Slides
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2Q 2025 Results Presentation Jakarta, 19 September 2025
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Scan to download the materials Annual Report 2024 Sustainability Report 2024 Financial Statement 2Q25 Corporate Presentation 2Q25
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01 02 03 04 05 06 07 08 Introduction Management Highlights Financial & Operation Asset Quality & Capital Digital Innovations & Performance Subsidiaries Performance Environmental, Social & Governance Appendix 4 - 8 9 - 18 19 - 31 32 - 37 38 - 48 49 - 57 58 - 65 66 - 86 Table of contents 3 |
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No Shareholder June 2024 June 2025 Number of Shares % Number of Shares % 1 Government of RI a) 48,533,333,334 52.0% 48,533,333,334 52.0% 2 INA 7,466,666,666 8.0% 7,466,666,666 8.0% 3 Local Institutions 4,319,915,691 4.6% 4,907,063,120 5.3% 4 Local Retail 1,777,783,113 1.9% 3,182,543,686 3.4% 5 Foreign 31,235,634,528 33.5% 29,243,726,526 31.3% Total 93,333,333,332 100.0% 93,333,333,332 100.0% BMRI Historical Share Price Performance Versus JCI – YoY Trend BMRI Share Performance Versus JCI – YTD June 2025 Trend BMRI 2024A Jun-25 2025E b) 2026E b) 5y Avg. c) 10y Avg. c) Net Profit (Rp Bn) 56,224 24,455 55,049 58,615 Net Profit YoY Growth (%) 2% -8% -1% 6% ROA – After Tax (%) 2.42 1.98 2.19 2.15 2.04 2.02 ROE – After Tax d) (%) 21.2 18.1 18.7 18.7 17.6 15.2 P/E e) (x) 9.54 8.09 7.57 7.14 12.1 13.5 P/B e) (x) 1.87 1.79 1.38 1.28 1.84 1.87 Dividend Yield e) (%) 6.21 9.55 9.24 9.01 4.07% -17.6% 11.1% 41.3% 21.9% -5.79% -14.4% 1.70% -5.09% 10.1% 4.09% 6.16% -2.65% -2.15% BMRI Share Price YoY JCI Performance YoY Notes: a) Majority of the shares had been transferred to Danantara, with Ministry of SOE holds the 1 series A share b) Bloomberg consensus as of 18 September 2025 c) 5y avg. From 2020 – 2024. 10y avg. from 2015– 2024 d) ROE = PATMI / average shareholders' equity excluding minority interest, Cons. ROE = PATMI / average total equity e) Trailing numbers, using ending period price -14.4% -2.15% BMRI JCI 4 | BMRI share price performance & shareholder composition
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KUSWIYOTO PRESIDENT COMMISSIONER Experience • 2019 President Director of PT Pegadaian • 2017 Director Consumer Banking of PT Bank Rakyat Indonesia (Persero), Tbk. 5 | Board of Commissioners ZAINUDIN AMALI DEPUTY PRESIDENT COMMISSIONER Experience • 2024 to date Vice President Commissioner of PT Bank Mandiri (Persero), Tbk. • 2019-2023 Minister of Youth & Sports • 2014-2019 Chairman of Commission II of The House of Representatives of the Republic of Indonesia MUHAMMAD YUSUF ATEH COMMISSIONER Experience • 2021 to date Commissioner of PT Bank Mandiri (Persero), Tbk. • 2020 Head of Indonesia's National Government Internal Auditor • 2013-2020 Deputy of Ministry of State Apparatus Utilization and Bureaucratic Reform YULIOT COMMISSIONER* Experience • 2025 Deputy Minister of Energy & Mineral Resources • 2024 Vice Minister of Investment / Vice President of BKPM • 2023 Deputy for Investment Implementation Control of BKPM MIA AMIATI INDEPENDENT COMMISSIONER Experience • 2022 Head of the East Java High Prosecutor’s Office • 2021 Director of Strategic Development Security of Indonesia’s Attorney General’s Office for Intelligence *) Effective after successfully obtaining approval and passing the Fit and Proper Test administered by the Financial Services Authority (Otoritas Jasa Keuangan) ZULKIFLI ZAINI INDEPENDENT COMMISSIONER* Experience • 2021-2025 President Commissioner and Independent Commissioner of PT Perkebunan Nasional III (Persero) • 2019-2021 President Director of PT Perusahaan Listrik Negara (Persero) • 2017-2019 Commissioner of PT Bank Permata, Tbk. LUKY ALFIRMAN COMMISSIONER* Experience • 2022 General Directorate of Fiscal Balance of Indonesia’s Ministry of Finance • 2019 to date Commissioner of Lembaga Penjamin Simpanan • 2017 General Directorate of Budget Financing& Risk Management of Indonesia’s Ministry of Finance
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6 | Board of Directors (1/2) DARMAWAN JUNAIDI PRESIDENT DIRECTOR RIDUAN PRESIDENT DIRECTOR* TONI E. B. SUBARI OPERATION DIRECTOR Experience • 2020 to date President Director of BMRI • 2018-2020 Director of BMRI Treasury & International Banking • 2017-2018 Director of BMRI Treasury • 2017 Acting President Director of PT Semen Indonesia (Persero) Tbk. Experience • 2025 Vice President Director PT Bank Mandiri (Persero), Tbk. • 2024-2025 Corporate Banking Director PT Bank Mandiri (Persero), Tbk. • 2019-2024 Commercial Banking Director of PT Bank Mandiri (Persero), Tbk. • 2017-2019 SEVP Middle Corporate of PT Bank Mandiri (Persero), Tbk. Experience • 2021 to date Director of BMRI Operation Director • 2017-2020 President Director of Bank Syariah Mandiri • 2016-2017 SEVP of BMRI Special Asset Management • 2014-2016 Regional CEO I Medan of BMRI TIMOTHY UTAMA OPERATION DIRECTOR Experience • 2021-2025 Director Information Technology of PT Bank Mandiri (Persero), Tbk. • 2016-2021 Managing Director of Citibank • 2012-2015 Chief Operations & TechnologyOfficer of Singapore Exchange EKA FITRIA COMPLIANCE & HUMAN CAPITAL DIRECTOR Experience • 2023-2025 Director Treasury & International of PT Bank Mandiri (Persero), Tbk. • 2021-2022 Group Head International Banking & Financial Institution of PT Bank Mandiri (Persero), Tbk. DANIS SUBYANTORO RISK MANAGEMENT DIRECTOR Experience • 2024 to date Director of Risk Management of PT Bank Mandiri (Persero), Tbk. • 2021-2024 SEVP Internal Audit of PT Bank Mandiri (Persero), Tbk. • 2020-2021 SEVP Wholesale Risk of PT Bank Mandiri (Persero), Tbk. HENRY PANJAITAN VICE PRESIDENT DIRECTOR* Experience • Director of PT Jaminan Kredit Indonesia’s Guarantee Business • Director Retail Banking of PT Bank Negara Indonesia (Persero), Tbk. TOTOK PRIYAMBODO COMMERCIAL BANKING DIRECTOR Experience • 2024 to date Director Commercial Banking of PT Bank Mandiri (Persero), Tbk. • 2020-2023 SEVP Commercial Banking of PT Bank Mandiri (Persero), Tbk. • 2018-2020 Group Head Commercial Banking of PT Bank Mandiri (Persero), Tbk. *) Effective after successfully obtaining approval and passing the Fit and Proper Test administered by the Financial Services Authority (Otoritas Jasa Keuangan)
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7 | Board of Directors (2/2) MOCHAMAD RIZALDI CORPORATE BANKING DIRECTOR Experience • 2024 SEVP Corporate Banking of PT Bank Mandiri (Persero), Tbk. • 2024 Commissioner of PT Mandiri Sekuritas • 2021 SEVP Special Asset Management of PT Bank Mandiri (Persero), Tbk. SAPTARI CONSUMER BANKING DIRECTOR Experience • 2024 SEVP Micro & Consumer Finance of PT Bank Mandiri (Persero), Tbk. • 2024 Commissioner of PT Mandiri Tunas Finance • 2022 Group Head Commercial Banking 1of PT Bank Mandiri (Persero), Tbk. ARI RIZALDI TREASURY & INTERNATIONAL BANKING DIRECTOR Experience • 2024 Director Treasury & International Banking PT Bank Syariah Indonesia, Tbk. • 2020 Group Head Treasury of PT Bank Mandiri (Persero), Tbk. NOVITA WIDYA ANGGRAINI FINANCIAL & STRATEGY DIRECTOR Experience • 2020 Director Finance of PT Bank Negara Indonesia (Persero), Tbk. • 2020 Group Head Strategy & Performance Management of PT Bank Mandiri (Persero), Tbk. • 2017 Group Head Accounting of PT Bank Mandiri (Persero), Tbk. JAN WINSTON TAMBUNAN NETWORK & RETAIL BANKING DIRECTOR Experience • 2023 Regional CEO Area IV / Jakarta 2 of PT Bank Mandiri (Persero), Tbk. • 2021 Regional CEO Area IX / Kalimantan of PT Bank Mandiri (Persero), Tbk. SUNARTO INFORMATION TECHNOLOGY DIRECTOR* Experience • SEVP Digital Banking of PT Bank Mandiri (Persero), Tbk. • Group Head Digital Banking Product of PT Bank Mandiri (Persero), Tbk. *) Effective after successfully obtaining approval and passing the Fit and Proper Test administered by the Financial Services Authority (Otoritas Jasa Keuangan)
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Direct Beneficiary of Structural Growth in Indonesia Securing Dominance Through Digital Innovations and Business Adaptations Broad Opportunities Across Corporate Wholesale and Retail Segments Strong Foundation to Sustain Low Costs Across Funding, Operations and Credit Achieving Market Leadership With High Returns at Modest Valuations Bank Mandiri group investment thesis 8 |
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Management Highlights
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14,247 14,141 14,529 14,297 14,874 15,248 16,102 16,298 16,484 6.00% 5.00% 3.75% 3.50% 5.50% 6.00% 6.00% 5.50% 4.25% 3.13% 2.72% 1.68% 1.87% 5.51% 2.61% 1.57% 1.87% 2.38% 5.17% 5.02% -2.07% 3.70% 5.31% 5.05% 5.03% 5.12% 4.96% FY18 FY19 FY20 FY21 FY22 FY23 FY24 Jun-25 FY25E 11 , 90 0 29 , 90 0 Daily Avg. Rp/USD BI-Rate (%) Inflation Rate (%) Real GDP (%) 1.33% 10.2% 11.5% 12.9% 16.3% 4.11% 6.82% 12.3% 11.2% 6.45% 6.54% 11.1% 12.2% 9.01% 3.73% 4.48% 4.75% 6.96% 0. 00% 2. 00% 4. 00% 6. 00% 8. 00% 10 . 00 % 12 . 00 % 14 . 00 % 16 . 00 % 18 . 00 % 20 . 00 % FY18 FY19 FY20 FY21 FY22 FY23 FY24 Mar-25 Jun-25 Bank-Only Deposit Growth (%) Industry Deposit Growth (%) 2.37% 2.53% 3.06% 3.00% 2.44% 2.19% 2.08% 2.17% 2.22% 2.79% 2.39% 3.29% 2.81% 1.88% 1.02% 0.97% 1.01% 1.08% FY18 FY19 FY20 FY21 FY22 FY23 FY24 Mar-25 Jun-25 Industry NPL Ratio (%) Bank-Only NPL Ratio (%) 10 | Macroeconomic highlights & forecasts Source: Bloomberg, Financial Services Authority(OJK) NPL Ratio: Mandiri vs. Industry Deposit Growth YoY: Mandiri vs. Industry Loan Growth YoY: Mandiri vs. Industry 11.6% 10.2% -3.63% 8.45% 12.6% 16.4% 20.7% 17.0% 11.0%12.0% 6.08% -2.40% 4.92% 11.6% 10.6% 10.5% 9.31% 7.92% - 8. 0 % - 3. 0 % 2. 0% 7. 0% 12 . 0% 17 . 0% 22 . 0% 27 . 0% FY18 FY19 FY20 FY21 FY22 FY23 FY24 Mar-25 Jun-25 Bank-Only Loan Growth (%) Industry Loan Growth (%) Real GDP, Inflation, BI-Rate (%) & Daily Avg. Rp/USD
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11 | 1H25 Results vs. FY25 Guidance Net Interest Margin Loan Growth Cost of Credit 1H25 0.77% 1H25 11.0% NEW Higher Range Guidance (Previous Lower Range) Previous Higher Range 10.0%8.0% 1H25 4.92% 2Q 2025: Strengths and challenges to be addressed Key Strengths & Challenges to be Addressed Strengths Challenges 12.0% NEW Lower Range Guidance NEW Lower Range Guidance 4.8% Previous Higher Range 5.2% NEW Higher Range Guidance (Previous Lower Range) 5.0% NEW Lower Range Guidance 0.8% 1.0% Previous Higher Range 1.2% NEW Higher Range Guidance (Previous Lower Range) Resilient Asset Quality Asset quality remains resilient despite macroeconomic challenges, supported by an improvement in LAR to 6.92% and a stable NPL at 1.24%, driven by our strategic focus on resilient value chain segments within our ecosystem. Strong Non-Interest Income 1H25 non-interest income grew by 7.82% YoY, driven by treasury income which grew 36%, and digital recurring fee income at 12% YoY. Stable Yield of Loan Yield of loan improved to 7.86% in 2Q25 from 7.64% in 1Q25 bringing 1H25 yield to 7.75%, driven by loan repricing discipline. Operational Costs Consolidated Operational Expenses grew 25% YoY in 1H25 driven by both personnel and other expenses as well as G&A expense, driving CIR toward 44.5% in 1H25. Loan Growth Remained Modest but On Track QoQ loan growth remained modest at 2% (11% YoY), though we expect momentum to accelerate in the second half. Overall loan growth is on track to achieve our 8-10% loan growth guidance by Dec-25. Pressure in Cost of Fund Remains High Persistently tight liquidity conditions are exerting upward pressure on funding costs, creating a challenging cost of funds environment in 1H25.
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12 | Consolidated Loan Growth Breakdown Analysis Net NPL Formation a) Trend by Segment (Bank-Only, annualized) -0.71% 3.38% 9.82% 9.90% 10.7% 12.6% 13.8% 13.9% 16.0% 17.7% 8.05% 12.3% 11.0% -2.99% 0.67% 1.32% 1.53% -0.14% 2.19% 2.14% 2.10% 4.96% 4.32% 0.86% 2.30% 1.72% Auto Loan (incl. Multi- Finance Subsidiaries) SME Corporate Mantap (Subsidiary) Payroll Loan Micro (KUM+KUR) Mortgage BSI (Subsidiary) Credit Card Commercial Retail (Bank-Only) Wholesale (Bank-Only) BMRI Consolidated Jun-25 YoY (%) Jun-25 QoQ (%) % to total consolidated loans in June 2025 Achieving solid loan growth while maintaining sound asset quality 5% 5% 36% 3% 6% 6% 4% 17% 1% 18% 24% 54% 100% Note: a) Net NPL Formation = (Downgrade – Upgrade) / Average Balance Bank Only Loan Bank-Only Liquidity Trend: Loan & Deposit QoQ Growth and LDR 336 372 402 Jun-23 Jun-24 Jun-25 Non-Value Chain Value Chain +32.4% +3.31%+2.50% +17.1% Retail Loan: Value Chain vs. Non-Value Chain (Rp Tn) +10.8% +7.89% Net NPL Formation(a) (%) 1.27% 0.78% 0.84% FY24 1Q25 1H25
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13 | ...Supported by Solid Balance Sheet... Solid Top Line Growth… 49.1 19.4 69.6 26.1 43.5 6.91 26.6 52.4 20.9 73.4 32.7 40.7 7.28 24.5 Net Interest Income Non-Interest Income Total Revenue Operating Expense PPOP Provisions Expense PATMI (Profit After Tax & Minority Interest) 1H24 1H25 +6.73% +7.82% +25.2% -6.43% +5.29% -7.89% in Rp Tn +5.43% Notes: a) Loan Yield & CoF Deposit is calculated by using average daily balance approach b) Consolidated NIM is calculated by using average monthly balance approach c) ROE = PATMI / YTD average monthly equity excluding minority interest 1,532 1,238 1,651 2,258 1,701 1,354 1,828 2,515 Loans CASA Deposits Total Deposits Total Assets 1H24 1H25 +11.0% +9.30% +10.7% +11.4% in Rp Tn +11bps QoQ +12bps QoQ +14bps QoQ -11bps QoQ -18bps QoQ -88bps QoQ a) b) c) …and Well-Managed Key Ratios Maintaining high ROE amid challenging operational environment +7bps QoQ a) 7.76% 2.06% 5.09% 2.31% 0.98% 2.40% 20.9% 7.75% 2.44% 4.92% 2.60% 0.77% 1.98% 18.1% 0. 00% 5. 00% 10 . 00 % 15 . 00 % 20 . 00 % 25 . 00 % Loan Yield (Bank-only) CoF Deposit (Bank-Only) NIM Cost to Asset CoC ROA After tax ROE After Tax 1H24 1H25 -1bps -17bps +29bps -21bps -42bps -2.88pts +38bps
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Source: Financial Services Authority(OJK) Expanding CASA franchise through seamless and superior transactional experiences Maintain Above-Industry Savings Growth While Keeping Cost of Funds Stable with Livin’... ...While Kopra Strengthen Value Chain Strategy by Driving Demand Deposits with Managed Cost of Funds 0.47% 0.47% 0.49% 0.50% 0.48% 2Q24 3Q24 4Q24 1Q25 2Q25 Cost of Funds Trend Livin’ Trx Value CoF of Saving Deposits (Bank -Only) 2.60% 2.87% 2.88% 3.02% 3.03% 2Q24 3Q24 4Q24 1Q25 2Q25 Blended Demand Deposits KOPRA Trx Value CoF of Demand Deposits (Bank -Only) 20,232 21,428 22,703 23,824 24,695 2Q24 3Q24 4Q24 1Q25 2Q25 Trx Value Trailing 4-Quarters (Rp Tn) 3,644 3,856 4,026 4,175 4,226 2Q24 3Q24 4Q24 1Q25 2Q25 Trx Value Trailing 4-Quarters (Rp Tn) YoY: 16.0% YoY: 22.1% 1H25 Saving Deposit YoY Growth: Bank -Only vs Industry 1H25 Demand Deposit YoY Growth: Bank-Only vs Industry 8.54% 6.47% Mandiri - Bank-only Industry (ex-Mandiri) 10.3% 10.4% Mandiri - Bank-only Industry (ex-Mandiri) 14 |
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Balancing growth and profitability: loans, deposits, LDR and NIM 15 | Consolidated Net Interest Margin Bank-Only LDR vs QoQ Loan and Deposit Growth Bank-only Yield of Loan vs Cost of Deposit 7.38% 3.74% 5.64% -0.57% 1.86% 6.52% 0.85% 0.22% 4.29% 5.50% 90.5% 93.2% 98.0% 93.5% 90.2% 2Q24 3Q24 4Q24 1Q25 2Q25 QoQ Loan Growth QoQ Deposit Growth LDR 7.08% 7.11% 7.84% 7.77% 7.75% 1.56% 1.26% 1.74% 2.16% 2.44% 2021 2022 2023 2024 1H25 YTD Yield of Loan YTD Cost of Deposit 5.09% 5.47% 5.48% 5.15% 4.92% 2021 2022 2023 2024 1H25 Consolidated YTD NIM
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16 | Consolidated Non-Interest Income Breakdown by Type (Rp Tn) Consolidated Opex Breakdown (Rp Tn) 2.56 2.84 3.28 3.68 4.27 4.65 5.07 5.27 2.65 1.93 2.31 3.15 3.37 4.90 4.56 4.45 3.25 4.04 4.18 4.39 16.1 18.4 19.4 20.9 1H22 1H23 1H24 1H25 Total Consolidated YoY : 7.82% Subsidiaries a) % to Total : 21.0% YoY : 4.83% Recurring Fee Income Non-Digital % to Total : 25.2% YoY : 3.94% Recurring Digital Fee Income % to Total : 17.6% YoY : 11.9% G&A Expense % to Total Opex : 43.7% YoY : 34.3% Personnel & Other Expense % to Total Opex: 56.3% YoY : 19.0% Total Consolidated YoY : 25.2% Treasury Income % to Total : 15.0% YoY : 36.0% Cash Recoveries & Others % to Total : 21.3% YoY : -2.32% Strong non-interest income and operational cost trends Notes: a) Net of elimination 9.00 9.54 10.6 14.3 14.9 15.0 15.4 18.4 23.9 24.6 26.1 32.7 1H22 1H23 1H24 1H25 Consolidated Cost-to-Income Ratio (CIR) 40.3% 36.9% 37.5% 44.5% Consolidated Non-II to Revenue 27.2% 27.6% 27.9% 28.5%
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17 | Consolidated Loans at Risk (LaR) vs. Cost of Credit Trend LaR Coverage and NPL Coverage 2.76% 8.46% 3.24% 2.97% 2.70% 2.47% 2.81% 2.48% 4.22% 4.09% 4.02% 3.63% 3.44% 3.17% 3.23% 3.20% 2.85% 2.23% 1.17% 1.16% 1.13% 1.12% 1.17% 1.24% 9.83% 14.8% 8.43% 7.76% 7.27% 6.76% 7.21% 6.92% 1.84% 1.70% 1.05% 0.98% 0.87% 0.79% 0.88% 0.77% Avg. '17-'19 Avg. '20-'23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Cat. 1 Restru (%) SML (%) NPL (%) YTD CoC (%) 40.6% 40.5% 44.5% 44.2% 44.1% 45.0% 43.0% 44.5% 39.0% 42.1% 43.3% 42.8% 42.2% 43.0% 40.7% 42.4% 141% 269% 318% 293% 281% 271% 265% 246% 146% 298% 368% 332% 319% 304% 299% 273% Avg. '17-'19 Avg. '20-'23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Consol. LaR Coverage (%) Bank-Only LaR Coverage (%) Consol. NPL Coverage (%) Bank-Only NPL Coverage (%) Healthy asset quality trend with adequate coverage levels
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18 | Bank Mandiri consolidated FY-2025 guidance NEW! Loan Growth 8 – 10% Previous Guidance 10 - 12% NEW! NIM 4.8 – 5.0% Previous Guidance 5.0 - 5.2% NEW! Credit Cost 0.8 – 1.0% Previous Guidance 1.0 - 1.2% Net Interest Margin: • Maintain LDR at around 90% to support liquidity • Drive transactional CASA growth through value chain expansion • Improved Cost of Funds with better liquidity outlook in 2H25 Loan Growth: • Optimizing loan portfolio to enhance profitability • Aligning loan growth with deposit expansion • Prioritizing healthy sectors and ecosystem-driven value chain growth Cost of Credit Drivers: • Stable LaR and NPL formation • Maintain Bank-only NPL coverage at ~230% level • Normalizing level of provisioning releases 2025 Guidance on Loan Growth, Net Interest Margin and Credit Cost
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Financial & Operation
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Balance Sheet (Rp Bn) Jun-24 Mar-25 Jun-25 QoQ YoY Cash and Placement with BI & Other Banks 208,814 255,192 276,276 8.26% 32.3% Receivables (Acceptances & Others) 41,799 38,962 36,324 -6.77% -13.1% Gov't Bonds & Marketable Securities 399,511 403,673 413,389 2.41% 3.47% Loans 1,532,354 1,672,429 1,701,214 1.72% 11.0% Loan Provisions (51,755) (51,439) (51,296) -0.28% -0.89% Other Provisions (3,324) (3,303) (3,950) 19.6% 18.8% Fixed & Other Assets 130,402 148,144 142,728 -3.66% 9.45% Total Assets 2,257,801 2,463,659 2,514,684 2.07% 11.4% CASA: 1,238,450 1,269,712 1,353,650 6.61% 9.30% Current Account 612,071 590,295 672,166 13.9% 9.82% Savings Account 626,379 679,417 681,484 0.30% 8.80% Time Deposits 412,575 479,007 474,831 -0.87% 15.1% Third Party Funds 1,651,025 1,748,719 1,828,481 4.56% 10.7% Wholesale Funding 230,997 282,375 289,757 2.61% 25.4% Other Liabilities 93,447 147,387 98,529 -33.1% 5.44% Total Liabilities 1,975,469 2,178,481 2,216,767 1.76% 12.2% Equity excl. Minority Interest 254,353 254,164 266,829 4.98% 4.90% Minority Interest 27,979 31,014 31,088 0.24% 11.1% Total Liabilities & Equity 2,257,801 2,463,659 2,514,684 2.07% 11.4% Consolidated 20 | Optimized balance sheet
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P&L Summary (Rp Bn) 2Q24 1Q25 2Q25 QoQ YoY 1H24 1H25 YoY Interest Income 36,689 39,626 41,951 5.87% 14.3% 72,224 81,577 12.9% Interest Expense (11,794) (14,121) (15,072) 6.73% 27.8% (23,143) (29,193) 26.1% Net Interest Income 24,895 25,505 26,879 5.39% 7.97% 49,081 52,384 6.73% Net Premium Income 559 428 (367) -186% -166% 1,102 61 -94.5% Total NII & Premium Income 25,454 25,933 26,512 2.23% 4.16% 50,183 52,445 4.51% Non-Interest Income 9,829 11,245 9,687 -13.9% -1.44% 19,413 20,932 7.82% Total Operating Income 35,283 37,178 36,199 -2.63% 2.60% 69,596 73,377 5.43% Total Operating Expenses: (12,965) (15,169) (17,486) 15.3% 34.9% (26,077) (32,655) 25.2% Personnel Expenses (6,187) (7,178) (5,785) -19.4% -6.50% (12,233) (12,963) 5.97% G&A Expenses (5,300) (6,064) (8,216) 35.5% 55.0% (10,635) (14,280) 34.3% Other Expenses (1,478) (1,927) (3,485) 80.9% 136% (3,209) (5,412) 68.7% Pre-Provision Operating Profit (PPOP) 22,318 22,009 18,713 -15.0% -16.2% 43,519 40,722 -6.43% Provision Expenses (3,317) (3,895) (3,384) -13.1% 2.02% (6,913) (7,279) 5.29% Profit from Operations 19,001 18,114 15,329 -15.4% -19.3% 36,606 33,443 -8.64% Non-Operating Income 2 65 15 -76.9% 650% (1) 80 -8100% Net Income Before Tax 19,003 18,179 15,344 -15.6% -19.3% 36,605 33,523 -8.42% Profit After Tax & Minority Interest (PATMI) 13,849 13,197 11,258 -14.7% -18.7% 26,551 24,455 -7.89% Consolidated 21 | Strong revenue and net interest income growth despite rising costs
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87.7% 83.0% 83.0% 81.2% 86.0% 83.3% 80.0% 83.7% 84.8% 83.2% 77.6% 84.9% 85.7% 87.6% 86.8% 89.7% 90.5% 93.2% 98.0% 93.5% 90.2% 85.8% 80.7% 80.8% 79.2% 83.8% 81.3% 78.6% 81.2% 83.2% 81.3% 76.0% 82.9% 83.5% 84.3% 83.7% 86.3% 87.9% 90.6% 94.8% 88.2% 85.5% 70 . 0 % 80 . 0 % 90 . 0 % 10 0. 0% 11 0. 0% 12 0. 0% 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 LDR MIR Optimizing Asset and Liability Management (Bank-Only) LCR & NSFR > 100% (Consolidated) Liquidity Coverage Ratio (LCR) & Net Stable Funding Ratio (NSFR) Notes: MIR : Macroprudential Intermediation Ratio, defined as Total Financing (Loan & Bonds) divided by Total Funding (3rd party funds & qualified wholesale funding) LCR : Liquidity Coverage Ratio, defined as High Quality Liquid Asset divided by Net Cash Outflow NSFR : Net Stable Funding Ratio, defined as Bank's available stable funding (“ASF”) divided by its required stable funding (“RSF”) Loan-Deposit Ratio (LDR) & Macroprudential Intermediation Ratio (MIR) 186% 203% 208% 211% 196% 188% 198% 217% 196% 185% 187% 187% 171% 172% 170% 166% 147% 145% 141% 147% 131% 121% 124% 125% 122% 122% 124% 126% 123% 123% 120% 122% 113% 112% 117% 118% 113% 109% 109% 109% 109% 112% 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 LCR NSFR 22 | Key liquidity highlight in 2Q25
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Consolidated Notes: a) ROE = PATMI / YTD average monthly equity excluding minority interest b) Exclude Loan from Multi-finance Subsidiaries and Loan to Bank 23 | Key profitability ratios Ratios in % FY22 FY23 FY24 1H24 1H25 YoY PROFITABILITY NIM 5.47 5.48 5.15 5.09 4.92 -17bps Cost to IncomeRatio 42.4 38.8 40.0 37.5 44.5 7.03pts Cost to Asset Ratio (annualized) 2.67 2.48 2.41 2.31 2.60 29bps Non-Interest Income to Asset Ratio 1.89 1.95 1.84 1.75 1.69 -6bps Cost of Credit 1.44 0.85 0.79 0.98 0.77 -21bps Provision to Asset Ratio 0.81 0.47 0.49 0.61 0.58 -3bps RoA – after tax 2.21 2.64 2.42 2.40 1.98 -42bps RoRWA – after tax 3.63 4.50 4.12 4.09 3.31 -78bps RoE – after tax a) 19.7 23.2 21.2 20.9 18.1 -2.88pts FUNDING, LIQUIDITY & CAPITAL CASA Ratio 73.4 74.3 74.8 75.0 74.0 -98bps Loan to Deposit Ratio (LDR) – Bank Entity b) 78.3 85.8 95.1 89.7 90.1 37bps Loan to Funding Ratio (LFR) 72.8 78.0 82.9 81.4 80.3 -1.11pts Deposit to Interest Bearing Liabilities Ratio 90.2 88.0 84.3 87.7 86.3 -1.41pts Tier-1 Capital 18.6 20.8 19.6 19.0 18.3 -67bps CAR 19.7 22.0 20.8 20.1 19.5 -69bps ASSET QUALITY NPL Ratio 1.92 1.19 1.12 1.16 1.24 8bps Special Mention Loan Ratio 3.76 3.89 3.17 3.63 3.20 -43bps Coll. 1 Restructured LoanRatio – incl. Covid Restructured 6.19 3.54 2.47 2.97 2.48 -49bps Loan at Risk Ratio 11.9 8.62 6.76 7.76 6.92 -84bps NPL Coverage 285 326 271 293 246 -46.6pts Loan at RiskCoverage 46.4 45.3 45.0 44.2 44.5 33bps
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558 543 551 534 615 488 495 515 532 530 267 286 261 318 315 338 344 372 365 369 1,651 1,667 1,699 1,749 1,828 - 20 0 40 0 60 0 80 0 1,0 00 1,2 00 1,4 00 1,6 00 1,8 00 2,0 00 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Current Account Savings Account Time Deposit Subsidiaries 561 581 620 608 616 262 275 293 296 309 82 84 87 85 85 174 184 188 192 194 116 118 123 122 123 336 349 360 369 374 1,532 1,590 1,671 1,672 1,701 - 20 0 40 0 60 0 80 0 1,0 00 1,2 00 1,4 00 1,6 00 1,8 00 2,0 00 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Corporate Commercial SME Micro & Payroll Consumer Subsidiaries Break down 7.22% 36.2% 18.2% 5.01% 11.4% 22.0% 100% YoY 5.99% 9.82% 17.7% 3.38% 11.6% 11.1% 11.0% Loan Breakdown (Rp Tn) Third-Party-Fund Breakdown (Rp Tn) Break down 17.2% 33.7% 29.0% QoQ 15.3% -0.53% -0.87% QoQ 1.32% 4.32% 1.22% 1.72% 0.67% 1.01% 0.75% 20.2% 1.01% 100% 4.56% a) Notes: a) includes Institutional Banking and International Banking b) As of Jun-25, CASA Ratio for BSI is 61.8% & Mantap is 21.9% vs. Mandiri Bank-Only 78.5%. Bringing Consolidated CASA Ratio to 74.0%. YoY 10.3% 8.54% 18.1% 8.99% 10.7% b) 24 | Consolidated loan & deposit breakdown
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Loan Movement Bank-Only (Rp Tn) Loan Disbursement by Segment Bank-Only (Rp Tn) 1,300 + 219 - 39.7 - 23.9 - 126 - 4.86 - 0.18 1,324 1Q25 Disburs. Install. Payment Pay-off FX Impact Write-Offs 2Q25 112 54.2 22.3 19.6 10.3 219 Corporate Commercial Small Micro Consumer Total 16.7% -15.5% 26.0% 13.5% 0.98% -40.5% -97.6% +10.7% YoY Growth -15.5% 13.2% -46.2% -18.7% -16.8% -15.5% YoY Growth 25 | Bank-only loan movement analysis
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34.6 29.9 31.4 36.1 38.0 35.0 35.7 31.5 13.8 10.9 12.3 14.1 16.7 19.3 17.6 20.4 44.3 43.5 46.2 50.1 56.0 65.5 59.7 67.9 1.56 2.05 2.26 2.40 2.75 3.01 2.88 3.04 94.3 86.4 92.1 103 113 123 116 123 2019 2020 2021 2022 2023 2024 Jun-24 Jun-25 Auto Loan (Joint Finance) Credit Card Mortgage Others Micro & Payroll Loans (Rp Tn) Consumer Loan Breakdown (Rp Tn) 14.7 13.0 13.3 15.4 20.5 26.9 22.1 27.1 32.0 41.8 53.3 62.1 62.3 63.9 64.1 70.0 76.2 65.9 65.4 74.6 85.1 97.2 87.8 97.2 123 121 132 152 168 188 174 194 0.0 50. 0 100 .0 150 .0 200 .0 250 .0 2019 2020 2021 2022 2023 2024 Jun-24 Jun-25 Normal Micro (KUM) Subsidised Micro (KUR) Payroll Loan (KSM) Micro & Payroll Loan Growth as of Jun-25 Consumer Loan Growth Breakdown as of Jun-25 Loan Type % to Consolidated Loan % to Bank-Only Loan % to Micro & Payroll YoY (%) Normal Micro (KUM) 1.59 2.04 13.9 22.5 Subsidised Micro (KUR) 4.11 5.27 36.0 9.13 Payroll Loan (KSM) 5.71 7.32 50.0 10.7 Total Micro + Payroll 11.4 14.6 100 11.6 Loan Type % to Consolidated Loan % to Bank- Only Loan % to Total Consumer Loan YoY (%) Mortgage 3.99 5.12 55.3 13.8 Credit Card 1.20 1.54 16.6 16.0 Auto Loan (JF) 1.85 2.37 25.6 -11.9 Others 0.18 0.23 2.47 5.49 Total Consumer 7.22 9.25 100 5.99 Note: All figures are Bank-Only 26 | Micro, payroll & consumer loans
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3.91 3.95 4.94 4.96 5.08 6.27 7.77 15.4 15.6 17.2 0 2 4 6 8 10 12 14 16 18 20 Telco Energy & Water Wholesale Trade -… Water Transport. Serv. -… F&B industry Copper Manufacturing Pulp & Paper Manufacturing Transport. Support Infra. Constr. Coal Manufacturing Δ% 151% 59.2% 193% 11.8% 94.2% 70.5% 13.5% 14.8% 34.4% 24.6% Outstanding Increase Rp Tn Quarter-on-Quarter Year-on-Year 1.47 1.74 1.90 1.92 2.14 3.17 3.29 3.41 3.69 12.4 Trade - Automotive Land Transport. F&B Manufacturing Energy & Water Fertilizer Manufacturing Pulp & Paper Manufacturing Water Transport. Serv. -… Oil & Gas Nickel Mining Coal Manufacturing Δ% 39.7% 25.2% 108% 58.3% 52.1% 8.71% 14.2% 867% 6.93% 11.7% Outstanding Increase Rp Tn Quarter-on-Quarter 0.40 0.42 0.45 0.58 0.78 0.81 0.82 1.69 2.97 3.67 Hotel, Restaurant, &… Nickel Manufacturing Mining Services F&B Manufacturing Water Transport. Services -… Fertilizer Manufacturing Trade - Automotive Palm Plantation & CPO Pulp & Paper Manufacturing Coal Manufacturing Δ% 21.8% 83.5% 3.13% 12.3% 18.4% 2.57% 4.09% 6.00% 4.46% 6.54% Year-on-Year Δ% 37.9% 993% 10.2% 8.36% 3.58% 13.0% 3.37% 243% 10.8% 2.56%1.58 1.79 1.94 1.97 2.43 2.68 3.07 3.44 5.01 8.19 F&B Manufacturing Coal Manufacturing Wholesale Trade -… Coal Manufacturing Pulp & Paper Manufacturing Infra. Const. Water Transport. Serv. -… Telco Wholesale Trade -… Transport. Support Outstanding Increase Rp Tn Outstanding Increase Rp Tn Top 10 Industries Contributing to Wholesale (Corporate + Commercial) Loan Growth in Jun-25 2.35 3.18 3.24 3.72 4.60 4.85 4.93 6.27 14.9 16.1 0 2 4 6 8 10 12 14 16 18 Trading - CPO F&B Manufacturing Property - Investment Telco Pulp & Paper Manufacturing Coal Manufacturing Wholesale Trade -… Coal Manufacturing Infra. Constr. Transport. Support Outstanding Increase Rp Tn Quarter-on-Quarter Year-on-Year Δ% 141% 25.7% 52.1% 1,664% 13.8% 46.2% 14.6% 28.7% 7.00% 239% Δ% 44.3% 2,913% 12.3% 3.79% 36.6% 256% 10.8% 24.0% 63.0% 6.88%1.05 1.29 1.31 1.79 1.93 2.29 2.67 3.19 5.06 8.45 Oil & Gas Trading - CPO Livestock Copper Manufacturing Wholesale Trade -… Water Transport. Services… Infra. Constr. Telco Wholesale Trade -… Transport. Support Outstanding Increase Rp Tn Top 10 Industries Contributing to Corporate Loan Growth in Jun-25 Top 10 Industries Contributing to Commercial Loan Growth in Jun-25 Notes: • All figures are using Bank-Only loan • Exclude loan to Gov. of Indonesia Wholesale segment (Corporate & Commercial) analysis by industries 27 |
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536 1,029 1,375 1,496 1,915 3,977 615 1,034 1,322 1,981 2,081 4,028 Commercial SME Micro Treasury Corporate Consumer 1H25 1H24 14.7% 0.51% -3.85% 32.4% NII per Segment Analysis 1H25 in Rp Bn (Bank-Only) Non-Interest Income per Segment 1H25 in Rp Bn (Bank-Only) 8.67% 1.28% %YoY 28 | 6,606 5,515 3,233 3,296 4,617 4,636 1,261 1,294 10,896 10,590 (243) 302 1,850 2,210 201 1,016 598 660 4,617 4,636 1,261 1,294 (549) (1,437) 8,456 7,725 3,434 4,312 5,215 5,296 5,878 5,930 12,157 11,884 (792) (1,135) 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 Corporate Commercial SME Micro Consumer Treasury Asset Spread Liabilities Spread Balanced earnings contribution by business units
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7.08% 7.11% 7.84% 7.77% 7.75% 4.72% 5.23% 5.22% 4.92% 4.63% 1.70% 1.48% 2.10% 2.56% 2.80% 2021 2022 2023 2024 1H25 Yield of Loan NIM CoF IBL 1.56% 1.26% 1.74% 2.16% 2.44% 2.66% 2.19% 2.95% 3.77% 4.38% 1.49% 1.42% 2.24% 2.79% 3.02% 0.79% 0.48% 0.47% 0.48% 0.49% 2021 2022 2023 2024 1H25 Cost of Deposits Time Deposit Current Account Saving Account YTD NIM, Loan Yield and Cost of Interest-Bearing Liabilities (Bank-Only) YTD Cost of Fund by Type of Deposit (Bank-Only) YTD Loan Yield per Segment (Bank-Only) Notes: • The consolidated NIM is calculated using the average monthly balance approach, whereas the bank-only NIM, loan yield, and cost of funds are calculated using the average daily balance approach • BSI NIM are unaudited number 5.24% 5.32% 6.85% 7.01% 6.79% 6.42% 6.27% 6.81% 6.91% 7.11% 7.71% 8.00% 7.95% 7.59% 7.52% 9.31% 9.03% 8.56% 8.18% 9.03% 11.3% 11.5% 11.6% 11.2% 11.1% 2021 2022 2023 2024 1H25 Corp. (incl. Inst. & Int. Banking) Comm. SME Cons. (incl. CC) Micro & Payroll YTD NIM Analysis – Bank-Only, Banks Subsidiaries and Consolidated 4.94% 5.51% 5.42% 5.09% 4.63% 5.37% 5.41% 4.92% Bank-Only BSI Mantap Consolidated 1H24 1H25 29 | Net interest margin trend analysis
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Consolidated Notes: a) Net of elimination 30 | Non-interest income analysis Non-II Breakdown (Rp Bn) 2Q24 1Q25 2Q25 % to Total QoQ YoY 1H24 1H25 YoY Loan Related Fee 966 970 825 8.52% -14.9% -14.6% 1,794 1,795 0.06% Deposit Related and Remittance Fee 1,080 1,123 1,086 11.2% -3.27% 0.61% 2,128 2,209 3.82% Credit Card 478 492 467 4.82% -5.14% -2.41% 845 959 13.5% Mutual Fund & Bancassurance 159 156 153 1.58% -1.70% -3.84% 307 309 0.57% KOPRA Fee 593 575 574 5.93% -0.17% -3.16% 1,151 1,150 -0.15% E-Channel 1,077 1,200 1,325 13.7% 10.4% 23.0% 2,132 2,525 18.4% ATM 134 126 124 1.28% -2.06% -7.49% 244 250 2.29% Livin’ App a) 626 667 718 7.41% 7.71% 14.8% 1,182 1,385 17.1% Other E-Channel 318 407 483 4.99% 18.6% 52.0% 705 890 26.2% Recurring Non-Interest Income 4,354 4,516 4,430 45.7% -1.90% 1.76% 8,357 8,947 7.06% Fixed Income, FX & Derivatives 1,194 1,606 1,539 15.9% -4.19% 28.9% 2,312 3,145 36.0% FX & Derivatives 553 797 417 4.31% -47.6% -24.5% 1,120 1,214 8.35% Fixed Income 641 810 1,122 11.6% 38.5% 74.9% 1,191 1,931 62.1% Cash Recoveries 1,536 1,686 1,402 14.5% -16.8% -8.68% 3,030 3,088 1.91% Other Income 1,250 89 1,277 13.2% 1,342% 2.14% 1,530 1,366 -10.7% Non-Recurring Non-Interest Income 3,980 3,380 4,218 43.5% 24.8% 5.99% 6,871 7,599 10.6% Total Non-Interest Income (Bank-Only) 8,334 7,897 8,649 89.3% 9.52% 3.78% 15,228 16,545 8.65% Subsidiaries a) 1,495 3,348 1,039 10.7% -69.0% -30.5% 4,185 4,387 4.83% Total Non-Interest Income (Consolidated) 9,829 11,244 9,688 100% -13.8% -1.43% 19,413 20,933 7.83% Non-Interest Income to Revenue Ratio 27.9% 30.2% 26.8% -3.48pts -1.09pts 27.9% 28.5% 63bps
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Rp Bn 1H24 1H25 YoY % Base Salary 2,801 2,897 3.44% 8.87% Other Allowances 5,073 5,783 14.0% 17.7% Training 144 132 -8.34% 0.40% Bank-Only Personnel Expenses 8,018 8,812 9.90% 27.0% IT & telecoms 1,148 1,426 24.2% 4.37% Occupancy Related 1,398 1,609 15.1% 4.93% Promo & Sponsor 604 2,620 333% 8.02% Transport & Travel 272 300 10.2% 0.92% Goods, Prof. Svc. & Other 1,605 1,735 8.08% 5.31% Employee Related 1,372 1,745 27.2% 5.34% Bank-Only G&A Expenses 6,399 9,434 47.4% 28.9% Bank-Only Other Expenses 2,386 4,512 89.1% 13.8% Bank-Only OPEX (a) 16,803 22,759 35.4% 69.7% Subsidiaries - Personnel Expense 4,215 4,151 -1.52% 12.7% Subsidiaries - G&A Expense 4,236 4,846 14.4% 14.8% Subsidiaries - Others Expense 823 900 9.36% 2.76% Subsidiaries OPEX (b) 9,274 9,897 6.71% 30.3% Consolidated - Personnel Expense 12,233 12,963 5.97% 39.7% Consolidated - G&A Expense 10,635 14,280 34.3% 43.7% Consolidated - Other Expense 3,209 5,412 68.7% 16.6% Consolidated OPEX (a+b) 26,077 32,655 25.2% 100% 31 | Operating expense trend analysis 43.9% 45.2% 47.6% 45.9% 42.4% 38.8% 40.0% 37.5% 44.5% 40.4% 42.0% 44.6% 42.4% 38.2% 34.3% 35.0% 32.4% 43.4% 3.12% 3.04% 2.89% 2.85% 2.67% 2.48% 2.41% 2.31% 2.60% 2.79% 2.72% 2.54% 2.47% 2.21% 2.10% 1.99% 1.91% 2.31% CIR Consol (%) CIR Bank Only (%) Cost to Asset Consol (%) Cost to Asset Bank Only (%) 16.6 17.6 18.9 19.5 22.1 22.7 26.5 10.6 14.3 16.3 17.2 19.7 22.7 24.6 24.4 24.0 12.2 13.0 4.77 5.22 5.96 6.94 6.52 6.71 8.10 3.21 5.41 37.7 40.1 44.5 49.1 53.3 53.9 58.6 26.1 32.7 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1H24 1H25 G&A Expenses (Rp Tn) Personnel Expenses (Rp Tn) Other Expense (Rp Tn) Operating Expense Highlights
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Asset Quality & Capital
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Stage Loan Loss Reserve (LLR) Total Loan LLR/Loan 1 8.83 1,221 0.72% 2 16.5 84.0 19.6% 3 13.5 22.3 60.5% Total 38.8 1,328 2.92% 2Q 2025 Loan Loss Reserve (Bank-Only, Rp Tn) 2Q 2025 Loan Stage Profile by Segment (Bank-Only) Stage Corporate Commercial SME Micro & Payroll Consumer 1 90.4% 91.8% 95.6% 94.7% 93.6% 2 7.96% 7.20% 3.40% 2.64% 3.78% 3 1.61% 1.02% 0.96% 2.67% 2.64% Total 100% 100% 100% 100% 100% 143% 144% 221% 243% 285% 326% 271% 293% 246% 42.0% 36.8% 31.8% 38.6% 46.4% 45.3% 45.0% 44.2% 44.5% NPL Coverage Ratio LaR Coverage Ratio Loan at Risk Ratio Breakdown & Coverage (Consolidated) 2.70% 2.20% 13.8% 10.3% 6.19% 3.54% 2.47% 2.97% 2.48% 4.00% 4.58% 4.39% 4.31% 3.76% 3.89% 3.17% 3.63% 3.20% 2.75% 2.33% 3.10% 2.72% 1.92% 1.19% 1.12% 1.16% 1.24% 9.45% 9.11% 21.3% 17.3% 11.9% 8.62% 6.76% 7.76% 6.92% Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Jun-24 Jun-25 Cat. 1 Restru Cat 2 NPL Gross CoC (Consolidated, YTD annualized) 33 | 1.82% 1.40% 2.47% 2.05% 1.44% 0.85% 0.79% 0.98% 0.77% Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Jun-24 Jun-25 CoC - Consolidated Asset quality key highlight
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13.2 10.8 9.65 12.9 14.3 17.9 11.1 7.37 2.81 5.07 4.75 3.69 4.71 6.34 10.1 6.79 3.03 3.09 38.3% 43.8% 38.3% 36.5% 44.4% 56.7% 61.2% 41.1% 110% - 5. 0 10. 0 15. 0 20. 0 25. 0 30. 0 35. 0 2018 2019 2020 2021 2022 2023 2024 1H24 1H25 Write Off Recovery Recovery Rate NPL Movement 2Q24 3Q24 4Q24 1Q25 2Q25 Wholesale Banking Beginning Balance 5.1 5.5 5.4 5.5 5.5 (+) Downgrade 1.7 0.1 0.2 0.1 0.1 (-) Upgrade 0.1 0.0 0.0 0.0 0.0 (-) Collection 0.0 0.0 0.1 0.0 0.0 (-) Write-Offs 1.2 0.0 0.1 0.0 0.3 (+) Others 0.0 -0.1 0.0 0.0 -0.0 Ending Balance 5.5 5.4 5.5 5.5 5.2 Retail Banking Beginning Balance 6.2 6.5 6.6 7.1 7.6 (+) Downgrade 4.2 3.4 3.3 3.1 3.3 (-) Upgrade 0.8 0.6 0.7 0.7 0.6 (-) Collection 0.4 0.6 0.6 0.5 0.6 (-) Write-Offs 2.6 2.1 1.5 1.5 0.9 (+) Others 0.0 0.0 0.0 0.0 0.0 Ending Balance 6.5 6.6 7.1 7.6 8.9 Net NPL Formation b) (%) – Bank Only NPL Movement (Rp Tn) – Bank Only Write Off & Recovery a) (Rp Tn) – Bank Only NPL by Segment – Bank Only & Subsidiaries Notes: a) Recovery exclude penalty b) Net NPL Formation = (Downgrade – Upgrade) / Average Balance Bank Only Loan c) Exclude Loan to Bank Segment NPL Amount (Rp Tn) NPL Ratio (%) QoQ (bps) YoY (bps)2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 Corp. 2.27 2.26 2.12 0.40 0.37 0.34 -2 -6 Comm. 3.26 3.21 3.14 1.24 1.08 1.02 -7 -23 New 0.03 0.05 0.00 0.02 0.02 0.00 -2 -2 Legacy 3.24 3.16 3.14 4.25 4.08 4.02 -6 -23 SME 0.83 0.80 0.81 1.01 0.95 0.95 - -6 Micro & Payroll 3.01 4.17 5.06 1.73 2.17 2.60 43 87 Consumer 2.66 2.61 3.06 2.30 2.14 2.51 35 21 Bank Only c) 12.0 13.1 14.2 1.01 1.01 1.08 7 7 Subsidiaries 5.67 6.31 6.68 1.65 1.68 1.74 6 9 Consolidated c) 17.7 19.4 20.8 1.16 1.17 1.24 7 8 34 | Write-offs, recoveries and NPL trend Corp Comm SME Micro & Payroll Cons Total Bank Only 2018 0.00 4.21 4.90 2.46 3.23 2.07 2019 0.07 4.22 3.41 2.18 2.88 1.80 2020 1.20 4.67 1.80 2.27 3.52 2.37 2021 0.16 3.27 2.27 2.79 3.07 1.69 2022 0.07 1.69 2.79 2.75 2.49 1.32 2023 0.22 0.67 2.55 3.53 4.10 1.45 2024 0.27 0.37 1.52 4.01 3.64 1.27 Corp Comm SME Micro & Payroll Cons Total Bank Only 2019 0.07 4.22 3.41 2.18 2.88 1.80 2020 1.20 4.67 1.80 2.27 3.52 2.37 2021 0.16 3.27 2.27 2.79 3.07 1.69 2022 0.07 1.69 2.79 2.75 2.64 1.32 2023 0.22 0.67 2.55 3.53 4.10 1.45 2024 0.27 0.37 1.52 4.01 3.64 1.27 1H24 0.59 0.58 2.41 4.52 4.17 1.67 1H25 0.00 0.16 0.46 3.04 3.42 0.84
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21.9 22.6 27.5 27.9 29.8 29.6 29.1 36.6 38.6 34.9 35.8 35.4 37.2 37.0 35.5 37.4 37.2 38.5 12.4 11.1 8.14 7.17 8.15 8.43 8.50 8.62 8.94 69.2 69.5 71.0 72.3 75.0 73.5 75.0 82.4 86.0 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Current Special Mention Non-Performing 5.44% 5.28% 5.08% 5.04% 4.89% 4.62% 4.49% 4.93% 5.05% 53.4 51.9 48.6 46.0 45.1 43.2 41.5 47.8 43.1 39.3 38.6 38.0 39.6 38.2 36.4 38.0 37.7 38.9 15.4 13.8 10.4 9.09 9.79 9.84 9.77 9.72 9.82 108 104 97.0 94.6 93.1 89.4 89.2 95.2 91.8 0. 0 20 . 0 40 . 0 60 . 0 80 . 0 10 0. 0 12 0. 0 14 0. 0 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Current Special Mention Non-Performing 31.5 29.3 21.1 18.1 15.3 13.6 12.4 11.2 4.53 4.44 2.82 2.60 2.31 1.20 0.90 0.57 0.52 0.44 2.96 2.74 2.23 1.92 1.64 1.41 1.27 1.10 0.88 38.9 34.9 26.0 22.3 18.1 15.9 14.2 12.8 5.85 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Current Special Mention Non-Performing 8.49% 7.93% 6.94% 6.59% 6.07% 5.63% 5.34% 5.69% 5.40% 3.06% 2.65% 1.86% 1.56% 1.18% 1.00% 0.85% 0.77% 0.34% Current Ratio 31.6% 32.5% 38.7% 38.6% 39.7% 40.3% 38.8% 44.4% 44.9% SML 50.4% 51.5% 49.8% 51.5% 49.4% 48.3% 49.9% 45.1% 44.7% NPL 17.9% 16.0% 11.5% 9.9% 10.9% 11.5% 11.3% 10.5% 10.4% 81.0% 84.1% 81.4% 81.0% 84.3% 85.5% 87.1% 87.4% 77.4% 11.4% 8.1% 10.0% 10.4% 6.6% 5.7% 4.0% 4.0% 7.54% 7.6% 7.9% 8.6% 8.6% 9.0% 8.8% 8.9% 8.6% 15.0% 49.4% 49.7% 50.1% 48.6% 48.4% 48.3% 46.5% 50.2% 46.9% 36.4% 37.0% 39.2% 41.8% 41.0% 40.7% 42.6% 39.6% 42.4% 14.2% 13.2% 10.7% 9.6% 10.5% 11.0% 11.0% 10.2% 10.7% BAU Restructured Loans – Rp Tn COVID-19 Restructured Loans – Rp Tn Total Restructured Loans – Rp Tn % to total loan% to total loan % to total loan 35 | Consolidated restructured loan trend analysis
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36 | Notes: a) For 2018-2020, number refer to BankSyariah Mandiri stand alone b) Non-Joint Finance only Business Segments Loan Mix (% of Consolidated Loan) Cost of Credit (%) 2019 2020 2021 2022 2023 2024 1H25 q 2019 2020 2021 2022 2023 2024 1H25 Corporate 40.07 35.54 35.25 34.44 35.03 37.14 36.23 0.35 1.08 1.26 0.28 (0.23) (0.05) 0.05 Commercial 16.74 16.41 16.55 16.33 17.02 17.53 18.16 2.54 3.35 2.73 1.14 (0.76) (0.21) (0.10) SME 6.51 5.74 5.73 5.61 5.49 5.18 5.01 3.16 2.15 1.55 1.84 1.16 0.20 0.24 Micro & Payroll 13.55 12.51 12.56 12.65 12.01 11.26 11.42 1.69 3.05 2.58 2.78 2.69 2.36 1.70 Consumer 10.22 9.31 8.03 8.35 8.11 7.35 7.22 2.09 4.38 2.29 2.37 3.58 2.95 3.31 Total Bank-Only 87.32 79.15 78.86 77.58 77.66 78.46 78.03 1.31 2.31 1.91 1.21 0.63 0.62 0.53 Bank Syariah Indonesia a) 8.28 16.08 16.22 17.28 17.19 16.67 17.16 2.10 2.30 2.35 1.96 1.13 0.81 0.94 Mandiri Taspen 2.24 2.66 2.99 3.07 2.96 2.77 2.82 0.50 1.60 2.61 1.80 0.75 0.11 0.34 Mandiri Tunas Finance b) 1.88 1.85 1.73 1.87 2.01 1.96 1.77 2.60 4.30 3.68 1.94 2.04 2.72 5.07 Mandiri Utama Finance b) 0.51 0.50 0.55 0.55 0.69 0.83 0.85 3.40 3.80 4.19 4.68 6.42 4.48 5.81 Total Subsidiaries 12.91 21.09 21.48 22.76 22.85 22.23 22.58 1.90 2.50 2.54 2.00 1.30 1.02 1.39 Elimination (0.22) (0.24) (0.34) (0.34) (0.51) (0.69) (0.62) Total Consolidated 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1.40 2.47 2.05 1.44 0.85 0.79 0.77 36 | Provisioning by segments
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827 894 986 1,033 1,215 1,237 1,238 68.4% 66.0% 62.8% 61.2% 64.7% 64.4% 62.8% 12.2% 11.5% 11.0% 11.8% 11.6% 9.77% 10.2% Tier-2 Ratio CET1 Ratio (Equivalent to Tier -1 Ratio) RWA (Rp Tn) Leverage Ratiob) 60.0% 60.0% Notes: a) RWA Density = Total RWA divided by Total Asset b) Based on OJK Regulation No. 31/POJK.03/2019, Leverage Ratio = Tier 1 Capital divided by Total Exposure (On Balance Sheet Exposure + Derivatives Exposure + Securities Financing Transaction Exposure + Other Off-Balance Sheet Exposures) 60.0% 60.0% 60.0% 18.8% 18.5% 18.4% 20.3% 18.9% 16.1% 17.2% 1.09% 1.09% 1.10% 1.19% 1.18% 1.17% 1.17% 19.9% 19.6% 19.5% 21.5% 20.1% 17.3% 18.4% 8.29% 14.3% 19.6% 23.6% 21.4% 18.5% 18.8% 2020 2021 2022 2023 2024 1Q25 1H25 Capital Adequacy Ratio ROE – Average Equity Dividend Payout Ratio RWA Densitya) Capital Structure, Dividend Payout and Returns (Bank-Only) 37 | CAR and CET1 ratios are well above minimum requirement 78.0% REGULATORY REQUIREMENT 14.68% Normal Condition 2.50% Capital Conservation Buffer 2.50% Capital Surcharge on Systemic Bank 9.68% CAR based on Risk Profile 18.0 - 20.0% Internal Target for Bank-only CAR 78.0%
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Digital Innovations & Performance
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1,433 1,736 2,174 2,624 1,182 1,385 2021 2022 2023 2024 1H24 1H25 Livin’ Registered Users 33Mn ▲27% YoY Registered Users As of Jun-25 Livin’ Performance Highlights 2,115 2,326 2,582 2,815 3,069 3,311 3,548 3,879 4,136 4,329 2,649 2,847 3,063 3,261 3,460 3,643 3,855 4,026 4,175 4,225 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Trx Freq Trailing 4-Quarters (Mn) Trx Value Trailing 4-Quarters (Rp Tn) Livin' Fee-Based Income In Rp Bn Livin' Trx Value & Frequency YoY: 30.8% YoY: 16.0% Launched in Oct -21 General performance highlights 39 | YoY: 17.1%
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1,173 1,292 1,388 1,474 1,534 1,563 1,546 1,527 1,471 452 479 507 540 570 601 630 650 664 220 239 252 270 286 305 332 354 373 103 149 210 276 364 479 627 776 939 83 97 112 124 135 147 162 168 170 295 326 346 386 421 454 584 662 713 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Transfer Top Up & Purchase Payment QR Payment Others Financial Non-Financial 2,469 2,645 2,794 2,940 3,070 3,221 3,336 3,426 3,436 95 101 108 116 123 132 135 140 144 196 214 231 250 269 290 313 335 346 16 23 32 42 55 73 94 116 137 71 80 96 111 126 140 148 157 161 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Transfer Top Up & Purchase Payment QR Payment Others Financial % to Total 100% QoQQoQ YoY% to Total 8.62% 34.0% 15.3% 3.93% 21.7% 16.5% 100% Transaction Value Trailing 4-Quarters (In Rp Tn)Transaction Frequency Trailing 4-Quarters (In Mn) YoY 40 | Strong transactional growth generating solid transactional value growth 2,326 2,582 2,815 3,069 3,309 3,550 5.41% -3.70% 2.02% 1.50% 21.1% 7.74% 4.66% 30.8% -4.15% 16.4% 25.7% 158% 69.2% 30.8% 2,847 3,063 3,261 3,459 3,644 3,856 3.82% 3.23% 8.20% 3.40% 81.3% 1.20% 2.44% 18.2% 3.52% 2.56% 0.29% 15.9% 28.2% 147% 29.0% 16.6% 11.9% 3,880 4,025 4,138 4,174 4,331 4,224
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41 | Quality Livin’ users driving strong growth of fee generating transactions # of Users Registered in Livin' App (in Mn) Fee Income Generated by Livin' App (in Rp Bn) 9.67 15.6 22.5 29.0 25.9 32.9 FY21 FY22 FY23 FY24 1H24 1H25 1,535 1,737 2,174 2,624 1,403 1,774 FY21 FY22 FY23 FY24 1H24 1H25 % to total Consolidated Non-Interest Income Growth of Transaction Value in 1H25 (% YoY) Growth in # of Transaction Volume in 1H25 (% YoY) 25.6% 47.9% -0.71% Total # of Trx Fee Generating Non-Fee Generating 10.6% 21.8% -3.29% Total Trx Value Fee Generating Non-Fee Generatinga) b) a) b) Notes: a) Example of fee generating transactions: Payment (including QRIS), Powercash, e-Wallet Top-up, Interbank Transfers, Bond investment, etc. b) Example of non-fee generating transactions: Cardless withdrawal at ATM, E-money, Opening Accounts, Transfer Inhouse, etc. 4.76% 4.94% 5.35% 6.22% 7.22% 8.47%
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22.1% 23.1% 2Q24 2Q25 17.9 26.3 2Q24 2Q25 14.3 15.1 2Q24 2Q25 Notes: a) Digital Loans include multipurpose Loan (Digital Payroll Loan and Paylater) and CC Power Cash disbursed viaLivin’. b) Overall booking (digitally and non-digitally) of multipurpose Loan (Payroll Loan andPaylater) and CC Power Cash. ▲6.17% YoY 97bps YoY ▲47.5% YoY Digital Loans a) Booking via Livin’ (trailing 4-quarters) In Rp Tn % of Digital Loans Booking via Livin’ to Overall Booking b) (trailing 4-quarters) Avg. Daily New Account Openings via Livin’ in ‘000 Account Opening Per Working Day Steadily Growing our Digital Loans Booking Boosting New Acc. & Driving Saving Deposit Growth Beyond Industry Level Consistently supporting balance sheet growth through loans and deposits 42 | 0.79% 0.47% 0.46% 0.48% 0.50% 12.5% 12.5% 5.9% 13.4% 11.8% 6.60% 1.31% 0. 20% 0. 70% 1. 20% 1. 70% 2. 20% 2. 70% CoF Savings Deposit YTD (Bank-Only) BMRI Saving Deposit YoY (Bank-Only) Industry Saving Deposit YoY (Exc. BMRI Bank-Only) Savings Deposits Growth YoY (BMRI & Industry) vs. CoF Source: Indonesian Banking Statistics
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Instant and Manageable SolutionShop Now, Pay Later Leveraging Payroll Ecosystem by offering loans to eligible customers Offering extensive range of retail lending products Personal Loan Launched in Oct-21 43 | Easy and Efficient loan through both Credit Cards Loan Solutions CC Installment Launched in Oct-21 Cash Advance Launched in Dec-22 Quick and Flexible Solutions Mortgage Offerings Paylater Launched in Dec-23 Buy today and spread the payments over time Vehicle Financing Livin’ Mortgage Launched in Jun-24 Competitive Mortgage Solutions for easy Home Ownership Livin’ Auto Launched in Oct-24 Quick Financing for Vehicle Purchase with Flexible Loan Term Rp1 Bn Up To Indicative Personalized Limit Flexible Term of Tenure 50% Up To Of Credit Card Limit Starting from Rp1 Mn Easy Conversion of Transactions into Installments 36 Up To months Rp20 Mn Up To Indicative Personalized Limit Quick Loan Solution for Short- term Needs 30 minutes 500+ Rapid Approval of Loans for Mortgage Solution Leading Housing Developers in Indonesia Team up with Projects Partnering with Top Dealers in Livin’ Auto Personalized Offerings of Auto Solutions CATERING TO ALL CUSTOMER NEEDS From essential daily purchases to significant lifestyle investmentsSmaller ticket-size items Bigger ticket-size items
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Smart Investment Multicurrency Solutions & Seamless Cross-Border Transfer Tap to Pay Mutual Funds Launched in May-22 Stock Investment Launched in Oct-24 Invest mutual funds and bonds and Bring Investment Stocks to Livin’ Multicurrency account Launched in Aug-23 Seamlessly Open Accounts with various foreign currency options USD EUR SGD AUD GBP HKD CAD CNY THB INR 14 Currencies Available Transfer real-time to 18 countries with competitive rates and easily use QR payments abroad Cross-border Transfer Launched in Feb-23 QR Payment Cross Border Launched in Jan-24 Launched in Dec-23 Transact faster with no fuss by simply tapping smartphone to make contactless payment Make contactless payments worldwide! From paying for transport to buying food – simply with a tap! QR Payment Cross-border Available in 3 Countries Thailand Malaysia Singapore Smart Top-ups & Pre-Login Quick Financial Transaction with Pre-Login Features and Link e-wallets to set up auto top-ups E-Wallet Integration Some of our leading features (1/2) Smart Top-Up Launched in Oct-21 Pre-Login Launched in Oct-21 Cardless Withdrawal Top Up E-money QR Payment & Transfer Quick Pick Retail Investor Account Invest in Mutual Funds & Primary Bonds Integrated Portfolio with Mandiri Sekuritas (Growin) Automatic Monthly Investment Option 44 | SAR JPY MYR NZD
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Branch Reservation Livin’ Loyalty Skip the Queueing at Bank Mandiri branches a) using Branch Reservation Launched in Jun-22 Launched in Oct-24 1,909 241 Conventional Branches Sukha Beyond Banking lifestyle feature with engaging contents to drive purchase Pharmacy & Healthcare Golf Course Travel & Leisure Concert & Event Transportation Game Voucher Protection & Investment Charity & Donation Launched in Oct-23 Note: a) branches that provide for branch reservation via Livin' Some of our leading features (2/2) What’s Next for Livin’? 45 | Personalized and Engaging Experience A New Way of User Acquisition Livin’ Loyalty Monetizing Transactions Member-Get-MemberUtilizing Livin’ Points Rewarding Transactions More Transactions in Gaining Livin’ Points Livin’ Points Redemption Points can be exchanged for Offered Items at Livin’ Loyalty Level on Member Personalized profile display on Higher Tiering Member Monetizing Challenges For Transaction and Funding Growth Retail Lending Complete Financial Solutions Easy Approval via Digital Lending Indicative Personal Limit Flexible Tenors and Schemes Launched in Oct-24 Livin’ Auto Offering Complete Retail Solution through Digital Super App Launched in Jun-24 Livin’ Mortgage Digital Loan Offerings
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Empowering merchants: your mobile pos powerhouse at your fingertips Value Propositions for MSME Merchants 15 minutes onboarding Launched in Jun -23 3x Settlement Per Day 0% MDR for Merchants Modern & Complete Point-of-Sales Enriched Value Proposition Livin’ Merchant General Performance X 1.2x 1.8x 2.2x 2.7x 3.3x Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Transaction Value X 1.3x 2.0x 2.8x 2.9x 3.8x Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 ~2.8Mn As of Jun-25 Registered Merchants Livin’ Merchant App Transaction Volume Sector Solution F&B and Kiosk Card Pay ment Acceptance Distributor Ordering & Merchant Financing 46 |
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Upgraded to provide an enhanced customer experience 47 | Personalized Offerings Customizable To Client’s Needs with Comprehensive Dashboard & Payment Personalised Dashboard and Experience Optimized Collection & Liquidity Capabilities Customized Dashboard Personalized Payment Experience Optimized Fund Management Solution, Creating A Closed Loop Ecosystem with Collection & Liquidity Closed-Loop Collection Ecosystem Seamless Liquidity Setup Direct Virtual Account (VA) through KOPRA Self-Setup Directly through KOPRA SimplifiedVA Collection ReconciliationProcess Flexible Execution Time Up to 7 times a Day Quick Access to Cross- Border & Bank Report Insight with Cashflow Forecasting VariousTransaction Options Personalized Biller Tailored to Industry
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z Kopra Performance Highlights KOPRA Trx Value YTD KOPRA Fee Income In Rp Bn KOPRA Trx Frequency 996 1,035 1,084 1,127 1,178 1,244 1,312 1,356 1,399 Trx Freq Trailing 4-Quarters (Thousands) YoY: 18.7% 19,189 19,046 19,450 19,670 20,440 21,729 22,703 23,824 24,695 Trx Value Trailing 4-Quarters (Rp Tn) 1,857 2,038 2,201 2,406 1,151 1,150 2021 2022 2023 2024 1H24 1H25 General performance highlights Providing Comprehensive Wholesale Solutions, Covering Wide-range of Clients’ Needs Offering corporate treasurers cashflow & liquidity management with Cash & Treasury Solutions Enabling clients with working capital solutions through Trade Services & Supply Chain Financing Generate valuable insights and better risk management for corporate clients Bespoke Solutions catered to Industry-Specific demands across key sectors 48 | YoY: 20.8% YoY: -0.13%
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Subsidiaries Performance
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3,401 3,619 1,751 1,864 585 588 298 300 653 363 333 270 860 800 440 409 216 187 118 186 5,715 5,558 2,940 3,029 1H24 1H25 1H24 1H25 Bank Syariah Indonesia AXA Mandiri Financial Services Multi-Finance (MTF+MUF) Mandiri Taspen Others Net Profit After Tax ▼-2.76% YoY NPAT by Ownership b) Notes: All subsidiaries’ numbers are unaudited. a) Restatement on AMFS financial statement due to the implementation of PSAK 117/IFRS S1 b) Net Profit After Tax and Non-Controlling Interest c) As of 4Q24, Bank Mandiri’s ownership in Mandiri Utama Finance is increased from 51.00% to 99.99% d) As of 2Q24, Bank Mandiri’s ownership in Mandiri InHealth is reduced to 20% thus it is excluded in the Total Assets calculation Subsidiaries Net Profit Contribution to Mandiri Group (in Rp Bn)Subsidiaries Ownership Total Assets (in Rp Bn) Growth as % to Total2Q24 1Q25 2Q25 QoQ YoY Banking Bank Syariah Indonesia 51.47% 360,851 400,883 400,026 -0.21% 10.9% 69.8% Mandiri Taspen 51.10% 62,248 67,192 66,420 -1.15% 6.70% 11.6% Bank Mandiri Europe Limited 100.00% 3,705 3,963 4,378 10.5% 18.2% 0.76% Multi-Finance Mandiri Tunas Finance (MTF) 51.0% 34,045 33,621 30,915 -8.05% -9.19% 5.40% Mandiri Utama Finance (MUF) 99.99%c) 13,335 15,568 16,005 2.81% 20.0% 2.79% Insurance AXA Mandiri Financial Services 51.00% 41,605 41,616 43,782 5.21% 5.23% 7.64% Mandiri Inhealth 20.00%d) 3,993 - - - - - Securities, Venture Capital & Others Mandiri Sekuritas 99.99% 5,169 5,510 5,080 -7.82% -1.73% 0.89% Mandiri Capital 99.99% 5,760 6,037 6,151 1.89% 6.78% 1.07% Mandiri Remittance 100.00% 34 34 37 8.42% 9.83% 0.01% Total 530,744 574,425 572,793 -0.28% 7.92% 100% 50 | Subsidiaries performance summary ▲3.03% YoY a)
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FY23 FY24 YoY Growth 2Q24 1Q25 2Q25 QoQ Growth YoY Growth BALANCE SHEET (Rp Bn) Total Asset 353,624 408,613 15.6% 360,851 400,883 400,026 -0.21% 10.9% Financing 240,316 278,481 15.9% 257,388 287,218 293,237 2.10% 13.9% Total Deposit 293,776 327,454 11.5% 296,698 319,344 322,905 1.12% 8.83% Total Equity 38,739 45,236 16.8% 41,562 46,917 47,701 1.67% 14.8% INCOME STATEMENT (Rp Bn) Net Sharia Income 16,175 17,321 7.08% 4,115 4,380 4,457 1.76% 8.31% Fee Based Income 4,160 5,515 32.6% 1,223 1,711 1,621 -5.25% 32.5% Revenue 20,335 22,835 12.3% 5,338 6,090 6,078 -0.21% 13.9% Operating Expense 10,121 11,663 15.2% 2,555 2,960 3,067 3.61% 20.0% PPOP 10,214 11,172 9.38% 2,783 3,130 3,011 -3.82% 8.17% Net Profit 5,704 7,006 22.8% 1,694 1,879 1,740 -7.37% 2.73% PROFITABILITY Net Margin 5.82% 5.63% -0.19pts 5.51% 5.31% 5.37% 0.06pts -0.14pts CoC 1.14% 0.83% -0.31pts 1.00% 0.93% 0.95% 0.02pts -0.05pts CIR 49.9% 50.9% 1.05pts 47.8% 48.6% 49.7% 1.11pts 1.88pts ROA 2.34% 2.49% 0.15pts 2.50% 2.43% 2.35% -0.08pts -0.15pts ROE 16.9% 17.8% 0.87pts 17.9% 17.6% 16.7% -0.89pts -1.20pts FUNDING, LIQUIDITY & CAPITAL CASA Ratio 60.6% 60.1% -0.44pts 62.1% 61.0% 61.8% 0.82pts -0.28pts FDR 81.7% 85.0% 3.24pts 86.7% 89.9% 90.7% 0.88pts 4.05pts CAR 21.0% 21.5% 0.47pts 21.3% 21.4% 21.5% 0.07pts 0.16pts ASSET QUALITY NPF ratio 2.08% 1.90% -0.18pts 2.00% 1.88% 1.87% 0.00pts -0.13pts NPF Coverage 194% 195% 0.66pts 195% 195% 191% -3.19pts -3.40pts Key Financial Metrics 107 123 139 131 145 37.6 42.3 49.3 45.0 49.6 57.2 67.5 77.2 72.8 81.5 5.93 7.20 12.8 8.97 16.9 208 240 278 258 293 - 50 100 150 200 250 300 2022 2023 2024 1H24 1H25 Consumer Micro & SME Wholesale Pawning Strong Sharia Consumer Franchise, Financing Mix (Rp Tn) Total Financing YoY : 13.8% Wholesale YoY : 11.9% Micro & SME YoY : 10.2% Consumer YoY : 10.9% Pawning YoY : 88.2% 1,039 Branch Network Across Indonesia ~8.4 Mn Mobile Banking Users ~22 Mn Customer Based 51 | Bank Syariah Indonesia Note: As of 19 September 2025, the latest figures for June 2025 numbers remain unaudited.
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4 FY23 FY24 YoY Growth 2Q24 1Q25 2Q25 QoQ Growth YoY Growth BALANCE SHEET (Rp Bn) Total Asset 60,542 66,232 9.40% 62,248 67,192 66,420 -1.15% 6.70% Loan 41,351 46,261 11.9% 43,596 47,188 47,911 1.53% 9.90% Total Deposit 44,977 48,825 8.56% 45,383 49,595 49,886 0.59% 9.92% Total Equity 6,416 7,788 21.3% 7,193 8,224 8,667 5.38% 20.5% INCOME STATEMENT (Rp Bn) Net Interest Income 3,387 3,442 1.60% 825 885 892 0.69% 8.06% Non-Interest Income 385 421 9.44% 74 130 69 -47.3% -7.42% Revenue 3,772 3,863 2.40% 899 1,015 960 -5.45% 6.79% Operating Expense 1,648 1,764 7.01% 402 432 431 -0.33% 7.21% PPOP 2,124 2,099 -1.18% 497 583 529 -9.24% 6.45% Net Profit 1,409 1,578 11.9% 375 436 365 -16.2% -2.62% PROFITABILITY NIM 6.10% 5.56% -0.54pts 5.42% 5.44% 5.41% -0.03pts -0.01pts CoC 0.75% 0.11% -0.64pts 0.20% 0.19% 0.35% 0.16pts 0.15pts CIR 43.7% 45.7% 1.97pts 40.0% 42.6% 43.7% 1.12pts 3.71pts ROA 3.27% 3.26% 0.01pts 3.41% 3.37% 3.08% -0.29pts -0.33pts ROE 25.2% 22.9% -2.31pts 24.9% 22.3% 20.0% -2.34pts -4.90pts FUNDING, LIQUIDITY & CAPITAL CASA Ratio 21.1% 23.3% 2.21pts 21.9% 21.1% 21.9% 0.83pts -0.04pts LFR 89.1% 93.1% 3.99pts 93.8% 93.5% 94.4% 0.92pts 0.60pts CAR 24.9% 27.4% 2.52pts 26.3% 27.9% 29.3% 1.39pts 2.93pts ASSET QUALITY NPL Ratio 0.44% 0.38% -0.06pts 0.36% 0.47% 0.52% 0.05pts 0.15pts NPL Coverage 225% 175% -49.2pts 26 7% 151% 140% -11.7pts -128pts 36.4 40.9 45.7 43.1 47.4 0.54 0.44 0.55 0.45 0.52 36.9 41.4 46.3 43.6 47.9 - 5. 0 10. 0 15. 0 20. 0 25. 0 30. 0 35. 0 40. 0 45. 0 50. 0 2022 2023 2024 1H24 1H25 Pension Loan Other Retail Key Financial Metrics Focusing on Growth of Retiree Segment Solutions, Loan Mix (Rp Tn) Total Loan YoY : 10.0% Other Retail YoY : 15.6% Pension Loan YoY : 10.0% ~1.28 Mn Customer Based 291 Branch Network Across Indonesia ~570,000 “Payroll Based” Retiree 52 | Bank Mandiri Taspen
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Key Financial Metrics FY23 FY24 YoY Growth 2Q24 1Q25 2Q25 QoQ Growth YoY Growth BALANCE SHEET (Rp Bn) Total Asset 29,727 34,425 15.9% 34,045 33,621 30,915 -8.05% -9.19% Loan 53,061 60,643 14.3% 57,365 59,376 56,303 -5.18% -1.85% % to Mandiri Loans (%) 3.80% 3.63% -0.17pts 3.74% 3.55% 3.31% -0.24pts -0.43pts Total Equity 4,029 4,864 20.7% 4,526 5,016 5,060 0.89% 11.8% INCOME STATEMENT (Rp Bn) Net Interest Income 2,144 2,219 3.49% 500 480 454 -5.45% -9.17% Non-Interest Income 1,007 1,452 44.2% 273 356 272 -23.7% -0.43% Revenue 3,151 3,671 16.5% 773 837 726 -13.2% -6.08% Operating Expense 1,143 1,183 3.51% 310 283 238 -16.0% -23.3% PPOP 2,008 2,488 23.9% 463 553 488 -11.8% 5.45% Net Profit 1,161 1,172 0.92% 229 145 45 -68.9% -80.2% % to Mandiri NPAT (%) 2.11% 2.10% -0.01pts 1.65% 1.10% 0.40% -0.70pts -1.25pts PROFITABILITY AR Loss Ratio 2.71% 3.32% 0.61pts 2.97% 3.70% 3.07% -0.63pts 0.10pts NIM 4.41% 3.87% -0.54pts 3.71% 3.26% 3.20% -0.06pts -0.51pts CoC 2.04% 3.09% 1.05pts 2.07% 4.52% 5.05% 0.53pts 2.98pts CIR 36.3% 32.2% -4.07pts 39.0% 33.9% 33.4% -0.51pts -5.60pts ROA 5.66% 4.55% -1.11pts 4.13% 2.20% 1.48% -0.72pts -2.65pts ROE 33.1% 26.6% -6.49pts 23.6% 11.7% 7.65% -4.10pts -15.9pts CAPITAL & ASSET QUALITY DER a) 5.90x 5.79x -0.11x 6.07x 5.48x 4.92x -10.3x -19.0x NPL ratio 0.81% 1.13% 0.32pts 0.95% 1.31% 1.80% 0.49pts 0.85pts NPL Coverage 213% 172% -40.3pts 209% 117% 110% -7.23pts -99.2pts Strong New Car Financing Franchise, Disbursement Mix (Rp Tn) Note : a) Regulatory DER (Debt to Equity Ratio) maximum at10x 53 | Mandiri Tunas Finance 20.2 24.2 24.1 12.8 6.37 7.55 8.52 10.9 4.77 3.86 27.8 32.7 35.1 17.6 10.2 - 5. 0 10. 0 15. 0 20. 0 25. 0 30. 0 35. 0 40. 0 2022 2023 2024 1H24 1H25 New Car Multiguna & Used Car Total Disbursement YoY : -41.8% Multiguna & Used Car YoY : -19.1% New Car YoY : -50.2% 321,791 Customer Based 260,175 Unit of New Car Financed
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FY23 FY24 YoY Growth 2Q24 1Q25 2Q25 QoQ Growth YoY Growth BALANCE SHEET (Rp Bn) Total Asset 10,629 15,050 41.6% 13,335 15,568 16,005 2.81% 20.0% Loan 30,822 35,111 13.9% 33,355 36,217 37,017 2.21% 11.0% % to Mandiri Loans (%) 2.20% 2.10% -0.10pts 2.18% 2.17% 2.18% 0.01pts 0.00pts Total Equity 1,387 1,481 6.78% 1,535 1,563 1,653 5.82% 7.72% INCOME STATEMENT (Rp Bn) Net Interest Income 2,460 2,161 -12.2% 551 532 526 -1.03% -4.49% Non-Interest Income 283 930 228% 193 227 235 3.18% 21.5% Revenue 2,744 3,091 12.7% 744 759 761 0.23% 2.27% Operating Expense 1,549 1,774 14.5% 447 457 403 -11.8% -9.67% PPOP 1,195 1,317 10.3% 297 302 357 18.4% 20.2% Net Profit 527 300 -43.0% 73 82 91 11.5% 24.0% % to Mandiri NPAT (%) 0.96% 0.54% -0.42pts 0.53% 0.62% 0.81% 0.19pts 0.28pts PROFITABILITY AR Loss Ratio 5.28% 6.38% 1.10pts 5.49% 5.78% 6.14% 0.36pts 0.65pts NIM 7.55% 6.59% -0.96pts 6.87% 6.02% 5.91% -0.11pts -0.96pts CoC 6.63% 7.81% 1.18pts 6.87% 5.69% 6.25% 0.56pts -0.62pts CIR 56.4% 57.4% 0.98pts 61.4% 60.2% 56.6% -3.61pts -4.74pts ROA 7.33% 3.01% -4.32pts 3.20% 2.82% 2.90% 0.08pts -0.30pts ROE 45.0% 20.3% -24.7pts 20.1% 21.3% 21.9% 0.59pts 1.75pts CAPITAL & ASSET QUALITY DER a) 5.96x 8.56x 2.48x 7.21x 8.46x 8.22x -2.78x 14.0x NPL ratio 1.48% 1.33% -0.15pts 1.59% 1.41% 1.39% -0.02pts -0.20pts NPL Coverage 218% 228% 9.96pts 202% 217% 190% -26.7pts -11.6pts Key Financial Metrics Strong Auto Financing Franchise, Disbursement Mix (Rp Tn) Notes : a) Regulatory DER (Debt to Equity Ratio) maximum at10x 54 | Mandiri Utama Finance 7.38 9.16 11.6 8.00 9.20 6.70 7.49 6.67 5.40 5.60 2.21 2.53 2.27 1.90 1.20 1.60 1.53 1.11 1.00 0.60 17.9 20.7 21.6 16.3 16.6 - 5. 00 10. 00 15. 00 20. 00 25. 00 2022 2023 2024 1H24 1H25 New Car Used Car New Motorcycle Used Motorcycle ~237,498 Unit of Car Financed ~349,931 Unit of Motorcycle Financed ~587,429 Customer Based Total Disbursement b) YoY : 6.5% Used Car YoY : -9.7% New Car YoY : 30.5% Used Motorcycle YoY : -23.7% New Motorcycle YoY : -4.8% 246.462 Unit of Car Financed 293,411 Unit of Motorcycle Financed 539,873 Customer Based Total Disbursement b) YoY : 1.84% Used Car YoY : 3.70% New Car YoY : 15.0% Used Motorcycle YoY : -40.0% New Motorcycle YoY : -36.8%
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Key Financial Metrics FY23 FY24 YoY Growth 2Q24 1Q25 2Q25 QoQ Growth YoY Growth BALANCE SHEET (Rp Bn) Total Asset 4,434 3,733 -15.8% 5,169 5,510 5,080 -7.82% -1.73% Total Equity 1,999 1,661 -16.9% 1,852 1,719 1,798 4.59% -2.90% Adj. Net Working Capital (ANWC) 716 785 9.73% 626 821 813 -0.93% 29.9% Minimum ANWC a) 250 250 0.00% 250 250 250 0.00% 0.0% INCOME STATEMENT (Rp Bn) Revenue 985 988 4.97% 216 189 213 12.7% -1.13% Operating Expense 667 690 3.63% 149 168 161 -4.61% 7.52% Net Profit 288 278 -3.31% 43 37 93 152% 114% PROFITABILITY CIR 67.2% 70.1% 2.94pts 76.7% 79.6% 70.0% -9.62pts -6.78pts ROA 5.83% 4.94% -1.18pts 2.18% 2.15% 4.07% 1.93pts 1.89pts ROE 17.3% 14.7% -2.73pts 7.01% 6.61% 12.3% 5.68pts 5.28pts CAPITAL & ASSET QUALITY ANWC to Minimum ANWC 2.86x 3.14x 0.28x 2.50x 3.28x 3.25x -0.93x 29.9x Leading Brokerage & Advisory Services, Revenue Mix (Rp Tn) Notes: a) Regulatory ANWC is minimum at Rp 25 billion or 6.25% of total liability b) Investment Banking includes Equity, Fixed Income & Global Bond Underwirtting, Advisory, and MTN Arrangement c) Capital Market includes Brokerage on Equity Capital Market and Debt Capital Market 55 | Mandiri Sekuritas 0.73 0.70 0.65 0.30 0.32 0.56 0.28 0.34 0.09 0.08 1.29 0.98 0.99 0.38 0.40 2022 2023 2024 1H24 1H25 Capital Market Investment Banking Total Revenue YoY : 5.05% Investment Banking b) YoY : -9.93% Capital Market c) YoY : 9.51% ~Rp281 Tn Equity Trading Value ~ 838,000 Customer Based ~Rp59.3 Tn Asset Under Mgmt. (through Mandiri Manajemen Investasi)
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Key Financial Metrics Always Delivering Protection, Gross Written Premium Mix (Rp Tn) ~3.8 Mn Number of Policies ~1.9 K Financial Advisors Notes: As of 19 September 2025, the latest figures for June 2025 numbers remain unaudited. a) MER (Management Expense Ratio) defined as Management Expense divided by Full –Year Premium, Renewal Premium, and 10% of Single Premium b) CER (Cost Efficiency Ratio) defined as Total of Management & Acquisition Expense divided by Net Premium Investment & Fee Income c) RBC (Risk Based Capital) requirement by regulator is minimum at 120% 56 | AXA Mandiri Financial Services 2.16 2.42 2.68 1.33 1.43 10.3 9.51 9.42 4.18 3.05 12.5 11.9 12.1 5.51 4.49 - 2. 00 4. 00 6. 00 8. 00 10. 00 12. 00 14. 00 2022 2023 2024 1H24 1H25 P&H Premium Non P&H Premium Gross Written Premium YoY : -18.7% Non-P&H Premium YoY : -27.1% P&H Premium YoY : 7.86% 1H24 FY24 1Q25 1H25 YoY Growth BALANCE SHEET (Rp Bn) Total Asset 40,985 41,244 41,074 42,770 4.36% Total Equity 3,082 3,388 3,780 2,945 -4.45% INCOME STATEMENT (PSAK 117 Unaudited Rp Bn) Insurance Revenue 2,024 3,996 943 1,960 -3.16% Investment Income 278 592 168 350 25.9% Other Operating Income & Reinsurance 79 92 54 100 26.6% Total Income 2,382 4,680 1,165 2,410 1.18% Insurance Expense 1,427 2,931 664 1,461 2.38% Investment Expense (Unwinding of Discount Rate on Reserve) 214 434 164 306 42.9% Total Expense 1,641 3,364 828 1,767 7.68% Net Profit After Tax 585 1,035 279 588 0.51% PROFITABILITY Claim Ratio (Excluding No Claim Bonus) 9.5% 10.3% 10.6% 11.2% 1.70pts MER a) 14.4% 15.0% 12.7% 14.7% 0.30pts ROA 2.9% 2.5% 2.7% 2.8% -0.10pts ROE 37.9% 30.5% 29.6% 40.0% 2.10pts CAPITAL & QUALITY RBC c) 402.2% 553.6% 610.7% 438.2% 36.0pts
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Biggest Venture Capital Synergy… …& Strategic Gateaway Investment Value* (Rp Tn) (+6.16% YoY) Offshore Subsidiaries Total Assets (Rp Tn) (+18.0% YoY) BMEL: MIR: For Indonesian Related Business in UK Rp 4.38 Tn Total Asset For Indonesian Diaspora Transaction in MY Rp 37.0 Bn Total Asset MCI facilitates startups through XYZ program, fostering impactful businesses for society : 1.80 1.91 2Q24 2Q25 3.74 4.42 2Q24 2Q25 Business Matchmaking Networking and Collaboration Platform Accelerator Program 127 49 44 Business Deals Startups work with Bank Mandiri’s business unit Business Units work with startup 57 | Other subsidiaries *include Convertible Bonds Investment
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Environmental, Social & Governance
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Bank Mandiri's commitment to sustainability: demonstrating continuous progress Our Sustainability Journey “Becoming Indonesia’s Sustainability Champion for a Better Future” GOVERNANCE SUSTAINABLE BANKING SUSTAINABLE OPERATION SUSTAINABILITY BEYOND BANKING Leading Indonesia’s Transition to Low Carbon Economy Net Zero Emissions Operation by 2030 Catalyzing Multiple Growth for Social Impact to Achieve SDGs VISIONPILLARCOMMITMENTINITIATIVES Sustainable Products and Services ESG Integration in Business Process Carbon Neutral Initiatives Security & Data Protection Gender Equity Financial Inclusion Corporate Social Responsibility Framework to Integrate Sustainability Into Our Business & Operations • MSCI ESG Rating improved to BBB • Started testing climate risk for 50% of the portfolio • Taxonomy reporting for sustainable finance in the energy sector • Launched Green Mortgage and Livin’ Planet products • Issued Sustainable Finance and Transition Finance frameworks • First national bank to issue eco- friendly bank cards • Pioneer in implementing digital carbon tracking • Issued Phase 1 Green Bonds (Rp5 trillion) • Member of the Partnership for Carbon Accounting Financials • Establishment of Sustainability Vision and Commitment & ESG Group • Mitigation Action Project through land conservation and restoration • Credit policies for the palm oil and CPO, energy, coal, mining, and FMCG sectors • Indonesia’s first ESG Repo transaction valued at USD500 Mn • MSCI Rating improved to AA • Increased Finance Emission covering 56% of total loan portfolio • Launched Green Bond Phase II Rp5 Tn • Climate risk target to cover 100% of Bank-only loan portfolio 2024 2023 2022 2025 59 |
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Bank Mandiri’s Sustainable Financing (Rp Tn) 46% 54% Sustainability Bonds (2021) Green Bonds Social Bonds 71% 29% ESG Repo (2022) Green Repo Social Repo Bank Mandiri’s Sustainable Funding USD 300Mn USD 500Mn Bank Mandiri sustainable portfolio and innovative funding solutions 96 106 129 149 139 157.5 109 122 135 144 139 147205 228 264 293 278 304.5 2021 2022 2023 2024 2Q24 2Q25 Green Financing Social Financing Classification Based on POJK 51/2017 Rp110.2 Tn (8.3% of Total Loan) Rp12.8 Tn (1.0% of Total Loan) Rp13.3 Tn (1.0% of Total Loan) Rp9.2 Tn (0.7% of Total Loan) Rp5.2 Tn (0.4% of Total Loan) Sustainable Agriculture Renewable Energy Eco-Efficient Products Clean Transportation Sustainable Water Mgt Green Building Rp6.8 Tn (0.5% of Total Loan) ▲9.61% YoY 69% 31% Green Bonds Phase I (2023) Renewable Energy Sustainable Agriculture Rp 5Tn Rp 5Tn Issued Green Bonds Phase II (2025) Oversubscribed 2.55x 60 |
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Green Financing *Energy Sector Portfolio (Rp Tn) Fulfil the Environmental Impact Analysis (AMDAL) or engage in Environmental Management and Monitoring Efforts (UKL-UPL) in accordance with applicable laws and regulations. Have Environmental Management Certification and Occupational Health and Safety (OHS) Management Certification or other similar documents. For the construction of a new coal-fired power plant, consideration has been given to the appropriateness of the financing period in alignment with the government’s energy transition timeline. Have clear code of conduct environmental (carbon emission, coal ash, waste and water treatment management) and employment policies. Energy Sector Policy Total Palm Sector Portfolio (Rp Tn) Palm Sector Policy PROPER Assessment Results (ie. Company Performance Rating Assessment Program in Environmental Management) minimum blue. Have ISPO (Indonesia Sustainable Palm Oil) Certification or at least proof that ISPO certification is in progress. Have internal policies related to Zero-Deforestation and No Exploitation (NDPE), which include land clearing, preservation of High Conservation Value (HCV) areas. Have clear code of conduct environmental (carbon emission, coal ash, waste and water treatment management) and employment policies. Performance KUR & KUM Social Financing KUR Disbursement for Farmers & Fishermen Rp7.37Tn Agriculture Rp317 Bn Fishery Debtors 53%47% Rp43.3 Tn 577 K Debtors Rp53.7 Tn 654 K Debtors 6.0 7.4 10.6 14.0 10.7 14.3 27.1 31.5 34.2 35.9 28.2 39.4 513 602 687 685 537 654 2021 2022 2023 2024 2Q24 2Q25 KUM (Rp Tn) KUR (Rp Tn) The Number of Female Debtors ('000) 101,496 Mandiri Agents extends our distribution network throughout Indonesia Financing for Women through MSME Credit As of Jun-25 KUM & KUR Loan Disbursement (Rp Tn) 13.3 15.4 20.5 26.9 21.4 27.1 53.3 62.1 62.3 63.9 62.9 70.0 2021 2022 2023 2024 2Q24 2Q25 KUM KUR 70.6 69.0 79.2 86.7 86.5 87.1 8.3 8.7 9.0 9.2 9.3 8.5 8.3 10.8 12.7 14.8 13.7 16.587 88 101 111 110 112 2021 2022 2023 2024 2Q24 2Q25 Wholesale SME Micro 61 | 21 24 2Q24 2Q25 10 13 2Q24 2Q25 Non-Renewable Energy Renewable Energy 87% of the corporate palm oil portfolio is Sustainable Palm Oil (ISPO and/or RSPO certified). 66% of our social portfolio is disbursed for Micro segments (KUM & KUR) Navigating the future: progress in our sustainable portfolio *IPP Only
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0.40 0.40 0.52 0.62 0.90 0.92 1.00 1.01 1.22 1.52 2.23 Construction Cement Non-Ferrous Mining Coal Chemical &… Agriculture Iron & Steel FMCG Oil & Gas Livestock Power Generation Financed Emission by Sector (in Mn tCO2eq ) Total 19.4 Mn tCO2eq 56% of total portfolio 62 | Accelerating our efforts to a low carbon economy in operational and business Promoting Green Operational Business Practices First Bank in Indonesia to Implement Digital Carbon Tracking 31 Charging St. (▲ 82% YoY) 870 Solar Panel (▲ 20% YoY) 10.1 TonCO2eq carbon footprints reduced through Reverse Vending Machine 10 Green Offices (▲ 11% YoY) 3 Green Buildings GBCI certified Wisma Danantara Indjoko Surabaya* Mandiri Digital Tower* (▲ 200% YoY) https://esg.bankmandiri.co.id/ Financed Emission Calculation 76 61 64 43 43 47 283 254 250 260 253 192 359 315 314 303 296 239 2019 2020 2021 2022 2023 2024 Scope 1 (fuel) Scope 2 (electricity) …. Have Resulted in Emissions Reduction 4.6 4.2 4.2 4.1 3.9 3.2 Intensity of GHG per Employee (tCO2eq) Emission Reduction 33% from 2019 Intensity per Employee 30% from 2019 490 EV & Hybrid (▲ 250% YoY) 54% 100% 2024 2025 Completed a pilot climate risk stress testing (CRST), with a target to cover 100% of Bank-only loan portfolio by 2025 Climate Risk Stress Testing (CRST) Portfolio coverage (target) Portfolio coverage (realization)
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Boosting Equality Work Environment Promoting Inclusive Access to Finance for MSMEs in Non-Urban Areas Distribution of User Registered in non-urban Area ~1.72 Mn ( ▲62.3% YoY) Users in Non-Urban Area > Manager Level Total All Employee 46% employees at the manager level and above are woman 52% female out of total employee Bank Mandiri’s Gender Diversity Counseling Session is a program that collaborates with professional psychologists to assist female employees in addressing issues related to their emotional, mental, and physical well-being Respectful Workplace Policy (RWP) ensures a safe and respectful work environment for all employees, monitored by Mandiri Bank's Board and reported biannually to the BUMN Minister, with no incidents of discrimination . Our Facilities 190k 159k 179k 168k 224k 224k 124k 180k 43k 225k Social performance highlights - empowering communities through financial inclusion 63 | 15,549 MSMEs Rumah BUMN empower and upscale MSMEs through training, co -working spaces, and disaster response units, 12,922 farmers Rice Milling Unit boost inclusivity and local farmer welfare by building integrated rice processing centers to improve farmer livelihoods and reduce poverty. 21,074 PMIs Mandiri Sahabatku is an entrepreneurship training for Indonesian Migrant Workers (PMI) and their families, empowering them to become independent entrepreneurs upon returning home. 100 Individual with disabilities Mandiri Sahabat Difabel is our initiative to empower persons with disabilities through financial literacy, training, and inclusive support. Empowering Digipreneurship in Society
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One of the top performers in corporate governance perception index (CGPI) *) From previous rating of 95.22 CGPI Assessment ESG Governance Score 95.30 Achieved the “Best Overall” category from the Indonesian Institute for Corporate Directorship (IICD) GCG Award 2023 Performing Security Operation Center (SOC) 24x7 detection and monitoring of IT and cyber security systems. The application of Cyber Threat Intelligence with the latest cyber security attack tactics. Implementation of Vendor Security Assessment for third parties collaborating with the Bank Strengthening Governance Bank Mandiri Cyber Resilience Framework Cyber Resilience Enabler Implementing a multilayer Defense Mechanism supported by the latest security technology Penetration test through regular hacking simulations are conducted to ensure optimal security measures Managing User Access Management that are integrated with the Bank's network Increasing Security awareness among all stakeholders about the importance of IT and cyber security Ensuring alignment and compliance with Security Policy Ensuring the adequacy and capability of Organization Structure & Personnel related to IT and cyber security • ISO 9001:2015 Certified for quality management systems (Mandiri Contact Center Department) • ISO 27001 Certified for Provision of Infrastructure and Operational Data Center and Disaster Recovery Center • ISO 27001 Certified for Provision of application development and IT operation related to Livin' by Mandiri • ISO 27001 Certified for Security operation center to manage cybersecurity threats in banking system & cyber operations • ISO/IEC 17025 Accreditation for Digital Forensic Laboratory Establishment of the ESG Group as the ‘control tower’ for the implementation of ESG at Bank Mandiri ESG Governance Oversight by the Board of Commissioners and Directors, directly supervised by the Vice President Director Privacy Policy for Bank Mandiri products and all Subsidiaries. Whistleblowing System - Letter to CEO (WBS- LTC) managed by an independent external party. Governance Score 64 | Strengthening corporate governance, capacity development & disclosure Protection Governance & Awareness Operation Protection Governance & Awareness
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Bank Mandiri raised exceptional ESG rating improvements through extensive efforts Driving Factors ESG Integration – Financials Product Governance Data Privacy and Cybersecurity Business Ethics MSCI ESG Rating has been Upgraded to AA Sustainalytics ESG Rating has been improved to Low Risk (17.5) BB 2020 2022 AA ESG Rating History Overall increases are driven by: 2024 Strengthening Credit Policies Increasing in Corporate Behavior Score due to disclosure of audit ethics Zero Data Breach Reinforcing Strong Data Security Increasing in Loan to MSMEs Extending Grievance Escalation/Reporting BBBB BBBBBB 2021 2023 BBB 2025 ESG Risk Rating History High Risk Low RiskMedium Risk -10.7 points from last full update (2023) 30.06 29.74 29.28 28.18 28.45 17.5 2019 2020 2021 2023 2024 2025 Updated per Jan-25 65 | Updated per May-25
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Appendix
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QTD Interest Income Breakdown (Rp Tn) QTD Interest Expense Breakdown (Rp Tn) Interest income & interest expense breakdown Break down 66.1% 8.52% 4.02% 100% YoY 14.7% -6.01% -0.55% 14.3% QoQ 4.24% 0.37% 5.86% -2.78% 15.6% 25.6%12.5% Break down 38.9% 8.28% 29.4% 13.3% 100% YoY 38.0% 8.09% 31.2% 30.5% 27.8% QoQ 11.3% -5.12% -0.19% 6.73% 4.48% 9.75% 9.34%20.6% * Consumer Financing is financing from BMRI’s multi-finance subsidiaries (MTF & MUF) 4.25 4.41 5.04 5.27 5.87 3.37 3.85 3.94 4.24 4.43 1.54 1.67 1.78 2.01 2.00 1.34 1.36 1.37 1.22 1.47 1.15 1.20 1.23 1.32 1.25 0.40 0.09 0.07 0.06 11.8 12.9 13.4 14.1 15.1 1.0 0 3.0 0 5.0 0 7.0 0 9.0 0 11 .00 13 .00 15 .00 17 .00 2Q24 3Q24 4Q24 1Q25 2Q25 Time Deposit Current Account Borrowings Securities Issued Savings Others 24.2 25.6 27.2 26.6 27.7 5.22 5.41 5.81 5.83 6.56 3.80 3.77 3.67 3.56 3.58 1.70 1.84 1.89 1.74 1.69 0.64 0.64 0.86 0.78 1.09 0.93 0.92 0.94 0.92 1.08 0.24 0.22 0.21 0.21 0.23 36.7 38.4 40.6 39.6 42.0 2Q24 3Q24 4Q24 1Q25 2Q25 Loans Syariah Financing Government Bonds Consumer Financing* Marketable Securities Placement at BI and Other Banks Others 2.61% 71.3%40.1% 2.58% 16.8%18.2% 0.55% -2.45%11.2% 0.37% -57.8%-20.5% 67 |
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Recoveries and written-off loan – historical data Recoveries and Written-Off Loans – Bank-Only 0.55 0.57 0.69 0.97 1.07 0.95 0.84 1.64 2.67 1.49 1.69 0.65 0.65 0.89 1.01 0.85 0.57 1.21 1.02 1.46 1.53 1.40 0.75 0.83 0.97 1.02 1.24 0.95 1.03 1.99 1.55 1.96 - 1.09 1.14 1.20 2.08 1.59 1.21 1.62 1.68 4.46 1.80 - 3.04 3.19 3.74 5.07 4.75 3.69 4.70 6.34 10.1 6.79 3.09 1Q 2Q 3Q 4Q 0.95 2.23 3.22 5.40 3.24 2.81 3.22 2.49 3.40 3.59 1.61 1.75 1.99 2.55 2.76 2.01 3.34 4.06 4.06 3.83 3.78 1.20 1.72 1.83 2.14 2.72 2.16 1.74 2.65 3.52 5.38 2.12 1.57 5.36 3.67 2.34 3.44 1.76 2.98 4.21 5.26 1.60 5.99 11.4 11.6 13.2 10.8 9.65 12.9 14.3 17.9 11.1 2.81 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Recoveries of Written- Off Loans Written-Off Loans Note: All figures in the chart are in Rupiah Trillion amount Recovery Rate 50.7% 28.0% 32.3% 38.3% 43.8% 38.3% 36.5% 44.4% 56.7% 61.2% 110% 68 |
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- - - - - 3,804 3,773 3,669 3,562 3,575 3, 000 3, 200 3, 400 3, 600 3, 800 4, 000 4, 200 2Q24 3Q24 4Q24 1Q25 2Q25 FVOCI + AC Maturity (Rp Bn) FVTPL Portfolio FVOCI AC TOTAL (MTM + AC)Nominal MTM Nominal MTM Fixed Rate Bonds < 1 year 1,645 1,660 7,797 7,700 35,373 44,733 1 - 5 year 13,128 13,362 27,555 28,259 51,552 93,173 5 - 10 year 5,214 5,260 39,123 39,255 50,681 95,196 > 10 year 6,989 6,999 11,815 11,703 31,788 50,490 Total 26,976 27,281 86,290 86,918 169,394 283,593 Variable Rate Bonds < 1 year - - - - - - 1 - 5 year - - - - - - 5 - 10 year - - - - - - > 10 year - - - - - - Sub Total - - - - - - T o t a l 26,976 27,281 86,290 86,918 169,394 283,593 Notes: FVTPL : Fair Value to Profit & Loss FVOCI : Fair Value to Other Comprehensive Income AC : Amortized Cost Government Bond Portfolio by Type and Maturity QTD Interest Income from Gov’t Bonds QTD Non-Interest Income (Realized Gains/Losses) from Gov’t Bonds 7.69 13.7 77.2 12.6 5.84 309 537 372 707 789 317 551 449 720 794 0 10 0 20 0 30 0 40 0 50 0 60 0 70 0 80 0 90 0 2Q24 3Q24 4Q24 1Q25 2Q25 FVOCI + AC FVTPL Government bond portfolio (Rp 284 Tn as of June 2025) Rp Bn 69 |
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STANDARD & POOR’S 2020 2021 2022 2023 2024 1H25 Outlook BBB-/Neg-/A-3 BBB-/Neg-/A-3 BBB-/Neg-/A-3 BBB/Stable/A-3 BBB/Stable/A-2 BBB/Stable/A-2 MOODY’S 2020 2021 2022 2023 2024 1H25 Outlook STABLE STABLE STABLE STABLE STABLE STABLE LT Counterparty Risk Rating Baa2 Baa2 Baa2 Baa2 Baa1 Baa1 LT Debt Baa2 Baa2 Baa2 Baa2 Baa2 Baa2 LT Deposit Baa2 Baa2 Baa2 Baa2 Baa2 Baa2 PEFINDO 2020 2021 2022 2023 2024 1H25 Corporate Rating STABLE STABLE STABLE STABLE STABLE STABLE LT General Obligation idAAA idAAA idAAA idAAA idAAA idAAA FITCH RATING 2020 2021 2022 2023 2024 1H25 Outlook STABLE STABLE STABLE STABLE STABLE STABLE International LT Rating BBB- BBB- BBB- BBB- BBB BBB International ST Rating F3 F3 F3 F3 F2 F2 National LT Rating AA+(idn) AA+(idn) AA+(idn) AA+(idn) AAA(idn) AAA(idn) National ST Rating F1+(idn) F1+(idn) F1+(idn) F1+(idn) F1+(idn) F1+(idn) Viability Rating bb+ bb+ bb+ bbb- bbb- bbb- Government Support bbb- bbb- bbb bbb Bank Mandiri historical credit ratings 70 |
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Shares Buyback • Estimated Cost: Rp 1.17 Tn • Period: 26 Mar’25 – 25 Mar’26 1998 Bank Mandiri Establishment Subsidiaries Mandiri Sekuritas acquisition Subsidiaries Bank Mandiri Europe Ltd. acquisition 1999 2000 2003 Bank Mandiri IPO Subsidiaries AXA Mandiri Financial Services establishment 2004 Subsidiaries Mandiri Manajemen Investasi establishment 2008 Subsidiaries Mandiri Taspen acquisition 2009 Bonds Issuance Rupiah Subordinated Bonds I: Rp 3.5 Tn Subsidiaries Mandiri Tunas Finance & Mandiri Remittance establishment Rights Issue • # of Shares: 2.34 Bn • Amount: Rp 11.7 Tn Subsidiaries Mandiri AXA General Insurance acquisition 2011 2021 2020 2019 2018 2017 2016 2015 2014 Subsidiaries Mandiri InHealth acquisition Bonds Issuance Negotiable Certificates of Deposit (NCD) I : Rp 2.6 Tn Bonds Issuance • Negotiable Certificates of Deposit (NCD) II : Rp 2.7 Tn • Sustainable Bonds I Phase I: Rp 5 Tn Securities Issuance Asset-Backed Securities (EBA - SP) Class A: Rp 457 Bn Bonds Issuance Sustainable Bonds I Phase II: Rp 6 Tn Stock Split • Ratio: 1:2 • Result: 46 Bn shares Bonds Issuance Sustainable Bonds I Phase III: Rp 3 Tn MTN Issuance Medium Term Notes Subordinated I 2018: Rp 500 Bn MTN Issuance Euro Medium Term Notes 2019: USD 750 Mn Bonds Issuance Sustainable Bonds II Phase I: Rp 5 Tn MTN Issuance Euro Medium Term Notes 2020: USD 500 Mn Subsidiaries Mandiri Utama Finance & Mandiri Capital Indonesia establishment 2022 2023 2024 Bonds Issuance Euro Medium Term Notes / Sustainability Bond 2021 : USD 300 Mn Subsidiaries Bank Syariah Indonesia merger Issuance Repo ESG Repurchase Agreement (Repo) : USD500Mn MTN Issuance Euro Medium Term Notes IV 2023 : USD300 Mn Bonds Issuance Green Bond 2023: Rp 5 Tn Subsidiaries Mandiri AXA General Insurance divestment Stock Split • Ratio: 1:2 • Result: 93Bn shares Subsidiaries • Mandiri InHealth partial divestment • Mandiri Utama Finance incremental ownership Bank Mandiri Key Corporate Actions Bank Mandiri historical corporate actions 71 | 2025 Transfer of Ownership From Government of RI to PT Biro Klasifikasi Indonesia Bonds Issuance Green Bond 2025: USD800 Mn
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Office & Networks Branches: 2,159 Conventional Branches 1,900 Smart Branches 241 Other Outlets 18 Overseas Offices 7 # of Employees 38,556 As of Jun-25 Hongkong Branch Cayman Island Branch Shanghai Branch Singapore Branch Dili Branch Region I/ Sumatera 1 Region II/ Sumatera 2 Region III/ Jakarta 1 Region IV/ Jakarta 2 Region V/ Jakarta 3 Region VI/ Jawa 1 Region VII/ Jawa 2 Region VIII/ Jawa 3 Region IX/ Kalimantan Region X/ Sulawesi & Maluku Region XI/ Bali & Nusa Tenggara Region XII/ Papua E-Channel & Digital Coverage No. of Customers & Accounts Cards Subsidiaries Coverage # of Customers # of Deposit Accounts # of Loan Accounts # of Payroll Accounts 31.8mn Cards 69.3mn YTD Trx Rp34.3Tn YTD Trx Value 2.25mn Cards 47.2mn YTD Trx Rp35.0Tn YTD Trx Value 8.69mn Active Cards 5.06mn Active e-Money 36.9mn 43.9mn 5.15mn 5.34mn 12,971 ATMs 307,332 EDCs 32.5mn Debit Cards Credit Cards Prepaid Cards Livin’ Livin’ Merchant 16,048 Active EDCs Bank Syariah Indonesia 5,499 ATMs 1,039 branches Bank Mandiri Taspen 291 branches Network coverage of Bank Mandiri’s group User Registered 2.76mn User Registered 72 | Mandiri International Remittance Office Bank Mandiri Europe Limited Office
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FMCG, 8.70% Palm Plantation & CPO, 8.44% Transportation Services, 7.47% Construction, 6.84% Government, 6.81% Mining, 4.80% Coal, 4.75% Energy & Water, 4.60% Financial Services, 3.81% Property, 2.98% Oil & Gas, 2.89% Telco, 2.88% Business Services, 1.79% Pulp & Paper, 1.60% Agriculture, 1.55% Others, 12.7% Consumption , 17.4% No Top 15 Sectors O/S (Rp Tn) % to Total Loan (%) NPL Ratio (%) 1 FMCG 115.5 8.70% 0.35% 2 Palm Plantation & CPO 112.1 8.44% 0.12% 3 Transportation Services 99.2 7.47% 0.13% 4 Construction 90.8 6.84% 0.19% 5 Government 90.4 6.81% 0.00% 6 Mining 63.7 4.80% 2.39% 7 Coal 63.0 4.75% 0.00% 8 Energy & Water 61.1 4.60% 0.00% 9 Financial Services 50.5 3.81% 0.04% 10 Property 39.6 2.98% 0.02% 11 Oil & Gas 38.4 2.89% 0.27% 12 Telco 38.2 2.88% 0.06% 13 Business Services 23.8 1.79% 0.77% 14 Pulp & Paper 21.2 1.60% 0.00% 15 Agriculture 20.5 1.55% 1.13% Total of Top 15 Sectors 928 69.9% 0.32% Total Loans (Bank -Only) 1,328 100% 1.08% T op 15 sectors consist of prospective and neutral sectors with low NPL ratios Bank-Only, As of Jun-25 As of Jun-25 % to T otal Bank- Only Loan Rp1,328Tn Loan portfolio by industry sectors, June 2025 73 |
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3 4 5 Current 90+ Days Household Equipment Trading Manufacturing Agriculture F&B & Accommodation Business Services Professional Services Others Rp Consumption Working Capital Gov't Programme Investment Micro & Payroll Consumer Commercial SME Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Int. Aging* Sector Currency Purpose Segment Restructured The downgrade to Non-Performing Loan in 2Q 2025 totaled Rp3,496Bn. Of these loans: • 56.1% were in Collectability 4 (Doubtful) • 91.7% were Current on interest payment • Top 3 downgraded sectors: • Household Equipment, • Trading, • Manufacturing. • 100% were Rupiah loan • 73.0% were loan for Consumption • 52.4% came from Micro & Payroll segment • 23.0% had been restructured * Excludes Micro and Consumer segments Loan Profile: Downgrade to NPL (Rp3,496Bn) Bank Only 2Q25 Loan detail: downgrades to NPL 74 |
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NPLs totaled Rp14,202Bn. Of these NPLs in 2Q 2025: • 74.1% were in Collectability 5 (Loss) • 60.1% were Current on interest payments. • The top 3 sectors were: • Household Equipment, • Manufacturing, • Mining. • 90.1% were Rupiah loan • 46.1% were loan for Consumption, 24.7% were Working Capital loan, and 24.0% were Investment loan. • 35.7% were from Micro & Payroll segment • 51.6% had been restructured 5 4 3 Current 90+ Days 15-30 Days Household Equipment Manufacturing Mining Trading Agriculture F&B & Accommodation Transportation & Warehousing Others Rp Fx Consumption Working Capital Investment Gov't Programme Export Micro & Payroll Commercial Consumer Corporate SME Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Int. Aging* Sector Currency Purpose Segment Restructured * Excludes Micro and Consumer segments Loan Profile: Non-Performing Loan (Rp14,202Bn) Bank Only 2Q25 Loan detail: non-performing loans 75 |
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The downgrade loan to Category 2 in 2Q 2025 totaled Rp7,493Bn. Of this loan: Micro & Payroll Consumer Corporate SME Commercial 15-30 Days Current 31-60 Days 1-6 Days 61-90 Days 7-14 Days Household Equipment Trading Construction Agriculture ManufacturingF&B & Accommodation Business Services Rental Services Others Rp Consumption Working Capital Gov't Programme Investment Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Segment Days Aging* Sector Currency Purpose Restructured • 43.9% were from Micro & Payroll segment • 28.4% were 15-30 days delayed on interest payment • Primary sectors downgraded were: • Household Equipment, • Trading, • Construction. • 100% were Rupiah loan • 65.7% were loan for Consumption purpose • Only 20.8% were restructured * Excludes Micro and Consumer segments Loan Profile: Downgrade to Cat. 2 (Rp7,493Bn) Bank Only 2Q25 Loan detail: downgrades to category 2 76 |
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Rp45,467Bn loan were in Special Mention Loan in 2Q 2025. Of these Special Mention Loan: • 43.3% were to Corporate Segment, 25.8% were to Commercial Segment • 61.7% of the Special Mention Loan (Category 2) were still Current on payment • Top 3 sectors in Category 2 were: • Manufacturing, • Construction, and • Household Equipment. • 76.0% were Rupiah loan • 39.3% were Working Capital loan and 27.0% were Investment loan • 78.8% were restructured Corporate Commercial Consumer Micro & Payroll SME Current 31-60 Days 15-30 Days 1-6 Days 61-90 Days 7-14 Days Manufacturing Construction Household Equipment Utilities Trading Real Estate Transportation & Warehousing F&B & Accommodation Agriculture Business ServicesOthers Rp Fx Working Capital Investment Consumption Syndicated Gov't Programme Employee Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Segment Days Aging* Sector Currency Purpose Restructured * Excludes Micro and Consumer segments Loan Profile: Category 2 Loan (Rp45,467Bn) Bank Only 2Q25 Loan detail: category 2 loan 77 |
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Rp588Bn of loan were upgraded to PL in 2Q 2025. Of this loan: • 54.6% were coming from Micro & Payroll segment • Largest upgrades by sector: • Household Equipment, • Trading, • Agriculture. • 100% were Rupiah loan • 73.8% were loans for Consumption purpose; 11.2% were for Working Capital. • 57.1% were restructured loan 2 1 Micro & Payroll Consumer SME Household Equipment Trading Agriculture F&B & Accommodation ManufacturingBusiness Services Rp Consumption Gov't Programme Working Capital Investment Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Segment Sector Currency Purpose Restructured Loan Profile: Upgrade to PL (Rp588Bn) Bank Only 2Q25 Loan detail: upgrade to PL 78 |
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Rp1,312,743Bn in bank-only loan were performing in 2Q 2025. Of this performing loan: • 96.5% were in Collectability 1 (Current) • 46.8% were from Corporate segment, 23.3% were from Commercial segment • Primary sectors are: • Household Equipment, • Manufacturing, • Mining. • 78.4% were Rupiah loan • 40.1% were Investment loan; 26.5% were Working Capital loan • Only 5.32% were restructured 1 2 Corporate Commercial Micro & Payroll Consumer SME Household Equipment Manufacturing Mining Agriculture Trading Transportation & Warehousing Construction Financial Services Government Utilities Real Estate Business Services IT & Telco F&B & Accommodation HealthcareOthers Rp Fx Investment Working Capital Consumption Syndicated Gov't Programme Export Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Segment Sector Currency Purpose Restructured Loan Profile: Performing Loan (Rp1,312,743Bn) Bank Only 2Q25 Loan detail: performing loan 79 |
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Rp1,042,089Bn in loan were Rupiah denominated in 2Q 2025. Of this Rupiah Loan: 1 2 4 5 Current 7-14 Days 31-60 Days61-90 Days 15-30 Days90+ Days Household Equipment Agriculture Manufacturing Trading Construction Financial Services Mining Transportation & Warehousing Real Estate IT & Telco Business Services F&B & AccommodationHealthcareRental ServicesUtilities Others Corporate Commmercial Micro & Payroll Consumer SME Investment Working Capital Consumption Gov't Programme Syndicated Export Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Cat.2 Int. Aging* Sector Segment Purpose Restructured • 98.8% were Performing Loan (Category 1 & 2) • 88.2% of the Special Mention Loan were still Current on Interest Payment • Primary sectors in Rupiah loan were: • Household Equipment, • Agriculture, • Manufacturing. • 37.3% were Corporate loan; 24.5% were Commercial loan; and 18.6% were Micro & Payroll loan • 30.8% were Working Capital loan; 35.3% were Investment loan • Only 5.18% were restructured * Excludes Micro and Consumer segments Loan Profile: Rupiah Loan (Rp1,042,089Bn) Bank Only 2Q25 Loan detail: Rupiah loan 80 |
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Rp284,836Bn in loan were FX denominated in 2Q 2025. Of the FX Loan: 1 2 5 7-14 Days 15-30 Days Current Mining Manufacturing Government Transportation & Warehousing Utilities Trading Agriculture Financial ServicesWater & Other Treatment Rental Services Real Estate Corporate Commercial SME Investment Syndicated Working Capital ExportConsumption Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Cat.2 Int. Aging* Sector Segment Purpose Restructured • 99.5% were Performing Loan (Category 1 & 2) • 49.2% of the Special Mention Loan were 7-14 Days due on interest payments • Primary sectors in FX loan are: • Mining, • Manufacturing, • Government. • 80.1% were Corporate loan; and 18.7% were Commercial loan • 56.7% were Investment loan; 29.3% were Syndication; 10.5% were Working Capital Loan • Only 8.17% were restructured * Excludes Micro and Consumer segments Loan Profile: FX Loan (Rp284,836Bn) Bank Only 2Q25 Loan detail: FX loan 81 |
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Rp616,412Bn in loan were in the Corporate portfolio in 2Q 2025. Of the Corporate Loan: 1 2 Current 1-6 Days 7-14 Days 31-60 Days Manufacturing Mining Construction Financial Services Government Utilities Agriculture Transportation & Warehousing Trading Business Services IT & Telco Real Estate Professional Services Rp Fx Investment Working Capital Syndicated Export Private SOE Government Int'l. Banks Fixed Rate Refference Rate Managed Rate 1 2 3 Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Cat.2 Int. Aging Sector Currency Purpose Client Type Rate Type Stage Restructured • 99.7% were performing loan • 44.9% of the Special Mention Loan were Current on interest payments • Primary sectors in Corporate were: • Manufacturing, • Mining, • Construction • 63.0% were Rupiah loan • 48.4% were Investment Loan; 29.1% were Working Capital Loan; 20.8% were Syndication • 53.8% were into Private clients; 29.3% were into SOEs • 63.1% were tight to Referenced Rate; 32.0% were Managed Rate • 90.4% were in Stage 1 • Only 7.05% were restructured Loan Profile: Corporate Loan (Rp616,412Bn) Bank Only 2Q25 Loan detail: corporate loan 82 |
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Rp308,896Bn in loan were in the Commercial portfolio in 2Q 2025. Of the Commercial Loan: 1 2 45 Current 61-90 Days 31-60 Days Agriculture Manufacturing Transportation & Warehousing Mining Trading Financial Services Real Estate Utilities Healthcare IT & Telco Construction F&B & Accom. Rp Fx Syndicated Working Capital Investment Export Managed Rate Fixed Rate Refference Rate New Legacy 1 2 3 Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Cat.2 Int. Aging Sector Currency Purpose Rate Type Client Origin Stage Restructured • 99.0% were Performing Loan, with 3.8% in Special Mention Loan • 86.4% of the Special Mention Loan were Current in interest payments • Primary sectors in Commercial were: • Manufacturing, • Agriculture, and • Mining. • 82.8% were Rupiah loan • 66.2% were Investment loan; 32.0% were Working Capital loan • 89.3% were Managed Rate; 7.93% were Fixed Rate • Only 25.3% were Legacy loan (disbursed prior to 2017) • 91.8% were in Stage 1 • Only 7.43% were restructured Loan Profile: Commercial Loan (Rp308,896Bn) Bank Only 2Q25 Loan detail: commercial loan 83 |
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1 2 5 Current 61-90 Days 15-30 Days 31-60 Days 1-6 Days 7-14 Days Trading Agriculture Household Equipment Construction Mining Transportation & Warehousing Manufacturing Rental Services Financial Serv. IT & Telco Healthcare F&B & Accom. Rp Fx Investment Consumer Gov Program Working Capital Non-Restru Value Chain Non-Value Chain Fixed Rate 1 2 3 Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Cat.2 Int. Aging Sector Currency Purpose Ecosystem Rate Type Stage Restructured • 99.1% were Performing Loan, with 1.20% in Category 2 • 65.6% of Special Mention Loan were still Current in Interest Payment • Primary sectors in SME were: • Trading, • Agriculture, • Household Equipment. • 96.4% were Rupiah loan • 59.7% were Working Capital loan and 25.3% were Investment loan • 52.3% were from value chain ecosystem • 100% were Fixed Rate • 95.6% were in Stage 1 • Only 3.92% were restructured Rp85,157Bn in loan were in the SME portfolio in 2Q 2025: Loan Profile: Small Business Loan (Rp85,157Bn) Bank Only 2Q25 Loan detail: SME loan 84 |
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1 2345 KSM KUR KUM Rp Value Chain Non-Value Chain Fixed Rate 1 2 3 Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Product Currency Ecosystem Rate Type Stage Restructured • 97.4% were Performing Loan, with 3.19% in Category 2 • 50.0% were Payroll Loan; 36.0% were Subsidized Micro Loan (KUR) • 99.8% were Rupiah Loan • 40.7% were from value chain ecosystem • 100% were Fixed Rate • 94.7% were in Stage 1 • Only 2.07% were restructured Rp194,234Bn in loan were in the Micro & Payroll portfolio in 2Q 2025. Of this Micro & Payroll Loan: Loan Profile: Micro & Payroll Loan (Rp194,234Bn) Bank Only 2Q25 Loan detail: micro & payroll loan 85 |
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• 97.5% were Performing Loan, with 5.60% in Category 2 • 55.3% were Mortgage; 25.6% were Auto Loan • 100% were Rupiah loan • 17.5% were from value chain ecosystem • 80.0% were Fixed Rate • 93.6% were in Stage 1 • Only 2.83% were restructured Rp122,838Bn in loan were in the Consumer portfolio in 2Q 2025. Of this Consumer Loan: 1 2 3 5 Mortgage Auto Credit Cards Employee Rp Value Chain Non-Value Chain Fixed Rate Floating Rate 1 2 3 Restru Non-Restru 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Collect. Product Currency Ecosystem Rate Type Stage Restructured Loan Profile: Consumer Loan (Rp122,838Bn) Bank Only 2Q25 Loan detail: consumer loan 86 |
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Notes
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Equity Research Contact Details COMPANY NAME ANALYST E-MAIL AUTONOMOUS Ryan Foo rfoo@autonomous.com BAHANA SECURITIES Yusuf Ade yusuf.ade@bahana.co.id BANK OF AMERICA-MERRILL LYNCH Anand Swaminathan anand.swaminathan@bofa.com BCA SEKURITAS Andre Benas andre.benas@bcasekuritas.co.id BNI SEKURITAS Yulinda Hartanto yulinda.hartanto@bnisekuritas.co.id BRI DANAREKSA SEKURITAS Victor Stefano victor.stefano@bridanareksasekuritas.co.id CITI INVESTMENT RESEARCH Ferry Wong ferry.wong@citi.com CLSA LIMITED Sarina Lesmina sarina.lesmina@clsa.com CIMB SEKURITAS Handy Noverdanius handy.noverdanius@cgs-cimb.com GOLDMAN SACHS (ASIA) Melissa Kuang melissa.kuang@gs.com HSBC Weldon Sng weldon.sng@hsbc.com.sg INDO PREMIER SECURITIES Jovent Muliadi jovent.muliadi@ipc.co.id J.P. MORGAN ASIA Harsh Modi harsh.w.modi@jpmorgan.com KB VALBURY SEKURITAS Akhmad Nurcahyadi akhmad.nurcahyadi@kbvalbury.com MAYBANK KIM ENG SECURITIES Jeffrosenberg Chen Lim jeffrosenberg.lim@maybank.com MACQUARIE SECURITIES Jayden Vantarakis jayden.vantarakis@macquarie.com MORGAN STANLEY Selvie Jusman selvie.jusman@morganstanley.com NOMURA VERDHANA Raymond Kosasih raymond.kosasih@verdhanaindonesia.com SAMUEL SEKURITAS INDONESIA Prasetya Gunadi prasetya.gunadi@samuel.co.id SUCORINVEST CENTRAL GANI Edward Lowis edward.lowis@sucorsekuritas.com TRIMEGAH SECURITIES Jonathan Gunawan jonathan.gunawan@trimegah.com UBS Joshua Tanja joshua.tanja@ubs.com UOB Kay Hian Posmarito Pakpahan posmarito@uobkayhian.com
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PT Bank Mandiri (Persero) Tbk. Menara Mandiri II, 26th floor Jl. Jend. Sudirman Kav. 54-55 Jakarta, Indonesia 12190 Tel: 62-21 526 5045 Fax: 62-21 527 4477, 527 5577 Call Center: 14000 www.bankmandiri.co.id Contact Information: Investor Relations Tel: +62 21 3002 3000 ext 7125207 Fax: +62 21 5290 4249 E-mail: ir@bankmandiri.co.id https://www.bankmandiri.co.id/web/ir Corporate Secretary Tel: +62 21 524 5740 Fax:: +62 21 526 8246