                                         Rupiah
                         Deposit Facility                                                                                       Deposit Facility
                           Bank Indonesia                           29.985.352              26.843.755                       Bank Indonesia
                         Call Money                                                                                                Call Money
                           JP Morgan Chase Bank N.A                       200.000              200.000          JP Morgan Chase Bank N.A
                           PT Bank DKI                                    100.000              100.000                          PT Bank DKI
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Jawa Barat dan Banten Tbk.                  100.000              100.000         Jawa Barat dan Banten Tbk.
                           PT Bank Pembangunan                                                                      PT Bank Pembangunan
                              Daerah Bali                                 100.000              100.000                          Daerah Bali
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Sulawesi Utara Tengah                       100.000                      -           Sulawesi Utara Tengah
                           PT Bank Permata Tbk.                           100.000                      -             PT Bank Permata Tbk.
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Sumatera Utara                              100.000              250.000                      Sumatera Utara
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Nusa Tenggara Timur                          50.000              125.000               Nusa Tenggara Timur
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Sulawesi Selatan dan                                                                   Sulawesi Selatan and
                              Sulawesi Barat                               50.000              150.000                       Sulawesi Barat
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Istimewa Yogyakarta                          50.000              100.000                Istimewa Yogyakarta
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Sumatera Selatan dan                                                                  Sumatera Selatan and
                              Bangka Belitung                              40.000              125.000                     Bangka Belitung
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Kalimantan Tengah                            15.000              150.000                  Kalimantan Tengah
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Jawa Timur Tbk.                                   -              250.000                     Jawa Timur Tbk.
                           PT Bank Aceh Syariah                                 -              200.000               PT Bank Aceh Syariah
                           PT Bank OCBC NISP Tbk.                               -              200.000           PT Bank OCBC NISP Tbk.
                           PT Bank Pembangunan Daerah                                                        PT Bank Pembangunan Daerah
                              Sulawesi Tenggara                                 -              125.000                  Sulawesi Tenggara
                           Lainnya                                        150.000              200.000                                Others

                                                                     1.155.000                2.375.000

                         Fixed term                                                                                               Fixed term
                           PT Bank UOB Indonesia                          312.102                76.732             PT Bank UOB Indonesia
                           PT Bank ANZ Indonesia                                -                33.130             PT Bank ANZ Indonesia
                                                                          312.102              109.862

                         Deposito                                                                                              Time deposits
                           Citibank                                       389.565              102.200                              Citibank
                           PT Bank Tabungan Negara                                                                PT Bank Tabungan Negara
                             (Persero) Tbk                                296.829              226.100                     (Persero) Tbk
                           PT Bank Rakyat Indonesia                                                                PT Bank Rakyat Indonesia
                             (Persero) Tbk                                270.030              162.530                      (Persero) Tbk
                           PT Bank Pembangunan                                                                       PT Bank Pembangunan
                             Daerah Jawa Barat                                                                         Daerah Jawa Barat
                             dan Banten Tbk                               220.890                50.000                  dan Banten Tbk




                                                                     149
1216 PT Bank Mandiri (Persero) Tbk
Page 710
     CORPORATE                   ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                  & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023

                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


6.   PENEMPATAN PADA BANK INDONESIA DAN                         6.    PLACEMENTS WITH BANK                INDONESIA       AND
     BANK LAIN (lanjutan)                                             OTHER BANKS (continued)
     c.   Penempatan          berdasarkan     counterparty            c.   By counterparty (continued):
          (lanjutan):
                                                     2023                    2022

          Rupiah (lanjutan)                                                                                 Rupiah (continued)
          Deposito (lanjutan)                                                                        Time deposits (continued)
              PT Bank DKI                                  190.900              121.400                        PT Bank DKI
              PT Bank Pembangunan Daerah                                                       PT Bank Pembangun Daerah
                 Jawa Barat dan Banten                                                            Jawa Barat dan Banten
                 Tbk - Unit Usaha Syariah                  178.000              256.500         Tbk - Unit Usaha Syariah
              PT Bank Pembangunan Daerah                                                     PT Bank Pembangunan Daerah
               Jawa Timur                                  159.000                  5.000                     Jawa Timur
              PT Bank Pembangunan Daerah                                                     PT Bank Pembangunan Daerah
                  Sulawesi Selatan dan                                                              Sulawesi Selatan dan
                  Sulawesi Barat                           143.600                51.000                   Sulawesi Barat
              PT Bank Nagari                               136.900                70.750                     PT Bank Nagari
              PT Bank Maybank Indonesia Tbk                129.900                     -    PT Bank Maybank Indonesia Tbk
              PT Bank Sumatera Utara Tbk                   123.600                70.000       PT Bank Sumatera Utara Tbk
              PT Bank Tabungan Negara                                                            PT Bank Tabungan Negara
                (Persero) Tbk - Unit                                                                  (Persero) Tbk - Unit
                Usaha Syariah                               52.460              247.400                     Usaha Syariah
              PT Bank SulutGO                               22.500                    -                    PT Bank SulutGO
              PT Bank Maybank Indonesia Tbk -                                               PT Bank Maybank Indonesia Tbk
                Unit Usaha Syariah                          21.245                42.500            - Unit Usaha Syariah
              PT Bank Danamon Syariah                        9.690                 5.000         PT Bank Danamon Syariah
              PT Bank BTPN Syariah Tbk                       9.000                16.800        PT Bank BTPN Syariah Tbk
              PT Bank DKI Syariah                            7.500                     -               PT Bank DKI Syariah
              Lainnya                                       65.500                56.000                             Others
                                                      2.427.109               1.483.180

          Total Rupiah                               33.879.563              30.811.797                            Total Rupiah

          Mata uang asing                                                                                   Foreign currencies
          USD                                                                                                            USD
          Term deposits                                                                                         Term deposits
              Bank Indonesia                         26.636.810              49.738.163                      Bank Indonesia
          Call Money                                                                                              Call Money
               Wells Fargo Bank N.A.                  3.404.277               5.461.857              Wells Fargo Bank N.A.
               Bank of New York                       1.455.786               1.963.062                   Bank of New York
               PT Bank Negara Indonesia                                                           PT Bank Negara Indonesia
                   (Persero) Tbk.                     1.231.760                 934.050                    (Persero) Tbk.
               BNP Paribas S.A                          469.426                 393.152                    BNP Paribas S.A
               HSBC Bank USA N.A.                       226.336               1.203.368               HSBC Bank USA N.A.
               PT Bank Rakyat Indonesia                                                           PT Bank Rakyat Indonesia
                   (Persero) Tbk.                                -              467.025                    (Persero) Tbk.
               Lainnya                                           -              124.540                              Others
                                                      6.787.585              10.547.054
          Fixed term                                                                                                Fixed term
              Bank of New York                        1.965.427                       -                   Bank of New York
              Standard Chartered Bank                   919.871                 682.941           Standard Chartered Bank
              JP Morgan Chase Bank N.A.                 713.459                 883.376        JP Morgan Chase Bank N.A.
              BNP Paribas S.A                           366.182                 374.801                    BNP Paribas S.A
              Banco Bilbao Vizcaya Argentaria           354.131                       -     Banco Bilbao Vizcaya Argentaria
              Agricultural Bank of China                230.955                 233.513           Agricultural Bank of China
              Bank of Montreal                          138.573                 147.891                    Bank of Montreal
              Bank of China                             123.176                 342.485                        Bank of China
              Ing Bank NV                                93.860                  94.040                         Ing Bank NV
              Nomura Singapura Limitied                  66.751                  35.341         Nomura Singapore Limitied



                                                                     150                                    ANNUAL REPORT 2023    1217
Page 711
            MAIN                        MANAGEMENT                          COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                              ANALYSIS

                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


            6.   PENEMPATAN PADA BANK INDONESIA DAN                              6.     PLACEMENTS WITH BANK                  INDONESIA       AND
                 BANK LAIN (lanjutan)                                                   OTHER BANKS (continued)
                 c.   Penempatan        berdasarkan        counterparty                 c.   By counterparty (continued):
                      (lanjutan):
                                                                   2023                        2022

                      Mata uang asing (lanjutan)                                                                  Foreign currencies (continued)
                      USD (lanjutan)                                                                                            USD (continued)
                          Fixed term (lanjutan)                                                                         Fixed term (continued)
                          PT Bank Negara Indonesia                                                                 PT Bank Negara Indonesia
                              (Persero) Tbk.                                  -                   467.025                    (Persero) Tbk.
                          Lainnya                                        14.888                         -                              Others
                                                                   4.987.273                    3.261.413

                      Deposito                                                                                                    Time deposits
                         Citibank                                       499.605                           -                          Citibank
                         ANZ London                                     169.367                           -                      ANZ London
                         PT Bank CTBC                                   169.367                           -                   PT Bank CTBC
                         PT Bank Negara Indonesia                                                                   PT Bank Negara Indonesia
                               (Persero) Tbk.                            97.001                   264.648                    (Persero) Tbk.
                         PT Bank Rakyat Indonesia                                                                   PT Bank Rakyat Indonesia
                               (Persero) Tbk.                            61.588                   311.350                    (Persero) Tbk.
                         PT Bank Danamon                                                                                  PT Bank Danamon
                               Indonesia Tbk.                                -                     31.462                   Indonesia Tbk.
                                                                        996.928                   607.460
                                                                 39.408.596                    64.154.090
                      CNY                                                                                                                    CNY
                      Fixed term                                                                                                       Fixed term
                          Agricultural Bank of China                    347.166                         -            Agricultural Bank of China
                          Bank of China                                 195.305                   358.225                         Bank of China
                                                                        542.471                   358.225
                      EUR                                                                                                                 EUR
                      Deposito                                                                                                    Time deposit
                         PT Bank Negara Indonesia                                                                   PT Bank Negara Indonesia
                          (Persero) Tbk.                                 34.104                           -                  (Persero) Tbk.
                                                                          34.104                          -
                      SGD                                                                                                               SGD
                      Deposito                                                                                                   Time deposit
                         PT Bank UOB Indonesia                           23.423                           -          PT Bank UOB Indonesia
                                                                         23.423                           -
                      Total mata uang asing                       40.008.594                   64.512.315                   Total foreign currencies

                                                                 73.888.157                    95.324.112
                      Dikurangi: cadangan kerugian                                                                              Less: allowance for
                          penurunan nilai                                 (957)                    (3.601)                     impairment losses
                      Neto                                       73.887.200                    95.320.511                                       Net

                 d.   Tingkat suku bunga rata-rata (yield) per tahun:                   d.   Average interest rate (yield) per annum:
                                                                   2023                        2022

                      Rupiah                                             2,25 %                     0,69%                                Rupiah
                      Mata uang asing (disetarakan                                                              Foreign currencies (equivalent to
                          dalam Rupiah)                                  3,50 %                     1,03%                             Rupiah)




1218 PT Bank Mandiri (Persero) Tbk                                                    151
Page 712
      CORPORATE                              ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                        LAPORAN
                                                                                                                                                           Financial
      GOVERNANCE                             & PRACTICES                                 RESPONSIBILITY                                                  KEUANGAN   2023
                                                                                                                                                           Statements 2023

                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


6.   PENEMPATAN PADA BANK INDONESIA DAN                                                6.        PLACEMENTS WITH BANK                                   INDONESIA             AND
     BANK LAIN (lanjutan)                                                                        OTHER BANKS (continued)

     e.   Mutasi cadangan kerugian                        penurunan         nilai                e.   Movements of allowance for impairment losses on
          penempatan pada bank lain:                                                                  placements with other banks:

                                                                            2023                           2022

          Saldo awal tahun                                                          3.601                          1.675                                  Beginning balance
          (Pembalikan)/pembentukan                                                                                                                      (Reversal)/allowance
              selama tahun                                                                                                                                 during the year
              berjalan (Catatan 46)                                            (2.418)                             1.948                                         (Note 46)
          Lain-lain*)                                                            (226)                               (22)                                             Others*)

          Saldo akhir tahun                                                          957                           3.601                                         Ending balance

          **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              *)   Included effect of foreign currencies translation.

                                                                                             2023
                                                             Stage 1           Stage 2                Stage 3                   Total

          Saldo awal tahun                                         3.601                     -                       -                3.601                        Beginning balance

          Pengukuran kembali bersih                                                                                                                             Net remeasurement of
            penyisihan kerugian                                  (2.217)                     -                       -               (2.217)                      losses allowance
          Aset keuangan baru yang                                                                                                                                New financial assets
            diterbitkan atau                                                                                                                                           originated or
            dibeli                                                 1.677                     -                       -                1.677                              purchased
          Aset keuangan yang                                                                                                                                          Financial assets
            dihentikan pengakuannya                              (1.878)                     -                       -               (1.878)                          derecognised

          Total pembentukan                                                                                                                                           Total allowance
             tahun berjalan                                      (2.418)                     -                       -               (2.418)                        during the year
          Lain-lain*)                                              (226)                     -                       -                 (226)                                   Others*)

          Saldo akhir tahun                                          957                     -                       -                   957                         Ending balance

          **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              *)   Included effect of foreign currencies translation.

                                                                                             2022
                                                             Stage 1           Stage 2                Stage 3                   Total

          Saldo awal tahun                                         1.675                     -                       -                1.675                        Beginning balance

          Pengukuran kembali bersih                                                                                                                             Net remeasurement of
            penyisihan kerugian                                      971                     -                       -                   971                      losses allowance
          Aset keuangan baru yang                                                                                                                                New financial assets
            diterbitkan atau                                                                                                                                           originated or
            dibeli                                                 2.058                     -                       -                2.058                              purchased
          Aset keuangan yang                                                                                                                                          Financial assets
            dihentikan pengakuannya                               (1.081)                    -                       -               (1.081)                          derecognised

          Total pembentukan                                                                                                                                           Total allowance
             tahun berjalan                                        1.948                     -                       -                1.948                         during the year

          Lain-lain*)                                                (22)                    -                       -                   (22)                                 Others*)

          Saldo akhir tahun                                        3.601                     -                       -                3.601                          Ending balance

          **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              *)   Included effect of foreign currencies translation.


          Manajemen    berpendapat    bahwa     jumlah                                                Management believes that the allowance for
          cadangan kerugian penurunan nilai penempatan                                                impairment losses on placements with Bank
          pada Bank Indonesia dan bank lain telah                                                     Indonesia and other banks is adequate.
          memadai.

     f.   Informasi       mengenai        pengklasifikasian                                      f.   Information in respect of classification of
          berdasarkan     kelompok    “tidak   mengalami                                              “non-impaired” and “impaired” is disclosed in Note
          penurunan nilai” dan “mengalami penurunan                                                   62A.
          nilai” diungkapkan pada Catatan 62A.




                                                                                            152                                                           ANNUAL REPORT 2023              1219
Page 713
            MAIN                                    MANAGEMENT                                        COMPANY                                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                              REPORTS                                           PROFILE                                       ANALYSIS

                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                         (Expressed in millions of Rupiah, unless otherwise stated)


            6.   PENEMPATAN PADA BANK INDONESIA DAN                                                     6.     PLACEMENTS WITH BANK                                 INDONESIA              AND
                 BANK LAIN (lanjutan)                                                                          OTHER BANKS (continued)

                 g.   Pada tanggal 31 Desember 2023 dan 2022,                                                  g.   As of 31 December 2023 and 2022, placements
                      penempatan dengan saldo USD4.335.315 (nilai                                                   with a balance of USD4,335,315 (full amount) and
                      penuh) dan USD2.270.190 (nilai penuh)                                                         USD2,270,190 (full amount) were pledged for fund
                      dijaminkan untuk fasilitas pinjaman yang diterima                                             borrowings from other banks (Note 36d).
                      dari bank lain (Catatan 36d).


            7.   EFEK-EFEK                                                                              7.     MARKETABLE SECURITIES

                 a.   Berdasarkan tujuan, pihak berelasi dan pihak                                             a.   By purpose, related parties and third parties:
                      ketiga:

                                                                                          2023                            2022

                      Efek-efek                                                                                                                                 Marketable securities
                      Pihak berelasi (Catatan 56):                                                                                                          Related parties (Note 56):
                          Diukur pada nilai wajar                                                                                                                Fair value through
                            melalui laba rugi                                               3.138.746                          363.281                               profit or loss
                          Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                            penghasilan komprehensif lain                                 10.625.541                      14.060.476                      comprehensive income
                          Diukur pada biaya perolehan
                            diamortisasi                                                    3.668.508                       4.834.818                                 At amortised cost
                          Diukur pada biaya perolehan*)                                       309.017                         281.259                                          At cost*)

                                                                                          17.741.812                      19.539.834

                      Pihak ketiga:                                                                                                                                       Third parties:
                          Diukur pada nilai wajar                                                                                                                 Fair value through
                            melalui laba rugi                                             16.116.963                      10.724.161                                  profit or loss
                          Diukur pada nilai wajar melalui                                                                                                   Fair value through other
                            penghasilan komprehensif lain                                 38.208.496                      15.277.832                       comprehensive income
                          Diukur pada biaya perolehan
                            diamortisasi                                                    2.231.038                      3.120.999                                  At amortised cost
                          Diukur pada biaya perolehan*)                                       991.866                     10.967.719                                           At cost*)

                                                                                          57.548.363                      40.090.711
                      Investasi pada unit-link **)                                                                                             Investments in unit-link contracts **)
                      Pihak berelasi (Catatan 56):                                                                                                     Related parties (Note 56):
                          Diukur pada nilai wajar                                                                                                            Fair value through
                           melalui laba rugi                                                6.032.327                       7.750.743                            profit or loss

                      Pihak ketiga:                                                                                                                                          Third parties:
                          Diukur pada nilai wajar                                                                                                                    Fair value through
                            melalui laba rugi                                             13.259.620                      15.439.438                                     profit or loss


                                                                                          19.291.947                      23.190.181

                      Total                                                               94.582.122                      82.820.726                                                       Total

                      Ditambah/(dikurangi):                                                                                                                                 Add/(less):
                          Premi yang belum diamortisasi                                              8.829                       18.986                     Unamortised premiums
                          Keuntungan yang belum                                                                                                                  Unrealised gain on
                            direalisasi dari kenaikan                                                                                                       increase in fair value
                            nilai wajar efek-efek                                              105.165                            1.297                  of marketable securities
                          Cadangan kerugian                                                                                                                           Allowance for
                            penurunan nilai                                                   (150.275)                        (41.191)                        impairment losses

                                                                                               (36.281)                        (20.908)

                      Neto                                                                94.545.841                      82.799.818                                                         Net

                      *)    Efek-efek yang dimiliki Entitas Anak.                                                   *)    Marketable securities owned by Subsidiariary.
                      **)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                   **)   Investments in unit-link contracts are investments owned by
                            polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                        policyholders of unit-link contracts of Subsidiary which are presented at
                            wajar.                                                                                        fair value.




1220 PT Bank Mandiri (Persero) Tbk                                                                           153
Page 714
     CORPORATE                               ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                                          LAPORAN
                                                                                                                                                            Financial
     GOVERNANCE                              & PRACTICES                                RESPONSIBILITY                                                    KEUANGAN   2023
                                                                                                                                                            Statements 2023

                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                              7.     MARKETABLE SECURITIES (continued)

     a.   Berdasarkan tujuan, pihak berelasi dan pihak                                        a.      By purpose, related parties and third parties
          ketiga (lanjutan):                                                                          (continued):

          Berikut adalah perubahan efek-efek dengan                                                   Movements of marketable securities classified as
          klasifikasi biaya perolehan diamortisasi dan biaya                                          at amortised cost and at cost for the year ended
          perolehan untuk tahun yang berakhir pada                                                    31 December 2023 and 2022 are as follows:
          tanggal 31 Desember 2023 dan 2022:

                                                                                              2023
                                                                                                                   Syariah*)/
                                                   Stage 1             Stage 2              Stage 3                 Sharia*)                 Total


          Biaya perolehan diamortisasi                                                                                                                           At amortised cost
          Saldo awal tahun                          7.916.557               58.246                          -         11.248.978             19.223.781          Beginning balance

          Pengukuran kembali                          (48.951)                    -                         -                      -            (48.951)       Remeasurement
          Aset keuangan yang                                                                                                                            New purchased financial
            baru dibeli                             2.078.628                     -                         -            495.858              2.574.486                assets
          Aset keuangan yang                                                                                                                            Matured or sold financial
            jatuh tempo atau dijual                (3.937.210)                    -                         -       (10.387.555)           (14.324.765)                assets

          Total (penurunan)/penambahan                                                                                                                 Total (decrease)/increase
             tahun berjalan                        (1.907.533)                    -                         -        (9.891.697)           (11.799.230)        during the year
          Lain-lain**)                               (158.895)                    -                         -           (56.398)              (215.293)                  Others**)

          Saldo akhir tahun                         5.850.129               58.246                          -          1.300.883              7.209.258            Ending balance


          *)    Tidak menerapkan PSAK 71.                                                             *)    Not implement SFAS 71
          **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)   Included effect of foreign currencies translation.


                                                                                              2022
                                                                                                                   Syariah*)/
                                                   Stage 1             Stage 2              Stage 3                 Sharia*)                 Total


          Biaya perolehan diamortisasi                                                                                                                           At amortised cost
          Saldo awal tahun                          8.409.053              123.325                          -         28.499.999             37.032.377          Beginning balance

          Pengukuran kembali                            20.871                    -                         -            190.000                210.871         Remeasurement
          Aset keuangan yang                                                                                                                             New purchased financial
            baru dibeli                             4.624.870               66.461                          -         10.741.355             15.432.686                 assets
          Aset keuangan yang                                                                                                                             Matured or sold financial
            jatuh tempo atau dijual                 (4.591.771)            (131.540)                        -        (28.188.710)           (32.912.021)                assets

          Total (penurunan)/penambahan                                                                                                                 Total (decrease)/increase
             tahun berjalan                             53.970              (65.079)                        -        (17.257.355)           (17.268.464)       during the year
          Lain-lain**)                               (546.466)                    -                         -              6.334               (540.132)                 Others**)

          Saldo akhir tahun                         7.916.557               58.246                          -         11.248.978             19.223.781            Ending balance


          *)    Tidak menerapkan PSAK 71.                                                             *)    Not implement SFAS 71
          **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)   Included effect of foreign currencies translation.




                                                                                            154                                                            ANNUAL REPORT 2023        1221
Page 715
            MAIN                                   MANAGEMENT                                    COMPANY                                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                       PROFILE                                           ANALYSIS

                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                   (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                             7.     MARKETABLE SECURITIES (continued)

                 a.   Berdasarkan tujuan, pihak berelasi dan pihak                                       a.      By purpose, related parties and third parties
                      ketiga (lanjutan):                                                                         (continued):

                      Berikut adalah perubahan efek-efek dengan                                                  Movements of marketable securities classified as
                      klasifikasi nilai wajar melalui penghasilan                                                fair value through other comprehensive income for
                      komprehensif lain untuk tahun yang berakhir                                                the year ended 31 December 2023 and 2022 are
                      pada tanggal 31 Desember 2023 dan 2022:                                                    as follows:

                                                                                                         2023
                                                                                                                              Syariah*)/
                                                               Stage 1             Stage 2             Stage 3                 Sharia*)                 Total


                      Nilai wajar melalui                                                                                                                              Fair value through
                         penghasilan                                                                                                                               other comprehensive
                         komprehensif lain                                                                                                                                       income
                      Saldo awal tahun                         29.308.811                    -                         -                      -         29.308.811       Beginning balance

                      Pengukuran kembali                          (97.095)                   -               39.496                           -            (57.599)       Remeasurement
                      Aset keuangan yang                                                                                                                           New purchased financial
                        baru dibeli                                913.899                   -                         -         23.629.746            24.543.645                 assets
                      Aset keuangan yang                                                                                                                           Matured or sold financial
                        jatuh tempo atau dijual                (4.990.318)                   -                         -                      -        (4.990.318)                assets

                      Total (penurunan)/penambahan                                                                                                                Total (decrease)/increase
                         tahun berjalan                        (4.173.514)                   -               39.496              23.629.746             19.495.728        during the year
                      Lain-lain**)                                  19.261                   -                    -                       -                 19.261                  Others**)

                      Saldo akhir tahun                        25.154.558                    -               39.496              23.629.746             48.823.800          Ending balance


                      *)    Tidak menerapkan PSAK 71.                                                            *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                             **)   Included effect of foreign currencies translation.


                                                                                                         2022
                                                                                                                              Syariah*)/
                                                               Stage 1             Stage 2             Stage 3                 Sharia*)                 Total


                      Nilai wajar melalui                                                                                                                              Fair value through
                         penghasilan                                                                                                                               other comprehensive
                         komprehensif lain                                                                                                                                       income
                      Saldo awal tahun                         21.471.277                    -                         -            194.783             21.666.060       Beginning balance

                      Pengukuran kembali                           618.265                   -                         -                      -            618.265        Remeasurement
                      Aset keuangan yang                                                                                                                           New purchased financial
                        baru dibeli                            10.610.334                    -                         -                      -        10.610.334                 assets
                      Aset keuangan yang                                                                                                                           Matured or sold financial
                        jatuh tempo atau dijual                 (3.015.142)                  -                         -           (194.783)           (3.209.925)                assets

                      Total (penurunan)/penambahan                                                                                                                Total (decrease)/increase
                         tahun berjalan                         8.213.457                    -                         -           (194.783)             8.018.674        during the year
                      Lain-lain**)                              (375.923)                    -                         -                   -             (375.923)                  Others**)

                      Saldo akhir tahun                        29.308.811                    -                         -                      -         29.308.811          Ending balance


                      *)    Tidak menerapkan PSAK 71.                                                            *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                             **)   Included effect of foreign currencies translation.




1222 PT Bank Mandiri (Persero) Tbk                                                                     155
Page 716
     CORPORATE                                 ESG COMMITMENTS                                         SOCIAL AND ENVIRONMENTAL                                         LAPORAN
                                                                                                                                                                          Financial
     GOVERNANCE                                & PRACTICES                                             RESPONSIBILITY                                                   KEUANGAN   2023
                                                                                                                                                                          Statements 2023

                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                                             7.      MARKETABLE SECURITIES (continued)

     b.   Berdasarkan jenis, mata uang dan kolektibilitas                                                     b.     By type, currency                         and      Bank          Indonesia’s
          Bank Indonesia:                                                                                            collectibility:
                                                                                                            2023
                                                                                                                           Nilai wajar/biaya perolehan/biaya
                                                                                                                                perolehan diamortisasi/
                                                                                                                                      Fair value/at
                                                                                                                                 cost/at amortised cost
                                                   Nilai
                                               perolehan/
                                                   nilai          Premi/          Keuntungan/
                                                nominal/        (diskonto)         (kerugian)
                                               nilai wajar/   yang belum          yang belum
                                                  Cost/       diamortisasi/        direalisasi/
                                                 nominal      Unamortised          Unrealised                                 Kurang
                                                  value/       premiums/              gains/               Lancar/            Lancar/           Macet/
                                                fair value     (discounts)          (losses)               Current          Substandard         Loss            Total

          Rupiah                                                                                                                                                                                      Rupiah
          Diukur pada nilai wajar melalui                                                                                                                                              Fair value through
             laba rugi                                                                                                                                                                      profit or loss
             Efek-efek                                                                                                                                                            Marketable securities
                 Sekuritas Rupiah                                                                                                                                                     Bank Indonesia
                      Bank Indonesia              4.648.632                   -          26.950             4.675.582                     -               -     4.675.582         Rupiah Securities
                 Obligasi                         2.429.868                   -           5.484             2.435.352                     -               -     2.435.352                        Bonds
                 Sukuk Bank                                                                                                                                                             Certificates of
                     Indonesia                    2.424.704                   -            9.578            2.434.282                     -               -     2.434.282           Bank Indonesia
                 Investasi pada unit-unit                                                                                                                                              Investments in
                     reksa dana                     577.307                   -                   -           577.307                     -               -       577.307          mutual fund units
                 Saham                              356.161                   -                   -           356.161                     -               -       356.161                       Shares
                 Sertifikat Investasi                                                                                                                                          Interbank Mudharabah
                      Mudharabah                                                                                                                                             Investment Certificate
                     Antarbank                      149.957                   -             174               150.131                     -               -       150.131                   (“SIMA”)
                 Negotiable certificate                                                                                                                                          Negotiable certificate
                     of deposit                     145.319                   -            1.531              146.850                     -               -       146.850                of deposits
                 Efek Beragun Aset                   57.934                   -          (2.017)               55.917                     -               -        55.917       Asset-backed security
                                                 10.789.882                   -          41.700            10.831.582                     -               -    10.831.582
                Investasi pada                                                                                                                                                    Investments in unit-link
                    unit-link *)                                                                                                                                                              contracts *)
                    Saham                        12.836.391                   -                   -        12.836.391                     -               -    12.836.391                       Shares
                    Investasi pada unit-unit                                                                                                                                            Investments in
                        reksa dana                1.195.468                   -                   -         1.195.468                     -               -     1.195.468           mutual fund units
                    Obligasi                        692.709                   -                   -           692.709                     -               -       692.709                        Bonds
                                                 14.724.568                   -                   -        14.724.568                     -               -    14.724.568

                                                 25.514.450                   -          41.700            25.556.150                     -               -    25.556.150

          Diukur pada nilai wajar melalui                                                                                                                                         Fair value through other
             penghasilan komprehensif lain                                                                                                                                       comprehensive income
             Efek-efek                                                                                                                                                             Marketable securities
                 Sukuk Bank Indonesia            20.744.693                   -                   -        20.744.693                     -               -    20.744.693                       Sukuk BI
                 Investasi pada unit-unit                                                                                                                                                  Investments in
                     reksa dana                  19.609.721                   -         199.478            19.809.199                     -              -     19.809.199          mutual fund units
                 Obligasi                         3.041.974                   -           1.289             3.003.767                     -         39.496      3.043.263                         Bonds
                 Saham                              162.074                   -               -               162.074                     -              -        162.074                         Shares
                 Obligasi syariah perusahaan        120.890                   -               -               120.890                     -              -        120.890        Sharia corporate bonds
                 Medium term notes                  100.396                   -               -               100.396                     -              -        100.396            Medium term notes

                                                 43.779.748                   -         200.767            43.941.019                     -         39.496     43.980.515
          Diukur pada biaya perolehan
             diamortisasi                                                                                                                                                               At amortised cost
             Efek-efek                                                                                                                                                             Marketable securities
                 Obligasi                         2.773.000              18                       -         2.773.018                     -               -     2.773.018                      Bonds
                 Wesel ekspor                       457.165               -                       -           457.165                                             457.165                  Export bills
                 Medium term notes                  245.000               -                       -           245.000                     -               -       245.000          Medium term notes
                 Efek Beragun Aset                   68.874               -                       -            68.874                                              68.874        Asset-backed security

                                                  3.544.039              18                       -         3.544.057                     -               -     3.544.057
          Diukur pada biaya perolehan**)                                                                                                                                                       At cost **)
             Efek-efek                                                                                                                                                          Marketable securities
             Obligasi syariah perusahaan            787.800                   -                   -           688.800                     -         99.000        787.800    Sharia corporate bonds
             Sertifikat Pengelolaan Dana                                                                                                                                  Sharia Compliant Interbank
                 Berdasarkan Prinsip                                                                                                                                            Fund Management
                 Syariah Antarbank                  250.000                   -                   -           250.000                     -               -       250.000       Certificate (“SIPA”)
             Medium term notes                      160.000                   -                   -           160.000                     -               -       160.000       Medium term notes
             Wesel ekspor                           103.083                   -                   -           103.083                     -               -       103.083                  Export bills

                                                  1.300.883                   -                   -         1.201.883                     -         99.000      1.300.883
          Total                                  74.139.120              18             242.467            74.243.109                     -        138.496     74.381.605                             Total


          *)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                                *)         Unit-link investments are investments owned by policyholders in
                polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                          Subsidiary unit-link contracts which are presented at fair value.
                wajar.
          **)   Efek-efek yang dimiliki Entitas Anak.                                                                **)        Marketable securities owned by Subsidiary.




                                                                                                           156                                                           ANNUAL REPORT 2023                    1223
Page 717
            MAIN                                        MANAGEMENT                                        COMPANY                                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                  REPORTS                                           PROFILE                                                   ANALYSIS

                                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                                             7.      MARKETABLE SECURITIES (continued)

                 b.   Berdasarkan jenis, mata uang dan kolektibilitas                                                     b.     By type, currency and                            Bank       Indonesia’s
                      Bank Indonesia (lanjutan):                                                                                 collectibility (continued):
                                                                                                                        2023
                                                                                                                                      Nilai wajar/biaya perolehan/biaya
                                                                                                                                           perolehan diamortisasi/
                                                                                                                                                 Fair value/at
                                                                                                                                            cost/at amortised cost
                                                               Nilai
                                                           perolehan/
                                                               nilai          Premi/          Keuntungan/
                                                            nominal/        (diskonto)         (kerugian)
                                                           nilai wajar/   yang belum          yang belum
                                                              Cost/       diamortisasi/        direalisasi/
                                                             nominal      Unamortised          Unrealised                                Kurang
                                                              value/       premiums/              gains/               Lancar/           Lancar/           Macet/
                                                            fair value     (discounts)          (losses)               Current         Substandard         Loss           Total

                      Mata uang asing                                                                                                                                                        Foreign currencies
                      Diukur pada nilai wajar melalui                                                                                                                                          Fair value through
                         laba rugi                                                                                                                                                                  profit or loss
                         Efek-efek                                                                                                                                                        Marketable securities
                             Treasury bills                   6.914.852                   -          59.772             6.974.624                    -               -     6.974.624            Treasury bills
                             Sekuritas Valas                                                                                                                                           Bank Indonesia foreign
                                Bank Indonesia                1.214.911                   -            6.803            1.221.714                    -               -     1.221.714     currency securities
                             Treasury Bonds                     196.192                   -            7.127              203.319                    -               -       203.319          Treasury Bonds
                             Obligasi                           139.872                   -                -              139.872                    -               -       139.872                    Bonds

                                                              8.465.827                   -          73.702             8.539.529                    -               -     8.539.529
                                                                                                                                                                                          Investments in unit-link
                           Investasi pada unit-link*)
                                                                                                                                                                                                     contracts*)
                               Investasi pada unit-unit                                                                                                                                         Investments in
                                   reksa dana                 4.567.379                   -                   -         4.567.379                    -               -     4.567.379        mutual fund units
                                                              4.567.379                   -                   -         4.567.379                    -               -     4.567.379
                                                             13.033.206                   -          73.702            13.106.908                    -               -    13.106.908

                      Diukur pada nilai wajar melalui                                                                                                                                    Fair value through other
                         penghasilan komprehensif lain                                                                                                                                  comprehensive income
                         Efek-efek                                                                                                                                                        Marketable securities
                             Obligasi                         1.958.130                   -         (85.070)            1.873.060                    -               -     1.873.060                    Bonds
                             Sekuritas Valas                                                                                                                                           Bank Indonesia foreign
                                Bank Indonesia                1.544.442                   -                -            1.544.442                    -               -     1.544.442     currency securities
                             Treasury bills                   1.551.717                   -        (125.934)            1.425.783                    -               -     1.425.783            Treasury bills
                                                              5.054.289                   -        (211.004)            4.843.285                    -               -     4.843.285
                      Diukur pada biaya perolehan
                         diamortisasi                                                                                                                                                         At amortised cost
                         Efek-efek                                                                                                                                                        Marketable securities
                             Obligasi                           966.147          (4.359)                      -           961.788                    -               -      961.788                     Bonds
                             Wesel ekspor                       711.892                -                      -           711.892                    -               -      711.892                Export bills
                             Treasury bills                     677.468          13.170                       -           690.638                    -               -      690.638              Treasury bills
                                                              2.355.507           8.811                       -         2.364.318                    -               -     2.364.318

                      Total (Catatan 62.B.(iv))              20.443.002           8.811            (137.302)           20.314.511                    -               -    20.314.511        Total (Note 62.B.(iv))
                                                             94.582.122           8.829             105.165            94.557.620                    -        138.496     94.696.116

                      Dikurangi: cadangan kerugian                                                                                                                                            Less: allowance for
                         penurunan nilai                                                                                                                                   (150.275)         impairment losses
                      Neto                                                                                                                                                94.545.841                          Net


                      *)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                                 *)        Unit-link investments are investments owned by policyholders in
                           polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                          Subsidiary unit-link contracts which are presented at fair value.
                           wajar.




1224 PT Bank Mandiri (Persero) Tbk                                                                                     157
Page 718
     CORPORATE                                 ESG COMMITMENTS                                         SOCIAL AND ENVIRONMENTAL                                           LAPORAN
                                                                                                                                                                            Financial
     GOVERNANCE                                & PRACTICES                                             RESPONSIBILITY                                                     KEUANGAN   2023
                                                                                                                                                                            Statements 2023

                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                                             7.      MARKETABLE SECURITIES (continued)

     b.   Berdasarkan jenis, mata uang dan kolektibilitas                                                     b.     By type, currency and                                 Bank         Indonesia’s
          Bank Indonesia (lanjutan):                                                                                 collectibility (continued):
                                                                                                            2022
                                                                                                                           Nilai wajar/biaya perolehan/biaya
                                                                                                                                perolehan diamortisasi/
                                                                                                                                      Fair value/at
                                                                                                                                 cost/at amortised cost
                                                   Nilai
                                               perolehan/
                                                   nilai          Premi/          Keuntungan/
                                                nominal/        (diskonto)         (kerugian)
                                               nilai wajar/   yang belum          yang belum
                                                  Cost/       diamortisasi/        direalisasi/
                                                 nominal      Unamortised          Unrealised                                 Kurang
                                                  value/       premiums/              gains/               Lancar/            Lancar/           Macet/
                                                fair value     (discounts)          (losses)               Current          Substandard         Loss              Total

          Rupiah                                                                                                                                                                                     Rupiah
          Diukur pada nilai wajar melalui                                                                                                                                                Fair value through
             laba rugi                                                                                                                                                                        profit or loss
             Efek-efek                                                                                                                                                              Marketable securities
                 Investasi pada unit-unit                                                                                                                                                Investments in
                     reksa dana                     146.827                   -                   -           146.827                     -               -         146.827         mutual fund units
                                                                                                                                                                                          Certificates of
                   Sukuk Bank Indonesia             300.000                   -             288               300.288                     -               -         300.288           Bank Indonesia
                   Saham                            319.871                   -               -               319.871                     -               -         319.871                       Shares
                   Negotiable certificate                                                                                                                                          Negotiable certificate
                      of deposit                    155.415                   -               25              155.440                     -               -         155.440                of deposits
                   Efek Beragun Aset                 26.148                   -          (2.718)               23.430                     -               -          23.430       Asset-backed security
                                                    948.261                   -          (2.405)              945.856                     -               -         945.856
                Investasi pada                                                                                                                                                     Investments in unit-link
                    unit-link *)                                                                                                                                                             contracts *)
                    Saham                        16.854.079                   -                   -        16.854.079                     -               -       16.854.079                    Shares
                    Investasi pada unit-unit                                                                                                                                             Investments in
                        reksa dana                  912.426                   -                   -           912.426                     -               -         912.426          mutual fund units
                    Obligasi                        408.306                   -                   -           408.306                     -               -         408.306                      Bonds

                                                 18.174.811                   -                   -        18.174.811                     -                   -   18.174.811
                                                 19.123.072                   -          (2.405)           19.120.667                     -                   -   19.120.667

          Diukur pada nilai wajar melalui                                                                                                                                           Fair value through other
             penghasilan komprehensif lain                                                                                                                                         comprehensive income
             Efek-efek                                                                                                                                                               Marketable securities
                 Investasi pada unit-unit                                                                                                                                                   Investments in
                     reksa dana                  18.846.533                   -         197.629            19.044.162                     -               -       19.044.162           mutual fund units
                 Saham                              125.889                   -               -               125.889                     -               -          125.889                        Shares
                 Obligasi                         3.871.393                   -          38.232             3.909.625                     -               -        3.909.625                        Bonds

                                                 22.843.815                   -         235.861            23.079.676                     -               -       23.079.676

          Diukur pada biaya perolehan
             diamortisasi                                                                                                                                                                 At amortised cost
             Efek-efek                                                                                                                                                              Marketable securities
                 Obligasi                         4.030.774              24                       -         4.030.798                     -               -        4.030.798                       Bonds
                 Efek Beragun Aset                  102.732               -                       -           102.732                     -               -          102.732      Asset-backed security
                 Wesel ekspor                       985.360               -                       -           985.360                     -               -          985.360      Export bills and others
                 Medium term notes                  245.000               -                       -           245.000                     -               -          245.000        Medium term notes

                                                  5.363.866              24                       -         5.363.890                     -               -        5.363.890

          Diukur pada biaya perolehan**)                                                                                                                                                          At cost **)
             Efek-efek                                                                                                                                                             Marketable securities
             Wesel ekspor dan lainnya               119.194                   -                   -           119.194                     -               -         119.194       Export bills and others
             Medium term notes                      160.000                   -                   -           160.000                     -               -         160.000          Medium term notes
             Obligasi syariah perusahaan            742.800                   -                   -           742.800                     -               -         742.800     Sharia corporate bonds
             Sertifikat Investasi                                                                                                                                                Interbank Mudharabah
                 Mudharabah                                                                                                                                                     Investment Certificate
                 Antarbank                          690.000                   -                   -           690.000                     -               -          690.000                   (“SIMA”)
             Sertifikat Pengelolaan Dana                                                                                                                                     Sharia Compliant Interbank
                 Berdasarkan Prinsip                                                                                                                                               Fund Management
                 Syariah Antarbank                  934.000                   -                   -           934.000                     -               -          934.000       Certificate (“SIPA”)
             Sukuk Bank Indonesia                 8.602.984                   -                   -         8.602.984                     -               -        8.602.984     Sukuk Bank Indonesia
                                                 11.248.978                   -                   -        11.248.978                     -               -       11.248.978
          Total                                  58.579.731              24             233.456            58.813.211                     -                   -   58.813.211                           Total


          *)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                                *)         Unit-link investments are investments owned by policyholders in
                polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                          Subsidiary unit-link contracts which are presented at fair value.
                wajar.
          **)   Efek-efek yang dimiliki Entitas Anak.                                                                **)        Marketable securities owned by Subsidiary.




                                                                                                           158                                                              ANNUAL REPORT 2023                  1225
Page 719
            MAIN                                      MANAGEMENT                                         COMPANY                                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                REPORTS                                            PROFILE                                                      ANALYSIS

                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                    NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                           FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                  (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                                            7.      MARKETABLE SECURITIES (continued)

                 b.   Berdasarkan jenis, mata uang dan kolektibilitas                                                    b.     By type, currency and                                  Bank       Indonesia’s
                      Bank Indonesia (lanjutan):                                                                                collectibility (continued):
                                                                                                                       2022
                                                                                                                                     Nilai wajar/biaya perolehan/biaya
                                                                                                                                          perolehan diamortisasi/
                                                                                                                                                Fair value/at
                                                                                                                                           cost/at amortised cost
                                                              Nilai
                                                          perolehan/
                                                              nilai          Premi/          Keuntungan/
                                                           nominal/        (diskonto)         (kerugian)
                                                          nilai wajar/   yang belum          yang belum
                                                             Cost/       diamortisasi/        direalisasi/
                                                            nominal      Unamortised          Unrealised                                Kurang
                                                             value/       premiums/              gains/               Lancar/           Lancar/              Macet/
                                                           fair value     (discounts)          (losses)               Current         Substandard            Loss              Total

                      Mata uang asing                                                                                                                                                            Foreign currencies
                      Diukur pada nilai wajar melalui                                                                                                                                              Fair value through
                         laba rugi                                                                                                                                                                      profit or loss
                         Efek-efek                                                                                                                                                             Marketable securities
                             Obligasi                           83.232                   -               -                83.232                        -              -           83.232                   Bonds
                             Treasury bills                 10.055.949                   -          33.199            10.089.148                         -             -       10.089.148           Treasury bills

                                                            10.139.181                   -          33.199            10.172.380                        -              -       10.172.380
                                                                                                                                                                                              Investments in unit-link
                           Investasi pada unit-link *)                                                                                                                                                   contracts*)
                               Investasi pada unit-unit                                                                                                                                             Investments in
                                   reksa dana                5.015.370                   -                   -         5.015.370                    -                  -        5.015.370       mutual fund units
                                                             5.015.370                   -                   -         5.015.370                    -                  -        5.015.370
                                                            15.154.551                   -          33.199            15.187.750                    -                      -   15.187.750
                      Diukur pada nilai wajar melalui                                                                                                                                         Fair value through other
                         penghasilan komprehensif lain                                                                                                                                         comprehensive income
                         Efek-efek                                                                                                                                                               Marketable securities
                             Obligasi                        5.262.061                   -        (150.277)            5.111.784                    -                  -        5.111.784                      Bonds
                             Treasury bills                  1.232.432                   -        (115.081)            1.117.351                    -                  -        1.117.351                Treasury bills
                                                             6.494.493                   -        (265.358)            6.229.135                    -                      -    6.229.135

                      Diukur pada biaya perolehan
                         diamortisasi                                                                                                                                                                At amortised cost
                         Efek-efek                                                                                                                                                             Marketable securities
                             Wesel ekspor                      976.838               -                       -           976.838                    -                  -         976.838     Export bills and others
                             Obligasi                          930.143           2.660                       -           932.803                    -                  -         932.803                      Bonds
                             Treasury bills                    684.970          16.302                       -           701.272                    -                  -         701.272              Treasury bills
                                                             2.591.951          18.962                       -         2.610.913                    -                      -    2.610.913

                      Total (Catatan 62.B.(iv))             24.240.995          18.962            (232.159)           24.027.798                    -                      -   24.027.798        Total (Note 62.B.(iv))
                                                            82.820.726          18.986                1.297           82.841.009                    -                      -   82.841.009

                      Dikurangi: cadangan kerugian                                                                                                                                                 Less: allowance for
                         penurunan nilai                                                                                                                                          (41.191)        impairment losses
                      Neto                                                                                                                                                     82.799.818                          Net


                      *)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                                *)        Unit-link investments are investments owned by policyholders in
                           polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                         Subsidiary unit-link contracts which are presented at fair value.
                           wajar.




1226 PT Bank Mandiri (Persero) Tbk                                                                                    159
Page 720
     CORPORATE                              ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                              LAPORAN
                                                                                                                                                 Financial
     GOVERNANCE                             & PRACTICES                                  RESPONSIBILITY                                        KEUANGAN   2023
                                                                                                                                                 Statements 2023

                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                               7.     MARKETABLE SECURITIES (continued)

     c.   Berdasarkan sisa umur hingga jatuh tempo:                                            c.   By maturity:

                                                                           2023                          2022

          Efek-efek                                                                                                                           Marketable securities
              Rupiah                                                                                                                                     Rupiah
                  Tidak mempunyai
                     jatuh tempo                                            1.095.543                       592.587                           No maturity date
                  < 1 tahun                                                33.548.086                    15.099.577                                   < 1 year
                  > 1 < 5 tahun                                            19.370.592                    17.278.208                              > 1 < 5 years
                  > 5 < 10 tahun                                            5.368.544                     7.434.548                            > 5 < 10 years
                  > 10 tahun                                                   31.787                             -                                > 10 years

                  Total                                                    59.414.552                    40.404.920                                              Total

                  Mata uang asing                                                                                                             Foreign currencies
                     < 1 tahun                                             11.514.305                    14.426.574                                   < 1 year
                     > 1 < 5 tahun                                          3.044.306                     3.573.616                              > 1 < 5 years
                     > 5 < 10 tahun                                         1.317.012                       979.656                            > 5 < 10 years
                     > 10 tahun                                                     -                       245.779                                 > 10 years

                  Total                                                    15.875.623                    19.225.625                                              Total

          Investasi pada unit-link*)                                                                                        Investments in unit-link contracts *)
              Rupiah                                                                                                                                  Rupiah
                   Tidak mempunyai
                      jatuh tempo                                          14.031.859                    17.766.505                           No maturity date
                   < 1 tahun                                                  169.472                        17.916                                   < 1 year
                   > 1 < 5 tahun                                              488.461                       385.368                              > 1 < 5 years
                   > 5 < 10 tahun                                              34.776                         5.022                            > 5 < 10 years

                  Total                                                    14.724.568                    18.174.811                                              Total

                  Mata uang asing                                                                                                             Foreign currencies
                     Tidak mempunyai
                        jatuh tempo                                          4.567.379                    5.015.370                           No maturity date

                  Total                                                    19.291.947                    23.190.181                                              Total

                                                                           94.582.122                    82.820.726
          Ditambah/(dikurangi):                                                                                                                        Add/(less):
              Premi yang belum diamortisasi                                        8.829                     18.986                    Unamortised premiums
              Keuntungan yang belum                                                                                                       Unrealised gain on
                direalisasi dari kenaikan                                                                                            increase in fair value of
                nilai wajar efek-efek                                           105.165                         1.297                  marketable securities
              Cadangan kerugian                                                                                                                   Allowance for
                penurunan nilai                                               (150.275)                    (41.191)                       impairment losses

                                                                               (36.281)                    (20.908)

          Neto                                                             94.545.841                    82.799.818                                                  Net

          *)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                *)    Unit-link investments are investments owned by policyholders in
               polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                     Subsidiary unit-link contracts which are presented at fair value.
               wajar.




                                                                                             160                                                ANNUAL REPORT 2023            1227
Page 721
            MAIN                                    MANAGEMENT                                        COMPANY                                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                              REPORTS                                           PROFILE                                               ANALYSIS

                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                           (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                                     7.     MARKETABLE SECURITIES (continued)

                 d.   Berdasarkan golongan penerbit:                                                             d.       By issuer:

                                                                                         2023                                    2022

                      Efek-efek                                                                                                                                              Marketable securities
                          Bank Sentral                                                   30.577.382                                8.902.984                                      Central Bank
                          Perusahaan                                                     29.818.539                               32.788.198                                         Corporate
                          Pemerintah                                                     11.770.096                               11.992.849                                       Government
                          Bank                                                            3.124.158                                5.946.514                                             Banks

                                                                                         75.290.175                               59.630.545

                      Investasi pada unit-link *)                                                                                                       Investments in unit-link contracts *)
                          Perusahaan                                                     12.734.238                               14.510.661                                   Corporate
                          Bank                                                            6.546.720                                8.661.604                                       Banks
                          Pemerintah                                                         10.989                                   17.916                                Government

                                                                                         19.291.947                               23.190.181

                      Total                                                              94.582.122                               82.820.726                                                         Total

                      Ditambah/(dikurangi):                                                                                                                                             Add/(less):
                          Premi yang belum diamortisasi                                            8.829                                18.986                          Unamortised premiums
                                                                                                                                                                             Unrealised gain on
                                Keuntungan yang belum                                                                                                                              increase in
                                  direalisasi dari kenaikan                                                                                                          fair value of marketable
                                  nilai wajar efek-efek                                       105.165                                      1.297                                     securities
                                Cadangan kerugian                                                                                                                                  Allowance for
                                  penurunan nilai                                           (150.275)                                 (41.191)                             impairment losses

                                                                                              (36.281)                                (20.908)

                      Neto                                                               94.545.841                               82.799.818                                                              Net

                      *)     Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                        *)        Unit-link investments are investments owned by policyholders in
                             polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                 Subsidiary unit-link contracts which are presented at fair value.
                             wajar.


                 e.   Rincian obligasi berdasarkan peringkat:                                                    e.       Details of bonds by rating:
                                                                                                                                  Nilai wajar/biaya perolehan/
                                                                                                                                 biaya perolehan diamortisasi/
                                                                                                                                        Fair value/at cost/
                                                                                  Peringkat*)/Rating*)                                  at amortised cost

                                                                        Lembaga
                                                                      pemeringkat/
                                                                         Rating
                                                                        agencies            2023               2022                 2023                2022

                      Rupiah                                                                                                                                                                         Rupiah
                      Diukur pada nilai wajar                                                                                                                                            Fair value through
                         melalui laba rugi                                                                                                                                                   profit or loss
                      Efek-efek                                                                                                                                                        Marketable securities
                         Obligasi                                                                                                                                                                    Bonds
                            Surat Perbendaharaan                                                                                                                                   Surat Perbendaharaan
                                Negara**)                                            -                -               -             2.435.352                    -                             Negara**)
                         Efek beragun aset                                                                                                                                           Asset-backed security
                            PT Sarana Multigriya Finansial                                                                                                                          PT Sarana Multigriya
                                (Persero)                                     Pefindo         idAAA             idAAA                  55.917              23.430                   Finansial (Persero)

                                                                                                                                    2.491.269              23.430

                      Investasi pada unit-link ***)                                                                                                                        Investment in unit-link contracts***)
                         Obligasi                                                                                                                                                                     Bonds
                             PT Federal International Finance                        -                -               -                87.518              11.755        PT Federal International Finance
                             PT Sarana Multigriya Finansial                                                                                                               PT Sarana Multigriya Finansial
                                 (Persero)                                           -                -               -                73.807              54.628                               (Persero)
                             PT XL Axiata Tbk                                        -                -               -                60.564              60.709                       PT XL Axiata Tbk
                             PT Waskita Karya (Persero) Tbk                          -                -               -                49.899              49.670        PT Waskita Karya (Persero) Tbk
                      *)     Informasi peringkat obligasi diperoleh dari Bloomberg yang mencakup                          *)     Information on rating of bonds were obtained from Bloomberg, which is
                             peringkat yang diberikan oleh lembaga pemeringkat seperti Pemeringkat                               based on ratings issued by the rating agencies, such as Pemeringkat Efek
                             Efek Indonesia (Pefindo), Standard and Poor’s, Moody’s dan Fitch                                    Indonesia (Pefindo), Standard and Poor’s, Moody’s and Fitch Ratings.
                             Ratings.
                      **)    Tidak memiliki peringkat.                                                                    **)    No rating.
                      ***)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                        ***)   Investments in unit-link contracts are investments owned by policyholder
                             polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                              of unit link contracts of Subsidiary which are presented at fair value that is
                             wajar yang tidak diperingkat.                                                                       not rated.




1228 PT Bank Mandiri (Persero) Tbk                                                                             161
Page 722
     CORPORATE                               ESG COMMITMENTS                                   SOCIAL AND ENVIRONMENTAL                                            LAPORAN
                                                                                                                                                                     Financial
     GOVERNANCE                              & PRACTICES                                       RESPONSIBILITY                                                      KEUANGAN   2023
                                                                                                                                                                     Statements 2023

                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                           (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                                     7.      MARKETABLE SECURITIES (continued)

     e.   Rincian obligasi berdasarkan peringkat (lanjutan):                                          e.       Details of bonds by rating (continued):
                                                                                                                       Nilai wajar/biaya perolehan/
                                                                                                                      biaya perolehan diamortisasi/
                                                                                                                             Fair value/at cost/
                                                                      Peringkat*)/Rating*)                                   at amortised cost

                                                            Lembaga
                                                          pemeringkat/
                                                             Rating
                                                            agencies            2023               2022                  2023                2022

          Rupiah (lanjutan)                                                                                                                                                   Rupiah (continued)
          Diukur pada nilai wajar                                                                                                                                             Fair value through
             melalui laba rugi (lanjutan)                                                                                                                            profit or loss (continued)
          Investasi pada                                                                                                                                                   Investment in unit-link
             unit-link (lanjutan)***)                                                                                                                                  contracts (continued)***)
             Obligasi (lanjutan)                                                                                                                                             Bonds (continued)
                 PT Indosat Tbk                                          -                -                -                44.528              40.044                         PT Indosat Tbk
                 PT Sarana Multi Infrastruktur                                                                                                                  PT Sarana Multi Infrastruktur
                     (Persero)                                           -                -                -                42.239                    -                             (Persero)
                 PT Bank Rakyat Indonesia                                                                                                                          PT Bank Rakyat Indonesia
                     (Persero) Tbk                                       -                -                -                41.462                    -                        (Persero) Tbk
                 PT Profesional Telekomunikasi                                                                                                                PT Profesional Telekomunikasi
                     Indonesia                                           -                -                -                34.835                    -                            Indonesia
                 PT Kereta Api Indonesia                                                                                                                             PT Kereta Api Indonesia
                      (Persero)                                          -                -                -                32.385              31.959                              (Persero)
                 PT Semen Indonesia                                                                                                                                     PT Semen Indonesia
                     (Persero) Tbk                                       -                -                -                32.247                    -                        (Persero) Tbk
                 PT Adira Dinamika Multi                                                                                                                             PT Adira Dinamika Multi
                     Finance Tbk                                         -                -                -                26.739              10.685                          Finance Tbk
                 PT Bank Maybank                                                                                                                                           PT Bank Maybank
                     Indonesia Tbk                                       -                -                -                25.895              21.303                        Indonesia Tbk
                 PT Mayora Indah Tbk                                     -                -                -                24.432              24.176                 PT Mayora Indah Tbk
                 PT Bank Sulawesi Selatan                                                                                                                          PT Bank Sulawesi Selatan
                     dan Barat                                           -                -                -                21.848              21.834                             dan Barat
                 PT Oto Multiartha                                       -                -                -                20.994                   -                      PT Oto Multiartha
                 PT Toyota Astra Financial Services                      -                -                -                11.003                   -     PT Toyota Astra Financial Services
                 Surat Perbendaharaan Negara**)                          -                -                -                10.989              17.916       Surat Perbendaharaan Negara**)
                 PT Tower Bersama                                                                                                                                         PT Tower Bersama
                     Infrastructure Tbk                                  -                -                -                10.002              13.969                    Infrastructure Tbk
                 PT Astra Sedaya Finance                                 -                -                -                     -              15.979              PT Astra Sedaya Finance
                 PT Medikaloka Hermina Tbk                               -                -                -                     -              10.114           PT Medikaloka Hermina Tbk
                 Lain-lain (masing-masing                                                                                                                                Others (each below
                     di bawah Rp10.000)                                  -                -                -                41.323              23.565                            Rp10,000)

                                                                                                                           692.709             408.306

                                                                                                                         3.183.978             431.736


          Diukur pada nilai wajar                                                                                                                                               Fair value through
             melalui penghasilan                                                                                                                                          other comprehensive
             komprehensif lain                                                                                                                                                            income
          Efek-efek                                                                                                                                                           Marketable securities
             Obligasi                                                                                                                                                                       Bonds
                PT Perusahaan Listrik                                                                                                                                    PT Perusahaan Listrik
                    Negara (Persero)                              Pefindo         idAAA            idAAA                   706.321           1.022.102                      Negara (Persero)
                PT Pupuk Indonesia (Persero)                Fitch Ratings       AAA(idn)         AAA(idn)                  380.819             383.126          PT Pupuk Indonesia (Persero)
                PT Hutama Karya (Persero)                         Pefindo     idAAA(gg)        idAAA(gg)                   328.452             339.166            PT Hutama Karya (Persero)
                PT Bukit Makmur Mandiri Utama                     Pefindo           idA+                -                  230.073                   -        PT Bukit Makmur Mandiri Utama
                PT Profesional                                                                                                                                                    PT Profesional
                    Telekomunikasi Indonesia                Fitch Ratings      AAA(idn)            AAA(idn)                221.641             219.799              Telekomunikasi Indonesia
                PT Pegadaian                                      Pefindo        idAAA               idAAA                 202.089             403.320                            PT Pegadaian
                PT XL Axiata Tbk                            Fitch Ratings      AAA(idn)            AAA(idn)                124.002             122.597                        PT XL Axiata Tbk
                PT Sarana Multi                                                                                                                                                 PT Sarana Multi
                    Infrastruktur (Persero)                      Pefindo          idAAA              idAAA                 101.111             123.761                 Infrastruktur (Persero)
                PT Bank Rakyat                                                                                                                                                  PT Bank Rakyat
                    Indonesia (Persero) Tbk                      Pefindo          idAAA              idAAA                  98.683             349.995                Indonesia (Persero) Tbk
                PT Indosat Tbk                                   Pefindo          idAAA              idAAA                  82.273              73.138                           PT Indosat Tbk
                PT Bank Tabungan Negara                                                                                                                           PT Bank Tabungan Negara
                    (Persero) Tbk.                          Fitch Ratings      AA+(idn)             AA(idn)                 75.950             158.587                          (Persero) Tbk.
                PT Chandra Asri                                                                                                                                                PT Chandra Asri
                    Petrochemical Tbk                            Pefindo           idAA-              idAA-                 72.109              71.479                       Petrochemical Tbk
                PT Tower Bersama                                                                                                                                            PT Tower Bersama
                    Infrastructure Tbk                      Fitch Ratings      AA+(idn)            AA+(idn)                 64.354              40.079                      Infrastructure Tbk
                PT Telkom Indonesia                                                                                                                                       PT Telkom Indonesia
                    (Persero) Tbk                                Pefindo          idAAA              idAAA                  61.061              63.719                           (Persero) Tbk
                PT Kereta Api Indonesia                                                                                                                              PT Kereta Api Indonesia
                     (Persero)                                   Pefindo          idAAA              idAA+                  60.534              59.834                               (Persero)
                PT Bank Negara Indonesia                                                                                                                           PT Bank Negara Indonesia
                    (Persero) Tbk                                Pefindo          idAAA              idAAA                  54.620              56.121                             (Persero) Tbk
                PT Adira Dinamika Multi                                                                                                                               PT Adira Dinamika Multi
                    Finance Tbk                                  Pefindo          idAAA              idAAA                  50.332              51.953                              Finance Tbk
                PT Wijaya Karya                                                                                                                                                PT Wijaya Karya
                    (Persero) Tbk                                Pefindo         idCCC                  idA                 39.496              40.207                           (Persero) Tbk
                PT Mayora Indah Tbk                              Pefindo           idAA               idAA                  38.114              88.113                   PT Mayora Indah Tbk

          *)     Informasi peringkat obligasi diperoleh dari Bloomberg yang mencakup                           *)     Information on rating of bonds were obtained from Bloomberg, which is
                 peringkat yang diberikan oleh lembaga pemeringkat seperti Pemeringkat                                based on ratings issued by the rating agencies, such as Pemeringkat Efek
                 Efek Indonesia (Pefindo), Standard and Poor’s, Moody’s dan Fitch                                     Indonesia (Pefindo), Standard and Poor’s, Moody’s and Fitch Ratings.
                 Ratings.
          **)    Tidak memiliki peringkat.                                                                     **)    No rating.
          ***)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                         ***)   Investments in unit-link contracts are investments owned by policyholder
                 polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                               of unit link contracts of Subsidiary which are presented at fair value that is
                 wajar yang tidak diperingkat.                                                                        not rated.




                                                                                                   162                                                               ANNUAL REPORT 2023                1229
Page 723
            MAIN                                   MANAGEMENT                                       COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                          PROFILE                                             ANALYSIS

                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                         (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                                   7.      MARKETABLE SECURITIES (continued)

                 e.   Rincian obligasi berdasarkan peringkat (lanjutan):                                        e.       Details of bonds by rating (continued):
                                                                                                                                Nilai wajar/biaya perolehan/
                                                                                                                               biaya perolehan diamortisasi/
                                                                                                                                      Fair value/at cost/
                                                                                Peringkat*)/Rating*)                                  at amortised cost

                                                                      Lembaga
                                                                    pemeringkat/
                                                                       Rating
                                                                      agencies            2023               2022                 2023              2022

                      Rupiah (lanjutan)                                                                                                                                               Rupiah (continued)
                      Diukur pada nilai wajar                                                                                                                                         Fair value through
                         melalui penghasilan                                                                                                                                     other comprehensive
                         komprehensif lain (lanjutan)                                                                                                                               income (continued)
                      Efek-efek (lanjutan)                                                                                                                              Marketable securities (continued)
                         Obligasi (lanjutan)                                                                                                                                          Bonds (continued)
                            PT Maybank Indonesia                                                                                                                               PT Maybank Indonesia
                                Finance                                Fitch Ratings     AAA(idn)        AA+ (idn)                   35.222            36.597                                Finance
                            PT Indonesia Infrastructure Finance              Pefindo       idAAA                 -                   16.008                 -      PT Indonesia Infrastructure Finance
                            PT Bank Pan Indonesia Tbk                        Pefindo            -            idAA                         -           200.924             PT Bank Pan Indonesia Tbk
                            Lain-lain (masing-masing                                                                                                                               Others (each below
                                di bawah Rp10.000)                        Beragam                   -        Beragam                        -           5.008                              Rp10,000)

                            Obligasi syariah perusahaan                                                                                                                        Sharia corporate bonds
                               PT Samudera Indonesia Tbk                     Pefindo         idA+                    -              100.908                    -          PT Samudera Indonesia Tbk
                               PT CIMB Niaga Auto Finance              Fitch Ratings       AA(idn)                   -               19.981                    -         PT CIMB Niaga Auto Finance

                                                                                                                                  3.164.153         3.909.625

                      Diukur pada biaya perolehan
                         diamortisasi                                                                                                                                                 At amortised cost
                      Efek-efek                                                                                                                                                    Marketable securities
                         Obligasi                                                                                                                                                                Bonds
                            PT Pelabuhan Indonesia IV                       Pefindo         idAAA              idAAA                695.000           695.000            PT Pelabuhan Indonesia IV
                            PT Hutama Karya                                                                                                                                        PT Hutama Karya
                                (Persero) Tbk                               Pefindo     idAAA(gg)        idAAA(gg)                  580.018           580.024                           (Persero) Tbk
                            PT Chandra Asri                                                                                                                                          PT Chandra Asri
                                Petrochemical Tbk                           Pefindo          idAA-              idAA-               482.000           624.170                      Petrochemical Tbk
                            PT Perusahaan Listrik                                                                                                                             PT Perusahaan Listrik
                                 Negara (Persero)                           Pefindo         idAAA              idAAA                260.000           460.000                     Negara (Persero)
                            PT Perusahaan Pengelola                                                                                                                        PT Perusahaan Pengelola
                                Aset                                        Pefindo           idAA              idAA                230.000           230.000                                   Aset
                            PT Pegadaian                                    Pefindo         idAAA                  -                150.000                 -                          PT Pegadaian
                            PT Semen Indonesia                                                                                                                                  PT Semen Indonesia
                                 (Persero) Tbk                              Pefindo         idAA+              idAA+                 75.000            75.000                           (Persero) Tbk
                            PT Pembangunan Perumahan                                                                                                                   PT Pembangunan Perumahan
                                (Persero) Tbk                               Pefindo              idA              idA                63.000            63.000                           (Persero) Tbk
                            PT Sarana Multigriya Finansial                                                                                                            PT Sarana Multigriya Finansial
                                (Persero)                                   Pefindo         idAAA              idAAA                 50.000            20.000                              (Persero)
                            PT Bank Tabungan Negara                                                                                                                      PT Bank Tabungan Negara
                                (Perero) Tbk                           Fitch Ratings     AA+(idn)             AA(idn)                49.000            49.000                          (Perero) Tbk
                            PT Federal International Finance                 Pefindo       idAAA                    -                33.000                 -        PT Federal International Finance
                            PT Indah Kiat Pulp &                                                                                                                                PT Indah Kiat Pulp &
                                Paper Tbk                                    Pefindo          idA+               idA+                30.000            30.000                             Paper Tbk
                            PT BFI Finance Indonesia                    Fitch Rating         idAA-                  -                30.000                 -              PT BFI Finance Indonesia
                            PT Astra Sedaya Finance                          Pefindo        idAAA              idAAA                 25.000            25.000              PT Astra Sedaya Finance
                            PT Bank Negara Indonesia                                                                                                                      PT Bank Negara Indonesia
                                (Persero) Tbk                               Pefindo         idAAA              idAAA                 13.000            13.000                         (Persero) Tbk
                            PT Pupuk Indonesia                                                                                                                                   PT Pupuk Indonesia
                                (Persero)                              Fitch Ratings                -        AAA(idn)                       -         500.000                                (Persero)
                            PT Jakarta Lingkar Baratsatu                     Pefindo                -          idAA-                        -         160.000           PT Jakarta Lingkar Baratsatu
                            PT Dharma Satya                                                                                                                                        PT Dharma Satya
                                Nusantara Tbk                               Pefindo                 -             idA                       -         150.000                        Nusantara Tbk
                            PT Angkasa Pura II (Persero)                    Pefindo                 -          idAA+                        -         140.000           PT Angkasa Pura II (Persero)
                            PT Industri Kereta Api                                                                                                                             PT Industri Kereta Api
                                (Persero)                                   Pefindo                 -         idBBB+                        -         101.106                              (Persero)
                            PT Bank Rakyat Indonesia                                                                                                                      PT Bank Rakyat Indonesia
                                (Persero) Tbk                               Pefindo                 -          idAAA                        -          90.000                           (Persero) Tbk
                            Surat Perbendaharaan                                                                                                                              Surat Perbendaharaan
                                Negara**)                                          -                -                -                      -          19.498                              Negara**)
                            Lain-lain (masing-masing Lain-lain                                                                                                                    Others (each below
                                di bawah Rp10.000)                        Beragam        Beragam             Beragam                   8.000            6.000                             Rp10,000)

                            Efek beragun aset                                                                                                                                   Asset-backed security
                               PT Sarana Multigriya Finansial                                                                                                          PT Sarana Multigriya Finansial
                                  (Persero)                                 Pefindo      idAAA(sf)             idAAA                 68.874           102.732                             (Persero)

                                                                                                                                  2.841.892         4.133.530


                      *)    Informasi peringkat obligasi diperoleh dari Bloomberg yang mencakup                          *)    Information on rating of bonds were obtained from Bloomberg, which is
                            peringkat yang diberikan oleh lembaga pemeringkat seperti Pemeringkat                              based on ratings issued by the rating agencies, such as Pemeringkat Efek
                            Efek Indonesia (Pefindo), Standard and Poor’s, Moody’s dan Fitch                                   Indonesia (Pefindo), Standard and Poor’s, Moody’s and Fitch Ratings.
                            Ratings.
                      **)   Tidak memiliki peringkat.                                                                    **)   No rating.




1230 PT Bank Mandiri (Persero) Tbk                                                                           163
Page 724
     CORPORATE                               ESG COMMITMENTS                                       SOCIAL AND ENVIRONMENTAL                                            LAPORAN
                                                                                                                                                                         Financial
     GOVERNANCE                              & PRACTICES                                           RESPONSIBILITY                                                      KEUANGAN   2023
                                                                                                                                                                         Statements 2023

                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                               (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                                         7.      MARKETABLE SECURITIES (continued)
     e.   Rincian obligasi berdasarkan peringkat (lanjutan):                                              e.       Details of bonds by rating (continued):
                                                                                                                           Nilai wajar/biaya perolehan/
                                                                                                                          biaya perolehan diamortisasi/
                                                                                                                                 Fair value/at cost/
                                                                      Peringkat*)/Rating*)                                       at amortised cost

                                                            Lembaga
                                                          pemeringkat/
                                                             Rating
                                                            agencies            2023                   2022                  2023                2022

          Rupiah (lanjutan)                                                                                                                                                        Rupiah (continued)
          Diukur pada biaya
             perolehan***)                                                                                                                                                                At cost***)
          Efek-efek                                                                                                                                                            Marketable securities
             Obligasi syariah perusahaan                                                                                                                                   Sharia corporate bonds
                PT Indosat Tbk                                    Pefindo        idAAA                   idAAA                 213.800             213.800                       PT Indosat Tbk
                PT XL Axiata Tbk                            Fitch Ratings      AAA(idn)                AAA(idn)                195.000             195.000                     PT XL Axiata Tbk
                PT Medco Power Indonesia                          Pefindo           idA                     idA                150.000             150.000            PT Medco Power Indonesia
                PT Wijaya Karya                                                                                                                                                 PT Wijaya Karya
                    (Persero) Tbk                                 Pefindo         idCCC                     idA                 99.000              99.000                       (Persero) Tbk
                PT Global Mediacom Tbk                            Pefindo           idA+                  idA+                  50.000              50.000              PT Global Mediacom Tbk
                PT CIMB Niaga Auto Finance                  Fitch Ratings        AA(idn)                       -                45.000                   -           PT CIMB Niaga Auto Finance
                PT BPD Kalimantan Selatan                   Fitch Ratings          A(idn)                A(idn)                 35.000              35.000            PT BPD Kalimantan Selatan

                                                                                                                               787.800             742.800

                 Total                                                                                                       9.977.823           9.217.691                                        Total



          Mata uang asing                                                                                                                                                         Foreign currencies
          Diukur pada nilai wajar                                                                                                                                                  Fair value through
             melalui laba rugi                                                                                                                                                         profit or loss
          Efek-efek                                                                                                                                                              Marketable securities
             Obligasi                                                                                                                                                                          Bonds
                PT Sinbad Karya                                                                                                                                                   PT Sinbad Karya
                    Perdagangan**)                                       -                    -                -               113.418              74.575                        Perdagangan**)
                PT Millenio Amerta Data**)                               -                    -                -                26.454                   -               PT Millenio Amerta Data**)
                Lain-lain (masing-masing                                                                                                                                       Others (each below
                    di bawah Rp10.000)                                   -                    -                -                       -             8.657                             Rp10,000)
                                                                                                                               139.872              83.232

          Diukur pada nilai wajar                                                                                                                                                 Fair value through
             melalui penghasilan                                                                                                                                             other comprehensive
             komprehensif lain                                                                                                                                                               income
          Efek-efek                                                                                                                                                             Marketable securities
             Obligasi                                                                                                                                                                          Bonds
                PT Pertamina (Persero)                           Moody‘s           Baa2                   Baa2                 590.108           3.546.179                PT Pertamina (Persero)
                PT Indonesia Asahan                                                                                                                                         PT Indonesia Asahan
                    Aluminium (Persero)                     Fitch Ratings          BBB-                   BBB-                 423.949             429.622                  Aluminium (Persero)
                PT Bank Rakyat Indonesia                                                                                                                                PT Bank Rakyat Indonesia
                    (Persero) Tbk                                Moody‘s           Baa2                   Baa2                 242.663             293.180                          (Persero) Tbk
                PT Bank Tabungan Negara                                                                                                                                PT Bank Tabungan Negara
                    (Persero) Tbk                                Moody‘s            Ba3                    Ba3                 150.121             141.747                          (Persero) Tbk
                PT Indonesia Asahan                                                                                                                                         PT Indonesia Asahan
                    Aluminium (Persero)                             S&P             BBB                   BBB                   83.366              83.786                  Aluminium (Persero)
                PT Saka Energi Indonesia                         Moody‘s             B2                    B2                   76.004              74.071              PT Saka Energi Indonesia
                Medco Platinium Road                                                                                                                                       Medco Platinium Road
                    Pte. Ltd                                     Moody‘s                  -                   B1                       -            66.393                                Pte. Ltd
                PT Bank Rakyat Indonesia                                                                                                                               PT Bank Rakyat Indonesia
                    (Persero) Tbk                           Fitch Ratings           BBB                   BBB-                  61.286             241.368                            (Persero) Tbk
                PT Bank Negara Indonesia                                                                                                                               PT Bank Negara Indonesia
                    (Persero) Tbk                                Moody‘s            Ba3                    Ba3                  47.886              50.970                          (Persero) Tbk
                PT ABM Investama Tbk                        Fitch Ratings            B+                     B+                  36.182              34.456                PT ABM Investama Tbk
                PT Japfa Comfeed                                                                                                                                               PT Japfa Comfeed
                    Indonesia Tbk                           Fitch Ratings           BB-                    BB-                  33.798              34.121                         Indonesia Tbk
                PT Sarana Multi                                                                                                                                                   PT Sarana Multi
                     Infrastruktur (Persero)                     Moody‘s           Baa2                   Baa2                  28.071              27.024                Infrastruktur (Persero)
                PT Indika Energy Tbk                             Moody‘s            Ba3                    Ba3                  23.255              23.457                  PT Indika Energy Tbk
                PT Delta Dunia Makmur Tbk                        Moody‘s            Ba3                    Ba3                  22.063              20.200            PT Delta Dunia Makmur Tbk
                Korea Development Bank                           Moody‘s            Aa2                    Aa2                  14.863              14.783               Korea Development Bank
                LMIRT Capital Pte. Ltd                       Fitch Rating            B-                      -                  10.347                   -                 LMIRT Capital Pte. Ltd
                Lain-lain (masing-masing                                                                                                                                       Others (each below
                    di bawah Rp10.000)                          Beragam        Beragam                 Beragam                  29.098              30.427                              Rp10,000)
                                                                                                                             1.873.060           5.111.784

          Diukur pada biaya perolehan
             diamortisasi                                                                                                                                                         At amortised cost
          Efek-efek                                                                                                                                                             Marketable securities
             Obligasi                                                                                                                                                                        Bonds
                PT Indonesia Asahan                                                                                                                                         PT Indonesia Asahan
                    Aluminium (Persero)                          Moodys            Baa3                   BBB                  226.328             157.778                   Aluminium (Persero)
                PT Indonesia Asahan                                                                                                                                         PT Indonesia Asahan
                    Aluminium (Persero)                     Fitch Ratings          BBB-                      -                 155.156                   -                  Aluminium (Persero)
                PT Pelabuhan Indonesia IV                        Moody‘s           Baa3                   Baa3                 154.718             157.012             PT Pelabuhan Indonesia IV
                PT Indonesia Infrastructure                                                                                                                            PT Indonesia Infrastructure
                    Finance                                      Moody‘s           Baa3                   Baa3                  84.706              41.239                              Finance
                PT Perusahaan Gas                                                                                                                                             PT Perusahaan Gas
                    Negara Tbk                                   Moody‘s            Ba2                    Ba2                  77.669              80.534                          Negara Tbk
          *)     Informasi peringkat obligasi diperoleh dari Bloomberg yang mencakup                               *)     Information on rating of bonds were obtained from Bloomberg, which is
                 peringkat yang diberikan oleh lembaga pemeringkat seperti Pemeringkat                                    based on ratings issued by the rating agencies, such as Pemeringkat Efek
                 Efek Indonesia (Pefindo), Standard and Poor’s, Moody’s dan Fitch                                         Indonesia (Pefindo), Standard and Poor’s, Moody’s and Fitch Ratings.
                 Ratings.
          **)    Tidak memiliki peringkat.                                                                         **)    No rating.
          ***)   Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                             ***)   Investments in unit-link contracts are investments owned by policyholder
                 polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                                   of unit link contracts of Subsidiary which are presented at fair value that is
                 wajar yang tidak diperingkat.                                                                            not rated.


                                                                                                       164                                                               ANNUAL REPORT 2023                1231
Page 725
            MAIN                                 MANAGEMENT                                        COMPANY                                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                           PROFILE                                               ANALYSIS

                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                        (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                                  7.     MARKETABLE SECURITIES (continued)

                 e.   Rincian obligasi berdasarkan peringkat (lanjutan):                                      e.        Details of bonds by rating (continued):

                                                                                                                              Nilai wajar/biaya perolehan/
                                                                                                                             biaya perolehan diamortisasi/
                                                                                                                                    Fair value/at cost/
                                                                               Peringkat*)/Rating*)                                 at amortised cost

                                                                     Lembaga
                                                                   pemeringkat/
                                                                      Rating
                                                                     agencies            2023               2022                2023                2022


                      Mata uang asing (lanjutan)                                                                                                                          Foreign currencies(continued)
                      Diukur pada biaya perolehan
                         Diamortisasi (lanjutan)                                                                                                                         At amortised cost (continued)
                      Efek-efek (lanjutan)                                                                                                                              Marketable securities (continued)
                         Obligasi (lanjutan)                                                                                                                                        Bonds (continued)
                            Medco Oak Tree Pte Ltd                        Moody‘s               B1                 B1              77.413              77.993               Medco Oak Tree Pte Ltd
                            PT Perusahaan Listrik                                                                                                                              PT Perusahaan Listrik
                                Negara (Persero)                          Moody‘s           Baa2              Baa2                 77.308              78.252                     Negara (Persero)
                            PT Bank Negara Indonesia                                                                                                                      PT Bank Negara Indonesia
                                (Persero) Tbk                             Moody‘s            Ba2               Ba3                 33.984              34.554                        (Persero) Tbk
                            PT Perusahaan Listrik                                                                                                                              PT Perusahaan Listrik
                                Negara (Persero)                          Moody‘s           Baa3              Baa3                 29.888              29.941                     Negara (Persero)
                            PT Pertamina (Persero)                        Moody‘s           Baa2              Baa2                 29.204              28.810                PT Pertamina (Persero)
                            PT Bank Rakyat Indonesia                                                                                                                      PT Bank Rakyat Indonesia
                                (Persero) Tbk                             Moody‘s           Baa2              Baa2                 15.414              15.668                        (Persero) Tbk
                            PT Indonesia Asahan                                                                                                                                PT Indonesia Asahan
                                Aluminium (Persero)                           S&P                  -          BBB                         -           231.022                  Aluminium (Persero)

                                                                                                                                  961.788             932.803

                      Total                                                                                                     2.974.720           6.127.819                                      Total


                      *)   Informasi peringkat obligasi diperoleh dari Bloomberg yang mencakup                          *)   Information on rating of bonds were obtained from Bloomberg, which is
                           peringkat yang diberikan oleh lembaga pemeringkat seperti Pemeringkat                             based on ratings issued by the rating agencies, such as Pemeringkat Efek
                           Efek Indonesia (Pefindo), Standard and Poor’s, Moody’s dan Fitch                                  Indonesia (Pefindo), Standard and Poor’s, Moody’s and Fitch Ratings.
                           Ratings.


                 f.   Tingkat suku bunga rata-rata (yield) per tahun:                                         f.        Average interest rate (yield) per annum:

                                                                                      2023                                   2022

                      Rupiah                                                                  6,33%                                  5,35%                                      Rupiah
                      Mata uang asing (disetarakan                                                                                                     Foreign currencies (equivalent to
                          dalam Rupiah)                                                       3,84%                                  2,99%                                  Rupiah)

                 g.   Mutasi cadangan kerugian penurunan nilai efek-                                          g.        Movements of allowance for impairment losses on
                      efek:                                                                                             marketable securities:

                      Mutasi cadangan kerugian penurunan nilai efek-                                                    Movements of allowance for impairment losses on
                      efek yang diukur pada biaya perolehan                                                             marketable securities measured at amortized cost
                      diamortisasi dan biaya perolehan:                                                                 and acquisition cost:

                                                                                      2023                                   2022


                      Saldo awal tahun                                                       41.191                                 99.504                                   Beginning balance
                      Pembentukan/(pembalikan)                                                                                                                             Allowance/(reversal)
                          selama tahun berjalan                                                                                                                               during the year
                          (Catatan 46)                                                     111.547                                (22.775)                                          (Note 46)
                      Lain-lain*)                                                           (2.463)                               (35.538)                                              Others*)

                      Saldo akhir tahun                                                    150.275                                  41.191                                      Ending balance

                      *)   Termasuk selisih kurs karena penjabaran mata uang asing.                                     *)   Included effect of foreign currency translation.




1232 PT Bank Mandiri (Persero) Tbk                                                                          165
Page 726
     CORPORATE                                ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                                            LAPORAN
                                                                                                                                                               Financial
     GOVERNANCE                               & PRACTICES                                RESPONSIBILITY                                                      KEUANGAN   2023
                                                                                                                                                               Statements 2023

                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                                               7.     MARKETABLE SECURITIES (continued)

     g.   Mutasi cadangan kerugian penurunan nilai efek-                                       g.      Movements of allowance for impairment losses on
          efek (lanjutan):                                                                             marketable securities(continued):

          Mutasi cadangan kerugian penurunan nilai efek-                                               Movements of allowance for impairment losses on
          efek yang diukur pada biaya perolehan                                                        marketable securities measured at amortized cost
          diamortisasi dan biaya perolehan (lanjutan):                                                 and acquisition cost (continued):

                                                                                               2023
                                                                                                                       Syariah*)/
                                                    Stage 1             Stage 2              Stage 3                    Sharia*)                 Total


          Saldo awal tahun                               22.249                1.465                         -                17.477                  41.191           Beginning balance

          Pengukuran kembali bersih                                                                                                                                 Net remeasurement of
            penyisihan kerugian                          (1.915)              (1.469)                        8               114.972                111.596           losses allowance
          Aset keuangan baru yang                                                                                                                                    New financial assets
            diterbitkan atau                                                                                                                                               originated or
            dibeli                                         1.732                    -                        -                        -                1.732                 purchased
          Aset keuangan yang                                                                                                                                               Financial asset
            dihentikan pengakuannya                      (1.781)                    -                        -                        -              (1.781)              derecognised

          Total pembentukan/                                                                                                                                             Total allowance/
             (pembalikan)                                                                                                                                                    (reversal)
             tahun berjalan                              (1.964)              (1.469)                        8               114.972                111.547             during the year
          Lain-lain**)                                   (2.463)                    -                        -                     -                 (2.463)                      Others**)

          Saldo akhir tahun                              17.822                   (4)                        8               132.449                150.275              Ending balance


          *)     Tidak menerapkan PSAK 71.                                                             *)        Not implement SFAS 71
          **)    Termasuk selisih kurs karena penjabaran mata uang asing.                              **)       Included effect of foreign currency translation.

                                                                                               2022
                                                                                                                       Syariah*)/
                                                    Stage 1             Stage 2              Stage 3                    Sharia*)                 Total


          Saldo awal tahun                               53.908               27.406                   115                    18.075                  99.504           Beginning balance

          Pengukuran kembali bersih                                                                                                                                 Net remeasurement of
            penyisihan kerugian                          17.085               (6.782)               (115)                        (598)                 9.590          losses allowance
          Aset keuangan baru yang                                                                                                                                    New financial assets
            diterbitkan atau                                                                                                                                               originated or
            dibeli                                         3.031              16.811                         -                        -               19.842                 purchased
          Aset keuangan yang                                                                                                                                               Financial asset
            dihentikan pengakuannya                     (16.237)             (35.970)                        -                        -             (52.207)              derecognised

          Total pembentukan/                                                                                                                                   Total allowance/ (reversal)
             (pembalikan) tahun berjalan                   3.879             (25.941)               (115)                       (598)               (22.775)          during the year
          Lain-lain**)                                  (35.538)                    -                   -                           -               (35.538)                    Others**)

          Saldo akhir tahun                              22.249                1.465                         -                17.477                  41.191             Ending balance


          *)    Tidak menerapkan PSAK 71.                                                              *)        Not implement SFAS 71
          **)     Termasuk selisih kurs karena penjabaran mata uang asing.                             **)       Included effect of foreign currency translation.




                                                                                             166                                                               ANNUAL REPORT 2023             1233
Page 727
            MAIN                                  MANAGEMENT                                      COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                            REPORTS                                         PROFILE                                             ANALYSIS

                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


            7.   EFEK-EFEK (lanjutan)                                                              7.     MARKETABLE SECURITIES (continued)

                 g.   Mutasi cadangan kerugian penurunan nilai efek-                                      g.      Movements of allowance for impairment losses on
                      efek (lanjutan):                                                                            marketable securities (continued):

                      Mutasi cadangan kerugian penurunan nilai efek-                                              Movements of allowance for impairment losses on
                      efek yang diukur pada nilai wajar melalui                                                   marketable securities measured at fair value
                      penghasilan komprehensif lain:                                                              through other comprehensive income:
                                                                                       2023                             2022

                      Saldo awal tahun                                                        9.230                               13.354                                  Beginning balance
                      Pembentukan/(pembalikan)                                                                                                                          Allowance/(reversal)
                          selama tahun berjalan                                                                                                                          during the year
                          (Catatan 46)                                                      21.081                               (4.124)                                       (Note 46)
                      Lain-lain*)                                                                -                                     -                                             Others*)

                      Saldo akhir tahun                                                     30.311                                  9.230                                       Ending balance

                      *)    Termasuk selisih kurs karena penjabaran mata uang asing.                              *)    Included effect of foreign currency translation.

                                                                                                          2023
                                                                                                                                  Syariah*)/
                                                               Stage 1            Stage 2               Stage 3                    Sharia*)                 Total

                      Saldo awal tahun                               9.230                    -                         -                        -                9.230           Beginning balance
                      Pengukuran kembali bersih                                                                                                                                Net remeasurement of
                        penyisihan kerugian                        (2.525)                    -             24.311                               -               21.786          losses allowance
                      Aset keuangan baru yang                                                                                                                                   New financial assets
                        diterbitkan atau                                                                                                                                              originated or
                        dibeli                                            -                   -                         -                        -                      -               purchased
                      Aset keuangan yang                                                                                                                                              Financial asset
                        dihentikan pengakuannya                      (705)                    -                         -                        -                  (705)            derecognised


                      Total pembentukan/                                                                                                                                            Total allowance/
                         (pembalikan)                                                                                                                                                   (reversal)
                         tahun berjalan                            (3.230)                    -             24.311                               -               21.081            during the year
                      Lain-lain**)                                       -                    -                  -                               -                    -                      Others**)

                      Saldo akhir tahun                              6.000                    -             24.311                               -               30.311             Ending balance

                      *)    Tidak menerapkan PSAK 71.                                                             *)        Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)       Included effect of foreign currency translation.

                                                                                                          2022
                                                                                                                                  Syariah*)/
                                                               Stage 1            Stage 2               Stage 3                    Sharia*)                 Total

                      Saldo awal tahun                              13.354                    -                         -                        -               13.354           Beginning balance
                      Pengukuran kembali bersih                                                                                                                                Net remeasurement of
                        penyisihan kerugian                        (4.056)                    -                         -                        -              (4.056)          losses allowance
                      Aset keuangan baru yang                                                                                                                                   New financial assets
                        diterbitkan atau                                                                                                                                              originated or
                        dibeli                                       1.146                    -                         -                        -                1.146                 purchased
                      Aset keuangan yang                                                                                                                                              Financial asset
                        dihentikan pengakuannya                    (1.214)                    -                         -                        -              (1.214)              derecognised

                      Total pembalikan                                                                                                                                                 Total reversal
                         tahun berjalan                            (4.124)                    -                         -                        -              (4.124)            during the year
                      Lain-lain**)                                       -                    -                         -                        -                    -                      Others**)

                      Saldo akhir tahun                              9.230                    -                         -                        -                9.230             Ending balance

                      *)    Tidak menerapkan PSAK 71.                                                             *)        Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)       Included effect of foreign currency translation.


                      Manajemen      berpendapat bahwa     jumlah                                                 Management believes that the allowance for
                      cadangan kerugian penurunan nilai efek-efek                                                 impairment losses on marketable securities is
                      telah memadai.                                                                              adequate.




1234 PT Bank Mandiri (Persero) Tbk                                                                      167
Page 728
      CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
      GOVERNANCE                & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023

                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


7.   EFEK-EFEK (lanjutan)                                       7.     MARKETABLE SECURITIES (continued)

     h.   Informasi mengenai pengelompokan berdasarkan                 h.   Information in respect of classification of
          kelompok “tidak mengalami penurunan nilai” dan                    “non-impaired” and “impaired” is disclosed in Note
          “mengalami penurunan nilai” diungkapkan pada                      62A.
          Catatan 62A.

     i.   Investasi dalam unit reksadana pada Bank                     i.   Investment in mutual fund of the Bank measured at
          Mandiri saja yang diklasifikasikan sebagai diukur                 fair value through other comprehensive income on
          pada     nilai  wajar      melalui   penghasilan                  31 December 2023 and 2022:
          komprehensif lain pada tanggal 31 Desember
          2023 dan 2022:

                                                     2023                     2022

          Reksa Dana Terproteksi Syailendra                                                  Protected Mutual Fund Syailendra
            Capital Protected Fund 45                  1.443.842                1.440.607          Capital Protected Fund 45
          Reksa Dana Terproteksi Manulife                                                      Protected Mutual Fund Manulife
            Proteksi Dana Utama III                    1.314.820                1.310.426            Proteksi Dana Utama III
          Reksa Dana Terproteksi Syailendra                                                  Protected Mutual Fund Syailendra
            Capital Protected Fund 53                  1.022.063                1.017.901          Capital Protected Fund 53
          Reksa Dana Terproteksi Syailendra                                                  Protected Mutual Fund Syailendra
            Capital Protected Fund 52                  1.020.817                1.019.454          Capital Protected Fund 52
          Reksa Dana Terproteksi BNI AM                                                         Protected Mutual Fund BNI AM
            Proteksi Orchid                            1.011.260                1.007.620                     Proteksi Orchid
          Reksa Dana Terproteksi BNI AM                                                         Protected Mutual Fund BNI AM
            Proteksi Sunflower                         1.009.474                1.009.308                  Proteksi Sunflower
          Reksa Dana Trimegah Terproteksi 21           1.004.005                1.004.287 Protected Mutual Fund Trimegah 21
          Reksa Dana Terproteksi Panin 17                993.148                  993.279      Protected Mutual Fund Panin 17
          Reksa Dana Terproteksi BNP Paribas                                               Protected Mutual Fund BNP Paribas
            Selaras VI                                     991.745                991.874                          Selaras VI
          Reksa Dana Trimegah Terproteksi 24               910.894                908.311 Protected Mutual Fund Trimegah 24
          Reksa Dana Terproteksi BNI AM                                                         Protected Mutual Fund BNI AM
            Proteksi Rasamala                              762.945                760.055                 Proteksi Rasamala
          Reksa Dana Trimegah Terproteksi 26               761.277                757.075 Protected Mutual Fund Trimegah 26
          Reksa Dana Terproteksi Manulife                                                      Protected Mutual Fund Manulife
            Proteksi Dana Utama II                         761.243                759.345             Proteksi Dana Utama II
          Reksa Dana Terproteksi BNI AM                                                         Protected Mutual Fund BNI AM
            Proteksi Magnifera                             758.572                756.333                  Proteksi Magnifera
          Reksa Dana Danareksa Proteksi 81                 758.318                756.623 Protected Mutual Fund Danareksa 81
          Reksa Dana Terproteksi Syailendra                                                  Protected Mutual Fund Syailendra
            Capital Protected Fund 46                      755.171                754.502          Capital Protected Fund 46
          Reksa Dana Danareksa                                                                          Protected Mutual Fund
            Proteksi 79                                    710.878                710.570             Danareksa Proteksi 79
          Reksa Dana Terproteksi Panin 26                  603.447                603.243      Protected Mutual Fund Panin 26
          Reksa Dana Terproteksi BMI                                                                Protected Mutual Fund BMI
            Indo Proteksi Sinergi 1                        501.931                502.067             Indo Proteksi Sinergi 1
          Reksa Dana Terproteksi BNP                                                               Protected Mutual Fund BNP
            Paribas Selaras V                              501.059                501.138                  Paribas Selaras V
          Reksa Dana Terproteksi Bahana                                                         Protected Mutual Fund Bahana
            Centrum Protected Fund 221                     497.771                496.576       Centrum Protected Fund 221
          Reksa Dana Terproteksi Bahana                                                         Protected Mutual Fund Bahana
            Centrum Protected Fund 222                     494.800                493.521       Centrum Protected Fund 222
          Reksa Dana Trimegah                                                                           Protected Mutual Fund
            Terproteksi XI                                       -                490.047                        Trimegah XI

                                                      18.589.480              19.044.162

     j.   Pada tanggal-tanggal 31 Desember 2023 dan                    j.   As of 31 December 2023 and 2022, securities with
          2022, saldo efek-efek yang dijual dengan janji                    total amount of USD62,220,523 (full amount) and
          untuk dibeli kembali masing-masing sebesar                        USD55,226,340 (full amount), respectively were
          USD62.220.523 dan USD55.226.340 (nilai                            sold under repurchase agreements (Note 28).
          penuh) (Catatan 28).




                                                                     168                                    ANNUAL REPORT 2023    1235
Page 729
            MAIN                                      MANAGEMENT                                        COMPANY                                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                REPORTS                                           PROFILE                                       ANALYSIS

                                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                          (Expressed in millions of Rupiah, unless otherwise stated)


            8.   OBLIGASI PEMERINTAH                                                                     8.     GOVERNMENT BONDS
                 Akun ini terdiri dari obligasi yang dikeluarkan oleh                                           This account consists of bonds issued by Government
                 Pemerintah Republik Indonesia yang diperoleh Grup                                              of the Republic of Indonesia which are obtained by the
                 dari pasar primer dan sekunder pada tanggal                                                    Group from primary and secondary markets as of
                 31 Desember 2023 dan 2022 dengan rincian sebagai                                               31 December 2023 and 2022, with details as follows:
                 berikut:

                                                                                             2023                           2022

                 Pihak berelasi (Catatan 56)                                                                                                                       Related party (Note 56)
                 Obligasi Pemerintah                                                                                                                                   Government bonds
                     Diukur pada biaya perolehan
                          diamortisasi                                                     163.194.756                     180.578.053                                At amortised cost
                     Diukur pada nilai wajar melalui                                                                                                                 Fair value through
                          penghasilan                                                                                                                           other comprehensive
                          komprehensif lain ***)                                             90.640.924                     92.532.086                                      income***)
                     Diukur pada biaya perolehan*)                                           34.541.812                     44.213.180                                           At cost*)
                     Diukur pada nilai wajar                                                                                                                         Fair value through
                          melalui laba rugi                                                  12.078.509                      6.972.279                                   profit or loss
                 Investasi pada unit-link **)                                                                                                    Investments in unit-link contracts **)
                     Diukur pada nilai wajar                                                                                                                   Fair value through
                          melalui laba rugi                                                    8.726.970                     4.916.166                             profit or loss
                                                                                           309.182.971                     329.211.764

                 *)     Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                         *)      Government bonds owned by Subsidiary are classified based on SFAS
                        sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                            No. 110 “Accounting for Sukuk”.
                 **)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang polis                  **)     Investments in unit-link contracts are investments owned by
                        pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai wajar.                              policyholders of unit-link contracts of Subsidiary which are presented at
                                                                                                                             fair value.
                 ***)   Termasuk sukuk, project based sukuk dan sukuk ritel yang diklasifikasikan                    ***)    Including sukuk, project-based sukuk and retail bonds which are
                        sebagai diukur pada nilai wajar melalui penghasilan komprehensif lain.                               classified as at fair value through other comprehensive income.

                 a.     Berdasarkan jatuh tempo                                                                 a.   By maturity
                        Obligasi Pemerintah berdasarkan sisa umur jatuh                                              The government bonds, by remaining period of
                        temponya adalah sebagai berikut:                                                             maturity, are as follows:

                                                                                             2023                           2022

                        Rupiah                                                                                                                                                      Rupiah
                        Diukur pada nilai wajar                                                                                                                        Fair value through
                            melalui laba rugi                                                                                                                              profit or loss
                            Obligasi Pemerintah                                                                                                                       Government bonds
                                Kurang dari 1 tahun                                            2.296.373                     2.403.912                                Less than 1 year
                                1 - 5 tahun                                                    3.865.009                     2.704.883                                      1 - 5 years
                                5 - 10 tahun                                                   3.452.661                     1.672.415                                    5 - 10 years
                                Lebih dari 10 tahun                                            2.326.789                       174.954                                  Over 10 years
                                                                                             11.940.832                      6.956.164

                                Investasi pada unit-link **)                                                                                                  Investments in unit-link**)
                                    Kurang dari 1 tahun                                          171.717                       142.890                             Less than 1 year
                                    1 - 5 tahun                                                1.507.762                     2.235.398                                   1 - 5 years
                                    5 - 10 tahun                                               4.389.123                     2.210.076                                 5 - 10 years
                                    Lebih dari 10 tahun                                        2.616.743                       327.802                               Over 10 years
                                                                                               8.685.345                     4.916.166
                                                                                             20.626.177                     11.872.330
                        *)     Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                  *)      Government bonds owned by Subsidiary are classified based on SFAS
                               sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                     No. 110 “Accounting for Sukuk”.
                        **)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                 **)     Investments in unit-link contracts are investments owned by
                               polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                        policyholders of Subsidiary’s unit-link contracts which are presented at
                               wajar.                                                                                        fair value.
                        ***)   Termasuk sukuk, project based sukuk dan sukuk ritel yang                              ***)    Including sukuk, project based sukuk and retail bonds which are
                               diklasifikasikan sebagai diukur pada nilai wajar melalui penghasilan                          classified as at fair value through other comprehensive income.
                               komprehensif lain.




1236 PT Bank Mandiri (Persero) Tbk                                                                            169
Page 730
     CORPORATE                                ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                      LAPORAN
                                                                                                                                                          Financial
     GOVERNANCE                               & PRACTICES                                 RESPONSIBILITY                                                KEUANGAN   2023
                                                                                                                                                          Statements 2023

                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                       (Expressed in millions of Rupiah, unless otherwise stated)


8.   OBLIGASI PEMERINTAH (lanjutan)                                                       8.     GOVERNMENT BONDS (continued)

     a.   Berdasarkan jatuh tempo (lanjutan)                                                     a.   By maturity (continued)

          Obligasi Pemerintah berdasarkan sisa umur jatuh                                             The government bonds, by remaining period of
          temponya adalah sebagai berikut (lanjutan):                                                 maturity, are as follows (continued):

                                                                               2023                          2022

          Rupiah (lanjutan)                                                                                                                           Rupiah (continued)
          Diukur pada nilai wajar melalui                                                                                                            Fair value through
              penghasilan                                                                                                                        other comprehensive
              komprehensif lain ***)                                                                                                                          income***)
              Obligasi Pemerintah                                                                                                                   Government bonds
                  Kurang dari 1 tahun                                           8.640.353                     2.214.055                             Less than 1 year
                  1 - 5 tahun                                                  10.414.314                    17.502.539                                   1 - 5 years
                  5 - 10 tahun                                                 37.604.603                    37.341.218                                  5 - 10 years
                  Lebih dari 10 tahun                                           6.642.427                     5.588.365                                Over 10 years

                                                                               63.301.697                    62.646.177


          Diukur pada biaya perolehan
              diamortisasi                                                                                                                               At amortised cost
              Obligasi Pemerintah                                                                                                                      Government bonds
                  Kurang dari 1 tahun                                           9.217.068                    15.890.558                                Less than 1 year
                  1 - 5 tahun                                                  46.208.011                    52.132.872                                      1 - 5 years
                  5 - 10 tahun                                                 39.682.824                    43.313.092                                    5 - 10 years
                  Lebih dari 10 tahun                                          43.266.753                    43.501.330                                  Over 10 years

                                                                             138.374.656                    154.837.852


          Diukur pada biaya perolehan*)                                                                                                                             At cost*)
              Obligasi Pemerintah                                                                                                                      Government bonds
                  Kurang dari 1 tahun                                          11.930.564                    11.130.042                                Less than 1 year
                  1 - 5 tahun                                                  19.977.300                    27.845.450                                      1 - 5 years
                  5 - 10 tahun                                                  1.217.887                     3.775.555                                    5 - 10 years
                  Lebih dari 10 tahun                                             966.921                       966.330                                  Over 10 years

                                                                               34.092.672                    43.717.377

          Total                                                              256.395.202                    273.073.736                                                        Total

          *)     Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                 *)      Government bonds owned by Subsidiary are classified based on SFAS
                 sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                    No. 110 “Accounting for Sukuk”.
          **)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                **)     Investments in unit-link contracts are investments owned by
                 polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                       policyholders of Subsidiary’s unit-link contracts which are presented at
                 wajar.                                                                                       fair value.
          ***)   Termasuk sukuk, project based sukuk dan sukuk ritel yang                             ***)    Including sukuk, project based sukuk and retail bonds which are
                 diklasifikasikan sebagai diukur pada nilai wajar melalui penghasilan                         classified as at fair value through other comprehensive income.
                 komprehensif lain.




                                                                                               170                                                        ANNUAL REPORT 2023             1237
Page 731
            MAIN                                 MANAGEMENT                                       COMPANY                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                          PROFILE                                  ANALYSIS


                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


            8.   OBLIGASI PEMERINTAH (lanjutan)                                                    8.     GOVERNMENT BONDS (continued)

                 a.   Berdasarkan jatuh tempo (lanjutan)                                                  a.   By maturity (continued)

                      Obligasi Pemerintah berdasarkan sisa umur jatuh                                          The government bonds, by remaining period of
                      temponya adalah sebagai berikut (lanjutan):                                              maturity, are as follows (continued):

                                                                                       2023                         2022

                      Mata uang asing                                                                                                                      Foreign currencies
                      Diukur pada nilai wajar melalui                                                                                                      Fair value through
                          laba rugi                                                                                                                            profit or loss
                          Obligasi Pemerintah                                                                                                             Government bonds
                              Kurang dari 1 tahun                                             7.901                           -                           Less than 1 year
                              1 - 5 tahun                                                   123.814                      14.914                                 1 - 5 years
                              5 - 10 tahun                                                    1.607                           -                               5 - 10 years
                              Lebih dari 10 tahun                                             4.355                       1.201                             Over 10 years

                                                                                            137.677                      16.115


                            Investasi pada unit-link **)                                                                                          Investments in unit-link**)
                                1 - 5 tahun                                                   11.432                              -                          1 - 5 years
                                5 - 10 tahun                                                   9.767                              -                        5 - 10 years
                                Lebih dari 10 tahun                                           20.426                              -                      Over 10 years

                                                                                              41.625                              -

                                                                                            179.302                      16.115

                      Diukur pada nilai wajar melalui                                                                                                     Fair value through
                          penghasilan                                                                                                                other comprehensive
                          komprehensif lain                                                                                                                          income
                          Obligasi Pemerintah                                                                                                           Government bonds
                              Kurang dari 1 tahun                                       3.771.298                     2.437.444                         Less than 1 year
                              1 - 5 tahun                                              10.009.244                    11.089.589                                1 - 5 years
                              5 - 10 tahun                                             11.858.513                    14.892.272                              5 - 10 Years
                              Lebih dari 10 tahun                                       1.700.172                     1.466.604                            Over 10 years

                                                                                       27.339.227                    29.885.909


                      Diukur pada biaya perolehan
                          diamortisasi                                                                                                                      At amortised cost
                          Obligasi Pemerintah                                                                                                             Government bonds
                              Kurang dari 1 tahun                                         271.475                       406.571                           Less than 1 year
                              1 - 5 tahun                                               5.363.620                     4.080.521                                 1 - 5 years
                              5 - 10 tahun                                             18.944.752                    20.988.875                               5 - 10 years
                              Lebih dari 10 tahun                                         240.253                       264.234                             Over 10 years

                                                                                       24.820.100                    25.740.201


                      Diukur pada biaya perolehan*)                                                                                                                    At cost *)
                          Obligasi Pemerintah                                                                                                             Government bonds
                              Kurang dari 1 tahun                                           157.283                      35.136                           Less than 1 year
                              1 - 5 tahun                                                   291.857                     460.667                                 1 - 5 years

                                                                                            449.140                     495.803


                      Total (Catatan 62.B.(iv))                                        52.787.769                    56.138.028                          Total (Note 62.B.(iv))

                                                                                     309.182.971                    329.211.764

                      *)   Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                *)    Government bonds owned by Subsidiary are classified based on SFAS
                           sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                 No. 110 “Accounting for Sukuk”.




1238 PT Bank Mandiri (Persero) Tbk                                                                      171
Page 732
     CORPORATE                                 ESG COMMITMENTS                                  SOCIAL AND ENVIRONMENTAL                                     LAPORAN
                                                                                                                                                               Financial
     GOVERNANCE                                & PRACTICES                                      RESPONSIBILITY                                               KEUANGAN   2023
                                                                                                                                                               Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                         (Expressed in millions of Rupiah, unless otherwise stated)


8.   OBLIGASI PEMERINTAH (lanjutan)                                                         8.     GOVERNMENT BONDS (continued)
     b.   Berdasarkan jenis                                                                        b.      By type
                                                                                                 2023

                                                           Nominal/
                                                             biaya          Tingkat
                                                          perolehan/          suku
                                                             biaya           bunga
                                                          perolehan            per                                                Frekuensi
                                                         diamortisasi/       tahun/                                              pembayaran
                                                           Nominal/         Interest                               Tanggal           bunga/
                                                            cost/ at          rates                             jatuh tempo/     Frequency of
                                                          amortised            per        Nilai wajar/             Maturity         interest
                                                             cost            annum        Fair value                dates          payment

          Rupiah                                                                                                                                                                     Rupiah
          Diukur pada nilai wajar                                                                                                                                        Fair value through
             melalui laba rugi                                                                                                                                             profit or loss
          Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                              4,00% -                            15/02/2024 -     1 dan 6 bulan/
          Obligasi suku bunga tetap                          11.654.576       12,00%       11.823.146             15/08/2051     1 and 6 months                              Fixed rate bonds
          Obligasi suku bunga mengambang                        116.437        6,04%          117.686             25/04/2025     3 bulan/months                           Floating rate bonds

                                                             11.771.013                    11.940.832
          Investasi pada unit-link*)                                                                                                                      Investments in unit-link contracts*)
                                                                              4,00% -                            10/03/2024 -     1 dan 6 bulan/
          Obligasi suku bunga tetap                           8.685.345       10,50%         8.685.345            15/08/2051     1 and 6 months                             Fixed rate bonds

          Diukur pada nilai wajar                                                                                                                                       Fair value through
             melalui penghasilan                                                                                                                                  other comprehensive
             komprehensif lain **)                                                                                                                                             income**)
          Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                               4,00% -                           15/02/2024 -     1 dan 6 bulan/
          Obligasi suku bunga tetap                          61.566.538       11,00%       63.301.697             15/06/2047     1 and 6 months                             Fixed rate bonds
          Mata uang asing                                                                                                                                               Foreign currencies
          Diukur pada nilai wajar                                                                                                                                       Fair value through
             melalui laba rugi                                                                                                                                            profit or loss
          Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                3,20% -                   15/01/2024 -
          Obligasi suku bunga tetap                             137.526        5,95%          137.677             23/09/2061     6 bulan/months                             Fixed rate bonds
          Investasi pada unit-link*)                                                                                                                      Investments in unit-link contracts*)
                                                                              3,55% -                            08/01/2026 -     1 dan 6 bulan/
          Obligasi suku bunga tetap                              41.625        8,50%             41.625           11/01/2048     1 and 6 months                             Fixed rate bonds

          Diukur pada nilai wajar                                                                                                                                       Fair value through
             melalui penghasilan                                                                                                                                  other comprehensive
             komprehensif lain                                                                                                                                                  income
          Obligasi Pemerintah                                                                                                                                            Government bonds
          Obligasi suku                                                       1,00% -                            15/01/2024 -
             bunga tetap                                     28.795.401        8,50%       27.339.227             20/09/2052     6 bulan/months                             Fixed rate bonds

          *)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                      *)     Investments in unit-link contracts are investments owned by
                polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                            policyholders of unit-link contracts of Subsidiary which are presented at
                wajar.                                                                                            fair value.
          **)   Termasuk sukuk, project based sukuk dan sukuk ritel yang                                   **)    Including sukuk, project-based sukuk and retail sukuk which are
                diklasifikasikan sebagai diukur pada nilai wajar melalui penghasilan                              classified as at fair value through other comprehensive income.
                komprehensif lain.

                                                                                                 2023

                                                           Nominal/
                                                             biaya
                                                          perolehan/
                                                             biaya
                                                          perolehan                                                               Frekuensi
                                                         diamortisasi/            Tingkat                                        pembayaran
                                                           Nominal/             suku bunga                   Tanggal                 bunga/
                                                            cost/ at             per tahun/               jatuh tempo/           Frequency of
                                                          amortised            Interest rates                Maturity               interest
                                                             cost               per annum                     dates                payment
          Rupiah                                                                                                                                                                      Rupiah
          Diukur pada biaya perolehan
             diamortisasi                                                                                                                                                 At amortised cost
          Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                         4,00% -                 15/02/2024 -      1 dan 6 bulan/
          Obligasi suku bunga tetap                        138.374.656                   12,00%                   15/06/2042     1 and 6 months                             Fixed rate bonds

          Diukur pada biaya perolehan*)                                                                                                                                           At cost*)
          Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                         4,00% -                 10/03/2024 -      1 dan 6 bulan/
          Obligasi suku bunga tetap                          34.092.672                  10,25%                   15/04/2043     1 and 6 months                             Fixed rate bonds

          Mata uang asing                                                                                                                                               Foreign currencies
          Diukur pada biaya perolehan
             diamortisasi                                                                                                                                                 At amortised cost
          Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                         1,50% -                 15/01/2024 -
          Obligasi suku bunga tetap                          24.820.100                   8,50%                   17/02/2037      6 bulan/months                            Fixed rate bonds

                                          *)
          Diukur pada biaya perolehan                                                                                                                                             At cost*)
          Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                         2,30% -                 10/09/2024 -
          Obligasi suku bunga tetap                             449.140                   4,40%                   06/06/2027      6 bulan/months                            Fixed rate bonds
          *)    Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                        *)     Government bonds owned by Subsidiary are classified based on SFAS
                sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                          No. 110 “Accounting for Sukuk”.




                                                                                                 172                                                           ANNUAL REPORT 2023                1239
Page 733
            MAIN                                   MANAGEMENT                                        COMPANY                                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                           PROFILE                                            ANALYSIS

                                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                         (Expressed in millions of Rupiah, unless otherwise stated)


            8.   OBLIGASI PEMERINTAH (lanjutan)                                                         8.     GOVERNMENT BONDS (continued)
                 b.   Berdasarkan jenis (lanjutan)                                                             b.      By type (continued)
                                                                                                             2022

                                                                       Nominal/
                                                                         biaya          Tingkat
                                                                      perolehan/          suku
                                                                         biaya           bunga
                                                                      perolehan            per                                                Frekuensi
                                                                     diamortisasi/       tahun/                                              pembayaran
                                                                       Nominal/         Interest                               Tanggal           bunga/
                                                                        cost/ at          rates                             jatuh tempo/     Frequency of
                                                                      amortised            per        Nilai wajar/             Maturity         interest
                                                                         cost            annum        Fair value                dates          payment

                      Rupiah                                                                                                                                                                     Rupiah
                      Diukur pada nilai wajar                                                                                                                                        Fair value through
                         melalui laba rugi                                                                                                                                             profit or loss
                      Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                                          4,00% -                            10/03/2023 –     1 dan 6 bulan/
                      Obligasi suku bunga tetap                           6.811.770       12,00%         6.838.806            15/08/2051     1 and 6 months                              Fixed rate bonds
                      Obligasi suku bunga mengambang                        116.437        4,79%           117.358            25/04/2025     3 bulan/months                           Floating rate bonds

                                                                          6.928.207                      6.956.164
                      Investasi pada unit-link*)                                                                                                                      Investments in unit-link contracts*)
                                                                                          4,00% -                            10/03/2023 –     1 dan 6 bulan/
                      Obligasi suku bunga tetap                           4.916.166       11,00%         4.916.166             15/08/2051    1 and 6 months                             Fixed rate bonds

                      Diukur pada nilai wajar                                                                                                                                       Fair value through
                         melalui penghasilan                                                                                                                                  other comprehensive
                         komprehensif lain **)                                                                                                                                             income**)
                      Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                                           4,00% -                           15/05/2023 –     1 dan 6 bulan/
                      Obligasi suku bunga tetap                          60.705.506       11,00%       62.646.177             15/02/2044     1 and 6 months                             Fixed rate bonds
                      Mata uang asing                                                                                                                                               Foreign currencies
                      Diukur pada nilai wajar                                                                                                                                       Fair value through
                         melalui laba rugi                                                                                                                                            profit or loss
                      Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                                          4,45% -                            11/02/2024 –
                      Obligasi suku bunga tetap                              15.941        5,13%             16.115            08/01/2045    6 bulan/months                             Fixed rate bonds
                      Diukur pada nilai wajar                                                                                                                                       Fair value through
                         melalui penghasilan                                                                                                                                  other comprehensive
                         komprehensif lain                                                                                                                                                  income
                      Obligasi Pemerintah                                                                                                                                            Government bonds
                                                                                          1,00% -                            11/01/2023 –
                      Obligasi suku bunga tetap                          31.323.436        8,50%       29.885.909              20/09/2052    6 bulan/months                             Fixed rate bonds

                      *)    Investasi pada unit-link adalah investasi yang dimiliki oleh pemegang                      *)     Investments in unit-link contracts are investments owned by
                            polis pada kontrak unit-link Entitas Anak yang disajikan sebesar nilai                            policyholders of unit-link contracts of Subsidiary which are presented at
                            wajar.                                                                                            fair value.
                      **)   Termasuk sukuk, project based sukuk dan sukuk ritel yang                                   **)    Including sukuk, project-based sukuk and retail sukuk which are
                            diklasifikasikan sebagai diukur pada nilai wajar melalui penghasilan
                            komprehensif lain.                                                                                classified as at fair value through other comprehensive income.

                                                                                                             2022

                                                                       Nominal/
                                                                         biaya
                                                                      perolehan/
                                                                         biaya
                                                                      perolehan                                                               Frekuensi
                                                                     diamortisasi/            Tingkat                                        pembayaran
                                                                       Nominal/             suku bunga                   Tanggal                 bunga/
                                                                        cost/ at             per tahun/               jatuh tempo/           Frequency of
                                                                      amortised            Interest rates                Maturity               interest
                                                                         cost               per annum                     dates                payment

                      Rupiah                                                                                                                                                                      Rupiah
                      Diukur pada biaya perolehan
                         diamortisasi                                                                                                                                                 At amortised cost
                      Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                                     4,00% -                 15/05/2023 -      1 dan 6 bulan/
                      Obligasi suku bunga tetap                        154.837.852                   12,00%                   15/06/2042     1 and 6 months                             Fixed rate bonds

                                                      *)
                      Diukur pada biaya perolehan                                                                                                                                             At cost*)
                      Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                                     4,00% -                 10/03/2023 –      1 dan 6 bulan/
                      Obligasi suku bunga tetap                          43.717.377                  10,25%                    15/04/2043    1 and 6 months                             Fixed rate bonds

                      Mata uang asing                                                                                                                                               Foreign currencies
                      Diukur pada biaya perolehan
                         diamortisasi                                                                                                                                                 At amortised cost
                      Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                                     1,50% -                 17/10/2023 –
                      Obligasi suku bunga tetap                          25.740.201                   8,50%                    17/02/2037     6 bulan/months                            Fixed rate bonds

                      Diukur pada biaya perolehan*)                                                                                                                                           At cost*)
                      Obligasi Pemerintah                                                                                                                                             Government bonds
                                                                                                     2,30% -                 01/03/2023 –
                      Obligasi suku bunga tetap                             495.803                   4,40%                    06/06/2027     6 bulan/months                            Fixed rate bonds
                      *)    Obligasi Pemerintah yang dimiliki Entitas Anak yang diklasifikasikan                        *)     Government bonds owned by Subsidiary are classified based on SFAS
                            sesuai dengan PSAK 110 “Akuntansi Sukuk”.                                                          No. 110 “Accounting for Sukuk”.




1240 PT Bank Mandiri (Persero) Tbk                                                                           173
Page 734
     CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                               Financial
     GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                              KEUANGAN   2023
                                                                                                               Statements 2023

                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


8.   OBLIGASI PEMERINTAH (lanjutan)                             8.     GOVERNMENT BONDS (continued)

     c.   Informasi lain                                               c.   Other information

          Pada tanggal 31 Desember 2023, Obligasi                           As of 31 December 2023, Government Bonds with
          Pemerintah         dengan      jumlah    nominal                  total nominal amount of USD2,245,768,868
          USD2.245.768.868 (nilai penuh) dan RpNihil                        (full amount) and RpNil (31 December 2022:
          (31 Desember 2022: USD1.540.153.393 (nilai                        USD1,540,153,393 (full amount) and Rp1,170,000)
          penuh) dan Rp1.170.000) telah dijual dengan                       were sold under repurchase agreements (Note 28).
          janji untuk dibeli kembali (Catatan 28).

          Pada tanggal 31 Desember 2023 dan 2022,                           As of 31 December 2023 and 2022, Bank
          kolektibilitas Bank Indonesia untuk Obligasi                      Indonesia’s collectibility for government bonds is
          Pemerintah adalah lancar.                                         current.


9.   TAGIHAN   LAINNYA                 –     TRANSAKSI          9.     OTHER RECEIVABLES – TRADE TRANSACTIONS
     PERDAGANGAN

     a.   Berdasarkan jenis, mata uang, pihak berelasi dan             a.   By type, currency, related parties and third parties:
          pihak ketiga:

                                                     2023                     2022

          Rupiah                                                                                                        Rupiah
              Pihak berelasi (Catatan 56)                                                          Related parties (Note 56)
                  Usance L/C payable at sight              218.270                825.810       Usance L/C payable at sight
                 Tagihan Supplier Chain                                                           Supplier Chain Financing
                    Financing                          1.677.687                8.037.934                    receivables
                  Lain-lain                            5.253.511                4.715.835                           Others

                                                       7.149.468               13.579.579

              Pihak ketiga                                                                                      Third parties
                  Usance L/C payable at sight          1.550.710                1.607.332       Usance L/C payable at sight
                 Tagihan Supplier Chain                                                           Supplier Chain Financing
                    Financing                          1.261.694                1.136.264                    receivables
                  Lain-lain                            4.004.912                5.048.128                           Others

                                                       6.817.316                7.791.724

              Total Rupiah                           13.966.784                21.371.303                          Total Rupiah

          Mata uang asing                                                                                   Foreign currencies
              Pihak berelasi (Catatan 56)                                                           Related parties (Note 56)
                  Usance L/C payable at sight              385.238              1.508.552       Usance L/C payable at sight
                 Tagihan Supplier Chain                                                           Supplier Chain Financing
                    Financing                               44.146                 44.635                    receivables
                  Lain-lain                                  2.661                 24.853                            Others

                                                           432.045              1.578.040

              Pihak ketiga                                                                                      Third parties
                  Usance L/C payable at sight          4.682.301                3.189.451       Usance L/C payable at sight
                  Lain-lain                            6.963.423                7.654.470                           Others

                                                     11.645.724                10.843.921

              Total mata uang asing                                                                    Total foreign currencies
                (Catatan 62.B.(iv))                  12.077.769                12.421.961                     (Note 62.B.(iv))

                                                     26.044.553                33.793.264
          Dikurangi: cadangan kerugian                                                                        Less: allowance for
              penurunan nilai                         (1.494.653)              (1.604.705)                   impairment losses

          Neto                                       24.549.900                32.188.559                                        Net




                                                                     174                                      ANNUAL REPORT 2023       1241
Page 735
            MAIN                                   MANAGEMENT                                        COMPANY                                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                           PROFILE                                           ANALYSIS

                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                       (Expressed in millions of Rupiah, unless otherwise stated)


            9.   TAGIHAN   LAINNYA                                -         TRANSAKSI                 9.     OTHER RECEIVABLES - TRADE TRANSACTIONS
                 PERDAGANGAN (lanjutan)                                                                      (continued)

                 a.   Berdasarkan jenis, mata uang, pihak berelasi dan                                       a.      By type, currency, related parties and third parties
                      pihak ketiga (lanjutan):                                                                       (continued):

                      Berikut adalah perubahan nilai tercatat tagihan                                                Movements in carrying amount of other
                      lainnya - transaksi perdagangan dengan                                                         receivables - trade transactions classified as at
                      klasifikasi  biaya   perolehan     diamortisasi                                                amortised cost upon stages for the year ended 31
                      berdasarkan stage untuk tahun yang berakhir                                                    December 2023 and 2022:
                      pada tanggal 31 Desember 2023 dan 2022:

                                                                                                             2023
                                                                                                                                  Syariah*)/
                                                               Stage 1             Stage 2                 Stage 3                 Sharia*)                 Total

                      Biaya perolehan diamortisasi                                                                                                                                 At amortised cost
                      Saldo awal tahun                         31.593.450                825.526            1.239.865                    134.423            33.793.264             Beginning balance

                      Pengalihan ke/(dari):                                                                                                                                         Transfer to/(from):
                        - Stage 1                                1.041.364             (1.041.364)                         -                      -                      -              Stage 1 -
                        - Stage 2                               (2.438.768)             2.438.768                          -                      -                      -              Stage 2 -

                      Total saldo awal setelah                                                                                                                                Total beginning balance
                        pengalihan                             30.196.046              2.222.930            1.239.865                    134.423            33.793.264                after transfer

                      Pengukuran kembali bersih                                                                                                                                Remeasurement of net
                        nilai tercatat                          (1.148.854)                (9.360)            (11.845)                   138.502             (1.031.557)          carrying amount
                      Aset keuangan baru yang                                                                                                                                    New financial assets
                        diterbitkan atau                                                                                                                                              originated or
                        dibeli                                 65.805.749              4.060.289                 31.584                           -         69.897.622                  purchased
                      Aset keuangan yang                                                                                                                                             Financial assets
                        dihentikan pengakuannya               (70.779.392)             (5.947.900)            (36.328)                            -       (76.763.620)              derecognised

                      Total penambahan/(penurunan)                                                                                                                      Total increase/(decrease)
                         tahun berjalan                         (6.122.497)            (1.896.971)            (16.589)                   138.502             (7.897.555)       during the year
                      Lain-lain**)                                 (23.232)               179.751              (7.675)                         -                148.844                 Others**)

                      Saldo akhir tahun                        24.050.317                505.710            1.215.601                    272.925            26.044.553               Ending balance

                      *)    Tidak menerapkan PSAK 71.                                                                *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                                 **)   Included effect of foreign currency translation.

                                                                                                             2022
                                                                                                                                  Syariah*)/
                                                               Stage 1             Stage 2                 Stage 3                 Sharia*)                 Total

                      Biaya perolehan diamortisasi                                                                                                                                 At amortised cost
                      Saldo awal tahun                         26.691.743              1.330.830            1.194.442                      81.253           29.298.268             Beginning balance

                      Pengukuran kembali bersih                                                                                                                         Remeasurement of net
                        nilai tercatat                            (451.536)                1.770                 91.355                           -            (358.411)     carrying amount
                      Aset keuangan baru yang                                                                                                                             New financial assets
                        diterbitkan atau                                                                                                                                      originated or
                        dibeli                                 78.200.295              3.561.436                 53.721                    53.170           81.868.622           purchased
                      Aset keuangan yang                                                                                                                                     Financial assets
                        dihentikan pengakuannya               (72.827.760)             (4.659.222)            (55.714)                            -        (77.542.696)      derecognised

                      Total penambahan/(penurunan)                                                                                                                            Total increase/(decrease)
                         tahun berjalan                         4.920.999              (1.096.016)             89.362                      53.170             3.967.515              during the year
                      Lain-lain**)                                (19.292)                590.712             (43.939)                          -               527.481                       Others**)

                      Saldo akhir tahun                        31.593.450                825.526            1.239.865                    134.423            33.793.264               Ending balance


                      *)    Tidak menerapkan PSAK 71.                                                                *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                                 **)   Included effect of foreign currency translation.




1242 PT Bank Mandiri (Persero) Tbk                                                                         175
Page 736
     CORPORATE                              ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                                      LAPORAN
                                                                                                                                                   Financial
     GOVERNANCE                             & PRACTICES                            RESPONSIBILITY                                                KEUANGAN   2023
                                                                                                                                                   Statements 2023

                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


9.   TAGIHAN   LAINNYA                               -         TRANSAKSI           9.     OTHER RECEIVABLES - TRADE TRANSACTIONS
     PERDAGANGAN (lanjutan)                                                               (continued)

     b.   Berdasarkan kolektibilitas Bank Indonesia:                                      b.   By Bank Indonesia’s collectibility:

                                                                          2023                      2022

          Lancar                                                          24.539.740                32.250.518                                                   Current
          Dalam perhatian khusus                                             245.783                   259.452                                           Special mention
          Kurang lancar                                                            -                    12.419                                             Substandard
          Macet                                                            1.259.030                 1.270.875                                                     Loss

          Total                                                           26.044.553                33.793.264                                                   Total
          Dikurangi: cadangan kerugian                                                                                                             Less: allowance for
              penurunan nilai                                             (1.494.653 )               (1.604.705)                                  impairment losses

          Neto                                                            24.549.900                32.188.559                                                       Net


     c.   Berdasarkan jatuh tempo:                                                        c.   By maturity:

                                                                          2023                      2022

          Rupiah                                                                                                                                              Rupiah
              Kurang dari 1 bulan                                          3.531.550                  4.914.242                                  Less than 1 month
              1 - 3 bulan                                                  4.867.395                  8.979.096                                        1 - 3 months
              3 - 6 bulan                                                  5.269.170                  6.189.972                                        3 - 6 months
              6 - 12 bulan                                                   109.296                  1.098.620                                      6 - 12 months
              Lebih dari 12 bulan                                            189.373                    189.373                                    Over 12 months

                  Total Rupiah                                            13.966.784                21.371.303                                            Total Rupiah


          Mata uang asing                                                                                                                          Foreign currencies
              Kurang dari 1 bulan                                          1.872.337                  2.835.630                                  Less than 1 month
              1 - 3 bulan                                                  6.980.224                  4.749.700                                        1 - 3 months
              3 - 6 bulan                                                  2.010.227                  3.754.340                                        3 - 6 months
              6 - 12 bulan                                                   145.324                        789                                      6 - 12 months
              Lebih dari 12 bulan                                          1.069.657                  1.081.502                                    Over 12 months

                  Total Mata uang asing                                                                                                  Total foreign currencies
                    (Catatan 62.B.(iv))                                   12.077.769                12.421.961                                 (Note 62.B.(iv))

                                                                          26.044.553                33.793.264
          Dikurangi: cadangan kerugian                                                                                                             Less: allowance for
              penurunan nilai                                             (1.494.653)                (1.604.705)                                  impairment losses

          Neto                                                            24.549.900                32.188.559                                                       Net

     d.   Mutasi cadangan kerugian penurunan                              nilai           d.   Movements of allowance for impairment losses on
          tagihan lainnya - transaksi perdagangan:                                             other receivables - trade transactions:

                                                                          2023                      2022

          Saldo awal tahun                                                 1.604.705                  1.480.721                                        Beginning balance
          Pembentukan/(pembalikan)
              selama tahun                                                                                                             Allowance/(reversal) during
              berjalan (Catatan 46)                                          (91.037)                      27.813                            the year (Note 46)
          Lain-lain*)                                                        (19.015)                      96.171                                         Others*)

          Saldo akhir tahun                                                1.494.653                  1.604.705                                         Ending balance

          *)   Termasuk selisih kurs karena penjabaran mata uang asing.                        *)   Included effect of foreign currency translation.




                                                                                        176                                                        ANNUAL REPORT 2023      1243
Page 737
            MAIN                                   MANAGEMENT                                     COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                        PROFILE                                             ANALYSIS

                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


            9.   TAGIHAN   LAINNYA                                -            TRANSAKSI           9.     OTHER RECEIVABLES - TRADE TRANSACTIONS
                 PERDAGANGAN (lanjutan)                                                                   (continued)

                 d.   Mutasi cadangan kerugian penurunan nilai                                            d.      Movements of allowance for impairment losses on
                      tagihan lainnya - transaksi perdagangan                                                     other receivables - trade transactions (continued):
                      (lanjutan):
                                                                                                          2023
                                                                                                                               Syariah*)/
                                                               Stage 1             Stage 2              Stage 3                 Sharia*)                 Total

                      Saldo awal tahun                                81.376           239.125           1.239.865                     44.339             1.604.705             Beginning balance

                      Pengalihan ke/(dari):                                                                                                                                      Transfer to/(from):
                      - Kerugian kredit                                                                                                                                               12 months -
                        ekspektasian 12 bulan                                                                                                                                    expected credit
                        (stage 1)                                     10.144           (10.144)                         -                     -                       -        (stage 1) losses
                      - Kerugian kredit                                                                                                                                       Lifetime expected -
                        ekspektasian sepanjang                                                                                                                                    credit losses -
                        umurnya - tidak mengalami                                                                                                                                    unimpaired
                        penurunan nilai (stage 2)                     (17.497)          17.497                          -                     -                       -                (stage 2)

                      Total saldo awal setelah                                                                                                                             Total beginning balance
                         pengalihan                                   74.023           246.478           1.239.865                     44.339             1.604.705                after transfer

                      Pengukuran kembali bersih                                                                                                                             Net remeasurement of
                        penyisihan kerugian                           (32.018)          35.897                 4.095                    1.385                   9.359         losses allowance
                      Aset keuangan baru yang                                                                                                                                New financial assets
                        diterbitkan atau                                                                                                                                           originated or
                        dibeli                                    115.354              557.668                20.157                          -             693.179                  purchased
                      Aset keuangan yang                                                                                                                                          Financial assets
                        dihentikan pengakuannya                   (101.944)            (659.062)           (32.569)                           -             (793.575)             derecognised

                      Total pembentukan/                                                                                                                                         Total allowance/
                         (pembalikan)                                                                                                                                                (reversal)
                         tahun berjalan                               (18.608)          (65.497)            (8.317)                     1.385                (91.037)           during the year
                      Lain-lain**)                                       (723)           (2.344)           (15.947)                        (1)               (19.015)                     Others**)

                      Saldo akhir tahun                               54.692           178.637           1.215.601                     45.723             1.494.653              Ending balance

                      *)    Tidak menerapkan PSAK 71.                                                             *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)   Included effect of foreign currency translation.

                                                                                                          2022
                                                                                                                               Syariah*)/
                                                               Stage 1             Stage 2              Stage 3                 Sharia*)                 Total

                      Saldo awal tahun                                56.248           185.603           1.194.442                     44.428             1.480.721             Beginning balance

                      Pengukuran kembali bersih                                                                                                                             Net remeasurement of
                        penyisihan kerugian                           (21.417)          27.346             (28.934)                        (89)              (23.094)         losses allowance
                      Aset keuangan baru yang                                                                                                                                New financial assets
                        diterbitkan atau                                                                                                                                           originated or
                        dibeli                                    146.377              522.221                53.721                              -         722.319                  purchased
                      Aset keuangan yang                                                                                                                                          Financial assets
                        dihentikan pengakuannya                   (104.869)            (510.854)           (55.689)                            -            (671.412)             derecognised

                      Total pembentukan/                                                                                                                                         Total allowance/
                         (pembalikan)                                                                                                                                                (reversal)
                         tahun berjalan                               20.091            38.713             (30.902)                        (89)               27.813            during the year
                      Lain-lain**)                                     5.037            14.809              76.325                           -                96.171                      Others**)

                      Saldo akhir tahun                               81.376           239.125           1.239.865                     44.339             1.604.705              Ending balance

                      *)    Tidak menerapkan PSAK 71.                                                             *)    Not implement SFAS 71
                      **)   Termasuk selisih kurs karena penjabaran mata uang asing.                              **)   Included effect of foreign currency translation.


                      Manajemen       berpendapat     bahwa   jumlah                                              Management believes that the allowance for
                      cadangan kerugian penurunan nilai tagihan                                                   impairment losses on other receivables - trade
                      lainnya -transaksi perdagangan telah memadai.                                               transactions is adequate.

                 e.   Informasi mengenai pengelompokan berdasarkan                                        e. Information       in respect of classification of
                      kelompok “tidak mengalami penurunan nilai” dan                                              “non-impaired” and “impaired” is disclosed in Note
                      “mengalami penurunan nilai” diungkapkan pada                                                62A.
                      Catatan 62A.




1244 PT Bank Mandiri (Persero) Tbk                                                                      177
Page 738
     CORPORATE                    ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                        LAPORAN
                                                                                                                   Financial
     GOVERNANCE                   & PRACTICES                    RESPONSIBILITY                                  KEUANGAN   2023
                                                                                                                   Statements 2023

                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


10. TAGIHAN ATAS EFEK-EFEK YANG                      DIBELI      10. SECURITIES PURCHASED UNDER AGREEMENTS
    DENGAN JANJI DIJUAL KEMBALI                                      TO RESELL

    a.   Tagihan atas efek-efek yang dibeli dengan janji              a.      Securities purchased under agreements to resell
         dijual kembali

                                                                    2023

                                                                                  Pendapatan
                                    Tanggal         Tanggal      Nilai jual       bunga belum       Nilai
                                    dimulai/     jatuh tempo/    Kembali/          direalisasi/     Neto/
                                    Starting        Maturity      Resale          Unamortised      Carrying
                 Jenis efek           date            date       amount              interest      amount           Type of securities

         Pihak ketiga                                                                                                       Third parties
         Rupiah                                                                                                                   Rupiah
             Obligasi VR0062        28/12/2023      04/01/2024    11.907.162               5.946    11.901.216          Bond VR0062
             Obligasi VR0042        29/12/2023      05/01/2024     2.565.178               1.709     2.563.469          Bond VR0042
             Obligasi VR0038        27/12/2023      03/01/2024     1.770.679                 589     1.770.090          Bond VR0038
             Obligasi VR0054        28/12/2023      04/01/2024       957.852                 478       957.374          Bond VR0054
             Obligasi FR0087        28/12/2023      04/01/2024       662.669                 344       662.325          Bond FR0087
             Obligasi VR0034        27/12/2023      03/01/2024       619.961                 206       619.755          Bond VR0034
             Obligasi FR0059        28/12/2023      04/01/2024       487.541                 254       487.287          Bond FR0059
             Obligasi FR0081        28/12/2023      04/01/2024       477.183                 248       476.935          Bond FR0081
             Obligasi FR0086        29/12/2023      02/01/2024       471.749                  77       471.672          Bond FR0086
             SBI IDSR151124364S     28/12/2023      04/01/2024       471.352                 246       471.106   SBI IDSR151124364S
             Obligasi FR0090        28/12/2023      04/01/2024       462.878                 241       462.637          Bond FR0090
             Obligasi FR0084        28/12/2023      04/01/2024       298.038                 156       297.882          Bond FR0084
             Obligasi FR0100        28/12/2023      04/01/2024       286.974                 149       286.825          Bond FR0100
             Obligasi FR0064        28/12/2023      03/01/2024       283.618                  99       283.519          Bond FR0064
             Obligasi FR0040        27/12/2023      02/01/2024       211.067                  36       211.031          Bond FR0040
             Obligasi FR0081        21/12/2023      04/01/2024       190.774                 103       190.671          Bond FR0081
             Obligasi VR0050        27/12/2023      03/01/2024        96.094                  32        96.062          Bond VR0050
             Saham BMRI             31/08/2023      27/02/2024           810                   -           810            Share BMRI
             Saham BMRI             28/08/2023      23/02/2024           526                   -           526            Share BMRI
             Saham ACES             18/08/2023      14/02/2024           414                   1           413           Share ACES
             Saham ACES             08/12/2023      05/06/2024           303                   -           303           Share ACES
             Obligasi ORI021        27/07/2023      23/01/2024           302                   -           302          Bond ORI021
             Saham WTON             25/09/2023      22/03/2024           282                   -           282          Share WTON
             Saham GGRM             25/09/2023      22/03/2024           263                   -           263          Share GGRM
             Saham BMRI             04/10/2023      01/04/2024           259                   -           259            Share BMRI
             Saham BMRI             27/10/2023      24/04/2024           205                   -           205            Share BMRI
             Saham UNTR             25/07/2023      19/01/2024           185                   -           185           Share UNTR
             Saham BBTN             05/10/2023      02/04/2024           150                   -           150           Share BBTN
             Saham BSDE             25/09/2023      22/03/2024           126                   -           126           Share BSDE
             Saham PWON             25/09/2023      22/03/2024           117                   -           117          Share PWON
             Saham BBTN             25/09/2023      22/03/2024            97                   -            97           Share BBTN
             Saham HMSP             25/09/2023      22/03/2024            88                   1            87           Share HMSP
             Saham ITMG             26/07/2023      22/01/2024            59                   -            59            Share ITMG
             Saham PTBA             13/07/2023      09/01/2024            57                   -            57           Share PTBA
             Saham BJBR             02/11/2023      30/04/2024            56                   -            56           Share BJBR
             Saham PTBA             30/08/2023      26/02/2024            51                   -            51           Share PTBA
             Saham BMRI             26/07/2023      22/01/2024            45                   -            45            Share BMRI
             Saham BBTN             25/07/2023      19/01/2024            33                   -            33           Share BBTN
             Obligasi ORI020        27/07/2023      23/01/2024            33                   -            33          Bond ORI020
             Saham PTBA             14/07/2023      10/01/2024            15                   -            15           Share PTBA
             Obligasi ORI022        27/07/2023      23/01/2024            15                   -            15          Bond ORI022
             Obligasi SR017         27/07/2023      23/01/2024            15                   -            15           Bond SR017
             Saham TOTL             14/07/2023      10/01/2024            14                   1            13            Share TOTL
             Saham HEXA             14/07/2023      10/01/2024            12                   -            12           Share HEXA
             Saham MTEL             14/07/2023      10/01/2024            11                   -            11           Share MTEL
             Saham GGRM             14/07/2023      10/01/2024             5                   -             5          Share GGRM
             Saham ARCI             14/07/2023      10/01/2024             2                   -             2            Share ARCI
             Saham BJTM             14/07/2023      10/01/2024             2                   -             2           Share BJTM

                                                                  22.225.321             10.916     22.214.405

         Pihak ketiga                                                                                                        Third parties
         Mata uang asing                                                                                               Foreign currencies
             Obligasi FR0082        12/12/2023      12/01/2024        479.361               838       478.523           Bond FR0082

         Total                                                    22.704.682             11.754     22.692.928                       Total




                                                                   178                                            ANNUAL REPORT 2023         1245
Page 739
            MAIN                           MANAGEMENT                        COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                     REPORTS                           PROFILE                            ANALYSIS

                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            10. TAGIHAN ATAS EFEK-EFEK YANG DIBELI                            10. SECURITIES PURCHASED UNDER AGREEMENTS
                DENGAN JANJI DIJUAL KEMBALI (lanjutan)                            TO RESELL (continued)

                a.   Tagihan atas efek-efek yang dibeli dengan janji                a.      Securities purchased under agreements to resell
                     dijual kembali (lanjutan)                                              (continued)

                                                                                  2022

                                                                                               Pendapatan
                                                Tanggal         Tanggal        Nilai jual      bunga belum       Nilai
                                                dimulai/     jatuh tempo/      kembali/         direalisasi/     neto/
                                                Starting        Maturity        Resale         Unamortised      Carrying
                             Jenis efek           date            date         amount             interest      amount        Type of securities

                     Pihak ketiga                                                                                                     Third parties
                     Rupiah                                                                                                                 Rupiah
                         Obligasi FR0081        30/12/2022      03/01/2023          962.762               288       962.474       Bond FR0081
                         Obligasi VR0034        30/12/2022      06/01/2023          957.562               731       956.831       Bond VR0034
                         Obligasi VR0034        26/12/2022      02/01/2023          956.758               146       956.612       Bond VR0034
                         Obligasi VR0086        29/12/2022      12/01/2023          648.562             1.137       647.425       Bond VR0086
                         Obligasi VR0034        26/12/2022      02/01/2023          642.721                98       642.623       Bond VR0034
                         Obligasi VR0057        29/12/2022      26/01/2023          607.464             2.519       604.945       Bond VR0057
                         Obligasi FR0046        30/12/2022      02/01/2023          523.231                72       523.159       Bond FR0046
                         Obligasi FR0059        29/12/2022      03/01/2023          492.316               153       492.163       Bond FR0059
                         Obligasi VR0044        26/12/2022      23/01/2023          483.408             1.764       481.644       Bond VR0044
                         Obligasi VR0077        23/12/2022      20/01/2023          470.342             1.483       468.859       Bond VR0077
                         Obligasi VR0053        26/12/2022      09/01/2023          467.804               596       467.208       Bond VR0053
                         Obligasi FR0081        29/12/2022      02/01/2023          385.142                57       385.085       Bond FR0081
                         Obligasi FR0059        22/12/2022      02/01/2023          344.491                54       344.437       Bond FR0059
                         Obligasi VR0064        28/12/2022      25/01/2023          334.470             1.332       333.138       Bond VR0064
                         Obligasi FR0072        29/12/2022      03/01/2023          309.004                94       308.910       Bond FR0072
                         Obligasi VR0075        28/12/2022      11/01/2023          281.742               449       281.293       Bond VR0075
                         Obligasi VR0065        30/12/2022      27/01/2023          279.264             1.204       278.060       Bond VR0065
                         Obligasi VR0037        27/12/2022      24/01/2023          233.831               893       232.938       Bond VR0037
                         Obligasi FR0059        23/12/2022      02/01/2023          196.492                32       196.460       Bond FR0059
                         Obligasi VR0042        27/12/2022      03/01/2023          190.175                58       190.117       Bond VR0042
                         Obligasi FR0080        28/12/2022      04/01/2023          187.434                90       187.344       Bond FR0080
                         Obligasi VR0079        12/12/2022      09/01/2023          186.245               237       186.008       Bond VR0079
                         Obligasi VR0041        20/12/2022      17/01/2023          186.442               474       185.968       Bond VR0041
                         Obligasi VR0068        07/12/2022      04/01/2023          185.909                88       185.821       Bond VR0068
                         Obligasi FR0087        07/12/2022      09/01/2023          185.351               240       185.111       Bond FR0087
                         Obligasi VR0048        27/12/2022      10/01/2023          144.332               207       144.125       Bond VR0048
                         Obligasi VR0084        06/12/2022      03/01/2023          139.558                44       139.514       Bond VR0084
                         Obligasi VR0069        15/12/2022      12/01/2023          139.605               245       139.360       Bond VR0069
                         Obligasi VR0038        26/12/2022      02/01/2023          122.423                19       122.404       Bond VR0038
                         Obligasi VR0073        08/12/2022      05/01/2023          117.276                75       117.201       Bond VR0073
                         Obligasi VR0049        13/12/2022      10/01/2023           93.689               134        93.555       Bond VR0049
                         Obligasi VR0068        14/12/2022      11/01/2023           93.053               148        92.905       Bond VR0068
                         Obligasi FR0046        10/11/2022      09/02/2023           31.624               193        31.431       Bond FR0046
                         Obligasi FR0088        01/12/2022      02/03/2023           26.851               275        26.576       Bond FR0088
                         Obligasi FR0059        06/12/2022      07/03/2023           19.831               220        19.611       Bond FR0059
                         Obligasi FR0059        29/12/2022      30/03/2023           19.949               309        19.640       Bond FR0059
                         Obligasi FR0059        27/12/2022      28/03/2023           19.910               301        19.609       Bond FR0059
                         Obligasi FR0059        01/11/2022      31/01/2023           19.690                93        19.597       Bond FR0059
                         Obligasi FR0059        13/12/2022      14/03/2023           19.838               243        19.595       Bond FR0059
                         Obligasi FR0046        22/11/2022      21/02/2023           10.544                91        10.453       Bond FR0046
                         Saham PTBA             01/12/2022      30/05/2023            1.535                 1         1.534        Share PTBA
                         Saham ITMG             01/12/2022      30/05/2023            1.308                 1         1.307         Share ITMG
                         Saham BMRI             22/09/2022      21/03/2023              780                 -           780         Share BMRI
                         Saham BMRI             06/09/2022      03/03/2023              714                 2           712         Share BMRI
                         Saham WTON             23/09/2022      22/03/2023              338                 1           337       Share WTON
                         Saham GGRM             23/09/2022      22/03/2023              239                 -           239       Share GGRM
                         Saham BMRI             13/10/2022      11/04/2023              207                 -           207         Share BMRI
                         Saham ITMG             10/11/2022      09/05/2023              205                 -           205         Share ITMG
                         Saham PWON             23/09/2022      22/03/2023              104                 -           104       Share PWON
                         Saham ITMG             16/12/2022      14/06/2023              101                 -           101         Share ITMG
                         Saham BSDE             23/09/2022      22/03/2023               99                 -            99        Share BSDE
                         Saham BBTN             23/09/2022      22/03/2023               94                 1            93        Share BBTN
                         Saham BDMN             23/09/2022      22/03/2023               62                 -            62        Share BDMN

                     Total                                                      11.722.881            16.892     11.705.989                  Total




1246 PT Bank Mandiri (Persero) Tbk                                               179
Page 740
     CORPORATE                     ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                       LAPORAN
                                                                                                                         Financial
     GOVERNANCE                    & PRACTICES                          RESPONSIBILITY                                 KEUANGAN   2023
                                                                                                                         Statements 2023

                                               PT BANK MANDIRI (PERSERO) Tbk.
                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


10. TAGIHAN ATAS EFEK-EFEK YANG DIBELI                                 10. SECURITIES PURCHASED UNDER AGREEMENTS
    DENGAN JANJI DIJUAL KEMBALI (lanjutan)                                 TO RESELL (continued)

    a.   Tagihan atas efek-efek yang dibeli dengan janji                    a.    Securities purchased under agreements to resell
         dijual kembali (lanjutan)                                                (continued)

         Berikut adalah perubahan tagihan atas efek-efek                          Changes in carrying amount of securities
         yang dibeli dengan janji dijual kembali dengan                           purchased under agreements to resell classified as
         klasifikasi biaya perolehan diamortisasi yang                            at amortised cost upon stage 1 for the year ended
         seluruhnya adalah klasifikasi stage 1 untuk tahun                        31 December 2023 and 2022:
         yang berakhir pada tanggal 31 Desember 2023
         dan 2022:

                                                                         2023

                                                                       Cadangan
                                                Nilai tercatat          kerugian
                                                    bruto/          penurunan nilai/
                                                    Gross            Allowance for             Nilai tercatat/
                                                  carrying            impairment                 Carrying
                                                   amount                losses                   amount

         Biaya perolehan diamortisasi                                                                                        At amortised cost
         Saldo awal tahun                            11.705.989                        -            11.705.989               Beginning balance
         Aset keuangan yang baru dibeli              61.217.202                        -            61.217.202    New purchased financial assets
         Aset keuangan yang jatuh tempo
            atau dijual                              (50.230.263)                      -           (50.230.263)   Matured or sold financial assets

         Saldo akhir tahun                           22.692.928                            -        22.692.928                   Ending balance



                                                                         2022

                                                                       Cadangan
                                                Nilai tercatat          kerugian
                                                    bruto/          penurunan nilai/
                                                    Gross            Allowance for             Nilai tercatat/
                                                  carrying            impairment                 Carrying
                                                   amount                losses                   Amount

         Biaya perolehan diamortisasi                                                                                        At amortised cost
         Saldo awal tahun                            27.317.000                        -            27.317.000               Beginning balance
         Aset keuangan yang baru dibeli              35.103.557                        -            35.103.557    New purchased financial assets
         Aset keuangan yang jatuh tempo
            atau dijual                              (50.714.568)                      -           (50.714.568)   Matured or sold financial assets

         Saldo akhir tahun                           11.705.989                        -            11.705.989                   Ending balance



    b.   Berdasarkan kolektibilitas Bank Indonesia:                         b.    By Bank Indonesia’s collectibility:

                                                           2023                            2022

         Lancar                                            22.692.928                      11.705.989                                   Current


         Pada tanggal 31 Desember 2023 dan 2022, tidak                            As of 31 December 2023 and 2022, there was no
         terdapat penurunan nilai sehingga cadangan                               impairment therefore the allowance for impairment
         kerugian penurunan nilai tagihan atas efek-efek                          losses on securities purchased under agreements
         yang dibeli dengan janji dijual kembali tidak                            to resell was not provided.
         dibentuk.

    c.   Informasi mengenai pengelompokan berdasarkan                       c.   Information in respect of classification of
         kelompok “tidak mengalami penurunan nilai” dan                          “non-impaired” and “impaired” is disclosed in Note
         “mengalami penurunan nilai” diungkapkan pada                            62A.
         Catatan 62A.




                                                                          180                                           ANNUAL REPORT 2023           1247
Page 741
            MAIN                              MANAGEMENT                     COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                        PROFILE                              ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            11. TAGIHAN DAN LIABILITAS DERIVATIF                               11. DERIVATIVE RECEIVABLES AND PAYABLES

                Ikhtisar transaksi derivatif pada tanggal 31 Desember               As of 31 December 2023, the summary of derivative
                2023 adalah sebagai berikut:                                        transactions is as follows:
                                                                                2023
                                                                                 Nilai wajar/Fair value
                                                            Nilai kontrak
                                                           (absolut setara
                                                               Rupiah)/
                                                               Notional
                                                               amount          Tagihan         Liabilitas
                                                              (absolute       derivatif/       derivatif/
                                                               Rupiah         Derivative       Derivative
                                      Transaksi              equivalent)     receivables       payables                   Transactions

                 Pihak berelasi (Catatan 56)                                                                                Related parties (Note 56)

                 Terkait nilai tukar                                                                                        Foreign currencies related
                 Kontrak berjangka - beli                                                                                               Forward - buy
                     Dolar Amerika Serikat                        229.975           1.777                  773                 United States Dollar
                     Lain-lain                                    119.107             675                    -                              Others
                 Kontrak berjangka - jual                                                                                               Forward - sell
                     Dolar Amerika Serikat                     25.172.445         151.868                 3.154                United States Dollar
                 Swap - beli                                                                                                               Swap - buy
                     Dolar Amerika Serikat                      7.628.299          11.057             47.997                   United States Dollar
                 Swap - jual                                                                                                               Swap - sell
                     Dolar Amerika Serikat                      1.151.762           5.332                  903                 United States Dollar

                 Terkait suku bunga                                                                                                Interest rate related
                 Swap - suku bunga                                                                                                 Swap - interest rate
                     Lain-lain                                  3.891.861          27.447             23.577                                  Others

                 Total pihak berelasi                                             198.156             76.404                      Total related parties


                 Pihak ketiga                                                                                                            Third parties

                 Terkait nilai tukar                                                                                        Foreign currencies related
                 Kontrak berjangka - beli                                                                                               Forward - buy
                     Dolar Amerika Serikat                     17.616.297             905            210.053                  United States Dollar
                     Lain-lain                                  3.177.333          55.679                675                                Others

                 Kontrak berjangka - jual                                                                                               Forward - sell
                     Dolar Amerika Serikat                      3.577.577          30.646              1.961                   United States Dollar
                     Lain-lain                                  1.639.901             763             11.159                                Others

                 Swap - beli                                                                                                               Swap - buy
                    Dolar Amerika Serikat                      49.802.975         200.109            327.435                   United States Dollar
                    Lain-lain                                   1.803.780          36.196              5.581                                Others

                 Swap - jual                                                                                                               Swap - sell
                    Dolar Amerika Serikat                      43.657.158         265.592            163.798                   United States Dollar
                    Lain-lain                                   3.647.738             961             37.020                                Others

                 Option - beli                                                                                                            Option - buy
                     Dolar Amerika Serikat                        669.770          53.594                     -                United States Dollar
                     Lain-lain                                          -               -                     -                             Others

                 Option - jual                                                                                                            Option - sell
                     Dolar Amerika Serikat                        669.770                  -          30.247                   United States Dollar

                 Terkait suku bunga                                                                                                Interest rate related
                 Swap - suku bunga                                                                                                Swap - interest rate
                     Dolar Amerika Serikat                     31.506.681         590.710            535.912                   United States Dollar
                     Lain-lain                                 40.387.460         561.435            713.608                                  Others

                 Bond forward - beli                                                                                               Bond forward - buy
                    Lain-lain                                     130.000              185                    -                            Others

                 Total pihak ketiga                                             1.796.775          2.037.449                         Total third parties

                 Total                                                          1.994.931          2.113.853                                      Total




1248 PT Bank Mandiri (Persero) Tbk                                               181
Page 742
     CORPORATE                        ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                     Financial
     GOVERNANCE                       & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                     Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


11. TAGIHAN DAN LIABILITAS DERIVATIF (lanjutan)                        11. DERIVATIVE              RECEIVABLES    AND       PAYABLES
                                                                           (continued)

    Ikhtisar transaksi derivatif pada tanggal 31 Desember                   As of 31 December 2023, the summary of derivative
    2023 adalah sebagai berikut (lanjutan):                                 transactions is as follows (continued):

                                                                        2022
                                                                         Nilai wajar/Fair value
                                                   Nilai kontrak
                                                  (absolut setara
                                                      Rupiah)/
                                                      Notional
                                                      amount           Tagihan         Liabilitas
                                                     (absolute        derivatif/       derivatif/
                                                      Rupiah          Derivative       Derivative
                          Transaksi                 equivalent)      receivables       payables                  Transactions

     Pihak berelasi (Catatan 56)                                                                                   Related parties (Note 56)

     Terkait nilai tukar                                                                                           Foreign currencies related
     Kontrak berjangka - jual                                                                                                  Forward - sell
         Dolar Amerika Serikat                          15.548.789         70.752             36.162                  United States Dollar

     Swap - beli                                                                                                                  Swap - buy
        Dolar Amerika Serikat                            8.305.950         22.603             40.550                  United States Dollar

     Swap - jual                                                                                                                  Swap - sell
        Dolar Amerika Serikat                            6.665.074         16.853                 4.278                  United States Dollar

     Terkait suku bunga                                                                                                   Interest rate related
     Swap - suku bunga                                                                                                    Swap - interest rate
         Lain-lain                                       2.509.848                 -              5.943                              Others

     Total pihak berelasi                                                 110.208             86.933                     Total related parties


     Pihak ketiga                                                                                                               Third parties

     Terkait nilai tukar                                                                                           Foreign currencies related
     Kontrak berjangka - beli                                                                                                  Forward - buy
         Dolar Amerika Serikat                          11.666.015         37.466             48.713                 United States Dollar
         Lain-lain                                       1.805.690         13.836                262                               Others

     Kontrak berjangka - jual                                                                                                  Forward - sell
         Dolar Amerika Serikat                           3.596.162         14.538                 3.926               United States Dollar
         Lain-lain                                         370.291          6.822                 3.064                            Others

     Swap - beli                                                                                                                  Swap - buy
        Dolar Amerika Serikat                           14.874.295        326.768             39.431                  United States Dollar
        Lain-lain                                        2.904.801         15.223                  -                               Others

     Swap - jual                                                                                                                  Swap - sell
        Dolar Amerika Serikat                           46.564.762        223.497            217.298                  United States Dollar
        Lain-lain                                        4.584.102          2.700             15.429                               Others

     Option - beli                                                                                                               Option - buy
         Dolar Amerika Serikat                            677.186          63.704                     -               United States Dollar
         Lain-lain                                        140.000          75.909                     -                            Others

     Option - jual                                                                                                               Option - sell
         Dolar Amerika Serikat                           2.233.936                 -          22.536                  United States Dollar

     Terkait suku bunga                                                                                                   Interest rate related
     Swap - suku bunga                                                                                                    Swap - interest rate
         Dolar Amerika Serikat                          43.040.207      1.000.397            777.352                  United States Dollar
         Lain-lain                                      42.474.817        361.073            911.825                                 Others

     Total pihak ketiga                                                 2.141.933          2.039.836                        Total third parties

     Total                                                              2.252.141          2.126.769                                     Total




                                                                         182                                        ANNUAL REPORT 2023            1249
Page 743
            MAIN                               MANAGEMENT                                     COMPANY                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                        PROFILE                                 ANALYSIS


                                                                PT BANK MANDIRI (PERSERO) Tbk.
                                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


            11. TAGIHAN DAN LIABILITAS DERIVATIF (lanjutan)                                    11. DERIVATIVE             RECEIVABLES                AND        PAYABLES
                                                                                                   (continued)

                Pada tanggal 31 Desember 2023 dan 2022, Entitas                                    As of 31 December 2023 and 2022, the Subsidiary has
                Anak memiliki kontrak swap nilai tukar dan suku                                    cross currency and interest rate swap contracts which
                bunga yang memenuhi kriteria dan berlaku efektif                                   meet the criteria and effectively applied as cashflow
                sebagai lindung nilai arus kas. Keuntungan/kerugian                                hedge. The gain/loss from fair value changes related to
                atas perubahan nilai wajar sehubungan dengan                                       effective portion of cashflow hedge are recognised as
                bagian efektif dari arus kas lindung nilai diakui                                  other comprehensive income.
                sebagai penghasilan komprehensif lain.

                Pada tanggal 31 Desember 2023 dan 2022,                                            As of 31 December 2023 and 2022, the Bank Indonesia
                kolektibilitas Bank Indonesia untuk tagihan derivatif                              collectability for derivative receivables is current.
                adalah lancar.


            12. KREDIT     YANG      DIBERIKAN                                      DAN        12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH

                A.   Kredit yang diberikan dan piutang/pembiayaan                                  A.   Details of loans and sharia receivables/financing:
                     syariah terdiri atas:

                     a.    Berdasarkan jenis mata uang, pihak berelasi                                  a.     By currency, related parties and third parties:
                           dan pihak ketiga:

                                                                                   2023                      2022

                          Rupiah                                                                                                                                Rupiah
                            Pihak berelasi (Catatan 56)                           167.743.045            148.421.175                        Related parties (Note 56)
                            Pihak ketiga*)                                        932.992.618            793.534.679                                   Third parties*)

                          Total                                                1.100.735.663             941.955.854                                                       Total

                          Mata uang asing                                                                                                           Foreign currencies
                           Pihak berelasi (Catatan 56)                             70.337.975             50.964.371                        Related parties (Note 56)
                           Pihak ketiga**)                                        188.758.557            179.679.657                                  Third parties**)

                          Total (Catatan 62.B.(iv))                               259.096.532            230.644.028                                 Total (Note 62.B.(iv))

                                                                               1.359.832.195            1.172.599.882
                          Dikurangi: cadangan kerugian                                                                                                 Less: allowance for
                            penurunan nilai                                        (53.098.619)              (64.612.645)                             impairment losses

                          Neto                                                 1.306.733.576            1.107.987.237                                                         Net

                           *)    Termasuk kredit yang diukur pada nilai wajar melalui                          *)    Including loans measured at fair value through other
                                 penghasilan komprehensif lain, berdasarkan kategori “pihak                          comprehensive income, on the “third party” category in Rupiah
                                 ketiga” pada mata uang Rupiah per tanggal 31 Desember                               currency as of 31 December 2023 and 2022 amounted to
                                 2023 dan 2022 adalah masing-masing sebesar Rp345.413                                Rp345,413 and Rp341,552, respectively.
                                 dan Rp341.552.
                           **)   Termasuk kredit yang diukur pada nilai wajar melalui                          **)   Including loans measured at fair value through other
                                 penghasilan komprehensif lain, berdasarkan kategori “pihak                          comprehensive income, on the “third party” category in foreign
                                 ketiga” pada mata uang asing per tanggal 31 Desember 2023                           currencies as of 31 December 2023 and 2022 amounted to
                                 dan 2022 adalah masing-masing sebesar Rp2.157.635 dan                               Rp2,157,635 and Rp158,497, respectively.
                                 Rp158.497.




1250 PT Bank Mandiri (Persero) Tbk                                                               183
Page 744
     CORPORATE                              ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                                        LAPORAN
                                                                                                                                                         Financial
     GOVERNANCE                             & PRACTICES                                RESPONSIBILITY                                                  KEUANGAN   2023
                                                                                                                                                         Statements 2023


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)

12. KREDIT     YANG      DIBERIKAN                                       DAN          12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                 (continued)
    A.   Kredit yang diberikan dan piutang/pembiayaan                                         A.    Details of loans and sharia receivables/financing
         syariah terdiri atas (lanjutan):                                                           (continued):
         b.   Berdasarkan jenis dan kolektibilitas Bank                                             b.      By type and Bank Indonesia’s collectibility:
              Indonesia:
                                                                                           2023
                                                                  Dalam
                                                                perhatian
                                                                 khusus/          Kurang
                                                Lancar/          Special          Lancar/          Diragukan/            Macet/
                                                Current         mention         Substandard         Doubtful             Loss               Total


              Rupiah                                                                                                                                                            Rupiah
                    Modal kerja                  316.785.774      16.650.280        1.089.742            1.844.987          3.380.063      339.750.846              Working capital
                    Konsumen                     284.907.917      10.905.841        1.602.292            1.766.055          1.787.444      300.969.549                  Consumer
                    Investasi*)                  256.040.232       7.996.955          479.367              751.776            557.217      265.825.547                Investment*)
                    Program pemerintah            82.634.275       2.333.056          320.372              362.568            246.081       85.896.352         Government program
                    Sindikasi                     57.613.732         553.493                -                    -                  -       58.167.225                 Syndication
                    Karyawan                      44.768.536         170.995               18                  416             11.784       44.951.749                 Employees
                    Ekspor                         5.100.758          18.596                -                    -             55.041        5.174.395                      Export
              Total                            1.047.851.224      38.629.216        3.491.791            4.725.802          6.037.630     1.100.735.663                           Total


              Mata uang asing                                                                                                                                       Foreign currencies
                 Investasi                       119.995.135        5.390.280               -                   -            939.931       126.325.346                 Investment
                 Sindikasi**)                     67.864.704        3.873.273         333.794                   -                  -        72.071.771               Syndication**)
                 Modal kerja                      42.753.144        4.583.064               -             512.217             86.490        47.934.915              Working capital
                 Ekspor                           10.590.111                -               -                   -              5.842        10.595.953                      Export
                 Konsumen                          2.166.147            2.306               -                   -                 94         2.168.547                  Consumer
              Total (Catatan 62.B.(iv))          243.369.241      13.848.923          333.794             512.217           1.032.357      259.096.532            Total (Note 62.B.(iv))
                                               1.291.220.465      52.478.139        3.825.585            5.238.019          7.069.987     1.359.832.195
              Dikurangi: cadangan                                                                                                                                   Less: allowance for
                 kerugian penurunan nilai        (22.594.287)    (18.800.031)      (1.892.707)       (3.606.428)          (6.205.166)      (53.098.619)           impairment losses
              Neto                             1.268.626.178      33.678.108        1.932.878            1.631.591           864.821      1.306.733.576                               Net


              *)      Termasuk kredit yang diukur pada nilai wajar melalui                                  *)       Including loans measured at fair value through other
                      penghasilan komprehensif lain, berdasarkan kategori                                            comprehensive income, on the category of “current collectability”
                      “kolektibilitas lancar” pada mata uang Rupiah dengan jenis                                     in the Rupiah currency with the type of investment credit of
                      kredit investasi sebesar Rp345.413.                                                            Rp345,413.
              **)     Termasuk kredit yang diukur pada nilai wajar melalui                                  **)      Including loans measured at fair value through other
                      penghasilan komprehensif lain, berdasarkan kategori                                            comprehensive income, on the “current collectability” category in
                      “kolektibilitas lancar” pada mata uang asing dengan jenis                                      foreign currencies with a syndication loan type of Rp2,157,635.
                      kredit sindikasi sebesar Rp2.157.635.

                                                                                           2022
                                                                  Dalam
                                                                perhatian
                                                                 khusus/          Kurang
                                                Lancar/          Special          Lancar/          Diragukan/            Macet/
                                                Current         mention         Substandard         Doubtful             Loss               Total


              Rupiah                                                                                                                                                            Rupiah
                    Modal kerja                  250.991.964      10.697.514          979.736            3.063.325          6.645.262      272.377.801              Working capital
                    Konsumen                     251.098.043       8.102.973        1.167.506            1.193.778          1.687.887      263.250.187                  Consumer
                    Investasi*)                  226.470.307       7.911.481          317.884            1.077.416          2.200.218      237.977.306                Investment*)
                    Program pemerintah            77.896.456       1.754.495          187.519              252.912            302.022       80.393.404         Government program
                    Sindikasi                     40.711.583         553.493                -                    -                  -       41.265.076                 Syndication
                    Karyawan                      41.178.248         142.355              241                  243             11.438       41.332.525                 Employees
                    Ekspor                         5.146.401         210.021                -                1.297              1.836        5.359.555                      Export
              Total                              893.493.002      29.372.332        2.652.886            5.588.971        10.848.663       941.955.854                            Total
              Mata uang asing                                                                                                                                       Foreign currencies
                 Investasi                       108.233.714        6.457.629               -                   -             169.646      114.860.989                 Investment
                 Sindikasi**)                     62.210.780        3.530.433         388.533                   -                  81       66.129.827               Syndication**)
                 Modal kerja                      33.289.396        4.563.143               -             525.451           2.502.475       40.880.465              Working capital
                 Ekspor                            6.593.776           27.163               -                   -                   -        6.620.939                      Export
                 Konsumen                          2.151.708                -               -                 100                   -        2.151.808                  Consumer
              Total (Catatan 62.B.(iv))          212.479.374      14.578.368          388.533             525.551           2.672.202      230.644.028            Total (Note 62.B.(iv))
                                               1.105.972.376      43.950.700        3.041.419            6.114.522        13.520.865      1.172.599.882
              Dikurangi: cadangan                                                                                                                                   Less: allowance for
                 kerugian penurunan nilai        (28.002.738)    (17.487.074)      (2.008.421)       (4.613.690)         (12.500.722)      (64.612.645)           impairment losses
              Neto                             1.077.969.638      26.463.626        1.032.998            1.500.832          1.020.143     1.107.987.237                               Net



              *)      Termasuk kredit yang diukur pada nilai wajar melalui                                  *)       Including loans measured at fair value through other
                      penghasilan komprehensif lain, berdasarkan kategori                                            comprehensive income, on the category of "current collectability”
                      "kolektibilitas lancar" pada mata uang Rupiah dengan jenis                                     in the Rupiah currency with the type of investment credit of
                      kredit investasi sebesar Rp341.552.                                                            Rp341,552.
              **)     Termasuk kredit yang diukur pada nilai wajar melalui                                  **)      Including loans measured at fair value through other
                      penghasilan komprehensif lain, berdasarkan kategori                                            comprehensive income, on the "current collectability” category in
                      "kolektibilitas lancar" pada mata uang asing dengan jenis                                      foreign currencies with a syndication loan type of Rp158,497.
                      kredit sindikasi sebesar Rp158.497.




                                                                                         184                                                              ANNUAL REPORT 2023                1251
Page 745
            MAIN                                       MANAGEMENT                                COMPANY                                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                 REPORTS                                   PROFILE                                                 ANALYSIS

                                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                   (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                         DAN          12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                   (continued)

                A.   Kredit yang diberikan dan piutang/pembiayaan                                           A.    Details of loans and sharia receivables/financing
                     syariah terdiri atas (lanjutan):                                                             (continued):

                     c.        Berdasarkan        sektor    ekonomi                        dan                    c.       By economic sector and Bank Indonesia’s
                               kolektibilitas Bank Indonesia:                                                              collectibility:

                                                                                                         2023

                                                                                 Dalam
                                                                               perhatian
                                                                                khusus/         Kurang
                                                                Lancar/         Special         Lancar/          Diragukan/               Macet/
                                                                Current        mention        Substandard         Doubtful                Loss               Total


                                 Rupiah                                                                                                                                                              Rupiah
                                  Perdagangan, restoran,                                                                                                                            Trading, restaurant,
                                    dan hotel                   137.847.825       4.810.608         541.032              624.058              695.261       144.518.784                       and hotel
                                  Pertanian                     134.626.317       1.246.457         789.707              225.507              264.402       137.152.390                        Agriculture
                                  Industri                       96.389.797       5.574.697         327.885            1.756.839            2.523.558       106.572.776                     Manufacturing
                                  Jasa dunia usaha               99.761.989       2.858.468          79.817               75.716              160.574       102.936.564                 Business service
                                  Konstruksi                     80.755.330       8.841.050          27.757              183.092              443.925        90.251.154                      Construction
                                  Pengangkutan, pergudangan,                                                                                                               Transportation, warehousing,
                                    dan komunikasi*)             69.830.623       1.061.043          69.738               36.148               46.754        71.044.306         and communications*)
                                  Jasa sosial                    40.235.685         551.061          21.925               27.952               33.781        40.870.404                     Social service
                                  Tambang                        33.758.498       1.712.255           7.750                7.557                7.575        35.493.635                            Mining
                                  Listrik, gas dan air           19.834.863         554.285           1.655                  269                3.411        20.394.483        Electricity, gas and water
                                  Lain-lain                     334.810.297      11.419.292       1.624.525            1.788.664            1.858.389       351.501.167                            Others

                                 Total                         1.047.851.224     38.629.216       3.491.791            4.725.802            6.037.630      1.100.735.663                             Total


                                 Mata uang asing                                                                                                                                        Foreign currencies
                                  Tambang**)                     69.122.697          65.163               -                   -                     -        69.187.860                          Mining**)
                                  Industri ***)                  59.793.004       6.151.042               -             512.217             1.026.421        67.482.684                  Manufacturing***)
                                  Listrik, gas, dan air          25.797.065       3.491.766         333.794                   -                     -        29.622.625       Electricity, gas, and water
                                  Jasa sosial                    36.953.028               -               -                   -                     -        36.953.028                     Social service
                                  Pengangkutan, pergudangan,                                                                                                               Transportation, warehousing,
                                    dan komunikasi               20.472.108         455.061                 -                     -                 -        20.927.169          and communications
                                  Jasa dunia usaha               12.439.707         458.492                 -                     -             5.842        12.904.041                 Business service
                                  Perdagangan, restoran,                                                                                                                             Trading, restaurant,
                                    dan hotel                     9.339.003          68.164                 -                     -                 -         9.407.167                       and hotel
                                  Konstruksi                      1.768.457       3.156.929                 -                     -                 -         4.925.386                      Construction
                                  Pertanian                       4.848.674               -                 -                     -                 -         4.848.674                        Agriculture
                                  Lain-lain                       2.835.498           2.306                 -                     -                94         2.837.898                            Others

                                 Total (Catatan 62.B.(iv))      243.369.241      13.848.923         333.794             512.217             1.032.357       259.096.532              Total (Note 62.B.(iv))

                                                               1.291.220.465     52.478.139       3.825.585            5.238.019            7.069.987      1.359.832.195
                               Dikurangi: cadangan                                                                                                                                        Less: allowance
                                kerugian penurunan nilai        (22.594.287)   (18.800.031)      (1.892.707)       (3.606.428)             (6.205.166)      (53.098.619)           for impairment losses

                               Neto                            1.268.626.178     33.678.108       1.932.878            1.631.591              864.821      1.306.733.576                               Net



                          *)       Termasuk kredit yang diukur pada nilai wajar melalui                                    *)         Including loans measured at fair value through other
                                   penghasilan       komprehensif  lain, berdasarkan  kategori                                        comprehensive income, on the "current collectability” category in
                                   "kolektibilitas lancar" pada mata uang Rupiah dengan sektor                                        the Rupiah currency with the transportation, warehousing, and
                                   ekonomi pengangkutan, pergudangan, dan komunikasi sebesar                                          communication economic sector amounted to Rp345,413.
                                   Rp345.413.
                          **)      Termasuk kredit yang diukur pada nilai wajar melalui                                    **)        Including loans measured at fair value through other
                                   penghasilan       komprehensif  lain, berdasarkan  kategori                                        comprehensive income, on the category of "current collectability”
                                   "kolektibilitas lancar" pada mata uang asing dengan sektor                                         in foreign currencies with the mining economy sector amounted
                                   ekonomi tambang sebesar Rp1.636.078.                                                               to Rp1,636,078.
                          ***)     Termasuk kredit yang diukur pada nilai wajar melalui                                    ***)       Including loans measured at fair value through other
                                   penghasilan       komprehensif  lain, berdasarkan  kategori                                        comprehensive income, on the category of "current collectability”
                                   "kolektibilitas lancar" pada mata uang asing dengan sektor                                         in foreign currencies with the manufacturing economy sector
                                   ekonomi industri sebesar Rp521.557.                                                                amounted to Rp521,557.

                          .




1252 PT Bank Mandiri (Persero) Tbk                                                                     185
Page 746
     CORPORATE                                      ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                             LAPORAN
                                                                                                                                                                       Financial
     GOVERNANCE                                     & PRACTICES                                 RESPONSIBILITY                                                       KEUANGAN   2023
                                                                                                                                                                       Statements 2023

                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                          (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                                               DAN           12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                          (continued)

    A.   Kredit yang diberikan dan piutang/pembiayaan                                                  A.    Details of loans and sharia receivables/financing
         syariah terdiri atas (lanjutan):                                                                    (continued):

         c.        Berdasarkan        sektor    ekonomi                             dan                      c.       By economic sector and Bank Indonesia’s
                   kolektibilitas Bank Indonesia:                                                                     collectibility (continued):
                                                                                                     2022
                                                                          Dalam
                                                                        perhatian
                                                                         khusus/           Kurang
                                                        Lancar/          Special           Lancar/          Diragukan/               Macet/
                                                        Current         mention          Substandard         Doubtful                Loss               Total


                        Rupiah                                                                                                                                                                  Rupiah
                         Perdagangan, restoran,                                                                                                                                 Trading, restaurant,
                           dan hotel                     124.738.067        5.136.611          593.425              699.554            2.535.107       133.702.764                       and hotel
                         Pertanian                       117.284.450        1.218.362          147.565              413.580              359.545       119.423.502                        Agriculture
                         Industri                         87.135.139        6.545.837          445.949            2.613.555            4.294.810       101.035.290                    Manufacturing
                         Jasa dunia usaha                 76.172.877        2.539.976          128.079              128.439              146.124        79.115.495                 Business service
                         Konstruksi                       76.736.734        2.949.699           75.331              493.094              149.070        80.403.928                      Construction
                         Pengangkutan, pergudangan,                                                                                                                   Transportation, warehousing,
                           dan komunikasi*)               58.226.250        1.428.492           53.784               20.356            1.548.302        61.277.184         and communications*)
                         Jasa sosial                      26.329.757          478.334           11.414                9.059               41.629        26.870.193                     Social service
                         Tambang                          14.103.302          172.080            5.319                7.498               26.348        14.314.547                            Mining
                         Listrik, gas, dan air            16.440.654          556.975           13.316                   98                4.192        17.015.235       Electricity, gas, and water
                         Lain-lain                       296.325.772        8.345.966        1.178.704            1.203.738            1.743.536       308.797.716                            Others

                        Total                            893.493.002       29.372.332        2.652.886            5.588.971           10.848.663       941.955.854                              Total


                        Mata uang asing                                                                                                                                             Foreign currencies
                         Tambang**)                       71.643.690           66.062                -                   -                69.010        71.778.762                          Mining**)
                         Industri                         49.078.510        9.240.341                -             525.451             2.575.053        61.419.355                     Manufacturing
                         Listrik, gas dan air             21.408.464        3.530.433          388.533                   -                     -        25.327.430        Electricity, gas and water
                         Jasa sosial                      23.333.551                -                -                   -                     -        23.333.551                     Social service
                         Pengangkutan, pergudangan,                                                                                                                   Transportation, warehousing,
                           dan komunikasi                 15.108.933          468.500                  -                     -            28.139        15.605.572          and communications
                         Perdagangan, restoran,                                                                                                                                Trading, restaurant,
                           dan hotel                      12.945.523          119.609                  -                     -                  -       13.065.132                       and hotel
                         Jasa dunia usaha                  8.009.334           19.215                  -                     -                  -        8.028.549                 Business service
                         Konstruksi                        2.628.999        1.134.208                  -                     -                  -        3.763.207                      Construction
                         Pertanian                         5.720.538                -                  -                     -                  -        5.720.538                        Agriculture
                         Lain-lain                         2.601.832                -                  -                   100                  -        2.601.932                            Others

                        Total (Catatan 62.B.(iv))        212.479.374       14.578.368          388.533             525.551             2.672.202       230.644.028              Total (Note 62.B.(iv))

                                                       1.105.972.376       43.950.700        3.041.419            6.114.522           13.520.865     1.172.599.882
                   Dikurangi: cadangan                                                                                                                                               Less: allowance
                    kerugian penurunan nilai             (28.002.738)     (17.487.074)       (2.008.421)       (4.613.690)           (12.500.722)      (64.612.645)           for impairment losses

                   Neto                                1.077.969.638       26.463.626        1.032.998            1.500.832            1.020.143     1.107.987.237                                Net


              *)          Termasuk kredit yang diukur pada nilai wajar melalui                                        *)         Including loans measured at fair value through other
                          penghasilan       komprehensif  lain, berdasarkan  kategori                                            comprehensive income, on the "current collectability” category in
                          "kolektibilitas lancar" pada mata uang Rupiah dengan sektor                                            the Rupiah currency with the transportation, warehousing, and
                          ekonomi pengangkutan, pergudangan, dan komunikasi sebesar                                              communication economic sector amounted to Rp341,552.
                          Rp341.552.
              **)         Termasuk kredit yang diukur pada nilai wajar melalui                                        **)        Including loans measured at fair value through other
                          penghasilan       komprehensif  lain, berdasarkan  kategori                                            comprehensive income, on the category of "current collectability”
                          "kolektibilitas lancar" pada mata uang asing dengan sektor                                             in foreign currencies with the mining economy sector amounted
                          ekonomi tambang sebesar Rp158.497.                                                                     to Rp158,497.


         d.        Berdasarkan jangka waktu:                                                                 d.       By period:

                                                                                 2023                              2022

                   Rupiah                                                                                                                                                         Rupiah
                      Kurang dari 1 tahun                                      128.903.288                     114.179.441                                            Less than 1 year
                      1 - 2 tahun                                               73.345.493                      58.338.259                                                  1 - 2 years
                      2 - 5 tahun                                              244.535.984                     230.681.444                                                  2 - 5 years
                      Lebih dari 5 tahun*)                                     653.950.898                     538.756.710                                              Over 5 years*)

                   Total                                                    1.100.735.663                      941.955.854                                                                   Total
                   *)     Termasuk kredit yang diukur pada nilai wajar melalui                                        *)         Including loans measured at fair value through other
                          penghasilan komprehensif lain, berdasarkan kategori "lebih dari                                        comprehensive income, on the "more than 5 years" category in
                          5 tahun" pada mata uang Rupiah per tanggal 31 Desember                                                 Rupiah currency as of 31 December 2023 and 2022, amounted
                          2023 dan 2022 adalah masing-masing sebesar Rp345.413 dan                                               to Rp345,413 and Rp341,552, respectively.
                          Rp341.552.




                                                                                                   186                                                                ANNUAL REPORT 2023                 1253
Page 747
            MAIN                                 MANAGEMENT                                           COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                              PROFILE                                      ANALYSIS


                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                         DAN             12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                      (continued)

                A.   Kredit yang diberikan dan piutang/pembiayaan                                           A.     Details of loans and sharia receivables/financing
                     syariah terdiri atas (lanjutan):                                                              (continued):

                     d.   Berdasarkan jangka waktu (lanjutan):                                                     d.       By period (continued):

                                                                                       2023                             2022

                          Mata uang asing                                                                                                                              Foreign currencies
                             Kurang dari 1 tahun                                      29.837.241                     30.643.581                                        Less than 1 year
                             1 - 2 tahun                                              19.094.608                     17.463.622                                              1 - 2 years
                             2 - 5 tahun                                              52.755.873                     62.383.307                                              2 - 5 years
                             Lebih dari 5 tahun**)                                   157.408.810                    120.153.518                                          Over 5 years**)

                          Total (Catatan 62.B.(iv))                                  259.096.532                    230.644.028                                   Total (Note 62.B.(iv))

                                                                                   1.359.832.195                   1.172.599.882
                          Dikurangi: cadangan kerugian                                                                                                              Less: allowance for
                              penurunan nilai                                        (53.098.619)                       (64.612.645 )                              impairment losses

                          Neto                                                     1.306.733.576                   1.107.987.237                                                           Net
                          **)   Termasuk kredit yang diukur pada nilai wajar melalui                                        **)     Including loans measured at fair value through other
                                penghasilan komprehensif lain, berdasarkan kategori "lebih dari                                     comprehensive income, on the "more than 5 years" category in
                                5 tahun" pada mata uang asing per tanggal 31 Desember 2023                                          foreign currencies as of 31 December 2023 and 2022 amounted
                                dan 2022 adalah masing-masing sebesar Rp2.157.635 dan                                               to Rp2,157,635 and Rp158,497, respectively.
                                Rp158.497.

                     e.   Berdasarkan PSAK 71:                                                                     e.       Based on SFAS 71:

                          Berikut adalah perubahan nilai tercatat kredit                                                    Movements in carrying amount of loans and
                          yang diberikan dan piutang/pembiayaan                                                             sharia receivables/financing classified as
                          syariah dengan klasifikasi biaya perolehan                                                        amortised cost by stage for year ended
                          diamortisasi berdasarkan stage untuk tahun                                                        31 December 2023 and 2022:
                          yang berakhir pada tanggal 31 Desember
                          2023 dan 2022:

                                                                                                           2023
                                                                                                                                  Syariah*)/
                                                              Stage 1             Stage 2                Stage 3                   Sharia*)             Total

                          Biaya perolehan
                             diamortisasi                                                                                                                               At amortised cost
                          Saldo awal tahun                  861.614.135            85.390.165             18.888.528               206.207.005      1.172.099.833        Beginning balance
                          Transfer ke/(dari) stage 1          10.275.568          (9.283.371)               (992.197)                        -                  - Transfer to/(from) stage 1
                          Transfer ke/(dari) stage 2        (29.320.906)           30.515.826             (1.194.920)                        -                  - Transfer to/(from) stage 2
                          Transfer ke/(dari) stage 3         (3.318.336)         (27.967.374)             31.285.710                         -                  - Transfer to/(from) stage 3

                          Total saldo awal setelah                                                                                                                     Total beginning balance
                            pengalihan                      839.250.461            78.655.246             47.987.121               206.207.005      1.172.099.833              after transfer
                          Pengukuran kembali bersih                                                                                                                     Remeasurement of net
                            nilai tercatat          (92.595.976)                   (5.445.408)            (3.367.652)                          -     (101.409.036)         carrying amount
                          Aset keuangan baru yang                                                                                                                         New financial assets
                            diterbitkan atau                                                                                                                                   originated or
                            dibeli                   634.785.445                   27.841.941              1.306.697               148.091.600        812.025.683                purchased
                          Aset keuangan yang
                            dihentikan                                                                                                                                        Financial assets
                            pengakuannya           (371.938.628)                 (17.219.147)             (1.597.508)             (113.760.421)      (504.515.704)           derecognised
                          Aset keuangan yang                                                                                                                               Written-off financial
                            dihapusbuku                (166.418)                     (189.101)           (17.885.463)               (2.630.647)       (20.871.629)                   assets
                          Kerugian modifikasi                                                                                                                             Losses on modifying
                            arus kas kredit yang                                                                                                                              cash flows of
                            diberikan                          -                                  -                     -                      -                   -                  loans

                          Total penambahan/                                                                                                                                    Total increase/
                            (penurunan)                                                                                                                                         (decrease)
                            tahun berjalan                  170.084.423              4.988.285           (21.543.926)               31.700.532        185.229.314           during the year

                          Saldo akhir tahun               1.009.334.884            83.643.531             26.443.195               237.907.537      1.357.329.147             Ending balance

                          *)      Tidak menerapkan PSAK 71                                                                  *)      Not implement SFAS 71




1254 PT Bank Mandiri (Persero) Tbk                                                                       187
Page 748
     CORPORATE                            ESG COMMITMENTS                                SOCIAL AND ENVIRONMENTAL                                 LAPORAN
                                                                                                                                                    Financial
     GOVERNANCE                           & PRACTICES                                    RESPONSIBILITY                                           KEUANGAN   2023
                                                                                                                                                    Statements 2023


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                   (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                                          DAN          12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                    (continued)

    A.   Kredit yang diberikan dan piutang/pembiayaan                                          A.    Details of loans and sharia receivables/financing
         syariah terdiri atas (lanjutan):                                                            (continued):

         e.    Berdasarkan PSAK 71 (lanjutan):                                                       e.    Based on SFAS 71 (continued):
                                                                                              2022
                                                                                                                Syariah*)/
                                                 Stage 1               Stage 2             Stage 3               Sharia*)              Total

               Biaya perolehan
                  diamortisasi                                                                                                                         At amortised cost
               Saldo awal tahun                 745.168.168             87.018.909           23.749.727         170.288.023        1.026.224.827        Beginning balance
               Transfer ke/(dari) stage 1         5.750.409            (4.558.695)           (1.191.714)                  -                    - Transfer to/(from) stage 1
               Transfer ke/(dari) stage 2       (19.853.035)            20.345.091             (492.056)                  -                    - Transfer to/(from) stage 2
               Transfer ke/(dari) stage 3        (3.029.083)          (14.408.305)           17.437.388                   -                    - Transfer to/(from) stage 3

               Total saldo awal setelah                                                                                                              Total beginning balance
                 pengalihan                     728.036.459            88.397.000            39.503.345         170.288.023        1.026.224.827                after transfer
               Pengukuran kembali bersih                                                                                                              Remeasurement of net
                 nilai tercatat           (66.442.365)                  (2.963.867)          (2.151.596)                     -        (71.557.828)       carrying amount
               Aset keuangan baru yang                                                                                                                  New financial assets
                 diterbitkan atau                                                                                                                            originated or
                 dibeli                   530.449.877                    7.009.079            1.121.233         142.489.531          681.069.720               purchased
               Aset keuangan yang
                 dihentikan                                                                                                                                  Financial assets
                 pengakuannya            (330.337.347)                  (6.955.729)          (1.835.273)        (104.197.618)       (443.325.967)           derecognised
               Aset keuangan yang                                                                                                                         Written-off financial
                 dihapusbuku                  (92.489)                      (96.318)       (14.322.202)           (2.372.931)         (16.883.940)                  assets
               Kerugian modifikasi                                                                                                                       Losses on modifying
                 arus kas kredit yang                                                                                                                        cash flows of
                 diberikan                          -                               -        (3.426.979)                     -         (3.426.979)                   loans

               Total penambahan/                                                                                                                               Total increase/
                 (penurunan)                                                                                                                                    (decrease)
                 tahun berjalan                 133.577.676             (3.006.835)        (20.614.817)          35.918.982          145.875.006            during the year

               Saldo akhir tahun                861.614.135            85.390.165            18.888.528         206.207.005        1.172.099.833              Ending balance

               *)    Tidak menerapkan PSAK 71                                                              *)     Not implement SFAS 71

               Berikut adalah perubahan nilai tercatat kredit                                              Following are the changes in the carrying
               yang diberikan dengan klasifikasi nilai wajar                                               amount of loans classified as fair value
               melalui penghasilan komprehensif lain                                                       through other comprehensive income (all
               (semua kredit yang diberikan dengan                                                         loans classified as fair value through other
               klasifikasi nilai wajar melalui penghasilan                                                 comprehensive income are stage 1) for the
               komprehensif lain adalah stage 1) untuk                                                     year ended 31 December 2023 and 2022:
               tahun     yang    berakhir  pada      tanggal
               31 Desember 2023 dan 2022:
                                                                                         2023

                                                                                                   Cadangan
                                                                                                    kerugian
                                                                                                penurunan nilai*)/
                                                                      Nilai tercatat/            Allowance for
                                                                        Carrying                  impairment
                                                                         amount                      losses*)
              Nilai wajar melalui penghasilan                                                                                                    Fair value through
                  komprehensif lain                                                                                                 other comprehensive income
              Saldo awal tahun                                                    500.049                         8.743                           Beginning balance
              Pengukuran kembali                                                  (81.539)                         (814)                            Remeasurement
              Aset keuangan yang                                                                                                      New financial assets originated
                  baru dibeli                                                  2.084.538                          3.928                              or purchased

              Saldo akhir tahun                                                2.503.048                        11.857                                     Ending balance

                                                                                                           *)     Allowance for impairment losses on loans classified as fair
              *)    Cadangan kerugian penurunan nilai pada kredit yang diberikan
                    dengan klasifikasi nilai wajar melalui penghasilan komprehensif                               value through other comprehensive income is recorded in other
                    lain dicatat pada penghasilan komprehensif lain pada pos                                      comprehensive income under equity, because the carrying
                    ekuitas, karena nilai tercatatnya disajikan sebesar nilai wajarnya                            amount is presented at fair value in accordance with Notes
                    sesuai Catatan 2c.(H).(1).                                                                    2c.(H).(1).




                                                                                           188                                                      ANNUAL REPORT 2023            1255
Page 749
            MAIN                               MANAGEMENT                                           COMPANY                                MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                              PROFILE                                ANALYSIS


                                                                PT BANK MANDIRI (PERSERO) Tbk.
                                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                        NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                               FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                         DAN           12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                    (continued)

                A.   Kredit yang diberikan dan piutang/pembiayaan                                           A.   Details of loans and sharia receivables/financing
                     syariah terdiri atas (lanjutan):                                                            (continued):

                     e.   Berdasarkan PSAK 71 (lanjutan):                                                        e.   Based on SFAS 71 (continued):
                                                                                                      2022

                                                                                                                Cadangan
                                                                                                                 kerugian
                                                                                                             penurunan nilai*)/
                                                                                 Nilai tercatat/              Allowance for
                                                                                   Carrying                    impairment
                                                                                    amount                        losses*)
                          Nilai wajar melalui penghasilan                                                                                                 Fair value through
                            komprehensif lain                                                                                                other comprehensive income
                          Saldo awal tahun                                                            -                           -                        Beginning balance
                          Aset keuangan yang                                                                                                   New financial assets originated
                            baru dibeli                                                   1.217.489                        10.691                              or purchased
                          Aset keuangan yang jatuh tempo
                            atau dijual                                                     (717.440)                      (1.948)             Matured or sold financial assets

                          Saldo akhir tahun                                                  500.049                        8.743                                 Ending balance

                                                                                                                      *)   Allowance for impairment losses on loans classified as fair
                          *)   Cadangan kerugian penurunan nilai pada kredit yang diberikan
                               dengan klasifikasi nilai wajar melalui penghasilan komprehensif                             value through other comprehensive income is recorded in other
                               lain dicatat pada penghasilan komprehensif lain pada pos                                    comprehensive income under equity, because the carrying
                               ekuitas, karena nilai tercatatnya disajikan sebesar nilai wajarnya                          amount is presented at fair value in accordance with Notes
                               sesuai Catatan 2c.(H).(1).                                                                  2c.(H).(1).


                          Rasio kredit bermasalah Bank Mandiri dan                                                    The ratio of non-performing loans of Bank
                          Entitas Anak secara gross (sebelum                                                          Mandiri and its Subsidiaries on a gross basis
                          dikurangi cadangan kerugian penurunan                                                       (before deducted with allowance for impairment
                          nilai) pada tanggal 31 Desember 2023 dan                                                    losses) as of 31 December 2023 and 2022 are
                          2022 masing-masing sebesar 1,19% dan                                                        1.19% and 1.92%, respectively (the ratios for
                          1,92% (rasio untuk Bank Mandiri saja                                                        Bank Mandiri only are 1.02% and 1.88% as of
                          masing-masing 1,02% dan 1,88%, masing-                                                      31 December 2023 and 2022, respectively),
                          masing pada tanggal 31 Desember 2023 dan                                                    while the ratio of non-performing loans of Bank
                          2022), sedangkan rasio kredit bermasalah                                                    Mandiri and its Subsidiaries on a net basis as of
                          Bank Mandiri dan Entitas Anak secara neto                                                   31 December 2023 and 2022 are 0.33% and
                          pada tanggal 31 Desember 2023 dan 2022                                                      0.31%, respectively (the ratios for Bank Mandiri
                          masing-masing sebesar 0,33% dan 0,31%                                                       only were 0.29% and 0.26%, as of
                          (rasio untuk Bank Mandiri saja sebesar                                                      31 December 2023 and 2022, respectively).
                          0,29% dan 0,26%, masing-masing pada                                                         The balance of non-performing loans of Bank
                          tanggal 31 Desember 2023 dan 2022). Saldo                                                   Mandiri and its Subsidiaries include consumer
                          kredit bermasalah Bank Mandiri dan Entitas                                                  financing receivables and net investment
                          Anak     termasuk    piutang  pembiayaan                                                    finance leases of the Subsidiaries.
                          konsumen dan investasi bersih dalam sewa
                          pembiayaan dari Entitas Anak.

                          Perhitungan rasio kredit bermasalah Bank                                                    The calculation of non-performing loans ratio
                          Mandiri dan Entitas Anak pada tanggal                                                       for Bank Mandiri and its Subsidiaries as of
                          31 Desember 2023 dan 2022 sesuai dengan                                                     31 December 2023 and 2022 are in
                          Surat Edaran Otoritas Jasa Keuangan                                                         accordance with Financial Services Authority
                          (SEOJK) No. 43/SEOJK.03/2016 tanggal                                                        Circular Letter No. 43/SEOJK.03/2016 dated
                          28 September 2016 tentang Transparansi                                                      28 September 2016 regarding Transparency
                          dan Publikasi Laporan Bank Umum                                                             and Publication of Conventional Commercial
                          Konvensional yang diubah terakhir dengan                                                    Bank Reports, last amended with Financial
                          SEOJK       No. 9/SEOJK.03/2020     tanggal                                                 Services Authority Circular Letter No.
                          30 Juni 2020 tentang Transparansi dan                                                       9/SEOJK.03/2020 dated 30 June 2020 which is
                          Publikasi      Laporan     Bank      Umum                                                   calculated from the loan amount, excluding loan
                          Konvensional, dihitung atas dasar jumlah                                                    to other banks amounted to Rp8,417,111 and
                          kredit tidak termasuk kredit yang diberikan                                                 Rp6,769,326 as of 31 December 2023 and
                          pada bank lain sebesar Rp8.417.111 dan                                                      2022, respectively.
                          Rp6.769.326 masing-masing pada tanggal
                          31 Desember 2023 dan 2022.




1256 PT Bank Mandiri (Persero) Tbk                                                                        189
Page 750
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                       LAPORAN
                                                                                                                 Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                                 KEUANGAN   2023
                                                                                                                 Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                   DAN       12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                          (continued)

    B.   Berikut adalah informasi penting lainnya                     B.    Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                        sharia receivables/financing:
         piutang/pembiayaan syariah:

         a.   Termasuk di dalam kredit yang diberikan                       a.    Included      in     loans     are   sharia
              adalah piutang/pembiayaan berdasarkan                               receivables/financing granted by Subsidiary
              prinsip syariah yang diberikan oleh Entitas                         amounted        to     Rp237,907,537   and
              Anak          masing-masing        sebesar                          Rp206,207,005 as of 31 December 2023 and
              Rp237.907.537 dan Rp206.207.005 pada                                2022, respectively which consist of:
              tanggal 31 Desember 2023 dan 2022, terdiri
              atas:

                                                     2023                        2022

              Piutang murabahah                     136.503.096               124.873.356                  Murabahah receivables
              Pembiayaan musyarakah dan                                                              Musyarakah and mudharabah
                mudharabah                           90.097.330                  71.631.908                            financing
              Pembiayaan syariah lainnya                                                                    Other sharia financing
                (termasuk pinjaman qardh)            11.307.111                   9.701.741           (including funds of qardh)

              Total                                 237.907.537               206.207.005                                     Total
              Dikurangi: cadangan kerugian                                                                      Less: allowance for
                penurunan nilai                       (9.675.229)                (9.186.762)                   impairment losses

              Neto                                  228.232.308               197.020.243                                          Net


         b.   Tingkat suku bunga rata-rata (yield) dan                      b.    Average interest rates (yield) and range of profit
              kisaran bagi hasil per tahun adalah sebagai                         sharing per annum are as follows:
              berikut:

                                                     2023                        2022

              Tingkat suku bunga rata-rata                                                                   Average interest rates
                  (yield) per tahun:                                                                          (yield) per annum:
                  Rupiah                                    8,50%                       8,37%                             Rupiah
                  Mata uang asing                                                                             Foreign currencies
                     (disetarakan dalam                                                                          (equivalent to
                     Rupiah)                                6,79%                       4,45%                          Rupiah)

              Kisaran bagi hasil per tahun:                                                     Range of profit sharing per annum:
                  Piutang murabahah              1,04% - 10,37%            0,03% - 11,58%               Murabahah receivables
                  Pembiayaan musyarakah          2,12% - 14,17%            2,10% - 8,08%                  Musyarakah financing
                  Pembiayaan syariah lainnya     4,01% - 14,05%            7,94% - 10,59%                 Other sharia financing

         c.   Agunan kredit                                                 c.    Loan collaterals

              Kredit yang diberikan        dan piutang/                           Loans and sharia receivables/financing are
              pembiayaan syariah pada umumnya dijamin                             generally secured by pledged collateral bound
              dengan agunan yang diikat dengan hak                                with powers of attorney in respect of the rights
              tanggungan atau surat kuasa untuk menjual,                          to sell, time deposits or other collateral
              deposito berjangka atau jaminan lain yang                           acceptable by Bank Mandiri and its
              dapat diterima oleh Bank Mandiri dan Entitas                        Subsidiaries. Deposits from customers and
              Anak. Simpanan nasabah dan simpanan dari                            deposits from other banks that were pledged
              bank lain yang dijadikan jaminan tunai untuk                        as cash collateral for loans and blocked for
              kredit yang diberikan dan diblokir untuk                            other purposes as of 31 December 2023 and
              tujuan lain pada tanggal 31 Desember 2023                           2022 amounted to Rp82,768,773 and
              dan 2022 adalah masing-masing sebesar                               Rp64,356,878, respectively (Note 21c, 22c,
              Rp82.768.773 dan Rp64.356.878 (Catatan                              23e, 24c and 26d).
              21c, 22c, 23e, 24c dan 26d).




                                                                    190                                         ANNUAL REPORT 2023       1257
Page 751
            MAIN                        MANAGEMENT                        COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                       ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                    DAN      12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                          (continued)

                B.   Berikut adalah informasi penting lainnya                  B.   Other significant information related to loans and
                     sehubungan dengan kredit yang diberikan dan                    sharia receivables/financing (continued):
                     piutang/pembiayaan syariah (lanjutan):

                     d.   Kredit program pemerintah                                 d.   Government program loans

                          Kredit program pemerintah terdiri dari kredit                  Government program loans consists of
                          investasi, kredit modal kerja permanen,                        investment loans, permanent working capital
                          kredit modal kerja dan KPR Sejahtera                           loans, working capital loans and Liquidity
                          Fasilitas Likuiditas Pembiayaan Perumahan                      Facility of House Financing (FLPP) which can
                          (“FLPP”),     dimana    Pemerintah     dapat                   be partially and/or fully funded by the
                          menyediakan          sebagian      dan/atau                    Government.
                          keseluruhan dananya.

                          Dalam rangka percepatan Pemulihan                              In order to accelerate National Economic
                          Ekonomi Nasional pada tahun 2020, Bank                         Recovery Program on 2020, the Bank
                          berpartisipasi dalam penyaluran kredit                         participates in lending in the National
                          program Pemulihan Ekonomi Nasional                             Economic Recovery (“PEN”) program in
                          (“PEN”) sesuai dengan Peraturan Menteri                        accordance with Ministry of Finance
                          Keuangan Nomor 70/PMK.05/2020 yang                             Regulation No. 70/PMK.05/2020 which was
                          selanjutnya diperbaharui dengan PMK No.                        subsequently        updated      with    PMK
                          104/PMK.05/2020 tanggal 6 Agustus 2020.                        No. 104/PMK.05/2020 dated 6 August 2020.
                          Program penyaluran kredit dalam rangka                         The credit disbursement program of PEN,
                          PEN tersebut bersumber dari Penempatan                         funded from the Government's placement
                          Uang Negara kepada perbankan salah                             which one of them is in PT Bank Mandiri
                          satunya di PT Bank Mandiri (Persero) Tbk.,                     (Persero) Tbk, in the form of time deposits
                          dalam bentuk deposito dengan tenor 3 bulan                     with 3 months tenor contract amounted to
                          sebesar Rp10.000.000 pada tanggal 25 Juni                      Rp10,000,000 on 25 June 2020. The
                          2020. Dana Pemerintah tersebut telah                           Government Fund has been distributed in form
                          disalurkan dalam bentuk kredit sebesar                         of loan amounted to Rp39,043,255 until
                          Rp39.043.255 sampai dengan tanggal jatuh                       maturity date of time deposit on 25 September
                          tempo deposito pada 25 September 2020,                         2020 and the funds was returned to
                          dan selanjutnya dana dikembalikan ke                           Government.
                          Pemerintah.

                          Berdasarkan evaluasi dan proposal PT Bank                      Based on PT Bank Mandiri (Persero) Tbk.’s
                          Mandiri (Persero) Tbk., dan sesuai Peraturan                   evaluation and proposal, and in accordance to
                          Menteri Keuangan Nomor 104/PMK.05/2020,                        PMK No. 104/PMK.05/2020, the Government
                          Pemerintah melakukan Penempatan Dana                           conducted the Phase II of Placement of
                          Pemerintah Tahap II kepada perbankan                           Government Funds for banks, one of which
                          salah satunya PT Bank Mandiri (Persero)                        was PT Bank Mandiri (Persero) Tbk., in form
                          Tbk., dalam bentuk deposito dengan tenor                       of time deposit with placement period of
                          110 hari, sebesar Rp15.000.000 pada                            110 days, amounted to Rp15,000,000 on
                          tanggal 25 September 2020, yang telah                          25 September 2020, and the funds has been
                          disalurkan dalam bentuk kredit akumulatif                      distributed in form of loan with accumulative
                          sebesar Rp66.634.884 sampai dengan                             amounted to Rp66,634,884 until maturity date
                          tanggal jatuh tempo deposito pada 13                           of time deposit on 13 January 2021. The
                          Januari     2021.     Penempatan       Dana                    Governments placement Phase II has ended
                          Pemerintah Tahap II tersebut telah berakhir                    and the fund was returned to Government on
                          dan telah dikembalikan kepada Pemerintah                       13 January 2021.
                          pada tanggal 13 Januari 2021.




1258 PT Bank Mandiri (Persero) Tbk                                           191
Page 752
     CORPORATE                   ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
     GOVERNANCE                  & PRACTICES                 RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                   DAN     12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                        (continued)

    B.   Berikut adalah informasi penting lainnya               B.   Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                 sharia receivables/financing (continued):
         piutang/pembiayaan syariah (lanjutan):

         d.   Kredit program pemerintah (lanjutan)                   d.   Government program loans (continued)

              Bank Mandiri juga berperan aktif dalam                      Bank Mandiri also plays an active role in
              penyaluran kredit dengan penjaminan kredit                  lending with Micro, Small and Medium
              UMKM dari pemerintah sesuai PMK                             Enterprises (“MSME”) credit guarantees from
              No. 71/PMK.08/2020 tanggal 23 Juni 2020.                    the government in accordance with PMK
              Penjaminan pemerintah melalui badan                         No. 71/PMK.08/2020 dated 23 June 2020.
              usaha penjaminan, yaitu melalui PT Jaminan                  Government      guarantees     are      through
              Kredit Indonesia dan PT Asuransi Kredit                     guarantee business entities, namely through
              Indonesia. Hingga 30 November 2021,                         PT Jaminan Kredit Indonesia and PT Asuransi
              penyaluran      kredit  UMKM        dengan                  Kredit Indonesia. As of 30 November 2021,
              penjaminan kredit dari pemerintah ini                       MSME loan disbursement with credit
              disalurkan kepada 13.352 debitur UMKM                       guarantees from the government was
              dengan nilai pencairan kredit sebesar                       distributed to 13,352 MSME debtors with a
              Rp2,84 triliun.                                             credit disbursement value of Rp2.84 trillion.

              Pada tahun 2022, program penjaminan                         In 2022, the MSME loan guarantee program
              kredit UMKM dari pemerintah tersebut                        from the government will continue its
              dilanjutkan penyalurannya sesuai PMK No.                    distribution in accordance with PMK
              28/PMK.08/2022 tanggal 30 Maret 2022.                       No. 28/PMK.08/2022 dated 30 March 2022.
              Hingga 31 Desember 2022, penyaluran                         Until 31 December 2022, MSME loan
              kredit UMKM dengan penjaminan kredit dari                   distribution with credit guarantees from the
              pemerintah ini disalurkan kepada 3.030                      government is distributed to 3,030 MSME
              debitur UMKM dengan nilai pencairan kredit                  debtors with a value of loan disbursement of
              sebesar Rp148,66 miliar.                                    Rp148.66 billion.

         e.   Kredit sindikasi                                       e.   Syndication loans

              Kredit sindikasi merupakan kredit yang                      Syndication loans represent loans granted to
              diberikan kepada debitur melalui perjanjian                 debtors through joint financing agreements
              pembiayaan bersama dengan bank-bank lain                    with other banks. The total percentage share
              sebagai kreditur. Selain sebagai kreditur,                  of Bank Mandiri as lead arranger in
              bank juga dapat berperan sebagai agen                       syndication loans as creditor. Apart from being
              (agen fasilitas, agen jaminan, agen                         creditor, the Bank also act as an agent (facility
              penampungan) yang menjalankan fungsi                        agent, guarantee agent, shelter agent) which
              administratif untuk kepentingan seluruh                     operates administrative function for all of
              kreditur dan debitur.                                       creditors and debtors’ interest.

              Pada tanggal 31 Desember 2023 dan 2022,                     As of 31 December 2023 and 2022, the
              jumlah persentase pembiayaan Bank Mandiri                   percentage of Bank Mandiri financing as a
              yang berperan sebagai kreditur dan agen                     creditor and facility agent is between 1.21% to
              fasilitas adalah masing-masing berkisar                     98.02% and 1.31% to 99.00% from total
              antara 1,21% sampai dengan 98,02% dan                       participation of Bank Mandiri in syndication
              1,31% sampai dengan 99,00% dari jumlah                      loans. While the percentage of Bank Mandiri
              total keikutsertaan Bank Mandiri pada kredit                financing as syndication member as of
              sindikasi. Sementara jumlah persentase                      31 December 2023 and 2022 is between
              pembiayaan Bank Mandiri yang berperan                       0.15% to 62.50% and 1.12% to 74.26% from
              hanya sebagai anggota sindikasi pada                        total participation of Bank Mandiri in
              tanggal 31 Desember 2023 dan 2022 adalah                    syndication loans.
              masing-masing berkisar antara 0,15%
              sampai dengan 62,50% dan 1,12% sampai
              dengan 74,26% dari jumlah keseluruhan
              keikutsertaan Bank Mandiri pada kredit
              sindikasi.




                                                              192                                      ANNUAL REPORT 2023     1259
Page 753
            MAIN                             MANAGEMENT                                       COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                                          PROFILE                                   ANALYSIS


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                    DAN          12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                              (continued)

                B.   Berikut adalah informasi penting lainnya                                      B.   Other significant information related to loans and
                     sehubungan dengan kredit yang diberikan dan                                        sharia receivables/financing (continued):
                     piutang/pembiayaan syariah (lanjutan):

                     f.   Kredit yang direstrukturisasi                                                 f.     Restructured loans

                          Berikut ini adalah jenis dan jumlah kredit                                           Below are the types and amounts of
                          yang diberikan dan piutang/pembiayaan                                                restructured       loans     and      sharia
                          syariah yang telah direstrukturisasi pada                                            receivables/financing and as of 31 December
                          tanggal 31 Desember 2023 dan 2022:                                                   2023 and 2022:

                                                                                 2023                        2022

                          Perpanjangan jangka waktu                                                                                          Extension of loan maturity
                            kredit                                               67.782.195                   78.995.530                                        dates
                          Perpanjangan jangka waktu dan                                                                                Extension of loan maturity dates
                            penurunan suku bunga kredit                             2.633.310                        915.936           and reduction of interest rates
                          Perpanjangan jangka waktu                                                                                          Extension of loan maturity
                            kredit dan skema                                                                                            dates and other restructuring
                            restrukturisasi lain-lain*)                          26.569.121                   45.623.774                                   schemes*)

                          Total**)                                               96.984.626                  125.535.240                                                     Total**)

                          *)    Skema restrukturisasi lain-lain terutama terdiri dari skema                    *)      Other restructuring schemes mainly involve reduction of
                                restrukturisasi penurunan suku bunga kredit, penjadwalan                               interest rates, rescheduling of unpaid interest and extension of
                                kembali bunga yang tertunggak dan perpanjangan jangka                                  repayment periods for unpaid interest.
                                waktu pembayaran bunga tertunggak.
                          **)   Termasuk baki debet kredit restrukturisasi Covid-19 per                        **)     Including the Covid-19 restructuring credit outstanding balance
                                tanggal 31 Desember 2023 dan 2022 adalah masing-masing                                 as of 31 December 2023 and 2022, amounted to
                                sebesar Rp25.967.069 dan Rp50.704.100.                                                 Rp25,967,069 and Rp50,704,100, respectively.


                          Berikut ini adalah jumlah kredit yang                                                Below are the amount of restructured loans
                          diberikan dan piutang/pembiayaan syariah                                             and sharia receivables/financing based on
                          yang telah direstrukturisasi berdasarkan                                             collectability as of 31 December 2023 and
                          kolektibilitas pada tanggal 31 Desember                                              2022:
                          2023 dan 2022:

                                                                                 2023                        2022

                          Lancar                                                 48.610.295                   72.521.126                                                Current
                          Dalam Perhatian Khusus                                 38.001.553                   34.618.352                                        Special mention
                          Kurang Lancar                                           1.967.382                    2.015.712                                          Substandard
                          Diragukan                                               3.201.907                    5.001.561                                               Doubtful
                          Macet                                                   5.203.489                   11.378.489                                                  Loss

                          Total*)                                                96.984.626                  125.535.240                                                      Total*)

                          *)    Termasuk baki debet kredit restrukturisasi Covid-19 per                        *)      Including the Covid-19 restructuring credit outstanding balance
                                tanggal 31 Desember 2023 dan 2022 adalah masing-masing                                 as of 31 December 2023 and 2022, amounted to
                                sebesar Rp25.967.069 dan Rp50.704.100.                                                 Rp25,967,069 and Rp50,704,100, respectively.



                          Total     kredit   yang    diberikan   dan                                           Total    restructured   loans  and   sharia
                          piutang/pembiayaan syariah yang telah                                                receivables/financing under non-performing
                          direstrukturisasi dan dalam kategori kredit                                          loans (“NPL”) category as of 31 December
                          bermasalah pada tanggal 31 Desember                                                  2023 and 31 December 2022 are amounted to
                          2023 dan 2022 masing-masing sebesar                                                  Rp10,372,778          and     Rp18,395,762,
                          Rp10.372.778 dan Rp18.395.762.                                                       respectively.



1260 PT Bank Mandiri (Persero) Tbk                                                               193
Page 754
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                       DAN   12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                          (continued)
    B.   Berikut adalah informasi penting lainnya                 B.   Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                   sharia receivables/financing (continued):
         piutang/pembiayaan syariah (lanjutan):
         f.   Kredit yang direstrukturisasi (lanjutan)                 f.   Restructured loans (continued)

              Grup telah melakukan restrukturisasi kredit                   The Group has restructured credit for debtors
              untuk debitur yang terdampak pandemi                          affected by the Covid-19 pandemic in
              Covid-19      sesuai     dengan      POJK                     accordance with POJK No. 11/POJK.03/2020
              No. 11/POJK.03/2020 tentang “Stimulus                         regarding "National Economic Stimulus as a
              Perekonomian Nasional Sebagai Kebijakan                       Countercyclical Policy for the Impact of the
              Countercyclical    Dampak       Penyebaran                    Spread of the 2019 Coronavirus Disease"
              Coronavirus Disease 2019” tanggal 13 Maret                    dated 13 March 2020 as amended twice by
              2020 sebagaimana telah diubah dua kali                        POJK No. 48/POJK.03/2020 regarding
              melalui POJK No. 48/POJK.03/2020 tentang                      "National     Economic      Stimulus    as   a
              Stimulus Perekonomian Nasional Sebagai                        Countercyclical Policy for the Impact of the
              Kebijakan       Countercyclical    Dampak                     Spread of the 2019 Coronavirus Disease"
              Penyebaran Coronavirus Disease 2019                           dated 1 December 2020 and POJK No.
              tanggal 1 Desember 2020 dan POJK No.                          17/POJK.03/2021          regarding      Second
              17/POJK.03/2021 tentang Perubahan Kedua                       Amendment of POJK No.11/POJK/03/2020
              Atas POJK Nomor 11/POJK.03/2020 tentang                       regarding National Economic Stimulus as
              Stimulus Perekonomian Nasional Sebagai                        Countercyclical for the Impact of the Spread of
              Kebijakan       Countercyclical    Dampak                     Coronavirus Disease on 10 September 2021.
              Penyebaran Coronavirus Disease 2019                           As of 31 December 2023 and 2022, the
              tanggal 10 September 2021. Pada tanggal                       balances for the Covid-19 restructuring credit
              31 Desember 2023 dan 2022, baki debet                         are    Rp25,967,069       and    Rp50,704,100,
              kredit restrukturisasi Covid-19 masing-                       respectively.
              masing    sebesar     Rp25.967.069     dan
              Rp50.704.100.
         g.   Kredit      yang      diberikan     dan                  g.   Loans and sharia receivables/financing to
              piutang/pembiayaan syariah kepada pihak                       related parties
              berelasi
              Total    kredit   yang     diberikan   dan                    Total loans and sharia receivables/financing to
              piutang/pembiayaan syariah kepada pihak                       related parties and its percentage to the total
              berelasi dan persentase terhadap total aset                   consolidated assets are disclosed in Note 56.
              konsolidasian diungkapkan pada Catatan 56.
              Termasuk dalam kredit yang diberikan                          Loans to related parties include loans to Bank
              kepada pihak berelasi adalah kredit yang                      Mandiri key employees. The loans to Bank
              diberikan kepada karyawan kunci Bank                          Mandiri key employees consist of interest-
              Mandiri. Kredit yang diberikan kepada                         bearing amounted to 7.77% per annum which
              karyawan kunci Bank Mandiri terdiri dari                      are intended for the acquisition of vehicles
              kredit dengan rata-rata tingkat suku bunga                    and/or houses, and are repayable within 1
              sebesar 7,77% per tahun yang digunakan                        (one) to 28 (twenty eight) years through
              untuk membeli kendaraan bermotor dan/atau                     monthly payroll deductions.
              rumah dengan jangka waktu 1 (satu) sampai
              28 (dua puluh delapan) tahun yang dibayar
              melalui pemotongan gaji karyawan setiap
              bulan.
         h.   Batas Maksimum Pemberian Kredit (BMPK)                   h.   Legal Lending Limit (LLL)
              Pada tanggal 31 Desember 2023 dan 2022,                       Regarding the Legal Lending Limit (LLL) on
              Bank tidak melanggar dan melampaui                            31 December 2023 and 2022, the Bank did
              ketentuan BMPK untuk pihak terkait dan                        not violate and exceeded the LLL provisions
              pihak tidak terkait. BMPK dihitung sesuai                     for related parties and non-related parties. LLL
              dengan Peraturan Otoritas Jasa Keuangan -                     is calculated in accordance with Financial
              POJK     No.    38/POJK.03/2019   tanggal                     Services Authority Regulation - POJK
              19 Desember 2019 tentang Perubahan Atas                       No. 38/POJK.03/2019 dated 19 December
              Peraturan Otoritas Jasa Keuangan Nomor                        2019 regarding Legal Lending Limits for
              32/POJK.03/2018 tentang Batas Maksimum                        Commercial Banks as amended by POJK
              Pemberian Kredit dan Penyediaan Dana                          No.     32/POJK.03/2018      regarding     Legal
              Besar Bagi Bank Umum.                                         Lending Limits of Loans and Funding for
                                                                            Commerical Banks.
         i.   Bank Mandiri memiliki sejumlah perjanjian                i.   Bank Mandiri has several channeling loan
              penerusan kredit dengan lembaga keuangan                      agreements with several international financial
              internasional (Catatan 61).                                   institutions (Note 61).



                                                                194                                      ANNUAL REPORT 2023    1261
Page 755
            MAIN                                  MANAGEMENT                                         COMPANY                                     MANAGEMENT DISCUSSION &
            HIGHLIGHTS                            REPORTS                                            PROFILE                                     ANALYSIS


                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                          DAN           12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                                     (continued)
                B.   Berikut adalah informasi penting lainnya                                              B.     Other significant information related to loans and
                     sehubungan dengan kredit yang diberikan dan                                                  sharia receivables/financing (continued):
                     piutang/pembiayaan syariah (lanjutan):
                     j.        Mutasi cadangan kerugian penurunan nilai                                           j.     Movements of allowance for impairment losses on
                               kredit     yang        diberikan   dan                                                    loans and sharia receivables/financing
                               piutang/pembiayaan syariah

                                                                                        2023                           2022

                          Saldo awal tahun1)                                            64.612.645                      68.588.680                                Beginning balance1)
                          Pembentukan selama                                                                                                                     Allowance during the
                             tahun berjalan                                                                                                                                    year
                             (Catatan 46)                                                9.788.587                       15.442.378                                       (Note 46)
                          Penghapusbukuan2)                                           (20.871.629)                     (16.883.940)                                       Write-offs2)
                          Lain-lain*)                                                    (430.984)                      (2.534.473)                                          Others*)
                          Saldo akhir tahun3)                                           53.098.619                      64.612.645                                     Ending balance3)

                          *)        Termasuk selisih kurs karena penjabaran mata uang asing dan                          *)      Included effect of foreign currency translation and implication
                                    pengakuan pendapatan bunga atas bagian yang tidak                                            from interest income recognised on the non-impaired portion of
                                    mengalami penurunan nilai dari kredit yang mengalami                                         the impaired loans (Note 41).
                                    penurunan nilai (Catatan 41).
                          1)        Saldo awal 31 Desember 2023 dan 2022 masing-masing                                   1)      Beginning balance as of 31 December 2023 and 2022 is
                                    sebesar Rp39.161.899 dan Rp46.023.479 yang dihitung                                          amounted to Rp39,161,899 and Rp46,023,479, respectively,
                                    secara individual dan Rp25.450.746 dan Rp22.565.201 yang                                     which were calculated using individual assessment and
                                    dihitung secara kolektif.                                                                    Rp25,450,746 and Rp22,565,201, respectively, which were
                          2)        Penghapusbukuan pada tanggal 31 Desember 2023 dan 2022                                       calculated using collective assessment.
                                    masing-masing sebesar Rp10.014.928 dan Rp8.467.647 untuk                             2)      Write-off as of 31 December 2023 and 2022 is amounted to
                                    debitur yang dievaluasi secara individual dan Rp10.856.701                                   Rp10,014,928 and Rp8,467,647, respectively, which are
                                    dan Rp8.416.293 untuk debitur yang dievaluasi secara kolektif.                               calculated using individual assessment and Rp10,856,701 and
                                                                                                                                 Rp8,416,293, respectively, which are calculated using
                                                                                                                                 collective assessment.
                          3)        Saldo akhir pada tanggal 31 Desember 2023 dan 2022 terdiri                           3)      Ending balance as of 31 December 2023 and 2022, is
                                    dari Rp26.502.710 dan Rp39.161.899 yang dihitung secara                                      amounted to Rp26,502,710 and Rp39,161,899, respectively,
                                    individual dan Rp26.595.909 dan Rp25.450.746 yang dihitung                                   which were calculated using individual assessment and
                                    secara kolektif.                                                                             Rp26,595,909 and Rp25,450,746, respectively, which were
                                                                                                                                 calculated using collective assessment.

                                                                                                          2023
                                                                                                                               Syariah*)/
                                                              Stage 1              Stage 2              Stage 3                 Sharia*)               Total

                               Saldo awal tahun                12.334.510           27.535.018           15.556.355               9.186.762           64.612.645            Beginning balance
                               Pengalihan ke/(dari):                                                                                                                       Transfer to/(from):
                               - Kerugian kredit                                                                                                                       12 months expected -
                                  ekspektasian 12 bulan                                                                                                                     credit losses
                                  (stage 1)                1.040.068                  (782.859)           (257.209)                          -                     -           (stage 1)
                               - Kerugian kredit
                                  ekspektasian sepanjang                                                                                                                  Lifetime expected -
                                  umurnya - tidak                                                                                                                             credit losses
                                  mengalami penurunan                                                                                                                         - unimpaired
                                  nilai (stage 2)        (1.147.513)                 1.710.658            (563.145)                          -                     -              (stage 2)
                               - Kerugian kredit
                                  ekspektasian sepanjang                                                                                                                  Lifetime expected -
                                  umurnya - mengalami                                                                                                                         credit losses
                                  penurunan                                                                                                                                      - impaired
                                  nilai (stage 3)            (63.955)               (9.212.451)           9.276.406                          -                     -               (stage 3)
                               Total saldo awal setelah                                                                                                                Total beginning balance
                                 pengalihan                    12.163.110           19.250.366           24.012.407               9.186.762           64.612.645               after transfer
                               Pengukuran kembali bersih                                                                                                                Net remeasurement of
                                 penyisihan kerugian     (2.864.358)                (2.877.180)           9.575.956                 611.782             4.446.200         losses allowance
                               Aset keuangan baru yang                                                                                                                   New financial assets
                                 diterbitkan atau                                                                                                                             originated or
                                 dibeli                    4.811.944                 3.067.776              828.217               2.513.931           11.221.868                purchased
                               Aset keuangan yang
                                 dihentikan                                                                                                                                   Financial assets
                                 pengakuannya            (1.887.053)                (3.453.097)           (539.331)                         -         (5.879.481)             derecognised
                               Total pembentukan/                                                                                                                            Total allowance/
                                  (pembalikan)                                                                                                                                   (reversal)
                                  tahun berjalan                    60.533          (3.262.501)           9.864.842               3.125.713             9.788.587           during the year
                               Aset keuangan yang
                                  dihapusbuku                    (166.419)            (189.101)         (17.885.463)            (2.630.646)          (20.871.629)            Written-off assets
                               Unwinding interest                        -                    -            (319.605)                      -             (319.605)           Unwinding interest
                               Lain-lain                          (14.284)             (42.383)             (48.112)                (6.600)             (111.379)                        Others
                               Saldo akhir tahun               12.042.940           15.756.381           15.624.069               9.675.229           53.098.619              Ending balance

                               *)   Tidak menerapkan PSAK 71                                                              *)     Not implement SFAS 71




1262 PT Bank Mandiri (Persero) Tbk                                                                      195
Page 756
     CORPORATE                       ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                            LAPORAN
                                                                                                                                 Financial
     GOVERNANCE                      & PRACTICES                           RESPONSIBILITY                                      KEUANGAN   2023
                                                                                                                                 Statements 2023


                                               PT BANK MANDIRI (PERSERO) Tbk.
                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                             DAN         12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                      (continued)

    B.   Berikut adalah informasi penting lainnya                             B.      Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                                  sharia receivables/financing (continued):
         piutang/pembiayaan syariah (lanjutan):

         j.   Mutasi cadangan kerugian penurunan nilai                                j.   Movements of allowance for impairment
              kredit     yang        diberikan      dan                                    losses      on      loans      and sharia
              piutang/pembiayaan syariah (lanjutan)                                        receivables/financing (continued)

                                                                              2022
                                                                                                Syariah*)/
                                          Stage 1           Stage 2         Stage 3              Sharia*)             Total

              Saldo awal tahun            11.792.422        29.325.283       20.094.001            7.376.974         68.588.680          Beginning balance

              Pengalihan ke/(from):                                                                                                     Transfer to/(from):
              - Kerugian kredit                                                                                                     12 months expected -
                 ekspektasian 12 bulan                                                                                                   credit losses
                 (stage 1)                      978.647       (610.172)        (368.475)                     -                 -            (stage 1)
              - Kerugian kredit
                 ekspektasian sepanjang                                                                                                Lifetime expected -
                 umurnya - tidak                                                                                                           credit losses
                 mengalami penurunan                                                                                                       - unimpaired
                 nilai (stage 2)               (999.756)     1.223.022         (223.266)                     -                 -               (stage 2)
              - Kerugian kredit
                 ekspektasian sepanjang                                                                                                Lifetime expected -
                 umurnya - mengalami                                                                                                       credit losses
                 penurunan                                                                                                                    - impaired
                 nilai (stage 3)               (126.296)     (6.975.955)      7.102.251                          -             -                (stage 3)

              Total saldo awal setelah                                                                                              Total beginning balance
                pengalihan                11.645.017        22.962.178       26.604.511            7.376.974         68.588.680             after transfer

              Pengukuran kembali bersih                                                                                              Net remeasurement of
                penyisihan kerugian           (2.192.491)    4.273.379        6.771.491             363.978           9.216.357        losses allowance
              Aset keuangan baru yang                                                                                                 New financial assets
                diterbitkan atau                                                                                                           originated or
                dibeli                        4.809.749      1.290.166         985.892             3.772.810         10.858.617              purchased
              Aset keuangan yang
                dihentikan                                                                                                                 Financial assets
                pengakuannya                  (1.952.246)    (1.668.022)     (1.012.328)                     -        (4.632.596)          derecognised

              Total pembentukan                                                                                                            Total allowance
                 tahun berjalan                 665.012      3.895.523        6.745.055            4.136.788         15.442.378          during the year
              Aset keuangan yang
                 dihapusbuku                    (92.489)       (96.318)     (14.322.202)          (2.372.931)        (16.883.940)         Written-off assets
              Unwinding interest                      -              -         (294.592)                   -            (294.592)        Unwinding interest
              Lain-lain                         116.970        773.635       (3.176.417)              45.931          (2.239.881)                     Others

              Saldo akhir tahun           12.334.510        27.535.018       15.556.355            9.186.762         64.612.645           Ending balance

              *)   Tidak menerapkan PSAK 71                                                *)     Not implement SFAS 71


              Manajemen berpendapat bahwa jumlah                                           Management believes that the allowance for
              cadangan kerugian penurunan nilai kredit                                     impairment losses on loans and sharia
              yang diberikan dan piutang/pembiayaan                                        receivables/financing is adequate.
              syariah telah memadai.




                                                                            196                                                    ANNUAL REPORT 2023          1263
Page 757
            MAIN                        MANAGEMENT                      COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                         PROFILE                          ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                   DAN      12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                         (continued)

                B.   Berikut adalah informasi penting lainnya                   B.   Other significant information related to loans and
                     sehubungan dengan kredit yang diberikan dan                     sharia receivables/financing (continued):
                     piutang/pembiayaan syariah (lanjutan):

                     k.   Ikhtisar  kredit   yang   diberikan   dan                  k.    Summary of non-performing loans and sharia
                          piutang/pembiayaan syariah bermasalah                            receivables/financing based on economic
                          berdasarkan sektor ekonomi dan minimum                           sector and the minimum allowance for loans
                          penyisihan kerugian kredit yang diberikan                        and sharia receivables/financing impairment
                          dan piutang/pembiayaan syariah bermasalah                        losses are as follows:
                          adalah sebagai berikut:

                                                            Kredit bermasalah (berdasarkan
                                                           Peraturan Otoritas Jasa Keuangan)/
                                                                 Non-performing loans
                                                              (based on Financial Services
                                                                 Authority Regulations)

                                                                 2023                     2022

                          Rupiah                                                                                                    Rupiah
                              Industri                             4.608.282               7.354.314                       Manufacturing
                              Perdagangan, restoran,                                                                Trading, restaurant,
                                dan hotel                          1.860.351               3.828.086                         and hotel
                              Pertanian                            1.279.616                 920.690                          Agriculture
                              Konstruksi                             654.774                 717.495                        Construction
                              Jasa dunia usaha                       316.107                 402.642                   Business service
                              Pengangkutan,                                                                              Transportation,
                                pergudangan, dan                                                                     warehouse, and
                                komunikasi                           152.640               1.622.442                 communications
                              Jasa sosial                             83.658                  62.102                      Social services
                              Tambang                                 22.882                  39.165                              Mining
                              Listrik, gas, dan air                    5.335                  17.606         Electricity, gas, and water
                              Lain-lain                            5.271.578               4.125.978                              Others
                                                                  14.255.223              19.090.520
                          Mata uang asing                                                                               Foreign currencies
                              Industri                             1.538.638               3.100.504                      Manufacturing
                              Listrik, gas, dan air                  333.794                 388.533         Electricity, gas, and water
                              Jasa dunia usaha                         5.842                       -                  Business services
                              Tambang                                      -                  69.010                              Mining
                              Pengangkutan,                                                                              Transportation,
                                pergudangan, dan                                                                   warehousing, and
                                komunikasi                                -                  28.139                  communications
                              Lain-lain                                  94                     100                              Others
                                                                   1.878.368               3.586.286
                          Total                                   16.133.591              22.676.806                                Total




1264 PT Bank Mandiri (Persero) Tbk                                             197
Page 758
     CORPORATE                  ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                            Financial
     GOVERNANCE                 & PRACTICES                   RESPONSIBILITY                              KEUANGAN   2023
                                                                                                            Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                   DAN      12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                         (continued)

    B.   Berikut adalah informasi penting lainnya                   B.   Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                     sharia receivables/financing (continued):
         piutang/pembiayaan syariah (lanjutan):

         k.   Ikhtisar  kredit   yang      diberikan dan                 k.    Summary of non-performing loans and sharia
              piutang/pembiayaan syariah bermasalah                            receivables/financing based on economic
              berdasarkan sektor ekonomi dan minimum                           sector and the minimum allowance for loans
              penyisihan kerugian kredit yang diberikan                        and sharia receivables/financing impairment
              dan piutang/pembiayaan syariah bermasalah                        losses are as follows (continued):
              adalah sebagai berikut (lanjutan):

              Total minimum penyisihan kerugian kredit                         Total minimum allowance for loans and sharia
              yang diberikan dan piutang/pembiayaan                            receivables/financing impairment losses that is
              syariah yang dihitung berdasarkan atas                           calculated based on non-performing loans and
              kredit     yang         diberikan        dan                     sharia receivables/financing, which is based
              piutang/pembiayaan syariah bermasalah                            on Financial Services Authority Regulations
              berdasarkan definisi Peraturan Otoritas Jasa                     are as follows:
              Keuangan adalah sebagai berikut:

                                                  Minimum penyisihan kerugian)/
                                                      Minimum allowance for
                                                        impairment losses

                                                     2023                     2022

              Rupiah                                                                                                     Rupiah
                  Industri                             3.451.158               5.668.480                        Manufacturing
                  Perdagangan,                                                                                        Trading,
                    restoran, dan hotel                1.088.445               2.973.898             restaurant, and hotel
                  Konstruksi                             539.635                 406.917                        Constructions
                  Pertanian                              495.612                 588.470                           Agriculture
                  Jasa dunia usaha                       210.405                 229.555                   Business services
                  Pengangkutan,                                                                               Transportation,
                    pergudangan, dan                                                                    warehousing, and
                    komunikasi                            75.289               1.566.548                  communications
                  Jasa sosial                             51.046                  47.871                       Social services
                  Tambang                                 12.516                  30.895                               Mining
                  Listrik, gas, dan air                    3.794                   6.238          Electricity, gas, and water
                  Lain-lain                            2.996.400               2.522.209                               Others
                                                       8.924.300              14.041.081
              Mata uang asing                                                                                Foreign currencies
                  Industri                             1.282.530               2.837.778                       Manufacturing
                  Listrik, gas, dan air                   50.069                  58.280          Electricity, gas, and water
                  Jasa dunia usaha                         5.842                       -                    Business service
                  Tambang                                      -                  69.010                               Mining
                  Pengangkutan,                                                                               Transportation,
                    pergudangan, dan                                                                   warehousing, and
                    komunikasi                                -                  28.139                  communications
                  Lain-lain                                  94                      50                               Others
                                                       1.338.535               2.993.257
              Total                                   10.262.835              17.034.338                                 Total




                                                                   198                                     ANNUAL REPORT 2023     1265
Page 759
            MAIN                              MANAGEMENT                                   COMPANY                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                      PROFILE                                 ANALYSIS


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                          (Expressed in millions of Rupiah, unless otherwise stated)


            12. KREDIT     YANG      DIBERIKAN                                 DAN          12. LOANS AND SHARIA RECEIVABLES/FINANCING
                PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                                           (continued)

                B.   Berikut adalah informasi penting lainnya                                   B.   Other significant information related to loans and
                     sehubungan dengan kredit yang diberikan dan                                     sharia receivables/financing (continued):
                     piutang/pembiayaan syariah (lanjutan):

                     l.   Penghapusbukuan kredit macet                                               l.     Written-off of non-performing loans

                          Pada tahun yang berakhir pada tanggal                                           For year ended 31 December 2023 and 2022,
                          31 Desember 2023 dan 2022, Bank Mandiri                                         Bank Mandiri written-off non-performing loans
                          melaksanakan        penghapusbukuan     kredit                                  amounted to Rp17,863,589 and Rp14,285,070
                          macet masing-masing sebesar Rp17.863.589                                        (for Bank Mandiri only), respectively. The
                          dan Rp14.285.070 (Bank Mandiri saja).                                           criteria for loan write-offs are as follows:
                          Adapun     kriteria    debitur   yang   dapat
                          dihapusbukukan meliputi:
                          a. Fasilitas kredit telah digolongkan macet;                                    a.     Loan facility has been classified as non-
                                                                                                                 performing;
                          b.     Fasilitas kredit telah dibentuk cadangan                                 b.     Loan facility has been provided with 100%
                                 kerugian penurunan nilai sebesar 100%                                           (one hundred percent) allowance for
                                 (seratus persen) dari pokok kredit                                              impairment loss from the loan principal;
                                 macetnya;
                          c.     Telah     dilakukan     berbagai     upaya                               c.     Collection and recovery efforts have been
                                 penagihan dan penyelamatan, namun                                               performed, but the result is unsuccessful;
                                 tidak berhasil;
                          d.     Usaha debitur sudah tidak mempunyai                                      d.     The debtors’ business has no prospect or
                                 prospek atau kinerja debitur buruk atau                                         bad performance or they do not have the
                                 tidak ada kemampuan membayar; dan                                               loan repayment ability; and
                          e.     Hapus buku dilakukan terhadap seluruh                                    e.     The write-offs are performed for all loan
                                 kewajiban kreditnya, termasuk yang                                              obligations, including non-cash loan
                                 berasal dari non-cash loan sehingga                                             facilities, and the write-offs shall not be
                                 penghapusbukuan tidak boleh dilakukan                                           written-off partially.
                                 pada sebagian kreditnya (partial write-off).

                     m. Kredit yang dihapusbukukan dicatat di                                        m. Written-off loans are recorded in extra-
                        ekstra-komtabel. Bank terus melakukan                                           comptable. The Bank continues pursuing for
                        usaha-usaha penagihan atas kredit yang                                          collection of the written-off loans. These loans
                        telah   dihapusbukukan.     Kredit  ekstra-                                     are not reflected in the consolidated statement
                        komtabel ini tidak disajikan dalam laporan                                      of    financial position.    A    summary     of
                        posisi keuangan konsolidasian. Ikhtisar                                         movements of extra-comptable loans for the
                        mutasi kredit ekstra-komtabel untuk tahun                                       year ended 31 December 2023 and 2022 are
                        yang berakhir pada tanggal 31 Desember                                          as follows (for Bank Mandiri only):
                        2023 dan 2022 adalah sebagai berikut (Bank
                        Mandiri saja):

                                                                               2023                       2022

                          Saldo awal tahun                                      97.501.028                87.324.011                                   Beginning balance
                          Penghapusbukuan                                       17.863.589                14.285.070                                           Write-offs
                          Penerimaan kembali kredit
                            yang telah dihapusbukukan                                                                                                 Cash recoveries
                            (cash recoveries)                                 (10.134.741)                (6.335.303)                           from written-off loans
                          Lain-lain*)                                             (98.524)                  2.227.250                                            Others*)

                          Saldo akhir tahun                                   105.131.352                 97.501.028                                      Ending balance

                          *)   Merupakan selisih kurs karena penjabaran mata uang asing,                   *)     Represents effect of foreign currency translation, re-recognition
                               pencatatan kembali aset yang dihapusbuku dan lainnya.                              of written off assets and others




1266 PT Bank Mandiri (Persero) Tbk                                                            199
Page 760
     CORPORATE                   ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                              Financial
     GOVERNANCE                  & PRACTICES                     RESPONSIBILITY                             KEUANGAN   2023
                                                                                                              Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


12. KREDIT     YANG      DIBERIKAN                      DAN      12. LOANS AND SHARIA RECEIVABLES/FINANCING
    PIUTANG/PEMBIAYAAN SYARIAH (lanjutan)                            (continued)

    B.   Berikut adalah informasi penting lainnya                      B.   Other significant information related to loans and
         sehubungan dengan kredit yang diberikan dan                        sharia receivables/financing (continued):
         piutang/pembiayaan syariah (lanjutan):

         n.   Kredit yang disalurkan Bank Mandiri dengan                    n. Loans channelled by Bank Mandiri through
              sistem pembiayaan langsung (executing) ke                        direct financing (executing) to multifinance
              perusahaan pembiayaan dan pembiayaan                             company and joint financing mechanism as of
              bersama (joint financing) pada tanggal                           31 December 2023 and 2022 amounted to
              31 Desember 2023 dan 2022 masing-masing                          Rp11,971,089 and Rp9,146,755, respectively.
              sebesar Rp11.971.089 dan Rp9.146.755.

         o.   Nilai tercatat diamortisasi dari kredit yang                  o. The carrying amount of loans and sharia
              diberikan dan piutang/pembiayaan syariah                         receivables/financing at amortised cost are as
              adalah sebagai berikut:                                          follows:

                                                        2023                  2022

              Kredit yang diberikan                                                                                         Loans
                (Catatan 12A)                        1.359.832.195          1.172.599.882                           (Note 12A)
              Bunga yang masih akan                                                                             Accrued interest
                diterima                                  5.123.412             4.130.866                          receivables
              Pendapatan diterima dimuka                                                                      Unearned income
                yang teratribusi                                                                         (directly attributable)
                (Catatan 35)                            (1.023.992)              (885.978)                            (Note 35)
              Cadangan kerugian                                                                                    Allowance for
                penurunan nilai                                                                            impairment losses
                (Catatan 12A.e dan 12B.j)              (53.110.476)           (64.621.388)             (Note 12A.e and 12B.j)

              Total                                  1.310.821.139          1.111.223.382                                  Total


         p.   Pada tanggal homologasi, nilai wajar atas                     p. On the date of homologation, fair value of the
              saldo kredit yang diberikan Bank Mandiri                         outstanding loans from Bank Mandiri to
              kepada PT Garuda Indonesia (Persero) Tbk                         PT Garuda Indonesia (Persero) Tbk (“Garuda”)
              (“Garuda”)       sebagai      dampak        dari                 as a result of the restructuring amounted to
              restrukturisasi adalah sebesar Rp824.771                         Rp824,771 or 20% of the contractual amount.
              atau sebesar 20% dari nilai kontraktual                          This value will be recovered gradually in
              pinjaman. Nilai ini akan terpulihkan secara                      accordance with the accounting concept after
              bertahap sesuai dengan konsep akuntansi                          the restructuring date until the maturity date.
              setelah tanggal restrukturisasi hingga                           Bank Mandiri still has a claim value for loans
              tanggal jatuh tempo. Bank Mandiri tetap                          extended to Garuda of Rp4,220,738 according
              memiliki nilai tagih atas kredit yang diberikan                  to the contractual value of the loan as stated in
              kepada Garuda sebesar Rp4.220.738 sesuai                         the settlement agreement which has been
              nilai kontraktual pinjaman sebagaimana                           homologated by the Commercial Court at the
              tercantum dalam perjanjian perdamaian                            Central Jakarta District Court, thus there is no
              yang telah dihomologasi oleh Pengadilan                          write-off of the principal & deferred interest by
              Niaga pada Pengadilan Negeri Jakarta                             Bank Mandiri against Garuda.
              Pusat, sehingga tidak terdapat penghapusan
              jumlah tagihan pokok & bunga yang
              ditangguhkan      Bank     Mandiri    terhadap
              Garuda.




                                                                      200                                    ANNUAL REPORT 2023     1267
Page 761
            MAIN                       MANAGEMENT                       COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                          ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            13. PIUTANG PEMBIAYAAN KONSUMEN                              13. CONSUMER FINANCING RECEIVABLES

                a.   Rincian dari piutang pembiayaan konsumen                   a.   Details of Subsidiary’s       consumer     financing
                     Entitas Anak adalah sebagai berikut:                            receivables are as follows:

                                                                 2023                  2022

                     Piutang pembiayaan                                                                               Consumer financing
                       konsumen - bruto                           59.389.344           45.821.974                    receivables - gross
                     Dikurangi:                                                                                                      Less:
                     Pendapatan pembiayaan konsumen                                                                  Unearned income on
                       yang belum diakui                        (26.639.548)           (22.064.247)                 consumer financing

                     Total                                        32.749.796           23.757.727                                    Total

                     Dikurangi: cadangan kerugian                                                                     Less: allowance for
                       penurunan nilai                             (713.044)              (610.361)                  impairment losses

                     Neto                                         32.036.752           23.147.366                                      Net


                     Angsuran dari saldo piutang pembiayaan                          Installments of consumer financing receivables -
                     konsumen - bruto per 31 Desember 2023 dan                       gross as of 31 December 2023 and 2022 which will
                     2022 yang akan diterima dari konsumen                           be received from customers based on the maturity
                     berdasarkan tanggal jatuh temponya adalah                       dates are as follows:
                     sebagai berikut:

                                                                 2023                  2022

                     Tahun                                                                                                          Year
                     2023                                         11.223.627           17.404.993                                   2023
                     2024                                         19.907.173           13.705.543                                   2024
                     2025 dan sesudahnya                          28.258.544           14.711.438                           2025 and later

                     Total                                        59.389.344           45.821.974                                    Total

                     Pada tanggal 4 November 2016, Entitas Anak                      On 4 November 2016, Subsidiary and the Bank
                     dan Bank menandatangani Perjanjian Kerjasama                    entered into a Consumer Financing Asset
                     Pengambilalihan Piutang Pembiayaan dengan                       Purchase Agreement with a total financing facility
                     total fasilitas pembiayaan sebesar Rp1.630.000                  of Rp1,630,000 in accordance with the Joint
                     sesuai yang telah ditetapkan PKS Pembiayaan                     Financing Agreement, in which the Subsidiary
                     Bersama, dimana Entitas Anak menanggung                         bears credit risk in accordance with its financing
                     risiko kredit sesuai dengan porsi pembiayaannya                 portion (without recourse). This agreement has
                     (without      recourse). Perjanjian   ini  telah                been extended until 28 February 2024, with total
                     diperpanjang dengan jangka waktu sampai                         facility amounted to Rp21,000,000.
                     dengan tanggal 28 Februari 2024 dan total
                     pembiayaan menjadi sebesar Rp21.000.000.

                     Perjanjian ini telah mengalami perubahan di                     The agreement has been amended in 2023. The
                     tahun 2023. Perubahan terakhir melalui                          latest amendment through First Amendment of
                     amendemen Pertama Perjanjian Pembiayaan                         Regular Joint Financing Agreement of Subisidiary
                     Bersama (Joint Financing) Reguler Entitas Anak                  and Bank with Company No. 022A/PKS-
                     dan Bank dengan Perseroan No. 022A/PKS-                         LEG/MTF/II/2023 dated 21 February 2023, within
                     LEG/MTF/II/2023 tertanggal 21 Februari 2023,                    joint financing facility amounted to Rp3,000,000
                     dengan fasilitas pembiayaan bersama menjadi                     with a portion of joint financing facility minimum at
                     sebesar Rp3.000.000 dengan porsi fasilitas                      1.00% from Subsidiaries and maximum at 99.00%
                     pembiayaan bersama sebesar minimal 1,00%                        from Bank. The agreement is valid until
                     dari Entitas Anak dan maksimal 99,00% dari                      20 February 2024.
                     Bank. Perjanjian ini berlaku sampai dengan
                     tanggal 20 Februari 2024.




1268 PT Bank Mandiri (Persero) Tbk                                             201
Page 762
     CORPORATE                       ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                                 Financial
     GOVERNANCE                      & PRACTICES                       RESPONSIBILITY                          KEUANGAN   2023
                                                                                                                 Statements 2023


                                             PT BANK MANDIRI (PERSERO) Tbk.
                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan)                         13. CONSUMER FINANCING RECEIVABLES (continued)

    a.   Rincian dari piutang pembiayaan konsumen                          a.   Details of Subsidiary’s consumer            financing
         Entitas Anak adalah sebagai berikut (lanjutan):                        receivables are as follows (continued):

         Perjanjian ini telah mengalami beberapa kali                           The agreement has been amended few times. The
         perubahan.     Perubahan    terakhir    melalui                        latest amendment through Amendment of Motor
         amendemen Perjanjian Kerjasama Kendaraan                               Vehicle Agreement between Subsidiaries and Bank
         Bermotor antara Entitas Anak dan Bank                                  date 31 December 2023, with a joint financing
         tertanggal 31 Desember 2023, dengan fasilitas                          facility amounted to Rp24,000,000 with a portion of
         pembiayaan      bersama    menjadi     sebesar                         joint financing facility minimum at 1.00% from
         Rp24.000.000 dengan porsi fasilitas pembiayaan                         Subsidiaries and maximum at 99.00% from Bank.
         bersama sebesar minimal 1,00% dari Entitas                             The agreement is valid until 28 February 2024.
         Anak dan maksimal 99,00% dari Bank. Perjanjian
         ini berlaku sampai dengan tanggal 28 Februari
         2024.

         Jangka waktu kontrak pembiayaan yang                                   Financing period for contracts disbursed by the
         disalurkan oleh Entitas Anak atas kendaraan                            Subsidiaries on motor vehicles ranges from 12 - 84
         bermotor berkisar antara 12 - 84 bulan.                                months.

         Termasuk dalam piutang pembiayaan konsumen                             Included in consumer financing receivables
         di atas adalah transaksi dengan pihak-pihak                            transactions are related parties transactions as of
         berelasi pada tanggal 31 Desember 2023 dan                             31 December 2023 and 2022 amounted to
         2022 masing-masing sebesar Rp11.542 dan                                Rp11,542 and Rp7,846, respectively (Note 56).
         Rp7.846 (Catatan 56).

         Berikut adalah perubahan nilai tercatat piutang                        Changes in carrying amount of consumer financing
         pembiayaan konsumen dengan klasifikasi                                 receivables classified as amortised upon stages for
         diamortisasi berdasarkan stage untuk tahun yang                        the year ended 31 December 2023 and 2022 are
         berakhir pada tanggal 31 Desember 2023 dan                             as follows:
         2022:

                                                                         2023
                                               Stage 1       Stage 2            Stage 3         Total

         Biaya perolehan diamortisasi                                                                                    Amortised cost
         Saldo awal tahun                      22.712.668        846.480           198.579     23.757.727             Beginning balance
         Transfer ke/(dari) stage 1                239.079     (224.697)           (14.382)             -       Transfer to/(from) stage 1
         Transfer ke/(dari) stage 2            (1.147.403)     1.169.775           (22.372)             -       Transfer to/(from) stage 2
         Transfer ke/(dari) stage 3              (320.229)      (408.192)          728.421              -       Transfer to/(from) stage 3


         Total saldo awal setelah                                                                                Total beginning balance
            pengalihan                         21.484.115      1.383.366            890.246    23.757.727                after transfer

         Pengukuran kembali bersih                                                                                Remeasurement of net
           nilai tercatat                      (4.408.140)     (489.701)            984.254    (3.913.587)           carrying amount
         Aset keuangan baru yang                                                                                    New financial assets
           diterbitkan atau                                                                                              originated or
           dibeli                              17.777.103       158.733             117.832    18.053.668                  purchased
         Aset keuangan yang                                                                                             Financial assets
           dihentikan pengakuannya             (2.996.525)     (431.253)          (552.921)    (3.980.699)             derecognised
         Aset keuangan yang                                                                                          Written-off financial
           dihapusbuku                           (12.052)       (61.217)         (1.094.044)   (1.167.313)                     assets


         Total penambahan/(penurunan)                                                                           Total increase/(decrease)
            tahun berjalan                     10.360.386      (823.438)          (544.879)     8.992.069               during the year


         Saldo akhir tahun                     31.844.501       559.928             345.367    32.749.796                Ending balance




                                                                        202                                     ANNUAL REPORT 2023           1269
Page 763
            MAIN                            MANAGEMENT                        COMPANY                                MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                           PROFILE                                ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


            13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan)                           13. CONSUMER FINANCING RECEIVABLES (continued)

                a.   Rincian dari piutang pembiayaan konsumen                           a.   Details of Subsidiary’s consumer               financing
                     Entitas Anak adalah sebagai berikut (lanjutan):                         receivables are as follows (continued):

                     Berikut adalah perubahan nilai tercatat piutang                         Changes in carrying amount of consumer financing
                     pembiayaan konsumen dengan klasifikasi                                  receivables classified as amortised upon stages for
                     diamortisasi berdasarkan stage untuk tahun yang                         the year ended 31 December 2023 and 2022 are
                     berakhir pada tanggal 31 Desember 2023 dan                              as follows (continued):
                     2022 (lanjutan):

                                                                                     2022
                                                         Stage 1         Stage 2             Stage 3         Total


                     Biaya perolehan diamortisasi                                                                                        Amortised cost
                     Saldo awal tahun                    18.139.856           676.126           292.340      19.108.322               Beginning balance
                     Transfer ke/(dari) stage 1              38.526           (39.868)            1.342               -         Transfer to/(from) stage 1
                     Transfer ke/(dari) stage 2              49.570           (48.280)           (1.290)              -         Transfer to/(from) stage 2
                     Transfer ke/(dari) stage 3             (28.666)           56.572           (27.906)              -         Transfer to/(from) stage 3


                     Total saldo awal setelah                                                                                    Total beginning balance
                        pengalihan                       18.199.286           644.550           264.486      19.108.322                  after transfer

                     Pengukuran kembali bersih                                                                                    Remeasurement of net
                       nilai tercatat                    (7.325.476)          196.652           653.266      (6.475.558)             carrying amount
                     Aset keuangan baru yang                                                                                        New financial assets
                       diterbitkan atau                                                                                                  originated or
                       dibeli                            13.082.246           148.990            88.222      13.319.458                    purchased
                     Aset keuangan yang                                                                                                 Financial assets
                       dihentikan pengakuannya           (1.239.106)          (119.162)         (115.430)    (1.473.698)               derecognised
                     Aset keuangan yang                                                                                              Written-off financial
                       dihapusbuku                           (4.282)           (24.550)         (691.965)      (720.797)                       assets


                     Total penambahan/(penurunan)                                                                               Total increase/(decrease)
                        tahun berjalan                    4.513.382           201.930            (65.907)     4.649.405                 during the year


                     Saldo akhir tahun                   22.712.668           846.480           198.579      23.757.727                  Ending balance



                b.   Rincian dari piutang pembiayaan konsumen                           b.   Details of consumer financing receivables by Bank
                     berdasarkan kolektibilitas Bank Indonesia adalah                        Indonesia’s collectibility are as follows:
                     sebagai berikut:

                                                                       2023                    2022


                     Lancar                                            30.685.547               22.426.377                                   Current
                     Dalam perhatian khusus                             1.718.882                1.127.591                           Special mention
                     Kurang lancar                                        156.031                   86.362                             Substandard
                     Diragukan                                            186.996                  105.737                                  Doubtful
                     Macet                                                  2.340                   11.660                                     Loss

                     Total                                             32.749.796               23.757.727                                    Total
                     Dikurangi: cadangan kerugian                                                                               Less: allowance for
                       penurunan nilai                                  (713.044)                (610.361)                     impairment losses

                     Neto                                              32.036.752               23.147.366                                           Net




1270 PT Bank Mandiri (Persero) Tbk                                                  203
Page 764
     CORPORATE                        ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                      LAPORAN
                                                                                                                          Financial
     GOVERNANCE                       & PRACTICES                         RESPONSIBILITY                                KEUANGAN   2023
                                                                                                                          Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan)                             13. CONSUMER FINANCING RECEIVABLES (continued)

    c.   Rata-rata suku bunga efektif yang dikenakan                           c.   Average of effective interest rate charged to
         kepada konsumen adalah sebagai berikut:                                    customers are as follows:
                                                             2023                     2022

         Mobil                                                  12,31%                        13,79%                                        Car
         Sepeda motor                                           23,72%                        24,77%                                  Motorcycle

    d.   Mutasi cadangan kerugian penurunan nilai                              d.   Movements of allowance for impairment losses on
         piutang pembiayaan konsumen adalah sebagai                                 consumer financing receivables are as follows:
         berikut:

                                                             2023                     2022

         Saldo awal tahun                                       610.361                   475.015                          Beginning balance
         Pembentukan selama                                                                                                 Allowance during
           tahun berjalan                                                                                                           the year
           (Catatan 46)                                       1.277.661                   708.402                                 (Note 46)
         Penerimaan kembali                                                                                             Cash recoveries from
           piutang pembiayaan                                                                                        written-offs consumer
           konsumen                                                    -                  134.639                    financing receivables
         Penghapusbukuan                                     (1.167.313)                (720.797)                                    Write-offs
         Lain-lain                                               (7.665)                   13.102                                       Others

         Saldo akhir tahun                                      713.044                   610.361                             Ending balance


                                                                            2023
                                                Stage 1         Stage 2             Stage 3            Total

         Saldo awal tahun                         415.028           108.061             87.272            610.361                Beginning balance

         Pengalihan ke/(dari):                                                                                                     Transfer to/(from):
           Kerugian kredit ekspektasian                                                                                     12 months expected
             12 bulan (stage 1)                    21.775           (19.036)            (2.739)                  -     credit losses (stage 1)
           Kerugian kredit ekspektasian                                                                                        Lifetime expected
             sepanjang umurnya -                                                                                                  credit losses
             tidak mengalami                                                                                                    - non-impaired
             penurunan nilai (stage 2)            (29.846)           33.759             (3.913)                  -                    (stage 2)
           Kerugian kredit ekspektasian                                                                                        Lifetime expected
             sepanjang umurnya - mengalami                                                                                         credit losses
             penurunan nilai (stage 3)            (11.465)          (41.738)            53.203                   -       - impaired (stage 3)

         Total saldo awal setelah                                                                                          Total beginning balance
            pengalihan                            395.492            81.046            133.823            610.361                  after transfer

         Pengukuran kembali bersih                                                                                           Net remeasurement of
           penyisihan kerugian                   (106.754)          151.325          1.224.336          1.268.907              losses allowance
         Aset keuangan baru yang                                                                                              New financial assets
           diterbitkan atau                                                                                                         originated or
           dibeli                                 234.091            46.747             54.049            334.887                     purchased
         Aset keuangan yang                                                                                                        Financial assets
           dihentikan pengakuannya                (55.510)          (83.213)          (187.410)         (326.133)                  derecognised

         Total pembentukan                                                                                                          Total allowance
            tahun berjalan                         71.827           114.859          1.090.975          1.277.661                 during the year

         Aset keuangan yang                                                                                                     Written-off financial
           dihapusbuku                            (12.052)          (61.217)        (1.094.044)        (1.167.313)                        assets
                                                                                                                             Cash recoveries from
         Penerimaan kembali piutang                                                                                       written-offs consumer
            pembiayaan konsumen                          -                 -                    -                -        financing receivables
         Lain-lain                                   4.668          (12.686)                  353          (7.665)                            Others

         Saldo akhir tahun                        459.935           122.002            131.107            713.044                  Ending balance




                                                                           204                                            ANNUAL REPORT 2023             1271
Page 765
            MAIN                            MANAGEMENT                    COMPANY                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                       PROFILE                                 ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan)                       13. CONSUMER FINANCING RECEIVABLES (continued)

                d.   Mutasi cadangan kerugian penurunan nilai                        d.   Movements of allowance for impairment losses on
                     piutang pembiayaan konsumen adalah sebagai                           consumer financing receivables are as follows
                     berikut (lanjutan):                                                  (continued):

                                                                                  2022
                                                         Stage 1       Stage 2            Stage 3         Total

                     Saldo awal tahun                      302.254         89.607             83.154        475.015                  Beginning balance

                     Pengalihan ke/(dari):                                                                                             Transfer to/(from):
                       Kerugian kredit ekspektasian                                                                             12 months expected
                         12 bulan (stage 1)                   1.224        (1.844)                  620              -     credit losses (stage 1)
                       Kerugian kredit ekspektasian                                                                                Lifetime expected
                         sepanjang umurnya -                                                                                          credit losses
                         tidak mengalami                                                                                            - non-impaired
                         penurunan nilai (stage 2)            3.245        (2.971)              (274)                -                    (stage 2)
                       Kerugian kredit ekspektasian                                                                                Lifetime expected
                         sepanjang umurnya - mengalami                                                                                 credit losses
                         penurunan nilai (stage 3)           1.458         12.628            (14.086)                -       - impaired (stage 3)

                     Total saldo awal setelah                                                                                  Total beginning balance
                        pengalihan                         308.181         97.420             69.414        475.015                    after transfer

                     Pengukuran kembali bersih                                                                                  Net remeasurement of
                       penyisihan kerugian                  (51.200)       41.100            586.107        576.007               losses allowance
                     Aset keuangan baru yang                                                                                     New financial assets
                       diterbitkan atau                                                                                                originated or
                       dibeli                              172.487         14.085             21.661        208.233                      purchased
                     Aset keuangan yang                                                                                               Financial assets
                       dihentikan pengakuannya              (17.119)      (23.390)           (35.329)       (75.838)                  derecognised

                     Total pembentukan                                                                                                  Total allowance
                        tahun berjalan                     104.168         31.795            572.439        708.402                   during the year

                     Aset keuangan yang                                                                                             Written-off financial
                       dihapusbuku                           (4.282)      (24.550)          (691.965)      (720.797)                          assets
                                                                                                                                 Cash recoveries from
                     Penerimaan kembali piutang                                                                               written-offs consumer
                        pembiayaan konsumen                       -             -            134.639        134.639           financing receivables
                     Lain-lain                                6.961         3.396              2.745         13.102                               Others

                     Saldo akhir tahun                     415.028        108.061             87.272        610.361                    Ending balance



                     Manajemen berpendapat bahwa cadangan                                 Management believes that the allowance for
                     kerugian penurunan nilai piutang pembiayaan                          impairment losses on consumer financing
                     konsumen telah memadai.                                              receivables is adequate.

                e.   Informasi mengenai pengelompokan berdasarkan                    e.   Information in respect of classification of
                     kelompok “tidak mengalami penurunan nilai” dan                       “non-impaired” and “impaired” is disclosed in Note
                     “mengalami penurunan nilai” diungkapkan pada                         62A.
                     Catatan 62A.

                f.   Piutang pembiayaan konsumen yang menjadi                        f.   Consumer financing receivables pledged as
                     jaminan atas efek-efek yang diterbitkan pada                         collateral for debt securities issued as of
                     tanggal 31 Desember 2023 dan 2022 adalah                             31 December 2023 and 2022 are Rp3,374,511 and
                     masing-masing sebesar Rp3.374.511 dan                                Rp1,718,119, respectively (Note 30).
                     Rp1.718.119 (Catatan 30).

                g.   Piutang pembiayaan konsumen yang menjadi                        g.   Consumer financing receivables pledged as
                     jaminan atas pinjaman yang diterima pada                             collateral for fund borrowing as of 31 December
                     tanggal 31 Desember 2023 dan 2022 adalah                             2023 and 2022 are Rp17,688,988 and
                     masing-masing sebesar Rp17.688.988 dan                               Rp13,515,545, respectively (Note 36f).
                     Rp13.515.545 (Catatan 36f).

                h.   Sebagai jaminan atas piutang pembiayaan                         h.   As a collateral to the customer financing
                     konsumen yang diberikan, Entitas Anak                                receivables, the Subsidiaries received Vehicles
                     menerima jaminan dari konsumen berupa Bukti                          Ownership Certificate (“BPKB”) from its customer
                     Kepemilikan Kendaraan Bermotor (“BPKB”) atas                         for every vehicle financed by the Subsidiaries.
                     kendaraan bermotor yang dibiayai oleh Entitas
                     Anak.




1272 PT Bank Mandiri (Persero) Tbk                                               205
Page 766
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


14. INVESTASI BERSIH DALAM SEWA PEMBIAYAAN                      14. NET INVESTMENT FINANCE LEASES

    a.   Rincian dari investasi bersih dalam sewa                      a.   Details of Subsidiaries’s net investment finance
         pembiayaan Entitas Anak adalah sebagai berikut:                    leases are as follows:

                                                     2023                     2022

         Rupiah                                                                                                          Rupiah
         Pihak ketiga                                                                                               Third parties
           Piutang sewa pembiayaan                                                                     Gross lease financing
             bruto                                     6.345.951                6.761.548                        receivables
           Piutang sewa pembiayaan yang                                                            Finance lease receivables
             dibiayai bersama                                                                          jointly funded other
             pihak-pihak lain without                                                                        parties without
             recourse - bruto                            (28.009)               (102.811)                 recourse - gross
           Nilai sisa terjamin                         2.672.995                2.551.829          Guaranteed residual value
           Pendapatan sewa pembiayaan
             yang ditangguhkan                         (828.700)                (786.177)              Deferred lease income
           Simpanan jaminan                          (2.672.995)              (2.551.829)                    Security deposit

         Total investasi bersih dalam                                                              Total net investment finance
            sewa pembiayaan                            5.489.242                5.872.560                              leases
         Dikurangi: cadangan kerugian                                                                       Less: allowance for
            penurunan nilai                                (70.170)             (139.173)                  impairment losses

         Neto                                          5.419.072                5.733.387                                      Net


         Jangka waktu kontrak pembiayaan yang                               Financing period for contracts disbursed by the
         disalurkan oleh Entitas Anak atas kendaraan                        Subsidiaries on motor vehicles ranges between
         bermotor berkisar antara 12 - 60 bulan.                            12 - 60 months.

         Piutang sewa pembiayaan - bruto sesuai dengan                      Details of investment finance leases - gross, based
         tanggal jatuh temponya adalah sebagai berikut:                     on the maturity date are as follows:

                                                     2023                     2022

         Tahun                                                                                                           Year
         2023                                                  -                3.524.821                                2023
         2024                                          3.462.663                2.317.015                                2024
         2025 dan sesudahnya                           2.883.288                  919.712                        2025 and later

                                                       6.345.951                6.761.548
         Piutang sewa pembiayaan yang                                                                Finance lease receivables
           dibiayai bersama                                                                            jointly funded by other
           pihak-pihak lain without                                                                              parties without
           recourse - bruto                                (28.009)             (102.811)                      recourse - gross
         Nilai sisa terjamin, pendapatan                                                            Guaranteed residual value,
           sewa pembiayaan                                                                                              deferred
           yang ditangguhkan dan                                                                             lease income and
           simpanan jaminan                            (828.700)                (786.177)                       security deposit

         Piutang sewa pembiayaan                       5.489.242                5.872.560           Finance leases receivable




                                                                      206                                   ANNUAL REPORT 2023       1273
Page 767
            MAIN                            MANAGEMENT                       COMPANY                                MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                          PROFILE                                ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


            14. INVESTASI BERSIH DALAM SEWA PEMBIAYAAN                          14. NET INVESTMENT FINANCE LEASES (continued)
                (lanjutan)

                a.   Rincian dari investasi bersih dalam sewa                           a.   Details of Subsidiaries’s net investment finance
                     pembiayaan Entitas Anak adalah sebagai berikut                          leases are as follows (continued):
                     (lanjutan):
                     Berikut adalah perubahan nilai tercatat investasi                       Movements in carrying amount of investment
                     bersih dalam sewa pembiayaan dengan                                     finance leases classified as at amortised cost upon
                     klasifikasi  biaya    perolehan     diamortisasi                        stages are as follows:
                     berdasarkan stage:
                                                                                     2023
                                                         Stage 1          Stage 2            Stage 3        Total

                     Biaya perolehan diamortisasi                                                                                    At amortised cost
                     Saldo awal tahun                     5.676.950          168.820             26.790      5.872.560               Beginning balance
                     Transfer ke/(dari) stage 1               31.077         (29.625)            (1.452)             -         Transfer to/(from) stage 1
                     Transfer ke/(dari) stage 2           (245.387)          248.808             (3.421)             -         Transfer to/(from) stage 2
                     Transfer ke/(dari) stage 3             (14.323)         (46.353)            60.676              -         Transfer to/(from) stage 3


                     Total saldo awal                                                                                           Total beginning balance
                       setelah pengalihan                 5.448.317          341.650             82.593      5.872.560                  after transfer


                     Pengukuran kembali bersih                                                                                   Remeasurement of net
                       nilai tercatat                    (1.876.707)         (71.649)            74.314     (1.874.042)             carrying amount
                     Aset keuangan baru yang                                                                                       New financial assets
                       diterbitkan atau                                                                                                 originated or
                       dibeli                             2.484.571           40.857              3.471      2.528.899                    purchased
                     Aset keuangan yang                                                                                                Financial assets
                       dihentikan pengakuannya            (762.804)         (132.871)           (66.377)     (962.052)                derecognised
                     Aset keuangan yang                                                                                             Written-off financial
                       dihapusbuku                            (792)             (409)           (74.922)       (76.123)                       assets

                     Total penurunan                                                                                                     Total decrease
                        tahun berjalan                    (155.732)         (164.072)           (63.514)     (383.318)                during the year

                     Saldo akhir tahun                    5.292.585          177.578             19.079      5.489.242                  Ending balance


                                                                                     2022
                                                         Stage 1          Stage 2            Stage 3        Total

                     Biaya perolehan diamortisasi                                                                                    At amortised cost
                     Saldo awal tahun                     4.688.485          111.219              24.069     4.823.773               Beginning balance
                     Transfer ke/(dari) stage 1              (5.800)            5.001                799             -         Transfer to/(from) stage 1
                     Transfer ke/(dari) stage 2              32.725          (36.476)              3.751             -         Transfer to/(from) stage 2
                     Transfer ke/(dari) stage 3               4.555            17.387           (21.942)             -         Transfer to/(from) stage 3


                     Total saldo awal                                                                                           Total beginning balance
                       setelah pengalihan                 4.719.965           97.131              6.677      4.823.773                  after transfer


                     Pengukuran kembali bersih                                                                                   Remeasurement of net
                       nilai tercatat                    (1.826.079)          61.164             62.590     (1.702.325)             carrying amount
                     Aset keuangan baru yang                                                                                       New financial assets
                       diterbitkan atau                                                                                                 originated or
                       dibeli                             2.877.992           31.160             12.811      2.921.963                    purchased
                     Aset keuangan yang                                                                                                Financial assets
                       dihentikan pengakuannya              (94.859)         (20.534)           (14.199)     (129.592)                derecognised
                     Aset keuangan yang                                                                                             Written-off financial
                       dihapusbuku                                 (69)         (101)           (41.089)      (41.259)                        assets

                     Total kenaikan                                                                                                       Total increase
                        tahun berjalan                      956.985           71.689             20.113      1.048.787                during the year

                     Saldo akhir tahun                    5.676.950          168.820             26.790      5.872.560                  Ending balance




1274 PT Bank Mandiri (Persero) Tbk                                                  207
Page 768
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                           Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                          KEUANGAN   2023
                                                                                                           Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


14. INVESTASI BERSIH DALAM SEWA PEMBIAYAAN                      14. NET INVESTMENT FINANCE LEASES (continued)
    (lanjutan)

    b.   Rincian dari investasi bersih dalam         sewa              b.   Details of net investment finance leases by Bank
         pembiayaan berdasarkan kolektibilitas       Bank                   Indonesia’s collectibility as of are as follows:
         Indonesia adalah sebagai berikut:

                                                     2023                     2022

         Lancar                                        5.257.583               5.676.952                              Current
         Dalam perhatian khusus                          212.580                 168.819                      Special mention
         Kurang lancar                                     5.957                   8.157                        Substandard
         Diragukan                                        13.122                  18.632                             Doubtful

         Total                                         5.489.242               5.872.560                                Total
         Dikurangi: cadangan kerugian                                                                     Less: allowance for
           penurunan nilai                                 (70.170)             (139.173)               impairment losses

         Neto                                          5.419.072                5.733.387                                    Net

    c.   Rata-rata suku bunga efektif yang dikenakan                   c.   Average of effective interest rate charged to
         kepada konsumen adalah sebagai berikut:                            customers are as follows:

                                                     2023                     2022


         Mobil                                             13,26%                 10,28%                                Car
         Alat berat                                        11,53%                 11,85%                    Heavy equipment
         Mesin                                             11,89%                 12,39%                            Machine

    d.   Mutasi cadangan kerugian penurunan nilai                      d.   Movements of allowance for impairment losses on
         investasi bersih dalam sewa pembiayaan adalah                      net investment finance leases are as follows:
         sebagai berikut:

                                                     2023                     2022


         Saldo awal tahun                                  139.173               129.967                    Beginning balance
         Pembentukan selama                                                                                  Allowance during
           tahun                                                                                                    the year
           berjalan (Catatan 46)                             7.120                32.438                          (Note 46)
         Penerimaan kembali investasi                                                                Recovery from written-off
           bersih dalam                                                                              net investment finance
           sewa pembiayaan                                        -                18.027                             leases
         Penghapusbukuan                                   (76.123)               (41.259)                           Write-offs

         Saldo akhir tahun                                  70.170               139.173                     Ending balance




                                                                      208                                  ANNUAL REPORT 2023      1275
Page 769
            MAIN                             MANAGEMENT                       COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                          PROFILE                                   ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


            14. INVESTASI BERSIH DALAM SEWA PEMBIAYAAN                           14. NET INVESTMENT FINANCE LEASES (continued)
                (lanjutan)
                d.   Mutasi cadangan kerugian penurunan nilai                              d.   Movements of allowance for impairment losses on
                     investasi bersih dalam sewa pembiayaan adalah                              net investment finance leases are as follows
                     sebagai berikut (lanjutan):                                                (continued):
                                                                                       2023
                                                          Stage 1          Stage 2              Stage 3         Total

                     Saldo awal tahun                         95.289           34.345                9.539        139.173                 Beginning balance
                     Pengalihan ke/(dari):                                                                                                Transfer to/(from):
                       Kerugian kredit ekpektasian                                                                              12 months expected credit
                         12 bulan (stage 1)                    2.584           (2.447)               (137)                 -          losses (stage 1)
                       Kerugian kredit ekspektasian
                         sepanjang umurnya -                                                                                      Lifetime expected credit
                         tidak mengalami penurunan                                                                               losses - non-impaired
                         nilai (stage 2)                     (4.088)            4.821                (733)                 -                   (stage 2)
                       Kerugian kredit ekspektasian                                                                               Lifetime expected credit
                         sepanjang umurnya - mengalami                                                                                losses - impaired
                         penurunan nilai (stage 3)             (374)           (4.549)               4.923                 -                   (stage 3)
                     Total saldo awal                                                                                                Total beginning balance
                        setelah pengalihan                    93.411           32.170               13.592        139.173                    after transfer
                     Pengukuran kembali bersih                                                                                        Net remeasurement of
                       penyisihan kerugian                  (36.401)            2.691               86.483         52.773               losses allowance
                     Aset keuangan baru yang                                                                                           New financial assets
                       diterbitkan atau                                                                                                      originated or
                       dibeli                                  7.213           14.891                1.526         23.630                      purchased
                     Aset keuangan yang                                                                                                     Financial assets
                       dihentikan pengakuannya              (17.360)          (30.462)             (21.461)       (69.283)                  derecognised
                     Total pembentukan/(pembalikan)                                                                                Total allowance/(reversal)
                        tahun berjalan                      (46.548)          (12.880)              66.548          7.120                   during the year
                     Penerimaan kembali investasi                                                                                  Recovery from written-off
                        bersih dalam sewa                                                                                          net investment finance
                        pembiayaan                                    -                -                    -              -                         leases
                     Aset keuangan yang                                                                                                   Written-off financial
                        dihapusbuku                            (792)             (409)             (74.922)       (76.123)                           assets
                     Saldo akhir tahun                        46.071           18.881                5.218         70.170                   Ending balance


                                                                                       2022
                                                          Stage 1          Stage 2              Stage 3         Total

                     Saldo awal tahun                       104.092            19.058                6.817        129.967                 Beginning balance
                     Pengalihan ke/(dari):                                                                                                Transfer to/(from):
                       Kerugian kredit ekpektasian                                                                              12 months expected credit
                         12 bulan (stage 1)                   (1.151)                955                  196              -          losses (stage 1)
                       Kerugian kredit ekspektasian
                         sepanjang umurnya -                                                                                      Lifetime expected credit
                         tidak mengalami penurunan                                                                               losses - non-impaired
                         nilai (stage 2)                       1.661            (2.987)              1.326                 -                   (stage 2)
                       Kerugian kredit ekspektasian                                                                               Lifetime expected credit
                         sepanjang umurnya - mengalami                                                                                losses - impaired
                         penurunan nilai (stage 3)              314             3.716               (4.030)                -                   (stage 3)
                     Total saldo awal                                                                                                Total beginning balance
                        setelah pengalihan                  104.916            20.742                4.309        129.967                    after transfer
                     Pengukuran kembali bersih                                                                                        Net remeasurement of
                       penyisihan kerugian                   (19.054)          17.815               32.613         31.374               losses allowance
                     Aset keuangan baru yang                                                                                           New financial assets
                       diterbitkan atau                                                                                                      originated or
                       dibeli                                 10.886                   -                    -      10.886                      purchased
                     Aset keuangan yang                                                                                                     Financial assets
                       dihentikan pengakuannya                (1.390)           (4.111)             (4.321)         (9.822)                 derecognised
                     Total pembentukan/(pembalikan)                                                                                Total allowance/(reversal)
                        tahun berjalan                        (9.558)          13.704               28.292         32.438                   during the year
                     Penerimaan kembali investasi                                                                                  Recovery from written-off
                        bersih dalam sewa                                                                                          net investment finance
                        pembiayaan                                     -               -            18.027         18.027                            leases
                     Aset keuangan yang                                                                                                   Written-off financial
                        dihapusbuku                                 (69)         (101)             (41.089)       (41.259)                           assets
                     Saldo akhir tahun                        95.289           34.345                9.539        139.173                   Ending balance


                     Manajemen berpendapat bahwa cadangan                                       Management believes that the allowance for
                     kerugian penurunan nilai investasi bersih dalam                            impairment losses on net investment finance lease
                     sewa pembiayaan telah memadai.                                             is adequate.




1276 PT Bank Mandiri (Persero) Tbk                                                    209
Page 770
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                              Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                              KEUANGAN   2023
                                                                                                              Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


14. INVESTASI BERSIH DALAM SEWA PEMBIAYAAN                     14. NET INVESTMENT FINANCE LEASES (continued)
    (lanjutan)

    e.   Informasi mengenai pengelompokan berdasarkan                 e.   Information in respect of classification of
         kelompok “tidak mengalami penurunan nilai” dan                    “non-impaired” and “impaired” is disclosed in Note
         “mengalami penurunan nilai” diungkapkan pada                      62A.
         Catatan 62.A.

    f.   Investasi bersih dalam sewa pembiayaan yang                  f.   Net investment finance leases pledged as
         menjadi jaminan atas efek-efek yang diterbitkan                   collateral for debt securities issued as of
         pada tanggal 31 Desember 2023 dan 2022                            31 December 2023 and 2022 amounted to
         adalah masing-masing sebesar Rp873.111 dan                        Rp873,111 and Rp888,925, respectively (Note 30).
         Rp888.925 (Catatan 30).

    g.   Investasi bersih dalam sewa pembiayaan yang                  g.   Net investment finance lease pledged as collateral
         menjadi jaminan atas pinjaman yang diterima                       for fund borrowings as of 31 December 2023 and
         pada tanggal 31 Desember 2023 dan 2022                            2022 amounted to Rp874,067 and Rp1,681,888,
         adalah masing-masing sebesar Rp874.067 dan                        respectively (Note 36f).
         Rp1.681.888 (Catatan 36f).


15. TAGIHAN AKSEPTASI                                          15. ACCEPTANCE RECEIVABLES

    a.   Berdasarkan jenis mata uang, pihak berelasi dan              a.   By currency, related parties and third parties:
         pihak ketiga:

                                                     2023                    2022

         Rupiah                                                                                                          Rupiah
          Tagihan kepada bank lain                                                               Receivables from other banks
             Pihak berelasi (Catatan 56)                   533.263               352.448          Related parties (Note 56)
             Pihak ketiga                                  254.190               355.892                       Third parties

                                                           787.453               708.340

          Tagihan kepada debitur                                                                   Receivables from debtors
            Pihak berelasi (Catatan 56)                  848.573                 797.282          Related parties (Note 56)
            Pihak ketiga                               7.549.465               2.971.145                       Third parties

                                                       8.398.038               3.768.427

         Total Rupiah                                  9.185.491               4.476.767                            Total Rupiah


         Mata uang asing                                                                                    Foreign currencies
          Tagihan kepada bank lain                                                              Receivables from other banks
             Pihak berelasi (Catatan 56)                       667                         -      Related parties (Note 56)
             Pihak ketiga                                  221.627               143.125                       Third parties

                                                           222.294               143.125

           Tagihan kepada debitur                                                                  Receivables from debtors
            Pihak berelasi (Catatan 56)                  867.924                 747.779          Related parties (Note 56)
            Pihak ketiga                               4.518.179               6.413.910                       Third parties

                                                       5.386.103               7.161.689

         Total mata uang asing                                                                          Total foreign currencies
             (Catatan 62.B.(iv))                       5.608.397               7.304.814                       (Note 62.B.(iv))

                                                      14.793.888             11.781.581
         Dikurangi: cadangan kerugian                                                                        Less: allowance for
             penurunan nilai                           (122.212)                 (61.963)                   impairment losses

         Neto                                         14.671.676             11.719.618                                         Net




                                                                     210                                     ANNUAL REPORT 2023       1277
Page 771
            MAIN                            MANAGEMENT                            COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                               PROFILE                                   ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


            15. TAGIHAN AKSEPTASI (lanjutan)                                       15. ACCEPTANCE RECEIVABLES (continued)

                a.   Berdasarkan jenis mata uang, pihak berelasi dan                   a.      By currency, related parties and third parties
                     pihak ketiga (lanjutan):                                                  (continued):

                     Berikut adalah perubahan nilai tercatat tagihan                           Movements in carrying amount of acceptance
                     akseptasi dengan klasifikasi biaya perolehan                              receivables classified as at amortised cost upon
                     diamortisasi berdasarkan stage:                                           stages:

                                                                                       2023
                                                                                                          Syariah*)/
                                                     Stage 1       Stage 2           Stage 3               Sharia*)            Total


                     Biaya perolehan diamortisasi                                                                                                At amortised cost
                     Saldo awal tahun                11.267.881        87.483               2.515              423.702         11.781.581        Beginning balance

                     Pengalihan ke/(dari) stage 2      (23.404)        23.404                       -                  -                - Transfer to/(from) stage 2

                     Total saldo awal setelah                                                                                                Total beginning balance
                       pengalihan                    11.244.477       110.887               2.515              423.702         11.781.581                 transfer


                     Pengukuran kembali bersih                                                                                               Remeasurement of net
                        nilai tercatat                   46.734         4.765                       -          (92.755)           (41.256)      carrying amount
                     Aset keuangan baru yang                                                                                                   New financial assets
                        diterbitkan atau                                                                                                            originated or
                        dibeli                       35.815.000       937.938               1.340                      -       36.754.278             purchased
                     Aset keuangan yang                                                                                                            Financial assets
                        dihentikan pengakuannya     (32.718.932)     (870.327)           (3.855)                              (33.593.114)        derecognised
                     Lain-lain                         (102.329)       (5.272)                 -                       -         (107.601)                   Others

                     Total kenaikan/                                                                                                                 Total increase/
                       (penurunan)                                                                                                                    (decrease)
                       tahun berjalan                 3.040.473        67.104            (2.515)               (92.755)         3.012.307         during the year

                     Saldo akhir tahun               14.284.950       177.991                       -          330.947         14.793.888          Ending balance


                     *) Tidak menerapkan PSAK 71                                               *)   Not implement SFAS 71


                                                                                       2022
                                                                                                          Syariah*)/
                                                     Stage 1       Stage 2           Stage 3               Sharia*)            Total


                     Biaya perolehan diamortisasi                                                                                                At amortised cost
                     Saldo awal tahun                 8.930.973     1.296.209               1.824               44.438         10.273.444        Beginning balance

                     Pengukuran kembali bersih                                                                                             Remeasurement of net
                        nilai tercatat                    5.183         1.158                       -          379.264            385.605     carrying amount
                     Aset keuangan baru yang                                                                                                 New financial assets
                        diterbitkan atau                                                                                                          originated or
                        dibeli                       34.726.091     1.308.262               8.924                      -       36.043.277           purchased
                     Aset keuangan yang                                                                                                          Financial assets
                        dihentikan pengakuannya     (32.286.918)    (2.628.423)          (8.233)                       -      (34.923.574)      derecognised
                     Lain-lain                         (107.448)       110.277                 -                       -            2.829                  Others

                     Total kenaikan/                                                                                                                 Total increase/
                       (penurunan)                                                                                                                    (decrease)
                       tahun berjalan                 2.336.908     (1.208.726)                691             379.264          1.508.137         during the year

                     Saldo akhir tahun               11.267.881        87.483               2.515              423.702         11.781.581          Ending balance


                     *) Tidak menerapkan PSAK 71                                               *)   Not implement SFAS 71




1278 PT Bank Mandiri (Persero) Tbk                                                   211
Page 772
     CORPORATE                         ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                                   LAPORAN
                                                                                                                                              Financial
     GOVERNANCE                        & PRACTICES                               RESPONSIBILITY                                             KEUANGAN   2023
                                                                                                                                              Statements 2023


                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                          (Expressed in millions of Rupiah, unless otherwise stated)


15. TAGIHAN AKSEPTASI (lanjutan)                                                 15. ACCEPTANCE RECEIVABLES (continued)

    b.   Berdasarkan jatuh tempo:                                                      b.   By maturity:

                                                                         2023                    2022

         Rupiah                                                                                                                                          Rupiah
             Kurang dari 1 bulan                                          1.294.293                 966.825                                 Less than 1 month
             1 - 3 bulan                                                  3.875.992               1.783.794                                       1 - 3 months
             3 - 6 bulan                                                  4.015.206               1.725.640                                       3 - 6 months
             6 - 12 bulan                                                         -                     508                                     6 - 12 months

         Total Rupiah                                                     9.185.491               4.476.767                                             Total Rupiah

         Mata uang asing                                                                                                                      Foreign currencies
             Kurang dari 1 bulan                                          1.388.088               2.262.567                                 Less than 1 month
             1 - 3 bulan                                                  2.167.759               3.048.233                                       1 - 3 months
             3 - 6 bulan                                                  1.748.610               1.742.471                                       3 - 6 months
             6 - 12 bulan                                                   204.009                 250.856                                     6 - 12 months
             Lebih dari 12 bulan                                             99.931                     687                                   Over 12 months

         Total mata uang asing                                                                                                         Total foreign currencies
             (Catatan 62.B.(iv))                                          5.608.397               7.304.814                                   (Note 62.B.(iv))

                                                                         14.793.888              11.781.581
         Dikurangi: cadangan kerugian                                                                                                        Less: allowance for
             penurunan nilai                                              (122.212)                  (61.963)                              impairment losses

         Neto                                                            14.671.676              11.719.618                                                     Net

    c.   Berdasarkan kolektibilitas Bank Indonesia:                                    c.   By Bank Indonesia’s collectability
                                                                         2023                    2022

         Lancar                                                          14.786.829              11.716.282                                                  Current
         Dalam perhatian khusus                                               7.059                  62.784                                          Special mention
         Kurang lancar                                                            -                   2.515                                            Substandard

                                                                         14.793.888              11.781.581
         Dikurangi: cadangan kerugian                                                                                                        Less: allowance for
             penurunan nilai                                              (122.212)                  (61.963)                               impairment losses

         Neto                                                            14.671.676              11.719.618                                                     Net


    d.   Mutasi cadangan             kerugian        penurunan           nilai         d.   Movements of allowance for impairment losses on
         tagihan akseptasi:                                                                 acceptance receivables:

                                                                         2023                    2022

         Saldo awal tahun                                                    61.963                 196.693                                 Beginning balance
         Pembentukan/(pembalikan)                                                                                                   Total allowance/(reversal)
             selama tahun                                                                                                                         during the
             berjalan (Catatan 46)                                           59.315                (146.934)                                  year (Note 46)
         Lain-lain*)                                                            934                  12.204                                            Others*)

         Saldo akhir tahun                                                  122.212                   61.963                                         Ending balance

         *)   Termasuk selisih kurs karena penjabaran mata uang asing.                      *)    Included effect of foreign currency translation.




                                                                                      212                                                     ANNUAL REPORT 2023       1279
Page 773
            MAIN                               MANAGEMENT                                        COMPANY                                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                           PROFILE                                        ANALYSIS


                                                               PT BANK MANDIRI (PERSERO) Tbk.
                                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


            15. TAGIHAN AKSEPTASI (lanjutan)                                                      15. ACCEPTANCE RECEIVABLES (continued)

                d.   Mutasi cadangan kerugian                     penurunan            nilai          d.      Movements of allowance for impairment losses on
                     tagihan akseptasi (lanjutan):                                                            acceptance receivables (continued):

                                                                                                      2023
                                                                                                                            Syariah*)/
                                                           Stage 1             Stage 2              Stage 3                  Sharia*)                 Total

                     Saldo awal tahun                           35.320                 19.314              2.515                     4.814                 61.963         Beginning balance

                     Pengalihan ke/(dari):                                                                                                                          Transfer to/(from) stage 2
                       Kerugian kredit ekspektasian                                                                                                                     Lifetime expected
                         Sepanjang umurnya -                                                                                                                                   losses -
                         tidak mengalami                                                                                                                                 non-impaired
                         penurunan nilai (stage 2)               (158)                   158                        -                      -                      -           (stage 2)

                     Total saldo awal setelah                                                                                                                        Total beginning balance
                       pengalihan                               35.162                 19.472              2.515                     4.814                 61.963                 transfer


                     Pengukuran kembali bersih                                                                                                                        Remeasurement of net
                       penyisihan kerugian                    (14.568)                  (589)                       -                 (374)              (15.531)        carrying amount
                     Aset keuangan baru yang                                                                                                                            New financial assets
                       diterbitkan atau                                                                                                                                      originated or
                       dibeli                                   74.947                247.444              1.340                           -             323.731               purchased
                     Aset keuangan yang                                                                                                                                     Financial assets
                       dihentikan pengakuannya                (65.895)            (179.135)             (3.855)                            -           (248.885)           derecognised

                     Total pembentukan/                                                                                                                                    Total allowance/
                        (pembalikan)                                                                                                                                           (reversal)
                        tahun berjalan                          (5.516)                67.720           (2.515)                      (374)                 59.315         during the year
                     Lain-lain**)                                   271                   792                 -                      (129)                    934                   Others**)

                     Saldo akhir tahun                          29.917                 87.984                       -                4.311               122.212            Ending balance

                     *)    Tidak menerapkan PSAK 71                                                           *)        Not implement SFAS 71
                     **)   Termasuk selisih kurs karena penjabaran mata uang asing.                           **)       Included effect of foreign currency translation


                                                                                                      2022
                                                                                                                            Syariah*)/
                                                           Stage 1             Stage 2              Stage 3                  Sharia*)                 Total

                     Saldo awal tahun                           15.999                177.254              1.824                     1.616               196.693          Beginning balance

                     Pengukuran kembali bersih                                                                                                                    Remeasurement of net
                       penyisihan kerugian                     (12.551)                (3.163)               (537)                   3.198                (13.053)   carrying amount
                     Aset keuangan baru yang                                                                                                                        New financial assets
                       diterbitkan atau                                                                                                                                  originated or
                       dibeli                                   68.780                251.291              8.923                           -             328.994           purchased
                     Aset keuangan yang                                                                                                                                 Financial assets
                       dihentikan pengakuannya                 (44.450)           (410.193)                (8.232)                         -            (462.875)      derecognised

                     Total pembentukan/                                                                                                                                    Total allowance/
                        (pembalikan)                                                                                                                                           (reversal)
                        tahun berjalan                          11.779            (162.065)                   154                    3.198              (146.934)         during the year
                     Lain-lain**)                                7.542               4.125                    537                        -                12.204                    Others**)

                     Saldo akhir tahun                          35.320                 19.314              2.515                     4.814                 61.963           Ending balance

                     *)    Tidak menerapkan PSAK 71                                                           *)        Not implement SFAS 71
                     **)   Termasuk selisih kurs karena penjabaran mata uang asing.                           **)       Included effect of foreign currency translation


                     Manajemen berpendapat bahwa cadangan                                                     Management believes that the allowance for
                     kerugian penurunan nilai tagihan akseptasi telah                                         impairment losses on acceptance receivables is
                     memadai.                                                                                 adequate.

                e.   Informasi mengenai pengelompokan berdasarkan                                     e.      Information in respect of classification of
                     kelompok “tidak mengalami penurunan nilai” dan                                           “non-impaired” and “impaired” is disclosed in Note
                     “mengalami penurunan nilai” diungkapkan pada                                             62A.
                     Catatan 62A.




1280 PT Bank Mandiri (Persero) Tbk                                                                  213
Page 774
     CORPORATE                          ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                      LAPORAN
                                                                                                                               Financial
     GOVERNANCE                         & PRACTICES                            RESPONSIBILITY                                KEUANGAN   2023
                                                                                                                               Statements 2023


                                                 PT BANK MANDIRI (PERSERO) Tbk.
                                            DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                        (Expressed in millions of Rupiah, unless otherwise stated)


16. PENYERTAAN SAHAM                                                          16. INVESTMENTS IN SHARES

    a.   Rincian      penyertaan        saham     adalah      sebagai              a.    The detail of investments in shares are as follows:
         berikut:

                                                                 2023                       2022

         Penyertaan saham                                                                                                 Investments in shares
            Pihak berelasi (Catatan 56)                               652.420                 1.775.847              Related parties (Note 56)
            Pihak ketiga                                            1.209.067                   981.747                           Third parties

         Total                                                      1.861.487                 2.757.594                                     Total
         Dikurangi: cadangan kerugian                                                                                         Less: allowance for
             penurunan nilai                                          (34.123)                   (68.640)                    impairment losses

         Neto                                                       1.827.364                 2.688.954                                            Net


         Rincian dari penyertaan saham pada tanggal                                      The detail of investments in shares as of
         31 Desember 2023 dan 2022 adalah sebagai                                        31 December 2023 and 2022 are as follows:
         berikut:
                                                                                31 Desember/December 2023            31 Desember/December 2022

                          Nama                                                 Persentase            Nilai          Persentase           Nilai
                      Perusahaan/                      Jenis usaha/           Kepemilikan/         Tercatat/       Kepemilikan/        Tercatat/
                        Investee                          Nature              Percentage of        Carrying        Percentage of       Carrying
                       companies                       of Business             Ownership           Amount           Ownership          Amount

         Metode nilai wajar:/Fair value method:
          PT Fintek Karya Nusantara               Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                     15,72%          620.353            15,72%         1.697.394
           PT Amartha Nusantara Raya              Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                     6,06%           254.170             9,10%           191.732
           Sleekr Pte.Ltd.                         SDM dan Akuntansi/
                                                    HR and Accounting
                                                    Platform                            3,29%           160.603             3,74%           179.942
           PT Ayopop Teknologi Indonesia          Antarmuka Pemrograman
                                                    Aplikasi Keuangan/
                                                    Open Finance API                    7,44%           138.072             2,24%            51.314
           PT Intersoft Solutions                 Layanan Digital/
                                                    Digital Service                     16,11%          112.515            13,35%            55.272
           Lunaria Annua Holding Pte.Ltd.         Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                     2,17%           105.211             2,36%            96.122
           PT Privy Identitas Digital             Layanan Digital/
                                                    Digital Service                     4,90%             95.201            4,90%           137.681
           Qoala Technology Pte. Ltd.             Teknologi Asuransi/
                                                    Insurance Technology                1,77%             89.555            2,02%            98.749
           PT Sinbad Karya Perdagangan            Layanan Digital/
                                                    Digital Service                     3,57%             38.450                   -                -
           PT Penyelesaian Transaksi
             Elektronik Nasional                  Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                     17,50%            37.440           17,50%            11.987
           PT Crowde Membangun Bangsa             Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                     12,47%            35.964           12,47%             3.042
           PT Agriaku Digital Indonesia           Teknologi Agrobisnis/
                                                    Agricultural Technology              1,58%            35.673            1,67%            29.626
           PT Delos Teknologi Maritim Jaya        Teknologi Agrobisnis/
                                                    Agricultural Technology              4,61%            27.449                   -                -
           PT Investree Radhika Jaya              Penyelenggara Jasa
                                                    Sistem Pembayaran/
                                                    Fintech Lending                      2,34%            16.857            2,34%            62.187
           Lain-lain (masing-masing
             di bawah Rp20.000)/
             Others (each less than
             Rp20,000)                            Beragam/Various             0,01% - 100,00%             46.369   0,01% - 100,00%           55.921




                                                                                 214                                          ANNUAL REPORT 2023         1281
Page 775
            MAIN                              MANAGEMENT                                     COMPANY                                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                        PROFILE                                          ANALYSIS


                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


            16. PENYERTAAN SAHAM (lanjutan)                                                   16. INVESTMENTS IN SHARES (continued)

                a.   Rincian penyertaan             saham        adalah       sebagai              a.    The detail of investments in shares are as follows
                     berikut (lanjutan:                                                                  (continued):

                     Rincian dari penyertaan saham pada tanggal                                          The detail of investments in shares as of
                     31 Desember 2023 dan 2022 adalah sebagai                                            31 December 2023 and 2022 are as follows
                     berikut (lanjutan):                                                                 (continued):
                                                                                                31 Desember/December 2023                         31 Desember/December 2022

                                     Nama                                                       Persentase                  Nilai                Persentase                 Nilai
                                 Perusahaan/                           Jenis usaha/            Kepemilikan/               Tercatat/             Kepemilikan/              Tercatat/
                                   Investee                               Nature               Percentage of              Carrying              Percentage of             Carrying
                                  companies                            of Business              Ownership                 Amount                 Ownership                Amount

                     Metode biaya dan ekuitas:/Cost and equity method:
                      PT Djakarta Lloyd (Persero)           Pelayaran Niaga/
                                                               Shipping Line                            17,67%                    32.067                  17,67%                32.067
                      PT AXA Insurance Indonesia
                         (dahulu MAGI)                      Asuransi Kerugian/
                                                               General Insurance                               -                          -               20,00%                46.385
                      Lain-lain (masing-masing
                        di bawah Rp20.000)/
                        Others (each less than
                        Rp20,000)                           Beragam/Various                    0,00015% - 10%                     15.538        0,00015% - 10%                   8.173

                                                                                                                              1.861.487                                     2.757.594
                     Dikurangi: cadangan kerugian
                       penurunan nilai/
                       Less: allowance for
                       impairment losses                                                                                         (34.123)                                      (68.640 )

                     Neto/Net                                                                                                 1.827.364                                     2.688.954


                b.   Klasifikasi penyertaan saham                       berdasarkan                b.    Investments              in     shares        by     Bank       Indonesia’s
                     kolektibilitas Bank Indonesia:                                                      collectibility:

                                                                                     2023                     2022

                     Lancar                                                           1.827.394                2.677.099                                                      Current
                     Diragukan                                                                -                   46.385                                                     Doubtful
                     Macet                                                               34.093                   34.110                                                        Loss

                                                                                      1.861.487                2.757.594
                     Dikurangi: cadangan kerugian                                                                                                             Less: allowance for
                         penurunan nilai                                               (34.123)                       (68.640)                               impairment losses

                     Neto                                                             1.827.364                2.688.954                                                              Net

                c.   Mutasi cadangan kerugian                    penurunan           nilai         c.    Movements of allowance for impairment losses on
                     penyertaan saham:                                                                   investments in shares:

                                                                                     2023                     2022

                     Saldo awal tahun                                                    68.640                        14.595                                   Beginning balance
                     (Pembalikan)/pembentukan
                         selama tahun                                                                                                         (Reversal)/allowance during the
                         berjalan (Catatan 46)                                         (33.917)                        53.658                                year (Note 46)
                     Lain-lain*)                                                          (600)                           387                                        Others*)

                     Saldo akhir tahun                                                   34.123                        68.640                                         Ending balance

                     *)   Termasuk selisih kurs karena penjabaran mata uang asing.                       *)        Included effect of foreign currency translation.


                     Manajemen     berpendapat  bahwa      jumlah                                        Management believes that the allowance for
                     cadangan kerugian penurunan nilai penyertaan                                        impairment losses on investments in shares are
                     saham telah memadai.                                                                adequate.




1282 PT Bank Mandiri (Persero) Tbk                                                                215
Page 776
     CORPORATE                             ESG COMMITMENTS                                SOCIAL AND ENVIRONMENTAL                                       LAPORAN
                                                                                                                                                           Financial
     GOVERNANCE                            & PRACTICES                                    RESPONSIBILITY                                                 KEUANGAN   2023
                                                                                                                                                           Statements 2023


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                          (Expressed in millions of Rupiah, unless otherwise stated)


17. BIAYA DIBAYAR DIMUKA                                                              17. PREPAID EXPENSES

                                                                           2023                                  2022

    Biaya pemeliharaan gedung                                                 724.951                                 636.656                    Building maintenance fee
    Biaya premi asuransi                                                      454.000                                 359.648                  Prepaid insurance premium
    Biaya transaksi kredit                                                    335.076                                  87.416                         Loans transaction fee
    Sewa dibayar dimuka                                                       260.417                                 292.592                                   Prepaid rent
    Biaya kepegawaian                                                         123.986                                 114.839                       Employment expenses
    Biaya pemeliharaan sistem                                                  64.303                                  14.935                     System maintenance fee
    Biaya transaksi treasuri                                                   33.872                                  38.230                      Treasury transaction fee
    Biaya jasa tenaga kerja pihak ketiga                                       29.089                                  18.618                  Third-party labor service fee
    Biaya promosi                                                              18.835                                   2.441                                 Promotion fee
    Biaya jasa profesional                                                      3.591                                   3.756                               Professional fee
    Lain-lain                                                                 671.669                                 326.372                                        Others

    Total                                                                   2.719.789                             1.895.503                                                      Total


    Sewa dibayar dimuka terutama merupakan sewa atas                                                Prepaid rent mostly consists of rentals on buildings
    bangunan yang digunakan sebagai kantor cabang                                                   which are used as the Group branch’s offices and
    Grup dan rumah dinas di seluruh Indonesia. Grup                                                 official residence across Indonesia. Group recognises
    mengakui aset hak guna dan liabilitas sewa untuk                                                the right-of-use assets and liabilities for all leases with
    semua sewa dengan kontrak jangka waktu tertentu                                                 time contracts, which payable periodically, except for
    yang dibayar secara periodik, kecuali untuk sewa                                                short term list and leases with low value underlying
    jangka waktu pendek dan memiliki aset pendasar                                                  assets.
    bernilai rendah.

18. ASET TETAP                                                                        18. FIXED ASSETS
    a.   Rincian aset tetap adalah sebagai berikut:                                                 a.     The details of fixed assets were as follows:
                                                                                          2023
                                             Saldo                                                                                          Saldo
                                            awal*)/                                                                                        akhir**)/
                                           Beginning      Penambahan/        Revaluasi/            Pengurangan/        Reklasifikasi/      Ending**)
                                           balance*)        Additions       Revaluation             Deductions        Reclassifications   balance

         Biaya perolehan/nilai revaluasi                                                                                                                         At cost/revaluation value
         Pemilikan langsung                                                                                                                                              Direct ownership
             Tanah                           41.356.880           33.518                      -                  -              27.327      41.417.725                            Land
             Bangunan                        11.158.849          154.831                      -          (241.080)             824.486      11.897.086                         Building
             Perlengkapan,                                                                                                                                      Furniture and fixtures,
                peralatan kantor                                                                                                                                 office equipment
                dan komputer                 15.148.376          403.071                      -          (279.005)              314.621     15.587.063               and computer
             Kendaraan bermotor                 250.858           11.322                      -           (15.458)                  317        247.039                        Vehicles
             Aset dalam pembangunan           3.121.729        2.483.635                      -                  -          (1.166.751)      4.438.613        Construction in progress
                                             71.036.692        3.086.377                      -          (535.543)                    -     73.587.526
         Aset hak guna                        6.933.206        1.998.278                      -          (203.979)                    -      8.727.505                Right of use assets
                                             77.969.898        5.084.655                      -          (739.522)                    -     82.315.031
         Akumulasi penyusutan                                                                                                                                   Accumulated depreciation
         Pemilikan langsung                                                                                                                                              Direct ownership
            Bangunan                          4.116.724          652.142                  -                (7.036)                    -      4.761.830                        Building
            Perlengkapan,                                                                                                                                       Furniture and fixtures,
                peralatan kantor                                                                                                                                 office equipment
                dan komputer                 12.789.030          972.153                  -              (278.970)                    -     13.482.213              and computer
            Kendaraan bermotor                  200.679           16.683                  -               (15.458)                    -        201.904                       Vehicles
                                             17.106.433        1.640.978                  -              (301.464)                    -     18.445.947
         Aset hak guna                        4.322.899        1.772.254                  -              (203.776)                    -      5.891.377                Right of use assets
                                             21.429.332        3.413.232                  -              (505.240)                    -     24.337.324
         Nilai buku neto                                                                                                                                                   Net book value
         Pemilikan langsung                                                                                                                                              Direct ownership
           Tanah                                                                                                                            41.417.725                            Land
           Bangunan                                                                                                                          7.135.256                         Building
           Perlengkapan,                                                                                                                                        Furniture and fixtures,
                peralatan kantor                                                                                                                                 office equipment
                dan komputer                                                                                                                 2.104.850              and computer
           Kendaraan bermotor                                                                                                                   45.135                        Vehicles
           Aset dalam pembangunan                                                                                                            4.438.613        Construction in progress
                                                                                                                                            55.141.579
         Aset hak guna                                                                                                                       2.836.128                Right of use assets
                                                                                                                                            57.977.707

         *)     Per tanggal 31 Desember 2022 terdapat aset tetap yang direvaluasi                          *)        As of 31 December 2022, fixed assets are revaluated to
                sebesar Rp35.704.220 terdiri dari Bank sebesar Rp35.272.112 dan                                      Rp35,704,220 which consist of Bank amounted to Rp35,272,112 and
                Entitas Anak sebesar Rp432.108.                                                                      Subsidiaries amounted to Rp432,108.
         **)    Per tanggal 31 Desember 2023 terdapat aset tetap yang direvaluasi                          **)       As of 31 December 2023, fixed assets are revaluated to
                sebesar Rp35.704.220 terdiri dari Bank sebesar Rp35.272.112 dan                                      Rp35.704.220 which consist of Bank amounted to Rp35,272,112 and
                Entitas Anak sebesar Rp432.108.                                                                      Subsidiaries amounted to Rp432,108.




                                                                                                  216                                                      ANNUAL REPORT 2023                1283
Page 777
            MAIN                                       MANAGEMENT                                  COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                 REPORTS                                     PROFILE                                             ANALYSIS


                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                         (Expressed in millions of Rupiah, unless otherwise stated)


            18. ASET TETAP (lanjutan)                                                                  18. FIXED ASSETS (continued)

                a.   Rincian aset               tetap      adalah        sebagai     berikut                    a.     The details of fixed assets were as follows
                     (lanjutan):                                                                                       (continued):
                                                                                                         2022
                                                            Saldo                                                                                        Saldo
                                                           awal*)/                                                                                      akhir**)/
                                                          Beginning       Penambahan/       Revaluasi/        Pengurangan/         Reklasifikasi/       Ending
                                                          balance*)         Additions      Revaluation         Deductions         Reclassifications    balance**)

                     Biaya perolehan/nilai revaluasi                                                                                                                         At cost/revaluation value
                     Pemilikan langsung                                                                                                                                              Direct ownership
                         Tanah                              35.703.009         845.040           4.565.748                   -             243.083       41.356.880                           Land
                         Bangunan                            8.744.626         549.251                   -             (1.423)           1.866.395       11.158.849                        Building
                         Perlengkapan,                                                                                                                                      Furniture and fixtures,
                            peralatan kantor                                                                                                                                 office equipment
                            dan komputer                    14.041.216          473.980                  -            (52.242)              685.422      15.148.376              and computer
                         Kendaraan bermotor                    230.748           15.603                  -               (944)                5.451         250.858                       Vehicles
                         Aset dalam pembangunan              3.799.035        2.123.973                  -               (928)           (2.800.351)      3.121.729       Construction in progress
                                                            62.518.634        4.007.847          4.565.748            (55.537)                    -      71.036.692
                     Aset hak guna                           4.984.633        2.255.067                  -           (306.494)                    -       6.933.206               Right of use assets
                                                            67.503.267        6.262.914          4.565.748           (362.031)                    -      77.969.898
                     Akumulasi penyusutan                                                                                                                                   Accumulated depreciation
                     Pemilikan langsung                                                                                                                                              Direct ownership
                        Bangunan                             3.554.636         563.517                   -             (1.423)                   (6)      4.116.724                       Building
                        Perlengkapan,                                                                                                                                       Furniture and fixtures,
                            peralatan kantor                                                                                                                                 office equipment
                            dan komputer                    11.855.255         985.823                   -            (52.048)                    -      12.789.030             and computer
                        Kendaraan bermotor                     185.647          15.970                   -               (944)                    6         200.679                      Vehicles
                                                            15.595.538        1.565.310                  -            (54.415)                    -      17.106.433
                     Aset hak guna                           2.762.937        1.852.876                  -           (292.914)                    -       4.322.899               Right of use assets
                                                            18.358.475        3.418.186                  -           (347.329)                    -      21.429.332
                     Nilai buku neto                                                                                                                                                   Net book value
                     Pemilikan langsung                                                                                                                                              Direct ownership
                       Tanah                                                                                                                             41.356.880                           Land
                       Bangunan                                                                                                                           7.042.125                        Building
                       Perlengkapan,                                                                                                                                        Furniture and fixtures,
                            peralatan kantor                                                                                                                                 office equipment
                            dan komputer                                                                                                                  2.359.346             and computer
                       Kendaraan bermotor                                                                                                                    50.179                       Vehicles
                       Aset dalam pembangunan                                                                                                             3.121.729       Construction in progress
                                                                                                                                                         53.930.259
                     Aset hak guna                                                                                                                        2.610.307               Right of use assets
                                                                                                                                                         56.540.566

                     *)     Per tanggal 31 Desember 2021 terdapat aset tetap yang direvaluasi                          *)        As of 31 December 2021, fixed assets are revaluated to
                            sebesar Rp31.138.472 terdiri dari Bank sebesar Rp30.706.364 dan                                      Rp31,138,472 which consist of Bank amounted to Rp30,706,364 and
                            Entitas Anak sebesar Rp432.108.                                                                      Subsidiaries amounted to Rp432,108.
                     **)    Per tanggal 31 Desember 2022 terdapat aset tetap yang direvaluasi                          **)       As of 31 December 2022, fixed assets are revaluated to
                            sebesar Rp35.704.220 terdiri dari Bank sebesar Rp35.272.112 dan                                      Rp35,704,220 which consist of Bank amounted to Rp35,272,112 and
                            Entitas Anak sebesar Rp432.108.                                                                      Subsidiaries amounted to Rp432,108.


                     Aset dalam pembangunan pada tanggal                                                               Construction in progress as of 31 December 2023
                     31 Desember 2023 dan 2022 adalah sebagai                                                          and 2022 are as follows:
                     berikut:

                                                                                          2023                               2022

                     Bangunan                                                              2.903.663                          2.336.700                                      Buildings
                     Komputer dan perangkat keras                                                                                                                Computers and other
                         lainnya yang belum                                                                                                                           hardware that
                         terinstalasi                                                        982.019                               713.396                   have not been installed
                     Tanah                                                                   430.513                                     -                                        Land
                     Perlengkapan dan inventaris kantor                                       43.963                                47.165             Office equipment and inventory
                     Kendaraan bermotor                                                           22                                   344                                   Vehicles
                     Lain-lain                                                                78.433                                24.124                                     Others

                                                                                           4.438.613                          3.121.729




1284 PT Bank Mandiri (Persero) Tbk                                                                           217
Page 778
     CORPORATE                             ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                         Financial
     GOVERNANCE                            & PRACTICES                         RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                         Statements 2023


                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in millions of Rupiah, unless otherwise stated)


18. ASET TETAP (lanjutan)                                                      18. FIXED ASSETS (continued)

    a.   Rincian aset              tetap   adalah     sebagai    berikut            a.     The details of fixed assets were as follows
         (lanjutan):                                                                       (continued):
         Estimasi persentase tingkat penyelesaian aset                                     The estimated percentage of completion of
         dalam       pembangunan      pada      tanggal                                    construction in progress as of 31 December 2023
         31 Desember 2023 dan 2022 untuk komputer                                          and 31 December 2022 for computers and other
         dan perangkat keras lainnya yang belum                                            hardware that have not been installed was ranging
         terinstalasi adalah masing-masing berkisar                                        between 22.00% - 85.00%, respectively.
         22,00% - 85,00%.

         Aset hak guna pada tanggal 31 Desember 2023                                       Right of use assets as of 31 December 2023 are
         adalah sebagai berikut:                                                           as follows:

                                                                                   2023
                                                Saldo                                                                       Saldo
                                              1 Januari/      Penambahan/      Pengurangan/         Reklasifikasi/      31 Desember/
                                             January 2023       Additions       Deductions         Reclassifications   December 2023
         Biaya perolehan                                                                                                                                      At cost
           Bangunan                              5.815.928         1.740.098        (200.477)                      -         7.355.549                   Building
           Perlengkapan,                                                                                                                   Furniture and fixtures,
               peralatan kantor                                                                                                             office equipment
               dan komputer                         59.454            3.260              (3.502)                   -            59.212          and computer
           Kendaraan bermotor                    1.057.824          254.920                    -                   -         1.312.744                  Vehicles

                                                 6.933.206         1.998.278        (203.979)                      -         8.727.505


         Akumulasi penyusutan                                                                                                             Accumulated depreciation
          Bangunan                               3.618.037         1.467.568        (200.274)                      -         4.885.331                  Building
          Perlengkapan,                                                                                                                   Furniture and fixtures,
              peralatan kantor                                                                                                              office equipment
              dan komputer                           34.665          12.565              (3.502)                   -           43.728           and computer
          Kendaraan bermotor                        670.197         292.121                    -                   -          962.318                   Vehicles

                                                 4.322.899         1.772.254        (203.776)                                5.891.377


         Nilai buku neto                                                                                                                              Net book value
             Bangunan                                                                                                        2.470.218                   Building
             Perlengkapan,                                                                                                                 Furniture and fixtures,
                peralatan kantor                                                                                                            office equipment
                dan komputer                                                                                                   15.484          and computer
             Kendaraan bermotor                                                                                               350.426                    Vehicles

                                                                                                                             2.836.128



         Aset hak guna pada tanggal 31 Desember 2022                                        Right of use assets as of 31 December 2022 are
         adalah sebagai berikut:                                                            as follows:
                                                                                   2022
                                                Saldo                                                                       Saldo
                                              1 Januari/      Penambahan/      Pengurangan/         Reklasifikasi/      31 Desember/
                                             January 2022       Additions       Deductions         Reclassifications   December 2022

         Biaya perolehan                                                                                                                                      At cost
           Bangunan                              4.048.156         1.999.439        (231.667)                      -         5.815.928                   Building
           Perlengkapan,                                                                                                                   Furniture and fixtures,
               peralatan kantor                                                                                                             office equipment
               dan komputer                          29.083          30.371                 -                      -            59.454          and computer
           Kendaraan bermotor                       907.394         225.257          (74.827)                      -         1.057.824                  Vehicles
                                                 4.984.633         2.255.067        (306.494)                      -         6.933.206

         Akumulasi penyusutan                                                                                                             Accumulated depreciation
          Bangunan                               2.293.803         1.553.974        (229.740)                      -         3.618.037                  Building
          Perlengkapan,                                                                                                                   Furniture and fixtures,
              peralatan kantor                                                                                                              office equipment
              dan komputer                           12.370          22.295                 -                      -           34.665          and computer
          Kendaraan bermotor                        456.764         276.607          (63.174)                      -          670.197                   Vehicles
                                                 2.762.937         1.852.876        (292.914)                      -         4.322.899

         Nilai buku neto                                                                                                                              Net book value
             Bangunan                                                                                                        2.197.891                   Building
             Perlengkapan,                                                                                                                 Furniture and fixtures,
                peralatan kantor                                                                                                            office equipment
                dan komputer                                                                                                   24.789          and computer
             Kendaraan bermotor                                                                                               387.627                   Vehicles
                                                                                                                             2.610.307




                                                                                 218                                                     ANNUAL REPORT 2023             1285
Page 779
            MAIN                            MANAGEMENT                           COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                              PROFILE                             ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


            18. ASET TETAP (lanjutan)                                               18. FIXED ASSETS (continued)

                a.   Rincian aset        tetap    adalah   sebagai     berikut            a.    The details of fixed assets were as follows
                     (lanjutan):                                                                (continued):

                     Tabel berikut menyajikan beban hak guna yang                               The table below shows the right of use expenses
                     dilaporkan dalam laporan laba rugi konsolidasian:                          in consolidated statement of profit or loss:

                                                                                      2023

                                                                                                      Beban yang
                                                                 Beban                 Beban         berhubungan
                                                              penyusutan            bunga atas       dengan sewa
                                                                aset hak         liabilitas sewa/   jangka pendek/
                                                                 guna/                Interest         Expenses
                                                             Depreciation of         expenses          related to
                                                              right of use            of lease        short term
                                                                 assets              liabilities         lease


                     Bangunan                                        1.467.568            41.972            15.149                                     Building
                     Perlengkapan, peralatan kantor                                                                    Furniture and fixture, office equipment
                         dan komputer                                  12.565              1.589            12.911                          and computer
                     Kendaraan bermotor                               292.121             25.553             2.237                                     Vehicles

                     Total yang diakui dalam                                                                             Total recognised in consolidated
                         laporan laba rugi konsolidasian             1.772.254            69.114            30.297           statement of profit or loss



                                                                                      2022

                                                                                                      Beban yang
                                                                 Beban                 Beban         berhubungan
                                                              penyusutan            bunga atas       dengan sewa
                                                                aset hak         liabilitas sewa/   jangka pendek/
                                                                 guna/                Interest         Expenses
                                                             Depreciation of         expenses          related to
                                                              right of use            of lease        short term
                                                                 assets              liabilities         lease


                     Bangunan                                        1.553.974            37.049            20.596                                     Building
                     Perlengkapan, peralatan kantor                                                                    Furniture and fixture, office equipment
                         dan komputer                                  22.295              1.922             4.095                            and computer
                     Kendaraan bermotor                               276.607             25.054             2.154                                     Vehicles

                     Total yang diakui dalam                                                                             Total recognised in consolidated
                         laporan laba rugi konsolidasian             1.852.876            64.025            26.845           statement of profit or loss



                     Bank menyewa beberapa aset termasuk                                        Bank entered into rental agreement for a number
                     kendaraan, rumah dinas, gedung kantor, ruang                               of assets including vehicle, office house, office
                     ATM dan lain-lain. Rata-rata masa sewa adalah 2                            building, ATM spaces and others. The average
                     (dua) tahun.                                                               lease term is 2 (two) years.

                     Bank juga memiliki sewa tertentu dengan masa                               Bank also has a number lease with leases terms
                     sewa 12 bulan atau kurang dan sewa aset                                    12 months or less and low value underlying asset.
                     bernilai rendah. Bank menerapkan pengecualian                              Bank applied the exception for the short term
                     untuk sewa jangka pendek dan sewa bernilai                                 leases and low value leases.
                     rendah untuk sewa tersebut.




1286 PT Bank Mandiri (Persero) Tbk                                                     219
Page 780
     CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
     GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


18. ASET TETAP (lanjutan)                                      18. FIXED ASSETS (continued)

    b.   Lain-lain                                                 b.   Others

         1.   Perjanjian   Kerjasama Pembangunan,                       1. The Joint Agreement of Build, Operate,
              Pengoperasian dan Penyerahan (Build,                           Transfer
              Operate, Transfer)

              Pada tanggal 28 Desember 2018 telah                            On 28 December 2018, the Bank has signed
              ditandatangani      Perjanjian      Kerjasama                  the joint agreement of Build, operate, and
              Pembangunan,          Pengoperasian       dan                  transfer for asset at Jl Proklamasi
              Penyerahan (Build, Operate, Transfer) atas                     No. 31 Jakarta for 30 years period with
              aset        di        Jalan        Proklamasi                  PT Wijaya Karya Bangunan Gedung Tbk. in
              No. 31 Jakarta untuk jangka waktu 30 tahun                     order to optimize the strategic assets of Bank
              dengan Mitra Kerjasama PT Wijaya Karya                         Mandiri by prioritizing the cooperation through
              Bangunan Gedung Tbk. dalam rangka                              BUMN synergy.
              optimalisasi aset strategis milik Bank Mandiri
              dengan mengutamakan kerjasama sinergi
              BUMN.

         2.   Revaluasi                                                 2.   Revaluation

              Revaluasi Tahun 2015 - 2016                                    Revaluation year 2015 - 2016

              Berdasarkan Peraturan Menteri Keuangan                         Based on Minister of Finance of the Republic
              Republik            Indonesia        (PMK)                     of     Indonesia         Regulation        (PMK)
              No. 191/PMK.010/2015 tanggal 15 Oktober                        No. 191/PMK.010/2015 dated 15 October
              2015 tentang Penilaian Kembali Aktiva Tetap                    2015 regarding Revaluation of Fixed Assets
              Untuk Tujuan Perpajakan Bagi Permohonan                        for Tax Purposes for Applications Filed in
              yang Diajukan Pada Tahun 2015 dan Tahun                        2015 and 2016, with the first amendment
              2016, dengan perubahan pertama melalui                         through the Minister of Finance Regulation No.
              Peraturan      Menteri      Keuangan    No.                    233/PMK.03/2015 dated 21 December 2015
              233/PMK.03/2015 tanggal 21 Desember                            and the second amendment of the Minister of
              2015 dan perubahan kedua Peraturan                             Finance    Regulation      No. 29/PMK.03/2016
              Menteri Keuangan No. 29/PMK.03/2016                            dated 19 February 2016. The Group has
              tanggal 19 Februari 2016, Grup telah                           assigned registered independent appraisers to
              menugaskan perusahaan jasa penilai                             assess (revaluate) its fixed asset (land).
              terdaftar untuk melaksanakan penilaian
              (revaluasi) aset tetap atas tanah.

              Penilaian atas tanah dilakukan oleh penilai                    The valuations of land are performed by the
              independen eksternal Kantor Jasa Penilai                       external independent appraisers, Public
              Publik (KJPP) Amin, Nirwan, Alfiantori dan                     Appraiser Firm (KJPP) Amin, Nirwan, Alfiantori
              Rekan (ANA) dan KJPP Muttaqin, Bambang,                        and Partners (ANA) and KJPP Muttaqin,
              Purwanto, Rozak, Uswatun dan Rekan                             Bambang, Purwanto, Rozak, Uswatun and
              (MBPRU). Penilaian dilakukan sesuai                            Partners (MBPRU). Appraisals are performed
              dengan dan tunduk kepada ketentuan-                            based on the Concept and General Principles
              ketentuan dari Konsep dan Prinsip Umum                         of Appraisers (KPUP) article 17 in Indonesian
              Penilaian (KPUP) poin 17 dalam Standar                         Appraisal Standards (SPI) year 2015.
              Penilaian Indonesia (SPI) tahun 2015.

              Dalam pengukuran nilai wajar tanah, KJPP                       In the fair value measurement of the land, the
              memperhitungkan      kemampuan      peserta                    KJPP consider a market participant’s ability to
              pasar untuk menghasilkan manfaat ekonomi                       generate economic benefits by using the
              dengan penggunaan tertinggi dan terbaik                        assets in its highest and best use or by selling
              atas aset atau dengan menjual aset ke                          it to another market participant that would use
              peserta pasar lain yang akan menggunakan                       the asset in its highest and best use. The
              aset pada kondisi tertinggi dan penggunaan                     valuation method used by the KJPP are
              terbaik. Metode penilaian yang digunakan                       market approach and cost approach.
              oleh KJPP adalah pendekatan pasar dan
              pendekatan biaya.




                                                                 220                                      ANNUAL REPORT 2023    1287
Page 781
            MAIN                            MANAGEMENT                   COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                      PROFILE                          ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            18. ASET TETAP (lanjutan)                                     18. FIXED ASSETS (continued)

                b.   Lain-lain (lanjutan)                                     b.    Others (continued)

                     2.   Revaluasi (lanjutan)                                       2.   Revaluation (continued)

                          Revaluasi Tahun 2015 – 2016 (lanjutan)                          Revaluation year 2015 – 2016 (continued)

                          Berdasarkan Laporan Penilaian dari KJPP                         Based on the Assessment Report of the KJPP
                          MBPRU tanggal 21 Desember 2015 (Entitas                         MBPRU       dated    21   December      2015
                          Anak) dan 11 April 2016 (Bank) serta KJPP                       (Subsidiaries) and 11 April 2016 (Bank) and
                          ANA tanggal 13 April 2016 (Bank), nilai aset                    KJPP ANA dated 13 April 2016 (Bank), the
                          tetap berikut mengalami kenaikan nilai                          value of fixed assets and its increase are as
                          adalah sebagai berikut:                                         follows:
                                                                                                     Kenaikan nilai
                                                                                                   (sebelum pajak)/
                                                   Nilai pasar/           Nilai buku/              Increase in value
                           Aset tetap              Fair value             Book value                  (before tax)           Fixed assets

                          Tanah                          28.822.150                2.880.116                 25.942.034               Land


                          Untuk menentukan nilai pasar tersebut,                          To determine the fair value, KJPP ANA and
                          KJPP     ANA     dan     KJPP  MBPRU                            KJPP MBPRU uses the assessment to
                          menggunakan        metodologi penilaian                         methodology of Market Approach SPI
                          Pendekatan Pasar (Market Approach) SPI                          2015-KPUP 17 with direct comparison
                          2015-KPUP       17     dengan   metode                          method.
                          perbandingan langsung.

                          Hasil revaluasi aset tetap untuk Bank                           The results of revaluation of fixed assets of the
                          tersebut telah disetujui oleh Direktorat                        Bank were approved by the Directorate
                          Jenderal Pajak (DJP) melalui Kepala Kantor                      General of Taxes (DGT) through the Head of
                          Wilayah DJP Wajib Pajak Besar melalui                           Regional Office Large Tax Payer through
                          Surat Keputusan No. KEP-418/WPJ.19/2016                         Decree No. KEP-418/WPJ.19/2016 dated
                          tanggal 25 Mei 2016. Hasil revaluasi aset                       25 May 2016. The results of revaluation of
                          tetap Entitas Anak juga telah disetujui oleh                    fixed assets of subsidiary had been approved
                          DJP pada tanggal 8 Januari 2016.                                by the DGT on 8 January 2016.

                          Revaluasi Tahun 2019                                            Revaluation Year 2019

                          Di tahun 2019, Bank melakukan penilaian                         In 2019, Bank has performed land revaluation.
                          kembali atas tanah. Penilaian atas tanah                        The valuation of land was performed by
                          dilakukan   oleh    penilaian  independen                       external independent appraisers of the KJPP
                          eksternal KJPP Yanuar Bey dan Rekan dan                         Yanuar Bey and Partners and KJPP Iwan
                          KJPP Iwan Bachron dan Rekan. Penilaian                          Bachron and Partners. The assessment was
                          dilakukan sesuai dengan dan tunduk kepada                       performed in accordance with and subject to
                          ketentuan-ketentuan dari Konsep dan Prinsip                     the provisions of the General Assessment
                          Umum Penilaian poin 17 dalam SPI tahun                          Concepts and Principles article 17 in the SPI
                          2018.                                                           of year 2018.

                          Dalam pengukuran nilai wajar tanah, KJPP                        In the fair value measurement of the land, the
                          memperhitungkan      kemampuan      peserta                     KJPP takes into account the market
                          pasar untuk menghasilkan manfaat ekonomi                        participants’ ability to generate economic
                          dengan penggunaan tertinggi dan terbaik                         benefits to the highest and best use of the
                          atas aset atau dengan menjual aset ke                           assets or by selling assets to other market
                          peserta pasar lain yang akan menggunakan                        participants would use the asset on the
                          aset pada kondisi tertinggi dan penggunaan                      highest and best use condition. The valuation
                          terbaik. Metode penilaian yang digunakan                        methods used by KJPP are the market
                          oleh KJPP adalah pendekatan pasar,                              approach, income approach and cost
                          pendekatan pendapatan dan pendekatan                            approach.
                          biaya.


1288 PT Bank Mandiri (Persero) Tbk                                          221
Page 782
     CORPORATE                  ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                        Financial
     GOVERNANCE                 & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                        Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


18. ASET TETAP (lanjutan)                                    18. FIXED ASSETS (continued)
    b.   Lain-lain (lanjutan)                                    b.   Others (continued)
         2.   Revaluasi (lanjutan)                                    2.   Revaluation (continued)
              Revaluasi Tahun 2015 - 2016 (lanjutan)                       Revaluation year 2015 - 2016 (continued)
              Berdasarkan Laporan Penilaian dari KJPP                      Based on the Appraisal Report of KJPP
              Yanuar Bey tanggal 8 Juli 2019 dan KJPP                      Yanuar Bey on 8 July 2019 and KJPP Iwan
              Iwan Bachron tanggal 9 Agustus 2019, nilai                   Bachron on 9 August 2019, the value of fixed
              aset tetap berikut kenaikan nilainya adalah                  assets and its value increase are as follows:
              sebagai berikut:
                                                                                      Kenaikan nilai
                                                                                    (sebelum pajak)/
                                     Nilai pasar/            Nilai buku/            Increase in value
               Aset tetap            Fair value              Book value                (before tax)         Fixed assets
              Tanah                        33.596.578             29.725.630                  3.870.948               Land


              Untuk menentukan nilai pasar tersebut,                       To determine the fair value, KJPP Yanuar Bey
              KJPP Yanuar Bey dan rekan dan KJPP Iwan                      and partners and KJPP Iwan Bachron and
              Bachron    dan     rekan   menggunakan                       partners   use     the     market   approach
              metodologi penilaian Pendekatan Pasar                        methodology of SPI 2018-KPUP 15.2 using
              (Market Approach) SPI 2018-KPUP 15.2                         direct comparison method.
              dengan metode perbandingan langsung.
              Revaluasi Tahun 2022                                         Revaluation Year 2022
              Di tahun 2022, Bank melakukan penilaian                      In 2022, the Bank performed revaluations of
              kembali atas tanah. Penilaian atas tanah                     land. The valuations of land was performed by
              dilakukan   oleh   penilaian  independen                     external independent appraisers of the KJPP
              eksternal   KJPP    Muttaqin,   Bambang,                     Muttaqin, Bambang, Purwanto, Rozak,
              Purwanto, Rozak, Uswatun dan Rekan dan                       Uswatun and Partners, and Dasa'at Yudistira
              KJPP Dasa’at Yudistira dan Rekan.                            and Partners. The valuations are performed in
              Penilaian dilakukan sesuai dengan dan                        accordance with and subject to the provisions
              tunduk kepada ketentuan-ketentuan dari                       of the General Concepts and Principles of
              Konsep dan Prinsip Umum Penilaian poin 17                    Assessment article 17 in the SPI of year 2018.
              dalam tahun 2018.
              Dalam pengukuran nilai wajar tanah, KJPP                     In assessing the fair value of land, KJPP takes
              memperhitungkan      kemampuan       peserta                 into account the ability of market participants
              pasar untuk menghasilkan manfaat ekonomi                     to generate economic benefits with the highest
              dengan penggunaan tertinggi dan terbaik                      and best use of assets or by selling assets to
              atas aset atau dengan menjual aset ke                        other market participants who will use assets
              peserta pasar lain yang akan menggunakan                     in the highest conditions and best use. The
              aset pada kondisi tertinggi dan penggunaan                   valuation method used by KJPP is the market
              terbaik. Metode penilaian yang digunakan                     approach, income approach and cost
              oleh KJPP adalah pendekatan pasar,                           approach. Based on the Appraisal Report
              pendekatan pendapatan dan pendekatan                         from, KJPP Muttaqin, Bambang, Purwanto,
              biaya. Berdasarkan Laporan Penilaian dari                    Rozak, Uswatun and Partners (Signed by
              KJPP Muttaqin Bambang Purwanto Rozak                         Ir. Muhammad Adil Muttaqin, M.Sc., MAPPI
              Uswatun dan Rekan (yang ditandatangani                       (Cert) with Registered Letter (STTD)
              oleh Ir. Muhammad Adil Muttaqin, M.Sc.,                      STTD.PP-83/PM.2/2018) on 16 December
              MAPPI (Cert) dengan nomor Surat Tanda                        2022 and KJPP Dasa'at Yudistira and
              Terdaftar (STTD) STTD.PP-83/PM.2/2018)                       Partners (Signed by Dasa’at Alam Ratu, S.P.,
              tertanggal 16 Desember 2022 dan KJPP                         MAPPI (Cert) with Registered Letter (STTD)
              Dasa’at Yudistira dan Rekan (yang                            STTD.PP-93/PM.2/2018) on 19 December
              ditandatangani oleh Dasa’at Alam Ratu,                       2022, the value of fixed assets and the
              S.P., MAPPI (Cert) dengan nomor STTD                         increase in value are as follows:
              STTD.PP-93/PM.2/2018)             tertanggal
              19 Desember 2022, nilai aset tetap berikut
              kenaikan nilainya adalah sebagai berikut:
                                                                                      Kenaikan nilai
                                                                                    (sebelum pajak)/
                                     Nilai pasar/            Nilai buku/            Increase in value
               Aset tetap            Fair value              Book value                (before tax)         Fixed assets
              Tanah                        38.639.890             34.074.142                  4.565.748               Land




                                                               222                                      ANNUAL REPORT 2023   1289
Page 783
            MAIN                            MANAGEMENT                         COMPANY                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                            PROFILE                                  ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


            18. ASET TETAP (lanjutan)                                            18. FIXED ASSETS (continued)
                b.   Lain-lain (lanjutan)                                                b.    Others (continued)
                     2.   Revaluasi (lanjutan)                                                  2.   Revaluation (continued)
                          Untuk menentukan nilai pasar tersebut,                                     To determine market value, the Public
                          KJPP Muttaqin, Bambang, Purwanto, Rozak,                                   Appraiser Firm (KJPP) Muttaqin, Bambang,
                          Uswatun dan Rekan dan KJPP Dasa’at                                         Purwanto, Rozak, Uswatun and Partners and
                          Yudistira  dan    Rekan    menggunakan                                     KJPP Dasa’at Yudistira and Partners use
                          metodologi penilaian Pendekatan Pasar                                      Market Approach methodology of SPI 2018-
                          (Market Approach) SPI 2018-KPUP 15.2                                       KPUP 15.2 with direct comparison method.
                          dengan metode perbandingan langsung.
                     3.   Penilaian pada nilai wajar aset yang dimiliki                         3. Assessment in the fair value of assets owned
                          Bank pada tanggal 31 Desember 2023 dan                                   by the Bank on 31 December 2023 and 2022
                          2022       adalah   untuk   tanah   dengan                               uses revaluation method for lands and Sales
                          menggunakan revaluasi, sedangkan untuk                                   Value of Taxable Object for Buildings
                          bangunan menggunakan Nilai Jual Objek                                    (“NJOP”). As of 31 December 2023, the
                          Pajak (NJOP). Pada tanggal 31 Desember                                   revaluation value of land and NJOP owned by
                          2023, nilai revaluasi tanah dan NJOP                                     the Bank was Rp41,432,265 and Rp5,409,575,
                          bangunan yang dimiliki Bank masing-masing                                respectively. As of 31 December 2022, the
                          bernilai Rp41.432.265 dan Rp5.409.575.                                   revaluation value of land and NJOP owned by
                          Pada tanggal 31 Desember 2022, nilai                                     the Bank was Rp41,371,421                  and
                          revaluasi tanah dan NJOP bangunan yang                                   Rp5,153,212, respectively. On 2 October 2023
                          dimiliki Bank masing-masing sebesar                                      and 1 November 2023, there were abandoned
                          Rp41.371.421 dan Rp5.153.212. Pada                                      properties reclassified as fixed assets. These
                          tanggal 2 Oktober 2023 dan tanggal                                       assets consist of land and buildings located at
                          1 November 2023, terdapat properti                                       Jl. Kapten PA. Tendean No. 54 Pare-Pare and
                          terbengkalai yang direklasifikasi menjadi                                Jl. MT. Haryono Kav. 19, South Jakarta, with a
                          aset tetap. Aset tersebut berupa Tanah dan                               total book value of Rp16,546.
                          Bangunan yang berlokasi di Jl. Kapten PA.
                          Tendean No. 54 Pare-Pare dan Jl. MT.
                          Haryono Kav. 19, Jakarta Selatan dengan
                          total nilai buku sebesar Rp16.546.
                     4.   Nilai tanah Bank berdasarkan model biaya                              4.   The value of land based on cost model as of
                          pada tanggal 31 Desember 2023 dan 2022                                     31 December 2023 and 2022 amounted to
                          adalah masing-masing sebesar Rp5.728.045                                   Rp5,728,045 and Rp5,667,200, respectively.
                          dan Rp5.667.200.
                          Tabel di bawah ini menyajikan instrumen                                    The table below presents non-financial
                          non-keuangan yang diakui pada nilai wajar                                  instruments recognised at fair value based on
                          berdasarkan hierarki yang digunakan Bank                                   the hierarchy used by the Bank to determine
                          untuk menentukan dan mengungkapkan nilai                                   and disclose the fair value of non-financial
                          wajar dari instrumen non-keuangan:                                         instruments:
                          (i)   Tingkat 1: Dikutip dari harga pasar aktif                            (i)  Level 1: Quoted prices on active markets
                                untuk aset atau liabilitas yang identik;                                  for identical assets or liabilities;
                          (ii) Tingkat 2: Teknik valuasi dimana                                      (ii) Level 2: Valuation technique in which all
                                seluruh input yang memiliki efek                                          inputs which have a significant effect on
                                signifikan terhadap nilai wajar yang                                      the recorded fair value are observable,
                                tercatat dapat diobservasi baik secara                                    either directly or indirectly;
                                langsung atau tidak langsung;
                          (iii) Tingkat 3: Teknik valuasi dimana                                     (iii) Level 3: Valuation techniques in which all
                                seluruh input yang memiliki efek                                           inputs have a significant effect on the
                                signifikan terhadap nilai wajar yang                                       recorded fair value that cannot be
                                tercatat tidak dapat diobservasi dari data                                 observed from market data.
                                pasar.
                                                                                        2023
                                                         Tingkat 1/       Tingkat 2/           Tingkat 3/       Nilai wajar/
                                                          Level 1          Level 2              Level 3         Fair value

                          Tanah                                       -   41.432.265                        -    41.432.265                       Land


                                                                                        2022
                                                         Tingkat 1/       Tingkat 2/           Tingkat 3/       Nilai wajar/
                                                          Level 1          Level 2              Level 3         Fair value

                          Tanah                                       -    41.371.421                       -     41.371.421                      Land




1290 PT Bank Mandiri (Persero) Tbk                                                     223
Page 784
     CORPORATE                  ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                           Financial
     GOVERNANCE                 & PRACTICES                   RESPONSIBILITY                             KEUANGAN   2023
                                                                                                           Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


18. ASET TETAP (lanjutan)                                     18. FIXED ASSETS (continued)

    b.   Lain-lain (lanjutan)                                     b.   Others (continued)

         4.   Nilai tanah Bank berdasarkan model biaya                 4.   The value of land based on cost model as of
              pada tanggal 31 Desember 2023 dan 2022                        31 December 2023 and 2022 amounted to
              adalah masing-masing sebesar Rp5.728.045                      Rp5,728,045 and Rp5,667,200, respectively.
              dan Rp5.667.200. (lanjutan)                                   (continued)

              Nilai wajar tingkat 2 dari tanah dihitung                     The fair value of land for level 2 is calculated
              dengan       menggunakan         pendekatan                   using the comparison of market price
              perbandingan harga pasar dan estimasi                         approach and estimation of income and
              pendapatan dan biaya yang dihasilkan oleh                     expenses generated by the asset. The market
              aset. Harga pasar dari tanah yang paling                      price of the land that most closely adjusted for
              mendekati disesuaikan dengan perbedaan                        differences in the primary attributes such as
              atribut utama seperti ukuran aset, lokasi dan                 asset size, location and usage of assets. The
              penggunaan aset. Input yang paling                            most significant input in this assessment
              signifikan dalam pendekatan penilaian ini                     approach is the assumption of the price per
              adalah asumsi harga per meter.                                meter.

         5.   Hak atas tanah diperoleh berdasarkan                     5. Land rights acquired through Leasehold
              Sertifikat Hak Guna Bangunan (“HGB”) yang                     Certificate (“HGB”) that can be renewed will
              dapat diperbaharui dengan masa yang akan                      expire between 2023 until 2042. Based on
              berakhir antara tahun 2023 sampai tahun                       past experience, the Group believes that they
              2042. Mengacu pada praktik di masa                            can extend the HGB.
              lampau, Grup memiliki keyakinan dapat
              memperpanjang HGB tersebut.

         6.   Pada tanggal 31 Desember 2023, Bank                      6. As of 31 December 2023, the Bank has
              Mandiri telah mengasuransikan aset tetap                      insured its fixed assets (excluding land rights,
              (tidak termasuk hak atas tanah, aset dalam                    construction in progress and the leased
              pembangunan dan aset sewa) untuk                              property) to cover potential losses against fire,
              menutupi kemungkinan kerugian terhadap                        theft and natural disaster to PT Estika Jasa
              risiko kebakaran, pencurian dan bencana                       Tama and PT Asuransi Dayin Mitra, in their
              alam kepada PT Estika Jasa Tama dan                           entirety, are third parties in relation to PT Krida
              PT Asuransi Dayin Mitra keseluruhannya                        Upaya Tunggal, PT Asuransi Kredit Indonesia,
              adalah pihak ketiga, PT Krida Upaya                           and PT Asuransi Jasa Raharja Putera all of
              Tunggal, PT Asuransi Kredit Indonesia, dan                    these insurance companies are related
              PT     Asuransi   Jasa    Raharja    Putera                   parties,     with     total     insured     amount
              keseluruhannya adalah pihak berelasi,                         approximately Rp12,577,853 (31 December
              dengan nilai jumlah pertanggungan asuransi                    2022: Rp11,334,849). Management believes
              berkisar Rp12.577.853 (31 Desember 2022:                      that the insurance coverage is adequate to
              Rp11.334.849). Manajemen berpendapat                          cover possible losses on the assets insured.
              bahwa nilai pertanggungan tersebut telah
              memadai untuk menutupi kemungkinan
              kerugian yang terjadi atas aset tetap yang
              dipertanggungkan.

         7.   Aset tetap yang telah disusutkan penuh                   7. The fixed assets that have been fully
              namun masih digunakan oleh Bank Mandiri                       depreciated but still in use by Bank Mandiri
              antara lain berupa mesin-mesin kantor,                        consist of several things such as office
              peralatan percetakan, peralatan kantor dan                    machine, printing office equipment and office
              perumahan.                                                    houses.

         8.   Manajemen berpendapat tidak terdapat                     8. Management believes that there is no
              indikasi penurunan nilai atas aset tetap yang                 indication on impairment of fixed assets as of
              dimiliki Bank pada tanggal 31 Desember                        31 December 2023 and 2022.
              2023 dan 2022.




                                                                224                                       ANNUAL REPORT 2023      1291
Page 785
            MAIN                            MANAGEMENT                            COMPANY                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                               PROFILE                                  ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


            19. ASET TAKBERWUJUD                                                   19. INTANGIBLE ASSETS
                                                                                        2023
                                                    Saldo                                                                    Saldo
                                                    awal/                                                                     akhir/
                                                  Beginning      Penambahan/        Pengurangan/        Reklasifikasi/       Ending
                                                   balance         Additions         Deductions        Reclassifications     balane

                Nilai Perolehan                                                                                                                               At cost
                   Perangkat lunak                   9.060.895         322.542                     -             568.742        9.952.179                 Software
                   Goodwill                            787.466               -                     -                   -          787.466                 Goodwill
                   Aset brand Yokke                     59.334               -                     -              22.372           81.706    Yokke brand assets
                   Aset dalam pembangunan            1.804.345       1.612.117                     -           (568.742)        2.847.720 Construction in progress

                                                    11.712.040       1.934.659                     -             22.372        13.669.071


                Akumulasi amortisasi                                                                                                        Accumulated amortisation
                  Perangkat lunak                    6.595.087        1.141.998                    -                  -         7.737.085                 Software
                  Aset brand Yokke                      23.344           11.672                    -             22.372            57.388       Yokke brand assets

                                                     6.618.431        1.153.670                    -             22.372         7.794.473


                Nilai buku neto                                                                                                                      Net book value
                   Perangkat lunak                                                                                              2.215.094                 Software
                   Goodwill                                                                                                       787.466                 Goodwill
                   Aset brand Yokke                                                                                                24.318    Yokke brand assets
                   Aset dalam pembangunan                                                                                       2.847.720 Construction in progress

                                                                                                                                5.874.598


                                                                                        2022
                                                    Saldo                                                                    Saldo
                                                    awal/                                                                     akhir/
                                                  Beginning      Penambahan/        Pengurangan/        Reklasifikasi/       Ending
                                                   balance         Additions         Deductions        Reclassifications     balane

                Nilai Perolehan                                                                                                                               At cost
                   Perangkat lunak                   7.155.215         172.647                   -             1.733.033        9.060.895                 Software
                   Goodwill                            787.466               -                   -                     -          787.466                 Goodwill
                   Aset brand Yokke                     59.334               -                   -                     -           59.334    Yokke brand assets
                   Aset dalam pembangunan            2.632.746         919.152            (14.520)           (1.733.033)        1.804.345 Construction in progress

                                                    10.634.761        1.091.799           (14.520)                     -       11.712.040


                Akumulasi amortisasi                                                                                                        Accumulated amortisation
                  Perangkat lunak                    5.511.330        1.083.779                (22)                    -        6.595.087                 Software
                  Aset brand Yokke                      11.672           11.672                  -                     -           23.344       Yokke brand assets

                                                     5.523.002        1.095.451                (22)                    -        6.618.431


                Nilai buku neto                                                                                                                      Net book value
                   Perangkat lunak                                                                                              2.465.808                 Software
                   Goodwill                                                                                                       787.466                 Goodwill
                   Aset brand Yokke                                                                                                35.990    Yokke brand assets
                   Aset dalam pembangunan                                                                                       1.804.345 Construction in progress

                                                                                                                                5.093.609



                Perangkat lunak diamortisasi selama umur ekonomis                       Software is amortised over its economic useful life,
                yaitu 5 tahun (Catatan 2.r.i).                                          which is 5 years (refer to Note 2.r.i).
                Pada tanggal 31 Desember 2023 dan 31 Desember                           As of 31 December 2023 and 2022, included in
                2022, termasuk dalam aset takberwujud adalah aset                       intangible assets is the Yokke brand asset from its
                brand Yokke dari Entitas Anak PT Mandiri Capital                        Subsidiary, namely PT Mandiri Capital Indonesia (MCI)
                Indonesia (MCI) senilai Rp24.318 dan Rp35.990 (neto                     worth Rp24,318 and Rp35,990 (net - accumulated
                setelah akumulasi amortisasi) diamortisasi selama                       amortisation) amortised over its economic useful life of
                umur ekonomis 7 tahun dengan metode garis lurus.                        7 years using the straight-line method.
                Pada tanggal 31 Desember 2023 dan 2022, termasuk                        As of 31 December 2023 and 2022, included in the
                dalam perangkat lunak adalah aset dalam                                 software balance are construction in progress for
                pembangunan masing-masing sebesar Rp2.847.721                           software amounted to Rp2,847,721 and Rp1,804,345,
                dan Rp1.804.345. Estimasi persentase tingkat                            respectively. The estimated percentage of completion
                penyelesaian perangkat lunak pada tanggal                               of software as of 31 December 2023 was ranging
                31 Desember 2023 adalah berkisar 5,00% - 85,00%                         between 5.00% - 85.00% (31 December 2022: 5.00% -
                (31 Desember 2022: 5,00% - 85,00%).                                     85.00%).
                Goodwill merupakan nilai selisih antara nilai                           Goodwill arises from the difference between the cost of
                perolehan dan nilai wajar dari aset bersih yang                         acquisition with the fair value of Subsidiaries assets
                diakuisisi. Secara berkala, goodwill dievaluasi                         acquired. Goodwill is assessed regularly for
                terhadap penurunan nilai. Pada tanggal 31 Desember                      impairment. As of 31 December 2023 and 2022, there
                2023 dan 2022, tidak ada dari aset takberwujud yang                     are no impairment of goodwill.
                mengalami penurunan nilai.




1292 PT Bank Mandiri (Persero) Tbk                                                    225
Page 786
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                          Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                          KEUANGAN   2023
                                                                                                          Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


20. ASET LAIN-LAIN                                             20. OTHER ASSETS
                                                     2023                  2022

    Rupiah                                                                                                             Rupiah
       Pendapatan yang masih akan                                                                          Accrued income
           diterima                                    7.560.683            7.423.143       Receivables from customer
       Tagihan terkait dengan                                                                      Receivables related to
           transaksi ATM dan                                                                       ATM and credit card
           kartu kredit                                7.379.308            2.078.851                        transactions
                                                                                              Receivables from customer
        Piutang transaksi nasabah                      2.951.299            2.311.787                        transactions
        Aset ijarah                                    2.190.107            1.484.573                          Ijarah assets
        Agunan yang diambil alih                       1.112.684            1.145.931                 Repossesed assets
        Uang muka                                        825.973              347.593                    Advance payment
        Penjualan efek-efek yang masih                                                          Receivables from sales of
             akan diterima                                 568.178           225.715              marketable securities
        Biaya akuisisi kontrak asuransi                                                       Deferred insurance contract
             yang ditangguhkan                             489.877            499.951                      acquisition fee
        Tagihan kepada pemerintah                          461.273          1.411.257       Receivables from government
        Tagihan biaya kredit dan                                                              Receivables from credit and
             trade finance                                 322.675           253.109                   trade finance fee
        Tagihan kepada pemegang polis                      296.989           224.683       Receivables from policyholders
        Piutang reasuransi dan                                                              Reinsurance and coinsurance
             koasuransi                                    279.478           242.834                          receivables
        Aset dari unit-link                                228.088           819.771                 Assets from unit-link
        Piutang ijarah                                     218.400            13.278                     Ijarah receivables
        Setoran jaminan yang dibayarkan                    154.428           150.643               Security deposits paid
        Perlengkapan kantor                                137.248           123.927                         Office supplies
        Aset reasuransi                                    111.904            89.604                  Reinsurance assets
        Properti terbengkalai                               80.737            97.284               Abandoned properties
        Piutang management fee                              79.565            70.871         Management fee receivables
        Tagihan spot                                         2.896            22.901                       Spot receivables
        Tagihan terkait dengan                                                                     Receivables related to
             transaksi remittance                             242                  144          remittance transactions
        Tagihan atas obligasi pemerintah                                                    Receivables from government
             yang diagunkan                                    -            1.773.074       bonds pledged as collateral
        Lain-lain                                      3.682.333            2.741.846                                 Others
     Total                                            29.134.365           23.552.770                                Total

    Mata uang asing                                                                                       Foreign currencies
       Term Deposit Valas                                                                          Foreign Exchange Term
            Devisa Hasil Ekspor                        3.718.376                      -    Deposit from Export Activities
       Pendapatan yang masih akan                                                                           Accrued income
            diterima (Catatan 62.B.(iv))               2.697.497            2.109.350                     (Note 62.B.(iv))
       Tagihan atas obligasi pemerintah                                                       Receivables from government
            yang diagunkan                                                                    bonds pledged as collateral
            (Catatan 62.B.(iv))                        1.391.944            1.984.881                     (Note 62.B.(iv))
       Tagihan terkait dengan transaksi                                                              Receivables related to
            remittance                                     902.023           886.575             remittance transactions
       Tagihan biaya kredit dan                                                                Receivables from credit and
            trade finance                                   80.347            72.850                    trade finance fee
       Setoran jaminan yang dibayarkan                      25.225            25.831                 Security deposits paid
       Piutang transaksi                                                                        Receivables from customer
            nasabah                                                                                          transactions
            (Catatan 62.B.(iv))                             17.837            30.849                      (Note 62.B.(iv))
       Piutang reasuransi dan                                                                Reinsurance and coinsurance
            koasuransi                                       8.440                8.397                        receivables
       Uang muka                                             6.945                4.890                  Advance payment
       Penjualan efek-efek yang                                                                  Receivables from sales of
            masih akan diterima                                                                    marketable securities
             (Catatan 62.B.(iv))                             2.533                5.935                  (Note 62.B.(iv))
       Tagihan terkait dengan transaksi                                                        Receivables related to ATM
            ATM dan kartu kredit                                                            transactions and credit card
            (Catatan 62.B.(iv))                                85                 2.023                  (Note 62.B.(iv))
       Tagihan kepada pemegang polis                                                       Receivables from policyholders
            (Catatan 62.B.(iv))                                8                    7                    (Note 62.B.(iv))
       Tagihan spot                                            -                  207                      Spot receivables
       Lain-lain                                       1.489.116            1.759.496                                Others
         Total                                        10.340.376            6.891.291                                Total
                                                      39.474.741           30.444.061
     Dikurangi: penyisihan lainnya                    (1.596.320)          (1.746.417)                Less: other allowances
     Neto                                             37.878.421           28.697.644                                       Net

                                                                     226                                 ANNUAL REPORT 2023       1293
Page 787
            MAIN                       MANAGEMENT                          COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                             PROFILE                        ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            20. ASET LAIN-LAIN (lanjutan)                                   20. OTHER ASSETS (continued)

                Pendapatan yang masih akan diterima terdiri dari                Accrued income consist of interest accrued from the
                bunga yang masih akan diterima dari penempatan,                 placement, marketable securities, government bonds,
                efek-efek, obligasi pemerintah, kredit yang diberikan,          loans, others receivables - trade transactions and fees
                tagihan lainnya - transaksi perdagangan serta provisi           and commissions.
                dan komisi yang masih akan diterima.

                Piutang transaksi nasabah terutama merupakan                    Receivables from customer transactions mainly consist
                piutang yang timbul dari transaksi perdagangan efek             of receivables arising from securities transactions of
                Entitas Anak. Pada tanggal 31 Desember 2023 dan                 Bank’s Subsidiaries. As of 31 December 2023 and
                2022, termasuk di dalam piutang transaksi nasabah               2022, included in receivables from customer
                adalah piutang yang mengalami penurunan nilai                   transactions is an impaired portfolio amounted to
                masing-masing sebesar Rp10.003 dan Rp6.416.                     Rp10,003 and Rp6,416, respectively.

                Term Deposit Valas Devisa Hasil Ekspor merupakan                Term Deposits of Foreign Exchange from Export
                suatu instrumen dimana dana devisa hasil ekspor dari            Proceeds is an instrument where foreign exchange
                rekening khusus eksportir ditempatkan pada Bank                 from export proceeds from exporters’ special account
                Indonesia melalui rekening Bank sesuai mekanisme                are placed in Bank Indonesia through Bank’s accounts
                pasar.                                                          in accordance with market mechanisms.

                Aset Ijarah merupakan objek sewa dari transaksi                 Ijarah assets are lease assets from ijarah transaction,
                ijarah, ijarah multijasa dan ijarah muntahiyah bittamlik        ijarah multiservices, ijarah muntahiyah bittamlik
                (“IMBT”) dari Entitas Anak.                                     (“IMBT”) from Subsidiary.

                Aset dari unit-link terkait dengan transaksi piutang            Assets from unit-link is related to receivables from
                portofolio efek dari kontrak unit-link, dari reksadana          securities portfolio transactions of unit-link contracts in
                kepada Entitas Anak.                                            Subsidiary’s mutual fund.

                Tagihan terkait dengan transaksi ATM dan kartu                  Receivables related to ATM and credit card
                kredit terdiri dari tagihan atas transaksi ATM dalam            transactions consist of receivable arising from ATM
                jaringan ATM Bersama, Prima dan Link dan tagihan                transactions within ATM Bersama, Prima and Link
                atas Visa, Master Card dan JCB untuk transaksi kartu            network as well as receivables from Visa, Master Card
                kredit.                                                         and JCB as a result of credit card transactions.

                Tagihan atas Obligasi Pemerintah yang diagunkan                 Receivables from government bonds pledged as
                merupakan tagihan terkait transaksi repo to maturity            collateral represent receivables related repo to maturity
                dengan pihak ketiga, dimana Bank Mandiri                        transactions with third parties, ROI 23NN with nominal
                mengalihkan obligasi pemerintah ROI 23NN dengan                 value of USD37,000,000 (full amount), ROI 24 with
                nilai nominal sebesar USD37.000.000 (nilai penuh),              nominal value of USD40,940,000 (full amount) and ROI
                ROI 24 dengan nilai nominal sebesar USD40.940.000               25 with nominal value of USD50,000,000 (full amount)
                (nilai penuh) dan ROI 25 dengan nilai nominal                   and recorded receivables equivalent to the market
                sebesar USD50.000.000 (nilai penuh) dan kemudian                value of ROI 23NN, ROI 24 and ROI 25. The
                mencatat tagihan sebesar nilai pasar (market value)             receivables will be settled at net basis with settlement
                dari ROI 23NN, ROI 24 dan ROI 25 tersebut. Tagihan              of Bank’s liabilities to the counterparty amounted to
                ini akan diselesaikan secara neto dengan                        USD24,926,000          (full    amount)      due      on
                penyelesaian liabilitas Bank Mandiri kepada                     11 January 2023, USD31,270,000 (full amount) due on
                counterparty, sebesar USD24.926.000 (nilai penuh)               15 January 2024 and USD34,782,000 (full amount) due
                pada tanggal jatuh tempo 11 Januari 2023,                       on 15 January 2025 (Note 36d).
                USD31.270.000 (nilai penuh) pada tanggal jatuh
                tempo 15 Januari 2024 dan USD34.782.000 (nilai
                penuh) pada tanggal jatuh tempo 15 Januari 2025
                (Catatan 36d).

                Biaya akuisisi kontrak asuransi yang ditangguhkan               Subsidiary deferred insurance contract acquisition fee
                terdiri dari biaya akuisisi untuk produk asuransi unit          consists of deferred acquisition cost of unit link back
                link back end loading dan unit link hybrid yang                 end loading and unit link hybrid insurance product and
                ditangguhkan dan diamortisasi dengan metode garis               was amortised with straight-line method from
                lurus dari Entitas Anak.                                        Subsidiaries.

                Tagihan kepada pemegang polis merupakan tagihan                 Receivables from policyholders represent receivables
                Entitas Anak kepada pemegang polis atas premi                   from the Subsidiary’s to its policyholders related to
                produk non unit-link pemegang polis.                            premium of non unit-link products.



1294 PT Bank Mandiri (Persero) Tbk                                            227
Page 788
        CORPORATE                       ESG COMMITMENTS                     SOCIAL AND ENVIRONMENTAL                           LAPORAN
                                                                                                                                 Financial
        GOVERNANCE                      & PRACTICES                         RESPONSIBILITY                                     KEUANGAN   2023
                                                                                                                                 Statements 2023


                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in millions of Rupiah, unless otherwise stated)


20. ASET LAIN-LAIN (lanjutan)                                              20. OTHER ASSETS (continued)

        Pada tanggal 31 Desember 2023 dan 2022, penjualan                         As of 31 December 2023 and 2022, receivables from
        efek-efek yang masih akan diterima merupakan                              sales of marketable securities are receivables from sale
        tagihan yang timbul dari transaksi penjualan efek-efek                    of marketable securities with maturity date on
        yang jatuh tempo penyelesaiannya masing-masing                            2 January 2024 dan 3 January 2023.
        pada tanggal 2 Januari 2024 dan 3 Januari 2023.

        Lain-lain terutama terdiri dari rekening antar kantor,                    Others mainly consist of inter-office accounts, various
        berbagai macam tagihan dari transaksi kepada pihak                        form of receivables from transaction with third parties,
        ketiga dalam rangka transaksi, antara lain transaksi                      including clearing transactions and others.
        kliring dan lain-lain.

        Mutasi penyisihan kerugian aset lain-lain adalah                          Movement of allowance for impairment losses of other
        sebagai berikut:                                                          assets are as follows:

                                                                   2023                  2022

        Saldo awal tahun                                             1.746.417             1.690.929                              Beginning balance
        (Pembalikan)/penyisihan
            selama tahun                                                                                             (Reversal)/allowance during
            berjalan (Catatan 47)                                    (153.700)               187.131                        the year (Note 47)
        Lain-lain*)                                                      3.603             (131.643)                                    Others*)

        Saldo akhir tahun                                            1.596.320             1.746.417                                Ending balance

   *)
        Termasuk selisih kurs karena penjabaran mata uang asing.                                   *)
                                                                                                        Included effect of foreign currencies translation.

        Manajemen berpendapat bahwa total penyisihan                              Management believes that the allowance                              for
        kerugian aset lain-lain telah memadai.                                    impairment losses of other assets is adequate.


21. SIMPANAN NASABAH - GIRO DAN GIRO WADIAH                                21. DEPOSITS FROM CUSTOMERS - DEMAND
                                                                               DEPOSITS AND WADIAH DEMAND DEPOSITS

        a.   Berdasarkan mata uang, pihak berelasi dan pihak                      a.   By currencies, related parties and third parties:
             ketiga:

                                                                   2023                  2022

             Rupiah                                                                                                                       Rupiah
                 Pihak berelasi (Catatan 56)                        95.956.127           96.693.975                   Related parties (Note 56)
                 Pihak ketiga                                      270.787.431          234.631.125                                Third parties

             Total                                                 366.743.558          331.325.100                                                 Total


             Mata uang asing                                                                                                  Foreign currencies
                 Pihak berelasi (Catatan 56)                        70.681.705           60.553.443                   Related parties (Note 56)
                 Pihak ketiga                                      114.933.893          127.199.419                                Third parties


             Total (Catatan 62.B.(iv))                             185.615.598          187.752.862                           Total (Note 62.B.(iv))

                                                                   552.359.156          519.077.962


             Termasuk di dalam saldo simpanan giro adalah                              Included in demand deposits were wadiah demand
             giro   wadiah     masing-masing      sebesar                              deposits amounted to Rp20,847,524 and
             Rp20.847.524 dan Rp21.797.852 pada tanggal                                Rp21,797,852 as of 31 December 2023 and 2022,
             31 Desember 2023 dan 2022.                                                respectively.




                                                                                 228                                             ANNUAL REPORT 2023          1295
Page 789
            MAIN                        MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                          ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            21. SIMPANAN NASABAH - GIRO DAN GIRO WADIAH                      21. DEPOSITS FROM CUSTOMERS - DEMAND
                (lanjutan)                                                       DEPOSITS AND WADIAH DEMAND DEPOSITS
                                                                                 (continued)

                b.   Tingkat suku bunga rata-rata (cost of funds) dan              b.   Average interest rates (cost of funds) and range of
                     kisaran bagi hasil selama tahun berjalan:                          profit sharing per annum:

                     Tingkat suku bunga rata-rata (cost of funds) per                   Average interest rates (cost of funds) per annum:
                     tahun:

                                                                   2023                   2022

                     Rupiah                                               2,64%                  1,88%                              Rupiah
                     Mata uang asing (disetarakan                                                          Foreign currencies (equivalent to
                         dalam Rupiah)                                    1,95%                  0,44%                           Rupiah)

                     Kisaran bagi hasil giro wadiah per tahun:                          Range of profit sharing per annum on wadiah
                                                                                        demand deposits:

                                                                   2023                   2022

                     Rupiah                                      0,02% - 0,03%          0,01% - 0,03%                               Rupiah
                     Mata uang asing (disetarakan                                                          Foreign currencies (equivalent to
                        dalam Rupiah)                            0,00% - 0,00%          0,00% - 0,00%                            Rupiah)

                c.   Giro yang dibekukan dan diblokir sebagai                      c.    As of 31 December 2023 and 2022, demand
                     jaminan atas bank garansi, kredit yang diberikan,                   deposits pledged as collateral and blocked for
                     fasilitas pembayaran transaksi perdagangan                          bank guarantees, loans and trade finance facilities
                     (letter of credit yang tidak dapat dibatalkan) dan                  (irrevocable letter of credits) and for other
                     untuk tujuan lain pada tanggal 31 Desember                          purposes were amounted to Rp24,664,786 and
                     2023 dan 2022 adalah masing-masing sebesar                          Rp18,764,324, respectively (Notes 12B.c and
                     Rp24.664.786 dan Rp18.764.324 (Catatan 12B.c                        31e).
                     dan 31e).


            22. SIMPANAN NASABAH                 -    TABUNGAN     DAN       22. DEPOSITS FROM     CUSTOMERS    -  SAVING
                TABUNGAN WADIAH                                                  DEPOSITS AND WADIAH SAVING DEPOSITS

                a.   Berdasarkan mata uang, jenis, pihak berelasi dan              a.   By currencies, type, related parties and third
                     pihak ketiga:                                                      parties:

                                                                   2023                   2022

                     Rupiah                                                                                                          Rupiah
                         Pihak berelasi (Catatan 56)                                                             Related parties (Note 56)
                             Tabungan Mandiri                        3.749.398              3.641.055           Mandiri Saving Deposits
                         Pihak ketiga                                                                                         Third parties
                             Tabungan Mandiri                     453.344.562            425.783.273            Mandiri Saving Deposits
                             Tabungan Mandiri Haji                 12.545.926             10.396.440       Hajj Mandiri Saving Deposits

                     Total                                        469.639.886            439.820.768                                    Total

                     Mata uang asing                                                                                    Foreign currencies
                         Pihak berelasi (Catatan 56)                                                            Related parties (Note 56)
                             Tabungan Mandiri                        3.791.143              3.209.843         Mandiri Saving Deposits
                         Pihak ketiga                                                                                       Third parties
                             Tabungan Mandiri                       35.860.460             37.452.155          Mandiri Saving Deposits

                     Total (Catatan 62.B.(iv))                      39.651.603             40.661.998                Total (Note 62.B.(iv))

                                                                 509.291.489            480.482.766

                     Termasuk di dalam saldo simpanan tabungan                          Included in saving deposits were wadiah saving
                     adalah tabungan wadiah masing-masing sebesar                       deposits amounted to Rp47,026,374 and
                     Rp47.026.374 dan Rp44.214.405 pada tanggal                         Rp44,214,405 as of 31 December 2023 and 2022,
                     31 Desember 2023 dan 2022.                                         respectively.




1296 PT Bank Mandiri (Persero) Tbk                                                229
Page 790
     CORPORATE                  ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                            Financial
     GOVERNANCE                 & PRACTICES                   RESPONSIBILITY                              KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


22. SIMPANAN NASABAH - TABUNGAN                      DAN     22. DEPOSITS           FROM CUSTOMERS  -  SAVING
    TABUNGAN WADIAH (lanjutan)                                   DEPOSITS          AND WADIAH SAVING DEPOSITS
                                                                 (continued)

    b.   Tingkat suku bunga rata-rata (cost of funds) per           b.   Average interest rates (cost of funds) per annum:
         tahun:

                                                     2023                  2022

         Rupiah                                         0,50%                     0,51%                            Rupiah
         Mata uang asing (disetarakan                                                     Foreign currencies (equivalent to
             dalam Rupiah)                              0,18%                   0,19%                           Rupiah)
    c.   Pada tanggal 31 Desember 2023 dan 2022,              c.         As of 31 December 2023 and 2022, total saving
         jumlah tabungan yang dibekukan dan diblokir                     deposits pledged as collateral and blocked for
         sebagai jaminan atas kredit yang diberikan dan                  loans and other purposes were amounted to
         untuk tujuan lain masing-masing sebesar                         Rp20,873,344 and Rp17,766,721, respectively
         Rp20.873.344 dan Rp17.766.721 (Catatan                          (Note 12B.c).
         12B.c).


23. SIMPANAN NASABAH - DEPOSITO BERJANGKA                    23. DEPOSITS FROM CUSTOMERS - TIME DEPOSITS

    a.   Berdasarkan mata uang, pihak berelasi dan pihak            a.   By currencies, related parties and third parties:
         ketiga:

                                                     2023                  2022

         Rupiah                                                                                                       Rupiah
             Pihak berelasi (Catatan 56)              32.303.541           27.085.663             Related parties (Note 56)
             Pihak ketiga                            226.435.645          231.954.064                          Third parties
         Total                                       258.739.186          259.039.727                                        Total
         Mata uang asing                                                                                  Foreign currencies
             Pihak berelasi (Catatan 56)               2.549.440            3.580.322             Related parties (Note 56)
             Pihak ketiga                             28.508.878           33.395.152                          Third parties
         Total (Catatan 62.B.(iv))                    31.058.318           36.975.474                    Total (Note 62.B.(iv))
                                                     289.797.504          296.015.201

    b.   Berdasarkan jangka waktu:                                  b.   By period:


                                                     2023                  2022

         Rupiah                                                                                                       Rupiah
             1 bulan                                 128.782.455          135.375.162                              1 month
             3 bulan                                 103.855.624           90.460.008                             3 months
             6 bulan                                  18.084.274           22.280.790                             6 months
             12 bulan                                  7.837.545           10.663.982                            12 months
             Lebih dari 12 bulan                         179.288              259.785                       Over 12 months
         Total                                       258.739.186          259.039.727                                        Total
         Mata uang asing                                                                                    Foreign currencies
             1 bulan                                  14.560.090           22.515.474                               1 month
             3 bulan                                  11.394.345            7.522.823                              3 months
             6 bulan                                   3.590.857            4.994.714                              6 months
             12 bulan                                  1.378.351            1.878.389                             12 months
             Lebih dari 12 bulan                         134.675               64.074                       Over 12 months
         Total (Catatan 62.B.(iv))                    31.058.318           36.975.474                    Total (Note 62.B.(iv))
                                                     289.797.504          296.015.201




                                                                   230                                     ANNUAL REPORT 2023        1297
Page 791
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            23. SIMPANAN NASABAH - DEPOSITO BERJANGKA                       23. DEPOSITS FROM CUSTOMERS - TIME DEPOSITS
                (lanjutan)                                                      (continued)

                c.   Berdasarkan sisa waktu hingga jatuh tempo:                   c.   By remaining period to maturity date:


                                                                  2023                   2022


                     Rupiah                                                                                                        Rupiah
                         Kurang dari 1 bulan                     153.424.600            162.151.537                   Less than 1 month
                         1 - 3 bulan                              90.487.979             75.752.708                         1 - 3 months
                         3 - 6 bulan                              10.675.783             13.015.942                         3 - 6 months
                         6 - 12 bulan                              3.705.690              7.218.663                       6 - 12 months
                         Lebih dari 12 bulan                         445.134                900.877                     Over 12 months

                     Total                                       258.739.186            259.039.727                                   Total

                     Mata uang asing
                         Kurang dari 1 bulan                      18.770.698             23.965.592                     Foreign currencies
                         1 - 3 bulan                               8.360.787              7.483.892                   Less than 1 month
                         3 - 6 bulan                               3.304.332              4.343.560                          1 - 3 months
                         6 - 12 bulan                                474.879              1.063.974                          3 - 6 months
                         Lebih dari 12 bulan                         147.622                118.456                        6 - 12 months
                                                                                                                        Over 12 months
                     Total (Catatan 62.B.(iv))                    31.058.318             36.975.474                   Total (Note 62.B.(iv))

                                                                 289.797.504            296.015.201


                d.   Tingkat suku bunga rata-rata (cost of funds) per             d.   Average interest rates (cost of funds) per annum:
                     tahun:

                                                                  2023                   2022


                     Rupiah                                              3,53%                  2,63%                              Rupiah
                     Mata uang asing (disetarakan                                                         Foreign currencies (equivalent to
                       dalam Rupiah)                                     3,01%                  1,01%                           Rupiah)

                e.   Pada tanggal 31 Desember 2023 dan 2022,                      e.   As of 31 December 2023 and 2022, total time
                     jumlah deposito berjangka yang dibekukan dan                      deposits pledged as collateral and blocked for
                     diblokir sebagai jaminan atas kredit yang                         loans and other purposes were amounted to
                     diberikan dan untuk tujuan lain masing-masing                     Rp48,901,417 and Rp38,508,154, respectively
                     sebesar Rp48.901.417 dan Rp38.508.154                             (Note 12B.c).
                     (Catatan 12B.c).




1298 PT Bank Mandiri (Persero) Tbk                                               231
Page 792
     CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                              Financial
     GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                              KEUANGAN   2023
                                                                                                              Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


24. SIMPANAN DARI BANK LAIN - GIRO, GIRO                       24. DEPOSITS FROM OTHER BANKS - DEMAND
    WADIAH DAN TABUNGAN                                            DEPOSITS, WADIAH DEMAND DEPOSITS AND
                                                                   SAVING DEPOSITS
    a.   Berdasarkan mata uang, pihak berelasi dan pihak              a.   By currencies, related parties and third parties:
         ketiga:

                                                     2023                    2022

                                                                                                    Demand deposits and wadiah
         Giro dan giro wadiah                                                                               demand deposits
            Pihak berelasi (Catatan 56)                                                              Related parties (Note 56)
             Rupiah                                         13.230                  1.662                            Rupiah
             Mata uang asing                                                                             Foreign currencies
                (Catatan 62.B.(iv))                        170.019               172.497                  (Note 62.B.(iv))
                                                           183.249               174.159
            Pihak ketiga                                                                                         Third parties
             Rupiah                                    2.380.398               1.904.754                            Rupiah
             Mata uang asing                                                                             Foreign currencies
               (Catatan 62.B.(iv))                     2.259.855               1.946.238                  (Note 62.B.(iv))
                                                       4.640.253               3.850.992
         Total                                         4.823.502               4.025.151                                       Total
         Tabungan                                                                                              Saving deposits
            Pihak berelasi (Catatan 56)                                                             Related parties (Note 56)
             Rupiah                                            84                      84                           Rupiah
                                                               84                      84
            Pihak ketiga                                                                                         Third parties
             Rupiah                                    1.869.984               1.709.152                            Rupiah
             Mata uang asing                                                                             Foreign currencies
               (Catatan 62.B.(iv))                             13                      14                 (Note 62.B.(iv))
                                                       1.869.997               1.709.166
                                                       1.870.081               1.709.250
                                                       6.693.583               5.734.401

         Termasuk dalam simpanan dari bank lain - giro                     Included in deposits from other banks - demand
         adalah giro wadiah masing-masing sebesar                          deposits are wadiah demand deposits amounted to
         Rp125.337 dan Rp142.388 pada tanggal                              Rp125,337 and Rp142,388, as of 31 December
         31 Desember 2023 dan 2022.                                        2023 and 2022, respectively.
    b.   Tingkat suku bunga rata-rata (cost of funds) dan             b.   Average interest rates (cost of funds) and profit
         kisaran bagi hasil per tahun:                                     sharing per annum:
                                                     2023                    2022

         Tingkat suku bunga rata-rata                                                                    Average interest rates
             (cost of funds) per tahun:                                                           (cost of funds) per annum:
                                                                                                 Demand deposits and wadiah
         Giro dan giro wadiah                                                                               demand deposits
             Rupiah                                         2,64%                   1,88%                             Rupiah
             Mata uang asing (disetarakan                                                   Foreign currencies (equivalent to
                dalam Rupiah)                               1,95%                   0,44%                          Rupiah)
         Tabungan                                                                                             Saving deposits
             Rupiah                                         0,50%                   0,50%                            Rupiah
             Mata uang asing (disetarakan                                                   Foreign currencies (equivalent to
              dalam Rupiah)                                 0,18%                   0,19%                         Rupiah)
                                                                                                        Range of profit sharing
         Kisaran bagi hasil giro wadiah                                                                       per annum for
             per tahun:                                                                            wadiah demand deposits:
             Rupiah                               0,72% - 0,73%            0,72% - 0,75%                             Rupiah




                                                                     232                                     ANNUAL REPORT 2023        1299
Page 793
            MAIN                        MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                          ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            24. SIMPANAN DARI BANK LAIN - GIRO, GIRO                        24. DEPOSITS FROM OTHER BANKS - DEMAND
                WADIAH DAN TABUNGAN (lanjutan)                                  DEPOSITS, WADIAH DEMAND DEPOSITS AND
                                                                                SAVING DEPOSITS (continued)
                c.   Pada tanggal 31 Desember 2023 dan 2022 giro,                 c.   As of 31 December 2023 and 2022, total demand
                     giro wadiah dan tabungan dari bank lain yang                      deposits, wadiah demand deposits and saving
                     menjadi jaminan atas kredit yang diberikan dan                    deposits from other banks pledged as collateral for
                     bank garansi masing-masing sebesar Rp221.698                      loans and bank guarantees were amounted to
                     dan Rp160.387 (Catatan 12B.c dan 31e).                            Rp221,698 and Rp160,387, respectively (Notes
                                                                                       12B.c and 31e).


            25. SIMPANAN DARI BANK LAIN - INTER-BANK CALL                   25. DEPOSITS FROM OTHER BANKS - INTER-BANK
                MONEY                                                           CALL MONEY

                a.   Berdasarkan mata uang:                                       a.   By currencies:


                                                                  2023                   2022

                     Pihak berelasi (Catatan 56):                                                                Related parties (Note 56):
                         Rupiah                                        100.000                      -                             Rupiah


                     Pihak ketiga:                                                                                           Third parties:
                         Rupiah                                        215.000              200.000                              Rupiah
                         Mata uang asing                                                                              Foreign currencies
                           (Catatan 62.B.(iv))                     6.966.896              4.236.101                   (Notes 62.B.(iv))

                                                                   7.181.896              4.436.101

                                                                   7.281.896              4.436.101


                b.   Berdasarkan sisa waktu hingga jatuh tempo:                   b.   By remaining period to maturity date:

                                                                  2023                   2022

                     Rupiah                                                                                                        Rupiah
                         Kurang dari 1 bulan                           315.000              200.000                   Less than 1 month


                     Mata uang asing                                                                                    Foreign currencies
                         Kurang dari 1 bulan                         733.167              2.649.621                   Less than 1 month
                         Lebih dari 1 bulan                        6.233.729              1.586.480                       Over 1 month

                     Total (Catatan 62.B.(iv))                     6.966.896              4.236.101                   Total (Note 62.B.(iv))
                                                                  7.281.896              4.436.101

                c.   Tingkat suku bunga rata-rata (cost of funds) per             c.   Average interest rates (cost of funds) per annum:
                     tahun:

                                                                  2023                   2022

                     Rupiah                                              5,96%                  3,71%                              Rupiah
                     Mata uang asing (disetarakan                                                         Foreign currencies (equivalent to
                         dalam Rupiah)                                   4,51%                  2,75%                           Rupiah)




1300 PT Bank Mandiri (Persero) Tbk                                               233
Page 794
     CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


26. SIMPANAN DARI          BANK      LAIN   -   DEPOSITO       26. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
    BERJANGKA

    a.   Berdasarkan mata uang:                                       a.   By currencies:


                                                     2023                    2022

         Pihak berelasi (Catatan 56):                                                                Related parties (Note 56)
             Mata uang asing                                                                             Foreign currencies
               (Catatan 62.B.(iv))                         384.925              467.025                   (Note 62.B.(iv))

         Pihak ketiga:                                                                                            Third parties
             Rupiah                                        583.710            2.730.970                              Rupiah
             Mata uang asing                                                                              Foreign currencies
               (Catatan 62.B.(iv))                     2.740.666              1.478.912                    (Note 62.B.(iv))

                                                       3.324.376              4.209.882

         Total                                         3.709.301              4.676.907                                  Total


    b.   Berdasarkan jangka waktu:                                    b.   By period:

                                                     2023                    2022

         Rupiah                                                                                                        Rupiah
             1 bulan                                       355.810            2.363.920                             1 month
             3 bulan                                       189.950              338.950                            3 months
             6 bulan                                        25.200               25.350                            6 months
             12 bulan                                       12.750                2.750                           12 months

         Total                                             583.710            2.730.970                                   Total

         Mata uang asing                                                                                 Foreign currencies
             1 bulan                                     153.970                      -                            1 month
             3 bulan                                     538.895                467.025                           3 months
             6 bulan                                   1.616.685                778.375                           6 months
             12 bulan                                          -                 77.837                          12 months
             Lebih dari 12 bulan                         816.041                622.700                More than 12 months

         Total (Catatan 62.B.(iv))                     3.125.591              1.945.937                Total (Note 62.B.(iv))
                                                      3.709.301              4.676.907


    c.   Tingkat suku bunga rata-rata (cost of funds) per             c.   Average interest rates (cost of funds) per annum:
         tahun:

                                                     2023                    2022

         Rupiah                                         3,41%                       2,41%                              Rupiah
         Mata uang asing (disetarakan                                                         Foreign currencies (equivalent to
             dalam Rupiah)                              3,01%                     1,01%                             Rupiah)
    d.   Pada tanggal 31 Desember 2023 dan 2022,                      c.   As of 31 December 2023 and 2022, time deposits
         deposito berjangka dari bank lain yang menjadi                    from other banks pledged as collateral for loans
         jaminan atas kredit yang diberikan masing-                        amounted to Rp401,803 and Rp520,310,
         masing sebesar Rp401.803 dan Rp520.310                            respectively (Note 12B.c).
         (Catatan 12B.c).




                                                                     234                                   ANNUAL REPORT 2023     1301
Page 795
            MAIN                       MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                          ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            27. LIABILITAS KEPADA PEMEGANG POLIS PADA                      27. LIABILITIES TO UNIT-LINK POLICYHOLDERS
                KONTRAK UNIT-LINK

                Akun ini merupakan liabilitas Entitas Anak kepada                 This account represents Subsidiary’s liabilities to
                pemegang polis pada kontrak unit-link Entitas Anak                policyholders on the Subsidiary’s unit-link contracts
                yang ditempatkan pada investasi unit-link, dengan                 placed in unit-link investment with details as follows:
                rincian sebagai berikut:

                                                                 2023                   2022

                Non-syariah                                       28.526.959             28.934.947                           Non-sharia
                Syariah                                              667.743                775.280                               Sharia

                                                                 29.194.702            29.710.227


                Investasi pemegang polis pada kontrak unit-link di                Underlying assets of the above policyholders’
                atas memiliki aset pendasar berupa aset keuangan                  investment in unit-link contracts are financial assets
                terutama dalam bentuk kas, efek-efek dan obligasi                 mainly consist of cash, marketable securities and
                pemerintah. Pada tanggal 31 Desember 2023 dan                     government bonds. As of 31 December 2023 and 2022,
                2022, investasi pemegang polis tersebut dicatat                   the investment of policyholders were recorded to the
                sesuai dengan jenis aset keuangan dalam laporan                   related financial assets in the consolidated statements
                posisi keuangan konsolidasian.                                    of financial position.

                Termasuk di dalam investasi pemegang unit-link                    Included in the unit-link policyholders’ investments are
                adalah dana pemegang polis dalam mata uang asing                  policyholders’ fund in foreign currency as of
                pada tanggal 31 Desember 2023 dan 2022 masing-                    31 December 2023 and 2022, amounted to
                masing sebesar USD309.102.855 (nilai penuh) dan                   USD309,102,855 (full amount) and USD339,134,861
                USD339.134.861 (nilai penuh).                                     (full amount), respectively.

                Rincian   dari    investasi   unit-link  non-syariah              The details of non-sharia unit-link investments based
                berdasarkan tipe kontrak adalah sebagai berikut:                  ontype the type of contracts are as follows:

                                                                 2023                   2022

                 Prime equity                                      9.432.738              5.442.516                           Prime equity
                 Dynamic money                                     9.208.435             12.379.566                      Dynamic money
                 Equity Fund Offshore                              2.218.895              2.378.169                 Equity Fund Offshore
                 Attractive money                                  1.606.195              2.157.013                      Attractive money
                 Progressive money                                 1.585.910              1.681.321                   Progressive money
                 Mandiri Golden Offshore                           1.127.380              1.523.995             Mandiri Golden Offshore
                 Secure money                                        958.580              1.013.580                        Secure money
                 Mandiri Equity Money                                593.340                663.040                Mandiri Equity Money
                 Balance Fund Offshore                               482.263                484.864               Balance Fund Offshore
                 Money market                                        348.419                270.346                         Money market
                 Fixed money                                         326.603                231.598                          Fixed money
                 Excellent equity                                    259.702                365.597                       Excellent equity
                 Mandiri Flexible Equity Offshore                    103.295                 86.267      Mandiri Flexible Equity Offshore
                 Active money                                         90.686                100.749                          Active money
                 Protected money                                      63.606                 85.123                     Protected money
                 Mandiri Fixed Income                                 41.199                      -                Mandiri Fixed Income
                 Mandiri Multi Asset Balanced                                                              Mandiri Multi Asset Balanced
                     Offshore                                           38.625               32.356                           Offshore
                 Mandiri Global Offshore                                20.645               22.071              Mandiri Global Offshore
                 Money Market CS                                        20.443               16.776                    Money Market CS

                                                                  28.526.959             28.934.947




1302 PT Bank Mandiri (Persero) Tbk                                               235
Page 796
     CORPORATE                 ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                    Financial
     GOVERNANCE                & PRACTICES                 RESPONSIBILITY                         KEUANGAN   2023
                                                                                                    Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)    (Expressed in millions of Rupiah, unless otherwise stated)


27. LIABILITAS KEPADA PEMEGANG POLIS PADA                  27. LIABILITIES    TO      UNIT-LINK   POLICYHOLDERS
    KONTRAK UNIT-LINK (lanjutan)                               (continued)

    Dynamic money                                             Dynamic money
    Penempatan dana berbasis ekuitas dengan dasar             This is an equity fund placement with underlying
    investasi pada saham yang diperdagangkan di Bursa         investments in stocks listed in Indonesia Stock
    Efek Indonesia dan instrumen pasar uang melalui           Exchange and money market instruments through
    Reksa Dana Schroder Dana Prestasi Dinamis.                Schroder Dana Prestasi Dinamis Mutual Fund.

    Prime equity                                              Prime Equity
    Penempatan dana berbasis kombinasi dengan dasar           Placement of funds based on combination with the
    investasi saham yang diperdagangkan di Bursa Efek         investment in stocks listed in Indonesia Stock
    Indonesia dan instrumen pasar uang melalui                Exchange and money market instruments through AXA
    reksadana AXA Maestro Saham.                              Maestro Shares Mutual Fund.

    Equity Fund Offshore                                      Equity Fund Offshore
    Reksadana berbasis ekuitas dari pasar luar negeri         Equity-based mutual funds from foreign markets
    yang dikelola oleh Entitas Anak.                          managed by the Subsidiary.

    Attractive money                                          Attractive money
    Penempatan dana berbasis ekuitas dengan dasar             This is an equity fund placement with underlying
    investasi   pada  saham    dan   obligasi yang            investments in stocks and bonds traded in Indonesia
    diperdagangkan di Bursa Efek Indonesia dan                Stock Exchange and money market instruments
    instrumen pasar uang melalui Reksa Dana Mandiri           through Mandiri Mutual Fund Attractive Shares.
    Saham Atraktif.

    Progressive money                                         Progressive money
    Penempatan dana berbasis kombinasi (balanced              This is a balanced fund placement with underlying
    fund) dengan investasi pada saham dan obligasi yang       investments in stocks and bonds traded in Indonesia
    diperdagangkan di Bursa Efek Indonesia dan                Stock Exchange and money market instruments
    instrumen pasar uang melalui Reksa Dana Schroder          through Schroder Progressive Balanced Mutual Fund.
    Dana Campuran Progresif.

    Mandiri Golden Offshore                                   Mandiri Golden Offshore
    Reksadana      berbasis    ekuitas dengan    dasar        Equity-based mutual funds with underlying investments
    investasinya adalah ekuitas yang diperdagangkan di        in equity traded in offshore equity market.
    pasar ekuitas luar negeri.

    Secure money                                              Secure money
    Secure money Rupiah merupakan penempatan dana             Secure money Rupiah is a fixed income based
    berbasis pendapatan tetap dengan dasar investasi          placement of funds with underlying investments in fixed
    pada surat berharga pendapatan tetap yang                 income securities listed in Indonesia Stock Exchange
    diperdagangkan di Bursa Efek Indonesia dan                and money market instruments through Schroder Dana
    instrumen pasar uang melalui Reksa Dana Schroder          Obligasi Mantap Mutual Fund. Placement of funds in
    Dana Obligasi Mantap. Penempatan dana dalam               USD through investment in fixed income securities
    mata uang Dolar Amerika melalui investasi pada surat      traded on the Indonesia Stock Exchange and other
    berharga    dengan     pendapatan     tetap     yang      foreign exchanges as well as money market
    diperdagangkan di Bursa Efek Indonesia dan bursa          instruments through Investa Dana Dollar Mandiri
    luar negeri lainnya serta instrumen pasar uang            Mutual Fund.
    melalui Reksa Dana Investa Dana Dollar Mandiri.

    Mandiri Equity Money                                      Mandiri Equity Money
    Penempatan dana dengan instrumen investasi                Fund placements with LQ45 domestic equity
    ekuitas dalam negeri LQ45 melalui reksadana Mandiri       investment instruments through the Mandiri Index
    Index LQ45 yang dikelola oleh Mandiri Manajemen           LQ45 mutual fund managed by Mandiri Manajemen
    Investasi (“MMI”).                                        Investasi (“MMI”).

    Balance Fund Offshore                                     Balance Fund Offshore
    Reksadana yang komposisinya campuran ekuitas dan          Mutual funds which the composition is a mixture of
    obligasi dari pasar luar negeri yang dikelola oleh        equity and bonds from foreign markets managed by
    Entitas Anak.                                             Subsidiary.




                                                             236                                   ANNUAL REPORT 2023    1303
Page 797
            MAIN                       MANAGEMENT                        COMPANY                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                      ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            27. LIABILITAS KEPADA PEMEGANG POLIS PADA                     27. LIABILITIES     TO    UNIT-LINK     POLICYHOLDERS
                KONTRAK UNIT-LINK (lanjutan)                                  (continued)

                Money market                                                  Money market
                Penempatan dana berbasis pasar uang dengan                    Placement of money market fund with underlying
                investasi pada instrumen pasar uang yang meliputi             investments in money market instrument including time
                deposito berjangka dan surat berharga dengan                  deposits and fixed income securities traded in
                pendapatan tetap yang diperdagangkan di Bursa Efek            Indonesia Stock Exchange through Mandiri Investa
                Indonesia melalui Reksa Dana Mandiri Investa Pasar            Pasar Uang Mutual Fund.
                Uang.

                Excellent equity                                              Excellent equity
                Penempatan dana berbasis saham dengan dasar                   This is a share based fund placement with underlying
                investasi pada saham berkapitalisasi kecil (di luar 20        investments in small cap shares (exclude top 20 largest
                saham berkapitalisasi terbesar) di Bursa Efek                 capitalisation shares) listed in Indonesia Stock
                Indonesia dan instrumen pasar uang melalui Reksa              Exchange and money market instruments through
                Dana Mandiri Dynamic Equity.                                  Mandiri Dynamic Equity Mutual Fund.

                Fixed money                                                   Fixed money
                Penempatan dana berbasis pendapatan tetap dengan              This is a fixed income based fund placement with
                dasar investasi pada obligasi pemerintah Indonesia            underlying investments in Indonesian Government
                dan instrumen pasar uang melalui Reksa Dana                   Bonds and money market instruments through Mandiri
                Mandiri Investa Dana Obligasi II.                             Investa Dana Obligasi II Mutual Fund.

                Active money                                                  Active money
                Penempatan dana berbasis kombinasi (balanced                  This is a balanced fund placement with underlying
                fund) dengan investasi pada saham dan obligasi yang           investments in stocks and bonds traded in Indonesia
                diperdagangkan di Bursa Efek Indonesia dan                    Stock Exchange and money market instruments
                instrumen pasar uang melalui Reksa Dana Mandiri               through Mandiri Aktif Mutual Fund.
                Aktif.

                Mandiri Flexible Equity Offshore                              Mandiri Flexible Equity Offshore
                Reksadana campuran berbasis ekuitas dan pasar                 Mixed mutual fund with underlying investments in
                uang pada pasar luar negeri.                                  equity and money market in foreign markets.

                Protected money                                               Protected money
                Penempatan dana berbasis kombinasi (balanced                  Placement of funds based on combination (balanced
                fund) dengan investasi pada saham dan obligasi yang           fund) with investments in stocks and bonds traded in
                diperdagangkan di Bursa Efek Indonesia dan                    the Indonesia Stock Exchange and money market
                instrumen pasar uang dengan jangka waktu kurang               instruments with a maturity of less than 1 year.
                dari 1 tahun.

                Mandiri Multi Asset Balanced Offshore                         Mandiri Multi Asset Balanced Offshore
                Reksadana campuran berbasis pasar uang, ekuitas               Mixed mutual fund with underlying investments in
                dan surat berharga pasar luar negeri.                         money market, equity and foreign market securities.

                Mandiri Global Offshore                                       Mandiri Global Offshore
                Reksadana campuran berbasis ekuitas dan pasar                 Mixed mutual funds with underlying investments in
                uang pada pasar luar negeri.                                  equity and money market in foreign markets.

                Mandiri Fixed Income                                          Mandiri Fixed Income
                Reksadana berbasis pendapatan tetap dalam mata                Fixed-income mutual fund denominated in US Dollars,
                uang US Dollar, dengan penempatan underlying                  with the majority of its underlying investments in
                sebagian besar pada Surat Utang Negara Indonesia              Indonesian government bonds in US Dollars and the
                dalam mata uang US Dollar dan selebihnya dalam                remainder in money market instruments. This mutual
                instrument Pasar Uang. Reksadana ini dikelola oleh 2          fund is managed by two Investment Managers, namely
                Manajer Investasi, yaitu Architas Asset Management            Architas Asset Management and Mandiri Investment
                dan Mandiri Manajemen Investasi.                              Management.




1304 PT Bank Mandiri (Persero) Tbk                                          237
Page 798
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


27. LIABILITAS KEPADA PEMEGANG POLIS PADA                      27. LIABILITIES        TO    UNIT-LINK     POLICYHOLDERS
    KONTRAK UNIT-LINK (lanjutan)                                   (continued)

    Money market CS                                                   Money market CS
    Penempatan dana berbasis pasar uang dengan                        This is a fund placement with underlying investments in
    investasi pada instrumen pasar uang khususnya                     money market instrument, especially in time deposits
    deposito berjangka dengan berdasarkan pada prinsip                based on sharia principles.
    syariah.

    Rincian dari investasi unit-link syariah berdasarkan              The details of sharia unit-link investments based on the
    tipe kontrak adalah sebagai berikut:                              type of contracts are as follows:

                                                     2023                   2022

     Attractive money syariah                              312.625              457.164              Attractive money sharia
     Active money syariah                                  147.159              171.663                  Active money sharia
     Amanah Pendapatan Tetap                               140.398               63.714               Amanah Fixed Income
     Amanah equity syariah                                  34.572               51.474               Amanah equity sharia
     Advanced commodity syariah                             18.229               24.047          Advanced commodity sharia
     Amanah Pasar Uang Syariah                              14.760                7.218         Amanah Money Market Sharia

     Total                                                 667.743              775.280                                  Total


    Attractive money syariah                                          Attractive money sharia
    Penempatan dana berbasis ekuitas dengan dasar                     This is an equity based fund placement with underlying
    investasi   pada    saham   dan   obligasi   yang                 investments in stocks and bonds traded in Indonesia
    diperdagangkan di Bursa Efek Indonesia dan                        Stock Exchange and money market instruments in
    instrumen pasar uang berdasarkan prinsip syariah                  accordance with sharia principle through Mandiri
    melalui Reksa Dana Mandiri Saham Syariah Atraktif.                Saham Syariah Atraktif Mutual Fund.

    Active money syariah                                              Active money sharia
    Penempatan dana berbasis kombinasi (balanced                      This is a combination based fund with underlying
    fund) dengan dasar investasi pada saham dan                       investments in stocks and bonds traded in Indonesia
    obligasi yang diperdagangkan di Bursa Efek                        Stock Exchange and money market instruments in
    Indonesia dan instrumen pasar uang berdasarkan                    accordance with sharia principle through Mandiri
    prinsip syariah melalui Reksa Dana Mandiri                        Berimbang Syariah Aktif Mutual Fund.
    Berimbang Syariah Aktif.

    Amanah Pendapatan Tetap                                           Amanah Fixed Income
    Reksadana syariah dengan dasar investasi pada                     Sharia mutual fund with underlying investments of
    Sukuk atau Surat Berharga Syariah Negara.                         Sukuk and Sharia Government Bonds.

    Amanah equity syariah                                             Amanah equity sharia
    Penempatan dana berbasis ekuitas dengan dasar                     This is an equity based fund placement with underlying
    investasi pada saham yang diperdagangkan di Bursa                 investments in stocks traded in Indonesia Stock
    Efek Indonesia dan instrumen pasar uang                           Exchange and money market instruments in
    berdasarkan prinsip syariah melalui Reksa Dana BNP                accordance with sharia principle through BNP Paribas
    Paribas Pesona Amanah.                                            Pesona Amanah Mutual Fund.

    Advanced commodity syariah                                        Advanced commodity sharia
    Penempatan dana berbasis saham dengan dasar                       This is a share based fund placement with underlying
    investasi saham yang bergerak pada sektor                         investments in shares in the commodity sector and
    komoditas dan yang terkait dengan komoditas yang                  related to commodities traded in Indonesia Stock
    diperdagangkan di Bursa Efek Indonesia dan                        Exchange and money market instruments in
    instrumen pasar uang berdasarkan prinsip syariah                  accordance with sharia principle through Mandiri
    melalui Reksa Dana Mandiri Komoditas Syariah Plus.                Komoditas Syariah Plus Mutual Fund.

    Amanah Pasar Uang Syariah                                         Amanah Money Market Sharia
    Reksadana berbasis pendapatan tetap dengan dasar                  A fixed income based mutual fund with underlying
    investasinya pasar uang syariah dan efek-efek                     investments of sharia money market and sharia fixed
    syariah berpendapatan tetap.                                      income marketable securities.



                                                                     238                                   ANNUAL REPORT 2023    1305
Page 799
            MAIN                         MANAGEMENT                                   COMPANY                                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                                      PROFILE                                        ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                           (Expressed in millions of Rupiah, unless otherwise stated)


            28. LIABILITAS ATAS EFEK-EFEK YANG DIJUAL                                       28. SECURITIES SOLD UNDER AGREEMENTS TO
                DENGAN JANJI DIBELI KEMBALI                                                     REPURCHASE LIABILITIES
                                                                                            2023

                                                                                                                    Beban bunga
                                                                                                                     yang belum
                                            Nilai                              Tanggal               Nilai          diamortisasi/
                                          nominal/       Tanggal dimulai/   jatuh tempo/        beli kembali/       Unamortised         Nilai neto/
                         Jenis efek     Nominal value       Start date      Maturity date      Buy back value     interest expense      Net value          Type of securities


                  Mata uang asing                                                                                                                            Foreign currencies
                  Pihak ketiga                                                                                                                                     Third parties
                    FR0056                   2.309.509         25/02/2022       18/08/2026            2.633.011            194.026           2.438.985               FR0056
                    FR0086                   1.924.612         25/02/2022       16/03/2026            2.167.742            135.953           2.031.789               FR0086
                    FR0059                   1.959.726         05/09/2023       15/04/2027            2.035.525             35.652           1.999.873               FR0059
                  FR0086                     1.874.012         24/02/2022       13/03/2026            2.111.212            132.335           1.978.877               FR0086
                  FR0064                     1.885.736         05/09/2023       17/04/2028            1.984.147             59.285           1.924.862               FR0064
                  FR0056                     1.613.388         20/10/2023       20/09/2024            1.706.599             72.960           1.633.639               FR0056
                    FR0084                   1.539.391         31/10/2023       01/10/2024            1.629.045             73.111           1.555.934               FR0084
                    FR0081                   1.534.124         20/10/2023       20/09/2024            1.622.755             69.375           1.553.380               FR0081
                    FR0081                   1.465.940         20/10/2023       20/09/2024            1.550.633             66.292           1.484.341               FR0081
                    FR0059                   1.370.734         05/09/2023       15/04/2027            1.428.789             29.525           1.399.264               FR0059
                    FR0084                   1.098.563         05/09/2023       15/01/2026            1.127.814              6.746           1.121.068               FR0084
                    ROI 30 NEW                 882.267         01/11/2023       30/09/2024              931.380             40.143             891.237           ROI 30 NEW
                    FR0056                     832.502         24/02/2022       14/08/2026              948.527             69.440             879.087               FR0056
                    FR0091                     795.002         05/09/2023       04/09/2026              819.842              8.684             811.158               FR0091
                    FR0090                     757.812         24/02/2022       12/02/2027              875.270             74.911             800.359               FR0090
                    FR0092                     769.840         05/09/2023       08/09/2026              793.971              8.486             785.485               FR0092
                    FR0087                     775.430         20/10/2023       20/09/2024              820.012             34.896             785.116               FR0087
                    FR0091                     770.439         17/10/2023       17/09/2024              814.735             34.276             780.459               FR0091
                    FR0091                     744.689         05/09/2023       04/09/2026              767.957              8.134             759.823               FR0091
                    ROI 30 NEW                 720.137         26/10/2023       26/09/2024              761.137             32.824             728.313           ROI 30 NEW
                    ROI 30 NEW                 696.907         26/10/2023       26/09/2024              736.584             31.765             704.819           ROI 30 NEW
                    ROI 29 NEW                 629.936         01/11/2023       30/09/2024              665.003             28.663             636.340           ROI 29 NEW
                    US455780CY00               484.216         07/07/2022       07/07/2025              536.254             48.097             488.157       US455780CY00
                    US455780CQ75               415.415         26/04/2023       24/04/2026              491.159             72.435             418.724       US455780CQ75
                    US71567RAS58               406.845         14/12/2021       13/12/2024              430.729             22.840             407.889       US71567RAS58
                    US71567RAM88               364.720         14/12/2021       13/12/2024              386.131             20.476             365.655       US71567RAM88
                    FR0042                     350.690         05/09/2023       15/06/2027              365.495              7.564             357.931               FR0042
                    US455780CQ75               343.936         07/07/2022       07/07/2025              380.898             34.163             346.735       US455780CQ75
                    FR0090                     259.042         05/09/2023       15/03/2027              269.778              5.345             264.433               FR0090
                    US455780CS32               261.517         07/07/2022       07/07/2025              289.622             25.977             263.645       US455780CS32
                    US455780CY00               257.762         14/12/2021       13/12/2024              272.894             14.471             258.423       US455780CY00
                    INDON-280731               252.814         20/12/2021       20/12/2024              267.053             13.340             253.713         INDON-280731
                    INDOIS-010328              248.413         06/04/2023       06/04/2026              291.803             40.649             251.154        INDOIS-010328
                    INDOIS-090631              233.882         06/04/2023       06/04/2026              274.735             38.272             236.463        INDOIS-090631
                    INDOIS-200229              204.780         06/04/2023       06/04/2026              240.549             33.509             207.040        INDOIS-200229
                    US455780CQ75               198.360         14/12/2021       13/12/2024              210.004             11.136             198.868       US455780CQ75
                    US71567RAS58               190.738         07/07/2022       07/07/2025              211.236             18.946             192.290       US71567RAS58
                    INDOIS-290327              189.737         13/12/2021       13/12/2024              200.596             10.173             190.423        INDOIS-290327
                    US455780CS32               187.203         26/04/2023       24/04/2026              196.225              8.628             187.597       US455780CS32
                    US455780CV60               181.329         14/12/2021       13/12/2024              191.974             10.180             181.794       US455780CV60
                    US71567RAP10               165.965         26/04/2023       24/04/2026              221.336             52.953             168.383       US71567RAP10
                    ADGB-160430                161.576         27/01/2022       13/12/2024              170.020              7.910             162.110          ADGB-160430
                    QATAR-140329               157.280         15/12/2021       13/12/2024              165.836              8.015             157.821        QATAR-140329
                    INDON-170138               149.782         06/04/2023       06/04/2026              175.945             24.510             151.435         INDON-170138
                    INDON-080126               149.171         13/12/2021       13/12/2024              157.709              7.999             149.710         INDON-080126
                    INDOIS-290326              147.757         15/12/2021       13/12/2024              155.795              7.530             148.265        INDOIS-290326
                    INDON-151030               145.153         13/01/2022       13/12/2024              153.226              7.563             145.663         INDON-151030
                    INDON-120331               143.580         06/04/2023       06/04/2026              168.659             23.494             145.165         INDON-120331
                    US71567RAP10               135.739         07/07/2022       07/07/2025              150.327             13.483             136.844       US71567RAP10
                    PELIN-25                   136.341         08/12/2023       08/03/2024              136.341                  -             136.341              PELIN-25
                    US455780CK06               123.415         07/07/2022       07/07/2025              136.678             12.259             124.419       US455780CK06
                    INDON-280731               123.014         06/04/2023       06/04/2026              144.501             20.129             124.372         INDON-280731
                    INDOIS-010328              113.191         03/03/2022       13/12/2024              119.196              5.626             113.570        INDOIS-010328
                    INDOIS-200229              104.676         13/01/2022       13/12/2024              110.498              5.454             105.044        INDOIS-200229
                    INDON-240428               102.697         06/04/2023       06/04/2026              120.635             16.805             103.830         INDON-240428
                    INDON-170237               101.980         06/04/2023       06/04/2026              119.793             16.687             103.106         INDON-170237
                    INDON-180929                95.837         06/04/2023       06/04/2026              112.577             15.682              96.895         INDON-180929
                    PERTM-270625                95.867         27/06/2022       27/06/2025               95.867                  -              95.867       PERTM-270625
                    KSA-020233                  95.061         13/12/2021       13/12/2024              100.502              5.096              95.406           KSA-020233
                    INDOIS-230630               79.250         06/04/2023       06/04/2026               93.093             12.969              80.124        INDOIS-230630
                    ADGB-111027                 74.130         13/01/2022       13/12/2024               78.252              3.862              74.390          ADGB-111027
                    QATAR-160425                73.894         15/12/2021       13/12/2024               77.914              3.766              74.148        QATAR-160425
                    KSA-291029(SUKUK)           72.252         13/01/2022       13/12/2024               76.270              3.764              72.506   KSA-291029(SUKUK)
                    US455780CK06                68.430         14/12/2021       13/12/2024               72.448              3.842              68.606       US455780CK06
                    INDON-110128                68.055         16/02/2022       13/12/2024               71.543              3.268              68.275         INDON-110128
                    KSA-020233                  65.434         03/03/2022       20/12/2024               68.874              3.222              65.652           KSA-020233
                    INDON-280731                65.274         15/12/2021       13/12/2024               68.824              3.326              65.498         INDON-280731
                    INDOIS-090626               63.033         20/12/2021       20/12/2024               66.583              3.326              63.257        INDOIS-090626
                    INDOIS-290327               56.418         06/04/2023       06/04/2026               66.273              9.232              57.041        INDOIS-290327
                    INDON-151030                44.174         13/12/2021       13/12/2024               46.702              2.368              44.334         INDON-151030
                    INDON-170237                44.072         16/02/2022       13/12/2024               46.331              2.116              44.215         INDON-170237
                    INDOIS-010328               43.327         20/12/2021       20/12/2024               45.767              2.286              43.481        INDOIS-010328
                    US455780CQ75                39.672         14/12/2021       13/12/2024               42.001              2.227              39.774       US455780CQ75
                    INDOIS-090631               39.537         13/12/2021       13/12/2024               41.800              2.120              39.680        INDOIS-090631
                    INDON-280731                37.922         20/12/2021       20/12/2024               40.058              2.001              38.057         INDON-280731
                    INDON-240428                29.303         13/12/2021       13/12/2024               30.980              1.571              29.409         INDON-240428
                    INDON-140230                27.416         13/12/2021       13/12/2024               28.985              1.470              27.515         INDON-140230
                    INDON-180929                27.379         16/02/2022       13/12/2024               28.782              1.314              27.468         INDON-180929
                    KSA-020233                  26.174         03/03/2022       13/12/2024               27.562              1.301              26.261           KSA-020233
                    INDOIS-230630               23.201         13/12/2021       13/12/2024               24.529              1.245              23.284        INDOIS-230630
                    US71567RAM88                22.467         14/12/2021       13/12/2024               23.786              1.262              22.524       US71567RAM88
                    INDOIS-200229               15.123         13/12/2021       13/12/2024               15.988                811              15.177        INDOIS-200229

                Total mata uang asing                                                                                                                     Total foreign currencies
                 (Catatan 62.B.(iv))        35.536.114                                               38.337.611          2.007.547          36.330.064           (Note 62.B.(iv))
                Total                       35.536.114                                               38.337.611          2.007.547          36.330.064                      Total




1306 PT Bank Mandiri (Persero) Tbk                                                             239
Page 800
     CORPORATE                         ESG COMMITMENTS                               SOCIAL AND ENVIRONMENTAL                              LAPORAN
                                                                                                                                             Financial
     GOVERNANCE                        & PRACTICES                                   RESPONSIBILITY                                        KEUANGAN   2023
                                                                                                                                             Statements 2023


                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


28. LIABILITAS ATAS EFEK-EFEK YANG DIJUAL                                           28. SECURITIES SOLD UNDER AGREEMENTS TO
    DENGAN JANJI DIBELI KEMBALI (lanjutan)                                              REPURCHASE LIABILITIES (continued)

                                                                                    2022

                                                                                                            Beban bunga
                                                                                                             yang belum
                                    Nilai                              Tanggal               Nilai          diamortisasi/
                                  nominal/       Tanggal dimulai/   jatuh tempo/        beli kembali/       Unamortised      Nilai neto/
             Jenis efek         Nominal value       Start date      Maturity date      Buy back value     interest expense   Net value           Type of securities


    Rupiah                                                                                                                                                       Rupiah
     Pihak ketiga                                                                                                                                         Third parties
       FR0082                        1.000.000         15/03/2022       14/03/2023             974.836               7.225          967.611                 FR0082
       FR0046                           30.000         10/11/2022       09/02/2023              31.621                 192           31.429                 FR0046
       FR0088                           30.000         01/12/2022       02/03/2023              26.848                 273           26.575                 FR0088
       FR0059                           20.000         29/12/2022       30/03/2023              19.947                 307           19.640                 FR0059
       FR0059                           20.000         06/12/2022       07/03/2023              19.829                 219           19.610                 FR0059
       FR0059                           20.000         27/12/2022       28/03/2023              19.908                 299           19.609                 FR0059
       FR0059                           20.000         01/11/2022       31/01/2023              19.688                  92           19.596                 FR0059
       FR0059                           20.000         13/12/2022       14/03/2023              19.836                 242           19.594                 FR0059
       FR0046                           10.000         22/11/2022       21/02/2023              10.543                  90           10.453                 FR0046
    Total Rupiah                     1.170.000                                                1.143.056              8.939        1.134.117                Total Rupiah

    Mata uang asing                                                                                                                                  Foreign currencies
     Pihak ketiga                                                                                                                                         Third parties
       FR0056                        2.137.300         25/02/2022       18/08/2026            2.652.178            256.973        2.395.205                  FR0056
       FR0086                        2.008.000         25/02/2022       16/03/2026            2.183.521            187.830        1.995.691                  FR0086
       FR0086                        2.000.000         24/02/2022       13/03/2026            2.126.580            183.038        1.943.542                  FR0086
       FR0081                        1.676.000         13/07/2022       13/06/2023            1.604.717             22.921        1.581.796                  FR0081
       FR0073                        1.571.000         27/07/2022       27/06/2023            1.602.837             24.860        1.577.977                  FR0073
       FR0082                        1.472.000         21/07/2022       06/07/2023            1.338.510             21.462        1.317.048                  FR0082
       FR0087                        1.524.000         21/07/2022       06/07/2023            1.338.179             21.457        1.316.722                  FR0087
       FR0091                        1.560.000         21/07/2022       06/07/2023            1.337.687             21.449        1.316.238                  FR0091
       FR0056                          790.000         24/02/2022       14/08/2026              955.431             92.041          863.390                  FR0056
       FR0091                          858.716         09/08/2022       25/07/2023              804.493             15.292          789.201                  FR0091
       FR0091                          858.551         10/08/2022       26/07/2023              804.484             15.367          789.117                  FR0091
       FR0090                          824.000         24/02/2022       12/02/2027              881.642             95.647          785.995                  FR0090
       Obligasi INDON-072831           691.197         07/07/2022       07/07/2025              542.193             44.070          498.123     Bond INDON-072831
       Obligasi US71567RAS58           498.160         14/12/2021       13/12/2024              435.499             23.751          411.748    Bond US71567RAS58
       Obligasi US71567RAM88           389.188         14/12/2021       13/12/2024              390.407             21.292          369.115    Bond US71567RAM88
       Obligasi INDON-021430           451.458         07/07/2022       07/07/2025              385.116             31.302          353.814     Bond INDON-021430
       FR0090                          400.000         21/07/2022       21/06/2023              344.177              5.157          339.020                  FR0090
       Obligasi INDON-101530           323.026         07/07/2022       07/07/2025              292.829             23.801          269.028     Bond INDON-101530
       Obligasi US455780CY00           319.134         14/12/2021       13/12/2024              275.916             15.048          260.868    Bond US455780CY00
       Obligasi INDON-280731           311.350         20/12/2021       20/12/2024              270.010             14.169          255.841     Bond INDON-280731
       Obligasi US455780CQ75           233.513         14/12/2021       13/12/2024              212.330             11.580          200.750    Bond US455780CQ75
       Obligasi INDOIS-060931          264.648         07/07/2022       07/07/2025              213.575             17.359          196.216     Bond INDOIS-060931
       FR0056                          200.000         21/07/2022       21/06/2023              195.542              2.931          192.611                  FR0056
       Obligasi INDOIS-290327          202.378         13/12/2021       13/12/2024              202.818             10.807          192.011     Bond INDOIS-290327
       Obligasi US455780CV60           229.621         14/12/2021       13/12/2024              194.100             10.586          183.514    Bond US455780CV60
       Obligasi ADGB-160430            155.675         27/01/2022       13/12/2024              171.903              8.403          163.500      Bond ADGB-160430
       Obligasi QATAR-140329           155.675         15/12/2021       13/12/2024              167.672              8.513          159.159     Bond QATAR-140329
       Obligasi INDON-080126           155.675         13/12/2021       13/12/2024              159.455              8.496          150.959     Bond INDON-080126
       Obligasi INDOIS-290326          155.675         15/12/2021       13/12/2024              157.520              7.998          149.522     Bond INDOIS-290326
       Obligasi INDON-151030           155.675         13/01/2022       13/12/2024              154.923              8.034          146.889     Bond INDON-151030
       Obligasi INDOIS-062330          182.918         07/07/2022       07/07/2025              151.992             12.354          139.638     Bond INDOIS-062330
       Obligasi INDON-091829           155.675         07/07/2022       07/07/2025              138.191             11.232          126.959     Bond INDON-091829
       Obligasi INDOIS-010328          124.540         03/03/2022       13/12/2024              120.516              5.976          114.540     Bond INDOIS-010328
       Obligasi INDOIS-200229          108.973         13/01/2022       13/12/2024              111.721              5.793          105.928     Bond INDOIS-200229
       Obligasi PERTM-270625            96.929         27/06/2022       27/06/2025               96.929                  -           96.929     Bond PERTM-270625
       Obligasi KSA-020233             108.973         13/12/2021       13/12/2024              101.616              5.415           96.201     Obligasi KSA-020233
       FR0077                          100.000         21/07/2022       21/06/2023               95.243              1.427           93.816                  FR0077
       FR0070                          100.000         21/07/2022       21/06/2023               94.857              1.422           93.435                  FR0070
       FR0081                          100.000         21/07/2022       21/06/2023               91.952              1.378           90.574                  FR0081
       FR0086                          100.000         21/07/2022       21/06/2023               88.176              1.321           86.855                  FR0086
       Obligasi ADGB-111027             77.838         13/01/2022       13/12/2024               79.119              4.103           75.016      Bond ADGB-111027
       Obligasi QATAR-160425            77.838         15/12/2021       13/12/2024               78.776              3.999           74.777     Bond QATAR-160425
       Obligasi KSA-291029              77.838         13/01/2022       13/12/2024               77.115              3.999           73.116       Bond KSA-291029
       Obligasi US455780CK06            77.838         14/12/2021       13/12/2024               73.250              3.995           69.255    Bond US455780CK06
       Obligasi INDON-110128            77.838         16/02/2022       13/12/2024               72.336              3.472           68.864     Bond INDON-110128
       Obligasi KSA-020233              77.838         03/03/2022       20/12/2024               69.637              3.423           66.214       Bond KSA-020233
       Obligasi INDON-280731            77.838         15/12/2021       13/12/2024               69.586              3.533           66.053     Bond INDON-280731
       Obligasi INDOIS-090626           77.838         20/12/2021       20/12/2024               67.320              3.532           63.788     Bond INDOIS-090626
       Obligasi INDON-151030            46.703         13/12/2021       13/12/2024               47.220              2.516           44.704     Bond INDON-151030
       Obligasi INDON-170237            39.697         16/02/2022       13/12/2024               46.844              2.248           44.596     Bond INDON-170237
       Obligasi INDOIS-010328           46.703         20/12/2021       20/12/2024               46.274              2.428           43.846     Bond INDOIS-010328
       Obligasi US455780CQ75            46.703         14/12/2021       13/12/2024               42.466              2.316           40.150    Bond US455780CQ75
       Obligasi INDOIS-090631           46.703         13/12/2021       13/12/2024               42.263              2.252           40.011     Bond INDOIS-090631
       Obligasi INDON-280731            46.703         20/12/2021       20/12/2024               40.502              2.126           38.376     Bond INDON-280731
       Obligasi INDON-240428            31.135         13/12/2021       13/12/2024               31.323              1.669           29.654     Bond INDON-240428
       Obligasi INDON-140230            31.135         13/12/2021       13/12/2024               29.306              1.562           27.744     Bond INDON-140230
       Obligasi INDON-180929            31.135         16/02/2022       13/12/2024               29.101              1.396           27.705     Bond INDON-180929
       Obligasi KSA-020233              31.135         03/03/2022       13/12/2024               27.868              1.382           26.486       Bond KSA-020233
       Obligasi INDOIS-230630           26.465         13/12/2021       13/12/2024               24.800              1.321           23.479     Bond INDOIS-230630
       Obligasi US71567RAM88            23.974         14/12/2021       13/12/2024               24.049              1.312           22.737    Bond US71567RAM88
       Obligasi INDOIS-200229           15.568         13/12/2021       13/12/2024               16.165                863           15.302     Bond INDOIS-200229
    Total mata uang asing                                                                                                                        Total foreign currencies
     (Catatan 62.B.(iv))            24.836.086                                               24.522.757          1.331.399       23.191.358             (Note 62.B.(iv))
    Total                           26.006.086                                               25.665.813          1.340.338       24.325.475                        Total




                                                                                       240                                                  ANNUAL REPORT 2023              1307
Page 801
            MAIN                        MANAGEMENT                       COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                          PROFILE                            ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            29. LIABILITAS AKSEPTASI                                       29. ACCEPTANCE PAYABLES

                a.   Berdasarkan jenis mata uang, pihak berelasi dan              a.   By currencies, related parties and third parties:
                     pihak ketiga:

                                                                 2023                    2022

                     Rupiah                                                                                                          Rupiah
                         Liabilitas kepada bank lain                                                            Payables to other banks
                             Pihak berelasi (Catatan 56)           1.890.413               1.512.348          Related parties (Note 56)
                             Pihak ketiga                          6.473.697               2.202.157                       Third parties

                         Liabilitas kepada debitur                                                                  Payables to debtors
                             Pihak berelasi (Catatan 56)               118.031               206.010          Related parties (Note 56)
                             Pihak ketiga                              703.350               556.252                       Third parties

                     Total                                         9.185.491               4.476.767                                       Total

                     Mata uang asing                                                                                    Foreign currencies
                         Liabilitas kepada bank lain                                                             Payables to other banks
                             Pihak berelasi (Catatan 56)             587.133                  13.103          Related parties (Note 56)
                             Pihak ketiga                          4.798.970               7.148.586                       Third parties

                         Liabilitas kepada debitur                                                                   Payables to debtors
                             Pihak berelasi (Catatan 56)                18.684                18.662          Related parties (Note 56)
                             Pihak ketiga                              203.610               124.463                       Third parties

                     Total (Catatan 62.B.(iv))                     5.608.397               7.304.814                   Total (Note 62.B.(iv))

                                                                  14.793.888             11.781.581


                b.   Berdasarkan jatuh tempo:                                     b.   By maturity:

                                                                 2023                    2022

                     Rupiah                                                                                                         Rupiah
                         Kurang dari 1 bulan                       1.294.293                 966.825                   Less than 1 month
                         1 - 3 bulan                               3.875.992               1.783.794                         1 - 3 months
                         3 - 6 bulan                               4.015.206               1.725.640                         3 - 6 months
                         6 - 12 bulan                                      -                     508                       6 - 12 months

                     Total                                         9.185.491               4.476.767                                       Total

                     Mata uang asing                                                                                     Foreign currencies
                         Kurang dari 1 bulan                       1.388.088               2.262.567                   Less than 1 month
                         1 - 3 bulan                               2.167.759               3.048.233                         1 - 3 months
                         3 - 6 bulan                               1.748.610               1.742.471                         3 - 6 months
                         6 - 12 bulan                                204.009                 250.856                        6 - 12 months
                         Lebih dari 12 bulan                          99.931                     687                 More than 12 months

                     Total (Catatan 62.B.(iv))                     5.608.397               7.304.814                   Total (Note 62.B.(iv))

                                                                  14.793.888             11.781.581




1308 PT Bank Mandiri (Persero) Tbk                                               241
Page 802
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN                                  30. DEBT SECURITIES ISSUED

                                                     2023                    2022

     Rupiah                                                                                                             Rupiah
       Pihak berelasi (Catatan 56)                                                                 Related parties (Note 56)
            Obligasi                                   4.839.450                4.748.550                           Bonds
            Subordinoted notes syariah                                                                  Subordinated notes
              mudharabah                                    25.000               455.000             sharia mudharabah
            Sertifikat Investasi                                                                    Interbank Mudharabah
              Mudharabah Antarbank                                                                Investment Certificate
              (SIMA)                                       226.985               400.000                         (SIMA)

                                                       5.091.435                5.603.550

         Pihak ketiga                                                                                           Third parties
             Obligasi                                 15.440.301             13.550.355                              Bonds
             Sertifikat Investasi                                                                  Interbank Mudharabah
               Mudharabah Antarbank                                                              Investment Certificate
               (SIMA)                                  1.401.191                1.675.000                         (SIMA)
             Subordinated notes syariah                                                               Subordinated notes
               mudharabah                                  175.000               920.000            sharia mudharabah
             Cek perjalanan Mandiri                         62.799                64.402        Mandiri travelers’ cheques
             Sukuk Mudharabah                                                                         Sukuk Mudharabah
               Muqayyadah I Tahap I                          3.608                      -        Muqayyadah I Phase I

                                                      17.082.899             16.209.757

                                                      22.174.334             21.813.307
     Mata uang asing (Catatan 62.B.(iv))                                                    Foreign currencies (Note 62.B.(iv))
        Pihak ketiga                                                                                            Third parties
            Obligasi                                  28.421.722             24.034.300                             Bonds

                                                      50.596.056             45.847.607
     Dikurangi: biaya penerbitan yang                                                                  Less: unamortised debt
        belum diamortisasi                                 (78.292)              (73.468)                     issuance cost

     Neto                                             50.517.764             45.774.139                                        Net


    Obligasi                                                           Bonds

    Bank Mandiri                                                       Bank Mandiri

    Rupiah                                                             Rupiah

    Pada tanggal 4 Juli 2023, Bank Mandiri menerbitkan                 On 4 July 2023, Bank Mandiri issued Continuous
    Obligasi Berwawasan Lingkungan Berkelanjutan I                     Green Bond I Bank Mandiri Phase I Year 2023
    Bank Mandiri Tahap I Tahun 2023 (“Obligasi                         (“Continuous Green Bond I Phase I”) with total nominal
    Berwawasan Lingkungan Berkelanjutan I Tahap I”)                    value Rp5,000,000, which consist of 2 (two) series:
    dengan nilai nominal sebesar Rp5.000.000 yang
    terdiri atas 2 (dua) seri:

                                                     Tingkat bunga tetap
                                                          per tahun/
                             Nilai nominal/           Fixed interest rate             Jatuh tempo/
         Obligasi            Nominal value                per annum                   Maturity date               Bonds
    Seri A                              1.950.000                       5,80%           4 Juli/July 2026              Series A
    Seri B                              3.050.000                       6,10%           4 Juli/July 2028              Series B




                                                                      242                                   ANNUAL REPORT 2023       1309
Page 803
            MAIN                       MANAGEMENT                         COMPANY                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                      ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                      30. DEBT SECURITIES ISSUED (continued)
                Obligasi (lanjutan)                                            Bonds (continued)
                Bank Mandiri (lanjutan)                                        Bank Mandiri (continued)
                Rupiah (lanjutan)                                              Rupiah (continued)
                Obligasi Berwawasan Lingkungan Berkelanjutan I                 Continuous Green Bond I Phase I is offered at 100%
                Tahap I ditawarkan dengan nilai 100% (seratus                  (one hundred percent) of the principal amount of
                persen) dari jumlah pokok obligasi. Bunga obligasi             bonds. The bond interest is paid on quarterly basis
                dibayarkan setiap triwulan, dengan pembayaran                  with the first interest payment made on 4 October
                bunga pertama dilakukan pada tanggal 4 Oktober                 2023, while the last interest payment and maturity date
                2023, sedangkan pembayaran bunga terakhir                      of the bonds is on 4 July 2026 for Series A and 4 July
                sekaligus jatuh tempo obligasi adalah pada tanggal 4           2028 for Series B which is also the redemption date of
                Juli 2026 untuk seri A dan 4 Juli 2028 untuk seri B            the principal of each series of bonds. The payments of
                yang juga merupakan tanggal pelunasan pokok dari               the bonds principal will be fully paid on the maturity
                masing-masing seri obligasi. Pembayaran pokok                  date. The trustee of the bond issuance of Continuous I
                obligasi dilakukan secara penuh pada saat tanggal              Phase I is PT Bank Negara Indonesia (Persero) Tbk.
                jatuh tempo. Wali amanat dari penerbitan Obligasi              All funds obtained from the issuance of this public
                Berwawasan Lingkungan Berkelanjutan I Tahap I                  offering, after omitting issuance cost, will be used
                adalah PT Bank Negara Indonesia (Persero) Tbk.                 entirely on the financing or refinancing of
                Seluruh dana yang diperoleh dari hasil Penawaran               Environmental Based Business Activity (hereinafter
                Umum Obligasi Berwawasan Lingkungan ini, setelah               abbreviated as KUBL or Kegiatan Usaha Berwawaan
                dikurangi biaya-biaya Emisi, akan digunakan                    Lingkungan (KUBL) as regulated on Financial Services
                seluruhnya untuk melakukan pembiayaan (finance)                Authority         (FSA)        Regulation       (POJK)
                atau pembiayaan ulang (refinance) atas kegiatan-               No.60/POJK.04/2017 concerning Issuance and
                kegiatan yang termasuk dalam kategori Kegiatan                 Regulation of Green Bond as amended by POJK
                Usaha        Berwawasan      Lingkungan      (KUBL)            No. 18/2023 concerning Issuance And Requirements
                sebagaimana diatur dalam Peraturan Otoritas Jasa               Of Sustainability Debt And Sukuk Securities, with
                Keuangan (POJK) No. 60/POJK.04/2017 tentang                    allocation of at least 70% (seventy percent) goes to the
                Penerbitan dan Persyaratan Efek Bersifat Utang                 financing of Environmental Based Business Activity.
                Berwawasan Lingkungan (Green Bond) sebagaimana
                diubah dengan POJK No. 18/2023 tentang Penerbitan
                Dan Persyaratan Efek Bersifat Utang Dan Sukuk
                Berlandaskan Keberlanjutan, dengan porsi paling
                sedikit sebesar 70% (tujuh puluh persen) digunakan
                untuk membiayai KUBL.
                Pada tanggal 31 Desember 2023, peringkat Obligasi              As of 31 December 2023, Continuous Green Bond I
                Berwawasan Lingkungan Berkelanjutan I Tahap I                  Phase I rating according to Pefindo is idAAA (triple A).
                menurut Pefindo adalah idAAA (triple A).

                Pada tanggal 12 Mei 2020, Bank Mandiri menerbitkan             On 12 May 2020, Bank Mandiri issued Continuous
                Obligasi Berkelanjutan II Bank Mandiri Tahap I Tahun           Bonds II Bank Mandiri Phase I Year 2020 (“Continuous
                2020 (“Obligasi Berkelanjutan II Tahap I”) dengan nilai        Bonds II Phase I”) with total nominal value
                nominal sebesar Rp1.000.000 yang terdiri atas 2                Rp1,000,000, which consist of 2 (two) series:
                (dua) seri:
                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                          Nilai nominal/          Fixed interest rate         Jatuh tempo/
                     Obligasi             Nominal value               per annum               Maturity date               Bonds
                Seri A                              350.000                     7,75%          12 Mei/May 2025                Series A
                Seri B                              650.000                     8,30%          12 Mei/May 2027                Series B
                Obligasi Berkelanjutan II Tahap I ditawarkan dengan            Continuous Bonds II Phase I is offered at 100% (one
                nilai 100% ( erratus persen) dari jumlah pokok                 hundred percent) of the principal amount of bonds. The
                obligasi. Bunga obligasi dibayarkan setiap triwulan,           bond interest is paid on quarterly basis with the first
                dengan pembayaran bunga pertama dilakukan pada                 interest payment was made on 12 August 2020, while
                tanggal 12 Agustus 2020, sedangkan pembayaran                  the last interest payment and maturity date of the
                bunga terakhir sekaligus jatuh tempo obligasi adalah           bonds will be on 12 May 2025 for Series A and 12 May
                pada tanggal 12 Mei 2025 untuk seri A dan 12 Mei               2027 for Series B which is also the redemption date of
                2027 untuk seri B yang juga merupakan tanggal                  the principal of each series of bonds. The payments of
                pelunasan pokok dari masing-masing seri obligasi.              the bonds principal will be fully paid on the maturity
                Pembayaran pokok obligasi dilakukan secara penuh               date. The trustee of the bond issuance of Shelf
                pada saat tanggal jatuh tempo. Wali amanat dari                Registration Bonds II Phase I is PT Bank Permata Tbk.
                penerbitan Obligasi Berkelanjutan II Tahap I adalah
                PT Bank Permata Tbk.


1310 PT Bank Mandiri (Persero) Tbk                                           243
Page 804
     CORPORATE                 ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                        Financial
     GOVERNANCE                & PRACTICES                     RESPONSIBILITY                         KEUANGAN   2023
                                                                                                        Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

    Obligasi (lanjutan)                                           Bonds (continued)

    Bank Mandiri (lanjutan)                                       Bank Mandiri (continued)

    Rupiah (lanjutan)                                             Rupiah (continued)

    Pada tanggal 31 Desember 2023 dan 2022, peringkat             As of 31 December 2023 and 2022 based on Pefindo’s
    Obligasi Berkelanjutan II Tahap I menurut Pefindo             rating, the Continuous Bonds II Phase I was rated
    adalah idAAA (triple A).                                      idAAA (triple A).

    Pada tanggal 21 September 2018, Bank Mandiri                  On 21 September 2018, Bank Mandiri issued
    menerbitkan Obligasi Berkelanjutan I Bank Mandiri             Continuous Bonds I Bank Mandiri Phase III Year 2018
    Tahap III Tahun 2018 (“Obligasi Berkelanjutan I               (“Continuous Bonds I Phase III”) with total nominal
    Tahap III”) dengan nilai nominal sebesar Rp3.000.000          value Rp3,000,000 as below:
    sebagai berikut:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date               Bonds

    Obligasi                                                                                                  Continuous
     Berkelanjutan I                                                                                            Bond I
     Tahap III                        3.000.000                    8,50%        21 September 2023             Phase III

    Obligasi Berkelanjutan I Tahap III ditawarkan dengan          Continuous Bonds I Phase III is offered at 100% (one
    nilai 100% (seratus persen) dari jumlah pokok                 hundred percent) of the principal amount of bonds. The
    obligasi. Bunga obligasi dibayarkan setiap triwulan,          bond interest is paid on quarterly basis with the first
    dengan pembayaran bunga pertama dilakukan pada                interest payment was made on 21 December 2018,
    tanggal 21 Desember 2018, sedangkan pembayaran                while the last interest payment and maturity date of the
    bunga terakhir sekaligus jatuh tempo obligasi adalah          bonds on 21 September 2023 which is also the
    pada tanggal 21 September 2023 yang juga                      redemption date of the principal amount of bonds. The
    merupakan tanggal pelunasan pokok obligasi.                   payment of the bonds principal fully paid on the
    Pembayaran pokok obligasi telah dilakukan secara              maturity date. The trustee of the Continuous Bonds I
    penuh pada saat tanggal jatuh tempo. Wali amanat              Phase III issuance is PT Bank Permata Tbk.
    dari penerbitan Obligasi Berkelanjutan I Tahap III
    adalah PT Bank Permata Tbk.

    Pada tanggal 15 Juni 2017, Bank Mandiri                       On 15 June 2017, Bank Mandiri issued Continuous
    menerbitkan Obligasi Berkelanjutan I Bank Mandiri             Bonds I Bank Mandiri Phase II Year 2017 (“Continuous
    Tahap II Tahun 2017 (“Obligasi Berkelanjutan I Tahap          Bonds I Phase II”) with total nominal value of
    II”) dengan nilai nominal sebesar Rp6.000.000 yang            Rp6,000,000, which consist of 4 (four) series:
    terdiri atas 4 (empat) seri:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date               Bonds

    Seri A                            1.000.000                    8,00%         15 Juni/June 2022               Series A
    Seri B                            3.000.000                    8,50%         15 Juni/June 2024               Series B
    Seri C                            1.000.000                    8,65%         15 Juni/June 2027               Series C
    Seri D                            1.000.000                    7,80%         15 Juni/June 2020               Series D




                                                                244                                    ANNUAL REPORT 2023    1311
Page 805
            MAIN                       MANAGEMENT                       COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                       ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                           Bonds (continued)

                Bank Mandiri (lanjutan)                                       Bank Mandiri (continued)

                Rupiah (lanjutan)                                             Rupiah (continued)

                Obligasi Berkelanjutan I Tahap II Seri A, Seri B dan          Continuous Bonds I Phase II Series A, Series B and
                Seri C ditawarkan dengan nilai 100% (seratus persen)          Series C are offered at 100% (one hundred percent) of
                dari jumlah pokok obligasi. Bunga obligasi dibayarkan         the principal amount of the bonds. The interest of the
                setiap triwulan, dengan pembayaran bunga pertama              bond is paid on quarterly basis, with the first payment
                dilakukan pada tanggal 15 September 2017                      made on 15 September 2017 while the last interest
                sedangkan pembayaran bunga terakhir sekaligus                 payment date and maturity date of the bonds are on
                jatuh tempo obligasi adalah pada tanggal 15 Juni              15 June 2022 for Series A, 15 June 2024 for Series B
                2022 untuk Seri A, 15 Juni 2024 untuk Seri B dan 15           and 15 June 2027 for Series C which is also the
                Juni 2027 untuk Seri C yang juga merupakan tanggal            redemption date of the principal of each series of
                pelunasan pokok dari masing-masing seri obligasi.             bonds. Series D bonds are offered without interest at a
                Obligasi Seri D ditawarkan tanpa bunga dengan                 bid price of 79.3146% (seventy nine point three one
                harga penawaran senilai 79,3146% (tujuh puluh                 four six percent) of the principal amount of bonds and
                sembilan koma tiga satu empat enam persen) dari               the maturity date is 15 June 2020 date while for series
                jumlah pokok obligasi dan telah jatuh tempo pada              A the maturity date is 15 June 2022. The payments of
                tanggal 15 Juni 2020, sedangkan untuk seri A telah            the bonds principal will be fully paid on the maturity
                jatuh tempo pada tanggal 15 Juni 2022. Pembayaran             date. The trustee of the Continuous Bonds I Phase II
                pokok obligasi dilakukan secara penuh pada saat               issuance is PT Bank Tabungan Negara (Persero) Tbk.
                tanggal jatuh tempo. Wali amanat dari penerbitan
                Obligasi Berkelanjutan I Tahap II adalah PT Bank
                Tabungan Negara (Persero) Tbk.

                Pada tanggal 30 September 2016, Bank Mandiri                  On 30 September 2016, Bank Mandiri issued
                menerbitkan Obligasi Berkelanjutan I Bank Mandiri             Continuous Bonds I Bank Mandiri Phase I Year 2016
                Tahap I Tahun 2016 (“Obligasi Berkelanjutan I Tahap           (“Continuous Bonds I Phase I”) with total nominal value
                I”) dengan nilai nominal sebesar Rp5.000.000 yang             of Rp5,000,000 which consist of 3 (three) series:
                terdiri atas 3 (tiga) seri:

                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                          Nilai nominal/          Fixed interest rate        Jatuh tempo/
                     Obligasi             Nominal value               per annum              Maturity date               Bonds

                Seri A                            1.100.000                    7,95%        30 September 2021                Series A
                Seri B                            1.500.000                    8,50%        30 September 2023                Series B
                Seri C                            2.400.000                    8,65%        30 September 2026                Series C

                Bunga Obligasi Berkelanjutan I Tahap I dibayarkan             The interest of Continuous Bonds I Phase I is paid on
                setiap triwulan, dengan pembayaran bunga pertama              quarterly basis, with the first interest payment made on
                dilakukan pada tanggal 30 Desember 2016                       30 December 2016 while the last interest and principal
                sedangkan pembayaran bunga obligasi terakhir                  payment date of the bonds are on 30 September 2021
                sekaligus jatuh tempo obligasi adalah 30 September            for Series A, 30 September 2023 for Series B and
                2021 untuk Seri A, 30 September 2023 untuk Seri B,            30 September 2026 for Series C which is also the
                dan 30 September 2026 untuk seri C yang juga                  redemption date the principal of each series of bonds.
                merupakan tanggal pelunasan pokok dari masing-                Principal payment for Series A and Series B fully paid
                masing seri obligasi. Pembayaran pokok obligasi               on the maturity date. The trustee for Continuous Bonds
                untuk Seri A dan Seri B telah dilakukan secara penuh          I Phase I is PT Bank Tabungan Negara (Persero) Tbk.
                pada saat tanggal jatuh tempo. Wali amanat dari
                penerbitan Obligasi Berkelanjutan I Tahap I adalah
                PT Bank Tabungan Negara (Persero) Tbk.




1312 PT Bank Mandiri (Persero) Tbk                                          245
Page 806
     CORPORATE                 ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                & PRACTICES                     RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

    Obligasi (lanjutan)                                           Bonds (continued)

    Bank Mandiri (lanjutan)                                       Bank Mandiri (continued)

    Rupiah (lanjutan)                                             Rupiah (continued)

    Selama berlakunya jangka waktu Obligasi dan                   During the validity periods of the Bonds and prior to the
    sebelum dilunasinya jumlah terhutang, Bank Mandiri            repayment of the bonds, Bank Mandiri has to comply
    berkewajiban untuk: (i) memelihara pada setiap saat           to: (i) maintain the overall Bank’s soundness level as
    keadaan keuangan berada dalam kondisi sehat                   regulated by FSA; (ii) maintain the Bank’s soundness
    sesuai ketentuan OJK; (ii) mempertahankan tingkat             level at a minimum in the composite level 3 (three)
    kesehatan Bank minimal berada dalam peringkat                 which is categorised as “Fair”, according to internal
    komposit 3 (tiga) yang tergolong “Cukup Baik”, sesuai         assessment based upon on Bank Indonesia’s
    penilaian internal berdasarkan ketentuan Bank                 regulation; (iii) obtain and comply with permits and
    Indonesia; (iii) memperoleh, mematuhi segala                  approvals (from the government or other parties) and
    ketentuan dan melakukan hal-hal yang diperlukan               comply to Indonesia’s laws and regulations.
    untuk menjaga tetap berlakunya segala izin dan
    persetujuan (baik dari pemerintah ataupun lainnya)
    dan mematuhi peraturan perundang-undangan
    Republik Indonesia.

    Bank Mandiri tanpa persetujuan tertulis Wali Amanat           Bank Mandiri, without a written approval from the
    tidak akan melakukan hal-hal sebagai berikut: (i)             Trustee will not: (i) reducing the Bank’s issued and paid
    mengurangi modal ditempatkan dan disetor kecuali              up capital except such a reduction is conducted based
    karena adanya ketentuan Pemerintah atau Bank                  on regulations from the Government of Indonesia or
    Indonesia; (ii) mengadakan perubahan bidang usaha;            Bank Indonesia; (ii) change its nature of business; (iii)
    (iii) mengadakan penggabungan, konsolidasi, akuisisi          conducting merger, consolidation, or acquisitions which
    dengan entitas lain yang menyebabkan bubarnya                 led to the dissolution of Bank Mandiri.
    Bank Mandiri.

    Obligasi ini tidak dijamin dengan suatu bentuk                The bonds are not guaranteed by any form of special
    jaminan khusus, kecuali jaminan umum sebagaimana              guarantee, except for the general guarantee as referred
    dimaksud dalam dan sesuai dengan ketentuan Pasal              and in accordance with the Article 1131 and Article
    1131 dan Pasal 1132 Kitab Undang-Undang Hukum                 1132 of the Indonesian Civil Law, all the assets of the
    Perdata Indonesia yakni seluruh harta kekayaan                Bank, either moving objects and objects that are not
    Bank, baik benda bergerak maupun tidak bergerak,              moving, present or future, shall be regarded as
    baik yang telah ada maupun yang akan ada di                   securities for the Bank’s agreements including those
    kemudian hari, menjadi tanggungan untuk seluruh               bonds.
    perikatan Bank termasuk obligasi tersebut.

    Pada tanggal 31 Desember 2023 dan 2022, peringkat             As of 31 December 2023 dan 31 December 2022 the
    Obligasi Berkelanjutan I Tahap I dan Tahap II                 Pefindo’s rating of Continuous Bonds I Phase I and
    menurut Pefindo adalah idAAA (triple A).                      Phase II is idAAA (triple A).

    Mata Uang Asing                                               Foreign Currency

    Pada tanggal 4 April 2023, Bank Mandiri menerbitkan           On 4 April 2023, Bank Mandiri issued the fourth Euro
    Euro Medium Term Notes (EMTN) keempat dengan                  Medium Term Notes (EMTN) with nominal value of
    nilai nominal sebesar USD300.000.000 (nilai penuh)            USD300,000,000 (full amount) in Singapore Exchange
    di Singapore Exchange (SGX) sebagai berikut:                  (SGX) as follow:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date                Bonds
    Euro Medium                                                                                             Euro Medium
      Term Notes               USD300.000.000                      5,50%                4 April 2026        Term Notes




                                                                246                                     ANNUAL REPORT 2023    1313
Page 807
            MAIN                       MANAGEMENT                        COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                           Bonds (continued)

                Bank Mandiri (lanjutan)                                       Bank Mandiri (continued)

                Mata Uang Asing (lanjutan)                                    Foreign Currency (continued)

                Obligasi EMTN keempat ditawarkan dengan nilai                 The fourth EMTN is offered at 99.58% (ninety-nine
                99,58% (sembilan puluh sembilan koma lima delapan             point five eight percent) of the principal amount of the
                persen) dari jumlah pokok obligasi. Bunga obligasi            bonds. The bond interest is paid on semi-annual basis,
                dibayarkan setiap semester, dengan pembayaran                 with the first interest payment scheduled on 4 October
                bunga pertama dilakukan pada tanggal 4 Oktober                2023 and the last interest payment and due date of the
                2023, sedangkan pembayaran bunga terakhir                     bond principal on 4 April 2026, which also the due date
                sekaligus jatuh tempo obligasi adalah pada tanggal 4          of the principal amount of the bonds. The trustee of the
                April 2026 yang juga merupakan tanggal pelunasan              EMTN bond issuance is Bank of New York Mellon.
                pokok dari obligasi. Wali amanat dari penerbitan
                EMTN adalah Bank of New York Mellon.

                Pada tanggal 31 Desember 2023, peringkat EMTN                 As of 31 December 2023, the credit ratings for the
                keempat adalah Baa2 (Moody’s) dan BBB- (Fitch                 fourth EMTN are Baa2 (Moody’s) and BBB- (Fitch
                Ratings).                                                     Ratings).

                Pada tanggal 19 April 2021, Bank Mandiri                      On 19 April 2021, Bank Mandiri issued the third EMTN,
                menerbitkan EMTN ketiga, yaitu Sustainability Bond            namely Bank Mandiri Sustainability Bond 2021, with
                Bank Mandiri 2021, dengan nilai nominal sebesar               total nominal value of USD300,000,000 (full amount) on
                USD300.000.000 (nilai penuh) di Singapore                     the Singapore Exchange (SGX) as follows:
                Exchange (SGX) sebagai berikut:

                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                          Nilai nominal/          Fixed interest rate         Jatuh tempo/
                     Obligasi             Nominal value               per annum               Maturity date                Bonds
                Euro Medium                                                                                              Euro Medium
                  Term Notes               USD300.000.000                      2,00%               19 April 2026         Term Notes

                Sustainability Bond Bank Mandiri 2021 ditawarkan              Bank Mandiri Sustainability Bond 2021 are offered at a
                dengan nilai 98,913% (sembilan puluh delapan koma             value of 98.913% (ninety eight point nine one three
                sembilan satu tiga persen) dari jumlah pokok obligasi.        percent) of the principal amount of the bonds. Bond
                Bunga obligasi dibayarkan setiap semester, dengan             interest is paid every semester, with the first interest
                pembayaran bunga pertama dilakukan pada tanggal               payment being made on 19 October 2021, while the
                19 Oktober 2021, sedangkan pembayaran bunga                   last interest payment is at the same time the bond
                terakhir sekaligus jatuh tempo obligasi adalah pada           maturity on 19 April 2026 which is also the principal
                tanggal 19 April 2026 yang juga merupakan tanggal             repayment date of the bonds. The trustee of the
                pelunasan pokok dari obligasi. Wali amanat dari               issuance of EMTN is Bank of New York Mellon. The
                penerbitan EMTN adalah Bank of New York Mellon.               proceeds from the issuance of the Sustainability Bond
                Dana hasil penerbitan Sustainability Bond tersebut            will be used to finance or refinance projects or activities
                akan digunakan untuk membiayai atau membiayai                 that are environmentally and socially sound, in
                kembali proyek atau kegiatan yang berwawasan                  accordance with the criteria set out in Bank Mandiri's
                lingkungan dan sosial, sesuai dengan kriteria yang            Sustainability Bond Framework.
                ditetapkan dalam Sustainability Bond Framework
                Bank Mandiri.

                Pada tanggal 31 Desember 2023 dan 2022, peringkat             As of 31 December 2023 and 2022, the third EMTN's
                EMTN ketiga adalah Baa2 (Moody’s) dan BBB- (Fitch             ratings are Baa2 (Moody's) and BBB- (Fitch Ratings).
                Ratings).

                Pada tanggal 13 Mei 2020, Bank Mandiri menerbitkan            On 13 May 2020 Bank Mandiri issued the second
                Euro Medium Term Notes (EMTN) kedua dengan nilai              EMTN with total nominal value of USD500,000,000 (full
                nominal sebesar USD500.000.000 (nilai penuh) di               amount) on the Singapore Exchange (SGX) as follow:
                Singapore Exchange (SGX) sebagai berikut:
                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                          Nilai nominal/          Fixed interest rate         Jatuh tempo/
                     Obligasi             Nominal value               per annum               Maturity date                Bonds
                Euro Medium                                                                                              Euro Medium
                  Term Notes               USD500.000.000                      4,75%           13 Mei/May 2025           Term Notes




1314 PT Bank Mandiri (Persero) Tbk                                          247
Page 808
     CORPORATE                 ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                & PRACTICES                     RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

    Obligasi (lanjutan)                                           Bonds (continued)

    Bank Mandiri (lanjutan)                                       Bank Mandiri (continued)

    Mata Uang Asing (lanjutan)                                    Foreign Currency (continued)

    Obligasi Euro Medium Term Notes (EMTN) kedua                  The second EMTN is offered at 99.255% (ninety nine
    ditawarkan dengan nilai 99,255% (sembilan puluh               point two five five percent) of the principal amount of
    sembilan koma dua lima lima persen) dari jumlah               bonds. The interest is paid on semi-annual basis with
    pokok obligasi. Bunga obligasi dibayarkan setiap              the first interest payment was made on 13 November
    semester, dengan pembayaran bunga pertama                     2020, while the last interest payment and maturity date
    dilakukan pada tanggal 13 November 2020,                      of the bonds principal on 13 May 2025 which is also the
    sedangkan pembayaran bunga terakhir sekaligus                 redemption date of the principal amount of bonds. The
    jatuh tempo obligasi adalah pada tanggal 13 Mei 2025          trustee of the EMTN bond issuance is Bank of New
    yang juga merupakan tanggal pelunasan pokok dari              York Mellon.
    obligasi. Wali amanat dari penerbitan EMTN adalah
    Bank of New York Mellon.

    Pada tanggal 31 Desember 2023 dan 2022, peringkat             As of 31 December 2023 and 2022, the second EMTN
    EMTN kedua adalah Baa2 (Moody’s) dan BBB- (Fitch              is rated Baa2 (Moody’s) and BBB- (Fitch Ratings).
    Ratings).

    Pada tanggal 11 April 2019, Bank Mandiri                      On 11 April 2019 Bank Mandiri issued the first EMTN
    menerbitkan Euro Medium Term Notes (EMTN)                     with total nominal value of USD750,000,000 (full
    pertama    dengan    nilai      nominal sebesar               amount) on the Singapore Exchange (SGX) as follow:
    USD750.000.000 (nilai penuh) di Singapore
    Exchange (SGX) sebagai berikut:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date                Bonds
    Euro Medium                                                                                             Euro Medium
      Term Notes               USD750.000.000                      3,75%               11 April 2024        Term Notes

    Obligasi Euro Medium Term Notes (EMTN) pertama                The first EMTN is offered at 98.998% (ninety eight
    ditawarkan dengan nilai 98,998% (sembilan puluh               point nine nine eight percent) of the principal amount of
    delapan koma sembilan sembilan delapan persen)                bonds. The interest is paid on semi-annual basis with
    dari jumlah pokok obligasi. Bunga obligasi dibayarkan         the first interest payment was made on 11 October
    setiap semester, dengan pembayaran bunga pertama              2019, while the last interest payment and maturity date
    dilakukan pada tanggal 11 Oktober 2019, sedangkan             of the bonds principal on 11 April 2024 which is also
    pembayaran bunga terakhir sekaligus jatuh tempo               the redemption date of the principal amount of bonds.
    obligasi adalah pada tanggal 11 April 2024 yang juga          The trustee of the EMTN bond issuance is Bank of
    merupakan tanggal pelunasan pokok dari obligasi.              New York Mellon.
    Wali amanat dari penerbitan EMTN adalah Bank of
    New York Mellon.
    Pada tanggal 31 Desember 2023 dan 2022, peringkat             As of 31 December 2023 and 2022, the first EMTN is
    EMTN pertama adalah Baa2 (Moody’s) dan BBB-                   rated Baa2 (Moody’s) and BBB- (Fitch Ratings).
    (Fitch Ratings).

    Entitas Anak                                                  Subsidiaries

    Rupiah                                                        Rupiah

    Pada tanggal 28 April 2021, Entitas Anak (Bank                On 28 April 2021, the Subsidiary (Bank Mandiri Taspen
    Mandiri Taspen (“Bank Mantap”)) menerbitkan dan               (“Bank Mantap”)) issued and registered the Continuous
    mendaftarkan Obligasi Berkelanjutan I Tahap II tahun          Bonds I Phase II Year 2021 to the Indonesia Stock
    2021 ke Bursa Efek Indonesia dengan nilai nominal             Exchange with a nominal value of Rp2,000,000 with
    sebesar Rp2.000.000 yang terdiri atas 2 (dua) seri:           consist of 2 (two) series:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date                Bonds
    Seri A                              800.000                    6,50%               28 April 2024              Series A
    Seri B                            1.200.000                    7,25%               28 April 2026              Series B



                                                                248                                     ANNUAL REPORT 2023    1315
Page 809
            MAIN                          MANAGEMENT                    COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                       PROFILE                          ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                           Bonds (continued)

                Entitas Anak (lanjutan)                                       Subsidiaries (continued)

                Rupiah (lanjutan)                                             Rupiah (continued)

                Bunga obligasi dibayarkan setiap triwulanan, dengan           Bond interest is paid quarterly, with the first interest
                pembayaran bunga pertama masing-masing seri akan              payment for each series will be made on 28 July 2021
                dilakukan pada tanggal 28 Juli 2021 sedangkan                 while the last interest payment as well as the maturity
                pembayaran bunga terakhir sekaligus jatuh tempo               of the bonds will be on 28 April 2024 for Series A and
                obligasi adalah pada tanggal 28 April 2024 untuk Seri         28 April 2026 for Series B.
                A dan tanggal 28 April 2026 untuk Seri B.

                Wali amanat dari penerbitan Obligasi Berkelanjutan I          The trustee of the issuance of the Continuous Bonds I
                Tahap II tahun 2021 adalah PT Bank Permata Tbk.               Phase II Year 2021 is PT Bank Permata Tbk. As of
                Pada tanggal 31 Desember 2023 dan 2022 peringkat              31 December 2023 and 2022, the rating for the
                Obligasi Berkelanjutan I Tahap II Bank Mantap tahun           Continuous Bonds I Phase II of PT Bank Mandiri
                2021 menurut PT Fitch Ratings Indonesia adalah AA             Taspen in 2021 according to PT Fitch Ratings
                (idn) (double A).                                             Indonesia is AA (idn) (double A).

                Pada tanggal 26 November 2019, Entitas Anak (Bank             On 26 November 2019, the Subsidiary (Bank Mandiri
                Mandiri Taspen) menerbitkan dan mendaftarkan                  Taspen) issued and registered the Continuous Bond I
                Obligasi I Berkelanjutan Tahap I tahun 2019 ke Bursa          Phase I Year 2019 to Indonesia Stock Exchange with
                Efek Indonesia dengan nilai nominal sebesar                   total nominal value of Rp1,000,000 in which consist of
                Rp1.000.000 yang terdiri atas 2 (dua) seri:                   2 (two) series:

                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                           Nilai nominal/         Fixed interest rate        Jatuh tempo/
                     Obligasi              Nominal value              per annum              Maturity date               Bonds

                Seri A                                 700.000                 7,90%        26 November 2022                 Series A
                Seri B                                 300.000                 8,20%        26 November 2024                 Series B

                Bunga obligasi dibayarkan setiap triwulanan, dengan           Bonds interest were paid on quarterly basis, with the
                pembayaran bunga pertama dilakukan pada tanggal               first interest payment was made on 26 February 2020,
                26 Februari 2020, sedangkan pembayaran bunga                  while the last interest payment and maturity of the
                terakhir sekaligus jatuh tempo obligasi adalah pada           bonds on 26 November 2022 for Series A and
                tanggal 26 November 2022 untuk Seri A dan                     26 November 2024 for Series B which also the date for
                26 November 2024 untuk Seri B yang juga                       principal repayment of each bond.
                merupakan tanggal pelunasan pokok dari masing-
                masing obligasi.

                Wali amanat dari penerbitan Obligasi Berkelanjutan I          Trustee for Continuous Bond I Phase I PT Bank
                Tahap I Bank Mantap tahun 2019 adalah PT Bank                 Mandiri Taspen Year 2019 is PT Bank Permata Tbk.
                Permata Tbk. Pada tanggal 31 Desember 2023 dan                As of 31 December 2023 and 2022, Continuous Bond I
                2022 peringkat Obligasi Berkelanjutan I Tahap I Bank          Phase I PT Bank Mandiri Taspen Year 2019 is rated
                Mantap tahun 2019 menurut PT Fitch Ratings                    AA (idn) (double A) by PT Fitch Ratings Indonesia.
                Indonesia adalah AA (idn) (double A).

                Bank Mantap tanpa persetujuan tertulis Wali Amanat            Bank Mantap, without written approval from the
                tidak akan melakukan hal-hal sebagai berikut:                 Trustee, will not do the following things: (i) reduce
                (i) mengurangi modal ditempatkan dan disetor kecuali          issued and paid-up capital unless there are provisions
                karena adanya ketentuan Pemerintah atau Bank                  from the Government or Bank Indonesia; (ii) making
                Indonesia; (ii) mengadakan perubahan bidang usaha;            changes to business fields; (iii) carrying out a merger,
                (iii) mengadakan penggabungan, konsolidasi, akuisisi          consolidation, acquisition with another entity which
                dengan entitas lain yang menyebabkan bubarnya                 causes the dissolution of Bank Mantap.
                Bank Mantap.




1316 PT Bank Mandiri (Persero) Tbk                                          249
Page 810
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)
    Obligasi (lanjutan)                                           Bonds (continued)
    Entitas Anak (lanjutan)                                       Subsidiaries (continued)
    Rupiah (lanjutan)                                             Rupiah (continued)
    Pada tanggal 27 September 2023, Entitas anak (PT              On 27 September 2023, the Subsidiary (PT Mandiri
    Mandiri Tunas Finance) menerbitkan Obligasi                   Tunas Finance) issued Continuous Bonds VI Phase II
    Berkelanjutan VI Tahap II Tahun 2023 (''Obligasi              Year 2023 (“Continuous Bonds VI Phase II”) with total
    Berkelanjutan VI Tahap II'') dengan nilai nominal             nominal value of Rp1,131,110 which consist of 2 (two)
    sebesar Rp1.131.110 yang terdiri atas 2 (dua) seri:           series:

                                                   Tingkat bunga tetap
                                                        per tahun/
                              Nilai nominal/        Fixed interest rate         Jatuh tempo/
        Obligasi              Nominal value             per annum               Maturity date                Bonds
    Seri A                             804.175                    6,50%      27 September 2026                    Series A
    Seri B
                                       326.935                    6,75%      11 September 2028                    Series B

    Wali amanat dari penerbitan Obligasi Berkelanjutan VI         The trustee for the issuance of Continuous Bonds VI
    Tahap II adalah PT Bank Rakyat Indonesia (Persero)            Phase II is PT Bank Rakyat Indonesia (Persero) Tbk.
    Tbk.
    Peringkat Obligasi Berkelanjutan VI Tahap II menurut          As of 31 December 2023 and 2022, based on Pefindo’s
    Pefindo pada tanggal 31 Desember 2023 dan 2022                rating, Continuous Bonds VI Phase II is rated idAAA
    adalah idAAA (Triple A).                                      (Triple A).

    Pada tanggal 11 Juli 2023, Entitas anak (PT Mandiri           On 11 July 2023, the Subsidiary (PT Mandiri Tunas
    Tunas Finance) menerbitkan Obligasi Berkelanjutan             Finance) issued Continuous Bonds VI Phase I Year
    VI Tahap I Tahun 2023 (''Obligasi Berkelanjutan VI            2023 ("Continuous Bonds VI Phase I") with a nominal
    Tahap I'') dengan nilai nominal sebesar Rp691.735             value of Rp691,735 consisting of 2 (two) series:
    yang terdiri atas 2 (dua) seri:

                                                     Tingkat bunga tetap
                                                          per tahun/
                               Nilai nominal/         Fixed interest rate        Jatuh tempo/
         Obligasi              Nominal value              per annum              Maturity date                Bonds
    Seri A                               439.660                   6,00%           11 Juli/July 2026              Series A
    Seri B                               252.075                   6,25%           11 Juli/July 2028              Series B

    Wali amanat dari penerbitan Obligasi Berkelanjutan VI         The trustee for the issuance of Continuous Bonds VI
    Tahap I adalah PT Bank Rakyat Indonesia (Persero)             Phase II is PT Bank Rakyat Indonesia (Persero) Tbk.
    Tbk.

    MTF telah memenuhi batasan-batasan yang                       MTF has fulfilled the restrictions required in the
    diwajibkan dalam perjanjian tersebut di atas.                 agreement above. As of 31 December 2023 and 2022,
    Peringkat Obligasi Berkelanjutan VI Tahap I menurut           based on Pefindo’s rating, Continuous Bonds VI Phase
    Pefindo pada tanggal 31 Desember 2023 dan 2022                I is rated idAAA (Triple A).
    adalah idAAA (Triple A).

    Pada tanggal 23 Februari 2022, Entitas anak                   On 23 February 2022, the Subsidiary (PT Mandiri
    (PT Mandiri Tunas Finance) menerbitkan Obligasi               Tunas Finance) issued Continuous Bonds V Phase III
    Berkelanjutan V Tahap III Tahun 2022 (''Obligasi              Year 2022 (“Continuous Bonds V Phase III”) with total
    Berkelanjutan V Tahap III'') dengan nilai nominal             nominal value of Rp1,228,055 which consist of 2 (two)
    sebesar Rp1.228.055 yang terdiri atas 2 (dua) seri:           series:

                                                     Tingkat bunga tetap
                                                          per tahun/
                               Nilai nominal/         Fixed interest rate        Jatuh tempo/
         Obligasi              Nominal value              per annum              Maturity date                Bonds
                                                                                       23 Februari/
    Seri A                               851.440                   5,90%             February 2025                Series A
                                                                                       23 Februari/
    Seri B                               376.615                   6,75%             February 2027                Series B



                                                                250                                     ANNUAL REPORT 2023   1317
Page 811
            MAIN                          MANAGEMENT                     COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                        PROFILE                         ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                           Bonds (continued)

                Entitas Anak (lanjutan)                                       Subsidiaries (continued)

                Rupiah (lanjutan)                                             Rupiah (continued)
                Wali amanat dari penerbitan obligasi berkelanjutan V          Trustee for Continuous Bonds V Phase III is PT Bank
                Tahap III adalah PT Bank Rakyat Indonesia (Persero)           Rakyat Indonesia (Persero) Tbk.
                Tbk.

                Pada tanggal 20 Mei 2021, Entitas Anak (PT Mandiri            On 20 May 2021, the Subsidiary (PT Mandiri Tunas
                Tunas Finance) menerbitkan dan mendaftarkan                   Finance) issued and registered Continuous Bonds V
                Obligasi Berkelanjutan V Mandiri Tunas Finance                Mandiri Tunas Finance Phase II Year 2021
                Tahap II Tahun 2021 (“Obligasi Berkelanjutan V                (“Continuous Bonds V Phase II”) to the Indonesia Stock
                Tahap II”) ke Bursa Efek Indonesia dengan nilai               Exchange with total nominal value of Rp1,400,850
                nominal sebesar Rp1.400.850 yang terdiri atas 2               which consist of 2 (two) series:
                (dua) seri:
                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                           Nilai nominal/         Fixed interest rate        Jatuh tempo/
                     Obligasi              Nominal value              per annum              Maturity date                Bonds
                Seri A                                                                                  20 Mei/
                                                       915.150                 7,00%                  May 2024                Series A
                Seri B                                                                                  20 Mei/               Series B
                                                       485.700                 7,65%                  May 2026
                Wali amanat dari penerbitan Obligasi Berkelanjutan V          Trustee for Continuous Bonds V Phase II is PT Bank
                Tahap II adalah PT Bank Rakyat Indonesia (Persero)            Rakyat Indonesia (Persero) Tbk.
                Tbk.

                Pada tanggal 13 Agustus 2020, Entitas Anak (PT                On 13 August 2020, the Subsidiary (PT Mandiri Tunas
                Mandiri   Tunas    Finance)     menerbitkan     dan           Finance) issued and registered Continuous Bonds V
                mendaftarkan Obligasi Berkelanjutan V Mandiri Tunas           Mandiri Tunas Finance Phase I Year 2020
                Finance Tahap I Tahun 2020 (“Obligasi Berkelanjutan           (“Continuous Bonds V Phase I”) to the Indonesia Stock
                V Tahap I”) ke Bursa Efek Indonesia dengan nilai              Exchange with total nominal value of Rp858,000 which
                nominal sebesar Rp858.000 yang terdiri atas 2 (dua)           consist of 2 (two) series:
                seri:

                                                                 Tingkat bunga tetap
                                                                      per tahun/
                                           Nilai nominal/         Fixed interest rate        Jatuh tempo/
                     Obligasi              Nominal value              per annum              Maturity date                Bonds
                                                                                                   13 Agustus/
                Seri A                                 472.000                 8,00%               August 2023                Series A
                                                                                                   13 Agustus/
                Seri B                                 386.000                 8,60%               August 2025                Series B

                Wali amanat dari penerbitan Obligasi Berkelanjutan V          Trustee for Continuous Bonds V Phase I is PT Bank
                Tahap I adalah PT Bank Rakyat Indonesia (Persero)             Rakyat Indonesia (Persero) Tbk. Series A Bonds has
                Tbk. Obligasi Seri A telah jatuh tempo pada tanggal           matured on 13 August 2023.
                13 Agustus 2023.

                Dalam perjanjian perwaliamanatan juga diatur                  The trustee agreement stipulates several restrictions
                beberapa pembatasan yang harus dipenuhi oleh                  that must be met by the Subsidiary, including providing
                MTF, antara lain memberikan jaminan fidusia berupa            fiduciary guarantees in the form of consumer financing
                piutang dilunasi pembiayaan konsumen dan rasio                receivables and total debt to equity ratio not exceeding
                jumlah pinjaman terhadap ekuitas tidak melebihi rasio         10:1. Moreover, as long as the principal of the bonds
                10:1. Selain itu, selama pokok obligasi belum, MTF            has not been repaid, the Subsidiary is not permitted,
                tidak diperkenankan, antara lain melakukan                    among other things, to enter into a business merger
                penggabungan usaha kecuali dilakukan pada bidang              unless it is carried out in the same line of business and
                usaha yang sama serta menjual atau mengalihkan                sell or transfer more than 50% of the Subsidiary's
                lebih dari 50% aset MTF kecuali untuk kegiatan usaha          assets except for the daily business activities of the
                MTF sehari-hari.                                              Subsidiary.

                Peringkat Obligasi Berkelanjutan V Tahap I, II dan III        As of 31 December 2023 and 2022, based on Pefindo’s
                menurut Pefindo pada tanggal 31 Desember 2023                 rating, Continuous Bonds V Phase I, II and III are rated
                dan 2022 adalah idAAA (Triple A).                             idAAA (Triple A).



1318 PT Bank Mandiri (Persero) Tbk                                          251
Page 812
     CORPORATE                 ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                & PRACTICES                     RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)
    Obligasi (lanjutan)                                           Bonds (continued)
    Entitas Anak (lanjutan)                                       Subsidiaries (continued)
    Rupiah (lanjutan)                                             Rupiah (continued)

    Pada tanggal 26 Juli 2019, Entitas Anak (Mandiri              On 26 July 2019, the Subsidiary (PT Mandiri Tunas
    Tunas Finance) menerbitkan dan mendaftarkan                   Finance) issued and registered Continuous Bonds IV
    Obligasi Berkelanjutan IV Mandiri Tunas Finance               Mandiri Tunas Finance Phase II Year 2019
    Tahap II Tahun 2019 (”Obligasi Berkelanjutan IV               (“Continuous Bonds IV Phase II”) to the Indonesia
    Tahap II”) ke Bursa Efek Indonesia dengan nilai               Stock Exchange with total nominal value of
    nominal sebesar Rp2.000.000 yang terdiri atas 2               Rp2,000,000 which consist of 2 (two) series:
    (dua) seri:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date                Bonds
    Seri A                            1.342.000                    8,90%           26 Juli/July 2022              Series A
    Seri B                              658.000                    9,50%           26 Juli/July 2024              Series B

    Wali amanat dari penerbitan Obligasi Berkelanjutan IV         The trustee for Continuous Bonds IV Phase II is
    Tahap II adalah PT Bank Mega Tbk. Obligasi Seri A             PT Bank Mega Tbk. Series A Bonds has matured on
    telah jatuh tempo pada tanggal 26 Juli 2022.                  26 July 2022.

    Dalam perjanjian perwaliamanatan, diatur beberapa             The trustee agreement stipulates several restrictions
    pembatasan yang harus dipenuhi oleh Entitas Anak,             that must be met by the Subsidiary, including providing
    antara lain memberikan jaminan fidusia berupa                 fiduciary guarantees in the form of consumer financing
    piutang pembiayaan konsumen dan rasio jumlah                  receivables and total debt to equity ratio not exceeding
    pinjaman terhadap ekuitas tidak melebihi rasio 10:1.          10:1. Moreover, as long as the principal of the bonds
    Selain itu, selama pokok obligasi belum dilunasi,             has not been repaid, the Subsidiary is not permitted,
    Entitas Anak tidak diperkenankan, antara lain                 among other things, to enter into a business merger
    melakukan penggabungan usaha kecuali dilakukan                unless it is carried out in the same line of business and
    pada bidang usaha yang sama serta menjual atau                sell or transfer more than 50% of the Subsidiary's
    mengalihkan lebih dari 50% aset Entitas Anak kecuali          assets except for the daily business activities of the
    untuk kegiatan usaha Entitas Anak sehari-hari.                Subsidiary.

    Pada tanggal 8 Januari 2019, Entitas Anak (Mandiri            On 8 January 2019, the Subsidiary (PT Mandiri Tunas
    Tunas Finance) menerbitkan dan mendaftarkan                   Finance) issued and registered Continuous Bonds IV
    Obligasi Berkelanjutan IV Mandiri Tunas Finance               Mandiri Tunas Finance Phase I Year 2019
    Tahap I Tahun 2019 (“Obligasi Berkelanjutan IV                (“Continuous Bonds IV Phase I”) to the Indonesia Stock
    Tahap I”) ke Bursa Efek Indonesia dengan nilai                Exchange with total nominal value of Rp1,000,000
    nominal sebesar Rp1.000.000 yang terdiri atas 2               which consist of 2 (two) series:
    (dua) seri:

                                                     Tingkat bunga tetap
                                                          per tahun/
                              Nilai nominal/          Fixed interest rate        Jatuh tempo/
         Obligasi             Nominal value               per annum              Maturity date                Bonds
                                                                                          8 Januari/
    Seri A                              800.000                    9,40%               January 2022               Series A
                                                                                          8 Januari/
    Seri B                              200.000                    9,75%               January 2024               Series B
    Wali amanat dari penerbitan Obligasi Berkelanjutan IV         The trustee for Continuous Bonds IV Phase I is PT
    Tahap I adalah PT Bank Rakyat Indonesia (Persero)             Bank Rakyat Indonesia (Persero) Tbk. Series A Bonds
    Tbk. Obligasi Seri A telah jatuh tempo pada tanggal           has matured on 8 January 2022.
    8 Januari 2022.

    Peringkat Obligasi Berkelanjutan IV Tahap I dan               As of 31 December 2023 and 2022, based on Pefindo’s
    Tahap II menurut Pefindo pada tanggal 31 Desember             rating, Continuous Bonds IV Phase I and Phase II are
    2023 dan 2022 adalah idAAA (Triple A).                        rated idAAA (Triple A).

    Pada tanggal 31 Desember 2023, seluruh efek-efek              As of 31 December 2023, all securities issued by
    yang diterbitkan oleh PT Mandiri Tunas Finance                PT Mandiri Tunas Finance are secured by consumer
    dijamin dengan piutang pembiayaan konsumen                    financing receivables amounted to Rp3,374,511
    sebesar    Rp3.374.511     (31    Desember      2022:         (31 December 2022: Rp1,718,119) (Note 13f) and net
    Rp1.718.119) (Catatan 13f) dan investasi bersih dalam         investment finance leases amounted to Rp873,111
    sewa pembiayaan sebesar Rp873.111 (31 Desember                (31 December 2022: Rp888,925) (Note 14f).
    2022: Rp888.925) (Catatan 14f).


                                                                252                                     ANNUAL REPORT 2023    1319
Page 813
            MAIN                          MANAGEMENT                    COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                       PROFILE                         ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                    30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                          Bonds (continued)

                Entitas Anak (lanjutan)                                      Subsidiaries (continued)

                Rupiah (lanjutan)                                            Rupiah (continued)

                Subordinated notes syariah mudharabah                        Subordinated notes sharia mudharabah

                Pada tanggal tanggal 15 Desember 2023, Entitas               On 15 December 2023, Bank Syariah Indonesia's
                Anak Bank Syariah Indonesia (“BSI”) menerbitkan              subsidiary ("BSI") issued the 2023 Mudharabah Sukuk
                Sukuk Mudharabah Tahun 2023 sebesar Rp200.000                amounting to Rp200,000 with maturity set on
                dan akan jatuh tempo pada tanggal 15 Desember                15 December 2028.
                2028.

                Selama berlakunya jangka waktu Sukuk Mudharabah              Throughout the tenure of the 2023 BSI Subordinated
                Subordinasi BSI Tahun 2023 dan sebelum                       Mudharabah Sukuk and until the full repayment of both
                dilunasinya semua pokok dan bagi hasil, Entitas Anak         principal and profit-sharing, the Subsidiary is obligated
                berkewajiban untuk: (i) menjaga rasio Capital                to: (i) maintain a Capital Adequacy Ratio (“CAR”) of not
                Adequacy Ratio (“CAR”) tidak kurang dari 12% (dua            less than 12%; (ii) ensure that the 2023 Subordinated
                belas persen); (ii) memastikan bahwa Sukuk                   Mudharabah Sukuk is not owned by more than 49
                Mudharabah Subordinasi Tahun 2023 ini tidak akan             investors; (iii) submit to the monitoring agent the
                dimiliki oleh lebih dari 49 (empat puluh sembilan)           following: (a) Copies of reports submitted to the
                investor; (iii) menyerahkan kepada agen pemantau             Financial Services Authority (OJK), including the bank's
                sebagai berikut: (a) Salinan dari laporan yang               health assessment report, no later than 5 (five)
                disampaikan kepada OJK termasuk laporan hasil                business days after the report is submitted to the
                penilaian tingkat kesehatan bank, dalam waktu                parties mentioned above. If the Monitoring Agent
                selambat-lambatnya 5 (lima) Hari Kerja setelah               deems it necessary, based on a written request from
                laporan tersebut diserahkan kepada pihak yang                the Monitoring Agent, the Company must provide the
                disebutkan di atas. Dalam hal Agen Pemantau                  Monitoring Agent with additional documents related to
                memandang perlu, berdasarkan permohonan Agen                 the above report (if any) no later than 10 (ten) business
                Pemantau        secara   tertulis, Perseroan    wajib        days after the date the request letter is received by the
                menyampaikan kepada Agen Pemantau dokumen-                   Company. (b) Annual financial statements audited by
                dokumen tambahan yang berkaitan dengan laporan               public accountants registered with the OJK and
                tersebut di atas (apabila ada) selambat lambatnya 10         submitted to the Monitoring Agent within 5 (five)
                (sepuluh) Hari Kerja setelah tanggal surat                   business days after receiving a request letter from the
                permohonan tersebut diterima oleh Perseroan. (b)             Monitoring Agent.
                Laporan keuangan tahunan yang telah diaudit oleh
                akuntan publik yang terdaftar di OJK dan disampaikan
                kepada Agen Pemantau dalam waktu 5 (lima) Hari
                kerja setelah menerima surat permohonan dari Agen
                Pemantau.

                Seluruh dana hasil penerbitan Sukuk Mudharabah               All proceeds from the issuance of the Subordinated
                Subordinasi, akan dipergunakan oleh Perseroan                Mudharabah Sukuk will be used by the Company for its
                untuk kegiatan usaha Perseroan dalam rangka                  business activities to strengthen the capital structure,
                memperkuat     struktur    permodalan   dengan               taking into account the issuance proceeds as
                memperhitungkan dana hasil penerbitan sebagai                supplementary capital and to enhance the Company's
                modal pelengkap dan meningkatkan aset produktif              productive assets.
                Perseroan.

                Sukuk Mudharabah Subordinasi ini diterbitkan tanpa           The Subordinated Mudharabah Sukuk is issued without
                warkat, kecuali Sertifikat Jumbo Sukuk Mudharabah            certificates, except for the Jumbo Certificate of
                Subordinasi yang diterbitkan atas nama PT Kustodian          Subordinated Mudharabah Sukuk issued in the name
                Sentral Efek Indonesia (“KSEI”) sebagai bukti                of the Indonesian Central Securities Depository
                kepemilikan Efek Syariah untuk kepentingan                   ("KSEI") as evidence of ownership of Sharia Securities
                Pemegang       Sukuk      Mudharabah    Subordinasi.         for the benefit of the Subordinated Mudharabah Sukuk
                Pendapatan Bagi Hasil yang dihitung berdasarkan              Holders. Profit-sharing is calculated by multiplying the
                perkalian antara Nisbah Bagi Hasil Pemegang Sukuk            Profit-sharing Ratio of the Subordinated Mudharabah
                Mudharabah Subordinasi, dimana besarnya nisbah               Sukuk Holders, where the ratio is 88.55% of the
                adalah 88,55% dari Pendapatan yang Dibagihasilkan            Distributed Income with an indicative profit-sharing rate
                dengan indikasi bagi hasil sebesar ekuivalen 7,90%           equivalent to 7.90% per annum. The tenure of the
                per tahun. Jangka waktu Sukuk Mudharabah                     Subordinated Mudharabah Sukuk is 5 (five) years from
                Subordinasi adalah 5 (lima) Tahun terhitung sejak            the Issuance Date. The Subordinated Mudharabah
                Tanggal Penerbitan. Sukuk Mudharabah Subordinasi             Sukuk is offered at 100% of the Subordinated
                ini ditawarkan dengan nilai 100% dari jumlah Dana            Mudharabah Sukuk Fund. Profit-sharing is paid
                Sukuk Mudharabah Subordinasi. Pendapatan Bagi                quarterly, in line with the Profit-sharing Payment Date.
                Hasil dibayarkan setiap triwulan, sesuai dengan
                tanggal pembayaran Pendapatan Bagi Hasil.


1320 PT Bank Mandiri (Persero) Tbk                                         253
Page 814
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                    30. DEBT SECURITIES ISSUED (continued)

    Obligasi (lanjutan)                                         Bonds (continued)

    Entitas Anak (lanjutan)                                     Subsidiaries (continued)

    Rupiah (lanjutan)                                           Rupiah (continued)

    Subordinated notes syariah mudharabah (lanjutan)            Subordinated notes sharia mudharabah (continued)

    Bertindak sebagai wali amanat Sukuk Mudharabah              The Trustee for the 2023 BSI Subordinated
    Subordinasi BSI Tahun 2023 adalah PT Bank Negara            Mudharabah Sukuk is PT Bank Negara Indonesia
    Indonesia (Persero) Tbk.                                    (Persero) Tbk.

    Pada tanggal 31 Desember 2023, peringkat Sukuk              As of 31 December 2023, the rating for the sukuk
    Mudharabah Subordinasi menurut Pefindo adalah               mudharabah according to Pefindo is idAA(sy) (double
    idAA(sy) (Double A Sharia).                                 A sharia).

    Pada tanggal 22 Desember 2016, Entitas anak,                On 22 December 2016, the Subsidiary, PT Bank
    PT Bank Syariah Indonesia Tbk (“BSI”) (dahulu               Syariah Indonesia Tbk (“BSI”) (formerly issued by
    diterbitkan oleh PT Bank Syariah Mandiri), telah            PT Bank Syariah Mandiri) has issued subordinated
    menerbitkan sukuk mudharabah subordinasi BSM                sukuk mudharabah BSM Year 2016 (“sukuk
    Tahun 2016 (sukuk mudharabah) dengan nilai                  mudharabah”) with total nominal value of Rp375,000.
    nominal Rp375.000. Sukuk mudharabah merupakan               Sukuk mudharabah are long term securities debt tenor
    surat berharga yang diterbitkan dalam bentuk surat          7 years with the following terms and conditions as
    pengakuan liabilitas jangka panjang berjangka waktu         follow:
    7 tahun dengan syarat dan ketentuan:
    -    Pendapatan bagi hasil dihitung berdasarkan              -    Profit sharing is calculated by multiplying the
         perkalian antara nisbah pemegang sukuk                       revenue-sharing      portion   of    the     sukuk
         mudharabah         dengan    pendapatan     yang             mudharabah holders and revenue which can be
         dibagihasilkan yang jumlahnya tercantum dalam                shared based on the available last-quarter
         laporan keuangan triwulan terakhir yang belum                unaudited financial statements and approved by
         diaudit yang tersedia dan disahkan oleh Direksi              BSI’s Directors no later than 10 (ten) working
         selambatnya 10 (sepuluh) hari kerja sebelum                  days prior to the payment date of profit sharing.
         tanggal pembayaran pendapatan bagi hasil yang
         bersangkutan.
    -    Pendapatan yang dibagihasilkan diperoleh dari           -    The profit sharing was generated from the
         pendapatan portofolio pembiayaan Rupiah                      revenue of BSI’s financing portfolio in Rupiah
         (blended) BSI senilai 7 (tujuh) kali dana sukuk              (blended) amounted to 7 (seven) times of sukuk
         mudharabah dalam mata uang Rupiah yang                       mudharabah funds denominated in Rupiah which
         dimiliki Penerbit, yang diperoleh selama satu (1)            held by the issuer, which generated from one (1)
         triwulan sebagaimana dicantumkan dalam setiap                quarter as stated in BSI’s unaudited financial
         laporan keuangan BSI yang belum diaudit.                     statements.
    -    Nisbah yang diberikan kepada pemegang sukuk             -    The nisbah of the sukuk mudharabah holders’ is
         mudharabah adalah sebesar 27,07% per tahun                   27.07% per annum of the profit sharing which is
         dari pendapatan bagi hasil yang dibayarkan                   paid on quarterly basis.
         setiap 3 (tiga) bulan.

    Sukuk mudharabah ini tidak dijamin dengan jaminan           Sukuk mudharabah is not guaranteed by special
    khusus dan tidak dijamin oleh pihak ketiga. termasuk        collateral nor guaranteed by third parties, including not
    tidak dijamin oleh Negara Republik Indonesia dan            guaranteed by the Republic of Indonesia and is not
    tidak dimasukkan kedalam Program Penjaminan Bank            included in the bank guarantee program implemented
    yang dilaksanakan oleh Bank Indonesia atau lembaga          by Bank Indonesia or other guarantee institution in
    penjaminan lainnya sesuai dengan peraturan                  accordance to the prevailing law and regulation article
    perundang-undangan yang berlaku dan mengikuti               17 paragraph (1) letter f of FSA’s Regulation (POJK)
    ketentuan pasal 17 ayat (1) huruf f Peraturan Otoritas      No. 21/POJK.03/2014 dated 18 November 2014
    Jasa Keuangan (POJK) No. 21/POJK.03/2014                    concerning the Minimum Capital Requirement for
    tanggal 18 November 2014 tentang Kewajiban                  Sharia Banks. Sukuk mudharabah are subordinated
    Penyediaan Modal Minimum Bank Umum Syariah.                 Subsidiary’s liability.
    Sukuk mudharabah merupakan kewajiban Entitas
    Anak yang disubordinasi.




                                                              254                                     ANNUAL REPORT 2023    1321
Page 815
            MAIN                          MANAGEMENT                     COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                        PROFILE                         ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                     30. DEBT SECURITIES ISSUED (continued)

                Obligasi (lanjutan)                                           Bonds (continued)

                Entitas Anak (lanjutan)                                       Subsidiaries (continued)

                Rupiah (lanjutan)                                             Rupiah (continued)

                Subordinated notes syariah mudharabah (lanjutan)              Subordinated notes sharia mudharabah (continued)

                Selama berlakunya jangka waktu sukuk mudharabah               During the validity period of sukuk mudharabah and
                dan sebelum dilunasinya semua pokok dan bagi hasil,           before the redemption of all of principal and profit
                BSM berkewajiban untuk: (i) menjaga rasio Capital             sharing, BSI is obliged to: (i) maintain the Capital
                Adequacy Ratio (CAR) tidak kurang dari 12% (dua               Adequacy Ratio (CAR) at minimum 12% (twelve
                belas persen); (ii) memastikan bahwa sukuk                    percent); (ii) ensure sukuk mudharabah holders at
                mudharabah ini tidak akan dimiliki oleh lebih dari 50         maximum 50 (fifty) investors; (iii) submit to the trustee
                (lima puluh) investor; (iii) menyerahkan kepada agen          as follows: the financial statements (audited) at
                pemantau sebagai berikut: laporan keuangan tahunan            maximum the 4th month after the date of financial
                (audited) selambat-lambatnya akhir bulan ke-4                 statements, quarterly financial statements (unaudited)
                setelah tanggal buku laporan, laporan keuangan                the 1st month after the date of financial statements at
                (unaudited) triwulan selambat-lambatnya akhir bulan           the latest, the financial statements used to calculate the
                ke-1 setelah tanggal buku laporan, laporan keuangan           profit sharing and BSI’s soundness rating report and
                yang digunakan sebagai dasar perhitungan                      self-assessment of Good Corporate Governance
                Pendapatan Bagi Hasil dan laporan penilaian tingkat           implementation to the FSA.
                kesehatan bank dan penilaian sendiri (self
                assessment)      pelaksanaan       Good     Corporate
                Governance kepada OJK.

                BSI tanpa persetujuan tertulis Agen Pemantau tidak            BSI without written approval from the monitoring agent
                akan      melakukan    hal-hal   sebagai   berikut:           will not do the following: (i) reduce the issued and paid-
                (i) mengurangi modal ditempatkan dan disetor; (ii)            in capital; (ii) undergo a change in its main business;
                mengadakan        perubahan      bidang    usaha;             (iii) undergo a merger, consolidation, reorganization,
                (iii) melakukan penggabungan atau peleburan atau              except such changes are in accordance with
                reorganisasi, kecuali karena adanya ketentuan                 regulations from the Government of Indonesia or Bank
                Pemerintah atau Bank Indonesia; (iv) mengadakan               Indonesia; (iv) conduct a merger, consolidation,
                penggabungan, konsolidasi, akuisisi dengan entitas            acquisition with another entity that will result in the
                lain yang menyebabkan bubarnya BSI.                           dissolution of BSI.

                Bertindak sebagai wali amanat sukuk mudharabah                Acting as the trustee of the mudharabah sukuk is
                adalah PT Bank Mandiri (Persero) Tbk. Pada tanggal            PT Bank Mandiri (Persero) Tbk. As of 31 December
                31 Desember 2023 dan 2022, peringkat sukuk                    2023 and 2022, the rating for the sukuk mudharabah
                mudharabah menurut Pefindo adalah idAA-(sy)                   according to Pefindo is idAA-(sy) (double A minus
                (double A minus syariah).                                     sharia).

                Pada tanggal 17 November 2016, Entitas anak,                  On 17 November 2016, the Subsidiary, PT Bank
                PT Bank Syariah Indonesia Tbk (dahulu diterbitkan             Syariah Indonesia (formerly issued by PT Bank Rakyat
                oleh PT Bank Rakyat Indonesia Syariah),                       Indonesia Syariah), issued Subordinated Sukuk
                menerbitkan Sukuk Mudharabah Subordinasi I Tahun              Mudharabah I Year 2016 amounting to Rp1,000,000
                2016 sebesar Rp1.000.000 dan diterbitkan senilai              and it was issued at 100.00% of its nominal value using
                100,00% dari nilai nominalnya dengan metode                   the revenue sharing method on the Indonesia Stock
                pendapatan bagi hasil pada Bursa Efek Indonesia.              Exchange. The ratio of sukuk holders is 80.2%, which
                Besarnya nisbah pemegang sukuk adalah sebesar                 is calculated from gross cash revenue, which is
                80,2% yang dihitung dari gross revenue tunai, yang            indicated at 11.85%. Profit sharing is paid every
                diindikasikan sebesar 11,85%. Bagi hasil dibayarkan           3 (three) months and has matured on 16 November
                tiap 3 (tiga) bulan dan telah jatuh tempo pada tanggal        2023.
                16 November 2023.

                Penerimaan dari penerbitan Sukuk Mudharabah                   The proceeds from the issuance of the Subordinated
                Subordinasi I tersebut, akan dimanfaatkan seluruhnya          Sukuk Mudharabah I will be fully utilized to strengthen
                untuk memperkuat struktur permodalan dalam rangka             the capital structure in order to support business
                menunjang kegiatan pengembangan usaha berupa                  development activities in the form of financing
                penyaluran     pembiayaan.       Sukuk    Mudharabah          distribution. This Subordinated Sukuk Mudharabah I is
                Subordinasi I ini tidak dijamin dengan agunan khusus,         not guaranteed by special collateral, including not
                termasuk tidak dijamin oleh Negara Republik                   guaranteed by the Republic of Indonesia or other third
                Indonesia atau pihak ketiga lainnya dan tidak                 parties and is not included in the bank guarantee
                dimasukkan dalam program penjaminan bank yang                 program implemented by the Deposit Insurance
                dilaksanakan oleh Lembaga Penjamin Simpanan atau              Corporation or other guarantee institutions.
                lembaga penjaminan lainnya.




1322 PT Bank Mandiri (Persero) Tbk                                          255
Page 816
     CORPORATE                 ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                      Financial
     GOVERNANCE                & PRACTICES                  RESPONSIBILITY                          KEUANGAN   2023
                                                                                                      Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)     (Expressed in millions of Rupiah, unless otherwise stated)


30. EFEK-EFEK YANG DITERBITKAN (lanjutan)                   30. DEBT SECURITIES ISSUED (continued)

    Obligasi (lanjutan)                                        Bonds (continued)

    Entitas Anak (lanjutan)                                    Subsidiaries (continued)

    Rupiah (lanjutan)                                          Rupiah (continued)

    Subordinated notes syariah mudharabah (lanjutan)           Subordinated notes sharia mudharabah (continued)

    Bertindak sebagai wali amanat untuk Sukuk                  Acting as the trustee for the Subordinated Sukuk
    Mudharabah Subordinasi I tersebut adalah PT Bank           Mudharabah I is PT Bank Negara Indonesia
    Negara Indonesia (Persero) Tbk.                            (Persero) Tbk.

    PT Bank Mandiri (Persero) Tbk. dan Entitas Anak            PT Bank Mandiri (Persero) Tbk. and the Subsidiaries
    telah melakukan pembayaran bunga efek-efek yang            have paid the interest of debt securities issued in
    diterbitkan sesuai dengan jadwal pembayaran bunga          accordance to interest payment schedule during the
    selama tahun yang berakhir tanggal 31 Desember             year ended 31 December 2023 and 2022.
    2023 dan 2022.

    Selama tahun yang berakhir tanggal 31 Desember             During the year ended 31 December 2023 and 2022,
    2023 dan 2022, PT Bank Mandiri (Persero) Tbk. dan          PT Bank Mandiri (Persero) Tbk. and the Subsidiaries
    Entitas Anak telah memenuhi persyaratan yang               have fulfilled the requirements as set out in the
    ditetapkan   dalam  perjanjian   efek-efek   yang          agreement of debt securities issued.
    diterbitkan.

    Sertifikat Investasi Mudharabah Antarbank (SIMA)           Interbank Mudharabah Investment Certificate (SIMA)

    Pada tanggal 20 Desember 2023 sampai                       On 20 December 2023 to 29 December 2023, the
    29 Desember 2023, Entitas Anak PT Bank Syariah             Subsidiary, PT Bank Syariah Indonesia provided a
    Indonesia memberikan fasilitas committed line melalui      committed line facility through an Interbank
    Sertifikat Investasi Mudharabah Antarbank (SIMA)           Mudharabah Investment Certificate (SIMA) amounting
    sebesar Rp1.628.176 dengan jatuh tempo kurang dari         to Rp1,628,176 with a maturity of less than one month
    satu bulan yang memiliki nilai nisbah sekitar 6,25% -      with a ratio of around 6.25% - 6.40%. This facility is not
    6,40%. Fasilitas ini tidak dijamin dengan agunan           guaranteed by special collateral, including not
    khusus, termasuk tidak dijamin oleh Negara Republik        guaranteed by the Republic of Indonesia or other third
    Indonesia atau pihak ketiga lainnya.                       parties.

    Sukuk Mudharabah Muqayyadah I Tahap I                      Sukuk Mudharabah Muqayyadah I Phase I

    Pada tanggal 26 Juni 2023, Entitas Anak (PT Bank           On 26 June 2023, the Subsidiary (PT Bank Syariah
    Syariah Indonesia Tbk) telah menerbitkan Sukuk             Indonesia Tbk) has issued a long term Sukuk
    Mudharabah Muqayyadah Jangka Panjang Yang                  Mudharabah Muqayyadah without Public Offering I of
    Dilakukan Tanpa Melalui Penawaran Umum I.                  PT Bank BSI Tbk for the Year 2023 Phase 1 (“Sukuk
    PT Bank BSI Tbk Tahun 2023 Tahap I (“Sukuk                 Mudharabah Muqayyadah I Phase I”) with a nominal
    Mudharabah Muqayyadah I Tahap I”) dengan nilai             value of Rp3,759 and maximum limit of Rp100,000.
    nominal sebesar Rp3.759, dengan maksimal plafon            The profit-sharing ratio is 36.34% indicating
    sebesar Rp100.000. Besarnya nisbah adalah sebesar          approximately 0.55% per annum. Profit sharing is paid
    36,34% yang diindikasikan sebesar 0,55% per tahun.         every 3 (three) months and will mature on
    Bagi hasil dibayarkan setiap 3 (tiga) bulan dan akan       26 December 2035. The facility is not secured by any
    jatuh tempo pada tanggal 26 Desember 2035.                 specific collateral, including not guaranteed by the
    Fasilitas ini tidak dijamin dengan agunan khusus,          Republic of Indonesia or any third parties.
    termasuk tidak dijamin oleh Negara Republik
    Indonesia atau pihak ketiga lainnya.

    Penerbitan sukuk tersebut dilakukan dalam rangka           The issuance of the sukuk is carried out as part of the
    kerjasama antara BSI dengan BP Tapera selaku               collaboration between BSI and BP Tapera, where BSI
    investor tunggal dimana BSI ditunjuk sebagai Bank          is appointed as the Sharia Housing Financing
    Penyalur KPR Tapera Syariah kepada peserta BP              Distributor to BP Tapera participants. This collaboration
    Tapera. Skema kerjasama tersebut diatur pada               scheme is regulated under Law No. 4 of 2016 and
    Undang-Undang No.4 Tahun 2016 dan Peraturan                Government Regulation No. 25 of 2020 regarding
    Pemerintah No.25 tahun 2020 perihal pembiayaan             housing financing through banks or financing
    perumahan     melalui   Bank    atau   perusahaan          companies.
    pembiayaan.



                                                             256                                     ANNUAL REPORT 2023     1323
Page 817
            MAIN                                MANAGEMENT                                        COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                          REPORTS                                           PROFILE                                      ANALYSIS


                                                                 PT BANK MANDIRI (PERSERO) Tbk.
                                                            DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


            31. ESTIMASI KERUGIAN ATAS KOMITMEN DAN                                                31. ESTIMATED LOSSES ON COMMITMENTS AND
                KONTINJENSI                                                                            CONTINGENCIES
                a.   Transaksi        komitmen          dan     kontijensi       sebagai               a.      Transactions of commitments and contigencies
                     berikut:                                                                                  are as follows:


                                                                                     2023                            2022
                     Rupiah                                                                                                                                              Rupiah
                         Bank garansi yang diterbitkan                                                                                                  Bank guarantee issued
                           (Catatan 54)                                               66.733.622                      67.983.979                                  (Note 54)
                         Fasilitas kredit yang diberikan
                           yang belum digunakan*)                                     53.782.999                      58.225.671                    Unused loan facilities*)
                         Letter of credit yang tidak dapat                                                                                    Outstanding irrevocable letter
                           dibatalkan (Catatan 54)                                      7.916.626                      7.373.846                       of credit (Note 54)
                         Standby letter of credit                                                                                                   Standby letter of credit
                           (Catatan 54)                                                 2.707.117                      2.940.072                                 (Note 54)
                     Total                                                          131.140.364                      136.523.568                                                      Total
                     Mata uang asing                                                                                                                          Foreign currencies
                         Bank garansi yang diterbitkan                                                                                                  Bank guarantee issued
                           (Catatan 54)                                               47.866.831                      43.022.528                                  (Note 54)
                         Fasilitas kredit yang diberikan
                             yang belum digunakan*)                                   33.193.967                      25.679.721                     Unused loan facilities*)
                         Letter of credit yang tidak dapat                                                                                     Outstanding irrevocable letter
                             dibatalkan (Catatan 54)                                  12.965.346                      20.943.435                       of credit (Note 54)
                         Standby letter of credit                                                                                                    Standby letter of credit
                           (Catatan 54)                                               12.052.165                       8.890.240                                 (Note 54)
                     Total                                                          106.078.309                       98.535.924                                                      Total
                                                                                    237.218.673                      235.059.492
                     *)    Termasuk fasilitas kredit committed dan uncommitted kartu kredit                    *)     Including unused committed and uncommitted credit card facilities
                           yang belum digunakan.


                     Berikut adalah perubahan nilai tercatat atas                                              Movements in carrying amount of commitments
                     komitmen dan kontinjensi dengan klasifikasi                                               and contigencies classified as amortised cost upon
                     biaya perolehan diamortisasi berdasarkan stage                                            stage for the period and year ended 31 December
                     untuk tahun yang berakhir 31 Desember 2023                                                2023 and 2022 are as follows:
                     dan 2022:
                                                                                                       2023
                                                                                                                            Syariah*)/
                                                            Stage 1              Stage 2             Stage 3                 Sharia*)               Total

                     Saldo awal tahun                      222.612.365             9.250.636            305.472                2.891.019          235.059.492            Beginning balance
                     Pengalihan ke/(dari):                                                                                                                               Transfer to/(from):
                       - Stage 1                              4.018.909           (3.955.133)           (63.776)                          -                     -              Stage 1 -
                       - Stage 2                            (8.241.809)             8.314.609           (72.800)                          -                     -              Stage 2 -
                       - Stage 3                                (25.776)            (780.412)            806.188                          -                     -              Stage 3 -
                     Total saldo awal                                                                                                                               Total beginning balance
                       setelah pengalihan                  218.363.689            12.829.700            975.084                2.891.019          235.059.492               after transfer
                     Pengukuran kembali bersih                                                                                                                      Remeasurement of net
                       nilai tercatat                      (15.646.437)            (1.312.653)                 292                        -       (16.958.798)         carrying amount
                                                                                                                                                                    New commitments and
                     Komitmen dan kontinjensi                                                                                                                              contigencies
                       baru yang diterbitkan                                                                                                                               originated or
                       atau dibeli                         170.138.089             5.664.912            964.146                2.232.149          178.999.296                purchased
                     Komitmen dan kontinjensi                                                                                                                           Commitments and
                       yang dihentikan                                                                                                                                     contigencies
                       pengakuannya                       (150.980.403)           (6.677.797)          (303.761)             (1.919.356)        (159.881.317)            derecognised
                     Total kenaikan/                                                                                                                                        Total increase/
                       (penurunan)                                                                                                                                           (decrease)
                       tahun berjalan                         3.511.249           (2.325.538)           660.677                  312.793             2.159.181           during the year
                     Saldo akhir tahun**)                  221.874.938            10.504.162           1.635.761               3.203.812          237.218.673            Ending balance**)


                     *)     Tidak menerapkan PSAK 71                                                           *)      Not implement SFAS 71
                     **)    Termasuk fasilitas kredit yang diberikan yang belum digunakan untuk                **)     Including the unused credit facilities for credit cards amounted to
                            kartu kredit sebesar Rp34.687.343.                                                         Rp34,687,343.




1324 PT Bank Mandiri (Persero) Tbk                                                                   257
Page 818
     CORPORATE                            ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                                     LAPORAN
                                                                                                                                                      Financial
     GOVERNANCE                           & PRACTICES                                  RESPONSIBILITY                                               KEUANGAN   2023
                                                                                                                                                      Statements 2023


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


31. ESTIMASI KERUGIAN ATAS KOMITMEN DAN                                                31. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                                                 CONTINGENCIES (continued)

    a.   Transaksi komitmen                 dan     kontijensi       sebagai               a.     Transactions of commitments and contigencies
         berikut (lanjutan):                                                                      are as follows (continued):
                                                                                           2022
                                                                                                               Syariah*)/
                                                Stage 1              Stage 2            Stage 3                 Sharia*)                Total

         Saldo awal tahun                      223.551.457                7.107.360         295.167               1.724.608           232.678.592              Beginning balance
         Pengalihan ke/(dari):                                                                                                                                 Transfer to/(from):
           - Stage 1                                 252.401               (175.246)        (77.155)                         -                       -               Stage 1 -
           - Stage 2                              (3.192.940)             3.196.982          (4.042)                         -                       -               Stage 2 -
           - Stage 3                                 (44.584)               (49.111)         93.695                          -                       -               Stage 3 -
         Total saldo awal                                                                                                                                Total beginning balance
           setelah pengalihan                  220.566.334            10.079.985            307.665               1.724.608           232.678.592                after transfer
         Pengukuran kembali bersih                                                                                                                        Remeasurement of net
           nilai tercatat                         (2.647.919)              (181.363)             3.743                       -          (2.825.539)          carrying amount
                                                                                                                                                          New commitments and
         Komitmen dan kontinjensi                                                                                                                                contigencies
           baru yang diterbitkan                                                                                                                                 originated or
           atau dibeli                         191.821.257                5.180.223             98.752            1.881.382           198.981.614                  purchased
         Komitmen dan kontinjensi                                                                                                                             Commitments and
           yang dihentikan                                                                                                                                       contigencies
           pengakuannya                       (187.127.307)            (5.828.209)         (104.688)              (714.971)         (193.775.175)              derecognised
         Total kenaikan/                                                                                                                                          Total increase/
           (penurunan)                                                                                                                                             (decrease)
           tahun berjalan                         2.046.031                (829.349)            (2.193)           1.166.411              2.380.900             during the year
         Saldo akhir tahun**)                  222.612.365                9.250.636         305.472               2.891.019           235.059.492              Ending balance**)

         *)     Tidak menerapkan PSAK 71                                                          *)      Not implement SFAS 71
         **)    Termasuk fasilitas kredit yang diberikan yang belum digunakan untuk               **)     Including the unused credit facilities for credit cards amounted to
                kartu kredit sebesar Rp36.533.367.                                                        Rp36,533,367.

    b.   Berdasarkan kolektibilitas Bank Indonesia:                                        b.     By Bank Indonesia’s collectibility:

                                                                           2023                         2022

         Lancar                                                           231.413.861                   228.260.580                                                 Current
         Dalam perhatian khusus                                             5.711.143                     6.554.760                                         Special mention
         Kurang lancar                                                          4.061                         4.209                                           Substandard
         Diragukan                                                             53.243                        48.627                                                Doubtful
         Macet                                                                 36.365                       191.316                                                   Loss
         Total                                                            237.218.673                   235.059.492                                                    Total
         Dikurangi: cadangan kerugian                                                                                                                    Less: allowance for
             penurunan nilai                                                (1.143.758)                 (2.073.429)                                       impairment losses
         Komitmen dan                                                                                                                              Commitments and
            kontinjensi - neto                                            236.074.915                   232.986.063                              contingencies - net

    c.   Mutasi cadangan kerugian                       penurunan           nilai          c.     Movements of allowance for impairment losses on
         komitmen dan kontinjensi:                                                                commitments and contingencies:
                                                                           2023                         2022

         Saldo awal tahun                                                    2.073.429                    2.295.241                                      Beginning balance
         Pembalikan penyisihan selama                                                                                                                      Reversal during
             tahun berjalan                                                   (918.531)                   (255.268)                                              the year
         Lain-lain*)                                                           (11.140)                      33.456                                                Others*)

         Saldo akhir tahun                                                   1.143.758                    2.073.429                                        Ending balance

         *)    Termasuk selisih kurs karena penjabaran mata uang asing.                           *)      Included effect of foreign currencies translation.




                                                                                          258                                                            ANNUAL REPORT 2023          1325
Page 819
            MAIN                               MANAGEMENT                                        COMPANY                                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                           PROFILE                                          ANALYSIS


                                                               PT BANK MANDIRI (PERSERO) Tbk.
                                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


            31. ESTIMASI KERUGIAN ATAS KOMITMEN DAN                                               31. ESTIMATED LOSSES ON COMMITMENTS AND
                KONTINJENSI (lanjutan)                                                                CONTINGENCIES (continued)
                c.   Mutasi cadangan kerugian penurunan                                nilai          c.      Movements of allowance for impairment losses on
                     komitmen dan kontinjensi (lanjutan):                                                     commitments and contingencies (continued):
                                                                                                      2023
                                                                                                                           Syariah*)/
                                                           Stage 1             Stage 2              Stage 3                 Sharia*)                 Total

                     Saldo awal tahun                         489.027            1.326.709             228.819                    28.874              2.073.429               Beginning balance
                     Pengalihan ke/(dari):                                                                                                                                    Transfer to/(from):
                       Kerugian kredit                                                                                                                                    12 months expected
                         ekpektasian 12 bulan                   24.437                (19.927)             (4.510)                        -                       -           credit losses
                       Kerugian kredit
                         ekspektasian sepanjang
                         umurnya - tidak                                                                                                                                    Lifetime expected
                         mengalami penurunan                                                                                                                                   credit losses
                         nilai                                (12.474)                 18.975              (6.501)                        -                           -         unimpaired
                       Kerugian kredit
                         ekspektasian sepanjang                                                                                                                             Lifetime expected
                         umurnya - mengalami                                                                                                                                   credit losses
                         penurunan nilai                        (1.498)          (284.265)             285.763                                -                       -            impaired
                     Total saldo awal                                                                                                                            Total beginning balance
                        setelah pengalihan                    499.492            1.041.492             503.571                    28.874              2.073.429          after transfer
                     Pengukuran kembali bersih                                                                                                                    Remeasurement of net
                        penyisihan kerugian                  (120.198)           (199.279)            (206.147)                     3.246              (522.378)      carrying amount
                     Aset keuangan baru yang                                                                                                                        New financial assets
                        diterbitkan atau                      227.749                 383.547          110.631                            -              721.927          originated or
                        dibeli                                                                                                                                              purchased
                     Aset keuangan yang                                                                                                                                  Financial assets
                        dihentikan pengakuannya              (124.214)           (749.704)            (244.162)                           -          (1.118.080)        derecognised
                     Total (pembalikan)/                                                                                                                                         Total (reversal)/
                        pembentukan                                                                                                                                                 allowance
                        tahun berjalan                        (16.663)           (565.436)            (339.678)                     3.246              (918.531)               during the year
                     Lain-lain**)                             (10.941)                (97)                    -                     (102)               (11.140)                         Others**)
                     Saldo akhir tahun                        471.888                 475.959          163.893                    32.018              1.143.758                 Ending balance

                     *)    Tidak menerapkan PSAK 71                                                           *)     Not implement SFAS 71
                     **)   Termasuk selisih kurs karena penjabaran mata uang asing.                           **)    Included effect of foregin currencies translation

                                                                                                      2022
                                                                                                                           Syariah*)/
                                                           Stage 1             Stage 2              Stage 3                 Sharia*)                 Total

                     Saldo awal tahun                         776.560            1.309.629             191.858                    17.194              2.295.241               Beginning balance
                     Pengalihan ke/(dari):                                                                                                                              Transfer to/(from):
                       Kerugian kredit                                                                                                                              12 months expected
                         ekpektasian 12 bulan                   15.255                (12.705)             (2.550)                        -                       -     credit losses
                       Kerugian kredit
                         ekspektasian sepanjang
                         umurnya- tidak                                                                                                                                     Lifetime expected
                         mengalami penurunan                                                                                                                                   credit losses
                         nilai                                (207.427)               207.607                (180)                        -                       -            - unimpaired
                       Kerugian kredit
                         ekspektasian sepanjang                                                                                                                             Lifetime expected
                         umurnya- mengalami                                                                                                                                    credit losses
                         penurunan nilai                        (1.173)                (2.701)              3.874                         -                       -               - impaired
                     Total saldo awal                                                                                                                            Total beginning balance
                        setelah pengalihan                    583.215            1.501.830             193.002                    17.194              2.295.241          after transfer
                     Pengukuran kembali bersih                                                                                                                    Remeasurement of net
                        penyisihan kerugian                   (215.556)               118.946              31.747                 11.284                (53.579)      carrying amount
                     Aset keuangan baru yang                                                                                                                        New financial assets
                        diterbitkan atau                                                                                                                                  originated or
                        dibeli                                230.392                 914.173              63.862                         -           1.208.427             purchased
                     Aset keuangan yang                                                                                                                                  Financial assets
                        dihentikan pengakuannya               (138.886)         (1.211.438)            (59.792)                           -          (1.410.116)        derecognised
                     Total (pembalikan)/                                                                                                                                         Total (reversal)/
                        pembentukan                                                                                                                                                 allowance
                        tahun berjalan                        (124.050)           (178.319)                35.817                 11.284                (255.268)              during the year
                     Lain-lain**)                               29.862               3.198                      -                    396                  33.456                         Others**)
                     Saldo akhir tahun                        489.027            1.326.709             228.819                    28.874              2.073.429                 Ending balance

                     *)    Tidak menerapkan PSAK 71                                                           *)     Not implement SFAS 71
                     **)   Termasuk selisih kurs karena penjabaran mata uang asing.                           **)    Included effect of foregin currencies translation

                     Manajemen berpendapat bahwa cadangan                                                     Management believes that the allowance for
                     kerugian penurunan nilai komitmen dan                                                    impairment     losses   on commitments and
                     kontinjensi telah memadai.                                                               contingencies is adequate.



1326 PT Bank Mandiri (Persero) Tbk                                                                  259
Page 820
     CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                           Financial
     GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                           KEUANGAN   2023
                                                                                                           Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


31. ESTIMASI KERUGIAN ATAS KOMITMEN DAN                        31. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                         CONTINGENCIES (continued)

    d.   Informasi mengenai pengelompokan berdasarkan                 d. Information in respect of classification of
         kelompok “tidak mengalami penurunan nilai” dan                  “non-impaired” and “impaired” is disclosed in Note
         “mengalami penurunan nilai” diungkapkan pada                    62.A.
         Catatan 62.A.

    e.   Simpanan nasabah dan simpanan dari bank lain                 e. Deposits from customers and deposits from other
         yang dijadikan jaminan tunai untuk bank garansi                 banks pledged as collateral for bank guarantee and
         dan letter of credit yang tidak dapat dibatalkan                irrevocable letter of credit as of 31 December 2023
         pada tanggal 31 Desember 2023 dan 2022                          and 2022 were amounted to Rp12,294,275 and
         adalah masing-masing sebesar Rp12.294.275                       Rp11,363,018, respectively (Notes 21c and 24c).
         dan Rp11.363.018 (Catatan 21c dan 24c).


32. BEBAN YANG MASIH HARUS DIBAYAR                             32. ACCRUED EXPENSES

                                                      2023                  2022
     Beban bunga                                        1.922.706             1.565.557                       Interest expense
     Pengadaan aset tetap,                                                                             Fixed assets, software,
         perangkat lunak,                                                                                   operational, and
         operasional dan ATM                            1.424.041             2.352.674                   ATM procurement
     Pemasaran                                            576.801             1.077.634                             Promotions
     Tenaga kerja dan                                                                            Third party labor service and
         jasa pihak ketiga                                 168.852             643.082                outsourcing expenses
     Jasa profesional                                       80.914             214.190              Professional service costs
     Iuran regulator                                        40.345              68.196                           Regulator fee
     Pelatihan, pakaian dinas dan rekreasi                  34.908              61.656        Training, uniform and recreation
     Pengembangan usaha                                          -              11.561                  Business development
     Lain-lain                                             550.879             499.244                                  Others

     Total                                              4.799.446             6.493.794                                 Total

    Termasuk dalam pengadaan aset tetap, perangkat                    Included in the fixed assets, software, operational and
    lunak, operasional dan ATM adalah utang kepada                    ATM procurement are payables to vendors related to
    pemasok atau vendor terkait kegiatan operasional                  operational and maintenance activities for buildings,
    dan pemeliharaan gedung, peralatan, perangkat                     equipments, software, ATM machines and Information
    lunak, mesin ATM dan sistem Teknologi Informasi                   Technology System of the Group. Others consists of
    Grup. Lain-lain terdiri dari beban yang masih harus               accrued expenses related to fees to be paid in relation
    dibayar terkait transaksi operasional kegiatan Grup,              to Group’s operational activities, such as data
    seperti biaya komunikasi data dan biaya listrik, air dan          communication costs and costs of electricity, water and
    gas.                                                              gas.

33. PERPAJAKAN                                                 33. TAXATION

    a.   Pajak dibayar dimuka                                         a.   Prepaid taxes

                                                      2023                  2022


         Bank Mandiri                                      239.757             979.174                          Bank Mandiri
         Entitas Anak                                      196.775             185.751                           Subsidiaries

         Total                                             436.532            1.164.925                                 Total




                                                                     260                                  ANNUAL REPORT 2023     1327
Page 821
            MAIN                           MANAGEMENT                    COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                     REPORTS                       PROFILE                           ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            33. PERPAJAKAN (lanjutan)                                      33. TAXATION (continued)

                b.   Utang pajak                                                  b.   Taxes payable

                                                                 2023                    2022

                     Utang Pajak Kini                                                                      Current income taxes payable
                         Bank Mandiri                                  549.319              796.520                      Bank Mandiri
                         Entitas Anak                                  303.042              459.524                       Subsidiaries

                                                                       852.361            1.256.044


                     Utang Pajak Lainnya                                                                              Other taxes payable

                     Bank Mandiri                                                                                            Bank Mandiri
                     Pajak Penghasilan                                                                                         Income Tax
                         Pasal 25                                      255.817              673.746                            Article 25
                         Pasal 21                                      248.873              149.892                            Article 21
                         Pasal 4 (2)                                   361.810              250.899                          Article 4 (2)
                     Lain-lain                                         226.360              166.783                                  Others

                                                                   1.092.860              1.241.320
                     Entitas Anak                                    745.681              1.093.158                           Subsidiaries

                                                                   1.838.541              2.334.478

                     Total                                         2.690.902              3.590.522                                   Total


                c.   Beban/(manfaat) pajak                                        c.   Tax expense/(benefit)

                                                                 2023                    2022

                     Beban pajak - kini:                                                                            Tax expense - current:
                        Bank Mandiri                              10.015.624              9.329.662                       Bank Mandiri
                        Entitas Anak                               2.892.050              2.567.672                        Subsidiaries

                                                                  12.907.674             11.897.334


                     Beban/(manfaat) pajak - tangguhan:                                                   Tax expense/(benefit) - deferred:
                        Bank Mandiri                               1.674.707               (243.655)                     Bank Mandiri
                        Entitas Anak                                  50.630               (228.321)                      Subsidiaries

                                                                   1.725.337               (471.976)

                     Total                                        14.633.011             11.425.358                                   Total


                     Seperti yang dijelaskan pada Catatan 2ad, pajak                   As explained in Note 2ad, income tax for Bank
                     penghasilan untuk Bank Mandiri dan Entitas                        Mandiri and its Subsidiaries are calculated for each
                     Anak dihitung untuk setiap perusahaan sebagai                     company as a separate legal entity.
                     suatu badan hukum yang terpisah.




1328 PT Bank Mandiri (Persero) Tbk                                               261
Page 822
     CORPORATE                 ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
     GOVERNANCE                & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


33. PERPAJAKAN (lanjutan)                                        33. TAXATION (continued)
    d.   Beban pajak - kini                                             d.   Tax expense – current
         Rekonsiliasi antara laba sebelum beban pajak                        The reconciliation between income before tax as
         pada laporan laba rugi dan penghasilan                              shown in consolidated statement of profit or loss
         komprehensif lain konsolidasian dan perhitungan                     and other comprehensive income and income tax
         pajak penghasilan dan beban pajak kini untuk                        calculation and current tax expense for Bank
         Bank Mandiri dan taksiran beban pajak kini                          Mandiri and the estimated current tax expense for
         Entitas Anak adalah sebagai berikut:                                Subsidiaries are as follows:
                                                     2023                      2022

         Laba konsolidasian sebelum beban                                                       Consolidated income before tax
             pajak dan kepentingan                                                                expense and non-controlling
             nonpengendali                           74.684.881               56.377.726                              interests
         Dikurangi:                                                                                                         Less:
             Laba sebelum beban pajak                                                           Income before tax expense of
                 Entitas Anak - setelah                                                                  Subsidiaries - after
                 eliminasi                          (15.860.851)             (13.077.504)                        elimination
             Dampak perubahan metode                                                                     Impact of changes in
                 pencatatan investasi                                                                investment recognition
                 dari metode ekuitas ke                                                               from equity method to
                 metode biaya                          3.963.179                3.478.211                      cost method
         Laba sebelum beban pajak dan                                                               Income before tax expense
             kepentingan non                                                                      and non-controlling interests
             pengendali - Bank Mandiri saja          62.787.209               46.778.433                  - Bank Mandiri only
         Ditambah/(dikurangi) perbedaan                                                                 Add/(deduct) permanent
             permanen:                                                                                            differences:
             Biaya yang tidak dapat
                 dikurangkan menurut
                 pajak/(pendapatan tidak                                                             Non-deductible expenses/
                 kena pajak)                         (1.331.776)                   25.992              (non-taxable income)
             Lain-lain                                         -                    (940)                               Others
         Ditambah/(dikurangi) perbedaan                                                                 Add/(deduct) temporary
             temporer:                                                                                           differences:
             Cadangan kerugian penurunan
                 nilai dan penghapusan                                                        Allowance for impairment losses
                 kredit yang diberikan                                                                and write-offs of loans
                 dan piutang/pembiayaan                                                              and sharia receivables/
                 syariah                             (7.085.029)                1.208.815                             financing
             Cadangan kerugian penurunan                                                             Allowance for impairment
                 nilai aset keuangan selain                                                                losses on financial
                 kredit yang diberikan                                                               assets other than loans
                 dan piutang/pembiayaan                                                              and sharia receivables/
                 syariah                               (102.868)                  (3.400)                             financing
             Penyisihan biaya uang                                                              Provision for post-employment
                  penghargaan pegawai dan                                                                    benefit expense,
                 cadangan atas bonus dan                                                             provisions for bonuses,
                 insentif, cuti dan                                                                         leave and holiday
                 THR pegawai                           (531.679)                1.138.748                 (THR) entitlements
             Penyisihan atas estimasi                                                                  Allowance for estimated
                  kerugian yang timbul                                                                    losses arising from
                 dari kasus hukum                          (20.451)              (13.743)                           legal cases
             Estimasi kerugian atas komitmen                                                 Provision for estimated losses on
                 dan kontinjensi                       (932.769)                (233.446)       commitments contingencies
             Penyisihan kerugian agunan                                                                Provision for foreclosed
                 Yang diambil alih                               -               219.824                      collateral losses
             Penyusutan aset tetap                          94.238               (17.468)          Depreciation of fixed assets
             (Kerugian)/keuntungan yang                                                              Unrealised (losses)/gains
                 belum direalisasi dari                                                              on (decrease)/increase
                  (penurunan)/kenaikan                                                                          in fair value of
                  nilai wajar efek-efek dan                                                            marketable securities
                 obligasi pemerintah - diukur                                                       and government bonds -
                 pada nilai wajar melalui                                                                   fair value through
                 laporan laba rugi                     (146.520)                      851                         profit or loss
             Penyisihan kerugian properti                                                     Allowance for possible losses of
                 terbengkalai                              (16.547)                      -            abandoned properties
         Taksiran laba menurut pajak                 52.713.808               49.103.486              Estimated taxable income
         Taksiran beban pajak - kini                                                            Estimated tax expense - current
             Bank Mandiri                            10.015.624                 9.329.662                     Bank Mandiri
             Entitas Anak                             2.892.050                 2.567.672                      Subsidiaries
         Total                                       12.907.674               11.897.334                                    Total



                                                                      262                                    ANNUAL REPORT 2023     1329
Page 823
            MAIN                       MANAGEMENT                         COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                            ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            33. PERPAJAKAN (lanjutan)                                       33. TAXATION (continued)

                d.   Beban pajak - kini (lanjutan)                                 d.   Tax expense - current (continued)

                     Pajak atas laba Bank Mandiri dan Entitas Anak                      Tax on Bank Mandiri and Subsidiaries (Group)’s
                     (Grup) sebelum pajak berbeda dari nilai teoritis                   profit before tax differs from the theoretical amount
                     yang mungkin muncul apabila menggunakan                            that would arise using the weighted average tax
                     rata-rata tertimbang tarif pajak terhadap laba                     rate applicable to profits on the consolidated
                     pada Grup dalam jumlah sebagai berikut:                            entities are follows:

                                                                 2023                     2022

                     Laba konsolidasian sebelum                                                                 Consolidated income before
                         beban pajak dan kepentingan                                                                     tax expense and
                         nonpengendali                           74.684.881               56.377.726               non-controlling interest

                     Pajak dihitung dengan tarif                                                                Tax calculated at applicable
                         pajak berlaku                           15.418.957               11.764.953                              tax rates

                     Dampak pajak penghasilan pada:                                                                   Income tax effect of:
                        Bank Mandiri                                                                                         Bank Mandiri
                     Penghasilan tidak kena pajak                                                                      Income not subject to
                        dan pajak final                            (381.257)                (350.892)                      tax and final tax
                     Beban yang tidak dapat
                        dikurangkan untuk tujuan                                                                Expenses not deductible for
                        perpajakan                                     128.219               355.652                       tax purposes
                     Taksiran laba menurut pajak                   (253.038)                    4.760             Estimated taxable income
                     Entitas Anak                                  (532.908)                (344.355)                          Subsidiaries

                     Total dampak pajak penghasilan                (785.946)                (339.595)                         Total tax effect

                     Beban pajak penghasilan                     14.633.011               11.425.358                   Income tax expense

                     Berdasarkan peraturan perpajakan di Indonesia,                     According to the taxation laws of Indonesia, Bank
                     Bank Mandiri dan Entitas Anak menyampaikan                         Mandiri and Subsidiaries submit the Annual
                     Surat Pemberitahuan Pajak Tahunan ke kantor                        Corporate Income Tax Returns to the tax office on
                     pajak atas dasar self-assessment. Kantor pajak                     the basis of self assessment. The Directorate
                     berhak memeriksa atau mengoreksi pajak dalam                       General of Tax may assess or amend taxes within
                     jangka waktu 5 (lima) tahun setelah tanggal pajak                  5 (five) years from the tax due date.
                     terutang.

                     Sejak tahun 2009, Bank Mandiri mengakui kredit                     Starting from 2009, Bank Mandiri has recognised
                     yang dihapusbuku sebagai pengurang laba bruto                      written-off loans as deduction of gross profit by
                     dalam perhitungan Pajak Penghasilan Badan                          fullfiling the three requirements stipulated in
                     dengan memenuhi tiga ketentuan yang
                     disyaratkan sesuai dengan Undang-Undang                            UU No. 36 Year 2008 dated 23 September 2008
                     No. 36 Tahun 2008 tanggal 23 September 2008                        related Income Tax and Regulation of the Minister
                     tentang Pajak Penghasilan dan Peraturan                            of Finance No. 105/PMK.03/2009 dated 10 June
                     Menteri Keuangan No. 105/PMK.03/2009 tanggal                       2009 related uncollectible receivables that could be
                     10 Juni 2009 tentang Piutang yang Nyata-                           deducted from gross income, which was amended
                     Nyata Tidak Dapat Ditagih yang Dapat                               by Regulation of the Minister of Finance
                     Dikurangkan dari Penghasilan Bruto yang                            No. 57/PMK.03/2010 dated 9 March 2010 and
                     telah    diubah   oleh   Peraturan    Menteri
                     Keuangan No. 57/PMK.03/2010 tanggal 9 Maret                        Regulation     of   the    Minister   of    Finance
                     2010 dan Peraturan Menteri Keuangan                                No. 207/PMK.010/2015 dated 20 November 2015.
                     No. 207/PMK.010/2015 tanggal 20 November
                     2015.

                     Undang-Undang Republik Indonesia Nomor 7                           Law of the Republic of Indonesia Number 7 Year
                     Tahun 2021 tanggal 29 Oktober 2021 tentang                         2021 dated 29 October 2021 regarding
                     Harmonisasi Peraturan Perpajakan (“Undang-                         Harmonization of Tax Regulations (“Law Number 7
                     Undang Nomor 7 Tahun 2021”) mengatur bahwa                         Year 2021”) stipulates that the income tax rate for
                     tarif pajak penghasilan Wajib Pajak badan dalam                    domestic corporate taxpayers and permanent
                     negeri dan bentuk usaha tetap adalah sebesar                       establishments is 22% (twenty two percent) with
                     22% (dua puluh dua persen) yang mulai berlaku                      effect from the 2022 fiscal year onwards. Thus, the
                     pada tahun pajak 2022 dan seterusnya. Dengan                       previous tax rate setting of 20% (twenty percent)
                     demikian, penetapan tarif pajak sebelumnya                         becomes invalid after this Law is enacted.
                     sebesar 20% (dua puluh persen) menjadi tidak
                     berlaku setelah Undang-Undang ini disahkan.



1330 PT Bank Mandiri (Persero) Tbk                                               263
Page 824
     CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                        Financial
     GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                         KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


33. PERPAJAKAN (lanjutan)                                      33. TAXATION (continued)

    d.   Beban pajak - kini (lanjutan)                            d.   Tax expense - current (continued)

         Berdasarkan        Undang-Undang           Republik           Based on Law of the Republic of Indonesia
         Indonesia Nomor 7 Tahun 1983 tentang Pajak                    Number 7 Year 1983 regarding Income Tax as
         Penghasilan sebagaimana telah beberapa kali                   amended several times, most recently by Law
         diubah terakhir dengan Undang-Undang Nomor 7                  Number 7 Year 2021 and Government Regulation
         Tahun 2021 dan Peraturan Pemerintah Republik                  of the Republic of Indonesia Number 55 Year 2022
         Indonesia Nomor 55 Tahun 2022 tanggal                         dated 20 December 2022 regarding Amandment of
         20 Desember 2022 tentang Penyesuaian                          Regulations related to Income Tax Sector,
         Pengaturan di Bidang Pajak Penghasilan, Wajib                 domestic taxpayers in the form of public listed
         Pajak dalam negeri yang berbentuk Perseroan                   companies with the total number of paid-up shares
         Terbuka dengan jumlah keseluruhan saham yang                  traded on the stock exchange in Indonesia at least
         disetor diperdagangkan pada bursa efek di                     40% (forty percent) and fulfilling certain
         Indonesia paling sedikit 40% (empat puluh                     requirements, may obtain a rate of 3% (three
         persen) dan memenuhi persyaratan tertentu,                    percent) lower than the highest existing income tax
         dapat memperoleh tarif sebesar 3% (tiga persen)               rate.
         lebih rendah dari tarif tertinggi pajak penghasilan
         yang ada.

         Berdasarkan Peraturan Menteri Keuangan                        Based on the Regulation of the Minister of Finance
         Republik Indonesia Nomor 40 Tahun 2023                        of the Republic of Indonesia Number 40 Year 2023
         tanggal 11 April 2023 tentang Bentuk dan Tata                 dated 11 April 2023 concerning Forms and
         Cara Penyampaian Laporan Serta Daftar Wajib                   Procedures for Submitting Reports and Lists of
         Pajak Dalam Rangka Pemenuhan Persyaratan                      Taxpayers      regarding    to     Fullfillment  of
         Penurunan Tarif Pajak Penghasilan Bagi Wajib                  Requirements for Reduction of Income Tax Rates
         Pajak Dalam Negeri Yang Berbentuk Perseroan                   for Domestic Taxpayers in the Form of Public
         Terbuka, Wajib Pajak harus menyampaikan                       Companies, taxpayers must submit monthly
         laporan bulanan kepemilikan saham atas emiten                 reports on share ownership of issuers or public
         atau perusahaan publik dan rekapitulasi yang                  companies and recapitulations that have been
         telah dilaporkan dari Biro Administrasi Efek dan              reported from the Securities Administration Bureau
         laporan kepemilikan saham yang memiliki                       and reports of share ownership that have special
         hubungan istimewa sebagai bagian dari SPT                     relations as part of the Annual Income Tax Return
         Tahunan PPh untuk setiap Tahun Pajak.                         for each Fiscal Year.

         Berdasarkan Surat Keterangan No.DE/I/2024-                    Based on Statement Letter No. DE/I/2024-0194
         0194 tanggal 4 Januari 2024 perihal Laporan                   dated 4 January 2024 concerning Monthly Report
         Bulanan Kepemilikan Saham Emiten atau                         of Share Ownership of Issuers or Public
         Perusahaan Publik dan Rekapitulasi yang Telah                 Companies and Reported Recapitulation (Form of
         Dilaporkan     (Formulir    Lampiran    POJK                  POJK Appendix No. 10/POJK 04/2020) from
         No. 10/POJK.04/2020) dari PT Datindo Entrycom                 PT Datindo Entrycom (Administrative Bureau
         (Biro Administrasi Efek atau BAE), yang                       Securities or BAE), which was submitted to Bank
         disampaikan kepada Bank Mandiri, dimana BAE                   Mandiri, where the BAE stated that Bank Mandiri
         menyatakan Bank Mandiri telah memenuhi                        had complied with the provisions of Article 65 of
         ketentuan Pasal 65 Peraturan Pemerintah                       Government Regulation of the Republic of
         Republik Indonesia Nomor 55 Tahun 2022                        Indonesia Number 55 Year 2022 dated
         tanggal 20 Desember 2022 tentang Penyesuaian                  20 December 2022 regarding Amandment of
         Pengaturan di Bidang Pajak Penghasilan.                       Regulations related to Income Tax Sector.

         Bank berkeyakinan bahwa Bank akan memenuhi                    The Bank believes that the Bank will fulfill the
         persyaratan    untuk    memperoleh      fasilitas             requirements to obtain the income tax rate
         penurunan tarif pajak penghasilan untuk tahun                 reduction facility for the year ended 31 December
         yang berakhir pada 31 Desember 2023 sesuai                    2023 in accordance with the tax provisions
         ketentuan perpajakan tersebut di atas, sehingga               mentioned above, so that Bank Mandiri's corporate
         untuk pajak penghasilan badan Bank Mandiri                    income tax for the year ended 31 December 2023
         untuk tahun yang berakhir pada tanggal                        is calculated using the tax rate 19%.
         31    Desember      2023    dihitung    dengan
         menggunakan tarif pajak 19%.



                                                                 264                                   ANNUAL REPORT 2023    1331
Page 825
            MAIN                                MANAGEMENT                           COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                          REPORTS                              PROFILE                                      ANALYSIS


                                                               PT BANK MANDIRI (PERSERO) Tbk.
                                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                           (Expressed in millions of Rupiah, unless otherwise stated)


            33. PERPAJAKAN (lanjutan)                                                    33. TAXATION (continued)

                e.   Aset pajak tangguhan – neto                                                   e.      Deferred tax assets - net

                     Pajak tangguhan yang timbul dari perbedaan                                            Deferred tax arises from temporary differences
                     temporer antara nilai buku menurut komersial                                          between book value based on commercial and tax
                     dan menurut pajak adalah sebagai berikut:                                             purposes are as follows:

                                                                                                   2023
                                                                               Dikreditkan/
                                                                              (dibebankan)
                                                                Saldo          ke laba rugi/              Dibebankan        Saldo
                                                                awal/           Credited/                 ke ekuitas/        akhir/
                                                              Beginning       (charged) to                Charged to        Ending
                                                               balance        profit or loss                equity          balane


                     Bank Mandiri                                                                                                                                   Bank Mandiri
                     Aset pajak tangguhan:                                                                                                                   Deferred tax assets:
                                                                                                                                                                     Allowance for
                     Cadangan kerugian penurunan nilai                                                                                                        impairment losses
                      kredit yang diberikan                     6.363.273          (1.346.156)                          -     5.017.117                    for loans and sharia
                      dan piutang/pembiayaan syariah                                                                                                     receivables/financing
                     Penyisihan biaya uang penghargaan                                                                                        Provisions for post-employment
                      pegawai dan cadangan                                                                                                                      benefit expense,
                      atas bonus dan insentif,                                                                                              provision for bonuses, leave and
                      cuti dan THR pegawai                      1.692.770           (101.018)                    (7.796)      1.583.956            holiday (THR) entitlements
                     Cadangan kerugian penurunan nilai                                                                                        Allowance for impairment losses
                      aset keuangan selain                                                                                                                   on financial assets
                      kredit yang diberikan                                                                                                       other than loans and sharia
                      dan piutang/pembiayaan syariah              696.917             (33.343)                          -       663.574                     receivables/financing
                     Keuntungan yang belum                                                                                                     Unrealised gain from increased
                      direalisasi dari kenaikan                                                                                                       fair value of marketable
                      nilai wajar efek-efek                                                                                                                       securities and
                      dan obligasi pemerintah -                                                                                                              government bonds
                      diukur pada nilai wajar                                                                                                         - measured at fair value
                      melalui pendapatan                                                                                                                           through other
                      komprehensif lain                           931.086                      -               (119.958)        811.128                comprehensive income
                     Penyisihan atas estimasi kerugian                                                                                         Allowance for estimated losses
                      yang timbul dari kasus hukum                 20.927              (3.886)                          -        17.041               arising from legal cases
                     Estimasi kerugian atas komitmen                                                                                        Estmated losses on commitments
                      dan kontinjensi                              36.275             (36.275)                          -              -                      and contingencies
                     Penyisihan kerugian                                                                                                     Allowance for possible losses on
                      properti terbengkalai                        16.338              (3.144)                          -        13.194                 abandoned properties
                     Penyisihan kerugian                                                                                                     Allowance for possible losses on
                      agunan yang diambil alih                     53.396                      -                        -        53.396                      repossessed asset


                     Aset pajak tangguhan                       9.810.982          (1.523.822)                 (127.754)      8.159.406                    Deferred tax assets

                     Liabilitas pajak tangguhan:                                                                                                          Deferred tax liabilities:
                     Keuntungan/(kerugian) yang                                                                                                      Unrealised gain/(loss) from
                       belum direalisasi dari                                                                                                           increase/(decrease) in
                       kenaikan/(penurunan) nilai wajar                                                                                     fair value of marketable securities
                       efek-efek dan obligasi                                                                                              and government bonds - fair value
                       pemerintah - nilai wajar                                                                                                                  through other
                       melalui laba rugi                           (7.827)            (27.839)                          -       (35.666)               comprehensive income
                     Nilai buku aset tetap                       (125.994)              17.905                          -      (108.089)          Net book value of fixed assets
                     Estimasi kerugian atas komitmen                                                                                          Estmated losses on commitments
                       dan kontinjensi                                    -         (140.951)                           -      (140.951)                    and contingencies


                     Aset pajak tangguhan neto -                                                                                                           Deferred tax assets
                      Bank Mandiri saja                         9.677.161          (1.674.707)                 (127.754)      7.874.700                  - Bank Mandiri only

                     Aset pajak tangguhan -                                                                                                                  Deferred tax assets
                      Entitas Anak                              2.368.318             (50.630)                  (13.144)      2.304.544                          - Subsidiaries


                     Total aset pajak tangguhan                                                                                                            Total consolidated
                      konsolidasian - neto                     12.045.479          (1.725.337)                 (140.898)     10.179.244             deferred tax assets - net




1332 PT Bank Mandiri (Persero) Tbk                                                             265
Page 826
     CORPORATE                             ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                                 LAPORAN
                                                                                                                                            Financial
     GOVERNANCE                            & PRACTICES                           RESPONSIBILITY                                           KEUANGAN   2023
                                                                                                                                            Statements 2023


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                              (Expressed in millions of Rupiah, unless otherwise stated)


33. PERPAJAKAN (lanjutan)                                                       33. TAXATION (continued)

    e.   Aset pajak tangguhan - neto (lanjutan)                                           e.       Deferred tax assets - net (continued)

         Pajak tangguhan yang timbul dari perbedaan                                               Deferred tax arises from temporary differences
         temporer antara nilai buku menurut komersial                                             between book value based on commercial and tax
         dan menurut pajak adalah sebagai berikut                                                 purposes are as follows (continued):
         (lanjutan):
                                                                                          2022
                                                                      Dikreditkan/                Dikreditkan/
                                                                     (dibebankan)                (dibebankan)
                                                       Saldo          ke laba rugi/                ke ekuitas/       Saldo
                                                       awal/            Credited/                   Credited/         akhir/
                                                     Beginning        (charged) to                (charged) to       Ending
                                                      balance        profit or loss                  equity          balane

         Bank Mandiri                                                                                                                                       Bank Mandiri
         Aset pajak tangguhan:                                                                                                                        Deferred tax assets:
                                                                                                                                                            Allowance for
         Cadangan kerugian penurunan nilai                                                                                                            impairment losses
           kredit yang diberikan                                                                                                                    for loans and sharia
           dan piutang/pembiayaan syariah              6.070.489             292.784                             -     6.363.273                   receivables/finaning
         Penyisihan biaya uang penghargaan                                                                                              Provisions for post-employment
           pegawai dan cadangan                                                                                                                         benefit expense,
           atas bonus dan insentif,                                                                                                   provision for bonuses, leave and
           cuti dan THR pegawai                        1.530.956             216.363                     (54.549)      1.692.770            holiday (THR) entitlements
         Kredit yang dihapusbukukan
           sampai dengan tahun 2008                      256.458            (256.458)                            -              -             Loans written-off until 2008
         Cadangan kerugian penurunan nilai                                                                                              Allowance for impairment losses
           aset keuangan selain                                                                                                                        on financial assets
           kredit yang diberikan dan                                                                                                                      other than loans
           piutang/pembiayaan syariah                    697.563                 (646)                           -       696.917            sharia receivables/financing
         Keuntungan yang belum                                                                                                           Unrealised gain from increased
          direalisasi dari kenaikan                                                                                                              fair value of marketable
          nilai wajar efek-efek                                                                                                                             securities and
          dan obligasi pemerintah -                                                                                                                    government bonds
          diukur pada nilai wajar                                                                                                                - measured at fair value
          melalui pendapatan                                                                                                                                 through other
          komprehensif lain                                      -                    -                 931.086          931.086                  comprehensive income
         Penyisihan atas estimasi kerugian                                                                                               Allowance for estimated losses
          yang timbul dari kasus hukum                    23.538               (2.611)                           -        20.927                 arising from legal cases
         Estimasi kerugian atas komitmen                                                                                               Estmated losses on commitments
          dan kontinjensi                                 80.630             (44.355)                            -        36.275                        and contingencies
         Penyisihan kerugian                                                                                                            Allowance for possible losses on
          properti terbengkalai                           16.338                      -                          -        16.338                   abandoned properties
         Penyisihan kerugian                                                                                                            Allowance for possible losses on
           agunan yang diambil alih                        9.757              43.639                             -        53.396                       repossessed asset
         Akumulasi rugi penurunan nilai                                                                                                 Accumulated losses arising from
           realisasi bersih agunan                                                                                                          differences in net realizable
           yang diambil alih                               1.871               (1.871)                           -              -          value of repossessed assets


         Aset pajak tangguhan                          8.687.600             246.845                    876.537        9.810.982                     Deferred tax assets

         Liabilitas pajak tangguhan:                                                                                                                Deferred tax liabilities:
         Keuntungan/(kerugian) yang                                                                                                            Unrealised gain/(loss) from
           belum direalisasi dari                                                                                                                 increase/(decrease) in
           kenaikan/(penurunan) nilai wajar                                                                                           fair value of marketable securities
           efek-efek dan obligasi                                                                                                    and government bonds - fair value
           pemerintah - nilai wajar                                                                                                                        through other
           melalui laba rugi                              (7.989)                162                             -         (7.827)               comprehensive income
         Keuntungan yang belum direalisasi                                                                                                  Unrealised gain from increase
           dari kenaikan nilai wajar                                                                                                                      in fair value of
           efek-efek dan obligasi pemerintah -                                                                                                 marketable securities and
           diukur pada nilai wajar melalui                                                                                                 government bonds - fair value
           pendapatan komprehensif lain                 (109.713)                   -                   109.713                -                    through profit or loss
         Nilai buku aset tetap                          (122.642)              (3.352)                        -         (125.994)           Net book value of fixed assets


         Aset pajak tangguhan neto -                                                                                                                 Deferred tax assets
          Bank Mandiri saja                            8.447.256             243.655                    986.250        9.677.161                   - Bank Mandiri only

         Aset pajak tangguhan -                                                                                                                        Deferred tax assets
          Entitas Anak                                 1.907.538             228.321                    232.459        2.368.318                           - Subsidiaries


         Total aset pajak tangguhan                                                                                                                  Total consolidated
          konsolidasian - neto                        10.354.794             471.976                  1.218.709       12.045.479              deferred tax assets - net



         Aset    pajak    tangguhan   dihitung  dengan                                            Deferred tax assets are calculated using applicable
         menggunakan tarif pajak yang berlaku atau                                                tax rate or substantially enacted tax rate at
         secara substansial telah berlaku pada tanggal                                            consolidated statement of financial position dates.
         laporan posisi keuangan konsolidasian.

         Manajemen    berpendapat     bahwa     terdapat                                          Management believes that it is possible that future
         kemungkinan besar jumlah laba fiskal pada masa                                           taxable income will be available to be utilised
         mendatang      akan       memadai         untuk                                          against the temporary difference, which resulted in
         mengkompensasi perbedaan temporer yang                                                   deferred tax assets.
         menimbulkan aset pajak tangguhan tersebut.



                                                                                      266                                                   ANNUAL REPORT 2023                  1333
Page 827
            MAIN                       MANAGEMENT                         COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                       ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            33. PERPAJAKAN (lanjutan)                                       33. TAXATION (continued)

                f.   Surat ketetapan pajak                                     f.   Tax assessment letter

                     Tahun pajak 2015                                               Fiscal year 2015

                     Berdasarkan hasil pemeriksaan pajak oleh                       According to the tax audit result from Tax Office,
                     Kantor Pajak, pada tanggal 26 November 2019,                   on 26 November 2019, the Bank received
                     Bank telah menerima Surat Ketetapan Pajak                      Underpayment Tax Assessment Letter (SKPKB) of
                     Kurang Bayar (SKPKB) atas PPh Badan untuk                      Corporate Income Tax for fiscal year 2015
                     tahun fiskal 2015 sebesar Rp918.160 (termasuk                  amounted to Rp918,160 (including penalties)
                     denda) dimana yang disetujui oleh Bank hanya                   which accepted by Bank amounted to Rp201,197
                     sebesar Rp201.197 dan dicatat sebagai beban                    only and recorded as current tax expense - prior
                     pajak kini - tahun sebelumnya di laporan laba rugi             year in the 2019 consolidated statement of profit or
                     konsolidasi tahun 2019. Pada tanggal 5                         loss. On 5 December 2019, the Bank has paid all
                     Desember 2019, Bank telah melakukan                            of the underpayment and has submitted an
                     pembayaran atas seluruh SKPKB PPh Badan                        objection letter on the SKPKB of Corporate Income
                     dan telah mengajukan surat keberatan atas                      Tax amounted to Rp716,963 to the Tax Office on
                     SKPKB PPh Badan yang tidak disetujui sebesar                   20 February 2020.
                     Rp716.963 ke Kantor Pajak pada tanggal
                     20 Februari 2020.

                     Pada tanggal 26 November 2019, Bank juga                       On 26 November 2019, the Bank also received
                     menerima SKPKB atas PPh Pasal 21, PPh Pasal                    Underpayment Tax Assessment Letter (SKPKB)
                     23 dan PPh Pasal 4 ayat (2) sebesar Rp28.255                   for income tax article 21, 23 and 4(2) amounted to
                     (termasuk denda) dan Pajak Pertambahan Nilai                   Rp28,255 (including penalties) and Value Added
                     (PPN) berikut Surat Tagihan Pajak (STP)                        Tax (VAT) and Surat Tagihan Pajak (STP)
                     sebesar Rp247.544 (termasuk denda) untuk                       amounted to Rp247,544 (including penalties) for
                     tahun fiskal 2015. Pada tanggal 5 Desember                     2015 fiscal year. On 5 December 2019, the Bank
                     2019, Bank telah melakukan pembayaran atas                     has paid the entire SKPKB. Bank will not file an
                     seluruh SKPKB tersebut. Bank tidak akan                        objection to SKPKB PPh Article 21, PPh Article
                     mengajukan keberatan atas SKPKB PPh Pasal                      23 and PPh Article 4 (2) amounted to Rp28,255
                     21, PPh Pasal 23 dan PPh Pasal 4 ayat (2)                      and has submitted an objection letter to the
                     sebesar Rp28.255 dan telah mengajukan surat                    SKPKB VAT amounted to to Rp247,544 to the Tax
                     keberatan atas SKPKB PPN sebesar Rp247.544                     Office on 20 February 2020.
                     ke Kantor Pajak pada tanggal 20 Februari 2020.

                     Jumlah pembayaran atas SKPKB yang tidak                        The total payment for the SKPKB that was not
                     disetujui diatas sebesar Rp964.507 dimana Bank                 approved above amounted to Rp964,507 where
                     telah mengajukan keberatan, dicatat sebagai                    the Bank has filed an objection, and recognised as
                     pajak dibayar dimuka pada tanggal 31 Desember                  prepaid tax on 31 December 2021 and 2020.
                     2021 dan 2020.

                     Pada tanggal 26 Januari 2021, Bank telah                       On 26 January 2021, the Bank has received the
                     menerima hasil putusan keberatan PPh Badan                     decision on the objection to Corporate Income Tax
                     untuk tahun fiskal 2015, yang mengurangi jumlah                for the 2015 fiscal year, which reduces the amount
                     pajak dalam surat keberatan dari Rp716.963                     of tax in the objection letter from Rp716,963 to
                     menjadi Rp544.853. Bank juga telah menerima                    Rp544,853. The Bank also received the decision
                     hasil putusan keberatan PPN untuk tahun fiskal                 on the VAT objection for the 2015 fiscal year,
                     2015, yang mengurangi jumlah pajak dalam                       which reduced the amount of tax in the objection
                     surat keberatan dari Rp247.544 menjadi                         letter from Rp247,544 to Rp221,199. The Bank
                     Rp221.199. Bank tidak setuju dengan hasil                      does not agree with the objection decision and has
                     putusan keberatan dan telah mengajukan                         submitted an appeal to the Tax Court on 16 April
                     banding ke Pengadilan Pajak pada tanggal                       2021.
                     16 April 2021.




1334 PT Bank Mandiri (Persero) Tbk                                            267
Page 828
     CORPORATE                 ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                     Financial
     GOVERNANCE                & PRACTICES                 RESPONSIBILITY                          KEUANGAN   2023
                                                                                                     Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)    (Expressed in millions of Rupiah, unless otherwise stated)


33. PERPAJAKAN (lanjutan)                                  33. TAXATION (continued)

    f.   Surat ketetapan pajak (lanjutan)                     f.   Tax assessment letter (continued)

         Tahun pajak 2015 (lanjutan)                               Fiscal year 2015 (continued)

         Pada tanggal 9 Juni 2023, Pengadilan Pajak                On 9 June 2023, the Tax Court read the verdict of
         telah membacakan putusan banding PPh Badan                the appeal for Corporate Income Tax (CIT) and
         dan PPN. Pengadilan Pajak mengabulkan                     Value Added Tax (VAT). The Tax Court fully
         seluruhnya permohonan banding PPh Badan,                  granted the CIT appeal, which reduced the amount
         yang mengurangi jumlah pajak dalam surat                  of tax in the appeal letter from Rp544,853 to RpNil.
         banding dari Rp544.853 menjadi RpNihil.                   The Tax Court also fully granted the VAT appeal,
         Pengadilan Pajak juga mengabulkan seluruhnya              which reduced the amount of tax in the appeal
         permohonan banding PPN, yang mengurangi                   letter from Rp221,199 to RpNil. On 15 September
         jumlah pajak dalam surat banding dari                     2023, the Tax Office submitted judicial review to
         Rp221.199 menjadi RpNihil. Pada tanggal                   the Supreme Court regarding the Tax Court
         15 September 2023, Kantor Pajak mengajukan                decision on Corporate Income Tax (CIT). In
         permohonan peninjauan kembali ke Mahkamah                 relation to the Judicial Review, the Bank has
         Agung atas Putusan Banding PPh Badan.                     submitted response in the form of Counter
         Sehubungan dengan adanya Permohonan                       Memorial of Judicial Review to the Supreme Court
         Peninjauan Kembali tersebut, Bank telah                   on 18 October 2023, stating that the Tax Court
         memberikan jawaban dalam bentuk Kontra                    decision is in accordance with the applicable laws
         Memori Peninjauan Kembali kepada Mahkamah                 and regulations. As of the authorisation date of
         Agung pada tanggal 18 Oktober 2023, yang                  these consolidated financial statements, the
         menyatakan bahwa putusan Pengadilan Pajak                 judicial review process at the Supreme Court is still
         telah sesuai dengan ketentuan peraturan                   ongoing.
         perundang-undangan yang berlaku. Sampai
         dengan tanggal otorisasi laporan keuangan
         konsolidasian ini, proses peninjauan kembali di
         Mahkamah Agung masih berlangsung.

         Tahun pajak 2016                                          Fiscal year 2016

         Berdasarkan hasil pemeriksaan pajak oleh                  Based on the result of the tax audit from Tax Office
         Kantor Pajak, pada tanggal 17 November 2020,              on 17 November 2020, the Bank has received an
         Bank telah menerima Surat Ketetapan Pajak                 Underpayment Tax Assessment (SKPKB) on
         Kurang Bayar (SKPKB) atas PPh Badan untuk                 Corporate Income tax for the 2016 fiscal year
         tahun fiskal 2016 sebesar Rp1.293.817                     amounted to Rp1,293,817 (including penalties),
         (termasuk denda) dimana yang disetujui oleh               which was accepted by the Bank for only
         Bank hanya sebesar Rp175.592 dan dicatat                  Rp175,592 and recorded as current tax expense -
         sebagai beban pajak kini - tahun sebelumnya di            prior year in the 2020 consolidated statement of
         laporan laba rugi konsolidasi tahun 2020. Pada            profit or loss. On 27 November 2020, Bank has
         tanggal 27 November 2020, Bank telah                      paid all SKPKB Corporate Income Tax and has
         melakukan pembayaran atas seluruh SKPKB                   submitted an objection letter for the SKPKB
         PPh Badan sebesar Rp1.118.225 ke Kantor                   amounted to Rp1,118,225 to the Tax Office.
         Pajak.

         Pada tanggal 17 November 2020, Bank juga                  On 17 November 2020, the Bank also received
         menerima SKPKB atas PPh Pasal 21 sebesar                  SKPKB on Income Tax Article 21 amounted to
         Rp31.492 dan Pajak Pertambahan Nilai (PPN)                Rp31,492 and Value Added Tax (VAT) also the tax
         berikut Surat Tagihan Pajak (STP) sebesar                 collection letter (STP) amounted to Rp128,766
         Rp128.766 (termasuk denda) untuk tahun fiskal             (including penalties) for the 2016 fiscal year. On 27
         2016. Pada tanggal 27 November 2020, Bank                 November 2020, Bank has paid all the SKPKB,
         telah melakukan pembayaran atas seluruh                   and will not submit an objection to SKPKB Article
         SKPKB tersebut. Bank tidak akan mengajukan                21 amounted to Rp31,492 and SKPKB VAT
         keberatan atas SKPKB PPh Pasal 21 sebesar                 amounted to Rp128,766. All underpayments are
         Rp31.492 dan SKPKB PPN sebesar Rp128.766.                 charged to the 2020 consolidated statement of
         Seluruh kurang bayar tersebut dibebankan ke               profit or loss.
         laporan laba rugi konsolidasian tahun 2020.

         Jumlah pembayaran atas SKPKB yang tidak                   The total payment for the SKPKB that was not
         disetujui di atas sebesar Rp1.118.225 dimana              approved above amounted to Rp1,118,225 where
         Bank mengajukan keberatan, dicatat sebagai                the Bank filed an objection, was recorded as
         pajak     dibayar   dimuka     pada   tanggal             prepaid tax on 31 December 2021. The Bank has
         31 Desember 2021. Bank telah mengajukan surat             submitted an objection letter to the SKPKB for
         keberatan atas SKPKB PPh Badan yang tidak                 Corporate Income Tax which was not approved
         disetujui sebesar Rp1.118.225 ke Kantor Pajak             amounted to Rp1,118,225 to Tax Office on
         pada tanggal 10 Februari 2021.                            10 February 2021.




                                                             268                                     ANNUAL REPORT 2023    1335
Page 829
            MAIN                       MANAGEMENT                         COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                           ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            33. PERPAJAKAN (lanjutan)                                       33. TAXATION (continued)
                f.   Surat ketetapan pajak (lanjutan)                             f.   Tax assessment letter (continued)
                     Tahun pajak 2016 (lanjutan)                                       Fiscal year 2016 (continued)
                     Pada tanggal 7 Februari 2022, Bank telah                          On 7 February 2022, the Bank received the
                     menerima hasil putusan keberatan PPh Badan,                       decision on objection to Corporate Income Tax
                     yang mengurangi jumlah pajak dalam surat                          which reduced the amount of tax in the objection
                     keberatan dari Rp1.118.225 menjadi Rp213.760.                     letter from Rp1,118,225 to Rp213,760. On
                     Pada tanggal 21 Maret 2022, Bank telah                            21 March 2022, the Bank received a tax refund for
                     menerima pengembalian pajak atas hasil putusan                    the objection to Corporate Income Tax in the
                     keberatan PPh Badan tersebut sebesar                              amount of Rp909,489 and recorded it as a
                     Rp909.489 dan dicatat sebagai pengurang                           deduction from prepaid tax payments. The Bank
                     pembayaran pajak dibayar dimuka. Bank tidak                       did not agree with the results of the objection
                     setuju dengan hasil putusan keberatan dan telah                   decision and has submitted an appeal to the Tax
                     mengajukan banding ke Pengadilan Pajak pada                       Court on 28 April 2022. As of the authorisation
                     tanggal 28 April 2022. Sampai dengan tanggal                      date of these consolidated financial statements,
                     otorisasi laporan keuangan konsolidasian ini,                     the appeal process at the Tax Court is still
                     proses banding di Pengadilan Pajak masih                          ongoing.
                     berlangsung.

            34. LIABILITAS IMBALAN KERJA                                    34. EMPLOYEE BENEFIT LIABILITIES
                                                                 2023                     2022

                 Penyisihan biaya uang penghargaan                                                          Provision for post-employment
                    pegawai (Catatan 51)                           3.553.213              3.251.241                       benefit (Note 51)
                                                                                                                   Provisions for bonuses,
                Cadangan atas bonus, insentif,                                                                       incentive, leave and
                   cuti dan THR                                    8.341.416              9.356.518           holiday (THR) entitlements
                 Total                                           11.894.629              12.607.759                                       Total

                Penyisihan biaya uang penghargaan pegawai meliputi                 Provision for post-employment benefit such as pension
                uang pensiun dan remunerasi jangka panjang lainnya                 fund and other long term remuneration are in
                sesuai dengan kebijakan Bank dan Entitas Anak yang                 accordance with the Bank and Subsidiaries’ policy
                dihitung dengan perhitungan aktuaris.                              which are calculated using actuarial calculation.

            35. LIABILITAS LAIN-LAIN                                        35. OTHER LIABILITIES
                                                                 2023                     2022
                 Rupiah                                                                                                                   Rupiah
                    Liabilitas terkait dengan                                                               Liabilities related to ATM and
                         transaksi ATM dan kartu kredit            7.005.683              2.800.422             credit card transactions
                    Liabilitas kepada pemegang polis               6.826.438              6.003.177             Liabilities to policyholders
                    Liabilitas kepada pihak ketiga                 2.316.954              2.390.734                Liabilities to third parties
                    Utang transaksi nasabah                        1.763.561              1.236.438      Customers transaction payables
                    Liabilitas dana pensiun dan                                                                             Pension fund and
                         JHT pensiun                               1.190.519              1.014.286                pension plan liabilities
                    Liabilitas kepada dealer                       1.035.958                460.916                       Liabilities to dealer
                    Pendapatan diterima dimuka                                                                               Deferred income
                         yang teratribusi                          1.023.992                885.978                  (directly attributable)
                    Liabilitas sewa                                  827.903                841.129                           Lease liabilities
                    Setoran jaminan                                  782.525                677.241                      Guarantee deposits
                    Liabilitas terkait dengan unit-link              721.960                324.717           Liabilities related to unit-link
                    Liabilitas transaksi asuransi                    691.011                626.020       Insurance transaction liabilities
                    Pendapatan diterima dimuka                                                                               Deferred income
                         yang tidak teratribusi                        594.381              590.345            (not directly attributable)
                    Liabilitas terkait dengan transaksi                                                    Liabilities related to customers
                         transfer nasabah                              352.988              642.371                 transfer transactions
                    Liabilitas zakat                                   196.774              145.153                           Zakat liabilities
                    Liabilitas terkait dengan transaksi                                                      Liabilities related to treasury
                         treasuri                                       72.313                12.065                           transactions
                    Liabilitas terkait dengan transaksi                                                          Liabilities related to trade
                         trade finance                                  10.858                 3.019                 finance transactions
                    Liabilitas spot                                      5.137                23.279                             Spot liabilities
                    Penyisihan atas estimasi kerugian                                                       Provision for losses that arise
                         yang timbul dari kasus hukum                    2.989                   2.928                    from legal cases
                    Pembelian efek-efek yang masih                                                             Payables from purchase of
                         harus dibayar                                     -                121.394                 marketable securities
                    Lain-lain                                      2.894.402              2.671.696                                     Others
                 Total                                           28.316.346              21.473.308                                        Total


1336 PT Bank Mandiri (Persero) Tbk                                               269
Page 830
     CORPORATE                  ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                               Financial
     GOVERNANCE                 & PRACTICES                      RESPONSIBILITY                              KEUANGAN   2023
                                                                                                               Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


35. LIABILITAS LAIN-LAIN (lanjutan)                             35. OTHER LIABILITIES (continued)
                                                      2023                    2022

    Mata uang asing                                                                                         Foreign currencies
        Term Deposits Valas                                                                          Foreign Exchange Term
            Devisa hasil Ekspor                         3.718.375                      -   Deposits from Export Activities
       Liabilitas terkait dengan transaksi                                                                  Customers transfer
            transfer nasabah                                                                                      transactions
            (Catatan 62.B.(iv))                         2.596.090              2.581.170                       (Note 62.B.(iv))
       Liabilitas terkait dengan transaksi                                                          Liabilities related to trade
            trade finance                               1.000.360                690.186                finance transactions
       Setoran jaminan (Catatan 62.B.(iv))                587.877                288.296 Guarantee deposits (Note 62.B.(iv))
       Pendapatan diterima dimuka                                                                               Deferred income
            yang tidak teratribusi                         539.309               480.301          (not directly attributable)
       Liabilitas sewa (Catatan 62.B.(iv))                 167.065                26.905    Lease liabilities (Note 62.B.(iv))
       Liabilitas kepada pihak ketiga                       89.225               160.335             Liabilities to third parties
       Liabilitas transaksi asuransi                        19.039                15.183     Insurance transaction liabilities
       Liabilitas terkait dengan unit-link                   4.945                 8.528        Liabilities related to unit-link
       Liabilitas spot                                         316                   122                           Spot liabilities
       Liabilitas terkait dengan                                                               Liabilities related to ATM and
            transaksi ATM dan kartu kredit                                                         credit card transactions
            (Catatan 62.B.(iv))                                 2                      -                      (Note 62.B.(iv))
       Liabilitas terkait dengan transaksi                                                                  Liabilities related to
            treasuri                                             -             1.003.189              treasury transactions
       Lain-lain                                           360.264               609.230                                   Others

    Total                                               9.082.867              5.863.445                                     Total

                                                      37.399.213             27.336.753

    Liabilitas kepada pemegang polis terdiri dari liabilitas           Liabilities to policyholders consist of liabilities of the
    Entitas Anak (PT AXA Mandiri Financial Services dan                Subsidiaries (PT AXA Mandiri Financial Services and
    PT Asuransi Jiwa Inhealth Indonesia) sebagai berikut:              PT Asuransi Jiwa Inhealth Indonesia) as follows:
                                                      2023                    2022
    Manfaat polis masa depan dari                                                                     Future policy benefits from
        produk non unit-link                            5.545.895              4.627.860                 non unit-link products
    Premi yang belum merupakan
        pendapatan                                         569.282               508.597                   Unearned premiums
    Estimasi liabilitas klaim                              423.837               543.326               Estimated claim liabilities
    Utang klaim                                            287.424               323.394                        Claim payables

    Total                                               6.826.438              6.003.177                                     Total

    Liabilitas manfaat polis masa depan adalah jumlah                  Liability for future policy benefits is the amount of funds
    dana yang harus disediakan oleh penanggung untuk                   that must be provided by the insurer to pay benefits and
    membayar manfaat dan klaim di masa yang akan                       claims in the future to the party as stated in the policy.
    datang kepada pihak sebagaimana dinyatakan dalam                   Changes in liability for future policy benefits are
    polis. Perubahan liabilitas manfaat polis masa depan               recognised in profit or loss for the year. Liability for
    diakui dalam laba rugi tahun berjalan. Liabilitas                  future policy benefits has been calculated using the
    manfaat polis masa depan telah dihitung                            Gross Premium Reserve method and the daily method.
    menggunakan metode Gross Premium Reserve                           The assumptions used to calculate future liability
    maupun metode harian. Asumsi-asumsi yang dipakai                   reserves for policyholders with Gross Premium
    untuk menghitung cadangan liabilitas masa depan                    Reserves are based on the best estimate assumptions
    pemegang polis dengan Gross Premium Reserve                        for 2023 which include assumptions on mortality,
    adalah berdasarkan asumsi estimasi terbaik tahun                   morbidity, lapses expenses, inflation rates and interest
    2023 yang meliputi asumsi tingkat mortalita,                       rates.
    morbidita, tingkat pembatalan polis, biaya, tingkat
    inflasi, dan tingkat suku bunga.

    Premi yang belum merupakan pendapatan adalah                       Unearned premiums are the portion of premiums that
    bagian dari premi yang belum diakui sebagai                        have not been recognised as income because the
    pendapatan karena masa pertanggungannya masih                      coverage period is still running at the end of the year.
    berjalan pada akhir tahun. Cadangan atas premi yang                Reserves for unearned premiums are calculated using
    belum merupakan pendapatan dihitung dengan                         the daily amortisation method with consideration for the
    menggunakan metode amortisasi harian dengan                        policy coverage period as calculated by the actuary.
    mempertimbangkan masa pertanggungan polis yang
    dihitung oleh aktuaris.


                                                                     270                                      ANNUAL REPORT 2023      1337
Page 831
            MAIN                        MANAGEMENT                          COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                         ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            35. LIABILITAS LAIN-LAIN (lanjutan)                               35. OTHER LIABILITIES (continued)

                Estimasi liabilitas klaim adalah estimasi liabilitas atas        Estimated claim liability is estimated liability for
                klaim-klaim asuransi yang telah terjadi, yaitu klaim-            insurance claims that have occurred, which are claims
                klaim yang belum diajukan oleh provider, serta klaim-            that have not been submitted by the provider, as well
                klaim yang sudah diterima namun belum ditentukan                 as claims that have been received but the replacement
                nilai gantinya.                                                  value has not been determined.

                Utang klaim adalah utang atas klaim-klaim asuransi               Claims payable is an payable of insurance claims that
                yang telah diterima dan disetujui.                               have been received and approved.

                Liabilitas dana pensiun dan JHT pensiun merupakan                Pension fund and pension plan liablities are liabilities of
                Liabilitas Entitas Anak (PT Bank Mandiri Taspen)                 a subsidiary (PT Bank Mandiri Taspen) to retirees,
                kepada pensiunan, dimana Entitas Anak berperan                   where the Subsidiary acts as a distributor of pension
                sebagai penyalur dana pensiun dari nasabah Entitas               funds from the Subsidiary’s customers to the retirees of
                Anak kepada pensiunan nasabah.                                   those customers.

                Utang transaksi nasabah sebagian besar terdiri dari              Customer transaction payables mostly consist of
                utang yang timbul dari transaksi perdagangan efek                payables arising from securities trading transactions of
                Entitas Anak.                                                    Subsidiaries.

                Term Deposits Valas Devisa Hasil Ekspor merupakan                Term Deposits of Foreign Exchange from Export
                suatu instrumen dimana dana devisa hasil ekspor dari             Proceeds is an instrument where foreign exchange
                rekening khusus eksportir ditempatkan pada Bank                  from export proceeds from exporters’ special account
                Indonesia melalui rekening Bank sesuai mekanisme                 are placed in Bank Indonesia through Bank’s accounts
                pasar.                                                           in accordance with market mechanisms.

                Liabilitas terkait dengan transaksi ATM dan kartu                Liabilities related to ATM and credit card transactions
                kredit terdiri dari liabilitas atas transaksi ATM dalam          consist of liabilities from ATM transactions within ATM
                jaringan ATM Bersama, ATM Link dan ATM Prima                     Bersama, ATM Link and ATM Prima network and
                dan liabilitas kepada Visa dan Master Card dan JCB               liabilities to Visa and Master Card and JCB for credit
                untuk transaksi kartu kredit.                                    card transactions.

                Liabilitas terkait dengan unit-link merupakan liabilitas         Liabilities related to unit-link represents unit-link
                unit-link kepada pihak ketiga dan liabilitas pemegang            liabilities to third parties and liabilities to unit-link fund
                dana unit-link Entitas Anak (PT AXA Mandiri Financial            holders of Subsidiary (PT AXA Mandiri Financial
                Services).                                                       Services).

                Liabilitas terkait dengan transaksi transfer nasabah             Liabilities related to customers’ transfer transactions
                terdiri dari transaksi pengiriman uang yang masih                represent transfer funds in various currencies that need
                harus diselesaikan dalam berbagai mata uang dari                 to be settled from or to customers’ accounts.
                dan atau ke rekening nasabah.

                Setoran jaminan merupakan jaminan uang tunai yang                Guarantee deposit is a cash guarantee deposited by
                disetorkan oleh nasabah atas transaksi ekspor, impor             customers related to export, import transaction and
                dan penerbitan bank garansi.                                     issuance of bank guarantees.

                Liabilitas kepada dealer merupakan liabilitas Entitas            Liabilities to dealers are liabilities of the Subsidiaries
                Anak (PT Mandiri Tunas Finance dan PT Mandiri                    (PT Mandiri Tunas Finance and PT Mandiri Utama
                Utama Finance) kepada dealer kendaraan bermotor                  Finance) to motor vehicle dealers related to financing
                terkait pembiayaan yang diberikan Entitas Anak                   provided by the Subsidiaries to customers.
                kepada nasabah.

                Pendapatan diterima dimuka yang teratribusi secara               Directly attributable deferred income consists of income
                langsung terdiri dari pendapatan provisi/komisi kredit           from provisions/commissions of loans and sharia
                dan piutang/pembiyaan syariah yang terkait langsung              receivables/financing which directly attributable to
                dengan pemberian kredit dan piutang/pembiyaan                    unamortised loans and sharia receivables/financing
                syariah yang belum diamortisasi.                                 granted.

                Pembelian efek-efek yang masih harus dibayar                     Payable from purchase of marketable securities
                merupakan utang yang timbul dari transaksi                       represent securities purchase transactions which have
                pembelian surat berharga yang seluruhnya telah                   been fully paid on 2 January 2024 and 3 January 2023
                dibayarkan masing-masing pada tanggal 2 Januari                  for 31 December 2023 and 2022, respectively.
                2024 dan 3 Januari 2023 untuk tanggal 31 Desember
                2023 dan 2022.



1338 PT Bank Mandiri (Persero) Tbk                                              271
Page 832
     CORPORATE                 ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                   Financial
     GOVERNANCE                & PRACTICES                               RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                   Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


35. LIABILITAS LAIN-LAIN (lanjutan)                                     35. OTHER LIABILITIES (continued)

    Pendapatan diterima dimuka yang tidak teratribusi                         Non directly attributable deferred income consists of
    secara langsung terdiri dari pendapatan provisi/komisi                    provisions/commissions      of   loans      and      sharia
    kredit dan piutang/pembiyaan syariah yang tidak                           receivables/financing that are not directly attributable to
    terkait langsung dengan pemberian kredit dan                              the unamortised loans and sharia receivables/financing
    piutang/pembiyaan syariah yang belum diamortisasi.                        granted.

    Pengungkapan liabilitas sewa            pada       tanggal                The disclosure of lease liabilities as of 31 December
    31 Desember 2023 sebagai berikut:                                         2023 are as follows:
                                                                              2023

                                                                         Beban bunga
                                                                         atas liabilitas     Liabilitas sewa
                                                    Penambahan               sewa/             yang telah
                                     Saldo             sewa/           Interest expense        dibayarkan/            Saldo
                                   1 Januari/        Additions of           on lease          Payments of         31 Desember/
                                  January 2023     lease liabilities       liabilities       lease liabilities   December 2023

    Kategori aset pendasar                                                                                                               Underlying assets
    Kendaraan bermotor                  386.924              245.240              25.553             (281.229)          376.488                      Vehicles
    Bangunan - rumah dinas                7.671              122.701                 454             (117.726)           13.100   Building - office residence
    Bangunan - gedung kantor            447.110            1.379.002              41.517           (1.276.061)          591.568     Building - office building
    Perlengkapan, peralatan                                                                                                      Furniture and fixture, office
       kantor dan komputer               26.329                3.047                 1.589            (17.153)           13.812 equipment and computer

    Total                               868.034            1.749.990              69.113           (1.692.169)          994.968                         Total


                                                                              2022

                                                                         Beban bunga
                                                                         atas liabilitas     Liabilitas sewa
                                                    Penambahan               sewa/             yang telah
                                     Saldo             sewa/           Interest expense        dibayarkan/            Saldo
                                   1 Januari/        Additions of           on lease          Payments of         31 Desember/
                                  January 2022     lease liabilities       liabilities       lease liabilities   December 2022

    Kategori aset pendasar                                                                                                               Underlying assets
    Kendaraan bermotor                  434.809              226.273              25.054             (299.212)          386.924                      Vehicles
    Bangunan - rumah dinas                9.400                8.549                 215              (10.493)            7.671   Building - office residence
    Bangunan - gedung kantor            584.469               61.025              36.834             (235.218)          447.110     Building - office building
    Perlengkapan, peralatan                                                                                                      Furniture and fixture, office
       kantor dan komputer               17.601               12.775                 1.922             (5.969)           26.329 equipment and computer

    Total                             1.046.279              308.622              64.025             (550.892)          868.034                         Total



    Liabilitas lain-lain terkait sewa berdasarkan jangka                      Other liabilities related to leases by period:
    waktu
                                                           2023                          2022

     Jangka pendek                                           211.261                          83.729                                         Short term
     Jangka panjang                                          783.707                         784.305                                         Long term

     Total                                                   994.968                         868.034                                                Total


    Analisis jatuh tempo liabilitas lain-lain terkait sewa                     Analysis of the maturities of other liabilities related to
    sebagai berikut:                                                           leases as follows:

                                                           2023                          2022

     1 tahun                                                211.261                           83.729                                              1 year
     2 tahun                                                377.366                          301.806                                             2 years
     3 tahun                                                228.027                          258.503                                             3 years
     4 tahun                                                 55.632                           32.738                                             4 years
     5 tahun                                                122.682                          191.258                                             5 years

     Total                                                  994.968                          868.034                                                Total

    Lain-lain terutama terdiri dari rekening antar kantor                     Others mainly consist of interoffice accounts and
    dan liabilitas terkait transaksi perdagangan, titipan                     liabilities related to trade transactions, deposits and
    dan transaksi yang masih harus diselesaikan.                              transaction remains to be settled.




                                                                           272                                                    ANNUAL REPORT 2023             1339
Page 833
            MAIN                       MANAGEMENT                        COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA                                     36. FUND BORROWINGS

                                                                 2023                  2022
                 Rupiah                                                                                                         Rupiah
                   Pihak berelasi                                                                                     Related parties
                      (f) Lain-lain (Catatan 56)                  1.765.624            2.210.704                Others (Note 56) (f)
                   Pihak ketiga                                                                                          Third parties
                      (a) Kementerian Pekerjaan
                           Umum dan Perumahan Rakyat                                                 Ministry of Public Work and (a)
                           (Kemenpupera)                          1.447.824            1.138.633         Housing (Kemenpupera)
                      (e) Bank Indonesia                         11.900.055                    -                  Bank Indonesia (e)
                      (f) Lain-lain                              23.832.807           18.270.535                          Others (f)

                                                                 37.180.686           19.409.168

                 Total                                           38.946.310           21.619.872                                   Total

                 Mata uang asing                                                                                     Foreign currencies
                   Pihak ketiga                                                                                          Third parties
                      (b) Direct off-shore loans                 21.430.599           15.919.032          Direct off-shore loans (b)
                      (c) Fasilitas pendanaan perdagangan        33.254.567           21.130.920        Trade financing facilities (c)
                      (d) Repo to maturity                        1.017.003            2.969.542                Repo to maturity (d)
                      (f) Lain-lain                                 796.980            1.200.752                          Others (f)

                 Total (Catatan 62.B.(iv))                       56.499.149           41.220.246                   Total (Note 62.B.(iv))

                                                                 95.445.459           62.840.118


                (a) Kementerian Pekerjaan Umum dan Perumahan                    (a) Ministry of   Public       Work     and    Housing
                    Rakyat (Kemenpupera)                                            (Kemenpupera)

                     Akun ini merupakan dukungan pemerintah                         This account represents Government support to
                     kepada masyarakat berpenghasilan rendah untuk                  low-income communities for housing financing
                     pembiayaan perumahan dalam program Fasilitas                   Liquidity Facility of Housing Financing (Fasilitas
                     Likuiditas Pembiayaan Perumahan (“FLPP”)                       Likuiditas Pembiayaan Perumahan) (“FLPP”)
                     dengan sharing pembiayaan sesuai kesepakatan,                  program, with financing sharing according to the
                     saat ini sharing pembiayaan yang berlaku adalah                agreement currently the applicable financing
                     75,00% dana Pemerintah dan 25,00% dana                         sharing of 75.00% funds from Government’s fund
                     Bank. PT Bank Mandiri (Persero) Tbk ikut serta                 and     25.00%     funds     from   Bank’s    fund.
                     sebagai Bank Pelaksana Penyaluran FLPP sejak                   PT Bank Mandiri (Persero) Tbk. has been
                     tahun 2012, tertuang dalam Kesepakatan                         participating as the implementing Bank for FLPP
                     Bersama antara Kementerian Pekerjaan Umum                      distribution since 2012, as stipulated in the joint
                     dan Perumahan Rakyat No. 13/SKB/DP/2011                        aggrement between Ministry of Public Work and
                     dengan      PT Bank Mandiri (Persero) Tbk.                     Housing No. 13/SKB/DP/2011 with PT Bank
                     No. DIR.MOU/015/2011 tentang Penyaluran                        Mandiri (Persero) Tbk. No. DIR.MOU/015/2011
                     Dana FLPP dalam rangka                 pengadaan               regarding the distribution of FLPP fund for housing
                     perumahan melalui Kredit/Pembiayaan Pemilikan                  acquisition through Home Ownership Financing,
                     Rumah       Sejahtera,    diperbaharui    dengan               which renewed by Joint Agreement between the
                     Kesepakatan Bersama antara Kementerian                         Ministry    of    Public    Work    and    Housing
                     Perumahan Rakyat No. 07/SKB/M/2012 dengan                      No. 07/SKB/M/2012 with PT Bank Mandiri
                     PT       Bank      Mandiri     (Persero)     Tbk.              (Persero) Tbk. No. DIR.MOU/003/2012 dated
                     No. DIR.MOU/003/2012 tanggal 15 Februari                       15 February 2012 regarding Amendments of Joint
                     2012 tentang Perubahan Kesepakatan Bersama,                    Agreement, then the joint agreement Amendment
                     diperbaharui kembali Kesepakatan Bersama                       amended between Ministry of Public Work and
                     antara Kementerian Pekerjaan Umum dan                          Housing No. 29/MoU/Dp/2020 with PT Bank
                     Perumahan Rakyat No. 29/MoU/Dp/2020 dengan                     Mandiri (Persero) Tbk. No. DIR.MOU/19/2020
                     PT       Bank      Mandiri     (Persero)     Tbk.              dated 17 December 2020 regarding Distribution of
                     No. DIR.MOU/19/2020 tanggal 17 Desember                        Subsidized Home Ownership Credit for Low-
                     2020 tentang Penyaluran Kredit Pemilikan                       Income Communities ("MBR").
                     Rumah        Bersubsidi      Bagi     Masyarakat
                     Berpenghasilan Rendah (“MBR”).



1340 PT Bank Mandiri (Persero) Tbk                                            273
Page 834
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                         36. FUND BORROWINGS (continued)

    (a) Kementerian Pekerjaan Umum dan Perumahan                     (a) Ministry of    Public   Work         and     Housing
        Rakyat (Kemenpupera) (lanjutan)                                  (Kemenpupera) (continued)
         Pada Tahun 2021 terdapat Pengalihan                             In 2021, there was a transfer of management
         pengelolaan Dana FLPP yang sebelumnya                           of FLPP Funds which were previously managed
         dikelola oleh Badan Layanan Umum Pusat                          by Badan Layanan Umum Pusat Pengelolaan
         Pengelolaan Dana Pembiayaan Perumahan                           Dana     Pembiayaan     Perumahan   ("PPDPP")
         (“PPDPP”) dialihkan ke Badan Pengelola                          transferred to Badan Pengelola Tabungan
         Tabungan Perumahan Rakyat (“BPTapera”)                          Perumahan Rakyat (“BPTapera”) in accordance
         sesuai dengan Perjanjian Tripartit antara PPDPP,                with the Tripartite Agreement between PPDPP,
         BPTapera dan PT Bank Mandiri (Persero) Tbk                      BPTapera and PT Bank Mandiri (Persero) Tbk
         No.     06/PRJ/Pg/2021,      No.      10/PKS/BP-                No.      06/PRJ/Pg/2021,    No.    10/PKS/BP-
         TPR/I/12/2021 dan DIR.PKS/40/2021 Tanggal                       TPR/I/12/2021 and DIR.PKS/40/2021 dated
         24 Desember 2021.                                               24 December 2021.
         Dalam     pelaksanaan    program,     dilakukan                 In implementing the program, a cooperation
         penandatanganan perjanjian kerjasama yang                       agreement was signed which is renewed every
         diperbaharui setiap tahun selama PT Bank                        year as long as PT Bank Mandiri (Persero) Tbk
         Mandiri (Persero) Tbk ikut serta menjadi Bank                   participated as the Implementing Bank, with the
         Pelaksana, dengan awal perjanjian kerjasama                     initial cooperation agreement is the Operational
         yaitu Perjanjian Kerjasama Operasional antara                   Cooperation Agreement between Badan Layanan
         Badan Layanan Umum Pusat Pembiayaan                             Umum        Pusat     Pembiayaan     Perumahan
         Perumahan Kementerian Perumahan Rakyat                          Kementerian Perumahan Rakyat of Public Housing
         Republik Indonesia pada tahun 2012 tentang                      of the Republic of Indonesia in 2012 regarding
         Penyaluran Dana FLPP Dalam Rangka                               Distribution of FLPP Funds in the Context of
         Perolehan Rumah Melalui KPR Sejahtera Bagi                      Acquiring a House through Prosperous KPR for
         Masyarakat Berpenghasilan Rendah (“MBR”),                       Low-Income       Communities    ("MBR"),   which
         yang telah diperbaharui dengan perjanjian                       has been updated with the latest agreement,
         yang terbaru     yaitu  Perjanjian  Kerjasama                   namely        the     Cooperation     Agreement
         antara    BPTapera dan PT Bank Mandiri                          between BPTapera and PT Bank Mandiri
         (Persero) Tbk No. 57/PKS/BP-TPR/I/12/2022 dan                   (Persero) Tbk No. 57/PKS/BP-TPR/I/12/2022 and
         DIR.PKS/55/2022 tentang Penyaluran Dana                         DIR.PKS/55/2022 concerning Distribution of FLPP
         FLPP melalui Kredit/Pembiayaan Pemilikan                        Funds through Credit/Financing for Prosperous
         Rumah      Sejahtera/Rumah    Sejahtera    Bagi                 Home Ownership/Prosperous Homes for Low-
         Masyarakat Berpenghasilan Rendah tanggal                        Income Communities dated 28 December 2022.
         28 Desember 2022.
         Baki debet pada tanggal 31 Desember 2023 dan                    Outstanding balance as of 31 December 2023 and
         2022      adalah      masing-masing      sebesar                2022 were Rp1,447,824 and Rp1,138,633,
         Rp1.447.824 dan Rp1.138.633. Fasilitas ini                      respectively. These facilities are subject to a
         dikenakan tarif tertentu dari Pemerintah. Jangka                certain rate from the Government. The period of
         waktu kredit dan jadwal pelunasannya maksimal                   loan and repayment schedule are maximum of 240
         240 bulan (20 tahun) Pengembalian dana                          months (20 years). Repayment (principal and
         (angsuran pokok dan bunga) kepada BPTapera                      interest instalment) to BPTapera are carried out no
         dilaksanakan paling lambat tanggal 10 setiap                    later than 10th of each month.
         bulannya.

    (b) Direct off-shore loans                                       (b) Direct off-shore loans
         Rincian pinjaman direct off-shore loans adalah                  The details of direct off-shore loans are as follows:
         sebagai berikut:
                                                     2023                   2022

          Mata uang asing                                                                                 Foreign currencies
            Pihak ketiga                                                                                      Third parties
                MUFG Bank                              8.421.577            3.113.500                       MUFG Bank
                United Overseas Bank                   5.045.612            6.227.000             United Overseas Bank
                China Development Bank,                                                        China Development Bank
                   - Tranche A                         2.872.910            4.353.644                      Tranche A -
                   - Tranche B                         1.195.059            1.813.804                      Tranche B -
                Oversea Chinese Banking                2.309.550                    -          Oversea Chinese Banking
                Taishin International Bank               769.850                     -         Taishin International Bank
                Bank of Taiwan                           692.865                    -                     Bank of Taiwan
                Bank of China                            123.176                    -                      Bank of China
                Taipei Fubon Commercial                        -              388.987           Taipei Fubon Commercial
                Agence Française de                                                                 Agence Française de
                    Développement                              -                22.097                 Développement
                                                     21.430.599            15.919.032




                                                                   274                                     ANNUAL REPORT 2023    1341
Page 835
            MAIN                              MANAGEMENT                                    COMPANY                                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                       PROFILE                                        ANALYSIS


                                                               PT BANK MANDIRI (PERSERO) Tbk.
                                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                                               36. FUND BORROWINGS (continued)

                (b) Direct off-shore loans (lanjutan)                                                 (b) Direct off-shore loans (continued)

                     MUFG Bank, Ltd., Singapura                                                               MUFG Bank, Ltd., Singapore

                                                                                                  2023

                                                                                                    Tingkat                         Nilai nominal/Nominal amount
                                                                                                      suku
                                                                                     Jangka          bunga                          Valuta asing
                                                               Tanggal jatuh          waktu        per tahun/                       (nilai penuh)/       Setara
                                             Pemberi             Tempo/              (bulan)/       Interest                           Foreign          Rupiah/
                                            Pinjaman/            Maturity             Tenor           rate             Mata uang/     currency          Rupiah
                           Jenis             Lender                date             (months)       per annum           Currency     (full amount)      equivalent         Type


                                                                                                  SOFR (3 bulan)
                                                                                                 + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,             15 Juni/                SOFR (3 months)                                                        Direct off-shore
                      loans              Singapura/Singapore          June 2026            36     + certain margin           USD        200.000.000        3.079.400             loans
                                                                                                  SOFR (3 bulan)
                                                                                                 + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,             15 Juni/                SOFR (3 months)                                                        Direct off-shore
                      loans              Singapura/Singapore          June 2026            36     + certain margin           USD        155.000.000        2.386.535              loans
                                                                                                  SOFR (3 bulan)
                                                                                                 + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,       17 Desember/                  SOFR (3 months)                                                        Direct off-shore
                      loans              Singapura/Singapore     December 2024             36     + certain margin           USD        100.000.000        1.539.700              loans
                                                                                                  SOFR (3 bulan)
                                                                                                 + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,             15 Juni/                SOFR (3 months)                                                        Direct off-shore
                      loans              Singapura/Singapore          June 2026            36
                                                                                           loans + certain margin            USD         92.000.000        1.416.524              loans

                     Dikurangi:                                                                                                                                                  Less:
                     Biaya teratribusi                                                                                                                                   Unamortised
                       yang belum                                                                                                                                         attributable
                       diamortisasi                                                                                                         (37.819)           (582)             costs


                                                                                                                                        546.962.181        8.421.577




                                                                                                  2022

                                                                                                     Tingkat                         Nilai nominal/Nominal amount
                                                                                                       suku
                                                                                     Jangka           bunga                         Valuta asing
                                                               Tanggal jatuh          waktu         per tahun/                      (nilai penuh)/       Setara
                                             Pemberi             Tempo/              (bulan)/        Interest                          Foreign          Rupiah/
                                            Pinjaman/            Maturity             Tenor            rate            Mata uang/     currency          Rupiah
                            Jenis            Lender                date             (months)        per annum          Currency     (full amount)      equivalent         Type


                                                                                                   SOFR (3 bulan)
                                                                                                  + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,              28 Juli/                 SOFR (3 months)                                                      Direct off-shore
                      loans              Singapura/Singapore           July 2023            7      + certain margin          USD       100.000.000         1.556.750              loans
                                                                                                   SOFR (3 bulan)
                                                                                                  + marjin tertentu/
                     Direct off-shore       MUFG Bank Ltd.,       17 Desember/                    SOFR (3 months)                                                      Direct off-shore
                      loans              Singapura/Singapore     December 2024             12      + certain margin          USD       100.000.000         1.556.750              loans


                                                                                                                                       200.000.000         3.113.500




                    Bank Mandiri memperoleh beberapa fasilitas                                                Bank Mandiri obtained several unsecured loan
                    pinjaman tanpa agunan dari MUFG Bank, Ltd.,                                               facilities from MUFG Bank, Ltd., Singapore with
                    Singapura dengan nominal yang beragam dan                                                 various nominal amounts and SOFR interest
                    tingkat bunga SOFR 3 (tiga) bulan ditambah                                                rates of 3 (three) months plus a certain margin.
                    marjin tertentu. Fasilitas pinjaman tersebut terdiri                                      The loan facility consists of loans with a tenor of
                    atas pinjaman dengan tenor kurang dari 1 (satu)                                           less than 1 (one) year which will mature on
                    tahun yang akan jatuh tempo pada tanggal                                                  17 December 2024 and several loans with a
                    17 Desember 2024 dan beberapa pinjaman                                                    maturity of more than 1 (one) year which will
                    memiliki jatuh tempo lebih dari 1 (satu) tahun                                            mature 15 June 2026.
                    yang akan jatuh tempo pada 15 Juni 2026.




1342 PT Bank Mandiri (Persero) Tbk                                                                 275
Page 836
     CORPORATE                         ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                              Financial
     GOVERNANCE                        & PRACTICES                                  RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                              Statements 2023


                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                                               36. FUND BORROWINGS (continued)

    (b) Direct off-shore loans (lanjutan)                                               (b) Direct off-shore loans (continued)

         United Overseas Bank                                                                   United Overseas Bank

                                                                                     2023

                                                                                       Tingkat                         Nilai nominal/Nominal amount
                                                                                         suku
                                                                         Jangka         bunga                         Valuta asing
                                                   Tanggal jatuh          waktu       per tahun/                      (nilai penuh)/       Setara
                                Pemberi              Tempo/              (bulan)/      Interest                          Foreign          Rupiah/
                               Pinjaman/             Maturity             Tenor          rate            Mata uang/     currency          Rupiah
               Jenis            Lender                 date             (months)      per annum          Currency     (full amount)      equivalent         Type


                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,                                    SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore      15 Mei/May 2024           11    + certain margin          USD       100.000.000         1.539.700           loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,             14 Juni/               SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore            June 2024           11    + certain margin          USD       100.000.000         1.539.700              loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,       24 Desember/                 SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore       December 2026            36    + certain margin          USD         99.700.993        1.535.096              loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,       24 Desember/                 SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore       December 2026            36    + certain margin          USD         28.000.000          431.116              loans




                                                                                                                         327.700.993         5.045.612



                                                                                     2022

                                                                                       Tingkat                         Nilai nominal/Nominal amount
                                                                                         suku
                                                                         Jangka         bunga                         Valuta asing
                                                   Tanggal jatuh          waktu       per tahun/                      (nilai penuh)/       Setara
                                Pemberi              Tempo/              (bulan)/      Interest                          Foreign          Rupiah/
                               Pinjaman/             Maturity             Tenor          rate            Mata uang/     currency          Rupiah
               Jenis            Lender                 date             (months)      per annum          Currency     (full amount)      equivalent         Type


                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,          17 Januari/               SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore         January 2023            1    + certain margin          USD       200.000.000         1.556.750              loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,          17 Januari/               SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore         January 2023            1    + certain margin          USD       100.000.000         1.556.750              loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,          18 Agustus/               SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore          August 2023            8    + certain margin          USD       100.000.000         1.556.750              loans
                                                                                     SOFR (3 bulan)
                                United Overseas                                     + marjin tertentu/
         Direct off-shore          Bank Limited,                                    SOFR (3 months)                                                      Direct off-shore
          loans             Singapura/Singapore    29 September 2023            9    + certain margin          USD       100.000.000         1.556.750              loans


                                                                                                                         500.000.000         6.227.000




         Bank Mandiri memperoleh fasilitas pinjaman                                             Bank Mandiri obtained loan facility without
         tanpa agunan dari United Overseas Bank                                                 collateral from United Overseas Bank Limited,
         Limited, Singapura dengan nominal beragam dan                                          Singapore with various nominal amounts with the
         tingkat bunga SOFR 3 (tiga) bulan ditambah                                             interest rate of SOFR 3 (three) months plus a
         marjin tertentu. Fasilitas pinjaman ini memiliki                                       certain margin. The loan facilities have a tenor less
         tenor kurang dari 1 (satu) tahun dan akan jatuh                                        than 1 (one) year and will mature on 15 May 2024
         tempo pada tanggal 15 Mei 2024 sampai                                                  to 24 December 2026.
         24 December 2026.




                                                                                      276                                                     ANNUAL REPORT 2023            1343
Page 837
            MAIN                             MANAGEMENT                                   COMPANY                                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                                      PROFILE                                       ANALYSIS


                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                           (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                                             36. FUND BORROWINGS (continued)
                (b) Direct off-shore loans (lanjutan)                                              (b) Direct off-shore loans (continued)

                     China Development Bank                                                                China Development Bank
                                                                                               2023

                                                                                                 Tingkat                          Nilai nominal/Nominal amount
                                                                                                   suku                          Valuta asing
                                                                                   Jangka         bunga
                                                              Tanggal jatuh         waktu       per tahun/                       (nilai penuh)/       Setara
                                            Pemberi             Tempo/             (bulan)/      Interest                           Foreign          Rupiah/
                                           Pinjaman/            Maturity            Tenor          rate             Mata uang/     currency          Rupiah
                            Jenis           Lender                date            (months)      per annum           Currency     (full amount)      equivalent        Type

                                                                                               SOFR (6 bulan)
                                                                                              + marjin tertentu/
                                         China Development                                    SOFR (6 months)
                     Tranche A             Bank, Cina/China   15 September 2025         120    + certain margin           USD       186.666.667         2.874.105       Tranche A
                     Dikurangi:                                                                                                                                               Less:
                     Biaya teratribusi                                                                                                                                Unamortised
                       yang belum                                                                                                                                    attributable
                       diamortisasi                                                                                                      (77.644)          (1.195)          costs

                                                                                                                                    186.589.023         2.872.910


                                                                                               SOFR (6 bulan)
                                                                                              + marjin tertentu/
                                         China Development                                    SOFR (6 months)
                     Tranche B             Bank, Cina/China   15 September 2025         120    + certain margin           USD         77.621.119        1.195.133       Tranche B
                     Dikurangi:                                                                                                                                               Less:
                     Biaya teratribusi                                                                                                                                Unamortised
                       yang belum                                                                                                                                    attributable
                       diamortisasi                                                                                                       (4.777)             (74)          costs


                                                                                                                                      77.616.342        1.195.059


                                                                                               2022

                                                                                                 Tingkat                          Nilai nominal/Nominal amount
                                                                                                   suku                          Valuta asing
                                                                                   Jangka         bunga
                                                              Tanggal jatuh         waktu       per tahun/                       (nilai penuh)/       Setara
                                            Pemberi             Tempo/             (bulan)/      Interest                           Foreign          Rupiah/
                                           Pinjaman/            Maturity            Tenor          rate             Mata uang/     currency          Rupiah
                            Jenis           Lender                date            (months)      per annum           Currency     (full amount)      equivalent        Type

                                                                                                LIBOR (6 bulan)
                                                                                               + marjin tertentu/
                                         China Development                                    LIBOR (6 months)
                     Tranche A             Bank, Cina/China   15 September 2025         120     + certain margin          USD       280.000.000         4.358.900       Tranche A
                     Dikurangi:                                                                                                                                               Less:
                     Biaya teratribusi                                                                                                                                Unamortised
                       yang belum                                                                                                                                    attributable
                       diamortisasi                                                                                                    (337.624)           (5.256)          costs

                                                                                                                                    279.662.376         4.353.644


                                                                                                LIBOR (6 bulan)
                                                                                               + marjin tertentu/
                                         China Development                                    LIBOR (6 months)
                     Tranche B             Bank, Cina/China   15 September 2025         120     + certain margin          USD       116.523.149         1.813.974       Tranche B
                     Dikurangi:                                                                                                                                               Less:
                     Biaya teratribusi                                                                                                                                Unamortised
                       yang belum                                                                                                                                    attributable
                       diamortisasi                                                                                                      (10.933)           (170)           costs


                                                                                                                                    116.512.216         1.813.804



                     Pada tanggal 16 September 2015, Bank Mandiri                                          On 16 September 2015, Bank Mandiri signed a
                     menandatangani perjanjian fasilitas pinjaman                                          long-term loan facility without collateral agreement
                     jangka panjang tanpa agunan dengan China                                              with China Development Bank (CDB).
                     Development Bank (CDB).
                     Pinjaman tersebut terbagi dalam 2 (dua) fasilitas,                                    The loan consists of 2 (two) facilities, which
                     yaitu Tranche A berupa pinjaman langsung dari                                         Tranche A Facility is a direct loan from CDB
                     CDB dalam valuta USD dengan total fasilitas                                           denominated in USD with a total facility of
                     sebesar USD700.000.000 (nilai penuh) yang                                             USD700,000,000 (full amount) which will mature in
                     jatuh tempo 10 (sepuluh) tahun setelah tanggal                                        10 (ten) years since the agreement date with an
                     perjanjian dengan tingkat bunga LIBOR 6 (enam)                                        interest rate of LIBOR 6 (six) months plus a certain
                     bulan ditambah marjin tertentu dan Tranche B                                          margin and Tranche B is a direct loans
                     berupa pinjaman langsung dalam valuta CNY                                             denominated in CNY with a total facility of
                     dengan total fasilitas sebesar CNY1.908.420.000                                       CNY1,908,420,000 (full amount) maturing in 10
                     (nilai penuh) yang jatuh tempo 10 (sepuluh)                                           (ten) years since the agreement date with SHIBOR
                     tahun setelah tanggal perjanjian dengan tingkat                                       interest rate of 6 (six) months plus a certain
                     bunga SHIBOR 6 (enam) bulan ditambah marjin                                           margin.
                     tertentu.


1344 PT Bank Mandiri (Persero) Tbk                                                              277
Page 838
     CORPORATE                          ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                             Financial
     GOVERNANCE                         & PRACTICES                                RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                             Statements 2023


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                            (Expressed in millions of Rupiah, unless otherwise stated)

36. PINJAMAN YANG DITERIMA (lanjutan)                                              36. FUND BORROWINGS (continued)

    (b) Direct off-shore loans (lanjutan)                                              (b) Direct off-shore loans (continued)

         China Development Bank (lanjutan)                                                     China Development Bank (continued)

         Pada tanggal 16 Maret 2021, Tranche B telah                                           On 16 March 2021, Tranche B was converted into
         dikonversi menjadi pinjaman dalam valuta USD                                          a loan in USD with a total amount of
         dengan nilai sebesar USD194.288.681 (nilai                                            USD194,288,681 (full amount) with an interest rate
         penuh) dengan tingkat bunga LIBOR 6 (enam)                                            of 6 (six) months LIBOR plus a certain margin.
         bulan ditambah marjin tertentu. Tidak terdapat                                        There is no change in the maturity of the facility for
         perubahan jatuh tempo fasilitas atas konversi ini.                                    this conversion.
        Pada    bulan  Juni   2023,  Bank  telah                                               In June 2023, the Bank has signed an override
        menandatangani override agreement terkait                                              agreement regarding the change in the benchmark
        perubahan suku bunga acuan dari LIBOR                                                  interest rate from LIBOR to SOFR.
        menjadi SOFR.

         Oversea Chinese Banking                                                               Oversea Chinese Banking
                                                                                    2023

                                                                                      Tingkat                         Nilai nominal/Nominal amount
                                                                                        suku                         Valuta asing
                                                                        Jangka         bunga
                                                     Tanggal jatuh       waktu       per tahun/                      (nilai penuh)/       Setara
                                Pemberi                Tempo/           (bulan)/      Interest                          Foreign          Rupiah/
                               Pinjaman/               Maturity          Tenor          rate            Mata uang/     currency          Rupiah
               Jenis            Lender                   date          (months)      per annum          Currency     (full amount)      equivalent         Type

                                                                                    SOFR (3 bulan)
                               Oversea Chinese                                     + marjin tertentu/
        Direct off-shore               Banking,         24 Desember/               SOFR (3 months)                                                      Direct off-shore
        loans               Singapura/Singapore        December 2026          36    + certain margin          USD       150.000.000         2.309.550              loans




                                                                                                                        150.000.000         2.309.550


         Bank Mandiri memperoleh fasilitas pinjaman                                            Bank Mandiri obtained loan facility without
         tanpa agunan dari Overseas Chinese Bank                                               collateral from United Overseas Bank Limited,
         Limited, Singapura masing-masing sebesar                                              Singapore amounted to USD150,000,000 (full
         USD150.000.000 (nilai penuh) dengan tingkat                                           amount), with the interest rate of SOFR 3 (three)
         bunga SOFR 3 (tiga) bulan ditambah marjin                                             months plus certain margin. The loan facilities
         tertentu. Fasilitas pinjaman ini memiliki tenor                                       have a tenor more than 1 (one year) and will
         lebih dari 1 (satu) tahun dan akan jatuh tempo                                        mature on 24 December 2026.
         pada tanggal 24 Desember 2026.

         Taishin International Bank                                                            Taishin International Bank
                                                                                    2023

                                                                                      Tingkat                         Nilai nominal/Nominal amount
                                                                                        suku                         Valuta asing
                                                                        Jangka         bunga
                                                     Tanggal jatuh       waktu       per tahun/                      (nilai penuh)/       Setara
                                Pemberi                Tempo/           (bulan)/      Interest                          Foreign          Rupiah/
                               Pinjaman/               Maturity          Tenor          rate            Mata uang/     currency          Rupiah
               Jenis            Lender                   date          (months)      per annum          Currency     (full amount)      equivalent         Type

                                                                                    SOFR (3 bulan)
                             Taishin International                                 + marjin tertentu/
         Direct off-shore                   Bank,       24 Desember/               SOFR (3 months)                                                      Direct off-shore
         loans              Singapura/Singapore        December 2026          36    + certain margin          USD         50.000.000          769.850              loans




                                                                                                                          50.000.000          769.850


         Bank Mandiri memperoleh fasilitas pinjaman                                            Bank Mandiri obtained loan facility without
         tanpa agunan dari Overseas Chinese Bank                                               collateral from United Overseas Bank Limited,
         Limited, Singapura masing-masing sebesar                                              Singapore amounted to USD50,000,000 (full
         USD50.000.000 (nilai penuh) dengan tingkat                                            amount), with the interest rate of SOFR 3 (three)
         bunga SOFR 3 (tiga) bulan ditambah marjin                                             months plus certain margin. The loan facilities
         tertentu. Fasilitas pinjaman ini memiliki tenor                                       have a tenor more than 1 (one year) and will
         lebih dari 1 (satu) tahun dan akan jatuh tempo                                        mature on 24 December 2026.
         pada tanggal 24 Desember 2026.




                                                                                     278                                                     ANNUAL REPORT 2023            1345
Page 839
            MAIN                                MANAGEMENT                                    COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                          REPORTS                                       PROFILE                                      ANALYSIS


                                                                 PT BANK MANDIRI (PERSERO) Tbk.
                                                            DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                                                 36. FUND BORROWINGS (continued)

                (b) Direct off-shore loans (lanjutan)                                                 (b) Direct off-shore loans (continued)

                     Bank of Taiwan                                                                           Bank of Taiwan
                                                                                                   2023

                                                                                                     Tingkat                         Nilai nominal/Nominal amount
                                                                                                       suku
                                                                                       Jangka         bunga                         Valuta asing
                                                                  Tanggal jatuh         waktu       per tahun/                      (nilai penuh)/       Setara
                                               Pemberi              Tempo/             (bulan)/      Interest                          Foreign          Rupiah/
                                              Pinjaman/             Maturity            Tenor          rate            Mata uang/     currency          Rupiah
                           Jenis               Lender                 date            (months)      per annum          Currency     (full amount)      equivalent         Type


                                                                                                   SOFR (3 bulan)
                                                                                                  + marjin tertentu/
                     Direct off-shore   Bank of Taiwan Offshore                                   SOFR (3 months)                                                      Direct off-shore
                     loans                      Banking Taiwan    15 Juni/June 2026          36    + certain margin          USD         35.000.000          538.895              loans

                                                                                                   SOFR (3 bulan)
                                                                                                  + marjin tertentu/
                     Direct off-shore          Bank of Taiwan,                                    SOFR (3 months)                                                      Direct off-shore
                     loans                 Singapura/Singapore    15 Juni/June 2026          36    + certain margin          USD         10.000.000          153.970              loans




                                                                                                                                         45.000.000          692.865


                    Efektif per tanggal 15 September 2023, Bank                                               Effective as of 15 September 2023, Bank Mandiri
                    Mandiri memiliki outstanding fasilitas pinjaman                                           has an outstanding unsecured loan facility from
                    tanpa agunan dari Bank of Taiwan Ltd., Offshore                                           Bank of Taiwan Ltd., Offshore Banking, amounting
                    Banking sebesar USD35.000.000 (nilai penuh) dan                                           to USD35,000,000 (full amount), and from Bank of
                    Bank of Taiwan Ltd., Singapore USD10.000.000                                              Taiwan       Ltd.,   Singapore,     amounting        to
                    (nilai penuh) dengan tingkat bunga SOFR 3 (tiga)                                          USD10,000,000 (full amount), with a SOFR 3
                    bulan ditambah marjin tertentu, yang berasal dari                                         (three) months interest rate plus a certain margin,
                    pengalihan sebagian pinjaman MUFG Bank, Ltd.,                                             originating from the transfer of a portion of the loan
                    Singapura. Fasilitas pinjaman ini memiliki tenor                                          from MUFG Bank, Ltd., Singapore. The loan
                    lebih dari 1 (satu) tahun dan akan jatuh tempo                                            facilities have a tenor more than 1 (one year) and
                    pada tanggal 15 Juni 2026.                                                                will mature on 15 June 2026.

                     Bank of China                                                                            Bank of China
                                                                                                   2023

                                                                                                     Tingkat                         Nilai nominal/Nominal amount
                                                                                                       suku
                                                                                       Jangka         bunga                         Valuta asing
                                                                  Tanggal jatuh         waktu       per tahun/                      (nilai penuh)/       Setara
                                               Pemberi              Tempo/             (bulan)/      Interest                          Foreign          Rupiah/
                                              Pinjaman/             Maturity            Tenor          rate            Mata uang/     currency          Rupiah
                           Jenis               Lender                 date            (months)      per annum          Currency     (full amount)      equivalent         Type


                                                                                                   SOFR (3 bulan)
                                                                                                  + marjin tertentu/
                     Direct off-shore           Bank of China,                                    SOFR (3 months)                                                      Direct off-shore
                     loans                 Singapura/Singapore    15 Juni/June 2026          36    + certain margin          USD          8.000.000          123.176              loans



                                                                                                                                          8.000.000          123.176




                    Efektif per tanggal 15 September 2023, Bank                                               Effective as of September 15, 2023, Bank Mandiri
                    Mandiri memiliki outstanding fasilitas pinjaman                                           has an outstanding unsecured loan facility from
                    tanpa agunan dari Bank of China Ltd., Singapura                                           Bank of China Ltd.,Singapore, amounting to
                    sebesar USD8.000.000 (nilai penuh) dengan                                                 USD8,000,000 (full value) with a SOFR 3 (three)
                    tingkat bunga SOFR 3 (tiga) bulan ditambah marjin                                         months interest rate plus a certain margin,
                    tertentu, yang berasal dari pengalihan sebagian                                           originating from the transfer of a portion of the loan
                    pinjaman MUFG Bank, Ltd., Singapura. Fasilitas                                            from MUFG Bank, Ltd., Singapore. The loan
                    pinjaman ini memiliki tenor lebih dari 1 (satu) tahun                                     facilities have a tenor more than 1 (one year) and
                    dan akan jatuh tempo pada tanggal 15 Juni 2026.                                           will mature on 15 June 2026.




1346 PT Bank Mandiri (Persero) Tbk                                                                  279
Page 840
     CORPORATE                          ESG COMMITMENTS                             SOCIAL AND ENVIRONMENTAL                                  LAPORAN
                                                                                                                                                Financial
     GOVERNANCE                         & PRACTICES                                 RESPONSIBILITY                                            KEUANGAN   2023
                                                                                                                                                Statements 2023


                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                              (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                                               36. FUND BORROWINGS (continued)

    (b) Direct off-shore loans (lanjutan)                                                 (b) Direct off-shore loans (continued)

        Taipei Fubon Commercial Bank                                                             Taipei Fubon Commercial Bank
                                                                                     2022

                                                                                        Tingkat                          Nilai nominal/Nominal amount
                                                                                          suku
                                                                         Jangka          bunga                          Valuta asing
                                                   Tanggal jatuh          waktu        per tahun/                       (nilai penuh)/       Setara
                                 Pemberi             Tempo/              (bulan)/       Interest                           Foreign          Rupiah/
                                Pinjaman/            Maturity             Tenor           rate             Mata uang/     currency          Rupiah
                Jenis            Lender                date             (months)       per annum           Currency     (full amount)      equivalent         Type


                                                                                       LIBOR (3 bulan)
                                   Taipei Fubon                                       + marjin tertentu/
         Direct off-shore       Commercial Bank              14 Juli/               LIBOR (3 months)                                                       Direct off-shore
          loans                   Taiwan/Taiwan            July 2023           90      + certain margin          USD         25.000.000          389.188              loans

         Dikurangi:                                                                                                                                                  Less:
         Biaya teratribusi                                                                                                                                   Unamortised
           yang belum                                                                                                                                       attributable
           diamortisasi                                                                                                         (12.902)           (201)           costs


                                                                                                                             24.987.098          388.987



         Pada tanggal 14 Juli 2020, Bank Mandiri                                                 On 14 July 2020, Bank Mandiri obtained a loan
         memperoleh fasilitas pinjaman dari Taipei Fubon                                         facility from Taipei Fubon Commercial Bank Co.
         Commercial Bank Co. Ltd - Singapore Branch                                              Ltd.     -   Singapore    Branch     amounted     to
         sebesar USD25.000.000 (nilai penuh) dengan                                              USD25,000,000 (full amount) with interest rate of
         tingkat bunga LIBOR 3 (tiga) bulan ditambah                                             LIBOR 3 (three) months plus a certain margin. This
         marjin tertentu. Fasilitas pinjaman ini memiliki                                        loan facility has a tenor of 3 (three) years and will
         tenor 3 (tiga) tahun dan jatuh tempo pada tanggal                                       mature on 14 July 2023. On 5 April 2023, the Bank
         14 Juli 2023. Pada tanggal 5 April 2023, Bank                                           has signed an override agreement related to the
         telah menandatangani override agreement terkait                                         change in the benchmark interest rate from LIBOR
         perubahan suku bunga acuan dari LIBOR                                                   to Term SOFR.
         menjadi Term SOFR.

        Bank Mandiri telah melakukan penarikan atas                                              Bank Mandiri has made a drawdown of
        fasilitas pinjaman ini sebesar USD25.000.000                                             USD25,000,000 (full amount) on 30 July 2020. The
        (nilai penuh) pada tanggal 30 Juli 2020 dan telah                                        transaction already matured on the maturity date.
        jatuh tempo sesuai dengan tanggal jatuh
        temponya.

         Agence Française de Développement                                                        Agence Française de Développement

                                                                                     2022

                                                                                        Tingkat                          Nilai nominal/Nominal amount
                                                                                          suku
                                                                         Jangka          bunga                          Valuta asing
                                                   Tanggal jatuh          waktu        per tahun/                       (nilai penuh)/       Setara
                                 Pemberi             Tempo/              (bulan)/       Interest                           Foreign          Rupiah/
                                Pinjaman/            Maturity             Tenor           rate             Mata uang/     currency          Rupiah
                Jenis            Lender                date             (months)       per annum           Currency     (full amount)      equivalent         Type


                                                                                      LIBOR (6 bulan)
                             Agence Française de                                     + marjin tertentu/
         Direct off-shore        Développement                                      LIBOR (6 months)                                                       Direct off-shore
          loans                   Prancis/France   30 September 2023          114     + certain margin           USD          1.428.571           22.239              loans

         Dikurangi:                                                                                                                                                  Less:
         Biaya teratribusi                                                                                                                                   Unamortised
           yang belum                                                                                                                                       attributable
           diamortisasi                                                                                                          (9.124)           (142)           costs


                                                                                                                              1.419.447           22.097




                                                                                       280                                                      ANNUAL REPORT 2023            1347
Page 841
            MAIN                        MANAGEMENT                         COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                         ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

                (b) Direct off-shore loans (lanjutan)                            (b) Direct off-shore loans (continued)
                     Agence       Française     de      Développement                 Agence      Française       de      Développement
                     (lanjutan)                                                       (continued)
                     Pada tanggal 8 November 2013, Bank Mandiri                       On 8 November 2013, Bank Mandiri signed a new
                     menandatangani fasilitas pinjaman baru yang                      second loan facility agreement or second line of
                     kedua atau second line of credit dari Agence                     credit with Agence Française de Développement,
                     Française de Développement, Perancis (AFD)                       France (AFD) amounted to USD100,000,000 (full
                     senilai USD100.000.000 (nilai penuh) untuk                       amount) to assist the financing for projects related
                     membantu pembiayaan proyek-proyek yang                           to climate change and energy efficiency. This long
                     terkait dengan perubahan iklim dan efisiensi                     term facility has a tenor of 5 to 10 years (including
                     energi. Fasilitas jangka panjang ini memiliki tenor              grace period) with an interest rate at 6-months
                     5 tahun sampai 10 tahun (termasuk grace period)                  LIBOR plus a certain margin. As part of the loan
                     dengan suku bunga LIBOR 6 (enam) bulan                           agreement, Bank Mandiri and AFD will finance a
                     ditambah marjin tertentu. Sebagai bagian dari                    training program aimed at building the capacity of
                     perjanjian pinjaman dimaksud, Bank Mandiri dan                   the Bank Mandiri especially on the topics of
                     AFD juga secara bersama akan membiayai                           climate change and energy efficiency. The facility
                     program pelatihan yang ditujukan untuk                           mature on 30 September 2023.
                     pengembangan         kapasitas    Bank     Mandiri
                     khususnya terhadap topik-topik perubahan iklim
                     dan efisiensi energi. Fasilitas tersebut jatuh
                     tempo tanggal 30 September 2023.

                (c) Fasilitas pendanaan       perdagangan     (banker’s          (c) Trade financing facilities (bankers’ acceptance)
                    acceptance)

                     Pada tanggal 25 Maret 2014, Bank melakukan                       On 25 March 2014, the Bank drawdown the loan
                     penarikan atas fasilitas pinjaman tersebut                       amounted to USD10,000,000 (full amount), which
                     sebesar USD10.000.000 (nilai penuh) yang telah                   was mature on 30 September 2023. The
                     jatuh tempo pada tanggal 30 September 2023.                      drawdown of the above facilities are intended to
                     Penarikan atas pinjaman dimaksud untuk                           fulfill the fund requirement to finance the
                     memenuhi kebutuhan sumber dana untuk                             environmentally friendly projects in Bank Mandiri.
                     pembiayaan proyek-proyek ramah lingkungan di
                     Bank Mandiri.

                     Fasilitas pendanaan perdagangan merupakan                        Trade financing facilities represent short-term
                     pinjaman jangka pendek dengan jangka waktu                       borrowings with tenors ranging between 30 days to
                     mulai dari 30 hari sampai dengan 365 hari                        365 days and with interest rate of LIBOR or SOFR
                     dengan tingkat suku bunga sebesar LIBOR atau                     plus a certain margin. The balance as of
                     SOFR ditambah marjin tertentu. Rincian saldo                     31 December 2023 and 2022 are as follows:
                     pada tanggal 31 Desember 2023 dan 2022
                     adalah sebagai berikut:

                                                                  2023                  2022

                      CoBank US, Amerika Serikat                   4.557.512             4.514.575             CoBank US, United States
                      United Overseas Bank Limited,                                                        United Overseas Bank Limited,
                          Singapura                                4.110.999             1.108.406                           Singapore
                      Bank of Montreal, Kanada                     3.689.537               622.700              Bank of Montreal, Canada
                      DBS Bank, Singapura                          3.387.340             2.335.125                  DBS Bank, Singapore
                      Wells Fargo Bank, Singapura                  3.370.576             1.562.821          Wells Fargo Bank, Singapore
                      Emirates NBD Bank, Singapura                 3.079.400                     -        Emirates NBD Bank, Singapore
                      The Bank of New York Mellon,                                                         The Bank of New York Mellon,
                          Singapura                                2.845.981               957.401                           Singapore
                      MUFG Bank, Ltd., Singapura                   1.539.700               753.467          MUFG Bank, Ltd., Singapore
                      CTBC Bank Co. Ltd., Singapura                1.458.712             1.089.725        CTBC Bank Co, Ltd., Singapore
                      Bank of America, N.A, Singapura              1.296.889                     -       Bank of America, N.A. Singapore
                      Sumitomo Mitsui Banking                                                                    Sumitomo Mitsui Banking
                          Corporation, Singapura                   1.224.831             1.951.698              Corporation, Singapore
                      The Hongkong and Shanghai                                                             The Hongkong and Shanghai
                          Banking Corporation,                                                                    Banking Corporation,
                          Singapura                                 1.176.485            2.604.754                           Singapore
                      Bank of America, N.A, Hong Kong               1.054.695            1.684.310      Bank of America, N.A. Hong Kong
                      CIMB Bank, Hong Kong                            461.910              358.053                CIMB Bank, Hong Kong
                      Citibank N.A, Hong Kong                               -            1.587.885              Citibank N.A., Hong Kong

                      Total                                       33.254.567            21.130.920                                   Total



1348 PT Bank Mandiri (Persero) Tbk                                              281
Page 842
     CORPORATE                 ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                        Financial
     GOVERNANCE                & PRACTICES                    RESPONSIBILITY                          KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                         36. FUND BORROWINGS (continued)
    (d) Repo to maturity                                         (d) Repo to maturity
         Mata uang asing                                             Foreign currency
         Pada tanggal 11 Mei 2020, Bank Mandiri                      On 11 May 2020, Bank Mandiri entered into
         melakukan      transaksi   pinjaman     sebesar             borrowing transaction of USD99,774,646 (full
         USD99.774.646 (nilai penuh) melalui skema                   amount) through the cross currency repo to
         cross currency repo to maturity dengan Standard             maturity scheme with Standard Chartered Bank -
         Chartered Bank - Jakarta (SCB). Dalam transaksi             Jakarta Branch (SCB). In this repo to maturity
         repo to maturity ini, Bank Mandiri mengalihkan              transactions, Bank Mandiri transferred government
         obligasi pemerintah FR063 kepada SCB. Atas                  bonds FR063 to SCB. Upon the transfer of
         pengalihan obligasi pemerintah FR063 tersebut,              government bonds FR063, Bank Mandiri
         Bank Mandiri mengakui tagihan sebesar nilai                 recognised receivables at the amount of cash
         tunai (cash value) FR063 kepada SCB. Fasilitas              value of FR063 to SCB. This borrowing facility has
         pinjaman ini memiliki tenor 3 (tiga) tahun yang             a tenor of 3 (three) years which will mature at the
         telah jatuh tempo sesuai dengan jatuh tempo                 same date of to maturity of FR063 at 15 May 2023.
         FR063 yaitu pada tanggal 15 Mei 2023. Pada                  On the maturity date, SCB submit cash value
         tanggal jatuh tempo, SCB telah menyerahkan                  (Rupiah) to Bank Mandiri at the amount of
         nilai tunai (IDR) ke Bank Mandiri sesuai face               underlying face value plus the last underlying
         value underlying ditambah dengan kupon terakhir             coupon, and Bank Mandiri will send the cash value
         underlying, dan Bank Mandiri telah mengirimkan              (USD) to SCB at the borrowing amount plus the
         nilai tunai (USD) ke SCB sebesar jumlah                     last borrowing interest payment.
         pinjaman ditambah pembayaran bunga pinjaman
         terakhir.
         Pada tanggal 30 Mei 2018, Bank Mandiri                      On 30 May 2018, Bank Mandiri entered
         melakukan        transaksi    pinjaman   sebesar            into borrowing       transaction      amounted      to
         USD37.000.000 (nilai penuh), USD40.940.000                  USD37,000,000 (full amount), USD40,940,000 (full
         (nilai penuh) dan USD50.000.000 (nilai penuh)               amount) and USD50,000,000 (full amount) through
         melalui skema repo to maturity dengan Nomura                repo to maturity scheme with Nomura Singapore
         Singapore Limited (NSL). Dalam transaksi repo               Limited (NSL). In this repo to maturity transactions,
         to maturity ini, Bank Mandiri mengalihkan obligasi          Bank Mandiri transferred government bonds ROI
         pemerintah ROI 23NN, ROI 24, dan ROI 25                     23NN, ROI 24, and ROI 25 to NSL. Upon the
         kepada      NSL.     Atas   pengalihan    obligasi          transfer of government bonds ROI 23NN, ROI 24,
         pemerintah       ROI    23NN,     ROI  24,    dan           and ROI 25, Bank Mandiri recognised receivables
         ROI 25 tersebut, Bank Mandiri mengakui tagihan              at the amount of cash value of ROI 23NN, ROI 24
         sebesar nilai tunai (cash value) dari ROI 23NN,             and ROI 25 to NSL. This borrowing facilities have 5
         ROI 24, dan ROI 25 kepada NSL. Fasilitas                    (five), 6 (six), and 7 (seven) years tenor. The
         pinjaman ini memiliki tenor 5 (lima), 6 (enam),             borrowings amounted to USD24,926,000 (full
         dan 7 (tujuh) tahun. Pinjaman sebesar                       amount) has matured according to the ROI 23 NN
         USD24.926.000 telah jatuh tempo sesuai dengan               maturity date, which on 11 January 2023, while the
         tanggal jatuh tempo ROI 23 NN, yaitu 11 Januari             borrowings amounted to USD31,270,000 (full
         2023,       sedangkan       pinjaman     sebesar            amount) and USD34,782,000 (full amount) will
         USD31.270.000 dan USD34.782.000 akan jatuh                  mature according to the ROI 24 and ROI 25
         tempo sesuai dengan tanggal jatuh tempo ROI                 maturity dates, which on 15 January 2024 and
         24 dan ROI 25, yaitu pada tanggal 15 Januari                15 January 2025. On the maturity date, settlement
         2024 dan 15 Januari 2025. Pada tanggal jatuh                of this transaction will be carried out on a net basis
         tempo, penyelesaian transaksi ini akan dilakukan            from borrowings and receivables between Bank
         secara neto dari pinjaman dan tagihan antara                Mandiri and NSL.
         Bank Mandiri dan NSL.
         Pada tanggal 31 Desember 2023 dan 2022,                     As of 31 December 2023 and 2022, Repo to
         Repo to maturity mata uang asing masing-                    maturity of foreign currencies amounted to
         masing sebesar Rp1.017.003 dan Rp2.969.542.                 Rp1,017,003 and Rp2,969,542, respectively.
         Fasilitas pinjaman dari NSL tersebut dijamin                This loan facilities from NSL have guaranteed by
         dengan penempatan masing-masing sebesar                     placement       amounted     to    USD4,335,315
         USD4.335.315 (nilai penuh) (31 Desember 2022:               (full amount) (31 December 2022: USD2,270,190
         USD2.270.190 (nilai penuh)) (Catatan 6g).                   (full amount)) (Notes 6g).
    (e) Bank Indonesia                                           (e) Bank Indonesia
         Pada tanggal 31 Desember 2023, Entitas Anak                 On 29 and 31 August 2023, the Subsidiary, namely
         yaitu PT Bank Syariah Indonesia Tbk. (“BSI”)                PT Bank Syariah Indonesia Tbk. (“BSI”) obtained a
         mendapatkan      fasilitas   penyediaan   dana              funding facility based on sharia principles from
         berdasarkan prinsip syariah dari Bank Indonesia             Bank Indonesia for liquidity management
         untuk     pengelolaan      likuiditas   sebesar             amounted to Rp11,900,055 with a profit-sharing
         Rp11.900.055 dengan persentase bagi hasil                   rate of 6.25% and 6.85% per year. This facility is
         sebesar 6,25% dan 6,85% per tahun. Fasilitas ini            guaranteed by collateral in the form of sharia
         dijamin dengan agunan berupa surat berharga                 securities and will mature in less than one month
         yang memenuhi prinsip syariah yang jatuh tempo              with nominal Rp12,500,000.
         kurang dari satu bulan dengan nominal sebesar
         Rp12.500.000.


                                                               282                                     ANNUAL REPORT 2023     1349
Page 843
            MAIN                       MANAGEMENT                         COMPANY                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                                  ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

                (f)   Lain-lain                                                        (f)   Others

                                                                 2023                          2022

                       Rupiah                                                                                                            Rupiah
                         Pihak berelasi                                                                                        Related parties
                              PT Bank Negara Indonesia                                                             PT Bank Negara Indonesia
                                (Persero) Tbk.                         960.540                 1.239.578                    (Persero) Tbk.
                              PT Bank Tabungan Negara                                                              PT Bank Tabungan Negara
                                (Persero) Tbk.                         805.084                   971.126                    (Persero) Tbk.

                                                                  1.765.624                     2.210.704
                          Pihak ketiga                                                                                                  Third parties
                               PT Bank Central Asia Tbk.          7.925.272                     5.732.180           PT Bank Central Asia Tbk.
                               PT Bank Pan Indonesia Tbk.         3.993.077                     3.048.510         PT Bank Pan Indonesia Tbk.
                               PT Bank Danamon                                                                              PT Bank Danamon
                                 Indonesia Tbk.                   1.573.619                     2.241.928                     Indonesia Tbk.
                               PT Bank Maybank                                                                               PT Bank Maybank
                                    Indonesia Tbk.                1.464.831                      568.732                      Indonesia Tbk.
                               PT Bank Pembangunan                                                                    PT Bank Pembangunan
                                   Daerah Jawa Barat                                                                     Daerah Jawa Barat
                                   dan Banten Tbk.                1.443.489                      750.000                     dan Banten Tbk
                               PT Bank China Construction                                                         PT Bank China Construction
                                    Bank Indonesia Tbk.                896.066                   585.408               Bank Indonesia Tbk.
                             . PT Sarana Multigriya                                                                       PT Sarana Multigriya
                                    Finansial                          716.200                          -                            Finansial
                               PT Bank DKI                             693.834                   858.862                            PT Bank DKI
                               PT Bank CIMB Niaga Tbk.                 607.627                   391.260           PT Bank CIMB Niaga Tbk.
                               PT Bank Permata Tbk.                    568.383                   683.222               PT Bank Permata Tbk.
                               PT Bank Jtrust Indonesia Tbk.           501.487                   258.375        PT Bank Jtrust Indonesia Tbk.
                               PT Bank of India Indonesia Tbk.         443.487                          -      PT Bank of India Indonesia Tbk.
                               PT Bank Oke Indonesia Tbk.              388.874                   599.577          PT Bank Oke Indonesia Tbk.
                               PT Bank Panin Dubai Syariah             373.487                    96.844         PT Bank Panin Dubai Syariah
                               PT Bank QNB Indonesia Tbk.              366.008                   241.323         PT Bank QNB Indonesia Tbk.
                               PT Bank UOB Indonesia                   337.082                   569.683             PT Bank UOB Indonesia
                               PT Bank KEB Hana Indonesia              279.783                   207.400        PT Bank KEB Hana Indonesia
                               PT Bank BTPN                            250.000                          -                        PT Bank BTPN
                               PT Bank BCA Syariah                     224.711                   234.745                PT Bank BCA Syariah
                               PT Bank Mega Tbk.                       216.461                   378.577                   PT Bank Mega Tbk.
                               PT Bank BPD Daerah                                                                       PT Bank BPD Daerah
                                    Istimewa Yogyakarta                159.458                        99.730             Istimewa Yogyakarta
                               PT Bank Muammalat                       117.834                             -              PT Bank Muammalat
                               PT Bank Danamon                                                                              PT Bank Danamon
                                   Indonesia Tbk. -                                                                             - Indonesia Tbk.
                                   Unit Usaha Syariah                  101.351                        23.927               Unit Usaha Syariah
                               PT Maybank Syariah                       65.580                        90.542              PT Maybank Syariah
                               PT Bank Victoria                                                                               PT Bank Victoria
                                    International Tbk .                 49.994                             -                   International Tbk.
                               PT Bank Jago Tbk.                        49.875                             -                PT Bank Jago Tbk.
                               PT Bank DKI Syariah.                     24.937                             -             PT Bank DKI Syariah
                               PT Bank Central Asia Tbk. -                                                          PT Bank Central Asia Tbk.
                                    Sindikasi Onshore                            -               609.710               - Syndication Onshore

                                                                 23.832.807                    18.270.535

                       Total                                     25.598.431                    20.481.239                                  Total




1350 PT Bank Mandiri (Persero) Tbk                                                   283
Page 844
     CORPORATE                   ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                        LAPORAN
                                                                                                                   Financial
     GOVERNANCE                  & PRACTICES                     RESPONSIBILITY                                  KEUANGAN   2023
                                                                                                                   Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

    (f)   Lain-lain (lanjutan)                                             (f)   Others (continued)

                                                      2023                         2022

           Mata uang asing                                                                                      Foreign currencies
                  PT Bank Mizuho Indonesia                 577.302                          -          PT Bank Mizuho Indonesia
                  MUFG Bank, Ltd., Singapura               219.678                    373.611         MUFG Bank, Ltd., Singapura
                  PT Bank Maybank                                                                              PT Bank Maybank
                      Indonesia Tbk.                                 -                778.375                   Indonesia Tbk.
                  The Development Bank of                                                               The Development Bank of
                      Singapore Limited                              -                 48.766                Singapore Limited

           Total                                           796.980                  1.200.752                                    Total
                                                     26.395.411                   21.681.991

          Rupiah                                                                 Rupiah

          PT Bank Negara Indonesia (Persero) Tbk.                                PT Bank Negara Indonesia (Persero) Tbk.

          Pada tanggal 9 Oktober 2018, Entitas Anak                              On 9 October 2018, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) memperoleh fasilitas                        Utama Finance) obtained a working capital loan
          pinjaman modal kerja dari PT Bank Negara                               facility from PT Bank Negara Indonesia (Persero)
          Indonesia (Persero) Tbk. ("BNI") dengan batas                          Tbk. ("BNI") with a maximum loan limit of
          maksimum kredit sejumlah Rp250.000 dengan                              Rp250,000, with an interest rate of 8.75% - 9.50%.
          tingkat suku bunga sebesar 8,75% - 9,50%.                              The facility is a revolving working capital loan. The
          Fasilitas tersebut bersifat Kredit Modal Kerja                         period of withdrawal of loan facilities is up to
          revolving. Jangka waktu penarikan fasilitas kredit                     9 October 2019 and has been extended in
          adalah sampai dengan 9 Oktober 2019 dan telah                          4 October 2019, therefore the maturity date will be
          diperpanjang pada tanggal 4 Oktober 2019                               until 25 May 2025.
          sehingga jatuh temponya sampai dengan 25 Mei
          2025.

          Pada tanggal 18 April 2022, Entitas Anak                               On 18 April 2022, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) memperoleh                                  Utama Finance) obtained an additional limit for a
          tambahan plafon fasilitas Kredit Modal Kerja non-                      non-revolving working capital loan facility from BNI
          revolving dari BNI dengan batas maksimum                               with a maximum credit limit of Rp1,250,000 with an
          kredit sebesar Rp1.250.000 dengan tingkat suku                         interest rate of 6.50% - 6.80% which has an
          bunga sebesar 6,50% - 6,80% yang memiliki                              undrawn period until 18 April 2023 and the tenor of
          masa kelonggaran tarik sampai dengan 18 April                          the facility maximum up to 4 (four) years. therefore
          2023 dan tenor fasilitas maksimum hingga 4                             the maturity date will be until 25 Januari 2027.
          (empat) tahun. Fasilitas tersebut akan jatuh
          tempo tanggal 25 Januari 2027.

          Pada tanggal 31 Desember 2023 dan 2022,                                As of 31 December 2023 and 2022 outstanding
          pinjaman dari BNI masing-masing sebesar                                fund borrowings from BNI are amounted to
          Rp960.540 dan Rp1.239.578.                                             Rp960,540 and Rp1,239,578, respectively.

          PT Bank Tabungan Negara (Persero) Tbk.                                 PT Bank Tabungan Negara (Persero) Tbk.

          Pada tanggal 16 Juni 2021, Entitas Anak                                On 16 June 2021, the Subsidiary (PT Bank Mandiri
          (PT Bank Mandiri Taspen) memperoleh fasilitas                          Taspen) obtained a credit facility from PT Bank
          kredit dari dari PT Bank Tabungan Negara                               Tabungan Negara (Persero) Tbk. (“BTN”), in the
          (Persero) Tbk. (“BTN”), berupa fasilitas Term                          form of a Term Loan (committed) - non-revolving
          Loan (committed) - non revolving dengan jumlah                         facility with a maximum amount of Rp500,000. This
          maksimum sebesar Rp500.000. Fasilitas tersebut                         facility is used to finance the Subsidiary's working
          digunakan untuk membiayai modal kerja Entitas                          capital. This facility has tenor of up to 12 months
          Anak. Fasilitas ini memiliki jangka waktu selama                       with interest fix rate of 5.03% per annum. On
          12 bulan dengan suku bunga tetap 5,03% per                             19 May 2022, the term of this facility has been
          tahun. Pada tanggal 19 Mei 2022, jangka waktu                          extended to 29 June 2025.
          fasilitas ini telah diperpanjang kembali hingga
          29 Juni 2025.




                                                                         284                                      ANNUAL REPORT 2023     1351
Page 845
            MAIN                             MANAGEMENT                   COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                      PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                           36. FUND BORROWINGS (continued)
                (f)   Lain-lain (lanjutan)                                     (f)   Others (continued)
                      Rupiah (lanjutan)                                              Rupiah (continued)

                      PT Bank Tabungan Negara (Persero) Tbk.                         PT Bank Tabungan Negara (Persero) Tbk.
                      (lanjutan)                                                     (continued)
                      Pada tanggal 12 Oktober 2022, Entitas Anak                     On 12 October 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan BTN                             Tunas Finance) and BTN signed a non-revolving
                      menandatangani perjanjian kredit sebesar                       loan agreement amounting to Rp500,000. The
                      Rp500.000     yang    bersifat    non-revolving.               facility was drawn on 19 October 2022, with tenor
                      Penarikan fasilitas dilakukan pada tanggal                     of 3 (three) years and interest rate of 6.00 - 7.60%.
                      19 Oktober 2022 dengan tenor 3 (tiga) tahun dan                The facility will mature on 19 October 2025.
                      dikenakan tingkat suku bunga antara 6,00% -
                      7,60%. Fasilitas tersebut jatuh tempo pada
                      tanggal 19 Oktober 2025.
                      Pada tanggal 31 Desember 2023 dan 2022, tidak                  As of 31 December 2023 and 2022, there were no
                      terdapat aset Entitas Anak yang dijaminkan atas                Subsidiary assets used as collateral for fund
                      pinjaman yang diterima.                                        borrowings.
                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, the Subsidiary
                      Entitas Anak telah memenuhi persyaratan dan                    has complied with the terms and conditions set out
                      ketentuan yang ditetapkan dalam perjanjian                     in the loan agreement.
                      pinjaman.
                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, outstanding
                      pinjaman dari BTN masing-masing sebesar                        fund borrowings from BTN are amounted to
                      Rp805.084 dan Rp971.126.                                       Rp805,084 and Rp971,126, respectively.

                      PT Bank Central Asia Tbk.                                      PT Bank Central Asia Tbk.
                      Pada bulan Januari 2020, Entitas Anak (PT Bank                 In January 2020, the Subsidiary (PT Bank Mandiri
                      Mandiri Taspen) memperoleh fasilitas kredit dari               Taspen) obtained a loan facility from BCA, in the
                      BCA, berupa fasilitas Term Loan 1 (committed) –                form of Term Loan 1 (committed) - non-revolving
                      non-revolving dengan jumlah maksimum sebesar                   facility with a maximum amount of Rp500,000. This
                      Rp500.000. Fasilitas tersebut digunakan untuk                  facility is used to finance the Subsidiary's working
                      membiayai modal kerja Entitas Anak. Fasilitas ini              capital. This facility has a term of 12 months up to
                      memiliki jangka waktu selama 12 bulan hingga                   20 January 2021 which bears interest at JIBOR 3
                      20 Januari 2021 dengan suku bunga JIBOR 3                      (three) months + 125bps. On 15 December 2021,
                      (tiga) bulan + 125bps. Pada tanggal 15                         the Term Loan 1 (committed) - non revolving has
                      Desember 2021, jangka waktu fasilitas Term                     been extended up to 20 January 2025.
                      Loan 1 (committed) - non revolving telah
                      diperpanjang kembali hingga 20 Januari 2025
                      Pada bulan Maret 2021, Entitas Anak (PT Bank                   On March 2021, the Subsidiary (PT Bank Mandiri
                      Taspen) memperoleh fasilitas kredit dari BCA,                  Taspen) obtained a credit facility from BCA, in the
                      berupa fasilitas Term Loan 3 (committed) - non                 form of Term Loan 3 (committed) – non-revolving
                      revolving dengan jumlah maksimum sebesar                       facility with maximum amount of Rp250,000. This
                      Rp250.000. Fasilitas tersebut digunakan untuk                  facility is used to finance the Subsidiary's working
                      membiayai modal kerja Entitas Anak. Fasilitas ini              capital. This facility has a term of 12 (twelve)
                      memiliki jangka waktu selama 12 (dua belas)                    months until 30 June 2022 with a JIBOR interest
                      bulan hingga 30 Juni 2022 dengan suku bunga                    rate of 3 months + 125bps. On 15 December 2021,
                      JIBOR 3 bulan + 125bps. Pada tanggal 15                        the term of the Term Loan 3 (committed) - non-
                      Desember 2021, jangka waktu fasilitas Term                     revolving facility has been extended until 31 March
                      Loan 3 (committed) - non revolving telah                       2025.
                      diperpanjang hingga 31 Maret 2025.
                      Pada bulan Maret 2022, Entitas Anak (PT Bank                   In March 2022, the Subsidiary (PT Bank Mandiri
                      Mandiri Taspen) memperoleh fasilitas kredit dari               Taspen) obtained a credit facility from BCA, in the
                      BCA, berupa fasilitas Term Loan 4 (committed) -                form of a Term Loan 4 (committed) - non-revolving
                      non revolving dengan jumlah maksimum sebesar                   facility with a maximum amount amount of
                      Rp250.000. Fasilitas ini digunakan untuk                       Rp250,000. This facility has a term of 36 (thirty six)
                      membiayai modal kerta. Pinjaman ini memiliki                   months from the date of the first drawdown with an
                      jangka waktu selama 36 (tiga puluh enam) bulan                 interest rate of 5.25% per annum. As of 31
                      dari tanggal penarikan pertama dengan suku                     December 2023 and 2022, the Subsidiary has
                      bunga 5,25% per tahun. Pada tanggal 31                         complied with the terms and conditions set out in
                      Desember 2023 dan 2022, Entitas Anak telah                     the loan agreement.
                      memenuhi persyaratan dan ketentuan yang
                      ditetapkan dalam perjanjian pinjaman.



1352 PT Bank Mandiri (Persero) Tbk                                           285
Page 846
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                          36. FUND BORROWINGS (continued)

    (f)   Lain-lain (lanjutan)                                    (f)   Others (continued)

          Rupiah (lanjutan)                                             Rupiah (continued)

          PT Bank Central Asia Tbk. (lanjutan)                          PT Bank Central Asia Tbk. (continued)

          Pada tanggal 20 November 2020 dan 17 April                    On 20 November 2020 and 17 April 2023, the
          2023, Entitas Anak (PT Mandiri Tunas Finance)                 Subsidiary (PT Mandiri Tunas Finance) and BCA
          dan BCA telah menandatangani perjanjian kredit                have signed a credit agreement where BCA
          dimana BCA memberikan beberapa fasilitas                      provides several Installment Loan and Term
          Installment Loan dan Pinjaman Berjangka Money                 Money Market (PBMM) loan facilities with a total
          Market (PBMM) dengan total limit sebesar                      limit of Rp11,808,000 which are non-revolving and
          Rp11.808.000 yang bersifat non-revolving dan                  revolving, respectively. These facilities have
          revolving. Fasilitas tersebut memiliki jatuh tempo            various maturities and range from January 2024 to
          yang beragam dan berkisar antara bulan Januari                January 2027 with interest rate ranging from 6.00%
          2024 sampai dengan bulan Januari 2027 dengan                  - 7.60%.
          suku bunga berkisar antara 6,00% - 7,60%.

          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari BCA masing-masing sebesar                       fund borrowings from BCA was amounted to
          Rp7.925.272 dan Rp5.732.180.                                  Rp7,925,272 and Rp5,732,180, respectively.

          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari BCA - Sindikasi Onshore masing-                 fund borrowings from BCA - Onshore Syndication
          masing sebesar RpNihil dan Rp609.710.                         are amounted to RpNil and Rp609,710,
                                                                        respectively.

          PT Bank Pan Indonesia Tbk.                                    PT Bank Pan Indonesia Tbk.

          Pada tanggal 4 Desember 2020, Entitas Anak                    On 4 December 2020, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) mendapat tambahan                  Utama Finance) obtained a non-revolving Working
          fasilitas Kredit Modal Kerja dari PT Bank Pan                 Capital Loan facility from PT Bank Pan Indonesia
          Indonesia Tbk. (“Panin”) sebesar Rp500.000                    Tbk. (“Panin”) amounted to Rp500,000, This facility
          yang bersifat non-revolving. Atas fasilitas                   is subject to interest rate of 8.25% at the time of
          tersebut dikenakan suku bunga 8,25% pada saat                 withdrawal, the facility will mature on 18 March
          penarikan. Fasilitas tersebut jatuh tempo pada                2024.
          bulan 18 Maret 2024.

          Pada tanggal 25 Agustus 2021, Entitas Anak                    On 25 August 2021, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) mendapat tambahan                  Utama Finance) received an additional non-
          fasilitas Kredit Modal Kerja sebesar Rp500.000                revolving Working Capital Loan facility of
          yang bersifat non-revolving serta tambahan                    Rp500,000, as well as additional Money Market
          Fasilitas Money Market Line sehingga menjadi                  Line Facility which become Rp250,000. The
          Rp250.000. Atas fasilitas Kredit Modal Kerja                  Working Capital Credit facility bears an interest
          dikenakan suku bunga 7,25% pada saat                          rate of 7.25% at the time of withdrawal with
          penarikan dengan kelonggaran tarik sampai                     undrawn portion until February 2022 and will
          dengan bulan Februari 2022 dan jatuh tempo                    mature on 3 February 2025. Meanwhile, the
          pada 3 Februari 2025. Sedangkan untuk fasilitas               Money Market Line credit facility bears a
          Kredit Money Market Line dikenakan tingkat suku               benchmark interest rate, with the withdrawal period
          bunga acuan, dengan kelonggaran tariknya jatuh                due in 26 May 2022.
          tempo pada bulan 26 Mei 2022.

          Pada tanggal 23 Mei 2022, Entitas Anak                        On 23 May 2022, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) mendapat tambahan                  Utama Finance) received an additional non-
          fasilitas Kredit Modal Kerja sebesar Rp500.000                revolving Working Capital Credit facility of
          yang bersifat non-revolving. Atas fasilitas Kredit            Rp500,000. The Working Capital Credit facility
          Modal Kerja dikenakan suku bunga 6,50% pada                   bears an interest rate of 6.50% at the time of
          saat penarikan dengan kelonggaran tarik sampai                withdrawal with undrawn portion available until
          dengan 23 Februari 2023. Sedangkan untuk                      23 February 2023. As for the Money Market Line
          fasilitas Kredit Money Market Line yang jatuh                 Credit facility which matures on 26 May 2022, the
          tempo bulan 26 Mei 2022, Entitas Anak telah                   Subsidiary has extended the facility until 26 May
          melakukan perpanjangan fasilitas sampai dengan                2023 with a plafond of Rp100,000 and is subject to
          26 Mei 2023 dengan plafon menjadi sebesar                     a reference interest rate.
          Rp100.000 dan dikenakan tingkat suku bunga
          acuan.


                                                                286                                     ANNUAL REPORT 2023    1353
Page 847
            MAIN                             MANAGEMENT                    COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                       PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

                (f)   Lain-lain (lanjutan)                                      (f)   Others (continued)

                      Rupiah (lanjutan)                                               Rupiah (continued)

                      PT Bank Pan Indonesia Tbk. (lanjutan)                           PT Bank Pan Indonesia Tbk. (continued)

                      Pada tanggal 19 Desember 2023, Entitas Anak                     On 19 December 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) mendapat tambahan                    Uunas Finance) and Panin signed a non-revolving
                      fasilitas Kredit Modal Kerja sebesar Rp500.000                  loan agreement amounting to Rp500,000 with fixed
                      yang bersifat non-revolving. Atas fasilitas Kredit              interest rates between 7% - 7.25%. At the time of
                      Modal Kerja dikenakan suku bunga 7% - 7,25%                     withdrawal with a drawdown flexibility until
                      pada saat penarikan dengan kelonggaran tarik                    19 September 2024. The facility will mature on
                      sampai dengan 19 September 2024. Fasilitas                       23 May 2025.
                      tersebut akan jatuh tempo pada tanggal 23 Mei
                      2025.

                      Pada tanggal 15 November 2022, Entitas Anak                     On 15 November 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan Panin                            Tunas Finance) and Panin signed a non-revolving
                      menandatangani perjanjian kredit sebesar                        loan agreement amounting to Rp2,000,000 with
                      Rp2.000.000 yang bersifat non-revolving dengan                  fixed interest rates of 6.00% - 7.60%. The first and
                      tingkat suku bunga antara 6,00% - 7,60% dan                     second drawdown amounted to Rp2,375,000 were
                      bersifat tetap. Penarikan pertama dan kedua                     made on 16 November 2022 and 14 March 2023
                      sebesar Rp2.375.000 dilakukan pada tanggal                      with tenor of 3 (three) years. These facilities will
                      16 November 2022 dan 14 Maret 2023 dengan                       mature on 14 November 2025 and 13 March 2026.
                      tenor 3 (tiga) tahun. Fasilitas tersebut jatuh
                      tempo pada tanggal 14 November 2025 dan 13
                      Maret 2026.

                      Pada tanggal 24 Agustus 2023, Entitas Anak                      On August 24 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan Panin                            Tunas Finance) and Panin signed a loan
                      menandatangani perjanjian kredit dengan total                   agreement with a total limit of Rp5,000,000 which
                      limit sebesar Rp5.000.000 yang bersifat                         is non-revolving. The facility matures on 18 June
                      non-revolving. Fasilitas tersebut jatuh tempo                   2024 until 14 April 2026 with interest rate ranging
                      pada tanggal 18 Juni 2024 sampai dengan                         from 6.00% - 7.60%.
                      14 April 2026 dengan tingkat suku bunga berkisar
                      antara 6,00% - 7,60%.

                      Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Panin masing-masing sebesar                       fund borrowings from Panin are amounted to
                      Rp3.993.077 dan Rp3.048.510.                                    Rp3.993.077 and Rp3,048,510, respectively.

                      PT Bank Danamon Indonesia Tbk.                                  PT Bank Danamon Indonesia Tbk.

                      Pada tanggal 26 September 2019, Entitas Anak                    On 26 September 2019, the Subsidiary
                      (PT Mandiri Tunas Finance) mendapat tambahan                    (PT Mandiri Tunas Finance) received an additional
                      fasilitas Working Capital Loan yang bersifat                    revolving Working Capital Loan facility from PT
                      revolving dari PT Bank Danamon Indonesia Tbk.                   Bank Danamon Indonesia Tbk. (“Danamon”) so
                      (“Danamon”) sehingga total keseluruhan fasilitas                that the total Working Capital Loan facility is
                      Working Capital Loan sebesar Rp150.000 dan                      Rp150,000 and matures on 22 January 2021,
                      jatuh tempo pada tanggal 22 Januari 2021,                       additional non-revolving Term Loan facilities of
                      tambahan fasilitas Term Loan yang bersifat non-                 Rp3,500,000 with an interest rate of 6.00% -
                      revolving sebesar Rp3.500.000 dengan suku                       7.60% on drawdown and will mature on
                      bunga 6,00% - 7,60% pada saat penarikan serta                   13 November 2024 and 20 October 2025.
                      jatuh tempo pada tanggal 13 November 2024 dan
                      20 Oktober 2025.

                      Pada tanggal 30 Desember 2019, Entitas Anak                     On 30 December 2019, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh fasilitas                 Utama Finance) obtained Term Loan I and
                      Term Loan I dan Working Capital dari Danamon                    Working Capital facilities from Danamon with a
                      dengan batas maksimum kredit masing-masing                      maximum credit limit of Rp350,000 and
                      sejumlah Rp350.000 dan Rp100.000 dengan                         Rp100,000, respectively, with an interest rate of
                      tingkat suku bunga 9,00% untuk fasilitas Term                   9.00% for the Term Loan facility and indicate
                      Loan dan suku bunga indikasi 8,00% untuk                        interest rate of 8.00% for Working Capital facility.
                      fasilitas Working Capital.


1354 PT Bank Mandiri (Persero) Tbk                                            287
Page 848
     CORPORATE                   ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                  & PRACTICES                     RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

    (f)   Lain-lain (lanjutan)                                      (f)   Others (continued)

          Rupiah (lanjutan)                                               Rupiah (continued)

          PT Bank Danamon Indonesia Tbk. (lanjutan)                       PT Bank Danamon Indonesia Tbk. (continued)

          Jangka waktu penarikan fasilitas Term Loan                      The withdrawal period for the Term Loan facility is
          adalah 12 bulan sejak fasilitas ditandatangani                  12 months from the time the facility is signed and
          dan fasilitas bersifat non-revolving. Sedangkan                 the facility is non-revolving. Meanwhile, for the
          untuk fasilitas Working Capital Loan, jangka                    Working Capital Loan facility, the withdrawal period
          waktu penarikan adalah 12 bulan sejak fasilitas                 is 12 months from the time the facility is signed
          ditandatangani dan fasilitas bersifat revolving.                and the facility is revolving. The withdrawal period
          Jangka waktu penarikan fasilitas Working Capital                for the Working Capital Loan facility has been
          Loan sudah beberapa kali diperpanjang.                          extended several times. Meanwhile, the Term
          Sedangkan fasilitas Term Loan I akan jatuh                      Loan I facility will mature on 12 October 2024. On
          tempo tanggal 12 Oktober 2024. Pada tanggal                     21 December 2022, the Subsidiary extended the
          21 Desember 2022, Entitas Anak melakukan                        Working Capital Facility with a withdrawal period of
          perpanjangan Fasilitas Working Capital dengan                   the facility until 30 August 2023. This facility has
          jangka waktu penarikan fasilitas sampai dengan                  been temporarily extended until 30 September
          tanggal 30 Agustus 2023. Fasilitas ini telah                    2023. Then the Subsidiary on the same date also
          diperpanjang      sementara     sampai       dengan             obtained additional Term Loan and Sharia Term
          30 September 2023. Kemudian Entitas Anak                        Loan facilities a limit of maximum loan amounting
          ditanggal yang sama juga memperoleh tambahan                    to is Rp400,000 and Rp100,000 respectively with
          fasilitas Term Loan dan Term Loan Syariah                       an interest rate of 7.00% - 7.25% for the Term
          dengan batas maksimum kredit masing-masing                      Loan facility, with the withdrawal period for the
          sejumlah Rp400.000 dan Rp100.000 dengan                         Term Loan facility is 12 months from the time the
          tingkat suku bunga 7,00% - 7,25% untuk fasilitas                facility is signed and the facility is non-revolving.
          Term Loan, dengan jangka waktu penarikan                        This facility matures on 13 July 2027.
          fasilitas Term Loan adalah 12 bulan sejak
          fasilitas ditandatangani dan fasilitas bersifat non-
          revolving. Untuk Fasilitas tersebut jatuh tempo
          pada tanggal 13 Juli 2027.

          Pada tanggal 12 Desember 2023, Entitas Anak                     On 12 December 2023, the Subsidiary (Mandiri
          (Mandiri Utama Finance) memperoleh tambahan                     Utama Finance) obtained additional Term Loan
          fasilitas Term Loan dan Term Loan Syariah                       and Sharia Term Loan facilities with maximum
          dengan batas maksimum kredit masing-masing                      loan limits of Rp450,000 and Rp50,000,
          sejumlah Rp450.000 dan Rp50.000 dengan                          respectively, with a fixed interest rate of 7.3% for
          tingkat suku bunga tetap 7,3% untuk fasilitas                   the Term Loan facility. The withdrawal period for
          Term Loan, dengan jangka waktu penarikan                        the Term Loan facility is 12 months from the
          fasilitas Term Loan adalah 12 bulan sejak fasilitas             signing date, and the facility is non-revolving.
          ditanda-tangani dan fasilitas bersifat non-
          revolving.

          Pada tanggal 5 November 2020, Entitas Anak                      On 5 November 2020, the Subsidiary obtained
          memperoleh fasilitas Term Loan II Syariah dari                  Sharia Term Loan II facility from Danamon - Sharia
          Danamon - Unit Usaha Syariah (“UUS”) dengan                     Business Unit (“UUS”) with a maximum credit limit
          batas maksimum kredit sejumlah Rp50.000 dan                     of Rp50,000 and an interest rate of 8.75%. The
          tingkat suku bunga 8,75%. Fasilitas tersebut                    facility will mature on 16 November 2024.
          akan jatuh tempo pada 16 November 2024.

          Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, outstanding
          pinjaman dari Danamon masing-masing sebesar                     fund borrowings from Danamon are amounted to
          Rp1.573.619 dan Rp2.241.928.                                    Rp1.573.619 and Rp2.241.928, respectively.

          Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, outstanding
          pinjaman dari Danamon Syariah masing-masing                     fund borrowings from Danamon Syariah was
          sebesar Rp101.351 dan Rp23.927.                                 amounted      to Rp101,351  and   Rp23,927,
                                                                          respectively.




                                                                  288                                       ANNUAL REPORT 2023    1355
Page 849
            MAIN                             MANAGEMENT                   COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                      PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                           36. FUND BORROWINGS (continued)

                (f)   Lain-lain (lanjutan)                                     (f)   Others (continued)

                      Rupiah (lanjutan)                                              Rupiah (continued)

                      PT Bank Maybank Indonesia Tbk.                                 PT Bank Maybank Indonesia Tbk.

                      Pada tanggal 27 Juli 2022, Entitas Anak                        On 27 July 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh                          Utama Finance) obtained an additional Term Loan
                      tambahan Fasilitas Pinjaman Berjangka III                      III Facility in the amount of Rp350,000 with an
                      sejumlah Rp350.000 dengan tingkat suku bunga                   interest rate of 7.00% and a drawdown period until
                      7,00% dan jangka waktu penarikan sampai                        27 January 2023 with a tenor of 48 months. The
                      dengan tanggal 27 Januari 2023 dengan tenor 48                 Term Loan III facility is hybrid in nature which can
                      bulan. Plafon fasilitas Pinjaman Berjangka III                 be used as a conventional or sharia Working
                      bersifat hybrid yang dapat digunakan sebagai                   Capital Loan. This facility will mature on
                      Kredit Modal Kerja konvensial maupun Syariah.                  29 September 2026.
                      Fasilitas tersebut jatuh tempo pada tanggal
                      29 September 2026.

                      Pada tanggal 18 Oktober 2023, Entitas Anak                     On 18 October 2023, the Subsidiary (PT Mandiri
                      (PT      Mandiri   Utama    Finance)    kembali                Utama Finance) again obtained an additional Term
                      memperoleh tambahan Fasilitas Pinjaman                         Loan Facility IV amounting to Rp500,000 with an
                      Berjangka IV sejumlah Rp500.000 dengan                         indicative interest rate of 7.25% - 7.50% and a
                      indikasi tingkat suku bunga 7,25% - 7,50% dan                  withdrawal period until 18 April 2024, and a tenor
                      jangka waktu penarikan sampai dengan tanggal                   of 48 months. The ceiling of the Term Loan Facility
                      18 April 2024 dan tenor 48 bulan. Adapun plafon                IV is hybrid and can be used for both conventional
                      fasilitas Pinjaman Berjangka IV bersifat hybrid                and Sharia working capital credit.
                      yang dapat digunakan sebagai kredit modal kerja
                      konvensial maupun syariah.

                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Maybank sebesar Rp1.464.831                      fund borrowings from Maybank are amounted to
                      dan Rp568.732.                                                 Rp1,464,831 and Rp568,732 respectively.

                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Maybank Syariah sebesar                          fund borrowings from Maybank Syariah are
                      Rp65.580 dan RpNihil.                                          amounted to Rp65,580 and RpNil respectively.

                      PT Bank Pembangunan Daerah Jawa Barat                          PT Bank Pembangunan Daerah Jawa Barat dan
                      dan Banten Tbk.                                                Banten Tbk.

                      Pada tanggal 23 September 2020, Entitas Anak                   On 23 September 2020, the Subsidiary (PT Bank
                      (PT Bank Mandiri Taspen) memperoleh fasilitas                  Mandiri Taspen) obtained a credit facility from
                      kredit dari PT Bank Pembangunan Daerah Jawa                    PT Bank Pembangunan Daerah Jawa Barat dan
                      Barat dan Banten Tbk. (“BJB”), berupa fasilitas                Banten Tbk. (“BJB”), in the form of Term Loan
                      Term Loan (committed) - non-revolving dengan                   (committed) - non-revolving facility with a
                      jumlah maksimum sebesar Rp500.000 dengan                       maximum amount of Rp500,000 with an interest
                      suku bunga JIBOR 3 bulan + 130bps. Fasilitas                   rate of JIBOR 3 Month + 130bps. This facility is
                      tersebut digunakan untuk membiayai modal kerja                 used to finance the Subsidiary's working capital.
                      Entitas Anak. Fasilitas tersebut jatuh tempo pada              The facility will mature on 25 March 2025.
                      tanggal 25 Maret 2025.

                      Pada tanggal 8 Agustus 2023, Entitas Anak                      On 8 August 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan BJB                             Tunas Finance) and BJB signed a credit
                      menandatangani perjanjian kredit dimana BJB                    agreement whereby BJB provided a General
                      menyediakan fasilitas Kredit Modal Kerja Umum                  Working Capital Loan Facility for Financing
                      Lembaga Pembiayaan dengan total limit sebesar                  Institutions with a total limit of Rp500,000 which is
                      Rp500.000 yang bersifat non-revolving. Fasilitas               non-revolving. The facility will mature in August
                      tersebut jatuh tempo pada bulan Agustus 2026                   2026 with interest rate is a floating rate during the
                      dengan tingkat suku bunga bunga berlaku                        withdrawal period and a fixed rate during the loan
                      floating rate selama masa penarikan dan fixed                  term around 6.00% - 7.60%.
                      rate selama jangka waktu kredit antara 6,00% -
                      7,60%.




1356 PT Bank Mandiri (Persero) Tbk                                           289
Page 850
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                          36. FUND BORROWINGS (continued)
    (f)   Lain-lain (lanjutan)                                    (f)   Others (continued)
          Rupiah (lanjutan)                                             Rupiah (continued)

          PT Bank Pembangunan Daerah Jawa Barat                         PT Bank Pembangunan Daerah Jawa Barat dan
          dan Banten Tbk.                                               Banten Tbk.
          Pada tanggal 31 Desember 2023 dan                             As of 31 December 2023 and 2022, outstanding
          31 Desember 2022, pinjaman dari BJB masing-                   fund borrowings from BJB are amounted to
          masing sebesar Rp1.443.489 dan Rp750.000.                     Rp1,443,489 and Rp750,000 respectively.
          PT Bank China Construction Bank Indonesia                     PT Bank China Construction Bank Indonesia
          Tbk.                                                          Tbk.
          Pada tanggal 22 Februari 2022, Entitas Anak (PT               On 22 February 2022, Subsidiary (PT Mandiri
          Mandiri Utama Finance) dan PT Bank China                      Utama Finance) and PT Bank China Construction
          Construction Bank Indonesia Tbk ("CCBI")                      Bank Indonesia Tbk ("CCBI") signed a
          menandatangani perjanjian fasilitas pinjaman                  non-revolving working capital loan facility
          modal kerja non-revolving dengan batas                        agreement with a maximum loan limit of
          maksimum kredit sejumlah Rp250.000 yang                       Rp250,000 subject to an interest rate of 6.50% per
          dikenakan tingkat suku bunga 6,50% per tahun.                 annum. The term for drawing down the credit
          Jangka waktu penarikan fasilitas kredit adalah                facility is until 22 August 2022 with a maximum
          sampai dengan 22 Agustus 2022 dengan tenor                    loan tenor of 48 months from the date of
          pinjaman maksimal 48 bulan sejak tanggal                      withdrawal on 7 March 2022 amounting to
          penarikan pada tanggal 7 Maret 2022 sebesar                   Rp50,000.
          Rp50.000.

          Pada tanggal 16 Juni 2022, Entitas Anak                       On 16 June 2022, the Subsidiary (PT Mandiri
          (PT Mandiri Tunas Finance) dan CCBI                           Tunas Finance) and CCBI signed a non-revolving
          menandatangani perjanjian kredit sebesar                      credit agreement amounting to Rp430,000. The
          Rp430.000       yang     bersifat   non-revolving.            drawdown were made on 15 July 2022 with a tenor
          Penarikan fasilitas dilakukan pada tanggal 15 Juli            of 3 (three) years and bears the interest rate of
          2022 dengan tenor 3 (tiga) tahun dan dikenakan                6.00% -7.60%. This facility will mature on 15 July
          tingkat suku bunga antara 6,00% - 7,60%.                      2025.
          Fasilitas tersebut jatuh tempo pada tanggal 15
          Juli 2025.
          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, the
          pinjaman dari CCBI masing-masing sebesar                      outstanding fund borrowings from CCBI are
          Rp896.066 dan Rp585.408.                                      amounted to Rp896,066 and Rp585,408,
                                                                        respectively.
          PT Sarana Multigriya Finansial (Persero)                      PT Sarana Multigriya Finansial (Persero)
          Pada tanggal 27 Juli 2023, Entitas Anak                       On 27 July 2023, the Subsidiary (PT Mandiri Tunas
          (PT Mandiri Tunas Finance) dan PT Sarana                      Finance) and PT Sarana Multigriya Finansial
          Multigriya     Finansial   (Persero)      (“SMF”)             (Persero) (“SMF”) signed a credit agreement
          menandatangani perjanjian kredit dimana SMF                   where SMF provided a Refinancing facility with a
          menyediakan fasilitas Refinancing dengan total                total facility of Rp600,000 which is non-revolving
          fasilitas sebesar Rp600.000 yang bersifat non-                and subject to a rate of fixed interest rate of 6.00%
          revolving dan dikenakan tingkat suku bunga tetap              - 7.60%. The facility has a maturity date of 28 July
          sebesar antara 6,00% - 7,60%. Fasilitas tersebut              2026.
          memiliki jatuh tempo pada tanggal 28 Juli 2026.
          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari SMF masing-masing sebesar                       fund borrowings from SMF are amounting to
          Rp716.200 dan RpNihil.                                        Rp716,200 and RpNil, respectively.
          PT Bank DKI                                                   PT Bank DKI
          Pada tanggal 15 Desember 2021, Entitas Anak                   On 15 December 2021, the Subsidiary (PT Mandiri
          (PT Mandiri Tunas Finance) dan PT Bank DKI                    Tunas Finance) and PT Bank DKI (“Bank DKI”)
          (“Bank DKI”) menandatangani perjanjian kredit                 signed a credit agreement where Bank DKI
          dimana Bank DKI menyediakan fasilitas Kredit                  provided an Executing Working Capital Loan
          Modal Kerja Executing - Term Loan dengan total                facility - Term Loan with a total facility of
          fasilitas sebesar Rp500.000 yang bersifat                     Rp500,000 which is non-revolving. These facilities
          non-revolving. Fasilitas tersebut memiliki jatuh              have various maturities and range from December
          tempo yang beragam dan berkisar antara bulan                  2024 to March 2025 with interest rate fixed ranging
          Desember 2024 sampai dengan bulan Maret                       from 6.00% - 7.60%.
          2025 dengan tingkat suku bunga tetap berkisar
          antara 6,00% - 7,60%.



                                                                290                                      ANNUAL REPORT 2023     1357
Page 851
            MAIN                             MANAGEMENT                    COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                       PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

                (f)   Lain-lain (lanjutan)                                      (f)   Others (continued)

                      Rupiah (lanjutan)                                               Rupiah (continued)

                      PT Bank DKI (lanjutan)                                          PT Bank DKI (continued)

                      Pada tanggal 15 Juni 2022, Entitas Anak                         On 15 June 2022, the Subsidiary (PT Bank Mandiri
                      (PT Bank Mandiri Taspen) memperoleh fasilitas                   Taspen) obtained a credit facility from Bank DKI, in
                      kredit dari Bank DKI, berupa fasilitas Term Loan                the form of a Term Loan (committed) - non-
                      (committed) - non-revolving dengan jumlah                       revolving facility with a maximum loan amounting
                      maksimum sebesar Rp500.000. Fasilitas tersebut                  to Rp500,000. This facility is used to finance the
                      digunakan untuk membiayai modal kerja Entitas                   Subsidiary's working capital. This facility has a
                      Anak. Fasilitas ini memiliki jangka waktu selama                term of 24 months with an interest rate of 3 months
                      24 bulan dengan suku bunga JIBOR 3 bulan +                      JIBOR + margin of 0.95% per annum.
                      margin sebesar 0,95% per tahun.

                      Pada tanggal 19 Desember 2023, Entitas Anak                     On 19 Desember 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh fasilitas                 Utama Finance) and PT Bank DKI (Unit Usaha
                      pinjaman Executing dari PT Bank DKI (Unit                       Syariah) (“Bank DKI Syariah”) signed a credit
                      Usaha Syariah) ("Bank DKI Syariah") dengan                      agreement where by Bank DKI Syariah provides
                      batas maksimum kredit sebesar Rp150.000                         an additional Executing Credit facility with a
                      dengan nisbah bagi hasil ditentukan saat                        maximum credit of Rp150,000. The withdrawal
                      penarikan fasilitas. Jangka waktu penarikan                     period for the facility is 36 (thirty six) months from
                      fasilitas tersebut adalah sampai dengan 19 Juni                 the effective date the contract was signed. This
                      2024 dengan tenor pinjaman maksimal 36 (tiga                    facility will mature on 19 Juni 2027.
                      puluh enam) bulan sejak tanggal penarikan.
                      Fasilitas ini akan jatuh tempo pada 19 Juni 2027.

                      Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Bank DKI masing-masing sebesar                    borrowings from Bank DKI are amounted to
                      Rp693.834 dan Rp858.862.                                        Rp693,834 and Rp858,862, respectively.

                      PT Bank CIMB Niaga Tbk.                                         PT Bank CIMB Niaga Tbk.

                      Pada tanggal 19 Februari 2020, Entitas Anak                     On 19 February 2020, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan PT Bank CIMB                     Utama Finance) and PT Bank CIMB Niaga Tbk.
                      Niaga     Tbk.    (“Bank      CIMB      Niaga”)                 (“Bank CIMB Niaga”) signed a loan agreement that
                      menandatangani perjanjian kredit dimana Bank                    Bank CIMB Niaga provides non-revolving Term
                      CIMB Niaga menyediakan fasilitas Term Loan                      Loan facility with total limit up to Rp300,000 with
                      dengan total     maksimum kredit sebesar                        8.25% of fixed interest rate at drawdown. This
                      Rp300.000 yang bersifat non-revolving dan                       facility will mature on February 2023. On 4 March
                      dikenakan tingkat suku bunga tetap sebesar                      2023, the term of non-revolving Term Loan
                      8,25% pada saat penarikan. Fasilitas tersebut                   (committed) facility has been extended again until
                      jatuh tempo pada bulan Februari 2023. Pada                      4 March 2025.
                      tanggal 4 Maret 2023, jangka waktu fasilitas
                      Term Loan (committed) - non-revolving telah
                      diperpanjang kembali hingga 4 Maret 2025.

                      Pada tanggal 29 September 2021 dan terakhir                     On 29 September 2021 and most recently on
                      pada tanggal 20 Desember 2022, Entitas Anak                      20 December 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan Bank CIMB                        Tunas Finance) and Bank CIMB Niaga signed a
                      Niaga menandatangani perjanjian kredit dimana                   loan agreement where Bank CIMB Niaga provided
                      Bank CIMB Niaga menyediakan beberapa                            several Special Transaction Loan facilities with a
                      fasilitas Pinjaman Transaksi Khusus dengan total                total facility of Rp900,000 which is non-revolving
                      fasilitas sebesar Rp900.000 yang bersifat non-                  and is subject to a fixed interest rate of 6.00% -
                      revolving dan dikenakan tingkat suku bunga tetap                7.60% upon withdrawal. These facilities have
                      sebesar antara 6,00% - 7,60%. pada saat                         various maturities and range from March 2025 to
                      penarikan. Fasilitas tersebut memiliki jatuh tempo              March 2026.
                      yang beragam dan berkisar antara bulan Maret
                      2025 sampai dengan Maret 2026.

                      Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Bank CIMB Niaga masing-masing                     fund borrowings from Bank CIMB Niaga are
                      sebesar Rp607.627 dan Rp391.260.                                amounted to Rp607,627 and Rp391,260,
                                                                                      respectively.




1358 PT Bank Mandiri (Persero) Tbk                                            291
Page 852
     CORPORATE                   ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                        Financial
     GOVERNANCE                  & PRACTICES                 RESPONSIBILITY                           KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                        36. FUND BORROWINGS (continued)

    (f)   Lain-lain (lanjutan)                                  (f)   Others (continued)

          Rupiah (lanjutan)                                           Rupiah (continued)

          PT Bank Permata Tbk.                                        PT Bank Permata Tbk.

          Pada tanggal 25 November 2020, Entitas Anak                 On 25 November 2020, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) dan PT Bank                      Utama Finance) and PT Bank Permata Tbk. (“Bank
          Permata Tbk. (“Bank Permata”) kembali                       Permata”) signed an additional credit agreement
          menandatangani tambahan perjanjian kredit                   whereby Bank Permata provides a non-revolving
          dimana Bank Permata menyediakan fasilitas                   Working Capital Credit facility with a maximum
          Kredit Modal Kerja dengan maksimum kredit                   credit limit of Rp250,000 and interest rate of
          sebesar Rp250.000 yang bersifat non-revolving               8.75%. The facility will mature on 14 February
          dengan tingkat suku bunga 8,75%. Fasilitas                  2022. In February 2022, the term of the Term Loan
          tersebut jatuh tempo pada tanggal 14 Februari               facility (committed) - non-revolving has been
          2022. Pada bulan Februari 2022, jangka waktu                extended again until 1 August 2027.
          fasilitas Term Loan (committed) - non-revolving
          telah diperpanjang kembali hingga 1 Agustus
          2027.

          Pada tanggal 16 Juni 2022, Entitas Anak                     On 16 June 2022, the Subsidiary (PT Mandiri
          (PT Mandiri Tunas Finance) dan Bank Permata                 Tunas Finance) and Bank Permata signed loan
          menandatangani perjanjian kredit dimana Bank                agreement which Bank Permata provides a
          Permata menyediakan fasilitas Kredit Modal                  Working Capital Loan facility with a maximum
          Kerja dengan maksimum kredit sebesar                        credit limit of Rp400,000 which is non-revolving
          Rp400.000 yang bersifat non-revolving dengan                with an interest rate of antara 6,00% - 7,60%. This
          tingkat suku bunga antara 6,00% - 7,60%.                    facility will mature on 16 June 2022. On 16 June
          Fasilitas tersebut jatuh tempo pada tanggal                 2022, the term of the Term Loan facility
          16 Juni 2022. Pada tanggal 16 Juni 2022, jangka             (committed) - non-revolving has been extended
          waktu fasilitas Term Loan (committed) - non-                again until 16 June 2025.
          revolving telah diperpanjang kembali hingga
          16 Juni 2025.

          Pada tanggal 31 Desember 2023 dan 2022,                     As of 31 December 2023 and 2022, outstanding
          pinjaman dari Bank Permata masing-masing                    fund borrowings from Bank Permata was
          sebesar Rp568.383 dan Rp683.222.                            amounted to Rp568,383 and Rp683,222,
                                                                      respectively.
          PT Bank Jtrust Indonesia Tbk.                               PT Bank Jtrust Indonesia Tbk.

          Pada tanggal 22 Februari 2022, Entitas Anak                 On 22 February 2022, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) memperoleh                       Utama      Finance)    obtained    an     additional
          tambahan fasilitas Kredit Modal Kerja non-                  non-revolving Working Capital Credit facility from
          revolving dari PT Bank Jtrust Indonesia Tbk.                PT Bank Jtrust Indonesia Tbk. (“Jtrust”) with a
          (“Jtrust”) dengan batas maksimum kredit                     maximum credit limit of Rp200,000 with an interest
          sejumlah Rp200.000 dengan tingkat suku bunga                rate of 7.25% with a maximum loan tenor of 48
          sebesar 7,25% dengan tenor pinjaman maksimal                (fourty eight) months from the date of withdrawal
          48 (empat puluh delapan) bulan sejak tanggal                and the drawdown period for the loan facility is
          penarikan dan jangka waktu penarikan fasilitas              until 22 February 2023. The facility will mature on
          kredit sampai dengan 22 Februari 2023. Fasilitas            8 September 2026.
          tersebut akan jatuh tempo tanggal 8 September
          2026.
          Pada tanggal 31 Januari 2023, Entitas Anak                  On 31 January 2023, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) memperoleh                       Utama Finance) obtained an additional non-
          tambahan fasilitas kredit modal kerja non-                  revolving working capital credit facility with a
          revolving dengan batas maksimum kredit                      maximum credit of Rp200,000 and interest rate of
          sejumlah Rp200.000 dengan tingkat suku bunga                6.85% - 7.00% with a maximum loan tenor of 48
          sebesar 6,85% - 7,00% dengan tenor pinjaman                 (fourty eight) months from the withdrawal date and
          maksimal 48 (empat puluh delapan) bulan sejak               the drawdown period for the loan facility is until
          tanggal penarikan dan jangka waktu penarikan                31 January 2024. This facility will mature on
          fasilitas kredit sampai dengan 31 Januari 2024.             20 March 2027.
          Fasilitas tersebut akan jatuh tempo tanggal 20
          Maret 2027.

          Pada tanggal 31 Desember 2023 dan 2022,                     As of 31 December 2023 and 2022, outstanding
          pinjaman dari Jtrust masing-masing sebesar                  fund borrowing from Jtrust are amounting to
          Rp501.487 dan Rp258.375.                                    Rp501,487 and Rp258,375, respectively.




                                                              292                                      ANNUAL REPORT 2023    1359
Page 853
            MAIN                             MANAGEMENT                   COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                      PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                           36. FUND BORROWINGS (continued)
                (f)   Lain-lain (lanjutan)                                     (f)   Others (continued)
                      Rupiah (lanjutan)                                              Rupiah (continued)

                      PT Bank of India Indonesia, Tbk                                PT Bank of India Indonesia, Tbk
                      Pada tanggal 2 Agustus 2023, Entitas Anak                      On 2 August 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Tunas Finance) dan PT Bank of India                Tunas Finance) and PT Bank of India Indonesia,
                      Indonesia,     Tbk    (“BOII”)   menandatangani                Tbk (“BOII”) signed a loan agreement where BOII
                      perjanjian kredit dimana BOII menyediakan                      provides a Reducing Demand Loan (Executing)
                      fasilitas Demand Loan Menurun (Executing)                      facility with a total facility of Rp500,000 which is
                      dengan total fasilitas sebesar Rp500.000 yang                  non-revolving and bears a fixed interest rate of
                      bersifat non-revolving dan dikenakan tingkat suku              6.00% - 7.60%. The facility will mature on 10
                      bunga tetap sebesar antara 6,00% - 7,60%.                      August 2026.
                      Fasilitas tersebut akan jatuh tempo pada tanggal
                      10 Agustus 2026.
                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, oustanding
                      pinjaman dari BOII sebesar Rp443.487 dan                       fund borrowings are amounted to Rp443,487 and
                      RpNihil.                                                       RpNil, respectively.
                      PT Bank Oke Indonesia Tbk.                                     PT Bank Oke Indonesia
                      Pada tanggal 23 Maret 2022, Entitas Anak                       On 23 March 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) dan PT Bank Oke                     Utama Finance) and PT Bank Oke Indonesia ("OK
                      Indonesia Tbk. ("OK Bank") menandatangani                      Bank") signed a non-revolving working capital loan
                      perjanjian fasilitas pinjaman modal kerja non-                 facility agreement with a maximum Loan limit of
                      revolving dengan batas maksimum kredit                         Rp200,000 which bears an interest rate of 7.00%
                      sejumlah Rp200.000 yang dikenakan tingkat                      per annum. The term for withdrawing the credit
                      suku bunga 7,00% per tahun. Jangka waktu                       facility is up to 23 September 2022 with a
                      penarikan fasilitas kredit adalah sampai dengan                maximum loan tenor of 48 months from the
                      23 September 2022 dengan tenor pinjaman                        drawdown date.
                      maksimal 48 bulan sejak tanggal penarikan.
                      Pada tanggal 23 Maret 2022, Entitas Anak                       On 23 March 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) dan OK Bank                         Utama Finance) and OK Bank signed a non-
                      menandatangani perjanjian fasilitas pinjaman                   revolving working capital loan facility agreement
                      modal kerja non-revolving dengan batas                         with a maximum credit limit of Rp200,000 which
                      maksimum kredit sejumlah Rp200.000 yang                        bears an interest rate of 7.00% per annum. The
                      dikenakan tingkat suku bunga 7,00% per tahun.                  term for withdrawing the credit facility is up to
                      Jangka waktu penarikan fasilitas kredit adalah                 22 December 2022 with a maximum loan tenor of
                      sampai dengan 22 Desember 2022 dengan tenor                    48 (fourty eight) months from the drawdown date.
                      pinjaman maksimal 48 (empat puluh delapan)                     The facility will mature on 7 October 2026.
                      bulan sejak tanggal penarikan. Fasilitas tersebut
                      akan jatuh tempo tanggal 7 Oktober 2026.

                      Pada tanggal 6 Juni 2022, Entitas Anak (PT                     On 6 June 2022, the Subsidiary (PT Mandiri
                      Mandiri Tunas Finance) dan OK Bank                             Tunas Finance) and OK Bank signed a non-
                      menandatangani perjanjian fasilitas Pinjaman                   revolving Installment Working Capital Loan facility
                      Modal Kerja Installment non-revolving dengan                   agreement with a maximum credit limit of
                      batas maksimum kredit sejumlah Rp500.000.                      Rp500,000. The facility will mature on 15 June
                      Fasilitas tersebut akan jatuh tempo tanggal                    2025 with interest rate of 6.00% - 7.60%
                      15 Juni 2025 dengan tingkat suku bunga antara
                      6,00% - 7,60%.
                      Pada tanggal 31 Desember 2023 dan 2022,                        As of 31 December 2023 and 2022, the
                      pinjaman dari OK Bank masing-masing sebesar                    outstanding fund borrowing from PT Bank Oke
                      Rp388.874 dan Rp599.577.                                       Indonesia are amounted to Rp388,874 and
                                                                                     Rp599,577, respectively.
                      PT Bank Panin Dubai Syariah Tbk.                               PT Bank Panin Dubai Syariah Tbk.
                      Pada tanggal 27 Oktober 2022, Entitas Anak                     On 27 October 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh fasilitas                Utama Finance) obtained Excecuting loan facility
                      pinjaman Executing dari PT Bank Panin Dubai                    from PT Panin Dubai Syariah Tbk ("PDS") with a
                      Syariah Tbk ("PDS") dengan batas maksimum                      maximum credit limit of Rp450,000, which bears
                      kredit sebesar Rp450.000 dengan nisbah bagi                    profit sharing rate of 7%. The term for drawdown
                      hasil ditentukan saat penarikan fasilitas sekitar              the credit facility is up to 31 October 2023 with a
                      7%. Jangka waktu penarikan fasilitas tersebut                  maximum loan tenor of 48 months from the
                      adalah sampai dengan 31 Oktober 2023 dengan                    drawdown date. This facility will mature in 9 June
                      tenor pinjaman maksimal 48 bulan sejak tanggal                 2027.
                      penarikan. Fasilitas tersebut akan jatuh tempo
                      tanggal 9 Juni 2027.



1360 PT Bank Mandiri (Persero) Tbk                                           293
Page 854
     CORPORATE                   ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                        Financial
     GOVERNANCE                  & PRACTICES                  RESPONSIBILITY                          KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                         36. FUND BORROWINGS (continued)
    (f)   Lain-lain (lanjutan)                                   (f)   Others (continued)
          Rupiah (lanjutan)                                            Rupiah (continued)
          PT Bank Panin Dubai Syariah Tbk. (lanjutan)                  PT Bank Panin Dubai Syariah Tbk. (continued)
          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari PDS masing-masing sebesar                      fund borrowing from PDS are amounted to
          Rp373.487 dan Rp96.844.                                      Rp373,487 and Rp96,844, respectively.
          PT Bank QNB Indonesia Tbk.                                   PT Bank QNB Indonesia Tbk.
          Pada tanggal 4 Oktober 2019, Entitas Anak (PT                On 4 October 2019, the Subsidiary (PT Mandiri
          Mandiri Tunas Finance) dan PT Bank QNB                       Tunas Finance) and PT Bank QNB Indonesia Tbk.
          Indonesia     Tbk.    (“QNB”)    menandatangani              (“QNB”) signed a loan agreement which Bank QNB
          perjanjian kredit dimana QNB menyediakan                     provides Fixed Loan facility with total limit
          fasilitas Fixed Loan Facility dengan total                   amounting to Rp500,000 which is non-revolving
          maksimum kredit sebesar Rp500.000 yang                       and bears a fixed market interest rate of 7.80% at
          bersifat non-revolving dan dikenakan tingkat suku            the withdrawal date. This facility will mature on
          bunga tetap sebesar 7,80% pada saat penarikan.               12 March 2023. On 12 March 2023, the term of
          Fasilitas tersebut akan jatuh tempo pada                     Term Loan (committed) - non-revolving has been
          12 Maret 2023. Pada tanggal 12 Maret 2023,                   extended again until 20 December 2024.
          jangka waktu fasilitas Term Loan (committed) -
          non-revolving telah diperpanjang kembali hingga
          20 Desember 2024.
          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari QNB masing-masing sebesar                      fund borrowings from QNB are amounting to
          Rp366.008 dan Rp241.323.                                     Rp366,008 and Rp241,323, respectively.

          PT Bank UOB Indonesia                                        PT Bank UOB Indonesia

          Pada tanggal 23 November 2021, Entitas anak                  On 23 November 2021, the subsidiary (PT Mandiri
          (PT Mandiri Tunas Finance) dan PT Bank UOB                   Tunas Finance) and PT Bank UOB Indonesia
          Indonesia (“Bank UOB”) menandatangani                        (“Bank UOB”) signed a credit agreement whereby
          perjanjian kredit dimana Bank UOB menyediakan                Bank UOB provides a Term Loan Sublimit Credit
          fasilitas Term Loan Sublimit Credit Revolving                facility revolving with a limit value of Rp600,000
          dengan total maksimum kredit sebesar                         which is uncommitted with fixed interest rate of
          Rp600.000 yang bersifat uncommitted dengan                   6.14% at the time of withdrawal. This facility will
          tingkat suku bunga tetap sebesar 6,14% pada                  mature on 21 November 2022. On 27 May 2022,
          saat penarikan. Fasilitas tersebut akan jatuh                the term of Term Loan Sublimit Credit Revolving
          tempo pada 21 November 2022. Pada tanggal                    facility has been extended until 21 November
          27 Mei 2022, jangka waktu fasilitas Term Loan                2023.
          Sublimit Credit Revolving telah diperpanjang
          kembali hingga 21 November 2023.

          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari Bank UOB masing-masing sebesar                 fund borrowings from Bank UOB are amounting to
          Rp337.082 dan Rp569.683.                                     Rp337,082 and Rp569,683, respectively.

          PT Bank KEB Hana Indonesia                                   PT Bank KEB Hana Indonesia

          Pada tanggal 19 Maret 2015 dan terakhir pada                 On 19 March 2015 and most recently on
          tanggal 3 September 2018, Entitas Anak                       3 September 2018, the Subsidiary (PT Mandiri
          (PT Mandiri Tunas Finance) dan PT Bank KEB                   Tunas Finance) and PT Bank KEB Hana Indonesia
          Hana Indonesia (“Bank Hana”) menandatangani                  (“Bank Hana”) signed a loan agreement where
          perjanjian   kredit   dimana     Bank     Hana               Bank Hana provided several Term Loan facilities
          menyediakan beberapa fasilitas Term Loan                     with a total maximum facility of Rp400,000 which is
          dengan total maksimum fasilitas sebesar                      non-revolving and bears a fixed interest rate of
          Rp400.000 yang bersifat non-revolving dan                    9.50%. This facility has a maturity date of
          dikenakan tingkat suku bunga tetap sebesar                   19 February 2022. On 20 December 2022, the
          9,50%. Fasilitas tersebut memiliki jatuh tempo               maturity of the Term Loan (committed) - non-
          pada tanggal 19 Februari 2022. Pada tanggal 20               revolving facility has been extended to
          Desember 2022, jangka waktu fasilitas Term                   24 December 2024.
          Loan     (committed)   -  non-revolving    telah
          diperpanjang kembali hingga 24 Desember 2024.



                                                               294                                     ANNUAL REPORT 2023    1361
Page 855
            MAIN                             MANAGEMENT                     COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                        PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                             36. FUND BORROWINGS (continued)
                (f)   Lain-lain (lanjutan)                                       (f)   Others (continued)
                      Rupiah (lanjutan)                                                Rupiah (continued)
                      PT Bank KEB Hana Indonesia (lanjutan)                            PT Bank KEB Hana Indonesia (continued)
                      Pada tanggal 21 Agustus 2019, Entitas Anak                       On 21 August 2019, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) dan Bank Hana                         Utama Finance) and Bank Hana signed a credit
                      menandatangani perjanjian kredit dimana Bank                     agreement where Bank Hana provided additional
                      Hana memberikan tambahan fasilitas Kredit                        Working Capital Credit facilities with a maximum
                      Modal Kerja dengan maksimum fasilitas sebesar                    limit of Rp100,000 which is non-revolving with an
                      Rp100.000 yang bersifat non-revolving dengan                     interest rate of 9.50%. This facility will mature on
                      tingkat suku bunga 9,50%. Fasilitas tersebut                     January 2023.
                      telah jatuh tempo pada bulan Januari 2023.
                      Pada tanggal 29 Mei 2023, Entitas Anak                           On 29 May 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) dan Bank Hana                         Utama Finance) and Bank Hana signed a new loan
                      menandatangani perjanjian kredit baru di mana                    agreement in which Bank Hana provides a
                      Bank Hana menyediakan fasilitas Kredit Modal                     Working Capital Loan Facility with a maximum
                      Kerja dengan maksimum kredit sebesar                             credit limit of Rp200,000 which is non-revolving
                      Rp200.000 yang bersifat non-revolving dengan                     and with interest rate of 7.25%. This facility will
                      tingkat suku bunga 7,25%. Fasilitas tersebut                     mature on 20 June 2027.
                      akan jatuh tempo pada tanggal 20 Juni 2027.
                      Pada tanggal 31 Desember 2023 dan 2022,                          As of 31 December 2023 and 2022, outstanding
                      pinjaman dari Bank Hana masing-masing                            fund borrowings from Bank Hana are amounted to
                      sebesar Rp279.783 dan Rp207.400.                                 Rp279,783 and Rp207,400, respectively.

                      PT Bank BTPN Tbk.                                                PT Bank BTPN Tbk.
                      Pada tahun 2022, Entitas Anak (PT Mandiri                        on 2022, the Subsidiary (PT Mandiri Sekuritas) has
                      Sekuritas) telah menandatangani Perjanjian                       signed a Credit Agreement with PT Bank BTPN
                      Kredit dengan PT Bank BTPN Tbk (“Bank                            Tbk (“Bank BTPN”). Bank BTPN provides loan on
                      BTPN”). Bank BTPN memberikan fasilitas Loan                      Note facility of Rp225,000 or the equivalent in USD
                      on Note sebesar Rp225.000 atau setara dalam                      currency with a maximum USD currency of 90% of
                      mata uang USD dengan maksimum valuta USD                         the limit and a Bank Guarantee of Rp100,000. The
                      sebesar 90% dari limit dan Bank Garansi sebesar                  maximum combined value limit for Loan on Note
                      Rp100.000. Adapun batas nilai gabungan                           and Bank Guarantee facilities is Rp225,000 with
                      maksimum atas fasilitas Loan on Note dan Bank                    interest rate of 5.95%. This facility is valid until
                      Garansi adalah sebesar Rp225.000 dengan                          29 December 2023 and currently in the process of
                      tingkat suku bunga sebesar 5,95%. Fasilitas ini                  extension.
                      berlaku sampai dengan 29 Desember 2023 dan
                      saat ini dalam proses perpanjangan.
                      Pada tanggal 24 Mei 2021 dan terakhir                            On 24 May 2021, and last extended on 24 May
                      diperpanjang pada tanggal 24 Mei 2023, Entitas                   2023, the Subsidiary (PT Mandiri Tunas Finance)
                      Anak (PT Mandiri Tunas Finance) mendapat                         obtained a revolving Loan on Note facility from
                      fasilitas Loan on Note yang bersifat revolving dari              ("BTPN") with a total facility amount of Rp300,000.
                      PT Bank BTPN Tbk (“BTPN”) sehingga total                         The first withdrawal was made on 28 April 2023.
                      keseluruhan fasilitas Loan on Note sebesar                       The facility has been extended until 30 April 2024.
                      Rp300.000. penarikan pertama dilakukan pada
                      tanggal 28 April 2023. Fasilitas tersebut
                      diperpanjang sampai dengan tanggal 30 April
                      2024.
                      Pada tanggal 31 Desember 2023 dan 2022,                          As of 31 December 2023 and 2022, oustanding
                      pinjaman dari Bank BTPN masing-masing                            fund borrowings from Bank BTPN are Rp250,000
                      sebesar Rp250.000 dan RpNihil.                                   and RpNil, respectively.
                      PT Bank BCA Syariah                                              PT Bank BCA Syariah
                      Pada tanggal 18 November 2020, Entitas Anak                      On 18 November 2020, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh                            Utama Finance) obtained an additional Working
                      tambahan fasilitas pinjaman Kredit Modal Kerja                   Capital Loan facility so the total credit limit
                      sehingga total plafon yang diterima dari                         amounted to Rp200,000 with an interest rate of
                      PT Bank BCA Syariah adalah sebesar                               9.00% that received from PT Bank BCA Syariah.
                      Rp200.000 dengan tingkat suku bunga 9,00%.                       The facility will mature on May 2024.
                      Fasilitas tersebut akan jatuh tempo pada bulan
                      Mei 2024.




1362 PT Bank Mandiri (Persero) Tbk                                             295
Page 856
     CORPORATE                   ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                         Financial
     GOVERNANCE                  & PRACTICES                  RESPONSIBILITY                           KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                         36. FUND BORROWINGS (continued)
    (f)   Lain-lain (lanjutan)                                   (f)   Others (continued)
          Rupiah (lanjutan)                                            Rupiah (continued)

          PT Bank BCA Syariah (lanjutan)                               PT Bank BCA Syariah (continued)

          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari PT Bank BCA Syariah masing-                    fund borrowings from PT Bank BCA Syariah are
          masing sebesar Rp224.711 dan Rp234.745.                      amounting to Rp224,711 and Rp234,745,
                                                                       respectively.

          PT Bank Mega Tbk.                                            PT Bank Mega Tbk.

          Pada tanggal 25 Februari 2021, Entitas Anak                  On 25 February 2021, the Subsidiary (PT Mandiri
          (PT Mandiri Utama Finance) dan PT Bank Mega                  Utama Finance) and PT Bank Mega Tbk. (“Bank
          Tbk. (“Bank Mega”) menandatangani perjanjian                 Mega”) signed a credit agreement whereby Bank
          kredit dimana Bank Mega menyediakan fasilitas                Mega provides a non-revolving Working Capital
          Kredit Modal Kerja dengan maksimum kredit                    Credit facility with a maximum credit of
          sebesar Rp1.000.000 yang bersifat non-revolving              Rp1,000,000 and bears an interest rate of 8.75%.
          dan dikenakan tingkat suku bunga 8,75%.                      The facility will mature on 25 February 2025.
          Fasilitas tersebut akan jatuh tempo pada tanggal
          25 Februari 2025.

          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari Bank Mega masing-masing                        fund borrowings from Bank Mega are amounted to
          sebesar Rp216.461 dan Rp378.577.                             Rp216,461 and Rp378,577, respectively.

          PT Bank BPD Daerah Istimewa Yogyakarta                       PT Bank BPD Daerah Istimewa Yogyakarta

          Pada tanggal 15 Desember 2022, Entitas Anak                  On 15 December 2022, the Subsidiary (PT Mandiri
          (PT      Mandiri     Utama      Finance)      dan            Utama Finance) and PT Bank BPD Daerah
          PT Bank BPD Daerah Istimewa Yogyakarta                       Istimewa Yogyakarta (“Bank BPD DIY”) signed a
          (“Bank BPD DIY”) menandatangani perjanjian                   credit agreement whereby Bank BPD DIY provides
          kredit dimana Bank BPD DIY menyediakan                       an additional Working Capital Credit facility with a
          tambahan fasilitas Kredit Modal Kerja dengan                 maximum credit of Rp100,000, which is non-
          maksimum kredit sebesar Rp100.000, yang                      revolving with interest rate of 6.80% upon
          bersifat non-revolving dan dikenakan tingkat suku            withdrawal. The withdrawal period for the facility is
          bunga 6,80% pada saat penarikan. Jangka waktu                36 (thirty six) months from the effective date the
          penarikan fasilitas adalah 36 (tiga puluh enam)              contract was signed. This facility will mature on
          bulan terhitung sejak tanggal efektif kontrak                15 December 2025.
          tersebut ditandatangani. Fasilitas ini akan jatuh
          tempo pada tanggal 15 Desember 2025.

          Pada tanggal 31 Desember 2023 dan 2022,                      As of 31 December 2023 and 2022, outstanding
          pinjaman dari Bank BPD DIY masing-masing                     fund borrowings from Bank BPD DIY was
          sebesar Rp159.458 dan Rp99.730.                              amounted      to Rp159,458  and   Rp99,730,
                                                                       respectively.

          PT Bank Muamalat Indonesia Tbk                               PT Bank Muamalat Indonesia Tbk

          Pada tanggal 29 September 2023, Entitas Anak                 On 29 September 2023, the Subsidiary
          (PT Mandiri Utama Finance) memperoleh fasilitas              (PT Mandiri Utama Finance) and PT Bank
          pinjaman Executing dari PT Bank Muamalat                     Muamalat Indonesia Tbk (“Bank Muamalat”)
          Indonesia Tbk ("Bank Muamalat") dengan batas                 signed a credit agreement where by Bank
          maksimum kredit sebesar Rp600.000 dengan                     Mualamat provides an additional Executing Credit
          nisbah bagi hasil ditentukan saat penarikan                  facility with a maximum credit of Rp600,000. The
          fasilitas. Jangka waktu penarikan fasilitas                  withdrawal period for the facility              until
          tersebut adalah sampai dengan 29 September                   29 September        2024      with     tenor       of
          2024 dengan tenor pinjaman maksimal 48 (empat                48 (fourty eight) months from the effective date the
          puluh delapan) bulan sejak tanggal penarikan.                contract was signed. This facility will mature on
          Fasilitas ini akan jatuh tempo pada tanggal                  29 September 2028.
          29 September 2028.




                                                               296                                      ANNUAL REPORT 2023     1363
Page 857
            MAIN                             MANAGEMENT                    COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                       PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            36. PINJAMAN YANG DITERIMA (lanjutan)                            36. FUND BORROWINGS (continued)

                (f)   Lain-lain (lanjutan)                                      (f)   Others (continued)

                      Rupiah (lanjutan)                                               Rupiah (continued)

                      PT Bank Victoria International Tbk.                             PT Bank Victoria International Tbk.

                      Pada tanggal 23 Juni 2021, Entitas Anak                         On 23 June 2021, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) memperoleh fasilitas                 Utama Finance) obtained a Money Market Line
                      pinjaman Money Market Line dari PT Bank                         loan facility from PT Bank Victoria Internasional
                      Victoria Internasional Tbk. ("Bank Victoria")                   Tbk ("Bank Victoria") with a maximum credit limit of
                      dengan batas maksimum kredit sejumlah                           Rp250,000 with an interest rate following market
                      Rp250.000 dengan tingkat suku bunga mengikuti                   interest rates that applicable. This facility matures
                      suku bunga pasar yang berlaku. Fasilitas ini jatuh              on 23 June 2022. The Money Market Line facility
                      tempo pada 23 Juni 2022. Atas fasilitas Money                   which has matured has been added to, so that the
                      Market Line yang jatuh tempo tersebut telah di                  maturity becomes 23 June 2023 with a reduction in
                      addendum, sehingga jatuh temponya menjadi 23                    the maximum credit limit to Rp150,000 with an
                      Juni 2023 dengan penurunan batas maksimum                       interest rate following the prevailing market interest
                      kredit menjadi sejumlah Rp150.000 yang                          rate around 5.50% - 6.66%.
                      mempunyai tingkat suku bunga mengikuti suku
                      bunga pasar yang berlaku sekitar 5,50% - 6,66%.

                      Pada tanggal 20 Juli 2023, Entitas Anak                         On 20 July 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Utama Finance) menandatangani                       Utama Finance) signed an extension of the Money
                      perpanjangan fasilitas pinjaman Money Market                    Market Line loan facility from Bank Victoria, so that
                      Line dari Bank Victoria, sehingga jatuh tempo                   the maturity of the facility becomes 24 June 2024
                      fasilitasnya menjadi 24 Juni 2024 dengan tingkat                with interest rates following the prevailing interest
                      suku bunga mengikuti tingkat suku bunga yang                    rates. This facility will mature on 24 June 2024.
                      berlaku. Pinjaman tersebut akan jatuh tempo
                      pada tanggal 24 Juni 2024.

                      Pada tanggal 16 Agustus 2022, Entitas Anak                      On 16 August 2022, the Subsidiary (PT Mandiri
                      (PT Mandiri Sekuritas) telah menandatangani                     Sekuritas) signed amendments to the credit facility
                      perubahan terhadap perjanjian fasilitas kredit                  agreement with Bank Victoria. Bank Victoria
                      dengan Bank Victoria. Bank Victoria memberikan                  provides Money Market Line facilities and/or
                      fasilitas Money Market Line dan/atau Pinjaman                   Subordinated Loans amounting to Rp250,000. This
                      Subordinasi sebesar Rp250.000. Perjanjian ini                   agreement has been extended and will mature on
                      sudah diperpanjang dan akan berakhir pada                       26 June 2024. The interest rate on the applicable
                      26 Juni 2024. Tingkat suku bunga atas fasilitas                 facilities is negotiated per transaction or around
                      yang berlaku bersifat negosiasi per transaksi atau              6.10% in August 2023.
                      sekitar 6,10% di bulan Agustus 2023.

                      Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, oustanding
                      pinjaman dari Bank Victoria masing-masing                       fund borrowings from Bank Victoria are Rp49,994
                      sebesar Rp49.994 dan RpNihil.                                   and RpNil, respectively.

                      PT Bank Jago Tbk.                                               PT Bank Jago Tbk.

                      Pada tanggal 28 Agustus 2023, Entitas Anak                      On 28 August 2023, the Subsidiary (PT Mandiri
                      (PT Mandiri Sekuritas) telah menandatangani                     Sekuritas) has signed a credit facility extension
                      perjanjian perpanjangan fasilitas kredit dengan                 agreement with PT Bank Jago Tbk. ("Bank Jago")
                      PT Bank Jago (“Bank Jago”) dimana fasilitas                     where the facility provided will mature on 17 July
                      yang diberikan akan berakhir tanggal 17 Juli                    2024. The facility provided by Bank Jago is a Term
                      2024. Fasilitas yang diberikan Bank Jago yaitu                  Promissory Loan amounting to Rp175,000. The
                      Pinjaman Promes Berjangka sebesar Rp175.000.                    interest rate is fixed during the loan withdrawal
                      Besaran bunga adalah tetap selama periode                       period or around 5.8%, according to the market
                      penarikan pinjaman atau berkisar 5,8%, sesuai                   interest rate in effect at the time of the term
                      suku bunga pasar yang berlaku pada saat                         promissory loan withdrawal. This loan will mature
                      penarikan pinjaman promes berjangka. Pinjaman                   on 2 January 2024.
                      ini akan jatuh tempo pada 2 Januari 2024.

                      Pada tanggal 31 Desember 2023 dan 2022,                         As of 31 December 2023 and 2022, oustanding
                      pinjaman dari Bank Jago masing-masing sebesar                   fund borrowings from Bank Jago are Rp49,875 and
                      Rp49.875 dan RpNihil.                                           RpNil, respectively.


1364 PT Bank Mandiri (Persero) Tbk                                            297
Page 858
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                          Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                           KEUANGAN   2023
                                                                                                          Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


36. PINJAMAN YANG DITERIMA (lanjutan)                          36. FUND BORROWINGS (continued)

    (f)   Lain-lain (lanjutan)                                    (f)   Others (continued)

          Mata uang asing                                               Foreign currencies

          PT Bank Mizuho Indonesia                                      PT Bank Mizuho Indonesia

          Pada tanggal 08 April 2022, Entitas Anak (PT                  On 8 April 2022, the Subsidiary (PT Mandiri Tunas
          Mandiri Tunas Finance) dan PT Bank Mizuho                     Finance) and PT Bank Mizuho Indonesia
          Indonesia (“Mizuho”) menandatangani perjanjian                (“Mizuho”) signed a loan agreement amounting to
          kredit sebesar USD50.000.000 (nilai penuh) yang               Rp50,000,000 (full amount) which is non-revolving
          bersifat   non-revolving.   Penarikan   fasilitas             facility. The drawdown loan facility was made on
          dilakukan pada tanggal 13 Februari 2023 dengan                13      February   2023    with     a   tenor    of
          tenor 3 (tiga) tahun dan dikenakan tingkat suku               3 (three) years and bears a fixed interest rate of
          bunga tetap 6,98% dengan lindung nilai penuh.                 6.98% which fully hedged. This facility will mature
          Fasilitas tersebut jatuh tempo pada tanggal                   on 13 February 2026.
          13 Februari 2026.

          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari Mizuho masing-masing sebesar                    fund borrowings from Mizuho was amounted to
          Rp577.302 dan RpNihil.                                        Rp577,302 and RpNil, respectively.

          MUFG Bank, Ltd., Singapura                                    MUFG Bank, Ltd., Singapore

          Pada tanggal 13 April 2022, Entitas Anak                      On 13 April 2022, Subsidiary (PT Mandiri Tunas
          (PT Mandiri Tunas Finance) dan MUFG Bank                      Finance) and MUFG Bank Ltd., Singapore
          Ltd., (“MUFG”) menandatangani perjanjian                      (“MUFG”) signed a loan agreement whereby
          pinjaman dimana MUFG menyediakan fasilitas                    MUFG provides an Uncommitted Long-Term
          Uncommitted Long-Term Loan/Money Market                       Loan/Money Market Line facility with a total limit of
          Line dengan total maksimum kredit sebesar                     Rp409,459 which is revolving and bears a fixed
          Rp409.459 yang bersifat revolving dan dikenakan               interest rate of USD-SOFR1.08%-1.20% year upon
          tingkat suku bunga tetap sebesar USD-                         drawdown. This facility will matures on 11 April
          SOFR+1,08%-1,20% per tahun pada saat                          2025.
          penarikan. Fasilitas tersebut jatuh tempo pada
          tanggal 11 April 2025.

          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari MUFG masing-masing sebesar                      fund borrowings from MUFG was amounted to
          Rp219.678 dan Rp373.611.                                      Rp219,678 and Rp373,611, respectively.

          PT Bank Maybank Indonesia Tbk.                                PT Bank Maybank Indonesia Tbk.

          Pada tanggal 29 Agustus 2022, Entitas Anak                    On 29 August 2022, the Subsidiary (PT Bank
          (PT Bank Syariah Indonesia Tbk.) mendapatkan                  Syariah Indonesia Tbk.) obtained an iB
          fasilitas line pembiayaan mudharabah iB sebesar               mudharabah financing line facility amounting to
          USD100.000.000 (nilai penuh) dari PT Bank                     USD100,000,000 (full amount) from PT Bank
          Maybank Indonesia Tbk. (“Maybank”). Entitas                   Maybank Indonesia Tbk. (“Maybank”). The
          Anak telah melakukan penarikan sebesar                        Subsidiary     has    made      a     withdrawal of
          USD50.000.000 (nilai penuh) pada tanggal 30                   USD50,000,000 (full amount) on 30 August 2022.
          Agustus 2022. Pembiayaan mudharabah jatuh                     The      mudharabah      financing       matures on
          tempo pada tanggal 30 September 2023. Pada                    30 September 2023. On 27 December 2023, the
          tanggal 27 Desember 2023 Entitas Anak                         Subsidiary made a withdrawal of Rp776,250 with a
          melakukan        penarikan      kembali sebesar               profit-sharing ratio of 0.40% - 99.60%, and this
          Rp776.250 dengan nisbah bagi hasil sebesar                    facility will mature on 26 January 2024.
          0,40% - 99,60% dan jatuh tempo pada tanggal 26                No collateral is pledged for this facility.
          Januari 2024. Tidak terdapat agunan yang
          dijaminkan untuk fasilitas ini.

          Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, outstanding
          pinjaman dari Maybank masing-masing sebesar                   fund borrowings from Maybank amounted to RpNil
          RpNihil (original currency USDNihil (nilai penuh))            (original currency USDNil (full amount)) and
          dan       Rp778.375        (original      currency            Rp778,375 (original currency USD50,000,000 (full
          USD50.000.000 (nilai penuh)).                                 amount), respectively.




                                                                298                                      ANNUAL REPORT 2023     1365
Page 859
            MAIN                             MANAGEMENT                      COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                         PROFILE                         ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)

            36. PINJAMAN YANG DITERIMA (lanjutan)                              36. FUND BORROWINGS (continued)

                (f)   Lain-lain (lanjutan)                                        (f)   Others (continued)

                      Mata uang asing (lanjutan)                                        Foreign currencies (continued)

                      The Development Bank of Singapore Limited                         The Development Bank of Singapore Limited
                      Pada tanggal 6 Maret 2019, Entitas Anak                           On 6 March 2019, the Subsidiary (PT Mandiri
                      (PT Mandiri Sekuritas) dan The Development                        Sekuritas) and The Development Bank of
                      Bank     of     Singapore       Limited      (“DBS”)              Singapore Limited (“DBS”) signed a Working
                      menandatangani perjanjian Kredit Modal Kerja
                      sebesar USD5.000.000 (nilai penuh) dengan                         Capital Loan facility agreement amounting to
                      bunga tetap sebesar 3,24% dan 3,14% pada saat                     USD5,000,000 (full amount) and bears fixed
                      periode penarikan kredit. Fasilitas ini ditarik pada              interest rate of 3.24% and 3.14% at withdrawals.
                      bulan Desember 2019 dan tidak memiliki jatuh                      This facility has withdrawn on December 2019 and
                      tempo, dimana fasilitas tersebut akan berlaku                     have no maturity date which the facility will mature
                      hingga pihak Entitas Anak atau DBS menyatakan
                      berakhirnya fasilitas tersebut.                                   when the Subsidiary or DBS decided to terminate
                                                                                        the agreement.
                      Pada tanggal 20 Maret 2020, Entitas Anak                          On 20 March 2020, the Subsidiary (PT Mandiri
                       (PT     Mandiri     Sekuritas) dan      DBS                      Sekuritas) and DBS signed an additional Working
                      menandatangani penambahan fasilitas perjanjian                    Capital Loan facility amounted to USD7,500,000
                      Kredit Modal Kerja sebesar USD7.500.000 (nilai                    (full amount) with fixed interest rate of 3.24% at the
                      penuh) dengan bunga tetap sebesar 3,24% pada                      loan drawdown period.
                      saat periode penarikan kredit.
                      Pada tanggal 31 Desember 2023 dan 2022,                           As of 31 December 2023 and 2022, outstanding
                      pinjaman dari DBS masing-masing sebesar                           fund borrowings from DBS amounted to RpNil and
                      ekuivalen RpNihil dan Rp48.766.                                   Rp48,766, respectively.

                      Pinjaman yang diterima oleh PT Mandiri Tunas                      Fund borrowings from PT Mandiri Tunas Finance
                      Finance dan PT Mandiri Utama Finance dijamin                      and PT Mandiri Utama Finance are secured by
                      dengan piutang pembiayaan konsumen sejumlah                       consumer financing receivables amounting to
                      Rp17.688.988 pada tanggal 31 Desember 2023                        Rp17,688,988 as of 31 December 2023
                      (31 Desember 2022: Rp13.515.545) (Catatan                         (31 December 2022: Rp13,515,545) (Note 13g)
                      13g) dan investasi bersih dalam sewa                              and net investment in finance leases amounted to
                      pembiayaan sejumlah Rp874.067 pada tanggal                        Rp874,067     as    of    31   December    2023
                      31 Desember 2023 (31 Desember 2022:                               (31 December 2022: Rp1,681,888) (Note 14g).
                      Rp1.681.888) (Catatan 14g).

                      Fasilitas pinjaman dari beberapa bank dan bank                    The loan facilities from several banks and
                      sindikasi tersebut mensyaratkan Entitas Anak                      syndication banks require Subsidiaries to provide
                      untuk memberikan pemberitahuan tertulis dalam                     written notices in terms of dividend distribution,
                      hal pembagian dividen, perubahan modal dan                        changes in capital and shareholders, changes in
                      pemegang saham, perubahan susunan direksi                         the composition of the board of directors and
                      dan komisaris, perubahan bisnis utama, investasi                  commissioners, changes in the main business,
                      dan perolehan pinjaman baru dari bank lain.                       investments and obtaining new loans from other
                                                                                        banks.

                      Dalam perjanjian pinjaman tersebut, Entitas Anak                  In the loan agreement, the Subsidiaries are also
                      juga diwajibkan untuk memenuhi persyaratan                        required to meet financial requirements such as
                      keuangan seperti rasio jumlah utang bunga                         the ratio of total debt to equity not exceeding a
                      terhadap ekuitas tidak melebihi rasio 10:1 dan                    ratio of 10:1 and other reporting obligations.
                      kewajiban penyampaian laporan lainnya.

                      Bank Mandiri dan Entitas Anak telah melakukan                     Bank Mandiri and its Subsidiaries have made
                      pembayaran bunga pinjaman yang diterima                           interest payments on fund borrowings according to
                      sesuai dengan jadwal pembayaran bunga selama                      the interest payment schedule for the year ended
                      tahun yang berakhir tanggal 31 Desember 2023                      31 December 2023 and 2022.
                      dan 2022.

                      Selama     tahun     yang  berakhir tanggal                       During the year ended 31 December 2023 and
                      31 Desember 2023 dan 2022, Bank Mandiri dan                       2022, Bank Mandiri and its Subsidiaries have
                      Entitas Anak telah memenuhi kondisi dan                           complied with the terms and conditions set forth in
                      persyaratan yang ditetapkan dalam perjanjian                      the fund borrowings agreement.
                      pinjaman yang diterima.




1366 PT Bank Mandiri (Persero) Tbk                                              299
Page 860
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


37. PINJAMAN DAN EFEK-EFEK SUBORDINASI                          37. SUBORDINATED             LOANS     AND     MARKETABLE
                                                                    SECURITIES

    Berdasarkan jenis dan mata uang:                                   By type and currency:

                                                     2023                     2022

    Rupiah                                                                                                            Rupiah
        Medium Term Notes Subordinasi I                                                  Medium Term Notes Subordinated I
           Bank Mandiri                                                                                    Bank Mandiri
           Pihak berelasi (Catatan 56)                           -                87.000       Related parties (Note 56)
           Pihak ketiga                                          -               413.000                    Third parties

         Medium Term Notes Subordinasi II                                                  Medium Term Notes Subordinated II
            Bank Mandiri                                                                                      Bank Mandiri
            Pihak berelasi (Catatan 56)                     10.000                       -        Related parties (Note 56)
            Pihak ketiga                                    90.000                       -                     Third parties

    Total                                                  100.000               500.000                                  Total


    Mata uang asing                                                                                      Foreign currencies
        Two-step loans (TSL)                                                                         Two-step loans (TSL)
            Pihak ketiga                                                                                   Third parties
            Asian Development Bank (ADB)                                                 Asian Development Bank (ADB)
              (Catatan 62.B.(iv))                          115.735               133.564           (Catatan 62.B.(iv))

                                                           215.735               633.564
    Dikurangi: biaya penerbitan yang
        belum diamortisasi                                   (564)                   (231)     Less: unamortised issuance cost

    Neto                                                   215.171               633.333                                       Net


    Medium Term Notes Subordinasi I Bank Mandiri                       Medium Term Notes Subordinated I Bank Mandiri

    Dalam rangka memperkuat struktur permodalan dan                    In order to strengthen the capital structure and long-
    struktur penghimpunan dana jangka panjang serta                    term funding structure, as well as to support the credit
    untuk mendukung ekspansi kredit, pada tanggal                      expansion, on 31 July 2018, Bank Mandiri issued
    31 Juli 2018, Bank Mandiri menerbitkan Medium Term                 Subordinated Medium Term Notes I Bank Mandiri 2018
    Notes Subordinasi I Bank Mandiri Tahun 2018 (“MTN                  ("Subordinated MTN I") amounted to Rp500,000. On
    Subordinasi I”) sebesar Rp500.000. Pada tanggal                    31 December 2023, the unamortised issuance cost of
    31 Desember 2023, biaya penerbitan MTN                             Subordinated MTN I amounted to RpNil.
    Subordinasi I yang belum diamortisasi sebesar
    RpNihil.

    MTN Subordinasi I memiliki jangka waktu 5 (lima)                   Subordinated MTN I has 5 (five) years in terms and will
    tahun dan akan jatuh tempo pada tanggal 31 Juli                    mature on 31 July 2023, in which issued scriptless with
    2023, diterbitkan tanpa warkat dengan tingkat bunga                a fixed rate of 8.50% per annum. The Trustee of the
    tetap sebesar 8,50% per tahun. Wali amanat dari                    issuance of Subordinated MTN I is PT Bank Permata
    penerbitan MTN Subordinasi I adalah PT Bank                        Tbk.
    Permata Tbk.

    Bunga MTN Subordinasi I dibayarkan setiap triwulan,                Interest of Subordinated MTN I is paid on quarterly
    dengan pembayaran bunga pertama dilakukan pada                     basis, the first interest payment was made on
    tanggal 31 Oktober 2018, sedangkan pembayaran                      31 October 2018 while the last interest payment, in
    bunga terakhir sekaligus jatuh tempo MTN                           which also the maturity date and the repayment of the
    Subordinasi I adalah pada tanggal 31 Juli 2023 yang                principal of Subordinated MTN I is on 31 July 2023.
    juga merupakan tanggal pelunasan pokok MTN                         The principal of MTN I will be fully repaid on the
    Subordinasi I. Pembayaran pokok MTN Subordinasi I                  maturity date. Subordinated MTN I can be treated as
    dilakukan secara penuh pada saat tanggal jatuh                     supplementary capital components (Tier 2) according
    tempo. MTN Subordinasi I dapat dicatat sebagai                     to the approval from FSA through letter
    komponen modal pelengkap (Tier 2) sesuai                           No. S-109/PB.31/2018 dated 20 September 2018.
    persetujuan dari Otoritas Jasa Keuangan (“OJK”)
    melalui surat No. S-109/PB.31/2018 tanggal
    20 September 2018.



                                                                     300                                     ANNUAL REPORT 2023      1367
Page 861
            MAIN                       MANAGEMENT                       COMPANY                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                      ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            37. PINJAMAN       DAN     EFEK-EFEK       SUBORDINASI        37. SUBORDINATED LOANS             AND     MARKETABLE
                (lanjutan)                                                    SECURITIES (continued)

                Medium Term Notes Subordinasi I Bank Mandiri                 Medium Term Notes Subordinated I Bank Mandiri
                (lanjutan)                                                   (continued)

                Sebelum dilunasinya semua jumlah terutang yang               Prior to full repayment of the amount outstanding of
                harus dibayar, Bank Mandiri berkewajiban untuk: (i)          the MTN, Bank Mandiri is obliged to: (i) maintain at all
                memelihara pada setiap saat keadaan keuangan                 times soundness of financial condition in accordance
                berada dalam kondisi sehat sesuai ketentuan OJK; (ii)        to FSA regulation; (ii) maintain a minimum level of
                mempertahankan tingkat kesehatan Bank minimal                soundness composite rating of 3 (three) which is
                berada dalam peringkat komposit 3 (tiga) yang                categorised as "Fair", according to internal
                tergolong “Cukup Baik”, sesuai penilaian internal            assessment based on FSA regulation and/or Bank
                berdasarkan ketentuan/peraturan OJK dan/atau Bank            Indonesia; (iii) obtain and comply with all requirements
                Indonesia; (iii) memperoleh, mematuhi segala                 and exercise all necessary things to keep the
                ketentuan dan melakukan hal-hal yang diperlukan              authority, license and approval (from government or
                untuk menjaga tetap berlakunya segala kuasa, izin,           other authorities) comply with requirement in
                dan persetujuan (baik dari pemerintah maupun dari            accordance to Republic of Indonesia’s law.
                pihak yang berwenang lainnya) dan mematuhi
                peraturan perundang-undangan Negara Republik
                Indonesia.

                Bank Mandiri tanpa persetujuan tertulis Wali Amanat          Bank Mandiri without written permission from the
                tidak akan melakukan hal-hal sebagai berikut: (i)            Trustee shall not: (i) reduce registered capital, issued
                mengurangi modal dasar, modal ditempatkan dan                capital and paid-up capital, except required by the
                modal disetor, kecuali karena adanya ketentuan               government, authorised by the Authorities or Bank
                Pemerintah, Otoritas yang Berwenang atau Bank                Indonesia; (ii) change the core business; (iii) perform
                Indonesia; (ii) mengadakan perubahan bidang usaha            merger, dissolvement and/or taken over by other entity
                utama; (iii) mengadakan penggabungan, peleburan              which lead to dissolution of Bank Mandiri.
                dan/atau pengambilalihan dengan entitas lain yang
                menyebabkan bubarnya Bank Mandiri.

                MTN Subordinasi I tidak dijamin dengan suatu bentuk          Subordinated MTN I is not guaranteed by a special
                jaminan khusus, kecuali jaminan umum sebagaimana             collateral, except guarantee which refer to Article 1131
                dimaksud dalam dan sesuai dengan ketentuan Pasal             and 1132 of Indonesian Civil Law (UU Hukum
                1131 dan Pasal 1132 Kitab Undang-Undang Hukum                Perdata) which covers all the Bank’s either moving
                Perdata Indonesia yakni seluruh harta kekayaan Bank          objects and objects that are not moving, present or
                Mandiri baik berupa barang bergerak maupun barang            future.
                tidak bergerak, baik yang telah ada maupun yang
                akan ada di kemudian hari.

                Tidak terdapat pelanggaran atas pembatasan                   There was no breach of the Trustee restrictions
                perjanjian perwaliamanatan MTN Subordinasi I                 agreement on Subordinated MTN I during the year
                selama tahun yang berakhir pada tanggal                      ended on 31 December 2023 and 2022.
                31 Desember 2023 dan 2022.

                Pada tanggal 31 Desember 2022, peringkat MTN                 As of 31 December 2022, rating of MTN Subordinated
                Subordinasi I menurut Pefindo adalah idAA (double            I based on Pefindo was idAA (double A). As of 31 July
                A). Pada tanggal 31 Juli 2023, MTN Subordinasi I             2023, MTN subordinated I has matured and has been
                telah jatuh tempo dan dilunasi.                              settled.

                Medium Term Notes Subordinasi II Bank Mandiri                Medium Term Notes Subordinated II Bank Mandiri

                Dalam rangka memperkuat struktur penghimpunan                In order to strengthen the long-term funding structure
                dana jangka panjang dan mendukung ekspansi kredit,           as well as to support the credit expansion, on 23 June
                pada tanggal 23 Juni 2023, Bank Mandiri menerbitkan          2023, Bank Mandiri issued Subordinated Medium Term
                Medium Term Notes Subordinasi II Bank Mandiri                Notes II Bank Mandiri 2023 ("Subordinated MTN II")
                Tahun 2023 (“MTN Subordinasi II”) sebesar                    amounted to Rp100,000. On 31 December 2023, the
                Rp100.000. Pada tanggal 31 Desember 2023, biaya              unamortised issuance cost of Subordinated MTN II
                penerbitan MTN Subordinasi II yang belum                     amounted to Rp564.
                diamortisasi sebesar Rp564.

                MTN Subordinasi II memiliki jangka waktu 5 (lima)            Subordinated MTN II has 5 (five) years in terms and
                tahun dan akan jatuh tempo pada tanggal 23 Juni              will mature on 23 June 2028, in which issued scriptless
                2028, diterbitkan tanpa warkat dengan tingkat bunga          with a fixed rate of 6.95% per annum. The Trustee of
                tetap sebesar 6,95% per tahun. Wali amanat dari              the issuance of Subordinated MTN II is PT Bank
                penerbitan MTN Subordinasi II adalah PT Bank                 Negara Indonesia (Persero) Tbk.
                Negara Indonesia (Persero) Tbk.




1368 PT Bank Mandiri (Persero) Tbk                                         301
Page 862
     CORPORATE                 ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                     Financial
     GOVERNANCE                & PRACTICES                  RESPONSIBILITY                         KEUANGAN   2023
                                                                                                     Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)     (Expressed in millions of Rupiah, unless otherwise stated)


37. PINJAMAN       DAN     EFEK-EFEK       SUBORDINASI      37. SUBORDINATED LOANS             AND     MARKETABLE
    (lanjutan)                                                  SECURITIES (continued)

    Medium Term Notes Subordinasi II Bank Mandiri              Medium Term Notes Subordinated II Bank Mandiri
    (lanjutan)                                                 (continued)

    Bunga MTN Subordinasi II dibayarkan setiap triwulan,       Interest of Subordinated MTN II is paid on quarterly
    dengan pembayaran bunga pertama dilakukan pada             basis, the first interest payment will be made on
    tanggal 23 September 2023, sedangkan pembayaran            23 September 2023 while the last interest payment, in
    bunga terakhir sekaligus jatuh tempo MTN                   which also the maturity date and the repayment of the
    Subordinasi II adalah pada tanggal 23 Juni 2028 yang       principal of Subordinated MTN II, is on 23 June 2028.
    juga merupakan tanggal pelunasan pokok MTN                 The principal of MTN II will be fully repaid on the
    Subordinasi II. Pembayaran pokok MTN Subordinasi           maturity date. On 20 July 2023, Subordinated MTN II
    II dilakukan secara penuh pada saat tanggal jatuh          approved as supplementary capital components (Tier
    tempo. Pada tanggal 20 Juli 2023, MTN Subordinasi II       2) according to the approval from FSA through letter
    telah mendapat persetujuan dari Otoritas Jasa              No. SR-51/PB.21/2023.
    Keuangan untuk dicatat sebagai komponen modal
    pelengkap (Tier 2) melalui surat No. SR-
    51/PB.21/2023.

    Sebelum dilunasinya semua jumlah terutang yang             Prior to full repayment of the amount outstanding of
    harus dibayar, Bank Mandiri berkewajiban untuk: (i)        the MTN, Bank Mandiri is obliged to: (i) maintain at all
    memelihara pada setiap saat keadaan keuangan               times soundness of financial condition in accordance
    berada dalam kondisi sehat sesuai ketentuan OJK; (ii)      to FSA regulation; (ii) maintain a minimum level of
    mempertahankan tingkat kesehatan Bank minimal              soundness composite rating of 3 (three) which is
    berada dalam peringkat komposit 3 (tiga) yang              categorised as "Fair", according to internal
    tergolong “Cukup Baik”, sesuai penilaian internal          assessment based on FSA regulation and/or Bank
    berdasarkan ketentuan/peraturan OJK dan/atau Bank          Indonesia; (iii) obtain and comply with all requirements
    Indonesia; (iii) memperoleh, mematuhi segala               and exercise all necessary things to keep the
    ketentuan dan melakukan hal-hal yang diperlukan            authority, license and approval (from government or
    untuk menjaga tetap berlakunya segala kuasa, izin,         other authorities) comply with requirement in
    dan persetujuan (baik dari pemerintah maupun dari          accordance to Republic of Indonesia’s law.
    pihak yang berwenang lainnya) dan melakukan hal-
    hal yang diwajibkan oleh peraturan perundang-
    undangan Negara Republik Indonesia.

    Bank Mandiri tanpa persetujuan tertulis Wali Amanat        Bank Mandiri without written permission from the
    tidak akan melakukan hal-hal sebagai berikut: (i)          Trustee shall not: (i) reduce registered capital, issued
    mengurangi modal dasar, modal ditempatkan dan              capital and paid-up capital, except required by the
    modal disetor, kecuali karena adanya ketentuan             government, authorised by the Authorities or Bank
    Pemerintah, Otoritas yang Berwenang atau Bank              Indonesia; (ii) change the core business; (iii) perform
    Indonesia; (ii) mengadakan perubahan bidang usaha          merger, dissolvement and/or taken over by other entity
    utama; (iii) mengadakan penggabungan, peleburan            which lead to dissolution of Bank Mandiri.
    dan/atau pengambilalihan dengan entitas lain yang
    menyebabkan bubarnya Bank Mandiri.

    MTN Subordinasi II tidak dijamin dengan agunan             Subordinated MTN II is not guaranteed by a public
    umum sesuai Pasal 1131 dan 1132 Kitab Undang-              collateral which refer to Article 1131 and 1132 of
    Undang Hukum Perdata maupun agunan khusus                  Indonesian Civil Law (UU Hukum Perdata) or include
    termasuk tidak dijamin oleh Bank atau Entitas Anak,        special collateral is not guaranteed by Bank or the
    Negara Republik Indonesia atau pihak ketiga lainnya        Subsidiary, Republic of Indonesia or other related
    dan tidak dimasukkan dalam program penjaminan              parties and not included to bank guarantee program
    bank yang dilaksanakan oleh Lembaga Penjaminan             implemented by Deposit Insurance Corporation (LPS)
    Simpanan atau penggantinya. Sesuai dengan                  or its substitute. Based on the Law and regarding
    peraturan perundang-undangan yang berlaku dan              amendment Article 19 Paragraph (1) letter f of Capital
    mengikuti ketentuan pasal 19 ayat (1) hurut f              Adequacy Requirement and in accordance with article
    peraturan Otoritas Jasa Keuangan KPMM dan                  5 of the Subordinated MTN Issuance Agreement.
    merupakan kewajiban penerbit yang disubordinasi,
    sesuai dengan pasal 5 Perjanjian Penerbitan MTN
    Subordinasi.

     Tidak terdapat pelanggaran atas pembatasan                There was no breach of the Trustee restrictions
     perjanjian perwaliamanatan MTN Subordinasi II             agreement on Subordinated MTN II during the year
     selama tahun yang berakhir pada 31 Desember               ended on 31 December 2023.
     2023.

     Pada tanggal 31 Desember 2023, peringkat MTN              As of 31 December 2023, rating of MTN Subordinated
     Subordinasi II menurut Pefindo adalah idAA (double        II based on Pefindo was idAA (double A).
     A).



                                                             302                                     ANNUAL REPORT 2023   1369
Page 863
            MAIN                              MANAGEMENT                    COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                       PROFILE                              ANALYSIS


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)

            37. PINJAMAN           DAN        EFEK-EFEK    SUBORDINASI         37. SUBORDINATED LOANS                   AND     MARKETABLE
                (lanjutan)                                                         SECURITIES (continued)
                Two-step loans - Asian Development Bank                              Two-step loans - Asian Development Bank
                Akun ini merupakan fasilitas kredit dari Asian                       This account represents a loan facility from Asian
                Development Bank (“ADB”) kepada Pemerintah                           Development Bank (“ADB”) to the Government of the
                Republik Indonesia, melalui Kementerian Keuangan                     Republic of Indonesia, through the Ministry of Finance
                Republik Indonesia, untuk disalurkan kepada bank                     of the Republic of Indonesia, which are relent to
                peserta guna membiayai beberapa jenis proyek di                      participating banks to finance several projects in
                Indonesia. Rincian fasilitas ini adalah sebagai berikut:             Indonesia. The detail of this facility is as follows:
                          Fasilitas kredit/                          Tujuan/                                         Jangka waktu/
                           Loan facility                             Purpose                                            Period
                ADB Loan 1327 - INO (SF)               Membiayai Proyek Kredit Mikro/Funding          15 Januari/January 2005 - 15 Juli/July 2029
                                                       Micro Loan Projects (PKM)                      dengan angsuran pertama pada tanggal/with
                                                                                                      the     first    installment  start      on
                                                                                                      15 Januari/January 2005
                                                                     2023                      2022

                ADB Loan 1327 - INO (SF)                                 115.735                 133.564             ADB Loan 1327 - INO (SF)

                Menteri Keuangan melalui surat No. S-596/MK.6/2004                   The Minister of Finance through its letter No. S-
                tanggal 12 Juli 2004, telah menyetujui pengalihan                    596/MK.6/2004 dated 12 July 2004, has approved the
                pengelolaan Proyek Kredit Mikro (“PKM”) Loan ADB                     transfer of management of Micro Credit Project
                No. 1327 - INO (“SF”) dari Bank Indonesia kepada                     (“PKM”) of ADB loans No. 1327 - INO (“SF”) from
                Bank Mandiri. Dengan disetujuinya pengalihan PKM                     Bank Indonesia to Bank Mandiri. With that approval,
                tersebut, maka telah dilakukan perubahan terhadap                    an amendment was made on the channelling loan
                perjanjian   penerusan     pinjaman    No.    SLA-                   agreement No. SLA-805/DP3/1995 dated 27 April
                805/DP3/1995 tanggal 27 April 1995 yang diubah                       1995,    which    was    revised   by   amendment
                dengan      amendemen        No.     AMA-287/SLA-                    No. AMA-287/SLA-805/DP3/2003 dated 22 April 2003,
                805/DP3/2003 tanggal 22 April 2003 antara Republik                   between the Republic of Indonesia and Bank
                Indonesia dan Bank Indonesia menjadi Republik                        Indonesia to the Republic of Indonesia and PT Bank
                Indonesia dan PT Bank Mandiri (Persero) Tbk.,                        Mandiri    (Persero)    Tbk.,    with   amendment
                dengan      amendemen        No.     AMA-298/SLA-                    No. AMA-298/SLA-805/DP3/2004 dated 16 July 2004.
                805/DP3/2004 tanggal 16 Juli 2004.
                Pinjaman ADB untuk Proyek Kredit Mikro diberikan                     The ADB loan for Micro Credit Projects was granted in
                dalam mata uang SDR (Special Drawing Rights)                         SDR (Special Drawing Rights) currency in amount of
                sebesar SDR15.872.600 (nilai penuh) yang wajib                       SDR15,872,600 (full amount) which required Bank
                dibayar kembali oleh Bank Mandiri dalam mata uang                    Mandiri to repay in SDR currency to the Government
                SDR kepada Pemerintah dalam 50 (lima puluh) kali                     in 50 (fifty) prorate semi-annual installments every
                angsuran setiap enam bulan secara prorata setiap                     15 January and 15 July with the first installment paid
                tanggal 15 Januari dan 15 Juli, dengan angsuran                      on 15 January 2005 and will end on 15 July 2029. The
                pertama dilakukan pada tanggal 15 Januari 2005 dan                   ADB loans are subject to a service charge of 1.50%
                berakhir pada tanggal 15 Juli 2029. Atas pinjaman                    per annum which is charged on every 15 January and
                ADB tersebut, Bank Mandiri dikenakan service charge                  15 July every year starting from its drawdown.
                sebesar 1,50% per tahun pada setiap tanggal
                15 Januari dan 15 Juli setiap tahunnya sejak
                penarikan pinjaman.

            38. DANA SYIRKAH TEMPORER                                          38. TEMPORARY SYIRKAH FUNDS
                Dana syirkah temporer terdiri dari:                                  Temporary syirkah funds consists of:
                a.   Simpanan nasabah                                                a.   Deposits from Customers
                     1)    Giro                                                           1)    Demand Deposits
                           a.     Berdasarkan jenis:                                            a.    Based on type:
                                                                     2023                      2022

                                Rupiah                                                                                                  Rupiah
                                Pihak berelasi (Catatan 56)                                                           Related parties (Note 56)
                                                                                                                 Demand deposits - restricted
                                     Giro - investasi terikat                  169                       1                     investment
                                     Giro - investasi tidak                                                    Demand deposits - unrestricted
                                        terikat mudharabah              8.329.095              12.456.380          investment mudharabah

                                                                        8.329.264              12.456.381

1370 PT Bank Mandiri (Persero) Tbk                                               303
Page 864
     CORPORATE                    ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                Financial
     GOVERNANCE                   & PRACTICES                     RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


38. DANA SYIRKAH TEMPORER (lanjutan)                             38. TEMPORARY SYIRKAH FUNDS (continued)

    Dana syirkah temporer terdiri dari (lanjutan):                     Temporary syirkah funds consists of (continued):

    a.   Simpanan nasabah (lanjutan)                                   a.   Deposits from Customers (continued)

         1)   Giro (lanjutan)                                               1)    Demand Deposits (continued)

              a.    Berdasarkan jenis (lanjutan):                                 a.    Based on type (continued):

                                                       2023                      2022

                    Rupiah (lanjutan)                                                                          Rupiah (continued)
                    Pihak ketiga                                                                                      Third parties
                       Giro - investasi terikat                                                    Demand deposits - restricted
                           dan tidak terikat                                                      and unrestricted investment
                           mudharabah                   11.211.248                8.117.963                      mudharabah
                       Giro mudharabah                                                           Demand deposits mudharabah
                           musytarakah                          589                      626                     musytarakah

                                                        11.211.837                8.118.589

                                                        19.541.101               20.574.970

                    Mata uang asing                                                                              Foreign currency
                    Pihak berelasi (Catatan 56)                                                         Related parties (Note 56)
                       Giro - investasi terikat                                                    Demand deposits - restricted
                           dan tidak terikat                                                      and unrestricted investment
                           mudharabah                    9.245.205                1.245.851                      mudharabah

                                                           9.245.205              1.245.851
                    Pihak ketiga                                                                                      Third parties
                       Giro - investasi terikat                                                    Demand deposits - restricted
                           dan tidak terikat                                                      and unrestricted investment
                           mudharabah                    3.567.559                 902.267                       mudharabah

                                                           3.567.559               902.267

                                                        12.812.764                2.148.118

                                                        32.353.865               22.723.088


                    Giro - investasi terikat merupakan                                  The demand deposits - restricted
                    simpanan dana pihak lain yang                                       investment represent deposits from third
                    mendapatkan imbal bagi hasil dari                                   parties which will receive returns from
                    pendapatan     Entitas    Anak     atas                             Subsidiary’s restricted investment based
                    penggunaan dana pada penyaluran                                     on the agreed share (nisbah) of the
                    dana yang kriterianya telah ditentukan                              Subsidiary’s revenue.
                    oleh pemilik dana berdasarkan nisbah
                    yang    ditetapkan     dan     disetujui
                    sebelumnya.

              b.    Kisaran nisbah bagi hasil untuk giro                          b.    Range of profit sharing ratios for demand
                    mudharabah - investasi tidak terikat per                            deposits - unrestricted mudharabah
                    tahun:                                                              investment per year:

                                                       2023                      2022

                   Rupiah                            3,15% - 3,97%          1,95% - 3,40%                                 Rupiah
                   Mata uang asing                   0,13% - 5,64%          0,05% - 0,19%                        Foreign currency




                                                                   304                                         ANNUAL REPORT 2023     1371
Page 865
            MAIN                          MANAGEMENT                        COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                           PROFILE                              ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


            38. DANA SYIRKAH TEMPORER (lanjutan)                              38. TEMPORARY SYIRKAH FUNDS (continued)
                Dana syirkah temporer terdiri dari (lanjutan):                      Temporary syirkah funds consists of (continued):
                a.   Simpanan nasabah (lanjutan)                                    a.   Deposits from Customers (continued)
                     2)   Tabungan                                                       2)    Saving Deposits
                          a.     Berdasarkan jenis:                                            a.    Based on type:
                                                                   2023                       2022

                               Pihak berelasi (Catatan 56)                                                              Related parties (Note 56)
                                                                                                                     Saving deposits - restricted
                               Tabungan - investasi terikat                 8.320                     731                            investment
                               Tabungan mudharabah -                                                               Mudharabah saving deposits
                                 investasi tidak terikat                                                              - unrestricted investment
                                 Tabungan BSI                           182.258                     84.035                 BSI saving deposits
                                 Tabungan Investa Cendekia                  252                        425   Investa Cendekia saving deposits
                                 Tabungan Mabrur                           450                         292              Mabrur saving deposits
                                 Tabungan Berencana BSI                    291                         197     Berencana BSI saving deposits
                                 Tabungan Mudharabah                                                                      Mudharabah Institusi
                                   Institusi                                  90                      390                    saving deposits
                                                                       191.661                      86.070
                               Pihak ketiga                                                                                          Third parties
                                                                                                                     Saving deposits - restricted
                               Tabungan - investasi terikat           2.232.598                2.061.141                             investment
                               Tabungan mudharabah -                                                               Mudharabah saving deposits
                                 investasi tidak terikat                                                              - unrestricted investment
                                Tabungan BSI                        61.304.784                57.783.564                   BSI saving deposits
                                Tabungan Mabrur                     11.352.080                 9.374.466                Mabrur saving deposits
                                Tabungan Pensiun                     1.040.963                 1.064.785           Retirement saving deposits
                                Tabungan Mudharabah                                                               Mudharabah Institusi saving
                                   Institusi                           900.732                 1.148.770                             deposits
                                Tabungan Investa Cendekia              489.959                   568.028     Investa Cendekia saving deposits
                                Tabungan Berencana BSI                 187.202                   182.713       Berencana BSI saving deposits
                                Tabungan Qurban                             91                       169               Qurban saving deposits
                                                                    77.508.409                72.183.636
                               Total                                77.700.070                72.269.706                                    Total


                                 Tabungan - investasi terikat merupakan                              The saving deposits - restricted
                                 simpanan dana pihak lain yang                                       investment represent deposit from third
                                 mendapatkan imbal bagi hasil dari                                   parties which will receive returns from
                                 pendapatan     Entitas    Anak     atas                             Subsidiary’s revenue, for the usage of
                                 penggunaan dana pada penyaluran                                     channeled funds with criteria determined
                                 dana yang kriterianya telah ditentukan                              by the fund owner’s according to the
                                 oleh pemilik dana berdasarkan nisbah                                previously set and agreed share (nisbah).
                                 yang    ditetapkan     dan     disetujui
                                 sebelumnya.
                                 Tabungan mudharabah - investasi tidak                               The Mudharabah saving deposits -
                                 terikat merupakan simpanan dana pihak                               unrestricted investment represent third
                                 lain yang mendapatkan imbalan bagi                                  parties’ deposits which will receive return
                                 hasil dari pendapatan Entitas Anak atas                             from Subsidiary’s revenue based on the
                                 penggunaan dana tersebut dengan                                     set and agreed share (nisbah).
                                 nisbah yang ditetapkan dan disetujui
                                 sebelumnya.
                          b.     Kisaran nisbah bagi hasil untuk                               b.    Ranging of the annual profit sharing ratio
                                 tabungan mudharabah - investasi tidak                               (nisbah) for Mudharabah saving deposits
                                 terikat per tahun:                                                  - unrestricted investment:
                                                                   2023                       2022

                                 Rupiah                          0,66% - 0,69%           0,68% - 0,91%                                   Rupiah
                                 Mata uang asing                 0,23% - 0,23%           0,23% - 0,24%                          Foreign currency




1372 PT Bank Mandiri (Persero) Tbk                                              305
Page 866
     CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                 Financial
     GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                 Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


38. DANA SYIRKAH TEMPORER (lanjutan)                              38. TEMPORARY SYIRKAH FUNDS (continued)

    Dana syirkah temporer terdiri dari (lanjutan):                      Temporary syirkah funds consists of (continued):

    a.   Simpanan nasabah (lanjutan)                                    a.   Deposits from Customers (continued)

         3)    Deposito mudharabah - investasi tidak terikat                 3)    Mudharabah Time Deposit - unrestricted
                                                                                   investment

                                                      2023                        2022

              Rupiah                                                                                                         Rupiah
                Pihak berelasi (Catatan 56)            27.022.659                 17.735.345             Related parties (Note 56)
                Pihak ketiga                           85.407.012                 80.087.363                          Third parties

                                                      112.429.671                 97.822.708

              Mata uang asing                                                                                     Foreign currency
                Pihak berelasi (Catatan 56)                883.832                   122.331             Related parties (Note 56)
                Pihak ketiga                             2.134.032                 2.330.830                          Third parties

                                                         3.017.864                 2.453.161

              Total                                   115.447.535             100.275.869                                     Total


    b.   Simpanan dari bank lain                                         b. Deposits from Other Banks

                                                      2023                        2022

         Rupiah                                                                                                           Rupiah
         Pihak ketiga                                                                                              Third parties
             Giro mudharabah -                                                                 Mudharabah demand deposits
               investasi tidak terikat                         63.394                31.880      - unrestricted investment
             Tabungan mudharabah -                                                              Mudharabah saving deposits
               investasi tidak terikat                     580.115                  627.646      - unrestricted investment
             Deposito mudharabah -                                                                Mudharabah time deposits
               investasi tidak terikat                     136.693                  274.412      - unrestricted investment

                                                           780.202                  933.938

         Total                                             780.202                  933.938                                   Total


    c.   Berikut adalah informasi penting lainnya                       c.   Other significant information related to the time
         sehubungan dengan deposito dari simpanan                            deposits for deposits from customers and deposits
         nasabah dan simpanan dari bank lain:                                from other banks:

         1)    Berdasarkan jangka waktu:                                     1)    By contract period:

                                                      2023                        2022

              Rupiah                                                                                                        Rupiah
                1 bulan                                61.878.521                 64.518.121                             1 month
                3 bulan                                29.154.725                 19.666.582                            3 months
                6 bulan                                10.333.614                  4.250.650                            6 months
                12 bulan                               11.062.811                  9.661.767                           12 months

               Total                                  112.429.671                 98.097.120                                   Total




                                                                    306                                         ANNUAL REPORT 2023     1373
Page 867
            MAIN                        MANAGEMENT                        COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                           PROFILE                           ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            38. DANA SYIRKAH TEMPORER (lanjutan)                           38. TEMPORARY SYIRKAH FUNDS (continued)
                Dana syirkah temporer terdiri dari (lanjutan):                   Temporary syirkah funds consists of (continued):

                c.   Berikut adalah informasi penting lainnya                    c.   Other significant information related to the time
                     sehubungan dengan deposito dari simpanan                         deposits for deposits from customers and deposits
                     nasabah dan simpanan dari bank lain (lanjutan):                  from other banks (continued):
                     1)   Berdasarkan jangka waktu (lanjutan):                        1)    By contract period (continued):

                                                                   2023                    2022

                          Mata uang asing                                                                                  Foreign currency
                           1 bulan                                   1.736.093              1.904.064                            1 month
                           3 bulan                                     647.481                256.852                           3 months
                           6 bulan                                     102.252                 97.899                           6 months
                           12 bulan                                    532.038                194.346                          12 months
                          Total                                      3.017.864              2.453.161                                  Total
                                                                  115.447.535          100.550.281

                     2)   Berdasarkan sisa waktu hingga jatuh tempo:                  2)    By remaining period until maturity date:
                                                                   2023                    2022

                          Rupiah                                                                                                    Rupiah
                             Kurang dari 1 bulan                    70.186.684             72.572.418                  Less than 1 month
                             1 - 3 bulan                            25.529.426             15.147.698                        1 - 3 months
                             3 - 6 bulan                             9.352.135              4.837.970                        3 - 6 months
                             6 - 12 bulan                            7.361.426              5.539.034                      6 - 12 months
                          Total                                   112.429.671              98.097.120                                  Total

                          Mata uang asing                                                                                 Foreign currency
                             Kurang dari 1 bulan                     2.254.257              1.960.597                  Less than 1 month
                             1 - 3 bulan                               265.355                300.290                        1 - 3 months
                             3 - 6 bulan                                87.922                 81.059                        3 - 6 months
                             6 - 12 bulan                              410.330                111.215                      6 - 12 months
                          Total                                      3.017.864              2.453.161                                  Total
                                                                  115.447.535          100.550.281

                          Deposito berjangka mudharabah merupakan                           Mudharabah time deposits represent third
                          simpanan     dana      pihak    lain  yang                        parties’ deposits which received a profit
                          mendapatkan imbalan bagi hasil dari                               sharing return from the Subsidiary’s income
                          pendapatan Entitas Anak atas penggunaan                           over utilisation of its fund based on an agreed
                          dana tersebut dengan nisbah yang                                  profit sharing ratio (nisbah) set and arranged
                          ditetapkan dan disetujui sebelumnya dengan                        in mudharabah muthlaqah agreement.
                          akad mudharabah muthlaqah.

                     3)   Kisaran nisbah bagi hasil untuk deposito                    3)    Ranging of the annual profit sharing ratio (nisbah)
                          mudharabah per tahun:                                             Mudharabah Time Deposits:

                                                                   2023                    2022

                          Rupiah                                 2,48% - 2,55%        2,51% - 3,23%                                Rupiah
                          Mata uang asing                        0,23% - 0,30%        0,22% - 0,27%                       Foreign currency

                     4)   Deposito berjangka mudharabah dengan                        4)    Mudharabah time deposits with mudharabah
                          akad mudharabah muthlaqah yang dijadikan                          muthlaqah agreement that is pledged as
                          sebagai    jaminan    atas piutang   dan                          collateral for receivables and financing
                          pembiayaan       adalah    masing-masing                          amounted to Rp1,369,418 and Rp944,097 as
                          berjumlah Rp1.369.418 dan Rp944.097 pada                          of 31 December 2023 and 2022, respectively.
                          tanggal 31 Desember 2023 dan 2022.



1374 PT Bank Mandiri (Persero) Tbk                                           307
Page 868
           CORPORATE                            ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                       LAPORAN
                                                                                                                                              Financial
           GOVERNANCE                           & PRACTICES                                  RESPONSIBILITY                                 KEUANGAN   2023
                                                                                                                                              Statements 2023


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

      CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
      KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
      31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
      (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


      39. KEPENTINGAN NONPENGENDALI ATAS ASET                                            39. NON-CONTROLLING INTERESTS IN NET ASSETS
          BERSIH ENTITAS ANAK YANG DIKONSOLIDASI                                             OF CONSOLIDATED SUBSIDIARIES

          Akun ini merupakan kepentingan nonpengendali atas                                         This account represents non-controlling interests in net
          aset bersih Entitas Anak yang dikonsolidasi sebagai                                       assets of consolidated Subsidiaries are as follows:
          berikut:

                                                                            2023                            2022

           PT Bank Syariah Indonesia Tbk.                                    18.774.081                      16.256.603    PT Bank Syariah Indonesia Tbk.
           PT Bank Mandiri Taspen                                             3.090.371                       2.442.097           PT Bank Mandiri Taspen
           PT Mandiri Tunas Finance                                           1.974.533                       1.495.576          PT Mandiri Tunas Finance
           PT AXA Mandiri Financial Services                                  1.773.435                       1.585.781 PT AXA Mandiri Financial Services
           PT Mandiri Utama Finance                                             679.424                         460.299         PT Mandiri Utama Finance
           PT Asuransi Jiwa Inhealth Indonesia                                  349.463                         325.364 PT Asuransi Jiwa Inhealth Indonesia
           PT Mandiri Sekuritas                                                     626                             596                PT Mandiri Sekuritas
           PT Mandiri Capital Indonesia                                             245                             353       PT Mandiri Capital Indonesia

           Total                                                             26.642.178                      22.566.669                                           Total



      40. EKUITAS                                                                        40. EQUITY

          a.     Modal dasar, ditempatkan dan disetor                                               a.   Authorised, issued and fully paid capital

                 Modal dasar, ditempatkan dan disetor Bank                                               The Bank’s authorised, issued and fully paid capital
                 Mandiri  masing-masing     pada    tanggal                                              as of 31 December 2023 and 2022, respectively,
                 31 Desember 2023 dan 2022 adalah sebagai                                                are as follows:
                 berikut:

                                                                                             2023

                                                                             Nilai nominal
                                                                              per lembar                                 Persentase
                                                                                 saham                  Total nilai      kepemilikan
                                                       Jumlah lembar       (jumlah penuh)/                saham            saham/
                                                          Saham/            Nominal value           (jumlah penuh)/      Percentage
                                                         Number of             per Share               Share value           of
                                                          shares             (full amount)            (full amount)       ownership
               Modal dasar                                                                                                                 Authorised capital

                    Saham Seri A Dwiwarna                             1                 125                        125           0,00%       Dwiwarna Series A Share
                    Saham Biasa Seri B                  127.999.999.999                 125         15.999.999.999.875         100,00%       Series B Common Shares


                 Total modal dasar                      128.000.000.000                             16.000.000.000.000         100,00%


                 Modal ditempatkan dan disetor                                                                                               Issued and fully paid capital
                   Saham Seri A Dwiwarna                                                                                                      Dwiwarna Series A Share
                      Negara Republik Indonesia                        1               125                        125            0,00%         Republic of Indonesia
                   Saham Seri B                                                                                                               Series B Common Shares
                      Negara Republik Indonesia          48.533.333.333                125           6.066.666.666.625          52,00%            Republic of Indonesia
                      Indonesia Investment Authority      7.466.666.666                125             933.333.333.250           8,00%   Indonesia Investment Authority
                      Dewan Komisaris:                                                                                                         Board of Commissioners:
                          Rionald Silaban                     2.017.700                125                252.212.500            0,00%               Rionald Silaban
                          Arif Budimanta                      1.703.900                125                212.987.500            0,00%                Arif Budimanta
                          Faried Utomo                        1.703.900                125                212.987.500            0,00%                 Faried Utomo
for                       Nawal Nely                          1.703.900                125                212.987.500            0,00%                    Nawal Nely
                          Muhammad Yusuf Ateh                 1.261.100                125                157.637.500            0,00%       Muhammad Yusuf Ateh
                      Direksi:                                                                                                                       Board of Directors:
                          Darmawan Junaidi                    6.762.300                125                 845.287.500           0,01%            Darmawan Junaidi
                          Alexandra Askandar                  7.425.200                125                 928.150.000           0,01%          Alexandra Askandar
                          Ahmad Siddik Badruddin              8.715.900                125               1.089.487.500           0,01%      Ahmad Siddik Badruddin
                          Agus Dwi Handaya                    6.755.100                125                 844.387.500           0,01%           Agus Dwi Handaya
                          Riduan                              7.000.000                125                 875.000.000           0,01%                        Riduan
                          Aquarius Rudianto                   4.137.300                125                 517.162.500           0,00%            Aquarius Rudianto
                          Toni Eko Boy Subari                 3.117.500                125                 389.687.500           0,00%          Toni Eko Boy Subari
                          Susana Indah K. Indriati            4.438.400                125                 554.800.000           0,01%       Susana Indah K. Indriati
                          Rohan Hafas                         3.000.500                125                 375.062.500           0,00%                 Rohan Hafas
                          Sigit Prastowo                      6.305.100                125                 788.137.500           0,01%                Sigit Prastowo
                          Timothy Utama                       3.621.900                125                 452.737.500           0,00%               Timothy Utama
                          Eka Fitria                            170.000                125                  21.250.000           0,00%                      Eka Fitria
                      Publik (masing-masing
                          dibawah 5%)                    37.263.493.632                125           4.657.936.704.000          39,93%            Public (less than 5%)

                                                         93.333.333.332                             11.666.666.666.500         100,00%




                                                                                               308                                            ANNUAL REPORT 2023             1375
Page 869
            MAIN                                 MANAGEMENT                               COMPANY                                     MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                  PROFILE                                     ANALYSIS


                                                                PT BANK MANDIRI (PERSERO) Tbk.
                                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


            40. EKUITAS (lanjutan)                                                            40. EQUITY (continued)

                a.   Modal dasar,                ditempatkan       dan         disetor                   a.   Authorised, issued and fully paid capital
                     (lanjutan)                                                                               (continued)

                     Modal dasar, ditempatkan dan disetor Bank                                                The Bank’s authorised, issued and fully paid capital
                     Mandiri      masing-masing pada    tanggal                                               as of 31 December 2023 and 2022, respectively,
                     31 Desember 2023 dan 2022 adalah sebagai                                                 are as follows (continued):
                     berikut (lanjutan):

                                                                                                  2022

                                                                                  Nilai nominal
                                                                                   per lembar                                 Persentase
                                                                                      saham                  Total nilai      kepemilikan
                                                           Jumlah lembar        (jumlah penuh)/                saham            saham/
                                                              Saham/             Nominal value           (jumlah penuh)/      Percentage
                                                             Number of              per Share               Share value           of
                                                              shares              (full amount)            (full amount)       ownership


                     Modal dasar                                                                                                                           Authorised capital

                         Saham Seri A Dwiwarna                            1                  250                        250           0,00%       Dwiwarna Series A Share
                         Saham Biasa Seri B                  63.999.999.999                  250         15.999.999.999.750         100,00%       Series B Common Shares


                     Total modal dasar                       64.000.000.000                              16.000.000.000.000         100,00%


                     Modal ditempatkan dan disetor                                                                                                Issued and fully paid capital
                       Saham Seri A Dwiwarna                                                                                                       Dwiwarna Series A Share
                          Negara Republik Indonesia                        1                250                        250            0,00%         Republic of Indonesia
                       Saham Seri B                                                                                                                Series B Common Shares
                          Negara Republik Indonesia          24.266.666.666                 250           6.066.666.666.500          52,00%            Republic of Indonesia
                          Indonesia Investment Authority      3.733.333.333                 250             933.333.333.250           8,00%   Indonesia Investment Authority
                          Dewan Komisaris:                                                                                                          Board of Commissioners:
                              Rionald Silaban                      553.200                  250                138.300.000            0,00%               Rionald Silaban
                              Arif Budimanta                       396.300                  250                 99.075.000            0,00%                Arif Budimanta
                              Faried Utomo                         396.300                  250                 99.075.000            0,00%                 Faried Utomo
                              Nawal Nely                           396.300                  250                 99.075.000            0,00%                    Nawal Nely
                              Muhammad Yusuf Ateh                  174.900                  250                 43.725.000            0,00%       Muhammad Yusuf Ateh
                          Direksi:                                                                                                                        Board of Directors:
                              Darmawan Junaidi                    2.206.100                 250                551.525.000            0,01%            Darmawan Junaidi
                              Alexandra Askandar                  2.700.000                 250                675.000.000            0,01%          Alexandra Askandar
                              Ahmad Siddik Badruddin              3.401.600                 250                850.400.000            0,01%      Ahmad Siddik Badruddin
                              Agus Dwi Handaya                    2.060.700                 250                515.175.000            0,01%           Agus Dwi Handaya
                              Panji Irawan                        2.025.700                 250                506.425.000            0,01%                  Panji Irawan
                              Riduan                              1.982.000                 250                495.500.000            0,00%                        Riduan
                              Aquarius Rudianto                   1.112.300                 250                278.075.000            0,00%            Aquarius Rudianto
                              Toni Eko Boy Subari                   602.400                 250                150.600.000            0,00%          Toni Eko Boy Subari
                              Susana Indah K. Indriati              912.300                 250                228.075.000            0,00%       Susana Indah K. Indriati
                              Rohan Hafas                           543.900                 250                135.975.000            0,00%                 Rohan Hafas
                              Sigit Prastowo                      1.393.400                 250                348.350.000            0,00%                Sigit Prastowo
                              Timothy Utama                         622.100                 250                155.525.000            0,00%               Timothy Utama
                          Publik (masing-masing
                              dibawah 5%)                    18.645.187.166                 250           4.661.296.791.500          39,95%            Public (less than 5%)

                                                             46.666.666.666                              11.666.666.666.500         100,00%


                     Per 31 Desember 2018 terdapat perubahan                                                  As of 31 December 2018, there was a change of
                     kepemilikan saham yang dimiliki oleh Dewan                                               ownership of the stock owned by the Board of
                     Komisaris Bank Mandiri, dimana kepemilikan                                               Commissioners of Bank Mandiri, where the
                     saham pada tahun sebelumnya nihil. Kepemilikan                                           ownership of shares in the prior year was nil. The
                     saham tersebut dalam rangka pelaksanaan                                                  share ownership was related to the implementation
                     POJK No. 45/POJK.03/2015 tentang Penerapan                                               of FSA regulation No. 45/POJK.03/2015, about the
                     Tata Kelola dalam Pemberian Remunerasi Bagi                                              Application of Corporate Governance in Granting
                     Bank Umum, dimana anggota Direksi dan Dewan                                              Remuneration for Commercial Banks, where
                     Komisaris Non Independen diberikan remunerasi                                            member of Directors and Non Independent Board
                     yang bersifat variabel dalam bentuk saham Bank                                           of Commissioners are entitled to variable
                     atas kinerja untuk tahun buku 2017.                                                      remuneration in form of the Bank’s shares for
                                                                                                              financial performance of 2017.

                     Saham yang dimiliki oleh Dewan Komisaris dan                                             Shares owned by the Board of Commissioners and
                     Direksi untuk tahun yang berakhir pada tanggal                                           Board of Directors for the period/ended
                     31 Desember 2023 dan 2022 masing-masing                                                  31 December 2023 and 2022 respectively,
                     sebesar 69.839.700 lembar saham dan                                                      amounted to 69,839,700 shares and 21,479,500
                     21.479.500 lembar saham atau 0,07% dan 0,05%                                             shares, or 0.07% and 0.05% from the total number
                     dari jumlah lembar saham modal ditempatkan                                               of issued and fully paid-in capital shares.
                     dan disetor.



1376 PT Bank Mandiri (Persero) Tbk                                                                  309
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     CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                         Financial
     GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                          KEUANGAN   2023
                                                                                                         Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


40. EKUITAS (lanjutan)                                         40. EQUITY (continued)
    a.   Modal dasar,       ditempatkan      dan    disetor       a.   Authorised, issued and fully paid capital
         (lanjutan)                                                    (continued)
         Penetapan modal ditempatkan dan disetor                       The determination of issued and fully paid capital
         sebesar Rp4.000.000 oleh Pemerintah Republik                  amounted to Rp4,000,000 by the Government of
         Indonesia pada tanggal pendirian Bank Mandiri,                the Republic of Indonesia at the date of
         telah dilaksanakan sebagai berikut:                           establishment of Bank Mandiri was carried out as
         1. Pembayaran secara tunai melalui Bank                       follows:
              Indonesia sejumlah Rp1.600.004.                          1. Cash payment through Bank Indonesia
         2. Penempatan dalam saham yang dicatat                             amounted to Rp1,600,004.
              sebagai penyertaan saham pada Bank                       2. Placements in shares recorded as investments
              Peserta Penggabungan sejumlah Rp599.999                       in shares of the Merged Banks amounted to
              untuk      setiap    bank     atau    jumlah                  Rp599,999 each or totaling Rp2,399,996,
              keseluruhannya       Rp2.399.996,     melalui                 through the transfer of shares of the
              pengalihan saham milik Pemerintah Republik                    Government of the Republic of Indonesia in
              Indonesia pada setiap Bank Peserta                            each of the Merged Banks to Bank Mandiri, as
              Penggabungan kepada Bank Mandiri, seperti                     resolved during the respective Extraordinary
              yang telah disebut dalam Rapat Umum                           General Shareholders’ Meetings of the
              Pemegang Saham Luar Biasa dari Bank                           Merged Banks. Based on the inbreng
              Peserta      Penggabungan.       Berdasarkan                  agreement approved by Notarial Deed No. 9
              perjanjian inbreng yang telah diaktakan                       of Notary Sutjipto, S.H., dated 2 October 1998,
              dengan Akta No. 9 yang dibuat oleh Notaris                    Bank Mandiri and the Government of the
              Sutjipto, S.H., tanggal 2 Oktober 1998, Bank                  Republic of Indonesia agreed to transfer those
              Mandiri dan Pemerintah Republik Indonesia                     shares as payment for new shares to be
              setuju untuk mengalihkan saham-saham                          issued by Bank Mandiri.
              tersebut sebagai pembayaran untuk saham
              baru yang akan dikeluarkan oleh Bank
              Mandiri.
         Berdasarkan perubahan anggaran dasar Bank                     Based on the amendments to the Articles of
         Mandiri yang dituangkan dalam Akta No. 98 yang                Association of Bank Mandiri which stated in the
         dibuat oleh Notaris Sutjipto, S.H., tanggal 24 Juli           Notarial Deed No. 98 of Notary Sutjipto, S.H. dated
         1999, pemegang saham memutuskan untuk                         24 July 1999, the shareholders resolved to
         meningkatkan modal disetor (modal saham) Bank                 increase the paid-in capital (share capital) of Bank
         Mandiri dari Rp4.000.000 menjadi Rp4.251.000                  Mandiri from Rp4,000,000 to Rp4,251,000 to be
         dan jumlah tersebut akan dibayar oleh                         entirely paid by the Government of the Republic of
         Pemerintah Republik Indonesia. Penambahan                     Indonesia. The increase of Rp251,000 was a
         sebesar Rp251.000 merupakan hasil konversi                    conversion from additional paid-in capital to share
         dari tambahan modal disetor menjadi modal                     capital as a result of an excess from
         saham akibat dari adanya kelebihan obligasi                   recapitalisation bonds issued under the First
         rekapitalisasi yang diterbitkan dalam Program                 Recapitalisation Program based on Government
         Rekapitalisasi Pertama berdasarkan Peraturan                  Regulation No. 52 year 1999.
         Pemerintah No. 52 Tahun 1999.
         Berdasarkan keputusan RUPS-LB tanggal                         Based on the Extraordinary General Meeting of
         29 Mei 2003 yang dituangkan dalam Akta No.                    Shareholders (“RUPS – LB”) decision dated 29 May
         142 yang dibuat oleh Notaris Sutjipto, S.H.,                  2003, which was documented in Notarial Deed No.
         tanggal 29 Mei 2003, pemegang saham Bank                      142 of Notary Sutjipto, S.H., dated 29 May 2003, the
         Mandiri antara lain menyetujui:                               shareholders approved these following matters:
         (i) Pelaksanaan Initial Public Offering (IPO).                (i) Execution of Initial Public Offering (IPO).
         (ii) Perubahan struktur permodalan Bank                       (ii) Changes in capital structure of Bank Mandiri.
               Mandiri.
         (iii) Perubahan anggaran dasar Bank Mandiri.                  (iii) Changes in articles of association of Bank
                                                                             Mandiri.
         Sehubungan dengan keputusan perubahan                         In relation to the shareholders decision to change
         struktur permodalan di atas, modal saham                      the capital structure, Bank Mandiri increased its
         ditempatkan dan disetor Bank Mandiri dinaikkan                issued and fully paid capital to Rp10,000,000 and
         menjadi Rp10.000.000 serta dilakukan stock split              stock split from Rp1,000,000 (full amount) per
         saham Bank Mandiri yang semula dengan nilai                   share to Rp500 (full amount) per share.
         nominal Rp1.000.000 (nilai penuh) per lembar                  Accordingly, the number of authorised shares
         menjadi Rp500 (nilai penuh) per lembar saham.                 increased      from    16,000,000      shares   to
         Dengan dilakukannya stock split tersebut, jumlah              32,000,000,000 shares, and the number of issued
         lembar saham modal dasar Bank Mandiri                         and fully paid shares increased from 10,000,000
         meningkat dari 16.000.000 lembar saham                        shares with a nominal value of Rp1,000,000 (full
         menjadi    32.000.000.000      lembar      saham,             amount) to 20,000,000,000 shares with a nominal
         sedangkan jumlah lembar saham modal                           value of Rp500 (full amount) which consists of
         ditempatkan dan disetor meningkat dari                        1 Dwiwarna Series A share and 19,999,999,999
         10.000.000 lembar saham dengan nilai nominal                  Series B common shares which owned by the
         Rp1.000.000      (nilai      penuh)       menjadi             Republic of Indonesia.
         20.000.000.000 lembar saham dengan nilai
         nominal Rp500 (nilai penuh) terdiri dari 1 Saham
         Seri A Dwiwarna dan 19.999.999.999 Saham
         Biasa Seri B yang dimiliki oleh Negara Republik
         Indonesia.

                                                                 310                                    ANNUAL REPORT 2023    1377
Page 871
            MAIN                       MANAGEMENT                        COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            40. EKUITAS (lanjutan)                                         40. EQUITY (continued)
                a.   Modal dasar,       ditempatkan     dan    disetor        a.   Authorised, issued and fully paid capital
                     (lanjutan)                                                    (continued)
                     Berkaitan      dengan   perubahan    struktur                 In relation to the change in capital structure of
                     permodalan Bank Mandiri, RUPS-LB juga                         Bank Mandiri, the Extraordinary General Meeting
                     menyetujui penetapan bagian dari dana                         of Shareholders (“RUPS – LB”) also approved the
                     rekapitalisasi sebesar Rp168.801.315 sebagai                  allocation on part of recapitalisation fund amounted
                     agio saham.                                                   to Rp168,801,315 as share premium.
                     Perubahan struktur permodalan tersebut di atas                The changes of capital structure that mentioned
                     berlaku efektif terhitung sejak tanggal 23 Mei                above became effective started from 23 May 2003,
                     2003, dengan catatan Bank Mandiri harus                       with the conditional requirement that the Bank
                     melakukan kuasi-reorganisasi yang ditetapkan                  should conduct a quasi-reorganisation before the
                     dalam    RUPS       selambat-lambatnya    pada                end of 2003 as required in the Extraordinary
                     penutupan buku tahun 2003.                                    General Meeting of Shareholders.
                     Saham Seri A Dwiwarna merupakan saham yang                    The Dwiwarna Series A share represents a share
                     dimiliki oleh Negara Republik Indonesia dan tidak             owned by the Republic of Indonesia, which is not
                     dapat dipindahkan kepada siapapun. Saham Seri                 transferrable. It provides the Republic of Indonesia
                     A Dwiwarna memberikan hak istimewa kepada                     with the privileges where General Meeting of
                     Negara Republik Indonesia dimana dalam                        Shareholders can make decision only if the
                     agenda-agenda tertentu, RUPS hanya dapat                      Dwiwarna Series A shareholder attend and
                     memutuskan jika pemegang saham Seri A                         approve certain agendas.
                     Dwiwarna hadir dan menyetujui usul agenda
                     dimaksud.
                     Beberapa agenda RUPS yang wajib dihadiri dan                  The agenda of General Meeting of Shareholders
                     disetujui oleh Pemegang Saham Seri A                          where the shareholder of Dwiwarna Series A are
                     Dwiwarna agar RUPS dapat memutus adalah                       mandatory to attend and approve are:
                     agenda RUPS yang terkait dengan:
                     1. Penambahan modal.                                          1.   Increases in capital.
                     2. Pengangkatan dan pemberhentian Direksi                     2.   Appointment and termination of the Boards of
                          dan Dewan Komisaris.                                          Directors and Commissioners.
                     3. Perubahan anggaran dasar.                                  3.   Amendment of the Articles of Association.
                     4. Penggabungan,          peleburan      dan                  4.   Mergers, acquisitions and takeovers.
                          pengambilalihan.
                     5. Pembubaran dan likuidasi.                                  5.   Dissolution and liquidation.
                     Perubahan      struktur   modal   sebagaimana                 The changes in the capital structure were based on
                     disebutkan di atas telah dicantumkan dalam                    the Minutes of Meeting regarding the Amendment
                     Pernyataan     Keputusan    Rapat    Perubahan                of the Articles of Association (Pernyataan
                     Anggaran Dasar PT Bank Mandiri (Persero) Tbk.                 Keputusan Rapat Perubahan Anggaran Dasar) of
                     yang dituangkan dalam akta notaris Sutjipto,                  PT Bank Mandiri (Persero) as stated in Notarial
                     S.H., No. 2 tanggal 1 Juni 2003. Perubahan                    Deed of Sutjipto, S.H. No. 2 dated 1 June 2003.
                     tersebut telah disahkan oleh Menteri Hukum dan                The amendment was approved by the Ministry of
                     Hak Asasi Manusia Republik Indonesia, dengan                  Law and Human Rights of the Republic of
                     Surat Keputusan No. C-12783.HT.01.04.TH.2003                  Indonesia       through        Decision      Letter
                     tanggal 6 Juni 2003 dan diumumkan pada                        No. C-12783.HT.01.04.TH.2003 dated 6 June 2003
                     tambahan No. 6590 dalam Berita Negara                         and announced in Appendix No. 6590 of State
                     Republik Indonesia No. 63 tanggal 8 Agustus                   Gazette of the Republic of Indonesia No. 63 dated
                     2003.                                                         8 August 2003.
                     Kenaikan modal saham ditempatkan dan disetor                  The increase in issued and fully paid capital of
                     Bank Mandiri dari Rp4.251.000 menjadi                         Bank Mandiri from Rp4,251,000 to Rp10,000,000
                     Rp10.000.000 dilakukan dengan cara sebagai                    was made through the following:
                     berikut:
                     1. Pengembalian sebagian modal disetor                        1.   Partial return of fully paid capital of Rp251,000
                          sebesar Rp251.000 kepada Pemerintah                           to the Government as a part of the return of
                          sebagai bagian dari kelebihan dana                            excess recapitalisation fund of Rp1,412,000
                          rekapitalisasi yang masih ditahan pada Bank                   which was retained by Bank Mandiri, and an
                          Mandiri     sebesar     Rp1.412.000      dan                  increase in paid-in capital amounted to
                          meningkatkan      modal    disetor  sebesar                   Rp1,000,000 from the capitalisation of
                          Rp1.000.000       dari    pengkapitalisasian                  reserves, based on Government Regulation
                          cadangan,        berdasarkan       Peraturan                  No. 26 year 2003 dated 29 May 2003,
                          Pemerintah No. 26 Tahun 2003 tanggal 29                       regarding the Conversion of the Investment of
                          Mei 2003 tentang Konversi Penyertaan                          the Republic of Indonesia into the Paid-in
                          Modal Negara Republik Indonesia ke dalam                      Capital of PT Bank Mandiri (Persero), and
                          modal saham PT Bank Mandiri (Persero)                         Decree of the Ministry of State-Owned
                          Tbk. dan Keputusan Menteri Negara Badan                       Enterprises (“BUMN”), as the Bank’s
                          Usaha Milik Negara (“BUMN”), selaku                           shareholders’,        No. KEP-154/M-MBU/2002
                          Pemegang Saham PT Bank Mandiri                                dated 29 October 2002.
                          (Persero) Tbk. No. KEP-154/M-MBU/2002
                          tanggal 29 Oktober 2002.




1378 PT Bank Mandiri (Persero) Tbk                                           311
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     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


40. EKUITAS (lanjutan)                                       40. EQUITY (continued)
    a.   Modal dasar,       ditempatkan     dan    disetor      a.   Authorised, issued and fully paid capital
         (lanjutan)                                                  (continued)
         Kenaikan modal saham ditempatkan dan disetor                The increase in issued and fully paid capital of
         Bank Mandiri dari Rp4.251.000 menjadi                       Bank Mandiri from Rp4,251,000 to Rp10,000,000
         Rp10.000.000 dilakukan dengan cara sebagai                  was made through the following: (continued)
         berikut: (lanjutan)
         2. Penambahan           modal   disetor   sebesar           2.   Increase in fully paid capital of Rp5,000,000
              Rp5.000.000 yang berasal dari tambahan                      from the additional paid-in capital based on
              modal      disetor    berdasarkan    KMK-RI                 the Decree of the Ministry of Finance of the
              No. 227/202.02/2003 tanggal 23 Mei 2003                     Republic    of     Indonesia     (“KMK     RI”)
              tentang      “Besarnya    Nilai  Final   dan                No. 227/202.02/2003 dated 23 May 2003
              Pelaksanaan Hak-Hak Pemerintah yang                         regarding    “The     Final    Amount      and
              Timbul      Sebagai    Akibat   Penambahan                  Implementation of the Government’s Rights
              Penyertaan       Modal    Negara    Republik                Arising from the Additional Share of the
              Indonesia ke dalam Modal Perusahaan                         Government of the Republic of Indonesia in
              Perseroan (Persero) PT Bank Mandiri                         PT Bank Mandiri (Persero) in Relation to the
              (Persero) Tbk. dalam Rangka Program                         Commercial        Banking      Recapitalisation
              Rekapitalisasi Bank Umum”.                                  Program”.
         Program manajemen berbasis saham                            Management stock option plan
         Berdasarkan Keputusan RUPS - LB tanggal                     Based on the Extraordinary General Meeting of
         29 Mei 2003 sebagaimana tertuang dalam akta                 Shareholders (“RUPS - LB”) held on 29 May 2003,
         Notaris Sutjipto, S.H., No. 142 tanggal 29 Mei              which was notarised by Notary Sutjipto, S.H., in
         2003, pemegang saham Bank Mandiri juga                      Notarial Deed No. 142 dated 29 May 2003, the
         menyetujui rencana kepemilikan saham oleh                   Bank’s shareholders also agreed on employee and
         pegawai dan Direksi melalui Program Penjatahan              directors stock ownership plan through an
         Saham/Employee Stock Allocation (“ESA”) dan                 Employee Stock Allocation (“ESA”) Program and a
         Pemberian Opsi Pembelian Saham kepada                       Management Stock Option Plan (“MSOP”). The
         Manajemen/Management Stock Option Plan                      ESA program consists of a Share Plan Bonus and
         (“MSOP”). Program ESA terdiri dari program                  a Share Purchase at Discount program. MSOP is
         Pemberian Saham Bonus (Share Plan Bonus)                    designated for Directors and Senior Management
         dan program Penjatahan Saham dengan Diskon                  at certain levels and based on certain criteria. All
         (Share Purchase at Discount). Sedangkan                     costs and discounts related to the ESA program
         program MSOP ditujukan untuk Direksi dan                    are recognised by the Bank through allocation of
         pegawai pimpinan pada tingkatan (grade) atau                reserves. The management and execution of the
         kriteria tertentu. Biaya dan diskon atas program            ESA and MSOP programs are performed by the
         ESA tersebut menjadi tanggungan Bank Mandiri                Board of Directors, while the supervision is
         yang bebannya bersumber dari cadangan yang                  performed by the Board of Commissioners.
         telah dibentuk. Pengelolaan dan pelaksanaan
         program ESA dan MSOP dilakukan oleh Direksi,
         sedangkan pengawasannya dilakukan oleh
         Dewan Komisaris.
         Pada tanggal 14 Juli 2003, Pemerintah Republik              On 14 July 2003, the Government of the Republic
         Indonesia melepaskan 4.000.000.000 lembar                   of Indonesia divested 4,000,000,000 shares
         sahamnya,         yang    mewakili     20,00%               representing 20.00% of its ownership in Bank
         kepemilikannya di Bank Mandiri, melalui Initial             Mandiri through an Initial Public Offering (“IPO”).
         Public Offering (“IPO”).
         Sebagai tindak lanjut dari Peraturan Pemerintah             As a follow up action on the Government of
         Republik Indonesia No. 27/2003 tanggal 2 Juni               Republic of Indonesia Regulation No. 27/2003
         2003 yang menyetujui divestasi sampai 30,00%                dated 2 June 2003, which approved the divestment
         atas kepemilikan Pemerintah di Bank Mandiri                 of the Government ownership in Bank Mandiri of
         dan berdasarkan keputusan Tim Kebijakan                     up to 30.00%, and based on a decision of Tim
         Privatisasi   Badan    Usaha      Milik  Negara             Kebijakan Privatisasi Badan Usaha Milik Negara
         No. Kep-05/TKP/01/2004 tanggal 19 Januari                   No. Kep-05/TKP/01/2004 dated 19 January 2004,
         2004, Pemerintah Republik Indonesia melakukan               the Government of the Republic of Indonesia
         divestasi lanjutan atas 10,00% kepemilikan di               divested an additional 10.00% of ownership
         Bank Mandiri atau sebanyak 2.000.000.000                    interest in Bank Mandiri or 2,000,000,000 shares of
         lembar saham Biasa Seri B pada tanggal                      Series B common shares on 11 March 2004
         11 Maret 2004 melalui private placement.                    through private placement.
         Pada saat pelaksanaan IPO tanggal 14 Juli 2003,             On 14 July 2003, the date of the IPO, through
         Bank Mandiri memberikan opsi pembelian saham                MSOP Stage 1, the Bank issued 378,583,785
         kepada manajemen melalui program MSOP                       share options for the management with an exercise
         Tahap 1 sebanyak 378.583.785 opsi dengan                    price of Rp742.50 (full amount) per share and a
         harga eksekusi sebesar Rp742,50 (nilai penuh)               nominal value of Rp500 (full amount) per share.
         per lembar saham dan nilai nominal Rp500 (nilai             The share options are recorded in the
         penuh) per lembar saham. Pemberian opsi                     Shareholders’ Equity account - Share Options at
         saham ini dibukukan pada pos ekuitas - opsi                 fair value amounted to Rp69.71 (full amount) per
         saham dengan nilai wajar opsi saham sebesar                 share options. MSOP Stage 1 has been exercised
         Rp69,71 (nilai penuh) per lembar. Opsi yang                 in total 375,365,957 shares, thereby increasing the
         dieksekusi dari MSOP Tahap 1 adalah sebesar                 total issued and fully paid capital by Rp187,683,
         375.365.957      lembar    saham     sehingga               and share premium by Rp117,193.
         mengakibatkan penambahan Modal Ditempatkan
         dan Disetor sebesar Rp187.683, penambahan
         agio saham sebesar Rp117.193.


                                                               312                                    ANNUAL REPORT 2023    1379
Page 873
            MAIN                       MANAGEMENT                        COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                       ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            40. EKUITAS (lanjutan)                                         40. EQUITY (continued)

                a.   Modal dasar,       ditempatkan     dan    disetor        a.   Authorised, issued and fully paid capital
                     (lanjutan)                                                    (continued)

                     Program manajemen berbasis saham (lanjutan)                   Management stock option plan (continued)

                     Selanjutnya pada RUPS Tahunan tanggal 16 Mei                  The Annual General Meeting of Shareholders on
                     2005 telah disetujui pemberian MSOP Tahap 2                   16 May 2005 approved MSOP Stage 2 amounted
                     sebanyak 312.000.000 opsi saham. Harga                        to 312,000,000 share options. The exercise price
                     eksekusi per lembar saham adalah sebesar                      for each share is Rp1,190.50 (full amount) to be
                     Rp1.190,50 (nilai penuh) untuk pelaksanaan di                 exercised in the first year and Rp2,493 (full
                     tahun pertama dan Rp2.493 (nilai penuh) untuk                 amount) to be exercised in the second year and
                     pelaksanaan di tahun kedua dan di tahun                       the following year. The nominal value per share is
                     berikutnya. Nilai nominal per lembar saham                    Rp500 (full amount). The Bank recorded MSOP
                     adalah Rp500 (nilai penuh). Pemberian opsi                    Stage 2 in the shareholders’ equity account -
                     saham ini dibukukan pada pos ekuitas - opsi                   Share Options with fair value amounted to
                     saham dengan nilai wajar opsi saham sebesar                   Rp642.28 (full amount) per share options. MSOP
                     Rp642,28 (nilai penuh) per lembar. Opsi yang                  Stage 2 has been exercised in total of 311,713,697
                     dieksekusi dari MSOP Tahap 2 adalah sebesar                   shares thereby increasing the total issued and fully
                     311.713.697      lembar    saham     sehingga                 paid capital by Rp155,857 and share premium by
                     mengakibatkan penambahan modal ditempatkan                    Rp425,233.
                     dan disetor sebesar Rp155.857 dan penambahan
                     agio saham sebesar Rp425.233.

                     RUPS Tahunan tanggal 22 Mei 2006 menyetujui                   The Annual General Meeting of Shareholders on
                     pemberian    MSOP     Tahap   3   sebanyak                    22 May 2006 approved MSOP Stage 3 amounted
                     309.416.215 opsi saham.                                       to 309,416,215 share options.

                     Harga eksekusi opsi per lembar saham MSOP                     The exercise price for each share in the MSOP
                     Tahap 3 adalah sebesar Rp1.495,08 (nilai penuh)               Stage 3 is Rp1,495.08 (full amount) with nominal
                     dengan nilai nominal Rp500 (nilai penuh) per                  value of Rp500 (full amount) per share. The Bank
                     lembar saham. Pemberian opsi saham ini                        recorded MSOP Stage 3 as part of the
                     dibukukan pada pos ekuitas - opsi saham dengan                shareholders’ equity account at fair value
                     nilai wajar opsi saham sebesar Rp593,89 (nilai                amounted to Rp593.89 (full amount) per share
                     penuh) per lembar. Opsi yang dieksekusi dari                  option. The total option that has been exercised in
                     MSOP Tahap 3 adalah sebesar 309.415.088                       MSOP Stage 3 was 309,415,088 shares thereby
                     lembar     saham     sehingga    mengakibatkan                increasing the total issued and fully paid capital by
                     penambahan modal ditempatkan dan disetor                      Rp154,707 and share premium by Rp491,651.
                     sebesar Rp154.707 dan penambahan agio
                     saham sebesar Rp491.651.

                     Pada tanggal 27 Desember 2010, Bank telah                     On 27 December 2010, Bank Mandiri submitted a
                     melakukan pendaftaran pertama kepada Otoritas                 first registration to Financial Services Authority
                     Jasa Keuangan (“OJK”) (dahulu Badan                           (“FSA”) (formerly Capital Market Supervisory
                     Pengawas Pasar Modal dan Lembaga Keuangan                     Board and Financial Institution (Bapepam and LK))
                     (Bapepam dan LK)) dalam rangka Penawaran                      in relation to the Limited Public Offering (“LPO”) to
                     Umum Terbatas (“PUT”) kepada para pemegang                    the Bank’s shareholders in respect to the issuance
                     saham Bank dalam rangka Penerbitan Hak                        of Pre-emptive Rights ("HMETD") of 2,336,838,591
                     Memesan Efek Terlebih Dahulu (“HMETD”)                        series B shares. The Limited Public Offering has
                     sebanyak 2.336.838.591 lembar saham seri B.                   been approved by the Board of Commissioners
                     PUT ini telah mendapatkan persetujuan dari                    through its letter dated 29 April 2010. The Bank
                     Dewan Komisaris melalui suratnya tertanggal 29                has submitted the notification letter regarding the
                     April   2010.    Bank     telah   menyampaikan                Limited Public Offering to Bank Indonesia through
                     pemberitahuan mengenai PUT kepada Bank                        its letter dated 17 September 2010. The Limited
                     Indonesia melalui surat tertanggal 17 September               Public Offering has been enacted through the
                     2010. PUT ini juga telah diundangkan melalui                  Indonesian Government Regulation No. 75 of 2010
                     Peraturan Pemerintah Republik Indonesia No. 75                dated 20 November 2010.
                     tahun 2010 tertanggal 20 November 2010.

                     PUT telah mendapat persetujuan efektif dari                   LPO has been approved by Bapepam-LK through
                     Bapepam-LK melalui surat No. S-807/BL/2011                    its     letter  No.      S-807/BL/2011 dated
                     tertanggal 27 Januari 2011, dimana PUT menjadi                27 January 2011, and the LPO has become
                     efektif setelah mendapat persetujuan dari                     effective after obtaining approval in the
                     pemegang saham dalam Rapat Umum                               Extraordinary General Meeting of Shareholders
                     Pemegang Saham Luar Biasa yang dilaksanakan                   held on 28 January 2011.
                     pada tanggal 28 Januari 2011.



1380 PT Bank Mandiri (Persero) Tbk                                           313
Page 874
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


40. EKUITAS (lanjutan)                                       40. EQUITY (continued)

    a.   Modal dasar,       ditempatkan     dan    disetor      a.   Authorised, issued and fully paid capital
         (lanjutan)                                                  (continued)

         Program manajemen berbasis saham (lanjutan)                 Management stock option plan (continued)

         HMETD sebanyak 2.336.838.591 lembar saham                   The Pre-emptive Rights of 2,336,838,591 shares
         diperdagangkan selama periode 14 Februari                   were    traded     during    the    period     of
         2011 - 21 Februari 2011 dengan harga                        14-21 February 2011 with an exercise price of
         pelaksanaan sebesar Rp5.000 (nilai penuh) per               Rp5,000 (full amount) per share which resulted in
         lembar saham yang mengakibatkan penambahan                  an additional of issued and paid-up capital
         modal ditempatkan dan disetor sebesar                       amounted to Rp1,168,420.
         Rp1.168.420.
    b.   Tambahan modal disetor/agio saham                      b.   Additional paid-in capital/share premium
         Tambahan modal disetor/agio saham pada                      The additional paid-in capital/shares premium as of
         tanggal 31 Desember 2023 dan 2022 sebesar                   31 December 2023 and 2022 amounted to
         Rp17.643.264 berasal dari Penawaran Umum                    Rp17,643,264 from the Limited Public Offering
         Terbatas (“PUT”), Program Rekapitalisasi                    (LPO), the Recapitalization Program (Note 1c) and
         (Catatan 1c) dan penjualan kepemilikan saham                sale of Bank Mandiri’s share ownership in
         Bank Mandiri di PT Usaha Gedung Mandiri                     PT Usaha Gedung Mandiri (“UGM”) and PT Bumi
         (“UGM”) dan PT Bumi Daya Plaza (“BDP”) serta                Daya Plaza (“BDP”) as well as the business
         penggabungan usaha Bank Syariah Mandiri                     merger of Bank Syariah Mandiri (“BSM ”), Bank
         (“BSM”), Bank Rakyat Indonesia Syariah (“BRIS”)             Rakyat Indonesia Syariah (“BRIS”) and Bank
         dan Bank Negara Indonesia Syariah (“BNIS”)                  Negara Indonesia Syariah (“BNIS”) became Bank
         menjadi Bank Syariah Indonesia (“BSI”). Agio                Syariah Indonesia (“BSI”). The shares premium
         saham sebesar Rp17.535.764 termasuk agio                    amounted to Rp17,535,764 including premium
         yang berasal dari PUT (Catatan 40a) sebesar                 from the LPO (Note 40a) amounted to
         Rp10.515.774 sebelum dikurangi dengan biaya-                Rp10,515,774 before deducting the costs related to
         biaya yang terkait PUT sebesar Rp274.078.                   the LPO amounted to Rp274,078. The additional
         Penambahan agio saham di tahun 2013 sebesar                 share premium in 2013 amounted to Rp113,817 in
         Rp113.817 di laporan keuangan konsolidasian                 the consolidated financial statements (Rp273,932
         (Rp273.932 di laporan keuangan Entitas Induk)               in the financial statements of the Parent Entity)
         berasal dari pengalihan kepemilikan saham Bank              came from the transfer of ownership of Bank
         Mandiri di UGM dan BDP kepada entitas-entitas               Mandiri's shares in UGM and BDP to entities under
         sepengendali, yaitu selisih antara harga jual               common control, i.e. the difference between the
         dengan nilai tercatat penyertaan di laporan                 selling price and the carrying amount of the
         keuangan konsolidasian. Penambahan agio                     investment     in   the    consolidated    financial
         saham sebesar Rp327.072 berasal dari                        statements. The additional shares premium of
         penggabungan usaha BSM, BRIS dan BNIS                       Rp327,072 from the merger of BSM, BRIS and
         menjadi BSI.                                                BNIS into BSI.

         Selisih antara harga jual dengan nilai tercatat             The difference between selling price and book
         penyertaan yang dicatat sebagai agio saham di               value of shares recorded as share premium in
         laporan keuangan induk Bank dan laporan                     Parent Entity and consolidated financial statements
         konsolidasian adalah masing-masing sebesar                  are amounted to Rp273,932 and Rp113,817,
         Rp273.932 dan Rp113.817.                                    respectively.
         Berdasarkan hasil dari uji telaah/due diligence             Based on the results of a due diligence review
         review yang dilaksanakan atas nama Pemerintah               conducted on behalf of the Government dated
         tanggal 31 Desember 1999 dan Kontrak                        31 December 1999 and Management Contract
         Manajemen (“IMPA") tanggal 8 April 2000,                    (“IMPA”) dated 8 April 2000, it was decided that
         ditetapkan      bahwa    terdapat    kelebihan              there was an excess on recapitalisation amounted
         rekapitalisasi sebesar Rp4.069.000. Bank telah              to Rp4,069,000. The Bank has refunded
         mengembalikan Rp2.657.000 dari Obligasi                     Rp2,657,000 of Government Recapitalisation
         Rekapitalisasi Pemerintah ke Pemerintah pada                Bonds to the Government on 7 July 2000 pursuant
         tanggal 7 Juli 2000 sesuai dengan kontrak                   to the Management Contract. The remaining
         manajemen. Sedangkan atas sisa kelebihan                    balance of Rp1,412,000 was refunded to the
         sebesar Rp1.412.000 telah dikembalikan kepada               Government on 25 April 2003 based on approval
         Pemerintah pada tanggal 25 April 2003 sesuai                from the shareholders during its meeting on
         dengan persetujuan dari pemegang saham                      29 October 2002 and the Ministry of State-Owned
         dalam rapat tanggal 29 Oktober 2002 dan Surat               Enterprises Decision Letter No. KEP-154/M-
         Keputusan Menteri BUMN No. KEP-154/M-                       MBU/2002 dated 29 October 2002.
         MBU/2002 tanggal 29 Oktober 2002.
         Termasuk di dalam jumlah pengembalian sisa                  The refund for above excess of recapitalisation
         kelebihan    dana      rekapitalisasi  sebesar              amounted to Rp1,412,000 includes a portion of
         Rp1.412.000 di atas adalah bagian dari modal                issued and fully paid capital of Rp251,000.
         ditempatkan dan disetor sebesar Rp251.000.


                                                               314                                    ANNUAL REPORT 2023    1381
Page 875
            MAIN                       MANAGEMENT                        COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                             ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            40. EKUITAS (lanjutan)                                         40. EQUITY (continued)

                b.   Tambahan        modal    disetor/agio     saham             b.   Additional        paid-in   capital/share   premium
                     (lanjutan)                                                       (continued)

                     Pada tanggal 23 Mei 2003, Menteri Keuangan                       On 23 May 2003, the Minister of Finance of the
                     Republik Indonesia telah mengeluarkan Surat                      Republic of Indonesia issued Decree (KMK-RI)
                     Keputusan (KMK - RI) No. 227/KMK.02/2003                         No. 227/KMK.02/2003 dated 23 May 2003, which
                     tanggal 23 Mei 2003 dan kemudian diubah                          was amended by KMK-RI No. 420/KMK.02/2003
                     dengan KMK-RI No. 420/KMK.02/2003 tanggal                        dated 30 September 2003, which provides further
                     30 September 2003 sebagai ketentuan lebih                        guidance on Government Regulations No. 52 year
                     lanjut atas pelaksanaan Peraturan Pemerintah                     1999 and No. 97 year 1999 regarding the final
                     No. 52 tahun 1999 dan No. 97 tahun 1999                          additional Government participation in Bank
                     mengenai jumlah final tambahan penyertaan                        Mandiri’s capital.
                     modal Negara dalam modal Bank Mandiri.

                     Hal-hal yang diputuskan dalam KMK - RI ini                       The following are the matters decided under the
                     adalah sebagai berikut:                                          KMK-RI:
                     a. Nilai final kebutuhan rekapitalisasi Bank                     a. The final Bank Mandiri recapitalisation amount
                         Mandiri adalah sebesar Rp173.801.315;                            is Rp173,801,315;
                     b. Terhadap      dana    rekapitalisasi senilai                  b. The recapitalisation fund of Rp5,000,000 is
                         Rp5.000.000 dikonversi dengan 5.000.000                          converted into 5,000,000 new shares issued
                         lembar saham baru yang diterbitkan oleh                          by Bank Mandiri with a nominal value of
                         Bank Mandiri dengan nilai nominal                                Rp1,000,000 (full amount) per share;
                         Rp1.000.000 (nilai penuh) per lembar
                         saham;
                     c. Terhadap sisa dana rekapitalisasi senilai                     c.    The remaining recapitalisation fund amount of
                         Rp168.801.315 dibukukan sebagai agio                               Rp168,801,315 is recorded as share premium
                         pada struktur modal Bank Mandiri.                                  within the capital structure of Bank Mandiri.
                     Dengan dilaksanakannya kuasi-reorganisasi oleh                   Through      quasi-reorganisation,    the Bank’s
                     Bank, saldo rugi sebelum kuasi-reorganisasi                      accumulated losses as of 30 April 2003 amounted
                     pada    tanggal     30 April  2003    sebesar                    to Rp162,874,901 were eliminated against
                     Rp162.874.901 dieliminasi ke akun tambahan                       additional paid-in capital/share premium.
                     modal disetor/agio.

                c.   Distribusi laba bersih                                      c.   Distribution of net income
                     Dalam Rapat Umum Pemegang Saham Tahunan                          Based on the Annual General Meeting of
                     (“RUPST”) yang diadakan tanggal 14 Maret 2023                    Shareholders (“AGMS”) held on 14 March 2023
                     dan 10 Maret 2022, para pemegang saham                           and 10 March 2022, the shareholders approved
                     menyetujui distribusi laba bersih tahun 2022 dan                 the distribution of the 2022 and 2021 net income
                     2021 sebagai berikut:                                            as follows:
                                                                 2022                      2021

                     Dividen                                      24.702.382               16.816.893                             Dividends
                     Laba ditahan                                                                                         Retained earnings
                         Belum ditentukan
                           penggunaannya                          16.468.255               11.211.262                        Unappropriated
                                                                  41.170.637               28.028.155
                     Dividen per lembar saham                                                                            Dividend per share
                          (nilai penuh)                                 529,34                360,64                         (full amount)

                     Dividen atas laba bersih tahun 2022 sebesar                      Dividends from 2022 net income amounted to
                     Rp24.702.382 dibayarkan pada tanggal 12 April                    Rp24,702,382 were paid on 12 April 2023 and
                     2023 dan dividen atas laba bersih tahun 2021                     dividends from 2021 net income amounted to
                     sebesar Rp16.816.893 dibayarkan pada tanggal                     Rp16,816,893 were paid on 6 April 2022.
                     6 April 2022. Pembagian dividen tersebut                         Distribution of dividends were recorded in the
                     dibukukan sebagai pengurang saldo laba dalam                     Consolidated Statements of Changes in Equity
                     Laporan Perubahan Ekuitas Konsolidasian                          with approval from RUPST.
                     sesuai dengan persetujuan RUPST.




1382 PT Bank Mandiri (Persero) Tbk                                           315
Page 876
     CORPORATE                 ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                        Financial
     GOVERNANCE                & PRACTICES                    RESPONSIBILITY                          KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)

40. EKUITAS (lanjutan)                                        40. EQUITY (continued)

    d.   Saham treasuri                                          d.   Treasury stock
         Bank melakukan pembelian kembali saham Bank                  The Bank buyback its shares which was triggered
         yang dipicu oleh perlambatan dan tekanan                     by a slowdown and economic pressure both
         ekonomi baik secara regional dan nasional yang               regionally and nationally, among others, was
         antara lain disebabkan oleh wabah Covid-19.                  caused by the Covid-19 outbreak. Furthermore, the
         Selanjutnya, kondisi perdagangan saham di                    condition of stock trading on the Indonesia Stock
         Bursa Efek Indonesia sejak awal tahun 2020                   Exchange from the beginning of 2020 to
         sampai dengan tanggal 9 Maret 2020 mengalami                 9 March 2020 experienced significant pressure as
         tekanan yang signifikan yang diindikasikan dari              indicated by a decrease in the Composite Stock
         penurunan Indeks Harga Saham Gabungan                        Price Index (“IHSG”) of 18.46%. Furthermore, in
         (“IHSG”) sebesar 18,46%. Selanjutnya, untuk                  order to provide an economic stimulus and reduce
         memberikan       stimulus   perekonomian     dan             the impact of a significantly fluctuating market,
         mengurangi dampak pasar yang berfluktuasi                    Financial Service Authority (FSA) issued SEOJK
         secara signifikan maka OJK mengeluarkan                      No. 3/SEOJK.04/2020, to ease Issuers or Public
         SEOJK No. 3/SEOJK.04/2020, yang bertujuan                    Companies to carry out corporate action to buy
         untuk memberi kemudahan bagi Emiten atau                     back shares without violating applicable laws and
         Perusahaan Publik untuk melakukan aksi                       regulations. This is one of the considerations for
         korporasi pembelian saham kembali tanpa                      the Bank to carry out the buyback process.
         melanggar peraturan perundang-undangan yang
         berlaku. Hal ini menjadi salah satu pertimbangan
         bagi Bank untuk melakukan proses pembelian
         kembali saham (buyback).

         Dalam hal pembelian kembali saham, Bank                      For the share buyback, the Bank also refers to
         mengacu         pada         Peraturan        OJK            FSA Regulation No. 2/POJK.04/2013 regarding the
         No. 2/POJK.04/2013 tentang Pembelian Kembali                 Buyback Shares Issued by Issuers or Public
         Saham Yang Dikeluarkan Oleh Emiten atau                      Companies in Market Conditions that Flu ctuate
         Perusahaan Publik Dalam Kondisi Pasar Yang                   Significantly ("POJK No. 2/POJK.04/2013") as
         Berfluktuasi    Secara      Signifikan     (“POJK            amended by POJK No. 13 Year 2023 regarding
         No. 2/POJK.04/2013”)      sebagaimana       diubah           Policy    In    Maintaining    Performance       And
         dengan POJK No. 13 Tahun 2023 Tentang                        Capital Market Stability In Significantly Fluctuating
         Kebijakan Dalam Menjaga Kinerja Dan Stabilitas               Market Conditions. FSA Circular Letter No.
         Pasar Modal Pada Kondisi Pasar Yang                          3/SEOJK.04/2020 regarding Other Conditions as
         Berfluktuasi Secara Signifikan. Surat Edaran OJK             Market Conditions with Significant Fluctuation in
         No. 3/SEOJK.04/2020 tentang Kondisi Lain                     the Implementation of Share Buybacks Issued by
         Sebagai Kondisi Pasar Yang Berfluktuasi Secara               Issuers or Public Companies ("SEOJK No.
         Signifikan Dalam Pelaksanaan Pembelian                       3/SEOJK.04/2020").
         Kembali Saham Yang Dikeluarkan Oleh Emiten
         Atau      Perusahaan         Publik      (“SEOJK
         No. 3/SEOJK.04/2020”).

         Pembelian kembali saham Bank dilakukan                       The buyback of the shares were carried out in
         secara bertahap untuk periode 3 (tiga) bulan                 stages for a period of 3 (three) months starting
         terhitung sejak tanggal 20 Maret 2020 sampai                 from 20 March 2020 to 19 June 2020, where the
         dengan 19 Juni 2020 dimana pelaksanaan                       buyback transactions were carried out through the
         transaksi pembelian saham dilaksanakan melalui               Indonesia Stock Exchange. Until the period of
         Bursa Efek Indonesia. Sampai dengan periode                  share buyback, the Bank has bought back
         Pembelian Kembali Saham tersebut, Bank                       35,400,000 (full amount) shares with a total
         membeli kembali 35.400.000 (angka penuh)                     acquisition value of Rp150,895 which are recorded
         lembar saham dengan total nilai perolehan                    as treasury shares, which are a deduction of
         sebesar Rp150.895 yang dicatat sebagai saham                 equity.
         treasuri yang merupakan pengurang ekuitas.

         Sesuai dengan Keterbukaan Informasi Bank                     In accordance with the Bank's Disclosure of
         pada tanggal 17 Juni 2022, per tanggal                       Information on 17 June 2022, as of 31 December
         31 Desember 2022 Bank sudah tidak memiliki                   2022 the Bank no longer owns treasury shares.
         saham treasuri. Berdasarkan keputusan Rapat                  Based on the decision of the Bank's Annual
         Umum Pemegang Saham Tahunan Bank tanggal                     General Meeting of Shareholders on 10 March
         10 Maret 2022 antara lain telah disetujui                    2022, among others, it has been approved the
         pengalihan saham hasil pembelian kembali                     transfer of shares resulting from the buyback in
         saham (buyback) pada tahun 2020 yang                         2020 which are kept as treasury shares of the
         disimpan sebagai saham treasuri (treasury stock)             Bank in the amount of 35,400,000 (thirty five
         Bank sejumlah 35.400.000 (tiga puluh lima juta               million four hundred thousand) shares, on 15 June
         empat ratus ribu) lembar saham, pada tanggal                 2022 the Bank has completed the entire process of
         15 Juni 2022 Bank telah menyelesaikan seluruh                transferring the shares resulting from the buyback
         proses pengalihan saham hasil buyback tersebut               to the Bank's employees through the ESOP
         kepada pegawai Bank melalui program ESOP                     program in the amount of 35,400,000 (thirty five
         sejumlah 35.400.000 (tiga puluh lima juta empat              million four hundred thousand) shares to 3,036
         ratus ribu) lembar saham kepada 3.036 pegawai.               employees

                                                                316                                    ANNUAL REPORT 2023     1383
Page 877
            MAIN                       MANAGEMENT                        COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                          ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            40. EKUITAS (lanjutan)                                         40. EQUITY (continued)
                e.   Pengalihan sebagian saham Seri B milik                      e.   Transfer of part of the Series B shares owned
                     Negara Republik Indonesia kepada Indonesia                       by the Republic of Indonesia to the Indonesia
                     Investment Authority                                             Investment Authority
                     Berdasarkan Peraturan Pemerintah RI No. 111                      Based on Government Regulation of the Republic
                     Tahun 2021 tentang Penambahan Penyertaan                         of Indonesia No. 111 of 2021 concerning the
                     Modal Negara Republik Indonesia ke dalam                         Addition of the State Equity Participation of the
                     Modal Lembaga Pengelola Investasi telah                          Republic of Indonesia into the Capital of the
                     ditetapkan penambahan penyertaan modal                           Investment Management Institution, it has been
                     negara kepada Lembaga Pengelola Investasi                        stipulated that the addition of the state's equity
                     (dalam hal ini Indonesia Investment Authority).                  participation to the Investment Management
                     Penambahan penyertaan modal tersebut berasal                     Institution (in this case the Indonesia Investment
                     dari pengalihan sebagian saham seri B milik                      Authority). The additional shares participation
                     Negara Republik Indonesia pada Bank.                             comes from the transfer of part of the Series B
                                                                                      shares owned by the Republic of Indonesia to the
                                                                                      Bank.
                     Selanjutnya sesuai dengan Akta Notaris No. 32                    Furthermore, according to the Notary Deed No. 32
                     tanggal 23 Desember 2021 tentang Perjanjian                      dated 23 December 2021 regarding the Agreement
                     Pengalihan Hak atas Saham Negara Republik                        on the Transfer of Rights to the Shares of the
                     Indonesia pada Perusahaan Perseroan (Persero)                    Republic of Indonesia in PT Bank Mandiri
                     PT Bank Mandiri (Persero) Tbk kepada dan                         (Persero) Tbk. to and with the purpose of addition
                     Dalam Rangka Penambahan Penyertaan Modal                         of the State Equity Participation of the Republic of
                     Negara Republik Indonesia ke dalam Modal                         Indonesia into the Capital of the Investment
                     Lembaga Pengelola Investasi, yang dibuat oleh                    Management Institution, made by Fathiah Helmi
                     Fathiah Helmi S.H., pengalihan sebagian saham                    S.H., the transfer of part of the Series B shares
                     seri B milik Negara Republik Indonesia pada                      belonging to the Republic of Indonesia in the Bank
                     Bank kepada Indonesia Investment Authority                       to the Indonesia Investment Authority has been
                     telah efektif setelah ditandantanganinya Akta                    effective after the signing of the Deed on
                     tersebut pada tanggal 23 Desember 2021.                          23 December 2021.
                     Pengalihan sebagian saham seri B milik Negara                    The transfer of part of the Series B shares owned
                     Republik Indonesia pada Bank kepada Indonesia                    by the Republic of Indonesia in the Bank to the
                     Investment Authority sejumlah 3.733.333.333                      Indonesia Investment Authority in the amount of
                     lembar saham atau sebesar 8%, sehingga saham                     3,733,333,333 shares or 8%, so that the Series B
                     seri B milik Negara Republik Indonesia pada                      shares owned by the Republic of Indonesia in the
                     Bank menjadi sejumlah 24.266.666.666 lembar                      Bank became 24,266,666,666 shares or 52%.
                     saham atau sebesar 52%.

            41. PENDAPATAN           BUNGA     DAN      PENDAPATAN         41. INTEREST INCOME AND SHARIA INCOME
                SYARIAH
                Pendapatan bunga dan pendapatan syariah adalah                   Interest income and sharia income are as follow:
                sebagai berikut:
                                                                 2023                   2022

                 Pendapatan bunga                                                                                        Interest income
                 Kredit yang diberikan                            84.335.234            69.373.441                                 Loans
                 Obligasi pemerintah                              16.410.277            16.771.870                   Government bonds
                 Pendapatan pembiayaan konsumen                    6.285.050             4.962.803           Consumer financing income
                 Penempatan pada Bank Indonesia                                                          Placements with Bank Indonesia
                  dan bank lain                                    3.224.536             1.445.773                    and other banks
                 Efek-efek                                         2.742.203             2.795.951                 Marketable securities
                 Tagihan lainnya – transaksi                                                                   Others receivables - trade
                  perdagangan                                          712.280             552.983                        transactions
                 Marjin                                                 32.979              32.373                                 Margin
                 Lain-lain                                               5.062               8.681                                 Others
                                                                 113.747.621            95.943.875
                 Pendapatan syariah                                                                                         Sharia income
                 Keuntungan murabahah dan
                   istishna bersih                                12.646.821            11.446.687            Net murabahah and istishna
                 Bagi hasil musyarakah                             5.853.512             4.727.321              Musyarakah profit sharing
                 Ijarah bersih                                       199.037               122.195                            Net ijarah
                 Bagi hasil mudharabah                                97.479               142.040             Mudharabah profit sharing
                                                                  18.796.849            16.438.243
                                                                 132.544.470           112.382.118


1384 PT Bank Mandiri (Persero) Tbk                                           317
Page 878
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


41. PENDAPATAN       BUNGA         DAN      PENDAPATAN         41. INTEREST         INCOME      AND      SHARIA      INCOME
    SYARIAH (lanjutan)                                             (continued)

    Termasuk dalam pendapatan bunga dari kredit yang                 Included in interest income from loans is interest
    diberikan adalah pendapatan bunga atas bagian yang               income recognised on the non-impaired portion of the
    tidak mengalami penurunan nilai dari kredit yang                 impaired loans for the year ended 31 December 2023
    mengalami penurunan nilai untuk tahun yang berakhir              and 2022 amounted to Rp319,605 and Rp294,592 and
    pada tanggal 31 Desember 2023 dan 2022 masing-                   fees and commissions income directly attributable to
    masing sebesar Rp319.605 dan Rp294.592 dan                       lending activities amortised using effective interest rate
    pendapatan bunga dari provisi dan komisi yang                    method for the year ended 31 December 2023 and
    berkaitan langsung dengan kegiatan pemberian kredit              2022 amounted to Rp2,744,344 and Rp2,921,410,
    yang diamortisasi berdasarkan metode suku bunga                  respectively.
    efektif untuk tahun yang berakhir pada tanggal
    31 Desember 2023 dan 2022 masing-masing sebesar
    Rp2.744.344 dan Rp2.921.410.

    Pada tanggal 31 Desember 2023 dan 2022, termasuk                 As of 31 December 2023 and 2022 included in interest
    dalam pendapatan bunga dan pendapatan syariah di                 income and sharia income was income from
    atas adalah pendapatan dari pihak berelasi terkait               transaction with related parties on government bonds
    transaksi obligasi pemerintah dan SPN masing-                    and treasury bills amounted to Rp16,410,277 and
    masing sebesar Rp16.410.277 dan Rp16.771.870                     Rp16,771,870, respectively (Note 56).
    (Catatan 56).


42. BEBAN BUNGA DAN BEBAN SYARIAH                              42. INTEREST EXPENSE AND SHARIA EXPENSE

    Rincian beban bunga dan beban syariah terdiri atas:              Interest expense and sharia expense are incurred on the
                                                                     following:

                                                     2023                   2022

     Beban bunga                                                                                               Interest expense
     Giro                                             10.601.021             5.517.701                        Demand deposits
     Deposito berjangka                                9.480.299             7.130.837                            Time deposits
     Pinjaman yang diterima                            4.624.638             2.509.641                        Fund borrowings
     Efek-efek yang diterbitkan                        2.484.487             2.320.021                   Debt securities issued
     Tabungan                                          2.082.251             1.983.441                          Saving deposits
     Efek-efek yang dijual dengan janji                                                      Securities sold under agreements
        dibeli kembali (repo)                          1.390.571               983.166                  to repurchase (repo)
     Pinjaman dan efek - efek                                                                          Subordinated loans and
        subordinasi                                          1.461                 1.788               marketable securities

                                                      30.664.728            20.446.595


                                                     2023                   2022

     Beban syariah                                                                                             Sharia expense
     Deposito mudharabah                               4.148.029             2.874.965              Mudharabah time deposits
     Musytarakah - mudharabah                                                                      Musytarakah - mudharabah
        musytarakah                                        812.767             387.406                         musytarakah
     Tabungan mudharabah                                   466.655             564.411            Mudharabah saving deposits
     Pembiayaan yang diterima                              254.035              12.603                        Fund borrowings
     Sertifikat investasi                                                                               Interbank Mudharabah
        mudharabah antarbank                               192.366             132.936               Investment Certificates
     Investasi terikat                                     119.316              59.848                 Restricted investments

                                                       5.993.168             4.032.169

                                                      36.657.896            24.478.764




                                                                 318                                       ANNUAL REPORT 2023     1385
Page 879
            MAIN                       MANAGEMENT                          COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                             PROFILE                          ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)

            42. BEBAN BUNGA DAN BEBAN SYARIAH (lanjutan)                     42. INTEREST EXPENSE             AND     SHARIA     EXPENSE
                                                                                 (continued)

                Termasuk dalam beban bunga dan beban syariah di                    Included in interest expense and sharia expense are
                atas adalah beban bunga dari transaksi dengan                      interest expense from related parties transactions related
                pihak-pihak berelasi terkait beban bunga atas                      to interest expense of fund borrowing for the year ended
                pinjaman yang diterima untuk tahun yang berakhir                   31 December 2023 and 2022 amounted to Rp80,863
                pada tanggal 31 Desember 2023 dan 2022 masing-                     and Rp31,672, respectively (Note 56).
                masing sebesar Rp80.863 dan Rp31.672 (Catatan
                56).


            43. PENDAPATAN PROVISI DAN KOMISI                                43. FEES AND COMMISIONS

                                                                 2023                     2022

                 Kredit yang diberikan dan                                                                                              Loans
                    piutang/pembiayan syariah                      4.464.991               3.954.380      and sharia receivables/financing
                 Transaksi e-channel                               3.891.213               3.821.188                 E-channel transactions
                 Transaksi simpanan                                3.000.540               2.830.370                    Deposit transactions
                 Kartu kredit                                      2.772.976               2.305.867                             Credit cards
                 Pengiriman uang, kliring dan                                                                    Remittances, clearings and
                    inkaso                                         1.717.102               1.104.758                            collections
                 Transaksi perdagangan                             1.570.871               1.464.015                      Trade transactions
                 Efek-efek                                         1.274.341               1.337.244                   Marketable securities
                 Penasihat Keuangan                                  398.818               1.288.663                        Financial advisor
                 Kustodian dan wali amanat                           277.576                 248.109                  Custodian and trustee
                 Bancassurance dan reksadana                          97.000                 171.623       Bancassurance and mutual funds
                 Pendapatan ganti rugi                                                                          Restructuring compensation
                    restrukturisasi (ta'wid)                             32.214               31.530                       income (ta'wid)
                 Lain-lain                                              650.768              244.401                                  Others

                                                                  20.148.410              18.802.148


                Lain-lain terutama terdiri dari pendapatan provisi dan             Others mainly consist of fees and commissions from
                komisi dari asuransi terkait kredit/pembiayaan yang                loans/financing insurance, cash management fees, short
                diberikan, fee cash management, fee notifikasi                     message service (SMS) notification fees to customers,
                melalui short message service (SMS) kepada                         tax payment distribution service fees, and Livin’ point
                nasabah, fee jasa pelayanan penyaluran pembayaran                  redemption fees.
                pajak, dan fee redemption Livin’ point.


            44. PENDAPATAN DARI KELOMPOK NILAI WAJAR                         44. INCOME FROM FAIR VALUE THROUGH PROFIT OR
                MELALUI LABA RUGI - NETO                                         LOSS CLASSIFICATION - NET

                                                                 2023                     2022

                 Keuntungan atas transaksi                                                                             Gain from derivatives
                    derivatif - neto                               1.760.204               2.734.125                    transactions - net
                 Keuntungan/(kerugian) dari
                    penjualan - neto                               1.017.536                (137.458)            Gain/(loss) from sales - net
                 Pendapatan bunga                                    641.205                  811.673                         Interest income
                 Keuntungan yang belum                                                                                 Unrealised gain/(loss)
                    direalisasi dari kenaikan nilai                                                                   from incrase/decrease
                       wajar - neto                                      54.851                86.069                     in fair value - net
                 Perubahan nilai wajar investasi dari                                                                Changes in fair value of
                    Investasi pemegang polis                           (933.091)           1.236.623             policyholders’ investment
                 Penurunan liabilitas                                                                                 Decrease in unit-link
                    kontrak unit-link                                   933.091           (1.236.623)                     contracts liability

                 Total                                             3.473.796               3.494.409                                    Total




1386 PT Bank Mandiri (Persero) Tbk                                             319
Page 880
     CORPORATE                 ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                            Financial
     GOVERNANCE                & PRACTICES                        RESPONSIBILITY                          KEUANGAN   2023
                                                                                                            Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)

45. PENDAPATAN OPERASIONAL LAINNYA - LAIN-                       45. OTHER OPERATING INCOME – OTHERS
    LAIN

                                                     2023                   2022


     Penerimaan kembali atas pokok kredit                                                           Recoveries from written-off
        dan piutang/pembiayaan syariah                                                          loans and sharia receivables/
        yang telah dihapusbukukan                     11.659.856             7.830.026                     financing principal
     Pendapatan administrasi dan                                                                       Other administration and
        komisi lainnya                                 1.883.199             1.962.664                   commission income
     Pendapatan dividen reksadana dan                                                        Dividend income from mutual fund
        investasi saham                                     935.681            654.297                and shares investment
     Pendapatan denda                                       874.039            696.574                           Penalty income
     Penerimaan kembali atas bunga                                                                                Recovery from
        kredit yang telah                                                                                           written-off
        dihapusbukukan                                      499.361            221.623                    interest from loans
     Pendapatan sewa mesin                                                                    Electronic Data Capture (“EDC”)
        Electronic Data Capture (“EDC”)                     384.437             65.094                            rent income
     Keuntungan dari penyertaan                              75.238            221.830                       Investment Income
     Pendapatan bea materai                                  58.961             60.243                       Stamp duty income
     Safety deposit box                                      38.231             39.901                        Safety deposit box
     Lain-lain                                              491.637            231.894                                    Others

     Total                                            16.900.640            11.984.146                                    Total




46. PEMBENTUKAN             CADANGAN            KERUGIAN         46. ALLOWANCE FOR IMPAIRMENT LOSSES
    PENURUNAN NILAI

                                                     2023                   2022


     (Pembentukan)/pembalikan cadangan                                                     (Allowance)/reversal for provision of
        kerugian penurunan nilai atas:                                                                   impairment losses on:
     Giro pada bank lain                                                                     Current accounts with other banks
        (Catatan 5d)                                        (11.800)               5.165                              (Note 5d)
     Penempatan pada bank lain                                                                     Placements with other banks
        (Catatan 6e)                                           2.418            (1.948)                               (Note 6e)
     Efek-efek (Catatan 7g)                                (132.628)            26.899          Marketable securities (Note 7g)
     Tagihan lainnya - transaksi                                                                       Other receivables - trade
        perdagangan (Catatan 9d)                             91.037            (27.813)                  transactions (Note 9d)
     Kredit yang diberikan                                                                                                Loans
        (Catatan 12A.e, 12B.j)                        (9.791.701)         (15.451.121)                    (Note 12A.e, 12B.j)
     Piutang pembiayaan konsumen                                                                Consumer financing receivables
        (Catatan 13d)                                 (1.277.661)            (708.402)                             (Note 13d)
     Investasi bersih dalam sewa                                                                 Net investment finance leases
        pembiayaan (Catatan 14d)                             (7.120)           (32.438)                            (Note 14d)
     Tagihan akseptasi (Catatan 15d)                        (59.315)           146.934      Acceptance receivables (Note 15d)
     Penyertaan saham (Catatan 16c)                           33.917           (53.658)        Investments in shares (Note16c)

     Total                                           (11.152.853)         (16.096.382)                                    Total




                                                                   320                                      ANNUAL REPORT 2023     1387
Page 881
            MAIN                       MANAGEMENT                         COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            47. PEMBENTUKAN PENYISIHAN LAINNYA                     DAN      47. PROVISION FOR OTHER ALLOWANCES                      AND
                KERUGIAN RISIKO OPERASIONAL - NETO                              OPERATIONAL RISK LOSSES - NET

                                                                 2023                  2022

                 (Pembentukan)/pembalikan                                                                  (Allowance)/reversal provision
                    penyisihan atau beban atas:                                                                             or expenses of:
                 Estimasi kerugian yang timbul                                                                   Estimated losses arising
                    dari kasus hukum                                    20.451             11.353                      from legal cases
                 Kerugian risiko operasional -                                                              Losses from operational risk -
                    klien, produk &                                                                                    business activity
                    praktek bisnis                                        (149)               (821)       disruption and system failure
                 Kerugian risiko operasional -                                                            Operational Risk Loss Bucket -
                    kerusakan aset fisik                                  (436)               (109)           Physical Asset Damage
                 Denda/sanksi                                           (1.006)               (502)                           Fines/penalty
                 Kerugian risiko operasional -                                                                    Operational Risk Loss -
                    gangguan aktivitas bisnis                                                                     Business Disruption
                    dan kegagalan sistem                                (2.670)            (3.172)                 and System Failure
                 Kerugian risiko operasional -                                                               Losses from operational risk
                    Manajemen eksekusi,                                                                      - Management execution,
                    pengiriman & pemrosesan                            (10.193)           (41.610)           delivering and processing
                 Kerugian risiko operasional -                                                               Losses from operational risk
                    kecurangan eksternal                               (22.080)           (44.671)                       - external fraud
                 Kerugian risiko operasional -                                                               Losses from operational risk
                    kecurangan internal                                (52.002)          (15.411)                         - internal fraud
                 Aset lain-lain (Catatan 20)                           153.700          (187.130)                  Other assets (Note 20)

                 Total                                                  85.615          (282.073)                                    Total



            48. KEUNTUNGAN DARI PENJUALAN EFEK-EFEK DAN                     48. GAIN ON SALE OF MARKETABLE SECURITIES
                OBLIGASI PEMERINTAH - NETO                                      AND GOVERNMENT BONDS - NET

                                                                 2023                  2022

                 Obligasi pemerintah                                    65.666            643.693                    Government bonds
                 Efek-efek                                              59.629            255.886                   Marketable securities

                 Total                                                 125.295            899.579                                    Total



            49. BEBAN GAJI DAN TUNJANGAN                                    49. SALARIES AND EMPLOYEE BENEFITS EXPENSES

                                                                 2023                  2022

                 Gaji, upah, pensiun dan                                                                    Salaries, wages, pension and
                    tunjangan pajak                               13.197.224           12.374.788                        tax allowances
                 Bonus dan lainnya                                 3.911.252            5.295.609                     Bonuses and others
                 Tunjangan Hari Raya (THR),                                                                 Religious holidays allowance,
                    cuti dan beban terkait lainnya                 2.974.092            2.798.097     leave and other related expenses
                 Kesejahteraan pegawai                             1.861.634            1.932.576               Employee benefits in kind
                 Penyisihan cadangan tantiem                       1.097.048              832.292                    Provision for tantiem
                 Pembentukan penyisihan cadangan                                                                Allowance of provision for
                    uang penghargaan pegawai                           890.059            868.322            post-employment benefits
                 Pendidikan dan pelatihan                              491.780            540.062                  Training and education

                 Total                                            24.423.089           24.641.746                                    Total




1388 PT Bank Mandiri (Persero) Tbk                                            321
Page 882
     CORPORATE                  ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                           Financial
     GOVERNANCE                 & PRACTICES                     RESPONSIBILITY                           KEUANGAN   2023
                                                                                                           Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


49. BEBAN GAJI DAN TUNJANGAN (lanjutan)                        49. SALARIES AND EMPLOYEE BENEFITS EXPENSES
                                                                   (continued)

    Jumlah gaji dan tunjangan, bonus dan tantiem,                      Total gross salaries and allowances, bonus and
    imbalan kerja jangka panjang Dewan Komisaris,                      tantiem, long-term employment benefits of the Boards
    Direksi, Komite Audit dan Komite Pemantau Risiko,                  of Commissioners, Directors, Audit Committee and Risk
    Dewan Pengawas Syariah, serta Senior Executive                     Oversight Committee, Sharia Supervisory Board and
    Vice President dan Senior Vice President masing-                   Senior Executive Vice President and Senior Vice
    masing sebesar Rp2.030.660 dan Rp1.837.516                         President are amounted to Rp2,030,660 and
    (Catatan 56) untuk tahun yang berakhir pada tanggal                Rp1,837,516 (Note 56) for the year ended
    31 Desember 2023 dan 2022, dengan rincian sebagai                  31 December 2023 and 2022, respectively, as follows:
    berikut:

                                                                   2023

                                                                          Imbalan
                                         Gaji dan                       kerja jangka
                                        Tunjangan/     Bonus dan          panjang/
                                         Salaries       Tantiem/         Long-term
                                            and        Bonus and        employment
                                        allowance       tantiem           benefits        Total


    Dewan Komisaris                          87.448        208.595             7.087       303.130 The Board of Commissioners
    Direksi                                 268.315        557.623            32.982       858.920                    Directors
    Komite Audit dan                                                                                      Audit Committee and
       Komite Pemantau Risiko                  7.229            269              231         7.729 Risk Oversight Committee
    Dewan Pengawas Syariah                     2.857          4.005                -         6.862    Sharia Supervisory Board
    Senior Executive                                                                                          Senior Executive
       Vice President dan                                                                                Vice Presidents and
       Senior Vice President                507.297        319.343            27.379       854.019     Senior Vice President

    Total                                    873.146       1.089.835           67.679      2.030.660                         Total



                                                                   2022

                                                                          Imbalan
                                         Gaji dan                       kerja jangka
                                        Tunjangan/     Bonus dan          panjang/
                                         Salaries       Tantiem/         Long-term
                                            and        Bonus and        employment
                                        allowance       tantiem           benefits        Total


    Dewan Komisaris                          81.674        179.241             5.959       266.874 The Board of Commissioners
    Direksi                                 236.859        465.350            24.670       726.879                    Directors
    Komite Audit dan                                                                                      Audit Committee and
       Komite Pemantau Risiko                  7.523            432               22         7.977 Risk Oversight Committee
    Dewan Pengawas Syariah                     2.906          3.170                -         6.076    Sharia Supervisory Board
    Senior Executive                                                                                          Senior Executive
       Vice President dan                                                                                Vice Presidents and
       Senior Vice President                466.432        340.129            23.149       829.710     Senior Vice President

    Total                                   795.394        988.322            53.800     1.837.516                        Total




                                                                  322                                      ANNUAL REPORT 2023        1389
Page 883
            MAIN                       MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                         ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            50. BEBAN UMUM DAN ADMINISTRASI                                50. GENERAL AND ADMINISTRATIVE EXPENSES

                                                                 2023                  2022

                Jasa profesional                                   4.722.209             5.144.072                      Professional fees
                Barang/jasa pihak ketiga                                                                   Goods/services provided by
                  lainnya                                          3.338.043             2.967.607                        third parties
                Promosi                                            2.303.064             2.077.000                              Promotion
                Perbaikan dan pemeliharaan                         1.863.193             1.776.904            Repairs and maintenance
                Penyusutan aset hak guna                                                              Depreciation of right of use assets
                  (Catatan 18a)                                    1.772.254             1.852.876                          (Note 18a)
                Penyusutan aset tetap yang dimiliki                                                        Depreciation of fixed assets
                  (Catatan 18a)                                    1.640.978             1.565.310                          (Note 18a)
                Amortisasi aset takberwujud                                                            Amortisation of intangible assets
                  (Catatan 19)                                     1.153.670             1.095.451                            (Note 19)
                Komunikasi                                         1.145.675             1.454.794                        Communication
                Keperluan kantor                                   1.118.673               883.617                         Office supplies
                Sewa                                                 813.808               897.454                                    Rent
                Transportasi                                         673.456               602.830                        Transportations
                Listrik, air dan gas                                 510.922               527.378            Electricity, water and gas
                Pajak selain pajak penghasilan                       249.826               234.587           Tax other than income tax
                Perjalanan dinas                                     242.237               172.226                               Traveling
                Zakat                                                189.730               141.405                                   Zakat
                Premi asuransi                                       182.542               100.714                   Insurance premium
                Tanggung jawab sosial dan                                                                     Social and environmental
                  lingkungan                                           174.673              52.902                       responsibility
                Bunga atas liabilitas sewa                                                                      Interest on lease liability
                  (Catatan 18a)                                         69.114             64.025                          (Note 18a)
                Keamanan                                                43.110             52.054                                 Security
                Program pemerintah                                      22.103             54.108                  Government program
                Rekrutmen                                               15.031             15.571                             Recruitment
                Lain-lain                                              488.583            369.667                                  Others

                Total                                             22.732.894           22.102.552                                    Total

                Untuk   tahun   yang   berakhir   pada   tanggal                 For the year ended 31 December 2023 and 2022,
                31 Desember 2023 dan 2022, beban promosi                         promotions expenses include the reward/prize
                termasuk beban hadiah undian dana pihak ketiga                   expenses of third party funds amounted to Rp51,116
                masing-masing sebesar Rp51.116 dan Rp55.423.                     and Rp55,423, respectively.

                Tanggung Jawab Sosial dan Lingkungan (“TJSL”)                    Social and environmental responsibility (“TJSL”) is an
                merupakan       komitmen     berkelanjutan   untuk               ongoing commitment to contribute to economic
                memberikan kontribusi kepada pengembangan                        development and the Bank's concern for the
                ekonomi dan kepedulian Bank kepada masyarakat.                   community. Based on the Regulation of Minister of
                Berdasarkan Peraturan Menteri Badan Usaha Milik                  State-Owned Enterprises Number PER-1/MBU/03/2023
                Negara     Nomor     PER-1/MBU/03/2023     tentang               regarding Special Assignments and Social and
                Penugasan Khusus dan Program Tanggung Jawab                      Environmental Responsibility Programs of State-Owned
                Sosial dan Lingkungan Badan Usaha Milik Negara                   Enterprises (“SOE”) stated that the SOE's TJSL
                bahwa Program TJSL BUMN dilakukan secara                         Program is carried out in a systematic and integrated
                sistematis dan terpadu untuk menjamin pelaksanaan,               manner to ensure the implementation, success
                pencapaian keberhasilan serta pengelolaan dampak                 achievement and management of the impact of the
                Program TJSL BUMN sesuai dengan prioritas                        SOE's TJSL Program in accordance with the priorities
                dan/atau pencapaian dari tujuan Program TJSL                     and/or achievement of the objectives of the SOE's
                BUMN yang berpedoman pada rencana kerja Bank.                    TJSL Program which guided by the Bank’s work plan.
                Pelaksanaan Program TJSL PT Bank Mandiri                         The implementation of the PT Bank Mandiri (Persero)
                (Persero) Tbk. yaitu dalam bentuk bantuan dan/atau               Tbk. TJSL Program is in the form of support and/or
                kegiatan    lainnya   dan    dilaksanakan  dengan                other activities and is carried out with a focus on
                mengutamakan fokus bidang pendidikan, lingkungan,                education, environment, and development of micro and
                dan pengembangan usaha mikro dan usaha kecil.                    small businesses. Realization of the on balance sheet
                Pada tanggal 31 Desember 2023 dan 2022, realisasi                as of 31 December 2023 and 2022 was Rp174,673 and
                pencapaian TJSL berdasarkan anggaran kegiatan                    Rp52,902, respectively, while from the off balance
                yang diperhitungkan sebagai biaya pada BUMN                      sheet as of 31 December 2023 and 2022 were RpNil
                dalam tahun anggaran berjalan (on balance sheet)                 and Rp84,728, respectively.
                sebesar Rp174.673 dan Rp52.902 sedangkan
                realisasi pencapaian TJSL berdasarkan penyisihan
                sebagian laba bersih BUMN pada tanggal
                31 Desember 2023 dan 2022 (off-balance sheet)
                sebesar RpNihil dan Rp84.728.



1390 PT Bank Mandiri (Persero) Tbk                                           323
Page 884
     CORPORATE                 ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                  RESPONSIBILITY                           KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


50. BEBAN UMUM DAN ADMINISTRASI (lanjutan)                  50. GENERAL        AND    ADMINISTRATIVE        EXPENSES
                                                                (continued)

    Lain-lain terutama terdiri dari beban penelitian &          Others is consist of research and development
    pengembangan, beban agency, beban keanggotaan               expenses, agency expenses, membership fee
    depository bank, beban izin perwakilan luar negeri          depository Bank, overseas representative expenses
    dan beban representasi.                                     and representation exprenses.


51. DANA PENSIUN DAN PESANGON                               51. PENSION PLAN AND SEVERANCE PAY

    Sesuai dengan kebijakan Bank, selain gaji, pegawai          Under the Bank’s policy, other than salaries, employees
    juga mendapatkan fasilitas dan tunjangan berupa             are entitled to allowances and benefits, such as
    Tunjangan Hari Raya (THR), fasilitas kesehatan, uang        religious holiday allowance, medical reimbursements,
    duka dan santunan duka, tunjangan cuti, fasilitas           bereavement money and benefits, leave allowance,
    jabatan untuk jabatan tertentu, program pensiun untuk       functional allowance for certain levels, pension plan for
    pegawai tetap, insentif sesuai dengan kinerja pegawai       permanent employees, incentives based on employee’s
    dan Bank serta manfaat untuk pegawai yang berhenti          and the Bank’s performance and post-employment
    bekerja sesuai dengan Undang-undang di Bidang               benefits in accordance with prevailing Employment Law
    Ketenagakerjaan dan Perjanjian Kerja Bersama Bank           and Bank Mandiri Collective Labor Agreement.
    Mandiri.

    Dana pensiun                                                Pension plan

    Bank Mandiri memiliki 5 (lima) Dana Pensiun yang            Bank Mandiri has 5 (five) Pension Funds in the form of
    berbentuk Dana Pensiun Pemberi Kerja (DPPK) yang            Employer Pension Funds (DPPK) consisting of 1 (one)
    terdiri dari 1 (satu) Dana Pensiun yang                     Pension Fund that organizes a Defined Contribution
    menyelenggarakan Program Pensiun Iuran Pasti                Pension Program (PPIP) and 4 (four) Pension Funds
    (PPIP) dan 4 (empat) Dana Pensiun yang                      that organizes a Defined Benefit Pension Program
    menyelenggarakan Program Pensiun Manfaat Pasti              (PPMP) as follows:
    (PPMP) sebagai berikut:

    a.   Dana Pensiun Bank Mandiri (Program Pensiun             a.   Bank Mandiri Pension Fund (Defined Contribution
         Iuran Pasti)                                                Pension Program)

         Dana     Pensiun      Bank     Mandiri   yang               Dana Pensiun Pemberi Kerja Program Pensiun
         menyelenggarakan Program Pensiun Iuran Pasti                Iuran Pasti (DPPK-PPIP) or Bank Mandiri Pension
         (DPPK - PPIP) didirikan pada tanggal 1 Agustus              Fund (Dana Pensiun Bank Mandiri (DPBM)) which
         1999 berdasarkan Keputusan Direksi Bank                     was established on 1 August 1999 based on Board
         Mandiri No. 004/KEP.DIR/1999 tanggal 26 April               of Directors’s resolution No. 004/KEP.DIR/1999
         1999 tentang Peraturan Dana Pensiun dari Dana               dated 26 April 1999 regarding Pension Plan of
         Pensiun Bank Mandiri. Peraturan Dana Pensiun                Bank Mandiri’s pension fund. Regulation
         dari Dana Pensiun Bank Mandiri telah mendapat               established by Bank Mandiri pension fund were
         pengesahan dari Menteri Keuangan Republik                   approved by the Minister of Finance of the
         Indonesia berdasarkan Surat Keputusan Menteri               Republic of Indonesia through its Decision Letter
         Keuangan       Republik     Indonesia      No.              No. KEP/300/KM.017/1999 dated 14 July 1999 and
         KEP/300/KM.017/1999 tanggal 14 Juli 1999 dan                was published in the Additional of the State
         diumumkan di dalam Tambahan Lembaran Berita                 Gazette of the Republic of Indonesia No. 62 dated
         Negara Republik Indonesia No. 62 tanggal                    3 August 1999.
         3 Agustus 1999.

         Peraturan Dana Pensiun dari Dana Pensiun Bank               The regulations for Pension Funds from Bank
         Mandiri telah disesuaikan terakhir berdasarkan              Mandiri Pension Funds have been last adjusted
         Keputusan Direksi PT Bank Mandiri (Persero)                 based on the Decree of the Board of Directors of
         Tbk. No. KEP.DIR/4/2022 tanggal 9 Februari                  PT    Bank    Mandiri    (Persero)      Tbk.   No.
         2022. Penyesuaian dilakukan dalam rangka                    KEP.DIR/4/2022 dated 9 February 2022. The
         penyelenggaraan Pembayaran Manfaat Pensiun                  adjustment was made in the framework of
         secara Berkala oleh Dana Pensiun Bank Mandiri               implementing Periodic Pension Benefit Payments
         dan telah mendapatkan pengesahan dari                       by the Bank Mandiri Pension Fund and has
         Otoritas Jasa Keuangan berdasarkan Keputusan                received approval from the Financial Services
         Dewan Komisioner Otoritas Jasa Keuangan                     Authority based on the Decree of the Board of
         No. KEP-246/NB.11/2022 tanggal 25 April 2022                Commissioners of the Financial Services Authority
         dan diumumkan di dalam Tambahan Lembaran                    No. KEP-246/NB.11/2022 dated 25 April 2022 and
         Berita Negara Republik Indonesia No. 45 tanggal             announced in the Additional of the State Gazette of
         7Juni 2022.                                                 the Republic of Indonesia No. 45 dated 7 June
                                                                     2022.




                                                              324                                     ANNUAL REPORT 2023    1391
Page 885
            MAIN                       MANAGEMENT                       COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                      51. PENSION PLAN AND SEVERANCE PAY (continued)

                a.   Dana Pensiun Bank Mandiri (Program Pensiun              a.   Bank Mandiri Pension Fund (Defined Contribution
                     Iuran Pasti) (lanjutan)                                      Pension Program) (continued)

                     Iuran pensiun yang dibukukan atas nama                       The pension contribution is recorded for each
                     masing-masing Peserta ditanggung bersama                     members, which jointly borne by the employer and
                     oleh Pemberi Kerja dan Peserta:                              the members:
                     1. Peserta wajib membayar iuran sebesar 5%                   1. The member is obliged to contribute 5% (five
                          (lima persen) dari Penghasilan Dasar                        percent) of basic pension income.
                          Pensiun.
                     2. Pemberi Kerja wajib membayar iuran                        2.   The employer is obliged to contribute 10%
                          sebesar 10% (sepuluh persen) dari                            (ten percent) of basic pension income.
                          Penghasilan Dasar Pensiun.

                     Dana Pensiun Bank Mandiri menginvestasikan                   The Bank Mandiri’s pension funds invest their
                     beberapa sumber keuangannya antara lain pada                 financial resources including deposits on call at
                     deposito on call Bank Mandiri. Saldo deposito on             Bank Mandiri. Balance on deposit on call as of
                     call tersebut pada tanggal 31 Desember 2023                  31 December 2023 and 2022 amounted to
                     dan 2022 masing-masing sebesar Rp13.050 dan                  Rp13,050 and Rp9,200, respectively. The interest
                     Rp9.200. Tingkat suku bunga atas deposito                    rate of the deposits are the same with interest rate
                     tersebut adalah sama dengan suku bunga atas                  for third party time deposits.
                     deposito berjangka pihak ketiga.

                     Untuk tahun yang berakhir pada tanggal                       For the year ended 31 December 2023 and 2022,
                     31 Desember 2023 dan 2022, Bank telah                        Bank has paid pension contribution of Rp570,809
                     membayar iuran pensiun masing-masing sebesar                 and Rp538,691, respectively.
                     Rp570.809 dan Rp538.691.

                b.   Dana Pensiun Bank Mandiri (Program Pensiun              b.   Bank Mandiri Pension Fund (Defined Benefit
                     Manfaat Pasti)                                               Pension Program)

                     Bank Mandiri memiliki 4 (empat) Dana Pensiun                 Four employer’s pension funds provide defined
                     yang menyelenggarakan Program Pensiun                        benefits program (DPPK-PPMP), which from the
                     Manfaat Pasti (DPPK - PPMP) sebagai berikut:                 merger of 4 (four) legacy banks, namely:
                     1. Dana Pensiun Bank Mandiri Satu (Bank                      1. Dana Pensiun Bank Mandiri Satu (Bank Bumi
                         Bumi Daya),                                                  Daya),
                     2. Dana Pensiun Bank Mandiri Dua (Bank                       2. Dana Pensiun Bank Mandiri Dua (Bank
                         Dagang Negara),                                              Dagang Negara),
                     3. Dana Pensiun Bank Mandiri Tiga (Bank                      3. Dana Pensiun Bank Mandiri Tiga (Bank Exim)
                         Exim) dan                                                    and
                     4. Dana Pensiun Bank Mandiri Empat (Bank                     4. Dana Pensiun Bank Mandiri Empat (Bank
                         Pembangunan Indonesia).                                      Pembangunan Indonesia),

                     Peserta program pensiun manfaat pasti adalah                 The members of the pension funds are employees
                     mereka yang berasal dari Bank Peserta                        from Participating Bank with working period of
                     Penggabungan dengan masa kerja tiga tahun                    three years or more at the merger date which were
                     atau lebih pada saat penggabungan yang terdiri               active employees, ex employees (resigned but did
                     dari pegawai aktif bank, mantan karyawan                     not transfer his/her right to other pension fund) and
                     (karyawan yang berhenti bekerja dan tidak                    retired members.
                     mengalihkan haknya ke dana pensiun lain) dan
                     pensiunan.




1392 PT Bank Mandiri (Persero) Tbk                                         325
Page 886
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                     51. PENSION PLAN AND SEVERANCE PAY (continued)

    Dana pensiun (lanjutan)                                     Pension plan (continued)

    b.   Dana Pensiun Bank Mandiri (Program Pensiun             b.   Bank Mandiri Pension Fund (Defined Benefit
         Manfaat Pasti) (lanjutan)                                   Pension Program) (continued)

         Peraturan Dana Pensiun dari Dana Pensiun Bank               The regulations for Pension Funds from Dana
         Mandiri Satu (DPBM Satu), Dana Pensiun Bank                 Pensiun Bank Mandiri Satu (DPBM Satu), Dana
         Mandiri Dua (DPBM Dua), Dana Pensiun Bank                   Pensiun Bank Mandiri Dua (DPBM Dua), Dana
         Mandiri Tiga (DPBM Tiga) dan Dana Pensiun                   Pensiun Bank Mandiri Tiga (DPBM Tiga) and Dana
         Bank Mandiri Empat (DPBM Empat) telah                       Pensiun Bank Mandiri Empat (DPBM Empat) have
         mengalami beberapa kali perubahan, hal tersebut             been changed several times, in order to comply
         dilakukan dalam rangka menyesuaikan dengan                  with the applicable laws and regulations, as
         peraturan perundang-undangan yang berlaku                   follows:
         yaitu:

         1.   Dana Pensiun        Bank    Mandiri    Satu            1.   Dana  Pensiun       Bank      Mandiri     Satu
              (“DPBMS")                                                   (“DPBMS")

              Dalam rangka penggabungan PT Bank                           For the purpose of the merger of PT Bank
              Bumi Daya (Persero) ke dalam PT Bank                        Bumi Daya (Persero) into PT Bank Mandiri
              Mandiri   (Persero),    telah   ditetapkan                  (Persero), a Decree of the Board of Directors
              Keputusan Direksi PT Bank Mandiri                           of PT Bank Mandiri (Persero) No.
              (Persero)   Nomor     021A/KEP.DIR/1999                     021A/KEP.DIR/1999 dated 31 July 1999 was
              tanggal 31 Juli 1999 yang telah mendapat                    stipulated, which was approved by the
              pengesahan Menteri berdasarkan Keputusan                    Minister based on Decree No. KEP-
              Nomor     KEP-394/KM.17/1999        tanggal                 394/KM.17/1999 dated 15 November 1999,
              15 November 1999, dengan nama Dana                          under the name Dana Pensiun Bank Mandiri
              Pensiun Bank Mandiri Satu.                                  Satu.

              Peraturan Dana Pensiun dari Dana Pensiun                    The Pension Fund Regulations of the Dana
              Bank Mandiri Satu telah disesuaikan terakhir                Pensiun Bank Mandiri Satu have been
              berdasarkan Keputusan Direksi PT Bank                       adjusted recently by Decree of the Board of
              Mandiri     (Persero)      Tbk.      Nomor                  Directors of PT Bank Mandiri (Persero) Tbk.
              KEP.DPB1/001/2023 tanggal 15 Maret 2023.                    Number KEP.DPB1/001/2023 dated 15 March
              Penyesuaian dilakukan dalam rangka                          2023. The amendment was made in order to
              pemberian Manfaat Lain dalam Bentuk                         provide Other Benefits in the form of
              Manfaat Tambahan Tahun 2023 kepada                          Additional Benefits year 2023 to Dana
              Dana Pensiun Bank Mandiri Satu, Dana                        Pensiun Bank Mandiri Satu, Dana Pensiun
              Pensiun Bank Mandiri Dua, Dana Pensiun                      Bank Mandiri Dua, Dana Pensiun Bank
              Bank Mandiri Tiga dan Dana Pensiun Bank                     Mandiri Tiga and Dana Pensiun Bank Mandiri
              Mandiri Empat.                                              Empat.

              Perubahan Peraturan Dana Pensiun dari                       The amendment to the Pension Fund
              Dana Pensiun Bank Mandiri Satu ini, telah                   Regulation of Dana Pensiun Bank Mandiri
              mendapat pengesahan dari Otoritas Jasa                      Satu has been authorized by the Financial
              Keuangan berdasarkan Keputusan Dewan                        Services Authority based on the Decision of
              Komisioner Otoritas Jasa Keuangan Nomor                     the Board of Commissioners of the Financial
              KEP-23/D.05/2023 tanggal 5 April 2023                       Services Authority Number KEP-23/D.05/2023
              Tentang Pengesahan Atas Peraturan Dana                      dated 5 April 2023 regarding the Ratification
              Pensiun dari Dana Pensiun Bank Mandiri                      of the Pension Fund Regulation of Dana
              Satu dan diumumkan di dalam Tambahan                        Pensiun Bank Mandiri Satu and has been
              Lembaran Berita Negara Republik Indonesia                   announced in the Additional to the State
              No. 36 tanggal 5 Mei 2023.                                  Gazette of the Republic of Indonesia No.36
                                                                          dated 5 May 2023.




                                                              326                                     ANNUAL REPORT 2023   1393
Page 887
            MAIN                       MANAGEMENT                        COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                       ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                       51. PENSION PLAN AND SEVERANCE PAY (continued)
                Dana pensiun (lanjutan)                                       Pension plan (continued)
                b.   Dana Pensiun Bank Mandiri (Program Pensiun               b.   Bank Mandiri Pension Fund (Defined Benefit
                     Manfaat Pasti) (lanjutan)                                     Pension Program) (continued)

                     2.   Dana Pensiun        Bank     Mandiri    Dua              2.   Dana  Pensiun       Bank     Mandiri     Dua
                          (“DPBMD")                                                     (“DPBMD")
                          Dalam rangka penggabungan PT Bank                             For the purpose of the merger of PT Bank
                          Dagang Negara (Persero) ke dalam PT Bank                      Dagang Negara (Persero) into PT Bank
                          Mandiri    (Persero),   telah    ditetapkan                   Mandiri (Persero), a Decree of the Board of
                          Keputusan Direksi PT Bank Mandiri                             Directors of PT Bank Mandiri (Persero)
                          (Persero)    Nomor     021B/KEP.DIR/1999                      No. 021B/KEP.DIR/1999 dated 31 July 1999
                          tanggal 31 Juli 1999, yang telah mendapat                     was stipulated, which was approved by the
                          pengesahan Menteri berdasarkan Keputusan                      Minister based on Decree No. KEP-
                          Nomor:     KEP-395/KM.17/1999       tanggal                   395/KM.17/1999 dated 15 November 1999,
                          15 November 1999, dengan nama Dana                            under the name Dana Pensiun Bank Mandiri
                          Pensiun Bank Mandiri Dua.                                     Dua.
                          Peraturan Dana Pensiun dari Dana Pensiun                      The Pension Fund Regulations of Dana
                          Bank Mandiri Dua telah disesuaikan terakhir                   Pensiun Bank Mandiri Dua have been
                          berdasarkan Keputusan Direksi PT Bank                         adjusted recently by Decree of the Board of
                          Mandiri     (Persero)     Tbk.      Nomor                     Directors of PT Bank Mandiri (Persero) Tbk.
                          KEP.DPB2/001/2023 tanggal 15 Maret 2023.                      Number KEP.DPB2/001/2023 dated 15 March
                          Penyesuaian dilakukan dalam rangka                            2023. The amendment was made in order to
                          pemberian Manfaat Lain dalam Bentuk                           provide Other Benefits in the form of
                          Manfaat Tambahan Tahun 2023 kepada                            Additional Benefits year 2023 to Dana
                          Dana Pensiun Bank Mandiri Satu, Dana                          Pensiun Bank Mandiri Satu, Dana Pensiun
                          Pensiun Bank Mandiri Dua, Dana Pensiun                        Bank Mandiri Dua, Dana Pensiun Bank
                          Bank Mandiri Tiga dan Dana Pensiun Bank                       Mandiri Tiga and Dana Pensiun Bank Mandiri
                          Mandiri Empat.                                                Empat.
                          Perubahan Peraturan Dana Pensiun dari                         This amendment to the Pension Fund
                          Dana Pensiun Bank Mandiri Dua ini, telah                      Regulations of Dana Pensiun Bank Mandiri
                          mendapat pengesahan dari Otoritas Jasa                        Dua has been authorized by the Financial
                          Keuangan berdasarkan Keputusan Dewan                          Services Authority (OJK) based on the Decree
                          Komisioner Otoritas Jasa Keuangan Nomor                       of the Board of Commissioners of the
                          KEP-24/D.05/2023 tanggal 5 April 2023                         Financial Services Authority Number KEP-
                          Tentang Pengesahan Atas Peraturan Dana                        24/D.05/2023 dated 5 April 2023 regarding the
                          Pensiun dari Dana Pensiun Bank Mandiri                        Ratification of Pension Fund Regulations of
                          Dua dan diumumkan di dalam Tambahan                           Dana Pensiun Bank Mandiri Dua and has
                          Lembaran Berita Negara Republik Indonesia                     been announced in the Additional to the State
                          No. 36 tanggal 5 Mei 2023.                                    Gazette of the Republic of Indonesia No.36
                                                                                        dated 5 May 2023.
                     3.   Dana Pensiun        Bank    Mandiri    Tiga              3.   Dana  Pensiun       Bank     Mandiri     Tiga
                          (“DPBMT")                                                     (“DPBMT")
                          Dalam rangka penggabungan PT Bank                             For the purpose of the merger of PT Bank
                          Ekspor Impor Indonesia (Persero) ke dalam                     Ekspor Impor Indonesia (Persero) into
                          PT Bank Mandiri (Persero), telah ditetapkan                   PT Bank Mandiri (Persero), a Decree of the
                          Keputusan Direksi PT Bank Mandiri                             Board of Directors of PT Bank Mandiri
                          (Persero)   Nomor      021C/KEP.DIR/1999                      (Persero) No. 021C/KEP.DIR/1999 dated 31
                          tanggal 31 Juli 1999, yang telah mendapat                     July 1999 was stipulated, which was approved
                          pengesahan Menteri berdasarkan Keputusan                      by the Minister based on the Decree No. KEP-
                          Nomor     KEP-396/KM.17/1999         tanggal                  396/KM.17/1999 dated 15 November 1999,
                          15 November 1999, dengan nama Dana                            under the name Dana Pensiun Bank Mandiri
                          Pensiun Bank Mandiri Tiga.                                    Tiga.
                          Peraturan Dana Pensiun dari Dana Pensiun                      The Pension Fund Regulations of Dana
                          Bank Mandiri Tiga telah disesuaikan terakhir                  Pensiun Bank Mandiri Tiga have been
                          berdasarkan Keputusan Direksi PT Bank                         adjusted recently by Decree of the Board of
                          Mandiri     (Persero)      Tbk.      Nomor                    Directors of PT Bank Mandiri (Persero) Tbk.
                          KEP.DPB3/001/2023 tanggal 15 Maret 2023.                      Number KEP.DPB3/001/2023 dated 15 March
                          Penyesuaian dilakukan dalam rangka                            2023. The amendment was made in order to
                          pemberian Manfaat Lain dalam Bentuk                           provide Other Benefits in the form of
                          Manfaat Tambahan Tahun 2023 kepada                            Additional Benefits year 2023 to Dana
                          Dana Pensiun Bank Mandiri Satu, Dana                          Pensiun Bank Mandiri Satu, Dana Pensiun
                          Pensiun Bank Mandiri Dua, Dana Pensiun                        Bank Mandiri Dua, Dana Pensiun Bank
                          Bank Mandiri Tiga dan Dana Pensiun Bank                       Mandiri Tiga and Dana Pensiun Bank Mandiri
                          Mandiri Empat.                                                Empat.



1394 PT Bank Mandiri (Persero) Tbk                                          327
Page 888
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                      Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                         KEUANGAN   2023
                                                                                                      Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                     51. PENSION PLAN AND SEVERANCE PAY (continued)
    Dana pensiun (lanjutan)                                     Pension plan (continued)
    b.   Dana Pensiun Bank Mandiri (Program Pensiun             b.   Bank Mandiri Pension Fund (Defined Benefit
         Manfaat Pasti) (lanjutan)                                   Pension Program) (continued)
         3.   Dana Pensiun Bank           Mandiri    Tiga            3.   Dana  Pensiun      Bank      Mandiri     Tiga
              (“DPBMT") (lanjutan)                                        (“DPBMT") (continued)
              Perubahan Peraturan Dana Pensiun dari                       The amendment to the Pension Fund
              Dana Pensiun Bank Mandiri Tiga ini, telah                   Regulation of Dana Pensiun Bank Mandiri
              mendapat pengesahan dari Otoritas Jasa                      Tiga has been authorized by the Financial
              Keuangan berdasarkan Keputusan Dewan                        Services Authority based on the Decision of
              Komisioner Otoritas Jasa Keuangan Nomor                     the Board of Commissioners of the Financial
              KEP-25/D.05/2023 tanggal 5 April 2023                       Services Authority Number KEP-25/D.05/2023
              Tentang Pengesahan Atas Peraturan Dana                      dated 5 April 2023 regarding the Ratification
              Pensiun dari Dana Pensiun Bank Mandiri                      of the Pension Fund Regulation of Dana
              Tiga dan diumumkan di dalam Tambahan                        Pensiun Bank Mandiri Tiga and has been
              Lembaran Berita Negara Republik Indonesia                   announced in the Additional to the State
              No. 36 tanggal 5 Mei 2023.                                  Gazette of the Republic of Indonesia No.36
                                                                          dated 5 May 2023.
         4.   Dana Pensiun      Bank    Mandiri     Empat            4.   Dana Pensiun       Bank    Mandiri     Empat
              (“DPBME")                                                   (“DPBME")
              Dalam rangka penggabungan PT Bank                           For the purpose of the merger of PT Bank
              Pembangunan Indonesia (Persero) ke dalam                    Pembangunan Indonesia (Persero) into PT
              PT Bank Mandiri (Persero), telah ditetapkan                 Bank Mandiri (Persero), a Decree of the Board
              Keputusan Direksi PT Bank Mandiri                           of Directors of PT Bank Mandiri (Persero)
              (Persero) No. 021D/KEP.DIR/1999 tanggal                     No. 021D/KEP.DIR/1999 dated 31 July 1999
              31 Juli 1999, yang telah mendapat                           was stipulated, which was approved by the
              pengesahan Menteri berdasarkan Keputusan                    Minister based on Decree No. KEP-
              Nomor     KEP-397/KM.17/1999         tanggal                397/KM.17/1999 dated 15 November 1999,
              15 November 1999, dengan nama Dana                          under the name Dana Pensiun Bank Mandiri
              Pensiun Bank Mandiri Empat.                                 Empat.
              Peraturan Dana Pensiun dari Dana Pensiun                    The Pension Fund Regulations of Dana
              Bank Mandiri Empat telah disesuaikan                        Pensiun Bank Mandiri Empat have been
              terakhir berdasarkan Keputusan Direksi                      adjusted recently by Decree of the Board of
              PT     Bank    Mandiri   (Persero)  Tbk.                    Directors of PT Bank Mandiri (Persero) Tbk.
              No. KEP.DPB4/001/2023 tanggal 15 Maret                      Number KEP.DPB4/001/2023 dated 15 March
              2023. Penyesuaian dilakukan dalam rangka                    2023. The amendment was made in order to
              pemberian Manfaat Lain dalam Bentuk                         provide Other Benefits in the form of
              Manfaat Tambahan Tahun 2023 kepada                          Additional Benefits year 2023 to Dana
              Dana Pensiun Bank Mandiri Satu, Dana                        Pensiun Bank Mandiri Satu, Dana Pensiun
              Pensiun Bank Mandiri Dua, Dana Pensiun                      Bank Mandiri Dua, Dana Pensiun Bank
              Bank Mandiri Tiga dan Dana Pensiun Bank                     Mandiri Tiga and Dana Pensiun Bank Mandiri
              Mandiri Empat.                                              Empat.
              Perubahan Peraturan Dana Pensiun dari                       The amendment to the Pension Fund
              Dana Pensiun Bank Mandiri Empat ini, telah                  Regulations of Dana Pensiun Bank Mandiri
              mendapat pengesahan dari Otoritas Jasa                      Empat has been authorized by the Financial
              Keuangan berdasarkan Keputusan Dewan                        Services Authority based on the Decision of
              Komisioner    Otoritas   Jasa  Keuangan                     the Board of Commissioners of the Financial
              No. KEP-26/D.05/2023 tanggal 5 April 2023                   Services Authority Number KEP-26/D.05/2023
              Tentang Pengesahan Atas Peraturan Dana                      dated 5 April 2023 regarding the Ratification
              Pensiun dari Dana Pensiun Bank Mandiri                      of the Pension Fund Regulations of Dana
              Empat dan diumumkan di dalam Tambahan                       Pensiun Bank Mandiri Empat and has been
              Lembaran Berita Negara Republik Indonesia                   announced in the Additional to the State
              No. 36 tanggal 5 Mei 2023.                                  Gazette of the Republic of Indonesia No.36
                                                                          dated 5 May 2023.
         Perhitungan aktuaria atas liabilitas manfaat                The actuarial calculation on pension benefits
         pensiun untuk Bank saja pada tanggal                        liability for Bank only as of 31 December 2023 and
         31 Desember 2023 dan 2022 didasarkan atas                   31 December 2022 were based on estimated
         estimasi perhitungan aktuaria untuk tahun yang              actuarial calculation for the year ended
         berakhir pada tanggal 31 Desember 2023 dan                  31 December 2023 and 2022 as stated in report of
         2022 yang tercantum pada laporan dari Kantor                Enny Diah Awal Actuary Consultant Firm dated
         Konsultan Aktuaria Enny Diah Awal tanggal                   4 January 2024 and 3 January 2023 with method
         4 Januari 2024 dan 3 Januari 2023 dengan                    of “Projected Unit Credit”.
         metode Projected Unit Credit.




                                                              328                                    ANNUAL REPORT 2023    1395
Page 889
            MAIN                                   MANAGEMENT                                          COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                             PROFILE                                             ANALYSIS


                                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                          (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                                                        51. PENSION PLAN AND SEVERANCE PAY (continued)
                Dana pensiun (lanjutan)                                                                            Pension plan (continued)
                Asumsi-asumsi yang digunakan untuk tahun yang                                                      The assumptions used for the year ended 31 December
                berakhir tanggal 31 Desember 2023 dan 2022 adalah                                                  2023 and 2022 are as follows:
                sebagai berikut:
                                                      DPBMS                            DPBMD                                  DPBMT                          DPBME

                                             6,70% (2022: 7,30% per             6,70% (2022: 7,30% per          6,70% (2022: 7,30% per               6,70% (2022: 7,30% per
                Tingkat diskonto            tahun/ 7.30% per annum)            tahun/ 7.30% per annum)         tahun/ 7.30% per annum)              tahun/ 7.30% per annum)                Discount rate
                Tingkat pengembalian                                                                                                                                                     Expected rate of
                   aset dana pensiun           8% (2022: 9,5% per                8% (2022: 9,5% per                     8% (2022: 9,5% per             8% (2022: 9,5% per            return on pension
                   yang diharapkan              tahun/per annum)                  tahun/per annum)                       tahun/per annum)               tahun/per annum)                   plan assets
                Masa kerja yang                  Per 31 Juli 1999/                 Per 31 Juli 1999/                      Per 31 Juli 1999/              Per 31 Juli 1999/               Working period
                  digunakan                     As of 31 July 1999                As of 31 July 1999                     As of 31 July 1999             As of 31 July 1999                      used
                                                                                                                (Gaji Pokok + Tunjangan
                                                                                                                 Keluarga) x Tunjangan
                                                                                                                kemahalan cabang yang
                                                                                                                  terdaftar pada tanggal
                                                                                Gaji Pokok + Tunjangan           31 Juli 1999 yang telah
                                             Gaji Pokok x Indeks yang         lainnya yang terdaftar pada              disesuaikan
                                               terdaftar pada tanggal          tanggal 31 Juli 1999 yang               pada tanggal                 Gaji Dasar yang terdaftar
                                              31 Juli 1999 yang telah               telah disesuaikan              31 Desember 2002/               pada tanggal 31 Juli 1999
                                             disesuaikan pada tanggal                  pada tanggal              (Basic Salary + Family              yang telah disesuaikan
                                                31 Desember 2002/                 31 Desember 2002/              Allowance) x Expensive                   pada tanggal
                                                Basic Salary x Index              Basic Salary + Other           allowance for branches               31 Desember 2002/
                Penghasilan Dasar           registered on 31 July 1999,         Benefits registered on 31      registered on 31 July 1999,         Basic Salary registered on              Pensionable
                  Pensiun (PhDP)                which adjusted on 31         July 1999, which adjusted on          which adjusted on 31           31 July 1999, which adjusted                salary
                  yang digunakan                  December 2002                    31 December 2002                  December 2002                   on 31 December 2002                 (PhDP) used
                Tingkat kenaikan                                                                                                                                                       Expected rates of
                   PhDP                               Nihil/Nil                         Nihil/Nil                             Nihil/Nil                      Nihil/Nil                 PhDP increase
                Tabel tingkat
                  kematian                      80% UN 2010 Male                  80% UN 2010 Male                      80% UN 2010 Male               80% UN 2010 Male               Mortality rate table
                                              Usia 23 - 29 = 10,00%             Usia 23 - 29 = 10,00%            Usia 23 - 29 = 10,00%               Usia 23 - 29 = 10,00%
                                             Usia 30 - UPN = 3,50%           Usia 30 - UPN = 3,50% turun        Usia 30 - UPN = 3,50%             Usia 30 - UPN = 3,50% turun
                                             turun linear s.d. 0,00%/              linear s.d. 0,00%/           turun linear s.d. 0,00%/                linear s.d. 0,00%/
                                              Age 23 - 29 = 10.00%              Age 23 - 29 = 10.00%             Age 23 - 29 = 10.00%                Age 23 - 29 = 10.00%
                                           Age 30 - Normal Retirement        Age 30 - Normal Retirement       Age 30 - Normal Retirement          Age 30 - Normal Retirement
                Tingkat pengunduran         Age = 3.50% decreasing             Age = 3.50% decreasing          Age = 3.50% decreasing               Age = 3.50% decreasing
                   diri                        linearly up to 0.00%              linearly up to 0.00%             linearly up to 0.00%                linearly up to 0.00%                 Turnover rate
                                           10,00% dari tingkat mortalita/    10,00% dari tingkat mortalita/   10,00% dari tingkat mortalita/      10,00% dari tingkat mortalita/
                Tingkat kecacatan            10.00% of mortality rate          10.00% of mortality rate         10.00% of mortality rate            10.00% of mortality rate               Disability rate

                Metode aktuaria                Projected Unit Credit             Projected Unit Credit              Projected Unit Credit             Projected Unit Credit             Actuarial method
                                           48 tahun sampai dengan 56
                                                tahun disesuaikan
                                               berdasarkan strata/                 56 tahun untuk                   56 tahun untuk                       56 tahun untuk
                Usia pensiun normal          48 years old to 56 years               semua strata/                    semua strata/                        semua strata/            Normal retirement age
                   (“UPN”)                  depending on the Grades           56 years old for all Grades      56 years old for all Grades          56 years old for all Grades                (“UPN”)
                Tingkat                                                                                                                                                                 Expected rate of
                   kenaikan manfaat                                                                                                                                                    pension benefit
                   pensiun                           Nihil/Nil                          Nihil/Nil                             Nihil/Nil             2,00% per tahun/per year                 increase

                                               Tarif pajak progresif             Tarif pajak progresif            Tarif pajak progresif                Tarif pajak progresif
                                             berdasarkan UU RI No.7            berdasarkan UU RI No.7           berdasarkan UU RI No.7               berdasarkan UU RI No.7
                                           tahun 2021/ Progressive tax       tahun 2021/ Progressive tax      tahun 2021/ Progressive tax          tahun 2021/ Progressive tax
                                            rate based on UU RI No.7          rate based on UU RI No.7         rate based on UU RI No.7             rate based on UU RI No.7
                                                    (2022: 3,00%                      (2022: 3,00%                     (2022: 3,00%                         (2022: 3,00%
                Tarif pajak rata-rata         dari imbalan/of benefit)          dari imbalan/of benefit)         dari imbalan/of benefit)             dari imbalan/of benefit)         Average tax rates


                Estimasi nilai kini liabilitas manfaat pensiun dan nilai                                           The present value of the pension benefit obligations and
                wajar aset bersih pada tanggal 31 Desember 2023                                                    net fair value of plan assets as of 31 December 2023 are
                adalah sebagai berikut:                                                                            as follows:
                                                                                                               2023

                                                                            DPBMS                   DPBMD                    DPBMT                DPBME


                Nilai kini liabilitas                                                                                                                                    Present value of the pension
                   manfaat pensiun                                          (1.252.727)             (1.383.448)                 (570.853)             (439.812)                   benefit obligation
                Nilai wajar aset program                                      1.295.271               1.404.869                   583.862              586.699               Fair value of plan assets

                Funded status                                                   42.544                   21.421                     13.009             146.887                          Funded Status
                Batas aset (asset ceiling)*)                                  (42.544)                 (21.421)                   (13.009)            (146.887)                          Asset ceiling*)
                Aset program manfaat                                                                                                                                          Pension plan program
                  pensiun yang diakui                                                                                                                                       assets recognised in
                  di laporan posisi                                                     -                      -                          -                    -          consolidated statement
                  keuangan konsolidasian**)                                                                                                                                of financial position **)

                *)    Tidak terdapat akumulasi kerugian aktuarial bersih dan biaya jasa lalu yang                  *)     There are no unrealised accumulated actuarial loss-net nor unrealised past
                      belum diakui serta tidak terdapat nilai kini dari manfaat ekonomis yang                             service cost and there are no present value of available future refunds or
                      tersedia dalam bentuk pengembalian dana dari program atau pengurangan                               reductions of future contributions.
                      iuran masa depan.
                **)   Tidak ada aset yang diakui di laporan posisi keuangan konsolidasian karena                   **)    There are no plan assets recognised in the consolidated statement of financial
                      ketentuan yang disyaratkan dalam PSAK 24 mengenai “Imbalan Kerja” tidak                             position because the requirements under SFAS No. 24 regarding “Employee
                      terpenuhi.                                                                                          Benefits” are not fulfilled.



1396 PT Bank Mandiri (Persero) Tbk                                                                            329
Page 890
         CORPORATE                           ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                                      LAPORAN
                                                                                                                                                             Financial
         GOVERNANCE                          & PRACTICES                                     RESPONSIBILITY                                                KEUANGAN   2023
                                                                                                                                                             Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                       (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                                                    51. PENSION PLAN AND SEVERANCE PAY (continued)

    Dana pensiun (lanjutan)                                                                         Pension plan (continued)

    Estimasi nilai kini liabilitas manfaat pensiun dan nilai                                        The present value of the pension benefit obligations and
    wajar aset bersih pada tanggal 31 Desember 2022                                                 net fair value of plan assets as of 31 December 2022 are
    adalah sebagai berikut:                                                                         as follows:

                                                                                                2022

                                                              DPBMS               DPBMD                      DPBMT                DPBME


    Nilai kini liabilitas                                                                                                                               Present value of the pension
       manfaat pensiun                                       (1.321.307)           (1.453.642)                  (600.389)             (466.605)                  benefit obligation
    Nilai wajar aset program                                   1.420.106             1.465.542                    626.880              608.820              Fair value of plan assets

    Funded status                                                  98.799                  11.900                  26.491              142.215                          Funded Status
    Batas aset (asset ceiling)*)                                 (98.799)                (11.900)                (26.491)             (142.215)                          Asset ceiling*)

    Aset program manfaat                                                                                                                                     Pension plan program
      pensiun yang diakui                                                                                                                                  assets recognised in
      di laporan posisi                                                                                                                                  consolidated statement
      keuangan konsolidasian**)                                           -                     -                         -                    -          of financial position **)


    *)     Tidak terdapat akumulasi kerugian aktuarial bersih dan biaya jasa lalu yang              *)    There are no unrealised accumulated actuarial loss-net nor unrealised past
           belum diakui serta tidak terdapat nilai kini dari manfaat ekonomis yang                        service cost and there are no present value of available future refunds or
           tersedia dalam bentuk pengembalian dana dari program atau pengurangan                          reductions of future contributions.
           iuran masa depan.
    **)    Tidak ada aset yang diakui di laporan posisi keuangan konsolidasian karena               **)   There are no plan assets recognised in the consolidated statement of financial
           ketentuan yang disyaratkan dalam PSAK 24 mengenai “Imbalan Kerja” tidak                        position because the requirements under SFAS No. 24 regarding “Employee
           terpenuhi.                                                                                     Benefits” are not fulfilled.


    Komposisi aset program dari masing-masing dana                                                  The composition of plan assets from Pension Fund for
    pensiun pada tanggal 31 Desember 2023 dan 2022                                                  the year ended 31 December 2023 and 2022 are as
    terdiri dari:                                                                                   follows:

                                                                                                2023

                                                              DPBMS               DPBMD                      DPBMT                DPBME

    Deposito                                                           5%                    5%                        1%                  16%                            Time deposit
    Obligasi                                                          34%                   39%                       11%                  17%                                   Bonds
    Penempatan langsung                                                8%                   23%                       35%                   3%                        Direct placement
    Tanah dan bangunan                                                28%                    4%                       31%                   0%                       Land and building
    Saham                                                              1%                    1%                        0%                   0%                                  Shares
    Surat Berharga Negara                                             24%                   28%                       22%                  63%                           Treasury bills
    Lain-lain                                                          0%                    0%                        0%                   1%                                   Others

    Total                                                           100%                   100%                     100%                  100%                                     Total


                                                                                                2022

                                                              DPBMS               DPBMD                      DPBMT                DPBME

    Deposito                                                           8%                    6%                        2%                  10%                            Time deposit
    Obligasi                                                          35%                   41%                       13%                  22%                                   Bonds
    Penempatan langsung                                                8%                   20%                       31%                   3%                        Direct placement
    Tanah dan bangunan                                                26%                    4%                       33%                   6%                       Land and building
    Saham                                                              2%                    2%                        0%                   0%                                  Shares
    Surat Berharga Negara                                             21%                   26%                       21%                  59%                           Treasury bills
    Lain-lain                                                          0%                    1%                        0%                   0%                                   Others

    Total                                                           100%                   100%                     100%                  100%                                     Total




                                                                                               330                                                           ANNUAL REPORT 2023            1397
Page 891
            MAIN                       MANAGEMENT                       COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                          ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                      51. PENSION PLAN AND SEVERANCE PAY (continued)

                Dana pensiun (lanjutan)                                          Pension plan (continued)

                Undang-undang di Bidang Ketenagakerjaan dan                      Labor Law and Bank Mandiri Collective Labor
                Perjanjian Kerja Bersama Bank Mandiri                            Agreement

                Bank Mandiri telah menerapkan kebijakan akuntansi                Bank Mandiri has implemented an accounting policy for
                imbalan kerja PSAK No. 24 dengan mengakui                        employment benefits SFAS No. 24 to recognise
                cadangan atas tunjangan masa kerja pegawai                       provision for employee service entitlements. Bank
                (employee service entitlements). Bank Mandiri                    Mandiri recognizes provisions for employee long
                mengakui cadangan atas tunjangan masa kerja                      service benefits based on the Employment Law and
                pegawai berdasarkan Undang-undang di Bidang                      and Bank Mandiri Collective Labor Agreements for the
                Ketenagakerjaan dan Perjanjian Kerja Bersama Bank                year ended 31 December 2023 and 2022 amounted to
                Mandiri untuk tahun yang berakhir pada tanggal 31                Rp3,469,705         and      Rp3,184,090      (including
                Desember 2023 dan 2022 masing-masing sejumlah                    compensation benefits of Rp8,240 for resigned
                Rp3.469.705 dan Rp3.184.090 (termasuk Rp8.240                    employees which have not yet been paid and excluded
                yang merupakan pesangon atas pegawai yang sudah                  from actuarial calculation), respectively, based on the
                berhenti tetapi belum dibayarkan dan telah                       estimated post employment benefit in the independent
                dikeluarkan dari perhitungan aktuarial) berdasarkan              actuarial reports (Note 34).
                perkiraan biaya uang penghargaan pegawai
                sebagaimana tercantum dalam laporan aktuaria
                independen (Catatan 34).

                Penyisihan atas tunjangan masa kerja pegawai pada                Provision for employee service entitlements as of
                tanggal 31 Desember 2023 dan 2022 dihitung                       31 December 2023 and 2022 are estimated using the
                berdasarkan perhitungan hak masa kerja pegawai                   employees service entitlements calculation for the year
                untuk tahun yang berakhir 31 Desember 2023 dan                   ended 31 December 2023 and 2022 as included in the
                2022 sebagaimana tercantum dalam laporan aktuaria                independent actuarial report of Enny Diah Awal Actuary
                independen Kantor Konsultan Aktuaria Enny Diah                   Consultant Firm dated 4 January 2024 and 3 January
                Awal tanggal 4 Januari 2024 dan 3 Januari 2023.                  2023, respectively. The assumptions used by the
                Asumsi-asumsi yang digunakan oleh aktuaria adalah                actuary are as follows:
                sebagai berikut:
                a. Tingkat diskonto: 6,80% (2022: 7,30%) per tahun.              a.   Discount rate: 6.80% (2022: 7.30%) per annum.
                b. Tingkat kenaikan gaji: 8,00%.                                 b.   Salary increase rate: 8.00%.
                c. Tabel tingkat kematian yang digunakan Tabel                   c.   Mortality rate table used is Indonesia Mortality
                    Mortalita Indonesia Tahun 2019.                                   2019.
                d. Tingkat pengunduran diri: Usia 23 - 29 = 10,00%               d.   Turnover rate: Age 23 - 29 = 10.00% Age 30 -
                    Usia 30 - UPN = 3,50% turun linear s.d. 0,00%.                    Normal Retirement Age = 3.50% decreasing
                                                                                      linearly up to 0.00%.
                e.   Metode aktuaria adalah projected unit credit                e.   Actuarial method is projected unit credit method.
                     method.
                f.   Usia pensiun normal berkisar antara 36 tahun                f.   Normal retirement age between 36 to 56 years
                     sampai    dengan    56   tahun    disesuaikan                    according to the grades.
                     berdasarkan strata.
                g.   Tingkat kecacatan 10,00% dari kemungkinan                   g.   Disability rate is 10.00% of death probability at
                     orang meninggal pada masing-masing usia.                         each age.

                Jumlah yang diakui pada laporan posisi keuangan                  The amounts recognised in the statement of financial
                ditentukan berdasarkan laporan aktuaria independen               position are determined based on independent
                sebagai berikut (Bank Mandiri saja):                             actuarial report as follows (Bank Mandiri only):

                                                                 2023                   2022

                Cadangan atas tunjangan masa kerja                                                      Provision for post employment
                   pegawai yang diakui di laporan                                                  benefits presented in statement of
                   posisi keuangan                                 2.066.274             1.879.403                  financial position




1398 PT Bank Mandiri (Persero) Tbk                                             331
Page 892
     CORPORATE                 ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                              Financial
     GOVERNANCE                & PRACTICES                        RESPONSIBILITY                            KEUANGAN   2023
                                                                                                              Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                         51. PENSION PLAN AND SEVERANCE PAY (continued)

    Dana pensiun (lanjutan)                                             Pension plan (continued)

    Undang-undang di Bidang Ketenagakerjaan dan                         Labor Law and Bank Mandiri Collective Labor
    Perjanjian Kerja Bersama Bank Mandiri (lanjutan)                    Agreement (continued)

    Mutasi nilai kini kewajiban pasti selama tahun berjalan             The movement in present value of obligation over the
    adalah sebagai berikut (Bank Mandiri saja):                         year is as follows (Bank Mandiri only):

                                                     2023                      2022


    Nilai kini kewajiban pada awal                                                           Beginning balance of present value
         tahun                                         1.879.403                1.920.311                      of obligation
    Biaya jasa kini                                      198.515                  200.823                  Current service cost
    Biaya pesangon                                         10.138                  33.660                  Severance payment
    Biaya bunga                                          133.304                  139.120                           Interest fee
    Biaya jasa lalu                                             -                   1.603                     Past service cost
    Pembayaran imbalan pasca-kerja                     (106.625)                (130.766)                           Benefit paid
    (Keuntungan)/kerugian aktuarial                      (48.461)               (285.348)                         Actuarial gain

    Nilai kini kewajiban pada akhir                                                                Ending balance of present
         tahun                                         2.066.274                1.879.403              value of obligation


    Jumlah yang diakui pada laporan laba rugi dan                       The amounts recognised in the statement of profit or
    penghasilan komprehensif lain berdasarkan laporan                   loss and other comprehensive income based on
    aktuaria independen adalah sebagai berikut (Bank                    independent actuarial report are as follows (Bank
    Mandiri saja):                                                      Mandiri only):

    Laba Rugi                                                                                                     Profit or loss
                                                     2023                      2022
    Biaya jasa kini                                        208.653                234.483                    Current service cost
    Biaya bunga                                            133.304                139.120                           Interest cost
    Biaya jasa lalu                                              -                  1.603                      Past service cost

    Biaya uang penghargaan pegawai                         341.957                375.206             Cost of pension benefits


    Penghasilan Komprehensif Lain                                                               Other Comprehensive Income

                                                     2023                      2022
    Asumsi keuangan                                                                                      Financial assumptions
       (perubahan asumsi)                                   91.329                 41.455          (change in assumptions)
    Penyesuaian pengalaman                                                                              Experience adjustment
       (demografi dan keuangan)                        (139.790)                 (326.803)     (demographics and finances)

    Keuntungan aktuarial yang diakui                                                                Actuarial gains recognized
       pada penghasilan                                                                            in other comprehensive
       komprehensif lain                                   (48.461)              (285.348)                         income




                                                                      332                                    ANNUAL REPORT 2023     1399
Page 893
            MAIN                              MANAGEMENT                                      COMPANY                                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                         PROFILE                                      ANALYSIS


                                                                PT BANK MANDIRI (PERSERO) Tbk.
                                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                                            51. PENSION PLAN AND SEVERANCE PAY (continued)

                Dana pensiun (lanjutan)                                                                Pension plan (continued)

                Undang-undang di Bidang Ketenagakerjaan dan                                            Labor Law and Bank Mandiri Collective Labor
                Perjanjian Kerja Bersama Bank Mandiri (lanjutan)                                       Agreement (continued)

                Rekonsiliasi cadangan atas tunjangan masa kerja                                        Reconciliations of provision for post employment benefits
                pegawai adalah sebagai berikut:                                                        are as follows:

                                                                                 2023                              2022


                Bank Mandiri                                                                                                                               Bank Mandiri
                Cadangan atas tunjangan masa kerja                                                                                      Beginning balance of provision for
                    pegawai awal tahun                                                1.879.403                      1.920.311             post employment benefits
                Biaya selama tahun berjalan                                             341.957                        375.206                  Expenses during the year
                Pembayaran manfaat                                                    (106.625)                      (130.766)                      Payments of benefits
                Keuntungan aktuarial yang diakui pada                                                                                      Recognition of actuarial gain in
                    penghasilan komprehensif lain                                      (48.461)                       (285.348)         other comprehensive income

                Cadangan atas tunjangan                                                                                                  Ending balance of provision for
                   masa kerja pegawai akhir tahun                                                                                         post employment benefits
                   (Bank Mandiri saja)                                                2.066.274                      1.879.403                  (Bank Mandiri only)

                Entitas Anak                                                                                                                                Subsidiaries
                Cadangan atas tunjangan masa                                                                                             Provision for post employment
                    kerja pegawai                                                     1.395.191                      1.296.447                              benefits

                Total cadangan atas tunjangan masa                                                                                       Total provision for post
                    kerja pegawai (Catatan 34)                                    3.461.465*)                       3.175.850*) employment benefits (Note 34)

                *)   Pada tanggal 31 Desember 2023 dan 2022, jumlah tersebut tidak termasuk            *)       As of 31 December 2023 and 2022, the amount does not include unpaid
                     pesangon atas pegawai yang telah berhenti tetapi belum dibayarkan                          severance for resigned employees which have not yet been paid amounted
                     sebesar Rp8.240 yang telah dikeluarkan dari perhitungan aktuarial.
                                                                                                                to Rp8,240, which was excluded from actuarial calculation.


                Nilai kini liabilitas yang didanai, nilai wajar aset                                   The present value of funded benefit obligations, fair
                program dan surplus pada program untuk lima tahun                                      value of plan assets and the surplus on the program for
                terakhir yaitu (Bank Mandiri saja):                                                    the last five years, which are (Bank Mandiri only):
                                                                                 31 Desember/December

                                                    2023               2022                   2021                   2020                2019

                Nilai kini kewajiban                                                                                                                         Present value of defined
                   imbalan pasti                    2.066.274           1.879.403             1.920.311               2.811.930          2.984.609           benefit obligations
                Nilai wajar aset program                    -                   -                     -                       -                  -           Fair value of plan assets

                Defisit program                     2.066.274           1.879.403             1.920.311               2.811.930          2.984.609                  Deficit in the plan

                Penyesuaian pengalaman                                                                                                                       Experience adjustments
                  pada liabilitas program             139.790             114.748               309.589                 228.319            330.750            on plan liabilities

                Penyesuaian pengalaman                                                                                                                       Experience adjustments
                  pada aset program                          -                    -                         -                  -                   -         on asset program


                Apresiasi Pensiun                                                                      Pension Appreciation

                Bank Mandiri memberikan program apresiasi pensiun                                      Bank Mandiri provides pension appreciation programs
                kepada pegawai yang memasuki usia pensiun normal                                       to employees who enter normal retirement age (age
                (56 tahun). Program ini berlaku bagi pegawai yang                                      56). This program is eligible for employees who have
                telah memasuki masa kerja 10 tahun. Nilai kini                                         entered their ten years of service period. The present
                kewajiban untuk cadangan atas program apresiasi                                        value for provision of pension appreciation program as
                pensiun per 31 Desember 2023 dan 2022                                                  of 31 December 2023 and 2022 based on an actuarial
                berdasarkan perhitungan aktuaria sebesar Rp83.508                                      calculation amounted to Rp83,508 and Rp67,151,
                dan Rp67.151 (Catatan 34).                                                             respectively (Note 34).




1400 PT Bank Mandiri (Persero) Tbk                                                                   333
Page 894
     CORPORATE                 ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                                Financial
     GOVERNANCE                & PRACTICES                        RESPONSIBILITY                              KEUANGAN   2023
                                                                                                                Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                         51. PENSION PLAN AND SEVERANCE PAY (continued)

    Apresiasi Pensiun (lanjutan)                                        Pension Appreciation (continued)

    Asumsi-asumsi yang digunakan untuk tahun yang                       The assumptions used for the year ending 31
    berakhir 31 Desember 2023 dan 2022 adalah sebagai                   December 2023 and 2022 are as follows:
    berikut:
    a. Tingkat diskonto: 6,90% (2022: 7,30%)                            a.   Discount rate: 6.90% (2022: 7.30%).
    b. Harga emas: Rp1.120.000 (2022: Rp1.012.000)                      b.   Gold price: Rp1,120,000 (2022: Rp1,012,000) (full
         (nilai penuh)                                                       amount).
    c. Tingkat kenaikan harga emas: 10,00% (2022:                       c.   Increment rate of gold price: 10.00% (2022:
         8,00%)                                                              8.00%).
    d. Tabel tingkat kematian yang digunakan Tabel                      d.   Mortality rate table used is Indonesia Mortality
         Mortalita Indonesia Tahun 2019                                      2019.
    e. Tingkat kecacatan 10% dari kemungkinan orang                     e.   Disability rate is 10% of death probability at each
         meninggal pada masing-masing usia                                   age.
    f. Tingkat pengunduran diri: Usia 23 - 29 = 10,00%                  f.   Turnover rate: Age 23 - 29 = 10.00% Age 30 -
         Usia 30 - UPN = 3,50% turun linear s.d. 0,00%.                      Normal Retirement Age = 3.50% decreasing
                                                                             linearly up to 0.00%.
    g.   Usia pensiun normal yaitu ketika pekerja                       g.   Normal retirement age is until age of 56 years.
         mencapai usia 56 tahun
    h.   Metode aktuaria adalah projected unit credit                   h.   Actuarial method used is projected unit credit
         method.                                                             method.

    Mutasi nilai kini kewajiban pasti selama tahun berjalan             The movement in present value of obligation over the
    adalah sebagai berikut (Bank Mandiri saja):                         year is as follows (Bank Mandiri only):

                                                     2023                      2022

    Nilai kini kewajiban pada awal                                                             Beginning balance of present value
         tahun                                             67.151                  62.781                       of obligation
    Biaya selama tahun berjalan                            14.471                  11.261               Expenses during the year
    Pembayaran manfaat                                     (5.545)                 (5.140)                            Benefit paid
    (Keuntungan)/kerugian aktuarial
         yang diakui pada penghasilan                                                         Actuarial (gain)/losses through other
         komprehensif lain                                    7.431                 (1.751)            comprehensive income

    Nilai kini kewajiban pada akhir                                                            Ending balance of present value
         tahun (Catatan 34)                                83.508                   67.151          of obligation (Note 34)


    Jumlah yang diakui pada laporan laba rugi dan                       The amounts recognised in the statement of profit or
    penghasilan komprehensif lain berdasarkan laporan                   loss and other comprehensive income based on
    aktuaria independen adalah sebagai berikut (Bank                    independent actuarial report are as follows (Bank
    Mandiri saja):                                                      Mandiri only):

    Laba Rugi                                                                                                      Profit or Loss

                                                     2023                      2022

    Biaya jasa kini                                           9.771                   6.745                   Current service cost
    Biaya bunga                                               4.700                   4.516                          Interest cost

    Biaya apresiasi pensiun                                14.471                   11.261         Cost of pension appreciation




                                                                      334                                      ANNUAL REPORT 2023     1401
Page 895
            MAIN                               MANAGEMENT                            COMPANY                                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                               PROFILE                                        ANALYSIS


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                                        51. PENSION PLAN AND SEVERANCE PAY (continued)

                Penghasilan Komprehensif Lain                                                  Other Comprehensive Income

                                                                             2023                           2022

                Asumsi keuangan                                                                                                               Financial assumptions
                   (perubahan asumsi)                                             9.620                              (866)              (change in assumptions)
                Penyesuaian pengalaman                                          (2.189)                              (885)                   Experience adjustment

                (Keuntungan)/kerugian                                                                                                           Actuarial (gains)/losses
                    aktuarial yang diakui                                                                                                       recognised in other
                    pada penghasilan                                                                                                                comprehensive
                    komprehensif lain                                               7.431                          (1.751)                                  Income


                Rekonsiliasi PVDBO (Bank Mandiri saja):                                        Reconciliation of PVDBO (Bank Mandiri only):
                                                                                      2023

                                                                                                                                Apresiasi
                                                                                                              UUK TK             Pensiun/
                                                                                                              dan/and            Pension
                                                 DPBMS         DPBMD         DPBMT            DPBME          PKB BMRI          appreciation

                PVDBO pada awal tahun             1.321.307     1.453.643      600.389          466.605            1.879.403          67.151        Beginning balances of PVDBO
                Biaya jasa kini                           -                          -                -              198.515           9.771                   Current service cost
                Biaya bunga atas PVDBO               90.056       99.689        41.260           32.005              133.304           4.700               Interest cost of PVDBO
                Biaya jasa lalu                           -                          -                -                    -               -                     Past service cost
                Biaya pesangon                            -                          -                -               10.138               -                        Severance pay
                Pembayaran imbalan dari                                                                                                                     Benefit payments from
                   aset program                   (175.312)     (176.085)      (70.365)         (56.355)           (106.625)          (5.545)                       plan assets

                (Keuntungan)/kerugian                                                                                                                     Actuarial (gain)/losses
                   aktuarial dari PVDBO:                                                                                                                        from PVDBO:
                (Keuntungan)/kerugian atas                                                                                                             (Gain)/losses on change of
                   perubahan asumsi ekonomis        44.285        51.437        21.085             18.707            91.329            9.620           assumption in economic
                (Keuntungan)/Kerugian atas
                   penyesuaian pengalaman                                                                                                             (Gain)/losses on experience
                   (experience adjustment)         (27.609)      (45.236)      (21.516)         (21.150)           (139.790)         (2.189)                        adjustment


                PVDBO pada akhir tahun            1.252.727     1.383.448      570.853          439.812            2.066.274          83.508         Ending balances of PVDBO


                                                                                      2022

                                                                                                                                Apresiasi
                                                                                                              UUK TK             Pensiun/
                                                                                                              dan/and            Pension
                                                 DPBMS         DPBMD         DPBMT            DPBME          PKB BMRI          appreciation

                PVDBO pada awal tahun             1.391.911     1.555.396      648.544          483.878            1.920.311          62.781        Beginning balances of PVDBO
                Biaya jasa kini                           -             -            -                -              200.823           6.745                   Current service cost
                Biaya bunga atas PVDBO               88.495       100.012       41.755           30.770              139.120           4.516               Interest cost of PVDBO
                Biaya jasa lalu                           -             -            -                -                1.603               -                     Past service cost
                Biaya pesangon                            -             -            -                -               33.660               -                        Severance pay
                Pembayaran imbalan dari                                                                                                                     Benefit payments from
                   aset program                    (181.026)    (169.254)       (68.983)        (62.751)           (130.766)          (5.140)                       plan assets

                (Keuntungan)/kerugian                                                                                                                     Actuarial (gain)/losses
                   aktuarial dari PVDBO:                                                                                                                        from PVDBO:
                (Keuntungan)/kerugian atas                                                                                                             (Gain)/losses on change of
                   perubahan asumsi ekonomis        (35.997)      (44.465)      (20.065)        (12.007)             41.455             (866)          assumption in economic
                (Keuntungan)/Kerugian atas
                   penyesuaian pengalaman                                                                                                             (Gain)/losses on experience
                   (experience adjustment)          57.924        11.954            (862)          26.715          (326.803)            (885)                       adjustment


                PVDBO pada akhir tahun            1.321.307     1.453.643      600.389          466.605            1.879.403          67.151         Ending balances of PVDBO




1402 PT Bank Mandiri (Persero) Tbk                                                           335
Page 896
     CORPORATE                        ESG COMMITMENTS                         SOCIAL AND ENVIRONMENTAL                                 LAPORAN
                                                                                                                                         Financial
     GOVERNANCE                       & PRACTICES                             RESPONSIBILITY                                           KEUANGAN   2023
                                                                                                                                         Statements 2023


                                                PT BANK MANDIRI (PERSERO) Tbk.
                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                        (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                                      51. PENSION PLAN AND SEVERANCE PAY (continued)

    Rekonsiliasi atas aset program (Bank Mandiri saja):                             Reconciliation of plan assets (Bank Mandiri only):

                                                                                 2023

                                                  DPBMS           DPBMD                 DPBMT                     DPBME



    Nilai wajar aset program pada                                                                                                           Beginning fair value of
       awal tahun                                  1.420.106        1.465.542                 626.880                608.820                        plan assets
    Pembayaran imbalan dari                                                                                                                 Benefit payments from
       aset program                                (175.312)        (176.085)                 (70.365)              (56.355)                        plan assets
    Pendapatan bunga atas                                                                                                                       Interest income in
       aset program                                  97.269             100.557                43.194                 42.387                        plan assets
    Hasil aset program                                                                                                                       Result of plan assets
       (tidak termasuk pendapatan bunga)            (46.792)             14.855               (15.847)                (8.153)         (exclude interest income)

    Nilai wajar aset program pada                                                                                                          Ending fair value plan
       akhir tahun                                 1.295.271        1.404.869                 583.862                586.699                            assets



                                                                                 2022

                                                  DPBMS           DPBMD                 DPBMT                     DPBME


    Nilai wajar aset program pada                                                                                                           Beginning fair value of
       awal tahun                                  1.530.656        1.592.830                 653.055                654.604                        plan assets
    Pembayaran imbalan dari                                                                                                                 Benefit payments from
       aset program                                 (181.026)           (169.254)             (68.983)               (62.751)                       plan assets
    Pendapatan bunga atas                                                                                                                       Interest income in
       aset program                                  97.929             102.558                42.062                 42.379                        plan assets
    Hasil aset program                                                                                                                       Result of plan assets
       (tidak termasuk pendapatan bunga)             (27.453)            (60.592)                 746                (25.412)         (exclude interest income)

    Nilai wajar aset program pada                                                                                                          Ending fair value plan
       akhir tahun                                 1.420.106        1.465.542                 626.880                608.820                            assets


    Mutasi penghasilan komprehensif lainnya:                                        Movements in other comprehensive income:

    Mutasi penghasilan komprehensif lainnya untuk Bank                              Movements in other comprehensive income for the
    Mandiri saja untuk tahun yang berakhir pada tanggal                             Bank Mandiri only for the year ended 31 December
    31 Desember 2023 dan 2022 adalah sebagai berikut:                               2023 and 2022 as follows:
                                                                         2023

                                                                                                                   Apresiasi
                                                                                                 UUK TK             Pensiun/
                                                                                                 dan/and            Pension
                                      DPBMS       DPBMD         DPBMT           DPBME           PKB BMRI          appreciation

    Akumulasi keuntungan aktuarial                                                                                                     Accumulated of actuarial gains
       awal tahun                             -           -               -               -         1.821.130             4.592                on beginning year
    Keuntungan/(kerugian) aktuarial                                                                                                          Actuarial gain/(loss) of
       tahun berjalan                         -           -               -               -              48.461         (7.431)                  the current year


    Akumulasi keuntungan/(kerugian)                                                                                               Accumulated actuarial gains/(loss)
      aktuarial akhir tahun                   -           -               -               -         1.869.591           (2.839)                  on ending year


                                                                         2022

                                                                                                                   Apresiasi
                                                                                                 UUK TK             Pensiun/
                                                                                                 dan/and            Pension
                                      DPBMS       DPBMD         DPBMT           DPBME           PKB BMRI          appreciation

    Akumulasi keuntungan aktuarial                                                                                                     Accumulated of actuarial gains
       awal tahun                             -           -               -               -         1.535.782             2.841                on beginning year
    Keuntungan/(kerugian) aktuarial                                                                                                          Actuarial gain/(loss) of
       tahun berjalan                         -           -               -               -          285.348              1.751                  the current year


    Akumulasi keuntungan/(kerugian)                                                                                               Accumulated actuarial gains/(loss)
      aktuarial akhir tahun                   -           -               -               -         1.821.130             4.592                  on ending year




                                                                                336                                                      ANNUAL REPORT 2023             1403
Page 897
            MAIN                            MANAGEMENT                            COMPANY                            MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                               PROFILE                            ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


            51. DANA PENSIUN DAN PESANGON (lanjutan)                                  51. PENSION PLAN AND SEVERANCE PAY (continued)

                Jatuh tempo dari manfaat pada tanggal 31 Desember                          Employee benefits liabilities maturing on 31 December
                2023 dan 2022 adalah sebagai berikut untuk UUK No.                         2023 and 2022 related to UUK No. 13/2003 are as
                13/2003:                                                                   follows:

                                                                          2023                        2022

                Tahun ke-1                                                    182.474                    158.350                               Year 1
                Tahun ke-2                                                    211.216                    189.223                               Year 2
                Tahun ke-3                                                    293.287                    246.688                               Year 3
                Tahun ke-4                                                    332.295                    331.017                               Year 4
                Tahun ke-5                                                    380.269                    380.023                               Year 5
                Tahun ke-6 dan seterusnya                                   9.439.553                  8.074.873                     Year 6 and others

                Total                                                     10.839.094                   9.380.174                                   Total



                Rata-rata durasi kewajiban manfaat pasti adalah 7,15                       The average duration of the defined benefit obligation
                dan 10,42 tahun, dan kewajiban iuran pasti adalah                          is 7.15 and 10.42 years and the defined contribution
                11,33 dan 15,57 tahun per tanggal 31 Desember                              obligation is 11.33 and 15.57 years as of 31 December
                2023 dan 2022.                                                             2023 and 2022, respectively.

                Perhitungan aktuaria atas liabilitas manfaat pensiun                       Actuary’s calculation of employee pension benefits for
                untuk Bank saja pada tanggal 31 Desember 2023 dan                          Bank only as of 31 December 2023 and 2022 were
                2022 didasarkan atas estimasi perhitungan aktuaria                         based on estimated actuarial calculation for the year
                untuk tahun yang berakhir pada tanggal 31 Desember                         ended 31 December 2023 and 2022, that listed in the
                2023 dan 2022 yang tercantum pada laporan dari                             report from the Enny Diah Awal Actuary Consultant
                Kantor Konsultan Aktuaria Enny Diah Awal tanggal                           Firm dated 4 January 2024 and 3 January 2023 using
                4 Januari 2024 dan 3 Januari 2023 dengan metode                            the Projected Unit Credit method.
                Projected Unit Credit.

                Penyisihan atas tunjangan masa kerja pegawai pada                          Provision for employee service entitlements of
                tanggal 31 Desember 2023 and 2022 Entitas Anak                             Subsidiaries as of 31 December 2023 and 2022 were
                telah dihitung oleh aktuaria independen sebagaimana                        calculated by an independent actuary as included in the
                tercantum dalam laporan aktuaria independen                                independent actuarial report as follows:
                sebagai berikut:

                         Nama Entitas Anak/                           Aktuaria independen/
                        Name of Subsidiaries                          Independent actuary                           2023                    2022

                                                       Kantor Konsultan Aktuaria Steven & Mouritz/                  15 Desember/               9 Januari/
                PT Bank Syariah Indonesia Tbk.         Steven & Mouritz Actuarial Consultant Office                December 2023            January 2023
                                                       Kantor Konsultan Aktuaria Steven & Mouritz/                      3 Januari/         30 Desember/
                PT Mandiri Sekuritas                   Steven & Mouritz Actuarial Consultant Office                  January 2024         December 2022
                                                       Kantor Konsultan Aktuaria Nandi dan Sutama/                     19 Januari/             6 Januari/
                PT Bank Mandiri Taspen                 Nandi and Sutama Actuarial Consultant Office                  January 2024           January 2023
                                                       Kantor Konsultan Aktuaria Steven & Mourits/                      2 Januari/             2 Januari/
                PT Mandiri Tunas Finance               Steven & Mouritz Actuarial Consultant Office                  January 2024           January 2023
                                                       Kantor Konsultan Aktuaria Steven & Mourits/                      5 Januari/            11 Januari/
                PT AXA Mandiri Financial Services      Steven & Mouritz Actuarial Consultant Office                  January 2024           January 2023
                                                       Kantor Konsultan Aktuaria Nurichwan/                             3 Januari/             2 Januari/
                PT Asuransi Jiwa InHealth Indonesia    Nurichwan Actuarial Consulting Office                         January 2024           January 2023
                                                       Kantor Konsultan Aktuaria Bambang Sudrajad/                     15 Januari/         31 Desember/
                PT Mandiri Utama Finance               Bambang Sudrajad Actuarial Consultant Office                  January 2024         December 2022




1404 PT Bank Mandiri (Persero) Tbk                                                      337
Page 898
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


51. DANA PENSIUN DAN PESANGON (lanjutan)                        51. PENSION PLAN AND SEVERANCE PAY (continued)

    Sensitivitas dari kewajiban imbalan pasti terhadap                 The sensitivity of the defined benefit obligation to
    perubahan asumsi aktuaria adalah sebagai berikut                   changes in actuarial assumptions are as follows
    (Bank Mandiri saja) (tidak diaudit):                               (Bank Mandiri only) (unaudited):
                                                     2023                     2022

    Perubahan asumsi:                                                                                 Changes of assumptions:
      Kenaikan 1% tingkat diskonto                     (1.934.239)             (1.714.955)       1% increase in discount rate
      Penurunan 1% tingkat diskonto                     2.215.459               2.112.449       1% decrease in discount rate


52. BEBAN OPERASIONAL LAINNYA - LAIN-LAIN -                     52. OTHER OPERATING EXPENSES - OTHERS - NET
    NETO

                                                     2023                     2022

     Premi asuransi untuk program                                                            Insurance premiums on third party
         penjaminan dana nasabah                       2.878.304               2.677.069           funds guarantee program
     Beban provisi dan komisi                          1.091.973                 973.805      Fees and commissions expenses
     Iuran regulator                                     958.286                 861.434                          Regulator fee
     Beban terkait dengan transaksi                                                              Fees related to credit card and
         ATM dan kartu kredit                              773.748               492.891                     ATM transaction
     Kompensasi tenaga pemasaran                                                                Insurance marketing personnel
         asuransi                                          304.118               312.418                       compensation
     Fee bancassurance                                     145.369               187.065                    Bancassurance fee
     Komisi asuransi kelompok                               68.423                74.634          Group insurance commisions
     Beban keanggotaan                                      57.411                53.149                        Membership fee
     Beban transaksi RTGS, remittance                                                         Fees from RTGS, remittance and
         dan kliring                                        57.392                47.122                clearing transactions
     Kerugian penurunan nilai aset ijarah                   13.389               111.239        Impairment loss on ijarah asset
     Beban potongan margin                                                                        Murabahah margin deduction
         murabahah                                               -                22.056                             expense
     Lain-lain                                             363.095               702.878                                  Others

                                                       6.711.508               6.515.760


    Lain-lain terutama terdiri dari beban transaksi                    Others mainly consist of securities trading transaction
    perdagangan efek dan beban administrasi bank.                      expenses and bank administration expenses.


53. PENDAPATAN/(BEBAN) BUKAN OPERASIONAL -                      53. NON-OPERATING (EXPENSE)/INCOME - NET
    NETO

                                                     2023                     2022

    Laba atas penjualan aset tetap                         8.624                    2.821          Gain on sale of fixed assets
    Biaya penarikan aset sitaan                        (118.961)                 (42.267)    Foreclosed assets withdrawal cost
    Lain-lain - neto                                     153.655                 249.083                           Others - net

    Neto                                                    43.318               209.637                                       Net




                                                                     338                                    ANNUAL REPORT 2023       1405
Page 899
            MAIN                                   MANAGEMENT                                     COMPANY                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                             REPORTS                                        PROFILE                                  ANALYSIS


                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                   NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                          FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                          31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)


            54. KOMITMEN DAN KONTINJENSI                                                            54. COMMITMENTS AND CONTINGENCIES

                Akun-akun di bawah ini merupakan akun yang dicatat                                     The following accounts represent accounts which are
                di laporan posisi keuangan konsolidasian ekstra-                                       recorded as off-balance sheet:
                komtabel (off balance sheet):

                                                                                       2023                      2022

                KOMITMEN                                                                                                                                   COMMITMENTS
                Liabilitas komitmen:                                                                                                                   Commitment payables:
                     Fasilitas kredit yang diberikan
                          yang belum digunakan*)                                                                                                   Unused loan facilities*)
                          Pihak berelasi (Catatan 56)                                (82.892.633)              (75.635.375)                   Related parties (Note 56)
                          Pihak ketiga                                              (133.451.445)             (121.899.606)                                Third parties

                                                                                    (216.344.078)             (197.534.981)

                        Letter of credit yang tidak dapat
                             dibatalkan yang                                                                                                       Outstanding irrevocable
                             masih berjalan (Catatan 31):                                                                                      letter of credit (Note 31):
                             Pihak berelasi (Catatan 56)                              (8.039.096)              (13.991.579)                   Related parties (Note 56)
                             Pihak ketiga                                            (12.842.876)               (14.325.702)                                Third parties

                                                                                     (20.881.972)              (28.317.281)

                Liabilitas komitmen - neto                                          (237.226.050)             (225.852.262)                   Commitment payables - net


                KONTINJENSI                                                                                                                              CONTINGENCIES
                Tagihan kontinjensi:                                                                                                                Contingent receivables:
                    Garansi yang diterima dari                                                                                                  Guarantees received from
                        bank lain                                                       29.226.582               28.052.019                                 other banks
                    Pendapatan bunga dalam                                                                                                          Interest receivable on
                        penyelesaian                                                    10.576.751               12.467.774                      non-performing assets
                    Lain-lain                                                               34.338                   34.355                                        Others

                                                                                        39.837.671               40.554.148

                     Liabilitas kontinjensi:                                                                                              Contingent payables:
                         Garansi yang diberikan dalam bentuk:                                                                Guarantees issued in the form of:
                         Bank garansi (Catatan 31):                                                                               Bank guarantees (Note 31):
                               Pihak berelasi (Catatan 56)                           (38.002.449)              (36.092.991)       Related parties (Note 56)
                               Pihak ketiga                                          (76.598.004)               (74.913.516)                   Third parties

                                                                                    (114.600.453)            (111.006.507)

                        Standby letter of credit (Catatan 31)                                                                         Standby letter of credit (Note 31)
                            Pihak berelasi (Catatan 56)                                (6.810.499)                (5.810.458)             Related parties (Note 56)
                            Pihak ketiga                                               (7.948.783)                (6.019.854)                            Third parties

                                                                                     (14.759.282)              (11.830.312)

                        Lain-lain                                                      (3.268.517)               (2.154.323)                                            Others

                     Total                                                          (132.628.252)             (124.991.142)                                                Total

                     Liabilitas kontinjensi - neto                                   (92.790.581)              (84.436.994)                      Contingent payables - net

                                                                                    (330.016.631)            (310.289.256)
                                                                                                       *)   Include unused committed and uncommitted loans facilities
                *)    Termasuk fasilitas kredit committed dan uncommitted yang belum digunakan.




1406 PT Bank Mandiri (Persero) Tbk                                                                   339
Page 900
         CORPORATE                             ESG COMMITMENTS                            SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                                                    Financial
         GOVERNANCE                            & PRACTICES                                RESPONSIBILITY                          KEUANGAN   2023
                                                                                                                                    Statements 2023


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                   (Expressed in millions of Rupiah, unless otherwise stated)


55. TRANSAKSI-TRANSAKSI MATA UANG ASING                                                55. FOREIGN CURRENCY TRANSACTIONS

    Nilai wajar dari transaksi berjangka dan swap                                            The fair value of forward and cross currency swap
    pertukaran mata uang asing disajikan dalam laporan                                       transactions       are    presented   as     derivative
    posisi      keuangan           konsolidasian sebagai                                     receivables/payables in the consolidated statement of
    tagihan/liabilitas derivatif (Catatan 11).                                               financial position (Note 11).

    Rincian transaksi pembelian dan penjualan tunai                                          Details of the outstanding buy and sell foreign currency
    (spot) mata uang asing (Bank Mandiri saja, tidak                                         spot transactions (Bank Mandiri only, there are no spot
    terdapat transaksi spot pada Entitas Anak) pada                                          transactions in Subsidiaries) as of 31 December 2023
    tahun yang berakhir pada tanggal 31 Desember 2023                                        dan 31 December 2022 are as follows:
    dan 2022 adalah sebagai berikut:

                                                                                   2023

                                                         Spot - Beli/Spot - Buy             Spot - Jual/Spot - Sell

                                                       Mata uang
                                                           asal                       Mata uang asal
                                                     (nilai penuh)/     Setara         (nilai penuh)/         Setara
                                                        Original       Rupiah/            Original           Rupiah/
                                                       currency        Rupiah            currency            Rupiah
    Mata uang asal                                   (full amount)    equivalent       (full amount)        equivalent                Original currency


    Dolar Amerika Serikat                              187.499.271        2.886.926        146.507.666           2.255.779            United States Dollar
    Lain-lain*)                                                              83.065                                196.243                        Others*)

                                                                          2.969.991                              2.452.022



                                                                                   2022

                                                         Spot - Beli/Spot - Buy             Spot - Jual/Spot - Sell

                                                       Mata uang
                                                           asal                       Mata uang asal
                                                     (nilai penuh)/     Setara         (nilai penuh)/         Setara
                                                        Original       Rupiah/            Original           Rupiah/
                                                       currency        Rupiah            currency            Rupiah
    Mata uang asal                                   (full amount)    equivalent       (full amount)        equivalent                Original currency


    Dolar Amerika Serikat                              214.415.000        3.337.906        219.939.000           3.423.900            United States Dollar
    Lain-lain*)                                                             266.667                                249.199                        Others*)

                                                                          3.604.573                              3.673.099


    *)
            Terdiri dari berbagai mata uang asing.                                           *)   Consist of various currencies




56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                              56. RELATED PARTY TRANSACTIONS

    Dalam rangka menjalankan bisnis normalnya, Bank                                          In the normal course of business, Bank Mandiri entered
    Mandiri memiliki transaksi usaha yang signifikan                                         into certain significant transactions with the following
    dengan pihak-pihak berelasi sebagai berikut:                                             related parties:

    •       Hubungan pihak berelasi sebagai pemegang                                         •    Related party relationship as the controlling
            saham utama:                                                                          shareholder:

            Pemerintah              Republik             Indonesia       melalui                  The Government of the Republic of Indonesia
            Kementerian.                                                                          through the Ministry.




                                                                                           340                                     ANNUAL REPORT 2023        1407
Page 901
            MAIN                           MANAGEMENT                             COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                     REPORTS                                PROFILE                              ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


            56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                56. RELATED PARTY TRANSACTIONS (continued)
                (lanjutan)

                Dalam rangka menjalankan bisnis normalnya, Bank                           In the normal course of business, Bank Mandiri entered
                Mandiri memiliki transaksi usaha yang signifikan                          into certain significant transactions with the following
                dengan pihak-pihak berelasi sebagai berikut                               related parties (continued):
                (lanjutan):

                • Hubungan     pihak    berelasi oleh                  karena              • Related parties relationship by ownership and/or
                  kepemilikan dan/atau kepengurusan:                                         management:

                   - Sifat dari hubungan                                                    - Nature of relationship

                    No.       Pihak berelasi/Related parties       No.       Pihak berelasi/Related parties      No.        Pihak berelasi/Related parties
                   a. Bank Mandiri sebagai pendiri/Bank Mandiri as a founder
                      1     Dana Pensiun Bank Mandiri               3      Dana Pensiun Bank Mandiri 2           5        Dana Pensiun Bank Mandiri 4
                      2     Dana Pensiun Bank Mandiri 1             4      Dana Pensiun Bank Mandiri 3

                   b. Dikendalikan oleh Dana Pensiun Bank Mandiri (sejak tanggal 19 Desember 2013)/Controlled by Dana Pensiun Bank Mandiri (since 19
                      December 2013)
                      6      PT Bumi Daya Plaza

                   c. Dikendalikan oleh Dana Pensiun Bank Mandiri (sejak tanggal 19 Desember 2013)/Controlled by Dana Pensiun Bank Mandiri (since 19
                      December 2013)
                      7      PT Pengelola Investama Mandiri

                   d. Dikendalikan oleh Dana Pensiun Bank Mandiri (sejak tanggal 19 Desember 2013)/Controlled by Dana Pensiun Bank Mandiri (since 19
                      December 2013)
                      8      PT Usaha Gedung Mandiri

                   e. Dikendalikan oleh Dana Pensiun Bank Mandiri 1/Controlled by Dana Pensiun Bank Mandiri 1
                      9      PT Estika Daya Mandiri

                   f. Dikendalikan oleh Dana Pensiun Bank Mandiri 2/Controlled by Dana Pensiun Bank Mandiri 2
                     10      PT Asuransi Staco Mandiri (dahulu
                                PT Asuransi Staco
                                Jasapratama)

                   g. Dikendalikan oleh Dana Pensiun Bank Mandiri 3/Controlled by Dana Pensiun Bank Mandiri 3
                    11       PT Mulia Sasmita Bhakti

                   h. Dikendalikan oleh Dana Pensiun Bank Mandiri 4/Controlled by Dana Pensiun Bank Mandiri 4
                    12       PT Krida Upaya Tunggal                13      PT Wahana Optima Permai

                   i. Dipengaruhi secara signifikan oleh Bank Mandiri/Significantly influenced by Bank Mandiri
                     14     Koperasi Kesehatan Pegawai dan
                               Pensiunan Bank Mandiri
                               (Mandiri Healthcare)



                     Sifat dari transaksi dengan pihak-pihak berelasi                           Nature of related party transaction consists of
                     antara lain adalah penyertaan saham, efek-efek                             investment in shares, debt securities issued, fund
                     yang diterbitkan, pinjaman dan efek-efek                                   borrowings and subordinated loans, loans and
                     subordinasi,    kredit  yang    diberikan   dan                            sharia receivables/financing, customer deposits,
                     piutang/pembiayaan syariah, simpanan nasabah,                              and bank guarantees.
                     dan bank garansi.




1408 PT Bank Mandiri (Persero) Tbk                                                      341
Page 902
     CORPORATE                      ESG COMMITMENTS                      SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                      Financial
     GOVERNANCE                     & PRACTICES                          RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                      Statements 2023


                                             PT BANK MANDIRI (PERSERO) Tbk.
                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                               56. RELATED PARTY TRANSACTIONS (continued)
    (lanjutan)
    Dalam rangka menjalankan bisnis normalnya, Bank                          In the normal course of business, Bank Mandiri entered
    Mandiri memiliki transaksi usaha yang signifikan                         into certain significant transactions with the following
    dengan pihak-pihak berelasi sebagai berikut                              related parties (continued):
    (lanjutan):

    • Hubungan pihak berelasi                 dengan        entitas          • Related parties relationship with government
      Pemerintah (lanjutan):                                                   related entities (continued):

       - Sifat dari hubungan                                                   - Nature of relationship

        No.         Pihak berelasi/Related parties     No.      Pihak berelasi/Related parties      No.     Pihak berelasi/Related parties
       a. Entitas Anak dari BUMN/Subsidiary of State Owned Enterprise
          1       EPC Energy Singapore Pte. Ltd        57     PT Balai Pustaka                      113   PT Damar Bahtera Laju Abadi
          2       Indometal London Ltd                 58     PT Banggai Bahtera Laju Abadi         114   PT Danareksa Capital
          3       KSO Hutama – Wika – Adipatria        59     PT Bangkit Bahtera Laju Abadi         115   PT Danareksa Finance
                     (Irigasi Kapuas)
          4       Maurel et Prom                       60     PT Bangun Persada Jambi Energi        116   PT Dasaplast Nusantara
          5       MIND ID TRADING Pte Ltd              61     PT Bank Hibank Indonesia              117   PT Dayamitra Telekomunikasi
          6       PHE ONWJ LLC                         62     PT Bank Raya Indonesia (dahulu        118   PT Dharma Lautan Nusantara
                                                                 PT BRI Agroniaga Tbk)
          7       PHE OSES                             63     PT Banyan Koalindo Lestari            119   PT Dirgantara Indonesia
          8       PT Abipraya Nusantara Energi         64     PT Batubara Bukit Kendi               120   PT Dok dan Perkapalan Air Kantung
          9       PT Adhi Commuter Properti            65     PT Baturaja Multi Usaha               121   PT Dok dan Perkapalan Waiame
         10       PT Adhi Persada Beton                66     PT Barung Bahtera Laju Abadi          122   PT Dwimitra Enggang Khatulistiwa
         11       PT Adhi Persada Gedung               67     PT Belitung Intipermai                123   PT Electronic Data Interchange
                                                                                                             Indonesia
        12      PT Adhi Persada Properti               68      PT Benggala Bahtera Laju Abadi       124   PT Elnusa Fabrikasi Konstruksi
        13      PT Administrasi Medika                 69      PT Bepondi Bahtera Laju Abadi        125   PT Elnusa Geosains Indonesia
        14      PT Aero Globe Indonesia                70      PT Berdikari                         126   PT Elnusa Oilfield Services
        15      PT Aero Systems Indonesia              71      PT Berdikari Logistik Indonesia      127   PT Elnusa Petrofin
        16      PT Aero Wisata                         72      PT Berdikari United Livestock        128   PT Elnusa Tbk
        17      PT Aerofood Indonesia                  73      PT Berkah Multi Cargo                129   PT Elnusa Trans Samudera
        18      PT Aerojasa Cargo                      74      PT Berlian Jasa Terminal Indonesia   130   PT Eltran Indonesia
        19      PT Aerotrans Service Indonesia         75      PT BGR Logistik Indonesia            131   PT Emas Antam Indonesia
        20      PT Agro Sinergi Nusantara              76      PT Bhirawa Steel                     132   PT Energi Agro Nusantara
        21      PT Akses Pelabuhan Indonesia           77      PT Bima Sepaja Abadi                 133   PT Energi Biomasa Indonesia
        22      PT Alam Lestari Nusantara              78      PT BNI Asset Management              134   PT Energi Pelabuhan Indonesia
        23      PT Alor Bahtera Laju Abadi             79      PT BNI Life Insurance                135   PT Energy Management Indonesia
        24      PT Alur Pelayaran Barat Surabaya       80      PT BNI Sekuritas                     136   PT Equiport Inti Indonesia
        25      PT Aneka Tambang Tbk                   81      PT Borneo Alumina Indonesia          137   PT Farmalab Indoutama
        26      PT Angkasa Pura Aviasi                 82      PT Borneo Edo International          138   PT Feni Haltim
        27      PT Angkasa Pura Hotel                  83      PT Brantas Adya Surya Energi         139   PT Finnet Indonesia
        28      PT Angkasa Pura I                      84      PT Brantas Cakrawala Energi          140   PT Gadang Hidro Energi
        29      PT Angkasa Pura II                     85      PT Brantas Energi                    141   PT Gag Nikel
        30      PT Angkasa Pura Kargo                  86      PT Brantas Energi Mandiri            142   PT Gagas Energi Indonesia
        31      PT Angkasa Pura Logistic               87      PT Brantas Hidro Energi              143   PT Gapura Angkasa
        32      PT Angkasa Pura Properti               88      PT Brantas Mahalona Energi           144   PT Garam
        33      PT Angkasa Pura Propertindo            89      PT Brantas Nipajaya Energi           145   PT Garuda Maintenance Facility
                                                                                                             Aero Asia Tbk
        34      PT Angkasa Pura Retail                90       PT Brantas Prospek Energi            146   PT Gema Hutani Lestari
        35      PT Angkasa Pura Sarana Digital        91       PT Brantas Prospek Enjineering       147   PT GIEB Indonesia
        36      PT Angkasa Pura Solusi                92       PT Brass Bahtera Laju Abadi          148   PT GIH Indonesia
        37      PT Angkasa Pura Solusi Integra        93       PT BRI Multifinance Indonesia        149   PT Gitanusa Sarana Niaga
        38      PT Angkasa Pura Support               94       PT Bromo Steel Indonesia             150   PT Graha Investama Bersama
        39      PT Antam Resourcindo                  95       PT Bukit Asam Medika                 151   PT Graha Sarana Duta
        40      PT Ararkula Bahtera Laju Abadi        96       PT Bukit Asam Prima                  152   PT Graha Yasa Selaras
        41      PT Aru Bahtera Laju Abadi             97       PT Bukit Asam Tbk                    153   PT Grahaniaga Tata Utama
        42      PT Artha Daya Coalindo                98       PT Bukit Energi Investama            154   PT Griyaton Indonesia
        43      PT Askrindo Mitra Utama               99       PT Bukit Energi Service Terpadu      155   PT Gunung Gajah Abadi
        44      PT Asuransi BRI Life                  100      PT Bukit Multi Investama             156   PT Gunung Kendaik
        45      PT Asuransi Jasa Indonesia            101      PT Bukit Multi Properti              157   PT HaKaAston
        46      PT Asuransi Jasindo Syariah           102      PT Bukit Prima Bahari                158   PT Haleyora Power
        47      PT Asuransi Jiwa IFG                  103      PT Bumi Sawindo Permai               159   PT Haleyora Powerindo
        48      PT Asuransi Jiwa Taspen               104      PT Cibaliung Sumber Daya             160   PT Hasta Kreasi Mandiri
        49      PT Asuransi Kredit Indonesia          105      PT Cinere Serpong Jaya               161   PT HK Infrastruktur
        50      PT Asuransi Tugu Pratama              106      PT Citilink Indonesia                162   PT HK Realtindo
                   Indonesia Tbk
        51      PT Badak Arun Solusi                  107      PT Citra Lautan Teduh                163   PT Hotel Indonesia Group
        52      PT Bahana Artha Ventura               108      PT Citra Tobindo Sukses Perkasa      164   PT Hotel Indonesia Natour
        53      PT Bahana Securities                  109      PT Cogindo Daya Bersama              165   PT Hotel Indonesia Properti
        54      PT Bahana TCW Investment              110      PT Cut Meutia Medika Nusantara       166   PT Hutama Marga Waskita
                   Management
        55      PT Bakti Timah Medika                 111      PT Dahana                            167   PT Igasar
        56      PT Balai Lelang Artha Gasia (Beku     112      PT Damanusa Bahtera Laju Abadi       168   PT Indo Ridlatama Power
                   Operasi)




                                                                           342                                       ANNUAL REPORT 2023       1409
Page 903
            MAIN                            MANAGEMENT                             COMPANY                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                                PROFILE                              ANALYSIS


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in millions of Rupiah, unless otherwise stated)


            56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                56. RELATED PARTY TRANSACTIONS (continued)
                (lanjutan)

                Dalam rangka menjalankan bisnis normalnya, Bank                           In the normal course of business, Bank Mandiri entered
                Mandiri memiliki transaksi usaha yang signifikan                          into certain significant transactions with the following
                dengan pihak-pihak berelasi sebagai berikut                               related parties (continued):
                (lanjutan):

                • Hubungan pihak berelasi                     dengan     entitas          • Related parties relationship with government
                  Pemerintah (lanjutan):                                                    related entities (continued):

                   - Sifat dari hubungan (lanjutan)                                            - Nature of relationship (continued)
                    No.         Pihak berelasi/Related parties     No.      Pihak berelasi/Related parties        No.        Pihak berelasi/Related parties
                   a. Entitas Anak dari BUMN/Subsidiary of State Owned Enterprise (lanjutan/continued)
                    169       PT Indofarma Global Medika           217    PT Jasamarga Tollroad                   265      PT Krakatau Perbengkelan dan
                                                                             Maintenance                                      Perawatan
                    170       PT Indofarma Tbk                     218    PT Jasamarga Tollroad Operator          266      PT Krakatau Pipe Industries
                                                                                                                              (sebelumnya KHI Pipe
                                                                                                                              Industries)
                   171      PT Indonesia Chemical Alumina          219      PT Jasamarga Transjawa Tol            267      PT Krakatau Sarana Infrastruktur
                   172      PT Indonesia Coal Resources            220      PT Jasaraharja Putera                 268      PT Krakatau Tirta Industri
                   173      PT Indonesia Comnets Plus              221      PT Jawa Satu Power                    269      PT Lamong Energi Indonesia
                   174      PT Indonesia Ferry Property            222      PT Jembatan Nusantara                 270      PT Lamong Nusantara Gas
                   175      PT Indonesia Kendaraan Terminal        223      PT KA Logistik                        271      PT Laras Astra Kartika
                               Tbk
                   176      PT Indonesia Papua Metal dan           224      PT KA Pariwisata                      272      PT LEN Rekaprima Semesta
                               Mineral
                   177      PT Indonesia Power                     225      PT KA Properti Manajemen              273      PT LEN Railway Systems
                   178      PT Indonesian Air & Marine Supply      226      PT Kalimantan Agro Nusantara          274      PT LEN Telekomunikasi Indonesia
                   179      PT Indopelita Aircraft Service         227      PT Kalimantan Jawa Gas                275      PT Limbong Hidro Energi
                   180      PT Industri Karet Nusantara            228      PT Kalimantan Medika Nusantara        276      PT Liran Bahtera Laju Abadi
                   181      PT Industri Kemasan Semen Gresik       229      PT Kaltim Daya Mandiri                277      PT Makassar Coastal City
                   182      PT Industri Nabati Lestari             230      PT Kaltim Industrial Estate           278      PT Mandau Cipta Tenaga
                                                                                                                              Nusantara
                   183      PT Infomedia Nusantara                 231      PT Kaltim Jasa Sekuriti               279      PT Marga Sarana Jabar
                   184      PT Infomedia Solusi Humanika           232      PT Kaltim Kariangau Terminal          280      PT Marga Trans Nusantara
                   185      PT Infrastruktur Telekomunikasi        233      PT Kawasan Berikat Nusantara          281      PT Mega Citra Utama
                               Indonesia
                   186      PT Inhutani I                          234      PT Kawasan Industri Gresik            282      PT Melon Indonesia
                   187      PT Inhutani V                          235      PT Kawasan Industri Kujang            283      PT Menara Maritim Indonesia
                                                                               Cikampek
                   188      PT INKA Multi Solusi                   236      PT Kawasan Industri Makassar          284      PT Meratus Jaya Iron & Steel
                   189      PT Integrasi Logistik Cipta Solusi     237      PT Kawasan Industri Medan             285      PT Merese Mandalika Nusantara
                   190      PT International Mineral Capital       238      PT Kawasan Industri Terpadu           286      PT Merpati Training Centre
                                                                               Batang
                   191      PT Inti Bagas Perkasa                  239      PT Kawasan Industri Wijayakusuma      287      PT Metra Digital Investama
                   192      PT IPC Terminal Petikemas              240      PT KBN Graha Medika                   288      PT Metra Digital Media
                   193      PT ITCI Kayan Hutani                   241      PT KBN Prima Logistik                 289      PT Metranet
                   194      PT ITDC Nusantara Properti             242      PT Kereta Commuter Indonesia          290      PT Metraplasa
                   195      PT ITDC Nusantara Utilitas             243      PT Kertas Padalarang                  291      PT MGPA Nusantara Jaya
                   196      PT ITDC Nusantara Xplorin              244      PT Kharisma Pemasaran Bersama         292      PT Miangas Bahtera Laju Abadi
                                                                               Nusantara
                   197      PT Jalantol Lingkarluar Jakarta        245      PT Kilang Pertamina Balikpapan        293      PT Minahasa Brantas Energi
                   198      PT Jalin Pembayaran Nusantara          246      PT Kilang Pertamina International     294      PT Mirtasari Hotel Development
                   199      PT Jambi Prima Coal                    247      PT Kimia Farma Apotek                 295      PT Mitra Cipta Polasarana
                   200      PT Jaminan Kredit Indonesia            248      PT Kimia Farma Diagnostik             296      PT Mitra Dagang Madani
                   201      PT Jasa Armada Indonesia Tbk           249      PT Kimia Farma Sungwun                297      PT Mitra Kerinci
                                                                               Pharmacopia
                   202      PT Jasa Peralatan Pelabuhan            250      PT Kimia Farma Tbk                    298      PT Mitra Proteksi Madani
                               Indonesia
                   203      PT Jasa Prima Logistik                 251      PT Kimia Farma Trading dan            299      PT Mitra Rajawali Banjaran
                                                                               Distribution
                   204      PT Jasa Raharja                        252      PT Kliring Berjangka Indonesia        300      PT Mitra Tekno Madani
                   205      PT Jasamarga Bali Tol                  253      PT Kliring Perdagangan Berjangka      301      PT Mitra Tour & Travel
                                                                               Indonesia
                   206      PT Jasamarga Balikpapan                254      PT Kodja Terramarin                   302      PT Mitrasraya Adhijasa
                               Samarinda
                   207      PT Jasamarga Gempol Pasuruan           255      PT Krakatau Baja Konstruksi           303      PT Mitratani Dua Tujuh
                                                                               (sebelumnya PT Krakatau
                                                                               Wijatama)
                   208      PT Jasamarga Japek Selatan             256      PT Krakatau Bandar Samudra            304      PT Multi Terminal Indonesia
                   209      PT Jasamarga Jalanlayang               257      PT Krakatau Daya Listrik              305      PT Multimedia Nusantara
                               Cikampek
                   210      PT Jasamarga Jogja Bawen               258      PT Krakatau Engineering               306      PT Nasional Hijau Lestari
                   211      PT Jasamarga Kualanamu Tol             259      PT Krakatau Global Trading            307      PT Nikel Halmahera Timur (NHT)
                                                                               (sebelumnya PT Krakatau
                                                                               National Resources)
                   212      PT Jasamarga Kunciran                  260      PT Krakatau Information               308      PT Nindya Beton
                               Cengkareng                                      Technology
                   213      PT Jasamarga Manado Bitung             261      PT Krakatau Jasa Industri             309      PT Nindya Karya
                                                                               (sebelumnya PT Purna Sentana
                                                                               Baja)
                   214      PT Jasamarga Probolinggo               262      PT Krakatau Jasa Logistik             310      PT Nusa Karya Arindo
                               Banyuwangi
                   215      PT Jasamarga Related Business          263      PT Krakatau Medika                    311      PT Nusa Pratama Property
                   216      PT Jasamarga Surabaya Mojokerto        264      PT Krakatau Niaga Indonesia           312      PT Nusantara Batulicin




1410 PT Bank Mandiri (Persero) Tbk                                                     343
Page 904
     CORPORATE                      ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                       Financial
     GOVERNANCE                     & PRACTICES                           RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                       Statements 2023


                                               PT BANK MANDIRI (PERSERO) Tbk.
                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                56. RELATED PARTY TRANSACTIONS (continued)
    (lanjutan)

    Dalam rangka menjalankan bisnis normalnya, Bank                           In the normal course of business, Bank Mandiri entered
    Mandiri memiliki transaksi usaha yang signifikan                          into certain significant transactions with the following
    dengan pihak-pihak berelasi sebagai berikut                               related parties (continued):
    (lanjutan):

    • Hubungan pihak berelasi                   dengan       entitas          • Related parties relationship with government
      Pemerintah (lanjutan):                                                    related entities (continued):

       - Sifat dari hubungan (lanjutan)                                         - Nature of relationship (continued)

        No.         Pihak berelasi/Related parties     No.      Pihak berelasi/Related parties      No.      Pihak berelasi/Related parties
       a. Entitas Anak dari BUMN/Subsidiary of State Owned Enterprise (lanjutan/continued)
        313       PT Nusantara Medika Utama            369    PT Perkebunan Nusantara XII           425    PT PIM Prima Medika
        314       PT Nusantara Regas                   370    PT Perkebunan Nusantara XIII          426    PT Pindad
        315       PT Nusantara Sebelas Medika          371    PT Perkebunan Nusantara XIV           427    PT Pindad Enjiniring Indonesia
        316       PT Nusantara Sukses Investasi        372    PT Permata Graha Nusantara            428    PT Pindad Medika Utama
        317       PT Nusantara Terminal Services       373    PT Permodalan Nasional Madani         429    PT PINS Indonesia
        318       PT Nusantara Turbin dan Propulsi     374    PT Persada Sokka Tama                 430    PT PJB Investasi
        319       PT Nutech Integrasi                  375    PT Perta Arun Gas                     431    PT PJB Service
        320       PT Optima Nusa Tujuh                 376    PT Pertagas Niaga                     432    PT PLN Batubara
        321       PT Paguntaka Cahaya Nusantara        377    PT Pertamina Bina Medika              433    PT PLN Gas dan Geothermal
        322       PT PAL Indonesia                     378    PT Pertamina Drilling Services        434    PT PLN Tarakan
                                                                 Indonesia
        323       PT PAL Marine Service                379    PT Pertamina EP                       435    PT PLNBB Niaga
        324       PT Palawi Risorsis                   380    PT Pertamina EP Cepu Alas Dara        436    PT PNM Investment Management
                                                                 dan Kemuning
        325       PT PANN Pembiayaan Maritim           381    PT Pertamina Gas                      437    PT Pos Logistik Indonesia
        326       PT Patra Drilling Contractor         382    PT Pertamina Geothermal Energy        438    PT Pos Properti Indonesia
        327       PT Patra Jasa                        383    PT Pertamina Hulu Energi              439    PT PP Energi
        328       PT Patra Logistik                    384    PT Pertamina Hulu Indonesia           440    PT PP Infrastruktur
        329       PT Patra Nusa Data                   385    PT Pertamina Hulu Mahakam             441    PT PP Presisi Tbk
        330       PT Patra Trading                     386    PT Pertamina Hulu Rokan               442    PT PP Properti Jababeka Residen
        331       PT Pefindo Biro Kredit               387    PT Pertamina Hulu Sanga Sanga         443    PT PP Properti Tbk
        332       PT Pegadaian                         388    PT Pertamina Internasional            444    PT PP Semarang Demak
                                                                 Eksplorasi dan Produksi
        333       PT Pegadaian Galeri Dua Empat        389    PT Pertamina International Shipping   445    PT PP Tirta Riau
        334       PT Pekanbaru Permai Propertindo      390    PT Pertamina International Timor      446    PT PP Urban Tbk
                                                                 SA
        335       PT Pelabuhan Bukit Prima             391    PT Pertamina Lubricants               447    PT PPA Finance
        336       PT Pelabuhan Tanjung Priok           392    PT Pertamina Malaysia EP              448    PT PPA Kapital
        337       PT Pelayanan Energi Batam            393    PT Pertamina Marine Engineering       449    PT Pratama Mitra Sejati
        338       PT Pelayanan Listrik Nasional        394    PT Pertamina Marine Solution          450    PT Prima Armada Raya
                     Batam
        339       PT Pelayaran Bahtera Adhiguna        395    PT Pertamina Patra Niaga              451    PT Prima Husada Cipta Medan
        340       PT Pelindo Daya Sejahtera            396    PT Pertamina Pedeve Indonesia         452    PT Prima Indonesia Logistik
        341       PT Pelindo Energi Logistik           397    PT Pertamina Port and Logistic        453    PT Prima Layanan Nasional
                                                                                                              Enjinering
       342      PT Pelindo Husada Citra                398      PT Pertamina Power Indonesia        454    PT Prima Layanan Niaga Suku
                                                                                                              Cadang
       343      PT Pelindo Jasa Maritim                399      PT Pertamina Retail                 455    PT Prima Medica Nusantara
       344      PT Pelindo Marine Service              400      PT Pertamina Training dan           456    PT Prima Multi Terminal
                                                                   Consulting
       345      PT Pelindo Multi Terminal              401      PT Pertamina Trans Kontinental      457    PT Prima Pengembangan Kawasan
       346      PT Pelindo Properti Indonesia          402      PT Pertani Properti                 458    PT Prima Power Nusantara
       347      PT Pelindo Terminal Petikemas          403      PT Peruri Digital Security          459    PT Prima Terminal Peti Kemas
       348      PT Pelita Air Service                  404      PT Peruri Properti                  460    PT Propernas Griya Utama
       349      PT Pelita Indonesia Djaya              405      PT Perusahaan Gas Negara Tbk        461    PT Pupuk Indonesia Energi
                   Corporation
       350      PT Pemalang Batang Toll Road           406      PT Perusahaan Pengelola Aset        462    PT Pupuk Indonesia Logistik
       351      PT Pembangkitan Jawa Bali              407      PT Perusahaan Perdagangan           463    PT Pupuk Indonesia Niaga
                                                                   Indonesia                                  (sebelumnya PT Mega Eltra)
       352      PT Pendawa Lestari Perkasa             408      PT Pesonna Indonesia Jaya           464    PT Pupuk Indonesia Pangan
       353      PT Pendidikan Maritim dan Logistik     409      PT Pesonna Optima Jasa              465    PT Pupuk Iskandar Muda
                   Indonesia
       354      PT Pengembang Pelabuhan                410      PT Peteka Karya Tirta               466    PT Pupuk Kalimantan Timur
                   Indonesia
       355      PT Pengerukan Indonesia                411      PT Petrokimia Gresik                467    PT Pupuk Kujang Cikampek
       356      PT Perjaya Bravo Energi                412      PT Petrokimia Kayaku                468    PT Pupuk Sriwidjaja Palembang
       357      PT Perikanan Indonesia                 413      PT Petronesia Benimel               469    PT Purantara Mitra Angkasa Dua
       358      PT Perkebunan Mitra Ogan               414      PT Petrosida Gresik                 470    PT Puspetindo
       359      PT Perkebunan Nusantara I              415      PT PG Rajawali I                    471    PT Pusri Agro Lestari
       360      PT Perkebunan Nusantara II             416      PT PG Rajawali II                   472    PT Putra Indo Tenaga
       361      PT Perkebunan Nusantara IV             417      PT PGAS Solution                    473    PT Railink
       362      PT Perkebunan Nusantara V              418      PT PGAS Telekomunikasi              474    PT Rajawali Citramass
                                                                   Nusantara
       363      PT Perkebunan Nusantara VI             419      PT PGN LNG Indonesia                475    PT Rajawali Nusindo
       364      PT Perkebunan Nusantara VII            420      PT Phapros Tbk                      476    PT Rajawali Tanjungsari Enjiniring
       365      PT Perkebunan Nusantara VIII           421      PT PHE Abar                         477    PT Rantepao Hidro Energi
       366      PT Perkebunan Nusantara IX             422      PT PHE Metana Kalimantan B          478    PT Ratah Timber
       367      PT Perkebunan Nusantara X              423      PT PHE Metana Sumatera 5            479    PT Reasuransi Nasional Indonesia
       368      PT Perkebunan Nusantara XI             424      PT PHE West Madura Offshore         480    PT Reasuransi Syariah Indonesia




                                                                            344                                        ANNUAL REPORT 2023       1411
Page 905
            MAIN                          MANAGEMENT                              COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                                 PROFILE                           ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in millions of Rupiah, unless otherwise stated)


            56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                               56. RELATED PARTY TRANSACTIONS (continued)
                (lanjutan)

                Dalam rangka menjalankan bisnis normalnya, Bank                          In the normal course of business, Bank Mandiri entered
                Mandiri memiliki transaksi usaha yang signifikan                         into certain significant transactions with the following
                dengan pihak-pihak berelasi sebagai berikut                              related parties (continued):
                (lanjutan):

                • Hubungan pihak berelasi                 dengan        entitas          • Related parties relationship with government
                  Pemerintah (lanjutan):                                                   related entities (continued):

                   - Sifat dari hubungan (lanjutan)                                        - Nature of relationship (continued)

                    No.         Pihak berelasi/Related parties     No.      Pihak berelasi/Related parties    No.        Pihak berelasi/Related parties
                   a. Entitas Anak dari BUMN/Subsidiary of State Owned Enterprise (lanjutan/continued)
                    481       PT Recon Sarana Utama                524    PT Semen Gresik                     567      PT Telkom Landmark Tower
                    482       PT Rekadaya Elektrika                525    PT Semen Indogreen Sentosa          568      PT Telkom Satelit Indonesia
                    483       PT Rekaindo Global Jasa              526    PT Semen Indonesia Aceh             569      PT Telkomsel Ekosistem Digital
                    484       PT Rekayasa Cakrawala Resources      527    PT Semen Indonesia Beton            570      PT Terminal Petikemas Surabaya
                    485       PT Rekayasa Engineering              528    PT Semen Indonesia Distributor      571      PT Terminal Teluk Lamong
                    486       PT Rekayasa Industri                 529    PT Semen Indonesia International    572      PT Tiar Daya Hidro
                    487       PT Rekind Daya Mamuju                530    PT Semen Indonesia Logistik         573      PT Timah Agro Manunggal
                    488       PT Reksasentosa Dinamika             531    PT Semen Kupang Indonesia           574      PT Timah Industri
                    489       PT Reska Multi Usaha                 532    PT Semen Padang                     575      PT Timah Investasi Mineral
                    490       PT Riset Perkebunan Nusantara        533    PT Semen Tonasa                     576      PT Timah Karya Persada Properti
                    491       PT Rolas Nusantara Mandiri           534    PT Senggigi Pratama Internasional   577      PT Timah Tbk
                    492       PT Rolas Nusantara Medika            535    PT Sepatim Batamtama                578      PT Tirta Tangsel Mandiri
                    493       PT Rolas Nusantara Tambang           536    PT Sepoetih Daya Prima              579      PT Tracon Industri
                    494       PT Rumah Sakit Pelabuhan             537    PT SIER                             580      PT Trans Jabar Tol
                    495       PT Rumah Sakit Pelni                 538    PT SIER Puspa Utama                 581      PT Tugu Pratama Interindo
                    496       PT Sabre Travel Network Indonesia    539    PT Sigma Cipta Caraka               582      PT Tugu Reasuransi Indonesia
                    497       PT Sahung Brantas Energi             540    PT Sigma Cipta Utama                583      PT TWC BP dan RB
                    498       PT Saka Energi Bangkanai Barat       541    PT Sigma Utama                      584      PT United Tractors Semen Gresik
                    499       PT Saka Energi Indonesia             542    PT Sinergi Gula Nusantara           585      PT Varia Usaha Bahari
                    500       PT Sang Hyang Seri                   543    PT Sinergi Informatika Semen        586      PT Varia Usaha Beton
                                                                             Indonesia
                    501       PT Sarana Aceh Ventura               544    PT Sinergi Mitra Investama          587      PT Varia Usaha Dharma Segara
                    502       PT Sarana Agro Nusantara             545    PT Sinergi Perkebunan Nusantara     588      PT Varia Usaha Lintas Segara
                    503       PT Sarana Bandar Logistik            546    PT Sinkona Indonesia Lestari        589      PT Waskita Beton Precast Tbk
                    504       PT Sarana Bandar Nasional            547    PT Sintas Kurama Perdana            590      PT Waskita Bumi Wira
                    505       PT Sarana Bengkulu Ventura           548    PT Solusi Bangun Andalas            591      PT Waskita Fim Perkasa Realti
                    506       PT Sarana Jabar Ventura              549    PT Solusi Bangun Beton              592      PT Waskita Karya Infrastruktur
                    507       PT Sarana Jakarta Ventura            550    PT Solusi Bangun Indonesia Tbk      593      PT Waskita Karya Realty
                    508       PT Sarana Jambi Ventura              551    PT Solusi Energy Nusantara          594      PT Waskita Sangir Energi
                    509       PT Sarana Jateng Ventura             552    PT Sri Pamela Medika Nusantara      595      PT Waskita Sriwijaya Tol
                    510       PT Sarana Jatim Ventura              553    PT Sucofindo                        596      PT Waskita Toll Road
                    511       PT Sarana Kalbar Ventura             554    PT Sucofindo Advisory Utama         597      PT Waskita Wado Energy
                    512       PT Sarana Kalsel Ventura             555    PT Sucofindo Episi                  598      PT Wege Solusi Proklamasi
                    513       PT Sarana Kaltim Ventura             556    PT Sumberdaya Arindo                599      PT Widar Mandripa Nusantara
                    514       PT Sarana Multigriya Finansial       557    PT Surveyor Carbon Consulting       600      PT Widya Tirta Selaras
                                                                             Indonesia
                    515       PT Sarana Papua Ventura              558    PT Surveyor Indonesia               601      PT Wijaya Karya Aspal
                    516       PT Sarana Riau Ventura               559    PT Surya Energi Indotama            602      PT Wijaya Karya Bangunan Gedung
                                                                                                                          Tbk
                   517      PT Sarana Sulsel Ventura              560      PT Swadharma Sarana Informatika    603      PT Wijaya Karya Beton Tbk
                   518      PT Sarana Sulut Ventura               561      PT Tanjung Alam Jaya               604      PT Wijaya Karya Bitumen
                   519      PT Sarana Surakarta Ventura           562      PT Telekomunikasi Indonesia        605      PT Wijaya Karya Industri dan
                                                                              International                               Konstruksi
                   520      PT Sari Valuta Asing                  563      PT Telekomunikasi Selular          606      PT Wijaya Karya Pracetak Gedung
                   521      PT Sarinah                            564      PT Telemedia Dinamika Sarana       607      PT Wijaya Karya Realty
                   522      PT Satria Bahana Sarana               565      PT Telkom Akses                    608      PT Wijaya Karya Rekayasa
                                                                                                                          Konstruksi
                   523      PT Semen Baturaja (Persero) Tbk       566      PT Telkom Data Ekosistem (TDE)     609      PT Wijaya Karya Serang
                                                                              (sebelumnya PT Sigma Tata                   Panimbang
                                                                              Sadaya)




1412 PT Bank Mandiri (Persero) Tbk                                                     345
Page 906
     CORPORATE                      ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                       Financial
     GOVERNANCE                     & PRACTICES                           RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                       Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                56. RELATED PARTY TRANSACTIONS (continued)
    (lanjutan)

    Dalam rangka menjalankan bisnis normalnya, Bank                            In the normal course of business, Bank Mandiri entered
    Mandiri memiliki transaksi usaha yang signifikan                           into certain significant transactions with the following
    dengan pihak-pihak berelasi sebagai berikut                                related parties (continued):
    (lanjutan):

    • Hubungan pihak berelasi                    dengan      entitas           • Related parties relationship with government
      Pemerintah (lanjutan):                                                     related entities (continued):

       - Sifat dari hubungan (lanjutan)                                          - Nature of relationship (continued)

        No.         Pihak berelasi/Related parties     No.      Pihak berelasi/Related parties       No.      Pihak berelasi/Related parties
       a. Entitas Anak dari BUMN/Subsidiary of State Owned Enterprise (lanjutan/continued)
        610       PT WIKA Industri Manufaktur          613    PT Wisma Seratus Sejahtera             616    Timah International Investment Pte
                                                                                                            Ltd
       611      PT WIKA Komponen Beton                 614      PT Yasa Industri Nusantara
       612      PT WIKA Krakatau Beton                 615      Saka Indonesia Pangkah BV

       b. Entitas Asosiasi dari BUMN/Associate Company of State Owned Enterprise
        617       PT Fintek Karya Nusantara

       c. Badan Usaha Milik Negara/State Owned Enterprise
        618     Perum BULOG                          644        PT Brantas Abipraya (Persero)        670    PT PANN (Persero)
        619     Perum Damri                          645        PT Danareksa (Persero)               671    PT PDI Pulau Batam (Persero)
        620     Perum Jasa Tirta I                   646        PT Djakarta Lloyd (Persero)          672    PT Pelabuhan Indonesia (Persero)
        621     Perum Jasa Tirta II                  647        PT Dok dan Perkapalan Kodja          673    PT Pelayaran Nasional Indonesia
                                                                   Bahari (Persero)                            (Persero)
       622      Perum Lembaga Kantor Berita            648      PT Dok dan Perkapalan Surabaya       674    PT Pembangunan Perumahan
                   Nasional Antara                                 (Persero)                                   (Persero) Tbk
       623      Perum LPPNPI                           649      PT Garuda Indonesia (Persero) Tbk    675    PT Pengembangan Pariwisata
                                                                                                               Indonesia (Persero)
       624      Perum Pengangkutan Penumpang           650      PT Hutama Karya (Persero)            676    PT Perkebunan Nusantara III
                   Djakarta                                                                                    (Persero)
       625      Perum Percetakan Negara Republik       651      PT Iglas (Persero)                   677    PT Pertamina (Persero)
                   Indonesia
       626      Perum Percetakan Uang Republik         652      PT Indah Karya (Persero)             678    PT Perusahaan Listrik Negara
                   Indonesia                                                                                   (Persero)
       627      Perum Perhutani                        653      PT Indonesia Asahan Aluminium        679    PT Pos Indonesia (Persero)
                                                                   (Persero)
       628      Perum Perumnas                         654      PT Indra Karya (Persero)             680    PT Primissima (Persero)
       629      PT Adhi Karya (Persero) Tbk            655      PT Industri Baterai Indonesia        681    PT Pupuk Indonesia (Persero)

       630      PT Amarta Karya (Persero)              656      PT Industri Kapal Indonesia          682    PT Rajawali Nusantara Indonesia
                                                                   (Persero)                                   (Persero)
       631      PT ASABRI (Persero)                    657      PT Industri Kereta Api (Persero)     683    PT Reasuransi Indonesia Utama
                                                                                                               (Persero)
       631      PT ASDP Indonesia Ferry (Persero)      658      PT Industri Nuklir Indonesia         684    PT Sarana Multi Infrastruktur
                                                                   (Persero)
       633      PT Asuransi Jiwasraya (Persero)        659      PT Industri Sandang Nusantara        685    PT Semen Indonesia (Persero) Tbk
                                                                   (Persero)
       634      PT Aviasi Pariwisata Indonesia         660      PT Industri Telekomunikasi           686    PT Semen Kupang (Persero)
                   (Persero)                                       Indonesia (Persero)
       635      PT Bahana Pembinaan Usaha              661      PT Istaka Karya (Persero)            687    PT Taspen (Persero)
                   Indonesia (Persero)
       636      PT Bank Negara Indonesia               662      PT Jasa Marga (Persero) Tbk          688    PT Telkom Indonesia (Persero) Tbk
                   (Persero) Tbk
       637      PT Bank Rakyat Indonesia               663      PT Kereta Api Indonesia (Persero)    689    PT Varuna Tirta Prakasya (Persero)
                   (Persero) Tbk
       638      PT Bank Tabungan Negara                664      PT Kertas Kraft Aceh (Persero)       690    PT Virama Karya (Persero)
                   (Persero) Tbk
       639      PT Barata Indonesia (Persero)          665      PT Kertas Leces (Persero) (dalam     691    PT Waskita Karya (Persero) Tbk
                                                                   pailit)
       640      PT Bina Karya (Persero)                666      PT Krakatau Steel (Persero) Tbk      692    PT Wijaya Karya (Persero) Tbk
       641      PT Bio Farma (Persero)                 667      PT LEN Industri (Persero)            693    PT Yodya Karya (Persero)
       642      PT Biro Klasifikasi Indonesia          668      PT Merpati Nusantara Airlines
                   (Persero)                                       (Persero)
       643      PT Boma Bisma Indra (Persero)          669      PT Mineral Industri Indonesia
                                                                   (Persero)

       d. Lembaga Jaminan Sosial/Social Security Institution
        694    BPJS Kesehatan                          695      BPJS Ketenagakerjaan                 696    Perusahaan Penerbit SBSN
                                                                                                               Indonesia

       e. Lembaga Keuangan/Financial Institution
        697     Lembaga Pembiayaan Ekspor              698      PT Indonesia Infrastruktur Finance   699    PT Penjaminan Infrastruktur
                   Indonesia                                                                                   Indonesia




                                                                            346                                         ANNUAL REPORT 2023       1413
Page 907
            MAIN                       MANAGEMENT                        COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                       ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                      56. RELATED PARTY TRANSACTIONS (continued)
                (lanjutan)

                Dalam rangka menjalankan bisnis normalnya, Bank               In the normal course of business, Bank Mandiri entered
                Mandiri memiliki transaksi usaha yang signifikan              into certain significant transactions with the following
                dengan pihak-pihak berelasi sebagai berikut                   related parties (continued):
                (lanjutan):

                •    Hubungan pihak berelasi dengan entitas                   •    Related parties relationship with government
                     Pemerintah (lanjutan):                                        related entities (continued):

                     Sifat dari transaksi dengan pihak-pihak berelasi              Nature of transactions with government related
                     entitas pemerintah antara lain adalah giro pada               entities are current accounts with other bank,
                     bank lain, penempatan pada bank lain, efek-efek,              placements with other banks, marketable
                     obligasi pemerintah, tagihan lainnya - transaksi              securities, government bonds, other receivables -
                     perdagangan, tagihan atas efek-efek yang dibeli               trade transaction, securities purchased under
                     dengan janji dijual kembali, tagihan derivatif,               agreements to resell, derivative receivables, loans
                     kredit yang diberikan dan piutang/pembiayaan                  and sharia receivables/financing, consumer
                     syariah, piutang pembiayaan konsumen, tagihan                 financing receivables, acceptance receivables,
                     akseptasi,     penyertaan     saham,    simpanan              investment in shares, derivative payables, deposit
                     nasabah, simpanan dari bank lain, liabilitas                  from customers, deposits from other bank,
                     derivatif, liabilitas akseptasi, efek-efek yang               acceptance payables, debt securities issued, fund
                     diterbitkan, pinjaman yang diterima, pinjaman                 borrowings, subordinated loans and subordinated
                     dan efek-efek subordinasi, fasilitas kredit yang              marketable securities, unused loan facility,
                     diberikan yang belum digunakan, bank garansi,                 guarantees issued in the form of bank guarantee
                     letter of credit yang tidak dapat dibatalkan yang             and irrevocable letter of credit, and standby letter
                     masih berjalan dan standby letter of credit.                  of credit.

                     Dalam menjalankan kegiatan usahanya, Grup                     In the ordinary course of its business, the Group
                     juga melakukan transaksi pembelian atau                       also purchases or pays for services, such as
                     penggunaan jasa seperti biaya telekomunikasi,                 telecommunication expense, utility expense, and
                     biaya listrik, dan biaya lainnya dengan pihak-                other expenses to government related entities.
                     pihak berelasi entitas pemerintah.

                •    Hubungan manajemen atau karyawan kunci                   •    Transactions with management             and    key
                     Bank Mandiri:                                                 personnel of Bank Mandiri

                     Gaji dan tunjangan, bonus dan tantiem, imbalan                Total gross salaries and allowances, bonus and
                     jangka panjang untuk Dewan Komisaris, Direksi,                tantiem, long-term employment benefits of the
                     Komite Audit dan Komite Pemantau Risiko,                      Boards of Commissioners, Directors, Audit
                     Dewan Pengawas Syariah serta Senior Executive                 Committee and Risk Oversight Committee, Sharia
                     Vice President dan Senior Vice President                      Supervisory Board, and Senior Executive Vice
                     (Catatan 49) untuk tahun yang berakhir pada                   President, and Senior Vice President (Note 49) for
                     tanggal 31 Desember 2023 dan 2022 masing-                     the year ended 31 December 2023 and 2022
                     masing sebesar Rp2.030.660 dan Rp1.837.516                    amounted to Rp2,030,660 and Rp1,837,516 or
                     atau 3,77% dan 3,45% dari jumlah beban                        3.77% and 3.45% of total consolidated other
                     operasional lainnya konsolidasian.                            operating expenses, respectively.




1414 PT Bank Mandiri (Persero) Tbk                                          347
Page 908
     CORPORATE                 ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                             Financial
     GOVERNANCE                & PRACTICES                       RESPONSIBILITY                            KEUANGAN   2023
                                                                                                             Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       56. RELATED PARTY TRANSACTIONS (continued)
    (lanjutan)

    Rincian saldo transaksi dengan pihak-pihak berelasi                Details of transactions with related parties as of 31
    pada tanggal 31 Desember 2023 dan 2022 adalah                      December 2023 and 2022, are as follows:
    sebagai berikut:

                                                     2023                     2022


     Aset                                                                                                               Assets
     Giro pada bank lain                                                                                 Current accounts with
        (Catatan 5a)                                       461.097               110.733               other banks (Note 5a)
     Penempatan pada Bank Indonesia                                                           Placements with Bank Indonesia
        dan bank lain (Catatan 6b)                    2.049.472                3.080.128          and other banks (Note 6b)
     Efek-efek (Catatan 7a)                          23.774.139               27.290.577       Marketable securities (Note 7a)
     Obligasi pemerintah (Catatan 8)                309.182.971              329.211.764          Government bonds (Note 8)
     Tagihan lainnya - transaksi                                                                     Other receivables - trade
        perdagangan (Catatan 9a)                       7.581.513              15.157.619              transactions (Note 9a)
     Tagihan derivatif (Catatan 11)                      198.156                 110.208      Derivative receivables (Note 11)
     Kredit yang diberikan dan                                                                                Loans and sharia
        piutang/pembiayaan syariah                                                                      receivables/financing
        (Catatan 12A.a)                             238.081.020              199.385.546                        (Note 12A.a)
     Piutang pembiayaan konsumen                                                              Consumer financing receivables
        (Catatan 13a)                                     11.542                   7.846                          (Note 13a)
     Tagihan akseptasi (Catatan 15a)                   2.250.427               1.897.509    Acceptance receivables (Note 15a)
     Penyertaan saham (Catatan 16a)                      652.420               1.775.847     Investments in shares (Note 16a)

     Total aset kepada                                                                                        Total assets with
        pihak-pihak berelasi                        584.242.757              578.027.777                       related parties

     Total aset konsolidasian                     2.174.219.449            1.992.544.687           Total consolidated assets


     Persentase total aset kepada                                                             Percentage of total assets with
        pihak-pihak berelasi terhadap                                                               related parties to total
        total aset konsolidasian                           26,87%                 29,01%              consolidated assets




                                                                     348                                    ANNUAL REPORT 2023    1415
Page 909
            MAIN                       MANAGEMENT                        COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                         ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                      56. RELATED PARTY TRANSACTIONS (continued)
                (lanjutan)

                Rincian saldo transaksi dengan pihak-pihak berelasi              Details of transactions with related parties as of 31
                pada tanggal 31 Desember 2023 dan 2022 adalah                    December 2023 and 2022, are as follows (continued):
                sebagai berikut (lanjutan):

                                                                 2023                   2022


                Liabilitas                                                                                                     Liabilities
                Simpanan nasabah                                                                                 Deposits from customers
                     Giro dan giro wadiah                                                                 Demand deposits and wadiah
                          (Catatan 21a)                         166.637.832            157.247.418      demand deposits (Note 21a)
                     Tabungan dan                                                                                  Saving deposits and
                          tabungan wadiah                                                                      wadiah saving deposit
                          (Catatan 22a)                            7.540.541             6.850.898                         (Note 22a)
                     Deposito berjangka (Catatan 23a)             34.852.981            30.665.985            Time deposits (Note 23a)
                Simpanan dari bank lain                                                                        Deposits from other banks
                     Giro, giro wadiah                                                                                Demand deposits,
                          dan tabungan                                                                       wadiah demand deposit
                          (Catatan 24a)                              183.333               174.243    and saving deposits (Note 24a)
                     Inter-bank call money (Catatan 25a)             100.000                     -    Inter-bank call money (Note 25a)
                     Deposito berjangka (Catatan 26a)                384.925               467.025            Time deposits (Note 26a)
                Liabilitas derivatif (Catatan 11)                     76.404                86.933          Derivative payables (Note 11)
                Liabilitas akseptasi (Catatan 29a)                 2.614.261             1.750.123       Acceptance payables (Note 29a)
                Efek-efek yang diterbitkan (Catatan 30)            5.091.435             5.603.550       Debt securities issued (Note 30)
                Pinjaman yang diterima (Catatan 36)                1.765.624             2.210.704             Fund borrowings (Note 36)
                Pinjaman dan efek-efek                                                                            Subordinated loans and
                     subordinasi (Catatan 37)                          10.000               87.000      marketable securities (Note 37)

                Total liabilitas kepada                                                                                Total liabilities with
                    pihak-pihak berelasi                        219.257.336            205.143.879                       related parties

                Total liabilitas konsolidasian                1.660.442.815           1.544.096.631        Total consolidated liabilities

                Persentase total liabilitas kepada                                                    Percentage of total liabilities with
                    pihak - pihak berelasi terhadap                                                           related parties to total
                    total liabilitas konsolidasian                     13,20%               13,29%            consolidated liabilities


                Dana syirkah temporer (Catatan 38)                45.672.621            31.645.978 Temporary syirkah funds (Note 38)

                Persentase terhadap total                                                                           Percentage to total
                    dana syirkah temporer                              20,18%               16,13%           temporary syirkah funds




1416 PT Bank Mandiri (Persero) Tbk                                              349
Page 910
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


56. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                      56. RELATED PARTY TRANSACTIONS (continued)
    (lanjutan)

                                                     2023                    2022

    Laporan laba rugi dan                                                                  Statement of profit or loss and
       penghasilan komprehensif lain                                                      other comprehensive income
    Pendapatan bunga dari obligasi                                                        Interest income from government
       pemerintah dan SPN (Catatan 41)               16.410.277              16.771.870 bonds and treasury bills (Note 41)
    Persentase terhadap pendapatan                                                            Percentage to interest income
        bunga dan pendapatan syariah                       12,38%                14,92%               and sharia income
    Beban bunga pinjaman yang                                                                       Interest expense from fund
       diterima (Catatan 42)                               80.863                 31.672                borrowings (Note 42)
    Persentase terhadap beban bunga                                                          Percentage to interest expense
        dan beban syariah                                   0,22%                   0,13%            and sharia expense


                                                     2023                    2022


    Komitmen dan kontinjensi                                                                  Commitments and contingencies
         (Catatan 54)                                                                                           (Note 54)
    Fasilitas kredit yang diberikan
         yang belum digunakan                        82.892.633              75.635.375                 Unused loan facilities
    Letter of credit yang tidak dapat                                                                 Outstanding irrevocable
         dibatalkan yang masih berjalan                8.039.096             13.991.579                       letter of credit
    Garansi yang diberikan dalam                                                              Guarantees issued in the form of
         bentuk bank garansi                         38.002.449              36.092.991                     bank guarantee
    Garansi yang diberikan dalam                                                              Guarantees issued in the form of
         bentuk standby letter of credit               6.810.499              5.810.458              standby letter of credit
    Total komitmen dan                                                                                Total commitments and
        kontinjensi untuk pihak berelasi            135.744.677             131.530.403     contingencies for related parties
    Total komitmen dan kontinjensi                                                          Total consolidated commitments
        konsolidasian - neto                        330.016.631             310.289.256            and contingencies - net
    Persentase total komitmen                                                           Percentages of total commitments
        dan kontinjensi kepada                                                                       and contingencies
        pihak-pihak berelasi                                                                     with related parties to
        terhadap total komitmen                                                                 total commitments and
        dan kontinjensi - neto                             41,13%                42,39%              contingencies -net




                                                                    350                                    ANNUAL REPORT 2023    1417
Page 911
            MAIN                        MANAGEMENT                       COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                          PROFILE                          ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            57. INFORMASI SEGMEN                                            57. SEGMENT INFORMATION
                Grup telah menyajikan segmen operasi berdasarkan                The Group has presented its operating segments in a
                informasi yang disiapkan secara internal untuk                  manner consistent with the internal reporting provided
                pengambilan keputusan operasional (Catatan 2ak).                for operational decision making (refer to Note 2ak).
                Di bawah ini penjelasan mengenai operasi dari                   The following describes the operations in each
                masing-masing pelaporan segmen per 31 Desember                  reportable segments as of 31 December 2023 and
                2023 dan 2022:                                                  2022:

                 •       Corporate Banking             :   termasuk kredit yang diberikan, simpanan nasabah dan transaksi-transaksi
                                                           lainnya milik nasabah korporasi, baik BUMN dan badan usaha swasta
                                                           dengan skala besar./
                                                           including loans, customer deposits and other transactions which belong to
                                                           corporate customers, including state-owned and private enterprises to large
                                                           scale.

                 •       Commercial Banking            :   termasuk kredit yang diberikan, simpanan nasabah dan transaksi-transaksi
                                                           lainnya milik nasabah komersial dengan skala menengah./
                                                           including loans, customer deposits and other transactions belong to
                                                           commercial customer to medium scale.

                 •    Hubungan Kelembagaan/            :   termasuk kredit yang diberikan, simpanan nasabah dan transaksi - transaksi
                      Government Institution               lainnya milik nasabah lembaga pemerintah dan dana pensiun BUMN./
                                                           including loans, customer deposits and other transactions which belong to
                                                           government entities and pension plan of state-owned enterprises.

                 •    Retail Banking (terdiri dari :       termasuk kredit yang diberikan kepada badan usaha atau individu dengan
                       segmen konsumer/individual,         skala mikro hingga kecil, produk dan jasa lainnya seperti dana pihak ketiga,
                       segmen mikro & bisnis               transaksi pembayaran dan transaksi-transaksi lainnya milik nasabah mikro
                       dan wealth)/                        dan kecil serta merupakan kredit pembiayaan konsumsi termasuk kredit
                      Retail Banking (consists of          kepemilikan rumah, kartu kredit serta produk dan jasa lainnya seperti dana
                       consumer/individual segment         pihak ketiga, transaksi pembayaran dan transaksi-transaksi lainnya milik
                       and micro & business and            nasabah perorangan./
                       wealth segment)                     including loans granted to business entities or individuals with micro-scale to
                                                           small, products or other services such as deposits, payment transactions
                                                           and other transactions which belong to micro and small customers also
                                                           consumer finance loans, including mortgage loans, credit cards and other
                                                           products and services such as deposits, payment transactions and other
                                                           transactions which belong to individual customers.

                 •    Treasury & International         :   segmen treasury terkait dengan kegiatan treasury Bank termasuk transaksi
                        Banking                            valuta asing, money market, fixed income, bisnis perbankan internasional,
                                                           pasar modal, dan Kantor Luar Negeri./
                                                           treasury segment associated with treasury activities of the Bank include
                                                           foreign exchange, money market, fixed income, international banking
                                                           business, capital markets, and the Overseas Branches.
                 •    Kantor Pusat/Head Office         :   terutama mengelola aset dan liabilitas Grup selain yang telah dikelola oleh
                                                           segmen operasi lainnya termasuk menerima alokasi biaya atas penyediaan
                                                           jasa servis secara sentralisasi kepada segmen lainnya serta
                                                           pendapatan/biaya yang tidak teralokasi ke pelaporan segmen lainnya./
                                                           mainly managing the assets and liabilities of the Group other than those
                                                           managed by other operating segments including accepting the cost
                                                           allocation for the provision of the centralizing services to other segments as
                                                           well as income/costs that are not allocated to other segments reporting.

                 •    Entitas Anak - Syariah/          :   seluruh transaksi yang dilakukan oleh Entitas Anak yang bergerak di bidang
                      Subsidiaries - Sharia                perbankan syariah./
                                                           including all transactions conducted by a Subsidiary engaged in sharia
                                                           banking.

                 •    Entitas Anak - Asuransi/         :   seluruh transaksi yang dilakukan oleh Entitas Anak yang bergerak di bidang
                      Subsidiaries - Insurance             asuransi jiwa, asuransi kesehatan, dan asuransi kerugian./
                                                           including all transactions conducted by Subsidiaries engaged in life
                                                           insurance, health insurance, and general insurance.

                 •    Entitas Anak - selain Syariah    :   seluruh transaksi Entitas Anak yang bergerak di bidang pembiayaan
                        dan asuransi/                      konsumen, layanan remittance, sekuritas, perbankan, dan modal ventura./
                      Subsidiaries - other than sharia     including all transactions of Subsidiaries engaged in consumer finance,
                        and insurance                      remittance services, securities, and banking.




1418 PT Bank Mandiri (Persero) Tbk                                            351
Page 912
             CORPORATE                                           ESG COMMITMENTS                                                  SOCIAL AND ENVIRONMENTAL                                             LAPORAN
                                                                                                                                                                                                         Financial
             GOVERNANCE                                          & PRACTICES                                                      RESPONSIBILITY                                                       KEUANGAN   2023
                                                                                                                                                                                                         Statements 2023


                                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                           (Expressed in millions of Rupiah, unless otherwise stated)


57. INFORMASI SEGMEN (lanjutan)                                                                                             57. SEGMENT INFORMATION (continued)
                                                                                                              2023
                                                                                                                                                    Entitas Anak
                                                                                                                                                       - selain
                                                                                                                                                      asuransi Penyesuaian
                                                                                                                                           Entitas  dan Syariah/     dan
                                                                  Hubungan                          Treasury &             Entitas Anak     Anak -  Subsidiaries Eliminasi***)
                                                                Kelembagaan/                           Inter-    Kantor     - Syariah/    asuransi/ - other than Adjustment
                              Corporate         Commercial       Government          Retail          national    Pusat/    Subsidiary - Subsidiaries insurance       and
         Keterangan            Banking           Banking         Institutional      Banking          Banking   Head Office    sharia     -insurance and sharia Elimination***)c                          Total          Description

                                                                                                                                                                                                                      Consolidated
Laporan laba rugi                                                                                                                                                                                            statements of profit
 dan penghasilan                                                                                                                                                                                                or loss and other
 komprehensif lain                                                                                                                                                                                                comprehensive
 konsolidasian                                                                                                                                                                                                             income
Pendapatan bunga dan                                                                                                                                                                                                     Interest and
 syariah**)            45.062.477 22.918.692                         8.057.705      73.572.015       23.955.016           273.499         22.266.780        456.576      12.396.296 (76.414.586) 132.544.470        sharia income **)
Beban bunga dan                                                                                                                                                                                                          Interest and
 syariah**)          (30.279.973) (16.104.740)                     (4.928.572) (27.618.272) (21.432.754)                (265.903)         (5.993.167)               -    (4.466.631) 74.432.116 (36.657.896)     sharia expense **)

Pendapatan bunga dan                                                                                                                                                                                                      Net interest and
 syariah - neto                  14.782.504       6.813.952          3.129.133      45.953.743        2.522.262                 7.596     16.273.613        456.576       7.929.665     (1.982.470)    95.886.574         sharia income
Pendapatan                                                                                                                                                                                                                   Net premium
 premi - neto                               -               -                  -                -                -                  -                -    2.677.680                 -     (554.634)     2.123.046                income
Pendapatan bunga                                                                                                                                                                                                             Net interest,
 dan syariah                                                                                                                                                                                                                sharia and
 dan premi - neto                14.782.504       6.813.952          3.129.133      45.953.743        2.522.262                 7.596     16.273.613      3.134.256       7.929.665     (2.537.104)    98.009.620      premium income
Pendapatan                                                                                                                                                                                                                Other operating
 operasional lainnya:                                                                                                                                                                                                          income:
 Pendapatan provisi                                                                                                                                                                                                               Fees
   dan komisi                     2.802.116         828.477            485.844        7.397.841         282.570         3.909.218          2.766.757              -       2.333.237       (657.650)    20.148.410     and commission
 Lainnya                            396.415         145.282             45.618        5.933.469       2.754.747         7.315.708          2.014.757      1.282.189       2.184.912     (1.698.661)    20.374.436                Others
Total                             3.198.531         973.759            531.462      13.331.310        3.037.317        11.224.926          4.781.514      1.282.189       4.518.149     (2.356.311)    40.522.846                      Total
Pembalikan/                                                                                                                                                                                                                    Reversal of/
 (pembentukan)                                                                                                                                                                                                           (allowance for)
 cadangan                                                                                                                                                                                                                     impairment
 kerugian                                                                                                                                                                                                                       losses on
 penurunan nilai                                                                                                                                                                                                                  financial
 aset keuangan                                                                                                                                                                                                                assets and
 dan lainnya                      2.046.409       1.650.569            (12.738)     (9.013.714)         (26.561)          (33.011)        (3.220.873)               -    (1.538.788)               -   (10.148.707)                  others

Keuntungan dari                                                                                                                                                                                                            Gain on sale of
 penjualan                                                                                                                                                                                                                   marketable
 efek- efek                                                                                                                                                                                                               securities and
 dan obligasi                                                                                                                                                                                                               government
 pemerintah                                 -               -                  -                -                -         47.701              74.434        19.340         (16.180)               -      125.295            bonds - net
Beban operasional                                                                                                                                                                                                    Other operating
 lainnya:                                                                                                                                                                                                               expenses:
                                                                                                                                                                                                                      Salaries and
       Beban gaji dan                                                                                                                                                                                            employee benefit
        tunjangan                 (223.524)        (341.091)          (110.771)     (2.347.645)        (146.412)      (12.889.547)        (5.035.077)      (562.463)     (3.321.193)       554.634 (24.423.089)        expenses
                                                                                                                                                                                                                      General and
       Beban umum                                                                                                                                                                                                  administrative
         dan administrasi          (95.607)        (110.462)          (171.253)     (2.033.553)        (127.053) (11.965.900)             (4.748.386)      (900.857)     (2.579.823)             - (22.732.894)        expenses
       Lainnya                    (563.287)        (261.325)          (153.238)     (1.821.926)        (338.731)  (1.792.243)               (725.852)    (1.206.267)       (521.296)       672.657   (6.711.508)       Others - net

Total                             (882.418)        (712.878)          (435.262)     (6.203.124)        (612.196)      (26.647.690) (10.509.315)          (2.669.587)     (6.422.312)     1.227.291     (53.867.491)                    Total
Pendapatan/(beban)                                                                                                                                                                                                         Non-operating
 bukan                                                                                                                                                                                                                income/(expense)
 operasional - neto                         -               -                  -                -                -         98.094                 100               -       (54.876)               -        43.318                - net
Beban pajak                                 -               -                  -                -                -     (11.690.331) (1.695.729)            (256.165)       (990.786)               -   (14.633.011)          Tax expense
Laba bersih                      19.145.026       8.725.402          3.212.595      44.068.215        4.920.822       (26.992.715)         5.703.744      1.510.033       3.424.872     (3.666.124)    60.051.870              Net income

Laba bersih
 yang dapat                                                                                                                                                                                                                   Net income
 diatribusikan                                                                                                                                                                                                              attributable
 kepada:                                                                                                                                                                                                                              to:
Kepentingan                                                                                                                                                                                                                Non-controlling
 nonpengendali                              -               -                  -                -               -                   -                -              -               -              -    4.991.813                interest
Pemilik Entitas Induk                       -               -                  -                -               -                   -                -              -               -              -   55.060.057            Parent Entity
Laporan posisi                                                                                                                                                                                                             Consolidated
  keuangan                                                                                                                                                                                                                statement of
  konsolidasian                                                                                                                                                                                                    financial position****)
Kredit yang diberikan
  dan piutang/                                                                                                                                                                                                           Loans and sharia
  pembiayaan                                                                                                                                                                                                                receivables/
  syariah - bruto              409.857.020 237.952.186              72.741.580     358.074.141   7.162.500                      - 237.907.537                     -      42.066.502 (5.929.271) 1.359.832.195          financing - gross
Total aset                     424.358.483 229.139.153              73.595.383     240.050.664 307.078.639            414.628.061 353.624.125            43.938.924     114.843.074 (27.037.057) 2.174.219.449                Total assets
                                                                                                                                                                                                                        Demand deposits
Giro dan                                                                                                                                                                                                                    and wadiah
 giro wadiah                  (256.481.994) (91.227.532)          (63.703.665) (115.236.424)         (4.902.962)        (980.003) (20.847.525)                      -    (1.192.752)     2.213.701 (552.359.156)       demand deposits
Tabungan dan                                                                                                                                                                                                             Saving deposits
 tabungan                                                                                                                                                                                                                   and wadiah
 wadiah                        (16.495.482) (21.306.778)           (1.062.603) (414.655.290)           (190.222)                 -       (47.026.375)               -    (8.554.739)              - (509.291.489)       saving deposits
Deposito berjangka             (26.777.108) (37.227.044)          (33.127.841) (149.488.496)         (6.772.458)       (2.509.694)                  -               -   (35.470.457)     1.575.594 (289.797.504)           Time deposits
Total simpanan                                                                                                                                                                                                          Total deposit from
 nasabah                      (299.754.584) (149.761.354)         (97.894.109) (679.380.210) (11.865.642)   (3.489.697) (67.873.900)            -                       (45.217.948)     3.789.295 (1.351.448.149)            customers
Total liabilitas              (300.286.798) (150.621.915)         (99.279.109) (681.149.184) (55.329.532) (163.775.636) (88.202.768) (38.734.998)                       (95.226.939)    12.164.064 (1.660.442.815)          Total liabilities
*)      Sesuai dengan segmen-segmen operasi Bank Mandiri (catatan 2ak).                                                    *)           In accordance with operating segments of Bank Mandiri (Note 2ak).
**)     Termasuk komponen internal transfer pricing antar segmen operasi.                                                  **)          Include component of internal transfer pricing among operating segments.
***)    Termasuk eliminasi internal transfer pricing atau reklasifikasi antar segmen operasi dan eliminasi terhadap        ***)         Include elimination of internal transfer pricing or reclassification among operating segments and
        Entitas Anak.                                                                                                                   elimination for Subsidiaries.




                                                                                                                                   352                                                                   ANNUAL REPORT 2023                     1419
Page 913
                 MAIN                                               MANAGEMENT                                                     COMPANY                                                      MANAGEMENT DISCUSSION &
                 HIGHLIGHTS                                         REPORTS                                                        PROFILE                                                      ANALYSIS


                                                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                           (Expressed in millions of Rupiah, unless otherwise stated)


            57. INFORMASI SEGMEN (lanjutan)                                                                                             57. SEGMENT INFORMATION (continued)
                                                                                                                          2022
                                                                                                                                                                Entitas Anak
                                                                                                                                                                   - selain
                                                                                                                                                                  asuransi Penyesuaian
                                                                                                                                                       Entitas  dan Syariah/     dan
                                                                              Hubungan                          Treasury &             Entitas Anak     Anak -  Subsidiaries Eliminasi***)
                                                                            Kelembagaan/                           Inter-    Kantor     - Syariah/    asuransi/ - other than Adjustment
                                          Corporate         Commercial       Government          Retail          national    Pusat/    Subsidiary - Subsidiaries insurance       and
                     Keterangan            Banking           Banking         Institutional      Banking          Banking   Head Office    sharia     -insurance and sharia Elimination***)c                          Total          Description

                                                                                                                                                                                                                                    Consolidated
            Laporan laba rugi                                                                                                                                                                                              statements of profit
             dan penghasilan                                                                                                                                                                                                  or loss and other
             komprehensif lain                                                                                                                                                                                                  comprehensive
             konsolidasian                                                                                                                                                                                                               income
            Pendapatan bunga dan                                                                                                                                                                                                       Interest and
             syariah**)            29.999.243                16.292.295          4.453.246      58.823.019       20.898.828           298.082         19.687.046           363.593     10.208.820 (48.642.054) 112.382.118        sharia income **)
            Beban bunga dan                                                                                                                                                                                                            Interest and
             syariah**)          (16.304.561)                (8.854.226)       (2.650.349) (23.458.737) (17.446.151)                (212.674)         (4.032.169)                 -    (3.429.472) 51.909.575 (24.478.764)     sharia expense **)

            Pendapatan bunga dan                                                                                                                                                                                                      Net interest and
             syariah - neto                  13.694.682       7.438.069          1.802.897      35.364.282        3.452.677            85.408         15.654.877           363.593      6.779.348     3.267.521    87.903.354         sharia income
            Pendapatan                                                                                                                                                                                                                   Net premium
             premi - neto                               -               -                  -                -                -                  -                -       2.886.272               -    (418.574)     2.467.698                income
            Pendapatan bunga                                                                                                                                                                                                             Net interest,
             dan syariah                                                                                                                                                                                                                sharia and
             dan premi - neto                13.694.682       7.438.069          1.802.897      35.364.282        3.452.677            85.408         15.654.877         3.249.865      6.779.348     2.848.947    90.371.052      premium income
            Pendapatan                                                                                                                                                                                                                Other operating
             operasional lainnya:                                                                                                                                                                                                          income:
             Pendapatan provisi                                                                                                                                                                                                               Fees
               dan komisi                     2.404.288         764.847            360.542        6.901.623         520.797         3.145.773          2.507.051                 -      2.842.500      (645.273)   18.802.148     and commission
             Lainnya                            388.254         144.152             48.701        4.801.775       3.299.449         3.398.103          1.360.143         1.037.323      2.218.724    (1.218.069)   15.478.555                Others

            Total                             2.792.542         908.999            409.243      11.703.398        3.820.246         6.543.876          3.867.194         1.037.323      5.061.224    (1.863.342)   34.280.703                      Total
            Pembalikan/                                                                                                                                                                                                                    Reversal of/
             (pembentukan)                                                                                                                                                                                                           (allowance for)
             cadangan                                                                                                                                                                                                                     impairment
             kerugian                                                                                                                                                                                                                       losses on
             penurunan nilai                                                                                                                                                                                                                  financial
             aset keuangan                                                                                                                                                                                                                assets and
             dan lainnya                    (1.078.508)      (1.984.881)           (15.925)     (7.436.292)            3.909          (22.840)        (4.119.048)                 -    (1.469.602)             -   (16.123.187)                  others
            Keuntungan dari                                                                                                                                                                                                            Gain on sale of
             penjualan                                                                                                                                                                                                                   marketable
             efek- efek                                                                                                                                                                                                               securities and
             dan obligasi                                                                                                                                                                                                               government
             pemerintah                                  -              -                  -                -                -        696.462            114.642            27.242         61.233              -      899.579            bonds - net
            Beban operasional                                                                                                                                                                                                    Other operating
             lainnya:                                                                                                                                                                                                               expenses:
                                                                                                                                                                                                                                  Salaries and
                   Beban gaji dan                                                                                                                                                                                            employee benefit
                    tunjangan                 (176.725)        (303.368)           (96.897)     (2.345.298)        (137.792)      (12.987.631)        (4.948.878)        (506.384)     (3.557.347)      418.574 (24.641.746)       expenses
                                                                                                                                                                                                                                  General and
                   Beban umum                                                                                                                                                                                                  administrative
                     dan administrasi          (89.590)         (89.296)          (168.560)     (1.445.613)        (110.430) (12.127.172)             (4.437.736)         (913.666)    (2.720.489)            - (22.102.552)       expenses
                   Lainnya                    (435.343)        (218.615)          (151.904)     (1.517.449)        (389.435)  (1.989.311)               (724.848)       (1.300.987)      (448.541)      660.673 (6.515.760)        Others - net

            Total                             (701.658)        (611.279)          (417.361)     (5.308.360)        (637.657)      (27.104.114) (10.111.462)             (2.721.037)    (6.726.377)    1.079.247 (53.260.058)                       Total
            Pendapatan/(beban)                                                                                                                                                                                                         Non-operating
             bukan                                                                                                                                                                                                                income/(expense)
             operasional - neto                         -               -                  -                -                -        113.094              98.449                 -        (1.906)             -      209.637                 - net
            Beban pajak                                 -               -                  -                -                -     (9.086.007)        (1.254.621)        (278.369)      (806.361)              - (11.425.358)            Tax expense
            Laba bersih                      14.707.058       5.750.908          1.778.854      34.323.028        6.639.175       (28.774.121)         4.250.031         1.315.024      2.897.559     2.064.852    44.952.368              Net income

            Laba bersih
             yang dapat                                                                                                                                                                                                                   Net income
             diatribusikan                                                                                                                                                                                                              attributable
             kepada:                                                                                                                                                                                                                              to:
            Kepentingan                                                                                                                                                                                                                Non-controlling
             nonpengendali                              -               -                  -                -               -                   -                   -             -              -             - 3.781.731                   interest
            Pemilik Entitas Induk                       -               -                  -                -               -                   -                   -             -              -             - 41.170.637              Parent Entity
            Laporan posisi                                                                                                                                                                                                              Consolidated
              keuangan                                                                                                                                                                                                                 statement of
              konsolidasian****)                                                                                                                                                                                                financial position****)
            Kredit yang diberikan
              dan piutang/                                                                                                                                                                                                            Loans and sharia
              pembiayaan                                                                                                                                                                                                                 receivables/
              syariah – bruto              364.163.362 196.304.490              44.119.013     322.250.318   5.801.787                     81 206.207.005                        -     37.392.602 (3.638.776) 1.172.599.882         financing - gross
            Total aset                     382.797.323 179.089.341              44.971.040     313.385.081 318.811.657            331.277.620 305.727.438               42.870.806     98.955.587 (25.341.206) 1.992.544.687               Total assets
                                                                                                                                                                                                                                    Demand deposits
            Giro dan                                                                                                                                                                                                                    and wadiah
             giro wadiah                  (260.843.103) (82.519.567)          (43.765.257) (101.871.549)         (5.045.475)       (3.946.286) (21.797.853)                       -    (1.164.001)    1.875.129 (519.077.962)      demand deposits
            Tabungan dan                                                                                                                                                                                                             Saving deposits
             tabungan                                                                                                                                                                                                                   and wadiah
             wadiah                        (12.153.395) (15.592.192)             (850.155) (157.981.554)           (198.973) (241.590.679) (44.214.405)                           -    (7.901.413)            - (480.482.766)       saving deposits
            Deposito berjangka             (40.636.468) (36.819.680)          (20.359.234) (42.673.131)          (4.760.793) (121.556.835)            -                           -   (31.871.718)    2.662.658 (296.015.201)          Time deposits
            Total simpanan                                                                                                                                                                                                          Total deposit from
             nasabah                      (313.632.966) (134.931.439)         (64.974.646) (302.526.234) (10.005.241) (367.093.800) (66.012.258)            -                         (40.937.132)    4.537.787 (1.295.575.929)           customers
            Total liabilitas              (321.701.933) (138.032.614)         (66.083.263) (668.925.401) (38.306.214) (126.040.049) (75.813.992) (38.197.072)                         (81.660.894)   10.664.801 (1.544.096.631)         Total liabilities
            *)      Sesuai dengan segmen-segmen operasi Bank Mandiri (catatan 2ak).                                                    *)           In accordance with operating segments of Bank Mandiri (Note 2ak).
            **)     Termasuk komponen internal transfer pricing antar segmen operasi.                                                  **)          Include component of internal transfer pricing among operating segments.
            ***)    Termasuk eliminasi internal transfer pricing atau reklasifikasi antar segmen operasi dan eliminasi terhadap        ***)         Include elimination of internal transfer pricing or reclassification among operating segments and
                    Entitas Anak.                                                                                                                   elimination for Subsidiaries.
            ****)   Untuk tahun yang berakhir pada tanggal 31 Desember 2022.                                                           ****)        For the year ended 31 December 2022




1420 PT Bank Mandiri (Persero) Tbk                                                                                                             353
Page 914
     CORPORATE                           ESG COMMITMENTS                       SOCIAL AND ENVIRONMENTAL                        LAPORAN
                                                                                                                                 Financial
     GOVERNANCE                          & PRACTICES                           RESPONSIBILITY                                  KEUANGAN   2023
                                                                                                                                 Statements 2023


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in millions of Rupiah, unless otherwise stated)


57. INFORMASI SEGMEN (lanjutan)                                               57. SEGMENT INFORMATION (continued)
    Segmen geografis                                                                 Geographical segment
    Operasional utama Grup dikelola di wilayah                                       The Group’s main operations is managed in Indonesia,
    Indonesia, Asia (Singapura, Hong Kong, Timor Leste,                              Asia (Singapore, Hong Kong, Timor Leste, Shanghai,
    Shanghai, Malaysia), Eropa Barat (Inggris), dan                                  Malaysia), West Europe (England), and Cayman
    Cayman Islands. Informasi yang berkaitan dengan                                  Islands. Information concerning the geographical
    segmen berdasarkan geografis dari Grup disajikan                                 segments of the Group is set out in the table below:
    dalam tabel di bawah ini:
    Informasi segmen geografis untuk tahun                        yang               Information on geographical segment for the year
    berakhir pada tanggal 31 Desember 2023:                                          ended 31 December 2023:
                                                                             2023

                                                                         Eropa Barat/       Cayman          Konsolidasian/
                                         Indonesia       Asia            West Europe        Islands          Consolidated

     Laporan laba rugi dan                                                                                                      Consolidated statements of
       Penghasilan komprehensif                                                                                                  profit or loss and other
       lain konsolidasian                                                                                                        comprehensive income
     Pendapatan bunga dan syariah        126.198.202        4.408.807           167.059        1.770.402        132.544.470       Interest and sharia income
     Beban bunga dan syariah             (33.676.303)     (2.184.649)         (103.294)        (693.650)        (36.657.896)      Interest and sharia expense

     Pendapatan bunga dan
      syariah - neto                       92.521.899      2.224.158             63.765        1.076.752         95.886.574    Net interest and sharia income
     Pendapatan premi - neto                2.123.046              -                  -                -          2.123.046              Net premium income
     Pendapatan bunga dan syariah                                                                                                     Net interest, sharia and
      dan premi - neto                     94.644.945      2.224.158             63.765        1.076.752         98.009.620              premium income
     Pendapatan operasional lainnya:                                                                                                 Other operating income:
      Pendapatan provisi dan komisi        19.690.608        421.664                  -           36.138         20.148.410         Fees and commisions
      Lainnya                              20.043.935        229.068             11.736           89.697         20.374.436                         Others
     Total                                 39.734.543        650.732             11.736          125.835         40.522.846                                Total
     (Pembentukan)/pembalikan                                                                                                      (Allowance for)/reversal of
       cadangan kerugian                                                                                                            impairment losses on
       penurunan nilai aset                                                                                                           financial assets and
       keuangan dan lainnya                (9.868.305)     (269.532)             (6.513)          (4.357)       (10.148.707)                        others
     Keuntungan dari penjualan                                                                                                    Gain on sale of marketable
       efek-efek dan obligasi                                                                                                              securities and
      pemerintah                              125.295               -                   -               -           125.295       government bonds - net
     Beban operasional lainnya:                                                                                                   Other operating expenses:
                                                                                                                               Salaries and employee benefit
       Beban gaji dan tunjangan          (24.154.647)      (216.132)           (36.322)          (15.988)       (24.423.089)                    expenses
       Beban umum, administrasi                                                                                                       General, administrative
          dan lainnya                    (29.244.031)      (163.475)           (17.827)          (19.069)       (29.444.402)         expenses and others
     Total                               (53.398.678)      (379.607)           (54.149)          (35.057)       (53.867.491)                               Total
     Pendapatan/(beban) bukan                                                                                                          Non operating income/
       operasional - neto                     950.259      (427.329)                   -       (479.612)              43.318              (expense) - net
     Beban pajak                         (14.371.652)      (258.604)             (2.755)               -        (14.633.011)                   Tax expense
     Laba bersih                           57.816.407      1.539.818             12.084          683.561         60.051.870                        Net income

     Laba bersih yang dapat
       diatribusikan kepada:                                                                                                    Net income attributable to:
     Kepentingan nonpengendali                       -              -                   -               -         4.991.813          Non-controlling interest
     Pemilik Entitas Induk                           -              -                   -               -        55.060.057                   Parent Entity
     Laporan posisi keuangan                                                                                                     Consolidated statement of
       konsolidasian                                                                                                                  financial position
     Kredit yang diberikan dan                                                                                                             Loans and sharia
       piutang/pembiayaan                                                                                                                    receivables/
       syariah- bruto                   1.273.106.236     57.617.329            715.716       28.392.914      1.359.832.195             financing - gross
     Total aset                         2.044.454.812     88.426.438          4.047.572       37.290.627      2.174.219.449                     Total assets
                                                                                                                               Demand deposits and wadiah
     Giro dan giro wadiah               (544.200.253)     (7.917.572)         (241.331)                 -      (552.359.156)           demand deposits
     Tabungan dan tabungan                                                                                                      Saving deposits and wadiah
       wadiah                           (506.286.183)     (3.005.306)                   -               -      (509.291.489)            saving deposits
     Deposito berjangka                 (286.387.272)     (3.410.232)                   -               -      (289.797.504)                 Time deposits

     Total simpanan nasabah            (1.336.873.708)   (14.333.110)          (241.331)                -    (1.351.448.149)    Total deposit from customers
     Total liabilitas                  (1.570.259.063)   (71.526.098)        (3.240.265)     (15.417.389)    (1.660.442.815)                    Total liabilities




                                                                                 354                                            ANNUAL REPORT 2023                  1421
Page 915
            MAIN                                      MANAGEMENT                                      COMPANY                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                REPORTS                                         PROFILE                                 ANALYSIS


                                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                        (Expressed in millions of Rupiah, unless otherwise stated)


            57. INFORMASI SEGMEN (lanjutan)                                                               57. SEGMENT INFORMATION (continued)
                Segmen geografis (lanjutan)                                                                       Geographical segment (continued)
                Informasi segmen geografis untuk tahun                                        yang                Information on geographical segment for the year
                berakhir pada tanggal 31 Desember 2022:                                                           ended 31 December 2022:
                                                                                                         2022

                                                                                                     Eropa Barat/        Cayman          Konsolidasian/
                                                            Indonesia               Asia             West Europe         Islands          Consolidated

                 Laporan laba rugi dan                                                                                                                             Consolidated statements of
                   Penghasilan komprehensif                                                                                                                         profit or loss and other
                   lain konsolidasian                                                                                                                               comprehensive income
                 Pendapatan bunga dan syariah                109.132.266             2.261.743               92.028           896.081        112.382.118             Interest and sharia income
                 Beban bunga dan syariah                     (23.581.286)             (674.160)             (37.706 )        (185.612)       (24.478.764)            Interest and sharia expense

                 Pendapatan bunga dan
                  syariah - neto                              85.550.980             1.587.583               54.322           710.469         87.903.354         Net interest and sharia income
                 Pendapatan premi - neto                       2.467.698                     -                    -                 -          2.467.698                   Net premium income
                 Pendapatan bunga dan syariah                                                                                                                           Net interest, sharia and
                  dan premi - neto                            88.018.678             1.587.583               54.322           710.469         90.371.052                   premium income
                 Pendapatan operasional lainnya:                                                                                                                       Other operating income:
                  Pendapatan provisi dan komisi               18.405.858               383.725                      -          12.565         18.802.148              Fees and commisions
                  Lainnya                                     15.303.005               129.916                  9.956          35.678         15.478.555                              Others
                 Total                                        33.708.863               513.641                  9.956          48.243         34.280.703                                     Total
                 Pembentukan                                                                                                                                                        Allowance for
                  cadangan kerugian                                                                                                                                    impairment losses on
                  penurunan nilai aset                                                                                                                                   financial assets and
                  keuangan dan lainnya                       (15.847.746)             (260.140)              (1.716 )         (13.585)       (16.123.187)                               others
                 Keuntungan dari penjualan                                                                                                                          Gain on sale of marketable
                   efek-efek dan obligasi                                                                                                                                    securities and
                  pemerintah                                      832.153                  64.180                   -           3.246            899.579            government bonds - net
                 Beban operasional lainnya:                                                                                                                         Other operating expenses:
                                                                                                                                                                 Salaries and employee benefit
                      Beban gaji dan tunjangan               (24.397.802)             (203.764)             (28.298 )         (11.882)       (24.641.746)                         expenses
                      Beban umum, administrasi                                                                                                                          General, administrative
                         dan lainnya                          (28.412.582)            (159.507)             (22.833 )         (23.390)       (28.618.312)              expenses and others
                 Total                                        (52.810.384)            (363.271)             (51.131 )         (35.272)       (53.260.058)                                    Total
                 Pendapatan/(beban) bukan                                                                                                                                Non operating income/
                   operasional - neto                            530.320              (162.519)                   -          (158.164)           209.637                    (expense) - net
                 Beban pajak                                 (11.182.908)             (240.817)              (1.633 )               -        (11.425.358)                        Tax expense
                 Laba bersih                                  43.248.976             1.138.657                  9.798         554.937         44.952.368                             Net income

                 Laba bersih yang dapat
                   diatribusikan kepada:                                                                                                                           Net income attributable to:
                 Kepentingan nonpengendali                               -                      -                   -                -         3.781.731                Non-controlling interest
                 Pemilik Entitas Induk                                   -                      -                   -                -        41.170.637                         Parent Entity
                 Laporan posisi keuangan                                                                                                                           Consolidated statement of
                   konsolidasian*)                                                                                                                                     financial position*)
                 Kredit yang diberikan dan                                                                                                                                   Loans and sharia
                   piutang/pembiayaan                                                                                                                                          receivables/
                   syariah- bruto                          1.101.016.066            50.305.418              481.634        20.796.764      1.172.599.882                  financing - gross
                 Total aset                                1.883.672.684            74.896.834            3.765.899        30.209.270      1.992.544.687                          Total assets
                                                                                                                                                                  Demand deposits and wadiah
                 Giro dan giro wadiah                       (511.480.446)            (7.324.681)           (272.835 )                -      (519.077.962)                 demand deposits
                 Tabungan dan tabungan                                                                                                                             Saving deposits and wadiah
                   wadiah                                   (477.616.764)            (2.866.002)                    -                -      (480.482.766)                  saving deposits
                 Deposito berjangka                         (293.304.321)            (2.710.880)                    -                -      (296.015.201)                       Time deposits

                 Total simpanan nasabah                   (1.282.401.531)           (12.901.563)           (272.835 )                -    (1.295.575.929)         Total deposit from customers
                 Total liabilitas                         (1.482.146.120)           (50.463.373)         (2.993.330 )      (8.493.808)    (1.544.096.631)                         Total liabilities


                 *)
                         Untuk tahun yang berakhir pada tanggal 31 Desember 2022.                                                                  *)
                                                                                                                                                            For the year ended 31 December 2022




1422 PT Bank Mandiri (Persero) Tbk                                                                           355
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       CORPORATE                             ESG COMMITMENTS                               SOCIAL AND ENVIRONMENTAL                                LAPORAN
                                                                                                                                                     Financial
       GOVERNANCE                            & PRACTICES                                   RESPONSIBILITY                                          KEUANGAN   2023
                                                                                                                                                     Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)

58. RASIO  KECUKUPAN                              MODAL             (CAPITAL              58. CAPITAL ADEQUACY RATIO
    ADEQUACY RATIO)
      Pengelolaan risiko melalui modal                                                          Capital risk management
      Kebijakan permodalan Bank Mandiri adalah secara                                           Bank Mandiri's capital policy is prudently complied with
      prudent memenuhi regulatory capital requirement,                                          the regulatory capital requirement, diversifying its capital
      melakukan diversifikasi sumber permodalan untuk                                           resources to anticipate long-term strategic plans and
      mengantisipasi rencana strategis jangka panjang dan                                       efficiently allocate capital to business segments that
      mengalokasikan modal secara efisien pada segmen                                           have the potential to provide an optimal risk-return
      bisnis yang memiliki potensi untuk memberikan profil                                      profile, including placement and investment in
      risk-return yang optimal, termasuk penempatan dan                                         Subsidiaries in order to meet stakeholder’s expectations
      penyertaan pada Entitas Anak dalam rangka                                                 including investors and regulators.
      memenuhi ekspektasi stakeholder termasuk investor
      dan regulator.
      Bank Mandiri memastikan memiliki kecukupan modal                                          Bank Mandiri ensures it has sufficient capital to meet
      untuk dapat memenuhi risiko kredit, risiko pasar dan                                      credit risk, market risk and operational risk, both in
      risiko  operasional,    baik    dalam     mendukung                                       supporting business growth in normal conditions and
      pertumbuhan bisnis pada kondisi normal maupun                                             anticipating stress conditions.
      untuk mengantisipasi terjadinya kondisi stress.
      Dalam perhitungan kecukupan modal, Bank mengacu                                           In calculating capital adequacy, the Bank refers to POJK
      pada POJK No.11/POJK.03/2016 tentang Kewajiban                                            No. 11/POJK.03/2016 regarding Minimum Capital
      Penyediaan Modal Minimum Bank Umum yang                                                   Adequacy Requirement for Commercial Banks, as
      diubah oleh POJK No.34/POJK.03/2016 dan POJK                                              amended by POJK No. 34/POJK.03/2016 and POJK No.
      No.27/POJK.03/2022.                                                                       27/POJK.03/2022.

      Untuk perhitungan Aset Tertimbang Menurut Risiko                                          For or the calculation of Risk-Weighted Assets (RWA),
      (ATMR), Bank menggunakan Pendekatan Standar                                               the Bank employs Standardized Approach, which in
      yang mengacu kepada Basel III Reforms                                                     accordance with Basel III Reforms (Standardized
      (Standardized Approach) untuk Risiko Kredit yang                                          Approach) for Credit Risk, which effective since January
      efektif mulai Januari 2023. Untuk Risiko Pasar, Bank                                      2023. For Market Risk, the Bank employs Basel II
      menggunakan Metode Pengukuran Standar Basel II                                            Standardized Measurement Method and employs Value
      (Standardized Measurement Method) dan secara                                              at Risk internally. For Operational Risk, the Bank
      internal menggunakan Value at Risk. Untuk Risiko                                          employs Standardized Approach which in accordance
      Operasional, Bank mengacu kepada Pendekatan                                               with Basel III Reforms, which effective since January
      Standar sesuai Basel III Reforms yang berlaku efektif                                     2023.
      mulai Januari 2023.
      Hasil perhitungan ATMR (Kredit, Operasional, dan                                          The calculation result of Risk Weighted Assets (Credit,
      Pasar) serta Rasio Kecukupan Modal pada tanggal                                           Operational and Market) and Capital Adequacy Ratio
      31 Desember 2023 dan 2022 (Bank Mandiri saja)                                             (CAR) as of 31 December 2023 and 2022 (Bank
      adalah sebagai berikut:                                                                   Mandiri only) are as follows:
                                                                            2023                          2022

        Modal:                                                                                                                                              Capital:
          Modal inti                                                       209.724.274                  181.072.852                                  Core capital
          Modal pelengkap                                                   12.264.005                   10.771.601                          Supplementary capital
        Jumlah modal untuk risiko kredit,                                                                                                  Total capital for credit risk,
           risiko operasional, dan                                                                                                             operational risk, and
           risiko pasar                                                    221.988.279                  191.844.453                                       market risk

        Aset Tertimbang Menurut Risiko
           (ATMR) kredit1                                                  964.706.719                  846.394.763               Risk-Weighted Assets for credit1
        Aset Tertimbang Menurut Risiko                                                                                                  Risk-Weighted Assets for
           (ATMR) operasional2                                               58.720.278                 133.826.964                               operational2
        Aset Tertimbang Menurut Risiko                                                                                                  Risk-Weighted Assets for
           (ATMR) pasar3                                                      9.980.215                     5.829.558                                  market3
        Jumlah ATMR untuk risiko kredit,                                                                            Total Risk-Weighted Assets for credit,
           risiko operasional, dan                                                                                                operational risk, and
           risiko pasar                                                 1.033.407.212                   986.051.285                        market risk


1 Mengacu pada SEOJK No. 24/SEOJK.03/2021 tentang Pedoman Perhitungan ATMR untuk Risiko Kredit dengan Menggunakan Pendekatan Standar, SEOJK No. 48/SEOJK.03/2017
  tentang Pedoman Perhitungan Tagihan Bersih Transaksi Derivatif dalam Perhitungan Aset Tertimbang Menurut Risiko untuk Risiko Kredit Dengan Menggunakan Pendekatan Standar dan
  POJK No. 11/POJK.03/2019 tentang Prinsip Kehati-hatian dalam Aktivitas Sekuritisasi Aset Bagi Bank Umum./Referring to SEOJK No. 24/SEOJK.03/2021 regarding Guidelines for
  Calculation of Risk Weighted Assets (“RWA”) for Credit Risk Using the Standardized Approach, SEOJK No. 48/SEOJK.03/2017 regarding Guidelines for Calculation of Net Receivables
  of Derivative Transactions in Risk-Weighted Asset Calculations for Credit Risk Using the Standardized Approach and POJK No. 11/POJK.03/2019 regarding Prudential Principles in
  Assets Securitization Activities for Commercial Banks.
2 Mengacu pada SEOJK No. 6/SEOJK.03/2020 tentang Perhitungan ATMR untuk Risiko Operasional dengan Menggunakan Pendekatan Standar Bagi Bank Umum./Referring to SEOJK No.
  6/SEOJK.03/2020 regarding Calculation of Risk-Weighted Assets for Operational Risk Using the Standardized Approach for Commercial Banks .
3 Mengacu pada SEOJK No. 38/SEOJK.03/2016 tentang Pedoman Penggunaan Metode Standar dalam Perhitungan Kewajiban Penyediaan Modal Minimum Bank Umum dengan
  Memperhitungkan Risiko Pasar./Referring to SEOJK No. 38/SEOJK.03/2016 regarding Guidelines for the Use of Standardized Method in Calculation of Minimum Capital Adequacy
  Requirement for Commercial Banks by Taking Market Risk Into Account.

                                                                                             356                                                     ANNUAL REPORT 2023             1423
Page 917
             MAIN                                  MANAGEMENT                                    COMPANY                                      MANAGEMENT DISCUSSION &
             HIGHLIGHTS                            REPORTS                                       PROFILE                                      ANALYSIS


                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


            58. RASIO  KECUKUPAN         MODAL                                  (CAPITAL             58. CAPITAL ADEQUACY RATIO (continued)
                ADEQUACY RATIO) (lanjutan)

                  Pengelolaan risiko melalui modal (lanjutan)                                              Capital risk management (continued)

                                                                                       2023                          2022

                  CAR untuk modal inti                                                       20,29%                       18,36%                 CAR for core capital
                  CAR untuk risiko kredit,                                                                                                        CAR for credit risk,
                     operasional dan pasar                                                   21,48%                       19,46%   operational risk and market risk
                  CAR minimum modal inti4                                                     6,00%                        6,00%        Minimum CAR core capital4
                  CAR minimum sesuai profil risiko5                                           9,76%                        9,86% Minimum CAR based on risk profile5

                  Rasio kecukupan modal Bank secara konsolidasian                                          The Bank’s capital adequacy ratio on a consolidated
                  pada tanggal 31 Desember 2023 dan 2022 dengan                                            basis as of 31 December 2023 and 2022 including
                  memperhitungkan risiko kredit, operasional dan pasar                                     credit risk, operational risk and market risk are 21.99%
                  masing-masing adalah 21,99% dan 19,65%.                                                  and 19.65%, respectively.


            59. RASIO ASET PRODUKTIF BERMASALAH, RASIO                                               59. NON-PERFORMING EARNING ASSETS RATIO,
                PEMENUHAN       CADANGAN       KERUGIAN                                                  ALLOWANCE FOR IMPAIRMENT LOSSES ON
                PENURUNAN NILAI ASET PRODUKTIF DAN                                                       EARNING ASSETS FULFILLMENT RATIO, MICRO
                RASIO KREDIT USAHA MIKRO DAN KECIL                                                       AND SMALL BUSINESS LOANS RATIO AND LEGAL
                                                                                                         LENDING LIMIT

                  Rasio aset produktif bermasalah terhadap jumlah aset                                     Non-performing earning assets to total earning assets
                  produktif (termasuk Rekening Administratif) pada                                         ratio (including Administrative Accounts) as of
                  tanggal 31 Desember 2023 dan 2022 (Bank Mandiri                                          31 December 2023 and 2022 (Bank Mandiri only) are
                  saja) adalah masing-masing sebesar 0,68% dan                                             0.68% and 1.09%, respectively. For Non-Performing
                  1,09%. Untuk rasio kredit bermasalah lihat Catatan                                       Loan (NPL) ratio refer to Note 12.A.d.
                  12.A.d.

                  Rasio jumlah cadangan kerugian penurunan nilai aset                                      The ratio of total allowance for impairment losses on
                  produktif dibentuk oleh Bank Mandiri pada tanggal                                        earning assets provided by Bank Mandiri as of
                  31 Desember 2023 dan 2022 terhadap jumlah                                                31 December 2023 and 2022 compared to the
                  minimum cadangan kerugian penurunan nilai aset                                           minimum allowance for impairment losses on earning
                  produktif sesuai dengan ketentuan Bank Indonesia                                         assets under the guidelines prescribed by Bank
                  pada tanggal 31 Desember 2023 dan 2022 masing-                                           Indonesia as of 31 December 2023 and 2022 are
                  masing sebesar 183,26% dan 194,70%.                                                      183.26% and 194.70%, respectively.

                  Rasio aset produktif bermasalah terhadap jumlah aset                                     The ratio of non-performing earning assets to total
                  produktif (termasuk Rekening Administratif) dan rasio                                    earning assets (including Administrative Accounts) and
                  jumlah cadangan kerugian penurunan nilai aset                                            the ratio of total allowance for impairment losses on
                  produktif     dihitung  sesuai    dengan      SEOJK                                      earning assets is calculated in accordance with SEOJK
                  No. 9/SEOJK.03/2020 tanggal 30 Juni 2020 tentang                                         No. 9/SEOJK.03/2020 dated 30 June 2020 concerning
                  Transparansi dan Publikasi Laporan Bank Umum                                             Transparency and Publication of Conventional
                  Konvensional.                                                                            Commercial Bank Reports.

                  Rasio kredit usaha mikro dan kecil terhadap jumlah                                       The ratio of small-scale and micro business loans to
                  kredit yang diberikan Bank Mandiri pada tanggal                                          total loans provided by Bank Mandiri for the year ended
                  31 Desember 2023 dan 2022 masing-masing sebesar                                          as of 31 December 2023 and 2022 are 8.90% and
                  8,90% dan 9,52%.                                                                         9.52%, respectively.




            4 Berdasarkan POJK No. 27/POJK.03/2022 tentang Perubahan kedua atas POJK Nomor 11/POJK.03/2016 tentang Kewajiban Penyediaan Modal Minimum Bank Umum, Bank wajib

              menyediakan modal inti paling rendah sebesar 6% (enam persen) dari ATMR baik secara individu maupun konsolidasi dengan perusahaan anak./Based on POJK No.
              27/POJK.03/2022 concerning the second amendment to POJK Number 11/POJK.03/2016 concerning Minimum Capital Requirements for Commercial Banks, Banks are required to
              provide core capital of at least 6% (six percent) of RWA both individually and consolidated with subsidiary company.
                                                                                                                                                                                          
            5 CAR minimum untuk risiko-risiko utama Pillar 1 dan risiko-risiko tambahan Pillar 2 (capital add-on) berdasarkan metode Internal Capital Adequacy Assessment Process (ICAAP)./

              Minimum CAR for Pillar 1 main risks and Pillar 2 additional risks (capital add-on) based on the Internal Capital Adequacy Assessment Process (ICAAP) method.

1424 PT Bank Mandiri (Persero) Tbk                                                                      357
Page 918
     CORPORATE                  ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                        Financial
     GOVERNANCE                 & PRACTICES                    RESPONSIBILITY                         KEUANGAN   2023
                                                                                                        Statements 2023


                                         PT BANK MANDIRI (PERSERO) Tbk.
                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


60. KEGIATAN       JASA     KUSTODIAN        DAN      WALI     60. CUSTODIAN SERVICES AND TRUST OPERATIONS
    AMANAT
    Kegiatan Jasa Kustodian                                       Custodian services
    Bank Mandiri telah memberikan Jasa Kustodian sejak            Bank Mandiri started providing Custodian Services
    tahun 1995. Surat izin operasi telah diperbaharui oleh        since 1995. The operating license for Custodian
    Bapepam dan LK berdasarkan Surat Keputusan                    Services was renewed by Capital Market and Financial
    No. KEP.01/PM/Kstd/1999 tertanggal 4 Oktober 1999.            Institutions Supervisory Board based on Decree
    Kustodian Bank Mandiri merupakan bagian dari unit             No. KEP.01/PM/Kstd/1999 dated 4 October 1999. Bank
    kerja Financial Institutions Business Group dimana            Mandiri’s Custodian, which is the part of Financial
    jasa-jasa yang ditawarkan adalah sebagai berikut:             Institutions Business Group, provides a full range of
                                                                  Custodian Services as follows:
    a. Penyelesaian transaksi (settlement) jual dan beli          a. Settlement and handling services for script and
       efek dengan maupun tanpa warkat (scripless).                     scripless trading transactions;
    b. Penyimpanan (safekeeping) dan administrasi                 b. Safekeeping and administration of marketable
       (administration) atas efek-efek maupun dokumen                   securities and other valuable assets;
       berharga lainnya.
    c. Pengurusan hak-hak nasabah atas kepemilikan                c.   Corporate action services which starting from
       efek-efek yang disimpan sampai dengan hak                       administrating the safekeeping of customer’s
       tersebut efektif di rekening nasabah (corporate                 ownership right on marketable securities until that
       action).                                                        right become effective in the customer’s account;
    d. Perwalian (proxy) pada Rapat Umum Pemegang                 d.   Proxy services for its customers’ in General
       Saham dan Rapat Umum Pemegang Obligasi.                         Meeting of Shareholders and General Meeting of
                                                                       Bondholders;
    e. Penyampaian laporan (reporting) dan informasi              e.   Reporting and information submission related to
       (information) yang terkait dengan efek-efek                     the customers’ marketable securities and/or other
       dan/atau dokumen berharga milik nasabah yang                    valuable assets which are kept and administered
       disimpan dan diadministrasikan oleh kustodian                   by Bank Mandiri’s custodian.
       Bank Mandiri.
    Untuk memenuhi kebutuhan investor dalam                       In order to fulfill the investors’ needs in investing on
    melakukan investasi pada berbagai instrumen efek-             various marketable securities instruments, Bank
    efek, Kustodian Bank Mandiri memfasilitasinya                 Mandiri’s Custodian facilitate it through provisions of
    dengan menyediakan beragam layanan:                           various services as follow:
    a. Kustodian umum untuk melayani investor yang                a. General custodian which provide services for
        melakukan investasi pada instrumen pasar modal                 investors who are investing in capital market or
        maupun pasar uang di Indonesia.                                money market in Indonesia.
    b. Kustodian lokal untuk American Depository                  b. Local custodian for American Depository Receipts
        Receipts (ADR) dan Global Depository Receipts                  (ADR) and Global Depository Receipts (GDR)
        (GDR) yang dibutuhkan oleh investor yang akan                  which is needed by the investors to convert the
        melakukan konversi dari saham perusahaan yang                  companies’ shares which are listed in local and
        terdaftar di bursa lokal dan luar negeri (dual/multi           overseas stock exchange (dual/multi listing).
        listing).
    c. Sub-Registry untuk melayani investor yang                  c.   Sub-Registry which provide services for investors
        melakukan transaksi dan investasi pada Surat                   that conduct transaction and investment in
        Utang Negara (SUN, baik Obligasi Negara                        Government Bonds (either in form of Bonds or
        maupun Surat Perbendaharaan Negara) serta                      Treasury Bills) and Bank Indonesia Certificates
        Sertifikat Bank Indonesia (SBI).                               (Sertifikat Bank Indonesia (SBI)).
    d. Kustodian mutual fund (reksadana) dan                      d.   Custodian for mutual funds and discretionary fund
        discretionary fund (kontrak pengelolaan dana)                  issued and managed by investment manager;
        yang diterbitkan dan dikelola oleh manajer
        investasi.
    e. Kustodian Euroclear bagi nasabah yang akan                 e.   Custodian of Euroclear for customer who is
        melakukan investasi dan penyelesaian transaksi                 conducting investment and settlement of securities
        efek-efek yang tercatat di Euroclear Operations                transactions registered at the Euroclear Operations
        Centre, Brussels. Kustodian Bank Mandiri                       Centre, Brussels, Bank Mandiri’s Custodian is a
        merupakan direct member dari Euroclear.                        direct member of Euroclear.
    f. Kustodian Pinjam Meminjam Efek (securities                 f.   Securities lending and borrowing as services for
        lending and borrowing) bagi nasabah yang ingin                 customers who want to maximise their investment
        memaksimalkan hasil investasinya dengan                        return by lending their securities to securities
        meminjamkan efek-efeknya (saham) kepada                        companies through intermediary and guarantee of
        perusahaan sekuritas melalui perantara dan                     PT Kliring Penjaminan Efek Indonesia (PT KPEI).
        penjaminan PT Kliring Penjaminan Efek
        Indonesia (PT KPEI).
    g. Kustodian Exchange Traded Fund (ETF) yang                  g.   Custodian for Exchange Traded Fund (ETF) which
        diterbitkan dan dikelola oleh manajer investasi                issued and managed by an investment manager
        dimana unit penyertaannya diperdagangkan di                    where the unit of participation will be traded on
        bursa.                                                         stock exchange.
    h. Jasa Kustodian Efek Beragun Aset (EBA)                     h.   Custodian for Asset Backed Securities (Efek
        berbentuk Kontrak Investasi Kolektif (KIK) yang                Beragun Aset (EBA)) in the form of Collective
        diterbitkan oleh manajer investasi dan bank                    Investment Contract (Kontrak Investasi Kolektif
        kustodian dalam rangka transaksi sekuritisasi                  (KIK)) which was issued by the investment
        aset yang dimiliki perbankan atau lembaga                      manager and custodian bank in relation to asset
        keuangan lainnya.                                              securitisation transactions owned by banks or
                                                                       other financial institutions.


                                                                358                                    ANNUAL REPORT 2023    1425
Page 919
            MAIN                       MANAGEMENT                       COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                        ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            60. KEGIATAN JASA           KUSTODIAN        DAN     WALI     60. CUSTODIAN SERVICES AND TRUST OPERATIONS
                AMANAT (lanjutan)                                             (continued)

                Kegiatan Jasa Kustodian (lanjutan)                           Custodian services (continued)

                Pada tanggal 31 Desember 2023 dan 2022, kustodian            As of 31 December 2023 and 2022, Bank Mandiri’s
                Bank Mandiri memiliki 16.846 dan 14.662 nasabah              Custodian has 16,846 and 14,662 customers,
                yang terdiri dari dana pensiun, perusahaan asuransi,         respectively, which consist of pension funds, insurance
                bank, yayasan, perusahaan sekuritas, reksadana,              companies, banks, foundation, securities companies,
                institusi/badan hukum lain maupun perseorangan.              mutual funds, other institution/legal entity and individual
                Nilai portofolio berdasarkan mata uang yang disimpan         customer. Total portfolio by currencies as of
                pada tanggal 31 Desember 2023 sebesar                        31 December 2023 are amounted to Rp583,282,609,
                Rp583.282.609, USD2.844 juta (nilai penuh) dan               USD2,844 million (full amount) and EUR0.6 million (full
                EUR0,6 juta (nilai penuh) dan pada tanggal                   amount), and as of 31 December 2022 are amounted to
                31 Desember        2022    sebesar   Rp815.382.074,          Rp815,382,074, USD2,626 million (full amount) and
                USD2.626 juta (nilai penuh) dan EUR1,94 juta (nilai          EUR1.94 million (full amount). Assets kept in custodian
                penuh). Aset yang disimpan dalam kegiatan jasa               services activities are not included in the consolidated
                kustodian tidak termasuk dalam laporan posisi                financial statement of Bank Mandiri and its
                keuangan konsolidasian Bank Mandiri dan Entitas              Subsidiaries.
                Anak.

                Bank Mandiri mengasuransikan portofolio nasabah              Bank Mandiri has insured the customer’s portfolio kept
                yang disimpan di kustodian terhadap kemungkinan              in custodians against potential losses arising from
                kerugian yang timbul dari penyimpanan dan                    safekeeping and transfer of securities in accordance
                pemindahan efek-efek sesuai dengan ketentuan                 with the Financial Services Authority’s regulation.
                Otoritas Jasa Keuangan.

                Kegiatan Wali Amanat                                         Trustee Agent Operations

                Bank Mandiri telah memberikan Jasa Wali Amanat               Bank Mandiri has been providing Trustee Agent
                sejak tahun 1983. Surat izin operasi untuk kegiatan          Operations Services since 1983. The operating license
                wali amanat telah diperbaharui dan didaftarkan               for trust services was renewed and re-registered in
                kembali ke Bapepam dan LK berdasarkan Surat                  Decree of Capital Market and Financial Institutions
                Keputusan No. 17/STTD-WA/PM/1999 tertanggal                  Supervisory Board based on Decree No. 17/STTD-
                27 Oktober 1999. Jasa-jasa yang ditawarkan adalah            WA/PM/1999 dated 27 October 1999. The type of
                sebagai berikut:                                             services are as follows:
                a. Jasa wali amanat dan agen pemantau untuk                  a.    Trustee agent for bonds and MTN issuance
                    penerbitan Obligasi dan Medium Term Notes
                    (MTN)
                b. Jasa agen pengelola rekening penampungan                  b.   Escrow agent
                c. Jasa agen pembayaran                                      c.   Paying agent
                d. Jasa penampungan dana IPO/Initial Public                  d.   Initial Public Offering/IPO (receiving bank)
                    Offering
                e. Jasa agen penjaminan                                      e.   Security agent

                Untuk periode yang berakhir pada tanggal                     As of 31 December 2023, Bank Mandiri as the Trustee
                31 Desember 2023, Bank Mandiri selaku Wali Amanat            manage 111 customers with the total value of bonds
                mengelola 111 emisi Obligasi dan MTN dengan nilai            and MTN issued based on currency amounted
                emisi berdasarkan mata uang sebesar Rp69.296.068             Rp69,296,068 and for the year ended 31 December
                dan untuk tahun yang berakhir pada tanggal                   2022 managed 83 customers with the total value of
                31 Desember 2022 mengelola 83 emisi Obligasi dan             bonds and MTN issued amounted Rp77,771,685.
                MTN dengan nilai emisi sebesar Rp77.771.685.

                Baik wali amanat maupun kustodian Bank Mandiri               Both Bank Mandiri’s trustee operations and custodian
                telah mendapat sertifikasi standar mutu pelayanan            services have received quality certification ISO
                ISO 9001:2015.                                               9001:2015.




1426 PT Bank Mandiri (Persero) Tbk                                         359
Page 920
     CORPORATE                 ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


60. KEGIATAN JASA           KUSTODIAN        DAN     WALI       60. CUSTODIAN SERVICES AND TRUST OPERATIONS
    AMANAT (lanjutan)                                               (continued)

    Kegiatan Usaha Bank Berupa Penitipan Dengan                       Trust Services
    Pengelolaan (Trust)

    Merupakan layanan penitipan dengan pengelolaan                    Bank’s trust service is the custodian services of
    atas harta milik nasabah (settlor) berdasarkan                    customer’s assets portfolio (settlor) based on a written
    perjanjian tertulis antara Bank Mandiri sebagai trustee           agreement between the Bank Mandiri as the trustee
    dan nasabah untuk kepentingan pihak yang                          and customer’s for the benefits of beneficiary.
    menerima manfaat (beneficiary).

    Bank Mandiri telah mendapatkan izin prinsip dan                   Bank Mandiri has obtained the license principle and
    surat penegasan layanan trust berdasarkan Surat                   confirmation letter for the trust services based on Bank
    Bank Indonesia No. 15/30/DPB1/PB1-1 tanggal                       Indonesia’s Letter No. 15/30/DPB1/PB1-1 dated
    26 April 2013 dan No. 15/32/DPB1/PB1-1 tanggal                    26 April 2013 and No. 15/32/DPB1/PB1-1 dated 28
    28 Agustus 2013.                                                  August 2013.

    Fungsi dari Layanan Trust Bank Mandiri adalah                     Functions of Bank Mandiri Trust Service are:
    sebagai:
    a. Agen pembayar (paying agent) yaitu kegiatan                    a.   Paying agent is the activity of receiving and
        menerima dan melakukan pemindahan uang                             transferring money and/or funds, as well as
        dan/atau dana, serta mencatat arus kas masuk                       recording cash in and cash out for and on behalf of
        dan kas keluar untuk dan atas nama nasabah                         the customer (settlor).
        (settlor).
    b. Agen investasi (investment agent) yaitu kegiatan               b.   Investment agent is the activity of placing,
        menempatkan,         mengkonversi,          dan                    converting, and administering the placement of
        mengadministrasikan penempatan dana untuk                          funds for and on behalf of the customer (settlor).
        dan atas nama nasabah (settlor).

    Layanan Trust Bank Mandiri juga mengelola nasabah                 Bank Mandiri’s Trust Service also managing customers
    dari berbagai segmen, mencakup oil and gas                        from various segments, including oil and gas company,
    company, corporate dan commercial, juga nasabah                   corporate and commercial, as well as non-profit
    non-profit organization untuk kegiatan pendistribusian            organization customers for the distribution of gas sales
    hasil penjualan gas, jual-beli/akuisisi perusahaan,               proceeds, company sales/acquisition, and pooling of
    penampungan untuk dana bantuan luar negeri dan                    funds for foreign aid and others.
    sebagainya.


61. KREDIT PENERUSAN (CHANNELING LOANS)                         61. CHANNELING LOANS

    Kredit penerusan berdasarkan sumber dana dan                      Channeling loans based on sources of funds and
    sektor ekonomi adalah sebagai berikut:                            economic sectors are as follows:


                                                     2023                    2022

    Pemerintah:                                                                                                 Government:
       Pertanian                                           163.293              173.403                         Agriculture
       Industri                                             14.543               14.543                       Manufacturing

                                                           177.836              187.946




                                                                     360                                   ANNUAL REPORT 2023    1427
Page 921
            MAIN                       MANAGEMENT                        COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                           PROFILE                       ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


            61. KREDIT PENERUSAN           (CHANNELING        LOANS)       61. CHANNELING LOANS (continued)
                (lanjutan)

                Bank Mandiri telah ditunjuk untuk menatausahakan              Bank Mandiri has been appointed to administer the
                kredit kelolaan yang diterima oleh Pemerintah                 loans received by the Government of the Republic of
                Indonesia dengan beberapa skema yang saat ini                 Indonesia through several existing schemes as follows:
                (existing) yaitu sebagai berikut:
                1. Penerusan pinjaman Kementerian Keuangan                    1.   Channeling loans from the Ministry of Finance in
                     dalam berbagai mata uang dari beberapa                        various currencies from several bilateral and
                     lembaga keuangan bilateral dan multilateral                   multilateral financial institutions to finance
                     untuk membiayai proyek-proyek Pemerintah                      Government projects through State Owned
                     melalui BUMN, BUMD dan Pemda, antara lain:                    Enterprises, Region Owned Enterprises and
                     Asian Development Bank, Banque Français &                     Regional      Government,     such     as:     Asian
                     Credit National, Barclays, BNP Paribas, BNP                   Development Bank, Banque Français & Credit
                     Paribas & CAI Belgia, Calyon & BNP Paribas,                   National, Barclays, BNP Paribas, BNP Paribas &
                     Commonwealth         Development      Corporation             CAI     Belgium,    Calyon     &    BNP     Paribas,
                     (“CDC”) NES, Export Finance and Insurance                     Commonwealth Development Corporation (“CDC”)
                     Corporation (“EFIC”) Australia, International                 NES, Export Finance and Insurance Corporation
                     Development Association (“IDA”), International                (“EFIC”) Australia, International Development
                     Bank for Reconstruction and Development,                      Association (“IDA”), International Bank for
                     Japan Bank for International Cooperation,                     Reconstruction and Development, Japan Bank for
                     Kreditanstalt Fur Wiederaufbau, Nederland Urban               International Cooperation, Kreditanstalt Fur
                     Sector Loan & De Nederlanse Inveseringsbank                   Wiederaufbau, Nederlands Urban Sector Loan &
                     voor Ontwikkelingslanden NV, Pemerintah Swiss,                De       Nederlanse       Inveseringsbank       voor
                     RDI - KI, Spanyol, U.B Denmark, US Export                     Ontwikkelingslanden NV, Swiss Government, RDI -
                     Import     Bank     dan     Overseas   Economic               KI, Spain, UB Denmark, US Export Import Bank
                     Cooperation      Fund.     Namun     berdasarkan              and Overseas Economic Cooperation Fund.
                     Peraturan             Menteri          Keuangan               However, based on the Regulation of the Minister
                     No. 40/PMK.05/2015 tanggal 6 Maret 2015                       of Finance No. 40/PMK.05/2015 dated 6 March
                     bahwa terhitung mulai tanggal 1 Oktober 2015                  2015, stated starting from 1 October 2015 the
                     pengelolaan penatausahaan pinjaman luar negeri                administration of overseas loans are managed by
                     dilakukan oleh Kementerian Keuangan, kecuali                  the Ministry of Finance, except loans in the form of
                     pinjaman dalam bentuk Project Aid BI.                         BI Project Aid.

                2.   Penerusan pinjaman eksproyek Perusahaan Inti             2.   Channeling loans from former of Perusahaan Inti
                     Rakyat (“PIR”) tetap ada kepada petani dalam                  Rakyat (“PIR”) are still exists to farmers for
                     rangka pembangunan kebun rakyat yang meliputi                 community plantation development which includes
                     proyek Nucleus Estate & Smallholder (“NES”)                   the Nucleus Estate & Smallholder (“NES”) ADB
                     ADB, PIR Khusus dan PIR Lokal. Bank Mandiri                   project, Special PIR and Local PIR. Bank Mandiri
                     sebagai penatausaha pengembalian Piutang                      as the administrator for the repayment of
                     Negara pada Petani PIR tetap ada, dimana                      receivables to PIR Farmers continues to exist,
                     Kementerian Keuangan sebagai pengelola                        whereas the Ministry of Finance is managing the
                     pengembalian piutang negara kepada petani dan                 repayment of receivables to farmers and the
                     Kementerian Pertanian sebagai pengelola teknis                Ministry of Agriculture is managing the technical
                     pelaksanaan proyek PIR tetap ada. Untuk                       execution of the PIR Project still exist. The
                     penyaluran pinjaman Perusahaan Inti Rakyat                    distribution of Perusahaan Inti Rakyat Perkebunan
                     Perkebunan (“PIR-Bun”) sudah tidak dilakukan                  (“PIR-Bun”) loans has stopped.
                     lagi.

                3.   Penerusan Pinjaman Dana Reboisasi Hutan                  3.   Channeling loans of Industrial Plantation Forest
                     Tanaman Industri (“DRHTI”) dari Kementerian                   Reforestation (“DRHTI”) from the Ministry of
                     Lingkungan Hidup dan Kehutanan (“KLHK”).                      Environment and Forestry (“KLHK”). Since 1999,
                     Terhitung sejak tahun 1999, KLHK telah                        the Ministry of Environment and Forestry has
                     menghentikan penyaluran Dana Reboisasi dalam                  stopped distributing the Reforestation Loans for
                     rangka Pinjaman untuk Pembangunan Hutan                       Industrial Plantation Forests, therefore the DRHTI
                     Tanaman Industri tersebut, sehingga pinjaman                  loans which are currently managed by PT Bank
                     DRHTI yang saat ini dikelola di PT Bank Mandiri               Mandiri (Persero) Tbk. are existing DRHTI Loans
                     (Persero) Tbk. adalah existing Pinjaman DRHTI                 which were inherited from Participating Bank.
                     yang berasal dari Bank Peserta Penggabungan.




1428 PT Bank Mandiri (Persero) Tbk                                          361
Page 922
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


61. KREDIT PENERUSAN           (CHANNELING        LOANS)     61. CHANNELING LOANS (continued)
    (lanjutan)

    Kredit penerusan tidak disajikan dalam laporan posisi       Channeling loans are not presented in the consolidated
    keuangan konsolidasian karena Bank Mandiri dan              statement of financial position since the credit risk are
    Entitas Anak tidak menanggung risiko atas kredit            not borne by the Bank and its Subsidiaries. In
    tersebut. Berdasarkan perjanjian tersebut di atas,          accordance to the agreement mentioned above, Bank
    Bank Mandiri bertugas melakukan penagihan kepada            Mandiri is responsible to bill the debtors and made
    debitur dan menyetorkan kembali kepada Pemerintah           payments to the Government in the principal, including
    pembayaran pokok kredit, termasuk bunga dan                 the interest and other charges such as loan
    beban-beban lainnya serta pengelolaan dokumentasi           documentation management. As compensation, Bank
    kredit. Sebagai gantinya, Bank Mandiri akan                 Mandiri receives banking fee which varies from 0.50% -
    menerima jasa perbankan (banking fee) yang berkisar         2%.
    antara 0,50% - 2%.


62. MANAJEMEN RISIKO                                         62. RISK MANAGEMENT

    Bank Mandiri menerapkan manajemen risiko yang               Bank      Mandiri   implements    independent     risk
    independen dan sesuai dengan standar yang merujuk           management in accordance with standards that refer to
    pada ketentuan dari OJK, Bank Indonesia serta best          the regulations of FSA, Bank Indonesia regulation and
    practices yang diterapkan di perbankan internasional.       international banking best practices. Bank Mandiri
    Bank Mandiri menggunakan konsep Enterprise Risk             adopts the Enterprise Risk Management (ERM)
    Management (ERM) sebagai salah satu strategi                concept as comprehensive and integrated risk
    manajemen risiko yang komprehensif dan terintegrasi,        management strategy which is customised with the
    yang disesuaikan dengan kebutuhan bisnis dan                Bank’s business and operational needs. ERM
    operasional Bank. Penerapan ERM akan memberikan             implementation provides value added benefits to the
    nilai tambah (value added) bagi Bank dan                    Bank’s and its stakeholders.
    stakeholders.

    ERM adalah sebuah proses pengelolaan risiko yang            ERM is a risk management process embedded in
    melekat dalam proses bisnis Bank, artinya pengelolaan       business strategies and operations that are integrated
    risiko menjadi bagian yang menyatu dalam                    in the Bank’s daily business decision making
    pengambilan keputusan bisnis Bank sehari-hari.              processes. With ERM, the Bank establishes a
    Dengan ERM, Bank akan memiliki kerangka kerja               systematic and comprehensive risk management
    pengelolaan risiko yang sistematis dan menyeluruh           framework (credit risk, market risk, and operational risk)
    (risiko kredit, risiko pasar, dan risiko operasional)       by connecting the capital management and business
    dengan menghubungkan pengelolaan modal dan                  processes with the risks in holistic approach. In
    proses bisnis dengan risiko yang dihadapi secara utuh.      addition, ERM also applies integrated risk management
    Selain itu, ERM juga menerapkan pengelolaan risiko          for the Subsidiaries, to maximise the effectiveness of
    secara terintegrasi dengan Entitas Anak untuk               supervision and value creation to the Bank based on
    memaksimalkan efektivitas pengawasan dan nilai              POJK No.17/POJK.03/2014 regarding implementation
    perusahaan         berdasarkan      POJK       Nomor        of integrated risk management for financial
    17/POJK.03/2014        yang    mengatur     mengenai        conglomerates which are appropriate for the whole
    penerapan manajemen risiko terintegrasi bagi                financial industries.
    konglomerasi keuangan yang memiliki cakupan seluruh
    industri keuangan.

    Kerangka pengelolaan risiko Bank mengacu pada               The Bank’s risk management framework is based on
    POJK Nomor 18/POJK.03/2016 tentang Penerapan                POJK      No.      18/POJK.03/2016        regarding Risk
    Manajemen Risiko Bagi Bank Umum dan Peraturan               Management Implementation for Commercial Banks
    Menteri BUMN Nomor PER-2/MBU/03/2023 tentang                and Ministerial Regulation of State-owned Enterprise
    Pedoman Tata Kelola dan Kegiatan Korporasi                  No. PER-2/MBU/03/2023 regarding Guidelines for
    Signifikan Badan Usaha Milik Negara. Kerangka               Governance and Significant Corporate Activities of
    pengelolaan risiko Bank tercantum dalam Kebijakan           State-Owned Enterprises. The Bank’s risk management
    Manajemen Risiko (KMNR), dalam kerangka                     framework is included in Risk Management Policy
    pengelolaan risiko ini, diatur berbagai kebijakan agar      (KMNR), which consists of various policies to support
    manajemen risiko berfungsi sebagai business enabler         risk management function as a business enabler for
    sehingga bisnis dapat tetap tumbuh dalam koridor            business growth within the corridor of prudential
    prudential principle dengan menerapkan proses               principle by adopting the ideal risk management
    manajemen risiko yang ideal (identifikasi - pengukuran      processes (identification - measurement - monitoring -
    - pemantauan - pengendalian risiko) pada semua level        risk control) at all organisation levels.
    organisasi.


                                                              362                                     ANNUAL REPORT 2023     1429
Page 923
            MAIN                         MANAGEMENT                      COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                         PROFILE                           ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                62. RISK MANAGEMENT (continued)

                Sebagai bagian dari proses ERM, Bank Mandiri                    As part of the ERM process, Bank Mandiri applies a
                menerapkan Risk Appetite Statement (“RAS”). RAS                 Risk Appetite Statement (“RAS”). RAS represents type
                merupakan jenis dan tingkat risiko yang sanggup                 and level of risk that the Bank is able to take/face within
                diambil/dihadapi Bank yang berada dalam kapasitas               its risk capacity in order to achieve business objectives.
                risiko yang dimiliki dalam rangka mencapai tujuan               The application of RAS is also synchronised with
                bisnis. Penerapan RAS juga disinkronkan dengan                  monitoring of Bank Mandiri's Recovery Plan indicators
                pemantauan indikator Recovery Plan Bank Mandiri                 (refer to POJK No. 14/POJK.03/2017 regarding Bank
                (mengacu pada POJK No. 14/POJK.03/2017 tentang                  Systemic Recovery Plans). The Bank Mandiri Risk
                Rencana Aksi (Recovery Plan) bagi Bank Sistemik).               Appetite Statement is as follows:
                Adapun Risk Appetite Statement Bank Mandiri sebagai
                berikut:

                     Dimensi/Dimensions                                               Statement
                                                Menjaga laba yang stabil serta sustain sesuai dengan tingkat risiko yang diambil./
                   Rentabilitas/Rentability
                                                Maintain a stable and sustainable profit in accordance with the level of risk taken.
                                                Menjaga permodalan yang kuat untuk mendukung risiko bisnis yang dihadapi dan
                                                memenuhi ketentuan Regulator./
                   Permodalan/Capital
                                                Maintain capital to support the business risks and comply with regulator
                                                requirements.
                                                     Menjaga posisi likuiditas yang kuat dalam berbagai kondisi stress./Maintain a
                   Likuiditas dan Pendanaan/        strong liquidity position under a variety of stressful conditions.
                   Liquidity and Funding            Menjaga pendanaan yang stabil dan terdiversifikasi dengan baik./Maintain stable
                                                    and well-diversified funding.
                                                    Menjaga kualitas portofolio dan konsentrasi kredit sesuai appetite Bank./Maintain
                                                    portfolio quality and credit concentration according to the Bank's appetite.
                   Risiko Kredit/Credit Risk
                                                    Menjaga biaya kredit pada level yang optimum./Maintain credit costs at optimum
                                                    levels.
                                                Menjaga eksposur risiko pasar yang timbul, baik dari aktivitas trading book maupun
                                                banking book, berada dalam appetite yang ditetapkan manajemen./
                   Risiko Pasar/Market Risk
                                                Maintain market risk exposure arising from both trading book and banking book
                                                activities within the level of appetite set by management.
                                                Menjaga batas toleransi terhadap fraud eksternal, fraud internal serta isu terkait
                   Risiko Operasional/          sistem IT dan kerahasiaan data sesuai appetite Bank./Maintain intolerance to
                   Operational Risk             external fraud, internal fraud and issues related to IT systems and data confidentiality
                                                according to the Bank’s appetite.
                                                Menjaga batas toleransi atas pelanggaran kepatuhan terhadap regulasi (yang
                   Risiko Kepatuhan/            berakibat sanksi/denda) sesuai appetite Bank./Maintain intolerance for violation of
                   Compliance Risks             regulatory compliance (which results in sanctions/fines) according to the Bank’s
                                                appetite.
                   Risiko Hukum/                Menjaga potensi kerugian akibat tuntutan hukum pada tingkat yang rendah./
                   Legal Risk                   Maintain potential losses due to lawsuits at a low level.
                   Risiko Reputasi/             Menjaga reputasi Bank melalui produk dan layanan yang handal./
                   Reputation Risk              Maintain the Bank's reputation through reliable products and services.

                Seluruh risiko-risiko yang dihadapi Bank diukur dan             All risks that faced by the Bank are measured and
                dipantau secara rutin, baik melalui metode pengukuran           monitored on regular basis through internal
                internal maupun melalui penyusunan laporan profil               measurement method, quarterly risk profile report and
                risiko secara triwulanan dan laporan tingkat kesehatan          semiannually Bank’s soundness report in order to
                Bank secara semesteran, untuk menggambarkan                     describe all the embedded risks in the Bank’s business
                seluruh risiko yang melekat dalam kegiatan bisnis Bank          activities, including consolidated Subsidiaries risks.
                termasuk risiko Entitas Anak secara konsolidasi.

                Grup tidak terekspos risiko pasar, risiko kredit dan            There are no market risk, credit risk and liquidity risk
                risiko likuiditas pada investasi pemegang unit link,            exposed to the Group for policyholders’ investments in
                dikarenakan semua risiko ditanggung langsung oleh               unit-linked contract, since all credit risk is directly borne
                masing-masing pemegang polis.                                   by each policyholder.



1430 PT Bank Mandiri (Persero) Tbk                                            363
Page 924
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                LAPORAN
                                                                                                       Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                          KEUANGAN   2023
                                                                                                       Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                              62. RISK MANAGEMENT (continued)

    Pengawasan aktif Dewan Direksi dan Dewan                    Active supervision by the Board of Directors and the
    Komisaris terhadap aktivitas manajemen risiko Bank,         Board of Commissioners on risk management activities,
    baik secara langsung maupun tidak langsung                  directly and indirectly, is implemented through the
    dilaksanakan melalui pembentukan komite di bawah            establishment of committees at the level of the Board of
    supervisi Dewan Komisaris, yaitu Komite Pemantau            Commissioners which are Risk Monitoring Committee,
    Risiko, Komite Tata Kelola Terintegrasi, Komite             Integrated Governance Committee, Remuneration and
    Remunerasi dan Nominasi, dan Komite Audit. Adapun           Nomination Committee and Audit Committee. The
    komite di bawah supervisi Direksi terdiri dari Asset &      Executive Committee under the supervision of the
    Liabilities Committee (ALCO), Risk Management &             Board of Directors consists of Asset & Liability
    Credit Policy Committee (RMPC), Integrated Risk             Committee (ALCO), Risk Management & Credit Policy
    Committee (IRC), Capital & Subsidiaries Committee           Committee (RMPC), Integrated Risk Management
    (CSC), Business Committee (BC), Information                 Committee (IRC), Capital & Subsidiaries Committee
    Technology & Digital Banking Committee (ITDC),              (CSC), Business Committee (BC), Information
    Human Capital Policy Committee (HCPC), Policy &             Technology & Digital Banking Committee (ITDC),
    Procedure Committee (PPC), Credit Committee/Rapat           Human Capital Policy Committee (HCPC), Policy &
    Komite Kredit (RKK), Transformation Committee (TC),         Procedure Committee (PPC), Credit Committee (Rapat
    dan Social & Enviromental Responsibility Committee          Komite Kredit (RKK), Transformation Committee (TC),
    (SERC).                                                     and Social & Enviromental Responsibility Committee
                                                                (SERC).

    Dari 11 komite yang berada di bawah supervisi Direksi,      From 11 Executive Committees supervised under
    terdapat 4 komite yang berkaitan langsung dengan            Board of Directors, 4 committees directly involved with
    pengelolaan manajemen risiko yaitu RMPC, IRC,               risk management, i.e. RMPC, IRC, ALCO, and PPC. All
    ALCO dan PPC. Adapun fungsi dan tugas masing-               functions and key responsibilities are as follows:
    masing komite adalah sebagai berikut:

    1.   Risk Management & Credit Policy Committee              1.   Risk Management & Credit Policy Committee
         (RMPC)                                                      (RMPC)

         Melakukan     identifikasi, pengukuran,    dan              Conducting risk identification, measurement, and
         pemantauan risiko, penetapan kebijakan dan                  monitoring, establishing policies and risk
         strategi manajemen risiko. Selain itu juga                  management strategies. In addition, formulating
         merumuskan kebijakan perkreditan, mengawasi                 credit policies, overseeing the implementation of
         pelaksanaan kebijakan perkreditan, memantau                 credit policies, monitoring the development and
         perkembangan dan kondisi portofolio perkreditan             conditions of the credit portfolio and also providing
         serta memberikan saran langkah perbaikan.                   recommendations for improvement.

    2.   Integrated Risk Committee (IRC)                        2.   Integrated Risk Committee (IRC)

         Memberikan rekomendasi kepada Direksi Entitas               Provide recommendation to the Board of Directors
         Utama dalam rangka penyusunan kebijakan                     in order to develop integrated risk management
         Manajemen Risiko Terintegrasi dan perbaikan                 regulations and revised or refined the standards for
         atau penyempurnaan kebijakan Manajemen Risiko               integrated risk management based on the results
         Terintegrasi   berdasarkan      hasil   evaluasi            of evaluation process. Bank Mandiri as Parent
         pelaksanaan. Bank Mandiri sebagai Entitas Utama             Entity has formed IRC committee as an application
         membentuk IRC sebagai wujud penerapan POJK                  of POJK No. 17/POJK.03/2014 about Integrated
         No.    17/POJK.03/2014     tentang    Penerapan             Risk Management for Financial Group. Member of
         Manajemen Risiko Terintegrasi bagi Konglomerasi             IRC includes Boards of Directors of Parent Entity
         Keuangan. Anggota IRC mencakup Direksi Entitas              and Subsidiaries.
         Utama dan Entitas Anak.

    3.   Asset & Liabilities Committee (ALCO)                   3.   Asset & Liabilities Committee (ALCO)
         Menjalankan       fungsi    penetapan    strategi           Manages Bank’s strategic management of asset
         pengelolaan aset dan liabilitas, penetapan suku             and liabilities, interest rate, liquidity and other
         bunga dan likuiditas, serta hal-hal lain yang               areas related to the asset and liability management
         terkait dengan pengelolaan aset dan liabilitas              of the Bank. Furthermore in condition of financial
         Bank. Selain itu pada kondisi tekanan/krisis                stress/crisis, ALCO has the function and
         keuangan, ALCO juga memiliki tugas dan                      responsibility to monitor Bank’s risk and financial
         wewenang untuk melakukan pemantauan                         indicators which state in the Recovery Plan in
         indikator risiko dan keuangan Bank yang                     which these indicators exceed the set limits.
         tercantum      dalam     Recovery   Plan    serta
         mengusulkan aktivasi Recovery Plan dalam hal
         indikator-indikator tersebut melampaui batasan
         yang ditetapkan.




                                                              364                                      ANNUAL REPORT 2023    1431
Page 925
            MAIN                       MANAGEMENT                          COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                             PROFILE                        ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                  62. RISK MANAGEMENT (continued)
                Dari 11 komite yang berada di bawah supervisi Direksi,          From 11 Executive Committees supervised under
                terdapat 4 komite yang berkaitan langsung dengan                Board of Directors, 4 committees directly involved with
                pengelolaan manajemen risiko yaitu RMPC, IRC,                   risk management, i.e. RMPC, IRC, ALCO and PPC. All
                ALCO, dan PPC. Adapun fungsi dan tugas masing-                  functions and key responsibilities are as follows
                masing komite adalah sebagai berikut (lanjutan):                (continued):
                 4. Policy & Procedure Committee (PPC)                          4.   Policy & Procedure Committee (PPC)
                     PPC adalah komite yang bertugas membantu                        PPC is a committee that assist the Board of
                     Direksi dalam pengaturan Peraturan Bank dalam                   Directors in arrangement of Bank’s Regulations in
                     bentuk kebijakan dan/atau prosedur serta                        the form of policies and/or procedures, as well as
                     pengaturan pemberian kewenangan kepada                          arrangement of granting authority to Bank’s
                     pejabat Bank secara ex-officio.                                 executives on an ex-officio basis.
                 Komite di bawah supervisi Dewan Komisaris yang                 Committees formed under Board of Commissioners
                 memiliki tugas dan tanggung jawab melakukan kajian             including Risk Monitoring Committee, Integrated
                 dan evaluasi atas kebijakan serta pelaksanaan                  Governance Committee, and Audit Committee, which
                 manajemen risiko Bank, serta memberikan masukan                have tasks and responsibilities to review and evaluate
                 dan rekomendasi kepada Dewan Komisaris dalam                   the policy and implementation of Bank's risk
                 rangka melaksanakan fungsi pengawasan adalah                   management, as well as providing inputs and
                 Komite Pemantau Risiko, Komite Tata Kelola                     recommendations to the Board of Commissioners in
                 Terintegrasi, dan Komite Audit.                                order to carry out the monitoring roles.
                 A. Risiko kredit                                               A.   Credit risk
                    Dalam menyalurkan kreditnya, Bank Mandiri                        In distributing its credit, Bank Mandiri always
                    senantiasa mengedepankan prinsip kehati-hatian                   prioritizes the principle of prudence which is
                    yang tercermin di beberapa aspek antara lain                     reflected in several aspects, including the
                    sebagai berikut:                                                 following:
                    1.    Tata Kelola dan Struktur Organisasi                        1.   Governance and Organisational Structure
                          Bank Mandiri senantiasa berpedoman pada                         Bank Mandiri is always guided by the Bank
                          Kebijakan Perkreditan Bank Mandiri dalam                        Mandiri Credit Policy in managing credit risk
                          mengelola risiko kredit secara end-to-end                       end-to-end which is outlined in more detail in
                          yang secara lebih rinci dituangkan dalam                        the form of Credit Procedure Standards
                          bentuk Standar Prosedur Kredit (SPK) dan                        (SPK) and Product Manuals.
                          Manual Produk.
                          Direktorat Manajemen Risiko bersama unit                        The Risk Management Directorate together
                          kerja terkait dalam melakukan manajemen                         with related work units carry out integrated
                          risiko terintegrasi untuk bertanggung jawab                     risk management to be responsible for
                          dalam mengelola 10 jenis risiko yang                            managing 10 types of risks faced by the
                          dihadapi Bank beserta Entitas Anak, serta                       Bank and its Subsidiaries, as well as
                          membahas dan mengusulkan kebijakan dan                          discussing and proposing risk management
                          pedoman pengelolaan risiko. Struktur                            policies and guidelines. The organizational
                          organisasi Direktorat Manajemen Risiko                          structure    of   the     Risk   Management
                          terdiri dari Risk Taking Unit dan Independent                   Directorate consists of the Risk Taking Unit
                          Risk Management Unit. Risk Taking Unit                          and the Independent Risk Management Unit.
                          menjalankan fungsi four-eyes principle,                         The Risk Taking Unit carries out the function
                          sedangkan Independent Risk Management                           of the four-eyes principle, while the
                          Unit bertanggung jawab langsung kepada                          Independent Risk Management Unit is
                          Direktur Manajemen Risiko. Bank Mandiri                         directly responsible to the Risk Management
                          menempatkan fungsi analisis kredit yang                         Director. Bank Mandiri places the credit
                          dilakukan oleh unit bisnis dan unit risiko                      analysis function carried out by independent
                          kredit yang independen.                                         business units and credit risk units.
                    2.    Aktivitas-aktivitas terkait Pengelolaan Risiko             2.   Activities related to Credit Risk Management
                          Kredit
                          A. Segmen Wholesale                                             A. Wholesale Segment
                              Proses pengelolaan kredit di segmen                            The credit management process in the
                              Wholesale diawali dengan menentukan                            Wholesale        segment     begins    with
                              target pasar melalui Loan Portfolio                            determining the target market through the
                              Guideline yang menetapkan Industry                             Loan Portfolio Guideline which determines
                              Classification (menarik, netral, dan                           the appropriate Industry Classification
                              selektif) dan Industry Limit yang sesuai,                      (attractive, neutral, and selective) and
                              serta memilih dan menyaring target                             Industry Limits, as well as selecting and
                              nasabah melalui Industry Acceptance                            filtering target customers through Industry
                              Criteria dan Name Clearance untuk                              Acceptance Criteria and Name Clearance
                              menghasilkan pipeline debitur yang                             to produce a suitable debtor pipeline.
                              berkualitas.                                                   quality


1432 PT Bank Mandiri (Persero) Tbk                                            365
Page 926
     CORPORATE                      ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                            Financial
     GOVERNANCE                     & PRACTICES                 RESPONSIBILITY                            KEUANGAN   2023
                                                                                                            Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                 62. RISK MANAGEMENT (continued)

    A.   Risiko kredit (lanjutan)                                  A.   Credit risk (continued)

         Dalam menyalurkan kreditnya, Bank Mandiri                      In distributing its credit, Bank Mandiri always
         senantiasa mengedepankan prinsip kehati-hatian                 prioritizes the principle of prudence which is
         yang tercermin di beberapa aspek antara lain                   reflected in several aspects, including the following
         sebagai berikut (lanjutan):                                    (continued):

         2.   Aktivitas-aktivitas terkait Pengelolaan Risiko            2.   Activities related to Credit Risk Management
              Kredit (lanjutan)                                              (continued)

              A. Segmen Wholesale (lanjutan)                                 A. Wholesale Segment (continued)

                Proses selanjutnya adalah melakukan credit                      The next process is to carry out a credit
                risk assessment menggunakan serangkaian                         risk assessment using a series of credit
                credit risk tools (credit risk rating,                          risk tools (credit risk rating, spreadsheet,
                spreadsheet, CPA, NAK, dan sebagainya)                          CPA, NAK, etc.) which is then decided by
                yang kemudian diputus oleh Pemegang                             the Authority Holder to Decide on Credit
                Kewenangan Memutus Kredit (melalui Rapat                        (through a Credit Committee Meeting) with
                Komite Kredit) dengan four-eyes principle                       a four-eyes principle involving the
                yang melibatkan Business Unit dan Credit                        Business Unit and Independent Credit Risk
                Risk Management Unit secara independen.                         Management Unit. The four-eyes principle
                Mekanisme four-eyes principle dilakukan                         mechanism is carried out by the Credit
                oleh Credit Committee sesuai limit                              Committee in accordance with the limits of
                kewenangan, dimana proses pemutusan                             authority, where the credit termination
                kredit dilaksanakan melalui mekanisme.                          process is carried out through the RKK
                                                                                mechanism.

                Setelah proses disbursement kredit, risiko                      After the credit disbursement process, the
                kredit dan potensi kegagalan debitur harus                      debtor's credit risk and potential failure
                senantiasa dimonitor dan dideteksi secara                       must always be monitored and detected
                dini (Early Warning Signals) antara lain                        early (Early Warning Signals), including by
                dengan menggunakan ALERT (watchlist)                            using ALERT (watchlist) tools and if the
                tools dan apabila debitur berpotensi                            debtor has potential problems, further
                bermasalah     maka     perlu    dilakukan                      handling needs to be carried out, including
                penanganan lebih lanjut antara lain                             collection,    recovery   activities,   and
                mencakup aktivitas collection, recovery                         restructuring.
                maupun restrukturisasi.

              B. Segmen Retail                                               B. Retail Segment

                Dengan mempertimbangkan karakteristiknya                        By     considering      its    mass    market
                yang mass market, maka proses kredit                            characteristics, the credit process is carried
                dilakukan      secara     lebih      otomatis                   out more automatically using a credit risk
                menggunakan credit risk scorecard, dengan                       scorecard,      referring     to  the    Risk
                mengacu pada Risk Acceptance Criteria                           Acceptance Criteria for each product, and
                setiap produk, serta diproses melalui work-                     processed through an automated work-
                flow yang terotomasi (loan factory). Proses                     flow (loan factory). The monitoring process
                monitoring dilakukan secara portofolio.                         is carried out in a portfolio manner.

         3.   Penilaian Kelayakan Kredit                                3.   Credit Worthiness Assessment

              A. Rating System                                               A. Rating System

                Bank Mandiri memiliki Rating System yang                        Bank Mandiri has a Rating System known
                dikenal dengan BMRS (Bank Mandiri Rating                        as BMRS (Bank Mandiri Rating System).
                System). BMRS yang telah dikembangkan                           The BMRS that has been developed by
                oleh Bank terdiri dari Rating System untuk                      the Bank consists of a Rating System for
                segmen Corporate and Commercial Banking,                        the Corporate and Commercial Banking
                Rating System untuk segmen SME, dan                             segment, a Rating System for the SME
                Rating System untuk Financial Institution                       segment, and a Rating System for
                (Bank). Dengan menggunakan Rating                               Financial Institutions (Banks). By using the
                System untuk Financial Institution (Bank),                      Rating System for Financial Institutions
                Bank dapat melakukan identifikasi dan                           (Banks), Banks can identify and measure
                pengukuran risiko Bank Counterparty yang                        the risk that Counterparty Banks can
                dapat ditoleransi dalam memberikan fasilitas                    tolerate in providing Credit Line facilities.
                Credit Line.



                                                                 366                                       ANNUAL REPORT 2023    1433
Page 927
            MAIN                         MANAGEMENT                         COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                            PROFILE                        ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                A.   Risiko kredit (lanjutan)                                    A.   Credit risk (continued)

                     Dalam menyalurkan kreditnya, Bank Mandiri                        In distributing its credit, Bank Mandiri always
                     senantiasa mengedepankan prinsip kehati-hatian                   prioritizes the principle of prudence which is
                     yang tercermin di beberapa aspek antara lain sbb.                reflected in several aspects, including the following
                     (lanjutan):                                                      (continued):

                     3.    Penilaian Kelayakan Kredit (lanjutan)                      3.   Credit Worthiness Assessment (continued)

                           B. Credit Scoring                                               B. Credit Scoring

                             Bank Mandiri juga memiliki Credit                                Bank Mandiri also has different Credit
                             Scoring yang berbeda untuk setiap                                Scoring for each segment, consisting of:
                             segmen, terdiri dari: SME Scoring, Micro                         SME Scoring, Micro Scoring, and
                             Scoring, dan Consumer Scoring. Bank                              Consumer Scoring. Bank Mandiri is also
                             Mandiri juga mulai mengembangkan                                 starting to develop generic credit scoring
                             generic credit scoring menggunakan data                          using internal data (transactions, funding
                             internal (transaksi, funding, maupun                             and lending) for Existing-to-Bank (“ETB”)
                             lending) untuk nasabah Existing-to-Bank                          customers that enables seamless credit
                             (“ETB”) yang memungkinkan proses kredit                          process through Livin’ aplication .
                             secara seamless melalui aplikasi Livin’.

                           Model yang telah dikembangkan oleh Bank,                        The models that have been developed by the
                           baik itu model risiko kredit dan non kredit,                    Bank, both credit and non-credit risk models,
                           divalidasi secara internal oleh Model                           are validated internally by the Model
                           Validator, yaitu fungsi yang independen dan                     Validator, which is a function that is
                           terpisah dari fungsi pengembang model. Hal                      independent and separate from the model
                           ini dilakukan untuk meyakini kualitas dan                       developer function. This is done to ensure the
                           validitas model. Selain validasi, hal lainnya                   quality and validity of the model. Apart from
                           yang diterapkan terkait pengelolaan risiko                      validation, another thing that is implemented
                           model yaitu penerapan kerangka tata kelola                      regarding model risk management is the
                           pengelolaan        model     (Model      Risk                   implementation of a model management
                           Management).                                                    governance      framework      (Model     Risk
                                                                                           Management).

                     4.    Monitoring Kredit                                          4.   Credit Monitoring

                           Pengelolaan risiko kredit Bank terutama                         The Bank's credit risk management is
                           diarahkan untuk meningkatkan keseimbangan                       primarily directed at improving the balance
                           antara ekspansi kredit yang sehat dengan                        between healthy credit expansion and
                           pengelolaan kredit secara prudent agar                          prudent credit management to avoid a decline
                           terhindar dari penurunan kualitas atau                          in quality or becoming a Non-Performing
                           menjadi kategori Non-Performing Loan (NPL),                     Loan (NPL), as well as managing optimal
                           serta mengelola penggunaan modal yang                           capital use through identifying business units,
                           optimal melalui identifikasi unit bisnis,                       segments, products, areas that provide
                           segmen, produk, wilayah yang memberikan                         added value for the Bank. In addition, in
                           nilai tambah bagi Bank. Selain itu, dalam                       implementing credit concentration risk
                           melaksanakan pengelolaan risiko konsentrasi                     management at the debtor level, Bank
                           kredit di level debitur, Bank Mandiri secara                    Mandiri consistently monitors the Maximum
                           konsisten memonitor Batas Maksimum                              Lending Limit (BMPK). In general, the credit
                           Pemberian Kredit (BMPK). Secara umum,                           process and credit risk management at Bank
                           proses kredit dan pengelolaan risiko kredit di                  Mandiri has been carried out end-to-end and
                           Bank Mandiri sudah dilakukan secara end-to-                     integrated.
                           end dan terintegrasi.

                           Bank melakukan identifikasi dan deteksi dini                    The Bank carries out early identification and
                           terhadap debitur Corporate dan Commercial                       detection of Corporate and Commercial
                           dengan kolektibilitas 1 dan 2 melalui ALERT                     debtors with collectibility 1 and 2 through
                           Tools. Dalam melakukan penilaian dan                            ALERT Tools. In assessing and monitoring
                           monitoring kualitas kredit, Bank mengacu                        credit quality, the Bank refers to Regulator
                           kepada ketentuan Regulator dengan                               provisions by prioritizing the principle of
                           mengedepankan         prinsip  kehati-hatian                    prudence by reviewing Pillar 3, namely
                           dengan cara melakukan revieu atas Pilar 3                       business prospects, financial performance
                           yaitu prospek usaha, kinerja keuangan, dan                      and debtor's ability to pay. Based on the
                           kemampuan           membayar          debitur.                  results of this analysis, the Bank determines
                           Berdasarkan hasil analisa tersebut, Bank                        an account strategy and action plan early to
                           menetapkan account strategy dan action                          prevent the occurrence of default.
                           plan secara dini untuk mencegah terjadinya
                           gagal bayar.



1434 PT Bank Mandiri (Persero) Tbk                                             367
Page 928
     CORPORATE                      ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                               Financial
     GOVERNANCE                     & PRACTICES                   RESPONSIBILITY                             KEUANGAN   2023
                                                                                                               Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)
    A.   Risiko kredit (lanjutan)                                    A.   Credit risk (continued)
         Dalam menyalurkan kreditnya, Bank Mandiri                        In distributing its credit, Bank Mandiri always
         senantiasa mengedepankan prinsip kehati-hatian                   prioritizes the principle of prudence which is
         yang tercermin di beberapa aspek antara lain sbb.                reflected in several aspects, including the
         (lanjutan):                                                      following (continued):
         5.    Agunan                                                     5.   Collateral
               Jenis agunan yang diterima Bank terdiri dari                    The types of collateral accepted by the Bank
               benda bergerak (antara lain agunan tunai,                       consist of movable objects (including cash
               piutang dagang, persediaan barang, mesin,                       collateral, trade receivables, inventories of
               dan surat berharga), benda tak bergerak                         goods, machinery, and securities), immovable
               (antara lain tanah, bangunan, dan mesin),                       objects (including land, buildings, and
               serta    penjaminan      (personal/corporate                    machinery),        as    well    as     guarantees
               guarantee). Untuk menjamin fasilitas kredit,                    (personal/corporate guarantee). To guarantee
               Bank mengutamakan agunan dalam bentuk                           credit facilities, the Bank prioritizes collateral in
               aset tetap berupa tanah atau tanah berikut                      the form of fixed assets in the form of land or
               bangunan. Nilai agunan yang digunakan                           land and buildings. The value of the collateral
               Bank sebagai jaminan kredit adalah nilai                        used by the Bank as credit collateral is the
               agunan yang dinilai oleh penilai internal                       value of the collateral assessed by an internal
               (Credit Operation Unit) dan penilai eksternal                   appraiser (Credit Operation Unit) and an
               rekanan Bank atau penilai eksternal bukan                       external appraiser who is a partner of the
               rekanan Bank yang telah ditunjuk pejabat                        Bank or an external appraiser who is not a
               pemegang      kewenangan      di    Business                    partner of the Bank who has been appointed
               Unit/Credit Recovery Unit.                                      by an authorized officer in the Business
                                                                               Unit/Credit Recovery Unit.
         6.    Stress Test                                                6.   Stress Test
               Untuk memantau kualitas dan menguji                             To monitor quality and test the elasticity of
               elastisitas kualitas portofolio (NPL dan yield)                 portfolio quality (NPL and yield) to changes in
               terhadap      perubahan        variabel-variabel                economic variables that can impact the Bank's
               ekonomi yang dapat berdampak pada                               capital adequacy, the Bank routinely and ad-
               kecukupan modal Bank, Bank secara rutin                         hoc carries out stress tests on the entire credit
               maupun ad-hoc melakukan stress test                             portfolio, both per large debtor group,
               terhadap seluruh portofolio kredit baik per                     business segment, industries and products
               kelompok debitur besar, segmen bisnis,                          with various scenarios.
               industri maupun produk dengan berbagai
               skenario.
                                                                               With this stress test, the Bank can understand
               Dengan stress test ini, Bank dapat                              the possible negative potential for Bank
               memahami kemungkinan potensi negatif                            Mandiri's business performance and anticipate
               terhadap kinerja bisnis Bank Mandiri dan                        it early and take portfolio control steps and the
               mengantisipasi lebih awal dan mengambil                         most optimal solutions as a short-term and
               langkah-langkah pengendalian portofolio dan                     long-term strategy so that the quality of the
               solusi yang paling optimal sebagai strategi                     Bank's credit portfolio and capital adequacy
               jangka pendek maupun jangka panjang                             are well maintained. Bank Mandiri anticipates
               sehingga kualitas portofolio kredit dan                         early and takes portfolio control measures and
               kecukupan modal Bank terjaga dengan baik.                       the most optimal solutions as a short-term and
               Bank Mandiri mengantisipasi lebih awal dan                      long-term strategy so that the quality of the
               mengambil langkah-langkah pengendalian                          credit portfolio and the Bank's capital
               portofolio dan solusi yang paling optimal                       adequacy are well maintained.
               sebagai strategi jangka pendek maupun
               jangka panjang sehingga kualitas portofolio
               kredit dan kecukupan modal Bank terjaga
               dengan baik.
         7.    Recovery Plan dan Resolution Plan                          7.   Recovery Plan and Resolution Plan
               Bank Mandiri sebagai bank sistemik telah                        Bank Mandiri as a systemic bank has
               menyusun Recovery Plan sebagaimana                              prepared a Recovery Plan as regulated in
               diatur pada POJK No. 14/POJK.03/2017                            POJK No. 14/POJK.03/2017 regarding Action
               tentang Rencana Aksi (Recovery Plan) Bagi                       Plans (Recovery Plan) for Systemic Banks.
               Bank Sistemik. Recovery Plan adalah                             Recovery Plan is a plan to overcome financial
               rencana untuk mengatasi permasalahan                            problems that may occur at Systemic Bank,
               keuangan yang mungkin terjadi di Bank                           including recovery options that Systemic Bank
               Sistemik, termasuk di antaranya opsi                            will take in response to financial stress to
               pemulihan (recovery options) yang akan                          prevent, restore or improve financial
               diambil Bank Sistemik dalam merespon                            conditions and maintain business continuity
               tekanan keuangan (financial stress) untuk                       (viability). Bank Mandiri's updated Recovery
               mencegah,       memulihkan        maupun                        Plan for 2023-2024 was submitted to the FSA
               memperbaiki kondisi keuangan serta                              in November 2023.
               menjaga kelangsungan usahanya (viability).
               Pengkinian Recovery Plan Bank Mandiri
               tahun 2023-2024 telah disampaikan kepada
               OJK pada November 2023.


                                                                   368                                         ANNUAL REPORT 2023      1435
Page 929
            MAIN                        MANAGEMENT                           COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                        ANALYSIS


                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                    62. RISK MANAGEMENT (continued)

                A.   Risiko kredit (lanjutan)                                     A.   Credit risk (continued)

                     7.    Recovery     Plan     dan     Resolution   Plan             7.   Recovery Plan        and     Resolution    Plan
                           (lanjutan)                                                       (continued)

                           Selain itu, Bank Mandiri juga telah                              Apart from that, Bank year Mandiri has also
                           menyusun Rencana Resolusi (Resolution                            prepared a Resolution Plan in accordance
                           Plan) sesuai Peraturan Lembaga Penjamin                          with the Deposit Insurance Corporation
                           Simpanan Nomor 1 Tahun 2021 tentang                              Regulation Number 1 of 2021 regarding
                           Rencana Resolusi Bagi Bank Umum yang                             Resolution Plans for Commercial Banks,
                           merupakan strategi resolusi yang akan                            which is a resolution strategy that will be
                           menjadi bahan pertimbangan bagi Lembaga                          taken into consideration by the Deposit
                           Penjamin     Simpanan    (“LPS”)    dalam                        Insurance Corporation (“LPS”) in dealing with
                           menangani Bank yang ditetapkan sebagai                           designated banks. as a failed Bank if a series
                           Bank gagal apabila serangkaian langkah                           of steps to improve the financial condition set
                           perbaikan kondisi keuangan yang telah                            out in the Recovery Plan are unable to
                           ditetapkan dalam Recovery Plan tidak dapat                       restore or improve the Bank's financial
                           mengembalikan atau memperbaiki kondisi                           condition.
                           keuangan Bank.

                     Manajemen Risiko           Kredit   dalam    Kondisi              Credit Risk Management in Endemic COVID-19
                     Endemi COVID-19                                                   Condition

                     Selama masa pandemi covid-19 berlangsung,                         During the covid-19 pandemic, Bank Mandiri
                     Bank Mandiri secara aktif berpartisipasi dalam                    actively participated in various national programs
                     berbagai program Pemulihan Ekonomi Nasional                       initiated by the Government to boost economy
                     (PEN) yang dicanangkan Pemerintah antara lain                     recovery (Pemulihan Ekonomi Nasional (PEN)),
                     penyaluran dana berdasarkan penempatan uang                       including Government fund’s distribution, loan
                     negara pada Bank, penjaminan kredit, dan subsidi                  guarantees, and interest subsidies. Among those
                     bunga. Diantara program tersebut adalah program                   programs was a program for debtors affected by
                     untuk debitur terdampak Covid-19 berdasarkan                      Covid-19 which was regulated based on POJK
                     POJK No.11/POJK.03/2020 serta perubahan                           No.11/POJK.03/2020 as well as it’s second POJK
                     keduanya POJK No.17/POJK.03/2021 yang telah                       No.17/POJK.03/2021 which ended in March 2023,
                     berakhir pada Maret 2023, maupun Keputusan                        and also the OJK Board of Commissioners Decree
                     Dewan     Komisioner     (“KDK”)    OJK     No.                   (“KDK”) No.34/KDK.03/2022 regarding sectors,
                     34/KDK.03/2022 terkait sektor, segmen serta                       segments, and regions that still require special
                     wilayah yang masih memerlukan perlakuan                           treatment for credit or bank financing which is still
                     khusus terhadap kredit atau pembiayaan bank                       valid until March 2024.
                     yang masih berlaku hingga Maret 2024.

                     Seiring dengan semakin terkendalinya pandemi                      As the Covid-19 pandemic was well managed, the
                     Covid-19, pemerintah telah memutuskan untuk                       government decided to revoke the Covid-19
                     mencabut status pandemi Covid-19 sejak Juni                       pandemic status at June 2023 and declare that
                     2023 dan menyatakan bahwa Indonesia telah                         Indonesia has entered an endemic period. This
                     memasuki masa endemi. Hal tersebut diikuti                        was followed by economic developments and
                     dengan       perkembangan       ekonomi      yang                 recovery. This improvement is also reflected in the
                     menunjukkan arah pemulihan yang semakin baik.                     improvement in the Covid-19 Restructuring
                     Perbaikan ini juga tercermin perbaikan portfolio                  portfolio, where the majority of debtors have
                     Restrukturisasi Covid-19, dimana sebagian besar                   fulfilled their credit payment obligations in line with
                     debitur telah memenuhi kewajiban pembayaran                       the improvement in debtor business conditions
                     kredit sejalan dengan perbaikan kondisi usaha                     during this endemic period. This portfolio has
                     debitur di masa endemi ini. Portfolio ini telah                   decreased from its highest position of IDR96.5
                     mengalami penurunan dari posisi tertinggi sebesar                 Trillion in June 2021 to IDR17.2 Trillion in
                     Rp96,5 Triliun pada Juni 2021 menjadi sebesar                     December 2023. At bankwide level, in December
                     Rp17,2 Triliun pada posisi Desember 2023.                         2023, NPL% was 1.02% and adequate NPL
                     Secara bankwide, pada Desember 2023, NPL%                         Coverage was 384 .78%. Taking into account
                     sebesar 1,02% dan NPL Coverage yang memadai                       these conditions, the Bank is quite confident that it
                     sebesar     384,78%.      Memperhatikan    kondisi                has succeeded in managing this portfolio well and
                     tersebut, Bank cukup menyakini telah berhasil                     achieved a soft landing, and the end of the limited
                     mengelola portofolio ini dengan baik dan mencapai                 relaxation of OJK KDK No. 34/KDK.03/2022 on 31
                     soft landing, dan berakhirnya relaksasi terbatas                  March 2024 will not cause a significant spike.
                     KDK OJK No. 34/KDK.03/2022 pada 31 Maret
                     2024 mendatang tidak akan menimbulkan
                     lonjakan yang berarti.



1436 PT Bank Mandiri (Persero) Tbk                                              369
Page 930
     CORPORATE                                ESG COMMITMENTS                               SOCIAL AND ENVIRONMENTAL                                    LAPORAN
                                                                                                                                                          Financial
     GOVERNANCE                               & PRACTICES                                   RESPONSIBILITY                                              KEUANGAN   2023
                                                                                                                                                          Statements 2023


                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                             62. RISK MANAGEMENT (continued)

    A.    Risiko kredit (lanjutan)                                                              A.     Credit risk (continued)

    (i)   Eksposur   maksimum   risiko  kredit tanpa                                            (i)   Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                 considering collateral held and other credit
          lainnya                                                                                     supports

          Eksposur maksimum risiko kredit disajikan setelah                                           Maximum credit risk exposures on financial assets
          cadangan kerugian penurunan nilai tanpa                                                     are presented net after allowance for impairment
          memperhitungkan agunan dan pendukung kredit                                                 losses without considering collateral and other
          lainnya terhadap aset keuangan pada laporan                                                 credit supports as of 31 December 2023 and 2022
          posisi keuangan konsolidasian pada tanggal                                                  are as follows:
          31 Desember 2023 dan 2022 adalah sebagai
          berikut:

                                                                               2023                          2022

                                                                                                                                              Current Account with
          Giro pada Bank Indonesia                                           108.605.322                    107.349.158                           Bank Indonesia
          Giro pada bank lain                                                 36.573.885                     47.789.700           Current Account with Other Banks
          Penempatan pada Bank Indonesia                                                                                            Placement with Bank Indonesia
            dan bank lain                                                      73.887.200                    95.320.511                          and other banks
          Efek-efek**)                                                                                                                      Marketable securities**)
            Pemerintah                                                                                                                                Government
               Diukur pada nilai wajar                                                                                                       Fair value through
                 melalui laba rugi                                               9.613.295                   10.089.149                          profit or loss
               Diukur pada nilai wajar melalui                                                                                               Fair value through
                 penghasilan komprehensif lain                                   1.425.783                    1.117.351         other comprehensive income
               Diukur pada biaya perolehan
                 diamortisasi                                                       690.638                    720.769                         Amortised cost
            Non-pemerintah                                                                                                                      Non-government
               Diukur pada nilai wajar                                                                                                      Fair value through
                 melalui laba rugi                                               9.752.030                    1.028.671                           profit or loss
               Diukur pada nilai wajar melalui                                                                                              Fair value through
                 penghasilan komprehensif lain                                 47.383.080                    28.189.646         other comprehensive income
               Diukur pada biaya perolehan
                 diamortisasi                                                    5.200.667                    7.232.607                          Amortised cost
               Diukur pada biaya perolehan                                       1.186.153                   11.231.444                                    At cost
          Obligasi pemerintah***)                                                                                                              Government bonds***)
            Diukur pada nilai wajar                                                                                                             Fair value through
               melalui laba rugi                                               12.078.509                     6.972.279                             profit or loss
            Diukur pada nilai wajar melalui                                                                                                     Fair value through
               penghasilan komprehensif lain                                   90.640.924                    92.532.086             other comprehensive income
            Diukur pada biaya perolehan
               diamortisasi                                                  163.194.756                    180.578.053                             Amortised cost
            Diukur pada biaya perolehan                                       34.541.812                     44.213.180                                     At cost
          Tagihan lainnya - transaksi                                                                                                      Other receivables - trade
            perdagangan                                                        24.549.900                    32.188.559                               transactions
          Tagihan atas efek-efek yang dibeli                                                                                             Securities purchased under
            dengan janji dijual kembali                                        22.692.928                    11.705.989                       agreements to resell
          Tagihan derivatif                                                     1.994.931                     2.252.141                      Derivatives receivables
          Kredit yang diberikan dan                                                                                                                 Loans and sharia
            piutang/pembiayaan syariah*)                                                                                                    receivables/financing*)
            Korporasi                                                        471.902.013                    392.944.033                                  Corporate
            Komersial                                                        221.359.876                    172.687.792                               Commercial
            Retail                                                           385.239.379                    345.335.169                                      Retail
            Syariah                                                          228.232.308                    197.020.243                                     Sharia
          Piutang pembiayaan konsumen                                         32.036.752                     23.147.366               Consumer financing receivables
          Investasi bersih dalam                                                                                                              Net investment finance
            sewa pembiayaan                                                     5.419.072                     5.733.387                                     leases
          Tagihan akseptasi                                                    14.671.676                    11.719.618                      Acceptance receivables
          *)     Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi,                       *)      Segments of risk management are classified into Corporate,
                 Komersial, Retail, dan Syariah.                                                              Commercial, Retail and Sharia.
          **)    Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis                **)     Excluding marketable securities which are the investment from the
                 unit-link Entitas Anak yang tidak memiliki risiko kredit.                                    Subsidiaries policyholder’s unit-link which has no credit risk exposure.
          ***)   Tidak termasuk obligasi pemerintah yang merupakan investasi dari                     ***)    Excluding government bonds which are the investment from the
                 pemegang polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                     Subsidiaries’ policyholder’s unit-link which has no credit risk exposure.




                                                                                              370                                                         ANNUAL REPORT 2023              1437
Page 931
            MAIN                              MANAGEMENT                                      COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                         PROFILE                                   ANALYSIS


                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                     62. RISK MANAGEMENT (continued)

                A.    Risiko kredit (lanjutan)                                                     A.     Credit risk (continued)

                (i)   Eksposur      maksimum risiko kredit tanpa                                   (i)   Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                        considering collateral held and other credit
                      lainnya (lanjutan)                                                                 supports (continued)

                      Eksposur maksimum risiko kredit disajikan setelah                                  Maximum credit risk exposures on financial assets
                      cadangan kerugian penurunan nilai tanpa                                            are presented net after allowance for impairment
                      memperhitungkan agunan dan pendukung kredit                                        losses without considering collateral and other
                      lainnya terhadap aset keuangan pada laporan                                        credit supports as of 31 December 2023 and 2022
                      posisi keuangan konsolidasian pada tanggal                                         are as follows (continued):
                      31 Desember 2023 dan 2022 adalah sebagai
                      berikut (lanjutan):

                                                                                 2023                         2022

                      Aset lain-lain                                                                                                                                 Other assets
                          Pendapatan yang masih
                             akan diterima                                        10.258.180                    9.532.493                          Accrued income
                          Piutang transaksi                                                                                                       Receivables from
                             nasabah                                               2.960.484                    2.334.250                  customer transactions
                          Tagihan terkait dengan transaksi                                                                           Receivables from transactions
                             ATM dan kartu kredit                                  7.379.393                    2.080.874         related to ATM and credit card
                          Tagihan kepada pemegang polis                              296.997                      224.690           Receivables from policyholders
                          Penjualan efek-efek yang                                                                                        Receivables from sales of
                             masih akan diterima                                      570.711                    231.650                    marketable securities
                          Tagihan atas obligasi pemerintah                                                                            Receivables from government
                             yang diagunkan                                        1.391.944                    3.757.955             bonds pledged as collateral

                                                                             2.025.730.598               1.847.260.813


                      Eksposur risiko kredit terhadap rekening                                           Credit risk exposures relating to administrative
                      administratif   setelah   cadangan   kerugian                                      accounts net after allowance for impairment losses
                      penurunan nilai pada tanggal 31 Desember 2023                                      as of 31 December 2023 and 2022 are as follows:
                      dan 2022 adalah sebagai berikut:

                                                                                 2023                         2022

                      Bank garansi yang diterbitkan                             113.766.176                   109.339.109                          Bank guarantees issued
                      Fasilitas kredit yang diberikan yang
                           belum digunakan*)                                      86.748.253                   83.626.620                            Unused loan facilities*)
                      Letter of credit yang tidak dapat                                                                                             Outstanding irrevocable
                           dibatalkan yang masih berjalan                         20.827.041                   28.214.783                                  letter of credit
                      Standby letter of credit                                    14.733.445                   11.805.551                            Standby letter of credit

                                                                                236.074.915                   232.986.063

                      *)   Termasuk fasilitas kredit committed dan uncommitted kartu kredit              *)     Include unused committed and uncommitted credit card facilities
                           yang belum digunakan.


                      Tabel di atas menggambarkan eksposur                                               The above table represents the maximum financial
                      maksimum aset keuangan atas risiko kredit bagi                                     assets exposure on credit risk for Bank Mandiri
                      Bank Mandiri dan Entitas Anak pada tanggal                                         and Subsidiaries as of 31 December 2023 and
                      31    Desember     2023     dan    2022,     tanpa                                 2022, without taking into account any collateral
                      memperhitungkan agunan atau pendukung kredit                                       held or other credit support. For financial assets in
                      lainnya. Untuk aset keuangan dalam laporan                                         the consolidated statement of financial position, the
                      posisi keuangan konsolidasian, eksposur di atas                                    exposures set out above are based on carrying
                      ditentukan berdasarkan nilai tercatat seperti yang                                 amounts as reported in the consolidated financial
                      diungkapkan      pada      laporan      keuangan                                   statements.
                      konsolidasian.



1438 PT Bank Mandiri (Persero) Tbk                                                               371
Page 932
     CORPORATE                                       ESG COMMITMENTS                                          SOCIAL AND ENVIRONMENTAL                                               LAPORAN
                                                                                                                                                                                       Financial
     GOVERNANCE                                      & PRACTICES                                              RESPONSIBILITY                                                         KEUANGAN   2023
                                                                                                                                                                                       Statements 2023


                                                                 PT BANK MANDIRI (PERSERO) Tbk.
                                                            DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                        (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                              62. RISK MANAGEMENT (continued)
    A.    Risiko kredit (lanjutan)                                                                                  A.     Credit risk (continued)
    (i)   Eksposur      maksimum risiko kredit tanpa                                                               (i)    Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                                     considering collateral held and other credit
          lainnya (lanjutan)                                                                                              supports (continued)
          Konsentrasi risiko aset                                keuangan               dengan                            Concentration of risks of financial assets with credit
          eksposur risiko kredit                                                                                          risk exposure
          a)          Sektor geografis                                                                                    a)    Geographical sectors
                      Tabel berikut menggambarkan rincian                                                                       The following table breaks down Bank Mandiri
                      eksposur kredit Bank Mandiri dan Entitas                                                                  and its subsidiaries’s credit exposure at their
                      Anak       pada      nilai   bruto      (tanpa                                                            gross amounts (without taking into account
                      memperhitungkan         cadangan      kerugian                                                            any allowance for impairment losses, collateral
                      penurunan nilai, agunan atau pendukung                                                                    held or other credit support), as categorised by
                      kredit    lainnya),     yang     dikategorikan                                                            geographical region as of 31 December 2023
                      berdasarkan area geografis pada tanggal                                                                   and 2022. In the following table, Bank Mandiri
                      31 Desember 2023 dan 2022. Untuk tabel ini,                                                               and its Subsidiaries have allocated exposures
                      Bank Mandiri dan Entitas Anak telah                                                                       based on the geographical area where the
                      mengalokasikan eksposur area berdasarkan                                                                  transactions are recorded.
                      wilayah geografis dimana kantor pencatatan
                      transaksi dilakukan.
                                                                                                                   2023
                                                                                                                                                        ****)
                                                              Jawa                                                                            Lain-lain****) /
                                                           dan/and Bali           Sumatera            Kalimantan          Sulawesi             Others                  Total

                      Giro pada                                                                                                                                                                Current accounts with
                        Bank Indonesia                        108.605.322                        -                  -                   -                        -    108.605.322                  Bank Indonesia
                      Giro pada                                                                                                                                                                Current accounts with
                        bank lain                               28.796.884                      5                428                    -           7.808.773          36.606.090                      other banks
                      Penempatan pada                                                                                                                                                                 Placement with
                        Bank Indonesia                                                                                                                                                         Bank Indonesia and
                        dan bank lain                           62.117.730               190.000              65.000           150.000             11.365.427          73.888.157                       other banks
                      Efek-efek **)                                                                                                                                                            Marketable securities**)
                        Pemerintah                                                                                                                                                                     Government
                          Diukur pada nilai wajar                                                                                                                                              Fair value through
                            melalui laba rugi                    5.680.822                       -                  -                   -           3.932.473           9.613.295                  profit or loss
                          Diukur pada nilai wajar
                            melalui penghasilan
                            komprehensif lain                              -                     -                  -                   -           1.425.783           1.425.783          Fair value through OCI
                          Diukur pada biaya
                            perolehan
                            diamortisasi                                   -                     -                  -                   -              690.638            690.638                 Amortised cost
                        Non-pemerintah                                                                                                                                                            Non Government
                          Diukur pada nilai wajar                                                                                                                                              Fair value through
                            melalui laba rugi                    9.757.095                       -                  -                   -                        -      9.757.095                  profit or loss
                          Diukur pada nilai wajar
                            melalui penghasilan
                            komprehensif lain                   46.477.179                       -                  -                   -              920.838         47.398.017          Fair value through OCI
                          Diukur pada biaya
                            perolehan
                            diamortisasi                         4.248.945                       -                  -                   -              968.792          5.217.737                  Amortised cost
                          Diukur pada biaya
                            perolehan                            1.300.883                       -                  -                   -                        -      1.300.883                           At cost
                      Obligasi pemerintah ***)                                                                                                                                                  Government Bonds***)
                        Diukur pada nilai wajar                                                                                                                                                  Fair value through
                          melalui laba rugi                     12.078.509                       -                  -                   -                        -     12.078.509                    profit or loss
                        Diukur pada nilai wajar
                          melalui penghasilan
                          komprehensif lain                     90.640.924                       -                  -                   -                        -     90.640.924            Fair value through OCI
                        Diukur pada biaya
                          perolehan diamortisasi              163.194.756                        -                  -                   -                        -    163.194.756                    Amortised cost
                        Diukur pada biaya
                          perolehan                             34.541.812                       -                  -                   -                        -     34.541.812                              At cost
                      Tagihan lainnya -                                                                                                                                                       Other receivables-trade
                        transaksi perdagangan                   25.844.392                       -                  -                   -              200.161         26.044.553                       transactions
                      Tagihan atas efek-efek                                                                                                                                                    Securities purchased
                        yang dibeli dengan                                                                                                                                                       under agreements
                        janji dijual kembali                    22.692.928                       -                  -                   -                    -         22.692.928                             to resell
                      Tagihan derivatif                          1.862.557                       -                  -                   -              132.374          1.994.931             Derivatives receivables
                      Kredit yang diberikan                                                                                                                                                          Loans and sharia
                        dan piutang/pembiayaan                                                                                                                                                          receivables/
                        syariah*)                                                                                                                                                                          financing*)
                        Korporasi                             341.746.589            37.314.490             6.504.337       19.951.960             83.137.199         488.654.575                          Corporate
                        Komersial                             157.186.462            36.714.332            25.446.684       10.688.853              3.808.823         233.845.154                       Commercial
                        Retail                                255.253.187            70.280.790            31.016.720       33.195.531              9.678.701         399.424.929                                Retail
                        Syariah                               146.698.505            56.042.446            15.646.467       11.727.492              7.792.627         237.907.537                               Sharia
                      Piutang pembiayaan                                                                                                                                                         Consumer financing
                        konsumen                                20.243.294            4.962.397             3.976.394        3.378.503                 189.208         32.749.796                        receivables
                      Investasi bersih dalam                                                                                                                                                   Net investment finance
                        sewa pembiayaan                          4.831.865               262.417             246.374           125.414                 23.172           5.489.242                               leases
                      Tagihan akseptasi                         13.126.393                     -                   -                 -              1.667.495          14.793.888             Acceptance receivables
                      Aset lain-lain                                                                                                                                                                      Other assets
                        Pendapatan yang masih
                          akan diterima                          8.133.984               427.858             168.667           353.436              1.174.235          10.258.180                  Accrued Income
                        Piutang transaksi                                                                                                                                               Receivables from customer
                          nasabah                                2.969.136                       -                  -                   -                        -      2.969.136                    transactions
                        Tagihan terkait dengan                                                                                                                                       Receivables from transactions
                          transaksi ATM dan                                                                                                                                                  related to ATM and
                          kartu kredit                           7.379.393                       -                  -                   -                        -      7.379.393                      credit card
                        Tagihan kepada                                                                                                                                                              Receivables to
                          pemegang polis                           296.997                       -                  -                   -                        -        296.997                   policyholders
                        Penjualan efek-efek                                                                                                                                                      Receivables from
                          yang masih                                                                                                                                                         sales of marketable
                           harus diterima                          568.178                       -                  -                   -                 2.533           570.711                       securities
                        Tagihan atas obligasi                                                                                                                                         Receivable from government
                          pemerintah yang diagunkan              1.391.944                       -                  -                   -                        -      1.391.944     bonds pledged as collateral
                                                            1.577.666.665           206.194.735            83.071.071       79.571.189           134.919.252         2.081.422.912

               *)        Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                              *)          Segments of risk management are classified into Corporate, Commercial,
                         Retail, dan Syariah.                                                                                               Retail and Sharia.
               **)       Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-link                        **)         Excluding securities which are the investment of the Subsidiary’s unit-link
                         Entitas Anak yang tidak memiliki risiko kredit.                                                                    policyholders with no credit risk.
               ***)      Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                              ***)        Excluding government bonds from investments from Subsidiary’s unit-link
                         polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                    policyholders with no credit risk.
               ****)     Lain-lain termasuk portofolio di daerah Papua dan cabang luar negeri.                                  ****)       Others include portfolios in Papua and overseas branches.



                                                                                                                 372                                                                  ANNUAL REPORT 2023                  1439
Page 933
            MAIN                                          MANAGEMENT                                                   COMPANY                                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                    REPORTS                                                      PROFILE                                                  ANALYSIS


                                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                        (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                              62. RISK MANAGEMENT (continued)
                A.    Risiko kredit (lanjutan)                                                                                  A.     Credit risk (continued)
                (i)   Eksposur      maksimum risiko kredit tanpa                                                               (i)    Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                                                     considering collateral held and other credit
                      lainnya (lanjutan)                                                                                              supports (continued)
                      Konsentrasi risiko aset keuangan                                              dengan                            Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                                                               risk exposure (continued)
                      a)          Sektor geografis (lanjutan)                                                                         a)    Geographical sectors (continued)
                                                                                                                               2022
                                                                          Jawa                                                                            Lain-lain****)/
                                                                       dan/and Bali           Sumatera            Kalimantan          Sulawesi             Others****)              Total

                                  Giro pada                                                                                                                                                                 Current accounts with
                                    Bank Indonesia                        107.349.158                        -                  -                   -                       -      107.349.158                  Bank Indonesia
                                  Giro pada                                                                                                                                                                 Current accounts with
                                    bank lain                               43.225.797                     10                566                    -           4.583.612           47.809.985                      other banks
                                  Penempatan pada                                                                                                                                                                  Placement with
                                    Bank Indonesia                                                                                                                                                          Bank Indonesia and
                                    dan bank lain                           81.180.835               700.000             225.000           275.000            12.943.277            95.324.112                       other banks
                                  Efek-efek **)                                                                                                                                                             Marketable securities**)
                                    Pemerintah                                                                                                                                                                      Government
                                      Diukur pada nilai wajar                                                                                                                                               Fair value through
                                        melalui laba rugi                    6.507.855                       -                  -                   -           3.581.294           10.089.149                  profit or loss
                                      Diukur pada nilai wajar
                                        melalui penghasilan
                                        komprehensif lain                              -                     -                  -                   -           1.117.351            1.117.351         Fair value through OCI
                                      Diukur pada biaya
                                        perolehan                                                                                                                                                              Amortised cost
                                        diamortisasi                             19.498                      -                  -                   -             701.271              720.769                 Non Government
                                    Non-pemerintah
                                      Diukur pada nilai wajar                                                                                                                                             Fair value through
                                        melalui laba rugi                    1.029.087                       -                  -                   -                       -        1.029.087                    profit or loss
                                      Diukur pada nilai wajar
                                        melalui penghasilan
                                        komprehensif lain                   27.224.107                       -                  -                   -             967.353           28.191.460         Fair value through OCI
                                      Diukur pada biaya
                                        perolehan
                                        diamortisasi                         6.247.291                       -                  -                   -           1.006.743            7.254.034                 Amortised cost
                                      Diukur pada biaya
                                        perolehan                           11.248.978                       -                  -                   -                       -       11.248.978                          At cost
                                  Obligasi pemerintah ***)                                                                                                                                                  Government Bonds***)
                                    Diukur pada nilai wajar                                                                                                                                                  Fair value through
                                      melalui laba rugi                      6.972.279                       -                  -                   -                       -        6.972.279                   profit or loss
                                    Diukur pada nilai wajar
                                      melalui penghasilan
                                      komprehensif lain                     92.532.086                       -                  -                   -                       -       92.532.086           Fair value through OCI
                                    Diukur pada biaya
                                      perolehan diamortisasi              180.578.053                        -                  -                   -                       -      180.578.053                   Amortised cost
                                    Diukur pada biaya
                                      perolehan                             44.213.180                       -                  -                   -                       -       44.213.180                             At cost
                                  Tagihan lainnya -                                                                                                                                                       Other receivables-trade
                                    transaksi perdagangan                   33.655.400                       -                  -                   -             137.864           33.793.264                      transactions
                                  Tagihan atas efek-efek                                                                                                                                                    Securities purchased
                                    yang dibeli dengan                                                                                                                                                       under agreements
                                    janji dijual kembali                    11.705.989                       -                  -                   -                   -           11.705.989                            to resell
                                  Tagihan derivatif                          2.127.025                       -                  -                   -             125.116            2.252.141            Derivatives receivables
                                  Kredit yang diberikan                                                                                                                                                          Loans and sharia
                                    dan piutang/pembiayaan                                                                                                                                                          receivables/
                                    syariah*)                                                                                                                                                                          financing*)
                                    Korporasi                             289.304.101            33.347.378             4.928.154       17.905.950            68.109.846           413.595.429                         Corporate
                                    Komersial                             132.126.167            33.740.244            18.965.216        5.472.005             3.334.118           193.637.750                      Commercial
                                    Retail                                232.434.832            62.917.394            26.331.082       29.096.756             8.379.634           359.159.698                               Retail
                                    Syariah                               125.804.353            48.745.224            14.830.907       10.418.466             6.408.055           206.207.005                              Sharia
                                  Piutang pembiayaan                                                                                                                                                         Consumer financing
                                    konsumen                                15.345.010            3.739.164             2.446.988        2.083.416                143.149           23.757.727                       receivables
                                  Investasi bersih dalam                                                                                                                                                   Net investment finance
                                    sewa pembiayaan                          5.520.201               154.308             136.227            38.777                 23.047            5.872.560                              leases
                                  Tagihan akseptasi                         10.343.592                     -                   -                 -              1.437.989           11.781.581            Acceptance receivables
                                  Aset lain-lain                                                                                                                                                                      Other assets
                                    Pendapatan yang masih
                                      akan diterima                          7.997.397               383.472             140.808           257.790                753.026            9.532.493                Accrued Income
                                    Piutang transaksi                                                                                                                                               Receivables from customer
                                      nasabah                                2.342.636                       -                  -                   -                       -        2.342.636                   transactions
                                    Tagihan terkait dengan                                                                                                                                                   Receivables from
                                      transaksi ATM dan                                                                                                                                               transactions related to
                                      kartu kredit                           2.080.874                       -                  -                   -                       -        2.080.874          ATM and credit card
                                    Tagihan kepada                                                                                                                                                              Receivables to
                                      pemegang polis                           224.690                       -                  -                   -                       -          224.690                 policyholders
                                    Penjualan efek-efek                                                                                                                                                      Receivables from
                                      yang masih                                                                                                                                                         sales of marketable
                                       harus diterima                          225.715                       -                  -                   -                5.935             231.650                      securities
                                    Tagihan atas obligasi                                                                                                                                                    Receivables from
                                      pemerintah yang                                                                                                                                                     government bonds
                                      diagunkan                              3.757.955                       -                  -                   -                       -        3.757.955          pledged as collateral
                                                                        1.483.324.141           183.727.194            68.004.948       65.548.160           113.758.680          1.914.363.123


                           *)        Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                              *)          Segments of risk management are classified into Corporate, Commercial,
                                     Retail, dan Syariah.                                                                                               Retail and Sharia.
                           **)       Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-link                        **)         Excluding securities which are the investment of the Subsidiary’s unit-link
                                     Entitas Anak yang tidak memiliki risiko kredit.                                                                    policyholders with no credit risk.
                           ***)      Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                              ***)        Excluding government bonds from investments from Subsidiary’s unit-link
                                     polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                    policyholders with no credit risk.
                           ****)     Lain-lain termasuk portofolio di daerah Papua dan cabang luar negeri.                                  ****)       Others include portfolios in Papua and overseas branches.




1440 PT Bank Mandiri (Persero) Tbk                                                                                           373
Page 934
     CORPORATE                               ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                                         LAPORAN
                                                                                                                                                             Financial
     GOVERNANCE                              & PRACTICES                                  RESPONSIBILITY                                                   KEUANGAN   2023
                                                                                                                                                             Statements 2023


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                    (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                          62. RISK MANAGEMENT (continued)

    A.    Risiko kredit (lanjutan)                                                               A.      Credit risk (continued)

    (i)   Eksposur      maksimum risiko kredit tanpa                                             (i)    Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                   considering collateral held and other credit
          lainnya (lanjutan)                                                                            supports (continued)

          Konsentrasi risiko aset keuangan                               dengan                         Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                             risk exposure (continued)

          a)   Sektor geografis (lanjutan)                                                              a)     Geographical sectors (continued)

               Eksposur risiko kredit atas rekening                                                            Credit risk exposure relating to administrative
               administratif adalah sebagai berikut:                                                           accounts are as follows:
                                                                                                 2023
                                                       Jawa                                                               Lain-lain****)/
                                                    dan/and Bali     Sumatera       Kalimantan          Sulawesi           Others****)       Total

               Rekening administratif                                                                                                                            Administrative accounts
                Bank garansi yang diterbitkan         111.755.316        461.562          52.231              61.121            2.270.223    114.600.453       Bank guarantees issued
                Fasilitas kredit yang diberikan
                  yang belum digunakan*)                47.457.497      6.832.486       1.499.775            427.547          30.759.661      86.976.966         Unused loan facilities*)
                Letter of credit yang tidak dapat
                  dibatalkan yang                                                                                                                               Outstanding irrevocable
                  masih berjalan                        19.847.952             -                 -                   -          1.034.020     20.881.972               letter of credit
                Standby letter of credit                13.985.388        69.604                 -                   -            704.290     14.759.282         Standby letter of credit

                                                      193.046.153       7.363.652       1.552.006            488.668          34.768.194     237.218.673


                                                                                                 2022
                                                       Jawa                                                               Lain-lain****)/
                                                    dan/and Bali     Sumatera       Kalimantan          Sulawesi           Others****)       Total

               Rekening administratif                                                                                                                            Administrative accounts
                Bank garansi yang diterbitkan         108.918.922        451.747          43.760              35.217            1.556.861    111.006.507       Bank guarantees issued
                Fasilitas kredit yang diberikan
                  yang belum digunakan*)                51.820.764      7.465.032        305.565             561.768          23.752.263      83.905.392         Unused loan facilities*)
                Letter of credit yang tidak dapat
                  dibatalkan yang                                                                                                                               Outstanding irrevocable
                  masih berjalan                        25.316.143             -                 -                   -          3.001.138     28.317.281               letter of credit
                Standby letter of credit                11.036.469        75.594                 -                   -            718.249     11.830.312         Standby letter of credit


                                                      197.092.298       7.992.373        349.325             596.985          29.028.511     235.059.492


               *)     Termasuk fasilitas kredit committed dan uncommitted kartu                                *)        Include unused committed and uncommitted credit card
                      kredit yang belum digunakan.                                                                       facilities
               **)    Lain-lain termasuk portofolio di daerah Papua dan cabang                                 **)       Others include portfolios in Papua and overseas branches.
                      luar negeri.




                                                                                             374                                                            ANNUAL REPORT 2023              1441
Page 935
            MAIN                                          MANAGEMENT                                                 COMPANY                                                  MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                    REPORTS                                                    PROFILE                                                  ANALYSIS


                                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                        NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                               FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                      (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                              62. RISK MANAGEMENT (continued)
                A.    Risiko kredit (lanjutan)                                                                                A.       Credit risk (continued)
                (i)   Eksposur      maksimum risiko kredit tanpa                                                              (i)      Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                                                      considering collateral held and other credit
                      lainnya (lanjutan)                                                                                               supports (continued)
                      Konsentrasi risiko aset keuangan                                                  dengan                         Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                                                                risk exposure (continued)
                      b)          Sektor industri                                                                                      b)     Industry sectors
                                  Tabel berikut ini menggambarkan rincian                                                                     The following table describe Bank’s credit
                                  eksposur kredit Bank pada nilai bruto (tanpa                                                                exposure at gross amounts (without taking into
                                  memperhitungkan      cadangan       kerugian                                                                account any allowance for impairment losses,
                                  penurunan nilai, agunan atau pendukung                                                                      collateral held or other credit support), as
                                  kredit   lainnya),   yang      dikategorikan                                                                categorised by industry sectors as of
                                  berdasarkan sektor industri pada tanggal                                                                    31 December 2023 and 2022.
                                  |31 Desember 2023 dan 2022.
                                                                                                                           2023
                                                                                      Lembaga
                                                                                     keuangan/
                                                                                        Bank/                                               Jasa dunia
                                                                                      Financial                                               usaha/                       ****)
                                                                Pemerintah/          institution/         Industri/      Pertanian/          Business           Lain-lain****)  /
                                                                Government              Bank            Manufacturing    Agriculture         services            Others                    Total

                                  Giro pada                                                                                                                                                                 Current accounts with
                                    Bank Indonesia                              -     108.605.322                    -                 -                    -                       -    108.605.322           Bank Indonesia
                                  Giro pada                                                                                                                                                                 Current accounts with
                                    bank lain                                   -      36.606.090                    -                 -                    -                       -     36.606.090               other banks
                                  Penempatan pada                                                                                                                                                                  Placement with
                                    Bank Indonesia                                                                                                                                                           Bank Indonesia and
                                    dan bank lain                               -      73.888.157                    -                 -                    -                       -     73.888.157                 other banks
                                  Efek-efek **)                                                                                                                                                            Marketable securities**)
                                    Pemerintah                                                                                                                                                                      Government
                                      Diukur pada nilai wajar                                                                                                                                               Fair value through
                                        melalui laba rugi             9.613.295                     -                -                 -                    -                       -      9.613.295            profit or loss
                                      Diukur pada nilai wajar                                                                                                                                               Fair value through
                                        melalui penghasilan                                                                                                                                             other comprehensive
                                        komprehensif lain             1.425.783                     -                -                 -                    -                       -      1.425.783                  income
                                      Diukur pada biaya
                                        perolehan
                                        diamortisasi                    690.638                     -                -                 -                    -                       -        690.638             Amortised cost
                                      Diukur pada biaya
                                        perolehan                               -                   -                -                 -                    -                       -               -                    At cost
                                    Non-Pemerintah                                                                                                                                                              Non Government
                                      Diukur pada nilai wajar                   -        9.494.926              29.812              13                 79.588            152.756           9.757.095        Fair value through
                                        melalui laba rugi                                                                                                                                                        profit or loss
                                      Diukur pada nilai wajar                                                                                                                                               Fair value through
                                        melalui penghasilan                                                                                                                                             other comprehensive
                                        komprehensif lain                       -      43.576.589              144.021        380.819                 632.716          2.663.872          47.398.017                   income
                                      Diukur pada biaya
                                        perolehan
                                        diamortisasi                            -        1.868.037             512.000        245.000              1.659.736             932.964           5.217.737             Amortised cost
                                      Diukur pada biaya
                                        perolehan                               -          433.084              75.000         85.000                 213.800            493.999           1.300.883                     At cost
                                  Obligasi pemerintah***)                                                                                                                                                    Government Bonds***)
                                    Diukur pada nilai wajar                                                                                                                                                   Fair value through
                                      melalui laba rugi             12.078.509                      -                -                 -                    -                       -     12.078.509              profit or loss
                                    Diukur pada nilai wajar                                                                                                                                                   Fair value through
                                      melalui penghasilan                                                                                                                                                 other comprehensive
                                      komprehensif lain             90.640.924                      -                -                 -                    -                       -     90.640.924                    income
                                    Diukur pada biaya
                                      perolehan
                                      diamortisasi                 163.194.756                      -                -                 -                    -                       -    163.194.756               Amortised cost
                                    Diukur pada biaya
                                      perolehan                     34.541.812                      -                -                 -                    -                       -     34.541.812                       At cost
                                  Tagihan lainnya -                                                                                                                                                              Other receivables-
                                    transaksi perdagangan                       -        1.544.564                   -                 -                    -        24.499.989           26.044.553          trade transactions
                                  Tagihan atas efek-efek                                                                                                                                                     Securities purchased
                                    yang dibeli dengan                                                                                                                                                              under resale
                                    janji dijual kembali                        -      22.688.379                    -                 -                4.549                  -          22.692.928                 agreements
                                  Tagihan derivatif                             -          28.932                    -                 -                    -          1.965.999           1.994.931       Derivatives receivables
                                  Kredit yang diberikan dan                                                                                                                                                       Loans and sharia
                                    piutang/pembiayaan                                                                                                                                                               receivables/
                                    syariah*)                                                                                                                                                                          financing*)
                                    Korporasi                       59.690.119           6.526.940         244.885.113     31.304.254         92.736.188            53.511.961           488.654.575                    Corporate
                                    Komersial                                -           1.596.142          75.274.796     51.693.660         73.043.037            32.237.519           233.845.154                 Commercial
                                    Retail                                   -              58.970          21.657.576     41.134.628        100.253.211           236.320.544           399.424.929                        Retail
                                    Syariah                         20.953.214           5.869.696          11.796.536     17.868.523         20.150.979           161.268.589           237.907.537                       Sharia
                                  Piutang pembiayaan                                                                                                                                                          Consumer financing
                                    konsumen                             52.708             95.885             116.525         74.139                 102.359        32.308.180           32.749.796                  receivables
                                  Investasi bersih dalam                                                                                                                                                    Net investment finance
                                    sewa pembiayaan                       5.077              9.599              66.330         77.552                  34.129         5.296.555            5.489.242                       leases
                                  Tagihan akseptasi                           -          1.415.573           2.262.557         13.466                       -        11.102.292           14.793.888       Acceptance receivables
                                  Aset lain-lain                                                                                                                                                                       Other assets
                                    Pendapatan yang masih
                                      akan diterima                   5.818.797          1.747.831           1.552.173        237.239                 289.233            612.907          10.258.180             Accrued income
                                    Piutang transaksi                                                                                                                                                           Receivables from
                                      nasabah                                   -           27.808                   -                 -                    -          2.941.328           2.969.136     customer transactions
                                    Tagihan terkait dengan                                                                                                                                                      Receivables from
                                      transaksi                                                                                                                                                          transactions related to
                                      ATM dan kartu kredit                      -                   -                -                 -                    -          7.379.393           7.379.393       ATM and credit card
                                    Tagihan kepada                                                                                                                                                                 Receivables to
                                      pemegang polis                            -          296.997                   -                 -                    -                       -        296.997              policyholders
                                    Penjualan efek-efek                                                                                                                                                          Receivable from
                                      yang masih                                                                                                                                                            sales of marketable
                                       harus diterima                           -          570.711                   -                 -                    -                       -        570.711                  securities
                                    Tagihan atas obligasi                                                                                                                                                       Receivables from
                                      pemerintah yang                           -        1.391.944                   -                 -                    -                       -      1.391.944         government bonds
                                      diagunkan                                                                                                                                                            pledged as collateral
                                                                   398.705.632        318.342.176          358.372.439    143.114.293        289.199.525           573.688.847          2.081.422.912
                           *)        Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                                *)         Segments of risk management are classified into Corporate, Commercial,
                                     Retail, dan Syariah.                                                                                                Retail, and Sharia.
                           **)       Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-                              **)        Excluding marketable securities from investment from the Subsidiary’s unit-
                                     link Entitas Anak yang tidak memiliki risiko kredit.                                                                link policyholders with no credit risk.
                           ***)      Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                                ***)       Excluding government bonds from investments from Subsidiary’s unit-link
                                     polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                     policyholders with no credit risk.
                           ****)     Lain-lain termasuk perdagangan, restoran dan hotel, tambang, pengangkutan,
                                     pergudangan dan komunikasi, konstruksi, listrik, gas dan air dan jasa sosial.
                                                                                                                                              ****)      Others including trading, restaurant and hotel, mining, transportation,
                                                                                                                                                         warehousing and communication, construction, gas and water, and social
                                                                                                                                                         services.



1442 PT Bank Mandiri (Persero) Tbk                                                                                         375
Page 936
     CORPORATE                                       ESG COMMITMENTS                                            SOCIAL AND ENVIRONMENTAL                                                     LAPORAN
                                                                                                                                                                                               Financial
     GOVERNANCE                                      & PRACTICES                                                RESPONSIBILITY                                                               KEUANGAN   2023
                                                                                                                                                                                               Statements 2023


                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                         (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                                 62. RISK MANAGEMENT (continued)
    A.    Risiko kredit (lanjutan)                                                                                   A.       Credit risk (continued)
    (i)   Eksposur      maksimum risiko kredit tanpa                                                                 (i)      Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                                         considering collateral held and other credit
          lainnya (lanjutan)                                                                                                  supports (continued)
          Konsentrasi risiko aset keuangan                                                     dengan                         Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                                                   risk exposure (continued)
          b)          Sektor industri (lanjutan)                                                                              b)     Industry sectors (continued)
                                                                                                                  2022
                                                                             Lembaga
                                                                            keuangan/
                                                                               Bank/                                               Jasa dunia
                                                                             Financial                                               usaha/
                                                    Pemerintah/             institution/         Industri/      Pertanian/          Business               Lain-lain ****)/
                                                    Government                 Bank            Manufacturing    Agriculture         services                Others****)              Total


                      Giro pada                                                                                                                                                                       Current accounts with
                        Bank Indonesia                                  -    107.349.158                    -                 -                    -                          -    107.349.158           Bank Indonesia
                      Giro pada                                                                                                                                                                       Current accounts with
                        bank lain                                       -     47.809.985                    -                 -                        -                      -     47.809.985               other banks
                      Penempatan pada                                                                                                                                                                        Placement with
                        Bank Indonesia                                                                                                                                                                 Bank Indonesia and
                        dan bank lain                                   -     95.324.112                    -                 -                    -                          -     95.324.112                 other banks
                      Efek-efek **)                                                                                                                                                                  Marketable securities**)
                        Pemerintah                                                                                                                                                                            Government
                          Diukur pada nilai wajar                                                                                                                                                     Fair value through
                           melalui laba rugi            10.089.149                         -                -                 -                    -                          -     10.089.149            profit or loss
                          Diukur pada nilai wajar                                                                                                                                                     Fair value through
                           melalui penghasilan                                                                                                                                                    other comprehensive
                           komprehensif lain              1.117.351                        -                -                 -                    -                          -      1.117.351                  income
                          Diukur pada biaya
                            perolehan
                            diamortisasi                    720.769                        -                -                 -                    -                          -        720.769            Amortised cost
                          Diukur pada biaya
                           perolehan                                -                      -                -                 -                    -                          -               -                    At cost
                        Non-Pemerintah                                                                                                                                                                    Non Government
                          Diukur pada nilai wajar                                                                                                                                                     Fair value through
                           melalui laba rugi                        -            815.982              49.622               15                 56.103                107.365          1.029.087             profit or loss
                          Diukur pada nilai wajar                                                                                                                                                     Fair value through
                            melalui penghasilan                                                                                                                                                   other comprehensive
                            komprehensif lain                       -         21.334.966             193.713         383.126                 535.857             5.743.798          28.191.460                   income
                          Diukur pada biaya
                            perolehan
                            diamortisasi                            -          2.235.973             830.276         895.000              1.822.036              1.470.749           7.254.034            Amortised cost
                          Diukur pada biaya
                            perolehan                               -         10.091.178              75.000          85.000                 213.800                784.000         11.248.978                 At cost
                      Obligasi pemerintah***)                                                                                                                                                          Government Bonds***)
                        Diukur pada nilai wajar                                                                                                                                                        Fair value through
                          melalui laba rugi               6.972.279                        -                -                 -                    -                          -      6.972.279             profit or loss
                        Diukur pada nilai wajar                                                                                                                                                        Fair value through
                          melalui penghasilan                                                                                                                                                      other comprehensive
                          komprehensif lain             92.532.086                         -                -                 -                    -                          -     92.532.086                   income
                        Diukur pada biaya
                          perolehan
                          diamortisasi                 180.578.053                         -                -                 -                    -                          -    180.578.053             Amortised cost
                        Diukur pada biaya
                          perolehan                     44.213.180                         -                -                 -                    -                          -     44.213.180                      At cost
                      Tagihan lainnya -                                                                                                                                                                   Other receivables-
                        transaksi perdagangan                           -      1.468.118                    -                 -                    -            32.325.146          33.793.264         trade transactions
                      Tagihan atas efek-efek                                                                                                                                                          Securities purchased
                        yang dibeli dengan                                                                                                                                                                   under resale
                        janji dijual kembali                            -     11.700.209                    -                 -                5.780                     -          11.705.989                agreements
                      Tagihan derivatif                                 -         24.534                    -                 -                    -             2.227.607           2.252.141      Derivatives receivables
                      Kredit yang diberikan dan                                                                                                                                                            Loans and sharia
                        piutang/pembiayaan                                                                                                                                                                    receivables/
                        syariah*)                                                                                                                                                                               financing*)
                        Korporasi                       36.803.888             4.123.179          215.975.575     27.974.352         90.085.767                38.632.668          413.595.429                   Corporate
                        Komersial                                -             1.447.934           67.193.073     45.854.201         54.012.838                25.129.704          193.637.750                Commercial
                        Retail                                   -                63.591           19.425.839     37.036.601         92.308.475               210.325.192          359.159.698                       Retail
                        Syariah                         15.932.932             5.089.744           10.762.989     14.278.885         19.037.076               141.105.379          206.207.005                      Sharia
                      Piutang pembiayaan                                                                                                                                                               Consumer financing
                        konsumen                             60.292              103.275             183.382          68.042                 201.907            23.140.829          23.757.727                 receivables
                      Investasi bersih dalam                                                                                                                                                         Net investment finance
                        sewa pembiayaan                      11.533                4.439              156.104         99.729                 134.199             5.466.556           5.872.560                      leases
                      Tagihan akseptasi                           -            1.933.290            2.944.507         95.976                       -             6.807.808          11.781.581      Acceptance receivables
                      Aset lain-lain                                                                                                                                                                            Other assets
                        Pendapatan yang masih
                          akan diterima                   1.140.261              192.703             411.544         151.247                 269.463             7.367.275           9.532.493            Accrued income
                        Piutang transaksi                                                                                                                                                                Receivables from
                          nasabah                                   -            174.015                    -                 -                    -             2.168.621           2.342.636    customer transactions
                        Tagihan terkait dengan                                                                                                                                                           Receivables from
                          transaksi                                                                                                                                                               transactions related to
                          ATM dan kartu kredit                          -                  -                -                 -                    -             2.080.874           2.080.874      ATM and credit card
                        Tagihan kepada                                                                                                                                                                      Receivables to
                          pemegang polis                            -            224.690                    -                 -                    -                          -        224.690             policyholders
                        Penjualan efek-efek                                                                                                                                                               Receivable from
                          yang masih                                                                                                                                                                 sales of marketable
                           harus diterima                               -        231.650                    -                 -                    -                          -        231.650                 securities
                        Tagihan atas obligasi                                                                                                                                                            Receivables from
                          pemerintah yang                                                                                                                                                             government bonds
                          diagunkan                                     -      3.757.955                    -                 -                    -                          -      3.757.955      pledged as collateral
                                                       390.171.773           315.500.680          318.201.624    126.922.174        258.683.301               504.883.571         1.914.363.123

               *)        Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                                   *)         Segments of risk management are classified into Corporate, Commercial,
                         Retail, dan Syariah.                                                                                                   Retail and Sharia.
               **)       Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-                                 **)        Excluding marketable securities from investment from the Subsidiary’s unit-
                         link Entitas Anak yang tidak memiliki risiko kredit.                                                                   link policyholders with no credit risk.
               ***)      Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                                   ***)       Excluding government bonds from investments from Subsidiary’s unit-link
                         polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                        policyholders with no credit risk.
               ****)     Lain-lain termasuk perdagangan, restoran dan hotel, tambang, pengangkutan,
                         pergudangan dan komunikasi, konstruksi, listrik, gas dan air dan jasa sosial.
                                                                                                                                     ****)      Others including trading, restaurant and hotel, mining, transportation,
                                                                                                                                                warehousing and communication, construction, gas and water, and social
                                                                                                                                                services.




                                                                                                                  376                                                                         ANNUAL REPORT 2023                1443
Page 937
            MAIN                                 MANAGEMENT                                         COMPANY                                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                            PROFILE                                                 ANALYSIS


                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                        NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                               FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in millions of Rupiah, unless otherwise stated)

            62. MANAJEMEN RISIKO (lanjutan)                                                              62. RISK MANAGEMENT (continued)

                A.    Risiko kredit (lanjutan)                                                                A.       Credit risk (continued)

                (i)   Eksposur      maksimum risiko kredit tanpa                                              (i)      Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                                      considering collateral held and other credit
                      lainnya (lanjutan)                                                                               supports (continued)

                      Konsentrasi risiko aset keuangan                                   dengan                        Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                                                risk exposure (continued)

                      b)   Sektor industri (lanjutan)                                                                  b)     Industry sectors (continued)

                           Eksposur risiko kredit atas rekening                                                               Credit risk exposure relating to administrative
                           administratif adalah sebagai berikut:                                                              accounts items are as follows:
                                                                                                           2023
                                                                          Lembaga
                                                                         keuangan/
                                                                            Bank/                                           Jasa dunia
                                                                          Financial                                           usaha/
                                                       Pemerintah/       institution/      Industri/     Pertanian/          Business          Lain-lain ****)/
                                                       Government           Bank         Manufacturing   Agriculture         services           Others****)        Total


                           Rekening administratif                                                                                                                                 Administrative accounts
                            Bank garansi yang
                              diterbitkan                     3.750        30.646.861       33.567.311        560.228                 2.919        49.819.384     114.600.453   Bank guarantees issued
                            Fasilitas kredit yang
                              diberikan yang
                              belum digunakan*)          25.393.231         2.337.331        4.726.587      1.950.683                      -       52.569.134      86.976.966    Unused loan facilities*)
                            Letter of credit yang
                              tidak dapat dibatalkan                                                                                                                            Outstanding irrevocable
                              yang masih berjalan                    -        650.808        2.496.570        147.711              4.056.376       13.530.507      20.881.972          letter of credit
                            Standby letter of credit                 -        299.776        2.879.219         18.443              1.988.446        9.573.398      14.759.282    Standby letter of credit

                                                         25.396.981        33.934.776       43.669.687      2.677.065              6.047.741     125.492.423      237.218.673


                                                                                                           2022
                                                                          Lembaga
                                                                         keuangan/
                                                                            Bank/                                           Jasa dunia
                                                                          Financial                                           usaha/
                                                       Pemerintah/       institution/      Industri/     Pertanian/          Business          Lain-lain ****)/
                                                       Government           Bank         Manufacturing   Agriculture         services           Others****)        Total


                           Rekening administratif                                                                                                                                Administrative accounts
                            Bank garansi yang                                                                                                                                   Bank guarantees issued
                              diterbitkan                     5.651        28.553.435       37.980.468        432.204               128.209        43.906.540     111.006.507
                            Fasilitas kredit yang
                              diberikan yang
                              belum digunakan*)          19.019.863          6.342.239       5.598.095      2.019.315                38.300        50.887.580      83.905.392    Unused loan facilities*)
                            Letter of credit yang
                              tidak dapat dibatalkan                                                                                                                            Outstanding irrevocable
                              yang masih berjalan                    -        444.973        7.666.483        614.352                562.288       19.029.185      28.317.281          letter of credit
                            Standby letter of credit                 -        195.251        2.902.534              -              1.716.834        7.015.693      11.830.312    Standby letter of credit


                                                         19.025.514        35.535.898       54.147.580      3.065.871              2.445.631     120.838.998      235.059.492


                           *)     Termasuk fasilitas kredit committed dan uncommitted kartu                                   *)        Include unused committed and uncommitted credit card facilities
                                  kredit yang belum digunakan.
                           **)    Lain-lain termasuk perdagangan, restoran dan hotel, tambang,                                **)       Others including trading, restaurant and hotel, mining,
                                  pengangkutan, pergudangan dan komunikasi, konstruksi,                                                 transportation, warehousing, construction, gas and water, and
                                  listrik, gas dan air, dan jasa sosial.                                                                social services




1444 PT Bank Mandiri (Persero) Tbk                                                                         377
Page 938
     CORPORATE                                  ESG COMMITMENTS                                          SOCIAL AND ENVIRONMENTAL                                              LAPORAN
                                                                                                                                                                                 Financial
     GOVERNANCE                                 & PRACTICES                                              RESPONSIBILITY                                                        KEUANGAN   2023
                                                                                                                                                                                 Statements 2023


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                         62. RISK MANAGEMENT (continued)
    A.    Risiko kredit (lanjutan)                                                                            A.       Credit risk (continued)
    (i)   Eksposur      maksimum risiko kredit tanpa                                                          (i)     Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                                 considering collateral held and other credit
          lainnya (lanjutan)                                                                                          supports (continued)
          Konsentrasi risiko aset keuangan                                         dengan                             Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                                           risk exposure (continued)
          c) Kualitas kredit dari aset keuangan                                                                       c) Credit quality of financial assets
             Pada tanggal 31 Desember 2023 dan 2022,                                                                       As of 31 December 2023 and 2022, exposure
             eksposur risiko kredit atas aset keuangan                                                                     to credit risk on financial assets are as follows:
             terbagi atas:
                                                                                                             2023
                                                     Belum jatuh
                                                     tempo atau     Telah jatuh
                                                         tidak     tempo tetapi
                                                     mengalami          tidak                                                           Cadangan
                                                     penurunan      mengalami                                                           kerugian
                                                         nilai/     penurunan                   Mengalami                              penurunan
                                                     Neither past       nilai/                  penurunan                                 nilai/
                                                          due      Past due but                   nilai/                               Impairment                Neto/
                                                    nor impaired1) not impaired1)               Impaired2)             Total            provision                 Net

             Giro pada                                                                                                                                                                 Current account with
                Bank Indonesia                        108.605.322                          -                  -      108.605.322                        -     108.605.322                 Bank Indonesia
             Giro pada                                                                                                                                                                 Current account with
                bank lain                               36.606.090                         -                  -       36.606.090              (32.205)         36.573.885                     other bank
             Penempatan pada                                                                                                                                                                 Placement with
                Bank Indonesia                                                                                                                                                            Bank Indonesia
                dan bank lain                           73.888.157                         -                  -       73.888.157                  (957)        73.887.200                and others bank **)
             Efek-efek **)                                                                                                                                                           Marketable securities
             Pemerintah                                                                                                                                                                         Government
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui laba rugi                     9.613.295                         -                  -        9.613.295                        -        9.613.295                  profit or loss
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui penghasilan                                                                                                                                            other comprehensive
                   komprehensif lain                     1.425.783                         -                  -        1.425.783                        -        1.425.783                      income
                Diukur pada biaya
                   perolehan
                   diamortisasi                             690.638                        -                  -          690.638                        -          690.638                Amortised cost
             Non-pemerintah                                                                                                                                                                Non-government
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui laba rugi                     9.757.095                         -                  -        9.757.095               (5.065)           9.752.030                  profit or loss
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui penghasilan                                                                                                                                            other comprehensive
                   komprehensif lain                    47.358.521                         -            39.496        47.398.017              (14.937)         47.383.080                       income
                Diukur pada biaya
                   perolehan
                   diamortisasi                          5.210.062                         -             7.675         5.217.737              (17.070)           5.200.667                  Amortised cost
                Diukur pada biaya
                   perolehan                             1.201.883                         -            99.000         1.300.883            (114.730)            1.186.153                         At cost
             Obligasi pemerintah ***)                                                                                                                                                 Government Bonds***)
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui laba rugi                    12.078.509                         -                  -       12.078.509                        -      12.078.509                   profit or loss
                Diukur pada nilai wajar                                                                                                                                               Fair value through
                   melalui penghasilan                                                                                                                                            other comprehensive
                   komprehensif lain                    90.640.924                         -                  -       90.640.924                        -      90.640.924                       income
                Diukur pada biaya
                   perolehan
                   diamortisasi                       163.194.756                          -                  -      163.194.756                        -     163.194.756                   Amortised cost
                Diukur pada biaya
                   perolehan                            34.541.812                         -                  -       34.541.812                        -      34.541.812                          At cost
             Tagihan lainnya -                                                                                                                                                             Other receivables
                transaksi perdagangan                   20.174.990             4.610.533              1.259.030       26.044.553          (1.494.653)          24.549.900              trade transactions
             Tagihan atas efek-efek                                                                                                                                                    Securities purchased
                yang dibeli dengan                                                                                                                                                           under resale
                janji dijual kembali                    22.692.928                         -                  -       22.692.928                        -      22.692.928                     agreements
             Tagihan derivatif                           1.994.931                         -                  -        1.994.931                        -       1.994.931            Derivatives receivables
             Kredit yang diberikan                                                                                                                                                                Loans and
                dan piutang/                                                                                                                                                                        sharia
                pembiayaan syariah*)                                                                                                                                               receivables/financing*)
                Korporasi                             471.110.250             1.500.901           16.043.424         488.654.575        (16.752.562)          471.902.013                       Corporate
                Komersial                             226.464.604             3.258.298            4.122.252         233.845.154        (12.485.278)          221.359.876                    Commercial
                Retail                                380.194.807            12.952.603            6.277.519         399.424.929        (14.185.550)          385.239.379                           Retail
                Syariah                               216.034.831             1.703.542           20.169.164         237.907.537         (9.675.229)          228.232.308                          Sharia
             Piutang pembiayaan                                                                                                                                                          Consumer financing
                konsumen                                30.685.548             1.718.882               345.366        32.749.796            (713.044)          32.036.752                     receivables
             Investasi bersih dalam                                                                                                                                                  Net Investment finance
                sewa pembiayaan                          5.257.583               212.580                19.079         5.489.242             (70.170)           5.419.072                          leases
             Tagihan akseptasi                          14.793.888                     -                     -        14.793.888            (122.212)          14.671.676           Acceptance receivables
             Aset lain-lain                                                                                                                                                                     Other assets
                Pendapatan yang masih
                   akan diterima                        10.258.180                         -                  -       10.258.180                        -      10.258.180         Accrued income
                Piutang transaksi                                                                                                                                                Receivables from
                   nasabah                               2.959.133                         -            10.003         2.969.136               (8.652)           2.960.484 customer transactions
                Tagihan terkait dengan                                                                                                                                           Receivables from
                   transaksi ATM dan                                                                                                                                       transactions related to
                   kartu kredit                          7.379.393                         -                  -        7.379.393                        -        7.379.393   ATM and credit card
                Tagihan kepada                                                                                                                                                       Receivable to
                   pemegang polis                           296.997                        -                  -          296.997                        -          296.997          policyholders
                Penjualan efek-efek yang                                                                                                                                           Sale of accrued
                   masih harus diterima                     570.711                        -                  -          570.711                        -          570.711 marketable securities
                Tagihan atas obligasi                                                                                                                                            Receivables from
                   pemerintah yang                                                                                                                                             government bonds
                   diagunkan                             1.391.944                         -                  -        1.391.944                        -        1.391.944 pledged as collateral
                                                    2.007.073.566            25.957.339           48.392.008        2.081.422.912       (55.692.313) 2.025.730.599

             *)     Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                                  *)     Segments of risk management are classified into Corporate, Commercial,
                    Retail, dan Syariah.                                                                                              Retail, and Sharia.
             **)    Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-link                            **)    Excluding marketable securities from investment from the Subsidiary’s unit-
                    Entitas Anak yang tidak memiliki risiko kredit.                                                                   link policyholders with no credit risk.
             ***)   Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                                  ***)   Excluding government bonds from investments from Subsidiary’s unit-link
                    polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                   policyholders with no credit risk.
             1)     Merupakan kredit yang diberikan yang dikategorikan sebagai stage 1 dan 2 sesuai                            1)     Including loans that are categorized as stages 1 and 2 in accordance with
                    dengan PSAK 71 serta pembiayaan syariah dari Entitas Anak yang bergerak                                           SFAS No. 71 and sharia financing from Subsidiary engaged in sharia
                    dalam bidang perbankan syariah dimana cadangan kerugian penurunan nilai                                           banking where allowance for impairment losses is calculated based on
                    dihitung berdasarkan Peraturan Otoritas Jasa Keuangan dan PSAK 102 (Revisi                                        Financial Services Authority Regulationss and SFAS No. 102 (Revised
                    2019).                                                                                                            2019).
             2)     Termasuk dalam kategori “mengalami penurunan nilai” adalah kredit yang                                     2)     Included in “impaired” portfolio are loans classified as stage 3 in accordance
                    dikategorikan sebagai stage 3 sesuai dengan PSAK 71 “Instrumen Keuangan”                                          with SFAS No. 71 ”Financial Instrument”, loans with non performing loan
                    serta kredit dengan kolektibilitas non-performing loan dan kredit yang dihitung                                   collectibility and loans evaluated by using individual and collective
                    secara individual yang diberikan oleh Entitas Anak yang bergerak dalam bidang                                     assessment of Subsidiary engaged in sharia banking amounted to
                    perbankan syariah senilai Rp20.169.164 dengan cadangan kerugian penurunan                                         Rp20,169,164 with allowance for impairment losses amounted to
                    nilai senilai Rp6.841.842, dimana cadangan kerugian penurunan nilai dihitung                                      Rp6,841,842 which is calculated based on Financial Services Authority
                    berdasarkan Peraturan Otoritas Jasa Keuangan dan PSAK 102 (Revisi 2019)                                           Regulations and SFAS No. 102 (Revised 2019) (Note 2c.(H).(2) and Note
                    (Catatan 2c.(H).(2) dan Catatan 2c.(H).(5)).                                                                      2c.(H).(5)).



                                                                                                           378                                                                   ANNUAL REPORT 2023                    1445
Page 939
            MAIN                                     MANAGEMENT                                                   COMPANY                                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                               REPORTS                                                      PROFILE                                                 ANALYSIS


                                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                         62. RISK MANAGEMENT (continued)
                A.    Risiko kredit (lanjutan)                                                                            A.         Credit risk (continued)
                (i)   Eksposur      maksimum risiko kredit tanpa                                                          (i)       Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                                                   considering collateral held and other credit
                      lainnya (lanjutan)                                                                                            supports (continued)
                      Konsentrasi risiko aset keuangan                                         dengan                               Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                                                             risk exposure (continued)
                      c) Kualitas kredit dari aset keuangan (lanjutan)                                                              c) Credit quality of financial assets (continued)
                                                                                                                         2022
                                                                 Belum jatuh
                                                                 tempo atau     Telah jatuh
                                                                     tidak     tempo tetapi
                                                                 mengalami          tidak                                                             Cadangan
                                                                 penurunan      mengalami                                                             kerugian
                                                                     nilai/     penurunan                   Mengalami                                penurunan
                                                                 Neither past       nilai/                  penurunan                                   nilai/
                                                                      due      Past due but                   nilai/                                 Impairment                Neto/
                                                                nor impaired1) not impaired1)               Impaired2)               Total            provision                 Net

                         Giro pada                                                                                                                                                                   Current account with
                            Bank Indonesia                        107.349.158                          -                  -        107.349.158                        -     107.349.158                 Bank Indonesia
                         Giro pada                                                                                                                                                                   Current account with
                            bank lain                               47.809.985                         -                  -         47.809.985              (20.285)         47.789.700                     other bank
                         Penempatan pada                                                                                                                                                                   Placement with
                            Bank Indonesia                                                                                                                                                              Bank Indonesia
                            dan bank lain                           95.324.112                         -                  -         95.324.112               (3.601)         95.320.511                and others bank
                         Efek-efek **)                                                                                                                                                             Marketable securities**)
                         Pemerintah                                                                                                                                                                           Government
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui laba rugi                    10.089.149                         -                  -         10.089.149                        -      10.089.149                   profit or loss
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui penghasilan                                                                                                                                              other comprehensive
                               komprehensif lain                     1.117.351                         -                  -          1.117.351                        -        1.117.351                      income
                            Diukur pada biaya
                               perolehan
                               diamortisasi                             720.769                        -                  -            720.769                        -          720.769                Amortised cost
                         Non-pemerintah                                                                                                                                                                  Non-government
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui laba rugi                     1.029.087                         -                  -          1.029.087                  (416)          1.028.671                  profit or loss
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui penghasilan                                                                                                                                              other comprehensive
                               komprehensif lain                    28.191.460                         -                  -         28.191.460               (1.814)         28.189.646                       income
                            Diukur pada biaya
                               perolehan
                               diamortisasi                          7.254.034                         -                  -          7.254.034              (21.427)           7.232.607                  Amortised cost
                            Diukur pada biaya
                               perolehan                            11.248.978                         -                  -         11.248.978              (17.534)         11.231.444                          At cost
                         Obligasi pemerintah ***)                                                                                                                                                   Government Bonds***)
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui laba rugi                     6.972.279                         -                  -          6.972.279                        -        6.972.279                  profit or loss
                            Diukur pada nilai wajar                                                                                                                                                 Fair value through
                               melalui penghasilan                                                                                                                                              other comprehensive
                               komprehensif lain                    92.532.086                         -                      -     92.532.086                        -      92.532.086                       income
                            Diukur pada biaya
                               perolehan
                               diamortisasi                       180.578.053                          -                  -        180.578.053                        -     180.578.053                   Amortised cost
                            Diukur pada biaya
                               perolehan                            44.213.180                         -                  -         44.213.180                        -      44.213.180                          At cost
                         Tagihan lainnya -                                                                                                                                                               Other receivables
                            transaksi perdagangan                   26.623.921             5.886.049              1.283.294         33.793.264          (1.604.705)          32.188.559              trade transactions
                         Tagihan atas efek-efek                                                                                                                                                      Securities purchased
                            yang dibeli dengan                                                                                                                                                             under resale
                            janji dijual kembali                    11.705.989                         -                  -         11.705.989                        -      11.705.989                     agreements
                         Tagihan derivatif                           2.252.141                         -                  -          2.252.141                        -       2.252.141            Derivatives receivables
                         Kredit yang diberikan                                                                                                                                                                  Loans and
                            dan piutang/                                                                                                                                                                          sharia
                            pembiayaan syariah*)                                                                                                                                                 receivables/financing*)
                            Korporasi                             409.062.600                      -           4.532.829           413.595.429        (20.651.396)          392.944.033                       Corporate
                            Komersial                             181.279.431              2.698.316           9.660.003           193.637.750        (20.949.958)          172.687.792                    Commercial
                            Retail                                344.821.806              9.642.196           4.695.696           359.159.698        (13.824.529)          345.335.169                           Retail
                            Syariah                               180.532.461              1.126.868          24.547.676           206.207.005         (9.186.762)          197.020.243                          Sharia
                         Piutang pembiayaan                                                                                                                                                            Consumer financing
                            konsumen                                22.426.377             1.127.591               203.759          23.757.727            (610.361)          23.147.366                     receivables
                         Investasi bersih dalam                                                                                                                                                    Net Investment finance
                            sewa pembiayaan                          5.676.952               168.819                26.789           5.872.560            (139.173)           5.733.387                          leases
                         Tagihan akseptasi                          11.779.066                     -                 2.515          11.781.581             (61.963)          11.719.618            Acceptance receivables
                         Aset lain-lain                                                                                                                                                                       Other assets
                            Pendapatan yang masih
                               akan diterima                         9.532.493                         -                  -          9.532.493                        -        9.532.493        Accrued income
                            Piutang transaksi                                                                                                                                                  Receivables from
                               nasabah                               2.336.220                         -             6.416           2.342.636               (8.386)           2.334.250 customer transactions
                            Tagihan terkait dengan                                                                                                                                             Receivables from
                               transaksi ATM dan                                                                                                                                         transactions related to
                               kartu kredit                          2.080.874                         -                  -          2.080.874                        -        2.080.874   ATM and credit card
                            Tagihan kepada                                                                                                                                                         Receivable to
                               pemegang polis                           224.690                        -                  -            224.690                        -          224.690          policyholders
                            Penjualan efek-efek yang                                                                                                                                             Sale of accrued
                               masih harus diterima                     231.650                        -                  -            231.650                        -          231.650 marketable securities
                            Tagihan atas obligasi                                                                                                                                              Receivables from
                               pemerintah yang                                                                                                                                               government bonds
                               diagunkan                             3.757.955                         -                  -          3.757.955                        -        3.757.955 pledged as collateral
                                                                1.848.754.307            20.649.839           44.958.977          1.914.363.123       (67.102.310) 1.847.260.813
                         *)     Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi, Komersial,                                    *)     Segments of risk management are classified into Corporate, Commercial,
                                Retail, dan Syariah.                                                                                                Retail, and Sharia.
                         **)    Tidak termasuk efek-efek yang merupakan investasi dari pemegang polis unit-link                              **)    Excluding marketable securities from investment from the Subsidiary’s unit-
                                Entitas Anak yang tidak memiliki risiko kredit.                                                                     link policyholders with no credit risk.
                         ***)   Tidak termasuk obligasi pemerintah yang merupakan investasi dari pemegang                                    ***)   Excluding government bonds from investments from Subsidiary’s unit-link
                                polis unit-link Entitas Anak yang tidak memiliki risiko kredit.                                                     policyholders with no credit risk.
                         1)     Merupakan kredit yang diberikan yang dikategorikan sebagai stage 1 dan 2 sesuai                              1)     Including loans that are categorized as stages 1 and 2 in accordance with
                                dengan PSAK 71 serta pembiayaan syariah dari Entitas Anak yang bergerak                                             SFAS No. 71 and sharia financing from Subsidiary engaged in sharia
                                dalam bidang perbankan syariah dimana cadangan kerugian penurunan nilai                                             banking where allowance for impairment losses is calculated based on
                                dihitung berdasarkan Peraturan Otoritas Jasa Keuangan dan PSAK 102 (Revisi                                          Financial Services Authority Regulationss and SFAS No. 102 (Revised
                                2019).                                                                                                              2019).
                         2)     Termasuk dalam kategori “mengalami penurunan nilai” adalah kredit yang                                       2)     Included in “impaired” portfolio are loans classified as stage 3 in accordance
                                dikategorikan sebagai stage 3 sesuai dengan PSAK 71 “Instrumen Keuangan”                                            with SFAS No. 71 ”Financial Instrument”, loans with non performing loan
                                serta kredit dengan kolektibilitas non-performing loan dan kredit yang dihitung                                     collectibility and loans evaluated by using individual and collective
                                secara individual yang diberikan oleh Entitas Anak yang bergerak dalam bidang                                       assessment of Subsidiary engaged in sharia banking amounted to
                                perbankan syariah senilai Rp24.547.676 dengan cadangan kerugian penurunan                                           Rp24,547,676 with allowance for impairment losses amounted to
                                nilai senilai Rp6.936.588, dimana cadangan kerugian penurunan ilai dihitung                                         Rp6,936,588 which is calculated based on Financial Services Authority
                                berdasarkan Peraturan Otoritas Jasa Keuangan dan PSAK 102 (Revisi 2019)                                             Regulations and SFAS No. 102 (Revised 2019) (Note 2c.(H).(2) and Note
                                (Catatan 2c.(H).(2) dan Catatan 2c.(H).(5)).                                                                        2c.(H).(5)).




1446 PT Bank Mandiri (Persero) Tbk                                                                                     379
Page 940
     CORPORATE                             ESG COMMITMENTS                              SOCIAL AND ENVIRONMENTAL                                       LAPORAN
                                                                                                                                                         Financial
     GOVERNANCE                            & PRACTICES                                  RESPONSIBILITY                                                 KEUANGAN   2023
                                                                                                                                                         Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                  (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                        62. RISK MANAGEMENT (continued)
    A.    Risiko kredit (lanjutan)                                                             A.        Credit risk (continued)
    (i)   Eksposur      maksimum risiko kredit tanpa                                           (i)       Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                    considering collateral held and other credit
          lainnya (lanjutan)                                                                             supports (continued)
          Konsentrasi risiko aset keuangan                               dengan                          Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                              risk exposure (continued)
          c)   Kualitas kredit dari aset keuangan (lanjutan)                                             c)      Credit quality of financial assets (continued)

               Pada tanggal 31 Desember 2023 dan 2022,                                                           As of 31 December 2023 and 2022, exposure
               eksposur risiko kredit atas rekening                                                              to credit risk on administrative accounts are as
               administratif terbagi atas:                                                                       follows:
                                                                                                  2023
                                                   Belum jatuh
                                                    tempo atau       Telah jatuh
                                                       tidak        tempo tetapi
                                                    mengalami           tidak                                             Cadangan
                                                    penurunan        mengalami                                            kerugian
                                                       nilai/        penurunan      Mengalami                            penurunan
                                                   Neither past         nilai/      penurunan                               nilai/
                                                        due         Past due but       nilai/                            Impairment        Neto/
                                                   nor impaired     not impaired     Impaired                 Total       provision         Net


               Rekening administratif                                                                                                                        Administrative accounts
                  Bank garansi yang diterbitkan      113.280.206               -      1.320.247          114.600.453         (834.277)   113.766.176       Bank guarantees issued
                  Fasilitas kredit yang
                    diberikan yang
                    belum digunakan*)                 86.395.292         559.040        22.634            86.976.966         (228.713)    86.748.253         Unused loan facilities*)
                  Letter of credit yang tidak
                    dapat dibatalkan yang                                                                                                                   Outstanding irrevocable
                    masih berjalan                    20.589.092               -       292.880            20.881.972          (54.931)    20.827.041               letter of credit
                  Standby letter of credit            14.759.282               -             -            14.759.282          (25.837)    14.733.445         Standby letter of credit

                                                     235.023.872         559.040      1.635.761          237.218.673       (1.143.758)   236.074.915


                                                                                             2022
                                                  Belum jatuh
                                                   tempo atau       Telah jatuh
                                                      tidak        tempo tetapi
                                                   mengalami           tidak                                             Cadangan
                                                   penurunan        mengalami                                            kerugian
                                                      nilai/        penurunan      Mengalami                            penurunan
                                                  Neither past         nilai/      penurunan                               nilai/
                                                       due         Past due but       nilai/                            Impairment       Neto/
                                                  nor impaired     not impaired     Impaired             Total           provision        Net


               Rekening administratif                                                                                                                        Administrative accounts
                  Bank garansi yang diterbitkan      110.774.344               -       232.163           111.006.507       (1.667.398)   109.339.109       Bank guarantees issued
                  Fasilitas kredit yang
                    diberikan yang
                    belum digunakan*)                 83.274.830         560.464        70.098            83.905.392         (278.772)    83.626.620         Unused loan facilities*)
                  Letter of credit yang tidak
                    dapat dibatalkan yang                                                                                                                   Outstanding irrevocable
                    masih berjalan                    28.314.070               -         3.211            28.317.281         (102.498)    28.214.783               letter of credit
                  Standby letter of credit            11.830.312               -             -            11.830.312          (24.761)    11.805.551         Standby letter of credit

                                                     234.193.556         560.464       305.472           235.059.492       (2.073.429)   232.986.063

               *)     Termasuk fasilitas kredit committed dan uncommitted kartu                                  *)    Include unused committed and uncommitted credit card
                      kredit yang belum digunakan.                                                                     facilities




                                                                                           380                                                          ANNUAL REPORT 2023              1447
Page 941
            MAIN                             MANAGEMENT                         COMPANY                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                            PROFILE                               ANALYSIS


                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                       62. RISK MANAGEMENT (continued)

                A.    Risiko kredit (lanjutan)                                         A.    Credit risk (continued)

                (i)   Eksposur      maksimum risiko kredit tanpa                       (i)   Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                            considering collateral held and other credit
                      lainnya (lanjutan)                                                     supports (continued)

                      Konsentrasi risiko aset keuangan               dengan                  Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                      risk exposure (continued)

                      c)   Kualitas kredit dari aset keuangan (lanjutan)                     c)     Credit quality of financial assets (continued)

                           Pada tanggal 31 Desember 2023 dan 2022,                                  As of 31 December 2023 and 2022, details of
                           rincian kualitas kredit dari aset keuangan                               the quality of financial assets that are neither
                           yang belum jatuh tempo atau tidak mengalami                              past due or nor impaired based on internal
                           penurunan nilai berdasarkan rating internal                              ratings are as follows:
                           sebagai berikut:
                                                                                    2023
                                                               Tidak dalam         Dalam
                                                              pengawasan1)/     Pengawasan2)/
                                                                Not under          Under
                                                               monitoring1)      Monitoring2)           Total

                           Aset                                                                                                                       Assets
                           Giro pada                                                                                                Current accounts with
                            Bank Indonesia                       108.605.322                    -       108.605.322                       Bank Indonesia
                           Giro pada                                                                                                Current accounts with
                            bank lain                             36.606.090                    -        36.606.090                          other banks
                           Penempatan pada                                                                                                 Placement with
                            Bank Indonesia dan                                                                                           Bank Indonesia
                            bank lain                             73.888.157                    -        73.888.157                      and other banks
                           Efek-efek **)                                                                                           Marketable securities **)
                            Pemerintah                                                                                                       Government
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui laba rugi                    9.613.295                   -         9.613.295                       profit or loss
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui penghasilan                                                                               other comprehensive
                               komprehensif lain                    1.425.783                   -         1.425.783                             income
                              Diukur pada biaya
                               perolehan
                               diamortisasi                          690.638                    -           690.638                      Amortised cost
                            Non-pemerintah                                                                                              Non Government
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui laba rugi                    9.757.095                   -         9.757.095                       profit or loss
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui penghasilan                                                                               other comprehensive
                               komprehensif lain                  47.358.521                    -        47.358.521                             income
                              Diukur pada biaya
                               perolehan
                               diamortisasi                         5.048.743          161.319            5.210.062                      Amortised cost
                              Diukur pada biaya
                               perolehan                            1.201.883                   -         1.201.883                               At cost
                           Obligasi pemerintah ***)                                                                                 Government Bonds ***)
                            Diukur pada nilai wajar                                                                                   Fair value through
                              melalui laba rugi                   12.078.509                    -        12.078.509                        profit or loss
                            Diukur pada nilai wajar                                                                                   Fair value through
                              melalui penghasilan                                                                                 other comprehensive
                              komprehensif lain                   90.640.924                    -        90.640.924                              income
                            Diukur pada biaya
                              perolehan
                              diamortisasi                       163.194.756                    -       163.194.756                       Amortised cost
                            Diukur pada biaya
                              perolehan                           34.541.812                    -        34.541.812                               At cost
                           Tagihan lainnya - transaksi                                                                            Other receivables- trade
                            perdagangan                           11.620.219         8.554.771           20.174.990                          transactions
                           Tagihan atas efek-efek                                                                                    Securities purchased
                            yang dibeli dengan                                                                                        under agreements
                            janji dijual kembali                  22.692.928                    -        22.692.928                              to resell
                           Tagihan derivatif                       1.994.931                    -         1.994.931                Derivatives receivables




1448 PT Bank Mandiri (Persero) Tbk                                                   381
Page 942
     CORPORATE                              ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                                   LAPORAN
                                                                                                                                                         Financial
     GOVERNANCE                             & PRACTICES                                     RESPONSIBILITY                                             KEUANGAN   2023
                                                                                                                                                         Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                            62. RISK MANAGEMENT (continued)

    A.    Risiko kredit (lanjutan)                                                              A.    Credit risk (continued)

    (i)   Eksposur      maksimum risiko kredit tanpa                                            (i)   Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                 considering collateral held and other credit
          lainnya (lanjutan)                                                                          supports (continued)

          Konsentrasi risiko aset keuangan                                dengan                      Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                           risk exposure (continued)

          c)   Kualitas kredit dari aset keuangan (lanjutan)                                          c)     Credit quality of financial assets (continued)

               Pada tanggal 31 Desember 2023 dan 2022,                                                       As of 31 December 2023 and 2022, details of
               rincian kualitas kredit dari aset keuangan                                                    the quality of financial assets that are neither
               yang belum jatuh tempo atau tidak mengalami                                                   past due or nor impaired based on internal
               penurunan nilai berdasarkan rating internal                                                   ratings are as follows (continued):
               sebagai berikut (lanjutan):

                                                                                             2023
                                                                 Tidak dalam                Dalam
                                                                pengawasan1)/            Pengawasan2)/
                                                                  Not under                 Under
                                                                 monitoring1)             Monitoring2)               Total

               Aset (lanjutan)                                                                                                                                Assets (continued)
               Kredit yang diberikan dan                                                                                                                                    Loans
                 piutang/pembiayaan                                                                                                                      and sharia receivables/
                 syariah*)                                                                                                                                            financing*)
                 Korporasi                                           367.373.222            103.737.028              471.110.250                                       Corporate
                 Komersial                                           226.273.152                191.452              226.464.604                                    Commercial
                 Retail                                              370.692.768              9.502.039              380.194.807                                           Retail
                 Syariah                                             216.034.831                      -              216.034.831                                          Sharia
               Piutang pembiayaan                                                                                                                            Consumer financing
                 konsumen                                              30.685.548                        -            30.685.548                                       receivables
               Investasi bersih dalam                                                                                                                     Net Investment finance
                 sewa pembiayaan                                        5.257.583                     -                5.257.583                                          leases
               Tagihan akseptasi                                       13.153.358             1.640.530               14.793.888                          Acceptance receivables
               Aset lain-lain                                                                                                                                        Other assets
                 Pendapatan yang
                  masih akan diterima                                  10.258.180                        -            10.258.180                                Accrued income
                 Piutang transaksi                                                                                                                             Receivables from
                  nasabah                                               2.959.133                        -             2.959.133                         customer transactions
                 Tagihan terkait dengan                                                                                                                        Receivables from
                    transaksi ATM dan                                                                                                                    transactions related to
                    kartu kredit                                        7.379.393                        -             7.379.393                           ATM and credit card
                 Tagihan kepada                                                                                                                                   Receivables to
                  pemegang polis                                          296.997                        -               296.997                                  policyholders
                 Penjualan efek-efek                                                                                                                             Sale of accrued
                    yang masih akan                                                                                                                                 marketable
                    diterima                                              570.711                        -               570.711                                      securities
                 Tagihan atas obligasi                                                                                                                         Receivables from
                    pemerintah yang                                                                                                                          government bonds
                    diagunkan                                           1.391.944                        -             1.391.944                           pledged as collateral

                                                                   1.883.286.427            123.787.139             2.007.073.566

               *)     Segmen untuk manajemen risiko dikelompokkan menjadi                                    *)      Segments of risk management are classified into Corporate,
                      Korporasi, Komersial, Retail, dan Syariah.                                                     Commercial, Retail, and Sharia.
               **)    Tidak termasuk efek-efek yang merupakan investasi dari                                 **)     Excluding marketable securities from investment from the
                      pemegang polis unit-link Entitas Anak yang tidak memiliki risiko                               Subsidiary’s unit-link policyholders with no credit risk.
                      kredit.
               ***)   Tidak termasuk obligasi pemerintah yang merupakan investasi                            ***)    Excluding government bonds from investments                  from
                      dari pemegang polis unit-link Entitas Anak yang tidak memiliki                                 Subsidiary’s unit-link policyholders with no credit risk.
                      risiko kredit.
               1)     Tidak dalam pengawasan (monitoring), tidak terdapat                                    1)      Not under monitoring, there is no doubt on the return of financial
                      keraguan atas pengembalian aset keuangan.                                                      assets.
               2)     Dalam pengawasan (monitoring).                                                         2)      Under monitoring




                                                                                              382                                                        ANNUAL REPORT 2023               1449
Page 943
            MAIN                             MANAGEMENT                         COMPANY                               MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                            PROFILE                               ANALYSIS


                                                              PT BANK MANDIRI (PERSERO) Tbk.
                                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                       62. RISK MANAGEMENT (continued)

                A.    Risiko kredit (lanjutan)                                         A.    Credit risk (continued)

                (i)   Eksposur      maksimum risiko kredit tanpa                       (i)   Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                            considering collateral held and other credit
                      lainnya (lanjutan)                                                     supports (continued)

                      Konsentrasi risiko aset keuangan               dengan                  Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                      risk exposure (continued)

                      c)   Kualitas kredit dari aset keuangan (lanjutan)                     c)     Credit quality of financial assets (continued)

                           Pada tanggal 31 Desember 2023 dan 2022,                                  As of 31 December 2023 and 2022, details of
                           rincian kualitas kredit dari aset keuangan                               the quality of financial assets that are neither
                           yang belum jatuh tempo atau tidak mengalami                              past due or nor impaired based on internal
                           penurunan nilai berdasarkan rating internal                              ratings are as follows (continued):
                           sebagai berikut (lanjutan):

                                                                                    2022
                                                               Tidak dalam         Dalam
                                                              pengawasan1)/     Pengawasan2)/
                                                                Not under          Under
                                                               monitoring1)      Monitoring2)           Total

                           Aset                                                                                                                       Assets
                           Giro pada                                                                                                Current accounts with
                            Bank Indonesia                       107.349.158                    -       107.349.158                       Bank Indonesia
                           Giro pada                                                                                                Current accounts with
                            bank lain                             47.809.985                    -        47.809.985                          other banks
                           Penempatan pada                                                                                                 Placement with
                            Bank Indonesia dan                                                                                           Bank Indonesia
                            bank lain                             95.324.112                    -        95.324.112                      and other banks
                           Efek-efek **)                                                                                           Marketable securities **)
                            Pemerintah                                                                                                       Government
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui laba rugi                  10.089.149                    -        10.089.149                       profit or loss
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui penghasilan                                                                               other comprehensive
                               komprehensif lain                    1.117.351                   -         1.117.351                             income
                              Diukur pada biaya
                               perolehan
                               diamortisasi                          720.769                    -           720.769                      Amortised cost
                            Non-pemerintah                                                                                              Non Government
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui laba rugi                    1.029.087                   -         1.029.087                       profit or loss
                              Diukur pada nilai wajar                                                                                Fair value through
                               melalui penghasilan                                                                               other comprehensive
                               komprehensif lain                  28.191.460                    -        28.191.460                             income
                              Diukur pada biaya
                               perolehan
                               diamortisasi                         7.054.487          199.547            7.254.034                      Amortised cost
                              Diukur pada biaya
                               perolehan                          11.248.978                    -        11.248.978                               At cost
                           Obligasi pemerintah ***)                                                                                 Government Bonds ***)
                            Diukur pada nilai wajar                                                                                   Fair value through
                              melalui laba rugi                     6.972.279                   -         6.972.279                        profit or loss
                            Diukur pada nilai wajar                                                                                   Fair value through
                              melalui penghasilan                                                                                 other comprehensive
                              komprehensif lain                   92.532.086                    -        92.532.086                              income
                            Diukur pada biaya
                              perolehan
                              diamortisasi                       180.578.053                    -       180.578.053                       Amortised cost
                            Diukur pada biaya
                              perolehan                           44.213.180                    -        44.213.180                               At cost
                           Tagihan lainnya - transaksi                                                                            Other receivables- trade
                            perdagangan                           14.479.250        12.144.671           26.623.921                          transactions
                           Tagihan atas efek-efek                                                                                    Securities purchased
                            yang dibeli dengan                                                                                        under agreements
                            janji dijual kembali                  11.705.989                    -        11.705.989                              to resell
                           Tagihan derivatif                       2.252.141                    -         2.252.141                Derivatives receivables




1450 PT Bank Mandiri (Persero) Tbk                                                   383
Page 944
     CORPORATE                              ESG COMMITMENTS                                 SOCIAL AND ENVIRONMENTAL                                   LAPORAN
                                                                                                                                                         Financial
     GOVERNANCE                             & PRACTICES                                     RESPONSIBILITY                                             KEUANGAN   2023
                                                                                                                                                         Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                     (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                            62. RISK MANAGEMENT (continued)

    A.    Risiko kredit (lanjutan)                                                              A.    Credit risk (continued)

    (i)   Eksposur      maksimum risiko kredit tanpa                                            (i)   Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                                 considering collateral held and other credit
          lainnya (lanjutan)                                                                          supports (continued)

          Konsentrasi risiko aset keuangan                                dengan                      Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                           risk exposure (continued)

          c)   Kualitas kredit dari aset keuangan (lanjutan)                                          c)     Credit quality of financial assets (continued)

               Pada tanggal 31 Desember 2023 dan 2022,                                                       As of 31 December 2023 and 2022, details of
               rincian kualitas kredit dari aset keuangan                                                    the quality of financial assets that are neither
               yang belum jatuh tempo atau tidak mengalami                                                   past due or nor impaired based on internal
               penurunan nilai berdasarkan rating internal                                                   ratings are as follows (continued):
               sebagai berikut (lanjutan):

                                                                                             2022
                                                                 Tidak dalam                Dalam
                                                                pengawasan1)/            Pengawasan2)/
                                                                  Not under                 Under
                                                                 monitoring1)             Monitoring2)               Total

               Aset (lanjutan)                                                                                                                                Assets (continued)
               Kredit yang diberikan dan                                                                                                                                Loans and
                 piutang/pembiayaan                                                                                                                          sharia receivables/
                 syariah*)                                                                                                                                            financing*)
                 Korporasi                                           315.533.620             93.528.980              409.062.600                                      Corporate
                 Komersial                                           133.369.046             47.910.385              181.279.431                                    Commercial
                 Retail                                              338.531.189              6.290.617              344.821.806                                           Retail
                 Syariah                                             180.532.461                      -              180.532.461                                          Sharia
               Piutang pembiayaan                                                                                                                            Consumer financing
                 konsumen                                              22.426.377                        -            22.426.377                                      receivables
               Investasi bersih dalam                                                                                                                     Net Investment finance
                 sewa pembiayaan                                        5.676.952                     -                5.676.952                                          leases
               Tagihan akseptasi                                        5.757.981             6.021.085               11.779.066                          Acceptance receivables
               Aset lain-lain                                                                                                                                        Other assets
                 Pendapatan yang
                  masih akan diterima                                   9.532.493                        -             9.532.493                                Accrued income
                 Piutang transaksi                                                                                                                             Receivables from
                  nasabah                                               2.336.220                        -             2.336.220                         customer transactions
                 Tagihan terkait dengan                                                                                                                        Receivables from
                    transaksi ATM dan                                                                                                                    transactions related to
                    kartu kredit                                        2.080.874                        -             2.080.874                           ATM and credit card
                 Tagihan kepada                                                                                                                                   Receivables to
                  pemegang polis                                          224.690                        -               224.690                                  policyholders
                 Penjualan efek-efek                                                                                                                             Sale of accrued
                    yang masih akan                                                                                                                                 marketable
                    diterima                                              231.650                        -               231.650                                      securities
                 Tagihan atas obligasi                                                                                                                         Receivables from
                    pemerintah yang                                                                                                                          government bonds
                    diagunkan                                           3.757.955                        -             3.757.955                           pledged as collateral

                                                                   1.682.659.022            166.095.285             1.848.754.307

               *)     Segmen untuk manajemen risiko dikelompokkan menjadi                                    *)      Segments of risk management are classified into Corporate,
                      Korporasi, Komersial, Retail, dan Syariah.                                                     Commercial, Retail and Sharia.
               **)    Tidak termasuk efek-efek yang merupakan investasi dari                                 **)     Excluding marketable securities from investment from the
                      pemegang polis unit-link Entitas Anak yang tidak memiliki risiko                               Subsidiary’s unit-link policyholders with no credit risk.
                      kredit.
               ***)   Tidak termasuk obligasi pemerintah yang merupakan investasi                            ***)    Excluding government bonds from investments                  from
                      dari pemegang polis unit-link Entitas Anak yang tidak memiliki                                 Subsidiary’s unit-link policyholders with no credit risk.
                      risiko kredit.
               1)     Tidak dalam pengawasan (monitoring), tidak terdapat                                    1)      Not under monitoring, there is no doubt on the return of financial
                      keraguan atas pengembalian aset keuangan.                                                      assets.
               2)     Dalam pengawasan (monitoring).                                                         2)      Under monitoring




                                                                                              384                                                        ANNUAL REPORT 2023               1451
Page 945
            MAIN                              MANAGEMENT                                       COMPANY                                MANAGEMENT DISCUSSION &
            HIGHLIGHTS                        REPORTS                                          PROFILE                                ANALYSIS


                                                               PT BANK MANDIRI (PERSERO) Tbk.
                                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                      62. RISK MANAGEMENT (continued)

                A.    Risiko kredit (lanjutan)                                                        A.    Credit risk (continued)

                (i)   Eksposur      maksimum risiko kredit tanpa                                      (i)   Maximum exposure to credit risk without
                      memperhitungkan agunan dan pendukung kredit                                           considering collateral held and other credit
                      lainnya (lanjutan)                                                                    supports (continued)

                      Konsentrasi risiko aset keuangan                         dengan                       Concentration of risks of financial assets with credit
                      eksposur risiko kredit (lanjutan)                                                     risk exposure (continued)

                      c)   Kualitas kredit dari aset keuangan (lanjutan)                                    c)   Credit quality of financial assets (continued)

                           Pada tanggal 31 Desember 2023 dan 2022,                                               As of 31 December 2023 and 2022, details of
                           rincian    kualitas   kredit     dari rekening                                        the credit quality of administrative accounts
                           administratif yang belum jatuh tempo atau                                             that are neither past due nor impaired based on
                           tidak mengalami penurunan nilai berdasarkan                                           internal ratings are as follows:
                           rating internal sebagai berikut:
                                                                                                   2023
                                                                       Tidak dalam                Dalam
                                                                      pengawasan1)/            Pengawasan2)/
                                                                        Not under                 Under
                                                                       monitoring1)             Monitoring2)          Total

                           Rekening administratif                                                                                                       Administrative accounts
                            Bank garansi yang diterbitkan                   76.928.610              36.363.198        113.291.808                      Bank guarantees issued
                            Fasilitas kredit yang diberikan
                             yang belum digunakan*)                         83.194.108               3.201.184         86.395.292                        Unused loan facilities*)
                            Letter of credit yang tidak dapat                                                                                           Outstanding irrevocable
                             dibatalkan yang masih berjalan                 13.229.070               7.360.022         20.589.092                               letter of credit
                            Standby letter of credit                        14.235.742                 511.938         14.747.680                        Standby letter of credit

                                                                           187.587.530              47.436.342        235.023.872


                                                                                                   2022
                                                                       Tidak dalam                Dalam
                                                                      pengawasan1)/            Pengawasan2)/
                                                                        Not under                 Under
                                                                       monitoring1)             Monitoring2)          Total

                           Rekening administratif                                                                                                       Administrative accounts
                            Bank garansi yang diterbitkan                   72.551.766              38.222.578        110.774.344                      Bank guarantees issued
                            Fasilitas kredit yang diberikan
                             yang belum digunakan*)                         78.953.595               4.321.235         83.274.830                        Unused loan facilities*)
                            Letter of credit yang tidak dapat                                                                                           Outstanding irrevocable
                             dibatalkan yang masih berjalan                 20.422.315               7.891.755         28.314.070                               letter of credit
                            Standby letter of credit                        11.517.444                 312.868         11.830.312                        Standby letter of credit

                                                                           183.445.120              50.748.436        234.193.556

                           *)   Termasuk fasilitas kredit committed dan uncommitted kartu                        *)   Include unused committed and uncommitted credit card
                                kredit yang belum digunakan.                                                          facilities.
                           1)   Tidak dalam pengawasan (monitoring), tidak terdapat keraguan                     1)   Not under monitoring, there is no doubt on the recovery of the
                                atas pengembalian aset keuangan.                                                      financial assets.
                           2)   Dalam pengawasan (monitoring).                                                   2)   Under monitoring.


                           Bank Mandiri:                                                                         Bank Mandiri:
                           Terdapat pertimbangan tertentu terkait                                                There are certain considerations in relation to
                           dengan      kemampuan       nasabah     dalam                                         the debtor’s ability in repaying the loan at
                           melakukan pembayaran pada saat jatuh                                                  maturity date. However, up to 31 December
                           tempo. Namun, sampai dengan tanggal                                                   2023 and 2022, there was no late payment in
                           31 Desember 2023 dan 2022, belum terdapat                                             terms of principal installment as well as
                           keterlambatan dalam pembayaran cicilan                                                interest at maturity date. This amount includes
                           pokok dan bunga pada saat jatuh temponya.                                             credit exposure on marketable securities
                           Termasuk dalam jumlah tersebut adalah                                                 (export bills), other receivables - trade
                           credit exposure atas efek-efek (wesel ekspor),                                        transactions and acceptance receivables with
                           tagihan lainnya - transaksi perdagangan dan                                           Bank Indonesia’s collectibility at two (special
                           tagihan akseptasi dengan kolektibilitas Bank                                          mention) but with no overdue as of
                           Indonesia dua (dalam perhatian khusus)                                                31 December 2023 and 2022.
                           tanpa memiliki tunggakan per 31 Desember
                           2023 dan 2022.




1452 PT Bank Mandiri (Persero) Tbk                                                                  385
Page 946
     CORPORATE                          ESG COMMITMENTS                        SOCIAL AND ENVIRONMENTAL                            LAPORAN
                                                                                                                                     Financial
     GOVERNANCE                         & PRACTICES                            RESPONSIBILITY                                      KEUANGAN   2023
                                                                                                                                     Statements 2023


                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                            (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                               62. RISK MANAGEMENT (continued)

    A.    Risiko kredit (lanjutan)                                                       A.      Credit risk (continued)

    (i)   Eksposur      maksimum risiko kredit tanpa                                    (i)     Maximum exposure to credit risk without
          memperhitungkan agunan dan pendukung kredit                                           considering collateral held and other credit
          lainnya (lanjutan)                                                                    supports (continued)

          Konsentrasi risiko aset keuangan                       dengan                         Concentration of risks of financial assets with credit
          eksposur risiko kredit (lanjutan)                                                     risk exposure (continued)

          c)   Kualitas kredit dari aset keuangan (lanjutan)                                    c)     Credit quality of financial assets (continued)

               Entitas Anak:                                                                           Subsidiaries:
               Merupakan aset keuangan yang pernah                                                     Financial assets which have experienced past
               mengalami tunggakan sebelumnya, akan                                                    due in the past but no overdue as of
               tetapi tidak terdapat tunggakan per tanggal                                             31 December 2023 and 2022.
               31 Desember 2023 dan 2022.

               Analisa umur aset keuangan yang telah jatuh                                             Aging analysis of financial assets that were
               tempo tetapi tidak mengalami penurunan nilai                                            past due, but not impaired as of 31 December
               pada tanggal 31 Desember 2023 dan 2022                                                  2023 and 2022 are as follows:
               adalah sebagai berikut:

                                                                                        2023

                                                  1 - 30 hari/      31 - 60 hari/              61 - 90 hari/
                                                  1 - 30 days       31 - 60 days               61 - 90 days        Total


               Aset                                                                                                                                    Assets

               Tagihan lainnya -                                                                                                              Other receivables
                 transaksi perdagangan                4.610.533                     -                          -     4.610.533              trade transactions
               Kredit yang diberikan dan                                                                                                      Loans and sharia
                 piutang/pembiayaan syariah                                                                                             receivables/financing
                 Korporasi                            1.500.901                   -                          -       1.500.901                       Corporate
                 Komersial                            1.669.806             730.874                    857.618       3.258.298                    Commercial
                 Retail                               6.909.852           3.612.109                  2.430.642      12.952.603                           Retail
                 Syariah                                789.132             486.125                    428.285       1.703.542                          Sharia
               Piutang pembiayaan                                                                                                         Consumer financing
                 konsumen                             1.138.500            331.825                    248.557        1.718.882                     receivables
               Investasi bersih dalam                                                                                                   Net investment finance
                 sewa pembiayaan                        106.897              42.875                     62.808        212.580                           leases

                                                     16.725.621           5.203.808                  4.027.910      25.957.339



                                                                                        2022

                                                  1 - 30 hari/      31 - 60 hari/              61 - 90 hari/
                                                  1 - 30 days       31 - 60 days               61 - 90 days        Total


               Aset                                                                                                                                    Assets

               Tagihan lainnya -                                                                                                              Other receivables
                 transaksi perdagangan                5.886.049                     -                          -     5.886.049              trade transactions
               Kredit yang diberikan dan                                                                                                      Loans and sharia
                 piutang/pembiayaan syariah                                                                                             receivables/financing
                 Korporasi                                    -                   -                          -               -                       Corporate
                 Komersial                              859.990             465.725                  1.372.601       2.698.316                    Commercial
                 Retail                               5.148.313           2.718.989                  1.774.894       9.642.196                           Retail
                 Syariah                                577.240             306.724                    242.904       1.126.868                          Sharia
               Piutang pembiayaan                                                                                                         Consumer financing
                 konsumen                               764.575            212.442                    150.574        1.127.591                     receivables
               Investasi bersih dalam                                                                                                   Net investment finance
                 sewa pembiayaan                         71.894              22.893                     74.032        168.819                           leases

                                                     13.308.061           3.726.773                  3.615.005      20.649.839




                                                                                    386                                             ANNUAL REPORT 2023            1453
Page 947
            MAIN                                  MANAGEMENT                                           COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                            REPORTS                                              PROFILE                                   ANALYSIS


                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                        NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                               FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                              62. RISK MANAGEMENT (continued)
                A.   Risiko kredit (lanjutan)                                                                A.      Credit risk (continued)
                (ii) Kredit                                                                                  (ii) Loans
                     Pada tanggal 31 Desember 2023 dan 2022,                                                          The gross amount of impaired loans, along with
                     rincian kredit yang diberikan yang mengalami                                                     the provision for impairment, by class of asset as
                     penurunan nilai beserta cadangan kerugian                                                        of 31 December 2023 and 2022, are
                     penurunan nilainya berdasarkan kelas aset                                                        summarised in the tables below:
                     sebagai berikut:
                                                                                                            2023*)

                                                             Korporasi/           Komersial/                                 Syariah/
                                                             Corporate            Commercial               Retail             Sharia                   Total

                     Mengalami penurunan nilai                                                                                                                                       Impaired
                      (dievaluasi secara                                                                                                                                          (assessed
                      individual)**)                                                                                                                                          individually)**)
                     Nilai bruto                                                                                                                                                Gross amount
                     Cadangan kerugian                         16.043.424               4.101.590            109.596             2.323.473            22.578.083                 Allowance for
                      penurunan nilai                          (8.045.859)            (3.599.794)            (45.638)          (1.261.290)          (12.952.581)           impairment losses
                     Nilai tercatat                              7.997.565                501.796               63.958           1.062.183              9.625.502              Carrying amount
                     Mengalami penurunan nilai                                                                                                                                       Impaired
                      (dievaluasi secara                                                                                                                                          (assessed
                      kolektif)**)                                                                                                                                            collectively)**)
                     Nilai bruto                                            -              20.662           6.167.923          17.845.691             24.034.276                Gross amount
                     Cadangan kerugian                                                                                                                                           Allowance for
                      penurunan nilai                                       -            (15.794)          (3.916.986)         (5.580.552)            (9.513.332)          impairment losses

                     Nilai tercatat                                          -              4.868           2.250.937          12.265.139             14.520.944               Carrying amount
                     Total nilai bruto                         16.043.424              4.122.252            6.277.519          20.169.164             46.612.359            Total gross amount
                     Total cadangan kerugian                                                                                                                                      Allowance for
                      penurunan nilai                          (8.045.859)            (3.615.588)          (3.962.624)         (6.841.842)          (22.465.913)           impairment losses
                     Total nilai tercatat                        7.997.565                506.664           2.314.895          13.327.322             24.146.446 Total carrying amount

                                                                                                                      *)    Segment of risk management are classified into Corporate,
                     *)    Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi,
                           Komersial, Retail, dan Syariah.                                                                  Commercial, Retail, and Sharia.
                                                                                                                      **)
                     **)
                           Merupakan debitur restrukturisasi dan kredit bermasalah yang                                     Represents restructured and non performing debtors which
                           dikategorikan sebagai stage 3 sesuai dengan PSAK 71 “Instrumen                                   categorized as stage 3 in accordance with SFAS 71 “Financial
                           Keuangan” dan kredit dengan kolektibilitas non performing loan dan kredit                        Instruments” and loans with collectability of non-performing loans and
                           yang dihitung secara individual yang diberikan oleh Entitas Anak yang                            loans that are calculated individually provided by a Subsidiary
                           bergerak dalam bidang perbankan syariah senilai Rp20.169.164 dengan                              engaged in Sharia Banking amounting to Rp20,169,164 with
                           cadangan kerugian penurunan nilai senilai Rp6.841.842.                                           allowance for losses impairment amounting to Rp6,841,842.


                                                                                                            2022*)

                                                             Korporasi/           Komersial/                                 Syariah/
                                                             Corporate            Commercial               Retail             Sharia                   Total

                     Mengalami penurunan nilai                                                                                                                                       Impaired
                      (dievaluasi secara                                                                                                                                          (assessed
                      individual)**)                                                                                                                                          individually)**)
                     Nilai bruto                                 4.532.748             9.521.626              277.106            2.929.652            17.261.132                Gross amount
                     Cadangan kerugian                                                                                                                                           Allowance for
                      penurunan nilai                           (3.678.272)           (8.579.571)            (252.410)          (1.445.702)          (13.955.955)          impairment losses
                     Nilai tercatat                                854.476                942.055               24.696           1.483.950              3.305.177              Carrying amount
                     Mengalami penurunan nilai                                                                                                                                       Impaired
                      (dievaluasi secara                                                                                                                                          (assessed
                      kolektif)**)                                                                                                                                            collectively)**)
                     Nilai bruto                                          81              138.377           4.418.590          21.618.024             26.175.072                Gross amount
                     Cadangan kerugian                                                                                                                                           Allowance for
                      penurunan nilai                                    (65)            (129.350)         (2.916.690)          (5.490.886)            (8.536.991)         impairment losses

                     Nilai tercatat                                       16                9.027           1.501.900          16.127.138             17.638.081               Carrying amount
                     Total nilai bruto                           4.532.829             9.660.003            4.695.696          24.547.676             43.436.204            Total gross amount
                     Total cadangan kerugian                                                                                                                                      Allowance for
                      penurunan nilai                           (3.678.337)           (8.708.921)          (3.169.100)          (6.936.588)          (22.492.946)          impairment losses
                     Total nilai tercatat                          854.492                951.082           1.526.596          17.611.088             20.943.258 Total carrying amount

                                                                                                                      *)    Segment of risk management are classified into Corporate,
                     *)    Segmen untuk manajemen risiko dikelompokkan menjadi Korporasi,
                           Komersial, Retail, dan Syariah.                                                                  Commercial, Retail, and Sharia.
                                                                                                                      **)
                     **)
                           Merupakan debitur restrukturisasi dan kredit bermasalah yang                                     Represents restructured and non performing debtors which
                           dikategorikan sebagai stage 3 sesuai dengan PSAK 71 “Instrumen                                   categorized as stage 3 in accordance with SFAS 71 “Financial
                           Keuangan” dan kredit dengan kolektibilitas non performing loan dan kredit                        Instruments” and loans with collectability of non-performing loans and
                           yang dihitung secara individual yang diberikan oleh Entitas Anak yang                            loans that are calculated individually provided by a Subsidiary
                           bergerak dalam bidang perbankan syariah senilai Rp24.547.676 dengan                              engaged in Sharia Banking amounting to Rp24,547,676 with
                           cadangan kerugian penurunan nilai senilai Rp6.936.588.                                           allowance for losses impairment amounting to Rp6,936,588.



1454 PT Bank Mandiri (Persero) Tbk                                                                        387
Page 948
     CORPORATE                    ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL                    LAPORAN
                                                                                                             Financial
     GOVERNANCE                   & PRACTICES                  RESPONSIBILITY                              KEUANGAN   2023
                                                                                                             Statements 2023


                                             PT BANK MANDIRI (PERSERO) Tbk.
                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                62. RISK MANAGEMENT (continued)
    B.    Risiko pasar dan risiko likuiditas                      B.    Market risk and liquidity risk
    (i)   Manajemen risiko likuiditas                             (i)   Liquidity risk management
          Risiko     likuiditas   adalah     risiko   akibat            Liquidity risk represents the Bank’s inability to fulfill
          ketidakmampuan        Bank     untuk     memenuhi             all financial liabilities when they become due from its
          kewajiban yang jatuh tempo dari sumber                        financing cash flows and/or high quality liquid assets
          pendanaan arus kas dan/atau dari aset likuid                  that can be pledged, without negatively impacting
          berkualitas tinggi yang dapat diagunkan, tanpa                the Bank’s activities and financial condition.
          mengganggu aktivitas dan kondisi keuangan
          Bank.
          Untuk mengukur besarnya risiko likuiditas, Bank               The Bank’s liquidity risk is measured through
          menggunakan beberapa indikator, antara lain                   several indicators, which are minimum statutory
          adalah rasio Giro Wajib Minimum (“GWM”) pada                  reserve ratio (“GWM”) in Bank Indonesia and cash,
          Bank Indonesia dan kas, Penyangga Likuiditas                  Macroprudential Liquidity Reserve (“PLM”), liquidity
          Makroprudensial (“PLM”), cadangan likuiditas,                 reserve, Macroprudential Intermediation Ratio
          Rasio Intermediasi Makroprudensial (“RIM”),                   (“RIM”), Liquidity Coverage Ratio (“LCR”), Net
          Liquidity Coverage Ratio (“LCR”), Net Stable                  Stable Funding Ratio (“NSFR”) and dependency
          Funding Ratio (“NSFR”), dan ketergantungan                    on large customer deposits.
          terhadap pendanaan nasabah besar.
          GWM adalah simpanan minimum yang wajib                        GWM is a minimum deposits required to be
          dipelihara oleh Bank dalam bentuk saldo                       maintained by the Bank in the form of current
          rekening giro pada Bank Indonesia atau surat                  accounts with Bank Indonesia or marketable
          berharga yang besarnya ditetapkan oleh Bank                   securities in which the amount is determined by
          Indonesia sebesar persentase tertentu dari dana               Bank Indonesia based on certain percentage from
          pihak ketiga (DPK). PLM merupakan persentase                  total deposits from customers. PLM is an
          kepemilikan surat berharga Rupiah yang dapat                  ownership percentage in Rupiah marketable
          digunakan dalam operasi pasar terbuka, antara                 securities which can be used in open market
          lain SBI, SDBI, SBN, dan SRBI.                                operations i.e, SBI, SDBI, SBN, and SRBI.
          Pada tanggal 31 Desember 2023 (Bank Mandiri                   As of 31 December 2023 (Bank Mandiri only), the
          saja), posisi GWM Rupiah rata - rata adalah                   Bank maintained average Rupiah GWM of 7.32%
          sebesar 7,32% dari total DPK Rupiah, sesuai                   from total outstanding deposit from customers
          dengan limit yang telah ditetapkan, sedangkan                 denominated in Rupiah in accordance with the
          untuk Giro RIM adalah sebesar 0,68% dan PLM                   regulated limit, while for RIM ratio is 0.68% and
          adalah sebesar 19,25% dari total DPK Rupiah.                  PLM ratio of 19.25% from the outstanding deposit
          Sementara untuk posisi GWM valas rata-rata                    from customer denominated in Rupiah. Meanwhile
          adalah sebesar 4,10% dari total DPK valuta asing              for the foreign currency, the Bank maintained
          sesuai dengan limit yang ditetapkan.                          average foreign exchange GWM at 4.10% from the
                                                                        outstanding deposits from customer denominated
                                                                        in foreign currency in accordance with the
                                                                        regulated limit.
          Cadangan likuiditas adalah alat likuid Bank di                Liquidity reserve is the Bank’s liquidity on top of
          atas GWM dengan fungsi untuk pemenuhan                        GWM to anticipate unscheduled liquidity needs. In
          kebutuhan likuiditas yang tidak terjadwal. Dalam              managing the liquidity reserve, Bank has liquidity
          mengelola cadangan likuiditas, Bank memiliki                  reserve limit in the form of safety level limit, which
          batasan dalam bentuk limit safety level, yaitu                represents the Bank’s liquidity reserve projection for
          proyeksi cadangan likuiditas Bank untuk 1 bulan               one following month. As of 31 December 2023, the
          ke depan. Pada tanggal 31 Desember 2023,                      liquidity reserve balance is above the safety level.
          cadangan likuiditas berada di atas safety level.

          RIM adalah rasio hasil perbandingan antara                    RIM is a ratio of loans and qualified marketable
          kredit yang diberikan dan surat berharga                      securities owned by the Bank to the customer
          korporasi yang memenuhi persyaratan tertentu                  deposits, qualified debt securities issued by the
          yang dimiliki bank terhadap dana pihak ketiga,                Bank and qualified borrowing received by the
          surat-surat berharga yang memenuhi persyaratan                Bank. As of 31 December 2023, the Banks’s RIM
          tertentu yang diterbitkan oleh Bank, dan pinjaman             is 83.73%.
          yang memenuhi persyaratan tertentu yang
          diterima oleh Bank. Pada tanggal 31 Desember
          2023, RIM Bank Mandiri saja sebesar 83,73%.
          LCR merupakan rasio antara High Quality Liquid                LCR is a ratio between High Quality Liquid Assets
          Assets (HQLA) dengan estimasi total arus kas                  (HQLA) with the estimation of total net cash
          keluar bersih (net cash outflow) selama 30 (tiga              outflow for the next 30 (thirty) days under a crisis
          puluh) hari ke depan dalam skenario krisis. LCR               scenario, LCR is used to improve the short-term
          bertujuan     untuk  meningkatkan     ketahanan               liquidity of the Bank under a crisis conditions. As of
          likuiditas jangka pendek Bank dalam kondisi                   31 December 2023, the Bank’s LCR is 176.24%.
          krisis. Pada tanggal 31 Desember 2023, LCR
          Bank Mandiri saja sebesar 176,24%.


                                                                388                                         ANNUAL REPORT 2023      1455
Page 949
            MAIN                          MANAGEMENT                           COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                              PROFILE                           ANALYSIS


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                      62. RISK MANAGEMENT (continued)

                B.    Risiko pasar dan risiko likuiditas (lanjutan)                 B.    Market risk and liquidity risk (continued)

                (i)   Manajemen risiko likuiditas (lanjutan)                        (i)   Liquidity risk management (continued)

                      NSFR merupakan rasio perbandingan antara                            NSFR is a ratio comparing the available stable
                      pendanaan stabil yang tersedia (available stable                    funding to required stable funding. As of
                      funding) dengan pendanaan stabil yang diperlukan                    31 December 2023, the Bank’s NSFR is 116.59%.
                      (required   stable  funding).    Pada    tanggal
                      31 Desember 2023, NSFR Bank Mandiri saja
                      sebesar 116,59%.
                      Kondisi likuiditas Bank di masa mendatang                           The Bank uses liquidity gap methodology to project
                      diproyeksikan melalui metodologi liquidity gap,                     its liquidity conditions for the future. Liquidity gap is
                      yang merupakan maturity mismatch antara                             basically      a     maturity    mismatch       between
                      komponen-komponen aset dan liabilitas (termasuk                     components of assets and liabilities (including off-
                      off balance sheet), yang disusun ke dalam periode                   balance sheet), which are classified into time
                      waktu (time bucket) berdasarkan contractual                         bucket based on their contractual maturity or
                      maturity ataupun behavioral maturity. Pada tanggal                  behavioral maturity. As of 31 December 2023, the
                      31 Desember 2023, proyeksi likuiditas Bank                          Bank's liquidity forecast up to next 12 months is at
                      sampai dengan 12 bulan ke depan berada dalam                        a surplus position. Even in the surplus position for
                      posisi surplus. Meskipun proyeksi likuiditas 12                     the next 12 months, the Bank always prepares for
                      bulan     ke   depan     surplus,   Bank     selalu                 alternative funding to anticipate tight liquidity in the
                      mempersiapkan alternatif funding apabila kondisi                    market or the liquidity is not as expected.
                      likuiditas pasar menjadi ketat atau tidak sesuai
                      dengan prediksi Bank.
                      Untuk mengetahui dampak perubahan faktor pasar                      To determine the impact of changes in market
                      maupun faktor internal pada kondisi ekstrim (krisis)                factors and internal factors under extreme
                      terhadap kondisi likuiditas, Bank melakukan stress                  conditions (crisis) to the liquidity, the Bank
                      testing risiko likuiditas secara berkala. Hasil stress              conducts stress testing of liquidity risk on a regular
                      testing yang dilakukan telah dipaparkan kepada                      basis. The results of stress testing performed was
                      Manajemen. Hasil stress testing menunjukkan                         presented to the Management. The stress testing
                      bahwa Bank dapat bertahan pada kondisi krisis                       result showed that the Bank will be able to survive
                      likuiditas.                                                         under liquidity crisis conditions.

                      Meskipun hasil stress testing menunjukkan bahwa                     Although the stress testing result showed liquidity
                      risiko likuiditas dapat dikelola dengan baik, Bank                  risk is well managed, Bank has Liquidity
                      memiliki Liquidity Contingency Plan (LCP) yang                      Contingency Plan (LCP) in crisis condition which
                      meliputi strategi pendanaan dan strategi pricing                    covers funding strategy and pricing strategy
                      dalam kondisi krisis, antara lain pinjaman pasar                    including money market borrowing, repo, bilateral
                      uang, repo, pinjaman bilateral, FX swap dan                         borrowing, FX swap and wholesale funding. In
                      wholesale funding. Dalam LCP, penetapan kondisi                     LCP, determination of liquidity situations and
                      likuiditas dan strategi-strategi pendanaan telah                    funding strategies have considered internal and
                      mempertimbangkan kondisi internal dan eksternal.                    external conditions.
                      Dalam rangka mengantisipasi timbulnya risiko                        To anticipate liquidity risks due to volatility of global
                      likuiditas akibat adanya perubahan faktor ekonomi                   economic condition, Bank Mandiri monitors external
                      global, Bank Mandiri memonitor indikator -                          indicators, including indONIA, BI Rate, 10-years SUN
                      indikator eksternal di antaranya: indONIA, suku
                      bunga kebijakan Bank Indonesia (BI Rate), yield                     Yield, Rupiah Banking Liquidity Outstanding,
                      SUN 10 tahun, outstanding likuiditas perbankan                      Composite Stock Price Index (IHSG), Rate Interbank
                      Rupiah, Indeks Harga Saham Gabungan (IHSG),                         Call Money, 10-years UST Yield, USD/IDR
                      rate interbank call money, yield UST 10 tahun, nilai                Exchange Rate, Indonesia’s 5-years Credit Default
                      tukar USD/IDR, Credit Default Swap (CDS) 5                          Swap (CDS) and the current market informations.
                      tahun Indonesia, serta informasi pasar terkini.
                      Pelaporan jatuh tempo pada tanggal 31 Desember                      The maturity profile as of 31 December 2023 and
                      2023 dan 2022, didasarkan pada jangka waktu                         2022 are based on the remaining period from these
                      yang tersisa sejak tanggal-tanggal tersebut.                        dates. Historically, there were a large portion of
                      Secara historis, terdapat bagian dari simpanan                      deposits to be renewed upon maturity. In addition, if
                      dalam jumlah yang cukup besar yang                                  there is a need for liquidity, Government Bonds (at
                      diperpanjang pada saat jatuh tempo. Selain itu,                     fair value through profit or loss and fair value
                      jika terdapat keperluan likuiditas, obligasi                        through other comprehensive income) can be
                      pemerintah (portofolio diukur pada nilai wajar                      exercised by utilizing as collateral in interbank
                      melalui laba rugi dan tersedia untuk dijual diukur                  market.
                      pada nilai wajar melalui penghasilan komprehensif
                      lain) dapat dicairkan dengan menggunakannya
                      sebagai jaminan dalam pasar antar Bank.



1456 PT Bank Mandiri (Persero) Tbk                                                389
Page 950
     CORPORATE                                   ESG COMMITMENTS                                       SOCIAL AND ENVIRONMENTAL                                                       LAPORAN
                                                                                                                                                                                        Financial
     GOVERNANCE                                  & PRACTICES                                           RESPONSIBILITY                                                                 KEUANGAN   2023
                                                                                                                                                                                        Statements 2023


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                    (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                       62. RISK MANAGEMENT (continued)

    B.    Risiko pasar dan risiko likuiditas (lanjutan)                                                        B.       Market risk and liquidity risk (continued)

    (i)   Manajemen risiko likuiditas (lanjutan)                                                               (i)      Liquidity risk management (continued)

          Pelaporan jatuh tempo aset dan liabilitas                                                                     The maturity profile of financial assets and liabilities
          keuangan dengan metode arus kas discounted                                                                    presented using discounted cash flows method are
          adalah sebagai berikut:                                                                                       as follows:
                                                                                                            2023
                                                                Tidak
                                                             mempunyai
                                                               kontrak                   > 1 bulan            > 3 bulan   > 6 bulan     > 1 tahun
                                                            jatuh tempo/               - ≤ 3 bulan/          ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                             No maturity   ≤ 1 bulan/   > 1 month            > 3 month    > 6 month      > 1 year                    > 3 tahun/
                     Keterangan                 Total         contract     ≤ 1 month - ≤ 3 months            ≤ 6 months- ≤ 12 months - ≤ 3 years                     > 3 years                 Description

          Aset                                                                                                                                                                                                  Assets
          Giro pada                                                                                                                                                                              Current accounts with
            Bank Indonesia                   108.605.322               -   108.605.322                  -                     -               -              -                    -                     Bank Indonesia
          Giro pada                                                                                                                                                                              Current accounts with
            bank lain - bruto                 36.606.090               -     36.606.090                 -                     -               -              -                    -               other banks - gross
          Penempatan pada                                                                                                                                                                               Placement with
            Bank Indonesia                                                                                                                                                                            Bank Indonesia
            dan bank lain - bruto             73.888.157               -     70.730.056         1.720.946            191.315            45.212        934.704            265.924             and other banks - gross
          Efek-efek - bruto                   94.696.116      19.450.792     19.295.305         9.554.791          7.388.010         9.074.004     11.241.024         18.692.190          Marketable securities - gross
          Obligasi Pemerintah                309.182.971               -        939.676         5.856.981          4.088.461        25.578.916     67.948.299        204.770.638                    Government bonds
          Tagihan lainnya - transaksi                                                                                                                                                          Other receivables-trade
            perdagangan - bruto               26.044.553               -      5.403.887     11.847.619             7.279.397           254.620               -         1.259.030                 transactions - gross
          Tagihan atas efek-efek                                                                                                                                                                  Securities purchased
            yang dibeli dengan janji                                                                                                                                                                     under resale
            dijual kembali - bruto            22.692.928               -     22.689.183            2.772                 973                 -                   -            -                  agreements - gross
          Tagihan derivatif - bruto            1.994.931               -        323.226          228.972             199.312           249.941        261.623           731.857          Derivative receivables - gross
          Kredit yang diberikan dan                                                                                                                                                                   Loans and sharia
            piutang/pembiayaan                                                                                                                                                                receivables/financing -
            syariah - bruto                1.359.832.195               -     17.537.485     26.692.023         44.755.115           81.852.120    166.149.946 1.022.845.506                                     gross
          Piutang pembiayaan                                                                                                                                                                       Consumer financing
            konsumen - bruto                  32.749.796               -        892.289         1.672.539          2.457.908         4.816.199     20.186.250          2.724.611                  receivables - gross
          Investasi bersih dalam sewa                                                                                                                                                          Net Investment finance
            pembiayaan - bruto                 5.489.242              -         298.722           581.208            807.607         1.346.953      2.324.275            130.477                       leases - gross
          Tagihan akseptasi - bruto           14.793.888              -       2.682.381         6.043.751          5.763.816           204.009         99.931                  -        Acceptance receivables - gross
          Aset lain-lain - bruto*)            22.866.361        296.998      15.785.032           347.421            465.207           992.615      2.679.499          2.299.589                   Other asset - gross*)

                                           2.109.442.550      19.747.790   301.788.654      64.549.023         73.397.121          124.414.589    271.825.551 1.253.719.822
          Cadangan kerugian                                                                                                                                                                  Allowance for impairment
           penurunan nilai                  (55.690.787)                                                                                                                                                     losses

          Jumlah                           2.053.751.763                                                                                                                                                            Total

          Liabilitas                                                                                                                                                                                         Liabilities
          Simpanan nasabah                                                                                                                                                                    Deposits from customers
            Giro dan                                                                                                                                                                           Demand deposits and
              giro wadiah                    552.359.156               -   552.359.156                  -                     -               -              -                    -        wadiah demand deposits
            Tabungan dan tabungan                                                                                                                                                        Saving deposits and wadiah
              wadiah                         509.291.489               -   509.291.489               -                  -                    -              -                     -                 saving deposits
            Deposito berjangka               289.797.504               -   172.195.298      98.848.767         13.980.114            4.180.569        592.756                     -                    Time deposits
          Simpanan dari bank lain                                                                                                                                                           Deposits from other banks
            Giro, giro wadiah                                                                                                                                                                      Demand deposits,
              dan                                                                                                                                                                         wadiah demand deposits
              tabungan                          6.693.583              -      6.693.583                 -                  -                 -              -                 -                and saving deposits
            Interbank call money                7.281.896              -      1.048.167         3.005.523          1.688.506         1.539.700              -                 -                 Interbank call money
            Deposito berjangka                  3.709.301              -      1.009.890           935.100            323.840           624.430        692.865           123.176                        Time deposits
          Liabilitas atas efek-efek                                                                                                                                                                      Securities sold
            yang dijual dengan                                                                                                                                                                     under agreements
            janji dibeli kembali              36.330.064               -              -           136.341               -           14.661.443     14.785.558          6.746.722                       to repurchase
          Liabilitas derivatif                 2.113.853               -        400.480           183.367         364.358              272.274        265.291            628.083                   Derivatives liabilities
          Liabilitas akseptasi                14.793.888               -      2.682.381         6.043.751       5.763.816              204.009         99.931                  -                  Acceptance liabilities
          Efek-efek yang diterbitkan          50.517.764               -      1.840.975         4.160.591      15.495.383                    -     23.231.784          5.789.031                 Debt securities issued
          Beban yang masih
            harus dibayar                      4.799.446              -       3.766.151                 -               -            1.033.295              -                  -                   Accrued expenses
          Liabilitas lain-lain **)            14.371.118        287.424      11.718.324         1.370.402               -              211.261        783.707                  -                     Other liabilities**)
          Pinjaman yang diterima              95.445.459              -      17.156.358         9.331.354      14.934.345           10.812.227     37.678.617          5.532.558                     Fund borrowings
          Pinjaman dan efek-efek                                                                                                                                                               Subordinates loans and
            subordinasi                          215.171               -          9.643                 -                     -          9.643         38.574            157.311               marketable securities

                                           1.587.719.692        287.424 1.280.171.895      124.015.196         52.550.362           33.548.851     78.169.083         18.976.881


          Perbedaan jatuh tempo              521.722.858      19.460.366   (978.383.241)   (59.466.173)        20.846.759           90.865.738    193.656.468 1.234.742.941                                Maturity gap

          Posisi neto setelah cadangan                                                                                                                                                 Net positions, net of allowance
             kerugian penurunan nilai        466.032.071                                                                                                                                      for impairment losses

          *)                                                                                                            *)        Other assets consists of accrued income, receivables from government
                Aset lain-lain terdiri dari pendapatan yang masih akan diterima, tagihan
                atas obligasi pemerintah yang diagunkan, piutang transaksi nasabah,                                               bonds pledged as collateral, receivables from customer transactions,
                penjualan efek-efek yang masih akan diterima, tagihan terkait dengan                                              receivables from sales of marketable securities, receivables related to
                transaksi ATM dan kartu kredit, dan tagihan kepada pemegang polis.                                                ATM and credit card transactions and receivables from policyholders.
          **)
                Liabilitas lain-lain terdiri dari utang transaksi nasabah, liabilitas terkait                           **)       Other liabilities consists of customers transfer transaction, liabilities
                dengan transaksi ATM dan kartu kredit, setoran jaminan, pembelian efek-                                           related to ATM and credit card transactions, guarantee deposits, lease
                efek yang masih harus dibayar, liabilitas terkait dengan transaksi transfer                                       liabilities, liabilities related to customer transfer transactions and claim
                nasabah, liabilitas sewa dan utang klaim.                                                                         payables.




                                                                                                            390                                                                        ANNUAL REPORT 2023                    1457
Page 951
            MAIN                                      MANAGEMENT                                              COMPANY                                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                REPORTS                                                 PROFILE                                                   ANALYSIS


                                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                    (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                       62. RISK MANAGEMENT (continued)

                B.    Risiko pasar dan risiko likuiditas (lanjutan)                                                        B.       Market risk and liquidity risk (continued)

                (i)   Manajemen risiko likuiditas (lanjutan)                                                               (i)      Liquidity risk management (continued)

                      Pelaporan jatuh tempo aset dan liabilitas                                                                     The maturity profile of financial assets and liabilities
                      keuangan dengan metode arus kas discounted                                                                    presented using discounted cash flows method are
                      adalah sebagai berikut (lanjutan):                                                                            as follows (continued):
                                                                                                                        2022
                                                                            Tidak
                                                                         mempunyai
                                                                           kontrak                   > 1 bulan            > 3 bulan   > 6 bulan     > 1 tahun
                                                                        jatuh tempo/               - ≤ 3 bulan/          ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                                         No maturity   ≤ 1 bulan/   > 1 month            > 3 month    > 6 month      > 1 year                > 3 tahun/
                                 Keterangan                 Total         contract     ≤ 1 month - ≤ 3 months            ≤ 6 months- ≤ 12 months - ≤ 3 years                 > 3 years                Description

                      Aset                                                                                                                                                                                             Assets
                      Giro pada                                                                                                                                                                         Current accounts with
                        Bank Indonesia                   107.349.158               -   107.349.158                  -                     -               -              -                -                    Bank Indonesia
                      Giro pada                                                                                                                                                                         Current accounts with
                        bank lain - bruto                 47.809.985               -     47.809.985                 -                     -               -              -                -              other banks - gross
                      Penempatan pada                                                                                                                                                                          Placement with
                        Bank Indonesia                                                                                                                                                                       Bank Indonesia
                        dan bank lain - bruto             95.324.112               -     81.810.959     11.165.100            323.974              706.669         35.180      1.282.230            and other banks - gross
                      Efek-efek - bruto                   82.841.009      23.374.462     12.759.977      5.481.946          9.021.588            2.324.150      8.556.992     21.321.894         Marketable securities - gross
                      Obligasi Pemerintah                329.211.764               -              -        854.583         17.422.721           16.383.303     64.931.125    229.620.032                   Government bonds
                      Tagihan lainnya - transaksi                                                                                                                                                     Other receivables-trade
                        perdagangan - bruto               33.793.264               -      7.749.872     13.728.796             9.944.312         1.099.409               -     1.270.875                transactions - gross
                      Tagihan atas efek-efek                                                                                                                                                             Securities purchased
                        yang dibeli dengan janji                                                                                                                                                                under resale
                        dijual kembali - bruto            11.705.989               -     11.533.697          168.938               3.354                 -              -              -                agreements - gross
                      Tagihan derivatif - bruto            2.252.141               -        293.403          253.438             204.392           206.227        634.496        660.185        Derivative receivables - gross
                      Kredit yang diberikan dan                                                                                                                                                              Loans and sharia
                        piutang/pembiayaan                                                                                                                                                           receivables/financing -
                        syariah - bruto                1.172.599.882               -     41.831.368     32.818.682        182.421.845           54.482.041    129.299.057    731.746.889                               gross
                      Piutang pembiayaan                                                                                                                                                                  Consumer financing
                        konsumen - bruto                  23.757.727               -        690.737         1.268.075          1.841.129         3.576.810      7.952.509      8.428.467                 receivables - gross
                      Investasi bersih dalam sewa                                                                                                                                                     Net Investment finance
                        pembiayaan - bruto                 5.872.560              -         288.622           556.040            800.244         1.412.962      2.664.162        150.530                      leases - gross
                      Tagihan akseptasi - bruto           11.781.581              -       3.229.392         4.832.027          3.468.111           251.364            687              -       Acceptance receivables - gross
                      Aset lain-lain - bruto*)            18.170.299        224.689      10.218.610           311.590            672.047           717.761      1.442.316      4.583.286                  Other asset - gross*)

                                                       1.942.469.471      23.599.151   325.565.780      71.439.215        226.123.717           81.160.696    215.516.524    999.064.388
                      Cadangan kerugian                                                                                                                                                             Allowance for impairment
                       penurunan nilai                   (67.102.310)                                                                                                                                               losses

                      Jumlah                           1.875.367.161                                                                                                                                                       Total

                      Liabilitas                                                                                                                                                                                    Liabilities
                      Simpanan nasabah                                                                                                                                                               Deposits from customers
                        Giro dan                                                                                                                                                                      Demand deposits and
                          giro wadiah                    519.077.962               -   519.077.962                  -                     -               -              -                -       wadiah demand deposits
                        Tabungan dan tabungan                                                                                                                                                   Saving deposits and wadiah
                          wadiah                         480.482.766               -   480.482.766               -                  -                    -              -                 -                saving deposits
                        Deposito berjangka               296.015.201               -   186.117.129      83.236.600         17.359.502            8.282.637      1.019.333                 -                   Time deposits
                      Simpanan dari bank lain                                                                                                                                                      Deposits from other banks
                        Giro, giro wadiah                                                                                                                                                                 Demand deposits,
                          dan                                                                                                                                                                    wadiah demand deposits
                          tabungan                          5.734.401              -      5.734.401                -                   -                 -              -                 -           and saving deposits
                        Interbank call money                4.436.101              -      2.849.621          492.560             626.895           467.025              -                 -            Interbank call money
                        Deposito berjangka                  4.676.907              -      2.802.981          467.452             783.225           311.900        311.349                 -                   Time deposits
                      Liabilitas atas efek-efek                                                                                                                                                                 Securities sold
                        yang dijual dengan                                                                                                                                                                under agreements
                        janji dibeli kembali              24.325.475               -              -         1.134.117      11.419.307            4.328.826      4.278.588      3.164.637                      to repurchase
                      Liabilitas derivatif                 2.126.769               -        192.749           331.139         154.570              295.520        676.279        476.512                  Derivatives liabilities
                      Liabilitas akseptasi                11.781.581               -      3.229.392         4.832.027       3.468.111              251.364            687              -                 Acceptance liabilities
                      Efek-efek yang diterbitkan          45.774.139               -      1.939.402                 -               -            6.313.745     26.852.710     10.668.282                Debt securities issued
                      Beban yang masih
                        harus dibayar                      6.493.794              -       5.480.043                -                   -         1.013.751              -              -                  Accrued expenses
                      Liabilitas lain-lain **)             9.538.761        323.394       7.381.795          965.537                   -                 -        868.035              -                    Other liabilities**)
                      Pinjaman yang diterima              62.840.118              -       6.028.817          253.082           7.313.682        11.049.753     24.368.616     13.826.168                    Fund borrowings
                      Pinjaman dan efek-efek                                                                                                                                                          Subordinates loans and
                        subordinasi                          633.333               -          9.539                 -                     -        509.308         38.157         76.329              marketable securities

                                                       1.473.937.308        323.394 1.221.326.597       91.712.514         41.125.292           32.823.829     58.413.754     28.211.928


                      Perbedaan jatuh tempo              468.532.163      23.275.757 (895.760.817)     (20.273.299)       184.998.425           48.336.867    157.102.770    970.852.460                          Maturity gap

                      Posisi neto setelah cadangan                                                                                                                                            Net positions, net of allowance
                         kerugian penurunan nilai        401.429.853                                                                                                                                 for impairment losses

                      *)                                                                                                            *)        Other assets consists of accrued income, receivables from government
                            Aset lain-lain terdiri dari pendapatan yang masih akan diterima, tagihan
                            atas obligasi pemerintah yang diagunkan, piutang transaksi nasabah,                                               bonds pledged as collateral, receivables from customer transactions,
                            penjualan efek-efek yang masih akan diterima, tagihan terkait dengan                                              receivables from sales of marketable securities, receivables related to
                            transaksi ATM dan kartu kredit, dan tagihan kepada pemegang polis.                                                ATM and credit card transactions and receivables from policyholders.
                      **)
                            Liabilitas lain-lain terdiri dari utang transaksi nasabah, liabilitas terkait                           **)       Other liabilities consists of customers transfer transaction, liabilities
                            dengan transaksi ATM dan kartu kredit, setoran jaminan, pembelian efek-                                           related to ATM and credit card transactions, guarantee deposits, lease
                            efek yang masih harus dibayar, liabilitas terkait dengan transaksi transfer                                       liabilities, liabilities related to customer transfer transactions and claim
                            nasabah, liabilitas sewa dan utang klaim.                                                                         payables.




1458 PT Bank Mandiri (Persero) Tbk                                                                                      391
Page 952
     CORPORATE                              ESG COMMITMENTS                                   SOCIAL AND ENVIRONMENTAL                                          LAPORAN
                                                                                                                                                                  Financial
     GOVERNANCE                             & PRACTICES                                       RESPONSIBILITY                                                    KEUANGAN   2023
                                                                                                                                                                  Statements 2023


                                                        PT BANK MANDIRI (PERSERO) Tbk.
                                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                             NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                           (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                              62. RISK MANAGEMENT (continued)

    B.    Risiko pasar dan risiko likuiditas (lanjutan)                                              B.       Market risk and liquidity risk (continued)

    (i)   Manajemen risiko likuiditas (lanjutan)                                                     (i)      Liquidity risk management (continued)

          Tabel jatuh tempo berikut ini menyajikan                                                            The following maturity table provides information
          informasi mengenai perkiraan jatuh tempo dari                                                       regarding contractual maturities of financial liabilities
          liabilitas keuangan sesuai kontrak berdasarkan                                                      based on undiscounted cash flows as of
          arus      kas   undiscounted    pada    tanggal                                                     31 December 2023 and 2022 as follows:
          31 Desember 2023 dan 2022 adalah sebagai
          berikut:
                                                                                                  2023
                                                           Tidak
                                                        mempunyai
                                                          kontrak                    > 1 bulan       > 3 bulan   > 6 bulan     > 1 tahun
                                                       jatuh tempo/                - ≤ 3 bulan/     ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                        No maturity    ≤ 1 bulan/   > 1 month       > 3 month    > 6 month      > 1 year       > 3 tahun/
                  Keterangan               Total         contract      ≤ 1 month - ≤ 3 months       ≤ 6 months- ≤ 12 months - ≤ 3 years        > 3 years                 Description

          Liabilitas                                                                                                                                                                 Liabilities
          Simpanan nasabah                                                                                                                                             Deposit from customers
            Giro dan                                                                                                                                             Demand deposits and wadiah
              giro wadiah                553.337.122              -    553.337.122             -                 -            -            -                -              demand deposits
            Tabungan dan                                                                                                                                          Saving deposits and wadiah
              tabungan wadiah            509.472.004              -    509.013.106        76.016          72.636         95.584     138.457         76.205                   saving deposits
            Deposito berjangka           290.687.025              -    172.635.462    98.506.723      14.518.899      4.424.315     601.626              -                      Time deposits
          Simpanan dari bank lain                                                                                                                                    Deposits from other banks
            Giro, giro wadiah                                                                                                                                               Demand deposits,
              dan                                                                                                                                                  wadiah demand deposits
              tabungan                     6.699.949              -      6.699.949             -                 -            -           -                 -          and saving deposits
            Interbank call money           7.431.438              -        766.698     3.368.967         1.730.129    1.565.644           -                 -            Interbank call money
            Deposito berjangka             3.830.443              -      1.201.045       948.084           336.032    1.214.114     131.168                 -                   Time deposits
          Liabilitas atas efek-efek                                                                                                                                               Securities sold
            yang dijual dengan                                                                                                                                              under agreements
            janji dibeli kembali          38.337.611              -              -       136.341               -     15.354.025   15.888.241     6.959.004                      to repurchase
          Liabilitas derivatif             1.493.546              -        736.342       141.834         260.070        110.773       84.881       159.646                  Derivative payables
          Liabilitas akseptasi            14.793.888              -      2.682.381     6.043.751       5.763.816        204.009       99.931             -                Acceptance payables
          Efek-efek yang diterbitkan      53.067.478              -        232.629       133.214      16.763.283      1.394.701   27.021.030     7.522.621                Debt securities issued
          Beban yang masih harus dibayar   4.799.446              -      3.766.151             -               -      1.033.295            -             -                    Accrued expenses
          Liabilitas lain-lain            14.371.118        287.424     11.718.324     1.370.402               -        211.261      783.707             -                        Other liabilities
          Pinjaman yang diterima          97.890.211              -     15.754.464     9.403.206      15.320.290     11.591.168   39.826.261     5.994.822                     Fund borrowings
          Pinjaman dan efek-efek                                                                                                                                       Subordinated loans and
            subordinasi                      246.846              -         10.219         1.152             1.728      13.098       52.395        168.254              marketable securities

          Total                        1.596.458.125        287.424 1.278.553.892    120.129.690      54.766.883     37.211.987   84.627.697    20.880.552                                   Total



                                                                                                  2022
                                                           Tidak
                                                        mempunyai
                                                          kontrak                    > 1 bulan       > 3 bulan   > 6 bulan     > 1 tahun
                                                       jatuh tempo/                - ≤ 3 bulan/     ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                        No maturity    ≤ 1 bulan/   > 1 month       > 3 month    > 6 month      > 1 year       > 3 tahun/
                  Keterangan               Total         contract      ≤ 1 month - ≤ 3 months       ≤ 6 months- ≤ 12 months - ≤ 3 years        > 3 years                 Description

          Liabilitas                                                                                                                                                                 Liabilities
          Simpanan nasabah                                                                                                                                             Deposit from customers
            Giro dan                                                                                                                                             Demand deposits and wadiah
              giro wadiah                519.777.663              -    519.777.663             -                 -            -            -                -              demand deposits
            Tabungan dan                                                                                                                                          Saving deposits and wadiah
              tabungan wadiah            480.648.134               -   480.019.332      350.911          117.920         63.061       64.928        31.982                   saving deposits
            Deposito berjangka           296.436.255              -    186.335.025    82.038.829      18.513.528      8.512.927    1.035.946             -                      Time deposits
          Simpanan dari bank lain                                                                                                                                    Deposits from other banks
            Giro, giro wadiah                                                                                                                                               Demand deposits,
              dan                                                                                                                                                  wadiah demand deposits
              tabungan                     5.738.669              -      5.738.669            -                  -           -            -                 -          and saving deposits
            Interbank call money           4.523.557              -      2.916.320      502.377            635.426     469.434            -                 -            Interbank call money
            Deposito berjangka             4.781.196              -      2.848.035      485.142            790.673     329.932      327.414                 -                   Time deposits
          Liabilitas atas efek-efek                                                                                                                                               Securities sold
            yang dijual dengan                                                                                                                                              under agreements
            janji dibeli kembali          25.665.813              -              -     1.143.056      12.145.349      4.535.200    4.502.277     3.339.931                      to repurchase
          Liabilitas derivatif             1.826.945              -        466.677       201.024         139.064        246.698      517.386       256.096                  Derivative payables
          Liabilitas akseptasi            11.781.581              -      3.229.393     4.832.027       3.468.110        251.364          687             -                Acceptance payables
          Efek-efek yang diterbitkan      49.247.840              -         64.402        89.198         403.580      5.652.838   28.417.942    14.619.880                Debt securities issued
          Beban yang masih harus dibayar   6.493.794              -      5.480.043             -               -      1.013.751            -             -                    Accrued expenses
          Liabilitas lain-lain             9.538.761        323.394      7.381.795       965.537               -              -      868.035             -                        Other liabilities
          Pinjaman yang diterima          63.790.899              -      6.293.873       195.769       7.393.685      9.552.554   25.703.218    14.651.800                     Fund borrowings
          Pinjaman dan efek-efek                                                                                                                                       Subordinated loans and
            subordinasi                      661.653              -         13.079         7.080            10.620     516.388       38.157         76.329              marketable securities

          Total                        1.480.912.760        323.394 1.220.564.306     90.810.950      43.617.955     31.144.147   61.475.990    32.976.018                                   Total




                                                                                                   392                                                           ANNUAL REPORT 2023                   1459
Page 953
            MAIN                                  MANAGEMENT                                        COMPANY                                                MANAGEMENT DISCUSSION &
            HIGHLIGHTS                            REPORTS                                           PROFILE                                                ANALYSIS


                                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                            NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                   FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                   31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                          (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                             62. RISK MANAGEMENT (continued)

                B.    Risiko pasar dan risiko likuiditas (lanjutan)                                              B.       Market risk and liquidity risk (continued)

                (i)   Manajemen risiko likuiditas (lanjutan)                                                     (i)      Liquidity risk management (continued)

                      Tabel jatuh tempo berikut ini menyajikan                                                            The following maturity table provides information
                      informasi mengenai perkiraan jatuh tempo dari                                                       regarding contractual maturities of administrative
                      rekening administratif sesuai kontrak berdasarkan                                                   accounts based on undiscounted cash flows as of
                      arus     kas   undiscounted       pada     tanggal                                                  31 December 2023 and 2022 as follows:
                      31 Desember 2023 dan 2022 adalah sebagai
                      berikut:
                                                                                                              2023
                                                                        Tidak
                                                                     mempunyai
                                                                       kontrak                   > 1 bulan      > 3 bulan   > 6 bulan     > 1 tahun
                                                                    jatuh tempo/               - ≤ 3 bulan/    ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                                     No maturity   ≤ 1 bulan/   > 1 month      > 3 month    > 6 month      > 1 year             > 3 tahun/
                              Keterangan                Total         contract     ≤ 1 month - ≤ 3 months      ≤ 6 months- ≤ 12 months - ≤ 3 years              > 3 years            Description

                      Rekening Administratif                                                                                                                                         Administrative accounts
                       Bank garansi yang diterbitkan 114.600.453               -   114.600.453            -                    -              -             -                -     Bank guarantees issued
                       Fasilitas kredit yang diberikan
                         yang belum digunakan*)        86.976.966              -    86.976.966            -                    -              -             -                -      Unused loan facilities*)
                       Letter of credit yang tidak
                         dapat dibatalkan yang                                                                                                                                     Outstanding irrevocable
                         masih berjalan                20.881.972              -     5.438.044    7.153.328          3.134.565       1.780.902     3.375.133                 -            letter of credit
                       Standby letter of credit        14.759.282              -    14.759.282            -                  -               -             -                 -      Standby letter of credit

                                                     237.218.673               -   221.774.745    7.153.328       3.134.565          1.780.902     3.375.133                 -


                      *)   Termasuk fasilitas kredit committed dan uncommitted kartu kredit yang                          *)       Include unused committed and uncommitted credit card facilities
                           belum digunakan.

                                                                                                              2022
                                                                        Tidak
                                                                     mempunyai
                                                                       kontrak                   > 1 bulan      > 3 bulan   > 6 bulan     > 1 tahun
                                                                    jatuh tempo/               - ≤ 3 bulan/    ≤ 6 bulan/ - ≤ 12 bulan/ - ≤ 3 tahun/
                                                                     No maturity   ≤ 1 bulan/   > 1 month      > 3 month    > 6 month      > 1 year             > 3 tahun/
                              Keterangan                Total         contract     ≤ 1 month - ≤ 3 months      ≤ 6 months- ≤ 12 months - ≤ 3 years              > 3 years            Description

                      Rekening Administratif                                                                                                                                         Administrative accounts
                       Bank garansi yang diterbitkan 111.006.507               -   111.006.507            -                    -              -             -                -     Bank guarantees issued
                       Fasilitas kredit yang diberikan
                         yang belum digunakan*)        83.905.392              -    83.905.392            -                    -              -             -                -      Unused loan facilities*)
                       Letter of credit yang tidak
                         dapat dibatalkan yang                                                                                                                                     Outstanding irrevocable
                         masih berjalan                28.317.281              -     7.420.829   13.204.528       3.876.944          2.108.466     1.050.190       656.324                letter of credit
                       Standby letter of credit        11.830.312              -    11.830.312            -               -                  -             -             -          Standby letter of credit

                                                     235.059.492               -   214.163.040   13.204.528       3.876.944          2.108.466     1.050.190       656.324


                      *)   Termasuk fasilitas kredit committed dan uncommitted kartu kredit yang                          *)       Include unused committed and uncommitted credit card facilities
                           belum digunakan.


                (ii) Manajemen risiko suku bunga portfolio banking                                               (ii) Interest rate risk management on banking book
                     book                                                                                             portfolio

                      Risiko pasar adalah risiko pada posisi neraca dan                                                   Market risk is the risk of balance sheet position and
                      rekening administratif, termasuk transaksi                                                          administrative accounts, including derivative
                      derivatif, akibat perubahan secara keseluruhan                                                      transactions, resulted from changes in market
                      dari kondisi pasar, termasuk risiko perubahan                                                       conditions, including changes in option price risk.
                      harga option.

                      Pengelolaan risiko pasar banking book dilakukan                                                     Managing market risk on banking book is performed
                      dengan mengoptimalkan struktur laporan posisi                                                       by optimising the structure of the Bank's statement
                      keuangan Bank untuk mendapatkan imbal hasil                                                         of financial position to obtain maximum yield of
                      yang maksimal sesuai tingkat risiko yang dapat                                                      return at acceptable risk level to the Bank. The
                      diterima Bank. Pengendalian risiko pasar banking                                                    monitoring of market risk on banking book is
                      book dilakukan dengan menetapkan limit yang                                                         performed by setting a limit which is refer to the
                      mengacu pada ketentuan Regulator dan internal                                                       regulator requirements and the internal policies,
                      yang dimonitor secara mingguan maupun                                                               which are monitored on a weekly and monthly basis
                      bulanan oleh Market Risk Management Unit.                                                           by the Market Risk Management Unit.




1460 PT Bank Mandiri (Persero) Tbk                                                                            393
Page 954
     CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                                Financial
     GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                             KEUANGAN   2023
                                                                                                                Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                    62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                  B.   Market risk and liquidity risk (continued)

    (ii) Manajemen risiko suku bunga portfolio banking                  (ii) Interest rate risk management on banking book
         book (lanjutan)                                                     portfolio (continued)

         Sumber risiko suku bunga banking book adalah                        The sources of banking book’s interest rate risk are
         repricing risk (repricing mismatch antara                           repricing risk (repricing mismatch between asset
         komponen aset dan liabilitas), basis risk                           and liability components), basis risk (usage of
         (penggunaan suku bunga acuan yang berbeda),                         different interest rate reference), yield curve risk
         yield curve risk (perubahan bentuk dan slope                        (changes in shape and slope of the yield curve) and
         yield curve) dan option risk (pelunasan kredit atau                 the option risk (loan repayment or redeem of deposit
         pencairan deposito sebelum jatuh tempo). Bank                       before maturity). The Bank uses the repricing gap
         menggunakan repricing gap dan melakukan                             and performs sensitivity analysis to obtain the
         sensitivity analysis guna memperoleh proyeksi                       projected Net Interest Income (“NII”).
         perubahan Net Interest Income (“NII”).

         a.   Sensitivitas terhadap pendapatan bunga -                       a. Sensitivity of net interest income
              neto

              Tabel di bawah ini mengikhtisarkan                                The table below shows the sensitivity of net
              sensitivitas pendapatan bunga - neto Bank                         income for the next 1 year to interest rate
              Mandiri untuk 1 (satu) tahun ke depan                             movement of interest bearing assets and
              terhadap pergerakan suku bunga dari                               liabilities of Bank Mandiri as of 31 December
              portofolio aset dan liabilitas yang memiliki                      2023 and 2022 (Bank Mandiri only) as follows:
              suku bunga pada tanggal 31 Desember 2023
              dan 2022 (Bank Mandiri saja) yaitu:

                                                    Peningkatan              Penurunan
                                                      400 bps/                400 bps/
                                                    Increased by            Decreased by
                                                       400 bps                400 bps

              31 Desember 2023                                                                                 31 December 2023
              Menambah/(mengurangi)                                                                           Increase/(decrease)
                pendapatan bunga - neto                                                                       net interest income
                (Rp miliar)                                 121,23               (3.091,51)                            (Rp billion)

                                                    Peningkatan              Penurunan
                                                      400 bps/                400 bps/
                                                    Increased by            Decreased by
                                                       400 bps                400 bps

              31 Desember 2022                                                                                 31 December 2022
              Menambah/(mengurangi)                                                                           Increase/(decrease)
                pendapatan bunga - neto                                                                       net interest income
                (Rp miliar)                              (2.844,96)              (2.508,39)                            (Rp billion)

              Proyeksi di atas mengasumsikan bahwa                              The above projections assumed that all other
              seluruh variabel lainnya adalah konstan                           variables are held constant at reporting date.
              pada tanggal pelaporan keuangan.




                                                                      394                                      ANNUAL REPORT 2023     1461
Page 955
            MAIN                        MANAGEMENT                            COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                               PROFILE                          ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                     62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (ii) Manajemen risiko suku bunga portfolio banking                   (ii) Interest rate risk management on banking book
                     book (lanjutan)                                                      portfolio (continued)

                     b.   Sensitivitas pendapatan bunga untuk                             b. Sensitivity of interest income from financial
                          kelompok nilai wajar melalui pendapatan                            assets classified at fair value through other
                          komprehensif lain                                                  comprehensive income

                          Tabel di bawah ini mengikhtisarkan                                 The table below shows the sensitivity of Bank
                          sensitivitas  pendapatan    bunga     untuk                        Mandiri’s interest income from available for sale
                          kelompok nilai wajar melalui pendapatan                            marketable securities to movement of interest
                          komprehensif      lain    pada      tanggal                        rates as of 31 December 2023 and 2022 which
                          31 Desember 2023 dan 2022 yang akan                                will be due in 12 (twelve) months due to interest
                          jatuh tempo dalam 12 (dua belas) bulan atas                        rate changes (Bank Mandiri only) as follows:
                          perubahan tingkat suku bunga (Bank Mandiri
                          saja) yaitu:

                                                                Peningkatan               Penurunan
                                                                  400 bps/                 400 bps/
                                                                Increased by             Decreased by
                                                                   400 bps                 400 bps

                          31 Desember 2023                                                                                  31 December 2023
                          Menambah/(mengurangi)                                                                            Increase/(decrease)
                            pendapatan bunga                                                                                  interest income
                            (Rp miliar)                                   211,72                (212,08)                           (Rp billion)

                                                                Peningkatan               Penurunan
                                                                  400 bps/                 400 bps/
                                                                Increased by             Decreased by
                                                                   400 bps                 400 bps

                          31 Desember 2022                                                                                  31 December 2022
                          Menambah/(mengurangi)                                                                            Increase/(decrease)
                            pendapatan bunga                                                                                  interest income
                            (Rp miliar)                                   197,38                (195,37)                           (Rp billion)

                          Proyeksi di atas mengasumsikan bahwa                               The above projections assumed that all other
                          seluruh variabel lainnya adalah konstan                            variables are held constant at reporting date.
                          pada tanggal pelaporan keuangan.

                          Sensitivitas pendapatan bunga untuk                                The sensitivities of interest income from fair
                          kelompok nilai wajar melalui pendapatan                            value through other comprehensive income
                          komprehensif lain, tidak memperhitungkan                           without considering the effect off hedging and
                          efek dari lindung nilai dan tindakan-tindakan                      actions that Bank Mandiri would take to mitigate
                          Bank Mandiri untuk mengurangi risiko atas                          the impact of this interest rate risk. In practice,
                          tingkat suku bunga. Dalam kenyataannya,                            Bank Mandiri proactively seeks to mitigate the
                          Bank Mandiri secara proaktif melakukan                             effect of prospective interest movements.
                          mitigasi atas efek prospektif pergerakan
                          tingkat suku bunga.

                     c.   Eksposur Bank Mandiri terhadap             risiko               c. Bank Mandiri’s exposure to interest rate risk
                          tingkat suku bunga (repricing gap)                                 (repricing gap)

                          Tabel di bawah ini mengikhtisarkan aset dan                        The tables below summarise Bank Mandiri’s
                          liabilitas keuangan Bank Mandiri pada nilai                        financial asset and liabilities at carrying
                          tercatat, yang dikategorikan menurut mana                          amounts categorised by earlier of contractual
                          yang lebih dulu antara tanggal repricing                           repricing date or maturity dates:
                          secara kontraktual (contractual repricing) atau
                          tanggal jatuh tempo:



1462 PT Bank Mandiri (Persero) Tbk                                                 395
Page 956
     CORPORATE                                   ESG COMMITMENTS                                        SOCIAL AND ENVIRONMENTAL                                                 LAPORAN
                                                                                                                                                                                   Financial
     GOVERNANCE                                  & PRACTICES                                            RESPONSIBILITY                                                           KEUANGAN   2023
                                                                                                                                                                                   Statements 2023


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                              31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                     (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                        62. RISK MANAGEMENT (continued)
    B.   Risiko pasar dan risiko likuiditas (lanjutan)                                                         B.     Market risk and liquidity risk (continued)
    (ii) Manajemen risiko suku bunga portfolio banking                                                         (ii) Interest rate risk management on banking book
         book (lanjutan)                                                                                            portfolio (continued)
          c.      Eksposur Bank Mandiri terhadap risiko                                                               c. Bank Mandiri’s exposure to interest rate risk
                  tingkat suku bunga (repricing gap) (lanjutan)                                                          (repricing gap) (continued)
                                                                                                        2023

                                                                       Dikenakan bunga/Interest bearing
                                          Lebih dari    Lebih dari
                                         1 bulan tapi 3 bulan tapi    Lebih dari    Lebih dari    Lebih dari    Lebih dari
                            Kurang dari   tidak lebih   tidak lebih  1 tahun tapi 2 tahun tapi 3 tahun tapi 4 tahun tapi
                               sama      dari 3 bulan/ dari 1 tahun/ tidak lebih    tidak lebih   tidak lebih   tidak lebih
                              dengan        Over 1        Over 3     dari 2 tahun/ dari 3 tahun/ dari 4 tahun/ dari 5 tahun/                  Tidak
                              1 bulan/    month but    months but Over 1 year Over 2 years Over 3 years Over 4 years                       dikenakan
                            Less than or   not more      not more       but not       but not       but not       but not     Lebih dari     bunga/
                              equal to       than           than      more than     more than     more than     more than      5 tahun/   Non interest
                              1 month      3 months        1 year       2 years       3 years       4 years       5 years    Over 5 years   bearing                                 Total

                                                                                                                                                                                              Current accounts
         Giro pada                                                                                                                                                                                  with Bank
          Bank Indonesia          -                      -               -              -                -                 -               -               -    108.605.322      108.605.322        Indonesia
         Giro pada                                                                                                                                                                            Current accounts
          bank lain      34.531.618                      -               -              -                -                 -               -               -      2.074.472       36.606.090 with other banks
         Penempatan pada                                                                                                                                                                       Placements with
          Bank Indonesia                                                                                                                                                                      Bank Indonesia
          dan bank lain  55.184.180            1.417.743          78.823                -                -                 -               -                -    17.207.411       73.888.157 and other banks
                                                                                                                                                                                                     Marketable
         Efek-efek           22.838.409        7.271.250       9.799.260       5.322.235      4.246.938         8.232.473        2.228.168       6.167.194       28.590.189       94.696.116        securities
         Obligasi
           pemerintah            936.853       5.792.369      16.768.419      22.549.891     28.136.168        13.652.381       10.117.146     167.590.272       43.639.472      309.182.971
                                                                                                                                                                                          Government bonds
         Tagihan lainnya -                                                                                                                                                                Other receivables
           transaksi                                                                                                                                                                                  - trade
           perdagangan         5.403.887      11.847.619       7.534.017                -                -                 -               -     1.259.030                -    26.044.553    transactions
         Tagihan atas                                                                                                                                                                               Securities
           efek-efek yang                                                                                                                                                                      purchased
           dibeli dengan janji                                                                                                                                                               under resale
           dijual kembali   22.689.183              2.772            973                -                -                 -               -                -             -    22.692.928     agreements
         Tagihan                                                                                                                                                                                   Derivative
           derivatif               6.819                 -       261.822        169.585             92.038          43.732         448.145           55.226         917.564     1.994.931     receivables
         Kredit yang diberikan                                                                                                                                                                     Loans and
           dan piutang/                                                                                                                                                                                sharia
           pembiayaan                                                                                                                                                                        receivables/
           syariah*)       217.328.322       507.823.263     215.974.740      55.468.468     32.162.877        15.190.784       10.272.960      67.703.244      237.907.537 1.359.832.195       financing*)
         Piutang                                                                                                                                                                                   Consumer
           pembiayaan                                                                                                                                                                             financing
           konsumen            1.216.323       2.344.176       9.310.284       9.500.663      6.086.582         3.138.168        1.089.394           64.206               -    32.749.796     receivables
         Investasi bersih                                                                                                                                                                   Net investment
           dalam sewa                                                                                                                                                                                finance
           pembiayaan            301.803         587.456       2.182.092       1.642.968        643.162            116.788          14.973                  -             -     5.489.242             leases
         Tagihan                                                                                                                                                                                Acceptance
           akseptasi                   -               -               -              -               -                 -                  -                -    14.793.888    14.793.888     receivables
         Aset lain-lain      15.785.032          347.421       4.183.583        992.615       2.679.499         2.299.589                  -                -       296.998    26.584.737      Other assets
                             376.222.429     537.434.069     266.094.013      95.646.425     74.047.264        42.673.915       24.170.786     242.839.172      454.032.853 2.113.160.926

         Simpanan                                                                                                                                                                                   Deposits from
           nasabah                                                                                                                                                                                   customers
                                                                                                                                                                                               Demand deposits
           Giro dan                                                                                                                                                                               and wadiah
            giro wadiah 310.235.906            6.233.119      28.049.036      37.398.714     37.398.714        37.398.714       37.398.714      37.398.714       20.847.525      552.359.156 demand deposits
           Tabungan dan                                                                                                                                                                        Saving deposits
            tabungan    128.443.425            9.466.517      42.425.476      56.434.347     56.390.124        56.365.914       56.369.579      56.369.733       47.026.374      509.291.489      and wadiah
            Wadiah                                                                                                                                                                            saving deposits
           Deposito                                                                                                                                                                                        Time
            berjangka   174.166.615           96.239.651      15.319.326       4.071.912                 -                 -               -                -                -   289.797.504          deposits
         Simpanan dari                                                                                                                                                                              Deposits from
           bank lain                                                                                                                                                                                other banks
                                                                                                                                                                                               Demand deposits,
                                                                                                                                                                                             wadiah demand
           Giro,                                                                                                                                                                                     deposits
             giro wadiah                                                                                                                                                                           and saving
             dan tabungan 2.163.848              123.848         557.317        743.089         743.089            743.089         743.089         743.089          133.125        6.693.583          deposits
           Interbank call                                                                                                                                                                         Interbank call
             money             4.358.522       2.235.673         687.701                -                -                 -               -                -                -     7.281.896           money
           Deposito                                                                                                                                                                                        Time
             berjangka         1.932.928         985.930         790.443                -                -                 -               -                -                -     3.709.301          deposits
         Liabilitas atas                                                                                                                                                                                Securities
           efek-efek yang                                                                                                                                                                            sold under
           dijual dengan janji                                                                                                                                                                      agreements
           dibeli kembali              -                 -    14.797.950       1.647.789     13.137.601         4.821.862        1.924.862                  -                -    36.330.064     to repurchase
         Liabilitas                                                                                                                                                                                     Derivative
           derivatif              28.975            7.717        373.278        156.490         108.802             24.643         430.159           17.685          966.104       2.113.853           payables
         Liabilitas                                                                                                                                                                                   Acceptance
           akseptasi                   -                 -               -              -                -                 -               -               -     14.793.888       14.793.888           payables
         Efek-efek yang                                                                                                                                                                            Debt securities
           diterbitkan                 -         200.000      17.162.101       9.247.021     16.436.111         2.021.773        3.668.974                  -     1.781.784       50.517.764             issued
         Beban yang
           masih harus                                                                                                                                                                                 Accrued
           dibayar                     -               -               -              -               -                    -               -                -     4.799.446        4.799.446        expenses
         Liabilitas lain-lain 11.718.324       1.370.402       3.718.375        211.261         783.707                    -               -                -       287.424       18.089.493    Other liabilities
         Pinjaman yang                                                                                                                                                                                  Fund
           diterima            6.734.351      12.168.860      34.416.051      10.253.388     15.133.164         1.122.090          885.004       2.056.247       12.676.304       95.445.459      borrowings
         Pinjaman dan                                                                                                                                                                        Subordinated loans
           efek-efek                                                                                                                                                                          and marketable
           subordinasi                 -                 -               -              -                -                 -               -       215.171                   -       215.171       securitites
                             639.782.894     129.031.717     158.297.054     120.164.011    140.131.312       102.498.085      101.420.381      96.800.639      103.378.974 1.591.438.067

         Total                                                                                                                                                                                       Total interest
          repricing gap                                                                                                                                                                                 repricing
          suku bunga (263.560.465)           408.402.352     107.796.958 (24.517.586)       (66.084.048)      (59.824.170)     (77.249.595)    146.038.533      350.653.879      521.655.858                 gap

         *)    Termasuk piutang/dan pembiayaan Entitas Anak yang menjalankan usaha secara syariah                     *)   Represent receivables/and financing from subsidiary engaged in sharia business which earn
               dimana menerima imbalan berupa margin dan bagi hasil                                                        margin and profit sharing.




                                                                                                             396                                                                  ANNUAL REPORT 2023                   1463
Page 957
            MAIN                                       MANAGEMENT                                               COMPANY                                              MANAGEMENT DISCUSSION &
            HIGHLIGHTS                                 REPORTS                                                  PROFILE                                              ANALYSIS


                                                                         PT BANK MANDIRI (PERSERO) Tbk.
                                                                    DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                     NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                            FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                            31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                   (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                       62. RISK MANAGEMENT (continued)
                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                                       B.     Market risk and liquidity risk (continued)
                (ii) Manajemen risiko suku bunga portfolio banking                                                       (ii) Interest rate risk management on banking book
                     book (lanjutan)                                                                                          portfolio (continued)
                      c.      Eksposur Bank Mandiri terhadap risiko                                                             c. Bank Mandiri’s exposure to interest rate risk
                              tingkat suku bunga (repricing gap) (lanjutan)                                                        (repricing gap) (continued)
                                                                                                                  2022

                                                                                   Dikenakan bunga/Interest bearing
                                                      Lebih dari    Lebih dari
                                                     1 bulan tapi 3 bulan tapi    Lebih dari    Lebih dari    Lebih dari    Lebih dari
                                        Kurang dari   tidak lebih   tidak lebih  1 tahun tapi 2 tahun tapi 3 tahun tapi 4 tahun tapi
                                           sama      dari 3 bulan/ dari 1 tahun/ tidak lebih    tidak lebih   tidak lebih   tidak lebih
                                          dengan        Over 1        Over 3     dari 2 tahun/ dari 3 tahun/ dari 4 tahun/ dari 5 tahun/                  Tidak
                                          1 bulan/    month but    months but Over 1 year Over 2 years Over 3 years Over 4 years                       dikenakan
                                        Less than or   not more      not more       but not       but not       but not       but not     Lebih dari     bunga/
                                          equal to       than           than      more than     more than     more than     more than      5 tahun/   Non interest
                                          1 month      3 months        1 year       2 years       3 years       4 years       5 years    Over 5 years   bearing                               Total

                                                                                                                                                                                                        Current accounts
                     Giro pada                                                                                                                                                                                with Bank
                      Bank Indonesia          -                      -               -              -              -                 -               -               -    107.349.158      107.349.158        Indonesia
                     Giro pada                                                                                                                                                                          Current accounts
                      bank lain      46.942.493                      -               -              -              -                 -               -               -        867.492       47.809.985 with other banks
                     Penempatan pada                                                                                                                                                                     Placements with
                      Bank Indonesia                                                                                                                                                                    Bank Indonesia
                      dan bank lain  59.871.447           18.189.718         813.977                -              -                 -               -                -    16.448.970       95.324.112 and other banks
                                                                                                                                                                                                               Marketable
                     Efek-efek           27.304.503        4.753.460      11.373.818       2.232.774      5.178.828       4.164.373        7.949.157       7.984.497       11.899.599       82.841.009          securities
                     Obligasi
                       pemerintah                  -       1.758.432      32.327.315      26.903.013     20.823.660      28.892.146       13.370.029     156.176.410       48.960.759   329.211.764 Government bonds
                     Tagihan lainnya -                                                                                                                                                               Other receivables
                       transaksi                                                                                                                                                                                 - trade
                       perdagangan         7.730.659      13.705.811      10.994.926                -              -                 -               -     1.227.446          134.422    33.793.264     transactions
                     Tagihan atas                                                                                                                                                                              Securities
                       efek-efek yang                                                                                                                                                                      purchased
                       dibeli dengan janji                                                                                                                                                              under resale
                       dijual kembali   11.553.946           148.690            3.353               -              -                 -               -                -             -    11.705.989      agreements
                     Tagihan                                                                                                                                                                                  Derivative
                       derivatif                 112         109.292          91.418        368.201         425.929          181.088          34.449         382.663          658.989     2.252.141       receivables
                     Kredit yang diberikan                                                                                                                                                                    Loans and
                       dan piutang/                                                                                                                                                                               sharia
                       pembiayaan                                                                                                                                                                        receivables/
                       syariah*)       159.404.187       440.731.032     179.148.448      51.263.505     33.819.636      20.251.016       16.303.925      65.471.128      206.207.005 1.172.599.882        financing*)
                     Piutang                                                                                                                                                                                  Consumer
                       pembiayaan                                                                                                                                                                            financing
                       konsumen              911.436       1.734.186       6.932.199       7.142.114      4.268.099       2.052.898          696.598           20.197               -    23.757.727       receivables
                     Investasi bersih                                                                                                                                                                  Net investment
                       dalam sewa                                                                                                                                                                               finance
                       pembiayaan            293.167         565.276       2.227.257       2.013.057        697.891           70.431            5.481                 -             -     5.872.560              leases
                     Tagihan                                                                                                                                                                                Acceptance
                       akseptasi                   -               -               -              -               -               -                  -                -    11.781.581    11.781.581       receivables
                     Aset lain-lain      10.218.610          311.590         672.047        717.761       1.442.316       4.583.286                  -                -       224.689    18.170.299        Other assets
                                         324.230.560     482.007.487     244.584.758      90.640.425     66.656.359      60.195.238       38.359.639     231.262.341      404.532.664 1.942.469.471

                     Simpanan                                                                                                                                                                                 Deposits from
                       nasabah                                                                                                                                                                                 customers
                                                                                                                                                                                                      Demand deposits
                       Giro dan                                                                                                                                                                             and wadiah
                        giro wadiah 291.820.938            5.787.582      26.044.120      34.725.494     34.725.494      34.725.494       34.725.494      34.725.494       21.797.852      519.077.962 demand deposits
                       Tabungan dan                                                                                                                                                                      Saving deposits
                        tabungan                                                                                                                                                                            and wadiah
                        Wadiah      117.250.557            9.319.616      40.540.150      53.847.818     53.841.562      53.825.574       53.816.266      53.826.818       44.214.405      480.482.766 saving deposits
                       Deposito                                                                                                                                                                                      Time
                        berjangka   188.200.251           79.765.659      19.333.948       8.715.253              90                 -               -                -                -   296.015.201          deposits
                     Simpanan dari                                                                                                                                                                            Deposits from
                       bank lain                                                                                                                                                                              other banks
                                                                                                                                                                                                       Demand deposits,
                                                                                                                                                                                                       wadiah demand
                       Giro,                                                                                                                                                                                   deposits
                         giro wadiah                                                                                                                                                                         and saving
                         dan tabungan 1.804.288              106.660         479.968        639.958         639.958          639.958         639.958         639.958          143.695        5.734.401          deposits
                       Interbank call                                                                                                                                                                       Interbank call
                         money               470.171         492.560       3.273.370                -       200.000                  -               -                -                -     4.436.101           money
                       Deposito                                                                                                                                                                                      Time
                         berjangka         2.805.712         763.255         796.589        311.351                -                 -               -                -                -     4.676.907          deposits
                     Liabilitas atas                                                                                                                                                                              Securities
                       efek-efek yang                                                                                                                                                                          sold under
                       dijual dengan janji                                                                                                                                                                    agreements
                       dibeli kembali         19.620       1.115.477       9.584.004       3.942.252      1.680.640       7.197.522          785.960                  -                -    24.325.475     to repurchase
                     Liabilitas                                                                                                                                                                                   Derivative
                       derivatif              21.009         273.015         386.856        533.048         258.488           63.631          27.676         315.472           247.574       2.126.769           payables
                     Liabilitas                                                                                                                                                                                 Acceptance
                       akseptasi                   -                 -               -              -              -                 -               -               -     11.781.581       11.781.581           payables
                     Efek-efek yang                                                                                                                                                                          Debt securities
                       diterbitkan                 -                 -     5.173.294      17.299.323      9.228.989       8.619.250        2.003.283                  -     3.450.000       45.774.139             issued
                     Beban yang
                       masih harus                                                                                                                                                                               Accrued
                       dibayar                     -               -                 -              -             -                  -               -                -     6.493.794        6.493.794        expenses
                     Liabilitas lain-lain 7.381.795          965.537                 -              -       868.035                  -               -                -       323.394        9.538.761    Other liabilities
                     Pinjaman yang                                                                                                                                                                                Fund
                       diterima            7.570.990       8.949.929      29.103.550       7.336.634      4.778.940       2.872.123          314.577       1.135.000          778.375       62.840.118      borrowings
                     Pinjaman dan                                                                                                                                                                     Subordinated loans
                       efek-efek                                                                                                                                                                        and marketable
                       subordinasi                 -                 -               -              -              -                 -               -       633.333                   -       633.333       securitites
                                         617.345.331     107.539.290     134.715.849     127.351.131    106.222.196     107.943.552       92.313.214      91.276.075       89.230.670 1.473.937.308

                     Total                                                                                                                                                                                     Total interest
                      repricing gap                                                                                                                                                                               repricing
                      suku bunga (293.114.771)           374.468.197     109.868.909 (36.710.706)       (39.565.837)    (47.748.314)     (53.953.575)    139.986.266      315.301.994      468.532.163                 gap

                     *)    Termasuk piutang/dan pembiayaan Entitas Anak yang menjalankan usaha secara syariah                   *)   Represent receivables/and financing from subsidiary engaged in sharia business which earn
                           dimana menerima imbalan berupa margin dan bagi hasil                                                      margin and profit sharing.




1464 PT Bank Mandiri (Persero) Tbk                                                                                     397
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     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)            B.   Market risk and liquidity risk (continued)

    (ii) Manajemen risiko suku bunga portfolio banking            (ii) Interest rate risk management on banking book
         book (lanjutan)                                               portfolio (continued)

         Untuk mengetahui dampak perubahan suku                        To assess the impact of changes in interest rates
         bunga dan nilai tukar pada kondisi ekstrim (krisis)           and exchange rates at extreme conditions (crisis) to
         terhadap pendapatan dan modal, Bank                           earnings and capital, the Bank conducts stress
         melakukan stress testing risiko pasar banking                 testing on the market risk of banking book regularly.
         book secara berkala.

    (iii) Manajemen pricing                                       (iii) Pricing management

         Bank menerapkan kebijakan pricing baik untuk                  The Bank implements pricing policy for loans or
         produk dana maupun produk kredit. Kebijakan                   deposit products. The pricing policy is one of the
         pricing merupakan salah satu strategi untuk                   Bank’s strategy to maximise Net Interest Margin
         memaksimalkan Net Interest Margin (“NIM”) dan                 (“NIM”) and to support the Bank to dominate the
         sekaligus mendukung Bank menguasai market                     market share by considering the competition
         share dengan mempertimbangkan kondisi                         condition.
         persaingan.

         Bank secara konsisten berupaya menerapkan                     The Bank consistently manages to apply the
         strategi sebagai market leader dalam hal pricing              strategy as market leader in terms of fund pricing.
         pendanaan.       Namun       demikian,       dengan           However, considering the liquidity conditions and
         mempertimbangkan         kondisi   likuiditas   dan           funding needs, the Bank may implement an
         kebutuhan dana, Bank dapat menerapkan                         aggressive    strategy    (greater   than    major
         strategi agresif (lebih besar dari pesaing utama)             competitors) or defensive (equal to or smaller than
         atau defensif (sama atau lebih kecil dari pesaing             major competitors).
         utama).

         Dalam menetapkan suku bunga kredit, Bank                      In determine interest rates, the Bank implements
         menerapkan risk based pricing yaitu pemberian                 risk-based pricing by providing a range of interest
         suku bunga kredit kepada nasabah bervariasi                   rate of loan to customers based on credit risk level.
         berdasarkan tingkat risiko kreditnya. Dalam                   In order to minimize interest rate risk, the loan
         rangka meminimalkan risiko suku bunga, maka                   interest rate is adjusted with interest rate from cost
         suku bunga kredit disesuaikan dengan suku                     of funds. Other than cost of funds, loan interest
         bunga sumber dana pembiayaan. Selain biaya                    rates are determined with consideration to
         dana, suku bunga kredit ditetapkan dengan                     overhead costs, credit risk premiums and profit
         mempertimbangkan biaya overhead, premi risiko                 margins as well as taking into account the Bank's
         kredit dan marjin keuntungan Bank dengan tetap                competitiveness with its major competitors. Interest
         memperhatikan competitiveness dengan pesaing                  rates for loan can be either a floating or a fixed rate
         utama. Suku bunga kredit dapat berupa suku                    for certain tenors.
         bunga mengambang (floating rate) atau suku
         bunga tetap (fixed rate) untuk tenor tertentu.




                                                                398                                       ANNUAL REPORT 2023     1465
Page 959
            MAIN                        MANAGEMENT                          COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                             PROFILE                        ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)               B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar                                (iv) Foreign exchange risk management

                     Risiko nilai tukar adalah potensi kerugian yang                  Exchange rate risk represents potential loss arising
                     timbul akibat pergerakan nilai tukar di pasar yang               from unfavourable exchange rate movements in
                     berlawanan pada saat Bank memiliki posisi                        the market when the Bank has an open position.
                     terbuka. Bank menerapkan manajemen risiko                        The Bank applies a proper foreign exchange risk
                     nilai tukar yang memadai sehingga terhindar dari                 management to avoid loss arising from exchange
                     kerugian akibat perubahan atau volatilitas nilai                 rate changes or volatility. Exchange rate risk arises
                     tukar. Risiko nilai tukar berasal dari transaksi                 from foreign exchange currency transactions with
                     valuta asing dengan nasabah atau counterparty                    customer or counterparty which leads to an open
                     yang menyebabkan posisi terbuka dalam valuta                     position in foreign currency or structural positions
                     asing maupun posisi struktural dalam valuta                      in foreign currencies due to capital investment. The
                     asing akibat penyertaan modal. Bank mengelola                    Bank manages exchange rate risk by monitoring
                     risiko nilai tukar dengan melakukan pemantauan                   and managing the Net Open Position (“NOP”) in
                     dan pengelolaan Posisi Devisa Neto (“PDN”)                       accordance with internal limits and the regulation
                     sesuai dengan limit internal dan ketentuan Bank                  of Bank Indonesia.
                     Indonesia.

                     Perhitungan PDN pada tanggal 31 Desember                         The calculation of the net open position as of
                     2023 dan 2022 berdasarkan Peraturan Bank                         31 December 2023 and 2022 is based on Bank
                     Indonesia No. 12/10/PBI/2010 tanggal 1 Juli 2010                 Indonesia’s Regulation No. 12/10/PBI/2010 dated
                     yang telah diperbaharui oleh Peraturan Bank                      1 July 2010 which amended by Bank Indonesia’s
                     Indonesia No. 17/5/PBI/2015 tanggal 29 Mei                       Regulation No. 17/5/PBI/2015 dated on 29 May
                     2015 yang mengatur mengenai penghapusan                          2015 regarding removal implementation NOP 30
                     peraturan PDN 30 menit. Sesuai dengan                            minutes. In accordance with Bank Indonesia
                     Peraturan Bank Indonesia, rasio PDN secara                       Regulation, the overall NOP ratio is the total
                     keseluruhan adalah penjumlahan nilai absolut                     absolute amount from the net difference between
                     dari selisih bersih antara aset dan liabilitas dalam             assets and liabilities for each foreign currency on
                     laporan posisi keuangan untuk setiap mata uang                   statement of financial position which presented in
                     asing yang dinyatakan dalam Rupiah ditambah                      Rupiah added with the net difference between
                     dengan selisih bersih dari tagihan dan liabilitas                receivables and payables of commitments and
                     komitmen dan kontinjensi, yang dicatat dalam                     contingencies for each foreign currency recorded
                     rekening administratif, untuk setiap mata uang                   in administrative which presented in Rupiah. The
                     asing,      yang   dinyatakan     dalam      Rupiah,             net open position for the statement of financial
                     sedangkan PDN untuk laporan posisi keuangan                      position is the net difference between total assets
                     adalah selisih bersih jumlah aset dan jumlah                     and liabilities for each foreign currency which
                     liabilitas dalam mata uang asing yang dinyatakan                 presented in Rupiah. As of 20 March 2020, in
                     dalam Rupiah. Terhitung tanggal 20 Maret 2020                    accordance with BI Letter No. 22/53/DPPK/Srt/B,
                     sesuai dengan Surat BI No. 22/53/DPPK/Srt/B,                     Domestic Non-Deliverable Forward (“DNDF”)
                     transaksi Domestic Non-Deliverable Forward                       transactions are included in the NOP calculation.
                     (“DNDF”) disertakan ke dalam perhitungan PDN.




1466 PT Bank Mandiri (Persero) Tbk                                             399
Page 960
     CORPORATE                             ESG COMMITMENTS                                  SOCIAL AND ENVIRONMENTAL                                          LAPORAN
                                                                                                                                                                Financial
     GOVERNANCE                            & PRACTICES                                      RESPONSIBILITY                                                    KEUANGAN   2023
                                                                                                                                                                Statements 2023


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                             62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                                          B.     Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                                                (iv) Foreign exchange risk management (continued)

         a.   Posisi devisa neto                                                                       a.    Net open position

              Posisi devisa neto Bank Mandiri saja                                                           Net open position of Bank Mandiri by
              berdasarkan mata uang (dinyatakan dalam                                                        currencies (expressed in Rupiah) as of
              Rupiah) pada tanggal 31 Desember 2023                                                          31 December 2023 as follows:
              adalah sebagai berikut:
                                                                                                                      Posisi devisa
                                                                      Aset/                  Liabilitas/                  neto/
                             Mata uang                               Assets                  Liabilities            Net open position                             Currency


              KESELURUHAN (LAPORAN                                                                                                                        OVERALL (STATEMENT OF
                POSISI KEUANGAN                                                                                                                              FINANCIAL POSITION
                DAN REKENING                                                                                                                                AND ADMINISTRATIVE
                ADMINISTRATIF)***)                                                                                                                                 ACCOUNTS)***)

                    Dolar Amerika Serikat                             658.885.858              658.829.939                         55.919                       United States Dollar
                    Euro Eropa                                         17.924.221               16.122.873                      1.801.348                             European Euro
                    Dolar Singapura                                     3.594.607                3.438.009                        156.598                            Singapore Dollar
                    Yen Jepang                                         17.300.152               17.588.924                        288.772                              Japanese Yen
                    Dolar Australia                                     1.689.872                1.670.540                         19.332                            Australian Dollar
                    Pound Sterling Inggris                              1.449.552                1.342.238                        107.314                Great Britain Pound Sterling
                    Dolar Hong Kong                                       106.466                  211.512                        105.046                          Hong Kong Dollar
                    Lain-lain                                          14.744.111               14.527.848                        296.025*)                                    Others

              Total                                                                                                             2.830.354                                                Total


              LAPORAN POSISI                                                                                                                                        STATEMENT OF
                KEUANGAN                                                                                                                                      FINANCIAL POSITION

                    Dolar Amerika Serikat                             528.192.185              525.158.737                      3.033.448                         United State Dollar
                    Euro Eropa                                         16.242.207                9.062.486                      7.179.721                             European Euro
                    Dolar Singapura                                     2.935.575                3.119.047                      (183.472)                            Singapore Dollar
                    Yen Jepang                                          6.194.585                7.269.832                    (1.075.247)                              Japanese Yen
                    Dolar Australia                                     1.612.334                  567.094                      1.045.240                            Australian Dollar
                    Pound Sterling Inggris                                849.372                  309.567                        539.805                Great Britain Pound Sterling
                    Dolar Hong Kong                                       106.466                  103.794                          2.672                          Hong Kong Dollar
                    Lain-lain                                          12.294.149               11.080.137                      1.214.012                                      Others

              Total                                                                                                            11.756.179                                                Total

              Total Modal (Catatan 58)                                                                                       221.988.279                          Total Capital (Note 58)


              Rasio PDN (laporan posisi                                                                                                               NOP ratio (statement of financial
                keuangan)                                                                                                            5,30%                                position)
              Rasio PDN (keseluruhan)                                                                                                1,28%                          NOP ratio (overall)

              Rasio PDN pada tanggal 31 Desember 2023                                                        Net Open Position ratio as of 31 December
              jika menggunakan modal bulan November                                                          2023 if calculated using November 2023 capital
              2023 adalah sebagai berikut:                                                                   as follows:

              Modal bulan November 2023/November 2023 Capital                                                                                                                   214.772.668
              Rasio PDN (laporan posisi keuangan)/NOP ratio (Statement of financial position)                                                                                        5,47%
              Rasio PDN (keseluruhan)***) /NOP ratio (overall)
                                                              ***)
                                                                                                                                                                                     1,32%
              *)
                   Merupakan penjumlahan absolut dari selisih antara aset dan liabilitas                     *)
                                                                                                                    Represents total absolute amount of difference between assets and liabilities
                   beberapa mata uang asing lainnya.                                                                from other foreign currencies.
              **)
                   Merupakan penjumlahan dari selisih antara aset dan liabilitas beberapa                    **)
                                                                                                                    Represents total amount of difference between assets and liabilities from
                   mata uang asing lainnya.                                                                         other foreign currencies.
              ***)
                   Perhitungan posisi devisa neto bank berdasarkan pada Peraturan Bank                       ***)
                                                                                                                    The calculation of Bank’s net open position is based on Bank Indonesia’s
                   Indonesia No. 12/10/PBI/2010 tanggal 1 Juli 2010 dan Peraturan Bank                              regulation No. 12/10/PBI/2010 dated 1 July 2010 and Bank Indonesia’s
                   Indonesia No. 17/5/PBI/2015 tanggal 29 Mei 2015 tentang Perubahan                                regulation No. 17/5/PBI/2015 dated 29 May 2015 regarding the Fourth
                   Keempat atas Peraturan Bank Indonesia Nomor 5/13/PBI/2003 tentang                                amendment of Bank Indonesia’s regulation No. 5/13/PBI/2003 regarding net
                   Posisi Devisa Neto Bank Umum. Berdasarkan peraturan tersebut, mulai                              open position for Commercial Banks. Under the regulation, starting on 1 July
                   tanggal 1 Juli 2010, Bank hanya diwajibkan untuk menjaga posisi devisa                           2010, the Bank is only required to keep the net open position of a maximum
                   neto secara keseluruhan maksimum 20% dari total modal.                                           of 20% of total capital.




                                                                                              400                                                               ANNUAL REPORT 2023                  1467
Page 961
            MAIN                                MANAGEMENT                                              COMPANY                                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                          REPORTS                                                 PROFILE                                         ANALYSIS


                                                                  PT BANK MANDIRI (PERSERO) Tbk.
                                                             DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                          NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                 FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                 31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                        (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                               62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                            B.     Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                                                  (iv) Foreign exchange risk management (continued)

                     a.   Posisi devisa neto (lanjutan)                                                              a.    Net open position (continued)

                          Posisi devisa neto Bank Mandiri saja                                                             Net open position of Bank Mandiri by
                          berdasarkan mata uang (dinyatakan dalam                                                          currencies (expressed in Rupiah) as of 31
                          Rupiah) pada tanggal 31 Desember 2022                                                            December 2022 as follows:
                          adalah sebagai berikut:

                                                                                                                                    Posisi devisa
                                                                                  Aset/                    Liabilitas/                  neto/
                                         Mata uang                               Assets                    Liabilities            Net open position                             Currency


                          KESELURUHAN (LAPORAN                                                                                                                          OVERALL (STATEMENT OF
                            POSISI KEUANGAN                                                                                                                                FINANCIAL POSITION
                            DAN REKENING                                                                                                                                  AND ADMINISTRATIVE
                            ADMINISTRATIF)***)                                                                                                                                   ACCOUNTS)***)

                                Dolar Amerika Serikat                             524.409.895                508.580.003                     15.829.892                       United States Dollar
                                Euro Eropa                                         10.844.334                  9.992.720                        851.614                             European Euro
                                Dolar Singapura                                     2.640.684                  2.543.488                         97.196                            Singapore Dollar
                                Yen Jepang                                          2.402.384                  4.127.125                      1.724.741                              Japanese Yen
                                Dolar Australia                                       769.369                    769.738                            369                            Australian Dollar
                                Pound Sterling Inggris                                393.129                    320.493                         72.636                Great Britain Pound Sterling
                                Dolar Hong Kong                                       428.447                    472.419                         43.972                          Hong Kong Dollar
                                Lain-lain                                           6.252.849                  6.220.348                        150.817*)                                    Others

                          Total                                                                                                              18.771.237                                                Total


                          LAPORAN POSISI                                                                                                                                          STATEMENT OF
                            KEUANGAN                                                                                                                                        FINANCIAL POSITION

                                Dolar Amerika Serikat                             413.985.655                359.986.571                     53.999.084                         United State Dollar
                                Euro Eropa                                          7.724.690                  3.663.825                      4.060.865                             European Euro
                                Dolar Singapura                                     2.150.185                  2.413.548                      (263.363)                            Singapore Dollar
                                Yen Jepang                                          1.892.054                  1.675.413                        216.641                              Japanese Yen
                                Dolar Australia                                       558.428                    257.983                        300.445                            Australian Dollar
                                Pound Sterling Inggris                                364.771                    195.646                        169.125                Great Britain Pound Sterling
                                Dolar Hong Kong                                       426.890                    376.015                         50.875                          Hong Kong Dollar
                                Lain-lain                                           5.961.568                  5.082.317                        879.251**)                                   Others

                          Total                                                                                                              59.412.923                                                Total

                          Total Modal (Catatan 58)                                                                                         191.844.453                          Total Capital (Note 58)


                          Rasio PDN (laporan posisi                                                                                                                 NOP ratio (statement of financial
                            keuangan)                                                                                                            30,97%                                 position)
                          Rasio PDN (keseluruhan)                                                                                                 9,78%                           NOP ratio (overall)


                          Rasio PDN pada tanggal 31 Desember 2022                                                          Net Open Position ratio as of 31 December
                          jika menggunakan modal bulan November                                                            2022 if calculated using November 2022 capital
                          2022 adalah sebagai berikut:                                                                     as follows:

                          Modal bulan November 2022/November 2022 Capital                                                                                                                     188.535.596
                          Rasio PDN (laporan posisi keuangan)/NOP ratio (Statement of financial position)                                                                                         31,51%
                          Rasio PDN (keseluruhan)***) /NOP ratio (overall)
                                                                          ***)
                                                                                                                                                                                                   9,96%
                          *)
                               Merupakan penjumlahan absolut dari selisih antara aset dan liabilitas                       *)
                                                                                                                                  Represents total absolute amount of difference between assets and liabilities
                               beberapa mata uang asing lainnya.                                                                  from other foreign currencies.
                          **)
                               Merupakan penjumlahan dari selisih antara aset dan liabilitas beberapa                      **)
                                                                                                                                  Represents total amount of difference between assets and liabilities from
                               mata uang asing lainnya.                                                                           other foreign currencies.
                          ***)
                               Perhitungan posisi devisa neto bank berdasarkan pada Peraturan Bank                         ***)
                                                                                                                                  The calculation of Bank’s net open position is based on Bank Indonesia’s
                               Indonesia No. 12/10/PBI/2010 tanggal 1 Juli 2010 dan Peraturan Bank                                regulation No. 12/10/PBI/2010 dated 1 July 2010 and Bank Indonesia’s
                               Indonesia No. 17/5/PBI/2015 tanggal 29 Mei 2015 tentang Perubahan                                  regulation No. 17/5/PBI/2015 dated 29 May 2015 regarding the Fourth
                               Keempat atas Peraturan Bank Indonesia Nomor 5/13/PBI/2003 tentang                                  amendment of Bank Indonesia’s regulation No. 5/13/PBI/2003 regarding net
                               Posisi Devisa Neto Bank Umum. Berdasarkan peraturan tersebut, mulai                                open position for Commercial Banks. Under the regulation, starting on 1 July
                               tanggal 1 Juli 2010, Bank hanya diwajibkan untuk menjaga posisi devisa                             2010, the Bank is only required to keep the net open position of a maximum
                               neto secara keseluruhan maksimum 20% dari total modal.                                             of 20% of total capital.




1468 PT Bank Mandiri (Persero) Tbk                                                                          401
Page 962
     CORPORATE                               ESG COMMITMENTS                                             SOCIAL AND ENVIRONMENTAL                                              LAPORAN
                                                                                                                                                                                 Financial
     GOVERNANCE                              & PRACTICES                                                 RESPONSIBILITY                                                        KEUANGAN   2023
                                                                                                                                                                                 Statements 2023


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                  (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                                                      62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                                                       B.        Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                                                             (iv) Foreign exchange risk management (continued)

         b.   Eksposur Bank Mandiri atas risiko nilai tukar                                                            b.       Bank Mandiri exposure to foreign currency
              mata uang asing                                                                                                   exchange rate risk

              Tabel di bawah ini mengikhtisarkan eksposur                                                                       The table below summaries the Group’s
              Grup atas risiko nilai tukar mata uang asing                                                                      exposure of foreign currency exchange rate
              pada tanggal 31 Desember 2023 dan 2022.                                                                           risk as of 31 December 2023 and 2022,
              Termasuk di dalamnya adalah instrumen                                                                             Included in the table are the Group’s financial
              keuangan Grup pada nilai tercatat,                                                                                instruments at carrying amount, categorised
              dikategorikan berdasarkan jenis mata uang.                                                                        by currencies.
                                                                                                            2023
                                         Dolar                                                                                                  Pound
                                        Amerika                                                                                                Sterling
                                        Serikat/                            Dolar                           Dolar               Yuan           Inggris/
                                         United       Euro Eropa/        Singapura/       Yen Jepang/     Australia/            China/       Great Britain
                                         States        European          Singapore         Japanese       Australian           Chinese         Pound-        Lain-lain/
                                         Dollar          Euro              Dollar             Yen           Dollar              Yuan           sterling       Others            Total

              Aset                                                                                                                                                                                       Assets
              Kas                       1.784.628         411.511            195.452           63.301        308.730               4.286           62.835       380.577         3.211.320                   Cash
              Giro pada                                                                                                                                                                        Current accounts
                Bank Indonesia         12.780.622                -                    -              -                 -                 -               -                -    12.780.622 with Bank Indonesia
              Giro pada                                                                                                                                                                   Current accounts with
                bank lain              21.647.171       4.785.409            693.995        2.484.498        238.174           3.861.548          641.562     1.394.980        35.747.337          other banks
              Penempatan pada                                                                                                                                                                   Placement with
                Bank Indonesia                                                                                                                                                                 Bank Indonesia
                dan bank lain          39.408.595          34.104             23.423                -                      -     542.472                 -                -    40.008.594     and other banks
              Efek-efek                20.013.249                    -       278.097              893                      -      22.272                 -                -    20.314.511 Marketable securities
              Obligasi pemerintah      51.651.407       1.136.362                  -                -                      -           -                 -                -    52.787.769    Government bonds
              Tagihan lainnya -                                                                                                                                                              Other receivables -
                transaksi                                                                                                                                                                                 trade
                perdagangan            11.926.761          83.473             14.264           13.964                      -      38.089            1.218                 -    12.077.769         transactions
              Tagihan atas efek-efek -                                                                                                                                                     Securities sold under
                yang dibeli dengan -                                                                                                                                                           agreements to
                janji dijual kembali      478.523               -                     -             -                 -                -                -                 -       478.523         repurchase
              Tagihan derivatif         1.282.658          28.434                     -        52.395              435             3.619            9.389                 -     1.376.930 Derivative receivables
              Kredit yang diberikan
                dan piutang/                                                                                                                                                                   Loans and sharia
                pembiayaan                                                                                                                                                                        receivables/
                syariah              249.203.231        5.815.518            442.690            1.643        805.990           2.823.484                 -        3.976       259.096.532             financing
              Tagihan                                                                                                                                                                                Acceptance
                akseptasi               4.381.757         551.561              3.241           47.404               -            296.548                -       327.886         5.608.397          receivables
              Aset lain-lain            4.002.652          79.052                507              159          11.376             16.039               23            96         4.109.904           Other assets
              Total aset             418.561.254       12.925.424          1.651.669        2.664.257       1.364.705          7.608.357          715.027     2.107.515       447.598.208            Total asset
              Liabilitas                                                                                                                                                                              Liabilities
              Simpanan nasabah                                                                                                                                                         Deposits from customers
                                                                                                                                                                                             Demand deposits
               Giro dan                                                                                                                                                                          and wadiah
                giro wadiah          177.046.247        3.580.250            406.399          936.610          62.103          3.251.028           42.362       290.599       185.615.598 demand deposits
                                                                                                                                                                                         Saving deposits and
               Tabungan dan                                                                                                                                                                    wadiah saving
                tabungan wadiah         35.560.169        501.079            609.628        2.564.440        166.223             104.176          103.513        42.375        39.651.603           deposits
               Deposito berjangka       29.776.332         20.323            623.214          109.047         22.086             470.257            1.394        35.665        31.058.318       Time deposits
                                                                                                                                                                                                  Deposits from
              Simpanan dari bank lain                                                                                                                                                              other banks
                                                                                                                                                                                            Demand deposits,
                Giro. giro wadiah                                                                                                                                                            wadiah demand
                  dan                                                                                                                                                                           deposits and
                  tabungan               2.427.071            641              1.192              443                      -         495                 -            45        2.429.887    saving deposits
                Interbank call money 4.927.040                  -                  -                -                      -   2.039.856                 -             -        6.966.896 Interbank call money
                Deposito berjangka       3.125.591              -                  -                -                      -           -                 -             -        3.125.591       Time deposits
              Liabilitas atas efek-efek                                                                                                                                                    Securities sold under
                yang dijual dengan                                                                                                                                                              agreements to
                janji dibeli kembali    36.330.064              -                  -                -                      -           -                -             -        36.330.064          repurchase
              Liabilitas derivatif       1.322.233         27.742              5.252            1.286           2.088              3.655            4.195         7.054         1.373.505     Derivative payable
              Liabilitas akseptasi       4.381.757        551.561              3.241           47.404                      -     296.548                -       327.886         5.608.397 Acceptance payables
              Efek-efek yang                                                                                                                                                                     Debt securities
                diterbitkan             28.421.722               -                    -              -                     -             -               -                -    28.421.722                issued
              Beban yang masih
                harus dibayar              981.490          1.268             25.641              146             140             32.538              360         7.410         1.048.993     Accrued expenses
              Liabilitas lain-lain       1.759.754        241.369            204.655           22.725          69.560            933.179           19.810        99.982         3.351.034        Other liabilities
              Pinjaman yang diterima 56.499.149                 -                  -                -                      -           -                -             -        56.499.149      Fund borrowings
              Pinjaman dan                                                                                                                                                                   Subordinated loans
                efek-efek                                                                                                                                                                      and marketable
                subordinasi                115.735               -                    -              -                     -             -               -                -       115.735           securities
              Total liabilitas       382.674.354        4.924.233          1.879.222        3.682.101        322.200           7.131.732          171.634       811.016       401.596.492        Total liabilities
              Laporan posisi                                                                                                                                                                   Net statement of
               keuangan bersih          35.886.900      8.001.191          (227.553)       (1.017.844)      1.042.505            476.625          543.393     1.296.499        46.001.716    financial position
              Rekening
               administratif                                                                                                                                                                     Administrative
               bersih                   (5.747.875)    (5.378.490)           340.070          786.474     (1.025.908)           (130.300)       (432.491)     (975.166)       (12.563.685)    accounts - net




                                                                                                          402                                                                    ANNUAL REPORT 2023                  1469
Page 963
            MAIN                                 MANAGEMENT                                                 COMPANY                                                 MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                                    PROFILE                                                 ANALYSIS


                                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                                     62. RISK MANAGEMENT (continued)
                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                                     B.        Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                                                           (iv) Foreign exchange risk management (continued)
                     b.   Eksposur Bank Mandiri atas risiko nilai tukar                                                          b.    Bank Mandiri exposure to foreign currency
                          mata uang asing (lanjutan)                                                                                   exchange rate risk (continued)

                          Tabel di bawah ini mengikhtisarkan eksposur                                                                  The table below summaries the Group’s
                          Grup atas risiko nilai tukar mata uang asing                                                                 exposure of foreign currency exchange rate
                          pada tanggal 31 Desember 2023 dan 2022.                                                                      risk as of 31 December 2023 and 2022,
                          Termasuk di dalamnya adalah instrumen                                                                        Included in the table are the Group’s financial
                          keuangan Grup pada nilai tercatat,                                                                           instruments at carrying amount, categorised
                          dikategorikan berdasarkan jenis mata uang                                                                    by currencies. (continued)
                          (lanjutan).
                                                                                                                      2022
                                                   Dolar                                                                                               Pound
                                                  Amerika                                                                                             Sterling
                                                  Serikat/                         Dolar                              Dolar            Yuan           Inggris/
                                                   United        Euro Eropa/    Singapura/           Yen Jepang/    Australia/         China/       Great Britain
                                                   States         European      Singapore             Japanese      Australian        Chinese         Pound-         Lain-lain/
                                                   Dollar           Euro          Dollar                 Yen          Dollar           Yuan           sterling        Others            Total

                          Aset                                                                                                                                                                                   Assets
                          Kas                     1.091.335          364.359        617.527               45.618       349.762            6.050           38.631        171.214         2.684.496                   Cash
                          Giro pada                                                                                                                                                                    Current accounts
                           Bank Indonesia        11.570.462                 -                -                  -                -              -               -                 -    11.570.462 with Bank Indonesia
                          Giro pada                                                                                                                                                               Current accounts with
                            bank lain            40.486.950        1.510.937        667.211            1.763.801       206.781        1.476.989          328.183        731.682        47.172.534          other banks
                          Penempatan pada                                                                                                                                                               Placement with
                            Bank Indonesia                                                                                                                                                            Bank Indonesia
                            dan bank lain        64.154.089                -              -                    -                 -      358.226                 -                 -    64.512.315     and other banks
                          Efek-efek              23.702.693                -        299.119                3.245                 -       22.741                 -                 -    24.027.798 Marketable securities
                          Obligasi pemerintah    54.132.814        2.005.214                     -             -                 -            -                 -                 -    56.138.028   Government bonds
                          Tagihan lainnya -                                                                                                                                                          Other receivables -
                            transaksi                                                                                                                                                                             trade
                           perdagangan           11.999.880          380.702                     -             -               -         39.955            1.424              -        12.421.961         transactions
                          Tagihan derivatif       1.776.578           24.419                     -         5.623             449              1              324          3.064         1.810.458 Derivative receivables
                          Kredit yang diberikan
                            dan piutang/                                                                                                                                                               Loans and sharia
                            pembiayaan                                                                                                                                                                    receivables/
                            syariah             224.375.901        3.039.050        510.967                     -         1.765       2.716.345                 -                 -   230.644.028             financing
                          Tagihan                                                                                                                                                                            Acceptance
                            akseptasi             6.542.642          272.256          7.765               65.816          2.148          85.453                -        328.734         7.304.814          receivables
                          Aset lain-lain          4.062.533           48.914            443                  173             21          20.920               41              -         4.133.045           Other assets
                          Total aset             443.895.877       7.645.851      2.103.032            1.884.276       560.926        4.726.680          368.603      1.234.694       462.419.939            Total asset
                          Liabilitas                                                                                                                                                                          Liabilities
                          Simpanan nasabah                                                                                                                                                     Deposits from customers
                                                                                                                                                                                                     Demand deposits
                           Giro dan                                                                                                                                                                      and wadiah
                            giro wadiah          183.659.852       1.567.152        378.961              981.868         58.596         923.787           58.323        124.323       187.752.862 demand deposits
                                                                                                                                                                                                  Saving deposits and
                            Tabungan dan                                                                                                                                                               wadiah saving
                              tabungan wadiah       37.509.967     1.445.995        797.745              476.033       170.238          134.651          111.877         15.492        40.661.998           deposits
                            Deposito berjangka 35.652.385             58.378        983.388              106.988        21.515           96.260            8.545         48.015        36.975.474       Time deposits
                          Simpanan dari                                                                                                                                                                   Deposits from
                            bank lain                                                                                                                                                                      other banks
                            Giro,                                                                                                                                                                   Demand deposits,
                              giro wadiah                                                                                                                                                            wadiah demand
                              dan                                                                                                                                                                       deposits and
                              tabungan               2.116.637           628           965                   480                 -           39                 -                 -     2.118.749    saving deposits
                            Interbank call money 2.646.475                 -             -                     -                 -    1.589.626                 -                 -     4.236.101 Interbank call money
                            Deposito berjangka       1.945.937             -             -                     -                 -            -                 -                 -     1.945.937       Time deposits
                          Liabilitas atas efek-efek                                                                                                                                                Securities sold under
                            yang dijual dengan                                                                                                                                                          agreements to
                            janji dibeli kembali    23.191.358             -              -                    -              -               -                -              -        23.191.358          repurchase
                          Liabilitas derivatif       1.190.246        13.171              -                2.574          1.256               -               12            198         1.207.457     Derivative payable
                          Liabilitas akseptasi       6.542.642       272.256          7.765               65.816          2.148          85.453                -        328.734         7.304.814 Acceptance payables
                          Efek-efek yang                                                                                                                                                                 Debt securities
                            diterbitkan             24.034.300              -                -                  -                -              -               -                 -    24.034.300                issued
                          Beban yang masih
                            harus dibayar              838.514             -         16.459                  158            140          35.105               54          7.828           898.258     Accrued expenses
                          Liabilitas lain-lain       1.842.393       184.711        152.810               40.481          4.626         576.125           12.248         82.977         2.896.371        Other liabilities
                          Pinjaman yang diterima 41.220.246                -              -                    -              -               -                -              -        41.220.246      Fund borrowings
                          Pinjaman dan                                                                                                                                                               Subordinated loans
                            efek-efek                                                                                                                                                                  and marketable
                            subordinasi                133.564              -                -                  -                -              -               -                 -       133.564           securities
                          Total liabilitas       362.524.516       3.542.291      2.338.093            1.674.398       258.519        3.441.046          191.059        607.567       374.577.489        Total liabilities
                          Laporan posisi                                                                                                                                                                Net statement of
                           keuangan bersih        81.371.361       4.103.560      (235.061)              209.878       302.407        1.285.634          177.544        627.127        87.842.450    financial position
                          Rekening
                           administratif                                                                                                                                                                 Administrative
                           bersih                (41.741.447)     (3.209.250)       360.559           (1.941.382)     (300.815)         (94.847)         (96.489)     (846.750)       (47.870.421)    accounts - net




1470 PT Bank Mandiri (Persero) Tbk                                                                                  403
Page 964
     CORPORATE                    ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                 Financial
     GOVERNANCE                   & PRACTICES                     RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                 Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
              uang asing adalah sebagai berikut:                                   in foreign currencies are as follows:

                                                                  2023

                                                      Ekuivalen              Mata uang
                                                       Rupiah                   asing
                                                   (dalam jutaan)/        (dalam ribuan)/
                                                       Rupiah                 Foreign
                                                     Equivalent              Currencies
                                                     (in million)          (in thousand)

              Aset                                                                                                            Assets

              Kas                                                                                                                 Cash
                Dolar Amerika Serikat                      1.784.628                 115.908                    United States Dollar
                Euro Eropa                                   411.511                  24.152                          European Euro
                Dolar Australia                              308.730                  29.345                         Australian Dollar
                Dolar Singapura                              195.452                  16.739                         Singapore Dollar
                Yen Jepang                                    63.301                 581.383                           Japanese Yen
                Pound Sterling Inggris                        62.835                   3.202             Great Britain Pound Sterling
                Dolar Hong Kong                               12.068                   6.124                       Hong Kong Dollar
                Yuan China                                     4.286                   1.975                           Chinese Yuan
                Lain-lain                                    368.509                  23.934                                   Others

                                                           3.211.320                 802.762

              Giro pada                                                                                        Current accounts with
                Bank Indonesia                                                                                     Bank Indonesia
                Dolar Amerika Serikat                    12.780.622                  830.072                    United States Dollar

              Giro pada                                                                                        Current accounts with
                bank lain                                                                                                other banks
                Dolar Amerika Serikat                    21.647.171                 1.405.934                   United States Dollar
                Euro Eropa                                4.785.409                   280.862                         European Euro
                Yuan China                                3.861.548                 1.779.466                          Chinese Yuan
                Yen Jepang                                2.484.498                22.818.681                          Japanese Yen
                Dolar Singapura                             693.995                    59.436                        Singapore Dollar
                Pound Sterling Inggris                      641.562                    32.688            Great Britain Pound Sterling
                Dolar Australia                             238.174                    22.638                        Australian Dollar
                Dolar Hong Kong                              67.369                    34.185                      Hong Kong Dollar
                Lain-lain                                 1.327.611                    86.225                                  Others

                                                         35.747.337                26.520.115

              Penempatan pada                                                                                        Placement with
                Bank Indonesia dan bank lain                                                      Bank Indonesia and other banks
                Dolar Amerika Serikat                    39.408.595                 2.559.498                 United States Dollar
                Yuan China                                  542.472                   249.980                       Chinese Yuan
                Euro Eropa                                   34.104                     2.002                       EuropeanEuro
                Dolar Singapura                              23.423                     2.006                     Singapore Dollar

                                                         40.008.594                 2.813.486
              Efek-efek                                                                                         Marketable securities
                Dolar Amerika Serikat                    20.013.249                 1.299.816                   United States Dollar
                Dolar Singapura                             278.097                    23.817                      Singapore Dollar
                Yuan China                                   22.272                    10.263                        Chinese Yuan
                Yen Jepang                                      893                     8.202                        Japanese Yen

                                                         20.314.511                 1.342.098




                                                                       404                                      ANNUAL REPORT 2023       1471
Page 965
            MAIN                            MANAGEMENT                     COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                      REPORTS                        PROFILE                             ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

                     c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
                          uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                               (continued):
                                                                              2023
                                                                  Ekuivalen              Mata uang
                                                                   Rupiah                   asing
                                                               (dalam jutaan)/        (dalam ribuan)/
                                                                   Rupiah                 Foreign
                                                                 Equivalent              Currencies
                                                                 (in million)          (in thousand)

                          Aset (lanjutan)                                                                                      Assets (continued)

                          Obligasi pemerintah                                                                                Government bonds
                            Dolar Amerika Serikat                     51.651.407                3.354.641                   United States Dollar
                            Euro Eropa                                 1.136.362                   66.694                        European Euro

                                                                      52.787.769                3.421.335
                          Tagihan lainnya - transaksi                                                                   Other receivables - trade
                            Perdagangan                                                                                             transactions
                            Dolar Amerika Serikat                     11.926.761                 774.616                    United States Dollar
                            Euro Eropa                                    83.473                   4.899                          European Euro
                            Yuan China                                    38.089                  17.552                           Chinese Yuan
                            Dolar Singapura                               14.264                   1.222                         Singapore Dollar
                            Yen Jepang                                    13.964                 128.251                           Japanese Yen
                            Pound Sterling Inggris                         1.218                      62             Great Britain Pound Sterling

                                                                      12.077.769                 926.602

                          Tagihan atas efek-efek yang dibeli                                                         Securities purchased under
                            Dengan janji dijual kembali                                                                     agreements to resell
                            Dolar Amerika Serikat                       478.523                   31.079                   United States Dollar

                          Tagihan derivatif                                                                                Derivative receivables
                            Dolar Amerika Serikat                      1.282.658                  83.306                    United States Dollar
                            Yen Jepang                                    52.395                 481.218                           Japanese Yen
                            Euro Eropa                                    28.434                   1.669                          European Euro
                            Pound Sterling Inggris                         9.389                     478             Great Britain Pound Sterling
                            Yuan China                                     3.619                   1.668                           Chinese Yuan
                            Dolar Australia                                  435                      41                         Australian Dollar

                                                                       1.376.930                 568.380

                          Kredit yang diberikan dan                                                                               Loan and sharia
                            piutang/pembiayaan syariah                                                                           loan/financing
                            Dolar Amerika Serikat                    249.203.231               16.185.181                   United States Dollar
                            Euro Eropa                                 5.815.518                  341.320                        European Euro
                            Yuan China                                 2.823.484                1.301.109                         Chinese Yuan
                            Dolar Australia                              805.990                   76.609                      Australian Dollar
                            Dolar Singapura                              442.690                   37.913                      Singapore Dollar
                            Yen Jepang                                     1.643                   15.090                         Japanese Yen
                            Lain-lain                                      3.976                      258                                Others

                                                                     259.096.532               17.957.480

                          Tagihan akseptasi                                                                              Acceptance receivables
                            Dolar Amerika Serikat                      4.381.757                 284.585                   United States Dollar
                            Euro Eropa                                   551.561                  32.372                        European Euro
                            Yuan China                                   296.548                 136.654                         Chinese Yuan
                            Yen Jepang                                    47.404                 435.378                         Japanese Yen
                            Dolar Singapura                                3.241                     278                      Singapore Dollar
                            Lain-lain                                    327.886                  21.295                                Others

                                                                       5.608.397                 910.562




1472 PT Bank Mandiri (Persero) Tbk                                                 405
Page 966
     CORPORATE                    ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                 Financial
     GOVERNANCE                   & PRACTICES                     RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                 Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
              uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                   (continued):
                                                                  2023
                                                      Ekuivalen              Mata uang
                                                       Rupiah                   asing
                                                   (dalam jutaan)/        (dalam ribuan)/
                                                       Rupiah                 Foreign
                                                     Equivalent              Currencies
                                                     (in million)          (in thousand)

              Aset lain-lain                                                                                              Other assets
                Dolar Amerika Serikat                      4.002.652                 259.964                    United States Dollar
                Euro Eropa                                    79.052                   4.640                          European Euro
                Yuan China                                    16.039                   7.391                           Chinese Yuan
                Dolar Australia                               11.376                   1.081                         Australian Dollar
                Dolar Singapura                                  507                      43                         Singapore Dollar
                Yen Jepang                                       159                   1.460                           Japanese Yen
                Pound Sterling Inggris                            23                       1             Great Britain Pound Sterling
                Lain-lain                                         96                       6                                   Others

                                                           4.109.904                 274.586

              Total aset                                 447.598.208               56.398.557                              Total asset

              Liabilitas                                                                                                    Liabilities
              Simpanan nasabah                                                                              Deposits from customers
                Giro dan                                                                                     Demand deposits and
                  giro wadiah                                                                           wadiah demand deposits
                  Dolar Amerika Serikat                  177.046.247               11.498.750                United States Dollar
                  Euro Eropa                               3.580.250                  210.129                      European Euro
                  Yuan China                               3.251.028                1.498.128                       Chinese Yuan
                  Yen Jepang                                 936.610                8.602.223                       Japanese Yen
                  Dolar Singapura                            406.399                   34.805                     Singapore Dollar
                  Dolar Australia                             62.103                    5.903                     Australian Dollar
                  Pound Sterling Inggris                      42.362                    2.158         Great Britain Pound Sterling
                  Dolar Hong Kong                              5.105                    2.590                   Hong Kong Dollar
                  Lain-lain                                  285.494                   18.542                               Others

                                                         185.615.598               21.873.228
                Tabungan dan                                                                                    Saving deposits and
                  tabungan wadiah                                                                        wadiah saving deposits
                  Dolar Amerika Serikat                   35.560.169                2.309.552                United States Dollar
                  Yen Jepang                               2.564.440               23.552.902                       Japanese Yen
                  Dolar Singapura                            609.628                   52.211                     Singapore Dollar
                  Euro Eropa                                 501.079                   29.409                      European Euro
                  Dolar Australia                            166.223                   15.800                     Australian Dollar
                  Yuan China                                 104.176                   48.006                       Chinese Yuan
                  Pound Sterling Inggris                     103.513                    5.274         Great Britain Pound Sterling
                  Dolar Hong Kong                             10.570                    5.363                   Hong Kong Dollar
                  Lain-lain                                   31.805                    2.066                               Others

                                                          39.651.603               26.020.583

                Deposito berjangka                                                                                    Time deposits
                  Dolar Amerika Serikat                   29.776.332                1.933.905                United States Dollar
                  Dolar Singapura                            623.214                   53.374                     Singapore Dollar
                  Yuan China                                 470.257                  216.702                       Chinese Yuan
                  Yen Jepang                                 109.047                1.001.534                       Japanese Yen
                  Dolar Hong Kong                             35.665                   18.097                   Hong Kong Dollar
                  Dolar Australia                             22.086                    2.099                     Australian Dollar
                  Euro Eropa                                  20.323                    1.193                      European Euro
                  Pound Sterling Inggris                       1.394                       71         Great Britain Pound Sterling

                                                          31.058.318                3.226.975



                                                                       406                                      ANNUAL REPORT 2023        1473
Page 967
            MAIN                          MANAGEMENT                       COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                          PROFILE                             ANALYSIS


                                                           PT BANK MANDIRI (PERSERO) Tbk.
                                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

                     c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
                          uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                               (continued):

                                                                              2023

                                                                  Ekuivalen              Mata uang
                                                                   Rupiah                   asing
                                                               (dalam jutaan)/        (dalam ribuan)/
                                                                   Rupiah                 Foreign
                                                                 Equivalent              Currencies
                                                                 (in million)          (in thousand)

                          Liabilitas (lanjutan)                                                                             Liabilities (continued)

                          Simpanan dari bank lain                                                                     Deposits from other banks
                            Giro,                                                                                            Demand deposits,
                              giro wadiah dan                                                                   wadiah demand deposits and
                              tabungan                                                                                       saving deposits
                              Dolar Amerika Serikat                    2.427.071                 157.633                 United States Dollar
                              Dolar Singapura                              1.192                     102                    Singapore Dollar
                              Euro Eropa                                     641                      38                      European Euro
                              Yuan China                                     495                     228                       Chinese Yuan
                              Yen Jepang                                     443                   4.069                      Japanese Yen
                              Lain-lain                                       45                       3                              Others

                                                                       2.429.887                 162.073
                            Interbank call money                                                                           Interbank call money
                               Dolar Amerika Serikat                   4.927.040                 320.000                  United States Dollar
                               Yuan China                              2.039.856                 940.000                        Chinese Yuan

                                                                       6.966.896               1.260.000
                            Deposito berjangka                                                                                    Time deposits
                              Dolar Amerika Serikat                    3.125.591                 203.000                  United States Dollar

                          Liabilitas atas efek-efek                                                                                Securities sold
                            yang dijual dengan                                                                              under agreements
                            janji dibeli kembali                                                                                 to repurchase
                            Dolar Amerika Serikat                    36.330.064                2.359.555                    United States Dollar

                          Liabilitas derivatif                                                                                 Derivative payables
                            Dolar Amerika Serikat                      1.322.233                  85.876                    United States Dollar
                            Euro Eropa                                    27.742                   1.628                          European Euro
                            Dolar Singapura                                5.252                     450                         Singapore Dollar
                            Pound Sterling Inggris                         4.195                     214             Great Britain Pound Sterling
                            Yuan China                                     3.655                   1.684                           Chinese Yuan
                            Dolar Australia                                2.088                     198                         Australian Dollar
                            Yen Jepang                                     1.286                  11.811                           Japanese Yen
                             Lain-lain                                     7.054                     458                                   Others

                                                                       1.373.505                 102.319

                          Liabilitas akseptasi                                                                              Acceptance payables
                            Dolar Amerika Serikat                      4.381.757                 284.585                    United States Dollar
                            Euro Eropa                                   551.561                  32.372                         European Euro
                            Yuan China                                   296.548                 136.654                          Chinese Yuan
                            Yen Jepang                                    47.404                 435.378                          Japanese Yen
                             Dolar Singapura                               3.241                     278                       Singapore Dollar
                             Lain-lain                                   327.886                  21.295                                 Others

                                                                       5.608.397                 910.562




1474 PT Bank Mandiri (Persero) Tbk                                                 407
Page 968
     CORPORATE                        ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                      LAPORAN
                                                                                                                  Financial
     GOVERNANCE                       & PRACTICES                 RESPONSIBILITY                                KEUANGAN   2023
                                                                                                                  Statements 2023


                                               PT BANK MANDIRI (PERSERO) Tbk.
                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
              uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                   (continued):

                                                                  2023

                                                       Ekuivalen             Mata uang
                                                        Rupiah                  asing
                                                    (dalam jutaan)/       (dalam ribuan)/
                                                        Rupiah                Foreign
                                                      Equivalent             Currencies
                                                      (in million)         (in thousand)

              Liabilitas (lanjutan)                                                                              Liabilities (continued)

              Efek - efek yang diterbitkan                                                                     Debt securities issued
                Dolar Amerika Serikat                     28.421.722                1.845.926                   United States Dollar

              Beban yang masih harus dibayar                                                                        Accrued expenses
                Dolar Amerika Serikat                        981.490                  63.746                    United States Dollar
                Yuan China                                    32.538                  14.994                           Chinese Yuan
                Dolar Singapura                               25.641                   2.196                         Singapore Dollar
                Dolar Hong Kong                                7.400                   3.755                       Hong Kong Dollar
                Euro Eropa                                     1.268                      74                          European Euro
                Pound Sterling Inggris                           360                      18             Great Britain Pound Sterling
                Yen Jepang                                       146                   1.341                           Japanese Yen
                Dolar Australia                                  140                      13                         Australian Dollar
                Lain-lain                                         10                       1                                   Others

                                                           1.048.993                  86.138

              Liabilitas lain-lain                                                                                      Other liabilities
                Dolar Amerika Serikat                      1.759.754                 114.292                    United States Dollar
                Yuan China                                   933.179                 430.025                           Chinese Yuan
                Euro Eropa                                   241.369                  14.166                          European Euro
                Dolar Singapura                              204.655                  17.528                         Singapore Dollar
                Dolar Australia                               69.560                   6.612                         Australian Dollar
                 Yen Jepang                                   22.725                 208.716                           Japanese Yen
                 Pound Sterling Inggris                       19.810                   1.009             Great Britain Pound Sterling
                 Dolar Hong Kong                              12.117                   6.148                       Hong Kong Dollar
                 Lain-lain                                    87.865                   5.707                                   Others

                                                           3.351.034                 804.203

              Pinjaman yang diterima                                                                                 Fund borrowings
                Dolar Amerika Serikat                     56.499.149                3.669.491                    United States Dollar

              Pinjaman dan efek-efek                                                                          Subordinated loans and
                subordinasi                                                                                   marketable securities
                Dolar Amerika Serikat                        115.735                    7.517                   United States Dollar

              Total liabilitas                           401.596.492               62.531.570                           Total liabilities




                                                                       408                                       ANNUAL REPORT 2023         1475
Page 969
            MAIN                         MANAGEMENT                        COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                           PROFILE                             ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

                     c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
                          uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                               (continued):

                                                                              2022

                                                                  Ekuivalen              Mata uang
                                                                   Rupiah                   asing
                                                               (dalam jutaan)/        (dalam ribuan)/
                                                                   Rupiah                 Foreign
                                                                 Equivalent              Currencies
                                                                 (in million)          (in thousand)

                          Aset                                                                                                            Assets

                          Kas                                                                                                                 Cash
                            Dolar Amerika Serikat                      1.091.335                  70.103                    United States Dollar
                            Euro Eropa                                   364.359                  21.974                          European Euro
                            Dolar Australia                              349.762                  33.128                         Australian Dollar
                            Dolar Singapura                              617.527                  53.268                         Singapore Dollar
                            Pound Sterling Inggris                        38.631                   2.056             Great Britain Pound Sterling
                            Yen Jepang                                    45.618                 387.217                           Japanese Yen
                            Dolar Hong Kong                               31.520                  15.787                       Hong Kong Dollar
                            Yuan China                                     6.050                   2.702                           Chinese Yuan
                            Lain-lain                                    139.694                   8.973                                   Others

                                                                       2.684.496                 595.208

                          Giro pada                                                                                        Current accounts with
                            Bank Indonesia                                                                                     Bank Indonesia
                            Dolar Amerika Serikat                    11.570.462                  743.245                    United States Dollar

                          Giro pada                                                                                        Current accounts with
                            bank lain                                                                                                other banks
                            Dolar Amerika Serikat                    40.486.950                 2.600.736                   United States Dollar
                            Euro Eropa                                1.510.937                    91.121                         European Euro
                            Yuan China                                1.476.989                   659.691                          Chinese Yuan
                            Yen Jepang                                1.763.801                14.971.573                          Japanese Yen
                            Dolar Singapura                             667.211                    57.554                        Singapore Dollar
                            Pound Sterling Inggris                      328.183                    17.469            Great Britain Pound Sterling
                            Dolar Australia                             206.781                    19.585                        Australian Dollar
                            Dolar Hong Kong                             186.132                    93.227                      Hong Kong Dollar
                            Lain-lain                                   545.550                    35.044                                  Others

                                                                     47.172.534                18.546.000

                          Penempatan pada                                                                                       Placement with
                            Bank Indonesia dan bank lain                                                      Bank Indonesia and other banks
                            Dolar Amerika Serikat                    64.154.089                 4.121.027                 United States Dollar
                            Yuan China                                  358.226                   160.000                      Chinese Yuan

                                                                     64.512.315                 4.281.027
                          Efek-efek                                                                                         Marketable securities
                            Dolar Amerika Serikat                    23.702.693                 1.522.575                   United States Dollar
                            Dolar Singapura                             299.119                    25.802                      Singapore Dollar
                            Yuan China                                   22.741                    10.157                        Chinese Yuan
                            Yen Jepang                                    3.245                    27.544                        Japanese Yen

                                                                     24.027.798                 1.586.078




1476 PT Bank Mandiri (Persero) Tbk                                                 409
Page 970
     CORPORATE                    ESG COMMITMENTS                 SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                 Financial
     GOVERNANCE                   & PRACTICES                     RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                 Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
              uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                   (continued):

                                                                  2022

                                                      Ekuivalen              Mata uang
                                                       Rupiah                   asing
                                                   (dalam jutaan)/        (dalam ribuan)/
                                                       Rupiah                 Foreign
                                                     Equivalent              Currencies
                                                     (in million)          (in thousand)

              Aset (lanjutan)                                                                                      Assets (continued)

              Obligasi pemerintah                                                                                Government bonds
                Dolar Amerika Serikat                     54.132.814                3.477.297                   United States Dollar
                Euro Eropa                                 2.005.214                  120.929                        European Euro

                                                          56.138.028                3.598.226

              Tagihan lainnya - transaksi                                                                   Other receivables - trade
                Perdagangan                                                                                             transactions
                Dolar Amerika Serikat                     11.999.880                 770.829                    United States Dollar
                Euro Eropa                                   380.702                  22.959                          European Euro
                Yuan China                                    39.955                  17.846                           Chinese Yuan
                Pound Sterling Inggris                         1.424                      76             Great Britain Pound Sterling

                                                          12.421.961                 811.710

              Tagihan derivatif                                                                                Derivative receivables
                Dolar Amerika Serikat                      1.776.578                 114.121                    United States Dollar
                Yen Jepang                                     5.623                  47.729                           Japanese Yen
                Pound Sterling Inggris                           324                      17             Great Britain Pound Sterling
                Yuan China                                         1                       -                           Chinese Yuan
                Dolar Australia                                  449                      43                         Australian Dollar
                Euro Eropa                                    24.419                   1.473                          European Euro
                Lain-lain                                      3.064                     197                                   Others

                                                           1.810.458                 163.580

              Kredit yang diberikan dan                                                                               Loan and sharia
                piutang/pembiayaan syariah                                                                           loan/financing
                Dolar Amerika Serikat                    224.375.901               14.413.098                   United States Dollar
                Euro Eropa                                 3.039.050                  183.277                        European Euro
                Yuan China                                 2.716.345                1.213.244                         Chinese Yuan
                Dolar Australia                                1.765                      167                      Australian Dollar
                Dolar Singapura                              510.967                   44.076                      Singapore Dollar

                                                         230.644.028               15.853.862

              Tagihan akseptasi                                                                              Acceptance receivables
                Dolar Amerika Serikat                      6.542.642                 420.276                   United States Dollar
                Euro Eropa                                   272.256                  16.419                        European Euro
                Yuan China                                    85.453                  38.167                         Chinese Yuan
                Yen Jepang                                    65.816                 558.662                        Japanese Yen
                Dolar Singapura                                7.765                     670                      Singapore Dollar
                Dolar Australia                                2.148                     203                      Australian Dollar
                Lain-lain                                    328.734                  21.117                                Others

                                                           7.304.814                1.055.514




                                                                       410                                      ANNUAL REPORT 2023       1477
Page 971
            MAIN                         MANAGEMENT                        COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                           PROFILE                             ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

                     c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
                          uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                               (continued):
                                                                              2022
                                                                  Ekuivalen              Mata uang
                                                                   Rupiah                   asing
                                                               (dalam jutaan)/        (dalam ribuan)/
                                                                   Rupiah                 Foreign
                                                                 Equivalent              Currencies
                                                                 (in million)          (in thousand)

                          Aset lain-lain                                                                                              Other assets
                            Dolar Amerika Serikat                      4.062.533                 260.963                    United States Dollar
                            Euro Eropa                                    48.914                   2.950                          European Euro
                            Yuan China                                    20.920                   9.344                           Chinese Yuan
                            Dolar Australia                                   21                       2                         Australian Dollar
                            Dolar Singapura                                  443                      38                         Singapore Dollar
                            Yen Jepang                                       173                   1.468                           Japanese Yen
                            Pound Sterling Inggris                            41                       2             Great Britain Pound Sterling

                                                                       4.133.045                 274.767

                          Total aset                                 462.419.939               47.509.217                              Total asset

                          Liabilitas                                                                                                    Liabilities
                          Simpanan nasabah                                                                              Deposits from customers
                            Giro dan                                                                                     Demand deposits and
                              giro wadiah                                                                           wadiah demand deposits
                              Dolar Amerika Serikat                  183.659.852               11.797.646                United States Dollar
                              Euro Eropa                               1.567.152                   94.511                      European Euro
                              Yuan China                                 923.787                  412.606                       Chinese Yuan
                              Yen Jepang                                 981.868                8.334.335                       Japanese Yen
                              Dolar Singapura                            378.961                   32.689                     Singapore Dollar
                              Dolar Australia                             58.596                    5.550                     Australian Dollar
                              Pound Sterling Inggris                      58.323                    3.105         Great Britain Pound Sterling
                              Dolar Hong Kong                              7.570                    3.792                   Hong Kong Dollar
                              Lain-lain                                  116.753                    7.500                               Others

                                                                     187.752.862               20.691.734
                            Tabungan dan                                                                                    Saving deposits and
                              tabungan wadiah                                                                        wadiah saving deposits
                              Dolar Amerika Serikat                   37.509.967                2.409.505                United States Dollar
                              Yen Jepang                                 476.033                4.040.684                       Japanese Yen
                              Dolar Singapura                            797.745                   68.813                     Singapore Dollar
                              Euro Eropa                               1.445.995                   87.204                      European Euro
                              Dolar Australia                            170.238                   16.124                     Australian Dollar
                              Yuan China                                 134.651                   60.141                       Chinese Yuan
                              Pound Sterling Inggris                     111.877                    5.955         Great Britain Pound Sterling
                              Dolar Hong Kong                             11.768                    5.894                   Hong Kong Dollar
                              Lain-lain                                    3.724                      239                               Others

                                                                      40.661.998                6.694.559

                            Deposito berjangka                                                                                    Time deposits
                              Dolar Amerika Serikat                   35.652.385                2.290.181                United States Dollar
                              Dolar Singapura                            983.388                   84.827                     Singapore Dollar
                              Yuan China                                  96.260                   42.994                       Chinese Yuan
                              Yen Jepang                                 106.988                  908.140                       Japanese Yen
                              Dolar Hong Kong                             48.015                   24.049                   Hong Kong Dollar
                              Dolar Australia                             21.515                    2.038                     Australian Dollar
                              Euro Eropa                                  58.378                    3.521                      European Euro
                              Pound Sterling Inggris                       8.545                      455         Great Britain Pound Sterling

                                                                      36.975.474                3.356.205




1478 PT Bank Mandiri (Persero) Tbk                                                 411
Page 972
     CORPORATE                        ESG COMMITMENTS             SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                 Financial
     GOVERNANCE                       & PRACTICES                 RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                 Statements 2023


                                               PT BANK MANDIRI (PERSERO) Tbk.
                                          DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
              uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                   (continued):

                                                                  2022

                                                       Ekuivalen             Mata uang
                                                        Rupiah                  asing
                                                    (dalam jutaan)/       (dalam ribuan)/
                                                        Rupiah                Foreign
                                                      Equivalent             Currencies
                                                      (in million)         (in thousand)

              Liabilitas (lanjutan)                                                                             Liabilities (continued)

              Simpanan dari bank lain                                                                     Deposits from other banks
                Giro,                                                                                            Demand deposits,
                  giro wadiah dan                                                                   wadiah demand deposits and
                  tabungan                                                                                       saving deposits
                  Dolar Amerika Serikat                    2.116.637                 135.965                 United States Dollar
                  Dolar Singapura                                965                      83                    Singapore Dollar
                  Euro Eropa                                     628                      38                      European Euro
                  Yen Jepang                                     480                   4.074                      Japanese Yen
                  Yuan China                                      39                      17                       Chinese Yuan

                                                           2.118.749                 140.177
                Interbank call money                                                                           Interbank call money
                   Dolar Amerika Serikat                   2.646.475                 170.000                  United States Dollar
                   Yuan China                              1.589.626                 710.000                        Chinese Yuan

                                                           4.236.101                 880.000
                Deposito berjangka                                                                                    Time deposits
                  Dolar Amerika Serikat                    1.945.937                 125.000                  United States Dollar

              Liabilitas atas efek-efek                                                                                Securities sold
                yang dijual dengan                                                                              under agreements
                janji dibeli kembali                                                                                 to repurchase
                Dolar Amerika Serikat                     23.191.358               1.489.729                    United States Dollar

              Liabilitas derivatif                                                                                 Derivative payables
                Dolar Amerika Serikat                      1.190.246                  76.457                    United States Dollar
                Euro Eropa                                    13.171                     794                          European Euro
                Pound Sterling Inggris                            12                       1             Great Britain Pound Sterling
                Yen Jepang                                     2.574                  21.849                           Japanese Yen
                Dolar Australia                                1.256                     119                         Australian Dollar
                Lain-lain                                        198                      13                                   Others

                                                           1.207.457                  99.233

              Liabilitas akseptasi                                                                              Acceptance payables
                Dolar Amerika Serikat                      6.542.642                 420.276                    United States Dollar
                Euro Eropa                                   272.256                  16.419                         European Euro
                Yuan China                                    85.453                  38.167                          Chinese Yuan
                Yen Jepang                                    65.816                 558.662                         Japanese Yen
                 Dolar Singapura                               7.765                     670                       Singapore Dollar
                 Dolar Australia                               2.148                     203                       Australian Dollar
                 Lain-lain                                   328.734                  21.117                                 Others

                                                           7.304.814               1.055.514




                                                                       412                                      ANNUAL REPORT 2023        1479
Page 973
            MAIN                             MANAGEMENT                    COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                       REPORTS                       PROFILE                             ANALYSIS


                                                          PT BANK MANDIRI (PERSERO) Tbk.
                                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                   62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

                (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

                     c.   Saldo aset dan liabilitas moneter dalam mata                    c.   The balance of monetary assets and liabilities
                          uang asing adalah sebagai berikut (lanjutan):                        in foreign currencies are as follows
                                                                                               (continued):

                                                                              2022

                                                                  Ekuivalen              Mata uang
                                                                   Rupiah                   asing
                                                               (dalam jutaan)/        (dalam ribuan)/
                                                                   Rupiah                 Foreign
                                                                 Equivalent              Currencies
                                                                 (in million)          (in thousand)

                          Liabilitas (lanjutan)                                                                              Liabilities (continued)

                          Efek - efek yang diterbitkan                                                                     Debt securities issued
                            Dolar Amerika Serikat                     24.034.300                1.543.877                   United States Dollar

                          Beban yang masih harus dibayar                                                                        Accrued expenses
                            Dolar Amerika Serikat                       838.514                   53.863                    United States Dollar
                            Yuan China                                   35.105                   15.680                           Chinese Yuan
                            Dolar Singapura                              16.459                    1.420                         Singapore Dollar
                            Dolar Hong Kong                               7.819                    3.916                       Hong Kong Dollar
                            Pound Sterling Inggris                           54                        3             Great Britain Pound Sterling
                            Yen Jepang                                      158                    1.341                           Japanese Yen
                            Dolar Australia                                 140                       13                         Australian Dollar
                            Lain-lain                                         9                        1                                   Others

                                                                        898.258                   76.237

                          Liabilitas lain-lain                                                                                      Other liabilities
                            Dolar Amerika Serikat                      1.842.393                 118.348                    United States Dollar
                            Yuan China                                   576.125                 257.323                           Chinese Yuan
                            Euro Eropa                                   184.711                  11.140                          European Euro
                            Dolar Singapura                              152.810                  13.181                         Singapore Dollar
                            Dolar Australia                                4.626                     438                         Australian Dollar
                            Pound Sterling Inggris                        12.248                     652             Great Britain Pound Sterling
                            Yen Jepang                                    40.481                 343.612                           Japanese Yen
                             Dolar Hong Kong                               4.919                   2.463                       Hong Kong Dollar
                             Lain-lain                                    78.058                   5.014                                   Others

                                                                       2.896.371                 752.171

                          Pinjaman yang diterima                                                                                 Fund borrowings
                            Dolar Amerika Serikat                     41.220.246                2.647.840                    United States Dollar

                          Pinjaman dan efek-efek                                                                          Subordinated loans and
                            subordinasi                                                                                   marketable securities
                            Dolar Amerika Serikat                       133.564                     8.580                   United States Dollar

                          Total liabilitas                           374.577.489               39.560.856                           Total liabilities




1480 PT Bank Mandiri (Persero) Tbk                                                 413
Page 974
     CORPORATE                   ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                     LAPORAN
                                                                                                                  Financial
     GOVERNANCE                  & PRACTICES                       RESPONSIBILITY                               KEUANGAN   2023
                                                                                                                  Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                        31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                    62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)                   B.   Market risk and liquidity risk (continued)

    (iv) Manajemen risiko nilai tukar (lanjutan)                         (iv) Foreign exchange risk management (continued)

         d.   Sensitivitas terhadap laba bersih                               d.    Sensitivity to net income

              Tabel di bawah ini mengikhtisarkan                                    The table below shows the sensitivity of Bank
              sensitivitas laba bersih Bank Mandiri saja                            Mandiri’s net income to movement of foreign
              pada tanggal 31 Desember 2023 dan 2022                                exchange rates as of 31 December 2023 and
              atas perubahan nilai tukar mata uang asing                            2022:
              yaitu:

                                                    Peningkatan               Penurunan
                                                         5%/                     5%/
                                                    Increased by             Decreased by
                                                         5%                       5%

              31 Desember 2023                                                                                   31 December 2023
              Menambah/(mengurangi)                                                                             Increase/(decrease)
                laba bersih                                    2,796                   (2,796)                         net income

                                                    Peningkatan               Penurunan
                                                         5%/                     5%/
                                                    Increased by             Decreased by
                                                         5%                       5%

              31 Desember 2022                                                                                   31 December 2022
              Menambah/(mengurangi)                                                                             Increase/(decrease)
                laba bersih                              2.699.954                 (2.699.954)                         net income

              Proyeksi di atas hanya mengasumsikan                                   The projection above assumes only changes in
              perubahan nilai tukar mata uang asing Dolar                            foreign currency exchange rate of US Dollar
              Amerika Serikat sedangkan nilai tukar mata                             while other foreign exchange rates remain
              uang asing lainnya tidak berubah. Dolar                                unchanged. US Dollars is the major foreign
              Amerika Serikat merupakan komponen                                     exchange rate held by the Bank. The projection
              terbesar mata uang asing yang dimiliki Bank.
                                                                                     also assumes that all other variables are held
              Proyeksi dalam hal ini juga mengasumsikan
                                                                                     constant at reporting date
              bahwa seluruh variabel lainnya adalah
              konstan pada tanggal pelaporan keuangan.

    (v) Nilai wajar aset dan liabilitas keuangan                         (v) Fair value of financial assets and liabilities

         Penilaian/valuasi juga merupakan komponen                            Valuation is also an important component to
         penting yang dibutuhkan untuk mengelola hampir                       manage most risks in banking industry including
         semua risiko perbankan termasuk risiko pasar,                        market risk, credit risk and liquidity risk. Valuation
         risiko kredit dan risiko likuiditas. Proses valuasi                  process is performed for all trading book position
         dilakukan atas seluruh posisi trading book                           including marketable securities owned by the
         termasuk efek-efek yang dimiliki Grup dalam                          Group’s portfolio measured at fair value through
         portofolio diukur pada nilai wajar melalui                           other comprehensive income.
         penghasilan komprehensif lain.




                                                                       414                                       ANNUAL REPORT 2023    1481
Page 975
            MAIN                               MANAGEMENT                                     COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                        PROFILE                                   ANALYSIS


                                                                 PT BANK MANDIRI (PERSERO) Tbk.
                                                            DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                             (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                     62. RISK MANAGEMENT (continued)
                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                  B.     Market risk and liquidity risk (continued)
                (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)                             (v) Fair value of financial assets and liabilities
                                                                                                        (continued)
                     Tabel di bawah ini menganalisis instrumen                                             The table below shows analysis of financial
                     keuangan yang dicatat pada nilai wajar                                                instruments carried at fair value based on method
                     berdasarkan      tingkatan     metode   penilaian.                                    of valuation levels. The difference at each level of
                     Perbedaan pada setiap tingkatan metode                                                assessment methods is described as follows:
                     penilaian dijelaskan sebagai berikut:                                                  • Quoted prices (not adjusted) from active
                     •   Harga kuotasian (tidak disesuaikan) dari                                               market for asset or liability which are the
                          pasar yang aktif untuk aset atau liabilitas                                           same/identical (Level 1);
                          yang identik (Tingkat 1);
                     •   Input selain harga yang kuotasian dari pasar                                         •   Inputs other than quoted market prices
                          yang disertakan pada Tingkat 1 yang dapat                                               included in Level 1 that are observable for the
                          diobservasi untuk aset dan liabilitas, baik                                             asset and liability, either directly (as a price) or
                          secara langsung (yaitu sebagai sebuah                                                   indirectly (derived from prices) (Level 2);
                          harga) atau secara tidak langsung (yaitu
                          sebagai turunan dari harga) (Tingkat 2);
                     •   Input untuk aset atau liabilitas yang tidak                                          •   Inputs for the asset or liability that are not
                          didasarkan pada data pasar yang dapat                                                   based     on    observable      market    data
                          diobservasi (informasi yang tidak dapat                                                 (unobservable information) (Level 3);
                          diobservasi) (Tingkat 3).
                     Tabel berikut menyajikan aset dan liabilitas Grup                                     The table below shows the Group’s assets and
                     yang diukur sebesar nilai wajar pada                                                  liabilities that are measured at fair value as of
                     31 Desember 2023 dan 2022:                                                            31 December 2023 and 2022:
                                                                                                    2023

                                                                                                     Nilai wajar/Fair value

                                                          Nilai tercatat /   Tingkat 1/          Tingkat 2/          Tingkat 3/
                                                          Carrying value      Level 1             Level 2             Level 3              Total

                     Aset yang diukur sebesar                                                                                                                 Assets measured at
                      nilai wajar                                                                                                                                        fair value
                      Efek-efek                                                                                                                              Marketable securities
                       Diukur pada nilai wajar melalui                                                                                                        Fair value through
                          laba rugi                            38.636.604       34.402.874           4.233.730                      -       38.636.604            profit or loss
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          penghasilan komprehensif lain        48.823.800        6.150.423          42.673.377                      -       48.823.800 comprehensive income
                      Obligasi pemerintah                                                                                                                      Government bonds
                       Diukur pada nilai wajar melalui                                                                                                        Fair value through
                          laba rugi                            20.805.479       18.727.231           2.078.248                      -       20.805.479            profit or loss
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          penghasilan komprehensif lain        90.640.924       83.264.895           7.376.029                      -       90.640.924 comprehensive income
                      Kredit yang diberikan dan                                                                                                                  Loans and sharia
                       piutang/pembiayaan syariah                                                                                                          receivables/financing
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          penghasilan komprehensif lain         2.503.048                -                   -            2.503.048          2.503.048 comprehensive income
                      Tagihan derivatif                         1.994.931                -           1.994.931                    -          1.994.931      Derivative receivables
                      Penyertaan saham                          1.813.882           16.036             797.068            1.000.778          1.813.882      Investments in shares
                     Liabilitas yang diukur sebesar                                                                                                        Liabilities measured at
                      nilai wajar                                                                                                                                       fair value
                      Liabilitas derivatif                      2.113.853                 -          2.113.853                      -        2.113.853        Derivative payables

                                                                                                    2022

                                                                                                     Nilai wajar/Fair value

                                                          Nilai tercatat /   Tingkat 1/          Tingkat 2/          Tingkat 3/
                                                          Carrying value      Level 1             Level 2             Level 3              Total

                     Aset yang diukur sebesar                                                                                                                 Assets measured at
                      nilai wajar                                                                                                                                        fair value
                      Efek-efek                                                                                                                              Marketable securities
                       Diukur pada nilai wajar melalui                                                                                                        Fair value through
                          laba rugi                            34.225.185       34.046.316             178.869                      -       34.225.185            profit or loss
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          Penghasilan komprehensif lain        29.308.811       10.065.641          19.243.170                      -       29.308.811 comprehensive income
                      Obligasi pemerintah                                                                                                                      Government bonds
                       Diukur pada nilai wajar melalui                                                                                                        Fair value through
                          laba rugi                            11.888.445       10.805.944           1.082.501                      -       11.888.445            profit or loss
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          penghasilan komprehensif lain        92.532.086       89.258.887           3.273.199                      -       92.532.086 comprehensive income
                      Kredit yang diberikan dan                                                                                                                  Loans and sharia
                       piutang/pembiayaan syariah                                                                                                          receivables/financing
                       Diukur pada nilai wajar melalui                                                                                                  Fair value through other
                          penghasilan komprehensif lain           500.049                -                   -                500.049          500.049 comprehensive income
                      Tagihan derivative                        2.252.141                -           2.176.232                 75.909        2.252.141      Derivative receivables
                      Penyertaan saham                          2.670.969           34.781           2.310.479                325.709        2.670.969      Investments in shares
                     Liabilitas yang diukur sebesar                                                                                                        Liabilities measured at
                      nilai wajar                                                                                                                                       fair value
                      Liabilitas derivatif                      2.126.769                 -          2.126.769                      -        2.126.769        Derivative payables




1482 PT Bank Mandiri (Persero) Tbk                                                               415
Page 976
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                           Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                            KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)            B.   Market risk and liquidity risk (continued)

    (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)       (v) Fair value of financial assets and liabilities
                                                                      (continued)

         Pada tanggal 31 Desember 2023 dan 2022,                       As of 31 December 2023 and 2022, assets and
         untuk aset dan liabilitas yang dimiliki pada akhir            liabilities held at the end of the reporting year are
         tahun laporan diukur pada nilai wajar secara                  measured at fair value on a recurring basis. The
         berulang, Bank dan Entitas Anak tidak memiliki                Bank and its Subsidiaries have no transfers
         transfer antara Tingkat 1 dan Tingkat 2 dari                  between Level 1 and Level 2 of the hierarchy. In
         hierarki. Selain itu pada posisi tanggal yang                 addition at the same date, there is no Marketable
         sama, tidak terdapat Surat Berharga yang masuk                Securities included in Level 3
         ke dalam Tingkat 3.

         Nilai     wajar    instrumen    keuangan      yang            The fair value of financial instruments traded in
         diperdagangkan dalam pasar aktif (misalnya efek               active markets (such as marketable securities which
         yang diukur pada nilai wajar melalui laba rugi dan            are measured at fair value through profit or loss and
         nilai wajar melalui penghasilan komprehensif lain)            fair value through other comprehensive income)
         ditentukan berdasarkan harga pasar kuotasian                  was determined based on quoted market prices at
         pada tanggal pelaporan. Suatu pasar dianggap                  the reporting date. A market is considered active if
         aktif apabila informasi mengenai kuotasian dapat              the information regarding price quotations can be
         dengan mudah dan secara berkala tersedia dari                 easily obtained and regularly available from an
         suatu bursa, pedagang efek, atau broker,                      exchange, securities dealer or broker, the market
         kelompok penilai harga pasar industri tertentu,               price of a particular industry assessors, regulators
         regulator       dan      harga-harga      tersebut            and those price reflects actual and regular market
         mencerminkan transaksi pasar yang aktual dan                  transactions at a fair value. Quoted market price for
         reguler pada tingkat yang wajar. Harga pasar                  financial assets owned by the Group are using
         kuotasian untuk aset keuangan yang dimiliki Grup              current offering price. These instruments are
         adalah harga penawaran sekarang. Instrumen-                   included in level 1. The instruments included in level
         instrumen tersebut termasuk dalam tingkat 1.                  1 generally include investments in shares in IDX and
         Instrumen yang termasuk dalam tingkat 1                       debt securities classified as held for trading and fair
         umumnya meliputi investasi ekuitas dan surat                  value through other comprehensive income.
         hutang terdaftar di Bursa Efek Indonesia yang
         diklasifikasikan sebagai surat berharga yang
         diukur pada nilai wajar melalui laba rugi dan nilai
         wajar melalui penghasilan komprehensif lain.

         Nilai wajar instrumen keuangan yang tidak                     The fair value of financial instruments that are not
         diperdagangkan pada pasar aktif meliputi derivatif            traded in an active market (include over-the-counter
         over the counter dan obligasi pemerintah yang                 derivatives and inactive government bonds) are
         tidak aktif ditentukan dengan teknik penilaian                determined by internal valuation techniques.
         internal.

         Teknik-teknik          penilaian        tersebut              The valuation techniques maximise the use of
         memaksimumkan penggunaan data pasar yang                      observable market data when available and as far
         dapat diobservasi dan sedapat mungkin                         as possible to minimise the use of specific estimates
         meminimalisir penggunaan estimasi yang bersifat               of the entity. If all the inputs needed to determine the
         spesifik dari entitas. Seluruh input yang                     fair value of financial instruments are observable
         dibutuhkan untuk menentukan nilai wajar                       from market, therefore the instrument is included in
         instrumen keuangan dapat diobservasi dari                     level 2. Instead, if one or more data is not based on
         pasar, oleh karena itu instrumen tersebut                     observable market data, these instrument are
         termasuk dalam tingkat 2. Sebaliknya, jika salah              included in level 3.
         satu atau lebih data tidak didasarkan pada data
         pasar yang dapat diobservasi, instrumen ini
         termasuk dalam tingkat 3.




                                                                416                                       ANNUAL REPORT 2023      1483
Page 977
            MAIN                               MANAGEMENT                                       COMPANY                                   MANAGEMENT DISCUSSION &
            HIGHLIGHTS                         REPORTS                                          PROFILE                                   ANALYSIS


                                                                PT BANK MANDIRI (PERSERO) Tbk.
                                                           DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                 NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                               (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                       62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                    B.     Market risk and liquidity risk (continued)

                (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)                               (v) Fair value of financial assets and liabilities
                                                                                                          (continued)

                     Pada tanggal 31 Desember 2023 dan 2022 nilai                                            As of 31 December 2023 and 2022, the carrying
                     tercatat dari aset dan liabilitas keuangan Bank                                         value of the Bank’s financial assets and liabilities
                     Mandiri memiliki nilai yang hampir sama dengan                                          approximates their fair value except for the
                     nilai wajarnya kecuali untuk instrumen berikut:                                         following financial instruments:

                                                                                                      2023

                                                                                                       Nilai wajar/Fair value

                                                         Nilai tercatat /      Tingkat 1/          Tingkat 2/            Tingkat 3/
                                                         Carrying value         Level 1             Level 2               Level 3               Total


                     Aset yang disajikan sebesar                                                                                                                  Assets disclosed at
                      nilai wajar                                                                                                                                           fair value
                      Efek-efek*)                                                                                                                               Marketable securities*)
                        Diukur pada biaya perolehan
                          diamortisasi                         5.891.305           4.199.720           1.713.094                      -           5.912.814        At amortised cost
                        Diukur pada biaya peroleh              1.186.152                   -           1.186.152                      -           1.186.152                  At cost
                     Obligasi pemerintah*)                                                                                                                        Government bonds*)
                      Diukur pada biaya perolehan
                          diamortisasi                       163.194.756         163.360.833                   -                      -        163.360.833         At amortised cost
                        Diukur pada biaya peroleh             34.541.812                   -          34.541.812                      -         34.541.812                    At cost
                      Kredit yang diberikan dan                                                                                                                      Loans and sharia
                        piutang/pembiayaan syariah         1.304.230.527                    -       382.503.647            920.117.961        1.302.621.608    receivables/financing
                      Piutang pembiayaan                                                                                                                          Consumer financing
                        konsumen                              32.036.752                    -         30.511.471                      -         30.511.471               receivables
                      Investasi bersih dalam                                                                                                                            Net investment
                        sewa pembiayaan                        5.419.072                    -          5.010.212                      -           5.010.212           finance leases

                     Liabilitas yang disajikan sebesar                                                                                                         Liabilities disclosed at
                      nilai wajar                                                                                                                                            fair value
                      Efek-efek yang diterbitkan              50.517.764                    -         50.226.241                      -         50.226.241     Debt securities issued
                      Pinjaman yang diterima                  95.445.459                    -         95.039.435                      -         95.039.435           Fund borrowings
                      Pinjaman dan efek-efek                                                                                                                  Subordinated loans and
                        subordinasi                              215.607                    -            215.607                      -            215.607    marketable securities


                                                                                                      2022

                                                                                                       Nilai wajar/Fair value

                                                         Nilai tercatat /      Tingkat 1/          Tingkat 2/            Tingkat 3/
                                                         Carrying value         Level 1             Level 2               Level 3               Total


                     Aset yang disajikan sebesar                                                                                                                  Assets disclosed at
                      nilai wajar                                                                                                                                           fair value
                      Efek-efek*)                                                                                                                               Marketable securities*)
                        Diukur pada biaya perolehan
                          diamortisasi                         7.953.376           5.894.865           2.060.201                      -          7.955.066         At amortised cost
                        Diukur pada biaya peroleh             11.227.960                   -          11.227.960                      -         11.227.960                   At cost
                     Obligasi pemerintah*)                                                                                                                        Government bonds*)
                      Diukur pada biaya perolehan
                          diamortisasi                       180.578.053         180.668.045                   -                      -        180.668.045         At amortised cost
                        Diukur pada biaya peroleh             44.213.180                   -          43.528.296                      -         43.528.296                    At cost
                      Kredit yang diberikan dan                                                                                                                      Loans and sharia
                        piutang/pembiayaan syariah         1.107.487.188                    -        345.846.640           761.337.878        1.107.184.518    receivables/financing
                      Piutang pembiayaan                                                                                                                          Consumer financing
                        Konsumen                              23.147.366                    -         20.185.615                      -         20.185.615               receivables
                      Investasi bersih dalam                                                                                                                            Net investment
                        sewa pembiayaan                        5.733.387                    -          5.175.740                      -           5.175.740           finance leases

                     Liabilitas yang disajikan sebesar                                                                                                         Liabilities disclosed at
                      nilai wajar                                                                                                                                            fair value
                      Efek-efek yang diterbitkan              45.774.139                    -         45.510.364                      -         45.510.364     Debt securities issued
                      Pinjaman yang diterima                  62.840.118                    -         62.937.396                      -         62.937.396           Fund borrowings
                      Pinjaman dan efek-efek                                                                                                                  Subordinated loans and
                        Subordinasi                              633.333                    -            640.288                      -            640.288    marketable securities

                     *)   Efek-efek dan obligasi pemerintah yang dimiliki Entitas Anak sesuai                   *)   Marketable securities and government bonds owned by Subsidiary in
                          dengan PSAK 110 “Akuntansi Sukuk”.                                                         accordance with SFAS No. 110 “Accounting for Sukuk”.




1484 PT Bank Mandiri (Persero) Tbk                                                                 417
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     CORPORATE                   ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                           Financial
     GOVERNANCE                  & PRACTICES                    RESPONSIBILITY                           KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                 62. RISK MANAGEMENT (continued)

    B.   Risiko pasar dan risiko likuiditas (lanjutan)             B.   Market risk and liquidity risk (continued)

    (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)        (v) Fair value of financial assets and liabilities
                                                                       (continued)

         (i)   Giro pada Bank Indonesia, giro pada bank                 (i)   Current accounts with Bank Indonesia, current
               lain, penempatan pada Bank Indonesia dan                       accounts with other banks, placement with
               bank lain, tagihan lainnya - transaksi                         Bank Indonesia and other banks, other
               perdagangan, tagihan atas efek-efek yang                       receivables - trading transactions, securities
               dibeli dengan janji dijual kembali, tagihan                    purchased under agreements to resell,
               akseptasi dan aset lain-lain                                   acceptance receivables and other assets

               Penempatan pada Bank Indonesia dan bank                        Placements with Bank Indonesia and other
               lain merupakan penanaman dana dalam                            banks represent placements in the form of
               bentuk Deposit Facility, FASBI Syariah, Call                   deposit facility, sharia FASBI, call money,
               Money, penempatan “fixed term”, deposito                       fixed-term placements, time deposits and
               berjangka dan lain-lain.                                       others

               Nilai tercatat dari giro pada Bank Indonesia                   The carrying amount of current accounts,
               dan bank lain, penempatan overnight                            placements and overnight deposits, which
               dengan suku bunga mengambang adalah                            uses floating rate, is a reasonable
               perkiraan yang layak atas nilai wajar.                         approximation of fair value.


               Estimasi nilai wajar terhadap penempatan                       The estimated fair value of fixed interest
               dengan suku bunga tetap, tagihan lainnya -                     bearing placements, other receiveables -
               transaksi perdagangan, tagihan atas efek-                      trading transactions, securities purchased
               efek yang dibeli dengan janji dijual kembali,                  under agreements to resell, acceptance
               tagihan akseptasi dan aset lain-lain                           receivables and other assets is based on
               ditetapkan berdasarkan diskonto arus kas                       discounted cash flows using prevailing money
               dengan menggunakan suku bunga pasar                            market interest rates for debts with similar
               uang yang berlaku untuk utang dengan risiko                    credit risk and remaining maturity. Since the
               kredit dan sisa jatuh tempo yang serupa.                       remaining maturity is below one year, the
               Dikarenakan sisa jatuh tempo di bawah satu                     carrying amount of fixed interest bearing
               tahun, nilai tercatat dari penempatan dengan                   placements, other receiveables - trading
               suku bunga tetap, tagihan lainnya - transaksi                  transactions, securities purchased under
               perdagangan, tagihan atas efek-efek yang                       agreements to resell, acceptance receivables
               dibeli dengan janji dijual kembali, tagihan                    and     other   assets    is a     reasonable
               akseptasi dan aset lain-lain adalah perkiraan                  approximation of fair value.
               yang layak atas nilai wajar.

         (ii) Efek-efek dan obligasi pemerintah (diukur                 (ii) Government Securities and Bonds (measured
              pada biaya perolehan dan biaya perolehan                       at cost and amortised cost)
              diamortisasi)

               Nilai wajar untuk efek-efek dan obligasi                       The fair value for government securities and
               pemerintah yang diukur pada biaya                              bonds measured at cost and amortised cost is
               perolehan dan biaya perolehan diamortisasi                     determined based on market prices or
               ditetapkan berdasarkan harga pasar atau                        intermediary (broker)/dealer quotes. If this
               harga kuotasi perantara (broker)/pedagang                      information is not available, the fair value is
               efek (dealer). Jika informasi ini tidak                        estimated using market prices of similar credit,
               tersedia, nilai wajar diestimasi dengan                        maturity and yield securities or evaluated
               menggunakan harga pasar kuotasi efek yang                      using internal valuation methods.
               memiliki karakteristik kredit, jatuh tempo dan
               yield yang serupa atau dinilai dengan
               menggunakan metode valuasi internal.




                                                                 418                                       ANNUAL REPORT 2023    1485
Page 979
            MAIN                        MANAGEMENT                            COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                               PROFILE                        ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                      FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                      31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)             (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                     62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                 B.   Market risk and liquidity risk (continued)

                (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)            (v) Fair value of financial assets and liabilities
                                                                                       (continued)

                     (iii) Kredit      yang      diberikan       dan                    (iii) Loans and Sharia Receivables/Financing,
                           piutang/pembiayaan    syariah,    piutang                          Consumer Financing Receivables and Net
                           pembiayaan konsumen serta investasi bersih                         Investment in Finance Leases
                           dalam sewa pembiayaan

                         Kredit         yang        diberikan        dan                    Loans and sharia receivables/financing,
                         piutang/pembiayaan         syariah,     piutang                    consumer financing receivables and net
                         pembiayaan konsumen serta investasi bersih                         Investment in finance leases are recorded at
                         dalam     sewa      pembiayaan       dinyatakan                    carrying amount net of charges for
                         berdasarkan jumlah nilai tercatat setelah                          impairment. The estimated fair value of loans
                         dikurangi dengan beban penurunan nilai.                            and sharia receivables/financing, consumer
                         Estimasi nilai wajar dari kredit yang diberikan                    financing receivables, and net investment in
                         dan piutang/pembiayaan syariah, piutang                            finance leases represents the discounted
                         pembiayaan konsumen serta investasi bersih                         amount of estimated future cash flows
                         dalam sewa pembiayaan mencerminkan                                 expected to be received. The fair value of
                         jumlah diskonto dari estimasi kini dari arus                       loans and consumer financing receivables is
                         kas masa depan yang diharapkan akan                                determined by discounting the expected future
                         diterima. Nilai wajar dari kredit yang                             cash flows at current market interest rates.
                         diberikan dan piutang/pembiayaan syariah,
                         piutang pembiayaan konsumen serta
                         investasi bersih dalam sewa pembiayaan
                         ditentukan dengan mendiskontokan arus kas
                         yang diharapkan pada tingkat suku bunga
                         pasar terkini.

                     (iv) Simpanan nasabah dan simpanan dari bank                       (iv) Deposits from customers and other banks,
                          lain, liabilitas atas efek-efek yang dijual                        securities sold under agreements to
                          dengan janji dibeli kembali, liabilitas                            repurchase, acceptance payables and other
                          akseptasi dan liabilitas lain-lain                                 liabilities

                         Estimasi nilai wajar simpanan yang bisa                            The estimated fair value of deposits that can
                         ditarik kembali sewaktu-waktu, termasuk                            be withdrawn at any time, includes non-
                         simpanan tanpa bunga, adalah sebesar                               interest bearing deposits, is the payable
                         jumlah terutang/nilai tercatat ketika utang                        amount/carrying amount when the payable is
                         tersebut dibayarkan.                                               paid.

                         Estimasi nilai wajar simpanan dengan tingkat                       The estimated fair value of fixed interest
                         suku bunga tetap, liabilitas atas efek-efek                        bearing deposits, securities sold under
                         yang dijual dengan janji dibeli kembali,                           agreements to repurchase, acceptance
                         liabilitas akseptasi dan liabilitas lain-lain yang                 payables and other liabilities not quoted in an
                         tidak memiliki kuotasi di pasar aktif                              active market is based on discounted cash
                         ditetapkan berdasarkan diskonto arus kas                           flows using interest rates for new debts with
                         dengan menggunakan suku bunga utang                                similar remaining maturity. As the remaining
                         baru dengan sisa jatuh tempo yang serupa.                          maturity is below one year, the carrying
                         Dikarenakan sisa jatuh tempo di bawah satu                         amount of fixed interest bearing deposits,
                         tahun, nilai tercatat dari simpanan dengan                         acceptance payables and other liabilities is a
                         tingkat bunga tetap, liabilitas akseptasi dan                      reasonable approximation of fair value.
                         liabilitas lain-lain adalah perkiraan yang
                         layak atas nilai wajar.




1486 PT Bank Mandiri (Persero) Tbk                                               419
Page 980
     CORPORATE                     ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                       LAPORAN
                                                                                                                      Financial
     GOVERNANCE                    & PRACTICES                       RESPONSIBILITY                                 KEUANGAN   2023
                                                                                                                      Statements 2023


                                            PT BANK MANDIRI (PERSERO) Tbk.
                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                     62. RISK MANAGEMENT (continued)
    B.   Risiko pasar dan risiko likuiditas (lanjutan)                      B.     Market risk and liquidity risk (continued)
    (v) Nilai wajar aset dan liabilitas keuangan (lanjutan)                 (v) Fair value of financial assets and liabilities
                                                                                (continued)

         (v) Efek-efek yang diterbitkan, pinjaman yang                             (v) Debt securities issued, fund borrowings and
             diterima dan pinjaman dan efek-efek                                       subordinated loans and marketable securities
             subordinasi

                 Nilai wajar agregat dihitung berdasarkan                               The aggregate fair values are calculated
                 harga pasar kuotasi. Jika informasi ini tidak                          based on quoted market prices. When
                 tersedia, model diskonto arus kas digunakan                            information is not available, a discounted cash
                 berdasarkan kurva yield terkini yang sesuai                            flow model is used based on the current yield
                 dengan sisa periode jatuh temponya.                                    curve appropriate for the remaining term to
                                                                                        maturity.

    (vi) Value at Risk (VaR)                                                (vi) Value at Risk (VaR)

         Dalam pelaksanaan pengelolaan risiko pasar                                The implementation of managing market risk of
         trading, Bank menerapkan prinsip segregation of                           trading, the Bank’s applies segregation of duties
         duties dengan cara melakukan pemisahan antara                             principle by separation front office unit (conduct
         unit front office (melaksanakan transaksi trading),                       trading transaction), middle office unit (conduct
         unit middle office (melaksanakan proses                                   process of risk management as well as develop
         manajemen risiko serta menyusun kebijakan dan                             policies and procedures) and back office unit
         prosedur) dan unit back office (melaksanakan                              (conduct process of settlement transaction).
         proses settlement transaksi).

         Analisa risiko pasar atas aktivitas trading treasury                      Daily market risk analysis of trading treasury
         dilakukan      secara    harian       menggunakan                         activities using best practice approach by consider
         pendekatan sesuai best practice yang ada dan                              internal and external policies, such as through
         mengacu pada ketentuan internal dan eksternal                             calculation of VaR.
         yang berlaku, salah satunya melalui perhitungan
         VaR.

         VaR adalah potensi kerugian maksimum dari                                 VaR is the maximum potential loss from the Bank's
         posisi portofolio Bank (open position) dengan                             portfolio position (open position) with a certain
         confidence level dan holding period tertentu                              confidence level and holding period under normal
         dalam kondisi pasar yang normal. Metode                                   market conditions. The VaR calculation method
         perhitungan VaR yang digunakan bank yaitu                                 used by the bank is the Historical Simulation
         metode Historical Simulation yang tidak                                   method which does not require the assumption that
         membutuhkan asumsi bahwa pergerakan faktor                                the movement of market factors is normally
         pasar terdistribusi normal. Bank menghitung VaR                           distributed. The bank calculates VaR based on 250
         berdasarkan 250 hari data faktor pasar historis.                          days of historical market factor data.


         Realisasi VaR 31 Desember 2023 dan 2022                                   VaR realisation as of 31 December 2023 and 2022
         (tidak diaudit) adalah sebagai berikut:                                   (unaudited) are as follows:
                                                                            2023

                                                VaR             VaR                  VaR              VaR
                                              Rata-rata/     Maksimum/             Minimum/      Akhir Periode/
                                              Average         Maximum              Minimum       End of period
                                                VaR             VaR                  VaR              VaR


         Jenis risiko                                                                                                               Type of risk
         Risiko suku bunga*)                        24.583         47.974               12.661            18.991               Interest rate risk*)
         Risiko nilai tukar                         32.655         85.253                3.356            25.636          Foreign exchange risk

         Total                                      37.289         86.076               15.257            33.058                            Total




                                                                         420                                         ANNUAL REPORT 2023               1487
Page 981
            MAIN                                 MANAGEMENT                                 COMPANY                                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                           REPORTS                                    PROFILE                                             ANALYSIS


                                                            PT BANK MANDIRI (PERSERO) Tbk.
                                                       DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                                         FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                                         31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                                       62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                                      B.     Market risk and liquidity risk (continued)

                (vi) Value at Risk (VaR) (lanjutan)                                                     (vi) Value at Risk (VaR) (continued)

                     Realisasi VaR 31 Desember 2023 dan 2022                                                    VaR realisation as of 31 December 2023 and 2022
                     (tidak diaudit) adalah sebagai berikut (lanjutan):                                         (unaudited) are as follows (continued):
                                                                                                        2022

                                                                  VaR                      VaR                   VaR                       VaR
                                                                Rata-rata/              Maksimum/              Minimum/               Akhir Periode/
                                                                Average                  Maximum               Minimum                End of period
                                                                  VaR                      VaR                   VaR                       VaR


                     Jenis risiko                                                                                                                                            Type of risk
                     Risiko suku bunga*)                              30.661                  59.043                  11.150                   37.069                   Interest rate risk*)
                     Risiko nilai tukar                               15.341                  51.469                   1.981                   20.428              Foreign exchange risk

                     Total                                            35.415                  73.388                  14.180                   42.614                                Total


                     *)   Hanya posisi trading book.                                                           *)    Only trading book position

                     Bank melakukan backtesting untuk memastikan                                               The Bank performs backtesting to ensure the
                     keakuratan metode perhitungan VaR dalam                                                   accuracy of the VaR calculation method in
                     memprediksi laba/rugi aktivitas treasury. Metode                                          predicting the profit/loss of treasury activities.
                     backtesting dilakukan dengan membandingkan                                                Backtesting method compares the daily profit/loss
                     laba/rugi harian dengan nilai VaR yang dihitung                                           with the VaR calculated by the Bank.
                     oleh Bank.

                     Hasil backtesting periode Desember 2023                                                   Backtesting result for the period December 2023
                     menunjukkan bahwa perhitungan VaR yang telah                                              shows that the VaR calculation has been
                     dilakukan akurat, dimana jumlah penyimpangan                                              performed accurately, where the number of
                     P/L terhadap daily VaR masih dapat diterima.                                              irregularities of Profit/Loss to the daily VaR is still
                                                                                                               acceptable.

                (vii) Manajemen kas                                                                     (vii) Cash management

                     Kas terdiri atas:                                                                         Details of cash are as follows:
                                                                                 2023                                          2022

                                                                   Jumlah                                         Jumlah
                                                                 ekuivalen                                      ekuivalen
                                                                  nosional                                       nosional
                                                                 mata uang                                      mata uang
                                                                    asing                                          asing
                                                              (dalam ribuan)/                                (dalam ribuan)/
                                                                  Notional                                       Notional
                                                                 amount of                                      amount of
                                                                   foreign                                        foreign
                                                                  currency                                       currency
                                                                 equivalent                                     equivalent
                                                              (in thousands)             Rupiah              (in thousands)              Rupiah

                     Rupiah                                                  -             23.220.420                          -           24.528.263                               Rupiah

                     Mata uang asing                                                                                                                                    Foreign currencies
                        Dolar Amerika Serikat                        115.908                1.784.628                 70.103                1.091.335            United States Dollar
                        Dolar Singapura                               16.739                  195.452                 53.268                  617.527                 Singapore Dollar
                        Dolar Australia                               29.345                  308.730                 33.128                  349.762                 Australian Dollar
                        Euro Eropa                                    24.152                  411.511                 21.974                  364.359                  European Euro
                        Yuan China                                     1.975                    4.286                  2.702                    6.050                   Chinese Yuan
                        Yen Jepang                                   581.383                   63.301                387.217                   45.618                   Japanese Yen
                        Pound Sterling Inggris                         3.202                   62.835                  2.056                   38.631     Great Britain Pound Sterling
                        Dolar Hong Kong                                6.124                   12.068                 15.787                   31.520                Hong Kong Dollar
                        Lain-lain                                     23.934                  368.509                  8.973                  139.694                           Others

                                                                     802.762               26.431.740                595.208               27.212.759



                     Pada tanggal-tanggal 31 Desember 2023 dan                                                 As of 31 December 2023 and 2022, the cash
                     2022 saldo kas tersebut, sudah termasuk uang                                              balance, including money at the ATM (Automatic
                     pada mesin ATM (Anjungan Tunai Mandiri),                                                  Teller Machine), amounted to Rp7,012,615 and
                     masing-masing sebesar Rp7.012.615 dan                                                     Rp7,615,386, respectively.
                     Rp7.615.386.




1488 PT Bank Mandiri (Persero) Tbk                                                                  421
Page 982
     CORPORATE                   ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                           Financial
     GOVERNANCE                  & PRACTICES                    RESPONSIBILITY                           KEUANGAN   2023
                                                                                                           Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                 62. RISK MANAGEMENT (continued)
    B.   Risiko pasar dan risiko likuiditas (lanjutan)             B.   Market risk and liquidity risk (continued)
    (viii) Dampak Reformasi Acuan Suku Bunga                       (viii) Impact of Interest Rate Benchmark Reform
         Pada tahun 2017, Financial Conduct Authority                   In 2017, the UK Financial Conduct Authority (FCA)
         (FCA) Inggris mengumumkan rencana untuk                        announced plans to stop using LIBOR by the end of
         menghentikan penggunaan LIBOR pada akhir                       2020. In November 2020, the ICE Benchmark
         tahun 2020. Pada November 2020, ICE                            Administration (IBA) officially announced plans to
         Benchmark Administration (IBA) mengumumkan                     stop publishing the LIBOR benchmark interest rate.
         secara resmi rencana untuk menghentikan                        In response to the latest conditions, on 05 March
         publikasi suku bunga acuan LIBOR. Sebagai                      2021, FCA announced a plan to partially suspend
         tanggapan atas kondisi terbaru, pada tanggal 5                 the publication of the LIBOR benchmark interest
         Maret 2021, FCA mengumumkan rencana                            rate by the IBA which will be held in 2 (two) stages
         penundaan sebagian penghentian publikasi suku                  as follows:
         bunga acuan LIBOR oleh IBA tersebut yang akan
         diadakan dalam 2 (dua) tahap sebagai berikut:
         1. Pada 31 Desember 2021 untuk suku bunga                      1.   As of 31 December 2021, the reference interest
            acuan LIBOR semua tenor dalam mata uang                          rate is LIBOR for all tenors in GBP, EUR, CHF
            GBP, EUR, CHF dan JPY serta dalam mata                           and JPY and in USD for 1 (one) week and 2
            uang USD untuk tenor 1 (satu) minggu dan 2                       (two) months tenors.
            (dua) bulan.
         2. Pada 31 Desember 2023 untuk suku bunga                      2.   On 31 December 2023, the reference interest
            acuan LIBOR dalam mata uang USD untuk                            rate is LIBOR in USD for the Overnight tenor, 1
            tenor Overnight, 1 (satu) bulan, 3 (tiga) bulan,                 (one) month, 3 (three) months, 6 (six) months
            6 (enam) bulan dan 12 (dua belas) bulan.                         and 12 (twelve) months.
         Eksposur risiko Bank yang secara langsung                      The Bank's risk exposures that are directly affected
         terdampak dari reformasi acuan suku bunga terdiri              by the interest rate benchmark reform consist of a
         dari portfolio kredit korporasi, transaksi derivatif           portfolio of corporate loans, derivative transactions
         dan borrowing yang menggunakan suku bunga                      and borrowing using the USD LIBOR benchmark
         acuan USD LIBOR.                                               interest rate.
         Saat ini Bank telah berencana menggunakan suku                 Currently, the Bank plans to use the Secured
         bunga acuan Secured Overnight Financing Rate                   Overnight Financing Rate (SOFR) benchmark
         (SOFR) atau suku bunga acuan lain yang                         interest rate or other agreed benchmark interest rate
         disepakati untuk menggantikan suku bunga acuan                 to replace the USD LIBOR benchmark interest rate.
         USD LIBOR. Terkait suku bunga acuan SOFR,                      Regarding the SOFR benchmark interest rate, there
         terdapat beberapa perbedaan antara USD LIBOR                   are several differences between USD LIBOR and
         dan SOFR. USD LIBOR adalah “term rate”, yang                   SOFR. USD LIBOR is the “term rate”, which means
         berarti USD LIBOR dipublikasikan untuk beberapa                that USD LIBOR is published for several loan
         periode pinjaman (sebagai contoh 3 (tiga) bulanan              periods (for example 3 (three) months or 6 (six)
         atau 6 (enam) bulanan) dan bersifat “forward                   months) and is “forward looking” (LIBOR is
         looking” (LIBOR dipublikasikan pada awal                       published at the beginning of the period), while
         periode), sedangkan SOFR merupakan suku                        SOFR is the rate “backward-looking” benchmark
         bunga acuan yang bersifat “backward looking”,                  interest rate, based on the overnight interest rate of
         berdasarkan suku bunga overnight dari transaksi                actual transactions, and published at the end of the
         actual, dan dipublikasikan pada akhir periode                  overnight period. In addition, LIBOR is an interest
         overnight. Selain itu, LIBOR merupakan tingkat                 rate that has taken into account credit spreads,
         suku bunga yang telah memperhitungkan credit                   while SOFR is currently an almost risk free interest
         spread, sementara SOFR saat ini adalah suku                    rate based on US Treasury repurchase agreement
         bunga yang hampir risk free berdasarkan transaksi              (repo) market transactions. In order to make the
         pasar repurchase agreement (repo) US Treasury.                 transition of contracts and agreements that currently
         Untuk melakukan transisi atas kontrak dan                      refer to USD LIBOR to refer to the alternative
         perjanjian yang saat ini mengacu ke USD LIBOR                  benchmark interest rate (SOFR), adjustments are
         menjadi mengacu ke suku bunga acuan alternatif                 needed to ensure that the two benchmark interest
         (SOFR),      diperlukan    penyesuaian      untuk              rates are economically equivalent.
         memastikan bahwa kedua suku bunga acuan
         tersebut secara ekonomis setara.

         Pada tahun 2020, Bank telah membentuk komite,                  In 2020, the Bank has formed a committee,
         yang terdiri dari unit kerja Treasury, Kredit, Risk,           consisting of Treasury, Credit, Risk, IT, Legal,
         IT, Legal, Compliance, dan Keuangan untuk                      Compliance, and Finance work units to formulate a
         menyusun strategi transisi USD LIBOR. Komite                   USD LIBOR transition strategy. The LIBOR
         Transisi LIBOR ini dibentuk untuk meminimalisasi               Transition Committee was formed to minimize the
         potensi disrupsi bisnis dan memitigasi risiko                  potential for business disruption and mitigate
         operasional, hukum, kepatuhan serta keuangan.                  operational, legal, compliance and financial risks.
         Inisiatif transisi LIBOR mempertimbangkan                      The LIBOR transition initiative considers changes to
         perubahan pada sistem informasi, proses,                       information systems, processes, risk management
         manajemen risiko, dan model valuasi instrumen                  and financial instrument valuation models and
         keuangan serta mengkaji dampak akuntansi dan                   examines the impact of accounting and taxation.
         perpajakan.



                                                                 422                                      ANNUAL REPORT 2023     1489
Page 983
            MAIN                        MANAGEMENT                           COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                              PROFILE                        ANALYSIS


                                                      PT BANK MANDIRI (PERSERO) Tbk.
                                                 DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                    62. RISK MANAGEMENT (continued)

                B.   Risiko pasar dan risiko likuiditas (lanjutan)                B.   Market risk and liquidity risk (continued)

                (viii) Dampak Reformasi Acuan Suku Bunga (lanjutan)               (viii) Impact of Interest Rate Benchmark Reform
                                                                                        (continued)

                     Dari segi manajemen risiko pasar, Bank telah                      In terms of market risk management, the Bank has
                     mengidentifikasi dan mengantisipasi perubahan                     identified and anticipated changes that will occur in
                     yang akan terjadi pada aspek - aspek antara lain                  aspects including changes in market data, which in
                     perubahan market data, yang selanjutnya                           turn will have an impact on the results of the mark to
                     berdampak pada hasil perhitungan mark to market,                  market calculation, VaR calculation and monitoring,
                     perhitungan dan monitoring VaR, dan perhitungan                   and other calculations related to market risk. With
                     lain - lain terkait risiko pasar. Terhadap perubahan-             regard to these changes, the Bank has made
                     perubahan yang terjadi tersebut, Bank telah                       adjustments to the market risk management system
                     melakukan penyesuaian pada sistem manajemen                       and has reported system enhancement realisation
                     risiko pasar dan ketentuan internal terkait, serta                to the regulator.
                     telah melaporkan realisasi enhancement pada
                     sistem ke Regulator.

                     Dalam hal kaitannya dengan risiko likuiditas,                     In terms of liquidity risk, changes in the LIBOR
                     perubahan atas suku bunga acuan LIBOR menjadi                     benchmark interest rate to another alternative
                     suku bunga acuan alternatif lain juga dapat                       benchmark interest rate may also have an impact on
                     berdampak pada kondisi likuiditas Bank. Dalam hal                 the Bank's liquidity condition. In this case, changes
                     ini, perubahan nominal pembayaran bunga kredit,                   in the nominal payment of credit interest, derivative
                     transaksi derivatif dan/atau bunga pinjaman dapat                 transactions and/or loan interest may affect the
                     berpengaruh pada nilai arus kas yang diterima                     value of cash flows received or paid by the Bank,
                     atau dibayarkan oleh Bank, antara lain yang                       including those measured in the Liquidity Coverage
                     terukur dalam indikator Liquidity Coverage Ratio                  Ratio (LCR) and Net Stable Funding Ratio (NSFR)
                     (LCR) dan Net Stable Funding Ratio (NSFR).                        indicators. However, this impact is not expected to
                     Namun demikian, dampak tersebut diperkirakan                      significantly affect the Bank's overall liquidity
                     tidak signifikan mempengaruhi kondisi likuiditas                  condition.
                     Bank secara keseluruhan.
                     Sebagai bentuk mitigasi risiko pasar, per posisi                  As a form of market risk mitigation, as of
                     31 Desember 2023, Bank telah mengidentifikasi                     31 December 2023, the Bank has identified the
                     kebutuhan perubahan pada sistem informasi dan                     need for changes to the information system and the
                     Bank telah melakukan penyesuaian pada sistem                      Bank has made adjustments to the system. The
                     tersebut. Bank juga telah melakukan kajian yang                   Bank has also conducted studies needed in the
                     dibutuhkan dalam proses transisi terkait proses                   transition process related to the process and model
                     dan model valuasi instrumen keuangan. Saat ini                    of the valuation of financial instruments. Currently,
                     Bank telah melakukan komunikasi dengan                            the Bank has communicated with affected
                     counterparty dan/atau nasabah yang terdampak                      counterparties and/or customers to provide the
                     untuk memberikan informasi terkini terkait                        latest information regarding changes that may occur
                     perubahan yang mungkin terjadi akibat dari                        as a result of the reform of the interest rate
                     reformasi acuan suku bunga, secara khusus USD                     reference, specifically USD LIBOR, either through
                     LIBOR, baik melalui sosialisasi, diskusi maupun                   socialization, discussion or in writing. The Bank has
                     tertulis. Bank telah mengidentifikasi area yang                   identified areas that have a significant risk of
                     memiliki     risiko    yang   signifikan    terhadap              discontinuing USD LIBOR, namely developing
                     penghentian USD LIBOR, yaitu melakukan                            information systems and adjusting business
                     pengembangan pada sistem informasi dan                            processes to accommodate the use of alternative
                     penyesuaian        proses   bisnis    untuk     dapat             reference interest rates, conducting contract
                     mengakomodasi penggunaan suku bunga acuan                         amendments/repapering and/or reviewing fallback
                     alternatif,          melakukan          amendemen                 clauses on existing contracts. In addition to carrying
                     kontrak/repapering dan/atau melakukan kajian                      out continuous efforts in monitoring the latest
                     fallback clause pada kontrak existing. Selain                     conditions related to the USD LIBOR transition, the
                     melakukan         usaha     berkelanjutan      dalam              Bank has also conducted more intensive
                     pemantauan kondisi terkini terkait transisi USD                   discussions with industry players both from within
                     LIBOR, Bank juga telah melakukan diskusi lebih                    and outside the country in the context of
                     intensif dengan pelaku industri baik yang berasal                 benchmarking and communication with Regulators
                     dari dalam maupun luar negeri dalam rangka                        to ensure the transition of changes in the
                     benchmark serta komunikasi dengan Regulator                       benchmark interest rate from USD LIBOR to
                     untuk memastikan transisi perubahan suku bunga                    alternative interest rates went well, also to minimize
                     acuan dari USD LIBOR ke suku bunga acuan                          the risk arising from the transition process. As a
                     alternatif berjalan dengan baik, sekaligus                        long-term follow-up, the Bank will continuously
                     meminimalisasi risiko yang muncul dari proses                     assess and prepare for mitigation of the risks that
                     transisi tersebut. Sebagai tindak lanjut jangka                   will arise from the said USD LIBOR transition.
                     panjang, Bank akan secara berkelanjutan menilai
                     dan mempersiapkan mitigasi atas risiko yang akan
                     timbul dari transisi USD LIBOR dimaksud.




1490 PT Bank Mandiri (Persero) Tbk                                              423
Page 984
     CORPORATE                   ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL                      LAPORAN
                                                                                                                    Financial
     GOVERNANCE                  & PRACTICES                        RESPONSIBILITY                                KEUANGAN   2023
                                                                                                                    Statements 2023


                                          PT BANK MANDIRI (PERSERO) Tbk.
                                     DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                     62. RISK MANAGEMENT (continued)
    B.   Risiko pasar dan risiko likuiditas (lanjutan)                     B.    Market risk and liquidity risk (continued)
    (viii) Dampak Reformasi Acuan Suku Bunga (lanjutan)                    (viii) Impact of Interest Rate Benchmark Reform
                                                                                 (continued)
         Berikut adalah informasi kuantitatif tentang                           The following is quantitative information about
         instrumen keuangan yang belum beralih ke acuan                         financial instruments that have not yet switched to
         suku bunga alternatif pada tanggal 31 Desember                         alternative reference rates as of 31 December 2023
         2023 dan 2022, yang menunjukkan secara                                 and 31 December 2023, which separately shows
         terpisah aset       keuangan non derivatif kredit                      non-derivative corporate credit financial assets,
         korporasi, liabilitas keuangan non derivatif                           borrowing, and derivative non-derivative financial
         borrowing dan derivatif (Bank Mandiri saja).                           liabilities (bank only).

                                                                    2023
                                                           Aset/                Liabilitas/
                                                          Assets                Liabilities

         Non Derivatif                                                                                               Non Derivatives
         Kredit yang diberikan                                       -                         -                                Loans
         Pinjaman yang diterima                                      -                         -                      Fund borrowings

                                                   Nilai kontrak
                                                 USD nilai penuh/
                                                  Contract Value                Nilai wajar/
                                                     Full USD                   Fair Value

         Derivatif                                                                                                         Derivatives
         Tagihan derivatif                                177.050.000                  110.120                  Derivatives receivables
         Liabilitas derivatif                              20.000.000                  (18.463)                   Derivatives liabilities

                                                                    2022
                                                           Aset/                Liabilitas/
                                                          Assets                Liabilities

         Non Derivatif                                                                                               Non Derivatives
         Kredit yang diberikan                            101.863.963                        -                                  Loans
         Pinjaman yang diterima                                     -               (6.189.545)                       Fund borrowings

                                                   Nilai kontrak
                                                 USD nilai penuh/
                                                  Contract Value                Nilai wajar/
                                                     Full USD                   Fair Value

         Derivatif                                                                                                         Derivatives
         Tagihan derivatif                               1.303.785.646                 978.504                  Derivatives receivables
         Liabilitas derivatif                            1.104.892.187                (848.192)                   Derivatives liabilities
    C.   Risiko operasional                                                C. Operational risk
         Risiko   operasional    adalah     risiko   akibat                      Operational risk is a risk due to inadequacy and/or
         ketidakcukupan dan/atau tidak berfungsinya                              dysfunctional internal process, human error,
         proses internal, kesalahan manusia, kegagalan                           systems failure or external factors which impact the
         sistem atau adanya faktor eksternal yang                                Bank’s operations. The effectiveness of operational
         mempengaruhi operasional Bank. Pengelolaan                              risk management can reduce losses due to
         atas risiko operasional secara efektif dapat                            operational risk.
         menekan kerugian akibat risiko operasional.
         Dalam rangka mengelola risiko operasional secara                        In order to the achieve the effectiveness of
         efektif, Bank menyusun kerangka kerja yang                              operational risk management, the Bank has
         mengacu pada regulasi Bank Indonesia, Otoritas                          established a framework based on Bank Indonesia,
         Jasa Keuangan, Basel dan best practice di industri                      Financial Services Authority, Basel and best
         baik lokal maupun global. Bank saat ini telah                           practice in both local and global industries. The
         memiliki Kebijakan Manajemen Risiko, Standar                            Bank has implemented Bank Mandiri’s Risk
         Prosedur    Operasional    Manajemen       Risiko                       Management        Policy,  Standard    Operating
         Operasional dan Petunjuk Teknis Operasional                             Procedures for Operational Risk Management and
         Manajemen Risiko Operasional, yang meliputi                             Technical Guidelines for Operational Risk
         aspek governance maupun sistem pelaporan.                               Management covering both aspects of governance
                                                                                 and reporting systems.


                                                                         424                                       ANNUAL REPORT 2023       1491
Page 985
            MAIN                       MANAGEMENT                         COMPANY                             MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                             ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)         (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                                 62. RISK MANAGEMENT (continued)

                C.   Risiko operasional (lanjutan)                             C. Operational risk (continued)

                     Managing risk through operation                                Managing risk through operation

                     Dalam pengelolaan risiko operasional, Bank telah:              In managing operational risk, the Bank has:
                     (i)    Menetapkan risk governance pengelolaan                  (i)   Established risk governance of operational
                            risiko operasional.                                           risk management.
                     (ii)   Menetapkan kebijakan dan prosedur serta                 (ii)  Established policies and procedures and
                            melakukan review secara berkala.                              conducts periodic review.
                     (iii)  Menetapkan operational risk appetite                    (iii) Established     operational      risk  appetite
                            statement.                                                    statement.
                     (iv)   Menyusun metodologi dan perangkat                       (iv)  Designed methodologies and tools for
                            pengelolaan risiko operasional.                               operational risk management.
                     (v)    Mengembangkan                          dan              (v)   Developed       and       implemented     Risk
                            mengimplementasikan        program     Risk                   Awareness       Program        for    managing
                            Awareness pengelolaan risiko operasional                      operational risk for all employees.
                            terhadap seluruh karyawan.
                     (vi)   Mendesain,       mengembangkan         dan              (vi)         Designed, developed, and implemented
                            mengimplementasikan Operational Risk                                 Operational Risk Management System.
                            Management System.
                     (vii)  Menjalankan implementasi pengelolaan                    (vii)        Implemented       the      operational risk
                            risiko operasional ke seluruh unit kerja                             management to the all units (Head Office
                            (Kantor Pusat dan Kantor Wilayah)                                    and Regional Offices) including the
                            termasuk implementasi Operational Risk                               operational risk management tools (ORM
                            Management Tools (ORM Tools).                                        Tools).
                     (viii) Melaksanakan monitoring dan pelaporan                   (viii)       Performed monitoring and reporting for
                            internal maupun eksternal (regulator).                               internal and external (regulator).
                     (ix)   Mengembangkan kompetensi standar untuk                  (ix)         Developed standard competencies for
                            pegawai yang terlibat dalam aktivitas                                employees involved in the implementation of
                            implementasi kerangka kerja manajemen                                operational risk management framework
                            risiko operasional.                                                  activities.

                     Pelaksanaan operational risk governance                        The implementation of operational risk governance
                     dilakukan melalui:                                             begins with:
                     (i) Pengawasan aktif Dewan Komisaris dan                       (i)   Active monitoring by Board of Commissioners
                          Direksi                                                        and Directors
                     (ii) Pelaksanaan pengelolaan risiko operasional                (ii) The implementation of operational risk
                          disupervisi oleh Direktur Manajemen Risiko                     management is supervised by Director of Risk
                          yang didukung dengan keterlibatan:                             Management which supported by the
                                                                                         involvement of:
                         •   Risk Management & Credit Policy                             • Risk Management & Credit Policy
                             Committee                                                       Committee
                         •   Unit Kerja Pembina Manajemen Risiko                         • Operational Risk Management and
                             Operasional                                                     Development Unit
                         •   Unit     Kerja     Manajemen Risiko                         • Operational Risk Management Unit
                             Operasional
                         •   Unit Kerja Pemilik dan Pengendali                               •    Business Unit and Risk Controlling Unit
                             Risiko
                         •   Unit Kerja Kepatuhan                                            •    Compliance Unit
                         •   Unit Kerja Internal Audit                                       •    Internal Audit Unit

                     Bank telah menetapkan kebijakan dan prosedur                   The Bank has established internal policies and
                     internal dalam Manajemen Risiko Operasional                    procedures for Operational Risk Management
                     yang mengacu pada Kebijakan Manajemen                          referred to as Risk Management Policy, which is the
                     Risiko, yang menjadi landasan implementasi                     basis of risk management implementation.
                     manajemen risiko.




1492 PT Bank Mandiri (Persero) Tbk                                           425
Page 986
     CORPORATE                    ESG COMMITMENTS                  SOCIAL AND ENVIRONMENTAL                  LAPORAN
                                                                                                               Financial
     GOVERNANCE                   & PRACTICES                      RESPONSIBILITY                            KEUANGAN   2023
                                                                                                               Statements 2023


                                           PT BANK MANDIRI (PERSERO) Tbk.
                                      DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)


62. MANAJEMEN RISIKO (lanjutan)                                    62. RISK MANAGEMENT (continued)

    C.   Risiko operasional (lanjutan)                                C. Operational risk (continued)

         Managing risk through operation (lanjutan)                       Managing risk through operation (continued)

         Terkait dengan ORM Tools, ORM Tools yang                         The ORM Tools used by the Bank are:
         dipergunakan Bank adalah:                                        (i) Risk & Control Self Assessment (RCSA), is a
          (i) Risk & Control Self Assessment (RCSA),                           register of risk identification and main control
               merupakan sebuah register atas identifikasi                     of the business processes within the Bank,
               risiko dan kontrol utama dari proses bisnis                     where inherent risk rating and control
               yang ada di Bank, yang secara periodik                          effectiveness either through control testing or
               dilakukan penilaian/assessment terhadap                         by consensus are periodically assessed. The
               inherent risk rating dan efektivitas kontrol baik               testing of inherent risk rating and control rating
               melalui pengujian kontrol (Control Testing)                     generated residual risk value which become a
               maupun       secara     konsensus.     Penilaian                component of operational risk profile. The
               inherent risk rating dan control rating                         residual risk level is minimized by taking
               menghasilkan nilai residual risk dan menjadi                    necessary mitigations before risk occurs.
               bagian dari profil risiko operasional. Tingkat
               risiko residual dijaga seminimal mungkin
               dengan mengambil tindakan yang diperlukan
               untuk mitigasi sebelum risiko terjadi.
          (ii) Loss Event Database, merupakan database                    (ii)    Loss Event Database, is a database of
               insiden risiko operasional yang dicatat secara                     operational risk incidents which recorded on
               risk based dengan tujuan sebagai lesson                            risk based basis as a lesson learned,
               learned, pemantauan tindak lanjut perbaikan                        remediation      monitoring       and      future
               kedepannya, serta sebagai salah satu                               improvements, also as a component for
               komponen untuk perhitungan modal risiko                            calculation of operational risk capital
               operasional (regulatory capital charge)                            calculation (regulatory capital charge) with the
               metode Standardized Approach (SA).                                 Standardized Approach (SA) method.
         (iii) Key Indicator (KI), merupakan early warning                (iii)   Key Indicator (KI), is an early warning signal in
               signal dalam pengelolaan risiko operasional                        operational risk management with the aim that
               dengan tujuan agar upaya mitigasi dapat                            mitigation efforts can be immediately
               segera ditentukan dan dilaksanakan sebelum                         determined and implemented before a risk
               sebuah risiko terjadi. KI mengindikasikan                          occurs. KI indicates the probability that a risk
               besar kecilnya kemungkinan suatu risiko akan                       will occur (risk based) or indicates the
               terjadi (risk based) atau mengindikasikan                          probability that a control is not implemented
               besar kecilnya kemungkinan suatu kontrol                           properly (control based). KI is set a threshold
               tidak dilaksanakan sebagaimana mestinya                            (threshold) and its realization score is
               (control based). KI ditetapkan ambang                              recorded periodically.
               batasnya (threshold) dan dicatat skor
               realisasinya secara berkala.
         (iv) Issue & Action Management (IAM),                            (iv) Issue & Action Management (IAM), is a tool to
               merupakan perangkat untuk memantau tindak                          monitor follow-up action that have been
               lanjut yang telah disusun atas isu-isu yang                        designed on identified issues through various
               ditemukan dari berbagai sumber, seperti dari                       activities, such as Control Testing, incident,
               hasil Control Testing, hasil monitoring Key                        key indicator monitoring result, self identified
               Indicator, terjadinya insiden, teridentifikasinya                  issued and other.
               suatu permasalahan (self-identified issue) dan
               lainnya.
         (v) Capital       Modelling,     merupakan       model           (v)     Capital Modelling, an operational capital
               perhitungan      modal     risiko    operasional                   calculation model (regulatory capital charge)
               (regulatory capital charge) sesuai regulasi                        that complies with applicable regulations.
               yang berlaku.

         Sebagai output dari proses Manajemen Risiko                      As the output of Operational Risk Management
         Operasional, akan dihasilkan profil risiko                       process, each unit generates operational risk profile
         operasional yang di review oleh unit Internal Audit,             reviewed by Internal Audit unit and presented to the
         dipresentasikan kepada Direksi dan Dewan                         Board of Commissioners and directors, and
         Komisaris, serta dilaporkan dalam bentuk Laporan                 submitted to the regulators periodically in the form of
         Tingkat Kesehatan Bank (Risk Based Bank                          Risk Based Bank Rating and Risk Profile. In
         Rating) dan Profil Risiko yang disampaikan                       addition, in order to manage operational risk, there
         kepada Regulator secara periodik. Selain itu,                    is an operational risk management reports that are
         dalam rangka pengelolaan risiko operasional                      submitted to management as a monitoring tool and
         terdapat laporan pengelolaan risiko operasional                  consideration for priority decision making.
         yang disampaikan kepada manajemen sebagai
         sarana monitoring dan bahan pertimbangan untuk
         mengambil tindakan prioritas.



                                                                    426                                        ANNUAL REPORT 2023     1493
Page 987
            MAIN                       MANAGEMENT                       COMPANY                       MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                          PROFILE                       ANALYSIS


                                                     PT BANK MANDIRI (PERSERO) Tbk.
                                                DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)       (Expressed in millions of Rupiah, unless otherwise stated)


            62. MANAJEMEN RISIKO (lanjutan)                               62. RISK MANAGEMENT (continued)

                C.   Risiko operasional (lanjutan)                           C. Operational risk (continued)

                     Managing risk through capital                                Managing risk through capital

                     Sesuai     ketentuan,    Bank      menggunakan               According to the regulations, the Bank utilizes the
                     Standardized Approach (SA)/Pendekatan Standar                Standardized Approach (SA) in accordance with
                     sesuai SEOJK No. 06/SEOJK.03/2020 untuk                      SEOJK No. 06/SEOJK.03/2020 for operational risk
                     perhitungan beban modal risiko operasional.                  capital charges calculation. The calculation of the
                     Perhitungan ATMR dengan Pendekatan Standar                   Risk Weighted Assets (RWA) using Standardized
                     dilakukan setiap tahun berdasarkan data                      Approach is performed annually based on
                     Komponen Kerugian Risiko Operasional selama                  Operational Risk Loss Components data for the last
                     10 (sepuluh) tahun terakhir dan data Komponen                10 (ten) years and Business Indicator Components
                     Indikator Bisnis selama 3 (tiga) tahun terakhir.             data for the last 3 (three) years. The result of
                     Hasil perhitungan dari beban modal risiko                    calculation of operational risk capital charges for
                     operasional Bank Mandiri (Bank Mandiri saja)                 Bank Mandiri (Bank Only) as of 31 December 2023
                     pada tanggal 31 Desember 2023 adalah sebesar                 amounted to Rp4,697,622.24 while for consolidation
                     Rp4.697.622,24 sedangkan secara konsolidasian                (Bank Mandiri and its subsidiaries) amounted to
                     (Bank Mandiri dengan perusahaan anak) adalah                 Rp5,466,589.11. Based on these operational risk
                     sebesar Rp5.466.589,11. Berdasarkan nilai beban              capital charges values, RWA for operational risk as
                     modal risiko operasional tersebut, nilai ATMR                of 31 December 2023 amounted to Rp58,720,278
                     risiko operasional pada tanggal 31 Desember                  (Bank Only) and Rp68,332,363.88 (consolidated).
                     2023 adalah sebesar Rp58.720.278 (Bank Mandiri
                     saja) dan Rp68.332.363,88 (konsolidasian).


            63. PERJANJIAN,      KOMITMEN       DAN    KONTINJENSI        63. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
                PENTING                                                       CONTINGENCIES

                a.   Perjanjian integrated banking system dengan             a.   Integrated banking system agreement with
                     vendor                                                       vendor

                     Pada tanggal 28 Mei 2019, Bank Mandiri                       On 28 May 2019, Bank Mandiri entered into an
                     mengadakan perjanjian dengan vendor untuk                    agreement with vendors to enhance eMAS
                     menambah fitur eMAS sesuai perjanjian                        features related to the 2019 Application
                     Application Management 2019 menggunakan                      Management agreement with the blanket order
                     system blanket order dengan nilai maksimum                   system with a maximum contract value of 6,141
                     sebanyak 6.141 mandays. Pada tanggal                         mandays. On 31 December 2023 the payment
                     31 Desember 2023 dari nilai kontrak sebesar                  realisation amounted to USD4,898,670.82 (full
                     USD4.898.670,82 (nilai penuh), Bank telah                    amount) and the Bank has recorded the payment
                     melakukan pembukuan sebagai aset tetap                       realisation as a fixed asset amounted to
                     sebesar USD4.869.245,87 (nilai penuh) dengan                 USD4,869,245.87 (full amount) with the estimated
                     estimasi    penyelesaian     pada     tanggal                project completion on 31 December 2023 is
                     31 Desember 2023 adalah 99,40%.                              99.40%.

                     Pada tanggal 25 Mei 2021, Bank Mandiri                       On 25 May 2021, Bank Mandiri entered into an
                     mengadakan perjanjian dengan vendor untuk                    agreement with vendors to add eMAS features
                     menambah fitur eMAS sesuai perjanjian                        according to the 2021 Application Management
                     Application Management 2021 menggunakan                      agreement using a blanket order system with a
                     system blanket order dengan nilai maksimum                   maximum contract value of 1,870 mandays. On
                     sebanyak 1.870 mandays. Pada tanggal                         31 December 2023, out of a contract value
                     31 Desember 2023 dari nilai kontrak sebesar                  amounted to USD1,513,307.45 (full amount) the
                     USD1.513.307,45 (nilai penuh), Bank telah                    Bank has recorded it as fixed assets amounted to
                     melakukan pembukuan sebagai aset tetap                       USD1,501,340.95 (full amount) with the estimated
                     sebesar USD1.501.340,95 (nilai penuh) dengan                 project completion position on 31 December 2023
                     estimasi    penyelesaian     pada     tanggal                is 99.21%.
                     31 Desember 2023 adalah 99,21%.

                     Pada tanggal 18 November 2021, Bank Mandiri                  On 18 November 2021, Bank Mandiri entered into
                     mengadakan perjanjian dengan vendor untuk                    an agreement with vendors to add eMAS features
                     menambah fitur eMAS sesuai perjanjian                        according to the 2022 Application Management
                     Application Management 2022 menggunakan                      agreement using a blanket order system with a
                     system blanket order dengan nilai maksimum                   maximum contract value of 1,870 mandays. On
                     sebanyak 1.870 mandays. Pada tanggal                         31 December 2023, out of a contract value
                     31 Desember 2023 dari nilai kontrak sebesar                  amounted to USD1,626,226.15 (full amount) the
                     USD1.626.226,15 (nilai penuh), Bank telah                    Bank has recorded it as fixed assets amounted to
                     melakukan pembukuan sebagai aset tetap                       USD1,589,068.08 (full amount) with the estimated
                     sebesar USD1.589.068,08 (nilai penuh) dengan                 project completion on 31 December 2023 is
                     estimasi    penyelesaian     pada     tanggal                97.72%.
                     31 Desember 2023 adalah 97,72%.



1494 PT Bank Mandiri (Persero) Tbk                                         427
Page 988
     CORPORATE                 ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                      Financial
     GOVERNANCE                & PRACTICES                   RESPONSIBILITY                         KEUANGAN   2023
                                                                                                      Statements 2023


                                        PT BANK MANDIRI (PERSERO) Tbk.
                                   DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


63. PERJANJIAN, KOMITMEN            DAN    KONTINJENSI       63. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
    PENTING (lanjutan)                                           CONTINGENCIES (continued)

    a.   Perjanjian integrated banking system dengan            a.   Integrated banking system agreement with
         vendor (lanjutan)                                           vendor (continued)

         Pada tanggal 19 Oktober 2022, Bank Mandiri                  On 19 October 2022, Bank Mandiri entered into an
         mengadakan perjanjian dengan vendor untuk                   agreement with vendors to add eMAS features
         menambah fitur eMAS sesuai perjanjian                       according to the 2023 Application Management
         Application Management 2023 menggunakan                     agreement using a blanket order system with a
         system blanket order dengan nilai maksimum                  maximum contract value of 350 mandays. On
         sebanyak    350   mandays.   Pada    tanggal                31 December 2023, out of a contract value
         31 Desember 2023 dari nilai kontrak sebesar                 amounted to USD397,094.54 (full amount) the
         USD397.094,54 (nilai penuh), Bank telah                     Bank has recorded it as fixed assets amounted to
         melakukan pembukuan sebagai aset tetap                      USD340,965.74 (full amount) with the estimated
         sebesar USD340.965,74 (nilai penuh) dengan                  project completion on 31 December 2023 is
         estimasi    penyelesaian    pada     tanggal                85.87%.
         31 Desember 2023 adalah 85,87%.

         Perikatan antara Bank Mandiri dengan pihak                  Bank Mandiri and related parties have complied
         terkait telah mengikuti syarat dan ketentuan yang           the mutually agreed terms and conditions.
         disepakati bersama.

    b.   Perkara hukum                                          b.   Legal matters

         Bank saat ini masih menghadapi permasalahan                 Currently, the Bank has a number of outstanding
         hukum diantaranya dengan debitur dan/atau                   litigation cases, including lawsuits with debtors
         pemilik dana sebagai akibat adanya perselisihan             and/or fund owners due to disputes that had been
         perjanjian yang telah diputus oleh Pengadilan               decided by the Court where the Bank was convicted
         dimana Bank dihukum untuk membayar ganti rugi               by the Court to pay compensation amounted to
         sebesar Rp6.871. Saat ini Bank masih dalam                  Rp6,871. Currently, the Bank is still in the legal
         proses/upaya    hukum     keberatan   terhadap              process to appeal against the decision.
         putusan.

         Jumlah klaim terhadap Bank Mandiri atas                     The Bank’s total potential financial exposure
         tuntutan hukum yang belum selesai pada tanggal              arising from outstanding lawsuits as of 31
         31 Desember 2023 dan 2022 masing-masing                     December 2023 and 2022 amounted to Rp541,727
         sebesar Rp541.727 dan Rp695.233. Pada                       and Rp695,233, respectively. As of 31 December
         tanggal 31 Desember 2023 dan 2022, Bank                     2023 and 2022, the Bank has provided a provision
         Mandiri telah membentuk cadangan masing-                    amounted     to  Rp90,893     and    Rp111,298,
         masing sebesar Rp90.893 dan Rp111.298 dan                   respectively and believes that the provision is
         berpendapat bahwa cadangan yang dibentuk                    adequate.
         telah memadai.

     c. Trade Agreement dengan Asian Development                c.   Trade Agreement with Asian Development Bank
        Bank

         Pada tanggal 25 November 2009, Bank Mandiri                 On 25 November 2009, Bank Mandiri has signed a
         telah menandatangani perjanjian kerjasama                   contractual agreement with Asian Development
         dengan Asian Development Bank (“ADB”) melalui               Bank (“ADB”) through Trade Finance Facilitation
         Trade Finance Facilitation Program (“TFFP”),                Program (“TFFP”) which are Confirmation Bank
         yaitu Confirmation Bank Agreement (“CBA”) dan               Agreement (“CBA”) and Issuing Bank Agreement
         Issuing Bank Agreement (“IBA”).                             (“IBA”).

         Berdasarkan CBA dan IBA, Bank Mandiri dapat                 Based on CBA and IBA, Bank Mandiri can act
         bertindak baik sebagai confirming bank maupun               either as confirming bank or issuing bank for
         sebagai issuing bank bagi transaksi ekspor impor            customers import-export transactions with Letter of
         nasabah dengan basis Letter of Credit (“L/C”).              Credit (L/C) arrangement. As a confirming bank,
         Sebagai confirming bank, Bank Mandiri dapat                 Bank Mandiri can request a guarantee from ADB
         diberikan jaminan oleh ADB atas L/C yang                    for L/C issued by issuing bank and as issuing bank,
         diterbitkan oleh issuing bank dan sebagai issuing           therefore Bank Mandiri can obtain confirmation
         bank maka Bank Mandiri dapat diberikan                      guarantee from ADB for L/C that has been issued.
         confirmation guarantee oleh ADB atas L/C yang
         diterbitkan.




                                                              428                                    ANNUAL REPORT 2023    1495
Page 989
            MAIN                                  MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                            REPORTS                            PROFILE                          ANALYSIS


                                                             PT BANK MANDIRI (PERSERO) Tbk.
                                                        DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                                             FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in millions of Rupiah, unless otherwise stated)


            63. PERJANJIAN, KOMITMEN                     DAN     KONTINJENSI           63. SIGNIFICANT AGREEMENTS, COMMITMENTS AND
                PENTING (lanjutan)                                                         CONTINGENCIES (continued)

                 c. Trade Agreement dengan Asian Development                               c.    Trade Agreement with Asian Development Bank
                    Bank (lanjutan)                                                              (continued)

                      Skema TFFP tersebut merupakan program ADB                                  TFFP scheme is a program initiated by ADB to
                      untuk memfasilitasi transaksi perdagangan                                  facilitate the L/C based trade transactions within
                      berbasis L/C di negara-negara berkembang Asia                              Asian developing countries to increase the trade-
                      untuk mendorong tingkat pertumbuhan volume                                 volume growth. Becoming a participant in this
                      perdagangan. Dengan menjadi partisipan dalam                               program, Bank Mandiri will have an easier access
                      TFFP ini, Bank Mandiri memiliki peluang untuk                              to increase its trade volume and to open new
                      trade volume dan membuka bisnis baru                                       business opportunities especially to countries in
                      khususnya dengan bank dari negara-negara                                   ADB program.
                      yang termasuk dalam program ADB.


            64. JAMINAN PEMERINTAH TERHADAP LIABILITAS                                 64. GOVERNMENT GUARANTEE FOR PAYMENT
                PEMBAYARAN BANK UMUM                                                       OBLIGATIONS OF COMMERCIAL BANKS

                Berdasarkan Undang-undang Republik Indonesia No.                           Based on the Law of the Republic of Indonesia No. 24
                24 tahun 2004 tanggal 22 September 2004                                    year 2004 dated 22 September 2004 as amended by
                sebagaimana telah diubah oleh Peraturan Pemerintah                         Government Regulation in Lieu of Law No. 3 year 2008
                Pengganti Undang-undang Republik Indonesia No. 3                           concerning Amendments to Law No. 24 year 2004
                tahun 2008 tentang Perubahan atas Undang-undang                            regarding the Deposit Insurance Corporation. The
                No. 24 tahun 2004 tentang Lembaga Penjamin                                 Government of Republic Indonesia has established an
                Simpanan, Pemerintah telah membentuk lembaga                               independent agency called Deposit Insurance
                penjaminan independen, yaitu Lembaga Penjamin                              Corporation (“LPS”), LPS guarantee public funds,
                Simpanan (“LPS”) untuk menjamin dana masyarakat                            including funds from other banks in form of demand
                termasuk dana dari bank lain dalam bentuk giro,                            deposits, time deposits, certificates of deposit, savings
                deposito, sertifikat deposito, tabungan dan/atau                           and/or other equivalent deposits.
                bentuk lainnya yang dipersamakan dengan itu.

                Berdasarkan Salinan Peraturan Lembaga Penjamin                             Based on the LPS No. 1/PLPS/2023 dated 22 May
                Simpanan No. 1/PLPS/2023 tanggal 22 Mei 2023                               2023 regarding the Deposit Guarantee Program, the
                tentang Program Penjaminan Simpanan, besarnya                              maximum guaranteed amount for each customer in one
                saldo yang dijamin untuk setiap nasabah pada satu                          bank is Rp2,000,000,000 (full amount).
                bank adalah paling tinggi sebesar Rp2.000.000.000
                (nilai penuh).

                Suku bunga simpanan LPS pada tanggal                                       The interest rate of LPS as of 31 December 2023 and
                31 Desember 2023 dan 2022 masing-masing adalah                             2022 for deposits denominated in Rupiah is 4.25% and
                sebesar 4,25% dan 3,75% untuk simpanan dalam                               3.75%, respectively, for deposits denominated in
                mata uang Rupiah dan masing-masing sebesar                                 foreign currencies is 2.25% and 1.75%, respectively.
                2,25% dan 1,75% untuk simpanan dalam mata uang
                asing.


            65. PERUBAHAN AKTIVITAS PENDANAAN                                          65. CHANGES IN FINANCING ACTIVITIES

                Perubahan pada liabilitas yang timbul dari aktivitas                       Changes in liabilities arising from financing activities in
                pendanaan pada laporan arus kas konsolidasian                              the consolidated statement of cash flow are as follow:
                adalah sebagai berikut:
                                                                                       Non-arus kas/Non-cash flow

                                                        1 Januari                     Selisih kurs/                   31 Desember
                                                          2023/                        Differences                        2023/
                                                        1 January     Arus kas/           due to        Lainnya/      31 December
                                                           2023       Cash flow       exchange rate      Others           2023

                Efek-efek yang diterbitkan               45.774.139     4.745.379          (46.047)          44.293      50.517.764   Debt securities issued
                Pinjaman yang diterima                   62.840.118    32.233.688          366.834            4.819      95.445.459          Fund borrowing
                Pinjaman dan efek-efek                                                                                              Subordinated loans and
                 subordinasi                               633.333       (417.151)              (678)         (333)         215.171 marketable securities
                Liabilitas atas efek-efek                                                                                                     Securities sold
                 yang dijual dengan                                                                                                      under agreements
                 janji dibeli kembali                    24.325.475    11.611.121         (352.682)         746.150      36.330.064 to repurchase liabilities
                Total liabilitas dari aktivitas                                                                                        Total liabilities from
                 pendanaan                              133.573.065    48.173.037          (32.573)         794.929     182.508.458    financing activities




1496 PT Bank Mandiri (Persero) Tbk                                                       429
Page 990
        CORPORATE                     ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL                        LAPORAN
                                                                                                                          Financial
        GOVERNANCE                    & PRACTICES                       RESPONSIBILITY                                  KEUANGAN   2023
                                                                                                                          Statements 2023


                                              PT BANK MANDIRI (PERSERO) Tbk.
                                         DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                          31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in millions of Rupiah, unless otherwise stated)


65. PERUBAHAN AKTIVITAS PENDANAAN (lanjutan)                           65. CHANGES IN FINANCING ACTIVITIES (continued)

    Perubahan pada liabilitas yang timbul dari aktivitas                    Changes in liabilities arising from financing activities in
    pendanaan pada laporan arus kas konsolidasian                           the consolidated statement of cash flow are as follow
    adalah sebagai berikut (lanjutan):                                      (continued):

                                                                        Non-arus kas/Non-cash flow

                                         1 Januari                     Selisih kurs/                      31 Desember
                                           2022/                        Differences                           2022/
                                         1 January      Arus kas/          due to          Lainnya/       31 December
                                            2022        Cash flow      exchange rate        Others            2022

    Efek-efek yang diterbitkan            45.138.342     (1.481.434)       2.186.689           (69.458)     45.774.139   Debt securities issued
    Pinjaman yang diterima                51.398.940     10.833.185          605.872             2.121      62.840.118          Fund borrowing
    Pinjaman dan efek-efek                                                                                             Subordinated loans and
     subordinasi                            637.143         (12.900)              8.858           232          633.333 marketable securities
    Liabilitas atas efek-efek                                                                                                    Securities sold
     yang dijual dengan                                                                                                     under agreements
     janji dibeli kembali                  5.427.998     18.642.798             254.679               -     24.325.475 to repurchase liabilities
    Total liabilitas dari aktivitas                                                                                        Total liabilities from
     pendanaan                           102.602.423     27.981.649        3.056.098           (67.105)    133.573.065     financing activities




66. STANDAR AKUNTANSI KEUANGAN BARU/REVISI                             66. NEW   (REVISED)                FINANCIAL         ACCOUNTING
                                                                           STANDARDS

    Amendemen dan Pernyataan Standar Akuntansi                              Amendments and Improvements of Indonesian
    Keuangan (“PSAK”) baru yang telah disahkan oleh                         Financial Accounting Standards and Interpretations that
    Dewan Standar Akuntansi Keuangan (“DSAK”) -                             are issued by the Indonesian Financial Accounting
    Ikatan Akuntan Indonesia (“IAI”), tetapi belum berlaku                  Standards Board (“FASB”) - Institute of Indonesia
    efektif untuk laporan keuangan selama periode                           Chartered Accountants (“IAI”), but not yet effective for
    berjalan diungkapkan di bawah ini. Grup bermaksud                       current year financial statements are disclosed below.
    untuk menerapkan amendemen dan penyesuaian                              The Group intends to adopt these standards, if
    PSAK tersebut, jika dipandang relevan, saat telah                       applicable, when they become effective.
    menjadi efektif.

    Berlaku efektif setelah tanggal 1 Januari 2024:                         Effective on 1 January 2024:
    -   Kerangka       Standar    Pelaporan      Keuangan                   -   Indonesia      Financial   Reporting     Standard
        Indonesia (“KSPKI”) dan perubahan nomor PSAK                            Framework (“KSPKI”) and amendement to SFAS
        dan ISAK dalam Standar Akuntansi Keuangan                               and IFAS number, are effective on 1 January 2024.
        Indonesia (sebelumnya Standar Akuntansi                                 KSPKI regulate the SFAS pillars, criteria and
        Keuangan), berlaku efektif tanggal 1 Januari                            shifting between pillars that apply in Indonesia,
        2024. KSPKI mengatur pilar SAK yang berlaku di                          while amendement to SFAS and IFAS number
        Indonesia, kriteria, dan perpindahan antar pilar                        determine the number for SFAS and IFAS which
        SAK, sedangkan perubahan nomor mengatur                                 refering to IFRS Accounting Standards, local
        ketentuan penomoran PSAK dan ISAK yang                                  accounting standards, and syariah accounting
        mengacu pada IFRS Accounting Standards,                                 standards.
        lokal, dan syariah.

    -      Amendemen PSAK 201 tentang “Penyajian                            -       Amendments to SFAS No. 201 on “Presentation of
           Laporan Keuangan” terkait “Liabilitas Jangka                             Financial Statements” regarding “Non-Current
           Panjang dengan Kovenan”.             Penerapan                           Liabilites with Covenant”. The implementation
           amendemen tersebut berlaku efektif sejak                                 effective on 1 January 2024 in accordance with the
           1 Januari 2024       sesuai dengan perubahan                             amended effective date of SFAS No. 201
           tanggal berlaku efektifnya Amendemen PSAK                                Amendments on “Presentation of Financial
           201 tentang “Penyajian Laporan Keuangan”                                 Statements” for “Classification of Liabilites as
           terkait “Klasifikasi Liabilitas sebagai Jangka                           Current or Non-current” from effective on
           Pendek atau Jangka Panjang” yang sebelumnya                              1 January 2023 to 1 January 2024.
           berlaku efektif sejak 1 Januari 2023 menjadi
           1 Januari 2024.




                                                                          430                                            ANNUAL REPORT 2023         1497
Page 991
            MAIN                       MANAGEMENT                      COMPANY                      MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                         PROFILE                      ANALYSIS


                                                    PT BANK MANDIRI (PERSERO) Tbk.
                                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

            CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
            KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
            31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)      (Expressed in millions of Rupiah, unless otherwise stated)


            66. STANDAR AKUNTANSI KEUANGAN BARU/REVISI                   66. NEW   (REVISED)    FINANCIAL           ACCOUNTING
                (lanjutan)                                                   STANDARDS (continued)

                Berlaku efektif setelah tanggal 1 Januari 2024              Effective on 1 January 2024 (continued):
                (lanjutan):
                -    Amendemen PSAK 116 tentang “Sewa” terkait              -    Amendments to SFAS No. 116 on “Lease” for
                     Liabilitas Sewa dalam Jual dan Sewa-Balik.                  Lease Liabiliy in a Sale and Leaseback. This
                     Amendemen tersebut mengadopsi seluruh                       amendment adopts all the regulation in IFRS 16
                     pengaturan dalam Amendemen IFRS 16 tentang                  Amendment on “Lease” regarding “Lease Liability
                     “Lease” terkait “Lease Liability in a Sale and              in a Sale and Leaseback”. This implementation
                     Leaseback”. Penerapan amendemen ini dimulai                 starts on 1 January 2024 and early implementation
                     untuk periode tahun buku yang dimulai pada atau             is permitted.
                     setelah tanggal 1 Januari 2024 dan penerapan
                     lebih dini diperkenankan.

                Berlaku efektif setelah tanggal 1 Januari 2025:             Effective on 1 January 2025:
                -   PSAK 117 tentang “Kontrak Asuransi”, yang               -   SFAS No. 117, "Insurance Contract", adopted from
                    diadopsi dari IFRS 17, berlaku efektif 1 Januari            IFRS 17, is effective 1 January 2025, with early
                    2025, dengan penerapan dini diperkenankan                   adoption permitted for entities that have also
                    untuk entitas yang juga telah menerapkan                    applied SFAS No. 109 concerning “Financial
                    PSAK 109 tentang “Instrumen Keuangan” dan                   Instruments” and SFAS No. 115 concerning
                    PSAK 115 tentang “Pendapatan dan Kontrak                    “Revenue and Contracts with Customers”.
                    dengan Pelanggan”.

                Grup masih dalam proses melakukan evaluasi atas             The Group is still in the process of evaluating the
                dampak dari amendemen dan PSAK baru tersebut di             impact of the amendments and new SFAS mentioned
                atas terhadap laporan keuangan konsolidasian Grup.          above to the Group's consolidated financial statements.


            67. INFORMASI TAMBAHAN                                       67. SUPPLEMENTARY INFORMATION

                Informasi keuangan tambahan                                 Supplementary Financial Information

                Informasi yang disajikan pada lampiran 1 - 4                The additional information presented in appendix 1 - 4
                merupakan informasi keuangan tambahan PT Bank               is a supplementary financial information of
                Mandiri (Persero) Tbk., Entitas Induk, yang                 PT Bank Mandiri (Persero) Tbk., the Parent Entity,
                menyajikan penyertaan Bank pada Entitas Anak                which presents the Bank’s investment in its
                berdasarkan metode biaya.                                   Subsidiaries using cost method.




1498 PT Bank Mandiri (Persero) Tbk                                        431
Page 992
      CORPORATE                ESG COMMITMENTS                   SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                          Financial
      GOVERNANCE               & PRACTICES                       RESPONSIBILITY                         KEUANGAN   2023
                                                                                                          Statements 2023




                                INFORMASI KEUANGAN ENTITAS INDUK/
                      SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                            PT BANK MANDIRI (PERSERO) Tbk.
LAPORAN POSISI KEUANGAN - ENTITAS INDUK                       STATEMENTS OF FINANCIAL POSITION - PARENT ENTITY
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)
                                                     2023                  2022

ASET                                                                                                                ASSETS
Kas                                                  20.866.568            20.852.885                                   Cash
                                                                                                      Current accounts with
Giro pada Bank Indonesia                             88.445.303            86.598.997                     Bank Indonesia
                                                                                                      Current accounts with
Giro pada bank lain                                                                                          other banks
  Pihak berelasi                                        396.623                31.735                     Related parties
  Pihak ketiga                                       33.719.245            46.485.781                       Third parties
                                                     34.115.868            46.517.516
  Dikurangi: cadangan kerugian                                                                        Less: allowance for
    penurunan nilai                                        (11.459)           (11.515)               impairment losses
  Neto                                               34.104.409            46.506.001                                   Net
Penempatan pada                                                                                       Placements with Bank
  Bank Indonesia                                                                                           Indonesia and
  dan bank lain                                                                                               other banks
  Pihak berelasi                                      1.231.760             1.868.100                     Related parties
  Pihak ketiga                                       54.043.680            76.495.525                        Third parties
                                                     55.275.440            78.363.625
  Dikurangi: cadangan kerugian                                                                        Less: allowance for
    penurunan nilai                                           (870)               (3.431)            impairment losses
  Neto                                               55.274.570            78.360.194                                   Net
Efek-efek                                                                                              Marketable securities
  Pihak berelasi                                     13.513.049            17.260.960                     Related parties
  Pihak ketiga                                       29.479.847            27.610.657                       Third parties
                                                     42.992.896            44.871.617
Ditambah/(dikurangi):                                                                                            Add/(less):
  premi yang belum                                                                                          unamortised
  diamortisasi, keuntungan/                                                                       premiums, unrealised
  (kerugian) - bersih yang                                                                      gains/(losses) - net from
  belum direalisasi dari                                                                            increase/(decrease)
  kenaikan/(penurunan)                                                                                  in fair value and
  nilai wajar dan cadangan                                                                                 allowance for
  kerugian penurunan nilai                                 141.975             60.735                 impairment losses
  Neto                                               43.134.871            44.932.352                                Net
Obligasi pemerintah                                                                                      Government bonds
 Pihak berelasi                                     239.245.751           262.007.141                     Related parties
Tagihan lainnya - transaksi                                                                        Other receivables - trade
  perdagangan                                                                                                transactions
  Pihak berelasi                                      7.422.335            15.152.746                     Related parties
  Pihak ketiga                                       18.349.293            18.506.095                        Third parties
                                                     25.771.628            33.658.841
  Dikurangi: cadangan kerugian                                                                        Less: allowance for
    penurunan nilai                                   (1.448.930)          (1.560.367)               impairment losses
  Neto                                               24.322.698            32.098.474                                   Net
Tagihan atas efek-efek yang dibeli                                                               Securities purchased under
  dengan janji dijual kembali                                                                        agreements to resell
  Pihak ketiga                                       16.205.580             6.312.523                         Third parties




                                                   Lampiran/Appendix 1                                   ANNUAL REPORT 2023    1499
Page 993
            MAIN                       MANAGEMENT                         COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                 REPORTS                            PROFILE                        ANALYSIS




                                          INFORMASI KEUANGAN ENTITAS INDUK/
                                SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                        PT BANK MANDIRI (PERSERO) Tbk.

            LAPORAN POSISI KEUANGAN - ENTITAS INDUK                        STATEMENTS OF FINANCIAL POSITION - PARENT ENTITY
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)

                                                                 2023                   2022

            ASET (lanjutan)                                                                                         ASSETS (continued)

            Tagihan derivatif                                                                                      Derivative receivables
              Pihak berelasi                                         198.156               110.208                     Related parties
              Pihak ketiga                                         1.767.841             2.117.400                        Third parties

              Total                                                1.965.997             2.227.608                               Total

            Kredit yang diberikan                                                                                                 Loans
              Pihak berelasi                                    216.274.701            178.984.137                     Related parties
              Pihak ketiga                                      869.512.726            753.654.914                       Third parties

                                                              1.085.787.427            932.639.051
              Dikurangi: cadangan kerugian                                                                         Less: allowance for
                penurunan nilai                                  (42.323.522)          (54.267.417)               impairment losses

              Neto                                            1.043.463.905            878.371.634                                 Net

            Tagihan akseptasi                                                                                    Acceptance receivables
              Pihak berelasi                                      2.162.339              1.863.350                    Related parties
              Pihak ketiga                                       12.300.602              9.494.529                       Third parties

                                                                 14.462.941             11.357.879
              Dikurangi: cadangan kerugian                                                                         Less: allowance for
                penurunan nilai                                        (117.900)           (57.149)               impairment losses

              Neto                                               14.345.041             11.300.730                                 Net

            Penyertaan saham                                                                                       Investments in shares
              Pihak berelasi                                     14.994.607             15.063.607                     Related parties
              Pihak ketiga                                            5.025                  5.043                        Third parties

                                                                 14.999.632             15.068.650
              Dikurangi: cadangan kerugian                                                                         Less: allowance for
                penurunan nilai                                         (44.534)           (80.335)               impairment losses

              Neto                                               14.955.098             14.988.315                                 Net

            Biaya dibayar dimuka                                   1.424.099             1.032.325                     Prepaid expenses

            Pajak dibayar dimuka                                       239.757             979.174                         Prepaid taxes

            Aset tetap                                           69.604.803             66.392.486                          Fixed assets
              Dikurangi: akumulasi                                                                                  Less: accumulated
                penyusutan                                       (18.194.545)          (16.185.489)                    deprecitation

              Neto                                               51.410.258             50.206.997                                 Net

            Aset takberwujud                                     10.314.331              9.270.638                     Intangible assets
              Dikurangi: akumulasi                                                                                  Less: accumulated
                amortisasi                                        (6.505.920)           (5.597.283)                     amortisation

              Neto                                                 3.808.411             3.673.355                                 Net

            Aset lain-lain                                       28.305.188             20.746.169                          Other assets
              Dikurangi: penyisihan                                                                           Less: allowance for other
                lainnya                                                (541.819)          (539.972)               impairment losses

              Neto                                                27.763.369            20.206.197                                 Net

            Aset pajak tangguhan - neto                            7.874.700             9.677.161              Deferred tax assets - net

            TOTAL ASET                                        1.688.850.385          1.570.332.063                      TOTAL ASSETS




                                                               Lampiran/Appendix 1
1500 PT Bank Mandiri (Persero) Tbk
Page 994
     CORPORATE                   ESG COMMITMENTS              SOCIAL AND ENVIRONMENTAL               LAPORAN
                                                                                                       Financial
     GOVERNANCE                  & PRACTICES                  RESPONSIBILITY                         KEUANGAN   2023
                                                                                                       Statements 2023




                               INFORMASI KEUANGAN ENTITAS INDUK/
                     SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                            PT BANK MANDIRI (PERSERO) Tbk.

LAPORAN POSISI KEUANGAN - ENTITAS INDUK                     STATEMENTS OF FINANCIAL POSITION - PARENT ENTITY
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)        (Expressed in millions of Rupiah, unless otherwise stated)

                                                     2023                2022

LIABILITAS DAN EKUITAS                                                                         LIABILITIES AND EQUITY

LIABILITAS                                                                                                   LIABILITIES

                                                                                                          Obligations due
Liabilitas segera                                      4.482.945           4.054.700                       immediately

Simpanan nasabah                                                                                 Deposits from customers
  Giro                                                                                               Demand deposits
    Pihak berelasi                                  163.938.319          156.431.305                 Related parties
    Pihak ketiga                                    368.594.262          341.559.932                    Third parties

    Total                                           532.532.581          497.991.237                             Total

  Tabungan                                                                                             Saving deposits
    Pihak berelasi                                    7.513.973            6.826.334                  Related parties
    Pihak ketiga                                    446.196.403          421.540.614                    Third parties

    Total                                           453.710.376          428.366.948                             Total

  Deposito berjangka                                                                                     Time deposits
    Pihak berelasi                                   31.620.995           28.833.694                  Related parties
    Pihak ketiga                                    224.281.646          237.972.447                    Third parties

    Total                                           255.902.641          266.806.141                             Total

  Total simpanan                                                                                    Total deposits from
    nasabah                                        1.242.145.598      1.193.164.326                        customers

Simpanan dari bank lain                                                                         Deposits from other banks
  Giro dan                                                                                           Demand deposits
     tabungan                                                                                    and saving deposits
     Pihak berelasi                                      170.735             276.263                 Related parties
     Pihak ketiga                                      6.448.469           5.400.942                     Third parties

    Total                                              6.619.204           5.677.205                             Total

  Interbank call money                                                                             Interbank call money
     Pihak ketiga                                      6.966.896           4.236.101                     Third parties

  Deposito berjangka                                                                                      Time deposits
    Pihak ketiga                                       2.737.290           3.506.345                     Third parties

  Total simpanan dari                                                                                Total deposits from
    bank lain                                        16.323.390           13.419.651                       other banks

Liabilitas atas efek-efek yang                                                                        Securities sold under
  dijual dengan janji                                                                                        agreements
  dibeli kembali                                                                                 to repurchase liabilities
  Pihak ketiga                                       36.097.856           24.228.547                        Third parties




                                                   Lampiran/Appendix 1
                                                                                                       ANNUAL REPORT 2023     1501
Page 995
            MAIN                          MANAGEMENT                      COMPANY                        MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                         PROFILE                        ANALYSIS




                                             INFORMASI KEUANGAN ENTITAS INDUK/
                                   SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                        PT BANK MANDIRI (PERSERO) Tbk.
            LAPORAN POSISI KEUANGAN - ENTITAS INDUK                        STATEMENTS OF FINANCIAL POSITION - PARENT ENTITY
            31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)

                                                                 2023                   2022

            LIABILITAS DAN EKUITAS (lanjutan)                                                     LIABILITIES AND EQUITY (continued)

            LIABILITAS (lanjutan)                                                                               LIABILITIES (continued)

            Liabilitas derivatif                                                                                     Derivative payables
              Pihak berelasi                                          76.404                86.933                     Related parties
              Pihak ketiga                                         2.037.449             2.039.836                        Third parties

              Total                                                2.113.853             2.126.769                                Total

            Liabilitas akseptasi                                                                                   Acceptance payables
              Pihak berelasi                                      2.536.269              1.693.426                    Related parties
              Pihak ketiga                                       11.926.672              9.664.453                       Third parties

              Total                                              14.462.941             11.357.879                                Total

            Efek-efek yang diterbitkan                                                                             Debt securities issued
              Pihak berelasi                                      3.619.950              3.949.550                     Related parties
              Pihak ketiga                                       37.264.571             32.049.152                        Third parties

                                                                 40.884.521             35.998.702
            Dikurangi: biaya penerbitan                                                                               Less: unamortised
              yang belum diamortisasi                                  (67.622)            (63.194)                 debt issuance cost

              Neto                                               40.816.899             35.935.508                                  Net

            Estimasi kerugian atas                                                                                   Estimated losses on
              komitmen dan                                                                                           commitments and
              kontinjensi                                          1.111.730             2.044.500                       contingencies

            Beban yang masih harus dibayar                         2.395.417             4.211.850                    Accrued expenses

            Utang pajak                                            1.642.179             2.037.840                        Taxes payable

                                                                                                                       Employee benefit
            Liabilitas imbalan kerja                               8.417.409             8.977.843                          liabilities

            Provisi                                                    286.081             323.365                              Provision

            Liabilitas lain-lain                                 22.115.368             14.844.598                        Other liabilities

            Pinjaman yang diterima                                                                                     Fund borrowings
              Pihak berelasi                                        665.346                570.638                     Related parties
              Pihak ketiga                                       57.149.992             41.158.127                       Third parties

              Total                                              57.815.338             41.728.765                                Total

            Pinjaman dan efek-efek                                                                               Subordinated loans and
              subordinasi                                                                                        marketable securities
              Pihak berelasi                                            10.000              87.000                    Related parties
              Pihak ketiga                                             205.735             546.564                       Third parties

                                                                       215.735             633.564
              Dikurangi: biaya penerbitan                                                                           Less: unamortised
                yang belum diamortisasi                                   (564)                (231)                  issuance cost

              Neto                                                     215.171             633.333                                  Net

            TOTAL LIABILITAS                                  1.450.442.175          1.359.089.474                  TOTAL LIABILITIES




                                                               Lampiran/Appendix 1
1502 PT Bank Mandiri (Persero) Tbk
Page 996
     CORPORATE                 ESG COMMITMENTS                    SOCIAL AND ENVIRONMENTAL              LAPORAN
                                                                                                          Financial
     GOVERNANCE                & PRACTICES                        RESPONSIBILITY                        KEUANGAN   2023
                                                                                                          Statements 2023




                               INFORMASI KEUANGAN ENTITAS INDUK/
                     SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                            PT BANK MANDIRI (PERSERO) Tbk.
LAPORAN POSISI KEUANGAN - ENTITAS INDUK                        STATEMENTS OF FINANCIAL POSITION - PARENT ENTITY
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)           (Expressed in millions of Rupiah, unless otherwise stated)
                                                     2023                   2022

LIABILITAS DAN EKUITAS (lanjutan)                                                    LIABILITIES AND EQUITY (continued)
EKUITAS                                                                                                             EQUITY
Ekuitas yang dapat diatribusikan                                                                       Attributable equity to
  Kepada pemilik Entitas Induk                                                                           the Parent Entity
Modal saham - nilai nominal                                                                           Share capital - Rp125
  Rp125 dan Rp250 (nilai penuh)                                                                  and Rp250 (full amount)
  per lembar saham masing-masing                                                                      par value per share
  pada tanggal 31 Desember 2023                                                                 as of 31 December 2023
  dan 2022                                                                                                       and 2022
  Modal dasar - 1 lembar Saham                                                                         Authorised capital-
    Seri A Dwiwarna dan                                                                           1 Dwiwarna Series A
    127.999.999.999 lembar                                                                                    share and
    saham biasa Seri B                                                                       127,999,999,999 Series B
    pada tanggal                                                                                 common shares as of
    31 Desember 2023                                                                                31 December 2023
    dan 1 lembar saham                                                                                 and 1 Dwiwarna
    Seri A Dwiwarna dan                                                                             Series A share and
    63.999.999.999 lembar                                                                     63,999,999,999 Series B
    saham biasa Seri B pada                                                                       common share as of
    tanggal 31 Desember 2022                                                                        31 December 2022
  Modal ditempatkan dan disetor -                                                          Issued and fully paid-in capital
    1 lembar Saham Seri A                                                                         1 Dwiwarna Series A
    Dwiwarna dan 93.333.333.331                                                                               share and
    lembar Saham Biasa                                                                         93,333,333,331Series B
    Seri B pada tanggal                                                                          common shares as of
    31 Desember 2023                                                                                31 December 2023
    dan 1 lembar saham                                                                                 and 1 Dwiwarna
    Seri A Dwiwarna dan                                                                             Series A share and
    46.666.666.665 lembar                                                                     46,666,666,665 Series B
    saham biasa Seri B pada                                                                      common shares as of
    tanggal 31 Desember 2022                         11.666.667             11.666.667              31 December 2022
Tambahan modal disetor/                                                                             Additional paid-in capital/
  agio saham                                         18.941.550             18.941.550                                  agio
Selisih kurs karena                                                                                  Differences arising from
  penjabaran laporan                                                                                          translation of
  keuangan dalam                                                                                    financial statements in
  mata uang asing                                          (434.437)          (361.753)                  foreign currencies
Kerugian neto yang belum
  direalisasi dari penurunan                                                                         Net unrealised loss from
  nilai wajar aset keuangan                                                                          decrease in fair value
  dalam kelompok nilai wajar                                                                             of financial assets
  melalui penghasilan                                                                                          through other
  komprehensif lain setelah                                                                         comprehensive income
  dikurangi pajak tangguhan                           (1.926.827)           (2.737.402)                - net of deferred tax
Selisih bersih revaluasi                                                                              Net differences in fixed
  aset tetap                                         34.487.954             34.487.954                  assets revaluation
Keuntungan neto aktuarial                                                                             Net actuarial gain from
  program imbalan pasti                                                                                   defined benefits
  setelah dikurangi                                                                                       program - net of
  pajak tangguhan                                      1.512.069             1.478.835                        deferred tax
Penghasilan komprehensif                                                                               Other comprehensive
  lainnya                                                   85.052              85.052                           income
Saldo laba (saldo rugi sebesar                                                               Retained earnings (accumulated
  Rp162.874.901 telah                                                                             losses of Rp162,874,901
  dieliminasi dengan tambahan                                                                      were eliminated against
  modal disetor/agio saham                                                                        additional paid-in capital/
  pada saat kuasi -                                                                               agio as a result of quasi-
  reorganisasi pada                                                                                           reorganisation
  tanggal 30 April 2003)                                                                                  on 30 April 2003)
    Sudah ditentukan penggunaannya                    5.380.268              5.380.268                       Appropriated
    Belum ditentukan penggunaannya                  168.695.914            142.301.418                    Unappropriated
  Total saldo laba                                  174.076.182            147.681.686              Total retained earnings
TOTAL EKUITAS                                       238.408.210            211.242.589                       TOTAL EQUITY
TOTAL LIABILITAS DAN                                                                              TOTAL LIABILITIES AND
  EKUITAS                                         1.688.850.385          1.570.332.063                         EQUITY



                                                   Lampiran/Appendix 1
                                                                                                          ANNUAL REPORT 2023      1503
Page 997
            MAIN                          MANAGEMENT                      COMPANY                           MANAGEMENT DISCUSSION &
            HIGHLIGHTS                    REPORTS                         PROFILE                           ANALYSIS



                                         INFORMASI KEUANGAN ENTITAS INDUK/
                               SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                        PT BANK MANDIRI (PERSERO) Tbk.

            LAPORAN LABA RUGI DAN PENGHASILAN                                                  STATEMENTS OF PROFIT OR LOSS AND
            KOMPREHENSIF LAIN - ENTITAS INDUK                                     OTHER COMPREHENSIVE INCOME - PARENT ENTITY
            UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                                 FOR THE YEARS ENDED
            TANGGAL 31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)              (Expressed in millions of Rupiah, unless otherwise stated)

                                                                 2023                     2022

            PENDAPATAN DAN BEBAN                                                                                  INCOME AND EXPENSE
             OPERASIONAL                                                                                           FROM OPERATIONS
            Pendapatan bunga                                      97.831.188              82.402.327                         Interest income
            Beban bunga                                          (26.604.466)            (17.296.790)                      Interest expense

            PENDAPATAN BUNGA -                                                                                              NET INTEREST
             NETO                                                71.226.722               65.105.537                           INCOME
            Pendapatan operasional lainnya                                                                           Other operating income
              Provisi dan komisi                                 15.706.065               14.097.870              Fees and commissions
              Pendapatan dari kelompok                                                                             Income from fair value
                nilai wajar melalui                                                                               through profit or loss
                laba rugi - neto                                  2.790.171                3.152.807                 classification - net
              Lain-lain                                          13.801.068                8.927.628                                Others

            Total pendapatan                                                                                           Total other operating
              operasional lainnya                                32.297.304               26.178.305                              income
            Pembentukan cadangan kerugian                                                                          Allowance for impairment
              penurunan nilai                                     (6.288.672)            (10.533.173)                              losses
            Pembalikan penyisihan                                                                                  Reversal of allowance for
              estimasi kerugian                                                                                         estimated losses
              atas komitmen dan                                                                                        commitments and
              kontinjensi                                              921.730               266.506                        contingencies
                                                                                                                        Allowance for other
            Pembentukan penyisihan                                                                                    impairment losses
              lainnya dan kerugian                                                                                       and operational
              risiko operasional - neto                                (22.103)             (267.870)                    risk losses - net
            Keuntungan dari penjualan                                                                                       Gain on sale of
              efek-efek dan obligasi                                                                            marketable securities and
              pemerintah                                                47.701               696.462                  government bonds
            Beban operasional lainnya                                                                            Other operating expenses
                                                                                                                  Salaries and employee
              Beban gaji dan tunjangan                           (16.058.990)            (16.047.712)               benefits expenses
              Beban umum dan                                                                                                 General and
                administrasi                                     (14.503.827)            (14.030.660)            administrative expenses
              Lain-lain                                           (4.930.750)             (4.702.056)                             Others
            Total beban operasional                                                                                    Total other operating
              lainnya                                            (35.493.567)            (34.780.428)                           expenses
                                                                                                                           INCOME FROM
            LABA OPERASIONAL                                     62.689.115               46.665.339                        OPERATION
            Pendapatan/(beban) bukan                                                                                 Non operating income/
              operasional - neto                                        98.094               113.094                     (expense) - net
            LABA SEBELUM BEBAN                                                                                           INCOME BEFORE
              PAJAK                                              62.787.209               46.778.433                      TAX EXPENSE
            Beban pajak                                                                                                        Tax expense
              Kini                                               (10.015.624)             (9.329.662)                            Current
              Tangguhan                                           (1.674.707)                243.655                            Deferred

            Total beban pajak - neto                             (11.690.331)             (9.086.007)                Total tax expense - net
            LABA TAHUN                                                                                                     NET INCOME
              BERJALAN                                           51.096.878               37.692.426                    FOR THE YEAR




1504 PT Bank Mandiri (Persero) Tbk                            Lampiran/Appendix 2
Page 998
        CORPORATE                         ESG COMMITMENTS                           SOCIAL AND ENVIRONMENTAL                            LAPORAN
                                                                                                                                          Financial
        GOVERNANCE                        & PRACTICES                               RESPONSIBILITY                                      KEUANGAN   2023
                                                                                                                                          Statements 2023


                                    INFORMASI KEUANGAN ENTITAS INDUK/
                          SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                          PT BANK MANDIRI (PERSERO) Tbk.

LAPORAN LABA RUGI DAN PENGHASILAN                                                                     STATEMENTS OF PROFIT OR LOSS AND
KOMPREHENSIF LAIN - ENTITAS INDUK                                                        OTHER COMPREHENSIVE INCOME - PARENT ENTITY
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                                                    FOR THE YEARS ENDED
TANGGAL 31 DESEMBER 2023 DAN 2022                                                                                  31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                 (Expressed in millions of Rupiah, unless otherwise stated)

                                                                      2023                       2022

PENGHASILAN KOMPREHENSIF                                                                                                    OTHER COMPREHENSIVE
 LAIN                                                                                                                                  INCOME

Pos-pos yang tidak akan                                                                                                             Items that will not be
  direklasifikasi                                                                                                                        reclassified to
  ke laba rugi                                                                                                                             profit or loss
  Keuntungan revaluasi                                                                                                              Gain on fixed assets
    aset tetap                                                                       -            4.574.057                                revaluation
                                                                                                                                      Actuarial gain from
     Keuntungan aktuarial                                                                                                             defined benefits
       program imbalan pasti                                                41.030                  287.101                                   program
     Pajak penghasilan                                                                                                             Income tax related to
       terkait pos-pos yang tidak                                                                                                items that will not be
       akan direklasifikasi                                                                                                             reclassified to
       ke laba rugi                                                             (7.796)              (54.550)                             profit or loss

                                                                            33.234                4.806.608
Pos-pos yang akan                                                                                                                       Items that will be
  direklasifikasi                                                                                                                         reclassified to
  ke laba rugi                                                                                                                              profit or loss
  Penyesuaian akibat                                                                                                            Difference arising from
    penjabaran laporan                                                                                                        translation of financial
    keuangan dalam                                                                                                             statements in foreign
    mata uang asing                                                        (72.683)                  (68.731)                                currencies
  Perubahan nilai wajar aset                                                                                                   Changes in fair value of
    keuangan dalam                                                                                                                    financial assets
    kelompok nilai wajar                                                                                                      classified as fair value
    melalui penghasilan                                                                                                                  through other
    komprehensif lain                                                      930.532               (5.307.062)                 comprehensive income
  Pajak penghasilan terkait                                                                                                      Income tax related to
    pos-pos yang akan                                                                                                               items that will be
    direklasifikasi                                                                                                                     reclassified to
    ke laba rugi                                                          (119.958)               1.040.800                                profit or loss

                                                                           737.891               (4.334.993)

Penghasilan komprehensif lain                                                                                                       Other comprehensive
  tahun berjalan -                                                                                                                 income for the year
  setelah pajak penghasilan                                                771.125                  471.615                         - net of income tax

TOTAL PENGHASILAN                                                                                                            TOTAL COMPREHENSIVE
 KOMPREHENSIF                                                                                                                            INCOME
 TAHUN BERJALAN                                                        51.868.003                38.164.041                        FOR THE YEAR


LABA PER SAHAM                                                                                                                  EARNINGS PER SHARE
  Dasar dan dilusian (dalam                                                                                                      Basic and diluted (full
    Rupiah penuh)                                                           547,47                   403,98                       amount of Rupiah)
*)    Laba per saham pada tahun yang berakhir pada tanggal 31 Desember 2022                              Earnings per share for the year ended 31 December 2022 *)
      disajikan kembali sehubungan dengan pemecahan nilai saham (Catatan 2aj)                                     is restated in relation to the stock split (Note 2aj)




                                                                   Lampiran/Appendix 2                                                    ANNUAL REPORT 2023              1505
Page 999
                                                                                            INFORMASI KEUANGAN ENTITAS INDUK/
                                                                                  SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY
                                                                                                                                                                                                                                                                                                   MAIN




                                                                                                                   PT BANK MANDIRI (PERSERO) Tbk.
                                                                                                                                                                                                                                                                                                   HIGHLIGHTS




                                                                                                              DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES

     LAPORAN PERUBAHAN EKUITAS - ENTITAS INDUK                                                                                                                                                                      STATEMENTS OF CHANGES IN EQUITY - PARENT ENTITY
     UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL                                                                                                                                                                                                     FOR THE YEARS ENDED




1506 PT Bank Mandiri (Persero) Tbk
     31 DESEMBER 2023 DAN 2022                                                                                                                                                                                                                   31 DECEMBER 2023 AND 2022
     (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                                          (Expressed in millions of Rupiah, unless otherwise stated)
                                                                                                                                                       2023
                                                                                                     Keuntungan/
                                                                                                        (kerugian)
                                                                                                           neto
                                                                                                                                                                                                                                                                                                   REPORTS




                                                                                                      yang belum
                                                                                                        direalisasi
                                                                                                     dari kenaikan/
                                                                                                      (penurunan)
                                                                                                                                                                                                                                                                                                   MANAGEMENT




                                                                                                        nilai wajar
                                                                                                    aset keuangan
                                                                                                   dalam kelompok
                                                                                                        nilai wajar
                                                                                                          melalui
                                                                                                      penghasilan
                                                                                                     komprehensif
                                                                                                       lain setelah                                Keuntungan
                                                                                                        dikurangi                                       neto
                                                                                  Selisih kurs             pajak                                      aktuarial
                                                                                     karena            tangguhan/                                     program
                                                                                  penjabaran        Net unrealised                                    imbalan
                                                                                    laporan         gain/(loss) from                                    pasti                                         Saldo laba/Retained earnings
                                                                                   keuangan              increase/                                     setelah
                                                                                  dalam mata       (decrease) in fair             Selisih            dikurangi
                                         Modal             Tambahan               uang asing/      value of financial              bersih               pajak           Penghasilan
                                     ditempatkan         modal disetor/       Difference arising    assets through               revaluasi          tangguhan/         komprehensif
                                     dan disetor/         agio saham/          from translation            other                aset tetap/     Net actuarial gain        lainnya/            Sudah                Belum
                                      Issued and           Additional             of financial      comprehensive           Net difference in      from defined            Other            ditentukan           ditentukan                            Total
                                     fully paid-in          paid-in              statements in      income - net of           fixed assets      benefits program -    comprehensive       penggunaannya/       penggunaannya/                         ekuitas/
                                        capital           capital/agio        foreign currencies      deferred tax             revaluation      net of deferred tax       income           Appropriated        Unappropriated          Total        Total equity
                                                                                                                                                                                                                                                                                                   PROFILE




     Saldo pada tanggal                                                                                                                                                                                                                                                         Balance as of
                                                                                                                                                                                                                                                                                                   COMPANY




        1 Januari 2023                  11.666.667           18.941.550               (361.753)          (2.737.402)            34.487.954             1.478.835             85.052            5.380.268          142.301.418        147.681.686     211.242.589            1 January 2023

     Pembayaran dividen dari laba                                                                                                                                                                                                                                        Dividend payment from
          bersih tahun 2022                          -                    -                    -                        -                   -                     -                   -                    -      (24.702.382)       (24.702.382)    (24.702.382)           2022 net income

     Laba tahun berjalan                             -                    -                    -                        -                   -                     -                   -                    -       51.096.878         51.096.878      51.096.878         Net income for the year

     Penghasilan komprehensif lain                                                                                                                                                                                                                                  Other comprehensive income
       tahun berjalan                                -                    -           (72.684)              810.575                         -              33.234                     -                    -                    -              -          771.125                for the year

     Saldo pada tanggal                                                                                                                                                                                                                                                         Balance as of
        31 Desember 2023                11.666.667           18.941.550              (434.437)          (1.926.827)             34.487.954             1.512.069             85.052            5.380.268          168.695.914        174.076.182     238.408.210         31 December 2023
                                                                                                                                                                                                                                                                                                   ANALYSIS
                                                                                                                                                                                                                                                                                                   MANAGEMENT DISCUSSION &




                                                                                                                                            Lampiran/Appendix 3
Page 1000
                                                                                                             INFORMASI KEUANGAN ENTITAS INDUK/
                                                                                                   SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                                                                                                       PT BANK MANDIRI (PERSERO) Tbk.
                                                                                                                                  DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES
                                                                                                                                                                                                                                                                                                                                           CORPORATE
                                                                                                                                                                                                                                                                                                                                           GOVERNANCE




                     LAPORAN PERUBAHAN EKUITAS - ENTITAS INDUK                                                                                                                                                                               STATEMENTS OF CHANGES IN EQUITY - PARENT ENTITY
                     UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL                                                                                                                                                                                                              FOR THE YEARS ENDED
                     31 DESEMBER 2023 DAN 2022                                                                                                                                                                                                                            31 DECEMBER 2023 AND 2022
                     (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                                                   (Expressed in millions of Rupiah, unless otherwise stated)

                                                                                                                                                                                  2022
                                                                                                                                               Kerugian
                                                                                                                                                 neto
                                                                                                                                             yang belum
                                                                                                                                              direalisasi
                                                                                                                                          dari penurunan
                                                                                                                                              nilai wajar
                                                                                                                                           aset keuangan
                                                                                                                                         dalam kelompok
                                                                                                                                                                                                                                                                                                                                           & PRACTICES




                                                                                                                                              nilai wajar
                                                                                                                                                melalui
                                                                                                                                            penghasilan                                      Keuntungan
                                                                                                                                           komprehensif                                           neto
                                                                                                                                                                                                                                                                                                                                           ESG COMMITMENTS




                                                                                                                         Selisih kurs        lain setelah                                       aktuarial
                                                                                                Modal saham                 karena            dikurangi                                         program
                                                                                                    yang                 penjabaran              pajak                                          imbalan
                                                                                                  diperoleh                laporan           tangguhan/                                           pasti
                                                                                                 dan dimiliki             keuangan      Net unrealised loss                                      setelah
                                                                                                   kembali               dalam mata      from decrease in               Selisih                dikurangi
                                                         Modal             Tambahan                (saham                uang asing/        fair value of                bersih                   pajak           Penghasilan                   Saldo laba/Retained earnings
                                                     ditempatkan         modal disetor/           treasuri)/         Difference arising   financial assets             revaluasi              tangguhan/         komprehensif
                                                     dan disetor/         agio saham/           Share capital         from translation     through other              aset tetap/         Net actuarial gain        lainnya/            Sudah                Belum
                                                      Issued and           Additional           acquired and             of financial     comprehensive           Net difference in          from defined            Other            ditentukan           ditentukan                            Total
                                                     fully paid-in          paid-in             repossessed             statements in     income - net of           fixed assets          benefits program -    comprehensive       penggunaannya/       penggunaannya/                         ekuitas/
                                                        capital           capital/agio        (treasury stock)       foreign currencies     deferred tax             revaluation          net of deferred tax       income           Appropriated        Unappropriated         Total         Total equity


                     Saldo pada tanggal                                                                                                                                                                                                                                                                                  Balance as of
                        1 Januari 2022                  11.666.667           18.941.550             (150.895)                (293.022)          1.528.860             29.913.897                 1.246.284             85.052            5.380.268          121.425.885        126.806.153     189.744.546           1 January 2022


                     Pembayaran dividen dari laba                                                                                                                                                                                                                                                                 Dividend payment from
                       bersih tahun 2022                             -                    -                      -                   -                        -                       -                     -                   -                    -      (16.816.893)       (16.816.893)   (16.816.893)           2022 net income
                                                                                                                                                                                                                                                                                                                                           RESPONSIBILITY




                     Saham treasuri                                  -                    -           150.895                            -                    -                       -                     -                   -                    -                    -              -          150.895              Treasury stock

                     Laba tahun berjalan                             -                    -                      -                   -                        -                       -                     -                   -                    -       37.692.426         37.692.426      37.692.426       Net income for the year

                     Penghasilan komprehensif lain                                                                                                                                                                                                                                                          Other comprehensive income
                       tahun berjalan                                -                    -                      -            (68.731)         (4.266.262)             4.574.057                   232.551                      -                    -                    -              -          471.615              for the year
                                                                                                                                                                                                                                                                                                                                           SOCIAL AND ENVIRONMENTAL




                     Saldo pada tanggal                                                                                                                                                                                                                                                                                  Balance as of
                        31 Desember 2022                11.666.667           18.941.550                          -           (361.753)         (2.737.402)            34.487.954                 1.478.835             85.052            5.380.268          142.301.418        147.681.686     211.242.589        31 December 2022
                                                                                                                                                                                                                                                                                                                                           LAPORAN
                                                                                                                                                                                                                                                                                                                                           KEUANGAN
                                                                                                                                                                                                                                                                                                                                             Financial
                                                                                                                                                                                                                                                                                                                                             Statements
                                                                                                                                                                                                                                                                                                                                                      2023
                                                                                                                                                                                                                                                                                                                                                        2023




ANNUAL REPORT 2023
                                                                                                                                                          Lampiran/Appendix 3




1507
Page 1001
            MAIN                         MANAGEMENT                      COMPANY                         MANAGEMENT DISCUSSION &
            HIGHLIGHTS                   REPORTS                         PROFILE                         ANALYSIS




                                          INFORMASI KEUANGAN ENTITAS INDUK/
                                SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                        PT BANK MANDIRI (PERSERO) Tbk.
            LAPORAN ARUS KAS - ENTITAS INDUK                                       STATEMENTS OF CASH FLOWS - PARENT ENTITY
            UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                               FOR THE YEARS ENDED
            TANGGAL 31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)

                                                                 2023                   2022

            ARUS KAS DARI                                                                                          CASH FLOWS FROM
             AKTIVITAS                                                                                                  OPERATING
             OPERASIONAL                                                                                                 ACTIVITIES

            Penerimaan pendapatan                                                                                  Receipts from interest
              bunga                                              94.123.502             77.592.699                             income
            Penerimaan pendapatan                                                                                Receipts from provision,
              provisi, komisi                                                                                         commission and
              dan premi                                          15.706.065             14.097.870                   premium income
            Pembayaran beban                                                                                        Payments of interest
              bunga                                             (25.567.859)           (17.005.710)                           expense
            Penerimaan dari
              penjualan obligasi                                                                                     Receipts from the sale
              pemerintah - diukur                                                                                of government bonds -
              pada nilai wajar                                                                                   measured at fair value
              melalui laba rugi                                 198.395.896            278.867.971                  through profit or loss
            Pembelian obligasi                                                                                                Acquisition of
              pemerintah – diukur                                                                                    government bonds -
              pada nilai wajar                                                                                    measured at fair value
              melalui laba rugi                                (200.469.433)          (277.071.573)                 through profit or loss
            Pendapatan/(beban) dari                                                                                Income/(expense) from
              kelompok nilai wajar                                                                              fair value through profit
              melalui laba rugi - neto                             3.559.790             (1.408.422)          or loss classification - net
            Pendapatan operasional                                                                                         Other operating
              lainnya - lain-lain                                  3.595.327             2.592.325                       income - others
            Beban operasional                                                                                              Other operating
              lainnya - lain-lain                                 (7.040.948)            (5.567.680)                   expenses - others
                                                                                                                    Salaries and employee
            Beban gaji dan tunjangan                             (16.578.394)          (14.903.220)                    benefits expenses
            Beban umum dan                                                                                     General and administrative
              administrasi                                       (11.369.509)          (10.818.734)                             expenses
            Pendapatan bukan                                                                                                 Non-operating
              operasional - neto                                       95.115              110.519                          income - net
            Pembayaran pajak                                                                                          Payment of corporate
              penghasilan badan                                  (10.680.754)            (9.221.948)                          income tax

            Arus kas dari aktivitas                                                                            Cash flows from operating
              operasional sebelum                                                                                      activities before
              perubahan aset dan                                                                                 changes in operating
              liabilitas operasional                             43.768.798             37.264.097                assets and liabilities

            Penurunan/(kenaikan) atas                                                                               Decrease/(increase) in
              aset operasional:                                                                                        operating assets:
              Penempatan pada                                                                                           Placements with
                Bank Indonesia                                                                                         Bank Indonesia
                dan bank lain                                      1.054.578             1.154.996                    and other banks
              Efek-efek - diukur pada                                                                             Marketable securities
                nilai wajar melalui                                                                                 - measured at fair
                laba rugi                                         (5.289.249)            (2.440.006)      value through profit or loss
              Tagihan lainnya - transaksi                                                                              Other receivables
                perdagangan                                       7.887.213             (4.441.826)               - trade transactions
              Kredit yang diberikan                            (171.011.962)          (122.237.237)                                Loans
              Tagihan atas efek-efek                                                                               Securities purchased
                yang dibeli dengan                                                                                 under agreements
                janji dijual kembali                              (9.893.057)           15.824.166                            to resell




                                                               Lampiran/Appendix 4
1508 PT Bank Mandiri (Persero) Tbk
Page 1002
     CORPORATE                   ESG COMMITMENTS               SOCIAL AND ENVIRONMENTAL                   LAPORAN
                                                                                                            Financial
     GOVERNANCE                  & PRACTICES                   RESPONSIBILITY                             KEUANGAN   2023
                                                                                                            Statements 2023


                               INFORMASI KEUANGAN ENTITAS INDUK/
                     SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                            PT BANK MANDIRI (PERSERO) Tbk.

LAPORAN ARUS KAS - ENTITAS INDUK                                       STATEMENTS OF CASH FLOWS - PARENT ENTITY
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                               FOR THE YEARS ENDED
TANGGAL 31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)            (Expressed in millions of Rupiah, unless otherwise stated)

                                                     2023                   2022

ARUS KAS DARI                                                                                         CASH FLOWS FROM
 AKTIVITAS                                                                                                  OPERATING
 OPERASIONAL (lanjutan)                                                                            ACTIVITIES (continued)

Penurunan/(kenaikan) atas                                                                              Decrease/(increase) in
  aset operasional (lanjutan):                                                                operating assets (continued):
  Pajak dibayar dimuka                                   739.417               909.344                       Prepaid taxes
  Biaya dibayar dimuka                                  (391.774)             (223.493)                  Prepaid expenses
  Aset lain-lain                                      (6.939.338)             (998.419)                       Other assets
Penerimaan atas aset
  keuangan yang telah                                                                                   Recovery of written-off
  dihapusbukukan                                     10.134.741              6.335.303                      financial assets

Kenaikan/(penurunan)                                                                                   Increase/(decrease) in
  atas liabilitas operasional:                                                                          operating liabilities:
  Bank konvensional                                                                                   Conventional banking
    Giro                                              35.334.666           119.657.314                  Demand deposits
    Tabungan                                          25.492.105            47.556.948                   Saving deposits
    Deposito berjangka                               (11.672.555)            1.438.914                     Time deposits
    Interbank call money                               2.730.795              (673.784)             Interbank call money
    Liabilitas segera                                    428.245            (1.325.774)     Obligations due immediately
    Utang pajak lainnya                                  269.469                38.264               Other taxes payable
    Liabilitas lain-lain                               9.843.763             6.169.254                    Other liabilities

Kas neto yang (digunakan untuk)/                                                                         Net cash (used in)/
  diperoleh dari                                                                                              provided by
  aktivitas operasional                             (67.514.145)           104.008.061                 operating activities


ARUS KAS DARI                                                                                            CASH FLOWS FROM
  AKTIVITAS INVESTASI                                                                              INVESTING ACTIVITIES
Penurunan/(kenaikan)                                                                                       Decrease/(increase)
  efek-efek -                                                                                                   in marketable
  selain diukur                                                                                             securities - other
  pada nilai wajar                                                                               than measured at fair value
  melalui laba rugi                                    6.950.959            (6.520.013)                 through profit or loss
Penurunan/(kenaikan)                                                                                    Decrease/(increase) in
  obligasi pemerintah - selain                                                                           government bonds -
  diukur pada nilai wajar                                                                            other than measured at
  melalui laba rugi                                  25.790.497            (32.591.302)      fair value through profit or loss
Penerimaan dari penjualan                                                                                Proceeds from sale of
  aset tetap                                               2.981                 2.483                            fixed assets
Pembelian aset tetap                                  (1.961.615)           (1.885.056)              Acquisition of fixed assets
Pembelian aset                                                                                                     Acquisition of
  takberwujud                                         (1.043.693)             (831.403)                     intangible assets
Perolehan aset                                                                                            Acquisition of right of
  hak guna                                            (1.295.978)           (1.775.410)                             use assets
Setoran modal ke Entitas Anak                                  -            (4.590.889)          Paid-in capital to Subsidiaries
Divestasi penyertaan di Entitas Asosiasi                 140.000                     -          Divestment in Associate Entity

Kas neto yang diperoleh dari/                                                                          Net cash provided by/
  (digunakan untuk)                                                                                               (used in)
  aktivitas investasi                                28.583.151            (48.191.590)                 investing activities




                                                   Lampiran/Appendix 4
                                                                                                           ANNUAL REPORT 2023       1509
Page 1003
            MAIN                        MANAGEMENT                         COMPANY                          MANAGEMENT DISCUSSION &
            HIGHLIGHTS                  REPORTS                            PROFILE                          ANALYSIS



                                         INFORMASI KEUANGAN ENTITAS INDUK/
                               SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                                        PT BANK MANDIRI (PERSERO) Tbk.

            LAPORAN ARUS KAS - ENTITAS INDUK                                          STATEMENTS OF CASH FLOWS - PARENT ENTITY
            UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                                  FOR THE YEARS ENDED
            TANGGAL 31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in millions of Rupiah, unless otherwise stated)

                                                                 2023                      2022

            ARUS KAS DARI                                                                                             CASH FLOWS FROM
              AKTIVITAS                                                                                                      FINANCING
              PENDANAAN                                                                                                      ACTIVITIES
            Penerimaan dari efek-efek                                                                                    Receipts from debt
              yang diterbitkan                                     9.362.750                         -                   securities issued
            Pembayaran atas efek-efek                                                                                     Payments of debt
              yang diterbitkan                                    (4.480.000)              (1.000.101)                   securities issued
            Penerimaan dari pinjaman                                                                                     Receipts from fund
              yang diterima                                      30.977.214                10.116.382                          borrowings
            Pembayaran atas pinjaman                                                                                      Payments of fund
              yang diterima                                      (15.264.106)              (9.705.029)                         borrowings
            Penerimaan dari                                                                                                   Receipts from
              pinjaman dan                                                                                             subordinated loans
              efek-efek                                                                                                   and marketable
              subordinasi                                              100.000                       -                           securities
            Pembayaran atas                                                                                                     Payments of
              pinjaman dan                                                                                             subordinated loans
              efek-efek                                                                                                   and marketable
              subordinasi                                              (517.151)              (12.900)                           securities
            Kenaikan liabilitas                                                                                                   Increase in
              atas efek-efek yang                                                                                          securities sold
              dijual dengan janji                                                                                    under agreements to
              dibeli kembali                                      11.474.780               18.630.298                repurchase liabilities
            Pembayaran dividen                                   (24.702.382)             (16.816.893)               Payments of dividends

            Kas neto yang diperoleh dari                                                                              Net cash provided by
              aktivitas pendanaan                                  6.951.105                1.211.757                 financing activities


            (PENURUNAN)/KENAIKAN NETO                                                                     NET (DECREASE)/INCREASE IN
              KAS DAN                                                                                                     CASH AND
              SETARA KAS                                         (31.979.889)              57.028.228            CASH EQUIVALENTS

            DAMPAK PERUBAHAN                                                                                     EFFECTS OF EXCHANGE
             SELISIH KURS                                                                                          RATE CHANGES ON
             TERHADAP                                                                                                     CASH AND
             KAS DAN SETARA KAS                                        (818.781)            9.413.094             CASH EQUIVALENTS

                                                                                                                       CASH AND CASH
            KAS DAN SETARA KAS PADA                                                                              EQUIVALENTS AT THE
             AWAL TAHUN                                         229.632.271               163.190.949             BEGINNING OF YEAR


                                                                                                                       CASH AND CASH
            KAS DAN SETARA KAS PADA                                                                              EQUIVALENTS AT THE
             AKHIR TAHUN                                        196.833.601               229.632.271                   END OF YEAR




                                                               Lampiran/Appendix 4
1510 PT Bank Mandiri (Persero) Tbk
Page 1004
     CORPORATE                 ESG COMMITMENTS                SOCIAL AND ENVIRONMENTAL                 LAPORAN
                                                                                                         Financial
     GOVERNANCE                & PRACTICES                    RESPONSIBILITY                           KEUANGAN   2023
                                                                                                         Statements 2023


                               INFORMASI KEUANGAN ENTITAS INDUK/
                     SUPPLEMENTARY FINANCIAL INFORMATION OF THE PARENT ENTITY

                                            PT BANK MANDIRI (PERSERO) Tbk.

LAPORAN ARUS KAS - ENTITAS INDUK                                     STATEMENTS OF CASH FLOWS - PARENT ENTITY
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA                                                             FOR THE YEARS ENDED
TANGGAL 31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)          (Expressed in millions of Rupiah, unless otherwise stated)

                                                     2023                 2022

Kas dan setara kas                                                                              Cash and cash equivalents
  pada akhir tahun                                                                                    at the end of year
  terdiri dari:                                                                                              consists of:

Kas                                                  20.866.568           20.852.885                                    Cash
Giro pada                                                                                            Current accounts with
  Bank Indonesia                                     88.445.303           86.598.997                     Bank Indonesia
Giro pada                                                                                            Current accounts with
  bank lain                                          34.115.868           46.517.516                          other banks
Investasi jangka pendek                                                                                    Liquid short-term
  likuid dengan                                                                                         investments with
  jangka waktu jatuh                                                                                      a period of time
  tempo tiga bulan                                                                                       maturity of three
  atau kurang sejak                                                                                  months or less from
  tanggal perolehan                                  53.405.862           75.662.873               the date of acquisition

Total kas dan                                                                                              Total cash and
  setara kas                                        196.833.601          229.632.271                   cash equivalents




                                                   Lampiran/Appendix 4
                                                                                                        ANNUAL REPORT 2023     1511
Page 1005

          

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Names mentioned 156 people and organisations named in the text · linked when the evidence is strong

linked org Bank Mandiri (Persero) Tbk. p.1 ×628
linked org PT Bank Syariah Indonesia p.21 ×51
linked org PT Mandiri Sekuritas p.21 ×5
linked org PT Mandiri Tunas Finance p.21 ×5
linked person Sigit Prastowo · Director of Finance and Strategy p.26 ×12
linked person Muhamad Chatib Basri · President Commissioner/Independent p.44 ×18
linked person Darmawan Junaidi · President Director p.44 ×14
linked person Alexandra Askandar · Vice President Director p.44 ×14
linked person Ahmad Siddik Badruddin · Director of Risk Management p.44 ×11
linked person Agus Dwi Handaya · Director of Compliance and HR p.44 ×14
linked person Aquarius Rudianto · Director of Network and Retail Banking p.44 ×11
linked person Toni E. B. Subari · Director of Operation p.44 ×6
linked person Susana Indah K. Indriati · Director of Corporate Banking p.44 ×9
linked person Rohan Hafas · Director of Institutional Relations p.44 ×11
linked person Timothy Utama p.44 ×10
linked person Andrinof A. Chaniago · Vice President Commissioner/Independent p.44 ×19
linked person Muliadi Rahardja · Independent Commissioner p.44 ×22
linked person Loeke Larasati Agoestina · Independent Commissioner p.44 ×12
linked person Rionald Silaban · Commissioner p.45 ×22
linked person Nawal Nely · Commissioner p.45 ×26
linked person Faried Utomo · Commissioner p.45 ×23
linked person Muhammad Yusuf Ateh · Commissioner p.45 ×18
linked person Eka Fitria · Director of Treasury & International Banking p.50 ×8
linked person Heru Kristiyana · Independent Commissioner p.50 ×20
linked person Zainudin Amali · Independent Commissioner p.50 ×17
linked person Toni Eko Boy Subari p.50 ×5
linked org XL Axiata Tbk · Commissioner p.68 ×5
linked org Sarana Meditama Metropolitan Tbk · Commissioner p.68 ×2
linked person Arief Budimanta p.73
linked person Rasyid Darajat p.605 ×2
linked person Rubi Pertama p.605 ×2
linked person Danis Subyantoro. p.607
linked person Teuku Ali Usman p.607
linked org Mandiri Capital p.868 ×2
possible org Bank Mandiri’s p.13 ×19
possible org Bank Mandiri. Bank Mandiri p.14
possible org Bank Mandiri Mandiri p.15
possible org Pemerintah Republik Indonesia p.39
possible person Riduan · Director of Commercial Banking p.44 ×3
possible person Boedi Armanto · Independent Commissioner p.44 ×12
possible org PT Bursa Efek Indonesia p.49
possible person Mohamad Nasir p.54
possible person Muhamad · Commissioner p.69 ×2
possible — Program ESA p.544
possible org Negara Republik Indonesia p.814 ×5
unresolved org Bank Mandiri Financial Conglomeration p.3
unresolved org Financial Services Authority p.5 ×12
unresolved org Bank Indonesia p.6 ×5
unresolved org Bank Indonesia Regulation p.6
unresolved org Corporation p.9
unresolved org Bank Mandiri ESG Governance Structure p.9
unresolved org Bank Mandiri’s Initial Public Offering p.11
unresolved org Bank Soundness Level p.11
unresolved org Bank Mandiri’s GCG p.11
unresolved org Indonesia Stock Exchange p.11 ×22
unresolved org Bank Mandiri. ANNUAL p.14
unresolved org Bank Mandiri Governance p.17
unresolved org PT Bank Mandiri Taspen p.21 ×3
unresolved org PT Asuransi Jiwa Inhealth Indonesia p.21 ×3
unresolved org PT AXA Mandiri Financial Services p.21 ×3
unresolved org PT Mandiri Utama Finance p.21 ×3
unresolved org PT Mandiri Manajemen Investasi p.21
unresolved org Ministry of Justice and Human Rights p.23
unresolved org Bank Furthermore p.27
unresolved org Bank Mandiri’s Anti-Fraud Strategy p.29
unresolved org Bank Mandiri. The Whistleblowing p.31
unresolved org Bank Mandiri’s LTC p.31
unresolved org Bank Function p.33
unresolved org Bank Mandiri’s Risk Management p.33
unresolved org Bank Mandiri Policy Architecture. It p.37
unresolved org Bank Mandiri. Mandiri Group Principle Guidlines p.37
unresolved org Bank Mandiri’s Articles p.37 ×2
unresolved org Minister of Law and Human Rights p.37
unresolved org Bank Mandiri Policy Architecture p.37
unresolved org owns one or more share in a Company. Shareholders are p.38
unresolved org owners of the Company. Company’s Share is a share on p.38
unresolved — Republic p.38
unresolved — and/or the Citizens. p.38
unresolved org As a State-Owned Enterprises (SOE), the majority ownership p.38
unresolved org Bank Mandiri is owned by the Government p.38
unresolved org Republic of Indonesia, which in this case is represented p.38
unresolved — by the Ministry of SOE. As such, the Main and Controlling p.38
unresolved org Ministry of SOE. As p.38
unresolved org Shareholder of Bank Mandiri is the Government p.38
unresolved org Republic of Indonesia. There are no Main and Controlling p.38
unresolved org Bank Dagang Negara p.39
unresolved org Bank Mandiri Shareholders p.39
unresolved org Bank Mandiri Operations p.40
unresolved org PT Kustodian Sentral Efek Indonesia p.43 ×5
unresolved person Panji Irawan · Director of Treasury and International Banking p.44
unresolved — Timothy · Director of Information Technology p.44 ×2
unresolved person Arif Budimanta · Commissioner p.45 ×4
unresolved person MLI. p.45 ×2
unresolved org Ministry of SOEs. p.47 ×4
unresolved org Deposit Insurance Corporation p.48 ×2
unresolved org Bank Mandiri Letter No. KPS p.51 ×4
unresolved org Rintis& Partners p.51 ×2
unresolved org Rintis & Partners p.51
unresolved org PricewaterhouseCoopers International Limited p.53
unresolved org Minister of SOEs No. PER- p.53 ×2
unresolved org Minister of State-Owned Enterprise p.53 ×2
unresolved org Minister of SOEs Regulation No. PER- p.53 ×2
unresolved org Bank Mandiri Social p.53 ×2
unresolved org Minister of SOEs. p.53 ×2
unresolved org Bank Mandiri Head Office. Composition p.57
unresolved person Annual GMS · Commissioner p.57 ×9
unresolved person Extraordinary GMS · Commissioner p.57
unresolved org Minister of SOE Regulation p.57
unresolved org Bank Mandiri Board p.62
unresolved org Bank Mandiri’s Board p.67 ×4
unresolved person Banking Development Institution · President Director p.68 ×2
unresolved person Vice · Commissioner p.68
unresolved person Prof. Dr. Moestopo University p.68
unresolved org Directorate General of State Treasury p.68
unresolved person President’s Special Staff · Commissioner p.68
unresolved person Deputy · Commissioner p.68 ×2
unresolved org Bank Mandiri Work Unit Leader p.71 ×6
unresolved org Bank Mandiri Work Unit Leader Plan p.71 ×2
unresolved org Bank Soundness Rating p.71 ×2
unresolved org Bank Mandiri Work Unit Leader Integrated Governance p.71 ×2
unresolved org Bank Performance. Quarterly Review p.72
unresolved org Bank Mandiri’s Annual GMS Plan p.73
unresolved org Bank Mandiri Annual GMS p.73 ×2
unresolved org Bank Mandiri Pension p.73
unresolved org Bank Mandiri’s Internal Audit Function p.73
unresolved org Bank Mandiri’s Organizational p.73
unresolved org Bank Mandiri’s Organizational Structure. p.73
unresolved — ANNUAL REPORT 2023 · 581 p.74
unresolved org Kementerian BUMN AND RESPONSIBILITIES p.75
unresolved org Bank Mandiri Business Supervision p.75
unresolved org Kementerian BUMN p.75
unresolved org Mandiri (Persero) Tbk p.75
unresolved — Variable Remunerations · Board of Directors p.139
unresolved org Bank Mandiri Response p.542 ×2
unresolved org Bank Mandiri’s ESG p.542
unresolved org Bank Mandiri Pg. p.542
unresolved org Bapepam p.542 ×2
unresolved org Bank Mandiri. In p.544
unresolved org PT Bank Syariah Mandiri p.592 ×4
unresolved person Jose Dima Satria S.H. p.592 ×4
unresolved org Menteri Hukum dan Hak Asasi p.592 ×2
unresolved org Minister of Law p.592
unresolved org Syariah Indonesia Tbk p.592 ×2
unresolved org PT Bank Syariah p.592
unresolved org Indonesia Tbk. p.592
unresolved person Muazzir p.592
unresolved person Muhammad Muazzir p.592
unresolved org Bank Mandiri’s Boards p.604
unresolved org Bank Mandiri’s Audit Committee p.605
unresolved org Bank Mandiri’s Komite Remunerasi p.605
unresolved org Bank Mandiri’s Komite Pemantau Risiko Bank Mandiri p.605
unresolved org Bank Mandiri's Internal Audit p.607
unresolved org Bank Umum Syariah. p.814
unresolved org PT Mandiri Capital Indonesia p.868
unresolved org PT Mandiri Capital Indonesia Total p.868

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