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Page 1
Thriving together
towards excellence
Annual Report 2023
Page 2
About the 2023 Annual Report
The 2023 Annual Report of PT Bank QNB Indonesia Tbk contains
material information about the Bank’s business activities
conducted in 2023.
This Annual Report is presented to all stakeholders as part
of the Bank’s accountability for its execution of business strategy
and value creation to all relevant parties in 2023. This Annual Report
contains a comprehensive, accurate, and relevant
set of information, complemented with analyses on the Bank’s 2023
performance in various aspects, from operational and financial,
to environmental, social, and governance.
In 2023, the Bank did not involve any local party in the formulation
and planning of its Sustainable Finance business process apart from
those explained in the Sustainability chapter, but it may do so in
the future.
The contents of PT Bank QNB Indonesia Tbk’s 2023 Annual Report
have not been verified by any independent party.

  This Annual Report covers events, results and achievements recorded within the period of
  1 January 2023 to 31 December 2023. The report’s editorial date is 28 March 2024.
Page 3
2023 Highlights    Reports to Stakeholders   Company Profile   Management Discussion and Analysis         Corporate Governance         Sustainability




Contents

2023 Highlights                                                          73    Other Material Financial Information
                                                                         73    Information on Material Transaction Containing
6     Financial Highlights
                                                                               Conflict of Interest and/or Transaction with
10    Share Highlights
                                                                               Affiliated Parties Transaction with
11    Corporate Actions
                                                                               Related Parties
12    Significant Events
                                                                         73    Tax Compliance
Reports to Stakeholders                                                  73    Affiliated Transactions with Controlling
16    Message from the Board of Commissioners                                  Shareholders
18    Report of the Board of Directors                                   73    Changes in Regulations and Their Impacts
22    Statement of Responsibility of Members of the Board of             73    Changes in Accounting Policy and Their Impacts
      Directors and Board of Commissioners for the 2023                  74    2024 Strategy and Projections
      Annual Report of PT Bank QNB Indonesia Tbk
                                                                         Corporate Governance
Company Profile                                                          78 GCG Foundations and Policy
26    Corporate Identity                                                 78 GCG Implementation Objectives
27    Milestones                                                         79 GCG Principles
30    Vision, Mission, and QNB Values                                    80 GCG Roadmap
32    Line of Business                                                   81 GCG Mechanism
33    Product and Services                                               81 GCG Programmes in 2023
38    Organisation Structure                                             82 GCG Assessment
40    Branch Offices                                                     84 GCG Structure
40    Shareholders                                                       84 General Meeting of Shareholders
42    Board of Directors Profile                                         87 Board of Commissioners
46    Board of Commissioners Profile                                     91 Board of Directors
50    Changes in Board of Commissioners and                              96 Committees Under the Board of Commissioners
      Board of Directors’ Composition                                    102 Committees Under the Board of Directors
51    Executive Management Profiles                                      117 Corporate Secretary
54    Shares & Other Securities Listing Chronology                       118 Internal Audit
55    Public Accountant                                                  121 Internal Control System
56    Capital Market Supporting Institutions                             122 Compliance Function
      and Professions                                                    127 Risk Management
57    Membership in Associations                                         132 Banking Risk Disclosure Tables
                                                                         146 Code of Ethics and Corporate Culture
Management Discussion and Analysis                                       147 Whistleblowing System
60    Industry Review                                                    148 Anti-Bribery and Corruption Policy
61    Banking Business Review                                            148 Information Disclosure and Access to
64    Human Resources                                                        Bank’s Information
66    Information Technology                                             149 Litigations
67    Financial Analysis                                                 149 Sanctions
67    Statement of Financial Position                                    149 Transparency on the Bank’s Financial
69    Statement of Profit or Loss                                            and Non-Financial Performance
70    Statement of Cash Flows                                            149 Policy on Transactions with Conflict of
71    Key Financial Ratios                                                   Interest
72    Capital Structure and Management Policy                            150 Implementation of OJK’s GCG Guidelines
      on Capital Structure                                                   for Public Companies
72    Material Commitments for Investment in
                                                                         Sustainability
      Capital Goods
72    Material Information and Facts after the                           154 QNB Sustainability Strategy
      Accountant’s Report                                                156 Targets & Achievements
72    Comparison of 2023 Targets and Achievements                        158 Sustainable Finance
72    Dividend Policy                                                    160 Sustainable Operations
72    Management and Employee Stock Option Programme                     163 Beyond Banking
72    Share and Bonds Buyback
                                                                         Financial Statements
72    Commitments and Contingencies
73    Use of Public Offering Proceeds




                                                                                                    PT Bank QNB Indonesia Tbk Annual Report 2023 — 1
Page 4
Theme Continuity
                                                   2020
                                                   Perseverance during uncertain times

                                                   The world in 2020 was beset with an unprecedented level of uncertainty, with the
                                                   Covid-19 pandemic forcing a transformative rethinking of how to survive in such
                                                   an uncertain time. Against this, QNB Indonesia has persevered to deliver
                                                   a resounding, all-round response and rose above the challenges. It has swiftly and
                                                   prudently deployed the necessary measures to deal with debt quality deterioration
                                                   while steadfastly catering to its customers’ needs amidst the pandemic
                                                   by enhancing its digital offerings. With an unwavering support from its parent entity,
                                                   the QNB Group, the Bank is navigating the vast uncharted waters of
                                                   uncertainty with a confident grip of the wheel, and a solid vision to thrive along a
                                                   path of sustainable growth.




                                                   2021
                                                   Adapting and advancing in the new normal

                                                   As the world shifted to a higher gear in tackling pandemic challenges and living in
                                                   the “new normal”, global economies have rebounded, invigorated by unprecedented
                                                   stimulus measures from authorities worldwide. The banking industry,
                                                   a key facilitator of wider economic activities, had shown strength and preparedness
                                                   to deal more effectively with the current crisis than in previous ones. Moving ahead
                                                   in the industry, QNB Indonesia demonstrated agility in adopting transformative
                                                   technology and mindset to future-proof its business, rolling out strategic and
                                                   comprehensive initiatives to enhance its service and enrich its offerings. With
                                                   three monumental leaps in 2021—improving loan quality, entering the mass
                                                   market segment, and reinforcing its balance sheet with capital support from QNB
                                                   Group—the Bank stands ready to progress and deliver sustainable value in the post
                                                   pandemic era.




                                                   2022
                                                   Driving growth for a sustainable future

                                                   Throughout the Covid-19 pandemic, QNB Indonesia had grappled with significant
                                                   challenges resulting from the restrictions and the ensuing economic downturn.
                                                   Yet the Bank successfully navigated through the turbulence. In the process,
                                                   it has strengthened asset quality and laid a solid foundation for future expansion.
                                                   The Bank has been able to capture growth opportunities and improve its financial
                                                   footing thanks to robust governance, effective risk management, and its
                                                   shareholders’ staunch support for long-term financial stability. Having weathered
                                                   the severe headwinds of the recent times, the Bank is now poised to pursue
                                                   sustainable growth forward. QNB Indonesia aspires to drive its progress
                                                   along a prudent and responsible pathway, while simultaneously creating
                                                   meaningful value for the shareholders, customers, employees, and the community
                                                   at large.




2 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 5
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis         Corporate Governance         Sustainability




Theme Rationale
Thriving together towards excellence
                                                                        In 2023, QNB Indonesia’s strategic resilience,
                                                                        financial discipline, and commitment to excellence was made
   Net Interest Margin (NIM)                                            manifest in the Bank’s more stringent risk management,
                                                                        enhanced level of customer service, and a positive net profit
   improved to                                                          that heralded a new era of strong and sustainable financial
                                                                        results going forward. These achievements, underscored by
                                                                        equally significant progress in digital innovation,
                                                                        sustainability, and corporate governance, reflect a united

   3.83%                                                                effort of the Bank to shore up collective action, with various
                                                                        relevant parties, to thrive towards excellence.
                                                                        This 2023 Annual Report theme is highlighting
                                                                        the Bank’s collaborative success, adaptability, and foresight
                                                                        in navigating challenges and setting a foundation for lasting
                                                                        growth and prosperity.
   Capital Adequacy Ratio (CAR)
   increased to



   62.23%

   Liquidity Coverage Ratio (LCR)
   increased to



   465.30%

   Net Stable Funding Ratio (NSFR)
   increased to



   190.59%                                                                     The Bank looks ahead and upwards to thrive together and
                                                                                                reach greater heights.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 3
Page 6
2023
Highlights
Page 7
QNB Indonesia strives to progress at pace, with a keen
attention to sustainability principles.
Page 8
Financial Highlights
 (in million Rupiah)
 Statement of Financial Position                            2023          2022          2021          2020          2019
 ASSETS
 Cash                                                     24,445        33,354        36,785        37,456        51,446
 Current Accounts with Bank Indonesia                    543,920       919,797       472,517       517,632     1,098,363
 Current Accounts with Other Banks - Net                 184,089       148,347       275,568       134,274        73,089
 Placements with Bank Indonesia and Other Banks        1,092,008     1,032,898     1,979,562     1,683,860     1,656,505
 Derivative Receivables                                       11           108         1,307         5,741         5,059
 Acceptance Receivables - Net                                   -      188,295         6,775       129,036       211,522
 Securities Purchased under Agreement to Resell        2,977,202     3,072,222     2,350,769       982,688       304,673
 Loans - Net                                           5,449,285     9,256,123     9,615,446    11,267,424    13,876,418
 Securities - Net                                        389,952       513,987       953,854     1,286,846     3,642,725
 Prepayments                                              33,035        22,687        30,462        66,995        61,323
 Deferred Tax Assets - Net                               280,354       272,500       280,285       374,275       314,839
 Fixed Assets and Right-of-Use Assets                    212,916       275,398       321,226       365,906       138,903
 Intangible Assets                                        59,892        57,148        52,779        34,524        30,010
 Foreclosed Assets - Net                                 250,416       665,046     1,001,757     1,280,395     1,358,462
 Other Assets - Net                                      255,960       259,177       322,435       130,648       198,448
 Total Assets                                         11,753,485    16,717,087    17,701,527    18,297,700    23,021,785


 LIABILITIES
 Liabilities Payable on Demand                            12,555        24,028        16,247        15,425        29,570
 Deposits from Customers                               6,339,203    10,604,624    12,015,196    11,965,297    15,909,399
 Deposits from Other Banks                                 1,832         7,302         7,771         7,664     1,361,492
 Acceptance Payables                                            -       26,336         6,778       129,058       211,522
 Derivative Payables                                       1,838            90         1,256         5,636           425
 Securities Sold under Repurchase Agreements             385,051              -             -             -             -
 Borrowing                                                      -    1,000,000     1,000,000     1,060,000              -
 Marketable Securities Issued                                   -             -       99,888       545,122       547,811
 Obligation for Employment Benefits                       67,187        68,066        81,610        74,016        67,852
 Accruals and Other Liabilities                          254,370       333,222       446,233       383,040       204,150
 Total Liabilities                                     7,062,036    12,063,668    13,674,979    14,185,258    18,332,221


 EQUITY
 Share Capital - par value of Rp250 (whole Rupiah)
 per share Authorized Capital 40,000,000,000 shares
 as of December 31, 2023 and 2022, respectively
                                                       8,789,512     5,109,171     5,109,171     5,109,171     5,109,171
 Issued and Fully Paid Capital 35,158,048,365 and
 20,436,685,984 shares as of December 31, 2023
 and 2022, respectively
 Additional Paid-in Capital - Net                       (33,588)      (30,150)      (30,150)      (30,150)      (30,150)
 Advanced Capital                                          3,652     3,683,926     2,683,926     1,183,926       741,696
 Fair Value Reserve - Net                                    (61)       28,183         8,605        18,782         (458)
 Retained Earnings (Deficit):
    Appropriated                                           6,396         6,396         6,396         6,396         5,396
    Unappropriated                                    (4,074,462)   (4,144,107)   (3,751,400)   (2,175,683)   (1,136,091)
 Total Equity                                          4,691,449     4,653,419     4,026,548     4,112,442     4,689,564
 Total Liabilities and Equity                         11,753,485    16,717,087    17,701,527    18,297,700    23,021,785




6 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 9
2023 Highlights    Reports to Stakeholders       Company Profile    Management Discussion and Analysis          Corporate Governance         Sustainability




                         Total Assets                                                                     Total Liabilities


  (in million Rupiah)                                                           (in million Rupiah)


  2023                            11,753,485                                    2023                          7,062,036

  2022                                       16,717,087                         2022                                      12,063,668

  2021                                        17,701,527                        2021                                           13,674,979

  2020                                         18,297,700                       2020                                            14,185,258

  2019                                                 23,021,785               2019                                                      18,332,221




                         Total Equity                                                                      Share Capital


  (in million Rupiah)                                                           (in million Rupiah)


  2023                                                4,691,449                 2023                                                      8,789,512

  2022                                                4,653,419                 2022                                   5,109,171

  2021                                          4,026,548                       2021                                   5,109,171

  2020                                           4,112,442                      2020                                   5,109,171

  2019                                                4,689,564                 2019                                   5,109,171




                  Capital Adequacy Ratio                                                                     NPL Gross


  (in %)                                                                        (in %)


  2023                                                62.23                     2023               0.77

  2022                                38.59                                     2022          0.38

  2021                         29.92                                            2021        0.08

  2020                     24.53                                                2020                                              4.66

  2019                  21.08                                                   2019                                                      5.63




                                                                                                          PT Bank QNB Indonesia Tbk Annual Report 2023 — 7
Page 10
Financial Highlights (Continued)
 (in million Rupiah)
 Statement of Profit or Loss and
 Other Comprehensive Income                                       2023          2022          2021        2020        2019
 OPERATING INCOME AND EXPENSES
 Interest Income                                               944,701       863,896       871,120    1,233,605   1,401,513
 Interest Expense                                             (440,803)    (431,896)     (533,643)    (971,493)   (979,937)
 Net Interest Income - Net                                     503,898       432,000       337,477     262,112     421,576


 OTHER OPERATING INCOME
 Fees and Commission - Net                                      63,006        68,127        56,006      38,785      56,887
 Trading Income - Net                                           19,895        21,034        14,936      34,261      76,968
 Recovery from Non-Performing Loan Sale Transactions                  -             -             -     23,911            -
 Others                                                        163,011       180,294       146,977      25,532      42,748
 Total Other Operating Income                                  245,912       269,455       217,919     122,489     176,603


 OTHER OPERATING EXPENSES
 Personnel Expenses                                           (289,816)    (280,414)     (311,973)    (307,967)   (267,667)
 General and Administrative Expenses                          (209,734)    (202,517)     (187,521)    (158,788)   (175,598)
 Provision for Impairment Losses on Financial Assets          (136,468)    (613,732)    (1,531,916)   (172,522)    (95,062)
 Loss on Sale of Financial Assets                              (39,668)             -             -           -           -
 Others                                                         (4,875)       (5,524)       (7,981)    (24,704)    (55,705)
 Total Other Operating Expenses                               (680,561)   (1,102,187)   (2,039,391)   (663,981)   (594,032)


 Profit (Loss) Before Income Tax                                69,249     (400,732)    (1,483,995)   (279,380)      4,147
 Income Tax (Expense) Benefit                                         -             -      (94,782)   (142,788)      1,130
 Profit (Loss) for the Year                                     69,249     (400,732)    (1,578,777)   (422,168)      5,277


 OTHERS COMPREHENSIVE INCOME
 Item that would be Reclassified to Profit or Loss:
    Fair Value Changes of Securities Measured at Fair Value
                                                               (36,210)       25,100       (12,446)     24,088        (607)
    Through Other Comprehensive Income
    Income Tax related to Items that would be
                                                                 7,966        (5,522)        2,269      (4,848)        152
    Reclassified to Profit or Loss
 Items that would not be Reclassified to Profit or Loss:
    Remeasurements of Obligation for
                                                                   508        10,288         4,537       5,693      16,910
    Post-Employment Benefits
    Income Tax related to Items that would not be
                                                                  (112)       (2,263)       (1,477)       (226)     (4,228)
    Reclassified to Profit Or Loss
 Other Comprehensive (Loss) Income Net of Tax                  (27,848)       27,603        (7,117)     24,707      12,227
 Total Comprehensive Income (Loss) for the Year                 41,401     (373,129)    (1,585,894)   (397,461)     17,504




8 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 11
2023 Highlights       Reports to Stakeholders   Company Profile   Management Discussion and Analysis         Corporate Governance         Sustainability




 (in %)
 Financial Ratios                                                     2023               2022              2021              2020               2019
 CAPITAL
 Capital Adequacy Ratio (CAR)                                         62.23             38.59             29.92              24.53             21.08


 PRODUCTIVE ASSETS
 Productive Assets & Non-Productive Assets
 (Non-Performing Assets) to Total Productive Assets &                  2.38              4.32               6.03              9.64               9.36
 Non-Productive Assets
 Non-Performing Productive Assets to Total Productive
                                                                       0.37              0.29               0.05              3.54               5.63
 Assets
 Allowance for Impairment Losses to Productive Assets                  4.15              3.26               2.36              4.19               0.84
 Non-Performing Loans (NPL) Gross                                      0.77              0.38               0.08              4.66               5.63
 Non-Performing Loans (NPL) Net                                        0.09              0.08               0.04              1.21               4.45


 PROFITABILITY
 Return on Assets (ROA)                                                0.48            (2.42)             (8.50)            (1.24)               0.02
 Return on Equity (ROE)                                                1.65           (11.74)           (54.71)            (13.54)               0.05
 Net Interest Margin (NIM)                                             3.83              3.19               2.34              1.61               2.56


 LIQUIDITY
 Macroprudential Intermediation Ratio (MIR)                           93.94             91.11             80.95              97.02             84.70


 COMPLIANCE
 Percentage of Legal Lending Limit Violation
    Related Parties                                                        -                 -                  -                   -                -
    Non-Related Parties                                                    -                 -                  -                   -                -
 Daily Minimum Reserve Requirement (Rupiah)                           10.08              9.30               3.43              3.50               6.00
 Average Minimum Reserve Requirement (Rupiah)                          8.84              9.01               3.50              3.50               6.00
 Minimum Reserve Requirement (Foreign Currency)                        4.01              4.05               4.08              4.02               8.02
 Net Open Position (NOP)                                               0.04              0.15               0.25              1.06               0.46




                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 9
Page 12
Share Highlights
                       Opening           Highest          Lowest           Closing       Transaction               Number of              Market
 Period                   Price            Price            Price            Price           Volume             Shares Issued      Capitalisation
 2023
 Triwulan I                   102              109              75               89        99,457,300           20,436,685,984   1,818,865,052,576
 Triwulan II                   89              118              81               88       203,407,800           35,158,048,365   3,093,908,256,120
 Triwulan III                  88              101              84               87       180,554,600           35,158,048,365   3,058,750,207,755
 Triwulan IV                   87               88              77               81       130,514,900           35,158,048,365   2,847,801,917,565


 2022
 Triwulan I                   192              206            134               156            828,233          20,436,685,984   3,188,123,013,504
 Triwulan II                  192              206            120               130          1,539,559          20,436,685,984   2,656,769,177,920
 Triwulan III                 130              135            106               110          1,878,346          20,436,685,984   2,248,035,458,240
 Triwulan IV                  110              137              96              102          2,652,368          20,436,685,984   2,084,541,970,368



Throughout 2023, the Bank’s shares listed on the IDX under the stock ticker code “BKSW”, were traded normally.




    Success in building relationships that benefit customers is a source of satisfaction for the Bank's employees.




10 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 13
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




Corporate Actions

                        At the Extraordinary General Meeting of Shareholders (EGMS) on 16 February 2023,
                        the Bank obtained shareholder approval to carry out a Limited Public Offering to Shareholders for
                        Addition of Capital by Issuing Pre-emptive Rights (Right Issue) VII. The Bank had implemented Rights
                        Issue VII according to the schedule. The number of shares resulting from the implementation of Rights
                        Issue VII amounted to 14.72 billion shares with a nominal value of Rp250 each share, bringing the
                        total proceeds for the Bank amounted to Rp3.68 trillion.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 11
Page 14
Significant Events




                    Mini Directorate Townhall 2023                              Qatar Sports Day 2023




January                                                      February
> Mini Directorate Townhall 2023                             > Qatar Sports Day 2023
                                                             > Extraordinary General Meeting of Shareholders




                    Senior Leadership Engagement             •                QNB Indonesia’s Anniversary




March                                                        April
> Senior Leadership Engagement                               > QNB Indonesia’s Anniversary
> Launching of QNB First The Premiere




               Annual General Meeting of Shareholders                      Launching of C-Boost Programme




May                                                          June
> Annual General Meeting of Shareholders                     > Launching of C-Boost Programme
> CSR financial literacy – QNB Indonesia Goes to School at
  SMKN 30 Jakarta

12 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 15
2023 Highlights        Reports to Stakeholders    Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                           MDP campus hiring                                                                QNB Juang 2023




July                                                                          August
> Customer Loyalty Awards PRIMA Network                                       > Blood donation
> MDP campus hiring                                                           > QNB Juang 2023




•                   Students visit to Semarang Branch                                             MDP 2021 graduation celebration




September                                                                     October
> Students visit to Semarang Branch                                           > MDP 2021 graduation celebration
                                                                              > Wealth Award Night




                  Launching of First Starter Programme                                                    Year-end gathering




November                                                                      December
> Launching of First Starter Programme                                        > Year-end gathering
                                                                              > CSR financial literacy – QNB Indonesia Goes to School at
                                                                                SMK Wisata Indonesia

                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 13
Page 16
Reports to
Stakeholders
Page 17
Diligently applying the principle of prudence as part of
a holistic compliance culture, QNB Indonesia is
cultivating sustainable growth from the ground up for
many years to come.
Page 18
Message from the Board of Commissioners




Fatma Abdulla Al-Suwaidi
President Commissioner




 “ The BoD successfully ushered the                 Assalamu’alaikum, greetings to you all,
                                                    On behalf of the Board of Commissioners, I am pleased to
   Bank back to the path of profitability,          report how Indonesia in 2023 went through an exuberant
   as we concurrently underscore the                era of resilience and growth, despite tremendous
                                                    headwinds from the global economy. The interplay of
   importance of diversifying the                   Indonesia’s robust economic dynamics had resulted in a
   lending base and managing portfolio              5.1% expansion in GDP, fueled by an increase in both
                                                    private and government consumption, a steady flow of
   quality continually."                            foreign investment, and a significant drive from the
                                                    younger generation to play their part in the economy.




16 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 19
2023 Highlights     Reports to Stakeholders   Company Profile       Management Discussion and Analysis          Corporate Governance         Sustainability




In tandem with the wider economy, the banking sector in                       Review of 2024 Business Prospects and Plans
Indonesia demonstrated a positive trajectory, marked by
                                                                              Looking forward, the Bank is training its sights on sustaining
credit expansion across various sectors. Indonesian banks
                                                                              profitable operations throughout 2024 and beyond. To
had navigated persistent high inflation, hawkish
                                                                              achieve this, the BoD has formulated a comprehensive
monetary policies, and looming recession risks with
                                                                              strategy that will focus on enhancing funding quality and
composure and flair. The banking industry’s growth,
                                                                              lowering cost of fund, boosting cross-selling and fee-based
combined with stability in key performance indicators,
                                                                              services, strengthening process automation to solidify our
signaled a healthy financial environment.
                                                                              information technology architecture, and elevating
Supervision of the Board of Directors’ Strategy                               workplace culture through our long-standing programmes
and Performance in 2023                                                       like internal promotions and talent development.

QNB Indonesia shone through these times thanks to the                         Acknowledgments
vision and leadership of the Board of Directors (BoD). It had                 The BoC extends gratitude to all shareholders, the
executed the Bank’s business plans with strategic precision,                  management, and employees of the Bank for their
focusing on risk mitigation, effective liquidity management,                  contribution to the Bank. With support from the QNB Group’s
and cost control, while maintaining the Bank upward                           global presence and the firm supervision of OJK, BI, and other
momentum in lending capability.                                               regulators, the BoC is optimistic in the Bank’s ability to
The BoD had steered the Bank through scores of challenges                     thrive amid future challenges together with our customers
in the economy with a prudent hand. In particular, we                         and the Indonesian nation.
highlight the commendable efforts orchestrated by the BoD
that led to an improvement in the Bank’s Risk-Based Bank
Rating (RBBR), signifying the Bank’s strengthened risk
management framework.
As the BoD managed the Bank’s liquidity position,
maintaining optimal key financial ratios, it also enacted
strict control over costs, reinforcing the Bank’s commitment
to “Capital Discipline”. This strategy proved vital to
upholding financial integrity and generating value,
especially during periods of unpredictability in the credit
market. We applaud the BoD’s success in ushering the Bank
back to the path of profitability, as it posted Rp69.2 billion in
net profit. Concurrently, we underscore the importance of
diversifying lending base and managing portfolio quality
continually.

View on Corporate Governance
The BoC maintained rigorous oversight throughout the
year, ensuring that the Bank’s strategic direction and entire
operation adhered to the highest standards of corporate
governance, compliance, and accountability. The
Independent Commissioners continued to provide their
invaluable and objective insights and safeguard stakeholder
rights, particularly those of minority shareholders.
Throughout 2023, the BoC and its three committees—
the Audit Committee, the Remuneration & Nomination
Committee, and the Risk Oversight Committee—effectively
performed their respective duties to ensure that the principles
of GCG and prudential banking were embodied by all staff
across the Bank’s business dealings. We are grateful for their
members’ exemplary professionalism in their capacities.




                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 17
Page 20
Report of the Board of Directors




Haryanto Suganda
President Director



 “ Our strong liquidity profile                                The country’s GDP growth, at 5.1%, was slightly
                                                               lower than 2022’s figure of 5.3%. Indonesia’s robust growth
   strengthened our ability to meet                            was supported by solid domestic demand. Household
                                                               consumption grew by 5.06% year-on-year, in line with
   short and long-term obligations,                            the uptick in mobility, vigorous purchasing power, and
   effectively securing a healthy                              high consumer confidence. Inflation over the course of the
                                                               year was held steady at 2.61%, within the target range of
   balance sheet to pursue bold                                2 to 4% set by Bank Indonesia.
   objectives in the future. "                                 Indonesia’s stable economic environment has certainly
                                                               benefitted the Bank’s business. We have been able to
                                                               overcome the historical challenges of previous years—
Distinguished shareholders and stakeholders,                   brought by our legacy loans and impaired by the Covid-19
Reflecting on 2023, on behalf of the Board of Directors I am   pandemic—to emerge stronger and record our first profit
heartened to report how it has been a year of notable          for the year since 2020. Having brought this difficult
advancements for QNB Indonesia. Building upon years of         period to a close, the Bank has now pivoted back to a
resolute efforts, the Bank has yielded positive results that   sounder financial footing. A key contributor to this
we hope will propel its growth along a favourable trajectory   turnaround has been a marked enhancement in our asset
going forward.                                                 quality. Although our loan book growth has been more
                                                               modest than anticipated, the assets we hold are now much
Amid the evolving economic landscape, Indonesia
                                                               more robust. This healthy portfolio quality will form the
demonstrated resilience and adaptability throughout 2023.
                                                               baseline for our growth outlook.




18 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights    Reports to Stakeholders   Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




2023 Strategy: Prudent Execution and Financial                             they received the highest level of support and meticulously
Discipline                                                                 tailored conveniences that met their individual needs.
                                                                           A highlight of our customer-centric approach was the
In 2023, QNB Indonesia embarked on a strategic journey
                                                                           unveiling of the First Starter programme, aimed at QNB
guided at all times by the principle of prudence. Our
                                                                           First customers with children aged 17–30. This innovative
strategy is derived from QNB Group’s global strategy,
                                                                           programme underscores our commitment to support the
which is based on three pillars: focusing on its core as a
                                                                           educational aspirations of the next generation. We have
wholesale bank by providing a best-in-class offering to its
                                                                           partnered with education consultants that offer
customers, leveraging technology and innovation as a
                                                                           comprehensive overseas education consultation services,
strategic enabler, and embedding sustainability into its
                                                                           helping young individuals and their families navigate the
business and operating model to make a positive
                                                                           complexities of pursuing education abroad and robustly plan
contribution to our societies. These three pillars are
                                                                           their finances to achieve this goal.
embedded into how we structure our strategy in
Indonesia. We also leveraged lessons from the past to refine               Sustainable Finance
our operational strategies, which we devised with vision
                                                                           QNB Indonesia is actively engaging in a transformative ESG
and executed with rigour. This approach significantly
                                                                           initiative, aligning with the broader commitment of QNB
shrank our cost of funds, reflecting our judicious approach
                                                                           Group to foster sustainable and responsible banking
to overall financial management and demonstrating our
                                                                           practices. Central to this initiative is our focus on green
commitment to financial discipline and cost control.
                                                                           financing. In this ESG journey, we made the call to gradually
In our Corporate & Institutional Banking segment—a core                    downshift our coal-based portfolio and direct more funding
part of our strategy and operations—we concentrated our                    towards pivotal sectors in the green economy, to mark the
financial intermediation role on three critical sectors:                   Bank’s commitment to combating global warming by
metals & mining, manufacturing, and multifinance. Each                     transitioning towards cleaner energy. For 2024, our strategy
of these sectors, in our view, presented a unique set of                   involves engaging industry sectors instrumental in
opportunities and challenges, which are particularly                       fostering sustainable development, such as renewable energy,
pertinent with our plan to align loan book growth with our                 electric vehicle (EV) supply chain, transition metals, and
stringent risk appetite, given the high-rate environment                   downstream nickel processing.
prevalent in 2023. High interest rates called for a rethinking
of our strategy and a revision of several business targets, a              Innovative Mind-set
situation mirrored across the banking sector. We                           QNB Indonesia relentlessly pursues progress as we aim to be
approached this by strategically bringing top-tier players                 better in what we do and what we deliver to our customers.
from said sectors into our portfolio, in effect expanding our              Our drivenness to innovate in 2023 was articulated in
reach while adhering to risk management.                                   various aspects of our operations—from the new products
In the metals & mining sector, we capitalised on certain                   and value proposition we introduced to our clientele, to the
opportunities. The groundwork for sustainable financing                    numerous enhancements and strengthening of our internal
emerged as one of key focus areas in this sector for 2023                  systems, with two highlights being risk management
and will continue to be a priority in our strategy. The global             and regulatory compliance. We are determined to build upon
shift towards sustainability has created a trend among coal                the improvements we had accumulated over the years, to
companies to diversify into renewable energy. We actively                  further sharpen our expertise and enrich our offerings in
support this transition, aiding these companies in redefining              the years to come.
their business in line with more sustainable practices.
                                                                           Financial Results
Our lending base was also extended to infrastructure,
telecommunications, consumer finance, logistics, and                       In 2023, QNB Indonesia implemented strategic measures
consumer goods. In consumer finance, we selectively                        that boosted the Bank’s financial standing, surpassing
partnered with high-quality players, backing the                           targets for net interest income, total income, expenses, and
government’s initiative to bolster MSMEs as the lifeblood                  operating profit. Our loan portfolio at year-end stood at
of Indonesia’s economy. We directed a significant portion                  Rp5.4 trillion, with third-party funds rising to Rp6.3 trillion.
of our 2023 rights issue proceeds to maximize returns                      This led to an LDR of 87%, in line with our target.
through expanded lending.                                                  Our focus on serving corporate customers in the industries
Our Retail Banking segment intensely focused upon                          within our expertise corridor, combined with an improved
delivering unparalleled value-added service to our clientele.              funding balance, allowed us to book net interest income of
Our commitment was embodied in how we enhanced                             Rp69.25 billion, a 117% increase from 2022. We successfully
customer experience at every point of interaction.                         kept NPL ratio at 0.09%, markedly lower than the industry
Our exacting standards in customer service ensure that                     average of 2.19%. This keystone metric set us up for more
                                                                           optimised provisioning expenses.




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 19
Page 22
Report of the Board of Directors
Our liquidity position was robust, with liquidity coverage      Acknowledgments
ratio of 465.3% and net stable funding ratio of 190.59% by
                                                                We express our gratitude to the BOC, shareholders, our
end of 2023, both well above the regulatory minimum of
                                                                banking clientele, and all stakeholders for their support and
100%. This strong liquidity profile strengthened our
                                                                trust in the Bank’s undertakings, as well as to our employees
ability to meet short and long-term obligations, effectively
                                                                for their hard work and contribution. We are poised for a
securing a healthy balance sheet.
                                                                vibrant year in 2024, deepening our focus on sustainable
Regulatory Compliance and Governance                            growth, digital innovation, in service to our customers and
                                                                the Indonesian nation.
To ensure long-term success and resilience, especially in
these challenging times, the Bank unwaveringly adheres to
GCG practices in conducting our operations. The Bank
maintains a close working relationship with the OJK to stay
updated with new regulatory changes. Our GCG framework
is updated to reflect the latest regulatory releases, and
the updates are integrated and communicated across
our organisation.
We strengthened the leadership team by filling senior
positions, enhancing our capabilities and building readiness
for the challenges and opportunities we expect to encounter
over the next few years. This advancement received
the backing from our BoC, which represents QNB Group’s
and our other shareholders’ confidence in the Bank’s
direction and in Indonesia’s potentials.

2024 Outlook, Strategy, and Targets
Our outlook for the Indonesian economy is marked by
optimism, driven by the nation’s inherent resilience and
potential for growth. We have shaped this outlook by taking
into account not only our internal achievements but also the
broader economic context. Indonesia’s GDP growth is
expected to moderate slightly with further easing of the
commodity boom. Private consumption is projected to be
the primary growth driver. We expect a surge in business
investment and public spending, bolstered by ongoing
reforms and initiatives from the new administration.
In light of this economic forecast, the Bank’s strategy is to
balance growth with a disciplined risk management
approach. We will continue to disburse loans more widely
while maintaining a vigilant eye on NPL and provisioning
adequately to minimise credit risk. QNB Indonesia’s
strategy will be refined continuously, informed by the
evolving market dynamics and following the Group’s
overall strategy. We recognise the sheer potential of
the digital economy, and thus will keep on enhancing the
foundation and support system inside our UCan product.
This, we believe, will help in expanding the offer and shall
boost the Bank’s standing in the retail segment as well as
overall profitability.




20 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 23
2023 Highlights   Reports to Stakeholders    Company Profile       Management Discussion and Analysis          Corporate Governance         Sustainability




                      The Bank helps customers discover potentials for financial growth through personal consultations,
                                             empowering their future with each transaction.



                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 21
Page 24
Statement of Responsibility of Members of the Board of Directors and
Board of Commissioners for the 2023 Annual Report of
PT Bank QNB Indonesia Tbk

We the undersigned hereby state that all information contained within the 2023 Annual Report of PT Bank QNB Indonesia Tbk has
been presented in full and that we assume full responsibility for the truthfulness of the contents of the Company’s Annual Report.


Thus we have made this statement truthfully.



                                                    Members of the Board of Directors




                                                           Haryanto Suganda
                                                            President Director




         Windiartono Tabingin                       Nicolas Alix Groene (Nick Groene)        Soemenggrie Jongkamto
               Director                                          Director                          Director




22 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders     Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                            Members of the Board of Commissioners




                                                     Fatma Abdulla Al-Suwaidi
                                                       President Commissioner




         Khalid Ahmed Al-Sada                             Djoko Sarwono                                Muhammad Anas Malla
             Commissioner                            Independent Commissioner                         Independent Commissioner




                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 23
Page 26
Company
Profile
Page 27
The Bank is committed to making every interaction bring
about smarter financial decisions and open up a more
prosperous future.
Page 28
Corporate Identity
 Company Name                             : PT Bank QNB Indonesia Tbk

 Line of Business                         : Banking

 Share Ownership                          : > Qatar National Bank (Q.P.S.C.) (95.63%)
                                            > Public (4.37%)

 Date of Establishment                    : 28 April 1913

 Legal Basis of Establishment : Deed No. 53 dated 28 April 1913, prepared before Leonard Hendrik-Willem Van Sandick,
                                Notary in Medan, approved by Besluit Gouverneur Generaal of the Dutch East Indies No. 58
                                dated 16 July 1913, and announced in the Extra Bijvoegesel der Javasche Courant No. 78
                                dated 30 September 1913

 Authorised Capital                       : Rp10,000,000,000,000 (ten trillion rupiah)

 Issued and Fully Paid Capital : Rp8,789,512,091,250 (eight trillion seven hundred and eighty nine billion five hundred
                                 and twelve million ninety one thousand and two hundred fifty rupiah)

 Share Listing                            : The Bank’s shares were listed on the Indonesia Stock Exchange (previously Jakarta Stock
                                            Exchange) on 21 November 2002.

 Ticker Code                              : BKSW

 SWIFT Code                               : AWANIDJA

 Ratings                                  : “AAA(idn)” with “Stable” outlook from Fitch Ratings.

 Number of Employees                      : 402 personnel

 Address                                  : Revenue Tower, 8th Floor
                                            District 8, SCBD Lot 13
                                            Jl. Jenderal Sudirman Kav. 52–53
                                            Jakarta 12190
                                            Telephone (+62 21) 515 5155
                                            Fax (+62 21) 515 5388

 Website                                  : www.qnb.co.id

 Contact Center                           : Telephone (+62 21) 300 55 300
                                            E-mail contact.center@qnb.co.id

 Publication & Media                      : corporate.communication@qnb.co.id

 Network                                  : 1 head office
                                            6 branch offices
                                            2 sub-branch offices
                                            11 ATMs

 Subsidiaries                             : As at the end of 2023, PT Bank QNB Indonesia Tbk had no subsidiaries.




26 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights    Reports to Stakeholders     Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




Milestones


              Established                         Changed its                             Relocation of                               Awarded
              in Medan as                         name to                                 headquarters                                “Bank A”
              NV Chunghwa                         PT Bank                                 to Jakarta                                  category
              Shangyeh                            Chunghwa                                                                            from Bank
              Maatschappij                        Shangyeh.                                                                           Indonesia.
              (The Chinese
              Trading
              Company
              Limited).




    1913             1958                    1962                1965           1990                    1996                 1998




                                                                                                                 Obtained
                                Commenced                           Changed its                                  license as
                                operations as                       name to                                      a Foreign
                                a Commercial                        PT Bank                                      Exchange
                                Bank.                               Kesawan.                                     Bank.




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 27
Page 30
Milestones (Continued)


             Initial Public                         > Rights Issue II.             Rights                     Subordinated
             Offering by                            > Qatar National               Issue III                  loan of
             listing                                 Bank (Q.P.S.C.)                                          USD 70 million
             78.8 million                            became majority                                          for 5 years,
             shares on the                           shareholder with                                         calculated as
             Indonesia                               69.59% ownership.                                        Tier II Capital
             Stock                                                                                            as of
                                                    > Changed its name
             Exchange.                                                                                        30 September
                                                     to PT Bank QNB                                           2015
                                                     Kesawan Tbk.




    2002                 2009                 2011          2012          2013             2014         2015




                                                                                               > Name and logo
                                                                                                  transformation
                                                                                                  to PT Bank QNB
                                                                                                  Indonesia Tbk.
                                                                                               > Rights Issue IV.
                                                                                               > Qatar National
                                                                   Relocation of                  Bank (Q.P.S.C.)’s
                                                                   headquarters                   share ownership
                                  Rights                           and launching                  increased to
                                  Issue I.                         of new logo.                   82.59%.




28 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights     Reports to Stakeholders     Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




              Earned                               > Rights Issue VI.                      Issued Sustainable                          > Rights
              “idAA” rating                        > Qatar National Bank                   Bonds I Phase III of                           Issue VII.
              with “Stable”                           (Q.P.S.C.)'s share                   Rp448 billion.                              > Qatar
              outlook from                            ownership increased                                                                 National
              Pefindo.                                to 92.48%.                                                                          Bank
                                                   > Received “idAA”                                                                      (Q.P.S.C.)'s
                                                      rating with “Stable”                                                                share
                                                      outlook by Pefindo.                                                                 ownership
                                                                                                                                          increased
                                                   > Received accolade
                                                                                                                                          to 95.63%.
                                                      as Perception Bank
                                                      in Administration
                                                      of State Revenue
                                                      Through the 2 nd
                                                      Generation State
                                                      Revenue Module.




    2016               2017                   2018                2019           2020                    2022                 2023




                                                                     > Relocation of
                                                                         headquarters
                                                                         in Jakarta.
                                                                     > Received
                                                                         “idAAA” rating
                                                                         with “Stable”
                                                                         outlook by Pefindo.
                                                                     > Received
                                                                         “AAA(idn)” rating                        Collaborated
                                                                         with “Stable”                            with Indosat Ooredoo
                                                                         outlook by                               Hutchison to launch
                                                                         Fitch Ratings.                           UCan, the first
                                 > Rights Issue V.                   > Issued Sustainable                         digital lending
                                 > Qatar National                        Bonds I Phase I                          product in Indonesia
                                    Bank (Q.P.S.C.)’s                    of Rp100 billion                         resulting from
                                    share ownership                      and Sustainable                          partnership between
                                    increased to                         Bonds I Phase II                         a bank and a telco
                                    90.96%.                              of Rp452 billion.                        company.




                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 29
Page 32
Vision, Mission, and QNB Values




                         Gazing into the future with hopeful anticipation, the Bank stands ready to forge partnerships that realise
                                              the dreams and financial successes of each of its valued clients.




   Vision

   We will be:


                         An icon* in Indonesia that grows together with our stakeholders.




                         A top-tier bank in terms of financial performance in Indonesia.


   * In terms of technology-enabled convenience and process simplicity.

   The Bank’s Vision was ratified via BoD Decree No. 003/SK-Direksi/II/2017 dated 16 February 2017.




   Mission


                         We provide outstanding technology-enabled banking products and services supported
                         by an international network that delivers enhanced stakeholder value to be a financial
                         institution of choice.




30 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders   Company Profile        Management Discussion and Analysis          Corporate Governance         Sustainability




QNB Values
                                                              Passion for
                                            1                 Excellence
                                                                                                            2
                  with In nalism
                            rity




                                                                                                                    Inn
                         teg




                                                                                                                       ova
                         io
                  Profess




                                                                                                                          tive
                   5

                                                                                                                          3

                                         s                                                             t
                                    Re




                                                                                                        ic

                                    it i p o n                                                    g is
                                 C




                                        ze s i b                                                r
                                           n s le                                           y ne am
                                              h ip                                         S Te

                                                               4




In 2015, the Bank renewed its QNB Values and Service Spirit through BoD Decree No. 074/SK-Direksi/VI/2015 dated 1 June 2015.
The QNB Values are as follows:



   1. Passion for Excellence
      We strive to go the extra mile to achieve the highest professional standard.
   2. Innovative
      We shall be adaptive to change and value creative thinking to continuously attain superior benefits.
   3. Synergistic Team
      We shall effectively harness our strength to achieve our common goals with pride.
   4. Responsible Citizenship
      We shall respect with dignity and be concerned for the well-being of people and environment in which we operate.
   5. Professionalism with Integrity
      We shall continuously develop our competencies and behavior to reliably deliver what is expected from us. We shall
      be honest, fair, and accountable.




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 31
Page 34
Line of Business
                                                                    f. Placing funds with, borrowing funds from, or lending
                                                                       funds to other banks using paper, telecommunications
                                                                       facilities and bearer negotiable instruments, cheques or
                                                                       other means.
                                                                    g. Receiving payments of claims in respect of commercial
                                                                       papers and conducting calculations with or between
                                                                       third parties.
                                                                    h. Providing place for storage of valuable items and papers.
                                                                    i. Providing custodian services to other parties on a
                                                                       contractual basis.
                                                                    j. Investing in bonds and securities, both registered and
                                                                       unregistered on the stock exchange.
                                                                    k. Providing financing and/or engaging in other activities
                                                                       according to the sharia principle, pursuant to the
                                                                       provisions stipulated by Bank Indonesia.
                                                                    l. Engaging in factoring activities, credit card business and
                                                                       trusteeship services.
                                                                    m. Issuing letters of credit in various forms and bank
                                                                       guarantees.
                                                                    n. Engaging in foreign exchange activities.
                                                                    o. Engaging in capital investment activities in banks or
                                                                       other companies in the financial sector, such as
                                                                       financing, fund management, leasing, venture capital,
                                                                       securities company, insurance, clearing house and
                                                                       guarantee as well as clearing settlement and
      The Bank stands poised to engage with discerning clients,        depository institution.
      offering unparalleled service to steward their far-reaching
                        financial aspirations.
                                                                    p. Engaging in temporary capital investment activities in
                                                                       dealing with non-performing loans or financing, under
                                                                       sharia and non-sharia principles.
                                                                    q. Acting as founder and manager of pension funds.
Pursuant to Article 3 of the Bank’s Articles of                     r. Purchasing collateral, both entirely or partly, through
Association, the Bank’s business purpose and activities are            or outside an auction, in the event that the debtor fails
to conduct operations in the banking sector in accordance              to fulfil its obligation to the Bank, provided that the
with the prevailing regulations.                                       purchase must be immediately saleable.
In order to achieve its purpose, the Bank may conduct its           s. Engaging in other activities that banks customarily
main business activities, as follows:                                  engage in, so far as they do not violate the provisions of
a. Receiving funds from public in the form of deposits                 the legislations.
   including demand deposits, time deposits, certificates of        Aside from the main activities as stipulated above,
   deposit, savings, and/or other similar forms.                    the Bank may perform additional business activities as long
b. Extending loans, including long-term, medium-term or             as they do not violate the provisions of the prevailing laws
   short-term loans or loans in any other forms commonly            and regulations, specifically in relation to Banking.
   granted in the banking sector.                                   In 2023, the Bank carried out retail and corporate banking
c. Issuing promissory notes.                                        activities according to the abovementioned stipulations.
d. Purchasing, selling, or guaranteeing at its own risk and
   for the benefit of and under the instruction of its
   customers, the following:
    > Negotiable instruments, including negotiable
      instruments that are accepted by banks whose
      periods of terms are no longer than the normal
      practice in the trading of such negotiable
      instruments;
    > Acknowledgements of indebtedness and other trade
      papers whose terms are no longer than normal
      practice in the trading of such papers;
    > State Treasury Certificates and Government
      Guarantees;
    > Bank Indonesia Certificates;
    > Bonds;
    > Fixed-term trade papers;
    > Other fixed term commercial papers
      instruments.
e. Transferring funds for the Bank’s own interests and for
   the interests of its customers.


32 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders     Company Profile       Management Discussion and Analysis          Corporate Governance         Sustainability




Products and Services




                   With a panoply of banking products and services on offer, the Bank is empowering every customer to prepare
                                              a robust financial plan in line with their preferences.




Saving Products                                                               Premium Checking Account
                                                                              Checking account with premium features that provide ease
Savings Account                                                               of transaction to support businesses and offers higher
Savings account provides easy and convenient banking                          interest rates than regular checking accounts.
transactions for customers.                                                   Advantages
Advantages                                                                    > Higher interest rates than other checking accounts.
> Affordable initial deposit.                                                 > Zero fees for RTGS, LLG, and clearing transactions,
> Zero fees for balance inquiry, cash withdrawal, and                           terms and conditions apply.
  overbooking transfer across all ATM Bersama and
  PRIMA networks.                                                             Switching Account
> Online banking services through QNB Indonesia Mobile                        For safe and easy investing featuring six currencies within
  Banking & QNB Online Banking.                                               one account.

Premium Savings Account                                                       Advantages

Savings account with higher interest rates than regular                       > Six currency options: USD, SGD, AUD, GBP, JPY and EUR.
savings accounts.                                                             > Competitive exchange rates providing customers with
                                                                                more favourable rates.
Advantages                                                                    > Easy monitoring of fund through monthly
> Higher interest rates than regular savings accounts.                          e-statement.
> Zero fees for RTGS, LLG, and clearing transactions,
  terms and conditions apply.                                                 Global Account
> Zero fees for cash withdrawal across all QNB Indonesia                      Provides customers with ease in investing safely in foreign
  ATMs, ATM Bersama and PRIMA networks.                                       exchange.
> Free monthly administration fee, terms and conditions                       Advantages
  apply.
> Online banking services through QNB Indonesia Mobile                        > Eight currency options: USD, SGD, AUD, HKD, GBP, JPY,
  Banking & QNB Online Banking.                                                 EUR, and QAR.
                                                                              > Relatively affordable initial deposit.
Checking Account                                                              > Competitive exchange rates providing customers with
Created for your ease of business transactions.                                 more favourable rates.
                                                                              > Easy monitoring of fund through monthly
Advantages                                                                      e-statement.
Checking account in Rupiah allows customers to withdraw
cash using cashier cheques or bank drafts.

                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 33
Page 36
Products and Services (Continued)
Global Checking Account                                            Letter of Credit (L/C)
Foreign currency checking account that provides ease in            Comprehensive L/C solutions and services from export
foreign currency transactions.                                      L/C collections and import L/C issuances to outward and
Advantages                                                         inward documentary collection for the purchase and sale
                                                                   of overseas goods and services to and from Indonesia’s
> Eight currency options: USD, SGD, AUD, HKD, GBP, JPY             custom area.
  EUR, and QAR.
> Competitive exchange rates providing customers                   Advantage
  with more favourable rates.                                      Safe and secure transactions for clients with export-import
> Available for individuals and corporations.                      activities. For import transactions in particular, payment
> Reports in account statements easily monitored by                will only be made to the beneficiary after all of the
  customer.                                                        accepted documents have met the previously-agreed
                                                                   requirements.
Forex
Foreign exchange transactions with competitive exchange            Supply Chain Financing
rates.                                                             A set of solutions that optimises cash flow by lengthening
Advantages                                                         Buyers’ payment terms to their Sellers while providing the
                                                                   option for Sellers to get paid early.
> Available in eight foreign currencies.
> Exact, competitive, and real-time prices.                        Advantage
> Products in foreign exchange investment.                         Supply Chain Financing allows a Seller to sell its invoices
                                                                   to the Bank at a discount as soon as the invoices are
                                                                   approved by the Buyer to be paid later and by the Seller to
Loan Products                                                      secure its money earlier, resulting in stronger buyer–seller
                                                                   relationships.
Comprehensive Corporate & Institutional Banking (CIB)
solutions for investment and working capital financing,            NPG Debit Card QNB Indonesia (GPN & VISA
trade transactions, integrated cash management, time               Contactless)
deposit, and foreign exchange transactions.
                                                                   Advantages
Advantage
                                                                   > Payment for retail transactions in any EDC terminal on
Products and services designed to meet the needs of large            the PRIMA and ATM Bersama network.
and mid-size companies, which includes, local corporates,          > Equipped with the National Indonesian Standard Chip
multi-national companies, State-Owned Enterprises, as                Card Specification (NISCCS), providing a safer and more
well as financial institutions.                                      secure environment for customer data.
                                                                   > Part of the National Payment Gateway (NPG)
Working Capital Loan and Trade Financing                             programme that offers standardized security features,
Short-term trade and non-trade financing facility with               allowing customers to conduct transactions securely in
tenor of up to one year.                                             all payment channels in Indonesia.
Advantage                                                          > No minimum amount for retail transaction payments on
                                                                     EDCs with PRIMA, ATM Bersama, and VISA logos, and no
Tailored and flexible requirements for customers in need of          cash withdrawal fees on PRIMA and ATM Bersama ATM
working capital, including but not limited to invoice                networks across Indonesia.
financing, post-import financing, supply chain financing,
bills discounting, etc.                                            UCan
                                                                   A digital loan product that caters to customers’ needs in a
Investment Credit                                                  simple, fast, and convenient way. Through collaboration of
Medium-term and long-term financing facilities.                    QNB Indonesia with Indosat Ooredoo Hutchison, a leading
Advantage                                                          telecommunication operator in Indonesia, and a leading
                                                                   information technology company and a world-class fintech
Can be used to finance the acquisition of capital goods            partner, UCan offers cash advance products to customers
intended for rehabilitation, modernisation, expansion, or          in a seamless all-digital process, from account opening to
establishment of new projects as well as refinancing.              cash withdrawal.
Bank Guarantees and Standby Letter of Credit (SBLC)                Advantages
Guarantee issued by the Bank to provide assurance of the           > Reliable service with convenient payment.
applicant’s capability to fulfil contractual obligations.          > Instant application processing and disbursement.
Advantages                                                         > Bank-level security to protect customer personal data and
                                                                     privacy.
Specifically designed in support of the applicant’s business       > Competitive rates and exclusive discounts.
activities to meet the requirements of a project or transaction.   > New subscriber data quota rewards.
Types of bank guarantees include bid bond, performance
bond, advance payment bond, maintenance, etc.




34 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 37
2023 Highlights   Reports to Stakeholders    Company Profile       Management Discussion and Analysis          Corporate Governance         Sustainability




                      QNB Indonesia's Wealth Management products prepare customers from all layers of society to build
                              their assets with greater assurance thanks to the advice of our competent staff.




Wealth Management Products                                                   First LifePasti
                                                                             Traditional life insurance product with regular
Bancassurance                                                                premium payment with life protection and critical illness
Allianz Assetlink Optima                                                     benefit and cash benefit that will be received at the end of
                                                                             the insurance policy period, as long as the policy is active
Life insurance product with a single premium payment that
                                                                             and the insured is still alive until the end of the
provides Death Benefit, Death Benefit Due to Accident, as
                                                                             insurance period.
well as Investment Benefits with a choice of Subfunds that
suit customer needs.                                                         Advantages
Advantages                                                                   > Natural death benefit.
                                                                             > Death benefit caused by accident.
> Investment benefit.
                                                                             > Critical illness benefit.
> Single Premium Unit Link with life Insurance benefit.
                                                                             > Contract termination benefit.
Allianz Wealthlink Protection Life
                                                                             QNB Indonesia collaborates under a reference business
Life insurance product with regular premium payments                         model in offering bancassurance products with
that provides protection solutions along with the potential                  PT Allianz Life Indonesia.
of long-term investment asset development for your future
financial plans remain protected from various life risks.                    Mutual Fund
Advantages                                                                   Open-End Mutual Funds
> Complete benefit.                                                          The best investment managers are managing a broad
> Investment benefit.                                                        selection of products that provide optimum investment
                                                                             returns in line with the customer’s risk profile, with their
Allianz Wealthlink Prestige Life II
                                                                             financial objectives in mind. The investment managers are
Unit link life insurance product with regular premium                        as follows.
payments that provides solutions in efficient protection for
                                                                             > PT Batavia Prosperindo Aset Manajemen
optimal investment potential throughout your future
                                                                             > PT FWD Asset Management1
financial planning.
                                                                             > PT Mandiri Manajemen Investasi
Advantages                                                                   > PT Manulife Aset Manajemen Indonesia
> Complete benefit.                                                          > PT Trimegah Asset Management
> Investment benefit.                                                        > PT Syailendra Capital
                                                                             1
                                                                                 Product liquidated on 13 October 2023




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 35
Page 38
Products and Services (Continued)
                                                                       Advantages
                                                                       > Coupons paid regularly.
                                                                       > Guaranteed by the Indonesian Government.
                                                                       > Potential capital gain.
                                                                       QNB Indonesia participates in offering e-SBN through the
                                                                       e-SBN Sub-Selling Agent agreement with PT Trimegah
                                                                       Sekuritas Tbk.



                                                                       Services
                                                                       ATM
                                                                       Real-time and online electronic banking services.
                                                                       Advantages
                                                                       > Ease of doing financial and non-financial transactions
                                                                         for all customers across 11 QNB Indonesia ATMs as well
                                                                         as ATM Bersama/PRIMA networks and international
                                                                         network from Visa.
                                                                       > QNB ATMs are integrated to the National Payment
                                                                         Gateway (NPG) network.
                                                                       Remittance
                                                                       Foreign currency fund transfer service among banks.
                                                                       Advantage
   The Bank's clientele can enjoy the luxury of our banking services
                                                                       Can be done to anywhere in the world, quickly and securely,
        anytime and anywhere, with just the touch of a finger.
                                                                       in various foreign currencies with competitive telegraph
                                                                       exchange rates and fees.
                                                                       RTGS/LLG/Clearing/BI-FAST
Advantages                                                             Rupiah fund transfer service among banks.
> High liquidity investment products.                                  Advantage
> A variety of quality products with different risk                    Can be done quickly and securely with competitive prices.
  levels.
> Ease of subscription and redemption of mutual                        QNB First
  fund units through the branches of QNB Indonesia.                    Banking services for priority customers.
> Consolidated statements to view and monitor
                                                                       Advantages
  all transactions and investment returns.
                                                                       > Privileges to enjoy a comfortable QNB First Lounge
Closed-End Mutual Funds
                                                                         service that offers top-end facilities.
Funds offering competitive investment returns paid                     > Additional travel privileges, such as airport transfer, and
regularly up to maturity date. Principal investment                      access to domestic airport lounges, as well as festive
is protected 100% up to maturity date.                                   hampers and birthday treats.
Advantages                                                             > Free transaction fee through mobile banking and internet
                                                                         banking.
> Competitive investment returns.                                      > Free medical check up to selected QNB First Customers
> Coupon paid regularly.                                                 with Prodia.
> Fixed return of investment.
> Principal investment sum returned in full upon maturity              SDB
  date.                                                                Safety deposit box rental facilities for storing goods,
> Consolidated statements to view and monitor                          valuables, or important documents.
  all transactions and investment returns.
                                                                       Advantage
Electronic Retail Government Bonds (e-SBN)                             Secure and protected deposit box with competitive prices.
Bonds issued by the Indonesian Government dedicated for                Virtual Account Services
retail/individual investors, and offered on the primary
                                                                       Provide ease in collections with an accurate reconciliation
market through online order mechanism.
                                                                       process.




36 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 39
2023 Highlights   Reports to Stakeholders   Company Profile    Management Discussion and Analysis          Corporate Governance         Sustainability




FX Today                                                                 Advantages
Purchase or sale of foreign exchange with rates                          > Smartphone application with easy-to-use features.
determined at time of transaction, as well as payment                    > QNB Indonesia Mobile Banking allows customers’ daily
and delivery that take place the same day as                               banking transactions to be simpler, swift, secure and
transaction date.                                                          can be done anytime and anywhere.
Advantage                                                                > Offer variety services to manage daily transactions online,
                                                                           such as foreign currency account opening for existing
Services with accurate and competitive rates.                              customers and time deposit opening, bill payments,
FX Tomorrow                                                                e-Wallet top ups, forex transactions, Life Rewards, QRIS,
                                                                           e-statement, and other financial/non-financial
Purchase or sale of foreign exchange with rates
                                                                           transactions.
determined at the time of transaction, with payment
and delivery on the next working day after the                           Corporate Internet Banking
transaction date.
                                                                         Internet banking service designed specifically for corporate
Advantages                                                               customers.
> Services with competitive rates.                                       Advantages
> Customer foreign exchange rate hedging allows customers
  to hedge their foreign exchange risk exposure to                       > Ability to make banking transactions anywhere and
  fluctuations in exchange rates.                                          anytime.
                                                                         > Ability to self-customise daily transaction limit and
FX Spot                                                                    number of registered users.
Purchase or sale of foreign exchange with rates                          > Flexible authorization, as simple or tiered matrix.
determined at the time of transaction, and payment                       > Token to guarantee secure transactions and
and delivery that take place two days after the                            SSL-protected web pages.
transaction date.
                                                                         QNB Online Banking
Advantages
                                                                         Web-based internet banking service for individual
> Services with competitive rates.                                       customers.
> Customer foreign exchange rate hedging allows customers
  to hedge their foreign exchange risk exposure to                       Advantages
  fluctuations in exchange rates.                                        > Daily transactions can be performed anywhere at all
FX Forward                                                                 times from computer, laptop, smartphone and tablet.
                                                                         > A variety of banking services to manage daily transactions
Transaction based on an agreement to exchange a certain                    online, such as time deposit opening, bill payments,
amount of foreign currency at a pre-agreed rate of                         e-statement, and other financial/non-financial
exchange and on a certain future date.                                     transactions.
Advantages                                                               > Manageable financial control with easy-to-use menu.
> Services with competitive rates.                                       QNB Indonesia Life Rewards
> Customer foreign exchange rate hedging allows customers                A reward point program from QNB Indonesia which enables
  to hedge their foreign exchange risk exposure to                       customers to earn reward points from various banking
  fluctuations in exchange rates.                                        transactions specified by the Bank.
FX Swap                                                                  The points can be redeemed with various rewards on
Purchase or sale of foreign exchange of similar principal                QNB Indonesia Mobile Banking application on
value with rates determined at the time of transaction, with             the customer’s own device.
payment and delivery on two different days, using the                    Advantages
agreed swap price.                                                       > All You Can Earn point reward system integrated across
Advantages                                                                 seven retail products.
> Services with competitive rates.                                       > Attractive merchant partners across different reward
> Customer foreign exchange rate hedging allows customers                  categories.
  to hedge their foreign exchange risk exposure to                       > Digitally processed reward redemption.
  fluctuations in exchange rates.                                        Cash Pick Up & Delivery
                                                                         Cash delivery service for CIB customers to facilitate the
                                                                         customers’ cash management.
Other Services
                                                                         Advantages
QNB Indonesia Mobile Banking                                             > Convenient use of service.
One mobile application for all transactions.                             > Safe and insured.




                                                                                                    PT Bank QNB Indonesia Tbk Annual Report 2023 — 37
Page 40
Organisation Structure
                                                                                                              Board of
                                                                                                           Commissioners




                                                                                                          President Director
                                                                                     Risk Oversight
                                                                                      Committee
                                                                                                          Haryanto Suganda




                                                                Corporate &
                                Treasury & Financial           Institutional
                                Institution Director         Banking Director

                                 Nicolas Alix Groene        Nicolas Alix Groene
                                    (Nick Groene)              (Nick Groene)
                                                                 (Acting)*


                                                                                        Chief Risk
       Head of Retail                                                                                         Chief Credit
                                                                                         Officer
         Banking                                                                                                Officer
                                                                                     Haryuninglistia
     Nancy Prasetijo*                                                                                         Lia Indriani
                                                                                       Setiantini
        (Acting)                                                                                               (Acting)
                                                                                        (Acting)




                                           Financial                                                            Head of
            Head of                       Institution                Head of
                                                                                         Head of               Wholesale
          Network &                        Specialist           Corporate Banking
                                                                                     Operational Risk        Banking Credit
          Distribution
                                                                                                                Review
                                         Kenny Putri L            Dennis Tanu
                                                                                      Estrelita Lestari
            Vacant                                                  Utomo
                                         Latifa Aulia K                                                     Bambang Harjono




                                         Interbank &                                      Head of
                                        Asset Liabilities            Head of
                                                                                       IT Security &             Head of
       Head of QNB First                 Management            Transaction Banking
                                                                                     Risk Management      Credit Administration
                                                               & Wholesale Funding
         Reza Pradikta                    Gregorius S                                 Goeroeh Andhi           Sry Ekawaty
                                                                     Vacant
                                        Theodora Tetty                                   Djaja L.




                                        Treasury Sales
           Head of                                                   Head of
                                                                                                                 Head of
        Retail Products                                         Business Strategy      Head of Legal
                                          Megalany S                                                         Credit Remedial
         Management                                                & Support
                                            Imelda                                   Niken Ratmitasari
                                                                                                              Lia Indriani
            Ronald                                                   Vacant
                                           Julianti K




                                                                                                                Head of
             Head of                                                 Head of
                                                                                                             Credit Policies
          E – Channels                                            Credit Analyst
                                                                                                             & Governance
      Inne Eliza Indriantie                                     Novia Valencia W
                                                                                                                 Vacant




*) Double-hatting


38 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 41
2023 Highlights         Reports to Stakeholders         Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                             Remuneration &
         Committees                                                                                            Audit Committee
                                           Nomination Committee




                                               Operations
         Finance                                                                          Compliance
                                              & Technology
         Director                                                                          Director
                                                 Director
      Soemenggrie                                                                        Windiartono
                                                  Haryanto
       Jongkamto                                                                          Tabingin
                                                  Suganda*




             Head of                                                                            Head of
                                                     Head of
           Budgeting,                                                                         Regulatory                           Chief Auditor
                                                  Human Resources
          Planning and                                                                        Compliance
              MIS                                                                                                                  Romi Yulianto
                                                   Carina Hastari
                                                                                          Muhammad Habib                             Santoso
                                                     Tanubrata
             Vacant                                                                         Ubaidillah




                                                      Head of                                   Head of
           Financial                                 Corporate                              Financial Crime
        Accountant Head                           Communications                              Compliance

          Sri Wahyuni                              Teresa Ardania                            Inggrid Ratna                   BoC Committee
                                                       Gunadi                                  Hindiyani
                                                                                                                             1. Audit Committee
                                                                                                                             2. Risk Oversight Committee
                                                                                                                             3. Remuneration & Nomination
                                                                                                                                 Committee
                                                      Head of                                  Head of
        Account Payable
                                                     Operations                               Corporate                      BoD Committee
          & Tax Head
                                                                                              Secretary
                                                                                                                             1. Asset & Liability Committee
                                                       Charly
         Nuviana Dewi                                                                                                            (ALCO)
                                                    Ferdinandus                             Indah Mathilda
                                                                                                                             2. HR Committee
                                                                                                                             3. Credit Committee
                                                                                                                             4. Credit Remedial Committee
                                                                                                                             5. Risk Management
        Head of Strategy                              Head of                                                                    Committee
          Execution                               General Services                                                           6. New Products and Activities
                                                                                                                                 Committee
          Ibnu Gutomo                             Denny Soedharmo
                                                                                                                             7. Operational Risk Committee
                                                                                                                             8. Fraud Oversight Committee
                                                                                                                             9. Purchasing Committee
                                                                                                                             10. Early Alert Committee
                                                      Head of                                                                11. Credit Policy Committee
                                                    Information                                                              12. AML CFT Committee
                                                    Technology                                                               13. IT Committee
                                                                                                                             14. UCan Product Committe
                                                   David Liswandi
                                                                                                                             15. Governance Risk
                                                                                                                                 and Compliance Committee


                                                                                                               PT Bank QNB Indonesia Tbk Annual Report 2023 — 39
Page 42
Branch Offices
Branch

                              Mediterania Gajah Mada
Jakarta – Gajah               Tower Alpha No. TUD 16 Lt. UG                                        Jl. Pemuda No. 5
                                                                     Medan – Pemuda
Mada                          Jl. Gajah Mada No. 174                                               Medan 20151
                              Jakarta 11130

                              Revenue Tower District 8
                              Ground Floor                                                         Jl. Raya Darmo No. 108
Jakarta – SCBD                                                       Surabaya – Darmo
                              Jl. Jenderal Sudirman Kav. 52–53                                     Surabaya 60264
                              Jakarta 12190



                              Jl. Ir. H. Juanda No. 11 (Dago)        Semarang – Gajah              Jl. Gajah Mada No. 101B
Bandung – Dago
                              Bandung 40116                          Mada                          Semarang 50134




Sub-Branch

                              Ruko Sentra Bisnis Pluit                                             Komplek Cemara Asri
                                                                     Medan – Cemara                Jl. Cemara Boulevard H1-91,
Jakarta – Pluit               Jl. Pluit Sakti Raya No. 28 Blok A12   Asri Centre Point             Medan Estate
                              Jakarta 14450                                                        Deli Serdang 20371




Shareholders
Shareholding Structure

as at 1 January 2023                                                 as at 31 December 2023


                        Government of Qatar                                                Government of Qatar
                              100%                                                               100%




 Qatar Investment Authority                           Public          Qatar Investment Authority                        Public
            50%                                        50%                       50%                                     50%




     Qatar National Bank                                                 Qatar National Bank
                                                    Public <5%                                                        Public <5%
          (Q.P.S.C.)                                                          (Q.P.S.C.)
                                                      7.52%                                                             4.37%
           92.48%                                                              95.63%




                    PT Bank QNB Indonesia Tbk                                          PT Bank QNB Indonesia Tbk




40 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights          Reports to Stakeholders            Company Profile             Management Discussion and Analysis          Corporate Governance         Sustainability




   Shareholders Composition                                                                              4.37%




                                                                                                                             as at 31 December 2023




          Qatar National Bank (Q.P.S.C.) –––––––––––––––––––––––––––––––––––––– 95.63%

          Public <5% –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– 4.37%
                                                                                                                                                             95.63%




Ownership of Shares by Board of Commissioners and Board of Directors

                                                                                     Ownership at Beginning of Year                    Ownership at End of Year
                  Name                                  Position                                        (%)                                          (%)

                                                                                          Direct              Indirect                Direct               Indirect

 Fatma Abdulla Al-Suwaidi                 President Commissioner                              0                   0                       0                     0

 Khalid Ahmed Al-Sada                     Commissioner                                        0                   0                       0                     0

 Djoko Sarwono                            Independent Commissioner                            0                   0                       0                     0

 Muhammad Anas Malla                      Independent Commissioner                            0                   0                       0                     0

 Haryanto Suganda                         President Director                                  0                   0                       0                     0

 Windiartono Tabingin                     Director                                            0                   0                       0                     0

 Nicolas Alix Groene
                                          Director                                            0                   0                       0                     0
 (Nick Groene)

 Soemenggrie Jongkamto                    Director                                            0                   0                       0                     0



Distribution of the Company’s Shareholders by Investor Category (as at 31 December 2023)

   No                            Category                                               Shares Owned                                          Percentage

    1        Domestic Individual Investors                                                1,097,270,327                                           3.12

    2        Domestic Institutional Investors                                               388,479,247                                           1.10

    3        Foreign Individual Investors                                                         131,694                                         0.00

    4        Foreign Institutional Investors                                            33,672,167,097                                          95.77

 Total                                                                                 35,158,048,365                                          100.00



Majority and Controlling Shareholders

As stated in the diagram above, the majority and controlling shareholder of the Bank is the Qatar National Bank (Q.P.S.C.), an
international banking company headquartered in Doha, Qatar.
The ultimate beneficiary owner of the Bank is the Government of Qatar.



                                                                                                                             PT Bank QNB Indonesia Tbk Annual Report 2023 — 41
Page 44
Board of Directors Profile
                                                              Haryanto Suganda

                                                              > President Director




Indonesian Citizen, 52 years old. Domiciled in Jakarta, Indonesia.
Mr. Haryanto Suganda earned his Bachelor of Business Administration (1994) and Master of Business Administration (1995),
both from University of Portland, Oregon, USA.
Mr. Haryanto Suganda was appointed as President Director of the Bank based on the EGMS Resolution dated 23 December 2021,
and received the effective letter from OJK on 22 April 2022, to serve until the 2024 AGMS
Mr. Haryanto Suganda has more than 28 years of experience in banking industry. Prior to joining PT Bank QNB Indonesia Tbk as
Advisor (February–April 2022), Mr. Haryanto Suganda held several leadership positions in Standard Chartered Bank (2018–2022)
with his last position as Managing Director – Head of CCIB (Corporate, Commercial and Institutional Banking) Client Coverage.
Prior to that, Mr. Haryanto Suganda worked for HSBC (2004–2018) with his last position there as Director, Head of Coverage,
with the responsibility to grow the business across sectors within Global Banking.
Mr. Haryanto Suganda has been appointed as Chairman of several committees under the Board of Directors: Asset & Liability
Committee, Fraud Oversight Committee, Human Resources Committee, New Products & Activities Committee, Credit Policy
Committee, UCan Product Committee, and AML-CFT Committee. Mr. Haryanto Suganda is also a member of the Purchasing
Committee, Credit Committee, Credit Remedial Committee, and Risk Management Committee.
In 2023, Mr. Haryanto Suganda attended the following competence development programmes:
> Management Engagement
> Sanction Awareness
> Job Evaluation Kick Off and Workshop
> Risk Management Certification Refreshment Session for Executives Level 7
> APU-PPT Refreshment Programme
> Anti-Fraud, Anti-Bribery & Corruption
> Cyber Awareness
> Audit Module
> In-house Refreshment Level 6 & Level 7 (Risk Management Certification Refreshment Session for Executives)
Mr. Haryanto Suganda has no affiliate relationship with other members of the BoD, members of the BoC, and the controlling
shareholders of the Bank.




42 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                                              Windiartono Tabingin

                                                              > Compliance Director




Indonesian Citizen, 62 years old. Domiciled in Jakarta, Indonesia.
Mr. Windiartono Tabingin earned his bachelor’s degree from Jenderal Soedirman University, Purwokerto (1984), and a graduate
degree of Finance and HRM & Organisational Behaviour from Rensselaer Polytechnic Institute (RPI), Troy, New York, USA (1994).
Mr. Windiartono Tabingin was first appointed as Director of the Bank based on the EGMS resolution dated 29 November 2012,
and was declared effective by Bank Indonesia on 25 February 2013. Mr. Windiartono Tabingin was then reappointed as Director
based on AGMS resolution on 19 August 2021, to serve until the 2024 AGMS.
Mr. Windiartono Tabingin has been appointed as member of several committees under the BoD, namely: Human Resources Committee,
New Products & Activities Committee, Operational Risk Committee, Risk Management Committee, Alternate Chairman and
member of Fraud Oversight Committee, and Chairman of AML-CFT Committee.
Mr. Windiartono Tabingin has more than 37 years of extensive banking experience in Indonesia. Mr. Windiartono Tabingin started
his career at Bank Rakyat Indonesia (Persero) (1986–2012), and was subsequently appointed as Commissioner of PT Asuransi
Jiwa Bringin Jiwa Sejahtera (2011–2012).
Mr. Windiartono Tabingin is also active in various associations in the Indonesian Banking industry, such as BARa as
Secretary-General, the IBI as Member of the Board of Social Affairs and Sports (2015–2019), the association of the Compliance
Directors’ Communication Forum (FKDKP) as Deputy Secretary General and the Perbanas as member of Legal and ESG.
Currently Mr. Windiartono Tabingin is a certified assessor at the Professional Certification National Board (BNSP).
Mr. Windiartono is also certified in competency for Risk Management Level 7 and competency for Compliance Level 3.
In 2023, Mr. Windiartono Tabingin attended the following competence development programmes:
> “Prevailing Overturbulance Macro Day” by Mandiri Investment
> “Digitalisation of Risk Management” by BARa Risk Forum
> “Workshop Metodology Assesment Risk Management” by LSPP
> “Climate Risk Stress Testing” by BARa Risk Forum
> “Implementation of Personal Data Protection Laws & Challenges to their Implementation” by FKDKP
> “ERM & Cyber Security: How to Mitigate & Protect” by BARa Risk Forum
> “Asset Liability Management: Creating Value in a Fast Changing Banking World” by BARa Risk Forum
> “Sound Risk Management: Framework, Implementation and Oversight” by BARa Risk Forum
> In-house Refreshment Level 6 & Level 7 (Risk Management Certification Refreshment Session for Executives)
Mr. Windiartono Tabingin has no affiliate relationship with other members of the BoD, members of the BoC, and the controlling
shareholders of the Bank.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 43
Page 46
Board of Directors Profile (Continued)
                                                                 Nicolas Alix Groene (Nick Groene)

                                                                 > Treasury & Financial Institution Director




French citizen, 48 years old. Domiciled in Jakarta, Indonesia.
Mr. Nick Groene is a Harvard Business School alumnus, earned an MBA (Master of Business and Administration) from
The University of Chicago Booth School of Business, a Master’s degree from SKEMA Business School, France, and an MSc in
Economics and Finance from Paris University.
Mr. Nick Groene joined the Bank in 2020 as GM Treasury and was appointed as Director of the Bank based on the EGMS
resolution dated 17 December 2020, and was declared effective by OJK on 31 March 2021. Mr. Nick Groene was then reappointed
as Director based on AGMS resolution on 19 August 2021, to serve until the 2024 AGMS.
Mr. Nick Groene has been appointed as member of several committees under the BoD, namely: Asset & Liability Committee, New
Products & Activities Committee, Risk Management Committee, IT Steering Committee, UCan Product Committee, Credit
Committee, Credit Policy Committee, Early Alert Committee and Human Resources Committee.
Mr. Nick Groene has more than 24 years of experience in Financial Markets, Asset & Liability Management, Treasury and Finance.
Previously Mr. Nick Groene worked with QNB Group in Qatar for 10 years as Head of International Treasury, where he managed the
Treasury functions of QNB branches and affiliated companies across 33 countries (in Asia Pacific, Middle East, Europe and across
Africa). Mr. Nick Groene also has various working experiences with top tier 1 banks and financial institutions in Japan,
Luxembourg, UK, Iceland, and UAE.
In 2023, Mr. Nick Groene attended the following competence development programmes:
> Refreshment of Risk Management Certificate Level 5 by RDS Consultant
> Refreshment of Treasury Certification Level Advanced by RDS Consultant
> Job Evaluation Training 2023
> “Inflation Recession and Political Instability” by Chicago Booth
> “Inflation, Interest Rates and Risks Facing Asian Economies” by Chicago Booth Business School
> “Global Instability, Economic uncertainty and what lies Ahead” by Chicago Booth Business School
> “How AI will transform EMEA Labour Market” by Chicago Booth Business School
> “Business And Global Climate Politics” by Harvard Business School
> “Carbon Technocracy: Energy Regimes in Modern East Asia” by Harvard Business School
> “Business and the State in Authoritarian Asia” by Harvard Business School
Mr. Nick Groene has no affiliate relationship with other members of the BoD, members of the BoC, and the controlling shareholders
of the Bank.




44 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 47
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                                              Soemenggrie Jongkamto

                                                              > Finance Director




Indonesian citizen, 60 years old. Domiciled in Jakarta, Indonesia.
Mr. Soemenggrie Jongkamto earned his bachelor’s degree in Economics from Trisakti University, Jakarta (1988).
Mr. Soemenggrie Jongkamto was appointed as Director of the Bank based on the AGMS resolution dated 19 August 2021 and was
declared effective by OJK on 18 November 2021, to serve until the 2024 AGMS.
Mr. Soemenggrie Jongkamto has been appointed as member of several committees under the BoD, namely: Asset & Liability
Committee, Human Resources Committee, New Products & Activities Committee, Purchasing Committee, Information
Technology Steering Committee, Operational Risk Committee, and Risk Management Committee.
Mr. Soemenggrie Jongkamto has more than 31 years of extensive banking experience in Indonesia, starting his career at Bank of
America (1991–1995), then continued at JP Morgan (until 2007), at ABN Amro Bank (until 2010), and then at the Royal Bank of
Scotland (RBS) (until 2016). Before joining QNB Indonesia, Mr. Soemenggrie Jongkamto was anchored at Rabobank (until 2020).
In 2023, Mr. Soemenggrie Jongkamto attended the following competence development programmes:
> APU-PPT Refreshment
> Internal Audit Module
> Sanctions Awareness
> Anti-Fraud, Anti-Bribery & Corruption
> In-house Refreshment Level 6 & Level 7 (Risk Management Certification Refreshment Session for Executives)
Mr. Soemenggrie Jongkamto has no affiliate relationship with other members of the BoD, members of the BoC, and the controlling
shareholders of the Bank.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 45
Page 48
Board of Commissioners Profile
                                                            Fatma Abdulla Al-Suwaidi

                                                            > President Commissioner




Qatari Citizen, 47 years old. Domiciled in Doha, Qatar.
Ms. Fatma Al-Suwaidi joined QNB in 2000 and, with over 20 years’ experience in banking, she currently serves as its Group Chief
Risk Officer, having previously been Head of Credit Administration (2012–2013) and Assistant General Manager – Group Credit
(2013–2018). In addition, Ms. Fatma Al-Suwaidi is currently a Board Member of QNB Finansbank, Turkey.
Ms. Fatma Al-Suwaidi has a BSc in Accounting (1999), a Master’s Degree in Business Administration from Qatar University
(2004), a MSc in Risk Management from University of New York (2015), a Juris Doctor in Law Degree from Hamad Bin Khalifa
University (2019), and a Doctorate in Business Administration from Grenoble University, France on the subject of “Innovation in
Banking and Financial Markets”, focusing on crypto currencies (2022).
Based on EGMS resolution dated 17 December 2020, Ms. Fatma Al-Suwaidi was appointed as President Commissioner of the Bank
and was declared effective by OJK on 4 June 2021. Ms. Fatma Al-Suwaidi was reappointed as President Commissioner of the Bank
based on AGMS resolution on 19 August 2021, to serve until the 2024 AGMS.
Ms. Fatma Al-Suwaidi has no affiliate relationship with other members of the BoC nor members of the BoD. However, Ms. Fatma
Al-Suwaidi is affiliated with the controlling shareholder of the Bank, namely Qatar National Bank (Q.P.S.C.).




46 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 49
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                                              Khalid Ahmed Al-Sada

                                                              > Commissioner




Qatari Citizen, 46 years old. Domiciled in Doha, Qatar.
Mr. Khalid Al-Sada has over 26 years of banking experience and 19 years within QNB Group where he has held numerous
key positions. Since 2021, Mr. Khalid has held the position of Senior Executive Vice President – Group Corporate and Institutional
Banking, and previously he held the position of General Manager – Group International Business Division during 2011–2021.
Mr. Khalid Al-Sada specialises in corporate and international banking, with profound knowledge of overseas business
environments and banking regulations in different jurisdictions. Mr. Khalid Al-Sada is also a board member in QNB Al Ahli in
Egypt and Al Mansour Bank in Iraq.
Mr. Khalid Al-Sada earned his Diploma in Banking Operations from Institute of Administrative Development, Qatar (2004), and
High Performance Board Programme from IMD (2016), in addition to many global competence development programmes like IMF.
Mr. Khalid Al-Sada was appointed as Commissioner of the Bank based on the Resolution of Annual GMS dated 26 June 2019, and
was declared effective by OJK on 11 October 2019. Mr. Khalid Al-Sada was reappointed as Commissioner of the Bank based on
AGMS resolution dated 19 August 2021, to serve until the 2024 AGMS. Aside from serving as Commissioner of the Bank,
Mr. Khalid Al-Sada also concurrently serves as member of the Bank’s Remuneration and Nomination Committee.
Mr. Khalid Al-Sada has no affiliate relationship with other members of the BoC nor members of the BoD. However, Mr. Khalid Al-Sada
is affiliated with the controlling shareholder of the Bank, namely Qatar National Bank (Q.P.S.C.).




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 47
Page 50
Board of Commissioners Profile (Continued)
                                                              Djoko Sarwono

                                                              > Independent Commissioner




Indonesian Citizen, 73 years old. Domiciled in Jakarta, Indonesia.
Mr. Djoko Sarwono has more than 45 years banking experiences starting career from Bank Indonesia since 1977 and has held
numerous positions include as Executive Director of Banking Regulation & Development Department of Bank Indonesia
(1998–2001), Chief Office of Bank Indonesia–Bandung Region (2001–2003), President Director of Indover Bank, Amsterdam
(2003–2006), and Assistant to Governor of Bank Indonesia (2007–2009). After career in Bank Indonesia, Mr. Djoko Sarwono joined
the Indonesian Banking Development Institute (LPPI) as Advisor to the Board of Directors and as Senior Faculty (2010-2015). From
2011 to 2015, Mr. Djoko Sarwono was President Commissioner of Pefindo Rating Agency, then became President Commissioner of
PT NISP Asset Management (2013–2014), Vice President Commissioner of PT Aberdeen Asset Management (2014–2015), and
President Commissioner of Pefindo Credit Bureau (2014–2017).
Mr. Djoko Sarwono earned his Bachelor’s degree in Law from Trisakti University (1975), Master in Public Administration (MPA)
from University of Southern California, Los Angeles, USA (1985), and Doctor of Philosophy in Public Administration (DPA) from
University of Southern California, Los Angeles, California, USA (1989).
Based on EGMS resolution dated 9 October 2015, Mr. Djoko Sarwono was appointed as Independent Commissioner of the Bank, and
was declared effective by OJK on 11 November 2015. Mr. Djoko Sarwono was reappointed as Independent Commissioner of the
Bank based on AGMS resolution dated 19 August 2021 to serve until the 2024 AGMS. Aside from serving as Independent
Commissioner of the Bank, he also serves as Chairman of the Bank’s Risk Oversight Committee.
In 2023, Mr. Djoko Sarwono attended BARa Risk Forum: ERM and Cyber Security: How to Mitigate and Protect, held by Bankers
Association for Risk Management (BARa).
Mr. Djoko Sarwono has no affiliate relationship with other members of the BoC, members of the BoD, nor the controlling shareholder
of the Bank.




48 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 51
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




                                                              Muhammad Anas Malla

                                                              > Independent Commissioner




Indonesian Citizen, 66 years old. Domiciled in Jakarta, Indonesia.
Mr. Anas Malla has over 40 years of banking experience. Starting career from 1982 in PT Bank Negara Indonesia (Persero) Tbk
until 2011, where he has held numerous key positions with his last position as Internal Audit Division Head. From 2012 to 2013,
Mr. Anas Malla served as Commissioner of PT Swadarma Sarana Informatika, and subsequently from 2013 to 2021, served as
President Commissioner of PT Swadarma Sarana Informatika.
Mr. Anas Malla earned his Bachelor’s degree in Law from Trisakti University, Jakarta (1989) and his Master of Laws from Tulane
University, New Orleans, USA (1998).
Based on the EGMS resolution dated 16 September 2011, Mr. Anas Malla was first appointed as Independent Commissioner
of the Bank, and was declared effective by Bank Indonesia on 24 November 2011. Mr. Anas Malla was reappointed as Independent
Commissioner of the Bank based on AGMS resolution dated 19 August 2021, to serve until the 2024 AGMS. As Independent
Commissioner, Mr. Anas Malla was assigned as Chairman of Audit Committee as well as the Chairman of Remuneration
and Nomination Committee in the Bank.
In 2023, Mr. Anas Malla attended BARa Risk Forum: ERM and Cyber Security: How to Mitigate and Protect, held by Bankers
Association for Risk Management (BARa).
Mr. Anas Malla has no affiliate relationship with other members of the BoC, members of the BoD, nor the controlling shareholder
of the Bank.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 49
Page 52
Changes in Board of Commissioners and
Board of Directors’ Composition
In 2023, pursuant to the resolution of the AGMS on 30 May 2023, there was a change to the composition of the BoD, with
the resignation of Geoffry Nugraha from his position as Director, effective from 30 May 2023.
Following the change, the composition of the BoD and the BoC of the Bank became as follows:




                                                             Prior to 30 May 2023

   Board of Directors
         President Director                         : Haryanto Suganda
         Director                                   : Geoffry Nugraha
         Director                                   : Windiartono Tabingin
         Director                                   : Nicolas Alix Groene (Nick Groene)
         Director                                   : Soemenggrie Jongkamto


   Board of Commissioners
         President Commissioner                     : Fatma Abdulla Al-Suwaidi
         Commissioner                               : Khalid Ahmed Al-Sada
         Independent Commissioner                   : Djoko Sarwono
         Independent Commissioner                   : Muhammad Anas Malla



                                                         From 30 May 2023 Onwards

   Board of Directors
         President Director                         : Haryanto Suganda
         Director                                   : Windiartono Tabingin
         Director                                   : Nicolas Alix Groene (Nick Groene)
         Director                                   : Soemenggrie Jongkamto


   Board of Commissioners
         President Commissioner                     : Fatma Abdulla Al-Suwaidi
         Commissioner                               : Khalid Ahmed Al-Sada
         Independent Commissioner                   : Djoko Sarwono
         Independent Commissioner                   : Muhammad Anas Malla




50 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 53
2023 Highlights   Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




Executive Management Profiles
Haryuninglistia Setiantini                                              Nancy Prasetijo

> Act. Chief Risk Officer                                               > Act. Head of Retail Banking
  Joined QNB Indonesia on 27 July 2020 as Head of Market                   Serving as Head of Retail Banking since 6 November 2023.
  Liquidity & Enterprise Risk and currently serving as                     Obtained her Bachelor of Industrial Management &
  Act. Chief Risk Officer since 1 April 2023. Graduated                    Engineering from University of Surabaya, and Master of
  with a Bachelor of Science (Mathematics) from Bandung                    Business Administration from Murdoch University,
  Institute of Technology. Started her career in Bank                      Perth, Australia. Her experience spans more than
  Danamon and has more than 15 years of experience in                      20 years in Retail Banking and Commercial Banking
  banking. Prior to joining QNB Indonesia, served as                       from various Banks such as ABN AMRO, Royal Bank of
  Head of Market and Balance Sheet Risk Management at                      Scotland, and Commonwealth Bank.
  Bank Commonwealth.


Carina Hastari Tanubrata                                                Bambang Harjono

> Head of Human Resources                                               > Head of Wholesale Banking Credit Review
  Serving as Head of Human Resources since 20 March 2023.                  Serving as Head of Wholesale Banking Credit Review since
  Earned a Bachelor of Arts degree (double degree in                       4 March 2022. Earned his Master of Marketing
  Psychology & Political Science) from the University of                   Management from Universitas Indonesia and Master of
  Melbourne and a Master of Human Resource Management                      Business Administration from National University of
  degree from Monash University. Started her career as                     Singapore. He has 26 years of banking experience including
  HR Manager at PSKD Mandiri School in 2002, then as                       in BCA, Citibank, Barclays, DBS and ANZ, with his last
  HR Relationship Manager at Standard Chartered Bank,                      position as Senior Corporate Credit Reviewer in
  HRBP for business and support functions at Bank                          Bank UOB Indonesia.
  Commonwealth and Prudential Life Assurance and
  finally served as HR Business Partner Division Head at
  PT Bank OCBC NISP Tbk.


David Liswandi                                                          Charly Ferdinandus

> Head of Information Technology                                        > Head of Operations
  Serving as Head of Information Technology since                          Serving as Head of Operations since 11 April 2022.
  1 July 2019. Earned his Bachelor’s degree in Computer                    Earned his Bachelor of Economics degree from Airlangga
  Science and Bachelor of Statistics from Bina Nusantara                   University, Surabaya. He started his banking career
  University. Experienced in managing IT Operations                        since 1999, and has working experience of more than
  across multiple industries. Previously worked for ANZ                    20 years in Banking Operation, having worked
  Bank Indonesia as Head of Technology Infrastructure &                    at Citibank, Commonwealth Bank, with the last position
  End User Services, managing several operational                          being Head of Banking Service Management in
  projects at ANZ Hong Kong and Taiwan. Previous to that,                  PT Bank KEB Hana Indonesia.
  he worked as IT Infrastructure Specialist at Coca
  Cola Amatil Indonesia and as Consultant at Mitra
  Integrasi Informatika.


Romy Yulianto Santoso                                                   Dennis Tanu Utomo

> Chief Auditor                                                         > Head of Corporate Banking
  Serving as Chief Auditor since 1 July 2020.                              Serving as Head of Corporate Banking since
  Graduated with a Bachelor’s degree in Economics from Bina                14 August 2023. He earned her Bachelor of Business &
  Nusantara University, and earned the Indonesia Internal                  Commerce from Monash University. He has experience
  Audit Practitioners (IIAP) from IIA Indonesia.                           for 17 years in several multinational Bank, such as HSBC
  Has more than 22 years of experience in audit and risk                   Indonesia, DBS and Standard Chartered Bank.
  management, having worked at various multinational
  banking institutions, among others Hana Bank,
  Maybank Indonesia, OCBC, Danamon and UOB.




                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 51
Page 54
Executive Management Profiles (Continued)
Denny Soedharmo                                               Indah Mathilda

> Head of General Services                                    > Head of Corporate Secretary
  Serving as Head of General Services Division since            Serving as Head of Corporate Secretary since 11 May 2018.
  12 May 2014. Earned his Bachelor of Architecture from         Obtained a Diploma from LPK Tarakanita. She has more
  Tarumanagara University and Master of Management              than 23 years of banking experience, having served in
  from Trisakti University. Previously, he worked as            various positions, including Head of Banking Marcom at
  GM Facility & General Services at BAT/Bentoel Group,          Citibank Indonesia, Head of Marketing for Private
  Head of Facility Management – Corporate Real Estate at        Banking, Commercial and Branding and Segment Head
  Bank Ekonomi (member of HSBC Group), and Head                 for Retail Banking at at PT Bank ANZ Indonesia. She is a
  of Property and Facility Management Services at               member of Indonesia Corporate Secretary Association
  ABN AMRO/RBS.                                                 (ICSA).


Estrelita Lestari                                             Inggrid Ratna Hindiyani

> Head of Information Technology                              > Head of Financial Crime Compliance
  Serving as Head of Operational Risk since 2 January 2020.     Serving as Head of Financial Crime Compliance (FCC)
  Graduated from Hofstra University, New York, USA,             since January 2023. She earned her Bachelor’s degree in
  with a Master of Science in Finance degree, and has more      Accounting from Padjadjaran University. Previously
  than 12 years of experience in banking risk.                  served as AMLO CTF Head at PT Bank KEB Hana
  Had served in various positions at Bank Commonwealth,         Indonesia, as well as Regional Financial Crime Advisory,
  among others as Head of Operational Risk,                     Asia Pacific at HSBC Corp. Ltd. Hong Kong
  Head of Credit Quality Review & Credit Policy and Head
  of Credit Policy.




Goeroeh Andhi Djaja L.                                        Inne Eliza Indriantie

> Head of IT Security & Risk Management                       > Head of E-Channels
  Serving as Head of IT Security & Risk Management since        Serving as Head of E-Channels since 2 January 2019.
  3 February 2020. An expert in IT with more than               Previously held the position of E-Banking Sales
  27 years working in financial industry and banking,           Acquisition Head. She earned her Bachelor
  including at Citibank, BTPN, and prior to joining QNB         of Management from Parahyangan University, Bandung.
  Indonesia, serving as Bank Information Security Officer       She has extensive experience working in
  at Bank CIMB Niaga                                            Digital Banking & Acquiring Business in multiple banks,
                                                                such as CIMB Niaga, Bank Mandiri, Bank Permata, and
                                                                Bank Mega.



Ibnu Gutomo                                                   Lia Indriani

> Head of Strategy Execution                                  > Head of Credit Remedial
  Joined QNB Indonesia on 4 September 2014 and has              Joined QNB Indonesia on 1 July 2019 and currently
  worked in the Wholesale Banking division as well as in        serving as Head of Credit Remedial. Earned her Bachelor
  Retail Banking, before now serving as Head of Strategy        of Arts in Business Administration and Master of
  Execution under Finance Directorate. He graduated             Business in International Management from
  from Bina Nusantara University majoring in Information        Baldwin-Wallace College, Cleveland, USA. Started
  Engineering with a variety of work experiences in             her banking career at Bank Credit Lyonnais Indonesia
  banking industry for 15 years. He had worked at several       and for almost 16 years worked in the Corporate Banking
  foreign banks, such as ABN-AMRO, The Royal Bank               Business of Bank Permata Indonesia, with her last
  of Scotland (RBS), and then HSBC as Corporate Liaison.        position as Head of Corporate Group.




52 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 55
2023 Highlights   Reports to Stakeholders   Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




Muhammad Habib Ubaidillah                                                 Ronald

> Head of Regulatory Compliance                                           > Head of Retail Products Management
  Serving as Head of Regulatory Compliance Division                          Serving as Head of Retail Products Management since
  QNB Indonesia since April 2023. Obtained a Bachelor of                     1 March 2021. Earned his Bachelor of Engineering from
  Laws degree from Islamic University of Indonesia and a                     University of Indonesia and Master of Management from
  Master of Laws degree from Gadjah Mada University                          Krida Wacana Christian University. His experience in
  with a concentration in Business Law. Before Joining                       Banking spans more than 20 years and previously he
  QNB Indonesia, he worked at several banks, including                       served as Wealth Management Product Head in PT Bank
  PT Bank ICBC Indonesia and PT Bank CTBC Indonesia.                         UOB Indonesia.




Niken Ratmitasari                                                         Sry Ekawaty

> Head of Legal                                                           > Head of Credit Administration
  Joined QNB Indonesia on 20 May 2023 as Head of Legal.                      Serving as Head of Credit Administration since
  Graduated from the Faculty of Law, University of Indonesia                 18 September 2017. Earned her Bachelor’s degree in
  in 1995 with a major in Law on Economic Activities.                        Accounting from Trisakti University. Previously served
  Experienced as Head of Legal at MUFG Jakarta branch, and                   as Document Processing Head at PT Bank UOB Indonesia
  as part of the legal team at HSBC. Before joining HSBC, she                Tbk, and had served as Activation & Documentation
  was part of AHP & Partners, PT Sigma Batara, and HPRP                      Manager at Bank DBS, Team Leader Credit Documentation
  Law Firm (aka HSP Law Firm).                                               at Deutsche Bank, and several positions at ABN AMRO
                                                                             Bank with the last position as Team Leader of Private
                                                                             Segment Market and continued with Wholesale Segment,
                                                                             Citibank, with last position as frontliner at branch.


Novia Valencia Wibowo                                                     Teresa Ardania Gunadi

> Head of Credit Analyst                                                  > Head of Corporate Communication
  Joined QNB Indonesia on 2 January 2023 as                                  Serving as Head of Corporate Communication since
  Head of Credit Analyst – Corporate & Institutional                         August 2018. Earned her Bachelor’s degree in Economics
  Banking. Industrial Engineering graduate from Pelita                       from Atma Jaya University, Jakarta. Previously, she
  Harapan University with experience in the corporate                        served as Branding Head and Credit Card, QNB First
  banking segment, including at BCA, HSBC Indonesia,                         & E-Banking Marcomm Head in Corporate Communication
  and OCBC NISP, with the last position as Enterprise                        Division. Prior to that, she had served as Head Marketing
  Banking Credit Analyst Head.                                               Strategic Initiatives (MSI) Section at Marketing
                                                                             and Communication Department of Asuransi Jiwa
                                                                             Manulife Indonesia, and Proposition & Customer Loyalty
                                                                             Manager Preferred, Private and Wealth Management at
                                                                             CIMB Niaga.
Reza Pradikta

> Head of QNB First
  Joined QNB Indonesia on 2 September 2019 as QNB First
  Product Management Head and currently serving as
  Head of QNB First. Obtained his Bachelor of Psychology
  with double degree from University of Indonesia and
  University of Queensland. He has more than 15 years of
  banking experience with his last position prior to
  joining QNB Indonesia as Customer Proposition in
  HSBC Indonesia.




                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 53
Page 56
Shares & Other Securities Listing Chronology
Share Listing Chronology

                                                                Number of                         Offering
    Corporate Action                        Date                                   Par Value                        Paid Up Capital
                                                               Shares Issued                       Price

 Prior to Initial Public                                                                                           321,200,000 shares ~
                                               -                               -         Rp250               -
 Offering of Shares                                                                                                  Rp80,300,000,000

 Initial Public Offering                                                                                           400,000,000 shares ~
                                     31 October 2002                  78,800,000         Rp250        Rp250
 of Shares                                                                                                          Rp100,000,000,000

                                                                                                                    501,219,000 shares ~
 Warrant Series I                  21 November 2002                 101,219,000          Rp250        Rp250
                                                                                                                     Rp125,304,750,000

                                                                                                                    626,523,750 shares ~
 Rights Issue I                        15 June 2009                 125,304,750          Rp250        Rp320
                                                                                                                      Rp156,630,937,500

                                                                                                                  3,561,787,518 shares ~
 Rights Issue II                    27 December 2010              2,935,263,768          Rp250        Rp250
                                                                                                                     Rp890,446,879,500

                                                                                                                  6,158,330,518 shares ~
 Rights Issue III                      27 May 2013                2,596,543,000          Rp250        Rp250
                                                                                                                    Rp1,539,582,629,500

                                                                                                                  8,757,145,997 shares ~
 Rights Issue IV                        2 June 2014               2,598,815,479          Rp250        Rp250
                                                                                                                   Rp2,189,286,499,250

                                                                                                                 16,992,865,249 shares ~
 Rights Issue V                        20 June 2017               8,235,719,252          Rp250        Rp250
                                                                                                                    Rp4,248,216,312,250

                                                                                                                 20,436,685,984 shares ~
 Rights Issue VI                       22 May 2018                3,443,820,735          Rp250        Rp250
                                                                                                                    Rp5,109,171,496,000

                                                                                                                 35,158,048,365 shares ~
 Rights Issue VII                      28 April 2023             14,721,362,381          Rp250        Rp250
                                                                                                                    Rp8,789,512,091,250



Other Securities Listing Chronology

                                                                                               Offering
                                     Issuance           Coupon                                             Securities’       Ratings
     Name of Securities                                                  Maturity Date          Value
                                       Year              (%)                                                 Rating          Agency
                                                                                            (Rp billion)

 Shelf Registration
 Bond I Phase I Year 2019               2019        9.50% per annum        5 July 2022               100     AAA(idn)     Fitch Ratings
 Bank QNB Indonesia

 Shelf Registration
 Bond I Phase II Year 2019              2019        7.10% per annum      6 December 2020             452     AAA(idn)     Fitch Ratings
 Bank QNB Indonesia

 Shelf Registration
 Bond I Phase III Year 2020             2020        6.25% per annum     10 November 2021             448     AAA(idn)     Fitch Ratings
 Bank QNB Indonesia




54 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 57
2023 Highlights         Reports to Stakeholders        Company Profile      Management Discussion and Analysis          Corporate Governance         Sustainability




Public Accountant




                  The Bank embraces the principle of transparency, reporting its financial statements to the prevailing standards of auditing.




Appointment of External Auditor
The Bank appointed Public Accounting Firm Purwantono, Sungkoro & Surja to audit the Bank’s financial statements for 2023.
The appointment was made in accordance with the regulations of Bank Indonesia, OJK, and other relevant regulations.
Audit Implementation
To ensure optimal audit processes and results, the Financial Accounting & Control Division is responsible for conducting coordination
and communications with the external auditor.
The Public Accounting Firm Purwantono, Sungkoro & Surja is responsible to conduct the following activities:
1. Investigate all material accounts, based on applicable Professional Public Accountant Standards and ensure its compliance with
   applicable Indonesia Accounting Standards;
2. Communicate audit findings to the Bank’s management and OJK; and
3. Maintain independence while carrying out its duties.
For 2023, the Public Accounting Firm performed its assignment for the first year for the Bank, with its scope of work including
limited review, interim audit, and year-end audit. The Public Accounting Firms and the Public Accountants who had provided
financial audit services to the Bank in the past five years are presented in the table below:


     Fiscal Year                                  Public Accounting Firm                                             Public Accountant
                                         Purwantono, Sungkoro & Surja
         2023                                                                                                    Christophorus Alvin Kossim
                                   (a member of Ernst & Young Global Limited)
                                   Amir Abadi Jusuf, Aryanto, Mawar & Rekan
         2022                                                                                          Rudi Hartono Purba S.E., Ak., CA., CPA.
                                          (a member of RSM Global)
                                   Amir Abadi Jusuf, Aryanto, Mawar & Rekan
         2021                                                                                                Bimo I. Santoso, S.E., Ak., CPA.
                                          (a member of RSM Global)
                                   Amir Abadi Jusuf, Aryanto, Mawar & Rekan
         2020                                                                                                Bimo I. Santoso, S.E., Ak., CPA.
                                          (a member of RSM Global)
                                   Amir Abadi Jusuf, Aryanto, Mawar & Rekan
         2019                                                                                                Bimo I. Santoso, S.E., Ak., CPA.
                                          (a member of RSM Global)


The fees for the audit of financial statements for the 2023 financial year paid to the above mentioned Public Accounting Firm
amounted to Rp1.4 billion.


                                                                                                                 PT Bank QNB Indonesia Tbk Annual Report 2023 — 55
Page 58
Capital Market Supporting Institutions
and Professions
Share Registrar                                     Public Accounting Firm

PT Adimitra Jasa Korpora                            RSM Indonesia
Jl. Kirana Avenue III                               Plaza ASIA, Level 10
Blok F3 No.5 Kelapa Gading                          Jl. Jend. Sudirman Kav. 59
North Jakarta                                       Jakarta 12190
Tel               : (+62 21) 297 452 22             Tel               : (+62-21) 5140 1340
Fax               : (+62 21) 292 899 61             Fax               : (+62-21) 5140 1350
Services rendered : Administration of shares.       Services rendered : Audit in Rights Issue VII.
Assignment period : January–December 2023.          Assignment period : January–December 2023.
Fees in 2023      : Rp207,600,000.                  Fees in 2023      : Rp1,249,250,000.


Notary
                                                    Ernst and Young
                                                    Gedung Indonesia Stock Exchange
Notaris Fathiah Helmi SH                            Jl. Jend. Sudirman Kav. 52-53
                                                    Jakarta 12190
Graha Irama, 6th Floor
Jl. H. R. Rasuna Said Blok X-1, Kav. 1 & 2          Tel               : (+62-21) 528 95000
Kuningan, South Jakarta 12950                       Website           : www.ey.com
                                                    Services rendered : Audit of financial statements.
Tel               : (+62 21) 5290 7304–6            Assignment period : January–December 2023.
Fax               : (+62 21) 526 1136               Fees in 2023      : Rp1,400,000,000.
Services rendered : Notarial services.
Assignment period : January–December 2023.
Fees in 2023      : Rp110,390,000.                  Securities Depository and
                                                    Settlement Institution
Stock Exchange
                                                    PT Kustodian Sentral Efek Indonesia
PT Bursa Efek Indonesia                             Bursa Efek Indonesia Building, Tower I 5th Floor
Bursa Efek Indonesia Building, Tower I              Jl. Jend. Sudirman Kav. 52–53
Jl. Jend. Sudirman Kav. 52–53                       Jakarta 12190
Jakarta 12190                                       Tel               : (+62 21) 515 2855
Tel               : (+62 21) 515 0515               Fax               : (+62 21) 5299 1199
Fax               : (+62 21) 515 4153               Toll-Free         : 0800 186 5734
Email             : listing@idx.co.id               Email             : helpdesk@ksei.co.id
Website           : www.idx.co.id                   Website           : www.ksei.co.id
Services rendered : Listing of shares               Services rendered : Custodianship of securities.
Assignment period : January–December 2023.          Assignment period : January–December 2023.
Fees in 2023      : Rp444,000,000.                  Fees in 2023      : Rp11,100,000.


Securities Companies                                Legal Consultant

Indopremier                                         Warens & Partners
Pacific Century Place 16/F SCBD Lot.10              Millenium Centennial Center 1st Floor Unit C
Jl. Jend. Sudirman Kav. 52–53                       Jl. Jend. Sudirman Kav.25
Jakarta 12190                                       Jakarta 12920
Tel               : (+62 21) 508 87200              Tel               : (+62 21) 397 39933
Website           : www.indopremier.com             Website           : www.warenslaw.com
Services rendered : Arranger in Rights Issue.       Services rendered : Legal consultancy in Rights Issue.
Assignment period : January–December 2023.          Assignment period : January–December 2023.
Fees in 2023      : Rp955,859,000.                  Fees in 2023      : Rp349,650,000.


56 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 59
2023 Highlights      Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




Membership in Associations

                                                                                               Membership Status
                                                   Membership
   No                Association
                                                     Period                                                                         Position in
                                                                           Member                     Committee
                                                                                                                                    Committee


             Ikatan Auditor Internal Bank                                                                                        Membership
    1                                               2020–2023                   X                           X
             (IAIB)                                                                                                             Administrator


             Institute of Internal Auditors
    2        (IIA) Indonesia (only Chief             2021–2024                  X                            -                       Member
             Auditor & Sub Division Head)


             Indonesian Banking Dispute
    3        Settlement Alternatives                 2021–2023                  X                            -                       Member
             Institution (LAPSPI)


    4        Aswiftindo                             2022–2023                   X                            -                       Member


             Indonesian Payment Systems
    5                                                2021–2022                  X                            -                       Member
             Association (ASPI)


             Banker Association for
    6                                                      -                    X                           X                Secretary General
             Risk Management (BARa)


             Bankers Association of
    7                                                      -                    X                           X                        Member
             Indonesia (IBI)


             Banking Compliance
                                                                                                                              Deputy Secretary
    8        Directors Communications                      -                    X                            X
                                                                                                                                  General
             Forum (FKDKP)


             National Banks Association                                                                                         Legal and ESG
    9                                                      -                    X                            X
             (Perbanas)                                                                                                         Administrator


             Indonesia Corporate
    10                                                     -                    X                            -                       Member
             Secretary Association (ICSA)


             Information Systems Audit
    11       and Control Association                2022–2023                   X                            -                       Member
             (ISACA)


             Association of Mutual Fund
    12       Selling Agent Banks of                 2024–2025                   X                            -                       Member
             Indonesia (ABAPERDI)


             National Standardisation
    13                                              2024–2025                   X                            -                       Member
             Agency




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 57
Page 60
Management
Discussion and
Analysis
Page 61
Versatile in function and elegant in form is what QNB Indonesia aspires
to be, serving as a reliable financial provider and partner of sustainable
growth for its customers and the nation as a whole.
Page 62
Industry Review
                                                                    by the prices of Brent crude and US West Texas
                                                                    Intermediate crude contracting by around 8-10% in 2023.
                                                                    Lower energy costs in turn proved pivotal to the overall
                                                                    inflation reduction. In the Group of Twenty (G20)
                                                                    countries, median consumer price index (CPI) inflation fell
                                                                    to 3.9% in October 2023, a sharp drop from its peak of 7.7%
                                                                    in July 2022. In the OECD countries, CPI went down to 5.4%
                                                                    in November 2023, from a recent peak of 10.7% in
                                                                    October 2022.

                                                                    Indonesian economy and banking industry
                                                                    In 2023, despite global economic uncertainties and
                                                                    inflationary pressures, Indonesia’s economy exhibited
                                                                    resilient growth. Bank Indonesia raised its BI 7-Day Reverse
                                                                    Repo Rate (BI7DRR) by 0.25% to 6.00% in September 2023,
                                                                    effectively stabilising the rupiah and managing
                                                                    imported inflation. Inflation was kept within the target
                                                                    range of 3.0%±1% in 2023, and the projection of 2.5%±1%
                                                                    in 2024 is set to be achieved.
                                                                    Indonesia’s economic performance was buoyed by strong
                                                                    domestic demand, including both private and government
                                                                    consumption, as well as consistent investment growth.
                                                                    The economy grew by 5.1% for the full year, as reported by
                                                                    Statistics Indonesia. Private consumption, especially
                                                                    among younger generations, played a key role in driving
   In tandem with the country's economic progress, QNB Indonesia    this economic vitality. There was increased consumption in
        is creating opportunities out of the challenges it faces.   the services sector, and with high consumer confidence,
                                                                    household consumption grew significantly. Increased
                                                                    mobility and stable purchasing power contributed to this
                                                                    robust consumer sentiment. On the investment front,
Global economic developments                                        growth was also robust, in line with the government’s
                                                                    ongoing infrastructure development across Indonesia,
The global economy faced an array of challenges in 2023,
                                                                    chief of which being the IKN (Ibu Kota Nusantara, new
with a significant slowdown in growth, moderating but
                                                                    capital project) in East Kalimantan.
still elevated inflation rates, and heightened geopolitical
tensions. The IMF reported a decelerating global GDP                The Indonesian banking industry recorded some respectable
growth, from 3.5% in 2022 to 3.1% in 2023, well below the           growth throughout all these encouraging developments.
historical average of 3.7%. OECD projections, meanwhile,            Credit was recorded 10.4% higher than at the end of 2022,
anticipated a further decline in growth rates. The primary          with expansion seen across various loan books.
drivers of this downturn were the monetary policy                   Investment loans increased by 12.3%, working capital
tightening to control inflation and the geopolitical unrest         loans by 10.1%, and consumption loans by 9.3% from their
in Europe and the Middle East, which had a pronounced               respective figures one year prior. Additionally, the growth
impact on disposable incomes and energy security.                   in third-party funds was 3.7% year, bolstered by a 4.5%
                                                                    increase in funds stored in time deposits.
Inflation continued to drag economies worldwide in 2023,
although the latter half of the year saw a noteworthy               The banking sector demonstrated stability and safety in its
easing in these pressures. This reduction in inflation              performance ratios. There were significant improvements in
was largely attributed to a confluence of factors, including        NPL and other problematic credits. CAR was high at 27.8%
a slowdown in economic momentum, easing of supply                   at the end of the year, indicating a strong capital base and a
chain pressures, declining energy prices, and effective             buffer against financial stresses. The sector showed
monetary policy interventions.                                      improving credit quality, with a net NPL ratio of 0.75% and a
                                                                    gross NPL of 2.2%, underscoring effective risk management
The US Federal Reserve’s response to inflationary
                                                                    and control of credit quality within the industry.
pressures was marked by a series of interest rate
hikes throughout the year, to temper the rising cost of
living. By the end of 2023, however, with the inflation rate
seemingly under control while the economy demonstrated
resilience, the Federal Reserve opted to maintain its
benchmark rate, in stark contrast to the aggressive
rate hikes seen earlier in the year.
The decrease in economic activity, alongside the
normalisation of supply chains after the pandemic and
Ukraine War shocks, helped alleviate cost pressures across
various sectors, easing inflation. Notably, energy prices
saw a substantial drop from their peak in 2022, as reflected


60 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights    Reports to Stakeholders   Company Profile      Management Discussion and Analysis          Corporate Governance         Sustainability




Banking Business Review
                                                                            In executing this strategy, the Bank’s top priority was
                                                                            attracting customers with solid creditworthiness. By
   Corporate & Institutional                                                evaluating each potential client’s business performance and
                                                                            the sustainability of their industry, the Bank engaged new
   Banking                                                                  customers in sectors which the Bank has expertise in,
                                                                            particularly those showing resilience and recovery
                                                                            post-pandemic. This approach enabled the Bank to identify
                                                                            new growth opportunities, establish stronger relationships
   The Corporate & Institutional Banking (CIB)
                                                                            with promising businesses, and manage risks according to
   Directorate of the Bank consists of several divisions:
                                                                            the approved level of risk appetite.
   Corporate Banking, Transaction Banking &
   Wholesale Funding, Business Strategy & Support,                          The strategy extended beyond just the acquisition of
   and Credit Analyst. The CIB segment serves a                             selective customers. It also involved offering a suite of
   diverse range of clients, from local corporates,                         supportive services, including integrated cash
   multinational companies, state-owned enterprises,                        management, foreign exchange transactions, and trade
   to non-bank financial institutions.                                      finance. These services played a crucial role in reinforcing
                                                                            financial foundations and enhancing profitability.
                                                                            They provided critical insights into the financial status of
                                                                            each client. Such insights help detect early indicators of
The global economy saw a slight slowdown amid ongoing                       financial distress, allowing the Bank to take timely and
inflation battles and a recession in the Eurozone during                    effective mitigation actions.
2023. Despite this, emerging Asian economies, led by India                  For robust liquidity management, the Bank sought to
and Indonesia, continued to grow moderately, fuelled by                     acquire moderate or low-cost funding sources to bolster
internal demand and exports. Indonesia’s economy                            funding base. Underpinning this approach were the
expanded 5.05% YoY in 2023, with significant                                additional features offered to clients, to position the Bank as
contributions from the transportation, warehouse, and                       the preferred institution for their operating accounts. These
mining sectors, highlighting the domestic rebound in                        features included advanced internet banking, innovative
tourism and the steady rise in infrastructure investment.                   foreign exchange solutions, and comprehensive cash
                                                                            management services.
Operation and Marketing
                                                                            In adherence to best practices in risk management, the Bank
In the Corporate & Institutional Banking segment, the focus
                                                                            limited the concentration of risk by widening its customer
of financial intermediary role was set on three main sectors:
                                                                            base, in terms of the number of customers and across a broad
mining and metals, manufacturing, and multifinance. Each
                                                                            spectrum of industries. It promoted a balanced and
sector offered the Bank with unique opportunities and
                                                                            risk-conscious business model, diminishing the Bank’s
challenges. They played a pivotal role in shaping the
                                                                            reliance on any singular customer group and thereby
strategy for loan book growth, which the Bank safeguarded
                                                                            sustaining its overall financial stability.
with stringent risk management policies, in light of the high
interest rate environment throughout 2023.                                  2023 Achievements
Responding to sector-specific dynamics called for a                         Throughout 2023, the Bank executed its funding strategy
comprehensive recalibration of the Bank’s business                          in its CIB segment, achieving a total funding balance of
objectives, mirroring a common trend in the banking                         Rp2.76 trillion, of which low-cost funds (CASA) made up
industry. To address these challenges, the Bank integrated                  21%. The Bank also maintained robust liquidity
leading companies from these key sectors into its portfolio,                throughout the year, evidenced by its Net Stable
expanding its scope while upholding a strong commitment                     Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR)
to the principles of prudence and compliance.                               standing at 190.37% and 465.30% respectively,
The Bank’s approach in the mining and metals sector                         by year-end.
involved seizing specific opportunities, particularly in the
burgeoning field of sustainable financing. This was a                       Future Trajectory
significant focus for the Bank in 2023, as well as an                       The main objective of the Bank in the CIB segment is to
ongoing priority. The global shift towards sustainability                   uphold the business foundations that had been set in earlier
had led many coal companies to begin diversifying into                      years, which in turn had brought the financial successes
renewable forms of energy. The Bank actively supported                      recorded in 2023. The strong growth momentum—boosted
this transition towards the greener economy, financially                    by collaboration and collective flourishing of the country’s
assisting these firms to realign their business models with                 financial ecosystem players—shall be sustained, even
more sustainable practices.                                                 intensified with scaled-up and sector-specific offerings
The Bank expanded its lending to include infrastructure,                    from the Bank.
telecommunications, consumer finance, logistics, and                        The CIB strategy is to promote growth across the Bank’s
consumer goods. In consumer finance, the Bank formed                        mainstay sectors, especially those that have proven
selective partnerships with top-tier entities, supporting the               themselves to be particularly resilient during the pandemic
government’s initiative to strengthen Micro, Small, and                     and the ensuing period of global uncertainty. Growth will
Medium Enterprises (MSMEs) as a key driver of Indonesia’s                   also be pursued along fee-based activities, while tapping
economy. The Bank allocated a substantial part of its 2023                  into the QNB Group’s vast network and engagements in the
rights issue proceeds to enhance returns via increased lending.             global financial markets.


                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 61
Page 64
Banking Business Review (Continued)
                                                                   and reliability of its services for customers while mitigating
                                                                   the associated risks.
   Retail Banking                                                  The Bank’s approach to the high interest rate environment
                                                                   emphasised promoting time deposits with tenures ranging
                                                                   from three to six months. This policy was crafted to
   In 2023, the Retail Banking segment focused on                  enhance the Bank’s funding capabilities by appealing to a
   three key areas of improvement: enhancing customer              broad spectrum of depositors, particularly extending
   engagement in the QNB First high-networth segment,              beyond the top 20. With this approach, the Bank aimed to
   refining operational processes for enhanced risk                achieve a more balanced and diverse deposit base, thereby
   management, and implementing a cautious approach                reducing concentration risk and fostering greater stability
   to interest rate and liquidity management. This                 in its funding structure.
   multifaceted strategy was designed to elevate the               Despite the above endeavours, 2023 presented significant
   banking experience for its retail customers, while              challenges. The Bank grapped with intense competition
   ensuring the Bank’s financial stability and growth.             borne out of an uncertain market, necessitating continuous
   Central to this strategy was the Bank’s dedication to           innovation and adaptability. The Bank has refined its
   serving its affluent customer base with a suite of              strategies to differentiate itself in this tighter market while
   exclusive products and services. The Bank                       catering to evolving customer demands. Aligned with
   recognised the unique needs of this demographic and             liquidity needs, the Retail Banking segment also navigated
   responded by offering bespoke banking solutions.                the complexities of managing the retail cost of funds. This
   These included priority banking services, which                 management approach significantly decreased funding
   granted customers preferential access to various                volume, balancing liquidity and profitability in fluctuating
   facilities and additional privileges, catering                  market conditions.
   specifically to the higher end of the affluent market.          2023 Achievements
                                                                   While striving to align the Bank’s liquidity and lending
                                                                   strategies, the Retail Banking segment overcame certain
                                                                   challenges in meeting funding targets. The challenges
Operations                                                         were primarily due to adjustments made in funding
Retail Banking took an innovative approach especially in           approach, which were necessary to align with the broader
QNB First enhancements. The emphasis was on refining               objectives of the Bank resulting total funding from Retail
acquisition strategies and portfolio management, to offer          Banking as at the end of 2023 reached Rp 3.57 trillion.
more comprehensive service packages through improved               Despite the challenges faced by the Bank, there was a
product bundling, thus deepening the wealth management             notable success in wealth management. Focusing on
services provided to QNB First customers. Through these,           offering comprehensive financial solutions such as mutual
the Bank seeks to provide a banking experience that was            fund and forex led to significant growth of wealth
not only integrated but also rich in value, tailored to meet       management fee income by 36.18% from 2022 figure.
the specific needs of this segment.
Complementing this approach were several key initiatives           Marketing
designed to enrich the QNB First experience. The launch of         The Bank undertook a multi-pronged marketing strategy
“QNB First the Premiere” campaign directly took customers’         on augmenting QNB First’s value proposition. This
lifestyle and entertainment needs, particularly those in           enhancement revolved around three areas surrounding its
major Indonesian cities, to the centre stage. Furthermore,         customers’ lives: Travel and Lifestyle, Health, and
the Bank introduced First Starter, an innovative program           Education. The goal was to offer a more holistic and
that provides a financial head-start for the next generation       appealing value proposition that resonated with the modern
seamlessly integrated with wealth management products              consumer’s lifestyle preferences.
like bancassurance and mutual funds. The First Starter             Through consistent portfolio management and
program offers comprehensive financial solutions that              targeted acquisition initiatives, the Bank attracted
support younger clients’ financial literacy and future security.   high-quality customers who would benefit most from
QNB Indonesia demonstrated its commitment to                       the enriched QNB First offerings. In its execution, the Bank
sustainability in the Retail Banking segment by introducing        aims to expand its customer base and attract the right kind
a new type of electric vehicle for the airport transfer facility   of customers who would find value in the Bank’s
that its select customers can take advantage of. This move         specialised services.
not only showcased the Bank’s dedication to eco-friendly           The Bank leveraged the expertise of its wealth
practices but also added a unique, value-added service to          management partners to optimise its internal development
its portfolio, aligning with the growing trend towards             for payment and transaction capabilities through
environmental responsibility.                                      electronic channels. Leveraging digital enhancement was
The Bank collaborated with its stakeholders to improve             crucial for meeting the evolving needs of customers in a
end-to-end retail loan management process continuously.            rapidly digitalised world, offering them convenience and
management efficiency, the Bank enhanced the security              efficiency in financial transaction.




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2023 Highlights    Reports to Stakeholders      Company Profile        Management Discussion and Analysis          Corporate Governance         Sustainability




Furthermore, the Bank incorporated digital initiatives into its                  Plans for 2024
marketing strategy to enhance customer engagement, which
                                                                                 For 2024, the Bank has outlined the direction that
would foster business growth. In tune with the increasing
                                                                                 Retail Banking shall pursue. The plan encompasses a
mobile phone usage in Indonesia, the Bank crafted an
                                                                                 holistic approach to enhance customer base and portfolio
extensive mobile offering designed to boost customer
                                                                                 quality. This will be achieved through the enrichment of
loyalty. This mobile platform extends beyond conventional
                                                                                 the QNB First proposition and benefits, supplemented by a
banking services, offering an array of financial and
                                                                                 comprehensive range of products and services, including
non-financial transaction features, such as time deposit
                                                                                 the capabilities of e-channels. Staff productivity,
opening, foreign exchange transactions, foreign currency
                                                                                 particularly in branch operations, will be continuously
account opening, QRIS transactions, e-wallet top-up, and a
                                                                                 enhanced, so each branch can reach profitability,
rewards loyalty program. The success of this digital
                                                                                 optimise resources, and deliver services efficiently and
strategy was evident: 80% of retail transactions in 2023
                                                                                 satisfactorily.
were executed through digital channels.
                                                                                 Retail loan growth will be another area of focus, mainly
Integral to QNB Indonesia’s digital marketing efforts was
                                                                                 cultivated through UCan. The Bank will achieve this guided
promoting its digital loan application, UCan. Far from being
                                                                                 by comprehensive risk management, so the loan portfolio’s
a mere financial tool, UCan has been instrumental in
                                                                                 expansion does not come at the expense of deteriorating risk
fostering financial inclusivity and stimulating the local
                                                                                 profile. This will be how the Bank strikes a balance between
economy. Moreover, it continues to be the Bank’s spearhead
                                                                                 sustainable growth and financial soundness.
in broadening retail lending portfolio.




                           QNB Indonesia is here to accompany each personal client in every aspect of their financial needs
                                                   through best-in-class Retail Banking products.




                                                                                                            PT Bank QNB Indonesia Tbk Annual Report 2023 — 63
Page 66
Human Resources




                                       QNB Indonesia nurtures its human capital to possess strong competence within
                                              the framework of the values and corporate culture we embrace.




To effectively tackle with the evolving challenges in                             their own interests, training and development
the banking sector in the post-pandemic digital age,                              programmes were provided and consistently enriched.
QNB Indonesia in 2023 focused its human resources (HR)                            Modules covered in the training programmes—available in
management strategy on enhancing practices and policies                           online and offline formats—ranged from regulatory
to deepen employee engagement and broaden their                                   compliance and leadership to green financing and
competence, therefore augmenting productivity                                     cybersecurity. The Bank ensured that recent developments
across the board. This strategy has been robustly supportive                      in the banking sector as well as relevant trends in the
of the Bank’s path towards improving financial                                    workplace are adequately covered in the training modules.
soundness, as shown by its return to profitability,                               Among the key enrichments made to the learning array in
a first in many years.                                                            2023 pertained to process automation and sustainable
Employee recruitment, which had been put on hold in 2022                          finance, the latter in response to the enactment of the
in light of the Bank’s organisational streamlining, was                           Indonesia Green Taxonomy by the OJK in 2022.
resumed in 2023 with the flourishing of the Bank’s business.
While keeping to the tenets of a lean organisation, the Bank                      Total training hours per year
brought on board new recruits to fill critical vacancies. The
Bank also welcomed nine fresh graduates through its                               40 hours
Management Development Programme, which was
also restarted during the year. For more critical and
leadership roles, the Bank prioritised nurturing                                  For each employee, the Bank sets a mandatory
those in its existing talent pool. Following their                                competence development period of at least 40 hours
performance evaluations, held every half-year, certain                            per year. Beyond that, employees are encouraged to take
employees were assigned to positions with higher levels of                        part in training activities in line with their own
responsibility as part of their career development and                            aspirations, while maintaining their work-life balance. The
succession planning.                                                              Bank’s progressive orientation in this regard is reflected in
                                                                                  the attention paid to promoting employee well-being,
To efficaciously guide employees along their respective                           through regular adjustments of employee benefits in
career paths while giving them ample autonomy to                                  keeping with the Bank’s financial condition and
augment their skills based on the Bank’s needs but also                           market rates.




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2023 Highlights        Reports to Stakeholders   Company Profile         Management Discussion and Analysis          Corporate Governance         Sustainability




Overall engagement level                                                            Education                                                   Headcount
74%                                                                                 Master’s Degree/Doctoral Degree                                    39
                                                                                    Bachelor’s Degree                                                 298
                                                                                    Diploma 4                                                           0
An improvement from the previous year’s                                             Diploma 3                                                          40
71%                                                                                 Diploma 2                                                           0
                                                                                    Diploma 1                                                           2
                                                                                    Senior High School                                                 21
The combination of clear career pathing and firm support
                                                                                    Junior High School                                                  1
for professional development yielded an uptick in employee
engagement. In 2023, overall engagement level was                                   Total                                                             401
measured at 74%, an improvement from the previous
year’s 71%. A contributing factor was the Bank’s success in                         Age                                                         Headcount
conducting the QNB Juang event in a fully-offline setting                           >= 55 years old                                                          7
in August 2023. This annual event, which was conducted                              50–54 years old                                                        44
online during the three years of the pandemic, is held
                                                                                    45–49 years old                                                        49
in commemoration of the Republic of Indonesia’s
independence and is aimed at boosting employee creativity                           40–44 years old                                                        89
and camaraderie at work. In December, the Bank                                      35–39 years old                                                        89
also held a year-end gathering event, a first in more than                          30–34 years old                                                        72
five years. Increasing employee engagement went in                                  25–29 years old                                                        39
tandem with improvements in employee retention and
                                                                                    20–24 years old                                                        12
productivity metrics.
                                                                                    Total                                                                 401
Workforce Profile
While the number of branch offices reduced from 9 to 8                              Term of Office                                              Headcount
branches in Q1 2023, the Bank’s new employee acquisitions                           <1 year                                                                66
in 2023 ensured that the workforce remains right-sized but
                                                                                    1–5 years                                                             133
prepared to seize a sustainable growth in the coming years.
As at 31 December 2023, the Bank had 401 employees, with                            6–10 years                                                             90
their demographic distributions as follows:                                         11–15 years                                                            71
                                                                                    16–20 years                                                            16
 Gender                                                Headcount                    >= 21 years                                                            25
 Female                                                            201              Total                                                                 401
 Male                                                              200
                                                                                    Employment Status                                           Headcount
 Total                                                             401
                                                                                    Permanent Employee                                                    379
 Position Level                                        Headcount                    Contract Employee                                                      22
 Senior Executive Vice President (SEVP) and                                         Total                                                                 401
                                                                     6
 Director
 Executive Vice President (EVP)                                      5
 Senior Vice President (SVP)                                        17
 Vice President (VP)                                                36
 Assistant Vice President (AVP)                                     49
 Senior Manager (SMgr)                                              44
 Manager (Mgr)                                                      40
 Assistant Manager (AMgr)                                           49
 Senior Officer (SO)                                                45
 Officer (O)                                                        40
 Senior Assistant (SAsst)                                           37
 Assistant (Asst)                                                   33
 Non-Clerical (NC)                                                   0
 Total                                                             401




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 65
Page 68
Information Technology




                                     Extensive utilisation of information technology systems has become a robust pillar
                                                for the Bank's sustainable transformation in the digital era.




QNB Indonesia is placing itself on a stronger footing in the                        Antasena for integrated reporting, SLIK for financial
Indonesian banking landscape in part through an                                     information inquiries, and PPATK for suspicious
extensive utilisation of information technology (IT) across                         transactions reporting.
its processes. This is further underpinned by three                                 All IT initiatives of the Bank are grounded upon an acute
intertwining components: robust infrastructure, a powerful                          attention to customer data privacy and security. The Bank
technology stack, as well as user awareness and competence.                         has set a stringent policy with respect to data protection
In 2023, the Bank was focused on leveraging IT capabilities                         and infrastructure integrity. The Bank’s entire IT
to automate manual processes, so that existing systems                              infrastructure is maintained on premise, with adequate
can be augmented, while overall efficiency and                                      backup systems in place within the Business Continuity
productivity improvements can be achieved. The Bank’s                               Plan to be activated at the event of a disruption to the main
expansion of process automation has been done within the                            system. This ensures seamless operations throughout the
framework of minimising errors and enhancing employee                               Bank’s network.
workflows, intended to benefit everyone within the Bank’s                           Meanwhile, all digital assets, including customer data, are
lean organisation structure.                                                        stored in a fully encrypted form and secured by an array of
In light of the Bank’s more intensive efforts to                                    cybersecurity measures. These protection measures are
strengthen its project delivery capabilities, existing                              constantly updated to guard the Bank’s assets from cyber
operational systems in the Bank were upgraded and                                   threats, which have been proliferating both in number and
optimised, with certain systems consolidated into a                                 variety in recent years. The IT Division has been actively
unified platform for a more assured control. Furthermore,                           and consistently promoting awareness among the Bank’s
a dedicated Project Delivery Sub-division was formed in                             employees regarding cybersecurity through a range of
2023 to expedite relevant processes by working together                             campaigns and training.
with other teams within the Bank, and oversee the quality                           While issues of data security and privacy will remain
of project execution.                                                               a key point of attention for the Bank in the years to come,
The IT Division also plays a crucial role in ensuring the                           IT initiatives in 2024 will be focused on process
Bank’s compliance with regulatory reporting and auditing                            automation acceleration, technology stack streamlining,
requirements, by developing and maintaining applications                            and supportability. These initiatives will set the Bank on a
using protocols that are aligned with the prevailing                                path of sustainable growth and empower it with
standards applicable in Indonesia and best practices in                             the expertise it needs to thrive in Indonesia’s increasingly-
commercial banking. These include Bank Indonesia’s                                  digitised financial ecosystem.




66 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights        Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




Financial Analysis
Statement of Financial Position

 (in million Rupiah)

                                                                                                                                              Change

 Description                                                                2023                   2022                   Total           Percentage

 ASSETS
 Cash                                                                     24,445                 33,354                 (8,909)              (26.71%)
 Current Accounts with Bank Indonesia                                    543,920               919,797               (375,877)               (40.87%)
 Current Accounts with Other Banks
    Related Parties                                                          282                    338                     (56)             (16.57%)
    Third Parties                                                        183,822               148,042                   35,780                24.17%
    Less: Allowance for Impairment Losses                                    (15)                  (33)                       18               54.55%
 Current Accounts with Other Banks – Net                                 184,089               148,347                   35,742                24.09%
 Placements with Bank Indonesia and Other Banks                       1,092,008              1,032,898                   59,110                 5.72%
 Derivative Receivables                                                        11                   108                     (97)             (89.81%)
 Acceptance Receivables
    Third Parties                                                                -             188,512               (188,512)             (100.00%)
    Less: Allowance for Impairment Losses                                        -                (217)                     217              100.00%
 Acceptance Receivables – Net                                                    -             188,295               (188,295)             (100.00%)
 Securities Purchased under Agreement to Resell                       2,977,202              3,072,222                 (95,020)               (3.09%)
 Loans
    Related Parties                                                        1,976               493,666               (491,690)               (99.60%)
    Third Parties                                                     5,954,448              9,168,584             (3,214,136)               (35.06%)
    Sub-Total                                                         5,956,424              9,662,250             (3,705,826)               (38.35%)
    Less: Allowance for Impairment Losses                              (507,139)             (406,127)               (101,012)               (24.87%)
 Loans – Net                                                          5,449,285              9,256,123             (3,806,838)               (41.13%)
 Securities
    Third Parties                                                       389,952                514,182               (124,230)               (24.16%)
    Sub-Total                                                           389,952                514,182               (124,230)               (24.16%)
    Less: Allowance for Impairment Losses                                        -                (195)                     195              100.00%
 Securities – Net                                                       389,952                513,987               (124,035)               (24.13%)
 Prepayments                                                              33,035                22,687                   10,348                45.61%
 Deferred Tax Assets – Net                                              280,354                272,500                    7,854                 2.88%
 Fixed Assets and Right-of-Use-Assets
    Net of Accumulated Depreciation of Rp296,756 and
                                                                        212,916                275,398                 (62,482)              (22.69%)
    Rp293,951 as of 31 December 2023 and 2022, respectively
 Intangible Assets
    Net of Accumulated Depreciation of Rp104,519 and
                                                                          59,892                57,148                    2,744                 4.80%
    Rp92,209 as of 31 December 2023 and 2022, respectively
 Foreclosed Assets                                                      250,416                665,046               (414,630)               (62.35%)
 Other Assets                                                           255,960                259,177                  (3,217)               (1.24%)
 Total Assets                                                        11,753,485             16,717,087             (4,963,602)              (29.69%)


 LIABILITIES AND EQUITY
 LIABILITIES
 Liabilities Payable on Demand                                            12,555                24,028                 (11,473)              (47.75%)




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 67
Page 70
Financial Analysis (Continued)
 (in million Rupiah)

                                                                                                                            Change

 Description                                                           2023              2022               Total       Percentage

 Deposits from Customers
    Related Parties                                                  80,145             97,411           (17,266)          (17.72%)
    Third Parties                                                 6,259,058         10,507,213        (4,248,155)          (40.43%)
    Sub-total                                                     6,339,203         10,604,624        (4,265,421)          (40.22%)
 Deposits from Other Banks
    Related Parties                                                     276                 22               254          1154.55%
    Third Parties                                                     1,556              7,280            (5,724)          (78.63%)
    Sub-total                                                         1,832              7,302            (5,470)          (74.91%)
 Acceptance Payables                                                      -             26,336           (26,336)         (100.00%)
 Derivative Payables                                                  1,838                 90              1,748         1942.22%
 Securities Sold Under Repurchase Agreements                        385,051                  -           385,051                  ~
 Borrowing                                                                -          1,000,000        (1,000,000)         (100.00%)
 Obligation for Post-Employment Benefits                             67,187             68,066              (879)           (1.29%)
 Accruals and Other Liabilities                                     254,370           333,222            (78,852)          (23.66%)
 Total Liabilities                                                7,062,036         12,063,668        (5,001,632)          (41.46%)


 EQUITY
 Share Capital par value of Rp250 (whole Rupiah)
 per share Authorised Capital 40,000,000,000 shares as of
 31 December 2023 and 2022 respectively
                                                                  8,789,512          5,109,171          3,680,341           72.03%
 Issued and Fully Paid Capital 35,158,048,365 and
 20,436,685,984 shares as of 31 December 2023 and 2022
 respectively
 Additional Paid-in Capital – Net                                  (33,588)           (30,150)            (3,438)          (11.40%)
 Advanced Capital                                                     3,652          3,683,926        (3,680,274)          (99.90%)
 Fair Value Reserve – Net                                              (61)             28,183           (28,244)         (100.22%)
 Retained Earnings (Deficit)
 Appropriated                                                         6,396              6,396                  -                  -
 Unappropriated                                                 (4,074,462)        (4,144,107)            69,645              1.68%
 Total Equity                                                     4,691,449          4,653,419            38,030             0.82%
 Total Liabilities and Equity                                    11,753,485         16,717,087        (4,963,602)          (29.69%)


Assets
Total assets of the Bank stood at Rp11.75 trillion as at 31 December 2023, 29.69% lower than the amount recorded as at 31 December
2022. The decline was due to a significant reduction in loan disbursements, whose total reached Rp5.96 trillion in 2023, down
38.35% or Rp3.71 trillion, from 2022.
The main contributors to total lending by the end of 2023 were services, manufacturing, construction, as well as trading, restaurant,
and hotel businesses. The Bank continued to exercise utmost prudence and thus had been very selective on lending to clients.
There was also a 40.87% drop, amounting to Rp375.88 billion, in the amount of current accounts with Bank Indonesia, from the
end of 2022.
Liabilities
Total liabilities at the end of 2023 were Rp7.06 trillion, which was 41.46% lower than the Rp12.06 trillion recorded at the end of
2022.
The Bank’s liabilities primarily comprised third party deposits from customers, amounting to Rp6.26 trillion. This figure was
40.43% less than the Rp10.51 trillion in 2022.




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All other components of liabilities decreased in comparison to their 2022 values, except for securities sold under repurchase
agreements, which stood at Rp385.05 billion as at the end of 2023, whereas the value one year prior was nil.
Equity
In 2023 the Bank conducted Rights Issue VII with total proceeds amounting to Rp3.68 trillion, resulting in the increase in issued
and fully paid capital from 20,436,685,984 shares as at 31 December 2022 to 35,158,048,365 shares as at 31 December 2023.
This brought the Bank’s share capital amount to Rp8.79 trillion as at the end of 2023, 72% higher than Rp5.11 trillion as at the end
of 2022.
Net equity was comparatively unchanged from 2022, increasing slightly by Rp38.03 billion or 0.82% to Rp4.69 trillion as at the
end of 2023. The increase in equity was primarily owing to the Bank's success in recording profit in 2023.

Statement of Profit or Loss
 (in million Rupiah)

                                                                                                                                              Change

 Description                                                                2023                   2022                   Total           Percentage

 OPERATING INCOME AND EXPENSES
 Interest Income                                                         944,701               863,896                   80,805                 9.35%
 Interest Expense                                                      (440,803)             (431,896)                  (8,907)               (2.06%)
 Net Interest Income                                                     503,898               432,000                   71,898                16.64%
 OTHER OPERATING INCOME
 Fees And Commission – Net                                                63,006                 68,127                 (5,121)               (7.52%)
 Trading Income – Net                                                     19,895                 21,034                 (1,139)               (5.42%)
 Others                                                                  163,011               180,294                 (17,283)               (9.59%)
 Total Other Operating Income                                            245,912               269,455                 (23,543)               (8.74%)
 OTHER OPERATING EXPENSES
 Personnel Expenses                                                    (289,816)             (280,414)                  (9,402)               (3.35%)
 General and Administrative Expenses                                   (209,734)             (202,517)                  (7,217)               (3.56%)
 Provision for Impairment Losses on Financial Assets                   (136,468)             (613,732)                 477,264                 77.76%
 Loss on Sale of Financial Assets                                       (39,668)                         -             (39,668)                        ~
 Others                                                                  (4,875)                (5,524)                     649                11.75%
 Total Other Operating Expenses                                        (680,561)           (1,102,187)                 421,626                 38.25%
 Profit (Loss) Before Income Tax                                          69,249             (400,732)                 469,981               117.28%
 Income Tax (Expense) Benefit                                                    -                       -                     -                       -
 Profit (Loss) for the Year                                               69,249             (400,732)                 469,981               117.28%
 OTHER COMPREHENSIVE INCOME
 Fair Value Changes of Securities Measured at Fair Value
                                                                        (36,210)                 25,100                (61,310)            (244.26%)
 Through Other Comprehensive Income
 Income Tax related to Items that would be Reclassified to
                                                                           7,966                (5,522)                  13,488              244.26%
 Profit or Loss
 Remeasurements of Obligation for Post-Employment
                                                                             508                10,288                  (9,780)              (95.06%)
 Benefits
 Income Tax related to Items that would not be Reclassified
                                                                           (112)                (2,263)                 (2,151)              (95.05%)
 to Profit or Loss
 Other Comprehensive Income (Loss), Net of Tax                          (27,848)                27,603                 (55,451)            (200.89%)
 Total Comprehensive Income (Loss) for the Year                           41,401             (373,129)                 414,530               111.10%
 Basic Profit (Loss) per Share                                               2.50               (24.28)                       27             110.30%




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 69
Page 72
Financial Analysis (Continued)
Net Interest Income
The amount of net interest income in 2023 increased by 16.64% to Rp503.90 billion, indicating continuous growth in the Bank’s
business and operations. The rise in interest income by 9.35% to Rp944.70 billion was the main driver of the increase in income,
which amounted to Rp863.90 billion in 2022.
Meanwhile, interest expense paid to depositors increased by 2.06% or Rp8.91 billion, from Rp431.90 billion in 2022 to Rp440.80
billion in 2023.
Other Operating Income
The Bank recorded total other operating income of Rp245.91 billion in 2023, 8.74% lower than in 2022. This was mainly due to
the lower amount of loans disbursed in 2023.
Other Operating Expense
In 2023, the Bank recorded a slight increase of 3.35% in personnel expenses, from Rp280.41 billion in 2022 to Rp289.82 billion,
while general and administrative expenses rose by a similar margin, namely 3.56%, from Rp202.52 billion to Rp209.73 billion
within the same period.
In 2023, the Bank made substantial progress in improving the quality of its lending. Consequently, its provision for impairment
losses on financial assets decreased significantly to Rp136.47 billion, marking a 77.76% reduction from the previous year’s figure.
This enhancement has positively affected the Bank’s total operating expenses.
Total other operating expenses in 2023 were Rp680.56 billion, showing a 38.25% decrease from the Rp1.10 trillion in 2022.
Profit Before Income Tax
In 2023, the Bank achieved a financial turnaround and reported a profit before income tax of Rp69.25 billion. This figure contrasted
with a loss of Rp400.73 billion in 2022.
Profit for the Year
The Bank did not have any income tax benefit or expense owing to its accumulated losses from the previous year. However, the
year 2023 marked the first time in eight years that the Bank recorded profit, amounting to Rp69.25 billion, while in 2022,
it recorded loss for the year of Rp400.73 billion.
Comprehensive Income for the Year
The Bank recorded other comprehensive loss – net of tax amounting to Rp27.85 billion in 2023 as a result of the fair value losses
of securities measured at fair value through other comprehensive income.
With this, the Bank’s total comprehensive income for the year reached Rp41.40 billion in 2023, a striking turnaround from
having booked Rp373.13 billion in total comprehensive loss for 2022.
Thus, basic profit per share in 2023 was Rp2.50, in contrast to a basic loss per share of Rp24.28 in 2022.

Statements of Cash Flows
 (in million rupiah)
                                                                                                                           Change
 Description                                                           2023               2022                 Total    Percentage
 Cash Flows From Operating Activities                               587,672         (1,942,042)         2,529,714          130.26%
 Cash Flows From Investing Activities                               128,992            422,690          (293,698)         (69.48%)
 Cash Flows From Financing Activities                            (1,027,519)           870,226        (1,897,745)        (218.07%)
 Net Increase (Decrease) In Cash and Cash Equivalents             (310,855)          (649,126)               338,271        52.11%
 Effect of Foreign Exchange                                          20,903             19,077                 1,826         9.57%
 Cash and Cash Equivalents, at Beginning of the Year              2,134,429          2,764,478          (630,049)         (22.79%)
 Cash and Cash Equivalents, at End of the Year                    1,844,477          2,134,429          (289,952)         (13.58%)


Cash Flows from Operating Activities
At the end of 2023, the Bank recorded a net cash inflow from operating activities amounting to Rp587.67 billion. In 2022, the Bank
recorded a net cash outflow for operating activities of Rp1.94 trillion. This change in operational cash flows was primarily
caused by a substantially lower amount of loans disbursed by the Bank in 2023.
Cash Flows from Investing Activities
Net cash inflow from investing activities in 2023 amounted to Rp128.99 billion, obtained mostly from receipts from securities
reaching maturity. The amount recorded in 2022 was Rp422.69 billion.




70 — PT Bank QNB Indonesia Tbk Annual Report 2023
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Cash Flows from Financing Activities
The Bank recorded a net cash outflow for financing activities in 2023 of Rp1.03 trillion, primarily due to the prepayment of a loan
from Bank BCA. In contrast, in 2022 the Bank recorded net cash inflow from financing activities amounting to Rp870.23 billion.
Cash Position at End of Year
The Bank’s cash and cash equivalents at the end of the year 2023 amounted to Rp1.84 trillion due to the cash flow movements
mentioned. This reflects a 13.58% decline from its position on 31 December 2022.

Key Financial Ratios
 Description                                                                                      2023                    2022               Change
 CAPITAL
 Capital Adequacy Ratio (CAR)                                                                    62.23                   38.59                61.26%


 PRODUCTIVE ASSETS
 Productive Assets & Non-Productive Assets (Non-Performing Assets) to Total
                                                                                                  2.38                     4.32             (44.85%)
 Productive Assets & Non-Productive Assets
 Non-Performing Productive Assets to Total Productive Assets                                      0.37                     0.29               25.53%
 Allowance for Impairment Losses to Productive Assets                                             4.15                     3.26               27.38%
 Gross Non-Performing Loans (NPL)                                                                 0.77                     0.38             102.48%
 Net NPL                                                                                          0.09                     0.08                7.56%


 PROFITABILITY
 Return on Assets (ROA)                                                                           0.48                   (2.42)             119.81%
 Return on Equity (ROE)                                                                           1.65                 (11.74)              114.06%
 Net Interest Margin (NIM)                                                                        3.83                     3.19               20.03%


 LIQUIDITY
 Macroprudential Intermediation Ratio (MIR)                                                      93.94                   91.11                 3.11%


 COMPLIANCE
 Percentage of Legal Lending Limit Violation
    Related Parties                                                                                     -                     -                       -
    Non-Related Parties                                                                                 -                     -                       -
 Minimum Reserve Requirement (Rupiah)                                                            10.08                     9.30                8.39%
 Minimum Reserve Requirement (Foreign Currency)                                                   4.01                     4.05              (1.04%)
 Net Open Position                                                                                0.04                     0.15             (73.24%)


Solvency
The Bank continued to uphold strong capital reserves to ensure its long-term business continuity, showcasing its robust capability
to expand its operations in the near future.
By the end of 2023, the Bank had improved its solvency significantly as a result of decreased total risk-weighted assets.
The Bank’s Capital Adequacy Ratio (CAR) therefore stood at 62.23%, much higher than 38.59% as at the end of 2022.
Liquidity
The Macroprudential Intermediation Ratio (MIR) increased from 91.11% at the end of 2022 to 93.94% at the end of 2023, indicating
improved operational performance and liquidity of the Bank.
Profitability
As the Bank recorded profit in 2023, its profitability ratios demonstrated a significant turnaround, from negative values to positive
ones. The Bank’s ROA and ROE, in 2022 amounting to –2.42% and –11.74%, respectively, became 0.48% and 1.65% in 2023.




                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 71
Page 74
Financial Analysis (Continued)
Receivables Collectability                                         The Bank’s profitability ratios showed an improved
Gross NPL ratio increased from 0.38% in 2022 to 0.77% in           performance in 2023, as reflected in the ROA, ROE and NIM
2023. Following this, net NPL ratio increased slightly from        ratios, which were recorded at 0.48%, 1.65% and 3.83%
0.08% to 0.09% during the same period. Despite this,               respectively.
the Bank has remained stringent and cautious in lending to         On the liquidity side, the Bank’s MIR reflects liquidity of
customers.                                                         93.94%, higher than the target and the regulator’s
                                                                   minimum requirement of 84%.
Capital Structure and Management Policy on
                                                                   The Bank posted core (Tier 1) capital of Rp4.19 trillion and
Capital Structure
                                                                   supplementary (Tier 2) capital of Rp55.52 billion at the end
In accordance with OJK Regulation No. 34/POJK.03/2016,             of 2023, with a CAR of 62.23%. Thus, the Bank has
the Bank’s capital structure consists of core capital (Tier I)     succeeded in exceeding the CAR target set in the 2023
and supplementary capital (Tier II). Core capital consists of      Revised Business Plan as well as the minimum regulatory
paid-up share capital and additional capital reserves, while       limit from the regulator (8%), showing a very high level of
supplementary capital refers to capital instrument in              capital adequacy in 2023.
the stock form or other capital instrument that fulfill
the requirements as well as general reserves of provision          Dividend Policy
for asset losses over productive assets.                           The Bank maintains a policy to distribute dividends from
In the assessment of capital adequacy, the Bank uses               the net profit as a means to shore up shareholder value.
the Standardised Approach to measure capital adequacy for          Details regardingthe amount and procedures of the
Credit Risk and Market Risk, whereas for Operational Risk,         dividend distribution are set at the GMS. In 2023, the Bank
the Bank uses the Basic Indicator Approach.                        did not distribute any dividend, in accordance with the
This assessment refers to the provisions of OJK Circulars          2023 AGMS resolution.
No. 11/SEOJK.03/2018, No. 38/SEOJK.03/2016, and
No. 24/SEOJK.03/2016.                                              Management and Employee Stock Option
                                                                   Programme
The disclosure of the Bank’s capital structure complies with
OJK Regulation No. 37/POJK.03/2019 and OJK Circular                Up to the end of the reporting period, the Bank had never
No. 9/SEOJK.03/2020. The Bank has complied with all                conducted a management or employee stock option program.
capital requirements set by OJK throughout the year.
                                                                   Share and Bonds Buyback
Capital Adequacy Ratio (CAR) was maintained at a healthy
                                                                   Up to the end of the reporting period, the Bank had never
level, 62.23% as at the end of December 2023. This shows the
                                                                   conducted any buyback of its shares or bonds.
Bank still has a strong ability to expand.
The Bank has applied a policy related to capital structure         Commitments and Contingencies
composition that can facilitate internal level of business risk,   As at 31 December 2023, the Bank had entered
while remaining in compliance with the minimum                     commitment and contingencies regarding unused loan
requirements specified in OJK regulations.                         facilities and Letters of Credit (L/C) with various parties, as
Further explanation on the Bank’s capital structure and            detailed below:
management policy on capital structure is presented in Note        1. The Bank’s unused loan facilities (uncommitted) granted
3.f to the Financial Statements, on pages 69–71.                      to customers as at 31 December 2023 and 2022 amounted
                                                                      to Rp3.90 trillion and Rp3.00 trillion, respectively.
Material Commitments for Investment in
Capital Goods                                                      2. As at 31 December 2023, the term of Letters of Credit
                                                                      (L/C) were approximately 1 month to 3 months, while the
In the reporting period up to 31 December 2023, the Bank did          term of bank guarantees issued ranged between 3 month
not have any material commitments for investment in                   to 3 year. As at 31 December 2022, the term of Letters of
capital goods.                                                        Credit (L/C) were approximately 1 month to 6 months,
Material Information and Facts after                                  while the term of bank guarantees issued ranged between
                                                                      1 month to 1 year.
the Accountant’s Report
                                                                   Explanation on the Bank’s commitments and contingencies
There are no significant events that occurred after
                                                                   is presented in Note 39 to the Financial Statements,
31 December 2023 and until the financial statements were
                                                                   on pages 129.
issued that would require adjustments to or disclosure of in
the financial statements.

Comparison of 2023 Targets and Achievements
The Bank has succeeded in posting a net profit of Rp69.25
billion, which was Rp20.95 billion higher than the target set
at Rp48.30 billion. The Bank’s net profit achievement was
driven by net interest income and operational expenses, as
well as interest performance that surpassed the target.
Achievement of most financial ratios was in line with and
even better than the targets set, especially profitability,
liquidity and capital adequacy ratios.


72 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights     Reports to Stakeholders     Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




Use of Public Offering Proceeds
In 2023, the Bank conducted Rights Issue VII with Preemptive Rights on 14,721,362,381 shares. Proceeds from the Rights Issue VII,
less all related fees, have been used according to the plan for the use of proceeds as stipulated in the Prospectus, and stated in the
Bank Report dated 15 January 2024 and summarised in the table below.
(Rp million)
                                      Actual Public Offering                Planned Use of                Realisation of Use of
                                            Proceeds                           Proceeds                         Proceeds

                                                                        Working                             Working                      Remaining
    Type of                                                            Capital for                         Capital for
                  Effective      Total                                                                                                     Public
    Public                                      Public                  Business                            Business
                    Date        Public                        Net                                                                         Offering
   Issuance                                    Offering              Development            Total        Development          Total
                               Offering                     Proceeds                                                                      Proceeds
                                                 Fees                 in the Form                         in the Form
                               Proceeds
                                                                        of Credit                           of Credit
                                                                       Expansion                           Expansion

Rights Issue      28 April
                                3,680,341       3,437       3,676,904    3,676,904       3,676,904          340,049         340,049        3,336,855
VII                2023


Other Material Financial Information
Throughout 2023, the Bank did not perform any material transactions or activities related to investment, expansion, divestment,
merger, acquisition, or debt/capital restructuring.

Information on Material Transaction Containing Conflict of Interest and/or Transaction with
Affiliated Parties
Transaction with Related Parties
The following table describes the Bank’s significant transactions with related parties during 2023:


   Related Party                          Nature of Relationship                                         Type of Transactions

 Ooredoo Asia          Affiliated company                                                                   Demand deposits

 Qatar National                                                                           Deposits from other banks, Standby Letter of
                       Parent company
 Bank (Q.P.S.C.)                                                                                  Credit, and Bank Guarantee

                       Entity controlled by the same government as the
 PT Indosat Tbk                                                                                 Demand deposits and time deposits
                       ultimate shareholder, State of Qatar


Further explanation on the Bank’s transactions with related parties is presented in Note 38 to the Financial Statements, on pages
127–128.

Tax Compliance
Throughout 2023, the Bank fulfilled all of its tax obligations in accordance with the applicable taxation regulations.

Affiliated Transactions with Controlling Shareholders
Throughout 2023, the Bank did not directly perform any affiliated transactions with its controlling shareholder.

Changes in Regulations and Their Impacts
There were no changes to the regulations taking place in 2023 that had a significant impact on the Bank’s performance.

Changes in Accounting Policy and Their Impacts
On 1 January 2023, the Bank began to apply the new Statement of Financial Accounting Standards (“SFAS”). The Bank has updated
its accounting policy to reflect these standards and their interpretation. The Indonesian Financial Accounting Standards Board of
IAI (DSAK-IAI) has issued several accounting standards that took effect on 1 January 2023.
The new accounting standards and their impacts on financial statements are elaborated further in Note 2.ad to the Financial
Statements, on page 43.




                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 73
Page 76
2024 Strategy and Projections




                         At the Bank, encouraging collective thinking and open communication brings about significant advances
                                                   to how we operate as a trusted financial institution.




The global economy is expected to experience a steady                            to maintain its LDR and RIM at above 84% as per required
growth in 2024, with the world’s GDP set to expand by 3.1%,                      by the authorities, and record NIM of above 3% and book
at a pace similar to in 2023. The Bank anticipates that after                    positive net profit in 2024.
a period of consolidation, it is poised for a strategic leap                     As the Bank moves forward, it will continue to target key
forward in the years 2024 to 2026. Given the global                              market segments, strengthen the Corporate & Institutional
economy’s growth trajectory and a possibility of soft                            Banking services, and foster strategic partnerships
landing following a period of persistent heightened                              throughout all productive channels. Internal Key
inflation, QNB Indonesia will leverage this alongside                            Performance Indicators (KPIs) will be rigorously managed
regional economic dynamism to solidify its standing as an                        to ensure alignment with bank-wide and divisional targets.
established financial institution in Indonesia.
                                                                                 Innovation will be at the heart of the Bank’s operations, with
With the foundation secured and momentum building after                          a focus on magnifying the positive impacts of the business
two successful years, the Bank projects a continued                              and operational models to elevate customer experience and
emphasis on employee-centric culture and value creation to                       satisfaction. Digital platforms will be further improved to
drive productivity and profitability. By harnessing the core                     deliver seamless and efficient banking services.
values of integrity, teamwork, and accountability,
the Bank aims to navigate through the intricacies of                             QNB Indonesia resolves to promote prosperity and
the financial landscape and unlock new opportunities                             sustainable growth. As part of the QNB Group, the Bank will
for growth and customer satisfaction.                                            capitalise on the Group’s leading presence in the Middle
                                                                                 East, Africa, and Southeast Asia to amplify its business
The strategic direction for 2024–2026 includes a                                 results in the long run. Through strategic initiatives and a
commitment to excellence, underpinned by high-value                              culture of excellence, the Bank will strive to exceed the
business frameworks and strong governance. These pillars                         expectations of customers and stakeholders while
will support the Bank’s medium-term targets of                                   contributing significantly to the country’s economic progress.
sustainable business and financial performance.
Particular attention will be paid to upholding and growing                       These strategies are in line with QNB Group’s aspiration is
a healthy portfolio, optimising resources, and developing                        to be one of the leading Middle East, Africa and South East
competitive products aligned with market demands.                                Asia (MEASEA) banks while maintaining their number
                                                                                 one position in MEA. Their strategy is complemented by
In the short term, the Bank seeks to focus on sustaining                         two pillars, first, to leverage innovation as a strategic
financial performance and managing non-performing                                enabler and second, to embed sustainability and ESG
loans (NPL) to ensure profitability and compliance with                          practices into their business and operating model to make a
the regulations. Moreover, capital adequacy will be held at                      positive contribution to the societies. Hence, going
above 20%, to meet immediate and future challenges,                              forward, QNB Indonesia will continue to be a an important
while the LCR and NSFR kept well above regulatory                                component of QNB Group’s strong network, and support its
requirements. Armed with strong liquidity, the Bank seeks                        vision of being a leading bank in MEASEA.


74 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders     Company Profile       Management Discussion and Analysis          Corporate Governance         Sustainability




                              QNB Indonesia is always ready to serve valued customers with products and services
                                          that cater most effectively to their their financial needs.



                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 75
Page 78
Corporate
Governance
Page 79
QNB Indonesia forges itself to serve as a useful hub for the financial
needs of its customers, empowering a diverse range of sectors
for Indonesia's prosperity.
Page 80
GCG Foundations and Policy
The Bank applies the principles of good corporate                    8. OJK Circular No. 13/SEOJK.03/2017 dated
governance (GCG) in its day-to-day activities through                    17 March 2017 on Implementation of Corporate
comprehensive internal policies and regulations aimed at                 Governance for Commercial Banks;
ensuring and enhancing its corporate governance quality.             9. OJK Circular No. 14/SEOJK.03/2017 dated
                                                                         17 March 2017 on Financial Soundness Assessment for
Foundation of Corporate Governance                                       Commercial Banks;
Implementation                                                       10. OJK Regulation No. 29/POJK.04/2016 dated 29 July 2019
GCG implementation will support the achievement of                       on Annual Report of Issuers or Public Companies;
business targets, in terms of performance, profitability,            11. OJK Regulation No. 37/POJK.03/2019 dated
and added value for all stakeholders, while also ensuring                19 December 2019 on Transparency and Publication of
long-term business sustainability. The Bank regularly makes              Bank Reports;
adjustments to stay abreast with the best GCG practices.             12. OJK Circular No. 9/SEOJK.03/2020 dated 30 June 2020
                                                                         on Transparency and Publication of Commercial Bank
GCG implementation by the Bank refers to the standards and
                                                                         Reports;
guidelines set by OJK as well as the applicable laws and
                                                                     13. OJK Circular No. 16/SEOJK.04/2021 dated 29 June 2021
regulations, among others:
                                                                         on Form and Content of Annual Report of Issuers or
1. Law No. 10/1998 on the Amendment to Law                               Public Companies;
   No. 7/1992 on Banking, as subsequently amended and                14. OJK Regulation No. 14/POJK.04/2022 dated
   most recently with the Law No. 4/2023 on Financial                    22 August 2022 on Periodical Financial Statement
   Sector Development and Strengthening;                                 Submission by Issuer or Public Company; and
2. Law No. 40/2007 on Limited Liability Companies;                   15. OJK Regulation No. 17 dated 14 September 2023 on
3. OJK Regulation No. 21/POJK.04/2015 dated                              Implementation of Corporate Governance for
   16 November 2015 on Guidelines for Implementation of                  Commercial Banks.
   Corporate Governance for Public Companies;
                                                                     In addition to the above, the following internal charters serve
4. OJK Circular No. 32/SEOJK.04/2015 dated
                                                                     as a guideline for the Bank’s corporate governance
   17 November 2015 on Guidelines for Implementation of
                                                                     measures:
   Corporate Governance for Public Companies;
5. OJK Regulation No. 45/POJK.03/2015 dated                          1. Board of Commissioners’ Charter;
   23 December 2015 on Implementation of Governance in               2. Board of Directors’ Charter;
   Providing Remuneration for Commercial Banks;                      3. Remuneration and Nomination Committee Charter;
6. OJK Regulation No. 4/POJK.03/2016 dated                           4. Audit Committee Charter;
   3 February 2016 on Financial Soundness Assessment for             5. Risk Oversight Committee Charter; and
   Commercial Banks;                                                 6. Good Corporate Governance Charter.
7. OJK Circular No. 40/SEOJK.03/2016 dated
   26 September 2016 on the Implementation of Governance
   in Providing Remuneration for Commercial Banks;




GCG Implementation Objectives
The main objectives of GCG implementation in every business activity of the Bank at all levels of the organisation related to the
Bank and Shareholders’ interests are as follows:
1. Achieving sustainable growth through a management system based on five basic principles of good governance;
2. Empowering functions and independence of each organ in the Bank, namely the General Meeting of Shareholders (GMS), the
   Board of Commissioners (BoC), and the Board of Directors (BoD);
3. Encouraging Shareholders, members of the BoC, and members of the BoD to make decisions and actions based on moral
   principles and strong compliance with laws and regulations;
4. Encouraging awareness of social responsibility, especially on environmental and social interests of the communities in
   which the Bank operates; and
5. Boosting the Bank’s competitiveness, both in national and international scope, to enhance market confidence that can
   encourage investment flow and ensure a sustainable national economic growth.




78 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders     Company Profile    Management Discussion and Analysis          Corporate Governance         Sustainability




GCG Principles
The Bank upholds these five principles of GCG:
1. Striving to ensure its business activities are carried out with the principle of openness;
2. Having key performance indicators consistent with the corporate values, business goals, and strategies so as to reflect the
   Bank's accountability;
3. Building on prudent banking practices and ensuring compliance with all applicable provisions to demonstrate its responsibility;
4. Promoting decision-making that is independent, objective, and free of conflict of interest; and
5. Continuing to take stakeholders’ interests into account based on fairness principle.
Based on the above five GCG principles, the Bank’s corporate governance framework becomes as follows:


     GCG Principle                      Description                                            Implementation

     Transparency         Preserve and maintain                  1. Disclosure of information in a timely, appropriate, clear, accurate
                          objectivity in business practice,         and comparable manner, making it accessible to stakeholders in
                          the Bank shall provide material           accordance with their rights.
                          and relevant information that is       2. Disclosure of information which includes but not limited to the
                          easily accessible and                     Bank’s vision, mission, business targets and strategy, financial
                          comprehensible by stakeholders.           condition, composition and compensation of the management,
                          To take the initiative to disclose        controlling shareholders, shares owned by members of the BoD
                          not only issues mandated by laws          and the BoC and their family members in the company and other
                          and regulations, but also other           companies, risk management system, oversight and internal
                          information deemed necessary by           control system, GCG structure and mechanism and its level of
                          shareholders, creditors, and              compliance, and important events that may affect the condition
                          other stakeholders for their              of the Bank.
                          decision-making.                       3. Fulfillment of provisions on confidentiality in accordance with
                                                                    laws and legislations, professional confidentiality, and personal
                                                                    rights.
                                                                 4. Formal written policies are proportionally communicated to
                                                                    stakeholders.

    Accountability        Account for its performance            1. Clear definition of job descriptions and responsibilities of each
                          transparently and fairly and to           organ and all employees that are in line with the Bank’s vision,
                          manage business in a proper and           mission, corporate values, and strategy.
                          measurable manner, such that it        2. Assurance that all of the Bank’s organs and employees have the
                          is aligned with the interest of the       qualifications that fit their respective duties, responsibilities,
                          Bank by also considering the              and roles in GCG implementation.
                          interest of shareholders and other     3. Assurance of the existence of an effective internal control system
                          stakeholders. Accountability is a         within the Bank.
                          prerequisite to achieve                4. Establishment of performance indicators for all members of the
                          sustainable performance.                  BoD and the BoC as well as employees that are consistent with
                                                                    the Bank’s objectives, and the presence of a reward and
                                                                    punishment system.
                                                                 5. Assurance that each organ of the Bank and all employees uphold
                                                                    business ethics and code of conduct in executing their duties
                                                                    and responsibilities.

    Responsibility        Abide by laws and regulations          1. Assurance that all of the Bank’s organs apply prudent banking
                          and fulfil its responsibility to the      principles and comply with the laws and regulations, its articles
                          communities and environment               of association, and internal regulations.
                          for the purpose of maintaining         2. Fulfillment of social responsibility by having an awareness of
                          long-term sustainability of the           the environmental and society interests of the communities in
                          business and to be recognised as a        which the Bank operates through an appropriate planning and
                          good corporate citizen.                   implementation to address the issues.




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 79
Page 82
GCG Principles (Continued)
     GCG Principle                          Description                                      Implementation
     Independency             Accelerate the implementation         1. Assurance that each organ precludes any party’s domination, is
                              of the GCG principles by operating       free from the influence from any certain interest, avoids conflict
                              independently with an appropriate        of interest and any influence or pressure, so that decision-making
                              balance of power, in such a manner       can be carried out objectively.
                              that no single organ shall dominate   2. Assurance that each organ exercises its functions and duties in
                              the other and that no intervention       accordance with the Articles of Association and also the laws
                              from other party shall exist.            and regulations, not dominating each other and or shifting
                                                                       responsibility to others.
        Fairness              Always consider the interests of      1. Opportunities for stakeholders to provide input and opinions in
                              shareholders and other                   the interest of the Bank, and establish access to the Bank’s
                              stakeholders based on a fairness         information in accordance with the transparency principle and
                              principle in conducting business         within the scope of their respective capacities.
                              activities.                           2. A fair and equitable treatment to stakeholders in accordance with
                                                                       benefit and contribution given to the Bank.
                                                                    3. Equal opportunity in recruitment of employees, in career
                                                                       development and for employees to carry out their duty
                                                                       professionally.




GCG Roadmap
The Bank maintains a roadmap to lead itself along a continuous improvement in GCG implementation. This roadmap contains
three strategic phases, namely: Corporate Governance Commitment, Good Governed Company, and Good Corporate Citizen.
Each of the above phases represents a range of processes that include formulation, implementation, as well as monitoring and
evaluation on a continuous basis, in order to achieve excellence in GCG practices.


QNB Indonesia’s GCG Roadmap




 1Corporate Governance
                                                     2
                                                     Good Governed
                                                                                                  3
                                                                                                  Good Corporate
  Commitment                                         Company                                      Citizen

  Commitment                                         System                                       Culture
  The Bank complies with GCG                         The Bank runs an excellent                   The Bank is accepted as part of the
  guidelines, both mandatory                         operation through a disciplined and          community through a holistic CSR
  and advisory.                                      sound implementation of internal             approach.
                                                     control, risk management, and
                                                     whistleblowing system.




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2023 Highlights    Reports to Stakeholders   Company Profile   Management Discussion and Analysis          Corporate Governance         Sustainability




GCG Mechanism
The Bank relies on various key mechanisms that have been established
to ensure that GCG principles are implemented in its daily operations.
These mechanisms are applied broadly, and they range from a set of
charters to comprehensive internal policies.
The Bank’s key GCG mechanisms for implementing GCG in the Bank include: Good Corporate Governance Charter, Code of Conduct,
Board of Commissioners Charter, Directors' Charter, Remuneration and Nomination Committee Charter, Audit Committee Charter,
Risk Monitoring Committee Charter, Conflict of Interest and Insider Dealing Policy, QNB Indonesia Compliance Collated Policy,
Internal Audit Policy, Financial Accounting Policy, Risk Management Policy, Funding Policy, Information Technology Policy,
Human Resources Policy, Sustainability Policy, Information Security Policy, Whistleblowing Policy, Anti-Fraud Policy,
Anti-Bribery and Corruption Policy, and Investment Policy.
Following through these GCG mechanisms will not only ensure consistency and efficacy of GCG performance in the Bank when
dealing with its stakeholders, but also help the Bank achieve the following long-term goals:
1. Reduction of the cost of capital;
2. Increase in shareholder value; and
3. Stronger support from stakeholders for the Bank to operate and grow sustainably.



GCG Programmes in 2023
The GCG Guideline in Indonesian Banking Industry                         5. Implementation of Sustainable Finance in its operations.
stipulates that commitment to implementation of GCG has                  6. Application of consumer protection by paying attention
an important role for a Bank to achieve its business goals                  to the principles of openness and transparency
and generate sustainable benefits. Specifically, the                        of information; fair and responsible treatment;
application of policies and code of conduct must be                         protection of customer assets, privacy, and data; as well
enforced for each person at the Bank. The Bank therefore                    as effective handling and completion of complaints.
has complied with the GCG basic principles, reflecting its               7. Compliance with the commitments made the Bank to OJK
strong commitment, including:                                               and/or other authorised supervisory authority.
1. A clear and realistic vision and mission.                             8. Effective risk management in implementing the Bank’s
2. Corporate values that reflect a good moral attitude in                   products by ensuring conformity with the Bank’s
   doing business.                                                          strategy, Business Plan, and statutory provisions.
3. Board Charters, which contain work guidelines for the                 In 2023, the Bank focused on carrying out the following
   BoC and BoD.                                                          GCG-related programmes and activities::
4. A set of business ethics and code of conduct formulated               1. Update on the Bank’s organisation structure.
   by involving GCG organs and supporting work units.                    2. Update on the BoC Charter.
   Business ethics and code of conduct shall be enforced in              3. Update on the BoD Charter.
   a continuos and consistent manner to build a robust                   4. Update on Committees under the BoC: Risk Oversight
   corporate culture which manifest the organisation’s                      Committee and Remuneration and Nomination
   core values.                                                             Committee.
5. Internal policies, which can ensure rights and obligation             5. Update on Committees under the BoD.
   of all parties to create a conducive workplace.                       6. Compliance with OJK, BI, and other legislation
6. Whistleblowing system, which can accommodate reports,                    provisions by strengthening the Culture of Risk
   complaints, inputs, and corrective feedbacks from                        Management Compliance continuously, carried out by
   employees and other stakeholders.                                        increasing the effectiveness of the Compliance Culture
In the future, the Bank will continue to improve its GCG                    implementation.
implementation with the latest GCG practices and                         7. Monitoring of the Bank’s commitments to the regulator.
standards as well as in line with its operational policies.
Initiatives that will be continuously implemented are:
1. Enhancement of transparency via website and annual
   reporting based on industry best practices.
2. Design and development of a management information
   system to support business and control processes.
3. Financial literacy.
4. Dissemination of GCG practices.




                                                                                                    PT Bank QNB Indonesia Tbk Annual Report 2023 — 81
Page 84
GCG Assessment
The implementation of GCG principles is an important factor in assessing a bank’s soundness level in addition to the bank’s risk
profile, profitability and capital strength as stipulated in OJK Circular No. 13/SEOJK.03/2017 and OJK Regulation No. 17/2023 on
the Implementation of Governance for Commercial Banks. To implement the principles of Good Corporate Governance, the Bank
must ensure that the five basic principles of GCG have been implemented by conducting self-assessments periodically, or once
every six months, which includes at least 16 factors for assessing GCG implementation.
GCG self-assessment was carried out comprehensively and has been grouped into a governance system consists of three aspects
of governance: governance structure, governance process and governance outcome.
Based on the results of the Bank’s GCG self-assessment for 2023, as reflected in the GCG Assessment Matrix, the Bank received
rank 2 with the “Good” rating, the same as 2022’s achievement. The following table contains details of the self-assessment
results as follows:


                                                                                                                                   Rank
  No      Scoring Criteria
                                                                                                                           2022    2023
   1      Implementation of Duties, Responsibilities and Authorities of the Board of Commissioners                            2        2
   2      Implementation of the Duties, Responsibilities and Authorities of the Board of Directors                            2        2
   3      Completeness and Implementation of Committee Duties                                                                 2        2
   4      Handling Conflicts of Interest                                                                                      1        1
   5      Implementation of the Compliance Function                                                                           2        2
   6      Implementation of the Internal Audit Function                                                                       2        2
   7      Implementation of the External Audit Function                                                                       1        1
   8      Implementation of Risk Management including Internal Control System                                                 2        2
   9      Provision of Funds to Related Parties and Provision of Large Funds                                                  2        2
   10     Transparency of Financial and Non-Financial Conditions, GCG Implementation Reports, and Internal Reporting          1        1
   11     Bank Strategic Plan                                                                                                 2        2
          Composite Score based on the Bank’s self-assessment                                                                 2        2


With the enactment of POJK No. 17 of 2023 on                                   In 2023, the Bank implemented a number of programs and
the Implementation of Governance for Commercial Banks,                         activities related to GCG, as follows:
the Bank commits to continously improving GCG                                  1. Renewal of the Bank’s organisational structure.
implementation with the latest GCG practices and                               2. Updates to the BoC Charter.
standards related to:                                                          3. Updates to the BoD Charter.
> Providing Remuneration;                                                      4. Updates to committees under the BoC:
> Integrity of Reporting and Information Technology                               a. Risk Oversight Committee
  Systems;                                                                        b. Remuneration and Nomination Committee
> Shareholder Aspect;                                                          5. Updates to committees under the BoD, including:
> Implementation of Anti-Fraud Strategy including                                 a. HR Committee
  Anti-Bribery;                                                                   b. IT Committee
> Implementation of Sustainable Finance, including the                            c. Risk Management Committee
  implementation of Social and Environmental                                      d. Asset & Liability Committee
  Responsibility, as well as                                                      e. Credit Committee
> Implementation of governance within the Bank’s                                  f. Purchasing Committee
  business groups.                                                                g. New Product & Activities Committee
Initiatives to be implemented on an ongoing basis are:                            h. Fraud Oversight Committee
                                                                                  i. Operational Risk Committee
1. Increase transparency in GCG implementation through                            j. Credit Policy Committee
   websites and annual reports based on best industry                             k. Early Alert Committee
   practices.                                                                     l. AML CFT Committee
2. Development of information management designs and                              m. UCan Product Committee
   systems to support business and internal control                               n. Governance Risk Compliance Committee
   processes.                                                                     o. Credit Remedial Committee
3. Financial literacy.                                                         6. Ensure the Bank’s compliance with the provisions of
4. Dissemination and socialisation of GCG practices.                              the OJK, Bank Indonesia and other laws and regulations
5. Implementation of Sustainable Finance in operational                           by continuously strengthening the Compliance Risk
   activities.




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   Management culture by increasing the effectiveness of                          Negative factors in aspects of the Bank’s governance
   implementing the compliance culture.                                           structure are:
7. Ensure the Bank’s compliance with Data Protection.                             In principle, all critical positions including positions in
8. Monitoring the Bank’s commitment to regulators.                                the IT division have been filled.
Summary of Governance Self-Assessment                                             However, there are several positions required as follows:
Composite Score Calculation                                                       a. Director of Corporate & Institutional Banking
Based on the self-assessment working paper on the                                   In an effort to maintain and improve performance at
implementation of Bank QNB Indonesia’s governance for                               the Corporate & Institutional Banking Directorate,
2023, the rating reflects that the Bank’s Management has                            during the recruitment process, the Director of
implemented good governance. This is represented in the                             Treasury & Financial Institution, Nicolas Alix Groene
adequate fulfillment of governance principles and if there                          (Nick Groene), was also assigned as Director of
are weaknesses in the implementation of governance                                  Corporate & Institutional Banking starting on
principles, these weaknesses will be immediately followed                           1 December 2023.
up and resolved by Bank’s Management by taking into                               b. Chief Credit Officer (CCO)
account Bank’s prudential principles.
                                                                                    To fill the CCO vacancy, since 21 October 2023, Ms. Lia
1. Governance Structure                                                             Indriani was assigned as Act. CCO.
  Positive factors in the aspects of Bank’s governance                         2. Governance Process
  structure are:
                                                                                  Positive factors in the Bank’s governance process
  a. The Bank’s organisational structure is in accordance                         aspects are:
     with applicable regulations, namely in terms of
     composition, independence, appointment/dismissal                             a. The implementation of duties, functions and
     and quality of human resources for the BoC, BoD,                                responsibilities of all lines and functions in the Bank
     committees under the BoC, including the                                         has been carried out well, including implementing
     completeness of independent parties, Compliance                                 transparency for the BoC and the BoD as well
     Working Units, Internal Audit Unit, and the Risk                                as Bank’s employees, implementing a culture
     Management Unit, namely:                                                        of compliance, implementing whistleblowing
     > The number, composition, criteria and independence                            and anti-fraud, increasing risk awareness and adequate
        of the BoD have met OJK regulations.                                         internal control.
     > The number, composition, criteria and independence                         b. The Bank has also implemented periodic transparency
        of the Bank’s BoC members have complied with OJK                             of financial and non-financial conditions to
        regulations.                                                                 stakeholders in accordance with applicable
     > The formation, structure and membership of the                                regulations, implemented transparency of Bank
        Audit Committee, Risk Oversight Committee, and                               product information, and implemented consumer
        Remuneration and Nomination Committee are in                                 protection through adequate and easily accessible
        accordance with applicable regulations.                                      media for customers and the wider public.
     > BoC, Committees under the coordination of the BoC,                         c. There are no transactions that contain conflicts
        BoD, Senior Management and Executive Officers                                of interest and no decisions are made that could harm/
        and employees have taken steps to avoid conflicts of                         reduce the Bank’s profits. If this was found, it will be
        interest.                                                                    properly administered and documented based on
  b. The Bank has various policies, systems and procedures                           applicable regulations.
     for resolving conflicts of interest as stated in the Articles                Negative factors in the Bank’s governance process
     of Association, Good Corporate Governance Charter, BoC                       aspects are:
     and BoD Charters, Self Assessment Policy for the                             The resolution of Bank credit problems has not been
     Performance of the BoC and BoD, Conflict of Interest and                     fully resolved and is reflected with continued high ratio
     Insider Dealing Policy, Disclosure and Transparency                          of Low Quality Loans (KKR/LQL), Foreclosed Assets
     Policy, Stakeholder’s Rights Policy, Policies and                            (AYDA), and concentration of core debtors, however, the
     Procedures for the Nomination, Appointment,                                  Bank continues to strive to:
     Replacement and/or Dismissal of Members of the BoC,
     BoD and Committees Reporting to the BoC, Audit                               a. Develop healthy credit and ensure that KKR/LQL does
     Committee Charter, Charter of Rules and Work Guidelines                         not experience deterioration.
     for the Risk Monitoring Committee, Remuneration and                          b. As of November 2023, of the 65 AYDAs, 55 AYDAs
     Nomination Charter, QNB Values, Directors’ Decree on                            (85%) have been sold, the remaining unsold AYDAs
     Gift and Entertainment Procedure, policies related to the                       are 10 AYDAs (15%) with a value of Rp250,415,607,899
     implementation of risk management and internal control                          or 2.04% of total assets as of November 2023. The
     as well as having policies and procedures to regulate the                       Bank continues to strive to reduce this percentage by
     implementation of anti-fraud strategies, Whistleblowing                         making maximum sales efforts, bearing in mind that
     Policy, Fraud Investigation Policy, Sanctions Policy, and                       some of the remaining unsold AYDAs is under the
     other internal policies.                                                        supervision of curators and has low marketability.
                                                                                  c. For the concentration of core debtors which is still
                                                                                     high, Bank continues to strive to grow loans that are
                                                                                     healthier and more spread-out.



                                                                                                          PT Bank QNB Indonesia Tbk Annual Report 2023 — 83
Page 86
GCG Assessment (Continued)
3. Governance Outcome
  Positive factors in the Bank’s governance outcome aspects are:
  a. Regarding repeated findings, the Bank followed up by carrying out comprehensive refinements, including improving processes,
     products and increasing the risk awareness of Bank employees through dissemination and training. The follow-up process is
     carried out thoroughly and continuously.
  b. Bank has strived to achieve the best performance, It recorded profit in 2023 and is believed to be sustainable and will continously
     improve.
  Negative factors in the Bank’s governance outcome aspects are:
  a. There is a decrease in total assets and total credit as of September 2023, however, the remaining outstanding is of better quality,
     with this the Bank can continue to strive in growing back again a sustainable total credit.
  b. There are still fines imposed by regulators from both OJK and Bank Indonesia, but they are not significant and the root cause
     can be immediately corrected by the Bank.




GCG Structure
General Meeting of Shareholders                                                Holding of 2023 GMS
The General Meeting of Shareholders (GMS) is a governance                      In 2023 the Bank conducted 2 GMS, namely the EGMS on
body of the Bank that retains the highest authority not                        16 February 2023 and the AGMS on 30 May 2023.
conferred on the Board of Commissioners (BoC) or the Board of                  The processes involved in the EGMS are as follows:
Directors (BoD), within the limits stipulated under the Limited
Liability Company Law and/or the Articles of Association.                      Notification to OJK                    : 3 January 2023
                                                                               GMS Announcement                       : 10 January 2023
The GMS comprises the Annual GMS (AGMS) and                                    GMS Invitation                         : 25 January 2023
other GMS. The AGMS shall be held at the latest within                         GMS Implementation Date                : 16 February 2023
6 months since the end of the financial year, or under other                   GMS Resolution Announcement            : 20 February 2023
conditions or timelines as stipulated by the OJK. The other                    GMS Minutes Submission                 : 24 February 2023
GMS, namely the Extraordinary GMS (EGMS), may be held
at any time as deemed necessary.


The 2023 EGMS was attended physically by 1 member of the BoC and 5 members of the BoD as well as shareholders and their proxies
representing 18,918,266,831 shares (92.57% of total shares with valid voting rights that had been issued by the Bank).
The table below provides the summary of the meeting agendas as well as their implementation status.


 Agenda                                                                                                                   Implementation
                       Agenda                                           EGMS Resolution
   #                                                                                                                          Status

 First         Additional issued            I.   Approved the increase of issued and paid-up capital by granting          Implemented in
               and paid-up capital               Preemptive Rights VII (“PMHMETD VII”) a maximum of                            2023
               by granting                       14,721,515,640 (fourteen billion seven hundred twenty one million five
               Pre-emptive Rights                hundred fifteen thousand six hundred and forty) new shares, with a
               (PMHMETD VII)                     nominal value of Rp250.00 (two hundred and fifty rupiah)
               and changes to                    per share. The certainty of the number of shares and implementation
               article 4 paragraphs              price will be disclosed in the PMHMETD VII Prospectus, which will
               2 and 3 of the                    be made available to the entitled shareholders in accordance with
               Company's Articles                applicable laws and regulations.
               of Association.              II. Authorising the BoD to take all necessary actions in connection with
                                                the PMHMETD VII of the Company, including but not limited
                                                to fulfilling the requirements specified in the applicable laws and
                                                regulations including POJK 32/2015 Juncto POJK 14/2019, which
                                                includes among others:
                                                 1. Determining the certainty of the number of shares issued in the
                                                    context of PMHMETD VII;




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 Agenda                                                                                                                                  Implementation
                       Agenda                                               EGMS Resolution
   #                                                                                                                                         Status

                                                    2. Determining the ratios of Shareholders entitled to Preemptive Rights;
                                                    3. Determining the exercise price in the framework of PMHMETD VII;
                                                    4. Determining the certainty of the date of the Register of
                                                       Shareholders (DPS) entitled to Preemptive Rights;
                                                    5. Determining the certainty of the use of funds;
                                                    6. Determining the certainty of PMHMETD VII schedule;
                                                    7. Signing the documents required for PMHMETD VII including notary
                                                       deeds and their amendments and/or additions.
                                                 III. Approved changes to Article 4 paragraph 2 and paragraph 3 of the
                                                      Company’s Articles of Association in connection with the
                                                      implementation of PMHMETD VII, namely:
                                                    a. Additional issued and paid-up capital after the implementation of
                                                       PMHMETD VII is a maximum of 14,721,515,640 (fourteen billion
                                                       seven hundred twenty one million five hundred fifteen thousand six
                                                       hundred forty) new shares, with a nominal value of Rp250.00 (two
                                                       hundred and fifty rupiah) per share to a maximum of
                                                       Rp8,789,550,406,000.00 (eight trillion seven hundred eighty nine
                                                       billion five hundred fifty million four hundred six thousand Rupiah).
                                                    b. Authorised the BoC of the Company to state the realization of the
                                                       number of shares issued in the PMHMETD VII and determine the
                                                       certainty of the amount of capital in connection with the
                                                       additional issued and paid-up capital of the Company in a separate
                                                       Notary deed including to administer notifications to the Ministry
                                                       of Law and Human Rights of the Republic of Indonesia as decided
                                                       at the Meeting.
                                                 IV. Giving power of attorney to the BoD of the Company to take all
                                                     necessary actions to:
                                                    a. Registering the Company’s shares in collective custody in accordance
                                                       with the regulations of the Indonesian Central Securities Depository.
                                                    b. Listing the Company’s shares which are shares that have been issued
                                                       and fully paid up on the Stock Exchange with due observance of the
                                                       applicable laws and regulations in the Capital Market sector.


The processes involved in the AGMS are as follows:                                   The 2023 AGMS was attended physically by 3 members of
Notification to OJK                               : 11 April 2023                    the BoC and 4 members of the BoD as well as shareholders
AGMS Announcement                                 : 18 April 2023                    and their proxies representing 18,918,529,831 shares
AGMS Invitation                                   : 8 May 2023                       (92.57% of total shares with valid voting rights that
AGMS Implementation Date                          : 30 May 2023                      had been issued by the Bank).
AGMS Resolution Announcement                      : 5 June 2023                      The table below provides the summary of the meeting
AGMS Minutes Submission                           :12 June 2023                      agendas as well as their implementation status.


 Agenda                                                                                                                                  Implementation
                       Agenda                                               AGMS Resolution
   #                                                                                                                                         Status

 First            To approve the                 1. Accepted and approved the Company’s Annual Report for the fiscal year                 Implemented in
                  Annual Report of                  ending 31 December 2022, including the Report of the BoD and the Report                    2023
                  the Company,                      on the Supervision of the BoC;
                  including the BoD’s
                  Report, the BoC’s
                  Supervisory Report,
                  and to ratify the
                  Financial




                                                                                                                PT Bank QNB Indonesia Tbk Annual Report 2023 — 85
Page 88
GCG Structure (Continued)
 Agenda                                                                                                                    Implementation
                       Agenda                                           AGMS Resolution
   #                                                                                                                           Status

                                            2. Received and approved the Company’s Financial Statements for the
                                               fiscal year ending 31 December 2022 which have been audited by Amir
                                               Abadi Jusuf, Aryanto, Mawar & Partners Public Accountants according
                                               to their Report Number: 00017/2.1030/AU.1/07/ 0501-1/1/II/2023
                                               dated 10 February 2023, with “fairly, in all material respects,
                                               the financial position of PT Bank QNB Indonesia Tbk as of
                                               31 December 2022, and its financial performance and cash flows for
                                               the year ended, in accordance with Indonesian Financial Accounting
                                               Standards”, thereby freeing the members of the Company’s Directors
                                               and BoC from the responsibility and all liabilities (acquit et de charge)
                                               for the management and supervision actions that have been carried out
                                               during the 2022 financial year, as long as their actions are stated in
                                               the Financial Statements for the 2022 fiscal year and are not criminal,
                                               provided that the exemption does not apply to members of the BoD who
                                               have been proven or have acted outside their authority (ultra vires) and
                                               have violated the principle of sound banking prudence.

 Second        To appoint a                 1. Approved the delegation of authority to the BoC of the Company to           Implemented in
               Public Accountant               appoint and determine the honorarium of the Independent Public                   2023
               and/or Public                   Accountant in carrying out an audit of the Company’s Financial
               Accounting Firm to              Statements for the fiscal year ending 31 December 2023 with criteria
               audit the Company’s             as follows:
               Financial                       > The Public Accountant must be authorised and listed by Otoritas
               Statements for                    Jasa Keuangan (OJK);
               the Financial Year              > The Public Accountant has the competence to meet the deadline
               of 2023 and                       assigned by the Company;
               determine the                   > The appointment must align with the recommendation from the
               honorarium for the                Company’s Audit Committee;
               Public Accountant               > The honorarium and other appointment criteria for Public Accountant
               and other terms                   must be fair; and
               ofappointment.                  > The appointment is not against the prevailing laws and regulation.
                                            2. Authorised the BoC to determine the honorarium and other
                                               requirements for the Public Accountant, and determine a replacement
                                               Public Accountant from another Public Accountant Office. In case the
                                               appointed Public Accountant is unable to complete an audit of the
                                               Company’s Financial Statements for financial year ending
                                               31 December 2023 due to any reasons.

 Third         To determine of              Approved the delegation of authority to Qatar National Bank (Q.P.S.C.)         Implemented in
               honorariums/                 as the Controlling Shareholder of the Company to determine the amount               2023
               salaries and other           of salary, fees and other allowances of the members of the BoD and the
               allowances for               BoC of the Company for the 2023 financial year.
               the members of the
               BoC and BoD of the
               Company for the
               fiscal year of 2023.




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 Agenda                                                                                                                                   Implementation
                        Agenda                                               AGMS Resolution
   #                                                                                                                                          Status

 Fourth           To approve any                  1. Approved the resignation of Mr. Geoffry Nugraha from his position as                  Implemented in
                  change(s) to the BoD               Director. The resignation is effective on 30 May 2023.                                     2023
                  of the Company.                 2. After the effective resignation of Mr. Geoffry Nugraha as Director on
                                                     30 May 2023, the composition of the BoD and BoC of the Company
                                                     since the closing of the Meeting is as follows:
                                                    Board of Directors
                                                    > President Director             : Mr. Haryanto Suganda
                                                    > Director                       : Mr. Windiartono Tabingin
                                                    > Director                       : Mr. Nicolas Alix Groene (Nick Groene)
                                                    > Director                       : Mr. Soemenggrie Jongkamto
                                                    Board of Commissioners
                                                    > President Commissioner   : Ms. Fatma Abdulla SS Al-Suwaidi
                                                    > Commissioner             : Mr. Khalid Ahmed Al-Sada
                                                    > Independent Commissioner : Mr. Djoko Sarwono
                                                    > Independent Commissioner : Mr. Muhammad Anas Malla
                                                    The terms of office of the BoD and BoC of the Company above are for
                                                    the terms of office which will expire at the close of the Annual
                                                    General Meeting of Shareholders of the Company which will be held
                                                    in 2024, without prejudice to the right of the General Meeting of
                                                    Shareholders to dismiss them at any time.
                                                  3. Approved to grant power and authority to the Directors of the
                                                     Company, with the right of substitution, to state the Meeting resolution
                                                     in the fourth agenda in a deed drawn before a Notary, and subsequently
                                                     deliver notification to the authorities, and take all and every action
                                                     needed in connection with such decision in accordance with applicable
                                                     laws and regulations.


Implementation of 2022 GMS Resolutions                                                Bank is No. 1/04/001.03/V/2023, ratified on 31 May 2023.
No resolutions from the GMS held in 2022 were implemented                             This charter stipulates the structure and membership;
in 2023, as all the resolutions from the 2022 AGMS had                                criteria for membership; term of office; duties and
been fully implemented in 2022.                                                       responsibilities; authorities; work ethics; work values;
                                                                                      meetings; reporting and responsibility; as well as
Board of Commissioners                                                                transparency of the BoC.
The Board of Commissioners (BoC) is a governance body of                              Appointment and/or Replacement or Dismissal
the Bank that is tasked to provide general and specific forms                         Every recommendation for the appointment and/or
of supervision in accordance with the Articles of Association                         replacement or dismissal of any member of the BoC submitted
and provide advice to the Board of Directors (BoD).                                   to the GMS must take into account the recommendation of
Members of the BoC are individuals that satisfy                                       the Remuneration & Nomination Committee. Appointment
the requirements for OJK approval, i.e., having integrity,                            and/or replacement of any member of the BoC puts forth the
competence, and upstanding reputation throughout their                                composition of the BoC in terms of professionalism,
term of office.                                                                       independence, alignment of competences, and diversity, all of
                                                                                      which are specifically required for discharging the duties and
Board of Commissioners’ Charter
                                                                                      responsibilities of the BoC.
The BoC has a working guideline (Charter) that binds each
                                                                                      Procedures for BoC members’ appointment and/or
member of the BoC. The most recent BoC Charter of the
                                                                                      replacement or dismissal are detailed in the BoC Charter.




                                                                                                                 PT Bank QNB Indonesia Tbk Annual Report 2023 — 87
Page 90
GCG Structure (Continued)
Composition & Membership
The Bank, with 4 members in its BoC, has fulfilled the provisions for BoC composition, i.e., consisting of minimum 3 members and
maximum the same number of BoD members. Two commissioners are domiciled in Indonesia. Two commissioners are
Independent Commissioners.

BoC Composition as at 31 December 2023

                                                                                                      BI or OJK
       Name                 Position                Most Recent Legal Basis of Appointment                              Term of Office
                                                                                                      Approval

                                                            AGMS on 19 August 2021                                        June 2021–
 Fatma Abdulla          President                                                                                        August 2021
                                                         (Initial appointment: EGMS on                4 June 2021
 Al-Suwaidi             Commissioner
                                                               17 December 2020)                                          2021–2024

                                                            AGMS on 19 August 2021                                        2019–2021
 Khalid Ahmed
                        Commissioner                     (Initial appointment: AGMS on              11 October 2019
 Al-Sada                                                                                                                  2021–2024
                                                                   26 June 2019)

                                                            AGMS on 19 August 2021                                        2015–2018
                        Independent
 Djoko Sarwono                                           (Initial appointment: EGMS on            11 November 2015        2018–2021
                        Commissioner
                                                                  9 October 2015)                                         2021–2024

                                                                                                                          2011–2012

                                                            AGMS on 19 August 2021                                        2012–2015
 Muhammad               Independent
                                                         (Initial appointment: EGMS on            24 November 2011        2015–2018
 Anas Malla             Commissioner
                                                               16 September 2011)                                         2018–2021
                                                                                                                          2021–2024


Training                                                                      were reappointed with the consideration that they had
The Bank always strives to enhance its BoC members with                       signed a Statement Letter stipulating that the supervisory
the necessary tools to carry out their relevant functions,                    function has been and will be carried out independently,
and this is pursued among others through regular and                          and the resolution of the BoC meeting stipulating that the
ongoing training. Some BoC members participated in                            persons concerned act independently and the their
various training and development programmes in 2023.                          statement of independence have been accepted at the GMS.
These are listed in their respective profiles in the Board of                 Ownership of Shares by Members of the BoC
Commissioners Profiles section in this Annual Report, on                      BoC members disclose their share ownership amounting to
pages 46–49.                                                                  5% or more in the Bank and other banks or companies
Independence                                                                  domiciled domestically or abroad. The report is updated
Independent Commissioners are members of the BoC who                          annually, and immediately following a change in the share
do not have financial, management, share ownership and/                       ownership, to the authorities. As at 31 December 2023,
or family relationships with members of the BoD,                              no BoC members held more than 5% of the paid-up capital
other members of the BoC, and/or controlling shareholders                     of the Bank or that of other banks, non-bank financial
including the ultimate controlling shareholder,                               institutions, or other companies in Indonesia or abroad.
or any relationships with the Bank that could affect their                    Concurrent Positions
capabilities to act independently.                                            Members of the BoC are prohibited from holding concurrent
Independent Commissioners must have adequate knowledge                        positions in accordance with statutory provisions. There
in the banking sector that is relevant to their position and                  are several positions that are not considered concurrent
experience in the banking and/or financial sector.                            positions as per OJK regulations, as long as they do not
The number of Independent Commissioners in the Bank is                        result in the person concerned neglecting their duties and
2, in accordance with the mandatory provisions of at least                    responsibilities as a member of the BoC. The positions held
50% of the total members of the BoC. Both of them have                        by each member of the BoC at the end of 2023 are listed in
served as Independent Commissioners for more than                             their respective profiles in the Board of Commissioners
2 consecutive terms. The two Independent Commissioners                        Profiles section of this Annual Report, on pages 46–49.




88 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders        Company Profile    Management Discussion and Analysis          Corporate Governance         Sustainability




Financial or Familial Relations of BoC Members
The table below shows the familial and financial relationships between each BoC member and other BoC members, BoD members,
and the Controlling Shareholder including the Ultimate Controlling Shareholder:


                                            Family Relationship with                                  Financial Relationship with

                                                                    Controlling                                                        Controlling
           Name                    BoC                   BoD                                    BoC                    BoD
                                                                    Shareholder                                                        Shareholder

                             Yes            No     Yes         No   Yes        No         Yes         No         Yes         No        Yes         No

 Fatma Abdulla
                                            V                  V                V                        V                   V          V
 Al-Suwaidi

 Khalid Ahmed
                                            V                  V                V                        V                   V          V
 Al-Sada

 Djoko Sarwono                              V                  V                V                        V                   V                     V

 Muhammad
                                            V                  V                V                        V                   V                     V
 Anas Malla


Duties & Responsibilities                                                         and enacts the proper comprehension programmes
The BoC is tasked with supervising in the interests of                            required to disseminate the compliance and risk
the Bank over the policies and course of management                               management culture, including for IT risk and
by the BoD, providing advice to the BoD and holding                               cybersecurity risk;
responsibility for such supervision, in accordance with the                   7. External Audit and Financial Services: Nominating
Bank’s aims and objectives as stipulated in the provisions                        independent external auditors to the GMS and
of laws and regulations, the Articles of Association, and                         supervising their performance based on the input
GMS resolutions. The complete duties of the BoC are stated                        from the Audit Committee;
in the Bank’s Articles of Association and the                                 8. Stakeholder Management: Supervising BoD’s exercise
BoC Charter.                                                                      of responsibilities towards shareholders and other
                                                                                  stakeholders and related parties within the Bank and
The main duties of the BoC relating to the main aspects are,                      the community at large;
among others:                                                                 9. Executive Responsibilities: Reviewing the Bank’s
1. General Duties: Conducting duties and responsibilities                         long-term strategy, annual business plan and budget,
   in good faith, as well as in an accountable and prudent                        performance in all aspects of business, and corporate
   manner;                                                                        social responsibility, including but not limited to
2. Corporate Governance: Ensuring the implementation of                           reviewing and approving the AML CFT policy, risk
   GCG in all aspects of the Bank’s business activities                           management policy (including IT risk and cybersecurity
   across all organisational levels and hierarchy;                                risk, credit policy, and credit restructuring policy); and
3. Implementation of Internal Audit Function: Ensuring that                   10. Formation of Committees: Establishing committees under
   the BoD develops and maintains an adequate, effective                          the BoC to assist the BoC effectively, communicating
   and efficient internal control system;                                         intensely with the committees, and supervising and
4. Strategic Decisions and Planning: Setting, developing,                         evaluating their work performance on a regular basis.
   and approving the strategies, plans, objectives, and                       Remuneration Structure, Policy, and Procedures
   main policies of the Bank, including but not limited to
   approving the Bank's risk management strategy                              In general, the Bank determines remuneration package by
   including for IT risk and cybersecurity risk;                              referring to the Bank’s internal policies, prevailing laws
5. Oversight, Control, and Supervision: Overseeing                            and regulations, industry comparison, and with taking
   the BoD and Senior Management through the BoD                              into account its performance in the current year. The
   Committees as part of the Bank’s checks and balances,                      amount of remuneration for BoC members is set based on
   and reviewing all decisions of the BoC Committees and                      their performance. According to the Bank’s Articles of
   BoD Committees, including but not limited to ensuring                      Association, salary or honorarium and other allowances
   the implementation of internal control framework system                    for the BoC members shall be established by the GMS.
   across the Bank, including internal audit, compliance,                     BoC remuneration procedure consists of several phases,
   risk management (including IT risk and cybersecurity                       which include formulation, analysis, proposal, and
   risk), and financial control;                                              establishment. The Remuneration and Nomination
6. Performance Evaluation: Setting and upholding                              Committee is the supporting organ that formulates the
   a self-assessment mechanism for evaluating the                             remuneration policy and proposal. The Committee gathers
   performance, competence, and efficacy of BoC and BoD                       information about remuneration standard for the position
   members in accordance with the provisions, including                       and similar industry in the market, as well as taking the
   but not limited to ensuring that the Bank maintains                        Bank’s performance under consideration.


                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 89
Page 92
GCG Structure (Continued)
Until the end of the reporting period, the Bank did not have any policy related to the provision of long term compensation in the
form of share option or other forms to anyone, including the BoC members.

                                                                                                      Amount Received in 1 Year in 2023
 Type of Remuneration and Facility
                                                                                                       Recipients Amount (million Rp)
 Remuneration (salary, bonuses, routine benefits, and other intangible facilities)                              2                 2,524
 Other tangible facilities (housing, transportation allowances, health insurance, and others)
                                                                                                                2                    54
 that can be owned and cannot be owned
 Total                                                                                                                            2,578



 Remuneration Received per Person per Year                                                                                  Recipients
 Above Rp5 billion                                                                                                                     -
 Above Rp2 billion up to Rp5 billion                                                                                                   -
 Above Rp1 billion up to Rp2 billion                                                                                                  2
 Above Rp500 million up to Rp1 billion                                                                                                 -
 Rp500 million or below                                                                                                                -



 Highest to Lowest Salaries                                                                                                      Ratio
 Ratio of Employees’ Highest Salary to Lowest Salary                                                                           1 : 38.19
 Ratio of Directors’ Highest Salary to Lowest Salary                                                                            1 : 2.13
 Ratio of Commissioners’ Highest Salary to Lowest Salary                                                                           1:1
 Ratio of Director’s Highest Salary to Employee’s Lowest Salary                                                                 1 : 2.31
 Ratio of Director’s Highest Salary to Commissioner’s Highest Salary                                                            1 : 5.72
 Ratio of Director’s Highest Salary to Commissioner’s Lowest Salary                                                             1 : 2.67


Meetings
The BoC is obliged to hold regular BoC meetings at least once every 2 months or whenever deemed necessary by members of the
BoC, or upon written request from members of the BoD, or from at least 1/10 of the total shares with valid voting rights. Joint
meetings between the BoC and the BoD is held periodically at least once every 4 months. All members of the BoC must physically
attend meetings at least twice a year. Non-Independent Commissioners who cannot physically attend meetings, can attend
face-to-face BoC meetings by utilising information technology, including video conference media or other electronic
face-to-face media.
In 2023, the BoC held a total of 6 meetings, and attended 5 joint meetings with the BoC and BoD.
The attendance of each member of the Board of Commissioners at the 2023 Board of Commissioners meeting is as follows:


 Name                                           Position          Physical Attendance      Video Conference   Percentage of Attendance
 Fatma Abdulla Al-Suwaidi              President Commissioner                        3                   3                       100%
 Khalid Ahmed Al-Sada                        Commissioner                            2                   4                       100%
 Djoko Sarwono                       Independent Commissioner                        6                    -                      100%
 Muhammad Anas Malla                 Independent Commissioner                        6                    -                      100%


The attendance of each BoC member in the BoC–BoD joint meetings in 2023 are as follows:


 Name                                           Position          Physical Attendance      Video Conference   Percentage of Attendance
 Fatma Abdulla Al-Suwaidi              President Commissioner                        2                   3                       100%
 Khalid Ahmed Al-Sada                        Commissioner                            2                   3                       100%
 Djoko Sarwono                       Independent Commissioner                        5                    -                      100%
 Muhammad Anas Malla                 Independent Commissioner                        5                    -                      100%




90 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders   Company Profile     Management Discussion and Analysis          Corporate Governance         Sustainability




Performance Assessment                                                    related divisions/work units, as well as through thorough
The BoC’s performance is assessed regularly every year.                   evaluations by each committee at the meetings, presented
                                                                          to the BoC.
Criteria or indicators used in evaluating the BoC’s
performance of duties and responsibilities are:                           > The Audit Committee had conducted its functions,
                                                                            duties, and responsibilities, among others to review the
> Assessment of the Supervisory Duties of the BoC as                        financial information to be published by the Bank to the
  reflected in the Annual Report, conducted by the                          authorities and/or the public. The Audit Committee had
  Shareholders at the GMS.                                                  furthermore reviewed the Bank’s compliance with the
> Self assessment through the Governance                                    laws and regulations related to the Bank’s business
  Implementation self assessment, encompassing the                          activities, including evaluating the performance of the
  Governance Structure, Governance Process, and                             Internal Audit division and Compliance directorate,
  Governance Outcome.                                                       evaluating the effectiveness of the audit performed by
> Self assessment of the execution of the BoC’s duties and                  the Public Accounting Firm, and supervising any case of
  responsibilities, encompassing the Membership                             fraud, operational risk, and compliance.
  Structure, Performance Assessment; Strategic Plan and
  Performance, as well as Management Interaction and                      > The Remuneration and Nomination Committee had
  Activities.                                                               conducted its functions, duties, and responsibilities
                                                                            to supervise the implementation of nomination and
Assessment of the BoC’s performance follows the below                       remuneration policies across all levels and hierarchy of
procedures/mechanisms:                                                      the organisation, starting from the BoC, the BoD, and all
1. Assessment of the BoC’s Performance by the GMS.                          employees, in line with the prevailing regulations.
   The BoC’s performance is evaluated by the Shareholders                 > The Risk Oversight Committee had conducted its duties
   at the AGMS, concurrent with the submission of                           and responsibilities for supervising and evaluating the
   the report of the BoC’s supervision, as stipulated                       implementation of risk management in the Bank.
   in the Bank’s Annual Report. The AGMS subsequently
   determines whether to accept and approve the Annual                    The BoC assessed that in light of the completion of all the
   Report for the previous financial year including                       duties and responsibilities of the committees of the BoC as
   the report of the BoC’s supervision and to provide full                previously stipulated, the frequency of meetings and
   acquittal and discharge (acquit et de charge) to the BoC               attendance in these meetings by the members, along with
   for the supervisory actions carried out during the                     these committees’ activity reports had shown that these
   previous financial year.                                               committees had performed their respective duties rather
                                                                          effectively.
2. Self assessment of the duties and responsibilities of the
   BoC through the preparation of the bank’s governance                   Board of Directors
   implementation self assessment.                                        The Board of Directors (BoD) is a governance body of the
   This method of assessment of the BoC’s performance                     Bank that is authorised to conduct, and fully responsible for,
   shall be submitted by the Bank to OJK every semester.                  the management of the Bank for the interest of the Bank,
   OJK shall subsequently conduct evaluation or assessment                aligned with the intents and purposes of the Bank as well as
   of the report of the bank’s governance implementation                  representing the Bank inside and outside the court of law in
   self assessment.                                                       accordance with the provisions of the Articles of Association.
3. Assessment of the BoC’s performance is also carried out                Members of the BoD are individuals that satisfy the
   through the preparation of self assessment of the                      requirements for OJK approval, i.e., having integrity,
   execution of duties and responsibilities of each member of             competence, and upstanding reputation throughout
   the BoC.                                                               their term of office.
Based on the above, the BoC’s performance assessment for                  Board of Directors’ Charter
2023 concluded that throughout 2023 the BoC had
optimally conducted the supervision of the BoD,                           The BoD has a working guideline (Charter) that binds each
GCG implementation, risk management, and compliance in                    member of the BoD. The most recent BoD Charter of the
the Bank. Despite the Bank delivered a satisfactory                       Bank is No. 1/04/002 Rev 2 was established on 31 May 2023.
performance in 2023, strengthening of performance                         This charter stipulates the structure and membership;
is required along all business lines.                                     membership criteria; term of office; duties and
                                                                          responsibilities; authorities; work ethics; work culture;
The assessment result is used as a reference and will be                  accountability; meetings; as well as reporting and
followed up in the form of improvements and action plans                  responsibility as well as transparency of the BoD.
for the BoC. The assessment result is expected to be used
as an input for improving the BoC’s performance on an                     Appointment and/or Replacement or Dismissal
ongoing basis.                                                            Every recommendation for the appointment and/or
Committees’ Performance Assessment                                        replacement or dismissal of any member of the BoD submitted
                                                                          to the GMS must take into account the recommendation of
In carrying out its duties and responsibilities, the BoC is               the Remuneration & Nomination Committee. Appointment
assisted by several committees of the BoC. These committees               and/or replacement of any member of the BoD puts forth the
are the Audit Committee, the Remuneration and Nomination                  composition of the BoD in terms of professionalism,
Committee, and the Risk Oversight Committee.                              independence, alignment of competences, and diversity, all of
Implementation of the committee’s duties was mainly                       which are specifically required for discharging the duties and
through the committee meetings, including by inviting                     responsibilities of the BoD.


                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 91
Page 94
GCG Structure (Continued)
Procedures for BoD members’ appointment and/or replacement or dismissal are detailed in the BoD Charter.
Composition & Membership
The Bank’s BoD, with its 4 members, has fulfilled the provisions for BoD composition, i.e., consisting of at least 3 members.
All of the Directors are domiciled in Indonesia.

BoD Composition as at 31 December 2023

                                                                                                    BI or OJK
       Name                 Position                Most Recent Legal Basis of Appointment                          Term of Office
                                                                                                    Approval

 Haryanto               President                                                                                       April
                                               EGMS on 23 December 2021                            22 April 2022
 Suganda                Director                                                                                      2022–2024

                        Corporate &
 Geoffry                Institutional          AGMS on 19 August 2021                                                 2019–2021
                                                                                                  11 October 2019
 Nugraha1               Banking                (Initial appointment: AGMS on 28 June 2019)                            2021–2024
                        Director

                                                                                                                      2012–2015
 Windiartono            Compliance             AGMS on 19 August 2021                                                 2015–2018
                                                                                                 25 February 2013
 Tabingin               Director               (Initial appointment: EGMS on 29 November 2012)                        2018–2021
                                                                                                                      2021–2024

                        Treasury &
 Nicolas Alix                                                                                                         2020-2021
                        Financial              AGMS on 19 August 2021
 Groene                                                                                           31 March 2021
                        Institution            (Initial appointment: EGMS on 17 December 2020)                        2021–2024
 (Nick Groene)
                        Director

 Soemenggrie            Finance
                                               AGMS on 19 August 2021                            18 November 2021     2021–2024
 Jongkamto              Director
1) Resigned effective from 30 May 2023



In 2023, there was a change to the composition of the Bank’s BoD, namely, the resignation of Geoffry Nugraha effective from
30 May 2023.
Training
The Bank always strives to enhance its BoD members with the necessary tools to carry out their relevant functions, and this is
pursued among others through regular and ongoing training. Training and competence development programmes participated by
the BoD members in 2023 are listed in their respective profiles in the Board of Directors Profiles section in this Annual Report,
on pages 42–45.
Newly appointed members of the BoD will be given guidance and overview of the Bank’s business activities in the form of Annual
Reports, Quarterly Financial Reports, the Bank Business Plan, BoD Charter, as well as adequate risk management training, as part
of the Bank’s induction programme for new BoD members. Such members of the BoD will also have discussion with other members
of the BoD, committees’ members, and attend meetings with the BoD and BoC.
Ownership of Shares by BoD Members
BoD members shall disclose their share ownership amounting to 5% or more in the Bank and other banks or companies domiciled
domestically or abroad. The report is updated annually, and immediately following a change in the share ownership,
to the authorities.
Members of the BoD, individually or collectively, are prohibited from owning shares in any other companies amounting to 25% or
more of the paid-up capital of these other companies. Exemption from share ownership is as determined by applicable
regulations.




92 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights      Reports to Stakeholders        Company Profile    Management Discussion and Analysis          Corporate Governance         Sustainability




Financial or Familial Relations of BoD Members
The table below shows the familial and financial relationships between each BoD member and other BoD members, BoC members,
and the Controlling Shareholder including the Ultimate Controlling Shareholder:


                                               Family Relationship with                                  Financial Relationship with

                                                                       Controlling                                                        Controlling
           Name                       BoC                   BoD                                    BoC                    BoD
                                                                       Shareholder                                                        Shareholder

                                Yes            No     Yes         No   Yes        No         Yes         No         Yes         No        Yes         No

 Haryanto Suganda                              V                  V                V                        V                   V                     V

 Geoffry Nugraha1                              V                  V                V                        V                   V                     V

 Windiartono
                                               V                  V                V                        V                   V                     V
 Tabingin

 Nicolas Alix Groene
                                               V                  V                V                        V                   V                     V
 (Nick Groene)

 Soemenggrie
                                               V                  V                V                        V                   V                     V
 Jongkamto
1) Resigned effective from 30 May 2023


Duties & Responsibilities                                                        4. Strategic Decisions and Planning:
The BoD is tasked with carrying out and being responsible                           a. Must submit to the BoC to determine and develop the
for the management of the Bank in accordance with the                                  Bank’s main strategies, plans, objectives and policies,
Bank’s aims and objectives as stipulated in the provisions                          b. Must seek approval from the BoC for the Bank’s
of statutory regulations, Articles of Association, and GMS                             Annual Budget and Business Plan (RBB) to ensure that
resolutions. The complete duties of the BoD are stated in the                          this is in line with long-term strategy and changes in
Bank’s Articles of Association and the BoD Charter.                                    the economy, markets and regulatory environment,
The main duties of the BoD are, among others:                                       c. Must seek approval from the BoC for the Bank’s capital
                                                                                       expenditure budget and all changes during the fiscal
1. General Duties: Must carry out duties and                                           year.
   responsibilities in good faith, with full responsibility                         d. Must seek approval from the BoC to approve the Risk
   and prudence and with due regard to applicable laws and                             Management strategy including IT risk and
   regulations and the Bank’s Articles of Association.                                 cybersecurity risk, as well as the overall Risk Appetite
2. Corporate Governance:                                                               and portfolio strategy approved by the Risk Oversight
                                                                                       Committee and review any changes in the risk
  a. Carry out Bank management for the benefit and in
                                                                                       management strategy or risk appetite that arise.
     accordance with the Bank’s aims and objectives and act
     as the leader in such management.                                           In addition to the above, each BoD member has a specific set
  b. Maintain and manage the Bank’s assets.                                      of duties and responsibilities in accordance with their
  c. Take full responsibility for carrying out their duties for                  designated position, as summarised below:
     the benefit of the Bank in achieving its goals and                          PRESIDENT DIRECTOR
     objectives,
  d. Must hold Annual GMS and other GMS as regulated in                          The President Director position coordinates the Bank’s
     statutory regulations and the Bank’s Articles of                            management and together with the BoD establish strategic
     Association.                                                                plans; leads business network development for the Bank’s
  e. Must implement the principles of good corporate                             benefit; coordinates, directs, and supervises each
     governance in every business activity of the Bank at all                    directorate to keep them on track with long-term strategies;
     levels or levels of the organisation, at least this must be                 directs business performance and maximises revenue;
     realised in the implementation of the duties and                            promotes the Bank’s image and participates in building
     responsibilities of the BoD, the completeness and                           good relations with customers, monetary authorities,
     implementation of the duties of committees and work                         and other stakeholders; supervises the BoD and divisions
     units that carry out the Bank’s internal control                            under their responsibility directly, in accordance with the
     function, implementation of compliance function,                            Bank’s organisation structure; and leads and directs the
     internal audits and external audits, as well as                             human resources empowerment policy to be aligned with
     implementation of risk management including IT risk,                        the Bank’s strategies and to achieve its goals.
     cybersecurity risk, and the internal control system.
3. Implementation of the Internal Audit Function: Develop
   an internal control framework to identify, measure,
   monitor and control all risks faced by the Bank.

                                                                                                            PT Bank QNB Indonesia Tbk Annual Report 2023 — 93
Page 96
GCG Structure (Continued)
COMPLIANCE DIRECTOR                                                          leads the Bank’s funding roadmap; effectively and
The Compliance Director leads and directs policy and                         efficiently controlling the Bank’s funding and ensuring
strategy development and implementation in Regulatory                        sound liquidity of the Bank’s and optimises cost
Compliance, Financial Crime Compliance (FCC), and                            effectiveness; supervises the dealing room and foreign
Corporate Secretary areas; formulates strategies to                          exchange/money position of the dealers within the preset
encourage compliance culture, establish compliance                           risk parameters; achieves the investment and treasury
systems and procedures for developing internal policies                      sales targets and maximises profit through fund
and guidelines and upholding them in accordance with the                     management and trading of various financial instruments;
laws and regulations; coordinates, directs, and implements                   maintains communication with the regulators, supervisors
the principles of good governance and corporate actions;                     of correspondent banking regulations to help achieve the
ensures compliant reporting and fulfilment of action plans                   Bank’s business targets.
and commitments to regulators; as well as boosts                             FINANCE DIRECTOR
competitiveness and profitability through effective                          The Finance Director monitors the optimal strategy for
planning and control over resources and risk management                      capitalisation and distribution of dividends to shareholders
under the Compliance Directorate.                                            and maintains capital adequacy ratios; supports an effective
CORPORATE & INSTITUTIONAL BANKING DIRECTOR                                   decision making across all business units and delivers ideas
The Treasury & Financial Institution is concurrently serving                 related to financial investments, liquidity, strategic planning,
as the Acting Corporate & Institutional Banking Director,                    balance sheet structure, and profit projections; prepares the
who leads and directs policy and strategy development and                    Bank’s annual budget and maintains the business, budgeting,
implementation in Corporate & Institutional Banking area;                    and review procedures that are consistent throughout the
leads, directs, and coordinates the development of products                  Bank while monitoring the Bank’s budget control system and
and services to ensure growth, profitability, and competitive                developing long-term financial strategy; controls the spread
products in the Corporate & Institutional Banking segment;                   and margin of the average interest rate and prepares
ensures fulfilment of customer-oriented approach and                         marginal cost/benefit analyses as well as designs and
strategic relationship approach; as well as boosts                           maintains through coordination the risk-adjusted return
competitiveness and profitability through effective planning                 on capital; and monitors the implementation of sustainable
and control over resources and risk management under the                     financing plan into the Bank’s governance and standard
Corporate & Institutional Banking Directorate.                               operating procedures.

OPERATIONS & TECHNOLOGY DIRECTOR                                             Remuneration Structure, Policy, and Procedures

In consideration of the organisational structure of the                      In general, the Bank determines remuneration package by
Bank, the President Director directs the Operations &                        referring to the Bank’s internal policies, prevailing laws
Technology Directorate, leading and directing policy and                     and regulations, industry comparison, and with taking
strategy development and implementation in operations,                       into account the Bank’s performance in the current year.
information technology, human resources management,                          The amount of remuneration for BoD members is set based
general services and corporate communications; manages                       on their performance. According to the Bank’s Articles of
systems and units related to processing to ensure efficient                  Association, salary or honorarium and other allowances
deployment of technology and technologically-oriented                        for the BoD members shall be established by the GMS.
operational support; enhances operating standards and                        BoD remuneration procedure consists of several phases,
processes by sponsoring the transformational adoption of                     which include formulation, analysis, proposal, and
core standard systems to ensure that the best results are                    establishment. The Remuneration and Nomination
achieved; ensures accuracy of information across all                         Committee is the supporting organ that formulates the
internal and external communications processes as well as                    remuneration policy and proposal. The Committee gathers
the public relation functions of the Bank; and provides                      information about remuneration standard for the position
guidance in the management of human resources.                               and the similar industry in the market, inflation rate,
TREASURY & FINANCIAL INSTITUTION DIRECTOR                                    as well as the Bank’s performance and assessment results,
                                                                             to be used as consideration.
The Treasury & Financial Institution Director leads and
directs policy and strategy development and                                  Until the end of the reporting period, the Bank did not have
implementation in treasury & financial institution;                          any policy related to the provision of long term
carefully monitors the Bank’s liquidity ratios; initiates and                compensation in the form of share option or other forms to
                                                                             anyone, including the BoD members.


                                                                                                        Amount Received in 1 Year in 2023
 Type of Remuneration and Facility
                                                                                                         Recipients Amount (million Rp)
 Remuneration (salary, bonuses, routine benefits, and other intangible facilities)                                5*                 25,644
 Other tangible facilities (housing, transportation allowances, health insurance, and
                                                                                                                  5*                    231
 others) that can be owned and cannot be owned
 Total                                                                                                                               25,875
*) One Director resigned in 2023




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 Remuneration Received per Person per Year                                                                                                   Recipients
 Above Rp5 billion                                                                                                                                      2*
 Above Rp2 billion up to Rp5 billion                                                                                                                      3
 Above Rp1 billion up to Rp2 billion                                                                                                                      -
 Above Rp500 million up to Rp1 billion                                                                                                                    -
 Rp500 million or below                                                                                                                                   -
*) One Director resigned in 2023



Meetings
In general, the BoD must conduct a meeting at least once a month or at any time deemed necessary and upon written request
by any BoD member, any BoC member, or at least 1/10 of the total shares with valid voting right. A joint meeting with the BoC
must be held at least once every 4 months. Each BoD member shall attend the meetings unless a valid reason is given and a proxy
is nominated in accordance with the provisions. Meetings may also be conducted via teleconference, video conference, or other
electronic means.
In 2023, the BoD conducted a total of 31 meetings, and attended 5 BoC–BoD joint meetings.
The attendance of each BoD member in the BoD meetings in 2023 are as follows:


 Name                                                      Position                                    Attendance          Percentage of Attendance
 Haryanto Suganda                                     President Director                                            31                                97%
 Geoffry Nugraha1                                          Director                                                   7                               64%
 Windiartono Tabingin                                      Director                                                 29                                91%
 Nicolas Alix Groene (Nick Groene)                         Director                                                 30                                94%
 Soemenggrie Jongkamto                                     Director                                                 28                                88%
1) Resigned effective from 30 May 2023



The attendance of each BoD member in the BoC–BoD joint meetings in 2023 are as follows:


 Name                                                      Position                                    Attendance          Percentage of Attendance
 Haryanto Suganda                                     President Director                                              5                             100%
 Geoffry Nugraha   1
                                                           Director                                                   2                             100%
 Windiartono Tabingin                                      Director                                                   5                             100%
 Nicolas Alix Groene (Nick Groene)                         Director                                                   5                             100%
 Soemenggrie Jongkamto                                     Director                                                   5                             100%
1) Resigned effective from 30 May 2023


Performance Assessment
The BoD’s performance is assessed regularly every year.
Criteria or indicators used in evaluating the BoD’s performance of duties and responsibilities are:
> Assessment of the Duties of the BoD as reflected in the Annual Report, conducted by the Shareholders at the GMS.
> Self assessment through the Corporate Governance Implementation self assessment, encompassing the Governance Structure,
  Governance Process, and Governance Outcome.
> Self assessment of the execution of the BoD’s duties and responsibilities, encompassing the Membership Structure, Performance
  Assessment; Strategic Plan and Performance, as well as Management Interaction and Activities.
Assessment of the BoD’s performance follows the below procedures/mechanisms:
1. Assessment of the BoD’s Performance by the AGMS.
  The BoD’s performance is evaluated by the Shareholders at the AGMS, concurrent with the submission of the report of
  the BoD’s duties, as stipulated in the Bank’s Annual Report. The AGMS subsequently determines whether to accept and
  approve the Annual Report for the previous financial year including the report of the BoD’s duties and to provide full acquittal
  and discharge (acquit et de charge) to the BoD for the managerial actions carried out during the previous financial year.



                                                                                                           PT Bank QNB Indonesia Tbk Annual Report 2023 — 95
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GCG Structure (Continued)
2. Self assessment of the duties and responsibilities of the               Committees’ Performance Assessment
   BoC through the preparation of the bank’s governance                    The BoD has established several committees to support the
   implementation self assessment.                                         implementation of the BoD’s duties, in line with the prevailing
  This method of assessment of the BoD’s performance shall                 business needs and to comply with the laws and regulations.
  be submitted by the Bank to OJK every semester. OJK shall                The committees under the BoD are:
  subsequently conduct evaluation or assessment of                         > Asset & Liability Committee (ALCO)
  the report of the bank’s governance implementation self                  > Credit Committee
  assessment.                                                              > Credit Remedial Committee
3. Assessment of the BoD’s performance is also carried out                 > Early Alert Committee
   through the preparation of self assessment of the collegial             > Risk Management Committee
   execution of duties and responsibilities of the BoD.                    > Purchasing Committee
In light of the matters above, the performance assessment                  > New Products & Activities Committee
of the BoD during 2023 showed that the Board of Directors                  > Information Technology Committee
had implemented the efforts and strategies to improve the                  > Human Resources Committee
Bank’s performance. The optimal efforts of the BoD was                     > Fraud Oversight Committee
reflected in the growing scale of the Bank’s business, with                > Credit Policy Committee
profitability achieved. The Bank’s performance in 2023                     > Operational Risk Committee
can become the foundation for the Bank’s sustainable                       > Anti-Money Laundering and Combating the Financing of
growth in the future.                                                        Terrorism Committee
                                                                           > UCan Product Committee
The assessment result is used as a reference and will be                   > Governance, Risk, Compliance Committee
followed up in the form of improvements and action plans
for the BoD. The assessment result is expected to be used                  The BoD has concluded that throughout 2023 the
as an input for improving the BoD’s performance on an                      performance of the committees under the BoD has been
ongoing basis.                                                             overall rather effective. This conclusion was grounded upon
                                                                           the realisation of the fulfillment of duties and responsibilities
                                                                           of these committees in line with the provisions in the BoD
                                                                           Decree, the competence as well as the meeting attendance of
                                                                           the members of the respective committee.




Committees of the Board of Commissioners
Audit Committee
Legal Basis of Appointment, Structure, and Composition
The Bank maintains a work guideline for the Audit Committee, based on the Audit Committee Charter No. 1/04/004.01/V/2019
dated 27 May 2019.
The Audit Committee Charter is regularly reviewed and updated with the regulations. The Charter serves as work guideline
and procedure for Audit Committee members. It details matters related to the composition and structure, membership criteria,
term of office, duties and responsibilities, authorities, work ethics, working hours, working mechanism, meetings, and reporting
of the Audit Committee.
Audit Committee is responsible directly to the BoC, and consists of 3 members, 1 of whom serves as Committee Chairperson
(Independent Commissioner) and 2 members are Independent Parties. Members of the Audit Committee who are Independent
Parties must conduct their duties, responsibilities, and authority with integrity, independence, and competence, and maintain
their reputation.
Audit Committee’s current composition is based on the BoD Decree No. 030/SK-Dir/VI/2023 dated 5 June 2023, as follows:


                  Name                               Position in Bank        Position in Committee                 Term of Office

 Muhammad Anas Malla                            Independent Commissioner            Chairperson                      2022–2024

 Heru Subroto                                       Independent Member                Member                          2023-2024

 Achmad Effendy Abdurachman                         Independent Member                Member                         2022–2024


Profiles of Audit Committee Members
MUHAMMAD ANAS MALLA – CHAIRPERSON
His profile is presented in the Board of Commisioners Profiles section in this Annual Report, on page 49.


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HERU SUBROTO – MEMBER
Indonesian citizen, 68 years old. He has more than 27 years of experience working at PT Bank Negara Indonesia (Persero) Tbk,
occupying various positions such as IT Audit Group Head, Deputy General Manager Operational Division. Served as
IT Consultant at Koperasi Swadharma (2011–2013), Project Manager and Internal Control at PT SDD Group (2013–2015), Senior
Consultant at PT Mitra Bisnis Ciptakarya, Internal Audit & IT Manager at Persatuan Pensiunan BNI, Audit Committee Member
at Bank Oke Indonesia (2022–present). He earned his Bachelor’s degree from Gadjah Mada University (1982), and Master’s degree
in EDP/IT Audit from California State Polytechnic University, California, USA (1991).
ACHMAD EFFENDY ABDURACHMAN – MEMBER
Indonesian Citizen, 75 years old. Has more than 23 years of work experience at Bank Indonesia (1980–2004), with his last
position as Head of Research and Development Team, Credit Bureau (1999–2005). Joined APRACA Consultancy Services as
Managing Director (2003–2009), PT Bank KEB Hana Indonesia as Independent Commissioner (2007–2015), Indonesian Banking
Development Institution (LPPI) as Head of Division for Micro Finance Development & Study (2010–2014) and as Consultant
Director (2014–2018), and Pefindo Credit Bureau as an Audit Committee member (2015–2022). Obtained his Bachelor of Fisheries
degree from University of Brawijaya, Malang (1977) and Master’s degree in Management from Asian Institute of Management
Manila, Phillipines (1989).
Duties and Responsibilities
Audit Committee’s duties and responsibilities are laid out in detail in the Audit Committee Charter. In general, Audit Committee
is responsible for supporting the BoC in monitoring and evaluating the planning and implementation of audit as well as
monitoring the follow-up to audit findings in order to assess the adequacy of internal control, including the adequacy of
financial reporting process, and ensure the efficiency of the compliance function in detecting the deviations and breaches within
the Bank.
Independence
All members of the Audit Committee meet all independence criteria and are able to perform their duties independently, uphold
the Bank’s interests and are not influenced by any parties. This is evidenced by the membership composition that consists of
1 Chairperson who is an Independent Commissioner and 2 Independent Parties.

Family or Financial Relationships of Audit Committee Members

                                       Family Relationship with                                            Financial Relationship with
                         Other                                                                Other
                                                                           Controlling                                                          Controlling
         Name          Committee              BoC              BoD                          Committee              BoC              BoD
                                                                           Shareholder                                                          Shareholder
                        Members                                                              Members

                        Yes      No         Yes     No     Yes       No     Yes      No      Yes      No       Yes       No     Yes       No     Yes      No

 Muhammad Anas
                                  V                 V                V               V                V                  V                V                V
 Malla

 Heru Subroto                     V                 V                V               V                V                  V                V                V

 Achmad Effendy
                                  V                 V                V               V                V                  V                V                V
 Abdurachman


2023 Duties
The Audit Committee performed its roles and responsibilities that included monitoring activities and providing recommendations.
The Audit Committee reports its activities and recommendations to the BoC on a regular basis.
Meetings
In 2023, the Audit Committee held 18 meetings, with the attendance list as follows:



 Name                                                                         Physical Attendance                              Percentage of Attendance

 Muhammad Anas Malla                                                                                18                                                  100%

 Heru Subroto                                                                                       10                                                  100%

 Achmad Effendy Abdurachman                                                                         18                                                  100%




                                                                                                               PT Bank QNB Indonesia Tbk Annual Report 2023 — 97
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Committees of the Board of Commissioners (Lanjutan)
The Audit Committee meetings in 2023 discussed the following agendas:
1. 17 January 2023                : a. Audit progress with External Auditor.
                                    b. 4th Quarter Internal Audit, Fraud, Operational Risk & Compliance Update.
2. 11 & 25 January 2023           : Audit progress with External Auditor.
3. 7 February 2023                : Closing Meeting with External Auditor.
4. 28 February 2023               : Implementation of Quality Assurance Review (QAR) by External Auditor.
5. 11 April 2023                  : 1st Quarter Internal Audit, Fraud, Operational Risk and Compliance Update.
6. 6 May 2023                     : Appointment of KAP as executor of statutory audit for 2023.
7. 30 May 2023                    : Continued discussion of the appointment of KAP as executor of statutory audit for 2023.
8. 11 July 2023                   : 2 nd Quarter Internal Audit, Fraud, Operational Risk and Compliance Presentation.
9. 18 July 2023                   : Kick off Meeting with Audit Committee (EY as the Public Accounting Firm).
10. 1 August 2023                 : Results of Internal Audit examination by External Auditor.
11. 29 August 2023                : Impact of POJK No. 8 of 2023 on AML CFT CPF Implementation at the Bank.
12. 17 October 2023               : a. Financial Statement Highlights 3rd Quarter 2023;
                                    b. 3rd Quarter Internal Audit, Fraud, Operational Risk & Compliance.
13. 24 October 2023               : a. Continued discussion of 3rd Quarter Internal Audit, Fraud, Operational Risk & Compliance;
                                    b. Internal Audit Charter Update.
14. 31 October 2023               : FCC AML Update.
15. 5 December 2023               : 2024 Audit Plan.
Competence Development
To enhance the committee’s relevant competences, committee members are encouraged to participate in various training and
development programmes. In 2023, all members of the Audit Committee attended BARa Risk Forum: ERM and Cyber Security:
How to Mitigate and Protect, organised by Bankers Association for Risk Management (BARa) on 26 July 2023.

Remuneration & Nomination Committee
Legal Basis of Appointment, Structure, and Composition
Establishment of the Remuneration & Nomination Committee (RNC) is based on the RNC Charter No. 1/04/003.02/V/2023 dated
31 May 2023.
The RNC Charter is regularly reviewed and updated with the regulations. The Charter serves as work guideline and procedure
for RNC members. It details matters related to the composition, structure, and membership criteria, duties and responsibilities,
work ethics, work procedures, meetings, and reporting of the RNC.
RNC is responsible directly to the BoC, and consists of 3 members, 1 of whom serves as Committee Chairperson (Independent
Commissioner) and 2 members consisting of 1 Commissioner and 1 executive officer in HR.
RNC’s current composition is based on the BoD Decree No. 001/SK-Dir/I/2023 dated 2 January 2023, as follows:


                  Name                               Position in Bank         Position in Committee              Term of Office

 Muhammad Anas Malla                            Independent Commissioner            Chairperson                    2022–2024

 Khalid Ahmed Al-Sada                                  Commissioner                   Member                       2022–2024

                                                    Talent, Learning, and
 Ruth Theresia                                                                        Member                       2023-2024
                                                     Development Head


Profiles of Remuneration & Nomination Committee Members
MUHAMMAD ANAS MALLA – CHAIRPERSON
His profile is presented in the Board of Commisioners Profiles section in this Annual Report, on page 49.
KHALID AHMED AL-SADA – MEMBER
His profile is presented in the Board of Commisioners Profiles section in this Annual Report, on page 47.
RUTH THERESIA – MEMBER
Indonesian citizen, 38 years old. Domiciled in Jakarta, Indonesia. She earned her Bachelor degree in Economic from Atmajaya
University, Jakarta (2008) and Master of Management from PPM Manajemen, Jakarta (2016). Joined the Bank since 2018
as Rewards and Policies Manager. Currently serves as Talent, Learning and Development Head since December 2022, and
concurrently as Member of the Remuneration and Nomination Committee since January 2023. Previously worked at PT Roche
Indonesia (2015–2018) with last position as Assistant Performance Management & Compensation Benefit Manager,
PT Anugerah Pharmindo Lestari (2013–2015) as HR Compensation & Benefit Analyst, PT Bank CTBC Indonesia (2010–2013),
and PT Takeda Indonesia (2009–2010) as Finance & Accounting Staff.



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Duties and Responsibilities
RNC’s duties and responsibilities are laid out in detail in the RNC Charter. In general, RNC is responsible for supporting the BoC
in advising on and overseeing the following aspects within the Bank:
> Remuneration structure, policy, and amount;
> Performance appraisal;
> Identification of candidates and nomination of BoD and BoC members;
> Personal development programmes for BoD and BoC members;
> Induction programme for new members;
> Nomination of independent parties Audit Committee and Risk Oversight Committee members; and
> Policies related to BoC and BoD members, as well as HR.


Family or Financial Relationships of RNC Members

                                       Family Relationship with                                            Financial Relationship with
                          Other                                                               Other
                                                                           Controlling                                                          Controlling
         Name           Committee             BoC              BoD                          Committee              BoC              BoD
                                                                           Shareholder                                                          Shareholder
                         Members                                                             Members

                        Yes      No         Yes     No     Yes       No     Yes      No      Yes      No       Yes        No    Yes       No     Yes      No

 Muhammad Anas
                                  V                 V                V               V                V                   V               V                V
 Malla

 Khalid Ahmed
                                  V                 V                V               V                V                   V               V       V
 Al-Sada

 Ruth Theresia                    V                 V                V               V                V                   V               V                V


2023 Duties
RNC performed its roles and responsibilities that included the monitoring activities and providing recommendations. RNC reports
its activities and recommendations to the BoC on a regular basis.
Meetings
In 2023, RNC held 13 meetings, with the attendance list as follows:


 Name                                               Physical Attendance                        Video Conference                Percentage of Attendance

 Muhammad Anas Malla                                                        -                                        12                                   92%

 Khalid Ahmed Al-Sada                                                       -                                        13                                 100%

 Ruth Theresia                                                              -                                        13                                 100%


In 2023, RNC meetings resulted in the following:
1. In relation to the Remuneration Function:
   a. Provided recommendation to the BoC regarding:
      > Remuneration amount
   b. Assisted the BoC in conducting performance assessment and alignment with remuneration received by each members of the
      BoD and the BoC.
2. In relation to the Nomination Function:
  a. Provided recommendation regarding the candidacy
     of:
     > Head of Human Resources as Senior Management
     > 1 member of Audit Committee
  b. Provided recommendation regarding the resignation of:
     > CIB Director
     > Chief Credit Officer
     > Head of Retail Banking




                                                                                                               PT Bank QNB Indonesia Tbk Annual Report 2023 — 99
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Committees of the Board of Commissioners (Lanjutan)
3. In relation to the Governance Function:
  Reviewed the structure and composition of the BoD and the BoC, including the Independent Commissioners, in order to
  ensure the upholding of GCG practices.
Competence Development
To enhance the committee’s relevant competences, committee members are encouraged to participate in various training and
development programmes. In 2023, a member of the Remuneration and Nomination Committee (Ruth Theresia), participated
in the following programmes:
1. Certified Organization Development Practitioner (CODP)
2. BNSP Competence of Human Resources Management (Manager)
Meanwhile, other members of the committee participated in training programmes listed in the Board of Commissioners Profiles
section in this Annual Report.

Risk Oversight Committee
Legal Basis of Appointment, Structure, and Composition
Establishment of the Risk Oversight Committee (ROC) is based on the Risk Oversight Committee Charter No. 1/04/005.01/XII/2022
dated 30 December 2022.
The ROC Charter is regularly reviewed and updated with the regulations. The Charter serves as work guideline and procedure for
ROC members. It details matters related to the composition, structure and requirement membership, term of office, duties and
responsibilities, authorities, working mechanism, meetings, and reporting of the members of the ROC.
ROC is responsible directly to the BoC, and consists of 3 members, 1 of whom serves as Committee Chairperson (Independent
Commissioner) and 2 members who are independent parties. Members of the ROC who are Independent Parties must conduct
their duties, responsibilities, and authority with integrity, independence, and competence, and maintain their reputation.
ROC’s current composition is based on the BoD Decree No. 008A/SK-Dir/III/2023 dated 30 March 2023, as follows:


                  Name                                Position in Bank     Position in Committee             Term of Office

 Djoko Sarwono                                  Independent Commissioner        Chairperson                     2022–2024

 Tjetjep Hasmitha                                    Independent Member           Member                        2022–2024

 Achmad Effendy Abdurachman                          Independent Member           Member                        2022–2024


Profiles of Risk Oversight Committee Members
DJOKO SARWONO – CHAIRPERSON
His profile is presented in the Board of Commissioners Profiles section in this Annual Report, on page 48.
TJETJEP HASMITHA – MEMBER
Indonesian citizen, 67 years old. Has held various positions such as Head of Internal Supervision & Quality Assurance Bureau at
the Indonesian Banking Development Institute (LPPI) (2012–2015), Supervisor at Karya Usaha Mandiri Cooperative (2013–2018),
and LPPI Employee Cooperative (2012–2015). Experienced more than 30 years at Bank Indonesia (1981–2012), with last position
as Deputy Director/Head of Payroll and Emoluments Division. Was a member of the BLBI Settlement Team (1999–2002). Obtained
a Bachelor of Economics degree majoring in Management from Pancasila University, Jakarta (1984) and a Masters in
Management from the same university (1996).
ACHMAD EFFENDY ABDURACHMAN – MEMBER
His profile is presented in the Profiles of Audit Committee Members section in this Annual Report, on page 97.
Duties and Responsibilities
ROC’s duties and responsibilities are laid out in detail in the ROC Charter. In general, ROC is responsible for supporting the BoC in
reviewing and overseeing the following aspects within the Bank:
1. Evaluating the conformity of risk management policies and the implementation of the Bank’s policies; and
2. Monitoring and evaluating the implementation of the Risk Management Committee and Risk Management Unit’s duties.




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Independence
All members of the ROC meet all independence criteria and are able to perform their duties independently, uphold the Bank’s
interests and are not influenced by any parties. This is evidenced by the membership composition that consists of 1 Chairperson
who is an Independent Commissioner, and 2 independent parties.

Family or Financial Relationships of ROC Members

                                         Family Relationship with                                            Financial Relationship with
                           Other                                                                Other
                                                                             Controlling                                                           Controlling
         Name            Committee              BoC              BoD                          Committee               BoC              BoD
                                                                             Shareholder                                                           Shareholder
                          Members                                                              Members

                          Yes      No         Yes     No     Yes       No     Yes      No      Yes      No        Yes       No     Yes       No     Yes      No

 Djoko Sarwono                      V                 V                V               V                V                   V                V                V

 Tjetjep Hasmitha                   V                 V                V               V                V                   V                V                V

 Achmad Effendy
                                    V                 V                V               V                V                   V                V                V
 Abdurachman


2023 Duties
The ROC performed its roles and responsibilities that included the monitoring activities and providing recommendations. The ROC
reports its activities and recommendations to the BoC on a regular basis.
Meetings
In 2023, ROC held 6 meetings, with the attendance list as follows:


 Name                                                 Physical Attendance                        Video Conference                 Percentage of Attendance
 Djoko Sarwono                                                               6                                          -                                  100%
 Tjetjep Hasmitha                                                            6                                          -                                  100%
 Achmad Effendy Abdurachman                                                  6                                          -                                  100%


In 2023, the meetings of the Risk Monitoring Committee discussed:
1. 7 February 2023              : Risk Appetite Statement Q4/2022, Bank Soundness Level Semester II 2022.
2. 23 May 2023                  : Risk Appetite Statement Q1/2023, Risk Profile Q1/2023.
3. 20 July 2023                 : Risk Appetite Statement Q2/2023, Risk Profile Q2/2023.
4. 31 October 2023              : Risk Appetite Statement Q3/2023, Risk Profile Q3/2023.
5. 28 November 2023             : Risk Appetite Statement October 2023, Risk Profile October 2023.
6. 19 December 2023             : Bank’s Risk and Control Self Assessment (RCSA) 2023 result.


Competence Development
To enhance the committee’s relevant competences, committee members are encouraged to participate in various training and
development programmes. In 2023, all members of the ROC Committee attended BARa Risk Forum: ERM and Cyber Security:
How to Mitigate and Protect, organised by Bankers Association for Risk Management (BARa) on 26 July 2023.




                                                                                                                 PT Bank QNB Indonesia Tbk Annual Report 2023 — 101
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Committees Under the Board of Directors
Asset and Liability Committee
Legal Basis of Establishment
The Asset and Liability Committee (ALCO) was established under the BoD Decree, with the latest amendment being the BoD Decree
No. 061/SK-Dir/XII/2023 dated 11 December 2023. ALCO is responsible for assisting the BoD in managing assets and liabilities in
integrated manner, establishing balance sheet structure and capital, providing recommendation to the BoD to determine policies
established in ALCO meetings, and ensuring the implementation of GCG principles in the bank’s business activities.
Meeting
ALCO conducted 12 meetings in 2023.
Composition
ALCO consists of members whose functions are relevant to the bank’s activities related to assets and liabilities.
The table below lists the committee members:


           Membership Structure                                         Name                        Position in Bank

 Chairman                                            Haryanto Suganda                    President Director

 Alternate Chairman and Member                       Haryuninglistia Setiantini          Act. Chief Risk Officer

 Secretary and Member                                Soemenggrie Jongkamto               Finance Director

                                                                                         Treasury & Financial Institution
 Member                                              Nicolas Alix Groene (Nick Groene)   Director and Act. Corporate &
                                                                                         Institutional Banking Director

 Member                                              Nancy Prasetijo1                    Act. Head of Retail Banking

 Member                                              Lia Indriani   2
                                                                                         Act. Chief Credit Officer
1) Member since November 2023
2) Member since October 2023



Duties and Responsibilities
ALCO is primarily tasked to review and advise on strategies, policies, and procedures relating to assets and liabilities
management to the BoD, monitor and review performance of all treasury activities as well as interest rate risk, liquidity risk,
and foreign exchange risk management, review new treasury products, review the latest developments in currency and interest
rate fluctuations, ensure compliance with treasury limits and ratios, monitor developments of interest and foreign exchange
rates in the national and global markets, oversee and determine the most appropriate fund transfer pricing policy
given prevailing market situations and supervise its implementation, as well as review and recommend matters related to bank
borrowings to the BoC.
2023 Duties
In 2023, Asset and Liability Committee held meetings with the agenda as follows:
1. Monitored and reviewed the impact of Bank Indonesia’s interest rate fluctuations against pricing on assets and liabilities;
2. Monitored, reviewed, and conducted analysis of deposit (liabilities) customer behaviour to optimise liquidity strategy; and
3. Monitored and reviewed regulatory ratio and early warning indicators to also optimise liquidity.




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Credit Committee
Legal Basis of Establishment
The Credit Committee was established under the BoD Decree No. 014/SK-DIR/II/2024 dated 21 February 2024 effective
retroactively. The Credit Committee is responsible for assisting the BoD in formulating credit policy and making decisions related
to credit proposals within their limits of authority.
Meeting
The Credit Committee conducted 34 meetings in 2023.
Composition
The Credit Committee consists of members whose functions are relevant to the bank’s lending activities.
The table below lists the committee members:


            Membership Structure                                       Name                                             Position in Bank

 Voting Member                                      Haryanto Suganda                                   President Director

                                                                                                       Corporate & Institutional Banking
 Voting Member                                      Geoffry Nugraha1
                                                                                                       Director

                                                                                                       Act. Corporate & Institutional Banking
 Voting Member                                      Nicolas Alix Groene (Nick Groene)9
                                                                                                       Director

 Voting Member                                      Farel Tua Silalahi 2                               Chief Credit Officer

 Voting Member                                      Regina Lestari Busono   3
                                                                                                       Head of Commercial Banking

                                                                                                       Head of Wholesale Banking, SME &
 Voting Member                                      Bambang Harjono
                                                                                                       Retail Credit Review

 Voting Member                                      Dennis Tanu Utomo4                                 Head of Corporate Banking

 Voting Member                                      Novia Valencia Wibowo       5
                                                                                                       Head of Credit Analyst

 Voting Member                                      Edison Effendy 6                                   Head of Credit Remedial

                                                                                                       Head of Credit Remedial & Act. Chief
 Voting Member                                      Lia Indriani7
                                                                                                       Credit Officer

 Non-Voting Member                                  Haryuninglistia Setiantini8                        Chief Risk Officer
1) Resigned effective from 31 May 2023
2) Resigned effective from 21 October 2023
3) Resigned effective from 16 February 2023
4) Voting Member effective from 7 July 2023
5) Voting Member effective from 26 January 2023
6) Resigned effective from 1 August 2023
7) Voting Member effective from 25 July 2023
8) Non-Voting Member effective from 12 April 2023
9) Voting Member effective from 1 December 2023



Duties and Responsibilities
The Credit Committee is primarily tasked to approve or reject credit proposals within their limits of authority or type of credit set
by the BoD and review those exceeding the set limits, coordinate with the Assets and Liabilities Committee regarding credit
funding, develop credit policy and supervise its implementation, review new lending products, monitor and review credit
portfolio performance and characteristics, and prepare credit risk reports for the BoD.
2023 Duties
Through its meetings in 2023, the Credit Committee reviewed and approved credit proposals within the set limits, and evaluated
the performance of work units responsible for credit proposal and review.




                                                                                                            PT Bank QNB Indonesia Tbk Annual Report 2023 — 103
Page 106
Committees Under the Board of Directors (Continued)
Credit Remedial Committee
Legal Basis of Establishment
The Credit Remedial Committee was established under the BoD Decree No. 005/SK-DIR/II/2021 dated 8 February 2021, with the
latest amendement being the BoD Decree No. 037/SK-DIR/XI/2022 dated 7 November 2022.
The Credit Remedial Committee is responsible for assisting the BoD in managing credit risk in accordance with the Bank’s appetite
and making decisions related to credit proposals within their limits of authority.
Meeting
The Credit Remedial Committee conducted 19 meetings in 2023.
Composition
The Credit Remedial Committee consists of members whose functions are relevant to the Bank’s credit remediation activities.
The table below lists the committee members:


           Membership Structure                                          Name                                      Position in Bank

 Voting Members                                      Haryanto Suganda                                   President Director

 Voting Members                                      Farel Tua Silalahi   1
                                                                                                        Chief Credit Officer

 Voting Members                                      Edison Effendy2                                    Head of Credit Remedial

 Voting Members                                      Lia Indriani   3
                                                                                                        Head of Credit Remedial

                                                                                                        Head of Wholesale Banking, SME &
 Voting Members                                      Bambang Harjono
                                                                                                        Retail Credit Review

 Non-Voting member                                   Haryuninglistia Setiantini4                        Act. Chief Risk Officer
1) Voting Member since 1 April 2023 and resigned effective from 21 October 2023
2) Resigned effective from 1 August 2023
3) Has two voting rights as Head of Credit Remedial and Act. Chief Credit Officer effective from 21 October 2023
4) Non-Voting Member since 1 April 2023



Duties and Responsibilities
The Credit Remedial Committee is primarily tasked to review and advise the Bank’s credit restructuring procedures,
non-performing loans handling policy, and foreclosed assets, as well as to monitor these procedures’ implementation,
review and approve credit recovery, remediation, and foreclosed assets settlement proposals and ensure their implementation,
monitor credit portfolio restructuring, and receive regular reports from the Credit Remedial work unit on the list and status of
foreclosed assets.
2023 Duties
Through its meetings in 2023, the Credit Remedial Committee reviewed and approved credit remedial proposals within the set
limits, and evaluated the performance of work units responsible for credit proposal and review.




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2023 Highlights     Reports to Stakeholders    Company Profile    Management Discussion and Analysis           Corporate Governance         Sustainability




Early Alert Committee
Legal Basis of Establishment
The Early Alert Committee was established under the BoD Decree No. 015/SK-Direksi/II/2024 dated 21 February 2024 effective
retroactively. The Early Alert Committee is responsible for staying abreast with the updates of debtor condition should there be
an increase in credit risk, and for anticipating early indication for such situation.
Meeting
The Early Alert Committee conducted 20 meetings in 2023.
Composition
The Early Alert Committee consists of members whose functions are relevant to the bank’s credit risk management activities.
The table below lists the committee members:


            Membership Structure                                  Name                                             Position in Bank

 Chairman                                        Farel Tua Silalahi   1
                                                                                                  Chief Credit Officer

                                                                                                  Head of Wholesale Banking Credit
 Alternate Chairman and Member                   Bambang Harjono
                                                                                                  Review

                                                                                                  Corporate & Institutional Banking
 Member                                          Geoffry Nugraha 2
                                                                                                  Director

                                                                                                  Act. Corporate & Institutional Banking
 Member                                          Nicolas Alix Groene (Nick Groene)7
                                                                                                  Director

 Alternate Member                                Regina Lestari Busono3                           Head of Commercial Banking

 Alternate Member                                Novia Valencia Wibowo    4
                                                                                                  Head of Credit Analyst

 Alternate Member                                Dennis Tanu Utomo5                               Head of Corporate Banking

                                                                                                  Head of Credit Remedial & Act. Chief
 Alternate Member                                Lia Indriani6
                                                                                                  Credit Officer
1) Resigned effective from 21 October 2023
2) Resigned effective from 31 May 2023
3) Resigned effective from 16 February 2023
4) Member and Altenate Member effective from 7 July 2023
5) Alternate Member effective from 7 July 2023
6) Chairman & Alternate Member effective from 21 October 2023
7) Member effective from 1 December 2023



Duties and Responsibilities
The Early Alert Committee is primarily tasked to conduct tightening supervision, enforce disciplinary action to relevant debtors,
decrease collectability, conduct restructuring and repackaging actions, move to Credit Remedial Team, and conduct capital reserve.
2023 Duties
Through its meetings in 2023, the Early Alert Committee discussed debtors who triggered the early alert mechanism and
other lists, as well as determined the direction or decision of action on each account.




                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 105
Page 108
Committees Under the Board of Directors (Continued)
Risk Management Committee
Legal Basis of Establishment
The Risk Management Committee was established under the BoD Decree No. 062/SK-DIR/XII/2023 dated 14 December 2023. The
Risk Management Committee is responsible for providing recommendations to the BoD concerning risk management, including
the formulation of policies, policy implementation enhancement, and evaluation of risk profile condition and progress.
Meeting
The Risk Management Committee conducted 4 meetings in 2023.
Composition
The Risk Management Committee consists of members whose functions are relevant to the Bank’s risk management activities.
The table below lists the committee members:


           Membership Structure                                            Name                     Position in Bank

 Chairman and Member                                 Haryuninglistia Setiantini   1
                                                                                         Act. Chief Risk Officer

 Alternate Chairman and Member                       Haryanto Suganda                    President Director

 Member                                              Windiartono Tabingin                Compliance Director

                                                                                         Treasury & Financial Institution
 Member                                              Nicolas Alix Groene (Nick Groene)   Director and Act. Corporate &
                                                                                         Institutional Banking Director

 Member                                              Soemenggrie Jongkamto               Finance Director

 Member                                              Lia Indriani 2                      Act. Chief Credit Officer

 Member                                              Nancy Prasetijo   3
                                                                                         Act. Head of Retail Banking

 Member                                              David Liswandi4                     Act. Head of Operations & IT

                                                                                         Corporate & Institutional Banking
 Member                                              Geoffry Nugraha 5
                                                                                         Director

 Member                                              Farel Tua Silalahi6                 Chief Credit Officer

 Member                                              Victor Teja7                        Head of Retail Banking
1) Appointed as Act. Chief Risk Officer on 1 April 2023
2) Member since 14 December 2023
3) Member since 14 December 2023
4) Member since 1 April 2023
5) Resigned effective from 18 April 2023
6) Resigned effective from 20 October 2023
7) Resigned effective from 3 November 2023



Duties and Responsibilities
The Risk Management Committee is primarily tasked to establish risk management governance frameworks and set their
direction, strategies, and programmes, as well as to perform risk profile evaluation and capital adequacy analysis. Furthermore,
the committee shall establish risk management policies and processes, risk appetite, risk methodologies, business contingency
plan, disaster recovery plan, as well as monitor the Bank’s loan and portfolio diversification and determine credit risk indicator
profile, credit risk measurement methodology, business decisions that deviate from normal procedures, and other matters
related to the Bank’s risk management activities.
2023 Duties
Through its meetings in 2023, the Risk Management Committee approved the Bank’s Risk-Based Bank Rating (RBBR), the Risk
Profile Self-Assessments, the Internal Capital Adequacy Assessment Process (ICAAP) as part of RBBR assessment, and updated
Risk Management Committee Terms of Reference. The committee also appointed Chief Credit Officer and Head of Operations &
Technology as its members.




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2023 Highlights       Reports to Stakeholders        Company Profile     Management Discussion and Analysis           Corporate Governance         Sustainability




Purchasing Committee
Legal Basis of Establishment
The Purchasing Committee was established under the latest amendment to previous BoD Decree No. 001/SK-DIR/I/2021 dated
13 January 2021. The Purchasing Committee is responsible for monitoring and amending purchasing limits and related
sub-policies, and for awarding tenders for amounts above the stipulated limits.
Meeting
The Purchasing Committee conducted 4 meetings in 2023.
Composition
The Purchasing Committee consists of members whose functions are relevant to the Bank’s purchasing activities.
The table below lists the committee members:


            Membership Structure                                         Name                                             Position in Bank

                                                                                                         President Director/Act. Operations and
 Chairman and Member                                   Haryanto Suganda
                                                                                                         Technology Director

                                                                                                         Finance Director/Director in Charge for
 Alternate Chairman and Member                         Soemenggrie Jongkamto1
                                                                                                         General Services

 Secretary and Member                                  Denny Soedharmo                                   Head of General Services

 Member                                                Farel Tua Silalahi 2                              Chief Risk Officer

 Member                                                Haryuninglistia Setiantini                        Act. Chief Risk Officer3
1) Since 3 April 2023
2) Resigned effective from 21 October 2023
3) Acting as Chief Risk Officer since 1 April 2023



Duties and Responsibilities
The Purchasing Committee is primarily tasked to evaluate and approve proposals of capital and operational expenditures, formulate
procurement guidelines and policies, allocate procurement budgets, ensure alignment of procurement plans and activities with the
Bank’s strategic objectives and principles of procurement, and ensure the Bank’s compliance with the Tenders and Auction policy
directives. The committee may also prepare an estimates price reference (owner’s estimate) on third-party products and services,
prepare the vendor list, and act as a custodian for contracts.
2023 Duties
Through its meetings in 2023, the Purchasing Committee approved the Bank’s procurement activities, reviewed the actual use
of the purchasing budget, and ensured that the procurement of goods and services was carried out in accordance with
procurement ethics.




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 107
Page 110
Committees Under the Board of Directors (Continued)
New Products and Activities Committee
Legal Basis of Establishment
The New Products and Activities Committee is governed under the latest amendment to the BoD Decree No. 034/SK-Dir/VI/2023
dated 12 June 2023. The New Products and Activities Committee is responsible for monitoring the development of new products,
programmes, services, and activities, in line with the Bank’s business strategy.
Meeting
The New Products and Activities Committee conducted 4 meetings in 2023.
Composition
The New Products and Activities Committee consists of members whose functions are relevant to the Bank’s new products and
activities. The table below lists the committee members:


           Membership Structure                                          Name                        Position in Bank

 Chairman and Member                                 Haryanto Suganda                    President Director

 Alternate Chairman and Member                       Haryuninglistia Setiantini          Act. Chief Risk Officer1

 Member                                              Windiartono Tabingin                Compliance Director

 Member                                              Soemenggrie Jongkamto               Finance Director

 Member                                              Nicolas Alix Groene (Nick Groene)   Treasury & Financial Institution Director

 Member                                              David Liswandi 2                    Act. Head of Operations and Technology

 Member                                              Victor Teja 3                       Head of Retail Banking

 Secretary and Member                                Estrelita Lestari                   Head of Operational Risk
1) Appointed as Act. Chief Risk Officer on 4 April 2023
2) Member since 12 June 2023
3) Resigned effective from 4 November 2023



Duties and Responsibilities
The New Products and Activities Committee is primarily tasked to supervise the development of new products, services, and
activities and their implementation in line with the Bank’s strategy and business plan, evaluate and approve them, and evaluate
their benefits and risks for the Bank.
2023 Duties
Through its meetings in 2023, the New Products and Activities Committee conducted the duties as per its remit.




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2023 Highlights     Reports to Stakeholders   Company Profile      Management Discussion and Analysis           Corporate Governance         Sustainability




Information Technology Committee
Legal Basis of Establishment
The Information Technology Committee was established under the BoD Decree which was most recently amended with the BoD
Decree No. 053/SK-DIR/X/2023 dated 19 October 2023. The Information Technology Committee is responsible for assisting
the BoD by providing directives and recommendations on information technology (IT) strategies, development, and
implementation.
Meeting
The Information Technology Committee conducted 4 meetings in 2023.
Composition
The Information Technology Committee consists of members whose functions are relevant to the Bank’s IT-related activities.
The table below lists the committee members:


            Membership Structure                                   Name                                             Position in Bank

 Chairman and Member                            Haryanto Suganda                                   President Director

 Co-Chairman and Member                         Soemenggrie Jongkamto                              Finance Director

 Secretary and Member                           David Liswandi                                     Head of IT

 Member                                         Nicolas Alix Groene (Nick Groene)                  Treasury & Financial Institution Director

 Member                                         Farel Tua Silalahi1                                Chief Risk Officer

 Member                                         Victor Teja 2                                      Head of Retail Banking

 Member                                         Haryuninglistia Setiantini 3                       Act. Chief Risk Officer

 Member                                         Nancy Prasetijo3                                   Act. Head of Retail Banking
1) Resigned effective from 21 October 2023
2) Resigned effective from 4 November 2023
3) New members in 2023



Duties and Responsibilities
The Information Technology Committee is primarily tasked to establish strategic framework for managing IT resources, monitor
IT performance and improvements, ensure consistency of IT implementation with the Bank’s strategic objective and the IT plan,
and establish IT budget’s priorities for allocation.
2023 Duties
Through its meetings in 2023, the Information Technology Committee evaluated the Bank’s IT systems, reviewed and made decisions
regarding proposed IT projects while also determined its priorities to ensure that information technology plan is consistent/in
line with the Bank’s strategic objective. The Information Technology Committee also discussed various IT issues including
audits, human resources, and evaluation of technology services providers.




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 109
Page 112
Committees Under the Board of Directors (Continued)
Human Resources Committee
Legal Basis of Establishment
The Human Resources Committee was established under the latest amendment to previous BoD Decree No. 005/SK-DIR/III/2020
dated 25 February 2020. The Human Resources Committee is responsible for assisting the BoD in improving effectiveness,
efficiency, objectivity, and transparency in decision-making related to human resources (HR) and ensure that the decisions are
aligned with the principles of good corporate governance.
Meeting
The Human Resources Committee conducted 4 meetings in 2023.
Composition
The Human Resources Committee consists of members whose functions are relevant to the Bank’s human resources management
activities. The table below lists the committee members:


           Membership Structure                                       Name                          Position in Bank

 Chairman                                            Haryanto Suganda                    President Director

 Alternate Chairman and Member                       Carina Hastari Tanubrata            Head of Human Resources

 Member                                              Soemenggrie Jongkamto               Finance Director

 Member                                              Nicolas Alix Groene (Nick Groene)   Treasury & Financial Institution Director

 Member                                              Windiartono Tabingin                Compliance Director

 Member                                              Farel Tua Silalahi1                 Chief Risk Officer

 Member                                              Victor Teja 2                       Head of Retail Banking

 Member                                              Romy Yulianto Santoso               Chief Auditor
1) Resigned effective from 21 October 2023
2) Resigned effective from 4 November 2023



Duties and Responsibilities
The Human Resources Committee is primarily tasked to ratify the HR strategic plan, ensure the alignment between HR projects
and the HR strategic plan and each project’s planning, ratify HR training and development programmes in line with the Bank’s
needs, minimise the potential of HR-related risk, oversee the HR performance assessment and improvement, as well as settle
various HR-related issues and grievances.
2023 Duties
The Human Resources Committee, through its meetings in 2023, discussed and determined the Bank’s HR strategy made manifest
in a series of HR strategic initiatives, such as Management Development Programme (MDP), Learning Development Plan,
Benefits and Compensation, Employee Engagement Initiatives, and Disciplinary Actions.
The Committee also approved the budget for employee training and development, and discussed the management of staff cost
and improvement on employee benefit. In the meetings, the Committee received reports related to enhance the BoD’s oversight
of HR situations via the Monthly HR Dashboard.




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2023 Highlights    Reports to Stakeholders   Company Profile   Management Discussion and Analysis           Corporate Governance         Sustainability




Fraud Oversight Committee
Legal Basis of Establishment
The Fraud Oversight Committee was established under the BoD Decree No. 060/SK-Dir/XI/2023 dated 9 November 2023. The Fraud
Oversight Committee is responsible for providing oversight and management of the handling of fraud risk, and investigating
fraudulent reports and activities in an objective and fair manner.
Meeting
The Fraud Oversight Committee conducted 4 meetings in 2023.
Composition
The Fraud Oversight Committee consists of members whose functions are relevant to the Bank’s fraud risk control and oversight
activities. The table below lists the committee members:


            Membership Structure                               Name                                             Position in Bank

 Chairman and Member                           Haryanto Suganda                                President Director

 Alternate Chairman and Member                 Windiartono Tabingin                            Compliance Director

 Member                                        Carina Hastari Tanubrata   1
                                                                                               Head of Human Resources

 Member                                        Haryuninglistia Setiantini1                     Act. Chief Risk Officer

 Secretary                                     Inggrid Ratna Hindiyani1                        Head of Financial Crime Compliance
1) New members in 2023



Duties and Responsibilities
The Fraud Oversight Committee is primarily tasked to provide supervision and guidance on fraud risk management programmes,
determine action plans and follow-up actions on results of fraud investigations, as well as to review the fraud risk control
environment and assessment process.
2023 Duties
Through its meetings in 2023, the Fraud Oversight Committee supervised the implementation of anti-fraud strategy and monitored
investigation results and their follow-up.




                                                                                                    PT Bank QNB Indonesia Tbk Annual Report 2023 — 111
Page 114
Committees Under the Board of Directors (Continued)
Credit Policy Committee
Legal Basis of Establishment
The Credit Policy Committee was established under the BoD Decree No. 018/SK-Direksi/IX/2018 dated 6 September 2018, with
the latest amendment being the BoD Decree No. 024/SK-DIR/III/2024 dated 20 March 2024 applied retroactively.
Meeting
The Credit Policy Committee conducted 2 meetings in 2023.
Composition
The Credit Policy Committee consists of members whose functions are relevant to the Bank’s credit policy formulation activities.
The table below lists the committee members:


           Membership Structure                                         Name                         Position in Bank

 Chairman and Member                                 Haryanto Suganda                     President Director

 Alternate Chairman and Member                       Farel Tua Silalahi1                  Chief Credit Officer

 Alternate Chairman and Member                       Lia Indriani 2                       Act. Chief Credit Officer

                                                                                          Head of Credit Remedial, Act. Head of
 Secretary and Member                                Lia Indriani
                                                                                          Credit Policies and Governance

                                                                                          Corporate & Institutional Banking
 Member                                              Geoffry Nugraha 3
                                                                                          Director

                                                                                          Act. Corporate & Institutional Banking
 Member                                              Nicolas Alix Groene (Nick Groene)4
                                                                                          Director

 Member                                              Victor Teja 5                        Head of Retail Banking

 Member                                              Nancy Prasetijo6                     Act. Head of Retail Banking

 Member                                              Haryuninglistia Setiantini           Act. Chief Risk Officer

 Non-Voting Member                                   Romy Yulianto Santoso                Chief Auditor
1) Resigned on 21 October 2023
2) Double-hatting
3) Resigned on 31 May 2023
4) New Member in 2023
5) Resigned on 4 November 2023
6) New Member in 2023



Duties and Responsibilities
The Credit Policy Committee is primarily tasked to advise the BoD in formulating the credit policy and supervising its
implementation, as well as monitor the development of credit portfolio, implementation of credit approval, Legal Lending Limits
of the Bank, and compliance with laws and regulations relating to credit.
2023 Duties
Through its meeting in 2023, the Credit Policy Committee conducted its duties as per its remit.




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2023 Highlights      Reports to Stakeholders    Company Profile       Management Discussion and Analysis           Corporate Governance         Sustainability




Operational Risk Committee
Legal Basis of Establishment
The Operational Risk Committee is governed under the latest amendment to the BoD Decree No. 036/SK-DIR/VII/2023 dated
4 July 2023. The Operational Risk Committee is responsible for supporting the supervision and monitoring of the implementation
of operational risk management in the Bank.
Meeting
The Operational Risk Committee conducted 4 meetings in 2023.
Composition
The Operational Risk Committee consists of members whose functions are relevant to the Bank’s operational risk control activities.
The table below lists the committee members:


            Membership Structure                                      Name                                             Position in Bank

 Chair and Member                                 Haryuninglistia Setiantini                          Act. Chief Risk Officer1

 Alternate Chair and Member                       Haryanto Suganda                                    President Director

 Member                                           Windiartono Tabingin                                Compliance Director

 Member                                           Soemenggrie Jongkamto                               Finance Director

 Member                                           Nicolas Alix Groene (Nick Groene)2                  Treasury & Financial Institution Director

 Member                                           Farel Tua Silalahi 3                                Chief Credit Officer

 Member                                           Lia Indriani                                        Act. Chief Credit Officer4

 Member                                           Carina Hastari Tanubrata                            Head of Human Resources

                                                                                                      Director of Corporate & Institutional
 Member                                           Geoffry Nugraha 5
                                                                                                      Banking

 Member                                           Victor Teja6                                        Head of Retail Banking

 Member                                           Nancy Prasetijo                                     Act. Head of Retail Banking 7

 Member                                           David Liswandi8                                     Act. Head of Operation and Technology

 Secretary and Member                             Estrelita Lestari                                   Head of Operational Risk
1) Appointed as Act. Chief Risk Officer on 4 April 2023
2) Member since 4 July 2023
3) Resigned effective from 21 October 2023
4) Appointed as Act. Chief Credit Officer on 21 October 2023
5) Resigned effective from 31 May 2023
6) Resigned effective from 4 November 2023
7) Appointed as Act. Head of Retail Banking on 6 November 2023
8) Member since 4 July 2023



Duties and Responsibilities
The Operational Risk Committee is primarily tasked to propose operational risk strategies, framework, policies, procedures,
methodologies, tools, and their changes, review the Bank’s operational risk profile and exposure and ensure their adequacy,
approve corrective action plans to improve any control weaknesses and risks, ensure that operational risk control and
monitoring processes are consistent with internal procedures, regulations, and best practices, discuss and deliberate on
operational risk event mitigation, and other related issues.
2023 Duties
Through its meetings in 2023, the Operational Risk Committee conducted the duties as per its remit.




                                                                                                           PT Bank QNB Indonesia Tbk Annual Report 2023 — 113
Page 116
Committees Under the Board of Directors (Continued)
Anti-Money Laundering and Combating the Financing of Terrorism Committee
Legal Basis of Establishment
The Anti-Money Laundering and Combating the Financing of Terrorism Committee (AML CFT Committee) was established under
the BoD Decrees No. 030/SK-DIR/VI/2022 dated 14 June 2022. The AML CFT Committee is responsible for assisting the BoD in to
oversee and ensure the effectiveness of the management of AML CFT CPF and Sanctions Programmes.
Meeting
The AML CFT Committee conducted 4 meetings in 2023.
Composition
The AML CFT Committee consists of members whose functions are relevant to the Bank’s AML CFT CPF and Sanctions compliance
activities. The table below lists the committee members:


           Membership Structure                                       Name                             Position in Bank

 Chairman and Member                                 Haryanto Suganda                       President Director

 Alternate Chairman and Member                       Windiartono Tabingin                   Compliance Director

                                                                                            Corporate & Institutional Banking
 Member                                              Geoffry Nugraha1
                                                                                            Director

                                                     Farel Tua Silalahi 2/Haryuninglistia   Chief Risk Officer/Act. Chief Risk
 Member
                                                     Setiantini 3                           Officer

 Member                                              David Liswandi                         Operations and Technology

 Member                                              Carina Hastari Tanubrata 3             Head of Human Resources

 Member                                              Victor Teja/Nancy Prasetijo   3
                                                                                            Head of Retail Banking

 Member                                              Muhammad Habib Ubaidillah 3            Head of Regulatory Compliance

 Secretary                                           Inggrid Ratna Hindiyani                Head of Financial Crime Compliance
1) Resigned effective from 31 May 2023
2) Resigned effective from 21 October 2023
3) New members in 2023


Duties and Responsibilities
The AML CFT Committee is primarily tasked to oversee and assess the AML CFT CPF and Sanctions Programmes, and if required
to manage (in terms of monitoring, stopping, etc.) business activities where AML CFT CPF and Sanctions risks are not aligned
with the Bank’s risk appetite, including the management of financial crime risk.
2023 Duties
Through its meetings in 2023, the AML CFT Committee supervised the implementation and provided insight for the improvements
of AML CFT CPF and Sanctions Programmes.




114 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights    Reports to Stakeholders   Company Profile       Management Discussion and Analysis           Corporate Governance         Sustainability




UCan Product Committee
Legal Basis of Establishment
The UCan Product Committee was established under the BoD Decree No. 047/SK-DIR.XII/2022 dated 21 December 2022. The UCan
Product Committee is responsible for providing leadership, direction, oversight across the planning and execution of products,
programmes, services, and activities of UCan digital loan to align with the vision and strategic direction of the Bank, while
ensuring the implementation of good corporate governance principles in every business activities of the Bank at all levels of
the organisation.
Meeting
The UCan Product Committee conducted 12 meetings in 2023.
Composition
The UCan Product Committee consists of members whose functions are relevant to the Bank’s activities related to UCan intiatives.
The table below lists the committee members:


            Membership Structure                                   Name                                             Position in Bank

 Chairman and Member                           Haryanto Suganda                                    President Director

 Vice Chairman and Member                      Nancy Prasetijo                                     Act. Head of Retail Banking

 Secretary and Member                          Ronald                                              Head of Retail Product Management

 Member                                        Soemenggrie Jongkamto                               Finance Director

 Member                                        Nicolas Alix Groene (Nick Groene)                   Treasury & Financial Institution Director

 Member                                        Haryuninglistia Setiantini                          Act. Chief Risk Officer

 Member                                        Estrelita Lestari                                   Head of Operational Risk

 Member                                        David Liswandi                                      Head of Information Technology

 Member                                        Lia Indriani                                        Head of Credit Remedial

 Member                                        Ibnu Gutomo                                         Head of Strategy Execution

 Permanent Invitee                             Windiartono Tabingin                                Compliance Director

 Permanent Invitee                             Romy Yulianto Santoso                               Chief Auditor

 Permanent Invitee                             Muhammad Habib Ubaidilah                            Head of Regulatory Compliance

 Permanent Invitee                             Santri Elfrida Simamora                             Retail Collection Head

 Permanent Invitee                             Charly Ferdinandus                                  Head of Operations

 Non-Permanent Invitee                         Niken Ratmitasari                                   Head of Legal

 Non-Permanent Invitee                         Inne Eliza Indriantie                               Head of E-Channel

 Non-Permanent Invitee                         Goeroeh Andhi Djaja L.                              Head of IT Security & Risk Management


Duties and Responsibilities
The UCan Product Committee is primarily tasked to ensure good corporate governance towards the process of products,
programmes, services, as well as activities development and aligning them with the Bank’s vision, mission, and business plan.
UCan Product Committee is also responsible to supervise, evaluate, approve, and ensure procedure availability related to
implementation of product, programmes, services and activities. Lastly, UCan Product Committee evaluates the benefits and risk
to the Bank on the products, programmes, services and activities of UCan.
2023 Duties
Through its meetings in 2023, the UCan Product Committee introduced the aim and objectives of the committee for UCan digital
loan product while aligning to the Bank’s vision, mission, and strategy, while ensuring realistic deliverables and incremental to
be able to compete in the ever-changing market.




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 115
Page 118
Committees Under the Board of Directors (Continued)
Governance Risk and Compliance Committee
Legal Basis of Establishment
The Governance, Risk and Compliance Committee (GRC Committee) was established under the BoD Decree No. 047/SK-DIR/VIII/2023
dated 21 August 2023. The GRC Committee is responsible for supporting effective implementation of the BoD’s duties and
responsibilities in implementing Good Corporate Governance (GCG) principles in every business activity of the Bank’s at every
level of the organisation.
Meeting
Upon its establishment on 21 August 2023, the GRC Committee conducted 3 meetings in 2023.
Composition
The GRC Committee consists of members whose functions are relevant to the Bank’s governance and compliance.
The table below lists the committee members:


           Membership Structure                                          Name                   Position in Bank

 Chairman and Member                                 Windiatono Tabingin            Compliance Director

 Vice Chairman and Member                            Haryuninglistia Setiantini     Act. Chief Risk Officer

 Secretary and Member                                Muhammad Habib Ubaidillah      Head of Regulatory Compliance

 Alternate Secretary and Member                      Titin Agustina                 Compliance Advisory Head

 Member                                              Inggrid Ratna Hindiyani        Head of Financial Crime Compliance

 Member                                              Indah Mathilda                 Head of Corporate Secretary

 Member                                              Estrelita Lestari              Head of Operational Risk


The GRC Committee meetings may also be attended by non-permanent invitees, i.e., all division heads in the Bank.


Duties and Responsibilities
The GRC Committee is tasked to disseminate subjects related to GRC to all employees of the Bank, request updating and
improvement of policies, regulations, systems and procedures of the Bank to comply with OJK provisions and other prevailing
laws and regulations, inform the units and divisions affected by new and updated regulations, and respond to these new
regulations by completing any requirements.
Implementation of Tasks
Through its meetings in 2023, the GRC Committee disseminated all regulatory provisions issued by Bank Indonesia, OJK, and
other authorities, recommended changes to the Bank’s internal regulations, conveyed the impacts and obligations of the Bank
related to new regulations, and determine the persons in charge for ensuring the Bank’s compliance with the new provisions.




116 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights     Reports to Stakeholders   Company Profile   Management Discussion and Analysis           Corporate Governance         Sustainability




Corporate Secretary
Legal Basis
The Corporate Secretary is directly responsible to the BoD and is under the supervision of the Compliance Director. The holder of
this position is appointed and dismissed based on BoD Decrees. The legal reference for the Corporate Secretary’s appointment is
the BoD Decree No. 005/SK-HMSD-HRBP/V/2018 dated 11 May 2018.

Profil
The Corporate Secretary position is currently held by Indah Mathilda. She is domiciled in Jakarta. The complete profile is provided
in the Executive Management Profiles section, on page 52.

Implementation of Duties in 2023
The Corporate Secretary plays a special role in assisting the BoD and the BoC in:
> Maintaining communication by preserving open and excellent line of communication between the Bank and capital market
  regulators, authorities, investors, and the public through the submission and dissemination of various corporate reports,
  liaising between the BoD, the BoC, and the shareholders, and responding to stakeholders’ inquiries; and
> Implementing corporate governance of the Bank by submitting and publishing information disclosure, helping organise the
  BoD and BoC meetings, the GMS, and corporate actions.
In 2023, the Corporate Secretary discharged her duties in providing and submitting reports/information in a timely, accurate,
and transparent manner, preparing and holding the BoC and BoD meetings in line with the Bank’s regulations and needs, and
conducting the EGMS, AGMS, and the Rights Issue VII.


Corporate Secretary’s Competence Enhancement Programmes in 2023

             Date                                    Training & Seminar                                          Type               Organiser

 28 February 2023              APU PPT Refreshment 2023                                                       E-learning              Internal

 3 April 2023                  Sanctions Awareness 2023                                                       E-learning              Internal

 3 May 2023                    Anti Fraud, Anti Bribery & Corruption 2023                                     E-learning              Internal

                               Risk Awareness 2023 (Business Continuity Management,
 4 June 2023                   Information Security Policy, Operational Risk,                                 E-learning              Internal
                               Bank Soundness Level)

 9 July 2023                   Modul Internal Audit 2023                                                      E-learning              Internal

 9 July 2023                   Business Continuity Coordinators Awareness Training 2023                       E-learning              Internal

 3 August 2023                 Cyber Awareness 2023                                                           E-learning              Internal

 19–20 September 2023          CG Officer Workship Series Investor Relations Batch 3                          Workshop                External

                               Explanation on Exchange Regulation No. I-A of 2021 on Free
 6 October 2023                Float Provisions and Use of E009 Form in SPE IDXnet                             Webinar                   IDX
                               Reporting System

                               Focus Group Discussion (FGD) Licences for Managers and
 27 October 2023                                                                                                  FGD                 External
                               Ownership (OJK)

 7 November 2023               Personal Data Protection                                                         Online                Internal

 15 November 2023              Chinese Wall & System Comply                                                     Online                Internal

                               Economic Potential and Indonesia Capital Market in Boosting
 21 November 2023                                                                                              Seminar                Internal
                               Free Float & Liquidity of Listed Companies’ Shares Trading

                               Refreshment In-house Cohorts 6 & 7 (Risk Management                              Offline
 6 December 2023                                                                                                                      External
                               Certification Refreshment Session for Executives)                               Training




                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 117
Page 120
Internal Audit
The Internal Audit Division provides independent,                              The Internal Audit Division is headed by the Chief Auditor,
objective assurance, consulting and advisory services                          who reports directly to the President Director and/or the
to add value and improve the Bank’s operations. The division                   BoC through the Audit Committee. This responsibility
accomplishes its role by bringing a systematic and                             includes the reporting of internal audit results on the
disciplined approach to evaluate and improve the                               adequacy and effectiveness of the governance framework,
effectiveness of the organisation’s risk management,                           internal control system and risk management process of
control, and governance processes.                                             the Bank.
Internal Audit Division is established to examine that the                     Audit reports are submitted to the BoC, Audit Committee,
Bank’s operations in all lines of business, supporting units                   President Director, and Compliance Director. Internal
and branches are conducted according to the highest                            Audit can submit reports directly to the BoC if
standards; to provide independent, objective assurance                         communication with the President Director is deemed
and consulting activity designed to add value and improve                      inappropriate. Chief Auditor is appointed and dismissed by
the Bank’s operations; and to advise the Bank on best                          the President Director after obtaining approval from the
practices.                                                                     BoC by considering the Audit Committee recommendations
The Internal Audit Division acts professionally and ethically                  and reported to OJK.
in executing its role, by complying with the mandatory                         The mission of Internal Audit is to enhance and protect
elements of the regulatory requirements, Institute of Internal                 organisational value by providing risk-based and objective
Auditor’s International Professional Practices Framework                       assurance, advice, and insight.
and the PT Bank QNB Indonesia Tbk’s policies and procedures
and adopting standard guidelines and best practices issued                     Structure & Position
by professional bodies such as the Basel Committee, IIA,                       As of end of 2023, the Internal Audit Division had
ISACA, COSO, etc.                                                              17 employees. All members are experienced professionals
The Internal Audit Division possesses an Internal Audit                        who are independent and who fulfill all the requirements
Charter and Policy, which have been enhanced to align                          as internal auditors. The division is supported by
with OJK regulations and the Basel Committee on Banking                        specialists, such as Corporate Banking and Credit,
Supervision’s recommended standards to provide adequate                        Governance, Treasury, and Support Functions, Retail,
oversight of the Bank’s functions and approved by the BoC                      Private Banking and Operations, Information Technology
in the form of Bank Circular No. 1/04/007.02/XI/2023                           and Information Security (IT & IS), and Follow up,
dated 8 November 2023.                                                         Methodology & Quality Assurance.


Internal Audit Organisational Structure


                                                              President Director
      Audit Committee                                               (CEO)
                                                              Haryanto Suganda



                                                                Chief Auditor
                                                               Romy Yulianto
                                                                 Santoso




           Retail,                      Governance,
                                                                                                Corporate                Follow Up,
      Private Banking                   Treasury and               IT & IS
                                                                                             Banking & Credit           Methodology &
      and Operations               Support Functions Audit        Audit Head
                                                                                               Audit Head                 QA Head
        Audit Head                          Head
                                                                 Lius Pritantyo
                                                                                                  Rianto                   Ko Sutan
       R. Andy Yusuf                        Karina




                                        Governance,
           Retail,                      Treasury and                IT & IS                     Corporate
      Private Banking             Support Functions Auditor         Auditor                  Banking & Credit
      and Operations
                                       Felicia Gunawan          Arifin Tambunan                  Auditor
          Auditor
                                       Heriati Setyarina              Lily                    Sri Handayani
       Rini Pratiwindi
                                     Ni Nyoman Suryani             Indrajaya                  Ellieser Verdian
      Moech Harianto
                                      Maura Karina Nauli




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Chief Auditor Profile, Qualifications & Competence                       7. Develop Key Performance Indicators (KPIs) to ensure the
Development                                                                  continuous improvement of the Internal Audit.
                                                                         8. Establishment of Internal Audit policies and procedures
The Chief Auditor position is held by Mr. Romy Yulianto
                                                                             as a guideline of the Internal Audit activities.
Santoso, an Indonesian citizen, 45 years of age. His profile
                                                                         9. Permanent attendance in the Audit Committee meetings
is presented in the Executive Management Profiles section
                                                                             and provide advice and support whenever required.
in this Annual Report, page 51.
                                                                         10. Internal Audit can use the services of external parties in
He was appointed as the Chief Auditor on 1 July 2020                         carrying out internal audits which require special
pursuant to the BoD Decree No. 510/SK-HMSD-ES/VII/2020.                      expertise and temporary can be excluded for:
He holds a bachelor’s degree in Accounting from                              a. Use of external services related to information
Bina Nusantara University, Jakarta (2001). He is active                          technology.
as a member of Bank Internal Audit Association (IAIB).                       b. Use of external party services for other matters
His previous positions include Head of Internal Audit at                         based on approval from the OJK.
Bank KEB Hana (2019), Head of Retail, Branch & Network                       Use of external services for internal audit activities must
Audit at Bank Maybank Indonesia (2015–2019), Head of                         pay attention to:
Consumer Banking Quality Assurance at Bank Danamon                           a. Transfer of knowledge from external parties to
Indonesia (2012–2015), Head of Audit Planning,                                   internal audit.
Development & Quality Assurance at Bank OCBC NISP                            b. Use of external party services does not affect the
(2010–2012), as well as various positions at internal audit                      independence and objectivity of the internal audit
Bank UOB Indonesia (2001–2010).                                                  function.
                                                                             c. External parties comply with the Internal Audit
He earned the Indonesia Internal Audit Practitioners
                                                                                 Charter.
(IIAP) from IIA Indonesia in 2023 and participated in
                                                                             d. External parties must comply with the Bank’s audit
audit-related competence development programmes,
                                                                                 methodology, processes and documentation,
including Certified Internal Auditor (CIA) Exam,
                                                                                 starting from the preparation stage to audit
Understanding COSO 2013 Framework by IIA Indonesia,
                                                                                 reporting.
Level IV Risk Management Certification from Lembaga
                                                                             e. External party is not allowed to be a team leader,
Sertifikasi Profesi Perbankan (LSPP), and Executive
                                                                                 provide consultancy services on activities that
Development Programme by Future Leader International.
                                                                                 contain a conflict of interest, and must comply with
Chief Auditor Responsibilities and Accountability                                assignment restrictions and the cooling-off period
                                                                                 (maximum of 3 consecutive periods and with a
The Chief Auditor has the responsibility to:                                     cooling-off period of at least 1 period before the
1. Ensure the implementation of Internal Audit functions                         Bank can use the same external service provider).
   in accordance with the regulatory requirements,                           f. The process of selecting external party services
   Internal Audit Professional Standards and the Internal                        will be carried out independently, involving related
   Audit Code of Ethics;                                                         parties in accordance with Bank regulations.
2. Responsible for acquiring human resources with                            g. Selected external parties are required to sign
   appropriate qualifications and skills to ensure that                          a confidentiality agreement for bank data and
   Internal Audit possesses the required competence                              information.
   to examine all areas in which the Bank operates.                          h. The use of external party services for a certain period
   Moreover, Internal Audit shall promote continuous                             must be reported to the OJK.
   professional development, to make sure that skills and
   knowledge are maintained to a high standard,                          Internal Audit Qualification & Certification
   and supports globally-recognized professional                         Internal auditors in the Internal Audit Division shall meet
   certifications and qualifications so that Internal Audit              the following requirements:
   team members possess the skills and other competencies
                                                                         1. Have integrity and professional conduct, independent,
   to perform their responsibilities;
                                                                            honest and objective in performing the duties.
3. Compile and review the internal audit charter at least
                                                                         2. Have the knowledge and experience of the technical audit,
   once every 3 (three) years;
                                                                            knowledge of management principles, processes and
4. Prepare an annual internal audit plan with budget
                                                                            activities of the Auditee and other disciplines relevant
   allocation for the implementation of internal audit
                                                                            to the field of assignment.
   functions to be approved by President Director and BoC
                                                                         3. Have knowledge of the laws and regulations in the
   in consideration to Audit Committee’s recommendation
                                                                            banking and capital markets and other related
   and ensure the implementation of the approved internal
                                                                            regulations.
   audit plan;
                                                                         4. Have the ability to interact and communicate both
5. Report significant findings to the BoD to take corrective
                                                                            verbally and in writing effectively.
   actions and monitor corrective actions for significant
                                                                         5. Comply with the Code of Ethics for Internal Audit.
   findings;
                                                                         6. Adhere to professional standard released by Institute
6. Periodic reporting to the President Director and BoC
                                                                            of Internal Auditors (IIA).
   with a copy to the Audit Committee and director in
                                                                         7. Maintain confidentiality of information and/or data of
   charge of the compliance function on significant risk
                                                                            the company, related to performing the duties and
   exposures and control issues, and monitoring follow-up
                                                                            responsibilities of the Internal Audit unless required by
   improvements to significant findings.
                                                                            legislation or stipulation of the court.



                                                                                                    PT Bank QNB Indonesia Tbk Annual Report 2023 — 119
Page 122
Internal Audit (Continued)
8. Understand the principles of Good Corporate Governance                IT and Information Security Division, and other
    and Risk Management.                                                 functions to ensure that risks are appropriately
9. Improve the knowledge, skills and professionalism                     identified and managed.
    abilities continuously.                                         e. Reporting significant risk exposures and control
10. Maintain Independence (not performing other tasks,                   issues, including fraud risks, governance issues, and
    functions or doing operations activities) at the Bank,               other matters needed or requested by the President
    except the Internal Audit operations assigned from                   Director and the BoC through the Audit Committee.
    time to time.                                                   f. Evaluating specific operations at the request of the
To improve the competence of auditors and objectivity of                 President Director and the BoC through the Audit
the audit results, the Internal Audit Division employees                 Committee or regulators, as appropriate.
participate in various training programmes, both internal        3. Provide recommendations for improvement related to the
and external, seminars, and workshops on an ongoing                  activities reviewed at all levels of Management.
basis. Competence enhancement programmes held in 2023            4. Prepare the audit report and submit it to the President
included mandatory trainings and exam certifications on              Director and the BoC through the Audit Committee
anti-fraud, anti-bribery and corruption; cyberawareness;             with a copy to the Compliance Director.
risk awareness; AML-CFT refreshment; internal audit              5. Assisting the President Director and the BoC in preparing
control and risk awareness, and others.                              the reporting to OJK regarding:
                                                                     a. The implementation and summary of audit results
At present, the Internal Audit Division is supported by                   including strictly confidential information of the
experienced and competent auditors with expertise in                      audit results.
a range of fields, including banking operations, governance,         b. Findings which may compromise the going concern
treasury, and support functions, as well as information                   of the Bank.
technology and information security. All internal auditors           c. The external review report outlining the
have been certified by the Indonesian Risk Management                     performance of audit work and its compliance
Certification Board (BSMR), and a majority of them hold                   against implementation standard of bank internal
certifications relevant to the field of internal audit,                   audit function as well as corrective actions being
including Indonesia Internal Audit Practitioners (IIAP)                   performed. The external review is conducted at
from IIA Indonesia, Certified Information System Auditor                  least once every 3 years.
(CISA), Certified Information Security Manager (CISM),           6. Report immediately any audit findings that could disrupt
and Certified Ethical Hacker (CEH).                                  the Bank’s operations to the President Director and the
                                                                     BoC through Audit Committee.
Duties & Responsibilities
                                                                 7. Monitor audit findings follow-up and report periodically
The Internal Audit Division executes its duties and                  to the President Director and the BoC through Audit
responsibilities as stipulated in detail in the Internal Audit       Committee.
Charter. In general, the Internal Audit Division must conduct    8. Exercise due professional care in the discharge of its
the following:                                                       responsibilities and must ensure that the confidentiality
1. Assisting President Director and the BoC in preparing and         of all records and information accessed in the course of
    implementing the audit plan, as well as monitoring of            its work is maintained/protected.
    audit results.                                               9. In cases where Internal Audit is requested to undertake
2. Identify and report on issues, deficiencies or weaknesses         reviews involving incidents of major control failure,
    in Bank's systems and processes for controlling its              significant financial losses or fraud, such reviews shall
    activities and managing risks, through risk-focused              focus on the identification of control gaps, process
    examination and assessment of specific samples of                weaknesses and areas to strengthen internal controls.
    systems, processes, and controls covering:                       Concerned divisions, shall be primarily responsible for
   a. The adequacy and reliability of systems (including             conducting detailed investigations including the
       the relevant technology) and procedures.                      determination of employee accountabilities and
   b. Compliance with corporate objectives, strategies               necessary legal action and regulatory reporting.
       and control guidelines issued by management; as
       well as with laws and regulation, Otoritas Jasa           2023 Activities
       Keuangan (OJK), and other regulatory bodies as            In 2023, the Internal Audit Division carried out regulatory
       may be applicable to the business of the Bank.            and regular audits in 2 branch offices, 2 audits related to
   c. Evaluating the design and effectiveness of the             head office functions, 1 audit related to information
       organization’s risk management, control and               technology and information security (IT & IS), 9 integrated
       governance processes.                                     audits related to IT & IS and head office functions, and
   d. Performing consulting and advisory services related        5 audits related to credit.
       to governance, risk management and control                Audits were conducted based on the Risk-Based Audit
       as deemed appropriate by the Chief Auditor and Audit      approach, using appropriate techniques for document
       Committee, including ongoing collaboration with           review, interviews, financial analysis and comparison,
       Compliance Division, Risk Management Division,            confirmation, and data processing.




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In addition, the Internal Audit Division met 8 times with the Audit Committee in 2023.
Audit Findings in 2023 (as of December 2023)

                  Audit                         Total Findings                   Completed (%)                             In Progress (%)
 Internal (2023)                                      191                               66%                                        34%
 External (2023)                                       78                               97%                                        3%


Most of the significant findings by the Internal Audit in 2023 had been resolved satisfactorily by the end of the reporting period.

Quality Assurance and Improvement Programme
The Internal Audit maintains a quality assurance and improvement programme that covers all aspects of the internal audit
activity to increase the effectiveness and efficiency of the internal audit activity and identifies opportunities for improvement.
As required by OJK Regulations No. 1/POJK.03/2019 and No. 11/POJK.03/2022 and OJK Circular No. 21/SEOJK.03/2017, in 2020,
the Internal Audit has been reviewed by the Public Accounting Firm Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners,
with the result “Generally Conforms”. Further review will be carried out in 2026.

2024 Strategy
Going forward, the Internal Audit Division will continue to be a strategic partner for the Bank, by providing reasonable and objective
assurance as well as advisory and consulting services to the all stakeholders.




Internal Control System
The bank has established an effective internal control system that complies with the prevailing laws and regulations in order to
achieve safe and sound banking activities.
The bank’s internal control system is conducted through the separation of function, implementation of Four Eyes Principle,
Know Your Employee programme, inherent monitoring in related units, as well as the implementation of the rotation system and
block leave.

Internal Control System Implementation
The bank performs several measures to manage and control the financial and operational risks, as well as to ensure that
its business activities are in line with the applicable regulations. These measures include:
1.   Branch offices inspection through the Checklist Branch Visit.
2.   Ensuring compliance of operation transaction implementation in branch offices by completing the End of Day Checklist.
3.   Daily examination of the activation of dormant accounts, balanced sundry account, and overdraft balance.
4.   Examination of payment of deposit interest tax, clearing accounts, and savings to State Treasury Office.
5.   Conduct reviews for branch offices that need to be improved using the result of the finding.
In addition to the above, as the third line of defense, Internal Audit also performs audit on selected processes, activities,
products, services, or units based on the annual risk-based audit plan.

Review of Internal Control System Effectiveness
Internal control effectiveness is reviewed based on the bank’s activities. Evaluation results are then used to improve the bank’s
performance and also studied for the system to be improved systematically.
Based on the results of the application of internal control throughout 2023, the BoD has deemed the bank’s existing internal
control system to be adequate for its current scope of business practices.




                                                                                                        PT Bank QNB Indonesia Tbk Annual Report 2023 — 121
Page 124
Compliance Function
QNB Indonesia carries out its banking compliance function in a comprehensive manner in accordance with the OJK Regulation
No. 46/POJK.03/2017 and other applicable regulations. The Compliance Directorate, helmed by the Compliance Director, is
responsible for enforcing the Bank’s compliance across its business activities and integrating it as part of the work culture of its
stakeholders. The Compliance Directorate’s performance is supervised by the BoC, which evaluates the Bank’s compliance twice
yearly and provides recommendations to the BoD to improve compliance quality.

Structure
The organisational structure of the Bank’s compliance function, as stated in BoD Decree No. 04/SK-DIR/I/2024 dated 9 January
2024 on the Organisational Structure of PT Bank QNB Indonesia Tbk, is as follows:


                                                                         Compliance
                                                                          Director


                                                                                                   Secretary to
                                                                                                   Compliance
                                                                                                     Director
                                                                                                                                 Directors


                      Head of                                              Head of                             Head of
                    Regulatory                                         Financial Crime                        Corporate
                    Compliance                                           Compliance                           Secretary



  Compliance         Compliance                                Anti Fraud                              Corporate     Corporate   Secretary/
                                       Data Protection                                   AML
   Advisory            Review                                Management &                              Secretary     Secretary    Personal
                                         Specialist                                      Head
    Head                Head                               Investigation Head                           Officer       Officer    Assistant




  Compliance         Compliance
                                                      Anti Fraud        Anti Fraud        AML
   Advisory            Review
                                                     Investigator      Management        Officer
    Officer            Officer



The compliance function is carried out independently by                          The Head of Corporate Secretary has been held by Indah
all relevant parties, from the Compliance Director to all                        Mathilda, an Indonesian citizen, since 11 May 2018. She
staffs, without coercion or conflict of interest of                              obtained a Diploma from LPK Tarakanita. She has more than
shareholders, leaders, and management. This is in line                           23 years of banking experience, having served in various
with the Regulation and Compliance Policy                                        positions, including Head of Banking Marcom at Citibank
No. 2/07-CMPR/146.02/II/2022.                                                    Indonesia, Head of Marketing for Private Banking,
The Compliance Director’s profile is available in the Board                      Commercial and Branding and Segment Head for Retail
of Directors Profiles section of this Annual Report.                             Banking at PT Bank ANZ Indonesia. She is a member of
                                                                                 Indonesia Corporate Secretary Association (ICSA).
Division Heads Profiles                                                          COMPLIANCE DIVISION
The Head of Regulatory Compliance Division has been held by                      Strategy
Muhammad Habib Ubaidillah since 27 April 2023.
He obtained his Bachelor of Law from Islamic University of                       The Compliance Directorate implemented the Compliance
Indonesia and his Master of Law from Gadjah Mada                                 Strategy Map for 2023, themed “Compliance Culture
University, with a concentration on Business Law. Prior to                       Internalisation to Support Sustainable Business and
joining the Bank, he had worked in various other banks, such                     Operation”.
as PT Bank ICBC Indonesia and PT Bank CTBC Indonesia.                            Key actions related to this Compliance Strategy Map
The Head of Financial Crime Compliance Division, has                             encompass the following fields:
been held by Inggrid Ratna Hindiyani since January 2023.                         1. Creating and improving solid reporting and information
She obtained her Bachelor of Economics in Accounting                                systems;
from Padjajaran University. She previously served as                             2. Empowering organisational capacity and internal
AMLO CTF Head at PT Bank KEB Hana Indonesia, and in                                 processes;
the Regional Financial Crime Advisory, Asia Pacific of                           3. Entrenching compliance culture into the work culture
HSBC Corp. Ltd. Hong Kong.                                                          and values; and




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4. Ensuring the Bank’s compliance with the commitments                        g. Disseminate internal and external regulations via
   made by Bank to OJK or other authorised supervisory                           email blast; and
   authorities.                                                               h. Conduct assessments and reviews of policies, internal
The Compliance Strategy Map’s implementation in 2023                             regulations, BoD Decrees, and forms.
included the following activities:                                         2. Compliance Review Function
1. Conducting an automatic reminder system of report                          a. Ensure the Bank’s compliance with commitments made
   submission to regulators.                                                     by the Bank to Bank Indonesia, OJK, and other
2. Supporting financial target achievement with prudence.                        regulators and act as OJK audit liaison officer;
3. Building an effective collaboration with other work units.                 b. Ensure that reporting reminders submitted via COMPLY
4. Building internal process effectiveness to create reliable,                   have been sent and received by the relevant PIC to avoid
   strong, and disciplined work units.                                           potential delays and imposition of sanctions;
5. Strengthening organisational capacity.                                     c. Prepare and carry out reporting according to regulations,
Duties and Responsibilities                                                      for reports that must be made by the Compliance
                                                                                 Directorate;
The Compliance Function under the Compliance Director has                     d. Coordinate data requests from regulators in
the following key duties and responsibilities:                                   collaboration with various related divisions;
1. Formulating strategies to encourage the implementation                     e. Manage incoming and outgoing correspondence with
   of compliance culture;                                                        OJK, BI, and LPS;
2. Proposing compliance policies and principles to be                         f. Prepare and submit other compliance reports if required
   determined by the BOD;                                                        by Management;
3. Establishing compliance systems and procedures to                          g. Act as a bridge between the Bank and regulators to build
   develop the Bank’s internal regulations and guidelines;                       cooperative relationships;
4. Ensuring alignment of the Bank’s policies,                                 h. Ensure adequate knowledge in relevant banking laws/
   conditions, systems and procedures, and business                              regulations; and
   activities with the relevant regulations, as well as                       i. Strengthen Compliance Culture in all working units by
   evaluating their efficacy, adequacy, and compatibility;                       using the Compliance Self-Awareness Questionnaire
5. Identifying, measuring, monitoring, controlling, and                          (CSAQ) as a compliance testing implementation that
   minimising the Bank’s compliance risk to be within the                        illustrates the effectiveness of the compliance
   levels stated in OJK regulations;                                             programme.
6. Taking precautionary actions whenever necessary; and                    3. Personal Data Protection Function
7. Performing other tasks related to the Compliance
   Function.                                                                  a. Strengthen the Governance Structure by creating
                                                                                 policies and procedures related to the Implementation
The two subdivisions of the Compliance Directorate has the                       of Personal Data Protection as guidelines for the Bank.
following key duties and responsibilities:                                    b. Ensure the implementation of detection and prevention
1. Compliance Advisory Function                                                  of unauthorised data disclosure, data leakage, and
                                                                                 mishandling of data or inappropriate access.
  a. Support compliance programs that have been prepared
                                                                              c. Carry out Record of Process Activities (ROPA) and Data
     in the Compliance Strategy Map to encourage
                                                                                 Leakage Prevention (DLP) as a tool to identify DLP
     Compliance Culture;
                                                                                 incidents to mitigate malicious intent, negligence,
  b. Conduct reviews and ensure compliance checklists for
                                                                                 or unintentional disclosure of data that is used properly.
     Basic Bank Products and Advanced Bank Products are
                                                                              d. Monitor any data protection practices by design and
     in accordance with OJK regulations and other
                                                                                 default, data security and data subject rights.
     regulatory provisions.
                                                                              e. Identify violations or deficiencies with respect to Data
  c. Assist business units to follow up on progress
                                                                                 Protection standards.
     in licensing new products/activities;
                                                                              f. Ensure to continue to update regulations relating to
  d. Ensure fulfillment of Bank’s commitments to Bank
                                                                                 Data Protection and follow up on their implementation
     Indonesia, OJK, and other regulators and serve as a
                                                                                 and include them in related policies, procedures and
     liaison between the Bank and the regulators to build a
                                                                                 processes.
     cooperative relationship, especially those related to
                                                                              g. Provide guidance and advice regarding Data Protection
     licensing new products/activities;
                                                                                 issues to each stakeholder, if necessary.
  e. Ensure adequate dissemination of new regulations
                                                                              h. Participate in evaluating the implementation of GCG
     through various means, including through coordination
                                                                                 principles with related units.
     meetings, communication and providing
     recommendations as outlined in GRC (Governance, Risk                  2023 Achievements
     and Compliance) meetings, email blasts, or by providing               In 2023, the Bank further ensured that all of its policies,
     regular training to related work units;                               internal regulations, systems and procedures, as well as its
  f. Provide recommendations/reviews of Bank products/                     business products and activities were aligned with
     activities related to business processes, credit,                     applicable regulations. At all times, the Compliance
     operations and office networks;                                       Directorate supports the Bank to attain its financial targets




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 123
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Compliance Function (Continued)
with due regard to the principle of prudence, while also         8. Implemented the Compliance Reminder System
coordinating with all working units to create a stronger             (COMPLY) to the relevant working units periodically in
customer database, foster better business processes, and             connection with ad hoc, daily, weekly, monthly,
manage adequate reporting and information systems to                 quarterly semester, and annual reports; as well as
boost strategic decision-making. The Bank also began                 reviewing the report reminder system to ensure the PIC,
implementing personal data protection and continuing                 deadlines, regulations, and report formats are up to date.
anti-fraud programmes with stricter and more                         This is done by the Bank to minimise the potential for
comprehensive criteria, as well as implementing anti-money           errors when submitting the reports.
laundering, countering the financing of terrorism, and           9. Monitored the Bank’s commitment to the regulators as
counter proliferation financing of weapons of mass                   well as monitoring the imposition of fines from the
destruction in the financial services sector (AML CFT CPF).          regulators and holding coordination meetings with
The Bank ensures its compliance with new regulations issued          related units to minimise the potential for errors in the
in 2023 in the banking sector, in particular:                        future.
                                                                 10. Strengthened the culture of compliance risk management
1. Law No. 27/2022 on Personal Data Protection;                      by conducting regular outreach to related work units.
2. Bank Indonesia Regulation No. 3/2023 on Bank                  11. Prepared the implementation of the Bank’s internal
   Indonesia Consumer Protection;                                    control system in order to ensure compliance with
3. Bank Indonesia Regulation No. 7/2023 on Foreign                   applicable laws and regulations, including the Bank’s
   Exchange Proceeds from Exports and Foreign                        internal regulations.
   Exchange Payments for Imports;
4. OJK Regulation No. 8/2023 on Implementation of                Specifically, aside from the scope of compliance established
   Anti-Money Laundering, Combating the Financing of             for prior years, in 2023 the Bank also implemented the
   Terrorism, and Countering Proliferation Financing of          following:
   Weapons of Mass Destruction in the Financial                  1. Published new and/or revised internal regulations via
   Services Sector; and                                             the web portal/intranet.
5. OJK Regulation No. 17/2023 on Implementation of               2. Disseminated and communicated the latest regulations
   Governance for Commercial Banks.                                 issued by OJK, BI, and LPS in relation to the preparation
To mitigate compliance risk in 2023, the Regulatory                 for the submission of BI’s Integrated Reporting System
Compliance Division ensured compliance throughout all               for Commercial Banks (ANTASENA), updating the
work units in accordance with the provisions and                    OBOX Application data structure from OJK, fulfilling
performed the following:                                            the Macroprudential Inclusive Financing Ratio (RPIM),
                                                                    implementing BI-FAST, and submitting Single
1. Ensured the Bank’s compliance with OJK, Bank Indonesia,          Customer View (SCV) report via SCV Client Application
   LPS regulations and other relevant regulations by                to LPS.
   strengthening the Compliance Risk Management culture          3. Disseminated the Chinese Walls Policy, Compliance
   continuously, by improving the efficacy of compliance            and Governance Functions, other significant
   culture implementation. This involved regular GRC                regulations, and instructions to use COMPLY
   meetings with relevant work units.                               application.
2. Disseminated new regulations via email blast in the form      4. Informed the imposition of fines or the possibility
   of new regulations titled “Compliance News”, and                 of such application by the regulators to the Bank’s
   periodic training of compliance to all relevant work units.      Management, with copies sent to the Human Resources
3. Reviewed the implementation of plans for new products            Division via Compliance Internal Memo to improve
   and activities as well as changes in the office network to       compliance in reporting as per regulations, so that the
   ensure the Bank’s compliance with regulations in the             Bank might avoid being fined in the future.
   form of a self-assessment compliance checklist.               5. Monitored compliance by following up promptly the
4. Supported the Annual Work Plan to ensure that                    findings by the Internal Audit or regulators and ensuring
   the policies, systems, and procedures as well as                 that the subsequent implementation’s alignment with the
   the business activities of the Bank are aligned with Bank        prevailing regulations.
   Indonesia and OJK regulations and other applicable            6. Strengthened of the Compliance Culture among others by
   regulations, as well as prepared a Compliance Strategy           utilising the Compliance Self- Awareness Questionnaire
   Map with the theme “Compliance Culture Internalisation           (CSAQ) that reflects the efficacy of the compliance
   to Support Sustainable Business and Operation”.                  programmes.
5. Developed the Compliance Campaign as a reminder in            7. Monitored thresholds and ratios as determined by
   the form of email blasts.                                        regulators or the prevailing regulations.
6. Evaluated and enhanced policies related to the                8. Prepared a strong infrastructure by:
   management of internal procedures, so that they are              a. Aligning Compliance Documentation Infrastructure
   aligned with applicable regulations.                                (i.e. policies, procedures, manual steps, framework
7. Maintained good relations with regulators, among                    guidelines, and registers) with the prevailing
   others by ensuring the Bank’s compliance in relation to             regulations.
   the Bank’s commitments made to OJK, Bank Indonesia,              b. Implementing adequate control mechanism to prevent
   and/or other supervisory authorities, and ensuring                  disclosure of confidential information as described in
   that reports are submitted to regulators on time.                   regulations.




124 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights    Reports to Stakeholders   Company Profile     Management Discussion and Analysis           Corporate Governance         Sustainability




9. Encouraged the Compliance Monitoring Programme by:                      8. Conducting corporate actions of the Bank in accordance
    a. Reviewing and updating new regulations along with                       with applicable rules and regulations, including but not
       the changes into the Compliance Monitoring                              limited to GMS (Annual and Extraordinary) and Rights
       Programme.                                                              Issue.
    b. Ensuring proactive measurement or identification                    9. Ensuring the Bank’s corporate governance related to
       and preventive action for compliance related matters.                   compliance with regulations governing the BoD, the BoC,
10. Strengthened organisational capacity by:                                   and the Shareholders, including:
    a. Establishing the Data Protection Function to ensure                     a. Regarding the BoD and the BoC: composition of
       data protection governance and operational activities                      members, number of meetings, implementation of
       are in line with the laws and regulations.                                 duties and responsibilities, and independence.
    b. Implementing data protection technology to monitor                      b. Regarding the Shareholders: information disclosure
       compliance with data protection provisions.                                and independence.
11. Organised GRC forums at least once a month with other                  10. Disseminating the internal policies of the Corporate
    related work units, including regarding new regulations                    Secretary Division.
    and/or changes issued by the OJK and/or other                          11. Supporting the Corporate Secretary in converting
    supervisory authorities.                                                   disclosed reserves to shares, by providing regulatory
12. Established the Personal Data Protection Function to                       review as required.
    ensure effectiveness of personal data protection.                      12. Implementing the internal control system to ensure
Evaluation of Compliance Function Efficacy                                     compliance with applicable laws and regulations
                                                                               including the Bank’s internal regulations, effectiveness
Based on OJK Letter No. SR.33/PB.322/2023 dated                                and efficiency in operational activities, as well as
23 August 2023 regarding the Revision of the Bank’s                            effectiveness of risk culture in the Bank’s organisation
Business Plan for 2023–2025 and the Bank Soundness Level,                      as a whole.
the Compliance Directorate carried out the compliance
function comprehensively and effectively during 2023, as                   ANTI-MONEY LAUNDERING (AML)
shown by the Bank’s ability to maintain Bank Soundness                     To support the implementation of Anti-Money
Level and Corporate Governance Rating at 2 (Satisfactory),                 Laundering (AML), Counter-Terrorist Financing (CFT), and
as well as its Compliance Risk Profile at 2 (Low to Moderate).             Counter-Proliferation Financing of Weapons of Mass
The ability to evaluate, identify, assess, and mitigate                    Destruction (CPF), as well as Sanctions Programme,
compliance risks internally using the CSAQ resulted in a                   the Bank has appointed the AML Sub-Division as a part of
score of 114% (Target Partially Exceeded—TPE), where                       the Financial Crime Compliance (FCC) Division under the
management has been consistently proactive                                 Compliance Director’s supervision, with the scope of
in highlighting potential problems and risks. The Bank’s                   duties, among others:
practices meet or exceed the minimum requirements to                       1. Ensuring a risk-based and robust AML CFT CPF
ensure an effective compliance programme.                                     framework in line with both regulatory and
2024 Action Plan                                                              international best standards;
                                                                           2. Developing policies and procedures in accordance
In line with the Compliance Strategy Map, the Bank plans                      with regulations and recent developments of
to engage the following measures in 2024:                                     AML CFT CPF Programme by using a Risk-Based
1. Supporting the fostering of the Compliance Culture as                      Approach (RBA);
   stipulated in the Compliance Strategy Map (Annual Work                  3. Developing a robust and customised training
   Plan) for up to 2024, with “Compliance Culture                             programme;
   Internalisation to Support Sustainable Business and                     4. Ensuring reporting mechanisms are in place in line with
   Operation” as its tagline.                                                 regulatory expectations; and
2. Reviewing and providing recommendation on internal                      5. Ensuring compliance with all commitments it made as
   policies and regulations in alignment with new                             well as with regulatory reporting to regulators with
   regulations.                                                               regard to AML CFT CPF.
3. Evaluating the efficacy, adequacy, and alignment of the                 To strengthen AML CFT CPF Programme implementation,
   Bank’s policies, regulations, systems, and procedures                   the AML Sub-Division engages all relevant stakeholders to
   owned by Bank according to the applicable regulations.                  ensure compliance and maintain a robust policy/procedure
4. Reviewing plans for implementation of new product and                   and AML CFT CPF and Sanctions Programmes in
   activities as well as changes to office network to ensure               adherence to applicable laws and regulations. This is also
   the Bank’s compliance with regulations, including                       to mitigate any financial crime risks that might be faced by
   providing self-assessment compliance checklist to                       the Bank.
   be completed by related working units.
5. Developing and conducting the Compliance Campaign.                      The effectiveness of compliance culture is also
6. Planning the development and continuous                                 improved by appointing AML Champions functions.
   improvement of the COMPLY system for submission to                      In addition, the Bank conducts regular dissemination via
   regulators.                                                             online meetings regarding new regulations and AML CFT
7. Strengthening the Compliance Culture by utilising the                   CPF training initiatives. An AML CFT CPF risk assessment
   CSAQ, which reflects the effectiveness of the                           had been conducted to identify potential control weaknesses
   compliance programme.                                                   and their mitigation controls, accordingly.




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 125
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Compliance Function (Continued)
The Bank remains committed to making continuous                                 by sending email blasts, disseminations, and training
improvements to its systems related to the AML CFT CPF                          programmes, both for new and existing employees.
and Sanctions Programme. In 2023, the Bank enhanced                             Anti-fraud awareness and whistleblowing mechanisms
its KYC system called SmartAML to meet regulatory                               among customers was also raised through various
requirements. The Bank also adjusted its AML CFT policy                         marketing tools provided proactively.
to comply with POJK 8/2023 on the Implementation                             b. Requiring all employees to take mandatory block
of Anti-Money Laundering (AML), Counter-Terrorist                               leaves.
Financing (CFT), and Counter-Proliferation Financing of                      c. Signing of the integrity pact by new employees and
Weapons of Mass Destruction (CPF) Programmes in the                             renewal by existing employees.
Financial Services Sector. In the Sanctions Programme,                       d. Conducting Anti-Bribery & Corruption Risk Assessment,
the Bank updated its transaction screening tool to increase                     in order to identify the Bank’s vulnerabilities to the risk
the efficiency and accuracy of the screening process.                           of bribery and corruption, both from within and the
The Bank’s AML CFT Committee meetings took place as                             external environment.
part of the active monitoring role of the BoD and the BoC                    e. Updating the policies in line with the applicable
regarding the AML CFT CPF and Sanctions Programmes’                             regulations.
implementation.                                                            2. Detection
Apart from the above strategic improvement measures, the                     a. Performing proactive detection of suspicious
Bank continues to update its policies and procedures                            transactions.
in response to the latest developments in AML CFT CPF and                    b. Implementing Whistleblowing System, whereby every
Sactions Programmes, and in compliance with new                                 incident with fraud indication as well as violations
regulations.                                                                    reported were recorded by the person-in-charge (PIC)
                                                                                from AFMI, to be subsequently investigated.
ANTI-FRAUD MANAGEMENT AND                                                    c. Applying surveillance system that employs closed-
INVESTIGATION                                                                   circuit television (CCTV) cameras at the head office and
In order to prevent fraud, the Bank implements fraud risk                       branches. Monitoring was conducted on high-risk areas,
management pursuant to OJK Regulation                                           such as those performing financial transactions (at the
No. 39/POJK.03/2019 dated 19 December 2019 on                                   tellers and ATMs), vaults, etc.
Implementation of Anti-Fraud Strategy for Commercial Banks.                3. Investigation, Reporting, and Sanction
Fraud risk management is performed by Anti-Fraud                             In 2023, AFMI resolved 17 alleged case of fraud involving
Management & Investigation Sub-Division (AFMI), under                        external parties. It has been reported to OJK in line with
the Financial Crime Compliance Division and supervised by                    the applicable provisions.
the Compliance Director, who is directly responsible to the
                                                                           4. Monitoring, Evaluation, and Follow-up
President Director and may communicate and report directly
to the BoD through the Fraud Oversight Committee (FOC)                       The Bank is maintaining fraud incident data, which include
and the BoC through Audit Committee.                                         type of fraud, date of fraud, amount of loss, and other
                                                                             related data; as well as data of the fraud perpetrators, both
AFMI applies the following four-pillar strategy of anti-fraud:
                                                                             the Bank’s own employees and external parties.
1. Prevention
                                                                           Internal Fraud in 2023
  In 2023, AFMI implemented several fraud prevention
                                                                           According to the Report of Anti-Fraud Strategy
  activities to raise anti-fraud awareness, including:
                                                                           Implementation in Semester I and Semester II 2023, as
  a. Increasing employee anti-fraud awareness, anti bribery                submitted to OJK, there was no internal fraud cases
     and corruption and whistleblowing mechanisms                          substantiated in 2023.


                                                                         Number of Cases Involving

           Internal Fraud                                BoC & BoD         Permanent Employees               Contract Employees

                                               2023              2022       2023            2022              2023             2022

 Total internal fraud cases                          -               -        -                -                -                -

 Settled                                             -               -        -                -                -                -

 Under internal process                              -               -        -                -                -                -

 Pending                                             -               -        -                -                -                -

 Followed up by lawsuit                              -               -        -                -                -                -




126 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights     Reports to Stakeholders    Company Profile         Management Discussion and Analysis           Corporate Governance         Sustainability




Risk Management
The Bank’s risk management implementation primarily refers to OJK Regulation No. 18/POJK.03/2016 and OJK Circular
No. 34/SEOJK.03/2016, both of which regulate risk management implementation for commercial banks. This effort is supported
by a risk management framework (RMF), which includes risk management governance, risk management processes, and
risk management tools in line with the Bank’s vision, mission and business strategy


Risk Management Governance



                                                                 General Meeting of
                                                                   Shareholders




                           Board of
                        Commissioners
                                                                                                            Board of Directors


     Remuneration &                           Risk Oversight
   Nomination Committee                        Committee

                                                                                         HR Committee                                  IT Committee



       Audit Comittee

                                                                                       Risk Management                               Asset & Liability
                                                                                          Committee                                    Committee




                                                                                       Credit Committee                           Purchasing Committee




                                                                                      New Products and                               Credit Remedial
                                                                                     Activities Committee                              Committee




                                                                                        Fraud Oversight                              Operational Risk
                                                                                          Committee                                    Committee




                                                                                   Credit Policy Committee                        Early Alert Committee




                                                                                                                                       UCan Product
                                                                                     AML CFT Committee
                                                                                                                                        Committee




                                                                                        GRC Committee




                                                                                                            PT Bank QNB Indonesia Tbk Annual Report 2023 — 127
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Risk Management (Continued)
A strong risk governance structure ensures effectiveness and     > Submitting the trial report for implementation of
consistency of risk management framework. At QNB                   new RWA for Market Risk in accordance to OJK Circular
Indonesia, the BoC and BoD are responsible for overseeing,         No. 23/SEOJK.03/2022 on quartely basis since June 2023
monitoring and managing the risks encountered by                   using Simplified Standardised Approach (SSA) method,
the Bank, as well as developing risk management culture at         prior to official report submission in January 2024.
all levels of the organisation to ensure that all work units     > Anticipating deterioration of credit quality due to the
understand the Bank’s strategy, risk appetite, and risk            worsening of global economy and impacted from US
management framework.                                              economy policy, therefore the Bank continuously monitors
The BoC is assisted by the Risk Oversight Committee                Low Quality Loan (LQL) and restructured accounts
(ROC), which is responsible for reviewing all risk areas and       through the Early Alert Committee. This committee’s
analysing other areas related to risk, mitigation controls,        meeting was held on bi-weekly basis and monitored every
and potential losses. The BoC delegates its authority to the       movement and condition of each low quality accounts and
BoD to implement the risk management framework, and                restructured accounts;
the BoD has subsequently established various committees,         > Enacting several action plans in connection with the plan
including the Risk Management Committee.                           to terminate the JIBOR Rate, to be replaced by INDONIA
                                                                   in 2025 as planned and instructed by the Regulators (BI
In monitoring, controlling, and managing risks, the Bank           and OJK), such as setting up a dedicated task force to
implements the three lines of defense approach. In this            manage JIBOR Transition Process, which covers IT, Legal,
approach, business units act as the first line of defense;         Operation, Finance, Risk, and Business. In terms of
the Risk Management and the Compliance Directorate act             infrastructure readiness, the Accounting Rate of Return
as the second line of defense in providing independent             (ARR) calculator will be developed to calculate the
monitoring, and the Internal Audit acts as the third line of       new Risk-Free Rate (RFR) in 2025;
defense in providing independent assurance and                   > In relation to Sustainable Finance as mandated by OJK,
consultation.                                                      maintaining the Sustainability Policy in place, which will
                                                                   be continuously progressing in line with the time frame
Risk Management Tools
                                                                   given by the regulator, so that the Bank will be able to
The development of the Bank’s business plan is based on the        fully embed sustainable finance principles in daily
perspective that a good balance between risk and benefits          business activities when it is fully mandated by OJK;
must be maintained to achieve long-term growth for               > Implementing the Net Open Position (NOP) limit breach
shareholders.                                                      notification in 30 minute-basis, as part of tighter FX
As stated in Risk Appetite Statement (RAS) as well as policies     monitoring for Market, Liquidity & Enterprise Risk;
and procedures, Risk Management Tools serves as guideline        > Reviewing the Interest Rate Risk in the Banking Book
for application of risk management framework. RAS                  (IRRBB) limit and completing the Key Risk Indicator for
elaborates the level and characteristics of risks taken by the     Liquidity, with the amendment effective in January 2024;
Bank. The BoC and BoD are responsible to define RAS while        > Improvement of Risk-Based Bank Rating (RBBR) to 2 for
ensuring that detailed policies pertaining to limitations for      Semester II/2023, compared to RBBR rating of 3 in
the organisation towards the Bank’s activities have been           Semester II/2022, in accordance to supervisory review
stated in Risk Management Framework, consistent with RAS           from OJK;
and the Bank’s capability.                                       > Amending the meeting period for ROC to monthly
                                                                   since October 2023, in accordance to OJK Regulation
The Bank sets the risk limits by taking into account
                                                                   No. 17/2023 dated 14 September 2023 regarding Good
the capability of its capital to absorb risk exposure, manage
                                                                   Corporate Governance for Conventional Banks;
previous losses, improve the skills of its human resources,
                                                                 > Managing reputation and consistent messaging regarding
and comply with the prevailing regulations.
                                                                   the Bank through centralised communication briefs;
RAS monitoring results are reported periodically to the          > Ensuring quality of loans and being very selective on
management as well as to the Risk Management Committee             approving new loans with guidance taken from the OJK's
(RMC) and the Risk Oversight Committee (ROC), to ensure            direction on restructuring relaxation, Credit Policy, RAC,
compliance and be rectified if needed.                             RAS, and blacklisted industries;
Risk Management Focus in 2023                                    > Conducting additional efforts to monitor and improve
                                                                   credit risk by using stress testing exercises and improving
In 2023, the Bank’s risk management initiatives were focused
                                                                   the Early Alert Committee function so that indications of
on, among others:
                                                                   increased credit risk can be anticipated early;
• Using the Risk Acceptance Criteria (RAC) as a basis and        > Implementing the RAROC approach to ensure that the Risk
  direction for targeted industries to ensure that loans are       Adjusted Return of the facility is at an acceptable level and
  in line with the Bank's risk appetite;                           creates added value to the Bank;
> Establishing the Governance Risk & Compliance (GRC)            > Consistently implementing PSAK 71 as a tool to calculate
  forum with related parties to ensure compliance with new         allowance for impairment of financial assets;
  regulations;                                                   > Improving the monitoring of trade products wrapped in
> Adopting the standardised approach to calculate Risk-            cash management products to ensure understanding the
  Weighted Asset (RWA) of Credit and Operational Risk in           cash cycle of customers as part of monitoring credit and
  January 2023.                                                    business opportunities;




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2023 Highlights         Reports to Stakeholders   Company Profile     Management Discussion and Analysis           Corporate Governance         Sustainability




> Tightening NPL management to ensure that NPL is maintained at acceptable level through close monitoring of individual action
  plans regarding NPL resolution, NPL restructured and possibility to write off some exhausted accounts;
> Continuing to build provisions to anticipate possibility of lower credit quality and also to ensure the adequacy of provision;
> Continuing the process-based Risk and Control Self Assessment for selected key processes;
> Completing the BC Alternate Site in Kebayoran;
> Conducted Mobility Test and Crisis Management Team (CMT) simulation test;
> Conducted Limited Scale Exercise to pairing branches;
> Reviewed and updated various operational risk management policies, procedures and standards which includes business continuity
  management;
> Continuously implementing risk awareness related to business continuity and operational risk;
> Implementing Legal Library Management;
> Implementing Legal e-learning for Lending;
> Implementing Legal e-learning for Funding;
> Improving cyber security monitoring capability, by onboarding a number of critical servers to monitor the Security Operation
  Center in Head Office – Doha;
> Improving IT Security infrastructure with implementation of Anti-DDOS and Data Leakage Prevention (DLP) tool;
> Increasing employee alertness against cyber attacks via email by simulating phishing emails;
> Performing penetration testing for both ad hoc and annual assessment; and
> Implementing ANTASENA, SiMODIS, SISMONTAVAR, E-Licensing, APOLO, SIPENA, SCV, CBS (Core Banking System), and
  BI-FAST (Bank Indonesia-Fast Payment), by taking into account the provisions of BI, OJK, and LPS; and
> Continuously monitoring any publication regarding the Bank through daily media monitoring as part of managing reputational
  risk.

Risks Profile and Mitigation Measures
The Bank’s Risk Profile as at 31 December 2023

                                                               Inherent Risk                Risk Management                                    Risk Level
  No.     Risk
                                                                     Rating                    Quality Rating                                     Rating

   1      Credit Risk                                                      3                                        2                                      3

   2      Market Risk                                                      2                                        2                                      2

   3      Liquidity Risk                                                   2                                        2                                      2

   4      Operational Risk                                                 2                                        2                                      2

   5      Legal Risk                                                       2                                        2                                      2

   6      Strategic Risk                                                   3                                        2                                      3

   7      Compliance Risk                                                  2                                        2                                      2

   8      Reputational Risk                                                2                                        2                                      2

          Composite Risk                                                                                                                                   2


CREDIT RISK
The Bank manages credit risk through the establishment of a series of policies and processes that ensure prudence and
thoroughness. Every credit decision is approved by an authorised credit authority based on a loan approval matrix. Developments
which may affect the Bank’s credit portfolio are monitored by the Early Alert Committee to anticipate declining credit quality from
the adverse impacts of global economy and US economy policy. The Bank conducts stress tests on debtors with large exposures
regularly, and established guidelines in monitoring loan portfolios such as Industry Limit and RAS to avoid concentration of risk in
certain sectors. Review of credit risk management methodologies, including improving credit policies and Credit Procedures,
especially for Corporate & Institutional Banking segment, is carried out continuously.
MARKET RISK
Oversight of market risk is delegated by the BoD to the Asset and Liability Committee (ALCO). Market risk exposures primarily
relate to interest rate risk in the banking book (IRRBB) and FX risks that generally arise as a result of the Bank’s day-to-day
business activities. Our market risk function through Market, Liquidity & Enterprise Risk Management monitors all market
risks within the ALCO-approved delegated authority limits and product mandates. The market risk limits are set at conservative
levels to reflect a limited appetite for this type of risk exposure. IRRBB is measured using the parameters of Net Interest Income
(NII), Economic Value of Equity (EVE) and PV01. While in measuring FX Risk, Bank is using the Net Open Position (NOP) and
Value at Risk (VaR).




                                                                                                           PT Bank QNB Indonesia Tbk Annual Report 2023 — 129
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Risk Management (Continued)
LIQUIDITY RISK                                                 STRATEGIC AND REPUTATIONAL RISKS
To ensure a sustainable, profitable business and to retain     The Bank is continually reviewing its strategic plan,
the confidence of the financial markets, the prudent           analysing steps that have been done, and ensuring that all
management of liquidity is essential. The responsibility for   plans are running in accordance with its mission and vision.
liquidity management ultimately resides with the BoD,          Reputation risk is managed by Customer Experience and
with day-to-day management oversight being delegated to        Corporate Communication, whereby the Bank has a Contact
the ALCO. The risk management oversight process                Center for customers and performs consistent media
provides assurance that the Bank’s resources are sufficient    monitoring. External parties, i.e. customers, media, or third
in amount and diversity. This allows for planned and           parties, may submit their complaint via telephone and/or
unplanned increases in funding requirements to be              email that will be answered by the relevant party according
accommodated routinely without material adverse impact         to the subject and the prevailing provisions in the Bank.
on earnings or on the way the Bank is perceived in the         COMPLIANCE RISK
market. We maintain a comprehensive liquidity control
framework to manage the Bank’s liquidity and funding           Regulatory Compliance Division is responsible for managing
risk in a robust manner. Through this framework, we help       compliance risks, through Governance, Risk, and
to control and optimise the risk-return profile of the Bank.   Compliance (GRC) forum and dissemination of new
The Bank monitors this risk using a number of metrics to       regulations issued by regulators, as well as activation
ensure that the risk remains with appetite, including the      of email blast and report reminder through Compliance
Liquidity Coverage Ratio (LCR) and the Net Stable Funding      Reminder System (COMPLY) related to obligation to submit
Ratio (NSFR). Further, the Bank operates within AL/DPK         reports for each working units. Regulatory Compliance
limits as per OJK requirement and RIM (LDR) threshold as       Division provides reviews and recommendations for policies
per BI regulation.                                             and internal procedures, and also compliance assessment/
                                                               opinions on new products and activities which will be and/
OPERATIONAL RISK                                               or have been implemented by the Bank, including reviews
The Bank has its risk appetite and risk tolerance serving a    on product terminations and branch office closures.
reference or limit in managing operational risk. The BoD       Regulatory Compliance Division also monitors regulatory
and BoC play an active role in overseeing operational risk     fines to minimise future recurrence of reporting errors. The
management through related committees. The Bank has            Regulatory Compliance Division ensures
adequate organisational tools in line with its business        the implementation of Data Protection in accordance with
scale and complexity to support operational risk               applicable laws and regulations, among others, maintaining
management. At present, there is the Operational Risk          a framework by considering the purposes of Data Privacy
Division and IT Security & Risk Division under                 and all processing activities that occur within the Bank.
the Risk Management, and the Anti-Fraud Management &           RISKS RELATED TO SUSTAINABLE FINANCE
Investigation Division under the Compliance Directorate.       IMPLEMENTATION
They have various responsibilities related to managing
operational risk, IT risk, and fraud risk. The Bank also has   Related to sustainable finance implementation,
implemented Operational Risk Management Policies,              a comprehensive and integrated risk management
Event Loss Data Management, RCSA, Business Continuity          framework has been strengthened with aspects of internal
Management, as well as other standards and                     control. The Bank implemented the tiga lines of defense as
transactional limits. Every risk or risk event identified by   internal control framework. Risk control in Line 1 is
Line 1, Line 2 and Internal Audit will be determined as a      performed by the working units that carry out the business
follow-up improvement or mitigation to minimise and            process, while Line 2 is performed by independent working
mitigate the risk as well as to prevent the recurrence of      unit that has a risk management function, and Line 3 is
events in the future. Training to enhance employees’           performed by the working unit that carries out internal
operational risk awareness is ongoing.                         audit function. Bank also conducts a review of its portfolio
                                                               management strategy for each debtor and prospective
LEGAL RISK                                                     debtor related to the ownership of Environmental Impact
Legal risks are managed on the second line of defense by the   Analysis (AMDAL) and Company Performance Rating
Legal Division. The Bank is further assisted by external law   Assessment Program in Environmental Management
offices to provide legal recommendations on several            (PROPER) that pays attention to the sustainability of the
agreements including credit agreements and collateral          environment before the credit approval. As its long term
arrangements. Legal risk is also managed by standardising      strategy, the Bank will also focus on sustainable sectors
agreements for lending and funding, with their related         and renewable energy.
implementation monitored at all times. Dissemination and       Evaluation on Risk Management Effectiveness
legal training, including legal e-learning, and annual legal
forum are provided to non-legal employees to foster a legal    Evaluation and review of RMF is carried out internally and
risk awareness culture. Litigation cases are handled by        externally to measure its efficacy. The RMC is the highest
independent lawyer and monitored by litigation team. There     risk committee, and the Audit Committee functions as an
has been no actual loss arising from the court order           internal party responsible for reviewing policies and
faced by the Bank.                                             implementing the RMF. They also provide advice and
                                                               recommendations to the BoC as part of oversight function.




130 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights   Reports to Stakeholders   Company Profile      Management Discussion and Analysis           Corporate Governance         Sustainability




Internal Audit periodically reviews and examines                              credit risk management. The Bank applies Three Lines of
application of risk management based on the principle of                      Defense in managing credit risk. In terms of credit risk
risk-based audit. Externally, the Bank’s risk management is                   management, the first line of defense is the Credit
evaluated by external auditors and regulators. As of                          Analyst and Credit Reviewer Division whose function is
December 2023, based on the Bank’s internal assessment,                       to assess the debtor’s suitability to obtain a loan from
the Bank’s overall risk management quality was rated 2                        the Bank in accordance with the regulations and policies
(Satisfactory).                                                               set by the regulator (OJK and BI) and also the Indonesian
Based on this result, the BoD evaluated that the Bank’s                       Government, the RAC, and the Credit Policy maintained
existing risk management system is adequate to oversee and                    by the Bank.
manage all the risks from its current business undertakings.                  The second line is the Portfolio Management function,
                                                                              which has responsibilities related to managing and
Risk Disclosures                                                              reporting credit risk at the portfolio level to Management
Publication of Risk Exposure and Capital Structure for                        and regulators (OJK and BI). The Portfolio Management
RWA for Credit Risk – Standardised Approach                                   function reports directly to the Chief Risk Officer.
QNB Indonesia has complied with the requirements to                           In the third line there is the Internal Audit Division
provide disclosure on its capital and risk exposures to the                   which has implemented the Internal Audit function
risk-weighted assets (RWA) for credit risk, as stipulated by                  effectively by developing and implementing a risk-based
the OJK Circular No. 24/SEOJK.03/2021. The following                          audit methodology in preparing the annual audit plan.
report provides the disclosures.                                              The review process by the Internal Audit Division is
DISCLOSURE OF QUALITATIVE INFORMATION ON                                      based on the audit plan that has been approved by the
CREDIT RISK IN GENERAL TERMS (CRA)                                            President Director and the Audit Committee. The
                                                                              Internal Audit Division has carried out its role by
1. Explanation of the business model as reflected in the                      bringing a systematic approach in evaluating and
   Bank’s credit risk profile components                                      improving the effectiveness of risk management, control
  The Bank is currently focusing on supporting the growth                     and corporate governance processes.
  of credit distribution to the Corporate & Institutional                     In terms of supervision, there are various committees
  Banking segment, as seen from the proportion of lending                     that supervise credit risk management, namely the Risk
  to corporate and commercial debtors which reached 98.5%                     Management Committee (RMC) and the Risk Oversight
  of the total credit disbursed by the Bank. Credit                           Committee (ROC).
  distribution focuses on industrial sector targets which
  refer to the Risk Appetite Criteria (RAC) decision                       4. Explanation of the relationship between credit risk
  to ensure that the credit provided is in accordance with                    management, risk control, compliance and internal
  the Bank’s risk appetite.                                                   audit functions

2. Explanation of the criteria and approaches used to                         Day-to-day management of credit risk is carried out based
   establish credit risk management policies and                              on duties and responsibilities in accordance with the
   determine credit risk limits                                               Three Lines of Defense framework, namely with line one
                                                                              being the business/function responsible for handling risk
  The Bank has the Credit Risk Management Policy and                          either as risk owner, internal control owner or product/
  Procedures and has developed policies in accordance with                    process owner, line two is the Portfolio Management
  the relaxation program issued by the OJK to anticipate a                    function which is responsible for providing tools,
  decline in its customers’ financial health conditions.                      methodology, framework and advisory, and line three
  The Bank continuously improves its Credit Policies and                      is Internal Audit which carries out the assurance function
  Procedures, so that they are more in line with business                     independently.
  developments and applicable best practices. In addition, the             5. Explanation of the scope and main information of
  Bank continues to maintain the quality of existing credit                   reporting on credit risk exposure and credit risk
  and new credit by referring to the Credit Policy, the RAC,                  management functions to the BoD and the BoC
  Risk Appetite Statement (RAS), and blacklisted industries,
  as its guidelines.                                                          Reports on credit risk management to the BoD and senior
                                                                              management of the Bank are submitted periodically at
  The Bank also continues to monitor and improve                              the BoD and Risk Management Committee meetings.
  performance related to credit risk by using regular stress                  These reports include, among other things, RAS and Key
  testing and improving the function of the Early Alert                       Risk Indicators (KRI) for credit risks related to capital
  Committee. Testing is carried out twice a month,                            adequacy, concentration, and credit quality. Apart from
  so that indications of increasing credit risk can be                        that, the reporting also conveys the progress status of
  anticipated early.                                                          corrective follow-up related to credit risk.
3. Explanation of the structure and organization of
   credit risk management and control functions
  The Bank has adequate organisational tools in accordance
  with its business scale and business complexity to support




                                                                                                      PT Bank QNB Indonesia Tbk Annual Report 2023 — 131
Page 134
Risk Management (Continued)
Disclosure of Credit Quality to Assets - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                     Gross Carrying      Allowance
                                                            Amount              for                  CKPN
                                                                        Impairment                                CKPN
                                          Matured        Outstanding         Assets   Stage 2 and                  (IRB      Net
 No.    Jenis Masalah                      Claims             Claims        (CKPN)        Stage 3   Stage 1   Approach)   Amount
  1     Credit                             463,584          5,492,840       507,138      416,015    91,123            -   5,449,286
  2     Securities                                   -              -             -             -         -           -           -
        Administrative
  3                                                  -       792,433              -             -         -           -    792,433
        Account Transactions
  4     Total                              463,584          6,285,274       507,138      416,015    91,123                6,241,719


Disclosure of Changes in Credit and Securities Claims (CR2) - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

  1     Matured Credit and Securities in the last reporting period                                                          36,700
  2     Matured Credit and Securities since the last reporting period                                                     1,153,571
  3     Credit and Securities which reversed to Outstanding Claims                                                         564,207
  4     Write off Amount                                                                                                    36,263
  5     Other Changes                                                                                                     (126,217)
  6     Matured Credit and Securities at the end of the reporting period (1+2-3-4+5)                                       463,584


ADDITIONAL DISCLOSURES ON THE QUALITY OF CREDIT ON ASSETS (CRB)
1. Measurement of Expected Credit Losses (KKE)
  The main inputs for the measurement of expected credit losses (KKE) are the following variables:
  1) probability of default (PD);
  2) loss given default (LGD); and
  3) exposure at default (EAD).
  These parameters are generally derived from internally developed statistical models and other historical data. These parameters
  are adjusted to reflect forward-looking information as described above.
  PD estimates are estimates on a certain date, which are calculated based on a statistical ranking model regarding the magnitude
  of the probability that default will occur within a certain time period. This statistical model is primarily based on internally
  compiled data consisting of quantitative and qualitative factors and supplemented with external credit assessment data
  where available.
  LGD is the size of the possible loss should a payment default occur. The Bank estimates LGD parameters based on LGD
  benchmarked internally. The LGD model considers the estimated collateral value and recovery costs of each collateral that is
  an integral part of a financial asset.




132 — PT Bank QNB Indonesia Tbk Annual Report 2023
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  EAD represents the expected exposure in the event of default. Banks derive EAD from current exposure to counterparties and
  potential changes to current value permitted under the contract including amortisation. The EAD of a financial asset is
  the gross carrying amount. For credit commitments and financial guarantees, the EAD includes the amount drawn, as well as
  the potential amount that can be drawn in the future under the contract, estimated based on historical observations and
  forward-looking estimates.
  The calculation of reserves for impairment losses will be calculated according to each risk level (staging), namely for the next
  12 months for stage 1 (performing), as well as over the life of the bill (lifetime) for stage 2 (underperforming) and stage 3
  (non-performing).
2. Forward-looking information
  The Bank uses statistical models to incorporate macro-economic variables (MEV) on historical default rates.
  The methodology and assumptions involved, including forecasts of future economic conditions, are reviewed periodically.


Table 1.1. Disclosure of Net Claims by Region - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                                                                                                     Net Claims by Region
                                                                                                                        Eastern
 No     Portfolio Category                                                                Jakarta     Sumatra           Regions           Java           Total
 (a)                                             (b)                                       (c)            (d)              (e)          (f)            (g)
  1     Claims against Government                                                       1,763,520                  -             -              -    1,763,520
  2     Claims against Public Sector Entities                                           1,744,593                  -             -              -    1,744,593
  3     Claims against Multilateral Development Banks and International
                                                                                                  -                -             -              -              -
        Institutions
  4     Claims against Banks                                                              184,104                  -             -              -     184,104
  5     Claims in the Form of Covered Bonds                                                       -                -             -              -              -
  6     Claims against Securities Companies and Other Financial Services
                                                                                          204,760                  -             -              -     204,760
        Institutions
  7     Claims in the Form of Securities/Subordinated Loans, Equity, and
                                                                                                  -                -             -              -              -
        Other Capital Instruments
  8     Loans with House as Collateral                                                       9,953                 -             -              -        9,953
  9     Loans with Commercial Buildings as Collateral                                   1,331,580                  -             -            14     1,331,593
 10     Loans for Procurement of Lands, Cultivation of Lands, and
                                                                                                  -                -             -              -              -
        Constructions
 11     Personal Employee/Retiree Loans                                                           -                -             -              -              -
 12     Claims against Micro and Small Enterprises and Retail Portfolio                   147,854             3,409              -            515     151,778
 13     Claims against Corporations                                                     5,867,187             1,720              -       2,442       5,871,349
 14     Matured Claims                                                                    322,237                  -             -            913     323,150
 15     Other Assets                                                                      877,204                  -             -              -     877,204
        Total                                                                          12,452,993             5,129              -       3,884      12,462,006




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 133
Page 136
Risk Management (Continued)
Table 1.2. Disclosure of Net Claims by Economic Sector - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                                                                                              Claims
                                                                                       Claims                                against
                                                                                      against                             Securities
                                                                      Claims     Multilateral                            Companies
                                                                     against    Development                 Claims in     and Other
                                                          Claims      Public       Banks and     Claims   the Form of      Financial
                                                         against      Sector    International   against      Covered        Services
 No    Economic Sector                               Government      Entities    Institutions    Banks         Bonds    Institutions
 (a)                        (b)                          (c)          (d)           (e)         (f)          (g)            (h)
  1    Agriculture, Forestry and Fisheries                      -           -               -         -             -              -
  2    Mining and Extractive Industries                         -           -               -         -             -              -
  3    Processing Industry                                      -    276,041                -         -             -              -
  4    Procurement of Electricity, Gas,
                                                                -    500,000                -         -             -              -
       Steam/Hot Water and Cold Air
  5    Water Management, Waste Water
       Management, Waste Management and                         -           -               -         -             -              -
       Recycling, and Remediation Activities
  6    Construction                                             -           -               -         -             -              -
  7    Wholesale and Retail Trade; Car and
                                                                -           -               -         -             -              -
       Motorcycle Repair and Maintenance
  8    Transportation and Warehousing                           -           -               -         -             -              -
  9    Hotel and Food & Beverage                                -           -               -         -             -              -
 10    Information and Communication                            -           -               -         -             -              -
 11    Financial and Insurance Activities               1,763,520    968,552                -   184,104             -       204,760
 12    Real Estate                                              -           -               -         -             -              -
 13    Professional, Scientific and Technical
                                                                -           -               -         -             -              -
       Activities
 14    Rental and Leasing Activities Without
       Option Rights, Employment, Travel                        -           -               -         -             -              -
       Agents and Other Business Support
 15    Government Administration, Defense
                                                                -           -               -         -             -              -
       and Compulsory Social Security
 16    Education                                                -           -               -         -             -              -
 17    Health and Social Activities                             -           -               -         -             -              -
 18    Arts, Entertainment and Recreation                       -           -               -         -             -              -
 19    Other Services                                           -           -               -         -             -              -
 20    Hospitality Activities as an Employer;
       Activities That Produce Goods and
                                                                -           -               -         -             -              -
       Services by Households to Meet
       Personal Needs
 21    International Organisations and Other
       Extra International Organisations                        -           -               -         -             -              -
       Activities
 22    Hospitality                                              -           -               -         -             -              -
 23    Non-Other Business Field                                 -           -               -         -             -              -
 24    Miscellaneous                                            -           -               -         -             -              -
       Total                                           1,763,520    1,744,593               -   184,104             -       204.760




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2023 Highlights       Reports to Stakeholders          Company Profile        Management Discussion and Analysis           Corporate Governance         Sustainability




            Claims
    in the Form of                                                                                    Claims
       Securities/                                               Loans for                           against
     Subordinated                          Loans with         Procurement                         Micro and
            Loans,                        Commercial              of Lands,                            Small
       Equity, and      Loans with          Buildings        Cultivation of        Loans to      Enterprises               Claims
     Other Capital        House as                  as          Lands, and      Employees/        and Retail              against         Matured           Other
      Instruments        Collateral         Collateral       Constructions       Pensioners        Portfolio         Corporations          Claims          Assets
          (i)                (j)                 (k)                (l)              (m)              (n)                  (o)              (p)            (q)
                  -                   -           64,805                  -                  -                 -            200,237                 -              -
                  -                   -           14,326                  -                  -                 -          1,035,583                 -              -
                  -                   -          651,246                  -                  -              152           2,669,645                 -              -

                  -                   -                  -                -                  -                 -                    -               -              -


                  -                   -                  -                -                  -                 -                    -               -              -

                  -                   -                  -                -                  -                 -                 424       318,287                 -

                  -                   -           69,495                  -                  -           3,824              206,491                 -              -

                  -                   -           16,329                  -                  -              298                     -         1,679                -
                  -                   -          505,378                  -                  -                 -              46,113          2,244                -
                  -                   -                  -                -                  -                 -            730,301                 -              -
                  -                   -                  -                -                  -                 -            524,420                 -              -
                  -                   -                  -                -                  -                 -            324,914               939              -

                  -                   -                  -                -                  -              161                     -               -              -


                  -                   -            8,872                  -                  -                 -            133,223                 -              -


                  -                   -                  -                -                  -                 -                    -               -              -

                  -                   -                  -                -                  -                 -                    -               -              -
                  -                   -                  -                -                  -                 -                    -               -              -
                  -                   -                  -                -                  -                 -                    -               -              -
                  -                   -                  -                -                  -                 -                    -               -              -


                  -                   -                  -                -                  -                 -                    -               -              -



                  -                   -                  -                -                  -                 -                    -               -              -

                  -             9,953              1,144                  -                  -         147,343                      -               1              -
                  -                   -                  -                -                  -                 -                    -               -              -
                  -                   -                  -                -                  -                 -                    -               -     877,204
                  -             9,953           1,331,593                 -                  -        151,778             5,871,350        323,150        877,204




                                                                                                                   PT Bank QNB Indonesia Tbk Annual Report 2023 — 135
Page 138
Risk Management (Continued)
Table 1.3. Disclosure of Net Claims by Remaining Contract Time - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                                                                       Net Claims by Remaining Contract Time
                                                                                                                                  Non-
 No    Portofolio Category                               ≤ 1 year       > 1 - 3 years     > 3 - 5 years       > 5 years     Contractual                  Total

 (a)                               (b)                   (c)                (d)                 (e)            (f)                 (g)              (h)

  1    Claims against Government                        1,218,435                   -                   -               -          545,085         1,763,520

  2    Claims against Public Sector Entities            1,476,677           267,917                     -               -                    -     1,744,593

  3    Claims against Multilateral Development Banks
                                                                 -                  -                   -               -                    -               -
       and International Institutions
  4    Claims against Banks                                      -                  -                   -      184,104                       -      184,104

  5    Claims in the Form of Covered Bonds                       -                  -                   -               -                    -               -

  6    Claims against Securities Companies and Other
                                                          70,352            134,408                     -               -                    -               -
       Financial Services Institutions
  7    Claims in the Form of Securities/Subordinated
                                                                 -                  -                   -               -                    -               -
       Loans, Equity, and Other Capital Instruments
  8    Loans with House as Collateral                           21                417                 589           8,926                    -           9,953

  9    Loans with Commercial Buildings as Collateral     398,120            128,061             315,863        489,550                       -     1,331,593

 10    Loans for Procurement of Lands, Cultivation of
                                                                 -                  -                   -               -                    -               -
       Lands, and Constructions
 11    Personal Employee/Retiree Loans                           -                  -                   -               -                    -               -

 12    Claims against Micro and Small Enterprises and
                                                         129,982             18,465               3,331                 -                    -      151,778
       Retail Portfolio
 13    Claims against Corporations                      4,220,299           932,858             394,197        323,995                       -     5,871,349

 14    Matured Claims                                      2,858                  656           319,636                 -                    -      323,150

 15    Other Assets                                              -                  -                   -               -          877,204          877,204

       Total                                            7,516,744         1,482,781         1,033,616         1,006,575       1,422,289           12,257,246




Table 1.4 Disclosure of Claims and Reserves by Region - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                                                                                                                    Region
 No    Portofolio Category                                 Jakarta                Sumatra         East Region                     Java                Total
 (a)                               (b)                    (c)                     (d)                   (e)                 (f)                    (g)
  1    Claims                                           12,869,007                      5,129                   -                 3,884          12,878,020
  2    Impaired Claims
       a. Outstanding                                    1,373,272                          -                   -                        -        1,373,272
       b. Matured                                          446,278                          -                   -            17,306                463,584
  3    CKPN- Stage 1                                           90,436                    268                    -                  434               91,138
  4    CKPN- Stage 2                                       375,729                          -                   -                        -         375,729
  5    CKPN- Stage 3                                           23,893                       -                   -            16,393                  40,286
  6    Written-Off Claims                                      36,263                       -                   -                        -           36,263




136 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights        Reports to Stakeholders   Company Profile          Management Discussion and Analysis              Corporate Governance          Sustainability




Table 1.5. Disclosure of Claims and Reserves by Economic Sector - Bank Unconsolidated
Position at December 2023
(in million Rupiah)

                                                                                   Impaired Claims
                                                                                                            CKPN             CKPN         CKPN          Written -
 No     Economic Sector                                  Claims        Outstanding          Matured        Stage 1          Stage 2      Stage 3       Off Claims
 (a)                         (b)                         (c)               (d)               (e)               (f)            (g)          (h)             (i)
  1     Agriculture, Forestry and Fisheries             173,042              72,605                    -        1,999          8,000               -               -
  2     Mining and Extractive Industries                346,081                     -                  -       10,121               -              -               -
  3     Processing Industry                           5,187,291            114,770                     -       44,922          3,513               -               -
  4     Procurement of Electricity, Gas, Steam/
                                                        500,000                     -                  -        4,989               -              -               -
        Hot Water and Cold Air
  5     Water Management, Waste Water
        Management, Waste Management and                           -                -                  -              -             -              -               -
        Recycling, and Remediation Activities
  6     Construction                                    440,769                     -         418,452                29     100,147                -               -
  7     Wholesale and Retail Trade;
        Car and Motorcycle Repair and                   378,049            154,338             14,864           2,314         85,238      14,864                   -
        Maintenance
  8     Transportation and Warehousing                   44,882              42,090                2,373              4       25,882             694               -
  9     Hotel and Food & Beverage                       628,266            565,309             15,604             168         61,171      13,360                   -
 10     Information and Communication                    30,301                     -                  -        7,219               -              -               -
 11     Financial and Insurance Activities            3,483,143                     -                  -       14,194               -              -               -
 12     Real Estate                                     390,812             387,500                1,899              2       64,000             959               -
 13     Professional, Scientific and Technical
                                                               161                  -                  -              6             -              -               -
        Activities
 14     Rental and Leasing Activities Without
        Option Rights, Employment, Travel               166,448              33,224                    -        1,131         24,353               -               -
        Agents and Other Business Support
 15     Government Administration, Defense
                                                                   -                -                  -              -             -              -               -
        and Compulsory Social Security
 16     Education                                                  -                -                  -              -             -              -               -
 17     Health and Social Activities                               -                -                  -              -             -              -               -
 18     Arts, Entertainment and Recreation                         -                -                  -              -             -              -               -
  19    Other Services                                             -                -                  -              -             -              -               -
  20    Hospitality Activities as an Employer;
        Activities That Produce Goods and
                                                                   -                -                  -              -             -              -               -
        Services by Households to Meet
        Personal Needs
  21    International Organisations and Other
        Extra International Organisations                          -                -                  -              -             -              -               -
        Activities
  22    Hospitality                                     231,572               3,436            10,392           4,040          3,424      10,409                   -
  23    Non Other Business Field                                   -                -                  -              -             -              -               -
  24    Miscellaneous                                   877,204                     -                  -              -             -              -        36,263
        Total                                       12,878,020            1,373,272           463,584          91,138       375,729       40,286            36,263




                                                                                                               PT Bank QNB Indonesia Tbk Annual Report 2023 — 137
Page 140
Risk Management (Continued)
Table 2.1 Disclosure of Performing and Non-Performing Assets
Position at December 2023
(in million Rupiah)

                                                                                                                                      Non-Performing (KL, D, M Quality)
                                                                                                                                                           Not Impaired Claims
                                               Performing
                                       (L and DPK Quality)                                 Impaired Claims                Past Due > 90 Hari                 Past Due ≤ 90 Hari
                                        Gross                                      Gross                             Gross                                Gross
                                     Carrying                                   Carrying                          Carrying                             Carrying
                                      Amount                   CKPN              Amount                 CKPN       Amount                  CKPN         Amount               CKPN
                                        (a)                   (b)                    (c)               (d)           (e)                  (f)              (g)              (h)
  1    Securities                                 -                  -                       -                -                -                 -                 -                 -
  2    Credit
       a. Corporation                4,100,195                246,303                        -                -                -                 -                 -                 -
       b. Retail                     1,810,536                220,642                45,694            40,193                  -                 -                 -                 -
       Administrative
  3                                  3,901,100                        -                      -                -                -                 -                 -                 -
       Account Transactions




Tabel 2.2 Disclosure of Performing and Non-Performing Restructuring Assets
Position at December 2023
(Bank Unconsolidated)

                                              Performing              Non-Performing
                                              (L and DPK                  (L and DPK
                                                 Quality)                    Quality)                             Stage 1                       Stage 2                     Stage 3
                                      Gross                            Gross                             Gross                    Gross                        Gross
                                   Carrying                         Carrying                          Carrying                 Carrying                     Carrying
                                    Amount             CKPN          Amount                CKPN        Amount      CKPN         Amount           CKPN        Amount          CKPN
                                      (a)               (b)               (c)              (d)          (e)         (f)             (g)          (h)             (i)          (j)
  1    Securities                             -                -                 -                -           -            -               -           -                -            -
  2    Credit
       a. Corporation                196,428          111,120                    -                -           -            -       196,428      111,120                 -            -
       b. Retail                       2,774             231                    22               22      2,774       231                   -           -               22           22
       Administrative
  3                                           -                -                 -                -           -            -               -           -                -            -
       Account Transactions




138 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 141
2023 Highlights      Reports to Stakeholders            Company Profile         Management Discussion and Analysis           Corporate Governance         Sustainability




QUALITATIVE DISCLOSURES RELATED TO CREDIT RISK MITIGATION TECHNIQUES (CRC)
To disclose the collateral evaluation and management process, the Bank uses data registered in the Bank’s records for collateral
and carries out inventory checks by comparing the data with original documents kept by the Bank. This evaluation process is
carried out regularly and Bank records will always be updated for any changes and supporting documentation will be stored
properly by the Bank.
Based on regulatory regulations, there are three types of Credit Risk Mitigation (MRK) Techniques that are recognised and can
be used by Banks, namely Collateral Technique, Guarantee Technique, and Credit Guarantee/Insurance Technique. Currently
the Bank does not have a concentration on one particular MRK technique, because the Bank does not have exposure to all three
types of MRK techniques that are recognised in accordance with the statutory regulations.


Quantitative Disclosures related to Credit Risk Mitigation (MRK) Technique (CR3)
Position at December 2023
(in million Rupiah)

                                                                                                                                 Claims
                                         Claims Not                       Claims                      Claims              Secured with                    Claims
                                       Secured with                 Secured with                Secured with          Guarantee and/or              Secured with
                                      MRK Technique                MRK Technique                   Collateral          Credit Insurance        Credit Derivatives
                                               (a)                        (b)                      (c)                         (d)                      (e)
  1     Credit                                  5,110,038                       16,098                         -                           -                         -
  2     Securities                                          -                        -                         -                           -                         -
  3     Total                                   5,110,038                       16,098                         -                           -                         -
        Matured Credit and
  4                                                  323,150                         -                         -                           -                         -
        Securities




                                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 139
Page 142
Risk Management (Continued)
DISCLOSURE OF THE USE OF EXTERNAL CREDIT RATINGS (CRD)
To obtain information regarding the ratings from debtors directly and/or using desktop checking, the Bank searches for and uses
existing rating information related to customers in its assessment. If there are changes, customer data will be updated according
to the latest information. The portfolio categories assessed by the Bank using this ranking methodology are all the categories
whose information is accessible via desktop checking.


Disclosure of Credit Risk Exposure and Impact of Credit Risk Mitigation (MRK)
Technique (CR4)
Position at December 2023
(in million Rupiah)

                                                                                                              Net Claims Before
                                                                                                   FKK and MRK Implementations
                                                                                   Statement of
                                                                              Financial Position                           TRA
 No    Portfolio Category                                                      (a)                              (b)
  1    Claims against Government                                                       1,763,520                               -
  2    Claims against Public Sector Entities                                            744,593                        1,000,000
       Claims against Multilateral Development Banks and
  3                                                                                            -                               -
       International Institutions
  4    Claims against Banks                                                             184,104                                -
       Claims against Securities Companies and Other Financial
                                                                                               -                               -
       Services Institutions 1)
  5    Claims in the Form of Covered Bonds                                                     -                               -
  6    Claims against Corporations - General Corporate Exposures 2)                    3,115,909                       2,611,020
       Claims against Securities Companies and Other Financial
                                                                                        204,760                                -
       Services Institutions 3)
       Dedicated Financing Exposure 4)                                                         -                               -
       Claims in the Form of Securities/Subordinated Loans, Equity,
  7                                                                                            -                               -
       and Other Capital Instruments
  8    Claims against MSMEs and Retail Portfolio                                          32,217                         118,999
  9    Loans with Property as Collateral                                                       -                               -
       Loans with House as Collateral whose Payments Are Not
                                                                                           9,953                               -
       Materially Dependent on the Property's Cash Flows
       Loans with House as Collateral whose Payments Are
                                                                                               -                               -
       Materially Dependent the Property's Cash Flows
       Loans with Commercial Property as Collateral whose Payments
                                                                                        655,135                          171,080
       Are Not Materially Dependent on the Property's Cash Flows
       Loans with Commercial Property as Collateral whose Payments
                                                                                        505,378                                -
       Are Materially Dependent on the Property's Cash Flows
       Loans for Procurement of Lands, Cultivation of Lands, and
                                                                                               -                               -
       Constructions
 10    Matured Claims                                                                   323,150                                -
 11    Other Assets                                                                     877,204                                -
 12    Total                                                                           8,415,924                       3,901,100




140 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights          Reports to Stakeholders      Company Profile       Management Discussion and Analysis           Corporate Governance         Sustainability




                                                          Net Claims After                                                                        RWA and
                                             FKK and MRK Implementations                                                             Risk-Weighted Average
                       Statement of                                                                                                  Risk-Weighted Average
                  Financial Position                                      TRA                                      RWA                            (e/(c+d))
                   (c)                                     (d)                                    (e)                                        (f)
                              1,763,520                                       -                                         -                                         -
                                 744,593                                100,000                                  372,297                                     44%

                                         -                                    -                                         -                                         -

                                 184,104                                      -                                   48,237                                     26%

                                         -                                    -                                         -                                         -

                                         -                                    -                                         -                                         -
                              3,115,909                                 290,886                             2,962,311                                        87%

                                 204,760                                      -                                   40,952                                     20%

                                         -                                    -                                         -                                         -

                                         -                                    -                                         -                                         -

                                  32,217                                 12,181                                   14,507                                     33%
                                         -                                    -                                         -                                         -

                                    9,953                                     -                                    4,463                                     45%

                                         -                                    -                                         -                                         -

                                 655,135                                 17,108                                  655,135                                     97%

                                 505,378                                      -                                  353,764                                     70%

                                         -                                    -                                         -                                         -

                                 323,150                                      -                                  321,895                                   100%
                                 877,204                                      -                                  977,967                                   111%
                              8,415,924                                 420,175                             5,751,528                                             -




                                                                                                                 PT Bank QNB Indonesia Tbk Annual Report 2023 — 141
Page 144
Risk Management (Continued)
Disclosure of Exposure by Assets Classes and Risk Weights (CR5)
Position at December 2023
(in million Rupiah)


 No    Portfolio Category                                           0%                           20%               50%
  1    Claims against Government                               1,763,520                           -                   -




 No    Portfolio Category                                                          20%                             50%
  2    Claims against Public Sector Entities                                           -                         844,593




 No    Portfolio Category                                      0%                  20%                 30%         50%
       Claims against Multilateral Development
  3                                                             -                      -                 -             -
       Banks and International Institutions




 No    Portfolio Category                                  20%                     30%                 40%         50%
  4    Claims against Banks                              72,734                  111,138                 -             -
       Claims against Securities Companies and
                                                                -                      -                 -             -
       Other Financial Services Institutions 1)




 No    Portfolio Category                              10%                 15%             20%           25%       35%
  5    Claims in the Form of Covered Bonds                 -                 -               -               -         -




 No    Portfolio Category                              20%                 50%             65%           75%       80%
       Claims against Corporations - General
  6                                                        -          305,715                -               -         -
       Corporate Exposures 2)
       Claims against Securities Companies and
                                                     204,760                 -               -               -         -
       Other Financial Services Institutions 3)
       Dedicated Financing Exposure 4)                     -                 -               -               -         -




 No    Portfolio Category                                                         100%                            150%
       Claims in the Form of Securities/
  7    Subordinated Loans, Equity, and                                                 -                               -
       Other Capital Instruments




 No    Portfolio Category                                                          45%                             75%
  8    Claims against MSMEs and Retail Portfolio                                  44,086                            311




142 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights     Reports to Stakeholders       Company Profile        Management Discussion and Analysis           Corporate Governance         Sustainability




                                                                                                                               Net Claims After FKK and
                                        100%                                            150%                      Others         MRK Implementations
                                              -                                               -                           -                        1,763,520


                                                                                                                               Net Claims After FKK and
                                        100%                                            150%                      Others         MRK Implementations
                                              -                                               -                           -                           844,593


                                                                                                                               Net Claims After FKK and
                                        100%                                            150%                      Others         MRK Implementations

                                              -                                               -                           -                                    -



                                                                                                                               Net Claims After FKK and
                        75%                             100%                            150%                      Others         MRK Implementations
                             -                                -                            233                            -                           184,104

                             -                                -                               -                           -                                    -



                                                                                                                               Net Claims After FKK and
                                          50%                                           100%                      Others         MRK Implementations
                                              -                                               -                           -                                    -


                                                                                                                               Net Claims After FKK and
                  85%                   100%                      130%                  150%                      Others         MRK Implementations

                    -               3,101,080                        -                        -                           -                        3,406,795

                    -                         -                      -                        -                           -                           204,760

                    -                         -                      -                        -                           -                                    -


                                                                                                                               Net Claims After FKK and
                                        250%                                            400%                      Others         MRK Implementations

                                              -                                               -                           -                                    -




                                                                                                                               Net Claims After FKK and
                                          85%                                           100%                      Others         MRK Implementations
                                              -                                               -                           -                            44,397




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 143
Page 146
Risk Management (Continued)
Disclosure of Exposure by Assets Classes and Risk Weights (CR5) (Continued)
Position at December 2023
(in million Rupiah)


 No    Portfolio Category                             0%        20%            25%        30%         35%        40%       45%         50%       60%
  9    Loans with Property as Collateral               -               -           -          -          -         -            -          -         -
       Loans with House as Collateral whose
       Payments Are Not Materially Dependent on        -               -           -     1,497           -     2,145            -      6,311         -
       the Property's Cash Flows
          without a credit sharing approach 5)         -               -           -          -          -         -            -          -         -
          with a credit sharing approach
                                                       -               -           -          -          -         -            -          -         -
          (guaranteed) 5)
          with a credit sharing approach
                                                       -               -           -          -          -         -            -          -         -
          (guaranteed) 5)
       Loans with House as Collateral whose
       Payments Are Materially Dependent the           -               -           -          -          -         -            -          -         -
       Property's Cash Flows
       Loans with Commercial Property as Collateral
       whose Payments Are Not Materially               -               -           -          -          -         -            -          -         -
       Dependent on the Property's Cash Flows
          without a credit sharing approach 5)         -               -           -          -          -         -            -          -         -
          with a credit sharing approach
                                                       -               -           -          -          -         -            -          -         -
          (guaranteed) 5)
          with a credit sharing approach
                                                       -               -           -          -          -         -            -          -         -
          (guaranteed) 5)
       Loans with Commercial Property as Collateral
       whose Payments Are Materially Dependent         -               -           -          -          -         -            -          -         -
       on the Property's Cash Flows
       Loans for Procurement of Lands, Cultivation
                                                       -               -           -          -          -         -            -          -         -
       of Lands, and Constructions


                                                                                                                                     Net Claims After
                                                                                                                                       FKK and MRK
 No    Portfolio Category                                      50%                     100%              150%          Others       Implementations
 10    Matured Claims                                          3,166               319,328                   656            -                  323,150


                                                                                                                                     Net Claims After
                                                                                                                                       FKK and MRK
 No    Portfolio Category                             0%          20%           100%      150%        1250% 5)         Others       Implementations
 11    Other Assets                                        -               -   877,204            -            -            -                  877,204




144 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 147
2023 Highlights         Reports to Stakeholders     Company Profile        Management Discussion and Analysis           Corporate Governance         Sustainability




                                                                                                                                 Net Claims After FKK and
       65%        70%       75%         85%       90%     100%          105%    110%       150%                     Others         MRK Implementations
         -          -            -           -       -          -          -         -          -                           -                                    -

         -          -            -           -       -          -          -         -          -                           -                              9,953

         -          -            -           -       -          -          -         -          -                           -                                    -

         -          -            -           -       -          -          -         -          -                           -                                    -

         -          -            -           -       -          -          -         -          -                           -                                    -


         -          -            -           -       -          -          -         -          -                           -                                    -


         -          -            -           -       - 672,243             -         -          -                           -                           672,243

         -          -            -           -       -          -          -         -          -                           -                                    -

         -          -            -           -       -          -          -         -          -                           -                                    -

         -          -            -           -       -          -          -         -          -                           -                                    -


         - 505,378               -           -       -          -          -         -          -                           -                           505,378


         -          -            -           -       -          -          -         -          -                           -                                    -



                                                   Net Claims of               TRA Net Claims                                                   Net Claims
  No     Risk-Weights                       Financial Statements                  (prior FKK)                     FKK Average         (After FKK and MRK)
   1     < 40%                                           2,153,649                             -                                 -                   2,155,794
   2     40% - 70%                                       1,568,779                   1,000,000                          100,000                      1,709,248
   3     75%                                                    30                       118,999                          12,181                             311
   4     85%                                                        -                          -                                 -
   5     90% - 100%                                      4,692,577                   2,611,020                          290,886                      4,969,856
   6     105% - 130%                                                -                    171,080                          17,108
   7     150%                                                 889                              -                                 -                           889
   8     250%                                                       -                          -                                 -
   9     400%                                                       -                          -                                 -
  10     1250%                                                      -                          -                                 -
  11     Total Net Claims                                8,415,924                   3,901,100                          420,175                      8,836,099




                                                                                                                PT Bank QNB Indonesia Tbk Annual Report 2023 — 145
Page 148
Code of Ethics and Corporate Culture
The Bank applies code of ethics as a guidance for each           COMPLIANCE
employee in making the correct decision, and this includes       1.   Whistleblowing
the rules to escalate and discuss among interest parties to      2.   Politics
ensure that all stakeholders take the right actions and          3.   Fraud, Money Laundering & Terrorist Financing
display appropriate behaviour.                                   4.   Confusion/Dilemma
Each employee can access the Bank’s code of ethics               5.   Concluding Principles
through the Bank’s human resources information system
(HRIS) and employee intranet portal. In addition, each           Code of Ethics Dissemination and Enforcement
employee is also required to provide statement on their          To make sure that all employees reach the same level of
understanding of and commitment to doing their work in           understanding and support the implementation of the code
alignment with the code of ethics. The Bank applies a            of ethics, the code of ethics has been disseminated and can
disciplinary policy in the case of violation of code of ethics   be accessed by all employees through the Human Resources
or standard operating procedures.                                Information System (HRIS). Employees are required to fill in
                                                                 a statement that they have read and understand the
Applicability of the Code of Ethics                              contents of the code of ethics. All employees are required to
The code of ethics applies universally, which means that         apply the principles defined in the book in carrying out their
all values encompassed in it are applicable to all personnel     operational duties.
of PT Bank QNB Indonesia Tbk, including the BoC, BoD, and        Implementation of this code of ethics is observed and
all levels of the management.                                    evaluated periodically by the Bank. Revision to the code of
Code of Ethics’ Elements                                         ethics may be conducted when deemed necessary as a form
                                                                 of compliance with the prevailing regulations and
All employees of the Bank are strongly committed to              legislations in Indonesia.
upholding the code of ethics in their day-to-day activities.
The following are its elements:                                  Corporate Culture
CODE OF ETHICS                                                   The foundation and guidelines for employees’ behaviour,
1. Teamwork                                                      as manifested in QNB Values, presented in a separate
2. Relationship Based on Trust                                   section in the Company Profile chapter, serve as the basis
3. Protection of the Bank’s and Customers’ Assets and            for the Bank’s corporate culture.
    Interests
4. Supplier Relationship
5. Social Responsibility
6. Adherence to the Law
7. Adherence to All Policies and Procedures of PT Bank
    QNB Indonesia Tbk
8. Disclosure of Confidential Information
9. Our Word is Our Bond
10. Restriction on Working Elsewhere
11. Dealing with the Media
12. Avoidance of Inducement
13. Avoidance of Conflict of Interest
14. Proper Management of Staff Account
15. Personal Indebtedness
16. Personal Transactions
17. Attention to Personal Matters
18. Personal Development
19. Integrity in Interpersonal Relationships
20. Personal Conduct
21. Personal Appearance
22. Dealing with QNB Shares
23. Intellectual Property
SECURITY
1. Safety & Security
2. Continuity of Business in Times of Troubles




146 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 149
2023 Highlights   Reports to Stakeholders   Company Profile     Management Discussion and Analysis           Corporate Governance         Sustainability




Whistleblowing System
The Bank’s commitment to upholding an ethical work culture and good
corporate governance principles is made manifest the establishment of
a whistleblowing system called AyoLapor, managed by the Anti-Fraud
Management & Investigation Sub-Division.
The Bank has set up a mechanism to manage and follow-up                   truth and accuracy of the information that they have
any act that violates its internal rules and values.                      submitted and provide adequate information for the
This mechanism upholds the principle of confidentiality to                continuation of investigation. Information must include the
fully guarantee the anonymity of the whistleblower. The                   violator’s identity, chronology of events, and the violation.
Bank identifies and minimises financial and non-financial                 The whistleblower may submit their report to AyoLapor
losses by encouraging employees to report the violations they             via any of the following: e-mail to ayolapor@qnb.co.id or
find as early as possible.                                                telephone (+6221 50857925 for external, or extension 8558
Whistleblowing System Legal Reference                                     for ULJT–Untuk Lapor Jangan Takut for internal). Reports
                                                                          received may also be those escalated by other divisions,
The legal basis for the Bank’s whistleblowing system is the               alleged fraud event experienced by the whistleblower, etc.
OJK Regulation No. 39/POJK.03/2019 on Implementation
of Anti-Fraud Strategy for Commercial Banks.                              Protection for Whistleblowers
Scope of Whistleblowing System                                            The Bank strives to ensure that every whistleblower is
                                                                          protected against any form of harassment or intimidation,
This system applies universally and fairly to all individuals             and have their identity secured and their confidentiality
of the Bank on all levels of employment, including the BoD,               guaranteed.
the BoC, and committees under the BoC, as well as external
parties that may provide information related to the violation             Whistleblowing Report Handling
that they are aware of.                                                   The reporting system is handled by the Anti-Fraud
General Provisions of Whistleblowing System                               Management & Investigation Sub-Division, whose primary
                                                                          responsibility is to administer the reports, monitor the follow
Whistleblowing may be from internal or external parties.                  up to the reports, and maintain the confidentiality of the
Internal parties include employees (permanent, in                         identities of both the reporting parties and the reported
probation, contract, and outsourced), Management                          parties. Reports must be submitted to the Fraud Oversight
(including the BoD), and the BoC. External parties may                    Committee (FOC), which consists of the BoD and Senior
report the violation by providing the correct and valid proof             Management. In the case of audit matters included in the
(in the form of recordings, photos, etc.) as evidence.                    report, the report shall also be submitted to Audit Committee
Violators are parties suspected or believed to be suspected               Chairman, along with the work plan to handle the report. If
of having conducted violation or having acted against the                 the reported party is an FOC member, the report receiver shall
law, or having conducted unethical/immoral actions                        not submit the report to said FOC member who is involved.
or other actions that may jeopardise the Bank, either
financially or non-financially.                                           Performance
                                                                          In total, two valid reports were submitted via AyoLapor in
Whistleblowing Mechanism                                                  2023. One case was resolved in 2023 and the other
In the reporting process, the whistleblower must keep the                 remained under investigation by the end of the year.


Whistleblowing Reports in 2023

                            Description                                                                    Total
 Total reports received                                                                                      2
 With indication of fraud                                                                                    0
 Without indication of fraud                                                                                 2




                                                                                                     PT Bank QNB Indonesia Tbk Annual Report 2023 — 147
Page 150
Anti-Bribery & Corruption Policy
QNB Indonesia upholds a zero-tolerance principle regarding to bribery and corruption, and is also committed to the highest
standards of acting professionally, fairly, and with integrity in all transactions and business dealings and relationships
wherever it operates. The Bank also implements and enforces an effective system against bribery and corruption.
Corruption is defined as the abuse of power by someone entrusted by a company/organisation, both in the public and private sectors,
to obtain personal gain or serve personal interests.
The most commonly encountered form of corruption is bribery. Other types of corruption include, but are not limited to, practices
of misappropriation, theft, deception, extortion, conflict of interest, illegal forms of political contribution/payment to charity,
third-party placement with low interest rate coupled with a promise of reward, and receiving illegal fund from money
laundering. Corruption also encompasses the giving of gifts previously offered, promised, or provided to obtain commercial gain,
obtain employment, abuse of regulations, as well as other personal gains.
To mitigate the risk of bribery and corruption, the Bank has updated its Anti-Bribery and Corruption Policy, independently evaluated
the risk of bribery and corruption, disseminated the principle of zero-tolerance of bribery and corruption to raise awareness thereof,
and required all employees, including the BoD and the BoC, to sign the Integrity Pact.
In 2023, the Bank recorded zero cases of corruption and bribery taking place across its business




Information Disclosure and Access to
Bank’s Information
The Bank welcomes the public to access the latest information on its financial, non-financial, and other reports, under the
principles of transparency and accountability, by conducting public exposes, issuing press releases, and maintaining the corporate
website, www.qnb.co.id.
Customers may get in touch with the Bank or submit any query or complaint through the Bank’s Contact Center at (+62 21) 300 55 300.
The media are welcome to contact Corporate Communication via email at corporate.communication@qnb.co.id.
The Bank distributes press releases to media with nationwide coverage, and engage the media actively, resulting in the publication
of articles that highlight the Bank’s value to the public.
Meanwhile, public exposes serve as a means for the Bank to disclose its financial and operational performance, achievements,
challenges, and other aspects, to investors, analysts, fund managers, stock exchange members and representatives, and the mass media.

Information Disclosure Activities in 2023
               Disclosure Event                              Frequency                                 Disclosure Date
 AGMS                                                             1                                      30 May 2023
 EGMS                                                             1                                   16 February 2023
 Public Expose                                                    1                                   12 February 2023
 Customer Gathering                                              41                                 Throughout the year
 Mass Media Review                                               132                                Throughout the year
 Press Release                                                    4                                 Throughout the year




148 — PT Bank QNB Indonesia Tbk Annual Report 2023
Page 151
2023 Highlights    Reports to Stakeholders      Company Profile   Management Discussion and Analysis           Corporate Governance         Sustainability




Litigations
In 2023, the Bank was involved in 12 civil cases and 2 criminal cases. Details of their settlement status are given below:

                                                                                                                      Number of Cases
                                             Legal Dispute
                                                                                                                   Civil               Criminal
 Settled, with a legally binding verdict                                                                              2                     0
 In the process of settlement                                                                                        10                     2
 Total                                                                                                               12                     2


None of these cases had a significant impact on the Bank or its operations.
None of the Bank’s BoC or the BoD members faced any lawsuit or legal case in the court and/or arbitration agencies in any form in
Indonesia. There is no material effect of litigation on the Bank’s business continuity.




Sanctions
In 2023, the Bank did not receive any sanction in any form from the government nor from other relevant authorities.




Transparency on the Bank’s Financial
and Non-Financial Performance
In line with the transparency principle, the Bank prepares and presents various reports consisting of Annual Reports, Monthly
and Quarterly Published Reports, as well as other reports related to the holding of GMS and Public Expose.
These initiatives are carried out pursuant to the applicable provisions and regulations, including POJK No. 37/POJK.03/2019 on
Transparency and Publication of Bank Reports; POJK No. 8/POJK.04/2015 on Website of Issuer or Public Company; and IDX BoD
Decree No. Kep-00015/BEI/01/2021 on Amendment to Regulation No. I-E on Information Submission Obligation.
The Bank’s financial and non-financial performance in 2023 was adequately presented in the forms mentioned above and reported
to the relevant authorities separately, independent from the one presented in this 2023 Annual Report.




Policy on Transactions with Conflict of
Interest
The policy governing transactions with affiliate parties, related parties, and transactions containing conflict of interest, is stipulated
in the BoC Charter, BoD Charter, and Code of Ethics, as well as other internal procedures and policies of the Bank.
Should a transaction containing conflict of interest take place, the members of BoD and BoC who are involved in the transaction
shall abstain from that transaction’s approval process.
In 2023, the Bank recorded no transactions with conflict of interest.




                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 149
Page 152
Implementation of OJK’s GCG Guidelines for
Public Companies
The Bank aligns its GCG implementation with the Good Corporate Governance Guidelines for Public Companies as stipulated by
the OJK Circular No. 32/SEOJK.04/2015. The GCG Implementation Guidelineconsist of five aspects, eight principles, and
25 recommendations related to corporate governance. The Bank assesses its compliance with this Guideline on an annual basis,
and reports the implementation status of each of the recommendation stated in the Guidelines.
Details for the fulfillment of the Guidelines by the Bank in 2023 are provided in the table below.

GCG Principles and Recommendations

 No                                            Principle & Recommendation                              Implementation Status
        Relationship between public company and shareholder in ensuring the rights of
  A.
        shareholders

        1. Increasing the value of the execution of General Meeting of Shareholders (GMS)

        Recommendations:
        a. Public company has method or technical procedure of voting in public or in private, which       Implemented.
           prioritises independence and shareholders interest.

        b. All BoD and BoC members are present in the Annual GMS.                                          Implemented.

        c. Summary of GMS minutes of meeting is available on public company’s website for at least
                                                                                                           Implemented.
           one year.

        2. Increasing the quality of communications between the public company and the
           shareholders or investors.

        Recommendations:
                                                                                                           Implemented.
        a. Public company owns a policy for communication with shareholders or investors.

        b. Public company discloses its policy for communication with shareholders or investors on
                                                                                                           Implemented.
           the website.

  B.    Function and Role of the Board of Commissioners (BoC)

        3. Strengthening the membership and composition of BoC.

        Recommendations:
        a. Determination of the number of Commissioners considers the condition of the Public              Implemented.
           company.

        b. The determination on the composition of the BOC considers to the diversity of required
                                                                                                           Implemented.
           skills, knowledge, and experience.

        4. Increasing the quality of performing duties and responsibilities of BoC.

        Recommendations:
                                                                                                           Implemented.
        a. The BoC has self assessment policy to evaluate the performance of the BoC.

        b. The self assessment policy that evaluates the performance of the BoC is disclosed in
                                                                                                           Implemented.
           the Annual Report of the public company.

        c. BoC has policy concerning the resignation of a commissioner if involved in a financial
                                                                                                           Implemented.
           crime.

        d. The BoC or committee that performs the nomination and remuneration function arranges
                                                                                                           Implemented.
           the succession policy in the process of nominating a member of the BoD.




150 — PT Bank QNB Indonesia Tbk Annual Report 2023
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2023 Highlights      Reports to Stakeholders      Company Profile   Management Discussion and Analysis           Corporate Governance         Sustainability




 No                                            Principle & Recommendation                                                 Implementation Status
  C.     Function and Role of the Board of Directors (BoD)
         5. Strengthening the membership and the composition of the BoD.
         Recommendations:
         a. Determination of number of BoD considers the current condition of the Public Company and                            Implemented.
            effectiveness of decision-making.
         b. The determination of BoD composition considers the diversity of expertise, knowledge, and
                                                                                                                                Implemented.
            required experience.
         c. Member of BoD who oversees accounting or finance have the expertise and/or knowledge in
                                                                                                                                Implemented.
            accounting.
         6. Increasing the quality of the duties and responsibilities of BoD.
         Recommendations:
                                                                                                                                Implemented.
         a. BoD has a self assessment policy on the evaluation ofBoD’s performance.
         b. Self assessment policy on the evaluation of the BoD’s performance is disclosed in
                                                                                                                                Implemented.
            Public Company’s annual report.
         c. BoD owns policy concerning resignation of BoD who is involved in financial crime.                                   Implemented.
  D.     Stakeholders Participation
         7. Increasing the Company’s governance aspect through stakeholders participation.
         Recommendations:
                                                                                                                                Implemented.
         a. Public Company has a policy to prevent insider trading.
         b. Public Company has an anti-corruption and anti-fraud policy.                                                        Implemented.
         c. Public company has a policy that governs the selection and capability enhancement of its
                                                                                                                                Implemented.
            supplier and vendor.
         d. Public company has a policy on the fulfilment of creditor’s rights.                                                 Implemented.
         e. Public company has a whistleblowing system policy.                                                                  Implemented.
         f. Public company has a policy on provision of long-term incentives for the BoD and employees.                         Implemented.
  E.     Information Disclosure
         8. Enhancing information disclosure implementation.
         Recommendations:
         a. Public Company makes greater use of information technology in addition to website as a                              Implemented.
            means for information disclosure.
         b. Annual report of Public company discloses the ultimate beneficial owner of at least 5% of
            share ownership of the Public Company, in addition to the disclosure of the ultimate beneficial                     Implemented.
            owner of the Public Company’s share through the majority and controlling shareholder.




                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 151
Page 154
Sustainability
Page 155
With a mindset attuned to efficiency without sacrificing productivity,
QNB Indonesia is kindling a hope to be a bright beacon of sustainable
finance in the Indonesian banking landscape.
Page 156
QNB Sustainability Strategy
                                                                      Sustainability Focus on Indonesia
                                                                      Through its sustainability programmes, the Bank strives to
                                                                      serve the needs and meet the expectations of its stakeholder
                                                                      groups, while also generating shared value optimally for its
                                                                      business, its shareholders, and the community at large,
                                                                      principally through financial inclusion.
                                                                      To achieve this aim, the Bank maintains its Sustainability
                                                                      Vision and Mission, as follows:
                                                                      Sustainability Vision:


                                                                       “ QNB Indonesia will be
                                                                         a leading financial institution
                                                                         in Indonesia that is socially
                                                                         and environmentally
                                                                         responsible.”

                                                                      Sustainability Mission:


  Guided by our Sustainability Vision and Mission, here at the Bank    “ Excelling in our three
  we are paving the way forward powered by an innovative mindset
           and an affinity for transformational thinking.                sustainability pillars –
                                                                         Sustainable finance,
Global Approach to Sustainability
                                                                         Sustainable operations, and
At QNB, we define sustainability as the delivery of                      Beyond banking.”
long-term value in financial, environmental, social and
ethical terms, for the benefit of our customers, shareholders,
employees and communities. All sustainability initiatives
                                                                      Sustainable finance is the integration of ESG criteria into
of the Group are coordinated by the Group Sustainability
                                                                      the Bank’s financing activities to deliver profit with
Team, which, through the Group Strategy Committee
                                                                      purpose. The Bank aims to help customers manage their
reports to the Board of Directors and H.E. Sheikh Hamad Bin
                                                                      environmental and social risks, lend to businesses that
Jabor Bin Jassim Al-Thani as Board owner of Sustainability,
                                                                      contribute towards the UNSDGs, improve access to finance
via the Group Board Nomination, Remuneration,
                                                                      for SMEs and underserved groups, and provide a responsible
Governance and Policies Committee (GBNRGPC).
                                                                      customer service.
Our established QNB Group sustainability framework
                                                                      Sustainable operations is the integration of ESG criteria
encompasses performance across environmental, social,
                                                                      into the Bank’s business operations and across the Bank’s
and governance (ESG) aspects. The framework is also
                                                                      supply chain, to ensure ethical and efficient operations.
aligned with the objectives of the United Nations
                                                                      The Bank is committed to strengthening corporate
Sustainable Development Goals (UNSDGs), the United
                                                                      governance and risk management practices, promoting
Nations Global Compact (UNGC), Qatar National Vision
                                                                      equality throughout its workforce, and reducing carbon
2030, and the Qatar Stock Exchange’s Guidance on ESG
                                                                      emissions generated by its operations.
Reporting. To promote transparency in the banking sector,
the Group reports its sustainability performance annually             Beyond banking refers to the Bank’s Corporate Social
in accordance with the GRI Standards 2021 and                         Responsibility (CSR) activities in the communities
the Financial Services Sector Disclosures.                            where the Bank operates. The Bank’s ambition is to
                                                                      make a positive contribution to the wider society, with
The Group’s sustainability framework consists of three pillars:
                                                                      an emphasis on education and financial literacy.
Sustainable finance, Sustainable operations and Beyond
banking. All three pillars support QNB’s goal of sustainable          To achieve its sustainability vision and mission, in line
financial performance, by reducing risks, identifying new             with its sustainable finance action plan for 2023, the Bank
business opportunities, and strengthening the QNB brand.              strengthened its sustainability activities, while
These three pillars are detailed in the next section, as they         continuing to raise awareness among its stakeholders
apply to the Group’s operations in Indonesia.                         about its concept and vision of sustainability.




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2023 Highlights         Reports to Stakeholders        Company Profile   Management Discussion and Analysis           Corporate Governance         Sustainability




The Bank’s long-term sustainable finance action plan for the period 2023–2027 is summarised below:

    Year                                          Priority                                                     Success Indicator
                                                                                     Formal implementation of a sustainable governance
                                                                                     framework by publishing QNB Indonesia Sustainability
                  Refining and improving sustainability governance                   Policy in end of December 2023.
                  framework for all sustainability activities; performing
    2023                                                                             Availability of capable and adequate resources to
                  ESG benchmarking and data collation in preparation for
                                                                                     support sustainability activities.
                  2024 report on sustainability activities.
                                                                                     Completion of sustainability-related data gathering for
                                                                                     2023 to be reported in the annual report.

                  Performing bank-wide review of all activities to identify
                                                                                     Detailed reports of prioritised sustainability-related
    2024          areas of improvement in accordance with sustainability
                                                                                     activities.
                  principles.

                  Establishing and cascading divisional level sustainability-        Adoption of KPIs related to sustainability across all
    2025
                  related Key Performance Indicators (KPIs).                         divisions of the Bank.

    2026          Monitoring and refining sustainability-related KPIs.               Improvement in the sustainability assessment score.

                  Achieving consistent improvements within the previous              Proven increase in score for sustainable finance,
    2027
                  5-year period in all sustainability metrics.                       sustainable operations, and beyond banking activities.


The Bank’s sustainability strategy is elaborated in its yearly                     5. Implementing gender diversity for employees, enhance
Sustainable Finance Action Plan (RAKB). The most recent                               sustainable operations with environmental impact such
RAKB was prepared in alignment with the following                                     as reduce water, paper and electricity usage.
guidelines and regulations:                                                        Parties Responsible for Implementing Sustainable
1. Technical Guidelines for Banks on the Implementation of                         Finance
   POJK No. 51/POJK/03/2017.                                                       Sustainability plans and activities on the whole is managed
2. QNB Indonesia Corporate & Institutional Banking Credit                          by Strategy Execution Division supported by Human
   Policy, which states that the QNB Group has implemented                         Resources, General Services, Compliance, Corporate
   a Sustainable Financial commitment throughout the                               Communication Divisions, as well as business units.
   lending process. Under this policy, the Bank identifies and                     The BOD is responsible for monitoring the implementation
   examines prospective debtors in advance when providing                          of the Sustainable Finance Action Plan. The details of
   credit by requesting the completion of debtors’ and/or                          duties and responsibilities in line with the implementation
   prospective debtors’ AMDAL and PROPER documents                                 of Sustainable Finance in the Bank are presented in
   required in their respective lines of business.                                 the Sustainable Finance Action Plan documentation
3. Consideration was also given to QNB Group’s                                     published annually.
   Sustainability Policy, QNB Group’s Environmental and
   Social Risk Management framework and QNB Group’s                                Challenges in the Implementation of Sustainable
   Sustainable Finance and Product Framework.                                      Finance

The Bank will integrate sustainability into its financing and                      The challenges which may cause the delays in the
operations through the following priority activities:                              accomplishment of the Bank’s sustainable finance action
                                                                                   plan includes the following:
1. Organising training for each employee related to
   the concept of sustainability, so that each employee can                        a. External Challenges
   understand and carry out sustainability activities                                 1. Natural disasters and/or the pandemic causing severe
   in accordance with its principles.                                                    economic hardship and disruption in the business
2. Refining and improving the sustainable governance                                     development.
   structure.                                                                         2. Emergence of fintech companies, which may increase
3. Developing products and/or services applicable and                                    the competitiveness and complexity of the Indonesian
   aligned with the sustainability principles and Group                                  banking sector.
   Sustainable Finance and Product Framework, with                                    3. Limited information on guidelines and criteria for
   respect to the Bank’s focus that covers both Corporate &                              Sustainable Financing Projects in Indonesia.
   Institutional Banking and Retail Banking segments,                              b. Internal Challenges
   to identify opportunities.                                                         The Bank may face internal challenges in implementing
4. Applying Environmental Social Risk Management (ESRM)                               Sustainable Finance due to limited resources and limited
   for screening and categorising environmental and social                            availability of integrated monitoring and reporting
   (E&S) risk.                                                                        system.




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 155
Page 158
QNB Sustainability Strategy (Continued)
The Bank is taking measures to mitigate these challenges,                 implementation of the Sustainable Finance. The unit is
including:                                                                to report to the BoD through the information provided in
1. Optimising resource use to improve business                            the Sustainability Report, which is prepared annually by
   performance and maintain profitability.                                the Bank as part of its Annual Report.
2. Prioritising issuance of Sustainable Finance products to               In the event that any part of the Sustainable Finance plan
   ensure sustainability and competitiveness in the                       has not yet been implemented in accordance with the
   market.                                                                planned programmes and timelines, the Bank will follow
3. Training to ensure readiness and awareness of all QNB                  up and determine necessary improvements or changes
   Indonesia’s employees on the importance of the                         required, by: reviewing the performance indicators used
   Sustainable Finance concept.                                           for the following years based on the realisation of the
Monitoring of Sustainable Finance Activities                              Sustainable Finance programmes that have been
                                                                          implemented; and assess the continuity of the Sustainable
The Bank has appointed the Strategy Execution Division to                 Finance programmes in subsequent years as measured
be in charge for the overall monitoring of the                            by predetermined performance indicators.




Targets & Achievements
Achievements in 2023
Sustainable Finance

      Description of Activity                        Participants         Type of Activity                   Realisation
 Indonesia Green Taxonomy task                   Strategy Execution,
                                                                                                     QNBI Sustainability Policy
 force was established for                       Compliance, Credit,
                                                                             Task Force.               has been published in
 the purpose of composing QNB                      Business units,
                                                                                                         December 2023.
 Indonesia Sustainability Policy.                    Operations.

                                                                                                   Sustainable Finance Awareness
                                                                                                   2023 training was conducted on
 Training and/or workshop about                                                                      18 October 2023 in a full-day
 Sustainable Finance and                                                                                 online training with
 procedures for obtaining                        Credit Analyst, RM,                                 participants of 34 employees
                                                                           Online training.
 AMDAL license and PROPER as                        Compliance.                                        consisted of Compliance
 a requirement for financing/                                                                      directorate, Audit, Relationship
 credit application by the debtor.                                                                    Manager from Corporate &
                                                                                                   Institutional Banking (CIB) and
                                                                                                            Retail Banking.

                                               QNB Indonesia, Indosat
                                                Ooredoo Hutchison,                                  Over 70% of users of the UCan
 Digital loan for financial
                                                   PT YuInsight               Lending.             cash loan are those from the low
 inclusion.
                                                   Technologies                                            income bracket.
                                                  International.

                                                                                                     QNB Indonesia continues to
 Supporting SMEs.                                       Retail.               Lending.             support its existing SME clients
                                                                                                              with loans.

 Adoption of standards that are                                                                    The ESRM checklist has been in
 consistent with QNB’s ESRM                   Corporate & Institutional                                use since May 2021 with
                                                                           Documentation.
 (Environmental and Social Risk                      Banking.                                       screening/monitoring criteria,
 Management) framework.                                                                            restricted sectors/exclusion list.




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2023 Highlights    Reports to Stakeholders    Company Profile     Management Discussion and Analysis           Corporate Governance         Sustainability




Sustainable Operations

      Description of Activity                  Participants                  Type of Activity                              Realisation
                                                                                                                Electricity usage in 2023 was
 Limiting the operating hours of                                          Manually turning of
                                                                                                              976,356 kWh, 7.5% lower than in
 air conditioners (AC) and                    All employees.           air-conditioners and lights
                                                                                                               2022, with all employees fully
 elevators.                                                             after operational hours.
                                                                                                                    working from office.

 Limiting paper consumption,                                            Usage of e-paypro system
                                                                                                               Paper usage in 2023 was 2,827
 using both sides of the paper                All employees.             for ordering stationery,
                                                                                                                kg, 3% higher than in 2022.
 (except for official documents).                                            including paper.

                                                                                                                Water usage in 2023 reached
 Encouraging efficient use of                                               Usage of automatic
                                              All employees.                                                      5,349 litres, 15% lower
 water.                                                                          faucets.
                                                                                                                       than in 2022.


Beyond Banking

      Description of Activity                  Participants                  Type of Activity                              Realisation
                                                                                                                  Disseminated email about
 Periodic communication related                                                                                 responsible behaviours in the
 to environmentally friendly                                                                                       working area and in the
 behaviours and wellbeing/                    All employees.                  Dissemination.                           environment.
 health protocol as part of Bank’s
 value of responsible citizenship.                                                                                Held internal activities
                                                                                                              promoting health-related topics.

                                                                                                              Conducted one financial literacy
 Expand QNB Indonesia Goes to                                                                                    event in Jakarta, with 120
 School, the Bank’s annual                   120 beneficiaries,                                                vocational school students as
                                                                               Offline event.                        the beneficiaries.
 financial literacy programme, to             24 employees.
 reach new students and schools.                                                                                  Involved 24 employees as
                                                                                                                 volunteers in CSR activities.


Sustainability Targets in 2024                                              Sustainable Operations:
The Bank’s sustainability targets for 2024 are divided into                 1. Reducing electricity usage from AC units and lighting.
the same categories as detailed above. Goals in each                        2. Limiting and managing paper used for printing.
category are defined below:                                                 3. Using water efficiently in the offices.
Sustainable Finance:                                                        Beyond Banking:
1. Increasing awareness of the Sustainable Finance concept                  1. Periodic communication on hygienic, environmentally-
   and continuing the programmes related to Sustainable                        friendly and socially-beneficial behaviours as part of
   Finance involving various stakeholders.                                     the business value of responsible citizenship. In 2024,
2. Conducting market studies related to the demand for                         the Bank plans to create communication collaterals and
   Sustainable Finance products and/or services, as well as                    disseminate educational messaging through various
   examining the alignment of the Bank’s existing products                     channels.
   and/or services with the criteria for sustainable business               2. Expansion of QNB Indonesia Goes to School annual
   activities.                                                                 financial literacy programme. In 2024, the Bank aims to
3. Reviewing the Bank’s management of social,                                  conduct at least one such event per semester,
   environmental, and governance risks across all its business                 engaging at least 50 students.
   activities.
4. Expanding engagement with MSMEs to ensure their
   financial inclusion. As much as 11.5% of the bankwide
   loan book should be allocated for MSMEs by end of year.




                                                                                                       PT Bank QNB Indonesia Tbk Annual Report 2023 — 157
Page 160
Sustainable Finance
As a financial services provider, QNB Indonesia is              in a number of internal procedures, Laws of the Republic of
fully committed to, and supportive of, the government of        Indonesia, OJK Regulations and Circulars, as well as
Indonesia’s sustainable finance goals. The Bank continues       Bank Indonesia Regulations and Circulars.
to engage in various projects aimed at boosting financial
inclusion and broadening access to financial services for       Consumer Protection
the public.                                                     The Bank upholds its customers’ trust in its operational
Several sustainable finance initiatives are reflected in        system and provides them with the best level of service. The
the Bank’s competitive range of products and services,          Bank applies the principle of prudence, prioritising customer
all of which yield a significant and continuous advantage       protection and service above all else. This helps to reinforce
to its retail, MSME, and corporate customers. The Bank          customers’ trust in the banking system, and the Bank is
annually publishes its Sustainable Finance Action Plan to       committed to maintaining this trust and confidentiality, as
align its initiatives with the sustainability goals of QNB      set out in applicable laws and regulations.
Group’s and Indonesia’s.                                        Banking confidentiality in the Bank encompasses
The Bank’s financial products and services have all been        all information related to customers’ savings and deposits,
approved by OJK and Bank Indonesia. QNB Indonesia also          and the Bank works to ensure that this information is not
applied and aligned with ESRM and QNB Group                     misused by unauthorised parties. In order to build
Sustainable Finance and Product Framework–a Group level         and maintain customer trust, the Bank must strive to ensure
document–for the development, aside from taking into            that customer information is kept safe and secure
account any future guidance on ESG definitions from OJK.        at all times, using the latest security technologies
Customers can enjoy a secure and dependable banking             and practices.
experience with QNB Indonesia at all times.                     The obligation of upholding customer confidentiality does
                                                                not apply in certain cases, such as for tax purposes and
Banking Product Developments and Innovations                    pursuing the interest of justice in criminal and civil cases,
In 2023, the Bank mantained the following products and          as well as upon the request of the customer or their heir, as
services in line with the Sustainable Finance principles        stipulated in the applicable laws and regulations.
and Group Sustainable Finance framework. These products         The Bank’s products have been ensured to be
and services include:                                           secure for customers to use, given the solid framework of
1. UCan, a loan product for the mass market segment             risk management and compliance existing in the Bank’s
   running entirely on a digital platform, run in partnership   operations.
   with Indosat Ooredoo Hutchison.
2. Various mutual funds, in partnership with prominent          Sustainable Practices in Loan Disbursement
   investment managers in Indonesia.                            Prior to disbursing lending, the Bank requires prospective
3. Indonesian Government Retail Bonds.                          borrowers to submit various documents that testify to
4. Bancassurance products.                                      the debtors’ compliance with the social and environmental
5. Mobile banking and internet banking services,                regulations that are relevant to the industry in which they
   which help reduce the carbon footprint of both the Bank      engage. Such documents may include an Environmental
   and its customers.                                           Impact Analysis (EIA or AMDAL in Indonesian),
6. Debit card.                                                  PROPER achievement, ESRM Due Diligence,
Throughout the reporting period, no products or services of     or other relevant documentation.
the Bank were withdrawn from circulation owing to               The Bank, by principle, does not provide any lending to parties
the negative impacts caused by such offerings.                  engaged in sectors or industries that are not yet regulated,
Any withdrawal of any financial products or services from       or expressly prohibited, by the laws prevailing in the Republic
the market in 2023 was due to considerations of their           of Indonesia. Furthermore, the Bank does not provide any
relevance to the needs in the market.                           lending to parties that are found to have breached any
                                                                regulations, as the Bank seeks to protect the environment
Raising Sustainable Finance Awareness                           and social welfare of the nation.
On 18 October 2023, the Bank conducted a full day
online training specifically aimed at raising the awareness     Contact Points
of the participants on sustainable finance. This event          The Bank welcomes suggestions, complaints and
was participated by 34 employees of the Bank from               criticisms to improve service quality. The Bank provides
several directorates.                                           several channels of communication for customers to direct
                                                                their complaints, as follows:
Product and Customer Responsibility Polic
                                                                • 24-hour Contact Centre service at (+62 21) 300 55 300;
The Bank complies with the rules and regulations on             • E-mail to contact.center@qnb.co.id; and
customer protection and complaint handling, as stipulated       • Direct contact with branch frontliners.




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Customer Complaint Handling                                                       supporting documents. Should a complaint not be settled
                                                                                  within 10 working days, then the settlement period may be
To follow up on customer complaints, all complaints
                                                                                  extended up to a maximum of 10 more working days.
received by the Bank are forwarded and coordinated with
related work units and branches to find solutions, in                             Should the customer be unsatisfied with the result of their
adherence with existing Service Level Agreements (SLA).                           complaint settlement as provided by QNB Indonesia, they
                                                                                  may submit their complaint to Bank Indonesia or the OJK.
Each customer has the right to convey their complaints
verbally or in writing. The complaints may be submitted                           In 2023, QNB Indonesia received a total of 544 complaints
by the customer and/or their representative along with                            from customers. All the complaints had been settled by the
supporting documents needed for complaint settlement.                             end of year. There were no grievances or complaints from
                                                                                  customers that had a significant impact on the Bank’s
Should a customer submit a verbal complaint,
                                                                                  reputation or operations.
their complaint will be handled and resolved within
5 working days, while written complaints are handled and                          The Bank ensures its customer complaint management
settled within 10 working days upon their receipt.                                quality by closely monitoring the resolution of each
Complaints should be accompanied with comprehensive                               complaint and measure the completion time.


Customer Complaints Settlement, 2023
                                                          Completed                      On Process                       Not Completed
                                                                                                                                                Number of
 No.     Issue Related to                        Total   Percentage            Total     Percentage                 Total     Percentage       Complaints
   1     ATM & Debit Card                          33            100%               0              0%                    0              0%                 33
   2     Electronic Banking                        88            100%               0              0%                    0              0%                 88
   3     Credit Card                                0            100%               0              0%                    0              0%                   0
   4     Personal Loan                             15            100%               0              0%                    0              0%                 15
   5     Other Products                            12            100%               0              0%                    0              0%                 12
   6     Trust                                      3            100%               0              0%                    0              0%                   3
   7     UCan                                     393            100%               0              0%                    0              0%                393
         Grand Total                              544           100%                0              0%                    0              0%                544



Customer Service Improvement Programme
The Bank is committed to providing a high level of customer service, and to do so, it is improving the quality of its frontliners, both
in the branches and its Contact Centre. The Bank trains its staff on product knowledge and banking solutions.
The Bank may scale up its service network in the future by establishing new branches, relocating branches to more
strategic locations, and expanding its presence in the digital realm. This will make it easier for customers to access the Bank’s
products and services.
To measure customer satisfaction and identify areas for improvement, the Bank plans to conduct a customer satisfaction
survey in the coming years. The survey will provide valuable feedback in terms of customer service, allowing the Bank to make
the necessary changes and improvements to meet the customers’ needs and expectations. This will enable the Bank to refine its
customer service standards, as well as develop and implement new and innovative customer service programmes.




                                                                                                             PT Bank QNB Indonesia Tbk Annual Report 2023 — 159
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Sustainable Operations
Equality
The Bank offers equal employment opportunity to every qualified candidate, regardless of their gender or background.
Recruitment and career advancement are based on each individual’s potential and skill, without discrimination against
their gender, age, race, ethnicity, religion, or belief. The Bank strictly prohibits any form of child labour and forced labour in
its activities.
The Bank fosters a merit-based culture, guaranteeing all employees equal access to training and self-improvement programmes.
These are designed to enhance the necessary competencies for professional growth.
Gender equality in the Bank as at 31 December 2023 is encapsulated in the following table:


                                                                                                                            Gender
 Position
                                                                                                   Female                    Male
 Commissioners                                                                                           1                       3
 Directors                                                                                               0                       4
 Division Heads                                                                                         11                      11
 Others                                                                                                190                     185
 Total                                                                                                 202                     203


Industrial Relations
In developing policies and regulations related to employment and in regard to industrial relations management, the Bank is guided
by Law No. 6/2023 regarding Employment. The Bank is also subject to the Manpower Act, and this is reflected in the freedom of
association as mandated by Law No. 21/2000 on Trade Unions/Labour Unions.
The management of the Bank maintains open communication with union officials and members in order to preserve
harmonious industrial relations, mutual respect, and mutual benefits. All efforts must be taken to ensure that any conflict that
arises is resolved within the division or the company, according to the Law No. 6/2023 and Law No. 2/2004 on Industrial Relations
Conflict Resolution. In 2023, the Bank did not record any significant grievances from employees in relation to the Bank’s
employment practices.
The Bank maintains a Collective Labour Agreement (PKB) resulting from negotiations between the Bank and the labour
union, regulating the terms at work, rights and obligations of both parties under the provisions of law. The current PKB is valid
until November 2025 and has been registered with the Ministry of Manpower of the Republic of Indonesia
No. Kep.4/HI.00.01/00.0000.231024002/B/XII/2023 dated 4 December 2023.

Remuneration Policy
The Bank’s remuneration policy is applicable to all employees without exception, in line with the prevailing regulations.
The lowest monthly salary paid by the Bank to its employees in 2023 was recorded to be Rp4,901,798, in DKI Jakarta. This figure
was equal to the province’s statutory minimum wage in 2023.

Occupational Health and Safety
To ensure employee health and safety, the Bank provides health insurance to employees and their dependants. Employees take
part in an annual medical check-up.
All employees are expected to implement the basic guidance and work procedures to minimise the risk of workplace accidents and
protect their health. The Bank regularly conducts Business Continuity Management (BCM) drills to ensure that all employees
are fully prepared for any emergency event or disaster.
In 2023, no workplace accidents took place in the Bank’s premises.

QNB Kita
To strengthen team cohesion and employee engagement with the Bank, various events were held as part of the QNB Kita programme.




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                         The Bank's employees participated in QNB Juang event, held offline for the first time since the pandemic.




In 2023, the QNB Kita programme encompassed the following events:
> Ramadan Gathering & Halal Bihalal;
> QNB Juang in August to promote creativity and camaraderie among employees, conducted offline for the first time after having
  taken place online in the previous three years due to the pandemic;
> Sports activities and tournaments: poundfit, badminton, futsal, and table tennis;
> Religious activities: Moslem gathering and Christian community; and
> Employee year-end gathering in December 2023.

Training and Competence Development
The Bank conducted these training and competence development programmes in 2023:
> Leadership (Core Programme);
> Mandatory certifications and internal accreditation;
> Soft skills, such as, communication skills, selling techniques, coaching skills, presentation skills, service quality;
> Technical skills, such as courses on process automation, sustainable financing, and health & safety at work;
> Webinars;
> Talent Development Programme; and
> Management Development Programme.


 Training Indicators                                                                                                                   2023 Achievements
 Total Programmes                                                                                                                                          305
 Total Participants                                                                                                                                     7,057
 Total Learning Duration in Man-days                                                                                                                    3,469
 Average Man-days/Employees                                                                                                                                   9
 Man-days >= 3 Days                                                                                                                                        388
 Training Distribution                                                                                                                                  100%




                                                                                                              PT Bank QNB Indonesia Tbk Annual Report 2023 — 161
Page 164
Sustainable Operations (Continued)
                                                                                                                 Total
 Directorate                                              Untrained                   Trained               Employees          Fulfilment
 CEO                                                                0                       19                       19             100%
 Compliance                                                         0                       20                       20             100%
 Corporate & Institutional Banking                                  0                       22                       22             100%
 Credit                                                             0                       49                       49             100%
 Finance                                                            0                       18                       18             100%
 Human Resources                                                    0                       14                       14             100%
 Operations & Technology                                            0                       88                       88             100%
 Retail Banking                                                     0                      133                      133             100%
 Risk                                                               0                       21                       21             100%
 Management Development Program                                     0                        9                        9             100%
 Treasury & Financial Institution                                   0                        8                        8             100%
 Total                                                              0                      401                      401             100%



                                                                                                                                     2023
                                                                                                            Number of          Number of
 Programme                                                                                                Programmes          Participants
 Mandatory/Core Programmes                                                                                           23              2,635
 Accreditations & Certifications                                                                                     43               151
 Technical/Functional Training                                                                                      201              3,398
 Leadership & Professional Development                                                                                2                45
 Talent Development Programmes                                                                                       11                65
 Learning Forums & Engagement Events                                                                                 23               763
 Learning Center & Infrastructure                                                                                     2                 0




                          We are empowering our employees through a multitude of learning channels and enriched programmes,
                                                  to bring them at the fore of the banking industry.



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Beyond Banking




                  Through the blood donation programme, employees of QNB Indonesia participated in contributing to the public.




QNB Indonesia strives to provide superior banking                             Based on survey results, the QNB Indonesia Goes to School
products and services to support the achievement of                           activities succeeded in significantly raising students’
the sustainable development goals in Indonesia. In addition,                  financial literacy.
it is also supporting the Indonesian government’s financial                   Apart from the above programme, in September 2023 the
inclusion, literacy, and education programmes through a                       Bank’s branch in Semarang received a visit consisting of
number of initiatives described below.                                        12 junior high school (SMP) students along with 2 parents
QNB Indonesia Goes to School                                                  and 2 teachers. On this occasion, students obtained the
                                                                              opportunity to learn about the functions and how banks
Since 2018, QNB Indonesia has been supporting financial                       operate, as well as the importance of financial planning for
literacy initiatives in Indonesia, carried out through various                a better future.
educational activities taking place in numerous cities,
including Jakarta, Bandung, Semarang, Surabaya,                               Blood Donation
Medan, and Batam.                                                             Beyond supporting the enhancement of financial literacy,
In 2023, QNB Indonesia reasserted its commitment                              QNB Indonesia also strives to deliver a positive impact on
to supporting students in Indonesia to obtain adequate                        the society by involving its employees in various other
knowledge and skills on financial management through the                      positive initiatives.
QNB Indonesia Goes to School programme. This programme                        One positive initiative carried out by the Bank together
was held twice in the year, first in May 2023 at SMKN 30                      with its employees was blood donation. The event had been
Jakarta, and then in December 2023 at SMK Wisata                              carried out annually prior to the Covid-19 pandemic and was
Indonesia.                                                                    subsequently resumed upon the government’s official
A total of 120 participants were recorded at these                            revocation of Covid-19’s pandemic status.
two activities. These participants received a foundational                    In 2023, the blood donation activity was held at the Bank’s
knowledge on personal financial management through                            Head Office, in which around 100 employees took part.
interactive approaches, including games.
This programme involved 24 employees of the Bank who
acted as facilitators in the educational sessions.
Apart from the financial literacy activities carried out at
schools, through the QNB Indonesia Goes to School
programme, participants were invited to take part in a
“Financial Planning for Young People” digital poster
competition. It was expected that the information conveyed
through the digital posters can be received by
more people.


                                                                                                         PT Bank QNB Indonesia Tbk Annual Report 2023 — 163
Page 166
Financial
Statements
Page 167
The strong foundations we have been building over the past years
have delivered substantial progress which we will nurture as
we move forward.
Page 168
This page is intentionally left blank.
Page 169
PT Bank QNB Indonesia Tbk

Laporan keuangan tanggal 31 Desember 2023
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Financial statements as of December 31, 2023
and for the year then ended
with independent auditor’s report
Page 170

          
Page 171
                                                               The original financial statements included herein are in
                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                               PT BANK QNB INDONESIA TBK
              LAPORAN KEUANGAN                                       FINANCIAL STATEMENTS
          TANGGAL 31 DESEMBER 2023                                  AS OF DECEMBER 31, 2023
     DAN UNTUK TAHUN YANG BERAKHIR PADA                          AND FOR THE YEAR THEN ENDED
              TANGGAL TERSEBUT                                WITH INDEPENDENT AUDITOR’S REPORT
     BESERTA LAPORAN AUDITOR INDEPENDEN

                      Daftar Isi                                            Table of Contents

                                          Halaman/
                                           Pages


Laporan Auditor Independen                                                         Independent Auditor’s Report

Laporan Posisi Keuangan ……………………………....       1-2     ………………………… Statement of Financial Position

Laporan Laba Rugi dan Penghasilan                            Statement of Profit or Loss and Other
    Komprehensif Lain ………………………………….          3-4     ……………………………Comprehensive Income

Laporan Perubahan Ekuitas ……………………………          5      …………………………Statement of Changes in Equity

Laporan Arus Kas ………………………………………...           6-7     ………………..……………… Statement of Cash Flows

Catatan Atas Laporan Keuangan ………………………     8-135     ………………………Notes to the Financial Statements




                                   ************************
Page 172
                                                                                The original report included herein is in
                                                                                               the Indonesian language.




Laporan Audit or Independen                                Independent Audit or’s Report

Laporan No.       00096/ 2.1032/ AU.1/ 07/ 1681-           Report       No.    00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024                                             1/ 1/ II/ 2024


Pemegang     Saham,     Dewan           Komisaris,         The Shareholders and t he                   Boards        of
dan Direksi                                                Commissioners and Direct ors
PT Bank QNB Indonesia Tbk                                  PT Bank QNB Indonesia Tbk

Opini                                                      Opinion

Kami telah mengaudit laporan keuangan PT Bank              We have audited the accompanying financial
QNB Indonesia Tbk (“ Bank” ) terlampir, yang terdiri       statements of PT Bank QNB Indonesia Tbk (the
dari laporan posisi keuangan tanggal 31 Desember           “ Bank” ), which comprise the statement of
2023, serta laporan laba rugi dan penghasilan              financial position as of December 31, 2023, and
komprehensif lain, laporan perubahan ekuitas, dan          the statement of profit or loss and other
laporan arus kas untuk tahun yang berakhir pada            comprehensive income, statement of changes in
tanggal tersebut, serta catatan atas laporan               equity, and statement of cash flows for the year
keuangan,     termasuk      informasi     kebijakan        then ended, and notes to the financial statements,
akuntansi material.                                        including material accounting policy information.

Menurut opini kami, laporan keuangan terlampir             In our opinion, the accompanying financial
menyajikan secara wajar, dalam semua hal yang              statements present fairly, in all material respect s,
material, posisi    keuangan Bank tanggal                  the financial position of the Bank as of
31 Desember 2023, serta kinerja keuangan dan               December 31, 2023, and its financial
arus kasnya untuk tahun yang berakhir pada                 performance and cash flows for the year then
tanggal tersebut, sesuai dengan Standar                    ended, in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia.                           Accounting Standards.

Basis opini                                                Basis for opinion

Kami melaksanakan audit kami berdasarkan                   We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Instit ut               Standards on Auditing established by the
Akuntan Publik Indonesia (“ IAPI” ). Tanggung              Indonesian      Institute of     Certified    Public
jawab kami menurut standar tersebut diuraikan              Accountants (“ IICPA” ). Our responsibilities under
lebih lanjut dalam paragraf Tanggung Jawab                 those standards are further described in the
Auditor terhadap Audit atas Laporan Keuangan               Auditor’s Responsibilities for the Audit of the
pada laporan kami. Kami independen terhadap                Financial Statements paragraph of our report. We
Bank berdasarkan ketentuan etika yang relevan              are independent of the Bank in accordance with
dalam audit kami atas laporan keuangan di                  the ethical requirements that are relevant to our
Indonesia, dan kami telah memenuhi tanggung                audit of the financial statements in Indonesia, and
jawab etika lainnya berdasarkan ketentuan                  we have fulfilled our other ethical responsibilities
tersebut. Kami yakin bahwa bukti audit yang telah          in accordance with these requirements. We
kami peroleh adalah cukup dan tepat untuk                  believe that the audit evidence we have obtained
menyediakan suatu basis bagi opini kami.                   is sufficient and appropriate to provide a basis for
                                                           our opinion.

                                                       i
Page 173
                                                                                The original report included herein is in
                                                                                               the Indonesian language.


Laporan Audit or Independen (lanjut an)                   Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                 1/ 1/ II/ 2024 (continued)

Hal audit ut ama                                          Key audit mat t ers

Hal audit utama adalah hal-hal yang, menurut              Key audit matters are those matters that , in our
pertimbangan profesional kami, merupakan hal              professional judgment, were of most significance
yang paling signifikan dalam audit kami atas              in our audit of the financial statements of the
laporan keuangan periode kini. Hal tersebut               current period. Such key audit matters were
disampaikan dalam konteks audit kami atas                 addressed in the context of our audit of the
laporan keuangan secara keseluruhan, dan dalam            financial statements taken as a whole, and in
merumuskan opini kami atas laporan keuangan               forming our opinion thereon, and we do not
t erkait , dan kami tidak menyatakan suat u opini         provide a separate opinion on such key audit
terpisah atas hal audit utama tersebut. Untuk hal         matters. For the key audit matter below, our
audit utama di bawah ini, penjelasan kami tentang         description of how our audit addressed such
bagaimana audit kami merespons hal tersebut               matter is provided in such context .
disampaikan dalam konteks tersebut.

Kami telah memenuhi tanggung jawab yang                   We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab                   the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan              Financial Statements paragraph of our report,
pada laporan kami, termasuk sehubungan dengan             including in relation to key audit matter
hal audit utama yang dikomunikasikan di bawah             communicated below. Accordingly, our audit
ini. Oleh karena it u, audit kami mencakup                included the performance of procedures designed
pelaksanaan prosedur yang didesain untuk                  to respond to our assessment of the risks of
merespons penilaian kami atas risiko kesalahan            material misstatement of the accompanying
penyajian material dalam laporan keuangan                 financial statements. The result s of our audit
terlampir. Hasil prosedur audit kami, termasuk            procedures, including the procedures performed
prosedur yang dilakukan untuk merespons hal               to address the key audit matter below, provide the
audit utama di bawah ini, menyediakan basis bagi          basis for our opinion on the accompanying
opini kami atas laporan keuangan terlampir.               financial statements.

Cadangan kerugian penurunan nilai at as kredit            Allowance for impairment losses on loans
yang diberikan

Penjelasan atas hal audit utama:                          Description of the key audit matter:

Pada tanggal 31 Desember 2023, Bank memiliki              As of December 31, 2023, the Bank’s loans and
kredit yang diberikan dan cadangan kerugian               the allowance for impairment losses on loans
penurunan nilai atas kredit yang diberikan masing-        amounted to       Rp5,956,424       million and
masing sebesar Rp5.956.424 juta dan Rp507.139             Rp507,139 million, respectively. The material
juta. Informasi kebijakan akuntansi material untuk        accounting policies information of allowance for
cadangan kerugian penurunan nilai atas kredit             impairment losses on loans are disclosed in Note
yang diberikan diungkapkan dalam Catatan 2s atas          2s to the accompanying financial statements.
laporan keuangan terlampir.




                                                     ii
Page 174
                                                                                 The original report included herein is in
                                                                                                the Indonesian language.


Laporan Audit or Independen (lanjut an)                      Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                   Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                    1/ 1/ II/ 2024 (continued)

Hal audit ut ama (lanjut an)                                 Key audit mat t ers (cont inued)

Cadangan kerugian penurunan nilai at as kredit               Allowance for impairment           losses on loans
yang diberikan (lanjut an)                                   (cont inued)

Kami fokus pada area ini karena nilai tercatat atas          We focused on this area because the carrying
kredit yang diberikan dan cadangan kerugian                  value of loans and the allowance for impairment
penurunan nilai atas kredit yang diberikan adalah            losses on loans are material to the accompanying
material terhadap laporan keuangan terlampir.                financial statements. In addition, determination of
Selain itu, penentuan cadangan kerugian                      allowance for impairment losses requires
penurunan nilai memerlukan pertimbangan                      significant judgement and is subject to estimation
signifikan dan memiliki ketidakpastian estimasi              uncertaint y which includes determining the model
termasuk dalam penentuan model untuk                         to calculate allowance for impairment losses,
menghitung cadangan kerugian penurunan nilai,                identification of credit exposures with significant
identifikasi eksposur kredit yang mengalami                  deterioration in credit quality, and determining
penurunan kualitas kredit yang signifikan,                   assumptions used in the allowance for impairment
penentuan asumsi yang digunakan dalam model                  losses calculation models (for exposures assessed
perhitungan cadangan kerugian penurunan nilai                on an individual or collective basis), including
(untuk eksposur yang dinilai secara individu atau            forward-looking macroeconomics factors.
kolektif), termasuk faktor ekonomi makro masa
depan.

Pengungkapan cadangan kerugian penurunan nilai               The allowance for impairment losses on loans are
atas yang kredit diberikan diungkapkan pada                  disclosed in Note 12 to the accompanying
Catatan 12 atas laporan keuangan.                            financial statements.

Respons audit :                                              Audit response:
Kami menguji         pengendalian utama at as                We tested of key controls over the origination,
pemberian kredit, penilaian kualitas kredit internal         regular internal credit qualit y assessment s,
secara regular, pencatatan dan pengawasan kredit             recording and monitoring of the loans, obtained
yang diberikan, memperoleh pemahaman dan                     understanding       and     assessed      impairment
menilai metodologi pengukuran penurunan nilai,               measurement methodologies, validation of
validasi model cadangan kerugian penurunan nilai,            allowance for impairment losses models, input s,
data masukan, dasar, dan asumsi yang digunakan               bases and assumptions used by the Bank in
oleh Bank dalam menghitung cadangan kerugian                 calculating the allowance for impairment losses,
penurunan nilai, serta menguji tiga tahapan                  and tested the classification into three stage
kualitas kredit portfolio sesuai dengan kriteria             credit quality of loan port folios in accordance with
tingkatan (staging) yang disusun oleh Bank untuk             staging criteria developed by the Bank for loans.
kredit yang diberikan. Kami juga menguji apakah              We also tested whether historical experience is
pengalaman historis mewakili keadaan saat ini dan            representative of current circumstances and of
kerugian terkini yang terjadi dalam portfolio, serta         the recent losses incurred in the portfolios, and
menilai kewajaran atas penyesuaian asumsi masa               assessed reasonableness of forward-looking
depan, analisis faktor ekonomi makro, dan                    adjustment s, macroeconomic factor analysis, and
beberapa skenario probabilitas tertimbang untuk              probabilit y-weighted multiple scenarios for loans.
kredit yang diberikan.



                                                       iii
Page 175
                                                                              The original report included herein is in
                                                                                             the Indonesian language.



Laporan Audit or Independen (lanjut an)                   Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                 1/ 1/ II/ 2024 (continued)

Hal audit ut ama (lanjut an)                              Key audit mat t ers (cont inued)

Cadangan kerugian penurunan nilai at as kredit            Allowance for impairment           losses on loans
yang diberikan (lanjut an)                                (cont inued)

Respons audit : (lanjut an)                               Audit response: (cont inued)

Untuk cadangan kerugian penurunan nilai yang              With respect to individually assessed allowance
dinilai secara individual, kami menguji sampel            for impairment losses, tested a sample of loans to
kredit yang diberikan untuk mengevaluasi                  evaluate the timely identification by the Bank of
ketepatan waktu Bank dalam melakukan                      exposures with significant deterioration in credit
identifikasi eksposur kredit yang mengalami               quality or those which have been impaired. For
penurunan kualitas kredit yang signifikan atau            cases where impairment has been identified,
yang telah mengalami penurunan nilai. Untuk               assessed the Bank’s assumptions on the expected
kasus-kasus di mana penurunan nilai telah                 future cash flows, including the value of realizable
diidentifikasi, kami menilai asumsi Bank atas arus        collateral based on available market information
kas masa depan yang akan diterima, termasuk nilai         or valuation prepared by independent valuer.
agunan yang dapat direalisasikan berdasarkan
informasi pasar yang tersedia atau penilaian yang
dilakukan oleh penilai independen.

Kami juga memeriksa keakurasian perhitungan               We checked the accuracy of the calculation of the
jumlah cadangan kerugian penurunan nilai dengan           allowance for impairment losses amount by
melakukan perhit ungan ulang atas keseluruhan             recalculating     the    collective  impairment
portofolio yang penurunan nilainya dinilai secara         assessment for the entire portfolio and
kolektif dan melakukan perhitungan ulang atas             recalculating     the    individual  impairment
penurunan nilai yang dinilai secara individual            assessment on a sample basis, and assessed
berdasarkan sampel, dan menilai apakah                    whether the financial statements disclosures are
pengungkapan di laporan keuangan cukup dan                adequately and appropriately reflecting the
secara memadai mencerminkan eksposur Bank                 Bank’s exposures to credit risk and involved our
terhadap risiko kredit dan melibatkan pakar               auditor’s internal expert to assist us in the
auditor internal kami untuk membantu kami dalam           performance of the above procedures where their
melakukan prosedur-prosedur di atas ketika                specific expertise was required.
keahlian spesifik mereka diperlukan.

Hal lain                                                  Ot her mat t er

Laporan keuangan PT Bank QNB Indonesia Tbk                The financial statements of PT Bank QNB
tanggal 31 Desember 2022 dan untuk tahun yang             Indonesia Tbk as of December 31, 2022 and for
berakhir pada tanggal tersebut di audit oleh              the year then ended were audited by other
auditor independen lain dengan laporan                    independent      auditors      whose       report
No. 00017/ 2.1030/ AU.1/ 07/ 0501-1/ 1/ II/ 2023          No. 00017/ 2.1030/ AU.1/ 07/ 0501-1/ 1/ II/ 2023
tanggal 10 Februari 2023 menyatakan opini                 dated February 10, 2023 expressed an
tanpa modifikasian atas laporan keuangan                  unmodified opinion in such financial statements.
tersebut.



                                                     iv
Page 176
                                                                             The original report included herein is in
                                                                                            the Indonesian language.



Laporan Audit or Independen (lanjut an)                Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-             Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                              1/ 1/ II/ 2024 (continued)

Informasi lain                                         Ot her informat ion

Manajemen bertanggung jawab atas informasi             Management is responsible for the other
lain. Informasi lain terdiri dari informasi yang       information. Other information comprises the
tercantum dalam Laporan Tahunan 2023                   information included in the Annual Report 2023
(“ Laporan Tahunan” ) selain laporan keuangan          (the “ Annual Report” ) other than the
terlampir dan laporan auditor independen kami.         accompanying financial statements and our
Laporan Tahunan diharapkan akan tersedia bagi          independent auditor’s report thereon. The Annual
kami setelah tanggal laporan auditor independen        Report is expected to be made available to us after
ini.                                                   the date of this independent auditor’s report.

Opini kami atas laporan keuangan terlampir tidak       Our opinion on the accompanying financial
mencakup Laporan Tahunan, dan oleh karena itu,         statements does not cover the Annual Report, and
kami tidak menyatakan bentuk keyakinan apapun          accordingly, we do not express any form of
atas Laporan Tahunan tersebut.                         assurance on the Annual Report .

Sehubungan dengan audit kami atas laporan              In connection with our audit of the accompanying
keuangan terlampir, tanggung jawab kami adalah         financial statements, our responsibility is to read
untuk membaca Laporan Tahunan ketika tersedia          the Annual Report when it becomes available and,
dan dalam melaksanakannya, mempertimbangkan            in doing so, consider whether the Annual Report
apakah     Laporan     Tahunan    mengandung           is materially inconsistent with the accompanying
ketidakkonsistensian material dengan laporan           financial statements or our knowledge obtained in
keuangan terlampir atau pemahaman yang kami            the audit, or otherwise appears to be materially
peroleh selama audit, atau mengandung                  misstated.
kesalahan penyajian material.

Ketika kami membaca Laporan Tahunan, jika kami         When we read the Annual Report, if we conclude
menyimpulkan bahwa terdapat suatu kesalahan            that there is a material misstatement therein, we
penyajian material di dalamnya, kami diharuskan        are required to communicate t he matter to those
untuk mengomunikasikan hal tersebut kepada             charged with governance and take appropriate
pihak yang bertanggung jawab atas tata kelola          actions based on the applicable laws and
dan melakukan tindakan yang tepat berdasarkan          regulations.
peraturan perundang-undangan yang berlaku.

Tanggung jawab manajemen dan pihak yang                Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap       charged wit h governance for t he financial
laporan keuangan                                       st at ement s

Manajemen bertanggung jawab atas penyusunan            Management is responsible for the preparation
dan penyajian wajar laporan keuangan tersebut          and fair presentation of the financial statements
sesuai dengan Standar Akuntansi Keuangan di            in accordance with Indonesian Financial
Indonesia, dan atas pengendalian internal yang         Accounting Standards, and for such internal
dianggap    perlu   oleh   manajemen     untuk         control as management determines is necessary
memungkinkan penyusunan laporan keuangan               to enable the preparation of financial statements
yang bebas dari kesalahan penyajian material,          that are free from material misstatement,
baik yang disebabkan oleh kecurangan maupun            whether due to fraud or error.
kesalahan.

                                                   v
Page 177
                                                                             The original report included herein is in
                                                                                            the Indonesian language.



Laporan Audit or Independen (lanjut an)                   Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                 1/ 1/ II/ 2024 (continued)

Tanggung jawab manajemen dan pihak yang                   Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap          charged wit h governance for t he financial
laporan keuangan (lanjut an)                              st at ement s (cont inued)

Dalam     penyusunan       laporan      keuangan,         In    preparing     the    financial    statements,
manajemen bertanggung jawab untuk menilai                 management is responsible for assessing the
kemampuan Bank dalam mempertahankan                       Bank’s ability to continue as a going concern,
kelangsungan usahanya, mengungkapkan, sesuai              disclosing, as applicable, matters related to going
dengan kondisinya, hal-hal yang berkaitan dengan          concern, and using the going concern basis of
kelangsungan usaha, dan menggunakan basis                 accounting, unless management either intends to
akuntansi     kelangsungan     usaha,      kecuali        liquidate the Bank or to cease it s operations, or
manajemen memiliki intensi untuk melikuidasi              has no realistic alternative but to do so.
Bank atau menghentikan operasi, atau tidak
memiliki   alternatif   yang    realistis selain
melaksanakannya.

Pihak yang bertanggung jawab atas tata kelola             Those charged with governance are responsible
bertanggung jawab untuk mengawasi proses                  for overseeing the Bank’s financial reporting
pelaporan keuangan Bank.                                  process.

Tanggung jawab audit or t erhadap audit at as             Audit or’s responsibilit ies for t he audit of t he
laporan keuangan                                          financial st at ement s

Tujuan kami adalah untuk memeroleh keyakinan              Our objectives are to obtain reasonable assurance
memadai tentang apakah laporan keuangan                   about whether the financial statements taken as a
secara keseluruhan bebas dari kesalahan                   whole are free from material misstatement,
penyajian material, baik yang disebabkan oleh             whether due to fraud or error, and to issue an
kecurangan maupun kesalahan, dan untuk                    Independent Auditor’s report that includes our
menerbitkan laporan auditor independen yang               opinion. Reasonable assurance is a high level of
mencakup opini kami. Keyakinan memadai                    assurance, but is not a guarantee that an audit
merupakan suatu tingkat keyakinan tinggi, namun           conducted in accordance with Standards on
bukan merupakan suatu jaminan bahwa audit                 Auditing established by the IICPA will always
yang dilaksanakan berdasarkan Standar Audit               detect a material misstatement when it exists.
yang ditetapkan oleh IAPI akan selalu mendeteksi          Misstatements can arise from fraud or error and
kesalahan penyajian material ketika hal tersebut          are considered material if, individually or in the
ada. Kesalahan penyajian dapat disebabkan oleh            aggregate, they could reasonably be expected to
kecurangan maupun kesalahan dan dianggap                  influence the economic decisions of users taken
material jika, baik secara individual maupun              on the basis of these financial statements.
agregat, dapat diekspektasikan secara wajar akan
memengaruhi keputusan ekonomi yang diambil
oleh pengguna berdasarkan laporan keuangan
tersebut.




                                                     vi
Page 178
                                                                             The original report included herein is in
                                                                                            the Indonesian language.



Laporan Audit or Independen (lanjut an)                   Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                 1/ 1/ II/ 2024 (continued)

Tanggung jawab audit or t erhadap audit at as             Audit or’s responsibilit ies for t he audit of t he
laporan keuangan (lanjut an)                              financial st at ement s (cont inued)

Sebagai bagian dari suatu audit berdasarkan               As part of an audit in accordance with Standards
Standar Audit yang ditetapkan oleh IAPI, kami             on Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan                   professional judgment and maintain professional
mempertahankan skeptisisme profesional selama             skepticism throughout the audit . We also:
audit. Kami juga:

x   Mengidentifikasi dan menilai risiko kesalahan         x   Identify and assess the risks of material
    penyajian material dalam laporan keuangan,                misstatement of the financial statements,
    baik yang disebabkan oleh kecurangan                      whether due to fraud or error, design and
    maupun       kesalahan,    mendesain      dan             perform audit procedures responsive to such
    melaksanakan prosedur audit yang responsif                risks, and obtain audit evidence that is
    terhadap risiko tersebut, serta memeroleh                 sufficient and appropriate to provide a basis
    bukt i audit yang cukup dan t epat unt uk                 for our opinion. The risk of not detecting a
    menyediakan basis bagi opini kami. Risiko                 material misstatement resulting from fraud is
    tidak terdeteksinya suatu kesalahan penyajian             higher than for one resulting from error, as
    material yang disebabkan oleh kecurangan                  fraud may involve collusion, forgery,
    lebih tinggi daripada yang disebabkan oleh                intentional omissions, misrepresentations, or
    kesalahan,     karena    kecurangan     dapat             override of internal control.
    melibat kan kolusi, pemalsuan, penghilangan
    secara sengaja, pernyat aan salah, at au
    pengabaian pengendalian internal.

x   Memeroleh suatu pemahaman tentang                     x   Obtain an understanding of internal control
    pengendalian internal yang relevan dengan                 relevant to the audit in order to design audit
    audit untuk mendesain prosedur audit yang                 procedures that are appropriate in the
    tepat sesuai dengan kondisinya, tetapi bukan              circumstances, but not for the purpose of
    untuk tujuan menyatakan opini atas                        expressing an opinion on the effectiveness of
    keefektivitasan pengendalian internal Bank.               the Bank’s internal control.

x   Mengevaluasi ketepatan kebijakan akuntansi            x   Evaluate the appropriateness of accounting
    yang digunakan serta kewajaran estimasi                   policies used and the reasonableness of
    akuntansi dan pengungkapan terkait yang                   accounting estimates and related disclosures
    dibuat oleh manajemen.                                    made by management.




                                                    vii
Page 179
                                                                               The original report included herein is in
                                                                                              the Indonesian language.



Laporan Audit or Independen (lanjut an)                    Independent Audit or’s Report (cont inued)

Laporan No. 00096/ 2.1032/ AU.1/ 07/ 1681-                 Report       No.   00096/ 2.1032/ AU.1/ 07/ 1681-
1/ 1/ II/ 2024 (lanjutan)                                  1/ 1/ II/ 2024 (continued)

Tanggung jawab audit or t erhadap audit at as              Audit or’s responsibilit ies for t he audit of t he
laporan keuangan (lanjut an)                               financial st at ement s (cont inued)

Sebagai bagian dari suatu audit berdasarkan                As part of an audit in accordance with Standards
Standar Audit yang ditetapkan oleh IAPI, kami              on Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan                    professional judgment and maintain professional
mempertahankan skeptisisme profesional selama              skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan)                               (continued)
x   Menyimpulkan ketepatan penggunaan basis                x   Conclude on the appropriateness of
    akuntansi     kelangsungan      usaha   oleh               management's use of the going concern basis
    manajemen dan, berdasarkan bukti audit yang                of accounting and, based on the audit evidence
    diperoleh,     apakah      terdapat    suatu               obtained, whether a material uncertaint y
    ketidakpastian material yang terkait dengan                exists related to events or conditions that may
    peristiwa    atau    kondisi    yang   dapat               cast significant doubt on the Bank's abilit y to
    menyebabkan keraguan signifikan atas                       continue as a going concern. If we conclude
    kemampuan Bank untuk mempertahankan                        that a material uncertainty exists, we are
    kelangsungan      usahanya.     Ketika  kami               required to draw attention in our independent
    menyimpulkan       bahwa     terdapat  suatu               auditor’s report to the related disclosures in
    ketidakpastian material, kami diharuskan                   the financial statements or, if such disclosures
    untuk menarik perhatian dalam laporan                      are inadequate, to modify our opinion. Our
    auditor independen kami ke pengungkapan                    conclusions is based on the audit evidence
    terkait dalam laporan keuangan atau, jika                  obtained up to the date of our independent
    pengungkapan tersebut tidak memadai,                       auditor’s report. However, future event s or
    memodifikasi opini kami. Kesimpulan kami                   conditions may cause the Bank to cease to
    didasarkan pada bukti audit yang diperoleh                 continue as a going concern.
    hingga tanggal laporan auditor independen
    kami. Namun, peristiwa atau kondisi masa
    depan dapat menyebabkan Bank tidak dapat
    mempertahankan kelangsungan usahanya.
x   Mengevaluasi penyajian, strukt ur, dan isi             x   Evaluate the overall presentation, structure,
    laporan keuangan secara keseluruhan,                       and content of the financial statements,
    termasuk pengungkapannya, dan apakah                       including the disclosures, and whether the
    laporan keuangan mencerminkan transaksi                    financial statements represent the underlying
    dan peristiwa yang mendasarinya dengan                     transactions and event s in a manner that
    suatu cara yang mencapai penyajian wajar.                  achieves fair presentation.

Kami mengomunikasikan kepada pihak yang                    We communicate with those charged with
bertanggung jawab atas tata kelola mengenai,               governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang                   planned scope and timing of the audit and
direncanakan atas audit serta temuan audit                 significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan          deficiencies in internal control that we identify
dalam pengendalian internal yang teridentifikasi           during our audit.
oleh kami selama audit.




                                                    viii
Page 180

          
Page 181
                                                                                      The original financial statements included herein are in
                                                                                                                    the Indonesian language.

                PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
                 LAPORAN POSISI KEUANGAN                                             STATEMENT OF FINANCIAL POSITION
                  Tanggal 31 Desember 2023                                                 As of December 31, 2023
                (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
                    kecuali dinyatakan lain)                                               unless otherwise stated)

                                                                Catatan/
                                             2023                Notes                2022
ASET                                                                                                                               ASSETS

Kas                                              24.445       2d,2f,5,36,40                  33.354                                    Cash

                                                               2d,2f,2g,6,                                      Current accounts with Bank
Giro pada Bank Indonesia                        543.920         36,37,40                  919.797                            Indonesia

Giro pada bank lain                                            2d,2e,2f,2g                               Current accounts with other banks
    Pihak berelasi                                  282        2s,7,36,37                     338                      Related parties
    Pihak ketiga                                183.822           38,40                   148.042                         Third parties
                                                184.104                                   148.380
Cadangan kerugian penurunan nilai                   (15)                                      (33)         Allowance for impairment losses
Neto                                            184.089                                   148.347                                       Net

Penempatan pada Bank Indonesia                                2d,2f,2h,2s,                             Placements with Bank Indonesia and
   dan bank lain                              1.092.008        8,36,37,40               1.032.898                          other banks

Tagihan derivatif                                        11   2f,2i,9,36,37                    108                   Derivative receivables

                                                               2d,2f,2j,2s
Tagihan akseptasi                                         -   10,36,37,40                 188.512                  Acceptance receivables
Cadangan kerugian penurunan nilai                         -                                  (217)         Allowance for impairment losses
Neto                                                      -                               188.295                                       Net

Efek-efek yang dibeli dengan janji                              2f,2k,2s                                        Securities purchased under
   dijual kembali                             2.977.202         11,36,37                3.072.222                  agreements to resell

Kredit yang diberikan                                         2d,2e,2f,2l,2s                                                          Loans
   Pihak berelasi                                 1.976        12,32,36,37,               493.666                        Related parties
   Pihak ketiga                               5.954.448           38,40                 9.168.584                          Third parties
                                              5.956.424                                 9.662.250
Cadangan kerugian penurunan nilai              (507.139)                                 (406.127)         Allowance for impairment losses
Neto                                          5.449.285                                 9.256.123                                       Net

Efek-efek                                                     2d,2e,2f,2m,2s                                                     Securities
   Pihak ketiga                                 389.952       13,32,36,37,40              514.182                          Third parties

Cadangan kerugian penurunan nilai                         -                                    (195)       Allowance for impairment losses
Neto                                            389.952                                   513.987                                       Net

Beban dibayar dimuka                             33.035           14,45                      22.687                           Prepayments

Aset pajak tangguhan - neto                     280.354           2n,24                   272.500                 Deferred tax assets - net

Aset tetap dan aset hak guna                                  2o,2s,15,45                              Fixed assets and right-of-use assets
   Biaya perolehan                              509.672                                   569.349                                  Cost
   Akumulasi penyusutan                        (296.756)                                 (293.951)           Accumulated depreciation
Nilai buku                                      212.916                                   275.398                               Book value

Aset takberwujud                                                2p,16,45                                                 Intangible assets
   Biaya perolehan                              164.411                                   150.057                                 Cost
   Akumulasi amortisasi                        (104.519)                                  (92.909)            Accumulated amortization
Nilai buku                                       59.892                                      57.148                             Book value

Agunan yang diambil alih - neto                 250.416         2q,2s,17                  665.046                   Foreclosed assets - net
                                                                2d,2f,2r

Aset lain-lain - neto                           255.960       18,36,37,40                 259.177                        Other assets - net
TOTAL ASET                                   11.753.485                               16.717.087                          TOTAL ASSETS


   Catatan atas laporan keuangan terlampir merupakan                          The accompanying notes to the financial statements form an
   bagian yang tidak terpisahkan dari laporan keuangan                        integral part of these financial statements taken as a whole.
                   secara keseluruhan.

                                                                    1
Page 182
                                                                                      The original financial statements included herein are in
                                                                                                                    the Indonesian language.

               PT BANK QNB INDONESIA TBK                                              PT BANK QNB INDONESIA TBK
            LAPORAN POSISI KEUANGAN (lanjutan)                                 STATEMENT OF FINANCIAL POSITION (continued)
                 Tanggal 31 Desember 2023                                                As of December 31, 2023
               (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
                   kecuali dinyatakan lain)                                              unless otherwise stated)


                                                               Catatan/
                                             2023               Notes                 2022
LIABILITAS DAN EKUITAS                                                                                               LIABILITIES AND EQUITY

LIABILITAS                                                                                                                          LIABILITIES

Liabilitas segera                                12.555      2d,2f,19,36,40                  24.028                Liabilities payable on demand

Simpanan dari nasabah                                                                                                  Deposits from customers
   Pihak berelasi                                80.145       2d,2e,2f,2t,                97.411                            Related parties
   Pihak ketiga                               6.259.058       20,36,38,40             10.507.213                               Third parties
                                              6.339.203                               10.604.624

Simpanan dari bank lain                                                                                               Deposits from other banks
   Pihak berelasi                                     276     2d,2e,2f,2t,                       22                          Related parties
   Pihak ketiga                                     1.556     21,36,38,40                     7.280                             Third parties
                                                    1.832                                     7.302

                                                               2d,2f,2i,
Liabilitas akseptasi                                     -     10,36,40                      26.336                        Acceptance payables

Liabilitas derivatif                                1.838     2e,2f,2i,9,36                     90                           Derivative payables

Efek-efek yang dijual dengan janji                            2f,2k,3c,3d,                                                 Securities sold under
   dibeli kembali                               385.051          22,36                                -              repurchase agreements

Pinjaman diterima                                        -      2f,23,36                1.000.000                                      Borrowing

Liabilitas imbalan kerja                         67.187        2e,2v,25                      68.066          Obligation for employment benefits

Beban masih harus dibayar dan                                  2d,2f,2n,
   liabilitas lain-lain                         254.370        26,36,40                   333.222                   Accruals and other liabilities
TOTAL LIABILITAS                              7.062.036                               12.063.668                           TOTAL LIABILITIES

EKUITAS                                                                                                                                  EQUITY

Modal saham - nilai nominal Rp250                                                                              Share capital - par value of Rp250
  (Rupiah penuh) per saharn                                                                                         (whole Rupiah) per share
  Modal dasar 40.000.000.000                                                                               Authorized capital 40,000,000,000
    saham masing-masing per                                                                               shares as of December 31, 2023
    31 Desember 2023 dan 2022                                                                                       and 2022, respectively
  Modal ditempatkan dan                                                                                                        Issued and fully
    disetor penuh                                                                                                                paid capital
    35.158.048.365 dan                                                                                                 35,158,048,365 and
    20.436.685.984 saham                                                                                            20,436,685,984 shares
    masing-masing per                                                                                       as of December 31, 2023 and
    31 Desember 2023 dan 2022                 8.789.512        1b,2w,27                 5.109.171                      2022, respectively

Tambahan modal disetor                           (33.588)      2w,2x,28                   (30.150)                      Additional paid-in capital

Dana setoran modal                                  3.652         27                    3.683.926                              Advanced capital

Cadangan nilai wajar - neto                           (61)        13                         28.183                      Fair value reserve - net

Saldo laba (defisit):                                                                                                Retained earnings (deficit):
   Telah ditentukan penggunaannya                  6.396                                    6.396                              Appropriated
   Belum ditentukanpenggunaannya              (4.074.462)                              (4.144.107)                          Unappropriated
TOTAL EKUITAS                                 4.691.449                                 4.653.419                               TOTAL EQUITY
TOTAL LIABILITAS DAN EKUITAS                 11.753.485                               16.717.087             TOTAL LIABILITIES AND EQUITY




   Catatan atas laporan keuangan terlampir merupakan                          The accompanying notes to the financial statements form an
   bagian yang tidak terpisahkan dari laporan keuangan                        integral part of these financial statements taken as a whole.
                   secara keseluruhan.

                                                                   2
Page 183
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

            PT BANK QNB INDONESIA TBK                                              PT BANK QNB INDONESIA TBK
              LAPORAN LABA RUGI DAN                                            STATEMENT OF PROFIT OR LOSS AND
         PENGHASILAN KOMPREHENSIF LAIN                                           OTHER COMPREHENSIVE INCOME
        Untuk Tahun yang Berakhir pada Tanggal                                          For the Year Ended
                   31 Desember 2023                                                     December 31, 2023
            (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                              unless otherwise stated)


                                          Tahun yang Berakhir pada Tanggal 31 Desember/
                                                     Year Ended December 31

                                                             Catatan/
                                               2023           Notes             2022

PENDAPATAN DAN BEBAN                                                                                          OPERATING INCOME
  OPERASIONAL                                                                                                  AND EXPENSES

Pendapatan bunga                                 944.701 2d,2e,2z,30,38            863.896                             Interest income
Beban bunga                                     (440.803) 2d,2e,2z,30,38          (431.896)                          Interest expense

PENDAPATAN BUNGA - NETO                          503.898                          432.000                 INTEREST INCOME - NET


PENDAPATAN OPERASIONAL
  LAINNYA                                                                                            OTHER OPERATING INCOME

Provisi dan komisi - neto                         63.006      2aa,31               68.127                 Fees and commission - net
Pendapatan transaksi perdagangan - neto           19.895       2ab                 21.034                       Trading income - net
Lain-lain                                        163.011        12                180.294                                    Others

TOTAL PENDAPATAN                                                                                                  TOTAL OTHER
  OPERASIONAL LAINNYA                            245.912                          269.455                  OPERATING INCOME


BEBAN OPERASIONAL LAINNYA                                                                         OTHER OPERATING EXPENSES

Beban karyawan                                  (289.816)   2e,2v,33,38           (280.414)                     Personnel expenses
Beban umum dan administrasi                     (209.734)       34                (202.517)     General and administrative expenses
Penyisihan cadangan kerugian penurunan                                                               Provision for impairment losses
  nilai aset keuangan                           (136.468)     2s,32               (613.732)                   on financial assets
Kerugian atas penjualan aset keuangan            (39.668)      12                        -           Loss on sale of financial assets
Lain-lain                                         (4.875)                           (5.524)                                    Others

TOTAL BEBAN                                                                                                      TOTAL OTHER
  OPERASIONAL LAINNYA                           (680.561)                       (1.102.187)            OPERATING EXPENSES


LABA (RUGI) SEBELUM PAJAK                                                                                  PROFIT (LOSS) BEFORE
  PENGHASILAN                                     69.249                          (400.732)                       INCOME TAX

Beban pajak penghasilan                                 -     2n,24                       -                      Income tax expense

LABA (RUGI) TAHUN BERJALAN                        69.249                          (400.732)        PROFIT (LOSS) FOR THE YEAR




  Catatan atas laporan keuangan terlampir merupakan                     The accompanying notes to the financial statements form an
  bagian yang tidak terpisahkan dari laporan keuangan                   integral part of these financial statements taken as a whole.
                  secara keseluruhan.

                                                                3
Page 184
                                                                                  The original financial statements included herein are in
                                                                                                                the Indonesian language.

           PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
             LAPORAN LABA RUGI DAN                                             STATEMENT OF PROFIT OR LOSS AND
     PENGHASILAN KOMPREHENSIF LAIN (lanjutan)                                OTHER COMPREHENSIVE INCOME (continued)
       Untuk Tahun yang Berakhir pada Tanggal                                           For the Year Ended
                  31 Desember 2023                                                      December 31, 2023
           (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
               kecuali dinyatakan lain)                                               unless otherwise stated)


                                           Tahun yang Berakhir pada Tanggal 31 Desember/
                                                      Year Ended December 31

                                                               Catatan/
                                                2023            Notes             2022

LABA (RUGI) TAHUN BERJALAN                         69.249                           (400.732)        PROFIT (LOSS) FOR THE YEAR


PENGHASILAN KOMPREHENSIF LAIN                                                                    OTHER COMPREHENSIVE INCOME

Pos-pos yang akan direklasifikasikan                                                                 Item that would be reclassified to
  ke laba rugi:                                                                                                        profit or loss:
  Perubahan nilai wajar efek-efek                                                                  Fair value changes of securities
    yang diukur pada nilai wajar melalui                                                          measured at fair value through
    penghasilan komprehensif lain                 (36.210)      2m,13                 25.100       other comprehensive income

  Pajak penghasilan terkait dengan                                                                             Income tax related to
    pos-pos yang akan                                                                                          item that would be
    direklasifikasikan ke laba rugi                    7.966    13,24                 (5.522)         reclassified to profit or loss

                                                  (28.244)                            19.578

Pos-pos yang tidak akan                                                                           Item that would not be reclassified to
  direklasifikasikan ke laba rugi:                                                                                       profit or loss:
  Pengukuran kembali atas liabilitas                                                               Remeasurements of obligation for
     imbalan pasca-kerja                                508     2v,25                 10.288           post-employment benefits
  Pajak penghasilan terkait dengan                                                                               Income tax related to
     pos-pos yang tidak akan                                                                               item that would not be
     direklasifikasikan ke laba rugi                   (112)     24                   (2.263)         reclassified to profit or loss

                                                        396                            8.025

(Kerugian) penghasilan komprehensif                                                                Other comprehensive (loss) income
  lain setelah pajak                              (27.848)                            27.603                              net of tax

Total penghasilan (kerugian)                                                                            Total comprehensive income
  komprehensif tahun berjalan                      41.401                           (373.129)                    (loss) for the year


LABA (RUGI) PER SAHAM DASAR                                                                      PROFIT (LOSS) PER SHARE BASIC
  (dalam Rupiah penuh)                                  2,50    2y,35                 (24,28)                   (in whole Rupiah)




  Catatan atas laporan keuangan terlampir merupakan                       The accompanying notes to the financial statements form an
  bagian yang tidak terpisahkan dari laporan keuangan                     integral part of these financial statements taken as a whole.
                  secara keseluruhan.

                                                                 4
Page 185
                                                                                                                                                  The original financial statements included herein are in the Indonesian language.


                        PT BANK QNB INDONESIA TBK                                                                                                    PT BANK QNB INDONESIA TBK
                       LAPORAN PERUBAHAN EKUITAS                                                                                                 STATEMENT OF CHANGES IN EQUITY
          Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2023                                                                                For the Year Ended December 31, 2023
            (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                    (Expressed in millions of Rupiah, unless otherwise stated)




                                                                   Tambahan                                                         Saldo laba (defisit)/
                                                                     Modal                                                       Retained earnings (deficit)
                                                     Modal          disetor/                            Cadangan nilai
                                                     saham/        Additional        Dana setoran        wajar - neto/       Telah ditentukan   Belum ditentukan
                                          Catalan/    Share         paid-in             modal/            Fair value         penggunaannya/     penggunaannya/          Total ekuitas/
                                           Notes     capital        capital         Advanced capital     reserve - net         Appropriated      Unappropriated          Total Equity

Saldo per 31 Desember 2021                             5.109.171         (30.150)          2.683.926              8.605                 6.396            (3.751.400)           4.026.548       Balance as of Deccember 31, 2021


Rugi tahun berjalan                                            -                -                  -                     -                  -              (400.732 )           (400.732)                          Loss for the year
Pengukuran kembali atas liabilitas                                                                                                                                                                Remeasurements of obligation for
  imbalan pasca kerja - setelah pajak                          -                -                  -                     -                  -                   8.025              8.025    post-employment benefits - net of tax
Keuntungan yang belum direalisasi atas                                                                                                                                                                Unrealized gain on securities
  efek-efek diukur pada nilai wajar                                                                                                                                                                        measured at fair value
  melalui penghasilan komrephensif lain                                                                                                                                                     through other comprehensive income
  - setelah pajak                                              -                -                  -             19.578                     -                       -             19.578                              - net of tax
Penambahan dana setoran modal               27                 -                -          1.000.000                  -                     -                       -          1.000.000                Additional advanced capital

Saldo per 31 Desember 2022                             5.109.171         (30.150)          3.683.926             28.183                 6.396            (4.144.107)           4.653.419       Balance as of Deccember 31, 2022


Laba tahun berjalan                                            -                -                  -                     -                  -                  69.249             69.249                         Profit for the year
Pengukuran kembali atas liabilitas                                                                                                                                                                Remeasurements of obligation for
  imbalan pasca kerja - setelah pajak                          -                -                  -                     -                  -                    396                 396    post-employment benefits - net of tax
Keuntungan yang belum direalisasi atas                                                                                                                                                                Unrealized gain on securities
  efek-efek diukur pada nilai wajar                                                                                                                                                                        measured at fair value
  melalui penghasilan komrephensif lain                                                                                                                                                     through other comprehensive income
  - setelah pajak                                              -                -                  -            (28.244)                    -                       -            (28.244)                            - net of tax
Hasil emisi bersih dari
  penawaran umum terbatas VII                          3.680.341               -          (3.680.274)                    -                  -                       -                 67       Net proceed from Public Offering VII
Biaya emisi saham                                              -          (3.438)                  -                     -                  -                       -             (3.438)                     Share issuance cost

Saldo per 31 Desember 2023                             8.789.512         (33.588)              3.652                (61)                6.396            (4.074.462)           4.691.449       Balance as of Deccember 31, 2023




    Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan                              The accompanying notes to the financial statements form an integral part of these financial
                       dari laporan keuangan secara keseluruhan.                                                                             statements taken as a whole.


                                                                                                         5
Page 186
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

             PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
                  LAPORAN ARUS KAS                                               STATEMENT OF CASH FLOWS
         Untuk Tahun yang Berakhir pada Tanggal                              For the Year Ended December 31, 2023
                    31 Desember 2023                                           (Expressed in millions of Rupiah,
             (Disajikan dalam jutaan Rupiah,                                        unless otherwise stated)
                 kecuali dinyatakan lain)


                                        Tahun yang Berakhir pada Tanggal 31 Desember/
                                                   Year Ended December 31

                                                           Catatan/
                                             2023           Notes             2022

ARUS KAS DARI                                                                                              CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                                    OPERATING ACTIVITIES

Penerimaan bunga                                854.297                          864.621             Receipts from interest icome
Pembayaran bunga                               (453.464)                        (413.966)           Payments for interest expense
Penerimaan provisi dan komisi                    66.011    2aa,31                 70.708         Receipts for fees and commission
Pembayaran provisi dan komisi                    (5.020)   2aa,31                 (2.581)       Payments for fees and commission
Pembayaran beban karyawan                      (271.979)                        (275.114)        Payments for personnel expenses
Pembayaran imbalan pasca-kerja                  (18.207)     25                   (8.556)       Payment for post employee benefit
Penerimaan pendapatan lainnya                   125.611                          221.202                Receipts for other income
Pembayaran beban lainnya - neto                (209.705)                        (218.914)       Payments for other expenses - net

Perubahan dalam aset dan                                                                               Changes in operating assets
  liabilitas operasi:                                                                                              and liabilities:

  Penurunan (kenaikan)                                                                                     Decrease (increase) in
   dalam aset operasi:                                                                                        operating assets:
     Efek-efek yang dibeli dengan                                                                 Securities purchased under
       janji dijual kembali                      95.020                         (721.453)             agreements to resell
     Tagihan akseptasi                          188.512                         (181.734)            Acceptance receivables
     Kredit yang diberikan                    3.669.944                         (256.401)                              Loans
     Beban dibayar di muka                      (38.375)                          (9.951)                       Prepayments
     Aset lain-lain                             550.719                          474.966                         Other assets

  Kenaikan (penurunan) dalam                                                                     Increase (decrease) in operating
   liabilitas operasi:                                                                                                   liabilities:
      Liabilitas segera                         (11.473)                           7.781        Liabilities payable on demand
      Simpanan dari nasabah                  (4.265.421)                      (1.410.572)            Deposits from customers
      Simpanan dari bank lain                    (5.470)                            (469)           Deposits from other banks
      Efek-efek yang dijual dengan                                                                         Securities sold under
        janji dibeli kembali                    385.051                                -           repurchased agreements
      Liabilitas akseptasi                      (26.336)                          19.558                  Acceptance payables
      Beban masih harus dibayar dan                                                                                Accruals and
         liabilitas lain-lain                   (42.043)                        (101.167)                      other liabilities

Arus kas neto diperoleh dari                                                                         Net cash flows provided by
  (digunakan untuk) aktivitas operasi           587.672                       (1.942.042)         (used in) operating activities


ARUS KAS DARI AKTIVITAS                                                                         CASH FLOWS FROM INVESTING
  INVESTASI                                                                                                   ACTIVITIES

Penerimaan atas efek-efek yang telah                                                                      Proceeds from matured
  jatuh tempo                                   124.169                          824.416                               securities
Penempatan pada efek-efek                             -                         (396.388)                Placements in securities
Hasil penjualan aset tetap                        5.107     15,45                    805        Proceeds from sale of fixed assets
Perolehan aset tetap                                (89)    15,45                 (5.539)              Acquisition of fixed assets
Perolehan aset tak berwujud                        (195)    16,45                   (604)          Acquisition of intangible assets

Arus kas neto diperoleh dari                                                                          Net cash flows provided by
  aktivitas investasi                           128.992                         422.690                     investing activities




  Catatan atas laporan keuangan terlampir merupakan                   The accompanying notes to the financial statements form an
  bagian yang tidak terpisahkan dari laporan keuangan                 integral part of these financial statements taken as a whole.
                  secara keseluruhan.

                                                             6
Page 187
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

             PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
             LAPORAN ARUS KAS (lanjutan)                                   STATEMENT OF CASH FLOWS (continued)
         Untuk Tahun yang Berakhir pada Tanggal                             For the Year Ended December 31, 2023
                    31 Desember 2023                                          (Expressed in millions of Rupiah,
             (Disajikan dalam jutaan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


                                       Tahun yang Berakhir pada Tanggal 31 Desember/
                                                  Year Ended December 31

                                                           Catatan/
                                             2023           Notes             2022

ARUS KAS DARI AKTIVITAS                                                                        CASH FLOWS FROM FINANCING
  PENDANAAN                                                                                                  ACTIVITIES

Pembayaran obligasi yang diterbitkan                  -      46                (100.000)              Payment on bonds issuance
Pembayaran pinjaman diterima                 (1.000.000)    23,46                     -                   Payment on borrowings
Penerimaan dana setoran modal                         -      27               1.000.000              Proceed from advance capital
Penerbitan saham baru                                67                               -                     Issuance new shares
Biaya emisi saham                                (3.438)     28                       -                       Share issuance cost
Pembayaran liabilitas sewa                      (24.148)     46                 (29.774)                 Payment of lease liability

Arus kas neto (digunakan untuk)                                                                         Net cash flows (used in)
  diperoleh dari aktivitas pendanaan         (1.027.519)                        870.226        provided by financing activities


(Penurunan) neto Kas                                                                                       Net (decrease) in Cash
  dan Setara Kas                               (310.855)                        (649.126)                 and Cash Equivalents

Pengaruh neto perubahan kurs                                                                           Net effect on exchange rate
  pada Kas dan Setara Kas                        20.903                           19.077          on Cash and Cash Equivalents

Kas dan Setara Kas                                                                                     Cash And Cash Equivalents
  Awal Tahun                                  2.134.429                       2.764.478                    At Beginning of Year

Kas dan Setara Kas,                                                                                  Cash and Cash Equivalents,
  Akhir Tahun                                 1.844.477                       2.134.429                    At The End of Year



Komponen Kas dan Setara Kas                                                                                Component of Cash and
                                                                                                               Cash Equivalents

Kas                                              24.445      2b,5                33.354                                      Cash
Giro pada Bank Indonesia                        543.920      2b,6               919.797      Current accounts with Bank Indonesia
Giro pada bank lain                             184.104      2b,7               148.380         Current accounts with other banks
Penempatan pada Bank Indonesia
  dan bank lain jatuh tempo                                                                   Placements with Bank Indonesia and
  dalam 3 (tiga) bulan                                                                      other banks maturing within 3 (three)
  sejak tanggal perolehan                     1.092.008      2b,8             1.032.898        months since the acquisition date

                                              1.844.477                       2.134.429




  Catatan atas laporan keuangan terlampir merupakan                   The accompanying notes to the financial statements form an
  bagian yang tidak terpisahkan dari laporan keuangan                 integral part of these financial statements taken as a whole.
                  secara keseluruhan.

                                                             7
Page 188
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


1.   Umum                                                       1.   General

     a.   Pendirian dan Informasi Umum                               a.    Establishment and General Information

          PT Bank QNB Indonesia Tbk (“Bank”) didirikan                     PT Bank QNB Indonesia Tbk (“the Bank”) was
          pada tanggal 1 April 1913 dengan nama                            established on April 1, 1913 under the name
          N.V Chunghwa Shangyeh Maatschappij (The                          N.V Chunghwa Shangyeh Maatschappij (The
          Chinese Trading Bank Limited) berdasarkan                        Chinese Trading Bank Limited) based on the
          Akta No. 53 tanggal 28 April 1913 yang dibuat                    Notarial Deed No. 53 dated April 28, 1913 of
          di hadapan Notaris Leonard Hendrik-Willem                        Notary Leonard Hendrik-Willem Van Sandick
          Van Sandick dan telah disetujui berdasarkan                      and was approved based on Besluit
          Besluit Gouverneur Generaal Hindia Belanda                       Gouverneur Generaal Hindia Belanda No. 58
          No. 58 tanggal 16 Juli 1913 dan diumumkan                        dated July 16, 1913 and was published in the
          dalam Extra Bijvougsel der Javasche Courant                      Extra Bijvougsel der Javasche Courant No. 78
          No. 78 tanggal 30 September 1913.                                dated September 30, 1913.

          Berdasarkan    Surat    Keputusan Menteri                        Based on Decree of the Minister of Finance
          Keuangan     No.    191547/U.M.II tanggal                        No. 191547/U.M.II dated October 28, 1958, the
          28 Oktober 1958, Bank memulai kegiatan                           Bank started its operation as a commercial
          operasionalnya sebagai bank umum.                                bank.

          Nama Bank diubah menjadi PT Bank Kesawan                         The Bank’s name was changed to PT Bank
          berdasarkan Akta Perubahan Anggaran Dasar                        Kesawan based on the Deed of Articles
          No. 60 tanggal 10 Maret 1965 yang dibuat di                      of Association Amendment No. 60 dated March
          hadapan Ong Kiem Lian, SH, notaris di Jakarta.                   10, 1965 of Ong Kiem Lian, SH, notary public in
          Akta ini telah disahkan oleh Menteri Kehakiman                   Jakarta. This deed was approved by the
          Republik Indonesia (sekarang Menteri Hukum                       Minister of Justice of the Republic of Indonesia
          dan Hak Asasi Manusia) dalam Surat                               (currently the Minister of Laws and Human
          Keputusan No. J.A.5/68/15 tanggal 3 Juli 1965                    Rights) in its Decree No.J.A.5/68/15 dated
          dan telah diumumkan dalam Berita Negara                          July 3, 1965 and was published in the State
          Republik       Indonesia     No. 95     tanggal                  Gazette of the Republic of Indonesia No. 95
          26 November 1965, Tambahan No. 95.                               dated November 26, 1965, Supplement No. 95.

          Perubahan status Bank dari Bank tertutup                         The change of the Bank’s status from a private
          menjadi Bank terbuka adalah berdasarkan Akta                     Bank to a public Bank was effected by the Deed
          Pernyataan     Keputusan     Rapat    Umum                       of Extraordinary Shareholders’ General
          Pemegang Saham Luar Biasa No. 22 tanggal                         Meeting No. 22 dated July 25, 2001 of Fathiah
          25 Juli 2001 yang dibuat dihadapan Fathiah                       Helmi, SH, notary public in Jakarta. This deed
          Helmi, SH, notaris di Jakarta. Akta ini telah                    was approved by the Minister of Justice of the
          memperoleh      persetujuan   dari   Menteri                     Republic of Indonesia dated December 27,
          Kehakiman Republik Indonesia tanggal                             2001      in     his    Decree      No.     C-
          27 Desember 2001 dengan Surat Keputusan                          20973.HT.01.04.TH.2001 and was published
          No.      C-20973.HT.01.04.TH.2001       serta                    into the State Gazette of the Republic of
          diumumkan dalam Berita Negara Republik                           Indonesia No. 75 dated September 17, 2002,
          Indonesia No. 75 tanggal 17 September 2002,                      Supplement No. 11113.
          Tambahan No. 11113.

          Dengan akuisisi saham Bank oleh Qatar                            Subsequently, following the acquisition of the
          National Bank (Q.P.S.C.) (dahulu Qatar                           Bank’s shares by Qatar National Bank
          National Bank SAQ) pada tanggal 26 Januari                       (Q.P.S.C.) (formerly Qatar National Bank SAQ)
          2011, nama Bank diubah menjadi PT Bank                           on January 26, 2011, the Bank’s name was
          QNB Kesawan Tbk berdasarkan Akta                                 changed into PT Bank QNB Kesawan Tbk
          Pernyataan     Keputusan       Rapat   Umum                      based on the Deed of Extraordinary
          Pemegang Saham Luar Biasa No. 23 tanggal                         Shareholders’ General Meeting No. 23 dated
          16 September 2011 yang dibuat di hadapan                         September 16, 2011 of Fathiah Helmi, SH,
          Fathiah Helmi, SH, notaris di Jakarta.                           notary public in Jakarta.




                                                            8
Page 189
                                                                      The original financial statements included herein are in
                                                                                                    the Indonesian language.

          PT BANK QNB INDONESIA TBK                                  PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                             NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                            As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                          for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                           (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                  unless otherwise stated)


1.   Umum (lanjutan)                                        1.   General (continued)

     a.   Pendirian dan Informasi Umum (lanjutan)                a.    Establishment and General Information
                                                                       (continued)

          Akta ini telah memperoleh persetujuan dari                   This deed was approved by the Minister of
          Menteri Hukum dan Hak Asasi Manusia                          Laws and Human Rights of the Republic of
          Republik    Indonesia  berdasarkan   Surat                   Indonesia in his Decree No. AHU-
          keputusan No. AHU-51180.AH.01.02 Tahun                       51180.AH.01.02 Year 2011 dated October 21,
          2011 tanggal 21 Oktober 2011 dan telah                       2011 and was announced in the State Gazette
          diumumkan dalam Berita Negara Republik                       of the Republic of Indonesia No. 93 dated
          Indonesia No. 93 tanggal 20 November 2012,                   November 20, 2012, Supplement No. 72137.
          Tambahan No. 72137.

          Selanjutnya nama bank berubah menjadi                        Subsequently, the bank’s name was changed
          PT Bank QNB Indonesia Tbk berdasarkan Akta                   into PT Bank QNB Indonesia Tbk based on The
          Pernyataan      Keputusan   Rapat   Umum                     deed of Minutes of Annual Shareholders’
          Pemegang Saham Tahunan No. 35 tanggal                        General Meeting No. 35 dated July 23, 2014.
          23 Juli 2014. Akta ini telah mendapat                        This deed was approved by the Minister of
          persetujuan Menteri Hukum dan Hak Asasi                      Laws and Human Rights of the Republic of
          Manusia     Republik    Indonesia  dengan                    Indonesia with the Deed No. AHU-
          keputusannya No. AHU-06136.40.20.2014                        06136.40.20.2014 dated July 24, 2014.
          tanggal 24 Juli 2014.

          Anggaran Dasar Bank telah mengalami                          The Bank’s Articles of Association has been
          beberapa kali perubahan. Perubahan terakhir                  amended several times. The latest amendment
          sebagaimana      dinyatakan   dalam    Akta                  was stated on the Deed of Statement of
          Pernyataan     Keputusan     Rapat    Umum                   Extraordinary General Meeting of Shareholders
          Pemegang Saham Luar Biasa No. 56 tanggal                     No. 56 dated May 30, 2023, drawn up before
          30 Mei 2023, yang dibuat dihadapan Fathiah                   Fathiah Helmi, S.H., Notary in Jakarta. This
          Helmi, SH, notaris di Jakarta. Perubahan                     deed has received Notification of Amendment
          Anggaran Dasar Bank tersebut telah diterima                  to the Articles of Articles of Association from the
          dan dicatat dalam Sistem Administrasi Badan                  Ministry of Law and Human Rights of the
          Hukum Kementerian Hukum dan Hak Asasi                        Republic of Indonesia No. AHU-AH.01.03.
          Manusia Republik Indonesia No. AH.01.03.                     0073631 dated June 8, 2023.
          0073631 tanggal 8 Juni 2023.

          Sesuai dengan pasal 3 Anggaran Dasar Bank,                   According to article 3 of the Bank’s Articles of
          ruang   lingkup   kegiatan Bank     adalah                   Association, the scope of the Bank’s activities
          menjalankan kegiatan umum perbankan.                         is to engage in general banking business.

          Bank memperoleh persetujuan sebagai                          The Bank was granted a license as a Foreign
          Pedagang Valuta Asing berdasarkan Surat                      Exchange Trader based on the Decree of the
          Keputusan     Direksi    Bank    Indonesia                   Director of Bank Indonesia No. 28/366/UD/Adv
          No. 28/366/UD/Adv tanggal 4 Desember 1995.                   dated December 4, 1995.

          Bank memperoleh persetujuan menjadi Bank                     The Bank was granted a license to conduct
          Devisa berdasarkan Surat Keputusan Direksi                   foreign exchange activities based on the
          Bank Indonesia No. 28/150/KEP/DIR tanggal                    Decree of the Director of Bank Indonesia
          22 Februari 1996.                                            No. 28/150/KEP/DIR dated February 22, 1996.

          Bank memperoleh persetujuan menjadi Bank                     The Bank was granted a license as a National
          Persepsi Kas Negara berdasarkan Surat                        Cash Perception Bank based on the Decree of
          Keputusan Menteri Keuangan Republik                          the Minister of Finance of the Republic of
          Indonesia   No.S-452/MK.03/1996   tanggal                    Indonesia No. S-452/MK.03/1996 dated August
          16 Agustus 1996.                                             16, 1996.




                                                        9
Page 190
                                                                           The original financial statements included herein are in
                                                                                                         the Indonesian language.

          PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                       unless otherwise stated)


1.   Umum (lanjutan)                                             1.   General (continued)

     a.   Pendirian dan Informasi Umum (lanjutan)                     a.    Establishment and General Information
                                                                            (continued)

          Kantor Pusat Bank berlokasi di Revenue Tower,                     The Bank’s head office is located at Revenue
          District 8, SCBD Lot 13, Jalan Jendral Sudirman                   Tower, District 8, SCBD Lot 13, Jalan Jendral
          Kavling 52-53, Jakarta. Pada 31 Desember                          Sudirman Kavling 52-53, Jakarta. As of
          2023, Bank mempunyai 1 kantor pusat non-                          December 31, 2023, Bank has 1 non-
          operasional, 6 kantor cabang, 2 kantor cabang                     operational head office, 6 branch offices, 2 sub-
          pembantu, 2 kantor fungsional dan 11 ATM di                       branch offices, 2 functional office and 11 ATMs
          seluruh Indonesia. Pada 31 Desember 2022,                         across Indonesia. As of December 31, 2022,
          Bank mempunyai 1 kantor pusat non-                                Bank has 1 non-operational head office, 7
          operasional, 7 kantor cabang, 2 kantor cabang                     branch offices, 2 sub-branch offices and 12
          pembantu dan 12 ATM di seluruh Indonesia.                         ATMs across Indonesia.

          Pada tanggal 31 Desember 2023 dan 2022,                           As of December 31, 2023 and 2022 the Bank
          Bank memiliki masing-masing 401 dan 402                           had 401 and 402 employees (unaudited),
          karyawan (tidak diaudit).                                         respectively.

          Bank, melalui pemegang saham mayoritasnya,                        The Bank, through its majority shareholder,
          Qatar National Bank (Q.P.S.C.), merupakan                         Qatar National Bank (Q.P.S.C.), is ultimately
          bagian dari Qatar National Bank Group. Qatar                      part of the Qatar National Bank Group. The
          National Bank Group memiliki anak perusahaan                      Qatar National Bank Group has subsidiaries
          dan afiliasi di seluruh dunia.                                    and affiliates throughout the world.

     b.   Penawaran Umum Saham Bank                                   b.    Public Offering of the Bank's Shares

          Pada tanggal 31 Oktober 2002, Bank                                On October 31, 2002, the Bank obtained the
          memperoleh Pernyataan Efektif dari Ketua                          Effective Notification from the Chairman of the
          Badan Pengawas Pasar Modal (Bapepam)                              Capital Market Supervisory Agency (Bapepam)
          berdasarkan         Surat        Keputusan                        through its Decree No. S-2369/PM/2002 in
          No. S-2369/PM/2002 dalam rangka penawaran                         relation to the public offering of its 78,800,000
          umum atas 78.800.000 lembar saham Bank                            shares with par value and at the offering price
          dengan nilai nominal dan harga penawaran                          of Rp250 (in full Rupiah) per share. The Bank’s
          sebesar Rp250 (dalam Rupiah penuh) per                            shares were traded in Jakarta Stock Exchange
          saham. Saham Bank tersebut diperdagangkan                         starting November 21, 2002. (On November 30,
          di Bursa Efek Jakarta mulai tanggal                               2007, Jakarta Stock Exchange and Surabaya
          21 November      2002.     (Pada    tanggal                       Stock Exchange were merged to form
          30 November 2007, Bursa Efek Jakarta dan                          Indonesia Stock Exchange).
          Bursa Efek Surabaya telah bergabung menjadi
          Bursa Efek Indonesia).

          Dalam penawaran umum saham ini dikeluarkan                        These new shares were furnished by Warrants
          pula Waran Seri I (waran) yang diberikan                          Series I (warrant), which were granted to the
          secara cuma-cuma kepada pemegang saham                            new shareholders as a compliment. Each holder
          baru. Setiap pemegang 2 saham baru Bank                           of 2 Bank’s new shares received 3 warrants;
          memperoleh 3 waran, sehingga jumlah waran                         accordingly, the total number of warrants issued
          yang diterbitkan adalah sebanyak 118.200.000                      was 118,200,000 warrants. Each warrant
          lembar. Setiap 1 waran memberikan hak                             entitled the holder to buy 1 Bank’s new share at
          kepada pemegang waran untuk membeli 1                             the exercise price. The execution period was
          saham baru Bank pada harga pelaksanaannya.                        from May 21, 2003 to November 18, 2005. Up
          Jangka waktu pelaksanaan waran yang                               to the last exercise date on November 18, 2005,
          diterbitkan adalah sejak tanggal 21 Mei 2003                      the number of exercised warrants was
          sampai dengan tanggal 18 November 2005.                           101,219,000 warrants at exercise price of
          Sampai dengan tanggal pelaksanaan terakhir                        Rp250 (in full Rupiah) or amounting to
          yaitu tanggal 18 November 2005, waran yang                        Rp25,305.
          telah     dilaksanakan    adalah    sebanyak
          101.219.000 waran pada harga pelaksanaan
          Rp250 (dalam Rupiah penuh) atau seluruhnya
          sebesar Rp25.305.

                                                            10
Page 191
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


1.   Umum (lanjutan)                                            1.   General (continued)

     b.   Penawaran Umum Saham Bank (lanjutan)                       b.    Public Offering of the Bank's Shares
                                                                           (continued)

          Pada tanggal 15 Juni 2009, Bank memperoleh                       On June 15, 2009, the Bank obtained the
          Pernyataan Efektif dari Ketua Badan Pengawas                     Effective Notification from the Chairman of the
          Pasar Modal dan Lembaga Keuangan                                 Capital Market Supervisory Agency and
          (Bapepam-LK) berdasarkan Surat Keputusan                         Financial Institutions (Bapepam-LK) through its
          No.S-5209/BL/2009 dalam rangka Penawaran                         Decree No. S-5209/BL/2009 in relation to the
          Umum Terbatas I (PUT I) dengan menerbitkan                       First Limited Public Offering (PUT I) by
          Hak Memesan Efek Terlebih Dahulu (HMETD)                         conducting the Rights Issue (HMETD)
          sejumlah 125.304.750 saham dengan nilai                          amounting to 125,304,750 shares with par
          nominal Rp250 (dalam Rupiah penuh) per                           value of Rp250 (in full Rupiah) per share at an
          saham yang ditawarkan dengan harga Rp320                         offering price of Rp320 (in full Rupiah) per
          (dalam Rupiah penuh) per saham.                                  share.

          Setelah PUT I, modal ditempatkan dan disetor                     After the PUT I, the Bank’s issued and fully paid
          Bank meningkat menjadi 626.523.750 lembar                        capital increased to 626,523,750 shares or
          saham atau senilai Rp156.631.                                    Rp156,631.

          Pada tanggal 27 Desember 2010, Bank                              On December 27, 2010, the Bank obtained the
          memperoleh Pernyataan Efektif dari Ketua                         Effective Notification from the Chairman of
          Bapepam-LK berdasarkan Surat Keputusan                           Bapepam-LK through its Decree No. S-
          No.    S-11585/BL/2010   dalam      rangka                       11585/BL/2010 in relation to the Second
          Penawaran Umum Terbatas II (PUT II) dengan                       Limited Public Offering (PUT II) by conducting
          menerbitkan Hak Memesan Efek Terlebih                            the Rights Issue (HMETD) amounting to
          Dahulu (HMETD) sejumlah 2.935.263.768                            2,935,263,768 shares with par value and at the
          saham dengan nilai nominal dan harga                             offering price of Rp250 (in full Rupiah) per
          penawaran sebesar Rp250 (dalam Rupiah                            share.
          penuh) per saham.

          Setelah PUT II, modal ditempatkan dan disetor                    After the PUT II, the Bank’s issued and fully
          Bank meningkat menjadi 3.561.787.518 lembar                      paid capital increased to 3,561,787,518 shares
          saham atau senilai Rp890.447.                                    or Rp890,447.

          Pada tanggal 27 Mei 2013, Bank memperoleh                        On May 27, 2013, the Bank obtained the
          Pernyataan Efektif dari Otoritas Jasa Keuangan                   Effective Notification from Otoritas Jasa
          (“OJK”)   berdasarkan       Surat    Keputusan                   Keuangan (“OJK”) through its Decree No. S-
          No. S-141/D.04/2013 dalam rangka Penawaran                       141/D.04/2013 in relation to the Third Limited
          Umum Terbatas III (PUT III) dengan                               Public Offering (PUT III) by conducting the
          menerbitkan Hak Memesan Efek Terlebih                            Rights Issue (HMETD) amounting to
          Dahulu (HMETD) sejumlah 2.596.543.000                            2,596,543,000 shares with par value and at the
          saham dengan nilai nominal dan harga                             offering price of Rp250 (in full Rupiah) per
          penawaran sebesar Rp250 (dalam Rupiah                            share.
          penuh) per saham.

          Setelah PUT III, modal ditempatkan dan disetor                   After the PUT III, the Bank’s issued and fully
          Bank meningkat menjadi 6.158.330.518 lembar                      paid capital increased to 6,158,330,518 shares
          saham atau senilai Rp1.539.583.                                  or Rp1,539,583.




                                                           11
Page 192
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


1.   Umum (lanjutan)                                            1.   General (continued)

     b.   Penawaran Umum Saham Bank (lanjutan)                       b.    Public Offering of the Bank's Shares
                                                                           (continued)

          Pada tanggal 2 Juni 2014, Bank memperoleh                        On June 2, 2014, the Bank obtained the
          Pernyataan Efektif dari Otoritas Jasa Keuangan                   Effective Notification from Financial Service
          (OJK)    berdasarkan       Surat     Keputusan                   Authority    (OJK)     through    its  Decree
          No. S-253/D.04/2014 dalam rangka Penawaran                       No. S-253/D.04/2014 in relation to the fourth
          Umum Terbatas IV (PUT IV) dengan                                 Limited Public Offering (PUT IV) by conducting
          menerbitkan Hak Memesan Efek Terlebih                            the Rights Issue (HMETD) amounting to
          Dahulu (HMETD) sejumlah 2.598.815.479                            2,598,815,479 shares with par value and at the
          saham dengan nilai nominal dan harga                             offering price of Rp250 (in full Rupiah) per
          penawaran sebesar Rp250 (dalam Rupiah                            share.
          penuh) per saham.

          Setelah PUT IV, modal ditempatkan dan disetor                    After the PUT IV, the Bank’s issued and fully
          Bank meningkat menjadi 8.757.145.997 lembar                      paid capital increased to 8,757,145,997 shares
          saham atau senilai Rp2.189.287.                                  or Rp2,189,287.

          Pada tanggal 20 Juni 2017, Bank memperoleh                       On June 20, 2017, the Bank obtained the
          Pernyataan Efektif dari OJK berdasarkan Surat                    Effective Notification from OJK through its
          Keputusan No. S-330/D.04/2017 dalam rangka                       Decree No. S-330/D.04/2017 in relation to the
          Penawaran Umum Terbatas V (PUT V) dengan                         fifth Limited Public Offering (PUT V) by
          menerbitkan Hak Memesan Efek Terlebih                            conducting the Rights Issue (HMETD) of
          Dahulu (HMETD) sejumlah 8.235.719.252                            8,235,719,252 shares with par value and at the
          saham dengan nilai nominal dan harga                             offering price of Rp250 (in full Rupiah) per
          penawaran sebesar Rp250 (dalam Rupiah                            share.
          penuh) per saham.

          Setelah PUT V, modal ditempatkan dan disetor                     After the PUT V, the Bank’s issued and fully
          Bank meningkat menjadi 16.992.865.249                            paid capital increased to 16,992,865,249
          lembar saham atau senilai Rp4.248.216.                           shares or Rp4,248,216.

          Pada tanggal 22 Mei 2018, Bank memperoleh                        On May 22, 2018, the Bank obtained the
          Pernyataan Efektif dari OJK berdasarkan Surat                    Effective Notification from OJK through its
          Keputusan No. S-53/D.04/2018 dalam rangka                        Decree No. S-53/D.04/2018 in relation to the
          Penawaran Umum Terbatas VI (PUT VI)                              Limited Public Offering (PUT VI) by conducting
          dengan menerbitkan Hak Memesan Efek                              the Rights Issue (HMETD) of 3,786,010,377
          Terlebih    Dahulu      (HMETD)      sejumlah                    shares with par value and at the offering price
          3.786.010.377 saham dengan nilai nominal dan                     of Rp250 (in full Rupiah) per share.
          harga penawaran sebesar Rp250 (dalam
          Rupiah penuh) per saham.

          Setelah PUT VI, modal ditempatkan dan disetor                    After the PUT VI, the Bank’s issued and fully
          Bank meningkat menjadi 20.436.685.984                            paid capital increased to 20,436,685,984
          lembar saham atau senilai Rp5.109.171.                           shares or Rp5,109,171.

          Pada tanggal 28 April 2023, Bank memperoleh                      On April 28, 2023, the Bank obtained the
          Pernyataan Efektif dari OJK berdasarkan Surat                    effective notification from OJK through its
          Keputusan No. S-109/D.04/2023 dalam rangka                       Decree No. S-109/D.04/2023 in relation to the
          Penawaran Umum Terbatas VII (PUT VII)                            Limited Public Offering VII (PUT VII) by
          dengan menerbitkan Hak Memesan Efek                              conducting the Rights Issue (HMETD) of
          Terlebih    Dahulu      (HMETD)      sejumlah                    14,721,362,381 shares with par value and the
          14.721.362.381 saham dengan nilai nominal                        offering price of Rp250 (in full Rupiah) per
          dan harga penawaran sebesar Rp250 (dalam                         share.
          Rupiah penuh) per saham.




                                                           12
Page 193
                                                                                          The original financial statements included herein are in
                                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                       unless otherwise stated)


1.   Umum (lanjutan)                                                            1.   General (continued)

     b.   Penawaran Umum Saham Bank (lanjutan)                                       b.     Public Offering of the Bank's Shares
                                                                                            (continued)

          Setelah PUT VII, modal ditempatkan dan                                            After the PUT VII, the Bank’s issued and fully
          disetor    Bank     meningkat   menjadi                                           paid capital increased to 35,158,048,365 shares
          35.158.048.365 lembar saham atau senilai                                          or Rp8,789,512.
          Rp8.789.512.

     c.   Dewan Komisaris dan Direksi                                                c.     Board of Commissioners and Board of
                                                                                            Directors

          Susunan terakhir Dewan Komisaris dan Direksi                                      The latest composition of Board of
          dimuat dalam Akta Pernyataan Keputusan                                            Commissioners and Board of Directors are
          Rapat Umum Pemegang Saham Tahunan No.                                             stated in deed of Declaration of Resolution
          55 tanggal 30 Mei 2023 di hadapan Fathiah                                         Annual Shareholders’ General Meeting No. 55
          Helmi, SH, notaris di Jakarta. dan telah                                          dated May 30, 2023 of Fathiah Helmi, SH,
          memperoleh     Penerimaan   Pemberitahuan                                         notary public in Jakarta and has obtained
          Perubahan Data Bank dari Kementerian Hukum                                        receipt of Notification of the Data Change from
          dan Hak Asasi Manusia Republik Indonesia                                          the Minister of Laws and Human Rights of the
          No.AHU-AH.01.09-0124394 tertanggal 31 Mei                                         Republic of Indonesia No.AHU-AH.01.09-
          2023.                                                                             0124394 dated May 31, 2023.

          Susunan Dewan Komisaris dan Direksi Bank                                          The composition of the Bank’s Board of
          pada tanggal 31 Desember 2023 dan 2022                                            Commissioners and Board of Directors as of
          adalah sebagai berikut:                                                           December 31, 2023 and 2022 are as follows:

                                                                         2023

          Dewan Komisaris                                                                                                  Board of Commissioners
          Komisaris Utama                                    Fatma Abdulla S S Al-Suwaidi                                    President Commissioner
          Komisaris Independen                                       Djoko Sarwono                                        Independent Commissioner
          Komisaris Independen                                  Muhammad Anas Malla                                       Independent Commissioner
          Komisaris                                           Khalid Ahmed KH A Al-Sada                                                Commissioner

          Direksi                                                                                                                     Board of Directors
          Direktur Utama                                           Haryanto Suganda                                                    President Director
          Direktur                                               Windiartono Tabingin                                                            Director
          Direktur                                         Nicolas Alix Groene (Nick Groene)                                                     Director
          Direktur                                             Soemenggrie Jongkamto                                                             Director


                                                                         2022

          Dewan Komisaris                                                                                                  Board of Commissioners
          Komisaris Utama                                    Fatma Abdulla S S Al-Suwaidi                                    President Commissioner
          Komisaris Independen                                       Djoko Sarwono                                        Independent Commissioner
          Komisaris Independen                                  Muhammad Anas Malla                                       Independent Commissioner
          Komisaris                                           Khalid Ahmed KH A Al-Sada                                                Commissioner

          Direksi                                                                                                                     Board of Directors
          Direktur Utama                                           Haryanto Suganda                                                    President Director
          Direktur                                                 Geoffry Nugraha*                                                              Director
          Direktur                                               Windiartono Tabingin                                                            Director
          Direktur                                         Nicolas Alix Groene (Nick Groene)                                                     Director
          Direktur                                             Soemenggrie Jongkamto                                                             Director

          * Pengunduran diri efektif tanggal 30 Mei 2023                                    * Resignation effective on May 30, 2023




                                                                         13
Page 194
                                                                                              The original financial statements included herein are in
                                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                          unless otherwise stated)


1.   Umum (lanjutan)                                                                1.   General (continued)

     d.   Komite-Komite Bank                                                             d.    The Bank’s Committees

          Susunan Komite-komite Bank pada tanggal                                              The composition of the Bank’s Committees as
          31 Desember 2023 dan 2022 adalah sebagai                                             of December 31, 2023 and 2022, are as follows:
          berikut:

                                                                             2023

          Komite Audit                                                                                                                  Audit Committee
          Ketua                                                Muhammad Anas Malla                                                             Chairman
          Anggota                                                 Heru Subroto*                                                                 Member
          Anggota                                           Achmad Effendy Abdurachman                                                          Member

          Komite Pemantau Risiko                                                                                           Risk Oversight Committee
          Ketua                                                    Djoko Sarwono                                                           Chairman
          Anggota                                                 Tjetjep Hasmitha                                                          Member
          Anggota                                            Ahmad Effendy Abdurachman                                                      Member

          Komite Remunerasi dan                                                                                       Nomination and Remuneration
          Nominasi                                                                                                                     Committee
          Ketua                                                 Muhammad Anas Malla                                                     Chairman
          Anggota                                             Khalid Ahmed KH A Al-Sada                                                   Member
          Anggota                                                    Ruth Theresia*                                                      Member

          * Heru Subroto diangkat sebagai anggota Komite Audit berdasarkan                     * Heru Subroto has appointed as a member of the Bank’s Audit
            Surat Keputusan Direksi No. 030/SK-DIR/VI/2023 tanggal 5 Juni                        Committee based on Board of Directors Decree No. 030/SK-
            2023                                                                                 DIR/VI/2023 dated June 5, 2023
          * Ruth Theresia diangkat sebagai anggota Komite Remunerasi dan                       * Ruth Theresia has appointed as a member of the Bank’s Nomination
            Nominasi berdasarkan Surat Keputusan Direksi 001/SK-DIR/I/2023                       and Remuneration Committee based on Board of Directors Decree
            tanggal 2 Januari 2023                                                               No. 001/SK-DIR/I/2023 dated January 2, 2023

                                                                             2022

          Komite Audit                                                                                                                  Audit Committee
          Ketua                                                Muhammad Anas Malla                                                             Chairman
          Anggota                                             Bambang Eko Priyantono                                                            Member
          Anggota                                           Achmad Effendy Abdurachman                                                          Member

          Komite Pemantau Risiko                                                                                           Risk Oversight Committee
          Ketua                                                    Djoko Sarwono                                                           Chairman
          Anggota                                                 Tjetjep Hasmitha                                                          Member
          Anggota                                              Bambang Eko Priyantono                                                       Member
          Anggota                                            Ahmad Effendy Abdurachman                                                      Member

          Komite Remunerasi dan                                                                                       Nomination and Remuneration
          Nominasi                                                                                                                     Committee
          Ketua                                                 Muhammad Anas Malla                                                     Chairman
          Anggota                                             Khalid Ahmed KH A Al-Sada                                                   Member
          Anggota                                               Nugrahaini Mulyasari*                                                    Member

          * Mengundurkan diri efektif pada tanggal 31 Desember 2022                            * Resignation effective on December 31, 2022


     e.   Sekretaris Perusahaan                                                          e.    Corporate Secretary

          Sekretaris Perusahaan   pada    tanggal                                              The Corporate Secretary as of December 31,
          31 Desember 2023 dan 2022 adalah Indah                                               2023 and 2022 is Indah Mathilda.
          Mathilda.

     f.   Kepala Satuan Kerja Audit Internal (SKAI)                                      f.    Head of Internal Audit

          Chief Auditor pada tanggal 31 Desember 2023                                          The Chief Auditor as of December 31, 2023 and
          dan 2022 adalah Romy Yulianto Santoso.                                               2022 is Romy Yulianto Santoso.




                                                                             14
Page 195
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi Material                      2.   Summary of Material Accounting Policies

     Kebijakan-kebijakan akuntansi yang material, yang               The material accounting policies, applied in the
     diterapkan dalam penyusunan laporan keuangan                    preparation of the Bank’s financial statements as of
     Bank pada tanggal dan tahun yang berakhir                       and for the year ended December 31, 2023 and
     31 Desember 2023 dan 2022, adalah sebagai                       2022, are as follows:
     berikut:

     a.   Pernyataan Kepatuhan                                       a.    Statement of Compliance

          Laporan keuangan Bank disusun dan disajikan                      The Bank’s financial statements have been
          sesuai dengan Standar Akuntansi Keuangan                         prepared and presented in accordance with
          (“SAK”) di Indonesia.                                            Indonesian Financial Accounting Standards
                                                                           (“SAK”).

          Laporan keuangan juga disusun dan disajikan                      The financial statements have also been
          sesuai dengan peraturan Badan Pengawas                           prepared and presented in accordance with
          Pasar Modal dan Lembaga Keuangan                                 Capital Market and Financial Institutions
          (“BAPEPAM-LK”, yang fungsinya dialihkan                          Supervisory Agency (“BAPEPAM-LK”, whose
          kepada OJK sejak tanggal 1 Januari 2013)                         function has been transferred to OJK starting
          No. VIII.G.7 tanggal 25 Juni 2012, Lampiran                      January 1, 2013) rule No. VIII.G.7 dated June
          Keputusan Ketua Bapepam-LK No. Kep-                              25, 2012, Annex to the Decree of the Chairman
          347/BL/2012      tentang   “Penyajian   dan                      of    Bapepam-LK       No.    Kep-347/BL/2012
          Pengungkapan Laporan Keuangan Emiten atau                        regarding “Financial Statements Presentation
          Perusahaan Publik”.                                              and Disclosure of the Issuer or Public Bank”.

     b.   Dasar Penyusunan Laporan Keuangan                          b.    Basis for          Preparation       of    Financial
                                                                           Statements

          Laporan keuangan ini disajikan dalam Rupiah,                     Figures in these financial statements are
          yang merupakan mata uang fungsional Bank.                        presented in Rupiah, which is the Bank’s
          Kecuali dinyatakan secara khusus, informasi                      functional currency. Unless otherwise stated,
          keuangan yang disajikan telah dibulatkan                         financial information presented in Rupiah has
          menjadi jutaan Rupiah.                                           been rounded to the nearest million.

          Laporan keuangan disusun atas basis akrual                       The financial statements have been prepared
          dengan menggunakan konsep nilai historis,                        on the accrual basis using the historical cost
          kecuali jika standar akuntansi mensyaratkan                      concept, except where the accounting
          pengukuran nilai wajar.                                          standards require fair value measurement.

          Laporan arus kas menyajikan perubahan dalam                      The statement of cash flows present the
          kas dan setara kas dari aktivitas operasi,                       changes in cash and cash equivalents from
          investasi dan pendanaan. Laporan arus kas                        operating, investing and financing activities.
          disusun dengan metode langsung. Untuk tujuan                     The statement of cash flows are prepared using
          laporan arus kas, kas dan setara kas meliputi                    the direct method. For the purpose of the
          kas, giro pada Bank Indonesia, giro pada bank                    statement of cash flows, cash and cash
          lain, penempatan pada Bank Indonesia dan                         equivalents consist of cash, current accounts
          bank lain yang jatuh tempo dalam waktu tiga                      with Bank Indonesia, current accounts with
          bulan sejak tanggal perolehan, sepanjang tidak                   other banks, placements with Bank Indonesia
          digunakan sebagai jaminan atas pinjaman yang                     and other banks that mature within three
          diterima serta tidak dibatasi penggunaannya.                     months from the date of acquisition, as long as
                                                                           they are not being pledged as collateral for
                                                                           borrowing nor restricted.




                                                           15
Page 196
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     c.   Penggunaan Pertimbangan, Estimasi dan                        c.    Use of Judgments,                 Estimates       and
          Asumsi                                                             Assumptions

          Penyusunan laporan keuangan sesuai dengan                          The preparation of financial statements in
          SAK di Indonesia mengharuskan manajemen                            conformity with SAK requires Bank’s
          Bank untuk membuat pertimbangan, estimasi                          management to make judgments, estimates
          dan asumsi yang mempengaruhi penerapan                             and assumptions that affect the application of
          kebijakan akuntansi dan jumlah aset, liabilitas,                   accounting policies and the reported amounts
          pendapatan dan beban yang dilaporkan.                              of assets, liabilities, income and expenses.

          Walaupun estimasi ini dibuat berdasarkan                           Although these estimates are based on
          pengetahuan terbaik manajemen atas kejadian                        management’s best knowledge of current
          dan kegiatan saat ini, hasil aktual dapat                          events and activities, actual results may differ
          berbeda dari estimasi tersebut.                                    from those estimates.

          Estimasi dan asumsi yang digunakan ditelaah                        Estimates and underlying assumptions are
          secara berkesinambungan. Revisi atas                               reviewed on an ongoing basis. Revisions to
          estimasi akuntansi diakui pada periode dimana                      accounting estimates are recognized in the
          estimasi tersebut direvisi dan periode-periode                     periods in which the estimate is revised and in
          yang akan datang yang dipengaruhi oleh revisi                      any future periods affected.
          estimasi tersebut.

          Informasi mengenai hal-hal material yang                           Information about material areas of estimation
          terkait dengan ketidakpastian estimasi dan                         uncertainty and critical judgments in applying
          pertimbangan-pertimbangan material dalam                           accounting policies that have material effect on
          penerapan kebijakan akuntansi yang memiliki                        the amount recognized in the financial
          dampak yang signifikan terhadap jumlah yang                        statements are described in Note 4.
          diakui dalam laporan keuangan dijelaskan di
          Catatan 4.

     d.   Penjabaran Transaksi dan Saldo dalam                         d.    Foreign   Currency            Transactions        and
          Valuta Asing                                                       Balances Translation

          Transaksi-transaksi dalam valuta asing                             Transactions in foreign currencies are
          dijabarkan ke dalam Rupiah, yang merupakan                         translated into Rupiah, the Bank’s functional
          mata uang fungsional Bank, dengan                                  currency, at the exchange rates prevailing at
          menggunakan kurs pada tanggal transaksi.                           the transaction date.

          Saldo akhir tahun aset moneter dan liabilitas                      Year-end balances of monetary assets and
          moneter dalam valuta asing dijabarkan ke                           liabilities denominated in foreign currencies are
          dalam Rupiah dengan menggunakan kurs pada                          translated into Rupiah using exchange rates as
          tanggal laporan (penutupan) yang ditetapkan                        of the reporting date (closing) as determined by
          oleh Bank Indonesia, yaitu kurs tengah yang                        Bank Indonesia, i.e middle rates which are the
          merupakan rata-rata kurs beli dan kurs jual                        average of buying rates and selling rates per
          berdasarkan Reuters pada pukul 16.00 WIB                           Reuters at 16.00 Western Indonesian Time.
          setiap hari.

          Keuntungan dan kerugian selisih kurs yang                          The exchange gains and losses arising from
          timbul dari transaksi dalam valuta asing dan                       transactions in foreign currencies and from the
          dari penjabaran aset moneter dan liabilitas                        translation of monetary assets and monetary
          moneter dalam valuta asing diakui pada laba                        liabilities denominated in foreign currencies are
          rugi.                                                              recognized in profit or loss.




                                                             16
Page 197
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.     Summary of            Material     Accounting       Policies
     (lanjutan)                                                          (continued)

     d.   Penjabaran Transaksi dan Saldo dalam                           d.    Foreign   Currency     Transactions                 and
          Valuta Asing (lanjutan)                                              Balances Translation (continued)

          Laba atau rugi kurs valuta asing atas aset dan                       The foreign currency gains or losses on
          liabilitas moneter merupakan selisih antara                          monetary assets and liabilities are the
          biaya perolehan diamortisasi dalam Rupiah                            difference between amortized cost in Rupiah at
          pada awal tahun, disesuaikan dengan tingkat                          the beginning of the year, adjusted for effective
          suku bunga efektif dan pembayaran selama                             interest rate and payments during the year, and
          tahun berjalan,      dan biaya perolehan                             the amortized cost in foreign currency
          diamortisasi dalam valuta asing yang                                 translated into Rupiah using the exchange rate
          dijabarkan ke dalam Rupiah dengan                                    at the end of the year.
          menggunakan kurs pada akhir tahun.

          Aset dan liabilitas non-moneter dalam mata                           Non-monetary        assets   and     liabilities
          uang asing dijabarkan dengan menggunakan                             denominated in foreign currencies are
          kurs pada tanggal transaksi.                                         translated using the exchange rates prevailing
                                                                               at the transaction date.

          Kurs valuta asing utama yang digunakan pada                          The major exchange rates used as of reporting
          tanggal pelaporan adalah sebagai berikut                             date, are as follows (in full Rupiah):
          (Rupiah penuh):

          Valuta asing                           2023             2022                                           Foreign currencies

          Poundsterling Inggris                     19.627             18.786                             Great Britain Poundsterling
          Euro Eropa                                17.038             16.582                                         European Euro
          Dolar Amerika Serikat                     15.397             15.568                                    United States Dollar
          Franc Swiss                               15.245             15.245                                            Swiss Franc
          Dolar Singapura                           11.676             11.593                                        Singapore Dollar
          Dolar Australia                           10.521             10.558                                        Australian Dollar
          Dolar Selandia Baru                        9.926              9.926                                    New Zealand Dollar
          Riyal Qatar                                4.224              4.271                                             Qatari Riyal
          Dolar Hong Kong                            1.971              1.997                                      Hong Kong Dollar
          Baht Thailand                                456                456                                           Thailand Baht
          Yen Jepang                                   109                118                                          Japanese Yen

     e.   Transaksi dengan Pihak-pihak Berelasi                          e.    Transactions with Related Parties

          Dalam laporan keuangan ini, istilah pihak-pihak                      In these financial statements, the term related
          berelasi digunakan sesuai dengan PSAK 7                              parties is used as defined in PSAK 7 regarding
          mengenai       “Pengungkapan        Pihak-pihak                      “Related Party Disclosures”, the meaning of a
          Berelasi”, yang dimaksud dengan pihak yang                           related party is a person or entity that is related
          berelasi adalah orang atau entitas yang berelasi                     to a reporting entity as follow:
          dengan entitas pelapor sebagai berikut:

          a.   Orang atau anggota keluarga terdekatnya                         a.    A person or a close member of that
               berelasi dengan entitas pelapor jika orang                            person’s family is related to a reporting
               tersebut:                                                             entity if that person:
               i. memiliki        pengendalian       atau                            i. has control or joint control over the
                    pengendalian bersama         terhadap                                 reporting entity;
                    entitas pelapor;
               ii. memiliki pengaruh signifikan terhadap                             ii.    has significant influence over the
                    entitas pelapor; atau                                                   reporting entity; or
               iii. merupakan personal manajemen                                     iii.   is member of the key management
                    kunci entitas pelapor atau entitas                                      personnel of the reporting entity or a
                    induk pelapor.                                                          parent of the reporting entity.




                                                             17
Page 198
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of             Material     Accounting     Policies
     (lanjutan)                                                          (continued)

     e.   Transaksi    dengan     Pihak-pihak     Berelasi               d.    Transactions           with     Related       Parties
          (lanjutan)                                                           (continued)

          b. Suatu entitas berelasi dengan entitas                             b.    An entity is related to a reporting entity if
             pelapor jika memenuhi hal-hal sebagai                                   any of the following conditions applies:
             berikut:
             i. entitas dan entitas pelapor adalah                                   i.     the entity and the reporting entity are
                   anggota dari kelompok usaha yang                                         member of the same the Bank (which
                   sama (artinya entitas induk, entitas                                     means that each parent, subsidiaries,
                   anak, dan entitas anak berikutnya                                        and fellow subsidiaries is related to the
                   terkait dengan entitas lain);                                            others);
             ii. satu entitas adalah entitas asosiasi                                ii.    one entity is an associate or joint
                   atau ventura bersama bagi entitas lain                                   venture of the other entity (or an
                   (atau entitas asosiasi atau ventura                                      associate or joint venture of member
                   bersama yang merupakan anggota                                           of a Bank of which the other entity is a
                   suatu kelompok usaha, di mana                                            member);
                   entitas     lain     tersebut     adalah
                   anggotanya);
             iii. kedua entitas tersebut adalah ventura                              iii.both entities are joint ventures of the
                   bersama dari pihak ketiga yang sama;                                  same third party;
             iv. satu entitas adalah ventura bersama                                 iv. one entity is a joint venture of a third
                   dari entitas ketiga dan entitas yang lain                             entity and the other entity is an
                   adalah entitas asosiasi dari entitas                                  associate of the third entity;
                   ketiga;
             v. entitas tersebut adalah suatu program                                v.     the entity is a post-employment benefit
                   imbalan pasca kerja untuk imbalan                                        plan for the benefit of employees of
                   kerja dari satu entitas pelapor atau                                     either the reporting entity or an entity
                   entitas yang terkait dengan entitas                                      related to the reporting entity. If the
                   pelapor. Jika entitas pelapor adalah                                     reporting entity in itself such a plan,
                   entitas    yang      menyelenggarakan                                    the sponsoring employers are also
                   program tersebut, maka entitas                                           related to the reporting entity.
                   sponsor juga berelasi dengan entitas
                   pelapor.
             vi. entitas yang dikendalikan atau                                      vi. the entity controlled or jointly
                   dikendalikan bersama oleh orang                                       controlled by a person identified in (a);
                   yang diidentifikasi dalam butir (a);
             vii. orang yang diidentifikasi, dalam butir                             vii. a person identified in (a) (i) has
                   (a) (i) memiliki pengaruh signifikan                                    significant influence over the entity or
                   terhadap entitas atau anggota                                           is a member of the key management
                   manajemen kunci entitas (atau entitas                                   personel of the entity (or of a parent of
                   induk dari entitas); atau                                               the entity); or
             viii. entitas, atau anggota dari kelompok                               viii. the entity, or any member of a group
                   dimana entitas merupakan bagian dari                                    of which it is a part, provides key
                   kelompok tersebut, menyediakan jasa                                     management personnel services to
                   personil manajemen kunci kepada                                         the reporting entity or to the parent of
                   entitas pelapor atau kepada entitas                                     the reporting entity.
                   induk dari entitas pelaporan.

          Semua transaksi yang signifikan dengan pihak-                        All significant transaction with related parties,
          pihak berelasi, baik dilakukan dengan                                whether or not conducted under normal terms
          menggunakan syarat dan kondisi normal                                and conditions as those with third parties, are
          maupun tidak, diungkapkan dalam Catatan 38.                          disclosed in Note 38.




                                                               18
Page 199
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                      2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                           (continued)

     f.   Aset dan Liabilitas Keuangan                                    f.    Financial Assets and Liabilities

          Aset keuangan Bank terutama terdiri dari kas,                         The Bank’s financial assets mainly consist of
          giro pada Bank Indonesia, giro pada bank lain,                        cash, current accounts with Bank Indonesia,
          penempatan pada Bank Indonesia dan bank                               current accounts with other banks, placements
          lain, tagihan derivatif, tagihan akseptasi, efek-                     with Bank Indonesia and other banks,
          efek yang dibeli dengan janji dijual kembali,                         derivative receivables, acceptance receivables,
          kredit yang diberikan, efek-efek dan aset lain-                       securities purchased under agreements to
          lain.                                                                 resell, loans, securities and other assets.

          Liabilitas keuangan Bank terutama terdiri dari                        The Bank’s financial liabilities mainly consist of
          liabilitas segera, simpanan dari nasabah,                             liabilities payable on demand, deposits from
          simpanan dari bank lain, liabilitas akseptasi,                        customers, deposits from other banks,
          liabilitas derivatif, pinjaman yang diterima, efek-                   acceptance payables, derivative payables,
          efek yang diterbitkan, beban masih harus                              borrowing, marketables securities issued,
          dibayar dan liabilitas lain-lain.                                     accruals and other liabilities.

          Bank menerapkan PSAK 71, “Instrumen                                   The Bank adopted PSAK 71, “Financial
          Keuangan” yang menggantikan PSAK 55,                                  Instruments” which replaced PSAK 55,
          “Instrumen   Keuangan: Pengakuan dan                                  “Financial Instruments: Recognition and
          Pengukuran”.                                                          Measurement”.

          (i)   Klasifikasi                                                     (i)   Classification

                Bank       mengklasifikasikan         aset                            The Bank classifies its financial assets
                keuangannya      berdasarkan      kategori                            according to the following categories at
                sebagai berikut pada saat pengakuan                                   initial recognition:
                awal:
                1. Aset keuangan yang diukur pada nilai                               1.   Financial assets measured at fair
                    wajar melalui laba rugi;                                               value through profit or loss;
                2. Aset keuangan yang diukur pada nilai                               2.   Financial assets measured at fair
                    wajar       melalui      penghasilan                                   value through other comprehensive
                    komprehensif lain;                                                     income;
                3. Aset keuangan yang diukur pada                                     3.   Financial   assets      measured at
                    biaya perolehan diamortisasi.                                          amortized cost.

                Model bisnis merefleksikan bagaimana                                  The business model reflects how groups of
                kelompok aset keuangan dikelola untuk                                 financial assets are managed to achieve a
                mencapai tujuan bisnis tertentu.                                      particular business objective.




                                                                19
Page 200
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                      f.    Financial Assets and Liabilities (continued)

          (i)   Klasifikasi (lanjutan)                                       (i)   Classification (continued)

                Bank melakukan pengujian karakteristik                             The Bank assess the contractual cash flow
                arus kas kontraktual dari aset keuangan                            characteristics of financial assets to
                yang     dikelola    untuk    mengetahui                           determine the characteristics of contractual
                karakteristik arus kas kontraktual berasal                         cash flows only from the payment of
                hanya dari pembayaran pokok dan bunga                              principal and interest from the outstanding
                dari jumlah pokok terutang (Solely                                 principal (Solely Payment of Principal and
                Payment of Principal and Interest atau                             Interest or Pass SPPI) that is consistent
                Pass SPPI) yang konsisten dengan                                   with basic lending agreement. In making
                pengaturan pinjaman dasar (Basic Lending                           the assessment, the Bank considers:
                Agreement). Dalam melakukan penilaian,
                Bank mempertimbangkan:

                •   Imbalan untuk nilai waktu dari uang;                           •    The time value of money element of
                                                                                        interest;
                •   Leverage;                                                      •    Leverage;
                •   Variabilitas pada waktu dan jumlah                             •    Variability in timing or amount of cash
                    arus kas;                                                           flows;
                •   Instrumen yang terkait secara                                  •    Contractually linked instruments;
                    kontraktual;
                •   Pembayaran dipercepat;                                         •    Early repayment;
                •   Ketentuan kontrak tidak sah dan de                             •    Non-genuine features and de minimis.
                    minimis.

                Aset keuangan diukur pada biaya                                    Financial assets are measured at
                perolehan diamortisasi jika kedua kondisi                          amortized cost if both of the following
                berikut terpenuhi:                                                 conditions are met:

                •   Aset keuangan yang dikelola dalam                              •    Financial assets are managed where
                    model bisnis yang bertujuan untuk                                   the business model objectives in order
                    memiliki aset keuangan dalam rangka                                 to collect the contractual cash flows;
                    mendapatkan arus kas kontraktual;                                   and
                    dan
                •   Arus kas kontraktual tersebut semata                           •    The contractual cash flows are solely
                    dari pembayaran pokok dan bunga                                     payments of principal and interest
                    (SPPI).                                                             (SPPI).

                Aset keuangan diukur pada nilai wajar                              Financial assets are measured at fair value
                melalui penghasilan komprehensif lain                              through other comprehensive income
                (FVTOCI) jika kedua kondisi berikut:                               (FVTOCI) if both of the following conditions
                                                                                   are met:

                •   Aset keuangan yang dikelola untuk                              •    Financial assets are managed to
                    mendapatkan arus kas kontraktual                                    collect the contractual cash flows and
                    dan menjual aset keuangan; dan                                      sell the assets; and
                •   Arus kas kontraktual tersebut semata                           •    The contractual cash flows are solely
                    dari pembayaran pokok dan bunga                                     payments of principal and interest
                    (SPPI).                                                             (SPPI).




                                                             20
Page 201
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of            Material    Accounting       Policies
     (lanjutan)                                                          (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                        f.    Financial Assets and Liabilities (continued)

          (i)   Klasifikasi (lanjutan)                                         (i)   Classification (continued)

                Aset keuangan diklasifikasikan pada nilai                            Financial assets are measured at fair value
                wajar melalui laba rugi (FVTPL) jika tidak                           through profit or loss (FVTPL) if do not
                memenuhi kondisi yang disyaratkan untuk                              meet the conditions required to be
                diukur pada biaya perolehan diamortisasi                             measured at amortized cost or fair value
                atau nilai wajar melalui penghasilan                                 through other comprehensive income.
                komprehensif lain.

                Pada saat pengakuan awal, Bank dapat                                 At initial recognition, the Bank may make
                membuat pilihan yang tidak dapat                                     an irrevocable choice to present equity
                dibatalkan untuk menyajikan instrumen                                instruments that are not held for trading at
                ekuitas yang bukan dimiliki untuk                                    fair value through other comprehensive
                diperdagangkan pada nilai wajar melalui                              income.
                penghasilan komprehensif lain.

                Liabilitas keuangan diklasifikasikan ke                              Financial liabilities are classified into the
                dalam kategori sebagai berikut pada saat                             following categories at initial recognition:
                pengakuan awal:

                I.    Liabilitas keuangan yang diukur pada                           I.    Financial liabilities at fair value
                      nilai wajar melalui laporan laba rugi,                               through profit or loss, which has 2
                      yang memiliki 2 (dua) sub-klasifikasi,                               (two) sub-classifications, i.e. those
                      yaitu     liabilitas keuangan    yang                                designated as such upon initial
                      ditetapkan demikian pada saat                                        recognition and those classified as
                      pengakuan awal dan diklasifikasikan                                  held for trading;
                      dalam kelompok diperdagangkan;
                II.   Liabilitas keuangan lain. Liabilitas                           II.   Other financial liabilities. Other
                      keuangan lainnya merupakan liabilitas                                financial liabilities pertain to financial
                      keuangan yang tidak dimiliki untuk                                   liabilities that are not held for trading
                      dijual atau ditentukan sebagai nilai                                 nor designated as at fair value through
                      wajar melalui laba rugi saat                                         profit or loss upon recognition of the
                      pengakuan liabilitas.                                                liability.




                                                               21
Page 202
                                                                                       The original financial statements included herein are in
                                                                                                                     the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                   PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                           for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                   unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                             2.    Summary of           Material      Accounting      Policies
     (lanjutan)                                                                   (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                                 f.    Financial Assets and Liabilities (continued)

          (i)   Klasifikasi (lanjutan)                                                  (i)   Classification (continued)


                                                                                 Golongan
                            Kategori yang didefinisikan
                                                                          (ditentukan oleh Bank)/
                                  oleh PSAK 71/                                                                Subgolongan/Subclasses
                                                                          Class (as determined by
                          Category as defined by PSAK 71
                                                                                 the Bank)
                                         Aset keuangan yang
                                         diukur pada nilai wajar
                                         melalui laba rugi/
                                                                          Tagihan derivatif - Tidak terkait           lindung   nilai/Derivative
                                         Financial assets at fair
                                         value through profit or          receivables - Non hedging related
                                         loss

                                                                          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
                                                                          Efek-efek yang dibeli dengan janji dijual kembali/
                                         Aset keuangan yang               Securities purchased under agreements to resell
                                         diukur pada biaya                Tagihan akseptasi/Acceptance receivables
                     Aset keuangan/      perolehan yang                   Kredit yang diberikan/Loans
                     Financial           diamortisasi/                                                  Piutang bunga/
                     assets              Financial assets at                                            Interest receivables
                                         amortized cost                                                 Piutang lain-lain/
                                                                          Aset lain-lain/Other assets   Other receivables
                                                                                                        Piutang terkait transaksi ATM/
                                                                                                        Receivables related to ATM
                                                                                                        transaction
                                                                          Efek-efek/Securities
                                         Aset keuangan yang
                                         diukur pada nilai wajar
                                         melalui penghasilan
                                         komprehensif lain/
                                                                          Efek-efek/Securities
                                         Financial assets at fair
                                         value through other
                                         comprehensive income


                                         Liabilitas keuangan yang
                                         diukur pada nilai wajar
                                         melalui laba rugi/               Liabilitas derivatif/Derivative payables
                                         Financial liabilities at fair
                                         value through profit or loss

                                                                          Liabilitas segera/Liabilities payable on demand
                     Liabilitas                                           Simpanan dari nasabah/Deposits from customers
                     keuangan/
                                                                          Simpanan dari bank lain/Deposits from other banks
                     Financial
                                                                          Liabilitas akseptasi/Acceptance payables
                     liabilities         Liabilitas keuangan yang
                                                                          Efek-efek yang dijual dengan janji dibeli kembali/
                                         diukur     dengan        biaya
                                                                          Securities sold under repurchase agreements
                                         perolehan      diamortisasi/
                                                                          Beban yang masih harus dibayar/Accrued expenses
                                         Financial    liabilities    at
                                         amortized cost                                                    Utang bunga/Interest payables
                                                                          Liabilitas lain-lain/
                                                                                                           Setoran jaminan/Security
                                                                          Other liabilities
                                                                                                           deposits
                                                                          Efek-efek yang diterbitkan/Marketable securities issued
                                                                          Pinjaman yang diterima/Borrowing




                                                                    22
Page 203
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                 2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                      (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                    f.    Financial Assets and Liabilities (continued)

          (ii) Pengakuan awal                                              (ii) Initial recognition

              Bank pada awalnya mengakui kredit yang                             The Bank initially recognizes loans and
              diberikan serta simpanan diukur pada nilai                         deposits at fair value on the date of
              wajar pada tanggal perolehan.                                      origination.

              Pembelian dan penjualan aset keuangan                              Regular way purchases and sales of
              yang lazim (regular) diakui pada tanggal                           financial assets are recognized on the
              perdagangan dimana Bank memiliki                                   trade date at which the Bank commits to
              komitmen untuk membeli atau menjual                                purchase or sell the asset.
              aset tersebut.

              Semua aset dan liabilitas keuangan lainnya                         All other financial assets and liabilities are
              pada awalnya diakui pada tanggal                                   initially recognized on the trade date at
              perdagangan dimana Bank menjadi suatu                              which the Bank becomes a party to the
              pihak dalam ketentuan kontraktual                                  contractual provisions of the instrument.
              instrumen tersebut.

              Pada saat pengakuan awal, aset keuangan                            A financial asset or financial liability is
              atau liabilitas keuangan diukur pada nilai                         initially measured at fair value plus/minus
              wajar ditambah/dikurang (untuk instrumen                           (for financial instruments not subsequently
              keuangan yang tidak diukur pada nilai                              measured at fair value through profit or
              wajar melalui laba rugi setelah pengakuan                          loss) transaction costs that are directly
              awal) biaya transaksi yang dapat                                   attributable to the acquisition of financial
              diatribusikan secara langsung atas                                 asset or issue of financial liability. The
              perolehan aset keuangan atau penerbitan                            subsequent measurement of financial
              liabilitas keuangan. Pengukuran aset                               assets and financial liabilities depends on
              keuangan dan liabilitas keuangan setelah                           their classification.
              pengakuan       awal    tergantung   pada
              klasifikasi aset keuangan dan liabilitas
              keuangan tersebut.

              Biaya transaksi hanya meliputi biaya-biaya                         Transaction costs include only those costs
              yang dapat diatribusikan secara langsung                           that are directly attributable to the
              untuk perolehan suatu aset keuangan atau                           acquisition of a financial asset or issue of a
              penerbitan suatu liabilitas keuangan dan                           financial liability and are incremental costs
              merupakan biaya tambahan yang tidak                                that would not have been incurred if the
              akan terjadi apabila instrumen keuangan                            financial instrument had not been acquired
              tersebut tidak diperoleh atau diterbitkan.                         or issued. In the case of financial assets,
              Untuk aset keuangan, biaya transaksi                               transaction costs are added to the amount
              ditambahkan pada jumlah yang diakui                                recognized initially, while for financial
              pada awal pengakuan aset, sedangkan                                liabilities, transaction costs are deducted
              untuk liabilitas keuangan, biaya transaksi                         from the amount of debt recognized
              dikurangkan dari jumlah utang yang diakui                          initially.
              pada awal pengakuan liabilitas.

              Biaya transaksi tersebut diamortisasi                              Such transactions costs are amortized
              selama umur instrumen berdasarkan                                  over the terms of the instruments based on
              metode suku bunga efektif dan dicatat                              the effective interest method and are
              sebagai bagian dari pendapatan bunga                               recorded as part of interest income for
              untuk biaya transaksi sehubungan dengan                            transaction costs related to financial assets
              aset keuangan atau sebagai bagian dari                             or interest expenses for transaction costs
              beban bunga untuk biaya transaksi                                  related to financial liabilities.
              sehubungan dengan liabilitas keuangan.



                                                           23
Page 204
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                      2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                           (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                         f.    Financial Assets and Liabilities (continued)

          (iii) Pengukuran setelah pengakuan awal                               (iii) Subsequent measurement

              Biaya perolehan diamortisasi dari aset                                  The amortized cost of a financial asset or
              keuangan atau liabilitas keuangan adalah                                liability is the amount at which the financial
              jumlah aset atau liabilitas keuangan yang                               asset or liability is measured at initial
              diukur pada saat pengakuan awal,                                        recognition, minus principal repayments,
              dikurangi pembayaran pokok, ditambah                                    plus or minus the cumulative amortization
              atau dikurangi dengan amortisasi kumulatif                              using the effective interest method of any
              dengan menggunakan metode suku bunga                                    difference between the initial amount
              efektif yang dihitung dari selisih antara nilai                         recognized and the maturity amount,
              awal dan nilai jatuh temponya, dan                                      minus any allowance for impairment
              dikurangi cadangan kerugian penurunan                                   losses.
              nilai.

              Tingkat suku bunga efektif adalah suku                                  The effective interest rate is the rate that
              bunga yang secara tepat mendiskontokan                                  exactly discounts the estimated future cash
              estimasi arus kas di masa datang selama                                 flows through the expected life of the
              perkiraan umur dari aset keuangan atau                                  financial asset or financial liability (or,
              liabilitas keuangan (atau jika lebih tepat,                             where appropriate, a shorter period) to the
              digunakan periode yang lebih singkat)                                   net carrying amount at initial recognition.
              untuk memperoleh nilai tercatat bersih                                  When calculating the effective interest rate,
              pada saat pengakuan awal. Pada saat                                     the Bank estimates future cash flows
              menghitung tingkat suku bunga efektif,                                  considering all contractual terms of the
              Bank mengestimasi arus kas di masa                                      financial instrument, but does not consider
              mendatang dengan mempertimbangkan                                       any future credit losses.
              seluruh persyaratan kontraktual dalam
              instrumen keuangan tersebut, namun tidak
              mempertimbangkan kerugian kredit di
              masa mendatang.

              Perhitungan suku bunga efektif mencakup                                 The calculation of the effective interest rate
              biaya transaksi (Catatan 2f.ii) dan seluruh                             includes transaction costs (Note 2f.ii) and
              imbalan/provisi dan bentuk lain yang                                    all fees and points paid or received that are
              dibayarkan atau diterima yang merupakan                                 an integral part of the effective interest
              bagian tak terpisahkan dari suku bunga                                  rate.
              efektif.

              Aset keuangan dalam kelompok aset                                       Financial assets at fair value through other
              keuangan yang diukur pada nilai wajar                                   comprehensive income and financial
              melalui penghasilan komprehensif lain dan                               assets and financial liabilities at fair value
              aset keuangan dan liabilitas keuangan                                   through profit or loss are measured at fair
              yang diukur pada nilai wajar melalui laba                               value.
              rugi diukur pada nilai wajarnya.

              Aset keuangan kelompok biaya perolehan                                  Financial assets classified as amortized
              diamortisasi dan liabilitas keuangan                                    cost and other financial liabilities measured
              lainnya diukur pada biaya perolehan                                     at amortized cost using the effective
              diamortisasi  dengan       menggunakan                                  interest rate method.
              metode suku bunga efektif.




                                                                24
Page 205
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                      f.    Financial Assets and Liabilities (continued)

          (iv) Penghentian pengakuan                                         (iv) Derecognition

              Bank menghentikan pengakuan aset                                     The Bank derecognizes a financial asset
              keuangan pada saat hak kontraktual atas                              when the contractual rights to the cash
              arus kas yang berasal dari aset keuangan                             flows from the financial asset expire, or
              tersebut      kadaluwarsa,    atau    Bank                           when the Bank transfers the contractual
              mentransfer seluruh hak kontraktual untuk                            rights to receive the cash flows from the
              menerima arus kas dari aset keuangan                                 financial asset in a transaction in which
              dalam transaksi dimana Bank secara                                   substantially all the risks and rewards of
              substansial telah mentransfer seluruh                                ownership of the financial asset are
              risiko dan manfaat atas kepemilikan aset                             transferred. Any interest in the transferred
              keuangan yang ditransfer. Setiap hak atau                            financial assets that is created or retained
              liabilitas atas aset keuangan yang                                   by the Bank is recognized as a separate
              ditransfer yang timbul atau yang masih                               asset or liability.
              dimiliki oleh Bank diakui sebagai aset atau
              liabilitas secara terpisah.

              Dalam transaksi dimana Bank secara                                   In transactions in which the Bank neither
              substansial tidak memiliki atau tidak                                retains nor transfers substantially all the
              mentransfer seluruh risiko dan manfaat                               risks and rewards of ownership of a
              atas kepemilikan aset keuangan, Bank                                 financial asset, the Bank derecognizes the
              menghentikan pengakuan aset tersebut                                 asset if the Bank does not retain control
              jika Bank tidak lagi memiliki pengendalian                           over the asset. The rights and obligations
              atas aset tersebut. Hak dan kewajiban                                retained in the transfer are recognized
              yang timbul atau yang masih dimiliki dalam                           separately as assets or liabilities as
              transfer tersebut diakui secara terpisah                             appropriate. In transfers in which control
              sebagai aset atau liabilitas. Dalam transfer                         over the asset is retained, the Bank
              dimana pengendalian atas aset masih                                  continues to recognize the asset to the
              dimiliki, Bank tetap mengakui aset yang                              extent of its continuing involvement,
              ditransfer tersebut sebesar keterlibatan                             determined by the extent to which it is
              berkelanjutan,        dimana         tingkat                         exposed to changes in the value of the
              keberlanjutan Bank dalam aset yang                                   transferred asset.
              ditransfer adalah sebesar perubahan nilai
              aset yang ditransfer.

              Bank menghapusbukukan saldo aset                                     The Bank writes off a financial asset
              keuangan beserta cadangan kerugian                                   balance and any related allowance for
              penurunan nilai terkait, pada saat Bank                              impairment losses, when the Bank
              menentukan bahwa aset keuangan                                       determines that the financial assets are
              tersebut tidak dapat ditagih. Keputusan ini                          uncollectible. This determination is made
              diambil     setelah     mempertimbangkan                             after considering information such as the
              informasi     seperti    telah   terjadinya                          occurrence of significant changes in the
              perubahan      signifikan    pada     posisi                         financial position of the borrowers such
              keuangan debitur sehingga debitur                                    that the borrowers can no longer pay the
              tersebut tidak lagi dapat melunasi                                   obligation, or that proceeds from collateral
              kewajibannya, atau hasil penjualan agunan                            will not be sufficient to repay back the
              tidak akan cukup untuk melunasi seluruh                              entire exposure. Recoveries from financial
              eksposur. Penerimaan kembali aset                                    assets previously written-off, recognized in
              keuangan yang telah dihapusbukukan,                                  profit or loss, are presented as part of other
              yang diakui dalam laba rugi, disajikan                               income.
              sebagai bagian dari pendapatan lainnya.




                                                             25
Page 206
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                    2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                         (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                       f.    Financial Assets and Liabilities (continued)

          (iv) Penghentian pengakuan (lanjutan)                               (iv) Derecognition (continued)

              Bank menghentikan pengakuan liabilitas                                The Bank derecognizes a financial liability
              keuangan pada saat liabilitas yang                                    when its contractual obligations are
              ditetapkan dalam kontrak dilepaskan,                                  discharged, cancelled or expired.
              dibatalkan atau kadaluwarsa.

          (v) Saling hapus                                                    (v) Offsetting

              Aset keuangan dan liabilitas keuangan                                 Financial assets and financial liabilities are
              dapat saling hapus dan nilai bersihnya                                offset and the net amount is presented in
              disajikan dalam laporan posisi keuangan                               the statement of financial position when,
              jika, dan hanya jika Bank memiliki hak yang                           and only when, the Bank has a legal
              berkekuatan hukum untuk melakukan                                     enforceable right to offset the amounts and
              saling hapus atas jumlah yang telah diakui                            intends either to settle on a net basis or
              tersebut dan berniat untuk menyelesaikan                              realize the asset and settle the liability
              secara neto atau untuk merealisasikan                                 simultaneously.
              aset dan menyelesaikan liabilitasnya
              secara simultan.

              Pendapatan dan beban disajikan dalam                                  Income and expenses are presented on a
              jumlah bersih hanya jika diperkenankan                                net basis only when permitted by
              oleh standar akuntansi.                                               accounting standards.

          (vi) Reklasifikasi aset keuangan                                    (vi) Reclassification of financial assets

              Bank mereklasifikasi aset keuangan jiika                              The Bank reclassifies financial assets if
              dan hanya jika, model bisnis untuk                                    and only if, the business model for
              pengelolaan aset keuangan berubah.                                    managing financial assets changes.

              Reklasifikasi aset keuangan dari klasifikasi                          Reclassifications of financial assets from
              biaya perolehan yang diamortisasi ke                                  amortized cost classifications to fair value
              klasifikasi nilai wajar melalui laba rugi                             through profit or loss are recorded at fair
              dicatat sebesar nilai wajarnya. Selisih                               value. The difference between the
              antara nilai tercatat dengan nilai wajar                              recorded value and fair value is recognized
              diakui sebagai keuntungan atau kerugian                               in profit or loss on the statement of profit or
              pada laba rugi.                                                       loss and other comprehensive income.

              Reklasifikasi aset keuangan dari klasifikasi                          Reclassifications of financial assets from
              biaya perolehan yang diamortisasi ke                                  amortized cost classifications to fair value
              klasifikasi nilai wajar melalui penghasilan                           classifications       through          other
              komprehensif lain dicatat sebesar nilai                               comprehensive are recorded at their fair
              wajarnya.                                                             values.

              Reklasifikasi aset keuangan dari klasifikasi                          Reclassification of financial asseets from
              nilai    wajar      melalui       penghasilan                         fair value classification through other
              komprehensif lain ke klasifikasi nilai wajar                          comprehensive income to fair value
              melalui laba rugi dicatat pada nilai wajar.                           classification through profit or loss is
              Keuntungan atau kerugian yang belum                                   recorded at fair value. Unrealized gains or
              direalisasi direklasifikasi ke laba rugi.                             losses are reclassified to profit or loss.




                                                              26
Page 207
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     f.   Aset dan Liabilitas Keuangan (lanjutan)                      f.    Financial Assets and Liabilities (continued)

          (vi) Reklasifikasi aset keuangan (lanjutan)                        (vi) Reclassification       of   financial     assets
                                                                                  (continued)

              Reklasifikasi aset keuangan dari klasifikasi                         Reclassification of financial assets from fair
              nilai     wajar     melalui   penghasilan                            value classifications through other
              komprehensif lain ke klasifikasi biaya                               comprehensive income to the amortized
              perolehan yang diamortisasi dicatat pada                             cost classification is recorded at carrying
              nilai tercatat. Keuntungan atau kerugian                             value. Unrealized gains or losses is
              yang belum direalisasi dihapus dari ekuitas                          removed from equity and adjusted agains
              dan disesuaikan terhadap nilai wajar.                                the fair value.

              Reklasifikasi aset keuangan dari klasifikasi                         Reclassifications on financial assets from
              nilai wajar melalui laba rugi ke klasifikasi                         fair value classification through profit or
              nilai    wajar      melalui    penghasilan                           loss to fair value classification through
              komprehensif lain dicatat pada wajar.                                other comprehensive income are recorded
                                                                                   at fair value.

              Reklasifikasi aset keuangan dari klasifikasi                         Reclassification of financial assets from fair
              nilai wajar melalui laba rugi ke klasifikasi                         value classification through profit or loss to
              biaya perolehan yang diamortisasi dicatat                            amortized cost classification is recorded at
              pada wajar.                                                          fair value.

     g.   Giro pada Bank Indonesia dan Bank Lain                       g.    Current Accounts with Bank Indonesia and
                                                                             Other Banks

          Giro pada Bank Indonesia dan bank lain                             The current accounts with Bank Indonesia and
          diklasifikasikan sebagai biaya perolehan yang                      other banks are classified as amortized cost
          diamortisasi dan dinyatakan sebesar biaya                          and stated at amortized cost using the effective
          perolehan diamortisasi menggunakan metode                          interest rate method.
          suku bunga efektif.

     h.   Penempatan pada Bank Indonesia dan Bank                      h.    Placements with Bank Indonesia and Other
          Lain                                                               Banks

          Penempatan pada Bank Indonesia dan bank                            The placements with Bank Indonesia and other
          lain diklasifikasikan sebagai biaya perolehan                      banks are classified as amortized cost which
          yang diamortisasi yang dinyatakan sebesar                          are stated at amortized cost using the effective
          biaya perolehan diamortisasi menggunakan                           interest rate method.
          metode suku bunga efektif.

     i.   Tagihan dan Liabilitas Derivatif                             i.    Derivative Receivables and Payables

          Tagihan dan liabilitas derivatif untuk tujuan                      Derivative receivables and payables held for
          diperdagangkan pada saat pengukuran awal                           trading    are    initially   recognized     and
          dan setelah pengakuan awal diakui dan diukur                       subsequently measured at fair value in the
          pada nilai wajar di laporan posisi keuangan,                       statement of financial position, with transaction
          dengan biaya transaksi yang terjadi diakui                         costs recognized directly in profit or loss.
          langsung pada laba rugi.

          Perubahan nilai wajar pada tagihan dan                             Changes in fair value of derivative receivables
          liabilitas derivatif untuk tujuan diperdagangkan                   and payables held for trading are recognized as
          diakui sebagai pendapatan bersih instrumen                         net trading income in profit or loss. Gain or
          yang diperdagangkan dalam laba rugi.                               losses which are realized are recognized in
          Keuntungan atau kerugian yang direalisasi                          profit or loss.
          diakui pada laba rugi.


                                                             27
Page 208
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     j.   Tagihan dan Liabilitas Akseptasi                             j.    Acceptance Receivables and Payables

          Tagihan akseptasi diklasifikasikan sebagai aset                    Acceptance receivables are classified as
          keuangan dalam kelompok biaya perolehan                            financial assets measured at amortized cost.
          diamortisasi.

          Liabilitas akseptasi dikasifikasikan sebagai                       Acceptance liabilities are classified financial
          liabilitas keuangan yang diukur dengan biaya                       liabilities measured at amortized cost.
          perolehan diamortisasi.

     k.   Efek-Efek yang Dibeli/Dijual dengan Janji                    k.    Securities    Purchased/Sold                   under
          Dijual/Dibeli Kembali                                              Agreements to Resell/Repurchase

          Efek-efek yang dibeli dengan janji untuk dijual                    Securities purchased under agreements to
          kembali    diklasifikasikan  sebagai     biaya                     resell are classified as amortized cost.
          perolehan yang diamortisasi.

          Efek-efek yang dibeli dengan janji untuk dijual                    Securities purchased under agreements to
          kembali disajikan sebagai aset dalam laporan                       resell are presented as assets in the statement
          posisi keuangan sebesar jumlah penjualan                           of financial position, at the resale price net of
          kembali dikurangi dengan pendapatan bunga                          unamortized interest income and allowance for
          yang belum diamortisasi dan cadangan                               impairment losses. The difference between the
          kerugian penurunan nilai. Selisih antara harga                     purchase price and the resale price is treated
          beli dan harga jual kembali diperlakukan                           as unearned interest income, and recognized
          sebagai pendapatan bunga yang ditangguhkan,                        as income over the period starting from when
          dan diakui sebagai pendapatan selama periode                       those securities are purchased until they are
          sejak efek-efek tersebut dibeli hingga dijual                      sold using effective interest rate method.
          menggunakan suku bunga efektif.

          Efek-efek yang dijual dengan janji untuk dibeli                    Securities sold under agreements to
          kembali diklasifikasikan sebagai liabilitas                        repurchase are classified as financial liabilities
          keuangan yang diukur dengan biaya perolehan                        measured at amortized cost.
          diamortisasi.

          Efek-efek yang dijual dengan janji untuk dibeli                    Securities sold under agreements to
          kembali disajikan sebagai liabilitas dalam                         repurchase are presented as liabilities in the
          laporan posisi keuangan sebesar jumlah                             statement of financial position, at the
          pembelian kembali, dikurangi dengan bunga                          repurchase price, net of unamortized prepaid
          dibayar di muka yang belum diamortisasi.                           interest. The difference between the selling
          Selisih antara harga jual dan harga beli kembali                   price and the repurchase price is treated as
          diperlakukan sebagai bunga dibayar di muka                         prepaid interest and recognized as interest
          dan diakui sebagai beban bunga selama jangka                       expense over the period starting from when
          waktu sejak efek-efek tersebut dijual hingga                       those securities are sold until they are
          dibeli kembali menggunakan metode suku                             repurchased using effective interest rate
          bunga efektif.                                                     method.

     l.   Kredit yang Diberikan                                        l.    Loans

          Setelah pengakuan awal, kredit yang diberikan                      Subsequent to initial measurement, loans are
          dicatat pada biaya perolehan diamortisasi                          measured at amortized cost using effective
          menggunakan metode suku bunga efektif.                             interest method. Syndicated loans are stated at
          Kredit dalam rangka pembiayaan bersama                             amortized cost in accordance with the risk
          (kredit sindikasi) dinyatakan sebesar biaya                        borned by the Bank.
          perolehan diamortisasi sesuai dengan porsi
          risiko yang ditanggung oleh Bank.




                                                             28
Page 209
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

          PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                            unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                       2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                            (continued)

     l.   Kredit yang Diberikan (lanjutan)                                 l.    Loans (continued)

          Bank       mencatat       restrukturisasi     kredit                   The Bank accounts for troubled debt
          bermasalah berdasarkan jenis restrukturisasi.                          restructuring in accordance with the type of
          Dalam hal restrukturisasi kredit bermasalah                            restructuring. In troubled debt restructuring
          dilakukan hanya dengan modifikasi persyaratan                          which involves only a modification of terms, the
          kredit, Bank mencatat dampak restrukturisasi                           Bank accounts for the effect of the restructuring
          tersebut secara prospektif dan tidak mengubah                          prospectively and does not change the carrying
          nilai tercatat kredit yang diberikan pada tanggal                      value of receivables at the time of restructuring
          restrukturisasi, kecuali jika jumlahnya melebihi                       unless the amount exceeds the present value
          nilai kini penerimaan kas masa depan yang                              of the total future cash receipts specified in the
          ditentukan dalam persyaratan baru. Jika nilai                          new terms. If the present value of the total
          kini penerimaan kas masa depan sebagaimana                             future cash receipts specified in the new terms
          yang ditentukan dalam persyaratan baru dari                            is lower than the recorded receivables balance
          kredit yang direstrukturisasi tersebut lebih                           prior to restructuring, the Bank reduces the
          rendah daripada nilai tercatat kredit yang                             receivables balance to the amount equal to the
          diberikan sebelum direstrukturisasi, Bank harus                        present value of the total future cash receipts.
          mengurangkan saldo kredit yang diberikan ke                            The amount of the reduction is recognized as
          suatu jumlah yang sama dengan jumlah nilai                             individual allowance for impairment losses.
          kini penerimaan kas masa depan. Jumlah                                 Recoveries from loans written-off are
          pengurangan tersebut diakui sebagai cadangan                           recognized in profit or loss.
          kerugian       penurunan        nilai    individual.
          Penerimaan kembali dari kredit yang telah
          dihapusbukukan diakui dalam laba rugi tahun
          berjalan.

          Kredit yang diberikan adalah penyediaan dana                           Loans represent funds provided or receivables
          atau tagihan yang dapat disetarakan dengan                             that can be considered as equivalents there of,
          itu, berdasarkan persetujuan atau kesepakatan                          based on agreements or financing contracts
          pinjam-meminjam dengan debitur yang                                    with borrowers, where borrowers are required
          mewajibkan debitur untuk melunasi utang dan                            to repay their debts with interest after a
          bunganya setelah jangka waktu tertentu, dan                            specified period, and expired trade finance
          tagihan yang berasal dari fasilitas trade finance                      facilities which have not been utilized should be
          yang telah jatuh tempo namun belum                                     settled within 21 days.
          digunakan maka harus diselesaikan dalam
          waktu 21 hari.

          Kredit yang diberikan diklasifikasikan sebagai                         Loans are classified as amortized cost.
          biaya perolehan yang diamortisasi.

          Kredit yang diberikan pada awalnya diukur                              Loans are initially measured at fair value plus
          pada nilai wajar ditambah dengan biaya                                 transaction costs that are directly attributable
          transaksi yang dapat diatribusikan secara                              and additional costs to obtain financial assets,
          langsung dan biaya tambahan untuk                                      and after initial recognition are measured at
          memperoleh aset keuangan tersebut, dan                                 amortized cost based on the effective interest
          setelah pengakuan awal diukur pada biaya                               rate method less allowance for impairment
          perolehan diamortisasi menggunakan metode                              losses.
          suku bunga efektif dikurangi dengan cadangan
          kerugian penurunan nilai.

          Kredit sindikasi dan kredit penerusan dicatat                          Syndicated loans and two step loans are
          sesuai dengan porsi kredit yang risikonya                              recorded according to the proportion of risks
          ditanggung oleh Bank.                                                  borne by the Bank.




                                                                 29
Page 210
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                    2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                         (continued)

     l.   Kredit yang Diberikan (lanjutan)                              l.    Loans (continued)

          Restrukturisasi kredit                                              Loan restructuring

          Restrukturisasi kredit meliputi modifikasi                          Loan restructuring may involve a modification of
          persyaratan kredit, konversi kredit menjadi                         the terms of the loans, conversion of loans into
          saham atau instrumen keuangan lainnya                               equity or other financial instruments and/or a
          dan/atau kombinasi dari keduanya.                                   combination of both.

          Untuk restrukturisasi kredit bermasalah dengan                      For non performing loan restructuring which
          cara konversi kredit yang diberikan menjadi                         involves a conversion of loans into equity or
          saham atau instrumen keuangan lainnya,                              other financial instruments, a loss on loan
          kerugian dari restrukturisasi kredit diakui hanya                   restructuring is recognized only if the fair value
          apabila nilai wajar penyertaan saham atau                           of the equity investments or other financial
          instrumen keuangan yang diterima dikurangi                          instruments received, reduced by estimated
          estimasi biaya untuk menjualnya, adalah                             costs to sell the equity or other financial
          kurang dari nilai tercatat kredit yang diberikan.                   instruments, is less than the carrying value of
                                                                              the loan.

          Bank menyusun ketentuan internal mengenai                           The Bank formed internal regulation regarding
          debitur yang berakhir masa restrukturisasinya                       the debtors who ended their restructuring
          yaitu debitur yang telah memenuhi kriteria                          period, namely debtors who had met the
          sebagai berikut:                                                    following criteria:

          1)   Debitur mampu memenuhi syarat-syarat                           1)    The debtor is able to fulfill the conditions
               sesuai Perjanjian Kredit Restrukturisasi                             under the Restructuring Credit Agreement
               dengan mempertimbangkan kemampuan                                    by considering the ability of the debtor to
               debitur untuk memenuhi penilaian propsek                             fulfill  the      business       performance
               usaha,       kinerja   dan     kemampuan                             assessment, performance and ability to
               membayar;                                                            pay;
          2)   Kredit berada pada kualitas kredit lancar                      2)    Credit’s quality is in current (collectibility 1)
               (kolektibilitas 1) sesuai dengan ketentuan                           in accordance with Bank Indonesia
               Bank Indonesia; dan                                                  regulations; and
          3)   Debitur mampu membayar bunga di atas                           3)    Debtors are able to pay interest above a
               tingkat bunga tertentu minimal 3 (tiga)                              certain interest rate of at least 3 (three)
               bulan atau periode angsuran berturut-turut.                          months or a period of successive
                                                                                    installments.

     m. Efek-efek                                                       m. Securities

          Pada saat pengakuan awal, efek-efek dicatat                         At initial recognition, securities are recorded
          sesuai dengan kategorinya yaitu aset keuangan                       according to their category, i.e., amortized cost,
          diklasifikasikan pada biaya perolehan yang                          fair value through other comprehensive income
          diamortisasi, nilai wajar melalui penghasilan                       or at fair value through profit or loss.
          komprehensif lain atau nilai wajar melalui laba
          rugi.

          Lihat Catatan 2f untuk kebijakan akuntansi atas                     Refer to Note 2f for the accounting policies of
          aset dan liabilitas keuangan.                                       financial assets and liabilities.

     n.   Pajak Penghasilan                                             n.    Income Taxes

          Beban pajak penghasilan terdiri dari beban                          Income tax expense comprises current and
          pajak kini dan beban pajak tangguhan. Beban                         deferred tax. Income tax expense is recognized
          pajak penghasilan diakui pada laba rugi, kecuali                    in profit or loss except to the extent that it
          untuk komponen yang diakui secara langsung                          relates to items recognized directly in equity or
          di ekuitas atau di penghasilan komprehensif                         in other comprehensive income.
          lain.

                                                              30
Page 211
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                          (continued)

     n.   Pajak Penghasilan (lanjutan)                                   n.    Income Taxes (continued)

          Pajak kini merupakan estimasi utang atau                             Current tax is the expected tax payable or
          pengembalian pajak yang dihitung atas laba                           refundable on taxable income or loss for the
          atau rugi kena pajak untuk tahun yang                                year using tax rates substantively enacted as of
          bersangkutan dengan menggunakan tarif pajak                          the reporting date and includes true-up
          yang secara substansial telah berlaku pada                           adjustments made to the pervious years’ tax
          tanggal pelaporan dan termasuk penyesuaian                           provisions either to reconcile them with the
          yang dibuat untuk penyisihan pajak tahun                             income tax reported in annual tax returns, or to
          sebelumnya, baik untuk merekonsiliasi pajak                          account for differences arising from tax
          penghasilan dengan pajak yang dilaporkan di                          assesments.
          surat pemberitahuan tahunan, atau untuk
          memperhitungkan perbedaan yang muncul dari
          pemeriksaan pajak.

          Utang atau restitusi pajak kini diukur                               Current tax payable or refundable is measured
          menggunakan estimasi terbaik atas jumlah                             using the best estimate of the amount expected
          yang diperkirakan akan dibayar atau diterima,                        to be paid or received, taking into consideration
          dengan mempertimbangkan ketidakpastian                               the uncertainty associated with the complexity
          terkait dengan kompleksitas peraturan pajak.                         of tax regulations.

          Pajak tangguhan diakui atas perbedaan                                Deferred tax is recognized in respect of
          temporer antara nilai tercatat aset dan liabilitas                   temporary differences between the carrying
          untuk tujuan pelaporan keuangan dan nilai yang                       amounts of assets and liabilities for financial
          digunakan untuk tujuan perpajakan. Pajak                             reporting purposes and the amounts used for
          tangguhan diukur dengan menggunakan tarif                            taxation purposes. Deferred tax is measured at
          pajak yang diharapkan untuk ditetapkan atas                          the tax rates that are expected to be applied to
          perbedaan temporer pada saat pembalikan,                             temporary differences when they reverse,
          berdasarkan peraturan yang telah berlaku atau                        based on the laws that have been enacted or
          secara substantif berlaku pada tanggal                               substantively enacted as of the reporting date.
          pelaporan. Metode ini juga mengharuskan                              This method also required the recognition of
          pengakuan manfaat pajak masa depan, seperti                          future tax benefits, such as tax loss
          rugi fiskal yang belum dikompensasi, apabila                         carryforwards, to the extent that realization of
          besar kemungkinan manfaat pajak tersebut                             such benefits is probable.
          dapat direalisasi.

          Aset pajak tangguhan ditelaah ulang pada                             Deferred tax assets are reviewed at each
          setiap tangal pelaporan dan dikurangkan                              reporting date and are reduced to the extent
          dengan manfaat pajak sejumlah nilai yang                             that it is no longer probable that the related tax
          besar kemungkinan yang tidak dapat                                   benefit will be realized; such reductions are
          terealisasi; pengurangan tersebut akan dibalik                       reversed when the probability of future taxable
          ketika kemungkinan atas laba kena pajak di                           incomes improves.
          masa depan meningkat.

          Aset pajak tangguhan yang belum diakui dinilai                       Unrecognized deferred tax assets are
          kembali pada setiap tanggal pelaporan dan                            reassessed at each reporting date and
          diakui sepanjang kemungkinan besar laba kena                         recognized to the extent that it has become
          pajak masa depan akan tersedia untuk                                 probable that future taxable incomes will be
          digunakan.                                                           available against which they can be used.




                                                               31
Page 212
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     n.   Pajak Penghasilan (lanjutan)                                 n.    Income Taxes (continued)

          Dalam menentukan jumlah pajak kini dan                             In determining the amount of current and
          tangguhan, Bank memperhitungkan dampak                             deferred tax, the Bank takes into account the
          atas posisi pajak yang tidak pasti dan tambahan                    impact of uncertain tax positions and any
          pajak serta penalti.                                               additional taxes and penalties.

          Koreksi atas kewajiban pajak diakui pada saat                      Amendments to tax obligations are recognized
          surat ketetapan pajak diterima, atau apabila                       when an assessment is received, or if objection
          diajukan keberatan dan atau banding, maka                          and or appeal is applied, when the results of the
          koreksi diakui pada saat keputusan atas                            objection or the appeal are received.
          keberatan atau banding itu diterima.

     o.   Aset Tetap, Aset Hak Guna dan Liabilitas                     o.    Fixed Assets          Right-of-Use-Assets         and
          Sewa                                                               Lease Liability

          Aset tetap pada awalnya diakui sebesar biaya                       Fixed assets are initially recognized at cost.
          perolehan. Biaya perolehan mencakup harga                          Cost includes its purchase price and any costs
          pembelian dan semua biaya yang terkait secara                      directly attributable to bringing the asset to the
          langsung untuk membawa aset tersebut ke                            location and condition necessary for it to be
          lokasi dan kondisi yang diinginkan agar aset                       capable of operating in the manner intended by
          siap digunakan sesuai dengan maksud                                management.
          manajemen.

          Setelah pengukuran awal, aset tetap diukur                         Subsequent to initial measurement, fixed
          dengan model biaya, yaitu dicatat pada biaya                       assets are measured using the cost model, i.e
          perolehan dikurangi akumulasi penyusutan dan                       carried at its cost less any accumulated
          akumulasi rugi penurunan nilai.                                    depreciation and accumulated impairment
                                                                             losses.

          Biaya pengurusan hak legal atas tanah ketika                       Costs relating with acquisition of legal titles on
          tanah diperoleh pertama kali diakui sebagai                        the land rights are recognized as part of
          bagian biaya perolehan tanah dan tidak                             acquisition cost of land and not amortized,
          disusutkan, kecuali terdapat bukti yang                            except there is evidence indicating that the
          mengindikasikan bahwa perpanjangan atau                            extension or renewal of land rights is probable
          pembaruan     hak    atas   tanah tersebut                         or certainly not be obtained. While costs of
          kemungkinan besar atau pasti tidak diperoleh.                      extension or renewal of legal titles on the land
          Sedangkan      biaya    perpanjangan     atau                      rights are deferred and recognized as intangible
          pembaruan hak legal atas tanah diakui sebagai                      assets and amortized using the straight-line
          aset    tak   berwujud    dan    diamortisasi                      method over the legal term of the land rights or
          menggunakan metode garis lurus selama                              economic life of the land, whichever is shorter.
          periode yang lebih pendek antara hak atas
          tanah atau umur ekonomis tanah.

          Kecuali tanah yang tidak disusutkan, aset tetap                    Except for land, which is not depreciated, other
          lainnya disusutkan menggunakan metode garis                        fixed assets are depreciated using straight line
          lurus selama estimasi masa manfaatnya                              method over the estimated useful lives of the
          sebagai berikut:                                                   assets, as follows:

                                                      Tahun/Years

          Gedung                                             20                                                         Buildings
          Renovasi dan perbaikan gedung                     3-7                                         Leasehold improvement
          Perlengkapan dan perabot kantor                   4-8                           Office equipment, furniture and fixtures
          Kendaraan bermotor                                  4                                                          Vehicles




                                                            32
Page 213
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     o.   Aset Tetap, Aset Hak Guna dan Liabilitas                     o.    Fixed Assets Right-of-Use-Assets                  and
          Sewa (lanjutan)                                                    Lease Liability (continued)

          Metode penyusutan, masa manfaat dan nilai                          Depreciation methods, useful lives and residual
          residu aset tetap ditelaah pada setiap tanggal                     values of fixed assets are reassessed at each
          pelaporan dan disesuaikan jika lebih tepat,                        reporting date and adjusted as appropriate, to
          untuk memastikan bahwa metode penyusutan,                          ensure that they reflect the expected economic
          masa manfaat dan nilai residu tersebut telah                       benefits derived from these assets.
          mencerminkan      manfaat      ekonomi    yang
          diharapkan dari aset tersebut.

          Beban      perbaikan    dan      pemeliharaan                      Normal repair and maintenance expenses are
          dibebankan pada laba rugi tahun berjalan,                          charged to profit or loss for the year, while
          sedangkan renovasi dan penambahan yang                             renovation and improvements, which are
          jumlahnya signifikan dan memperpanjang                             significant and prolong the useful life of assets,
          masa manfaat dikapitalisasi ke aset tetap yang                     are capitalized to the respective assets. The
          bersangkutan. Nilai tercatat serta akumulasi                       carrying amount and the related accumulated
          penyusutan atas aset tetap yang dijual,                            depreciation of fixed assets which are sold are
          dikeluarkan dari kelompok aset tetap yang                          removed from the related 1group of assets, and
          bersangkutan, dan laba atau ruginya diakui                         the gain or loss is recognized as income or
          sebagai pendapatan atau beban dalam laba                           expense in profit or loss.
          rugi.

          Kebijakan sewa                                                     Leases policy

          Bank mengakui liabilitas sewa, sebagai                             The Bank recognised a lease liability, being the
          pembayaran sewa yang tersisa termasuk atas                         remaining lease payments including extensions
          opsi perpanjangan dimana perpanjangan                              options where renewal is reasonably certain,
          hampir dapat dipastikan, didiskontokan                             discounted using the incremental borrowing
          menggunakan        tingkat    bunga     pinjaman                   rate at the date of initial application. Meanwhile,
          inkremental pada tanggal penerapan awal.                           rights of use assets include the amount of lease
          Sedangkan aset hak guna mencakup jumlah                            liabilities recognized, initial direct costs paid,
          liabilitas sewa yang diakui, biaya langsung awal                   recovery costs and lease payments made on or
          yang dibayarkan, biaya pemulihan dan                               before the start date of the lease, less rental
          pembayaran sewa yang dilakukan pada atau                           incentives received. Rights of use assets are
          sebelum tanggal mulai sewa, dikurangi insentif                     depreciated using the straight-line method over
          sewa yang diterima. Aset hak guna disusutkan                       the shorter period between the lease term and
          dengan metode garis lurus selama jangka                            the estimated useful life of the asset.
          waktu yang lebih pendek antara masa sewa
          dengan estimasi masa manfaat aset.

          Beban keuangan dicatat dalam laporan laba                          Finance expense is recorded in the statement
          rugi. Aset sewa (disajikan sebagai bagian aset                     of income. Leased assets (presented under
          tetap) disusutkan selama jangka waktu yang                         fixed assets) are depreciated over the shorter
          lebih pendek antara umur manfaat aset sewa                         of the estimated useful life of the assets and the
          dan periode masa sewa, jika tidak ada                              lease term, if there is no reasonable certainty
          kepastian yang memadai bahwa Bank akan                             that Bank will obtain ownership by the end of
          mendapatkan hak kepemilikan pada akhir masa                        the lease term.
          sewa.




                                                             33
Page 214
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                    2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                         (continued)

     p.   Aset Takberwujud                                              p.    Intangible Assets

          Aset takberwujud (perangkat lunak dan lisensi                       Intangible assets (software and software
          penggunaan perangkat lunak) dicatat sebesar                         license) are stated at cost less accumulated
          biaya perolehan dikurangi akumulasi amortisasi                      amortization and accumulated impairment
          dan akumulasi rugi penurunan nilai aset.                            losses. Subsequent expenditure on intangible
          Pengeluaran selanjutnya yang jumlahnya                              assets, which is significant, is capitalized only
          signifikan akan dikapitalisasi hanya jika                           when it increases the future economic benefits
          pengeluaran tersebut menambah manfaat                               embodied in the specific asset to which it
          ekonomis aset yang bersangkutan di masa                             relates. All other expenditures are expensed as
          mendatang. Pengeluaran lainnya dibebankan                           incurred. Amortization is recognized in profit or
          pada saat terjadinya. Amortisasi diakui pada                        loss over the estimated useful lives of 8 years
          laba rugi selama estimasi masa manfaat                              using straight line method.
          8 tahun dengan menggunakan metode garis
          lurus.

          Metode amortisasi, masa manfaat dan nilai                           Amortization method, useful lives and residual
          residu ditelaah pada setiap tanggal pelaporan                       values are reviewed at each reporting date and
          dan disesuaikan jika lebih tepat, untuk                             adjusted as appropriate, to ensure that they
          memastikan bahwa metode penyusutan, masa                            reflect the expected economic benefits derived
          manfaat dan nilai residu tersebut telah                             from these assets.
          mencerminkan      manfaat      ekonomi   yang
          diharapkan dari aset tersebut.

     q.   Agunan yang Diambil Alih                                      q.    Foreclosed Assets

          Pada saat pengakuan awal, agunan yang                               Foreclosed assets acquired in conjunction with
          diambil alih sehubungan dengan penyelesaian                         settlement of loans are initially recorded at their
          kredit dicatat sebesar nilai wajar setelah                          fair value less costs to sell but not to exceed the
          dikurangi biaya untuk menjualnya tetapi tidak                       carrying value of loans. The Bank does not
          melebihi nilai tercatat kredit yang diberikan.                      recognize any gains when the Bank foreclosed
          Bank tidak mengakui keuntungan pada saat                            an asset. Subsequent to initial recognition,
          pengambilalihan aset. Setelah pengakuan                             foreclosed assets are recorded at carrying
          awal, agunan yang diambil alih dicatat sebesar                      amount or at fair value less costs to sell,
          nilai yang lebih rendah antara nilai tercatat                       whichever is lower. The excess between the
          dengan nilai wajar setelah dikurangi biaya untuk                    carrying value and fair value less costs to sell is
          menjualnya. Selisih lebih antara nilai tercatat                     recognized as impairment losses in profit or
          dengan nilai wajar agunan yang diambil alih                         loss.
          setelah dikurangi biaya untuk menjualnya diakui
          sebagai kerugian penurunan nilai dalam laba
          rugi.

          Agunan yang diambil alih tidak disusutkan dan                       Foreclosed assets are not depreciated and
          beban-beban sehubungan dengan perolehan                             expenses in relation with the acquisition and
          dan pemeliharaan aset tersebut dibebankan                           maintenance of those assets are charged to
          pada laba rugi pada saat terjadinya.                                profit or loss as incurred.

          Selisih antara nilai tercatat dan hasil penjualan                   The difference between the carrying value and
          dari agunan yang diambil alih diakui sebagai                        the proceeds from the sale of foreclosed assets
          laba atau rugi pada saat penjualan agunan                           is recognized as gain or loss at the time of sale
          yang diambil alih, dan diakui sebagai                               and recognized as income or expense in profit
          pendapatan atau beban pada laba rugi.                               or loss.

          Manajemen melakukan evaluasi atas nilai                             Management evaluates the value of foreclosed
          agunan yang diambil alih secara berkala.                            assets on a periodic basis.




                                                              34
Page 215
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                          (continued)

     r.   Aset lain-lain                                                 r.    Other assets

          Aset lain-lain terdiri dari tagihan atas transaksi                   Other assets include receivables from
          agunan yang diambil alih, piutang lain-lain,                         foreclosed    asset     transactions,     others
          akrual bunga, setoran jaminan dan lain-lain.                         receivable, accruals interest, security deposits
                                                                               and others.

     s.   Identifikasi dan       Pengukuran      Kerugian                s.    Identification and             Measurement          of
          Penurunan Nilai                                                      Impairment Losses

          Aset keuangan                                                        Financial assets

          Bank mengakui penyisihan kerugian kredit                             Bank recognize the allowance for expected
          ekskpektasian pada instrumen keuangan yang                           credit losses on financial instruments that are
          tidak diukur pada nilai wajar melalui laba rugi.                     not measured at fair value through profit or loss.

          Tidak ada penyisihan kerugian kredit                                 There is no allowance for expected credit
          ekskpektasian pada investasi instrumen                               losses on investment in equity instruments.
          ekuitas.

          Bank mengukur cadangan kerugian sejumlah                             The Bank measure the allowance for losses for
          kerugian kredit ekspektasian sepanjang                               the lifetime of an expected credit losses, except
          umurnya, kecuali untuk hal berikut, diukur                           for the following, which are measured according
          sejumlah  kerugian    kredit ekspektasian                            to 12 months expected credit losses:
          12 bulan:

          i.    Instrumen utang yang memiliki risiko kredit                    i.    Debt instruments that have low credit risk
                rendah pada tanggal pelaporan; dan                                   at the reporting date; and
          ii.   Instrumen keuangan lainnya yang risiko                         ii.   Other financial instruments for which credit
                kreditnya tidak meningkat secara signifikan                          risk has not increased significantly since
                sejak pengakuan awal.                                                initial recognition.

          Bank menganggap instrumen utang memiliki                             The Bank considers debt instruments to have
          risiko kredit yang rendah ketika peringkat risiko                    low credit risk when the credit risk rating is at
          kreditnya setara dengan definisi investment                          par with the globally understood definition of
          grade yang dipahami secara global.                                   investment grade.

          Kerugian kredit ekspektasian 12 bulan adalah                         The 12-month expected credit loss is part of the
          bagian dari kerugian kredit ekspektasian                             expected credit loss throughout its lifetime that
          sepanjang umurnya yang merepresentasikan                             represents an expected credit loss arising from
          kerugian kredit ekspektasian yang timbul dari                        a default on financial instruments that might
          peristiwa gagal bayar instrumen keuangan yang                        occur within 12 months after reporting date.
          mungkin terjadi dalam 12 bulan setelah tanggal
          pelaporan.




                                                               35
Page 216
                                                                                 The original financial statements included herein are in
                                                                                                               the Indonesian language.

          PT BANK QNB INDONESIA TBK                                             PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                     for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                             unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                        2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                             (continued)

     s.   Identifikasi dan Pengukuran               Kerugian                s.    Identification and     Measurement                  of
          Penurunan Nilai (lanjutan)                                              Impairment Losses (continued)

          Pengukuran Kerugian Kredit Ekspektasian                                 Measurement of Expected Credit Losses

          Kerugian Kredit Ekspektasian adalah estimasi                            Expected Credit Loss is an estimate of the
          probabilitas tertimbang dari kerugian kredit                            weighted probability of a credit loss measured
          yang diukur sebagai berikut:                                            as follows:

          i.     aset keuangan yang tidak memburuk pada                           i.     financial assets that do not deteriorate at
                 tanggal pelaporan,          kerugian    kredit                          the reporting date, the expected credit loss
                 ekspektasian diukur sebesar selisih antara                              is measured at the difference between the
                 nilai kini dari seluruh kekurangan kas (yaitu                           present value of all cash shortages (i.e. the
                 selisih antara arus kas yang terutang                                   difference between the cash flows owed to
                 kepada Bank sesuai dengan kontrak dan                                   the Bank in accordance with the contract
                 arus kas yang diperkirakan akan diterima                                and the cash flows expected to be received
                 oleh Bank);                                                             by the Bank);
          ii.    aset keuangan yang memburuk pada                                 ii.    financial assets that deteriorate at the
                 tanggal pelaporan,          kerugian    kredit                          reporting date, the expected credit loss is
                 ekspektasian diukur sebesar selisih antara                              measured at the difference between the
                 jumlah tercatat bruto dan nilai kini arus kas                           gross carrying amount and the present
                 masa depan yang diestimasi;                                             value of estimated future cash flows;
          iii.   komitmen pinjaman yang belum ditarik,                            iii.   for undisbursed loan commitments,
                 kerugian kredit ekspektasian diukur                                     expected credit losses are measured at the
                 sebesar selisih antara nilai kini jumlah arus                           difference between the present value of the
                 kas jika komitmen ditarik dan arus kas yang                             amount of cash flow if the commitments is
                 diperkirakan akan diterima oleh Bank;                                   withdrawn and the cash flow expected to
                                                                                         be received by the Bank;

          Kerugian Kredit Ekspektasian adalah estimasi                            Expected Credit Loss is an estimate of the
          probabilitas tertimbang dari kerugian kredit                            weighted probability of a credit loss measured
          yang diukur sebagai berikut:                                            as follows:

          iv. kontrak jaminan keuangan, kerugian kredit                           iv. for financial guarantee contracts, expected
              ekspektasian diukur sebesar selisih antara                              credit losses are measured at the
              pembayaran yang diperkirakan untuk                                      difference     between    the     estimated
              mengganti pemegang atas kerugian kredit                                 payments to replace the holder for the
              yang terjadi dikurangi jumlah yang                                      credit losses incurred less the amount
              diperkirakan dapat dipulihkan.                                          estimated to be recoverable.

          Aset Keuangan yang Direstrukturisasi                                    Restructured Financial Assets

          Jika ketentuan aset keuangan dinegosiasikan                             If the terms of the financial assets are
          ulang atau dimodifikasi atau aset keuangan                              renegotiated or modified or the existing
          yang ada diganti dengan yang baru karena                                financial assets are replaced with new ones due
          kesulitan keuangan peminjam, maka dilakukan                             to the borrower’s financial difficulties, an
          penilaian apakah aset keuangan yang ada                                 assessment is made whether recognition of
          harus dihentikan pengakuannya dan kerugian                              existing financial assets must be derecognized
          kredit ekspektasian diukur sebagai berikut:                             and expected credit losses measured as
                                                                                  follows:

          i.     Jika restrukturisasi tidak mengakibatkan                         i.     If the restructuring does not result in the
                 penghentian pengakuan aset yang ada,                                    termination of recognition of existing
                 maka arus kas yang diperkirakan yang                                    assets, then the estimated cash flows
                 timbul dari      aset    keuangan yang                                  arising from the modified financial assets
                 dimodifikasi      dimasukkan       dalam                                are included in the calculation of cash
                 perhitungan kekurangan kas dari aset yang                               shortages of existing assets.
                 ada.

                                                                  36
Page 217
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     s.   Identifikasi dan Pengukuran           Kerugian               s.    Identification and     Measurement                  of
          Penurunan Nilai (lanjutan)                                         Impairment Losses (continued)

          Aset Keuangan         yang    Direstrukturisasi                    Restructured Financial Assets (continued)
          (lanjutan)

          Jika ketentuan aset keuangan dinegosiasikan                        If the terms of the financial assets are
          ulang atau dimodifikasi atau aset keuangan                         renegotiated or modified or the existing
          yang ada diganti dengan yang baru karena                           financial assets are replaced with new ones due
          kesulitan keuangan peminjam, maka dilakukan                        to the borrower’s financial difficulties, an
          penilaian apakah aset keuangan yang ada                            assessment is made whether recognition of
          harus dihentikan pengakuannya dan kerugian                         existing financial assets must be derecognized
          kredit ekspektasian diukur sebagai berikut:                        and expected credit losses measured as
          (lanjutan)                                                         follows: (continued)

          ii.   Jika restrukturisasi akan menghasilkan                       ii.   If the restructuring will result in a
                penghentian pengakuan aset yang ada,                                derecognition of the existing assets, the
                maka nilai wajar aset baru diperlakukan                             fair value of the new asset is treated as the
                sebagai arus kas akhir dari aset keuangan                           final cash flow of the existing financial
                yang ada pada saat penghentian                                      assets at the time of derecognition. This
                pengakuannya. Jumlah ini dimasukkan                                 amount is included in the calculation of
                dalam perhitungan kekurangan kas dari                               cash shortages from existing financial
                aset    keuangan      yang    ada     yang                          assets which are discounted from the date
                didiskontokan dari tanggal penghentian                              of derecognition to the reporting date using
                pengakuan     ke     tanggal     pelaporan                          the initial effective interest rate of the
                menggunakan suku bunga efektif awal dari                            existing financial assets.
                aset keuangan yang ada.

          Aset Keuangan yang Dibeli atau yang                                Purchased or Originated Credit Impaired
          Berasal dari Aset Keuangan Memburuk                                Financial Assets - POCI

          Aset keuangan dikategorikan sebagai POCI                           Financial assets are catergorized as POCI if
          apabila terdapat bukti objektif penurunan nilai                    there is objective evidence of impairment at
          pada saat pengakuan awal. Pada saat                                initial recognition. At initial recognition, no
          pengakuan awal, tidak ada penyisihan kerugian                      allowance for credit losses is recognized
          kredit yang diakui karena harga pembelian atau                     because the purchase price or value has
          nilainya telah termasuk estimasi kerugian kredit                   included lifetime estimated credit losses.
          sepanjang umurnya. Selanjutnya, perubahan                          Furthermore, changes in lifetime credit losses,
          kerugian kredit sepanjang umurnya, apakah                          whether positive or negative, are recognized in
          positif atau negatif, diakui dalam laporan laba                    the statement of profit or loss as part of the
          rugi sebagai bagian dari cadangan kerugian                         allowance for impairment losses.
          penurunan nilai.




                                                             37
Page 218
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                      2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                           (continued)

     s.   Identifikasi dan Pengukuran             Kerugian                s.    Identification and     Measurement                  of
          Penurunan Nilai (lanjutan)                                            Impairment Losses (continued)

          Penyajian Penyisihan          Kerugian     Kredit                     Presentation of Allowance for Expected
          Ekspektasian dalam            Laporan      Posisi                     Credit Losses in Statements of Financial
          Keuangan                                                              Position

          Penyisihan kerugian kredit ekspektasian                               Allowance for expected credit losses is
          disajikan dalam laporan posisi keuangan                               presented in the statement of financial positions
          sebagai berikut:                                                      as follows:

          i.     Aset keuangan yang diukur pada biaya                           i.     Financial assets measured at amortized
                 perolehan     diamortisasi,    penyisihan                             cost, allowance for expected credit losses
                 kerugian kredit ekspektasian disajikan                                is presented as a deduction from the gross
                 sebagai pengurang dari jumlah tercatat                                carrying amount of the asset;
                 bruto aset;
          ii.    Komitmen pinjaman dan kontrak jaminan                          ii.    Loan      commitments      and     financial
                 keuangan, penyisihan kerugian kredit                                  guarantee contracts, allowance for
                 ekspektasian disajikan sebagai provisi;                               expected credit losses is presented as a
                                                                                       provision;
          iii.   Instrumen utang yang diukur pada nilai                         iii.   Debt instruments measured at fair value
                 wajar melalui penghasilan komprehensif                                through other comprehensive income,
                 lain,   penyisihan     kerugian     kredit                            allowance for expected credit losses are
                 ekspektasian tidak diakui dalam laporan                               not recognized in the statement of financial
                 posisi keuangan karena jumlah tercatat                                position because the carrying amounts of
                 dari aset-aset ini adalah nilai wajarnya.                             these assets are at their fair values.
                 Namun demikian penyisihan kerugian                                    However, allowance for expected credit
                 kredit ekspektasian diungkapkan dan                                   losses is disclosed and recognized in other
                 diakui dalam penghasilan komprehensif                                 comprehensive income.
                 lain.

          Penerimaan Kembali atas Aset Keuangan                                 Recoveries of Written-off Financial Assets
          yang Telah Dihapusbukukan

          Ketika kredit yang diberikan tidak tertagih, kredit                   When a loan is uncollectible, it is written off
          yang diberikan tersebut dihapusbuku dengan                            against the related allowance for impairment
          menjurnal balik cadangan kerugian penurunan                           loss. Such loans are written off after all the
          nilai. Kredit yang diberikan tersebut dapat                           necessary procedures have been completed
          dihapus buku setelah semua prosedur yang                              and the amount of the loss has been
          diperlukan telah dilakukan dan jumlah kerugian                        determined.
          telah ditentukan.

          Penerimaan kembali atas aset keuangan yang                            The recoveries of written-off financial assets in
          telah dihapusbukukan pada tahun berjalan                              the current year are credited by adjusting the
          dikreditkan dengan menyesuaikan akun                                  allowance for impairment losses accounts.
          cadangan      kerugian   penurunan      nilai.                        Recoveries of written-off financial assets from
          Penerimaan kembali atas aset keuangan yang                            previous years are recorded as operational
          telah dihapusbukukan pada tahun sebelumnya                            income other than interest income.
          dicatat sebagai pendapatan operasional selain
          pendapatan bunga.




                                                                38
Page 219
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                          (continued)

     s.   Identifikasi dan Pengukuran            Kerugian                s.    Identification and     Measurement                  of
          Penurunan Nilai (lanjutan)                                           Impairment Losses (continued)

          Aset non-keuangan                                                    Non-financial assets

          Nilai tercatat aset non-keuangan, selain aset                        The carrying amount of the Bank's non-financial
          pajak tangguhan, ditelaah pada setiap tanggal                        assets, other than deferred tax assets, are
          pelaporan untuk menentukan ada tidaknya                              reviewed at each reporting date to determine
          indikasi penurunan nilai. Jika terdapat indikasi                     whether there is any indication of impairment. If
          adanya penurunan nilai tersebut, maka nilai                          any such indication exists, then the asset's
          terpulihkan     aset    diestimasi.     Kerugian                     recoverable amount is estimated. An
          penurunan nilai diakui jika nilai tercatat suatu                     impairment loss is recognized if the carrying
          aset melebihi estimasi nilai terpulihkannya. Nilai                   amount of an asset exceeds its estimated
          terpulihkan suatu aset adalah nilai yang                             recoverable amount. The recoverable amount
          terbesar antara nilai pakai aset dan nilai wajar                     of an asset is the greater of its value in use and
          dikurangi biaya penjualan. Dalam penentuan                           its fair value less cost to sell. In assessing value
          nilai pakai aset, estimasi arus kas masa depan                       in use, the estimated future cash flows are
          didiskontokan menggunakan tingkat diskonto                           discounted to their present value using a pretax
          sebelum pajak yang menggambarkan penilaian                           discount rate that reflects current market
          pasar kini atas nilai waktu dari uang dan risiko                     assessments of the time value of money and
          yang terkait dengan aset yang bersangkutan.                          the risks specific to the asset.

          Untuk tujuan pengujian penurunan nilai, aset                         For the purpose of impairment testing, assets
          yang tidak dapat diuji secara individual dapat                       that cannot be tested individually are grouped
          digabungkan ke dalam kelompok aset terkecil                          together into the smallest group of assets that
          yang menghasilkan arus kas masuk dari                                generates cash inflows from continuing use that
          penggunaan        berkesinambungan        yang                       are largely independent of the cash inflows of
          sebagian besar independen dari arus kas                              other assets.
          masuk dari aset lainnya.

          Kerugian penurunan nilai atas aset non-                              Impairment losses in respect of non-financial
          keuangan     yang diakui     pada      periode                       assets recognized in prior periods are assessed
          sebelumnya ditelaah pada setiap tanggal                              at each reporting date for any indications that
          pelaporan untuk menilai apakah terdapat                              the loss has decreased or no longer exists. An
          indikasi bahwa rugi penurunan nilai yang telah                       impairment loss is reversed if there has been a
          diakui sebelumnya telah menurun atau tidak                           change in the estimates used to determine the
          ada lagi. Kerugian penurunan nilai dibalik jika                      recoverable amount. An impairment loss is
          terdapat perubahan estimasi yang digunakan                           reversed only to the extent that the asset's
          untuk menentukan nilai terpulihkan. Jumlah                           carrying amount does not exceed the carrying
          kerugian penurunan nilai yang dibalik tidak                          amount that would have been determined, net
          boleh menyebabkan nilai aset melebihi nilai                          of depreciation or amortization, if no impairment
          tercatat neto setelah penyusutan atau                                loss had been recognized.
          amortisasi, seandainya tidak ada kerugian
          penurunan nilai yang diakui.

     t.   Simpanan dari Nasabah dan Bank Lain                            t.    Deposits from Customers and Other Banks

          Simpanan pada awalnya diukur pada nilai wajar                        Deposits are initially measured at fair value less
          dikurangi biaya transaksi yang dapat                                 directly attributable transaction costs, and
          diatribusikan secara langsung untuk perolehan                        subsequently measured at amortized cost
          simpanan, dan setelah pengakuan awal diukur                          using the effective interest method.
          pada       biaya    perolehan     diamortisasi
          menggunakan metode suku bunga efektif.




                                                               39
Page 220
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                     2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                          (continued)

     u.   Efek-efek yang Diterbitkan                                     u.    Marketable Securities Issued

          Efek-efek yang diterbitkan pada pengukuran                           Marketable securities issued are initially
          awal disajikan sebesar nilai wajar ditambah                          measured at fair value plus directly attributable
          dengan biaya transaksi (jika ada) yang dapat                         transaction costs (if any). Subsequently
          diatribusikan langsung dengan perolehan/                             transaction costs are amortized using the
          penerbitan efek-efek yang diterbitkan. Biaya                         effective interest rate up to the maturity of
          transaksi kemudian diamortisasi dengan suku                          marketable securities. Marketable securities
          bunga efektif sampai dengan jatuh tempo dari                         issued are classified as financial liabilities at
          efek-efek yang diterbitkan.                                          amortized cost.

     v.   Liabilitas Imbalan Kerja                                       v.    Obligation for Employment Benefits

          Liabilitas imbalan kerja dihitung sebesar nilai                      The obligation for employment benefits is
          kini dari estimasi jumlah liabilitas imbalan kerja                   calculated at present value of estimated future
          di masa depan yang timbul dari jasa yang telah                       benefits that the employees have earned in
          diberikan oleh karyawan pada masa kini dan                           return for their services in the current and prior
          masa lalu. Perhitungan dilakukan oleh aktuaris                       periods. The calculation is performed by an
          independen dengan metode projected-unit-                             independent actuary using the projected-unit-
          credit.                                                              credit method.

          Keuntungan atau kerugian yang timbul dari                            Gains or losses arising from actuarial
          pengukuran kembali aktuarial dari liabilitas                         remeasurements of the net defined benefit
          imbalan pasti bersih diakui segera sebagai                           liability are recognized immediately in other
          penghasilan komprehensif lain. Ketika manfaat                        comprehensive income. When the benefits of a
          atas program berubah atau ketika terjadi                             plan are changed or when a plan is curtailed,
          kurtailmen program, dampak perubahan atas                            the resulting change in benefit that relates to
          manfaat sehubungan dengan jasa lalu atau                             past service or the gain or loss on curtailment is
          keuntungan atau kerugian atas kurtailmen                             recognized immediately in profit or loss.
          diakui segera dalam laba rugi.

          Terkait adanya siaran pers DSAK IAI                                  Regarding the DSAK IAI press release
          “Pengatribusian Imbalan pada Periode Jasa”                           "Compensation Attribution in the Service
          pada bulan April 2022, Bank mengubah                                 Period" in April 2022, the Bank changed the
          kebijakan terkait atribusi imbalan pensiun pada                      policy related to the attribution of pension
          periode jasa sesuai ketentuan dalam PSAK 24                          compensation in the service period in
          untuk pola fakta umum dari program pensiun                           accordance with the provisions in PSAK 24 for
          berbasis undang-undang ketenagakerjaan                               the general fact pattern of pension programs
          yang berlaku di Indonesia. Dampak perubahan                          based on the Indonesian labor laws. The impact
          perhitungan tersebut adalah tidak material                           of the change in calculation is immaterial to the
          terhadap Bank, sehingga dibukukan seluruhnya                         Bank, therefore the impact of the changes is
          pada laporan keuangan pada tahun berjalan.                           recorded entirety in the financial statements for
                                                                               the current year.

     w. Modal Saham                                                      w. Share Capital

          Saham diklasifikasikan sebagai ekuitas jika                          Shares are classified as equity when there is no
          tidak terdapat kewajiban kontraktual untuk                           contractual obligation to transfer cash or other
          mentransfer kas atau aset keuangan lainnya.                          financial assets.




                                                               40
Page 221
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                 2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                      (continued)

     x.   Beban Emisi Saham                                          x.    Share Issuance Costs

          Sesuai dengan Peraturan No. VIII.G.7 lampiran                    Based on the Regulation No. VIII.G.7, appendix
          Surat Keputusan Bapepam No. Kep-                                 of Bapepam Decision Letter No. Kep-
          06/PM/2000 tanggal 13 Maret 2000 mengenai                        06/PM/2000 dated March 13, 2000 regarding
          “Pedoman Penyajian Laporan Keuangan”,                            “Guidance      for     Financial      Statements
          biaya-biaya emisi efek yang terjadi sehubungan                   Presentation”, costs related to the public
          dengan penawaran saham kepada masyarakat                         offering of shares (including pre-emptive rights
          (termasuk penerbitan hak memesan efek                            issue) are deducted from the proceeds and
          terlebih dahulu) dikurangkan langsung dari                       presented as a deduction from the “Additional
          hasil emisi dan disajikan sebagai pengurang                      Paid-in Capital” account, under Equity section
          pada akun “Tambahan Modal Disetor”, sebagai                      in the statement of financial position.
          bagian dari Ekuitas pada laporan posisi
          keuangan.

     y.   Laba per Saham                                             y.    Earnings per Share

          Laba (rugi) per saham dasar dihitung dengan                      Basic earnings (loss) per share is computed by
          membagi laba tahun berjalan dengan rata-rata                     dividing income (loss) for the year by the
          tertimbang jumlah saham yang beredar selama                      weighted average number of          outstanding
          tahun berjalan.                                                  shares during the year.

          Pada tanggal 31 Desember 2023 dan 2022,                          As of December 31, 2023 and 2022, there were
          tidak terdapat instrumen yang berpotensi                         no existing instruments which could result in the
          menjadi saham biasa. Oleh karenanya, laba per                    issue of further ordinary shares. Therefore,
          saham dilusian sama dengan laba per saham                        diluted earnings per share is equivalent to the
          dasar.                                                           basic earnings per share.

     z.   Pendapatan dan Beban Bunga                                 z.    Interest Income and Expenses

          Pendapatan dan beban bunga diakui dalam                          Interest income and expenses are recognized
          laba rugi menggunakan metode suku bunga                          in profit or loss using the effective interest
          efektif.                                                         method.

          Pendapatan dan beban bunga yang disajikan di                     Interest income and expenses presented in the
          dalam laporan laba rugi dan penghasilan                          statement of profit or loss and other
          komprehensif lain meliputi:                                      comprehensive income include:

          x   Bunga atas aset keuangan dan liabilitas                      x   Interest on financial assets and liabilities at
              keuangan yang dicatat pada biaya                                 amortized cost calculated using the effective
              perolehan diamortisasi yang dihitung                             interest method; and
              menggunakan metode suku bunga efektif;
              dan
          x   Bunga atas efek-efek yang tersedia untuk                     x   Interest on available-for-sale securities
              dijual yang dihitung menggunakan metode                          calculated using the effective interest
              suku bunga efektif.                                              method.

          Pendapatan bunga atas aset keuangan yang                         Interest on impaired financial assets continues
          mengalami penurunan nilai tetap diakui atas                      to be recognized using the rate of interest used
          dasar suku bunga yang digunakan untuk                            to discount the future cash flows for the
          mendiskonto arus kas masa datang dalam                           purposes of measuring the impairment losses.
          pengukuran kerugian penurunan nilai.




                                                           41
Page 222
                                                                        The original financial statements included herein are in
                                                                                                      the Indonesian language.

          PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                       unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                  2.   Summary of        Material     Accounting       Policies
     (lanjutan)                                                       (continued)

     aa. Pendapatan dan Beban Provisi dan Komisi                      aa. Fees and         Commission         Income       and
                                                                          Expenses

         Pendapatan dan beban provisi dan komisi yang                     Fees and commission income and expenses
         merupakan bagian tak terpisahkan dari suku                       that are integral to the effective interest rate on
         bunga efektif aset keuangan atau liabilitas                      a financial asset or liability are included in the
         keuangan dimasukkan ke dalam perhitungan                         measurement of the effective interest rate.
         suku bunga efektif.

         Pendapatan provisi dan komisi yang diperoleh                     Fees and commissions income earned from a
         atas beragam jasa yang diberikan kepada                          range of services rendered to customers are
         nasabah umumnya diakui pada saat                                 normally recognized upon a completion of a
         penyelesaian transaksi. Untuk jasa yang                          transaction. For services provided over a period
         diberikan selama periode waktu tertentu atau                     of time or credit risk undertaken, fees and
         periode risiko kredit yang diterima, provisi dan                 commissions are amortized over the relevant
         komisi diamortisasi selama periode waktu                         period.
         terkait.

     ab. Pendapatan Transaksi Perdagangan - Neto                      ab. Trading Income - Net

         Pendapatan      bersih      instrumen      yang                  Net trading income comprises gains less losses
         diperdagangkan terdiri dari keuntungan                           on derivative assets and liabilities and includes
         dikurangi kerugian atas aset dan liabilitas                      all realized and unrealized fair value changes
         derivatif yang dimiliki untuk diperdagangkan,                    and foreign exchange differences.
         dan termasuk perubahan nilai wajar yang sudah
         ataupun yang belum direalisasi dan selisih kurs.

     ac. Segmen Operasi                                               ac. Operating Segment

         Segmen operasi adalah komponen dari entitas                      An operating segment is a component of an
         yang terlibat dalam aktivitas bisnis yang mana                   entity that engages in business activities from
         memperoleh pendapatan dan menimbulkan                            which it may earn revenues and incur
         beban, termasuk pendapatan dan beban terkait                     expenses, including revenues and expenses
         dengan transaksi dengan komponen lainnya                         that relate to transactions with any of the entity’s
         dari entitas, yang hasil operasinya dikaji ulang                 other components, whose operating results are
         secara berkala oleh pengambil keputusan                          reviewed regularly by the chief operating
         operasional untuk membuat keputusan tentang                      decision maker to make decisions about
         sumber daya yang dialokasikan pada segmen                        resources allocated to the segment and assess
         tersebut dan menilai kinerjanya, dan tersedia                    its performance, and for which discrete
         informasi keuangan yang dapat dipisahkan.                        financial information is available.

         Karena pada saat ini Direksi Bank hanya                          As the Bank’s Board of Directors currently only
         menelaah alokasi aset keuangan tertentu di                       reviews the allocation of certain financial assets
         antara nasabah ritel dan wholesale, tetapi tidak                 amongst retail and wholesale customers, but
         untuk hasil operasi lainnya serta informasi                      not the other operating results and the discrete
         keuangan yang dapat dipisahkan juga tidak                        financial information is also currently
         tersedia    di   Bank,    maka     manajemen                     unavailable within the Bank, the management
         berkeyakinan bahwa Bank pada saat ini                            believes that the Bank is being managed as a
         dikelola sebagai segmen operasi tunggal.                         single operating segment.




                                                            42
Page 223
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


2.   Ikhtisar Kebijakan Akuntansi yang Material                   2.   Summary of           Material     Accounting       Policies
     (lanjutan)                                                        (continued)

     ad. Standar Akuntansi yang Berlaku Efektif                        ad. Accounting     Standards              Effective       on
         Tanggal 1 Januari 2023                                            January 1, 2023

          Berikut amendemen dan penyesuaian atas                             The    following     are   amendments         and
          standar yang berlaku efektif untuk periode yang                    improvements to standards which effective for
          dimulai pada atau setelah 1 Januari 2023,                          periods beginning on or after January 1, 2023,
          dengan penerapan dini diperkenankan yaitu:                         with early adoption is permitted, are as follows:

          x    Amendemen PSAK No. 1, ”Penyajian                              x     Amendement           of   PSAK      No.    1,
               Laporan        Keuangan”          tentang                           “Presentation of Financial Statements”
               pengungkapan kebijakan akuntansi yang                               regarding disclosure of accounting policies
               mengubah istilah ”signifikan” menjadi                               that chnage the term “significant” to
               ”material” dan memberi penjelasan                                   “material” and provide explanations of
               mengenai kebijakan akuntansi material”.                             material accounting policies.
          x    Amandemen PSAK No. 16, “Aset Tetap”                           x     Amendment of PSAK No. 16, “Fixed
               tentang hasil sebelum penggunaan yang                               Assets” regarding proceeds before
               diintensikan.                                                       intended use.
          x    Amandemen PSAK No. 25 “Kebijakan                              x     Amendments of PSAK No. 25, “Accounting
               Akuntansi, Perubahan Estimasi Akuntasi,                             Policies, Changes in Accounting Estimates
               dan Kesalahan” tentang definisi “estimasi                           and Errors” regarding definition of
               akuntansi” dan penjelasannya.                                       “accounting       estimates”     and    their
                                                                                   explanations.
          x    Amandemen PSAK No. 46, “Pajak                                 x     Amendment of PSAK No. 46, “Income Tax”
               Penghasilan” tentang Pajak Tangguhan                                on Deffered Tax related to Assets and
               terkait Aset dan Liabilitas yang timbul dai                         Liabilities arising from a Single Transaction
               Transaksi Tunggal yang diadopsi dari                                which adopted from Amended IAS 12
               Amandemen IAS 12 Income Taxes                                       Income Taxes on Deferred Tax related to
               tentang Deffered Tax related to Assets and                          Assets and Liabilities arising from a Single
               Liabilities  arising     from   a    Single                         Transaction.
               Transaction.

          Implementasi standar-standar tersebut tidak                        The implementation of the above standards had
          memiliki dampak yang signifikan terhadap                           no significant effect on the amounts reported for
          jumlah yang dilaporkan di periode berjalan atau                    the current period or prior financial period.
          periode sebelumnya.

3.   Kebijakan Manajemen Risiko Keuangan dan                      3.   Financial Risk Management                   and     Capital
     Manajemen Modal                                                   Management Policies

     a.   Manajemen Risiko                                             a.    Risk Management

          Secara garis besar, Kebijakan Manajemen                            Generally, the Risk Management Policy refers
          Risiko mengacu pada peraturan Regulator,                           to the Regulatory provision, which the
          dimana penerapannya mencakup 4 pilar                               implementation includes the 4 pilars of risk
          manajemen risiko yang ditetapkan dalam POJK                        management, stipulated in OJK regulation
          No. 18/POJK.03/2016 tentang Penerapan                              No.18/POJK.03/2016      concerning      Risk
          Manajemen Risiko Bagi Bank Umum sebagai                            Management Implementation for Commercial
          berikut:                                                           Banks:

          1.   Pengawasan aktif dari Dewan Komisaris                         1. Active supervision of the Boards of
               dan Direksi;                                                     Commissioners and Directors;
          2.   Kecukupan kebijakan dan prosedur                              2. Adequacy of Risk Management policies,
               Manajemen Risiko serta penetapan limit                           procedures and risk limit stipulation;
               risiko;




                                                             43
Page 224
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                        3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                          Management Policies (continued)

     a.   Manajemen Risiko (lanjutan)                                    a.    Risk Management (continued)

          Secara garis besar, Kebijakan Manajemen                              Generally, the Risk Management Policy refers
          Risiko mengacu pada peraturan Regulator,                             to the Regulatory provision, which the
          dimana penerapannya mencakup 4 pilar                                 implementation includes the 4 pilars of risk
          manajemen risiko yang ditetapkan dalam POJK                          management, stipulated in OJK regulation
          No. 18/POJK.03/2016 tentang Penerapan                                No.18/POJK.03/2016      concerning      Risk
          Manajemen Risiko Bagi Bank Umum sebagai                              Management Implementation for Commercial
          berikut: (lanjutan)                                                  Banks: (continued)

          3.   Kecukupan         proses        identifikasi,                   3.    Adequacy      of   risk    indentification,
               pengukuran,        pemantauan            dan                          measurement, monitoring and controlling
               pengendalian risiko, serta Sistem Informasi                           process, supported by Risk Management
               Manajemen Risiko; dan                                                 Information System; and
          4.   Sistem pengendalian internal yang                               4.    A comprehensive internal control system.
               menyeluruh.

          Untuk mendukung penerapan manajemen                                  To support the implementation of effective risk
          risiko yang efektif, Direksi membentuk komite-                       management, Board of Directors formed
          komite yang membantu kelancaran dan tata                             committees, which help smooth and good
          kelola perusahaan yang sehat dalam lingkup                           corporate governance in the scope of the
          organisasi. Komite yang dibentuk pada level                          organization. One of related Committe at the
          Komisaris salah satunya yaitu Komite                                 Commissioner level is Risk Oversight
          Pemantuan Risiko (ROC), sedangkan pada                               Committee (ROC), whereas at Director level
          level Direksi antara lain Komite Manajemen                           e.g Risk Management Committe (RMC),
          Risiko (RMC), Komite Manajemen Risiko                                Operational Risk Committee (ORC), Asset &
          Operasional (ORC), Komite Aset dan Liabilitas                        Liability Committee (ALCO), Credit Committee
          (ALCO), Komite Kredit (CC) dan lainnya.                              (CC), etc.

     b.   Risiko Kredit                                                  b.    Credit Risk

          Risiko Kredit adalah risiko akibat kegagalan                         Credit Risk is the risk arising from the failure of
          pihak lain dalam memenuhi kewajiban kepada                           counterparties to fulfill its obligations, including
          Bank, termasuk risiko kredit akibat kegagalan                        credit risk due to failure of the debtor, credit
          debitur, risiko konsentrasi kredit, counterparty                     concentration risk, counterparty credit risk, and
          credit risk, dan settlement risk. Manajemen                          settlement risk. Credit risk management is to
          risiko kredit bertujuan untuk memastikan bahwa                       ensure that the credit is granted based on the
          kredit diberikan berdasarkan prinsip pemberian                       principles of sound lending.
          kredit yang sehat.

          Beberapa prinsip utama dalam manajemen                               Some key principles in the management of
          risiko kredit yang ditetapkan Bank antara lain:                      credit risk applied by the Bank are as follows:

          •    Dewan Komisaris dan Direksi bertanggung                         •     Board of Commissioners and Board of
               jawab     atas     efektivitas penerapan                              Directors are responsible for the effective
               manajemen risiko kredit;                                              implementation of credit risk management;
          •    Melakukan pemberdayaan unit-unit kerja                          •     Empower independent work units to
               independen          untuk      melakukan                              perform internal control over the work units
               pengendalian internal atas unit-unit kerja                            associated with the process of granting
               yang terkait dengan proses pemberian                                  credit;
               kredit;
          •    Bank telah memiliki prinsip-prinsip dasar                       •     The Bank has Credit Risk Principles, which
               risiko kredit, yang berguna sebagai acuan                             is used as the basic reference in
               dasar     dalam      menjalankan    fungsi                            performing Credit Risk Management
               Manajemen Risiko Kredit yang tidak boleh                              function which can not be violated;
               dilanggar;



                                                               44
Page 225
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                       3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                         Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                      b.    Credit Risk (continued)

          Beberapa prinsip utama dalam manajemen                              Some key principles in the management of
          risiko kredit yang ditetapkan Bank antara lain:                     credit risk applied by the Bank are as follows:
          (lanjutan)                                                          (continued)

          •   Proses persetujuan kredit dilakukan secara                      •     Loan approval process is done on a
              sentralisasi di Kantor Pusat melalui                                  centralized basis at the Head Office
              pertemuan Komite Kredit untuk kredit yang                             through Credit Committee meeting;
              bernilai besar;
          •   Melakukan identifikasi risiko yang terdapat                     •     Identify the risks inherent in new products
              pada produk dan aktivitas baru;                                       and activities;
          •   Melakukan pengawasan harian terhadap                            •     Conduct daily monitoring of credit arrears,
              tunggakan kredit diatas 7 hari untuk                                  above 7 days to anticipate the non-
              mengantisipasi         terjadinya     kredit                          performing oans, monitor and provide
              bermasalah, memonitor dan memberikan                                  early warning of potential losses due to a
              peringatan dini (early warning) atas potensi                          deterioration in loan collectability;
              kerugian yang disebabkan penurunan
              kolektibilitas kredit;
          •   Melakukan perbaikan kualitas aset                               •     Improve the quality of productive assets,
              produktif, penyebaran risiko portofolio                               credit portfolio risk distribution by ensuring
              kredit dengan memastikan diversifikasi                                diversified loan portfolio in industry sectors
              portofolio kredit di sektor-sektor industri                           and market segments; and
              maupun segmen pasar; dan
          •   Melakukan           restrukturisasi     dan                     •     Conduct restructuring and resolution of
              penyelesaian agunan yang diambil alih.                                foreclosed assets.

          Untuk    mengendalikan dan memelihara                               To control and sustain minimal exposure of
          eksposur risiko kredit pada tingkat minimal yang                    credit risk to the Bank resulting from its loans:
          berasal dari kredit yang diberikan:

          •   Bank telah memiliki sistem deteksi dini                         •     The Bank has early problem detection
              permasalahan melalui ”early alert” dan                                system through “early alert” and disciplined
              pemantauan yang ketat; dan                                            monitoring; and
          •   Seluruh kredit yang diberikan dijamin                           •     All loans are secured by collateral, except
              dengan agunan, kecuali untuk jenis kredit                             for certain loans such as high quality
              tertentu seperti kredit korporasi berkualitas                         corporate loans, personal loans and
              tinggi, kredit perorangan dan fasilitas antar                         interbank loans.
              bank.

          Untuk mengantisipasi adanya risiko kredit yang                      To anticipate the inherent credit risk in debtors’
          melekat pada kegiatan usaha debitur, Bank                           business activities, the Bank needs to review
          perlu menelaah kualitas kredit debitur baru dan                     the credit quality of new debtors and existing
          debitur lama, serta menerapkan peraturan dan                        debtors, and implements the Bank’s regulation
          kebijakan Bank mengenai kriteria penerimaan                         and policy on credit acceptance criteria, which
          kredit, yang mengatur persyaratan minimum                           describes minimum requirements covering
          yang diperlukan, yang mencakup aspek                                owner, management, industry, financial
          pemilik, manajemen, industri, kinerja keuangan,                     performance,          administration          and
          administrasi dan dokumentasi serta agunan.                          documentation and collateral aspects.




                                                              45
Page 226
                                                                           The original financial statements included herein are in
                                                                                                         the Indonesian language.

          PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                       unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                     3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                       Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                    b.    Credit Risk (continued)

          Agar penerapan fungsi manajemen risiko kredit                     In order for the implementation of credit risk
          sejalan dengan risk appetite yang telah                           management function in line with the risk
          ditetapkan, Direksi membentuk Komite Kredit                       appetite set by the Bank, Board of Directors
          yang memiliki fungsi dan tanggung jawab                           established Credit Committee which functions
          sebagai berikut:                                                  and responsibilities are as follows:

          1.   Memberikan persetujuan atau penolakan                        1.    Giving approval or rejection of credit in
               kredit     sesuai     dengan      batas                            accordance with the authority/type of credit
               wewenang/jenis kredit yang ditetapkan                              established by the Board of Directors;
               oleh Direksi;
          2.   Melakukan koordinasi dengan Komite Aset                      2.    To coordinate with Assets and Liabilities
               dan Liabilitas (ALCO) dalam aspek                                  Committee (ALCO) in the aspect of funding
               pendanaan perkreditan                                              available for loan disbursement;
          3.   Memantau pelaksanaan kebijakan kredit;                       3.    Monitor the implementation of the credit
                                                                                  policy;
          4.   Bertindak sebagai penasehat terkait                          4.    Acting as an advisor for credit to related
               dengan hal-hal perkreditan kepada pihak                            parties;
               berelasi;
          5.   Mengembangkan kebijakan kredit Bank;                         5.    Develop Bank’s credit policy; and
               dan
          6.   Mengevaluasi/menilai kinerja dari unit                       6.    Evaluate/assess the performance                of
               bisnis dan unit penelaahan kredit.                                 business unit and credit review unit.

          Pengendalian Batas Risiko dan Kebijakan                           Risk Limit Control and Mitigation Policies
          Mitigasi

          Limit pemberian kredit ditelaah mengikuti Batas                   Lending limits are reviewed in the light of Bank’s
          Maksimum Pemberian Kredit (BMPK) yang                             Legal Lending Limit (LLL) set by Bank based on
          ditetapkan oleh Bank sesuai dengan peraturan                      the applicable regulator’s regulation.
          regulator yang berlaku.

          Bank menerapkan kebijakan untuk memitigasi                        The Bank implements policies to mitigate credit
          risiko kredit dengan mengharuskan adanya                          risk by requiring collateral to secure the
          agunan sebagai jaminan pelunasan kredit jika                      repayment of loan if the main source of debtor’s
          sumber pembayaran utama debitur melalui arus                      payment through cash flows is not fulfilled.
          kas tidak terpenuhi.

          Eksposur maksimum risiko kredit                                   Maximum exposure to credit risk

          Untuk aset keuangan yang diakui di laporan                        For financial assets recognized in the financial
          posisi    keuangan,     eksposur     maksimum                     statement, the maximum exposure to credit risk
          terhadap risiko kredit sama dengan nilai                          is equal to their carrying amount. For bank
          tercatatnya. Untuk bank garansi dan irrevocable                   guarantees and irrevocable L/C issued, the
          L/C yang diterbitkan, eksposur maksimum                           maximum exposure to credit risk is the
          terhadap risiko kredit adalah nilai yang harus                    maximum amount that the Bank would have to
          dibayarkan oleh Bank jika kewajiban atas bank                     pay if the obligations on the bank guarantees
          garansi dan irrevocable L/C yang diterbitkan                      and irrevocable L/C issued are called upon.
          terjadi.




                                                            46
Page 227
                                                                                                  The original financial statements included herein are in
                                                                                                                                the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                              PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                      for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                              unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                           3.    Financial Risk Management and                                Capital
     Manajemen Modal (lanjutan)                                                              Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                                           b.     Credit Risk (continued)

          Eksposur maksimum risiko kredit (lanjutan)                                                Maximum exposure to credit risk (continued)

          Tabel berikut menyajikan eksposur maksimum                                                The following table presents the Bank’s
          Bank terhadap risiko kredit untuk instrumen                                               maximum exposure to credit risk of financial
          keuangan pada laporan posisi keuangan dan                                                 instruments in the statement of financial
          rekening administratif, tanpa memperhitungkan                                             position and off-balance sheet accounts,
          agunan yang dimiliki atau perlindungan kredit                                             without taking into account any collateral held
          lainnya:                                                                                  or other credit enhancement:
                                                                              2023

                                                          Pemerintah
                                                           dan Bank
                                                          Indonesia/
                                                          Government
                                         Korporasi/        and Bank           Bank/               Ritel/
                                         Corporates        Indonesia          Banks               Retail             Total

                                                                                                                                             Current accounts with
          Giro pada Bank Indonesia                    -        543.920                   -                    -         543.920                    Bank Indonesia
          Giro pada bank lain                         -              -             184.104                    -         184.104   Current accounts with other banks
          Penempatan pada Bank                                                                                                     Placements with Bank lndonesia
             Indonesia dan bank lain                  -      1.092.008                  -                     -       1.092.008                   and other banks
          Tagihan derivatif                           -              -                 11                     -              11              Derivative receivables
          Efek-efek yang dibeli dengan                                                                                                  Securities purchased under
             janji dijual kembali                   -        2.977.202                   -                    -       2.977.202             agreements to resell
          Kredit yang diberikan             5.884.315                -                   -               72.109       5.956.424                                Loans
          Efek-efek                                 -          389.952                   -                    -         389.952                           Securities
          Aset lain-lain*)                    183.672                -              55.944                8.361         247.977                       Other assets*)
          Komitmen dan kontinjensi                                                                                                 Commitments and contingencies
             dengan risiko kedit              144.982                  -                 -                    -         144.982                    with credit risk

          Total                             6.212.969        5.003.082             240.059               80.470      11.536.580                               Total

          Persentase                          53,85%           43,47%               2,08%                0,70%         100,00%                          Percentage



                                                                              2022

                                                          Pemerintah
                                                           dan Bank
                                                          Indonesia/
                                                          Government
                                         Korporasi/        and Bank           Bank/               Ritel/
                                         Corporates        Indonesia          Banks               Retail             Total

                                                                                                                                              Current accounts with
          Giro pada Bank Indonesia                    -        919.797                   -                    -         919.797                   Bank tndonesia
          Giro pada bank lain                         -              -             148.380                    -         148.380   Current accounts with other banks
          Penempatan pada Bank                                                                                                     Placements with Bank lndonesia
             Indonesia dan bank lain                -        1.032.898                  -                     -       1.032.898                  and other banks
          Tagihan derivatif                         -                -                108                     -             108              Derivative receivables
          Tagihan akseptasi                   188.512                -                  -                     -         188.512             Acceptance receivables
          Efek-efek yang dibeli dengan                                                                                                  Securities purchased under
             janji dijual kembali                   -        3.072.222                   -                 -          3.072.222             agreements to resell
          Kredit yang diberikan             9.517.620                -                   -           144.630          9.662.250                                Loans
          Efek-efek                                 -          390.013             124.169                 -            514.182                           Securities
          Aset lain-lain*)                     83.807                -             155.505            17.475            256.787                       Other assets*)
          Komitmen dan kontinjensi                                                                                                 Commitments and contingencies
             dengan risiko kedit              128.976                  -                 -                    -         128.976                    with credit risk

          Total                             9.918.915        5.414.930             428.162           162.105         15.924.112                               Total

          Persentase                          62,29%           34,00%               2,69%                1,02%         100,00%                          Percentage



          *)      Aset lain-lain terdiri dari tagihan atas transaksi agunan                         *)     Other assets consist of receivables from foreclosed
                  yang diambil alih, piutang bunga, setoran jaminan, dan                                   assets transactions, interest receivables, security
                  piutang lain-lain                                                                        deposits, and other receivables.




                                                                              47
Page 228
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

          PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                            unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                        3.     Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                            Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                         b.    Credit Risk (continued)

          Eksposur maksimum risiko kredit (lanjutan)                             Maximum exposure to credit risk (continued)

          Tabel di bawah ini menunjukkan net maximum                             The table below shows the net maximum
          exposure (setelah memperhitungkan agunan)                              exposure (after considering collateral) to credit
          atas risiko kredit untuk efek-efek yang dibeli                         risk of securities purchase under agreements to
          dengan janji dijual kembali pada tanggal                               resell as of December 31, 2023 and 2022:
          31 Desember 2023 dan 2022:

                                              Eksposur
                                             maksimum/
                                              Maximum         Agunan/            Eksposur neto/
                                              exposure        Collateral          Net exposure

          2023                                                                                                                     2023
          Efek-efek yang dibeli dengan          2.977.202         3.165.085                    -             Securities purchased under
            janji dijual kembali                                                                                 agreements to resell

          2022                                                                                                                     2022
          Efek-efek yang dibeli dengan                                                                       Securities purchased under
            janji dijual kembali                3.072.222         3.240.000                    -                 agreements to resell



          Untuk      kredit   yang    diberikan,    Bank                         For the loans and receivables, Bank uses the
          menggunakan agunan untuk meminimalkan                                  collateral to minimize the credit risk. Based on
          risiko kredit. Berdasarkan agunan, kredit Bank                         collaterals, the Bank’s loans are classified into
          dapat dibedakan menjadi dua kelompok besar,                            two major category:
          yaitu:
          a. Secured loans; dan                                                  a.    Secured loans; and
          b. Unsecured loans.                                                    b.    Unsecured loans.

          Untuk secured loans, Bank menetapkan jenis                             For secured loans, Bank determined the type
          dan nilai agunan yang dijaminkan sesuai skema                          and value of collateral according to the loan
          kredit. Jenis dari agunan terdiri dari:                                scheme. Types of collateral are as follows:

          a.   Physical collateral, antara lain tanah,                           a.    Physical collateral, such as land, buildings,
               bangunan,        kapal,       mesin-mesin,                              vessels, machines, inventories and
               persediaan dan kendaraan bermotor;                                      vehicles;
          b.   Financial collateral, antara lain simpanan                        b.    Financial collateral, such as deposits
               (tabungan, giro dan deposito berjangka),                                (saving deposits, demand deposits and
               dan surat berharga; dan                                                 time deposits), and securities; and
          c.   Lainnya, antara lain seperti piutang                              c.    Others, for instance account receivables,
               dagang, garansi, garansi pemerintah dan                                 guarantees, government guarantees and
               lembaga penjamin.                                                       guarantee institution.

          Apabila terjadi default (gagal bayar), Bank akan                       At the time of default, Bank will use the
          menggunakan agunan tersebut sebagai pilihan                            collateral as the last resort in recovering its
          terakhir untuk pemulihan kredit.                                       credit.

          Untuk unsecured loans, Bank tidak menetapkan                           For the unsecured loan Bank does not
          jenis dan nilai agunan yang dijaminkan sesuai                          determine the type and value of collateral
          skema kredit. Keputusan pemberian kredit                               according to the loan scheme. The credit
          berdasarkan pada riwayat kredit dari pemohon                           decision is based on the borrower's
          kredit Bank melakukan pemantauan pinjaman                              creditworthiness, rather than by any type of
          setelah realisasi kredit untuk mengetahui                              collateral. Bank to perform the Loan Monitoring
          kualitas dari pinjaman dan/atau perubahan                              after loan disbursements to ensure the loan
          yang    terjadi    sehingga    dapat   segera                          quality and/or condition changes to anticipate
          mengantisipasi hal-hal yang mungkin dapat                              as early possible to the possibilities that may
          merugikan Bank.                                                        harm the Bank.


                                                             48
Page 229
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                       3.    Financial Risk Management and                         Capital
     Manajemen Modal (lanjutan)                                          Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                       b.    Credit Risk (continued)

          Eksposur maksimum risiko kredit (lanjutan)                           Maximum exposure to credit risk (continued)

          Tabel berikut menyajikan komposisi kredit yang                       The following table presents the composition of
          diberikan (sebelum penyisihan kerugian                               loans receivable (before allowance for
          penurunan nilai) yang mendapatkan manfaat                            impairment losses) that benefit from such
          dari agunan, baik sebagian maupun penuh,                             partial or full collateralization as credit risk
          sebagai mitigasi dari risiko kredit:                                 mitigation:

                                               2023                              2022
                                       Rp             %                 Rp                 %
          Dijamin penuh dan sebagian   3.374.897           56,66        5.989.616               61,99       Fully and partially secured
          Tidak memiliki jaminan       2.581.527           43,34        3.672.634               38,01                       Unsecured

          Total                        5.956.424          100,00        9.662.250              100,00                            Total


          Penilaian jaminan dapat dilakukan oleh penilai                       Collateral assessment can be performed by
          eksternal dan/atau penilai internal. Untuk kredit                    external and/or internal appraiser. Loans with
          dengan jumlah plafon debitur/grup debitur lebih                      plafond above Rp10,000, should be assessed
          dari Rp10.000, penilaiannya harus dilakukan                          by external/independent appraiser. Re-
          oleh penilai eksternal/independen. Penilaian                         assessment of collaterals is performed by
          kembali jaminan dilakukan baik oleh penilai                          internal and/or external appraiser every year for
          internal dan/atau eksternal setahun sekali untuk                     performing loan. For non-performing loan, the
          kredit yang performing. Untuk kredit yang non-                       frequency of re-assessment could be
          performing, frekuensi penilaian kembali                              conducted more often. In term of down graded
          dilakukan lebih sering. Untuk kredit yang                            loans, re-assessment should be conducted
          mengalami penurunan grading, maka penilaian                          immediately. Collateral generally is not held
          kembali harus segera dilakukan. Pada                                 over placements with Bank Indonesia and other
          umumnya, agunan tidak dimiliki atas                                  banks and securities.
          penempatan pada Bank Indonesia dan bank
          lain dan efek-efek.

          Proses penentuan peringkat kredit Bank                               The Bank’s credit rating determination
          membedakan eksposur untuk menentukan                                 processes differentiate exposures in order to
          eksposur mana yang memiliki faktor risiko lebih                      highlight those with greater risk factors and
          besar dan tingkat kerugian potensial yang lebih                      higher potential severity of loss. The credit
          tinggi. Peringkat kredit setiap debitur ditelaah                     collectibility for each debtor is reviewed
          secara      berkala      dan     perubahannya                        regularly     and   any    amendments      are
          diimplementasikan secepatnya. Peringkat                              implemented promptly. The credit collectibility
          kredit yang diterapkan atas setiap debitur juga                      applied for each debtor also considered credit
          mempertimbangkan kualitas kredit dari debitur                        quality of the respective debtor as determined
          tersebut yang telah ditentukan oleh bank-bank                        by other banks.
          lain.




                                                              49
Page 230
                                                                                                  The original financial statements included herein are in
                                                                                                                                the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                              PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                      for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                              unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                          3.     Financial Risk Management and                             Capital
     Manajemen Modal (lanjutan)                                                              Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                                           b.    Credit Risk (continued)

          Eksposur maksimum risiko kredit (lanjutan)                                               Maximum exposure to credit risk (continued)

          Pembagian aset keuangan berdasarkan                                                      Distribution of financial assets by their credit
          kualitas kreditnya disajikan di bawah ini:                                               quality is summarised as below:
                                                                               2023

                                         Belum jatuh
                                          tempo dan       Jatuh tempo                          Cadangan
                                             tidak          tapi tidak                          kerugian
                                          mengalami        mengalami                          penurunan
                                          penurunan        penurunan         Mengalami            nilai/
                                         nilai/Neither      nilai/Past       penurunan       Allowance for
                                         past due nor     due but not           nilai/        Impairment
                                           impaired         impaired          Impaired           losses           Total

          Aset pada biaya perolehan
            diamortisasi                                                                                                              Assets at amortized cost
                                                                                                                                           Current accounts with
          Giro pada Bank Indonesia             543.920                   -               -                 -        543.920                    Bank lndonesia
          Giro pada bank lain                  184.104                   -               -               (15)       184.089     Current account with other banks
          Penempatan pada Bank                                                                                                   Placement with Bank Indonesia
             Indonesia dan bank lain          1.092.008                  -               -                   -     1.092.008                  and other banks
          Tagihan akseptasi                                                                                                              Acceptance receivables
          Efek-efek yang dibeli dengan                                                                                               Securities purchased under
             janji dijual kembali             2.977.202               -                -                   -       2.977.202             agreements to resell
          Kredit yang diberikan               5.242.889         667.748           45.787            (507.139)      5.449.285                               Loans
          Efek-efek                             250.030               -                -                   -         250.030                           Securities
          Aset lain-lain*)                      247.977               -                -                   -         247.977                      Other assets*)

          Nilai wajar melalui penghasilan                                                                                              Fair valur through other
             komprehensif lain                                                                                                         comprehensive income
          Efek-efek                            139.922                   -               -                   -      139.922                           Securities

          Aset pada nilai wajar                                                                                                    Assets at fair value through
            melalui laba rugi                                                                                                                   profit or loss
          Tagihan derivatif                          11                  -               -                   -             11            Derivative receivables

                                            10.678.063          667.748           45.787            (507.154)     10.884.444



                                                                               2022

                                         Belum jatuh
                                          tempo dan       Jatuh tempo                          Cadangan
                                             tidak          tapi tidak                          kerugian
                                          mengalami        mengalami                          penurunan
                                          penurunan        penurunan         Mengalami            nilai/
                                         nilai/Neither      nilai/Past       penurunan       Allowance for
                                         past due nor     due but not           nilai/        Impairment
                                           impaired         impaired          Impaired           losses           Total

          Aset pada biaya perolehan
            diamortisasi                                                                                                              Assets at amortized cost
                                                                                                                                           Current accounts with
          Giro pada Bank Indonesia             919.797                   -               -                 -        919.797                    Bank lndonesia
          Giro pada bank lain                  148.380                   -               -               (33)       148.347     Current account with other banks
          Penempatan pada Bank                                                                                                   Placement with Bank Indonesia
             Indonesia dan bank lain          1.032.898                  -               -                 -       1.032.898                  and other banks
          Tagihan akseptasi                     188.512                  -               -              (217)        188.295             Acceptance receivables
          Efek-efek yang dibeli dengan                                                                                               Securities purchased under
             janji dijual kembali             3.072.222               -                -                   -       3.072.222             agreements to resell
          Kredit yang diberikan               9.144.163         481.348           36.739            (406.127)      9.256.123                               Loans
          Efek-efek                             374.343               -                -                (195)        374.148                           Securities
          Aset lain-lain*)                      256.787               -                -                   -         256.787                      Other assets*)

          Nilai wajar melalui penghasilan                                                                                             Fair valur through other
             komprehensif lain                                                                                                        comprehensive income
          Efek-efek                            139.839                   -               -                   -      139.839                            Securities
          Aset pada nilai wajar                                                                                                    Assets at fair value through
             melalui laba rugi                                                                                                                  profit or loss
          Tagihan derivatif                         108                  -               -                   -            108            Derivative receivables

                                            15.277.049          481.348           36.739            (406.572)     15.388.564



          *)    Aset lain-lain terdiri dari tagihan atas transaksi agunan                          *)    Other assets consist of receivables from foreclosed
                yang diambil alih, piutang bunga, setoran jaminan, dan                                   assets transactions, interest receivables, security
                piutang lain-lain                                                                        deposits, and other receivables.



                                                                             50
Page 231
                                                                                         The original financial statements included herein are in
                                                                                                                       the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                     PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                             for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                              (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                     unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                   3.   Financial Risk Management and                         Capital
     Manajemen Modal (lanjutan)                                                     Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                                  b.    Credit Risk (continued)

          Analisis umur kredit yang jatuh tempo tetapi                                    The aging analysis of past due but not impaired
          tidak mengalami penurunan nilai pada tanggal                                    loans as of December 31, 2023 and 2022, are
          31 Desember 2023 dan 2022, sebagai berikut:                                     as follows:
                                                                        2023

                               1 sampai dengan     31 sampai dengan      61 sampai dengan
                                30 hari/1 up to      60 hari/31 up to     90 hari/61 up to
                                   30 days               60 days              90 days                Total

          Modal kerja                   156.360                     -                     -              156.360                    Working capital
          Investasi                      54.103                     -               451.021              505.124                       Investment
          Konsumen                        2.829                 1.679                 1.756                6.264                        Consumer

          Total                         213.292                 1.679               452.777              667.748                             Total

          Cadangan kerugian                                                                                                           Allowance for
            penurunan nilai                                                                             (218.854)               impairment losses

          Neto                                                                                           448.894                               Net


                                                                        2022

                               1 sampai dengan     31 sampai dengan      61 sampai dengan
                                30 hari/1 up to      60 hari/31 up to     90 hari/61 up to
                                   30 days               60 days              90 days                Total

          Modal kerja                    12.488                 5.084                       -             17.572                    Working capital
          Investasi                     449.328                     -                       -            449.328                       Investment
          Konsumen                       14.070                   335                      43             14.448                        Consumer

          Total                         475.886                 5.419                      43            481.348                             Total

          Cadangan kerugian                                                                                                           Allowance for
            penurunan nilai                                                                              (84.355)               impairment losses

          Neto                                                                                           396.993                               Net



          Belum jatuh tempo dan tidak mengalami                                           Neither past due nor impaired
          penurunan nilai

          Eksposur menunjukkan laba yang tinggi atau                                      Exposures exhibit high or stable earnings,
          stabil, modal dan likuiditas yang memadai,                                      adequate capital and liquidity, as generally
          secara umum tercermin dengan pembayaran                                         evidenced by prompt repayment of its
          komitmen terhadap Bank secara tepat waktu.                                      commitment with the Bank. Source of payment
          Sumber pembayaran dapat diidentifikasikan                                       can be clearly identifiable.
          secara jelas.

          Jatuh tempo tetapi          tidak       mengalami                               Past due but not impaired
          penurunan nilai

          Eksposur dimana telah terjadi tunggakan                                         Exposures, for which contractual interest or
          pembayaran pokok atau bunga kontraktual,                                        principal payments are past due, however the
          tetapi Bank berkeyakinan bahwa penurunan                                        Bank believes that individual impairment has
          nilai  individual    belum     terjadi dengan                                   not occurred with consideration of the collateral
          mempertimbangkan agunan yang tersedia                                           pledged and/or the stage of collection of
          dan/atau tingkat tertagihnya jumlah yang masih                                  amounts owned.
          terutang kepada Bank.




                                                                  51
Page 232
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                       3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                         Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                      b.    Credit Risk (continued)

          Mengalami penurunan nilai                                           Impaired

          Eksposur dengan peringkat kurang lancar,                            Exposures with substandard, doubtful and loss
          diragukan dan macet dimana Bank telah                               grading for which the Bank determines that
          menentukan bahwa terdapat bukti objektif                            there is objective evidence of impairment and it
          penurunan nilai dan Bank tidak mengharapkan                         does not expect to collect all principal and
          untuk menerima kembali seluruh nilai pokok                          interest due according to the contractual terms
          dan bunga tertunggak sesuai dengan                                  of the agreement.
          persyaratan kontraktual dalam perjanjian.

          Definisi kualitas kredit debitur dalam                              The definition of the debtor’s credit quality in
          menentukan peringkat kredit sesuai dengan                           determining credit rating is in accordance with
          kualitas kredit yang diatur dalam peraturan OJK                     credit quality stipulated in the prevailing OJK
          yang berlaku, sebagai berikut:                                      regulations, as follows:

          •   Lancar: eksposur menunjukkan laba yang                          •     Current: exposures exhibit high or stable
              tinggi atau stabil, modal dan likuiditas yang                         earnings, adequate capital and liquidity, as
              memadai, secara umum tercermin dari                                   generally evidenced by prompt repayment
              pembayaran komitmen terhadap Bank dan                                 of its commitment with the Bank and other
              kreditur lainnya secara tepat waktu.                                  creditors. Source of payment can be
              Sumber            pembayaran            dapat                         clearly identifiable and the Bank does not
              diidentifikasikan secara jelas dan Bank                               rely on collateral for settlement of the
              tidak bergantung pada jaminan untuk                                   debtor’s future commitments.
              penyelesaian komitmen debitur di masa
              datang.
          •   Dalam perhatian khusus: eksposur                                •     Special mention: exposures require
              memerlukan tingkat pemantauan yang                                    varying degrees of special attention and
              bervariasi dan risiko wanprestasi menjadi                             default risk is of concern.
              perhatian.
          •   Kurang lancar: eksposur dimana nasabah                          •     Substandard: exposures which the debtor
              dalam tahap keterlambatan pembayaran                                  is in the stages of delinquency and has
              dan telah gagal untuk melakukan                                       failed to make a payment on overdue
              pembayaran kewajiban yang lewat jatuh                                 accounts for 91 days up to 120 days, in
              tempo 91 hari sampai dengan 120 hari,                                 accordance with the contractual terms of
              sesuai dengan persyaratan kontraktual                                 the loan agreement.
              dalam perjanjian kredit.
          •   Diragukan: eksposur dimana nasabah                              •     Doubtful: exposures which the debtor is in
              dalam tahap keterlambatan pembayaran                                  the stages of delinquency and has failed to
              dan telah gagal untuk melakukan                                       make a payment on overdue accounts for
              pembayaran kewajiban yang lewat jatuh                                 121 days up to 180 days, in accordance
              tempo 121 hari sampai dengan 180 hari,                                with the contractual terms of the loan
              sesuai dengan persyaratan kontraktual                                 agreement.
              dalam perjanjian kredit.
          •   Macet: eksposur dimana nasabah dalam                            •     Loss: exposures which the debtor is in the
              tahap keterlambatan pembayaran dan                                    stages of delinquency and has failed to
              telah gagal untuk melakukan pembayaran                                make a payment on overdue accounts for
              kewajiban yang lewat jatuh tempo lebih                                more than 180 days, in accordance with
              dari 180 hari, sesuai dengan persyaratan                              the contractual terms of the loan
              kontraktual dalam perjanjian kredit.                                  agreement.




                                                              52
Page 233
                                                                                                  The original financial statements included herein are in
                                                                                                                                the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                              PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                      for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                              unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                           3.    Financial Risk Management and                                 Capital
     Manajemen Modal (lanjutan)                                                              Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                                           b.     Credit Risk (continued)

          Mengalami penurunan nilai (lanjutan)                                                      Impaired (continued)

          Analisa konsentrasi risiko kredit                                                         Concentration of credit risk analysis

          Konsentrasi risiko kredit timbul ketika sejumlah                                          Concentrations of credit risk arise when a
          nasabah menjalankan kegiatan usaha yang                                                   number of customers are engaged in similar
          sejenis atau menjalankan kegiatan usaha                                                   business activities or activities within the same
          dalam wilayah geografis yang sama, atau ketika                                            geographic region, or when they have similar
          nasabah memiliki karakteristik yang sejenis                                               characteristics that would cause their ability to
          yang akan menyebabkan kemampuan mereka                                                    meet contractual obligations to be similarly
          untuk memenuhi kewajiban kontraktualnya                                                   affected by changes in economic or other
          secara serupa dipengaruhi oleh perubahan                                                  conditions.
          kondisi ekonomi atau kondisi lainnya.

          Konsentrasi risiko kredit berdasarkan jenis                                               Concentration of credit risk by type of debtors:
          debitur:
                                                                              2023

                                                          Pemerintah dan
                                                          Bank Indonesia/
                                         Korporasi/       Government and                          Ritel/
                                         Corporate        Bank Indonesia      Bank                Retail             Total

                                                                                                                                              Current accounts with
          Giro pada Bank Indonesia                    -          543.920                 -                    -        543.920                    Bank Indonesia
          Giro pada bank lain                         -                -           184.104                    -        184.104    Current accounts with other banks
          Penempatan pada Bank                                                                                                     Placements with Bank lndonesia
             Indonesia dan bank lain                  -         1.092.008               -                     -       1.092.008                  and other banks
          Tagihan derivatif                           -                 -              11                     -              11              Derivative receivables
          Efek-efek yang dibeli dengan                                                                                                  Securities purchased under
             janji dijual kembali                   -           2.977.202                -                    -       2.977.202             agreements to resell
          Kredit yang diberikan             5.884.315                                                    72.109       5.956.424                                Loans
          Efek-efek                                              389.952                 -                              389.952                            Securities
          Aset lain-lain*)                    183.672                  -            55.944                8.361         247.977                      Other assets*)
          Komitmen dan kontinjensi                                                                                                 Commitments and contingencies
             dengan risiko kedit              144.982                   -                -                    -        144.982                      with credit risk

          Total                             6.212.969           5.003.082          240.059               80.470      11.536.580                                Total

          Persentase                          53,85%              43,37%            2,08%                0,70%         100,00%                           Percentage



                                                                              2022

                                                          Pemerintah dan
                                                          Bank Indonesia/
                                         Korporasi/       Government and                          Ritel/
                                         Corporate        Bank Indonesia      Bank                Retail             Total

                                                                                                                                             Current accounts with
          Giro pada Bank Indonesia                    -          919.797                 -                    -        919.797                    Bank Indonesia
          Giro pada bank lain                         -                -           148.380                    -        148.380    Current accounts with other banks
          Penempatan pada Bank                                                                                                     Placements with Bank lndonesia
             Indonesia dan bank lain                -           1.032.898               -                     -       1.032.898                  and other banks
          Tagihan derivatif                         -                   -             108                     -             108              Derivative receivables
          Tagihan akseptasi                   188.512                   -               -                     -         188.512             Acceptance receivables
          Efek-efek yang dibeli dengan                                                                                                  Securities purchased under
             janji dijual kembali                   -           3.072.222                -                 -          3.072.222             agreements to resell
          Kredit yang diberikan             9.517.620                   -                -           144.630          9.662.250                               Loans
          Efek-efek                                 -             390.013          124.169                 -            514.182                           Securities
          Aset lain-lain*)                     83.807                   -          155.505            17.475            256.787                      Other assets*)
          Komitmen dan kontinjensi                                                                                                 Commitments and contingencies
             dengan risiko kedit              128.976                   -                -                    -        128.976                       with credit risk

          Total                             9.918.915           5.414.930          428.162           162.105         15.924.112                                Total

          Persentase                          62,29%              34,00%            2,69%                1,02%         100,00%                           Percentage



          *)      Aset lain-lain terdiri dari tagihan atas transaksi agunan                         *)      Other assets consist of receivables from foreclosed
                  yang diambil alih, piutang bunga, setoran jaminan, dan                                    assets transactions, interest receivables, security
                  piutang lain-lain                                                                         deposits, and other receivable


                                                                              53
Page 234
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                      3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                        Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                     b.    Credit Risk (continued)

          Mengalami penurunan nilai (lanjutan)                               Impaired (continued)

          Analisa konsentrasi risiko kredit (lanjutan)                       Concentration of credit risk analysis (continued)

          Konsentrasi risiko kredit dari kredit yang                         Concentration of credit risk of loans by type of
          diberikan berdasarkan jenis kredit, valuta dan                     loans, currency and economic sector is
          sektor ekonomi diungkapkan pada Catatan 12.                        disclosed in Note 12.

          Stress Testing                                                     Stress Testing

          Stress Testing adalah metode pengukuran                            Stress Testing is a method of risk measurement
          risiko dengan memperkirakan potensi kerugian                       by estimating the potential economic loss to the
          ekonomi Bank berdasarkan kondisi pasar                             Bank under abnormal market conditions in
          abnormal untuk memastikan sensitivitas kinerja                     order to ascertain the sensitivity of the Bank’s
          Bank terhadap perubahan faktor risiko dan                          performances to changes in risk factors and to
          mengidentifikasi faktor yang mempengaruhi                          identify influencing factors that significantly
          dan berdampak pada pendapatan dan modal                            impact the Bank’s revenue and capital.
          Bank secara signifikan.

          Dalam menghadapi kondisi fluktuasi nilai tukar                     In facing with the fluctuation of rupiah exchange
          rupiah terhadap Dolar Amerika Serikat, Bank                        rate to United States Dollar, Bank has
          telah melakukan stress test terhadap nasabah                       conducted stress test to wholesale customers
          wholesale yang memiliki eksposur kredit valas                      who have foreign currency credit exposure by
          dengan melakukan beberapa skenario kurs.                           conducting several exchange rate scenarios.

          Pandemi Covid-19                                                   Covid-19 Pandemic

          Sejak awal tahun 2020, Badan Nasional                              Starting early 2020, National Agency for
          Penanggulangan Bencana Republik Indonesia                          Disaster Management of the Republic of
          mengumumkan berlakunya “Status Keadaan                             Indonesia announced the enactment of “Status
          Tertentu Darurat Bencana Wabah Virus                               of the Certain Disaster Emergency Conditions
          Corona.” Wabah virus corona menjadi pandemi                        Due to Corona Virus Pandemic”. The corona
          global       yang      berdampak    terhadap                       pandemic, that become global pandemic may
          perekonomian Indonesia dan dunia, khususnya                        had impacted domestic economy, specifically to
          portfolio kredit Bank.                                             the credit portfolio of the Bank.

          Dalam merespon peristiwa tersebut, Bank telah                      In responding to this incident, the Bank has
          melakukan beberapa upaya diantaranya                               made several efforts including the following:
          sebagai berikut:

          1)   Untuk mengurangi dampak portofolio                            1)    To reduce the impact of portfolio due to
               terkait      Covid-19       Bank     telah                          Covid-19, Bank already identified the
               mengidentifikasi industri terdampak yang                            impacted industry and then made
               selanjutnya telah dilakukan penilaian                               assessment to the debtors included in the
               terhadap nasabah yang termasuk dalam                                impacted industry and arranged for the
               industri terdampak dan segera menyusun                              action plan and restructuring scheme to
               rencana tindak, serta skema restrukturisasi                         reduce the impact for the Bank portfolio.
               untuk mengurangi dampak terhadap
               portofolio Bank.
          2)   Bank telah menyusun kebijakan seturut                         2)    Bank has already set the policy in line with
               dengan       program     relaksasi    yang                          OJK’s credit relaxation program which
               dikeluarkan OJK yang berlaku hingga                                 applied until March 31, 2024 according to
               31 Maret 2024 berdasarkan Keputusan                                 OJK       Board       of       Commissioner
               Dewan             Komisioner          OJK                           No.    34/KDK.03/2022         to   anticipate
               No. 34/KDK.03/2022 untuk mengantisipasi                             deterioration for debtors’ finance condition.
               penurunan kondisi kesehatan keuangan
               nasabah.
                                                             54
Page 235
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                       3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                         Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                      b.    Credit Risk (continued)

          Pandemi Covid-19 (lanjutan)                                         Covid-19 Pandemic (continued)

          Dalam merespon peristiwa tersebut, Bank telah                       In responding to this incident, the Bank has
          melakukan beberapa upaya diantaranya                                made several efforts including the following:
          sebagai berikut: (lanjutan)                                         (continued)

          3)   Bank secara berkala mengkaji baik secara                       3)    Regularly Bank perform review both
               individual maupun secara portofolio                                  individual and portfolio wide to Covid-19
               terhadap nasabah yang mengalami                                      impacted debtors.
               dampak Covid-19.

          Informasi Forward Looking                                           Forward Looking Information

          Bank menggunakan model statistik untuk                              The Bank employs statistical models to
          memasukkan variabel makro-ekonomi (MEV)                             incorporate macro-economic variable (MEV) on
          pada tingkat default historis. Metodologi dan                       historical default rates. The methodologies and
          asumsi yang terlibat, termasuk prakiraan                            assumptions involved, including any forecasts
          kondisi ekonomi di masa depan, ditinjau secara                      of future economic conditions, are reviewed
          berkala.                                                            periodically.

          Pengukuran Kerugian Kredit Ekspektasian                             Measurement of Expected Credit Loss (ECL)
          (KKE)

          Input utama ke dalam pengukuran kerugian                            The key inputs into the measurement of
          kredit ekspektasian (KKE) adalah variabel-                          Expected Credit Loss (ECL) are the term
          variabel berikut:                                                   structure of the following variables:
          1) probability of default (PD);                                     1) probability of default (PD);
          2) loss given default (LGD); dan                                    2) loss given default (LGD); and
          3) exposure at default (EAD).                                       3) exposure at default (EAD).

          Parameter ini umumnya berasal dari model                            These parameters are generally derived from
          statistik yang dikembangkan secara internal                         internally developed statistical models and
          dan data historis lainnya. Parameter tersebut                       other historical data. They are adjusted to
          disesuaikan untuk mencerminkan informasi                            reflect forward-looking information as described
          forward-looking seperti yang dijelaskan di atas.                    above.

          Perkiraan PD adalah perkiraan pada tanggal                          PD estimates are estimates at a certain date,
          tertentu, yang dihitung berdasarkan model                           which are calculated based on statistical rating
          peringkat    statistik  mengenai       besarnya                     models regarding the probability/likelihood that
          peluang/kemungkinan akan terjadi gagal bayar                        a default will occur within a certain time frame.
          dalam rentang waktu tertentu. Model statistik ini                   These statistical models are primarily based on
          utamanya didasarkan pada data yang                                  internally compiled data comprising both
          dikompilasi secara internal yang terdiri dari                       quantitative and qualitative factors and are
          faktor kuantitatif dan kualitatif dan dilengkapi                    supplemented by external credit assessment
          dengan data penilaian kredit eksternal jika                         data where available.
          tersedia.

          LGD adalah besarnya kemungkinan kerugian                            LGD is the magnitude of the likely loss if there
          jika terjadi gagal bayar. Bank memperkirakan                        is a default. The Bank estimates LGD
          parameter LGD berdasarkan LGD yang                                  parameters based on the the internally
          dilakukan benchmark secara internal. Model                          benchmark LGD. The LGD models consider the
          LGD mempertimbangkan nilai jaminan yang                             forecasted collateral value and recovery costs
          diperkirakan dan biaya pemulihan dari setiap                        of any collateral that is integral to the financial
          jaminan yang merupakan bagian integral dari                         asset.
          aset keuangan.


                                                              55
Page 236
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                        3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                          Management Policies (continued)

     b.   Risiko Kredit (lanjutan)                                       b.    Credit Risk (continued)

          Pengukuran Kerugian Kredit Ekspektasian                              Measurement of Expected Credit Loss (ECL)
          (KKE) (lanjutan)                                                     (continued)

          EAD mewakili eksposur ekpektasian jika terjadi                       EAD represents the expected exposure in the
          gagal bayar. Bank memperoleh EAD dari                                event of a default. The Bank derives the EAD
          eksposur saat ini terhadap pihak lawan dan                           from the current exposure to the counterparty
          potensi perubahan pada nilai saat ini yang                           and potential changes to the current amount
          diizinkan berdasarkan kontrak termasuk                               allowed under the contract including
          amortisasi. EAD dari aset keuangan adalah nilai                      amortisation. The EAD of a financial asset is its
          tercatat bruto. Untuk komitmen kredit dan                            gross     carrying   amount.    For     lending
          financial guarantees, EAD mencakup jumlah                            commitments and financial guarantees, the
          yang ditarik, serta jumlah potensial yang dapat                      EAD includes the amount drawn, as well as
          ditarik di masa depan berdasarkan kontrak,                           potential future amounts that may be drawn
          yang diperkirakan berdasarkan pengamatan                             under the contract, which are estimated based
          historis dan perkiraan forward-looking.                              on historical observations and forward-looking
                                                                               forecasts.

          Perhitungan cadangan kerugian penurunan                              The expected credit loss (ECL) will be
          nilai akan dihitung sesuai dengan tingkat risiko                     calculated according to the respective level of
          (staging) masing-masing, yaitu dengan 12                             risk (staging), 12 months ECL for stage 1
          bulan kedepan untuk stage 1 (performing),                            (performing), and lifetime ECL for stage 2
          serta selama umur tagihan (lifetime) untuk                           (under performing) and stage 3 (non-
          stage 2 (under performing) dan stage 3 (non                          performing).
          performing).

     c.   Risiko Pasar                                                   c.    Market Risk

          Risiko pasar adalah risiko yang timbul dari                          Market Risk is the risk arising from movement
          pergerakan variabel pasar dalam portofolio                           in market variables in portfolios held by the
          yang dimiliki oleh Bank yang dapat                                   Bank that could incur losses for the Bank
          menimbulkan kerugian bagi Bank (adverse                              (adverse movements). Market variables are
          movement). Variabel pasar didefinisikan                              defined as interest rates and exchange rates
          sebagai suku bunga dan nilai tukar termasuk                          including derivatives of these two type of risks.
          derivatif dari kedua jenis risiko ini. Tujuan dari                   The objective of market risk management is to
          manajemen risiko pasar adalah untuk                                  manage and control market risk exposures
          mengelola dan mengendalikan eksposur risiko                          within acceptable parameters, while optimizing
          pasar dalam parameter yang dapat diterima,                           the return on risk.
          dan secara bersamaan mengoptimalkan hasil
          pengembalian atas risiko yang diterima.

          ALCO Bank yang beranggotakan Direksi dan                             The Bank’s ALCO, which consists of the Board
          beberapa      anggota   manajemen    senior                          of Directors and selected members of senior
          bertanggungjawab       untuk    menetapkan                           management, is responsible for determining
          kebijakan dan strategi pengelolaan risiko                            interest rate risk management policies and
          tingkat suku bunga di banking book, serta                            strategies in banking book and monitoring its
          mengawasi penerapan dalam pelaksanaannya.                            implementation and execution. The main
          Tujuan     utama     ALCO    adalah   untuk                          objective of ALCO is to optimize the Bank’s
          mengoptimalkan hasil usaha Bank dengan                               return within predetermined risk limits.
          tetap memperhatikan limit risiko yang telah
          ditetapkan.




                                                               56
Page 237
                                                                                 The original financial statements included herein are in
                                                                                                               the Indonesian language.

          PT BANK QNB INDONESIA TBK                                             PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                     for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                             unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                        3.      Financial Risk Management and                        Capital
     Manajemen Modal (lanjutan)                                             Management Policies (continued)

     c.   Risiko Pasar (lanjutan)                                           c.    Market Risk (continued)

          Secara keseluruhan, risiko pasar dibagi dalam                           In overall, market risk is divided into the
          risiko-risiko berikut:                                                  following risks:

          i.   Risiko mata uang                                                   i.    Currency risk

               Bank memiliki eksposur risiko mata uang                                  The Bank is exposed to currency risk
               akibat adanya transaksi dalam valuta                                     through transaction in foreign currencies.
               asing. Bank memonitor risiko konsentrasi                                 The Bank monitors any concentration risk
               yang    terjadi   untuk   setiap  valuta                                 in relation to any individual currency in
               sehubungan dengan penjabaran transaksi                                   regard to the translation of foreign currency
               dan aset dan liabilitas moneter dalam                                    transactions and monetary assets and
               valuta asing ke dalam Rupiah.                                            liabilities into Rupiah.

               Sejalan dengan risk appetite yang telah                                  In line with the risk appetite set by the
               ditetapkan oleh Bank, dimana kegiatan                                    Bank, whereby proprietary trading activity
               proprietary trading tidak diperkenankan,                                 is not allowed, hence the currency risk is
               maka risiko mata uang relatif kecil dan                                  minimal and manageable. The Bank’s
               terkendali. Pengelolaan posisi valuta asing                              foreign currency position management is
               Bank       dilakukan     dengan        cara                              conducted by managing the Bank’s overall
               mengendalikan Posisi Devisa Neto                                         Net Open Position (“NOP”).
               (“PDN”) Bank secara keseluruhan.

               PDN pada tanggal 31 Desember 2023 dan                                    NOP as of December 31, 2023 and 2022
               2022 adalah sebagai berikut:                                             are as follows:
                                                                  2023

                                                                                 Posisi Devisa Neto
                                                                                   (nilai absolut)/
                                                Aset/         Liabilitas/        Net Open Position
               Valuta                          Assets         Liabilities        (absolute amount)                           Currencies

               Keseluruhan (laporan posisi                                                                       Aggregate (statement of
                 keuangan dan rekening                                                                            financial position and
                 administratif)                                                                               administrative accounts)
                 Euro Eropa                        29.330            29.329                     1                        European Euro
                 Dolar Amerika Serikat          3.450.969         3.452.105                 1.136                   United States Dollar
                 Dolar Australia                   10.169            10.010                   159                      Australian Dollar
                 Dolar Singapura                   24.207            24.234                    26                      Singapore Dollar
                 Dolar Hong Kong                      113                16                    97                     Hong Kong Dollar
                 Yen Jepang                        62.348            62.350                     2                         Japanese Yen
                 Yen Cina                             150                 -                   150                          Chinese Yen
                 Poundsterling Inggris              5.744             5.741                     2           Great Britain Poundsterling
                 Riyal Qatar                          318                71                   247                           Qatari Riyal
               Total                                                                        1,821                                  Total
               Total modal 31 Desember                                                                         Total capital December 31,
                 2023 (Catatan 3f)                                                      4.250.397                         2023 (Note 3f)
               Rasio PDN                                                                   0,04%                               NOP ratio




                                                             57
Page 238
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                      3.      Financial Risk Management and                        Capital
     Manajemen Modal (lanjutan)                                           Management Policies (continued)

     c.   Risiko Pasar (lanjutan)                                         c.    Market Risk (continued)

          Secara keseluruhan, risiko pasar dibagi dalam                         In overall, market risk is divided into the
          risiko-risiko berikut: (lanjutan)                                     following risks: (continue)

          i.   Risiko mata uang (continued)                                     i.    Currency risk (continued)

               PDN pada tanggal 31 Desember 2023 dan                                  NOP as of December 31, 2023 and 2022
               2022 adalah sebagai berikut: (lanjutan)                                are as follows: (continued)

                                                                2022
                                                                               Posisi Devisa Neto
                                                                                 (nilai absolut)/
                                               Aset/        Liabilitas/        Net Open Position
               Valuta                         Assets        Liabilities        (absolute amount)                           Currencies
               Keseluruhan (laporan posisi                                                                     Aggregate (statement of
                 keuangan dan rekening                                                                          financial position and
                 administratif)                                                                             administrative accounts)
                 Euro Eropa                       24.226           23.985                   241                        European Euro
                 Dolar Amerika Serikat         3.577.802        3.574.455                 3.347                   United States Dollar
                 Dolar Australia                  33.274           33.262                    12                      Australian Dollar
                 Dolar Singapura                  27.892           28.652                   760                      Singapore Dollar
                 Dolar Hong Kong                     179               19                   160                     Hong Kong Dollar
                 Yen Jepang                       27.222           26.836                   386                         Japanese Yen
                 Poundsterling Inggris            32.397           33.401                 1.004           Great Britain Poundsterling
                 Riyal Qatar                         379               82                   297                           Qatari Riyal
               Total                                                                      6.207                                  Total

               Total modal 31 Desember                                                                       Total capital December 31,
                 2022 (Catatan 3f)                                                    4.152.742                         2022 (Note 3f)

               Rasio PDN                                                                 0,15%                               NOP ratio




                                                           58
Page 239
                                                                                                                                                   The original financial statements included herein are in the Indonesian language.

                                 PT BANK QNB INDONESIA TBK                                                                                                    PT BANK QNB INDONESIA TBK
                              CATATAN ATAS LAPORAN KEUANGAN                                                                                               NOTES TO THE FINANCIAL STATEMENTS
                               Tanggal 31 Desember 2023 dan untuk                                                                                              As of December 31, 2023 and
                            Tahun yang Berakhir pada Tanggal Tersebut                                                                                            for the Year Then Ended
                                 (Disajikan dalam jutaan Rupiah,                                                                                             (Expressed in millions of Rupiah,
                                     kecuali dinyatakan lain)                                                                                                    unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan Manajemen Modal (lanjutan)                                                        3.    Financial Risk Management and Capital Management Policies (continued)

     c.   Risiko Pasar (lanjutan)                                                                                                     c.     Market Risk (continued)

          ii.   Risiko tingkat suku bunga                                                                                                    ii.    Interest rate risk

                Kegiatan usaha Bank dipengaruhi oleh risiko fluktuasi suku bunga terhadap aset                                                      The Bank’s operations are subject to the risk of interest rate fluctuations
                berbunga dan liabilitas berbunga (bukan untuk tujuan diperdagangkan) yang                                                           to the extent that interest-earning assets and interest-bearing liabilities
                memiliki jatuh tempo pada saat yang berbeda-beda atau dalam jumlah yang                                                             (not for trading purpose) mature at different times or in different
                beragam.                                                                                                                            amounts.

                Tabel di bawah ini menyajikan aset berbunga dan liabilitas berbunga (bukan                                                          The table below summarizes the Bank’s interest-earning assets and
                untuk tujuan diperdagangkan) Bank pada nilai tercatat, yang dikategorikan                                                           interest-bearing liabilities (not for trading purpose) at carrying amounts,
                menurut sisa jangka waktu sampai dengan tanggal jatuh tempo kontraktual:                                                            categorized by remaining period to contractual maturity dates:
                                                                                                                2023

                                                                               Suku bunga mengambang/                                                      Suku bunga tetap/
                                                                                 Floating interest rate                                                    Fixed interest rate
                                                 Nilai
                                               tercatat/                        >3-12             >1-2                                                   >3-12               >1-2
                                               Carrying       < 3 bulan/       bulan/           tahun/        > 2 tahun/            < 3 bulan/          bulan/             tahun/          > 2 tahun/
                                               amount          months          months            years          years                months             months              years            years

                Penempatan pada                                                                                                                                                                                         Placements with
                   Bank Indonesia                                                                                                                                                                                   Bank Indonesia and
                   dan bank lain                 1.092.008                 -             -                -                -           1.092.008                  -                    -                -                  other banks
                Efek-efek yang dibeli
                   dengan janji dijual                                                                                                                                                                               Securities purchased
                   kembali                       2.977.202               -               -               -               -             1.713.944          1.263.258                    -              -       under agreements to resell
                Kredit yang diberikan - neto     5.449.285         680.139       2.022.823         288.429         490.664                 4.957            116.922              128.677      1.716.674                        Loans - net
                Efek-efek - neto                   389.952               -               -               -               -                     -            250.030              139.922              -                   Securities - net

                                                 9.908.447         680.139       2.022.823         288.429         490.664             2.810.909          1.630.210              268.599      1.716.674

                Simpanan dari nasabah            6.339.203       1.210.798               -                -                -           4.591.440           536.965                     -                -        Deposits from customers
                Simpanan dari                                                                                                                                                                                        Deposits from other
                   bank lain                          1.832                -             -                -                -               1.832                  -                    -                -
                Efek-efek yang dijual dengan                                                                                                                                                                         Securities sold under
                   janji dibeli kembali            385.051                 -             -                -                -             385.051                  -                    -                -        repurchase agreements

                                                 6.726.086       1.210.798               -                -                -           4.978.323           536.965                     -                -

                Neto                             3.182.361        (530.659)      2.022.823         288.429         490.664            (2.167.414)         1.093.245              268.599      1.716.674                               Net




                                                                                                              59
Page 240
                                                                                                                                                 The original financial statements included herein are in the Indonesian language.

                                 PT BANK QNB INDONESIA TBK                                                                                                  PT BANK QNB INDONESIA TBK
                              CATATAN ATAS LAPORAN KEUANGAN                                                                                             NOTES TO THE FINANCIAL STATEMENTS
                               Tanggal 31 Desember 2023 dan untuk                                                                                            As of December 31, 2023 and
                            Tahun yang Berakhir pada Tanggal Tersebut                                                                                          for the Year Then Ended
                                 (Disajikan dalam jutaan Rupiah,                                                                                           (Expressed in millions of Rupiah,
                                     kecuali dinyatakan lain)                                                                                                  unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan Manajemen Modal (lanjutan)                                                      3.    Financial Risk Management and Capital Management Policies (continued)

     c.   Risiko Pasar (lanjutan)                                                                                                   c.     Market Risk (continued)

          ii.   Risiko tingkat suku bunga (lanjutan)                                                                                       ii.    Interest rate risk (continued)
                                                                                                              2022

                                                                             Suku bunga mengambang/                                                      Suku bunga tetap/
                                                                               Floating interest rate                                                    Fixed interest rate
                                                Nilai
                                              tercatat/                       >3-12             >1-2                                                   >3-12               >1-2
                                              Carrying      < 3 bulan/       bulan/           tahun/        > 2 tahun/            < 3 bulan/          bulan/             tahun/          > 2 tahun/
                                              amount         months          months            years          years                months             months              years            years

                Penempatan pada                                                                                                                                                                                       Placements with
                  Bank Indonesia                                                                                                                                                                                  Bank Indonesia and
                  dan bank lain                 1.032.898                -             -                -                -           1.032.898                  -                    -                -                  other banks
                Efek-efek yang dibeli
                  dengan janji dijual                                                                                                                                                                              Securities purchased
                  kembali                       3.072.222              -               -               -               -             1.420.737          1.651.485                    -              -       under agreements to resell
                Kredit yang diberikan. neto     9.256.123        759.804       2.827.652         686.330       2.147.462               149.884            310.551              202.104      2.172.336                        Loans - net
                Efek-efek - neto                  513.987               -               -               -              -               123.974                  -              250.174        139.839                   Securities - net

                                               13.875.230        759.804       2.827.652         686.330       2.147.462             2.727.493          1.962.036              452.278      2.312.175

                Simpanan dari nasabah          10.604.624      2.034.996               -                -                -           6.104.802          2.464.826                    -                -        Deposits from customers
                Simpanan dari                                                                                                                                                                                      Deposits from other
                  bank lain                         7.302              -              -                 -                -               7.302                  -                    -                -                        banks
                Pinjaman yang diterima          1.000.000        340.000        660.000                 -                -                   -                  -                    -                -                     Borrowings

                                               11.611.926      2.374.996        660.000                 -                -           6.112.104          2.464.826                    -                -

                Neto                            2.263.304     (1.615.192)      2.167.652         686.330       2.147.462            (3.384.611)          (502.790)             452.278      2.312.175                               Net




                                                                                                            60
Page 241
                                                                                                     The original financial statements included herein are in
                                                                                                                                   the Indonesian language.

           PT BANK QNB INDONESIA TBK                                                               PT BANK QNB INDONESIA TBK
        CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE FINANCIAL STATEMENTS
         Tanggal 31 Desember 2023 dan untuk                                                         As of December 31, 2023 and
      Tahun yang Berakhir pada Tanggal Tersebut                                                       for the Year Then Ended
           (Disajikan dalam jutaan Rupiah,                                                        (Expressed in millions of Rupiah,
               kecuali dinyatakan lain)                                                               unless otherwise stated)


3.    Kebijakan Manajemen Risiko Keuangan dan                                          3.      Financial Risk Management and                              Capital
      Manajemen Modal (lanjutan)                                                               Management Policies (continued)

      c.     Risiko Pasar (lanjutan)                                                           c.       Market Risk (continued)

             ii.    Risiko tingkat suku bunga (lanjutan)                                                ii.    Interest rate risk (continued)

                    Secara keseluruhan, Bank memiliki aset                                                     In general, the Bank have interest-earning
                    yang sebagian besar suku bunganya dapat                                                    assets that mostly can be adjusted
                    disesuaikan sewaktu-waktu. Kondisi ini                                                     anytime. Therefore, interest rate risk in the
                    menyebabkan risiko suku bunga dalam                                                        banking book is relatively low as the asset
                    banking book relatif rendah karena aset                                                    can be repriced a head from liabilities.
                    dapat dilakukan repricing lebih dulu
                    dibandingkan kewajiban.

                    Tabel di bawah ini mengikhtisarkan kisaran                                                 The tables below summarize the range of
                    suku bunga kontraktual dan suku bunga                                                      contractual interest rates and weighted
                    efektif rata-rata tertimbang setahun pada                                                  average effective interest rates per annum
                    tanggal 31 Desember 2023 dan 2022 untuk                                                    as of December 31, 2023 and 2022 for
                    masing-masing instrumen keuangan:                                                          each financial instrument:
                                                           2023                                         2022

                                           Suku bunga            Rata-rata suku         Suku bunga              Rata-rata suku
                                           kontraktual/          bunga efektif/         kontraktual/            bunga efektif/
                                           Contractual         Average effective        Contractual            Average effective
                                          interest rates         interest rates        interest rates            interest rates

     Aset                                                                                                                                                  Assets
     Rupiah:                                                                                                                                               Rupiah:
     Penempatan pada Bank Indonesia                                                                                                Placements with Bank Indonesia
        dan bank lain                               5,25%                  1,48%                    4,75%                 1,95%                 and other banks
     Efek-efek yang dibeli dengan janji                                                                                                Securities purchased under
        dijual kembali                      6,30% - 6,70%                  6,16%         3,20% - 6,62%                    3,77%           agreements to resell
     Kredit yang diberikan                 2,00% - 35,40%                  9,13%        2,00% - 32,00%                    7,49%                             Loans
     Efek-efek                                                                                                                                          Securities
        Obligasi pemerintah                  6,04%-8,38%                   7,40%         4,79% - 8,38%                    7,40%             Government bonds

     Valuta asing:                                                                                                                            Foreign currencies:
     Penempatan pada Bank Indonesia                                                                                                Placements with Bank Indonesia
        dan bank lain                               5,34%                  4,97%                 4,32%                    1,65%                and other banks
     Kredit yang diberikan                  2,54% - 8,02%                  7,19%         0,00% - 8,73%                    5,34%                            Loans
     Efek-efek                                                                                                                                          Securities
        Wesel SKBDN                                        -               7,82%         4,95% - 5,25%                    4,79%                    SKBDN bills

     Liabilitas                                                                                                                                          Liabilities
     Rupiah:                                                                                                                                                Rupiah:
     Simpanan dari nasabah                                                                                                                Deposits from customers
        Giro                                0,00% - 3,75%                  1,35%         0,00% - 3,75%                    2,32%               Demand deposits
        Tabungan                            0,00% - 5,00%                  1,77%         0,00% - 5,00%                    0,44%                 Saving deposits
        Deposito berjangka dan                                                                                                               Time deposits and
            deposito on call                2,00% - 6,50%                  5,27%         1,50% - 6,50%                    4,29%              on all deposits
     Simpanan dari bank lain                                                                                                            Deposits from other banks
        Giro                                               -               0,36%         0,00% - 3,25%                    1,15%               Demand deposits
        Deposito berjangka dan                                                                                                               Time deposits and
            deposito on call                               -                       -                3,25%                 3,37%                 on call deposits
     Efek-efek yang dijual dengan                                                                                                             Securities sold under
        janji dibeli kembali                        6,70%                  3,92%                      -                        -        repurchase agreements
     Pinjaman yang diterima                              -                 8,72%         7,32% - 7,52%                    5,23%                         Borrowings

     Valuta asing:                                                                                                                             Foreign currencies:
     Simpanan dari nasabah                                                                                                               Deposits from customers
        Giro                                0,00% - 1,25%                  0,15%         0,00% - 1,00%                    0,14%               Demand deposits
        Deposito berjangka dan                                                                                                               Time deposits and
            deposito on call                0,00% - 6,05%                  4,09%            0,00% 4,35%                   0.96%                 on call deposits
     Simpanan dari bank lain                                                                                                            Deposits from othert banks
        Giro                                        0,10%                  0,13%                    0,10%                 0,10%               Demand deposits
        Interbank call money                             -                 2,59%                         -                     -          Interbank call money




                                                                              61
Page 242
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                         3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                           Management Policies (continued)

     c.   Risiko Pasar (lanjutan)                                         c.    Market Risk (continued)

          ii.   Risiko tingkat suku bunga (lanjutan)                            ii.   Interest rate risk (continued)

                Analisa sensitivitas atas risiko tingkat suku                         Sensitivity analysis on interest rate
                bunga

                Pengelolaan risiko tingkat suku bunga                                 The management of interest rate risk is
                dilengkapi dengan pemantauan atas                                     supplemented by monitoring the sensitivity
                sensitivitas terhadap aset dan liabilitas                             of the Bank’s financial assets and liabilities
                keuangan Bank yang memiliki tingkat suku                              which have floating and fixed interest rate
                bunga mengambang dan tetap terhadap                                   to various interest rate scenarios. Standard
                berbagai skenario suku bunga. Skenario                                scenarios that are considered on a
                standar yang dipertimbangkan secara                                   quarterly basis include a 100 basis point
                triwulanan meliputi penurunan atau                                    (bp) parallel fall or rise in all yield curves.
                kenaikan yield curve secara paralel                                   An analysis of the Bank’s sensitivity to
                sebesar 100 basis point (bp). Analisa                                 increase or decrease in market interest
                sensitivitas Bank atas kenaikan atau                                  rates,    assuming        no     asymmetrical
                penurunan tingkat suku bunga pasar,                                   movement in yield curves and a constant
                dengan asumsi tidak terdapat perubahan                                financial position, is as follows: (unaudited)
                asimetris pada yield curve dan posisi
                keuangan yang konstan, adalah sebagai
                berikut: (tidak diaudit)

                                                   100 bp             100 bp
                                              kenaikan/increase penurunan/decrease
                 Kenaikan (penurunan)
                   pada bunga - neto                                                              Increase (decrease) in net interest
                   Tahun yang berakhir pada                                                                   For the year ended
                     tanggal 31 Desember 2023             41.721                (41.721)                     December 31, 2023
                   Tahun yang berakhir pada                                                                   For the year ended
                     tanggal 31 Desember 2022             32.254                (32.254)                     December 31, 2022

     d.   Risiko Likuiditas                                               d.    Liquidity Risk

          Pengelolaan likuiditas Bank ditekankan pada                           The focus of the Bank’s liquidity management
          penyesuaian arus kas masuk dan keluar.                                is to match the cash inflows and cash outflows.
          Kesenjangan arus kas diantisipasi melalui                             The gap between cash flows will be anticipated
          pemeliharaan cadangan likuiditas primer yang                          with the proper maintenance of primary liquidity
          memadai sesuai dengan perkiraan arus kas                              reserve in accordance with proforma cash flows
          dan struktur liabilitas yang ada. Pemeliharaan                        and existing liabilities structure. Maintenance of
          cadangan        likuiditas    primer      meliputi                    primary     liquidity     reserve    consists   of
          pemeliharaan cadangan wajib pada tingkat                              maintenance of reserve requirement that
          yang optimal yang ditetapkan OJK serta                                should be in optimal level based on OJK
          pemeliharaan efek-efek berjangka pendek yang                          regulation and short-term highly liquid
          sangat likuid seperti Sertifikat Bank Indonesia                       securities, such as Certificates of Bank
          dan instrumen operasi moneter Bank Indonesia                          Indonesia and other Bank Indonesia monetary
          lainnya. Bank juga memelihara cadangan                                operation instruments. The Bank also maintains
          likuiditas sekunder yang terdiri dari penempatan                      secondary liquidity reserve, which consists of
          dana jangka pendek di Bank Indonesia serta                            short-term placements with Bank Indonesia and
          efek-efek berjangka panjang yang likuid seperti                       liquid long-term securities such as government
          obligasi pemerintah. Pengelolaan likuiditas juga                      bonds. Liquidity management is also conducted
          dilakukan melalui pengelolaan struktur sumber                         through financial resources structure, such as
          dana dengan menerapkan limit konsentrasi                              by applying the depositor concentration limit
          deposan       dan       berusaha      mengurangi                      and trying to reduce the dependence on high
          ketergantungannya pada dana mahal seperti                             cost fund such as time deposits and replace it
          deposito berjangka dan menggantinya dengan                            with lower cost fund such as demand deposits
          sumber dana murah seperti giro dan tabungan.                          and saving deposits.

                                                                62
Page 243
                                                                                                   The original financial statements included herein are in
                                                                                                                                 the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                                 PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                           As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                         for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                                 unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                             3.   Financial Risk Management and                                    Capital
     Manajemen Modal (lanjutan)                                                               Management Policies (continued)

     d.   Risiko Likuiditas (lanjutan)                                                        d.    Liquidity Risk (continued)

          Bank       juga     senantiasa  memelihara                                                The Bank also maintains its ability to access
          kemampuannya untuk memiliki akses ke pasar                                                money market by maintaining relationship with
          uang dengan selalu memelihara hubungan                                                    correspondent banks. The Bank also regularly
          dengan bank-bank koresponden. Bank juga                                                   monitors all situations above and takes some
          secara berkala memonitor seluruh keadaan di                                               actions to achieve funding diversifications.
          atas dan mengambil tindakan agar terdapat
          diversifikasi pendanaan.

          Eksposur terhadap Risiko Likuiditas                                                       Exposure to Liquidity Risk

          Ukuran utama yang digunakan oleh Bank untuk                                               The key measure used by the Bank for
          mengelola risiko likuiditas adalah rasio LCR                                              managing liquidity risk is LCR (Liquidity
          (Liquidity Coverage Ratio) dan rasio NSFR (Net                                            Coverage Ratio) and NSFR (Net Stable
          Stable Funding Ratio). Rasio yang pertama                                                 Funding Ratio). The first ratio is used to see
          digunakan untuk mengukur kemampuan jangka                                                 short-term resilience of a bank’s liquidity risk
          pendek bank dengan memastikan bahwa bank                                                  profile by ensuring that it has sufficient High
          memiliki cukup aset-aset berkualitas tinggi yang                                          Quality Liquid Asset (HQLA) to survive a
          dapat dilikuidasi sewaktu-waktu untuk dapat                                               significant stress scenario lasting for 30 days.
          bertahan dalam scenario stress selama 30 hari.                                            Meanwhile the second ratio objective is to
          Sementara rasio kedua digunakan untuk                                                     reduce funding risk over a longer time horizon
          mengurangi risiko pendanaan dalam jangka                                                  by requiring banks to fund their activities with
          panjang dimana bank diharapkan mampu                                                      sufficiently stable sources of funding in order to
          membiayai kegiatannya dengan memiliki cukup                                               mitigate the risk of future funding stress. As of
          sumber-sumber dana yang stabil. Posisi NSFR                                               December 31, 2023 and 2022, the reported
          per 31 Desember 2023 dan 2022 adalah                                                      ratios of NSFR customers were 190.59% and
          190,59% dan 146,25%.                                                                      146.25%, respectively.

          Liquidity Coverage Ratio (“LCR”) Bank pada                                                The Bank’s Liquidity Coverage Ratio (“LCR”) as
          tanggal 31 Desember 2023 dan 2022 adalah                                                  of December 31, 2023 and 2022 was as follows:
          sebagai berikut:

                                                               2023                      2022

          LCR Bank                                                465,30%                 400,00%                                                   Bank's LCR
          LCR yang diwajibkan oleh regulator                      100,00%                 100,00%                                      Regulatory required LCR

          Tabel di bawah ini menunjukkan sisa jatuh                                                 The table below shows the remaining
          tempo kontraktual dari liabilitas keuangan                                                contractual maturities of financial liabilities
          berdasarkan pada arus kas yang tidak                                                      based on undiscounted cash flow as of
          didiskontokan pada tanggal 31 Desember 2023                                               December 31, 2023 and 2022:
          dan 2022
                                                                                  2023

                                                          Nilai nominal
                                                         bruto arus kas
                                                              masuk
                                     Nilai tercatat/     (keluar)/Gross      Kurang dari 1
                                       Carrying         nominal inflow      bulan/Less than        1 - 3 bulan/       > 3 -12 bulan/
                                        amount              (outflow)           1 month              months              months

          Liabilitas non-derivatif                                                                                                           Non-derivative liabilities
          Liabilitas segera                  (12.555)            (12.555)            (12.555)                     -                    - Liabilities payable on demand
          Beban masih harus dibayar
            dan liabilitas lain-lain       (232.552)            (232.552)           (232.552)                    -                  -      Accruals and other liabilities
          Simpanan dari nasabah          (6.339.203)          (6.415.294)         (4.234.466)           (1.623.974)          (556.854)        Deposits from customers
          Simpanan dari bank lain            (1.832)              (1.832)             (1.832)                    -                  -       Deposits from other banks
          Efek-efek yang dijual dengan                                                                                                           Securities sold under
            janji dibeli kembali           (385.051)            (386.565)           (386.565)                     -                    -     repurchase agreements

                                         (6.971.193)          (7.048.798)         (4.867.970)           (1.623.974)          (556.854)        Deposits from customers




                                                                             63
Page 244
                                                                                                          The original financial statements included herein are in
                                                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                                       unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                                3.       Financial Risk Management and                                    Capital
     Manajemen Modal (lanjutan)                                                                      Management Policies (continued)

     d.   Risiko Likuiditas (lanjutan)                                                               d.    Liquidity Risk (continued)

          Tabel di bawah ini menunjukkan sisa jatuh                                                        The table below shows the remaining
          tempo kontraktual dari liabilitas keuangan                                                       contractual maturities of financial liabilities
          berdasarkan pada arus kas yang tidak                                                             based on undiscounted cash flow as of
          didiskontokan pada tanggal 31 Desember 2023                                                      December 31, 2023 and 2022: (continued)
          dan 2022: (lanjutan)
                                                                                     2023

                                                             Nilai nominal
                                                            bruto arus kas
                                                                 masuk
                                       Nilai tercatat/      (keluar)/Gross      Kurang dari 1
                                         Carrying          nominal inflow      bulan/Less than            1 - 3 bulan/       > 3 -12 bulan/
                                          amount               (outflow)           1 month                  months              months

          Liabilitas derivatif                                                                                                                           Derivative liabilities
          Diperdagangkan:                       (1.838)                   -                   -                          -                    -                       Trading:
            Arus kas masuk                           -              233.598             233.598                          -                    -               Cash inflows
            Arus kas keluar                          -             (235.436)           (235.436)                         -                    -             Cash outflows

                                                (1.838)              (1.838)                (1.838)                      -                    -

          Total                            (6.973.031)           (7.050.636)         (4.869.808)               (1.623.974)          (556.854)                             Total




                                                                                     2022

                                                             Nilai nominal
                                                            bruto arus kas
                                                                 masuk
                                       Nilai tercatat/      (keluar)/Gross      Kurang dari 1
                                         Carrying          nominal inflow      bulan/Less than            1 - 3 bulan/       > 3 -12 bulan/
                                          amount               (outflow)           1 month                  months              months

          Liabilitas non-derivatif                                                                                                                Non-derivative liabilities
          Liabilitas segera                    (24.028)             (24.028)            (24.028)                         -                  - Liabilities payable on demand
          Liabilitas akseptasi                 (26.336)             (26.336)            (17.639)                   (7.205)             (1.492)          Acceptance payables
          Beban masih harus dibayar
            dan liabilitas lain-lain         (307.767)             (307.767)           (307.767)                        -                  -      Accruals and other liabilities
          Simpanan dari nasabah           (10.604.624)          (11.177.528)         (6.095.002)               (2.432.840)        (2.649.686)       Deposits from customers
          Simpanan dari bank lain              (7.302)               (7.610)             (7.610)                        -                  -       Deposits from other banks
          Pinjaman yang diterima           (1.000.000)           (1.000.000)                  -                  (340.000)          (660.000)                      Borrowing

                                          (11.970.057)          (12.543.269)         (6.452.046)               (2.780.045)        (3.311.178)


          Liabilitas derivatif                                                                                                                           Derivative liabilities
          Diperdagangkan:                           (90)                  -                   -                          -                    -                       Trading:
            Arus kas masuk                            -              26.355              26.355                          -                    -               Cash inflows
            Arus kas keluar                           -             (26.445)            (26.445)                         -                    -             Cash outflows

                                                    (90)               (90)                   (90)                       -                    -

          Total                           (11.970.147)          (12.543.359)         (6.452.136)               (2.780.045)        (3.311.178)                             Total



          Tabel di atas menyajikan arus kas yang tidak                                                     The above table shows the undiscounted cash
          didiskontokan dari liabilitas keuangan Bank                                                      flows on the Bank’s financial liabilities on the
          berdasarkan periode jatuh tempo kontraktual                                                      basis of their earliest possible contractual
          yang paling dekat. Arus kas atas instrumen                                                       maturity. The Bank’s expected cash flows on
          keuangan yang diharapkan Bank bervariasi                                                         these instruments vary significantly from this
          secara signifikan dari analisa ini. Sebagai                                                      analysis. For example, deposits from
          contoh, simpanan dari nasabah diharapkan                                                         customers are expected to maintain a stable or
          memiliki saldo yang stabil atau meningkat.                                                       increasing balance.

          Nilai nominal arus kas masuk (keluar) yang                                                       The nominal inflow (outflow) disclosed in the
          diungkapkan pada tabel di atas menyajikan                                                        above table represents the contractual
          arus kas kontraktual yang tidak didiskontokan                                                    undiscounted cash flows relating to the
          terkait dengan nilai pokok dan bunga dari                                                        principal and interest on the financial liability.
          liabilitas keuangan.



                                                                                64
Page 245
                                                                                                             The original financial statements included herein are in
                                                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                                         unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                                      3.   Financial Risk Management and                                      Capital
     Manajemen Modal (lanjutan)                                                                        Management Policies (continued)

     d.    Risiko Likuiditas (lanjutan)                                                                d.      Liquidity Risk (continued)

           Analisa jatuh              tempo       aset         dan     liabilitas                              Maturity gap analysis of financial assets and
           keuangan                                                                                            liabilities

           Tabel di bawah menganalisa nilai tercatat aset                                                      The table below analysis the carrying amount of
           dan liabilitas keuangan Bank ke dalam                                                               financial assets and liabilities of the Bank into
           kelompok jatuh tempo berdasarkan sisa jangka                                                        maturity time bands based on remaining period
           waktu sampai dengan tanggal jatuh tempo                                                             to contractual maturity dates as of
           kontraktual pada tanggal 31 Desember 2023                                                           December 31, 2023 and 2022:
           dan 2022:
                                                                                       2023

                                                    Tanpa
                                                   tanggal
                                                jatuh tempo
                                                kontraktual/
                                                  Without a
                              Nilai tercatat/    contractual                                           > 3 – 12           >1-2
                                Carrying          maturity         < 1 bulan/       1 -3 bulan/         bulan/            tahun/       > 2 tahun/
                                 amount              date            month           months            months             years          years

     Kas                              24.445           24.445                   -                 -                 -              -                -                        Cash
     Giro pada Bank                                                                                                                                          Current accounts with
        Indonesia                    543.920         543.920                    -                 -                 -              -                -           Bank Indonesia
                                                                                                                                                             Current accounts with
     Giro pada bank lain             184.089         184.089                    -                 -                 -              -                -               other banks
     Penempatan pada                                                                                                                                              Placements with
        Indonesia dan                                                                                                                                       Bank Indonesia and
        bank lain                  1.092.008                   -     1.092.008                    -                 -              -                -               other banks
     Efek-efek yang dibeli
        dengan janji dijual                                                                                                                                  Securities purchased
        kembali                    2.977.202                   -       695.797         1.018.147        1.263.258                  -             -         agreements to resell
     Tagihan derivatif                    11                   -            11                 -                -                  -             -          Derivative receivables
     Kredit yang diberikan         5.449.285                   -       296.254           388.842        2.139.745            417.106     2.207.338                          Loans
     Efek-efek                       389.952                   -             -                 -          250.030            139.922             -                       Securities
     Aset lain-lain*)                247.977                   -       185.215                 -           55.944                  -         6.818                  Other assets*)

     Total asel keuangan          10.908.889         752.454         2.269.285         1.406.989        3.708.977            557.028     2.214.156          Total financial assets

                                                                                                                                                                Liabilities payable
     Liabilitas segera              12.555             12.555                -                 -                  -                -                -                on demand
     Simpanan dari nasabah       6.339.203          1.210.798        2.996.450         1.594.990            536.965                                      Deposits from customers
     Simpanan dari bank lain         1.832              1.832                -                 -                  -                -                -   Deposits from other banks
     Liabilitas derivatif            1.838                  -            1.838                 -                  -                -                -        Derivative payables
     Efek-efek yang dijual
        dengan janji dibeli                                                                                                                                   Securities sold under
        kembali                    385.051                     -       385.051                    -                 -              -                -      repurchase agreements
     Beban masih harus dibayar
        dan liabilitas lain-lain   232.552                     -       232.552                    -                 -              -                - Accruals and other liabilities

     Total liabilitas keuangan     6.973.031        1.225.185        3.615.891         1.594.990            536.965                -                -    Total financial liabilities

     Selisih                       3.935.858         (472.731)       (1.346.606)        (188.001)       3.172.012            557.028     2.214.156                      Difference



      *)   Aset lain-lain terdiri dari tagihan atas transaksi agunan yang                                      *)       Other assets consist of receivables from foreclosed
           diambil alih, piutang bunga, setoran jaminan, dan piutang                                                    assets transactions, interest receivables, security
           lain-lain.                                                                                                   deposits, and other receivables




                                                                                     65
Page 246
                                                                                                             The original financial statements included herein are in
                                                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                                          unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                                                       3.   Financial Risk Management and                                    Capital
     Manajemen Modal (lanjutan)                                                                         Management Policies (continued)

     d.    Risiko Likuiditas (lanjutan)                                                                 d.    Liquidity Risk (continued)

           Analisa jatuh tempo                     aset         dan     liabilitas                            Maturity gap analysis of financial assets and
           keuangan (lanjutan)                                                                                liabilities (continued)

           Tabel di bawah menganalisa nilai tercatat aset                                                     The table below analysis the carrying amount of
           dan liabilitas keuangan Bank ke dalam                                                              financial assets and liabilities of the Bank into
           kelompok jatuh tempo berdasarkan sisa jangka                                                       maturity time bands based on remaining period
           waktu sampai dengan tanggal jatuh tempo                                                            to contractual maturity dates as of
           kontraktual pada tanggal 31 Desember 2023                                                          December 31, 2023 and 2022: (continued)
           dan 2022: (lanjutan)
                                                                                        2022

                                                     Tanpa
                                                    tanggal
                                                 jatuh tempo
                                                 kontraktual/
                                                   Without a
                               Nilai tercatat/    contractual                                           > 3 – 12         >1-2
                                 Carrying          maturity         < 1 bulan/       1 -3 bulan/         bulan/          tahun/       > 2 tahun/
                                  amount              date            month           months            months           years          years

      Kas                              33.354           33.354                   -                 -               -              -                -                        Cash
      Giro pada Bank                                                                                                                                        Current accounts with
         Indonesia                    919.797         919.797                    -                 -               -              -                -           Bank Indonesia
                                                                                                                                                            Current accounts with
      Giro pada bank lain             148.347         148.347                    -                 -               -              -                -               other banks
      Penempatan pada                                                                                                                                            Placements with
         Indonesia dan                                                                                                                                     Bank Indonesia and
         bank lain                  1.032.898                   -     1.032.898                    -               -              -                -               other banks
      Efek-efek yang dibeli
         dengan janji dijual                                                                                                                                Securities purchased
         kembali                    3.072.222                   -       512.242           908.495        1.651.485                -             -         agreements to resell
      Tagihan derivatif                   108                   -           108                 -                -                -             -          Derivative receivables
      Tagihan akseptasi               188.295                   -       131.398             7.790           49.107                -             -         Acceptance receivables
      Kredit yang diberikan         9.256.123                   -       170.246           739.443        3.138.202          888.434     4.319.798                          Loans
      Efek-efek                       513.987                   -                         123.974                -          390.013             -                       Securities
      Aset lain-lain*)                256.787                   -        94.468                 -          155.505                -         6.814                  Other assets*)

      Total asel keuangan          15.421.918        1.101.498        1.941.360         1.779.702        4.994.299        1.278.447     4.326.612          Total financial assets


                                                                                                                                                               Liabilities payable
      Liabilitas segera               24.028            24.028                -                 -                -                -                -                on demand
      Simpanan dari nasabah       10.604.624         2.034.996        3.841.277         2.263.525        2.464.826                -                -    Deposits from customers
      Simpanan dari bank lain          7.302             4.805            2.497                 -                -                -                -   Deposits from other banks
      Liabilitas derivatif                90                 -               90                 -                -                -                -        Derivative payables
      Liabilitas akseptasi            26.336                 -           17.639             7.205            1.492                -                -       Acceptance payables
      Pinjaman yang diterima       1.000.000                 -                -           340.000          660.000                -                -                   Borrowings
      Beban masih harus dibayar
         dan liabilitas lain-lain    307.767                    -       307.767                    -               -              -                - Accruals and other liabilities

      Total liabilitas keuangan 11.970.147           2.063.829        4.169.270         2.610.730        3.126.318                -                -    Total financial liabilities

      Selisih                       3.451.771         (962.331)       (2.227.910)        (831.028)       1.867.981        1.278.447     4.326.612                      Difference



      *)   Aset lain-lain terdiri dari tagihan atas transaksi agunan yang                                     *)       Other assets consist of receivables from foreclosed
           diambil alih, piutang bunga, setoran jaminan, dan piutang                                                   assets transactions, interest receivables, security
           lain-lain.                                                                                                  deposits, and other receivables

     e.    Risiko Operasional                                                                           e.    Operational Risk

           Risiko operasional adalah risiko yang                                                              Operational Risk is the risk caused by by
           disebabkan oleh ketidakcukupan dan/atau tidak                                                      inadequacy and/or failed of internal processes,
           berfungsinya proses internal, kesalahan                                                            human error, system failure or external factors
           manusia, kegagalan sistem atau adanya faktor                                                       affecting the operations of the Bank.
           eksternal yang mempengaruhi operasional
           Bank.




                                                                                      66
Page 247
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                    3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                      Management Policies (continued)

     e.   Risiko Operasional (lanjutan)                              e.    Operational Risk (continued)

          Bank     telah    memiliki  Kerangka    Kerja                    Bank already has Operational Risk Mangement
          Manajemen Risiko Operasional yang menjadi                        Framework that will become standard for
          standar dalam mengelola risiko operasional.                      managing operational risk. Operational Risk
          Kerangka Kerja Manajemen Risiko Operasional                      Framework consists of several components
          ini terdiri dari berbagai komponen seperti                       such as operational risk appetite, structure,
          appetite     risiko  operasional,    struktur,                   governance, policies and procedures. Policies
          governance, kebijakan dan prosedur. Kebijakan                    and procedures related to operational risk are
          dan prosedur yang terkait dengan pengelolaan                     published and reviewed continuously to ensure
          risiko operasional telah diterbitkan dan                         the adequacy of the management of
          diperbaharui secara berkesinambungan untuk                       operational risk. Such policies and procedures
          memastikan kecukupan pengelolaan risiko                          are Operational Risk Management Policy,
          operasional. Diantara kebijakan dan prosedur                     Operational Risk Event Loss Data Management
          tersebut misalnya Kebijakan Manajemen Risiko                     Guidance, Risk and Control Self Assessment
          Operasional, Pedoman Petunjuk Operational                        (RCSA) Procedure, Operational Risk Mitigating
          Risk Event Loss Data Management, Prosedur                        Action Guidance, and Third Party Risk
          Risk and Control Self Assessment (RCSA),                         Management Policy. Three Lines of Defense
          Pedoman Operational Risk Mitigating Action                       Concept is already implemented by the Bank.
          dan Kebijakan Third Party Risk Management.                       This concept explain that there are three lines
          Konsep Pertahanan Tiga Lini juga telah                           of defense in managing risk in which each lines
          diimplementasikan oleh Bank. Konsep ini                          have their own role and responsibilities in
          menjelaskan bahwa terdapat tiga lini                             managing risk.
          pertahanan dalam mengelola risiko dimana
          masing-masing lini memiliki peran dan
          tanggung jawabnya dalam mengelola risiko.

          Bank secara aktif melakukan program                              Bank actively conducts the socialization
          sosialisasi untuk meningkatkan risk awareness                    program to improve risk awareness in order to
          dalam rangka meminimalisir risiko operasional.                   minimize the operational risk. Socialization are
          Sosialisasi dilakukan dalam bentuk e-learning,                   performed in form of e-learning, e-mail blast
          e-mail blast dan tatap muka.                                     and face to face.

          Dalam rangka memitigasi risiko operasional,                      In order to mitigate operational risks, the Bank
          Bank telah menyusun kebijakan anti-fraud                         has developed anti-fraud policy to minimize
          untuk meminimalisir potensi kecurangan                           potential of fraud, which led to the Bank’s
          (fraud), yang akan menyebabkan kerugian                          losses, either caused by external or internal
          Bank, baik dikarenakan kecurangan eksternal                      fraud. Beside, Bank already has whistleblowing
          maupun internal. Selain itu Bank juga telah                      mechanism as a tool to report and escalate
          memiliki mekanisme whistleblowing sebagai                        indication of fraud incident.
          salah satu sarana untuk melaporkan dan
          mengeskalasikan       indikasi     kejadian
          kecurangan.

          Selain itu, Bank telah mengembangkan Risk &                      Beside that, the Bank has developed Risk &
          Control Self Assessment (RCSA) sebagai salah                     Control Self Assessment (RCSA) as tools to
          satu tools untuk mengidentifikasi risiko                         identify operational risk. RCSA and KRI will be
          operasional. Selanjutnya RCSA dan KRI akan                       implemented to all work units gradually. The
          diterapkan ke seluruh unit kerja secara                          Bank also has Incident reporting process which
          bertahap. Bank juga telah memiliki proses                        governs reporting process, monitoring and
          pelaporan Kejadian Risiko Operasional yang                       escalation of operational risk incident.
          mengatur proses pelaporan, monitoring dan
          eskalasi kejadian risiko operasional.




                                                           67
Page 248
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                      unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                    3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                      Management Policies (continued)

     e.   Risiko Operasional (lanjutan)                              e.    Operational Risk (continued)

          Business Continuity Management (BCM)                             Business Continuity Management (BCM)

          BCM adalah proses manajemen secara holistik                      BCM is a holistic management process that
          untuk mengidentifikasi potensi ancaman                           identifies potential impacts that threaten an
          terhadap suatu organisasi dan menimbulkan                        organization and provides a framework for
          dampak terhadap operasional bisnis jika                          building resilience and the capability to respond
          ancaman tersebut terjadi, dan menyediakan                        effectively safeguard the interests of the
          kerangka kerja untuk membangun ketahanan                         stakeholders, reputation, brand and value
          organisasi melalui kemampuan respon yang                         creating activities. The Bank already has BCM
          efektif untuk melindungi kepentingan para                        policy which governs end to end process
          stakeholder, reputasi, brand, dan kegiatan-                      regarding BCM.
          kegiatan penciptaan nilai. Bank telah memiliki
          Kebijakan BCM yang mengatur proses end to
          end terkait dengan BCM.

          Sasaran dari penerapan BCM adalah untuk:                         The goal of the application of BCM is to:

          1.  Memastikan kelanjutan proses dari                            1.    Ensure the continuing process of critical
              fungsi/unit yang kritikal sesuai dengan                            function/unit in accordance with a
              toleransi waktu yang telah ditetapkan saat                         predetermined tolerance time during a
              terjadi krisis atau bencana;                                       crisis or disaster;
          2. Memastikan setiap fungsi/unit yang kritikal                   2.    Ensure each critical function/unit has the
              memiliki strategi pemulihan yang sesuai                            appropriate recovery strategies and can be
              dan dapat diimplementasikan saat terjadi                           implemented during a crisis or disaster;
              krisis atau bencana;
          3. Memastikan ketersediaan sumber daya                           3.    Ensure the availability of human and
              manusia dan material yang dibutuhkan                               material resources required by the bank to
              oleh bank dalam menjalankan bisnis saat                            continue run the business in the event of a
              terjadi krisis atau bencana;                                       crisis or disaster;
          4. Meningkatkan kesadaran de untuk selalu                        4.    Increase awareness of employees to
              siap dalam menghadapi kondisi krisis atau                          always be prepared to deal with a crisis
              bencana;                                                           situation or disaster;
          5. Menjaga sumber daya utama yang                                5.    Keeping the main resources required to
              dibutuhkan dalam mendukung pemulihan                               support the recovery of the Bank’s
              aktivitas Bank;                                                    activities;
          6. Mengurangi dampak terhadap layanan                            6.    Reduce the impact on the Bank’s services;
              Bank;
          7. Mengurangi risiko reputasi;                                   7.  Reducing the risk of reputation;
          8. Meningkatkan kepercayaan publik dan                           8.  Improve public confidence and macro
              sistem keuangan makro;                                           financial system;
          9. Meningkatkan            ketahanan      atau                   9. Increasing the resilience or recovery
              kemampuan pemulihannya; dan                                      capability; and
          10. Menjaga eksistensi Bank.                                     10. Maintain the existence of the Bank.

          Penerapan program-program terkait BCM di                         The implementation of programs related to
          Bank melibatkan seluruh komponen dan                             BCM at Bank involve all components and have
          mendapat dukungan penuh dari manajemen                           the full support of management since the
          sejak dari tahap perencanaan, penyusunan,                        planning stage, the preparation, maintenance,
          pemeliharaan,     pengawasan       sampai                        supervision until perfected.
          penyempurnaannya.




                                                           68
Page 249
                                                                           The original financial statements included herein are in
                                                                                                         the Indonesian language.

          PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                       unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                     3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                       Management Policies (continued)

     e.   Risiko Operasional (lanjutan)                               e.    Operational Risk (continued)

          Komite Manajemen Risiko Operasional                               Operational Risk Management Committee

          Untuk meningkatkan kualitas monitoring dan                        To improve the quality of monitoring and
          pengawasan          terhadap       implementasi                   oversight of operational risk management
          manajemen risiko operasional telah dibentuk                       implementation, Operational Risk Committee
          Komite Manajemen Risiko Operasional sejak                         has been established in February 2018.
          Februari 2018. Secara berkala dilakukan rapat                     Meeting of Operational Risk Committee to
          Komite Manajemen Risiko Operasional untuk                         discuss and make decision on operational risk
          membahas dan mengambil keputusan terkait                          related issues has been conducted on a
          dengan isu-isu risiko operasional.                                periodic basis.

     f.   Manajemen Modal                                             f.    Capital Management

          Bank diwajibkan untuk mentaati Peraturan                          The Bank is required to comply with prevailing
          Otoritas Jasa Keuangan (“POJK”) yang berlaku                      Financial   Service    Authority   Regulation
          dalam hal modal yang diwajibkan regulator.                        (“POJK”) regulation in respect of regulatory
          Pendekatan Bank terhadap pengelolaan modal                        capital. The Bank’s approach to capital
          ditentukan oleh strategi dan persyaratan                          management is driven by the Bank’s strategic
          organisasi Bank, dengan mempertimbangkan                          and organizational requirements, taking into
          peraturan, serta keadaan ekonomi dan                              account the regulatory, economic and
          komersial.                                                        commercial environment.

          Bank      menghitung      kebutuhan      modal                    The Bank calculates its capital requirements
          berdasarkan POJK yang berlaku dimana modal                        using the prevailing POJK where the Bank’s
          yang diwajibkan regulator Bank dianalisa dalam                    regulatory capital is analyzed into two tiers:
          dua tier:

          •   Modal tier 1, meliputi modal ditempatkan                      •     Tier 1 capital, which includes issued and
              dan disetor penuh, dana setoran modal,                              fully paid share capital, advanced capital,
              cadangan umum dan wajib, saldo laba                                 general and legal reserve, retained
              (rugi) dan laba tahun berjalan, laba (rugi)                         earnings and profit (loss) for the year, profit
              tahun lalu, aset tak berwujud dan selisih                           (loss) from prior year, intangible assets,
              kurang antara penyisihan kerugian kredit                            and difference between provision for loan
              dan cadangan kerugian penurunan nilai                               losses and allowance for impairment
              atas aset produktif dan non produktif, aset                         losses for productive asset and non
              pajak tangguhan serta instrumen yang                                productive asset, deffered tax asset and
              memenuhi persyaratan;                                               instruments that fulfills terms;
          •   Modal tier 2, meliputi instrumen modal                        •     Tier 2 capital, which includes capital
              dalam bentuk saham atau lainnya yang                                instruments in the form of shares or others
              memenuhi persyaratan, cadangan umum                                 that fulfills terms, required general
              aset produktif yang wajib dibentuk.                                 provision for productive assets.

          Bank tidak mempunyai modal tambahan lain                          The Bank does not have any other
          yang memenuhi kriteria modal tier 3 sesuai                        supplementary capital which meets the criteria
          dengan POJK yang berlaku.                                         of tier 3 capital under prevailing POJK.




                                                            69
Page 250
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                         unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                       3.   Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                         Management Policies (continued)

     f.   Manajemen Modal (lanjutan)                                    f.    Capital Management (continued)

          Berbagai batasan telah diterapkan untuk                             Various limits are applied to elements of the
          menentukan komponen modal yang diwajibkan                           regulatory capital. The effect of deferred
          oleh regulator. Pengaruh dari pajak tangguhan                       taxation has been excluded in determining the
          telah dikeluarkan dalam menentukan jumlah                           amount of retained earnings for tier 1 capital;
          saldo laba untuk menghitung modal tier 1; 100                       100 percent of the profit for the year before
          persen laba tahun berjalan sebelum aset pajak                       deferred tax asset being included in tier 1
          tangguhan yang dapat diperhitungkan dalam                           capital; and qualifying tier 2 capital cannot
          modal tier 1; dan modal tier 2 tidak boleh                          exceed tier 1 capital. There is also a restriction
          melebihi modal tier 1. Juga terdapat batasan                        on the amount of general allowance for
          jumlah cadangan umum aset produktif yang                            productive assets that may be included as part
          boleh dimasukkan sebagai bagian dari modal                          of tier 2 capital.
          tier 2.

          Aset Tertimbang Menurut Risiko (“ATMR”)                             The Bank’s risk weighted assets (“RWA”) are
          Bank ditentukan berdasarkan persyaratan yang                        determined according to specified requirements
          telah ditentukan yang mencerminkan berbagai                         that seek to reflect the varying levels of risk
          tingkatan risiko yang terkait dengan aset dan                       attached to assets and exposures not
          eksposur yang tidak tercermin dalam laporan                         recognized in the statement of financial
          posisi keuangan. Berdasarkan POJK, Bank                             position. Based on POJK, the Bank needs to
          diharuskan untuk mempertimbangkan risiko                            take into consideration its credit risk, market
          kredit, risiko pasar dan risiko operasional dalam                   risk and operational risk in measuring the RWA.
          mengukur ATMR Bank.

          Kebijakan bank adalah menjaga modal yang                            The Bank’s policy is to maintain a strong capital
          kuat untuk menjaga kepercayaan pemodal,                             base so as to maintain investor, creditor and
          kreditur dan pasar dan untuk mempertahankan                         market confidence and to sustain future
          perkembangan bisnis di masa depan.                                  development of the business. The impact of the
          Pengaruh tingkat modal terhadap tingkat                             level of capital on shareholders’ return is also
          pengembalian ke pemegang saham juga                                 recognized and the Bank also recognizes the
          diperhitungkan dan Bank juga memahami                               need to maintain a balance between the higher
          perlunya menjaga keseimbangan antara tingkat                        returns that might be possible with greater
          pengembalian yang tinggi, yang dimungkinkan                         gearing and the advantages and security level
          dengan gearing yang lebih besar serta                               afforded by a strong capital position.
          keuntungan-keuntungan dan tingkat keamanan
          yang didapat dari posisi modal yang kuat.

          Bank telah mematuhi semua persyaratan modal                         The Bank has complied with all capital
          yang ditetapkan oleh OJK sepanjang tahun.                           requirements set by OJK throughout the year.




                                                              70
Page 251
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


3.   Kebijakan Manajemen Risiko Keuangan dan                      3.     Financial Risk Management and                       Capital
     Manajemen Modal (lanjutan)                                          Management Policies (continued)

     f.   Manajemen Modal (lanjutan)                                     f.    Capital Management (continued)

          Tabel di bawah ini menunjukkan modal dan                             The table below shows the Bank’s capital and
          rasio kewajiban penyediaan modal minimum                             capital adequacy ratio as of December 31, 2023
          Bank     masing-masing     pada    tanggal                           and 2022, are as follows:
          31 Desember 2023 dan 2022 sebagai berikut:

                                                 2023             2022

          Modal tier 1                           4.194.882         4.056.257                                           Tier 1 capital
          Modal tier 2                              55.515            96.485                                           Tier 2 capital
          Total modal yang diwajibkan
            regulator                            4.250.397         4.152.742                                 Total regulatory capital

          Aset tertimbang menurut risiko                                                                      Risk weighted assets
          Risiko kredit                          6.101.747         9.787.220                                            Credit risk
          Risiko pasar                               1.821             6.208                                           Market risk
          Risiko operasional                       726.026           967.133                                       Operational risk
          Total aset tertimbang menurut risiko   6.829.594        10.760.561                             Total risk weighted assets


          Rasio kewajiban penyediaan modal                                                         Capital adequacy ratio for credit
           untuk risiko kredit                     69,66%              42,43%                                                 risk
          Rasio kewajiban penyediaan modal
           untuk risiko kredit dan risiko                                                           Capital adequacy ratio for credit
           operasional                             62,25%              38,61%                              risk and operational risk
          Rasio kewajiban penyediaan modal                                                                Minimum capital adequacy
           minimum untuk risiko kredit, pasar                                                      ratio for credit risk, market risk
           dan operasional                         62,23%              38,59%                                   and operational risk
          Rasio kewajiban penyediaan modal
           minimum yang diwajibkan                  8,00%              8,00%                       Required capital adequacy ratio
          Rasio kewajiban penyediaan modal
           minimum yang diwajibkan menurut                                                         Required capital adequacy ratio
           profil risiko                            9,00%              9,00%                         accordance with risk profile

          Manajemen menggunakan rasio modal yang                               Management uses regulatory capital ratios in
          diwajibkan regulator untuk memantau modal                            order to monitor its capital base, and these
          dan rasio-rasio modal ini tetap menjadi standar                      capital ratios remain the industry standards for
          industri untuk mengukur kecukupan modal.                             measuring capital adequacy. OJK’s approach
          Pendekatan OJK untuk pengukuran ini                                  to such measurement is primarily based on
          terutama berdasarkan pemantauan terhadap                             monitoring the relationship of the capital
          hubungan antara modal yang diwajibkan                                resources requirement based on risk profile to
          berdasarkan profil risiko terhadap modal yang                        available capital resources.
          tersedia.




                                                             71
Page 252
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

          PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                            unless otherwise stated)


4.   Penggunaan Estimasi dan Pertimbangan                             4.   Use of Estimates and Judgments

     Pengungkapan ini merupakan tambahan atas                              These disclosures supplement the commentary on
     pembahasan tentang manajemen risiko keuangan                          financial risk management (Note 3).
     (Catatan 3).

     a.   Sumber utama atas ketidakpastian estimasi                        a.    Key sources of estimation uncertainty

          (i)   Cadangan kerugian penurunan nilai atas                           (i)   Allowances for       impairment losses of
                aset keuangan                                                          financial assets

                Evaluasi atas kerugian penurunan nilai aset                            Allowances for impairment losses of
                keuangan yang dicatat pada biaya                                       financial assets Financial assets accounted
                perolehan diamortisasi dijelaskan di                                   for at amortized cost are evaluated for
                Catatan 2s.                                                            impairment on a basis described in Note
                                                                                       2s.

                Cadangan kerugian penurunan nilai terkait                              The specific counterparty component of
                dengan pihak lawan spesifik dalam seluruh                              the total allowances for impairment applies
                cadangan kerugian penurunan nilai                                      to claims evaluated individually for
                dibentuk atas tagihan yang penurunan                                   impairment      and    is   based     upon
                nilainya dievaluasi secara individual                                  management’s best estimate of the
                berdasarkan estimasi terbaik manajemen                                 present value of the cash flows that are
                atas nilai tunai arus kas yang diharapkan                              expected to be received. In estimating
                akan diterima. Dalam mengestimasi arus                                 these cash flows, management makes
                kas      ini,    manajemen       membuat                               judgments about the counterparty’s
                pertimbangan mengenai kondisi keuangan                                 financial situation and the net realizable
                dari pihak lawan dan nilai bersih yang                                 value of any underlying collateral. Each
                dapat direalisasi dari agunan yang                                     impaired asset is assessed on its merits,
                diterima. Setiap aset yang mengalami                                   and the workout strategy and estimate of
                penurunan nilai dievaluasi, dan strategi                               cash flows considered recoverable are
                penyelesaiannya serta estimasi arus kas                                independently approved by the Credit
                yang dinilai dapat diperoleh kembali secara                            Department.
                independen disetujui oleh Departemen
                Kredit.

                Evaluasi cadangan kerugian penurunan                                   Collectively      assessed        impairment
                nilai secara kolektif meliputi kerugian kredit                         allowances cover credit losses inherent in
                yang melekat pada portofolio tagihan                                   portfolios of claims with similar economic
                dengan karakteristik ekonomi yang serupa                               characteristics when there is objective
                ketika terdapat bukti obyektif bahwa telah                             evidence to suggest that they contain
                terjadi penurunan nilai tagihan dalam                                  impaired claims, but the individual impaired
                portofolio tersebut namun penurunan nilai                              items cannot yet be identified. In assessing
                secara individu belum dapat diidentifikasi.                            the need for collective loan loss
                Dalam menentukan perlunya membentuk                                    allowances,      management         considers
                cadangan kerugian penurunan nilai kredit                               factors such as credit quality, portfolio size,
                secara          kolektif,         manajemen                            credit concentrations and economic
                mempertimbangkan faktor-faktor seperti                                 factors.
                kualitas kredit, besarnya portofolio,
                konsentrasi kredit dan faktor-faktor
                ekonomi.

                Dalam mengestimasi cadangan yang                                       In order to estimate the required
                dibutuhkan, asumsi-asumsi dibuat untuk                                 allowance, assumptions are made to
                menentukan model kerugian bawaan dan                                   define the way inherent losses are
                untuk menentukan parameter input yang                                  modeled and to determine the required
                diperlukan, berdasarkan pengalaman                                     input parameters, based on historical
                historis dan kondisi ekonomi saat ini.                                 experience   and   current  economic
                                                                                       conditions.



                                                                 72
Page 253
                                                                              The original financial statements included herein are in
                                                                                                            the Indonesian language.

          PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                          unless otherwise stated)


4.   Penggunaan         Estimasi     dan    Pertimbangan            4.   Use of Estimates and Judgments (continued)
     (lanjutan)

     a.   Sumber utama atas ketidakpastian estimasi                      a.    Key sources of estimation uncertainty
          (lanjutan)                                                           (continued)

          (i)   Cadangan kerugian penurunan nilai atas                         (i)   Allowances for impairment losses of
                aset keuangan (lanjutan)                                             financial assets (continued)

                Ketepatan dari cadangan ini tergantung                               The accuracy of the allowances depends
                pada seberapa tepat estimasi arus kas                                on how well the estimated future cash
                masa depan untuk menentukan cadangan                                 flows are determined for specific
                individual serta asumsi model dan                                    counterparty allowances and the model
                parameter   yang    digunakan    dalam                               assumptions and parameters used in
                menentukan cadangan kolektif.                                        determining collective allowances.

          (ii) Penentuan nilai wajar                                           (ii) Determining fair values

                Dalam menentukan nilai wajar atas aset                               The determination of fair value for financial
                dan liabilitas keuangan dimana tidak                                 assets and liabilities for which there is no
                terdapat harga pasar yang dapat                                      observable market price requires the use
                diobservasi, Bank harus menggunakan                                  of valuation techniques as described in
                teknik penilaian seperti dijelaskan pada                             Note 2f. For financial instruments that trade
                Catatan 2f. Untuk instrumen keuangan                                 infrequently and have little price
                yang jarang diperdagangkan dan tidak                                 transparency, fair value is less objective,
                memiliki harga yang transparan, nilai                                and requires varying degrees of judgment
                wajarnya menjadi kurang obyektif dan                                 depending on liquidity, concentration,
                karenanya,        membutuhkan        tingkat                         uncertainty of market factors, pricing
                pertimbangan yang beragam, tergantung                                assumptions and other risks affecting the
                pada likuiditas, konsentrasi, ketidakpastian                         specific instrument.
                faktor pasar, asumsi penentuan harga dan
                risiko lainnya      yang mempengaruhi
                instrumen tertentu.

          (iii) Liabilitas imbalan kerja                                       (iii) Obligation for employment benefits

                Penentuan liabilitas imbalan kerja Bank                              The determination of the Bank’s obligation
                bergantung pada pemilihan asumsi yang                                for employment benefits is dependent on
                digunakan oleh aktuaris independen dalam                             its selection of certain assumptions used
                menghitung      jumlah-jumlah   tersebut.                            by the independent actuaries in calculating
                Asumsi tersebut termasuk antara lain,                                such accounts. Those assumptions include
                tingkat diskonto, tingkat kenaikan gaji                              among others, discount rates, annual
                tahunan,    tingkat   pengunduran     diri                           salary increase rate, annual employee
                karyawan tahunan, tingkat kecacatan,                                 turn-over rate, disability rate, retirement
                umur pensiun dan tingkat kematian.                                   age and mortality rate.

          (iv) Pengakuan aset pajak tangguhan                                  (iv) Recognition of deferred tax assets

                Aset pajak tangguhan diakui atas seluruh                             Deferred tax assets are recognized for all
                rugi fiskal yang belum digunakan                                     unused tax losses to the extent that it is
                sepanjang besar kemungkinannya bahwa                                 probable that taxable profit will be available
                penghasilan kena pajak akan tersedia                                 against which the losses can be utilized.
                sehingga rugi fiskal tersebut dapat                                  Significant management estimates are
                digunakan. Estimasi signifikan digunakan                             required to determine the amount of
                oleh manajemen dalam menentukan                                      deferred tax assets that can be recognized,
                jumlah aset pajak tangguhan yang dapat                               based upon the likely timing and the level
                diakui, berdasarkan saat penggunaan dan                              of future taxable profits together with future
                tingkat penghasilan kena pajak dan strategi                          tax planning strategies.
                perencanaan pajak masa depan.



                                                               73
Page 254
                                                                           The original financial statements included herein are in
                                                                                                         the Indonesian language.

          PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                       unless otherwise stated)


4.   Penggunaan        Estimasi      dan   Pertimbangan          4.   Use of Estimates and Judgments (continued)
     (lanjutan)

     a.   Sumber utama atas ketidakpastian estimasi                   a.    Key sources of estimation uncertainty
          (lanjutan)                                                        (continued)

          (iv) Pengakuan      aset    pajak     tangguhan                   (iv) Recognition      of    deferred    tax    assets
               (lanjutan)                                                        (continued)

                Bank menelaah aset pajak tangguhan                                The Bank review their deferred tax assets
                pada setiap tanggal laporan posisi                                at each statement of financial position date
                keuangan dan mengurangi jumlah tercatat                           and reduce the carrying amount to the
                dalam hal tidak adanya lagi kemungkinan                           extent that it is no longer probable that
                bahwa penghasilan kena pajak yang cukup                           sufficient taxable income will be available
                akan tersedia untuk mengkompensasi                                to allow all or part of the deferred tax assets
                sebagian atau seluruh aset pajak                                  to be utilized..
                tangguhan.

          (v) Provisi perpajakan                                            (v) Provision for taxes

                Bank menentukan provisi perpajakan                                The Bank provides for tax provision based
                berdasarkan estimasi atas kemungkinan                             on estimates whether the additional taxes
                adanya tambahan beban pajak. Jika hasil                           will be due. Where the final tax outcome of
                akhir dari hal ini berbeda dengan jumlah                          these matters is different from the amounts
                yang dicatat semula, maka perbedaan                               that were initially recorded, such
                tersebut akan berdampak terhadap                                  differences will impact the profit/loss.
                laba/rugi.

     b.   Pertimbangan akuntansi yang material                        b.    Material accounting judgments in applying
          dalam menerapkan kebijakan akuntansi                              the Bank’s accounting policies
          Bank

          (i)   Nilai wajar dari instrumen keuangan                         (ii) Fair value of financial instrument

                Kebijakan   akuntansi Bank   untuk                                The Bank’s accounting policy on fair value
                pengukuran nilai wajar dibahas di                                 measurements is discussed in Note 2f.
                Catatan 2f.

                Informasi mengenai penentuan nilai wajar                          Information about the determination of fair
                dari instrumen keuangan diungkapkan                               value of financial instruments is disclosed
                pada Catatan 36.                                                  in Note 36.

          (ii) Klasifikasi aset dan liabilitas keuangan                     (ii) Financial asset and liability classification

                Kebijakan akuntansi Bank memberikan                               The Bank’s accounting policies provide
                keleluasaan untuk menetapkan aset dan                             scope for financial assets and liabilities to
                liabilitas keuangan ke dalam berbagai                             be designated on inception into different
                kategori pada saat pengakuan awal sesuai                          accounting     categories    in      certain
                dengan standar akuntansi yang berlaku                             circumstances.
                berdasarkan kondisi tertentu.




                                                            74
Page 255
                                                                         The original financial statements included herein are in
                                                                                                       the Indonesian language.

        PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


5. Kas                                                         5. Cash

                                           2023                2022

   Rupiah                                     19.405              23.407                                               Rupiah
   Valuta asing                                                                                            Foreign currencies
    Dolar Amerika Serikat                         3.732               8.731                             United States Dollar
    Dolar Singapura                               1.308               1.092                                Singapore Dollar
    Dolar Australia                                   -                   8                                Australian Dollar
    Euro Eropa                                        -                 116                                   Europian euro

   Total                                      24.445              33.354                                                 Total


   Pada tanggal 31 Desember 2023 dan 2022, saldo                  As of December 31, 2023 and 2022, total cash in
   kas dalam mata uang Rupiah termasuk jumlah kas                 Rupiah includes cash amount in ATMs of Rp1,278
   pada ATM masing-masing sebesar Rp1.278 dan                     and Rp1,259, respectively.
   Rp1.259.

   Pada tanggal 31 Desember 2023 dan 2022,                        As of December 31, 2023 and 2022, management
   manajemen berkeyakinan bahwa seluruh saldo kas                 believes that all cash can be used and no cash
   dapat digunakan dan tidak terdapat saldo kas yang              balance as collateral.
   dijaminkan.

6. Giro pada Bank Indonesia                                    6. Current Accounts with Bank Indonesia

                                           2023                2022

   Rupiah                                    448.459             809.268                                              Rupiah
   Dolar Amerika Serikat                      95.461             110.529                                  United States Dollar

   Total                                     543.920             919.797                                                 Total


   Bank dipersyaratkan untuk memiliki Giro Wajib                      The Bank is required to maintain minimum statutory
   Minimum (GWM) dalam mata uang Rupiah dalam                         reserves (GWM) in Rupiah for commercial banking,
   kegiatannya sebagai bank umum, serta GWM dalam                     and statutory reserves in foreign currencies for
   mata uang asing dalam kegiatannya melakukan                        foreign exchange transactions.
   transaksi mata uang asing.

   Rasio Giro Wajib Minimum (GWM) pada tanggal                        The minimum statutory reserves ratio (GWM) as of
   31 Desember 2023 dan 2022 adalah sebagai                           December 31, 2023 and 2022 are as follows:
   berikut:

                                                  2023                2022

   Rupiah                                                                                                           Rupiah
      Giro Wajib Minimum Harian               10,08%              9,30%                Daily Minimum Statutory Reserves
      Giro Wajib Minimum Rata-rata             8,84%              9,01%             Average Minimum Statutory Reserves

   Valuta asing                                                                                          Foreign currencies
      Giro Wajib Minimum Harian                4,01%              4,05%                Daily Minimum Statutory Reserves
      Giro Wajib Minimum Rata-rata             4,01%              4,05%             Average Minimum Statutory Reserves

   Penyangga Likuiditas Mikroprudensial                                                     Macroprudential Liquidity Reserve
      d/h Giro Wajib Minimum                  76,35%             42,06%                          d/h Secondary Minimum
      Sekunder                                76,35%             42,06%                               Statutory Reserves




                                                          75
Page 256
                                                                      The original financial statements included herein are in
                                                                                                    the Indonesian language.

          PT BANK QNB INDONESIA TBK                                     PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                               As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                             for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                     unless otherwise stated)


6.   Giro pada Bank Indonesia (lanjutan)                       6.   Current Accounts           with     Bank     Indonesia
                                                                    (continued)

     Rasio GWM pada tanggal 31 Desember 2023 dan                    The calculation of the GWM ratios as of December
     2022 dihitung berdasarkan Peraturan Bank                       31, 2023 and 2022 is based on Bank Indonesia
     Indonesia No. 20/3/PBI/2018 tanggal 29 Maret 2018              regulation (PBI) No. 20/3/PBI/2018 dated March 29,
     yang telah diubah beberapa kali, terakhir dengan               2018, which has been amended several times, the
     PBI No. 24/4/PBI/2022 tanggal 25 Februari 2022.                latest with PBI No. 24/4/PBI/2022 dated February
     PBI tersebut dijelaskan oleh Peraturan Anggota                 25, 2022. The PBI is explained by Regulations of
     Dewan Gubernur (PADG) No. 20/10/PADG/2018                      Members of the Board of Governors (PADG)
     tanggal 31 Mei 2018 sebagaimana telah diubah                   No. 20/10/PADG/2018 dated May 31, 2018 which
     beberapa kali dengan PADG No.20/30/PADG/2018                   has been amended several times with PADG
     tanggal     30     November      2018,     PADG                No. 20/30/PADG/2018 dated November 30, 2018,
     No. 21/14/PADG/2019 tanggal 26 Juni 2019                       PADG No. 21/14/PADG/2019 dated June 26, 2019
     sebagaimana telah diubah beberapa kali dengan                  which has been amended several times with PADG
     PADG No. 21/27/PADG/2019 tanggal 26 Desember                   No. 21/27/PADG/2019 dated December 26, 2019,
     2019, PADG No. 22/2/PADG/2020 tanggal 13 Maret                 PADG No. 22/2/PADG/2020 dated March 13 2020
     2020, PADG No. 22/10/PADG/2020 tanggal 30 April                PADG No. 22/10/PADG/2020 dated April 30, 2020,
     2020, PADG No. 22/19/PADG/2020 tanggal 29 Juli                 PADG No. 22/19/PADG/2020 dated July 29, 2020,
     2020,    PADG     No.23/27/PADG/2021      tanggal              PADG No.23/27/PADG/2021 dated December 21,
     21 Desember 2021, PADG No. 24/3/PADG/2022                      2021, PADG No. 24/3/PADG/2022 dated March 1,
     tanggal 1 Maret 2022, PADG No. 24/8/PADG/2022                  2022, PADG No. 24/8/PADG/2022 dated June 30,
     tanggal 30 Juni 2022, PADG No. 2 Tahun 2023                    2022, PADG No. 2 year of 2023 dated March 24,
     tanggal 24 Maret 2023 dan perubahan terakhir pada              2023 and the latest amendment by PADG No.12
     PADG No. 12 Tahun 2023 tanggal 1 Oktober 2023                  year of 2023 dated October 1, 2023 regarding
     tentang “Giro Wajib Minimum dalam Rupiah dan                   “Minimum Statutory Reserve Requirements in
     Valuta Asing bagi Bank Umum Konvensional, Bank                 Rupiah and Foreign Currencies of Conventional
     Umum Syariah, dan Unit Usaha Syariah”.                         Commercial Banking, Sharia Commercial Banking
                                                                    and Sharia Business Units”.

     Pada tanggal-tanggal 31 Desember 2023 dan 2022,                As of December 31, 2023 and 2022, The Bank must
     Bank juga harus memenuhi Peraturan Bank                        also comply with Bank Indonesia Regulation (PBI)
     Indonesia (PBI) No. 20/4/PBI/2018 tanggal 29 Maret             No. 20/4/PBI/2018 dated March 29, 2018 regarding
     2018 tentang “Rasio Intermediasi Makroprudensial               “Macroprudential Intermediation Ratios and
     dan Penyangga Likuiditas Makroprudensial bagi                  Macroprudential Liquidity Buffers for Conventional
     Bank Umum Konvensional, Bank Umum Syariah,                     Commercial Banks, Sharia Commercial Banks, and
     dan Unit Usaha Syariah” sebagaimana telah diubah               Sharia Business Unit” which has been amended
     dengan     PBI    No.    21/12/PBI/2019    tanggal             with PBI 21/12/PBI/2019 dated November 25, 2019,
     25 November 2019, PBI No. 22/17/PBI/2020 tanggal               PBI No. 22/17/PBI/2020 dated September 30, 2020
     30 September 2020, dan PBI No.24/16/PBI/2022                   and PBI 24/16/PBI/2022 dated November 1, 2022,
     tanggal 1 November 2022 yang dijelaskan melalui                which      is    explained      through      PADG
     Peraturan       Anggota      Dewan       Gubernur              No. 21/22/PADG/2019 dated November 28, 2019
     No.21/22/PADG/2019 tanggal 28 November 2019                    which    has    been amended         with PADG
     yang      telah     diubah       dengan     PADG               No. 21/11/PADG/2020 dated April 29, 2020, PADG
     No. 21/11/PADG/2020 tanggal 29 April 2020, PADG                No. 22/30/PADG/2020 dated October 5, 2020,
     22/30/PADG/2020 tanggal 5 Oktober 2020, PADG                   PADG No. 23/7/PADG/2021 dated April 26, 2021,
     No. 23/7/PADG/2021 tanggal 26 April 2021, PADG                 PADG No. 23/31/PADG/2021 dated December 31,
     No. 23/31/PADG/2021 tanggal 31 Desember 2021                   2021     and    the    latest    amendment      by
     dan         perubahan         terakhir      PADG               PADG 24/14/PADG/2022 dated November 1, 2022
     No. 24/14/PADG/2022 tanggal 1 November 2022                    concerning “Macroprudential Intermediation Ratio
     tentang “Rasio Intermediasi Makroprudensial dan                and    Macroprudential     Liquidity   Buffer   for
     Penyangga Likuiditas Makroprudensial bagi Bank                 Conventional     Commercial       Banks,     Sharia
     Umum Konvensional, Bank Umum Syariah, dan Unit                 Commercial Banks, and Sharia Business Units”.
     Usaha Syariah”.




                                                          76
Page 257
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

          PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                        unless otherwise stated)


6.   Giro pada Bank Indonesia (lanjutan)                        6.     Current Accounts            with     Bank     Indonesia
                                                                       (continued)
     Bank Indonesia melakukan penguatan kebijakan                      Bank Indonesia has strengthened incentive policy to
     insentif untuk mendorong peranan perbankan dalam                  stimulate the role of banks in financing priority
     pembiayaan kepada sektor prioritas sesuai                         sectors in accordance with Bank Indonesia
     Peraturan Bank Indonesia (PBI) No. 24/5/PBI/2022                  Regulation (PBI) No. 24/5/PBI/2022 regarding
     tentang Insentif bagi Bank yang Memberikan                        Incentives for Banks Providing Funds for Certain
     Penyediaan Dana untuk Kegiatan Ekonomi Tertentu                   and        Inclusive    Economic       Activities    dated
     dan Inklusif tanggal 25 Februari 2022, sebagaimana                February 25, 2022, as further regulated through
     diatur      lebih     lanjut     melalui     PADG                 PADG No. 24/4/PADG/2022 dated March 1, 2022
     No. 24/4/PADG/2022 tanggal 1 Maret 2022                           as amended by the latest amendment of PADG
     sebagaimana telah diubah dengan perubahan                         No. 1 of 2023 dated February 15, 2023, and the
     terakhir PADG No. 1 Tahun 2023 tanggal                            latest amendment by PADG No. 11 year of 2023
     15 Februari 2023 dan perubahan terakhir PADG                      dated September 27, 2023 regarding “Regulations
     No. 11 tahun 2023 tanggal 27 September 2023                       for      Implementing       Macroprudential       Liquidity
     tentang “Peraturan Pelaksanaan Kebijakan Insentif                 Incentive Policy” Bank Indonesia provides
     Likuiditas Makroprudensial” Bank Indonesia                        incentives in the form of leniency on the obligation
     memberikan insentif berupa kelonggaran atas                       to fulfill the statutory reserve in rupiah which must be
     kewajiban pemenuhan GWM dalam rupiah yang                         fulfilled on a daily basis of 0.70%. This incentive is
     wajib dipenuhi secara harian sebesar 0,70. Insentif               given to Banks that provide funds for certain and
     bagi Bank yang melakukan penyediaan dana untuk                    inclusive economic activities as stipulated by Bank
     kegiatan ekonomi tertentu dan inklusif ditetapkan                 Indonesia and are valid from December 1, 2023 to
     oleh Bank Indonesia dan berlaku mulai 1 Desember                  February 29, 2024.
     2023 sampai dengan 29 Februari 2024.
     Pada tanggal 31 Desember 2023 dan 2022, sesuai                    As of December 31, 2023 and 2022, based on the
     dengan ketentuan Bank Indonesia tersebut di atas,                 above Bank Indonesia regulations, The Bank is
     Bank harus memenuhi persyaratan GWM Primer                        required to maintain primary GWM and PLM. The
     dan PLM. Persentase persyaratan adalah sebagai                    percentage requirements are as follows:
     berikut:
                                               2023             2022

     Rupiah                                                                                                          Rupiah
        Giro Wajib Minimum Primer                  9,00%             9,00%            Primary Minimum Statutory Reserves

     Valuta Asing                                                                                           Foreign Currency
        Giro Wajib Minimum                         4,00%             4,00%                     Minimum Statutory Reserves

     Penyangga Likuiditas Makroprudensial                                                    Macroprudential Liquidity Reserve
        d/h Giro Wajib Minimum                     6,00%             6,00%                 d/h Minimum Statutory Reserves

     GWM Primer adalah simpanan minimum yang wajib                     Primary Minimum Statutory Reserve is a minimum
     dipelihara oleh Bank dalam bentuk saldo Rekening                  reserve that should be maintained by the Bank in
     Giro pada Bank Indonesia. GWM Sekunder dan                        Current Accounts with Bank Indonesia. Secondary
     Penyangga Likuiditas Makroprudensial (PLM)                        Minimum Statutory Reserve and Macroprudential
     adalah cadangan minimum yang wajib dipelihara                     Liquidity Buffer are the minimum reserves that
     oleh Bank berupa Sertifikat Bank Indonesia (SBI),                 should be maintained by the Bank which comprise
     Surat Utang Negara (SUN), Surat Berharga Syariah                  of Certificates of Bank Indonesia (SBI), Government
     Negara (SBSN) dan/atau excess reserve yang                        Debenture Debt (SUN), Sharia Government
     merupakan kelebihan saldo Rekening Giro Rupiah                    Securities (SBSN), and/or excess reserve which
     dari GWM Primer, GWM LFR dan Rasio                                represents the excess reserve of the Bank Current
     Intermediasi Makroprudensial (RIM). GWM LFR dan                   Accounts in Rupiah over the Primary Minimum
     RIM adalah tambahan simpanan minimum yang                         Statutory Reserve, Minimum Statutory Reserve on
     wajib dipelihara oleh Bank dalam bentuk saldo                     LFR and Macroprudential Intermediation Ratio
     Rekening Giro pada Bank Indonesia, jika LFR dan                   (RIM). Minimum Statutory Reserve on LFR and RIM
     RIM target Bank Indonesia (84%) atau jika di atas                 is the additional reserve that should be maintained
     maksimum LFR dan RIM target BI (94%) dan                          by the Bank in the form of Current Accounts with
     Kewajiban Penyediaan Modal Minimum (KPMM)                         Bank Indonesia, if the Bank and its subsidiaries’ LFR
     Bank lebih kecil dari KPMM Insentif BI sebesar 14%.               and RIM is below the minimum of LFR and RIM
                                                                       targeted by Bank Indonesia (84%) or if the Bank
                                                                       LFR and RIM is above the maximum of LFR and
                                                                       RIM targeted by BI (94%) and the Capital Adequacy
                                                                       Ratio (CAR) is below BI requirement of 14%.
                                                           77
Page 258
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                           unless otherwise stated)


6.   Giro pada Bank Indonesia (lanjutan)                           6.     Current Accounts            with     Bank      Indonesia
                                                                          (continued)

     Pada tanggal 31 Desember 2023 dan 2022, Bank                         As of December 31, 2023 and 2022 , the Bank has
     telah memenuhi ketentuan Peraturan Bank                              fulfilled Bank Indonesia’s prevailing regulation
     Indonesia yang berlaku tentang GWM Bank Umum.                        regarding GWM of Commercial Banks.

     Pada tanggal 31 Desember 2023 dan 2022, tidak                        As of December 31, 2023 and 2022, there are no
     ada giro pada Bank Indonesia yang dijadikan                          current accounts with Bank Indonesia pledged as
     jaminan.                                                             collateral.

7.   Giro pada Bank Lain                                           7.     Current Accounts with Other Banks

                                               2023                2022

     Rupiah                                                                                                             Rupiah
       Pihak ketiga:                                                                                           Third parties:
          PT Bank Permata Tbk                     10.984                 10.000                    PT Bank Permata Tbk
          PT Bank Central Asia Tbk                 7.624                  5.589                 PT Bank Central Asia Tbk
          PT Bank CIMB Niaga Tbk                   3.454                  4.345                 PT Bank CIMB Niaga Tbk
          PT Bank Mandiri (Persero) Tbk              330                    276            PT Bank Mandiri (Persero) Tbk
          Standard Chartered Bank Jakarta             25                     25          Standard Chartered Bank Jakarta
          PT Bank Tabungan Negara                                                             PT Bank Tabungan Negara
             (Persero) Tbk                                -                  2                         (Persero) Tbk

        Total - Rupiah                            22.417                 20.237                                  Total - Rupiah


     Valuta asing                                                                                            Foreign currencies
        Pihak berelasi:                                                                                       Related parties:
           Qatar National Bank (Q.P.S.C.)                                                  Qatar National Bank (Q.P.S.C.)
              Qatar (Catatan 38)                       282                 338                        Qatar (Note 38)

        Pihak ketiga:                                                                                          Third parties:
          Standard Chartered Bank - New York      77.218                 35.137      Standard Chartered Bank - New York
          Bank Mizuho Ltd., Tokyo                 31.723                 13.811                 Bank Mizuho Ltd., Tokyo
          JP Morgan Chase Bank - Frankfurt        14.679                 12.181        JP Morgan Chase Bank - Frankfurt
          JP Morgan Chase Bank - New York         13.315                 17.754       JP Morgan Chase Bank - New York
          United Overseas Bank Ltd.,                                                          United Overseas Bank Ltd.,
             Singapura                                9.143              12.218                           Singapore
          ANZ Banking Group Ltd., Australia           5.165              16.643         ANZ Banking Group Ltd., Australia
          PT Bank Mandiri (Persero) Tbk               4.326               1.659            PT Bank Mandiri (Persero) Tbk
          Standard Chartered Bank -                                                           Standard Chartered Bank -
             Singapura                                2.311                 809                           Singapore
          Standard Chartered Bank - London            1.889              15.698        Standard Chartered Bank - London
          PT Bank Central Asia Tbk                    1.298               1.726                PT Bank Central Asia Tbk
          PT Bank ICBC Indonesia                        150                   -                 PT Bank ICBC Indonesia
          United Overseas Bank Ltd. -                                                        United Overseas Bank Ltd. -
             Hong Kong                                 105                 169                           Hong Kong
          JP Morgan Chase Bank - London                 83                   -           JP Morgan Chase Bank - London

     Total - valuta asing                        161.687                128.143                       Total - foreign currencies

     Total                                       184.104                148.380                                           Total

     Cadangan kerugian penurunan nilai                 (15)                 (33)              Allowance for impairment losses

     Neto                                        184.089                148.347                                             Net


     Manajemen Bank berkeyakinan bahwa jumlah                             The Bank’s management believes that the
     cadangan kerugian penurunan nilai yang dibentuk                      allowance for impairment losses provided is
     cukup untuk menutupi kemungkinan penurunan nilai                     adequate to cover any possible impairment on
     giro pada bank lain.                                                 current accounts with other banks.




                                                              78
Page 259
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

          PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                            unless otherwise stated)


7.   Giro pada Bank Lain (lanjutan)                                   7.   Current Accounts with Other Banks (continued)

     Pada tanggal 31 Desember 2023 dan 2022, tidak                         As of December 31, 2023 and 2022, there are no
     ada giro pada bank lain yang dijadikan jaminan.                       current accounts with other banks pledged as
                                                                           collateral.

     Perubahan nilai tercatat bruto adalah sebagai                         The movements in the gross carrying amount are as
     berikut:                                                              follows:

                                    Tahap 1/          Tahap 2/        Tahap 3/         Jumlah/
                                    Stage 1           Stage 2         Stage 3           Total

     31 Desember 2021                   275.614                   -              -          275.614              December 31, 2021

     Aset baru                           19.306                   -              -           19.306            New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                                                                            Assets derecognized or repaid
      hapus buku)                             -                   -              -                -               (exclude write off)
     Pengukuran kembali                (151.027)                  -              -         (151.027)                  Remeasurement
     Dampak perubahan kurs                4.487                   -              -            4.487           Effect on exchange rate

     31 Desember 2022                   148.380                   -              -          148.380              December 31, 2022

     Aset baru                                 233                -              -               233           New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                                                                            Assets derecognized or repaid
      hapus buku)                            (2)                  -              -               (2)              (exclude write off)
     Pengukuran kembali                  36.640                   -              -           36.640                   Remeasurement
     Dampak perubahan kurs               (1.147)                  -              -           (1.147)          Effect on exchange rate

     31 Desember 2023                   184.104                   -              -          184.104              December 31, 2023



     Perubahan cadangan kerugian penurunan nilai                           The movements in the allowance for impairment
     adalah sebagai berikut:                                               losses are as follows:

                                    Tahap 1/          Tahap 2/        Tahap 3/         Jumlah/
                                    Stage 1           Stage 2         Stage 3           Total

     31 Desember 2021                          (46)               -              -               (46)            December 31, 2021

     Aset baru                                  (3)               -              -                (3)          New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                                                                            Assets derecognized or repaid
      hapus buku)                                -                -              -                 -              (exclude write off)
     Pengukuran kembali                         19                -              -                19                  Remeasurement
     Dampak perubahan kurs                      (3)               -              -                (3)         Effect on exchange rate

     31 Desember 2022                          (33)               -              -               (33)            December 31, 2022

     Aset baru                                   -                -              -                 -           New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                                                                            Assets derecognized or repaid
      hapus buku)                                -                -              -                 -              (exclude write off)
     Pengukuran kembali                         18                -              -                18                  Remeasurement
     Dampak perubahan kurs                       -                -              -                 -          Effect on exchange rate

     31 Desember 2023                          (15)               -              -               (15)            December 31, 2023



     Informasi mengenai klasifikasi dan nilai wajar giro                   Information regarding the classification and fair
     pada bank lain diungkapkan pada Catatan 36. Giro                      value of current accounts with other banks is
     pada pihak berelasi diungkapkan pada Catatan 38.                      disclosed in Note 36. Current accounts with related
                                                                           parties are disclosed in Note 38.

     Informasi mengenai kualitas giro pada bank lain                       Information regarding the quality of current accounts
     diungkapkan pada Catatan 37.                                          with other banks is disclosed in Note 37.

     Informasi mengenai giro pada bank lain                                Information regarding the currency type of current
     berdasarkan jenis mata uang diungkapkan pada                          accounts with other banks is disclosed in Note 40.
     Catatan 40.


                                                                 79
Page 260
                                                                                 The original financial statements included herein are in
                                                                                                               the Indonesian language.

          PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                       for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                               unless otherwise stated)


8.   Penempatan pada Bank Indonesia dan Bank                           8.     Placements with Bank Indonesia and Other
     Lain                                                                     Banks

     Rincian penempatan pada Bank Indonesia adalah                            The details of placements with Bank Indonesia are
     sebagai berikut:                                                         as follows:

                                                    2023               2022

     Rupiah                                                                                                                    Rupiah
       Pihak ketiga                                                                                                     Third party
          Bank Indonesia                              429.937               129.983                               Bank Indonesia

     Valuta asing                                                                                                   Foreign currency
        Pihak ketiga                                                                                                    Third party
           Bank Indonesia                             662.071               902.915                               Bank Indonesia

     Total                                           1.092.008          1.032.898                                                  Total


     Pada tanggal 31 Desember 2023 dan 2022, seluruh                          As of December 31, 2023 and 2022, all placements
     penempatan pada Bank Indonesia dan bank lain                             with Bank Indonesia and other banks are not
     tidak mengalami penurunan nilai.                                         impaired.

     Pada tanggal 31 Desember 2023 dan 31 Desember                            As of December 31, 2023 and 2022, there are no
     2022, tidak ada penempatan pada Bank Indonesia                           placement with Bank Indonesia and other banks
     dan bank lain yang dijadikan jaminan.                                    pledged as collateral.

     Jangka waktu penempatan pada Bank Indonesia                              The term of placements with Bank Indonesia are as
     adalah sebagai berikut:                                                  follows:

                                                    2023               2022

     Rupiah                                                                                                                   Rupiah
       Bank Indonesia                               4 hari/days        3 hari/days                                   Bank Indonesia

     Valuta asing                                                                                                   Foreign currency
        Bank Indonesia                              4 hari/days        4 hari/days                                  Bank Indonesia


     Perubahan nilai tercatat bruto adalah sebagai                            The movements in the gross carrying amount are as
     berikut:                                                                 follows:

                                    Tahap 1/          Tahap 2/          Tahap 3/           Jumlah/
                                    Stage 1           Stage 2           Stage 3             Total

     31 Desember 2021                 1.979.562                    -                  -       1.979.562              December 31, 2021

     Aset baru                        1.032.898                    -                  -       1.032.898            New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                                                                                Assets derecognized or repaid
      hapus buku)                     (1.979.562)                  -                  -      (1.979.562)             (exclude write off)
     Pengukuran kembali                        -                   -                  -               -                  Remeasurement

     31 Desember 2022                 1.032.898                    -                  -       1.032.898              December 31, 2022

     Aset baru                        1.092.008                    -                  -       1.092.008            New assets originated
     Aset dihentikan pengakuannya
      atau dilunasi (kecuali                   -                   -                  -                     Assets derecognized or repaid
      hapus buku)                     (1.032.898)                                            (1.032.898)             (exclude write off)
     Pengukuran kembali                        -                   -                  -               -                  Remeasurement

     31 Desember 2023                 1.092.008                    -                  -       1.092.008              December 31, 2023




                                                                  80
Page 261
                                                                                      The original financial statements included herein are in
                                                                                                                    the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                    PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                            for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                    unless otherwise stated)


8.   Penempatan pada Bank Indonesia dan Bank                                 8.   Placements with Bank Indonesia and Other
     Lain (lanjutan)                                                              Banks (continued)

     Informasi mengenai suku bunga penempatan pada                                Information in respect of interest rate of placements
     Bank Indonesia dan bank lain diungkapkan pada                                with Bank Indonesia and other banks is disclosed in
     Catatan 3c. Informasi mengenai jatuh tempo                                   Note 3c. Information in respect of maturities of
     penempatan pada Bank Indonesia dan bank lain                                 placements with Bank Indonesia and other banks is
     diungkapkan pada Catatan 3d. Informasi mengenai                              disclosed in Note 3d. Information regarding the
     klasifikasi dan nilai wajar penempatan pada Bank                             classification and fair value of placements with Bank
     Indonesia dan bank lain diungkapkan pada Catatan                             Indonesia and other banks is disclosed in Note 36.
     36.

     Informasi mengenai kualitas penempatan pada                                  Information regarding the quality of placements with
     Bank Indonesia dan bank lain diungkapkan pada                                Bank Indonesia and other banks is disclosed in Note
     Catatan 37.                                                                  37.

     Informasi mengenai penempatan pada Bank                                      Information regarding the currency type of
     Indonesia dan bank lain berdasarkan jenis mata                               placements with Bank Indonesia and other banks is
     uang diungkapkan pada Catatan 40.                                            disclosed in Note 40.

9.   Tagihan dan Liabilitas Derivatif                                        9.   Derivative Receivables and Payables

     Pada tanggal 31 Desember 2023 dan 2022, tagihan                              As of December 31, 2023 and 2022, derivative
     dan liabilitas derivatif adalah sebagai berikut:                             receivables and payables are as follows:

                                                    2023                                   2022
                                        Tagihan            Liabilitas          Tagihan            Liabilitas
                                       Derivatif/          Derivatif/         Derivatif/          Derivatif/
                                       Derivative          Derivative         Derivative          Derivative
                                      Receivables          Payables          Receivables          Payables
     Kontrak berjangka valuta asing                                                                                   Currency forward contract
        Bank                                    11                (1.838)             108                      (90)                   Banks



     Pada tanggal 31 Desember 2023 dan 2022 semua                                 As of December 31, 2023 and 2022 all derivative
     tagihan derivatif merupakan transaksi dengan pihak                           receivables are made with third parties.
     ketiga.

     Pada tanggal 31 Desember 2023 dan 2022, tidak                                As of December 31, 2023 and 2022, there are no
     ada tagihan derivatif yang dijadikan jaminan.                                derivative receivables pledged as collateral.

     Informasi mengenai klasifikasi dan nilai wajar                               Information regarding the classification and fair
     tagihan dan liabilitas derivatif diungkapkan pada                            value of derivative receivables and payables is
     Catatan 36.                                                                  disclosed in Note 36.

     Informasi mengenai kualitas             tagihan       derivatif              Information regarding the quality of derivative
     diungkapkan pada Catatan 37.                                                 receivables is disclosed in Note 37.




                                                                        81
Page 262
                                                                                       The original financial statements included herein are in
                                                                                                                     the Indonesian language.

          PT BANK QNB INDONESIA TBK                                                   PT BANK QNB INDONESIA TBK
       CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
        Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023 and
     Tahun yang Berakhir pada Tanggal Tersebut                                           for the Year Then Ended
          (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
              kecuali dinyatakan lain)                                                   unless otherwise stated)


9.   Tagihan dan Liabilitas Derivatif (lanjutan)                           9.     Derivative Receivables and Payables (continued)

     Pada tanggal 31 Desember 2023 dan 2022, nilai                                As of December 31, 2023 and 2022, the contract
     kontrak dan rata-rata jangka waktu kontrak                                   amount and average contract period of currency
     berjangka valuta asing adalah sebagai berikut:                               forward contracts are as follows:

                                                                       2023
                                                        Nilai Kontrak
                                                  (dalam nilai penuh)/                      Rentang tanggal
                                                     Contract amount                         Jatuh tempo/
                                  Jenis valuta/   (in original currency)                       Range of
                                   Currencies         (in full amount)                       maturity date

     Kontrak berjangka valuta                                                                         16 Januari 2024/        Currency forward
      asing yang akan diterima   USD                              50.000                             January 16, 2024      contracts received
                                                                                                       4 Januari 2024/
                                 GBP                              70.581                              January 4, 2024
                                                                                                       4 Januari 2024/
                                 JPY                         12.772.723                               January 4, 2024

     Kontrak berjangka valuta                                                        4 Januari 2024 - 19 Januari 2024/        Currency forward
      asing yang akan dibayar    USD                         33.282.920            January 4, 2024 - January 19, 2024         contracts paid



                                                                       2022
                                                        Nilai Kontrak
                                                  (dalam nilai penuh)/                      Rentang tanggal
                                                     Contract amount                         Jatuh tempo/
                                  Jenis valuta/   (in original currency)                       Range of
                                   Currencies         (in full amount)                       maturity date

     Kontrak berjangka valuta                                                        9 Januari 2023 - 20 Januari 2023/        Currency forward
      asing yang akan diterima   USD                          1.694.019            January 9, 2023 - January 20, 2023      contracts received


     Kontrak berjangka valuta                                                        9 Januari 2023 - 20 Januari 2023/        Currency forward
      asing yang akan dibayar    USD                          1.694.019            January 9, 2023 - January 20, 2023         contracts paid



10. Tagihan dan Liabilitas Akseptasi                                       10. Acceptance Receivables and Payables

     a.   Tagihan akseptasi:                                                      a.    Acceptance receivables

                                                   2023                    2022

          Rupiah                                                                                                                     Rupiah
            Pihak ketiga                                                                                                      Third parties
               Korporasi                                      -                   5.362                                      Corporates

          Valuta asing                                                                                                   Foreign currencies
             Pihak ketiga                                                                                                     Third parties
                Korporasi                                     -                 183.150                                      Corporates

                                                              -                 188.512

          Cadangan kerugian                                                                                                    Allowance for
            penurunan nilai                                   -                    (217)                                 impairment losses

          Total                                               -                 188.295                                                 Total




                                                                  82
Page 263
                                                                                    The original financial statements included herein are in
                                                                                                                  the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                  PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                            As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                          for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                  unless otherwise stated)


10. Tagihan dan Liabilitas Akseptasi (lanjutan)                            10. Acceptance          Receivables             and      Payables
                                                                               (continued)

    a.   Tagihan akseptasi: (lanjutan)                                         a.     Acceptance receivables (continued)

         Perubahan nilai tercatat bruto adalah sebagai                                The movements in the gross carrying amount
         berikut:                                                                     are as follows:

                                        Tahap 1/           Tahap 2/        Tahap 3/           Jumlah/
                                        Stage 1            Stage 2         Stage 3             Total

         31 Desember 2021                     6.778                    -               -             6.778                 December 31, 2021

         Aset baru                          188.512                    -               -           188.512                New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                               Assets derecognized or repaid
           hapus buku)                       (6.778)                   -               -            (6.778)                 (exclude write off)
         Pengukuran kembali                    (517)                   -               -              (517)                     Remeasurement
         Dampak perubahan kurs                  517                    -               -               517              Effect on exchange rate

         31 Desember 2022                   188.512                    -               -           188.512                 December 31, 2022

         Aset baru                                   -                 -               -                   -              New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                               Assets derecognized or repaid
           hapus buku)                     (188.512)                   -               -          (188.512)                 (exclude write off)
         Pengukuran kembali                       -                    -               -                 -                      Remeasurement
         Dampak perubahan kurs                    -                    -               -                 -              Effect on exchange rate

         31 Desember 2023                            -                 -               -                   -               December 31, 2023



         Perubahan cadangan kerugian penurunan nilai                                  The movements in the allowance                         for
         adalah sebagai berikut:                                                      impairment losses are as follows:

                                        Tahap 1/           Tahap 2/        Tahap 3/           Jumlah/
                                        Stage 1            Stage 2         Stage 3             Total

         31 Desember 2021                           (3)                -               -                  (3)              December 31, 2021

         Aset Baru                             (187)                   -               -                (217)             New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                               Assets derecognized or repaid
           hapus buku)                               3                 -               -                   3                (exclude write off)
         Pengukuran kembali                          -                 -               -                   -                    Remeasurement
         Dampak perubahan kurs                     (30)_               -               -                 (30)           Effect on exchange rate

         31 Desember 2022                      (217)                   -               -                (217)              December 31, 2022

         Aset Baru                                   -                 -               -                   -              New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                               Assets derecognized or repaid
           hapus buku)                             217                 -               -                217                 (exclude write off)
         Pengukuran kembali                        (17)                -               -                (17)                    Remeasurement
         Dampak perubahan kurs                      17                 -               -                 17             Effect on exchange rate

         31 Desember 2023                            -                 -               -                   -               December 31, 2023



         Manajemen Bank berkeyakinan bahwa jumlah                                     The Bank’s management believes that the
         cadangan kerugian penurunan nilai yang                                       allowance for impairment losses provided is
         dibentuk cukup untuk menutupi kemungkinan                                    adequate to cover any possible impairment on
         penurunan nilai tagihan akseptasi.                                           acceptance receivables.

         Pada tanggal 31 Desember 2022, tidak ada                                     As of December 31, 2022, there are no
         tagihan akseptasi yang dijadikan jaminan.                                    acceptance receivables pledged as collateral.




                                                                      83
Page 264
                                                                                                   The original financial statements included herein are in
                                                                                                                                 the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                                 PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                           As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                                         for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                                 unless otherwise stated)


10. Tagihan dan Liabilitas Akseptasi (lanjutan)                                        10. Acceptance                 Receivables            and         Payables
                                                                                           (continued)

    b.   Liabilitas akseptasi:                                                                b.     Acceptance payables:

                                                              2023                     2022

          Rupiah                                                                                                                                           Rupiah
            Pihak ketiga                                                                                                                            Third parties
               Bank                                                       -                   5.362                                                      Banks

          Valuta asing                                                                                                                     Foreign currencies
             Pihak ketiga                                                                                                                       Third parties
                Bank                                                      -                 20.974                                                   Banks

          Total                                                           -                 26.336                                                             Total


         Informasi mengenai jatuh tempo diungkapkan                                                  Information in respect of maturities were
         pada Catatan 3d. Informasi mengenai                                                         disclosed in Note 3d. Information with regards
         klasifikasi dan nilai wajar diungkapkan pada                                                to the classification and fair value were
         Catatan 36.                                                                                 disclosed in Note 36.

         Informasi mengenai kualitas tagihan akseptasi                                               Information regarding the quality of acceptance
         diungkapkan pada Catatan 37.                                                                receivables is disclosed in Note 37.

         Informasi mengenai tagihan dan liabilitas                                                   Information regarding the currency type of
         akseptasi berdasarkan jenis mata uang                                                       acceptance receivables and payables is
         diungkapkan pada Catatan 40.                                                                disclosed in Note 40.

11. Efek-efek yang Dibeli dengan Janji Dijual                                          11. Securities Purchased Under Agreements to
    Kembali                                                                                Resell
                                                                              2023

                       Efek yang              Rentang tanggal                    Rentang tanggal
                       mendasari/               pembelian/                      penjualan kembali/           Harga penjualan   Pendapatan bunga      Nilai tercatat/
   Pihak lawan/        Underlying            Range of purchase                      Range of                    kembali/       yang belum diakui/      Carrying
   Counterparty        securities                  date                            resale date                Resale price     Unearned interest        amount

                                           3 Februari- 4 Agustus 2023/        12 Januari - 2 Agustus 2024/
   Bank Indonesia   Obligasi pemerintah    February 3 - August 4, 2023        January 12 - August 2, 2024          3.091.884             114.682            2.997.202



                                                                              2022

                       Efek yang              Rentang tanggal                    Rentang tanggal
                       mendasari/               pembelian/                      penjualan kembali/           Harga penjualan   Pendapatan bunga      Nilai tercatat/
   Pihak lawan/        Underlying            Range of purchase                      Range of                    kembali/       yang belum diakui/      Carrying
   Counterparty        securities                  date                            resale date                Resale price     Unearned interest        amount

                                           8 April - 30 Desember 2022/    6 Januari - 29 September 2023/
   Bank Indonesia   Obligasi pemerintah   April 27 - December 30, 2022   January 6 - September 29, 2023            3.107.183              34.961            3.072.222



    Pada tanggal 31 Desember 2023 dan 2022, lokasi                                            As of December 31, 2023 and 2022, the scriptless
    penyimpanan efek-efek jaminan berupa tanpa                                                collateral securities were custodied in BI-S4 system
    warkat (scriptless) dicatat pada sistem BI-S4 Bank                                        of Bank Indonesia.
    Indonesia.




                                                                              84
Page 265
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

        PT BANK QNB INDONESIA TBK                                              PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                      for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                              unless otherwise stated)


11. Efek-efek yang Dibeli dengan Janji Dijual                       11. Securities Purchased Under Agreements to
    Kembali (lanjutan)                                                  Resell (continued)

    Manajemen Bank berkeyakinan bahwa tidak ada                            The Bank’s management believes that no allowance
    cadangan kerugian penurunan nilai efek-efek yang                       for impairment losses on securities purchased under
    dibeli dengan janji dijual kembali yang perlu dibentuk                 agreements to resell should be provided as of
    pada tanggal 31 Desember 2023 dan 2022.                                December 31, 2023 and 2022.

    Informasi mengenai suku bunga efek-efek yang                           Information in respect of interest rate of securities
    dibeli dengan janji dijual kembali diungkapkan pada                    purchased under agreements to resell is disclosed
    Catatan 3c. Informasi mengenai jatuh tempo efek-                       in Note 3c. Information in respect of maturities of
    efek yang dibeli dengan janji dijual kembali                           securities purchased under agreement to resell is
    diungkapkan pada Catatan 3d. Informasi mengenai                        disclosed in Note 3d. Information regarding the
    klasifikasi dan nilai wajar efek-efek yang dibeli                      classification and fair value of securities purchased
    dengan janji dijual kembali diungkapkan pada                           under agreements to resell is disclosed in Note 36
    Catatan 36.

    Informasi mengenai kualitas efek-efek yang dibeli                      Information regarding the quality of securities
    dengan janji dijual kembali diungkapkan pada                           purchased under agreements to resell is disclosed
    Catatan 37.                                                            in Note 37.

    Pada tanggal 31 Desember 2023 dan 2022, tidak                          As of December 31, 2023 and 2022, there are no
    ada efek-efek yang dibeli dengan janji dijual kembali                  securities purchased under agreements to resell
    yang dijadikan jaminan.                                                pledged as collateral.

12. Kredit yang Diberikan                                           12. Loans

    a.   Berdasarkan hubungan, jenis dan valuta                            a.    By relationship, type and currency

                                                2023                2022

         Pihak berelasi                                                                                             Related parties
           Rupiah                                                                                                          Rupiah
            Karyawan (Catatan 38)                      1.976              397                           Employee loans (Note 38)
            Investasi                                      -          490.000                                        Investment
            Konsumsi                                       -            3.269                                         Consumer

                                                       1.976          493.666

         Pihak ketiga                                                                                                  Third parties
           Rupiah                                                                                                           Rupiah
            Modal kerja                          2.423.061          3.742.945                                      Working capital
            Investasi                            1.584.595          3.561.753                                         Investment
            Sindikasi                              594.787            721.700                                         Syndicated
            Konsumsi                                40.648             93.682                                          Consumer
            Karyawan                                16.082             14.321                                          Employee

                                                 4.659.173          8.134.401

          Valuta asing                                                                                           Foreign currencies
           Sindikasi                               952.158            434.956                                         Syndication
           Modal Kerja                             329.003            396.331                                     Working capital
           Investasi                                14.114            202.896                                         Investment

                                                 1.295.275          1.034.183

         Total                                   5.956.424          9.662.250                                                    Total

         Cadangan kerugian penurunan nilai        (507.139)          (406.127)                       Allowance for impairment losses

         Neto                                    5.449.285          9.256.123                                                     Net




                                                               85
Page 266
                                                                                The original financial statements included herein are in
                                                                                                              the Indonesian language.

         PT BANK QNB INDONESIA TBK                                             PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                     for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                             unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                                12. Loans (continued)

    b.   Berdasarkan sektor ekonomi                                        b.    By economic sectors

                                                  2023              2022

         Rupiah                                                                                                                Rupiah
          Jasa usaha                              1.852.663         3.750.682                                    Business services
          Manufaktur                              1.706.686         2.200.118                                        Manufacturing
          Konstruksi                                418.872           419.815                                         Constructions
          Perdagangan, restoran dan hotel           376.650           579.533                        Trading, restaurant and hotels
          Pertanian, perkebunan, dan                                                                    Agriculture, plantation, and
            sarana perkebunan                       172.605           882.727                             plantation equipments
          Pengangkutan, pergudangan dan                                                           Transportation, warehousing and
            komunikasi                               74.967           631.309                                     communication
          Pertambangan                                    -            52.213                                                 Mining
          Lain-lain                                  58.706           111.670                                                 Others

                                                  4.661.149         8.628.067


         Valuta asing                                                                                              Foreign currencies
          Manufaktur                                952.158           396.331                                        Manufacturing
          Pertambangan                              343.117           506.307                                               Mining
          Jasa usaha                                      -           131.545                                    Business services
          Perdagangan, restoran dan hotel                 -                 -                        Trading, restaurant and hotels

                                                  1.295.275         1.034.183

         Total                                    5.956.424         9.662.250                                                    Total

         Cadangan kerugian penurunan nilai         (507.139)         (406.127)                       Allowance for impairment losses

         Neto                                     5.449.285         9.256.123                                                     Net


    c.   Berdasarkan periode perjanjian kredit:                            c.    Based on the term of loan agreements:

                                                  2023              2022

         Rupiah                                                                                                                Rupiah
           < 1 tahun                              1.962.566         3.791.761                                              < 1 year
           > 1 - 3 tahun                            948.610         1.628.007                                           > 1 - 3 year
           > 3 - 5 tahun                            810.045         1.463.570                                           > 3 - 5 year
           > 5 tahun                                939.928         1.744.729                                              > 5 year

                                                  4.661.149         8.628.067

         Valuta asing                                                                                              Foreign currencies
            < 1 tahun                               966.272           396.331                                              < 1 year
            > 1 - 3 tahun                           137.156           202.896                                           > 1 - 3 year
            > 3 - 5 tahun                           191.847           434.956                                           > 3 - 5 year

                                                  1.295.275         1.034.183

         Total                                    5.956.424         9.662.250                                                    Total

         Cadangan kerugian penurunan nilai         (507.139)         (406.127)                       Allowance for impairment losses

         Neto                                     5.449.285         9.256.123                                                     Net


    d.   Kredit dijamin dengan agunan yang diikat                          d.    The loans are secured by collaterals which are
         dengan akta pemberian hak tanggungan,                                   legalized by deed of encumbrance, other
         jaminan lain atau aset yang umumnya diterima                            guarantees or assets that are generally
         oleh bank, antara lain deposito berjangka, giro,                        accepted in the banking industry, such as time
         kendaraan bermotor, tanah dan bangunan.                                 deposits, demand deposits, motor vehicles,
                                                                                 land and buildings.



                                                               86
Page 267
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

         PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                        unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                             12. Loans (continued)

    d.   Pada tanggal 31 Desember 2023 dan 2022,                     d.    As of December 31, 2023 and 2022, total loans
         kredit dijamin dengan jaminan tunai berupa                        secured by cash collateral (back-to-back loans)
         deposito masing-masing sebesar Rp16.100                           amounted to Rp16,100 and Rp31,020,
         dan Rp31.020 (Catatan 20).                                        respectively (Note 20).

         Pada tanggal 31 Desember 2023 dan                                 As of December 31, 2023 and December 31,
         31 Desember 2022, tidak ada kredit yang                           2022, there are no loans pledged as collateral.
         dijadikan jaminan.

    e.   Kredit modal kerja dan investasi diberikan                  e.    Working capital loans and investment loans
         kepada debitur untuk kepentingan modal kerja                      were granted to customers for working capital
         dan pembelian barang modal. Kredit modal                          and purchase of capital goods. Working capital
         kerja mencakup kredit dalam bentuk rekening                       loans include overdraft.
         koran.

    f.   Kredit konsumsi terdiri dari kredit pemilikan               f.    Consumer loans consist of housing and motor
         rumah dan kendaraan bermotor dan kredit                           vehicles ownership loans and other personal
         perorangan lainnya.                                               loans.

    g.   Pada tanggal 31 Desember 2023 dan 2022,                     g.    As of December 31, 2023 and 2022, the ratio of
         rasio kredit usaha mikro kecil menengah                           small business loans to total loans is 0.18% and
         (UMKM) terhadap jumlah kredit yang diberikan                      0.27%, respectively, with macroprudential
         masing-masing adalah 0,18% dan 0,27%                              inclusive financing ratio (RPIM) is 9.94% and
         dengan nilai rasio pembiayaan inklusif                            14.52%, respectively.
         makroprudensial   masing-masing     sebesar
         9,94% dan 14,52%.

    h.   Kredit sindikasi merupakan kredit yang                      h.    Syndicated loans represent loans provided to
         diberikan kepada nasabah berdasarkan                              borrowers under a syndication agreement with
         perjanjian pembiayaan bersama dengan bank-                        other banks. The Bank’s participation in
         bank lain. Partisipasi Bank dalam kredit                          syndicated loans with other banks as of
         sindikasi dengan bank-bank lain pada tanggal                      December 31, 2023 and 2022 amounted to
         31 Desember 2023 dan 2022 adalah masing-                          Rp923,790 and Rp1,156,656 or 15.51% and
         masing sebesar Rp923.790 dan Rp1.156.656                          11.97% of loans balance, respectively.
         atau 15,51% dan 11,97% dari total kredit. (tidak                  (unaudited)
         diaudit)

    i.   Kredit yang diberikan kepada karyawan Bank                  i.    The loans given to the Bank’s employees are
         digunakan untuk keperluan pinjaman atas                           used for purchase of houses, cars and other
         pembelian rumah, kendaraan, dan keperluan                         personal necessities with maturities ranging
         lainnya dengan jangka waktu jatuh tempo                           from 1 to 15 years, with interest rates 5% per
         berkisar dari 1 tahun sampai 15 tahun, yang                       annum. These loans will be settled through their
         dikenakan bunga 5% per tahun. Kredit tersebut                     monthly salary deductions. The loans to the
         akan dilunasi melalui pemotongan gaji setiap                      employees amounted Rp18,058 and Rp14,718
         bulan. Jumlah kredit yang diberikan kepada                        or represented 0.30% and 0.15% of total loans
         karyawan masing-masing sebesar Rp18.058                           as of December 31, 2023 and 2022,
         dan Rp14.718 atau 0,30% dan 0,15% dari                            respectively.
         jumlah kredit yang diberikan pada tanggal
         31 Desember 2023 dan 2022.




                                                            87
Page 268
                                                                                        The original financial statements included herein are in
                                                                                                                      the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                    PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                            for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                    unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                                       12. Loans (continued)

    j.   Restrukturisasi kredit dilakukan melalui                                j.        Loans restructuring was conducted through
         modifikasi persyaratan jumlah pokok dan bunga                                     modification of terms of principal and interest
         dan perpanjangan jangka waktu kredit. Pada                                        and extension of terms. As of December 31,
         tanggal 31 Desember 2023 dan 2022, jumlah                                         2023 and 2022, restructured loans amounted to
         kredit yang direstrukturisasi masing-masing                                       Rp1,713,836 or 28.77% and Rp3,320,278 or
         sebesar Rp1.713.836 atau 28,77% dan                                               34.36% of total loans, respectively, with the
         Rp3.320.278 atau 34,36% dari jumlah kredit                                        respective allowance for impairment losses
         yang diberikan, dengan cadangan kerugian                                          amounted to Rp376,556 and Rp230,038. From
         penurunan nilai masing-masing sebesar                                             the restructured loans, the Bank did not have
         Rp376.556 dan Rp230.038. Dari kredit yang                                         any commitments to extend additional loan
         direstrukturisasi tersebut, Bank tidak memiliki                                   facilities.
         komitmen untuk memberikan fasilitas kredit
         tambahan.

         Restrukturisasi kredit berdasarkan jenis kredit                                   Loan restructuring by loan type and collectibility
         dan kolektibilitas adalah sebagai berikut:                                        are as follows:
                                                                   2023

                                          Dalam
                                        perhatian
                                         khusus/       Kurang
                          Lancar/        Special       lancar/            Diragukan/           Macet/
                          Current        Mention     Substandard           Doubtful            Loss         Total

         Investasi           994.899        85.048             -                       -          13.818    1.093.765                Investment
         Sindikasi            46.053       417.796             -                       -               -      463.849                Sindication
         Modal kerja               -       155.940             -                       -               -      155.940             Working capital
         Konsumer                 48           212            22                       -               -          282                 Consumer

         Total              1.041.000      658.996            22                       -          13.818    1.713.836                      Total



                                                                   2022

                                          Dalam
                                        perhatian
                                         khusus/       Kurang
                          Lancar/        Special       lancar/            Diragukan/           Macet/
                          Current        Mention     Substandard           Doubtful            Loss         Total

         Investasi          2.009.086      443.741             -                    -             13.818    2.466.645                Investment
         Sindikasi            579.821            -             -                    -                  -      579.821                Sindication
         Modal kerja          273.294            -             -                    -                  -      273.294             Working capital
         Konsumer                 389            5             -                  124                  -          518                 Consumer

         Total              2.862.590      443.746             -                  124             13.818    3.320.278                      Total



         Total kredit yang telah direstrukturisasi dan                                     Total loans that have been restructured and in
         dalam kategori kredit bermasalah pada tanggal                                     the category of non-performing loans as of
         31 Desember 2023 dan 2022 masing-masing                                           December 31, 2023 and 2022 amounted
         sebesar Rp13.840 dan Rp13.942.                                                    Rp13,840 and Rp13,942, respectively.

    k.   Pada tahun 2023, Bank melakukan penjualan                               k.        On 2023, the Bank sold its written off loans.
         atas kredit yang dihapusbukukan. Pembayaran                                       Payment for the selling prices of Rp86,429 has
         dari harga jual dari kredit tersebut sebesar                                      been fully received by the Bank and presented
         Rp86.429 telah diterima seluruhnya oleh Bank                                      as part of “other operating income - others” in
         dan    dibukukan      sebagai    bagian  dari                                     current year statement of profit or loss and other
         “pendapatan operasional lainnya - lain-lain”                                      comprehensive income.
         pada laporan laba rugi dan penghasilan
         komprehensif lain di tahun berjalan.




                                                             88
Page 269
                                                                         The original financial statements included herein are in
                                                                                                       the Indonesian language.

         PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                       unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                            12. Loans (continued)

         Pada tahun 2023, Bank melakukan penjualan                        On 2023, the Bank sold its performing loans.
         atas kredit lancar. Pembayaran dari harga jual                   Payment for the selling prices of Rp425,478
         dari kredit tersebut sebesar Rp425.478 telah                     has been fully received by the Bank and loss
         diterima seluruhnya oleh Bank dan kerugian                       from sale of loans of Rp39,668 was presented
         dari penjualan atas kredit sebesar Rp39.668                      as part of “other operating expenses - others” in
         dibukukan sebagai bagian dari “beban                             current year statement of profit or loss and other
         operasional lainnya - lain-lain” pada laporan                    comprehensive income.
         laba rugi dan penghasilan komprehensif lain di
         tahun berjalan.

         Bank telah mengalihkan seluruh hak atas arus                     Bank has transferred all rights to cash flows and
         kas dan juga mengalihkan seluruh risiko dan                      also transferred all risks and benefits of the
         manfaat atas kredit yang diberikan yang dijual                   credit granted for sale. Therefore, the Bank
         tersebut. Oleh karena itu, Bank menghentikan                     derecognized this credit and recognized the
         pengakuan atas kredit yang diberikan ini dan                     recovery of all previously established
         mengakui pemulihan seluruh cadangan                              allowances for impairment losses.
         kerugian penurunan nilai yang dibentuk
         sebelumnya.

    l.   Bank telah melakukan restrukturisasi kredit                l.    The Bank has restructured credit for debtors
         untuk debitur yang terdampak pandemi Covid-                      affected by the Covid-19 pandemic in
         19 sesuai dengan POJK No. 11/POJK.03/2020                        accordance with POJK No. 11/POJK.03/2020
         “Stimulus Perekonomian Nasional sebagai                          “National Economic stimulus as countercyclical
         kebijakan countercyclical dampak penyebaran                      policy in the impact of the spread of
         Corona Virus Disease 2019” tertanggal                            Coronavirus        Disease     2019    dated
         13 Maret 2020 yang telah diperbaharui                            March 13, 2020 which was updated by POJK
         beberapa          kali       dengan       POJK                   No. 48/POJK.03/2020 “First Changes in POJK
         No.48/POJK.03/2020 “Perubahan Pertama                            No.          11/POJK.03/2020”          dated
         Atas POJK No.11/POJK.03/2020” tertanggal                         December        1,      2020    and    POJK
         1      Desember        2020      dan      POJK                   No. 17/POJK.03/2021 “Second Changes in
         No. 17/POJK.03/2021 “Perubahan Kedua Atas                        POJK       No.      11/POJK.03/2020”   dated
         POJK       No.11/POJK.03/2020”       tertanggal                  September 10, 2021, also Press Release OJK
         10 September 2021 serta Siaran Pers OJK                          No.     SP     85/DHMS/OJK/XI/2022     dated
         No. SP 85/DHMS/OJK/XI/2022 tertanggal                            November 28, 2022 regarding extension of
         28 November 2022 tentang Perpanjangan                            targeted and sectoral credit and financing
         Kebijakan       Restrukturisasi   Kredit   dan                   restructuring policies due to the continued
         Pembiayaan Secara Targeted dan Sektoral                          impact of the Covid-19 pandemic. As of
         Atasi Dampak Lanjutan Pandemi Covid-19. Per                      December 31, 2023 and 2022, Covid-19
         tanggal 31 Desember 2023 dan 2022, kredit                        restructured debit balance amounted to
         restrukturisasi     Covid-19     masing-masing                   Rp1,514,614 or Rp3,219,623, respectively.
         sebesar Rp1.514.614 Adan Rp3.219.623.




                                                           89
Page 270
                                                                                            The original financial statements included herein are in
                                                                                                                          the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                        unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                                           12. Loans (continued)

    m. Pada tanggal 31 Desember 2023 dan 2022,                                        m. As of December 31, 2023 and 2022, details of
       rincian kredit bermasalah berdasarkan sektor                                      non-performing loans based on economic
       ekonomi adalah sebagai berikut:                                                   sector are as follows:

                                                      2023                                         2022

                                                           Cadangan                                    Cadangan
                                                           Kerugian                                     kerugian
                                                          penurunan                                    penurunan
                                     Kredit                   nilai/             Kredit                    nilai/
                                  bermasalah/            Allowance for        bermasalah/              Allowance
                                 Non-performing           impairment         Non-performing          for impairment
                                     loans                   losses              loans                    losses
         Jasa usaha                          17.502               (14.320)             18.911                 (12.502)                   Business service
         Perdagangan, restoran
           dan hotel                         14.864               (14.864)                     -                       -    Trading, restaurant and hotels
         Konstruksi                             656                     -                  2.635                    (962)                    Construction
         Pengangkutan, perdagangan                                                                                           Transportation, warehousing
           dan komunikasi                     2.373                  (694)                  -                       -                and communication
         Lain-lain                           10.392               (10.408)             15.193                 (15.198)                             Others

         Total                               45.787               (40.286)             36.739                 (28.662)                               Total



    n.   Pada tanggal 31 Desember 2023 dan 2022,                                      n.     As of December 31, 2023 and 2022, the non-
         rasio non-performing loan (“NPL”) adalah                                            performing loan (“NPL”) ratio are as follows:
         sebagai berikut:

                                                         2023                  2022

         NPL bruto                                             0,77%               0,38%                                                      Gross NPL
         NPL neto                                              0,09%               0,08%                                                        Net NPL

    o.   Kredit hapus buku sepanjang tahun 2023 dan                                   o.     Written off loans during 2023 and 2022,
         2022 masing-masing sebesar Rp35.882 dan                                             amounted to Rp35,882 and Rp530,772,
         Rp530.772.                                                                          respectively.

    p.   Pada tanggal 31 Desember 2023 dan 2022,                                      p.     As of December 31, 2023 dan 2022, the Bank
         Bank telah memenuhi ketentuan Batas                                                 has complied with the Legal Lending Limit
         Maksimum Pemberian Kredit (“BMPK”), untuk                                           (“LLL”) requirements for third parties and
         pihak ketiga dan pihak berelasi.                                                    related parties.

    q.   Perubahan nilai tercatat bruto kredit yang                                   q.     The changes in gross carrying amount on loans
         diberikan selama tahun berjalan adalah                                              during the year are as follows:
         sebagai berikut:

                                        Tahap 1/             Tahap 2/           Tahap 3/                  Jumlah/
                                        Stage 1              Stage 2            Stage 3                    Total

         31 Desember 2021                 7.755.069             2.174.578                  6.974            9.936.621                 December 31, 2021

         Aset baru                        4.940.295              243.633               12.421               5.196.349               New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                                           Assets derecognized or repaid
           hapus buku)                    (4.277.690)            (165.027)           (2.849)               (4.445.566)                (exclude write-off)
         Transfer ke Tahap 1                 253.483             (253.420)              (63)                        -                  Transfer to Stage 1
         Transfer ke Tahap 2                 (18.976)              18.976                 -                         -                  Transfer to Stage 2
         Transfer ke Tahap 3                  (4.350)             (16.376)           20.726                         -                  Transfer to Stage 3
         Pengukuran kembali                 (893.577)            (108.774)          530.302                  (472.049)                    Remeasurement
         Penghapusbukuan                           -                    -          (530.772)                 (530.772)                            Write-off
         Dampak perubahan kurs               (22.333)                   -                 -                   (22.333)            Effect on exchange rate

         31 Desember 2022                 7.731.921             1.893.590              36.739               9.662.250                 December 31, 2022




                                                                        90
Page 271
                                                                                  The original financial statements included herein are in
                                                                                                                the Indonesian language.

         PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                       for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                               unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                                    12. Loans (continued)

    q.   Perubahan nilai tercatat bruto kredit yang                         q.     The changes in gross carrying amount on loans
         diberikan selama tahun berjalan adalah                                    during the year are as follows: (continued)
         sebagai berikut: (lanjutan)

                                        Tahap 1/        Tahap 2/        Tahap 3/            Jumlah/
                                        Stage 1         Stage 2         Stage 3              Total

         31 Desember 2022                 7.731.921       1.893.590          36.739            9.662.250               December 31, 2022

         Aset baru                        3.159.218         197.401              1.877         3.358.496             New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                            Assets derecognized or repaid
           hapus buku)                    (5.730.927)      (754.260)        (17.575)          (6.502.762)              (exclude write-off)
         Transfer ke Tahap 1                     486           (486)              -                    -                Transfer to Stage 1
         Transfer ke Tahap 2                (462.017)       462.017               -                    -                Transfer to Stage 2
         Transfer ke Tahap 3                  (8.019)       (18.052)         26.071                    -                Transfer to Stage 3
         Pengukuran kembali                 (504.968)       (52.998)         34.557             (523.409)                  Remeasurement
         Penghapusbukuan                           -              -         (35.882)             (35.882)                          Write-off
         Dampak perubahan kurs                (2.269)             -               -               (2.269)          Effect on exchange rate

         31 Desember 2023                 4.183.425       1.727.212          45.787            5.956.424               December 31, 2023



    r.   Perubahan cadangan kerugian penurunan nilai                        r.     The changes in allowance for impairment
         kredit yang diberikan selama tahun berjalan                               losses on loans during the year are as follows:
         adalah sebagai berikut:

                                        Tahap 1/        Tahap 2/        Tahap 3/            Jumlah/
                                        Stage 1         Stage 2         Stage 3              Total

         31 Desember 2021                    81.941         235.916              3.318           321.175               December 31, 2021

         Aset baru                           68.779          63.138          12.581              144.498             New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                            Assets derecognized or repaid
           hapus buku)                      (49.463)        (15.816)         (3.016)             (68.295)              (exclude write-off)
         Transfer ke Tahap 1                 15.051         (14.986)            (65)                   -                Transfer to Stage 1
         Transfer ke Tahap 2                   (297)            297               -                    -                Transfer to Stage 2
         Transfer ke Tahap 3                   (327)         (3.318)          3.645                    -                Transfer to Stage 3
         Pengukuran kembali                 (23.196)         18.214         542.971              537.989                   Remeasurement
         Penghapusbukuan                          -               -        (530.772)            (530.772)                          Write-off
         Dampak perubahan kurs                1.263             269               -                1.532           Effect on exchange rate

         31 Desember 2022                    93.751         283.714          28.662              406.127               December 31, 2022

         Aset baru                           65.896         112.498              2.742           181.136             New assets originated
         Aset dihentikan pengakuannya
           atau dilunasi (kecuali                                                                            Assets derecognized or repaid
           hapus buku)                      (71.265)       (147.682)        (16.137)            (235.084)              (exclude write-off)
         Transfer ke Tahap 1                     74             (74)              -                    -                Transfer to Stage 1
         Transfer ke Tahap 2                 (5.013)          5.013               -                    -                Transfer to Stage 2
         Transfer ke Tahap 3                   (434)         (2.882)          3.316                    -                Transfer to Stage 3
         Pengukuran kembali                  12.623         120.690          57.510              190.823                   Remeasurement
         Penghapusbukuan                          -               -         (35.882)             (35.882)                          Write-off
         Dampak perubahan kurs               (4.508)          4.452              75                   19           Effect on exchange rate

         31 Desember 2023                    91.124         375.729          40.286              507.139               December 31, 2023



    s.   Manajemen Bank berkeyakinan bahwa jumlah                           s.     The Bank’s management believes that the
         cadangan kerugian penurunan nilai yang                                    allowance for impairment losses provided is
         dibentuk cukup untuk menutupi kemungkinan                                 adequate to cover any possible impairment on
         penurunan nilai kredit yang diberikan.                                    loans.

    t.   Informasi mengenai suku bunga kredit yang                          t.     Information in respect of interest rate of loans is
         diberikan diungkapkan pada Catatan 3c.                                    disclosed in Note 3c. Information in respect of
         Informasi mengenai jatuh tempo kredit yang                                maturities of loans is disclosed in Note 3d.
         diberikan diungkapkan pada Catatan 3d.                                    Information regarding the classification and fair
         Informasi mengenai klasifikasi dan nilai wajar                            value of loans is disclosed in Note 36.
         kredit yang diberikan diungkapkan pada
         Catatan 36.
                                                                   91
Page 272
                                                                                 The original financial statements included herein are in
                                                                                                               the Indonesian language.

         PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                       for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                               unless otherwise stated)


12. Kredit yang Diberikan (lanjutan)                                   12. Loans (continued)

    u.     Informasi mengenai kredit yang diberikan                         u.    Information regarding the quality of productive
           berdasarkan    kualitas    aset produktif                              assets of loans is disclosed in Note 37.
           diungkapkan pada Catatan 37.

    v.     Pada tanggal-tanggal 31 Desember 2023 dan                        v.    As of December 31, 2023 and 2022, loans with
           2022, kredit pada pihak berelasi diungkapkan                           related parties were disclosed in Note 38.
           pada Catatan 38.

    w. Informasi mengenai kredit yang diberikan                             w. Information regarding the currency type of
       berdasarkan jenis mata uang diungkapkan                                 loans is disclosed in Note 40.
       pada Catatan 40.

    x.     Selama tahun 2023 dan 2022, Bank telah                           x.    During 2023 and 2022, the Bank has taken
           menempuh berbagai langkah strategis dalam                              various strategic steps to manage its non-
           mengelola kredit bermasalahnya, antara lain                            performing loans, either through credit
           melalui restrukturisasi kredit, eksekusi agunan,                       restructuring, collateral execution, and loans
           dan penjualan kredit.                                                  sale.

13. Efek-Efek                                                          13. Securities

                                                              2023
                                                 Nilai                 Nilai
                                               nominal/              tercatat/
                                               Nominal               Carrying
                                                Value                amount
    Nilai wajar melalui                                                                                     Fair value through other
        penghasilan komprehensif lain                                                                      comprehensive income
          Pihak Ketiga                                                                                              Third Parties
          Rupiah                                                                                                          Rupiah
          Obligasi pemerintah                       140.000              139.922                             Government bonds

    Biaya perolehan diamortisasi                                                                                     Amortized cost
         Pihak Ketiga                                                                                              Third Parties
         Rupiah                                                                                                          Rupiah
         Obligasi pemerintah                        250.000              250.030                              Government bonds

    Total biaya perolehan diamortisasi              250.000              250.030                                Total amortized cost

    Total                                           390.000              389.952                                                  Total

    Cadangan kerugian penurunan nilai                                             -                  Allowance for Impairment Losses

    Neto                                                                 389.952                                                   Net




                                                              92
Page 273
                                                                                 The original financial statements included herein are in
                                                                                                               the Indonesian language.

         PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                       for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                               unless otherwise stated)


13. Efek-Efek (lanjutan)                                               13. Securities (continued)

                                                              2022
                                                  Nilai                Nilai
                                                nominal/             tercatat/
                                                Nominal              Carrying
                                                 Value               amount
    Nilai wajar melalui                                                                                       Fair value through other
        penghasilan komprehensif lain                                                                        comprehensive income
          Pihak Ketiga                                                                                                Third Parties
          Rupiah                                                                                                            Rupiah
          Obligasi pemerintah                       140.000              139.839                               Government bonds
    Biaya perolehan diamortisasi                                                                                        Amortized cost
         Pihak Ketiga                                                                                                 Third Parties
         Rupiah                                                                                                             Rupiah
         Obligasi pemerintah                        250.000              250.174                                Government bonds
         Dolar Amerika Serikat                                                                                 United States Dollar
         Wesel SKBDN                                125.146              124.169                                      SKBDN Bills

    Total biaya perolehan diamortisasi              375.146              374.343                                   Total amortized cost

    Total                                           515.146              514.182                                                    Total

    Cadangan kerugian penurunan nilai                                        (195)                    Allowance for Impairment Losses

    Neto                                                                 513.987                                                    Neto


    Rincian efek-efek adalah sebagai berikut:                               Details of the securities are as follows:

                                                                             2023

                                                                                                                            Frekuensi
                                                                                                                       pembayaran bunga/
                                   Nilai nominal/    Nilai tercatat/             Rentang tanggal jatuh tempo/            Frequency of
                                   Nominal value    Carrying amount                   Range of maturity                   interest date

    Obligasi Pemerintah/                                                              15 Maret 2024 - 25 April 2025/   3 bulan/months dan
        Government Bonds                  390.000              389.952               March 15, 2024 - April 25, 2025       6 bulan/months

                                                                             2022

                                                                                                                            Frekuensi
                                                                                                                       pembayaran bunga/
                                   Nilai nominal/    Nilai tercatat/             Rentang tanggal jatuh tempo/            Frequency of
                                   Nominal value    Carrying amount                   Range of maturity                   interest date

    Obligasi Pemerintah/                                                              15 Maret 2024 - 25 April 2025/   3 bulan/months dan
        Government Bonds                  390.000              390.013              March 15, 2024 - April 25, 2025        4 bulan/months
    Wesel SKBDN/                                                                   31 Januari 2023 - 20 Maret 2023/
        SKBDN Bills                       125.146              124.169           January 31, 2023 - March 20, 2023                      -




                                                              93
Page 274
                                                                                  The original financial statements included herein are in
                                                                                                                the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                  PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                            As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                          for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                  unless otherwise stated)


13. Efek-Efek (lanjutan)                                                 13. Securities (continued)

    Nilai wajar melalui penghasilan komprehensif lain                           Fair values through other comprehensive income
    didasarkan pada harga pasar efek yang tercatat                              securities are based on market prices of listed
    pada        tanggal       pelaporan.        Mutasi                          securities at the reporting date. Movements of
    keuntungan/(kerugian) yang belum direalisasi akibat                         unrealized gains/(losses) resulting from the
    kenaikan/(penurunan) nilai wajar efek-efek dicatat                          increase/(decrease) in fair value of marketable
    sebagai bagian komponen ekuitas, sehingga Bank                              securities is recorded as part of the equity
    mengakui keuntungan/(kerugian) periode berjalan                             component, and the Bank recognized current period
    atas perubahan nilai wajar efek-efek, sedangkan                             gain/(losses) from changes in fair value of
    penyesuaian reklasifikasi     atas   keuntungan/                            marketable securities, whereas reclassification
    (kerugian) sudah termasuk dalam laba rugi.                                  adjustment on gains/ (losses) are included in profit
                                                                                or loss.

    Perubahan keuntungan/(kerugian) yang belum                                  The changes of unrealized gains/(losses) on
    direalisasi atas efek-efek dalam kelompok nilai wajar                       marketable securities in fair value through other
    melalui penghasilan komprehensif lain adalah                                comprehensive income:
    sebagai berikut:

                                                    2023                 2022

    Saldo awal                                         28.183                8.605                                     Beginning balance
    Perubahan nilai wajar                             (36.210)              25.100                                   Changes in fair value
    Pajak penghasilan terkait akun-akun                                                                    Income tax of related accounts
       yang akan direklasifikasi                                                                                     which will reclassified
       ke laporan laba rugi                                7.966            (5.522)                           to statement of profit or loss

    Saldo Akhir                                              (61)           28.183                                         Ending balance


    Perubahan nilai tercatat bruto efek-efek selama                             The changes in gross carrying amount on securities
    tahun berjalan adalah sebagai berikut:                                      during the year are as follows:

                                   Tahap 1/          Tahap 2/            Tahap 3/           Jumlah/
                                   Stage 1           Stage 2             Stage 3             Total

    31 Desember 2021                      954.128                    -                -          954.128                December 31, 2021

    Aset baru                             207.491                    -                -          207.491               New assets originated
    Aset dihentikan pengakuannya
     atau dilunasi (kecuali                                                                                    Assets derecognized or repaid
     hapus buku)                      (741.676)                      -                -         (741.676)                (exclude write off)
    Pengukuran kembali                       -                       -                -                -                     Remeasurement
    Dampak perubahan kurs               94.239                       -                -           94.239             Effect on exchange rate

    31 Desember 2022                      514.182                    -                -          514.182                December 31, 2022

    Aset baru                                   -                    -                -                -               New assets originated
    Aset dihentikan pengakuannya
     atau dilunasi (kecuali                                                                                    Assets derecognized or repaid
     hapus buku)                      (124.169)                      -                -         (124.169)                (exclude write off)
    Pengukuran kembali                     (61)                      -                -              (61)                    Remeasurement
    Dampak perubahan kurs                    -                       -                -                -             Effect on exchange rate

    31 Desember 2023                      389.952                    -                -          389.952                December 31, 2023




                                                                    94
Page 275
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

         PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                            unless otherwise stated)


13. Efek-Efek (lanjutan)                                             13. Securities (continued)

    Perubahan cadangan kerugian penurunan nilai                          The changes in allowance for impairment losses on
    efek-efek selama tahun berjalan adalah sebagai                       securities during the year are as follows:
    berikut:

                                   Tahap 1/          Tahap 2/        Tahap 3/         Jumlah/
                                   Stage 1           Stage 2         Stage 3           Total

    31 Desember 2021                      (274)                  -              -               (274)            December 31, 2021

    Aset baru                             (195)                  -              -               (195)          New assets originated
    Aset dihentikan pengakuannya
     atau dilunasi (kecuali                                                                             Assets derecognized or repaid
     hapus buku)                              274                -              -               274               (exclude write off)
    Pengukuran kembali                          -                -              -                 -                   Remeasurement
    Dampak perubahan kurs                       -                -              -                 -           Effect on exchange rate

    31 Desember 2022                      (195)                  -              -               (195)            December 31, 2022

    Aset baru                                   -                -              -                  -           New assets originated
    Aset dihentikan pengakuannya
     atau dilunasi (kecuali                                                                             Assets derecognized or repaid
     hapus buku)                              195                -              -               195               (exclude write off)
    Pengukuran kembali                         (6)               -              -                (6)                  Remeasurement
    Dampak perubahan kurs                       6                -              -                 6           Effect on exchange rate

    31 Desember 2023                            -                -              -                  -             December 31, 2023



    Manajemen Bank berpendapat bahwa cadangan                            The Bank’s management believes that no
    kerugian penurunan nilai tidak diperlukan.                           allowances for impairment losses is necessary.

    Informasi mengenai suku bunga surat-surat                            Information in respect of interest rate of securities is
    berharga diungkapkan pada Catatan 3c. Informasi                      disclosed in Note 3c. Information in respect of
    mengenai jatuh tempo surat-surat berharga                            maturities of securities is disclosed in Note 3d.
    diungkapkan pada Catatan 3d. Informasi mengenai                      Information regarding the classification and fair
    klasifikasi dan nilai wajar efek-efek diungkapkan                    value of securities is disclosed in Note 36.
    pada Catatan 36.

    Informasi mengenai efek-efek yang diberikan                          Information regarding the quality of productive
    berdasarkan kualitas aset produktif diungkapkan                      assets of securities is disclosed in Note 37.
    pada Catatan 37.

    Informasi mengenai efek-efek yang diberikan                          Information regarding the currency type of securities
    berdasarkan jenis mata uang diungkapkan pada                         is disclosed in Note 40.
    Catatan 40.

    Pada tanggal 31 Desember 2023 dan 2022, tidak                        As of December 31, 2023 and 2022, there are no
    ada efek-efek yang dijadikan jaminan.                                securities pledged as collateral.




                                                                95
Page 276
                                                                                    The original financial statements included herein are in
                                                                                                                  the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                    PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                            for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


14. Beban Dibayar Dimuka                                                  14. Prepayments

   Rincian beban dibayar dimuka adalah sebagai                                   Details of prepayments are as follows:
   berikut:

                                                 2023                     2022

   Perolehan aset tetap                             13.723                       7.369                         Acquisition of fixed assets
   Pemeliharaan                                     12.109                       8.286                                      Maintenance
   Asuransi                                          2.966                       2.352                                           Insurance
   Pihak ketiga                                      2.337                       2.762                                       Third parties
   Bonus                                             1.900                       1.918                                              Bonus

   Total                                            33.035                   22.687                                                   Total


15. Aset Tetap dan Aset Hak Guna                                          15. Fixed Assets and Right-of-Use Assets

   Aset tetap dan aset hak guna pada tanggal                                     Fixed assets and right-of-uses as of December 31,
   31 Desember 2023 dan 2022 adalah sebagai                                      2023 and 2022 are as follows:
   berikut:

                                                                   2023
                                Saldo awal/                                                 Saldo akhir/
                                Beginning        Penambahan/          Pengurangan/            Ending
                                 Balance           Addition            Deductions             balance
   Biaya perolehan:                                                                                                                    Cost:
    Tanah                              54.407                  -                    (978)           53.429                           Land
    Gedung                             18.881                  -                 (13.466)            5.415                       Buildings
    Renovasi dan perbaikan
      gedung                           72.239                  -                  (2.869)           69.370        Leasehold improvement
    Perlengkapan dan perabot                                                                                             Office equipment,
      kantor                         228.157            13.651                   (46.933)          194.875        furniture and fixtures
                                     373.684            13.651                   (64.246)          323.089
   Aset hak-guna                     195.665                 -                    (9.082)          186.583             Right-of-use-assets
   Total biaya perolehan             569.349            13.651                   (73.328)          509.672                        Total cost

   Akumulasi penyusutan                                                                                         Accumulated depreciation:
    Gedung                             (9.402)             (868)                   7.342            (2.928)                   Buildings
    Renovasi dan perbaikan
      gedung                          (50.756)           (3.421)                   2.814           (51.363)       Leasehold improvement
    Perlengkapan dan perabot                                                                                             Office equipment,
      kantor                         (158.809)          (36.498)                  46.605          (148.702)       furniture and fixtures
                                     (218.967)          (40.787)                  56.761          (202,993)
   Aset hak-guna                      (74.984)          (23.736)                   4.957           (93.763)              Right-of-use-assets
   Total akumulasi penyusutan        (293.951)          (64.523)                  61.718          (296.756) Total accumulated depreciation

   Nilai buku - neto                 275.398                                                       212.916                 Book value - net




                                                             96
Page 277
                                                                                        The original financial statements included herein are in
                                                                                                                      the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


15. Aset Tetap dan Aset Hak Guna (lanjutan)                                   15. Fixed Assets                  and     Right-of-Use          Assets
                                                                                  (continued)

    Aset tetap dan aset hak guna pada tanggal                                        Fixed assets and right-of-uses as of December 31,
    31 Desember 2023 dan 2022 adalah sebagai                                         2023 and 2022 are as follows: (continued)
    berikut: (lanjutan)

                                                                       2022
                                  Saldo awal/                                                        Saldo akhir/
                                  Beginning        Penambahan/            Pengurangan/                 Ending
                                   Balance           Addition              Deductions                  balance
    Biaya perolehan:                                                                                                                            Cost:
     Tanah                               54.407                    -                         -              54.407                            Land
     Gedung                              18.881                    -                         -              18.881                        Buildings
     Renovasi dan perbaikan
       gedung                            76.480              2.448                    (6.689)               72.239         Leasehold improvement
     Perlengkapan dan perabot                                                                                                     Office equipment,
       kantor                          225.281              16.623                   (13.747)              228.157         furniture and fixtures
     Kendaraan bermotor                    139                   -                      (139)                    -                          Vehicles
                                       375.188              19.071                   (20.575)              373.684
     Aset hak-guna                     201.847               5.498                   (11.680)              195.665             Right-of-use-assets
     Total biaya perolehan             577.035              24.569                   (32.255)              569.349                          Total cost


    Akumulasi penyusutan                                                                                                 Accumulated depreciation:
     Gedung                              (8.531)              (871)                              -           (9.402)                   Buildings
     Renovasi dan perbaikan
       gedung                           (53.676)            (3.744)                    6.664                (50.756)       Leasehold improvement
     Perlengkapan dan perabot                                                                                                     Office equipment,
       kantor                          (137.362)           (33.671)                   12.224              (158.809)        furniture and fixtures
     Kendaraan bermotor                    (138)                 -                       138                     -                          Vehicles
                                       (199.707)           (38.286)                   19.026              (218.967)
     Aset hak-guna                      (56.102)           (25.523)                    6.641               (74.984)            Right-of-use-assets
     Total akumulasi penyusutan        (255.809)           (63.809)                   25.667              (293.951)    Total accumulated depreciation

    Nilai buku - neto                  321.226                                                             275.398                  Book value - net



    Beban penyusutan aset tetap dan aset hak guna                                    Depreciation expense of fixed assets and right-of-
    yang dibebankan ke dalam beban umum dan                                          uses charged to general and administrative
    administrasi sebesar Rp 64.523 dan Rp63.809                                      expenses amounted to Rp64,523 and Rp63,809 for
    untuk tahun yang berakhir tanggal 31 Desember                                    the years ended December 31, 2023 and 2022,
    2023 dan 2022 (Catatan 34).                                                      respectively (Note 34).

    Rincian penjualan aset tetap adalah sebagai berikut:                             Details of sale of fixed assets are as follows:
                                                   2023                       2022
    Hasil penjualan aset tetap                          5.107                       805                        Proceeds from sale of fixed assets
    Nilai buku                                         (1.900)                   (1.334)                                         Net book value
    Laba (rugi) penjualan aset tetap                      3.207                      (529)                   Gain (loss) on sale of fixed assets




                                                                  97
Page 278
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

        PT BANK QNB INDONESIA TBK                                               PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                       for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


15. Aset Tetap dan Aset Hak Guna (lanjutan)                              15. Fixed Assets         and      Right-of-Use       Assets
                                                                             (continued)

    Pada tanggal 31 Desember 2023, seluruh hak                              As of December 31, 2023, all the Bank’s land are in
    kepemilikan atas tanah Bank adalah dalam bentuk                         the form of landrights (Hak Guna Bangunan), which
    Hak Guna Bangunan (HGB), yang memiliki sisa                             have remaining period of legal rights ranging from 2
    jangka waktu hak legal berkisar dari 2 tahun sampai                     to 20 years. The Bank’s management believes that
    dengan 20 tahun. Manajemen Bank berkeyakinan                            the landrights can be extended upon expiry.
    bahwa hak kepemilikan atas tanah tersebut dapat
    diperpanjang pada saat jatuh tempo.

    Pada tanggal 31 Desember 2023 dan 2022, aset                            As of December 31, 2023, and December 31, 2022,
    tetap yang telah disusutkan penuh dan masih                             fixed assets that have been fully depreciated yet still
    digunakan masing-masing sejumlah Rp74.198 dan                           being used amounted to Rp74,198 and Rp59,009,
    Rp59.008. (tidak diaudit)                                               respectively. (unaudited)

    Pada tanggal 31 Desember 2023, kendaraan,                               As of December 31, 2023, motor vehicles, buildings
    gedung, perlengkapan dan perabot kantor telah                           and office equipment were insured with PT Sompo
    diasuransikan kepada PT Sompo Insurance                                 Insurance Indonesia and Malacca Trust Insurance
    Indonesia dan Malacca Trust Insurance dan pada                          and as of December 31, 2022, motor vehicles,
    tanggal 31 Desember 2022, kendaraan, gedung,                            buildings and office equipment were insured with PT
    perlengkapan dan perabot kantor diasuransikan                           Sompo Insurance against all risks of physical loss or
    kepada PT Sompo Insurance Indonesia terhadap                            damage for sum insured of Rp142,606 and
    semua risiko kehilangan atau kerusakan fisik                            Rp230,121 as of December 31, 2023 and December
    dengan nilai pertanggungan masing-masing                                31, 2022, respectively.
    sejumlah Rp142.606 dan Rp230.121 untuk
    31 Desember 2023 dan 31 Desember 2022.

    Manajemen Bank berkeyakinan bahwa nilai                                 The Bank’s management believes that the
    pertanggungan aset tetap yang diasuransikan                             insurance coverage is adequate to cover possible
    adalah cukup untuk menutupi kemungkinan                                 losses on the assets insured. The Bank’s
    kerugian atas aset yang dipertanggungkan.                               management also believes that there was no
    Manajemen Bank juga berkeyakinan tidak terdapat                         impairment of fixed assets during the year.
    penurunan nilai aset tetap selama tahun berjalan.

    Pada tanggal 31 Desember 2023 dan 2022, tidak                           As of December 31, 2023 and 2022, there are no
    ada aset tetap yang dijadikan jaminan.                                  fixed assets pledged as collateral.

    Aset hak-guna per 31 Desember 2023 dan 2022                             Right-of-use assets as of December 31, 2023 and
    adalah sebagai berikut:                                                 2022 as follows:

                                                                  2023
                               Saldo awal/                                             Saldo akhir/
                               Beginning        Penambahan/          Pengurangan/        Ending
                                balance           Addition            Deductions         balance
    Biaya perolehan:                                                                                                             Cost:
     Gedung                         175.703                   -              (8.621)          167.082                      Buildings
     Kendaraan bermotor               3.181                   -                (461)            2.720                      Vehicles
     Lainnya                         16.781                   -                   -            16.781                        Others
                                    195.665                   -              (9.082)          186.583
    Akumulasi penyusutan:                                                                                  Accumulated depreciation:
     Gedung                          (64.712)         (18,735)                4.957           (78.490)                   Buildings
     Kendaraan bermotor                 (881)            (747)                    -            (1.628)                   Vehicles
     Lainnya                          (9.391)          (4.254)                    -           (13.645)                     Others
                                     (74.984)         (23.736)                4.957           (93.763)
    Nilai buku - neto               120.681                                                    92.820                Book value - net




                                                          98
Page 279
                                                                           The original financial statements included herein are in
                                                                                                         the Indonesian language.

        PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


15. Aset Tetap dan Aset Hak Guna (lanjutan)                         15. Fixed Assets          and      Right-of-Use        Assets
                                                                        (continued)

                                                             2022
                             Saldo awal/                                           Saldo akhir/
                             Beginning        Penambahan/       Pengurangan/         Ending
                              balance           Addition         Deductions          balance
    Biaya perolehan:                                                                                                         Cost:
     Gedung                       176.770                -               (1.067)          175.703                      Buildings
     Kendaraan bermotor             4.419            2.240               (3.478)            3.181                      Vehicles
     Lainnya                       20.658            3.258               (7.135)           16.781                        Others
                                  201.847            5.498              (11.680)          195.665
    Akumulasi penyusutan:                                                                              Accumulated depreciation:
     Gedung                        (45.463)         (20.034)               785            (64.712)                   Buildings
     Kendaraan bermotor             (3.124)          (1.235)             3.478               (881)                   Vehicles
     Lainnya                        (7.515)          (4.254)             2.378             (9.391)                     Others
                                   (56.102)         (25.523)             6.641            (74.984)
    Nilai buku - neto             145.745                                                 120.681                Book value - net



16. Aset Takberwujud                                                16. Intangible Assets

                                                               2023

                             Saldo awal/                                           Saldo akhir/
                             Beginning        Penambahan/       Pengurangan/         Ending
                              balance           Addition         Deductions          balance

    Biaya perolehan:                                                                                                        Cost:
     Perangkat lunak              110.378           11.659                 (298)          121.739                      Software
     Lisensi penggunaan
        perangkat lunak             39.679           3.001                   (8)           42.672               Software license
                                  150.057           14.660                 (306)          164.411
    Akumulasi amortisasi:                                                                              Accumulated amortization:
     Perangkat lunak               (58.613)          (7.622)                56            (66.179)                   Software
     Lisensi penggunaan
        perangkat lunak            (34.296)          (4.052)                  8           (38.340)              Software license
                                   (92.909)         (11.674)                64           (104.519)

    Total                           57.148                                                 59.892                            Total


                                                               2022

                             Saldo awal/                                           Saldo akhir/
                             Beginning        Penambahan/       Pengurangan/         Ending
                              balance           Addition         Deductions          balance
    Biaya perolehan:                                                                                                        Cost:
     Perangkat lunak                97.012          16.994               (3.628)          110.378                      Software
     Lisensi penggunaan
        perangkat lunak             38.343           1.336                     -           39.679               Software license
                                  135.355           18.330               (3.628)          150.057
    Akumulasi amortisasi:                                                                              Accumulated amortization:
     Perangkat lunak               (50.826)          (8.693)               906            (58.613)                   Software
     Lisensi penggunaan
        perangkat lunak            (31.750)          (2.546)                   -          (34.296)              Software license
                                   (82.576)         (11.239)               906            (92.909)
    Total                           52.779                                                 57.148                            Total


    Beban amortisasi yang dibebankan dalam beban                        Amortization expense charged to general and
    umum dan administrasi sejumlah Rp11.674 dan                         administrative expenses amounted to Rp11,674 and
    Rp11.239 untuk tahun 2023 dan 2022 (Catatan 34).                    Rp11,239 for the year 2023 and 2022 (Note 34).




                                                        99
Page 280
                                                                            The original financial statements included herein are in
                                                                                                          the Indonesian language.

        PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


16. Aset Takberwujud (lanjutan)                                   16. Intangible Assets (continued)

    Pada tanggal 31 Desember 2023 dan 2022, aset                         As of December 31, 2023, and December 31, 2022,
    takberwujud yang telah diamortisasi penuh dan                        fixed assets that have been fully depreciated yet still
    masih    digunakan   masing-masing       sejumlah                    being used amounted to Rp101,403 and
    Rp101.403 dan Rp127.236. (tidak diaudit)                             Rp127,236, respectively. (unaudited)

    Pada tanggal 31 Desember 2023 dan 2022, seluruh                      As of December 31, 2023 and 2022, all intangible
    aset tak berwujud tidak mengalami penurunan nilai.                   assets are not impaired.

17. Agunan yang Diambil Alih                                      17. Foreclosed Assets

    Rincian dalam akun ini adalah:                                       Details are as follows:

                                               2023               2022
    Agunan yang diambil alih                      285.735           736.066                                    Foreclosed assets
    Cadangan kerugian penurunan nilai             (35.319)          (71.020)                     Allowance for impairment losses
    Total                                         250.416           665.046                                                 Total


    Perubahan cadangan kerugian penurunan nilai                          The changes in allowance for impairment losses on
    agunan yang diambil alih selama tahun berjalan                       foreclosed assets during the year are as follows:
    adalah sebagai berikut:

                                               2023               2022
    Saldo awal tahun                               71.020           159.549                            Balance beginning of year
    Pemulihan selama tahun berjalan               (35.701)          (88.529)                            Reversal during the year
    Saldo akhir tahun                              35.319            71.020                                 Balance end of year


    Pada tanggal 31 Desember 2023 dan 2022, Bank                         On December 31, 2023 and 2022, QNBI received a
    telah menerima bank garansi dari pihak berelasi                      bank guarantee from Qatar National Bank
    yaitu Qatar National Bank (Q.P.S.C) untuk menutupi                   (Q.P.S.C.), a related party, the bank guarantee will
    kemungkinan kerugian terhadap risiko kerugian atas                   cover potential losses in case of the reduction of the
    penurunan nilai dari penjualan aset yang diambil alih                foreclosed asset value from sales of foreclosed
    dengan nilai dari bank garansi tersebut masing-                      assets with value of the bank guarantee is
    masing adalah Rp218.883 dan Rp562.597. Bank                          Rp218,883 and Rp562,597. This bank guarantee
    garansi ini akan digunakan oleh Bank dengan cara                     will be used by Bank to make claims to Qatar
    mengajukan klaim kepada Qatar National Bank                          National Bank (Q.P.S.C) amounting to the
    (Q.P.S.C) sejumlah selisih antara nilai buku dari                    difference between book value of the foreclosed
    aset yang diambil alih yang tercatat pada                            asset in December 31, 2018 and its sales price after
    31 Desember 2018 dengan harga jual setelah                           related costs. Multiple claims can be made with
    dikurangi biaya-biaya penjualan. Pengajuan klaim                     aggregate amount should not exceed value of bank
    dapat dilakukan lebih dari sekali dengan jumlah                      guarantee. On December 18, 2023, the Bank has
    agregat tidak melebihi nilai dari bank garansi. Pada                 received an addendum of the bank guarantee
    tanggal 18 Desember 2023, Bank menerima                              agreement with Qatar National Bank (Q.P.S.C)
    addendum perjanjian bank garansi dengan Qatar                        which is valid until Juni 30, 2024.
    National Bank (Q.P.S.C) yang berlaku sampai
    dengan 30 Juni 2024.

    Pada tanggal 31 Desember 2023 dan 2022, nilai                        As of December 31, 2023 and 2022, carrying value
    tercatat agunan yang diambil alih (AYDA) masing-                     of foreclosed assets amounted to Rp285,735 and
    masing adalah sebesar Rp285.735 dan Rp736.066.                       Rp736,066, respectively. Meanwhile, as of
    Sedangkan pada tanggal 31 Desember 2023 dan                          December 31, 2023 and 2022, fair value of
    2022, nilai wajar agunan yang diambil alih masing-                   foreclosed assets amounted to Rp360,807 and
    masing sebesar Rp360.807 dan Rp843.280.                              Rp843,280, respectively.




                                                            100
Page 281
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

        PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


17. Agunan yang Diambil Alih (lanjutan)                           17. Foreclosed Assets (continued)

    Sepanjang tahun 2023 dan 2022, Bank telah                         During 2022 and 2021, the Bank has sold foreclosed
    melakukan penjualan agunan yang diambil alih                      assets with a net value amounted to Rp414,630 and
    dengan nilai bersih masing-masing sebesar                         Rp336,711, respectively.
    Rp414.630 dan Rp336.711.

    Manajemen Bank berkeyakinan bahwa cadangan                        The Bank’s management believes that the
    kerugian penurunan nilai yang telah dibentuk cukup                allowance for impairment losses is adequate to
    untuk menutup kemungkinan kerugian atas agunan                    cover possible losses on foreclosed assets.
    yang diambil alih.

    Penilaian nilai wajar atas tanah dan bangunan untuk               The fair value valuations of land and building for the
    tanggal yang berakhir 31 Desember 2023 dan 2022                   years ended December 31, 2023 and 2022 are
    dilakukan masing-masing oleh penilai independen                   perfomed by the following external independent
    eksternal Kantor Jasa Penilai Publik (“KJPP”)                     appraiser Kantor Jasa Penilai Publik (“KJPP”)
    Firman, Suryantoro, Sugeng, Suzy, Hartomo &                       Firman, Suryantoro, Sugeng, Suzy, Hartomo &
    Rekan dan Toha, Okky, Heru & Rekan.                               Rekan and Toha, Okky, Heru & Rekan, respectively.

    Nilai wajar untuk tujuan pengukuran pengakuan                     The fair values for the purposes of the measurement
    awal dan pengukuran setelah pengakuan awal                        at initial recognition and the measurement
    (Catatan 2q) agunan yang diambil alih dinilai oleh                subsequent to the initial recognition (Note 2q) of
    KJPP, penilai properti independen eksternal, yang                 foreclosed assets were determined by KJPP, an
    memenuhi       kualifikasi    profesional     dan                 external independent property appraiser, who fulfills
    berpengalaman di lokasi dan kategori aset yang                    the professional qualifications and experience in the
    dinilai.                                                          location and category of the assets being valued.

    Penilaian dilakukan berdasarkan Standar Penilaian                 Valuations are performed based on Indonesian
    Indonesia (SPI 2018) untuk tujuan pelaporan                       Valuation Standards (SPI 2018) for the purposes of
    keuangan. Nilai wajar ditentukan dengan                           financial reporting. Fair values are determined using
    menggunakan hirarki dan input-input yang                          the following hierarchy of input used in the valuation
    digunakan dalam teknis penilaian untuk aset non-                  techniques for non-financial assets:
    keuangan:

    -   Tingkat 1: Input yang berasal dari harga                      -    Level 1: Inputs that are quoted prices
        kuotasian (tanpa penyesuaian) dalam pasar                          (unadjusted) in active markets for identical
        aktif untuk aset yang identik.                                     assets.
    -   Tingkat 2: Input selain harga kuotasian pasar                 -    Level 2: Inputs other than quoted market price
        dalam level 1 yang dapat diobservasi baik                          included in level 1 that are observable either
        secara langsung maupun tidak langsung.                             directly or indirectly.
    -   Tingkat 3: Input yang tidak dapat diobservasi.                -    Level 3: Inputs that are unobservable.

    Nilai wajar adalah berdasarkan pendekatan data                    The fair values are based on market data approach
    pasar dengan membandingkan harga-harga aset                       by comparing observable market prices of similar
    yang serupa yang dapat diobservasi. Harga pasar                   assets. Market prices in close proximity are adjusted
    yang paling mendekati disesuaikan dengan                          for differences in key attributes such as: land and
    perbedaan atribut-atribut utama, seperti: ukuran                  buildings size, location, occupancy rate, physical
    tanah dan bangunan, lokasi, tingkat hunian, kondisi               conditions, depreciation factors and replacement
    fisik, faktor depresiasi dan biaya penggantian.                   costs. These fair value measurement also considers
    Pengukuran nilai wajar juga mempertimbangkan                      highest and best use of the asset being valued.
    penggunaan tertinggi dan terbaik (highest and best
    use) dari aset yang dinilai.

    Selama tahun 2023 dan 2022, pengukuran nilai                      During 2023 and 2022, the above fair value
    wajar di atas dikategorikan sebagai nilai wajar Level             measurement has been categorized as a Level 2 fair
    2 berdasarkan input-input dalam teknik penilaian                  value based on the inputs to the valuation technique
    yang digunakan.                                                   used.




                                                            101
Page 282
                                                                                     The original financial statements included herein are in
                                                                                                                   the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                      PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                              for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                               (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                      unless otherwise stated)


18. Aset Lain-lain                                                        18. Other Assets

                                                     2023                 2022
    Piutang bunga                                       173.378                 83.807                                 Interest receivable
    Tagihan atas transaksi agunan                                                                             Receivables from foreclosed
       yang diambil alih                                 55.944                155.505                             asset transactions
    Piutang lain-lain                                    11.837                 10.661                                   Other receivable
    Setoran jaminan                                       6.818                  6.814                                  Security deposits
    Properti terbengkalai                                 6.543                    419                               Abandoned property
    Lain-lain                                             1.440                  1.971                                             Others
    Total                                               255.960                259.177                                                 Total


19. Liabilitas Segera                                                     19. Liabilities Payable on Demand

                                                     2023                 2022
    Utang pajak                                             4.517                6.549                                        Tax payables
    Lain-lain                                               8.038               17.479                                              Others
    Total                                                12.555                 24.028                                                 Total


20. Simpanan dari Nasabah                                                 20. Deposits from Customers
                                                                        2023

                                               Pihak berelasi/      Pihak ketiga/
                                               Related parties      Third parties          Total

    Rupiah                                                                                                                             Rupiah
     Giro                                               1.661             254.447             256.108                     Demand deposits
     Tabungan                                             342             439.917             440.259                      Saving deposits
     Deposito berjangka dan deposito on call                -           3.212.738           3.212.738     Time deposits and on call deposits

                                                        2.003           3.907.102           3.909.105

    Valuta asing                                                                                                          Foreign currencies
     Giro                                              15.378             499.052             514.430                     Demand deposits
     Deposito berjangka dan deposito on call           62.764           1.852.904           1.915.668     Time deposits and on call deposits

                                                       78.142           2.351.956           2.430.098

    Total                                              80.145           6.259.058           6.339.203                                  Total


                                                                        2022

                                               Pihak berelasi/      Pihak ketiga/
                                               Related parties      Third parties          Total

    Rupiah                                                                                                                             Rupiah
     Giro                                               2.291             408.305             410.596                     Demand deposits
     Tabungan                                             384             405.030             405.414                      Saving deposits
     Deposito berjangka dan deposito on call           13.498           7.340.219           7.353.717     Time deposits and on call deposits

                                                       16.173           8.153.554           8.169.727

    Valuta asing                                                                                                          Foreign currencies
     Giro                                              15.141           1.203.846           1.218.987                     Demand deposits
     Deposito berjangka dan deposito on call           66.097           1.149.813           1.215.910     Time deposits and on call deposits

                                                       81.238           2.353.659           2.434.897

    Total                                              97.411          10.507.213          10.604.624                                  Total




                                                                 102
Page 283
                                                                                      The original financial statements included herein are in
                                                                                                                    the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


20. Simpanan dari Nasabah (lanjutan)                                        20. Deposits from Customers (continued)

    Saldo deposito berjangka dan deposito on call                                  The amount of time deposits and on call deposits
    berdasarkan periodenya:                                                        based on period:
                                           2023                                              2022

                                           Valuta                                            Valuta
                                           asing/                                            asing/
                                          Foreign                                           Foreign
                            Rupiah       currencies           Total         Rupiah         currencies     Total

   Kurang dari 1 bulan         788.652     1.138.294          1.926.946      1.147.657         636.774    1.784.431          Less than 1 month
   > 1 - 3 bulan             1.127.229       498.791          1.626.020      2.316.433         429.871    2.746.304             > 1 - 3 months
   > 3 - 6 bulan               708.876        66.370            775.246      2.701.411          56.197    2.757.608             > 3 - 6 months
   > 6 - 12 bulan              516.481        59.031            575.512        987.784          18.344    1.006.128            > 6 - 12 months
   On call                      71.500       153.182            224.682        200.432          74.724      275.156                     On call

   Total                     3.212.738     1.915.668          5.128.406      7.353.717       1.215.910    8.569.627                      Total



    Pada tanggal 31 Desember 2023 dan 2022, jumlah                                 As of December 31, 2023 and 2022, time deposits
    deposito yang dijadikan sebagai jaminan kredit yang                            pledged as loan collateral amounted to Rp16,100
    diberikan adalah masing-masing sebesar Rp16.100                                and Rp31,020, respectively (Note 12).
    dan Rp31.020 (Catatan 12).

    Informasi mengenai suku bunga simpanan dari                                    Information in respect of interest rate of deposits
    nasabah diungkapkan pada Catatan 3c. Informasi                                 from customers is disclosed in Note 3c. Information
    mengenai jatuh tempo simpanan dari nasabah                                     in respect of maturities of deposits from customers
    diungkapkan pada Catatan 3d. Informasi mengenai                                is disclosed in Note 3d. Information regarding the
    klasifikasi dan nilai wajar simpanan dari nasabah                              classification and fair value of deposits from
    diungkapkan pada Catatan 36. Simpanan dari pihak                               customers is disclosed in Note 36. Deposits from
    berelasi diungkapkan pada Catatan 38.                                          related parties are disclosed in Note 38.

    Informasi mengenai simpanan dari nasabah yang                                  Information regarding the currency type of deposits
    diberikan berdasarkan jenis mata uang diungkapkan                              from customers is disclosed in Note 40.
    pada Catatan 40.

21. Simpanan dari Bank Lain                                                 21. Deposits from Other Banks

                                                       2023                 2022
    Rupiah                                                                                                                        Rupiah
     Pihak berelasi                                                                                                       Related party
       Giro (Catatan 38)                                       276                    22                    Demand deposits (Note 38)
     Pihak ketiga                                                                                                          Third parties
       Giro                                                       4                3.215                            Demand deposits
       Deposito berjangka                                         -                2.497                               Time deposits
                                                                  4                5.712
    Mata Uang Asing                                                                                                    Foreign Currencies
     Pihak ketiga                                                                                                             Third parties
       Giro                                                   1.552                1.568                                Demand deposits
    Total                                                     1.832                7.302                                                Total


    Saldo deposito berjangka berdasarkan periodenya:                               The amounts of time deposits based on its period:

                                                       2023                 2022
    Deposito berjangka                                                                                                        Time deposits
     < 1 bulan                                                    -                2.497                                        < 1 month
    Total                                                         -                2.497                                                Total




                                                                      103
Page 284
                                                                                               The original financial statements included herein are in
                                                                                                                             the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                               PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                         As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                       for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                               unless otherwise stated)


21. Simpanan dari Bank Lain (lanjutan)                                              21. Deposits from Other Banks (continued)

    Informasi mengenai suku bunga simpanan dari bank                                       Information in respect of interest rate of deposits
    lain diungkapkan pada Catatan 3c. Informasi                                            from other banks is disclosed in Note 3c. Information
    mengenai jatuh tempo simpanan dari bank lain                                           in respect of maturities of deposits from other banks
    diungkapkan pada Catatan 3d. Informasi mengenai                                        is disclosed in Note 3d. Information regarding the
    klasifikasi dan nilai wajar simpanan dari bank lain                                    classification and fair value of deposits from other
    diungkapkan pada Catatan 36. Simpanan dari pihak                                       banks is disclosed in Note 36. Deposits from related
    berelasi diungkapkan pada Catatan 38.                                                  parties are disclosed in Note 38.

    Informasi mengenai simpanan dari bank lain                                             Information regarding the currency type of deposits
    berdasarkan jenis mata uang diungkapkan pada                                           from other banks is disclosed in Note 40.
    Catatan 40.

22. Efek-efek yang Dijual dengan Janji Dibeli                                       22. Securities Sold                     Under      Agreements                to
    Kembali                                                                             Repurchase
                                                                            2023

                        Efek yang
                        mendasari/           Rentang tanggal                  Rentang tanggal             Harga pembelian   Beban bunga        Nilai tercatat/
   Pihak lawan/         Underlying              penjualan/                   pembelian kembali/              kembali/     yang belum diakui/     Carrying
   Counterparty         securities           Range of sell date              Range of resale date         Repurchase price Unpaid interest        amount

                    Obligasi pemerintah/   6 Des 2023 - 20 Des 2023/          3 Jan 2024 - 17 Jan 2024/
   Bank Indonesia   Government bonds       Dec 6, 2023 - Dec 20, 2023        Jan 3, 2024 - Jan 17, 2024           386.565             1.514             385.051



23. Pinjaman Diterima                                                               23. BORROWING

                                                             2023                   2022
    Rupiah                                                                                                                                      Rupiah
       PT Bank Central Asia Tbk                                         -            1.000.000                               PT Bank Central Asia Tbk
    Total                                                               -            1.000.000                                                           Total


    Berdasarkan Perjanjian Kredit No. 205.170.2021                                         Based on the Credit Agreement No. 205.170.2021
    tanggal 3 Juni 2020, Bank BCA setuju memberikan                                        dated June 3, 2020, Bank BCA agreed to provide a
    Fasilitas Term Loan Revolving dengan jumlah                                            Term Loan Revolving Facility with maximum amount
    maksimum sebesar Rp1.000.000 untuk modal kerja                                         of Rp1,000,000 for working capital to the Bank
    Bank (General Funding Purpose).                                                        (General Funding Purpose).

    Pinjaman ini dikenakan tingkat suku bunga sebesar                                      The borrowing are subject to interest rate JIBOR
    JIBOR dengan marjin tertentu per tahun untuk                                           plus certain margin during the loan period for 12
    jangka waktu pinjaman selama 12 (dua belas) bulan.                                     (twelve) months.

    Pada tahun 2021, Bank mendapatkan perpanjangan                                         In 2021, the Bank obtained an extension of the
    fasilitas selama 24 (dua puluh empat) bulan sampai                                     facility for 24 (twenty-four) months until June 3,
    dengan 3 Juni 2023.                                                                    2023.

    Adapun syarat dan ketentuan yang wajib dipenuhi                                        The terms and conditions that must be met by the
    oleh Bank antara lain (i) menyampaikan laporan                                         Bank are as follows; (i) provide annual financial
    keuangan tahunan yang telah diaudit oleh Kantor                                        statement which has been audited by a Listed Public
    Akuntan Publik Terdaftar, (ii) menyampaikan neraca                                     Accountant Firm, (ii) provide monthly balance sheet
    dan perhitungan laba rugi setiap bulan, (iii)                                          and income statement, (iii) provide quarterly
    menyampaikan neraca dan perhitungan laba rugi                                          balance sheet and income statement.
    triwulanan.

    Perjanjian tersebut dijamin dengan Standby Letter of                                   The agreement is secured by Standby Letter of
    Credit dari Qatar National Bank (Q.P.S.C.) dalam                                       Credit from Qatar national Bank (Q.P.S.C.) with total
    jumlah Rp1.000.000.                                                                    amount of Rp1,000,000.




                                                                        104
Page 285
                                                                               The original financial statements included herein are in
                                                                                                             the Indonesian language.

         PT BANK QNB INDONESIA TBK                                            PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                    for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                            unless otherwise stated)


23. Pinjaman Diterima (lanjutan)                                   23. BORROWING (continued)

    Bank telah melakukan pelunasan untuk pinjaman ini                     The Bank made prepayment for this loan on
    pada tanggal 2 Juni 2023. Tidak ada penalti yang                      June 2, 2023. No penalty has been charged to the
    dibebankan kepada Bank atas pelunasan ini.                            Bank for this prepayment.

24. Pajak Penghasilan                                              24. Income Tax

    a.   Beban pajak penghasilan terdiri dari:                            a.    The components of income tax expense are as
                                                                                follows:

                                                 2023              2022
         Pajak kini                                          -                  -                                        Current tax
         Pajak tangguhan                                     -                  -                                       Deferred tax
         Total                                               -                  -                                              Total


    b.   Berdasarkan Undang-Undang perpajakan di                          b.    Under the Indonesian taxation laws, the Bank
         Indonesia,        Bank     menghitung        dan                       submits tax returns on a self-assessment basis.
         melaporkan/menyetorkan pajak berdasarkan                               The Director General of Tax (DGT) may assess
         sistem self-assesment. Direktur Jendral Pajak                          or amend taxes within 5 (five) years since the
         (DJP) dapat menetapkan atau mengubah                                   tax becomes due.
         liabilitas pajak dalam waktu 5 (lima) tahun sejak
         saat terutangnya pajak.

    c.   Rekonsiliasi antara rugi sebelum manfaat pajak                   c.    The reconciliation between loss before income
         penghasilan yang disajikan dalam laporan laba                          tax benefit as presented in the statement profit
         rugi dan penghasilan komprehensif lain dengan                          or loss and other comprehensive income and
         rugi kena pajak untuk tahun yang berakhir pada                         taxable     loss   for    the    year   ended
         tanggal-tanggal 31 Desember 2023 dan 2022                              December 31, 2023 and 2022, is as follows:
         adalah sebagai berikut:

                                                 2023              2022
         Laba (rugi) sebelum beban                                                                      Profit (loss) before income
           pajak penghasilan                        69.249          (400.732)                                        tax expenses

         Beda waktu:                                                                                          Timing differences:
         Cadangan kerugian penurunan                                                               Allowance for impairment losses
            nilai kredit                           111.303            87.827                                            on loans
         Cadangan kerugian penurunan lainnya          (408)          (80.305)                Other Allowance for impairment losses
         Bonus dan tunjangan yang
            masih harus dibayar                     13.574             (5.232)                      Accrued bonus and allowances
         Imbalan pasca-kerja                          (370)            (3.257)                         Post-employment benefits
         Penyusutan aset hak guna dan                                                        Depreciation of right-of-use assets and
            beban bunga liabilitas sewa                 7.696        (13.937)                   interest expense of lease liability
         Cadangan kerugian penurunan                                                           Allowance for impairment losses on
            nilai agunan yang diambil alih         (35.701)          (88.529)                                    foreclosed assets
         Penyusutan aset tetap dan                                                                 Depreciation of fixed assets and
            amortisasi aset takberwujud              (4.777)          21.908                     amortization of intangible assets
                                                    91.317           (81.525)

         Beda tetap                                                                                         Permanent differences
         Bentuk natura dan kenikmatan                    19                 172                                    Benefits in kind
         Lain-lain                                   (1.254)              3.490                                             Others
                                                     (1.235)              3.662
         Laba (rugi) kena pajak                    159.331          (478.595)                                 Taxable income (loss)
         Akumulasi rugi fiskal tahun                                                                       Prior year’s accumulated
            sebelumnya                           (2.705.570)       (2.226.975)                              tax loss carry forward
         Rugi fiskal jatuh tempo                          -                 -                                        Tax los expired
         Total rugi fiskal                       (2.546.239)       (2.705.570)                                      Total fiscal loss



                                                             105
Page 286
                                                                                          The original financial statements included herein are in
                                                                                                                        the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                      PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                              for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                               (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                      unless otherwise stated)


24. Pajak Penghasilan (lanjutan)                                             24. Income Tax (continued)

         Perhitungan pajak penghasilan badan untuk                                         The calculations of corporate income tax for the
         tahun yang berakhir tanggal 31 Desember 2023                                      year ended December 31, 2023 are estimated
         adalah estimasi untuk pengisian SPT 2023 dan                                      numbers for 2023 annual tax return and 2022
         perhitungan pajak penghasilan badan 2022                                          corporate income tax which conform to the
         adalah sesuai dengan SPT Bank.                                                    Bank’s Annual Tax Return.

    d.   Rekonsiliasi antara hasil perkalian rugi sebelum                           d.     The reconciliation between loss before income
         beban pajak penghasilan dengan tarif pajak                                        tax expense multiplied by the prevailing tax rate
         yang berlaku dan manfaat pajak penghasilan                                        and income tax benefit are as follows:
         adalah sebagai berikut:

                                                      2023                   2022
         Laba (rugi) sebelum beban                                                                                               Profit (loss) before
            pajak penghasilan                             69.249               (400.732)                                       income tax benefit
         Tarif pajak yang berlaku                           22%                    22%                                            Prevailing tax rate
                                                         (15.235)                88.161
         Beda permanen dengan tarif pajak 22%                272                   (806)                Permanent differences at 22% tax rate
         Dampak perubahan tarif pajak                                                 -                          Impact of change in tax rate
         Provisi atas pajak tangguhan                           -                     -                             Provision on deferred tax
         Dampak aset pajak tangguhan
            rugi fiskal                                   14.963                (87.355)               Impact of deferred tax assets of tax loss
         Beban pajak                                            -                          -                                Income tax expenses


    e.   Rincian aset (liabilitas) pajak tangguhan pada                             e.     The details of the deferred tax assets (liabilities)
         tanggal 31 Desember 2023 dan 2022 adalah                                          as of December 31, 2023 and 2022, are as
         sebagai berikut:                                                                  follows:

                                                                              Diakui pada
                                                                             penghasilan
                                                                            komprehensif
                                                       Diakui pada         lain/Recognized
                                                        laba rugi/              in other
                                                      Recognized in        comprehensive
                                         2022            profit or           loss income              2023

         Aset (liabilitas) pajak
           tangguhan:                                                                                                Deferred tax assets (liabilities):
             Liabilitas imbalan                                                                                                  Post-employment
                pasca-kerja                14.976                   (83)                  (112)           14.781              benefits obligation
             Cadangan kerugian
                penurunan nilai                                                                                           Allowance for impairment
                nilai aset keuangan        73.685             13.271                           -          86.956       losses on financial assets
             Bonus dan tunjangan
                yang masih                                                                                                          Accrued bonus
                harus dibayar              10.937             (4.650)                          -             6.287               and allowanes
             Selisih nilai buku aset                                                                                 Differences in net book value
                tetap, aset hak guna                                                                                of fixed assets, right-of-use
                dan aset tak berwujud                                                                              assets and intangible assets
                antara dasar pengenaan                                                                                         between tax and
                pajak dan akuntansi        13.417             (8.681)                                        4.736            accounting bases
             Cadangan kerugian
                penurunan nilai agunan                                                                                    Allowance for impairment
                yang diambil alih          15.625             (7.855)                          -             7.770   losses on foreclosed assets
             Rugi belum direalisasi
                dari perubahan nilai                                                                                           Unrealized loss from
                wajar efek-efek yang                                                                                     changes in fair value of
                tersedia untuk dijual      (7.948)                    -                  7.966                  18   available-for-sale securities
             Kerugian pajak tahun
                berjalan                  150.944              8.858                           -         159.802                   Current tax loss
             Cadangan kerugian                                                                                                 Other Allowance for
                penurunan lainnya               864             (860)                          -                 4            impairment losses

         Aset pajak tagguhan - neto       272.500                     -                  7.854           280.354            Deferred tax assets - net




                                                                106
Page 287
                                                                                      The original financial statements included herein are in
                                                                                                                    the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                   PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                           for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                   unless otherwise stated)


24. Pajak Penghasilan (lanjutan)                                           24. Income Tax (continued)

    e.   Rincian aset (liabilitas) pajak tangguhan pada                         e.      The details of the deferred tax assets (liabilities)
         tanggal 31 Desember 2023 dan 2022 adalah                                       as of December 31, 2023 and 2022, are as
         sebagai berikut: (lanjutan)                                                    follows: (continued)

                                                                            Diakui pada
                                                                           penghasilan
                                                                          komprehensif
                                                      Diakui pada        lain/Recognized
                                                       laba rugi/             in other
                                                     Recognized in       comprehensive
                                         2021           profit or          loss income            2022

         Aset (liabilitas) pajak
           tangguhan:                                                                                           Deferred tax assets (liabilities):
             Liabilitas imbalan                                                                                             Post-employment
                pasca-kerja                17.955              (716)                 (2.263)          14.976             benefits obligation
             Cadangan kerugian
                penurunan nilai                                                                                      Allowance for impairment
                nilai aset keuangan        54.363            19.322                       -           73.685      losses on financial assets
             Bonus dan tunjangan
                yang masih                                                                                                    Accrued bonus
                harus dibayar              12.088            (1.151)                      -           10.937               and allowanes
             Selisih nilai buku asset                                                                          Differences in net book value
                tetap, aset hak guna                                                                          of fixed assets, right-of-use
                dan aset takberwujud                                                                         assets and intangible assets
                antara dasar pengenaan                                                                                   between tax and
                pajak dan akuntansi        11.664             1.753                       -           13.417            accounting bases
             Cadangan kerugian
                penurunan nilai agunan                                                                               Allowance for impairment
                yang diambil alih          35.101           (19.476)                      -           15.625    losses on foreclosed assets
             Rugi belum direalisasi
                dari perubahan nilai                                                                                      Unrealized loss from
                wajar efek-efek yang                                                                                changes in fair value of
                tersedia untuk dijual      (2.426)                   -               (5.522)          (7.948)   available-for-sale securities
             Kerugian pajak tahun
                berjalan                  133.009            17.935                       -          150.944                  Current tax loss
             Cadangan kerugian                                                                                            Other Allowance for
                Penurunan lainnya          18.531           (17.667)                      -              864             impairment losses

         Aset pajak tagguhan - neto       280.285                    -               (7.785)         272.500           Deferred tax assets - net



    f.   Manajemen Bank berkeyakinan bahwa seluruh                              f.      The Bank’s management believes that total
         aset pajak tangguhan diatas pada Catatan 24                                    deferred tax assets above on Note 24 are
         kemungkinan besar dapat direalisasi pada                                       probable to be realized in the future years.
         tahun-tahun mendatang.

    g.   Pada 31 Desember 2023 dan 2022, Bank                                   g.      As of December 31, 2023 and 2022, the Bank
         memiliki akumulasi rugi fiskal untuk tahun 2023                                had tax loss carryforwards for fiscal years 2023
         dan 2022 sebesar Rp2.546.239 dan                                               and 2022 amounted Rp2,546,239 and
         Rp2.705.570 yang akan berakhir di tahun                                        Rp2,705,570 which will expire between 2024 -
         antara 2024 - 2028.                                                            2028.

    h.   Aset pajak tangguhan atas rugi fiskal yang                             h.      Deferred tax asset on tax loss carryforwards
         belum dikompensasi sebesar Rp159.802 diakui                                    amounted to Rp159,802 have been recognized
         karena laba fiskal pada masa mendatang akan                                    because future taxable profits will be available
         tersedia untuk dikompensasi dimana Bank bisa                                   against which the Bank can utilize the benefits
         memanfaatkan keuntungan dari hal ini.                                          there from.




                                                               107
Page 288
                                                                                  The original financial statements included herein are in
                                                                                                                the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                  PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                            As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                          for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                  unless otherwise stated)


25. Liabilitas Imbalan Kerja                                            25. Employment Benefits

    Imbalan Pasca Kerja                                                         Post Employee Benefits

    Bank wajib memberikan imbalan pasca-kerja                                   Bank is required to provide post-employment
    kepada karyawannya pada saat pemutusan                                      benefits to its employees when their employment is
    hubungan kerja atau pada saat karyawan                                      terminated or when they retire. These benefits are
    menyelesaikan masa kerjanya. Imbalan pasca-kerja                            primarily based on years of service and the
    ini diberikan terutama berdasarkan masa kerja dan                           employees’ compensation at termination or
    kompensasi karyawan pada saat pemutusan                                     retirement. Provision of post-employment benefits
    hubungan kerja atau selesainya masa kerja.                                  for Bank employees who join on and after January 1,
    Pemberian imbalan pasca-kerja kepada karyawan                               2022 refers to Job Creation Law No. 11/2020 and
    Bank yang bergabung saat dan setelah 1 Januari                              the accompaniying Government Regulation
    2022 mengacu pada Undang-Undang Cipta Kerja                                 No.35/2021, while the provision of post-employment
    No.     11/2020     dan    Peraturan  Pemerintah                            benefits for Bank employees who join before
    No. 35/2021, sedangkan pemberian imbalan pasca                              January 1, 2022 refers to Labor Law No. 13/2013.
    kerja kepada karyawan Bank yang bergabung
    sebelum 1 Januari 2022 mengacu pada Undang-
    Undang Ketenagakerjaan No. 13/2013.

    Imbalan jangka panjang lainnya                                              Other long-term benefits

    Imbalan jangka panjang lainnya terdiri dari cuti                            Other long-term benefits consist of long service
    panjang. Program cuti panjang dikelola sendiri oleh                         leave. The long service leave program is managed
    Bank dan merupakan program imbalan kerja bagi                               by the Bank itself and is an employee benefit
    karyawan untuk penggantian hak cuti panjang.                                program for employees to reimburse long service
                                                                                leave rights.

    Tabel berikut menyajikan liabilitas imbalan kerja                           The following table summarizes the obligation for
    Bank yang tercatat di laporan posisi keuangan pada                          employment benefits of the Bank as recorded in the
    tanggal 31 Desember 2023 dan 2022, dan                                      statement of financial position as of December 31,
    perubahan liabilitas imbalan kerja dan beban yang                           2023 and 2022, and movement in the obligation and
    diakui dalam laporan laba rugi dan penghasilan                              expense recognized in the statement of profit or loss
    komprehensif lain untuk tahun yang berakhir tanggal                         and other comprehensive income for the years
    31 Desember 2023 dan 2022:                                                  ended December 31, 2023 and 2022:
                                                                2023

                                               Imbalan       Manfaat Cuti
                                            Pasca Kerja/      Panjang/
                                          Post Employment    Long Leave
                                                Benefit        Benefit                Total

                                                                                                                Present value of obligation for
    Nilai kini liabilitas                                                                                              employment benefits,
        awal tahun                                 61.628              6.438              68.066                       beginning of the year
    Diakui melalui laba atau rugi                                                                                   Recognized in profit or loss
        Beban jasa kini                            11.261              1.268              12.529                        Current service cost
        Beban atas kewajiban                        3.663                409               4.072                       Interest on obligation

    Pengukuran kembali atas imbalan                                                                                   Remeasurement of other
       jangka panjang lainnya                           -              1.236                  1.236                     long-term benefit

                                                   14.924              2.913              17.837
    Diakui melalui pendapatan                                                                                              Recognized in other
        komprehensif lainnya                                                                                         comprehensive income
        Keuntungan aktuarial                                                                                                  Actuarial gain
        yang muncul dari:                                                                                                      arising from:
           Penyesuaian pengalaman                    (509)                  -                  (509)               Experience adjustment
   Pembayaran imbalan kerja                                                                                               Payments of benefits
        selama tahun berjalan                     (16.628)           (1.579)             (18.207)                            during the year

    Nilai kini liabilitas imbalan kerja                                                                       Present value of obligation for
        akhir tahun                                59.415              7.772              67.187       employment benefits, end of the year




                                                              108
Page 289
                                                                                   The original financial statements included herein are in
                                                                                                                 the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                   PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                           for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                   unless otherwise stated)


25. Liabilitas Imbalan Kerja (lanjutan)                                  25. Employment Benefits (continued)

    Imbalan jangka panjang lainnya (lanjutan)                                    Other long-term benefits (continued)

    Tabel berikut menyajikan liabilitas imbalan kerja                            The following table summarizes the obligation for
    Bank yang tercatat di laporan posisi keuangan pada                           employment benefits of the Bank as recorded in the
    tanggal 31 Desember 2023 dan 2022, dan                                       statement of financial position as of December 31,
    perubahan liabilitas imbalan kerja dan beban yang                            2023 and 2022, and movement in the obligation and
    diakui dalam laporan laba rugi dan penghasilan                               expense recognized in the statement of profit or loss
    komprehensif lain untuk tahun yang berakhir tanggal                          and other comprehensive income for the years
    31 Desember 2023 dan 2022: (lanjutan)                                        ended December 31, 2023 and 2022: (continued)

                                                               2022

                                                Imbalan       Manfaat Cuti
                                             Pasca Kerja/      Panjang/
                                           Post Employment    Long Leave
                                                 Benefit        Benefit                Total

                                                                                                                 Present value of obligation for
    Nilai kini liabilitas imbalan kerja                                                                                 employment benefits,
        awal tahun                                  73.937              7.637              81.610                        beginning of the year
    Diakui melalui laba atau rugi                                                                                    Recognized in profit or loss
        Beban jasa kini                              8.373               (111)                 8.262                      Current service cost
        Beban atas kewajiban                         4.211                421                  4.632                     Interest on obligation
        Pengukuran kembali atas imbalan                                                                             Remeasurement of other
            jangka panjang lainnya                  (1.500)                  -             (1.500)                        long-term benefit
        Penyesuaian atas perubahan                                                                               Adjustment due to change in
            metode atribusi manfaat                 (6.094)                  -             (6.094)               benefit attribution method

                                                     4.990               310                   5.300
    Diakui melalui pendapatan                                                                                              Recognized in other
        komprehensif lainnya                                                                                          comprehensive income
        Keuntungan aktuarial                                                                                                   Actuarial gain
        yang muncul dari:                                                                                                       arising from:
           Penyesuaian pengalaman                  (10.288)                  -            (10.288)                 Experience adjustment
     Pembayaran imbalan kerja                                                                                             Payments of benefits
        selama tahun berjalan                       (7.011)           (1.545)              (8.556)                            during the year

    Nilai kini liabilitas imbalan kerja                                                                        Present value of obligation for
        akhir tahun                                 61.628              6.438              68.066       employment benefits, end of the year



    Mutasi atas nilai kini liabilitas imbalan kerja untuk                        The movement in the present value of obligation for
    tahun yang berakhir pada tanggal 31 Desember                                 employment benefit for the years ended
    2023 dan 2022:                                                               December 31, 2023 and 2022, are as follows:

                                                                 2023

                                                Imbalan       Manfaat Cuti
                                             Pasca Kerja/      Panjang/
                                           Post Employment    Long Leave
                                                 Benefit        Benefit                Total
                                                                                                                  Present value of obligation for
    Nilai kini liabilitas imbalan kerja,                                                                               employment benefits,
     awal tahun                                     61.628              6.438              68.066                      beginning of the year
    Beban jasa kini                                 11.261              1.268              12.529                          Current service cost
    Beban jasa lalu                                      -              1.236               1.236                             Past service cost
    Beban atas kewajiban                             3.663                409               4.072                         Interest on obligation
    Pengukuran kembali atas                                                                                         Remeasurement of defined
     program manfaat pasti                            (509)                  -                  (509)                            benefit plan
    Pembayaran imbalan kerja                                                                                              Payments of benefits
     selama tahun berjalan                         (16.628)           (1.579)             (18.207)                            during the year
                                                                                                                Present value of obligation for
    Nilai kini liabilitas imbalan                                                                                  for employment benefits,
     kerja akhir tahun                              59.415              7.772              67.187                            end of the year




                                                               109
Page 290
                                                                                               The original financial statements included herein are in
                                                                                                                             the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                             PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                                     for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                      (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                             unless otherwise stated)


25. Liabilitas Imbalan Kerja (lanjutan)                                           25. Employment Benefits (continued)

    Mutasi atas nilai kini liabilitas imbalan kerja untuk                                  The movement in the present value of obligation for
    tahun yang berakhir pada tanggal 31 Desember                                           employment benefit for the years ended
    2023 dan 2022: (lanjutan)                                                              December 31, 2023 and 2022, are as follows:
                                                                                           (continued)

                                                                         2022
                                                Imbalan                 Manfaat Cuti
                                             Pasca Kerja/                Panjang/
                                           Post Employment              Long Leave
                                                 Benefit                  Benefit                     Total
                                                                                                                                 Present value of obligation for
    Nilai kini liabilitas imbalan kerja,                                                                                              employment benefits,
     awal tahun                                         73.937                  7.673                     81.610                       beginning of the year
    Beban jasa kini                                      8.373                   (111)                     8.262                           Current service cost
    Beban jasa lalu                                     (1.500)                     -                     (1.500)                               Past service cost
    Beban atas kewajiban                                 4.211                    421                      4.632                          Interest on obligation
    Pengukuran kembali atas                                                                                                         Remeasurement of defined
     program manfaat pasti                              (10.288)                       -                 (10.288)                                 benefit plan
    Pembayaran imbalan kerja                                                                                                              Payments of benefits
     selama tahun berjalan                               (7.011)                (1.545)                   (8.556)                              during the year
    Penyesuaian atas perubahan                                                                                                    Adjustment due to change in
     metode atribusi manfaat                             (6.094)                       -                  (6.094)                  benefit attribution method

                                                                                                                               Present value of obligation for
    Nilai kini liabilitas imbalan                                                                                                 for employment benefits,
     kerja akhir tahun                                  61.628                  6.438                     68.066                            end of the year



    Perhitungan liabilitas imbalan kerja dan imbalan                                       The calculation of obligation for employment
    jangka panjang lainnya pada tanggal 31 Desember                                        benefits and other long term benefit as of
    2023 dan 2022 masing-masing dilakukan oleh                                             December 31, 2023 and 2022 was performed by
    Santhi Devi & Ardianto Handoyo (dahulu Willis                                          Santhi Devi & Ardianto Handoyo and (formerly Willis
    Tower Watson) sebagai aktuaris independen                                              Towers Watson) as the independent actuary based
    berdasarkan laporannya masing-masing pada                                              on its reports dated January 29, 2024 and January
    tanggal 29 Januari 2024 dan 18 Januari 2023.                                           18, 2023, respectively. Obligation for employment
    Liabilitas imbalan pasti tersebut dihitung dengan                                      benefits are calculated using the “Projected Unit
    menggunakan metode “Projected Unit Credit” dan                                         Credit” method with the following assumptions:
    asumsi-asumsi signifikan sebagai berikut:

                                                           2023                   2022

    Tingkat diskonto per tahun                              6,50%                    6,75%                                        Discount rate per annum
    Kenaikan gaji per tahun                                 5,00%                    5,00%                                      Salary increase per annum
    Usia pensiun                                    55 tahun/years           55 tahun/years                                                   Pension age
                                                   Tabel TMI 2019/          Tabel TMI 2019/
    Tingkat kematian                               TMI 2019 Table           TMI 2019 Table                                                      Mortality rate

    Jumlah penyesuaian yang timbul pada liabilitas                                         The amounts of experience adjustments arising on
    program untuk tahun yang berakhir pada tanggal 31                                      the plan liabilities for the three ended 31 December
    Desember 2023 dan posisi tiga tahun sebelumnya                                         2023 and previous four years are as follows
    adalah sebagai berikut (tidak diaudit):                                                (unaudited):

                                           2023                  2022                  2021                   2020

                                                                                                                                              Present value of
    Nilai kini liabilitas                    (59.415)              (61.628)                (81.610)                 (74.016)              benefits obligation

                                                                                                                                        Experience adjustment
    Penyesuaian liabilitas                        509               10.288                    5.956                 10.418                        on liability




                                                                         110
Page 291
                                                                                       The original financial statements included herein are in
                                                                                                                     the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                     PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                             for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                              (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                     unless otherwise stated)


25. Liabilitas Imbalan Kerja (lanjutan)                                     25. Employment Benefits (continued)

    Sensitivitas dari liabilitas manfaat pasti terhadap                           The sensitivity of defined benefit obligation to
    perubahan asumsi aktuaria adalah sebagai berikut:                             changes in the weighted assumptions are as
    (tidak diaudit)                                                               follows: (unaudited)

                                                                           Dampak Tehadap Liabilitas Manfaat Pasti/
                                                                             Impact on Defined Benefit Obligation
                                                                                                      2023                        2022
                                                                                                  Nilai Kini                  Nilai Kini
                                                                                                  Liabilitas                  Liabilitas
                                                                                                Manfaat Pasti/              Manfaat Pasti/
                                                        Perubahan Asumsi/                      Present value of            Present value of
                                                       Change in Assumption                   Benefit obligation          Benefit obligation
    Tingkat diskonto/                                   Kenaikan/Increase 1%                                 (3.329)                     (2.912)
    Discount rate                                      Penurunan/Decrease 1%                                  3.653                       3.195

    Tingkat kenaikan gaji/                              Kenaikan/Increase 1%                                  3.673                       3.219
    Salary increase rate                               Penurunan/Decrease 1%                                 (3.407)                     (2.986)


    Jatuh tempo dari liabilitas manfaat pasti yang tidak                          Expected maturity analysis of undiscounted defined
    terdiskonto pada tanggal-tanggal 31 Desember                                  benefits obligation as of December 31, 2023 and
    2023 dan 2022: (tidak diaudit)                                                2022: (unaudited)

                                                       2023                2022
    1 tahun                                                 5.623               5.334                                                    1 year
    >1-5 tahun                                             49.549              42.308                                                >1-5 years
    >5-10 tahun                                            72.942              69.466                                               >5-10 years


26. Beban yang Masih Harus Dibayar dan Liabilitas                           26. Accruals and Other Liabilities
    Lain-lain
                                                       2023                2022
    LiabilItas sewa                                       106.636             124.580                                             Lease liability
    Beban operasional yang masih
       harus dibayar                                       68.610              64.399                            Accrued operational expense
    Kesejahteraan karyawan                                 25.893              11.391                                      Employee welfare
    Liabilitas bunga                                       22.797              35.458                                       Interests payable
    Biaya bancassurance yang
       belum diamortisasi                                  21.818              25.455                        Unamortized bancassurance fee
    Uang muka atas penjualan                                                                                      Down payment funds from
       agunan yang diambil alih                               3.806            53.628                          sales of foreclosed assets
    Setoran jaminan                                             265             5.094                                       Security deposits
    Liabilitas lainnya*                                       4.545            13.217                                        *Other Liabilities

    Total                                                 254.370             333.222                                                       Total


    *)   Liabilitas lainnya terdiri dari suspense account dan uang                *)    Other liabilities consist of suspense account and electronic
         elektronik.                                                                    money.




                                                                     111
Page 292
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

        PT BANK QNB INDONESIA TBK                                           PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


27. Modal Saham dan Dana Setoran Modal                           27. Share Capital and Advanced Capital

   Komposisi pemegang saham Bank pada tanggal                           The composition of the Banks’ shareholders as of
   31 Desember 2023 dan 2022 adalah sebagai                             December 31, 2023 and 2022, is as follows:
   berikut:

                                                         2023
                                                      Persentase
                                                     kepemilikan/
                                    Total saham/      Percentage
                                     Number of       of ownership
                                       shares             (%)                Total

   Qatar National Bank (Q.P.S.C.)   33.621.884.939              95,63          8.405.471            Qatar National Bank (Q.P.S.C.)
   Masyarakat (masing-masing
      di bawah 5%)                   1.536.163.426               4,37            384.041                   Public (each below 5%)
   Total                            35.158.048.365            100,00           8.789.512                                    Total


                                                         2022
                                                      Persentase
                                                     kepemilikan/
                                    Total saham/      Percentage
                                     Number of       of ownership
                                       shares             (%)                Total

   Qatar National Bank (Q.P.S.C.)   18.900.786.704              92,48          4.725.197            Qatar National Bank (Q.P.S.C.)
   Masyarakat (masing-masing
      di bawah 5%)                   1.535.899.280               7,52            383.974                   Public (each below 5%)

   Total                            20.436.685.984            100,00           5.109.171                                    Total



   Berdasarkan Rapat Umum Pemegang Saham Luar                           Based on the Second Extraordinary Shareholder’s
   Biasa Kedua pada tanggal 26 Juni 2009,                               General Meeting on June 26, 2009, effected by deed
   sebagaimana dinyatakan dalam akta No. 85 tanggal                     No. 85 dated June 26, 2009 of Fathiah Helmi, SH,
   26 Juni 2009 yang dibuat dihadapan Fathiah Helmi,                    notary public in Jakarta, the Bank released the First
   SH, notaris di Jakarta, Bank melakukan Penawaran                     Limited Public Offering (PUT I) by issuing the Rights
   Umum Terbatas I (PUT I) dengan menerbitkan Hak                       Issue (HMETD) amounting to 125,304,750 shares
   Memesan Efek Terlebih Dahulu (HMETD) sejumlah                        with par value of Rp250 (full amount) per share at
   125.304.750 saham dengan nilai nominal sebesar                       an offering price of Rp320 (full amount) per share.
   Rp250 (nilai penuh) per saham yang ditawarkan                        This share issuance through PUT I resulted in
   dengan harga Rp320 (dalam Rupiah penuh) per                          additional paid-in capital of Rp8,771.
   saham. Penerbitan saham melalui PUT I tersebut
   menghasilkan agio saham sebesar Rp8.771.

   Setelah PUT I, modal ditempatkan dan disetor Bank                    After the PUT I, the Bank’s issued and fully paid
   meningkat menjadi 626.523.750 lembar saham atau                      capital increased to 626,523,750 shares or
   senilai Rp156.631.                                                   Rp156,631.

   Berdasarkan Rapat Umum Pemegang Saham Luar                           Based on the Extraordinary Shareholder’s General
   Biasa pada tanggal 27 Desember 2010                                  Meeting on December 27, 2010, as effected by deed
   sebagaimana dinyatakan dalam akta No. 63 tanggal                     No. 63 dated December 27, 2010 of Fathiah Helmi,
   27 Desember 2010 yang dibuat di hadapan Fathiah                      SH, notary public in Jakarta, the Bank released the
   Helmi, SH, notaris di Jakarta, Bank melakukan                        Second Limited Public Offering (PUT II) by issuing
   Penawaran Umum Terbatas II (PUT II) dengan                           the Rights Issue (HMETD) amounting to
   menerbitkan Hak Memesan Efek Terlebih Dahulu                         2,935,263,768 shares with par value and at the
   (HMETD) sejumlah 2.935.263.768 saham dengan                          offering price of Rp250 (in full Rupiah) per share.
   nilai nominal dan harga penawaran sebesar Rp250
   (dalam Rupiah penuh) per saham.

   Setelah PUT II, modal ditempatkan dan disetor Bank                   After the PUT II, the Bank’s issued and fully paid
   meningkat menjadi 3.561.787.518 saham atau                           capital increased to 3,561,787,518 shares or
   senilai Rp890.447.                                                   Rp890,447.



                                                        112
Page 293
                                                                      The original financial statements included herein are in
                                                                                                    the Indonesian language.

        PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


27. Modal Saham dan Dana Setoran Modal (lanjutan)              27. Share Capital and Advanced Capital (continued)

   Berdasarkan Akta Akuisisi No. 26 tanggal                        Based on the Acquisition Deed No. 26 dated
   26 Januari 2011 yang dibuat di hadapan Fathiah                  January 26, 2011, of Fathiah Helmi, SH, notary
   Helmi, SH, notaris di Jakarta, Bank dan Qatar                   public in Jakarta, the Bank and Qatar National Bank
   National Bank (Q.P.S.C.) telah menandatangani                   (Q.P.S.C.) have signed the Deed of Acquisition
   Akta Akuisisi dimana Qatar National Bank                        where Qatar National Bank (Q.P.S.C.) as a standby
   (Q.P.S.C.) sebagai pembeli siaga dalam rights issue             buyer in the rights issue has acquired 2,478,728,032
   telah memperoleh 2.478.728.032 saham biasa atas                 ordinary shares of New Shares with a nominal value
   Saham Baru dengan nominal Rp250 (nilai penuh)                   of Rp250 (full amount) per share or Rp619,682.
   per saham atau senilai Rp619.682.

   Pada tanggal 27 Mei 2013, Bank memperoleh                       On May 27, 2013, the Bank obtained the Effective
   Pernyataan Efektif dari Otoritas Jasa Keuangan                  Notification from the Otoritas Jasa Keuangan
   (“OJK”)     berdasarkan     Surat     Keputusan                 (“OJK”) through its Decree No. S-141/D.04/2013 in
   No. S-141/D.04/2013 dalam rangka Penawaran                      relation to the Third Limited Public Offering (PUT III)
   Umum Terbatas III (PUT III) dengan menerbitkan                  by conducting the Rights Issue (HMETD) amounting
   Hak Memesan Efek Terlebih Dahulu (HMETD)                        to 2,596,543,000 shares with par value and at the
   sejumlah 2.596.543.000 saham dengan nilai                       offering price of Rp250 (full amount) per share.
   nominal dan harga penawaran sebesar Rp250 (nilai
   penuh) per saham.

   Setelah PUT III, modal ditempatkan dan disetor                  After the PUT III, the Bank’s issued and fully paid
   Bank meningkat menjadi 6.158.330.518 lembar                     capital increased to 6,158,330,518 shares or
   saham atau senilai Rp1.539.583.                                 Rp1,539,583.

   Pada tanggal 2 Juni 2014, Bank memperoleh                       On June 2, 2014, the Bank obtained the Effective
   Pernyataan Efektif dari OJK berdasarkan Surat                   Notification from the OJK through its Decree
   Keputusan No. S-253/D.04/2014 dalam rangka                      No.S-253/D.04/2014 in relation to the Fourth Limited
   Penawaran Umum Terbatas IV (PUT IV) dengan                      Public Offering (PUT IV) by conducting the Rights
   menerbitkan Hak Memesan Efek Terlebih Dahulu                    Issue (HMETD) amounting to 2,598,815,479 shares
   (HMETD) sejumlah 2.598.815.479 saham dengan                     with par value and at the offering price of Rp250 (full
   nilai nominal dan harga penawaran sebesar Rp250                 amount) per share.
   (nilai penuh) per saham.

   Setelah PUT IV, modal ditempatkan dan disetor                   After the PUT IV, the Bank’s issued and fully paid
   Bank meningkat menjadi 8.757.145.997 lembar                     capital increased to 8,757,145,997 shares or
   saham atau senilai Rp2.189.287.                                 equivalent to Rp2,189,287.

   Berdasarkan Akta Pernyataan Keputusan Rapat                     Based on the Deed of Minutes of Annual
   Umum Pemegang Saham Tahunan Bank No. 37                         Shareholders’ General Meeting of Bank No. 37
   tanggal 27 Februari 2015 yang dibuat di hadapan                 dated February 27, 2015 of Fathiah Helmi, SH,
   Fathiah Helmi, SH, notaris di Jakarta, para                     notary public in Jakarta, the shareholders agreed to
   pemegang saham menyetujui peningkatan modal                     increase the Bank’s authorized share capital from
   dasar Bank dari Rp2.500.000 atau sebanyak                       Rp2,500,000 or 10,000,000,000 shares to
   10.000.000.000 saham, menjadi Rp8.000.000 atau                  Rp8,000,000 or 32,000,000,000 shares.
   sebanyak 32.000.000.000 saham.

   Peningkatan modal dasar tersebut telah disetujui                The increase in the authorized share capital has
   oleh Menteri Hukum dan Hak Asasi Manusia                        been approved by the Minister of Laws and Human
   Republik Indonesia dengan Surat Keputusan                       Rights of the Republic of Indonesia under his
   No. AHU-0004611.AH.01.02 Tahun 2015 tanggal                     Decree No. AHU-0004611.AH.01.02 Year 2015
   24 Maret 2015 serta telah diumumkan dalam Berita                dated March 24, 2015 and was published into the
   Negara Republik Indonesia No. 35 tanggal 30 April               State Gazette of the Republic of Indonesia No. 35
   2015, Tambahan No. 25140.                                       dated April 30, 2015, Addition No. 25140.




                                                         113
Page 294
                                                                   The original financial statements included herein are in
                                                                                                 the Indonesian language.

        PT BANK QNB INDONESIA TBK                                   PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                             As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                           for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                   unless otherwise stated)


27. Modal Saham dan Dana Setoran Modal (lanjutan)           27. Share Capital and Advanced Capital (continued)

   Pada tanggal 14 Desember 2016, Bank                          On December 14, 2016, Bank obtained capital
   memperoleh tambahan modal lainnya berupa dana                injection in the form of advanced capital. The Capital
   setoran modal yang dilakukan dengan cara                     injection is done through fund transfer by Qatar
   penyetoran dana oleh Qatar National Bank                     National Bank (Q.P.S.C.) amounted to USD56
   (Q.P.S.C.) sebesar USD56 juta atau setara dengan             million or equivalent to Rp751,800.
   Rp751.800.

   Pada tanggal 16 Juni 2017, Bank memperoleh                   On June 16, 2017, Bank obtained capital injection in
   tambahan modal lainnya berupa dana setoran                   the form of advanced capital. The Capital injection
   modal yang dilakukan dengan cara penyetoran dana             is done through fund transfer by Qatar National
   oleh Qatar National Bank (Q.P.S.C.) sebesar                  Bank (Q.P.S.C.) amounted to USD36 million or
   USD36 juta atau setara dengan Rp478.000.                     equivalent to Rp478,000.

   Pada tanggal 20 Juni 2017, Bank memperoleh                   On June 20, 2017, the Bank Obtained the Effective
   Pernyataan Efektif dari OJK berdasarkan Surat                Notification from OJK through its Decree
   Keputusan No. S-330/D.04/2017 dalam rangka                   No. S-330/D.04/2017 in relation to the the fifth
   Penawaran Umum Terbatas V (PUT V) dengan                     Limited Public Offering (PUT V) by conducting the
   menerbitkan Hak Memesan Efek Terlebih Dahulu                 Rights Issue (HMETD) amounting to 8,235,719,252
   (HMETD) sejumlah 8.235.719.252 saham dengan                  shares with par value and at the offering price of
   nilai nominal dan harga penawaran sebesar Rp250              Rp250 (full amount) per share.
   (nilai penuh) per saham.

   Setelah PUT V, modal ditempatkan dan disetor                 After the PUT V, the Bank’s issued and fully paid
   Bank meningkat menjadi 16.992.865.249 lembar                 capital increased to 16,992,865,249 shares or
   saham atau senilai Rp4.248.216.                              Rp4,248,216.

   Pada tanggal 4 Desember 2017, Bank memperoleh                On December 4, 2017, Bank obtained capital
   tambahan modal lainnya berupa dana setoran                   injection in the form of advanced capital. The capital
   modal yang dilakukan dengan cara penyetoran dana             injection is done through fund transfer by Qatar
   oleh Qatar National Bank (Q.P.S.C.) sebesar                  National Bank (Q.P.S.C.) amounted to USD61
   USD61 juta atau setara dengan Rp824.110.                     million or equivalent to Rp824,110.

   Pada tanggal 22 Mei 2018, Bank memperoleh                    On May 22, 2018, the Bank Obtained the Effective
   Pernyataan Efektif dari OJK berdasarkan Surat                Notification from OJK through its Decree
   Keputusan No. S-53/D.04/2018 dalam rangka                    No. S-53/D.04/2018 in relation to the the fifth Limited
   Penawaran Umum Terbatas VI (PUT VI) dengan                   Public Offering VI (PUT VI) by conducting the Rights
   menerbitkan Hak Memesan Efek Terlebih Dahulu                 Issue (HMETD) amounting to 3,786,010,377 ares
   (HMETD) sejumlah 3.786.010.377 dengan nilai                  with par value and at the offering price of Rp250 (full
   nominal dan harga penawaran sebesar Rp250 (nilai             amount) per share.
   penuh) per saham.

   Setelah PUT VI, modal ditempatkan dan disetor                After the PUT VI, the Bank’s issued and fully paid
   Bank meningkat menjadi 20.436.685.984 lembar                 capital increased to 20,436,685,984 shares or
   saham atau senilai Rp5.109.171.                              Rp5,109,171.

   Pada tanggal 6 November 2018, Bank memperoleh                On November 6, 2018, Bank obtained capital
   tambahan modal lainnya berupa dana setoran                   injection in the form of advanced capital. The Capital
   modal yang dilakukan dengan cara penyetoran dana             injection is done through fund transfer by Qatar
   oleh Qatar National Bank (Q.P.S.C.) sebesar                  National Bank (Q.P.S.C.) amounted to USD45
   USD45 juta atau setara dengan Rp656.101.                     million or equivalent to Rp656,101.

   Pada tanggal 15 Oktober 2020, Bank memperoleh                On October 15, 2020, Bank obtained capital
   tambahan modal lainnya berupa dana setoran                   injection in the form of advanced capital. The Capital
   modal yang dilakukan dengan cara penyetoran dana             injection is done through fund transfer by Qatar
   oleh Qatar National Bank (Q.P.S.C.) sebesar                  National Bank (Q.P.S.C.) amounted to USD30
   USD30 juta atau setara dengan Rp442.230.                     million or equivalent to Rp442,230.




                                                      114
Page 295
                                                                       The original financial statements included herein are in
                                                                                                     the Indonesian language.

        PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


27. Modal Saham dan Dana Setoran Modal (lanjutan)            27. Share Capital and Advanced Capital (continued)

   Pada 22 Desember 2021, Bank memperoleh                           On December 22, 2021, Bank obtained capital
   tambahan modal berupa dana setoran modal yang                    injection in the form of advanced capital. The Capital
   dilakukan dengan cara penyetoran dana oleh Qatar                 injection is done through fund transfer by Qatar
   National Bank (Q.P.S.C.) sebesar Rp1.500.000.                    National      Bank     (Q.P.S.C.)    amounted       to
                                                                    Rp1,500,000.

   Berdasarkan Akta Pernyataan Keputusan Rapat                      Based on the Deed of Minutes of Annual
   Umum Pemegang Saham Tahunan No. 33 tanggal                       Shareholders’ General Meeting of Bank No. 33
   21 Juli 2022 yang dibuat dihadapan Fathiah Helmi,                dated July 21, 2022 of Fathiah Helmi, SH, notary
   SH, notaris di Jakarta, para pemegang saham                      public in Jakarta, the shareholders agreed to
   menyetujui peningkatan modal dasar Bank dari                     increase the Bank’s authorized share capital from
   Rp8.000.000 atau sebanyak 32.000.000.000                         Rp8,000,000 or 32,000,000,000 shares to
   saham, menjadi Rp10.000.000 atau sebanyak                        Rp10,000,000 or 40,000,000,000 shares.
   40.000.000.000 saham.

   Peningkatan modal dasar tersebut telah disetujui                 The increase in the authorized share capital has
   oleh Menteri Hukum dan Hak Asasi Manusia                         been approved by the Minister of Laws and Human
   Republik Indonesia dengan surat keputusan                        Rights of the Republic of Indonesia under his
   No. AHU-0055864.AH.01.02 Tahun 2022, tanggal 8                   Decree No. AHU-0055864.AH.01.02 Year 2022
   Agustus 2022.                                                    dated August 8, 2022.

   Pada 16 November 2022, Bank memperoleh                           On November 16, 2022, Bank obtained capital
   tambahan modal berupa dana setoran modal yang                    injection in the form of advanced capital. The Capital
   dilakukan dengan cara penyetoran dana oleh Qatar                 injection is done through fund transfer by Qatar
   National Bank (Q.P.S.C.) sebesar USD64.8 juta                    National Bank (Q.P.S.C.) amounted to USD64,8
   atau setara dengan Rp1.000.000.                                  million or equivalent to Rp1,000,000.

   Pada tanggal 28 April 2023, Bank memperoleh                      On April 28, 2023, the Bank obtained the effective
   Pernyataan Efektif dari OJK berdasarkan Surat                    notification from OJK through its Decree No. S-
   Keputusan No. S-109/D.04/2023 dalam rangka                       109/D.04/2023 in relation to the Limited Public
   Penawaran Umum Terbatas VII (PUT VII) dengan                     Offering VII (PUT VII) by conducting the Rights
   menerbitkan Hak Memesan Efek Terlebih Dahulu                     Issue (HMETD) of 14,721,362,381 shares with par
   (HMETD) sejumlah 14.721.362.381 saham dengan                     value and the offering price of Rp250 (in full Rupiah)
   nilai nominal dan harga penawaran sebesar Rp250                  per share.
   (dalam Rupiah penuh) per saham.

   Setelah PUT VII, modal ditempatkan dan disetor                   After Right Issue VII, the issued and paid-in capital
   Bank meningkat menjadi 35.158.048.365 lembar                     of the Bank increased to 35,158,048,365 shares or
   saham atau senilai Rp8.789.512.                                  equal to Rp8,789,512.

28. Tambahan Modal Disetor                                   28. Additional Paid-In Capital

   Tambahan    modal    disetor   pada     tanggal                  The   additional   paid-in  capital    as     of
   31 Desember 2023 dan 2022 berasal dari:                          December 31, 2023 and 2022 were derived from:

                                           2023              2022
   Agio saham                                   8.771            8.771                              Additional paid-in capital
   Beban emisi saham                          (42.359)         (38.921)                              Shares issuance costs
   Total - neto                               (33.588)         (30.150)                                           Total - net


   Beban emisi saham karena penerbitan saham                        Share issuance costs is due to shares issuance
   melalui Penawaran Umum Perdana, PUT I, PUT II,                   through Initial Public Offering, PUT I, PUT II, PUT III,
   PUT III, PUT IV, PUT V, PUT VI dan PUT VII                       PUT IV, PUT V, PUT VI and PUT VII amounting to
   masing-masing sebesar Rp1.635, Rp1.032,                          Rp1,635, Rp1,032, Rp25,562, Rp2,525, Rp2,587,
   Rp25.562, Rp2.525, Rp2.587, Rp3.036, Rp2.544                     Rp3,036, Rp2,544 and Rp3,438, respectively.
   dan 3.438.



                                                       115
Page 296
                                                                         The original financial statements included herein are in
                                                                                                       the Indonesian language.

        PT BANK QNB INDONESIA TBK                                          PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                  for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


29. Cadangan Umum dan Wajib                                     29. General and Legal Reserve

   Cadangan umum dan wajib dibentuk sesuai dengan                      The general and legal reserve was provided in
   Undang-Undang Republik Indonesia No. 1/1995                         relation with the Law of the Republic of Indonesia
   sebagaimana telah diubah dengan Undang-Undang                       No. 1/1995 which has been replaced with the Law
   No. 40/2007 tentang Perseroan Terbatas yang                         No. 40/2007 regarding the Limited Liability Bank
   berlaku efektif sejak tanggal 16 Agustus 2007 yang                  effective on August 16, 2007 which requires
   mewajibkan        perusahaan-perusahaan      untuk                  companies to set up a general reserve amounting to
   membentuk cadangan dengan jumlah paling sedikit                     at least 20% of the issued and paid up share capital.
   20% dari jumlah modal yang ditempatkan dan                          There is no timeline over which this amount should
   disetor. Tidak ada batas waktu pembentukan                          be provided.
   cadangan ini.

   Berdasarkan akta Berita Acara Rapat Umum                            Based on the Annual General Meeting as stated in
   Pemegang Saham Tahunan No. 54 tanggal 30 Mei                        Deed No. 54 dated May 30, 2023 of Notary Fathiah
   2023 dibuat dihadapan Fathiah Helmi, SH, notaris di                 Helmi, SH in Jakarta, approved loss for the year
   Jakarta, disetujui penetapan rugi bersih tahun 2022.                2022.

   Berdasarkan akta Berita Acara Rapat Umum                            Based on the Annual General Meeting as stated in
   Pemegang Saham Tahunan No. 32 tanggal 21 Juli                       Deed No. 32 dated July 21, 2022 of Notary Fathiah
   2022 dibuat dihadapan Fathiah Helmi, SH, notaris di                 Helmi, SH in Jakarta, approved loss for the year
   Jakarta, disetujui penetapan rugi bersih tahun 2021.                2021.

30. Pendapatan Bunga - Neto                                     30. Interest Income - Net
                                              2023              2022
   Pendapatan bunga                                                                                          Interest income
      Kredit yang diberikan                     595.517           697.686                                           Loans
      Efek-efek yang dibeli                                                                          Securities purchased
        dengan janji dijual kembali             253.598            81.482                     under agreements to resell
      Penempatan pada Bank Indonesia                                                      Placements with Bank Indonesia
        dan bank lain                            65.585            39.323                               and other banks
      Efek-efek                                  29.817            45.405                                       Securities
      Lainnya                                       184                 -                                          Others
                                                944.701           863.896
   Beban bunga                                                                                             Interest expense
     Simpanan dari nasabah                                                                      Deposits from customers
       Deposito berjangka dan                                                                       Time deposits and
           deposito on call                    (364.957)         (316.350)                           on call deposits
       Tabungan                                  (8.833)           (2.483)                                Saving deposits
       Giro                                      (6.023)          (13.504)                             Demand deposits
     Pinjaman yang diterima                     (24.126)          (52.372)                                     Borrowing
     Premi penjaminan ke LPS (Catatan 41)       (19.977)          (22.538)           Guarantee premium to LPS (Note 41)
     Setoran jaminan                             (6.333)          (10.843)                                Margin deposits
     Efek-efek yang dijual dengan                                                                   Securities sold under
       janji dibeli kembali                       (2.514)               -                     repurchased agreements
     Simpanan dari bank lain                        (345)             (81)                     Deposits from other banks
     Efek-efek yang diterbitkan                        -           (4.968)                   Marketable securities issued
     Lainnya                                      (7.695)          (8.757)                                         Others
                                               (440.803)         (431.896)
   Pendapatan bunga - neto                      503.898           432.000                               Interest income - net




                                                          116
Page 297
                                                                     The original financial statements included herein are in
                                                                                                   the Indonesian language.

        PT BANK QNB INDONESIA TBK                                      PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                              for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


31. Pendapatan Provisi dan Komisi - Neto                    31. Fees and Commission Income - Net

                                            2023            2022
    Pendapatan provisi dan komisi                                                         Fees and commission income
       Jasa administrasi                       35.729          30.036                              Administration fees
       Jasa                                    32.076          42.715                                        Services
       Lain-lain                                  221           1.477                                          Others
                                               68.026          74.228
    Beban provisi dan komisi                                                            Fees and commission expenses
      Visa                                     (2.838)         (3.520)                                             Visa
      Transaksi antar bank                     (1.504)         (1.936)                           Interbank transactions
      Lain-lain                                  (678)           (645)                                          Others
    Pendapatan provisi dan komisi - neto       63.006          68.127               Fees and commission income - net


32. Penyisihan Kerugian Penurunan Nilai Aset                32. Provision for Impairment Losses on Financial
    Keuangan                                                    Assets

   Rincian penyisihan kerugian penurunan nilai aset                Details of the allowance for impairment losses on
   keuangan adalah sebagai berikut:                                financial assets are as follows:

                                            2023            2022
    Penyisihan kerugian penurunan                                                       Provision for impairment losses
       nilai aset keuangan                                                                         on financial assets
       Tagihan akseptasi (Catatan 10)             200            (184)                Acceptance receivables (Note 10)
       Efek-efek (Catatan 13)                     189              78                               Securities (Note 13)
       Giro pada bank lain (Catatan 7)             18              16        Current accounts with other banks (Note 7)
       Kredit yang diberikan (Catatan 12)    (136.875)       (614.192)                                 Loans (Note 12)
       Irrevocable LC dan Bank Garansi              -             550              Irrevocable LC dan Bank Guarantee
    Total penyisihan kerugian                                                             Total provision for impairment
       penurunan nilat aset keuangan         (136.468)       (613.732)                      losses on financial assets


33. Beban Karyawan                                          33. Personnel Expenses

                                            2023            2022
    Gaji pokok                                133.345         144.524                                      Basic salaries
    THR/bonus                                  64.115          52.179                                         THR/bonus
    Imbalan kerja (Catatan 25)                 17.837           5.300                      Employment benefits (Note 25)
    Tunjangan cuti, kehadiran dan                                                                 Leave, attendance and
       transportasi                            17.434          19.566                         transportation allowance
    Outsourcing                                16.304          18.296                                        Outsourcing
    Pengobatan                                  9.477           9.318                                             Medical
    Pendidikan dan pelatihan                    8.552           4.520                             Education and training
    Asuransi                                    6.894           7.446                                           Insurance
    Tunjangan jabatan                           2.890           2.634                               Functional allowance
    Pesangon                                    2.348           7.708                                         Severance
    Perekrutan                                  1.561              35                                        Recruitment
    Lain-lain                                   9.059           8.888                                              Others
    Total                                     289.816         280.414                                                Total




                                                      117
Page 298
                                                                                     The original financial statements included herein are in
                                                                                                                   the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                    PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                            for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


34. Beban Umum dan Administrasi                                          34. General and Administrative Expenses

                                                    2023                 2022
   Pemeliharaan dan perbaikan                          78.729               82.369                                 Repair and maintenance
   Penyusutan aset tetap dan
       aset hak guna (Catatan 15)                      64.523               63.809                 Depreciation of fixed assets (Note 15)
   Jasa profesional                                    24.265               17.032                                       Professional fees
   Telepon, telex dan data komunikasi                  11.937                9.391             Telephone, telex and data communication
   Amortisasi aset takberwujud (Catatan 16)            11.674               11.239             Amortization of intangible assets (Note 16)
   Sewa                                                 5.304                4.518                                                 Rental
   Asuransi                                             2.888                3.263                                              Insurance
   Transportasi                                         2.431                2.261                                          Transportation
   Air, gas dan listrik                                 1.676                2.031                               Water, gas and electricity
   Iklan dan promosi                                    1.471                1.682                              Advertising and promotion
   Pajak dan retribusi                                    913                  829                                     Tax and retribution
   Lain-lain                                            3.923                4.093                                                 Others
   Total                                              209.734              202.517                                                        Total


35. Laba Per Saham - Dasar                                               35. Earnings Per Share - Basic

   Laba (rugi) per saham - dasar dihitung dengan                                Earning (loss) per share - basic is computed by
   membagi laba tahun berjalan dengan rata-rata                                 dividing income for the year by the weighted
   tertimbang jumlah saham yang beredar pada tahun                              average number of outstanding shares during the
   yang bersangkutan.                                                           year.

                                                    2023                 2022

   Laba (rugi) tahun berjalan                              69.249           (400.732)                                  Profit (loss) for the year
   Rata-rata tertimbang jumlah saham yang                                                             Weighted average number of outstanding
      beredar untuk perhitungan laba per saham   29.455.542.608       16.508.003.303                        shares for basic profit per share

   Laba (rugi) per saham - dasar                                                                                Profit (loss) per share - basic
      (nilai penuh)                                          2,50               (24,28)                                        (full amount)



36. Aset Keuangan dan Liabilitas Keuangan                                36. Financial Assets and Financial Liabilities

   a.   Klasifikasi aset keuangan dan liabilitas                                a.    Classification of financial               assets       and
        keuangan                                                                      financial liabilities

        Di bawah ini disajikan perbandingan antara nilai                              Below is the comparison of the carrying
        tercatat, seperti dilaporkan dalam laporan posisi                             amounts, as reported in the statement of
        keuangan, dan nilai wajar semua aset                                          financial position, and the fair value of all
        keuangan dan liabilitas keuangan.                                             financial assets and liabilities.

        Pada tabel di bawah ini, instrumen keuangan                                   In the below table, financial instruments have
        telah dikelompokkan berdasarkan klasifikasi                                   been allocated based on their classification.
        masing-masing. Kebijakan akuntansi yang                                       The material accounting policies in Note 2f
        material di Catatan 2f menjelaskan bagaimana                                  describe how the categories of the financial
        kategori aset keuangan dan liabilitas keuangan                                assets and financial liabilities are measured
        tersebut diukur dan bagaimana pendapatan                                      and how income and expenses, including fair
        dan beban, termasuk laba dan rugi atas nilai                                  value gains and losses (changes in fair value of
        wajar (perubahan nilai wajar instrumen                                        financial instruments), are recognized.
        keuangan), diakui.




                                                                118
Page 299
                                                                                                     The original financial statements included herein are in
                                                                                                                                   the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                                   PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                           for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                   unless otherwise stated)


36. Aset Keuangan                 dan    Liabilitas      Keuangan                     36. Financial Assets                  and        Financial        Liabilities
    (lanjutan)                                                                            (continued)

   a.   Klasifikasi aset keuangan dan liabilitas                                                a.    Classification of financial assets                         and
        keuangan (lanjutan)                                                                           financial liabilities (continued)

        Aset keuangan telah dikelompokkan ke dalam                                                    Financial assets classes have been allocated
        aset keuangan yang diukur pada nilai wajar                                                    into assets at fair value through profit or loss,
        melalui laba atau rugi, diukur pada nilai wajar                                               fair value through other comprehensive income
        melalui pendapatan komprehensif lainnya dan                                                   loans and amortized cost. Similarly, financial
        biaya perolehan diamortisasi. Sama halnya                                                     liability has been allocated into financial
        dengan aset keuangan, liabilitas keuangan                                                     liabilities at fair value through profit or loss and
        telah dikelompokkan ke dalam liabilitas                                                       other amortized cost.
        keuangan yang diukur pada nilai wajar melalui
        laba atau rugi dan yang dicatat pada biaya
        perolehan diamortisasi lainnya.

        Nilai wajar yang diungkapkan di bawah ini                                                     The fair values are based on relevant
        adalah berdasarkan informasi relevan yang                                                     information available as at the date of
        tersedia pada tanggal laporan posisi keuangan                                                 statement of financial position and have not
        dan tidak diperbaharui untuk mencerminkan                                                     been updated to reflect changes in market
        perubahan dalam kondisi pasar yang terjadi                                                    condition after the date of statement of financial
        setelah tanggal laporan posisi keuangan.                                                      position.

        Tabel di bawah menyajikan nilai tercatat dan                                                  The table below sets out the carrying amount
        nilai wajar aset dan liabilitas keuangan Bank                                                 and fair values of the Bank’s financial assets
        pada tanggal 31 Desember 2023 dan 2022.                                                       and liabilities as of December 31, 2023 and
                                                                                                      2022.
                                                                               2023

                                                                              Nilai wajar
                                                                               melalui
                                                                             penghasilan
                                                        Nilai wajar         komprehensif
                                                       melalui laba              lain/                   Jumlah
                                  Biaya perolehan          rugi/              Fair value              nilai tercatat/
                                   diamortisasi/        Fair value          through other                  Total
                                     Amortized        through profit       comprehensive                 carrying       Nilai wajar/
                                        cost              or loss              income                    amount         Fair Value

        Aset keuangan                                                                                                                              Financial assets
        Kas                                 24.445                     -                    -                  24.445          24.445                           Cash
        Giro pada Bank                                                                                                                         Current accounts with
            Indonesia                     543.920                      -                    -                543.920          543.920             Bank Indonesia
                                                                                                                                               Current accounts with
        Giro pada bank lain               184.089                      -                                     184.089          184.089                 other banks
        Penempatan pada Bank                                                                                                                        Placements with
            Indonesia dan                                                                                                                     Bank Indonesia and
            bank lain                    1.092.008                  -                       -              1.092.008        1.092.008                 other banks
        Tagihan derivatif                        -                 11                       -                     11               11         Derivative receivables
        Efek-efek yang dibeli                                                                                                                  Securities purchased
            dengan janji dijual                                                                                                                under agreements
            kembali                      2.977.202                     -                -                  2.977.202        3.163.580                     to resell
        Kredit yang diberikan            5.449.285                     -                -                  5.449.285        5.449.285                          Loans
        Efek-efek                          250.030                     -          139.922                    389.952          390.687                      Securities
        Aset lain-lain *)                  247.977                     -                -                    247.977          247.977                Other assets *)

                                        10.768.956                 11             139.922                 10.908.889       11.096.002


        Liabilitas keuangan                                                                                                                      Financial liabilities
        Liabilitas segera                   12.555                  -                       -                 12.555           12.555 Liabilities payable on demand
        Simpanan dari nasabah            6.339.203                  -                       -              6.339.203        6.339.203      Deposits from customers
        Simpanan dari bank lain              1.832                  -                       -                  1.832            1.832    Deposits from other banks
        Liabilitas derivatif                     -              1.838                       -                  1.838            1.838             Derivative payables
        Efek-efek yang dijual                                                                                                                          Securities sold
            dengan janji dibeli                                                                                                                    under agreements
            kembali                       385.051                      -                    -                385.051          390.687                   to repurchase
        Beban masih harus dibayar                                                                                                                  Accruals and other
            dan liabilitas lain-lain      232.552                      -                    -                232.552          232.552                      liabilities

                                         6.971.193              1.838                       -              6.973.031        6.978.667




                                                                           119
Page 300
                                                                                                     The original financial statements included herein are in
                                                                                                                                   the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                                   PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                           for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                   unless otherwise stated)


36. Aset Keuangan                 dan    Liabilitas      Keuangan                     36. Financial Assets                    and        Financial        Liabilities
    (lanjutan)                                                                            (continued)

   a.   Klasifikasi aset keuangan dan liabilitas                                                a.    Classification of financial assets                            and
        keuangan (lanjutan)                                                                           financial liabilities (continued)

        Tabel di bawah menyajikan nilai tercatat dan                                                  The table below sets out the carrying amount
        nilai wajar aset dan liabilitas keuangan Bank                                                 and fair values of the Bank’s financial assets
        pada tanggal 31 Desember 2023 dan 2022.                                                       and liabilities as of December 31, 2023 and
        (lanjutan)                                                                                    2022. (continued)
                                                                               2022

                                                                              Nilai wajar
                                                                               melalui
                                                                             penghasilan
                                                        Nilai wajar         komprehensif
                                                       melalui laba              lain/                   Jumlah
                                  Biaya perolehan          rugi/              Fair value              nilai tercatat/
                                   diamortisasi/        Fair value          through other                  Total
                                     Amortized        through profit       comprehensive                 carrying         Nilai wajar/
                                        cost              or loss              income                    amount           Fair Value

        Aset keuangan                                                                                                                                 Financial assets
        Kas                                 33.354                     -                    -                  33.354            33.354                            Cash
        Giro pada Bank                                                                                                                            Current accounts with
            Indonesia                     919.797                      -                    -                919.797            919.797              Bank Indonesia
                                                                                                                                                  Current accounts with
        Giro pada bank lain               148.347                      -                    -                148.347            148.347                  other banks
        Penempatan pada Bank                                                                                                                           Placements with
            Indonesia dan                                                                                                                        Bank Indonesia and
            bank lain                    1.032.898                 -                        -               1.032.898         1.032.898                  other banks
        Tagihan derivatif                                        108                        -                     108               108          Derivative receivables
        Tagihan akseptasi                 188.295                  -                        -                 188.295           188.295         Acceptance receivables
        Efek-efek yang dibeli                                                                                                                     Securities purchased
            dengan janji dijual                                                                                                                   under agreements
            kembali                      3.072.222                     -                -                   3.072.222         3.234.360                      to resell
        Kredit yang diberikan            9.256.123                     -                -                   9.256.123         9.256.123                           Loans
        Efek-efek                          374.148                     -          139.839                     513.987           521.775                       Securities
        Aset lain-lain *)                  256.787                     -                -                     256.787           256.787                 Other assets *)

                                        15.281.971               108              139.839                  15.421.918        15.591.844


        Liabilitas keuangan                                                                                                                        Financial liabilities
        Liabilitas segera                   24.028                  -                       -                  24.028            24.028 Liabilities payable on demand
        Simpanan dari nasabah           10.604.624                  -                       -              10.604.624        10.604.624      Deposits from customers
        Simpanan dari bank lain              7.302                  -                       -                   7.302             7.302    Deposits from other banks
        Liabilitas derivatif                     -                 90                       -                      90                90             Derivative payables
        Liabilitas akseptasi                26.336                  -                       -                  26.336            26.336           Acceptance payables
        Pinjaman diterima                1.000.000                  -                       -               1.000.000         1.000.000                        Borrowing
        Beban masih harus dibayar                                                                                                                    Accruals and other
            dan liabilitas lain-lain      307.767                      -                    -                307.767            307.767                      liabilities

                                        11.970.057                 90                       -              11.970.147        11.970.147



        *)    Aset lain-lain terdiri dari tagihan atas transaksi agunan                               *)      Other assets consist of receivables from foreclosed
              yang diambil alih, piutang bunga, setoran jaminan, dan                                          assets transactions, interest receivables, security
              piutang lain-lain                                                                               deposits, and other receivable.




                                                                           120
Page 301
                                                                        The original financial statements included herein are in
                                                                                                      the Indonesian language.

        PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


36. Aset Keuangan       dan    Liabilitas   Keuangan            36. Financial Assets          and    Financial      Liabilities
    (lanjutan)                                                      (continued)

   b.   Nilai wajar instrumen keuangan                             b.    Fair values of financial instruments

        Nilai wajar aset keuangan dan liabilitas                         The fair values of financial assets and financial
        keuangan yang diperdagangkan di pasar aktif                      liabilities that are traded in active markets are
        didasarkan pada kuotasian harga pasar atau                       based on quoted market prices or dealer price
        harga dealer. Untuk semua instrumen                              quotations. For all other financial instruments,
        keuangan lainnya, Bank menentukan nilai wajar                    the Bank determines fair values using other
        dengan menggunakan teknik penilaian lainnya.                     valuation techniques.

        Untuk instrumen keuangan yang jarang                             For financial instruments that trade infrequently
        diperdagangkan      dan     sedikit   memiliki                   and have little price transparency, fair values is
        transparansi harga, nilai wajar menjadi kurang                   less objective, and requires varying degrees of
        objektif, dan membutuhkan berbagai tingkat                       judgement        depending       on       liquidity,
        pertimbangan tergantung pada likuiditas,                         concentration, uncertainty of market factors,
        konsentrasi, ketidakpastian faktor pasar,                        pricing assumptions and other risks affecting
        asumsi harga dan risiko lainnya yang                             the specific instrument.
        mempengaruhi instrumen tertentu.

        Model Penilaian                                                  Valuation Models

        Bank   mengukur      nilai  wajar    dengan                      The Bank measures fair values using the
        menggunakan hirarki dari metode berikut:                         following hierarchy of methods:

        •   Tingkat 1: input yang berasal dari harga                     •     Level 1: inputs that are quoted prices
            kuotasian (tanpa penyesuaian) di pasar                             (unadjusted) in active markets for identical
            aktif untuk instrumen yang identik yang                            instruments that the Bank can access at
            dapat diakses Bank pada tanggal                                    the measurement date.
            pengukuran.
        •   Tingkat 2: input selain harga kuotasian                      •     Level 2: inputs other than quoted prices
            yang termasuk dalam level 1 yang dapat                             included within level 1 that are observable
            diobservasi, baik secara langsung atau                             either directly or indirectly. This category
            tidak langsung. Dalam kategori ini                                 includes instruments valued using: quoted
            termasuk instrumen yang dinilai dengan                             market prices in active markets for similar
            menggunakan: harga kuotasian untuk                                 instruments; quoted prices for identical or
            instrumen yang serupa di pasar aktif; harga                        similar instruments in markets that are not
            kuotasian untuk instrumen yang identik                             active; or other valuation techniques in
            atau yang serupa di pasar yang tidak aktif;                        which all significant inputs are directly or
            atau teknik penilaian lainnya dimana                               indirectly observable from market data.
            seluruh input signifikan dapat diobservasi
            secara langsung maupun tidak langsung
            dari data pasar.
        •   Tingkat 3: input yang tidak dapat                            •     Level 3: inputs that are unobservable. This
            diobservasi. Dalam kategori ini termasuk                           category includes all instruments for which
            semua instrumen dimana teknik penilaian                            the valuation technique includes inputs not
            menggunakan input yang tidak dapat                                 based on observable data and the
            diobservasi dan input yang tidak dapat                             unobservable inputs have a significant
            diobservasi ini memberikan dampak                                  effect on the instrument’s valuation. This
            signifikan terhadap penilaian instrumen.                           category includes instruments that are
            Termasuk dalam kategori ini adalah                                 valued based on quoted prices for similar
            instrumen yang dinilai berdasarkan harga                           instruments      for    which     significant
            kuotasian untuk instrumen serupa yang                              unobservable adjustments or assumptions
            memerlukan penyesuaian atau asumsi                                 are required to reflect differences between
            signifikan yang tidak dapat diobservasi                            the instruments.
            untuk mencerminkan perbedaan diantara
            instrumen tersebut.




                                                          121
Page 302
                                                                          The original financial statements included herein are in
                                                                                                        the Indonesian language.

        PT BANK QNB INDONESIA TBK                                         PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                 for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


36. Aset Keuangan        dan    Liabilitas   Keuangan             36. Financial Assets          and     Financial     Liabilities
    (lanjutan)                                                        (continued)

   b.   Nilai wajar instrumen keuangan (lanjutan)                    b.    Fair values         of     financial    instruments
                                                                           (continued)

        Model Penilaian (lanjutan)                                         Valuation Models (continued)

        Teknik penilaian mencakup model nilai kini                         Valuation techniques include net present value
        bersih dan arus kas yang didiskontokan,                            and discounted cash flow models, comparison
        perbandingan dengan instrumen sejenis yang                         with similar instruments for which market
        harga pasarnya tersedia, serta dapat                               observable prices exist and other valuation
        diobservasi, serta model penilaian lainnya.                        models. Assumptions and inputs used in
        Asumsi dan input yang digunakan dalam teknik                       valuation techniques include risk-free and
        penilaian meliputi suku bunga bebas risiko (risk-                  benchmark interest rates and credit spreads
        free) dan suku bunga acuan serta credit                            used in estimating discount rates, bond prices
        spreads yang digunakan untuk mengestimasi                          and foreign currency exchange rates.
        tingkat diskonto, harga obligasi dan nilai tukar
        mata uang asing.

        Tujuan dari teknik penilaian adalah untuk                          The objective of valuation techniques is to
        pengukuran nilai wajar yang mencerminkan                           arrive at a fair value measurement that reflects
        harga yang akan diterima untuk menjual aset                        the price that would be received to sell the asset
        atau harga yang akan dibayar untuk                                 or paid to transfer the liability in an orderly
        mengalihkan suatu liabilitas dalam transaksi                       transaction between market participants at the
        teratur (orderly transactions) antara pelaku                       measurement date.
        pasar (market participants) pada tanggal
        pengukuran.

        Bank menggunakan model penilaian yang                              The Bank uses widely recognised valuation
        diakui secara luas untuk menentukan nilai wajar                    models for determining the fair values of
        atas instrumen keuangan yang umum dan yang                         common        and    more      simple    financial
        lebih sederhana, seperti swap nilai tukar yang                     instruments, such as currency swaps that use
        hanya menggunakan data pasar yang dapat                            only observable market data and require little
        diobservasi     dan    membutuhkan       sedikit                   management judgement and estimation.
        pertimbangan dan estimasi manajemen. Harga                         Observable prices or model inputs are usually
        yang dapat diobservasi atau input model                            available in the market for listed debt securities
        biasanya tersedia di pasar untuk efek-efek                         and simple over-the-counter (OTC) derivatives
        utang yang tercatat di bursa dan derivatif over-                   such as currency swaps. Availability of
        the-counter (OTC) seperti swap nilai tukar.                        observable market prices and model inputs
        Ketersediaan harga pasar yang dapat                                reduces the needs for management judgement
        diobservasi dan input model mengurangi                             and estimation and also reduces the
        kebutuhan      pertimbangan    dan     estimasi                    uncertainty associated with determining fair
        manajemen        dan      juga    mengurangi                       values. The availability of observable market
        ketidakpastian terkait penentuan nilai wajar.                      prices and inputs varies depending on the
        Ketersediaan harga pasar yang dapat                                products and markets and is prone to changes
        diobservasi dan input bervariasi bergantung                        based on specific events and general
        pada produk dan pasar dan cenderung berubah                        conditions in the financial markets.
        berdasarkan kejadian tertentu dan kondisi
        umum di pasar keuangan.

        Pertimbangan dan estimasi manajemen                                Management consideration and estimation are
        biasanya memerlukan pemilihan model yang                           usually required for selection of the appropriate
        sesuai untuk digunakan, penentuan arus kas                         valuation model to be used, determination of
        masa depan yang diharapkan pada instrumen                          expected future cash flows on the financial
        keuangan yang dinilai, penentuan probabilitas                      instrument being valued, determination of the
        kegagalan pihak lawan dan pembayaran                               probability of counterparty default and
        dimuka dan pemilihan tingkat diskonto yang                         prepayments and selection of appropriate
        tepat.                                                             discount rates.



                                                            122
Page 303
                                                                                             The original financial statements included herein are in
                                                                                                                           the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                            PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                      As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                    for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                            unless otherwise stated)


36. Aset Keuangan                 dan     Liabilitas      Keuangan                36. Financial Assets                and     Financial      Liabilities
    (lanjutan)                                                                        (continued)

   b.   Nilai wajar instrumen keuangan (lanjutan)                                       b.     Fair values        of        financial     instruments
                                                                                               (continued)

        Instrumen keuangan yang diukur pada nilai                                              Financial instruments measured at fair
        wajar                                                                                  values

        Tabel di bawah ini menunjukkan instrumen                                               The table below show the financial instruments
        keuangan yang diukur pada nilai wajar yang                                             measured at fair value grouped according to the
        dikelompokkan berdasarkan hirarki nilai wajar.                                         fair value hierarchy.

                                                                         2023
                                                                             Nilai wajar/Fair value

                                        Nilai tercatat/      Tingkat/              Tingkat/            Tingkat/
                                        Carrying value       Level 1               Level 2             Level 3

        Aset keuangan                                                                                                                  Financial assets
           Tagihan derivatif                         11                  -                     11                 -             Derivative receivables
           Efek-efek - nilai wajar                                                                                               Securities - fair value
              melalui penghasilan                                                                                                    through other
              komprehensif lain                 139.922          139.922                        -                 -          comprehensive income

                                                139.933          139.922                       11                 -

        Liabilitas keuangan                                                                                                         Financial liabilities
           Liabilitas derivatif                   1.838                  -                1.838                   -                Derivative payables
                                                  1.838                  -                1.838                   -


                                                                         2022
                                                                             Nilai wajar/Fair value

                                        Nilai tercatat/      Tingkat/              Tingkat/            Tingkat/
                                        Carrying value       Level 1               Level 2             Level 3

        Aset keuangan                                                                                                                  Financial assets
           Tagihan derivatif                        108                  -                    108                 -             Derivative receivables
           Efek-efek - nilai wajar                                                                                               Securities - fair value
              melalui penghasilan                                                                                                    through other
              komprehensif lain                 139.839          139.839                        -                 -          comprehensive income
           Efek-efek yang dibeli                                                                                                 Securities purchased
              dengan janji dijual                                                                                               under agreements
              kembali                         3.072.222        3.072.222                        -                 -                         to resell

                                              3.212.169        3.212.061                      108                 -

        Liabilitas keuangan                                                                                                         Financial liabilities
           Liabilitas derivatif                      90                  -                     90                 -                Derivative payables
                                                     90                  -                     90                 -



        Nilai wajar atas instrumen derivatif yang dinilai                                      The fair values of derivatives instrument valued
        menggunakan teknik         penilaian    dengan                                         by valuation techniques using components
        menggunakan komponen yang dapat diamati di                                             which can be observed in the market, primarily
        pasar terutama adalah swap mata uang dan                                               currency swaps and currency exchange
        kontrak pertukaran mata uang. Teknik penilaian                                         contracts. Most widely used valuation
        yang paling banyak digunakan meliputi model                                            techniques include forward and swap valuation
        penilaian     forward    dan     swap      yang                                        models which use the present value calculation.
        menggunakan perhitungan nilai kini.




                                                                        123
Page 304
                                                                                          The original financial statements included herein are in
                                                                                                                        the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                         PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                   As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                 for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                         unless otherwise stated)


36. Aset Keuangan            dan       Liabilitas      Keuangan                36. Financial Assets                and     Financial       Liabilities
    (lanjutan)                                                                     (continued)

   b.   Nilai wajar instrumen keuangan (lanjutan)                                    b.    Fair values         of        financial     instruments
                                                                                           (continued)

        Instrumen keuangan yang diukur pada nilai                                          Financial instruments measured at fair
        wajar (lanjutan)                                                                   values (continued)

        Model tersebut menggabungkan berbagai                                              The models incorporate various components
        komponen yang meliputi kualitas kredit dari                                        which include the credit quality of the
        counterparty, nilai spot dan kontrak berjangka                                     counterparty, spot value and future contracts
        serta kurva tingkat suku bunga.                                                    and interest rate curve.

        Di tahun 2022, nilai wajar dari efek-efek                                          In 2022, fair value of available for sale securities
        tersedia untuk dijual diestimasi dengan                                            are estimated using quoted prices for identical
        menggunakan harga kuotasian untuk instrumen                                        or similar instruments in markets that are not
        yang identik atau yang serupa di pasar yang                                        active.
        tidak aktif.

        Instrumen keuangan yang tidak diukur pada                                          Financial instruments not measured at fair
        nilai wajar                                                                        values

        Tabel di bawah ini menunjukkan instrumen                                           The table below show the financial instruments
        keuangan yang tidak diukur pada nilai wajar                                        not measured at fair value grouped according
        yang dikelompokkan berdasarkan hirarki nilai                                       to the fair value hierarchy.
        wajar.

                                                                      2023
                                                                          Nilai wajar/Fair value

                                     Nilai tercatat/      Tingkat/              Tingkat/            Tingkat/
                                     Carrying value       Level 1               Level 2             Level 3

        Aset keuangan                                                                                                               Financial assets
        Kredit yang diberikan              5.449.285                  -                      -         5.449.285                                 Loans
         Efek-efek yang dibeli                                                                                                   Securities purchased
            dengan janji dijual                                                                                                  under agreements
            kembali                        2.977.202        3.163.580                        -                 -                            to resell
        Efek-efek - Biaya                                                                                                                    Securities
            perolehan diamortisasi           250.030          250.765                        -                 -                  Amortized cost –

                                           8.676.517        3.414.345                        -         5.449.285

        Liabilitas keuangan                                                                                                      Financial liabilities
        Simpanan dari nasabah              6.339.203                  -            6.339.203                   -             Deposits from customers
        Simpanan dari bank lain                1.832                  -                1.832                   -            Deposits from other banks
        Efek-efek yang dijual                                                                                                           Securities sold
           dengan janji dibeli                                                                                                  under repurchased
           kembali                           385.051          390.687                        -                 -                        agreements

                                           6.341.035          390.687              6.341.035                   -


                                                                      2022
                                                                          Nilai wajar/Fair value

                                     Nilai tercatat/      Tingkat/              Tingkat/            Tingkat/
                                     Carrying value       Level 1               Level 2             Level 3

        Aset keuangan                                                                                                               Financial assets
        Kredit yang diberikan              9.256.123                  -                      -         9.256.123                               Loans
        Efek-efek - Biaya                                                                                                                  Securities
           perolehan diamortisasi            374.343          381.936                        -                 -                   Amortized cost -

                                           9.630.466          381.936                        -         9.256.123




                                                                     124
Page 305
                                                                                       The original financial statements included herein are in
                                                                                                                     the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                      PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                              for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                      unless otherwise stated)


36. Aset Keuangan           dan     Liabilitas      Keuangan                36. Financial Assets                 and     Financial      Liabilities
    (lanjutan)                                                                  (continued)

   b.   Nilai wajar instrumen keuangan (lanjutan)                                 b.    Fair values          of        financial     instruments
                                                                                        (continued)

        Instrumen keuangan yang tidak diukur pada                                       Financial instruments not measured at fair
        nilai wajar (lanjutan)                                                          values (continued)

                                                                   2023
                                                                       Nilai wajar/Fair value

                                  Nilai tercatat/      Tingkat/              Tingkat/             Tingkat/
                                  Carrying value       Level 1               Level 2              Level 3

        Liabilitas keuangan                                                                                                    Financial liabilities
        Simpanan dari nasabah         10.604.624                   -           10.604.624                    -             Deposits from customers
        Pinjaman diterima              1.000.000                   -            1.000.000                    -                            Borrowing
        Simpanan dari bank lain            7.302                   -                7.302                    -            Deposits from other banks

                                      11.611.926                   -           11.611.926                    -



        Sebagian besar dari instrumen keuangan yang                                     Majority of the financial instruments not
        tidak diukur pada nilai wajar, diukur pada biaya                                measured at fair value are measured at
        perolehan diamortisasi. Rincian di bawah ini                                    amortized cost. The following lists those
        menyajikan daftar instrumen keuangan yang                                       financial instruments for which their carrying
        nilai tercatatnya mendekati nilai wajarnya,                                     amount are reasonable approximation of fair
        contohnya, instrumen keuangan jangka pendek                                     value because, for example, they are short term
        atau yang ditinjau ulang menggunakan harga                                      in nature or re-price to current market rates
        pasar secara berkala.                                                           frequently.

        Aset Keuangan:                                                                  Financial Assets:

        -    Kas                                                                        -       Cash
        -    Giro pada Bank Indonesia                                                   -       Current accounts with Bank Indonesia
        -    Giro pada bank lain                                                        -       Current accounts with other banks
        -    Penempatan pada Bank Indonesia dan                                         -       Placements with Bank Indonesia and other
             bank lain                                                                          banks
        -    Tagihan akseptasi                                                          -       Acceptance receivables
        -    Efek-efek yang dibeli dengan janji dijual                                  -       Securities purchased under agreements to
             kembali                                                                            resell
        -    Aset lain-lain                                                             -       Other assets

        Liabilitas Keuangan:                                                            Financial Liabilities:

        -   Liabilitas segera                                                           -       Liabilities payable on demand
        -   Liabilitas akseptasi                                                        -       Acceptance payables
        -   Efek-efek yang dijual dengan janji dibeli                                   -       Securities sell under agreements                   to
            kembali                                                                             purchased
        -   Beban masih harus dibayar dan liabilitas                                    -       Accruals and other liabilities
            lain-lain

        Nilai wajar dari kredit yang diberikan dengan                                   The carrying amounts of variable loans and
        suku bunga mengambang dan nilai tercatat                                        short-term fixed rate loans are the reasonable
        atas kredit jangka pendek dengan suku bunga                                     approximation of their fair values. The carrying
        tetap adalah perkiraan yang layak atas nilai                                    amount of long term fixed rate loans shows the
        wajar. Nilai wajar dari kredit jangka panjang                                   discounted estimated future cash flows. The
        yang diberikan dengan suku bunga tetap                                          cash flows estimation is discounted at the
        menunjukkan nilai diskon dari perkiraan arus                                    market interest rate to determine fair value.
        kas masa depan yang diharapkan akan diterima
        oleh Bank. Perkiraan arus kas ini didiskontokan
        dengan menggunakan suku bunga pasar untuk
        menentukan nilai wajar.

                                                                  125
Page 306
                                                                                                   The original financial statements included herein are in
                                                                                                                                 the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                                 PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                           As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                         for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                 unless otherwise stated)


36. Aset Keuangan                 dan       Liabilitas    Keuangan                     36. Financial Assets                  and       Financial       Liabilities
    (lanjutan)                                                                             (continued)

    b.     Nilai wajar instrumen keuangan (lanjutan)                                         b.        Fair values          of      financial      instruments
                                                                                                       (continued)

           Nilai wajar efek-efek yang diklasifikasikan                                                 The carrying amount securities that classified
           sebagai pinjaman yang diberikan dan piutang                                                 as loans and receivables and held-to-maturity
           dan dimiliki hingga jatuh tempo yang diberikan                                              shows the discounted estimated future cash
           dengan suku bunga tetap menunjukkan nilai                                                   flows. The cash flows estimation is discounted
           diskon dari perkiraan arus kas masa depan                                                   at the market interest rate to determine fair
           yang diharapkan akan diterima oleh Bank.                                                    value.
           Perkiraan arus kas ini didiskontokan dengan
           menggunakan suku bunga pasar untuk
           menentukan nilai wajar.

           Nilai wajar simpanan dari nasabah dan                                                       The fair value of deposits from customers and
           simpanan dari bank lain sama dengan nilai                                                   deposits from other banks are same with the
           tercatatnya karena sifatnya dapat ditarik                                                   carrying amount because they are payable on
           sewaktu-waktu.                                                                              demand in nature.

           Perhitungan nilai wajar dilakukan hanya untuk                                               The fair values calculated are for disclosure
           kepentingan     pengungkapan      dan    tidak                                              purposes only and do not have any impact on
           berdampak pada pelaporan posisi atau kinerja                                                the Bank’s reported financial performance or
           keuangan Bank. Nilai wajar yang dihitung oleh                                               position. The fair values calculated by the Bank
           Bank mungkin berbeda dengan jumlah aktual                                                   may be different from the actual amount that will
           yang akan diterima/dibayar pada saat                                                        be received/paid on the settlement or maturity
           penyelesaian atau jatuh tempo instrumen                                                     of the financial instrument. As certain
           keuangan.    Mengingat      kategori tertentu                                               categories of financial instruments are not
           instrumen      keuangan        yang      tidak                                              traded, there is management consideration
           diperdagangkan, maka terdapat pertimbangan                                                  involved in calculating the fair values.
           manajemen dalam perhitungan nilai wajar.

37. Kualitas Aset Produktif                                                            37. Quality of Productive Assets

    Tabel di bawah ini menunjukkan tingkat kolektibilitas                                    The tables below present the collectability grading
    aset produktif Bank yang disajikan pada nilai                                            of productive assets of the Bank at their carrying
    tercatatnya:                                                                             amounts:
                                                                               2023

                                                    Dalam
                                                  perhatian
                                                   khusus/
                                  Lancar/          Special        Kurang lancar/      Diragukan/           Macet/         Jumlah/
                                  Current          mention        Substandard          Doubtful            Loss            Total

    Giro pada Bank                                                                                                                                 Current accounts
     Indonesia                       543.920                  -                -                   -                -        543.920         with Bank Indonesia
                                                                                                                                              Current accounts with
   Giro pada bank lain               184.089                  -                -                   -                -        184.089                  other banks
   Penempatan pada Bank                                                                                                                             Placements with
     Indonesia dan                                                                                                                           Bank Indonesia and
     bank lain                     1.092.008                  -                -                   -                -      1.092.008                  other banks
   Tagihan Derivatif                      11                  -                -                   -                -             11         Derivative receivables
   Efek-efek yang dibeli                                                                                                                 Securities purchased under
     dengan janji jual kembali     2.977.202                -                  -                   -                -      2.977.202        agreements to resell
   Kredit yang diberikan - neto    4.994.890          448.894                  -                   -            5.501      5.449.285                     Loans - net
   Efek-efek                         389.952                -                  -                   -                -        389.952                      Securities
   Aset lain-lain *)                 224.371           23.606                  -                   -                -        247.977                 Other assets *)

   Total                          10.406.443          472.500                  -                   -            5.501     10.884.444                          Total



    *)   Aset lain-lain terdiri dari tagihan atas transaksi agunan yang                       *)       Other assets consist of receivables from foreclosed assets
         diambil alih, piutang bunga, setoran jaminan, dan piutang lain-                               transactions, interest receivables, security deposits, and
         lain                                                                                          other receivables.




                                                                            126
Page 307
                                                                                                       The original financial statements included herein are in
                                                                                                                                     the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                                   PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                                           for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                            (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                                   unless otherwise stated)


37. Kualitas Aset Produktif (lanjutan)                                                    37. Quality of Productive Assets (continued)

    Tabel di bawah ini menunjukkan tingkat kolektibilitas                                       The tables below present the collectability grading
    aset produktif Bank yang disajikan pada nilai                                               of productive assets of the Bank at their carrying
    tercatatnya: (lanjutan)                                                                     amounts: (continued)
                                                                                  2022

                                                    Dalam
                                                  perhatian
                                                   khusus/
                                 Lancar/           Special        Kurang lancar/         Diragukan/           Macet/         Jumlah/
                                 Current           mention        Substandard             Doubtful            Loss            Total

    Giro pada Bank                                                                                                                                   Current accounts
     Indonesia                       919.797                  -                -                      -                 -       919.797        with Bank Indonesia
                                                                                                                                                Current accounts with
    Giro pada bank lain              148.347                  -                -                      -                 -       148.347                 other banks
    Penempatan pada bank                                                                                                                              Placements with
     Indonesia dan                                                                                                                             Bank Indonesia and
     bank lain                     1.032.898                  -                -                      -                 -     1.032.898                 other banks
    Tagihan derivatif                    108                  -                -                      -                 -           108         Derivative receivables
    Tagihan akseptasi                188.295                  -                -                      -                 -       188.295       Acceptance receivables
    Efek-efek yang dibeli                                                                                                                  Securities purchased under
     dengan janji jual kembali     3.072.222                -                 -                    -                   -      3.072.222        agreements to resell
    Kredit yang diberikan          8.851.049          396.997                 -                1.443               6.634      9.256.123                         Loans
    Efek-efek                        513.987                -                 -                    -                   -        513.987                      Securities
    Aset lain-lain *)                253.251            3.511                25                    -                   -        256.787                Other assets *)

    Total                         14.979.954          400.508                25                1.443               6.634     15.388.564                          Total



    *)   Aset lain-lain terdiri dari tagihan atas transaksi agunan yang                          *)       Other assets consist of receivables from foreclosed assets
         diambil alih, piutang bunga, setoran jaminan, dan piutang lain-                                  transactions, interest receivables, security deposits, and
         lain                                                                                             other receivables.

38. Sifat Hubungan dan Transaksi dengan Pihak                                             38. Nature of Relationship and Transactions With
    Berelasi                                                                                  Related Parties

    Rincian sifat hubungan dan jenis transaksi yang                                             The details of the relationship and type of significant
    signifikan dengan pihak berelasi pada tanggal                                               transactions     with related parties as of
    31 Desember 2023 dan 2022 adalah sebagai                                                    December 31, 2023 and 2022, are as follows:
    berikut:

         Pihak berelasi/                       Sifat dari hubungan/                                                     Sifat dari transaksi/
         Related parties                       Nature of relationship                                                  Nature of transaction

    Dewan Komisaris,
    Direksi dan karyawan
    kunci/Board of                                                                             Giro, tabungan, deposito berjangka, pinjaman karyawan,
    Commissioners,                                                                             pendapatan bunga dan beban bunga/Demand deposits,
    Directors and Bank’s               Manajemen Bank/                                         saving deposits, time deposits, employee loan, interest
    key personnel                      The Bank’s Management                                   income and interest expenses

                                       Perusahaan afiliasi/                                    Giro/
    Ooredoo Asia                       Affiliated company                                      Demand deposits

                                                                                               Simpanan dari bank lain, Standby Letter of Credit, dan
    Qatar National Bank                Perusahaan induk/                                       Bank Guarantee/Deposits from other banks, Stand
    (Q.P.S.C.)                         Parent company                                          Letter of Credit and Bank Guarantee

                                       Entitas yang dikendalikan oleh
                                       pemerintah yang sama sebagai
                                       pemegang saham akhir, State of
                                       Qatar/Entity controlled by the same
                                       government as the ultimate                              Giro dan deposito berjangka/
    PT Indosat Tbk                     shareholder, State of Qatar                             Demand deposits and time deposits




                                                                            127
Page 308
                                                                                        The original financial statements included herein are in
                                                                                                                      the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                       PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                 As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                               for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                       unless otherwise stated)


38. Sifat Hubungan dan Transaksi dengan Pihak                               38. Nature of Relationship and Transactions With
    Berelasi (lanjutan)                                                         Related Parties (continued)

   Transaksi dengan personil manajemen kunci                                       Transactions with key management personnel

   Personil manajemen kunci adalah pihak yang                                      Key management personnel are parties who have
   memiliki kewenangan dan tanggung jawab untuk                                    authority and responsibility to control the Bank’s
   mengendalikan aktivitas Bank baik secara langsung                               activities, directly or indirectly.
   maupun tidak langsung.

   Personil manajemen kunci termasuk Dewan                                         Key management personnel include Board of
   Komisaris dan Direksi yang memiliki kewenangan                                  Commissioners and Directors that have significant
   dan tanggung jawab yang signifikan untuk                                        authority and responsibility for planning, directing
   merencanakan, mengarahkan dan mengendalikan                                     and controlling the Bank’s activities.
   kegiatan Bank.

   Jumlah gaji, tunjangan dan bonus Dewan Komisaris                                Total of salaries, allowances and bonuses of the
   dan Direksi selama tahun-tahun yang berakhir pada                               Boards of Commissioners and Directors for the
   tanggal 31 Desember 2023 dan 2022 adalah                                        years ended December 31, 2023 and 2022, are as
   sebagai berikut:                                                                follows:

                                                       2023                 2022
   Dewan Komisaris                                           2.579              3.051                                   Board of Commissioners
   Direksi                                                  25.871             30.232                                                Directors
   Total                                                    28.450             33.283                                                         Total



   Jumlah saldo dan transaksi yang signifikan dengan                               The total of significant balance and transactions with
   pihak-pihak berelasi pada tanggal dan untuk tahun                               related parties as of and for the year ended
   yang berakhir tanggal 31 Desember 2023 dan 2022                                 December 31, 2023 and 2022, are as follows:
   adalah sebagai berikut:

                                                    2023                                     2022

                                    Jumlah/             Persentase/         Jumlah/              Persentase/
                                    Amount             Percentage *)        Amount              Percentage *)

   Giro pada bank lain                        282                0,00%                 338              0,00% Current accounts with other banks
   Kredit yang diberikan                    1.976                0,02%             493.666              2,95%                               Loans
   Tagihan atas transaksi                                                                                          Receivables from foreclosed
    agunan yang diambil alih               55.944                0,48%             155.505              0,93%              asset transactions
   Simpanan dari nasabah:                                                                                             Deposits from customers:
    Giro                                   17.039                0,24%              17.432              0,14%               Demand deposits
    Tabungan                                  342                0,00%                 384              0,00%                 Saving deposits
    Deposito berjangka                     62.764                0,89%              79.595              0,66%                    Time deposits
   Simpanan dari bank lain                    276                0,00%                  22              0,00%         Deposits from other banks
   Pendapatan bunga                         9.150                0,97%              50.098              5,80%                    Interest income
   Beban bunga                              3.573                0,81%               4.080              0,94%                 Interest expenses

   *)   Persentase terhadap    jumlah   aset/liabilitas/pendapatan/                *)    Percentage     of      total     assets/liabilities/respective
        beban terkait                                                                    income/expense

   Kompensasi personil manajemen kunci untuk tahun                                 The compensation for key management personnel
   berjalan terdiri dari:                                                          for the year comprised of:

                                                       2023                 2022
   Imbalan kerja jangka pendek                              49.479             36.405                           Short terms employee benefits




                                                                      128
Page 309
                                                                                        The original financial statements included herein are in
                                                                                                                      the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


39. Komitmen dan Kontinjensi                                                  39. Commitments and Contingencies

                                                          2023                2022
    KOMITMEN                                                                                                                   COMMITMENTS
    Liabilitas komitmen                                                                                                    Committed liabilities
       L/C yang tidak dapat dibatalkan                        (141.420)         (122.414)                          Irrevocable letters of credit
    Total liabilitas komitmen                                 (141.420)         (122.414)                           Total committed liabilities
    KONTINJENSI                                                                                                             CONTINGENCIES
    Tagihan kontinjensi                                                                                                 Contingent receivables
    Bank garansi yang diterima                                218.883            562.597                              Bank guarantees received
    Pendapatan bunga dalam                                                                                                   Interest income on
       penyelesaian                                           107.642             66.180                                non-performing loans
    Total tagihan kontinjensi                                 326.525            628.777                            Total contingent receivables
    Liabilitas kontinjensi                                                                                                 Contingent liabilities
    Bank garansi yang diterbitkan                               (3.562)            (6.562)                              Bank guarantees issued
    Total aset kontinjensi - neto                             322.963            622.215                            Total contingent assets - net
    Total aset komitmen dan
       kontinjensi - neto                                     181.543            499.801         Total committed and contingent assets - net


    Jumlah fasilitas kredit (uncommitted dan committed)                              The Bank’s unused loan facilities (uncommitted and
    Bank kepada nasabah yang belum digunakan pada                                    committed) granted to customers as of December
    tanggal 31 Desember 2023 dan 2022 adalah                                         31, 2023 and 2022, are amounted to Rp3,901,406
    masing-masing       sebesar    Rp3.901.406     dan                               and Rp3,001,242, respectively.
    Rp3.001.242.

    Pada tanggal 31 Desember 2023 jangka waktu                                       As of December 31, 2023, the term of Letters of
    untuk Letters of Credit (L/C) adalah sekitar 1 bulan                             Credit (L/C) were approximately 1 month to 3 month,
    sampai dengan 3 bulan, sedangkan jangka waktu                                    while the term of bank guarantees issued ranged
    untuk bank garansi yang diterbitkan masing-masing                                between 3 month to 3 years.
    berkisar antara 3 bulan sampai dengan 3 tahun dan
    1 bulan sampai dengan 1 tahun.

40. Aset dan Liabilitas dalam Valuta Asing                                    40. Assets and Liabilities Denominated in Foreign
                                                                                  Currencies

                                                       2023                                    2022

                                      Valuta asing                            Valuta asing
                                      (dalam Nilai                            (dalam Nilai
                                    penuh)/Foreign                          penuh)/Foreign
                                       currencies         Ekuivalen Rp/        currencies         Ekuivalen Rp/
                                    (in full amount)      Equivalent Rp     (in full amount)      Equivalent Rp

    Aset                                                                                                                                      Assets
    Kas                                                                                                                                         Cash
     Dolar Amerika Serikat                  242.377                 3.732            560.853               8.731            United States Dollar
     Dolar Singapura                        112.002                 1.308             94.164               1.092                 Singapore Dollar
     Dolar Australia                             25                     -                775                   8                 Australian Dollar
     Euro Eropa                                   -                     -              6.980                 116                  European Euro
                                                                                                                             Current accounts with
    Giro pada Bank Indonesia                                                                                                         Bank Indonesia
    Dolar Amerika Serikat                 6.200.000                95.461         7.100.000              110.529                United States Dollar
    Giro pada bank lain                                                                                          Current accounts with other banks
     - Pihak berelasi                                                                                                              Related party -
        Riyal Qatar                          66.832                   282             79.113                 338                      Qatari Riyal
     - Pihak ketiga                                                                                                                 Third parties -
        Euro Eropa                          861.422                14.677           734.512               12.179                  European Euro
        Dolar Amerika Serikat             6.244.955                96.154         3.613.608               56.255            United States Dollar
        Dolar Australia                     490.865                 5.164         1.576.019               16.639                 Australian Dollar
        Dolar Singapura                     980.783                11.452         1.123.266               13.025                 Singapore Dollar
        Dolar Hong Kong                      53.372                   105            84.662                  169               Hong Kong Dollar
        Yen Jepang                      291.325.346                31.720       117.218.490               13.810                   Japanese Yen
        Poundsterling Inggris               100.428                 1.971           835.541               15.697     Great Britiain Poundsterling
        Yuan China                           69.082                   150                                                           Chinese Yuan



                                                                      129
Page 310
                                                                                         The original financial statements included herein are in
                                                                                                                       the Indonesian language.

         PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
    Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                        unless otherwise stated)


40. Aset dan Liabilitas dalam Valuta Asing (lanjutan)                          40. Assets and Liabilities Denominated in Foreign
                                                                                   Currencies (continued)

                                                      2023                                      2022

                                     Valuta asing                              Valuta asing
                                     (dalam Nilai                              (dalam Nilai
                                   penuh)/Foreign                            penuh)/Foreign
                                      currencies         Ekuivalen Rp/          currencies         Ekuivalen Rp/
                                   (in full amount)      Equivalent Rp       (in full amount)      Equivalent Rp

    Aset (lanjutan)                                                                                                                Assets (continued)
    Penempatan pada Bank Indonesia                                                                                   Placements with Bank Indonesia
     dan bank lain                                                                                                                 and other banks
     Dolar Amerika Serikat              43.000.000              662.071           58.000.000              902.915              United States Dollar
    Tagihan akseptasi                                                                                                        Acceptance receivables
     Dolar Amerika Serikat                        -                      -        11.751.348              182.939              United States Dollar
    Kredit yang diberikan - neto                                                                                                           Loans - net
     Dolar Amerika Serikat              82.684.962            1.273.100           65.106.580            1.013.547              United States Dollar
    Efek-efek                                                                                                                               Securities
     - Pihak berelasi                                                                                                                  Related party -
        Dolar Amerika Serikat                                                      7.963.611              123.974              United States Dollar
    Aset lain-lain                                                                                                                       Other assets
     Dolar Amerika Serikat              15.866.694              244.300              860.053               13.389              United States Dollar
     Dolar Australia                       (15.192)                (160)              (1.267)                 (13)                 Australian Dollar
     Euro Eropa                                118                    2              (14.756)                (245)                  European Euro
     Poundsterling Inggris                  45.767                  898               53.452                1.004       Great Britain Poundsterling
     Dolar Hong Kong                       (49.166)                 (97)             (79.857)                (159)               Hong Kong Dollar
     Yen Jepang                        (10.024.490)              (1.091)          (3.367.279)                (397)                   Japanese Yen
     Riyal Qatar                           (58.333)                (246)             (69.521)                (297)                      Qatari Riyal
     Dolar Singapura                         2.704                   32               66.636                  772                  Singapore Dollar
     Yuan China                            (69.068)                (150)                                                              Chinese Yuan

    Total asset                                               2.440.835                                 2.486.017                        Total assets


   Liabilitas                                                                                                                                Liabilities
   Liabilitas segera                                                                                                   Liabilities payable on demand
     Euro Eropa                                597                   10                    -                   -                     European Euro
     Dolar Amerika Serikat                  65.509                1.010               39.359                 613                United States Dollar
     Dolar Australia                             6                    -                   70                   1                    Australian Dollar
     Dolar Singapura                         1.124                   13                   43                   -                    Singapore Dollar
   Simpanan dari nasabah                                                                                                    Deposits from customers
     - Pihak berelasi                                                                                                               Related parties -
         Dolar Amerika Serikat           5.075.118               78.142            5.218.438               81.238               United States Dollar
     - Pihak ketiga                                                                                                                    Third parties -
         Euro Eropa                        860.760               14.666              726.821               12.052                    European Euro
         Dolar Amerika Serikat         148.339.547            2.283.713          146.454.762            2.279.935            United States Dollar
         Dolar Australia                   475.910                5.007            1.575.661               16.636                 Australian Dollar
         Dolar Singapura                 1.093.642               12.770            1.282.018               14.862                 Singapore Dollar
         Dolar Hong Kong                     4.156                    8                4.756                    9                Hong Kong Dollar
         Yen Jepang                    281.379.600               30.637          113.941.089               13.423                   Japanese Yen
         Poundsterling Inggris             146.349                2.872              888.981               16.700     Great Britain Poundsterling
         Riyal Qatar                         8.416                   36                9.530                   41                      Qatari Riyal
   Simpanan dari bank lain                                                                                                 Deposits from Other Bank
     - Pihak ketiga                                                                                                                    Third parties -
         Dolar Amerika Serikat             100.789                1.552              100.709                1.568            United States Dollar
   Liabilitas akseptasi                                                                                                          Acceptance payables
         Dolar Amerika Serikat                    -                      -         1.347.275               20.974               United States Dollar
   Beban masih harus dibayar dan
     liabilitas lain-lain                                                                                                Accruals and other liabilities
         Dolar Amerika Serikat             391.772                6.032            1.259.265               19.607           United States Dollar
         Euro Eropa                             (2)                   -                   126                   2                European Euro
         Dolar Singapura                       286                    3                   949                  14              Singapore Dollar
         Dolar Australia                      (172)                  (2)                 (81)                  (1)             Australian Dollar
         Yen Jepang                         (1.378)                   -               (1.378)                   -                 Japanese Yen

    Total liabilitas                                          2.436.469                                 2.477.674                       Total liabilities

    Total aset - neto                                             4.366                                     8.343                   Total assets - net




                                                                    130
Page 311
                                                                      The original financial statements included herein are in
                                                                                                    the Indonesian language.

        PT BANK QNB INDONESIA TBK                                     PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                               As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                             for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


41. Jaminan terhadap Kewajiban Pembayaran Bank                41. Guarantees on The Obligations of Commercial
    Umum                                                          Banks

   Berdasarkan Undang-Undang No. 24 tanggal                      Based on Law No. 24 dated September 22, 2004,
   22 September 2004, efektif sejak tanggal                      effective September 22, 2005, Indonesian Deposit
   22 September 2005, Lembaga Penjamin Simpanan                  Insurance Corporation (Lembaga Penjamin
   (LPS) dibentuk untuk menjamin kewajiban tertentu              Simpanan/LPS) was established to provide
   bank-bank umum berdasarkan program penjaminan                 guarantee on certain deposits from customers
   yang berlaku.                                                 based on prevailing guarantee schemes.

   Total premi penjaminan yang dibayarkan untuk                  The guarantee premium paid for the period ended
   periode yang berakhir tanggal 31 Desember 2023                December 31, 2023 and 2022 amounted to
   dan 2022 adalah sebesar Rp19.977 dan Rp22.538                 Rp19,977 and Rp22,538, respectively (Note 30).
   (Catatan 30).

   Pada tanggal 31 Desember 2023 dan 2022, tingkat               As of December 31, 2023 and 2022 , interest rates
   suku bunga atas simpanan yang dijamin oleh LPS                of deposits secured by LPS were 4.25% and 3.75%,
   masing-masing sebesar 4,25% dan 3,75% untuk                   respectively, for Rupiah currency, and 2.25% dan
   mata uang Rupiah, serta masing-masing sebesar                 1.75% respectively, for foreign currency.
   2,25% dan 1,75% untuk valuta asing.

42. Segmen Operasi                                            42. Operating Segment

   a.   Bidang usaha                                             a.    Business activities

        Segmen Bank disajikan berdasarkan jenis                        The Bank’s segment information is presented
        kegiatan usahanya, yakni kredit, treasuri dan                  based on its business activities, namely credit,
        ekspor-impor.                                                  treasury and trade finance.

   b.   Segmen usaha                                             b.    Business segment

        Segmen geografis                                               Geographic segment

        Bank tidak mempunyai pendapatan dan aset                       The Bank does not have revenues and non-
        tidak lancar dari pelanggan eksternal selain                   current asset from external customers other
        yang diatribusikan kepada Negara domisili                      than attributed to the Bank’s country of
        bank.                                                          domicile.

        Segmen operasi                                                 Operating segment

        Segmen operasi dilaporkan sesuai dengan                        Operating segments         are   reported in
        laporan internal Bank yang disiapkan untuk                     accordance with the internal reporting provided
        pengambilan keputusan operasional yang                         to the chief operating decision maker which is
        bertanggung jawab untuk mengalokasikan                         responsible for allocating resources to certain
        sumber daya ke segmen tertentu dan penilaian                   segments and performance assessments.
        atas kinerjanya.

        Seperti yang dijelaskan di Catatan 2ac, Bank                   As explained in Note 2ac, the Bank is being
        saat ini dikelola sebagai segmen operasi                       managed as a single operating segment.
        tunggal. Pada saat ini, Bank hanya                             Currently, the Bank only analyzes segment
        menganalisa segmen secara geografis dimana                     based on the geographical area where the
        manajemen     menelaah      laporan  internal                  management reviews internal management
        manajemen secara bulanan untuk masing-                         reports on a monthly basis for each area.
        masing area.

        Tidak ada pendapatan dari satu konsumen                        There was no revenue from transactions with a
        eksternal atau pihak lain yang mencapai 10%                    single external customer or counterparty
        atau lebih dari total pendapatan Bank untuk                    reached 10% or more of the Bank’s total
        tahun     yang    berakhir    pada   tanggal                   revenue     for    the      period    ended
        31 Desember 2023 dan 2022.                                     December 31, 2023 and 2022.


                                                        131
Page 312
                                                                                         The original financial statements included herein are in
                                                                                                                       the Indonesian language.

        PT BANK QNB INDONESIA TBK                                                        PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                                for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


42. Segmen Operasi (lanjutan)                                               42. Operating Segment (continued)

    b.   Segmen usaha (lanjutan)                                                    b.     Business segment (continued)

         Segmen operasi (lanjutan)                                                         Operating segment (continued)

         Segmen Operasi Bank berdasarkan letak                                             Geographical segment information of the Bank
         geografis adalah sebagai berikut: (lanjutan)                                      was as follows: (continued)

         Bank mengelola kegiatan operasinya dan                                            The Bank manages its operating activities and
         mengidentifikasi segmen yang dilaporkan                                           indentifies its reporting segments based on
         berdasarkan wilayah geografis yang terbagi                                        geographical area that allocated into several
         menjadi beberapa area, yaitu Jakarta,                                             areas, namely, Jakarta, Sumatera, Jawa and
         Sumatera, Jawa dan wilayah Timur.                                                 East Region.

         Segmen Operasi Bank berdasarkan letak                                             Geographical segment information of the Bank
         geografis adalah sebagai berikut:                                                 was as follows:
                                                                    2023

                                                                    Jawa/                Wilayah Timur/
                                  Jakarta         Sumatera          Java                  East Region         Total

         Total aset                11.673.554           18.135            61.796                          -   11.753.485               Total assets
         Total liabilitas           5.109.792        1.504.077           448.167                          -    7.062.036             Total liabilities

                                                                    2022

                                                                    Jawa/                Wilayah Timur/
                                  Jakarta         Sumatera          Java                  East Region         Total

         Total aset                15.879.802          470.504            360.175                  6.606      16.717.087               Total assets
         Total liabilitas           8.077.550        2.762.466          1.156.141                 67.511      12.063.668             Total liabilities

                                                                        2023

                                                                    Jawa/                Wilayah Timur/
                                  Jakarta         Sumatera          Java                  East Region         Total

         Pendapatan bunga
           neto                       335.697         123.714              44.487                         -      503.898         Net interest income
         Provisi dan komisi -                                                                                                              Fees and
           neto                        47.403           7.313               8.290                         -       63.006        commission - net
         Pendapatan (beban)                                                                                                         Other operating
           operasional lainnya        185.004          (2.177)                 79                         -      182.906      income (expenses)
         Beban operasional           (675.650)         21.146             (26.057)                        -     (680.561)       Operating expenses

         Laba (rugi) sebelum                                                                                                  Income (loss) before
           Pajak penghasilan         (107.546)        149.996              26.799                         -       69.249            income tax



                                                                    2022

                                                                    Jawa/                Wilayah Timur/
                                  Jakarta         Sumatera          Java                  East Region         Total

         Pendapatan bunga
           neto                       228.903         158.794              41.056                  3.247         432.000        Net interest income
         Provisi dan komisi -                                                                                                             Fees and
           neto                        60.517           3.443               3.910                   257           68.127        commission - net
         Pendapatan operasional
           lainnya                     173.296          17.894              9.534                    604         201.328     Other operating income
         Beban operasional          (1.059.809)        (21.861)           (16.056)                (4.461)     (1.102.187)       Operating expenses

         Laba (rugi) sebelum                                                                                                  Income (loss) before
           pajak penghasilan         (597.093)        158.270              38.444                   (353)       (400.732)           income tax



         Pendapatan bunga, pendapatan provisi dan                                          The Bank’s interest income, fees and
         komisi, pendapatan operasional lainnya dan                                        commission income, other operating income
         pendapatan non-operasional Bank berasal dari                                      and non-operating income were generated from
         pelanggan/pihak lain yang berdomisili di                                          its customers/counterparties domiciled in
         Negara Indonesia.                                                                 Indonesia.

         Tidak terdapat transaksi dengan pelanggan                                         There was no transaction with single external
         eksternal tunggal yang mencapai 10% dari                                          customer which reached 10% of total interest
         jumlah pendapatan bunga yang dihasilkan                                           income generated by the Bank.
         Bank.
                                                                  132
Page 313
                                                                      The original financial statements included herein are in
                                                                                                    the Indonesian language.

        PT BANK QNB INDONESIA TBK                                       PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                               for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


43. Perjanjian yang Signifikan                                  43. Significant Agreements

    Perjanjian Sewa Menyewa Gedung dengan                          Leased Agreement with PT Adinusa Puripratama
    PT Adinusa Puritapratama

    Pada tanggal 11 April 2019, Bank menandatangani                On April 11, 2019, the Bank signed lease agreement
    perjanjian sewa menyewa dengan PT Adinusa                      with PT Adinusa Puripratama wherebt the Bank
    Puripratama, dimana Bank menyewa gedung                        leased Revenue Tower Ground Floor & 7,8,9
    Revenue Tower Lantai Dasar & 7,8,9 District 8 Jalan            located at District 8 Jalan Jend. Sudirman Kav 52-
    Jend. Sudirman Kav 52-53, Jakarta, yang digunakan              53, Jakarta, currently occupied as the Bank’s Head
    sebagai Kantor Pusat Bank dan kantor cabang.                   Office and branch office. This agreement was
    Perjanjian berlaku untuk jangka waktu 10 tahun                 effective for the period 10 years since signing of the
    sejak ditandatanganinya perjanjian.                            agreement.

    Perjanjian   Kerjasama     dengan     PT   Allianz             Mutual Agreement with PT Allianz Indonesia
    Indonesia

    Bank mengadakan perjanjian dengan PT Asuransi                  Bank signed an agreement with PT Asuransi Allianz
    Allianz Life Indonesia sehubungan dengan                       Life Indonesia in relation to market the Insurance
    penjualan produk Asuransi sesuai dengan model                  product in accordance with Bancassurance
    bisnis Bancassurance. Perjanjian kerjasama                     Business Model. This agreement was effective
    berlaku sejak 10 Desember 2019 untuk jangka                    since December 10, 2019 for the period of 10 years
    waktu 10 tahun sejak ditandatanganinya perjanjian              since the signing of the agreement and On 2020 this
    ini dan pada tahun 2020 perjanjian kerjasama ini di            agreement was approved by Financial Authorities
    setujui oleh Otoritas Jasa Keuangan.                           Service.

    Perjanjian Kerjasama dengan PT Indosat Tbk                     Mutual Agreement with PT Indosat Tbk and
    dan PT Yuinsight Techologies International                     PT Yuinsight Techologies International

    Bank mengadakan perjanjian dengan PT Indosat                   Bank signed an agreement PT Indosat Tbk and
    Tbk dan PT Yuinsight Techologies International                 PT Yuinsight Techologies International in relation to
    sehubungan dengan pengembangan produk jasa                     banking product development. This agreement was
    perbankan. Perjanjian kerjasama berlaku sejak                  effective since September 14, 2019 for the period of
    14 September 2019 untuk jangka waktu 5 tahun                   5 years since the efective date.
    sejak tanggal efektif.

44. Aset Kontinjensi                                            44. Contingency Asset

    Sepanjang tahun 2023 dan 2022, Bank menghadapi                 During 2023 and 2022, the Bank faces several
    beberapa kasus hukum yang masih dalam proses                   unresolved legal cases, and lawsuits related to the
    dan gugatan sehubungan dengan kegiatan usaha                   Bank’s business activities. It is not possible for the
    Bank. Tidak memungkinkan bagi Bank untuk                       Bank to predict with certainty whether the Bank will
    memperkirakan dengan pasti apakah Bank akan                    succeed in each of these legal cases, or if not, the
    berhasil dalam setiap kasus hukum tersebut, atau               repercussions that may arise, but the Bank ensures
    jika tidak, dampak yang mungkin timbul, namun                  that the Bank’s legal position on the legal issues is
    demikian Bank memastikan bahwa posisi hukum                    strong and will not affect the business being run by
    Bank atas permasalahan hukum tersebut kuat dan                 the Bank.
    tidak akan mempengaruhi usaha yang sedang
    dijalankan Bank.

45. Transaksi Non-Kas                                           45. Non-Cash Transaction

    Pada tanggal 31 Desember 2023, terdapat transaksi              As of December 31, 2023, there are non-cash
    non-kas atas reklasifikasi lisensi dan perangkat               transactions of licence and software reclassification
    lunak dari biaya dibayar dimuka ke aset takberwujud            from advance payment to intangible assets total
    dengan total sebesar Rp14.465. Selain itu, terdapat            amounted to Rp14,465. Also, there are
    reklasifikasi dari biaya dibayar dimuka menjadi                reclassification from advance payment to hardware
    perangkat keras sebesar Rp13.562 dan reklasifikasi             amounting to Rp13,562 and reclassification from
    dari bangunan ke properti terbengkalai sebesar                 building to abandoned property amounting to
    Rp6.124.                                                       Rp6,124.


                                                          133
Page 314
                                                                             The original financial statements included herein are in
                                                                                                           the Indonesian language.

        PT BANK QNB INDONESIA TBK                                              PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                      for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                              unless otherwise stated)


45. Transaksi Non-Kas (lanjutan)                                     45. Non-Cash Transaction (continued)

    Pada tanggal 31 Desember 2022, terdapat transaksi                     As of December 31, 2022, there are non-cash
    non-kas atas reklasifikasi lisensi dan perangkat                      transactions of licence and software reclassification
    lunak dari biaya dibayar dimuka ke aset takberwujud                   from advance payment to intangible assets total
    dengan total sebesar Rp17.726. Selain itu, terdapat                   amounted to Rp17,726. Also, there are
    reklasifikasi dari aset lain-lain menjadi aset tetap                  reclassification from other assets to fixed assets
    total sebesar Rp13.532.                                               amounting to Rp13,532.

46. Informasi Tambahan Arus Kas                                      46. Supplemental Information Of Cash Flow

    Rekonsiliasi liabilitas yang timbul dari aktivitas                    Reconciliation of liabilities occurred from financing
    pendanaan.                                                            activities.

    Tabel dibawah ini menunjukkan rekonsiliasi liabilitas                 The table below shoes reconciliation of liabilities
    yang timbul dari pendanaan untuk periode yang                         occurred from financing activities for the year ended
    berakhir pada tanggal 31 Desember 2023 dan 2022,                      December 31, 2023 and 2022, as follows:
    sebagai berikut:

                                 31 Desember/                                        31 Desember/
                                 December 31,    Arus Kas/        Perubahan non-kas/ December 31,
                                     2022        Cash flows        Non-cash changes      2023

    Liabilitas sewa                    124.580         (24.148)             6.204           106.636                    Lease liability
    Pinjaman yang diterima           1.000.000      (1.000.000)                 -                 -                      Borrowings

    Total                            1.124.580      (1.024.148)             6.204           106.636                             Total



                                 31 Desember/                                        31 Desember/
                                 December 31,    Arus Kas/        Perubahan non-kas/ December 31,
                                     2021        Cash flows        Non-cash changes      2022

    Efek-efek yang diterbitkan          99.888       (100.000)                112                 -                 Securities issued
    Liabilitas sewa                    146.228        (29.774)              8.126           124.580                    Lease liability
    Pinjaman yang diterima           1.000.000              -                   -         1.000.000                      Borrowings

    Total                            1.246.116       (129.774)              8.238         1.124.580                             Total



47. Standar Akuntansi dan Interpretasi Standar yang                  47. New Accounting Standard and Interpretation of
    Telah Disahkan Namun Belum Berlaku Efektif                           Standard Which Has Issued But Not Yet
                                                                         Effective

    Standar akuntansi yang telah diterbitkan sampai                       The accounting standards that have been issued up
    tanggal penerbitan laporan keuangan Bank namun                        to the date of issuance of the Bank’s        financial
    belum berlaku efektif diungkapkan berikut ini.                        statements, but not yet effective are disclosed
    Manajemen Bank bermaksud untuk menerapkan                             below. The Bank’s management intends to adopt
    standar-standar tersebut yang dipertimbangkan                         these standards that are considered relevant to the
    relevan terhadap Bank pada saat efektif, dan                          Bank when they become effective, and the impact to
    dampaknya terhadap posisi dan kinerja keuangan                        the financial position and performance of the Bank
    Bank masih diestimasi pada tanggal 28 Februari                        is still being estimated as of February 28, 2024:
    2024:

    Mulai efektif pada atau setelah tanggal 1 Januari                     Effective beginning on or after January 1, 2024
    2024

    Pilar Standar Akuntansi Keuangan                                      Financial Accounting Standards Pillars

    Standar ini memberikan persyaratan dan pedoman                        These standards provides requirements and
    bagi entitas untuk menerapkan standar akuntansi                       guidelines for entities to apply the correct financial
    keuangan yang benar dalam menyusun laporan                            accounting standards in preparing general purpose
    keuangan bertujuan umum. Akan ada 4 (empat)                           financial statements. There will be 4 (four) financial
    standar akuntansi keuangan yang saat ini                              accounting standards that are currently applied in
    diterapkan di Indonesia, yaitu:                                       Indonesia, namely:

                                                            134
Page 315
                                                                         The original financial statements included herein are in
                                                                                                       the Indonesian language.

        PT BANK QNB INDONESIA TBK                                        PT BANK QNB INDONESIA TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
   Tahun yang Berakhir pada Tanggal Tersebut                                for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


47. Standar Akuntansi dan Interpretasi Standar yang              47. New Accounting Standard and Interpretation of
    Telah Disahkan Namun Belum Berlaku Efektif                       Standard Which Has Issued But Not Yet
    (lanjutan)                                                       Effective (continued)

    Mulai efektif pada atau setelah tanggal 1 Januari               Effective beginning on or after January 1, 2024
    2024 (lanjutan)                                                 (continued)

    Pilar Standar Akuntansi Keuangan (continued)                    Financial Accounting Standards Pillars (continued)

    1.   Pilar 1 Standar Akuntansi Keuangan                         1.    Pillar 1 International Financial Accounting
         Internasional,                                                   Standards,
    2.   Pilar 2 Standar Akuntansi Keuangan Indonesia               2.    Pillar 2 Indonesian Financial Accounting
         (PSAK),                                                          Standards (PSAK),
    3.   Pilar 3 Standar Akuntansi Keuangan Indonesia               3.    Pillar 3 Indonesian Financial Accounting
         untuk Entitas Swasta/Standar Akuntansi                           Standards for Private Entities/Indonesian
         Keuangan Indonesia untuk Entitas Tanpa                           Financial Accounting Standards for Entities
         Akuntabilitas Publik, dan                                        without Public Accountability, and
    4.   Pilar 4 Standar Akuntansi Keuangan Indonesia               4.    Pillar 4 Indonesian Financial Accounting
         untuk Entitas Mikro Kecil dan Menengah.                          Standards for Micro Small and Medium Entities.

    Standar Akuntansi Keuangan Internasional                        International Financial Accounting Standard

    Standar ini merupakan adopsi penuh dari                         This standard is a full-adoption of International
    International Financial Reporting Standards (“IFRS”)            Financial Reporting Standards (“IFRS”) which is
    yang diterjemahkan kata demi kata dan tidak ada                 translated in a word-for-word basis and there is no
    modifikasi dari Standar IFRS, termasuk tanggal                  modifications from IFRS Standards, including the
    efektifnya. Entitas yang memenuhi persyaratan                   effective date. Entities that meet the requirements
    dapat menerapkan standar ini, sejak tanggal efektif.            can apply this standard, from the effective date.

    Nomenklatur Standar Akuntansi Keuangan                          Financial Accounting Standards Nomenclature

    Standar ini ini mengatur penomoran baru untuk                   This standard regulates the new numbering for
    standar akuntansi keuangan yang berlaku di                      financial accounting standards applicable in
    Indonesia yang diterbitkan oleh DSAK IAI.                       Indonesia issued by DSAK IAI.

    Amandemen PSAK 73: Liabilitas Sewa dalam Jual                   Amendment of PSAK 73: Lease liability in a Sale
    Beli dan Sewa-balik                                             and Leaseback

    Amandemen PSAK 73 Sewa menetapkan                               The amendment to PSAK 73 Leases specifies the
    persyaratan yang digunakan penjual-penyewa                      requirements that a seller-lessee uses in measuring
    dalam mengukur kewajiban sewa yang timbul dalam                 the lease liability arising in a sale and leaseback
    transaksi jual beli dan sewa-balik, untuk memastikan            transaction, to ensure the seller-lessee does not
    penjual-penyewa tidak mengakui jumlah setiap                    recognise any amount of the gain or loss that relates
    keuntungan atau kerugian yang terkait dengan hak                to the right of use it retains.
    guna yang dipertahankan.

48. Tanggung Jawab Manajemen atas Laporan                        48. Management's Responsibility on the Financial
    Keuangan                                                         Statements

    Manajemen Bank bertanggung jawab atas                           The Bank’s management is responsible for the
    penyusunan penyajian laporan keuangan yang                      preparation and presentation of the financial
    diotorisasi oleh Direksi untuk terbit pada tanggal              statements which were authorized by Director for
    28 Februari 2024.                                               issuance on February 28, 2024.




                                                           135
Page 316
DISCLAIMER AND COPYRIGHT: All the information in this Annual Report has been carefully collated and verified. However,
PT Bank QNB Indonesia Tbk accepts no liability whatsoever for any direct or consequential losses arising from its use. Where an
opinion is expressed in this Annual Report, unless otherwise cited, it is a form of opinion of the authors which does not coincide
with that of any other party, and such opinions may not be attributed to any other party.
This Annual Report is distributed on a complimentary basis to valued business partners of PT Bank QNB Indonesia Tbk. It shall
not be reproduced in whole or in part without prior written permission of PT Bank QNB Indonesia Tbk.
Any and all matters arising as a result, whether directly or indirectly, from any violation of the provisions in this representation,
are not the burden of PT Bank QNB Indonesia Tbk, therefore PT Bank QNB Indonesia Tbk shall be released and exempted from
all forms of liability.
Page 317
Revenue Tower, 8th Floor
District 8, SCBD Lot 13
Jl. Jenderal Sudirman Kav. 52–53
Jakarta 12190
Telephone : (+62 21) 515 5155
Fax       : (+62 21) 515 5388
qnb.co.id

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Names mentioned 156 people and organisations named in the text · linked when the evidence is strong

linked org Bank QNB Indonesia Tbk · Company Name p.2 ×419
linked person Windiartono Tabingin · Director p.24 ×32
linked person Soemenggrie Jongkamto · Director p.24 ×29
linked person Djoko Sarwono · Commissioner p.25 ×42
linked person Muhammad Anas Malla · Commissioner p.25 ×39
linked org Qatar National Bank p.28 ×10
linked — Ooredoo Hutchison p.36
linked org PT Syailendra Capital p.37
linked org Trimegah Sekuritas Tbk. p.38 ×2
linked — Standard Chartered p.44 ×3
linked person Fatma Al-Suwaidi p.48 ×7
linked person Khalid Al-Sada p.49 ×9
linked org Bank UOB Indonesia. p.53 ×2
linked org Bank OCBC NISP Tbk. p.53 ×2
linked org PT Bank KEB Hana Indonesia. p.53 ×3
linked person Romy Yulianto Santoso · Member p.53 ×4
linked org Bank CIMB Niaga p.54
linked org Bank Mandiri p.54
linked org Bank Permata p.54 ×2
linked org Bank Mega. p.54
linked org Bank CTBC p.55 ×2
linked person Amir Abadi Jusuf p.57 ×5
linked person Heru Subroto · Anggota p.98 ×8
linked org Bank Oke Indonesia p.99
linked person Regina Lestari Busono · Member p.107
possible person Haryanto Suganda · President Director p.20 ×39
possible — Batavia Prosperindo p.37
possible org Bank Rakyat Indonesia p.45
possible org Bank Negara Indonesia (Persero) Tbk p.51 ×4
possible org Bank DBS p.55
possible org PT Bursa Efek Indonesia p.58 ×3
possible org Indosat Tbk p.75 ×4
possible org Bank QNB Indonesia’s p.85
possible person Khalid Ahmed Al-Sada · Commissioner p.89 ×4
possible — Fatma Abdulla Al-Suwaidi · President Commissioner p.92 ×2
possible — Nicolas Alix Groene (Nick Groene) · Director p.97 ×46
possible person Helmi p.193
possible person Fatma Abdulla S S Al-Suwaidi · Komisaris Utama p.193 ×2
unresolved org PT Bank QNB Indonesia Tbk’s p.2
unresolved — 2024 Strategy and Projections p.3
unresolved — 78 GCG Implementation Objectives p.3
unresolved — 79 GCG Principles p.3
unresolved — 80 GCG Roadmap p.3
unresolved — 81 GCG Mechanism p.3
unresolved — 81 GCG Programmes in 2023 p.3
unresolved — 82 GCG Assessment p.3
unresolved — 84 GCG Structure p.3
unresolved — Profile p.3 ×2
unresolved — Changes in p.3
unresolved org Executive Management Profiles p.3
unresolved org & Other Securities Listing Chronology p.3
unresolved org Capital Market Supporting Institutions p.3
unresolved — Membership in Associations p.3
unresolved — Statement of Profit or Loss p.3
unresolved — Statement of Cash Flows p.3
unresolved org Key Financial Ratios p.3
unresolved — Comparison of 2023 Targets and Achievements p.3
unresolved org Management and Employee Stock Option Programme p.3
unresolved org Bank Indonesia p.8 ×29
unresolved person Leonard Hendrik-Willem Van Sandick · Notaris p.28
unresolved org Indonesia Stock Exchange p.28 ×2
unresolved org Bank Maatschappij p.29
unresolved org Chinese Trading Company Limited p.29
unresolved org PT Bank QNB p.30
unresolved org Kesawan Tbk. p.30
unresolved org Bank Indonesia Certificates p.34
unresolved org Bank Guarantees p.36
unresolved org PT Allianz Life Indonesia. p.37
unresolved org PT Batavia Prosperindo Aset Manajemen p.37
unresolved org PT FWD Asset Management p.37
unresolved org PT Mandiri Manajemen Investasi Advantages p.37
unresolved org PT Manulife Aset Manajemen Indonesia p.37
unresolved org PT Trimegah Asset Management p.37
unresolved person Ir. H. Juanda p.42
unresolved org PT Asuransi Jiwa Bringin Jiwa Sejahtera p.45
unresolved person Windiartono · Compliance p.45
unresolved person Khalid p.49
unresolved org PT NISP Asset Management p.50
unresolved org PT Aberdeen Asset Management p.50
unresolved org PT Swadarma Sarana Informatika p.51
unresolved org PT Swadarma Sarana Informatika. Mr. Anas Malla p.51
unresolved org Bank Commonwealth. Carina Hastari Tanubrata p.53
unresolved org Bank UOB Indonesia. Commonwealth p.53
unresolved org PT Bank ANZ Indonesia. She p.54
unresolved org PT Bank KEB Hana Had p.54
unresolved org Bank Commonwealth p.54
unresolved org HSBC Corp. Ltd. p.54
unresolved org Bank Mega. Ibnu Gutomo p.54
unresolved org Bank Credit Lyonnais Indonesia p.54
unresolved org Bank Permata Indonesia p.54
unresolved org PT Bank ICBC Indonesia p.55
unresolved org PT Bank CTBC Indonesia. p.55 ×2
unresolved org AHP & Partners p.55
unresolved org PT Sigma Batara p.55
unresolved org Bank QNB Indonesia Shelf Registration Bond I Phase p.56 ×2
unresolved org Young Global Limited p.57
unresolved org Mawar & Rekan p.57 ×4
unresolved person Rudi Hartono Purba S.E. p.57
unresolved person Bimo I. Santoso p.57 ×3
unresolved org PT Adimitra Jasa Korpora p.58
unresolved person H. R. Rasuna Said p.58
unresolved org PT Kustodian Sentral Efek Indonesia p.58
unresolved org Warens & Partners p.58
unresolved person Committee · Member p.59
unresolved org Kota Nusantara p.62
unresolved org Bank In p.63
unresolved org Bank Indonesia’s p.68 ×2
unresolved org Bank BCA. In p.73
unresolved org Bank GCG p.80
unresolved person Lia p.85
unresolved org Bank Audit Committee p.85
unresolved org Mawar & Partners p.88
unresolved person Geoffry Nugraha · Director p.89 ×5
unresolved person Fatma Abdulla SS Al-Suwaidi p.89
unresolved — Geoffry · Institutional p.94
unresolved — Nugraha1 · Banking p.94
unresolved — Tabingin · Director p.94
unresolved — Geoffry Nugraha1 · Director p.97
unresolved person Chairperson · Commissioner p.98 ×3
unresolved person Achmad Effendy Abdurachman · Anggota p.98 ×7
unresolved org Koperasi Swadharma p.99
unresolved org PT SDD Group p.99
unresolved org PT Mitra Bisnis Ciptakarya p.99
unresolved org PT Bank KEB Hana · Independent Commissioner p.99
unresolved org PT Roche Indonesia p.100
unresolved org PT Anugerah Pharmindo Lestari p.100
unresolved org PT Takeda Indonesia p.100
unresolved person Ruth Theresia · Anggota p.101
unresolved person Tjetjep Hasmitha · Anggota p.102 ×3
unresolved org Bank Soundness Level Semester II p.103
unresolved person Haryuninglistia Setiantini · Member p.104 ×3
unresolved person Nancy Prasetijo · Member p.104 ×2
unresolved — Nancy Prasetijo1 p.104
unresolved person Farel Tua Silalahi · Chairman p.107 ×2
unresolved person Bambang Harjono · Member p.107
unresolved — Regina Lestari Busono3 p.107
unresolved person Novia Valencia Wibowo · Member p.107
unresolved person Dennis Tanu Utomo · Member p.107
unresolved — Dennis Tanu Utomo5 p.107
unresolved — Farel Tua Silalahi1 p.114
unresolved — Lia Indriani 2 · Member p.114 ×5
unresolved — Victor Teja 5 · Member p.114 ×2
unresolved — Nancy Prasetijo6 p.114
unresolved org QNB Indonesia Tbk p.172
unresolved org Menteri Hukum dan Hak Asasi p.189
unresolved person Fathiah Helmi p.189 ×2
unresolved person This Helmi p.189
unresolved org Ministry of Law and Human Rights p.189
unresolved org Kementerian Hukum dan Hak Asasi p.189
unresolved org Menteri Keuangan Republik p.189
unresolved org Minister of Finance p.189
unresolved org Kementerian p.193
unresolved org Minister of Laws and Human Rights p.193
unresolved person Khalid Ahmed KH A Al-Sada · Komisaris p.193 ×8
unresolved person Bambang Eko Priyantono · Anggota p.194 ×2
unresolved person Nugrahaini Mulyasari · Anggota p.194

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